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Management Questions - Assignment Example

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Week 6 DQ Response Week 6 DQ Response 1. When an organization invests in its community, it gives back to those who have supported the firm’s growth. Every business house has the primary responsibility to support the struggling classes of the society as they also contribute to the public good…
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Management Assignment Questions
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Download file to see previous pages In addition, volunteer groups and other non-profit organizations also work to support struggling sectors of the community. Such volunteer groups have a crucial role to play in abolishing social class systems and improving living standards of the society. Multinational corporations like Wal-Mart and Toyota allow its employees to take part in volunteer work so as to increase the stature of their business. 2. Simply, a Nichepreneur is an individual who operates big business in a small market. A Nichepreneur has several secrets and strategies, which would place him on the top of the market segment in which he operates. Sometimes, Nichepreneurs do not even try to compete in particular niches as they have already dominated against corporate giants having huge budgets and highly qualified PR teams. An effective tagline is one of the major secrets of success of a Nichepreneur as it is the way a customer identifies the company. In the opinion of marketing experts, the tagline must be too creative and should pass some strong messages to customers. Similarly, a Nichepreneur often focuses on the cultural aspects of the niches as he serves the needs of a specific group of people. According to Friedmann (2008), fewer competitors, higher efficiency, attractive profitability, and increased visibility are some of the most significant benefits of a Nichepreneur. 3. Developing a career plan is significant in an individual’s life, for it will assist him to work for attaining the predetermined goals and thereby to achieve a good standard of living. A well organized long term career development plan is greatly beneficial for an individual to obtain job promotion by enhancing his skills and abilities. In addition, this plan would greatly motivate individuals to deal with life difficulties as well. Moreover, a good long term career development plan may aid an individual to achieve financial security and thereby quality life (Professional growth). When a post-graduate MBA student enters the employment sector, he gets a range of quick start opportunities. Successful completion of the first assigned task may greatly assist the student to start his career outstandingly as every management team would be enthusiastic to monitor the performance of its new employees. In addition, development of a creative idea for a business venture would also assist a post-graduate MBA student to begin his career. 4. Master of Business Administration (MBA) is a post graduate degree that has been accepted globally. The idea behind this degree was derived from the need of applying a scientific approach to business administration. This degree in business administration greatly assists the holder’s career for long-term as an MBA course involves a wide variety of subjects like accounting, finance, marketing, economics, supply chain management, and project management. The MBA degree course includes training programs and it will definitely aid an individual to enhance his leadership skills. In addition, various projects, presentations, and group assignments would greatly assist an individual to acquire different skills for addressing difficult business situations in future. Scholars opine that group assignments and project works may be beneficial for the student to evaluate the principles of teamwork and collaborative effort. Furthermore, this degree ...Download file to see next pagesRead More
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