Polarity and Polarity Management
aplan University Abstract This paper explores and provides an insight on the Marketplace Business Fundamentals simulation, polarity and polarity management in detail. It proceeds to discuss how polarity and polarity management relates to the management of the Marketplace Business Fundamentals simulation. The paper focuses on a particular polarity “cost and quality” that can exist In the Marketplace Business Fundamentals simulation by providing an overview and step processes on how to manage it.
It uses credible sources and an accurately completed polarity map with comprehensive explanations to help In understand the polarity (cost and quality) and polarity management. I OF5 The Marketplace Business Fundamentals simulation is a team orientated project that entails the team members to cooperate with one another so as to make crucial business decisions. To most, this simulation is perceived as an insightful tool that teaches various people from all walks of life that do not necessarily have the same business perspective to be able to work cooperatively together.
Only $13.90 / page
With this said, in ost organizations; there are certain competing values that need each other over time in order to achieve a greater purpose and they are referred to as polarities; thus these polarities have to be managed effectively and efficiently. There are several common types of polarities that may be found in an organization; in the Marketplace Business Fundamental simulation the team is faced with a few polarities like; planning and taking action, decentralization and centralization, critical analysis and encouragement, cost and quality.
To elaborate further on the polarities and polarity anagement identified in the Marketplace Business Fundamentals one has to explain polarity and polarity management in full, in doing so, a question arises; what is polarity and polarity management? Polarities are defined as interdependent opposites that function at its peak when both are present to balance with each other and occur quite naturally in almost every business organizations (Welp).
Barry Johnson’s book Polarity Management: Identifying and Managing Unsolvable Problem, he proposes that “many issues we define as problems to be solved are actually polarities which have interdependence and need to be managed not solved. They are pressing issues that need to be dealt with due to the fact that it cannot exist independently, it would also entail more support for the initial issue. However, polarities should not be confused as problems because they cannot be fixed rather, they can only be managed.
Most organizations are with an array of perplexing problems and to ensure the smooth running of things, it is their Job to appropriately pinpoint and categorize these problems; this is known as polarity management. A potent way to pursue this unique approach is by utilizing a set of principles and tools. Polarity management is usually used when there is a problem that involves two poles that are interdependent.
This useful tool is used in pinpointing, understanding and managing difficulties that creates the most of polarities to take advantage of positives and diminish negativities. It can be a very powerful tool when used at the right place and time but one has to determine what the polarity is, what solution would be suitable, where the solution is required, and a proper strategy to get to a they are: Outline the Issue/polarity Identify key stakeholders Create a polarity map Understand how polarities work
Assess how well this polarity is working Develop a plan and early warnings to manage this polarity In the Marketplace Business Fundamentals simulation, a polarity that poses a greater challenge is cost and quality. The main goal in the simulation is to start a new company that will enter the microcomputer business and the team members have to make critical business decisions that will enable the company to thrive and be the best competitor in the marketplace.
To ensure that the goals are reached successfully, the management staff/company has to make decisions like they would in the real world. Like most business, a strong mission statement is required so as to gain the trust of the customers and we can go about this by simply reviewing the needs of the company’s target markets and in our case, Workhouse and Travelers; both want high quality and affordable prices. When we review the needs of the customers, creating a mission statement should be easy.
The key to success of any business is to give the customers what they want. This can also be achieved by reviewing the needs of the customers; so questions like, do they want a low cost or do they want high quality computers? How can the company achieve this without putting themselves at a disadvantage and at the same time pleasing the customers? The strategy to successfully managing this polarity is to try to balance a lower cost with a higher quality relative to what the market is demanding.
The company has to keep in mind that they need to focus on how they can achieve a high level of quality computers whilst keeping the cost of the product relatively low instead of concentrating on how changing one polarity will affect the other; this is where the 6- step process of managing polarity come into play but first, we start by defining the ssue which is cost and quality. The company needs to achieve the production of high quality computers with low costs. Then we identify the stakeholders and in our case it is Workhouse and Travelers.
Then we go ahead to create a polarity map which is provided below. The Polarity Map Market Leader 1. Larger target market 2. Larger profit margin 1. Cutting edge 2. Innovative 3. Competitive 4. Cost Quality Expensive Smaller target market smaller profit margin Poor quality Lack of innovation Not competitive Definite Failure The polarity map identifies the upsides and downside of each pole which leads to a hole picture of the polarity to be managed. The upside of this polarity is that the company becomes a market leader while the downside is that the company is bound to fail.
On the upper left column, the benefits of cost are listed while the detriments are listed on the bottom left column. The upper right column shows the benefits of producing a higher quality product and the bottom column shows its detriments. After creating the polarity map, the company (management stafO has to really understand the whole concept behind polarity keeping in mind that they are interdependent opposites. ” Then the next step is to assess how this polarity is work and finally, develop a plan that will successfully manage this polarity.
The strategy to manage the polarity is to think outside the box, figuring out ways to look to process improvements, materials, human resources, and marketing to cut cost that will permit the company to increase the quality of product in pursuit of being a market leader and best competitor in the marketplace. When a company embraces polarity management one not only sees things coming together but also advancing with hange and taking advantage of new opportunities while at the same time embracing knowledge and experience that can only come with stability and traditions.