Principles of Management
Principles of Management
OER 2019 Edition
ISBN: 9780998625768
Author: OpenStax
Publisher: OpenStax College
Textbook Question
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Chapter 7.5, Problem 1CTQ

What led MailChimp’s founders to change its focus on the customers they were selling to?

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You are the newly appointed CEO of TechSouth, a South African multinational technology company based in Cape Town. TechSouth specialises in manufacturing smartphones, laptops, and smart home devices. The company has a significant presence in the African market and has recently expanded into Europe and Asia. However, TechSouth is facing several critical challenges:· Declining Market Share - Over the past three years, TechSouth has lost considerable market share to both localcompetitors and international giants like Samsung and Apple. The company's products are perceived as outdated and lacking innovation.· Employee Engagement Issues - Recent employee surveys indicate low morale and engagement levels, particularly among the younger workforce, leading to high turnover rates. Many employees feel disconnected from the company's vision and mission.· Siloed Departments - The organizational structure at TechSouth is highly siloed, with departments operatingindependently rather than…
You are the newly appointed CEO of TechSouth, a South African multinational technology company based in Cape Town. TechSouth specialises in manufacturing smartphones, laptops, and smart home devices. The company has a significant presence in the African market and has recently expanded into Europe and Asia. However, TechSouth is facing several critical challenges:· Declining Market Share - Over the past three years, TechSouth has lost considerable market share to both localcompetitors and international giants like Samsung and Apple. The company's products are perceived as outdated and lacking innovation.· Employee Engagement Issues - Recent employee surveys indicate low morale and engagement levels, particularly among the younger workforce, leading to high turnover rates. Many employees feel disconnected from the company's vision and mission.· Siloed Departments - The organizational structure at TechSouth is highly siloed, with departments operatingindependently rather than…
Provide an introduction that is brief, entertaining, and clearly communicates the project's aim. It should succinctly summarise the scenario and significant problems, describe the strategy used to answer the issue, and offer context for the project. The project's goal should be articulated clearly to attract the reader's attention.

Chapter 7 Solutions

Principles of Management

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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