Management Analysis - Assignment Example

MANAGEMENT REPORT by Student’s name Code+ course name Professor’s name University name City, State Date Question 1 a. Openness to experience Blake Mycoskie started his fifth business of selling shoes that eventually blossomed to TOMS after appreciating that shoes could be bought by many Americans. The business of selling shoes was as a result of his being adventurous in business after his trip to Argentina. While in Argentina, he realized that there were a big number of people wore alpargatas. He was very curious to the extent that he felt that America was a ready market. He is also endowed with unusual ideas as evidenced in how he puts on two different shoes as a way of attracting public attention. He is also creative to the extent of running a focus group that is meant to market his shoes whenever his friends purchase shoes from him. His creativity made him team up with a local partner, situated in Argentina, with whom they came up with a prototype. He is also emotional to the extent of being philanthropic to the unprivileged people (Matthews et al. 2003). b. Conscientiousness His activities are well organized and this has made the business to expand tremendously. He made a brilliant idea of not giving up on marketing his brand. Majority of local stalls kept on trying to demoralize him, however, he did not give up but progressed on to look for potential customers within and without Los Angeles. His efficiency in marketing made him be get a tremendous break through after the American Rag accepted his request of selling the TOMS. He also effectively managed to have the LA Times run his personal story in their newspapers. He is excellent in being organized in whatever he does while running his business. Though he is philanthropic, he is not careless, but careful not to plunge the business into bankruptcy. He is self-disciplined since nobody supervises him. He acts dutifully to the extent that he developed a significant supply chain of the TOMS shoes in about 60 countries. His activities are well-planned and not spontaneous ones. He ensures that he makes effective arrangements with clients, suppliers, workers with minimal chaos. His ability of multitasking has made him, effectively, handle various logical issues within the business (Poropat 2009). c. Extraversion: He is strong-willed amid the challenges that befall him while running his business. He has positive emotions, as evidenced when he tries to market his brand to people who are not willing to make a contract with him. He is energetic throughout his business venture since he is the one who comes up with the various marketing tactics that are, in most cases, demanding a lot of resources from the company. He devises various ways in which he can use philanthropic activities in marketing his brand to various countries of the world. He is also exhibiting the attribute of being social while running his business. He saw the significance of teamwork and thus had to look for a partner in Argentina and look work with the interns. He has positive emotions even when dealing with people who are discouraging his efforts (Schacter 2011). d. Agreeableness He portrays a habit of compassion through his philanthropic actions. He has been able to offer TOMS shoes to various people worldwide and that has eventually made his brand known world over. He is also cooperative with his team. He is not portrayed as somebody who is antagonistic despite the challenges that came by his way while pushing the brand into the community that has diverse opinions regarding the brand (Atkinson 2000). e. Neuroticism He has a significant degree of emotional stability as well as impulse control. Though he faces various challenges while running the business, he is emotionally stable. He is sensitive towards the community that is around him and his reactions have helped in propelling his company. He also shows attributes of being sensitive by the facts that he likes narrating the history of his business. He is sensitive that he only shares his story with only those interested in the story (Schacter 2011). Question 2 The greatest traits of effective leadership that has helped Blake Mycoskie have TOMS become a multimillion company is openness to experience. He managed to start selling the TOMS shoes following his appreciation on the fact that there was a ready market in America. His traits of being adventurous made him start importing shoes from Argentina to America. While in a trip to Argentina, he noted that the alpargatas were being worn by many people in Argentina. He was open minded and thus got the idea that there is a possibility of having a good number of people, living in America, developing interest in the imported shoes. It is as a result of his open mindedness that he developing curiosity of selling these shoes to the Americans living within and without Los Angeles. He devises unique ways of creating public awareness by telling the story of his business to as many people as possible. He goes ahead and starts running a focus group, mainly constituted of his friends, with the aim of marketing his shoes through the sales made to his friends. He was creative enough to look for a business supplier who was situated in Argentina. His inability to communicate in Spanish, made him make the decision of teaming up with a person who knew Spanish language. He made the supplier a local partner, in Argentina. He worked together with the supplier and eventually came up with a prototype that earned them a fortune. He has been portrayed as a business man who, despite the fact he looks for a ways of making more money, he is also emotional to the less privileged people. He came up with various schemes that were meant to be philanthropic while marketing the brand globally. He is also took advantage of Craigslist where he came across interns who have worked with him ever since and the company he been showing a tremendous growth. He started the business from his apartments under a shoestring budget. He managed to work optimally using little finance to yield competitive services to the clients (McCrae and Terracciano 2005). Question 3 Blake perceives that a successful life is more than ones status and monetary gains. He argues that success should be driven by the passion of making substantial contribution to the community while working on personal terms. This seems to be his main driving force throughout his business career. He gets into the business of selling shoes with the aim of helping the many poor people who are unable to afford shoes and are suffering from blisters, infections and sores. He exhibits his passion of serving the community when he decides to expand his social entrepreneurship operation when he authored the book Start Something That Matters. The main motive of Blake, while writing this book, is inspiring other people to join hands in making relevant contributions to the world. By inspiring others to contribute to the world, the world would be transformed. He also goes ahead to TOMS Eyewear, which offers help and restoration of the sight of the needy people. He has also started the Giving Partners that is meant to increase the charity works. The Giving partners has given a lot of funds to various no-profit making organizations. He also started the Start Something That Matters foundation meant to help innovators make their dreams come true. This idea of starting the foundation shows that he is not self-centered and his willingness to help even the youths who might have business ideas but lack proper guidance on how to make them practical amid the challenges. These acts of kindness have made his business expand globally and eventually made him make more money with time. Question 4 Blake has LMP attributes based on the way he runs his businesses. Possess various leadership traits that are of great significance in the progress of his business. 1. He is emotionally intelligent He knows how to handle harsh situations that might make him be emotional. He is much prepared, whenever marketing his business, which he is going to face many people who will be challenging his business idea. This is evident when he tries to convince some retailers to buy the shoes from him and only to have them turn his offer down. He does not get demotivated but moves on looking only for those willing to listen to his story. This trait has enabled him to be able to handle the different complains that come from various clients, all over the world, amicably (Eleni et al. 2005). 2. He is flexible Blake is ever willing to learn new ideas that could be of help in his business career. Whenever he heads to any place, he takes it as a learning opportunity. It is during his trip to Argentina that the concept of TOMS was conceived. Though TOMS was doing very well globally, Blake had the curiosity of extending a helping hand to the needy people around the world. His flexibility has made his businesses to expand globally (Eleni et al. 2005). 3. He is Sensitive Blake is cautious not to find himself at loggerheads with others for no good reason. He understands his workers and has cultivated teamwork in TOMS. He has a good communications skills such that he minimizes instances of demotivating the workers through his carefully chosen communication approach. He is people centered to the extent that he values being of help to the needy rather than being financially stable. He starts projects that are not only financially beneficial to him but also beneficial to the needy community (Eleni et al. 2005). Question 5 His ideal self-concept has made his business career a success. Blake relentlessly tires to be a man who is of great importance to the international community. He is driven by the passion of offering help to the needy people throughout the world. He ventures in various charity work projects with the aim of helping the community around him. Whenever Blake gave his money, time and strength for the community projects that matter, he significantly enhanced his personal contentment and improves the world around him. Through his perception of being of help to the community, he offers his resources to the needy globally. This has made his brand be recognized globally and accepted by many retailers and as a result made the business expand globally. He also wants to have a better life, a life that is full of self-satisfaction. He values self-determination and thus has himself busy in his business activities. He is constantly looking for opportunities that will make his business expand throughout the world. He devises unique ways of marketing the brand such as telling his story while wearing different pair of shoes to the community. This approach, of wearing different pairs of shoes, has always caught the attention of the audience and he has managed to market his brand to them. He is strong-willed amid challenges, especially the business people who try discouraging his business venture. He has learnt the skill of only focusing on those who are willing to listen to his story. This has eventually increased his market share throughout America (Myers 2009). Question 6 a. Informational Roles 1. Monitoring He is constantly seeking for the relevant information that would be of help in expanding TOMS. He looks for ways of increasing his network with the relevant people so as to come up with the relevant information for the TOMS. He reads and scans trade press so as to come up with the strategies that would help market his brand. He also maintains personal contacts of all those he meets, especially those who might be of help to his business. These contacts help him in getting relevant information that could help in propelling his business further. 2. Dissemination He effectively communicates and disseminates information to his team within TOMS. It through his effective means of communication that his team has been working with unity and eventually made TOMS a success. He sends memos and reports updating the team on various issues within the business. He informs his subordinates of his decisions regarding the business. 3. Spokesperson He has an excellent skill of communicating and transmitting relevant information to the outside world. He participates in conferences and meetings with the aim of marketing his brand to the outside world. He is the one who does majority of the marketing and devises unique methods of seeking public attention so as to make them cognizant of the brand b. Decisional Roles 1. Entrepreneur He identifies new ideas ad instantly initiates the improvement of the current projects in the TOMS. He implements innovations while planning for the future of TOMS 2. Disturbance handler He has learnt how to deal with disputes and has the ability of taking corrective actions. He is capable of settling any differences between the subordinates. He is able to overcome problems that arise within the TOMS. 3. Negotiator He defends TOMS from the external pressure. He participates in directing negotiations within his team with the aim of achieving the set targets. 4. Resource allocator However Blake is a philanthropist, he has the ability of striking the balance between what it allocated for the charitable activities and those meant to remain for the TOMS. He is conversant on where to apply his resources. He drafts and approves of the plans, finances and schedules of TOMS. He has the ability of setting the priorities of TOMS right. c. Interpersonal Roles 1. Liaison Blake establishes and maintains contacts inside an outside TOMS. He participates in meetings with representatives from other organizations so as to enhance his business network. It is from these business correspondence that he also learns new ideas on what could help him make the future of TOMS more promising. 2. Figurehead He performs social and legal responsibilities by acting as a symbolic leader. When he was starting the business, he was the only one who did all the tasks that were to be done in the business. He had the task of greeting visitors, signing legal documents, attending ribbon cutting ceremonials, hosting receptions. However, though he has delegated duties to his team, he occasionally attends to these tasks whenever he is available. He values the business ideas he gets from his team and that has helped propel TOMS to its current international market share (Maw 2008). 3. Leader He directs and motivates his team for a common goal. He is a visionary leader who has managed to influence his team into achieving the set goals for TOMS. Question 7 Blake is ethical in his business since he knows how to interact with people causing minimal friction between himself and them. He also values humanity through his acts of philanthropy. He has set up various schemes meant to help the needy people by issuing shoes to them as well as free eye medication services. Blake is in Level 3 (Post-conventional Morality) of moral development. He accounts for the different values, views, and philosophies of other individuals. He has learned to accept the diverse perception of people in regard to his marketing of TOMS. Even if people discourage his efforts about the business, he does not relent but soldiers on bearing in mind that not all people will buy his idea of the TOMS. He has also learnt that majority of people are enticed by other’s stories and thus, he formulated his own story that could attract attention of many. He tells this story to whoever is interested in listening to his story. Blake’s moral thinking is based upon general ethical philosophies and intellectual reasoning. Blake follows these assumed principles of justice, even though they might be conflicting with decrees and rules (Shaffer 2004, Muhlberger 2000). Question 8 Teamwork Blake has embraced the habit of appreciating that people have varied abilities and thus diversity could be of help. He has exhibited that teamwork is an essential quality in TOMS, and thus, he strives on working well with his team. Teamwork is evident throughout TOMS from his team to administrators to clients. He looks for possible ways of making the team develop the habit of appreciating one another. He had to put the agent at Argentina onboard since he was able to speak Spanish language. The team has learnt the essence of setting of their personal as well as work-related differences in reaching greater heights in the business. He carefully recruited the three interns using the Craigslist based on their ability of teambuilding and that has enabled TOMS to have an increased returns (Trevino 2006). Commitment Blake is portraying a high level of commitment throughout his business career and he is well dedicated. Though the possession of the essential skills is necessary, his positive attitude towards his job has carried him a long way. His dedication is “contagious,” that is, his team has been inspired by his dedication (Bazerman and Tenbrunsel, 2011). Integrity Blake values the virtue of being honest and strives to do the right thing all the time. He also puts onboard only the team of workers who have the ability to deliver better results in the long run. He ensures that he does not waste his time gossiping his workers but focuses on how to economically use his time for the good of TOMS. Question 9 1. Monitoring He has been actively involved in keeping a track of the progress of the business. He looks for relevant information that would be of help as he monitors the business. He uses the information in enhancing his business networks through reading, scanning trade newsletters. He maintains the contacts that are essential from the dignitaries he meets in different business meetings. 2. Dissemination Blake has established effective means of communication and dissemination of information within TOMS. Through this effective communication, his team has managed to develop and maintain teamwork (Maw 2008). 3. Spokesperson Blake has learnt the essence of effectively sharing relevant information to the outside world. He attends various global business conferences whereby he markets his brand and has helped him have TOMS become a global company. When he managed to have La Times publish his story, he effectively acted as the spokesperson of TOMS and this turned out to be the breakthrough of the business. 4. Entrepreneurial The conception of TOMS was as a result of his passion of identifying and developing new ideas while initiating improvement of the TOMS. 5. Disturbance handler Whenever differences arise amongst the employees within the TOMS, Blake has the ability of handling the matter amicably before the matter runs spiral. This has enhanced teamwork within TOMS and has yielded to the better results. 6. Negotiator He is constantly making deals on behalf of TOMS. This has made the company expand from Los Angeles into becoming a global business. He is long suffering with the aim of having the company expand. 7. Resource allocator He knows how to allocate resources of TOMS. Some resources are set aside for charity work and the rest is meant for the running of the business (Maw 2008). Reference List Maw, E 2008, Mintzberg’s 10 Managerial Roles, available from http://management.atwork-network.com/2008/04/15/mintzberg%E2%80%99s-10-managerial-roles/ Matthews, G; Deary, J; Whiteman, M 2003, Personality Traits (2nd ed.). Cambridge University Press. Poropat, E 2009, "A meta-analysis of the five-factor model of personality and academic performance". Psychological Bulletin 135: 322–338.doi:10.1037/a0014996 Schacter, G 2011, Psychology (2nd ed.). Worth. pp. 474–475. Atkinson, L.; Richard C; Edward E; Daryl J; Susan, N 2000, Hilgard's Introduction to Psychology (13 ed.). Orlando, Florida: Harcourt College Publishers. p. 437. 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