How do companies identify an attractive market segment and choose a marketing strategy? Why do companies choose to segment and target specific groups?

Identification of the Right Marketing Strategy and Segmentation

For any organization to meet its profitability, growth and competitive advantage objectives, ways of satisfying the consumer needs must be identified. Marketing strategies must be set for specific segments and the target groups must also be identified (Sudbury & Simcock 2009). Market segmentation is the grouping of prospective buyers who have common interests and needs and thus are likely to respond in the same way to a different action in the market (Morgan, Katsikeas & Vorhies 2012). The segmentation is important as it enables an organization to target their customers differently in relation to their specific needs (Myers & Lumbers 2008). This essay will discuss in details how companies identify an attractive market segment, how the companies select marketing strategies and target specific groups.

Different companies identify the attractive market segments differently. The market may be broadly divided on the basis of geographical location, economic factors, political factors and cultural factors (Varadarajan 2010). Specifically, the consumers are divided on the basis of their age, gender, income, social class, race, lifestyle, religion or gender. To perform the segmentation, a company may use the pestle analysis method to investigate all the external and the internal factors and the environment that may affect the market segmentation (Morgan, Katsikeas & Vorhies 2012). The company may also evaluate all the possible segments on the basis of its size, the growth rate of the company. The competition that the company may face when dealing with each segment is also determined. The loyalty of the brand to each segment is also determined and the contribution of the segment to the market share is also done (Rouse 2011). The goal of the company is to make each and every segment profitable to the company.

One of the marketing strategies is the selection of a brand name which should reinforce the value of the products or the services (Myers & Lumbers 2008), that the company offers whether it is a descriptive, inventive or the founder’s name. The name must be in line with the company’s objectives, values, mission, and vision. Other marketing strategies for a company are the target customers, the competitors and the uniqueness of the company that makes them different from the competitors (Hanssens et al. 2009). The company must ensure that they have the discipline to stick to the target customers even when other seemingly potential customers show up. The category of the business must also be well defined to shed light on what exactly the business entails. Complicating the company’s description may leave the customers and the general public confused and unsure of exactly what is offered by the business (Varadarajan 2010). These reduce the company’s effectiveness in the market.

The company must also define a unique feature and a benefit to its customers that differentiates it from other businesses. The organization must also be aware of the major competitors, evaluate their weaknesses and look for solutions to benefit the customers. If the competitors are not identified, the marketing efforts are weakened and the objectives of an organization may not be met (Hanssens et al. 2009). Another marketing strategy would be to promptly act on an opportunity in the market after some marketing research instead of doing a go slow to test the success of a new product or a service (Sudbury & Simcock 2009). The right method of advertising depending on the customers like the television or the use of magazines is also a factor to be considered. Listening to customer’s complaints and ideas may open up an avenue of improving the existing products and services and also diversify the market (Peattie & Peattie 2009). Conclusively, identification of attractive market strategies and target groups should be done with a lot of expertise as it greatly contributes to the success or the failures of an organization.

References

Hanssens, D. M., Rust, R. T., & Srivastava, R. K. (2009). Marketing strategy and Wall Street: nailing down marketing’s impact. Journal of Marketing, 73(6), 115-118.

Morgan, N. A., Katsikeas, C. S., & Vorhies, D. W. (2012). Export marketing strategy implementation, export marketing capabilities, and export venture performance. Journal of the Academy of Marketing Science, 40(2), 271-289.

Myers, H., & Lumbers, M. (2008). Understanding older shoppers: a phenomenological investigation. Journal of Consumer Marketing, 25(5), 294-301.

Peattie, K., & Peattie, S. (2009). Social marketing: A pathway to consumption reduction? Journal of Business Research, 62(2), 260-268.

Rouse, W. B. (2011). Necessary competencies for transforming an enterprise. Journal of Enterprise Transformation, 1(1), 71-92.

Sudbury, L., & Simcock, P. (2009). A multivariate segmentation model of senior consumers. Journal of Consumer Marketing, 26(4), 251-262.

Varadarajan, R. (2010). Strategic marketing and marketing strategy: domain, definition, fundamental issues and foundational premises. Journal of the Academy of Marketing Science, 38(2), 119-140.

Why is strategic marketing important and what are the forces that help shape it?

Importance of strategic marketing

Strategic marketing is a key process in the successful business organization. It serves as a key roadmap for the business as a whole. The process enables promotion of the business, the attraction of the right kind of clients, and correct resource allocation as the firm’s reputation is safeguarded (Kohli & Jaworski, 1990). Use of effective strategies in marketing, firms will be able to develop a business-wide, focused approach to marketing operations. Primarily, the most important factor in strategic marketing is connected to the identification of opportunities of growth by carrying out an analysis such as SWOT analysis (Day, Shocker & Srivastava, 1979). Once a firm identifies the weaknesses, strengths, threats, and opportunities of the strategic marketing scheme, the managers are able to seize the opportunities available (Porter, 1989). Also, the managers are able to identify the most appropriate course of action to mitigate the available threats.

Through strategic marketing, the management team gets more informed on the trending marketing operations and they acquire new ideas to develop the company’s brand (Sheth & Frazier, 1982). Additionally, they are able to rate the company’s brand and identify the areas where they need to develop confidence and trust in the brand (Kohli, & Jaworski, 1990). Throughout the process of strategic marketing, the company’s brand is a crucial asset of the organization is protected and enhanced. Ultimately, there is a need to implement the effective marketing strategies in order to have effective marketing operations.

Forces that help shape marketing

According to the study conducted by Porter (1989), competitive forces play an important role in shaping marketing strategy. The author asserts that the effect is seen as the importance of designing marketing strategy in the first place is to cope with competition. The competitors in a market include suppliers, customers, substitute products, and potential entrants. All the competitors may be more or less active depending on the company. The competitors take part in the competitive force that helps in shaping marketing as business owners need to consider all of them in making marketing decisions (Kohli & Jaworski, 1990). If the competition forces are weak, the opportunity for strong strategic marketing is strong as the pressures are minimal on the marketers. Other forces that shape marketing including the external forces associated with the satisfaction of customers’ needs and wants (Day, Shocker & Srivastava, 1979). The consumers pressure companies to produce the products desired as the managers wish to win their trust as well as building brand name.

Knowledge of the underlying sources that shape marketing such as the bargaining power of customers and suppliers, threats of substitutes, and the challenge of new entrants provide a baseline for the action of strategic agenda (Porter, 1989). On the other hand, the forces highlight the weaknesses and strengths of a company as well as animating the position of a firm in its industry. Additionally, the forces help in identification of the areas where strategic changes may result in the greatest payoff (Parasuraman, Zeithaml, & Berry, 1985). Further, the forces enable the management team to recognize the areas that the industry promises to yield the greatest significance as a threat or an opportunity.  Consequently, the strongest forces of competition are major determinants of the profitability of a company and hence they are of great importance in the formulation of marketing strategy.

 

References

Day, G. S., Shocker, A. D., & Srivastava, R. K. (1979). Customer-oriented approaches to identifying product-markets. The journal of marketing, 8-19.

Kohli, A. K., & Jaworski, B. J. (1990). Market orientation: the construct, research propositions, and managerial implications. The Journal of Marketing, 1-18.

Parasuraman, A., Zeithaml, V. A., & Berry, L. L. (1985). A conceptual model of service quality and its implications for future research. the Journal of Marketing, 41-50.

Porter, M. E. (1989). How competitive forces shape strategy. In Readings in strategic management (pp. 133-143). Palgrave, London.

Sheth, J. N., & Frazier, G. L. (1982). A model of strategy mix choice for planned social change. The journal of marketing, 15-26.

Questions 1: “Topic Choice” Define what the Editor of the Academy of Management Journal means by a “grand challenge”. Identify a peer reviewed article of your choice which is an example of a “grand challenge”, explaining why you believe it to be so.

Questions 1:
“Topic Choice”
Define what the Editor of the Academy of Management Journal means by a “grand challenge”.
Identify a peer reviewed article of your choice which is an example of a “grand challenge”,
explaining why you believe it to be so.

Question 2:
“Novelty”
Explain what is meant by “knowledge recombination” and give an example of a novel peer
reviewed article that demonstrates this concept. Explain.

Question 3:
“Changing Practice”
According to the editor of AJM good research should be actionable – it should have impact.
Identify a peer reviewed article that has resulted in a change of practice for either industry or
government. Explain why this research was able to do this.

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QUESTION ONE: TOPIC CHOICE

Grand challenge is defined as difficult but important problems which are formulated to encourage innovation that would solve the problems. The objectives of a study with a grand challenge framework harness technology, science, and innovation to provide solutions to problems that apprehend public imagination. In the selection of a topic of study, consideration should be made on whether it contributes or confront grand challenge (Colquitt & George 2011, p.432). The basic principles of a striking challenge are the development of opinions and initiatives to tackle the identified problems. The author of Academy of Management Journals (AMJ) explains that the topics selected reflecting grand challenge contain major goals as the eradication of problems such as eliminating poverty, disease, and hunger.

Grand challenges are continually identified in many fields including medicine, engineering, and natural sciences. AMJ encourages the selection of a research topic that provides insights for into the incrimination of grand challenges for incorporation in organizations including the concepts, processes, contingencies and new causal logic of performing and managing grand challenges in the society. A topic choice is needful to acknowledge problems and provide alternatives to the solutions (Colquitt & George 2011, p.432). An effective topic chosen carefully should not introduce a new criterion. Rather, the topic should build or conduct continuity to other people’s work. Importantly, even though a particular topic builds on prior work, the severity of grand challenge varies across different studies. Hence, there is uniqueness in every topic that is selected.

Framing a topic with the grand challenge is important in clear explanation of the solutions to be provided (Colquitt & George 2011, p.432). Furthermore, it enables the author to be accurate in conducting the study. Use of grand challenges can cause a change in approaches to handling challenges in the society. However, the insights provided should connect with existing literature. The author of AMJ explains that the authors developing topics with a grand challenge framework should pay attention to the anticipated outcomes such as social good, social-emotional and physical well-being, equity, productivity, employment, and wealth creation.

INFORMAL AND COOPERATIVE RECYCLING AS A POVERTY ERADICATION STRATEGY.” BY GUTBERLET

Gutberlet’s study portrays a good example of a grand challenge. The study entails development of poverty eradication strategy by the adoption of informal and cooperative recycling. The group of people addressed by the study is the poor people living in urban areas in Brazil whose main source of income is achieved by recycling of items by collecting garbage selectively. The survival strategy of the people is by recycling of solid wastes (Gutberlet 2012, p.21) They collect the recyclable materials from household waste that is disposed of in the streets, from businesses, offices, or from landfills and irregular dumps. The informal recyclers store the materials at home which poses a health hazard to them. After the selective collection of the garbage, they separate and commercialize the recyclable materials. The recyclable materials collected include beverage containers, plastics, scrap metals, paper, and cardboard.

The recent development of energy development in Brazil has been viewed as a threat to the informal recyclers’ livelihoods. Incineration fails to generate income, yields environmental contamination, and creates competition to other methods of waste management. The research supports the idea that organized recycling of materials brings about economic, social, and environmental benefits (Gutberlet 2012, p. 23) It also has the long-term effect of poverty eradication. However, most of the people are economically and socially excluded accompanied by subject to poverty-related health problems.

The problems experienced by the informal recyclers

The work is prone to challenges, which are risks to the people. The informal recyclers are more likely to acquire occupational health problems which are related to the collection of the materials. There exist both chemical and biological risks brought about by problems related to posture, contact with contaminated materials, injuries, and problems with emotional well-being. Firstly, the informal recyclers are subjected to health risks as infections might be acquired in the course of the work (Gutberlet 2012, p.24) Secondly, the people are frequently involved in accidents and exploitation. Besides, they have low living standards as they are poorly paid by the buyers of the materials. Additionally, the recyclers are considered informal and sometimes are subject to maltreatment in the society.

The risks that the recyclers are exposed to are attributed to the inadequacy of public waste management concepts in Brazil. The team use approaches that lack information on public environmental education and awareness. The approaches also lack opportunities for effective communication between the informal recyclers, the general public and the government (Gutberlet 2012, p.24). The list of problems experienced by these people propels the need to provide insights into the possible solutions available. There is a great need to improve the working and health conditions of the people. The propelling need causes innovation in the research sector to in an attempt to curb the problems (Gotel et al. 2012, p.245).

proposed solutions to the grand challenge

The author proposes several alternatives which contribute to solving the list of problems. To begin with, Gutberlet reasons that organizations of the recyclers in cooperative, social enterprises, and associations would provide opportunities for human development and social inclusions. The development would be achieved by promotion of meaningful work, the increment of the people’s self-esteem, and improving their working and living conditions.

Projects on environmental health and education should be initialized so that the informal recyclers and the general population may develop insights regarding the topic. The knowledge would cause positive impacts as the recyclers would be able to conduct their activities with the minimal risks. Also, the general public would be able to promote activities that preserve the environment and to develop a positive perception of the informal recyclers (Gutberlet 2012, p.28) Rewarding the informal recyclers for their services and considering the environmental benefits acquired from their work curbs the Millennium Development Goal of poverty eradication. Therefore, adoption of participatory waste management should be considered because it has significance in conservation and maintenance of the environment.

Consequently, Gutberlet’s research is a good example of grand challenge where problems are identified in the society. He points out the problems faced by informal recyclers in the community. The list of problems propels the need for innovation which in turn results in curbing the problems.

QUESTION TWO: NOVELTY

Knowledge recombination is defined as the unification of knowledge between two disciplines or literature. The recombination exhibits novelty in selecting a topic. Novelty emphasizes the quality of originality or being new in the development of a topic. Novelty of a study topic can be measured by evaluating if conducting the study would cause any impact on the literature available, or it would be repeating prior work (Colquitt & George 2011, p.433).

Often, when knowledge recombination is used to develop novel topics, results are obtained from new insights which might not be articulated for earlier. Organizations use knowledge recombination to generate new ideas. By exploring new technology and engaging innovation, the firms create new solutions. The new ideas are merged with existing ones in the organizations for better results (Colquitt & George 2011, p.434). Effective novelty can be achieved in studies by the adoption of completely new topics and solutions by overcoming: preference of the familiar solutions over the unfamiliar, opting for the mature solutions rather than the newly invented, and going for existing approaches rather than new ones.

Firstly, choosing a familiar topic will result in conducting a study that has been carried out before. The insights provided by the research are most likely to be already in existence. Hence, the study won’t end up in capturing people’s attention. Secondly, Selection of a topic that is very complex might be interpreted as the introduction of a concept which is inessential. The topic chosen should be easily understood such that the variety of the audience might understand its essence (Colquitt & George 2011, p.434). Additionally, an effective topic should exhibit a phenomenon that is adjacent to existing approaches rather than completely new phenomenon. Hence ideally, the topic should avoid maturity, familiarity, and nearness traps as much as possible.

“MARINE URBANIZATION: AN ECOLOGICAL FRAMEWORK FOR DESIGNING MULTIFUNCTIONAL ARTIFICIAL STRUCTURES.” BY DAFFORN ET AL.

Dafforn et al. uses knowledge recombination in the study by selecting a topic and contextualizing the research in more than one disciplines. The research combines ecological principals with the design, planning, and operation of artificial structures of marine. The topic covers the discipline of engineering partially by covering structural designs (Dafforn 2015, p. 84). On the other hand, the study also partially involves natural science by focusing on the ecology.

The development of the studies by the authors is propelled by the consideration of the relationship of marine operations and ecology. There exists a tendency of development of artificial structure in marine environments which causes extensive ecological consequences. The fact propels the need to research on the impacts of the combination of ecological principles with design and use of artificial structures. The research will lead to escalating marine urbanization (Dafforn 2015, p.86). The study emphasizes the idea that marine developments could be designed in a way that there is a reduction of negative ecological impacts exhibited while promoting ecosystem services.

The research focuses on construction and maintenance of marine structure in a way that there are no negative impacts caused by the ecology. Defense structures are constructed along the coast to protect the coastlines from getting eroded by the water. If the adverse impacts of the ecological system are not addressed, they become more critical whereby they result to stormier seas which accelerate economic advancement in the coastal regions. Designing multifunctional artificial structures in these regions lead to fragmentation and loss of sedimentary habitats which are later replaced with rocky habitats that become colonized by marine animals and algae (Dafforn 2015, p. 87). The author states that use of engineering knowledge to construct the structures is an incredible achievement. However, there has been a less extensive investigation on the ecological consequences in these regions.

The authors provide a theoretical scheme for developing substitute systems usable for several purposes. Knowledge recombination ensures novelty of the research (Bartunek & Egri 2012 p.244). The study is unique and multisource which communicates the originality of the work. Additionally, organizations are more likely to fund such research with the kind of novelty with knowledge recombination (Gruber et al. 2013, p.840). The reason behind it is because studies with knowledge recombination contain rigor and relevance as the insights provided solve multiple problems.

Consequently, knowledge recombination is frequently used in research. The idea involves a combination of existing knowledge with new knowledge or use of knowledge acquired from different disciplines (Gruber et al. 2013, p.843). Combining knowledge elements from different disciplines is a view of innovation. Novelty is shown to in knowledge recombination in several aspects. First, novelty is seen in the sense that the research is original. Secondly, novelty is exhibited in the fact that there is no extreme maturity of the topic of research. The author uses knowledge recombination in the study on ecological basis for design of manmade structures that are multifunctional. The author engages two disciplines in the research whereby engineering is used hand in hand with science. The research aim and determine areas of convergence between the two disciplines.

Knowledge recombination is important is an innovative way of conducting research. It enables an author to tackle the topic in different dimensions. The aspect of knowledge recombination attracts many people to the adoption of the notion presented in the research. Besides organizations are also interested in research exhibiting knowledge recombination and are even willing to fund the project. The research exhibits knowledge recombination in the aspect of connecting more than one disciplines and converging them to conduct a single study. The knowledge of either discipline is used to produce a comprehensive and relevant study. The two disciplines interrelate well as designing of structures in marine regions has effects on the ecology.

QUESTION THREE: CHANGING PRACTICE

Effective research should afford a ground or have subject to an action. It should present an opportunity for a change of usual practice for the better. The research should provide alternatives for adoption in organizational practice (Colquitt & George 2011, p.434). Changing practice provided by particular research should be original in the sense that it does not already exist in prior research.

The author of AMJ explains several ways in which management research can be actionable. Firstly, the study should provide counterintuitive insights in the sense that the solution alternatives provided stand out from common expectations (Colquitt & George 2011, p.434). Secondly, the study should outline the impacts anticipated after the adoption of the new practices. Thirdly, the research should explain any existing inconsistencies that can accompany the adoption of insights provided.

Consequences of actionability of the research should be explained (Bartunek & Egri 2012 p.245). Additionally, better results of actionable research are acquired when a theory is developed to explain the concept. What’s more, an actionable study should develop a famous phenomenon that encourages more research and practice on the matter (Colquitt & George 2011, p.435). It’s possible for a research to be actionable when its framework has a basis of grand challenge, and it exhibits novelty of the topic. Effective research should contain insights which are applicable in the real world so that it might constitute to solving the challenges existing in an organization.

“CORPORATE SOCIAL RESPONSIBILITY INITIATIVES ADDRESSING SOCIAL EXCLUSION IN BANGLADESH.”  BY WERNER

Adoption of changes is necessary in approaching the challenges that exist in populations that are excluded socially. The changes adopted should address problems that relate to their physical, and mental well-being. The improvement adopted should enhance the ability of such people to meet with their needs. Social change can be achieved through things like reduction poverty through eradication of inequality and economic empowerment among others; so as the people can meet their basic needs (Werner 2009, p.545). Achievement of these goals via the public sector is frequently impossible. In achieving such beneficial initiatives which fully addresses their problems, long term solutions must be sought to provide the necessary resources for change and to integrate the advancement into sustainable activities. The research incorporates the private department partnerships and initiatives to cause positive impacts of the socially exclusive populations. The initiatives and partnerships are called corporate social responsibility (CSR).

Werner’s article exhibits a ground for change of practices resulting in positive outcomes. The research provides insights which cause change upon adoption. The research majors on the development of public sector initiatives and partnerships with an aim to address social exclusivity in Bangladesh. The research is propelled by the need to decrease exclusion of marginalized people in social aspects and to boost social and economic capabilities (Werner 2009, p.545). The private sector is identified as the ideal driver of the exclusionary process.

The project involves Corporate Social Responsibility (CSR) initiatives which conduct most of the activities required to achieve the objectives (Bhattacharya et al. 2009, p.260). The author pictures CSR as capable of causing an impact on social status, boosting people’s potential, and provision of access to goods and services to the socially-excluded people. The project is conducted with an aim to reduce social exclusion among these people and improve social and economic capabilities to reduce the exclusion.

Impacts of the research to the socially-excluded marginalized population

There were the intended outcomes of the project. To begin with, the project aimed at improvement of job capabilities and opportunities for the less fortunate people in the society. Additionally, there was an intention to create provision of healthcare services to the marginalized communities especially the women. The research, through the project conducted by CSR, impacted success on the development and inclusivity of the marginalized people living in Bangladesh.

The target, which was on community development, was successful (Werner 2009, p.545). One of the methods they used to cause change was encouraging the small-scale businesses in the marginalized areas. The project achieved this by providing capital to the residents and giving them business ideas to work on. Many people have benefited from health projects whereby their health status is on the check. There is the achievement of creating jobs opportunities for the disabled. Besides, because the disabled are highly discriminated in marginalized regions of Bangladesh, the program goes beyond the provision of jobs to these people. They further provide housing for the disabled due to the unwillingness of the family members to accommodate them even after undergoing rehabilitation process.

CSR design of benefiting socially-excluded people

The CSR program exhibits several characteristics which are the success determiners. Firstly, The CSR plays an important role in the operations carried out with the aim to aid the socially-excluded (Bhattacharya et al. 2009, p.270). Secondly, CSR’s partnerships with other organizations such as NGO’s and donor enabled corporations enables the success of their projects (Werner 2009, p. 545). Additionally, their main goal in the program for the socially-excluded is to establish a win for win whereby they match skills, resources, and capabilities.

Consequently, an effective research should have an effect of changing practice. To start with, the topic selected should be actionable. The insights provided in the research should serve as solutions to the problems at hand. They should be applicable and of value added to the organization or the government. The initiatives to be adopted should be of benefit to the society by solving the problems faced by the general population. Werner’s research causes impacts in providing solutions to the socially excluded people.

The research incorporates CSR which carries out initiatives to help the marginalized people who are socially-excluded to acquire development both socially and economically. The study can cause impact by the adoption of applicable solutions which are carried out with the aim of accomplishing the goals of the research. The applicable solutions engage the CSR initiatives which are used to help the socially-excluded people to develop both socially and economically. The initiative creates self-help groups and encourages the marginalized people to be innovative. The project also creates job opportunities which help many people. The impacts caused by the research are still felt up to date in Bangladesh.

 

 

 

 

References

Bartunek, J.M. and Egri, C.P., 2012. Introduction: can academic research be managerially actionable? What are the requirements for determining this? Academy of Management Learning & Education11(2), pp.244-246.

Bhattacharya, C.B., Korschun, D. and Sen, S., 2009. Strengthening stakeholder-company relationships through mutually beneficial corporate social responsibility initiatives. Journal of Business ethics85(2), pp.257-272.

Colquitt, J.A. and George, G., 2011. Publishing in AMJ—part 1: topic choice. Academy of Management Journal54(3), pp.432-435.

Dafforn, K.A., Glasby, T.M., Airoldi, L., Rivero, N.K., Mayer-Pinto, M. and Johnston, E.L., 2015. Marine urbanization: an ecological framework for designing multifunctional artificial structures. Frontiers in Ecology and the Environment13(2), pp.82-90.

Gotel, O., Cleland-Huang, J., Hayes, J.H., Zisman, A., Egyed, A., Grünbacher, P., Dekhtyar, A., Antoniol, G. and Maletic, J., 2012. The grand challenge of traceability (v1. 0). In Software and Systems Traceability (pp. 343-409). Springer, London.

Gruber, M., Harhoff, D. and Hoisl, K., 2013. Knowledge recombination across technological boundaries: Scientists vs. engineers. Management Science59(4), pp.837-851.

Gutberlet, J., 2012. Informal and cooperative recycling as a poverty eradication strategy. Geography Compass6(1), pp.19-34.

Werner, W.J., 2009. Corporate social responsibility initiatives are addressing social exclusion in Bangladesh. Journal of health, population, and nutrition27(4), p.545.

Discuss the various types of partners an international firm might adopt when expanding internationally. How can a business partner affect a company’s sales potential? Support your posts with academic literature.

Types of Partners

A general partner is a partner who takes part in the daily activities of a partnership. Also, the partner has the responsibility for the liabilities of the partnership in existence (Tsai & Hsieh, 2009). This type of a partner contributes capital to the business and is actively involved in the management. The partner takes part in the profits and losses incurred by the partnership depending on the partnership agreement (Keller, 2001). Secondly, a limited partner is a partner with a share of partnership but does not take part in the management of the partnership (Tanner, 1999). The type of partnership involves the contribution of capital by the partner. The type of partner is not liable for the investment greater than his/her investment to the partnership. The partner takes part in the profits and losses incurred by the partnership depending on the partnership agreement.

Nominal partner is a partner who does not make contributions of capital in the firm. Also, the partner does not take part in actively managing the business. The partner is only associated with the firm by allowing them to use his/her name (Tsai & Hsieh, 2009). The type of partnership majorly happens when the partner has popularity in the business community and the firm uses his/her name to gain influence in the market. Additionally, a secret partner is the one who partners with the firm but does not hold out in the public as a partner of the firm (Keller, 2001). The partner maintains his/her partnership as a secret. The liability of such a partner is unlimited. On the other hand, a partner by profit is the one who exercises his/her partnership when a firm earns a profit. The liability of this partner is unlimited.

How Partners Affect Company’s Sales Potential

Partners have great impacts on the sales potential of a firm. This is brought about by the fact that the partners are involved in policy-making of the organization as well which encompass the procedures employed in sales (Tanner, 1999). For this reason, the effect on the potential of the sales can be either positive or negative. To attain positive impacts, the partners will have attributed to the formulation of effective policies for sales (Kedia & Mukherji, 1999). On the other hand, if the policies set on sales are not effective, the firm will have diminished sales.

The partners have an influence on the reputation of a firm. Some partners are reputable and this is transferred to the firm in question after initiating the partnership. This kind of partners will influence the potential for sales positively. The effect is seen when more customers get to purchase products from the company as they are attracted by its reputation that is influenced by the partner (Tsai & Hsieh, 2009). For this reason, the company will be likely to make more sales both currently and in the future. On the other hand, there are other partners that are not reputable. For this reason, they don’t have a positive influence of the firm in the market (Kedia & Mukherji, 1999). Hence, there is no acquisition of new customers to purchase items from the organization. For this reason, the firm gets the negative potential for sales.

References

Kedia, B. L., & Mukherji, A. (1999). Global managers: developing a mindset for global competitiveness1. Journal of World Business34(3), 230-251.

Keller, R. T. (2001). Cross-functional project groups in research and new product development: Diversity, communications, job stress, and outcomes. Academy of management journal44(3), 547-555.

TANNER CAVUSGIL, S. (1999). Executive Insights: International Partnering-A Systematic Framework for Collaborating with Foreign Business Partners.

Tsai, K. H., & Hsieh, M. H. (2009). How different types of partners influence innovative product sales: does technological capacity matter? Journal of Business Research62(12), 1321-1328.

What does the literature say about the different forms of organizational structure; especially look into the variations facing business operating internationally.

Different Forms of Organizational Structure

Businesses operating internationally face various variations in organizational structure. These variations are a result of the different cultures and operating systems of the different nations. Although this is the case there are some baselines in these nations. For instance, women are considered a minority group among entrepreneurs. Though the number of women in management positions and entrepreneurs has increased the group is still marginalized (Iiris and Hanna, 2009). Even when women succeed in businesses or entrepreneurs their position is not legitimized as they are considered marginal. Women normally use autocracy and democracy leadership methods (Arthur, et al., 2005). They believe in flexibility and the human way of leading others. It is a common denominator in all nations globally, although with the development taking place the rate of women marginalization varies in the different nations.

There are different organizational structures used globally. Some structures are integrated while others stand on their own for the given nation (Gillespie & Riddle, 2015). The line organizational structures seem like the common structure in most nations (Ahmady et al., 2016). With this there is the CEO who is the head of the organization, then the managers. There can be different managers depending on the size of the organization and the roles the organization is fulfilling. For example, there can be the marketing manager, supply and logistics manager, IT manager, and any other depending on the scope and function of the organization. Below every manager, there are different workers. Like the marketing department can have the sales officer, advertisement officers. The lowest level is the workers. The marketing department can have sales personnel as their lowest level of workers. The line organizational structure is simple and promotes better decision-making processes.

Bureaucratic organizational structure or functional structure. The division of management roles is based on administrative roles available (Appice, et al., 2015). Normally the available work is done wholesome as there is a likelihood of having one manager. The different specialty in the organization is the dividing factors. All the rest are treated as commoners. The type of organizational structure is mainly based on organizations that have one core mandate. There is no need for more managers. The advantage of the functional structure is every individual is aware of their duties and roles. There is less confusion likely to occur as people carry out their responsibility (Harper, 2015). The disadvantage comes during communication, as there are fewer department setups there is a communication barrier.

There is no standard organizational structure for all nations but there are some common features in the different structures (Bodine & Rasmussen, 2017). The structures do not determine the success of the organization but the working regimes do. Proper communication also contributes to this success. Division and Line and Staff Organizational Structure are also other structures used though not that common (Stanford, et al., 2012). The function and purpose of the organization will be considered when determining the appropriate structure.

As long as there are inclusivity, diversity, and recognition of all the parties involved in an organization the organizational structure will have less impact. Workers who feel the environment is conducive and the case of women feeling part of the organization makes working easier (Arthur, et al., 2005). In whichever organizational structure making sure women are included plus another minority group is one way of a successful organization.  Although the culture of most nations have marginalized women, making sure they have a position though not all of them will give the rest confidence in that organization

References

Ahmady, G. A., Mehrpour, M., & Nikooravesh, A. (2016). Organizational structure. Procedia-Social and Behavioral Sciences, 230, 455-462.

Appice, A., Di Pietro, M., Greco, C., & Malerba, D. (2015, September). Discovering and tracking organizational structures in event logs. In International Workshop on New Frontiers in Mining Complex Patterns (pp. 46-60). Springer, Cham.

Arthur P. Brief, Elizabeth E. Umphress, Joerg Dietz, John W. Burrows Rebecca M. Butz, Lotte Scholten, Community Matters: Realistic Group Conflict Theory And The Impact Of Diversity (2005)

Bodine, D. J., & Rasmussen, K. L. (2017). Evolution of mesoscale convective system organizational structure and convective line propagation. Monthly Weather Review, 145(9), 3419-3440.

Gillespie, K., & Riddle, L. (2015). Global marketing. Routledge.

Harper, C. (2015). Organizations: Structures, processes, and outcomes. Routledge.

Iiris Aaltio and Hanna Peltonen, Portraits of Russian Women Entrepreneurs: Identification and Ways Of Leadership. Journal of Enterprising Culture Vol. 17, No. 4 (December 2009) 443–471

Stanford A. Westjohn, Nitish Singh, and Peter Magnusson, Responsiveness to Global and Local Consumer Culture Positioning: A Personality and Collective Identity Perspective. (2012)

Your analysis should consider both what the text is saying and how the message is being expressed. Your close reading should be double-spaced, in 12-point font (Calibri or Times New Roman only), and between 1000 and 1200 words.

The Last Time We Worshipped in the Church of the Nightly News

American societies trust in journalism has changed from when anchormen were recognized as “power figures trusted by the American public”.  The Ministerial role of the anchorman has diminished while news resources available to citizens have broaden. However, Michael J. Socolow marks that the citizens have taken to an exhaustive view of the anchorman following the 1970’s and has changed the (“cross-culture respect accorded past network news anchors”), notably and more apparent following 9/11.  Michael J. Socolow’s personal connection to the journalism industry is due in part to his father’s previous occupation as a broadcaster with CBS news from the early 1950s as a TV newsman at CBS News from 1950s into the 1980s”. Socolow is giving his readers an outlook of how the industry has evolved from citizens relying on information direct from their local news channels as his father puts it, “you want your news straight from the mountaintop” which means that in his father era the anchormen and their broadcasting station was America’s primary news source conveyed locally by a respected personage, consequently they found themselves at times challenged by viewers , “Vitals” when information was inconsistent or non-transparent.

The anchorman’s reputation and dedication while vulnerable to misrepresentation of information and scrutiny has become questionably unreliable and the public non patriotic. The author Socolow presents some of the challenges journalist face for instance “reconfirming their audience’s biases”, unintentionally reporting compromised information and presenting inaccurate news to the public by means of “conspiracy theories” of unproven claims, these situations can affect their careers significantly.  When trust is lost society is vulnerable to manipulation from various media outlets, the risk is the public views can be sways left or right for example political and marketing campaigns.

The authors portrayal of journalism from the early days describes their behavioural tactics presented to their viewers, such as intimidating guests, voicing strong oppositions on topics, he notes they, “challenge viewers on vitals”. It appears he’s describing how the reputation of anchormen began highly respectful to the present day becoming shifty journalists.

Socolow brings to light how news reporting of Inaccurate/leaked information and conspiracy theories by media, various broadcast agencies can be compromised and misrepresented to the public. Televising of dangerously false news “Some pass along conspiracy theories on cable television”, was at times life changing and can be challenged by opposition leaders and political powers. He mentioned Bush exploited Dan live, “TV interview to insult Dan Rather in response to a critical line of questioning” and how other politicians like Bill Clinton “He went after Fox news’ Chris Wallace in 2006” followed suit, this strategy became a “political tactic” as appose to primarily the journalist waving their wand and delivering powerful words in their statements not knowing what consequences or back lash they could face.

The downside to the anchormen job, is career ending incidents like the case of Rather’s career at the CBS Evening News that culminated to an end effecting his reputation as presenting reliable trustworthy news. Rather’s show of emotion on the “The Late Show” is an example of the stress experienced by broadcasters revealing their humanistic side of how the news can affect their lives.  The authors examples continue to point to how Anchor-man’s career can be diminished due to unreliable inaccurate news told to the public and how it can backfire resulting in broadcasting organization losing credibility by 2005 “however, the idea of the heroic network TV anchorman speaking truth to power had largely disappeared”. The author pinpoints the time at which the lifestyle of the nightly news broadcasting experienced a societal turn in receivership proceeding the Sept 11, 2001, terroristic attack. Popular Anchor-men Peter Jennings, Dan Rather, and Tom Brokaw would collaborate from various news outlets showing how they can work in unison during a dramatic emergency management crisis like 9/11. He points that they “commentated live in front of the camera” which brought them closer to their viewers providing citizens a personal connection to what was going on and demonstrated their sincerity to the issue. At the beginning of his article Socolow’s explains that the reputation of the anchormen was that of a curated person, but simultaneously might not have been taken to seriously, “TV anchors have evolved into the cartoon characters lampooned by Hollywood”.  In his view the classic anchorman proceeding 9/11 has faded away, leaving the public confused since, “Tabloid decade” to taking a front row seat watching traumatic events taking place.  navigate through a bombardment of TV and online news, and information overload.

Socolow’s is presenting information which indicates the changes in broadcasting since his father’s era. In the 1970s it was like a cultural nature for citizens to receiving news from their local stations, but with “limited broadcast options” it eventually opens the door to night talk shows like the Mary Tyler Moore Show, Socolow’s says, “they’ve evolved into the cartoon characters lampooned by Hollywood” and his term of they might become (dangerous anchormen) like “Madmen” in TV newsroom. This describes that as the years going on and events become more intense and the various tactics used by broadcasting newsroom agencies has become unpleasant rather than salubriously good for the public, the reputation of anchorman is declining, and the information reported becoming high-risk to public scrutiny and political influence.

The anchorman Peter Jennings recalls of his separation from his family was coherent to what all Americans that was distant from the families and how the feeling of despair might have been. Yet their job is to remind the American people that they should remain hopeful for a better tomorrow. Peter Jennings unfortunately returned to his smoking addiction which later he was diagnosed with cancer. Socolow’s article is telling of a journalist from his father era were viewed as “ministerial” and they experience trauma from their responsibility to convey information to the public, “essential role in sustaining a shared and accepted informational identity for our national community” while it can lead to an exhausting career and they at times loose credibility, So too the public can experience emotional distress from bad information just as they can be moved in a positive direction to trustworthy news.

Rreferences

Socolow, M. J. (2021, September 10). The last time we worshipped in the church of the nightly news. Slate Magazine. Retrieved October 25, 2021, from https://slate.com/business/2021/09/911-anchormen-nightly-news-rather-jennings-brokaw-legacy.html.

In a short essay, discuss different ways to prepare for a cross-cultural negotiation, and ethical dilemma.

Cross-cultural Negotiations and Ethical Dilemmas

Different ways to prepare for a cross-cultural negotiation, and ethical dilemma

Managers are often faced with ethical dilemmas and situations that require cross-cultural negotiations. In such circumstances, they require means to overcome the situations successfully. Certain dimensions require to be considered in the negotiations due to differences in values, practices, and beliefs across various cultures. Also, aspects such as language barriers make such negotiations to be challenging for the individuals involved. Solving ethical dilemmas is even more complex when done across borders (Grogan & Brett, 2017). This is because things that are acceptable in one culture might not be acceptable in another. To attain effectiveness, certain negotiating skills should be employed by the negotiators. The ways used to effectively prepare for cross-cultural negotiations are as follows:

Adapting to new processes

There is a need for the negotiator to familiarize themselves with all the processes required in successful cross-cultural negotiations. They should also be willing to embrace the way their counterparts conduct business. This way, the individuals will have an easy way of dealing with them. In addition, it is essential to understand cultural differences. Business operators should take time to understand different values and practices across different cultures in which they operate (Harkiolakis & Halkias, 2016). This way, the cultural factors influencing their interaction will be well understood. Also, if the negotiation is between two companies, it is essential to understand the culture of the other company so as to relate with their way of doing things. Keen preparation should be done prior to dealing with ethical dilemmas and cross-cultural negotiations to enable the individuals involved to adapt to the new processes involved.

 

Negotiating the important issues separate from the other issues

The negotiators should understand the need to negotiate important matters in a separate way. This is to allow them to give the issues the attention they deserve. Such issues are usually those with significant consequences. In addition, respectful negotiations are paramount in all situations. The negotiations should lead to a mutually acceptable agreement that will ensure peace between the negotiators (Groves, Feyerherm & Gu, 2015). Sometimes, separation of issues and handling them separately is the easiest way to solve the issues at hand. Also, the separation of issues comes in if different aspects of the matter are considered including the political and the economic aspect. Tackling them through the different designs ensures success in the matter as different experts can be involved based on their line of work. Separation of issues creates a healthy room for negotiations for solving the cases. Therefore, separating the issues is sometimes considered the best way to achieve a successful outcome.

Selection of a balanced approach

The managers should ensure to use a balanced approach that is the most appropriate to handle the issue at hand. The managers can choose to negotiate by sticking to whatever is done in their homeland or adapting the norms used in the foreign country. In as much as the manager may choose to follow the local principles, it is important to give room for some changes so as to accommodate the foreigners’ practices. This way, it will be easy to solve the issue when the two parties are satisfied. In whatever means used to solve the cross-cultural negotiations, respect should be shown to the customs in the foreign country. The essence of a balanced approach comes in whereby a balance should be a strike between the domestic norms and the foreign norms in responding to an ethical dilemma.

When making the cross-cultural negotiations and solving the ethical dilemma, the managers should ensure to honor the core human values. Regardless of the differences of business norms and cultures across different cultures, the managers should be able to honor human values in their efforts to negotiate. This is because there are cultural differences and confusion between what is right and what is fair (Grogan & Brett, 2017). The core human values are learned from the use of codes of ethics in the line of business. The values include respect for human dignity and human rights. Consequently, the values should be based on the principle that the manager should treat others the way he/she would want them to treat him/her.

Respect of tradition and consideration of the context under the negotiation or the ethical dilemma is essential. Understanding of whatever each of the traditions believes and practices is key in moving towards the right direction to conduct negotiations. For instance, understanding that a particular community does not condone a particular behavior will enhance the understanding of the issue at hand and how to solve it (Harkiolakis & Halkias, 2016). On the other hand, the context under which the issue is based is key in providing the baseline for the negotiations. Before making any attempt to solve the cross-cultural negotiations, the manager should seek to understand the context at hand. In addition, this is key to solving ethical dilemmas. For instance, the practices that are considered wrong in one country may be considered right in another country.

References

Grogan, C., & Brett, J. (2017). Google and the government of China: A case study in cross-cultural negotiations. Kellogg school of management cases, 1-15.

Groves, K. S., Feyerherm, A., & Gu, M. (2015). Examining cultural intelligence and cross-cultural negotiation effectiveness. Journal of management education, 39(2), 209-243.

Harkiolakis, N., & Halkias, D. (2016). E-negotiations: networking and cross-cultural business transactions. Routledge.

The Global Financial Crisis (GFC) has had a significant impact on the stability of international financial markets. Discuss the implications of the crisis for the ‘real economy’ and evaluate the regulatory responses that was ‘implemented’ in an attempt to stabilize the financial system.

Global Financial Crisis

Global Financial Crisis is an economic problem that affects many nations simultaneously. During this period, the financial markets are unstable, and there is a challenge in how the companies respond to the needs of the consumers without them losing faith in their capabilities. This type of crisis results in lesser lending since most financial institutions has little faith in companies since they feel that the situation may not allow them to pay back their debts. Countries are also affected by this situation since they cannot borrow from other nations. The developed countries feel that the developing countries may fail to honor their debts and thus they cannot lend them any money for development since there are no enablers to facilitate the repayment of the loan.

One of the real implications of the financial crisis is that it affects the GDP of any nation. During this situation, there is growth that has to be synchronized with the sudden decline of capital. This creates a loss of output since the boom-bust cycle of the economy is destabilized. Consequently, there is a fall in the GDP levels since countries and the International Monetary Fund are unable to carry out proper estimates of the effects of the crisis (Gros & Alcidi, 2010). The fluctuating impact also makes it difficult to predict the nature of the economy at the time. Additionally, the failure to understand the crisis and underestimate its effects also resulted in severe implications. Most institutions think that the crisis is a problem with their economy yet it is just a shift in the markets (Bernanke, 2018). It, therefore, creates mistrust among organizations to the detriment of most consumers who cannot access most products. Thus, the crisis affected the GDP of many nations, and it has also proved that most economists did not understand the science behind it and this affected the end consumers.

Another real impact of the global financial crisis is experienced in the credit markets. During this phase, lenders have reduced trust in their borrowers, and they claim their money before time. This is due to the perceived untrustworthiness in the borrowers which creates mistrust due to the conditions of the economy (Gros & Alcidi, 2010). At this point, lenders check if their clients have sufficient equity or collateral to ensure that there is a reduced risk on the side of the financial institutions. In such a situation, one of the regulatory responses by banks and governments is that they check to ensure that their borrowers have healthy leverages that can shield them from unexpected losses. This policy stabilizes the financial system since there is a module to ensure that either party can respond to the shocks in the financial system without incurring excessive losses. The external finance premium is also affected by the financial position statements of companies (Bernanke, 2018). This is because the crisis creates a situation where illiquid assets finance short-term liabilities. This is a regulatory response by lenders to ensure that there is a discipline in the borrowing trends.

Conclusively, it would suffice to state that the global financial crisis has had an effect on financial institutions and their relationships with their clients. The GDP of a nation is affected, and this affects the output of the workers in the state thereby reducing their credibility. Consequently, banks implement strict measures to reduce their chances of making losses. Some of the measures put in place include using illiquid assets to support short-term liabilities. Such leverage ensures that there is discipline among the borrowers. Additionally, the crisis affects most consumers since organizations have to increase their prices to ensure that they keep making profits to facilitate the clearance of their loans.

References

Bernanke, B. S. (2018). The real effects of disrupted credit: Evidence from the Global Financial Crisis. The Per Jacobsson Foundation Lecture, Bank for International Settlements, Basel, and forthcoming in Brookings Papers on Economic Activity, Brookings Institution, Washington, DC.

Gros, D., & Alcidi, C. (2010). The impact of the financial crisis on the real economy. Intereconomics, 45(1), 4-20.

 

Equity in Teacher Expectations

Equity in Teacher Expectations

Teachers play a crucial role in the academic motivation and success of their students both in and out of the classroom. Not only are they responsible for educating their students, but they are also in charge of guiding them to reach their fullest potential. In the United States, there are varying expectations that students have for their students that fluctuate from student to student, and from classroom to classroom. Students who have displayed academic excellence are expected to consistently perform well, while students who tend to struggle more are expected to fail. They also work to meet the expectations that their teachers hold for them, even if they are capable of surpassing those standards. Some teachers who are too lenient do not set any standards at all, therefore causing students to put in less effort in that class in comparison to other classes. The lack of high and equal expectations that teachers have for their students in the U.S. damages the extent of students’ achievements. Whether these expectations are influenced by societal stereotypes, teacher biases, or a student’s disadvantages, a form of equity should be enforced in American schools to ensure that certain students are not overlooked and receive equal attention from their teachers. Furthermore, teachers should develop clear and rigorous learning goals, so that the U.S. can foster a culture of high standards in the educational system that will consequently lead to student success.

A teacher’s expectation for a student’s success is reflected in the student’s achievements. A student’s achievements then affect their teacher’s expectations for their success. This vigorous cycle impacts school systems too immensely for teachers to be having low expectations, otherwise, this will result in students having low achievements. In a 2015 international study “The Applicability of Visible Learning to Higher Education”, educational researcher Dr. John Hattie examined 195 influences impacting student achievement. One of the highest influences was “teacher estimates of student achievement”, with the influence of student expectations of themselves following closely behind (Hattie & John). Teachers hold a striking amount of power over students, so if they expect little from their students, students will expect little from themselves.

Teachers’ expectations for students can be influenced by various factors, one of them being a student’s race or socioeconomic status. In the article “Superman and Me”, author and Spokane Indian Sherman Alexie assert that the Native American students in his school were expected to “be stupid” and “fail in the non-Indian world” (Alexie & Sherman). Although the background of a student may indeed affect their ability to learn and their access to certain resources, lowering the standards for what they can accomplish will only harm students and cause them to believe that they are not capable. In actuality, the Native American students were very much capable. However, they repressed their true intelligence in the classroom to align with those low expectations. If teachers get rid of biases and develop equity in their behaviors towards students, students would have equal opportunities to succeed and would feel more motivated to learn, knowing that their teachers expect the same from them as they do from other students with different backgrounds and abilities.

While the U.S. struggles to have high expectations for its students, other countries have prestigious teachers who consistently expect greatness from their students. Author Amanda Ripley, in her book “The Smartest Kids in the World”, explores the education systems of countries that have performed exceptionally well in the PISA, a standardized test that measures the critical thinking skills of fifteen-year-olds in mathematics, science, and reading. The United States has performed slightly below average in the PISA over the years, but the countries of Finland and South Korea have consistently done well, with Poland just recently advancing in recent years. These countries all share a commonality: high expectations from teachers. One aspect of the South Korean school system that American student Eric admired was “the high expectations that everyone had for what kids could do” (Ripley & Amanda 66). Students in South Korea perform extraordinarily well in school because high expectations are so deeply embedded in the school systems that it is natural for them to work diligently even outside of the school day. A similar culture has been formed in Poland schools, which went through a multitude of reforms to reach the level of academic excellence that they are at now, with the most crucial reform being to “raise the expectations for what kids could accomplish” (Ripley & Amanda 132). They accomplished this by forcing all students to stay together in the same academic environment for an extra full year, rather than getting separated into different programs based on their academic abilities. Providing similar equity in American schools would improve the students’ motivation to learn since they are all receiving the same high level of education and treatment from their teachers.

Holding teachers accountable for their biases towards particular students and pressuring them to place the same high demands for all their students would expose students to more possibilities and encourage them to reach beyond the expectations that have previously been set for them. Students’ attitudes towards learning would become more positive if teachers put in more effort into having a real interest in each one of their students. Rather than teachers simply expecting great accomplishments from their students, they have the power to turn those expectations into a reality.

Works Cited

Alexie, Sherman (2011). “Superman and Me.” [Los Angeles Times 19 Apr. 1998.] The McGraw-Hill Reader: Issues across the Disciplines. Ed. Gilbert H. Muller. 11th ed. Boston: McGraw-Hill. 580-583. Print

Hattie, John. (2015). “The Applicability of Visible Learning to Higher Education.” Scholarship of Teaching and Learning in Psychology. 1(1), 79-91. https://doi.org/10.1037/stl0000021

Ripley, Amanda (2014).  The Smartest Kids in the World: And How They Got That Way. Reprint, Simon & Schuster.