Principles of Management
OER 2019 Edition
ISBN: 9780998625768
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 4, Problem 2CRQ
What are ways to classify and describe how industries and organizations fit and do not fit with their external environments?
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St. Lucia, a small island developing country, the service sector has been dominated by fourcompanies: LightingPros Ltd., Island Solutions Inc., Real Services Co., and EntertainmentEnterprises. Each company offers similar services, including event planning, catering,transportation, equipment rental, and audio-visual production. At present clients engage differentcompanies for specific services, creating a balanced distribution of business across the market.However, recent shifts in client preferences have disrupted this equilibrium. Clients now prefer theconvenience and efficiency of working with a single provider that can offer a comprehensivepackage of services. This has led to a significant decline in business for some companies that areunable to offer the full suite of services on their own. Some of the challenged faces by thecompanies include limited service offerings, client convenience where clients prefer working witha single vendor to simplify communication, reduce costs, and…
St. Lucia, a small island developing country, the service sector has been dominated by fourcompanies: LightingPros Ltd., Island Solutions Inc., Real Services Co., and EntertainmentEnterprises. Each company offers similar services, including event planning, catering,transportation, equipment rental, and audio-visual production. At present clients engage differentcompanies for specific services, creating a balanced distribution of business across the market.However, recent shifts in client preferences have disrupted this equilibrium. Clients now prefer theconvenience and efficiency of working with a single provider that can offer a comprehensivepackage of services. This has led to a significant decline in business for some companies that areunable to offer the full suite of services on their own. Some of the challenged faces by thecompanies include limited service offerings, client convenience where clients prefer working witha single vendor to simplify communication, reduce costs, and…
Chapter 4 Solutions
Principles of Management
Ch. 4.1 - Define the components of the internal and the...Ch. 4.1 - What factors within the economic environment...Ch. 4.1 - Why do demographic shifts and technological...Ch. 4.2 - What factors within the economic environment...Ch. 4.2 - Why do change and shifts and technological...Ch. 4.3 - Why does the matrix structure have a dual chain of...Ch. 4.3 - How does a matrix structure increase power...Ch. 4.3 - What are advantages of a formal committee...Ch. 4.4 - Identify the six major organizational structures.Ch. 4.4 - Explain the McKinsey 7-S model.
Ch. 4.5 - How can employee diversity give a company a...Ch. 4.5 - Explain the concept of hiring for fit as it...Ch. 4.5 - What are some organizational issues that must be...Ch. 4 - Explain how several current environmental forces...Ch. 4 - What are ways to classify and describe how...Ch. 4 - What are a few industries and/or organizations...Ch. 4 - What are some major differences between organic...Ch. 4 - Which organization would you work best in, an...Ch. 4 - What are some advantages and disadvantages of...Ch. 4 - Do you think its true that every organization has...Ch. 4 - Why have functional structures been criticized for...Ch. 4 - What are some advantages and disadvantages of...Ch. 4 - How is a product structure one type of a...Ch. 4 - What are some disadvantages in working in a matrix...Ch. 4 - What advantages do matrix structures have compared...Ch. 4 - What advantages do geographic structures have...Ch. 4 - What are issues that working in a networked team...Ch. 4 - In what ways is a virtual organization and...Ch. 4 - What major trends discussed at the end of this...Ch. 4 - What purposes does an organizations culture serve...Ch. 4 - How does Exhibit 4.16 facilitate an understanding...Ch. 4 - What happened at Wells Fargo with regard to past...Ch. 4 - What internal dimensions of the company were part...Ch. 4 - How might the organizational structure of the...Ch. 4 - Identify and use relevant concepts from this...Ch. 4 - Suggest some solution paths the company might...
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