5 competitive rivalry zero star industry airline so

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Psychology Applied to Modern Life: Adjustment in the 21st Century
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Psychology Applied to Modern Life: Adjustment in the 21st Century
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5. Competitive rivalry
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Psychology Applied to Modern Life: Adjustment in the 21st Century
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Chapter 6 / Exercise 2
Psychology Applied to Modern Life: Adjustment in the 21st Century
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Zero star industry -airline (so much competition) (people will pick cheapest flight) Five star industry -soft drinks (brand loyalty) ( disregard price) Porter's four competitive strategies wide market: -cost leadership strategy (walmart) -differentiation strategy (apple, target) narrow market: -cost focus (low end products) -focused differentiation (IKEA) Single product strategy -company makes and sells one product -good because you focus on just that -but risky because it could fail Diversification strategy -operates several business to spread out risk -Unrelated and Related Diversification Unrelated Diversification Organization operates several unrelated businesses under one ownership (GE) Related Diversification -occurs when an organization operates, under one ownership, several separate businesses that related to one and other (Disney, Apple, Charmin) BCG Matrix -Stars (High market growth and High Market share) -Cash cow (Low market growth and High market share) -Question mark (High market growth rate and Low market share) -Dog (Low market growth rate and Low market share) Step 5: Implement/execute strategic plans -putting strategic plans into effect -People, strategy, and operations Step 6: Maintain control over strategy monitoring execution and making adjustments if necessary
Abraham Maslow Food, Security, love, recognition, self-fulfillment motivates you to perform but there's a hierarchy of needs accommodating allows the desires of other party to prevail administrative management managing the total organization advice teams created to broaden the information base for managerial decisions. avoiding ignoring or supressing a conflict behavioral viewpoint emphasized the importance of understanding human behavior and of motivating employees towards chievement behavior science scientific research for developing theories about human behavior that can be used to provide practical tools for managers. Carroll's pyramid Be a good global corporate citizen- philanthropic responsibility be ethical in its practice- Ethical Responsibllity obey the law- Legal responsibility make a profit- Economic responsibility classical view point emphasize finding ways to manage work more efficiently- Scientific and administrative, view humans as cogs not people Closed System little interaction with its environment cohesiveness tendency of a group or team to stick together complexity theory study of how order and pattern arise from very complicated, apparently chaotic systems.
compromising both parties give up something conceptual Skills ability to think analytically, to visualize an organization as a whole and understand how the parts work together contingency viewpoint emphasizes that a manager's approach should vary according to the environmental situation continuous improvement team workers who meet intermittently to discuss workplace and quality- related problemsq controlling monitoring performance, comparing it with goals, and taking corrective action as needed cooperating effects are systematically integrated to achieve a collective objective

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