A Balance of Cultures and Yourself At the beginning of his book, Global Dexterity, Molinsky Molinsky gives the tough situation that Eric Rivers, who had been an experienced and successful manager in the U.S., was confronted with in an Indian company due to cultural inadaptation. The vivid example then is followed by the concept of global dexterity and its importance. Afterwards, he lists 4 key steps of developing your own global dexterity. The rest chapters enumerate some helpful tips when adapting your behavior to new cultures. Finally, Molinsky concludes 5 takeaways to show the difference between the business world reality and conventional wisdom.
In the case study titled "J. C. Penney is Changing Its Competitive Strategy" Ron Johnson the new C. E. O. implemented a combination of Porter's Five Competitive Forces to overcome competition. In the next few paragraphs I will identify the strategies that he use in his attempt to change J. C. Penney dowdy image and low sales. In 2011 J. C. Penney's CEO Ron Johnson implemented his Fair and Square plan to turn the company around. This plan had many of Porter's Five Competitive Forces. The first one that I could identify was number four: Threats of Substitute Products or Services.
This theory is based on the concept that there are five forces that determine the competitive intensity and attractiveness of a market. Porter 's five forces help to identify where power lies in a business situation. This is useful both in understanding the strength of an organization 's current competitive position, and the strength of a position that an organization may look to move into. Strategic analysts often use Porter’s five forces to understand whether new products or services are potentially profitable. By understanding where power lies, the theory can also be used to identify areas of strength, to improve weaknesses and to avoid mistakes.
Porter. This analysis is used to measure the level of competition of the company in same industry. Abundant of economic studies stated that different industries can survive at different profitability level, the difference is explained by industry structure ("Porter 's Five Forces," n.d.). In other words, this model identifies industry structure based on the varied profit margins between industries, to help the company determines corporate strategy ("Industry Analysis | Porter’s Five Forces | Competition," 2014). The objective in this analysis is to help managers determine profitability and attractiveness of an industry (Investopedia, n.d.).
The Leadership Effectiveness Scale that Day and Sin (a) developed measures the effectiveness that leadership exhibits in differing roles and processes and the way the leaders develop (1). In particular, this instrument was designed with an aim of measuring the effectiveness that leaders exhibited after receiving some form of leadership development intervention (Day and Sin (b) 550). According to Day and Sin (b), there was a need among researchers to have an instrument capable of supporting their research and testing their hypotheses. With the Leadership Effectiveness Scale consisting of five questions on a 5-point Likert scale, this permitted the selection of the best response that the participants considered to represent the perceptions that
James M. Kouzes and Barry Z. Posner’s book titled, The Leadership Challenge: How to Make Extraordinary Things Happen in Organizations (J-B Leadership Challenge: Kouzes/Posner) 6th Edition, focuses on the Five Practices of Exemplary Leadership: 1. Model the way, 2. Inspire a shared vision, 3. Challenge the process, 4. Enable others to act, and 5.
Firstly, the Boston Consulting Group (BCG) matrix that concentrate the market position of different products. Secondly, the experience curve and the Profit Impact of Market Strategies model which identified a number of strategic variables. Furthermore, competitive advantages model (Porter, 1985) which focus on five different forces in environment of organization, but suit with only stable market. Generic strategy was developed strategies under this school, especially it can identify position in the market. Advantages: -Provide content in a systematic way to the existing way of looking at strategy -Particularly useful in early stage of strategy development, when date is analyzed -This school emphasis on analysis and calculation can be a very strong support to the strategy development process -This strategy suit with big businesses or organization which have ability for operate effective market research in the environment
It determines the successful continuity or otherwise of any business and therefore our routine occupations. According to Professor Michael Porter’s business strategy concepts, there are five main players in any industry or specific market which include;- • New entrants into an industry who cannot be avoided • Related products or substitutes which are continually developed • The customer who continually changes needs and/or preferences • The supplier of goods and services who can withhold the same or change terms of supply at will. Sadly, the same person either knowingly, or unknowingly, ends up sabotaging business. • The business rivalry which sometimes turns hostile, and occasionally leads to unethical practices These attributes of competition are a reality in business, just as much as they are in our personal lives. In formal employment, we are continually competing for promotions and other considerations.
4. Analysis of strategic capacities of Nikon Corporation This section analyzes the strategic capability Nikon. It starts with a value chain analysis, followed by a VRIN evaluation to determine whether there is any capacity can be sustained competitive advantage. 4.1 Value chain analysis Porter developed the value chain to help determine the internal activities for a competitive advantage, and which are not. The method includes breaking the company into five "major" and four "support" activities, and then looked at each one to see if they give a cost advantage and quality advantages.
To set up a competitive advantage and enhance productivity, associations must see their clients, as well as, their opposition. It is noted that porters five forces analysis turned into an important part in any official’s business toolbox. The model gives direction to help structure key choice listing to make deciding industry engaging quality elements adding to the force of focused competition, the threat of new entrants and substitute commodities, and the bargaining power of customers and suppliers. Furthermore, depending upon a combination of these forces, approaches could be determined whether to enter an industry new to the association or to appropriate forces contributing to low business attractiveness (Fyall & Garrod, 2005). It seems porter 's five forces model depends intensely on building up the attractiveness of an industry.