Midterm Notes BA 6020
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This 7 page Bundle was uploaded by Khalid Abaalkhail on Wednesday July 29, 2015. The Bundle belongs to BA 6020 at Wayne State University taught by Tamme Quinn-Grzebyk in Winter 2015. Since its upload, it has received 201 views. For similar materials see Contemporary Manaegment in Business Administration at Wayne State University.
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Date Created: 07/29/15
Essay 1 Chapter 1 Review Management Text Management in Action about Target p 34 Answer the following questions I a Which of the six managerial challenges discussed in the chapter is Target facing 5 points It s de antly the rst one Managing for Competitive Advantage In my opinion the main reason that Target been loosing customers sales revenues to online rivals is arrogance They didn t even think that online shopping is going to be able to drive them out of business It s clear for me since they had Amazon running their website which means either they do not think of Amazon as a rivals or they are just plane stupid Either way they need some creative solutions to set them apart from the competition Take what s special about your business and your advantages then magnify them for the consumer Another online business should be aware of is Instacartcom They basically shop for you from any grocery store in your area like Whole Foods and Kroger for fees as low as 3 dollars And within couple of hours This new concept of personal shoppers should be taken in consideration by retailers strategies 11 Using Figure I 1 as a guide describe how Target is trying to overcome competition from Internet providers of similar products 5 points Planning the goal set by Target is to be specialized in certain products They want to be different than online and other retailers Organizing The cooperation of suppliers that they have is an extreme advantage The exclusive discounts and offers as well as brands Also there is the idea of a membership card Leadingamp Controlling could be summed up here It may be seen in the higher management commitment The involvement of the CEO and VBs shows the importance of the issue to the front liners Because of that the entire organization will be pump up to achieve the set goals The close monitoring and feedback of the implementation of new ideas is critical in such circumstances 1c If you were a consultant to Target what would you recommend to overcome showrooming 10 points As I mentioned in my answer for the first question Take what s special about your business and your advantages then magnify them for the consumer In other words answer the question why should people buy from you This could solve the entire rivalry However in terms of the showroming the answer could be simple Identify the products used in this activity by consumers Find the reason why would they buy them from others and not you Then solve these problems Also nd out whom they are buying them from if possible then study the competition Other approach could be to abandon those products and nd others to replace them Things can t be bought by online but this may be a temporary solution The third way could be by embracing this phenomenon Accept that you can t compete with online prices of those products Come up with a solution to still have them in the store Then sell those showroomers other products For a long time the goal of a retailer was to get the customers inside the store Essay 2 Chapter 2 Review Management Text Operations Management Example about Toyota p 51 Answer the questions listed in Your Call at the end of the example 2a Which is lean management mostly about e iciency or e ectiveness 5 points Lean is mostly about eliminating waste or the concept of Zero Defects developed by Crosby Basically the process must by perfect To do so it s all about effectiveness To be effective is to reach the set goal with the lowest cost or easiest way 2 Can a worldwide car company get back to its roots 10 points It is absolutely possible I think of companies just like people With time and experience you may get over confidant about yourself and how you do your job It is possible to loos your way to success However great men always made it possible and change the circumstances to help them bevel the road Many businessmen have declared bankruptcy more than once in their careers and made it back on top Essay 3 Chapter 3 Review Management Text Corporate Social Responsibility Example about Herman Miller p 83 Answer the questions listed in Your Call at the end of the example 3a Does corporate social responsibility really has bene ts beyond the acts of sel essness themselves 10 points Corporate Social Responsibility is neither a sel ess act nor built for a show off cause The noble drive behind any CSR initiatives can be described as a commitment that company has taken to serve the community through utilizing the best resources available whether by which the company has or can seize with other distinguished stakeholders Therefore it is not a favor or a supplementary However CSR must be created and delivered to the targeted bene ciaries in the best package possible By having this approach CSR needs to be structured by equipping CSR staff employees with the skills and knowledge required to be able to represent the company Thus CSR leads to build the key players in this eld who will be the think and do tank Well trained employees will investigate what the society real needs aligned with the company core business This will guide to strong contribution to the community established on expertise foundation Accordingly CSR is an art that is taught to leaves measurable impact on the employees working in this field as well as the target audience 3b Identify a highly pro table and legal business that does not practice any kind of social responsibility 10 points Within the Kingdom of Saudi Arabia there are some profitable businesses that do not have a clear CSR structure however they might practice CSR or apply some of its concept in their operations For example construction and engineering businesses may use eco friendly materials or water conservation mechanism Others have established foundations where merely philanthropy is their main focus I believe the concept of CSR has spread all over the World that even family businesses give attention to in terms of systematizing their approach to the society benchmark their initiatives against international projects and allocating financial and human resources needed to give back the community Essay 4 Chapter 5 Review Management Text Mission Statements for Hilton Amazon and Patagonia p 137 4a Give an example of a di erent company o ering di erent products or services that could adapt one of these mission statements for its own use 5 points Hilton s mission statement may be applicable for most hospitality facilities One I found is Crestline Hotels amp Resorts where customer satisfaction is one of three main focus areas in their statement As well as Shangri La Hotels amp Resorts since their mission statement is only about guests experience httpwwwshangrilacomcorporateaboutusshangrilacultureourvision mission httpwwwcrestlinehotelscomhotelmanagementcompanyast Patagonia s mission statement may applicable to many companies of different disciplines because its quit general best products and environment conscious Two of them are Chevron and Adidas The reason I choose those two is because they are quit different httpwwwchevroncomaboutchevronway the values section httpcareersadidasgroupcomadidasmissionand valuesast httpwwwadidasgroupcomensustainabilityplanetenvironmentalapproach Review Management Text Vision Statements for Hilton Amazon and Patagonia p 137 419 Do these vision statements meet Fortune s criterion 5 points Fortune s criterion Vision What s happening in the world you compete What you want to do about Statement in it It does not describe the current situation but It gives a lot of details in saying the want to be the travelers lSt may be regard to how they are Hllton considered as a description of their business s going to achieve their high competition goals Nothing in regard to their world of Not a specific method or Amazon competition goals but more general one Nothing in regard to their world of It may be taken as they are Patagonia competition different or even opposite to their competitors Essay 5 Chapter 6 Review Management Text SWOT Analysis Example for Toyota p 169 5a Develop a SWOT analysis on a public company other than Toyota Use the Toyota example as a guide 15 points I ve chosen to perform SWOT analysis on Amazon Mainly for the available data and information online Internal Strengths The off the charts customer services is one of the most important strengths It s called even an obsession by one of the examples in our book Kinicki amp Williams 2013 p 72 Their acquisitions are considered strategic as they strive to acquire great startups such as Kiva Zappos IMDBcom Mike Dragan 2011 p 5 Internal Weaknesses Farhad Manjoo of The New York Times argues that one of Amazon s key weaknesses is that they haven t mastered mobile As compered to other smaller online retailers where their smartphone apps are more usable than their ordinary websites Employees sue cases booksellers attacks and tax avoidance are few of the weaknesses sources External Opportunities The growth of ecommerce may be considered one of the greatest opportunities for Amazon As people dependability on online shopping increase Amazon revenues will definitely increase since it s the largest online retailer Other opportunities may lay in the actual services provided by the web site Amazon has the ability to develop and sell its own lines of products and services It has reached the maturity stage with the needed capital to do so International expansion seems to be one of the opportunities Amazon already started that Alibabacom which is considered the largest online retailer of China may have an idea that could be of value to Amazon It forms some sort of social networking website of industries where retailers can contact suppliers directly External Threats As online shopping and ecommerce grows competition will grow as will No one can be the sole provide of an item especially in the age of the Internet You can t eliminate competition but you can stay ahead of them The most important thing to achieve that is do not underestimate your opponents Online retailers of the narrow strategy may be considered as well like regional ones Lawsuits could have a negative affect on Amazon It could be in the advertisement our actual market share affect as they vary from employees to competitors ones Online sales tax legislation may actually heart amazon as well as other online retailers Hackers and online threats are affecting every one these days and especially IT companies The following website and articles been used as references http netonomynet 20 13013 OtopS largest onlineretailerswhocompanies howdidtheymakeit httpwwwbbccomnewsbusiness29519631 https wwwintemetretailer comtopS OOtop 1 0 httpwwwftcom cms s 0 d5 caf7 62d75 e 1 1 e 1 8c7d 00144feabdc0htmlaxzz3R18XQaBz http wwwwashingtonpost combusinessonsmallbusinessonlinesalestaxis backandthistimeitmight actuallyhavea shot at passing20140717ed0560160dd011e48c9a923 ecc0c7d23storyhtml Essay 6 Chapter 7 Review Management Text Use of Analytics Example for the Oakland A s p 201 6a Describe a variety of quanti able measures that might be used when hiring college graduates What are the disadvantages of solely relying on these 10 points The rst one that comes to mind is GPA Most companies use it as a measure of how good you were in college and assume it will tell how good you will be at the job It s neither the late nor the other The major GPA of a student is a better measure of their performance especially in science and engineering elds Psychological questioners or tests such as IQ test may give some prospective about the applicant s personality Interviews are a great way to know more about the applicants and are they t for the job However many interviews are performed by people who are not expert For example if you wish to hire a carpenter you need an expert present in the interview Regarding fresh graduate it may be different But an expert in the area will know at least if the applicant is interested in that eld or not Having a trial period of a month or two is a great idea to get a sense of working abilities Some companies have a custom of rotation Basically a fresh graduate would be hired to work for few months at a different department Essay 7 Chapter 10 Review Management Text The Manager s Toolbox p 305 7a If you were going to instill a culture of innovation in a company you worked for not owned what kinds of things would you do 10 points I believe the essential component is by engaging the employees and making them believe that they are human wealth of the Company This responsibility lies on HR Management39s shoulder by conveying the message that they are adding value to the company This message can be delivered through different aspects where every employee has a clear career path in front of himher First of all setting the environment for the employees to unlock their potential that will definitely leads to a quality outcome at the end of the day Building a culture of innovation is doable however not achievable over night It needs to set the rights and responsibilities the employee has as well as places the right talent in the right place Therefore if the company needs less qualified employees such as workers and craftsmen their efforts spent must be seen as important and appreciated Some companies use gift cards as safety rewards where every employee is rewarded yearly for being safe and responsible whether personal or operational wise This reward is built on one of the company39s value that the employee39s safety is essential to the company Other companies has opened door for potential innovation ideas that can unleash the employee39s interest and help the company operate better They did it by establishing a website that gathers all innovation ideas where they go through evaluation and filtration process The idea will be marked by the owner who came up with this initiative Which is the second important part in establishing an innovation system do not make it a hassle for the employee to participate Therefore if the Company s strategy has been well communicated with the employee and their voices have heard to change the operation for better innovation and creativity will be the look and feel of any programs developed or a rule undertaken
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