The Ethical Dilemma Of Bangladesh - 1765 Words

Problem Recognition/Ethical Dilemma Repeated disasters due to poor work conditions has raised concern for everyone around the globe. These disasters have everyone wondering when will someone step up to make a change so that these occurrences will not continue to happen to the struggling people of Bangladesh. Outsiders feel as if the retailers who use Bangladesh garment industry should start doing more to ensure work conditions are safe for employees of the factories. Mr. Sohel Rana, the owner of Rana Plaza, should be responsible for all decisions concerning Rana Plaza. He should be the one to step up and cease operations of the plaza until work conditions improved. He was aware of the work conditions, but he insisted that they were†¦show more content†¦The country of Bangladesh as a whole and employees in these textile factories has the most to gain in the outcome of improved work conditions and higher wages for employees. Better working conditions will allow for the factori es to continue operations which will generate income for the country and grow the economy. Employees of the factories will live a more fluent life with an increase in wages. Employees will also accomplish more without having to be concerned about their safety and whether they will make it home to their families or not. Identification and Evaluation of Possible Alternatives There are a wide array of alternatives that could be put in place to improve the work conditions in the factories in Bangladesh. A governing board can be created comprising of leaders from retailers who use the factory, representatives from the United Nations International Labor Organization, and political leaders in the United States, Europe, and China. This will allow for the leaders from the retailers to get a first-hand look at the work conditions in the factories. They can make adjustments according to the problems that are present so that all eyes will not be on them when things go south. That will also be their social justice by showing that they care about the people and that their work conditions are a top priority. The United Nations International Labor Organization governs all labor globally. They will be able to approveShow MoreRelatedThe Culture Of Bangladesh And Canada1497 Words   |  6 Pagesbusiness culture pres ent in Bangladesh and Canada. This assignment covers the similarities and differences which exist between two different cultures followed in Bangladesh and Canada. According to Mihaela (2014), the culture of a country contributes to the development of any country it helps in attracting the opportunities in business. The business culture of every country is quietly affected by the social life and cultural belief followed by people resides there. In Bangladesh maximum population resideRead MoreFootwear International A Multinational Manufacturer And Marketer Of Footwear1066 Words   |  5 Pages000,000 shoes every year around the world. In 1985 Footwear Bangladesh went public and for the following years the company was organized by the largest foreign investment in the country. Footwear Bangladesh focused producing leather for local footwear. Over 1800 employees within 81 stores and 51 agencies were located in Bangladesh. The company reached over 15% of the market by selling more than 10,000,000 pairs per year. Footwear Bangladesh was a successful company with a high reputation until JuneRead MoreGlobalization And Competitiveness : The Impact On Future University Of Alberta Bcom Graduates Essay982 Words   |  4 Pagessuch as ethical responsibility, the winners and losers of globalization, and the opportunities and threats that occur as a result. Due to globalization, University of Alberta graduates will have to contend with the challenges of increasing competition in the work force that result from the increase of interconnectivity. Ethical business practices apply to the conduct of a business’s operations which requires them to be accountable in judgments that affect their operations. However, ethical behaviorRead MoreCulture Issues in Developed Countries1538 Words   |  6 Pagesmakes us citizens of a global village, we cannot lose the perspective that there are different beliefs and normative behaviors in different cultures some acceptable in country A, but not in country B; some even expected. Often, when looking at ethical dilemmas in other countries, we must ask: Is it moral or not, when trading in a foreign country, to participate in immoral actions to survive? Morality is typically the standard that a group has about what is right and wrong good and evil permissibleRead MoreEthical And Ethical Challenges Of Organizations1536 Words   |  7 Pages â€Å"A major problem we identify in business is that organisations are designed as profit making mechanisms and have no interest in the good of society† (Bartlett Preston, 2000). Companies always want to have an ethical advantage over other companies but only for the profit. With globalisation and technological advances, it can put a stress on some companies as they always need profit and market share to be successful and grow. â€Å"Individual managers (tone at the top) play an essential role making sureRead MoreGlobalization of Levi Strauss1265 Words   |  6 Pagescontribute to issues such as child labor, discrimination, exploitation and health and safety issues for people working in developing countries. Since U.S. laws do not apply to American companies operating in foreign countries, these companies have an ethical responsibility to create codes of conduct to govern the way they treat people and conduct business overseas. Levi Strauss amp; Co. has been a leader in co rporate and social responsibility; the first multinational company to create a code of conductRead MoreThe Ethical Issues Of Outsourcing Labor Essay2133 Words   |  9 Pagespractices. This has created the classic ethical debate as to whether it is possible for multinationals to engage in developing nations in both an ethical and lucrative manner. For businesses, the difficulty is if one of these values should be favoured over the other. In this paper, I will argue that ethical dilemmas, like outsourcing labour, are best approached using the algorithm suggested by Thomas Donaldson; showing that businesses can engage aboard within an ethical manner. To begin I will examine howRead MoreThe Fashion Industry And Manufacturing Process842 Words   |  4 Pagesworking conditions. And this is true; however, many consumers never give thought to this. All they see is fashion (or whatever the product is) with a cheaper price tag. They forget (or choose to ignore) incidents such as â€Å"the factory collapse in Bangladesh, which killed over 1,000 garment workers† (That Made in the USA Premium). It seems we are often willing to sacrifice quality and lives all in the name of mass production and saving a dime. Another issue that negatively impacts globalization isRead MoreDevelopment Ethics And Environmental Injustices Essay2730 Words   |  11 PagesResearch Proposal Kazi A S M Nurul Huda Assistant Professor Department of Philosophy University of Dhaka Dhaka 1000, Bangladesh Title â€Å"Development Ethics and Environmental Injustices in Bangladesh† Research Problem Critiques of understanding development as regards the processes of economic growth, industrialization, and modernization are common on the grounds that it raises as many problems as it solves. As a reaction, some scholars propose a normative understanding of development as the point ofRead MoreEthical And Ethical Ethics Of The International Arena Essay1339 Words   |  6 PagesConducting ethical business in the United States can be seen as clear cut to us. Although we are a diverse nation, as U.S. citizens, most gain experience in the professional environment where ethics is explained thoroughly enough that one is able to determine what is ethical and what is unethical. When it comes to ethics in the international arena, Thomas Donaldson explained how that structure almost does not exist since ethical culture, practices and the social norm is different in each country

Corporate Social Responsibility In Business Free Essay Example, 3500 words

The green movement has given precedence to corporate social responsibility which has become the buzzword in the business world. To address the environmental needs and to meet the restrictions placed by the International agencies, strategy managers and high-level executives are incorporating various CSR initiatives. They opt to use PESTEL (Political, Economic, Social, Technological, Environmental and Legal) model to incorporate these initiatives by identifying which areas will be impacted by various CSR initiatives. For example, recycling of paper will address the political aspect of the PESTEL model as it is following the restrictions placed by the UN. With the help of this model, business-strategic managers can identify various CSR initiatives and adopt those addressing each aspect of the model at various strategic levels. Strategy defined as the direction and scope of an organization over the long-term: which achieves advantage for the organization through its configuration of re sources within a challenging environment, to meet the needs of markets and to fulfill stakeholder expectations (Johnson and Scholes 2006). From big to small organizations, the strategy is important as it highlights the direction the business is trying to take, the scope of their business, the expectation from their stakeholders, the utilization of their resources, and their advantages over its competitors. We will write a custom essay sample on Corporate Social Responsibility In Business or any topic specifically for you Only $17.96 $11.86/pageorder now In big organizations, strategy exists at several levels: corporate strategy, business unit strategy and functional unit strategy whereas in a small organization, the levels are intermingled with each other. The corporate strategy is concerned with the overall purpose and scope of the business (Mintzberg et al 2005). For example, Microsoft takes a strategic approach to accessibility in product planning, research and development, product development and testing. They are continuously working to make the computer easier to use and handle by building various accessibility features into Microsoft products.

The Association Between Parent s Beliefs About Vaccines

Introduction The main objective of this particular study was to evaluate the association between parent’s beliefs about vaccines, their decision to delay or refuse vaccines for their children and vaccination coverage of children at aged 24 months. Method The method of selecting the sample was clearly defined and the sample size met the suggested guideline for minimum sample size. Data was collected using the National Immunization Survey (NIS) in two phases. Phase I, a telephone survey was conducted to identify households that have children aged 19-35 months, followed by Phase II, surveys were mailed to those children’s vaccination providers. Of the 17,313 children aged 19-35 months sampled by the NIS in 2009, the researchers†¦show more content†¦They then categorized the parents into one of four possible delay/refusal categories. This was dependent upon whether they reported (1) neither delaying nor refusing, (2) delaying but not refusing, (3) refusing and not delaying, or (4) delaying and refusing. In this article, the parents who delayed but did not refuse were referred to as parents who â€Å"only delayed,† and parents who refused but did not delay were referred to as parents who â€Å"only refused†. According to the researchers, parents who reported delaying or refusing vaccines and could remember the name of the vaccines that were delayed/refused were asked question about the reasons why they delayed or refused those vaccines. The parents’ beliefs about vaccines were assessed and the researchers used current data from the 2009 NIS to correlate the parents’ report of delay/refusal with the four psychosocial domains that index the Health Belief Model. To measure those domains, parent were read 11 statements to provide a verbatim response whether on a scale of zero to 10, where zero meant strongly disagree and 10 meant strongly agree. An evaluation of vaccination status was conducted. For each child sampled, the researchers evaluated vaccination status as of their 24 month birthday and referred to this as vaccination status at aged 24

Should Minimum Wage Be Raised - 1337 Words

U.S. Democratic Presidential candidate Bernie Sanders has said, â€Å"It is a national disgrace that millions of full-time workers are living in poverty and millions more are forced to work two or three jobs just to pay their bills† (Wolf 1). Sanders has said this frequently and is referring to the drastic amount of Americans who are currently struggling, despite already having a job. The issue of whether or not to raise the minimum wage in America has been a widely discussed topic for years. Minimum wage refers to the smallest amount of money a worker can legally be paid in the U.S. It was first signed into law in 1938 by President Franklin Roosevelt in order to keep workers out of poverty and as it stands, the current federal minimum wage in†¦show more content†¦This quote suggests that an important factor of a booming economy is the worker. A simple fact is that the more the worker makes, the more goes into the economy. Moreover, in President Obama’s State o f the Union address back in 2013, he notes that raising the minimum wage means that â€Å"for businesses across the country, it would mean customers with more money in their pockets† (Luhby 1). This proposes that an increase in the minimum wage helps businesses as well as the worker. As of right now, American people whose sole income is through a minimum wage salary can barely afford to pay for basic needs such as groceries and rent. With not a dollar to spare, every single penny of their already small paycheck goes towards these basic necessities. With an increase in their salary, the more Americans making minimum wage can spend on things outside of their basic necessities, which would in turn help out businesses in America and contribute the economy of the country as a whole. A second reason why the minimum wage needs to be increased is that it would help working-class families. When people in America think of the average minimum wage worker, they think of a teenager. Contr ary to this widely held belief, this is not the case of modern day America. According to an infographic released by the Economic Policy Institute, a nonprofit that researches economic

Heuristic And Bias Of Decision Making - 2375 Words

Heuristic and bias in decision-making If I was given A$50,000 to invest on a portfolio of stocks, what should I choose as a starter without any experience on shares? According to van der Pligt (2001) the study of human decision-making is an interdisciplinary project including economics, statistics as well as psychology, and moreover, decision making behavior involving almost all branches of psychology. After three weeks’ simulation of trading on Australian Stock Exchange, in retrospect, I amazingly find there are substantial bias impacts on my decision with respect to choosing, selling and keeping stocks. The following table lists the most fundamental heuristic or bias I had during the time I made decisions for stocks: Table 1: Decision Heuristic/Bias Heuristic/Bias Buying Holding Selling Regression to the Mean +/- + - Gambler’s Fallacy + + 0 Confirmation Bias 0 + + Efficient Market Hypothesis - 0 0 Explanation of symbols: + overemphasis of the heuristic/bias - overlook of the heuristic/bias 0 absence of the heuristic/bias Regression to the Mean Regression to the mean is the law of nature that if the observations are higher or lower than the average measurement, the expected value’s tendency progresses toward the mean (Week 4 Lecture Slides). More or less, we have some basic statistical knowledge learnt whether from schools or through our past experience. Consequently, we are aware of the importance of the meanShow MoreRelatedDecision Making A Rational Approach1572 Words   |  7 Pagesdemonstrate effective judgment and decision making a rational approach must be taken in order to reach an optimal decision. I am diagnosed with a high functioning form of Obsessive Compulsive Disorder. This condition drives me to act exceptionally irrational in my judgments and decisions. I strive each day to improve my skills and decrease the impact of my irrational fears. With a major of management, my future career undoubtedly be filled with tough decisions and judgment calls that require a calmRead MoreEffective Appraisal Approache s And Its Influence On Investment Decision Making1441 Words   |  6 Pagesof equipment or inventory by owner in order to improve future business. (Kahraman, 2011) Moreover, the part of decision-making acts a crucial role in business investment that depends upon the investor’s profit expectation, the availability to finance the investment and the potential cost of assets. (Virlics, 2013) However, risk and uncertainty are the basic terms to the decision-making framework. Risk can be defined as the probability of outcomes or loss that is caused by internal or external vulnerabilitiesRead MoreEffective Appraisal Approaches And Its Influence On Investment Decision Making1419 Words   |  6 Pagesof equipment or inventory by owner in order to improve future business. (Kahraman, 2011) Moreover, the part of decision-making preforms a crucial role in business investment that depends upon the investor’s profit expectation, the availability to finance the investment and the po tential cost of asset. (Virlics, 2013) However, risk and uncertainty are the basic terms to the decision-making framework. Risk can be defined as the probability or threat of outcomes or loss that is caused by internal orRead MoreThe Implications Of Prospect Theory814 Words   |  4 Pageswillingness, which means greater risk aversion for precautionary decisions under risk (Kusev, P., van Schaik, P., Ayton, P., Dent, J. Chater, N. 2009). These are called heuristics and biases in decision making. In this part, other heuristics and biases of framing of the problem, gambler’s fallacy and overconfidence will be discussed in depth with respective example and ACAR of its significance on process of making decisions. Firstly, the bias is framing of the problem. When people frame the problem inRead MoreProspect Theory And Expected Utility Theory1419 Words   |  6 PagesNegotiations and decisions are act as key counterparts in every business. A clear definition as well as the recognition of core elements surrounding the decision making process is required to reach a suitable decision. These approaches purpose to be achieved clear concerns before a final decision-making. This paper will outline prospect theory and discuss the differences between prospect theory and expected utility theory. Following will be, as explanation of the biases and heuristics of the investmentRead MoreEthics And Supports Appraisal Activities1142 Words   |  5 Pages Analyzing Heuristics There are a few heuristics recorded all through the case study that go about as a particular general guideline or contention that were the most relevant to the conflict in this case and supports appraisal activities. Commonly, these heuristics are one-sided and in light of general understanding, which may not fit every last circumstance. Perusing the transcripts, a few employees made remarks that reflected such heuristics. Michael expressed, â€Å"this is a really tough environmentRead MoreHeuristic Thinking Is The Refined Mental Process People Use When Faced With An Alternative1225 Words   |  5 PagesHeuristic thinking is the refined mental process people use when faced with an alternative. Such decisions are typically made quickly and unconsciously. Quickly making a decision without thinking through every detail can be advantageous but it can lead to biases and inconsistencies. There are four common biases caused by heuristics; relative comparisons, availability, representative ness, and affective. The first bias, relative comparison, is when people criticize based off of correlation or affiliationRead MorePalm Inc Analysis Essays1589 Words   |  7 PagesManagers/CFOs often use heuristics for valuation purposes as opposed to traditional methods such as the DCF. Metrics such as the ones used by Palms CFO, the P/E and price-to-sales, are often easier to use and require less research and fewer variables. However, relying on such metrics can lead to the affect heuristic. DCF is the methodology that should be used to ensure the fundamental value is accurate. The application of heuristics in valuation is often subject to bias. The bias can stem from incorrectRead MoreEthics And Supports Appraisal Activities1144 Words   |  5 PagesAnalyzing Heuristics There are a few heuristics recorded all through the case study that go about as a particular general guideline or contention that were the most relevant to the conflict in this case and supports appraisal activities. Commonly, these heuristics are one-sided and in light of general understanding, which may not fit every last circumstance. Perusing the transcripts, a few employees made remarks that reflected such heuristics. Michael expressed, â€Å"this is a really tough environmentRead MoreChapter 8 : Behavioral Economics1490 Words   |  6 Pagesimportant to me for many reasons. Mostly to reverse already previously ingrained bad habits from my child development, to have the knowledge and skills to prevent myself from taking any new bad habits, and to better correct my decisions based off any of the biases and/or heuristics that I may be affected by, especially inadvertently. Also, it just burns my curiosity, very deeply, to understand behavior from a very macro view of society and humans. To begin with, System 1 is the automatic, emotional

Philippines education system free essay sample

In the past years Philippines has been implementing k10 basic education system. However in 2011 government start to implement the k12 education system as basic education in Philippines. In new system there is a new curriculum andmethos that teachers will be using in this school year. enableto secure that the students will learn they made a method that the teachers should use. In school year 2011-2012 Universal kindergarten start. In the school year 2012-2013, the grade 1 is the first batch that will undergo the full k12 education system and the 1st high school (grade 7)will be the first batch that will undergo the enhance secondary program. This changes will be a big effect to students and teachers, the student needs to adjust to the new curriculum and the teachers needs to study the new way of teaching the new curriculum of the new education program. Teachers plays a big part so that the student will learn and develop their skills and talent. We will write a custom essay sample on Philippines education system or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In the new education system, the wa how teachers teach the students will have a change. Having k12 system as a new basic education in Philippines, is the teachers follows the method of this new system? Are these teachers adjust already in the new method of curriculum and way to teach the students? The k-12 education program has been used by teachers in other countries in a long time already to teached the students . enable to learn from this education program will help the Filipino students to be more competitive, knowledgeable and prepared for their future. This new education program that introduced in the Philippines two years ago , will be needed the teachers to undergo seminars and training for them to learn how to teach the new curriculum to their students. The Department of Education (DepED) and St. Paul University Philippines (SPUP) have played a pivotal role in the implementation of the K+12 Enhanced Basic Education Program as the two institutions partnered to train the direct implementors in summer 2012. From May 3-June 3, 2012, DepED and SPUP conducted a series of trainings for the Grade 7 teachers in Cagayan Valley. SPUP was tapped by the DepED-Teacher Education Council as the teacher training institution for six learning areas: Science,English, Mathematics, Edukasyon sa Pagpapakatao, Araling Panlipunan, and Filipino. A total of 2,219 secondary teachers from the different school divisions of Region 02 participated in the training program. The five-day training program aimed at: a) orienting the teachers with the K+12 Enhanced Basic Education Curriculum Framework, Curriculum Standards and Implementing Guidelines; b) enhance participants knowledge of content and instructional skills in terms of using the 21st century teaching-learning methodologies/ strategies and assessment methods; and c) reorient them with the teaching-learning principles, as well as the skills necessary for values integration. Clustered into six learning areas, the teacher-participants completed the 54-hour training program. Grade 7 Science teachers were trained on May 3-7; English teachers, May 8-12; Mathematics teachers, May 14-18; Edukasyon sa Pagpapakatao teachers, May 20-24(first batch) and May 30-June 3(2nd batch); Araling Panlipunan teachers, May 26-30; and Filipino teachers, May 26-30( DepED, SPUP train teachers for K+12 implementation. Retrived from http://www. spup. edu.  ph/deped-spup-train-teachers-k12-implementation49). However after all this trainings, we still don’t know if teachers follows how DepEd suggested to teach the k-12 education program. The hypothesis of this to reveal the low number of teachers that follows how the k-12 education program should be teached. In this research , the researchers aims to determine if the teachers follows k-12 education program to teached their student by observing how teachers teach their student inside their classrooms.

Analyse The Streingths and Weaknesses Of The Bosto Essay Example For Students

Analyse The Streingths and Weaknesses Of The Bosto Essay n Matrix As An Aid TIn this essay I will look at the strengths and weaknesses of using the Boston Matrix to help make decisions in business. I will first briefly explain the Boston Matrix and then analyse its effectiveness as an aid to making a marketing strategy. Like Ansoffs matrix, the Boston Matrix is a well known tool for marketingmanagers. It was developed by the large US consulting group and is a way that a business can compare all of its products. The two aspects it looks at are market share (relative to that of competitors) and market growth. To use it you would look at all of your products and sort them into 4 categories, stars (products with a high market growth and a high market share), cash cows (high market share in a market with little growth), problem children/question marks (low market share in a growing market) and dogs (low market share in a market with no growth). There needs to be an equilibrium of the different types in your product portfolio. Never have any dogs, but try and keep the same amount of the other 3 types. This means that funds can be evenly distributed between the 3, money generated from cash cows needs to be spent turning problem children into stars, which will eventually become cash cows, and the cycle cont inues. Some problem children will become dogs, and money from cash cows may also have to be spent compensating for these failures. The Boston Matrix is commonly used to try and help plan the future of a company as well as simply categorising products. But it takes a good marketing team to use the Boston Matrix successfully in conjunction with the marketing mix. There are several advantages and disadvantages of using the Boston Matrix to help make decisions like this Firstly, there is a common assumption that a high market share will automatically mean high profitability of a product. This isnt always the case, as the costs of development of a product must be taken into consideration. For example, when Boeing launch a new jet, yes they have a high market share but they still must cover the extremely high development costs. Although jets are a very specialised product, it is the same for other more simple products as a large chunk of a companies resources go on design and research. Also, at the launch of a new product lots of money must be spent on advertising to ensure that the product does get the market share it wants. The good thing about this is that if this risk is undertaken, the product may in the future become a cash cow and the companies will be able to reap the benefits and the product will be able to support new products. Do you see the cycle that the products follow?, this all links very closely with the product lifecycle. Of course a company should not just assume that a product will follow this cycle, there is no guarantee that a product will follow this cycle and a marketing department would be stupid to assume that a product will. This is another problem with using the Boston Matrix to make decisions (as it is a problem with all other aspects of marketing), that markets just arent that predictable. Nobody can predict accurately consumer trends in a following year. If they could then marketing would be easy. But many companies who thought they could predict market trends are now bust. The Boston Matrix is an attempt to simplify something that is very complicated. It helps, but it doesnt solve the problem. The problem with using the Boston Matrix is that it oversimplify a very complex decision making process. Marketing departments should be very careful not to take too much from the use of the Boston Matrix. .ueab5cdfe5863e62e9ecac30d154d3bdf , .ueab5cdfe5863e62e9ecac30d154d3bdf .postImageUrl , .ueab5cdfe5863e62e9ecac30d154d3bdf .centered-text-area { min-height: 80px; position: relative; } .ueab5cdfe5863e62e9ecac30d154d3bdf , .ueab5cdfe5863e62e9ecac30d154d3bdf:hover , .ueab5cdfe5863e62e9ecac30d154d3bdf:visited , .ueab5cdfe5863e62e9ecac30d154d3bdf:active { border:0!important; } .ueab5cdfe5863e62e9ecac30d154d3bdf .clearfix:after { content: ""; display: table; clear: both; } .ueab5cdfe5863e62e9ecac30d154d3bdf { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ueab5cdfe5863e62e9ecac30d154d3bdf:active , .ueab5cdfe5863e62e9ecac30d154d3bdf:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ueab5cdfe5863e62e9ecac30d154d3bdf .centered-text-area { width: 100%; position: relative ; } .ueab5cdfe5863e62e9ecac30d154d3bdf .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ueab5cdfe5863e62e9ecac30d154d3bdf .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ueab5cdfe5863e62e9ecac30d154d3bdf .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ueab5cdfe5863e62e9ecac30d154d3bdf:hover .ctaButton { background-color: #34495E!important; } .ueab5cdfe5863e62e9ecac30d154d3bdf .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ueab5cdfe5863e62e9ecac30d154d3bdf .ueab5cdfe5863e62e9ecac30d154d3bdf-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ueab5cdfe5863e62e9ecac30d154d3bdf:after { content: ""; display: block; clear: both; } READ: Pearl Harbor EssayThe main advantage about the Boston Matrix is it is meant to analyse a firms current position, and this it does very well. It should be used in conjunction with the other methods in the product portfolio analysis and the product lifecycles. After the firm has analysed its current position it can decide what to do next. There are 4 things a firm can do in the future as relates to the Boston Matrix; Building, this involves investment in promotion and distribution to get more sales, commonly used with question marks. Holding, this is spending money on marketing to maintain sales (used with star products). Milking, this is used with cash cows and involves tak ing the maximum profits you can from the product without much new investment. And finally divesting, this is just selling off your remaining stock of a product and is done with dogs. Again though it is not that simple to make a decision about a product based solely on the theories of the Boston Matrix. In closing, the Boston Matrix is a very good way that a firm can access its current market position. Used correctly, with other methods of portfolio analysis, it can give the firm scope for creating a positive marketing strategy. Its main strength is also its weakness though. If used incorrectly the Boston Matrix could effectively destroy a company, that is why it is wise to hire a marketing team that will look at the position of products from more than one angle before throwing money at a problem. A manager should also go on his gut instinct rather that always following stats and figures, this is the key to success.