...Ethics Paper Joshua Gilmore MGT/498 10-28-2013 Dr. John Olmstead Introduction Companies and organizations have many plans and goals that are set and chased after year in and year out. The main objective in the end is profits and a company cannot stay afloat if it isn’t profitable. Every company has its ways of being profitable. Ethics plays a large role in a company’s success and could make or break a company in the long run if the company does not practice responsible ethics. Having proper ethics is very important in our ever day life and now with consumers it is important that our companies and organizations are also acting with proper ethics. Some believe that helping the community around the company and abroad is the ethical thing to do and some believe that providing a good product at a good price is being ethical. Role of Ethics and Social Responsibility The concept of social responsibility proposes that a private corporation has responsibilities to society that extend beyond making a profit (Wheelen & Hunger, , 2010). There are many responsibilities in developing a strategic plan and the role that ethics play in the development. Chapter three of (Wheelen & Hunger, p. 70, 2010) speaks on a company that decided to not reach out to its stakeholders before making a move and decided to move to help the community around the company and abroad by spending a lot of the profits to reach out and better the community...
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...Effects of Quality Management on Domestic and Global Competition MGT 449 April 14, 2011 Traditionally, organizations focus primarily on return on investment and short-term profits. This traditional approach often has negative long-term effects. Many modern organizations now operate with a customer satisfaction based philosophy, focusing on long-term survival and prosperity (Goetsch & Davis, 2010, p.117). Two organizations that will be examined in this paper are Toyota Motor Corporation and Ford Motor Company Toyota Motor Corporation Toyotas Production System (TPS), was established based on two principles: The first is Jidoka, which can be translated as “automation with a human touch” and the second is “Just-in-Time”. “Jidoka means that when a problem occurs, the equipment stops immediately, preventing defective products from being produced” (Toyota, n.d.). Machines are able to detect problems on their own. “Just-in-Time is the concept in which each process produces only what is needed by the next process in a continuous flow” (Toyota, n.d.). Just-in-time, eliminates all waste by eliminating inventory and obtaining parts directly from vendors and allows for vehicles to be built efficiently in the shortest amount of time. JIT System has many elements that make the system run. These elements are: Leveled Production, Pull System, Continuous Flow Processing, Takt Time, Flexible Work Force, 3 M’s (Muda, Mura, Muri), and 5S’s (Sifting, Sorting, Sweeping, Spick-n-Span, and...
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...University Course # MGT 499 Module 2: Strategic Management: External Analysis In this module, my case assignment was to perform an external analysis of Toyota. Like other companies, Toyota operates in a complex global industry. In order to develop and execute a successful strategy, the Toyota Corporation must take into account the global automotive environment. As part of strategy Toyota must look at their current opportunities in the market. Along with these opportunities, Toyota also faces some threats. Toyota has taken many actions to respond to these environmental contingencies. Based on my analysis, Toyota should continue to focus on its customers, as well as coping with change, and announcing their responses to its customers. Toyota Motor Corporation is a multinational automaker headquartered in Toyota, Aichi, Japan; in the current market they have many opportunities. Currently, Toyota is one of the world’s largest automobile manufactures and employs over 300,000 employees. A major opportunity for Toyota is the new fuel efficient cars that they are producing. With the oil prices reaching record highs, Toyota has the advantage over other car manufactures with their more fuel efficient cars. This is one of their keys to success right now. Toyota is also producing cars that are targeted towards the younger generation of drivers. A great deal of money can be made here also. Acting on any opportunities in the automobile market is a risk...
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...A Lesson in Communicating Bad News: The Toyota Recall Crisis: Missteps, Miscommunications, and Missed Opportunities Mari E. Friedrich MGT 460 June 24, 2015 Abstract The paper will serve to examine the corporate leadership failures of the Toyota 2009-2010 defective acceleration recalls. Focusing specifically, on a case that occurred in the state of California in 2011, resulting in a massive recall by Toyota, and nearly 30 percent of all U.S. vehicle recalls in 2010. This study will center on Toyota’s response on the case facts and its internal and external communications with Toyota North America, the Toyota owners, and the National Highway Traffic and Safety Administration (NHTSA). It will also address key stakeholder issues and risks to the Toyota brand. Finally, desirable outcomes will be outlined for resolving the ethical challenges by Toyota, as well as possible solutions that could have been implemented and recommendations for the future. A Lesson in Communicating Bad News: The Toyota Recall Crisis: Miscommunications, Missteps, and Missed Opportunities Case Introduction There has been an unprecedented period of corporate crises over the past decade. Effective crisis management has been a key element in whether a company can ride the storm and come out the other side. There is a constant presence of crises in the world of business and global business today that the public has seen firsthand. A crisis can happen to any company, large or small in every...
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...MGT 550B MANAGING THE INNOVATION PROCESS Course Introduction Managing the Innovation Process Panos Kouvelis Emerson Distinguished Professor of Operations & Manufacturing Management INSTRUCTOR BACKGROUND INFORMATION Managing the Innovation Process Panos Kouvelis Emerson Distinguished Professor of Operations & Manufacturing Management PANOS KOUVELIS Emerson Distinguished Professor of Operations and Manufacturing Management Director of Boeing Center on Technology, Information & Manufacturing Sr. Associate Dean & Director of Executive Programs Has Always Been a Good Student !! (avoided “real life” as much as possible) B.S., Mechanical Engineering, NTUA M.S., Industrial & Systems Eng., USC MBA, USC Ph.D., Operations Management, Stanford Loves to Teach 4 years, Business School, UT Austin 5 years, Fuqua School of Business, Duke 14 years, Olin School of Business, Wash.U. (My wife has decorated my home office walls with nicely framed teaching awards, “most popular professor at Olin, ***Bus. Week ranking”) Managing the Innovation Process Panos Kouvelis Emerson Distinguished Professor of Operations & Manufacturing Management PANOS KOUVELIS (cont’d.) Consults Frequently (to any firm having money & troubles to spare) Recent “victims”: Solutia, Duke Hospital, IBM, Aerofil Tech., Express Scripts, LHB Ind., Reckitt & Beckinser, Boeing, Ingram Micro, MEMC, Spartech, MECS, Maxim, Bunge, Smurfit Stone, and Emerson. Writes a lot (“publish or perish”)...
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...Boiled Frog Phenomenon Irma E. Jimenez American Intercontinental University MGT 680 – Strategic Management August 30, 2013 Abstract The “boiled frog” phenomenon will be explained and how it relates to strategic management. An example of a business or businesses undergoing a similar situation will also be given and how could they have avoided the effects of the “boiled frog” phenomenon. Boiled Frog Phenomenon The purpose of this paper is to elaborate about the term "boiled frog" phenomenon which is a story about a live frog placed in a large pot filled with cold water. The experiment done with the live frog is also meant to compare it and how this story relates to strategic management in the business environment. An example in regards to a firm that has undergone a similar situation will be given as well and, how that business could have avoided the effects of the “boiled frog” phenomenon. A few questions will follow to explain the process. What is the "boiled frog" phenomenon? According to the article by Polynice, when a frog is placed inside a pot of boiling water, on top of a stove, the frog will react very fast and will jump out of the water immediately. But, if the same frog is placed inside a large pot filled with cold water and then put on top of the stove and it is turned on to be heated up slowly, the frog will not notice the change of temperature (Polynice, 2007). Eventually, the frog felt unconscious...
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...MGT 303 Final Exam Peanutty Food and Co. 1. What actions can Peanutty’s managers take to ensure the supply of raw materials for its operations, while reducing the risk of stockouts or high production costs? They can operate on a just in time method, when they get a constant understanding of demand. This way they can cut production costs, by only making what they need. They can also predict when they need more inventory to make sure that they never run out of stock for their customers to purchase. 2.What activities could be developed by Peanutty to reduce or manage the power od its suppliers and customers to minimize risks and maximize profitability? Peanutty needs to venture out and expand themselves on the market. Coming up with more innovative and creative uses for peanuts and products for them to be used in could assist the company in gaining more customers. Gaining more customers is very important for this company. The smaller the customer base is, the less “wiggle room” the company has. Peanutty reaching out to other suppliers and companies could help the company to expand its customer base. Small businesses and customers would likely prove to be more beneficial, as opposed to big box food manufacturers whom are likely interested in the money. Smaller companies are often willing to allow more equally allotted bargaining power, in an effort to help each other on the collaborative venture. Partnering with smaller suppliers could cut costs, and allow Peanutty...
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...DR KALIM KHAN MOTIVATIONAL LECTURE Kis mein jyada fayda hai ? Hath mein paise hokar paise banana OR paise na hokar paise banana ? Trace the history of bankruptcy. They made lots of money. But today they are nowhere. Ex : Kodak, Nokia, Kingfisher Every brand started with 0, but became bankrupt when they had lots of money. You can move from 0 to 100, but then from 100 to 105 it becomes difficult. It has been observed that after certain stagnancy it plunges down. So How would u like to see the graph ? Why do they die down? 1. Lack of innovation : Generally people misinterpret this word with invention. Any improvement done and if it gives money , then it is called INNOVATION. If it doesn’t give money it is called CREATIVITY. Ex : Today there is no medicine for AIDS. But if medicine is found then it is INVENTION. Ex: Different ways of thinking is creativity. There are no examples of creativity. When creativity gets practical implication and you get money is innovation. Ex: Steve Jobs was highly creative and what he gave the world by way of his product was innovation. Innovation is not only in product but also in selling / systems. Ex : unique ways of selling. Direct marketing. Door to door selling. All the product was existing in the market. So very innovative in selling. Ex : Pan Parag Product was competitive. But no corporate competitors . This was way back in 1983. But he took the route of paanwala and sold thru them only. Actually they were his...
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...Tiffin University CASE REACTION TO JAPANESE MANAGEMENT STYLES Submitted for MGT 505 (Section 91) Fundamentals of Business Enterprise Dr. Perry Haan, Professor of Marketing By: Michael Bond Ypsilanti, Mich. September 25, 2011 The Effectiveness of Japanese Styles of Management Introduction The article was a review and critique of the effectiveness of Japanese styles of management. Through case studies, three main research questions emerged: 1. What are the distinctive qualities of Japanese work organizations? 2. What happens to these qualities when Japanese organizations are established in western countries? 3. Are there ‘universal’ effects of particular forms of organization, or is it more the case that what is required at one place or time would not have the same effect at another place or time? Points of Agreement • The difference between the western viewpoint of Japanese society and the Japanese management style. (Smith, 1984, p. 123, col 1, par 1). Western society, mainly writers and movies, have presented Japan as a conformist society. The movie, Gung Ho (1986, Paramount Pictures) is about a Japanese auto company taking over an American auto company. The Japanese management is shown as working as a unit and not trying to rock the boat. They also lower salaries and try to get everyone trained on every job as to conform. A study by Klauss & Bass (1974) studied group decision making...
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...Economist readings 1. It pays to give Allowing consumers to set their own prices can be good for business; even better if the firms give some of it to charity http://www.economist.com/whichmba/it-pays-to-give?fsrc=nlw|mgt|01-12-2011|management_thinking [pic]IN OCTOBER 2007 Radiohead, a British rock group, released its first album in four years, “In Rainbows”, as a direct digital download. The move drew a fair bit of attention (including from this newspaper) not only because it represented a technological thumb in the eye to the traditional music industry, but also because the band allowed listeners to pay whatever they wished for it. Some 60% of those who seized the opportunity paid nothing at all, but the band seemed pleased with the result; one estimate had it earning nearly $3m from the experiment. One group outside the music industry taking an interest was a trio of professors then at the Rady School of Management at the University of California, San Diego: Ayelet Gneezy, Uri Gneezy and Leif Nelson (who is now at the Haas School of Business at the University of California, Berkeley). Inspired, they designed a series of experiments to gauge whether pay-what-you-want pricing would work for other businesses. Their most recent experiment, co-authored with Amber Brown of Disney Research and published in Science, also stirred in a new element: would it make any difference if firms donated some of the pay-what-you-want fee to charity? The authors set up their pricing experiment...
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...Advantage Paper Strategic Management MGT/498 Competitive Advantage Paper Riordan Manufacturing has several competitive advantages it can establish, which coincide with previously researched organizations. This paper discusses those advantages and competitive strategies meant to improve innovation and the sustainability both domestically and globally. An explanation and estimation of how these strategies will affect sustainability of long-term performance and an explanation of the impact of the global market on Riordan’s business strategy concludes the paper. Competitive Advantage Every organization can establish some type of competitive advantage. Recent research about the competitive advantages of FedEx, Southwest, Toyota, McCain Foods, and Cargill assists in identifying Riordan’s competitive advantage. The first step in creating a competitive advantage is creating a mission statement and developing a strategic plan. Firms that operate with a strategic plan develop a focus and tend to have everyone in the organization aligned. Introducing unique core products or services leads to the establishment of a competitive advantage. In the case of FedEx, the core service is transporting products from one point...
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...OHIO STATE UNIVERSITY UNDERGRADUATE PROGRAM SPRING, 2005 BUS. MGT. 739 PROCESS ANALYSIS AND IMPROVEMENT Professor Bill Berry Office: Fisher Hall 660A Telephone: 292-3173 Office Hours: Tuesday/Thursday 3:30 - 5:18 PM (or by appointment) Class: Schoenbaum Hall 210 Tuesday/Thursday 1:30 - 3:18 PM Course Description Table of Contents Page I. Perspective of the Course 2 II. Content of the Course 2 III. Objectives of the Course 2 IV. Teaching Approach 2 V. Course Material 2 VI. Grading 3 VII. Instructor's Expectation 3 VIII. Sequence of Topics 4 IX. Assignment Questions 6 I. Perspective of the Course This course will present a management perspective on the analysis and improvement of processes in both manufacturing and service operations. The improvement of processes to reduce cost and time is a critical activity in business today in order to be competitive in the market place. U.S. firms are under severe pressure to be competitive against world-wide...
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...Supplier Development at Honda, Nissan and Toyota: Comparative Case Studies of Organizational Capability Enhancement* Mari Sako Professor of Management Studies Said Business School University of Oxford Park End Street Oxford OX1 1HP, UK Email mari.sako@sbs.ox.ac.uk October 2002 * This study was funded by the International Motor Vehicle Program (IMVP), the UK Economic and Social Research Council, and the Japan Foundation. I am grateful to the interviewees at the three automakers and suppliers who gave generously of their time. I also appreciate the comments of many colleagues, and in particular those of Bill Lazonick. Abstract What factors facilitate and constrain the development and replication of organizational capabilities at suppliers? This question is addressed in a comparison of historical case studies at Toyota, Nissan and Honda in Japan. First, as expected, replication difficulty is overcome by enabling companies to share the process of accumulating tacit knowledge. Second, the interdependence in the hierarchy of routines, that constitute organizational capabilities, has led companies to broaden the scope of supplier development. Third, this broadening challenges suppliers to accept buyer companies’ intervention in internal investment decisions, requiring a certain type of corporate governance. It is argued that the boundary of a capability-based organization may go beyond legally distinct units of financial control when firms are subjected to a cumulative process...
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...LOVELY PROFESSIONAL UNIVERSITY INSTRUCTION PLAN (for Lectures) Term: 3rd Course No. COM604 Course Title: STRATEGIC MANAGEMENT L: 4 T: 1 P: 0 Textbook: 1. Hunger J. D. and Wheelen T. L. , Strategic Management & Business Policy, Pearson Education, New Delhi, 8th Ed., 2006 Other Specific Books: 2. Kazmi, A. Business Policy and Strategic Management, Tata McGraw Hill, New Delhi, 2nd Ed. 2007 3. Jauch, R. Lawrence, R. Gupta and W.F.Glueck, Business Policy and Strategic Management, Frank Bros.&Co., 7th Ed.,2007 Other readings: |S. No |Journal articles as compulsory reading | |. |Camillus, J. C. Strategy as a wicked problem, Harvard Business Review, May 2008 | | |Hirotaka, The contradictions that Drive Toyota’s success, Harvard Business Review, June, 2008 | | |C.K. Prahalad’s Plan: India @75, Business Today, August 24, 2008 | | |McAfee, A. and Brynjolfsson, E., Investing in IT that makes a competitive Difference, Harvard Business Review, July-August, 2008, PP.98-107 | | |Collis, D.J. and Montgomery, C.A., Competing on Resource, Harvard Business Review, July-August, 1995 ...
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...strategy execution at all levels of the organization. Course objectives 1. Understand Strategic Management as a process and be able to apply its principles to diverse business situations. (Linked to MBA’s Learning Goal #1. B) 2. Develop skills necessary to analyze the competitive situation facing various types of economic organizations; isolate important sources of competitive advantage and disadvantage; generate and make decisions among various strategy alternatives; plan for successful execution of selected strategies; and persuasively communicate these analyses and recommendations to others within the organization. (Linked to MBA’s Learning Goal #3. A, B, and C) 3. Gain experience with the case analysis method as applied to business situations. (Linked to MBA’s Learning Goal #3. C) 4. Gain experience working in teams to solve business problems. (Linked to MBA’s Learning Goal #5. A) Class policies Attendance: You will be expected to attend all classes. If you have a good reason you must miss class, please let me know. Excessive or unexcused absences will result in a reduction in grade. General 1. Varying points of view, constructively offered, are welcome and encouraged. Complexity and ambiguity are characteristic...
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