Want Satisfaction and Levels of Living


The level of want satisfaction achieved in a given economic society is hard to measure. Ordinarily it is expressed in terms of per capita income—sometimes gross and sometimes net, depending on the availability of data. There may be a great dispersion around the average; and the average income figure may be misleading.  Nevertheless, per capita income appears to be one of the best measures available of the performance of an economy.

Sometimes people judge the performance of an economy on the basis of whether per capita incomes are at a satisfactory level. The implication is that if the level is below satisfactory, something ought to be done about it—that everyone is entitled to a satisfactory level of living. Judgments of these kinds are not very valuable from the point of view of economic analysis.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

 

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Locus of Control


Locus of control is the extent to which a person believes that his or her behavior has a direct impact on the consequences of that behavior. Some people believe they can control what happens to them—that if they work hard, for instance, they will be successful. These people, called internals, have what is termed an internal locus of control. Externals, or people with an external locus of control, tend to think that what happens to them is determined by fate or luck. They see little or no connection between their behavior and subsequent events. Like attribution theory concepts, locus of control concepts focuses on people’s interpretations of what happens to them.

Locus of control concepts has some significant managerial implications. Internals are likely to want a voice in how they perform their jobs because they believe that what happens to them will depend on how well they control their environment. Externals, in contrast, may be less inclined to participate in decision making.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

 

Ethics and Leadership


There are several different types of leaders:

  1. Universal Leaders: Those who believe that ethics has no business in the workplace. Their decisions are not guided by ethical principles. They tend to operate out of personal and pragmatic motives with less concern for the altruistic or idealistic implications of their decisions. This does not mean that every decision is unethical, merely that the ethics of the decision is not considered when it is made.
  2. Ethical Leaders: Those who are personally ethical in word, thought, and deed and conduct their decision making openly so that they are perceived as ethical even from a distance. Not only do these leaders consider the ethical consequences of their decisions, in addition to the individualistic and pragmatic, but also it is obvious to the observer that this is the case. They make a point of ensuring that the ethical aspects of their decision-making process are as valuable and transparent as they are pragmatic. Additionally, ethical leaders are attentive to culture and symbol aspects of how they act out the “moral manager’s” role. They understand that their actions and decisions communicate symbolically as well as literally.
  3. Ethically Neutral Successful Leaders: Those who are personally ethical in word, thought, and deed, but are not open about it. These leaders may not be perceived as ethical from a distance. They are often viewed as not paying adequate attention to the ethical component of their decisions, not because the outcome is unethical, but rather because their decision-making process is not readily apparent.
  4. Hypocritical Leaders: Those who deliberately choose to act unethically.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Common Advertising Techniques


It’s a good idea to be aware of certain common advertising techniques. There is nothing illegal or even misleading about a food advertisement that tempts you because it is photographed in a warm, cozy setting that reminds you of dinners at your grandmother’s house. But you should be aware that you may be buying the product because of the romanticized advertisement. Frequently used advertising techniques include:

  • Use of glamorous figure to endorse a product;
  • Use of sentimental pictures to awaken feelings of longing and nostalgia that the ad suggests may be fulfilled by using the product;
  • Use of “can be,” “up to,” or other “weasel words” that enable the advertiser to avoid making firm promises;
  • Implications that only the most up-to-date people use a certain product;
  • Gimmicks that make you feel you are getting a bonus, such as a free hairbrush attached to a bottle of shampoo;
  • Creation of market through convincing you that a new product will revolutionize your life.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Identifying Company Weaknesses and Resource Deficiencies


A weakness is something a company lacks or does poorly or a condition that puts it at a disadvantage. A company’s internal weaknesses can relate to a) deficiencies in competitively important skills or expertise, b) a lack of competitively important physical, human, organizational, or intangible assets, or c) missing or weak competitive capabilities in key areas. Internal weaknesses are thus shortcomings in a company’s compliment of resources. A weakness may or may not make a company competitively vulnerable, depending on how much the weakness matters in the market place and whether it can be overcome by the resources and strengths in the company’s possession.

Sizing up a company’s resource capabilities and deficiencies is akin to constructing a strategic balance sheet where resource strengths represent competitive assets and resource weaknesses represent competitive liabilities. Obviously, the ideal condition is for the company’s strengths/competitive assets to outweigh its weaknesses/competitive liabilities by an ample margin—50-50 balance is definitely not the desired condition.

Once managers identify a company’s resource strengths and weaknesses, the two compilations need to be carefully evaluated for their competitive and strategy-making implications. Some strengths are more competitively important than others because they matter more in forming a powerful strategy, in contributing to a strong market position, and in determining profitability. Likewise, some weaknesses can prove fatal if not remedied, while others are inconsequential, easily corrected, or offset by company strengths. A company’s resource weaknesses suggest a need to review its resource base: What existing resource deficiencies need to be remedied? Does the company have important resource gaps that need to be filled? What needs to be done to augment the company’s future resource base?

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

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