Senior Manager Employing Theories in Specific Situations
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Your manager believes in learning from other companies' success stories as well as stories of failure. In particular, she likes to apply various management theories when possible, rather than starting from the beginning every time a decision has to be made. She asks you to write a memo to her addressing the following:
From any recent or current event in the news, discuss and explain the use of these two specific theories that the firms you researched believed in
In the human resource area, moving toward an employee empowerment culture
In the marketing area, the theory of penetration pricing
For each of these two, explain the following:
The issue being addressed that gave rise to employing these theories
How the theory being followed leads to specific actions on the part of the company
Results achieved
If you had been the senior manager in these situations, at those companies, how might you have addressed the situation any differently? What other theory could have been the basis for the decision.
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Solution Summary
The solution discusses what you would do as a senior manager when employing theories in specific situations.
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MEMORANDUM
Date: October 28, 2011
Subject: Employee Empowerment Culture and Penetration pricing
To: The Manager From:
Introduction:
As requested, the success stories as well as stories of failure of Toyota and Extraspace Storage Companies have been investigated. The focus of this investigation is to explain the use of the theories of moving toward an employee empowerment culture and penetration pricing in these two companies and how it will help this company to employ these management theories.
The use of the theories of moving toward an employee empowerment culture and penetration pricing by Toyota and Extraspace Storage:
The success story of Toyota Company is the availability of an effective and efficient human resources management system which is due to the commitment to quality and a high level of employee satisfaction. Toyota empowers its employees by fostering creativity, innovation, and continuous improvement (Kotelnikov, 2001). It does so by encouraging high levels of employee loyalty and satisfaction. Toyota has institutionalized successful workforce practices since it knows that a workplace with job satisfaction and high morale is likely to produce high quality and reliable products at affordable prices Toyota uses penetration pricing one of its products called the Prius because as prices decline, the quantity of cars bought will increase because the demand for hybrid cars is elastic. They believe that the car will gain mass appeal faster (Gutsa, 2009).
The Extraspace storage company came up with ...
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