2.
Anchoring bias:
● Consumer: Bases value on the first price seen.
● Company: Shows high original price, then offers discount to seem like a good deal.
Confirmation bias:
● Consumer: Reads only good reviews to confirm their choice.
● Company: Uses ads that support what customers already believe about the product.
3.
→ I believed a product was the best and ignored bad reviews.
→ I bought it and was disappointed.
→ This is called confirmation bias.
1.
A geocentric approach treats the whole world as one market.
● McDonald’s adjusts menus (e.g., McPaneer in India).
● Coca-Cola uses global ads with local languages.
● Nike features local athletes in different countries.
→ This shows respect for cultural tastes and increases global sales.
2.
Ethnocentric thinking assumes “home country knows best.”
● Products may not fit local needs.
● Marketing messages may not connect.
● It shows lack of respect for local culture.
→ This reduces success in new markets because this mindset prevents businesses
from adapting
IKEA once used an ethnocentric approach by selling the same furniture worldwide,
assuming all customers had the same needs.
● in the U.S., customers complained the beds were too small.
● In China, IKEA first struggled because their self-assembly model didn’t fit local
preferences.
3.
I learned culture through school, media, and travel.
In high power distance countries (e.g., Japan):
● Employees rarely question bosses.
● Decisions come from top-down.
● Teamwork may be formal and distant.
→ It affects trust, speed, and collaboration.
4.
Franchising controls more (brand, system), but costs more.
Licensing is cheaper but gives less control.
→ Usually, licensing is less risky.
1.
→ High workloads, short deadlines, and complex tasks increase stress.
● No time to rest causes burnout.
● Deadlines harm work-life balance.
● Complex tasks make people feel overwhelmed.
● skipped meals and sleep, leading to burnout.
● no time for family or hobbies, hurting my work-life balance.
2.
Job security (afraid of layoffs),
Status or roles (worried about being replaced),
Comfort zones (fear of learning new systems or skills).
3.
Internal và external ( coi trong file summary )
4.
→ A crisis like COVID-19 forces fast decisions and removes resistance.
● Teams are more willing to accept change to survive.
● Management acts quickly without delay.
● Example: Schools quickly adopted online learning.
5.
Internal factors like budgeting, staff scheduling, or inventory are easier to plan for because
companies can control and monitor them directly.
6.
Use flexibility and risk management.
● Example 1: Natural disaster → company uses remote work tools.
● Example 2: Government policy change → firm adjusts prices or changes suppliers.
→ Being proactive and adaptable helps reduce the impact.
When shaping company culture, what key elements help adoption?
→ Clear values, leadership support, and employee involvement.
● Clear values guide behavior and decisions.
● Leaders must model the culture to set an example.
● Involving employees builds trust and commitment to the culture.
Why is it important for employees to introduce the company to others?
→ Employees are brand ambassadors.
● It shows pride and belief in the company.
● It helps attract talent and customers.
● Consistent messages build a strong company image.
1.
Horizontal integration
→ Horizontal integration means acquiring or merging with companies in the same industry.
● Facebook + Instagram (2012): Facebook gained more users and ad revenue by
buying a competitor in social media.
● Disney + 21st Century Fox (2019): Disney expanded content and gained more
control in entertainment.
● Marriott + Starwood Hotels (2016): Marriott grew its hotel brands and global customer
base.
2.
Diversification into new industries
→ Diversification helps reduce risks and open new revenue sources.
● Amazon: From books to cloud computing (AWS), now earns big from tech services.
● Apple: Started with computers, expanded into phones, wearables, and services like
Apple TV+.
● Sony: Makes electronics, but also music and movies – helps balance profits if one
area struggles.
3.
Risks of excessive diversification
● Lack of focus: When a company spreads into too many industries, it may lose sight of
its core strengths. For example, if a tech firm starts investing in unrelated fields like
food or fashion, it may underperform in both.
● Operational complexity: Managing different industries requires different skills,
systems, and strategies. This makes operations harder to control, leading to
mistakes, slower decisions, and higher costs.
● Weakened competitive advantage: Without deep expertise in one area, companies
may fail to innovate or keep up with competitors. For instance, a company that used
to lead in smartphones may fall behind if it shifts too much attention to unrelated
products.
→ In short, diversification without a clear strategy can damage a company’s brand, reduce
efficiency, and make long-term growth harder.
Porter’s Five Forces → dùng để phân tích mô hình kinh doanh này có lợi hay ko, có profit
hay không, có nên invest hay startup vào hay ko
1. Threat of new entrants
○ Considering startup cost high or low
○ Low brand recognition
○ Is it easy for new competitors to join the market or not
2. Threat of substitutes
○ Easy to replaced or substituted or not, people can choose other popular
brand
3. Bargaining power of buyers
○ Many options online, so customers can compare price, quality, and reviews.
→ Customers have strong bargaining power.
4. Bargaining power of suppliers
○ Supplier có strong hay limited control
○ Based on the materials are easy to find or not
5. Current rivalry
○ Many sellers offer similar products.?
○ Hard to stand out without a strong brand or unique design.?
→ Very strong competition in the market.
Imagine you are starting a new business in a highly competitive industry. How would
you go about identifying and analysing your potential competitors? What factors
would you consider in assessing their strengths and weaknesses?
● Identify competitors: Use Google, industry reports, and social media to find direct
and indirect competitors.
● Assess pricing, branding, and customer base: Compare their product quality,
prices, customer reviews, and social media engagement.
● Evaluate operations: Check how fast they deliver, their customer service, and
product availability.
● Understand market position: Look at their market share, partnerships, and brand
reputation.
● SWOT analysis: Identify each competitor’s strengths, weaknesses, opportunities,
and threats.
Should you start your business if you haven’t developed a plan?
● A business plan is essential. It provides direction, outlines goals, and helps secure
funding.
● Without a plan, businesses often struggle with budgeting, targeting customers, and
adapting to challenges.
● You should not start without at least a basic plan to define your value proposition,
strategy, and costs.
Can you think of any real-life examples where a lack of financing hindered the
feasibility of a business idea? How could those challenges have been overcome?
● Example: Many tech start-ups fail because they cannot afford product development
or marketing, like Quibi, a video-streaming platform that shut down despite raising
money, due to poor financial planning.
● Solutions: Start small with MVP (minimum viable product), seek angel investors or
crowdfunding, and apply for grants or government support.
Mở rộng cửa hàng -> What is a strategic decision you may apply to help the daily
operation?
A good strategic decision is to use a centralized digital management system (like POS
software) to monitor sales, inventory, and staff at both shops. I would also appoint a
store manager for the new location. This ensures smooth daily operations, better
control, and helps me focus on growing the business.
● Implement a POS system that syncs inventory, sales, and staff performance
between both locations.
● Hire and train a branch manager to handle daily tasks while you focus on overall
strategy.
● Standardize operations to ensure consistency in service, menu, and branding
across locations.
● Use digital marketing to promote both branches and attract local customers
efficiently.
Three conflict examples from the PM course:
Dysfunctional
● Lack of clear division of labor: Many tasks are duplicated or missed because no one
is clearly responsible, causing delays.
● Disputes over leadership: Two members want to be the team leader, leading to
conflict, the team loses unity when making decisions.
Functional
● Debate on cafe design: One friend wanted a minimalist style, the other wanted a
vintage style. The debate helped the group combine the two to create a unique space
that would attract more customers
● Marketing differences: One wanted to focus on Instagram, another suggested adding
TikTok. This allowed the team to have a more effective multi-channel marketing
campaign.
Process Conflict
● There was disagreement over how to divide tasks. Some members felt the workload
wasn’t balanced, while others didn’t agree on the workflow order or deadlines.
Why dysfunctional conflicts are inevitable ( ko thể tránh )
● People have different personalities, priorities, and work styles.
● Stress, pressure, and miscommunication often trigger them.
● Persistence factors: ( yếu tố dai dẳng )
○ Lack of trust
○ Poor leadership
○ Unclear roles or goal
If you observe the same problems during your visit to the next store, what potential
underlying issues might be causing these behaviors?
I would consider that the company policies might be unclear or ineffective, or that the
training program hasn't been impactful enough, so I would review and improve both to better
guide employee behavior.
What methods or tools would you use to regularly check and ensure the smooth operation of
the stores? Describe how you would implement these methods.
● Regular store visits & audits (using checklists/apps).
● Performance data analysis (POS, CRM reports, dashboards).
● Regular communication with store managers (1-on-1s, team meetings).
● Inventory management systems & checks.
● Customer feedback mechanisms (surveys, online reviews).
Considering the challenges faced by the employees, how would you balance the need for a
positive work environment with the importance of maintaining professionalism and high
customer service standards?
● Clear expectations and thorough training on standards.
● Empower and trust employees with decision-making.
● Lead by example with professional conduct.
● Fair policies and consistent procedures.
● Foster teamwork and mutual support.
● Focus on employee well-being (workload, breaks).
What strategies could you implement to foster a culture of mutual trust and friendship among
employees while ensuring a strong focus on customer satisfaction?
● Team-building activities (social events, workshops).
● Open communication and transparency (meetings, feedback channels).
● Shared goals and celebrations of successes.
● Empowerment and recognition of employee contributions.
● Customer-centric training and culture emphasis.
● Leading with empathy and fairness.
a) Using Attribution Theory, I would avoid making immediate assumptions and first try to
understand whether Maria’s recent performance issues are caused by internal factors
(e.g., lack of motivation, personal issues) or external factors (e.g., workload pressure,
team conflicts, or health problems).
I would arrange a private and supportive one-on-one meeting with Maria to express
my concerns and listen to her side. If it turns out to be due to external causes, I
would offer support, such as adjusting her workload or providing temporary flexibility.
If the cause is internal, I would work with her on a performance improvement plan,
including setting clear goals, regular check-ins, and possibly suggesting professional
counseling or HR support.
The goal is to help her recover her performance while showing empathy and
maintaining team morale.
b) Yes, the approach would differ slightly. Since Jason is a new employee, his behavior
might stem from a lack of familiarity with the company’s culture, expectations, or
workload. I would first have a conversation to understand his perspective and check
if proper onboarding and training were provided. Then, I would clarify performance
expectations and offer support to help him adapt.
Unlike Maria, who has a strong track record, Jason has not yet built that history of
performance, so more structure and guidance may be needed. While both cases
require understanding the root cause and avoiding quick judgment, the difference lies
in experience and past performance. Maria’s case leans more toward recovery and
support, while Jason’s focuses on guidance and learning.
a. If I were the owner, I would approach the customer politely and ask if there was an issue
with the meal. I would offer a discount or a replacement to show concern. Later, I’d brief the
staff to pay closer attention to uneaten dishes and train them to check in with customers
proactively. I’d also discuss the issue with the chef to review the dish’s quality and
preparation.
b.
As a manager, the key areas needing attention include:
● Customer service training: Staff must be trained to observe and respond when food
is left uneaten.
● Communication: Strengthen team coordination between servers, kitchen staff, and
the manager.
● Quality control: Regularly check the taste and freshness of dishes.
Feedback channels: Create simple ways for customers to share feedback during and
after meals.
c.
To encourage feedback:
● Ask servers to politely check in with customers during the meal.
● Place feedback cards on tables or include a QR code linking to an online survey.
● Train staff to be approachable, attentive, and non-judgmental.
● Offer small incentives like a discount on the next visit for leaving feedback.
Creating a warm, respectful, and responsive environment will help customers feel more
comfortable expressing concerns.
d.
Poor handling can damage the restaurant’s reputation, especially through word of mouth or
online reviews. It may lead to loss of trust and customer loyalty.
Strategies to improve:
● Train staff to act quickly and kindly when issues arise.
● Regularly monitor and respond to feedback.
● Show appreciation for customers who speak up.
● Use complaints as learning opportunities and update internal processes accordingly.
e.
For a negative online review, I would publicly respond with empathy and professionalism,
such as:
“We’re truly sorry you had an unpleasant experience with our pasta. This is not the standard
we aim for. We appreciate your feedback and are already working with our kitchen team to
ensure this doesn’t happen again. We’d love the chance to make it right—please reach out
to us directly.”
Internally, I would:
● Review the issue with the chef and staff.
● Conduct a tasting of the dish in question.
● Introduce quality checks and staff reminders about following up with customers when
issues are suspected.
a.
This situation violates the Unity of Command principle, which states that an employee
should report to only one direct supervisor to avoid confusion, conflicting priorities, and
reduced accountability. Emma receiving instructions from both Michael and Alex creates role
conflict and inefficiency.
b.
Emma should not choose to prioritize one manager over the other on her own, as that may
cause offense or workplace tension. Instead, she should openly communicate her situation
to both Alex and Michael and request a joint discussion involving a higher-level manager
(e.g., department head or CEO) to clarify roles and expectations.
She should explain her workload honestly, highlight the overlap and time conflicts, and ask
for task coordination or a clear decision on priorities. This approach shows professionalism,
avoids bias, and promotes teamwork and clarity.
c.
To support employees like Emma, the organization should:
● Clarify reporting lines for cross-functional roles.
● Appoint one final authority or a liaison manager for joint projects.
● Create a workload balancing system that allocates time transparently across
departments.
● Improve communication channels through regular inter-departmental meetings or
shared task-tracking platforms.
● Implement clear project charters that define responsibilities, expectations, and
supervision for temporary assignments.
These improvements help reduce confusion and enable better collaboration in a matrix or
cross-functional organizational structure.
a.
If there were no CCTV recordings, I would still conduct an internal investigation by talking to
staff members individually to gather information. Since the manager’s action is unethical, I
would report the situation to higher management or the company’s HR or ethics committee.
Sharing stolen money is a serious violation, and it must be handled professionally, even
without hard evidence.
b.
To prevent such ethical breaches in the future:
● Install CCTV cameras in key areas like the cash register.
● Set up clear protocols for handling theft and misconduct.
● Train all employees and managers on ethical behavior and consequences of theft.
● Make it clear that any future incidents will be reported to the police or relevant
authorities to ensure accountability.
C.
● Strategies thì nằm ở phần encouraging ethical behavior trong file
● To ensure understanding, all employees should sign acknowledgment forms after
training and receive regular updates and refreshers.
Reflect on a real-life situation where a manager prioritized mutual trust over relevant skills:
● Scenario: In a startup company, the manager hired close acquaintances with whom
they had a strong trust relationship, even though these individuals lacked the
required technical skills.
● Impact:
○ Positive: High morale, strong communication, and loyalty.
○ Negative: Project delays due to lack of expertise, high training costs, and
suboptimal performance.
Advantages and disadvantages of prioritizing skills over mutual trust:
● Advantages:
○ Higher productivity and technical efficiency.
○ Tasks are completed faster with minimal guidance.
○ Greater innovation due to expert input.
● Disadvantages:
○ Lack of trust can cause miscommunication or conflict.
○ Team cohesion may be weaker.
High turnover if team members don’t feel valued or supported.
● Example:
○ A company hires top-performing individuals from various departments to
create a high-skill project team. While output is strong at first, personality
clashes and lack of alignment lead to frequent disagreements and rework.
‘meeting expectations’ versus ‘not exceeding expectations,’ even when the actual
performance level is equivalent. How does the framing of this feedback play a role in
the employee’s response?”
The framing of feedback affects how employees perceive themselves. “Meeting
expectations” sounds neutral or positive, encouraging motivation. But “not exceeding
expectations” emphasizes shortcomings, potentially demotivating the employee. Though the
performance is the same, the negative frame can lower confidence and engagement.
