Mr. Prakash and Mr. Pal are partners in a thriving business venture. Recently, they have become aware of their employees' dissatisfaction with their working conditions. Mr. Prakash believes that the situation should be dealt with before the employees explode. Mr. Pal, on the other hand, believes that if the employees have an outburst, then they will handle it. Mr. Prakash and Mr. Pal's business philosophy is:
(a) Reactive, Proactive
(b) Reactive, Reactive
(c) Proactive, Proactive
(d) Proactive, Reactive
Kanika, known as "Desi Taylor Swift," launched the lipstick brand Kolor among intense global and domestic competition. Despite a lack of groundwork, her substantial 45 million social media following gained significant attention. Which aspect of Michael Porter's force multiplier is working in favour of Kolor?
(a) Social Media Influence
(b) Threat of New Entrants
(c) Supplier Bargaining Power
(d) Buyer Bargaining Power
Answer (2)
Mr. Prakash is proactive in addressing employee dissatisfaction, while Mr. Pal is reactive, leading to the answer (d) Proactive, Reactive. Kanika's significant social media following exemplifies the force of Social Media Influence, answering (a) Social Media Influence.
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In this question, we have two parts: the business philosophy of Mr. Prakash and Mr. Pal, and the aspect of Michael Porter's force multiplier aiding Kanika's brand Kolor.
1. Business Philosophy of Mr. Prakash and Mr. Pal:
Mr. Prakash's approach is to address the situation before it potentially escalates, which is a Proactive approach. Being proactive means taking action to prevent potential problems before they arise.
Mr. Pal, however, prefers to wait for the employees to have an outburst before addressing the issue, which is a Reactive approach. Being reactive means responding to events after they have happened rather than anticipating them.
Therefore, their business philosophy is Proactive, Reactive . The correct option is (d) Proactive, Reactive.
2. Aspect of Michael Porter's Force Multiplier for Kolor:
Michael Porter's five forces are a model that identifies and analyzes five competitive forces that shape every industry and helps determine an industry's weaknesses and strengths. In this context, Kanika leveraged her substantial social media following to launch the lipstick brand Kolor.
Given the fact that Kanika's 45 million social media followers gained significant attention for Kolor, the force that is working in her favor is the Social Media Influence . Social media can significantly increase a brand's visibility and reach, which makes it a powerful tool for marketing and competition.
Therefore, the aspect of Michael Porter's force multiplier that is working in favour of Kolor is (a) Social Media Influence.
