Operations Strategy And Management In Organizations Cheap Mba Definition Essay Help

Introduction

According to the expert perspective, operations management encompasses all organizational operations. The management encompasses a vast array of operations, including quality control, logistics, evaluation, managing procurement, document control, and product design and production management (Skills and Practice). Operations management is distinguished as the management of organizations and/or processes that produce and/or provide goods and/or services. In addition, it implements the rules and daily tasks required to bring an organization's customers, employees, and management together (Dictionary).

According to the expert analysis, in order for an organization to be successful, it must concentrate on the outcome, which can vary greatly based on the services rendered and the products produced. Let’s take healthcare as an example; the product is long-lasting, making this service accessible in advertising must be cost-effective, and via great quality and high standards, this will win over patients. The organization's first priority should be to plan the services they will provide based on the community's needs.

Creating remarkable that already exists or is given by a nearby hospital does not typically result in a successful hospital. The purpose would be to plan for a suitable place where high-quality treatment and a commitment to ideals can be attained.

Operations Management is crucial to fulfilling Tesco's core presentation objectives (Rad, P.F. & Levin, G, 2005). Whether the current operation purpose is to improve customer service or boost productivity, Tesco's capital utilization will experience a significant decline. As a result, there have been a number of ground-breaking advancements in Operations Management that have necessitated the deployment of Tesco's capital in a radically different manner in order to achieve a substantial performance improvement. Tesco is a successful example of operations management; yet, our analysis reveals that their operations management could be improved.

Undoubtedly, this paper focuses on the relationship between commerce strategy and human resource management strategy, as well as the impact that this relationship has on the presentation of Japanese subsidiaries operating in the United States (Amin, A. and Thomas, D, 2002). First, we offer a hypothetical framework that includes new ideas in strategy and international human resource management. Then, we aim to provide information on the linkages between enterprise-level strategies and human resource management strategies and outcomes. We then test this replica in a research of commerce strategy-HRM links in sixty-four Japanese subsidiaries with U.S.-based headquarters.

If we evaluate, we find that this study centered on the fact that the second advantage supplied by this learning is the knowledge it provides regarding organizational action in circumstances of extreme uncertainty (Jensen, A.J. & Sage, A.P, 2000, 33-61). [Baird & Meshoulam 1988; Lengnick-Hall & Lengnick-Hall 1988] The current hypothetical assumptions underlying intellectual and experiential study on the relationships between HRM practices and commerce strategy are ones of unanticipated events.

These assumptions are dual in nature. First, it is unclear if the variety and combination of human reserve techniques are constrained by a company's precise strategy, which is itself constrained by ecological restrictions. Second, it is uncertain if organizations that achieve a tighter fit between ecological restrictions, strategy requirements, and HRM events will outperform those that do not (Anderson, J. R, 2001). Achieving a fit between environment, strategy, and HRM is difficult for the majority of industry units under normal conditions. Under conditions of increased variety and uncertainty, which are confronted by multinational corporations, the difficulty is exponentially larger.

Regulatory differences between the home state and the host state, cultural differences between the head office employees and the host state labor force, and physical distance from the close relative corporation all impart substantial ambiguity to the behavior of ecological scanning, strategy formulation, and strategy implementation. Obtaining fitness under these settings is likely to be simultaneously more important and more difficult.

Manager of operations for the organization

The criterion for organizational operations managers' success (or failure) may be problematic, despite the fact that they play one of the most crucial and essential roles in the release systems. In addition, the risky function of the operations executive has been treated lightly during its expansion. Consequently, the competencies and features of physical condition care operations managers are unique (Antonelli, C, 2005). In all scientific fields, a competent operations executive must pursue these unique duties. The operations manager is responsible for providing the necessary instruments for transporting treatment to physicians and all other transport personnel. Without a person's equipment, very little physical condition care may be administered.

Management function's influence on operations management

Planning is the primary objective of operations management. An organization must map out its objectives and establish its priorities; this allows management to determine and distribute the workload. If an organization lacks planning, it will be unaware of the results it is achieving and has a high likelihood of failing quickly. Planning determines what must occur in the future and generates the deed diagram.

Organizing is the following phase and plays a key role for work to be completed within the framework of operations management (UoP Simulation, 2007). This involves allocating and allocating capital to accomplish the aims and objectives identified during the planning procedure. Within the context of this objective, the workload can be divided according to separation, expertise, and classification. Planning maximizes the utilization of the resources required to carry out plans efficiently. The administration manages and monitors the development of each relevant collection and delegated responsibilities.

After the plan is input and the organization is complete, the most significant aspect of management is creating and influencing the staff's behavior. Employees want leaders who can effectively communicate with them and guide them toward the common goals they share. Management must have the abilities necessary to motivate personnel and instill confidence in high-performance. This can eventually lead to a high pace of production and a profitable business.

Monitoring and adjusting the resources in order to continue attaining the goals and objectives is the controlling purpose (Lok, P., Hung, R., Walsh, P., Wang, P., & Crawford, J, 2005). This, like the others, plays a key role, and effective decision-making control must always be followed by ongoing feedback and the correction or revision of the initial plans. If this aim were removed, the organization would be unable to progress or generate in the future.

Effective management is achieved by sequentially executing the four management functions of planning, organizing, leading, and controlling. Managers should be knowledgeable about the four functions of recruitment, physical resources, and order. These four functions of management collide with the operations management hypothesis, which examines the entirety of an organization's activities.

Planning

Planning is the selection of priorities, consequences, goals, and objectives, as well as the consideration of how to accomplish these outcomes (Skills and Practice). Typically, planning entails determining the desired goals, objectives, and strategies. This rate determines what must occur in the future and then develops the deed plan that is most appropriate. Prior to determining the amount of capital required to achieve the goals, management wishes to make a decision. Planning might be difficult for nearly everyone, but ultimately saves time and money. Scheme planning, personnel planning, publicity, promotions, and business planning are examples of planning.

Organizing

Organizing entails allocating and configuring money to fulfill the aims and objectives identified during the planning phase (Skills and Practice). In this approach, organizational charts or other methods may be used to establish the practical responsibilities and a rough estimate of the required resources. Organizing maximizes the utilization of the resources required to carry out plans efficiently. Management manages and monitors the growth of each valuable collection and the assigned duties. Organizational examples include the organization of workplaces, recruitment, and processes inside an organization.

Leading

Leadership involves establishing authority and persuading the population to follow the director's chosen course of action. The director will determine and monitor the operational teams and ensure that his or her tasks have been approved in accordance with organizational objectives. In the most critical job, management must have the ability to motivate their employees and encourage high-quality performance.

Controlling

Analyzing reveals that this is the operational and specialized coordination, monitoring, and adjustment of capital and processes to achieve predetermined goals and objectives (Skills and Practice). Managers will guarantee the implementation of key tasks in accordance with organizational objectives (Barney, J, 2003). They must also communicate with all employees the organization's objectives and strategy in order to keep them motivated and attentive.

Supply Chain Administration

Supply chain management (SCM) has gained a great deal of academic and trade press attention in recent years. For many chief executive officers (CEOs), the moment has come to focus on their supplier base and embrace the SCM concepts. The resource-based approach to planned management posits that a company's diverse resources and capabilities can provide competitive advantage. Valuable, scarce, difficult-to-replicate resources that can be manipulated by the business can generate persistent competitive advantage and outperform normal financial performance. Numerous management experts assert that businesses who learn to expand their organizational supply chain management will have a significant competitive advantage. This study examines Nokia's success in the organization's supply chain in Turkey (Bashein, B. J., 2004, 7-13).

In a world where products are duplicated almost as soon as they are introduced to the market, developing and maintaining a competitive advantage is the primary concern for CEOs today. Consequently, there is a robust correlation between how organizations manage their employees and the financial results they obtain.

Studies of five-year staying power rates of initial public offerings; studies of output and stock price in large samples of corporations from numerous industries; and extensive research on the auto, clothing, and other industries indicate that implementing high-performance management practices can result in substantial gains of approximately 40%. A secondary objective of this article is to examine the future of supply chain capability and the variables that foster its expansion. If members of a supply chain are to prosper together, they must acknowledge that a learning environment increases both the overall efficacy of the supply chain and the competence of its members (Stump, R. L., 2001, 29-48).

The relationship that a company has with its suppliers is an important management practice for a number of businesses. Supply chain partnerships are relationships between two or more self-governing entities in a supply chain in order to accomplish specific goals. Generally, these agreements are formed to enhance the financial and operational profile of each channel. These objectives are accomplished through savings in total expenses, decreased inventories, and increased levels of shared knowledge. These alliances can develop over time and result in improved service, technical innovation, and product design.

System of Organizational Operations

Analysis of Organizational Performance "When their presentation dimension systems provide them with relevant, timely, complete, and accurate data, organizations can more willingly monitor and alter the position of their operations in dynamic, fast-paced environments" (Jensen & Sage, 2000). Professor Orraca instructed his class to analyze and contrast two simulations about presentation metrics and organizational presentation (Barney, J, 2001).

The first imitation closely listened to the desires of the University of Santagreen (UoS), whereas the second thoroughly listened to Thistle Woods Hospital. This article will discuss the indicators of every organization, the metrics used for capacity, the established principles for measures, the influence of enhancement on other sections of the company, and a breakdown of systems-related ideas. Let's examine each region and how each organization deliberates during the imitation.

Performance Metrics

Performance indicators allow businesses to quantify their objectives. Indicators can help an organization measure its progress toward these objectives. In addition, they can provide insights for civilizing procedures and determining the demands and happiness of customers. To be effective, performance indicators must be specific, quantitative, attainable, practical, and timely (Wikipedia, 2007). In addition, to provide context, indications should be linked to the organization's mission statement or corporate objectives (UoP Simulation, 2007). What presentation indications do UoS and Thistle Woods utilize?

The mission of UoS is "the pursuit, promotion, and dissemination of knowledge through excellence in instructional processes." The chancellor was concerned about whether the college was situated for the changing educational environment or whether they were losing their reputation for excellence (Kotabe, M, 2003). They identified three key presentation indicators: the Graduation Rate indicator, which is considered by all universities; the Faculty-Student Ratio, which is a major differentiator and a risky marketing tip for elite universities; and the proportion of minorities in leadership positions, which attracts a more diverse academic body.

Analysis of Operations administration

Operations Policy

According to Slack et al. (2004), operations strategy is defined as "the total prototype of decisions that shape the long-term capabilities of any type of operation and their contribution to overall strategy." According to Slack et al. (2004), operations presentation objectives reveal the well-being of the operation's stakeholders. Regarding Tesco, customer satisfaction is of paramount importance to their business. Therefore, in order to satisfy its consumers and increase its competitiveness, Tesco's operations presentation objectives focus mostly on price, quality, speed, dependability, and adaptability. In addition, they will be explored in detail as follows:

Tesco analyzes over 10,000 food prices at Asda, Sainsbury's, and Morrisons every week to ensure that its consumers enjoy affordable prices every day (See Appendix 2: Table 1). In addition, initiatives were taken to reduce costs in order to ensure that the employment process is improved, simplified, and less expensive (Amstrup, N, 2003). For instance, Tesco's effective supply chain is due to the productive implementation of a proper information skill G.O.L.D application suite (Kogut, B, 2004).

This software grants Tesco complete command over the storage stack. In addition, the routine order suggestions and shop optimization processes facilitate quick and adaptable commerce with insignificant logistic costs (Kocevar, 2003). Therefore, by providing inexpensive goods, Tesco will be able to reduce its prices in order to increase its sales volume or increase its output at existing volume levels. And on the interior, cost performance is aided by the presentation quality of the other presentation objectives.

As Slack et al. (2004) note, perfection is a crucial objective for all operations, as it is a significant determinant of consumer approval or dissatisfaction, and excellent operations can cut costs and increase dependability (Metrics, 2007).

For a grocer, excellence could indicate that products are in good condition.

Introduction To Management Cheap Mba Definition Essay Help

Introduction

Culture, both organizational and national, has a significant impact on the functioning of every firm. In the pursuit of our daily activities and ambitions, it is all too easy to ignore the less rational and practical, more symbolic social fabric that gives ordinary life meaning. In order for individuals to function in a particular context, they must have an ongoing understanding of that context's nature in order to act. As stated previously, culture can be defined as a system of intersubjectively accepted meanings operating for a particular group at a particular moment. This system of terminology, forms, categories, and images translates individuals' circumstances to them. Symbols may be composed of objects that point beyond ourselves.

Thus, a red light indicates that a driver must stop, and it is conceivable to force people to risk their lives under the banner of their national flag. Symbols are more than that, however. In reality, each system, seating arrangement, and visit can be interpreted as symbolic behavior. Each day is a fresh situation, and each encounter is a new setting for dramatic action. In the immense symbolic drama of a successful firm, no events or players are then too small to disregard. According to Jones (2006: 113), "a multicultural society may be an interesting living environment, but when it comes to the workplace, homogeneous cultures are more likely to generate optimal profitability." This remark is accurate since organizations are based on distinct but comparable and homogeneous beliefs, traditions, and strategic goals, and multicultural or multidimensional contexts introduce difficult-to-manage disagreement and contradictory situations.

According to Hofstede, there are similarities and contrasts between culture and personality. Culture and personality might be difficult to discern at times. They interact, and personality tests can sometimes be used to determine cultural features (Hofstede, 1980, p. 26). Some authors argue that companies, like persons, can be described as warm, aggressive, friendly, open, inventive, or conservative. This closely resembles what has historically been referred to as culture. Nevertheless, there are significant differences between personality and culture. At the level of the individual, a person's personality is more integrated than his or her culture (Olson & Torrance 1996). The former is more harder to abandon because it is an integral component of the individual's identity. A person who is calm and attentive, for instance, may have difficulty acting in an animated and agitated manner. On the other side, it is relatively simpler for him or her to violate a cultural norm (Feely & Harzing 2008). Whether or not this may be done easily depends, of course, in part on the characteristics of a particular personality and society. However, more importantly, this does not imply that culture is something that may be discarded at any time, especially if culture is primarily unconscious. Neither is personality modification simple in practice. Assume that a person has held the view that humanity is essentially nice throughout his or her whole life. Such a person cannot simply switch to a more cynical viewpoint asserting that good and evil depend on circumstances (Bhaskaran & Sukumaran 2007).

Jones is correct in stating that a homogeneous culture is preferable for organizational performance because cultures are not individuals; they are integrated wholes whose logic cannot be comprehended using words that describe the dynamics of individual personalities. Intersubjective logic is distinguishable from subjective logic (Feely & Harzing 2007). In organizations, for instance, social and psychological contexts might be separated. Based on the theory that a culture's language reflects its culture, a person would not need to spend more than a few hours in each company to notice the difference (Fish, 2008).

Language and culture are intrinsically linked. It could even be described as a "cultural mirror." Language consists of arbitrary symbols with meanings that, like other cultural manifestations, must be acquired and that, when following specific norms, are capable of communicating complex messages (Sorrentino & Higgins 1986). Language encompasses more than just spoken words; it also includes nonverbal components. Messages are transmitted through the use of words, the manner in which the words are pronounced (for instance, the tone of voice), and nonverbal means such as gestures, body position, and eye contact. It has been estimated that only around 30% of communication between members of the same language community is verbal. Nonverbal parts of language exhibit arbitrariness as well. Therefore, it is not surprising that the same nonverbal cue can have vastly different meanings in different cultures and that multiple nonverbal cues can have the same meaning in different cultures (Senior, 2002).

An essential principle of anthropology is that language and culture are intimately connected. It is generally accepted that it is impossible to fully comprehend a culture and its manifestations without taking its language (which is also a cultural manifestation) into account, and that it is similarly impossible to comprehend a language outside of its cultural context. Language is a unified structure bigger than the sum of its individual participants. Moreover, language is one of the most intimate and significant defining characteristics of humans. People not only speak, but also think in that language. Its categories are what each person has available for conceiving and comprehending the universe; its framework is the ground for everything but the most fundamental and inarticulate thoughts (Vygotsky 1978). What can be stated and thought is heavily influenced by the available language. If there is no vocabulary to express matters and occurrences, they might not even be observed.

People develop into the unique individuals they are because of the language community in which they grow up. The same is, of course, true for the vast majority of cultural patterns: people become a certain type of person, with a particular language, table manners, carriage, sense of humor, food preference, etc., by being formed by one culture and its manifestations rather than another. The culture, like the language that bears it, is initially forced on the individual, but it gradually becomes an integral part of his or her entire self (Hofstede & Bond 1988). The categories of a language are not officially seen as a limitation on a person's ability to think or express themselves; rather, they are the very tools by which a person can think articulately and express themselves. This model or interpretation of linguistic membership argues, therefore, that conventional differences between the individual and society, between the self and a greater total to which it belongs, are not fixed and mutually exclusive. Rather, they pertain to various facets and views of a same reality. Society is not just "outside" the individual, confronting him or her, but also "inside" the individual, being a part of who he or she is. Society consists of all persons in their relationships, including those with the past. Who a person is distinguishes him or her from everyone else and connects him or her to them. And language both demonstrates and facilitates this duality (Bhaskaran & Sukumaran 2007).

These contradictions may be resolved within a society. As a result of people's fundamental need for order and consistency, assumptions become patterned into cultural wholes that connect the fundamental beliefs about humanity, nature, and our actions. "A culture is a set of interrelated assumptions that form a coherent pattern" (Schein, 1984, p. 4), and it may contain beliefs that are incompatible or contradictory. For instance, a group may believe that all good ideas ultimately originate from people, while yet assuming that groups can be held accountable for the results achieved and that individuals should prioritize group loyalty. Culture provides an individual with a point of reference, an identity, a worldview, and norms of conduct. Everything from the material to the spiritual is profoundly influenced by culture. Even the most fundamental biological requirement, food, has been transformed into culturally defined dishes and menus and has gained distinct psychological characteristics that vary between nations. Nonetheless, visible cultural differences remain in all fundamental parts of living, including dress, furnishings, and games. Culture determines what individuals believe to be essential or unimportant (Jackson 1999).

It is essential to recognize that a corporation's culture is represented in the attitudes and beliefs, managerial style, and problem-solving behavior of its employees. It provides employees with a sense of how they should behave, what they should do, and where they should set their priorities when doing their duties; how to bridge the gap between what is formally ordered and what actually occurs. In addition, it embodies the requirements for success in the company's broader social and business environment. One of the most intriguing parts of culture (perhaps the most intriguing for those who study and practice business) is that it cannot be avoided, and that it predominately influences our normative behavior. Systems of societal norms, values, and assumptions (at the level of a nation) can be found in the center, shared by the majority of the population (Reithel, 2007). These are the result of numerous ecological factors. In turn, these cultural standards result in the formation and preservation of several society institutions. By supporting the current systems of norms, values, and assumptions, and vice versa, these institutions will have a powerful normative impact. The systems of norms, values, and assumptions of significant population groupings have a profound normative bearing on the functioning of societal institutions. Change is primarily external. However, nothing will occur unless certain people of the nation interpret and create meaning through connection with one another (Gundling 2007).

Note that the arrow of external effects points to roots, not societal standards themselves. Infrequently are norms, attitudes, and assumptions modified by direct adoption from the outside, but rather by a shift in ecological conditions, which may be technological, economic, sanitary, or a mix of these. At the organizational (business) level, the mainstream model or interpretation of culture similarly views behavioral patterns as being supported by strong social penalties (norms, rules, and values in the form of constitutive mechanisms) that serve as the normative adhesive of corporate culture. In any case, now that the concept of "culture" is widely accepted, the majority of managers who have attempted to define organizational culture have failed. Typically, such efforts result in a list of eight to ten phrases expressing the informal norms that govern the interaction of management team members (Zhang et al 2007). This may appear useful until the lesson of the pervasiveness of culture in corporate life is attempted to be lived.

The precise nature of culture is also understood differently by different theorists. However, they share one thing in common. They may name themselves cognitive, symbolic, structuralist, or psychodynamic theorists, but they all view organizations as a particular kind of human expression through employing culture as a metaphor. This is in contrast to the prevalent machine and organism metaphors in management, which encourage theorists to regard organizations as intentional instruments and adaptable mechanisms. Culture comprises of fundamental human values, conventions, and assumptions. These norms, values, and assumptions have grown intersubjectively and continue to do so. Even if they must offer significance for carriers to have any significance, they are nonetheless predominantly unconscious. They have an effect on behavior, organizational (or analogous) environment, and other cultural manifestations, but they are themselves immaterial and nonbehavioral (Zhang et al 2007).

National cultures can be addressed independently, but they are also a part of corporate cultures; the former are introduced into the latter by individuals who are members of both groups. The question of how national cultures influence business leadership remains relevant. We cannot avoid the fact that culture belongs to a group as a whole and not to its individuals. It largely determines our behavior and provides us with an anchor, an identity, a social position, and a worldview. Due to the human drive for order and consistency, our fundamental beliefs about humanity, nature, and social activities become patterned into what may be termed cultural "paradigms" (Schein, 1984); these assumptions form a coherent pattern. This pattern or structure is utilized to structure experience; to give meaning to ideas and behaviors. It is conveyed through a variety of channels, including long-standing and frequently unwritten norms, shared standards, and even prejudices.

Within the context of this generic definition of culture, it can be defined as varying slightly from circumstance to scenario. Every such definition becomes, at least partially, a theory, a model, or an interpretation (depending on your fundamental outlook on the aim of research), and it serves a purpose. This is also compatible with the widely held belief that, whether culture is defined broadly or narrowly, it comprises the fundamental norms, values, and assumptions of a human group, organization, or nation (Kitsantas, 2004). Language is a reflection of culture, not a component of culture. Another aspect of culture is determining how deeply rooted its shared characteristics are. Values, for instance, can display or be concealed at varying depth levels (Brown & Collins 1989). On or near the conscious level, they may appear as behavioral norms. On a somewhat deeper level, hidden assumptions — the fundamental beliefs underlying all decisions and acts — may serve as unconscious cultural pillars. Obviously, this does not preclude this worldview from embodying these principles. Values result from examining what works and what does not in the economic environment. This experience may have once been widely shared, but has now been forgotten (McCarthy, 1998).

Shared values serve as a type of unofficial control system that informs individuals of what is expected of them. In this way, values can be more or less prevalent in the sense of being shared by many or few, and more or less potent in the sense of being felt more or less intensely. Pervasive and robust values can have a favorable effect on performance by enhancing dedication and highlighting what need special attention. However, pervasive and powerful values can also have a negative impact: they can be inconsistent, become obsolete, and/or contribute to a large resistance to change, even when change is necessary. Values are essential to daily company operations. What brings principles to life, however, is the knowledge of their significance by every member of the organization. Values alone are insufficient; broad sharing is required.

Introduction

With the advent of globalization and the expansion of businesses across geographies, the competition between businesses has intensified. This has compelled businesses to implement best management practices across all functional areas. The most important component for the success of a business is not only the quality and price of its products, but also the work environment it provides to motivate its personnel. To comprehend the significance of the human aspects influencing the business functions, it is necessary to conduct an organizational study. The organization 'Starbucks Corporation' has been selected for the goal of analyzing the determinants of employee motivation and performance, as well as the collaboration utilised by the corporation.

Starbucks Corporation – a Summary

Starbucks Corporation, the world's most known coffee shop retail chain, has been one of the United States' fastest-growing public firms. The Seattle, Washington-based Starbucks Corporation was founded in 1985. In addition to providing brewed coffees, Italian-style espresso beverages, cold beverages, a variety of complementary food items, coffee-related accessories and equipment, and a selection of premium teas through its various retail stores, the company also purchases, roasts, and sells whole bean coffees through its global outlets. Tazo teas, Starbucks Hear Music compact discs, Seattle's Best Coffee, and Torrefazione Italia Coffee are among the company's brand portfolio (Yahoo Finance).

As of March 12, 2008, the corporation operated almost 16,000 retail locations in 44 countries with 170,000 employees. Customers are attracted not only by the quality of the coffee they offer, but also by the level of customer service and the inviting atmosphere of the business. It is ideal to evaluate the Starbucks instance because the company has a low staff turnover rate of 65 percent, compared to 150 to 400 percent for other industry competitors (Michelli, 2006) The corporation can be viewed as the optimal business model improving staff motivation and performance techniques, and teamwork interaction.

Employee Motivation and Productivity

It has been demonstrated that self-motivated workers tend to be self-satisfied, and that their actions go beyond the official obligations of their jobs. In contrast, employee unhappiness increases the likelihood of unproductive behaviors such as retreat, burnout, and workplace hostility (Spector 1997). Thus, employee motivation has a direct effect on job performance, which eventually has a beneficial effect on employee turnover decisions. When employees are properly motivated to perform better in their occupations, they get job satisfaction and like their work. Consequently, the employees would opt to remain in their current positions. Thus, employee motivation has a direct and beneficial effect on the decisions regarding employee turnover.

It has been demonstrated that knowledge, understanding, and increasing job satisfaction can significantly impact employee motivation and hence contribute to the achievement of corporate objectives. Therefore, any organization interested in accomplishing its objectives must do a thorough examination of the job satisfaction of its employees at all levels and implement programs to increase job satisfaction in order to retain the best personnel.

A higher degree of employee motivation is essential for any organization since it adds to the following distinct benefits for the firm.

Reduced Staff Turnover

Employee motivation is a factor that influences employee turnover. It is essential that employees remain highly motivated, as otherwise there is a risk of losing competent workers, which could have a negative impact on the company's success. As organizations invest enormous sums of money directly or indirectly on their employees, the loss of staff results in financial losses for the company (e.g. training cost).

Improving Work Performance

A high degree of employee job performance can be ensured by raising employee motivation. If staff remain motivated, they will be more productive. Recent study indicates a direct relationship between employee motivation and job performance. Therefore, increasing employee motivation will result in measurable gains in job performance.

Improved employee disposition

Motivation is one of the essential characteristics that has a strong correlation with employees' attitudes toward their organization. Highly motivated personnel generate a sense of belonging to their organizations, which results in increased organizational performance.

Active contribution

A greater level of employee motivation will enable workers to actively contribute more to their work by participating in their occupations. This provides an environment in which employees can achieve their maximum potential. Employees with low motivation tend to exhibit withdrawal behaviors such as absenteeism, tardiness, and passivity, which can contribute to significant employee turnover.

Helping attitude

Motivated individuals with a propensity for helping may contribute to a good organizational environment by assisting co-workers to complete their task on time, hence facilitating the achievement of organizational objectives.

Group Work

A team may be described as a group of two or more individuals engaging for the purpose of achieving a goal. The efficacy of a work team is contingent upon the output of any task accomplished and the personal satisfaction gained by the team members. In any organization, teamwork produces the following practical benefits for both the organization and the team members.

Level of Efforts – Teams typically have more energy and creativity than their individual members. Member Satisfaction – The best aspect of teamwork is that teams tend to eliminate boredom among the members, and the employees' sense of self-worth and dignity is frequently boosted. Expanded job knowledge and skills – by interaction with other team members, team members can acquire more intellectual skills and expertise through teamwork. Organizational responsiveness — By working in teams, employees are adjacent to one another, which increases the likelihood of employees trading positions (Understanding Management)

In order for the team's performance to yield the greatest possible results, it must possess some vital qualities (Robbins & Coulter, 2002). It is essential to develop clear team goals in order to motivate team members to match their own objectives with those of the team. In addition, the team must consist of people with abilities pertinent to the context of the defined team objectives. Mutual trust is also essential among team members, and an open, honest, and collaborative company culture can assist this. (VerenaVeneeva)

Employee Engagement and Productivity at Starbucks Corporation

Howard Schultz, the chief executive officer of Starbucks Corporation, has determined that his company's formula for success includes not only coffee but also the committed performance of highly motivated people. Constant efforts to capitalize on the working experience of employees and provide them with opportunities to advance in the organization are, in his opinion, essential to the success of the business. Starbucks recognizes its employees as "working partners" and provides them with comprehensive training prior to their employment to ensure optimal performance. Starbucks provides an engaging organizational structure that encourages employees to immerse themselves in their roles, thereby motivating them to achieve a new level of performance.

The managers of Starbucks treat their employees with respect and equality, and they refer to both full-time and part-time employees as "partners." The distance between managers and employees is decreased by continuous engagement between managers and employees at even the most fundamental level. According to the organization's mission statement, this enables the company to maintain a well-organized management structure and create a better work environment for its employees.

Starbucks has a well-organized communication system that allows employees to express their concerns on performance-related issues. There are weekly interviews undertaken to analyze the needs of the staff and any other obstacles to their performance. On the employee benefits side, in addition to compensation commensurate with industry standards, the employees are offered a variety of welfare measures, such as health insurance and discounts on goods.

Collaboration at Starbucks Corporation

Teamwork frequently creates a social framework within a business that enables employees to socialize with one another. According to Robbins (2001), the characteristics that influence teamwork are leadership relationship, roles, principles, status, size, composition, and agglomeration power. A well-established structure of amicable relationships between Starbucks' managers and employees facilitates teamwork. Starbucks employees who are identified as partners have the option to participate in policy-related decision-making. This enhances staff morale and teamwork participation within the organization. The organization keeps the number of employees in a retail location to a minimum, which enables employees to become acquainted with one another and recognize themselves as a team through frequent interaction, a key element for teamwork. The company also promotes teamwork by carefully considering and responding to employee comments and complaints. This motivates employees to get more involved in the achievement of company goals and to provide numerous suggestions for enhancing organizational performance.

Suggestions for Enhancement

The following are a few suggestions for increasing staff motivation at Starbucks Corporation:

The formation of employee committees to address welfare measures will assist management in determining the precise needs of the workforce in terms of welfare. The senior management's frequent interactions with the families of the employees will foster a sense of belonging in the workforce. Valuable cash or in-kind gifts commemorating longer service with the organization will motivate employees to remain with the company longer.

Exemplars of Exemplary Practices

The acknowledgement of employee services by the Michigan Department of Transportation (MDOT) is the best example of employee incentive in practice. MDOT is a government multimodal transportation agency. In addition to being responsible for the construction and maintenance of roads and bridges, MDOT is also in charge of public transportation, which includes planes, trains, and buses. (Jan Seegar, 2005) The firm has urged its personnel to provide the highest level of customer satisfaction despite being a government agency. The corporation has modified its overall business strategy to make employee excellence and recognition the most important success criteria, while aiming to promote and communicate employee appreciation on a global scale. (Jan Seegar, 2005) While empowering each person to perform job more efficiently, the firm considers them as successful team members. The firm has established a set of core values that all employees are encouraged to learn and live by. They adhere to the following aspects to make employee recognition effective:

"Adhere to and reinforce departmental principles and objectives. Feature effective teamwork. Recognize improvement and exceptional performance whenever they occur. Combine formal, informal, and everyday ways of acknowledgment. Deliver recognition in a sincere and individual manner. Be prompt. Be straightforward and easy to use. Be adaptable and innovative; be open to make adjustments. Request employee input" (Jan Seegar)

For employee engagement to be effective, the department has introduced a number of awards that will be presented to the best employees, who will be nominated by both customers and employees.

Conclusion

The organizational analysis of Starbucks Corporation, a successful business endeavor, demonstrates that motivation and teamwork are the most critical characteristics for any business organization to recognize in order to sustain the growth and profitability of the firm. This is supported by the best employee appreciation practices at the Michigan Department of Transportation. These examples demonstrate that, in contrast to the traditional principles of management, which emphasize the importance of top management and their leadership qualities for the success of an organization, the appropriate management technique for modern business management should include emotional and financial incentives for employees to achieve the desired outcomes. The rule of the day is that employee motivation and personal happiness take precedence in all management choices influencing the company's business practices.

References

About Starbucks Coffee Company Web.

Jan Seegar, "Communicating Employee Recognition at MDOT," in All Business.

J. Michelli (2006) published "The Starbucks' Experience." New York McGraw­Hill

Robbins, S. P. (2002). Organizational Behavior in the United States.

Robbins, S. P., and M. Coulter, "Management," Sixth Edition, New Jersey: Prentice-Hall, Inc., 2002.

Spector, Philip E. (1997). Satisfaction at work Thousand Oaks, California: SAGE Publications

Having an understanding of Management's 'Teamwork in Organizations' Web.

"Ensuring Effective Teamwork in Organization," by Verena Veneeva Ezine Articles. Web.

Starbucks Corp (SBUX) on Yahoo Finance's "Starbucks Corp" page. Web.

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Introduction To Management Cheap Mba Definition Essay Help

Introduction

Culture, both organizational and national, has a significant impact on the functioning of every firm. In the pursuit of our daily activities and ambitions, it is all too easy to ignore the less rational and practical, more symbolic social fabric that gives ordinary life meaning. In order for individuals to function in a particular context, they must have an ongoing understanding of that context's nature in order to act. As stated previously, culture can be defined as a system of intersubjectively accepted meanings operating for a particular group at a particular moment. This system of terminology, forms, categories, and images translates individuals' circumstances to them. Symbols may be composed of objects that point beyond ourselves.

Thus, a red light indicates that a driver must stop, and it is conceivable to force people to risk their lives under the banner of their national flag. Symbols are more than that, however. In reality, each system, seating arrangement, and visit can be interpreted as symbolic behavior. Each day is a fresh situation, and each encounter is a new setting for dramatic action. In the immense symbolic drama of a successful firm, no events or players are then too small to disregard. According to Jones (2006: 113), "a multicultural society may be an interesting living environment, but when it comes to the workplace, homogeneous cultures are more likely to generate optimal profitability." This remark is accurate since organizations are based on distinct but comparable and homogeneous beliefs, traditions, and strategic goals, and multicultural or multidimensional contexts introduce difficult-to-manage disagreement and contradictory situations.

According to Hofstede, there are similarities and contrasts between culture and personality. Culture and personality might be difficult to discern at times. They interact, and personality tests can sometimes be used to determine cultural features (Hofstede, 1980, p. 26). Some authors argue that companies, like persons, can be described as warm, aggressive, friendly, open, inventive, or conservative. This closely resembles what has historically been referred to as culture. Nevertheless, there are significant differences between personality and culture. At the level of the individual, a person's personality is more integrated than his or her culture (Olson & Torrance 1996). The former is more harder to abandon because it is an integral component of the individual's identity. A person who is calm and attentive, for instance, may have difficulty acting in an animated and agitated manner. On the other side, it is relatively simpler for him or her to violate a cultural norm (Feely & Harzing 2008). Whether or not this may be done easily depends, of course, in part on the characteristics of a particular personality and society. However, more importantly, this does not imply that culture is something that may be discarded at any time, especially if culture is primarily unconscious. Neither is personality modification simple in practice. Assume that a person has held the view that humanity is essentially nice throughout his or her whole life. Such a person cannot simply switch to a more cynical viewpoint asserting that good and evil depend on circumstances (Bhaskaran & Sukumaran 2007).

Jones is correct in stating that a homogeneous culture is preferable for organizational performance because cultures are not individuals; they are integrated wholes whose logic cannot be comprehended using words that describe the dynamics of individual personalities. Intersubjective logic is distinguishable from subjective logic (Feely & Harzing 2007). In organizations, for instance, social and psychological contexts might be separated. Based on the theory that a culture's language reflects its culture, a person would not need to spend more than a few hours in each company to notice the difference (Fish, 2008).

Language and culture are intrinsically linked. It could even be described as a "cultural mirror." Language consists of arbitrary symbols with meanings that, like other cultural manifestations, must be acquired and that, when following specific norms, are capable of communicating complex messages (Sorrentino & Higgins 1986). Language encompasses more than just spoken words; it also includes nonverbal components. Messages are transmitted through the use of words, the manner in which the words are pronounced (for instance, the tone of voice), and nonverbal means such as gestures, body position, and eye contact. It has been estimated that only around 30% of communication between members of the same language community is verbal. Nonverbal parts of language exhibit arbitrariness as well. Therefore, it is not surprising that the same nonverbal cue can have vastly different meanings in different cultures and that multiple nonverbal cues can have the same meaning in different cultures (Senior, 2002).

An essential principle of anthropology is that language and culture are intimately connected. It is generally accepted that it is impossible to fully comprehend a culture and its manifestations without taking its language (which is also a cultural manifestation) into account, and that it is similarly impossible to comprehend a language outside of its cultural context. Language is a unified structure bigger than the sum of its individual participants. Moreover, language is one of the most intimate and significant defining characteristics of humans. People not only speak, but also think in that language. Its categories are what each person has available for conceiving and comprehending the universe; its framework is the ground for everything but the most fundamental and inarticulate thoughts (Vygotsky 1978). What can be stated and thought is heavily influenced by the available language. If there is no vocabulary to express matters and occurrences, they might not even be observed.

People develop into the unique individuals they are because of the language community in which they grow up. The same is, of course, true for the vast majority of cultural patterns: people become a certain type of person, with a particular language, table manners, carriage, sense of humor, food preference, etc., by being formed by one culture and its manifestations rather than another. The culture, like the language that bears it, is initially forced on the individual, but it gradually becomes an integral part of his or her entire self (Hofstede & Bond 1988). The categories of a language are not officially seen as a limitation on a person's ability to think or express themselves; rather, they are the very tools by which a person can think articulately and express themselves. This model or interpretation of linguistic membership argues, therefore, that conventional differences between the individual and society, between the self and a greater total to which it belongs, are not fixed and mutually exclusive. Rather, they pertain to various facets and views of a same reality. Society is not just "outside" the individual, confronting him or her, but also "inside" the individual, being a part of who he or she is. Society consists of all persons in their relationships, including those with the past. Who a person is distinguishes him or her from everyone else and connects him or her to them. And language both demonstrates and facilitates this duality (Bhaskaran & Sukumaran 2007).

These contradictions may be resolved within a society. As a result of people's fundamental need for order and consistency, assumptions become patterned into cultural wholes that connect the fundamental beliefs about humanity, nature, and our actions. "A culture is a set of interrelated assumptions that form a coherent pattern" (Schein, 1984, p. 4), and it may contain beliefs that are incompatible or contradictory. For instance, a group may believe that all good ideas ultimately originate from people, while yet assuming that groups can be held accountable for the results achieved and that individuals should prioritize group loyalty. Culture provides an individual with a point of reference, an identity, a worldview, and norms of conduct. Everything from the material to the spiritual is profoundly influenced by culture. Even the most fundamental biological requirement, food, has been transformed into culturally defined dishes and menus and has gained distinct psychological characteristics that vary between nations. Nonetheless, visible cultural differences remain in all fundamental parts of living, including dress, furnishings, and games. Culture determines what individuals believe to be essential or unimportant (Jackson 1999).

It is essential to recognize that a corporation's culture is represented in the attitudes and beliefs, managerial style, and problem-solving behavior of its employees. It provides employees with a sense of how they should behave, what they should do, and where they should set their priorities when doing their duties; how to bridge the gap between what is formally ordered and what actually occurs. In addition, it embodies the requirements for success in the company's broader social and business environment. One of the most intriguing parts of culture (perhaps the most intriguing for those who study and practice business) is that it cannot be avoided, and that it predominately influences our normative behavior. Systems of societal norms, values, and assumptions (at the level of a nation) can be found in the center, shared by the majority of the population (Reithel, 2007). These are the result of numerous ecological factors. In turn, these cultural standards result in the formation and preservation of several society institutions. By supporting the current systems of norms, values, and assumptions, and vice versa, these institutions will have a powerful normative impact. The systems of norms, values, and assumptions of significant population groupings have a profound normative bearing on the functioning of societal institutions. Change is primarily external. However, nothing will occur unless certain people of the nation interpret and create meaning through connection with one another (Gundling 2007).

Note that the arrow of external effects points to roots, not societal standards themselves. Infrequently are norms, attitudes, and assumptions modified by direct adoption from the outside, but rather by a shift in ecological conditions, which may be technological, economic, sanitary, or a mix of these. At the organizational (business) level, the mainstream model or interpretation of culture similarly views behavioral patterns as being supported by strong social penalties (norms, rules, and values in the form of constitutive mechanisms) that serve as the normative adhesive of corporate culture. In any case, now that the concept of "culture" is widely accepted, the majority of managers who have attempted to define organizational culture have failed. Typically, such efforts result in a list of eight to ten phrases expressing the informal norms that govern the interaction of management team members (Zhang et al 2007). This may appear useful until the lesson of the pervasiveness of culture in corporate life is attempted to be lived.

The precise nature of culture is also understood differently by different theorists. However, they share one thing in common. They may name themselves cognitive, symbolic, structuralist, or psychodynamic theorists, but they all view organizations as a particular kind of human expression through employing culture as a metaphor. This is in contrast to the prevalent machine and organism metaphors in management, which encourage theorists to regard organizations as intentional instruments and adaptable mechanisms. Culture comprises of fundamental human values, conventions, and assumptions. These norms, values, and assumptions have grown intersubjectively and continue to do so. Even if they must offer significance for carriers to have any significance, they are nonetheless predominantly unconscious. They have an effect on behavior, organizational (or analogous) environment, and other cultural manifestations, but they are themselves immaterial and nonbehavioral (Zhang et al 2007).

National cultures can be addressed independently, but they are also a part of corporate cultures; the former are introduced into the latter by individuals who are members of both groups. The question of how national cultures influence business leadership remains relevant. We cannot avoid the fact that culture belongs to a group as a whole and not to its individuals. It largely determines our behavior and provides us with an anchor, an identity, a social position, and a worldview. Due to the human drive for order and consistency, our fundamental beliefs about humanity, nature, and social activities become patterned into what may be termed cultural "paradigms" (Schein, 1984); these assumptions form a coherent pattern. This pattern or structure is utilized to structure experience; to give meaning to ideas and behaviors. It is conveyed through a variety of channels, including long-standing and frequently unwritten norms, shared standards, and even prejudices.

Within the context of this generic definition of culture, it can be defined as varying slightly from circumstance to scenario. Every such definition becomes, at least partially, a theory, a model, or an interpretation (depending on your fundamental outlook on the aim of research), and it serves a purpose. This is also compatible with the widely held belief that, whether culture is defined broadly or narrowly, it comprises the fundamental norms, values, and assumptions of a human group, organization, or nation (Kitsantas, 2004). Language is a reflection of culture, not a component of culture. Another aspect of culture is determining how deeply rooted its shared characteristics are. Values, for instance, can display or be concealed at varying depth levels (Brown & Collins 1989). On or near the conscious level, they may appear as behavioral norms. On a somewhat deeper level, hidden assumptions — the fundamental beliefs underlying all decisions and acts — may serve as unconscious cultural pillars. Obviously, this does not preclude this worldview from embodying these principles. Values result from examining what works and what does not in the economic environment. This experience may have once been widely shared, but has now been forgotten (McCarthy, 1998).

Shared values serve as a type of unofficial control system that informs individuals of what is expected of them. In this way, values can be more or less prevalent in the sense of being shared by many or few, and more or less potent in the sense of being felt more or less intensely. Pervasive and robust values can have a favorable effect on performance by enhancing dedication and highlighting what need special attention. However, pervasive and powerful values can also have a negative impact: they can be inconsistent, become obsolete, and/or contribute to a large resistance to change, even when change is necessary. Values are essential to daily company operations. What brings principles to life, however, is the knowledge of their significance by every member of the organization. Values alone are insufficient; broad sharing is required.

Introduction

With the advent of globalization and the expansion of businesses across geographies, the competition between businesses has intensified. This has compelled businesses to implement best management practices across all functional areas. The most important component for the success of a business is not only the quality and price of its products, but also the work environment it provides to motivate its personnel. To comprehend the significance of the human aspects influencing the business functions, it is necessary to conduct an organizational study. The organization 'Starbucks Corporation' has been selected for the goal of analyzing the determinants of employee motivation and performance, as well as the collaboration utilised by the corporation.

Starbucks Corporation – a Summary

Starbucks Corporation, the world's most known coffee shop retail chain, has been one of the United States' fastest-growing public firms. The Seattle, Washington-based Starbucks Corporation was founded in 1985. In addition to providing brewed coffees, Italian-style espresso beverages, cold beverages, a variety of complementary food items, coffee-related accessories and equipment, and a selection of premium teas through its various retail stores, the company also purchases, roasts, and sells whole bean coffees through its global outlets. Tazo teas, Starbucks Hear Music compact discs, Seattle's Best Coffee, and Torrefazione Italia Coffee are among the company's brand portfolio (Yahoo Finance).

As of March 12, 2008, the corporation operated almost 16,000 retail locations in 44 countries with 170,000 employees. Customers are attracted not only by the quality of the coffee they offer, but also by the level of customer service and the inviting atmosphere of the business. It is ideal to evaluate the Starbucks instance because the company has a low staff turnover rate of 65 percent, compared to 150 to 400 percent for other industry competitors (Michelli, 2006) The corporation can be viewed as the optimal business model improving staff motivation and performance techniques, and teamwork interaction.

Employee Motivation and Productivity

It has been demonstrated that self-motivated workers tend to be self-satisfied, and that their actions go beyond the official obligations of their jobs. In contrast, employee unhappiness increases the likelihood of unproductive behaviors such as retreat, burnout, and workplace hostility (Spector 1997). Thus, employee motivation has a direct effect on job performance, which eventually has a beneficial effect on employee turnover decisions. When employees are properly motivated to perform better in their occupations, they get job satisfaction and like their work. Consequently, the employees would opt to remain in their current positions. Thus, employee motivation has a direct and beneficial effect on the decisions regarding employee turnover.

It has been demonstrated that knowledge, understanding, and increasing job satisfaction can significantly impact employee motivation and hence contribute to the achievement of corporate objectives. Therefore, any organization interested in accomplishing its objectives must do a thorough examination of the job satisfaction of its employees at all levels and implement programs to increase job satisfaction in order to retain the best personnel.

A higher degree of employee motivation is essential for any organization since it adds to the following distinct benefits for the firm.

Reduced Staff Turnover

Employee motivation is a factor that influences employee turnover. It is essential that employees remain highly motivated, as otherwise there is a risk of losing competent workers, which could have a negative impact on the company's success. As organizations invest enormous sums of money directly or indirectly on their employees, the loss of staff results in financial losses for the company (e.g. training cost).

Improving Work Performance

A high degree of employee job performance can be ensured by raising employee motivation. If staff remain motivated, they will be more productive. Recent study indicates a direct relationship between employee motivation and job performance. Therefore, increasing employee motivation will result in measurable gains in job performance.

Improved employee disposition

Motivation is one of the essential characteristics that has a strong correlation with employees' attitudes toward their organization. Highly motivated personnel generate a sense of belonging to their organizations, which results in increased organizational performance.

Active contribution

A greater level of employee motivation will enable workers to actively contribute more to their work by participating in their occupations. This provides an environment in which employees can achieve their maximum potential. Employees with low motivation tend to exhibit withdrawal behaviors such as absenteeism, tardiness, and passivity, which can contribute to significant employee turnover.

Helping attitude

Motivated individuals with a propensity for helping may contribute to a good organizational environment by assisting co-workers to complete their task on time, hence facilitating the achievement of organizational objectives.

Group Work

A team may be described as a group of two or more individuals engaging for the purpose of achieving a goal. The efficacy of a work team is contingent upon the output of any task accomplished and the personal satisfaction gained by the team members. In any organization, teamwork produces the following practical benefits for both the organization and the team members.

Level of Efforts – Teams typically have more energy and creativity than their individual members. Member Satisfaction – The best aspect of teamwork is that teams tend to eliminate boredom among the members, and the employees' sense of self-worth and dignity is frequently boosted. Expanded job knowledge and skills – by interaction with other team members, team members can acquire more intellectual skills and expertise through teamwork. Organizational responsiveness — By working in teams, employees are adjacent to one another, which increases the likelihood of employees trading positions (Understanding Management)

In order for the team's performance to yield the greatest possible results, it must possess some vital qualities (Robbins & Coulter, 2002). It is essential to develop clear team goals in order to motivate team members to match their own objectives with those of the team. In addition, the team must consist of people with abilities pertinent to the context of the defined team objectives. Mutual trust is also essential among team members, and an open, honest, and collaborative company culture can assist this. (VerenaVeneeva)

Employee Engagement and Productivity at Starbucks Corporation

Howard Schultz, the chief executive officer of Starbucks Corporation, has determined that his company's formula for success includes not only coffee but also the committed performance of highly motivated people. Constant efforts to capitalize on the working experience of employees and provide them with opportunities to advance in the organization are, in his opinion, essential to the success of the business. Starbucks recognizes its employees as "working partners" and provides them with comprehensive training prior to their employment to ensure optimal performance. Starbucks provides an engaging organizational structure that encourages employees to immerse themselves in their roles, thereby motivating them to achieve a new level of performance.

The managers of Starbucks treat their employees with respect and equality, and they refer to both full-time and part-time employees as "partners." The distance between managers and employees is decreased by continuous engagement between managers and employees at even the most fundamental level. According to the organization's mission statement, this enables the company to maintain a well-organized management structure and create a better work environment for its employees.

Starbucks has a well-organized communication system that allows employees to express their concerns on performance-related issues. There are weekly interviews undertaken to analyze the needs of the staff and any other obstacles to their performance. On the employee benefits side, in addition to compensation commensurate with industry standards, the employees are offered a variety of welfare measures, such as health insurance and discounts on goods.

Collaboration at Starbucks Corporation

Teamwork frequently creates a social framework within a business that enables employees to socialize with one another. According to Robbins (2001), the characteristics that influence teamwork are leadership relationship, roles, principles, status, size, composition, and agglomeration power. A well-established structure of amicable relationships between Starbucks' managers and employees facilitates teamwork. Starbucks employees who are identified as partners have the option to participate in policy-related decision-making. This enhances staff morale and teamwork participation within the organization. The organization keeps the number of employees in a retail location to a minimum, which enables employees to become acquainted with one another and recognize themselves as a team through frequent interaction, a key element for teamwork. The company also promotes teamwork by carefully considering and responding to employee comments and complaints. This motivates employees to get more involved in the achievement of company goals and to provide numerous suggestions for enhancing organizational performance.

Suggestions for Enhancement

The following are a few suggestions for increasing staff motivation at Starbucks Corporation:

The formation of employee committees to address welfare measures will assist management in determining the precise needs of the workforce in terms of welfare. The senior management's frequent interactions with the families of the employees will foster a sense of belonging in the workforce. Valuable cash or in-kind gifts commemorating longer service with the organization will motivate employees to remain with the company longer.

Exemplars of Exemplary Practices

The acknowledgement of employee services by the Michigan Department of Transportation (MDOT) is the best example of employee incentive in practice. MDOT is a government multimodal transportation agency. In addition to being responsible for the construction and maintenance of roads and bridges, MDOT is also in charge of public transportation, which includes planes, trains, and buses. (Jan Seegar, 2005) The firm has urged its personnel to provide the highest level of customer satisfaction despite being a government agency. The corporation has modified its overall business strategy to make employee excellence and recognition the most important success criteria, while aiming to promote and communicate employee appreciation on a global scale. (Jan Seegar, 2005) While empowering each person to perform job more efficiently, the firm considers them as successful team members. The firm has established a set of core values that all employees are encouraged to learn and live by. They adhere to the following aspects to make employee recognition effective:

"Adhere to and reinforce departmental principles and objectives. Feature effective teamwork. Recognize improvement and exceptional performance whenever they occur. Combine formal, informal, and everyday ways of acknowledgment. Deliver recognition in a sincere and individual manner. Be prompt. Be straightforward and easy to use. Be adaptable and innovative; be open to make adjustments. Request employee input" (Jan Seegar)

For employee engagement to be effective, the department has introduced a number of awards that will be presented to the best employees, who will be nominated by both customers and employees.

Conclusion

The organizational analysis of Starbucks Corporation, a successful business endeavor, demonstrates that motivation and teamwork are the most critical characteristics for any business organization to recognize in order to sustain the growth and profitability of the firm. This is supported by the best employee appreciation practices at the Michigan Department of Transportation. These examples demonstrate that, in contrast to the traditional principles of management, which emphasize the importance of top management and their leadership qualities for the success of an organization, the appropriate management technique for modern business management should include emotional and financial incentives for employees to achieve the desired outcomes. The rule of the day is that employee motivation and personal happiness take precedence in all management choices influencing the company's business practices.

References

About Starbucks Coffee Company Web.

Jan Seegar, "Communicating Employee Recognition at MDOT," in All Business.

J. Michelli (2006) published "The Starbucks' Experience." New York McGraw­Hill

Robbins, S. P. (2002). Organizational Behavior in the United States.

Robbins, S. P., and M. Coulter, "Management," Sixth Edition, New Jersey: Prentice-Hall, Inc., 2002.

Spector, Philip E. (1997). Satisfaction at work Thousand Oaks, California: SAGE Publications

Having an understanding of Management's 'Teamwork in Organizations' Web.

"Ensuring Effective Teamwork in Organization," by Verena Veneeva Ezine Articles. Web.

Starbucks Corp (SBUX) on Yahoo Finance's "Starbucks Corp" page. Web.

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Charles Schwab Company, Apple, Walt Disney Analysis Cheap Mba Definition Essay Help

Introduction

Charles Schwab Company is a San Francisco-based worldwide brokerage corporation. Due to its diverse operations and large number of clients seeking its services as a financial counselor and an investment advisor, the company has opened a significant number of offices in the United States and in other countries. This article will emphasize the significant economic contributions made by Charles Schwab Company as a brokerage firm. The paper will also conduct a comprehensive SWOT analysis of the company.

SWOT analysis

Strengths

The corporation is most proud of its nearly 7.8 million customers, which is its greatest asset. With such a large customer base, the company has fostered the expansion of individuals who seek its assistance anytime they confront an investing difficulty. Despite the fact that the company provides brokerage services comparable to those of its competitors, it is important to highlight that the fees and commissions charged to its customers are lower than those of other companies. However, this has no effect on the company's high level of profitability. Another factor that has contributed to the company's good success is the availability of a big number of advisors who can provide guidance on how to execute services effectively. Over 5,000 advisors offer the organization a solid foundation. This has significantly increased its competitive advantage over its rivals.

Weaknesses

One of the company's significant problems is its inability to create a solid plan with other brokerage firms, which has badly impacted its expansion tactics. In 2000, for instance, the company was incompatible with US trust due to inadequate rules for the formation of alliances. In response, both corporations witnessed a decline in client loyalty and a decline in the value of their financial sector assets on the US stock market.

Opportunities

Charles Schwab Company was the first brokerage to offer online trading. This was an excellent opportunity in comparison to its rivals. While some of its competitors have not imitated its use of e-marketing, others have not even acknowledged the significance of expanding internationally. In this sense, Schwab Company is in a stronger position to extend its services, especially in the current economic climate when every company is implementing e-marketing imitation systems. Increasing the company's customer base is an additional option available to it. This is due to the fact that the corporation has continued to employ advisers who offer their services to both individual investors and investment companies on its behalf.

Threats

Current cutthroat business competition poses a significant danger to the Schwab Corporation. The rising adoption of strategic marketing policies necessitates equally robust marketing strategies from the organization. Even though the organization has made a good use of current technology, there is a gap that, if not adequately bridged, could result in a loss of clients and revenue. In this regard, it is essential for the company to perform additional marketing research in order to gain a competitive advantage in the financial investment field and keep its rivals at bay.

The brokerage industry's competitive structure based on Porter's five forces model.

Threats posed by competing services and goods

The Charles Schwab Corporation has implemented Porter's five forces to its operations efficiently. First is the identification of replacement services and goods that pose a threat. In response to the increasing demand for the firm's shares, numerous companies have introduced services that provide intense competition for the firm's products. However, the corporation has employed product line diversity as a countermeasure against its competitors. Through its 300 locations in the United States, for instance, the corporation has introduced new services such as bond trading, mutual funds, annuities, investment research, and others. This not only caught the competitors off guard, but it also led to a decline in the competitors' market share.

Threat posed by new rivals

As stated previously, the financial market has attracted a great number of companies. This has led to intense competition in the industry. Charles Schwab Company employs market penetration strategies to prevent its services from losing ground on the market. This necessitates adopting low costs for its products, as well as minimal fees and commissions for clients who utilize its services. This has helped the business keep its competitive advantage over its rivals.

Competition's competitiveness

This is another part of porters that the business has considered in its operations. The corporation has implemented innovation in both its information technology and its products as one of its techniques. The company's internet offerings have allowed it to dissuade competitors who have not invested in online services. Secondly, the corporation has partnered with advertising agencies to strengthen its marketing strategies. In 2004, the company selected RSCG New York as its advertising agency. This has boosted its exposure on television programs, billboards, and in films.

Buyers power

To achieve a strong competitive position relative to its rivals, the company has begun to meet the needs of its customers. Similarly, the company has imitated diversification of its products, providing clients with access to a vast array of services and goods.

Suppliers' power

Since its inception, the business has developed its relationships with its suppliers, who range from legal consultants to financial investors. In this sense, the company has continued to utilize their superior services, resulting in the company's sustained success.

Analysis of Schwab Company's finances

As of January 29, 2010, the business had sold 10,5 million shares. This was a 0.7% increase from the end of December 2009. Similarly, the current earnings per share amount to $18.29 USD. This has tremendously attracted the bulk of investors to the company's shares. Therefore, it is the responsibility of management to guarantee that this level is maintained so that the company's profitability remains high. In recent years, the dividend yield has likewise climbed to 13.94%. Schwab Company's history of paying dividends to its stockholders has attracted a large number of investors to its shares (Lynch et al, p 9).

By the mid-1990s, Schwab's primary competitive advantages consisted of the following:

Midway through the 1990s, Schwab's primary competitive edge was the acquisition of the US-based retirement benefits provider Hampton Company. This significantly reinforced the financial and marketing practices of the organization. The excellent relationship between the CEO and the rest of the staff was an additional competitive advantage. This resulted in the company's overall performance being superior to other comparable organizations in the financial sector.

The profitability and goals of Charles Schwab

The decline in the company's overall profit during the second quarter of 2004 prompted Charles Schwab's return to the post of CEO. This occurred after the board of directors questioned the competence of the company's boss at the time, David Pottuck. After his return, Charles intended to enhance the company's financial guidance to its clients, in addition to pursuing routes that would increase the company's revenue.

Apple is a large company that designs and manufactures computer and electronic devices. The company's headquarters are in the United States, and it has over 280 retail outlets in several nations. It was incorporated in California, United States, in 1977. In addition to operating system software creation, the company also produces computer hardware and multimedia software. The company has recently expanded its product line to include consumer gadgets.

A SWOT analysis of Apples

Strengths

Apple's strong brand recognition in the electronics business is one of its greatest assets. Due to its efficient marketing and public relations initiatives, the corporation enjoys a favorable public image. This effective branding contributed to the company's 2009 sales of $43 billion US dollars. The company has invested in innovation and creativity, which has resulted in the manufacture of high-quality goods and increased consumer loyalty and happiness. Apple Corporation is one of the companies whose employees are committed and qualified. The management is highly effective, and the rest of the personnel is well trained and productive. Product diversification and market segmentation tactics have played a significant impact in the industry positioning of the organization.

Weaknesses

Despite massive investments in research and development, Apple has not been able to increase its market share and so consolidate its position on the market. The corporation has not placed sufficient emphasis on customer-focused problems such as product security and performance. This indicates that the corporation remains highly competitive within its industry. The company's financial foundation is eroding. Moreover, Apple has not distributed dividends to its stockholders in a very long period. Apple should devise policies that would attract investments because shareholders are a vital component of the corporation.

Opportunity

The advent and expansion of new markets for computer and electronic devices has offered Apple with a significant opportunity. The rise of new powerful economies and the expansion of the information and technology sectors in developing nations have created new customers for the company's products. Due to the introduction of these new markets, the organization has the technical and resource capacity to satisfy the increase in demand.

Threats

Competition within the industry is one of Apple's greatest obstacles. The business must contend with hardware competitors such as Dell Corporation, Microsoft, and Cisco systems. In addition, replacement products such as music players and hardware devices pose a danger.

High viability characterizes the Macintosh product range. Apple's original personal computer is the Macintosh. The Macintosh product line has undergone periodic enhancements to accommodate shifting industry trends and client demands. This ongoing enhancement of product features such as peripherals, storage, memory, and design will result in improved product performance.

Line of iPod Products

Apple's iPod product line is highly competitive. This new electronic device has received a great deal of press, and it is anticipated that it will perform exceptionally well on the market. There is a fast expanding global market for entertainment that requires the iPod. However, the iPod will face fierce competition from competitors such as Microsoft's Zune.

Apple's maintenance of its innovative and design leadership spirit

Apple Corporation may maintain its innovative spirit by raising its budget allocation and avoiding resource waste. This will allow the corporation to create original items that do not compete with those of its competitors, such as the Beatles or Creative technology. It is essential to emphasize that Apple's legal disputes with its rivals have resulted in a significant loss of revenue that should have been invested in innovation and employee engagement. Apple's leadership style must adopt an international system. This can be accomplished by the opening of additional branches led by seasoned managers. In this manner, the corporation's performance will be significantly increased.

Analyse financière de Apple Corporation

Apple, Inc. has a history of not distributing dividends. This has achieved parity with its competitors, such as Dell and Cisco. As of December 31, 2009, Apple Inc. reported a gross profit of $1,635,000,000 USD. With more than 900 million shares, the company's gross profit has increased dramatically from 1.23 million US dollars in 2008 to more than 900 million shares. During its operations from 2006 to 2009, the company exhibited a significant level of performance improvement. This has resulted in an average profit of $2.28 per share.

As a prospective and hopeful investor, I would purchase Apple stock. This is because the company's profitability has continued to increase considerably. Apple stock will have high returns as a result of the widespread adoption of strategic financial plans to combat the effects of the global recession, making it a very attractive investment opportunity for me.

Walt Disney

Walt Disney is one of the top media and entertainment organizations in the world. In 1924, two brothers established a corporation that dealt with animations, travel, television, and film production. The company has increased its operations throughout time. The company has four core divisions, including studio entertainment, parks and resorts, media networks, and Disney consumer products.

SWOT analysis of Walt Disney Strengths

Strong branding is one of Walt Disney's many strengths. Branding is the process of establishing a favorable reputation for a product on the market. The organization has invested in the provision of quality products and services to attract clients. Similarly, the company has effectively expanded its brand portfolio while preserving quality and client value. Innovation and adaptation have contributed significantly to the company's enhanced performance. The company's well-established divisions enable efforts to differentiate its products. The segmentation tactics have enabled the company to maintain its vast client base satisfied, hence increasing customer happiness and loyalty. The Walt Disney Company's financial situation is the second strength of the company. The company is enjoying rising overall revenue trends and a stability of earnings (Hill et al, p 34).

Weaknesses

About 80% of Walt Disney's revenue is generated in the United States. This excessive reliance on a single market is one of the company's shortcomings. Another vulnerability that has posed a threat to the corporation is its ineffective management. For example, the management should have directed the company to cross international borders, expand its activities, and engage in international trade. In addition, the company's primary clientele are children, limiting its business opportunities.

Opportunities

Walt Disney has the chance to expand into new market groups. There is an expanding chance to provide adult entertainment, hence increasing revenue. The expansion of markets, particularly in developing economies, gives additional possibility for the business. By diversifying its revenue base, a business can reduce business risks and grow its customer base. Malt Disney can leverage the Disney school of management and training to increase the performance of its employees in order to better its management processes. The company can also reduce its overall costs and boost its profit margins by reducing its operating expenses and implementing effective inventory control management.

Threats

The media and entertainment sector is extremely competitive. Walt Disney is perpetually threatened by this intense rivalry. Even more intense competition exists on the overseas marketplaces where the corporation intends to compete. Government policies represent the second challenge to the business. Outside of the United States, the corporation will comply with the regulations and laws of foreign nations. Walt Disney is threatened by declining staff retention rates. This indicates that the organization faces a more significant difficulty with human resource management. Retaining a low rate of personnel churn is a surefire method to increase organizational stability.

Until the time of its merger with Capital Cities/ABC, Disney was involved in animation technology, theater, and publishing in the 1990s. During this time, the Walt Disney motion Pictures Group played a larger role in the company's business. Disney extended its commercial operations by purchasing the ABC television network. This business venture encompassed the Disney cable television, ABC family, publishing, and theater divisions.

Michael Eisner's decision to acquire ABC was primarily motivated by his desire to broaden Disney's business operations using ABC's considerable brand recognition. In addition, Michael Eisner viewed the acquisition of ABC as a strategic move to increase Disney's competitive advantage. This acquisition meant that Disney had diversified its products and services, resulting in a larger market share and a consequent competitive advantage. After the acquisition, it was anticipated that Disney's revenues and earnings would surge.

However, the merger with ABC has some negative consequences. The organization lacked the managerial competence necessary to oversee the vast business portfolio. In reality, the management was overburdened with crucial responsibilities such as planning and coordination. Moreover, it is evident that this combination with ABC diminished the efficiency once associated with Disney. Diversification of economic interests made it harder for Walt Disney to concentrate on certain markets, which was a significant drawback.

According to a recent financial analysis of the corporation, Walt Disney's total income for 2009 was 36,000 million dollars, which is less than the 37,800 million dollars earned in 2008. The 2009 gross profit decreased to 5,700 million dollars from 7,400 million dollars in 2008. In 2009, the company's after-tax profits was 3,600 million dollars, which is less than the previous year's figure of 4,500 million dollars.

Disney is encountering managerial difficulties as a result of the merger of the two corporations. This is because Disney's expanding and diversified commercial activities necessitate an effective organizational structure. Product differentiation and branding are among the challenges posed by the two companies' merger. Implementing efficient marketing and promotional techniques presents a challenge for the business. To increase the company's competitiveness, it is also evident that segmentation and targeting strategies will require revision.

References

Charles Hill and Jones

Strategic management by Gareth Hoighter Mittin. Pages 33-39, Boston: Macmillan Publishers, 2010

Smith, Lynch, Pierce, Fenner, and M. Lynch Revising a Sonorous Piece of Americana. 1957 The New York Times

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The Theory Of Business Strategy In Use Cheap Mba Definition Essay Help

The more successful we desire our business to be, the more planning will be required. Numerous economists and intellectuals acknowledge the importance of strategy to the success of any enterprise. Currently, all stages of a typical entity's existence are planned, reviewed, and described beforehand. Due to the existing theories of strategy, which industrial leaders use to organize their actions, it is essential to select the one that fills all the holes in the given conditions; otherwise, even a single omission might be the cause of failure.

In his works, Donald Hambrick defies the whole concept of strategy. He asserts that decisions about R&D funding, capacity, and pricing should not be made in isolation from one another. I believe that Hambrick had a somewhat critical outlook on the sound decision-making procedures of the period. He also mentions Porter's design, describing it as "narrow" and stating that such an approach to strategic planning is considerably less complex than it should be. According to him, strategy derives its meaning not from an objective theory, but from the expectations and ambitions of each "strategist" (Hambrick and Fredrickson 52). I can see that he considers implementing a strategy to be of the utmost importance. After identifying the business's objectives, the thinker formulates a strategy. The fundamental components of his method are economic logic, regions, vehicles, differentiations, and staged implementation. Together, the pieces form a diamond that Hambrick, as I believe, designed to clarify the theory (Carpenter, Bauer and Erdogan par. 3). Due to strategic thinking, he connects a question to each piece that must be answered. Additionally, he outlines organizational actions that support strategy. Included are interactions with people, symbols, rewards, and operational norms and procedures. The presented hypothesis appears to be well-considered, somewhat optional, and applicable. It is distinct from the other two in its direct approach and equal emphasis on all elements.

In his opinions, Michael Porter emphasizes the importance of a competitive market. He counts rivals among the fundamental forces upon which a strategy must rely (Porter 79). As previously stated, these forces include substitute products, suppliers, potential new entrants, customers, and competitors. In my perspective, Porter considers competition to be the most influential factor because he emphasizes it most in his books. Portes, like Hambrick, speculates on the nature of "strategy" ("Michael Porter Asks, and Answers: Why Do Good Managers Set Bad Strategies?," par. 6) But if Hambrick places economic logic at the center of his diamond, Porter places competitor relations at the center of his study. Such an approach is sound in contemporary economics, albeit it tends to leave certain old ideas in the dust, as was the case previously (Warsh par. 6). Porter notes that providers have the option of joining the market on a huge scale in order to be a significant competitor, or of accepting a cost disadvantage. He also considers incumbents, noting that a company may have advantages while being smaller than its rivals. As examples, the economist cites technology, access to better raw resources, and geographic location, each of which offers distinct advantages (Ingram par. 8). Additionally, Porter attempts to distinguish between forces and factors. It appears he wishes to emphasize what is fundamental and what is secondary. As factors, he discusses the government, innovations, and the growth rate of industries. Porter's theory appears somewhat "aggressive" because it is continually focused on competitors, yet it gives an effective strategic strategy that teaches entrepreneurs how to stay ahead.

Frederic Frery gave an alternative perspective regarding the meaning of strategy. He splits it into dimensions as opposed to determining elements, like Porter did (Gonzalez par. 1). Frery identifies value creation as the primary objective of every strategy. He asserts that the production of value might be focused primarily toward shareholders or customers, but the ultimate goal is to satisfy both. Moreover, he contends that focusing on one while ignoring another may result in corporate failure. If both shareholders and customers are satisfied, there is a balance between revenues and customer satisfaction. The second characteristic is mimic handling. The author discusses the originality of a business, citing the prevention of copying as a decisive factor in strategy formulation. He adds that a firm must appear as implausible as possible to others. I believe that the significance of a given dimension is slightly overdone, and in comparison to Porter's perspective on rivalry, Frery is emphasizing the wrong component of rivalry. In addition, he omits strategy optimization, cost reduction, and similar considerations, emphasizing that competitors can make the same choices. The perimeter defines the final dimension. According to Frery, two questions must be answered: what is the business and where does it stand in the value network? After identifying it, a series of strategic decisions can be made. Among them are refocusing, outsourcing, diversification, and integration. Frery's theory appears to be considerably weaker than that of earlier economists. It does not provide guidance for all significant business decisions and elements.

"Mary Key" was chosen as an example of successful market strategy execution. The specified company is in the industry of marketing beauty and body care items ("The Marketing Strategies of Mary Key Products," par. A feature of the company's marketing is presenting the goods in a way that generates a desire to give it as a gift to loved ones, friends, and family. This strategy is very new to global markets, therefore we can link it to the Frery dimension of uniqueness. I consider it one of the most important decisions affecting the company's performance. A second characteristic of a specific organization is its trade centers' meticulous client service. This makes every consumer feel special, which increases their devotion to "Mary Key." Regarding client benefits is a crucial concern (Berry par. 2). This is exactly what Porter referred to when describing demand-side scale benefits. A set of distribution channels represented an additional method of value creation. Direct selling with the option to purchase products via one-on-one or group consultations and phone calls provides the business with a competitive advantage over its rivals. As benefits of this technique, we can list convenience, speed, and access to comparable pricing information, which is another aspect of Porter's thesis that he unearthed in his perspective of distribution channels.

Overall, "Mary Key" is today a world-famous institution not in the least due to its strategic planning, which creates value for customers by demonstrating care for them. The company's marketing plan seemed to be more in line with Porter's philosophy, and it produced the expected results. As for Porter himself, I think his perspectives and approaches to be the most persuasive and effective.

Sources Cited

2015 Web. Berry, Tim. Focus on Customers' Benefits.

Carpenter, Bauer, and Berrin Erdogan. 2015. Web.

Gonzalez, Victor, and Frederic Frery's The Fundamental Dimensions of Strategy. 2011. Web.

Donald C. Hambrick and James W. Fredrickson. Are You Certain You Have a Strategy? Academy of Management Executive Quarterly 19.4 (2005): 51-62. Print.

The Internet 2015. Ingram, David. The Benefits of Geographical Organizational Structure.

Michael Porter asks and answers the question, "Why Do Good Managers Choose Poor Strategies?" 2006. Web.

Porter, Michael. Five Competitive Forces That Influence Strategy, Harvard Business Review 86.1 (2008): 78-93. Print.

2015.Web.The Marketing Strategies of Mary Key Products.

Warsh, David, The Rivals. 2015. Web.

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Business Plan, Stages And Market Analysis Of Entrepreneurs Cheap Mba Definition Essay Help

Table of Contents
Strategic Goals for Idea Generation Market Research and Analysis Competitor Knowledge Cash Flow and Profit and Loss Projection Balance Sheet Project Scenario Analysis The Essence of Entrepreneurship Bibliography

Business Plan is an important document for entrepreneurs. Essentially, this is an examination of their business plan. In this paper, entrepreneurs evaluate the likelihood of failure and failure of their business ideas and business models, since it analyzes extensively all the essential parts of a business. The process of writing a business plan begins with the invention of a concept and includes discussions of other crucial components, such as financial statistics, cash flow, and industry analysis. A new business model is evaluated using both empirical data and forecasts.

Idea Production

Ideation is another name for Idea Generation. It is the process of creating and communicating market-unique, original concepts. It is the foundation of any business strategy, around which the rest of the company plan revolves. In this section, new ideas are recorded and analyzed to ensure that they are practical and can be implemented in real-world business scenarios. Since it is the most crucial step in business planning, it needs the greatest time and work. Many entrepreneurs try to commit as much time as possible to idea generation because they know that if their ideas are good, their business will be successful and they will have a greater chance of achieving success if they produce strong ideas. Nonetheless, at this point, business blueprints are established and written down on paper or a white board. Before determining which ideas to adopt and which to reject, considerable critical thought and cross-checking are required. (Harford 2006)

Regarding the function of idea generation in the entire entrepreneurial ecosystem, there have been numerous discussions. Many individuals equate innovative ideas with corporate success. Nonetheless, if we examine this element objectively, we will notice that there may or may not be a correlation between corporate performance and the production of new ideas. Due to the fact that this procedure is a blueprint for a company plan, we cannot say with absolute certainty that a good idea will be successful in the actual world. When things become practical, the majority of the theory becomes irrelevant. Since concept generation is based on theories and past experiences, things may turn out very differently once the entrepreneur enters the real practical environments; therefore, the function of idea generation has been overemphasized, and there is far less to it than entrepreneurs believe.

Strategic Purposes

When a firm is founded, its manifesto includes particular financial and strategic objectives. If a company lacks a manifesto or has no stated aims, it lacks a sense of direction. It can err and fail without affecting the market it operates in significantly. Many business owners equate a company without objectives to a "rat in a maze." Without well defined and documented objectives, the organization cannot function properly. As a result, numerous business owners articulate their strategic objectives openly in their vision or mission statements.

Strategic Objectives do provide the business with a feeling of direction, but they limit the business's capacity for growth or other accomplishments. It is essentially a limit on the business's productive capacity or growth. This is because stating that a business wants to develop by a given percentage implies that entrepreneurs are not considering expansion beyond that proportion. They are impeding the expansion of the business. In other words, it restricts the expansion of business and diminishes its potential by capping its competencies. (Ashton 2007)

Market Research and Analysis

In the past, numerous study techniques were utilized. However, there was a large question mark over the validity of these studies, as the methodologies employed were rarely correct and the entire research was defective due to the researcher's or respondent's prejudices. Many strategies have been developed in recent years to avoid these biases and ensure the quality of research. But first, let's define the term validity in the context of scientific inquiry. Valid research procedures are those that allow the researcher to make accurate inferences from the data collected, or those that supply the correct data to enable the researcher to make accurate inferences.

There are two fundamental research methods: observational and experimental. In observational research, no planning is done in advance; rather, the question is asked spontaneously, and the respondent's response is observed. In this form of research, not only his spoken or written words are observed, but also his body language and gestures. This enables the researcher to determine whether the respondent is avoiding offending the researcher by phrasing his in a certain way, or whether he is answering truthfully. Consequently, observational research decreases responder bias in the research. This type of research technique demands excellent observational and analytical skills, and can only be successful if the researcher possesses them. (Branson 2010)

One-time project research is the second form of research. This form of research takes into account both observational and experimental research. It encourages the researcher to carefully arrange his investigation. It also necessitates a great deal of fieldwork and other research-related abilities, such as data collecting and collation. In this form of investigation, multiple questions are posed and must be answered over time. For the research, a specific hypothesis is formulated and then tested over a period of time. This form of research is very helpful for establishing a point, but its scope is insufficient to assure its concreteness. It also disregards the fact that changes in fashion will render their research obsolete, necessitating new investigation. Although it is superior to solitary observational research since it incorporates previously acquired literature, it is not as substantial as extended research.

Again, the significance of research is overemphasized. The product or service quality and Customer relationship management have the greatest impact on the success or failure of a firm. Many firms fail to meet expectations not due to a lack of research, but due to their inability to provide clients with enough quality and service. (Deakins 2005)

Recognizing the competition

It is of highest importance to comprehend your competitors. Numerous firms fail because they operate without considering the behaviors of their competitors and attempt to function independently of their market competition. Therefore, a successful entrepreneur is one who considers the behaviors of their competitors prior to deciding on their own policies.

In recent years, however, we have witnessed the rise of numerous organizations that have survived and thrived despite having different policies than their competitors. The emphasis has switched from competitor understanding to the emergence of differentiation. Customers in virtually every market value product differentiation, and hence, competition is diminishing.

Forecasts of Cash Flow and Profit and Loss

It is a well-established reality that many firms fail due to inadequate cash flow management, despite their published financial statements showing a profit from their commercial activity. This is mostly because they do not closely monitor their cash flow and because the cash outflow from the business exceeds the cash influx into the business.

Cash outflows exceed cash inflows for a variety of reasons that demand a detailed examination of the business's operations. Most firms only discover they have a cash flow problem when the situation has deteriorated to the point where they cannot pay their bills and credits. However, many firms can survive with the same sales and profit if they are managed appropriately. (1988)

Balance Sheet Task

As the term implies, these are projections or forecasts. These are forecasts on a company's future financial health. It discusses the changes that a firm can anticipate throughout time. This document is required for all financial analyses of a firm because all businesses seek to generate profits.

However, this paper cannot be relied upon solely when making financial decisions. Due to the fact that this material is predicated on speculation, it may possibly out to be incorrect. In order to make a well-rounded decision regarding their future investments, entrepreneurs must take into account additional factors such as industry evaluations and SWOT analyses.

However, this is merely an estimate, and the actual outcome could be very different. Consequently, a firm cannot rely solely on these estimated figures; rather, it should attempt to cope with reality by dealing with events as they occur, rather than attempting to foresee them and then suffering a setback if they do not go its way. (Handy 1995)

Strategic Planning

Scenario planning is a method of anticipating or evaluating future issues or problems in order to solve them in advance. Managers utilize scenario planning as a component of contingency planning or to develop backup plans if the business plan or action plan deviates from preset plans. For instance, suppose a company doubles its production in response to a surge in demand, only to discover that the emergence of new competitors will force the majority of the additional output to be warehoused while the company's market share declines. In this situation, strategic managers must plan ahead, anticipate future issues, and devise solutions. To ensure that its market share remains high, a business could, for instance, implement a variety of marketing and selling activities. (Kevinlane Keller and Kotler, 2000)

However, scenario planning is a difficult discipline. Again, it is based on projection, so things could turn out to be vastly different than predicted. As a result, excellent entrepreneurs cannot rely on it totally, lest they fall behind entrepreneurs and businesses that are more grounded in reality. (Jones-Evans & Carter 2006)

The Fundamentals of Entrepreneurship

An entrepreneur is someone who is willing and able to coordinate resources into a single location, as well as someone who is willing to take chances and bear responsibility for their failure. There are numerous abilities and characteristics that make an entrepreneur's job simpler. Some of these skills and characteristics are innate, while others are acquired over time. Several personality categories were discussed in the literature. We explored extraversion, receptivity to experience, self-efficacy, and conscientiousness, among others. All of these characteristics make for a successful entrepreneur, but it is quite uncommon to discover them all in one individual. It is quite difficult for a person to possess all of these abilities or characteristics because they often compete with one another. We encounter tens of thousands of distinct personalities on a daily basis. We admire certain individuals and detest others. However, little consideration is given to the origins of these personalities or the reasons why people have excellent or terrible personalities. If humans had the ability to choose and control their personalities, we would all have chosen the most desirable ones. This is impossible since multiple factors influence the formation of an individual's personality.

As an entrepreneur, you must have a comprehensive understanding of your consumers and staff. You must successfully manage them if you wish to attain success. Failure to effectively manage them might result in the loss of consumers and valued staff. As an entrepreneur, there are numerous activities and skills that must be proven in order to earn the trust of team members. By demonstrating your competence on the job, you can gain the trust of your customers and coworkers. This will ensure that others recognize your expertise and that your teammates know they can rely on you and that you are not a freeloader. Likewise, if your clients are aware that you are an expert in your field, they will seek your guidance and be certain that they are purchasing from someone who will give them an honest view.

Likewise, establishing boundaries between yourself and others is another effective method. This does not mean that you should become a complete introvert, but you should not break some boundaries, especially where you are unfamiliar with the emotions and culture of others. This will improve your standing inside the group, and others will begin to trust you. Similarly, it is highly beneficial to practice harsh love and accept people as they are. This will develop a mutually trusting relationship between you and others. Giving and valuing one's viewpoint is a further method for establishing trust. You should avoid being a person with a closed mind; instead, you should not only share your ideas on various topics, but also respect the opinions of others. This will help develop your reputation, and others will seek your assistance more frequently if they know you are eager to assist them, give them honest ideas, and are really willing to listen to and comprehend them. (Kotler & Kotler 2006)

He emphasized two major disciplines: the judging function and the perspective function. He believed that thinking and feeling are judging activities, whereas sensing and feeling are perceptual functions. This is how Carl Jung described the psychological method to determining the personalities of various individuals.

Jung identified eight distinct personality types into which an individual can fall. He felt that a person falls into each of these categories based on how he processes and makes judgments with information. These judgments are made and supported by a dominant function, which receives additional assistance from an auxiliary function. He added that even secondary or subordinate duties must be supported by tertiary functions. He felt that every human has either an introverted or an extroverted dominant function. (2009) According to (Southon)

I would characterize my personality as sociable and agreeable. I believe this personality type is advantageous for entrepreneurs. As an entrepreneur, you must meet numerous individuals. The list of individuals that an entrepreneur must meet is lengthy. An entrepreneur must interact with clients, employees, government authorities, tax officers, potential customers, potential employees, suppliers, debtors, and creditors. Therefore, I believe that an extroverted personality is essential for an entrepreneur. I, too, am an extrovert. This will assist me in maintaining cordial ties, which are extremely advantageous for a business. I am able to interact warmly with consumers and clients in order to generate a favorable impression and establish long-lasting, mutually beneficial business partnerships.

Likewise, I also possess a pleasant and diligent disposition. I am agreeable and receptive to the opinions of others. If I find the other person's idea to be a good one, I tend to follow it. This is an excellent attribute for an entrepreneur to possess. People not only enjoy democratic leadership, but it can also drive a firm to success by generating numerous ideas from which the finest can be selected. However, if an entrepreneur is very amiable, I believe there are disadvantages to possessing this personality type. If an entrepreneur is overly accommodating, he severely damages his credibility as a leader. Numerous individuals could mistake me for a person who cannot make sound decisions or who is indecisive. In this manner, I may lose people's trust, and they will not rely on me to make decisions in the event of a dilemma. This conversation demonstrates that an individual must strike a balance between being polite and slightly authoritarian. The optimal combination involves intermittent personality transitions from autocratic to agreeable. This will not hinder an entrepreneur's rapport, and people will perceive him as understanding, someone who listens to them and assists them in commercial and interpersonal circumstances. I recognize that I must shape my personality and strike a balance between being nice and authoritative. (Wickham 2006)

People who meet me believe that I am likewise a conscientious individual. I strive to achieve goals by working diligently. Even if they are impossible or require double the effort, I make every effort to attain them. There are several benefits for an entrepreneur who possesses such a personality. This instills a sense of hard work in others, and when they witness their leader giving his all, they also strive to do their best and achieve their goals. This phenomenon is known as leading by example, and all effective leaders and business owners use it to instill diligence in their personnel. It is also advantageous for consumers and prospective clients to observe that a person in a position of responsibility works diligently for the firm's clients. This instills confidence and attracts a large number of potential customers. Having a conscientious disposition has disadvantages, however. It frequently causes stress. Stress arises when a person attempts to work too hard or exceeds his mental and physical limits. Long-term stress might result in diminished overall performance. Short-term aims can be accomplished, but long-term effects may be more detrimental than beneficial. (Jones-Evans & Carter 2006)

In light of the preceding debate, it is acceptable to say that an entrepreneur is a leader. If someone wants to be a successful entrepreneur and lead his business to success, he must have good leadership abilities. An entrepreneur's personality must be well-balanced in order for him to attain success. He should have a personality that falls somewhere in the middle of the two extremes. A good entrepreneur, for instance, is neither overly agreeable nor too domineering. He falls somewhere in the middle of these two extremes. On occasion, he becomes autocratic, yet on other occasions, he is democratic and amicable. Similarly, a successful entrepreneur alters his demeanor periodically to prevent his employees or subordinates from becoming too complacent. He also ensures that his subordinates are under excessive stress. By changing his personality sporadically, a successful entrepreneur seeks to strike the proper balance and ensure that he leads his business to success and enjoys market leadership. Likewise, a good leader or entrepreneur strives to be polite and approachable. He is forthright and outspoken, with a warm and exuberant demeanor. (Timmons & Spinelli 2008)

Reference List

The Entrepreneur's Book of Checklists was published by Ashton, R. in 2007 by New York:Prentice Hall.

R. Branson. 2010. Screw it, Let's do it. Virgin Books, New York.

2005. Entrepreneurship and Small Businesses. New York: McGraw-Hills.

The Streetwise Guide to Being an Entrepreneur. New York: Oak Tree Press, 2008.

Handy, C., The Empty Raincoat, Random House, London, 1995.

The Undercover Economist by T. Harford. New York:Abascus, 2006.

Jones-Evans, D., and S. Carter. 2006. Enterprise and Small Business: Principles, Policy, and Practice.

Kay, J. (2010). Obliquity. Profile Books, New York.

Kotler, K., and P. Kotler, Marketing Management, New York:Prentice Hall, 2006.

Southon, M. (2009). The Beermat Entrepreneur. New York: Pearson.

Timmons, J., and Spinelli, S. (2008). New Venture Creation: Entrepreneurship for the Twenty-First Century.

A. Wickham, Strategic Entrepreneurship, New York: Pearson, 2006.

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Chinese Multinationals: Generational Differences And Perceived Subjective Well-Being Cheap Mba Definition Essay Help

Abstract

This dissertation seeks to investigate the factors that influence the subjective well-being (SWB) and generational differences of individuals working for multinational corporations (MNC) in China, with a particular focus on those born in the 1970s, 1980s, and 1990s. Considering that the bulk of MNCs employ an individualist Western-style strategy, its applicability to the Chinese collectivist society must be reviewed. On the basis of a comprehensive literature analysis and interviews with representatives of all three generations, assumptions are formed about each cohort.

The Cultural Revolution generation, the Social Reform generation, and the Millennial generation have different self-perceptions, which are discussed in terms of six dimensions, including career choice satisfaction, priorities between work and family, gender-related differences, perceived skills and self-impression, perceived traits of a good manager, and readiness for potential changes / technology implementation. For China-based MNCs, additional research directions and related suggestions are established.

Introduction

The introduction of the Open Door Policy in 1978 marked the beginning of a new era in China's economic development. Currently, the country's gross domestic product (GDP) averages roughly 10 percent, indicating that it is a developing state (Knight 2014). Consequently, numerous multinational corporations (MNCs) view China as a viable partner and investment opportunity. The attitudes of local employees towards their workplaces and careers are one of the greatest obstacles associated with conducting business in the Chinese market. Most importantly, historical events, societal developments, and other local elements that have caused generational disparities must be taken into account (Clark 2017; Jia et al. 2016; Harmel & Yeh 2015).

There are several studies focusing on Western countries and their employees' perspectives, but few authors have examined the Chinese context of the topic at hand (Yi, Ribbens & Morgan 2010). Those who were born in the 1970s, 1980s, and 1990s exhibit the most striking disparities.

In light of this, it is obvious that additional study on the generational attitudes of employees in China who work for MNCs is necessary in order to provide actionable recommendations and boost the effectiveness of organizations.

What factors have the greatest impact on the workplace attitudes of employees in China's multinational corporations due to age differences?

This dissertation seeks to investigate the present literature and the responses of the Chinese respondents who will be questioned for the research. The following study objectives are created to address the aforementioned research issue in detail:

To examine the contemporary academic literature that examines the work ideals of Chinese employees; To specify the factors that distinguish the work attitudes of each of the post-1970s, 1980s, and 1990s generations; To analyze the data received from the participants and compare it to the existing literature based on variables such as gender, work-family balance, job choice satisfaction, etc. Under consideration of the local environment, draw applicable findings and make recommendations to MNCs operating in China.

In China, it is postulated that gender-related attitudes, collectivism, social reforms, cultural identity, and technological progress distinguish SWB across generations in the workplace.

This dissertation follows a conventional format, including an introduction, literature review, methods, analysis and discussion, conclusions, and suggestions for future research. The purpose of the critical literature review is to gather knowledge regarding the most important theories, concepts, and events of the 1970s, 1980s, and 1990s. On the basis of data obtained from recent evidence and the responses of study participants during interviews, conclusions are offered. To illustrate the findings, extracts from the interviews are shown.

The qualitative method is utilized to evaluate the data and provide pertinent recommendations to China-based MNCs. In addition, the study analyzes the gaps between research and practice on a generational approach to employee management in the workplace.

Literature Review

Identifying Key Concepts and Assessing the Need for Change: MNCs and China

A multinational corporation is an organization that operates in at least one additional countries besides its native country. The two defining characteristics of multinational corporations are their size and global presence, which is manifested in the export and import of manufactured goods and services. These firms make substantial investments in other markets and establish factories to relocate operations to those nations. In China, MNCs contributed significantly to the growth of the local market: "in 2004, MNCs accounted for 28% of China's industrial output and 19% of its tax revenue" (Park & Vanhonacker 2007, p. 8).

Today, about 85 percent of intellectual property is owned by multinational corporations, which also brought a substantial amount of monetary transfers and management expertise. According to Park and Vanhonacker (2007), the issues over the employee-relations practices of global corporations are foremost and underdeveloped (Akhtar & Renyong 2014; Cooke 2009; Foley & Lu 2007). Conflicts arise in Chinese workplaces due to a lack of awareness of the local culture and, most significantly, generational disparities.

One of the fundamental themes in China's economic development is the fact that both domestic and multinational corporations are considering the formation of new joint ventures and the expansion of existing ones (Yin & Jamali 2016; Zhang 2009). This collaboration is mutually beneficial: on the one hand, Chinese enterprises are searching for ways to join foreign markets, and on the other hand, multinational corporations require support to flourish on domestic markets (Tian & Slocum 2014; Sardana & Zhu 2017; Schmitz, Froese & Bader 2018).

According to a study by KPMG, one of the Big Four accounting firms, all stakeholders must support this development because it is a means of overcoming the economic crisis (Future for MNCs in China: a KPMG study 2012). Specifically, many Chinese organizations intend to quadruple their staff in order to fulfill the expanding demands of foreign corporations.

Subjective Well-Being as an Indicator of Attitudes in the Workplace

It is vital to apply the notion of subjective well-being in order to better comprehend the attitudes of Chinese employees regarding their profession and workplace (SWB). It is a multifactoral construct that reflects an individual's concept of himself or herself, his or her life, and social standing. According to Diener, Lucas, and Oishi (2018), the majority of studies on SWB are generalized since the notion of SWB is formed at the confluence of economics and psychology, utilizing quantitative and qualitative methodologies that show a person's socioeconomic situation and emotional responses.

The socio-economic approach to studying people's perspectives calculates the level of subjective well-being based on the national income per capita and the gross domestic product. The majority of recent studies cast doubt on the extent to which subjective well-being increases alongside the expansion of social welfare (Diener, Lucas & Oishi 2018).

One of the most important SWB complexes is responsible for professional relationships: occupation, professional identity, money, partnerships, etc. Subjective well-being is significantly influenced by the laborer's state of well-being (Rozkwitalska 2017). An employee's work-related values reflect his or her perspectives of professional activity, including internal values connected with self-actualization, motivation, burnout, and labor outcomes. In the context of a career, SWB is a criterion of professional identity and a reflection of a subject's attitude toward the process and outcomes of work.

The primary determinants of SWB in the professional realm include job satisfaction, professional health, quality of working processes, financial condition and satisfaction, subjective economic position, and adequate income in relation to individual demands (Rozkwitalska 2017). The components of the well-being of various professions' representatives are investigated, and efforts are made to discover characteristics of the professional environment that contribute to an increase in SWB.

Generation as a Social Group Concept

Karl Mannheim launched the first significant attempt to depict the concept of a generation as a social group by formulating the problem of comprehending the connections between members of the same generation. The author stated that the generation is not a social group because the latter is a collection of persons engaging based on preexisting or naturally occurring relationships (Cassell 2017; Burnett 2016). According to Mannheim, generations do not correspond to these two qualities and, as a result, cannot be regarded a group, but rather a unique social event.

Nevertheless, Kim et al. (2018) assert that Mannheim defined the criterion of belonging to a generation as a class fitting, such as a person's location or social status. Class affiliation is an objective reality, irrespective of whether an individual is aware of it or acknowledges it (Teclaw et al. 2014; Srinivasan, John & Christine 2014). Thus, Mannheim defined generational membership as a social position. However, the author did not rule out the emergence of subgroups within the same generation as a result of personal interactions between members of the same group.

Examining the Key Characteristics of the Decades Following the 1970s, 1980s, and 1990s in China

Companies have never before faced such a synthesis of acquired knowledge, professional experience, and youthful exuberance. Diverse perspectives, misunderstandings, disagreements, paradoxes, intrigues, and other issues can be viewed as characteristics of the modern workplace in China's multinational corporations (MNCs) (Lyons & Kuron 2014; Lyons et al. 2015; Lee 2016; Lee, Brown & Wen 2016). The different generations of employees are likely to alter their opinions of the workplace and the future of the work process. Digital revolution expands the generational gap and drastically escalates the issue of adjusting to new contexts (Dueck & Han 2014; Hollinshead 2017; Cheng 2014).

Representatives of the late Millennials generation are the most adept at adapting to conditions of rapid change, while smartphones, laptops, and headphones are a vital part of their daily lives.

In contrast, older generations, despite their professional expertise and high levels of competence, may not always know how to approach a laptop. Wen, Muthuveloo, and Ping (2018) and Bruche (2009) think that such a disparity in worldviews is inevitable, and that it is impractical to assemble all the unskilled enthusiasts or barely competent workers in one company: doing so will harm the microclimate in the team and the entire work process. Costanza and Finkelstein (2015, p. 320) assert that "scanning the environment, identifying workforce trends, developing appropriate HR policies and practices, and evaluating those policies and practices are time-tested organizational best practices." In an era of digitisation, multinational corporations are expected to adapt their workspace, employment structures, and work culture in order to face the future with confidence.

After 1970 and the Cultural Revolution

Prior to 1949, the People's Republic of China (PRC) was known as the dynasty empire. Since the proclamation of the People's Republic of China, the nation has experienced numerous momentous and dramatic events that have dramatically altered the values of its people. Yi, Ribbens, and Morgan (2010) classify the three major eras as "Republican (born 1930-1950), Consolidation (born 1951-1960), Cultural Revolution (born 1961-1970), and Social Reform (born 1971-1976)." (p. 603).

The authors' assumptions are based on the concept of perceptional differences elucidated by Egri and Ralston (2004), who investigate cross-cultural shifts and generational differences among individuals in the United States (US) and China. It is asserted that knowledge of how employees view their work assists in anticipating their resistance or receptivity to new treatments (Egri & Ralston 2004). In many ways, the social and political developments altered the perspectives of many people, whose impressions vary based on gender, contentment with profession choice, work-family balance, etc. It should be noted that people born at the junctures of decades tend to adopt the traits of both, making it considerably more difficult to anticipate their future choices.

In the peak of the Cultural Revolution during the 1970s, traditional Buddhist precepts were heavily criticized. The official task of implementing the Cultural Revolution failed to adhere to the Marxist-Leninist method for constructing socialism, according to Yang (2016). (CCP). However, Mao Zedong, fearing that officials' discontent with his policies would increase, gave this notion a different interpretation. The Confucian legacy was destroyed and deemed outmoded, while the power of a single political leader was advocated as the path to the country's future development (Yang 2016).

The general trend toward communism compelled parents to instruct their children in the importance of contributing to the common good and acting like Little Red Guards. According to Perry (2018), children and adolescents who lived in the 1970s were witnesses to this tremendous occurrence, which indelibly impacted their entire lives. Yi, Ribbens, and Morgan (2010) concur with the cited scholar and add that this generation has also experienced natural disasters and poverty, which compels them to view any changes with extreme caution.

Beginning in the 1960s, the self-sacrifice of the Chinese as a national trait was discouraged due to a trend towards individualistic concerns. Despite the fact that the Cultural Revolution lasted until Mao Zedong's death in 1976, the 1970s are considered the most important. To better comprehend the modernization of China, one must view it as a process of transformation, a protracted shift from one social condition to another.

Regarding China's modernization, this is a transition from a traditional agricultural society to a contemporary industrial one. It is considered that the 1970s generation endured more catastrophic occurrences than any subsequent age (Edge 2014). Due to their precarious circumstances, they tended to pursue higher education and rely solely on their own efforts in life and work. High intelligence and college education also enabled individuals to enhance their abilities and knowledge so that they could apply them in the workplace and become successful professionals.

The Eighties and Social Policy

In many ways, the Marxist conception of social development dominated in the PRC until the 1980s. According to Wang (2014), even the processes of pre-revolutionary China were widely regarded as conforming to the formation theory, which reduced the struggle of workers and peasants against Chinese landlords, foreign capital, and Manchu dominance to an explanation of the causes and nature of its socio-historical dynamics.

Lian (2014) and Cherrington (1997) indicate that the notion of constructing socialism with Chinese features, which was proposed by the Chinese leadership in the early 1980s, widened the field of study by emphasizing the exploration of novel approaches. It became vital to acknowledge the distinctiveness of ancient Chinese culture and social ideas, as well as their influence on current development (Wang 2016). Midway through the 1970s, it became evident that successful modernization was not possible while preserving tradition.

Chinese Multinationals: Generational Differences And Perceived Subjective Well-Being Cheap Mba Definition Essay Help

Abstract

This dissertation seeks to investigate the factors that influence the subjective well-being (SWB) and generational differences of individuals working for multinational corporations (MNC) in China, with a particular focus on those born in the 1970s, 1980s, and 1990s. Considering that the bulk of MNCs employ an individualist Western-style strategy, its applicability to the Chinese collectivist society must be reviewed. On the basis of a comprehensive literature analysis and interviews with representatives of all three generations, assumptions are formed about each cohort.

The Cultural Revolution generation, the Social Reform generation, and the Millennial generation have different self-perceptions, which are discussed in terms of six dimensions, including career choice satisfaction, priorities between work and family, gender-related differences, perceived skills and self-impression, perceived traits of a good manager, and readiness for potential changes / technology implementation. For China-based MNCs, additional research directions and related suggestions are established.

Introduction

The introduction of the Open Door Policy in 1978 marked the beginning of a new era in China's economic development. Currently, the country's gross domestic product (GDP) averages roughly 10 percent, indicating that it is a developing state (Knight 2014). Consequently, numerous multinational corporations (MNCs) view China as a viable partner and investment opportunity. The attitudes of local employees towards their workplaces and careers are one of the greatest obstacles associated with conducting business in the Chinese market. Most importantly, historical events, societal developments, and other local elements that have caused generational disparities must be taken into account (Clark 2017; Jia et al. 2016; Harmel & Yeh 2015).

There are several studies focusing on Western countries and their employees' perspectives, but few authors have examined the Chinese context of the topic at hand (Yi, Ribbens & Morgan 2010). Those who were born in the 1970s, 1980s, and 1990s exhibit the most striking disparities.

In light of this, it is obvious that additional study on the generational attitudes of employees in China who work for MNCs is necessary in order to provide actionable recommendations and boost the effectiveness of organizations.

What factors have the greatest impact on the workplace attitudes of employees in China's multinational corporations due to age differences?

This dissertation seeks to investigate the present literature and the responses of the Chinese respondents who will be questioned for the research. The following study objectives are created to address the aforementioned research issue in detail:

To examine the contemporary academic literature that examines the work ideals of Chinese employees; To specify the factors that distinguish the work attitudes of each of the post-1970s, 1980s, and 1990s generations; To analyze the data received from the participants and compare it to the existing literature based on variables such as gender, work-family balance, job choice satisfaction, etc. Under consideration of the local environment, draw applicable findings and make recommendations to MNCs operating in China.

In China, it is postulated that gender-related attitudes, collectivism, social reforms, cultural identity, and technological progress distinguish SWB across generations in the workplace.

This dissertation follows a conventional format, including an introduction, literature review, methods, analysis and discussion, conclusions, and suggestions for future research. The purpose of the critical literature review is to gather knowledge regarding the most important theories, concepts, and events of the 1970s, 1980s, and 1990s. On the basis of data obtained from recent evidence and the responses of study participants during interviews, conclusions are offered. To illustrate the findings, extracts from the interviews are shown.

The qualitative method is utilized to evaluate the data and provide pertinent recommendations to China-based MNCs. In addition, the study analyzes the gaps between research and practice on a generational approach to employee management in the workplace.

Literature Review

Identifying Key Concepts and Assessing the Need for Change: MNCs and China

A multinational corporation is an organization that operates in at least one additional countries besides its native country. The two defining characteristics of multinational corporations are their size and global presence, which is manifested in the export and import of manufactured goods and services. These firms make substantial investments in other markets and establish factories to relocate operations to those nations. In China, MNCs contributed significantly to the growth of the local market: "in 2004, MNCs accounted for 28% of China's industrial output and 19% of its tax revenue" (Park & Vanhonacker 2007, p. 8).

Today, about 85 percent of intellectual property is owned by multinational corporations, which also brought a substantial amount of monetary transfers and management expertise. According to Park and Vanhonacker (2007), the issues over the employee-relations practices of global corporations are foremost and underdeveloped (Akhtar & Renyong 2014; Cooke 2009; Foley & Lu 2007). Conflicts arise in Chinese workplaces due to a lack of awareness of the local culture and, most significantly, generational disparities.

One of the fundamental themes in China's economic development is the fact that both domestic and multinational corporations are considering the formation of new joint ventures and the expansion of existing ones (Yin & Jamali 2016; Zhang 2009). This collaboration is mutually beneficial: on the one hand, Chinese enterprises are searching for ways to join foreign markets, and on the other hand, multinational corporations require support to flourish on domestic markets (Tian & Slocum 2014; Sardana & Zhu 2017; Schmitz, Froese & Bader 2018).

According to a study by KPMG, one of the Big Four accounting firms, all stakeholders must support this development because it is a means of overcoming the economic crisis (Future for MNCs in China: a KPMG study 2012). Specifically, many Chinese organizations intend to quadruple their staff in order to fulfill the expanding demands of foreign corporations.

Subjective Well-Being as an Indicator of Attitudes in the Workplace

It is vital to apply the notion of subjective well-being in order to better comprehend the attitudes of Chinese employees regarding their profession and workplace (SWB). It is a multifactoral construct that reflects an individual's concept of himself or herself, his or her life, and social standing. According to Diener, Lucas, and Oishi (2018), the majority of studies on SWB are generalized since the notion of SWB is formed at the confluence of economics and psychology, utilizing quantitative and qualitative methodologies that show a person's socioeconomic situation and emotional responses.

The socio-economic approach to studying people's perspectives calculates the level of subjective well-being based on the national income per capita and the gross domestic product. The majority of recent studies cast doubt on the extent to which subjective well-being increases alongside the expansion of social welfare (Diener, Lucas & Oishi 2018).

One of the most important SWB complexes is responsible for professional relationships: occupation, professional identity, money, partnerships, etc. Subjective well-being is significantly influenced by the laborer's state of well-being (Rozkwitalska 2017). An employee's work-related values reflect his or her perspectives of professional activity, including internal values connected with self-actualization, motivation, burnout, and labor outcomes. In the context of a career, SWB is a criterion of professional identity and a reflection of a subject's attitude toward the process and outcomes of work.

The primary determinants of SWB in the professional realm include job satisfaction, professional health, quality of working processes, financial condition and satisfaction, subjective economic position, and adequate income in relation to individual demands (Rozkwitalska 2017). The components of the well-being of various professions' representatives are investigated, and efforts are made to discover characteristics of the professional environment that contribute to an increase in SWB.

Generation as a Social Group Concept

Karl Mannheim launched the first significant attempt to depict the concept of a generation as a social group by formulating the problem of comprehending the connections between members of the same generation. The author stated that the generation is not a social group because the latter is a collection of persons engaging based on preexisting or naturally occurring relationships (Cassell 2017; Burnett 2016). According to Mannheim, generations do not correspond to these two qualities and, as a result, cannot be regarded a group, but rather a unique social event.

Nevertheless, Kim et al. (2018) assert that Mannheim defined the criterion of belonging to a generation as a class fitting, such as a person's location or social status. Class affiliation is an objective reality, irrespective of whether an individual is aware of it or acknowledges it (Teclaw et al. 2014; Srinivasan, John & Christine 2014). Thus, Mannheim defined generational membership as a social position. However, the author did not rule out the emergence of subgroups within the same generation as a result of personal interactions between members of the same group.

Examining the Key Characteristics of the Decades Following the 1970s, 1980s, and 1990s in China

Companies have never before faced such a synthesis of acquired knowledge, professional experience, and youthful exuberance. Diverse perspectives, misunderstandings, disagreements, paradoxes, intrigues, and other issues can be viewed as characteristics of the modern workplace in China's multinational corporations (MNCs) (Lyons & Kuron 2014; Lyons et al. 2015; Lee 2016; Lee, Brown & Wen 2016). The different generations of employees are likely to alter their opinions of the workplace and the future of the work process. Digital revolution expands the generational gap and drastically escalates the issue of adjusting to new contexts (Dueck & Han 2014; Hollinshead 2017; Cheng 2014).

Representatives of the late Millennials generation are the most adept at adapting to conditions of rapid change, while smartphones, laptops, and headphones are a vital part of their daily lives.

In contrast, older generations, despite their professional expertise and high levels of competence, may not always know how to approach a laptop. Wen, Muthuveloo, and Ping (2018) and Bruche (2009) think that such a disparity in worldviews is inevitable, and that it is impractical to assemble all the unskilled enthusiasts or barely competent workers in one company: doing so will harm the microclimate in the team and the entire work process. Costanza and Finkelstein (2015, p. 320) assert that "scanning the environment, identifying workforce trends, developing appropriate HR policies and practices, and evaluating those policies and practices are time-tested organizational best practices." In an era of digitisation, multinational corporations are expected to adapt their workspace, employment structures, and work culture in order to face the future with confidence.

After 1970 and the Cultural Revolution

Prior to 1949, the People's Republic of China (PRC) was known as the dynasty empire. Since the proclamation of the People's Republic of China, the nation has experienced numerous momentous and dramatic events that have dramatically altered the values of its people. Yi, Ribbens, and Morgan (2010) classify the three major eras as "Republican (born 1930-1950), Consolidation (born 1951-1960), Cultural Revolution (born 1961-1970), and Social Reform (born 1971-1976)." (p. 603).

The authors' assumptions are based on the concept of perceptional differences elucidated by Egri and Ralston (2004), who investigate cross-cultural shifts and generational differences among individuals in the United States (US) and China. It is asserted that knowledge of how employees view their work assists in anticipating their resistance or receptivity to new treatments (Egri & Ralston 2004). In many ways, the social and political developments altered the perspectives of many people, whose impressions vary based on gender, contentment with profession choice, work-family balance, etc. It should be noted that people born at the junctures of decades tend to adopt the traits of both, making it considerably more difficult to anticipate their future choices.

In the peak of the Cultural Revolution during the 1970s, traditional Buddhist precepts were heavily criticized. The official task of implementing the Cultural Revolution failed to adhere to the Marxist-Leninist method for constructing socialism, according to Yang (2016). (CCP). However, Mao Zedong, fearing that officials' discontent with his policies would increase, gave this notion a different interpretation. The Confucian legacy was destroyed and deemed outmoded, while the power of a single political leader was advocated as the path to the country's future development (Yang 2016).

The general trend toward communism compelled parents to instruct their children in the importance of contributing to the common good and acting like Little Red Guards. According to Perry (2018), children and adolescents who lived in the 1970s were witnesses to this tremendous occurrence, which indelibly impacted their entire lives. Yi, Ribbens, and Morgan (2010) concur with the cited scholar and add that this generation has also experienced natural disasters and poverty, which compels them to view any changes with extreme caution.

Beginning in the 1960s, the self-sacrifice of the Chinese as a national trait was discouraged due to a trend towards individualistic concerns. Despite the fact that the Cultural Revolution lasted until Mao Zedong's death in 1976, the 1970s are considered the most important. To better comprehend the modernization of China, one must view it as a process of transformation, a protracted shift from one social condition to another.

Regarding China's modernization, this is a transition from a traditional agricultural society to a contemporary industrial one. It is considered that the 1970s generation endured more catastrophic occurrences than any subsequent age (Edge 2014). Due to their precarious circumstances, they tended to pursue higher education and rely solely on their own efforts in life and work. High intelligence and college education also enabled individuals to enhance their abilities and knowledge so that they could apply them in the workplace and become successful professionals.

The Eighties and Social Policy

In many ways, the Marxist conception of social development dominated in the PRC until the 1980s. According to Wang (2014), even the processes of pre-revolutionary China were widely regarded as conforming to the formation theory, which reduced the struggle of workers and peasants against Chinese landlords, foreign capital, and Manchu dominance to an explanation of the causes and nature of its socio-historical dynamics.

Lian (2014) and Cherrington (1997) indicate that the notion of constructing socialism with Chinese features, which was proposed by the Chinese leadership in the early 1980s, widened the field of study by emphasizing the exploration of novel approaches. It became vital to acknowledge the distinctiveness of ancient Chinese culture and social ideas, as well as their influence on current development (Wang 2016). Midway through the 1970s, it became evident that successful modernization was not possible while preserving tradition.

Managerial Marketing. B Randing And Company Image Cheap Mba Definition Essay Help

Introduction

An event is notable if it occurs once or repeatedly within a short period of time and leaves a lasting impact. This occasion could include festivities or performances, speeches, and ceremonies. The majority of events are arranged to commemorate cultural, political, or cooperative goals.

Recent years have witnessed substantial expansion in the event packaging business. The government's attention has been brought to the significance of this industry to the economies of various nations as a result of its expansion. The development of events supported by state governments has prompted the establishment of units. The purpose of which is to connect the success of tourism to the outcomes of these events. According to a number of academics, the success of an event has a good association, first with the visiting tourist and then as a method of conducting business. Providing quality beverage and food services, as well as the perception of authenticity, are agreed-upon factors that influence the happiness of event attendees.

In today's service-driven economy, corporations bundle their goods and services with an experience in order to increase sales. To reap the full benefits of experience staging, firms must embrace a fee-commanding, experience-engaging design. The transformation of promoting or selling an experience has not been simple for established businesses to execute.

The progression of economic history can be retraced through the many evolutionary stages experienced by birthday cakes. As proof of the agrarian economy, women baked birthday cakes from the very beginning. Combining farm products, such as sugar, butter, eggs, and flour. All of these together are inexpensive or free. At Betty Croker, women spent a dollar or more for pre-mixed components as the economy of the industrial period developed. At the beginning of this service-based economy, busy parents ordered cakes from bakery shops that, if purchased for $15 or $20, would have cost significantly more than the packed ingredients. In the 1990s, parents did not celebrate birthdays with cakes or celebrations. Instead, substantial sums were spent to completely outsource an event. From exploration zone to Chuck E. Cheeses, other event-promoting companies were noteworthy for children. Recently, free cakes have become the norm at festivals. Thus, this is the beginning of an economy of experience. Despite the fact that economists have grouped services and experience together, experience is a distinct economic gift that is distinct from services and goods. This economic gift is acknowledged and articulated today since experience is indisputably what people want, and more businesses are planning and implementing accordingly. From now on, leading firms will learn that experience staging is the new competitive frontier.

Literature Review

design and execution of services

There is a line of distinction between experience and service; to comprehend this divide, recollect an episode of the old television show Taxi. In it, Iggy, a poor and hilarious driver, decided to become the greatest taxi driver this planet has ever seen. He offered beverages and sandwiches to his passengers while providing city excursions. Frequently, he sung Frank Sinatra songs. He transformed an average taxi ride into an unforgettable experience that his clients will never forget. Iggy presented an altogether new economic contribution. The experience of riding in Iggy's taxi was significantly more important to his passengers than the service of being driven around the city. The response was that his consumers paid him more money. One of his customers had to pay far more than the statutory sum since poor service prolonged his experience. Iggy supplied services – taxi driving – as a front for selling an experience, which was in fact what he was doing. If businesses use their services as a stage and their products as props to engage with clients on an individual level, they will create a memorable experience. Thus, commodities are said to be fungible, while goods are said to be tangible, services are said to be intangible, and experiences are said to be memorable. Following Walt Disney, the pioneer of the experience economy, we will refer to experience purchasers as guests. This customer prefers to value firms' revelations over time. While pecuniary contributions, such as services and presents, are secondary to the guest. Experiences are personal, dwelling in the mind of an individual, including emotional, intellectual, and bodily components. Thus, the experiences of two individuals will always be distinct. This is because an experience consists of the fundamental interactions between an individual's mental state and the stage show. Walt Disney and his enterprises have cleverly utilized the concept that experience is the essence of show business. Today, marketing experience is valued in industries far from parks and theaters. The development of innovative technologies has altered the nature of experience. From online chat rooms to interactive video games, new types of entertainment have emerged. According to new schools of thought, business is more than the manufacture and sale of new things; it also involves information distribution and interactive life connection experiences.

At Planet Hollywood and Hard Rock Café, food serves as a prop for the entertainment that is the primary focus. Cabalas', Nike town, attracts clients by presenting them with amusing activities and attractive displays. Often commonly termed entertailing. However, experiences cannot be considered solely entertaining. Businesses stage experiences when they want to engage customers in a personal way that will be remembered for eternity. Sir Collin Marshal, the former chairman of British Airways, remarked that in the field of business travel, the commodity mentality is the belief that a business is only executing a function — in our instance, carrying people from point A to point B on time and at the lowest possible price. The airways compete with others on the level of offering an experience, going above and beyond just functionality. Experiences are not limited to companies that manufacture consumer items.

The attributes of experiences

Before collecting an admittance fee, a business must plan and implement an experience that customers deem to be worth the cost. Experiences, like goods or services, will require a flawless plan from conception through marketing and delivery. Inventiveness and uniqueness will always precede income growth. Experiences, like goods and services, include unique characteristics and face significant design challenges. One method to consider experiences is from a two-dimensional perspective.

Participation of the visitor

At one end of the spectrum is inactive involvement, in which customers have no effect on performance. Attendees of symphonies are a fantastic illustration of this type of participant. During an event, they gain experience by observing and listening. On the opposite end are active players. Here, clients contribute to the formation of the experience. Skiers are a fantastic illustration of this type of participation. Even ski race spectators cannot be considered as passive participants. By participating in the ski race, they contribute to the visual experience of people at the event.

The affiliation of the visitor

This is often referred to as the customer's or guest's ability to interact effectively with the environment. Connection unites the client or attendee with the event's performance. At one angle of connection range, absorption occurs, but at the other, immersion occurs. Guests seated in the grandstand and seeing the Kentucky Derby tend to focus on the action occurring beneath and in front of them. While those infield are immersed in the noises, sights, and smells of their surroundings. In physics class, frantically scribbling notes on a notepad can be far more engaging than reading a book. However, seeing a film in a theater with others, stereophonic sound, and a large screen is more immersive than watching the same film on a home video player.

The classification of experiences

Attending a live performance or watching television are examples of entertainment experiences in which the involvement or participation of consumers or guests is more passive than active. In this instance, the connection at the event is one of absorption rather than immersion. Educational events, such as taking a ski lesson or attending a class, engage people actively. However, students are typically more detached from the event than absorbed in it. Escapist experiences can educate in the same manner that educational ones do, or they can be funny as entertainment, but with a greater client immersion. Participating in an orchestra or acting in a play involves active and immersive experiential participation. Active guest participation must be lowered for an escapist experience to become ecstatic, the fourth type of experience. Here, visitors are immersed in the atmosphere, yet they have no effect, such as a gallery visitor. All experiences of depth, such as a trip to Disney World, embrace all dimensions of experience. The most essential question for those in positions of authority to ask themselves is, "How unique and distinct is the experience my company provides?" The quality of the experience provided will significantly impact the business of the firm. Experience must meet the customer's demand or expectation, just as goods or services do. Experiences are the product of a process of examination, scripting, and execution, whereas services are the outcome of a process of examination, blueprint construction, and enhancements.

Creating an exceptional experience

It is anticipated that developing experiences will become a business in the future, similar to product and process design. Design principles are undeniably evident from the actions and outcomes of organizations already in the industry. Below are the experience design principles.

The experience must have a theme

When one hears the names of entertainment-oriented restaurants, he or she forms an impression of what to expect from such an establishment. For instance, the rain forest café and the Hard Rock café, to name a couple. The first and most crucial step that owners must take when attempting experience staging is to create a memorable theme. A badly sculpted topic prevents prospective customers from imagining what to anticipate. And the memories from such locations are frequently fleeting. Such is the case with Gertrude Stein's Oakland. The guidelines are frequently violated by retailers. The motif created does not correspond with the retail experience that is to be performed, despite the fact that they trumpet the shopping experience. When it comes to theme creation, home appliance stores are especially lacking in originality. Considering that a Las Vegas-based mall features the notion of a "ancient Roman marketplace," this motif has been realized in every way through architectural elements. These features include pristine white columns, marble floors, an outdoor café, running fountains, living trees, and completion during a thunderstorm.

Impression complemented with positive cues

While the topic lays the groundwork, it is of utmost importance that the experience leave an unforgettable mark on the audience. The impression is what a guest takes away from an encounter, signifying that the theme has been accomplished. Companies must introduce clues that confirm the nature of the experience to the client or guest in order to establish the desired impression. Each cue must provide support for the theme. Harob George, the creator of a Washington, D.C.-based coffee business, conceived the company's mission statement (the marriage of Old world Italian espresso bars with fast paced American living). Customers are able to create queues without the need for signage, which would have deviated from the theme's objective, due to the interior design's representation of the ancient world. There is a feeling of quick service in a pleasant environment. Additionally, the franchise owner encourages his employees to recall the faces of regular customers in order to serve them without prompting. The cue, regardless of its size, contributes to the creation of a memorable experience. When a restaurant host informs you that your table is ready, he or she has given you no indication. However, the proclamation by a Rainforest Café host to her visitor to be on the lookout for an upcoming adventure tends to generate the impression of a unique encounter. Cues produce impressions, and impressions generate client experiences that are memorable. An unpleasant experience could be the result of an undervalued, ignored, or disorganized architectural feature. A customer may be left perplexed if an unintended visual signal is applied. After receiving information on the direction, it may be difficult to locate one's hotel room. The client's experience would be enhanced by clearer and more comprehensible indications on the walkway.

Remove unmotivated cues

Positive indicators alone are insufficient to preserve the authenticity of the guest or client experience. Everything that conflicts with the concept must be eliminated. Experienced stagers must adhere to this rule tenaciously. In offices, shopping malls, and airplanes, trivial massages are common. Despite the fact that customers occasionally require guidance, service providers frequently employ improper massage forms. For example, trash cans at fast food restaurants may feature a "thank you" sign. Instead, stagers of experience may transform the trash can into a talking, garbage-eating character that expresses gratitude when the lid is opened. A good massage is conveyed to the customer without any negative cues. The simplest way to transform a service into an experience is to deliver subpar services. This creates an interaction that is memorable, but of a negative one. Excessive service can ruin an experience.

The five senses must be stimulated.

The sensory stimuli accompanying an encounter must advance its topic. The more senses involved in an encounter, the more unforgettable that experience will be. Smart operators of shoeshine shops enhance the aroma of polish using fragile material fragments. Aroma and sounds that do not contribute to the shoe but improve the whole experience. During the blending of produce, grocery stores, channel bakeries, and others employ sound and light to resemble a thunderstorm. The Cloud Forest

Fair Value Accounting: Improving And Distorting Reports Cheap Mba Definition Essay Help

Table of Contents
Introduction Criticism of Fair Value in the Context of Financial Reporting Discussion Concluding Remarks References

Introduction

Fair Value Accounting is a subject of financial reporting; accordingly, the effect of this method on accounting and financial reports is deemed crucial. Initially, it was asserted that the fair value method undermines the fundamental concept of conducting a business, particularly for entrepreneurs whose businesses are dependent on net cash flows over time. Fair Value Accounting, on the other hand, is a vital aspect of the banking system. Consequently, the view of the financial reporting system is contingent upon the company paradigm and general reporting strategy.

Discussion

First, it must be mentioned that the Financial Accounting Standards Board completely enhanced the decision-making relevance of financial statements (FASB). This board has enhanced the financial accounting reporting system's fair value recognition by amending the generally accepted accounting rules (GAAP). As a result, a model of mixed accounting was established, which relies on the altered reporting structure. In their research on the new legislation, Plantin and Sapra (2008) underline the following concept: "The new regulation affords the financial industry a chance to enhance the financial reports for the third quarter. By applying reasonable assumptions to fair-value identification, corporations can repair excessive write-downs in the past and escape the vicious loop between distorted market pricing and diminishing asset worth, resulting in a better-looking bottom line over the past three months. However, fair-value accounting is really a symptom, not the cause, of the ongoing financial crisis. Even its suspension would not end the catastrophe." From this perspective, it should be mentioned that fair value accounting cannot be utilized for the analysis of economic processes; as a result, financial reporting, if used for data systematization, frequently appears distorted (Riahi-Belkaoui, 2004)

As for contemporary accounting rules, it should be noted that they are frequently discussed in the context of the growing acceptance of fair value and are frequently cited as a measuring attribute. Taking into account the financial accounting reports system, it is important to note that the transition to the fair value accounting model has not been devoid of controversy.

According to Ryan and Herz (2002), fair accounting information is frequently criticized for its poor level of dependability compared to the historical cost approach: "Estimation mistakes damage both the balance sheet and the income statement. In addition, unrealized changes in fair value from one period to the next, which are now required to be reported as gains and losses in financial statements, distort the results of operations if and when they flow through the income statement each period. Lastly, fair value accounting needs the proper matching of assets and liabilities, which is much more challenging to implement than the matching of revenues and expenses under the historical cost model." Moreover, it is imperative to emphasize that the empirical evidence of financial accounting reports and findings on this topic generally suggests that the reliability of fair value differs depending on the extent to which the fair value estimations incorporate publicly-observed market-based information versus management-produced information (Scott, 2003).

Investment securities that are exclusively traded on active markets are required to provide the most accurate financial accounting proof pertaining to the notion of fair value's reliability. Moreover, the difficulties of reliability in various researches are often obtained from the examination of banks and other financial institutions for whom economic tools constitute basic operating benefits and charges. Anagnostopoulos (2005) underlines the following: "Such firms may be fundamentally distinct from companies holding inventory, property, plant, and equipment, and other assets whose value is derived from the execution of a business plan rather than fluctuations in market prices." Therefore, it is questionable to generalize these research findings to all economic sectors." From this perspective, it can be argued that the prerequisite for adopting fair value accounting is the availability of generally available market values for the assets and liabilities. Despite this, it is important to note that for numerous key classes of assets or liabilities utilized for fair value accounting and financial accounting in general, the prices at which transactions are frequently recorded do not correspond to the hypothetical perfect competitive market. Therefore, the overall system of financial accounting reports should be adjusted so that these reports and financial accounting match to actual transactions. In light of this, loans appear to be an excellent illustration, given they are not standardized and are not typically traded on deep and liquid marketplaces. Thus, financial reporting of the loans is more credible, as they are representative of numerous asset kinds that trade largely on the over-the-counter (OTC) market, where prices are determined by bilateral negotiation and matching. (2006) Martin and Rich. According to Hitz (2007), "currently, both US GAAP and IFRS require the disclosure of fair values for virtually all financial instruments" (IFRS 7, SFAS 107). The principles governing fair value accounting for financial instruments are also identical. IAS 39 and SFAS 115, 133 stipulate that trading securities and derivatives held for trading or as part of a fair value hedge must be assessed at fair value, with revaluation gains and losses recognized directly in income.

Financial Accounting reports, which are accessible for the sale of securities, are frequently prepared in the fair value format; however, the profits from historical cost reporting are regarded as other broad-based income until the exact realization phase.

Fair Value Criticism in the Context of Financial Reporting

First, it should be noted that fair value accounting has a high propensity to generate a declining value curve, as mandatory asset sales exacerbate the possible drop in the remaining assets. Consequently, the financial accounting reports will be based on these reduced numbers, which distort the true picture of financial activities.

Generally, the fair value losses reverse, as the required assets are often held until they become increasingly crucial. Thus, reporting focuses on losses, while the overall picture of transactions is frequently omitted.

Conclusion

Fair Value Accounting is the reporting method that can both improve and distort financial accounting reports. It has been stressed that everything depends on established norms and, in particular, the nature of financial operations and transactions.

References

The implications of historical cost versus fair value accounting in banking for oversight, provisioning, financial reporting, and market discipline. 109–127. Journal of Banking Regulation, Volume 6, Number 2, 2005.

The Decision Usefulness of Fair Value Accounting: A Theoretical Perspective, by J.-M. Hitz. European Accounting Review, Volume 16, Number 2, pages 323-364, 2007.

Martin, R. D., Rich, J. S., & Wilks, T. J. (2006). Auditing Fair Value Measurements: A Review of the Related Research 287 Accounting Perspectives, 20(3)

Plantin, G., and Sapra, H. (2008). Accounting for fair value and financial stability. 12th Financial Stability Review, Banque de France Evaluation and monetary security

A. Pollock (2008). The accounting theory of "fair value" presents conceptual difficulties. Commission of Securities and Exchanges.

Riahi-Belkaoui, A. (2004). Lessons for the United States in Value-Added Reporting Quorum Books, New York

Riahi-Belkaoui, A. (2005). Value-Added Performance Reporting Outcomes Westport, Connecticut: Quorum Books

Ryan, S. G., Herz, R. H., Iannaconni, T. E., Maines, L. A., Palepu, K., Schrand, C. M., et al (2002). Interest and Value Changes on Financial Instruments Reported at Fair Value 16(3) Accounting Horizons, page 259

W. Scott, Financial Accounting Theory, Prentice Hall, 2003.

Young, M. R., Miller, P. B., & Flegm, E. H. (2008). Fair Value Accounting's Role in the Subprime Mortgage Crisis 34, Journal of Accountancy 205(5).

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TC Furniture Manufacturing Company’s Layout Design Cheap Mba Definition Essay Help

Executive Synopsis

An analysis of the layout design of the TC furniture manufacturing company reveals the need for a model that can be utilized to generate the optimal layout design for modeling the processes needed to make timber goods, hence enhancing the company's market competitiveness. Fixed and flexible layout designs have been discussed in this paper, with a particular emphasis on the use of the CRAFT, BLOCKPLAN, and Graph theory modeling techniques to produce different layout designs, which could assist business organizations in determining the optimal modeling technique and layout design to implement. These decisions are essential for a company's market competitiveness. However, it is suggested that additional research be performed to establish how different analytical methodologies might be used to build a layout that optimizes the available resources and improves the performance of timber manufacturing plants.

Introduction

The success of the strategy is called into question by the employment of formal procedures to construct a design layout of a furniture production line for the goal of increasing the productivity of TC's furniture manufacturing company. This study focuses on analyzing the usage of flexible and fixed layout techniques, employing various formal methodologies to generate an effective plant layout design that delivers an effective performance optimisation process (Pinto Wilsten & Shayan, 2007). According to Aurich, Fuchs, and Wagenknecht (2006), a well-designed plant layout offers both direct and indirect advantages for optimizing the use of available resources and maximizing plant operations. The case study by Pinto, Wilsten, and Shayan (2007) demonstrates that various layout design strategies can be utilized to maximize available space in a manufacturing plant to make high-quality furniture. Using formal methods boosts plant productivity by decreasing the production lifecycle, the number of bottlenecks in a plant, the amount of work in progress, and the amount of time spent on material handling (Aurich, Fuchs, & Wagenknecht, 2006). The formal methods investigated in this study include CRAFT, AHP, and Graph Theory (Pinto Wilsten & Shayan, 2007).

Results on the challenges linked with the movement of materials within a plant include the employment of inefficient and costly ways for assigning and completing goods. Among the solutions is the use of inspection sections to improve the flow of materials by minimizing the plant's layout and shortening the distance materials travel within the plant in order to maximize productivity. In this instance, tests done using a variety of models based on a variety of characteristics demonstrate the significance and efficacy of employing formal methods to tackle plant layout issues. The objective is to maximize space utilization, financial investments, material handling expenses, and throughput time. Typically, the analysis of material flow underpins the formulation of a strategy for minimizing material travel distances within a manufacturing facility, based on the usage of the fixed path material handling method. When paired with the fixed path handling method, the minimal flow material distance offers the basis for establishing a strategy for determining the optimal handling shortcuts in material handling procedures (Banerjee & Zhou, 1995). Using the minimum product travel method, one should concentrate on the area or distance over which materials travel within a facility during the manufacturing process. In this instance, the correct method is determined after previous ways have failed.

Conceptual Structure

The graphic below depicts an analysis of the most effective strategies for designing the optimal layout (Pinto Wilsten & Shayan, 2007). In this instance, the process consists of input data and the actions conducted based on the application of various methodologies to generate a layout design for the production of nine distinct chair styles and three and two seaters, respectively (Chae & Peters, 2006). The inputs consist of product demand depending on the rate of material flow every month. In this instance, the flow of materials, which is an integral part of the formal design process, is incorporated into the framework to identify the optimal layout design and the optimal strategy for producing an effective design. In this instance, activity interactions and material flow contribute to the creation of an ideal relationship diagram based on space needs and available space (Banerjee & Zhou, 1995). In this instance, the space relationship diagram depicts the relationship between various space layouts and the point at which alternative designs are evaluated to identify the optimal strategy, as described in the paper's body. As depicted in the first diagram below, once the linkages have been defined, alternative design methods are examined and the appropriate design method is implemented.

The conceptual framework illustrates the relationship between the outcomes of the processes and the activities for each process utilizing various design approaches. The conceptual framework serves as the foundation for the technical study of the design layout methodologies in this instance. The material flow in each particular design yields the best analytical results for each method and the benefits associated with each technique. The final objective is to optimize the layout's performance.

Technical Evaluation

In this instance, the part consists of a study of the many computerized approaches that have been employed in the layout design to develop layouts with varying advantages and disadvantages that are suitable for the production of furniture. In this scenario, CRAFT (Computerised Relative Allocation of Facility Techniques), ALDEP (Automated Layout Design Program), and BLOCKPLAN will be analyzed.

CRAFT

An analysis of the application of CRAFT reveals that the technique is based on the principle of minimising the cost of transporting resources and is expressed as a linear function of the distance over which the plant's materials are transferred. The layout permits eleven actions per product, but does not permit the sequential transfer of materials. According to Chae and Peters (2006), the program can be used to create updated versions of the best existing layout based on calculations that use neighboring and divided sections of the same size (Fu & Kaku, 1997). Included in the method's input requirements is the configuration of the basic layout of the furniture production factory. The sizes of the departments and the order of the elements used in the departments serve as the basis for creating the matrix, which depicts the flow of materials in terms of man hours, days, years, and weeks. The interdepartmental flow of materials and the space used per unit area are factors that can be used to calculate the total cost of material movement in the plant layout (Morrison, 1996). To reach a position without cost savings, it is necessary to repeat the method. The technology does not give an optimal option for minimizing plant costs and distances traveled (Pinto Wilsten & Shayan, 2007). The primary benefit of the layout design approach is that it enables users to establish permanent places based on the fixed layout design method. It uses minimal computer time, is mathematically effective, and can be used to design the layout of office buildings and furniture production facilities (Pinto Wilsten & Shayan, 2007). In addition, earlier encounters can be reviewed and accurate cost-saving prints can be generated (Morrison, 1996).

The method is only effective if an initial layout of the desired layout design is provided, allowing the system to generate the required layout. In addition, the leaner model used in the design predicts the passage of materials in a straight line, which is not the case in practice. In this instance, it is feasible to switch between departments, and the inputs must be formatted properly. The concept enables for a maximum of forty departments to be incorporated into the layout design. It is possible to consider unfavorable relationships.

ALDEP (Automated Layout Design program)

based on Pinto Wilsten and Shayan (2007). The Automated Layout Design application is utilized when activities are the primary focus of the layout design. In this instance, the manufacturing system is dependent on conditions that are continually changing, which prevents the gathering and utilization of correct data. Here, connected activities play a major part in the decision-making process. This strategy demands the designer to collect and utilize similar activities that are near to the intended activities and possess the necessary size and category (Ratnasingam & Wagner, 2009). It is essential that the interconnected elements be chosen and added until a certain number is reached. It has been demonstrated that the method can allow the examination of up to 63 departments with varied layouts in a single configuration. In this instance, it is feasible to limit the layout type.

The design is based on a variety of specifications, including the width and length of the floor, the size of the printing design, the number of departmental preferences, and the number of to-be-generated layouts. In this context, it is crucial for the designer to know the building's layout before setting up the layout design.

Genetic Programming

According to Ratnasingam and Wagner (2009) and Yang and Peters (1998), this strategy is based on the usage of a population of potential solutions including between 30 and 60 individuals. Using this concept, several ways to problem-solving have been presented. Space layout is a crucial component of optimisation that can be achieved through the application of the algorithm by examining the flow of materials and isolated areas when different sources of raw material and final products are taken into account (Yang & Peters, 1998). In this instance, a preexisting layout, the design's adaptability, and the material handling procedures are crucial design elements. The ratios of proximity and distance are crucial to the layout design. Changes in the location of the goods and the materials used in the manufacturing process are crucial factors that significantly influence the design process (Yang & Peters, 1998).

This is a layout design method that employs an encoding methodology that relies on an initialisation procedure to address the layout design problem. In this instance, the strategy is comprised of a number of components, including the creation, evaluation function, selection of parents involved in the reproduction of new elements, genetic operators, and conclusion of the layout design. To overcome the space and logistical issues, the basic objective is to minimize material handling expenses. The method focuses on user input data for graphical solution presentation and offers choices that maximize available resources. In this situation, ideal solutions are constrained by the quantity of available space, however poor alternatives have been created to meet more complex layout difficulties (Chae & Peters, 2006). Various solutions have been presented when employing the approach, but the ideal answer is a layout containing elements whose number increases as the number of layouts and facilities per block rise.

Using BLOCKPLAN

BLOCKPLAN is the next formal technique choice that may be applied to the layout design of the furniture assembly line. In this instance, the application gives the user with interactive tools for constructing a multistory plan. Typically, the design layout is depicted in the following diagram.

This layout planning technique enables a design that prioritizes the placement of each activity (Yang & Peters, 1998). The diagram is comprised of product quality and quantity, time data and how the elements relate to the design's space needs, the relationship between activities, and the connection to the relationship diagram (Bowen & Hinchey, 1999). The availability of space, space requirements, tentative plans, evaluations, and the plan section are crucial to the design in this instance. The plan gives a layout that illustrates the relationship between several points in the design of the layout.

The preceding method is less productive, hence the following layout has been implemented.

The formal procedures utilized in this instance vary for a variety of reasons. Here, the significance of employing computerised formal methods serves as the foundation for an argument regarding the best approach to adopt and for determining whether or not the strategy may be successful, depending on the benefits and drawbacks of the methods.

Evaluation

Improving the productivity of the TC furniture manufacturing company requires the best layout design based on numerous modeling techniques to build the most efficient furniture layout. The approach is to optimize the available space based on multiple layout design methods and enable the manufacturing organization to operate with optimal space capacity in order to reduce costs associated with poor space use. The approaches utilized to meet the layout plans can be either flexible or set. In this instance, a layout design based on graph theory demonstrates that the method can be utilized efficiently to generate a design that integrates flexible and fixed layout designs depending on the distance moved by materials and goods for best resource utilization. There are flexible and fixed design methods among the layout decisions that can be made based on various design and modeling techniques.

Typically, it contains the number of centers required within a manufacturing area, the required quantity of space and capacity, the position of the production sites, and the layout configurations. CARFT, ALDEP, and genetic algorithms are among the modeling techniques used to generate distinct designs with optimal space requirements, and their outputs vary in order to get the best outcome. An review of the methodologies reveals that the concept of product demand changes has not been incorporated. This is because CRAFT focuses on minimizing cost based on the distance moved between items in a manufacturing line and depends on early layout tweaks to optimise resources (Chae & Peters, 2006). The ALDEP approach is restricted to operations performed on products and is incapable of collecting correct data for doing computations. It depends on the coordination of activities within the manufacturing facility. The genetic algorithms method, on the other hand, allows manufacturers to optimize available space based on the proximity of distinct production points inside the manufacturing plant. Nevertheless, the solutions give flexibility for the flow of material handling expenses regardless of fluctuations in product demand.

Strategy Analysis

The strategy combines the methods of flexible and rigid design layout. The purpose of combining both strategies is to produce a hybrid layout design that incorporates the benefits of both ways. The strategic challenge is to create a good layout to maximize material and product flow productivity, while minimizing the overall area occupied.

Tobacco Industry: Products And Firms Cheap Mba Definition Essay Help

Since its inception, the tobacco industry appears to be one of the most successful and lucrative businesses. More than five billion billion billion cigarettes are generated annually. Approximately 300 billion US dollars are earned by the industry's businesses. In the following paper, the current state of this industry will be investigated.

The items supplied

The industry's products include cigarettes, smokeballs, snuff tobacco, and other related items.

Five leaders in the industry

China National Tobacco Co., Philip Morris International Inc (Altria Group Inc), British American Tobacco, Japan Tobacco International, and Imperial Tobacco Group are the top five corporations in the sector.

China National Cigarette Co.

China National Tobacco Co. is the industry monopolist. More than 33 percent of the world's tobacco products are produced by this corporation (China National Statistics Bureau Yearbook 2010). The corporation is controlled by the Chinese government and is headquartered in Beijing, one of the largest industrial centers in the world and the country. The company's sales are approximately 32 billion dollars (China National Statistics Bureau Yearbook 2010). This company employs approximately 500,000 individuals, which accounts for 0.4% of total employment in China (China National Statistics Bureau Yearbook 2010). Approximately 4.18 billion U.S. dollars have been invested in capital (China National Statistics Bureau Yearbook 2010).

Philip Morris International Corporation (Altria Group Inc)

Philip Morris International Inc (Altria Group Inc) is the industry's second-largest corporation. It is in New York City, United States. The business controls 17.6% of the global market (Masina 2010). Its annual revenue is 89.8 billion US dollars. The number of employed persons is two hundred thousand. The amount of invested capital is 2,7 billion U.S. dollars (Masina 2010).

British American Cigarette

British American Tobacco, based in London, is the third largest firm in the industry with annual sales of $43.0 billion USD, representing 15.1% of the global market. The number of employed individuals is 100,000. The amount of investment capital is 2,2 billion U.S. dollars.

Japan International Tobacco

Japan Tobacco International, headquartered in Geneva, Switzerland, is the fourth largest corporation in its industry, with 6.4% of the global market share. The annual sales value surpasses 39.6 billion US dollars (Masina 2010). The number of employed individuals is sixty thousand. The amount of investment capital is 1,4 billion U.S. dollars (Masina 2010).

Imperial Tobacco Group

Imperial Tobacco Group, headquartered in Bristol, England, is the fifth-largest firm in its industry with annual revenues of $25,2 billion USD (Masina 2010). The business controls 3.7% of the global market. The number of persons engaged is twenty-five thousand. The amount of capital invested is 1,1 billion U.S. dollars (Masina 2010).

The issues within the industry

As a result of the business's products being in constant demand among the world's population, the industry faces few challenges. The World Health Organization (WHO) and the United Nations Organization (UNO) continue to represent the industry's greatest challenge.

alterations in government control

With the advancement of medicine in the 20th century, the question of forbidding the manufacture of cigarettes appeared to be on fire (Lee 1998). However, it was evident that it would be difficult to convince them to abandon their favorite habit. Despite this, numerous global governments have implemented programs to reduce tobacco usage among their citizens. Currently, both the state of government programs aimed at reducing smoking and the functioning of the tobacco industry appear to be problematic. The government's policies aim to reduce cigarette manufacturers' advertising time, prohibit smoking in public places, and prohibit the sale of cigarettes to those under the age of 18. In addition, cigarette producers are required to inform their customers about the potential health risks associated with smoking. All of this has a significant impact on the industry's operation.

The law mandating a price increase for tobacco goods is the industry's second and most serious concern, both of which are a result of government regulation. In addition, the manufacturing of tobacco products is subject to extremely high taxes. As a result, buyers are unable to purchase the industry's products with the same vigor as before. This is the most major issue that has arisen in the sector during the past few decades.

The Strategies of Industry Firms Intended to Solve the Emerging Problems

The global tobacco industry is aware of the peculiarities of its business, particularly the damage it causes to people's health. They recognize that their products are detrimental to the environment. Therefore, their efforts are focused on limiting the harm their business causes. In particular, they attempt to implement novel industrial methods in order to reduce hazardous environmental emissions. Additionally, they shift their productions to isolated places. These companies collaborate to prohibit the selling of cigarettes to minors. The tobacco business also focuses on technological advancements intended to make cigarettes less hazardous to the public's health. Breed (2012), under Section 78, states:

The industry viewed the introduction of new filtered cigarette brands as the optimum option. Asbestos was used in the Kent micronite filter as the industry scrambled to create newer and better filters. In addition, it appears that some of the flavoring chemicals now used in cigarettes with minimal tar content may be dangerous.

As their strongest argument in the debate, businesses emphasize their role in employing people while negotiating with governments. They also seek to promote their business through sponsorship. Tobacco firms are frequently cited as the primary sponsors of a number of sporting events and aid efforts for people in developing nations.

However, not all of the tobacco corporations' strategies are honest and fair. Specifically,'massive magnitude and scope of this business campaign highlight how, when threatened by global public health initiatives, corporate interests ignore competitive considerations in order to coordinate their activities' (McDanel, P, Intinarelli, G & Malone, R 2012, par. 45). Depending on Breed (2012, par. 3),

The tobacco industry has offered research professionals millions of dollars to investigate numerous topics. The specified range of topics for these studies is intriguing: genetic differences between smokers and nonsmokers, personality traits of smokers, immunologic factor in cancer, general studies on cardiovascular diseases, lung defense mechanisms, and smoking and other behavioral factors in cardiovascular diseases. This list of themes is unclear and insufficient, but it does highlight a number of their primary interests… A significant portion of this study could lead to conclusions that remove tobacco from the forefront of public and legislative debate.

In order to maintain high levels of profitability, cigarette businesses employ a range of unfair business tactics. Among such unfair practices are television advertising that portray smokers as happy and healthy. Tobacco company officials exert considerable effort to have indirect advertising in popular television programs, films, and shows.

The outlook for the industry

Regarding the industry's future, it appears that it will continue to be wealthy and wildly popular, despite the efforts of groups to encourage a healthy lifestyle without smoking. It is true that representatives of such organizations have had some success, particularly after the 1980s (Lee 1998). Numerous individuals will respond to the efforts of organizations like WHO to discourage smoking. However, the majority of individuals are accustomed to accommodating their desires, even if they are associated with dangerous behaviors (Bardsley, & Olekalns1999). According to Lee (1998, p. 17), 'despite the assertions of groups that receive funds from tobacco tax revenues, punishment and preaching have not been, nor are they likely to be, significant factors in affecting smoking rates, particularly among adolescents.' Thus, it may be concluded that the tobacco industry will continue to grow despite the efforts of global governments to promote healthy lifestyles.

In conclusion, the tobacco sector environment appears steady and conducive to profit maximization. Despite major challenges posed by groups promoting a healthy lifestyle for this industry, this market segment will continue to expand steadily. This is because the buyers are committed to purchase the industry's products regardless of the circumstances. Even the deployment of new tax tactics and the requirement that cigarette manufacturers continually boost prices do not pose substantial challenges for the sector. The tobacco industry's titans, notably China National Tobacco Co., Philip Morris International Inc (Altria Group Inc), British American Tobacco, Japan Tobacco International, and Imperial Tobacco Group, report sustained earnings growth and expansion in a number of their sales areas.

References

Bardsley, P, & Olekalns, N 1999. Economic Record, vol. 75, no. 23, pp. 225-228, "Cigarette and Tobacco Consumption: Have Anti-Smoking Policies Made a Difference?"

Strategies of the Tobacco Industry, L. Breed, 2012, Web.

China National Statistics Bureau Yearbook 2010, Beijing: Statistics Press, China.

The Government's Crusade Against Tobacco: Can It Eventually Succeed?, D. Lee, USA Today (Society for the Advancement of Education), pp. 16-78, 1998.

Boom Time for Tobacco Sales?, The World Health Organization Annual Report, pp. 56-89, 2010. Masina, L.

McDanel, P, Intinarelli, G & Malone, R 2012, Tobacco industry issues management organizations: Creating a global corporate network to undermine public health, Web.

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St. Mary’s Organization’s Financial And Operating Indicators Cheap Mba Definition Essay Help

Table of Contents
Executive Synopsis Revenue Liquidity Productivity Capital Structure Bibliography

Executive Synopsis

The table attached to this report provides a comparative examination of St. Mary's financial performance as measured by financial ratios. The organization's ratios are compared to the national benchmark for healthcare organizations for the respective time periods. Comparing the financial ratios of the same company across time offers an examination of the firm's financial situation and profitability over time (Horne, 2004). The organization's financial health can also be determined by comparing its ratios to the industry average for the relevant time period.

Profitability

Profitability ratios are a class of financial indicators used to evaluate a company's capacity to create profits relative to its expenses and other costs incurred during a specific time period (Investopdeia). In the instance of St. Mary's, between 1990 and 1993, the organization's profitability improved significantly. This is evidenced by the gradual improvement of the operating margin from -30.24 percent in 1990 to 4.81 percent in 1993. Compared to the national average of 2.25 percent for the year 1993, St. Mary's financial performance in terms of profitability is much superior. However, the organization has not performed better in terms of gross margin, as the 1993 industry average of 7% is higher than that of St. Mary's. Even though St. Mary's was able to improve its financial performance on the gross margin relative to 1990 (-24.65%), it has failed to reach industry requirements. Due to the smaller gross margin, the company cannot offer a higher return on equity to its shareholders. In 1993, although the industry average was 14.88 percent, St. Mary's was only able to earn a return of 7.03 percent, which is substantially lower. Over time, however, the company's stockholders are receiving ever increasing returns. In this regard, the company has succeeded well financially.

Liquidity

Liquidity refers to a company's capacity to satisfy its periodic financial obligations. In proportion to the firm's ability to create adequate cash flows, it will be able to meet its financial obligations. Current ratio and quick ratio are indicators of an organization's capacity to meet its obligations (Ross, Westerfield, & Jaffe, 2004). St. Mary's liquidity has been uneven between 1990 and 1993. This is demonstrated by the comparative financial indicator statement. St. Mary's current ratio for 1993 is 1.68, whereas the industry average is 2.18. The current ratio is determined by comparing the value of an organization's current assets to its current liabilities. This suggests that the company's cash flow is considerably constrained and that it may have difficulty meeting its existing financial obligations. The quick ratio is the ratio of a company's immediately realizable current assets to its current financial commitments. St. Mary's had a bad quick ratio relative to the national average, highlighting the organization's constrained cash flow status. From 1990 to 1993, the quick ratio has, however, improved.

Efficiency

Efficiency ratios reveal a company's capacity to utilize its diverse resources effectively in order to increase earnings. Based on St. Mary's efficiency ratios, a historical analysis of the company's ratios, and a comparison with the national benchmark for 1993, it is reasonable to conclude that the company has employed its assets more efficiently to generate profits. The firm was able to collect its delinquent accounts at a far higher rate than its competitors in the market. This can be observed by comparing St. Mary's average collection period to the national norm.

Capital Structure

The debt to equity, long-term debt to equity, and long-term debt to capital assets ratios reveal the organization's financial leverage. Financial leverage is the degree to which a company relies on debt funding instead of equity. The more a company's debt, the greater the likelihood that it will be unable to fulfill its contractual obligations. A high level of debt might increase the likelihood of insolvency and financial difficulties. St. Mary's has a stronger track record in this category, and the organization has not grown its exposure to debt financing, which reflects the organization's ability to finance its operations using its own equity and cash flow. This is evident from the firm's debt to equity ratios and a comparison of those ratios to the national average.

In general, St. Mary's financial performance has improved during the period, thus the current management team can be retained. However, there is an immediate need to increase the gross margin by reducing administrative and other overhead costs, which would result in a greater return on equity.

Table 1: Comparison of St. Mary's with National Benchmark Financial Indicators

1990 1991 1992 1993

The Saint Mary's National St.

St. Mary's National

St. Mary's National

Mary's National Hospital

Profitability

Operating Margin -30.24% 2.0% -4.67% 1.52% -0.08% 2.07% 4.81% 2.25%

Gross Margin -24.65% 5.15% -2.25% 4.45% 2.0% 4.62% 7.0%

Return on equity -69.62 percent 7.29 percent -14.28 percent 6.36% -0.26% 6.82% 14.88% 7.03%

Liquidity

Current 1.61 2.00 1.54 2.15 1.56 2.05 1.68 2.18

Quick 1.01 1.63 1.31 1.81 1.34 1.72 1.56 1.71

Efficiency

Asset Turnover Total 1.44 N/A 1.8 N/A 2.04 N/A 1.99 1.01

Asset Turnover Rate 3.73 N/A 4.51 N/A 5.21 N/A 4.29 3.57

Investment Asset Turnover 2.35 N/A 3 N/A 3.35 N/A 3.71 2.2

Age of Plants on Average 16,03 n/a 17,09 n/a 19,63 n/a 17,15 8.5

Average Collection Period

Capital Structure

Debt Ratio 13.47% 45.8% 15.22% 45.7% 12.13% 44.7% 8.06% 44.5%

Long Term Debt To Equity Ratio 21,54 % 55,2 % 25,85 % 53,3 % 19,33 % 51,5 % 12,53 % 50,1 %

Debt to Capital Asset Ratio 21.95% 64.0% 25.33% 64.5% 19.94% 63.9% 15.04% 63.1%

Bibliography

Financial Management Policy, Edition XII, New Delhi: Prentice Hall India Private Limited, J. C. Horne (2004). Investopdeia (n.d.). Ratios de rentabilidad Web. Ross, S. A., Westerfield, R. W., & Jaffe, J. (2004). Corporate Finance, edition seven New Delhi: Tata McGraw Hill.

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Sag Harbor And The Whaling Industry Cheap Mba Definition Essay Help

Table of Contents
Introduction Historical analysis Algonquian peoples Sag Harbor The expansion of the U.S. whaling industry The decline of whaling Effects of the age of whaling Conclusion Bibliography

Introduction

The whaling industry was a vast international network of commercial relationships. In this regard, only the seventeenth and eighteenth centuries witnessed a demand for whale oil. Whale hunting was a key source of wealth and influence among major nations. It was studied in light of contemporary petroleum oil connections. Thus, the purpose of this article is to examine the origins of the whaling industry in the United States and globally. In New York, the early whalers are regarded to have merged with the first settlers. Thus, Sag Harbor became the location from which whaling enterprises originated. The outlook on the commencement of whale hunting and its decline is mixed with the distinct social and economic stages of connections in a country with a multiethnic background that is only becoming independent. Native Americans were also permitted to participate directly in this procedure. According to the chronicle, they were the first people on the American continent to successfully catch whales. The evolution of the industry encompassed every stage, from its inception to its downfall. When Enlightenment concepts influenced civilized society, the whaling business was the reason for dominance and priority in the world. It encompassed the entirety of all material values that may distinguish individuals from the rest.

Historical analysis

The Native American whalers of the 16th and 17th centuries were among the most skilled and professional whalemen. In addition, they were the first to provide this service within the present borders of the United States. First New Yorkers were keenly interested in this field of endeavor and attempted to imitate the concepts and methods of whaling employed by their continental predecessors:

The early colonists learnt the basics of whaling from them and, using improved techniques such as light cedar boats and iron harpoons, they became the first white offshore whalers in the United States. For a few of generations, though, they continued to regard their Algonquin neighbors as more skilled, employing them whenever feasible to throw harpoons and wield lances (Pritchard 324).

The sound of fishermen's voices

First colonists saw an extraordinary opportunity to improve their circumstances by utilizing a novel substance, whale oil. This cargo was the most prized, thus the sailors did their utmost to earn hefty pay. Beginning in the late eighteenth century, the American whaling industry began to expand. Due to the global whale markets, the rationale for this type of enterprise was articulated with a focus on business circles and sailors. Sag Harbor is renowned for its pioneering role in whaling along the Atlantic coast of the United States and, in particular, Long Island. It is crucial to note that the Dutch whaling effort at that time beyond the boundaries of the industry, as "between 1675 and 1721, the Dutch killed 32,907 whales" (Dolin 104). These enormous riches aid this nation in expanding its regions of influence.

Algonquian peoples

In early American history, Long Island was home to thirteen Native American tribes, of which only two were associated with whaling. Montauks were the island's most populous tribe. They were diligent and skilled at fishing and whaling, to be exact. In addition, their mastery was borrowed by English, Dutch, and other colonists settling in the New York area. The issue of cooperation arose when the colonists attempted to increase their overall whaling skills and outcomes. Numerous contracts for fishing and whaling were negotiated between the Native population and Europeans (Dolin 75). As a result of the rivalry between British and Dutch settlers for market domination in the whaling industry, the majority of these texts had an uneven tone.

Indigenous Boats

Long Island Algonquians differed from their white neighbors in their customs and rites, as well as their ability to study nature to provide for their needs. "The people probably saw no reason to abandon their hunting and gathering practices because the abundance of wild plants, fish, shellfish, and game near their villages provided a balanced, predictable food supply" (Strong 6). Due to this significant reason, the abilities of the Montauk people were implicit in their Kachinas beliefs and philosophy. Strange as it may seem, they also viewed whaling as a means of approaching the spiritual world's higher plane. They whaled using canoes with swift navigation.

Indigenous Boats

Two canoes were utilized in the successful whaling operation. Hunters on one vessel attempted to capture a whale by throwing a lance into its body multiple times from the side of the other vessel.

Sag Harbor

Sag Harbor in New England is regarded as the initial location where the whaling industry emerged on the North American continent. Located in New England, the harbor's lines and proximity to Gardiner's Bay are magnificent and practical (Barber 333). This area was part of Suffolk County, which contained nine towns, the most notable of which are Brookhaven, East Hampton, and Southampton (Barber 333).

In addition, the port's convenience allowed fishermen to catch more fish annually. In this regard, Harbor was peaceful and well-protected. Here, there were no obstacles to the effective trade of whales and whale-related products. In the early half of the nineteenth century, Sag Harbor became known as the hub of American whaling and fishing commerce. In addition, Sag Harbor's sixty-ship fleet was second only to that of New Bedford, Massachusetts (Pritchard 324). This harbor was extensively used by the indigenous population for fishing and whaling for a long time. In regards to whaling, Montauk residents were very concerned in their ties with their white neighbors. "In the streets of Sag Harbor, Long Island Indians flush with cash could be seen lavishly spending and giving away their wealth" (Pritchard 324).

The expansion of the U.S. whaling industry

At the onset of the nineteenth century, the quantity of whaling increased from year to year. In this regard, the American industrial sector assumed the continuation of the struggle against sperm whales. This characteristic encouraged sailors to travel further from the coast in search of these creatures. Moreover, the growth of the industry was contingent upon millions of dollars being spent (French and Place 632). During the first four decades of whaling in the United States, an increase in vessels and whalers contributed to the industry's success. Between 1830 and 1860, the North Atlantic fishery was at its peak, and whalers' total capture exceeded all expectations. The need for money was greater than the desire for the protection of nature's flora and fauna. Sperm whales were close to extinction as a result of such unreasonable whaling practices.

The sperm fishery was reverting to the American monopoly it had been prior to the American Revolution, which was fortunate given the precipitous drop in catches. The 2,694,000 gallons imported between 1851 and 1855 were 601,000 less than the preceding five-year period (Mawer 258).

Whale oil began driving the United States economy and was a unique and unprecedented factor in the relationship's improvement. Here, it is important to note that the zenith of the American whaling industry occurred in 1846, when the whaling fleet had 736 ships and more than 70,000 persons directly engaged in sailing (Dolin 136). Throughout this regard, the large parameters of the grabs were distributed not only in the American portion of the globe, but also in Europe and elsewhere. However, in colonies, trade and commerce were heavily influenced by the importance of whale oil. As a result, the United States enjoyed more economic potential in the form of stability and consistent growth.

decrease in whaling

The United States whaling industry had a distinct historical profile. People were competent and willing to develop additional tactics for a larger catch. This meant that whales and sperm whales in particular were experiencing diminishing natural resources. Before the seventh decade of the 19th century, there was a decline in the industry's requirement for large numbers of workers. There were numerous causes for this worldwide and in the United States in particular.

The sound of fishermen's voices

Middle of the nineteenth century saw the discovery of new business and economic growth regions as a result of the United States' expansion. In this instance, the American people were still motivated by quick profits. In other words, people living in a capitalist society were enticed by the promise of greater opportunities for an improved life devoid of poverty. Consequently, greater development of new territories and the discovery of relatively substantial for the industry resources in the interior of the earth propelled a second wave of Americans toward the chance of being wealthy immediately.

The decline of whaling after 1850 caused the decline of the industry. In 1860, sperm oil imports had decreased to 73 708 barrels, and in the years during and after the Civil War, this figure dropped to 50,000 barrels (Food and Agriculture Organization of the United Nations 324). The conflicts between the North and South of the United States, as well as the preconditions for the Civil War, were the primary factor that affected the internal dimension of social, economic, and political interactions. People were interested in products that were less significant in the realm of trade and commerce than this one. The importance of natural gas, petroleum, and vegetable oils increased on the international market. People also knew that new markets need positive development and increased evaluation efforts. In this instance, the primary economic factors were the gold rush of 1849 and the discovery of oil resources in Pennsylvania. Gold and oil were considerably more competitive than sperm whale oil. Another rationale was the transition of whales into other key products:

The whaling interests also contributed to the decline by refocusing their efforts on the right whale and bowhead fisheries, to which they were attracted by the opening of North Pacific and western Arctic grounds and the two valuable commodities — baleen and oil — that these whales provided (Food and Agriculture Organization of the United Nations 324).

Due to the disorientation of the American economy in its previous fields and a lack of state power awareness of the country's situation, the Civil War had significant effects on the collapse of whaling. In addition, the coal-mining and logging sectors afforded the Appalachian region of the United States a greater number of prospects for economic development. Prior to the age of rapid industrialization, there was a need for innovative energy products. In the latter half of the 19th century, the scientifically logical approach dominated. This is because a new age in human history mandated the production of energy and power from natural deposits of petroleum, gas, coal, and other inputs, which rendered whaling obsolete.

Effects of the age of whaling

In the age of whaling, humans were presented with new opportunities about the whales' destination in relation to their requirements. This desire of corporate circles of the time for only monetary comforts did not account for the harms made to nature from the very beginning. Today, the International Whaling Commission (IWC) regulates the commercial whaling industry (Estes 368). This organization regulates modern connections between countries located in close proximity to oceans from the perspective of protecting the natural environment and populations of various whale species. Nonetheless, governments (especially Iceland, Norway, and Japan) continue to support commercial whaling, posing a threat to these mammal species.

The sound of fishermen's voices

Conclusion

In the late eighteenth and early nineteenth centuries, the whaling business played a significant role in the growth of trade and commerce. The establishment of the United States and its proximity to indigenous populations provided chances for colonists to borrow Indian whaling techniques for commercial use with modifications. Sag Harbor was a highly convenient location for a vast fisheries. It was the wealthiest and most prosperous place in New England due to whaling. The time between the 1820s and the 1850s is considered to be the peak of the whaling industry in the United States. In dollar terms, 1854 was the most profitable year, with a total of $10,766,521 earned (Mawer 263). In the second half of the nineteenth century, the Civil War and the discovery of new sources of energy contributed to the demise of whaling. Gold, natural gas, and petroleum commanded more attention at that time. The significance of whaling diminished, and it evolved into the usage of bowhead fishery and trading baleen. The repercussions of the whaling era are detrimental to the current status of various whale species. Even though commercial whaling is still practiced on a global scale, the International Whaling Commission (IWC) has the ability to restrict countries' whaling efforts.

Bibliography

Historical collections of the state of New York: containing a general compilation of the most important facts, biographical sketches, various descriptions, etc. relating to the past and present: with geographical descriptions of the counties, principal cities, and principal villages. Clark, Austin & Co. published the author's work in New York in 1851.

Leviathan: The History of Whaling in America, by Eric J. Dolin 2007: W. W. Norton, New York

Whales, whaling, and ocean ecosystems. James A. Estes. University of California Press, Berkeley, California, 2006.

Indigenous Boats. More American Indian whale hunting. 2008. Hyperlink. Web.

Fishermen's Speak. Comprised of numerous papers and presentations. Hyperlink: Web.

Organization for Food and Agriculture of the United Nations and Working Group on Marine Mammals. Large cetaceans and general literature on marine mammals. Vol. 3 (5). Rome: Food & Agriculture Org., 1982.

English: John Homer French and Frank Place. Gazetteer of the State of New York: comprising an exhaustive view of the topography, geology, and general history of the state, as well as a thorough history and description of every county, city, town, village, and locale. With complete statistical tables. Ed. 7. 1860. New York: R.P. Smith.

Mawer, Granville Allen. Ahab's Trade: The saga of whaling in the South Seas. Sydney: Allen & Unwin, 2001.

Native New Yorkers: the legacy of the Algonquin people of New York, by Evan T. Pritchard. Washington, DC: Council Oak Books, 2002.

The Montaukett Indians of Eastern Long Island: The Iroquois and their contemporaries. New York: Syracuse University Press, 2006.

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Drapers Company And Trade Union’s Negotiations Cheap Mba Definition Essay Help

The objectives of management

The management of Drapers plans to implement the following modifications:

Lengthen the working week (45 hours). This new policy will contribute to an enterprise's higher production and provide additional income for its employees. Additional five hours of labor will generate £75 per week for households. Currently, the company cannot afford to pay overtime, therefore a 45-hour workweek will be beneficial for both the business and the employees. Single-status compensation and terms. Change is important to reduce employee turnover among part-time workers, who are now in a severely disadvantageous situation. Currently, these individuals do not qualify for sick leave or pension benefits. By instituting single status pay and conditions, management will encourage these employees to remain with the organization. Profit-based compensation plan Employee compensation will be closely tied to the financial performance of the organization over a specified time period. This approach will offer workers with an incentive to boost output levels. No paid closing weeks; flexible work schedules and generic job descriptions. The staff will be reassigned to a different department. This technique will allow the company to avoid the threat of a labor shortage. Secondly, this strategy will facilitate the development of a vast array of talents among workers. Holidays such as Christmas and Easter are worked. Currently, the business routinely suspends operations for holidays and other special occasions. Instead, the corporation will provide more holiday leave. The employee remuneration package will be established on a three-year cycle. This modification is intended to make compensation policies more clear. Moreover, it is intended to increase full-time staff retention rates. New sick pay program The first three days of sick leave will be unpaid, but employees will be compensated for the subsequent four weeks. Additionally, the corporation intends to institute a new cumulative paid sick leave. Each employee will receive one additional paid day after ten years of service.

The reforms are vital, not only for the continued existence of Drapers but also for the well-being of employees. Currently, the corporation is facing challenges such as an economic slowdown, growing operational expenses, and a decline in corporate profitability. They will allow the company to accomplish the following goals. At this point, it is vital to note that the corporation will no longer conduct separate negotiations with labor unions in the future.

The counterproposal of labor unions

It is highly expected that the union reps will make multiple counteroffers.

They are especially likely to oppose to a 45-hour workweek. They may advocate for a reduction to forty-three or forty-two hours. The question can only be brought up by the union representative. Additionally, the union will demand on slightly increased salary for the staff. The firm can make trade unions some concessions. However, one might assert that an increase in working hours will necessarily result in a wage increase for employees. Workers might object to generic job descriptions and flexible work conditions. This may also be viewed as an attempt to violate workers' rights. Therefore, the team of management negotiators should clarify that these models are utilized by a large number of automakers and that such a strategy can only improve worker performance rather than harm them. Lack of paid sick leave for temporary employees. This subject is non-negotiable, as the corporation plans to provide identical compensation and working conditions for all employees, regardless of their standing. Nonetheless, it should be noted that the corporation will hunt for new permanent hires among its temporary employees.

References

Shelley, S., and M. Calveley, 2007. Learning with labor unions: a modern objective in labor relations. Ashgate Publishing, New York

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Factors Affecting The Demand And The Supply For Products Cheap Mba Definition Essay Help

Aspects influencing the demand and supply of items

Demand and supply of the items and services are the two determinants of price. It often depends on the quantity of things consumers wish to purchase or the quality of products they can afford, as well as the number of products enterprises are willing to sell on the market. The demand for the products and services is affected by a number of factors. The product's price is the most significant factor. Demand is influenced more or less directly by the price of the product. When the price increases, the demand immediately drops because customers can only afford a smaller quantity at higher prices. Similarly, the income of consumers influences demand. The consumers' purchasing power will increase in proportion to their income. Typically, the demand for one product depends on the price of another. When customers purchase goods and services, they will compare the price of one product to that of a competitor's offering and then choose the less expensive option. Therefore, the demand for a product will increase when it is reasonably priced and priced lower than its competitors. The demand for the products will fluctuate in accordance with alterations in consumer taste, preference, and fashion. People's desire will fluctuate over time in accordance with fashion, and they favor things that are on trend. Consequently, demand will increase for the goods of their choosing. Advertising of the goods is an additional factor influencing demand. Customers will become aware of the product through advertising, and they will be able to learn about new and improved products on the market and their features. The information conveyed to the public through advertising will increase demand for the advertised goods. Consequently, there is always an inverse relationship between product price and demand. A chart depicts the relationship between the price and the amount demanded.

Figure 1 demonstrates the link between price and quantity.

The graph clearly demonstrates that when the price increases, demand will decrease.

Numerous variables influence the availability of goods and services. The first factor is the commodity's price. When a company provides more things at a higher price, there is a positive association between the two factors. This is due to the fact that selling more things at a greater price will boost income. Cost of production is another element that influences the commodity's supply. If the firm's production costs are decreasing, it will raise its supply since it can offer more products at the lower price. Other factors influencing the supply include the prices of other items. If the competitor's prices are high, there will be a greater demand for our items, which would boost our supply. If the firm uses modern technologies for the manufacture of the goods, then technical advancement can also contribute to the supply of the goods, and the supply can be raised accordingly. A chart can be used to demonstrate the positive relationship between price and amount given.

Figure 2 demonstrates the positive relationship between price and quantity.

This graphic demonstrates that there is a positive correlation between product demand and pricing. How the Market Mechanism Works in a Market Economy, p. The demand for certain items and the factors that influence that desire can be analyzed in depth.

Convenience Food

Convenience foods are described as those that transfer the time and effort of preparation from the consumer to the retailer. Examples of convenience foods include fast foods, frozen items, microwavable meals, and food delivered to the home. The key reason for the increase in demand for convenience foods is that they need minimal cooking time. The manufacturers of these items are attempting to shed their bad reputation by providing customers with a variety of healthy options, such as low-fat and low-sodium varieties. Consequently, this has boosted the demand for the same. People are becoming increasingly interested in the consumption of convenience foods, which is the most recent trend in the food consumption sector. Multiple variables affect the desire for convenience foods. Initially, the demand for such things is determined by the growing societal value of time. Due to this, clients are more concerned with time and want all products to be available within a short amount of time. In regards to food, people desire things that are simple to prepare and serve. This development occurred as a result of socioeconomic issues as well as changes in the culture and way of life of the people. Some demographic trends, such as the increasing number of single and married women in the labor market, have contributed to the rise in convenience food products. Large food supply networks' intense advertising and promotional efforts are an additional factor. This has resulted in an increase in the popularity of fast food among customers. The majority of families are supported by two earnings, and the number of single-adult households is also on the rise. The decline in household size and the rise in real income have both contributed to the shift in demand for convenience foods. Additionally, the demand for convenience foods will expand in the next years. According to a poll, dry pasta is the most popular convenience food. The demand for convenience foods would expand in the near future as a result of numerous aggressive and innovative policies adopted by various companies. (Nayga and Farooq).

Internet-purchased merchandise

The Internet is the most recent and best innovation in the realm of communication. Due to the invention of the Internet, the entire universe has shrunk to the size of a small village. In addition, it provides a vast amount of information about markets, government regulations and services, trade fairs, etc. In addition to being a source of entertainment, it offers services such as online banking, reservations, and online ticket purchasing, etc. The emergence of electronic commerce is the Internet's most significant benefit to its users. Through the internet, people are able to purchase items and exchange information around the globe. It encompasses a vast array of products that are available worldwide, and the service is made available to customers at their front doors. It includes everything from household necessities to technology to entertainment. The likelihood of a growth in Internet users is primarily influenced by two things. One is the availability of information offered by businesses, while the other is the requirement or demand for goods and services from users. Numerous variables influence the demand for internet-purchased products. First, it depends on the amount of people who use the Internet to purchase goods and services. The demand for items acquired through e-commerce is also affected by the characteristics of potential purchasers and the distinctiveness of the businesses that use the Internet. The most essential influence is people's attitudes regarding e-commerce, as demonstrated by their online purchasing habits. Currently, the number of people who access the internet is growing. Due to the fact that the majority of Internet users are young, well-educated, and professional, e-commerce will certainly experience significant development in the future years. Since the transition from the traditional Electronic Data Interchange system to the World Wide Web, both the number of internet service providers and the quality of their services have improved. As a result, internet-based commerce is increasing. Internet commerce is dominated by the sale and purchase of things such as CDs, films, cameras, books, and computer programs. The nature of the products traded via the Internet and the nature of the methods used to conduct the trade are the primary factors that facilitate the commerce. Internet users who access services through e-commerce are also influenced by the convenience, privacy, cost, and speed with which they may make purchases on the Internet. It is convenient because it expands individual alternatives and provides additional options for locating the lowest pricing. Diverse laws established on selling provide internet users with a safer and more pleasant atmosphere, hence increasing the need for online purchasing. (Managing Information Technology in New Millennium Organizations, p.246)

Film and photography

There has been a significant movement in camera technology from conventional models to digital cameras. There is a growing need for digital cameras today. So many mobile phone manufacturers have put cameras into mobile phones. Numerous Internet users have entered this sector by providing digital camera services. Digital camera sales have reached new heights. Due to the proliferation of digital cameras and printers, film processing has slowed down, resulting in declining sales. The film processing industry contributes little to the market and is nearly static. The demand for digital cameras depends on a multitude of variables. The most significant element is the younger generation's tendency to share images and videos over the internet and other channels. The newest trend on the market is personalized photos, and digital camera manufacturers are providing so many advanced features for consumers in order to entice people. However, it is anticipated that the use of digital cameras will soon cease. Due to the increasing number of online printing possibilities, industry competition has increased. It also provides printing services and additional items. Through this, images may also be uploaded online, and they also provide a variety of tailored items to entice customers. Consequently, the demand for cameras will be affected by variables such as competition from mobile users who incorporate digital cameras and printing capabilities. Online businesses limit the use of digital cameras since they offer so many options to their customers. However, this will never eliminate the need for professional cameras. Another element that contributes to the need for digital cameras is customers' preferences and preferences. The market for digital cameras is influenced by technological progress. The market for digital cameras has reached a stage of maturity; hence, the demand for them will fall in the future and eventually reach a degree of saturation. (Trends in camera technology compel retailers to retool their operations)

Videocassette (VHS) rentals from retail stores

In the early years, people's access to videos and films was solely dependent on retail establishments. Now, however, the circumstance has altered due to the increased competition from cable television and high-speed Internet access. The emergence of digital technologies is an additional factor influencing the demand for rented videos. All of these innovative technologies offer a variety of individualized options, including direct release and home viewing entertainment via direct broadcast satellite. Due to a decline in the number of videos rented through retail outlets, demand for rented videos is gradually declining. People can now obtain videos through online multimedia sources, and the existing video retail stores are compelled to lend the videos at much reduced rates. This condition will persist in the coming years, and as a result, the future trends of video rentals through retail outlets are slowing. Internet users have access to an infinite range of services. In order to access the internet, certain technological

Both knowledge and perseverance are required. The availability of free and plagiarized copies of the newest videos and films on the internet is a further issue hurting demand. Now, numerous businesses are releasing original videos at minimal cost. This has also impacted the market for video rentals. All of these factors have contributed to the drop in demand for rented videos, a trend that will continue into the foreseeable future. A second issue is an internal one, such as the contractual relationship between video retailers and their suppliers. Thus, changes in the video industry supply chain and intense competition in the home entertainment sector have contributed to a significant reorganization of the business. (Seim).

Programming for pay-per-view television services

Per page view is a method that allows television viewers to purchase and pay for activities that can be viewed on television. The same event is displayed to everyone who orders it. It is the exact opposite of video on demand services, which allow users to watch the event they requested at any time. In a per page view system, events are purchased via a programmed television system or a customer service representative. There is every possibility that pay-per-view broadcasting services will decline in the foreseeable future. Multiple variables influence its demand. First and foremost is the alteration of people's attitudes about it. The number of registered users who access the service has decreased as a result. A second aspect is rivalry from other service providers who offer low-cost digital and multichannel services of superior quality. The rivals provide triple play services that encompass telephone, broadband, and broadcasting. Due to the intense competition, per pay view satellite providers have been unable to compete and are now in the process of withdrawing. Consequently, the demand is gradually declining. (Factors That Will Influence the Demand and Supply of a Given Quantity of Goods)

Factors influencing the supply:

Crude Oil

By a wide margin, crude oil is the most important commodity utilized for energy generation in the world today. This will continue until effective alternative energy sources are implemented. But this does not appear to be the case because unconventional and renewable sources of energy have limitations in terms of cost, practicality and availability. Consequently, crude oil demand will continue to rise in the years to come.

The most important factor about crude oil about

Government Influence On Business In UK And US Cheap Mba Definition Essay Help

In the United Kingdom, the national government and, to a lesser extent, the European Union have played and continue to play a significant role in influencing economic operations. The government periodically modifies the legislation and frameworks, causing business organizations to change their operations. As a result, government policy has an impact on trade. Economic policy, a crucial area where the government gives to the state in the economy, is a key area of government policy that affects a firm. Between 1945 and 1979, the government became increasingly involved in the economy by establishing state-run industries, which typically took the form of public corporations (Times Correspondents, p. 3).

However, beginning in 1979, there was a privatization era in which industries were sold to private shareholders in order to establish a more competitive corporate climate. This can be accomplished by taxing and spending, rules, directives, and regulations, encouraging activities through subsidies and financial assistance, and offering business guidance. There are policies that the British government can impose on businesses, such as employment policy, which is meant to stimulate employment. This policy encourages business efficiency in order to make British enterprises competitive in international markets and to create jobs. The government is now training and funding people to sponsor job possibilities.

In regional policy, this is where the European Union comes in, with subsidies made available to help regions with low levels of employment and social deprivation, such as Scotland's Highlands and Islands and other nations. The British government uses inflation policy to ensure that there are no unexpected widespread price increases that would harm medium and small-scale firms. This is when the Bank of England's monetary policy committee, which sets interest rates, comes into play. This is done when there is a risk of people borrowing and spending too much, which generally raises commodity prices in the market. As a result, boosting interest rates makes it difficult for businesses to borrow money for business expansion, which has an influence on consumers, and when this happens, consumption falls, and prices are forced lower.

The government is also implementing education and training policies, which are seen as important in reviving business in the United Kingdom. By including vocational courses in the school curriculum, the government is driving reforms in the business environment. Businesses contribute to the community in general through the taxes they pay, and the government helps businesses grow by establishing the infrastructure in exchange for these payments. The money collected in taxes is spent on projects that create an enabling environment, such as airports and roads, to facilitate the movement of goods and services, as well as on helping neighboring countries stabilize economically so that they can have a common market for the goods and services produced (Coleene, p. 16).

In terms of international policy, the government promotes commerce and encourages sales of British goods and services overseas, but it can also discourage goods and services from other countries if they do not satisfy the appropriate criteria. It is also developing business norms, despite the fact that many laws in the country have been in place for a long time while others are still relatively new. These rules try to define how people should interact with one another, particularly how business should be done among the people. The government also uses subsidies to encourage more corporate entities so that enough money is available through taxes to meet the needs and desires of its people. It provides funds to distressed sectors to assist them in recovering from specific losses. The government can also approve tax cuts through subsidies to boost business growth in the United Kingdom.

The nation is the key factor regulating the conditions of small and medium-scale firms’ growth in the economy of market policy, with greater impact on the external environment in which trade activities can expand than through direct support measures. The issue here is that these enterprises are still small, and their contribution to economic development is insufficient. In such cases, the government establishes and supports the framework conditions for private sector development. In addition, in preparation for European Union approval, the government is putting legislation and regulations in accordance with European Union norms, pushing the financial system to adjust and acknowledge the small and medium firm sector. This makes the sector a potential market for a number of financial products, as well as encouraging the formation of venture capital funds for the small and medium-sized businesses that seek outside impartiality. The government is also encouraging small and medium-sized businesses to collaborate with the private sector to build an effective support infrastructure.

In the 18th century, the government also formed Chambers of Commerce to assist firms in adapting to the massive technological and social changes that were occurring in Britain. To underline the conviction that developing local business communities in Britain holds the key to future prosperity, the government recently introduced the Ultimate Business Network through the British Chambers of Commerce. The goal was to develop a statewide web networking system so that businesses in other regions of the country, such as Aberdeen, could operate from the chamber member in Norfolk. This allows all members of the local chamber of commerce unrestricted access to the tender system, creating an enabling climate for business development.

Too much political power is concentrated in the hands of commercial interests in the United States, as organized business interests devote huge money on political activities, implying that economic development in the United States is influenced by the government. The United States has suffered economic uncertainty in the past, which offers hurdles to credit markets, affecting Wall Street, Main Street, and small businesses nationwide. The government has created an SBA body to oversee the US Small Business Administration. It has started loan initiatives to help alleviate the credit crunch by giving credit to small firms around the country.

Because of the SBA-backed guarantee, loan programs offered by the SBA allow lenders to provide startup capital to small firms with less risk. SBA programs are an important source of finance for small businesses in current economy, and the SBA is now poised to meet rising demand. SBA also offers administrative psychotherapy and support through a statewide network of 1,500 partners. Furthermore, it maintains an influential network presence through current trade data and free online courses covering a wide range of business issues. The SBA also allows you to file disaster and business loan applications online from the comfort of your own home.

As a catastrophe victim in the United States, you can now apply for disaster loan aid at your leisure using the Electronic Loan Application. The strategy simplifies the application process and speeds up the supply of support to a person (Robert, p. 25).

The approach also allows anyone who has suffered damage to their house or business as a result of a declared catastrophe to apply for disaster financial assistance. Homeowners and renters are also entitled to such benefits if their homes, personal goods, or vehicles are damaged. Businesses can also file claims for property damage, business contents damage, and economic losses. Someone can apply by mail.

The United States government has formed alliances and agreements with other countries to provide an enabling environment and market for its corporate activities. It also employs Taylor-type interest rates, which take into account both time and state dependence. During an expansionary period, the Federal Reserve usually follows an inflationary rule that aims for a high degree of interest smoothing. This allows businesses to predict when inflation will arise and take the required steps to prevent it.

For both economic and non-economic reasons, the government has also implemented numerous policies such as economic policy, market policy, regional and international policies, tax policy, and inflation policy. Economic rationales are intended to reduce unemployment, protect new industries, increase industrialization, and improve good economic relationships with other countries in order to achieve a common market for business activities while also preventing external influences that threaten business prosperity. The non-economic rationales seek to preserve vital industries, zones of influence, and cultural and ethnic identities. Tariffs, dumping policies, countervailing charges, subsidies, quotas, voluntary export limitations, standards, and trade sanctions have all been used to control trade.

In terms of foreign policy, the United States government promotes commerce and encourages sales of American goods and services overseas, but it can also discourage goods and services from other countries if they do not satisfy the required criteria. These rules try to define how people should interact with one another, particularly how business should be done among the people. The government is also utilizing interventions such as the usage of subsidies in order to encourage more business entities and sustainability (Robert, 26). Governments have created Chambers of Commerce to assist businesses in adapting to massive technological, competitive, dynamic, and social changes. All of these actions aim to establish a statewide web networking system so that businesses in other parts of the country, such as Aberdeen, can operate from a chamber member in Norfolk. This allows all members of the local chamber of commerce unrestricted access to the tender system, creating an enabling climate for business development (Witko, Christopher & Newmark, p. 3).

References

Making Business Studies Come to Life 1995-2008, Times Correspondents Limited and MBA Publishing Limited. Anger, Coleene Financial Development, Industry Streamlining, and National Progress: The Government's Responsibility, 1967. Smith, Robert H. Diversified Business Company Expands Trade-Government Plan University of Maryland, College Park, USA, 2000. Christopher Witko and Adam Newmark Business Mobilization and Public Policy in the United States of America, McGraw Hill Publishers, 2008.

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Walmart Great Value Line Analysis Cheap Mba Definition Essay Help

Table of Contents
Introduction Situational Analysis Aims Plan Tactics Measures Control Conclusion Citations

Introduction

Great Value is one of the most established retail brands at Walmart. It was established in 1993 and offers hundreds of groceries and non-food items, including sliced bread, frozen veggies, light bulbs, garbage bags, and other household necessities (Neebe, 2020). It is stated that its products are nearly as good as those of some of the large brands now on exhibit, with a price advantage due to the absence of advertising and marketing expenses (Neebe, 2020). A new plan must be designed to improve the company's performance in light of the brand's unappealing package design, lack of availability outside of the chain, and reputation-damaging high employee turnover. The SOSTAG (Situation, Objectives, Strategy, Tactics, Actions, Control) framework provides a structured method for assessing the brand's present market position and developing a marketing strategy to handle the existing difficulties.

Situation Evaluation

Great Value is the best-selling retail brand at Walmart, featuring a vast selection of groceries and household goods sold abroad in the company's locations. The commodities are not created by Walmart but by firms that, in addition to producing their own products, also supply big retail chains. The company is dedicated to "providing customers with quality products at unbeatable prices" and asserts that its supermarket and household consumable alternatives are comparable in quality to those of major national brands (Walmart, n. d.). Great Value items are typically marketed to low- to middle-income consumers, as they are sold at cheaper prices than name-brand products.

The 4Ps marketing mix summarizes the company's marketing possibilities in terms of product, price, location, and promotion.

The Great Value collection includes more than 850 goods spanning practically every supermarket and household category (Fortune 500). The product selection is remarkable, and the brand is widely available. One of the primary selling aspects of the Great Value brand is that its items are sold at inexpensive prices. Great Value products are available in every Walmart store in the world. The disadvantage is that the products cannot be purchased outside of the chain. Walmart utilizes a range of marketing strategies to promote its store brand. The primary tools consist of physical and internet advertising, giveaways, and price reduction techniques.

The strengths, weaknesses, opportunities, and threats identified by the SWOT analysis of the company's internal and external strategic environment are as follows (David, Creek, & David, 2019):

Brand strengths (S) include high levels of brand awareness, presence, and expansion, low costs, access to global supply and logistics networks, an efficient HR and resource management system, and a dominant position vis-à-vis competitors. Weaknesses of the brand include copying of other brands, unattractive package design, average product quality, and a lack of visibility outside of the Walmart store network. The primary opportunities (O) for future growth include design enhancements, the adoption of better quality standards, and brand expansion. The corporation faces the COVID-19 epidemic, competition from other companies, and controversies about quality, imitations, and supplier treatment as current risks (T).

Objectives

On the basis of the SWOT analysis, the following SMART targets can be defined for the Great Value product line:

By the conclusion of this year, create and deploy a fresh, identifiable, and appealing package design. By the end of this year, bringing the quality of the products that attract the most customer complaints in line with the average quality of the company's products. Renegotiating the terms with suppliers to enhance the company's media and customer image. By the end of the year, reputation replies should have increased by at least 10 percent. In light of COVID-19 and the widespread destitution of the populace, cut product prices by 5 percent while maintaining the current profit margins.

Strategy

The brand's present marketing mix is reasonably effective for preserving current market positions and even creating modest growth as a result of socioeconomic shifts that cause consumers to purchase less expensive products. However, claimed growth might be boosted by focusing on brand image, consumer perception, product quality, and pricing (Steenkamp, 2017). The brand's image and impression can be enhanced by addressing the packaging's visual appeal and negative repute. Walmart's ties with its suppliers and the company's control over the production process influence the quality of its brands (Steenkamp, 2017). Current pricing are defined by the existing logistics and supply chain, employee labor and retention expenses, and supply and demand pressures. For the corporation to lower prices, it must either reduce expenses or increase economies of scale.

The following strategies for attaining the given objectives can be recommended based on the SWOT analysis. The S–O plan of action includes repackaging to increase brand identification. The fundamental objective of the W–O strategy is to improve product quality while maintaining the pricing. The S–T strategy should employ the company's robust HR policies to eliminate supplier treatment disputes (Neebe, 2020). To boost Walmart's competitive position, the W–T strategy should aim to give its generic brand a recognizable image and features that are difficult to reproduce.

Tactics

Walmart's current tactical strategy emphasizes processes rather than service and people. While the quality of the majority of Great Value's products is mainly rated adequate, the quality of service and staff satisfaction are low (LeCavalier, 2016). It is due to the company's bad employee relations policy, which results in high turnover rates and reputational damage. It is possible to address these concerns on a tactical level while still achieving the larger strategic objectives.

With the strategy specifying which market segments should be targeted, tactics concentrate on the various instruments that could be employed to achieve the intended goals.

Redesigning packaging should maintain the current aesthetic and brand familiarity while making the products more appealing to present and new customers (Roberts & Berg, 2012). To make the package appear more appealing to the intended audience, the color scheme might be altered. Disputes about suppliers and employees should be resolved by enhancing their working conditions and treatment (Neebe, 2020). It is anticipated that the reduced turnover rates and training expenditures will cover any costs associated with this endeavor. By assigning Walmart quality managers to oversee the production processes in partnership with suppliers, quality issues can be resolved. Prices should be determined with a focus on increasing sales, which would be further spurred by enhanced packaging, quality, and brand recognition. Important KPI control indicators should include sales volumes, reputation surveys, quality surveys, and expenditures per unit manufactured (Neebe, 2020).

Actions

Walmart will need to make significant adjustments to its management strategy and staff training in order to enhance its reputation as an employer. McMann (2019) says that "if Walmart were to change its corporate strategy from cost leadership to help generate less negative criticism and high turnover rates, the company's foundation would be drastically altered" (p. 4). However, by reducing employee turnover and enhancing employee-customer interactions, the business can enhance revenues by spending less on training programs and maintaining a greater number of consumers.

Walmart concentrates primarily on sales quantities at this moment; but, by examining human resource management in detail, it can change its operational expenses by investing in more effective management. However, the corporation has acknowledged long-standing flaws that negatively affect its social reputation and has demonstrated a willingness to alter its attitude toward low-level employees (Neebe, 2020). While adjustments are being made to employee working circumstances, the corporation must still handle employee-manager relationships by introducing new policies concerning the professional attitudes and leadership abilities of managers.

As with any firm, individuals may develop product value almost as effectively as an optimized supply chain. Neebe (2020), for instance, states that “b By 2025, Walmart U.S. will have provided millions of employees with career-enhancing skills through targeted training programs such as Walmart Academy (p. 68). The company has already implemented a number of programs aimed at positively influencing the mindset of its employees, and these benefits will be passed on to consumers as employees become more willing to assist them.

The corporation has acknowledged that its supplier standards are excessively stringent. Walmart, according to Neebe (2020), "opened over 600 cases involving allegations of supply chain misconduct" (p. 68). Walmart can benefit from an increase in the number of companies ready to stock its shelves if it modifies its current policies to make them more accommodating. In addition, the company's evolving requirements include the need for sustainable packaging, which can be viewed as more desired by consumers.

Walmart should be able to produce more value overall from an increase in the number of suppliers and a decrease in supplier turnover rates. Today, respecting employees is as crucial as respecting consumers. By changing the staff's attitude to one that is more cheerful and cordial, Walmart can enhance its standing with customers by enhancing its working circumstances. If Walmart repairs its connections with its suppliers and improves its relationships with its employees and customers, it can attract additional business partners ready to stock its shelves.

Control

A variety of suitable control tools should be employed to monitor and assess the company's performance. They consist of the 5 S's (sell, serve, sizzle, speak, save), key performance indicators, testing for visibility, mystery shopping, and customer satisfaction surveys. Some tools and measurements are appropriate regardless of the present objective, whereas others are dependent on the type of campaign the organization is doing (Chaffey, 2019). A frequent analysis provides significant insight into whether the organization achieves its existing objectives, how and why it has failed, and what could be altered in terms of strategy and tactics.

Gross profit, sales and cost of goods sold, market share, and customer happiness are considered as key performance metrics for a house brand. The percentage of house brand sales relative to sales of name-brand products within the same category is one of the most crucial performance metrics that should be tracked. The 5 S's tool checks the brand's compliance with a marketing campaign's five essential objectives: Sell, Serve, Speak, Save, and Sizzle (Chaffey, 2019). Sell refers to the company's primary objective of maximizing profit from sales. Serve means that a brand should be aware of its clients' wants and needs and serve them accordingly. Speak implies that communication plays a significant role in any marketing campaign, and that each plan must answer the needs of customers in a clear and straightforward manner. Save encourages the organization to save money, time, and resources. Sizzle involves generating, expanding, and establishing the brand's market presence. Visibility testing is used in packaging design to guarantee that a brand's items are visible on shelves and attract customers' interest. High visibility enhances brand familiarity and contributes to increased sales performance. Each time packaging is created or modified, testing must be undertaken. Regular customer satisfaction surveys should be conducted to obtain feedback and determine the level of consumer satisfaction with each product and the brand overall. Customer surveys provide significant data into the purchasing experience if constructed properly.

Conclusion

The present market position of Walmart's Great Value brand is strong due to its low prices and large store presence. The brand's flaws include concerns with quality, packaging, suppliers, and employees, which must be addressed at the strategic and operational levels. The planned marketing strategy comprises measures aiming at new packaging design, boosting the quality of items, renegotiating service terms with suppliers, and enhancing the company's employee relations policy. Implementation of suitable control techniques is essential for assessing the company's progress toward reaching the proposed goals.

References

Chaffey, D. (2019). Pearson published a book on digital marketing in London, United Kingdom.

F. R. David, S. A. Creek, and F. R. David (2019). What is the secret to a successful SWOT analysis that includes AQCD factors? The SAM Advanced Management Journal, 84(1), pages 25 to 39.

Fortune 500. (2020). Walmart. Web.

LeCavalier, J. (2016). The law of logistics: Walmart's fulfillment architecture University of Minnesota Press, Minneapolis, Minnesota

McMann, S. (2019). Rate of turnover: Walmart (Honors capstone, Sacred Heart University, Fairfield, CT). Web.

Neebe, K. (2020). Sustainability at Walmart: Long-term prosperity. Web.

Roberts, B., & Berg, N. (2012). Key insights and applicable lessons from the world's largest store. Kogan Page Publishers of New York, New York

Steenkamp, J. B. (2017). Decisions about the global marketing mix: global integration, not uniformity In Global Brand Management (pp. 75–109). London, UK: Palgrave Macmillan.

Walmart. (n. d.). Walmart’s revamped Great Value brand delivers affordable, quality choices when consumers need them most. Web.

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Inventory Management Strategies And Merchandising Cheap Mba Definition Essay Help

Table of Contents
Two Perspectives on Merchandise Planning Dangers of Overstocking Dangers of Understocking Conclusion Bibliography

The objective of retail management is to increase sales and guarantee customer pleasure. As a crucial element of a retailer's performance, it involves a variety of responsibilities and demands qualitative and effective management. Procedures such as keeping and monitoring inventory, counting things, and predicting demand can increase a business's sales capacity. According to Berman et al. (2018), one of the key responsibilities of the merchandise manager is to establish and implement the optimal inventory plan. Others believe that insufficient stock can hinder them from making a sale, whilst some merchants view excess inventory as problematic because it can lead to steep markdowns. The purpose of this article is to investigate the hazards associated with retailers having too much and too little inventory.

Two Perspectives on Product Planning

A case study on merchandise planning gives two contradictory perspectives based on distinct arguments. To determine the efficiency of each plan, it is essential to evaluate the considerations a retailer must keep in mind when designing a functioning business strategy. Innovativeness, forecasts, allocation, timing, assortment, and branding are among the factors to consider (Berman et al., 2018). In this sense, shops that do not carry extra inventory rely heavily on projections and creativity, as they must anticipate client demand and maintain stock freshness to attract customers. Those who wish to avoid empty shelves must rely heavily on brands and timeliness to ensure client engagement and high sales rates in order to avoid negative seasonality impacts. According to Wako (2018), the scope of inventory management is so extensive that it includes responsibilities such as defective goods returns, future price forecasting, and asset management in addition to merchandise control and replenishment. Without a doubt, every merchant must take into account all criteria, although different strategies prioritize different aspects.

Regarding the argument over the quantity of merchandise, I feel that a corporation cannot fulfill its objectives without a well-balanced planning approach. Nonetheless, if I had to choose one, it would be "buy less, produce more." The appropriate inventory amount is determined by the company's sales capacity and environmental responsiveness. Both Stu and Karen from the case propose considering the customer's demands in this situation. While Karen cautions against reducing inventory levels and encourages always having exciting products available, Stu proposes the notion of fewer, higher-quality items. The strategy of "buying less" appeals to me more because it aligns with the current volatile market environment. In the era of sustainable development and conscientious consumerism, it appears prudent not to plan too far in ahead to prevent overstocking with obsolete, unpopular, or seasonal items that will not sell. Even if some sales will be lost as a result of having less inventory, this strategy is less damaging than having unsold items that have already incurred costs.

Risks of Overstocking

Numerous experts warn shops against overstocking and the associated consequences, among which are big markdowns. Companies with an excessive inventory are unlikely to sell all out-of-date fashions. In other words, a portion of their inventory loses liquidity. Other than decreasing the price, there is no other means to compensate for sales failures. However, reducing prices does not guarantee sales and still poses a risk to the product and distribution costs of the organization. According to the "you can't be a merchant without merchandise" tenet, a store should purchase enough things to attract and impress clients. However, poor planning and forecasting can result in inventory obsolescence, which is particularly undesirable for technology-focused companies (Berman et al., 2018). For instance, maintaining obsolete products is difficult and often impossible, and excess inventory of such items may result in losses for a business. Another disadvantage of overstocking is that it consumes too much space in warehouses, storage rooms, and inventory checks. Many businesses are aware of the risks associated with excess inventory and take steps to avoid them.

Similarly, some businesses adhere to the notion of maintaining adequate inventory levels. Amazon is an example because it strives to provide superior customer service, and its rules reflect this idea. As an online department store, the company maintains adequate inventory in order to maintain production and supply chain flow (Wang, 2020). Amazon nevertheless carefully plans its inventory levels and hunts for ways to prevent or reduce overstocking (Berman et al., 2018). A successful merchandise management procedure is essential to the success of the business.

Risks of Undersupply

A retailer faces substantial risks when they have insufficient inventory. Losing a sale is one of the most obvious negative effects of insufficient inventory and the worst in a retail setting. It is always simpler to maintain an existing customer than to acquire a new one, and understocking is a factor that is likely to lead to buyer discontent. A retailer’s reputation is harmed by a recurring inability to meet client requirements (Wang, 2020). In addition, a shop with insufficient inventory may miss out on advantageous rates and discounts on supplies or completed goods whose prices tend to rise over time. Shipping costs can be lower for occasional large orders than for frequent small sales, which is a risk associated with inventory. In this aspect, the "buy less, make more" method advocates making fewer valuable products available to customers. The strategy tries to attract customers with a steady stream of limited-quantity items. However, not all customers will tolerate the absence of products, thus it is in the best interest of the store to design an efficient plan and maintain an inventory that is neither excessive nor insufficient.

Apple is a corporation that shares the principle of avoiding overstocking. As a manufacturer brand, it anticipates demand for its inventions and products and adjusts its wares to the most recent technological trends. Apple relies heavily on its well-developed supply chain management (Lockamy III, 2017). The corporation obtains components and raw materials from several vendors, and then ships finished goods to customers. Amazon's strategy attempts to cut shipping costs and reduce the chance of losing out on advantageous prices or discounts.

Conclusion

This study concludes with a discussion of two contradictory inventory strategies and the accompanying dangers of having excess or insufficient inventory for merchants. To deliver enticing offers, a business need intelligent inventory planning, which comprises having the proper quantity of product available at the right time. Maintaining the correct inventory level is a continuous process that requires regular oversight. A retailer's primary responsibility is to balance the risks, consider the environment, and select a plan that aligns with the company's objectives.

References

Berman, B., Evans, J. R., & Chatterjee, P. (2018). Management of retail: a strategic approach. (13th ed.). Pearson.

Lockamy III, A. (2017). An analysis of external risk variables in the supply chain of Apple Inc. 18(3), 177–188, Supply Chain Forum: An International Journal.

Wako, E. (2018). The evaluation of inventory management procedures at the Hawasa Textile Factory in Ethiopia. 7(1), 1-8, Journal of Supply Chain Management System.

Wang, B., Wang, H., Yin, D., & Yu, X. (2020). Empirical evidence between unionization to inventory management inside a business. Business Review, 40(2), 53–74.

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Little Dessert Shop Case Study Analysis Cheap Mba Definition Essay Help

Introduction

The present research reviews a case study of Mary Jones and Sue Jackson's firm, Little Dessert Shop. The shop is located in Birmingham's Bullring Centre, which generates sufficient weekend business. However, the business partners are contemplating investing in marketing to attract additional weekday customers. In addition, Mary and Sue contemplate diversifying their product line in order to appeal to a broader spectrum of customers. Specifically, they believe that purchasing organic foods from local farmers could attract clients who are concerned about healthy living. However, using healthier components would increase the price of the products, which would be contrary to the shop's current ideals. First, the present paper analyses partnership as a type of organization using Mary and Sue's business as an example. Second, the report employs Porter's Five Forces paradigm to present recommendations for obtaining competitive advantage. The report concludes by discussing three macroenvironmental factors that can aid in enhancing current performance. Despite the COVID-19 outbreak, the research indicates that Little Dessert Shop has growth potential.

The Partnership as an Organizational Form

Partnerships are prevalent because they are simple to establish and administer. Partnerships are enterprises that two or more people establish and manage jointly (Tanski-Phillips, 2020). There are four distinct forms of partnerships, distinguished by the degree of participation in decision-making and operations. General partnerships assume that each partner shares equally in the company's responsibilities and earnings (Lupulescu, 2017). General (directly involved in the decision-making process) and limited (acting as investors) partners help to split the obligations and liabilities in limited partnerships (Tanski-Phillips, 2020). In limited liability partnerships, the business owners are not individually liable for the organization's debts or the activities of their partners (Tanski-Phillips, 2020). Lastly, LLC partnerships are multiple-member limited liability businesses in which the personal assets of partners are protected although members can be held liable for each other's acts (Tanski-Phillips, 2020). All types of partnerships are taxed differently, which affects their profitability and management concerns.

Little Dessert Shop looks to be an example of a general partnership, as Sue and Mary appear to have comparable rights and obligations. They contributed the same amount of capital to the company, making them eligible for the same proportion of the earnings. According to Lupulescu (2017), general partnerships are uncommon due to their association with a variety of problems. The major flaw of this corporate structure is unrestricted joint accountability for the company's debts and the conduct of one another (Lupulescu, 2017). In the chosen business structure, both Mary and Sue are liable for the company's debts, posing a major danger to their personal assets. In addition, partners are responsible for each other's behavior, which requires couples to have mutual trust. According to (Lupulescu, 2017), general relationships are typically formed by close, long-term friends or family members.

Despite all of the drawbacks associated with the business structure, it is the ideal sort of organization for Little Dessert Shop. There are various advantages to forming a general partnership as opposed to a limited partnership. First, this sort of organization is easy to start, as it does not involve much documentation (Lupulescu, 2017). (Lupulescu, 2017). Nonetheless, it is advised that partners have a partnership agreement outlining their responsibilities and the closing or sale of the business in the event that the partnership splits (Tanski-Phillips, 2020). Second, the organization is simple to run because the regulations are straightforward and inexpensive (Lupulescu, 2017). Finally, taxation is easy and inexpensive, which allows the corporation to optimize earnings by decreasing costs (Tanski-Phillips, 2020). (Tanski-Phillips, 2020). Lupulescu (2017) notes that “this legal form of company is appropriate and can be used in the case of small-scale activities, which do not require important funds for their exercise” (p. 15). (p. 15). Since Little Dessert Shop is a small-scale operation with a restricted number of stakeholders, the business structure is ideal. However, Sue and Mary are urged to draft a partnership agreement if they do not have one now.

Porter's Five Forces Analysis

Even for tiny organizations, the formation of a long-term plan relies heavily on external influences. One of the most influential external forces on strategic decision-making is competition. The competition is produced by five forces, according to Porter's model: the threat of new entrants, the threat of substitution, the bargaining power of consumers, the bargaining power of suppliers, and the intensity of competition (Varelas and Georgopoulos, 2017). The understanding of these five forces can assist in developing a long-term plan to become a successful industry competitor.

Competitive Competition (Strong Force)

Numerous dessert-selling businesses in Birmingham contribute to the industry's high level of rivalry. Kiss Me Cupcakes & Cakes, Krispy Kreme Doughnuts, and Cafephilia are among the 66 organizations that sell desserts as their primary product or as part of their menu, according to Trip Advisor (2021). Some of the rivals have multiple locations in and around Birmingham, which contributes to their longevity and popularity. Despite the fact that the COVID-19 epidemic caused some competitors to close their firms because of the three-month lockdown, many of the industry's larger players survived and began employing aggressive marketing strategies to acquire clients. Consequently, competition is a powerful factor in the dessert sector. Consequently, Mary and Sue must monitor their competitors in order to change their plan as necessary.

The Danger of New Competitors (Strong Force)

The dessert company is regarded as a simple industry to begin because it does not involve substantial capital commitments or specialized knowledge. The original investment of Sue and Mary was £60,000, which was sufficient to cover three years of the lease and working capital. However, even if a firm does not have enough savings to open a small store, it might obtain loans to meet its first costs. According to Cabinet Secretary for Finance (2020), the United Kingdom took a number of initiatives that lowered the cost of capital for small enterprises and gave tax advantages. Thus, the market is very straightforward to enter; nevertheless, the pandemic restricted the number of possible entrants due to demand's high volatility. In addition, the intensity of competition and the presence of larger competitors, such as Krispy Kreme Doughnuts, moderate the threat of new entrants to a certain extent. Consequently, the introduction of new competitors must be carefully monitored.

Threat of Replacement (Moderate Force)

Desserts sold in shopping centers are easily interchangeable with other items, like burgers, pizza, sandwiches, and coffee. However, none of these goods are exact replacements for the original, as each offers a unique benefit to the buyer. Other shopping center foods are not sweet. Similarly, Little Dessert Shop's items can be replaced with healthier treats, such as organic or vegan options. Additionally, many consumers choose food delivery to decrease the risk of COVID-19 infection. Therefore, it would be prudent for the company to diversify its product line and provide home delivery in order to mitigate the impact of the threat of substitution. However, such endeavors may involve investments with a high degree of risk.

Influence of Purchasers (Strong Force)

Due to a high number of competitors and a decline in the number of clients as a result of the pandemic, the influence of buyers in the business is incredibly potent. To attract customers, businesses in the industry may be willing to cut their profit margins or provide additional dessert options. Therefore, Mary and Sue must modify their plan to account for the demands and desires of their customers. This may involve conducting small-scale market research to determine what their customers value most: expanded product selection, commitment to environmental sustainability, or use of healthy components. The shop's proprietors can then employ the most effective strategies to attract more clients.

Influence of Suppliers (Weak Force)

Currently, the providers' influence is modest due to their widespread availability. Mary and Sue's major source is the local Cash & Carry; however, multiple companies might provide Little Dessert Shop with basic supplies. However, the force's influence might expand dramatically if the owners elect to purchase organic items from local vendors, whose availability is reduced. Therefore, this information must be taken into account while evaluating future tactics.

Macro-Environmental Factors

There are a variety of macroenvironmental elements that influence all industries. These variables are classified as political, economic, social, technological, legal, and environmental (Samnani, 2014). The PESTLE analysis determines these six sorts of variables. However, instead of giving a comprehensive PESTLE study for Little Dessert Shop, this paper will outline three macroenvironmental elements that can have a beneficial impact on the business.

Healthy Diet Trends (Social Factor)

Increasing health concerns among the general population is one of the most influential macroenvironmental phenomena. According to Spenser (2020), consumer health will be one of their primary concerns until 2030. According to experts, personal desire for healthy lifestyles will inspire individuals to consume healthier foods (Spenser, 2020). Particularly, it is anticipated that individuals will prefer healthful nutrition from fruits and vegetables (Spenser, 2020). This macroenvironmental aspect can be utilized by Mary and Sue to broaden their product line and satisfy a greater variety of client needs. It is anticipated that investments in the manufacturing of healthy foods will enhance sales due to the increasing number of consumers and improve the shop's reputation. Additionally, the shop's financial stability will improve if client preferences shift. However, it is essential to recognize that the aforementioned element will only have a beneficial impact if Sue and Mary decide to invest in a new product line. Increasing health concerns will have a negative long-term impact on the current business approach (cheap prices and delicious food).

Sustainable Development (Environmental, Social, and Legal Factor)

Sustainable development is a multifaceted issue that can be seen simultaneously as an environmental, social, and legal factor. Currently, the global society is becoming increasingly cognizant of environmental issues as well as social and economic challenges. In 1987, the United Nations (UN) defined sustainable development as addressing the requirements of the current generation without compromising the ability of future generations to do the same (UN, 2015). To achieve sustainable development, the United Nations (2015) established seventeen comprehensive goals with 163 targets to fulfill by 2030 in order to address the issues of poverty, inequality, climate change, environmental degradation, peace, and justice. One of the primary objectives of the United Nations' agenda is to implement sustainable waste management. Thus, Little Dessert Shop can boost their public relations by using paper bags and eco-friendly packaging. Furthermore, a commitment to healthy eating and environmental sustainability can be utilized for effective marketing. Even though these modifications diminish the profit margin, they will attract more customers, resulting in higher net profits.

Food Delivery (Social Factor)

Sue and Mary were out of business for three months following the COVID-19 outbreak at Little Dessert Shop. Moreover, after the lockdown, the number of clients declined, resulting in decreased income. The epidemic, however, spawned meal delivery as an alternative to dining out. According to EHL Insights (2020), the demand for meal delivery grew as consumers experimented with different sorts of food at home. Thus, the factor can assist Sue and Mary in expanding their firm in the future if they form partnerships with food delivery providers.

Conclusion

Even though the pandemic had a substantial negative impact on Little Dessert Shop, the business has the ability to grow. The corporation can broaden its product line by including healthier options. In addition, Mary and Sue may arrange for food delivery and implement sustainable packaging and waste management practices. These elements can be incorporated into a marketing strategy to attract additional customers. However, there are a number of factors to consider when choosing a development strategy. First, a general partnership is only suitable for smaller businesses, therefore Sue and Mary may opt for a different business structure if their company grows. In addition, the owners of the should monitor their competitors and evaluate the demands of their customers in order to mitigate potential threats.

References

Secretary of State for Finances (2020) Coronavirus (COVID-19); UK fiscal trajectory: update until November 2020. Web.

EHL Reflections (2020) COVID-19 and the food and beverage business: Delivery services to the rescue. Web.

Lupulescu, A. M. (2017) 'Some considerations on the general partnership', Tribuna Juridică, 7(14), pp. 6-16.

Samnani, A. (2014). "Macro-environmental factors impacting the fast food industry." Food Science and quality management, 31(1), 37-40.

Spenser, N. (2020). Healthy lives, healthy diets, and a healthy world motivate dietary trends for 2030, according to Mintel.

Tanski-Phillips, M. (2020) Do you know the many sorts of business partnerships? Web.

Trip Advisor's list of Birmingham restaurants for the year 2021. Web.

Varelas, S. and Georgopoulos, N. (2017) ‘Porter’s competitive forces in the modern globalized hospitality sector–the case of a Greek tourism destination’, Journal of Tourism Research, 18, pp. 121-131.

Organization des Nations Unies (2015). Agenda 2030 for global transformation and sustainable development. New York, NY: United Nations.

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