Monday, February 17, 2020

MGT 401 Case 5 Leadership and Change Essay Example | Topics and Well Written Essays - 1000 words

MGT 401 Case 5 Leadership and Change - Essay Example Berkshire Hathaway Incorporation is operating in the conglomerate industry since 1955. Since then, the company is thriving and running its successful ventures in the industry. Warren Buffet built an amazing record in the company with his remarkable leadership skills that does not only gave the direction but also ensured that the employees and other staff members are following his direction along him. At the time when Warren Buffet took control of Berkshire Hathaway, the company was only dealing in the textile business, the strategies of savvy deal making by Warren led the company to a great success and converted the textile industry into conglomerate industry in the next 50 years. In recent times, Warren Buffet is looking to convey his succession plan to other eligible members of the company. Undoubtedly, as a CEO, Warren alone with his leadership skills has developed and brought the company to a stage where several minds could think to reach. The company must bring changes in its leadership roles with time after reaching a certain level of success, one succession plan could be helpful and entertaining till a certain period, and then the company has to adopt some changes in its leadership management and its succession plan. Berkshire Hathaway was living on a succession phenomenon where the company was afraid to release a title icon from a seat. It is also a fact that new and fresh minds could bring more succession plans by combining their minds with the experienced mind. Berkshire Hathaway has also implied the same formula for its giant venture (Rothwell, 2010). In my opinion, Berkshire Hathaway has performed an outstanding and remarkable job in the industry. The whole industry and management teams are now in the resonance of the company’s success. It is the right time for Berkshire Hathaway to prepare for the succession. Warren Buffet is now 80 years of age, and his great experience, the internal position holders should adopt strong

Monday, February 3, 2020

Simplified Model of Consumer Behaivor Essay Example | Topics and Well Written Essays - 1250 words

Simplified Model of Consumer Behaivor - Essay Example Under the decision making stage, the consumer behavior may be significantly influenced by a range of psychological factors including motivation, perception, learning, beliefs and attitudes. Those factors play a central role in the process of need recognition. Once a consumer identifies his actual needs, he will begin pre-purchase research so as to gather maximum information about available products in the required category. In addition, he may search for alternatives. In the output phase, the consumer makes a trial purchase and may or may not repeat the purchase based on the post trail purchase evaluation. Recently I purchased a Nokia N8 mobile phone. Certainly, a number of socio-cultural factors and Nokia’s promotional practices have influenced me to take this purchase decision. Firstly, I came to notice a Facebook post depicting extensive features of this cell phone. While I went through the post in detail, I could realize that most of the product features were really useful to my everyday life. When I researched further, most of the online mobile phone review forums strongly recommended me to order for a Nokia N8. In addition, reputed social status that I would obtain from purchasing this costly model also persuaded me to go on with the purchase decision. ... My attitudes and beliefs toward the Nokia brand greatly influenced me to make this purchase decision. Since Nokia is world’s leading mobile manufacturer, I strongly believed that they had adequate expertise and experience to deliver high quality products. Moreover, I thought that Nokia N8 with 12 mega pixel camera would assist me to put off my plan for digital camera purchase. Trade Dress â€Å"Trade dress refers to total image or overall impression created by product’s configuration or packaging, interior and exterior decor, architecture and other promotional materials† (Finnegan, Henderson, Farabow, Garrett and Dunner). In the United States, a product’s trade dress is considered as a form of intellectual property and hence it is legally protected by the Lanham Act. In the country, registrable trade dress elements may include features like â€Å"size, shape, color, texture, graphics, and packaging† (Finnegan, et al). Evidently, the size, shape, and color of a product are major factors that distinguishes the particular product from other similarly products. A product’s texture indicates the font, style, and other characteristics of writing that are used to label name and other details of the product on its cover. The element of graphics plays a notable role in creating the product’s visual appearance and thereby attracting consumer attention. In addition, packaging also contributes to a product’s external look even though the primary intention of this feature is to protect the product from damages. Coca Cola’s 3-dimensional Coke product has a valuable trade dress. The shape and color of this 3-dimensional Coke product