Virtual Organizations Characteristics And Management College Essay Help Los Angeles

Introduction

According to Techtarget (2010), virtual organizations are those whose members work from different locations toward a common purpose without a physical location. They network through the use of information technology, such as groupware and email, and this facilitates a working relationship that is comparable to that of conventional organizations in terms of harmony and organization. Remotely operating virtual teams assist their regular activities.

Indicators of virtual organizations

According to Ahuja et al. (1998), an important element of a virtual organization is informal communication. This is because members do not interact with one another individually. They communicate through electronic means like as email, cellphones, and other groupware. These organizations lack formal regulations, necessitating the use of significant informal communication that makes their interactions more personal and participatory. They do not adhere to the planned meetings and reporting typical of conventional organizations.

Sharing of resources and skills is another characteristic of virtual groups. The members provide their core competencies and complement one another as they collaborate and assert their knowledge in the sector to ensure their survival in a market with fluctuating demands that requires them to contribute their experience. The preservation of the core business ensures excellent results. Virtual firms have contacts with industry titans, which makes them extremely resourceful and dependable. Amazon.com, which specializes in the sale of various things, is one such example.

In the case of books, they do not necessary have a shelf, but they sell enormous quantities since they are associated with big publishers. This pooling of competencies and resources is appropriate for businesses today, and so virtual organizations are synonymous with adaptability. The corporate environment is always evolving, necessitating fast action. Virtual businesses provide this adaptability to ensure that demand is satisfied, and they do so by relying on various specialists to combat the requirement for mass customization (Jagers et al. 1998).

According to Thomas (2010), cost sharing is another characteristic of virtual firms; as all members are equal partners striving to provide the finest services or products on the global market, costs are generally divided among them. Virtual firms are also characterized by their permeable boundaries, and their principal objective is to fulfill market-specific demands.

They also take advantage of market chances, and Permeability happens when partners feel compelled to move on to other, more profitable opportunities after exploiting a certain opportunity. Virtual firms are technologically upgraded due to the fact that their employees operate in different geographical zones, hence limiting the number of face-to-face meetings. Information technology therefore takes center stage in an effort to connect them.

For productive commercial transactions, they utilize technologies such as videoconferencing, intranet systems, and groupware (Thomas, 2010), which ensure that information reaches all parties. Interdependence is another characteristic of virtual organizations; typically, virtual companies serve as brokers or middlemen, connecting industries or service providers with the client. In this manner, no one can survive without the other, and interdependent connections are developed to preserve the link's durability. This necessitates a great deal of partnerships, which at times renders the organization an open one; as a result, agreements are formed between the many stakeholders, so blurring the organization's boundaries.

Enhanced market share is yet another essential attribute of virtual firms. These firms supply services and products across international borders, thereby expanding their local and global markets. These businesses prevent the loss of competition by becoming one-stop shops for nearly everything, hence increasing their trade margins as they sign several contracts with various clients. Additionally, they have a greater awareness of the market's needs and fill the void. This increases the level of integration between suppliers and vendors. (E-articles 2005)

Possibilities and difficulties of virtual groups

According to Yassin, virtual businesses have the potential to perform well, and their dependency obligates them to give the finest services (2008). They are comprised of specialists from many sectors, resulting in a melting pot of core competencies since high performance equates to high revenue.

This makes them very profitable, and in the long run, the client receives the best, and the fact that it transcends geographical boundaries is a positive that offers these businesses the exposure they need in the business world. In addition, they encourage worldwide connections between specialists from other sectors, which decreases the administrative costs of the firm. This redirects the money to more productive uses, such as updating their technology to give clients with even greater service. A virtual organization's shared memory is well-organized and managed.

Utilizing networked computers facilitates the sharing of information and expertise. Partners may access and share the same information, thereby saving time and money (Yassin 2008). It also ensures that all concerned parties have access to the organization's information, hence facilitating the efficient flow of processes. Virtual firms allow their partners the opportunity to 'own' large corporations by linking them to global movers; this is a crucial commercial exposure.

Failure is one of the issues that virtual companies encounter, which is due to the fact that these organizations contain several risks. There are times when a single partner's failure to deliver damages the entire organization. However, interdependence is not necessarily a good thing because it can lead to overdependence, which can slow down the business process.

According to Yassin (2008), virtual firms may be more expensive to manage in the long term due to their reliance on information technology. This requires the organization to go above and above to ensure that all parties are linked, which may be fairly costly in terms of installation and logistics. The information may be misunderstood or even fall into the wrong hands if there is a breakdown in communication. Management in virtual businesses is difficult since individuals are mostly their own bosses and so function freely.

How possibilities and difficulties have affected virtual team management

According to Gould (1999), virtual teams are physically separated partners or coworkers working under the cover of virtual organizations. Their engagement is limited to information technology, and their first encounter is electronic via email, the Internet, or the telephone. However, these individuals are destined to meet face-to-face at some point in the course of their duties.

The most important aspect of managing virtual teams is maintaining excellent information exchange and communication (McMahan 2010). As outlined in the list of obstacles, inefficient information sharing and communication can result in the extinction of an organization whose information is accessible to every member. To properly govern what is being accessed, individuals must maintain records that provide future audiences with a picture of operations.

Recording information decreases the possibility of inaccuracy, and since the majority of exchanged information is educational, it must be incorporated into the strategic plan. This guarantees that the knowledge is managed effectively and serves its intended purpose. Communication effectiveness is of the utmost importance, and channels must be transparent and focused on outcomes. Since the majority of the communication is electronic, the emails must be lively to motivate the members. A shared database is required to ensure that all involved members get communication. The management staff must provide feedback and request the same from the members, as doing so keeps everyone on the same page.

According to Lethbridge (2001), virtual companies are required to have well-developed management structures. When it comes to the delivery of goods or services, the customer should not perceive any type of disconnect. To gain a client's trust, they must maintain a consistent "virtual" image and operate as a unit. This topic on image has had a significant impact on their management. Virtual organizations struggle with planning and organization and have been compelled to improve.

Since there are no well-defined structures, the organization's members may not always know what to do or when to do it. To prevent potential disputes, the line of command must be clearly established. Some members may believe they are superior to others, which can be damaging to the organization's operations. For efficient management, these members must devise a structure that unites them under one body, notwithstanding their status as separate entities.

Conclusion

Rather, virtual organizations can be viewed as a component of many enterprises today. Those who are not directly involved rely on outsourcing, which defines virtual organizations without a doubt. The primary link in these organizations is information technology, and based on the findings of this study, virtual organizations are the organizations of the future. The fact that their market performance is superior to that of conventional products is proof that they are here to stay. The customer, the most essential person in every organization, is pleased because he receives the finest from the specialists. Virtual enterprises consolidate their core operations and boast a substantial market share, which contributes to their success.

Virtual corporations are also cost-effective with regard to overhead expenses, and this affords business prospects to people who lack the funds to establish their own companies. Due to the novelty of information technology, virtual organisations are now a novel concept on the market. Their growth potential is greater due to their extensive network. Utilizing the Internet and email provides a database required by product makers, service providers, and customers. This is an unbreakable bond as long as demand exists and their adaptability facilitates cross-border commerce. However, they have restrictions that, if handled properly, can be overcome to maintain the high performance.

References

(1998) Network structure in virtual organizations, Ahuja et al. The business college at Florida State University.

E-articles. Advantages of e-partnerships and virtual organizations (2005-2010). [Online]. Web.

Gould, D., "Fifth generation work – virtual organization" (1999-2006). Virtual teams journal, vol 23-30.

Jagers et al. (1998) Virtual organization characteristics. Dutch territory, Breda Lethbridge, New Brunswick (2001) The implications of an I-based taxonomy of virtual organizations for effective management. Australian university named Edith Cowan.

Volume 4, No. 1, 2001.

K. McMahan (2010) offers 17 tips for managing virtual teams. In virtual teams, effective communication and information exchange are essential. [Online]. Web.

Techtarget (2010) defines virtual enterprises. [Online]. Web.

Virtual organizations, Thomas (2010). Reference for commercial purposes. Vol. 2 of the Encyclopedia of Business

Yassin, A. (2008) Challenges and success achievement factor for virtual organization concept. [Online]. Web.

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Enterprise Rent-A-Car: Transformation College Essay Help Los Angeles

Enterprise Rent-A-Car (ERAC) has undergone a business change in order to enhance its capabilities and foster competitive uniqueness. The downstream advantages of customer satisfaction, work-life balance, and productivity are unsatisfactory despite considerable investments in training and an institutionalized value system. Integrated change efforts are offered in this research to address the observed cultural problems and performance gaps. The objective is to create significant gains in worker retention and service quality in the automobile rental industry, which is becoming increasingly competitive.

Analysis

Assuming that the organizational procedures of the Alabama and Florida EERAC offices are mirrored in all other EERAC offices, it is possible to identify four indications that would indicate a need for reform. There are deficiencies in the employee incentive schemes, performance evaluation, and formal training.

A study of the Six Box diagnostic model can assist in identifying particular areas and systems that require modification. Concerning purpose, ERAC's vision and mission are centered on service excellence and a value-based system, as well as the creation of an ideal work environment. However, there are no clear organizational objectives associated with these claims. In response to competitive pressure, the ERAC structures make efficient use of modern technologies in mobility solutions such as WeCar (Fuller, 2015). Programs, such as the Flex-E-Rent service, expedite product development. Nonetheless, management concerns and poor inventory control (overbooked reservations) continue to plague the locations, negatively impacting sales and performance. Regarding prizes, ERAC's incentive program is inadequate. In comparison to competitors, employees work longer hours each week for less pay.

At ERAC, relationships are hampered by inadequate communication from the top down. Few top executives visit branches to observe firsthand employee problems and customer experiences. The leadership style in this example appears to be authoritarian, which explains why the ERAC branch lacks work-life balance and staff development possibilities. The executive leadership is less attentive to employee concerns. Consequently, sales and customer service have suffered. The ERAC has created helpful mechanisms such as technical platforms and market penetration in 8,000 global locations. These strategies have been crucial in achieving the organization's goals.

External Evaluation

The external elements influencing change in this organization are listed in the following table. The environmental forces associated with certain opportunities and dangers are described in depth in the following sections.

Environmental Pressures as a Potential Risk

Fashion – Work-life equilibrium

– Organizational culture change

Development of leadership The employee turnover rate

Innovation and technological development

Training is required by law

HR regulations and policies

– CSR endeavors – Absence of scale economies

State and federal labor statutes

Geopolitical – Retaining Exceptional Employees

– Geographical growth

– Recruitment decisions Co-branding with municipal government

– Competitive rivalry

Market decrease – Digital marketing methods

Strategic collaborations with airlines and hotels – Financial restrictions

– Fuel costs

Hypercompetition & Differentiation of Brands

Offering competitive prices

– Entry obstacles – Manufacturers' large car schemes

– Stationary-based networks

Fashion

Work-life balance, company culture reform, and leadership development are case-specific potential for improved performance. Reducing daily shift and week hours would be an intrinsic motivator in this service industry, resulting in higher morale and increased production. Possibilities for corporate culture reform exist in light of the growing diversity of the workforce. Current demographic trends necessitate flexible work hours to motivate millennial employees (Earl, Taylor, Roberts, Huynh, & Davis, 2017). In this industry, the creation of corporate leaders who will drive future organizational expansion is a competitive strategy. However, advances in innovation and technology, as well as a high rate of employee churn to competing companies with better terms, are significant challenges relevant to this situation.

Mandate

A competitive advantage in the automobile rental services market is a strategic priority. Offering career growth opportunities to employees is a frequent competitive tactic for reducing employee turnover. Assuming that labor laws vary between countries, compliance with local HR legislation and policies offers opportunity to encourage workplace diversity and avoid legal penalties. Organizations, such as ERAC, are required to engage in corporate social responsibility (CSR) to enhance their reputations (Ling, Xin, & Shuming, 2018). Thus, the company has the chance to promote green projects, such as hybrid automobiles, and enhance its public image. However, the absence of economies of scale and adverse state and federal labor rules pose a danger to the industry's profitability.

Geopolitical

The chance for growth in the automobile rental industry stems from the retention of competent people, the expansion of sales or income, and the recruitment decisions made by businesses. Staff retention through incentive programs is one method workplace stability may be enhanced (Al Mamun & Hasan, 2017). The organization has the ability to increase sales and revenue by expanding into undiscovered new markets. In addition, assuming a decentralized recruitment strategy, there is a high probability of tapping into the local pool of talented managers. However, co-branding with local government as part of an integrated transit system and severe competition pose significant concerns to the continued existence of businesses in this field.

Market Decline

The industry for automobile rental services is highly competitive and thriving. The firm has the chance to invent digital marketing tactics in order to boost its competitive position. Additionally, strategic agreements with airlines and hotels might aid in reversing the sales decline. However, economic limits and high fuel costs (assuming there are few electric rental cars) pose a danger to these endeavors.

Hypercompetition

Differentiating a car rental business brand from competitors is a crucial competitive tactic. There are opportunities to enhance brand reputation by offering customers with competitive offers and efficiently managing bookings. The firm can consolidate its competitive position on the market because of the market's high entry barriers. However, huge vehicle manufacturer fleets and station-based systems pose a danger to automobile rental services (Future Market Insights, 2020). These players are able to supplant operators.

Internal Evaluation

Change-supporting or -inhibiting organizational forces and functions have intrinsic strengths and shortcomings. Using the idea of the cultural web, numerous underlying cultural concerns can be revealed. Existing rituals and routines are associated with the values of hard labor and customer service, which are identified as paradigmatic assumptions (Palmer, Dunford, & Buchanan, 2017). Stories and symbols strengthen talent search partnerships with communities and partners. Control systems are utilized in performance evaluation and research and development, whereas power structures represent upper management as the most influential organ and a degree of autonomy at the branches. The organizational structure demonstrates insufficient task integration, necessitating coordination between branch and upper-level management.

The stated structural challenge relates to the distinction vs integration of roles. High power distance between upper- and branch-level management and long-term orientation of organizational ideals are the most significant cultural barriers in this scenario, according to Hofstede's model (Orlando, Renzi, Sancetta, & Cucari, 2017). The internal environment factors are included in the tables below.

Organizational Pressures Strength Weakness

Expansion & Geographical diversification

– Diverse holdings & – High sales inventory

monetary cash flow issues

Integration and cooperation; Strategic relationships with airlines and automobile dealers

Partner recognition programs – Limited vertical integration

Identity – Strong brand identity &

New broom; robust trainee program; workforce with less diversity

Power and politics; Autonomous administration at the branch level; Minimal assistance from senior management

Organizational Functions Pros and Cons

Management – A strong management training program

Rapid ascent in the corporate hierarchy Centralised decision-making

– Ineffective performance appraisal

Marketing – Reliable distribution network

– Entry into the new market – Mechanisms for addressing consumer concerns

Accounting/Finance – Solid financial condition and profitability – Liquidity issues in certain branches

Limited technological training; Information systems; Automated rental reservation service;

New product development through research and development (WeCar) fewer inventive products than rivals

Organizational Pressures

Growth. Geographically diverse operations (8,000 locations) are a strength that must be expanded. Utilizing its market expertise and financial resources would allow for expansion into new markets. A portfolio that includes SUVs, exotic automobiles, and minivans is a further distinguishing feature (Enterprise Holdings, 2020c). A high sales inventory (booking reservations) is a possible revenue-impacting problem. Cash flow issues are another drawback that affects operations and employee motivation.

Collaboration and integration Strategic connections like Air France and Hilton Honors are a competitive advantage that should be enhanced. Reward schemes for loyal customers, including points for miles traveled, are a further distinguishing feature (Enterprise Holdings, 2020a). A lack of vertical integration between auto dealers and technology suppliers is detrimental to the firm.

Identity. Over the years, a strong brand identification in the automobile rental market has been established. The internship program is among the best in its field. The pillars of a brand's identity are quality and customer value (Lord, Dinh, & Hoffman, 2015). However, the failure to address making reservations is a deficiency that is resulting in dissatisfied customers.

Fresh broom. The trainee program and expedited promotions are essential qualities for new broom adjustments. Opportunities for new managers to gain experience serve to prepare them for promotion. Hiring personnel from local contexts has resulted in a workforce that is less diverse, which is detrimental to the company's growth chances.

Politics and authority. The branch management has some independence from the headquarters. This dispersed leadership technique must be developed as a strength. A drawback that may hinder productivity is that higher management does not appear concerned with customer and employee issues at the branch locations.

Administrative Functions

Management. A well-known employee training program is beneficial to the company. The rapid advancement of entry-level employees up the corporate ladder is an additional strength that would result in a talent pool for management. The downside of centralized decision-making is that it negatively impacts branch operations. Ineffective performance evaluations lower employee morale and productivity.

Marketing. Marketing strength is a robust distribution network made possible by strategic agreements with airlines and hotels. Entry into new markets facilitates expansion into unexplored markets. Customer satisfaction is affected by ineffective systems for addressing client complaints.

Accounting/finance. A solid strategic position and a history of profitability suggest an effective financial management function. Some divisions' liquidity issues constitute a deficiency that must be remedied. The objective is to increase bottom-line performance.

Information technologies Patented innovations are a company's greatest asset. Rental Management System is an automobile rental solution that improves the reservation process for business clients (Enterprise Holdings, 2020b). Inadequate personnel technology training is a problem affecting the organization.

Investigation and development. New product development, like We Car, is a must-develop strength. Limited customer service solutions create a weakness. Additionally, having fewer new items than competitors is detrimental to competitive standing.

Analysis of Change Readiness

The modification proposal under consideration modifies employee benefits, performance evaluation, and leadership development. The relevant assessment tool items for ERAC are included in the following table.

Financial explanation for the proposed change 7

Costs of change were clearly forecast 6

Detailed execution strategy developed 7

A successful plan identified six

Clearly defined success criterion 7

Total 33

A score of 33 suggests that executing the adjustment will cause severe worry (Palmer et al., 2017). Therefore, change resistance reduction measures are required.

Formulation

To attain the objectives of increased staff morale and productivity, staff benefits must be transformed. The outsourcing of payroll and benefits management to third-party corporations is a first-order move that would address employee remuneration and free up company resources for other core operations. Moreover, it is suggested that branch-level remuneration and work-life balance be supported by data-driven, locally-tailored talent initiatives that track individual success. A second-order strategy entails differentiating benefits by region and country in accordance with a branch's income and particular workplace issues. Establishing a worldwide payroll strategy that assigns responsibility to the HR and finance departments would increase the transparency of employee benefits and career advancement. An organization's succession planning would be enhanced by a process-based approach to leadership development. Hiring and recruitment based on required skill sets should be done locally, whereas training and development should be handled by the central HR department.

Implementation

Based on Kotter's eight-step model, the branch manager will submit a business case for change to top management before outsourcing the payroll system. The effort would then be led for two months by a coalition comprised of the HR manager, providers, and staff representatives. The team will develop and communicate a strategic vision for payroll management. A three-week training program on performance evaluation procedures will empower employees. After one month, based on statistics, awards for the best-performing employee will be determined as short-term victories. The gains will be institutionalized by a global payroll policy a year after champions (branch managers) combine them.

Plan to Address Opposition

Using interactive communication technology and including all employees and management in the change process can assist lessen opposition.

Communication Strategy

To contact all employees, many methods will be used. There will be use of staff emails, internal memos, and social media to communicate the change (van Sandwijk, 2019).

Image of Variation

Improved productivity and employee morale will create an image of organizational improvement. In addition to training and team-building initiatives, the change will be promoted by these initiatives.

Lessons Learned

The short-term successes will be institutionalized by means of local policies and, subsequently, global processes. This strategy will assist boost morale and productivity in other departments.

Evaluation

Incorporate Milestones of Success

Individual to collect data Branch manager –

Methods to be utilized Productivity and client gratification A monthly measurement of an improvement in performance and a decrease in complaints

When to collect information On a quarterly basis –

Reporting Upper-level management –

Conclusion

This research proposes the outsourcing of the payroll system in order to ensure data-driven compensation. The anticipated results include increased staff morale and productivity. For this change, a bottom-up implementation strategy is envisioned.

References

Al Mamun, C. A., & Hasan, N. (2017). A conceptual analysis of the factors influencing employee turnover and effective retention tactics in corporate organizations. 15(1), p. 63-71 in Problems and Perspectives in Management. doi:10.21511/ppm. 15(1). 2017.06 C. Earl, P. Taylor, C. Roberts, P. Huynh, and S. Davis (2017). The generational transition in the workforce and the transformation of work: Implications for policy, productivity, and participation. Age Diversity in the Workplace, 17(3), 3–34. Enterprise Holdings (2020a). Enterprise reward schemes for partners. Web. Enterprise Holdings (2020b). Mobility and progress. Web. Enterprise Holdings (2020c). About enterprise rent-a-car. Web. Fuller, C. (2015). Three brands under one roof at Enterprise holdings! Future Market Insights. Web (2020). Overview, analysis, and projection of the U.S. vehicle rental market. Web. Ling, M., Xin, C., & Shuming, Z. (2018). Corporate social responsibility in organizational behavior and human resource management: A survey of the literature and outlook Foreign Economics & Management, forty-sixth number, pages 59-72 doi:10.16538/j.cnki.fem.2018.06.005 Lord, R., Dinh, J., & Hoffman, E. (2015). A quantitative approach to time and organizational transformation. doi:10.5465/amr.2013.0273 Academy of Management Review, 40(2), 263-290. Orlando, B., Renzi, A., Sancetta, G., & Cucari, N. (2017). What effect does firm diversification have on innovation? Technology Analysis and Strategic Management, 30(4), 391-404. Palmer, I., Dunford, R., & Buchanan, D. A. (2017). Managing organizational change (3rd ed.). Boston, MA: McGraw- Hill Irwin. van Sandwijk, G. (2019). Your organization's vision is communicated via the cultural web.

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How Does Social Media Influence Sports Brands Marketing? College Essay Help Los Angeles

Introduction

As the shift from physical to online platforms ushers in a new era for brand marketing, organisations continue to experience a fresh wave of transformation. Online marketing has various advantages over traditional methods. The most notable advantage of the new marketing dimension is the capacity of businesses to quickly contact a large public. In addition, it creates many options to engage target audiences in interactive business while customizing marketing material.

The World Wide Web (www) is a global online medium with unrestricted access. Everyone has access at all times and locations. In this manner, companies are increasingly leveraging the online environment to promote their businesses. A variety of social media platforms are available on the World Wide Web. Social media channels include, among others, sites for sharing creative works, blogging, business networking, collaboration, and invitation-only social sites.

Consumers browse social media channels for a variety of reasons, including amusement, entertainment, acquiring information, monitoring the most recent product promotions, and purchasing goods, among others. Recent study reveals that committed consumers are increasingly using the Internet to collect information, reviews, and suggestions about companies and products. Utilizing social media channels, businesses are able to reach clients in a variety of ways nowadays.

Regarding the usage of online marketing and social media, several organizations employ distinct tactics. Online presence is an essential business strategy in the present day. Social media offers various benefits for brands seeking to increase their consumer loyalty and competitiveness. For sports organizations, social media plays a vital role in the development of brand loyalty. With more than 65 percent of online users utilizing new media, the platform continues to experience rapid expansion in numerous industries. These benefits might be extended to sports organizations who wish to boost their marketing efforts and brand loyalty.

A rising amount of research indicates that sports organizations are embracing social media platforms including Facebook, Twitter, YouTube, Instagram, Pinterest, Google+, Blogs, Foursquare, and live chats. In addition to broadcasting massive quantities of information to large, interactive populations, social media outlets facilitate instant access to consumers. In terms of brand marketing and establishing customer loyalty, social media provides a reasonably inexpensive method. Specifically, it improves communication, brand building, establishing consumer relationships, and image management. This study examines how sports organizations might employ social media for marketing and brand loyalty creation.

Research Concerns

The current investigation will be led by the questions listed below.

What effect do Twitter and Facebook have on the identification of fans? What effect do Twitter and Facebook have on the relationship between supporters and their favorite teams? What effect do Twitter and Facebook have on the value of a brand?

Hypotheses

On the basis of the study questions, the following hypotheses were developed:

Fan identification is anticipated to have a favorable effect on brand equity. H2: Brand partnerships are likely to impact brand equity positively.

Literature Review

Social Media

Social media is a term that can easily induce confusion among sports administrators and researchers (Yadav, Joshi, & Rahman 2015). The subject of what constitutes social media attracts the interest of academics and marketing researchers. Despite its similarities to Web 2.0 and User-Generated Content (UGC), a number of academics argue that social media is distinct. Hollebeek, Glynn, and Brodie (2014) assert that social media can be traced back to the 1950s.

High-speed Internet access helped to the formation and expansion of social media websites. MySpace came into existence in 2003, Facebook in 2004, and Twitter in 2006 (Stavros et al. 2014). These three social networking sites contributed to the creation of the phrase "social media."

According to Kaplan and Haenlin (2010), social media are groups of Web-based apps that adhere to the ideology and technology of Web 2.0 and permit users to produce and exchange user-generated content (Pharr & Lough 2012). Eagleman (2013) defines User-Generated Content (UGC) as the compilation of all the ways in which individuals utilize social media.

Other authors have alternative definitions of social media. For instance, Kietzmann et al. (2011) say that social media leverage mobile and web-based technology to create highly participatory platforms where users may share, co-create, discuss, and change user-generated material. Other authors highlight the importance of social media in influencing consumer behavior via the establishment of awareness, information acquisition and sharing, attitudes, purchasing patterns, and communications that follow the purchase and consumption (Parganas, Anagnostopoulos, & Chadwick 2015).

Overall, social media definitions and descriptions emphasize sharing, conversations, communication, purchasing, modification, and user-generated content creation (Lim et al. 2015). Among the distinctive characteristics of social media are the concept of networking, which involves the meeting of digital strangers with shared interests, the creation of personal information profiles, the sending of messages to each other and the sharing of messages containing diverse content with other users (Stavros et al. 2014).

Over fifty percent of internet adults in the United Kingdom and the United States use at least two social networking sites. Research demonstrates that Facebook, Twitter, and LinkedIn are largely utilised to navigate content on the World Wide Web exactly like search engines do. Globally, about 100 percent of mobile-cellular Smartphones are in use, which can be ascribed to the rise in social media usage. In fact, social media users have access to them at all times and locations. (Yadav, Joshi, & Rahman 2015).

Researchers assert that the three websites are responsible for social media's prominence (Pharr & Lough 2012). A detailed examination of the social media themes covered by numerous academicians and researchers reveals a concentration on impression control and safety.

Social media experts and academics have given little consideration to the sports business. Nonetheless, several scholars have linked social media to sports sector marketing and brand formation (Stavros et al. 2014). Journalism sports researchers have established a connection between social media and communication. For instance, there is a connection between athletics and social media usage.

Social Media Promotion

Numerous organizations, ranging from small and medium-sized firms (SMEs) to multinational corporations (MNCs), are adopting new media and social network marketing as well as rigorous communications, which are fundamental components of their promotional and branding strategies (Pharr & Lough 2012). Several causes motivate these businesses to use social media marketing. First, it is the most convenient and cost-effective platform for communicating with and sharing information with large people.

Second, the behavior of social media users, specifically viral sharing and following, makes the channel effective for instantaneous information dissemination (Yadav, Joshi, & Rahman 2015). For instance, when users discover new information about a product, service, or system, their propensity to share it with others on network sites causes it to spread swiftly (Stavros et al. 2014). The users exchange company or product information with their followers, who then pass it along to other users in their network.

In social media, this concept is sometimes referred to as "viral sharing." It provides a multiplier effect that expands the information's audience (Parganas, Anagnostopoulos, & Chadwick 2015). Companies in a strong position in social media continue to tout the social media multiplier effect's benefits (Killian & McManus 2015).

In addition, social media networking has a favorable impact on company that is ingrained in user behavior. A company with a strong social media presence would surely benefit from the propensity of platform users to engage in marketing on their own initiative. This behavior establishes a dynamic ecosystem that fosters relationships between individuals and the content they produce and exchange (Yadav, Joshi, & Rahman 2015).

Users of social media are recognized for generating conversations on concepts, services, and even products and companies. The discussions center on individual experiences, positive or negative, and even include advertising for the products (Pharr & Lough 2012). It is usual for social media users to share adverts for items and services that they have found to be satisfactory (Stavros et al. 2014).

For example, when Wayne Rooney scores a goal for the England national team or Manchester United, his fans frequently leave complimentary remarks. A customer who enjoys their first cup of Starbucks coffee would likely upload photographs on Twitter or Instagram with favorable comments and corporate tags (Parganas, Anagnostopoulos, & Chadwick 2015). These actions are advantageous for these businesses since they market their items on social media networks.

Existing and prospective consumers can initiate discussions about the items or services they desire, need, enjoy, and dislike, as well as those they do not like. These conversations occur in real time (Yadav, Joshi, & Rahman 2015). As a result, businesses can utilize this opportunity to create personal relationships with clients in order to provide a superior product or service. It contributes to a competitive advantage.

BWIN and other businesses in the sports industry have realized the power and benefits of social media marketing. Through Twitter, the company engages a large number of Real Madrid fans in discussions, player recommendations, and expectations as devoted customers (Stavros et al. 2014). It is important to note that sports organizations participate in a fierce competition for players, awards, and reputation.

Historically, football clubs were prohibited from disclosing information about prospective players they wished to acquire (Pharr & Lough 2012). This conduct was referred to as a leak of information that could result in unprecedented competition. In the wake of social media, clubs communicate information about prospective players (Yadav, Joshi, & Rahman 2015). This revelation sparks significant discussions among rival team supporters on social media. As a result, rival teams obtain the information and join the pursuit for these players (Parganas, Anagnostopoulos, & Chadwick 2015).

With enhanced products, practitioners may now better serve clients. Thanks to the interactive character of social media users. The capacity to initiate discussions between individuals, corporations, and customer and seller communities in which buyers contribute content and create value (Stavros et al. 2014). The rise of social media with its potential to facilitate engagement between customers and marketers continues to pique the interest of managers seeking to comprehend and provide improved services via these web-based platforms (Pharr & Lough 2012).

By adopting social media presence as a strategic technique, sports organizations can raise their success measurements (Filo, Lock, & Karg 2015). Brand loyalty results from the capacity to respond to competitive threats, increase sales and revenue, and build a solid client base (Mancuso & Stuth 2014).

Individuals are most careful and adept at devoting their attention to information in the aftermath of more stimulus bombardments, according to research. As a result, marketers should capitalize on this trend by identifying opportunities to engage clients in interactions aimed at satisfying their needs. Establishing methods to address clients in small groups or one-on-one can facilitate the identification of their true needs (Parganas, Anagnostopoulos, & Chadwick 2015).

Social media is renowned for putting customers at the center of business, since it enables marketers to communicate with consumers and engage them in companies through a variety of innovative techniques (Filo, Lock, & Karg 2015). In the present corporate environment, social media provides a rich source of information for clients. Customers seek details about preferred products or services (Parganas & Anagnostopoulos 2015).

Once they get it, they begin identifying available possibilities, studying information about selected options, and comparing them in order to select the one most likely to provide the best quality, price, and satisfaction. Alternative evaluation is a typical consumer practice in the contemporary commercial world (Stavros et al. 2014). Numerous businesses competing for a common market sector are a significant factor in this consumer behavior (Meng, Stavros, & Westberg 2015).

Customers' attitudes and perceptions towards products and brands result from the processing and interpretation of data (Parganas, Anagnostopoulos, & Chadwick 2015). Customers will create a favorable opinion of products and companies that ultimately meet their quality, pricing, and needs-satisfaction standards. Customers' perceptions of products and brands are excellent indicators of information search and evaluation processes (Parganas & Anagnostopoulos 2015).

Customers are prone to develop an unfavorable attitude toward businesses that do not provide extensive product and service information on social media channels (Pharr & Lough 2012). On the contrary, organizations that are well-established on social media, consistently provide real-time information about their products or services, and respond promptly to client inquiries are likely to cultivate positive consumer sentiments. Researchers claim selective information exposure (Stavros et al. 2014). Customers seek information regarding products that are pertinent to their needs.

In this sense, organizations engaging in social media marketing should provide information that meets client requirements (Meng, Stavros, & Westberg 2015). Customers are prone to have bad experiences with businesses that provide contradictory information. Experience influences one's disposition. Potential consumers develop condescending attitudes against a certain product or brand after a negative experience with it. Therefore, businesses should endeavor to deliver continuous and relevant creative content that inspires confidence and a good attitude (Pharr & Lough 2012).

Social Media and Branding in Sports

The usage of social media has not escaped the sports industry. Professional sports teams, organizations, and interested parties rely extensively on social media for communication. The websites for the teams have been redesigned and synchronized with social media channels to simplify the flow of information from the management regarding activities, events, and offers to the stakeholders and supporters (Meng, Stavros, & Westberg 2015).

Teams place a great deal of importance on these social media accounts, which convey information to prospective customers, stakeholders, and sponsors. Consumers and brands build social media groups with titles such as brand page, fan page, groups, and communities (Pharr & Lough 2012). These pages compose what are known as online or virtual communities.

Brand communities are specialized, non-geographically constrained groupings of individuals built on structured networks of social interactions amongst brand-loyal customers (Stavros et al. 2014). A brand community demonstrates three traditional characteristics of virtual groups, including shared consciousness, rituals, and beliefs. In addition, they foster a sense of moral obligation. The benefit of online brand communities is their geographical independence.

The developed content can be shared internationally. This notion of geographical independence is advantageous to brands since material can be shared with potential clients outside of designated locations.

Customers follow brands on social media for a variety of reasons. Due to the fact that every person has unique requirements and passions

Singapore Foods Inc.: Market Audit And Competitive Analysis College Essay Help Los Angeles

Executive Synopsis

This study examines the numerous elements that must be taken into account when a product is introduced into a new consumer market, Singapore, by a firm called Singapore Foods Inc., which is primarily engaged in the ice-cream business.

Several factors, such as economic, cultural, marketing, and financial, must be discovered strategically when assessing the marketing potential of a new product, such as ice cream goods. Additionally, business conventions and practices are examined. The business environment describes the Singaporean cuisine, dwelling style, and attire. Before planning to advertise ice cream in Singapore, this section discusses the cultural considerations that must be made. The data in the economic analysis are primarily divided into two types. In market audit and competitive analysis, data is gathered on variables such as the Singapore market-bound product's dependability, compatibility, complexity, and comparative advantage. Other information included in economic analysis is customer purchasing behavior, product distribution, advertising and marketing, price strategy, competitor analysis, research of market size, depth, and government involvement in the marketplace. The preliminary marketing plan part comprises a marketing strategy developed to promote the company's ice cream goods in Singapore. This company's market performance and capacity to carve out its own niche in effectively selling ice cream items to Singaporeans will be determined to a considerable measure by the initial strategies it develops. The earliest years of this ice cream firm would definitely be taxing and difficult, and the company's ability to withstand such risks and difficulties would significantly impact its overall growth and eventual success.

A synopsis of the cultural examination

Singapore's population continue to practice its rich, old, and fascinating culture even in the current period. In addition, it has a very cosmopolitan viewpoint that welcomes expats who come here to settle, work, or conduct business. The country's environment, population, and infrastructure are all conducive to the production of ice cream. Other significant advantages include the high level of education of the local population, the clean and hygienic environment, and the effective law and order. Culturally, the atmosphere of the country is quite conducive to establishing an ice cream business, and it has every potential of attaining a thriving market and a sustainable business in the future.

Introduction

International marketing can be defined simply as the application of marketing principles and marketing capabilities across multiple countries. International marketing facilitates the movement of a company's goods and services from one country to another for a profit. Marketing activities designed to assist the exchange or movement of goods across nations constitute international marketing. (2004) International marketing.

When engaging in international business, marketers must consider a number of aspects that affect their marketing in other nations. Before engaging in international marketing, the business must analyze the variations in marketing activities based on the culture of the people, the demands and preferences of customers, the economy of the country, the political systems, a competitive analysis, and a preliminary marketing plan.

Country Evaluation

Singapore has been selected as the South East Asian nation for international product marketing. Singapore is very close to the equator. It is a successful metropolis that has overcome its lack of natural resources to become one of Asia's most renowned economies. The country study examines numerous facets of Singapore, including;

Cultural Analysis Economic Evaluation Audit of the market and competitive analysis Preliminary marketing plan

All of these are described below:

Cultural Analysis

This comprises information that allows marketers to make market planning decisions. This is seen as an important factor that must be considered by all marketers, as it is the culture that determines the lifestyle, tastes, and preferences of clients in each country.

Introduction

The enterprise manufactures ice cream goods. It intends to manufacture and distribute its products on the international market, particularly in Singapore. This country is suitable for the marketing of the company's products since it allows for successful market penetration. In order to promote its products in Singapore, the corporation analyzes the country's cultural and general characteristics. As is well knowledge, Singapore is a cosmopolitan city with a Chinese majority population. Perhaps what is most enduring about Singaporeans is their innate warmth and empathy for other communities, particularly foreigners.

Singapore is also a prominent tourism destination, with over 10 million visitors annually. With expanding tourism and a growing population, a new ice cream product business in this country is anticipated to be successful. It is currently recommended to conduct a comprehensive analysis of Singapore's nascent ice cream industry.

Brief history of the country's significance

"The name Singapore is derived from Singa-pura (“City of the Lion”), which has been in use since the fourteenth century." (Brogger 2009).

When seen as a whole, Singapore's tourist attractions and building designs give the impression that they were created by a single architect.

Geographical conditions

Location

Singapore is a city-state situated near the center of Southeast Asia. Its area is around 642 km2 It has frequently been ranked as one of the greatest places to launch a business as one of the world's main trading nations. Bukit Timah, which is 206 meters above sea level, is the highest point.

Climate

Singapore's climate is tropical due to its proximity to the equator. The climate is hot and humid all year. As part of the northeast monsoon, the month of December is characterized by copious precipitation. The summer season is dry with 170 mm of rainfall, which is attributed to the southwest monsoon.

Topography

Singapore is a low-lying, extremely verdant, and centrally elevated island with hill ranges. Mangrove swamps are found in coastal regions with inlets to the north and west, as well as numerous varieties of tropical rainforest.

Social structures

Family

Families in Singapore place a greater emphasis on harmony and mutual security. In the social system, they are seen as the fundamental element in fostering loyalty and cohesion.

The minimum age for the first marriage has been raised, and it is now customary for adolescents to reside with their parents until their wedding.

The employed population consists of 80% men and 50% women, with superior posts reserved for men.

Education

The government places a greater emphasis on education, and the populace believes that achieving a high grade will inevitably lead to opportunities for advancement. Based on this, Singapore is renowned for its meritocratic educational system. Children are required to complete six years in elementary education, four years in high school, and then either vocational school or college. On the basis of interviews and test scores, pupils are admitted into schools.

Political structure

Economic prosperity and economic system stability are integral to Singaporean culture. Parliamentary system is practiced in Singapore. The president is the head of state. He is elected to a six-year term and is re-elected every five years. The cabinet is regarded as the executive branch of government. The execution of government regulations and policies is delegated to several ministries and statutory boards. The People Action Party (PAP) holds the parliamentary majority. For shops and other department stores, the government charges a 3% tax on goods and services.

Legal system

The British legal system is adopted as Singapore's judicial system. The judiciary enforces the caning and even the death penalty for drug smuggling. The country also possesses military and civil defense capabilities, which are regarded as the most important protective component.

Social institutions

This country is differentiated primarily by ethnicity rather than by social status. Those ethnic groups whose occupations are progressing are those who are ascending. Singapore is a cultural connector between India, Malaysia, Indonesia, and China. In Singapore, the term "race" encompasses numerous ethnic groups. There are Japanese, Sikhs, Shanghainese, Armenians, Arabs, and Javanese ethnic communities in Singapore.

Commercial customs and practices

The manufacturing sector is the largest contributor to economic growth in Singapore. The manufactured goods are primarily exported to various nations. Natural rubber, palm oil, electronic devices, and refined petroleum products are exported. Singapore's trading relationships are Japan, the United States, Europe, and Malaysia.

Religion and the Arts

Religion and other philosophies

With limited exceptions, the people are free to engage in their religious traditions. "Singapore has been described as one of the world's most religious nations. Islam (Malay), Hinduism (Indians), Buddhism, Taoism, and folk religion (Chinese) are the primary religions, along with a significant number of Christians of various denominations. (Brogger 2009).

Aesthetics

Singapore is not a country with its own culture, but rather a melting pot of cultures, including the cultures of the expats who lived here and the tourists that visit in great numbers. The cultural distinctions are a result of the large number of immigrants in the country.

Existence conditions

Diet and nutrition

Important Singaporean foods include chicken, fish, spices, lime, coconut, and tamarind. People prefer to purchase food from stores where it is both inexpensive and freshly prepared. Food is consumed using forks and spoons. Chinese cuisine is eaten with chopsticks, but Malay cuisine can be eaten with the hands.

Housing

85 percent of Singapore's population resides in public housing. Both men and women are members of the working class, but men hold the superior authority.

Clothing

The clothing standards of Singapore reflect the local climate. The men wear shirts and pants. They favor dark blue and gray hues. Lightweight and user-friendly business attire is preferred by women.

Medical care

Both private and public clinics in Singapore are well-established and equipped with contemporary amenities. Additionally, traditional medical procedures are widely used.

Language

Singapore is a multilingual state where Malay is the official language. Malaysia has four official languages: Malay, English, Tamil, and Chinese (Mandarin). English is frequently utilized in educational institutions and administrative organizations as the language of instruction.

Singaporeans utilize a number of sub dialects for each of these languages.

Executive summary of economic analysis

Despite the recessionary tendency in key U.S. and European destinations, Singapore has remained relatively busy not only as a center for products and commodities, but also in the light industrial sector. This bodes well for establishing an ice cream business in this country, particularly given the significant tourist traffic and favorable economic climate for such ventures. In terms of economics, Singapore's strategic location and participation in the World Trade Organization (WTO) could be among the most beneficial elements, not to mention the fact that a greater GDP growth rate and good population growth rate would also boost economic company resources. The 10.1 million annual visitors to Singapore could provide the required push for establishing a light food distribution business in this country.

Economic evaluation

The purpose of economic analysis is to comprehend the micro and macro perspectives of economic conditions. Economic analysis measures the relative strengths and weaknesses of the country and, to a significant degree, reflects the causes for the rise in the country's existing financial and economic position and the obstacles to trade. Economic study is being undertaken for the international marketing of ice cream products.

Statistics and economic analyses

Singapore is a well developed nation with numerous prospective purchasers. There is a free market, the estimated purchasing power of the country is $244 billion, the GDP is $52900, and the estimated annual growth rate of the GDP is 3%. It is the second largest country in terms of economic autonomy, with a high growth rate in the service sector and a smaller increase in the agricultural sector. The country is regarded as one of the top locations for conducting business. Due to the country's status as the second-largest in terms of economic freedom, its foreign markets enjoy monetary independence. The inflation rate is believed to be lower than that of other economies. Independent company practices aid in overcoming obstacles at various stages of the economy.

This research takes the country's outlook into account and provides a comprehensive picture of the profit structure and inflationary trends.

Country Prognosis Overview (3 Year)

Key Indicators for 2008, 2009, and 2010

Growth of Real GDP (%) -4.09 -5.0% 2.20

Inflation of Consumer Prices (av%) 6.54 0.30 2.40

1.52 -1.10 -2.70 (percent of GDP) Budget Balance

Current-Account Balance (percentage of GDP) 14,94 12,70 12,40

Exchange Rate US$:Euro (av) 1.41 1.45 1.37

Exchange Rate US$:Euro (year-end) 1.44 1.40 1.36

(2009 Singapore country profile) (2009 Singapore country profile)

Yearly GDP in Billions of USD PPP Growth Rate

2004 137.46 7.94

2005 152.43 4.81

2006 170.54 5.01

2007 189.04 3.37

2008 195.30 -4.09

(2009 Singapore country profile)

Comparing the advantages and cons of exporting the goods

In the foreign nation, the market is thriving to a higher level. The diversity and industrial base are thriving to a greater extent. There are many opportunities for a small company to grow into a large one on the international market.

It is possible to accomplish investment diversification as well as product category and market diversity. It is possible to acquire a larger piece of the global market, and the product life cycle can expand proportionately on the market. It also results in greater product sales and profits, as well as improved money for the company and the owner.

The negatives include the product's additional financial cost and the additional characteristics that must be added to the market in order for it to be distributed on the international market. A great deal of financial risk is involved in the many types of activities that are carried out, since the collection of payments on the international market employs a variety of methods, including consignment, prepayment, and documentary collection.

They employ three types of generic tactics, including the cost leadership strategy, the differentiation strategy, and the focus approach, to achieve their competitive objectives.

Cost leadership is placing an emphasis on the efficiency of operations and products through analyzing sales, operations, and other cost-cutting techniques. The differentiation strategy encompasses both the differentiation of the products itself and the differentiation of the products themselves on the market. The targeted strategies are those that comprise

Kraft And Heinz Merger History College Essay Help Los Angeles

In the history of mergers and acquisitions, numerous successes and disasters have occurred. Kraft Heinz was formed in 2015 by the merger of Kraft Foods Inc. and H. J. Heinz Company. Indeed, the company's brands are icons for many generations of American families (Kraft Foods Inc. was formed in 1903, and H. J. Heinz Company in 1888). (Hammond & McCracken, 2015). The merged entity was expected to become the fifth-largest food and beverage firm in the world. Berkshire Hathaway and 3G Capital invested $10 billion in the Kraft Heinz Company, currently known as a merged entity (Hammond & McCracken, 2015). At that time, Kraft was valued $6 billion and produced Velveeta cheese and Oscar Mayer meat products (Food Ingredients 1st, 2015). Heinz is internationally renowned for its ketchup and other condiments. It was anticipated that the combined company will generate approximately $28 billion in yearly revenue.

Today, Kraft Heinz is one of the largest food corporations in the world; its brands, including Kool-Aid and Heinz, are recognized worldwide. However, the company’s concentration is not on the healthiest products (and they are extremely popular with Americans) – fast food sets, sweets, sauces, ketchup, sugary drinks, etc. And lately, as you are aware, organic and healthful foods are becoming increasingly fashionable. Since 2015 (when the merger occurred), Kraft Heinz (ticker KHC) shares have increased in value by more than twofold (Food Ingredients 1st, 2015). Who could have imagined such an outcome, given that Warren Buffett and Jorge Paulo Lemann (Jorge Paulo Lemann), the richest Brazilian and one of the wealthiest individuals in the world, were behind this merger?

At the time, Kraft Heinz was the third-largest food corporation in the United States and the fifth-largest in the world. Buffett’s company, Berkshire Hathaway, and Lehmann 3G Capital gained a controlling interest of 51%. Lehmann 3G Capital is well-known for acquiring firms (such as Anheuser-Busch InBev and Restaurant Brands International, which includes Burger King, Tim Hortons, and Popeyes Louisiana Kitchen) and slashing expenses drastically to increase earnings (Yan, 2015). They are renowned for employing so-called zero budgeting, in which managers begin each quarter with a blank slate. They must justify all expenditures; this considerably minimizes wasteful spending and increases earnings. In the case of Kraft Heinz, however, this resulted in lower advertising expenses and the release of new goods just as the trend toward healthier eating began to shift. This resulted in a drop in sales, which was reflected in the share price.

Warren Buffett said that it was not the ideal investment due to the unprofitable price paid for the merger, or overpayment. Almost five years ago, even the most savvy investor on the planet and the most successful businessman in Brazil did not believe this to be the case. However, Buffett has no intention of selling this investment and anticipates that it will eventually pay off, just not in the way that was previously anticipated.

The primary challenge Kraft Heinz faced last year was a shift in consumer preferences. A healthy lifestyle has become popular, so the demand for ketchup, cheese, and pasta has decreased. This significantly impacted sales: Kraft Heinz lost approximately $1.3 billion in revenue by the end of 2019. (Yan, 2015). At the start of the year 2020, the epidemic and the economic crisis became prominent. Consumer demand decreased due to the regime of self-isolation and declining consumer earnings. The decrease in consumer flow had an inevitable impact on the key operational and financial indicators, especially food producers.

The Lehmann 3G Capital firm is renowned for its use of so-called zero budgeting. Every quarter, managers begin with a blank slate and must justify all expenses; this dramatically minimizes wasteful spending and increases earnings. In the case of Kraft Heinz, however, this resulted in lower advertising expenses and the release of new goods just as the trend toward healthier eating began to shift. This resulted in a fall in sales, which the share price reflected.

Now, the corporation intends to implement a new corporate strategy to cut costs. Over the next five years, costs are anticipated to decline by $2 billion, resulting in a 4-6% increase in adjusted earnings per share (The Compound Investor, 2019). By doing so, Kraft Heinz hopes to repair its financial situation and boost its income; yet, the widespread global promotion of a healthy lifestyle remains a hurdle.

Element Kraft Culture Heinz Culture Culture Adopted

Democratic Leadership Strategic Inclusive-strategic Leadership

Organizational Structure Decentralized Centralized Centralized

Orientation Individual-focused Outcome-focused

Recruiting Maintaining workspaces for current workers Massive hiring of fresh personnel Massive recruitment of new personnel from many nations

Production Coffee, chocolate, biscuits, and various crackers. Ketchups, sauces, etc. Extensive variety of listed products

References

Yan, S. (2015). The merging of Kraft and Heinz will create a food colossus. CNN Business. Web.

Hammond, E., and J. McCracken (2015). How the merger between Kraft and Heinz was accomplished in 10 weeks. Web.

First, food ingredients (2015). The Kraft Heinz merger was concluded successfully. Web.

The Compound Trader (2019). The present situation with Kraft Heinz. Web.

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Capital Project: Capital Purchases To The Firm College Essay Help Los Angeles

Introduction

Capital expenditures for a business are those expenditures whose benefits will be realized or produced over an extended period. These capital expenditures may involve actual or intangible assets. Typically, when management decides to invest, their primary objective is to increase efficiency and profitability while reducing costs. In this instance, the capital expenditure is for a private hospital whose market circumstances are identical to those of the ideal market. The investment opportunity is the purchase of patient record filing software. In the past, the hospital has had lengthy lines, and even patient records were difficult to locate (Brealey, Myers and Marcus, 2007).

the project's benefits to management

Under escalating costs of maintenance of information technology services in the company, one of the greatest obstacles is taking effective measures for effective management of information technology in the company, as well as establishing proper coordination between information technology services and ongoing business activities. To achieve cost-effective information technology, the following objectives must be met.

Establishing a special office of technology in the hospital's headquarters, under the supervision of the chief information officer, for the purpose of implementing strategic planning to manage IT services in a cost-effective manner for the firm's businesses, is the first step necessary for the effective management of IT services.

Every service that the department of information technology provides to the enterprise as a whole must be thoroughly evaluated. The evaluation is important to determine the extent to which each service contributes to the production of value for the hospital as a whole.

After evaluating each service offered to the company's commercial activities, all information technology services will be ranked according to their contribution to the production of value. Any service's contribution can be quantified in terms of the amount of value contributed to the business that can be attributed to that service.

Once all IT services have been ranked according to their contribution to value creation, the costs associated with sustaining these services must be determined.

After evaluating the expenses of each IT service, it will be possible to perform a cost-benefit analysis on each service. Cost-benefit analysis will reveal which services are cost-effective and which are not.

It will be possible to rank each service based on the net benefit each service has accrued.

It would not be prudent to continue providing these information technology services, which have provided negative net advantages, to the organization. Those services for which the net expenses of implementation and maintenance exceed the value provided by the services for the firm's activities will be stopped. In contrast, the services that have generated only minor net advantages will be reformed through the introduction of new hardware and software devices to ensure their continuation.

Numerous hardware and software gadgets that are more economical than their predecessors have been developed in recent years. The implementation of these devices will be effective enough to reduce the long-term costs of providing various information technology services. Therefore, even though their initial implementation appears to be a bit more costly, in the long run they will greatly save maintenance expenses. Therefore, in order to improve the cost-effectiveness of those services that are currently yielding a negligible net value due to their high costs, more technologically advanced and cost-effective hardware and software will be acquired.

It is crucial for the successful operation of any firm that all of its components operate in harmony. The company's existing IT services should not be at odds with its business strategy and objectives. If the business plans of a company do not justify the existence of any IT service, that service should be cancelled.

Consequently, another significant objective of the company is to stop all IT services whose presence cannot be justified by the stated objectives of the company and its business strategy pattern. It would be possible to minimize the total cost of the IT department if these services were discontinued, as the maintenance expenses of utilities, hardware and software devices, and people associated with these services would no longer be necessary (Peirson, Brown, Easton, Howard and Pinder, 2009).

Likewise, an emphasis should be focused on IT security services. Those security services that do not appear cost-effective will be discontinued. And marginally effective services will be reorganized by replacing outdated technology and software with more efficient and cost-effective alternatives.

Advantages to hospital

The hospital's approach is to invest in a proposal that can effectively and economically utilize the company's resources. The acquisition of software for filling patient records serves the majority of management goals, including the following:

increased hospital earnings

The correct completion of hospital records enhances the delivery of services to patients. Patients who visit the hospital within a day will be attended to expeditiously, enticing many to visit. This will result in a rise in the company's revenue. Additionally, if the current patient is encouraged to return to the hospital due to the improved treatments he or she has gotten, hospital revenues will increase.

Expense reduction

The implementation of the new software will allow the management to reduce the number of employees who performed manual labor in the filling department, hence decreasing labor expenses. Additionally, the cost of purchasing files and papers for filling will be eliminated. In addition, the space used for file storage will be repurposed for other useful medical activities.

Superior and enhanced services

Patients that visit the hospital will be served quickly due to the system's enhancements. Regular patients' records will be conveniently accessible for doctors' recommendations, which will improve therapy. The software will allocate each department's required records quickly and efficiently, decreasing the amount of time spent manually allocating the records (Helfert, 2001).

Quality control

The purchase of this software will ensure dependability and ease of use. Patients who have come before or who have had comparable problems will receive the correct prescription since any doctor who treats them will determine which medication to provide based on the patient's existing medical records. The hospital is evaluating whether it should proceed with the purchasing of the filing software as part of its efforts to enhance patient care.

The purpose of the hospital is to maximize shareholder wealth, and the net present value is the most effective technique for doing this. The net present value technique is a clear and easy-to-understand concept, but its application in practice may bring complications. Therefore, the following considerations must be observed while employing the net present value method: (Ross, Westerfield, and Jaffe, 2010).

Conclusion

As for the categories of services and facilities, budgets will decrease across the board, as several IT services with negative net benefits will be discontinued. On the other hand, in order to boost cost-effectiveness, new hardware and software will be introduced at headquarters and across all divisions.

The fact that the complete cost of installing new software has not been accounted for in the first year's budget must be mentioned. For the current budget, the whole cost of new hardware or software has been allocated over a five-year period using the straight-line depreciation technique. Under this strategy, the total value of new equipment investments is spread evenly over all years. It is believed that the lifespan of the new hardware or software will be five years. Consequently, the total investment value has been split evenly among the five years. In addition to these depreciation charges, additional costs must be accounted for in order to maintain the existing gear and software.

Reference List

R. Brealey, S. Myers, and A. Marcus (2007). Finance fundamentals for corporations. Sydney: McGraw-hill.

Helfert, A. (2001). A guide to financial analysis tools and procedures for managers. McGraw-Hill Professional, New York.

Peirson, G., R. Brown, S. Easton, P. Howard, and S. Pinder (2009). Business Economics. Sydney: Mc-Graw Hill.

Ross, S.A., Westerfield, R.W. & Jaffe, J. (2010). Corporate Finance, McGraw-Hill, New Delhi.

[supanova question]

Introduction

Capital expenditures for a business are those expenditures whose benefits will be realized or produced over an extended period. These capital expenditures may involve actual or intangible assets. Typically, when management decides to invest, their primary objective is to increase efficiency and profitability while reducing costs. In this instance, the capital expenditure is for a private hospital whose market circumstances are identical to those of the ideal market. The investment opportunity is the purchase of patient record filing software. In the past, the hospital has had lengthy lines, and even patient records were difficult to locate (Brealey, Myers and Marcus, 2007).

the project's benefits to management

Under escalating costs of maintenance of information technology services in the company, one of the greatest obstacles is taking effective measures for effective management of information technology in the company, as well as establishing proper coordination between information technology services and ongoing business activities. To achieve cost-effective information technology, the following objectives must be met.

Establishing a special office of technology in the hospital's headquarters, under the supervision of the chief information officer, for the purpose of implementing strategic planning to manage IT services in a cost-effective manner for the firm's businesses, is the first step necessary for the effective management of IT services.

Every service that the department of information technology provides to the enterprise as a whole must be thoroughly evaluated. The evaluation is important to determine the extent to which each service contributes to the production of value for the hospital as a whole.

After evaluating each service offered to the company's commercial activities, all information technology services will be ranked according to their contribution to the production of value. Any service's contribution can be quantified in terms of the amount of value contributed to the business that can be attributed to that service.

Once all IT services have been ranked according to their contribution to value creation, the costs associated with sustaining these services must be determined.

After evaluating the expenses of each IT service, it will be possible to perform a cost-benefit analysis on each service. Cost-benefit analysis will reveal which services are cost-effective and which are not.

It will be possible to rank each service based on the net benefit each service has accrued.

It would not be prudent to continue providing these information technology services, which have provided negative net advantages, to the organization. Those services for which the net expenses of implementation and maintenance exceed the value provided by the services for the firm's activities will be stopped. In contrast, the services that have generated only minor net advantages will be reformed through the introduction of new hardware and software devices to ensure their continuation.

Numerous hardware and software gadgets that are more economical than their predecessors have been developed in recent years. The implementation of these devices will be effective enough to reduce the long-term costs of providing various information technology services. Therefore, even though their initial implementation appears to be a bit more costly, in the long run they will greatly save maintenance expenses. Therefore, in order to improve the cost-effectiveness of those services that are currently yielding a negligible net value due to their high costs, more technologically advanced and cost-effective hardware and software will be acquired.

It is crucial for the successful operation of any firm that all of its components operate in harmony. The company's existing IT services should not be at odds with its business strategy and objectives. If the business plans of a company do not justify the existence of any IT service, that service should be cancelled.

Consequently, another significant objective of the company is to stop all IT services whose presence cannot be justified by the stated objectives of the company and its business strategy pattern. It would be possible to minimize the total cost of the IT department if these services were discontinued, as the maintenance expenses of utilities, hardware and software devices, and people associated with these services would no longer be necessary (Peirson, Brown, Easton, Howard and Pinder, 2009).

Likewise, an emphasis should be focused on IT security services. Those security services that do not appear cost-effective will be discontinued. And marginally effective services will be reorganized by replacing outdated technology and software with more efficient and cost-effective alternatives.

Advantages to hospital

The hospital's approach is to invest in a proposal that can effectively and economically utilize the company's resources. The acquisition of software for filling patient records serves the majority of management goals, including the following:

increased hospital earnings

The correct completion of hospital records enhances the delivery of services to patients. Patients who visit the hospital within a day will be attended to expeditiously, enticing many to visit. This will result in a rise in the company's revenue. Additionally, if the current patient is encouraged to return to the hospital due to the improved treatments he or she has gotten, hospital revenues will increase.

Expense reduction

The implementation of the new software will allow the management to reduce the number of employees who performed manual labor in the filling department, hence decreasing labor expenses. Additionally, the cost of purchasing files and papers for filling will be eliminated. In addition, the space used for file storage will be repurposed for other useful medical activities.

Superior and enhanced services

Patients that visit the hospital will be served quickly due to the system's enhancements. Regular patients' records will be conveniently accessible for doctors' recommendations, which will improve therapy. The software will allocate each department's required records quickly and efficiently, decreasing the amount of time spent manually allocating the records (Helfert, 2001).

Quality control

The purchase of this software will ensure dependability and ease of use. Patients who have come before or who have had comparable problems will receive the correct prescription since any doctor who treats them will determine which medication to provide based on the patient's existing medical records. The hospital is evaluating whether it should proceed with the purchasing of the filing software as part of its efforts to enhance patient care.

The purpose of the hospital is to maximize shareholder wealth, and the net present value is the most effective technique for doing this. The net present value technique is a clear and easy-to-understand concept, but its application in practice may bring complications. Therefore, the following considerations must be observed while employing the net present value method: (Ross, Westerfield, and Jaffe, 2010).

Conclusion

As for the categories of services and facilities, budgets will decrease across the board, as several IT services with negative net benefits will be discontinued. On the other hand, in order to boost cost-effectiveness, new hardware and software will be introduced at headquarters and across all divisions.

The fact that the complete cost of installing new software has not been accounted for in the first year's budget must be mentioned. For the current budget, the whole cost of new hardware or software has been allocated over a five-year period using the straight-line depreciation technique. Under this strategy, the total value of new equipment investments is spread evenly over all years. It is believed that the lifespan of the new hardware or software will be five years. Consequently, the total investment value has been split evenly among the five years. In addition to these depreciation charges, additional costs must be accounted for in order to maintain the existing gear and software.

Bibliography

R. Brealey, S. Myers, and A. Marcus (2007). Finance fundamentals for corporations. Sydney: McGraw-hill.

Helfert, A. (2001). A guide to financial analysis tools and procedures for managers. McGraw-Hill Professional, New York.

Peirson, G., R. Brown, S. Easton, P. Howard, and S. Pinder (2009). Business Economics. Sydney: Mc-Graw Hill.

Ross, S.A., Westerfield, R.W. & Jaffe, J. (2010). Corporate Finance, McGraw-Hill, New Delhi.

[supanova question]

Blackshop Restaurant IT Governance: Case Study College Essay Help Los Angeles

Introduction

In all areas of human endeavor, the modern world is dominated by technical advancement. In business, technological advancements are especially significant since, in today's increasingly competitive marketplaces, technology and information processing systems have become organizations' primary competitive advantages. In addition, the transformation of any organization to a modern information technology operation entails substantial expenditures for technological modernization and training of people on the new IT systems' performance.

The restaurant business is also affected by global modernization projects, which might have varying consequences on their implementation in each country. Therefore, a detailed analysis is necessary for the process of implementing current IT solutions in restaurant businesses before the companies' actual performance is dependent solely on these IT products.

Situation context

This is the situation with Blackshop Restaurant, which intends to deploy the OpenTable reservation management software. Blackshop Restaurant is a Cerny Hospitality Group establishment (CHG). It was formed in 1983 (Moolani and Peng, 2009, p1, paragraph 2) as a family-owned business that swiftly grew into a big restaurant facility with established relationships with firms such as Toyota, Hilton, Com-Dev, Radisson, and others (Moolani and Peng, 2009, p3, paragraph 3).

The management of Blackshop Restaurant, which receives 50 to 300 visitors daily, depending on the day of the week and whether or not it is a weekend, feels the need to update the table reservation system, which currently consists of writing down reservation requests on paper and further planning of turning the tables (Moolani and Peng, 2009, p4, paragraph 3,4). On the one hand, according to the software for table reservations, restaurant attendance will increase. In contrast, the management of Blackshop Restaurant associates certain organizational challenges with OpenTable deployment.

Applying Case and IT Management Theory

Governance Mechanisms for IT

Prior to evaluating the suitability and possible benefits of OpenTable implementation for Blackshop Restaurant, it is essential to note that the contract with the OpenTable manufacturer will provide new IT governance mechanisms for usage by the restaurant. The appointed reservation managers must run the OpenTable touch-screen monitor computer and a telephone station to receive and enter reservation requests into the database (Moolani and Peng, 2009, p6, paragraph 3).

In addition, the restaurant must permanently amend the online reservation requests for Blackshop tables made through the OpenTable website reservation option (Moolani and Peng, 2009, p6, paragraph 3). In addition, it will be necessary to incorporate monitor supervision into IT governance processes, i.e. the management of reservation calls while the manager is escorting guests to their tables (Moolani and Peng, 2009, p7, paragraph 1).

Implications of IT for Restaurant Management at Blackshop

Obviously, the installation of OpenTable will have repercussions for restaurant management at Blackshop. The significance of management in any organizational transformation is significant. Chew, Cheng, and Petrovic-Lazarevic (2006) contend that "managers as change agents are expected to actively restore or reinforce the new system with all employees" (p60, paragraph 1). This very refreezing stage represents the company's process of adapting to the innovation. The installation of OpenTable will have two significant managerial ramifications for Blackshop Restaurant.

Managers will initially have to adapt their work to the OpenTable software. The performance of the waiter and kitchen personnel should also be monitored during the OpenTable implementation process. The measurement of OpenTable's efficacy will also be a management responsibility, as Pearlson and Saunders (2009) assert that success measurement is essential for information technology management in an organization (p87, paragraph 4). Therefore, the management of Blackshop Restaurant will experience the most significant repercussions of OpenTable's adoption, such as the introduction of new IT governance procedures and the need to monitor and occasionally enhance the restaurant's performance under the new reservation system.

Zero Time Organization

In addition, one of the greatest benefits the OpenTable software may bring to Blackshop Restaurant is the restaurant’s ability to adapt the so-called zero time organization, i.e. instant “customization” or organizational flexibility developed to the extent that enables this organization to respond immediately to customers’ needs (Pearlson and Saunders, 2009, p92, paragraph 4). This adaptability is especially vital in the restaurant industry, as firm and customers communicate directly. In addition, the Australian backdrop of increasing government financing and tax breaks for the restaurant business, as suggested by Ryan (2007), and the implementation of new restaurant tariffs, according to Fact Sheet (2009), gives the zero time organization greater significance.

In order for Blackshop Restaurant to achieve zero-time organization, it need an easily accessible and comprehensive customer record and table reservation system. OpenTable, according to Moolani and Peng (2009), allows the organization to establish the secure reservation system and increase the organization's customer recognition practices (p5, paragraph 4), and facilitates the development of the five major elements of zero-time organization, which Pearlson and Saunders (2009) argue are instant value alignment, instant learning, instant involvement, instant adaptation, and instant executory.

Strategic Alignment Model of Henderson and Venkatram Applied to Blackshop Restaurant Case Study

The so-called Henderson-Venkatram Strategic Alignment Model, which serves as a tool for a comprehensive and comparative analysis of the overall organizational and IT goals of the same organization, is one of the best instruments for evaluating the applicability and financial suitability of OpenTable software for Blackshop Restaurant (Henderson and Venkatram, 1992, p33, paragraph 2). The four key tiers of the Henderson-Venkatram Strategic Alignment Model are business strategy, IT strategy, business infrastructure and processes, and IT infrastructure and procedures. The business and IT levels are compared to determine whether or not alignment is required between them. Only if IT strategy and business strategy are aligned will IT advancements benefit the entire firm (Henderson and Venkatram, 1992, p33, paragraph 3).

Blackshop Restaurant is likely to have the necessary alignment, as the organization's business plan aims to raise the restaurant's daily attendance numbers, overall profitability, and competitive advantage (Moolani and Peng, 2009, p6, paragraph 4). In the form of an improved reservation and client recognition system, the restaurant's IT plan will help it reach its business strategy goals. Blackshop Restaurant seeks to conclude a strategic arrangement with OpenTable for the use of their software and expand the restaurant's performance choices through OpenTable's online reservation prospects. The governance mechanisms created for this purpose are similarly aligned.

IT Will Resolve Blackshop Restaurant Issues

In addition, OpenTable is expected to resolve the majority of Blackshop Restaurant's issues, particularly in the IT domain. According to Moolani and Peng (2009), the Blackshop Restaurant does not currently have an IT department because reservations are made on paper. This technique is time-consuming and can frequently result in operational problems throughout the workdays at Blackshop Restaurant (Moolani and Peng, 2009, p6, paragraph 4). Therefore, OpenTable could be the instrument to reduce the time and effort spent on reservation procedures and operational concerns such as client bottlenecks near the kitchen and bar. In addition, OpenTable could help Blackshop Restaurant's initiative (Moolani and Peng, 2009, p. 6, par. 5) to create relationships and contacts with hotels and other organizations across industries.

Financial Concerns

Finally, the adoption of the IT system causes Blackshop Restaurant budgetary issues. It is also crucial to note that funding an IT innovation is always a challenge for businesses due to the underestimation of the importance of the IT industry. Pearlson and Saunders (2009), however, identify chargeback, allocation, and corporate budget as the three key IT funding strategies (p279, paragraph 1).

As a result of the restaurant's reputation for treating its employees with respect and care, the corporate budget funding technique is the most appropriate way for recovering IT costs. According to Pearlson and Saunders (2009), the corporate budget presupposes supporting the IT development from the company's overall assets (p281, par. 2), whereas chargeback and allocation are similar methods for distributing the financial responsibility among the company's personnel (p279, paragraph 2, p280, paragraph 3). Therefore, the corporate budget funding technique is suggested for Blackshop Restaurant.

Conclusions

Therefore, the conclusion of this report is that Blackshop Restaurant should utilize OpenTable. This judgment is supported by the prospective benefits of the software deployment and its capacity to resolve Blackshop Restaurant's long-term issues. OpenTable is purportedly the time- and labor-saving tool that enables the company to apply the zero-time organization approach, so that Blackshop Restaurant can promptly meet its customers' needs. Lastly, the Henderson-Venkatram Strategic Alignment Model necessitates that the business and IT strategies of the organization be aligned for successful IT innovation, and the Blackshop Restaurant overview allows for the assumption that this organization possesses the required level of alignment and can successfully implement OpenTable software.

Bibliography

Managers' Role in Implementing Organizational Change: Case of The Restaurant Industry in Melbourne. Chew, M., J. Cheng, and S. Petrovic-Lazarevic. Global Business and Technology Journal, 2(1), 58-67.

Review of the restaurant and cafe industry's tariffs. PPCA. [online] Australia's restaurants and caterers on the web.

Strategic Alignment: A model for organizational transformation through information technology. Transforming Organizations, edited by T. Kochan and M. Unseem, Oxford University Press, New York, pages 32 to 35.

Moolani, K. A., and M. Peng, "Blackshop Restaurant," Ivey Management Services, 2009.

Pearlson, K., and C. Saunders (2009) published Managing and Using Information Systems. Wiley.

Hospitality Magazine Australia. Web. Ryan, R. (2007). Restaurant Industry Lauds Budget Tourism, Tax, and Training News.

[supanova question]

Procter & Gamble Company’s Production Management Process College Essay Help Los Angeles

Weaknesses of P&G's Product Life Cycle (PLC)

A review of the company's PLC will reveal that the business is currently in its maturity phase. The majority of the company's brands are now well-established on the global market, as a result of a powerful introduction in 1947 and subsequent gradual expansion, notably in the 2000s. Although the decline stage is still to be anticipated, a closer study at P&G's current PLC will reveal that it has multiple issues.

On the one hand, the emphasis on the R&D function of the corporation can be seen as a beneficial development. Nonetheless, the lack of passion for the design and launch of new brands is an issue. On the one hand, active promotion of entrepreneurship is no longer necessary because it has already established a substantial presence in the target environment. On the other side, a lack of emphasis on the design of new products may cause the entrepreneur to be overtaken by other companies with the potential to become dominant in the target environment (P&G names top suppliers, 2008).

Another clear flaw in the current architecture of the company's PLC is that it permits other entrants to be successful in the target market, so jeopardizing the company's recent position as the leading organization in the global economy. Lastly, it must be stated that entrepreneurship does not seek to relaunch any of its older brands or offer a new product that may take the market by storm and help it keep its maturity stage for a bit longer.

Industrial Design

The brand product that will restore the company's former popularity should be founded on the principles of environmentalism and sustainability. Customers are compelled to pay great attention to the new product and its features, given the relevance of environmentalist ideas in modern society. Therefore, P&G should promote its environmental consciousness and the benefits that products derived from natural elements can provide to consumers.

Strategies

To strengthen the position of entrepreneurship in the target market, business executives might consider placing a greater emphasis on R&D. Thus, fresh products that will again enthrall clients can be designed. The importance of advertising and a robust promotional campaign may be viewed as a further concept that should be regarded as crucial in the global economy. Finally, it may be proposed that the company implement the notion of sustainability and lean management in order to decrease waste and save enough money for worldwide expansion.

Supply Chain Administration (SCM)

At first look, P&G's SCM strategy does not differ fundamentally from those employed by other firms. It covers the essential aspects that every company needs to prosper in the global market (i.e., suppliers (Cly-Del Manufacturing, Co.

A second look at the foundation will reveal, however, that the company's strategy is significantly more sophisticated. Specifically, the discovery of the bullwhip effect and its implication that "orders to the supplier tend to have a larger variance than sales to the buyer (i.e. demand distortion), and the distortion propagates upstream in an amplified form (i.e. variance amplification)" (Skaksen, 2011, p. 3) must be cited as one of the greatest achievements of company marketers in the field of customer behavior and supply chain functioning.

Total Quality Administration (TQM)

To increase the performance of P&G, one should consider implementing a TQM methodology. P&G must prioritize customer-centricity. Although the current customer communication challenges cannot be considered as detrimental to the firm's success, a better understanding of the wants of prospective clients should be encouraged as a means of expanding the enterprise's profit margins.

Customer Service

A more comprehensive examination of the target market must be conducted. For example, sophisticated consumer segmentation should be considered. In addition to focusing on gender and age, it will be vital to target people from various cultural backgrounds. Additionally, individuals with varying salaries will need to be considered. To be more precise, the premium product line should be launched to the market alongside its less expensive alternatives and the "golden mean" for people with typical incomes.

Planning

In turn, the planning process must incorporate a more efficient time management strategy. To design the company's future course of action, customer-centric values will also need to be implemented.

Process Administration

The production process, as well as all other acts carried out in the company's environment, will need to be closely monitored, with regular reporting on the performance of the participants. Consequently, a rapid improvement in quality is anticipated.

Process Improvement

After P&G replenishes its inventory, the procedure will be improved. It is essential to acquire the most recent technical breakthroughs in order to improve the production process and reduce the amount of defects. Once Lean Manufacturing is implemented to eliminate waste and utilize resources sustainably, the company will be able to withstand the costs.

Process Participation

As previously mentioned, it will be vital to ensure that all corporate members participate in the process. With the aid of financial incentives and public acknowledgement of the staff's performance, the excitement levels must be enhanced.

TQM Device

As previously stated, it is crucial to focus on the quality of P&G's products right now. A cause and effect diagram should be utilized for this purpose (Amasaka, 2014). Given that entrepreneurship is influenced by a range of circumstances and must learn to navigate in the complicated environment of the global economy, it must be able to detect the effects of each component.

Just-In-Time Architecture (JIT)

Advantages

The JIT framework will assist P&G in reducing inventory costs (Hansen & Mowen, 2014), which is vital for the company as it must address sustainable resource utilization. In addition, the production process is divided into short steps, allowing managers to identify each and every problem that may arise during the process. In addition to aiding in the reduction of producer surplus rates, the strategy also contributes to the promotion of lean economy as the company's operational foundation.

Influence on Quality

JIT will also drastically affect quality. For example, as previously said, JIT aids to waste reduction. In other words, the number of defective products will inevitably decrease. In addition, the JIT technique reduces the waiting time between project completion stages. Lastly, JIT reduces costs, providing for a larger budget and, consequently, a chance to increase the company's quality rates (Kaynak, 2013).

Forecasting

Qualitative Tool

When defining the proper qualitative method for forecasting, market research must be credited. Numerous firms have utilized the aforementioned approach of predicting for a considerable length of time; thus, it may be considered a tried-and-true technique.

Table 1: Characteristics of Operation

Operational Attributes

Problem Definition The essential objectives have been identified.

Research Method The method for conducting the investigation is discovered.

Research Procedure The strategy for tackling the topic is identified.

Method for Collecting Data The data collection tools are selected.

Research Plan The research design is described.

Sample Design The sampling methods and sample size are determined.

Data Gathering The data are collected.

Evaluation and Analysis The information is examined and evaluated.

Reporting The study's repercussions are listed and made accessible to the organization's members.

Marketing research is an effective method for gathering information about the opportunities a firm is most likely to encounter in a given environment. Possibilities for conducting in-depth study and identifying a variety of information that could be used to successfully attract the intended audience should be highlighted.

Unfortunately, market research also has its drawbacks, with the usage of time and money being the key sources of concern. Additionally, it will be impossible to consider every factor and identify all potential clients. Consequently, the results of the forecast are likely to be quite approximative.

Quantitative Tool

The Time Series technique, on the other hand, is a useful tool for recognizing trends in P&G's performance so that a prediction may be made in the future.

Table 2: Characteristics of Operations

Operational Attributes

Trend data identification Isolate the peculiarities of the existing data.

Seasonal data identification The data sets' tendencies are identified.

Cyclic data identification The information that is repeated is identified.

In turn, the Time Series architecture for a comprehensive study of the company's performance trends. It provides the means for pinpointing with great precision the potential outcomes of the marketing campaign. There is also a possibility that the data is contaminated, although the likelihood of detecting this is quite low. Lastly, the general uncertainty of the statistical information retrieved as a result of the study is one of the most significant issues with the Time Series methodology.

Given that P&G is currently in the PLC stage, choosing the right path for future development is a difficult task; however, the incorporation of the TQM approach and the principles of lean manufacturing into its framework will help it create a viable marketing strategy and design the brand product that will make it popular once again. While the aforementioned tactics cannot be regarded an end in themselves, they do provide P&G with a solid platform for regaining its position in the target market.

Bibliography

Amasaka, K. (2014). New JIT, new technology management principle. CRC Press is based in New York.

Djokov, G. (2014). The economics of competition: the pursuit of monopolization. Routledge, New York, NY

Hansen, D. R., & Mowen, M. M. (2014). The pillars of cost management. Boston, Massachusetts: Cengage Learning.

Kaynak, H. (2013). The implications of Total Quality Management and Just-in-Time purchasing on the performance of U.S.-based businesses. New York, NY: Routledge.

P&G identifies leading suppliers. (2008). Web.

Skaksen, L. (2011). Bullwhip – Forrester effect: The causes of bullwhip – Forrester effect. Berlin: GRIN Verlag.

[supanova question]

Information Management Software In Business Areas College Essay Help Los Angeles

Software for supply chain management
Motives for a competent SCM system

A company might implement an excellent supply chain management (SCM) system due to a variety of reasons. The commitment of top management, a focus on the organization's core competencies, a long-term vision, the formulation of a strategic SCM strategy, and the allocation of sufficient resources to the supply chain are the primary drivers of an effective SCM system. Supply chain organization, corporate strategy, performance metrics, process management, and information and technology are the components of an effective SCM system (Sedera & Wang, 2009).

Supply Chain Administration (SCM)

SCM involves monitoring the flow of materials, finances, and data from the supplier to the producer, to the wholesaler, to the retailer, and finally to the consumer. Planning software and execution software are the two primary forms of software that strive to increase SCM efficiency. The former improves ordering procedures, whilst the latter checks the physical condition of all materials, items, and information pertaining to all stakeholders (Sedera & Wang, 2009).

Motives for SCM

Facilities, transportation, inventory, and information contribute to the effectiveness of the SCM system's drivers. These parameters significantly affect the responsiveness of the SCM system in a number of ways. The responsiveness of the SCM system is significantly impacted by modes of transportation that are quick and adaptable. Increasing the effectiveness of an organization's SCM system by maintaining high inventory levels in several locations for an assortment of products and services (Hendricks, Singhal, & Stratman, 2007).

Principal Components of e-SCM

Integrating important components into the design of e-SCM processes improves their functionality. Replenishment systems, e-procurement, collaborative planning, e-logistics, supply webs, and collaborative design and product development are the key components (Stein & Smith, 2009).

E-procurement or supplier exchange involves the incorporation of the Internet or an organization's intranet for the procurement of goods and services necessary for conducting company operations. In addition, e-procurement includes business-to-business buying operations and the Internet sale of services and products (Hendricks et al., 2007).

Components and Advantages of SCM Integration

In integrating SCM systems, two dimensions are considered: information integration and synchronized planning. Information integration entails elements such as real-time and direct accessibility, information sharing, and transparency. The advantages of the aspects of information integration include the elimination of the bullwhip effect, early problem discovery, the development of trust, and faster response times (Hendricks et al., 2007).

The primary elements of SCM integration in the synchronized planning dimension are cooperative design, collaborative forecasting, planning, and replenishment. In addition to maximizing capacity utilization, cost reduction, and service enhancement, these features also promote the decrease of the bullwhip effect, which is advantageous to the company.

Customer relations administration

Function of CRM

Customer relationship management (CRM) supports the collection of data necessary for customer service management decision-making. CRM guarantees that a company resolves challenges that impact the delivery of great customer services (Stein & Smith, 2009). Thus, CRM contributes to the enhancement of a company's competitive advantage by building an image that is appealing to customers through the delivery of superior customer service.

In contrast to the 1980s, CRM now incorporates modern technologies to collect data regarding client difficulties. Additionally, businesses adopt automated sales, individualized marketing, and personalized customer service (Stein & Smith, 2009).

Major CRM kinds and components

Operational CRM, Analytical CRM, and Collaborative CRM are the primary CRM types. Operational CRM helps organizational processes such as sales, marketing, and customer service. Analytical CRM is concerned with the collecting and analysis of pertinent data that can be used to improve customer relationships. Collaborative CRM emphasizes the interaction between the business and the client. Market research, sales force automation (SFA), customer care assistance, and data mining and analytics are the key CRM components.

Customer relationship management processes

Throughout the duration of the connection, the customer relationship processes entail the collection and management of client needs, behavior, and motives. The use of customer experiences to strengthen the relationship is also a component of the process. In addition, the processes incorporate an evaluation of customer experiences by integrating customer service, marketing, and sales. A hosted CRM occurs when a company outsources some or all of its CRM functions to an application service provider (ASP) (Hendricks et al., 2007).

An analysis of a CRM system

In my bank, the CRM strategy includes a number of key functions. Lead management, account management, contact management, and customer service are the core CRM functions. However, the bank lacks the functional aspects of CRM, such as the usage of customer communication tools and the administration of marketing campaigns.

The SAP ERP system

Integration of enterprise planning systems is essential for optimizing business processes and increasing a company's competitiveness. SAP, a German company, has a reputation as one of the companies that offer successful ERP solutions. SAP's ERP systems encompass operations management, financial management, and human resource management. SAP's enterprise resource planning (ERP) systems for operations concentrate primarily on materials management, sales and distribution, logistics execution, product planning, and quality management. Management accounting, financial accounting, and financial supply chain management are the focal points of the financial portions of the SAP ERP systems. The human capital management aspects of SAP ERP's systems include of its payroll and e-recruitment apps (Magal & Word, 2011).

The SAP ERP operation models

The logistics and manufacturing module (SAP SD) of SAP's enterprise resource planning (ERP) covers the activities of a business. It examines the procedures involved in selling and delivering goods and services to consumers and business partners in this instance. The master data provides SAP SD with information regarding consumers and products, hence facilitating the development of plans that enhance an organization's competitiveness. SAP SD is designed to streamline operations in areas such as sales assistance, shipping, sales information systems, logistic execution, and billing (Magal & Word, 2011).

Material management (SAP MM), production planning (SAP PP), plant maintenance (SAP PM), quality management (SAP QM), and project system are the SAP SD models (SAP PS). SAP MM involves the classification of management functions that support the entire material flow cycle, beginning with the procurement and local control of manufacturing inputs and ending with product distribution.

SAP PP entails the supporting standards for the overall standard of manufacturing items to meet production sales, profitability, and customer lead times. SAP PM facilitates the planning, processing, and fulfillment of factory maintenance activities. In addition, SAP QM enhances the business's quality inspection capabilities, including research, purchasing, and sales. The model enables buyers and industry staff to track inspection lots and test results. SAP PS aids in the planning, management, and cost estimation of R&D efforts.

Financial models of the SAP ERP system.

SAP ERP financial systems are designed for external management and automated accounts payable (AP), general ledger (GL), accounts receivable (AR), and asset management (AM) administration (AM). In addition, the financial systems include user account charts to improve the ERP's monitoring and evaluation capabilities (Magal & Word, 2011).

The linked models for the financial management element of SAP ERP consist of numerous modules that enhance the system's capabilities. Models consist of asset accounting (SAP AA), controlling (SAP CO), treasury (SAP TR), and capital investment management (SAP IM).

The asset accounting model enables the provision of instruments for acquiring, depreciating, evaluating, operating, and retiring assets. This lesson focuses on low-value, fixed, real estate, and leased types of assets. This SAP module's objective is to ensure that depreciated assets are purchased and aggregated as the master record for unit assets. Since financial management needed the appraisal of deteriorating assets, the SAP AA guaranteed that this was accomplished in a variety of methods (Magal & Word, 2011).

The SAP CO component of the financial ERP system monitors the organization's cash flow in order to control its financial patterns. The controlling module's objective is to increase the management's efficiency by boosting the availability of reports about contribution margins, profit centers, cost centers, and profitability. In addition to accounting processing, the SAP CO encompasses audit control and analytical reporting.

In addition, SAP's Treasury ERP focuses on the administration of cash budgets, loans, treasury, and funds. In addition, the capital investment management module is utilized for budget planning and monitoring.

The SAP ERP human capital management models

SAP offers a variety of modules that aim to establish plans and procedures that ensure optimal labor productivity. In this approach, the vendor created a number of modules associated with the human resource element. Personnel administration (PA), personnel planning and development (PD), and organizational management (OM) are the components (Magal & Word, 2011).

PA focuses on the efficient administration of personnel, the handling of application concerns, the provision of incentives, and the payment of wages (Magal & Word, 2011). In addition, PA seeks to achieve efficient management of payroll, time management, and travel expenses.

The PD model of SAP's EPR financial systems relates to workforce planning and organization management. The model includes room reservation planning, seminar and convention management, benefits, personal expense, time management, compensation management, and event planning.

References

Hendricks, K. B., Singhal, V. R., & Stratman, J. K. (2007). A study of ERP, SCM, and CRM system implementations analyzing the effect of enterprise systems on business performance. 25(1), 65-82, Journal of Operations Management.

Magal, S. R., and J. Word (2011). Integrate ERP systems with business operations. Hoboken, New Jersey: Wiley Publications.

Sedera, D., & Wang, W. (2009). Towards a Model for Measuring the Benefits of CRM and SCM. ICIS Proceedings for 2009. Web.

Stein, A., & Smith, M. (2009). A study of the relationship between CRM effectiveness and the customer information orientation of the firm in industrial markets. Industrial Marketing Management, 38(2), 198-206

[supanova question]

Information Management Software In Business Areas College Essay Help Los Angeles

Software for supply chain management
Motives for a competent SCM system

A company might implement an excellent supply chain management (SCM) system due to a variety of reasons. The commitment of top management, a focus on the organization's core competencies, a long-term vision, the formulation of a strategic SCM strategy, and the allocation of sufficient resources to the supply chain are the primary drivers of an effective SCM system. Supply chain organization, corporate strategy, performance metrics, process management, and information and technology are the components of an effective SCM system (Sedera & Wang, 2009).

Supply Chain Administration (SCM)

SCM involves monitoring the flow of materials, finances, and data from the supplier to the producer, to the wholesaler, to the retailer, and finally to the consumer. Planning software and execution software are the two primary forms of software that strive to increase SCM efficiency. The former improves ordering procedures, whilst the latter checks the physical condition of all materials, items, and information pertaining to all stakeholders (Sedera & Wang, 2009).

Motives for SCM

Facilities, transportation, inventory, and information contribute to the effectiveness of the SCM system's drivers. These parameters significantly affect the responsiveness of the SCM system in a number of ways. The responsiveness of the SCM system is significantly impacted by modes of transportation that are quick and adaptable. Increasing the effectiveness of an organization's SCM system by maintaining high inventory levels in several locations for an assortment of products and services (Hendricks, Singhal, & Stratman, 2007).

Principal Components of e-SCM

Integrating important components into the design of e-SCM processes improves their functionality. Replenishment systems, e-procurement, collaborative planning, e-logistics, supply webs, and collaborative design and product development are the key components (Stein & Smith, 2009).

E-procurement or supplier exchange involves the incorporation of the Internet or an organization's intranet for the procurement of goods and services necessary for conducting company operations. In addition, e-procurement includes business-to-business buying operations and the Internet sale of services and products (Hendricks et al., 2007).

Components and Advantages of SCM Integration

In integrating SCM systems, two dimensions are considered: information integration and synchronized planning. Information integration entails elements such as real-time and direct accessibility, information sharing, and transparency. The advantages of the aspects of information integration include the elimination of the bullwhip effect, early problem discovery, the development of trust, and faster response times (Hendricks et al., 2007).

The primary elements of SCM integration in the synchronized planning dimension are cooperative design, collaborative forecasting, planning, and replenishment. In addition to maximizing capacity utilization, cost reduction, and service enhancement, these features also promote the decrease of the bullwhip effect, which is advantageous to the company.

Customer relations administration

Function of CRM

Customer relationship management (CRM) supports the collection of data necessary for customer service management decision-making. CRM guarantees that a company resolves challenges that impact the delivery of great customer services (Stein & Smith, 2009). Thus, CRM contributes to the enhancement of a company's competitive advantage by building an image that is appealing to customers through the delivery of superior customer service.

In contrast to the 1980s, CRM now incorporates modern technologies to collect data regarding client difficulties. Additionally, businesses adopt automated sales, individualized marketing, and personalized customer service (Stein & Smith, 2009).

Major CRM kinds and components

Operational CRM, Analytical CRM, and Collaborative CRM are the primary CRM types. Operational CRM helps organizational processes such as sales, marketing, and customer service. Analytical CRM is concerned with the collecting and analysis of pertinent data that can be used to improve customer relationships. Collaborative CRM emphasizes the interaction between the business and the client. Market research, sales force automation (SFA), customer care assistance, and data mining and analytics are the key CRM components.

Customer relationship management processes

Throughout the duration of the connection, the customer relationship processes entail the collection and management of client needs, behavior, and motives. The use of customer experiences to strengthen the relationship is also a component of the process. In addition, the processes incorporate an evaluation of customer experiences by integrating customer service, marketing, and sales. A hosted CRM occurs when a company outsources some or all of its CRM functions to an application service provider (ASP) (Hendricks et al., 2007).

An analysis of a CRM system

In my bank, the CRM strategy includes a number of key functions. Lead management, account management, contact management, and customer service are the core CRM functions. However, the bank lacks the functional aspects of CRM, such as the usage of customer communication tools and the administration of marketing campaigns.

The SAP ERP system

Integration of enterprise planning systems is essential for optimizing business processes and increasing a company's competitiveness. SAP, a German company, has a reputation as one of the companies that offer successful ERP solutions. SAP's ERP systems encompass operations management, financial management, and human resource management. SAP's enterprise resource planning (ERP) systems for operations concentrate primarily on materials management, sales and distribution, logistics execution, product planning, and quality management. Management accounting, financial accounting, and financial supply chain management are the focal points of the financial portions of the SAP ERP systems. The human capital management aspects of SAP ERP's systems include of its payroll and e-recruitment apps (Magal & Word, 2011).

The SAP ERP operation models

The logistics and manufacturing module (SAP SD) of SAP's enterprise resource planning (ERP) covers the activities of a business. It examines the procedures involved in selling and delivering goods and services to consumers and business partners in this instance. The master data provides SAP SD with information regarding consumers and products, hence facilitating the development of plans that enhance an organization's competitiveness. SAP SD is designed to streamline operations in areas such as sales assistance, shipping, sales information systems, logistic execution, and billing (Magal & Word, 2011).

Material management (SAP MM), production planning (SAP PP), plant maintenance (SAP PM), quality management (SAP QM), and project system are the SAP SD models (SAP PS). SAP MM involves the classification of management functions that support the entire material flow cycle, beginning with the procurement and local control of manufacturing inputs and ending with product distribution.

SAP PP entails the supporting standards for the overall standard of manufacturing items to meet production sales, profitability, and customer lead times. SAP PM facilitates the planning, processing, and fulfillment of factory maintenance activities. In addition, SAP QM enhances the business's quality inspection capabilities, including research, purchasing, and sales. The model enables buyers and industry staff to track inspection lots and test results. SAP PS aids in the planning, management, and cost estimation of R&D efforts.

Financial models of the SAP ERP system.

SAP ERP financial systems are designed for external management and automated accounts payable (AP), general ledger (GL), accounts receivable (AR), and asset management (AM) administration (AM). In addition, the financial systems include user account charts to improve the ERP's monitoring and evaluation capabilities (Magal & Word, 2011).

The linked models for the financial management element of SAP ERP consist of numerous modules that enhance the system's capabilities. Models consist of asset accounting (SAP AA), controlling (SAP CO), treasury (SAP TR), and capital investment management (SAP IM).

The asset accounting model enables the provision of instruments for acquiring, depreciating, evaluating, operating, and retiring assets. This lesson focuses on low-value, fixed, real estate, and leased types of assets. This SAP module's objective is to ensure that depreciated assets are purchased and aggregated as the master record for unit assets. Since financial management needed the appraisal of deteriorating assets, the SAP AA guaranteed that this was accomplished in a variety of methods (Magal & Word, 2011).

The SAP CO component of the financial ERP system monitors the organization's cash flow in order to control its financial patterns. The controlling module's objective is to increase the management's efficiency by boosting the availability of reports about contribution margins, profit centers, cost centers, and profitability. In addition to accounting processing, the SAP CO encompasses audit control and analytical reporting.

In addition, SAP's Treasury ERP focuses on the administration of cash budgets, loans, treasury, and funds. In addition, the capital investment management module is utilized for budget planning and monitoring.

The SAP ERP human capital management models

SAP offers a variety of modules that aim to establish plans and procedures that ensure optimal labor productivity. In this approach, the vendor created a number of modules associated with the human resource element. Personnel administration (PA), personnel planning and development (PD), and organizational management (OM) are the components (Magal & Word, 2011).

PA focuses on the efficient administration of personnel, the handling of application concerns, the provision of incentives, and the payment of wages (Magal & Word, 2011). In addition, PA seeks to achieve efficient management of payroll, time management, and travel expenses.

The PD model of SAP's EPR financial systems relates to workforce planning and organization management. The model includes room reservation planning, seminar and convention management, benefits, personal expense, time management, compensation management, and event planning.

References

Hendricks, K. B., Singhal, V. R., & Stratman, J. K. (2007). A study of ERP, SCM, and CRM system implementations analyzing the effect of enterprise systems on business performance. 25(1), 65-82, Journal of Operations Management.

Magal, S. R., and J. Word (2011). Integrate ERP systems with business operations. Hoboken, New Jersey: Wiley Publications.

Sedera, D., & Wang, W. (2009). Towards a Model for Measuring the Benefits of CRM and SCM. ICIS Proceedings for 2009. Web.

Stein, A., & Smith, M. (2009). A study of the relationship between CRM effectiveness and the customer information orientation of the firm in industrial markets. Industrial Marketing Management, 38(2), 198-206

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Walmart Corporation’s Strategic Planning College Essay Help Los Angeles

Introduction

Strategic planning enables organizations to organize their resources and achieve particular objectives and goals. To remain competitive, organizations in the unpredictable retail business, such as Walmart, require an effective strategic strategy. The development of a strategic plan necessitates an analysis of the internal and external surroundings of international organizations. In this perspective, the purpose of this paper is to create a strategy plan that reflects Walmart's growth and performance over the next five to ten years by describing Walmart's status in remote, industrial, and operating settings.

Remote Environment

Walmart's internationalization exposes the company to a variety of business situations. The ecological, political, social, and technological elements of the firm's remote environment influence the industry's activities and the company's decision-making capacities. The population features and business rules of host nations have a considerable impact on the profitability and performance of a corporation (Hardaker, 2018).

Changes in lifestyle, a shift in age distribution, and population increase influence market characteristics. These social developments have favorably contributed to the establishment and stabilization of online retailers as leading venues for business transactions, which impacts Walmart's product and service performance.

Tax programs, minimum wage legislation, environmental policies, and political instability are the political elements that influence Walmart's corporate operations. Legal and regulatory limitations imposed by countries and trading blocs in which the organization works impact its performance and market viability (Hardaker, 2018). The Chinese and Indian governments' rules requiring partnership with local enterprises is a crucial remark concerning the international market dynamic. In contrast, technological development affords the option for product line diversity, as well as the ability to anticipate market trends. Therefore, Walmart has made substantial investments in technology updates to maintain its competitiveness and market leadership.

Industry Conditions

Walmart is a retailer facing various industry issues, including severe competition, a weak supplying power, a fragile purchasing power, a substantial threat from alternatives, and a forceful threat from new entrants. The high competition in the business is due to the saturation of the market with several firms of about equivalent size and the lack of product differentiation, which cuts switching costs (Hardaker, 2018). Walmart's efforts to build competitive advantages are hampered by the abundance of competitors. On the other hand, the corporation faces limited customer negotiating power as a result of a big consumer population and modest individual transactions that have a minor impact on revenue.

In addition, the low negotiating power of the industry's suppliers as a result of the vast population and severe rivalry for limited space has negligible impact on Walmart's expansion. The combination of modest availability, poor variety, and high cost of replacements renders the retail industry vulnerable. Small retailers are able to enter the market due to the cheap cost of brand creation and capital requirements. This poses a significant challenge to the business. Therefore, the corporation must remain active in order to be competitive.

Operating Conditions

An operating environment consists of local market factors that influence the ability of firms to acquire resources, engage in marketing, and generate profits. Walmart's operational strategies in the United States include store placement, supply chain operations, and the maintenance of a solid quality system. The objective of location management is to streamline supply operations and enhance the client shopping experience. Walmart's store logistics necessitates dense store networks in order to maintain its market dominance. At this supply chain, the business is primarily concerned with constructing new distribution networks in a central location and implementing an electronic records management system. This radiating technique facilitates the maintenance of a lean inventory while decreasing overhead expenses.

Moreover, as a retailer, Walmart is ultimately responsible for the safety of its products. The organization has developed a system of quality control that integrates its suppliers in order to attain a consistent level of quality. The regulation requires suppliers to obtain accreditation from the Global Food Safety Initiative (GFSI). Fundamentally, the company integrates wireless technology to its self-inspection system and utilizes third-party audits to maintain food safety across its whole network.

Changes Anticipated Over the Next 5-10 Years

Remote Environment

On worldwide markets, contemporary consumers place a higher value on experiences than on actual objects. This sociocultural dynamic has the ability to transform commercial operations in the retail industry, such as modifying product aims to fit an individual's lifestyle, telling a story, and being distinctive to meet a specific need. In this context, consumers have the ability to influence the design and construction of products in order to conform to market norms and make shopping more enjoyable. In addition, technological progress will permit the deployment of robots and drones to assist retail operations with packaging, shipping, and online updates.

Industry Conditions

Future environmental dynamics of the retail industry will be determined by technological progress that affects market characteristics, including competitive rivalry, the availability of substitutes, and the bargaining power of consumers. According to Grewal, Roggeveen, and Nordfalt (2017), technological developments reduce entry requirements such as brand development and supply chain operations, resulting in retail industry saturation. In addition, enhanced communication networks and mechanization have a substantial impact on future production and product deliveries, hence increasing the likelihood that substitute items will be available on the market. Consequently, projections predict that Walmart will encounter a challenging business climate, necessitating strategies and methods to capitalize on the company's assets.

Operating Conditions

The fundamental trend in the working environment of the sector is the modification of business architecture and recruitment methods. The technology development has substantial effects on the conventional business model in terms of the placement of the physical store and the use of paper documents (Grewal et al., 2017; Hardaker, 2018). The expansion of e-commerce, which moves customer purchasing behaviors and spending habits from brick-and-mortar establishments to online markets, is one of the most significant changes in the industry environment.

In this setting, firms' employment and supply chain requirements change from in-store positions to online support, inventory management, and door-to-door product delivery. Since the retail industry's performance is totally dependent on employee happiness, the primary purpose of operations is to attract and keep the greatest employees to ensure long-term success. As a result of the technologically aware population's admission into global markets, businesses must adapt their recruitment methods to attract talented individuals.

Economic Indicator Macroeconomic Forecast

Walmart's primary strengths, according to a macroeconomic projection, include competitively cheap costs, a vast product selection, a strong brand, adaptability, and a robust supply chain network. A flexible operational framework that permits market modifications and expansion is a further economic indication (Grewal et al., 2017). The company offers an extensive assortment of goods at market-competitive costs, attracting the majority of low- and middle-income consumers.

This low pricing model has increased Walmart's brand recognition, making the corporation well-known in numerous market locations. The corporation adapts its strategies to regional requirements, such as legal constraints and cultural variety, in order to maintain market supremacy and reduce expansion obstacles. A strong supply chain infrastructure, including an easy-to-use website, facilitates the accessibility and availability of the organization's outlets, which attract a large consumer base.

Future strategy plans for the company must account for market prospects such as worldwide growth, a greater focus on health issues, environmental concerns, and payment systems. The rise in global interest for healthy lifestyles is a significant economic indicator (Moore, Pinard, & Yaroch, 2016). Since people are willing to purchase better foods, Walmart must prioritize offering fresh and healthy food options in addition to packaged goods.

In addition, the growing need for environmental preservation presents an opportunity for the company to enhance its image. Walmart must increase its adoption of methods with minimal environmental impacts in order to surpass competitors, given that social welfare initiatives involving green ethics are a key component of consumer preferences. Additionally, the corporation can boost its financial performance by broadening its product line to include banking systems. Walmart can save money on third-party electronic payments by establishing its own banking infrastructure.

In contrast, Walmart must take into account negative economic indicators such as excessive employee turnover, unwelcome publicity, and low differentiation. Since employees are first-line brand ambassadors, the company's low-wage approach results in workforce unhappiness and significant staff turnover, which has a detrimental effect on brand loyalty (Blut, Teller, & Floh, 2018). Negative publicity including bad working conditions and criticism undermines the organization's connection with its suppliers in the supply chain, resulting in a negative market image and low sales. In addition, Walmart’s lack of differentiation diminishes its market domination and increases the number and influence of its store competitors, such as Amazon, Target, and Kmart.

In addition, political issues and severe competition are some of the global adverse economic conditions influencing the retail industry. Political hurdles, such as an unanticipated quick change in international economies and regulatory compliances that result in onerous processes, impede the development of new markets. Notably, unpredictable economic situations that involve currency depreciation, as in the case of China, raise overall operational costs, resulting in low profitability. Similarly, the increasing ability of competitors like Amazon, Target, and Tesco to eliminate pricing discrepancies places immense pressure on Walmart's business sustainability and threatens its future growth.

Intangible Aspects of the Remote Environment

Social, cultural, political, and technological aspects of the macroenvironment are the non-economic factors influencing the market performance of retail enterprises. These factors make the industry less appealing in terms of its overall profitability. The sociocultural variables influencing the industry include dynamic lifestyles, shifting demographics of the workforce, and developing disease conditions.

Dynamic lifestyles are characterized by changed consumer preferences for convenience, online social activities, and healthy eating habits. According to Grewal et al. (2017), the advent of a technologically sophisticated generation influences business practices, allowing retailers to offer real-time online ordering and same-day service delivery. In addition, increasing global awareness of healthy lifestyles and the needs of clients with chronic diseases creates new business opportunities and requires retailers to adapt to these changes to sustain success. However, the demand for quality products has a significant impact on Walmart's ability to maintain its cost leadership approach.

The political climate has a significant impact on the performance of businesses across all industries. Companies are required to comply with predetermined regulatory policies governing operations, employee conditions, and customer service. This legal framework influences the strategic planning and management decisions of a business. In order to develop their reputations, preserve their market image, and increase brand loyalty, corporate managers in the retail industry must adhere to certain regulatory structures, which directly effect their target markets. However, Walmart has been criticized for its adherence to the law due to a number of discrimination cases against its employees, which has badly impacted its market performance.

Global business procedures have been transformed by technological development. New ideas include an internet presence, doorstep delivery, and a worldwide reach. To address the social needs of the modern, adaptable customer base, numerous retailers operate online storefronts. This technology feature has altered the retail industry's business practices, typified by a move from brick-and-mortar facilities to the use of virtual sites (Grewal et al., 2017; Shukla & Sharma, 2018). Social networks serve as an advertising medium to inform consumers of product availability and simplify price and quality comparisons.

Microeconomic Analysis of the Organization's Competitive Situation

Valuation of Products

Walmart uses a cost leadership pricing strategy to achieve a competitive edge over rivals as a result of its industry-lowest operating costs. Due to the price sensitivity of the majority of consumers, this low-cost pricing model helped Walmart to gain and rapidly expand its market dominance. Investments in technical advancements and communication system innovation enabled the company to achieve minimal operating expenses, low prices, and a strong market brand while still generating profits (Grewal et al., 2017; Shukla & Sharma, 2018). This market dominance attracts a big local and international consumer base, allowing the company to reduce product pricing to its advantage.

Evaluation of the Market

Walmart's sophisticated distribution system enables them to respond quickly to market demands while maintaining a low inventory level. Continuously, the company sends goods to warehouses and stores within a day. Since clients desire a convenient experience (Blut et al., 2018), the company provides a large selection of low-priced groceries, household appliances, and cosmetics. This marketing technique enables Walmart to meet all of its consumers' needs in an one location. Walmart's online presence is becoming increasingly advantageous for market penetration. Fundamentally, the adoption of the everyday low price marketing strategy helps the company to attract huge populations to its retail locations, resulting in increased sales and a high cumulative profit margin.

Evaluation of Cost Structure

Walmart has a customer-centric strategy that tailors product offerings to the needs of distinct market segments. Nonetheless, the primary cost structure consists on providing clients with unsurpassed low rates. This strategy takes use of weekly discounts, coupons, and ad matching on sets of products. In addition, the corporation employs social media initiatives, such as bulk mailings, electronic newsletters, circulars, website promotion, and newspaper advertisements.

In addition to the product-price match strategy of competitors, the company uses an innovative assortment-planning tool to track store trends and consumer purchase habits, thereby enhancing its personalised marketing strategy. Walmart is expanding and opening new stores in fresh marketplaces to increase accessibility and market convenience despite these technological developments.

Conclusion

Walmart's position in the retail industry has been determined through examination of its business environment. Walmart faces various obstacles in these conditions, ranging from rivalry to shifting consumer preferences. Walmart must adapt to dynamic changes in its remote, industry, and operating environments if it is to develop and remain competitive in the retail industry. In the next five to ten years, the employment of pricing strategy, the expansion of product selection, the adoption of technology, and the establishment of convenience shops are among the crucial initiatives that will increase its performance.

References

Blut, M., Teller, C., & Floh, A. (2018). A meta-analysis of the retail marketing mix's effects on customer traffic. 94(2) Journal of Retailing: 113-135 Web.

Grewal, D., Roggeveen, A., & Nordfalt, J. (2017). The future of commerce. Journal of Retailing, 93(1), 1-6. World Wide Web.

Hardaker, S. (2018). The case of grocery discount retailers and why they have not won the Chinese market in terms of retail format rivalry (yet). 26(3) Moravian Geographical Reports, 220-227. Web.

Moore, L., C. Pinard, and A. Yaroch (2016). Consumer styles at grocery shops that encourage shoppers to purchase healthier meals 2014. Community Health Journal, 41(4), 812-817. Web.

Shukla, A., & Sharma, S. (2018). (2018). Application of the technology acceptance model to the evaluation of consumer adoption of mobile technologies for grocery shopping 22(2), 185-198, The Journal of Business Perspective. Web.

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Causes For The Decline In Disney’s Income College Essay Help Los Angeles

Introduction

Any company's operation is a complex process that depends on a variety of factors. Internal and external elements have a substantial impact on the performance of a business and its ability to create revenue, according to the current approach to management. Consequently, there are a variety of strategies for addressing these factors and laying the foundation for future development. Effective human resource management, for instance, takes into account the present climate inside a company and the ability of employees to fulfill their assigned jobs. Leadership, change and motivation management, and communication are also regarded as crucial factors that must be addressed to prevent decline. The objective of the study is an investigation of Disney firm and the recent drop in income to highlight the significance of the aforementioned variables and suggest solutions to improve them.

Background

Disney is a massive conglomerate that dominates the film industry. Today, it is primarily connected with high-quality products that draw the interest of people from all over the world. The company produces movies, cartoons, and other things that are appealing to diverse customer demographics and distributed in multiple states. In 2019, the Walt Disney Company generated a total of $69.57 billion in revenue (The Walt Disney Company, 2019). It indicates that the company remains one of the leaders on the U.S. market, with promising prospects for future growth. In addition, it owns well-known franchises such as Star Wars and Marvel Comics, which can help it gain a competitive edge and maintain its position as market leader (The Walt Disney Company, 2019). However, the recent changes in the company's management have brought up some issues that need to be discussed.

Problem

The waning interest in Disney's most recent productions is one of the company's primary challenges today. According to research, the response to films such as the final installment of Star Wars was less favourable than anticipated (Barnes, 2019b). In contrast, neither income nor box sales were less than anticipated (Barnes, 2019a). Significant financial losses (about $170 million) were also foreseen due to the decreased interest in other products, such as X-Men: Dark Phoenix (Barnes, 2019a). Its streaming services also necessitate extra investment in 2019, when Disney reported a 66% quarterly profit loss (Barnes, 2019b). The firm lost almost $740 million compared to $330 million the prior year (Gondo, 2020). The provided data illustrate the scale of the problem and highlight that Disney faces a formidable obstacle due to the reduction in sales of its primary products and services.

Response

The presented issue sparked debate and highlighted the need for action. The Walt Disney Company and its executive chairman, Robert Iger, acknowledge the problem and the need for adjustment to prevent similar losses in the coming year (The Walt Disney Company, 2019). The firm also launched an analysis of the market and target audience to determine the major causes of the decline in income. According to the data obtained by the researchers, the overall exhaustion from the investigated franchises and the absence of creative ideas were identified as the primary variables affecting sales and the decline in interest in the offered products (The Walt Disney Company, 2019). The company saw the need for a big change in its internal environment in order to avoid problems in the coming year and ensure that new goods will be more popular with consumers.

Major Reasons

By investigating the specified issue, it is feasible to identify various significant causes for its occurrence. First, as a leader in the sector, the business need a steady income and revenue-generating projects. To achieve this objective, the corporation opted to hire well-known franchisees and prioritize the number rather than the quality of new items (The Walt Disney Company, 2019). It led to the devaluation of new films and a drop in audience interest. Second, the transformation in HR management followed the change in strategy. It indicates that the firm and its employees are more focused on the development of current franchises and the manufacturing of several items each year than on the introduction of a brand-new project that could capture the attention of the target market. These causes contributed to the discussed income drop and issues.

Leadership

The current route unique to Disney is also related with the new leadership philosophy. The contemporary film industry is a highly competitive environment characterized by the presence of numerous powerful competitors and the possibility of a new entrant (The Walt Disney Company, 2019). For this reason, it is crucial for titans like Disney to have a constant income in order to remain competitive. The specified goal can be completed in a variety of ways, one of which involves focusing on the amount of products and reusing proven strategies (Mathis et al., 2016). Therefore, the current approach to leadership at Disney necessitates the encouragement of supportive behaviors and incentives, rather than the production of new, riskier solutions (Mathis et al., 2016). This strategy helps maintain leadership positions and generate large profits, but it also fosters growing discontent within the target population.

Decision-Making

The manner in which decisions are made is a crucial aspect of the internal environment that is currently influencing Disney. Due to the existence of multiple aspects that must be considered in order to arrive at a satisfactory solution, determining the complexity of the given aspect can be determined (Noe, Hollenbeck and Gerhart, 2019). For Disney, these elements include intense competition and the need to minimize financial risks to prevent losses (Barnes, 2019a). Initiating new projects and launching brand-new franchises may necessitate a significant degree of uncertainty and the existence of many challenges that could compromise the results (Mathis et al., 2016). For this reason, Disney's present approach to decision making emphasizes the importance of employing dependable, non-risky solutions to ensure the brand's stable development and image protection. It impacts the aforementioned plans and drop in interest.

Motivation

Finally, motivation should also be addressed as a factor effecting Disney's operations and its current sales challenges. It can be measured by the employees' willingness to engage in particular activities and their desire to perform them at a high level (Mathis et al., 2016). Modern management acknowledges the importance of motivation to the operation of businesses and offers a variety of methods to control it. For the issue at hand, motivation should be viewed as a crucial feature of the internal environment that preconditions Disney's reduced product quality and failure to attract customers (Mathis et al., 2016). In reality, the change to alternative leadership and decision-making models also affects the intrinsic motivation of workers. They are currently unable to meet their high-level needs, which preconditions their diminished performance.

Using Maslow's hierarchy of needs, the current state of motivation can be analyzed. It asserts that every individual has basic, psychological, and self-fulfillment requirements (McLeod, 2020). The first group comprises physiological and safety needs; the second, esteem and love requirements; and the third, self-actualization needs (McLeod, 2020). In this manner, a person's motivation depends on his or her current state and the extent to which the stated requirements are met. Due to Disney's attitude to creativity and the company's emphasis on the support of existing products, the most important, or self-esteem demands are not currently being met, as employees are unable to reach their full potential while working on projects created by others. It has an effect on the operation of the business and the waning interest in the end items.

Using Locke's theory pertaining to this component, one may also analyze motivation. He hypothesized that persons who are presented with particular, complex, and difficult-to-attain goals obtain greater results and levels of performance than those who focus on easy and overly generic goals (Mathis et al., 2016). Consequently, task difficulty, commitment, and clarity are the most important components in ensuring the achievement of intended goals (Mathis et al., 2016). Applying the concept to Disney's operations reveals that the majority of employees do not have complex or specialized objectives, as their primary responsibility is the maintenance of existing businesses. They must adhere to the CEO's directives and help to the development of new standardized items. Only a small fraction of specialists work on entirely new projects and have the opportunity to demonstrate their creativity and satisfy their self-esteem demands.

Another issue with the Walt Disney Company is that they rely primarily on extrinsic motivational techniques. It indicates that a person's behavior is motivated by an external incentive such as increased remuneration, the possibility of receiving advantages, or the capacity to avoid certain penalties (Mathis et al., 2016) The offered method is seen less effective when compared to intrinsic motivation, assuming that a person's desire to perform an activity stems from his or her own internal drive, as it guarantees enjoyment, skill growth, and enhanced self-esteem (Noe, Hollenbeck and Gerhart, 2019). Due to the aforementioned issues, such as limited creative options, Disney primarily use extrinsic tactics, such as high salaries, payments, and prospects for job advancement. Simultaneously, it becomes less effective than the capacity to realize their ideas and produce films or items that will be linked with them in the future.

Possible Solutions

From the preceding debate, it is evident that one of the primary reasons for declining salaries and the failure of recent films is the lack of new ideas, which also reduces worker motivation and creativity. In order to prevent a future deterioration of the situation, it is crucial that this element be improved immediately. The invention of new tasks may help employees satisfy their esteem requirements and feel inspired to work more, as it will allow them to demonstrate their creativity and allow them to launch a new product or service (Noe, Hollenbeck and Gerhart, 2019). Introduction of entirely new incentives can also have a favorable effect on the corporation's overall productivity.

Furthermore, according to Locke's view, complicated objectives are essential for achieving high performance levels. As a result, Disney should be willing to reevaluate its approach to goal-setting and ensure that the majority of specialists work on complex and creative projects, as it is essential for their motivation levels. In addition, the employment of this strategy will aid in the transition from extrinsic to intrinsic motivation, as the capacity to achieve difficult goals will make employees feel better and increase their confidence in their ability to contribute to the evolution and growth of the organization. Disney must abandon the practice of utilizing old franchises and introduce new ones, as this will boost the company's image and motivate its employees.

Conclusion

Overall, Disney is a massive international corporation that is also a leader in the film business. However, in 2019 it faces a fall in sales and waning interest among its target demographic. It can be attributed to the exhaustion of existing projects and the corporation's improper internal climate. In order to tackle this issue, it is essential to urge tam members to work harder and provide them with fresh tasks that allow them to demonstrate their creativity and satisfy their self-esteem demands. Enhanced goal-setting is also essential for achieving positive results and overcoming the crisis.

Bibliography

Barnes, B. (2019a). "Disney earnings disappoint in the first full quarter following the Fox acquisition." The New York Times.

The New York Times. Barnes, B. (2019b) "Disney's ambitious streaming plans take a big bite out of profits."

Web. Gondo, N. (2020). Is Disney stock a buy now, as analysts react to the coronavirus outbreak?, Investor's Business Daily.

Mathis, R., et al., Human resource management, Web. Cengage Learning, Thousand Oaks, CA, 15th edition. McLeod, S. (2020) The hierarchy of Maslow's needs Noe, R., J. Hollenbeck, and B. Gerhart (2019). Fundamentals of human resource management. New York, NY: McGraw-Hill Education, eighth edition. The Walt Disney Company (2019) Fiscal year 2019 annual financial report. Web.

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Starbucks: Multi-Channel Growth College Essay Help Los Angeles

Introduction

Starbucks is a globally renowned company that first opened its doors in 1971. It eventually went public through an initial public offering in early 1992. The company's growth methods have resulted in its expansion into many more countries and, consequently, a larger market. This company consistently demonstrates innovation and expert coffee-making skills. They take great delight in producing coffee of the greatest quality. They also take pleasure in having the greatest coffee equipment. In this paper, we will examine how this company expanded from a single nation site to over 30 in less than 22 years. This expansion was accompanied by a rise in revenue that surpassed $2.1 billion. Recent sales have increased to even greater billions of dollars. Even more intriguing is the fact that this corporation began as a single store in Seattle, the so-called Market of Pikes Place.

The Inception of Starbucks

It all began when Jerry Baldwin, an English language teacher, Zev Siegel, a history teacher, and ultimately Gordon Bowker, a writer at the time, decided to build a store. They referred to it as Starbucks Coffee, Tea, and Spice. This, they did open in Seattle as a result of the city's large tourist population. With an expenditure of around $6,350 apiece, these three partners believed they could establish a clientele in this area, which they did so successfully. They made a strategic decision after recognizing a great commercial opportunity in this market for premium coffee. They had also noticed a similar success story in the same industry in the San Francisco Bay Area (Schulz, 45). This gave them the confidence to experiment with this new line of business in this region.

In 1971, Starbucks Company originally opened its doors for business. At this Seattle's Pike location, the business envisioned supplying coffee to nearby restaurants and bars. The store at this particular location sold coffee-making supplies. These items were renowned for their superior quality. These proprietors were mostly engaged in educating their valued clients. They primarily told them of the several advantages of dark roasted coffee. Aside from that, they were extremely proud of their extensive knowledge of these coffee beans.

This store's initial customers were individuals in the vicinity of its Place Market location. A new employee, Howard Schultz, was brought on board. He was specifically hired to oversee and guarantee the performance of retail and marketing. His employment was also consistent with the company's founders' original vision. They desired most to maintain their dedication to quality. Their objective also included ensuring that their consumers not only drank their coffee but also learned something. They accomplished this by hosting numerous consumer education sessions. This was done to ensure that they were aware of the benefits they believed were connected with dark roasting coffee beans.

However, after the new recruit's travel to Milan, Italy, in 1982, the year is approximate. During his travels, he observed a number of extraordinarily large coffee and espresso establishments. This incident prompted considerable reflection. He believed that Starbucks should distribute cappuccino, freshly brewed coffee, and espresso. The corporation should also continue offering high-quality coffee beans and equipment. However, the owners did not support his suggestion. This was because the owners absolutely forbade the Starbucks Company from selling any type of beverage. The firm owners were not convinced of this new concept until 1984. This was formally approved with the opening of a sixth store that would serve as a sort of pilot program for this new product range. This establishment was in fact a bar selling coffee, cappuccino, and espresso. Unbelievably, immediate success was reported.

Upon seeing the potential success of his invention, he quit his employment to pursue his ambitions. His initial concept involves the creation of espresso bars. These were to be opened across the Seattle region. Soon, Howard created a new store called Giornale. All of the coffee that he brewed at this shop was Starbucks. Therefore, he was essentially utilizing the capabilities of Starbucks. This assured that he delivered consistently high-quality coffee from the skilled coffee roasters at Starbucks at the time (Brent, 2002).

Giornale did eventually acquire Starbucks assets in March 1987. This was accomplished through a transaction with the original owners for slightly more than $3.8 million. Additionally, Giornale formally changed its name to Starbucks Corporation. Amazingly, before the end of that year, Starbucks had already added 17 additional stores. It was now able to reach a larger market due to its expansion into Vancouver and Chicago. All of this was due to the owner's ambition for this now-small and expanding business.

Starbucks in Growth Mode

All of this began after 1987. The new chief executive officer has already displayed his corporate creation vision. This was the result of his expansion of his initial company, Giornale, through the acquisition of Starbucks. Thus, he only moved horizontally to verify that he had absorbed the Seattle market. After observing the success of this new business venture at Giornale, he decided to pursue it himself. Initial expansion ensured entry into new, already-established markets. This guaranteed that a catalogue for mail-ordering of this fine roasted and black coffee existed by 1988. By 1990, more expansions had emerged (Argenti, 65). This was accomplished by the building of a new plant for roasting beans and the expansion of the Seattle headquarters. The corporation had formally launched its other endeavors and innovations after conducting a search for development groups. This verified that the organization was making progress.

This owner of the rapidly expanding Starbucks wanted to retain employees whom he deemed to be of exceptional caliber. Consequently, he was the first person to initiate a program selling stock to employees of a privately held company. Part-time workers were also included in this initiative. He deftly employed the phrase "partner" to refer to each and every employee in this organization (Johnmoore, 1). This appears to have been highly effective, since the company's growth continued to accelerate.

In 1991, Starbucks officially entered the enormous California market. The trendiness of California inspired Starbucks' management to build a strong belief in achieving fresh success. This company had just surpassed their expansion vision by more than 20 stores in less than five years, in accordance with its unwavering belief. In such a short period of time, from 1987 to 1992, this company actually opened up to 150 outlets. The primary explanation for this tendency was the company's exceptionally high sales volume (Johnmoore, 1). This transaction was subsequently attributed to the coffee's exceptional quality. Indeed, this environment of association expanded rapidly.

Initial public offering and Future Expansion Strategies

In June of 1992, NASDAQ (National Association of Securities Dealers Automated Quotation System) hosted this initial public offering. In 1993, a business ventured into the Washington, D.C. market (Rotman, 27). Banes & Noble Inc. and Starbucks have reached an agreement. The agreement allowed Starbucks to sell its coffee freely at Barnes & Noble bookshops. A second plant for roasting coffee beans was also constructed in the same year.

To assure continued expansion, the corporation initiated strategic collaborations. Consequently, the corporation spent up to 23 million dollars between 1994 and 1995 on a large acquisition. This pertains to the acquisition of Coffee Connection, Inc. This period of time represented the inexorable expansion of the Starbucks brand into around 15 additional U.S. cities. Additionally, it pushed its expansion plan by forming the PepsiCo Alliance. This cooperation was intended to facilitate the production and eventual distribution of coffee beverages (Bryson, 1). Frappuccino, a coffee-based iced beverage, has been a tremendous success, therefore their partnership has paid dividends. This beverage is currently popular in convenience stores and grocery stores. During the same time period, United Airlines and the Hotels of Sheraton also joined the team. They were primarily created as new accounts.

This company also formed an alliance with Dreyes Ice Cream, an ice cream manufacturer. In 1996, this was agreed upon. This partner company consequently ventured into the production of coffee-based ice cream goods. Amazingly, the ice product became the most popular brand of coffee-flavored ice cream in the United States of America. Alternatively, the corporation was expanding rapidly in the United States. This rate was so rapid that by 1996, a total of 1,015 new Starbucks outlets had been opened.

Starbucks Expands Globally

By 1995, when store number 676 opened, the firm had already established itself as a force to be reckoned with. Through joint ventures with other foreign corporations, such as Sazaby Inc., the company expanded into the international market. Using Sazaby as an example, Starbucks was able to establish a presence in Tokyo, Japan. This store's opening in the Japanese city of Tokyo is regarded as the defining moment in the internationalization of this brand and corporation. Due to the company's goals, it was not surprising that by the end of 1996, outlets had opened in Singapore and other locations. Before the end of 1998, Thailand, Malaysia, Taiwan, and New Zealand were expected to be included to this list. In 1999, South Korea, China, and Lebanon would soon be honored by the presence of Starbucks.

Japan, Hawaii, and Singapore were among the nations in which the corporation was initially present. This allowed it to forward its many ambitions, such as the growth of coffee shops in Japan. In 1998, Seattle Coffee Company, based in the United Kingdom, was one of the noteworthy acquisitions made by Starbucks. This corporation had 56 separate locations, and as much as $60,000,000 USD changed hands. This acquisition also marked the beginning of a new objective to acquire 500 outlets across Europe by the end of 2003. (Baker, 2).

Later in 1999, other acquisitions occurred. These included the tea firm Tazo and a long-term relationship with the Albertson's grocery store. The Albertson agreement resulted in the opening of at least 100 Starbucks Coffee shops within its grocery stores. This eventually led to the introduction of Tazo tea and Frappuccino throughout the Midwest (Savanese, 1). Other Starbucks products that was a part of the Starbucks brand was also introduced in this Albertson-dominated region. In 2000, other collaborations emerged, such as with the Host Marriott. This had a significant part in assuring the continued expansion of the hotel industry (Monique, 1).

2001 was a year of tremendously large expansion. This was accomplished by adding around 1,400 new stores. Therefore, there were up to 4,709 stores by the end of the year. Throughout addition, this company's Japanese branch had opened up to 300 outlets in Japan. Starbucks has gained a great deal of popularity in this country, which is largely responsible for its enormous success in this foreign country populated by Japanese. Along with its huge popularity was its tremendous financial success. This was especially true after the Japan NASDAQ first public offering.

Starbucks, whose primary objective is to become a market leader on a global scale, strives to improve the lives of people all over the world through what it refers to as "making a difference in people's lives." Therefore, this seeming scenario with an international appearance appears to be an emerging aspect of this organization. In the opinion of the typical individual, they have accomplished their goals. This is a result of the company's past accomplishments. However, according to Starbucks's own assessment, the company is almost there. This is due to the fact that although it has an outstanding international presence, it is limited to a small portion of the globe, namely Bahrain, Hong Kong, Australia, Lebanon, Israel, Oman, Japan, Malaysia, Kuwait, New Zealand, South Korea, Philippines, Qatar, Singapore, UAE (United Arab Emirates), Peoples Republic of China, Taiwan, Switzerland, United Kingdom, and the United States of America (USA). Other nations consist of Egypt, Algeria, and South Africa.

The compact disc was one of their most notable acquisitions in the early stages of their international expansion (Smith, 28). This was mostly the consequence of a popular experiment from the past. This incredible result of in-store music became a permanent part of all merchandise in the store. Since the beginning of this experiment in 1995, it has been an integral part of this organization.

This concept of the corporation being a big player to be reckoned with on the international stage appears to be generally favorably received by the company. This is due to the fact that corporations with worldwide influence are ready to cooperate with Starbucks. Clearly, this type of attention is crucial for this organization. This is because there is now a solid platform for the development of future foreign markets. This finally serves as an element that strengthens its mission.

Starbucks' objectives have enabled it to become a multinational enterprise. With over 5000 outlets in the United States and the rest of the world combined, this company has a significant presence in over 40 countries. This, together with its over 100,000 employees, makes it a true worldwide market leader.

Mission and Corporate Culture

Similarly to numerous other thriving organizations, they have a mission. Their objective is to establish itself as the world's top provider of coffee by all standards. It aspires to accomplish this while upholding beliefs that are never compromised. It also intends to continue its growth pattern. The likelihood of accomplishing this mission is largely attributable to the goals that had been established. These objectives coupled with

Human Resource Planning In A Changing And Dynamic Economic Environment College Essay Help Los Angeles

Introduction

HRP is an integral component of human resource management. It involves strategic planning aimed at achieving corporate objectives. One of the numerous aspects that must be considered in human resource planning is the economic climate.

The economic climate is another expansive topic while discussing the organization. It involves alteration. But when we say there is a dynamic economic environment, we mean that environmental aspects within the organization are conducive to planning; therefore, planning cannot be successful without considering the economic environment of the company. Additionally, economic environment can relate to environmental variables external to the firm.

Furthermore, the focus of this article is on the question: Is planning relevant in a dynamic and changing economic environment? Certainly, it is pertinent in the sense that the organization's future needs must regard the environment as one component.

Our literature analysis will center on the several facets of human resource planning, the benefits and drawbacks of HR planning, some HRM-related features, and theories and concepts.

Literature Review

Human resource planning is a strategic HRM concept. According to Armstrong (2006, p. 363), human resource planning is essential for the business to reach its strategic objectives. Human resource planning is defined by Bulla and Scott (1994, referenced in Armstrong, p. 363) as "the process of ensuring that an organization's human resource needs are identified and plans are made to meet those needs."

Human resource relates to people, and planning involves people; therefore, people play a strategic role and are the organization's most valuable asset.

Human resource planning is crucial to business planning and should be an integral component. It is concerned with matching resources to the organization's business needs. It addresses human resources quantitatively and qualitatively by answering the following questions: how many are needed in the organization, how many are needed for a certain project or business, and what skills and competencies should the people (or employees) have? (Armstrong, 2006, p. 363)

The strategic planning process outlines anticipated changes in the scope and nature of the organization's activities. It should identify the essential capabilities necessary for the organization to achieve its objectives and, consequently, its skill needs.

Human resource fundamental topics include the pursuit of excellence, which entails staffing the appropriate people in the right positions at the right time. Some poor personnel practices contribute to managers hoarding talented individuals at the expense of the organization. It also encourages promotions from within a manager's own department or network of connections, without considering candidates from across the firm. This is regarded within the organization as cronyism or parochialism.

The mission of the company plays a crucial part in the hiring procedure. For instance, if senior management intends to divest and withdraw from a particular business, this should have substantial repercussions for the selection of managers tasked with managing that organization during its final days.

It is the responsibility of upper management to identify and choose personnel capable of implementing the organization's divestiture strategies. Which talents, experiences, and personality traits are necessary for the top-level management team to successfully divest itself of a failing business? The CEO is responsible for maintaining employee morale and performance, cultivating customer goodwill, and controlling expenses. The assignment of managers deemed organizational failures or unnecessary to oversee the sale of a business unit has been a regular staffing decision, despite the fact that the opposite strategy is required.

Miller (1984, p. 68) states, "Approaching the staffing process from a strategic perspective necessitates an integrated interpretation of the relationships between the different levels of human resource concerns in the planning process." Long-term identification and selection of the people who will best manage the company and its businesses involves a comprehensive set of programs and activities.

The strategic process begins with the identification of the corporate strategy, followed by the identification of the strategic learning imperatives (strategic training and development objectives) to support the strategy. Then, these learning imperatives are converted into specific training and development activities, which may involve both formal and informal training. Using proper measures, the final step entails determining if training contributed to the organization's goals. In support of company goals and objectives, training should be properly planned, designed, and assessed. Concerning needs assessment, the focus is on aligning training programs with the business strategy and operational constraints of a company.

Performance Administration

The objective of a performance management strategy is to manage the organization. This is business management within the context of the enterprise. The organization must inform every employee that the performance management plan affects all employees, not just managers. (Armstrong, 2000, p. 216)

Managers are not the only individuals responsible for performance; rather, managers and team members share accountability. The approach should incorporate all members of the team. Everyone is jointly responsible for results, and if something goes wrong, everyone should be held accountable.

Dynamic economic environment

Strategic planning necessitates a dynamic economic environment within the firm. The prevalent climate in a given region or country can also be referred to as an organization's external economic environment. It can refer to the external component or trait that businesses must consider when conducting strategic planning and implementing a strategy in the future. When doing human resource planning, it is necessary to comprehend the environment's dynamism and change, as it will impact the organization's strategies. This climate influences the work experience of the organization's employees. Emerging disputes on the economic situation within and beyond the organization also reflect the organization's vitality.

Still, the topic of discussion might take us to environmental scanning, which, like human resource planning, is a vital component of the strategic management process. The economic environment has direct or indirect effects on the organization.

Okumus (2004, as stated in Reichel, 2005, p. 209) defines environmental scanning as "the use of a systematic method by an organization to monitor, gather information, and predict external forces and developments that are not under the organization's direct control."

In contrast, human resource planning places greater focus on the economic vitality of the organization.

Resource-based perspective

The resource-based view (RBV) is essential to the evolution of strategic human resource management (SHRM), which is closely related to human resource planning. Edith Penrose, a professor of economics at the University of London, envisioned the business as "an administrative organization and a collection of productive resources" in 1959 (as cited in Boxall, 1999, p. 79). Boxall (1999, p. 79) quotes Nelson (1991) in order to differentiate between "physical" and "human" resources. Human encompasses the management team's knowledge and experience. Penrose asserts, "Firms are heterogeneous, and there is money to be made by leveraging their disparities… [and] the resource-based perspective is based on the notion that competition does not eradicate all 'differences between enterprises in the same industry'

According to the resource-based perspective model, a company's basis is a collection of distinct resources. The organization creates a fresh database of information, which serves as a source of data and knowledge, through its exposure to consumers, employees, and competitors. The resource-based perspective presupposes the uniqueness of an organization's resources and capabilities, which serve as the foundation for its strategy and planning. Resources are items gained by a business throughout the course of its operations, such as equipment and the skills and abilities of its employees and managers. These assets can be categorized as "physical, human, and organizational capital."

The organization can acquire a variety of resources from internal and external environmental elements, such as its personnel (such as from the customers, competitors). These elements constitute the economic environment of the organization.

Resources are described as many forms of sources that enable a company to pursue strategies that improve its efficiency and effectiveness, hence enhancing its competitiveness (Rodriguez and De Pablos, p. 175). However, individual resources may not suffice. In reality, resources are more likely to provide a competitive advantage when they are organized into capabilities. Organizational knowledge is one of the resources of this category. Rare, and the company can use them to its competitive advantage. It is unique, cannot be commercialized, and can only be developed internally. This type of resource derives from organizational competence and learning, is firm-specific, and cannot be transported.

This model also asserts that the changes in firm performance over time are mostly attributable to the firms' distinctive resources and competencies and not to external factors. Firms acquire diverse resources and establish distinctive competencies based on how the resources are combined and utilized. According to Prahalad and Hamel (1990, cited in Boxall, 1999, p. 80), a company's long-term competitive advantage originates from the development of exceptional core skills. This is because the company can learn faster and utilize its knowledge more effectively than its competitors, giving it a competitive edge.

The I/O Designation

Another model of HRM strategy, the Industrial Organization (I/O) model, explains the external environment by stating that the firm should focus on the external environment to achieve a competitive advantage. From the 1960s through the 1980s, the external environment was viewed as the primary factor in determining the competitive strategies of businesses. The I/O model presupposes that the external environment imposes pressures and limits, thus strategies must be based on them to get above-average returns. The company is believed to control comparable strategically significant resources and to pursue comparable strategies based on these resources. It is also assumed that the resources are highly transportable among companies, and any differences should be temporary. In addition, organizational decision-makers are presumed to be logical and devoted to acting in the organization's best interest.

It is considered that a variety of industrial features, such as economies of scale, barriers to market entry, diversification, product differentiation, and the degree of industry concentration, impact the firm's performance. The I/O model challenges businesses to compete in the most lucrative industry. Because it is assumed that most firms have similar valuable resources that are mobile across companies, their performance can generally only be enhanced by operating in the industry with the highest profit potential and learning how to implement the strategy required by the structural characteristics of the industry. (Hitt et al., 2009, p. 13)

Traditional method and Fundamental Elements

Hendry (1995, p. 94) cites Ulrich and Lake (1990) to explain that the traditional approach "assumes a rational process of strategic analysis, a static view of competitive advantage, neglects implementation of strategy, and treats the generation of commitment from employees as an afterthought in the financial, strategic, and technological planning process." Ulrich and Lake proposed an alternative approach that places employee engagement and an emphasis on competences at the center of strategic management.

Sometimes, the traditional method is referred to as the bureaucratic method.

Modern Methodology and Essential Components

"The modern approach to human resource planning establishes a link between the vast array of external and organizational factors, on the one hand, and specific personnel programs, on the other" (Patanayak, 2005, p. 34).

According to the above definition, the contemporary approach concentrates on the external environment and other elements related to human resources or the organization's personnel. The competencies of the staff must be discovered and then leveraged to achieve these objectives. One of the benefits of human resource planning is the identification of the appropriate amount of individuals with the necessary knowledge, abilities, and work attitudes. This is one of the most important activities of this type of approach. This also involves the capability of integrating the elements of people planning with the business strategy of the organization, as well as the construction of a system that allows workers to fit into their jobs.

Human resource planning is most effective when personnel is optimally employed and the organization's future demands are satisfied.

The modern approach is competency-based and "seeks to provide an integrated system in which the generic characteristics (whether they are generic to the organization or management in general) that distinguish competent managerial performance are identified, existing and required levels of competency are assessed through appraisal, and any resulting gaps are addressed through ongoing assessment and training and development programs" (p. 50)

Woodruff (1992, cited in du Gay et al.) defines competency as those attributes of an individual that enable him or her to carry out effective work performance. The traits are believed to be innate to the individual, yet they "receive different emphasis depending on a management level or the sector in which the organization in question is located – that is, public or private" (Boyatzis, 1982, cited in du Gay et al., p. 50).

The modern method includes the integrative process, which asserts that there is a connection between individual or employee goals and those of the business. The traditional approach centered on the organization's objectives, whereas the modern approach takes into account the needs of employees and society. This is due to the fact that new concepts in human resource management (HRM) focus on the individuals or employees within the organization.

The organization's biggest asset is its people, and the role of human resource management is to manage and maximize this valuable resource. This has another connection to the HRM definition:

"HRM emphasizes that employees are essential to achieving a sustainable competitive advantage; that human resources practices must be integrated into the corporate strategy; and that human resource specialists assist organizational controllers in achieving both efficiency and equity objectives" (Bratton, 1999, p. 11).

Bratton's definition emphasizes the purpose of human resource management in general and human resource planning in particular: to optimize the human resource potentials, including their talents, skills, training, and areas of specialty, for the strategic progress of the business.

One of the first explicit declarations of the HRM concept was provided by the Michigan School (Fombrun et al., 1984, cited in Armstrong, 2006, p. 4), which asserted that HR systems and the organization structure should be controlled in accordance with organizational strategy (hence the term'matching model'). In addition, they explained that the human resource cycle consists of four activities or roles that are done by all organizations: selection, evaluation, rewards and development, and people management.

Legge (1995, p. 33) says that personnel management is

Biovail Corporation’s Accounting And Reporting College Essay Help Los Angeles

Introduction

In the early 21st century, the pharmaceutical sector in Canada grew rapidly. By 2005, the sector was already providing approximately $6 billion to the gross domestic product (GDP), which increased its yearly growth by 7.7%.

In 2007, around $1.96 billion was spent on research and development programs. Each new medicine required a substantial amount of R&D before being approved. The approval procedure began with preclinical testing, followed by the submission of an Investigational New Drug (IND) application to the Food and Drug Administration (FDA) before human testing could commence. If the FDA does not approve approval, a company's bottom line could suffer severely. Biovail was also able to participate in this prosperous business time with its many enterprises.

Overview of Biovail Corporation

In 1982, Eugene Melnyk founded Trimel, a company that specialized in making crib notes for physicians. In the 1990s, he gained a patented technology and acquired a 50% investment in Biovail Corporation. Biovail was a full-service international pharmaceutical corporation by the mid-1990s. The corporation involved in drug discovery, clinical testing, product registration, manufacturing, and sales in Canada and the United States. During Melnyk's tenure as CEO, which began in 2001, the corporation faced a number of criminal, civil, and regulatory investigations, which accelerated the organization's surge in legal fees.

On October 1, 2003, a traffic accident involving a Biovail delivery truck occurred, and one week later, its stock at the TXS decreased by 33%. Later that year, Bank of America initiated an investigation into Biovail's shares, and by 2006, Biovail's CEO was in the news due to SEC and OSC concerns regarding the company's trading actions. The United States Securities and Exchange Commission issued a Wells Notice to Melnyk, who subsequently paid C$1 million and resigned as CEO to settle the case.

Case Analysis

Bank of America employed three expert opinions to investigate Biovail's press statement on the accident involving their vehicle, in which they claimed enormous damages that influenced their stock prices. The examination after the accident revealed that the corporation had exaggerated the loss because one-third to one-half of the truck was empty. It means that Biovail's argument that the truck accident prevented it from reaching its third-quarter 2003 goal could not be accepted. The fact that Biovail's product sales growth was negative in the same year was also a factor in the decrease of its sell ratings.

Additionally, Biovail was criticized for its diminishing R&D spending, its grossly inflated balance sheet, and its low tax rate. According to the report, Biovail's flagship product was acquired rather than developed internally in 2003. The company's balance sheet had a significantly higher degree of external debt than its competitors. In addition, Biovail's tax rate was 6.9%, whereas the next lowest rate among its competitors was 19.8%. (Mastrandrea, 2009). Lastly, the company's stated operating results deviate significantly from its earnings as determined by generally accepted accounting principles (GAAP). The difference between Biovail's pro forma and GAAP earnings indicated that the company was expanding faster than its organic growth.

The organization has mastered the art of falsifying its own reports. In 2001 and 2002, Biovail disclosed an increase in product sales and net income on their income statement (Mastrandrea, 2009). The company's poor performance in 2003 was attributed to the truck accident, and they issued a press release stating that their sales for the third quarter would be lower than anticipated. However, it was eventually revealed that this was an elaborate ploy to deceive the public and exaggerate company earnings.

Later that year, SEC accused Biovail of illegal dealings involving three secretarial projects, and they projected that Biovail had suffered losses as a result (U.S. Securities and Exchange Commission, 2008). Biovail created a special-purpose subsidiary, medicinal technology Corp. (Pharmatech), a development-stage company, to conduct around $125 million worth of R&D on its behalf. The only investor in Pharmatech contributed $1 million, of which $350,000 was returned as a fee.

In addition, the business fraudulently entered into an alternate arrangement with Pharmatech allowing Biovail to purchase all of its shares at any moment before to the end of the year 2006. Biovail executed its purchase option on December 27, 2002, after Pharmatech's banker refused to extend funding straight to Pharmatech. The SEC determined that Biovail's economic reports were significantly false and misleading, leading to an overstatement of net income (U.S. Securities and Exchange Commission, 2008). These factors contributed to the success of the legal action against Biovail.

In October 2001, the business entered into a deal with a distributor under which Biovail would develop WXL without FDA approval and then sell it to the distributor. Biovail urged distributors to submit orders for trade WXL by June 30, 2003, or else the company would not fully devote its manufacturing capabilities to making WXL tablets prior to the product launch. The distributor then placed a purchase order to Biovail, and Biovail invoiced the distributor for about US$8 million, resulting in an increase of US$4.4 million in operating income for the second quarter.

Biovail acquired the rights to a number of pharmaceuticals and incurred a responsibility in December 2002. Due to the fact that Biovail accounted for its results in U.S. dollars, it was necessary to declare the obligation in dollars using the current exchange rate. The Canadian currency strengthened against the U.S. dollar on March 31, 2003, compared to its rate on December 31, 2002. After then, the business issued a few legitimate accounting reports before returning to issuing false assertions.

Financial Performance Disclosure to Stakeholders

Instruments such as communicating performance and financial situation are important for firms to fulfill the requirements for the use of financial statements. A firm's communication with its stakeholders raises investors' awareness of the organization by continuously disseminating information about its business operations via mailings, yearly meetings, and quarterly or annual company publications (Brennan and Merkl-Davies, 2018). The objective of engaging with shareholders is to increase the company's visibility within the financial community, ensure that essential communications are properly delivered, and ultimately promote capital flow at a reduced cost. Successful shareholder communication techniques enable corporations to exert a larger influence over the wealth generating phase.

In the case of Biovail, for example, there was no communication among the stakeholders because the strategy decision was made unilaterally by the CEO and chairman of the board of directors, Eugene Melnyk. Therefore, the company's performance transparency is susceptible to manipulation. Recent attention on corporate governance is mostly due to the inadequacy of existing laws, policies, and mechanisms for monitoring and controlling the decisions of top-level management. This circumstance results in changes to the governance mechanisms of organizations across the globe, particularly with regard to initiatives to enhance the performance of boards of directors.

Annual Reports and Public Relations

The purpose of annual reports and news releases is to inform the public about a company's operations and financial activities, such as earnings and losses, over the past year. The reports review the previous year's results and discuss the management's strategy for the upcoming year, as well as the company's location and future prospects. This is a crucial part of a company's public openness.

Biovail Pro Forma

Pro forma reporting affords businesses a significant position in presenting company information in the most effective manner. It is used to depict the genuine state of the business and overcome accounting standards limitations that frequently result in an underestimation of a company's assets due to conservative accounting principles. It is not required to adhere to any reporting standards or norms, nor is it audited by external auditing authorities.

This can deceive investors, as corporations typically do not disclose a weak financial position in pro forma reports and instead depict the business as a profitable enterprise. Even if pro forma reporting is detailed, investors are required to undertake due diligence and thoroughly review it for anomalies with audited financial statements. Pro forma comprises sometimes difficult-to-determine predictions and projection statements, which include criteria that a corporation may estimate based on hypothetical best-case scenarios, so exposing some investors to fraud.

Exhibit 5 of the Bank of America analysis on Biovail demonstrates that pro forma earnings exceeded GAAP earnings by about 112%, compared to a variance of 100% for the median of the same measure across 16 peer companies. Such ludicrously inflated statistics are cause for concern that the numbers may be overblown, and they are an excellent illustration of how pro forma reporting can result in large disparities when compared to audited historical financial records.

However, proforma reporting is a necessary evil since events such as mergers and acquisitions (M&A) and the sale of assets typically have many implications on a company's financial statements that cannot be represented by historical statements. When a corporation utilizes a pro forma, accounting standards such as FASB and authorities such as SEC have articulated particular requirements and guidelines. Along with these standards, the organization is obligated to present users with a financial statement that provides a realistic insight into how the company management believes the transaction will impact the business's operations. Such a regulation is exemplified by SEC Regulation S-X and Rule 3-05.

In the event that extra regulation must be internalized for other pro forma reporting, additional regulation raises the compliance and risk avoidance costs for organizations.

The key test is whether users of financial statements have adequate assurance into the financial situation of a company, which they can obtain through comparative audited historical statements that can be used to gauge the value of any pro forma reporting; when there are no comparative statements, regulation is recommended to ensure this test is met. It should be highlighted that the SEC and key international accounting regulatory bodies should regulate pro forma reporting for significant transactions that are not covered by historical audited financial statements and contain standards on what must be included in pro forma. This is in addition to the calculation foundation, which we deem sufficient and for which no extra regulation is required.

OSC and SEC examine Biovail

In March 2008, both the United States Securities and Exchange Commission and the Ontario Securities Commission issued statements targeting the firm and four former and current executives. After the infamous truck accident that Biovail blamed for missing Q3/2003 earnings prediction, regulators were suspicious of Biovail's growth, raising suspicions that the company is fabricating justifications to justify poor performance and deceive investors. After the alleged accident, it became apparent that the company may be conducting fraud.

Even though the truckload was shipped on September 30 with a FOB destination and was still in transit on October 1 before the accident, indicating that it had not yet been delivered to the customer, the company stated that the truckload loss had a material impact on Q3 results, despite the fact that the customer had not yet taken delivery of the goods and the truckload should not be recorded as revenue (in accordance with revenue recognition rules). This incident confirmed that Biovail's accounting processes are plainly flawed. The forensic accounting that Bank of America commissioned eventually confirmed that the incident had no substantial impact on Q3 performance.

During his position as CEO and executive chairman of the board, Melnyk failed to properly report insider trading actions, selling $1.3 billion worth of Biovail shares without revealing his ownership to the public and dealing through offshore trusts. In addition, the SEC and OSC scrutinized Biovail's use of the following deceptive accounting practices to control its earnings.

It inflated revenue by shifting expenses to a Special Purpose Entity (SPE). Biovail established a SPE that, in exchange for royalties, performed R&D on its behalf. Since its beginning, this SPE has been plagued by suspicions, given that a former CEO was the sole investor whose money was reimbursed and Biovail donated the majority of the funds. Biovail used this SPE as a vehicle to remove R&D expenses off its books and record them on the SPE's accounts under the premise that it is a separate entity. This caused sales to be overstated by approximately 50% in Q3/2001, 18% in Q2/2002, and 16% in Q3/2002. The ownership structure of the SPE and the share option agreement indicate that the SPE was intentionally created to shift costs and increase top-line margins.

Additionally, income was recognized through a bogus bill and hold transaction. Biovail requested a distributor to submit a Purchase Order (PO) for non-saleable commodities for which FDA permission had not yet been granted, and immediately invoiced the distributor and recognized the $8 million revenue in Q2/2003, resulting in a $4.4 million overstatement of Q2 operating income. This plainly fraudulent action aroused the attention of the SEC and OSC.

Finally, financial results were misstated by altering foreign currency rates. Biovail elected to continue using advantageous exchange rates from earlier quarters to avoid losses caused by the Canadian dollar's appreciation, rather than using the current FX rates at the time company prepared its financial statements. This resulted in a $3.9 million understatement of Q3/2003 earnings. The corporation employed such dubious methods to collect additional funds through inaccurate reporting.

Collective Action Lawsuit

A class action lawsuit is a claim organized by a group of people; in the instance of Biovail, the plaintiffs are the company's stakeholders who share a desire to right an illegal act. For Biovail, the start and end dates for the period of claims were set, and all eligible stockholders were contacted and invited to participate in the class action lawsuit. After certification of a class action was granted, all eligible shareholders were notified and urged to provide comments. Then, eligible parties were entitled to a proportional share of any awards collected, net of legal fees.

This class action could be settled through an agreement with the company or through negotiation, or it could result in a trial where the judge renders a judgement after hearing both parties. In order to establish negotiating leverage, the plaintiff had to demonstrate that management intentionally deceived shareholders through their acts or the information they disseminated, resulting in a loss of share value. The success of the shareholders was ensured by the fact that the CEO, Melnyk, assumed responsibility for operating the company without informing them of important information.

The ten-year financial stability of Biovail

In order for Biovail to maintain its financial stability over the next decade, the following strategies need be implemented.

It is necessary for Biovail to increase the authority of its board of directors. Every organization can be negatively affected by the unethical behavior of a board member or director. However, when the board of directors has authority, it becomes difficult to perpetrate a fraud without being discovered. The Biovail case demonstrates that all corporate decision-makers are susceptible to unethical behavior and bad judgment.

It must also investigate the presence of a market for corporate control. It is assumed that Melnyk formulated and implemented the strategy that resulted in poor results. When sufficient control measures are in place, it will be impossible for questionable managers and leaders to commit fraud. This will aid the company if another CEO decides to behave in their own self-interest and against the fundamental accounting principles of the organization.

Finally, the assessment, transparency, and disclosure techniques must be strengthened. Biovail must improve and be more forthcoming with its financial disclosures. There are, nevertheless, deficiencies in corporate governance transparency. Numerous of these are voluntary disclosures regarding board practice that the company has not made public in the past. This can be accomplished by establishing a new audit committee to resolve the outstanding concerns that previously hampered the effectiveness.

Conclusion

In conclusion, Biovial's statements, whether in the form of financial reports or official statements that are accessible to the public, contain material that is irrelevant to the company's true condition. The drop in Biovail's share price that had been attributed to a truck accident did not seem to be the primary cause of the condition. Apparent errors in financial reporting and decision-making are created to benefit a certain group or individual at the expense of all shareholders.

References

Brennan, N. M., & Merkl-Davies, D. M. (2018). Do corporations communicate well with financial stakeholders? A conceptual model of corporate communication within the setting of the capital market. Accounting and Business Research, 48(5), pages 553 to 577. Web.

Mastrandrea, M. (2009). Revised accounting at Biovail. Richard Ivey Business School.

Securities and Exchange Commission of the United States (2008). Biovail Corporation and its executives are charged with accounting fraud by the SEC. Web sec.

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Forensic Auditing: The Case Of Clive Peeters Limited College Essay Help Los Angeles

A graphic illustrating the connection between the judgments imposed against Sonya Causer and the benefits he received before to his discovery.
Sonya Causer is believed to have invested the funds soon after he misappropriated them in the preceding calculation. The yearly financial audit that found a difference between the creditor ledgers and their subsidiary accounts suggested a discrepancy of $2 million, despite the fact that more money was actually lost. This demonstrates that forensic audit, despite being meaningful, is prone to error margins that are, in certain situations, substantial. This analytical diagram (figure1) illustrates the rent received from the property purchased with the stolen funds, but does not reveal the precise amount of rent received.

Twenty questions I would ask Sonya Causer if I were investigating the scam, with justifications for each.

In order to be labeled a fraud violation, certain factors must be determined during a fraud inquiry. These characteristics may include the confirmation of theft, the acquisition of property through deceit, the acquisition of a financial advantage through deception, the use of fake accounting, and the falsification of accounting documentation. The next twenty questions will be crucial in determining whether Sonya Causer committed fraud and whether he committed the claimed offense.

Who are the recipients of the 90 withdrawals associated with the 125 payments to eight bank accounts, as shown in the company's computerized accounts? Are you able to offer a list of these persons together with their respective banks?

This inquiry will allow the fraud investigator to determine if Sonya Causer committed a fraudulent accounting felony involving the manipulation or concealment of an accounting record. This query will also allow me, as an investigator, to determine whether the accountant repaid the company's creditors with the funds withdrew. The listing of account beneficiaries and their respective banks will provide tracing of deposits to the banks that receive them alongside account holders.

Which banks do you maintain a deposit account? What are your full names associated with these accounts, and what year did you open them?

This question will allow me to determine whether Sonya Causer has received any funds from the company account. It will also make it easy to trace situations in which workers or creditors substitute their own account numbers for the company's and siphon off funds under the pretence of making payments for the company. This question will assist in determining whether Sonya Causer deceived Clive Peeters in order to get money from him. Also, it will help establish whether Sonya Causer caused any losses for the company and whether such losses were intentional.

What are your roles and responsibilities as the Senior Financial Accountant at Clive Peeters? What is your authority's scope? Who do you report to when performing your duties?

Sonya Causer is in a position of trust as a senior executive in a position of authority. As a result, he exposes the company to losses that may result from the betrayal of confidence by specific personnel. It is socially and ethically anticipated that firm personnel will operate with the company's best interests in mind (Stafford, 2005, pp. 101-104), however this is not always the case. Therefore, this question seeks to determine the level of trust placed in Sonya Causer so that, if he has violated that trust, he can be held accountable for the crime. This aids in determining whether his day-to-day operations are monitored by an officer, as well as the effectiveness and compliance of internal controls.

Do you maintain a current debtor's account? Is the account for debtors in agreement with the account for sales control?

Usually, sectors involving currency are related with fraud in organizations (Swartz, 2004, p. 11). This is due to the liquidity of cash, the most liquid asset. In the majority of instances, the collection of accounts receivable from the debtors gives an opportunity for the accounts to misappropriate the firm's financial inflows. This is typically accomplished by lading, where accountants may spend the current period's receipts and wait its recording until a later date when they receive further cash flows.

Is the debtor's account up-to-date? Does the account for the creditor match the account for the purchases?

The creditors account of a business keeps track of all accounts payable for a given reporting period. The account can expose the company to the possibility of financial misappropriation by accountants through fraudulent payments. An element of a financial crime, which is fraud, is taking an unfair financial advantage of the company. Accountants may pay nonexistent creditors or inflate the numbers to profit from such dishonesty. This may include providing misleading information to financial lenders in order to secure loans. In the absence of fraud, the creditor’s account and the purchase control account should be in accord, and any variances should be reconcilable.

Is there order in the general ledger? Does it represent the whole amount of the company's transactions?

The general ledger's goal is to operate as a book of original entries and record all transactions as they occur. Moreover, any alterations or omissions may reveal instances of possible fraud that are being concealed (Wells, 2002, p. 22).

When did you purchase the properties that you own?

Similar to government agencies, the private sector is increasingly requiring employees to disclose their wealth. An investigator can correlate the company's outflows with staff acquisitions by determining the date of acquisition of significant property and assets. For instance, Sonya Causer made substantial investments during Clive Peeters' period of difficulty. There may be a correlation between the loss of corporate money and the personal profits of employees, particularly accountants.

Do you maintain current payroll records?

A current payroll ensures that an accurate employee roster is maintained. This reduces the likelihood of ghost employees. It is possible for accountants to forge papers such as modified payrolls. The investigator must determine if the internal control is capable of discovering fraud such as phantom employees (Tyburski, 2004, p. 10).

Do you keep an accurate asset register?

An asset register guarantees that a company keeps an accurate inventory of its assets. An investigator's duty is to determine whether or not these assets exist. The asset valuation and manner of disclosure are essential for detecting fraud. An accountant could keep track of nonexistent assets, providing an opportunity for fraud.

Which sections of the company's transactions is Sonya Causer authorized to approve?

An employee is not permitted to sign a document he has created (Singleton, Singleton, Bologna & Lindquist 2010, p. 156). Documents should be reviewed by a few individuals who were not involved in their creation. A situation in which Sonya Causer drafted and authorized a paper would be indicative of lax internal controls.

How are the processes involved in conducting transactions dissected? Are they managed by the same individual?

The separation of duties into tiny, interdependent procedures that are carried out by different individuals is one method for reducing the level of fraud in the accounting department. This makes collaboration in an accounting setting less feasible, hence reducing instances of fraud.

How frequently are cash account reconciliations performed?

Bank reconciliation aids in the prevention of embezzlement since variances between the cash on hand and the cash at the bank must be explained. To prevent fraud, bank reconciliations should be performed as frequently as possible.

What role do you play in the management of the small cash account?

A company's management of small cash is equally vital. The liquid nature of the funds may encourage theft from the kitty. The kitty should be examined on a regular basis to ensure that the cash on hand corresponds to the amount stated.

Who verifies the completed payroll before and after wage payment?

Before and after the payment of salaries and wages, the payroll should be inspected to confirm that all employees have signed it. Any unsigned void must be investigated. The officer responsible for counterchecking should be separate from the officer who prepared the document.

Who authorizes the receipt of rent?

Any receipt, including rent, must be authorized for fraud monitoring and detection. If a company obtains unauthorized payments, it may present an opportunity for the unaccounted-for funds.

How frequently does the accounting department rotate duties?

The rotation of jobs guarantees that no one employee is permanently accountable for a certain area or transaction. Failure to rotate staff affords them opportunities to discover and exploit system flaws.

Does senior management conduct routine audits, or do you randomly inspect the work of your subordinates?

The level of oversight of the accountant by the senior authority influences whether or not the accountant commits fraud. Due to the fear of being detected, accountants avoid fraud when their records are randomly reviewed. This may provide potential for fraud if Sonya is the most senior financial accountant without anybody to review his work.

What measures do you have in place to oversee the shipment of goods to customers?

Inadequate controls during the shipment of products may lead to fraud. Good control mechanisms in the stores guarantee that sold goods are correctly invoiced and that the quantity shipped corresponds with the records.

How frequently do you take leaves? Who was in charge of your responsibilities?

Providing accountants with frequent leaves to provide time for the assessment of the books by other parties is one of a company's measures for reducing fraud, particularly in the accounting department. If Sonya Causer has never taken a vacation, this could indicate a chance for deception.

Who is authorized to get revenue from investments and insurance premiums?

Certain firm earnings, including interest and premiums, must be approved by the board of directors. When a corporation gets funds with the proper authority, there may be potential for fraud.

Clive Peeters' Benish Ratios for Fiscal Years 2008 and 2009 (Note 1)

The sales receivable index for The Day is close to 1, therefore it is not manipulated. The asset quality index is near to one and is not artificially altered. The sales index indicates that the numbers have not been falsified. The ratio of total accruals to total assets is more than 0.018, indicating possible manipulation of one of the index's components.

2008 and 2009 Benish Ratios for Washington H. Soul Pattinson and Company Limited (Note 2)

Benish Ratios for ASX Limited for 2008 and 2009 Fiscal Years (Note 3)

Second-Half 2008 and 2009 Benish Ratios for Altium Limited and Controlled Entities (Note 4)

I do not believe that fraud contributed to Clive Peeters's demise. Sonya Causer's embezzlement is negligible relative to the company's financial flows. Even though the accused misappropriated $ 19 million, the company's cash flows are significantly more than this amount and hence do not justify the subsequent collapse. My opinion is predicated on the assumption that the claimed amount of fraud is true. There is a potential that the accused stole a larger sum of money.

Bibliography

Note 1: Annual Report of Clive Peeters Limited for 2009 (ABN 52 058 868 018). Web. Note 2: Financial report for Washington H. Soul Pattinson and Company Limited as of July 31, 2009. (A.B.N. 49 000 002 728). Web. Note 3: Annual Report of the Australian Securities Exchange for 2009 (ABN 98 008 624 691). Web. Note 4: Half-Year Report for Altium Limited and Controlled Entities as of December 31, 2009 (ACN 009 568 772). Web.

References

Singleton, T.W., Singleton, A.J., Bologna, G.J., & Lindquist, R.J. (2010). Fraud Auditing and Forensic Accounting.

Stafford, A. (2005). "Privacy In Peril." PC World, pp. 1-5. Web.

Swartz, N. (2004). "U.S. states disagree regarding online access to court records." Information Management Journal, vol. 38, no. 3, online.

Tyburski, G. (2004). Introduction to Online Legal, Regulatory, and Intellectual Property Research.

Wells, JT. (2002). "Occupational Fraud: The Audit as a Deterrent." Journal of Accountancy, pp. 1-5.

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Yahoo’s Development. Organizational Research And Theory College Essay Help Los Angeles

Introduction

Yahoo was formed as a startup in order to give internet users with directories that would allow them to categorize their searches utilizing the company's sophisticated search features. However, the fast changing technological environment of the industry rendered the manually altered directories obsolete as the amount of information on the Internet grew, making this method of directory construction challenging. This case study illustrates Yahoo's evolution since its founding and the business transformations the company is through as a result of the rapidly changing business environment. Yahoo's lack of business focus is the primary issue that may be recognized.

Analysis of the Issue

Yahoo's environment

In the 2000s, Yahoo's external environment had become extremely competitive. The novelty of the business had worn off, and with the dot-com bust, the company faced new competitors in the search engine industry, such as Google and AOL. Internet service providers, such as MSN, Google, AOL, etc., charged users time-based fees for internet access and email service. Previously, firms charged users for each email they sent. With the introduction of Netscape, free Internet search engines such as AltaVista, Inktomi, etc. became available. Yahoo introduced a new service with their advanced directory search. Many ISPs attempted to get as many customers as possible in order to generate the greatest amount of advertising income. The Internet quickly transitioned from a fee-pay basis to a free approach. Yahoo was involved in a variety of Internet business sectors, including search engines, auctions, and product-selling portals comparable to Amazon.com, etc. After the dot-com bubble burst, Google completely altered the environment. Google's innovative business strategy and social networking sites, which offered users extensive customization and personalization, posed a significant threat to Yahoo. In addition, Google revolutionized internet advertising and cross-sponsored website adverts. With the introduction of social networking websites, the cyber conflict acquired a new level of intensity. MySpace and YouTube let users to customize their online pages. In the era of new technology-based social networking sites, Yahoo’s Geocities was a “outdated” platform. Yahoo was slipping behind as the industry transitioned to a new generation of technologies in search engines, social networking, and e-marketing.

Yahoo's corporate structure in 2006

The issue that Yahoo identified in 2006 was its content-driven strategy. Yahoo faced challenges from other ISPs, such as Google, that were gradually entering sectors where Yahoo was the market leader, such as email service. Further internal concerns surrounding the creation of highly valued content arose, hence decreasing the company's profit. Yahoo's lack of concentration on a particular business sector was cited as its primary flaw.

In 2006, Semel centered Yahoo's efforts on search engines because he recognized that search engines can boost ISP expansion. In lieu of human editors or ‘surfers’ as it had previously, Yahoo now has a contract with small “crawler-based” search providers who can offer answers to user inquiries when its human-edited system fails.

The second approach noted by Semel was Google's ability to generate significant volumes of advertising income by matching advertisers with the most relevant search queries and maximizing user clicks. Customizing each advertisement that may generate online transactions was the method that helped Google. Yahoo imitated Google by adopting a personalised advertising strategy. In addition, Yahoo entered into an advertising and marketing partnership with eBay, which allowed Yahoo to create tailored advertisements on eBay's website.

The corporation also underwent a structural modification in 2006. The adjustment was intended to better connect the company's management structure with its business model. The corporation intended to increase its emphasis on its more profitable online services and cease product development. Additionally, Yahoo opted to eliminate the weak items. The new structure had three cores, which would be led by three chief executives, and these chief executives would report to the company's CEO (see figure 1). According to Semel's reorganization, he would continue to serve as the company's chief executive officer, Susan Decker would become the chief operational officer, Nazem would manage the new technology development vertical, and another executive will be chosen to lead Yahoo's website audience. The structure was entirely customer-centric, as the verticals were designed so that the company could focus on its three primary customers (internal and external). Internal customers, i.e., the technology development team, who created new goods to keep the firm ahead of the competition, were the final group to be satisfied. In addition, this vertically oriented functional structure emphasizes the company's goals of increasing Yahoo usage, advertising revenue, and the development of new technologies.

Figure 1 depicts Yahoo's organizational structure in 2006 Strategies for Managing Symbiotic Resource Interdependencies and Yahoo

Yahoo relies on other Internet portals to give its users with fresh and current material. Yahoo's initial approach consisted of collecting resources such as Geocities.com, Koogle, etc. Then, for product bundling, Yahoo utilized its comprehensive web directory to increase its advertising revenue. The income from advertisers was received on a per-click basis. Yahoo's advertising strategy faltered after the introduction of Google, and the company began to entice advertisers with its superior search technology and instant messaging services. Since 2006, Yahoo has contracted with major American newspapers to deliver internet content and job postings. Yahoo continues to acquire companies such as AdInterax and Rich Media to expand its supplier network. Thus, Yahoo's approach for symbiotic interdependencies consists of mergers and acquisitions.

All Levels of Yahoo's Management's Capability to Analyze the Environment

The company's CEO, Semel, correctly identified the areas in which Yahoo needed to concentrate its efforts. According to Semel, Yahoo's primary issue was its lack of focus, which could be maintained through various forms of strategy. The strategy he devised was to see them through the lens of the company's three fundamental tasks, namely client orientation, which could apply to various business areas, new technology development, and finances and revenue creation. Therefore, Semel focussed on transforming the company into an all-service site that prioritized its users and technology. Others, however, believed that downsizing could reduce costs and enhance profits, but this was not a viable option because it would have resulted in a drop in the company's stock price because it would have been its second downsizing effort in five years. Thus, the strategy to grow through its core business areas and focus on the company's most important clients, both internal and external, was the correct strategic step and would make the company's operations more concentrated.

External Environment Key Factors for Yahoo

In the twenty-first century, the Internet had become a highly competitive platform where users had access to free service providers and an abundance of information. The key to success in a highly technologically driven industry was to continuously improve its product offerings and supply regularly updated, fresh information. Yahoo's environment is characterized by a fast rate of change and intensifying competition.

structure of interconnections

The e-commerce sector had enhanced the interconnection between online businesses and traditional businesses. There has been a significant migration of content producers such as newspapers, new channels, etc. to the Internet and an increase in the interconnectedness of the new information-transfer medium. The shift from billboards, radio, and news channels to the Internet as an additional advertising medium is projected to continue. Therefore, there is an increased necessity to connect these earnings with other business sectors in order to boost the company's advertising revenue.

Rapidity of alteration

The Internet is a fast-paced and ever-changing industry, whose modes have shifted drastically over the past two decades. Numerous businesses have been and continue to be driven to extinction by technological advancements. As a result, ongoing innovation and the introduction of new products are crucial, as customers have become more demanding as a result of the shifting industry structure.

The scope and nature of rivalry

The industry's competitive environment is intense. Google and Microsoft are significant competitors to Yahoo in the internet economy. The biggest area of competition emerges in the search engine business where Google is the leader. Google's business plan has been a resounding success due to the unique combination of creative technology and a search engine that allows them to generate income from adverts. Current Internet business competition relates to search engines and advertising revenue. How can the companies become internet users' preferred search engine? This aspect will improve the advertising revenue earned by companies. Even tiny businesses can enter the Internet business, as the industry's entrance barrier is insignificant. As a result, competition in the sector is intensifying. The internet features a high level of competitiveness, simple industry entry, and rapidly evolving technology. Maintaining competitiveness in this industry is crucial. Innovation is one way for retaining competitiveness. Continuous innovation will enable the organization to retain harmony across all of its business divisions and make its portal the user's favourite website. Further, in a competitive economy keeping old and attracting new clients is very vital. Innovating its goods, whether in the content, search engine, or other areas, will allow Yahoo to maintain its advantage over rival dot-com enterprises. Thus, a better level of innovation will boost the company's advertising revenue and the satisfaction of its web visitors.

Conclusion

Yahoo began operations with a solid business model and a distinctive product offering. However, the company's performance declined since it failed to develop and provide users with new services. After the dot-com crash, increased rivalry and a shifting Internet business structure caused the company to lose significance to rivals like Google. The company's core business, search engines, was losing income and usage to technologically superior competitors. In contrast, Yahoo lost its concentration when it adopted a more varied business approach. In 2006, the company restructured its management in order to maintain its focus on its core business and to strengthen its position as a preferred entrance search provider.

Reference

Jones, G. (2010). Organizational Theory, Design, and Change. Sixth edition. Pearson, New York.

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Entrepreneurship And Marketing: Finding A Connection College Essay Help Los Angeles

Table of Contents
Introduction Marketing's Benefits Conclusion Bibliography

Introduction

One of the most crucial business abilities is the ability to anticipate client expectations and design an organization's strategy accordingly. Marketing is one of the finest ways to adapt to the dynamics of the present corporate environment and set the list of objectives that must be achieved in order to gain momentum and expand the client base, despite its frequent neglect (Dwivedi et al. 39). To determine whether consumers trust specific items and desire to follow a particular company's updates, businesses must monitor customer feedback and display their services or merchandise in a manner that would appeal to potential customers. Marketing tactics and actions that enhance the communication process and make feedback apparent are used to establish a constant link between the stakeholders.

Marketing can also be used to determine whether a company is a good fit for the market and what can be done to better the current situation. The ideas of status, demand, relevance, and competitiveness are also relevant to marketing and may serve as a set of predictors for the rate at which the organization will achieve its goals and realize its vision. When designing a business strategy intended to appeal to a diverse customer base, marketing is an indispensable tool that cannot be neglected (Gupta et al. 5675). Thus, firms construct business plans linked with the most recent societal, economic, and consumer purchasing trends. The purpose of this study is to demonstrate that promotion and a distinctive approach to company and product presentation exemplify an exceedingly unusual and never-to-be-underestimated marketplace advantage.

Advantages of Marketing

First, marketing can be used to attract additional clients to the present firm and engage them with the most alluring offers, as determined by the managers. Marketing may act as a communication facilitator when customers agree to participate in an organization's incentives despite being dissatisfied with how the organization handles their requests (Chaffey 101). Instead of blatantly pushing new products and services on dissatisfied customers, the corporation may utilize marketing in a different way to address the issue. When the management builds anything new, it will reap substantial benefits since customers will financially support the projects. Marketing is a tool that may be used to teach consumers something new and expose them to an expanded knowledge base or a product that surpasses buyer expectations (Ruiz-Molina et al. 9). All types of data could be utilized to engage customers and foster a feeling of community among them, as seen by the current firms' widespread digitalization.

On the other hand, marketing initiatives are one of the quickest ways to enhance the reputation and growth of a firm. In order to establish connections between how customers view the brand and the profits that the firm earns as a result of its activities, a growing company must address its marketing capacity (Lee and Kotler 47). It may be acceptable to argue that brand equity depends on the effectiveness of the marketing strategy, since the firm could never succeed without a positive reputation. Noting that marketing is also founded on consumer expectations, it is important to remark that effective promotion allows for enhanced corporate accountability and a redefined concept of loyalty in which both employees and customers support management actions (Erevelles et al. 900). When an organization employs marketing well, people will be glad to associate themselves with the company's services and merchandise. Corporate social responsibility, accountable branding, and successful communication are inextricably tied with savvy marketing.

The third common advantage of marketing for firms is that it facilitates the development of long-lasting relationships with all stakeholders. The fact that customers trust their brand and acquire items and services regardless of price may indicate that an innate understanding between the business and purchasers has a greater impact on purchasing behavior than the price of goods or services (Keegan 38). Through the marketing interface, businesses develop close ties with their customers. In contrast, management is responsible for conducting all relevant research and identifying the strategy's weakest points. Variables such as consumer behavior, demography, and psychographics could impact the efficacy of marketing campaigns. With adequate segmentation, the business would effectively address varied buyer expectations and give customers with the essential items and services at the appropriate moment. It gradually develops brand loyalty and subtly compels consumers to acquire more products from a certain company (Cheng and Liu 326). The majority of business actions begun by savvy marketing would result in improved profits and satisfied customers.

An conversation with a business owner revealed that marketing is one of the most effective communication channels for learning about client preferences and expectations. When potential buyers learn more about the services and goods they could receive, they will be attracted to the thought that their comments could help enhance the quality of future manufacturing and attract even more buyers to the brand. Such heightened awareness may become a crucial competitive advantage in the future, enabling the business to distinguish itself and become an advocate for high-quality products and satisfied customers. Similar sentiments are expressed in Chaffey's book, in which he asserts that the majority of competitive strategies employed by businesses derive from their marketing prowess (50). Therefore, communication develops a relationship between customers and businesses and assists the former in articulating the advantages of such a partnership.

An CEO from a tiny local business provided the final marketing-related advantage. They asserted that marketing is the most effective method for maintaining relevance and remaining sufficiently disruptive to challenge the residual market and achieve new competitive advantages. The opinion of consumers regarding a product is what propels every firm ahead. This is why the bulk of opportunities a company has when establishing its marketing campaigns are intimately tied to how potential and current customers perceive the company. According to the executive, no company should ever presume it will be the client's preference forever. In their book, Lee and Kotler assumed that every consumer-business connection must be periodically updated to remain relevant (63). Instead of appealing to new clients, the company should always focus on retaining its current clientele.

Conclusion

It is apparent that marketing is an indispensable component of business that cannot be eliminated from the formula for success. When a business owner hopes to earn a profit from their activities, they collect a variety of digital and physical data in order to make informed and evidence-based decisions. While lowering the number and weight of assumptions, firms may be able to communicate through marketing. If the corporation considers consumer expectations, it will simultaneously generate many competitive advantages and develop a forward-thinking corporate perspective. The latter demands the management unit and employees to understand how to interpret all the data that can be obtained with the aid of marketing and transform it into vital company insights that can be redirected to a different endeavor in the future. Without marketing, no industry could continue to operate for an extended period of time.

Existing dependence on all types of data makes it clear that marketing is rapidly becoming one of the most digitalized corporate sectors. Given that the limits of what a manager can achieve with the aid of advertising and promotion are practically infinite, it may also be recommended to invest more resources into further research on how marketing can increase profits. The benefits of marketing discussed within the scope of this paper can be characterized as indispensable because they are independent of the type of business and available budget. The increasing number of prospective leads is evidence that the target audience dictates business trends and creates an environment that fosters and supports positive change. A team of professionals who can interpret data gathered through marketing is an exceptional organizational unit that must be guarded at all costs.

References

Digital Marketing, Pearson UK, 2019. Chaffey, Dave.

Cheng, Jui-Hung, and Shuo-Fang Liu. Innovative Product Marketing Strategies for Technological SMBs: A Study Journal of Interdisciplinary Mathematics, volume 20, issue 1, pages 319-337, 2017.

Affiliate Marketing: An Overview and Analysis of Emerging Literature, by Yogesh K. Dwivedi et al.

The Marketing Review, volume 17, issue 1, pages 33-50, 2017.

Big Data Consumer Analytics and the Transformation of Marketing. Journal of Business Research, vol. 69, no. 2, 2016, pp. 897-904. Levelers, Sunil, et al.

Gupta, Suraksha, et al., "Marketing Innovation: An Outcome of Competition."

Journal of Business Research, volume 69, issue 12, pages 5671-5681, 2016.

Keegan, Warren J. Global Marketing Management. Pearson India, 2017.

Lee, Nancy R., & Kotler, Philip. Social marketing: altering behaviors for the better. Sage Publications, 2015.

Ruiz-Molina, María-Eugenia, et al. “Relational Benefits, Value, and Satisfaction in the Relationships between Service Companies.” Journal of Relationship Marketing, vol. 14, no. 1, 2015, pp. 1-15.

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Vulnerability Management Solutions College Essay Help Los Angeles

Table of Contents
Introduction Analysis of the Nessus Vulnerability Report The Economic Case Nessus Purchase Suggestion Concluding Remarks

Introduction

In the modern world, several risks target software that manages databases for institutions. In a technologically exposed world, information has become valuable, prompting businesses to take every measure to preserve it. Hackers discover new methods for bypassing software security mechanisms. In order to protect their assets, businesses build improved or sophisticated security solutions. In preference, vulnerability scanners are utilized in vulnerability management solutions. Tenable Nessus is among the most prevalent vulnerability scanners worldwide. Evaluating and debating Nessus reports will equip Mercury USA with a legitimate method for addressing risks.

Analysis of the Nessus Vulnerability Report

A Nessus report examines a range of a system's key infrastructure. A non-technical staff member may not comprehend a scanner's report. Therefore, it is vital to interpret the report in straightforward language for the benefit of the executive leadership. The Nessus scanner report is comprehensive, well-organized, and covers all pertinent information regarding network system dangers. The Nessus scanner report includes the severity of the threat, a Common Vulnerability Scoring System (CVSS) score, and a description of the threat. Therefore, the report affords the IT professional the opportunity to formulate a strategy for addressing the network threat. Through the CVSS score, which correlates corporate threats with industry standards, it also identifies the most important areas for improvement. In any organization, I find the Nessus scanner to be effective and efficient.

Before going into the report, one can determine the amount of urgent issues that require immediate care. For example, the 192.168.1.10 record in the given report contained zero critical, one high level, one medium level, and zero level threats. Therefore, the security staff should prioritize the high-level danger. The study for 192.168.1.25 showed no critical network security concerns. The fourth report revealed an improvement in network security, with just one threat of medium severity. However, the third report found five critical, one high, and twelve moderate system threats. The fact that the SMB server does not require a login is the first vulnerability.

In order to mitigate the threat, the organization must create users with login credentials. Both of the company's operating systems are out-of-date, which is the second weakness. Windows and Unix can be remedied by installing crucial security updates. Lastly, all versions of SSL contain cryptographic vulnerabilities due to the statement "SSL Version 2 and 3 Protocol Detection." An attacker can exploit the vulnerabilities to compromise the system. The business should consider deploying a medium-level encryption suite to prevent network intrusions.

The Economic Case

The analysis indicates that Mercury USA's system security risk is moderate. The rating is based on four reports, three of which include no major problems. The third report contained five serious dangers that were swiftly dealt with. A second scan of the system discovered few instances of potential system hazards. The Nessus scanner evaluates many systems, including laptops, printers, firewalls, databases, and servers. The system then identifies hazards by probing each machine and creating a report [1]. A vulnerability scanner examines and catalogs potential network system vulnerabilities. Potential threats discovered by the scanner enable Mercury USA to do a risk assessment and prepare a contingency plan.

The Nessus scanner discovers network access points and open ports, and matches configuration data with known vulnerabilities. The scanner then uses the collected data to identify known system vulnerabilities. The scanners map threats using a secure database containing data on publicly known vulnerabilities [1]. Based on the CVSS correlation, the report identifies SSL Version 2 and 3 Protocol Detection as a high threat. Consequently, the investigations suggest that a hacker could compromise the system by exploiting cryptographic weaknesses in the SSL network. The absence of login credentials on the SMB server gives any intruder access to the device's data. The Nessus Scanner may also use scan data to generate metrics, dashboards, and reports for various audiences [2]. As stated previously, a white hat hacker exfiltrates data via the SMB server because it does not require authentication. Additionally, the intruder can exploit the SSL network's cryptographic weaknesses.

Purchase Recommendation for Nessus

I consider the Nessus scanner to be quick because it generates comprehensive reports. Compared to some competitors, Nessus scanners cover a diverse range of technologies. It is also relevant because risks are mapped to the CVSS, an industry standard. Consequently, Mercury USA can use the CVSS score to meet the regulatory requirements. Operating systems, databases, web servers, and vital infrastructure are scanned by the Nessus scanner, making it suited for management. It provides a comprehensive perspective of network hazards, making it perfect for Mercury management and the organization as a whole. The corporation could consider acquiring the Nessus scanner, which is equally excellent at finding and documenting risks and their treatments. Tenable's one-year package without advanced assistance costs $2,790 [3]. The pricing is reasonable given the comprehensive quality of Nessus reports.

Conclusion

Nessus gives a comprehensive and systematic report on vulnerabilities, making it suited for the majority of enterprises. Nessus scanner is a crucial acquisition for a business because it gives CVSS ratings that enable the company to maintain industry requirements. I recommend that institutions get the Nessus scanner since it generates a report that can be understood by the majority of employees in any organization. The company benefits from the fact that its data is safeguarded. Because the report is easy to comprehend, employees will recognize and respond to threats, and management will be able to take the appropriate safeguards based on the staff's interpretation.

References

El, Malaka, Emma McMahon, Sagar Samtani, Mark Patton, and Hsinchun Chen. An experiment involving SCADA devices and scientific instruments to benchmark vulnerability scanners. Pages 83-88, 2017 IEEE International Conference on Intelligence and Security Informatics (ISI). IEEE, 2017. Russo, Pietro, Alberto Caponi, Marco Leuti, and Giuseppe Bianchi. A web-based vulnerability assessment and cyber risk management application. ” Information, vol. 10, no. 7, pp. 242, 2019. Purchase Tenable Solutions on the web. Web.

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Strategic Human Resource Management: Concepts And Cases College Essay Help Los Angeles

Strategic human resource management (SHRM) is a method of managing an organization's human resource function in accordance with its goals and objectives. SHRM improves these tasks by tying traditional human resource practices to business strategy and the achievement of organizational objectives, so enabling the firm to gain a competitive advantage.

SHRM's Importance in Organizations

According to Wei (2006), a properly designed and implemented SHRM can aid in the accomplishment of organizational objectives. All of the organization's employees must be committed to achieving clearly defined goals. It is the responsibility of the organization's human resources department to identify the business sectors that require human resource competence. Therefore, SHRM assists organizations in achieving their long-term and short-term goals. It contributes by supporting and supervising the successful implementation of the business strategies of the organization.

Due to the increasingly competitive nature of the globalized business world, organisations must integrate their human resource operations with their business strategies in order to gain a lasting competitive advantage in the marketplace. Strategic human resource management contributes to the achievement of organizational objectives by assessing the contribution of each employee using performance measurement techniques. SHRM also assists by enhancing the relationship between the human resources department and line managers.

SHRM also aids in attracting and retaining the most qualified employees, which enables the organization to realize its objectives (Becker & Huselid 2006). In addition, the strategic human resource role helps the expansion of the organization by assuring the retention and effective management of acquired talent. A motivated workforce is essential for the growth of an organization.

SHRM also aids in the formulation of an organization's vision and interconnected values, which provide a conducive work environment for the accomplishment of the organization's goals (Fitz-enz 2000). SHRM grants employees the authority to carry out their jobs and the flexibility that can inspire creativity. Such adaptability and accountability can enhance an organization's efficiency.

Strategic human resource management broadens the skill set of an organization's personnel, allowing them to acquire the talents necessary for the organization's strategic growth (Armstrong 2008). Due to the dynamic nature of corporate environments and information technology, constant learning and skill development are crucial.

The Contribution of SHRM to the Achieved Objectives of an Organization

By encouraging active participation in community issues, Merton Campaign Society attempts to foster a safe environment for its constituents. Merton Campaign Society's strategic human resource role is oriented toward making the local neighborhood a secure environment for all people. SHRM encourages employees to identify with and contribute to the achievement of the organization's values and goals. It fosters a climate of trust and a sense of unity among Merton Campaign Society's personnel.

In addition, the SHRM at Merton Campaign Society has established a culture of performance that encourages productivity, expansion, and customer service. The organization employs strategic human resource management to enhance employee relationships and foster cooperation between managers and workers. It has a reward management system in which employees whose performance is excellent are identified and rewarded accordingly. This encourages employee dedication to company objectives and discretionary conduct (Bamberger & Meshoulam 2000).

A five-tiered system can be utilized to determine the current and future resource requirements of an organization. The technique includes the identification of corporate objectives, the analysis of internal and external environmental factors, a gap analysis, the measurement of progress, and the evaluation and reporting of progress (Hall 2002).

Considerations for Human Resource Planning

Numerous internal and external business factors influence the development and implementation of human resource planning. Once an organization has determined its objectives, it is essential to do a workforce study to assess its future needs.

Among the internal elements that an organization must examine are its organizational strategy, its organizational culture, and its location (Beardwell & Claydon 2007). Merton Campaign Society, for example, connects its human resource planning with its business location in and around London, as the majority of its staff dwell in and are from the city.

Government restrictions, economic conditions, technological improvements, and labor demographics are some of the external elements that impact human resource planning (Torrington et al. 2009). Economic changes impact both the talent pool available for employment and the organization's capacity to acquire new employees. For instance, a poor economy could compel the corporation to reduce its workforce. To prepare for changes in the job market, the organization must comprehend both global and regional economic trends.

According to Sims (2002), technology trends also impact human resource planning. New technologies can lead to layoffs, especially if they reduce the amount of work required. Although such advances can cut production costs, they eventually have an impact on human resource management since staff must be trained to operate the technical devices and software.

An Evaluation of Human Resource Needs at the Merton Campaign Society

Marchington and Wilkinson suggest that successful recruitment must be in line with the organization's goals and vision (2008). Using a gap analysis, the present and future human resource requirements of Merton Campaign Society can be determined. After evaluating Merton Campaign Society's human resource needs, it is clear that the majority of employees lack the requisite recreational and volunteer abilities for the company's growth.

Using the methodology of labor demand forecasting, Merton Campaign Society may predict its future human resource needs. The bottom-up managerial judgment technique indicates that managers will likely require additional staff.

As a business expands and evolves, its human resource needs are likely to increase. Merton Campaign Society must identify competent and compassionate staff who can aid the organization in achieving its goal of safeguarding the safety of its inhabitants. Based on the results of the gap analysis, the areas of Merton Campaign Society that require more focus include training, recruitment, and reward programs.

A Human Resource Plan for Merton Campaign Society Over the Next Three Years

The plan for managing Merton Campaign Society's human resources indicated above focuses on important areas requiring special attention as the organization expands. Using SMART analysis, the HRM plan's objectives have been established so that they are attainable and sustainable. However, the plan might have been strengthened with critical information regarding the available money for human resource activities and the procedures utilized to prioritize human resource projects. In addition, a description of how the deadlines will be met would have clarified the approach. In addition, long term plans should have been divided from short term plans.

Organizational Human Resource Management Policies' Purpose

Human resource policies are a set of official regulations and directives developed by human resource departments to control the recruiting, evaluation, training, compensation, and termination of personnel. These rules and practices must adhere to all applicable labor laws and regulations. In addition to addressing equality and equity, benefits, working hours and leaves, employee discipline, intellectual property, and drug use, human resource management policies also cover equality and equity, benefits, working hours and leaves, employee discipline, and intellectual property.

Human resource policies contribute to the establishment of organizational structure and culture within an organization's context. If some policies, such as those governing workplace safety, performance evaluation and appraisal, employee discipline, and working hours, were repealed, the majority of organizations' work environments would be entirely disorganized. In this regard, HR regulations govern interactions between employees and managers as well as contacts between employees.

Human resource policies are created to supervise employee welfare and guarantee equality (David 2004). These policies guarantee equal job opportunities and treatment in the workplace. Therefore, human resource policies safeguard employees from exploitation and unjustified discrimination.

Additionally, HRM regulations facilitate performance management and the upkeep of excellent HR practices (Boxall & Purcell 2003). These policies are essential when analyzing corporate performance and human resource operations. In addition to facilitating the implementation of best practices, HRM policies promote consistency and productivity. This is essential in human resource management since inconsistency can lead to worker unhappiness and workplace conflict. Not only do HRM policies aid in the formation of strategic objectives, but they also aid in the formulation and revision of an organization's strategic direction.

The Effect of Regulatory Requirements on an Organization's Human Resource Policies

There are numerous legal requirements that govern employer-employee interactions and the work environment. The Employment Act of 2008, for instance, outlines the fundamental terms of employment for commercial and public sector employees. The act applies to all forms of work with the exception of the military and the police, whose sensitive job descriptions are covered by the Armed Forces Act of 2008 and the Police Act, respectively. The Hiring Act outlaws both forced labor and the employment of minors. It also prohibits job discrimination and discusses working hours.

Other forms of law that cover human resource policies include the Employment Relations Act of 2004 and the Employment Rights Act of 1996, which address employee interactions and rights and obligations. Other Acts prohibit all forms of job discrimination, including the Disability Discrimination Acts of 1995 and 2005 and the Sex Discrimination Act of 1997. The Equal Pay Act of 1970 governs wage and salary standards.

Organizations are required to comply to the legal requirements of the locations in which they operate when formulating their strategic human resource management policies (Shih & Chiang 2005). In addition to local regulations, international labor laws also influence the creation of human resource management policies. By adhering to these rules, a business can avoid the costs connected with costly lawsuits and government fines.

The Influence of Organizational Structure on Human Resource Management

Organisational structure can be viewed as the method through which companies allocate responsibilities and distribute information within the organization (Marchington & Wilkinson 2000). Organizational structures can be tall, flat, hierarchical, centralized, decentralized, functional, matrix, networked, or divisional. Managing tall structures is tough because there are numerous staff classes. As personnel are ranked by levels and sub-levels, hierarchical systems are generally simpler to administer.

In contrast to decentralized arrangements, in which decision-making authority is assigned to empowered corporate personnel, centralised organisational systems favor clearly defined leadership and decision-making responsibilities led by the company headquarters. The components of functional organizational structures, on the other hand, are well defined, making them simple to comprehend. Matrix organizational structure mimics network structure due to its emphasis on the establishment of teams of professionals from diverse regions of the organization. Due to the fact that roles, relationships, responsibilities, and information flow are dependent on the current structure, all of these types of organizational structure impact the administration of the human resource function in organizations.

HRM Effects of Organizational Culture

Organisational culture is a collection of common meanings perceived by members of the organisation that distinguishes them from other organisations. Culture is therefore more important than structure and politics for the overall success of an organization. Hofstede suggests that certain cultural characteristics characterize organizational culture, such as masculinity and femininity, individualism and collectivism, and the influence of social hierarchy (Gerhart & Fang 2005). Other cultural theorists, including as Schein, Scholtz, and Handy, have also attempted to explain the connection between organizational culture and human resource management.

The primary function of organizational culture in human resource management is to define procedures and provide meaning to life inside and around the organization. Organizational culture influences major objectives, work methods, and interpersonal interactions. Various management styles, including autocracy, democracy, transactional, and laissez-faire, rely on and influence organizational culture.

Other effects of culture on human resource management include the lowering of conflict owing to uniformity, coordination, and employee motivation. Additionally, organizational culture helps to the attainment of competitive advantage.

How to Evaluate the Performance of Human Resource Management

Merton Campaign Society performs succession planning for its staff to ensure the availability of qualified candidates for open positions. In addition, training and development at the Merton Campaign society are evaluated using indicators of job effect. The company's profitability is also analyzed using quantitative metrics such as the benefit-to-cost ratio.

HR auditing, in which the value of a company's human resource department is determined, is a method for assessing the effectiveness of HRM. The extent to which employees are involved with their employers can also indicate the efficiency of management. Periodic surveys can be used to determine the level of employee engagement.

A workforce scorecard can also be used to evaluate the contribution of employees to an organization. Numerous organizations utilize human resource information systems effectively for benchmarking and monitoring HR performance. Benchmarking compares particular performance tools to the data collected by other firms using the same techniques.

Recommendations for Enhancing Merton Campaign Society's HRM

Despite the fact that Merton Campaign Society's Human Resources department has had a great deal of success in supplying the labor necessary for firm operations, there are still areas that demand development. The organization might conduct additional value evaluation surveys to evaluate the direct contribution of its personnel. In addition, external benchmarking can help the organization evaluate the advancements achieved by other security industry companies.

Personal Statement

Understanding the changing nature of human resource requirements and the need to build flexible strategic human resource policies and plans has been facilitated by this unit's fundamental concepts. This course will help me in my capacity as a human resource manager to properly oversee the definition of my organization's human resource requirements and the effective management of my organization's personnel. I did not fully appreciate the impact of the business environment on human resource decisions when I began the course. This unit has undoubtedly opened my eyes in this area.

References

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Boxall, P., and Purcell, J. (2003). Strategy and human resource management. New York: Palgrave Macmillan.

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American Management Association, New York, New York, Fitz-enz, J. (2000). The ROI of human capital: assessing the economic worth of employee performance.

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Marchington, M., and Wilkinson, A. (2008). Human resource management in the workplace: people management and development.

Strategy alignment between HRM, KM, and company growth.

Sims, R 2002, Organisational success through effective human resource management, Quortum Books, Westport, CT.

Fundamentals of human resource management: managing people at work, Pearson Education, Harlow, 2009. Torrington, D., L. Hall, S. Taylor, and C. Atkinson.

Strategic human resource management: factors of fit. Research and Practice in Human Resource Management, vol. 14, no. 2, pp. 49-60, 2006.

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