Lee Iacocca Research Paper Example | Topics and Well Written Essays - 1500 words - 1

Lee Iacocca - Research Paper Example He was also fired from Ford Motor Company but revamped the image of Chrysler Corporation. He is considered as a man of vision possessing great leadership skills often appreciated and criticized by many in the business world. The assignment aims at highlighting the leadership traits, approaches and insights of Lee Iacocca that fetched him a stupendous achievement of being ranked 18th in the list of highly influential American CEOs by Portfolio. His ideas and philosophies are well appreciated making him one of the highly respected business personalities across the world. It might amaze many but Lee Iacocca did not start his career as a top leader rather he earned this reputation through some extraordinary leadership skills and clear vision. While working with Ford Motor Corporation, he introduced one of the most interesting sales and marketing campaigns; 56 for 56 that aimed at offering loans on 1956 model cars by paying 20% as down payment and $56 per month. This campaign earned him great recognition in the organization making early inroads for future endeavors. His leadership traits include effective communication, high level of motivation, encouragement, charisma, competence and courage. His positive attitude and zeal to succeed in the short as well as in the long run acted as a positive catalyst for the organization that further offered wide arrays of benefits and advantages. Lee Iacocca always supported changes along with promoting other’s ideas. He believed in empowerment and leading by examples that helped in winning the trust and loyalty of his followers. His profound insights and charismatic personality impacted his followers in a positive manner compelling them to think different and positively in worst of situations. Some of the highly admired and appreciated leadership traits and characteristics of Lee Iacocca include: Ethics are a set of moral rules and regulations perceived differently in the

International Marketing Essay Example | Topics and Well Written Essays - 1250 words

International Marketing - Essay Example Examples of multinational companies are Wal-Mart Stores, Inc., Toyota Motor Corporation and Procter & Gamble Company (Doole & Lowe, 2008). International Marketing In international marketing, multinational companies may adopt either a global marketing approach or a multi-domestic marketing approach. The global marketing approach involves developing a standardized marketing plan, which is implemented with minimal modifications in both home and all international markets. An advantage of global marketing approach is the economies of scale to production and marketing activities. This standardized strategy cuts costs since it allows large-scale production runs and strengthens the image of the brand. A global marketing strategy can nurture collaborative innovation and can excellently boost sales of goods and services to across markets that have common cultures and languages. This strategy is effective particularly in marketing goods with strong, universal appeal. Global advertising media su ch as international print and broadcasting channels help companies to convey a single message to the international audience (Kaynak, 2002). Cost-effectiveness in the implementation of the global marketing approach is its major but most multinational companies are often faced with the need to segment their international markets and develop marketing strategies that meet the unique needs of the target market in specific countries. Multi-domestic marketing approach takes into consideration the differences between the characteristics of different international markets and develops marketing strategies tailored for each market. Most multi-national companies modify their marketing approaches to successfully appeal to individual target markets in the belief that most goods and services demand multi-domestic marketing approaches to give them an appeal on the global market. Market characteristics such as geography, culture and language make it difficult to employ a single market strategy acr oss different segments of international markets. Nevertheless, some particular situations may let multinational companies standardize some aspects of the marketing strategies but tailor others. Some multi-domestic marketing mix approaches for selecting the most appropriate marketing strategy for a particular international market are product invention, straight extension, dual adaptation, promotion adaptation and product adaptation (Onkvisit & Shaw, 2008). Multinational companies may also choose among countertrade, distribution and distribution strategies. Wal-Mart Stores, Inc. Wal-Mart is one of the largest retail chains globally operating diverse kinds of retail stores. The stores range from neighborhood stores, supercenters, discount stores and online retail stores/clubs. Wal-Mart offers wide-ranging products, goods and services including drugs and pharmaceutical products; fitness and beauty aids; cameras, optical supplies and photograph processing; household goods and chemicals; apparels; clothes and shoes; stationery and books; housewares and furnishings; electronics; appliances; automobile accessories; horticultural products, sporting merchandises; toys; pet food and items (Kaynak, 2002). The neighborhood markets include fresh groceries, meat and dairy products, deli, baked foods, frozen foods, medications, paper goods and general merchandise