Issues of International Marketing Assignment Example | Topics and Well Written Essays - 2000 words

Issues of International Marketing - Assignment Example As of January 2014, IKEA owns 349 retailing outlets across 43 countries. The gross revenue was â‚ ¬28.506 billion in 2013 and its operating profit share was worth â‚ ¬4.011 billion (IKEA Group, 2013). IKEA is a privately owned business organization and its founder was Ingvar Kamprad. The current CEO and chairman of the company are Peter Agnefjà ¤ll. The company manufactures more than 12000 variations of products and conducts business in all major economies of Europe, North America, Asia and Oceania (Chu, Girdhar & Sood, 2013). Due to extensive business internationalization, the scope and scale of IKEA’s business are wide. The company utilizes 1% of the global supply of wood. IKEA has expanded its internationalization process by following different types of market entry approaches (Dickson & Giglierano, 2000). In China, IKEA expanded business through joint venture entry approach. A joint venture is a special business agreement whereby two or more business entities merge as a completely new organization or to generate new assets to the equity holding of both the companies (Campbell & Netzer, 2009). IKEA entered the Chinese market through a joint venture agreement. The company opened its retailing outlets in prominent locations in China under this venture agreement. IKEA had entered the Chinese market in 1998 (Harapiak, 2013). The company had selected the joint venture method for lowering the political risks associated and gaining core competencies within the dynamic furniture industry. Moreover, according to the Chinese regulations during IKEA’s entry, a foreign organization could enter only through a venture business with any native Chinese company. By forming a joint venture with a local furniture company of China, IKEA made strategic alliances with the Chinese suppliers and appropriately evaluated the market features therein (IKEA Group, 2013).

Learning Reflection Essay Example | Topics and Well Written Essays - 250 words

Learning Reflection - Essay Example Therefore, the customers of this product will experience a sense of class, without spending a lot of money on the gadget. The closest brand competitor of this phone is mainly other smartphones produced by Apple Inc. However, I chose Samsung, compared to Apple because Samsung products are affordable. As a student, I have no income that would enable me purchase a smartphone from Apple, since this company produces for the top income earners in society. The price of Samsung S III has also been lowered, compared to its pricing last year. In addition, I chose to buy a Samsung phone because of the features of the phone. For instance, this phone operates on an Android operating system, compared to Apple phones, which operate on a different operating system (iOS), which is somehow difficult to use for those who are not used to Apple products. My decision to buy this Samsung phone was highly influenced by the marketing of the product. Samsung is good at marketing, compared to its competitors. The company employs diverse marketing strategies, which enable its customers to learn about new products. Samsung S III has been marketed for a long time, since last year. This is through advertising, sales promotions, internet marketing, among others. Therefore, I became more familiar with the Samsung S III, compared to other brands, and this is what finally drove me to buy the

SWOT Analysis OF NIKE

SWOT Analysis OF NIKE Partial fulfillment by the award of the post graduate diploma in business Management. From Fortune School of Technology and Management in Singapore. Nike Inc. was founded in  1962 by Bill Bower man and Philip H.  Knight as a  partnership under the  name, Blue  Ribbon Sports.  Since Germany conquered  the domestic market in America, Nike came with low-cost and high quality products for the American people. Today, Nike manufactures and distributes athletic shoes in the global market and 40% of  its sales come from athletic apparel, sports equipment,and subsidiary ventures and they have  traditional  as  well  as  nontraditional  distribution  channels  in  more  than  100countries globally. Nike has attained a premier position in the market but in 1998, the company has to face the issue of exploiting overseas workers and the altering consumer  needs negatively pretentious the sales of Nike. In this report, I have discussed the case history of Nike that majorly covers the child labor  problem and the problem of change in consumers preferences after which I have done the SWOT analysis and hav e come up with strategic objectives, market driven strategy Objectives. Furthermore, the marketing strategy is discussed that covers the segmentation strategy, targeting, positioning and channel distribution of Nike and the product, price and promotional strategy it must approve.  In the  end, I  have given some  recommendations to Nikes management to force it towards success. Contents INTRODUCTION: The company Nike has establish its brand with lot of efforts today almost all knows about Nike it is a world famous brand with a good reputation. Knight called his first shoe Tiger and began allocation at path meet. Blue Ribbon in 1971 earned its Swoosh and knight introduces the most important Nike brand line. In 1978 the Blue Ribbon becomes Nike and both years their earnings grow steadily. Due to Nike attention in informal shoes in the 1980, they missed the leaning to aerobic shoe and cut down after allowing Reebok to manage the marketplace. MISSION AND VISION: Nike states in its mission declaration that it entail responsibility commerce in a guilty way, most important to sustainable monetary increase. With the advance in knowledge, Human resource practices, the healthy knowledgeable and skilled employment power, here is extremely small deficient to distinguish organization. Living being seen to go added than the lowest amount necessary on community issue can draw and keep patrons. This bottle sea green modification attracts concentration to the association; they are view as thoughtful and public liable (Mullins, L. 2005). A speech, on the construction put into practice of Nike during its make obtainable sequence accuse the association of individual concerned in limited operational circumstances, defiance of hard work civil rights, low salary and pestering of its labor force. Nike takes this information seriously. On the basis of the learning answer the business has make stronger the check of its dealer (Hummels, H and Timmer, D.2004) OBJECTIVE OF THE STUDY: Provide an environment which develops people to maximize their contribution to NIKE. Identify focused consumer segment opportunities. Provide quality and innovative services and products internally and externally Establish and nurture relevant emotional ties with consumer segments. Maximize profits. SWOT ANALYSIS: Strengths Nike is a very competitive organization. Phil Knight (Founder and CEO) is frequently quoted as saying that Business is war without bullets. Nike has a healthy aversion of is competitors. At the Atlanta Olympics, Reebok went to the outlay of sponsoring the games. Nike did not. However Nike sponsored the top athletes and gained valuable reporting. Nike has no factories. It does not tie up cash in buildings and manufacturing workers. This makes a very lean organization. Nike is tough at research and development, as is evidenced by its evolving and innovative product range. They then manufacture wherever they can produce high quality product at the lowest possible price. If prices rise, and products can be made more cheaply elsewhere (to the same or better specification), Nike will move production. (ynkamat, 2009) Nike is a global brand. It is the number one sports brand in the World. Its famous Swoosh is instantly familiar, and Phil Knight even has it tattooed on his ankle Nike is quite strong regarding its research and development; quite marked regarding its evolving and innovative product choice. They manufacture high quality at the lowest potential price, if prices rise due to price hike then the production process is made cheaper by changing the place of production. It belongs to the  Fortune 500 companies. Nike employs about more than 30.000 people worldwide. It has a strong sense of marketing promotion by sponsoring top athletes. It uses linarite foam and flies wire materials in order to make the manufactured shoes lighter and more convenient. (Adam, 2009) Its standing for high quality and innovative footwear .Nike is also known for its innovative marketing .Nike ads are part of the pop culture an impressive achievement. Famous campaigns feature bo Jackson, Michael Jordon, and Tiger Woods the Nikes swoosh is highly recognizable world wide .Nikes recent comeback has been greatly helped by increased sales of Nikes apparel. (Robert N. Lussier, 2009) Political Analysis According to PEST analysis the political enviourment can be taken as strength The government must create economic policies that will foster the growth of businesses. Nike, fortunately, has been helped by the US policies which enable it to advance its products. The support accorded to Nike by the US government, particularly in the general macroeconomic stability, low interest rates, stable currency conditions and the international competitiveness of the tax system, form the foundation critical to Nikes growth. (Cuizon, 2009) Society Analysis According to PEST analysis the social enviourment can be taken as strength People are more health conscious currently. Diet and health are getting more prominence. Consequently, more and more people are joining fitness clubs. There is an accompanying demand for fitness products particularly exercise apparel, shoes and equipment. Nike is at the front position of this surge in demand as people are looking for sports shoes, apparel and equipment. (Cuizon, 2009) Technology Analysis Political Analysis According to PEST analysis the technological enviourment can be taken as strength Nike uses IT in its marketing information systems very effectively. Nike applies marketing information systems to the economics of improvement, segmentation and differentiation for nearly all of its businesses. Nikes leadership status owes in large part to the use of extremely valuable Information Technology, and applying it to every aspect of the product from development to distribution. Nike, being the world leader in the athletic footwear industry, is able to effectively harness its environment to boost its marketing efforts. This strategy has translated into robust sales of Nikes products. (Cuizon, 2009) Weaknesses The organization does have a diversified range of sports products. However, the income of the business is still heavily dependent upon its share of the footwear market. This may leave it vulnerable if for any reason its market share erodes. The retail sector is very price sensitive. Nike does have its own retailer in Nike Town. However, most of its income is derived from selling into retailers. Retailers tend to offer a very similar experience to the consumer. Can you tell one sports retailer from another? So margins tend to get squeezed as retailers try to pass some of the low price competition pressure onto Nike. Nike was for quite some time unwilling to disclose any type of information concerning its partnering companies. It was charged with the violation of overtime and  minimum wage  rates in Vietnam, 1996, that was seen as having poor working conditions, and that it was also charged for exploiting cheap workforce overseas. (ynkamat, 2009) Nike was also reported to have applied child labor in Pakistan and Cambodia to produce  soccer balls. It was positioned as a subject of criticism by anti-globalization groups due to its unruly and exploited manner that was quite a disaster for its reputation. (Adam, 2009) In late 2005 founder phil knight resigned from the CEO position at Nike. Since that time Nike has had two CEO s. Nike brand co president mark parker is the companies new president and chief executive officer following the resignation of William D. Perez will Nike ever be able to replace the larger than life founder Phil knight? Another question on the area concerning is that global sales, such as Europe and Asia ,have instead at a much faster pace than domestic sales in the United States. (Robert N. Lussier, 2009) Economic Analysis According to PEST analysis the economic enviourment can be taken as weakness In economy, the biggest threat for Nike would be economic recession. During recession, Nikes growth will be adversely affected. The US economy is experiencing a downturn right now. Consumer purchases are slowing down. Currently, Nikes feeling the pinch of the economic recession. The Asian economic crisis also affects Nike since its goods are manufactured in Asia. The labor costs and material prices are going up. Nikes growth is not just affected by the local economy but also in the international economy. A weak Euro and an Asian recession could mean weak sales for Nike. The overall results in the sales generated by Nike in athletic footwear, however, remained stable. The global market makes up for the variances in sales particularly between peak and lean seasons. (Cuizon, 2009) Society Analysis According to PEST analysis the social enviourment can be taken as weakness Nike, however, failed to foresee problems brought about by a sweatshop expose pertaining to labor and factory conditions at production locations in Asia. This caused bad publicity and declining sales as society and consumers Opportunities Product development offers Nike many opportunities. The brand is fiercely defended by its owners whom truly believe that Nike is not a fashion brand. However, like it or not, consumers that wear Nike product do not always buy it to participate in sport. Some would argue that in youth culture especially, Nike is a fashion brand. This creates its own opportunities, since product could become unfashionable before it wears out i.e. consumers need to replace shoes. There is also the opportunity to develop products such as sport wear, sunglasses and jewellery. Such high value items do tend to have associated with them, high profits. The business could also be developed internationally, building upon its strong global brand recognition. There are many markets that have the disposable income to spend on high value sports goods. For example, emerging markets such as China and India have a new richer generation of consumers. There are also global marketing events that can be utilized to support the brand such as the World Cup (soccer) and The Olympics. (ynkamat, 2009) The brand is sternly defended by its owners who believe that Nike is not a fashion brand, however, a large number of consumers wear Nike product because they derive a fashion  trend  rather than to participate in a sport. It is mostly argued that in youth culture, Nike is a fashion brand which also creates  opportunities  for Nike since its products would become outdated before even the product wears out i.e. consumers will feel the need to replace the product with a newer  trend. There are many international regions that still need tapping and there is need for sportswear and with Nikes strong global brand recognition, it can initiate in many markets that have the disposable income to spend on high value sports goods. Nike gives a lot of effort on its corporate marketing mainly through the  promotion of  corporate brand  and sponsorship agreements. (Adam, 2009) Nike has an opportunity to capitalize on its own Nike Technology. This is a sensor placed in Nike footwear that interacts with Apples iPod to record the distance a runner has completed and the calories that have been burned. Another opportunity will be to capitalize on an endorsement deal with LeBorn James after his NBA playoffs and championship series appearances. Additionally, Tiger woods yearly attempt to win all four major Golf Tourments automatically allows Nike to build product campaigns around the Tournaments. (Robert N. Lussier, 2009) Threats Nike is exposed to the international nature of trade. It buys and sells in different currencies and so costs and margins are not stable over long periods of time. Such an exposure could mean that Nike may be manufacturing and/or selling at a loss. This is an issue that faces all global brands. The market for sports shoes and garments is very competitive. The model developed by Phil Knight in his Stamford Business School days (high value branded product manufactured at a low cost) is now commonly used and to an extent is no longer a basis for sustainable competitive advantage. Competitors are developing alternative brands to take away Nikes market share. As discussed above in weaknesses, the retail sector is becoming price competitive. This ultimately means that consumers are shopping around for a better deal. So if one store charges a price for a pair of sports shoes, the consumer could go to the store along the street to compare prices for the exactly the same item, and buy the cheaper of the two. Such consumer price sensitivity is a potential external threat to Nike. (ynkamat, 2009) Consumers are constantly shopping around for a better deal that conveys a good quality and if one store charges a higher price for the products, the consumer would try to seek a better deal of the same product in the premises that delivers the same value but cheaper of the two, this type of price sensitivity among the consumers is a potential threat to Nike. The textile industry unpleasantly upsets the atmosphere, and therefore the organization is constantly struggling to retain its eco-friendly reputation. A recession may lead to job shortages in most of Nikes worldwide branches. The organization has experienced many adverse publicity feedbacks due to its widespread advertising If you have a body, you are an athlete   Bill Bower man said this couple of decades ago. The guy was right. It defines how he viewed the world, and it defines how Nike pursues its destiny. Ours is a language of sports, a universally understood lexicon of passion and competition. A lot has happened at Nike in the 30 years (Adam, 2009) Specific threat is the contracts that Reebok (now part of Adidas) signed with the NBA and NFL for its apparel businesses. Another threat is the ongoing public relationship s problem pertaining to working environments in the factories producing Nike sneakers. Nike has striven to overcome images of sweatshop conditions, but the problem has been difficult to solve. (Robert N. Lussier, 2009) Porters five forces Source:(http://www.google.co.in/images?hl=enq=porters+5+diagramum=1ie=UTF8source=univei=8UhZTfaOCoXJrQfarcnuBwsa=Xoi=image_result_groupct=titleresnum=1ved=0CCIQsAQwAAbiw=1366bih=643) Potential Entrants Low Bargaining power of buyers High Bargaining power of suppliers Low Threats of substitutes Low Industries rivalry High Refer to appendix 1 CONCLUSION: SWOT analysis should always be measured by all companies as it helps show companies all their weaknesses and threats. At the same time it also shows what the companies strengths and opportunities. Using this analysis companies can spotlight on their good part of the business and focus more on the bad part to make it good. Also a company can see what factors are external or internal which helps the business in a long run to be more capable REFERENCES Adam, 2009. Nike SWOT Analysis. [Online] Available at: HYPERLINK http://www.mba-tutorials.com/marketing/240-nike-swot-analysis.html http://www.mba-tutorials.com/marketing/240-nike-swot-analysis.html [Accessed February 2011]. angeletti3, 2005. Nike versus Adidas Case Study and Competitive Analysis. [Online] Available at: HYPERLINK http://www.echeat.com/essay.php?t=27606 http://www.echeat.com/essay.php?t=27606 [Accessed February 2011]. Cuizon, G., 2009. Marketing Audit of Nikes Strategies. [Online] Available at: HYPERLINK http://www.suite101.com/content/marketing-audit-of-nikes-strategies-a94402 http://www.suite101.com/content/marketing-audit-of-nikes-strategies-a94402 [Accessed February 2011]. E, P.M., 1998. In Competitive Strategy: Techniques for Analyzing Industries and Competitors. Free Press. Gerry Johnson, K.S.W., 2008. In P. Education, ed. Exploring Corporate Strategy. 7th ed. Phil Knight, 2011. Company History. [Online] Available at: HYPERLINK http://www.nike.com/nikeihm/about/history.shtml http://www.nike.com/nikeihm/about/history.shtml . Robert N. Lussier, D.K., 2009. Applied Sport Management Skills. Human Kinetics. ynkamat, 2009. SWOT of Nike. [Online] Available at: HYPERLINK http://www.scribd.com/doc/13163456/swot-of-nike http://www.scribd.com/doc/13163456/swot-of-nike [Accessed February 2011].

Australian Broadcasting Essay -- Media

INTRODUCTION The Australian Broadcasting Commission (ABC) was formed in 1932 and the first ABC radio broadcast took place on 1 July that the same year. 1956 saw the beginning of television broadcasting in 1956 and its independent corporation was in 1983. The Special Broadcasting Service (SBS) however commenced broadcasting much later 1975 and its television broadcasting began in 1980 and became an independent corporation in 1991. The ABC and SBS are all statutory , independent authorities established via legislation and their roles and functions are set out in their respective Charters. For instance the ABC Charter vests the ABC, with functions such as providing within Australia innovative and comprehensive broadcasting, services of a high standard, provide programs that contribute to a sense of national identity and to inform and entertain, and reflect the cultural diversity of, the Australian community. Moreover it is mandated to provide broadcasting programs of an educational nature promote the musical, dramatic and other performing arts in Australia transmit to other countries programs of news, current affairs, entertainment and cultural enrichment that encourage awareness of Australia and an international understanding of Australian attitudes on world affairs . The SBS Charter provides that the principal function of SBS is to provide multilingual and multicultural radio and television services that inform, educate and entertain all Australians, and in doing so, reflect Australia’s multicultural society . SBS also has specific functions, including, contributing to meeting the communication needs of Australia’s ethnic and Aboriginal The ABS and SBS provide the Australian public with news broadcasts, television programmi... ...leem, Saed, and Stephen Shellhammer. TV White Space Sectrum Technologies. Florida: CRC Press, 2011. Campbell, Dennis. International Securities Law and regulations. Sydney: York Hill Law, 2007. Conroy, Stephen. ABS and SBS. Australian Government, Sydney: Department of Broadband, Communications and the Digital Economy, 2008. Digital Broadcasting Australia. "SBS chooses 720p High Definition." Digital Broadcasting Australia. Sydney, December 14th, 2006. Grant, Alsadai. Australian Telecommunications Regulation Communications Law Centre. Sydney: UNSW Press, 2004. Murray, Lisa. "SBS caves in over ad breaks." The Sydney Morning Herald, June 2, 2006. Pan, Hui. Asia-Pacific Telecom Monthly Newsletter. Boston: Information Gatekeeper Inc, 2010. Stuart, Cunningham, and Graeme Turner. The Media and Communications in Australia. Singapore: KHL Printing Company Ltd, 2010.

Moral Values Essay

The fabric of any society is held together by the standards of morality that we maintain and practice. Values are our personal set of beliefs about what is important, unimportant, right, wrong, good and bad. When we are confronted by choices, options, or moral dilemmas, the decisions we make will indicate what values we hold. Human values give worthiness and respect to life. The foundation of human values are based on  · Dignity of human life  · Respect and consideration for the â€Å"other†  · The importance of integrity and service  · An attitude of non-violence  · The individual and collective quest for peace and happiness. In other words, values are a kind of a map in our minds of how things are or should be. Values are only our perception of the principles of nature that govern our lives or the universe, and not these principles themselves. People think that there should be a specific set of principles protecting and governing all human beings. However, others b elieve that values can be accepted in one culture and rejected in another culture. This idea is based on the belief that moral principles differ across cultures. Our moral values are our beliefs about what is important in life. Some values refer to how one should act (be honest, altruistic, self-disciplined) while other values refer to what one wants to accomplish or obtain in life (a lot of money, fame, a family, friendships, world peace). Because a person cannot â€Å"have it all† or â€Å"be all things,† priorities must be set and choices made. Setting your priorities often leads to value conflicts. We may want to be successful in your career, but we may also want a more relaxing lifestyle and more time to spend with friends and family. Here, the value of success may come into conflict with the value of family. Some examples of moral values are: integrity, respect, caring, justice, civic virtue, and openness. Anyway I am worried about the fact that our society is in moral decline. Morality is a very broad and complicated topic due to the fact that it is based primarily on individual opinions. Moral values constantly change with the generations. However, most people would agree that today’s moral values are more tolerant of behaviour that, a generation ago, would have been considered obscene and immoral. For example, sex on television is accepted by today’s public as normal, but until the 1980s one could hardly say the  word â€Å"sex† on television without being condemned. Yes, our society is currently in a rapid decline of moral values. Judging by current statistics, all that once was immoral is now considered moral. It seems as though people have lost their conscience and are now controlled by their surroundings. The majority of youth all over the world know very little about Moral Values. Very often the behaviour of children in society proves that moral values are hardly even a subject of importance. Today, the violence and crimes often occur when a troubled teen or a fragile child cannot handle the pressure and stress of reality. The influential factor of violence spreads so easily; a child finds this influence simply by turning the television set on. In fact, any news channel unfortunately shows the actions of teenagers committing the violent act of murder without any remorse. All of this animosity and chaos within children begin with not knowing the difference between the right and the wrong. But something should be done. The positive influence of religion, education, and peers greatly effect a child’s manner and behaviour. Traditional values and important lessons from these sources certainly help a child to understand the distinction between right and wrong choices in life. An important value for children to be aware of is the benefit of religion. The church teaches children to accept the existence of a being higher than man and gives a child the possibility to learn the moral values the way the Bible presents them. By understanding the responsibility of choice making, young people learn to think about the consequences or aftermath of their decision. Religion serves as a foundation for knowing the difference between the right and the wrong. The involvement of religion better prepares children for certain difficulties in life. The value of education is an important tool that induces the growth of young people to a more sophisticated level. Education builds knowledge and integrity into the minds of children. School also guides children away from trouble; with essays and math problems, a child has no time for trouble. Parents must emphasize the importance of education to their children. Education strengthens the capabilities of the youth. A child becomes a better individual when he experiences the goodness of church, education, and  friendship; that is the relevancy of values and lessons. In order for the nation to minimize crime, the children of this generation must reevaluate their choices and responsibilities in life. They also need the assistance of parents and teachers for guidance through the tough reality of today’s decision making. The aim should be to produce morally viable, responsible individuals and not scholars. Sadly today the virtues like honesty, integrity and respect are considered old fashioned. There has been gradual erosion in these values. The growing crime rate among the children in the developed nations is a good instance of lack of moral values. Whenever and wherever preference is given to materialism over moral values, it leads to total chaos. No one can be at peace, be it an individual, a community, a nation, or the whole world. Moral education is not something that can be imposed on someone from outside; rather it is a way of life. Fast changing society has its special problem – old social structures go away and replaced by new ones. Hence the old moral values get into the clash with the new ones, and this is not a clash of different social groups, this is a clash inside one person. Market based society, which by its nature breaks boundaries between individuals, creating more opportunities, creates moral problems. As a result – there are two sets of contradicting moral values in the person’s mind and there is no balance. These are the examples – changing relationship between sexes, between employer and employee leading to the internal conflict of moral values. It is matter of great concern and regret that today upbringing means providing good food, clothes and luxuries of life only. Moral values are no longer an integral part of a child’s rearing up. Some years back, grand parents provided moral education to grand children in the form of bedtime stories. But with the advent of nuclear families, moral education has become the responsibility of the educational institutions. But it should be the responsibility of the parents to bring out the best and divine in their child. There is no more powerful creature for a child than parents. The system of learning and adaptation to the life and society in particular is based on hungry absorption by kids of behavioural patterns and ideas from parents. Parents share subconsciously and freely with their kids all they know up to the point, when kids get problems. Actually it is very hard to limit voluntarily parental control, even harder to find the right balance. At least subconsciously, adults perceive their kids as a continuation of themselves. This perception produces protective and controlling behaviour, which kids need to survive and learn. However there is an important kid’s need which adults do not perceive – the need to learn how to make decisions and the need to make them. I mean real decisions, which carry serious consequences, decisions which adults make all the time, which no adult can avoid, and which adults do not want to avoid, because they are the essence of the life. Drugs and crime endanger the survival potential of youth and parents as well as educators. They endanger children’s future and threaten the very fabric of society. Drugs inevitably lead to ruined lives. Harmful actions and criminal behaviour bring unhappiness, and not just for the victim but the perpetrator as well. In today’s world, teaching youth the difference between right and wrong is not just a good idea, it is a vital action that directly relates to the survival potential and happiness of children and society. As an educator and one who truly cares about the well-being and future of our children parents really have an opportunity to help young people steer away and stay away from lives of drugs and crime. A little reflection will show that most of great men were great because they were more humane than the rest of us. With total chaos and dwindling moral values, and a mad rush for material comforts, it has become clear that it is only moral education that can bring solace to the otherwise tormented soul.

Concept of Classical and Modern Management Essay

While classical and scientific management theories come from generally the same school of business thought, there are some distinct differences within the subgroups. First, there’s classical scientific management theory which concentrates on the efficiency of the individual worker. Secondly, you have classical administrative that focuses on the organization rather than the individual worker within. Each have their merits but are also over 100 years old and can have deficiencies in today’s technologically advanced workplace. However, that doesn’t mean that the theories are outdated by any means. You just need to use them as supplements and not a primary or sole management strategy. To understand and implement the classical and scientific management theory basics, you need to know the basis and the pros and cons of the theories. Once you have the basics down, it’ll reduce process procedure problems during implementation. Therefore, before you institute any o f the policies there are a few items to consider: 1. Know the origins of classical and scientific management theory. 2. Understand the pros and cons of scientific and classical management theory. 3. Study cases and examples of scientific and classical management theories. Examine the tenants of classical and scientific management theory Any theory, no matter what the application, won’t work if you don’t understand the basis on which it’s built. One of the basic differences between the two are classical focuses on management and scientific on methods to accomplish good business management. Try: Evaluate the essential aspects of Scientific Management theory. Then, examine the comparison of the two types of management in this article on the Classical Schools of Management. Be sure you know the pros and cons of classical theory in business There’s no single management theory that you’ll be able to apply to every situation and have it work. For instance, the classical school of management relies on the experience of management more than other theories. This is fine if your staff is mature. However, you’ll need to adjust the theory application for inexperienced staff members. Try: Study the benefits and limitations on the Scientific Management Theory at 12manage – The Executive Fast Track. Then, examine the weaknesses of Classical Management theory at ArticlesGratuits.com to compare and contrast the two. Use case studies and real world examples to understand scientific and classical school of management A proper knowledge base can’t be obtained without seeing how theories apply to situations that you’ll experience on the job. Case studies and critiques are a great way to accomplish this. Try: Register at the Business Network and evaluate the classical school of management case study. Utilize the classical management real world mistake by Steven C. McConnell. †¢Classical theory of management or any style of management is contingent on the employees to which you apply it. Be sure that the theory you choose will work correctly with your staff before making any changes.