When I apply my skills and knowledge by studying and doing the intellipath that help me to gain information for my individual project for units 5. The Discussion Board give me the abilities to posted a report every Friday and exchange views on my colleages posting. Giving feedbacks and receiving feedbacks from your peers is a plus.
Competencies are observable, measureable patterns of skills, knowledge, abilities, behaviors and other characteristics that an individual needs to perform work roles or occupational funstions successfully. Performance management competencies that all supervisor (and team leaders) should develop and demonstrate include: Communicating.
Analyze how your strategic marketing plan fits with your mission statement and goals and what type of target audience would your pricing objectives.
Any company should know that it cannot service all consumers in the total market – at least not profitability and in the same way. The variety of different kinds of consumers and their needs is simply to large. There are too many differing types of customers, characteristics, needs, wants, and behaviors. Also, most companies can serve some segments better than other, because there is a greater fit between teh company’s strengths and the segment’s opportunties.
After having distinguisted between the seperate segments in a market, the company can select one or more of the segments to enter. Before doing this blindly, each segment should be assessed. Therefore targeting is concerned with evaluating each segment’s attractiveness for the company and selecting one or more segments to enter. The evalution of segment is based on the question ehich segment the company can serve best.
Now that we know which segments there are in the markets and having chosen one or more to serve, we have to decide on the how.
The intellipath is a recommendations that is like the summary of all did for information for your individual project 5.
Shareholders vs stakeholders wealth maximization as a sole objective resembles the first situation which is not practical and possible whereas the stakeholder’s including shareholders welfare resembles the second situation which is natural and healthier. Growth and development of a business have a number or requirements and not only the money.
A shareholder is someone who owns a financial share (equity stock) in the company and this has an ownership share in the company. A stakeholder is somsone who has an interest inthe company’s performance for reasons other than just capital appreciation due to an increase in the stock price.
Stakeholder’s welfare is a superior corporate goal over shareholder’s wealth maximization. Stakeholders welfare looks after all the factors responsible for its success whereas the ealth maximization as an objective over emphasis the important of money provider i,e shareholders.
There has been a lot i=of debate on the shareholders vs stakeholders and on who of the two set of prople be given more importance. Let us first have a look at the major differentiating factors between sharehloders and staheholders.
The shareholders make profits in term of dividend and capital appreciation if the companies make profits and the pricing its share of the index increases. on the other hand, if compare make a loss the same gets affected negatively by the share price and the returns that shareholders are also affected. Stakeholders are people who have an interest in the company ethier directly oe indirectly. One can say that all shareholders re stakeholders but not all stakeholders may be the shareholders of the country.
The shareholders want company to undertake activities that have positive effect on stock price or increase etc. Stakeholders focus on long-term longevity apart from the financial performance.
Shareholders may want the company to focus on improving the financial performance. Stakeholders want to incur expenditure that increases their value but doesn’t necessarily add to start term profitability.
Shareholder’s wealth maximization is a well-accepted corporate objective in almost whole the world barring a few exceptions, indisputably it is a superior and healthier goal compared to profit maximization which was lacking a long-term perspective. Hence, a stakeholder’s welfare is evolving as a further improved and wider corporate objective.
Here is our final discussion board,
What competencies were you able to develop in researching and writing the course Comprehensive Project? How did you leverage knowledge gained in the intellipath assignments (Units 1- 4) in completing the Comprehensive Project? How will these competencies and knowledge support your career advancement in management?
Reading some of my classmates posts this quarter have helped make me a better writer, I looked at the writing style of some of my classmates at the thought, “Yes that is a better way to say that” I have always believed that I do not know everything and appreciate every little bit of knowledge I can obtain.
Some of the intellipath subjects were a little difficult and took some extra effort to complete, but I think with the notes that I have taken from the intellipath I will find something that I can use in my Unit 5 project.
My long-term goal is to Have my own consulting firm and the more I learn, the more confidence I gain that I will be able to run a successful business.
Discuss the similarities and differences between shareholder wealth maximization and stakeholder wealth maximization.
When looking at stakeholder and shareholder wealth maximization, there are many similarities. Stakeholder wealth maximization is a corporate goal. A stakeholder is responsible for the corporation as a whole and is responsible for its success. Employees, creditors, customers, suppliers, and anyone who may be affected by the business, is a stakeholder.
In shareholder wealth maximization, the shareholder looks at the success of the corporation as their own financial success. Shareholders are the owners of the company. Shareholders are affected by the monetary performance of the organization.
What competencies were you able to develop in researching and writing the course Comprehensive Project?
Maybe the key area where I was able to learn the most is understanding global financial systems, differences in the way we do business compared to Europe. I learned a lot about structural differences. Dare I say I also learned a lot from my classmates. Reading their posts and getting insides to their thoughts is so valuable. I would also like to add here: being able to adapt, understanding differences and relationships of parties involved.
How did you leverage knowledge gained in the Intellipath assignments (Units 1- 4) in completing the Comprehensive Project?
I think we all would have to agree that Intellipath is both an amazing platform as well as a great resource. Especially for Global Financial Management, I was able to gain so much knowledge. Some of the things that stood out for me are:
When we deal with different countries and even different continents, we need to be fully aware of those differences and their implications on the business we are in.
There is more than meets the eye. It would be very easy for us in the United States to have the attitude that because of how big our country is and how strong our economy is to forget that this could be true for other countries as well. Granted on their own, many countries in the European Union are not that big, but as a whole, they represent a strong business partner.
When we take it a step further, this translates to opportunities. When we can create partnerships and are able to get a foothold within Europe, many doors can open and trade can happen.
All of this has in return prepared me very well for the class project. I gained many insights that I can now implement. I am putting on the final touches and look forward to submitting the final product!
How will these competencies and knowledge support your career advancement in management?
I suppose time will tell. Part of the reason why I am taking this MBA is the learning, the other part is: I want to take the next step in my career. Getting to the management level within US Bank might look like a lofty goal, but we are also a company that recognizes both talent and hard work. This course is helping me on many fronts, growing my personal portfolio through building relationships, and especially for growing confidence. I now can better explain difficult concepts and therefore add value to conversations. Thank you for that!
Competencies and Knowledge
Throughout the research, I have been able to develop competence relating to multinational business operations, managerial functions and the role of stakeholders. Operating businesses internationally attracts high risks and challenges, with require the organizational leaders to develop the necessary competence, for them to be successful in managing the businesses. Failure to manage the businesses appropriately, presents the risk of business failure. All organizational stakeholders have to work in hand with each other, to facilitate realization of the intended goals. Developing appropriate managerial competence by managers is not an option, but a compulsory. Units 1 up to 4 up have been discussing about the course objectives, and I have been able to identify a string relationship among the objectives, considering that they all aim at ensuring effective management of international businesses. All those course objectives form the basis of completing the comprehensive project, as they provide the required content.
The developed competencies and knowledge are crucial in career advancement, within the management field. Have learned about them, I am planning to ensure that I have used them positively, to enhance my managerial skills and expertise. I have been able to learn what is required to be an effective manager, and the challenges that managers go through, especially when managing multinational companies. I will work towards developing the most appropriate knowledge and skills, to be a competent manager. Shareholder wealth maximization focuses on growing the wealth of the business owners. The shareholders sacrifice resources to the organization, and expect them to generate returns. Stakeholder wealth maximization is concerned with meeting the needs of individuals who have interest in the company. The similarity between the two is that the business must be profitable, for their interests to be met appropriately (Lund, 2020).