Lower division capstone ip4 - Essay Example

Memo In moving towards an employee empowerment culture, the focus is placed on the correct treatment of employees in terms of the working conditions they are provided with and the pay they receive. The culture of empowering employees takes various forms the most important of which is the education of employees so that they are aware of their rights. While many companies fear that this could spark dissatisfaction in the workforce, the truth is that it would help raise the standards of the company in general.

This area is an important one in the human resource area and requires attention owing to its benefits.Recently, Foxconn Technology Group workers went on strike demanding better working conditions. As a supplier to many blue-chip companies, Foxconn failed in the area of employee empowerment. Instead of a strike which is detrimental to the progress of a company, empowered employees seek negotiations. As the senior manager in such a situation, I would have sought dialogue and not ignored the workers’ grievances.

The other theory in this case would be the alternative dispute resolution theory. This would include the resolution of all issues that come about without a need to seek legal advice or going on strike. The theory of penetration pricing advocates for offering lower prices for given products during their introduction into the market to drive away competition. The benefits of applying this method lay in the aspect of attracting customers away from the competition. If applied correctly, penetration pricing can be a very successful marketing method which could increase a company’s sales volume and market share.

The high sales volume often realized by this method could translate to lower production costs or a higher inventory turnover or both. The application of this theory therefore comes about as a method for entering the market especially when it is almost crowded by similar products by competitors. In the recent past, smartphone company Apple has introduced mobile phones with lower prices to enter the mainstream market. Apple is known for making products that are aimed at the luxurious consumer but had to enter the lower-end market to keep its market share.

If I were the senior manager in this case, I would ensure that the lower-end market remains catered for by the penetration pricing model by increasing the quality of the gadgets offered compared to the competition. Another theory in such a case would be the theory of market segmentation. This theory also advocates for the division of markets with the aim of attracting customers to new products. In conclusion, it can be deduced from the information above that employee empowerment and penetration pricing are important theories in the human resource and marketing areas respectively.

When applied with care, these theories yield a lot of benefits for the company and should thus be highly considered. As shown above, their applications have positive results and improve the company outlook in general. The fact that they can increase the financial standing of the company is another reason as to why their consideration should be given first priority.ReferencesReed H. and Mark B. (2008). Pricing with Confidence: 10 Ways to Stop Leaving Money on the Table. Wiley.Tim S. (2011). Pricing Strategy: Setting Price Levels, Managing Price Discounts and Establishing Price Structures.

Cengage Learning.Dan K. (2011). No B.S. Price Strategy. Entrepreneur Press.Robert D., Michael B., John H. and Cecilia N. (2011). Contextual Pricing: The Death of List Price and the New Market Reality. McGraw-Hill.