...Of the six “Weapons of Influence”, the first one I will discuss will be reciprocity. As this concept in Cialdini’s book, I began to think about the commonly used phrase “If you scratch my back, I’ll scratch your back”. Often this phrase means if you someone does something nice or out of the way for you, it is only right that you return the favor. It is common for people to consider the exchange of gifts when the term reciprocity comes about. On the contrary, it goes more into depth than just physical aspects or noticeable items. For instance, it is used in a great extent in politics and leadership. When I started my job as a waitress, I was inexperienced and fairly young. My manager at the time was just appointed manager and was learning as she moved forwards. She hired me and took a chance that any other manager would not have taken. She was very patient, attentive, and kind while training me and fixing my mistakes. She gave me time and constructive criticism that helped me develop as a waitress. Over the months, I became a hard-working and reliable waitress. Eventually, I was offered a different waitressing position at another restaurant that was better in location and offered better benefits. Ultimately, I had to choose between the two restaurants. The current restaurant that I was working at was having a difficult time keeping dependable waitresses and were constantly hiring and firing. So, I knew that I was maybe one of the last good, reliable waitresses that they had on...
Words: 1180 - Pages: 5
...With the introduction of currency, cultures began to implement negative-reciprocity into their economic systems and social organizations. Instead of bartering and creating social bonds, people try to get the most out of a trade/social interaction, while giving up the least of their possessions/money. Different cultures have developed means of using negative reciprocity to their benefit. Many societies have used negative reciprocity in their trade and sharing systems to both strengthen and fight existing relationships as well as ward off foreigners. Negative reciprocity is apparent in the fraternal polyandry that is practiced in Tibetan societies of North Nepal. Lee Cronk’s Reciprocity and the Power of Giving and Melvyn C. Goldstein’s Polyandry: When Brothers Take a Wife support the argument that the different tribes’ methods of integrating negative reciprocity into their everyday lives is both practical and beneficial to the preservation of their cultures. Negative reciprocity is evident in Cronk’s passage when he initially describes that there are “strings attached” (this specific example is about the !Kung people, but is applicable to the other tribes) to exchanges when they take place (140). The ‘strings’ are the very essence of the trade between Indians and Indians as well as Indians and colonists, and upon learning this, the colonists understood the deeper meaning of trade amongst other cultures. The ‘strings’ in other cultures go further than those of our own. One may use...
Words: 548 - Pages: 3
...TermPaperWarehouse.com - Free Term Papers, Essays and Research Documents The Research Paper Factory JoinSearchBrowseSaved Papers Home Page » Business and Management Case of Gm (Non-Market Environment) In: Business and Management Case of Gm (Non-Market Environment) Question 1: Identify and explain the 4l’s based on the case. a. Issues The dispute over the safety of the PICKUP TRUCKS, vehicle safety and defective design Firstly, the root cause is that the GM company has a unreasonable design of their gas tank on the collisions GM C/K pickups, the report shows that this pickups’ gas tank was too close with the bumper, it only 25 centimeters long. This is dangerous because that will cause explosions if there is any strike. A safety design should be place the gas tank on the top of axle or add on a shield between the gas tank and bumper. Further, the report also shows that the gas tank design was used for trucks manufactured between 1979 and 1987, and the fact is GM knows about their design problem but take no measure to fix or recall their cars because that will cause more cost. At the Moseley case happens, there are at least 130 other lawsuits involving the design of the gas tank GM need to faced. So the major issue of this case in this point is that whether the gas tank design and placement were defective and because that explosion case after their pickup was struck on the side by another vehicle. And those assumptions were proved by the GM engineer who is testified...
Words: 570 - Pages: 3
...Supply and Demand Simulation Joseph Silva Eco 365 FARIBA KHERADMAND 5/6/14 In this paper we will be observing the key points of microeconomics and how it relates to week twos supply and demand simulation. We shall go over and review the basic principals on how the supply and demand curve works and is effected in certain senarios. Also in this summary we will go over the affects on equlibrium price, quantiy, and decision making. Finally we will talk about the firms stategies how it relates to the senario. The senario in this simulation brings you to a new city called Atlantis where you are a property manager of some two bed room apartments. Your job is to manage the rental rates and make sure things don’t get out of hand in reguads to shifts in the demand and supply. The first topic we shall review in this paper is the miro and macro economic principles that came up in the simulation. From the the microeconomy stand point the two concepts that came up were the supply and demand as well as price cellings. The supply and demand was the most obvious one to choose. In the simulation you had to figure out how much the supply and demand curve shifted. In most cases the demand curve was always shifting due to the preferences of the simulation always changing. If the population increased then the demand for the apartments increased. Same thing if the preference changed it could cause and increased affect or a decreased...
Words: 758 - Pages: 4
...of the product from the marketplace. It is characterized by specific stages, including research, development, introduction, maturity, decline, and finally obsolescence as the product is removed from the market (discontinued). Each stage is often linked with changes in the flows of raw materials, parts and distribution to markets as production (input costs) is adjusted to face increasing competition. The Product Life Cycle (PLC) is used to map the lifespan of a product. There are generally four stages in the life of a product. These four stages are the Introduction stage, the Growth stage, the Maturity stage and the Decline stage. The following graph illustrates the four stages of the PLC: There is no set time period for the PLC and the length of each stage may vary. One product's entire life cycle could be over in a few months. Another product could last for years. Also, the Introduction stage may last much longer than the Growth stage and vice versa. The Four Stages of the Product Life Cycle 1. Introduction: This stage mainly concerns the development of a new product, from the time is was initially conceptualized to the point it is introduced on the market. Introduction is a period of slow sales growth as the product is introduced in the market. Profits are non existent in this stage because of heavy expenspes of product introduction. The The great majority of ideas do not reach the promotion stage. The corporation having an innovative idea first will often have...
Words: 1111 - Pages: 5
...and marginal revenue, mixture of pricing structures, determine his business fixed and variable costs, product differentiation and techniques to minimize production cost. The elasticity of demand and market structure of the company is review in this proposal. The knowledge and comprehension of the topics mention above will aid Will Bury with the success of his business Will Bury predict to enter the market soon with his invention. Recently he manufactured new technology which converts printed conventional books to digital and audible books. This idea is patent due to the competition market. Audible book currently exists in the form of CDs. Due to this market rivalry Mr. Bury understands he is entering into a monopolistic competition. A monopolistic competition market is characterized by a large quantity of merchants manufacturing dissimilar products (McConnell, Brue, & Flynn, 2009). Entering into a monopolistic market is a difficult task which takes commitment and dedication. Mr. Bury will have to understand the barriers of entry into this market. Barriers to entry are elements that prohibit companies from entering into a particular industry (McConnell, Brue, & Flynn, 2009). The main three types of barrier for entering a start-up business in a monopolistic competition market are economies of scale, access to distribution, and government regulations (Kooner, 2011). There laws and regulations which makes entry either easy or difficult. Will Bury has recently patent his...
Words: 1298 - Pages: 6
...Marketing Strategies in two organisations Amazon Amazon used growth strategies to have a wider range of products for different markets. For example, you can find anything you like on amazon, which is why it is one of the most popular retailing website. Amazon is becoming bigger and bigger in the world, and it’s becoming more popular because when people visit the website, the products that they are looking for will certainly be there. Amazon and E-bay can offer the same products but you can find that some amazon’s products are cheaper and maybe better quality because the product that you have chosen is going to be well treated when is packaged and sent to the customer. Amazon cares about its customer and it wants to make sure that the products they sell won’t come back with any issues. Amazon made its website more approachable by adding apps and be able to download music. They also make its own product which is the kindle which is digital book reader and is the most cheap book reader you can find and the quality of it is excellent and this will make the customer think that Amazon is a great company to spend with. I think that amazon is doing a great job and I think that they will survive for ever. Maybe it was quite hard when they have started because not a lot people knew and there weren’t any adverts to say that they were there. But now you can find amazon in different countries and why not one day it will become a global company making a lot of profit by selling products...
Words: 1720 - Pages: 7
...COMPENSATION AND OTHER EMPLOYEE RETENTION STATEGIES Abstract There are three human elements that are important to any organizations success - good leadership at the top, effective management at all levels, and personnel who possess the knowledge and skills to get the job done. Retaining effective employees is a challenge, and replacing employees who leave an organization is extremely expensive. Roger E. Herman’s book Keeping Good People – Strategies for Solving the Dilemma of the Decade discusses five strategies that an organization can implement, and which will aid in retaining top talent. This paper discusses those five strategies. Compensation strategies are those which ensure top talent can be recruited, and retained due to competitive compensation from an organization. Environmental strategies involve efforts that address 1) ethics and values, 2) organizational policies that interpret values and translate them into action, and 3) the physical environment that a company’s employees occupy. Relationship strategies are the actions of how an organization treats its people, as well as how they treat each other. Support strategies are those that equip employees with the resources that they require to complete the job. People growing strategies are actions that organizations can practice that contribute to the professional and personal development of their employees. For most organizations to be successful there are three human elements which are crucial...
Words: 2886 - Pages: 12
...adopt the corporate reforms to enhance the quality of good corporate governance practice in the country. The main sources of the Corporate Governance reforms agenda in Malaysia other than Malaysian Code on Corporate governance are the Capital Market Master Plan (CMP) and also Financial Sector Master Plan (FSMP). This sources provides guidelines on the principles and best practices in corporate governance and the direction for the implementation as well as charts for the future prospects of corporate governance in Malaysia. Malaysian Code on Corporate Governance is an initiative that established by the Financial Committee on Corporate in 1998. This committee is consists of both government and also industry. MCCG was introduced on March 2000. This code brought a systematical change in structure of public and also private corporation. The principles underlying the report focus on four areas which are board of directors, directors’s remuneration, shareholders and accountability and audit. Compliance with the code is not mandatory. However, the listed companies in Bursa Malaysia are required to prepare their annual report on how they have applied the principles and best practices set out in the code and also provide the reasons for areas of non-compliance as well as the alternative practices adopted, if any. MCCG was revised several times in 2007, 2011 and 2012. This updates is due to several reason. For example, to improve the role and responsibility of directors, internal and external...
Words: 2720 - Pages: 11
...via activities of Vicarious Visions was based on the core innovation involving using RFID technology to wirelessly connect a computer to the toy figures via the USB port. In the driving seat of this development were Bala brothers who had accumulated significant experience in the video gaming industry, and thus, who were well positioned to understand nuances of the market, latent and unmet needs. This revolutionary innovation has given birth to an entirely new genre of the life-to-toy gaming approach that since has undergone rapid evolution. In its strategic positioning of the new product through differentiation the company took advantage of the natural desire of children to re-enact imaginary world into reality. Only Skylander reversed the direction of such transgression according to the current state of technology, from reality back into imagination, augmented and embodied by the video game experience. This product was a natural progression of a novel concept developed by Activision in 2005 when the game Guitar Hero heralding detachment from the existing consoles and demonstrating capacity to penetrate the market by crossing over various platforms. Thus, armed with the previous hugely successful experience of developing in-house capabilities to establish production of plastic and electronic assembly designs, the company was less averse to the risk posed by venturing into a principally new business of manufacturing a new category of toys – toys-to-life. Design and manufacturing...
Words: 2281 - Pages: 10
...Evaluation of Sony Corporation’s strategy Sony have successfully created an incredible brand name previously, however, its legend seem to be falling apart recently. In fact, Sony’s net profit for the July-September quarter for 2006 falling 94% to 1.7 billion Yen, compared to 28.5 billion Yen for the same period last year (Benson, 8th Nov 2006). The major reasons for the declining profit are affected by the critical strategic issues faced by Sony which became a main drawback for them. The first strategic issue faced by Sony was the inefficient manufacturing structures which decrease Sony’s quality that badly affects their reputation and caused a decline in product competitiveness. DeWit & Meyer (2004: p192) argue that “the essence of most uniquely Japanese management practice will be they productivity improvement, TQC (Total Quality Control) activities, QC (Quality Control) circles, or labour relation – can be reduced to one word: Kaizen”. They also argue that “the implication of TQC or CWQC (Company Wide Quality Control) in Japan have been that these concepts have helped Japanese Companies generate a process-oriented way of thinking and develop strategies that assure continuous improvement” (p192). However, in the case of Sony, they did not make any improvement or perform well in Kaizen or implement an efficient manufacturing structure that ensure high product quality which affect their product quality and caused a massive damage to the company. For example, there is the...
Words: 2653 - Pages: 11
...Evaluation of Sony Corporation’s strategy Sony have successfully created an incredible brand name previously, however, its legend seem to be falling apart recently. In fact, Sony’s net profit for the July-September quarter for 2006 falling 94% to 1.7 billion Yen, compared to 28.5 billion Yen for the same period last year (Benson, 8th Nov 2006). The major reasons for the declining profit are affected by the critical strategic issues faced by Sony which became a main drawback for them. The first strategic issue faced by Sony was the inefficient manufacturing structures which decrease Sony’s quality that badly affects their reputation and caused a decline in product competitiveness. DeWit & Meyer (2004: p192) argue that “the essence of most uniquely Japanese management practice will be they productivity improvement, TQC (Total Quality Control) activities, QC (Quality Control) circles, or labour relation – can be reduced to one word: Kaizen”. They also argue that “the implication of TQC or CWQC (Company Wide Quality Control) in Japan have been that these concepts have helped Japanese Companies generate a process-oriented way of thinking and develop strategies that assure continuous improvement” (p192). However, in the case of Sony, they did not make any improvement or perform well in Kaizen or implement an efficient manufacturing structure that ensure high product quality which affect their product quality and caused a massive damage to the company. For example, there is the...
Words: 2616 - Pages: 11
...Term Paper On Alternative Economic Policies for India based on analysis of the Alternative Budget INTRODUCTION Attempt has been made not to draw a detailed picture of an alternate budget but to understand the macro outline of the budget based on alternative policies. With rising debt and interest burden there was a need for a change in fiscal policy change In the Indian economy. This paper shows the possibility of an alternative change to the IMF dictated budget adopted at that time. A comparison has been made between four scenarios. Scenario I has been drawn up to show the 1994-95 budget if the country would have been persisted with the observed trends of 80s. Scenario II are the projected estimates for 1994-95 if IMF dictated policies are followed. It is not the budget that Finance minister may present. In scenario IV, alternative budget proposal has been detailed out with a real fiscal correction. It has been assumed that the policies are in place for five years. The scenario III is the first year of transition. Changes in taxation both direct and indirect have been done to raise revenue. Expenditures for various sectors have been estimated and the overall impact on the economy has been explained. A comparison between the revised estimates of 1993-94 and alternative budget 1994-95 (Scenario IV) has been done. Finally, the critique has been given with the responses to the critique by Arun Kumar. THEORETICAL BACKGROUND Financing of economic development through taxation-...
Words: 3137 - Pages: 13
...Table of content 1 Exective summary 2 Part A Difinition of EWRM Framework of EWRM COSO ERM frame work The comment on the statement Threats and responses of EWRM The corporate culture of EWRM Expensive or not for EWRM 3 Part B Background of Centro Identify risks in Centro Planning in the risk evaluation process Risk register of Centro Mitigation strategy and recommendations 4 Reference 5 Appendix Exective summary In the modern economy, companies are facing various types of risks and they begin to focus on the risk management. In the assignment, I introduce the enterprise-wide risk management in modern companies in part A and analysis the risks in Centro to create risk register. Through the result of risk register, I will give some recommendations and plan some mitigation strategy for risk management of Centro. Part A Difinition of EWRM Enterprise-wide risk managemnet is a buzzword used in the culture of the modern companies. Enterprise-wide, sometimes referred to organisation-wide or integrated though enterprise-wide risk management was also called organisation-wide or integrated risk managemnet. Risk management decribles how the discipline of risk management is partised in contemporary terms. In the definition by James Deloach, “EWRM is a new strategic process which enables you to identify, measure and manage the entire range of business opportunities and risks facing your organization...
Words: 5496 - Pages: 22
...the risk and control analysis of ExxonMobil Corporation. Research on the topic has been carried out based on the comprehensive analysis of the whole corporation, including the upstream, downstream and chemical business. The report will cover some key aspects including: Background, mission, objectives and strategies of the company Risks including both industry and business risks that the company faces Specific area of risks and controls Background, mission, objectives and strategies ExxonMobil Corporation is world’s leading petroleum and petrochemical company which is formed in 1999 by the merger of two major oil companies Exxon and Mobil. As the world's largest company by revenue and one of the largest publicly traded companies by market capitalization in the world (Wikipedia, 2012), ExxonMobil has many world spread operating businesses, such as upstream which includes oil exploration, extraction, shipping and wholesale operations, downstream which includes marketing, refining, and retail operations and chemical division. In 2012, with rapid growth, ExxonMobil becomes number 1 in Forbes Global 2000 list. * Mission Exxon Mobil Corporation is committed to being the world's premier petroleum and petrochemical company (ExxonMobil, 2006). To accomplish this mission, not only the financial and operating objectives must be achieved, the company should also follow specific ethical standards to build a perfect relationship between the company and stockholders, including shareholders...
Words: 2572 - Pages: 11
