The Big Five – Five-Factor Model of Personality
This paper examines the Big Five personality factors in dealing with a workplace. It will examine what Big Five traits are and how they are used in a job-selecting process. In addition, this paper will examine if every trait is needed when looking for the right person for the job. We will view my results and why they are accurate and what I possess that makes me strive in my job title.
The Big Five
The Big Five personality traits, in…
that I find important, is the affects that the internet and digital technologies have had on Michael Porter’s five competitive forces.
Porter’s Five Forces that shape strategy includes: the threat on new entrants, the bargaining power of buyers, the bargaining power of suppliers, and the threat of substitutes.
The first force in Porter’s Model is, “The Threat of New Entrants.” This force focuses on “The possibility that the profits of established firms in the industry may be eroded by new…
Michael Porter's Five Forces
In 1979 a professor at Harvard Business School, Michael Porter, published an article in the Harvard Business Review. The article titled "How Competitive Forces Shape Strategy" outlined the five factors that he believed could help determine the profitability of an organization. The five factors being: the power of customers, the power of suppliers, the threat of new entrants, the threat of substitutes, and industry rivalry. He saw these five factors as being the…
advantage, it is crucial for us to use Porter’s five-forces model of industry competition to examine eBay’s external environment forces that are affecting its profitability (Dess et al., 2014, chapter 2). These five forces are as follows:
1. The threat of new entrants
2. The bargaining power of buyers
3. The bargaining power of suppliers
4. The threat of substitute products and services
5. The intensity of rivalry among competitors in an industry
The first force, the threat of new entrants is…
Business exists within an external environment consisting of the actions of other players who are outside the business .In order to characterize the external environment ( the STEEP model ) use five headings of ( Sociological , Technological , Economic ,Environmental and Political ) Factors .
1. Sociological factors:-
Their demographic changes in the age structure of the population and pattern of the works,
Gender roles, the consumption pattern and the ways in which the culture of a country…
5. Technological Properties and Possible Fields of Applications for Belessa Kaolin
To determine the suitability of kaolin deposits for various industrial applications, assessing their technological properties is the key factor. Physical property tests, chemical compositions and crystal morphology are those properties used in order to assess the quality and commercial viability of kaolin. These properties are use related properties and they are industry specific. In…
different explanations from different scholars about how motivation can contribute to a company or an organization success. Among them is Maslow’s Theory of Motivation, one of the most important theories which came up with the opinion that there are five different levels of needs: physiological needs, safety needs, belongingness and social needs esteem needs and finally is self-actualization needs (Maslow, 1954). Maslow starts with the objective that if people are already having something, they…
How does The Ritz-Carlton match up to competitive hotels? What are the key differences?
The Ritz Carlton follows the five servqual dimensions to match up with competitive hotels. The hotel trains employees with high responsibility to help customers and provide prompt service. Secondly, the hotel managers assure knowledge and courtesy of employees. They have ability to convey trust and confidence for their clients. The hotel aims to solve all of customers‘ problems during their stay. Thirdly, the…
2.5 Business Techniques Review
The marketing strategy of OSIM and its effectiveness have been analyzed using following business models.
2.5.1 SWOT Analysis
S.W.O.T analysis is one of the Situational Analysis methods used to evaluate the company’s Strengths, Weakness, Opportunities and Threats. It is also used to identify the external & internal marketing environment of the company. (Kotler,P & Keller, K.L, 2012)
Strengths refer to the company’s competitive advantages, resources and capabilities…
business-level strategy is an integrated and coordinated set of commitments and actions the firms uses to gain a competitive advantage by exploiting core competencies in specific product markets (Volberda, et al., 2011). American academic Michael Porter outlines five business-level strategies that firms can choose from in order to establish and defend their desired strategic position against competitors namely, cost leadership, differentiation, focused cost leadership, focused differentiation…