MID-2 AssignmentMGT 212, Sec: 24Total Points: 30Name: ...

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MID-2  AssignmentMGT 212, Sec: 24Total Points: 30Name:                                                                                     XXXXXXXXXXID:Q1. “The cost of being late in the market exceeds the cost of being wrong” Explain in your own words with a real-life example.   10 Points ( Not more than 3 pages) (Classic examples include Kodak’s late response to digital photography, Nokia’s late response to touchphone industry, Microsoft’s late response to mobile OS, Blackbey case, Blockbuster vs Netflix etc.)Q2. Refer to the text book. Page 336 Case Application 1 ( Fast Fashion)  20 Points (Not more than 8 pages)a) What a role do you think a team leader needs to play in this type of setting? As a manager, how would you motivate a team like Zara’s.) What types of plans would be needed in an industry such as this one ? (For instance long term plans or short term plans or both ? ) Explain why would you think this plans would be important.c) What types of growth strategies ZARA might use in the future ? Explain.d)  In order to achieve organization’s efficiency and effectiveness, what should the organizational structure for ZARA. Explain.

Sourav Kumar · Accepted Answer

1.
The expense of being late is consistently more prominent than the expense of being off-base in the market. These stops by understanding that the market is consistently open to circumstances and items are ceaselessly advancing as time passes. To catch the market it is a lot of fundamental for an organization to situate its items in the market when they have planned it, particularly this abandons saying in the mechanical business. In the innovative period the items are creating at an exponential rate (Hendricks, 1997). As time passes, pretty much at regular intervals new equipment or programming items are entering the market. 
Take for instance the possibility of a cell phone. Over the most recent 2 decades, cell phones have arrived at each family unit in practically all pieces of the world. Like clockwork or even less we saw a move up to a cell phone. Inside the most recent decade itself we would revolutionary be able to change in the manner we utilize these telephones. From the keypad, telephone to contact screen telephones now. In the coming future, it is a lot of conceivable that we will utilize a telephone that will have a weight not exactly a gram, and will be totally founded on grapheme. Artificial intelligence has taken over at an exponential rate in practically all parts of our life. 
Nokia, for instance, made its entrance to the market with a touch screen telephone at a later stage when practically the entirety of its rivals in the market has caught the market through their most recent advancements. Because of this Nokia confronted a significant test in staying aware of the pace of innovation and needed to withdraw selling of telephones. After quite a while when it began to rise again they needed to think of better plans of promoting to catch the eye of the buyers. It's smarter to not be right than be late in such a case that you are even off-base, there are various sorts of buyers and each new thing whether right or not takes on to the market and turns into a pattern. Nokia could have overhauled its item, had it been earlier into the market. It may be that they would have sold a ton, yet because of its image name they would have the consideration of the clients and in the then they could have made something out of it.
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MID-2 Assignment MGT 212, Sec: 24 Total Points: 30 Name: XXXXXXXXXXID: Q1. “The cost of being late in the market exceeds the cost of being wrong” Explain in your own words with a real-life example. 10...

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