Principles of Management
OER 2019 Edition
ISBN: 9780998625768
Author: OpenStax
Publisher: OpenStax College
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Chapter 7.2, Problem 1CC
Describe the personality traits and skills characteristic of successful entrepreneurs.
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For PurrTech’s expansion into Germany, I’ve decided to use a polycentric staffing approach—meaning we’ll hire German professionals to run our operations there. I believe this is the most respectful and effective choice. After all, no one knows how to do business in Germany better than those who live and work there. I want to build something that fits the local culture, not just transplant our way of doing things. Germany is home to a highly skilled and well-educated workforce, especially in technical fields. Their strong focus on vocational training and quality makes this a great opportunity to learn and grow alongside our team there. By working with local talent, we can adapt our products and operations to meet the expectations of German consumers and regulators without missing a beat. When it comes to hiring for leadership roles, my top priority is finding people who combine a solid understanding of local laws and regulations with a forward-thinking, solution-focused mindset. I’m…
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The cultural nuances and education levels in Italy for our new operations, a hybrid staffing approach leaning towards a regiocentric model is most strategic. While initially, a few key global-strategy-aligned individuals might be placed in top leadership an ethnocentric element the primary focus will be on recruiting Italian talent for managerial, administrative, and plant worker roles. Italian managers bring invaluable local market understanding and cultural intelligence crucial for navigating business practices and building relationships. A well-educated local workforce is available for administrative tasks, ensuring smooth daily operations. For plant workers, local hiring is practical and fosters community goodwill. However, my paramount hiring requirement across all levels is adaptability, a growth mindset, and particularly, cultural intelligence. Success in Italy demands individuals who can not only perform their duties but also navigate the…
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A hybrid staffing approach would be the most effective for Nike's expansion into China. This approach allows for Nike to place local professionals in China in key roles, which respect local customs, cultural norms and consumer preferences. Also, it ensures Nike maintains its global standards, innovation mindset and unified brand culture across markets.
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Chapter 7 Solutions
Principles of Management
Ch. 7.1 - What do you think enabled Jack Bonneau to start...Ch. 7.1 - What personal characteristics and values will Jack...Ch. 7.1 - Describe several types of entrepreneurs.Ch. 7.1 - What differentiates an entrepreneur from a...Ch. 7.1 - What are some major factors that motivate...Ch. 7.2 - What type of entrepreneur is Apollonia PoilĂ¢ne?Ch. 7.2 - What personal ethics drove Apollonias decision to...Ch. 7.2 - Describe the personality traits and skills...Ch. 7.2 - What does it mean when we say that an entrepreneur...Ch. 7.3 - What are three ways small businesses can be...
Ch. 7.3 - What social and economic factors have prompted the...Ch. 7.4 - How can potential business owners find new...Ch. 7.4 - Why is it important to develop a business plan?...Ch. 7.4 - What financing options do small-business owners...Ch. 7.5 - What led MailChimps founders to change its focus...Ch. 7.5 - What was MailChimps big idea that changed the...Ch. 7.5 - How does the small-business owners role change...Ch. 7.5 - How does managing a small business contribute to...Ch. 7.5 - What are the benefits to small firms of doing...Ch. 7.6 - Why are small businesses becoming so popular?Ch. 7.6 - Discuss the major advantages and disadvantages of...Ch. 7.7 - What is the Small Business Administration (SBA)?Ch. 7.7 - Describe the financial and management assistance...Ch. 7.8 - What significant trends are occurring in the...Ch. 7.8 - How is entrepreneurial diversity impacting small...Ch. 7.8 - How do ethics impact decision-making with...Ch. 7 - What are the differences between classic,...Ch. 7 - What differentiates an entrepreneur from a...Ch. 7 - What are some major factors that motivate...Ch. 7 - How can potential business owners find new...Ch. 7 - Why is it important to develop a business plan?...Ch. 7 - What financing options do small-business owners...Ch. 7 - How do the small-business owners and entrepreneurs...Ch. 7 - What are the benefits to small firms of doing...Ch. 7 - Describe the financial and management assistance...Ch. 7 - What significant trends are occurring in the...Ch. 7 - How is entrepreneurial diversity impacting small...Ch. 7 - How do ethics impact decision-making with...Ch. 7 - What characteristics made Vic Ahmed a successful...Ch. 7 - How did their Ahmed and Steven Cases partnership...Ch. 7 - Is focusing on smaller cities rather than areas...
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