Complacency-Not Asking Questions

question 17

Essay

Complacency-Not asking questions. See Table 3.3 for additional information. Also, students should provide an appropriate example for each conceptual block.
Mini-Case: The Minivan Story. In the May 30, 1994, edition of Fortune magazine, the story of the minivan was told. In the earlier years of the passenger vans, only hippies seemed to appreciate the attributes of the van. However, in the 1970s, all three U.S. automakers began to study ways to modernize and broaden the appeal of their vans. Listening to customers helped Chrysler avoid two crucial design errors: (1) it rejected the long, wedge-shaped nose design and (2) it rejected the design that placed the engine under a hump in the floor (blocking passage from front to back seats). Also, while Chrysler continued to push for front-wheel drive, both Ford and GM handed responsibility of the minivan to the truck divisions, which continued to focus on rear-wheel drive. GM's problems were compounded by the fact that in 1985 station wagons were a significant part of its sales. In the 1990s, both GM and Ford developed front-wheel drive minivans and neither were housed in the truck division. Learning from their mistakes, both GM and Ford devised a new-product development process.
-Compare and contrast the key management principles that focus on fostering innovativeness and creative problem solving with the management principles that focus on analytical problem solving.

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Definitions:

Production Possibilities Curve

A graphical representation showing the maximum quantity of two goods or services that can be produced with limited resources.

Temporarily Operating

A status of business or facility operation for a limited period or until a specific event occurs, often used in contexts of transitional management or during emergencies.

Production Possibilities Curve

The Production Possibilities Curve is a graph that shows the maximum possible output combinations of two goods or services an economy can achieve when all resources are fully and efficiently employed.

Economic Growth

The escalation in the real value of products and services an economy produces, adjusted for inflation, over time.