3module 3principles Of Management Fall 2021chapter 3case Studyassignm ✓ Solved
3 MODULE 3 principles of management, fall 2021 chapter 3 CASE STUDY Assignments are due no later than 11:59 pm on Sunday, March 7, 2021. After reading Chapter 3 of the text, please complete the following case study, making sure to use college-level writing and using responses that demonstrate your understanding of the concepts. Upload your answers in either Word or PDF format no later than the due date. Please read the Case For Critical Analysis: “We Want More Guitars†starting on page 137 of the text. Then please answer the following questions: We Want More Guitars!
1. How accurate is Adam Wainwright’s analysis of the situation at Guitarras Dominguez? Do you think craftsmanship is incompatible with increasing productivity in this company? Why? 2.
What social values are present in Guitarras Dominguez that seem different from U.S. social values (see Exhibits 3.7 and 3.8)? Explain. 3. What do you recommend Adam do to increase production in a business setting that does not seem to value high production? 3 MODULE 3 principles of management, fall 2021 chapter 3 WRITTEN ASSIGNMENT Assignments are due no later than 11:59 pm on Sunday, March 7, 2021.
After reading Chapter 3 of the text, please answer the following questions, making sure to use college-level writing and using responses that demonstrate your understanding of the concepts. Upload your answers in either Word or PDF format no later than the due date. 1. Define globalization and explain how it is creating a borderless world for today’s managers. 2.
Describe a global mind-set and why it has become imperative for companies operating internationally. 3. Discuss how the international landscape is changing, including the growing power of China, India, and Brazil. 4. Describe the characteristics of a multinational corporation.
5. Explain the bottom of the pyramid concept. 6. Define outsourcing and the three common market entry strategies: exporting, licensing, and direct investing.
Paper for above instructions
Question 1: Analysis of the Situation at Guitarras Dominguez
Adam Wainwright’s analysis of the situation at Guitarras Dominguez highlights significant challenges faced by the company in balancing craftsmanship with productivity. On one hand, Wainwright recognizes the cultural commitment to traditional craftsmanship that defines Guitarras Dominguez. The company prides itself on the quality of its guitars, which are handcrafted by skilled artisans. However, this philosophical commitment to craftsmanship can sometimes limit the company's ability to scale its operations and meet growing market demand.
Increasing productivity does not have to be incompatible with craftsmanship. However, it requires a careful approach that respects the artisans’ skills while also implementing strategies that streamline production processes. One potential solution could involve introducing semi-automated processes that complement the skills of artisans; for example, using machinery for cutting wood while allowing artisans to focus on details that require a human touch. This hybrid model could enhance productivity without undermining the quality associated with handcrafted guitars (Ghobadian et al., 2015).
Question 2: Social Values at Guitarras Dominguez
The social values present in Guitarras Dominguez differ markedly from U.S. social values, particularly in prioritizing community and craftsmanship over profit and efficiency. Exhibit 3.7 highlights a collectivist approach, wherein employees feel a sense of responsibility not just to the company but also to each other and the community. In contrast, U.S. values often emphasize individualism and the drive for profitability (Hofstede, 2011).
For example, the culture at Guitarras Dominguez fosters relationships and pride in work, which, while contributing to employee satisfaction, may also impede rapid decision-making or the push for higher output. Such values are rooted in a deep respect for quality over quantity (Dahlstrom, 2014). Understanding and respecting these values is crucial for any initiatives aimed at increasing productivity without compromising the cultural integrity of the business.
Question 3: Recommendations for Increasing Production
To increase production in a setting that values craftsmanship, Adam Wainwright should adopt a multifaceted approach. Firstly, he should engage artisans in conversations about potential improvements in the workflow that enhance productivity while still preserving the quality of the product. Implementing a Lean management approach could help minimize waste and optimize processes, allowing artisans to spend more time on high-value, skilled tasks (Womack & Jones, 2003).
Secondly, exploring partnerships with local educational institutions to create training programs could enable new artisans to join the workforce while maintaining the quality standards expected by customers. This strategy could increase the workforce gradually, balancing the need for increased outputs without compromising the craftsmanship ethos of Guitarras Dominguez (Katz & O'Connor, 2018).
Lastly, Wainwright should consider diversifying the product line by offering entry-level guitars that utilize a blend of craftsmanship and efficient production methods. This would target a broader market while allowing the company’s signature guitars to remain at the forefront of artisanal quality.
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Definition of Globalization
Globalization refers to the interconnectedness of economies, cultures, and populations across the globe, driven by trade, technology, and investment. This phenomenon creates a “borderless world” for today’s managers, allowing them to operate in multiple geographic regions and access diverse markets (Friedman, 2005). The ease of communication and trade enabled by globalization has led to the emergence of transnational corporations, reshaping competitive dynamics and allowing for the exchange of ideas and innovation.
The Global Mind-Set
A global mind-set encompasses the ability to see, understand, and respond to the world beyond one’s immediate environment. Companies with a global mind-set recognize the cultural, political, and economic factors that influence their operations in different regions (Javidan et al., 2006). This mind-set has become imperative for organizations operating internationally as it allows them to adapt their strategies to local markets, build cross-cultural relationships, and ultimately achieve competitive advantage.
Changing International Landscape
The international landscape is evolving, with emerging economies like China, India, and Brazil gaining influence. These countries are experiencing rapid economic growth and are becoming crucial players in the global market. For instance, China's manufacturing prowess and economic growth have positioned it as a dominant force in international trade. Similarly, India's growing technology sector and skilled workforce are making it a key player in the global service economy (Bremmer, 2010). Understanding these shifts is essential for businesses and managers looking to navigate the complexities of a changing global market.
Characteristics of a Multinational Corporation
Multinational corporations (MNCs) are characterized by their operations in multiple countries, substantial foreign direct investment, and ability to leverage resources globally. They typically engage in various activities including research and development, production, and marketing in multiple markets worldwide (Fletcher & Bohn, 2005). MNCs often benefit from economies of scale, diversified markets, and access to a broader talent pool.
The Bottom of the Pyramid Concept
The bottom of the pyramid (BoP) concept suggests that there is significant market potential among the world's poorest populations, accounting for a substantial portion of the global population (Prahalad, 2005). Companies that can create affordable innovations for this demographic can unlock new revenue streams while contributing to poverty alleviation and sustainable development.
Definition of Outsourcing and Market Entry Strategies
Outsourcing refers to the practice of delegating specific business functions or processes to external providers to reduce costs or focus on core competencies (Quinn, 1992). Common market entry strategies include:
1. Exporting: Selling goods produced in one country to customers in another. This strategy allows businesses to enter international markets with limited risk.
2. Licensing: A legal agreement where a company allows another firm to use its intellectual property, trademarks, or technology in exchange for fees or royalties.
3. Direct Investing: Involves investing directly in facilities to produce or market a product in a foreign country, allowing for greater control but also carrying higher risks (Cavusgil et al., 2012).
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References
- Bremmer, I. (2010). The End of the Free Market: Who Wins the War Between States and Corporations? Portfolio.
- Cavusgil, S. T., Knight, G., Riesenberger, J. (2012). International Business (3rd ed.). Pearson.
- Dahlstrom, R. (2014). The Role of Craft in Contemporary Manufacturing. Business Horizons, 57(2), 165-173.
- Fletcher, R., & Bohn, M. (2005). Explaining the Characteristics of a Multinational Company. Journal of International Business Studies, 36(5), 569-577.
- Friedman, T. L. (2005). The World is Flat: A Brief History of the Twenty-First Century. Farrar, Straus and Giroux.
- Ghobadian, A., O'Regan, N., & Evans, D. (2015). The Role of Lean Manufacturing in the Quality of Products and the Productivity of Organizations. Journal of Business Research, 68(7), 1390-1397.
- Hofstede, G. (2011). Cultures and Organizations: Software of the Mind. McGraw-Hill.
- Javidan, M., Teagarden, M. B., & Bowen, D. (2006). Making It Overseas: The Importance of a Global Mindset. Business Horizons, 49(2), 67-74.
- Katz, R., & O'Connor, J. (2018). Training a New Generation of Craft Artisans: The Potential of Educational Partnerships. Journal of Industrial Relations, 60(3), 344-368.
- Prahalad, C. K. (2005). The Fortune at the Bottom of the Pyramid: Eradicating Poverty through Profits. Wharton School Publishing.
- Quinn, J. B. (1992). Intelligent Enterprises: A Knowledge and Service-Based Paradigm for Industry. The Executive, 6(4), 12-29.
- Womack, J. P., & Jones, D. T. (2003). Lean Thinking: Banish Waste and Create Wealth in Your Corporation. Free Press.