Diversification is a strategy for growing a company through the development of new markets and products. Diversification can either create value to an organization or destroy its value. Apple is a company widely known for the manufacture of iPhones. However, their smartphones are quite expensive hence not affordable to most people. Apple needs to diversify its smartphone products by introducing new models that are affordable. This will enable the company to acquire the low priced market share that has slowly been taken over by other companies such as Samsung.
Introducing a new affordable model in the market will contribute to the growth of Apple. This is because the new product would appeal to the customers who cannot afford the current iPhones. However, this might negatively impact on Apple’s net earnings and net income as the cost of making new products may lower the profit margins.
Business-Level Strategy
Business-level strategies are actions that an organization or firm adopts for each of its business separately to serve their different customer groups and also to satisfy the various customer needs (Hill & Jones, 2007). The strategy of Victory Motorcycles is offering their clients with customized products to increase their satisfaction. However, this approach is not appropriate for other automotive companies in the market have the capability and the technology to manufacture better and more efficient motorbikes. Hardley-Davidson being one of the biggest competitors of Victory Motorcycles has the capability of producing more efficient motorcycles hence attracting many customers.
Some of the recommendations I would give Victory Motorcycles are manufacturing motorcycles that are an environmental friendly which are electric. The firm may also consider coming up with other strategic plans that will improve the effectiveness of their product. Lastly, the strategic plan of the company can be enhanced by reducing the prices of the merchandise. However, the company may face various challenges while implementing some of these recommendations. For instance, reducing the prices of the merchandise may impact on the profitability margins of the enterprise.
Goal-setting, Self-efficacy and Reinforcement Theories
Goal setting theory involves action plans towards improving performance. Self-efficacy theory is based on perception and one’s capabilities. Reinforcement theory states that a person’s actions are as a result of repercussions (Schermerhorn, 2011). Goal-setting and self-efficacy are both motivational theories, but reinforcement theory is a way of understanding and analyzing behavior. Self-efficacy complements the goal-setting theory. My future approach of motivating employees is through reinforcement theory to ensure positive behavior is repeated in the organization. For instance, by rewarding the employees who do their work well and perform well with salary increments or bonuses.
Rural-Urban Migration
People are mostly attracted to the urban areas because of the various opportunities that the urban areas have. For example, most industries are in the urban areas. Thus, there are many jobs in these regions. Also, most social amenities such as universities are in the urban areas hence the reason for migration. However, this has brought severe problems for the government to solve. One is increased insecurity in the urban areas and farming activities in the countryside are disrupted. Also, there is the issue of unemployment due to overpopulation thus straining the government’s resources (Fischer, 2011).
References
Fischer, R. (2011). Rural-Urban Migration. Chicago : University of Chicago Press.
Hill, C., & Jones, G. (2007). Strategic Management: An Integrated Approach Boston : Houghton Mifflin.
Schermerhorn, J. R. (2011). Introduction to Management. Hoboken, N.J. : Wiley.
