Thinkertoys Week 4 - Essay Example

THINKERTOYS (Assignment Week IV) Michael Michalko lays stress upon taking multiple solutions of one problem into account so that alternative policies could be applied and exercised at the precarious situation, disaster, crisis or calamity. He cites two different companies in the sixteenth chapter of his book Thinkertoys, where the company named Exxon stuck its strategy to one single solution at the eve of crisis, and consequently lost its entire commercial gains and turned out to be the example of poor planning and complete fiasco.

On the contrary, Shell Oil Company devised its strategic plan in such a way, during the mid-1970s oil crises, that it had multiple alternatives to opt while undergoing the crises. By dint of a comprehensive and thoughtful planning, the company jumped from seventh position to second position in the market. Michalko has defined steps to be applied by a company in order to turn out successful even at the most unfavorable situation. The same is being adopted by the researcher in the present research, which is as following: Since I tend to start my own consultancy, after completing my graduation in business administration, in order to provide the young people with counseling regarding career selection, I plan the following possible scenario for starting my career:I will start my consultancy at the heart of the city, where commercial activities are at boom; so that I could capture the attention of the visiting clients too along with the clientele out of my personal relationship.

In case I find difficulty in finding out possible clientele, I will shift my office from commercial zone to the area adjacent to the colleges and universities, so that fresh graduates and students could discover a career counseling consultancy in their area. I will also examine the market scenario and will assess whether I am working under perfect competition or monopolistic competition. I will revise my business strategy time and again on the foundation of business environment.I will keep the possibility of shifting my skills and activities to some other relevant work in case I do not obtain any success in career counseling profession.

Since business administration degree provides its graduates with the opportunity of working in numerous fields, I may start working in the fields of real estate, advertising, marketing and others. Since I strongly believe in hard work and honesty, I will never escape from my duties and obligations towards others. I will work diligently for the promotion of my business as well as obtaining dexterity in my skills and abilities. I will not confined my thinking to myself alone; rather, I will consult the specialists, professionals and experts regarding my thoughts and ideas, so that I could be able to acquire best possible pieces of advice regarding my professional adventures and plans.

It is fact beyond reality that I have limited assets to invest for my business in future, I will not take great risks at the commencement of my business. On the contrary, I will allocate minimum possible money in business and will focus on my intangible assets including strong PR, sound reputation, best capabilities and professional skills, which will support me earning sound fame as a professional. I will prepare a team consists of loyal, committed and devoted professionals, which will help me exercise my plans in a highly refined way.

In addition, our team will revise its strategies keeping in mind the political, economic, social, technological, legal and environmental scenario of the commercial region where we are to start our business activities. Hence, we will enter into brainstorming on the foundations of the principles introduced by Michael Michalko, so that we could be able to get involved into creative thinking like this great thinker and philosopher. REFERENCES:Michalko, Michael. Thinkertoys. Berkeley: Ten Speed Press, 2006 150-155