This will lead to motivation motivation theory

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– this will lead to motivation (Motivation Theory) Specific (measurable in a certain timeframe) Difficult (ex. Stretch goals) Accepted by those who are expect to achieve them (people must believe it’s possible) Participatory Goal-Setting : the more people that are involved in setting their goals, the more that people will work hard to achieve them Examples of metrics used to measure organization effectiveness: financial measures, new product development, quality, customer satisfaction, employee satisfaction, employee turnover, behaviors Financial measures are common because they allow for a clear estimation of ones “performance gaps,” but there are some pitfalls: o They assess outcomes of past decisions—they aren’t future-oriented o Being future-oriented allows for adaptation, responsiveness, efficiency, etc o Financial goals without behavioral goals may lead to unethical decisions Ethical Decision Making : Rules: 1. Utilitarian Rule 2. Justice Rule : what’s fair for everyone is sought; all outcomes should be equitable 3. Moral Rights Rule : people have certain rights that simply cannot be denied 4. Practical Rule : do only what the average person/society would approve of Ethical Tests: Front-Page Test, Golden Rule Rest (would I be willing to be treated in the same manner?), and Personal Gain Test (is an opportunity for personal gain clouding my judgement?) Approaches to Social Responsibility (from Low to High): Obstructionist : companies choose to behave unethically and without social responsibility Defensive : companies are ethical to the extent they stay within the law and legal requirements Accommodative : companies behave legally and ethically to balance stakeholder interests as the need arises Proactive : companies embrace socially responsible behavior 3
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Lecture Four: Business-Level Strategy Business-Level Strategy: strategic decisions occur at this level How should we compete? Which products/services will we provide, to which markets, and using what technologies? What will distinguish our organization from others? What’s our “distinctive competence” or “competitive advantage?” How is competitive advantage achieved? Overcome the Five Forces; Porter suggests: Overall Cost Leadership : low-cost position relative to a firm’s peers Differentiation : create products/services that are unique & for which customers pay a premium Focus Strategy : narrow product lines, buyer segments, or targeted geographical markets o To argue this strategy, you MUST first define what the industry itself is. You must start with something and prove that it’s being narrowed “STAFF” ON TOP “LINE” ON BOTTOM Overall Cost Leadership used integrated tactics along all parts of the value chain: Used along all parts of the value chain to aggressively construct efficient-scale facilities in pursuit of vigorous cost reductions Tight cost and overhead control Requires cost minimization in all activities in the firm’s value chain, such as R&D, service, sales force, 4 Primary Activities : making stuff
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