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was a phrase introduced by John Elkington in 1994. To chose a market segment is to chose the right life partner for your business. There are four Approaches to Market segmentation and to choose a market segment. When you can use this When discussing the power and influence of stakeholders, how stakeholders may affect decision making and how managers may treat different groups you might want to consider: the factors that affect the power and influence of different stakeholder groups how. Role culture More formalised culture with jobs having clear rules and procedures.
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May occur in small businesses where the founder dominates; may come under stress if a business grows and cannot all be run from the centre. Model/theory The model looks at the business from the point of four different perspectives; each one should be assessed using quantifiable data: financial perspective customer perspective internal business process perspective learning and growth perspective. Overview, a model that highlights the range of different management styles that may be adopted ranging from a 'tell' approach to one that involves delegation. Net Gain of launching new product.2m -.2m. The probability shows the estimated likelihood of a given outcome. Individuals know their position within the hierarchy. A major benefit when you choose a mass market segment is that there is good Economies of scale. Change may be brought about if the forces for change increase (eg due to more competitors, worsening results, more customer complaints) or less restraining forces (eg funds become less of an issue, employees understand the need for change more). The dimensions he identified were: Individual and collectivism (IDV) This considers the extent to which individuals believe they should look after themselves rather than be team players. Crisis 2 At this stage the senior team may delegate more enabling each unit to focus more on its specific demands (although this is often resisted by senior managers who are reluctant to let go). Crisis 1 At some point there is a need for direction and leadership which may not come naturally to those who founded the business and who are perhaps very entrepreneurial. The business will end up in a state of flux, ie managers are uncertain what to do as they have fallen so far behind the trends in the market.