Macbeth †explain in an essay format how I would direct Act2, Scene1 Essay

I am now going to explain in an essay format how I would direct Act2, Scene1 and what I would change from how the play has been originally shown. If I was directing Act 2 Scene 1, I would want Macbeth to appear to the audience as if he is cracking under the pressure and for him to appear insane, unhappy and insecure. Macbeth acts different from when we first saw him with Banquo, as now he is about to commit a crime of treason and kill his beloved King. This is very different from when we first saw him as he loved his King and he would die for him but now it is in reverse. This is important that the audience understand he is very different and not the same person due to his greed for power. It is imperative that he is portrayed this way so the audience can see he is weaker and worse of especially as his wife, Lady Macbeth has been pressuring him in to completing his task of murdering King Duncan. If it was not for his wife then I do not think that Macbeth would have gone through with it. This change in Macbeth’s character will hopefully have an affect on the audience so they can see how the three witches and his wife have affected him and his state of mind. Macbeth is realizing that he is weaker than he thought and that he is making a mistake, he doesn’t want to commit the murder but his wife pushes and pressures him into killing his King. This shows the audience that at this time Lady Macbeth is stronger than Macbeth and in a better state of mind. He starts to imagine things and this is a sign of him being insane, and mentally unstable. â€Å"Is this a dagger which I see before me, The handle toward my hand? Come, let me Clutch thee.† p. 43 This speech is important in the understanding of Macbeth’s role in this scene. So I would want Macbeth to be sitting at the end of a table and to †¦ say this in such a way that the audience can see him turning mentally insane. I would want him saying the sentence slowly and negatively, emphasising â€Å"toward† as if he is surprised about it, also holding a dagger infront of him looking at it up and down with eyes that look blurred feeling the blade. Also I would want a low-angled shot showing him overcastting the camera to give that extra touch of madness during the first line. Then I would also have a close up of him holding the dagger to get his face and dagger in the same camera shot for the last two lines. To add to the tension of this speech there would be music playing in the background that would be farley heavy to give the impression of evil and what is about to happen. This will make the audience grasp his character and understand what he is going through at this time in the play. After this speech I would have had Macbeth walking up the stairs with the dagger looking bedazzled and insane and then I would have him raise it above his head as he reached the top of the stairs. After he comes out of the room I would have him looking down at his hands ready to brake down and crumble at his knees. Once he reaches his room I would have him collapse onto the bed and lay there feeling guilty. Also when he looks at his hands I would have him start to shed tears to show that he is a wimp and insecure.

Mgc1 Study Guide

Strategic Management (Chapters 4 & 9) 1. Identify elements of the external environment and internal resources of the firm to analyze before formulating a strategy. a. External Environment: Industry and market analysis (industry profile, growth, and forces), Competitor analysis, Political and Regulatory analysis, Social analysis, Human Resources analysis, Macroeconomics analysis, and Technological analysis. Also forecasting future trends b. Internal Resources: Financial analysis, marketing audit, operations analysis, other internal resources analysis (such as research and development, management information systems, engineering and purchasing. ), human resources assessment. 2. Define core competencies and explain how they provide the foundation for business strategy. a. Core Competencies: A unique skill and/ or knowledge an organization possesses that gives it an edge over competitors. A core competence is something a company does especially well relative to its competitors. b. Think of core competencies as the roots of competitiveness and products as the fruits. c. It can provide a sustainable advantage if it is valuable, rare, difficult to imitate, and well organized. 3. Summarize the types of choices available for corporate strategy. a. Concentric i. focuses on a single business competing in a single industry. b. Vertical Integration i. involves expanding the domain of the organization into supply channels or to distributors. Vertical integration generally is used to eliminate uncertain-ties and reduce costs associated with suppliers or distributors. . Concentric Diversification i. involves moving into new businesses that are related to the company’s original core business. ii. Often companies such as Marriott pursue a strategy of concentric diversification to take advantage of their strengths in one business to gain advantage in another. Because the businesses are related, the products, markets, technologies, or capabilities used in one business can be transferred to another. Success in a concentric diversification strategy requires adequate manage-ment and other resources for operating more than one business. d. Conglomerate Diversification i. a corporate strategy that involves expansion into unrelated businesses. For example, General Electric Corporation has diversified from its original base in electrical and home appliance products to such wide- ranging industries as health, finance, insurance, truck and air transportation, and even media, with its ownership of NBC. Typically, companies pursue a conglomerate diversification strategy to minimize risks due to market fluctuations in one industry. 4. Discuss how companies can achieve competitive advantage through business strategy. . Two different business strategies generally lead to gaining a competitive advantage: Low Cost Strategies and Differentiation Strategies b. Low Cost Strategy: Businesses using a low- cost strategy attempt to be efficient and offer a standard, no- frills product. (i. e. Walmart and Southwest Airlines). To succeed, an organization using this strategy generally must be the cost leader in its industry or market segmen t. However, even a cost leader must offer a product that is acceptable to customers compared with competitors’ products. c. Differentiation Strategy: With a differentiation strategy, a company attempts to be unique in its industry or market segment along some dimensions that customers value. This unique or differentiated position within the industry often is based on high product quality, excellent marketing and distribution, or superior service. (i. e. Nordstrom’s commitment to quality and customer service). The most competitive strategy is one that competitors are unwilling or unable to imitate. 5. Describe the keys to effective strategy implementation. a. Step 1: Define strategic tasks. Articulate in simple language what a particular business must do to create or sustain a competitive advantage. Define strategic tasks to help employees understand how they contribute to the organization, including redefining relationships among the parts of the organization. b. Step 2: Assess organization capabilities. Evaluate the organization’s ability to implement the strategic tasks. A task force typically interviews employees and managers to identify specific issues that help or hinder effective implementation. Then the results are summarized for top management. In the course of your career, you will likely be asked to participate in a task force. c. Step 3: Develop an implementation agenda. Management decides how it will change its own activities and procedures; how critical interdependencies will be managed; what skills and individuals are needed in key roles; and what structures, measures, information, and rewards might ultimately support the needed behavior. A philosophy statement, communicated in terms of value, is the outcome of this process. d. Step 4: Create an implementation plan. The top management team, the employee task force, and others develop the implementation plan. The top management team then monitors progress. The employee task force continues its work by providing feedback about how others in the organization are responding to the changes. e. *Strategy must be supported by structure, technology, human resources, rewards, information sys-tems, culture, leadership, and so on. Ultimately, the success of a plan depends on how well employees at low levels are able and willing to implement it. Participative management is one of the more popular approaches executives use to gain employees’ input and ensure their commitment to strategy implementation. . The 6 Barriers to Strategy Implementation (or Silent Killers) a. Top- down or laissez-faire senior management style: With the top team and lower levels, the CEO/ general manager creates a partnership built around the development of a compelling business direction, the creation of an enabling organizational context, and the delegation of authority to clearly accountable individuals and teams. b . Unclear strategy and conflicting priorities: The top team, as a group, develops a statement of strategy, and priorities that members are willing to stand behind are developed. c. An ineffective senior management team: The top team, as a group, is involved in all steps in the change process so that its effectiveness is tested and developed. d. Poor vertical communication: An honest, fact- based dialogue is established with lower levels about the new strategy and the barriers to implementing it. e. Poor coordination across functions, businesses, or borders: A set of businesswide initiatives and new organizational roles and responsibilities are defined that require â€Å" the right people to work together on the right things in the right way† to implement the strategy. f. Inadequate down- the-line leadership skills and development: Lower- level managers develop skills through newly created opportunities to lead change and drive key business initiatives. They are supported with just- in-time coaching, training, and targeted recruitment. Those who still are not able to make the grade must be replaced. 7. What are the steps in the strategic planning process? Why should companies engage in strategic planning? a. Step 1: Establishment of mission, vision, and goals b. Step 2: Analysis of external opportunities and threats c. Step 3: Analysis of internal strengths and weaknesses d. Step 4: SWOT Analysis and Strategy Formulation e. Step 5: Strategy Implementation f. Step 6: Strategic Control 8. What are the components of a Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis? a. SWOT analysis: A comparison of strengths, weaknesses, opportunities, and threats that helps executives formulate strategy. b. Strengths and weaknesses refer to internal resources. i. For example, an organization’s strengths might include skilled management, positive cash flow, and well- known and highly regarded brands. Weaknesses might be lack of spare production capacity and the absence of reliable suppliers. . Opportunities and threats arise in the macroenvironment and competitive environment. i. Examples of opportunities are a new technology that could make the supply chain more efficient and a market niche that is currently underserved. Threats might include the possibility that competitors will enter the underserved niche once it has been shown to be profitable. 9. What is the difference between strategic vision, strategic intent, strategic objectives, and strategic mission? a. Strategic vision: The long- term direction and strategic intent of a company. b. Strategic Intent: The direction a company intends to go c. Strategic Objectives: d. Strategic Mission: The mission is a clear and concise expression of the basic purpose of the organization. It describes what the organization does, who it does it for, its basic good or service, and its values. 10. What is the value chain concept? a. A value chain is the sequence of activities that flow from raw materials to the delivery of a good or service, with additional value created at each step. b. A value chain describes the way in which value is added to various areas of an organization. Porter’s value chain model categorizes an organization into five primary and four support activities. Primary activities include inbound logistics, operations, outbound logistics, sales and marketing, and service. Support activities are company infrastructure, technology development, human resource management, and procurement. c. According to Porter’s model, you can achieve competitive advantage by reducing costs or restructuring one or all primary activites to gain a cost advantage. 11. What is the purpose of the value chain analysis? a. Managers can add customer value and build competitive advantage by paying close attention to their organization’s value chain— not only each step in it, but the way each step interacts with the others. 2. Describe Porter's Five Forces model. a. Michael Porter provided a framework that models an industry as being influenced by five forces. The strategic business manager seeking to develop an edge over rival firms can use this model to better understand the industry context in which the firm operates. i. Force 1: Rivalry 1. DEGREE OF RIVALRY a. -Exit barriers b. -Industry concentration c. -Fixed costs/Value added d. -Industry growth e. -Intermittent overcapacity f. -Product differences g. -Switching costs h. -Brand identity i. -Diversity of rivals j. -Corporate stakes ii. Force 2: Threats of New Entrants & Barriers to Entry: It is not only incumbent rivals that pose a threat to firms in an industry; the possibility that new firms may enter the industry also affects competition. In theory, any firm should be able to enter and exit a market, and if free entry and exit exists, then profits always should be nominal. In reality, however, industries possess characteristics that protect the high profit levels of firms in the market and inhibit additional rivals from entering the market. These are barriers to entry. 1. Absolute cost advantages 2. Proprietary learning curve 3. Access to inputs 4. Government policy 5. Economies of scale 6. Capital requirements 7. Brand identity 8. Switching costs 9. Access to distribution 10. Expected retaliation 11. Proprietary products iii. Force 3: Buyer Power: The power of buyers is the impact that customers have on a producing industry. In general, when buyer power is strong, the relationship to the producing industry is near to what an economist terms a monopsony – a market in which there are many suppliers and one buyer. 1. Bargaining leverage 2. Buyer volume 3. Buyer information 4. Brand identity 5. Price sensitivity 6. Threat of backward integration 7. Product differentiation 8. Buyer concentration vs. industry 9. Substitutes available 10. Buyers' incentives iv. Force 4: Threat of Substitutes: The competition engendered by a Threat of Substitute comes from products outside the industry. The price of aluminum beverage cans is constrained by the price of glass bottles, steel cans, and plastic containers. These containers are substitutes, yet they are not rivals in the aluminum can industry. 1. -Switching costs 2. -Buyer inclination to 3. substitute 4. -Price-performance 5. trade-off of substitutes v. Force 5: Supplier Power 1. Supplier concentration 2. Importance of volume to supplier 3. Differentiation of inputs . Impact of inputs on cost or differentiation 5. Switching costs of firms in the industry 6. Presence of substitute inputs 7. Threat of forward integration 8. Cost relative to total purchases in industry 13. How does Porter's Five Forces model influence strategic planning? 14. Discuss why it is critical for organizations to be responsive. a. Responsiv eness is the quickness, agility, and ability to adapt to changing demands. b. Businesses today must be responsive because of the fast-changing business environment. 15. Describe the qualities of an organic organization structure. . The organic structure stands in stark contrast to the mechanistic organization. It is much less rigid and, in fact, emphasizes flexibility. The organic structure can be described as follows: 1. Jobholders have broader responsibilities that change as the need arises. 2. Communication occurs through advice and information rather than through orders and instructions. 3. Decision making and influence are more decentralized and informal. 4. Expertise is highly valued. 5. Jobholders rely more heavily on judgment than on rules. 6. Obedience to authority is less important than commitment to the organization’s goals. 7. Employees depend more on one another and relate more informally and personally. b. People in organic organizations work more as teammates than as subordinates who take orders from the boss, thus breaking away from the traditional bureaucratic form. The more responsive a firm is, the more responsive it will be to changing competitive demands and market realities. 16. Identify strategies and dynamic organizational concepts that can improve an organization's responsiveness. a. New and emerging organizational concepts and forms include core competencies, strategic alliances, learning organizations, and high-involvement organizations. b. Participative management is becoming increasingly popular as a way to create a competitive advantage. c. High-involvement organization: high- involvement organization, top management ensures that there is a consensus about the direction in which the business is heading. The leader seeks input from his or her top management team and from lower levels of the company. Task forces, study groups, and other techniques are used to foster participation in decisions that affect the entire organization. 17. Explain how a firm can be both big and small. a. Historically, large organizations have had important advantages over small organizations. Today, small size has advantages, including the ability to act quickly, respond to customer demands, and serve small niches. The ideal firm today combines the advantages of both. It creates many small, flexible units, while the corporate levels add value by taking advantage of its size and power. 18. Summarize how firms organize to meet customer requirements. a. By using Customer Relationship Management (A multifaceted process focusing on creating two- way exchanges with customers to foster intimate knowledge of their needs, wants, and buying patterns. ) b. By continually changing in order to connect with customers, even without waiting for customers to make the first move. c. Research and development focus on innovation and new products. Inbound logistics receive and store raw materials and distribute them to operations. Operations transform the raw materials into final product. Outbound logistics warehouse the product and handle its distribution. Marketing and sales identify customer requirements and get customers to purchase the product. Service offers customer support, such as repair, after the item has been bought. d. Utilizing Total Quality Management e. Firms have embraced principles of continuous improvement and total quality management to respond to customer needs. Baldrige criteria and ISO 9001 standards help firms organize to meet better quality specifications. Extending these, reengineering efforts are directed at completely overhauling processes to provide world-class customer service. Total Quality Management (Chapters 5 & 9) 1. Define total quality management. a. An integrative approach to management that supports the attainment of customer satisfaction through a wide variety of tools and techniques that result in high- quality goods and services. 2. Discuss Deming's 14 points of quality. a. Deming’s â€Å" 14 points† of quality emphasized a holistic approach to management that demands intimate understanding of the process— the delicate interaction of materials, machines, and people that deter-mines productivity, quality, and competitive advantage: 1. Create constancy of purpose— strive for long- term improvement rather than short- term profit. 2. Adopt the new philosophy— don’t tolerate delays and mistakes. 3. Cease dependence on mass inspection— build quality into the process on the front end. 4. End the practice of awarding business on price tag alone— build long- term relationships. . Improve constantly and forever the system of production and service— at each stage. 6. Institute training and retraining— continually update methods and thinking. 7. Institute leadership— provide the resources needed for effectiveness. 8. Drive out fear— people m ust believe it is safe to report problems or ask for help. 9. Break down barriers among departments— promote teamwork. 10. Eliminate slogans, exhortations, and arbitrary targets— supply methods, not buzzwords. 11. Eliminate numerical quotas— they are contrary to the idea of continuous improvement. 12. Remove barriers to pride in workmanship— allow autonomy and spontaneity. 3. Institute a vigorous program of education and retraining— people are assets, not commodities. 14. Take action to accomplish the transformation— provide a structure that enables quality. 3. Discuss Six Sigma. a. One of the most important contributors to total quality management has been the introduction of statistical tools to analyze the causes of product defects, in an approach called Six Sigma Quality. b. The product defects analyzed may include anything that results in customer dissatisfaction— for example, late delivery, wrong shipment, or poor customer servi ce, as well as problems with the product itself. When the defect has been identified, managers then engage the organization in a determined, com-prehensive effort to eliminate its causes and reduce it to the lowest practicable level. At Six Sigma, a product or process is defect- free 99. 99966 percent of the time— less than 3. 4 defects or mistakes per million. Reaching that goal almost always requires managers to restructure their internal processes and relationships with suppliers and customers in fundamental ways. 4. Identify ways that firms organize around different types of technology. . Small batch: Technologies that produce goods and services in low volume. b. Large Batch: Technologies that produce goods and services in high volume. c. Continuous Process: A process that is highly automated and has a continuous production flow. 5. Define reengineering. How is reengineering important to an organization's success? a. The principal idea of reengineering is to revolutionize key organizational systems and processes to answe r the question: â€Å" If you were the customer, how would you like us to operate? The answer to this question forms a vision for how the organization should run, and then decisions are made and actions are taken to make the organization operate like the vision. b. Reengineering is not about making minor organizational changes here and there. It is about completely overhauling the operation, in revolutionary ways, to achieve the greatest possible benefits to the customer and to the organization. 6. What are the benefits of implementing a total quality management system? a. Total quality management (TQM) is different from the old concept of quality because its focus is on serving customers, identifying the causes of quality problems, and building quality into the production process. b. When it is properly implemented, this style of management can lead to decreased costs related to corrective or preventative maintenance, better overall performance, and an increased number of happy and loyal customers 7. What is continuous improvement? a. Continuous improvement, called kaizen by the Japanese, requires that the company continually strive to be better through learning and problem solving. Because we can never achieve perfection, we must always evaluate our performance and take measures to improve it. 8. What are the steps for building a quality management system? a. 1. Customer focus — learning and addressing customer needs and expectations. 2. Leadership — establishing a vision and goals, establishing trust, and providing employees with the resources and inspiration to meet goals. 3. Involvement of people — establishing an environment in which employees understand their contribution, engage in problem solving, and acquire and share knowledge. 4. Process approach — defining the tasks needed to successfully carry out each process and assigning responsibility for them. 5. System approach to management — putting processes together into efficient systems that work together effectively. 6. Continual improvement — teaching people how to identify areas for improvement and rewarding them for making improvements. 7. Factual approach to decision making — gathering accurate performance data, sharing the data with employees, and using the data to make decisions. 8. Mutually beneficial supplier relationships — working in a cooperative way with suppliers. . What is the difference between quality assurance and quality control? a. Quality control is the set of activities performed to ensure that the products or services meet the requirements as defined during the earlier process for assurance of quality. These activities are done during the manufacturing process and once the product is manufactured. b. Qual ity guarantee or assurance is the set of procedures developed and activities done before the product or service is manufactured or delivered to assure of good quality to the customers. This is a proactive approach. 10. What is a quality audit? When is it used? Entrepreneurial Perspective (Chapter 7) 1. Summarize how to assess opportunities to start new companies. a. You should always be on the lookout for new ideas, monitoring the current business environment and other indicators of opportunity. Franchising offers an interesting opportunity, and the potential of the Internet is being tapped (after entrepreneurs learned some tough lessons from the dot- bomb era). Trial and error and preparation play important roles. Assessing the business concept on the basis of how innovative and risky it is, combined with your personal interests and tendencies, will also help you make good choices. Ideas should be carefully assessed via opportunity analysis and a thorough business plan. 2. Identify common causes of success and failure. a. New ventures are inherently risky. The economic environment plays an important role in the success or failure of the business, and the entrepreneur should anticipate and be prepared to adapt in the face of changing economic conditions. How you handle a variety of common management challenges also can mean the difference between success and failure, as can the effectiveness of your planning and your ability to mobilize nonfi-nancial resources, including other people who can help. 3. Discuss common management challenges. a. When new businesses fail, the causes often can be traced to some common challenges that entrepreneurs face and must manage well. You might not enjoy the entrepreneurial process. Survival— including getting started and fending off competitors— is difficult. Growth creates new challenges, including reluctance to delegate work to others. Funds are put to improper use, and financial controls may be inadequate. Many entrepreneurs fail to plan well for succession. When needing or wanting new funds, initial public offerings provide an option, but they represent an important and difficult decision that must be considered carefully. 4. Explain how to increase your chances of success, including good business planning. a. The business plan helps you think through your idea thoroughly and determine its viability. It also convinces ( or fails to con-vince) others to participate. The plan describes the venture and its future, provides financial projections, and includes plans for marketing, manufacturing, and other business functions. The plan should describe the people involved in the venture, a full assess-ment of the opportunity (including customers and competitors), the environmental context (including regulatory and economic issues), and the risk (including future risks and how you intend to deal with them). Successful entrepreneurs also understand how to develop social apital, which enhances legitimacy and helps develop a network of others including customers, talented people, partners, and boards. 5. How does an organization cultivate entrepreneurship within the organization (intrapreneurship)? a. Intrapreneurs work within established companies to develop new goods or services that allow the corporation to reap the benefits of innovation. To facilitate intrapraneurship, organizations use skunkworks— special project teams designated to develop a new product— and allow bootlegging— informal efforts beyond formal job assignments in which employees pursue their own pet projects. Organizations should select projects carefully, have an ongoing portfolio of projects, and fund them appropriately. Ultimately, a true entrepreneurial orientation in a company comes from encouraging independent action, innovativeness, risk taking, proactive behavior, and competitive aggressiveness. 6. What role does entrepreneurship play within an organization? 7. Should organizations encourage an entrepreneurial spirit within their organization? Why or why not? 8. What is the relationship between innovation and entrepreneurship? a. Entrepreneurship is the pursuit of lucrative opportunities by enterprising individuals. . Entrepreneurship is inherently about innovation— creating a new venture where one didn’t exist before. 9. What are the common characteristics of an entrepreneur? a. 1. Commitment and determination: Successful entrepreneurs are decisive, tenacious, disciplined, willing to sacrifice, and able to immerse themselves in their enterprises. 2. Leadership: They are self- starters, team builders, superior learners, and teachers. Communicating a vision for the future of the company— an essential component of leadership that you’ll learn more about in Chapter 12— has a direct impact on venture growth. 7 3. Opportunity obsession: They have an intimate knowledge of customers’ needs, are market driven, and are obsessed with value creation and enhancement. 4. Tolerance of risk, ambiguity, and uncertainty: They are calculated risk takers and risk managers, tolerant of stress, and able to resolve problems. 5. Creativity, self- reliance, and ability to adapt: They are open- minded, restless with the status quo, able to learn quickly, highly adaptable, creative, skilled at conceptualizing, and attentive to details. . Motivation to excel: They have a clear results orientation, set high but realistic goals, have a strong drive to achieve, know their own weaknesses and strengths, and focus on what can be done rather than on the reasons things can’t be done. 10. Do the financing issues that new businesses face differ from those faced by a well-established business? How? Conflict and Change (Chapters 14, 16, 7 18) 1. Identify ways to manage conflict. a. Managing lateral relationships well can prevent some conflict. But conflict arises because of the sheer number of contacts, ambiguities, goal differences, competition for scarce resources, and different perspectives and time horizons. Depending on the situation, five basic interpersonal approaches to managing con-flict can be used: avoidance, accommodation, compromise, com-petition, and collaboration. Superordinate goals offer a focus on higher- level organizational goals that can help generate a collaborative relationship. Techniques for managing conflict between other parties include acting as a mediator and managing virtual conflict. 2. Identify different conflict styles. a. Avoidance, accommodation, compromise, competing, collaboration 3. Discuss the role of a mediator. a. A Mediator is a â€Å" third party† intervening to help settle a conflict between other people. Third- party intervention, done well, can improve working relationships and help the parties improve their own conflict- management, communication, and problem- solving skills. 4. Explain the difference between avoidance, accommodation, compromise, competing, and collaboration as conflict styles. a. Avoidance: A reaction to conflict that involves ignoring the problem by doing nothing at all, or deemphasizing the disagreement. . Accommodation: A style of dealing with conflict involving cooperation on behalf of the other party but not being assertive about one’s own interests. c. Compromise: A style of dealing with conflict involving moderate attention to both parties’ concerns. d. Competing: A style of dealing with conflict involving strong focus on one’s own goal s and little or no concern for the other person’s goals. e. Collaboration: A style of dealing with conflict emphasizing both cooperation and assertiveness to maximize both parties’ satisfaction. 5. Describe four types of control systems. a. Bureaucratic Control: Bureaucratic control is the use of rules, regulations, and formal authority to guide performance. It includes such items as budgets, statistical reports, and performance appraisals to regulate behavior and results. b. Market Control: Market control involves the use of pricing mechanisms to regulate activities in organizations as though they were economic transactions. Business units may be treated as profit centers and trade resources ( services or goods) with one another via such mechanisms. Managers who run these units may be evaluated on the basis of profit and loss. . Clan Control: Clan control, unlike the first two types, does not assume that the interests of the organization and individuals naturally diverge. Instead, clan control is based on the idea that employees may share the values, expectations, and goals of the organization and act in accordance with them. When members of an organization have common values and goals— and trust one anotherâ₠¬â€ formal controls may be less necessary. d. Dynamic Control: 6. What types of control systems have you seen in operation in your organization (or one you know well)? 7. What is functional conflict? Describe the conflict process. 8. What are some conflict-resolution techniques that can be employed in an organization? 9. What is the controlling function within an organization? 10. What are the steps in the control process? 1. Setting performance standards. 2. Measuring performance. 3. Comparing performance against the standards and determining deviations. 4. Taking action to correct problems and reinforce successes. 11. What are the stages of change within an organization? a. Unfreezing: breaking from the old ways of doing things b. Moving: instituting the change c. Refreezing: reinforcing and supporting the new ways 12. What strategies can mangers use to overcome resistance to their change initiatives? a. Understand why people often resist change (inertia, timing, surprise, peer pressure/ self interest, misunderstanding, different assessments, management tactics) b. Force- field analysis: involves identifying the specific forces that prevent people from changing and the specific forces that will drive people toward change. c. Education and Communication: Management should educate people about upcoming changes before they occur. It should communicate not only the nature of the change but its logic. d. Participation and Involvement: change requires reflection and dialogue. It is important to listen to the people who are affected by the change. They should be involved in the change’s design and implementation. e. Facilitation and Support: Facilitation involves training and other resources people need to carry out the change and perform their jobs under the new circumstances. This step often includes decentralizing authority and empowering people, that is, giving them the power to make the decisions and changes needed to improve their performance. . Negotiation and Rewards: When necessary and appropriate, management can offer concrete incentives for cooperation with the change. Perhaps job enrichment is acceptable only with a higher wage rate, or a work rule change is resisted until manage-ment agrees to a concession on some other rule ( say, regarding taking breaks). g. Manipulation and cooptation: One form of manipulation is cooptation, which involves giving a resisting individual a desirable role in the change process. The leader of a resisting group often is coopted. For example, management might invite a union leader to be a member of an executive committee or ask a key member of an outside organization to join the company’s board of directors. As a person becomes involved in the change, he or she may become less resistant to the actions of the coopting group or organization. h. Explicit and implicit coercion: Some managers apply punishment or the threat of punishment to those who resist change. With this approach, managers use force to make people comply with their wishes. Human Resource Mgmt & Diversity (Chapters 10 & 11) 1. How do companies use human resource management to gain a competitive advantage? a. To succeed, companies must align their human resources to their strategies. Effective planning is necessary to make certain that the right number and type of employees are available to implement a company’s strategic plan. It is clear that hiring the most competent people is a very involved process. Companies that compete on cost, quality, service, and so on also should use their staffing, training, appraisal, and reward systems to elicit and reinforce the kinds of behaviors that underlie their strategies. 2. Give reasons companies recruit both internally and externally for new hires. a. Some companies prefer to recruit internally to make certain that employees are familiar with organizational policies and values. In other instances, companies prefer to recruit externally, such as through employee referrals, job boards, newspaper advertising, and campus visits, to find individuals with new ideas and fresh perspectives. External recruiting is also necessary to fill positions when the organization is growing or needs skills that do not exist among its current employees. 3. Identify various methods for selecting new employees. . There are myriad selection techniques from which to choose. Interviews and reference checks are the most common. Per-sonality tests and cognitive ability tests measure an individual’s aptitude and potential to do well on the job. Other selection techniques include assessment centers and integrity tests. Background and reference checks verify that the informati on supplied by employees is accurate. Regardless of the approach used, any test should be able to demonstrate reliability ( consistency across time and different interview situations) and validity ( accuracy in predicting job performance). In addition, selection methods must comply with equal opportunity laws, which are intended to ensure that companies do not discriminate in any employment practices. 4. Evaluate the importance of spending money and time on training and development. a. People cannot depend on a set of skills for all of their working lives. In today’s changing, competitive world, old skills quickly become obsolete, and new ones become essential for success. Refreshing or updating an individual’s skills requires a great deal of continuous training, designed with easurable goals and methods that will achieve those goals. Companies understand that gaining a competitive edge in quality of service depends on having the most talented, flexible workers in the industry. 5. Explain alternative selections for those who appraise an employee's performance. a. Many companies are using multiple sources of appraisal because different people see different sides of an employee’s performance. Typical ly, a superior is expected to evaluate an employee, but peers and team members are often well positioned to see aspects of performance that a superior misses. Even an employ-ee’s subordinates are being asked more often today to give their input to get yet another perspective on the evaluation. Particularly in companies concerned about quality, internal and external customers also are surveyed. Finally, employees should evaluate their own performance, if only to get them thinking about their own performance, as well as to engage them in the appraisal process. 6. Describe the fundamental aspects of a reward system a. Reward systems include pay and benefits. Pay systems have three basic components: pay level, pay structure, and individual pay determination. To achieve an advantage over competitors, executives may want to pay a generally higher wage to their company’s employees, but this decision must be weighed against the need to control costs ( pay- level decisions often are tied to strategic concerns such as these). To achieve internal equity ( paying people what they are worth relative to their peers within the company), managers must look at the pay structure, making certain that pay differentials are based on knowledge, effort, responsibility, working conditions, seniority, and so on. Individual pay determination is often based on merit or the dif-ferent contributions of individuals. In these cases, it is important to make certain that men and women receive equal pay for equal work, and managers may wish to base pay decisions on the idea of comparable worth ( equal pay for an equal contribution). Also, the Occupational Safety and Health Act requires that employees have a safe and healthy work environment. 7. Summarize how unions and labor laws influence human resources management. a. Labor relations involve the interactions between workers and management. One mechanism by which this relationship is con-ducted is unions. Unions seek to present a collective voice for workers, to make their needs and wishes known to manage-ment. Unions negotiate agreements with management regard-ing a range of issues such as wages, hours, working conditions, job security, and health care. One important tool that unions can use is the grievance procedure established through collective bargaining. This mechanism gives employees a way to seek redress for wrongful action on the part of management. In this way, unions make certain that the rights of all employees are protected. Labor laws seek to protect the rights of both employees and managers so that their relationship can be pro-ductive and agreeable. 8. Describe how changes in the U. S. workforce make diversity a critical organizational and managerial issue. a. The labor force is getting older and more racially and ethnically diverse, with a higher proportion of women. And while the absolute number of workers is increasing, the growth in jobs is outpacing the numerical growth of workers. In addition, the jobs that are being created frequently require higher skills than the typical worker can provide; thus, we are seeing a growing skills gap. To be competitive, organizations can no longer take the traditional approach of depending on white males to form the core of the workforce. Today, managers must look broadly to make use of talent wherever it can be found. As the labor market changes, organizations that can recruit, develop, motivate, and retain a diverse workforce will have a competitive advantage. 9. Distinguish between affirmative action and managing diversity. a. Affirmative action is designed to correct past exclusion of women and minorities from U. S. organizations. But despite the accomplishments of affirmative action, it has not eliminated bar-riers that prevent individuals from reaching their full potential. Managing diversity goes beyond hiring people who are different from the norm and seeks to support, nurture, and use employee differences to the organization’s advantage. 10. Identify challenges associated with managing a diverse workforce. a. The challenges for managers created by a diverse workforce include decreased group cohesiveness, communication problems, mistrust and tension, and stereotyping. These challenges can be turned into advantages by means of training and effective management. 11. Define monolithic, pluralistic, and multicultural organizations. a. Monolithic: An organization that has a low degree of structural integration— employing few women, minorities, or other groups that differ from the majority— and thus has a highly homogeneous employee population.. b. Pluralistic: Pluralistic organizations have a relatively diverse employee population and try to involve various types of employ-ees ( e. g. , engaging in affirmative action and avoiding discrimination). Conflict is greatest in a pluralistic organization. c. Multicultural: Multicultural organizations not only have diversity but value it, and they fully integrate men and women of various racial and ethnic groups, as well as people with different types of expertise. 12. List steps managers and their organizations can take to cultivate diversity. a. To be successful, organizational efforts to manage diversity must have top management support and commitment. Organizations should first undertake a thorough assessment of their cultures, policies, and practices, as well as the demographics of their labor pools and customer bases. Only after this diagnosis has been completed is a company in position to initiate programs designed to attract, develop, motivate, and retain a diverse workforce. 13. What is strategic human resource planning, and how does it benefit an organization? 14. What legal considerations must organizations consider when hiring employees? 15. What is the job characteristics model (JCM)? a. Hackman & Oldham proposed the Job Characteristics Model, which is widely used as a framework to study how particular job characteristics impact on job outcomes, including job satisfaction. The model states that there are five core job characteristics (skill variety, task identity, task significance, autonomy, and feedback) which impact three critical psychological states (experienced meaningfulness, experienced responsibility for outcomes, and knowledge of the actual results), in turn influencing work outcomes (job satisfaction, absenteeism, work motivation, etc. ). 16. Why are certain types of diversity protected by law? What are they? a. Female, minorities, immigrants, disabled people. 17. What are some barriers to cross-cultural communication in an organization? a. isunderstandings, inac-curacies, inefficiencies, and slowness. Speed is lost when not all group members are fluent in the same language or when additional time is required to explain things. Sometimes diversity may decrease communication, as when white male managers feel less comfortable giving feedback to women or minorities, for fear of how criticism may be received. The result may be employees who do n ot have a clear idea of what they need to do to improve their performance. 18. When are organizations required to modify their workplace in order to accommodate the needs of an individual employee? a. When the employee is unable to accomplish his job without reasonable accommodation. 19. What is an effective diversity training program? a. A program that has 1. Position training in your broad diversity strategy. 2. Do a thorough needs analysis. 3. Distinguish between education and training. 4. Use a participative design process. 5. Test the program thoroughly before rollout. 6. Incorporate training programs into the core training curriculum. CHAPTER 10 QUIZ QUESTIONS 20. Conducting demand forcasts is the most difficult part of HR planning. 21. Job analysis provides job descriptions and job specifications. 2. Which of these is the most popular selection tool? – Interviews 23. The behavioral description interview explores what candidates have actually done in the past. 24. Which of these is a managerial performance test in which candidates participate in a variety of exercises and situations? –Assessment center 25. The degree to which a selection test predicts or correl ates with job performance is called validity. 26. While laying off 160 employees in a cost cutting move, Peel and Seal, Inc. is also helping these laid-off employees regain employment elsewhere. This is referred to as outplacement. 27. Development involves teaching managers and professional employees broader skills needed for their present and future jobs. 28. The law that prohibits gender based pay discrimination between two jobs substantially similar in skill, effort, responsibility, and working conditions is Equal Pay Act. 29. MBO is one approach to results appraisals. 30. The decision that prices different jobs within the organization is pay structure 31. Internal factors affecting the wage mix include compensation policy of organization. 32. Individual incentive plans are the most common type of incentive plan. 33. The use of a neutral third party to resolve abor dispute is called arbitration. CHAPTER 11 QUIZ QUESTIONS 1. What percent of women currently make up the workforce? -46% 2. Rosalie reached the level of regional manager at Bike Tools Etc. nine years ago. Three of her counterparts have been promoted to vice president level. Although Rosalie has more experience and better performance numbers, she has no t been promoted. As a matter of fact, white males occupy all senior positions at Bike Tools Etc. Rosalie appears to have hit the glass ceiling. 3. William was denied promotion because he rejected the sexual advances from his boss, Reba. This appears to be a case of _____ harassment. Quid Pro Quo 4. Minorities and immigrants hold approximately _____ jobs in the United States. –1 out of every 4 5. All of the following statements are true except: African American workforce is growing the fastest in the United States followed by Asian and Hispanic workforces / by 2020, most of California's entry-level workers will be Hispanic / the younger Americans are, the more likely they are to be persons of color / three in ten college enrollees are people of color / foreign-born workers make up more than 15 percent of the U. S. civilian labor force 6. _____ are the largest unemployed minority in the United States. People with disabilities 7. The most common negative effect of diversity is c ommunication problems. 8. A(n)____ is an organization that has a relatively diverse employee population and makes an effort to involve employees from different gender, racial, or cultural backgrounds. –pluralistic organization Organizational Structure (Chapters 8, 9 , 15, & 17) 1. Explain how differentiation and integration influence an organization's structure. a. Differentiation means that organizations have many parts. Specialization means that various individuals and units throughout the organization perform different tasks. The assignment of tasks to different people or groups often is referred to as the division of labor. But the specialized tasks in an organization cannot all be performed independently of one another. Coordination links the various tasks in order to achieve the organization’s overall mission. An organization with many different specialized tasks and work units is highly differentiated; the more differentiated the organization is, the more integration or coordination is required. 2. Summarize how authority operates. a. Authority is the legitimate right to make decisions and tell other people what to do. Authority is exercised throughout the hierarchy, as bosses have the authority to give orders to subordinates. Through the day- to- day operation of authority, the organization proceeds toward achieving its goals. Owners or stockholders have ultimate authority. 3. Define the roles of the board of directors and the chief executive officer. a. Boards of directors report to stockholders. The board of directors controls or advises management, considers the firm’s legal and other interests, and protects stockholders’ rights. The chief executive officer reports to the board and is accountable for the organization’s performance. 4. Discuss how span of control affects structure and managerial effectiveness. a. Span of control is the number of people who report directly to a manager. Narrow spans create tall organizations, and wide spans create flat ones. No single span of control is always appropriate; the optimal span is determined by characteristics of the work, the subordinates, the manager, and the organization. 5. Explain how to delegate effectively. a. Delegation— the assignment of tasks and responsibilities— has many potential advantages for the manager, the subordinate, and the organization. But to be effective, the process must be managed carefully. The manager should define the goal, select the person, solicit opinions, provide resources, schedule checkpoints, and discuss progress periodically. 6. Distinguish between centralized and decentralized organizations. a. In centralized organizations, most important decisions are made by top managers. In decentralized organizations, many decisions are delegated to lower levels. 7. Summarize ways organizations can be structured. a. Organizations can be structured on the basis of function, division ( product, customers, or geographic), matrix, and network. Each form has advantages and disadvantages. 8. Identify the unique challenges of the matrix organization. a. The matrix is a complex structure with a dual authority structure. A well- managed matrix enables organizations to adapt to change. But it can also create confusion and interpersonal dif-ficulties. People in all positions in the matrix— top executives, product and function managers, and two- boss managers— must acquire unique survival skills. 9. Describe important integrative mechanisms. a. Managers can coordinate interdependent units through standardization, plans, and mutual adjustment. Standardization occurs when routines and standard operating procedures are put in place. They typically are accompanied by formalized rules. Coordination by plan is more flexible and allows more freedom in how tasks are carried out but keeps interdependent units focused on schedules and joint goals. Mutual adjustment involves feedback and discussions among related parties to accommodate each other’s needs. It is at once the most flexible and simple to administer, but it is time- consuming. 10. What is the difference between forward vertical integration and backward vertical integration? a. Forward Vertical Integration b. Backward Vertical Integration: 11. What are the benefits and challenges of a matrix organization structure? . Benefits: i. Decision-making is decentralized to a level where information is processed properly and relevant knowledge is applied. †¢ Extensive communications networks help process large amounts of information. †¢ With decisions delegated to appropriate levels, higher management levels are not overloaded with operational decisio ns. †¢ Resource utilization is efficient because key resources are shared across several important programs or products at the same time. †¢ Employees learn the collaborative skills needed to function in an environment characterized by frequent meetings and more informal interactions. Dual career ladders are elaborated as more career options become available on both sides of the organization. b. Challenges: i. Confusion can arise because people do not have a single superior to whom they feel primary responsibility. †¢ The design encourages managers who share subordinates to jockey for power. †¢ The mistaken belief can arise that matrix management is the same thing as group decision-making— in other words, everyone must be consulted for every decision. †¢ Too much democracy can lead to not enough action.

African American Impact on Sports

A life is not important except in the impact it has on others lives. This quote was said by Jackie Robinson who was important in paving the way for other black athletes in professional sports. He was the first black baseball player to play in Major League Baseball. What would professional sports be without all the greatest black athletes such as Michael Jordan, Muhammad All or Jackie Robinson? Today the NAB is filled with a large majority of African American players. The NAB would be nothing without those players. Muhammad All was a boxer, businessman and social activist for equal rights for all races.He wanted equal opportunities for all men, regardless of color, to be successful. Michael Jordan was considered the best basketball player of all time with five regular season Most Valuable Player awards along with three all-star Maps. He had a huge impact on the sport, dominating it from the mid 8(Yes through the late asss. Professional sports and society would not be the Same without them. African American athletes, including Jackie Robinson, Jim Brown, Muhammad All, Michael Jordan and others had a huge impact on American society and sports such as baseball, boxing basketball and football.Jack Roosevelt Robinson was born on January 31, 1919, in Cairo, Georgia. Throughout his 10 year long career he was constantly fighting for more rights for blacks in sports and society. Jackie was the first African American to play in Major League baseball. He was the youngest of five children who were raised in poverty by a single mother. Him and his family already had a hard life even aside from all the racism they faced living in the south in the early 1 asss. His older brother Matthew was one of his biggest inspirations for him to PUrSUe his talent in athletics.Matthew won an Olympic silver medal in the 1 936 Olympic games. After high school Jackie went to the University of California where he lettered in four different varsity sports. Before he could graduate he had to drop out for financial reasons. He then went on to play semi-pro football in Hawaii, but the season was cut short due to the starting of World War II. For two years he served as a lieutenant in the United States Army. However he was arrested for not moving to the back of a interracial bus. The charges were later dropped and he was given an honorable discharge. He had a lot of courage and was very against segregation.After his discharge he laded professional baseball in the negro leagues. But because of Robinsons great success he was soon hired by Branch Rickety to play for the Brooklyn Dodgers, in the white league. Branch knew Jackie would be facing severe racism but told him to fight it and stay strong. Throughout his career Robinsons courage was tested. Even many of his teammates were against his playing on their team. Jackie and his family received many threats and criticism. Despite all this adversity Robinson still was extremely successful and was leading the AAA league with a . 349 batting average and . 985 fielding argental.This success got him promoted to the ML and the first game a black player ever played in an ML game was April 15, 1947. The harassment continued. Many teams threatened to not sit out against the dodgers and even some of his own teammates threatened to not play. However Dodgers Manager Leo Drencher told his other players that he would trade them before Robinson. Leo had a very strong loyalty to him. Some people defended Jackie including baseball commissioner Happy Chandler and league president Ford Brick. Jackie Robinson was successful in showing how talented a player e was by being able to push through all the racism and adversity.His first year he helped the Dodgers win the National League pennant. He also led the league in stolen bases and won the Rookie of the year award. In the 1949 season he had a . 342 batting average and led the league once again in stolen bases. This led to him being named the National leagues Most Valuable Player. All these impressive feats led him to be labeled as a hero of the sport. Robinson also became a vocal champion for African-American athletes, civil rights, and other social and political causes. In July 1949, he testified on scarification before the House Un-American Activities Committee.In 1 952, he publicly called out the Yankees as a racist organization for not having broken the color barrier five years after he began playing with the Dodgers. He was very active in social activism for blacks rights. His biggest focus was impacting others lives. Which is shown in this quote said by Jackie Robinson, A life is not important except in the impact it has on others lives. He had a great impact on many peoples lives successfully completing his life goal. After Jackie died his wife created the Jackie Robinson Foundation, which provides nouns students with mentoring programs and scholarships.This program has given 50 million dollars in scholarship money to students across the country. This program was described in the New York Times as, that might be the best educational effort in the country. Jackie was one Of the most influential people on the lives of young people especially young black athletes. Without him this country would not be the same. Cassias Marcella Clay, now known as Muhammad All, was born in Louisville, Kentucky on January 1 7, 1942. He has shown throughout his life that he is not afraid of any fight-?inside or outside the ring. Growing up in the segregated South, All experienced firsthand the prejudice and discrimination that African-Americans faced during this era. He faced racial discrimination head on and it even help Muhammad discover his talent in boxing. When All was 12 his bike was stolen and he told a police officer that he wanted to beat up the thief. Well, you better learn how to fight before you start challenging people, the officer said. This police officer also owned a gym and trained boxers and took Muhammad under his wing and trained him. His first fight ever was in 1954 and was an mature fight that he won by split decision.Only 6 years later he won an Olympic gold medal. Then in 1 964 he claimed the throne as heavyweight champion of the world. Soon after Cassias turned changed his religion to Muslim and changed his name to Muhammad All. Later All created a lot of controversy in the government by refusing to fight in the war after being drafted. Alias reason was that he was a practicing Muslim minister, and that his religious beliefs prevented him from fighting in the Vietnam War. (Bio) The government took All to court and he was found guilty of refusing to join the military.All appealed the ruling and after a long court battle the ruling was overturned. However the boxing association still took away Alias titles and suspended him. In 1970 he returned to the ring. That year All took part in what was called the fight of the century. This fight was between All and Joe Frazier, two of the greatest veering in boxing. After 15 rounds of brutal boxing Frazier bested Muhammad in knockout fashion. Later in 1974 they had a rematch and All got revenge by beating Frazier. His last ever fight was a loss to Tremor Berwick to lose his Heavyweight title in 1 981.He announced his retirement in a press conference following the fight. After his retirement he still was very involved in the community and become a great philanthropist. Over the years he has been involved in many charitable activities such as the Special Olympics and the Make a Wish Foundation. He was also extremely active in fighting for equal rights for African Americans. Outside of boxing, Alias message of black pride and black resistance paved the way for the civil rights movement. (skyline) More recently in 2005 he was given the Medal of Freedom by George Bush. Bush also created theMuhammad All Center in his hometown of Louisville, Kentucky. Alias thoughts on this building are Many fans wanted to build a museum to acknowledge my achievements. Wanted more than a building to house my memorabilia. Wanted a place that would inspire people to be the best that they could be at whatever they chose to do, and to encourage them to be respectful of one another. (BIO) Muhammad All is arguable the greatest, and most inspirational men ever. He was constantly helping people and working to make lives better for those around him. These great men have influenced the lives of an uncountable amount of people.

Summrize and paraphrase Essay Example | Topics and Well Written Essays - 500 words

Summrize and paraphrase - Essay Example Intersect defines similarly same concept. Parent child relationship corollary is based on the concept that the child’s actions and thought process is decided and dictated by the parents overall presence and personality. Adjustment, correlation and combination within and is termed as a concept called hierarchy formation. Parametric design is a specialization within the advanced concept of 3-D modeling. This feature enables multiple benefits such as the dimensions determination as well as the geometrical aspects understanding and calculation. Association within refers to the concept of aligning two or more components towards finding a common function and feature within. Sketched feature comes in contrast and difference to the 3-D models and concepts that are commonly prevalent. Although not as efficient as the 3-D model, yet it serves the objectives in the form of determining the union, intersection and other similar features associated with the structure of a given material or given design. Parametric association between different components can be judged from the name derived against it. These include the functions such as assessing the different dimensions and providing for a more accurate design and observation of the different angles within the modeled structure. Assembly constraint is a concept that is associated with the consideration of ensuring that the different design aspects and prerequisites are fulfilled. Axe, Edge and other domains and dimensions of a given structure are taken into account while gauging the assembly. Designs are highly prone to possible error and defect during the process of manufacturing. This can be eliminated through the design intent function which allows good handling of the designs with regard to making a better crafted structure. Other aspects of design making make include taking into account factors like re arranging of the structure, re visiting the geometry and further modifying the parameters. The sole

Dq-4.1-Sheila Coursework Example | Topics and Well Written Essays - 2000 words

Dq-4.1-Sheila - Coursework Example The socio-technical system is one of the new systems that are employed firms to enhance better performance among their teams of workers working at different levels globally. This system coordinates workers easily thus team work is embraced. Other improved communication channels also play a major role here. Such technologies include Blackberry phones, iPhones and android phones. This paper is going to highlight how the communication in departments and teams can be improved by these innovations. A socio-technical system is a combination of technology and the people in the society. It is an operational system that enhances the working together of all the members in the society using the available techniques (Bass, 2012). Due to this reason, most organizations and business firms employ the socio-technical systems that are easy to adopt. They use these systems to make communication an instant thing in their operations despite the distance between workers. There are various types of socio-technical systems that have been put in use by many globally operating firms (Horspool, 2011). Some of them include Skype, online chats, emails and video conferencing. All of these systems require some components to operate effectively. There are some parts that are common to all of the socio-technical systems. These parts are the software, hardware, procedures, and the people using the system (Frederiksen, 2013). In my workplace we use videoconferencing to hold some board meetings with regional managers in different parts of the world. The use of videoconferencing and Skype can be classified as socio-technical. Therefore, the socio-technical system is also in use at my work area. Knowledge workers who are dispersed to far places in the world sometimes face difficulty of communication. The socio-technical systems are some of the few opportunities available for these team members to connect without being disturbed with the distance. Due to this there is need

Aston Martin's New Idea Essay Example | Topics and Well Written Essays - 1000 words

Aston Martin's New Idea - Essay Example The essay finally tells about the impact of the marketing plan on the sales of the company and the need for right strategy for developing the effective marketing plan. Table of Content Introduction 4 Marketing plan 5 Marketing objective 5 Target market and Segmentation 5 Marketing Strategies 6 Budget 7 8 Introduction Aston Martin, the iconic name in the world of cars, was founded in 1913 by Robert Bamford and Lionel Martin. The car company is headquartered at Gaydon, Warwickshire in England. Aston Martin is known for its luxury and style around the world. There are various models of the car in the market but some of the famous models include Aston Martin DB series, Lagonda Marque, Aston Martin One-77, etc (Aston Martin, 2012). The company has recently decided to change the style and theme of the car to make it more attractive and appealing to the young people in the age group of 20s. This idea of developing a new style and theme for Aston Martin cars can be both advantageous and disa dvantageous for the company. The whole idea of the company with its plan is to increase its market share and profit by targeting new markets which would mainly comprise people of today’s generation, especially in the age group of 20s. ... Marketing plan The marketing plan based on Aston Martin’s new approach to attract a new target market requires a planned marketing strategy which can be discussed as follows: Marketing objective Marketing objective is related to the company’s objective associated with Aston Martin. The objective of the company should deal with its long-term plans in establishing Aston Martin as a brand not only for luxury seeking people but for younger generations. Young people who prefer the sporty look with style and luxury but with different theme and design can be a great market opportunity for the company in terms of market share. Target market and Segmentation Segmentation is important for any company because of reasons such as process of segmentation of products according to their life cycle, and finding which product is to be segmented as per the consumers whom the company is targeting. The target market strategy for the company would begin with the analysis of market opportunit y which would allow the company to estimate the sales and size potential associated with the market segment (Lamb, Hair, & McDaniel, 2008, p. 49). Target market strategy implies the importance of segmentation of market for Aston Martin in order to achieve the marketing objective. Marketing Strategies Marketing strategy for the company should be based on market penetration, market development and promotional tools. Market penetration for the company decides it strategy based on the pricing strategy. It is often seen that companies reduce their product price to penetrate the market and attain a considerable market share before planning for market development. Aston Martin can penetrate the new

Macro-Economic Objectives and their Impact on Business Activity Assignment

Macro-Economic Objectives and their Impact on Business Activity - Assignment Example The RPI reflects a weighted average of price rises over the previous 12 months and as such it can be seen as the rate of inflation affecting the average household. (Jewell, 2007) Economists attribute inflation to one of the three causes; Excess demand in conditions of full employment, this is also known as demand pull inflation. Monetary inflation, which is the excess rise in the money supply A rise in the cost of production that is, in turn, passed on to the customers by firms enjoying some degree of monopoly power. This is cost push inflation. Inflation leads to a rise in prices, it has the effects of redistributing purchasing power. Businesses might suffer if their customers experience a decline in their real incomes. Moreover, if the inflation is one of costs rather than prices, profit margins will be squeezed. Conversely, inflation caused by access demand may lead to an increase in profits margin. One of the most damaging aspects of inflation from the business point of view is t hat it makes planning for the future difficult. Budgeting becomes difficult. Making provisions for expenses and purchases becomes difficult as prices tend to increase. (Jewell, 2000) The unemployed are defined in government statistics as those people seeking work who are unable to obtain a job. Unemployment can occur due to deficiency in demand; this could be cyclic, which is temporary during recession. Or it could be persistent which results from long-term deficiency. Technological advancement curb the need for manpower and this can also result in unemployment. Structural unemployment occurs when there is a change in the structure of demand leading to the decline of a major industry. Regional unemployment occurs when a major local industry declines leaving the workers of that area unemployed. Frictional unemployment results from the unemployment while job changing. Another form of unemployment is voluntary, which is the unwillingness to work at current rates of pay McEachern, 2008) . In theory, a high level of unemployment should increase the reserves of labour available to business. Firms that are starting up would find labour easily. Furthermore, excess supplies of labour may also weaken the resolve of unions to demand high pay. These were the advantages of unemployment; however, it is possible for unemployment to coexist with shortages of particular types of labour or shortages in certain geographical regions. (Frank & Bernanke, 2001) Economic growth is basically an increase in the productive capacity of the economy or a rise in real national income per head. As it provides the means for achieving higher living standards for all, it opens up the prospects of reducing poverty without the necessity of income redistribution. Economic growth is beneficial to private sector firms. New market opportunities will be created in an expanding economy. This provides scope for emerging businesses as well as the expansion of existing ones. A growing economy is favorable for any business and especially the ones that are new. Economic growth is measured by the increase in the gross domestic product (GDP) of the country. GDP can be measured by the expenditure approach or by the income approach. (Wessels, 2006) International Trade and the Balance of Payments The balance of payments is a set of accounts recording details of a nations transaction with the rest of the world. The current account measures a country's trade in currently produced goods and

The current Shipbuilding market in China Essay Example | Topics and Well Written Essays - 2000 words

The current Shipbuilding market in China - Essay Example The chief products of the Chinese ship manufacturing consist of large sized carriers and oil tankers. China has 70 shipyards that have the capacity to erect ocean gliding vessels. CSSC and CSIC are the main (Schuster, A M.H 2000).ship constructing giants. By 2005, the ship manufacturing authority; COSTICN announced ambitious schemes for the evolution of the Chinese ship designing industry that, the industry is scheduled to control twenty five percent of the bazaar share in 2010 and ultimately five years later, the projection that China would dominate as the world’s ship constructing nation with respect to tonnages. The contemplations anticipated 24 millions DWT; the analogous control of 35% of the market share. CSSC, the largest shipbuilding category, have committed $ 3.5 billion to enhance a modern shipping base in Chanxing isle of Shanghai. After the accomplishment of CSSC, Changxing would emerge as the leading ship building company world over. Future projections hold the ax iom of thinking that by 2015, three large ship construction centers of the Chinese shipbuilding industry are to be constructed. (Schuster, A M.H 2000). The shipping industry in china is a fundamental monetary domain for China’s very existence. For quite along time, the industry has been the main foreign exchange earner for China. China ship construction entry into the international market commenced in 1978. The industry has proved successful for the last 26 years. On the fourth year of the 21st century, China’s Gross Domestic Product (GDP) was at 1.65 trillions, and as such it was positioned number seven globally, (Hutchins, J.G.B 1941). If rating is anything to go by, then China is the only developing country to feature among the top ten nations globally, in terms of GDP. For the last 25 years, the Chinese economy has maintained a high growth tempo, which is relatively at 9.4 percent per annum. With the impeccable statistics, it is therefore true that China is the

Ending the Employment Relationship Essay Example | Topics and Well Written Essays - 3000 words

Ending the Employment Relationship - Essay Example iticizing organizations and more importantly this results in the increased turnover rate as employees get demoralized and they get some idea about the up coming in almost every organization they work, retirement is an honorable work, the worker respectfully gets retirement from work and it is also a good sign as if the retirement would not have taken place than the employment cycle would have been disturbed and there would be no new blood in old organization that would have appeared. "Currently Nepal Bank employs 6,600 people, more than one-third of all those working in the Nepalese financial sector. In 1990 the bank reduced its workforce by 800 people. This was achieved by a combination of voluntary redundancy and early retirement fostered by a generous incentive" (Budhwar, 98: 2001). In the present casIn the present case it is very clear that the main cause for redundancy and retirement is the willingness of the organization to get compressed so that all the operations can be handled easily, but can organization work more effectively this way Can organization retain the same value or can increase it The above mentioned are few questions that bring in relation both the employers and employees, these are few serious matters that we have to discuss, it is really unfair with the country to control it this way, on second thought it is also very difficult for the organization to adjust with out people who were previously working for the betterment of the organization. In the current world women are working more in the society than men, there are good reasons though for eliminating the women from the employment but yet it is unethical, there are being eliminated due to the facts such as they are unable to work with full concentration after marriage and at times they are retired prematurely, in order to get the work done by some new fresh graduate, which is having both positive points to be discussed and negative as well, positive in terms of giving youth a chance to prove itself and negative because of an unfair decision of firing someone if not directly than indirectly through retirement. Few causes of Redundancy Martin has defined redundancy in 2000 as "the work for which the employee was employed has ceased or diminished. Here the selection of a particular individual has to be shown to be fair". It shows that the entire process starts from the time the employee is recruited, though it is a long procedure and the organization tries to be as fair as they can in selecting employees, but there is no guarantee that the employee would keep the job, so from this view the redundancy threat starts taking place in the mind of the employee, only a strong bond with the organization can keep

The Perfect Storm Film Essay Example for Free

The Perfect Storm Film Essay My favorite part of The Perfect Storm actually happens when Bobby Shatford, and Albert Pierre have a bad premonition and decide not to go on the trip. Knowing they are right adds to the suspense of the situation. This part of the book is the most unbelievable though because the trip is their job, it seems like they would go. The most believable part was how the storm is described. It might seem unrealistic but I think it is tame to what can happen in the ocean. There are all kinds of dangers in the ocean. Over all I do not like the suffering of the people on the boat and also the later suffering of the people of the town. While I did not like the suffering my favorite character was in fact the storm, the storm represented so much such as nature herself, the unbeatable opponent, etc. The storm was the most crucial character in the book. The ending was all right but not what I expected. I had thought the book would be a lot different starting with some guys going to sea then going through a storm and either ending in the storm or shortly after but a lot of info was given about fishing, and the ending went farther then I expected. The title fits the book because during the book you are told about the past and how bad the sea can be and then this storm happens that could happen at any time now or when people first began fishing in Glouster and it is as nasty a storm as you can imagine. A major theme of the book was man vs. nature.

Setting Up a Joint Venture in China

Setting Up a Joint Venture in China FDI into China: Brief history Before 1980, under the presidency of Mao Tse Tong, China was a country completely closed to the world with a rigid and communist government. After that date, Deng Xiao Peng and the post-Mao government established a new foreign economic policy and announced that China would open to the outside world (Pearson, 1991). This new open-door policy only allowed contractual JVs (as lower risks) and China provided foreign investors with a specific partner. In the first years of the countrys opening, only  ¼ of contractual FDI where realized as investors were uncertain of this completely new environment. Moreover, many FDI were fraudulent (Fung, 2002). From 1992, FDI doubled and China started to welcome western multinational enterprises in specific sectors: automobile, petrochemical, telecommunicationsà ¢Ã¢â€š ¬Ã‚ ¦ but only in selected zones of the country (SEZs: Special Economic Zones). China has quickly become the fastest growing economy and possesses 25% of the worlds population. FDI to China represents more than $80 billion in 2007 which shows that a decline in the economy is almost impossible ($130 billion in 2009) in comparison, FDI to India represent $3 billion per year (Lau, 2007). China: the best place to invest? However, despite the many attractive sides of China as a FDI destination, many western companies have faced failure when doing business in China. Indeed, in the case of JVs, the government provides a Chinese partner to the foreign investors that can face many different roadblocks: unfamiliarity with the business environment, corruptionà ¢Ã¢â€š ¬Ã‚ ¦ (Yallapragada, 2003). In front of the rapid and unique economic development of China, some investors have rushed into investing in this promising country that seemed to offer so many advantages, ignoring some essential facts, (that will be developed later in the study) critical for the success of an investment. Since 1990, broad researches have been conducted concerning FDI and more particularly JVs in China and there is a good understanding of FDI mode decisions, the behavior to adopt to lead to a JV, inter partner concernsà ¢Ã¢â€š ¬Ã‚ ¦ More research needs to be done concerning the factors that lead to success or failure of JVs Dissertation background The main reason behind the topic selection is that it is an area of interest to the author who can research what makes companies chose China as an FDI destination but more specifically what should be looked at to avoid the multiple failures that foreign companies have faced by developing a JV with a Chinese partner. The author aims at giving a more definitive picture of the Chinese FDI environment and that behind the image of China as a very attractive place for FDI, there are complex laws, regulations and a multitude of other factors that are not necessarily looked at by foreign investors and cause failure. Another reason is that this topic covers issues which are very relevant in todays business environment. It is a topic of interest for many business people and more and more academics around the world due to its unique development: 9% growth of the GDP per year since 1978 and 15% growth of the foreign trade per year (Lau, 2007). There is a belief that China could become the worlds largest economy in 25 years. Aims and objectives The overall aim of the dissertation is to study and critically analyse the foreign direct investment (FDI) environment of China by focusing on market-seeking joint-ventures (JVs) in a specific industry: food and beverage (soft). This study will be carried out using and appraising current academic literature and theories on JVs forming in China. Both secondary and primary research will be used. This critical study will be carried by tempting to achieve the following objectives: Identify the motives and determinants of FDI, focusing on market-seeking joint-ventures (JV) in China Identify the environmental regulations that facilitate or slow JVs down in China Identify the barriers to JVs in China and the main causes of failure Identify the key success factors (KSF) of western companies forming JVs with a Chinese partner and how barriers can be overcome The main focus will be on Western companies, especially French firms in the food and beverage industry. Structure of dissertation The study will be divided in 7 chapters: Chapter 1 is an introduction to the dissertation, explaining the background of the topic, the aims and objectives Chapter 2 is a review of the existing literature: journals, newspaper articles, books and Internet-based sources giving more insight into the topic of setting up an  IJV in China Chapter 3 explains the methodology that has been adopted to research and write the dissertation, including secondary and primary research methods Chapter 4 provides with findings and analysis trying to answer the aims and objectives of the dissertation Chapter 5 is a discussion of the findings Chapter 6 concludes the study and gives some recommendations. The author will in this part develop a model for successful IJV setting up in China Chapter 7 is a reflection on learning Chapter 2: Literature Review The following literature review is based on existing sources coming from a hybrid of academic books, journals, newspapers and credible Internet-based sources. This literature review will allow giving more insight into the topic and will also allow identifying any gaps in the existing literature to be covered in further primary research. The literature review will provide the author with a stronger base on which to develop a theory at the end of the dissertation. 2.1 Chinese investment environment 2.1.1 China, the fastest-growing economy The Chinese investment environment has been widely reported in the literature. Most of the authors agree that the Chinese government has made great achievements in terms of FDI since 1980. Lau Bruton (2007) describe China as the fastest-growing economy which can be explained by greater economic liberalization and easier repartition of profit by foreign investors. Fung (2002) explains that the promotion of FDI by the Chinese government has been an important part of the economic reforms since the open-door policy and made China the most important destination for FDI. The authors explain how China has gradually evolved in terms of FDI policy: Stage 1: Gradual and limited opening Stage 2: Active promoting through preferential treatment Stage 3: Promoting FDI in accordance with domestic industrial objectives Ng Tuan (2002), describe China as a FDI-friendly environment that possesses very attractive environmental factors such as the size of the Chinese market, its potential to growà ¢Ã¢â€š ¬Ã‚ ¦ Argawal Wu (2003) describe China as a key player in the global economy and that its high economic growth has transformed China into one of the worlds largest economy. The transition from a command economy to a market-based economy has been incredibly and remarkably successful. Another factor that made China even more successful in terms of FDI is its entry to the World Trade Organisation (WTO). Fung (2002), Ng Tuan (2002), Yin (2009), Hoa (2010) and many other authors agree to say that China has had many difficulties to become a member of the WTO. After 15 years of high improvements, by reforming its economy and trade to be more market-oriented, by reducing tariffs and non-tariffs barriersà ¢Ã¢â€š ¬Ã‚ ¦China finally accessed the WTO in 2001. This accession gave remarkable benefits to China, who was promoted by the organization as a central stage in international trade. The Chinese battle to enter the WTO is described as an example that other nations (eg Russia), could learn from in order to access this organization. 2.1.2 Problems More and more authors in the literature insist on the difficulties to enter China. Being the fastest-growing economy does not mean that any MNE can enter the market easily and without any risk of failure. In front of all the attractive sides of the Chinese investment environment, and after its accession to the WTO that gave trust to foreign investors, many western MNEs (eg: Pepsi) have rushed into entering China and have faced insurmountable problems such as corruption, absence of trust and transparencyà ¢Ã¢â€š ¬Ã‚ ¦ (Yallapragada, 2003). Zhang Fu (2008) describe China as a stringent environment that can have a negative impact on FDI. They remind us that even if China is the first recipient of FDI, there is a high disparity in geographical distribution. It is important to determine which region the foreign company is to invest. Indeed, the remarkable economic development of China has developed major problems such as extreme pollution. Because of the environment deterioration caused by FDI in certain regions, the government has put in place very strict laws that foreign investors are not necessarily aware of before setting up their business in China. While many countries in the world are facing an economic downturn, Chinas economy is still expecting to grow by 11% in 2010. However, Tse (2010) explains that despite this fact, the Chinese market is really tough. He explains how the recent clash of Google and the Chinese government; the vulnerability of property rights; the remaining restrictions on foreign ownershipà ¢Ã¢â€š ¬Ã‚ ¦ are good reasons that CEOs should take into account before deciding if entering China is a risk worth taking. The authors explain that the decision to physically enter China must be taken really carefully; a lot of research must be followed and more importantly companies must be ready to compromise and comply with Chinese laws. 2.2 Joint-ventures in China 2.2.1 Definition of a JV There is no legal definition of a JV in the literature. A JV is commonly defined as a partnership between two or more companies who create a legal entity to undertake economic activities. In this dissertation, the author focuses on international JV that necessarily includes two or more parties from different countries. Hollensen (2007) defines a JV as an equity partnership typically between two partners. It involves two parents creating a child acting in the market (Hollensen: 339). Figure 2: Equity Non-equity JVs by Hollensen (2007) A non-equity JV is defined by Hollensen as a strategic alliance between partners who do not commit equity or invest into the alliance. It is also called Contractual JV and does not involve the creation of a third entity. This form of JV will not be taken into account in this dissertation. Fung (2002) mentions that CJV were the vehicle of choice in the early opening of the Chinese market as it lowers the risks for the foreign partners. An EJV is a third entity formed by firm A and B. Both firms contribute equity to firm C. This form of JV allows international marketers to access complementary skills and resources, share risks and costs (Clarke Wilson, 2009). According to Hollensen (2007), the JV can be: resource-seeking and based on upstream collaboration (RD and production) market-seeking and based on downstream collaboration (marketing, distribution, sales, service) Both upstream and downstream-based collaboration 2.2.2 JVs in China It is widely reported in the literature that JV has been, from the opening of the Chinese market, a vehicle of choice. Yallapragada et al (2003) define JV in China as a sort of arranged marriage as the government provides a Chinese partner to the foreign investor. The authors mention that most of the JV failed and sustained huge losses or just abandoned the project because of the lack of understanding of the Chinese partner. EJV became increasingly important from 1987, representing more than 60% of all FDI. This tendency is now decreasing as the government encourages FDI in the form of wholly foreign-owned enterprises (Fung, 2002). The literature insists on the cultural differences leading to failure when forming a JV in China. However, there are many other factors to consider, the main important one being the law. The JV laws and regulation are different in China and in Western countries. Indeed, if we take the example of Europe, the regulations are different from a country to another: in France, a JV exists if a new juridical personality is created, has means and capital. In Anglo-Saxon law, a new created entity does not necessarily have juridical personality but is however considered a JV (ChinaOrbit.com). The country of origin of the foreign partner is an important determinant of success or failure of a Sino-foreign JV (Osborn Hagedoorn, 1997; Lin, 2004). Several case studies in the literature give example of the importance of country of origin as a determinant of IJV success in China. Those studies will be used as examples by the author to answer objectives 3 and 4 of the dissertation. The case studies include giants in the FB industry: Coca-Cola (Datamonitor, 2009; Mok, 2002), Pepsi-co (Yallapragada, 2003), Danone-Wahaha (Dickinson, 2009), Carrefour (Child, 2006). 2.3 Doing business with China 2.3.1 The cultural gap The unique culture of China is widely reported in the literature as being the main cause of failure for Sino-foreign JVs. It is really important to understand the Chinese culture before investing in China (Stark et al, 2005). Chinese business people are described as being extremely tough negotiators. Some authors in the literature think that negotiating is an art for Chinese business people (Pye, 1982; Lee Lo, 1988; Graham et al 1994). China has a really unique view of the world and if the foreign partner is ignorant of the other parties views of the world, it will create a major problem in the negotiation process (Stark, 2005). For example, Tuttle et al (2009) explain that business in China is more to serve the interest of the state rather than the owners of the business. Mc Kenna Sun (2007); Woo (1999); Herbig Martin (1998); Trombly (2006) and many other authors explain different aspect of Chinese negotiation such as the issues for women to participate in negotiations, the saving-face concept of China, the attitude to adopt when negotiating business (eg: building trust as a first step)à ¢Ã¢â€š ¬Ã‚ ¦ The authors are only describing the Chinese way of doing business. In the framework of this dissertation those information can be used as tips for foreign investors willing to invest in China. Katz (2006), founder of Leadership Crossroads has had a successful experience in productive cooperation across cultures. He has interacted in China with employees, customers, outsourcing partnersà ¢Ã¢â€š ¬Ã‚ ¦ Katz describes in his book the best ways to negotiate international business with China. His study is based on his experience but also on the work of Trompenaar (1997) who divided culture into seven dimensions (Appendix 1). Once again the author describes the unique Chinese culture and the best ways to approach it in a business environment. Using both authors theories together with Hofestede cultural differences, the author will consider wether western culture, especially French culture give the firms an advantage in dealing with the Chinese as many studies shows that cultural misunderstanding causes major problems in IJVs. 2.3.2 GUANXI In the literature, some authors insist on the Guanxi concept when establishing business relationship with China. Zhu Zhang (2007), define Guanxi as the need to establish a relationship either with someone or something (e.g a brand-name). Guanxi mainly is a relationship building and according to the authors, it takes into account several notions: Jianli ganqing: developing connection between people Jiao pengyou: making friends Yanxuing touzi xingwei: continual investment behaviour Chinese business leaders such as Mr. Chang and Mr. Cao, CEOs of telecommunications companies based in Zhengzhou and Xian indicate that the action word for developing Guanxi is Jianli meaning establishing the connection with people but not forcing it by dishonest means. For some Chinese business people, Guanxi is an essential element when doing business in China and is strongly related to the Confucian tradition and collectivist culture (Xin Pearce, 1996). However, other authors in the literature have reported that even if Guanxi has long been the best approach to successfully set up an IJV in China the effect of Guanxi are not only positive. Rahman (2008) explain the risks that exist when establishing a Sino-foreign IJV based on Guanxi (high performance, resource and trade-off risks). The author reminds that Guanxi is necessary when collaborating with a Chinese partner but not sufficient. When a Western company chooses a local Chinese partner according to the size of its Guanxi, it will be beneficial for the companys short term goal of market entry, but its long term goal of succeeding in the IJV will encounter problems. Gu et al (2008) define Guanxi as the durable social connections and networks a firm uses to exchange favors for organisational purposes. The authors draw the benefits and risks of Guanxi and show that Guanxi can be necessary but does not always matter. Even if personal networks are popular all over the world, the authors insist on the uniqueness of China who has distinct ways of operation. 2.4 Critical literature conclusion The literature widely mentions that JV in China fails because of the huge cultural differences between China and the western partner. However, there is a gap in the literature as there are many other aspects that can cause failure and that are not deeply taken into account in the literature: law, bureaucratic roadblocks, corruption, management controlà ¢Ã¢â€š ¬Ã‚ ¦ The literature tends to concentrate on Sino-American/ Japanese/ British JVs, there is a lack of information about Sino-French JV and the primary research of this dissertation will mainly aim at filling this gap by focusing on the food beverage sector which is not widely reported in the literature. Moreover, the literature describes that ignorance of the other parties culture, regulations, the non-establishment of Guanxià ¢Ã¢â€š ¬Ã‚ ¦ are main causes of failure but fails to explain how a two-way dialogue can be established between Chinese and Western leaders to make the JV successful. The dissertation will also point-out what makes cross-cultural relationship successful as it is not clear in the literature. Chapter 3: Methodology 3.1 Data requirements To recap, the overall aim of the study is to acquire a better understanding of the Chinese business environment for a Western company to successfully set a JV up with a Chinese partner. After examining the literature review, the author has identified key research questions that will be answered in chapter 4 of the dissertation to meet the objectives stated in chapter 1: What makes a western MNE chose to deal with a Chinese partner to set up a JV in China? What factor is the most determinant: political, economic, demographic, labour (cost, productivity, education level), ease of access (market, suppliers) etc? What western investors should be aware of before setting up a JV in China in terms of legislation and regulation? Will the JV be private or state owned? What are the positive factors of setting up a JV in China (law, regulation, policies)? What are the negative factors that investors must be aware of to be best prepared? Why culture seem to be the main cause of JV failure? What western investors must know about the Chinese business culture? Does Guanxi always matter? How to overcome the cultural differences and set-up a two-way dialogue? What were the main causes of failure and KSF of Sino-French JVs? What contribution is put by each party in the JV? How each party value the JV? Is it more beneficial for the French firm to own more than the Chinese partner? To answer those questions, the author will analyse the existing academic literature, including articles and case studies that will be used to provide issues and/or solutions that exists in the food and beverage industry. Case studies such as PepsiCo, Coca-Cola, Carrefour, etc. will be analysed. To feel the gap in the literature, the author will also implement real world researches to have an in-depth understanding of the Chinese culture and also, to have a better understanding of Sino-French business relationships as it is not widely reported in the literature. By this mean, the author will be able to collect major primary data provided by experts that have experience in doing business with China. 3.2 Research Design 3.2.1 Review of the fundamental research methodologies 3.2.1.a: Exploratory, causal and descriptive research Wrenn et al (2007) states that there are three main categories of research design: exploratory, causal and descriptive, the can use both qualitative and quantitative methods. An exploratory research design is used to gain more insight and understanding into a topic. It is described by some authors as a detective work when the author as to look for clues to find out what happened or is currently taking place. It required the author to adopt a very flexible attitude to collecting information. Wrenn et al (2007: 34) state that an insatiable curiosity is a valuable trait for exploratory researchers. This type of research is needed when the author has an objective of depth interviews, one of the best ways to acquire desired insight, clarificationsà ¢Ã¢â€š ¬Ã‚ ¦ Exploratory research is a type of qualitative research. A Causal research design is used when there is a need to determine whether two or more variables are causaly related and to what extent. When using causal research, the researcher manipulates the independent variable, measure the dependant variable and control other variables that could have an impact on the dependant variable. This type of research requires the use of quantitative research methods such as statistics (Chi-square analysis, correlation, regression testsà ¢Ã¢â€š ¬Ã‚ ¦). A descriptive research design seeks to describe a phenomenon. It is used when the researcher has an objective of describing the characteristics of a specific group, estimate the percentage of the population that act, thinkà ¢Ã¢â€š ¬Ã‚ ¦the same way, make specific predictions (Wrenn et al, 2007). Descriptive research is the most rigid research design and needs to be very structured. This type of research implicates that the author already have a major knowledge of the topic or research. Descriptive research uses quantitative research methods. 3.2.1.b Qualitative v. Quantitative Qualitative research is defined by Schimdt Hollensen (2006) as an investigation to help understanding and answering questions by collecting evidences. This type of research method allows conducting exploratory researches and requires the use of: Observations: observing and analysing behaviours in their usual contexts Focus groups: group discussion to collect effective data about a group of individuals having the same cultural norms In-Depth interviews: usually individual face-to-face interview to understand what is in a specific persons mind about a specific topic Qualitative research allows the researcher to collect open-ended data and develop themes from the data collected. Quantitative research can be both descriptive and causal. Aliaga Gunderson (2002: 1) define quantitative research as explaining phenomena by collecting numerical data that are analysed using mathematically based methods (in particular statistics). Because quantitative research involves numbers, statistics it is seen as a more realist research method. Quantitative methods are good at looking at cause and effect relationships between two or more variables. The majority of researchers talk about paradigm war when it comes to differentiate qualitative and quantitative methods. They are seen as incompatible (Muijs, 2004). However, more and more commonly, researchers use mixed-method approach. It is a more pragmatic way to collect data, using both quantitative and qualitative research methods. In order for a mixed-method approach to be efficient, the researcher needs to consider all the relevant characteristics of both quantitative and qualitative methods. Table 1: Comparison of quantitative, qualitative and mixed methods QUANTITATIVE QUALITATIVE MIXED METHOD General Framework Aim at confirming a hypothesis about a phenomenon Predetermined Rigid style of categorising responses to questions Structured methods  : questionnaires, structured observfations, surveys. Aim at exploring and understanding a phenomenon Emerging Flexible style of categorising responses to questions Semi-structured methods  : participant observation, depth interviews, focus groups Both exploring and confirming a phenomenon Both predetermined and emerging Both rigid and flexible Both structured and semi structured methods Objectives of type of research Descriptive: To describe and quantify a phenomenon Causal  : to predict causal relationships To describe the characteristics of a population Explanatory  : To explain a phenomenon Exploratory  : to describe and explain relationships To report individual experiences To both quantify and describe a phenomenon To both causal and exploratory To both describe a population and an individual Question type Closed-ended Open-ended Both closed and open-ended questions Format of data Numerical data (statistical, assigning values to responses)  : performance, attitude, observational and census data Textual data from interviewees,observations, case studies analysis, video/audio tapes Multiple form of data drawing on all possibilities  : Statistical and text analysis Flexibility of each methods The response of participants does not influence which question is to be asked next The design of the study remains stable Subject to statistical assumptions and conditions The response of participants influences which research question to ask next Some aspects of the study are flexible  : wording (addition or exclusion) of a particualar interview Data collection and research questions are adjusted according to what is learnt Can be both flexible and rigid Table 1 has been realised following two authors theories: Creswell (2003) and Bernard (1995). According to them, it is useful to first consider qualitative and quantitative possibilities for data collection before selecting one, to which the dissertations author has added mixed-method approach. 3.2.2 Choice of research method and justification Desk research has first been used to collect information that already exists in the literature. This information was both internal and external to organizations and help having an in-depth understanding of the subject. Primary research has then been used to fill the gap that secondary research cannot fill. Quantitative methods have not been used as the author wants to explore the topic in depth. According to Muijs (2004), quantitative methods fail when an in depth understanding is needed, when the author wants to really get under the skin of a problem. Moreover, quantitative methods require the author to define the variables to be studied whereas in the authors topic area, unexpected variables can emerge. The author chose to use qualitative research only. Indeed, the dissertation topic requires to specifically knowing what is going on in peoples mind, what are their views and opinion about doing business in China. More specifically, exploratory research has been used as the author needs to gain broad inside into the dissertation topic and achieve a better feeling when investigating. According to Schimdt Hollensen (2006), the most used qualitative research method is focus-group. However, the author chose to make use of individual depth interviews as current information is needed by directly asking questions to specific persons. Depth interviews allow the respondent to openly talk about his/her experience of doing business with a Chinese partner. Depth Interviews can be: Non-directive: the respondent is given freedom to answer by staying within the bounds of the topic Semi-structured: a specific list of topics is covered. The author is looking to establish the meaning of Sino-western/French business relationships from the views of experts. Indeed, in order to understand those relationships better as the literature fails to explain it in depth, the author seeks to listen to different individuals who have experience in the topic area and build an understanding based on their ideas. 3. 3 Research Approach Conclusion Recommendation Diagram 1 shows the plan followed by the author. In stage 1, the author research academic literature in accordance with the topic and develop research questions. Stage 2 is an in-depth analysis of the existing literature to help answering the research questions developed in stage 1. Stage 3 is what the author called real world analysis. This stage will allow the author to collect primary data to fill the gap of secondary research and bring a creative thinking input to the dissertation. Stage 4 consists of an analysis of the theoretical findings and real world findings. By combining both secondary and primary research, the author will be able to answer the research questions and to meet the dissertations objectives. Those findings will then be discussed and the author will conclude by providing western investor with recommendation by drawing a model including all the variables to take into account to successfully set a JV up in China. 3.4 Data collection methods and analysis As mentioned above, the author chose to use exploratory qualitative research only. In exploratory research, the main methods of data collection that is potentially suitable for collecting data are observations, focus groups and depth interviews. Observation is used to understand a phenomenon by observing it in its natural setting. The topic area does not belong to a phenomenon that can be observed by the author. Focus group involves a group of persons that discuss a subject under the direction of a moderator. The author is willing to distinguish individuals as opposed to groups and have the opinion of individuals. The author has selected in-depth interviews as the only method for data collection. As mentioned earlier, this method involves conducting intensive individual interviews with a small number of persons. The reason is that the author wants detailed information about doing business with a Chinese partner, the different stages in the JV forming, the advantages, difficultiesà ¢Ã¢â€š ¬Ã‚ ¦Acquiring detailed information about a specific persons opinion, behaviour, will allow the author to explore new issues in-depth. The sample is divided in two categories and includes: Individuals having experience in doing business with China: executives from French MNEs having formed IJVs in China, Juniors working in China for a French company. Chinese business people. The author has divided the s