Alternative Working Capital Policies For Lawrence Sports Descriptive Essay Help

Table of Contents
Introduction Alternate 1 Alternate 2 Alternate 3 Bibliography

Introduction

Managing working capital is a complex and dangerous endeavor. A manager is responsible for the company's daily cash flow and must balance factors such as collections, disbursements, future events, borrowing, bad debts, and loan repayment. The finance manager of Lawrence Sports is in an extremely precarious position. Due to the delayed payments of its business partners, the corporation has been forced to borrow money from the Central Bank. At the end of March and the start of April, it was required to borrow the maximum amount allowed, $1.2 million, at the maximum interest rate of 16%. To maintain the company's financial health, the finance manager must collect payments as quickly as possible and negotiate payment delays within a fair time frame. In this way, they will have the cash flow necessary to begin repaying the bank debt and avoid future loans that would be financially disastrous for Lawrence Sports. It should likewise avoid overextending its relationships with its commercial partners.

Alternative 1

The first possibility is to accept the requirements of the company partners in full and continue bank borrowing for the month of April. This means that Mayo will have until the week of April 14-21 to collect any outstanding receivables. At the same time, Gartner and Murray will maintain the current arrangements. Make a 40% down payment on a purchase with Gartner and the remaining 60% the following week. Murray requires a 15% down payment at the time of purchase, with the remaining balance due the following week.

The issue with this choice is that, beginning the following month, it will make it hard to continue in this manner in the future. Due to the bank's unmanageable loan, Lawrence will need to alter its method of collecting payments in order to generate enough revenue to settle the debt. It will require much more next month. This implies that the company will have to place more stringent standards on its business partners, which could result in agreement failure on both sides. It is an unacceptable substitute for pursuit.

Alternative 2

The second option is to radically modify the connection with commercial partners and adapt them to Lawrence sport's requirements. This entails making a snap decision to defer all payments to Murray until the week of April 14-21, taking a hard stance on Gartner by paying 40% on purchase, 20% in two weeks, and the remainder the following week, and requesting from Mayo that all payments be completed in the first week of April. This option provides Lawrence Sports with a very favorable cash position at the close of business. For the first three weeks of April, this closing cash sum will average more than $600 thousand per week. That will immediately settle the debt issue with the bank. The issue is that the company's connection with its business partners will deteriorate. It can generate major financial issues for Mayo and Murray in particular. In addition, it may provoke a negative response from Gartner, which has the authority to levy sanctions against our company as we are not among its largest clients. For instance, it may decide to withhold material shipments until payment is received. That will have disastrous consequences for the future of Lawrence Sports.

Alternative 3

The third option would be to strike a compromise between the business partner's wishes and the company's needs in order to maintain a positive relationship with them and protect Lawrence's financial future. Let us begin with Murray's relationship. It is the more accommodating of Lawrence's two vendors and will accept a delayed payment with the promise of business returning to normal following the financial crisis. Of course, we shouldn't stress too much because it could have a boomerang effect and affect Murray's finances, which would in turn harm our own (Wachowics & Van Horne, 2005). Murray can pay 15% the first week of April, 40% the next week, and the remainder the week after.

Next, focus should go to the largest consumer. Since Mayo is a premium customer, we can grant an additional week for payment of 80% of March sales for the first three weeks. This will provide them with time to balance their funds. Even while the request for a delay until the second week of April was not entirely met, it is important to remember that Mayo is one of the largest merchants in the United States and Canada, and is also expanding internationally, so it will be able to find the necessary resources after that week.

Finally, it would be preferable to maintain the current relationship with Gartner. As stated previously, we do not have 'first voice' as a premium client, therefore tensioning the relationships will affect us more than them. Maintaining great relationships with the supplier's companies can ensure their continued success (Mullins et al, 2008).

References

Mullins, J. W., O. C. Walker, Jr., and H. W. Boyd (2008). Marketing management: A strategic approach to decision making (6h ed.). McGraw-Hill Irwin, Boston.

J. Wachowics and J. Van Horne (2005). Fundamentals of financial management (12th edition). The publisher Pearson in Edinburgh.

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How Management Information System (MIS) Saved Souq Company? Descriptive Essay Help

Table of Contents
Souq Case Analysis Amazon/Souq Data Warehouse Customer Relationship Management as an Element of the MIS Customer Selection Customer Acquisition Retention of Customers Expansion of Customers Concluding Remarks

The 2019 Coronavirus disease (COVID-2019) has negatively impacted businesses, with the majority of employees opting to work from home. The majority of businesses, especially small and medium-sized organizations (SMEs), are fighting to survive the pervasive economic freeze. Even e-commerce enterprises have been affected, since their revenues have decreased. However, online-based businesses could use information management systems (MIS) to remain competitive and confront the increasingly competitive business environment, which has been exacerbated by the COVID-19 outbreak. As a means of enhancing performance, online businesses must preserve their core competencies by developing and keeping a distinctive system for collecting customers' information in order to comprehend their buy behavior and other elements. This paper will describe how Souq, an e-commerce company based in the United Arab Emirates (UAE) that was acquired by Amazon in 2017 (Sims, 2018), utilized MIS as a valuable tool to achieve competitiveness and boost its market share through the acquisition of consumer information. Before Amazon acquired Souq, it lacked the extensive systems and processes described in this paper for obtaining user data and leveraging it to improve performance.

MIS aids businesses and their systems in building an efficient synergy between the interactions of employees and consumers and information systems (Wu et al., 2015; Samer & Rawan, 2018). In addition, MIS generates reliable data that can be utilized in decision-making at multiple organizational levels, including operational and strategic levels. Souq benefited greatly from the integration of its information systems with the strategic objectives of its parent firm, Amazon, after its acquisition. The separation of Souq's website systems from its order systems was one of the company's most significant changes. The process of gathering and integrating data with a company's numerous activities is crucial to its success.

rationalizing operations Increasing the quantity of software used by e-commerce organizations has been susceptible to upgrades and adjustments, according to Demir (2017). Software configuration management is regarded as an indispensable instrument for managing the whole evolution and life cycle of software projects (p. 11). This component enables the use of customer relationship management (CRM) in e-commerce, which links customer information with marketing and service delivery.

Souq Case Analysis

Even though Souq was successful in the UAE market prior to its acquisition by Amazon, it needed the resources and experience to streamline its consumer data collecting in order to boost its worldwide market competitiveness. To become one of the major e-commerce platforms in the region, the company relied on Amazon's established and sophisticated management information system (MIS) to address its core issues. The integration of CRM and MIS into Amazon's overall business strategy are the two key technologies that have contributed to the company's success. According to Demir (2017), Amazon employs the "customer relationship management module under enterprise resource management to store personalized customer information and purchasing trends, which is integrated with the organization's marketing and advertising campaigns" (p. 12). The part that follows explains how Souq utilized Amazon's MIS to expedite its data collecting and customer management is presented.

Amazon/Souq Data Storage

Amazon's complex warehouse is linked to all of its activities, including sales, marketing, finance, supply chain, customer service, transaction control, enterprise resource planning, e-mail server, and web server. This warehouse, according to Bhat et al. (2018), is a "central repository for information that needs to be cleansed, transformed, and cataloged so that it can be used to analyze those data, thereby facilitating the organization of further decision-making data" (p. 24). Therefore, information is collected from all company operations and supplied to the data warehouse, where it is processed and analyzed to facilitate the making of informed decisions. By joining Amazon's MIS, Souq's management can now enhance performance based on data-driven decisions. Previously, Souq lacked such an advanced system.

Using logical analysis, Souq's MIS aligns its development and information system objectives with its broader organizational objectives. The MIS consists of networked machines arranged hierarchically to cover all areas of the organization from top to bottom. The initial level of the MIS collects customer shopping trends, inquiries, likes, dislikes, suggestions, and all other factors that can be captured as customers engage with the company's online platform. The data are subsequently transmitted to the second level for optimization and analysis. Consequently, the MIS is designed to continuously enhance synergy between the many organizational components through the gathering, storage, processing, and transfer of data, which is then analyzed using complicated mathematical formulas and statistical models to predict demand and shopping trends.

The MIS includes a component for customer feedback as a means of fostering customer involvement through interactivity. From the information provided by the clients, it is simple to find enhancement opportunities. Under brick-and-mortar business models, clients can submit written suggestions or vocally share their experiences with business owners. However, with e-commerce, user reviews are the most reliable method for determining what customers want and meeting their demands, resulting in increased sales. Therefore, Souq has a customer review system that permits the MIS to collect such information, evaluate it, and make it valuable for informing business decisions. For example, the majority of internet retailers lack warehouses where they may store items. In other words, the bulk of e-commerce businesses, such as Souq, offer a trading platform where suppliers can advertise their products for consumer access. Therefore, when a customer places an order, the suppliers fulfill it and the payment is processed via the platform. Therefore, platform owners such as Souq may not be able to confirm the quality of the products being sold. Therefore, client reviews become the standard by which suppliers' quality is measured (Elwalda et al., 2016). The aggregation of supplier evaluations enables buyers to make purchasing decisions based on the available data, resulting in greater income.

Management of Customer Relationships as Part of MIS

Customers are the lifeblood of a business, hence the success or failure of any firm is highly dependent on how they are managed. This statement is especially significant for internet firms for a number of reasons. First, the industry is extremely competitive, and the cost of migrating from one platform to another is little. In addition, a brand is established by satisfied customers who are willing to vouch for the organization. When it comes to e-business, the fact that business owners do not engage with customers face-to-face exacerbates the potential for problems if the proper management tactics are not implemented.

Souq utilizes Amazon's eCRM technology, which "provides the capability to capture, integrate, and distribute website data across the enterprise" (Al Imran, 2015, p. 10). The eCRM is meant to combine several channels, such as the Internet, various web browsers, e-mail, smartphones, and other relevant devices, in order to assist sales, marketing, and service delivery. The purpose of eCRM is to offer sufficient and useful data so that customers' requirements can be proactively identified and satisfied. This strategy promotes client happiness, resulting in additional orders. According to Al Imran (2015), a 10% increase in recurring customers results in a 10% increase in the company's revenue (p. 10). The purpose of managing customer relationships is to ensure that businesses have a comprehensive understanding of their customers. As a result, Souq employs Amazon's approach to CRM, which consists of a number of facets as shown below.

Customer Preference

Souq targets individual clients whose product preferences correspond with its own based on data provided by the MIS. After identifying the individuals who have the potential to become customers, an intensive marketing campaign is implemented to guarantee that these individuals are aware of the company's goods. Internet marketing could utilize a variety of techniques, including social media platforms, Google landing sites, and other online marketing strategies. Once the requisite exposure has been generated, traffic begins to flow to the platform, paving the door for the second step — customer acquisition.

Customer Acquisition

Everyone who purchases through Souq must create a profile account on the site. All customer information, including debit or credit card information, is maintained in a database supported by Amazon's sophisticated MIS. This information is crucial since the corporation knows the location, preferences, likes, dislikes, and even personality of its customers. With this wealth of knowledge, the company is able to adjust its products and services to the needs of its customers.

In addition, clients who purchase on Souq are encouraged to build a wish list to which they can add their preferred items. This strategy is a nuanced method for determining the preferences of clients. Product reviews are an additional direct marketing and consumer acquisition method. For instance, if a product has positive evaluations, there is a strong likelihood that consumers will base their purchasing decisions on that information. Therefore, if a client enters the website and finds a product with a 5-star rating, he or she is likely to be persuaded to purchase it, resulting in direct marketing for the brand. According to Al Imran (2015), Amazon enables a link "between the client, engaging with them and seeing their interests in order to build their trust and initiate word-of-mouth. During the first three months of 2000, Amazon recruited three million new customers at no cost (p. 10). Thus, Souq employs this method to grow its consumer base.

Client Retention

After obtaining customers, it is crucial to maintain their loyalty. Repeat customers are extremely valuable to businesses since there are no acquisition expenses connected with them, and they can easily become brand advocates by encouraging others to utilize the company's products or services. Marketing via word-of-mouth and referrals is one of the least expensive strategies to acquire new consumers. Customers can only be retained by satisfying their wants and providing the finest available services, which discourages them from transferring to competitors. Jeff Bezos, the creator of Amazon, once remarked, "Spend 70% of your time, energy, focus, and money building great customer analysis and 30% shouting about it" (Al Imran, 2015, p. 11). Amazon has taught Souq significant insights on customer retention, allowing it to increase its market share.

Client Extension

Expansion is a component of maintaining current clients. Souq's strategy includes the development of a platform that enables customers to communicate with one another. At the bottom of the product evaluation section, customers can add their own remarks or respond to the questions of others. Thus, the platform facilitates peer-to-peer customer connection. Customers' information may be viewed as more reliable than that provided by the corporation (Felbermayr & Nanopoulos, 2016). Therefore, positive feedback increases the credibility of the company's capacity to deliver on its promises to clients.

Conclusion

Souq is a predominantly UAE-based internet firm that was acquired by Amazon in 2017. Prior to the acquisition, Souq had numerous obstacles in gathering and evaluating client data for performance enhancement. While the company was prosperous, it lacked the resources to deploy strong MIS. With the introduction of Amazon's sophisticated data warehousing capabilities, the majority of the company's challenges have been resolved. Information about customer reviews, shopping tendencies, likes, dislikes, and desires is collected and analyzed using complex mathematical algorithms to make the data intelligible and useful for decision-making by management. Therefore, MIS is a powerful tool that might be utilized to save businesses from revenue-related issues.

References

Al Imran, A. (2015). Amazon's information systems, commercial tactics, and e-CRM are the subject of a research. Web. Bhat, P., and A. Bose (2018). Amazon's application of information systems: issues and views International Journal of Advanced Research in Computer Science and Management Studies, volume 6, number 1, pages 23-28. Demir, A. (2017). Amazon.com management information system case study. Journal of Business and Management Research, 4(11), 11-17. Elwalda, A., Lü, K., & Ali, M. (2016). Perceived characteristics determined from internet consumer reviews. Computers in Human Behavior, volume 56, pages 306-319 Web. Felbermayr, A., & Nanopoulos, A. (2016). The impact of emotions in determining the perceived value of online customer reviews. 36, 60-76, Journal of Interactive Marketing. Web. Samer, A., & Rawan, M. (2018). A research of Mutah University evaluating the role of management information system characteristics in managerial decision making. 8(5), 187-198. International Journal of Academic Research in Business and Social Sciences. Sims, S. (2018). Acquisitions: Walmart vs. Amazon. Wu, S. P. J., Straub, D. W., & Liang, T. P. (2015). The influence of information technology governance systems and strategic alignment on organizational performance: Insights from a study of business and IT managers. Mis Quarterly, 39(2), 497-518.

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The Arian Company: Case Study Descriptive Essay Help

As a medium-sized enterprise (MSE), the Arian Company (AC) is required to adhere to specific regulations and operate within specific parameters. These frames present a number of challenges, including interference with routine procurement procedures. The case study covers the responsibilities of an AC new buyer who faces challenges due to inexperience, the product's complexity, and the necessity for excellent quality. The purpose of this paper is to address these concerns and highlight their essential resolutions.

Purchasing Techniques

Initially, sourcing is one of the most important steps in the supply chain. It is the research and selection of suppliers who provide services or items required for manufacturing or selling procedures. A buyer is required to choose a supplier based on information about a variety of them. The decision may result in either favorable outcomes or a substantial loss of earnings. Therefore, it is essential to have an acceptable sourcing strategy while researching and selecting providers.

Depending on the requirements and conditions, a buyer may employ several subcategories of sourcing tactics. Basu, Ghosh, and Kumar (2019) classify sourcing techniques as foreign or domestic, as well as single or multiple. International sourcing refers to a worldwide sourcing strategy in which high-cost nations (e.g., Canada, the United States, and the United Kingdom) purchase materials from low-cost, resource-rich nations (e.g., China, Russia, and India). This method is generally employed for inexpensive commodities (e.g., T-shirts) or simple components, which equate to minimal capital expenditure and are hence lucrative. This sourcing method is unsuitable for AC, as the company's primary focus is on producing a high-quality product rather than maximizing profits.

Domestic or local sourcing, on the other hand, is a method that involves studying and working with local suppliers. Since the time zone, language, geography, and mentality are the same, it provides some benefits, such as more comfortable discussions and transportation. Moreover, local suppliers contribute to the development of consumer loyalty, as individuals tend to feel more confidence when purchasing things made using local, well-known materials. This approach satisfies one of the central AC's high-quality product requirements. Consequently, this method of sourcing is applicable and usable by the organization.

A single sourcing approach is selecting a single supplier to meet all of a company's demands. This method of sourcing reduces supply chain expenses by streamlining, simplifying, and consolidating the supplier base. However, single sourcing might be troublesome due to the difficulty in locating a supplier who can provide all the necessary materials and services. It is especially true for AC, as the product type and quality requirements are stringent. In addition, a single sourcing strategy exposes a business to significant supply interruption risks. This kind of sourcing is therefore not totally suitable for AC, although it can be used partially.

In contrast, one of the primary benefits of multiple sourcing over a single strategy is the availability of numerous alternative sources of materials in the event of a delivery disruption. Since orders in AC are typically urgent, it may be essential to contact another supplier in the event of an interruption. Furthermore, the time required for the preparation and delivery of supplies can be improved by dividing it among multiple suppliers. The diversified sourcing strategy is therefore suitable for AC and can be implemented to the company's supply chain.

The Selection Criteria for Suppliers

While implementing any of the aforementioned sourcing strategies, it is crucial to adhere to and strike a balance between specific supplier selection criteria, as this affects the subsequent steps toward achieving supply chain sustainability. According to Luthra, Govindan, Kannan, Mangla, and Garg (2017), these criteria fall under three major categories: economic, environmental, and social. Essential economic criteria for AC include product quality, technological and financial capabilities, product delivery and service, and required lead time. Prices, costs, and profits are also given in the economic part. According to the description of AC, economic considerations should be the primary focus while selecting suppliers.

Environmental criteria include green manufacturing and management, ecological costs and competencies, waste management, and pollution control. These characteristics might be regarded as crucial in terms of fostering customer loyalty, given that many individuals today choose to embrace an eco-friendly stance. Moreover, considering the nature of AC's product (protective workwear and equipment), making it environmentally friendly would be advantageous for the environment.

Not least among social criteria are workplace health and safety systems, employee interests and rights, and information transparency. The listed criteria can also be deemed ethical, as all three areas help to establishing customers' trust and loyalty by promoting the company's credibility. Therefore, it is vitally important to consider this part while picking a supplier.

Identifying Financial Difficulties of Suppliers

The term "financial difficulties" refers to a financial crisis in which a supplier (a corporation) has difficulty meeting its financial obligations (e.g., loan payments, debts). Typically, employees in such organizations are under a great deal of stress, which affects their performance and might result in a variety of manufacturing or delivery delays. Therefore, it is necessary to be able to identify suppliers experiencing financial difficulties and prevent all negative implications of doing business with them in a timely manner. According to Helmold, Dathe, Hummel, Terry, and Pieper (2020), certain “symptoms” can be identified as indicators that a business is experiencing a financial crisis. These indicators include imprecise revenue payment, excessive debt, overpriced assets, undervalued obligations, and a shift in accounting processes.

When a business has financial difficulties, it is likely to begin reporting fictitious earnings. This symptom can be confirmed by reviewing the SEC investigations on a company's website. In addition, one of the most prominent markers of financial troubles is excessive borrowing, which results in substantial debt. It can be determined by comparing the debt ratios of a company to those of its competitors. Thus, it is feasible to make assumptions about the financial health of a corporation.

Moreover, due to overpriced assets, a company's holdings may appear to be worth more than they actually are. In contrast, undervalued liabilities can contribute to the illusion that a company's debt is lower than it actually is. Observing newspaper headlines about the SEC or other state authorities investigating a company's financial statements can help to identify and suspect both issues.

Accounting method change may also be regarded a signal if recognized in a timely manner. Specific accounting regulations have been established by generally accepted accounting principles (GAAP). When a corporation submits a report, it must adhere to these guidelines. Occasionally, a corporation will offer a complete report in which it conceals significant issues. They can be discovered by reading the financial notes section's fine print.

Obtaining Reliable Information Regarding the Financial Difficulties of Suppliers

Considering the above facts, it would appear that exploring the websites of state organizations, such as FASB and SEC, is one method for obtaining accurate information on the financial health of suppliers. Examining financial articles and the opinions of government authorities in newspapers and periodicals is a related method. However, media material must be viewed with skepticism; it must be balanced, unbiased, and cover multiple perspectives.

Otherwise, it cannot be employed in a buyer's analysis with complete confidence. Additionally, as a third method of acquiring data, it is possible to locate and review publicly available company reports. These reports may be posted on an organization's website or kept in the archives. Then, the ability to read and analyze reports thoroughly is crucial. In the case of AC, delegating the job of searching for credible data, analyzing it, and forming resulting hypotheses to the analytics department is a viable alternative. Then, the information must be provided to the buyer for additional supplier selection options.

Supply Market Evaluation

Supply market analysis is a technique used to discover market characteristics for certain items. It gives the information necessary for the development of successful and effective procurement strategies. According to the Department of Housing and Public Works (2018), supply market analysis assists in gaining a strategic understanding of the market, including its work flow, competitiveness, sustainability performance and capabilities, and important suppliers. In addition, the study facilitates risk management by comparing vendors and estimating the likelihood of supply market failure. Consequently, supply market analysis is a fundamental step in the sourcing process.

Market and supplier information sources for the supply market analysis

The data for the supply market study must be meticulously acquired from a variety of sources. Neutrality is a key criteria for a buyer in this procedure. It is feasible to state that "much information may be gleaned from a preliminary 'desktop' analysis,” which consists of internet research and reading published papers, among other sources (Department of Housing and Public Works, 2018, p. 10). During the study, primary and secondary sources must be integrated to acquire a deeper insight of the market and more dependable data.

Researching secondary sources typically aids in obtaining pertinent background information regarding the market, suppliers, and related challenges. Secondary sources include online databases, legislation (e.g., the official website of the United States Congress), Media sources, and published company-specific details (e.g., marketing brochures, annual reports). However, the data from secondary sources must be validated and supported by data acquired from primary sources.

Primary information sources include conducting interviews with individuals who have a greater grasp and perception of the difficulties associated with the goods and services a company need. Suppliers, end-users of a company's products, and quality assurance auditors are examples of such individuals. A well-planned interview with representatives of these organizations is likely to yield more timely and meaningful information than several hours of secondary source research.

In the instance of AC, the buyer is able to schedule and conduct interviews with her main suppliers in order to obtain accurate information regarding their prior and current roles. In addition, she may negotiate with the previous purchaser to obtain additional background information. In addition, it is feasible to conduct a study among enterprises and employees who utilize AC-produced protective workwear and equipment.

Legal and Ethical Requirements for a Small to Medium-Sized Enterprise

Business ethics is a set of norms that all company members must adhere to. As a legal entity, the firm must also adhere to these rules. There are three primary types of business ethics, according to Van Landuyt, Dewaelheyns, and Van Hulle (2016): workplace ethics, deontology, and social responsibility. The primary criterion is that organizations must adhere to the relevant Constitutional provisions for their industry. Without exception, noncompliance to these statutes could result in a criminal crime. Therefore, it is necessary that AC also consider this main guideline.

Moreover, according to modern business principles, any company should offer equal opportunity to all employees. In other words, the administration must be impartial towards all employees and candidates. The latter should be interviewed regardless of age, appearance, or gender. Therefore, only abilities and skills should be evaluated and employed to make a final determination.

References

Basu, P., Ghosh, S., & Kumar, M. (2019). Supply interruption concerns can be mitigated via supplier ratings and dynamic sourcing techniques. Case law, 46(1), 41-57.

Housing and Urban Development and Public Works (2018). Provide a market study. Web.

Helmold, M., T. Dathe, F. Hummel, B. Terry, and J. Pieper (Editors) (2020). Negotiations in Businesses with Financial Problems Within Effective International Negotiations (pp. 201-213). Cham, Switzerland: Springer.

Luthra, S., Govindan, K., Kannan, D., Mangla, S. K., & Garg, C. P. (2017). A unified approach for the sustainable selection and assessment of suppliers in supply chains. Journal of Cleaner Production, volume 140, pages 1686 to 1698.

Van Hulle, C., Van Landuyt, Y., & Dewaelheyns, N. (2016). Employment protection laws and the performance of SMEs. International Small Business Journal: Researching Entrepreneurship, 35(3), 306–326, International Small Business Journal:

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Partnering With Non-profit Organization Descriptive Essay Help

A company's image is one of the key components required to build a competitive advantage and ensure that clients are willing to do business with it. For this reason, businesses should dedicate considerable effort to fostering a good attitude among clients and boosting their level of interest. Today, social issues are of the utmost importance as individuals strive to aid vulnerable groups and enhance the quality of individual lives. For this reason, a firm that places a great deal of importance on its image may benefit from collaborating with non-profit groups operating in many fields. Due to the existence of many difficulties in healthcare and the necessity to address them in order to enhance the health of nations, cooperation with a non-profit organization functioning in the industry can be considered as preferable. Because of this, Americares has been chosen as one of the potential partners.

The significance of this organization and its emphasis on providing treatment to the most vulnerable populations is one of the primary reasons for this decision. Americares is a non-profit organization with a focus on health that aims to aid those afflicted by poverty and natural disasters who are unable to acquire the necessary assistance due to their challenging living conditions (Americares, n.d.a). The organization delivers life-changing medicines, medical supplies, and numerous health programs that can enhance the quality of life for individuals and contribute to beneficial global results (Americares, n.d.b). There are also emergency programs meant to assist persons in distress in recovering from disasters and acquiring the necessary care (Americares, n.d.a). Working with the most vulnerable communities, Americares contributes significantly to the global development of community health and quality of life.

Diverse operations of the organization are geared to guarantee that persons in need have a shot at recovery. Responses to disasters such as earthquakes, tsunamis, disease outbreaks, or global pandemics, ensuring access to medicine, and delivering clinical services by collaborating with US partner clinics, Americares free clinics, and other non-profit organizations comprise the three primary domains (Americares, n.d.b). In this approach, the organization's principal tasks are tied to the problem of community health and are intended to achieve substantial progress in this area. Its operation is crucial to the evolution of modern society since it fosters a better world, characterized by fewer individuals in need. In addition, Americares benefits from the existence of various partners who share an interest in the organization's incentives and a desire to alter the world.

Currently, the chosen non-profit operates in North America, Asia, Latin America, Africa, and the Middle East, indicating that the scope of its activities and projects remains substantial (Americares, n.d.a). Americares operates in regions characterized by difficult social situations, high levels of poverty, and limited access to healthcare services (Charity Truth Experts, 2018). Therefore, its operation is crucial for large populations and is valued by numerous groups residing in various places. It also contributes to the organization's image development and its growing popularity in many regions. Americares can be seen as one of the most prominent and powerful non-profit organizations capable of initiating significant change and provoking people to consider existing issues (Charity Truth Experts, 2018). Its selection as a potential partner should be considered as helpful in this regard.

In general, it is important to stress the positive aspects of the partnership with Americares. First, the organization engages in crucially vital activities for the current world, and collaborating with it can contribute to the enhancement of the brand's image and the increase in client interest. Today, the healthcare industry is experiencing difficult times and need more assistance to face all obstacles; thus, for the company, it can be a good approach to assist communities and create a special reputation. Moreover, Americares operates on all continents and in various parts of the world, meaning that its partners may also publicize their brands in these locations. This characteristic is crucial for the development of a competitive advantage. Finally, Americares is open to collaboration and seeks out groups that can assist in the delivery of care to those in need, hence providing several opportunities for other organizations to collaborate with it.

Americares is a non-profit organization that should be chosen as a business partner to enhance the company's image. It operates in the healthcare industry and strives to enhance the condition of communities by providing care to those in need or those affected by natural catastrophes. By collaborating with this organization, the company can significantly enhance its image and participate in activities that are very important to contemporary society. For this reason, the collaboration with Americares becomes a crucial choice for the company's future growth and accomplishment of high levels of sustainability.

References

The Americares (n.d.a). About us.

The Americares (n.d.b). Global access to medicine.

Charity Truth Specialists (2018). Americares: Everything that you need to know and more. Web.

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Managing People And Business Ethics Descriptive Essay Help

Table of Contents
Introduction Importance of organizations addressing ethical issues Benefits of organizations using questionnaires What makes teams successful and cohesive? Conclusion Bibliography

Introduction

Organizations are created to fulfill specific objectives, and the success of these objectives depends on the capacity of all stakeholders to devise plans. It is essential for an organization to have ethical standards that are geared toward attaining its goals in order to be successful. A code of ethics serves as a guide for accomplishing an organization's defined objectives. Both the organization and its personnel value ethical behavior. In order to reduce the time and money required to collect information from respondents, questionnaires are a valuable tool for analyzing the ethical behavior of a company. It is also essential to foster teamwork inside a business so that all objectives can be accomplished efficiently.

Importance of organizations addressing ethical issues

An organization's public image is enhanced when it adheres to ethical norms. On the global market, consumers are increasingly cognizant of the necessity for companies to adhere to ethical norms. Protecting the environment, maintaining high standards for employees, and fostering positive relationships with the community are just a few of the numerous ethical obligations that must be met. Maintaining these standards is essential for an organization since it aids in preventing the development of a negative reputation, which may prevent the organization from gaining a competitive edge in the market. A positive corporate image increases a company's market position and sales in a competitive market environment[1].

Companies that handle ethical issues can differentiate their brands in the marketplace. In a competitive market, businesses attempt to distinguish themselves by executing their operations in the most efficient manner possible. Adhering to ethical standards helps a company gain market recognition and differentiate its products from those of other companies selling comparable goods. A corporation with strong CSR activities has a strong brand image, and its products are consequently more distinctive[2].

Adhering to ethical standards enables a business to obtain a license to operate in a market with numerous regulations and taxes systems. Failure to uphold ethical standards renders a business susceptible to numerous restrictions and fees. Governments have enacted regulations that organizations operating inside their domains are required to follow. Failure to maintain these requirements can result in significant financial losses for a company in the form of penalties, fines, and taxes. In rare instances, the legal systems of a country might force a business to shut down if it engages in immoral acts. By engaging in corporate social responsibility, a company is able to persuade both the government and the general public that it has taken sufficient measures to protect the health and safety of its environment, consumers, and all other stakeholders. [3] Organizations with a history of ethical behavior are not subject to stringent regulations.

Good ethical practices increase a company's awareness of its risk management actions. A positive public image is constructed over decades and can be tarnished in a matter of hours, especially if corruption or environmental damage happens. Maintaining a positive business image is costly since a company must be aware of all operations at all times. Being irresponsible is risky since it can harm an organization's reputation. In addition, when unethical issues are disclosed, legal fees may be incurred, which can be costly for the organization. In order to decrease the dangers connected with unethical activity, organizations are compelled to develop a culture of doing the right thing at all times [4].

The relevance of addressing ethical issues and corporate social responsibility to employees is demonstrated by their increased loyalty, motivation, and willingness to work in such firms for extended periods of time. Corporate social responsibility programs facilitate staff recruitment and training. In addition, a company is able to retain a considerable number of personnel, particularly in a labor market with a high turnover rate. Employees want to know an organization's level of corporate social responsibility in order to assess if they can work there. Organizations with a high CSR rating have the advantage of attracting and retaining professionals and experts in their respective fields of activity. In addition, employees have a positive perception of firms with good CSR since they believe that the actions of the organization benefit society. Ethical principles inside an organization drive workers to exert themselves for the benefit of all stakeholders[5].

When a firm adheres to ethical norms, employee interests are adequately protected. A company with high ethical standards ensures that its employees are safe at work and have everything they need to do their jobs effectively. Legally, all firms are required to avoid any form of discrimination against their employees. Additionally, firms must have improved facilities and a safe working environment to prevent employee injuries. It is also ethical for firms to compensate employees appropriately for the work they perform. When an organization upholds ethical principles, the working circumstances of its employees improve. As a result, CSR is utilized to attract professionals and competent personnel, as well as maintain the current workforce[6].

Utilizing questionnaires has advantages for organizations.

Standardized questionnaires are used to examine individuals in a consistent manner. This makes questionnaires for evaluating an organization's personnel more objective. There is no room for innovation, and this generates a consensus regarding the problems under consideration. Consequently, when an organization uses questionnaires, a general overview of the organization is gained, and this helps minimize biases that may form when individuals are given the opportunity to evaluate the company using other methods[7].

Using questionnaires for data collection is faster and more cost-effective. To gather information through the use of questionnaires, a person must distribute them, have respondents fill out the necessary information, and then collect them. This decreases the amount of time required to collect information from each respondent. The number of individuals involved in data collection is reduced because they are only responsible for questionnaire distribution and collection. Consequently, less costs are spent and time is saved during the entire process[8].

There are no biases while utilizing surveys. They are standardized, and responders are compelled to respond to identical questions. This prohibits the provision of biased information. In most instances, the majority of respondents are familiar with the questions asked, which facilitates the effective collection of data. In addition, a substantial amount of data is gathered through the use of questionnaires due to the diverse types of questions concentrating on all elements of the targeted issues[9].

What makes teams successful and cohesive?

Training team members increases their performance success. Training entails equipping team members with the essential abilities necessary to carry out their assigned responsibilities. Regular and ongoing training is required to equip staff with the skills necessary for enhanced performance. Modern market environments are characterized by a rapid rate of technological development, necessitating training on emerging skills so that individuals can improve their performance. Training increases a team's level of creativity, allowing its members to be more inventive in their activities. Innovations are essential because they facilitate the creation of differentiated products, which enhances the performance of teams[10].

Leadership is an essential part of effective teams. Leadership motivates team members to freely contribute to the organization's aims and objectives. Thus, the members achieve their predetermined objectives. Leaders provide guidance to their followers, which inspires them to have a desire for reaching predetermined objectives. Leadership is a powerful instrument that enables teams to complete difficult tasks within the allotted time frame. It is essential for leaders to show their followers the proper path to take by setting a positive example and offering better opportunity to pursue predetermined goals[11].

Teamwork is a crucial factor in achieving team objectives. Teams can accomplish their objectives when they are unified in all actions. When people are able to fulfill their responsibilities according to the established criteria, unity is attained. Team leaders are responsible for uniting all team members, encouraging them to share a shared vision, and preventing conflicts of interest so that all objectives can be met. While people work together, they are able to generate better ideas than when working alone. The team members provide each other with synergy, which enhances the team's performance[12].

Effective management is essential for the success of a team. Management entails planning, organizing, controlling, and directing an organization's resources in order to achieve its objectives. Team leaders are responsible for managing teams and providing resources to subordinates. When teams are effectively managed, members are able to accomplish the stated objectives. Consequently, successful teams are the result of effective management strategies[13].

Conclusion

Corporate social responsibility is an essential instrument that companies use to safeguard the welfare of their employees and enhance their public image. Implementing ethics in an organization is essential since it aids in risk management, increases employee retention, and enhances a company's brand image. Questionnaires are used to collect data on ethical concerns since they are time- and cost-efficient. When teams reach their predetermined objectives, they are considered successful. This accomplishment is achieved by the application of training to all team members, the provision of effective leadership to followers, and the incorporation of the spirit of teamwork among all parties involved.

Bibliography

CIMA Official Learning System Management Accounting Business Strategy, by Neil Botten. Butterworth-Heinemann, 2007. Web.

Research methodologies in public administration and nonprofit organizations: qualitative and quantitative approaches. 2007 M.E. Sharpe website.

Milne, John. 1999. Web. Questionnaires: Advantages and Disadvantages.

John Wilfore is his name. Everyone Benefits from Effective Teams! 2000. Web.

Worsam, Mike. Effective Management for Marketing. Elsevier, 2003. p. 109. Web.

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Strategic Management And Competitive Advantage In Business Descriptive Essay Help

Competitive Advantages Sources

Competitive advantage is "the capacity gained through attributes and resources to outperform competitors in the same industry or market" (Neganova 304-317). A company is deemed to have achieved a competitive advantage if it is pursuing a value-creating strategy and its competitors are not. The value-creating approach permits the company to achieve exceptional performance.

Consequently, the company outperforms its industry rivals. Competitive advantage is achieved when a company develops characteristics that enable it to outcompete rivals (Neganova 304-317). Among these characteristics are skilled personnel, advanced technology, and availability to raw resources. In addition, the company should build a business strategy that allows it to maximize its resources to achieve a competitive edge. The subject of this research is core competences as a source of competitive advantage.

Core Competencies Required for Long-Term Competitive Advantage

According to Prahalad and Hamel, core competencies are "the organization's collective learning, particularly how to coordinate diverse production skills and integrate multiple technology streams" (1-13). These competencies determine the quality of the company's products and the ease with which its competitors can enter new markets. Due to the changing nature of the contemporary corporate environment, core competencies are regarded a source of competitive advantage.

As product life-cycles speed and markets splinter, firms find it difficult or even less beneficial to monopolize a particular market niche. To thrive in a dynamic business environment, the company's strategy should emphasize changing its behavior to the market's requirements rather than transforming the structure of its products (Prahalad and Hamel 1-13). This can only be accomplished if the company develops core competencies that are difficult to copy and distinguish it from its competitors.

According to McKinsey & Co., to create a competitive edge, a company should focus on three to four core skills (Dess and Lumpkin 27). The selection of three to four competencies is influenced by the factors listed below. Developing core competencies that translate into competitive advantages is a resource-intensive endeavor. Due to limited resources, businesses should focus solely on characteristics that separate them from competitors in their field (Dess and Lumpkin 28).

Second, a company with more than four key skills may struggle to fully exploit them in its industry or market. If there are so many competencies, management may fail to completely comprehend and cultivate them. Consequently, there will be resource waste and an inability to establish the needed competitive advantage. Finally, not all company capabilities qualify as core competencies (Prahalad and Hamel 1-13). For a capability to be regarded as a core competency, it must satisfy the following conditions: First, the capability should be tough for competitors to copy. This implies that a "core competency should be competitively distinctive" (Dess and Lumpkin 34).

Therefore, any resource or capability that does not significantly differentiate the organization from its competitors cannot be deemed a core competence. Second, core competency must improve the perceived or experienced benefits of the end customer. Customers should derive essential benefits from the core competencies. In this sense, core competencies are the abilities required to generate and deliver a product that meets the needs of the consumer. Such production capacities determine product quality, which ultimately impacts the product's market competitiveness. Lastly, a company's primary competency should enable it to "access a variety of markets" (Prahalad and Hamel 1-13).

By focusing on three to four competences, the company will be able to allocate its limited resources to the development of capabilities that satisfy the aforementioned criteria. As a result, it will gain a competitive edge by differentiating itself within the industry.

These are the Core Competencies that a Company should pursue.

A sustainable competitive advantage is one that provides a company with long-term competitive distinction. Furthermore, it must be tough to imitate. As noted previously, a company can create a sustained competitive advantage by focusing on three to four core competences. However, a company could pursue fewer or more than the recommended three to four core competences. Core competencies can be conceptualized as "the assets and skills that generate competitive advantages" (Neganova 304-317). Therefore, the amount of core competencies that a company should pursue depends on the capacity of its capabilities to foster a sustained competitive advantage.

Consequently, the pursuit of core competences is guided by the following criteria. First, a company's fundamental competencies or capabilities must be useful. It should help the company to overcome industry threats (Prahalad and Hamel 1-13). For instance, it must enable the company to overcome the threat of replacement products and competitive rivalry. In addition, the competence should enable the company to capitalize on opportunities within the industry. Second, the firm's competencies should be uncommon in the industry. These should be capabilities that not many businesses possess.

Thirdly, a capability is regarded as a core competency if it is expensive to copy. The capability should have a history with the organization. For instance, a distinctive corporate culture or brand identity might generate value. Due to the social complexity of effective work relationships and trust among employees and other firm stakeholders, it can be costly to mimic them. Competitors should not have a clear understanding of the competence's causes or goals.

Competitors will be unable to imitate the competency because they lack a clear knowledge of its cause and purpose. Lastly, the firm's capabilities must be irreplaceable (Dess and Lumpkin 45). This entails that there must be no other resources or strategies that can replace the competence. All capability and resource sets that satisfy the aforementioned requirements qualify as core competencies. Consequently, it will be in the company's best advantage to pursue all of its core strengths.

Tesco.com's Business Strategy Dynamism

Business strategy dynamics refers to the “initiatives, options, policies, and decisions adopted in an effort to enhance performance and the outcomes that occur from these managerial actions” (Dess and Lumpkin 51). By studying the strategic initiatives that have contributed to Tesco's success, the concept of business strategy dynamics will be explained.

Tesco is a global leader in the online grocery market. Each week, the corporation fulfills more than two hundred and fifty thousand orders for almost one million customers. Tesco is currently the third-largest retailer in the world, with over 400,000 employees and 2,440 outlets in various countries (Zoeael and Simson 142-150). The grocery company was founded in the United Kingdom in 1924. Tesco's share in the grocery market in the United Kingdom exceeds 30 percent, making it a dominant company. In addition to groceries, the company also sells clothing, gadgets, and gasoline. In addition, it offers financial, Internet, and telecommunications services. The following are the strategic actions that have contributed to Tesco's success.

Company Image

The primary competitive advantage of Tesco is its distinctive brand image, which is linked with high-quality items. Customers feel that they will always receive value for money when purchasing Tesco's products. To build a strong brand, management reengineered the product and service development process (Zoeael and Simson 142-150). This allowed the management to manage the product lifecycles effectively and produce a variety of products. Tesco's product activity aims to enhance existing items and introduce new ones. Additionally, the company has concentrated on enhancing the shopping experience of its clients and providing new items, such as financial and insurance services. This endeavor has enabled the corporation to establish a reputation that its competitors in many markets cannot match.

Tesco has won the allegiance of its customers by instituting a loyalty card program that rewards its most loyal customers. The services are also tailored to match the unique requirements of each customer. Tesco, realizing that the majority of people prefer online shopping, implemented an online sales system, which has contributed considerably to its rapid expansion (Zoeael and Simson 142-150).

Integration of IT

Tesco's management built a single-supply system in order to achieve its goal of being a prominent online retailer. The technology coordinates the vast majority of Tesco's supply chain operations by linking all stores to the company's central management unit (Zoeael and Simson 142-150). The supply system effectively manages inventory, tracks delivery, and records business transaction data required for performance analysis. This technology is a critical competency since it allows clients to personalize their online purchases, hence enhancing customer advantages.

Supplier Management

Tesco sources its suppliers both domestically and internationally. Tesco seeks to create unique relationships and trust with its suppliers in order to safeguard its supply chain. The company uses "advanced communication technology to improve the efficiency of its supply chain and to coordinate the work of its suppliers" (Zoeael and Simson 142-150). Using subcontractors with close ties to Tesco, the top suppliers are selected from a variety of nations. Because they are difficult to imitate, close connections with suppliers are a vital competency.

The Internet's Influence

Tesco uses the internet to produce private information that allows it to coordinate its activities with those of its partners. Tesco was able to gain flexibility, scalability, and extensibility in its distribution channel by establishing online connections with its business partners (Zoeael and Simson 142-150). Through internet-based online communication tools, it is simple for Tesco's partners to transmit vital data. Consequently, the management has been able to establish and maintain mutually beneficial partnerships with all supply chain parties.

Lastly, the internet has significantly increased Tesco's global sales. Tesco, a renowned online retailer, relies largely on the internet to reach clients from around the globe. Tesco's website is where customers place their orders, which are then delivered to them. Internet works as a marketing tool as well. To communicate with its consumers, Tesco uses email services. For instance, customers are typically notified about new items or promotional events via their email addresses and Tesco's website.

Sources Cited

Gregory Dess and George Lumpkin Strategic Management: The Development of Competitive Advantages 2009 edition published by McGraw-Hill in New York. Print.

Neganova, Irina. "Managing Core Core Competencies to Generate Customer Value."

World Review of Entrepreneurship Management and Sustainable Development 6, no. 4 (November 2011): 304-316. Print.

Coimbatore, Prahalad, and Gary Hamel. The Core Competency of the Corporation. Harvard Business Review 68.3 (1990): 1-13.

Zoeael, Keivan, and David Simson. Performance Enhancements through the Implementation of Lean Practices.

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Online Banking Vs. Traditional Banking: Comparison Descriptive Essay Help

Abstract

In the past few years, technological advancement has become commonplace, causing firms to modify their operations. Additionally, the old banking system has been replaced with the online banking system. This study contrasts the two banking systems by highlighting the advantages and disadvantages of each. The paper suggests that online banking is preferable than traditional banking.

Introduction

Online banking is a sort of banking in which customers of a bank or other financial institution conduct financial transactions via the Internet on a website that is often owned by the institution. A customer must be registered with the financial institution in order to utilize mobile banking. On the other hand, traditional banking is characterized by the absence of Internet transactions (Rajaobelina, Brun & Toufaily, 2013). All transactions must be conducted in the physical location of the financial institution. The customer deposits funds with the bank, which can then provide loans. Primarily, capital is obtained by consumer deposits. Over-the-counter cash withdrawals and check withdrawals are available.

Online Banking

Problems and challenges

According to Benamati and Serva (2007), "recently, the growth of online banking has once again raised questions of consumer trust and mistrust" (p. 64). Consumer service is one of the issues that a customer is likely to experience when utilizing internet banking. It is crucial to note that some issues require personal support, which cannot be provided by an online bank. In addition, there is no personal engagement with this technology, despite the fact that some clients like such encounters (Nathalie & Djelassi, 2013).

Security is a further worry with internet banking. The number of hackers is increasing daily. There have been instances in which hackers stole money from online bank users. Customers' information is saved on the Internet and is solely secured using passwords and user names. This does not make it sufficiently secure (Wong, Rexha & Phau, 2008).

There is also the problem of the Internet requirement for online banking. According to Fox (2013), more than ninety percent of Americans have direct Internet access, and 61 percent of all Internet users in the United States conduct online banking. Consequently, not everyone is always connected to the Internet. This may be inconvenient for certain individuals.

The source is Fox (2013)

Advantages and benefits

Online banking has allowed users to save time formerly spent waiting in bank lobbies. Customers can now conduct business from the comfort of their own homes, provided they have Internet access. Second, online banking has simplified the process of paying bills and handling other financial problems for users. In addition, the interest rates offered by internet banks are significantly lower than those charged by traditional banks. Online banking is less expensive because banks incur fewer overhead expenses. For example, internet banks do not spend a lot of money on rent and wages (Wong, Rexha & Phau, 2008). Compared to traditional banks, the banks do not require a large number of employees. Online transactions have finally made conducting business simpler and quicker.

Why online banking is superior to traditional banking

Since the introduction of online banking, online banks have changed the banking sector by making it larger and more efficient. Initially, online banking has reduced the number of hours clients spend waiting in line at traditional banks. As long as the website's security certificate remains valid, online banking is regarded as secure. In contrast to traditional banking, consumers can access their accounts at any time and from any location. Online banking has facilitated and expedited commercial transactions. These are among the advantages of internet banking over conventional banking (Wong, Rexha & Phau, 2008).

According to Williams (2005, p. 96), "the majority of bill-paying websites include a payment activity page that details the status of all of your payments." This indicates that online banking is significantly more efficient and enhances the user experience while permitting the rapid delivery of services by service providers.

Why mobile banking is safer than using a computer

Experts in information technology assert that Smartphone banking is safer and more secure than PC banking. Smartphones provide a higher level of security, yet it is easier for hackers to construct malware for smartphones than for PCs. Smartphones facilitate the attainment of authenticity more so than desktop PCs. Therefore, banks may design banking applications that are compatible with multiple Smartphone platforms with relative ease. As a result, this will aid in achieving authenticity and prevent hackers from improving malware capabilities (Urken, 2012).

"On the software side of the equation, mobile banking apps present a challenge for hackers because they are difficult to imitate and constantly evolving" (Urken, 2012, para. 20). The ongoing evolution of the Smartphone platform is advantageous to the consumer because it makes it difficult for hackers to stay up.

Future online banking fees will be assessed in the future

As the majority of people adopt a digital lifestyle, internet banks have a bright future. Numerous individuals have Internet connectivity and can access their bank accounts online. In 2011, it was predicted that 2,2 billion individuals utilized the Internet worldwide (Rajaobelina, Brun & Toufaily, 2013). There are around 63 million Americans that utilize online banking at present (Statistic Brain, 2013). About 22 million British citizens bank online. The security of online banking has increased. Since 2009, fraud has fallen by 36%. In addition, a survey conducted in the United States revealed that 44% of respondents felt safer banking online (Gemalto, 2013). Moreover, the advantages of internet banking are likely to entice more people to join online banks.

Traditional Banking

Problems and challenges

There have been numerous bank robberies reported at traditional banks over the years. In the robbery, customers lose money and their lives, while others are injured. Therefore, security is a key issue in the traditional financial systems.

The majority of conventional banks are only open during the day, from morning till evening. Consequently, clients cannot receive services at whatever time they desire. This decreases the convenience of conventional banking. Another issue with traditional banks is the lengthy lines that are typical of the majority of them. Customers lose a great deal of time waiting to be serviced. In conclusion, traditional banks charge a greater cost than online banks do (Al-Hawari, Ward & Newby, 2009).

Advantages and benefits

First, the majority of activities are observed by surveillance cameras. This ensures that employees do not handle money improperly. It is also a measure for enhancing bank security. Second, clients can receive personalized service. Customers can develop positive relationships with bank employees. This helps build consumer loyalty and confidence in the bank (Al-Hawari, Ward & Newby, 2009).

Thirdly, when using a bank, it is possible to access other services. Among other services, one can obtain debit cards and ATM cards. Additionally, deposited funds generate interest. Customers can generate income through interest.

abandoning conventional banking

The high expenses connected with traditional banking, the lengthy lines that waste a significant amount of time while clients wait, and the inconveniences involved may be among the reasons why many people would forsake traditional banks. Traditional banking is laborious and time-consuming compared to internet banking, where payments are performed with the touch of a mouse. People will desert traditional banks in the near future because to these tendencies. Citi Bank, for instance, anticipates acquiring more customers in the future if it adopts online banking. Given the expansion of Internet access, the majority of individuals are likely to adopt online banking. According to Gemalto (2013), there are up to 111 million Internet users in Africa, whereas there are up to 835 million Internet users in Asia. These Internet users, along with the vast majority of Internet users worldwide, will likely adopt online banking.

Recommendations and Summary

The advantages of internet banking are greater than those of the conventional banking system. Online banking saves individuals the time they would have spent standing in line at conventional banks. Additionally, online banking is less expensive because interest rates are low. One can access their account at any time and from any location. Therefore, I would suggest online banking over traditional banking.

References

Al-Hawari, M., T. Ward, and L. Newby (2009). The link between service quality and customer retention in automated and traditional retail banking environments. 20(4) Journal of Service Management, pages 455 to 472.

Benamati, J., & Serva, M. A. (2007). The role of trust and mistrust in online banking in underdeveloped countries. Information Technology for Development, 13(2), pages 161 to 175.

Fox, P. (2013). (2013). 51% of adult Americans bank online. Web.

Gemalto (2013). Statistics, online banking security.

Nathalie, T. M. D., & Djelassi, S. (2013). Customer reactions to online banking service delivery wait times. International Journal of Retail and Distribution Management, 41(6), pages 442 to 460.

L. Rajaobelina, I. Brun, and E. Toufaily (2013). A relationship-based categorisation of online banking clients. 31(3), pp. 187–205 in International Journal of Bank Marketing.

Southard, P. B., and K. Siau (2004). A review of retail online e-banking initiatives. ACM Communications, 47(10):99-102.

Statistics Mind (2013). Online banking figures. Web.

Urken, R. K. (2012). Why mobile banking is more secure than using a computer. Daily Finance, online.

Williams, K. (2005). Are you set for online banking? Black Enterprise, 35(12), 93-100.

Wong, D. H., Rexha, N., & Phau, I. (2008). In the age of e-banking, traditional service quality should be reexamined. The International Journal of Bank Marketing, 26(7), pages 526 to 545.

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Microeconomics Principles: Global Oil Consumption Descriptive Essay Help

Economics is the social science that analyzes how individuals choose to use scarce or restricted resources to meet their infinite goals. (Robert Schenk). The global oil consumption has steadily increased over the years. Consequently, the global demand for this essential yet limited product has increased. Its applications are limitless, as it is the world's primary economic motor. People have opted to rely only on oil as a significant source of energy in the modern world, despite the fact that its applications are limitless. This decision is based on economics because oil is a restricted resource with unlimited utility for the global population.

Microeconomics is described as the operations of individual enterprises, households, and consumers within a national economy (answers.com). Microeconomics includes the allocation of a scarce resource, such as crude oil, among numerous different applications. For example, the East coast of the United States consumes more crude oil than any other region of the country. (Fedstats.U.S. Department of Energy) The government also claimed that more than 25 percent of gulf coast crude oil was used as a feedstock for the production of petrochemicals and petroleum-based products. In the sparsely populated Rockies region, absolute consumption is low, but per capita consumption is rather high.

The law of supply is defined as a microeconomic principle indicating that when the price of an item or service rises, providers will increase the quantity of that good or service they supply to the market, and vice versa. (investopedia,2008). According to (Geoff Riley, Eton College, September 2006), the profit incentive, stockpiles, exploration, external shocks, and spare capacity are among the factors that affect the supply of oil. Assuming these elements remain constant, as the worldwide price of crude oil rises, so does the amount of oil supplied to the market. As the price per barrel rises, so does the supply.

Assuming all other conditions remain constant, the law of demand states that as the price of a good or service increases, customer demand for the good or service decreases, and vice versa. According to Geoff, when the economy expands, the need for oil increases. In the Chinese economy, for instance, the rapid growth of national output in energy-intensive sectors has resulted in an influx of crude oil demand.

According to Geoff Riley, there are a number of factors that can influence demand, and climate change is one of them. During harsh winters in North America, for example, the need for heating oil increases. As economies in this region demand more crude oil for heating systems and homes, the price rises.

Speculation on the market is another element that affects crude oil demand. Speculators swarm the oil market to purchase excess oil futures contracts in order to increase their profit margins.

In the event that researchers develop cheaper oil replacements in the future, the demand for oil may change. This will have a significant impact on the oil business, as consumers would opt for cheaper oil substitutes. Global economic expansion has altered crude oil demand. Petroleum has long been a crucial component of industrial production. When the economy grows steadily, the need for oil increases. For instance, the global increase in oil demand has been caused by the economic growth of nations such as China, Brazil, and India, whose energy-intensive industries have contributed to the increase.

Changes in oil supply and oil demand are distinct. Short-term and long-term factors that affect the global oil supply are distinguished. In the short term, the crude oil supply is influenced by the amount of stock available to feed the main oil refineries. In the case of oil, for instance, a large storage level corresponds to a rapid supply when demand fluctuates.

An external shock is another factor influencing the crude oil supply. Examples of external shocks include armed conflicts and terrorist assaults in oil-producing nations. Consequently, the oil supply is interrupted. The quantity of spare capacity in crude oil production also has a significant effect in crude oil supply. Oil reserves are one of the long-term elements influencing the oil supply. When oil reserves are depleted, supplies will decrease. The rising demand for oil is rapidly depleting the world's oil supplies.

More frequently, technological advancement results in effective oil extraction techniques. As the cost of production rises as a result of technical advancement, prices are anticipated to rise, resulting in an increase in supply.

Future oil supply will be affected by the amount of money invested in oil exploration. As demand rises, more resources are allocated to the exploration of additional oil reservoirs. With increased oil reserves, the supply will rise. The consumer's needs are rooted in the theory of demand, while the manufacturer's needs are rooted in the idea of supply.

According to (EAI Demand), the developed nations are the top crude oil consumers. This high consumption is due to the rising industrialization of these nations. In industrialized nations, the high consumption may be partially attributable to the population density. The United States, for example, is one of the world's most populous nations. This is why North American oil demand is so high.

The demand for oil in the United States has also surged as a result of military operations in Iraq and Afghanistan. There is a greater demand for jet fuel and oil for tankers on the ground. This has consequently boosted the price of crude oil. With the price increase, the crude oil supply increases.

The large number of private vehicles on North American highways has resulted in a shift in crude oil demand. This increasing number of automobiles increases the need for crude oil.

Since crude oil contributes to the deterioration of the ozone layer, crude fuel has also been graded to make it more environmentally friendly. As a result, new technologies have been developed to manufacture environmentally acceptable petroleum products. The adoption of new technologies leads to an improvement in the quality of petroleum, which results in price increases. Price increases usually have an effect on supply.

Due to the scarcity and increased demand for crude oil in North America, some individuals may abandon their private vehicles in favor of public transportation, such as buses. Due to the likelihood that fuel prices will continue to soar, the bulk of the public will be more inclined than ever to abandon private vehicles in favor of cheaper alternatives such as trains.

In order to endure the harsh winter in North America, crude oil demand increases. During this season, oil is utilized to heat houses and businesses. Therefore, prices during this period are expected to be high. It is apparent that the transportation industry consumes more oil than any other industry in North America. In contrast, oil is utilized in generators to generate electricity.

Reference

Demand, Energy Information Administration. Retrieved August 8, 2008 Web.

2006 Geoff Riley, Eton College

The law of supply, Investopedia, 2008. Web.

Web. OPpapers.consumption. 2008.

2008 Web. Robert Schenk, Microeconomics.

Economics. Tutor2u.net. 2008. Web.

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Operations Management In Gruppo Guido Company Descriptive Essay Help

Introduction

Gruppo Guido is an Italian construction company that specializes in both actual construction and project management. Regarding project management, they plan, manage, and organize construction projects for various clients. They also aid their clients in overcoming misgivings (particularly in conservative nations) and in risk management. Other services include contract preparation, timetable creation, contract bidding and awarding, project cost estimation, assuring site safety, and feasibility analysis. Gruppo Guido, unlike many construction businesses, may provide any of its services individually; for instance, they can provide solely financial management for a construction project. Perhaps the group's site management services are more well-known than its other offerings.

Strategic Organizational Objectives

Gruppo Guido must develop organizational methods that will ensure its continued competitiveness in light of the proliferation of new construction enterprises. This organization's primary mission is to be a global leader in the construction sector. To accomplish this, all of her operations must be efficient and productive. Additionally, the organization wants to be reliable and trustworthy. This involves the company providing services in line with building codes and the terms of the contract. Speed is another strategic objective of the organization. This indicates that the business should be able to provide services on time. As a result, the time between the order of service and its implementation is shortened. Another strategic target selected by this organization is adaptability. This indicates that the organization is able to quickly adapt its operations based on customer demand. This purpose also necessitates creativity, as each client has unique requirements.

Operation/Process

The most complex of the services offered by this organization is site management. Managing a building site entails ensuring that all resources are available when they are required. The majority of businesses perform poorly when it comes to managing site operations. Because a site manager must interact with at least seven different organizations simultaneously. There are undoubtedly lift specialists among the surveyors, masons, carpenters, plumbers, electricians, interior designers, and architects. Typically, the skills and services of these contractors are required at a certain phase of the process. Ensuring that all obligations of the various parties on the site are carried out efficiently is vital to achieving their primary strategic goal of being the industry leader in construction (Kaplan 2006, p 104).

All work performed on the site is contracted out. It is impossible for a single company to remain relevant while focusing on all aspects of building. Internal activities are limited to management, financial, environmental and legal concerns. The Gruppo Guido management staff is responsible for ensuring that the required documentation is present on-site. This comprises insurance documents for all staff at the construction site and a sign showing all parties involved in the project (Palmisano 2006, p 130). This will assist the organization in reaching its reliability objective. This indicates that no shortcuts are utilized when obtaining permissions through legal channels.

On the construction site, materials are always required, so the supply network must be highly efficient. If the company aims to be reliable and trustworthy, it must engage only the most reputable and capable companies. Although they may be more expensive than the others, they are essential for ensuring that all tasks on the site run well. Additionally, contracting respectable organizations necessitates the engagement of companies with decades of experience. It is extremely common during the construction of a building for the various tasks to not be completed on schedule (Kaplan 2006, p 110). Due to the interdependence of the tasks, this will result in an overall delay. To prevent this and also achieve the speed strategic goal, the management team must devise a rational timetable. A logical schedule guarantees that all considerations are taken into account (Palmisano 2006, p 134). These include the distance from the raw material, the type of equipment used by the contractor, the working hours, the level of skill of the workers, the length of their breaks, and their motivation.

Implementation of technology

Utilizing cutting-edge technology is essential for maintaining high standards and maximizing productivity. On a daily basis, the site manager must make various decisions on the building approach. Different geographic areas require different technologies. The chosen technology will impact the total cost, speed, and durability of the completed construction. In many instances, alternative arrangements are made carelessly, which could have catastrophic consequences if the primary approach fails (Kaplan 2006, p 104). For instance, if the building project requires breaking rocks and moving the rubble to a wet place, the mode of transportation is critical. These rocks can be transported using either a conveyor belt or trucks. Both approaches will complete the task, but the conveyor belt will be slower and less expensive. Before deciding between these two options, it is important to consider their relative costs, as well as their dependability, availability, and installation logistics. Despite these factors, it is impossible to predict the real effects of selecting a particular strategy. This is due to the lack of information regarding the ground conditions and the amount of worker knowledge and familiarity with the machinery during the planning phase (Melnyck 2004, p 210).

This demonstrates how the selection of technology can negatively impact the company's strategic objectives. It is evident from the preceding illustration that the choice of technology influences the total cost and duration of the project, consequently having a direct impact on its primary objectives. In other areas, technology determines the structure's durability and even its aesthetic. In many instances, the application of cutting-edge technology results in constructions that are not only visually appealing but also durable. This will make the organization more trustworthy and the market leader.

Evaluation of the planning and control methods or approaches for managing the operation's or process's demand and capacity

There are numerous methods for evaluating the operations of a corporation. Chase's method is considered the finest because it incorporates both quantitative and qualitative factors. Gruppo Guido is permitted to operate in all nations since it meets international criteria. Safety is one of the most important factors considered by all nations. This is highlighted especially while constructing tall buildings. It is a requirement that all employees wear protective gear and remain suspended at all times (Melnyck 2004, p 212). Gruppo Guido has guaranteed that it not only complies with safety regulations, but also that the safety equipment is routinely inspected, maintained, and/or updated. In reality, during 2008 there were just two accidents that resulted in no injuries. Other standards require the use of standard equipment and supplies. This is not an issue for this company, as it is already licensed to operate in all nations.

The past operations have had an impact on planning and management. This is the bottom-up perspective, which formulates procedures based on past experiences. Initially, decisions may be made to accommodate client requirements. Eventually, though, selections that initially appeared random become the norm. Eventually, these unplanned selections serve as the foundation for operations strategy (Johnston 2009, p 570).

Total quality management (TQM) is essential since it minimizes expenses and increases customer satisfaction. There have never been standard methods for implementing TQM, but Gruppo Guido, like many other businesses, has devised methods for monitoring its performance. The most frequent method for measuring the performance of a structure is to compare the cost of construction to the amount of time it will take to generate the same amount of money. Client response is an additional dependable way. Clients are permitted to rate the company's performance in site management (Reijers 2005, p 284).

Failure, Enhancement, and Quality

Gruppo Guido is susceptible to failure because to bad management, lack of planning for unforeseen conditions, and unfamiliarity with new construction territory, just like any other business. In order to address these dangers, the organization is eager to hire competent and experienced managers. In addition, the on-site managers are required to report weekly on the status of the job. Planning for unanticipated events might be difficult but manageable for a long-standing organization. Similar to numerous other construction issues, they are repetitive. Keeping track of what went wrong or could go wrong prepares a business for any unforeseen scenarios. Finally, the corporation has opened branches in many other nations, including the United States and Japan. In these offices, they have engaged natives who are knowledgeable with the building codes and construction sites of their different countries.

Conclusion

The organization has a great management system overall. Not only has this company employed the technique, but so have numerous other construction companies. This is because the fundamentals of building operations and management remain consistent regardless of the project.

References

Johnston, R., 2009. Operations managers are responsible for establishing and cultivating strategic alliances. 29(6):564-590. International Journal of Operations and Production Management.

How to execute a new strategy without disrupting your organization, R. Kaplan, 2006. 100-109. Harvard Business Review, 84(3).

Melnyck, S., 2004. Operations management metrics and performance measurement: navigating the metrics labyrinth 22(3) Journal of Operations Management pages 209-218.

The internationally linked enterprise. Foreign Affairs, vol. 85, no. 3, pp. 127-136, 2006.

Best practices in business process redesign: an overview and qualitative assessment of effective redesign heuristics. Omega, 33 (4), pp.283-306.

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Minimum Wage Effects On Economies Descriptive Essay Help

Table of Contents
Introduction Analysis problem Organizational architecture and structure Teams and teamwork Leadership and administration strategy Organization culture Recommendations Upon Concluding References

Introduction

Management is the practice of achieving objectives through other people in an effective and efficient manner (Agarwal 2008, p.302). These activities consist of planning, organizing, leading, and controlling, and are generally referred to as the four functions of management.

Planning is the process by which an organization determines its future actions (Hill and Jones 2009, p.381). In conjunction with the planning function, the organizing function guarantees that the firm's available resources are maximized and distributed strategically. Lastly, controlling is viewed as monitoring the progress in accordance with the initial plan and enforcing adjustments when necessary if feedback indicates that things are not aligned with the plan (Mullins 2010, p.34).

Therefore, organization management is the act of building a relationship between people and resources in order to achieve particular objectives and business goals (Agarwal 2008, p.303). Management of an organization is founded on five principles: procedure, scope of control, unity of command, homogeneous assignment, delegation of authority, and adaptability.

Organization management is a five-step process, the first of which entails identifying the tasks involved, taking into account the nature of the job, the credentials required for the job, and the time required to complete the assignment (Mullins 2010, p.35). The second phase is to subdivide big jobs into individual activities; the numerous possible tasks will be portioned as stand-alone projects that may be carried out independently by different departments (Triplet 2007, p.3).

The third step involves allocating specific activities to individuals; at this stage, the organization must determine the capabilities of each employee before assigning available assignments. The tasks are matched to the individual and assigned to the person most capable of completing them efficiently. The fourth step is to give the available resources to help individuals in successfully completing their assigned jobs (Moyles 2006, p.176). The organization allocates resources based on the nature and complexity of the allocated work. The final step involves building an organizational structure to decide the strategy that will merge the numerous allocated tasks into one once they are accomplished and how the various organizational structures can collaborate (Picot et al., 2008, p.12).

Managers in an organization should recognize the significance of organization and management, the process through which people, diverse jobs, and technology are blended and coordinated to achieve organizational goals (Triplet 2007, p.4). Bob and Lloyd must see the importance of linking the people, tasks, and resources in the fast-food company process. Bob and Lloyd must make optimal use of the organization's resources to complete all tasks and implement their fast food company concepts (Triplet 2007, p.5). Organization and management should be based on determining the policies, missions, and structures of the fast food firm (McNichol et al 2007, p.13).

Analysis problem

Bob and Lloyd's choice to launch a fast food restaurant in Cambridge will be a wise investment if they properly evaluate the organization and administration of the business. In Cambridge's fast food market, their success rate will be determined by how they establish structure, assemble their team, exercise leadership, and address organizational culture. Bob and Lloyd must carefully analyze the following four factors before making strategic judgments regarding their new venture (Chen 2004, p.5).

Organizational architecture and structure

An organizational structure is a network of interconnected jobs, job groups, and ultimately authority (Burstein 1991, p.327). A structure of an organization specifies how individuals are placed into departments and departments are grouped to form the organization. It comprises the creation of mechanisms to ensure effective departmental communication, integration, and coordination of efforts. Typically, an organizational chart depicts the formal relationships within an organization, including the number of levels in the hierarchy and the scope of control of managers and supervisors (Schriber and Gutek 2010, p.642). Bob and Lloyd must choose an organizational structure that corresponds to the span of control (Alder and Jelinek 2006, p.74). Each individual's function and responsibilities must be specified within the organizational structure of the fast food establishment.

The objective of an organization structure is to give a common reference that demonstrates the general relationship between upper management, middle management, and lower level management (Murphy and Willmot 2010, p.268). Traditional organization models always placed the CEO on top, with everyone else grouped in layers according to department, however today there are numerous decentralized and flexible organization systems. Bob and Lloyd should establish a structure that improves horizontal coordination and communication, despite the absence of a traditional organizational structure, in order to promote change adoption (Burstein 1991, p.327). In a fast food industry, a horizontal organizational structure will decentralize decision-making. The first diagram below depicts a contemporary organizational structure with three management levels. (Burstein 1991, p.327).

Three managerial levels.

One of the four factors that help a corporation develop its organizational structure is job specification, which entails outlining the departments' responsibilities (Barry 2000, p.33). The second is departmentalization, in which positions are grouped and responsibilities are assigned in accordance with the company's objectives. The third aspect is span of control, in which the management examines the tasks at hand and the number of units and, as a result, merges the two factors in an advantageous manner (Chen 2004, p.6). The final aspect is delegation of authority, which introduces managers in charge of units and gives the head of each unit the capacity to make decisions on behalf of the organization. Bob and Lloyd ought to distribute control to the managers of the fast food company so that they may make decisions with ease. Each unit department's managers should make choices on behalf of the organization.

Teams and group effort

In order to turn around an organization, management must support a team-based approach. Consistently, management gurus have asserted that a team exceeds an individual in terms of passion, focus, and overcoming formidable obstacles. (Mullins 2010, p.46)

A team is a small group of individuals with complementary skills and a shared purpose for which they all feel accountable (Katzenbach and Smith 1993, p.68). Bob and Lloyd must adhere to the five team standards in order to establish a formidable team for the fast-food hamburger enterprise.

The team for one must be modest, ideally between two to twenty-five members, because it is easier to collaborate with a small group (Hill and Jones 2009, p.385). The second concept is that team members must possess complementary abilities (Leitner 2004, p.35). The third principle states that members should share a common purpose and objective, which means that the team's objective and mission must coincide (Hill and Jones 2009, p.384). The fourth principle is that the team must build a shared working style in which the team pays attention to administrative and work-related aspects and each team member identifies their position in the team's work (Picot et al 2008, p.84). The final principle emphasizes that all members must be accountable to themselves and to others in order to ensure the commitment and trust of other members (Katzenbach and Smith 1993, p.68). The diagram below depicts a paradigm change in a team system, often known as a team structure (Picot et al 2008, p.84).

Team structure.

For the sake of strategic team building, Bob and Lloyd should carefully pick and staff their employees so that they have a motivated, vital workforce. The fast food sector necessitates qualified, quick, and efficient employees; else, the business could fail (McNichol et al 2007, p.2007). Staffing corresponds to human resource planning; here, the organization should evaluate the number of personnel required, their backgrounds, their credentials, and the cost of recruiting each one in order to achieve its objectives. Consideration must also be given to how to get the necessary personnel, with recruitment considerations including education, experience, human relations, communication skills, and motivation (Northouse 2009, p.165).

When undertaking employee selection, management should devise an elimination-based method for selecting the most qualified individuals. Having a set of criteria and a score sheet for each candidate guarantees that the organization will have a high rate of successful hires (Baligh 2006, p.126). The organization must define each interview, develop a strategy, communicate with the interviewee during the interview, and establish a conclusion for the interview. Bob and Lloyd should perform an in-person interview to determine whether or not each employee have strong interpersonal skills (Chen 2004, p.7).

Motivation is a crucial part of every firm; if the employees are not motivated, they will inevitably produce less (Sekhar 2010, p.16). Increases in working conditions, interpersonal relationships, income, job security, company regulations, supervision, and administration are examples of motivating factors (Sekhar 2010, p.17). Bob and Lloyd should motivate their fast food staff by providing them with favorable working conditions and bonuses.

Leadership and administration strategy

A leader is a person who directs a group of people, an organization, or a nation (Leitner 2004, p.87). To the followers, a leadership model according to Mitchell, Margaret and Casey, John, professors of leadership management at the University of Illinois (2007) emphasizes a collective strategy that involves all members and includes elements such as improving the overall performance, focusing specifically on strategy, and creating an environment of change (p.53).

Second, employing a collaborative approach begins to foster excellent community connections because everyone is represented, so laying the groundwork for collaborations within the institution, which benefits the entire community (p.58). A skilled leader will most effectively unite all members in a strategic manner to work together; he or she must also be intelligent and inspiring (McNichol et al 2007, p.104). In addition, a leader should propose innovative tactics that are effective and will provide positive performance outcomes; this will serve as motivation for all members.

Manpower planning would be the optimal strategy for implementing "imposed-incremental change" in an organization (Cooper 2005, p.231).

Cooper Crown (2005), a professional management guru and consultant in management issues, defines manpower planning as the process of forecasting and planning the human resource organization in every institution in order to plan for the future in accordance with the institution's goals and organizational structure (p.232).

The competency is intended to be useful when an organization has limited funds to spend yet must carry out its activities (Northouse 2009, p.168).

Well, the best approach to strengthen one's leadership characteristics is to develop skills in manpower planning, which will allow for the regulation of projects and the establishment of a structured workforce to complete the duties.

In order to achieve strong leadership, a leadership mission entails deciding on long-term and short-term objectives and allocating priority to methods (Moyles 2006, p.178; Bass and Avolio 1993, p1). A competent leader should have a strategy formula that focuses on effective resource allocation, making judgments on diversifications, and entering overseas marketplaces to combine and participate in an organization's initiative. A leader's strategy commits the organization to a defined vision, mission, and objective over a prolonged period of time in order to achieve it (Northouse 2009, p.169; Moyles 2006, p.179).

The success of policy implementation depends on the capacity of the leadership function to motivate others to assist in strategy redesign (Moyles 2006, p.179) Redesigning an organization's process enhances it and helps it adapt to external environmental restrictions over which the leader has no control (Murphy and William 2010, p. 268). Bob and Lloyd should construct a strategy-support culture at the fast food industry and establish an effective and functional structure in order to ensure policy implementation (Moyles 2006, p.522). Bob and Lloyd must encourage the managers of each unit and the staff to discover methods to contribute to the implementation process (Normore 2010). Implementation involves personal discipline, commitment and sacrifice. This is due to the fact that at this time is seen as unstable and requires everyone to embrace new systems (Picot et al 2008, p.86).

Organization culture

The word organization culture refers to a set of characteristics that are unique to a given organization and can be derived from the manner in which an organization develops and identifies the characteristics of cultures that promote learning and those that impede the learning organization process (Adler and Jelinek 2006, p.74).

Organizational culture encourages the learning process. Today's organizations are under a great deal of pressure to perform, which requires them to learn, adapt, and take ethically sound actions in order to meet the demands of the industry and the shareholders (Schriber and Gutek 2010, p.645).

According to McNichol et al. (2007), there are a variety of corporate learning culture approaches. The three most prevalent categories are (p.104):

A supportive organization learning culture is one in which team members or the management of an organization provide assistance for learning. Concretizing organizational learning culture: when the learning culture is founded on concrete procedures and practices, such as billing, logistics, and product development (Mullins 2010, p.35). Leadership organizational learning culture: a technique that employs leadership to reinforce learning inside an organization. This indicates that the leader in the organization must study the organization's constraints, acknowledge them, and explore alternatives to improve the organization's performance in order to steer the learning process (Sekhar 2010, p.17).

Organizational learning is under pressure to keep up with the shifting patterns of the times. In the past, people were not required to make quick decisions, but today they must do so in uncertain circumstances. A learning organization is an entity in which employees successfully transfer knowledge (Leitner 2004, p.89).

By attempting to develop an effective learning organization, the fast food corporation will demonstrate its efforts to rethink the organization culture process. There are two strategies to improve an organization's learning strategy. The first is a single-loop learning process that involves modifying the environment without altering the organization's structures (Chen 2004, p.8). The second consists of a double loop in which new systems are implemented and the learning process is redefined and tested (Murphy and Willmot 2010, p.270). Bob and Lloyd should come up with innovative ideas for the development of the fast food company and the establishment of a competitive edge in Cambridge. Chen (2004) specifies, if it is a single-loop, the condition.

Microsoft Corporation’s Leadership And Theories Descriptive Essay Help

Introduction

This workshop will examine the accomplishments and difficulties of Microsoft Corporation, an organization whose guiding principles are based on the following tenets: vision, i.e., rallying its people to commit to change; helping, by constructing responsive attachments; and, leading the organization to eminence. These environmental stimulants have a good effect on businesses.

Hay/study McBer's of 3,871 CEOs (Goleman, 2011) analyzed the effectiveness of leadership and uncovered distinct forms of leadership based on emotional intelligence environment. It appeared that styles had a significant impact on the operation of the firm and its units and organizations, as well as its financial condition relative to other businesses.

According to this study, leadership development should not be focused solely on a single model, otherwise the firm risks becoming stagnant. After years in the industry, it was discovered that many successful CEOs and organizations find themselves collapsing and falling. One explanation for this failure after initial success is reliance on the same leadership style that provided initial success. The leadership models of today may not be effective in the business environment of the future. The corporate sector, like the world, is constantly evolving (Shambaugh, 2013).

How can I be certain that my organization will continue to exist in the future? appears to be the ultimate concern of a successful businessperson. How can we know that existing organizations will coexist with the new ones? According to Rebecca Shambaugh (2013), great firms will be managed by teams comprised of both men and women who work together to produce extraordinary outcomes.

The Microsoft enterprise

What distinguishes Microsoft from other companies? Microsoft's distinguishing "people, processes, and products" are imbued with strength and distinction. The organizational significance integrated into management techniques is provided by these three components. Microsoft cultivates leaders who create extraordinary results.

First, it has a distinct culture, the most important aspect of every company. Even in firms where culture is not the primary focus, the behavior of employees is nonetheless influenced by commonly held views. Even if managers do not believe their organization has a particular culture, organizational culture is always significant (Alvesson, 2002).

The majority of Microsoft's clients are network administrators and IT professionals who specialize in network installation and maintenance. Others include programmers and executives who determine the viability of IT programs and systems for their respective companies (Flynn, 2009). Others are ordinary people who have heard about it through word of mouth and who admired Microsoft when PCs were just referred to as "computers."

Microsoft is distinctive because of its business model. Microsoft Corporation has some internal organizations concerned with the growth of its employees and the company as a whole. One of these is the "People and Organization Capability" (POC), which is associated with Microsoft's "Center of Excellence for Human Resources" (HR). It stands with a vision and a culture that enable people to grow and develop and the organization to function in a distinct environment (Trathen, 2007, p. 66).

POC is designed to cultivate leaders, managers, employees, and organizational capabilities that initiate positive business transformation and produce enduring business results. The different actions that generate solutions are interwoven into "Organization Capability and Change Talent Management, and Leadership and Learning" (Trathen, 2007, p. 66). These solutions are built on solid, consistent, and custom-tailored research conducted by the same resources that established the Microsoft Systems Model, which serves as the foundation for their numerous activities.

People Research is under the POC and is entrusted with protecting Microsoft's enterprise-wide HR innovations, which are founded on sound research principles and best practices. People Research researchers collaborate with other members of the POC organization, other MS centers of excellence, and corporate partners in the HR department, which appears to be a separate entity. However, this is not the case; the HR department serves the people and the organization. This group is comprised of several industrial/organizational psychologists who conduct qualitative and quantitative studies to: enhance leadership and management competencies; investigate the core characteristics of successful individuals and teams; conduct and provide empirical surveys; verify measurement and assessment principles; and develop and maintain ownership overvaluation activities.

The corporation initiated a very selective succession planning exercise in December 2006 with the objective of training 47 top executives to become the organization's future Corporate Vice Presidents. Microsoft has around 79,000 people, including hundreds of middle- and upper-level managers, staff, teams, and experts in many business disciplines.

Each participant in this prominent program receives executive coaching, which is amazing. The 47 executives were picked by Trathen (2007), himself a Microsoft executive, as part of a convenience sample for his study. The initiative examined the effectiveness and viability of executive coaching.

Executive coaching

Microsoft fosters leadership development via executive coaching. There is a rising appreciation for the significance of executive coaching interventions. However, a few studies have been published on this topic, but the real conclusions and calculations for return-on-investment calculations are unclear (Anderson, 2002; Peterson & Hicks as cited in Trathen, 2007).

This is how the concept of executive coaching works. The executive engages an executive coach for the objective of enhancing performance, and the process lasts between six and twelve months. The executive and the coach must develop trust and rapport for their cooperation to be successful (Lyons as cited in Trathen, 2007). The Human Resources department (representing the organization) and the executive coach must collaborate closely with the other stakeholders. The collaboration creates a triangle relationship, which has the potential to impact some relationships and produce conflict. According to Richard (2003), executive coaches provide assistance by emphasizing stress management, time management, career development, interpersonal relationship enhancement, and excellent leadership practice.

Kilburg (1996) provides his own analysis of executive coaching, arguing that executive coaches focus on expanding the executive's behavioral range, adaptability, and effectiveness; enhancing the client's social and psychological awareness and competencies; developing the executive's tolerance and emotional intelligence scope; and enhancing the executive's resilience and stress management skills. Executive coaching focuses on maximizing the client's enormous potential from a goal-oriented perspective in order to foster greater self-awareness that can be applied to future situations requiring quick action.

Theoretical underpinnings

One of the theories on executive coaching is Ducharme (2004), who elucidated the application of cognitive-behavioral techniques in the context of executive coaching and emphasized the significance of various executive coaching approaches. She underlined the many psychologically-based theoretical approaches, such as her support for cognitive behavioral approaches due to their simplicity and demonstrated success with a sample of high-performing executives. In modeling the executive, this strategy focuses on individual change that percolates throughout the organization.

Albert Ellis also established the Rational Emotional Behavior Therapy (REBT) philosophy (Sherin & Caiger, 2004; Anderson, 2002 all cited in Trathen, 2007). In addition to Ducharme's ideas, Sherin and Caiger recognized six more theoretical methods employed in executive coaching. REBT was traditionally used to assist individuals in examining their belief systems, which are based on irrational beliefs and undesirable emotional responses. A second theory, Rational Emotional Behavioral Coaching, which is nearly identical to REBT, is based on the concept of unconditional self-acceptance. The semantics of these two strategies vary slightly when applied to different contexts, but they are essentially identical. REBT focuses on "irrational beliefs," whereas REBC proposes modifying situations that are unrealistic.

Organizational Strategy and Formulation of Strategy

Michael Porter has developed numerous ideas and definitions of strategy (Trathen, 2007). He characterized strategy as offering "compromises" to business rivals. Grant (as described by Trathen) elaborated that a company's strategy is its response to "resources and skill" and other actions, including dangers, generated by its external environment. Grant also stated that organizational assets, such as expertise, are key considerations in trade-off scenarios intended to achieve environmental fit.

Leadership is tied to strategy. Organizations consider leadership as a means of gaining a competitive edge. Traditional conceptions of leadership behavior centered on a variety of phenomena, including team member interactions, the provision of supervision and support, and delivering behaviors (Shamir et al. as cited in Trathen, 2007).

Leadership philosophy

New theories have concentrated on leaders who are able to persuade and reliably transform the attention of people who rely on being led to independent behavior, i.e., the freedom to lead and be a member of a group that focuses on innovation and the enhancement of the team and the organization as a whole. This requires charismatic leadership, which is defined as the capacity to unleash the organizational strength and potential by appealing to morality and shared values through self-confidence, self-sacrifice, and inspirational communication (Trathen, 2007, p. 49).

Initially attributed to church leaders, charismatic leadership is today used to leaders who can persuade followers to observe and follow particular norms and principles for the welfare of the organization. Leaders with charisma demonstrate self-assurance, ascendancy, a sense of mission, and the ability to eloquently communicate the vision to people (House; Conger as cited in Flynn & Staw, 2004).

Mentoring Leaders

Executive coaches can facilitate the leader's ability to increase the organization's effectiveness and competency (Morgan et al., 2004, p. 30). With leadership development as the focal point, the organization should have a comprehensive understanding of the theories, forms, and styles of leadership that should be implemented by the team and other employees.

Influential Leadership

Shamir et al. (as cited in Trathen, 2007) identified three types of change advocated by charismatic leaders: nurturing their follower-companions to a higher need as demonstrated in Maslow's need pyramid, developing followers' morality consciousness, and encouraging followers' ability to place the needs of the organization above their own needs and interests. The primary characteristics of charismatic leadership are vision, comprehension, and enablement (Choi, 2006, p. 24).

Changes might be observed in the company culture, including the employees' adaptation and flexibility. Leadership with charisma can improve organizational performance (Flynn & Staw, 2004). Other researches have validated the connection between charismatic leadership and organizational performance, while others have shown that charismatic leaders can exercise strong persuasion over followers and coworkers at all levels of the organization.

The majority of studies on charismatic have only concentrated on the "internal" operation of management, while the outward component of management has received little attention. This entails efforts aimed at guiding an organization through difficult circumstances, locating deficient resources, or getting assistance from external sources, while taking stakeholders into account (Trice & Beyer as cited in Flynn & Staw, 2004). Relationships with suppliers, consumers, and other stakeholders are also external relationships that require charismatic leadership. Additionally, researchers have concentrated on external management activities such as "boundary spanning," network formation, and reputation management (Flynn & Staw, p. 310).

Elements of Charismatic Administration

The phrase "charisma" may sound like a magical word, but it has been utilized in religion and politics. It means "gift" in Greek, however it is a psychological trait according to the Weber dictionary. According to Choi (2006), House did a comprehensive study on charismatic leadership. There are two exceptional varieties of charismatic leaders: individualized and socialized. According to Choi, personalized refers to "exploitative, non-egalitarian, and self-aggrandizing," which has negative implications for followers and the organization. A charismatic leadership that has been socialized is not exploitative.

It is used to drive followers to make gains for the organization, regardless of the requirements or interests of the leader. This also refers to the leaders' resolve to assist followers by articulating "higher-order goals" that demand the basic needs of the followers. It imbues the followers with the ability to pursue those objectives. It is more of a developing type than one that produces blind obedience (Dvir et al. as cited in Choi, 2006). Numerous prior research indicate that socialized charismatic leadership consists of "visioning, empathy, and empowerment" (Bass; Burke; Conger & Kanungo, all cited in Choi, 2006).

Envisioning involves creating a complete image of a desired future with which stakeholders can identify and which can generate excitement. Creation and transmission of a vision are the most prominent characteristics of charismatic leadership. Leaders with charisma create a vision that elucidates the firm's ideal objectives and articulates ideals that are appealing to the members (Conger & Kanungo as cited in Choi, 2006).

Understanding the followers' motivations, values, and emotions requires empathy, as does considering the perspectives of others. Consideration, which can relate to shared expectation, "respect for and support of another person's ideas and appreciation of their feelings," may be defined by empathy (Choice, 2006, p. 27).

The term "empowerment" refers to a process that might result in "perceptions of self-efficacy," or confidence in one's ability to perform tasks with skill and talent (Choice, 2006, p. 28).

Organizations that empower employees and other stakeholders to adapt to change, from the lower to the middle and upper ranks, in a value emergent strategy, require leaders who can eloquently articulate the organization's strategic aims and objectives while also guiding cultural integration as a result of some smaller strategic changes.

Referring back to the concept of executive coaches, coaches who provide strategy counseling to charismatic leaders may find opportunities to undertake behavioral coaching as well. Professional executive coaches are aware of these changes in leadership expertise and incorporate them into their coaching interventions (Grant & Canaugh as cited in Trathen, 2007).

On the other hand, transactional leadership is linked to management through the concept of role- and task-specific guidance alongside management. Transformational leadership is characterized by intellectual inventiveness, concern for the growth of the individual, and charismatic inspiration. Changes in strategy are frequently implemented through change management techniques, an acknowledgment of one's strengths, and placement within the many domains. To be effective, executive coaching necessitates a solid interdisciplinary foundation and an external perspective on the placement of various areas in order to increase the likelihood of success.

The typical view of leadership is that it involves personal characteristics. However, charismatic and transformative leadership considers the backdrop of systems theory and the interconnectedness resulting from field-based feedback. In 1975, thinkers began to see a relationship between leadership and social systems (Salancik et al. as cited in Trathen, 2007). Adding shared leadership to this new concept. This strategy transforms leadership into a collaborative activity exhibited by every member of the organization.

There is ongoing pressure on executives to produce outcomes. As leaders have to know how to respond to immense pressures, they have to also determine their weaknesses and insufficiencies, take suitable learning-based programs to improve their capability in order to become better leaders

How Industrial Revolution Shaped Employment Relations Descriptive Essay Help

Table of Contents
Abstract Presentation The Industrial Revolution in brief Review of Employment Relations from a Theoretical Standpoint Conclusions of Discussions References

Abstract

This essay investigates how two distinct ideas explain the effects of the industrial revolution on labor relations. It examines how thinkers fought about the relationship between the industrial revolution and labor relations, as well as the role that the industrial revolution played in shaping employment and labor force in the United Kingdom, Europe, the United States, and others. Several historical sources have been considered in order to examine and contrast how two perspectives have interpreted the relationship between industrial relations and labor. In order to offer context for the analysis, a brief overview of industrial and employment relations has also been provided. The essay provides an ideological foundation upon which further research in the same field of study might be built.

Introduction

Researchers and theorists have investigated and analyzed the effects of the Industrial Revolution on employment and labor relations from a variety of socioeconomic and cultural viewpoints. The most notable investigations were those done by German philosopher Karl Heinrich Marx in the 19th century. Other scholars, sociologists, and philosophers have relied heavily on Marxist economic and political ideas to present their research. This essay compares two theoretical dogmas to explain the extent to which the industrial revolution may have influenced job relations.

The Industrial Revolution in brief

Between the 18th and 19th centuries, a massive global revolution occurred, resulting in substantial socioeconomic and cultural changes. The revolution was a turning point in the development of technology, agriculture, mining, and industry. It began in the United Kingdom, expanded to Europe and North America, and eventually to the rest of the world (Hyman, 1975).

During the age of the industrial revolution, the global economy and population grew at an unparalleled rate. In their book titled "Understanding Work and Employment," Peter and Adriana Wilkinson highlight that between the two centuries of the revolution, there was a continuous improvement in the living standards of the masses (Peter, A., & Wilkinson, A.,2003). During this time period, concurrent quantitative surveys revealed an increase in both the population and the average man's level of living. Global economic expansion was at its peak (Hyman, 1975).

The industrial revolution was marked by the replacement of manual human work with machinery. As a result, industrial productivities increased as machines outperformed human capacities. According to Hyman, there has been a significant socioeconomic shift in global civilization. It was an extraordinary time in world history, with technical advancements altering every aspect of human life (Hyman, 1975).

Analysis of Employment Relationships

Industrial relations have typically been used to refer to employment relations. In some instances, however, the term "employment relations" has been overused. Rasmussen defines the notion as the study of the interrelationships between industrial and non-industrial occupations (Rasmussen, 2009).

Employment or industrial relations have also been referred to as labor relations, mostly because they examine the relationship between labor and employment, as well as the elements that determine the two's coexistence. In a less complex formulation, we could be discussing the relationship between employees and their employers (Peter, A., & Wilkinson, A., 2003).

Conceptual Perspectives

Industrial researchers frequently employ three key theoretical approaches to explain, evaluate, compare, contrast, and analyze industrial relations. This essay focuses on two of the three hypotheses to compare, contrast, and discuss how the industrial revolution may have influenced work interactions. Marxist theory, often known as radical theory or the conflict model, and pluralist theory are examples (Kaufman, 2004). The Unitarian theory is excluded from this list.

Karl Heinrich Marx proposed the Marxist theory as a countermeasure to the Industrial Revolution. Karl Marks argues in this thesis that the industrial revolution polarized society into two classes: the bourgeoisie and the proletariat. According to Marx, the Bourgeoisie consisted of those who owned factories, land, and the means of production (Kaufman, 2004). On the other hand, he referred to the proletariat as "the working class" (Kaufman, 2004). The Bourgeoisie were masters over the proletariat, who were respective employers and employees.

According to Marxist radical theory, the society of capitalists is fundamentally split by the interests of labor and capital in employment relations. This type of perception is diametrically opposed to the nature of workplace relationships, as it assumes there are disparities in economic income and influence (Rasmussen, 2009).

According to the pluralist perspective, an industry was viewed as "a society composed of distinct but powerful entities with rights and allegiances, independence, leadership, and objectives" (Rasmussen, 2009). In a pluralistic society, we shall be discussing labor unions and management. Pluralists argue, contrary to Marxists, that employers are not concerned with control or enforcement of rules and regulations. They believe that mutual respect and cooperation are the way to proceed (Rasmussen, 2009). In this arrangement, trade unions represent employees legally, and the management deals not with the employees but with the legally autonomous union.

According to this view of pluralism, there is no single center of power, but rather multiple centers of wealth and power. To ensure that neither entity dominates the other. In this view, employers, or capitalists as Marx like to call them, and labor, or employees, each have certain rights and responsibilities that are distinct from one another (Kaufman, 2004).

When management and labor are in dispute, there will be collaboration and persuasion on both sides to find a resolution. In this instance, labor is represented by trade unions. This scenario defies the Marxist or radical belief that employers or management will dictate how a problem is settled. The working class, as defined by Karl Marx, has minimal influence on management or industrial owners (Hyman, R., 1975, & Snooks, G., 2000).

Discussions

The industrial sectors' transformation presented numerous issues for industrial relations. Employer-employee relationships underwent a strange transformation to accommodate the changing world (Hyman, 1975). Karl Heinrich Marx must have anticipated the effects of the industrial revolution prior to writing his works.

Marx, whose work dominated the philosophies of the 19th century, derived his radical idea largely from the industrialization process. He viewed the growing Industrial world as a society comprised of two groups: employers and employees, masters and slaves, factory owners and factory users, or by any other name you want (Snooks, 2000).

In the Marxist Industrial era, when employers and capitalists realized there was less demand for manual labor, employment relations became a tremendous opportunity for them to use human resources to produce valuable goods in their factories. According to Marx, capitalists wanted to make humans operate like machines in order to save money by eliminating manual labor and utilizing machines instead (Hyman, R., 1975, & Snooks, G., 2000). In contrast to machines, human labor was less expensive; therefore, capitalists took advantage of the declining need for labor to profit themselves, as the term implies.

According to Hyman's study, a large number of people were seeking employment, but just a few were being hired by factory owners. This was due to the fact that, unlike in the past, manual labor occupations were now performed by machines, requiring employers to downsize their worker force. Those left to work did so under the terms and conditions of their masters. Negotiating wages and/or salaries became impossible if you needed to acquire a job for an extended period of time (Hyman, 1975).

In opposition to the Marxist phase of industrial relations, pluralist theorists took a position. In this society, both employers and workers had a voice. According to this theory, manufacturing owners lacked the audacity to force workers to compete with machines. There were labor unions observing such actions by the masters. Both persuasion and bargaining were believed to be involved in the relationship between these societies. In the industrialized world's pluralistic society, workers had the right to dispute the earnings and salaries they received from their employers. Employers have the right to choose who they would collaborate with and the conditions of the agreement. In contrast to a Marxist society in which managers were more concerned with amassing riches than with maintaining long-term relationships, pluralists sought to preserve long-term relationships rather than accumulate wealth (Rasmussen, 2009).

Conclusion

In general, the Industrial Revolution had a significant impact on employment relations. Both the Marxist and Pluralist theoretical approaches have investigated and justified this. The two theories examine the impact of the industrial revolution on the interaction between employees and employers in industrial institutions from distinct perspectives. The type of society depicted in Marxist assumptions is not identical to the type of society observed in the pluralists' world. These two appear to contradict one another to some degree, with the pluralist theory offering more good than harm in comparison to the dominant Marxist doctrine.

References

Industrial Relations: A Marxist Introduction, published by Macmillan in New York in 1975.

Theoretical Perspectives on Work and the Employment Relationship, by B. Kaufman. Oxford Press, 2004. Industrial Relations Research Association, London.

Understanding Work and Employment: Industrial Revolution, New York: Oxford University Press, 2003, pp. 89-231.

Employment Relations in New Zealand, Pearson Education, Auckland, 2009. Rasmussen, E.

Snooks, G. Was the Industrial Revolution Really Required? Relations in a state of flux The cities of London and New York. 2000 Oxford University Press

[supanova question]

HR Management Involvement In Organizational Development And Leadership Descriptive Essay Help

Table of Contents
Introduction Personal Role as a Strategic Leader Decision Categories in the Strategic Management Process Analyzed Factors during Strategy Development Change Management Processes Conclusion Bibliography

Introduction

Strategic management and organizational development are intertwined processes, as leaders are frequently required to improve organizational performance, culture, and potential in order to achieve their chosen strategic objectives. Human resource management contributes significantly to organizational development. First, HR professionals have an in-depth awareness of the organization in which they work and the challenges it faces, allowing them to become strategic leaders by advising and guiding management. Second, the HR department can aid firms in executing strategic management processes by engaging in organizational growth, planning the execution of change, and encouraging individuals to realize their full potential.

Thirdly, HR professionals' education and experience enable them to examine numerous organizational aspects that impact the company's strategy, such as workforce, performance, and culture. Finally, HR departments can conduct organizational development and change procedures necessary for achieving strategic objectives in a manner that minimizes resistance and assures employee buy-in. All of these responsibilities are obvious in my work as a school support team leader, and this article will examine these facets of my job in depth.

Individual Function as a Strategic Leader

To qualify as a strategic leader, a job candidate must be able to influence or implement the strategic vision of his or her firm. Having responsibilities including the portrayal of a company's strategies and core values also enables a person to serve in a leadership capacity. By working in the organization's human resources department, I realize a significant portion of my strategic leadership potential.

Modern research indicates that HR-related activities are closely linked to the strategic decision-making process (Zhao et al. 258). HR professionals use their knowledge and professional intuition to "attract, retain, and develop employees" as part of their daily work duties, so contributing to the development of new strategic initiatives and objectives (Zhao et al. 259). As HR specialists are accountable for the quality of the workforce, they support the execution of strategic initiatives.

My responsibilities as the leader of the school support team include addressing timekeeping and attendance difficulties, salary reductions, resignation and retirement requests, and workplace conflicts. My organization consists of over 16000 teachers from around the world, thus I must have a solid grasp of organizational theory, culture, teamwork, development, and performance. Due to the influence of multiple elements, including as culture, politics, research, and economics, on the area of education, entities operating in education must keep a strategic focus in order to adapt to frequent environmental changes. Therefore, I also engage in strategic management and organizational growth as part of my employment.

My organization's strategic management process consists of four critical components, and I participate in each one. Initially, my organization employs analysis to identify internal and external issues that could influence the strategy and its implementation. Here, my primary responsibility is to assist in the analysis of the internal environment by evaluating the workforce's requirements, motivation, conflicts, culture, and other relevant elements. Second, during the strategy development phase, I share my findings and recommend strategic options that could assist in enhancing human capital and maximizing the potential of individual individuals and teams.

During the third step, strategy implementation, actions are made to ensure the organization can fulfill its strategic objectives. At this point, I assist in the execution of numerous projects and interventions pertaining to human resources, including training, reorganization, coaching, and other related tasks. Lastly, during strategy evaluation, I assist in the collection and presentation of information on HR-related strategic performance. Overall, my advice aids in adapting the plan to the requirements and capabilities of the workforce and supports the successful implementation of the strategy.

Decision Categories in the Process of Strategic Management

My organization's strategic management process is directly affected by five types of decisions: strategic, tactical, operational, leadership, and group. Strategic decisions are crucial to the strategic management process, as they are typically employed during strategy formulation. Strategic decisions are based on an analysis of the internal and external surroundings in order to establish the goals and direction of a company. So that goals to be attainable, strategic decisions must take into account both the status quo and the potential for improvement. In addition, it is crucial to assess whether or not the firm has the required resources to achieve a certain objective, as this will be helpful in later phases of the strategic management process.

Decisions at the tactical level examine the objectives necessary to achieve strategic goals. In my organization, this category of decisions is used throughout both strategy formulation and implementation, and it may also be used to adjust the strategy if something is not functioning as expected. The implementation of a strategy is supported by tactical decisions, which are centered on the policy modifications required to accomplish a certain strategic result.

For example, the decision to implement mandatory annual training meant to improve employees' collaboration skills is a tactical move. In this instance, it could assist in achieving the strategic objective of enhancing organizational performance and culture. In my organization, tactical choices are often decided by higher-level managers, but middle management can influence these decisions by offering information and suggestions.

I frequently make operational decisions because they are inherent to my area of responsibility. Operational decisions are a crucial component of the stage of strategy implementation, as they include adapting activities to the new strategy. For instance, if one of the strategic objectives of a business is to reduce costs, operational actions that contribute to more efficient resource utilization would promote its execution. I am needed to make choices regarding timekeeping, attendance, and bonuses as a team leader. By integrating my operational decision-making with the organization's strategy, I may contribute to goal achievement and human capital development.

Leadership decisions are essential to the strategic management process because they foster greater employee commitment, which in turn facilitates the organization's achievement of its objectives. Leadership choices include the selection of leadership styles and approaches, motivational tools, communication channels, and other HR-related elements that affect the workforce. In my role as team leader, I make numerous decisions that form my leadership and communication style in accordance with the strategic requirements of the organization. For instance, if the plan entails establishing a strong ethical culture, I may employ ethical leadership to achieve this objective. During strategy design, leadership decisions can also be taken to plan for employee opposition and conflicts.

The final category of decisions utilized in the strategic management process of my firm is group decisions. This word refers to decisions made by a stakeholder group, such as management and employees. My organization makes considerable use of group decisions during strategy creation and evaluation because they encourage a variety of thoughts and perspectives, so enabling teams to reach an informed decision. As described in the preceding section, I engage in group choices by offering information and suggestions to other strategic management stakeholders.

Analyzed factors during strategy formulation

In order to develop a viable and realistic strategy, the business must consider a wide range of elements. Due to the fact that the information and guidance I provide aids in strategy building, I am able to readily identify the aspects I consider when formulating strategies. These elements consist of organizational culture, employee motivation and commitment, abilities, needs, and available resources for strategy implementation.

Because it reflects the values shared by the organization's management and employees, organizational culture plays a crucial role in the formulation of strategy. Corporate culture analysis contributes to the formulation of a strategy in two ways. On the one hand, it can be advantageous to reject strategy decisions that would conflict with company culture and elicit substantial employee opposition. In contrast, it could highlight cultural deficiencies that must be addressed as part of a new plan to increase the organization's effectiveness.

When designing a new strategy, the motivation and dedication of employees must also be considered, as their participation is typically required for its successful execution. Moreover, these factors affect employee performance and can therefore affect other organizational results. This issue should be addressed as part of the new strategy if employee enthusiasm and commitment are lacking. Consequently, I study employee motivation and commitment based on surveys and other assessments, and present results for strategic management group decisions.

In addition, I assess personnel requirements and skills to help the formulation of strategy within my firm. First, customizing the organization's strategy to the demands of its employees makes them more at ease with any change processes and increases their commitment and engagement in the implementation. Second, evaluating the skills of employees can help identify areas that could impede successful implementation and deficiencies that can be remedied to enhance performance. Thus, examining these two elements facilitates the development of a practical strategy and facilitates its implementation inside the business.

The last benefit of examining the available resources for strategy implementation during the formulation phase is that it guarantees the chosen plan is feasible. As part of my internal analysis, I determine if employees have sufficient time to complete their jobs, if their responsibilities clash with their skills or abilities, if they lack training or education, and if they need additional funding to improve operations. The results of these surveys and interviews are submitted to other strategic team members for debate and consideration. Understanding whether there are any limits on strategy in terms of time, skills, budget, and employee qualifications facilitates the selection of a strategy that does not demand a significant commitment of resources while yet contributing to the organization's future growth.

Change Management Processes

To ensure the effectiveness of an organizational change, it is vital to implement procedures that maximize employee participation and buy-in while minimizing resistance. Before implementing a change, I would conduct a pre-change assessment to gauge employee readiness for the change and determine the skills and resources required to support the implementation. The use of surveys and observations can assist in identifying patterns of employee attitudes and actions that are beneficial or detrimental to change management. On the basis of the results, I would develop a plan for my team's change implementation that is consistent with the organization-wide implementation strategy.

Specifically, I would highlight any new roles and responsibilities that need to be given to staff, strategies to accommodate new tasks in the present workflow, and any education or training that is necessary to achieve the goals. This can aid in determining the individual and team interventions, such as coaching, training, and mentoring, that will aid in the successful execution of the strategy. Alongside the implementation plan, I would develop a comprehensive communication strategy to identify how to alert staff of the proposed change and offer them with the required support to obtain buy-in.

Once the change has been designed, I would apply the path-goal leadership theory to convey the change to employees and select the appropriate leadership style to attain greater levels of motivation. For instance, supportive leadership is particularly effective during change processes because it increases organizational support, whereas participative leadership would assist employees in viewing change as an opportunity to develop their potential and contribute to the organization.

Throughout the implementation process, I would also utilize evaluations meant to gauge the change's success and identify any deficiencies that need to be corrected. Depending on the change, various outcome measurements, such as performance, motivation, engagement, and turnover, might be employed. Lastly, if the outcomes of evaluations of change progress are positive, I would recognize personnel with incentives, team events, and recognition of individual contributions. This would aid in maintaining motivation and dedication throughout the transformation process.

Resistance to change can have a negative impact on implementation and outcomes, making the management of resistance a critical aspect of change management. According to my experience and understanding, there are four primary approaches to minimizing resistance to change. First and foremost, it is vital to carefully plan the change to ensure that employees can implement it with minimal disruptions to their normal workflow and work-life balance. Second, leaders should continue active, two-way communication throughout the change implementation process to comprehend and address any difficulties or concerns that employees may have. Thirdly, managers should constantly provide assistance for employees, thereby participating in the implementation of change. The support may include conversations, training, task delegation, and other measures to prevent major stress and burnout among employees.

The successful implementation of change should be acknowledged, and personnel should be rewarded for their dedication and cooperation. This would ensure that employees perceive the good consequences of the adjustment and the appreciation of management for their involvement.

Conclusion

Overall, my role allows me to actively participate in my organization's strategic management process. I participate in all phases of the strategic management process, from analysis to formulation to evaluation, so contributing to the future development of my firm. By examining the internal elements influencing strategy and its implementation and presenting the results to other leaders, I can influence strategic decisions and the organization's application of those decisions. I am also accountable for a number of tactical, operational, and leadership decisions that contribute to the implementation of the plan and facilitate organizational growth. Lastly, the change management tactics and tools presented in the paper would aid me in successfully implementing organizational change and minimizing employee resistance to change.

Notes cited

A Comparative Study of HR Involvement in Strategic Decision-Making in China and Australia, by Zhao, Shuming, et al.

” Chinese Management Studies, vol. 13, no. 2, 2019, pages. 258-275.

[supanova question]

HR Management Involvement In Organizational Development And Leadership Descriptive Essay Help

Table of Contents
Introduction Personal Role as a Strategic Leader Decision Categories in the Strategic Management Process Analyzed Factors during Strategy Development Change Management Processes Conclusion Bibliography

Introduction

Strategic management and organizational development are intertwined processes, as leaders are frequently required to improve organizational performance, culture, and potential in order to achieve their chosen strategic objectives. Human resource management contributes significantly to organizational development. First, HR professionals have an in-depth awareness of the organization in which they work and the challenges it faces, allowing them to become strategic leaders by advising and guiding management. Second, the HR department can aid firms in executing strategic management processes by engaging in organizational growth, planning the execution of change, and encouraging individuals to realize their full potential.

Thirdly, HR professionals' education and experience enable them to examine numerous organizational aspects that impact the company's strategy, such as workforce, performance, and culture. Finally, HR departments can conduct organizational development and change procedures necessary for achieving strategic objectives in a manner that minimizes resistance and assures employee buy-in. All of these responsibilities are obvious in my work as a school support team leader, and this article will examine these facets of my job in depth.

Individual Function as a Strategic Leader

To qualify as a strategic leader, a job candidate must be able to influence or implement the strategic vision of his or her firm. Having responsibilities including the portrayal of a company's strategies and core values also enables a person to serve in a leadership capacity. By working in the organization's human resources department, I realize a significant portion of my strategic leadership potential.

Modern research indicates that HR-related activities are closely linked to the strategic decision-making process (Zhao et al. 258). HR professionals use their knowledge and professional intuition to "attract, retain, and develop employees" as part of their daily work duties, so contributing to the development of new strategic initiatives and objectives (Zhao et al. 259). As HR specialists are accountable for the quality of the workforce, they support the execution of strategic initiatives.

My responsibilities as the leader of the school support team include addressing timekeeping and attendance difficulties, salary reductions, resignation and retirement requests, and workplace conflicts. My organization consists of over 16000 teachers from around the world, thus I must have a solid grasp of organizational theory, culture, teamwork, development, and performance. Due to the influence of multiple elements, including as culture, politics, research, and economics, on the area of education, entities operating in education must keep a strategic focus in order to adapt to frequent environmental changes. Therefore, I also engage in strategic management and organizational growth as part of my employment.

My organization's strategic management process consists of four critical components, and I participate in each one. Initially, my organization employs analysis to identify internal and external issues that could influence the strategy and its implementation. Here, my primary responsibility is to assist in the analysis of the internal environment by evaluating the workforce's requirements, motivation, conflicts, culture, and other relevant elements. Second, during the strategy development phase, I share my findings and recommend strategic options that could assist in enhancing human capital and maximizing the potential of individual individuals and teams.

During the third step, strategy implementation, actions are made to ensure the organization can fulfill its strategic objectives. At this point, I assist in the execution of numerous projects and interventions pertaining to human resources, including training, reorganization, coaching, and other related tasks. Lastly, during strategy evaluation, I assist in the collection and presentation of information on HR-related strategic performance. Overall, my advice aids in adapting the plan to the requirements and capabilities of the workforce and supports the successful implementation of the strategy.

Decision Categories in the Process of Strategic Management

My organization's strategic management process is directly affected by five types of decisions: strategic, tactical, operational, leadership, and group. Strategic decisions are crucial to the strategic management process, as they are typically employed during strategy formulation. Strategic decisions are based on an analysis of the internal and external surroundings in order to establish the goals and direction of a company. So that goals to be attainable, strategic decisions must take into account both the status quo and the potential for improvement. In addition, it is crucial to assess whether or not the firm has the required resources to achieve a certain objective, as this will be helpful in later phases of the strategic management process.

Decisions at the tactical level examine the objectives necessary to achieve strategic goals. In my organization, this category of decisions is used throughout both strategy formulation and implementation, and it may also be used to adjust the strategy if something is not functioning as expected. The implementation of a strategy is supported by tactical decisions, which are centered on the policy modifications required to accomplish a certain strategic result.

For example, the decision to implement mandatory annual training meant to improve employees' collaboration skills is a tactical move. In this instance, it could assist in achieving the strategic objective of enhancing organizational performance and culture. In my organization, tactical choices are often decided by higher-level managers, but middle management can influence these decisions by offering information and suggestions.

I frequently make operational decisions because they are inherent to my area of responsibility. Operational decisions are a crucial component of the stage of strategy implementation, as they include adapting activities to the new strategy. For instance, if one of the strategic objectives of a business is to reduce costs, operational actions that contribute to more efficient resource utilization would promote its execution. I am needed to make choices regarding timekeeping, attendance, and bonuses as a team leader. By integrating my operational decision-making with the organization's strategy, I may contribute to goal achievement and human capital development.

Leadership decisions are essential to the strategic management process because they foster greater employee commitment, which in turn facilitates the organization's achievement of its objectives. Leadership choices include the selection of leadership styles and approaches, motivational tools, communication channels, and other HR-related elements that affect the workforce. In my role as team leader, I make numerous decisions that form my leadership and communication style in accordance with the strategic requirements of the organization. For instance, if the plan entails establishing a strong ethical culture, I may employ ethical leadership to achieve this objective. During strategy design, leadership decisions can also be taken to plan for employee opposition and conflicts.

The final category of decisions utilized in the strategic management process of my firm is group decisions. This word refers to decisions made by a stakeholder group, such as management and employees. My organization makes considerable use of group decisions during strategy creation and evaluation because they encourage a variety of thoughts and perspectives, so enabling teams to reach an informed decision. As described in the preceding section, I engage in group choices by offering information and suggestions to other strategic management stakeholders.

Analyzed factors during strategy formulation

In order to develop a viable and realistic strategy, the business must consider a wide range of elements. Due to the fact that the information and guidance I provide aids in strategy building, I am able to readily identify the aspects I consider when formulating strategies. These elements consist of organizational culture, employee motivation and commitment, abilities, needs, and available resources for strategy implementation.

Because it reflects the values shared by the organization's management and employees, organizational culture plays a crucial role in the formulation of strategy. Corporate culture analysis contributes to the formulation of a strategy in two ways. On the one hand, it can be advantageous to reject strategy decisions that would conflict with company culture and elicit substantial employee opposition. In contrast, it could highlight cultural deficiencies that must be addressed as part of a new plan to increase the organization's effectiveness.

When designing a new strategy, the motivation and dedication of employees must also be considered, as their participation is typically required for its successful execution. Moreover, these factors affect employee performance and can therefore affect other organizational results. This issue should be addressed as part of the new strategy if employee enthusiasm and commitment are lacking. Consequently, I study employee motivation and commitment based on surveys and other assessments, and present results for strategic management group decisions.

In addition, I assess personnel requirements and skills to help the formulation of strategy within my firm. First, customizing the organization's strategy to the demands of its employees makes them more at ease with any change processes and increases their commitment and engagement in the implementation. Second, evaluating the skills of employees can help identify areas that could impede successful implementation and deficiencies that can be remedied to enhance performance. Thus, examining these two elements facilitates the development of a practical strategy and facilitates its implementation inside the business.

The last benefit of examining the available resources for strategy implementation during the formulation phase is that it guarantees the chosen plan is feasible. As part of my internal analysis, I determine if employees have sufficient time to complete their jobs, if their responsibilities clash with their skills or abilities, if they lack training or education, and if they need additional funding to improve operations. The results of these surveys and interviews are submitted to other strategic team members for debate and consideration. Understanding whether there are any limits on strategy in terms of time, skills, budget, and employee qualifications facilitates the selection of a strategy that does not demand a significant commitment of resources while yet contributing to the organization's future growth.

Change Management Processes

To ensure the effectiveness of an organizational change, it is vital to implement procedures that maximize employee participation and buy-in while minimizing resistance. Before implementing a change, I would conduct a pre-change assessment to gauge employee readiness for the change and determine the skills and resources required to support the implementation. The use of surveys and observations can assist in identifying patterns of employee attitudes and actions that are beneficial or detrimental to change management. On the basis of the results, I would develop a plan for my team's change implementation that is consistent with the organization-wide implementation strategy.

Specifically, I would highlight any new roles and responsibilities that need to be given to staff, strategies to accommodate new tasks in the present workflow, and any education or training that is necessary to achieve the goals. This can aid in determining the individual and team interventions, such as coaching, training, and mentoring, that will aid in the successful execution of the strategy. Alongside the implementation plan, I would develop a comprehensive communication strategy to identify how to alert staff of the proposed change and offer them with the required support to obtain buy-in.

Once the change has been designed, I would apply the path-goal leadership theory to convey the change to employees and select the appropriate leadership style to attain greater levels of motivation. For instance, supportive leadership is particularly effective during change processes because it increases organizational support, whereas participative leadership would assist employees in viewing change as an opportunity to develop their potential and contribute to the organization.

Throughout the implementation process, I would also utilize evaluations meant to gauge the change's success and identify any deficiencies that need to be corrected. Depending on the change, various outcome measurements, such as performance, motivation, engagement, and turnover, might be employed. Lastly, if the outcomes of evaluations of change progress are positive, I would recognize personnel with incentives, team events, and recognition of individual contributions. This would aid in maintaining motivation and dedication throughout the transformation process.

Resistance to change can have a negative impact on implementation and outcomes, making the management of resistance a critical aspect of change management. According to my experience and understanding, there are four primary approaches to minimizing resistance to change. First and foremost, it is vital to carefully plan the change to ensure that employees can implement it with minimal disruptions to their normal workflow and work-life balance. Second, leaders should continue active, two-way communication throughout the change implementation process to comprehend and address any difficulties or concerns that employees may have. Thirdly, managers should constantly provide assistance for employees, thereby participating in the implementation of change. The support may include conversations, training, task delegation, and other measures to prevent major stress and burnout among employees.

The successful implementation of change should be acknowledged, and personnel should be rewarded for their dedication and cooperation. This would ensure that employees perceive the good consequences of the adjustment and the appreciation of management for their involvement.

Conclusion

Overall, my role allows me to actively participate in my organization's strategic management process. I participate in all phases of the strategic management process, from analysis to formulation to evaluation, so contributing to the future development of my firm. By examining the internal elements influencing strategy and its implementation and presenting the results to other leaders, I can influence strategic decisions and the organization's application of those decisions. I am also accountable for a number of tactical, operational, and leadership decisions that contribute to the implementation of the plan and facilitate organizational growth. Lastly, the change management tactics and tools presented in the paper would aid me in successfully implementing organizational change and minimizing employee resistance to change.

Notes cited

A Comparative Study of HR Involvement in Strategic Decision-Making in China and Australia, by Zhao, Shuming, et al.

” Chinese Management Studies, vol. 13, no. 2, 2019, pages. 258-275.

[supanova question]

HR Management Involvement In Organizational Development And Leadership Descriptive Essay Help

Table of Contents
Introduction Personal Role as a Strategic Leader Decision Categories in the Strategic Management Process Analyzed Factors during Strategy Development Change Management Processes Conclusion Bibliography

Introduction

Strategic management and organizational development are intertwined processes, as leaders are frequently required to improve organizational performance, culture, and potential in order to achieve their chosen strategic objectives. Human resource management contributes significantly to organizational development. First, HR professionals have an in-depth awareness of the organization in which they work and the challenges it faces, allowing them to become strategic leaders by advising and guiding management. Second, the HR department can aid firms in executing strategic management processes by engaging in organizational growth, planning the execution of change, and encouraging individuals to realize their full potential.

Thirdly, HR professionals' education and experience enable them to examine numerous organizational aspects that impact the company's strategy, such as workforce, performance, and culture. Finally, HR departments can conduct organizational development and change procedures necessary for achieving strategic objectives in a manner that minimizes resistance and assures employee buy-in. All of these responsibilities are obvious in my work as a school support team leader, and this article will examine these facets of my job in depth.

Individual Function as a Strategic Leader

To qualify as a strategic leader, a job candidate must be able to influence or implement the strategic vision of his or her firm. Having responsibilities including the portrayal of a company's strategies and core values also enables a person to serve in a leadership capacity. By working in the organization's human resources department, I realize a significant portion of my strategic leadership potential.

Modern research indicates that HR-related activities are closely linked to the strategic decision-making process (Zhao et al. 258). HR professionals use their knowledge and professional intuition to "attract, retain, and develop employees" as part of their daily work duties, so contributing to the development of new strategic initiatives and objectives (Zhao et al. 259). As HR specialists are accountable for the quality of the workforce, they support the execution of strategic initiatives.

My responsibilities as the leader of the school support team include addressing timekeeping and attendance difficulties, salary reductions, resignation and retirement requests, and workplace conflicts. My organization consists of over 16000 teachers from around the world, thus I must have a solid grasp of organizational theory, culture, teamwork, development, and performance. Due to the influence of multiple elements, including as culture, politics, research, and economics, on the area of education, entities operating in education must keep a strategic focus in order to adapt to frequent environmental changes. Therefore, I also engage in strategic management and organizational growth as part of my employment.

My organization's strategic management process consists of four critical components, and I participate in each one. Initially, my organization employs analysis to identify internal and external issues that could influence the strategy and its implementation. Here, my primary responsibility is to assist in the analysis of the internal environment by evaluating the workforce's requirements, motivation, conflicts, culture, and other relevant elements. Second, during the strategy development phase, I share my findings and recommend strategic options that could assist in enhancing human capital and maximizing the potential of individual individuals and teams.

During the third step, strategy implementation, actions are made to ensure the organization can fulfill its strategic objectives. At this point, I assist in the execution of numerous projects and interventions pertaining to human resources, including training, reorganization, coaching, and other related tasks. Lastly, during strategy evaluation, I assist in the collection and presentation of information on HR-related strategic performance. Overall, my advice aids in adapting the plan to the requirements and capabilities of the workforce and supports the successful implementation of the strategy.

Decision Categories in the Process of Strategic Management

My organization's strategic management process is directly affected by five types of decisions: strategic, tactical, operational, leadership, and group. Strategic decisions are crucial to the strategic management process, as they are typically employed during strategy formulation. Strategic decisions are based on an analysis of the internal and external surroundings in order to establish the goals and direction of a company. So that goals to be attainable, strategic decisions must take into account both the status quo and the potential for improvement. In addition, it is crucial to assess whether or not the firm has the required resources to achieve a certain objective, as this will be helpful in later phases of the strategic management process.

Decisions at the tactical level examine the objectives necessary to achieve strategic goals. In my organization, this category of decisions is used throughout both strategy formulation and implementation, and it may also be used to adjust the strategy if something is not functioning as expected. The implementation of a strategy is supported by tactical decisions, which are centered on the policy modifications required to accomplish a certain strategic result.

For example, the decision to implement mandatory annual training meant to improve employees' collaboration skills is a tactical move. In this instance, it could assist in achieving the strategic objective of enhancing organizational performance and culture. In my organization, tactical choices are often decided by higher-level managers, but middle management can influence these decisions by offering information and suggestions.

I frequently make operational decisions because they are inherent to my area of responsibility. Operational decisions are a crucial component of the stage of strategy implementation, as they include adapting activities to the new strategy. For instance, if one of the strategic objectives of a business is to reduce costs, operational actions that contribute to more efficient resource utilization would promote its execution. I am needed to make choices regarding timekeeping, attendance, and bonuses as a team leader. By integrating my operational decision-making with the organization's strategy, I may contribute to goal achievement and human capital development.

Leadership decisions are essential to the strategic management process because they foster greater employee commitment, which in turn facilitates the organization's achievement of its objectives. Leadership choices include the selection of leadership styles and approaches, motivational tools, communication channels, and other HR-related elements that affect the workforce. In my role as team leader, I make numerous decisions that form my leadership and communication style in accordance with the strategic requirements of the organization. For instance, if the plan entails establishing a strong ethical culture, I may employ ethical leadership to achieve this objective. During strategy design, leadership decisions can also be taken to plan for employee opposition and conflicts.

The final category of decisions utilized in the strategic management process of my firm is group decisions. This word refers to decisions made by a stakeholder group, such as management and employees. My organization makes considerable use of group decisions during strategy creation and evaluation because they encourage a variety of thoughts and perspectives, so enabling teams to reach an informed decision. As described in the preceding section, I engage in group choices by offering information and suggestions to other strategic management stakeholders.

Analyzed factors during strategy formulation

In order to develop a viable and realistic strategy, the business must consider a wide range of elements. Due to the fact that the information and guidance I provide aids in strategy building, I am able to readily identify the aspects I consider when formulating strategies. These elements consist of organizational culture, employee motivation and commitment, abilities, needs, and available resources for strategy implementation.

Because it reflects the values shared by the organization's management and employees, organizational culture plays a crucial role in the formulation of strategy. Corporate culture analysis contributes to the formulation of a strategy in two ways. On the one hand, it can be advantageous to reject strategy decisions that would conflict with company culture and elicit substantial employee opposition. In contrast, it could highlight cultural deficiencies that must be addressed as part of a new plan to increase the organization's effectiveness.

When designing a new strategy, the motivation and dedication of employees must also be considered, as their participation is typically required for its successful execution. Moreover, these factors affect employee performance and can therefore affect other organizational results. This issue should be addressed as part of the new strategy if employee enthusiasm and commitment are lacking. Consequently, I study employee motivation and commitment based on surveys and other assessments, and present results for strategic management group decisions.

In addition, I assess personnel requirements and skills to help the formulation of strategy within my firm. First, customizing the organization's strategy to the demands of its employees makes them more at ease with any change processes and increases their commitment and engagement in the implementation. Second, evaluating the skills of employees can help identify areas that could impede successful implementation and deficiencies that can be remedied to enhance performance. Thus, examining these two elements facilitates the development of a practical strategy and facilitates its implementation inside the business.

The last benefit of examining the available resources for strategy implementation during the formulation phase is that it guarantees the chosen plan is feasible. As part of my internal analysis, I determine if employees have sufficient time to complete their jobs, if their responsibilities clash with their skills or abilities, if they lack training or education, and if they need additional funding to improve operations. The results of these surveys and interviews are submitted to other strategic team members for debate and consideration. Understanding whether there are any limits on strategy in terms of time, skills, budget, and employee qualifications facilitates the selection of a strategy that does not demand a significant commitment of resources while yet contributing to the organization's future growth.

Change Management Processes

To ensure the effectiveness of an organizational change, it is vital to implement procedures that maximize employee participation and buy-in while minimizing resistance. Before implementing a change, I would conduct a pre-change assessment to gauge employee readiness for the change and determine the skills and resources required to support the implementation. The use of surveys and observations can assist in identifying patterns of employee attitudes and actions that are beneficial or detrimental to change management. On the basis of the results, I would develop a plan for my team's change implementation that is consistent with the organization-wide implementation strategy.

Specifically, I would highlight any new roles and responsibilities that need to be given to staff, strategies to accommodate new tasks in the present workflow, and any education or training that is necessary to achieve the goals. This can aid in determining the individual and team interventions, such as coaching, training, and mentoring, that will aid in the successful execution of the strategy. Alongside the implementation plan, I would develop a comprehensive communication strategy to identify how to alert staff of the proposed change and offer them with the required support to obtain buy-in.

Once the change has been designed, I would apply the path-goal leadership theory to convey the change to employees and select the appropriate leadership style to attain greater levels of motivation. For instance, supportive leadership is particularly effective during change processes because it increases organizational support, whereas participative leadership would assist employees in viewing change as an opportunity to develop their potential and contribute to the organization.

Throughout the implementation process, I would also utilize evaluations meant to gauge the change's success and identify any deficiencies that need to be corrected. Depending on the change, various outcome measurements, such as performance, motivation, engagement, and turnover, might be employed. Lastly, if the outcomes of evaluations of change progress are positive, I would recognize personnel with incentives, team events, and recognition of individual contributions. This would aid in maintaining motivation and dedication throughout the transformation process.

Resistance to change can have a negative impact on implementation and outcomes, making the management of resistance a critical aspect of change management. According to my experience and understanding, there are four primary approaches to minimizing resistance to change. First and foremost, it is vital to carefully plan the change to ensure that employees can implement it with minimal disruptions to their normal workflow and work-life balance. Second, leaders should continue active, two-way communication throughout the change implementation process to comprehend and address any difficulties or concerns that employees may have. Thirdly, managers should constantly provide assistance for employees, thereby participating in the implementation of change. The support may include conversations, training, task delegation, and other measures to prevent major stress and burnout among employees.

The successful implementation of change should be acknowledged, and personnel should be rewarded for their dedication and cooperation. This would ensure that employees perceive the good consequences of the adjustment and the appreciation of management for their involvement.

Conclusion

Overall, my role allows me to actively participate in my organization's strategic management process. I participate in all phases of the strategic management process, from analysis to formulation to evaluation, so contributing to the future development of my firm. By examining the internal elements influencing strategy and its implementation and presenting the results to other leaders, I can influence strategic decisions and the organization's application of those decisions. I am also accountable for a number of tactical, operational, and leadership decisions that contribute to the implementation of the plan and facilitate organizational growth. Lastly, the change management tactics and tools presented in the paper would aid me in successfully implementing organizational change and minimizing employee resistance to change.

Notes cited

A Comparative Study of HR Involvement in Strategic Decision-Making in China and Australia, by Zhao, Shuming, et al.

” Chinese Management Studies, vol. 13, no. 2, 2019, pages. 258-275.

[supanova question]

Nokia Marketing Plan Analysis Descriptive Essay Help

Executive synopsis

Nokia, the world's first manufacturer of mobile phones, offers numerous devices with distinct features. This report provides a marketing strategy for promoting these products. Nokia conducts business virtually everywhere on the planet. However, not all of its items have been brought to every market. Consequently, Nokia must deploy alternative marketing tactics for its products. Deregulation can help Nokia acquire the largest market share feasible. Nokia, unsatisfied with its current offerings, has continued to invent new items with advanced technologies.

Introduction

According to Hitt, Ireland, and Hoskisson (2001, p.210), a marketing strategy is a document designed to meet a company's marketing goals for a particular product or brand. It also provides a successful marketing plan for the company's marketing operations. The marketing plan also stated the duration of the company's marketing activity for the designated product. Potential consumers and users of a cell phone firm are offered a variety of communication methods, social standing, and areas of interest. Initially, cell phones were solely used for conversing and sending text messages. The use has since expanded to include internet browsing, image messaging, music and video listening, and more. Today, cell phones are not only the most widespread means of communication, but also a status symbol for customers' way of life. (Wei, 2007: p-3)

Company analysis

Context of Selected Organization (Nokia)

In this marketing campaign, Nokia has identified image, games, media, and business as leading cell phone communications and information links among users. It was founded in 1865 by a mining engineer who constructed a wood pulp mill in southern Finland for the production of paper. In the next century, it continued as a chemicals and rubber firm. In 1960, Nokia, a telecommunications corporation, began experimenting with digital telephone exchange. 1980 saw the development of portable car mobile phones and hand portable phones. It has concentrated on non-telecommunications and mobile handset industry since 1990. Currently, Nokia generates more than $27 billion in revenues in 130 countries throughout the globe, with 60,000 employees, and its objective is "connecting people" (Nokia Australia Pty Ltd, 2006: p-1). Currently, Nokia is utilizing professional services in a global network to establish a marketing plan for mobility solutions, with a more in-depth explanation provided in a subsequent study.

SWOT Analysis

Nokia conducts its global operations through three divisions: Nokia Mobile Phones, Nokia Networks, and Nokia Ventures Organisation. With its comprehensive mobile phone business, it has enabled numerous advantages and prospects. In addition, Cheng et al. (2005) stated that the company's ability to conduct business on a worldwide scale has been hampered by organizational deficiencies and external challenges. The SWOT analysis of Nokia is depicted in the diagram that follows.

Figure I: Self-Generated SWOT Analysis of Nokia Strengths

According to Nokia's 2008 annual report, the company has the greatest network and distribution of mobile phones in the world, and its products and employees are of the highest quality. For this reason, it has a great deal of strength, which is advantageous for conducting business in the near future as explained below.

Strong Brand Reputation: Nokia dominates the worldwide mobile phone market with an abundance of handsets. With its strong market position and excellent quality products, it is gaining the top spot among the top 20 brands in the globe (Nokia Corporation, 2008 p. 9). Nokia mobile phones are the best-selling brand in the world, with a variety of manufacturing facilities and eco-friendly features. It produces diverse product lines for all target consumer demographics. Nokia produces a wide variety of mobile phones for various classes of people around the world. It is also widely recognized as an innovative designer in the mobile phone industry. Strong Financial Value: The company has strong financial values and operates numerous profitable enterprises abroad. The Nokia mobile phone has a high resale value compared to other brands. Nokia is the leading cell phone manufacturer with a 33% market share, and it also has a major share of the GSM market. With decreased R&D expenditures, the business has grown in size. 2007; Hill and Jones; page 78

Weakness

In addition to its many strengths, Nokia has several drawbacks, notably the pricing of its products and many more, which are listed below.

Some mobile phones that are now on the market are not very user-friendly and are occasionally also hazardous to the environment (Mikkonen, O. 2004, p.6). apathetic regarding Lower Income Group: With its high-priced products, Nokia is not focusing on the lower income group and is not directing any promotional efforts in their direction. After-Sales Services in Developing Countries: In developing countries, there are just a handful of service centres that provide inadequate after-sales services. Low Market Share in the United States and Japan: The United States and Japan are the most promising markets for mobile phones, yet Nokia is unable to capture the maximum market share in both nations. Dependent on Profitability: While Nokia is widely recognized as a mobile phone manufacturer, its other operations have not concentrated on the market. The majority of the profit was also generated from the sale of mobile phones.

Opportunities

Nokia has numerous prospects in external markets, including the international and regional markets. Several chances for Nokia are highlighted below:

3G and CDMA Cellular Market: With the most advanced 3G cellular market innovation, Nokia is developing its company in Asia and the United States. It also increases its business possibilities in the CDMA and Edge markets. In the global market for mobile phones, Nokia is identifying potential new markets in India and other emerging nations. Lowering Environmental Repercussions: Nokia's specialized team is reducing the detrimental aspects of mobile phone use that cause environmental impacts. Expanding Partnership Business: Nokia is seizing the market by collaborating with multiple SIM manufacturers, which will aid in attracting the target market. Preferred Infrastructure Business: As an infrastructure business with a stronger brand position and coverage of advanced technologies, Nokia is universally favored.

Threats

When Nokia faces external obstacles to its business, such as competitors, the government, and other issues, it focuses on these as dangers to the corporation. Several threats are discussed below:

Major Competitors: Japanese 3G mobile phone manufacturers are Nokia's major competitors since they sell their mobile phones at the lowest prices, which are the main draw for individuals with low and intermediate incomes. Other competitors, including Sony Ericsson, Blackberry, Siemens, and many more, are focussing on the innovation of new phones. Whereas, Nokia is less committed to innovation than its rivals. Insufficient 3G Game Creators: As with other competitors, Motorola, LG, NEC, etc. develop 3G gaming capabilities for their mobile phones considerably faster than Nokia.

Objectives

Business Objectives

Nokia is reaching its company purpose through sustaining working relationships and implementing environmentally sustainable practices. (Nokia Corporation Environmental Report, 2004: p.30) Other ambitions of Nokia include:

Making a commitment to provide valued products and superior services to customers, enhancing personal communications with customers and other constituents, Continuously innovating its products for the target market, Being the leading designer and manufacturer of mobile and display goods in the market. (Cheng, et al 2005, p. 88)

Promotional Objectives

Nokia is a market-driven organization, thus it must establish marketing objectives to achieve its mission. Nokia's marketing aims are:

To achieve client satisfaction by meeting their product and service requirements. To sustain customers' opinion of Nokia's products' value, quality, fashion, and dependability To anticipate future client requirements and expectations by monitoring the existing market and estimating future sales. To earn income through satisfying the organization's stakeholders. To develop products and markets through designing the company's marketing strategies. This is essential for the company's continued market viability in order to maintain technological progress. (Anon, 2009)

Classification and targeting

Nokia's business model is predicated on mass marketing. Nokia is engaged in mass production of mobile devices, mass distribution in nearly every part of the globe, and mass marketing of its differentiated products. As Nokia conducts business in nearly every country on earth, their mass marketing techniques rely heavily on segmentation and targeting strategies. (Kotler & Armstrong 2006, p. 114)

Recognition of Segments

Starting a business in a new country or region depends not only on its physical location, but also on the local population. Not every citizen of a nation can be a consumer. Identifying potential clients or customer segments is crucial for this purpose. To select the ideal market category, Nokia must first consider the preferences of its customers. There are three types of preference-based segmentation. These include:

Figure II: segmentation based on preferences (self generated)

Homogenous preferences refers to a segmentation in which all potential customers share nearly identical product preferences. In a diffused preference group, customers' preferences are dispersed over the territory and are nearly distinct. Finally, the clustered market preferences are comprised of similar preferences within a single cluster and numerous clusters with distinct preferences. To identify the actual market segment, Nokia must focus on these and tailor its product offerings to client preferences. (Kotler & Keller 2006: p.241-242)

Any strategy to mass marketing, whether it be local marketing or specialty marketing, is heavily dependent on four factors. These include:

Figure-III: segmentation base (self generated) Geographical Factors

Nokia should select the optimal geographic region for their operations. Prior to this, it had established operations in numerous nations that lacked the necessary infrastructure for handset assembly. Because of this, Nokia had to import phones and devices produced in far-flung nations where it had assembly operations. These endeavors required substantial financial and other resources. To reduce these sorts of loss, Nokia should find a suitable site for the establishment of assembly operations. In addition, not all towns or regions in the chosen nation are suitable for the marketing of mobile phone sets. Nokia should target individuals in cities and places that are easily reachable and communicative. (Hitt, et al, 2001, p. 128)

Demographic Support

Customer preferences vary significantly based on demographic characteristics. Students want multimedia televisions, whilst seniors favor transportable televisions that are simple to operate. Nokia should design its products with the understanding that mobile phone usage is largely dependent on the user's gender, income, occupation, level of education, religion, race, nationality, social class, and stage of life. People with lower incomes cannot buy a Nokia E-series mobile phone. Consequently, the product must be within the income range of the population. Nokia should diversify its products in a way that allows everyone to afford at least one of them. (Dobson et al, 2004, p. 301)

Behavioral Foundations

Different customers have distinct behavioral tendencies. Nokia must examine how individuals perceive its products. Different sorts of knowledge influence the buying decisions of these clients. Additionally, the mindsets of the individuals vary. A British citizen, for instance, may opt to purchase a mobile phone from Vodafone rather than Finnish Nokia. Nokia must examine these behavioral viewpoints and design their goods in accordance with the segment's behavioral pattern. (Kotler & Keller, 2006:p.255)

Demographic Factors

Psychographic segmentation is differentiating customers based on their psychological characteristics. Nokia should develop its products based on the notion that customers are segmented based on psychographic characteristics, lifestyle, and values. Some people have great self-esteem, some have evaluated the usefulness of the product, some desire luxury products, and some enjoy switching things for the sake of variety. Some individuals with minimal psychological resources can be loyal consumers or become survivors, creators, or achievers. Therefore, mobile sets should be designed to meet the needs of each of these demographic groups. (Dess & Lumpkin, 2008, p. 118)

Target Segments

Nokia should pick a market niche that is geographically accessible and where a manufacturing site may be located. Nokia should target a nation or region where mobile phones are the primary means of communication amongst individuals. In addition, the market segment must target the younger generation because mobile phone usage is prevalent among this demographic. Taking into account the income of the population, Nokia should provide devices for those with lesser incomes as well as those with higher incomes who can afford expensive, multifunctional sets. Nokia must provide differentiated offerings for the many behavioral types of consumers. In addition, mobile phone sets must be designed with the psychographic characteristics of the targeted segments in mind.

Positioning

Positioning refers to the activities undertaken to convey the organization's offers and create an image of the organization's product in the minds of clients. POPs and characteristics that differentiate a company's products from those of its competitors are the two primary variables in determining a company's positioning (PODs). The selection of POPs and PODs is based on deliverability (feasibility, communicability, and sustainability) and desirability (relevance, distinctiveness, and believability). Following the selection of POPs and PODs, the positioning strategy would have chosen. There are four distinct sorts of tactics. These include:

Positioning methods are displayed in Figure-IV. Self-generated data from Johnson et al. (2006), page 287 Proposed Placement

Nokia should select either the product development strategy or the market development strategy from the four positioning strategies presented below. The reason for these choices is Nokia's capacity and resources to develop new products. In addition, there are other countries where not every Nokia product is available. It can maximize the use of its limited resources if it develops newer, more distinctive items and positions them in its existing markets or markets its existing products in a new market.

Marketing Strategies

Thompson, A., et al. (2007, p. 112) said that marketing strategies are the techniques that ensure the success of production, operation, and marketing activities. A company like Nokia must select its marketing techniques in accordance with its marketing mix. In light of the fact that Nokia mobile phones have serviceability in addition to their product qualities, it has seven separate marketing mix components. These include:

Product

Nokia mobile phones must be designed to appeal to all target market segment consumers. Taking into account the segmentation criteria, the products should match client desire. Nokia consistently produces creative, fashionable, and advanced products with cutting-edge technology. The items would be modified in response to changes in client demand and advances in technology. (David, 2008, p. 342)

Price

The price of the products should also follow the customer needs considering the segmentation bases. Nokia always price its products based on

Nokia Marketing Plan Analysis Descriptive Essay Help

Executive synopsis

Nokia, the world's first manufacturer of mobile phones, offers numerous devices with distinct features. This report provides a marketing strategy for promoting these products. Nokia conducts business virtually everywhere on the planet. However, not all of its items have been brought to every market. Consequently, Nokia must deploy alternative marketing tactics for its products. Deregulation can help Nokia acquire the largest market share feasible. Nokia, unsatisfied with its current offerings, has continued to invent new items with advanced technologies.

Introduction

According to Hitt, Ireland, and Hoskisson (2001, p.210), a marketing strategy is a document designed to meet a company's marketing goals for a particular product or brand. It also provides a successful marketing plan for the company's marketing operations. The marketing plan also stated the duration of the company's marketing activity for the designated product. Potential consumers and users of a cell phone firm are offered a variety of communication methods, social standing, and areas of interest. Initially, cell phones were solely used for conversing and sending text messages. The use has since expanded to include internet browsing, image messaging, music and video listening, and more. Today, cell phones are not only the most widespread means of communication, but also a status symbol for customers' way of life. (Wei, 2007: p-3)

Company analysis

Context of Selected Organization (Nokia)

In this marketing campaign, Nokia has identified image, games, media, and business as leading cell phone communications and information links among users. It was founded in 1865 by a mining engineer who constructed a wood pulp mill in southern Finland for the production of paper. In the next century, it continued as a chemicals and rubber firm. In 1960, Nokia, a telecommunications corporation, began experimenting with digital telephone exchange. 1980 saw the development of portable car mobile phones and hand portable phones. It has concentrated on non-telecommunications and mobile handset industry since 1990. Currently, Nokia generates more than $27 billion in revenues in 130 countries throughout the globe, with 60,000 employees, and its objective is "connecting people" (Nokia Australia Pty Ltd, 2006: p-1). Currently, Nokia is utilizing professional services in a global network to establish a marketing plan for mobility solutions, with a more in-depth explanation provided in a subsequent study.

SWOT Analysis

Nokia conducts its global operations through three divisions: Nokia Mobile Phones, Nokia Networks, and Nokia Ventures Organisation. With its comprehensive mobile phone business, it has enabled numerous advantages and prospects. In addition, Cheng et al. (2005) stated that the company's ability to conduct business on a worldwide scale has been hampered by organizational deficiencies and external challenges. The SWOT analysis of Nokia is depicted in the diagram that follows.

Figure I: Self-Generated SWOT Analysis of Nokia Strengths

According to Nokia's 2008 annual report, the company has the greatest network and distribution of mobile phones in the world, and its products and employees are of the highest quality. For this reason, it has a great deal of strength, which is advantageous for conducting business in the near future as explained below.

Strong Brand Reputation: Nokia dominates the worldwide mobile phone market with an abundance of handsets. With its strong market position and excellent quality products, it is gaining the top spot among the top 20 brands in the globe (Nokia Corporation, 2008 p. 9). Nokia mobile phones are the best-selling brand in the world, with a variety of manufacturing facilities and eco-friendly features. It produces diverse product lines for all target consumer demographics. Nokia produces a wide variety of mobile phones for various classes of people around the world. It is also widely recognized as an innovative designer in the mobile phone industry. Strong Financial Value: The company has strong financial values and operates numerous profitable enterprises abroad. The Nokia mobile phone has a high resale value compared to other brands. Nokia is the leading cell phone manufacturer with a 33% market share, and it also has a major share of the GSM market. With decreased R&D expenditures, the business has grown in size. 2007; Hill and Jones; page 78

Weakness

In addition to its many strengths, Nokia has several drawbacks, notably the pricing of its products and many more, which are listed below.

Some mobile phones that are now on the market are not very user-friendly and are occasionally also hazardous to the environment (Mikkonen, O. 2004, p.6). apathetic regarding Lower Income Group: With its high-priced products, Nokia is not focusing on the lower income group and is not directing any promotional efforts in their direction. After-Sales Services in Developing Countries: In developing countries, there are just a handful of service centres that provide inadequate after-sales services. Low Market Share in the United States and Japan: The United States and Japan are the most promising markets for mobile phones, yet Nokia is unable to capture the maximum market share in both nations. Dependent on Profitability: While Nokia is widely recognized as a mobile phone manufacturer, its other operations have not concentrated on the market. The majority of the profit was also generated from the sale of mobile phones.

Opportunities

Nokia has numerous prospects in external markets, including the international and regional markets. Several chances for Nokia are highlighted below:

3G and CDMA Cellular Market: With the most advanced 3G cellular market innovation, Nokia is developing its company in Asia and the United States. It also increases its business possibilities in the CDMA and Edge markets. In the global market for mobile phones, Nokia is identifying potential new markets in India and other emerging nations. Lowering Environmental Repercussions: Nokia's specialized team is reducing the detrimental aspects of mobile phone use that cause environmental impacts. Expanding Partnership Business: Nokia is seizing the market by collaborating with multiple SIM manufacturers, which will aid in attracting the target market. Preferred Infrastructure Business: As an infrastructure business with a stronger brand position and coverage of advanced technologies, Nokia is universally favored.

Threats

When Nokia faces external obstacles to its business, such as competitors, the government, and other issues, it focuses on these as dangers to the corporation. Several threats are discussed below:

Major Competitors: Japanese 3G mobile phone manufacturers are Nokia's major competitors since they sell their mobile phones at the lowest prices, which are the main draw for individuals with low and intermediate incomes. Other competitors, including Sony Ericsson, Blackberry, Siemens, and many more, are focussing on the innovation of new phones. Whereas, Nokia is less committed to innovation than its rivals. Insufficient 3G Game Creators: As with other competitors, Motorola, LG, NEC, etc. develop 3G gaming capabilities for their mobile phones considerably faster than Nokia.

Objectives

Business Objectives

Nokia is reaching its company purpose through sustaining working relationships and implementing environmentally sustainable practices. (Nokia Corporation Environmental Report, 2004: p.30) Other ambitions of Nokia include:

Making a commitment to provide valued products and superior services to customers, enhancing personal communications with customers and other constituents, Continuously innovating its products for the target market, Being the leading designer and manufacturer of mobile and display goods in the market. (Cheng, et al 2005, p. 88)

Promotional Objectives

Nokia is a market-driven organization, thus it must establish marketing objectives to achieve its mission. Nokia's marketing aims are:

To achieve client satisfaction by meeting their product and service requirements. To sustain customers' opinion of Nokia's products' value, quality, fashion, and dependability To anticipate future client requirements and expectations by monitoring the existing market and estimating future sales. To earn income through satisfying the organization's stakeholders. To develop products and markets through designing the company's marketing strategies. This is essential for the company's continued market viability in order to maintain technological progress. (Anon, 2009)

Classification and targeting

Nokia's business model is predicated on mass marketing. Nokia is engaged in mass production of mobile devices, mass distribution in nearly every part of the globe, and mass marketing of its differentiated products. As Nokia conducts business in nearly every country on earth, their mass marketing techniques rely heavily on segmentation and targeting strategies. (Kotler & Armstrong 2006, p. 114)

Recognition of Segments

Starting a business in a new country or region depends not only on its physical location, but also on the local population. Not every citizen of a nation can be a consumer. Identifying potential clients or customer segments is crucial for this purpose. To select the ideal market category, Nokia must first consider the preferences of its customers. There are three types of preference-based segmentation. These include:

Figure II: segmentation based on preferences (self generated)

Homogenous preferences refers to a segmentation in which all potential customers share nearly identical product preferences. In a diffused preference group, customers' preferences are dispersed over the territory and are nearly distinct. Finally, the clustered market preferences are comprised of similar preferences within a single cluster and numerous clusters with distinct preferences. To identify the actual market segment, Nokia must focus on these and tailor its product offerings to client preferences. (Kotler & Keller 2006: p.241-242)

Any strategy to mass marketing, whether it be local marketing or specialty marketing, is heavily dependent on four factors. These include:

Figure-III: segmentation base (self generated) Geographical Factors

Nokia should select the optimal geographic region for their operations. Prior to this, it had established operations in numerous nations that lacked the necessary infrastructure for handset assembly. Because of this, Nokia had to import phones and devices produced in far-flung nations where it had assembly operations. These endeavors required substantial financial and other resources. To reduce these sorts of loss, Nokia should find a suitable site for the establishment of assembly operations. In addition, not all towns or regions in the chosen nation are suitable for the marketing of mobile phone sets. Nokia should target individuals in cities and places that are easily reachable and communicative. (Hitt, et al, 2001, p. 128)

Demographic Support

Customer preferences vary significantly based on demographic characteristics. Students want multimedia televisions, whilst seniors favor transportable televisions that are simple to operate. Nokia should design its products with the understanding that mobile phone usage is largely dependent on the user's gender, income, occupation, level of education, religion, race, nationality, social class, and stage of life. People with lower incomes cannot buy a Nokia E-series mobile phone. Consequently, the product must be within the income range of the population. Nokia should diversify its products in a way that allows everyone to afford at least one of them. (Dobson et al, 2004, p. 301)

Behavioral Foundations

Different customers have distinct behavioral tendencies. Nokia must examine how individuals perceive its products. Different sorts of knowledge influence the buying decisions of these clients. Additionally, the mindsets of the individuals vary. A British citizen, for instance, may opt to purchase a mobile phone from Vodafone rather than Finnish Nokia. Nokia must examine these behavioral viewpoints and design their goods in accordance with the segment's behavioral pattern. (Kotler & Keller, 2006:p.255)

Demographic Factors

Psychographic segmentation is differentiating customers based on their psychological characteristics. Nokia should develop its products based on the notion that customers are segmented based on psychographic characteristics, lifestyle, and values. Some people have great self-esteem, some have evaluated the usefulness of the product, some desire luxury products, and some enjoy switching things for the sake of variety. Some individuals with minimal psychological resources can be loyal consumers or become survivors, creators, or achievers. Therefore, mobile sets should be designed to meet the needs of each of these demographic groups. (Dess & Lumpkin, 2008, p. 118)

Target Segments

Nokia should pick a market niche that is geographically accessible and where a manufacturing site may be located. Nokia should target a nation or region where mobile phones are the primary means of communication amongst individuals. In addition, the market segment must target the younger generation because mobile phone usage is prevalent among this demographic. Taking into account the income of the population, Nokia should provide devices for those with lesser incomes as well as those with higher incomes who can afford expensive, multifunctional sets. Nokia must provide differentiated offerings for the many behavioral types of consumers. In addition, mobile phone sets must be designed with the psychographic characteristics of the targeted segments in mind.

Positioning

Positioning refers to the activities undertaken to convey the organization's offers and create an image of the organization's product in the minds of clients. POPs and characteristics that differentiate a company's products from those of its competitors are the two primary variables in determining a company's positioning (PODs). The selection of POPs and PODs is based on deliverability (feasibility, communicability, and sustainability) and desirability (relevance, distinctiveness, and believability). Following the selection of POPs and PODs, the positioning strategy would have chosen. There are four distinct sorts of tactics. These include:

Positioning methods are displayed in Figure-IV. Self-generated data from Johnson et al. (2006), page 287 Proposed Placement

Nokia should select either the product development strategy or the market development strategy from the four positioning strategies presented below. The reason for these choices is Nokia's capacity and resources to develop new products. In addition, there are other countries where not every Nokia product is available. It can maximize the use of its limited resources if it develops newer, more distinctive items and positions them in its existing markets or markets its existing products in a new market.

Marketing Strategies

Thompson, A., et al. (2007, p. 112) said that marketing strategies are the techniques that ensure the success of production, operation, and marketing activities. A company like Nokia must select its marketing techniques in accordance with its marketing mix. In light of the fact that Nokia mobile phones have serviceability in addition to their product qualities, it has seven separate marketing mix components. These include:

Product

Nokia mobile phones must be designed to appeal to all target market segment consumers. Taking into account the segmentation criteria, the products should match client desire. Nokia consistently produces creative, fashionable, and advanced products with cutting-edge technology. The items would be modified in response to changes in client demand and advances in technology. (David, 2008, p. 342)

Price

The price of the products should also follow the customer needs considering the segmentation bases. Nokia always price its products based on

The Impact Of The Financial Crisis On Almarai Company Descriptive Essay Help

Introduction

Almarai Company is the largest dairy manufacturer in Saudi Arabia. It operates dairy farms, manufactures processed foods, and distributes all of its farm goods including fruit juices. It is a well-established corporation in the Middle East that seeks to consolidate its position in the region and expand into other nations. It announced a deal with PepsiCo, the world's largest beverage business, in February of this year. This is evidence that Almarai is the most successful and fastest-growing firm in the Middle East. This alliance aims to expand to all other Middle Eastern, African, and Southeast Asian regions. International Dairy and Juice is the name of the new collaboration, in which PepsiCo owns 52% and Almarai owns 48%. (Krugman and Wells 145).

For its expansion, Almarai has announced a multimillion-dollar investment. Within one and a half years of its investment, this facility will begin operations and market its food goods. Alastair McGuckian and Paddy founded Almarai Company in 1976 in partnership with Prince Sultan Mohammed bin Saudi Al Kabeer. It is controlled by HH Prince Sultan bin Mohammed bin Saudi Al Kabeer, who has investigated various production techniques, from traditional to modern, in order to meet the demands of the rapidly expanding markets in Saudi Arabia and the rest of the globe.

All of Almarai's products are manufactured, distributed, and marketed throughout the Middle East and the rest of the world by its subsidiaries. Its primary products include poultry, agricultural and horticultural products, bakery, dairy, and juice. The company utilizes Almarai as its own brand name for all the products it manufactures and distributes around the region.

The general financial crisis

The financial crisis is the result of inadequate company governance and mismatched executive compensation. Major financial institutions that conceal their trading techniques, financial instruments, and balance sheet positions contribute to the global financial crisis.

Weak standards governing the operation of all trading instruments and financial conglomerates pose an issue. Lack of adequate capital regulation and inappropriate implementation of accounting standards are significant contributors to banks' risk-taking. The rating agencies are not always supervised by the national regulator.

There is also mistrust among the financial market's major participants. This results in the collapse of temporary transactions in the financial industry, which would significantly impact market economies and exchange-traded securities worldwide. When interbank lending and the money markets are blocked, no capital will flow to other economic intermediaries in the production chain.

Government and monetary institutions should implement laws that regulate the performance of financial institutions in order to prevent future financial crises. Financial system confidence will be restored in the organization. Recapitalizing financial intermediaries should be accomplished by direct capital injections or mergers and acquisitions.

Active cooperation should be adopted in order to limit the incidence of cross-border contagion effects. The financial market will be able to address the financial crisis as quickly as possible in order to resume short-term lending. In addition to macroeconomic and microeconomic strategies, the negative impacts of the crisis will be reversed. In this scenario, central banks will be required to reduce their interest rates in order to stabilize declining prices.

Inspiration regarding the topic

Financial services are the most important determinants of the company's performance. It is the primary reason why corporations' names appear in financial services. This item provides a comprehensive analysis of the company's functions. In addition, it measures the economic performance of the entire world. As a result, it is inspiring to study because we will all benefit from it. Since we are all investors in some capacity, understanding how businesses run is vital. Being an investor will help us determine what to invest in and which companies to invest in. The arrangement is advantageous for the company, the investors, and the students. This topic provides us with additional possibilities for calculations and analysis. It illuminates us in a very unique way. The company under investigation catches the majority of my attention because it is the largest dairy and juice company in the world, with its primary market being the Middle East.

Almarai is a respected firm in the Middle East. It has played significant roles in assisting or contributing to society as a whole through employment opportunities, the provision of services, the establishment of social amenities, the educational sector where it has sponsored numerous needy students in addition to constructing schools, and participation in social activities such as organizing and sponsoring athletics in the region. This organization inspires me because I want to offer them advise based on their operations so that they may deliver the best products on the market and reap many rewards. Through its charitable program division, Almarai has participated in assisting less fortunate families. The company is ISO-certified across all of its departments.

Since its founding, Almarai Company has been able to surmount all obstacles it has faced. The significance of their financial base lies in the fact that it has allowed them to weather all of the economic storms that the world has endured.

Numerous reasons have led to this outcome. Its technology has allowed it to make high-quality foods and juices. This causes its items to be the most sought after on the market. Customer satisfaction is the key to success in Almarai Company's industry. The company's management is competent. This is evidenced by the company's current strategies and the policies created on a daily basis. This has assured that all personnel provide services that meet the expectations of the organization and its prized clients. The competent management has also ensured that the junior staff are competent, resulting in the production of high-quality goods. The production processes and formulations, particularly for the food and juice, are superior. No other company can compete with Almarai since its manufacturing method is unparalleled. This exclusivity makes the company's products the exclusive option for customers. In the food market, where tastes and preferences are the only route out, this is highly desirable. Therefore, the corporation must run in such a way that the tastes of its customers are unique (Lasher 206).

The company is the market leader worldwide, thus the issue is motivating for investigating the company's locations, functions, profitability, and stock market activities in the main stock exchange in the Middle East and among the three largest stock exchanges in the globe. It's commendable and difficult to continue with such a duty that requires extensive knowledge of the company's operations, especially given the computations required, which are excellent for mental development. The problem of financial crises impacts every individual and legal entity. Being one of them, I am also intrinsically motivated to investigate the company's financial ratios and their interpretation. This can be applied to personal life and the economic circumstances that surround us, as well as how we profit from well-established businesses such as Almarai Company.

It permits one to evaluate the company's performance in order to have an in-depth grasp of the company's future situation and adapt accordingly. Therefore, there is satisfaction in the appraisal of the company's financial status from a much broader viewpoint. Being informed is the primary responsibility, thus the drive obtained from the Almarai Company's international financial crisis is overpowering. This is the ideal issue to work on because I am able to profit and also learn more about what is going on in the local businesses.

Positive results of the economic crisis

The financial crisis had beneficial consequences on Almarai Company. According to scientists, there is no such thing as absolute truth, but given a financial crisis, the business will discover there is no such thing as a free market. Consequently, this indicates that truth is a relative concept. Freedom is another relative word; hence, the market freedom of a corporation is always relative. With the exception of the philosophical conflicts, Almarai has always sought methods for resolving financial crises, just as businesses across the globe. Almarai has endeavored, both individually and collectively, to overcome the global financial crisis so as to minimize the resulting losses.

Despite the global financial crisis, the financial crisis in Almarai has had some good repercussions. As this has been the primary cause of the crisis, one of the beneficial results is the decline of the market's ever-dominant business behemoths, which in turn revitalizes international relations. This will allow all other companies to start again at the same level and establish a new relationship with their clients by re-establishing their brand on the market.

Almarai Company will be able to build new relationships with consumers who are advantageous to its performance and increase its market share significantly. The Almarai Company will establish itself in these locations by acquiring a large number of customers, as a result of the increased number of enterprises that have failed owing to the financial crisis. For instance, Wall Street, which controlled global investments from all over the world, had a decline during the financial crisis; therefore, Almarai exploits the opportunity to pursue Wall Street investors who were avoiding it. This will result in an investment shift to the Almarai Company and other companies that have not been dominating the global market, thereby stabilizing the global financial system. This transition is crucial because it restructures the ties between nations or enterprises on the local and global levels.

Alterations will be made to the rules and regulations of the financial system market by global organizations such as the International Monetary Fund, the World Trade Organization, and the World Bank, among others. The laws that have been in effect since the end of the second world war were only applicable at the time, but now that there are new economic powers on the international level, they do not fit the globalization era of the world. As other companies struggled to survive, Almarai Company utilized its reserves, establishing itself as the most stable company in the region and the world (Mankiw 46).

The financial crisis will also result in the emergence of several new investment options, as the perception of the world's funds will shift to include other up-and-coming enterprises offering security and investment prospects. This will be in accordance with the WTO's reorganization of commercial sector relationships, which will increase country-specific specialized production. In this situation, Almarai will gain, as it is the major producer of its products in the Middle East and its surrounding regions, as well as on a global scale.

The other advantage is that the financial and banking systems are always highly controlled and watched by their regulatory agencies during financial crises. This involves regulating financial institutions, requiring transparency in their activities, and imposing global financial governance.

Finally, the financial crisis would result in the extinction of the large financial institutions that have historically dominated the world's stock markets. This will improve a new distribution system by allowing Almarai to dominate the worldwide financial and economic operations market. Almarai should examine its performance and service delivery in the midst of the current economic crisis. This will allow the organization to determine the finest manner to run or the most effective strategies to employ. Almarai Company has made numerous conclusions regarding this financial crisis and the losses suffered by other nations and businesses. This merely indicates that Almarai is utilizing the unfavorable situations of other companies to increase its market share, financial stability, and investor confidence.

The impacts of the financial crisis are negative.

The negative impacts of the financial crisis on Almarai Company exist and are under the company's control. The economic crisis will have a major impact on the food processing business in Almarai. First, the clients' purchasing power will decrease. This will result in the majority of its products not being purchased at the same rate or amount. People are always aware of changes in the financial market since they are also affected. Consumers of Almarai also contribute to the country's income generation, either through employment or their own companies. Consequently, when their sources of income are affected, so will be their expenditures.

Financial crisis has an impact on the liquidity of Almarai Company. Liquidity is the ease with which a corporation can purchase or sell an asset without affecting or changing the asset's price. Almarai Company is at the center of all the particulars, particularly on the stock market. Due to this financial issue, its shares are not actively traded on the market. It is difficult for the corporation to dispose of its assets when it desires to do so. This is due to the fact that the set price or saleable price of the asset would be considered high at this time, unless the company is ready to sell it for less.

The stock exchange's trading activity are also substantially disrupted. The corporation faces many obstacles in gaining the confidence of investors to purchase its stock. This is due to a fear of the unknown in case the stock markets collapse as a result of the negative repercussions of the financial crisis. The stock market is the most feared investment because it is so sensitive to slight changes in the financial landscape. The Almarai Company, the largest food and juice processor in the Middle East, is susceptible to financial difficulties. This will result in

Cost Cutting In Supply Chain Management Descriptive Essay Help

Introduction

Supply chain management is a cross-cultural management philosophy. This is consistent with regulating the flow of raw materials into the organization and the flow of finished goods from the organization to the end user. Numerous firms aim to emphasize competencies and become adaptable. This drastically reduces ownership of distribution systems and raw material sources.

In every organization, there is typically demand to reduce expenses in order to boost revenues. As human resource managers construct a cost-cutting strategy, it is crucial that the organization's commitment be brought into harmony. Before examining the extent to which cost effectiveness and commitment are compatible, one must have a comprehensive understanding of the effects of cost reduction within a company (Hilton, 2008). Cost reduction can be accomplished using the following methods:

Retrenchment

Reducing the number of personnel within the organization is one of them. In certain instances, human resource managers are required to lay off certain employees in order to save expenses. This necessitates multitasking on the part of the few remaining personnel. It is also possible to implement cost-effectiveness in a business by lowering employee bonuses and allowances. This involves deducting employees' medical allowances from their salary.

Technology

The other method through which human resource managers reduce costs in a firm is by implementing technology. This covers the organization's use of computers and the internet. In lieu of messengers, an organization incorporates the usage of email. This is really economical. Human resource managers also extend the working hours of their staff to boost productivity inside a firm. Enterprise Resource Planning (ERP) systems are the best illustration of the technology utilized by many firms to reduce costs in supply chain management. These systems are getting a foothold and are currently used by organizations in their management practices. ERP is a relatively recent concept in the field of innovation and technology. E, which represents for enterprise, suggests that software applications are used in the day-to-day operations of a business, R, which stands for resource, suggests that monetary and non-monetary resources are managed, and P, which stands for planning, suggests that a company must prepare for the future (Blacharski, 2008).

ERP is consequently a system that involves the uses of software that provides the organization with management abilities to manage their activities, such as human resource management in a business. This technology is built on databases that are readily accessible in real time. ERP systems give management with the ideal opportunity to generate the reliable, consistent, and timely data necessary for achieving organizational objectives (Gattorna, 2003).

ERP has a number of components that support management practices, the most noteworthy of which is modular integration, which enables the ERP system to execute operational duties as a whole or as a unit. This integration will generate greater returns and is regarded as client-centric and simple to manage. In addition, a universal and relational database facilitates the consolidation of data into a single unit. Such ERP capabilities enable numerous operations, such as querying structures, which increase productivity. ERP systems integrate the use of computers into the daily operations of an enterprise. Incorporating computers into the systems is important for the execution or installation of activities such as networking. ERP also employs server/client technology, which is linked to networking operations and enables consumers to request data, queries, and analyses from an organization's primary server. Thus, this technology interfaces with the web in an effort to achieve managerial objectives (Hilton, 2008).

ERP systems can be used by management to monitor and evaluate employee performance, among other organizational functions. This implies that the management does not need to physically supervise the staff, since they can communicate their desired directives to the workforce via ERP, which facilitates integration and networking. ERP systems can also be built to facilitate employee payroll tasks in an organization; for instance, the manual preparation of payrolls in the organization will be eliminated and replaced by a faster and more accurate ERP system.

ERP systems can also be utilized in the financial departments of firms, where they can replace manual tasks; for instance, traditional accounting will be replaced by ERP systems since it will combine computerized accounting ideas in the department. ERP systems are useful for planning and can therefore replace approaches such as Time Series analysis, which requires manual application in forecasting and modeling of a firm's future patterns; an ERP system can be built to forecast with less ease, thereby saving a company time and money (Blacharski, 2008).

However, ERP system, like any other technology, requires competent workers; those who will be operating must be equipped with the skills, knowledge, and qualifications that will allow them to operate the system effectively and efficiently; this means that firms must recruit competent and qualified personnel as well as conduct ongoing training and development processes to equip the workers on how to operate these ERP systems (Hilton, 2008).

Externalization of Internal Auditing

There are a variety of methods that human resource managers can take to execute cost reductions. This comprises contracting out a portion of the organization's operations that is not of a core nature. This technique is sometimes referred to as outsourcing internal audits. Over time, outsourcing has become a strategic requirement in all corporate sectors, and it can be done partially or completely.

Limited outsourcing

Less than 100 percent of an organization's internal audit services are sourced from external sources. External auditors provide fifty percent of these services for the majority of firms. Many organizations outsource a portion of their internal auditing. This concept is also known as co-sourcing. This truly necessitates striking a compromise between complete outsourcing and maintaining an internal workforce. In most circumstances, internal audits are under the responsibility of the internal team. The management decides to utilize external advisers so that internal auditors receive additional assistance. There is a formal relationship between the external auditors and the internal auditing team in this endeavor. In this instance, each participant brings experiences, abilities, and information that complement one another. This is typically done in many firms as a cost-cutting measure. It also assists many firms in enhancing their internal capabilities. It also has a significant impact on the organization's responsiveness and efficiency. This aids many firms in achieving operational effectiveness and efficiency, particularly in high-risk sectors of the business (Deavers, 1970).

Organizations are also aided in their compliance with established policies, industry best practices, processes, and regulatory requirements. This requires the application of the risk assessment process, which is crucial to internal auditing. This enables organizations to conduct self-evaluations. Some firms often subcontract, and in such cases, internal auditing is conducted for a brief period of time. (Hayes, 1999)

Complete Outsourcing

Here, one hundred percent of internal auditing is performed by professional experts. There are organizations that outsource internal auditing completely. This enables companies to concentrate on initiatives to enhance their competitive advantage. Frequently, organizations maintain a resource internally. This can be the internal auditor in charge. Typically, he is responsible for assessing the organizational and internal process requirements. This individual is responsible for communicating with the audit committee and management. He is also responsible for assigning the department's internal audit resources. When internal auditing is completely outsourced, it raises extra problems about how to handle it within an organization (Hilton, 2008).

When a business completely outsources a function, it is crucial that the supervisory responsibilities are not delegated to an external expert. It is always prudent to delegate this job to a member of the organization's senior management. The management team of a business must examine and identify the available internal audit resources and systems. (Hayes, 1999)

Considerations for Evaluating Alternatives to Outsourcing

Organization size

Outsourcing is not only for huge businesses, but also for smaller ones. Many small businesses are never able to hire full-time or permanent internal audit professionals. Therefore, they must investigate outsourcing. Many firms explore outsourcing due to a lack of specialized personnel and temporary staffing gaps.

Resources

This is one of the factors that must be examined before outsourcing is performed. There are times when internal audit resources are unavailable or in short supply due to a number of causes. Depending on available resources, it is possible to outsource internal auditors on a permanent or temporary basis. When firms are able to obtain competent internal audit professionals and professional internal audit services in a timely manner, outsourcing is essential (Deavers, 1970).

Internal Auditing Advantages of Outsourcing

Saves Costs

Internal auditing outsourcing has grown in popularity among several firms. This is because it provided accounting firms and corporations with enormous benefits. Internal auditing-aligned outsourcing solutions have shown to be extremely beneficial for a number of businesses. One of the advantages of these tactics is that they save money. Research indicates that outsourcing is significantly less expensive for this firm than training professionals to perform outsourcing. This is due to the fact that operational costs are drastically reduced in this scenario, particularly when an organization's personnel are not highly qualified in this subject. Numerous businesses have benefited from reduced internal audit expenditures. This is achieved by corporations gaining access to extensive expertise that would be costly to maintain internally. By duplicating audit efforts and jobs inside the organization, costs are decreased. This is achieved by substituting fixed costs with variable-cost-effective employees. This also allows businesses to balance workloads (Deavers, 1970)

Resource transfer

Another advantage of outsourcing internal auditing is that it permits the reallocation of organizational resources. Managers reallocate time as a resource to other crucial areas of the firm. Many firms' managers, for instance, can use the time saved by outsourcing to do strategic planning within the organization. This period is spent analyzing the organization's functioning critically.

Saves time

Additionally, outsourcing saves the firm a substantial amount of time. For example, it would take a considerable amount of time for human resource management to train employees so that they can conduct internal audits. When outsourcing is carried out in an organization, time is saved, and thus, other departments receive sufficient attention.

Minimizes corruption

Outsourcing internal auditing provides numerous benefits for businesses. This is due to the fact that it helps to reduce corruption within the firm. In the majority of organizations that do not outsource, corruption is typically endemic. This is due to the fact that personnel within the organization might really use lias to conduct unethical auditing of the accounting books. This gives opportunities for corruption to flourish within the institution. Internal auditing is typically performed by external professionals who have no direct ties to the organization's workers (Hayes, 1999)

Staff reduction

In many firms, outsourcing is a major contributor to employee reduction. According to research, it would be exceedingly costly for such firms to operate an internal professional staff to handle internal audits. Through outsourcing, many firms have been able to reduce their professional personnel by half. This means that less money is spent on personnel compensation. This is particularly pertinent for small businesses who cannot afford to pay professionals on a permanent basis and consequently outsource in part.

Enhancement of company efficiency

Outsourcing has enormous effects on the firm as a whole. Even the delivery of the services has become more efficient. This is due to the fact that external specialists have the necessary experience to examine corporate processes. They also provide management with crucial recommendations on how to run the business. This truly contributes to the efficiency of commercial operations. As internal employees of firms contact with external professionals, they acquire new capabilities, resulting in greater company effectiveness.

Conclusion

The expected effects of commitment and cost reduction on human resource management are reconcilable. This is the point at which appropriate actions are evaluated for implementing cost-cutting initiatives within the firm. Communication is a crucial component that must be considered while implementing cost reductions. The organization's numerous stakeholders, including customers, vendors, and workers, must be effectively communicated with. Even though the change is intended to reduce costs, it must be carried out with care. Human resource managers must understand that a company's success is not measured solely in monetary terms (Gattorna, 2003).

Reference:

What is Blacharski (2008)'s definition of ERP-Enterprise Resource Planning? Web.

Outsourcing a corporate competitiveness strategy; not a hunt for low wages; Journal of Labor Research 18:503–.

Gower handbook of supply chain management; Gower handbook of Logistics and distribution management; Aldershot; Gower; Gattorna, J. (2003).

Hayes, H. (1999). Agencies shift to outsourcing network management. Washington Technology 14:13, 32–6.

Managerial Accounting: Creating Value in a Dynamic Business Environment, 7th Edition, R. Hilton, McGraw Hill, New York, 2008.

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Accounting Fraud At WorldCom Descriptive Essay Help

Introduction

In 2001, WorldCom falsified their financial statements to indicate a profit of $1.4 billion, despite the company's actual loss (USAToday, 2003). Instead of subtracting some expenses from revenue, the corporation classed them as long-term investments. In addition to accounting fraud, other factors such as corporate culture, pressure on accountants to book and release accruals, and the CEO's ambition to make the company's stock number one on Wall Street all contributed to a significant fraud. This paper addresses a few of the related concerns.

Corporate Culture

The most significant feature of corporate culture that contributed to the accounting fraud at WorldCom was the mindset of organizational members at all levels to adhere to the idea of not challenging superiors and just carrying out orders. Employees believed they lacked an impartial forum for voicing their complaints with the company's rules and officials' conduct. Many of the employees were ignorant of the existence of an internal audit department, nor did they believe that it was a division with the authority to question the integrity of financial transactions. There were no concerns raised by the HR department regarding unusual compensation adjustments, bonuses, and other benefits given to a subset of employees, particularly those in the finance, accounting, and investor relations departments.

CEO's Ambition to Be the No. 1 Stock on Wall Street

CEO Sullivan believed that this was the only way to keep WorldCom's stock at the top of Wall Street's rankings. Therefore, the corporation has always prioritized revenue development in all of its endeavors. The CEO urged the managers to spend whatever was necessary to generate revenue for the company, even if the long-term costs of a project greatly outweighed the project's short-term advantages. To maintain the number one position of the stock, every action was taken with just revenue growth in mind. When industry conditions began to deteriorate in the year 2000 due to increased competition, industry overcapacity, and a decline in demand for telecommunications services as a result of the recession and the dot-com bubble, WorldCom found it difficult to maintain the most crucial performance indicator of line-cost expenditure to revenues. The corporation was unable to maintain the expenditure-to-revenue (E/R) ratio of 42% from the first quarter of 2000 in consecutive periods. Due to the downturn in business operations, the chief executive officer decided to employ accounting entries to achieve the desired performance and maintain the stock value.

Constraints on Accountants

WorldCom's accountants were under pressure to include $828 million in line accruals in the income statement. Although the accountants refused to do this on the grounds that it was not proper accounting procedure, their manager assured them that similar occurrences would not occur again. The accountants contemplated quitting their positions. However, CEO Sullivan persuaded them that he would be accountable for such decisions and urged them to remain with the company. While the accountants had doubts about these accounting procedures, they believed that the chief executive officer knew what he or she was doing. Next, the chief executive officer instructed the accountants to transfer $771 million from line costs to capital expenditures for the second quarter of 2001. Throughout 2001, it was necessary to make such entries to supplement the profits. In 2001, however, accountants incorrectly accounted for $818 million in expenditures as investments and discontinued the practice. In general, accountants would have fought such methods and exposed the CEO and executives who pressured them to engage in such improper accounting procedures, regardless of the employment or financial consequences. That would have saved the investors substantial sums of money.

Arguments for and against whistleblowing

If a person decides to disclose frauds or malpractices within an organization, he or she may have to face the repercussions of betraying the employees' trust. Second, there is a possibility that the whistleblower will become the wrongdoer's enemy (UniversityofLethbridge, 2003).

On the plus side, there is a distinct prospect of acting in the public interest to prevent unwarranted financial losses for countless individuals unwittingly trading in the shares of unethical firms.

The Accounting Profession's Reputation When Corporate Fraud Is Identified

When corporate fraud is exposed, it is only inevitable that the accounting profession's credibility will suffer in a significant way. Before criticizing accountants or the accounting profession, it is necessary to assess the conditions under which accountants were compelled to involve clients in accounting scams. This sort of accounting fraud is typically committed by a small number of greedy accountants, who are the black sheep of the profession. The profession as a whole cannot be assessed and stigmatized based on the actions of a few individuals.

References

LethbridgeUniversity (2003). Business Ethics – Chapter 1: Whistle Blowing. Online.

USAToday. (2003). Web site: Accounting Fraud

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