MBA 745 – Reflections on Module 3 Concepts
In mature organizations, there is quite often a need to reduce labor surpluses. What would you suggest as other means by which to accomplish this objective rather than with layoffs?
One of the frequently used methods is to try and take advantage of natural attrition. When an employee is let go due to poor performance, a person quits their position, or someone retires, the company can choose to not replace the outgoing employee. This can cause additional workload on remaining employees, but if managed properly, this can become an efficient method of cost cutting without mass layoffs.
If by chance your mature organization established a “no layoff” policy, what advantages would this provide the company? Are there disadvantages? Which would you advocate and why?
No layoff policies may be great at improving morale. The challenge is that something of this nature can hinder the company when push comes to shove. Not having the ability to layoff employees may require cost cutting measures in other areas that could affect quality. It could also require complete termination of positions. I think that companies should not create such a bind as this policy would create. They should look at methods of incentives for employees to keep them besides guaranteeing them no layoffs will take place.
We know that fast growing companies need more working capital than those growing more slowly or not at all, as in mature companies. What strategy would you use to ensure sources of cash as incoming cash flow is delayed, and fixed costs continue, and paydays come every week?
Companies that are well established are often in strong cash positions and low in debt. It is possible that the company might establish short term debt instruments in order to maintain payroll or paying suppliers when cash flow runs low. The best position is to try and establish a cash position that will always meet operational overhead expenses for at least one to two months. This allows for customer invoicing to be received and replenish the cash hoppers.
MBA 745: Reflections on Module 2 Concepts
An integrated communication program is a good tool for promoting a plan, program, or product. Promotional tools, of which there are traditionally four, can be used within a integrated communicational program. What are these tools and how effective are any of them separately or collectively in strengthening marketing communications?
The four promotional tools include advertising, personal selling, public relations, and sales promotions. Each one has it’s individual strengths, but they work best collectively. By having an integrated marketing program, each aspect of the product promotion conveys the same message. Customers are not confused about the product they are purchasing.
Should one of the intended objectives of a marketing communication program be effective word of mouth promotion? If so, how? If not, why?
Word of mouth continues to be one of the strongest methods of advertising. People always trust the word of a respected friend over that of a television commercial or advertisement of some type. The company needs to constantly convey the same message about their product so that word of mouth. Some companies will actually hire people to give word of mouth testimonies, visiting places such as internet message boards to give their “plug” for the product.
Is there a danger in a mature organization such as Hopkins Printing in using one type of system for its knowledge management needs? Why or why not?
It depends… if the knowledge management system uses standardized open formats, it may be able to interact with many other systems. If this is the case, then one tool can be successful in managing data and information. If the system is a legacy and proprietary system, then it may limit the growth potential of the business.
What significant use would knowledge management provide during the Mature stage of the lifecycle of an organization?
It is very important to have a constant eye on the customer. Regularly reviewing their wants and needs so that the business can adapt to meet them is important. Knowledge management tools can assist the business in reviewing these purchase patterns and creating products necessary for the customer.
MBA 745 – Reflections on Module 1 Concepts
Consider your own leadership traits. Do you more closely fit with the creative nature from MBA 715, the organizational nature of MBA 725, the growth nature of MBA 735, or the mature nature of MBA 745? Explain your response.
I am definitely more of the creative type. I do my best in “uncharted” territory. Thinking outside the box and coming up with new ideas are areas where I am most comfortable. This type of thinking will also be be beneficial in the mature stage if the business. Being able to creatively repackage or innovate old products is important during the maturity phase as well.
Reflecting on your personal past experiences, discuss an idea you developed, only to have it fail after the implementation. Why could you not sustain it after the implementation?
The only thing that comes to mind initially is some database programming I did at one time. The software, while functional and working, was too difficult to use. It did the job that was necessary, but the learning curve was not easy enough to make the tool worthwhile. Since it was not easy enough to learn, long term usage failed.
Think of the products/services of your current organization. How can the products/services be enhanced to appeal to larger segments of the current markets?
The biggest way we try to improve our products is by identifying new markets. Our products are fairly mature and not much can be done to redesign the base product. What we do is come up with new packaging configurations for the accessories that come with it. By finding out what accessories our customers want with the product, we are able to rejuvenate the sales of our product.
MBA 735 – Reflections on Module 6 Concepts
I have survived! This entry will wrap up my last week of MBA 735, the growth phase of a business. It’s been a good class, particularly because we got into a lot of the mechanical portions of the business… finance, capital budgeting, HR and so forth. Next up will be MBA 745, the Maturity stage of the business. Just one question to address this week…
What are the key leadership characteristics needed to lead an organization during growth?
The number one characteristic, in my opinion, is that a leader has a good understanding of him or herself. A leader needs to know where their strengths and weaknesses lie. When a business moves into growth, particularly rapid growth, there are very few leaders who are “jack-of-all-trades”. A good leader will know when they need to hire in the expertise necessary to perform well through the growth phase. This will allow the leader to focus on his or her skills. The leader also needs to be skilled at bringing together those who are in various waves of change… agricultural, industrial, knowledge, and judgment. A growing business will have many waves represented, and the good leader will get them all performing well together.
MBA 735 – Reflections on Module 5 Concepts
Even if you are not the top decision maker of an organization, why is it important to understand your organization’s competitors?
In order for a business to remain competitive, it is important that everyone understand the competition to some degree. While a “C” level person may have a good overview of the competition, they are often not aware of the “detail” information. Those who report to the executive level should be even more aware of competitive information to be able to provide the necessary details.
What are your personal competitive advantages? What do you do better than your counterparts in your current job? In your industry? Compared to workers in general (in and out of your field of expertise)?
I am very well versed in database tools and data analysis. My particular strength is in understanding retailer data systems (Wal-Mart’s RetailLink, Target’s Info Retriever, and so forth). I learn very rapidly and can quickly pick up new systems.
As a company grows, will its competitive advantages change? Have you seen this happen in your place of business? Is this good or bad? Explain your responses.
To an extent, competitive advantages change. As the company grows, it learns. The more experience it gets in the marketplace, the more it knows what works and what doesn’t. The core drivers and the advantages they entered the market with usually do not change. Advantages should improve as the business grows.
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This blog was originally created as part of an assignment to track my MBA journey. Hope you enjoy...
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