Difference Between Cardinal and Ordinal Utility Approaches

Topics: Olympic Games, Management, Reinforcement Pages: 8 (2390 words) Published: August 20, 2013
Graduate institute of science and management sri lanka.|
Bachelor’s Degree First Year Programme Massey university-NewZeland. | BM.124-Organization and management Assignment 2|
Hasasara Madurasinghe|

course supervisor-linton fernando

1. You have been a very successful civil engineer for ten years and your technical skills are excellent. However you have no management experience. You are being interviewed for a team leader position. The team consists of eight members of three different nationalities and has equal number of men and women. Explain what you would say to the selection panel in relation meeting the challenge of effectively managing a diverse team.

My objective is to form a excellent team and how to manage the team successfully, to achieve our targets.

First I should identify the members of the team, their age,race,ethics,culture and communication skills and educational qualification. Specially I must concern their English knowledge because English is the common language to exchange ideas among the group. Then I have to inquire regarding work experience; where they have work before, whether they have earlier experience in relating to the current project. Expect to group them in to two groups according to their English knowledge skills to consist two men and two women for each group. First I have to clarify the project which I have to complete. Then I have to divide the content of the project in to stages. According to their skills and knowledge I will appoint a leader to each group. The first group must have higher skills than the second group and second group must help to the first group. After that I will inform them about the stages that I have plan according to the project. Then I will obtain their ideas toward my plan. To encourage them I will inform them about the benefits that they will be given if the project succeeded. I will provide them, team needs and accomplishments.

2. Alie Haroum is the owner of a small independent café in Sidney. Her café serve the local inner city are, which has an increasing number of female office workers. She sells high quality European and Middle Eastern food. A large food court has just opened across the street and its lower price is attracting business away from Allie’s café. Assume that you are part of a student team assigned to do a management class project for Allie. Her question for the team is: “How can I apply porter’s business strategies t better deal with my strategic planning challenges in the situation?” how will you reply? Porter’s business strategy means a business can get an advantage over other similar competitors in four ways. Porter’s business strategies are, 1. Differentiation- where the organization’s resources and attention are directed towards distinguishing its products from those of the competition 2. Cost leadership- where the organization’s resources and attention are directed towards minimizing costs to operate more efficiently that the competition. 3. Focused differentiation- where the organization concentrates on one special market segment and tries to offer customers in that segment a unique product. 4. Focused cost leadership- where the organization concentrates on one special market segment and tries in that provider with lowest costs. Firstly Allie should focus on differentiation strategy to attract new customers. There are an increasing number of female office workers in that city; therefore she should make suitable food products to those female workers. Allie should decrease her price of foods, equaling to the other shop by reducing quantity of foods without changing her high quality and to make available take away parcels on their way to office or home. In addition to that she can take orders to deliver foods to their office and home without transport charges....
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