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DiscussionQuestions:1.Giveanexampleofhierarchicalplanninginanorganization.Answer:Inapastrycompany,presidentmakecorporationgoals,hewantstomakemoneyaboutonemillioninthisyear.Vicepresidentofmarketing,hepointoutthattheywillcapturetheZhengZhoumarket.Vicepresidentofproduction,theirdepartmentwoulddevelopnewproductstomeettheneedsofcustomer.Vicepresidentofhumanresource，theywillhiretwentyemployeesandtrainoldemployees.Also,marketingdepartmentoneisresponsibleforpromotingproduct,marketingdepartmenttwoisresponsibleforpricingstrategyforcustomertowinbusiness.Humanresourcedepartmentoneisresponsibleformanagingdocumentandkeepingcontract,anotherHumanresourcedepartmentisresponsibleforrecruitingstaffsandtrainingworkers.2.Whatarethemaincomponentsofabusinessplan?Describeeachbriefly.Answer:a)Companymissionstatementandcompanydescription.Amissionstatementsumsupthecompany'sobjectives.Acompanydescriptionisadocumentthatoutlinesthehistoryandfutureofthecompany.b)Descriptionofproductsandservices.Describetheproductswhatabusinesssellorbusinessservices.Listsuppliersandcriteriaforselectingtheinventoryyoukeep.Ifthecompanyisaservicebusiness,describetheservices.c)Marketingstrategy.Detailmarketingplan.Thatistosay,throughabusinessanalysestheenvironmentanditsability,itcandecidesomewaystowinthemoremarketshare.d)Financialstatements.Investorsandloanofficerswillwanttoseethat,becausefinancialstatementaffectscorporation’sstateofoperating.e)OperationsandManagementplanning:Describeindetailhowthebusinesswillbeoperated.Includeachartofresponsibilities,andincludetheresumeorhistoryofkeyplayers.3.Howwouldyousetmotivationalgoals?Answer:Firstofall,Iwillsetspecificgoals.ThenIhavedifferenttasksateachphase.Secondly,mygoalsshouldbemeasurable.Forinstance,mygoalsincludetargetdatesordeadlines.Thirdly,mygoalsshouldbechallengingratherthansodifficult.Atlast,Itrymybesttoperformmygoals.Onlysettingagoalisnotnecessary.Mostimportantly,Ifulfillmyresponsibilitytoachievemygoals.4.Whatisthedifferencebetweenastrategy,avision,andamission?Giveoneexampleofeach.Answer:a)Strategyreferstothedirectionandscopeofanorganizationoverthelong-term.Example:Arestaurants’strategyisthattotrainworkersineverydepartmentineffectivecustomerserviceskillssothateverycustomerhasamorepositiveexperienceregardlessofwhomthey’reinteractingwithfromcompany.b)Missionstatementsarethemainobjectivesofanorganization.Atthesametime,usually,itshouldbeshortandeasytomemorize.Example:CompanyMissions:Apastrycompany’smissionisthatkeepinginnovationtoresearchanddevelopnewproducts.c)Vision:Thisiswhatacompanywantstobecome.Visionisaseeingterm.Thereforeavisionstatementshouldbefuture-oriented.It’sanimageofwhatacompanywantstocreate.Example:Acompany’svisionisthatbethesafest,mostcustomer-focusedandsuccessfulcompanyinChina.5.Defineandgiveatleasttwoexamplesofthecostleadershipcompetitivestrategyandthedifferentiationcompetitivestrategy.Answer:a)Inmyopinion,Costleadershipisaboutbeingthelowestcostproducerintheindustry.Example1:Therearemanytechniquesandmethodologythatorganizationscanusetolowercostofproductsandservicesbyloweringdefectsandimprovingquality.Example2:Outsourcingisapopularmethodofreducingsalarycostswhilemaintainingworkforcesizeandproductivity.Outsourcinginvolvesmovingjobsfromacountrywithhigherwagedemandsorweakercompetitiveadvantagestoacountrywithlowercostsormorehighlyskilledworkers.b)DifferentiationStrategyreferstodifferentiatetheproductsorservicesprovidedbythecompany.Theformisuniqueinthescopeofthewholeindustry.Example1:Atoycompanymorefocusedonproductdesignandpositioning.Thecompanydesigndifferenttoysfordifferentchildren.Example2:Asupermarketalwaysansweritscustomer’sneedthroughabenefitsupermarketprovideisthestartingpointofcreatingvalue.Fromherethesupermarketcanbuildtobecomeapartnerbyaligningitselfwiththecustomer’slifestyleandvalues.6.Examplehowhumanresourcemanagementcanbeinstrumentalinhelpingacompanycreatesacompetitiveadvantage?Answer:a)Weknowifanysideofacompanyismoreefficientthanothercompaniesinbetweenasameindustryiscalledcompetitiveadvantage.Competitiveadvantageisrelatedtointernalresourcesofanorganization.b)Ontheotherside,weknowhumanresourceisthemostimportantandmosteffectiveresourceforanyorganization.Humanresourceissomethingthathasnoalternativeforachievingtheorganizationalgoals.Byusingthistooloneorganizationcangainitsgoalsandincreaseitsmarketshares.Itisprovedthathumanresourceisthemosteffectivetooltoachievecompany’sinternalgoals.7.Whatisahigh-performanceworksystem?Provideseveralspecificexamplesofthetypicalcomponentsinahigh-performanceworksystem?Answer:a)Highperformanceworksystementailsgreaterlevelofinvolvement,skilldevelopment,commitment,andcompetenciesofallemployeesregardlessoftheirfunctionorlevelintheorganization.Inotherwords,theyaresimplyworkpracticethatcanbeintroducedinordertoimprovedorganizationalperformance.b)Exampleoftraining:Afinancialcorporationprovidestrainingintermsofperformancemanagementandproblemsolvingordecisionmakingwhereasitwillhelpemployeeimproveworkperformanceandmakingdecisionregardinganyparticularproblems.Exampleofcom