Business in Action (8th Edition)
8th Edition
ISBN: 9780134129952
Author: Courtland L. Bovee, John V. Thill
Publisher: PEARSON
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Question
Chapter 7, Problem 1CTQ
Summary Introduction
Case summary:
The CEO of Company W is Person W whose mission is believing its employees as it will lead to the customer’s belief on the company. He says that the employees are the first asset of the company. Meeting the needs of the employees will satisfy the needs of the customers. The company concerns its employees by way of providing scholarships, financial assistance, investments for employees for their future.
The company made a strong emotional bond with its employees as it paved a way for employees to work with full involvement. This made them to enjoy their work which leads to less than 5% of employee’s turnover comparatively very lower than the other companies.
It uses the style of laissez-faire management.
Thus, the mission of Company W is to serve best to the customers and also the employees.
Laissez-faire leadership styles is where the leaders act as a consultant and encourage its employees empowerment, giving freedom to take decision, and motivating the ideas of employees.
Characters in the case:
- Company W
- Person W
To discuss: Whether Company W will attain the same successful if its CEO comes from outside its family members.
Expert Solution & Answer
Explanation of Solution
According to Person X, any CEO from outside or inside the family can attain the similar successful if they continue to follow the laissez-faire management and following its traditional techniques of giving priority to the employees.
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Chapter 7 Solutions
Business in Action (8th Edition)
Ch. 7.1 - Prob. 1CTCh. 7.1 - Prob. 2CTCh. 7.1 - Prob. 1IYBCh. 7.1 - Prob. 2IYBCh. 7.2 - Prob. 1CTCh. 7.2 - Prob. 2CTCh. 7.2 - Prob. 1IYBCh. 7.2 - Prob. 2IYBCh. 7.3 - Prob. 1CTCh. 7.3 - Prob. 2CT
Ch. 7.3 - Prob. 1IYBCh. 7.3 - Prob. 2IYBCh. 7.4 - Prob. 1CTCh. 7.4 - Prob. 2CTCh. 7.4 - Prob. 1IYBCh. 7.4 - Prob. 2IYBCh. 7.5 - Prob. 1CTCh. 7.5 - Prob. 2CTCh. 7.5 - Prob. 1IYBCh. 7.5 - Prob. 2IYBCh. 7.6 - Prob. 1CTCh. 7.6 - Prob. 2CTCh. 7.6 - Prob. 1IYBCh. 7.6 - Prob. 2IYBCh. 7 - Prob. 1CTQCh. 7 - Prob. 2CTQCh. 7 - Prob. 3CTQCh. 7 - Prob. 4QRCh. 7 - Prob. 5QRCh. 7 - Prob. 6QRCh. 7 - Prob. 7QRCh. 7 - Prob. 8QRCh. 7 - Prob. 9QACh. 7 - Prob. 10QACh. 7 - Prob. 11QACh. 7 - Prob. 12QACh. 7 - Prob. 13QACh. 7 - Prob. 14QAPCh. 7 - Prob. 15QAPCh. 7 - Prob. 16QAPCh. 7 - Prob. 17QAPCh. 7 - Prob. 18DCOCh. 7 - Prob. 19DCOCh. 7 - Prob. 20DCOCh. 7 - Prob. 1BTSCh. 7 - Prob. 21DRSCh. 7 - Prob. 22DRSCh. 7 - Prob. 23DRS
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