Nokia Company’s Transportation System English Essay Help Online

Table of Contents
Introduction Conclusion: Nokia's transportation system References

Introduction

Nokia's primary business is communications. According to Steinbock (2010), "the company is the leading manufacturer of mobile devices in the world, with a global presence and operations." As a result, the corporation must convey vast quantities of products from producers to suppliers and merchants. The company's past success in ensuring that its products reach the market on time can be ascribed to its well-established supply chain management and efficient inventory management. These two operations rely largely on a low-cost, high-capacity transportation network.

The Nokia transportation system

Nokia has dozens of warehouses on various locations across the globe. The company collaborates with other transportation industry companies, such as DHL, to assure on-time delivery of its products. Utilizing the numerous GS1 standards available is one method through which Nokia might improve its transportation operation. The organization will be able to follow its items wherever they are in the world. These technologies facilitate more efficient communication between the corporation, its warehouse managers, and its distributors.

Utilizing real-time dynamically optimized models is another method for enhancing a company's transportation procedure (Plant, 2007). Such models will enable Nokia to respond to changes in its supply chain in a manner that most of its previous transportation techniques could not. The management of Nokia's supply chain will be able to respond more quickly to issues and changes. Real-time optimized models will enable Nokia to place a greater emphasis on performance control. It will also permit the development of more complex and efficient reporting systems, enabling Nokia to follow and trace its transport activities. In supply chain management, it will be simpler to keep track of goods in transit and to have precise collection and delivery schedules.

Nokia's transport procedures are affected by payment methods. The corporation must pay for customs at several international borders, fuel, and team allowances. Nokia's capabilities will be enhanced by improved freight payment methods. In an era where greater capacities are required, Nokia must adopt more complex methods for handling incoming freight invoices to prevent delays. Better payment tools will ensure that order deliveries are not delayed and that freight clearance does not take too long. A modern payment capability will also enable automatic recording in Nokia's systems, facilitating the management of data and information.

Integration of fleet management skills is a further method via which Nokia may achieve transportation excellence. Transportation management solutions can provide Nokia with improved means of establishing backhaul strategies and opportunities. Modern fleet management solutions will provide Nokia with powerful assistance for integrating diverse means of transportation, such as maritime and rail, to help the company overcome the current cost and capacity difficulties. They will provide capabilities that ensure compliance, appropriate paperwork, and precise cost estimations.

Using route optimization and planning, Nokia can enhance its transport systems. Optimization will assist transport managers in various regions to establish everyday routes utilizing robust programs (Transportation Research Board, 2010). The outcome is improved resource utilization, with drivers delivering more while driving less. The corporation does not need to increase the number of cars on the road as product demand increases. Instead, existing transport management tools, such as optimization, can assist the company deliver a greater volume of goods at a lower cost. Transportation managers will be able to synchronize activities in multiple warehouses and guarantee that cars spend as little time as possible on the road thanks to route optimization.

Nokia must assess performance continuously in order to identify areas and functions that are failing. This can be accomplished through discussions with the transportation team or surveys of the warehouse and retail teams. The performance of a transportation system can be measured by the time required to deliver items, the money incurred, the safety of goods, the quality of goods when they reach their destinations, and the satisfaction of distributors with delivery.

Adopting innovative solutions, such as transportation management systems, is crucial if Nokia is to maximize the benefits of its transport processes. Transportation management system is one of the techniques utilized by numerous multinationals and large corporations to manage their supply chain. Its technologies will enable Nokia to manage critical transportation operations, including planning, decision-making, measurement, and transport monitoring. Its capabilities will assist Nokia in choosing transportation modes and carriers, tracking trucks in real time, controlling service quality, optimizing and planning transport timetables, modeling transportation costs, and batching shipping orders.

Conclusion

Nokia has a supply chain that connects its producers, suppliers, and customers. In order to serve customers worldwide, the company has established an extensive distribution chain. With a global presence, it requires an efficient inventory management system to ensure that customers receive their items and that distribution costs are kept to a minimum. The efficient transfer of items from one location to another is a component of an effective inventory system. The organization can improve its transportation system by embracing current solutions and technologies and by measuring performance to determine what works and what does not. Through such measures, Nokia will be able to produce products with more reliability and less effort.

References

Plant, J.F. (2007). Transportation policy and administration handbook. Taylor & Frances of Boca Raton

Steinbock, D. (2010). How Nokia builds a strategic advantage in a rapidly transforming global market. Jossey-Bass, San Francisco.

The Transport Research Board (2010). Measuring the performance of a transportation network. Transport Research Board, Washington, D.C.

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Vitamin Water: Egyptian Market English Essay Help Online

Introduction

Vitamin water is a hydrated beverage with a pleasant taste that contains important vitamins for a healthy body system. The bottled water has approximately fifteen tastes in addition to critical vitamins that are absent from tap water. The labels on the container reflect the quantity and quality of the contents, including the essential calorie count. The product is intended to aid in the conscious society's pursuit of a healthy lifestyle. This is because society has realized that a healthy lifestyle requires more than just hydration from beverages; it also requires a sensible attitude to beverage intake. On the bottles that they purchase, purchasers are free to view the nutritional information. On each bottle of vitamin water they purchase or intend to purchase, consumers are able to view the nutritional information. Vitamin water's philosophy is founded on its capacity to attract a large portion of modern consumers who are interested in items that support their healthy food and beverage consumption efforts, as a result of the more mobile lifestyle. Because of this, the product has been quite successful in the United States and Canada.

The outlook for the Egyptian beverage industry is bright, according to the forecast. Despite the global economic slowdown, the country's economy has improved dramatically in recent years. This is due to the stable political climate that led to the 2004 selection of a liberal cabinet. As the pro-investment cabinet has frequently stressed the government's commitment to market economy over the past few years, it is anticipated that economic growth would continue on an upward trajectory. With a population of over 79 million and a predicted yearly growth rate of 2%, Egypt is a promising market for our vitamin water (CIA 2). The consumption of beverages is expected to increase in the next years due to its widespread popularity.

Egypt is located in North Africa along the Mediterranean Sea's coast. In 2009, there were 79 million people living in Egypt's desert, which experiences hot, dry summers and mild winters. Arabic is the official language of Egypt, but English and French are primarily spoken by the educated elite class. 56% of Egyptians aged 15 and older can read and write, according to the country's official literacy rate (CIA 2).

The market success of vitamin water in the United States can be attributed to the increasing health consciousness of American society. Due to the increasing prevalence of a fast-paced lifestyle in global culture, people do not always consume adequate vitamins through their diet. Therefore, it is reasonable to assume that Vitamin Water is an excellent product to distribute and promote to this new market. I have selected Egypt as the target country for the introduction of this product for the following reasons: first, the product does not currently exist in this highly populated and promising nation. Second, there is currently no company that has introduced such a product, hence there is no established product rivalry. This is in contrast to the United States, where Aquafina alive, Propel water, and numerous other water-flavored businesses are major competitors. In addition, as previously indicated, the country has a vast population. This indicates that there is a wide variety of lifestyles. This product is primarily aimed towards individuals who are seeking healthier options and something new and exciting. This would have no age restrictions or limits.

Cultural Analysis

Brief background

Egypt has an extensive history dating back thousands of years. Extensive literature is an essential cultural component for the entire planet. Egyptian intellectuals were the first to write literature in the Arab world, and their books and films are shown in museums and universities around the globe for their academic and aesthetic significance. It is stated that Egypt has maintained a cohesive state and government for more than 5,000 years, and there is evidence that the country has existed for even older periods of time. Egypt is known in Arabic as Misr, which implies civilization (CIA 3). This word is a source of national pride because Egyptians and intellectuals think that their country was the cradle of early civilisation. This is supported by archeological discoveries that indicate primitive people lived along the River Nile before the Pharaohs came to power. Beginning approximately 6000 B.C., formal agricultural activity began (CIA 2).

By 3100 B.C., Egypt was ruled by Mena, who established the Pharaonic dynasty that still exists today. The pyramids were constructed during one of the dynasties, the fourth, and they demonstrate the Pharaohs' political and religious authority. The great pyramid is one of the Seven Wonders of the World, drawing travelers from all over the world to Egypt (CIA 3). This type of dynasty still loosely controls the state and religion to this day.

Demography and geography

Egypt has a land area of around 1,001,450 square kilometers, and its largest cities include Cairo and Alexandria. Cairo, the nation's capital, is home to approximately 16 million people. The area is mostly desert, with the exception of the Nile and delta regions. It has a dry climate for the majority of the year, with scorching summers and average winters, making it an attractive tourist destination.

After Nigeria, Egypt is the second most populated nation in Africa. Egypt has the largest population among Arab nations, with around 79 million people. The majority of these individuals are located in Cairo, Alexandria, along the Suez Canal, and the Delta region. The regions are among the most densely populated in the world, with an average of 1,550 inhabitants per square kilometer. This is an intriguing phenomena considering the country's average population density of 180 people per square kilometer.

Statistics and linguistics

The most widely spoken language is Arabic, which is also the official language. Moreover, the educated group is bilingual in English and French. The villages, which are distributed in a concentrated fashion along oases, ancient towns, and transportation corridors, are migrating to existing overpopulated cities. The relatively homogeneous population grows at 1.7% per year, with Egyptians, Nubians, and Arabs making up the ethncial groups.

Environmental Analysis

The Egyptian Constitution stipulates a strong and powerful executive with a centralized power base. This means that the President, who is elected by the people for a six-year term, has the only authority to nominate any cabinet member. In conclusion, although the legislative branch has 454 members, 444 are elected and 10 are appointed by the president. In addition, the constitution stipulates that half of the assembly members must be from disadvantaged groups. This assembly has a five-year duration, and the president cannot dissolve it before its expiration.

Although the opposition has the right to make their political beliefs public and has representatives around the country, the majority of power remains in the central government, which is led by a National Democratic Party president. The party of the president dominates the political scene, including the majority of institutions. NGO's and human rights organisations are subject to significant political restrictions and have limited freedom of speech. Organizational and professional groups are prohibited from engaging in political or human rights campaign activities. However, current events are altering the political climate, particularly following the 2005 revision to the constitution that for the first time in history let other candidates to challenge the incumbent president Mubarak. In 2005, however, President Mubarak enacted a number of constitutional amendments banning any religious, racial, and ethnically-based political organizations.

The Egyptian business community began to recognize the advantages of a free economic system in 2004, when the Egyptian parliament enacted a resolution to liberalize the corporate sector. This was precipitated by developments in international trade, which caused the country's stagnant economic structure to lag behind those of other nations. In the past five years, the government, through its cabinet economic team, has defined a new way of conducting business by streamlining the business process and reducing taxes and tariffs. In addition, the government's business dealings have become more transparent, particularly with regard to the annual national budget, the revitalization of formerly dormant public institutions, and, most importantly, the implementation of economic legislation designed to spur private sector development in response to global changes in the business environment. However, according to business experts, despite all of these advancements, the transformation of the economy is still hampered by the government's insistence on dominating some economic sectors, such as the food and beverage, housing, and energy sectors. Some also believe that a bloated public sector hinders rapid change due to the enormous salaries and compensation paid to civil officials. Moreover, the majority of key industrial sectors remain under the direction of the public sector.

As of September 2008, the Gross Domestic Product (GDP) amounted to $452,5 billion, with an anticipated increase of 4.7% in 2009. During the same year, the GDP per capita was $5,500, inflation was 13%, and only 14% of the population was living below the poverty line (Zawya 5). As of September 2008, the Gross Domestic Product (GDP) amounted to $452,5 billion, with an anticipated increase of 4.7% in 2009. In the same year, the GDP per capita was $5,500, inflation was 13%, and only 14% of the population lived below the poverty line. Being the largest and most populated Arab country, it has presented a crucial and significant marketing opportunity in the area, and the success of the vitamin product will be crucial for entry into other Arab countries (Zawya 6). The country is situated in the center of the Middle East, and its economy has regenerated into a more varied form than in the past.

As a significant exporter and producer of oil and natural gas, the nation has recognized the need to improve its infrastructure in order to expand its accessibility for corporate growth, particularly international investment. This is why the government is currently leading the development of an institutional framework to guide and promote public-private partnerships. The majority of the produced projects focus on the construction and maintenance of educational institutions, health centers, and waste water management stations.

Due to the global economic downturn, a major economic slowdown was anticipated. According to a forecast by the International Monetary Fund, the Egyptian economy was expected to decline by 5% between 2009 and 2010. (Zawya 6). Inflation was anticipated to range between 8 and 11% during this timeframe (Zawya 6). The good news is that the financial industry has been spared the fury of the global financial crisis. This has been attributed to the improvement in banking sector oversight, constrained lending practices, and central bank rules and precautionary benefits (Zawya 6).

Methodologically and conceptually, the nation's judicial system is based on the European, primarily French, system of legal administration. Under the current administration, the judicial system possesses a high degree of independence, with both the government and the business sector respecting court procedures and court process principles. However, topics such as marriage rules and family difficulties are governed by Sharia law as part of the institution of Islam. Egypt is a key member of NETO, the organization that oversees its foreign trade agreements. Egypt is a member of the World Trade Organization as well (WTO).

With greater literacy and technological acceptance by the populace, many companies are expanding their online business, particularly for consumer items. This is bolstered and amplified by the increasing number of busy citizens who would rather use a faster purchasing system, such as the internet, than physically purchase products and services. This occurrence is likely to stimulate our business activities, which would also highlight online buying and door-to-door delivery.

Marketing Analysis

It is general known that the fundamental premise of marketing is to know how to place a product in the correct place, at the right time, and at a price that is regarded fair or appropriate (Travis 34). This may appear to be an easy description, as all that is necessary is the creation of a product that a specific group of people want, the placement of that product on the market at a speed frequented by that group, and the setting of a price that allows them to purchase it. Ideally, this part of marketing has a large number of facts. However, it is necessary to determine what these clients desire in terms of product quality and quantity, placement, and pricing. This implies that all elements must be carefully examined, and that a failure in any one area can result in overall failure. In this procedure, we will utilize the 4Ps marketing mix theory (Product, Place (distribution), Price, and Promotion). This is because this instrument will assist us in determining what we need to implement based on the definition of market mix.

Product

As previously stated, Vitamin water has never been introduced in Egypt. In light of the rapid urbanization occurring in Egypt (almost all of the country's 79 million inhabitants reside in Cairo and Alexandria), it is wise to comprehend not only the immediate but also the long-term consequences of this way of life. This is anticipated to create a need to meet the requirements of the health-conscious urban population. Given the rising popularity of soft drinks and other liquids, this would be an ideal time to introduce vitamin water.

Arabic is the major language in Egypt, as well as the official language. In addition, the educated majority can speak and write both English and French. Our major product is manufactured in the English-speaking nations of Canada and the United States, and is consequently marketed in English, including the labeling and mineral composition of the vitamin water. This means that Arabic language will be used on the labels of bottled water to make it easier for local consumers to understand and interpret the information. In fact, the core and power of our product is predicated on the notion that its vitamins are superior substitutes for those found in conventional cuisine. Consequently, we will need to pay close attention to the demand for language interpretation. Generally speaking, both English and Arabic would be employed to serve the entire population, including tourists. It is essential to emphasize that, apart from language and labeling, the product content consists solely of the product itself.

Human Resource Functions & Organisation Development English Essay Help Online

Introduction

A successful supply chain management depends not only on technology, but also on the course of action. Supply chain development schemes are frequently treated as "technology" schemes as opposed to enterprise projects. The complexity of the supply chain varies based on the size of the firm and the number of products manufactured. A supply chain begins and ends with consumers. Consumers, the planning, purchasing, inventory, building, and transportation departments that surround a company are aspects of a supply chain. The supply chain should be well-planned and equipped. A flawless supply chain requires the application of scientific and technology investments, such as enterprise resource planning suites. "Supply chain management is often positioned between fully vertically integrated organizations, in which the entire material flow is owned by a single company, and firms in which each channel member operates independently. Coordination between the various chain participants is crucial for its proper administration" (Ganeshan & Harrison 1995). The study examines the trends of technology in SCM development in the present day, the elements of technology's impact on the logistic system as it relates to supply chain management in TCF industries, the impact of technology errors on supply chain management, and various recommendations for correcting the same.

Current technological trends in SCM development

Supply chain management is the dynamic supervision of supply chain actions in order to maximize client standards and achieve competitive advantages. The supply chain will indicate how the goods will reach the consumers. The concept of supply chain management is predicated primarily on two factors. Each product that reaches the customer's destination is the result of a concentrated effort by the company that manufactured it and its marketing efforts. These linkages are referred to collectively as supply chains. A second argument is that, as supply chain systems have endured for an extended length of time, practically all company entities pay scant attention to events that occur within their business walls. Few businesspeople have the credibility to realize the significance of customers. If they fail to recognize this value, there will be a conflict between the supply chain systems. It represents a concerted effort by supply chain administrations to develop and broaden supply networks in the most effective and well-organized manner possible. Supply chain behavior encompasses everything from product development to advertising, as well as the information structure required to coordinate these activities.

There are a number of current trends in supply chain management. All of these will contribute most effectively to the customer and company's commercial interactions.

Analysis

The associations that constitute the supply chain are interconnected by large information flows. Conversion, development, and adequate storage space for commodities and resources are the most essential components of an effective supply chain system, and the most observable aspect of supply chain management. Supply chain management requires immediate improvements to the administrative structure.

The supply chain management trends include increased competition and globalization of transactions. The rate of change in the marketplace, goods, and machinery is accelerating, creating conditions in which executives must make decisions in less time and with less resources. New competitors are entering a market that is traditionally maintained and dominated by regional businesses. Customers also demand the quickest possible delivery of products, and the products and services must be tailored to their well-being.

Trends in supply chain management for the international and Australian markets

Many managers are confused about what globalization truly entails due to the present trend toward the internationalization of supply chains. Frequently, the phrase is little more than a semantic battleground, providing little benefit to the person responsible with managing value creation and cost reduction procedures in the transportation of products. Clearly, globalization implies the transnational movement of commodities and the rise of global competitors and opportunities across competing supply chains within an industry (Mentzer et al. 2006, p.2).

In a country's supply chain management, there will be cross-border obstacles, but the government must find global solutions to distribution chain issues. In addition to globalization, other emerging trends in supply chain management include an increase in cross-border resources and a mutual reworking of inventory for organizational purposes. There will be a collaborative effort for various supply chain series with low-priced merchants. There is a current trend among multinational teams to organize between themselves and to construct important international functions. This tendency is increasing the worldwide team's knowledge of the importance of achieving the business's full potential. In this supply chain, the challenges related with numerous companies are in an upward manner.

The Australian market is striving to establish effective supply chain systems and looks forward to maintaining supply chain management in a manner that will allow it to target global company and reach the top of the global market. The US recession has had a negative impact on the Australian economy, which has weakened it during the economic period. They are attempting to create a flexible supply chain environment. This point of elasticity cannot be attained without the management of global distribution systems. In contrast to its origins in logistics, the SCM has attained a distinguished reputation.

Recommendations and summary

These advances in SCM will provide a number of advantages for businesspeople, including larger assortment sizes, lower taxes, and an improved cultural and communications environment for manufactured goods. As a result of the globalization of the supply chain management system, numerous issues may arise. It is composed of a distribution chain comprising larger components. There are other issues to consider, such as several currencies, differing policies, and particular regulations. "A supply chain software can be of immense value to any business that relies on the seamless planning and execution of related operations to achieve long-term profitability and maintain a solid competitive edge" (Benefit of supply chain management, 2010).

Technology integration in SCM

Several technologies have been integrated into the supply chain management systems across the frontiers of management and design. Further classifications include strategic, tactical, and functional systems. This technology and these talents provide global supply chain management with more opportunities for success. Before the Internet, businesses were unable to receive or deliver timely updates, comments, or other crucial information. In addition, organizations' capacity to collaborate with international partners was hindered by language difficulties and time zone disparities. Using the Internet to manage the majority of the elements involved in supply change management, such as procurement and communication, speeds up data transmission and the operation of the supply chain (Supply chain technology, 2010).

As it will diminish their strength, there will be resistance from both vendors and employees to incorporating technologies into supply chain management.

Components of technology and their influence on the supply chain management system in TCF sectors

The basic notion of the supply chain is the combination of the numerous external and internal operations and tasks of the supply chain within the firm. There have been numerous economic developments in supply chain management on the market. Rather than the production process and product quality, the success of a product on the market rests on the efficiency of the supply chain. In the current economic market environment, the correct method of client outreach is a significant obstacle to overcome.

Analysis

The logistics management system is the process of utilizing the systems to accomplish various shipment-related management activities, with the host computer serving as a crucial interface. The logistic management system is the system that manages the logistical tasks involved in the shipment process. Logistics is one of the most important activities in the current market environment, and the costs incurred by the various firms are in the billions of dollars, contributing significantly to their GDP growth. The logistics system is designed to facilitate the integration of various domestic transportation facilities. The warehouse and distribution channels for the production of a product are included in the logistics operations. The supply chain is a collection of numerous logistical systems, including the collection of raw materials and items that are necessary for the production of the final product and distribution to the ultimate consumers. "In make-to-assembly (MTA) systems, for instance, components and semi-finished products are made in a push-based way, whereas the final assembly step is pull-based. Therefore, the inventory of work-in-progress at the conclusion of the first stage is used to construct the finished product as demand dictates. These components are then assembled upon receipt of customer orders" (Ghiani et al. 2004, p.5).

Technologies has a significant impact on supply chain management; supply chain management in the market depends on market trends and the latest technology. The history of the supply chain demonstrates that the vast majority of outmoded technologies remain untouched by the market. "Supply chains encompass the full manufacturing and distribution operations of a corporation. They encompass the entire production process, from planning to manufacture through the treatment of defective goods. The purpose of these chains is to keep the process going smoothly at all times and to keep all the components (such as suppliers, warehouses, etc.) connected." (2010). Supply chain technology.

Today's supply chain management technologies include customer relationship management, customer service management, demand management and control, market flow management, supplier relationship management, product commercialization, and return management. In addition, the client has a robust method for utilizing the software services ERP software and e-commerce software for operations.

ERP software is enterprise resource planning software that integrates the many functions of a business, such as planning, procurement, organizing, and resource management, with minimal expenditures. "The primary purpose of an ERP system is to combine information and processes from all functional divisions of an organization for easy access and structured workflow." Typically, integration is achieved by establishing a single database repository that communicates with many software programs that provide diverse business statistics and information to different divisions of an organization (ERP, 2010).

The ERP is the primary functional unit and technology that governs the organization's processes. Technology for resource planning is indispensable to supply chain management. This mostly unifies the diverse types of business processes within an organization into a single entity.

E-commerce is a crucial technology that typically makes business operations faster and simpler. E-commerce is electronic commerce in which activities are significantly simplified. B2C and B2B are the two key e-commerce ideas in the market. B2B refers to the coordination and delivery of materials and products between businesses. B2C is the business and the provision of goods or services to consumers.

Both business-to-consumer and business-to-business interactions are crucial at various phases of operations. "A casualty of the dot-com crisis was the phrase "C-Commerce," which stood for Collaborative Commerce — a vision of the future in which customers and suppliers would work online smoothly. With collaborative technologies such as wikis dominating other areas of cyberspace now, the buyer-supplier collaboration envisioned previously is certainly ready for prime time" (Dominick 2006).

The other technological instruments contribute significantly to the system's growth and operations. Customer relationship management is the primary tool that aids in maintaining the relationship between customers, obtaining customized products from them, and maintaining cordial relationships with clients. Customer service management aids in understanding how services become effective to customers and how they can contribute to the organization's profitability and reputation. Demand flow management, which helps to better understanding of demand variables, is also addressed by this technology. This facilitates the commercialization of the product for sales and the acquisition of the product based on client preferences and tastes.

Conclusions and recommendations

The organization's technology should be upgraded every quarter. The technology and the resources should receive continuous support. The alternative should be identified at each step of technological advancement. Employees in the organization should be informed about technological advancements and emerging trends.

The analysis and debates on supply chain management and the many aspects that contribute to it demonstrate their significance and the various benefits that a business may get by implementing it. The importance of supply chain management technology updates to the organization's operations cannot be overstated.

The influence of technological errors on supply chain management

Supply chain management is a challenging endeavor. It increases the organization's total productivity if they are handled and controlled accurately. If technological errors occurred during the deployment of the supply chain, it will negatively impact the company's total profitability. The significance of supply chain management has increased during the previous decade. The SCM broadens the consideration of functional incorporation, which is outside the scope of all supply chain management companies. Individual individuals inside the business contribute to the enhancement of the supply chain's competitiveness, hence enhancing their own competitiveness. Moreover, this proactive strategic approach to supply chain management is essential for the company's existence.

Analysis

Typically, a company's competitive advantage comes when it is able to provide identically high-quality goods and services at a lower price than its rivals in the same industry. Each business will have its unique competitive advantage. This supports the company in creating higher-quality value for its clients, competitors, and society. SCM is the model that is transforming business and business relationships. It reaffirms the notion that a company's product pipeline expands from the seller through delivery to the customer. "Six factors must be considered in order to optimize supply chain management. These items

International sourcing and sales expertise Vendor penetration Tailored versus standard practices accounting silos Organization silos” (Craig 2010).

Client response, quick feedback, shared planning, supportive actions that are united by way of the united forecasting and development, allocation of a variety of data, and mutual inventory are widely utilized SCM features in the present day.

Human Resource Functions & Organisation Development English Essay Help Online

Table of Contents
Introduction Product or service concept creation Market analysis Implementation plan Financial preparation References

Introduction

A business plan is an official document that describes organizational objectives, the tactics to be employed in reaching these objectives, and the reasons why the business feels it will achieve these objectives (Deboer 1998). The success of each business venture depends on the operator's ability to develop a workable business plan (Abrams & Kleiner 2003). By adhering to the developed business plan, one can work towards achieving the business's goals. There are a variety of components that must be addressed in a company strategy for good management. No firm can be founded in the absence of an operator's insight into an unmet demand in a particular market segment. This concept leads to the creation of a product or service to satisfy the recognized need. Other components of a business strategy include a market and competitor study, a schedule for implementation, and a financial analysis. Each factor plays a crucial part in ensuring the establishment of a successful firm. This paper will analyze critically each of the identified business plan parts.

Product or service concept creation

Essentially, a business idea arises when a person perceives an opportunity in the production or sale of a particular product or service (Barrow, Barrow & Brown 2005). Despite the fact that entrepreneurs generate viable company concepts, the majority of them fail to profit from them because they miss crucial parts of the product or service to be developed (Barrow, Barrow & Brown 2005). They do not assure that their product or service is distinct from that of their competitors. Typically, business owners develop new products or services after observing the success of competitors selling similar items. They fail to consider the product or service's stage of development and foresee any potential modifications in the future. Shortly thereafter, their products or services become outmoded, preventing them from profiting from their endeavors. It makes no sense for an entrepreneur to create a product or service that faces intense market competition unless he or she is certain of how to position it (Bianchi, Winch & Grey 1998). In addition, the product or service must be accompanied by a description of how it facilitates consumer demands fulfillment in comparison to existing products or services.

Bannatyne argues, according to Woods (1 October 2010), that products and services are crucial to the growth of any organization. Without better goods or services, a company cannot successfully meet client requirements. Such a business may eventually fail or experience a sluggish development rate (p. 5). McDonald Company is an excellent example of a company that has undergone quick expansion thanks to its products. The organization emphasizes the importance of producing great items and providing excellent customer service. As a result, customers are familiar with the company's operating procedures and always know what to expect when entering outlets controlled by the company (Vijayarani para. 5).

A company strategy must incorporate all applicable legislation and legal requirements. Frequently, business owners are forced to close their doors because they failed to comply with all applicable regulations. Before dealing in any product or service, it is essential to get a comprehensive understanding of client wants and to determine the target market (Deboer 1998). This will assist operators in developing a product or service that effectively meets these needs, hence enhancing his ability to compete for market share.

Market analysis

The market analysis is a vital component of the company plan. It requires providing precise information about the size of the target market (Chen, Yao & Kotha 2009). A company can only achieve success if its target market continues to grow. It is essential to develop an estimate of the market size, a projection of total sales, and an estimate of unit sales. However, when developing these estimates, business owners must utilize accurate data. An overestimation of the company's unit sales may cause it to have excess inventory, hence raising its operational expenses in terms of inventory management (Deboer 1998). It is necessary to identify internal and external elements that are likely to impact business performance. These include technological advances, government laws and efforts (Deboer 1998). Despite discovering business prospects, business owners fail to successfully utilize the prospective market due to the neglect of these elements. To make an informed decision on the target market, it is essential for the business owner to undertake a comprehensive market analysis. The failure to undertake a market pilot test results in entrepreneurs making assumptions about the target market. Eventually, individuals grow dissatisfied with the market since what they receive is very different from their expectations.

When developing a company plan, it is crucial to evaluate competitors' strengths and shortcomings. Various factors can be used to evaluate rivals. Among these include evaluating their product positioning tactics, determining their market share, and defining their distribution routes (Graves 2009). Failure to examine some of these factors results in new business owners employing the same operational processes as their competitors. It becomes difficult for them to successfully compete in the market. Having accurate knowledge about one's competition would enable an entrepreneur to develop a compelling value proposition, so drawing customers to his or her location.

McDonald Company was able to separate its many target clients based on their requirements and preferences by doing a market analysis. Additionally, the organization has discovered the strengths and shortcomings of its competitors, capitalizing on the latter. Currently, the corporation is incorporating technology into its operations using its substantial financial resources. The organization ensures that all of its employees possess the necessary skills based on unmet market demands (Vijayarani para. 7).

In order to construct a competitive business, entrepreneurs must have a solid product positioning plan. This can only be accomplished if they accurately understand the needs of their target market. Additionally, they must segment their target market based on the varying needs of its members (Howell 1999). This can aid operators in producing products and services that satisfy the needs of specific market segments most effectively. In his book Market Management, Kotler argues that a business plan should provide detailed information regarding the company's product positioning strategy. The product or service should be positioned according to its benefits, location, price, and quality (p. 235). He believes that an organization's ability to position its products or services, so enhancing its competitive edge, may be achieved through a business strategy.

In addition, business owners must have significant product and service uniqueness in order to distinguish themselves from competitors (Wyckham & Wedley 1990). Business owners must recognize that a persuasive stance cannot be established immediately. Instead, they must frequently analyze their operations and make the required adjustments to have the greatest benefit (Wyckham & Wedley 1990).

Implementation plan

For investors to support one's company ideas and decide to fund it, they want to know how one anticipates the expansion of his or her business (Lavinsky 2010). There are those that aim to accomplish business objectives as soon as the business begins operations. These business owners formulate an overly optimistic business plan. The plan fails to examine the interdependencies of the many business activities that would aid in achieving business objectives (Lavinsky 2010). This causes potential investors to lack confidence in the business's viability, causing them to decline funding.

When developing a business plan, it is essential to avoid creating a complicated working environment (McKeever 2005). A complicated work environment makes it difficult to formulate precise job descriptions. In the end, it becomes difficult for the firm to find qualified individuals to serve in various positions. In times of high unemployment, it is essential to recognize that it is difficult for organizations to find skilled staff.

Various considerations must be taken into account in order to develop an effective implementation strategy. It is essential to identify some of the enterprise's most critical goals and the timeframe for attaining them (McKeever 2005). This will assist the planner prioritize the necessary tactics for achieving these objectives. It is also essential to ensure that interconnected objectives and activities have been recognized. This will aid in the development of an implementation plan that closely links these actions and objectives, hence avoiding the possibility of implementation bottlenecks (Siegel, Ford & Bornstein 1993). Additionally, the implementation plan must classify company investments according to their period of attainment. This is to ensure that one allocates business resources to the various investment initiatives based on the required timeframe for their realization.

Berger King is a fantastic illustration of how implementation plans have helped a corporation reach its goals. Since the company's start, management has endeavored to conquer the international market by establishing several branches around the world. The organization devised a workable strategy for choosing the ideal franchisees to partner with (Reiter 1996).

Financial preparation

Prior to launching a business, the primary purpose of developing a financial strategy is to determine whether the investment will be lucrative (Smith 2006). At this moment, one forecasts the cash flow of the business, establishes a profit and loss forecast, and also generates a balance sheet projection. Despite the fact that the majority of potential investors use the predictions of a company's balance sheet to determine its future growth and, consequently, whether or not to support it, it is crucial that the business plan include realistic projections. Occasionally, one may underestimate the business's expenses while overestimating its income (Smith 2006). This may confuse investors and business owners about the growth of the business, resulting in the establishment of a non-productive enterprise. Before constructing a balance sheet projection for a business, it is essential to review the whole business plan. One must assess all the assumptions made in the business plan in order to obtain a comprehensive picture of the cash flow of the organization.

Effective financial planning enables a business to eliminate some of the unneeded expenses incurred during routine business operations (Reiter 1996). In addition, the strategy ensures that a business has sufficient capital before it begins operations. By developing an accurate financial strategy, Barger King was able to enter worldwide markets. Prior to communicating with several franchisees, the corporation assured that it had all necessary money (Reiter 1996).

References

Abrams, R. & Kleiner, E., 2003. The successful business plan: techniques and secrets. Palo Alto, California: TM The Planning Shop.

Barrow, C., P. Barrow, and R. Brown (2005) published the fifth version of The business plan workbook. London: Kogan Page.

1998. Bianchi, C., G. Winch, and C. Grey. A business simulation approach to the business plan as an educational tool for small and medium-sized organizations. Web-based International System Dynamics Conference

Chen, X. P., Yao, X. & Kotha, S., 2009. A persuasion analysis of venture capitalists' funding choice based on entrepreneur zeal and business plan presentation preparation. The Academy of Management Journal, volume 52, number 1, pages 199-214.

The business-plan approach to introductory microeconomics, Deboer, D. R., 1998. Journal of Economic Education, volume 29, number 1, pages 54-64.

Graves, T., 2009. Elements of an enterprise plan.

G. Howell, 1999. Three steps to an efficient business strategy comprise the business planning procedure.

Kotler, P. (2007). Marketing Management. Prentice Hall, London.

Lavinsky, D., 2010. Important elements of a business plan: Part 1.

2005 edition of How to write a business plan by M. P. McKeever. Manhattan: McGraw-Hill

Making quick food: From the frying pan to the fryer (Reiter, E., 1996). (2nd ed). McGill-University Queen's Press, New York.

Siegel, E. S., Ford, B. R. & Bornstein, J. F., 1993. The Ernst & Young Guide to Business Plans. John Wiley & Sons, New York.

J. Smith, 2006. There are ten crucial components of a small company plan.

Vijayarani, N., 2009. McDonalds business study.

Enter the dragon: interview with Duncan Bannatyn, D. Woods, 2010. HR Magazine, 2010.

Wyckham, R. G. & Wedley, W. C., 1990. Considerations associated with venture feasibility studies and business plan development. Journal of Small Business Management, Volume 28, Issue 2, Pages 32-41.

[supanova question]

Human Resource Functions & Organisation Development English Essay Help Online

Table of Contents
Introduction Product or service concept creation Market analysis Implementation plan Financial preparation References

Introduction

A business plan is an official document that describes organizational objectives, the tactics to be employed in reaching these objectives, and the reasons why the business feels it will achieve these objectives (Deboer 1998). The success of each business venture depends on the operator's ability to develop a workable business plan (Abrams & Kleiner 2003). By adhering to the developed business plan, one can work towards achieving the business's goals. There are a variety of components that must be addressed in a company strategy for good management. No firm can be founded in the absence of an operator's insight into an unmet demand in a particular market segment. This concept leads to the creation of a product or service to satisfy the recognized need. Other components of a business strategy include a market and competitor study, a schedule for implementation, and a financial analysis. Each factor plays a crucial part in ensuring the establishment of a successful firm. This paper will analyze critically each of the identified business plan parts.

Product or service concept creation

Essentially, a business idea arises when a person perceives an opportunity in the production or sale of a particular product or service (Barrow, Barrow & Brown 2005). Despite the fact that entrepreneurs generate viable company concepts, the majority of them fail to profit from them because they miss crucial parts of the product or service to be developed (Barrow, Barrow & Brown 2005). They do not assure that their product or service is distinct from that of their competitors. Typically, business owners develop new products or services after observing the success of competitors selling similar items. They fail to consider the product or service's stage of development and foresee any potential modifications in the future. Shortly thereafter, their products or services become outmoded, preventing them from profiting from their endeavors. It makes no sense for an entrepreneur to create a product or service that faces intense market competition unless he or she is certain of how to position it (Bianchi, Winch & Grey 1998). In addition, the product or service must be accompanied by a description of how it facilitates consumer demands fulfillment in comparison to existing products or services.

Bannatyne argues, according to Woods (1 October 2010), that products and services are crucial to the growth of any organization. Without better goods or services, a company cannot successfully meet client requirements. Such a business may eventually fail or experience a sluggish development rate (p. 5). McDonald Company is an excellent example of a company that has undergone quick expansion thanks to its products. The organization emphasizes the importance of producing great items and providing excellent customer service. As a result, customers are familiar with the company's operating procedures and always know what to expect when entering outlets controlled by the company (Vijayarani para. 5).

A company strategy must incorporate all applicable legislation and legal requirements. Frequently, business owners are forced to close their doors because they failed to comply with all applicable regulations. Before dealing in any product or service, it is essential to get a comprehensive understanding of client wants and to determine the target market (Deboer 1998). This will assist operators in developing a product or service that effectively meets these needs, hence enhancing his ability to compete for market share.

Market analysis

The market analysis is a vital component of the company plan. It requires providing precise information about the size of the target market (Chen, Yao & Kotha 2009). A company can only achieve success if its target market continues to grow. It is essential to develop an estimate of the market size, a projection of total sales, and an estimate of unit sales. However, when developing these estimates, business owners must utilize accurate data. An overestimation of the company's unit sales may cause it to have excess inventory, hence raising its operational expenses in terms of inventory management (Deboer 1998). It is necessary to identify internal and external elements that are likely to impact business performance. These include technological advances, government laws and efforts (Deboer 1998). Despite discovering business prospects, business owners fail to successfully utilize the prospective market due to the neglect of these elements. To make an informed decision on the target market, it is essential for the business owner to undertake a comprehensive market analysis. The failure to undertake a market pilot test results in entrepreneurs making assumptions about the target market. Eventually, individuals grow dissatisfied with the market since what they receive is very different from their expectations.

When developing a company plan, it is crucial to evaluate competitors' strengths and shortcomings. Various factors can be used to evaluate rivals. Among these include evaluating their product positioning tactics, determining their market share, and defining their distribution routes (Graves 2009). Failure to examine some of these factors results in new business owners employing the same operational processes as their competitors. It becomes difficult for them to successfully compete in the market. Having accurate knowledge about one's competition would enable an entrepreneur to develop a compelling value proposition, so drawing customers to his or her location.

McDonald Company was able to separate its many target clients based on their requirements and preferences by doing a market analysis. Additionally, the organization has discovered the strengths and shortcomings of its competitors, capitalizing on the latter. Currently, the corporation is incorporating technology into its operations using its substantial financial resources. The organization ensures that all of its employees possess the necessary skills based on unmet market demands (Vijayarani para. 7).

In order to construct a competitive business, entrepreneurs must have a solid product positioning plan. This can only be accomplished if they accurately understand the needs of their target market. Additionally, they must segment their target market based on the varying needs of its members (Howell 1999). This can aid operators in producing products and services that satisfy the needs of specific market segments most effectively. In his book Market Management, Kotler argues that a business plan should provide detailed information regarding the company's product positioning strategy. The product or service should be positioned according to its benefits, location, price, and quality (p. 235). He believes that an organization's ability to position its products or services, so enhancing its competitive edge, may be achieved through a business strategy.

In addition, business owners must have significant product and service uniqueness in order to distinguish themselves from competitors (Wyckham & Wedley 1990). Business owners must recognize that a persuasive stance cannot be established immediately. Instead, they must frequently analyze their operations and make the required adjustments to have the greatest benefit (Wyckham & Wedley 1990).

Implementation plan

For investors to support one's company ideas and decide to fund it, they want to know how one anticipates the expansion of his or her business (Lavinsky 2010). There are those that aim to accomplish business objectives as soon as the business begins operations. These business owners formulate an overly optimistic business plan. The plan fails to examine the interdependencies of the many business activities that would aid in achieving business objectives (Lavinsky 2010). This causes potential investors to lack confidence in the business's viability, causing them to decline funding.

When developing a business plan, it is essential to avoid creating a complicated working environment (McKeever 2005). A complicated work environment makes it difficult to formulate precise job descriptions. In the end, it becomes difficult for the firm to find qualified individuals to serve in various positions. In times of high unemployment, it is essential to recognize that it is difficult for organizations to find skilled staff.

Various considerations must be taken into account in order to develop an effective implementation strategy. It is essential to identify some of the enterprise's most critical goals and the timeframe for attaining them (McKeever 2005). This will assist the planner prioritize the necessary tactics for achieving these objectives. It is also essential to ensure that interconnected objectives and activities have been recognized. This will aid in the development of an implementation plan that closely links these actions and objectives, hence avoiding the possibility of implementation bottlenecks (Siegel, Ford & Bornstein 1993). Additionally, the implementation plan must classify company investments according to their period of attainment. This is to ensure that one allocates business resources to the various investment initiatives based on the required timeframe for their realization.

Berger King is a fantastic illustration of how implementation plans have helped a corporation reach its goals. Since the company's start, management has endeavored to conquer the international market by establishing several branches around the world. The organization devised a workable strategy for choosing the ideal franchisees to partner with (Reiter 1996).

Financial preparation

Prior to launching a business, the primary purpose of developing a financial strategy is to determine whether the investment will be lucrative (Smith 2006). At this moment, one forecasts the cash flow of the business, establishes a profit and loss forecast, and also generates a balance sheet projection. Despite the fact that the majority of potential investors use the predictions of a company's balance sheet to determine its future growth and, consequently, whether or not to support it, it is crucial that the business plan include realistic projections. Occasionally, one may underestimate the business's expenses while overestimating its income (Smith 2006). This may confuse investors and business owners about the growth of the business, resulting in the establishment of a non-productive enterprise. Before constructing a balance sheet projection for a business, it is essential to review the whole business plan. One must assess all the assumptions made in the business plan in order to obtain a comprehensive picture of the cash flow of the organization.

Effective financial planning enables a business to eliminate some of the unneeded expenses incurred during routine business operations (Reiter 1996). In addition, the strategy ensures that a business has sufficient capital before it begins operations. By developing an accurate financial strategy, Barger King was able to enter worldwide markets. Prior to communicating with several franchisees, the corporation assured that it had all necessary money (Reiter 1996).

References

Abrams, R. & Kleiner, E., 2003. The successful business plan: techniques and secrets. Palo Alto, California: TM The Planning Shop.

Barrow, C., P. Barrow, and R. Brown (2005) published the fifth version of The business plan workbook. London: Kogan Page.

1998. Bianchi, C., G. Winch, and C. Grey. A business simulation approach to the business plan as an educational tool for small and medium-sized organizations. Web-based International System Dynamics Conference

Chen, X. P., Yao, X. & Kotha, S., 2009. A persuasion analysis of venture capitalists' funding choice based on entrepreneur zeal and business plan presentation preparation. The Academy of Management Journal, volume 52, number 1, pages 199-214.

The business-plan approach to introductory microeconomics, Deboer, D. R., 1998. Journal of Economic Education, volume 29, number 1, pages 54-64.

Graves, T., 2009. Elements of an enterprise plan.

G. Howell, 1999. Three steps to an efficient business strategy comprise the business planning procedure.

Kotler, P. (2007). Marketing Management. Prentice Hall, London.

Lavinsky, D., 2010. Important elements of a business plan: Part 1.

2005 edition of How to write a business plan by M. P. McKeever. Manhattan: McGraw-Hill

Making quick food: From the frying pan to the fryer (Reiter, E., 1996). (2nd ed). McGill-University Queen's Press, New York.

Siegel, E. S., Ford, B. R. & Bornstein, J. F., 1993. The Ernst & Young Guide to Business Plans. John Wiley & Sons, New York.

J. Smith, 2006. There are ten crucial components of a small company plan.

Vijayarani, N., 2009. McDonalds business study.

Enter the dragon: interview with Duncan Bannatyn, D. Woods, 2010. HR Magazine, 2010.

Wyckham, R. G. & Wedley, W. C., 1990. Considerations associated with venture feasibility studies and business plan development. Journal of Small Business Management, Volume 28, Issue 2, Pages 32-41.

[supanova question]

British Petroleum: Strategic Analysis English Essay Help Online

Introduction

The oil and gas business is among the most competitive industries. Players are focused on making changes to maintain their market positions. Although the majority of oil companies have reported profits, the industry has gotten more complex. The price of crude oil has hit an all-time high, and the demand for oil products continues to soar. These two factors create possibilities and threats for oil companies to flourish or stagnate, respectively. Additionally, politics and environmental concerns continue to impact industry performance.

Oil companies apply universal tactics to achieve success in the industry. These are common methods for achieving sustainable development. In addition, oil businesses are mature organizations led by seasoned executives and driven by tried and true methods. However, several oil companies have found alternative solutions. There are oil companies that mix realistic techniques with innovative concepts to achieve success. Oil companies have been investing a considerable amount of their budget to research and development, revealing a second striking trend.

Histories of the Firm

British Petroleum (BP) is one of the largest energy companies in the world. The corporation is engaged in the exploration, production, and distribution of oil products, with its headquarters located in London, United Kingdom. BP serves customers in more than a hundred countries. In addition, BP has interests in exploration in 29 nations. In addition to oil production, BP has participated in petrochemical manufacture. The oil company controls multiple oil pipelines and has ties with other oil companies.

However, BP has been regarded as one of the worst companies in terms of environmental and human rights protection. Environmental statutes have been violated by BP. However, BP has been engaged in altering this perception and has made contributions. Currently, the business is engaged in the production of solar panels. In addition, BP has allocated a portion of its R&D budget to enhancing energy efficiency. Additionally, BP products are redesigned to reduce the emission of hazardous substances.

Company Efficiency

In 2007, BP earned $291 billion in income. This number is greater than the previous year's total of $274 billion. However, the 2007 earnings decreased to $21 billion from $22 billion in 2006. Exploration and production accounted for the majority of the revenue. The remaining business segments consist of refining and marketing, gas, electricity, and renewable energy. BP has been active in all business divisions in terms of capital expenditures. In 2007, the total capital expenditures increased from $17.2 billion in 2006 to $20.6 billion. The corporation has invested $8 billion for research into alternative fuel sources (2007 Annual Report, 2008).

BP has been concerned about the safety of the operation facilities. The corporation established the Process Safety Enhancement Programme to assist all company departments. As part of its social involvement, BP has made donations to numerous charities. The organization is committed to enhancing its reputation through effective performance. BP hopes to overcome some of the industry's greatest obstacles. However, these obstacles present an opportunity for BP's processes and methodologies to mature.

Value Chain

Primary and secondary operations comprise the concept of adding value to products and services (Porter, 1985). The key activities encompass the entire process, from resource selection to final products. To strengthen BP's position, the firm has aggressively explored vast oil basin sources. When it comes to handling the supply, BP employs two distinct tactics. The company guarantees that exploratory initiatives are sufficiently sized to meet the needs of specific markets.

Supplier Partnership

In every value chain, the importance of suppliers is frequently emphasized. The influence of these suppliers influences both the success and failure of businesses (McGahan, 2004). BP maintains two significant characteristics regarding the company's suppliers. The first factor relates the locations of the suppliers. BP guarantees that the company receives its supplies quickly. The subsequent policy permits BP to create lasting ties with suppliers. Additionally, the organization develops a pool of providers to increase its choices.

Operational Productivity

The company maintains operational integrity as a vital part of its operations. BP has successfully decreased oil leaks and operating issues. The efficiency of operations is measured by the decrease of greenhouse gas emissions, which is projected to reach 7 billion tonnes within six years. The increase in production costs from $23.8 billion in 2006 to $25.9 billion in 2007 can be attributed to reevaluation processes that aim to improve long-term production efficiency.

Outbound Supply Chain

The distribution of BP products to the market is a significant aspect of the business. The company has made tremendous strides in this regard. BP has currently deployed 53 double-hulled vessels. In addition, BP will continue to use superior ship service providers to transport its products. All delivery protocols are maintained in accordance with BP's ship screening policy. This system is continuously monitored and certified as needed for improvement.

Marketing Measures

Firms benefit from establishing a high-quality reputation in the eyes of their clients (Trout and Rivkin, 1996). Upon acquiring Amoco, BP insisted on preserving the Amoco brand rather than adopting its own. This allowed BP to retain Amoco's loyal client base. BP is widely recognized for its Helios advertising campaign. Through this campaign, BP has enhanced brand recognition by 11% and consumer preference by 3% in the United States. Additionally, the Company participates in charitable activities to stress its corporate responsibility.

Services

In addition to its products, BP provides numerous services to its consumers. Personnel at BP gas stations are trained to assist with transactions and inquiries. In addition, BP has installed a communication network to assist its operations. The organization places a high priority on retaining existing customers. This is achieved through the addition of appropriate services to BP's manufactured and marketed products.

Infrastructure Management

The corporation invested around $6 billion in 2007 to implement an integrity management system. This is intended to support infrastructure maintenance and plant enhancements. BP has been aggressively working to improve the company's health and safety standards. The company undertakes annual examinations with government agencies to determine the amount of occupational dangers. The process encompasses property and equipment maintenance.

Human Resource Development

BP's human resources contribute significantly to the value of its products and services. Barney (1991) noted that firm personnel are the most difficult to copy. The company has been active in offering equal training opportunities for local employees and top management. In addition to training, BP provides sufficient compensation to its employees. Performers are granted appropriate medical coverage and other incentives. BP has built safe work environments that adhere to human standards. In addition to expert managers, BP has developed technology to monitor the status of its employees.

Investigation and Development

BP is planning to invest more on research and development. In 2007, the value of physical assets climbed to $6,6 billion from $5,2 billion in 2006. Trends also indicate that BP would likely raise its capital spending in 2008. Research and development is a crucial company component that will allow BP to obtain the necessary competitive edge. Currently, research and development initiatives are mainly focused on the development of efficient fuel and other energy sources.

Procurement

The procurement procedure enables BP to reduce the amount of time required for product production. In 2007, the entire amount of BP's purchases was $200 billion. The magnitude of this acquisition demonstrates the significance of the system. In addition, property, plant, and equipment grow from $91 billion in 2006 to $97 billion in 2007; this represents a ten percent gain. BP's procurement strategy is based on the company's decision to increase efficiency. Therefore, there is no waste in the process, and the supplies acquired are utilized to their full capacity.

Strategic Evaluation

BP's strategies describe the procedures and functions of the company. The approach used to develop these plans is crucial to the success of the company. Mitzberg (1989) stated that a company's tactics are based on its objectives and culture. Most strategies are long-term and require time for refinement. However, BP has other short-term plans to capitalize on opportunities (Shank, Speigel, and Escher, 2005). The balance between the two is vital to the company's success. There is a risk that BP will lose other opportunities for expansion. The execution of a specific plan incurs some opportunity cost.

Productivity Effectiveness

The oil extraction process generates useful byproducts. There are materials that are discarded rather than transformed into completed items. The importance of production process quality cannot be overstated. Each stage of production must minimize waste and maximize output (Deming, 1983). This is BP's ultimate objective. Since oil is a scarce resource, optimizing its utilization is a top priority. This encompasses facility upgrades, pipe maintenance, and the enhancement of distribution procedures.

In other industries, companies reduce their procedures to conserve resources. There are duplicate procedures that need to be diminished. Additionally, waste occurs when labor is inexperienced and equipment is substandard. However, there are costs associated with a focus on efficiency. This approach will force BP to incur higher expenses than usual. According to its most recent earnings report, BP has dramatically boosted its expenditures. When the cost of efficiency exceeds its benefits, BP must evaluate its strategy for increasing production efficiency more thoroughly.

Diversification

BP intends to exist as a firm that offers a variety of goods and services. BP distributes petrochemicals and solar cells, two of the most distinctive things available. The former is an in-demand commodity utilized in a variety of other sectors. The latter product exposes BP to the market for alternative energy. Both items are designed to reduce BP's reliance on oil sales.

In addition to generating income, these additional items enhance BP's marketing portfolio. For instance, solar energy advocates praise the company's solar cells. However, BP must identify the necessary compromises for the expansion of these items. BP's polyester business represents an additional type of diversification. The company currently has a partnership with a polyester-producing company in Zhuhai, China.

Difficulties and Obstacles

BP's operations have space for improvement. As noted in past meetings, the company's operational expenses remain significant. This means that operational efficiency targets are eventually missed. The drop in operational expenditures must demonstrate a good trend. In addition, exploratory projects are severely reduced in 2007. In 2006, the company incurred $1 billion in exploratory costs, compared to $756 million in 2007. In a competitive industry, this lack of emphasis will hinder the company's long-term success.

BP has understood the importance of diversification. Therefore, the corporation shifted its focus to alternative energy and textiles. In doing so, BP has decreased its emphasis on its primary source of income. Oil products are still considered the company's most important product. BP's emphasis on diversification may result in the decline of the company's reputation.

Conclusion

Overall, 2007 has been a successful year for BP. Revenue growth and improvements in other financial indicators are highlighted. Several operations were carried out to add value to BP's products. Most pertinent were the Helios marketing, research and development, and safety emphasis. In addition, BP has engaged in extensive employee training and the ongoing development of supplier alliances. BP's approach places an emphasis on its other products. BP has already investigated the market for alternative energy and the textile sector.

References

Barney, J. (1991), "Firm resources and sustained competitive advantage," Journal of Management

Out of Crisis, Cambridge: MIT Centre for Advanced Engineering, 1986. Deming, W. E.

McGahan, A. (2004). How Industries Evolve — Principles of Achieving and Sustaining Superior Performance.

Mintzberg, H., (1989), Mintzberg on Management, London: Free Press.

New York: Free Press, 1985. Porter, M. Competitive Advantage: Creating and Sustaining Superior Performance.

Sims, R. (2002). Organizational Success via Effective Human Resources Management. Quorum Books, Westport, Connecticut.

Shank, J.K., Spiegel, E.A., and Escher, A. (2005). "Strategic Value Analysis for Competitive Advantage: A Case Study in the Petroleum Industry."

New York: McGraw Hill, 1996. Trout, J., and S. Rivkin. The New Positioning: The Latest on the World's No. 1 Business Strategy.

British Petroleum (2008). Annual Report for 2007. Web.

[supanova question]

Operational Management: Flow Process Charts And Network Charts English Essay Help Online

Table of Contents
Process Flow Diagrams and Network Diagrams Activity Sequencing and Workload Scheduling to Meet Stated Goals Manage Resources References for Capacity and Movements in Relation to Demand

Process Flow Diagrams and Network Diagrams

In order to ensure the quality of the processes, there is a way in which things follow one another in every organization, whether they are state organizations or businesses. Flow charts and network diagrams are used to define the path that a process takes in order to achieve the intended result in the most efficient manner for the benefit of the client and the company. Flow charts and network diagrams are sequential diagrams that define a project; the police are not an exception. They illustrate the activities involved at each stage as well as the time, manpower, and financial resources required. These are the diagrams that are created to outline the project's processes. They are one-of-a-kind in that they provide alternate paths to the end products. Following a particular path along the network is required to produce the final product. The optimal route is the one that is economical in terms of both cost and time. The flow chat has a “if” condition in which the occurrence of a particular function is contingent on the subsequent action. There are tasks that can be conducted concurrently to decrease the amount of time necessary to complete the project. On the other hand, some actions must be completed after others. These are all defined by flow process diagrams and network diagrams. The job of the operations manager is to comprehend the processes and allocate the necessary number of resources to a specific task. It also helps him prioritize, especially when he lacks sufficient finances. This is because certain activities can be postponed without impacting the completion of a project. If a certain project is slowing the process, the flowchart may immediately identify the problematic area and assist management in resolving the issue. The expertise required to finish a project will also be displayed on the flowchart (Wheelen & Hunger, 1998). This is due to the fact that the level of production attained will be determined at each and every stage. The police must execute a variety of tasks in order to efficiently carry out their duty. Included are recruiting, training, and the acquisition of weaponry. If the department is confronted with the aforementioned three tasks, the flowchart will establish how tasks will be performed. The option available is that it can be

Purchasing weapons;———————recruit-train;————————————&#82

Or Recruit ————————————————————&#8212

Following are examples of tasks that can be performed either before or after others. Training cannot occur prior to recruiting. If there are insufficient funds, the department can elect to recruit and purchase the weaponry at a later date since it can wait. After the process has been completed successfully, the institution can provide clients with high-quality services.

Activity Sequencing and Task Assignment

The police force is comprised of numerous projects designed to ensure that they achieve their mandated objectives. As in business, the projects must be well-coordinated. A project is the culmination of an alliance of efforts. Individual actions may be involved, but the completion of the project is the primary objective. There are actions that must precede or follow others. Others must be completed at a specific time for various reasons that are unique to them. Thus, it is the responsibility of the operations manager to guarantee that the activities follow a specific order for the effective completion of the project within the given time limit and in the most efficient manner possible (Morgan, 1980). For instance, when the police are reporting a crime, there is a procedure that must be followed; both the suspect and the arresting officer must file a report. This must follow a certain sequence. To aid the management in allocating the necessary time and resources, it is necessary to comprehend the workload of a particular task. The objective of the project is to complete all work, although this is contingent on the timely completion of all activities. The activities are interconnected and interdependent. There is a propensity for one department's or activity's failure to result in the failure of another. On the other side, if one activity is completed so quickly, there will be idle resources and stress on others, as they must flow with the others for the successful completion of the project. Due to unpredictability, some projects may require additional resources, either in terms of manpower or funds; therefore, the manager should have a plan for activities that can be postponed so that they can focus on the most important task (Anon, 2006). Total Quality management must be implemented in order to ensure that the objectives of an activity and the overall project objectives are met; Total quality management comprises of competitive movements and business tactics designed to produce successful performance; it is management's "game plan" for operating a business, enhancing a company's competitive position, and satisfying customers, stakeholders, shareholders, and employees. It strives to improve the manner in which all parties to the business are satisfied. It tries to exceed the consumers' expectations and exceed their satisfaction. This is achievable if the management has carefully scheduled the actions. The quality of the police's services should be assessed to verify that they are within the acceptable range. The issue areas should subsequently be addressed.

Plan Operations to Accomplish Declared Objectives

A police force necessitates both human and material assets, including firearms and other facilities. According to an English proverb, neglecting to plan is preparing to fail. Even if an organization has the necessary human and material resources, nothing can be accomplished if the resources are not structured and planned in a way that enables output. The management's success is mostly dependent on how well it will organize the available resources to achieve quality and efficiency in operation.

The required number of police officers and the necessary equipment are determined by the police administration, which determines the type of competence needed in the force and then searches the market for appropriate candidates. After varied expertises have been brought into the firm, the next duty is to integrate the employees so that they may complement one another and produce excellent results. The motivational techniques implemented will affect the outcomes achieved by the forces. The project should be prepared and the company's available potential should be examined. The resources must be available, and the timeline must be specified. Each activity will require both macro and micro planning by management and the activity or project manager, respectively. For the police to be able to do their jobs efficiently, morning preparations and parades must be organized. At each activity level, the objectives that must be met by the project must be specified to guarantee that no area fails. Consider the activities in a police environment: the morning run, followed by drill classes and legal classes. The operations manager must guarantee that a tutor is available to lead the morning run and call out. He must possess the necessary tools and knowledge for this. In addition to law classes, Drill needs a tutor. It is the responsibility of management to guarantee that the available resources are well-planned for the smooth operation of activities (Münsterberg, 1973).

Manage Capacity and Movements of Resources in Relation to Demand

The majority of police services include direct engagement or telephone connection between the police and the client. They are services that touch areas of life, hence the requirement for professional personnel cannot be emphasized enough. Some responsibilities are routine, while others are incidental. There are always limited resources available in bits. The management is responsible for ensuring that the available resources are effectively handled to achieve the organization's objectives. Priority should be given to processes that cannot wait, while ensuring that delayed tasks do not impede the timely completion of the project. Time is another nonrenewable resource that must be handled in addition to human and psychical resources. In general, there are two types of resource mismanagement: underutilization and overutilization. The existing resources should be utilized in a manner that maximizes their utility without overusing them. In a police administration, it is the responsibility of management to guarantee that sufficient numbers of officers are patrolling a given region. This depends on the security condition in the area in question. Some situations necessitate a quick response, thus this must be taken into account when assigning responsibilities (Smith, & Mazin, 2004).

Planned utilization of the company's physical resources is necessary because they determine the technological level to be implemented at each step. Which assets to purchase and how, as well as which ones to rent, will have a significant impact on the cash flow of a firm. The police force has access to a variety of equipment, including weapons, and the technology deployed at any one time should be superior to that which criminals may acquire. It must be exceptional. After the weapons are purchased, they must be carefully monitored to ensure that they are used exclusively for the intended purpose; there have been occasions in which police guns were used to commit crimes; these are examples of operational failure.

References

Anon, 2006, Project Management. Web.

"Paradigms, Metaphors, and Puzzle Solving in Organizational Theory," Administrative Science Quarterly 25: 605-21 in 1980.

H. Münsterberg, Psychology and Industrial Efficiency, 1973. New York, Arno Publishing.

Smith, A. S., and A. R. Mazin, 2004, The HR answer book: an invaluable resource for managers and human resource professionals. New York: AMACOM Division American Management Association

Wheelen, L.; Hunger, J, 1998, Strategic Management and Business Policy: Entering the Global Society of the 21st Century, fifth edition. Reading, Massachusetts, and Addison Wesley's Harlow.

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Management Successful Communication English Essay Help Online

Table of Contents
What factors affect consumer behavior? Effective Customer Communication Effective communication is what? Effective Message Technique What effect does organizational culture have on communication? Obstacles to Communicating Conclusion Bibliography

What factors affect consumer behavior?

A business's success depends on its clients; a customer is the most valuable asset a company can possess. Occasionally, however, consumers behave in a peculiar manner, in that they do not respond to the incident or business's efforts. The ability of a firm to effectively interact with customers will always be the most significant factor in attracting and retaining customers. There is a language that should always be used while dealing with a customer. This is one area where communication should be improved to ensure the customer receives the intended information (Jashapara, 2004).

Communication with clients is not limited to one-on-one interactions. This includes nonverbal communication. All of a company's operations, outside of client interactions, are kinds of communication that are interpreted in many ways by customers, I have learnt. These efforts include, among others, product quality and social corporate responsibility. Just as humans have body language, firms and businesses too have a “body language” (Neal and Quester, 2006). An effective manager should take the initiative to steer his organization in a direction that sends the right messages (information to the consumers).

I've also seen that the language used in business communication is a major concern. Different clients comprehend in different ways, thus the terminology employed must also vary. For example, if one is speaking to young people, he must ensure that his vocabulary is appropriate for that age range. In addition, there is the issue of "Professional Writing and Rhetoric writing." I've recognized that a solid grasp of English is essential for effective business communication (Carroll, 1956).

Why do people tend to collaborate on a given move, such as in the fashion industry? During my twelve weeks, I gained an in-depth grasp of human behavior, which I learned more about in Malcolm Gladwell's book The Tipping Point. The concept in the book attempts to explain why people behave differently at different times but exhibit the same wave of behavior at a given period.

The book attempts to answer the question of why people tend to have similar actions over a period of time; for instance, why do certain fashions dominate for a period of time and then disappear? Nobody communicates that this is the fashion now, and let’s stop putting this now, because humans act unconsciously and change their behavior. To illustrate this, I have acquired three distinct theories for the contagious nature of human behavior and deeds. It is believed that they are more contagious than infections.

The second explanation describes how every small action we take has a significant impact. This indicates that, in the event of a shift, only a percentage of the population (which may be referred to as the opinion leader’s potion) is required to change, and the rest will follow. The tipping point is the third and most important component of the book. In this passage, the author asserts that every behavior or action gradually develops with little attention up to a certain point, after which it becomes imperative to promptly reverse the trend (Gladwell 3-234).

Effective Customer Communication

There is a need to simplify the writings of bankers, engineers, and auditors for the benefit of non-technical readers, because not everyone can comprehend their job. When writing with a human touch, it is essential to focus on emotional appeal, moral character, and reasoned argumentation. These values are communicated from the writer to the real recipient of the communication and facilitate mutual understanding.

A seasoned writer of technical work or professional writer is aware that if the work is not presented well, it is useless because the intended meaning will not be deduced. Rhetoric, which is a persuasive form of communication, must therefore be incorporated into technical writing. As advocated by rhetoric proponents, emphasis is placed on the delivery of the message, memory, invention, the organization of text, and the style employed to unite the two minds (Miller, 1985).

Effective communication is what?

A proactive communication approach is essential for effectiveness. This plan is created after identifying the success of a firm and obtaining a solution from listening activities. Plan components include, among others, sending staff to seminars on issues such as customer service, organizing employer-employee get-togethers, awarding employees, having frequent meetings, involving significant stakeholders in business decisions, and assuring personal service. This plan does not focus on resolving previous issues, but rather on creating a solid foundation that ensures future corporate success.

A communication strategy should take into account the availability of resources and the business's long-term or short-term goals. Now that a communication plan has been developed, the organization is concentrating on its execution. The desired outcome should be kept in mind, and the plan's primary components should be examined to ensure that they are consistent with the desired outcome. The implementation process should involve as many people as feasible, but only one individual should be accountable for its success.

Effective Message Technique

A sound bite is an example of a successful communication technique that businesses can employ. Sound bites are concise remarks that describe the objectives, nature, or nature of a certain product or service. They are extracted from an interview with an authority figure, such as the chief executive officer, director, or marketing manager of a certain organization. The personnel responsible for editing the interview believe sound bites to be the most significant aspect of the interview, and they are incorporated into the news program (Whitaker et al 2004). For them to be effective, they must utilize language that is vivid and self-motivated, be concise and clear, outstanding, and simple to remember.

What effect does organizational culture have on communication?

Organizational culture is intricate and has numerous definitions. It consists of custom, knowledge, belief, morals, and individual capacities. The values, gender, customs, and morals held by the organization's members are examples of variables that might shape its culture. Values are the fundamental principles of organizational culture. Scholars suggest that it is possible to examine the values that are perceived in a specific organizational culture and make adjustments. In most instances, organizational values are stable, and many people dispute that they can be altered (Plessis, 2006).

Regarding gender, every organization has a unique perspective. Some feel men should have more responsibilities than women, while others believe men should be compensated more than women. Norms are the recognized social rules that govern the behavior of a certain set of individuals in a given situation. It is the job of organization executives to acquire and utilize the ability to form organizational morality in order to create an effective organizational culture. When disseminating specific knowledge, one must consider how the information will be absorbed by the bigger group. It can either hinder or improve communication (Black, 2003).

Obstacles to Communicating

The first step in effective business communication is identifying a company's communication deficiencies. This can be accomplished by identifying company difficulties through brainstorming. Such challenges might be obtained through reviewing the business's daily operations (Guffer & Almonte, 2009).

The following questions may serve as guidelines: Are employees provided with a favorable working environment? Are they satisfied with their work? Has the company been able to satisfy each and every client? Is accurate information delivered to all parties? Exists a natural flow of conversation? Overload of messages, failure to share information among significant stakeholders, failure to incorporate employees in decision-making processes, and personal qualities are four communication problems or hurdles at Staples (Harvard Business School, 2002).

Employees are given numerous instructions but are not permitted to practice them or demonstrate their skill. Communication entails speaking, listening, sending, and receiving messages; it is not limited to merely sending them (Guffey et al 2009). Listening is the key to success in communication, but most people run into difficulties because they do not exercise it. For corporate communication to be effective, listening skills must be refined.

Listening is merely reserving judgment and allowing answers to come from the outside. This is not the situation at staples, where managers make decisions without considering the opinions of other employees. Important information is typically concealed from the staff and is inadequately communicated. Staples's top executives have diverse thoughts and perspectives towards the organization's future, which may be impacted by their knowledge and culture (Faigley, 1985).

Conclusion

Business success requires effective business communication. For corporate communication to be effective, it must be based on strong relationships with key stakeholders. I would recommend identifying the shortcomings in corporate communication, addressing them, and leaving opportunity for listening. Communication is a constant process that should always be welcomed. It should be revalued at the shortest possible intervals.

Bibliography

White, R. (2003). Developing the Influence Required for Strategic Success through Organisational Culture. Boston: publishers Universal

Carroll, J. (1956). The M.I.T. Press; Massachusetts; Language, idea, and reality

Faigley, L. (1985). The Social Perspective on Nonacademic Writing New York: Guilford Publishing.

Gladwell, M. (2006). The Tipping Point was published by Little, Brown in New York.

Guffer, M. E. & Almonte, R. (2009). The fundamentals of business communication The New York location of Cengage Learning.

Guffey, et al (2009). Communication in Business: Process and Product The New York location of Cengage Learning.

Harvard Business Institution (2002). (A) Jeanne Lewis of Staples, Inc. (Abridged). The McGraw-Hill Companies, New York.

Jashapara, A. (2004). A holistic approach to knowledge management Financial Times Prentice Hall, Washington.

Miller, C. (1985). Perspective survey on invention in technical and scientific discourse, published in Research in Technical Communication. Connecticut: Greenwood Publishing Group

C. Neal and P. Quester (2006). Consumer behavior: marketing strategy implications Australia's McGraw-Hill publication.

Plessis, M. (2006). How organizational culture influences knowledge management. Indiana: Chandos.

Whitaker, R. et al (2004). Print, broadcast, and public relations writing for the media. Routledge, New York

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Diversity Problem In Massachusetts TD Bank English Essay Help Online

Table of Contents
Introduction Diversity as a Present HR Issue TD Bank Problems Conflict Resolution Strategies Effective Corporate Initiatives Conclusion Bibliography

Introduction

In Massachusetts, diversity in the banking sector has been a major organizational problem for a long time. Whether at banks, other agencies, or institutions, diversity remains a challenge as a result of the myriad of obstacles professionals must overcome in order to develop and implement effective cultural strategies. Despite significant revisions in affirmative action initiatives and the hiring of 20 new employees in 2008, the Massachusetts-based TD Bank encountered diversity issues due to a lack of communication and ethical norms. On the one hand, it appears difficult to establish a cultural approach that would function effectively over the long term. On the other hand, businesses are not prepared to embrace and hire varied populations comprised of former employees who have learnt to advocate diversity as an integral component of individual and social culture. Diversity begins with effective quality education, and whenever we seek to create multifaceted cultural strategies in bank departments, they will be readily reflected in business and market environments, as these are also shaped by those who graduate from schools and are actively involved in numerous cultural initiatives that are closely aligned with the major goals in career development.

Diversity as a Present HR Issue

Despite its origins and historical relevance, cultural diversity is a contemporary concern for a number of financial organizations. Current diversity issues are characterized by a lack of regard for and denial of the cultural values and beliefs of contemporary employees. Businesses must be more attention to what globalization reveals about diversity, both objectively and counter to someone's preconceptions. The liberalization of commercial interchange and commercialization of culture, as discussed by Konrad et al. (14), are the primary drivers of cultural diversity, which is crucial for both business and education (Mor Berak 87). In addition, multiculturalism in education is a prerequisite for big achievements in other areas of human performance. To promote these changes, there is a rising need to modify curricula and incorporate multicultural studies within standard curricular subjects. In a multicultural society, and as a result, in the context of multicultural education, employees are provided with more chances and opportunities to become educated about the different threads of the past that have woven the webs of the present. In many cases, multicultural education is the means by which employees are taught to view the world through the lens of multiple intercultural experiences and to adapt to the rapid cultural changes characteristic of contemporary society. It is impossible to be respectful and ethnic toward individuals from other ethnic and cultural groups without establishing an effective system of multicultural education that will take numerous forms and be tightly associated with the bank's primary operations. Managers at the bank should be familiar with and able to discuss historical and cultural issues from various cultural perspectives. Moreover, managers can successfully utilize the cultural knowledge of students from many backgrounds to widen the scope of workplace education and learning and provide other students with the opportunity to examine their cultural views toward their peers. Lastly, diversity can be utilized to engage employees in a variety of cultural extracurricular activities, which will have major positive effects on employee interaction in the classroom. Mor Berak (43) is renowned for identifying twelve sources of cultural identity. Race, ethnicity, country, socioeconomic class, sex/gender, health, age, geographic region, sexuality, religion, social status, language, and ability/disability can be categorized as subgroups. According to Mujtaba (32), teaching and learning are strongly influenced by culture. These things are common to contemporary culture when combined. The same can be said regarding cultural knowledge. Typically, these things are filtered or transferred to folks with the assistance of several socializing agents. Included are family, church, and community. In actuality, the primary characteristics of cultural strategies in the United States include an emphasis on direct action and massive spending in cultural initiatives that do not always yield the desired benefits. The American commitment to cultural strategies is an increasingly positive cultural trait; however, it is difficult to deny that these commitments and interventions are only effective at the onset of their implementation, while the future is unlikely to be conducive to the development of such policies. Those with accents and prominent minority background characteristics are unlikely to join one's business team. This is why employees should be given the opportunity to learn about existing cultural programs, apply keen observation when evaluating these programs, and delve deeper into the ways in which these programs can be adapted to fit existing cultural frameworks and meet the most fundamental cultural needs (Konrad et al 98).

Difficulties at TD Bank

The HR management concludes that the most challenging aspects of investigating diversity are cultural in nature. It was quite difficult for people to agree on which perspective of culture should become the prevailing one. The other conclusion of this research is that people are exposed to hundreds of definitions of culture. Under these conditions, it may be difficult for individuals to identify the common thread that connects the numerous definitions. This concern stems from the notion that culture is linked to some element of the environment that was created by humans. Together, these components represent many aspects of nature. This nationwide urgency serves to raise awareness of cultural variety. The concept was inspired by the increasing number of ethnic employees who reside in various locations (TD Bank Home Page n.d.). The aforementioned acts help individuals reinforce a variety of emotions. Typically, these emotions aid employees in recognizing their experience of estrangement. This procedure hinders the personal, academic, and professional growth of employees (Banks and Banks 65). Several proposals have been made for enhancing the employees' understanding of the workplace environment as a whole. To instill in employees the importance of diversity in teaching and learning, the measure has been implemented (Konrad et al 98).

Numerous significant characteristics describe the bank initiatives. One of these is the issue of adaptability. In many instances, this phenomenon is produced by a combination of causes. One of these elements is an increasing awareness of the value of adaptability and diversity. In the majority of situations, the problem stems from the necessity to abandon a "one-size-fits-all" approach to teaching. The same can be said of a development vision that is closely tied to human thought. Mujtaba has previously made an intriguing implication (76). According to the researcher, there are three major development discourses that define human existence. The combination of these discourses has a significant impact on all areas of human education. It was recognized that the first discourse was founded on the concept of lack. As for the second, this type of discourse addressed the disadvantages diversity poses to humanity (Konrad et al 45).

Strategie de résolution des conflits

I would suggest the following line of action to decrease cultural differences: The Massachusetts bank authorities should implement various programs and activities to eliminate racial and national educational disparities. Involving employees in observation and debate is merely one additional method for analyzing the primary advantages and disadvantages of the current cultural programs. Managers should be prepared to interact with a variety of personnel, cultures, and personalities. Employees should be aware that they may always seek assistance from their supervisors and that their managers are primarily there for cultural education and understanding. Managers at all levels should be responsible for demonstrating sensitivity and adopting intercultural solutions that assist employees in learning in the same manner. Managers should also identify the various modes of education that will assist particular personnel in adapting to specific cultural situations. Implementing diversity is essential for achieving the objectives of monitoring employee development and enhancing the efficiency of employee input and output in learning. Even with these boundaries and criteria for cultural learning specified, managers should feel free to choose an appropriate method for teaching personnel. Several aspects of diversity have been evaluated and studied in recent research, according to the findings. Researchers appeared to investigate numerous crucial topics. Initially, the research into the subject aided in the preservation of some essential items. First and foremost is keeping the attitudes and dispositions of managers towards diversity. The ultimate result is determined by the impact of necessary intercultural courses (Mujtaba 76).

According to the following premise, the primary goals of the new diversity program are categorized as follows:

Awareness of stereotypes Instructors should devote a great deal of time and tolerance to the assumption that female employees have a propensity to avoid quantitative tasks. Typically, individuals are conscious of their own biases. This fact facilitates the promotion of various essential items. Promoting a sense of fairness and equality in the workplace is one of these.

Keeping away from safeguarding any group might be considered a difficult task. Multiple processes form the procedure. When executed correctly, the method assists individuals in avoiding several significant stereotypes.

Under these conditions, several instructors face a number of obstacles. Many of these obstacles are a result of the difficulty faced by various groups of people attempting to prevent preferential treatment for minorities. The exact same may be said regarding international personnel. Many of these individuals have a deep belief in the system in which they reside.

Many of the people may require additional assistance. The necessity is due to language barrier. The aforementioned reality may result in a decline in people's living conditions. Another essential factor to remember is that the personnel may be less prepared. This fact gives employees the impression that they are not treated fairly. A further intriguing fact is that the teacher perceives minority personnel to be a less qualified bunch. This offers employees the opportunity to feel that they are not being treated fairly. Another key advantage of this type of treatment is that it helps individuals lower their self-esteem. This alters people's perceptions of their abilities and competence considerably (Mujtaba 78).

Moreover, sensitivity to the geographical and societal origins of personnel is crucial. This helps employees recognize that there are a number of extremely vital factors to consider. Hispanic employees are the group that demonstrates a tendency to be distinct from the other categories. The most significant result of the findings is that the Hispanic population should be investigated more thoroughly than any other population ever studied.

The usage of politically acceptable language is also a crucial factor. This helps individuals become politically savvy citizens. The concept is founded on the widespread use of contemporary vocabulary in the workplace. This aids in remembering that the workplace can be viewed as a laboratory for the employees.

The instructors are the role models for future graduates. This example is applied to several groups of individuals. There are numerous ways for employees to be accepted throughout human society (Mujtaba 76).

In many instances, these individuals tend to shun the term "black," preferring instead African American names. One might say the same thing regarding Native Americans and American Indians. These individuals also represent national minorities (Thomas and Ely 229).

Effective Corporate Initiatives

Extensive research has been used to derive the Effective Organizational Practices. The primary purpose of the research is to provide managers with appropriate training in the setting of cultural diversity. Recent study indicates that excellent training can achieve numerous objectives (Mujtaba 54). One of these aims requires extensive investigation. The primary implication of the research is that organization- and district-level issues have received inadequate attention. The combination of these elements can help achieve numerous significant objectives. One of these objectives is to facilitate effective diversity program instruction. Groups of minority-ethnic and minority-language personnel are subjected to the programs (Mujtaba 55). The programs in Massachusetts must satisfy the following objectives:

establishing the framework for early work Developing an effective training model for managers. The combination of these models is intended to promote the experimental instructional method. Typically, the process is denoted by the term "reflective practitioner." The second essential purpose is to include management in future studies. Typically, managers are involved in integrating individuals into initial encounters. This combination of experiences can satisfy the requirements of the people. Understanding the perspectives of employees is also essential for the advancement of their interests (Mujtaba 71).

Conclusion

The importance of the 'diversity' debate in Massachusetts TD Bank will be realized when individuals realize that development plans should be centered on people. People have begun to seek'solutions' rather than 'issues' more frequently in recent years. As a response to globalization's forces, individuals must search for both solutions and issues. The necessity to preserve similar diversity tendencies in broader social contexts justifies the importance of variety in education. Given that positive communication is essential for professional advancement, we attempt to broaden our approaches to business forms and solutions and build a positive image of minority participation in business. True learning is impossible without people; therefore, true cultural learning is also impossible without the participation of multicultural personnel from ethnic minorities.

Sources Cited

Handbook of Workplace Diversity. By Konrad, Alison M., Pushkalad, and Judith K. Pringle. 2006, Sage Publications Ltd.

Managing Diversity: Toward a Globally Inclusive Workplace. Mor Berak, Michàlle E.

2005, Sage Publications, Inc.

Mujtaba, Bahaudin Ghulam. Management of Workforce Diversity: Challenges, Competencies, and Strategies. Llumina Press, 2006. TD Bank Home Page. 2010. Web.

Debora Thomas is her name. A. Ely, Ron. J. Cultural Diversity at Work: The Effects of Diversity Perspectives on Work Group Processes and Outcomes. Administrative Science Quarterly, 46, 229 (2005).

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Bain Company: Consulting And Management English Essay Help Online

Introduction

This article offers a study of the principles addressed in Warren's sixth chapter of Competitive policy dynamics. The chapter discusses the development of resources. It describes the steps that resources must pass through during the development process. This chapter analyzes in depth how the property's contribution to the overall success of the business varies across the many periods of its development. Human resources are one of the most important resources that the organization needs to cultivate. This refers to the members of the organization. Human capital is an indispensable asset for any organization. This is due to the fact that people participate in the day-to-day operations of the organization. Therefore, if the human resource performs well in an organization, or if the human resource's production is excellent, the productivity of the entire organization will also be satisfactory. The firm may have highly productive machinery, but if the operators are not performing at their peak, the machine's production will not be optimal. There are further resources within the organization. They include, among other things, buildings, machines, and motor vehicles. Financial resources are also crucial to an organization, and we cannot disregard them (Warren 2002).

The business we will evaluate is a hotel that provides lodging, conference facilities, food, and recreational amenities such as swimming pools, playgrounds for children, bars, restaurants, a fitness center, and a nightclub, among others. The hotel's resources include fitness facilities, buildings, kitchenware, employees, and rental automobiles, among others.

In product marketing, the customer receives tangible goods, and if there is a defect in the good or the customer is dissatisfied with the good, the customer can return the good to the seller and provide evidence of the defects in the good that led to the customer's rejection of the good. Such evidence includes an expiration date on the product's packaging, which demonstrates that the product had expired by the time the consumer purchased it. The seller or marketer of the product will be satisfied with the client's complaint and provide him with a replacement product (the customer). In service marketing, however, the client is unable to provide evidence that the service was provided poorly. As a result, the service provider may believe that the customer's complaint is not genuine, leading to a dispute that results in the customer leaving unsatisfied and the service provider losing the customer. In addition, the consumer may continue to circulate negative feedback about the service provider, causing the service provider to lose even more customers and, as a result, its market share to decline dramatically. Thus, the success of service marketing depends not only on the effectiveness of the promotion, but also on the health of the service's operations. Consequently, the operations of the firm play a crucial part in delivering and enabling the highest quality service to the clientele (Garry 2005).

If a department supporting business operations fails, the other service sectors will also fail, leaving the customer dissatisfied and unwilling to return for the same service.

Therefore, it is essential that both employees and managers receive training in service operations in order to give a high level of service, which will ultimately result in an increase in customers and revenue.

In addition, the paper will illustrate through real-world examples how the service operations and marketing industries are interconnected and why their performance is crucial to the success of a firm. The Servuction Model and the Service Triangle will be utilized to examine the negative and positive service operations of an organization. To illustrate this, we will use two examples, one involving a dissatisfied client and the other a dissatisfied employee, to demonstrate how their discontent impacts the functioning of the entire firm (Fred 2009).

Experience 1

Model Employed – Servuction Model

This model illustrates how a variety of factors impact the service experience for both the client and the service provider. The service provider in our situation is a beach hotel. The model consists of the client, other customers, service providers, the services cape, and the organization's unseen systems.

The Experience – A hotel evening fight

A customer enters a hotel and immediately proceeds to the front desk. The receptionist appears to be flustered by the high number of customers who continue to arrive as night falls. The customer speaks French, but the receptionist seemed to struggle with the language. The customer wished to enquire about an online reservation he had made earlier in the day and receive directions and a key to the booked room. Due to a gap in communication, the customer appears angry and criticizes the receptionist, who reciprocates by insulting the customer in English. The customer comprehends the insult, and an altercation ensues. Other guests are horrified and begin to flee the hotel, resulting in injuries to a number of guests. A few hours later, the incident is reported on television, and several guests cancel their reservations at the hotel (Daly, Fisher & Jackson 2004).

Evaluation of the experience's employed model

The model demonstrates how unqualified personnel can result in financial losses for a business. This is due to the fact that the problem began because the receptionist did not understand the client's language. Furthermore, the client did not apologize to the receptionist for the frustration he caused the client, nor did he show the client someone who could have helped him; instead, he retaliated to the client's insult, thereby causing the problem. The incident injures some clients, and as a result, other clients close their accounts, resulting in revenue loss for the business. The news is also broadcast on television, and as a result, additional potential guests avoid reserving at the hotel on security grounds. As a result, the company loses a portion of its market share to its competitors, resulting in a decline in revenue (Howard 2007).

Experience 2

The Market-Focused Management Model was utilized.

This individual believes everything revolves around the client. Consequently, it focuses on the numerous components of the organization that are accountable for service delivery. These components consist of the service plan, personnel, and systems. In addition, the paradigm is given in the form of The Services Triangle, a triangle diagram.

The Experience – Customer astonished with the Service and Ambience

A worker who had been absent owing to a work-related injury arrives at the office early in the morning. The injury was caused by the explosion of a gas cylinder in the kitchen, which prompted the employee to jump from the initial flow and fracture his leg outside through the window. The management contended that since the employee was responsible for causing the explosion, he should pay for his own medical expenses and the explosion's damages. When the employee arrives at work, he is allocated a new position as a waiter, and he thinks that his contributions to the organization are being disregarded. The employee spends the entire day under stress and, as a result, provides poor customer service, resulting in widespread disorder in the hotel and numerous customer complaints. Some guests leave the hotel in search of better services elsewhere. As a result, the hotel loses some guests to its rivals and also suffers some revenue loss (Hoffman & Bateson 2006).

Assessment of the Model Employed in This Experience The above model illustrates how actions by management can lead to employee unhappiness, which in turn can lead to subpar work by the employee, resulting in dissatisfied customers with the organization's service. A lack of motivation on the part of employees induced by the acts of management can result in underperformance on the part of employees, so negatively impacting the performance of the business as a whole. This connection is depicted in the flowchart below. The resources are dependent on one another due to their interdependence. This indicates that if one resource, such as the human resource or the staff, underperforms or is inefficient, the other resources will not be utilized properly, resulting in inefficiency throughout the firm.

Contribution of resources to an organization

Recognizing that resources contribute to an organization in different ways at different phases of development is one of the topics covered in this chapter. In the context of our case study hotel, the fact is readily observable. This is because the organization's assets are of several types. For example, human resources respond differently depending on input levels. According to the principle of the learning curve (Stingster, 2009), an employee's productivity varies as he or she accumulates experience in the position. Initially, the individual undergoes orientation, during which the other employees, particularly the superiors, instruct him or her on how to perform the job. At this point, the individual's productivity is nearly nonexistent. As the individual continues to work and gain experience, he becomes more productive, and his productivity increases as he stays on the job. This explains why many employers want experience prior to hiring a candidate. The knowledge curve begins with a low productivity level in the early years, climbs until it reaches its peak, and then begins to decline as a person ages.

Alternately, the initial years of ownership of other assets, such as motor vehicles and other similar resources, are characterized by exceptionally high levels of productivity, which decline gradually as the asset depreciates due to wear and tear. The productivity of financial assets such as capital is contingent on the productivity of other assets, particularly human resources. This is due to the fact that the return on capital is contingent on the overall performance of the firm.

The second issue covered in this chapter is the significance of understanding and managing the rate at which assets or resources grow.

These resources include personnel, customer assets, and products. If the management has previous awareness of such unpredictability, he is able to properly plan so that the organization may obtain the highest possible output from a resource before the resource's productivity begins to decline. In this manner, the business is able to obtain the most potential returns on its investments in assets and resources (Warren 2002). For instance, managers can schedule the recruitment process such that there is never a moment when a large number of employees leave the business simultaneously. This is due to the fact that if this occurs, the new employees hired to replace the departing ones will be very unproductive, and as a result, the business may not be able to meet client demand during this time period. Such a circumstance might cause the company to lose both profitability and a portion of its market share, which had cost the company a substantial amount of money to retain. For the remaining assets, it is equally vital to alternate the purchasing periods so that their productivities do not fall at the same time, hence causing the same problem as described previously (Tumfweko 2003).

The second area of discussion is resources that depreciate rather than appreciate.

Such assets include machinery and other equipment. As previously said, care must be taken to ensure that the assets do not expire simultaneously, thereby interrupting production. This can be accomplished by acquiring assets with varying useful lives, preventing their obsolescence at the same time. This will also assist the business maximize its return by maximizing the utilization of an asset when its productivity is high.

The chapter also discusses ways to attract and keep prospective consumers and employees before they become active, i.e., before they are attracted by competitors in the business. This is only possible if management is proactive enough to anticipate labor and products market movements. Staff with a strong understanding of forecasting procedures and high-quality forecasting equipment, such as computers and the appropriate software, can assist them in achieving this objective.

The chapter also discusses the long-term repercussions of strategic decisions made by the company. These effects might be either beneficial or bad. Among the actions that can have long-term favorable effects on the company are those involving cost reduction, which can easily force competitors out of the market, and research and development, which can take competitors many years to achieve. It could be a new product whose recipe is tough for other companies to replicate.

In addition, it examines the continuous contribution of departing individuals to the organization. This may involve advising current employees on circumstances they encountered while employed by the firm, should those situations reoccur. Regarding clients, they can promote the services through word-of-mouth to future customers, so increasing the organization's customer base and market share. This has been proven by prominent marketers to be the least expensive method of selling a company's services (Thomas 2003).

Lastly, there is a significant relationship between the business's strategy framework and resource development. This is because resource development is typically conducted in accordance with an organization's strategic objectives. This means that the resources are created so that they contribute to the organization's ability to achieve its business objectives (Zahid 2008).

Conclusion

In conclusion, resource development is a complicated problem that cannot be addressed by a single manager. To be successful, it involves the participation of all managers, or each department head and their subordinates. This is due to the fact that they are distinct inside the business and are located in separate departments. However, the resources are interdependent, and the failure of one resource impacts other aspects of the organization.

Bibliography

Daly, J., S. Fisher, & D. Jackson. (2004). Hotel management. Sydney: Jupiter printing company.

Fred, RD, "Strategic management" (2009, FGF Inc., California)

2005, Marketing services, Equator Limited, Nairobi. Garry, K.

Hoffman, K.D., and J.E.G. Bateson, Services Marketing: Concepts, Strategies, and Cases, 4th Edition, Dryden Press, Fort Worth, 2006.

Human resource development was published by Oxford University Press in 2007.

Omfwoko, L. (2003). Assets planning and acquisition. Cape Town: JPL.

Stingster, G 2009, Managing people.

Pricom, Chicago.

Hotel asset management and planning. FG&K, Pritoria, 2003. Thomas, H.

Warren, K. (2002). Competitive strategy dynamics. John Wiley, Chichester (England).

Introduction to Hotel Management, JN Singh, New Delhi, 2008.

[supanova question]

Volterman Smart Wallet: Strategic Marketing Plan English Essay Help Online

Executive Synopsis

The strategic marketing plan for the Volterman smart wallet focuses on using the company's limited resources to gain market dominance. The researcher utilized both primary and secondary data sources for this investigation. A sample of respondents was questioned to get primary data regarding their opinion of the product and its market significance. The secondary info was acquired from reputable books and online sources. The study demonstrates that the Volterman smart wallet was intended to satisfy the needs of customers. Its distinctive characteristics make it a market-leading product, which justifies its high price. However, the management must implement efficient strategic marketing plans to assure continued market success despite anticipated obstacles.

Introduction

The Volterman smart wallet is an innovative device that offers its users a one-of-a-kind experience. This product was conceived by Azat Tovmasyan in 2014, went through several stages of design and development, and was released for commercial sale in 2017. (Volterman Inc. 2019). This wallet's level of technology integration is unparalleled. According to the company's website, the capabilities of the Volterman smart wallet enable it to provide more services than a traditional wallet. In addition to housing credit cards, identification cards, and travel documents, this wallet may also be used as a power bank to charge mobile devices.

It has a system that notifies the owner when he or she leaves it anywhere, reducing the likelihood that it would become misplaced. Because it must roam Wi-Fi, its built-in camera can take an image of a thief who opens the wallet and send it directly to the owner (Turrell 2017). Its GPS enables accurate position identification in the event that it is lost or stolen. These distinctive features make this wallet a safety and security device. This innovative product covers the majority of wallet users' common issues.

Almost three million dollars have been spent producing this product. Even if it was released on online marketplaces such as Amazon.com and eBay, the management of this company faces a crucial phase of promoting the product not only in the United States but also on the international market. According to Morden (2016), designing a remarkable product is one thing, but commercializing it is something else entirely.

In this strategic marketing plan, the researcher intends to address the internal and external environmental aspects that will impact the product's success. When promoting this product, the firm must comprehend the nature of market rivalry, government laws, and other issues. In addition, the target market is described so that the company may understand how to create promotional messages with the desired impact on the market. The objective is to produce a document that will help the company increase the commercial success of the Volterman smart wallet.

Industry, Organizational Snapshot, and Situational Analysis

The smart wallet industry is a relatively new industry that is expanding rapidly due to new technologies. According to Turrell (2017), smart wallets provide additional functions than regular wallets. In addition to providing storage for cards and cash, it may also function as a power bank, a Wi-Fi device with roaming capabilities, and a GPS device. It indicates that this product competes directly with other products that are known to provide the aforementioned services independently. In this portion of the study, the researcher gives an overview of the industry, an overview of the company, a review of the competition, and a SWOT analysis to help understand the internal and external market factors that the company must manage to ensure the success of the Volterman smart wallet.

Industrial History

The industry for smart wallets is growing popularity in various regions of the world because to the unique services that these products provide to their users. Kumar and Mozar (2019, p. 67) define a smart wallet as "the smartphone-connected wallet that protects cash and credit & debit cards from theft, allows the user to track their wallet via GPS tracking, and includes Wi-Fi hotspot, thief detection camera, and other advanced features."

In current culture, when cards are used for the majority of transactions, traditional wallets remain significant. However, inventive companies must recognize that people will only continue to purchase this product if it offers other services. As noted by Jager and Sathe (2014), in a world where smartphones have become necessities, smart wallet users have learned that the best way to increase the value of this product is to make it relevant to smartphone users.

Size

According to a 2018 research by Venture Capital News Network, the scale of this industry is still quite tiny. Numerous companies have developed designer wallets to fit the needs of their clients, but for a product to be termed a smart wallet, it must possess the above-mentioned characteristics (roaming Wi-Fi, power bank that can be used to chart a smartphone, GPS, and an inbuilt camera that can help identify a thief). A comparatively small number of companies offer items that match these criteria. According to a 2018 analysis by Venture Capital News Network, the majority of these businesses are located in North America and Europe. A few more exist in the Far East, particularly in China and Japan. The majority of these businesses are small to medium-sized start-ups that are extremely innovative and focused on providing distinctive user experiences.

Growth

The smart wallet market is expanding rapidly and differentiating itself from the traditional wallet. Numerous businesses and innovators have been captivated by the concept of a wallet that may provide a wide variety of products. Ansoff (2016) emphasizes that while it may be difficult to pinpoint the exact originator of a concept, its proliferation in North America has been quick. Particularly, the United States has the greatest number of companies supplying these products on the market. This product has also been popular in Europe, particularly Germany, France, Italy, and the United Kingdom. The high pricing of this product, according to Jager and Sathe (2014), explains why it has maintained its popularity in the developed world.

Current trends

This product's evolution and popularity in the developed world have been shaped by current market trends. According to Küng-Shankleman (2016), despite a growing global population, the market for traditional wallets was dwindling because what many people consider irrelevant. Some companies' unique approach has made this product more relevant than it has ever been in the past. This product's compatibility with smartphones was influenced by the prevalence of mobile phones in contemporary life. .

According to Morden (2016), mobile phones have become a need for both adolescents and adults. With the addition of Wi-Fi and a power bank, this product became essential for smartphone users, especially when traveling. Current developments in this business indicate that this product may incorporate new features that serve additional uses.

Macro-environment aspects and issues

When evaluating the external environmental elements, Jager and Sathe (2014) indicate that it is essential to include external market forces that may have a direct or indirect effect on the operations of a business. It is essential to recognize that a company has no control over the timing of these factors or their potential effects on its operations. As a result, it is essential to devise a strategy that simultaneously protects the company from market risks and maximizes the potential it presents.

Using the PESTEL framework, the study will examine the impact of these macroenvironmental influences on the company's usual operations as it strives to promote its Volterman smart wallet. It is essential, when conducting this market analysis, to focus on its primary market, which is currently the United States.

The economic environment is one of the most important variables that this company's management must examine while planning its expansion strategy. The economic factors, according to Jager and Sathe (2014), determine the ability and willingness of individuals to spend their resources on particular things. The United States possesses the world's largest economy. With a population of over 300 million people with considerable spending power, the country is one of the most desirable marketplaces for companies selling luxury goods (Peppard & Ward 2016).

A conventional wallet that provides conventional services costs less than $10. Due to its unique functions, the average price of a Volterman smart wallet is $250. To purchase such an expensive item, one must have sufficient financial resources. Due of the robust purchasing power of the American populace, the product is affordable to the vast majority of employed men.

Küng-Shankleman (2016) indicates that during economic downturns, individuals tend to shun luxury purchases due to their diminished purchasing power.

The 2008 global economic recession had a profound impact on the United States.

Since then, the nation has enjoyed remarkable economic stability (Peppard & Ward 2016)

. The unemployment rate has also decreased throughout this period.

.

It indicates an increase in the number of individuals who can afford to acquire the goods. The company's globalization strategy includes the Kingdom of Saudi Arabia as one of its targeted Middle Eastern markets. Despite shifting international oil prices, the nation's economy has been expanding consistently. As the region's largest economy, Saudi Arabia offers an excellent opportunity for expansion.

The market's technological factors have a direct effect on Volterman smart wallet's potential to attain market success. The product is built on cutting-edge technologies. In an effort to differentiate their products from those of their competitors, various smart wallet businesses are redefining their products utilizing developing technology. Volterman has developed a new approach for its smart wallet that notifies its users when it has been forgotten.

This unusual design is intended to prevent the wallet from being easily misplaced or lost. Other businesses in this area are developing further distinctive characteristics for their products in order to increase their market competitiveness. According to Küng-Shankleman (2016), technology offers a business a unique potential to outperform competitors in the marketplace. When other product characteristics are comparable to those of competitors, it is essential for a company to employ technology to differentiate itself from the competition. .

In this technology-driven business, it is important for companies to anticipate emerging trends and modify their products to match client wants as effectively as feasible. According to Hill, Schilling, and Jones (2016), a company should be vigilant about monitoring disruptive technologies inside its business. In this industry, being an innovator may be the greatest option. The issue is that the price of innovation may be prohibitive in some cases.

As a result, early adopter has become the most common strategy for financially constrained but ambitious businesses eager to adopt new technology as soon as they appear on the market. Henry (2018) cautions that not all new technical ideas are suitable for a business. In order to prevent investing business resources and time on a potentially counterproductive effort, each initiative should be thoroughly evaluated prior to implementation.

The political climate of a country is another significant factor that influences a company's capacity to succeed in a given market. According to Hill et al. (2016), the political climate of a country can impact a company's operations in a variety of ways. First, the political stability of a country affects a company's capacity to function effectively in the market. It establishes the level of security for businesses and the capacity of individuals and organisations to adhere to the rule of law. The United States is one of the world's most politically stable nations. Over the past many decades, the transition from one regime to another has been calm, giving the country a peaceful market for businesses in various industries. It implies that the Volterman smart wallet will be successful on the market as a result of increased security and people's respect for the rule of law.

Political meddling is another common concern for businesses within a nation (Peppard & Ward 2016). In several communist nations, like China, Russia, North Korea, and Iran, government officials have the authority to halt business operations whenever they deem it necessary. In contrast, this is not true in the United States. Political leaders are required to adhere to the rule of law and have no authority to meddle with the operations of a business. In the event that the company decides to expand its activities to the Kingdom of Saudi Arabia, it may not be affected by political instability. In addition, the government has enacted regulations that restrict the capacity of political leaders to make decisions that may negatively impact foreign investors.

Legal and regulatory rules have a substantial impact on a company's usual operations. According to Patabendige (2018), the government is responsible for establishing policies that define how a business interacts with its customers, suppliers, competitors, public institutions, and the general public. The management of this organization is responsible for ensuring that its operations adhere to these policies. The Volterman smart wallet is an innovative device that is gaining popularity rapidly on the local market. The company's marketing plan is one of the regulations it must comply with. The United States Federal Trade Commission was founded primarily to combat misleading tactics on the local market (Kwoka 2015).

Advertising is one of the topics regulated by this organization. Companies are expected to be truthful in their advertising and to refrain from making false claims about their products. It implies that care must be exercised when promoting the Volterman smart wallet to avoid misrepresentation. The management of this company must also recognize that there are regulations that stipulate how it must interact with all key stakeholders.

It must fulfill its duties to its customers and suppliers within the stipulated time frame. It must also adhere to its commitments to the government, such as timely tax payment. It is possible that the legal environment in the Kingdom of Saudi Arabia differs from that of the United States, yet this difference may not have harmful consequences. The management of this firm will need to register this firm in the country and observe existing laws to avoid litigation.

Social and cultural factors also play a critical role in the success of a firm within the market.

Volterman Smart Wallet: Strategic Marketing Plan English Essay Help Online

Executive Synopsis

The strategic marketing plan for the Volterman smart wallet focuses on using the company's limited resources to gain market dominance. The researcher utilized both primary and secondary data sources for this investigation. A sample of respondents was questioned to get primary data regarding their opinion of the product and its market significance. The secondary info was acquired from reputable books and online sources. The study demonstrates that the Volterman smart wallet was intended to satisfy the needs of customers. Its distinctive characteristics make it a market-leading product, which justifies its high price. However, the management must implement efficient strategic marketing plans to assure continued market success despite anticipated obstacles.

Introduction

The Volterman smart wallet is an innovative device that offers its users a one-of-a-kind experience. This product was conceived by Azat Tovmasyan in 2014, went through several stages of design and development, and was released for commercial sale in 2017. (Volterman Inc. 2019). This wallet's level of technology integration is unparalleled. According to the company's website, the capabilities of the Volterman smart wallet enable it to provide more services than a traditional wallet. In addition to housing credit cards, identification cards, and travel documents, this wallet may also be used as a power bank to charge mobile devices.

It has a system that notifies the owner when he or she leaves it anywhere, reducing the likelihood that it would become misplaced. Because it must roam Wi-Fi, its built-in camera can take an image of a thief who opens the wallet and send it directly to the owner (Turrell 2017). Its GPS enables accurate position identification in the event that it is lost or stolen. These distinctive features make this wallet a safety and security device. This innovative product covers the majority of wallet users' common issues.

Almost three million dollars have been spent producing this product. Even if it was released on online marketplaces such as Amazon.com and eBay, the management of this company faces a crucial phase of promoting the product not only in the United States but also on the international market. According to Morden (2016), designing a remarkable product is one thing, but commercializing it is something else entirely.

In this strategic marketing plan, the researcher intends to address the internal and external environmental aspects that will impact the product's success. When promoting this product, the firm must comprehend the nature of market rivalry, government laws, and other issues. In addition, the target market is described so that the company may understand how to create promotional messages with the desired impact on the market. The objective is to produce a document that will help the company increase the commercial success of the Volterman smart wallet.

Industry, Organizational Snapshot, and Situational Analysis

The smart wallet industry is a relatively new industry that is expanding rapidly due to new technologies. According to Turrell (2017), smart wallets provide additional functions than regular wallets. In addition to providing storage for cards and cash, it may also function as a power bank, a Wi-Fi device with roaming capabilities, and a GPS device. It indicates that this product competes directly with other products that are known to provide the aforementioned services independently. In this portion of the study, the researcher gives an overview of the industry, an overview of the company, a review of the competition, and a SWOT analysis to help understand the internal and external market factors that the company must manage to ensure the success of the Volterman smart wallet.

Industrial History

The industry for smart wallets is growing popularity in various regions of the world because to the unique services that these products provide to their users. Kumar and Mozar (2019, p. 67) define a smart wallet as "the smartphone-connected wallet that protects cash and credit & debit cards from theft, allows the user to track their wallet via GPS tracking, and includes Wi-Fi hotspot, thief detection camera, and other advanced features."

In current culture, when cards are used for the majority of transactions, traditional wallets remain significant. However, inventive companies must recognize that people will only continue to purchase this product if it offers other services. As noted by Jager and Sathe (2014), in a world where smartphones have become necessities, smart wallet users have learned that the best way to increase the value of this product is to make it relevant to smartphone users.

Size

According to a 2018 research by Venture Capital News Network, the scale of this industry is still quite tiny. Numerous companies have developed designer wallets to fit the needs of their clients, but for a product to be termed a smart wallet, it must possess the above-mentioned characteristics (roaming Wi-Fi, power bank that can be used to chart a smartphone, GPS, and an inbuilt camera that can help identify a thief). A comparatively small number of companies offer items that match these criteria. According to a 2018 analysis by Venture Capital News Network, the majority of these businesses are located in North America and Europe. A few more exist in the Far East, particularly in China and Japan. The majority of these businesses are small to medium-sized start-ups that are extremely innovative and focused on providing distinctive user experiences.

Growth

The smart wallet market is expanding rapidly and differentiating itself from the traditional wallet. Numerous businesses and innovators have been captivated by the concept of a wallet that may provide a wide variety of products. Ansoff (2016) emphasizes that while it may be difficult to pinpoint the exact originator of a concept, its proliferation in North America has been quick. Particularly, the United States has the greatest number of companies supplying these products on the market. This product has also been popular in Europe, particularly Germany, France, Italy, and the United Kingdom. The high pricing of this product, according to Jager and Sathe (2014), explains why it has maintained its popularity in the developed world.

Current trends

This product's evolution and popularity in the developed world have been shaped by current market trends. According to Küng-Shankleman (2016), despite a growing global population, the market for traditional wallets was dwindling because what many people consider irrelevant. Some companies' unique approach has made this product more relevant than it has ever been in the past. This product's compatibility with smartphones was influenced by the prevalence of mobile phones in contemporary life. .

According to Morden (2016), mobile phones have become a need for both adolescents and adults. With the addition of Wi-Fi and a power bank, this product became essential for smartphone users, especially when traveling. Current developments in this business indicate that this product may incorporate new features that serve additional uses.

Macro-environment aspects and issues

When evaluating the external environmental elements, Jager and Sathe (2014) indicate that it is essential to include external market forces that may have a direct or indirect effect on the operations of a business. It is essential to recognize that a company has no control over the timing of these factors or their potential effects on its operations. As a result, it is essential to devise a strategy that simultaneously protects the company from market risks and maximizes the potential it presents.

Using the PESTEL framework, the study will examine the impact of these macroenvironmental influences on the company's usual operations as it strives to promote its Volterman smart wallet. It is essential, when conducting this market analysis, to focus on its primary market, which is currently the United States.

The economic environment is one of the most important variables that this company's management must examine while planning its expansion strategy. The economic factors, according to Jager and Sathe (2014), determine the ability and willingness of individuals to spend their resources on particular things. The United States possesses the world's largest economy. With a population of over 300 million people with considerable spending power, the country is one of the most desirable marketplaces for companies selling luxury goods (Peppard & Ward 2016).

A conventional wallet that provides conventional services costs less than $10. Due to its unique functions, the average price of a Volterman smart wallet is $250. To purchase such an expensive item, one must have sufficient financial resources. Due of the robust purchasing power of the American populace, the product is affordable to the vast majority of employed men.

Küng-Shankleman (2016) indicates that during economic downturns, individuals tend to shun luxury purchases due to their diminished purchasing power.

The 2008 global economic recession had a profound impact on the United States.

Since then, the nation has enjoyed remarkable economic stability (Peppard & Ward 2016)

. The unemployment rate has also decreased throughout this period.

.

It indicates an increase in the number of individuals who can afford to acquire the goods. The company's globalization strategy includes the Kingdom of Saudi Arabia as one of its targeted Middle Eastern markets. Despite shifting international oil prices, the nation's economy has been expanding consistently. As the region's largest economy, Saudi Arabia offers an excellent opportunity for expansion.

The market's technological factors have a direct effect on Volterman smart wallet's potential to attain market success. The product is built on cutting-edge technologies. In an effort to differentiate their products from those of their competitors, various smart wallet businesses are redefining their products utilizing developing technology. Volterman has developed a new approach for its smart wallet that notifies its users when it has been forgotten.

This unusual design is intended to prevent the wallet from being easily misplaced or lost. Other businesses in this area are developing further distinctive characteristics for their products in order to increase their market competitiveness. According to Küng-Shankleman (2016), technology offers a business a unique potential to outperform competitors in the marketplace. When other product characteristics are comparable to those of competitors, it is essential for a company to employ technology to differentiate itself from the competition. .

In this technology-driven business, it is important for companies to anticipate emerging trends and modify their products to match client wants as effectively as feasible. According to Hill, Schilling, and Jones (2016), a company should be vigilant about monitoring disruptive technologies inside its business. In this industry, being an innovator may be the greatest option. The issue is that the price of innovation may be prohibitive in some cases.

As a result, early adopter has become the most common strategy for financially constrained but ambitious businesses eager to adopt new technology as soon as they appear on the market. Henry (2018) cautions that not all new technical ideas are suitable for a business. In order to prevent investing business resources and time on a potentially counterproductive effort, each initiative should be thoroughly evaluated prior to implementation.

The political climate of a country is another significant factor that influences a company's capacity to succeed in a given market. According to Hill et al. (2016), the political climate of a country can impact a company's operations in a variety of ways. First, the political stability of a country affects a company's capacity to function effectively in the market. It establishes the level of security for businesses and the capacity of individuals and organisations to adhere to the rule of law. The United States is one of the world's most politically stable nations. Over the past many decades, the transition from one regime to another has been calm, giving the country a peaceful market for businesses in various industries. It implies that the Volterman smart wallet will be successful on the market as a result of increased security and people's respect for the rule of law.

Political meddling is another common concern for businesses within a nation (Peppard & Ward 2016). In several communist nations, like China, Russia, North Korea, and Iran, government officials have the authority to halt business operations whenever they deem it necessary. In contrast, this is not true in the United States. Political leaders are required to adhere to the rule of law and have no authority to meddle with the operations of a business. In the event that the company decides to expand its activities to the Kingdom of Saudi Arabia, it may not be affected by political instability. In addition, the government has enacted regulations that restrict the capacity of political leaders to make decisions that may negatively impact foreign investors.

Legal and regulatory rules have a substantial impact on a company's usual operations. According to Patabendige (2018), the government is responsible for establishing policies that define how a business interacts with its customers, suppliers, competitors, public institutions, and the general public. The management of this organization is responsible for ensuring that its operations adhere to these policies. The Volterman smart wallet is an innovative device that is gaining popularity rapidly on the local market. The company's marketing plan is one of the regulations it must comply with. The United States Federal Trade Commission was founded primarily to combat misleading tactics on the local market (Kwoka 2015).

Advertising is one of the topics regulated by this organization. Companies are expected to be truthful in their advertising and to refrain from making false claims about their products. It implies that care must be exercised when promoting the Volterman smart wallet to avoid misrepresentation. The management of this company must also recognize that there are regulations that stipulate how it must interact with all key stakeholders.

It must fulfill its duties to its customers and suppliers within the stipulated time frame. It must also adhere to its commitments to the government, such as timely tax payment. It is possible that the legal environment in the Kingdom of Saudi Arabia differs from that of the United States, yet this difference may not have harmful consequences. The management of this firm will need to register this firm in the country and observe existing laws to avoid litigation.

Social and cultural factors also play a critical role in the success of a firm within the market.

Organizational Behavior In Chipotle: General Analysis And Recommendations English Essay Help Online

Table of Contents
Case Overview Problem Identification Analysis Objectives and Goals Case Study of Employee Motivation: Theoretical Context Recommendations Conclusion Bibliography

Case Overview

Chipotle Mexican Grill, Inc. (Chipotle) is an American chain of fast-casual restaurants. It was launched in 1993 by Steve Ells as a brand that prioritizes food quality and superior customer experiences (Qumer and Purkayastha 1). Currently, the success of Chipotle is attributed to its unique food culture. However, Chipotle's outstanding performance is also due to a well-developed staff culture and intelligent labor management decisions.

The organization is people-focused and makes significant efforts to foster a supportive work environment in which everyone feels valued. In addition, the management has built a unique structure for employee development that recognizes top performers and prepares them for future leadership responsibilities. Chipotle also offers its employees excellent opportunity to earn a high wage based on the quality of their performance, while the company's list of non-financial incentives includes wellness programs and technology support for managers (Qumer and Purkayastha 7).

Chipotle believes that its people-focused culture is the primary reason it has been able to reduce staff turnover and training expenses, as well as enhance worker motivation, loyalty, and productivity.

Identified Issue

However, not all Chipotle employees are as satisfied with their jobs as the company's management claims. Some Chipotle team members complained about the highly stressful and fast-paced work atmosphere, poor work-life balance, unpaid overtime work, and even intolerable physical workplace conditions (Qumer and Purkayastha 8). Significant worry is raised by employees' negative assessments of Chipotle's culture and overall atmosphere. While the firm intends to grow in the future, the frequency of such unfavorable employee encounters may increase, making it more challenging to maintain Chipotle's unique and happy culture.

Analyze Purposes and Objectives

In light of the aforementioned problem that the restaurant chain is currently facing, this report will examine the significance of employee motivation, evaluate the value and efficacy of the employee motivation methods that Chipotle currently employs, and discuss various methods that can be used to increase worker job satisfaction. The purpose of this article is to demonstrate, using the corporation as an example, how the satisfaction of various employee demands translates into a higher level of employee motivation and more positive organizational behaviors. In addition, it will examine the extent to which different organizational characteristics might inspire individuals to be engaged and productive at work. The principles of Maslow's Hierarchy of Needs and Herzberg's Two-Factor Theory will be used to guide the analysis.

Employee Motivation: Conceptual Framework

Motivation is a complex topic, yet it may be defined simply as the force that motivates humans to achieve specific aims and goals. As a result, each individual's motivation depends on his or her unique qualities and personality traits. Nonetheless, numerous theories and models have been established to explain this phenomenon and identify the elements that either raise or diminish one's willingness to act and commit to specific activities.

The Maslow's Hierarchy of Needs is one of the most well-known motivation theories now in use. Its premise is that "people always tend to want something, and what they want depends on what they already possess" (Haque et al. 63). Maslow distinguished five distinct levels of human needs in accordance with this theory: physiological, safety, social, esteem, and self-actualization (Haque et al. 63). Food, shelter, and clothes are examples of physiologic demands, which are basic to every individual (Haque et al. 63). If one cannot meet their demands, his or her own existence may be threatened. Therefore, when there is a lack of food and other essentials, individuals are typically preoccupied with finding ways to alleviate their hunger, thirst, cold, etc., rather than focusing on achieving something higher.

When a person's basic requirements are satisfied, they ascend the hierarchy. The second level, safety, relates to a sense of security in one's family, community, and society as a whole; protection from violence; job security; financial stability; and access to basic services such as education and healthcare (Haque et al. 63). There are then more evolved demands for belonging and affection, which suggest opportunities to form meaningful, trustworthy, and close connections with others (Haque et al. 63).

The fourth-level need, esteem, implies that every individual whose lower-level wants are met desires self-respect and acknowledgement based on their accomplishments (Haque et al. 63). According to Haque et al., incapacity to meet these demands always leads to feelings of inadequacy, helplessness, and psychological frailty (63). Maslow places self-actualization at the apex of his hierarchy, signifying complete self-fulfillment and actualization of one's full potential (Haque et al. 63). At this ultimate stage, a person becomes adept at living in accordance with his or her interests, innate tendencies, and desires.

To achieve the highest level of self-satisfaction, according to Maslow's Wants Theory, one must satisfy all lower-ranking needs first. However, Maslow observed that "a person can be partially satisfied with one level and still seek satisfaction at a higher level" (Haque et al. 64). This remark emphasizes that the components that define motivation might differ significantly from one individual to the next, which managers must consider when putting this theory into reality.

However, the most important thing to realize is that discontent with anything constantly produces a sensation of restlessness and psychological/physical discomfort, which encourages one to act accordingly. Managers can use this discontent to motivate subordinates to adopt actions that will benefit the organization by giving them with opportunities to meet different levels of requirements.

In addition to Maslow's Hierarchy of Needs, managers and leaders may find it valuable to get familiar with Herzberg's Two-Factor Theory, as it enhances the understanding of employee motivation. Maslow suggested that elements that contribute to job happiness are "the opposite of those that contribute to job dissatisfaction." Herzberg's thoughts contradict this notion (Haque et al. 64). The former theory concluded that what makes people happy are primarily the features of the activities they engage in and how they engage in them, whereas what makes them unhappy is how they are treated (Haque et al. 64). Herzberg differentiated two distinct sorts of factors based on this observation: intrinsic or motivators and extrinsic or hygienic elements.

The first group consists of accomplishment, recognition, the nature of the work, responsibility, and opportunities for advancement, while the second group consists of organizational structure, culture, policies, overall work conditions, work-life balance, compensation, and other company-related factors (Haque et al. 64-65). According to the theoretician, manipulations with sanitary variables cannot be used to inspire employees, but rather to prevent unhappiness (Haque et al. 64).

However, if extrinsic reasons are unsatisfactory, the organization cannot encourage employee motivation (Haque et al. 64). Thus, only intrinsic feelings and ambitions may be targeted by managers in order to increase employee engagement and productivity. Before building a proper motivating system, however, firms must ensure that their internal settings make subordinates feel pleased and secure. The combination of Herzberg's theory and Maslow's Hierarchy of Needs can help effectively evaluate the strengths and weaknesses of Chipotle's culture in terms of its ability to motivate employees and explain what has gone wrong in the company and what should be avoided in the future.

Case Analysis

It appears that the restaurant's existing employee culture and motivation system, as intended and perceived by the company's managers, enable workers to achieve their various levels of requirements, from the most basic to the most self-actualizing. First, compared to other fast-food restaurants, salaries at Chipotle are higher at all organizational levels than the average for the industry. The least reported mean wage of a Chipotle employee is $21,000, while the maximum recorded mean wage is $106,000. (Qumer and Purkayastha 5). Clearly, even the lowest of the identified amounts is sufficient to meet a person's physiological needs, whereas higher wages also promote a greater sense of security because they facilitate professionals' access to healthcare, housing, and other essential sources and services that provide a sense of safety.

It is also true that Chipotle's culture and surroundings enable employees to fulfill their need for love and belonging. As part of the Restaurateur program designed to empower and promote Chipotle's finest employees, for instance, team members are expected to closely cooperate and mentor their peers (Qumer and Purkayastha 7). According to Eller et al., mentoring entails not only the transfer of knowledge but also the creation of loving relationships and open, courteous, and trustworthy communication (815).

It implies that Chipotle's employees have the opportunity to feel valued as both professionals and individuals at work. In addition, Qumer and Purkayastha claimed that Chipotle seeks to hire individuals with a love for cuisine and customer service and pays close attention to how candidates' characteristics align with the restaurant's purpose, vision, and core values (5). Personality-wise, Chipotle's teams are composed of individuals who are similar and compatible, so they may establish a strong sense of belonging to both their coworkers and the organization as a whole.

According to Herzberg's theory, the aforementioned ambient elements belong to the category of hygienic factors and, as such, Chipotle utilizes them to increase job satisfaction. In firms defined by poor work relationships and a high conflict rate, for instance, subordinates face a higher risk of mental health issues, and as a result, their motivation and performance decrease (Abun et al. 75279). In addition, Mabaso and Dlamini's study found that pay level is positively connected with employee satisfaction and influences such outcomes as work interest, professional development, motivation, overall performance, and employee turnover (81).

These findings explain why Chipotle employees who took advantage of the opportunity to enhance their compensation tended to be loyal to the company and strive for job excellence. This research also clarifies why some Chipotle employees who felt underpaid for their effort were severely dissatisfied with their jobs and lacked organizational loyalty.

It is pertinent to note that other Chipotle employee complaints, such as a lack of work-life balance and overly stressful working conditions, have a negative effect on subordinates' mental health and instill a sense of psychological insecurity, which inevitably translates into decreased morale and productivity (Brooks). According to Maslow's Hierarchy, the need for security is one of the fundamental human interests. When a person's expectations are not met in a given scenario or employment, he or she will eventually strive to find a more rewarding alternative.

In unfavorable conditions such as these, Chipotle was harmed by employees' innate desire to satisfy their basic necessities. While the company professes to assist its employees and give them with different options for growth, in this instance it has neglected to take into account the fact that lower-ranking interests must also be considered in efforts to increase employee engagement. The investigation of complaints regarding bad work conditions at Chipotle also confirms the key tenet of Herzberg's theory: it is impossible to encourage people to perform well and maintain their commitment in unsatisfactory circumstances.

However, the latter theory also implies that such extrinsic elements as salary and work environment contribute only partially to one's motivation, and to understand what motivates employee behavior, it is necessary to examine intrinsic motivators more deeply.

Such intrinsic motivation variables as acknowledgment, accomplishment, and type of work (its appeal to an individual) correspond to Maslow's hierarchy's higher-order goals for esteem and self-actualization. The application of these structures to Chipotle's employee motivation system demonstrates that the company's Restaurateur program, an internal employee promotion scheme, directly targets these employees. This program links key performance indicators, such as quality and productivity, to specific professional development and growth possibilities.

For example, to succeed in their careers, staff must not only develop their cooking and hospitality talents, but also their mentorship and leadership abilities (Qumer and Purkayastha 7). A worker's prospects of earning larger monetary and non-monetary rewards and enhancing his/her professional standing increase as he/she develops each of these skills over the various phases of the program. It indicates that Chipotle combines the requirements of individuals for prestige and a sense of success with its own strategic objectives and objectives.

However, it is reasonable to assume that this employee development program is effective only for those with a strong desire to advance in the field of management and the food business as a whole, or for those who seek financial security. When a person has a passion for a certain activity, it becomes a significant part of his or her identity, and he or she is willing to devote more time and energy to achieving success in the sector of personal interest (Spehar et al. 17).

Thus, a natural tendency toward particular performance areas may be viewed as one of the fundamental requirements for long-term motivation and job retention. Notablely, Chipotle asserts that it only hires individuals who are genuinely passionate in food and customer service, and that it terminates employees who lack enthusiasm for their work (Qumer and Purkayastha 5). However, it is unlikely that such a high recruitment level be maintained across all of the company's sites. In addition, one could argue that the number of participants qualified for the Restaurateur program is relatively small. Thus, the professional development program of the company does not equally benefit all of its employees.

Recommendations

The investigation indicated that Chipotle has a strong employee culture. It is evident that the company makes great efforts to improve employee motivation. Nonetheless, in order to develop further, decrease HR expenses, maximize economic growth, and prevent any negative incidents during expansion, the restaurant's management must answer all employee complaints.

First, pay must not just be competitive and based on performance, but also fair. When subordinates are appropriately compensated for their extra efforts, they acquire greater trust in their employers and a sense that their interests do not clash with those of the business, so enhancing both job satisfaction and motivation (Falk 2). Second, it is crucial to ensure that work settings are safe in a variety of other ways, particularly in terms of stress exposure and work-life balance. Therefore, Chipotle must investigate ways to lower workloads and vary jobs so that employees do not have to compromise personal interests and time or feel bored and inadequate at work.

Inasmuch as not every Chipotle employee will have a genuine passion in the culinary sector, the latter two characteristics are especially crucial (which the company is recommended to acknowledge as well). Therefore, management should design and implement an alternate employee motivation program geared at developing and recognizing the efforts of individuals who may not otherwise be eligible to become restaurateurs. On the basis of the studied motivational theories, it is plausible to assert that this can be accomplished by giving workers with more meaningful duties and greater autonomy, engaging them in more diversified activities, and encouraging their advancement to non-managerial positions.

Conclusion

Employees are among a company's most valuable assets; thus, executives must make every effort to improve their working conditions and ensure that their employees are content with their jobs. Employee job satisfaction can be increased by providing a safe and supportive organizational environment, monetary and non-monetary incentives and rewards, recognition, a fair compensation, opportunity for professional and personal growth, training, and other similar initiatives. Nonetheless, these workforce management initiatives do not exist solely for the satisfaction of employees; they also assist businesses in achieving their strategic objectives.

As demonstrated by the examination of Chipotle's work culture, dissatisfied employees typically create subpar outcomes, whereas satisfied teams tend to be more motivated and exhibit favorable organizational behaviors. It implies that improving organizational performance requires addressing the issue of employee satisfaction, ensuring that lower-priority worker requirements are adequately satisfied, and providing ample opportunity for everyone to be acknowledged for their contributions and reach their full potential.

Sources Cited

"Measuring Workplace Relationship and Job Satisfaction of Divine Word Colleges Employees in Ilocos Region, Philippines." Abun, Damianus, et al. The International Journal of Current Research, volume 10, issue 1, pages 75279 to 75286.

Why Psychological Safety Is the Key to High-Performing Teams, by Ross Brooks Peakon. 2018. Web.

Key Components of an Effective Mentoring Relationship: A Qualitative Study. Eller, Lucille Sanzero, et al. Nurse Education Today, volume 34, issue 5, pages 815–820, 2014.

Falk, Armin. "Fairness and Motivation: Fair Treatment Creates Incentives and Benefits Employees and the Organization." 2014 IZA World of Labor, no. 9, pp. 1-10.

Haque, Mohammad Faizul, et al. "A Critical Analysis of Motivational Theories." 2014 ASA University Review, volume 8, number 1, pages 61-68.

Impact of Compensation and Benefits on Job Satisfaction, Mabaso, Calvin Mzwenhlanhla, and Bongani Innocent Dlamini, 2004. Research Journal of Business Management, 11(2), pages 80-90, 2017.

Qumer, Syeda, and Debapratim Purkayastha. Initiatives for Career Development and Employee Motivation at Chipotle. 2015, INS Center for Management Research

"Passion for Work, Job Satisfaction, and the Mediating Role of Belongingness," by Ivan Spehar et al. 2016 edition of the Scandinavian Journal of Work and Organizational Psychology, pages 17-26.

[supanova question]

Organizational Behavior In Chipotle: General Analysis And Recommendations English Essay Help Online

Table of Contents
Case Overview Problem Identification Analysis Objectives and Goals Case Study of Employee Motivation: Theoretical Context Recommendations Conclusion Bibliography

Case Overview

Chipotle Mexican Grill, Inc. (Chipotle) is an American chain of fast-casual restaurants. It was launched in 1993 by Steve Ells as a brand that prioritizes food quality and superior customer experiences (Qumer and Purkayastha 1). Currently, the success of Chipotle is attributed to its unique food culture. However, Chipotle's outstanding performance is also due to a well-developed staff culture and intelligent labor management decisions.

The organization is people-focused and makes significant efforts to foster a supportive work environment in which everyone feels valued. In addition, the management has built a unique structure for employee development that recognizes top performers and prepares them for future leadership responsibilities. Chipotle also offers its employees excellent opportunity to earn a high wage based on the quality of their performance, while the company's list of non-financial incentives includes wellness programs and technology support for managers (Qumer and Purkayastha 7).

Chipotle believes that its people-focused culture is the primary reason it has been able to reduce staff turnover and training expenses, as well as enhance worker motivation, loyalty, and productivity.

Identified Issue

However, not all Chipotle employees are as satisfied with their jobs as the company's management claims. Some Chipotle team members complained about the highly stressful and fast-paced work atmosphere, poor work-life balance, unpaid overtime work, and even intolerable physical workplace conditions (Qumer and Purkayastha 8). Significant worry is raised by employees' negative assessments of Chipotle's culture and overall atmosphere. While the firm intends to grow in the future, the frequency of such unfavorable employee encounters may increase, making it more challenging to maintain Chipotle's unique and happy culture.

Analyze Purposes and Objectives

In light of the aforementioned problem that the restaurant chain is currently facing, this report will examine the significance of employee motivation, evaluate the value and efficacy of the employee motivation methods that Chipotle currently employs, and discuss various methods that can be used to increase worker job satisfaction. The purpose of this article is to demonstrate, using the corporation as an example, how the satisfaction of various employee demands translates into a higher level of employee motivation and more positive organizational behaviors. In addition, it will examine the extent to which different organizational characteristics might inspire individuals to be engaged and productive at work. The principles of Maslow's Hierarchy of Needs and Herzberg's Two-Factor Theory will be used to guide the analysis.

Employee Motivation: Conceptual Framework

Motivation is a complex topic, yet it may be defined simply as the force that motivates humans to achieve specific aims and goals. As a result, each individual's motivation depends on his or her unique qualities and personality traits. Nonetheless, numerous theories and models have been established to explain this phenomenon and identify the elements that either raise or diminish one's willingness to act and commit to specific activities.

The Maslow's Hierarchy of Needs is one of the most well-known motivation theories now in use. Its premise is that "people always tend to want something, and what they want depends on what they already possess" (Haque et al. 63). Maslow distinguished five distinct levels of human needs in accordance with this theory: physiological, safety, social, esteem, and self-actualization (Haque et al. 63). Food, shelter, and clothes are examples of physiologic demands, which are basic to every individual (Haque et al. 63). If one cannot meet their demands, his or her own existence may be threatened. Therefore, when there is a lack of food and other essentials, individuals are typically preoccupied with finding ways to alleviate their hunger, thirst, cold, etc., rather than focusing on achieving something higher.

When a person's basic requirements are satisfied, they ascend the hierarchy. The second level, safety, relates to a sense of security in one's family, community, and society as a whole; protection from violence; job security; financial stability; and access to basic services such as education and healthcare (Haque et al. 63). There are then more evolved demands for belonging and affection, which suggest opportunities to form meaningful, trustworthy, and close connections with others (Haque et al. 63).

The fourth-level need, esteem, implies that every individual whose lower-level wants are met desires self-respect and acknowledgement based on their accomplishments (Haque et al. 63). According to Haque et al., incapacity to meet these demands always leads to feelings of inadequacy, helplessness, and psychological frailty (63). Maslow places self-actualization at the apex of his hierarchy, signifying complete self-fulfillment and actualization of one's full potential (Haque et al. 63). At this ultimate stage, a person becomes adept at living in accordance with his or her interests, innate tendencies, and desires.

To achieve the highest level of self-satisfaction, according to Maslow's Wants Theory, one must satisfy all lower-ranking needs first. However, Maslow observed that "a person can be partially satisfied with one level and still seek satisfaction at a higher level" (Haque et al. 64). This remark emphasizes that the components that define motivation might differ significantly from one individual to the next, which managers must consider when putting this theory into reality.

However, the most important thing to realize is that discontent with anything constantly produces a sensation of restlessness and psychological/physical discomfort, which encourages one to act accordingly. Managers can use this discontent to motivate subordinates to adopt actions that will benefit the organization by giving them with opportunities to meet different levels of requirements.

In addition to Maslow's Hierarchy of Needs, managers and leaders may find it valuable to get familiar with Herzberg's Two-Factor Theory, as it enhances the understanding of employee motivation. Maslow suggested that elements that contribute to job happiness are "the opposite of those that contribute to job dissatisfaction." Herzberg's thoughts contradict this notion (Haque et al. 64). The former theory concluded that what makes people happy are primarily the features of the activities they engage in and how they engage in them, whereas what makes them unhappy is how they are treated (Haque et al. 64). Herzberg differentiated two distinct sorts of factors based on this observation: intrinsic or motivators and extrinsic or hygienic elements.

The first group consists of accomplishment, recognition, the nature of the work, responsibility, and opportunities for advancement, while the second group consists of organizational structure, culture, policies, overall work conditions, work-life balance, compensation, and other company-related factors (Haque et al. 64-65). According to the theoretician, manipulations with sanitary variables cannot be used to inspire employees, but rather to prevent unhappiness (Haque et al. 64).

However, if extrinsic reasons are unsatisfactory, the organization cannot encourage employee motivation (Haque et al. 64). Thus, only intrinsic feelings and ambitions may be targeted by managers in order to increase employee engagement and productivity. Before building a proper motivating system, however, firms must ensure that their internal settings make subordinates feel pleased and secure. The combination of Herzberg's theory and Maslow's Hierarchy of Needs can help effectively evaluate the strengths and weaknesses of Chipotle's culture in terms of its ability to motivate employees and explain what has gone wrong in the company and what should be avoided in the future.

Case Analysis

It appears that the restaurant's existing employee culture and motivation system, as intended and perceived by the company's managers, enable workers to achieve their various levels of requirements, from the most basic to the most self-actualizing. First, compared to other fast-food restaurants, salaries at Chipotle are higher at all organizational levels than the average for the industry. The least reported mean wage of a Chipotle employee is $21,000, while the maximum recorded mean wage is $106,000. (Qumer and Purkayastha 5). Clearly, even the lowest of the identified amounts is sufficient to meet a person's physiological needs, whereas higher wages also promote a greater sense of security because they facilitate professionals' access to healthcare, housing, and other essential sources and services that provide a sense of safety.

It is also true that Chipotle's culture and surroundings enable employees to fulfill their need for love and belonging. As part of the Restaurateur program designed to empower and promote Chipotle's finest employees, for instance, team members are expected to closely cooperate and mentor their peers (Qumer and Purkayastha 7). According to Eller et al., mentoring entails not only the transfer of knowledge but also the creation of loving relationships and open, courteous, and trustworthy communication (815).

It implies that Chipotle's employees have the opportunity to feel valued as both professionals and individuals at work. In addition, Qumer and Purkayastha claimed that Chipotle seeks to hire individuals with a love for cuisine and customer service and pays close attention to how candidates' characteristics align with the restaurant's purpose, vision, and core values (5). Personality-wise, Chipotle's teams are composed of individuals who are similar and compatible, so they may establish a strong sense of belonging to both their coworkers and the organization as a whole.

According to Herzberg's theory, the aforementioned ambient elements belong to the category of hygienic factors and, as such, Chipotle utilizes them to increase job satisfaction. In firms defined by poor work relationships and a high conflict rate, for instance, subordinates face a higher risk of mental health issues, and as a result, their motivation and performance decrease (Abun et al. 75279). In addition, Mabaso and Dlamini's study found that pay level is positively connected with employee satisfaction and influences such outcomes as work interest, professional development, motivation, overall performance, and employee turnover (81).

These findings explain why Chipotle employees who took advantage of the opportunity to enhance their compensation tended to be loyal to the company and strive for job excellence. This research also clarifies why some Chipotle employees who felt underpaid for their effort were severely dissatisfied with their jobs and lacked organizational loyalty.

It is pertinent to note that other Chipotle employee complaints, such as a lack of work-life balance and overly stressful working conditions, have a negative effect on subordinates' mental health and instill a sense of psychological insecurity, which inevitably translates into decreased morale and productivity (Brooks). According to Maslow's Hierarchy, the need for security is one of the fundamental human interests. When a person's expectations are not met in a given scenario or employment, he or she will eventually strive to find a more rewarding alternative.

In unfavorable conditions such as these, Chipotle was harmed by employees' innate desire to satisfy their basic necessities. While the company professes to assist its employees and give them with different options for growth, in this instance it has neglected to take into account the fact that lower-ranking interests must also be considered in efforts to increase employee engagement. The investigation of complaints regarding bad work conditions at Chipotle also confirms the key tenet of Herzberg's theory: it is impossible to encourage people to perform well and maintain their commitment in unsatisfactory circumstances.

However, the latter theory also implies that such extrinsic elements as salary and work environment contribute only partially to one's motivation, and to understand what motivates employee behavior, it is necessary to examine intrinsic motivators more deeply.

Such intrinsic motivation variables as acknowledgment, accomplishment, and type of work (its appeal to an individual) correspond to Maslow's hierarchy's higher-order goals for esteem and self-actualization. The application of these structures to Chipotle's employee motivation system demonstrates that the company's Restaurateur program, an internal employee promotion scheme, directly targets these employees. This program links key performance indicators, such as quality and productivity, to specific professional development and growth possibilities.

For example, to succeed in their careers, staff must not only develop their cooking and hospitality talents, but also their mentorship and leadership abilities (Qumer and Purkayastha 7). A worker's prospects of earning larger monetary and non-monetary rewards and enhancing his/her professional standing increase as he/she develops each of these skills over the various phases of the program. It indicates that Chipotle combines the requirements of individuals for prestige and a sense of success with its own strategic objectives and objectives.

However, it is reasonable to assume that this employee development program is effective only for those with a strong desire to advance in the field of management and the food business as a whole, or for those who seek financial security. When a person has a passion for a certain activity, it becomes a significant part of his or her identity, and he or she is willing to devote more time and energy to achieving success in the sector of personal interest (Spehar et al. 17).

Thus, a natural tendency toward particular performance areas may be viewed as one of the fundamental requirements for long-term motivation and job retention. Notablely, Chipotle asserts that it only hires individuals who are genuinely passionate in food and customer service, and that it terminates employees who lack enthusiasm for their work (Qumer and Purkayastha 5). However, it is unlikely that such a high recruitment level be maintained across all of the company's sites. In addition, one could argue that the number of participants qualified for the Restaurateur program is relatively small. Thus, the professional development program of the company does not equally benefit all of its employees.

Recommendations

The investigation indicated that Chipotle has a strong employee culture. It is evident that the company makes great efforts to improve employee motivation. Nonetheless, in order to develop further, decrease HR expenses, maximize economic growth, and prevent any negative incidents during expansion, the restaurant's management must answer all employee complaints.

First, pay must not just be competitive and based on performance, but also fair. When subordinates are appropriately compensated for their extra efforts, they acquire greater trust in their employers and a sense that their interests do not clash with those of the business, so enhancing both job satisfaction and motivation (Falk 2). Second, it is crucial to ensure that work settings are safe in a variety of other ways, particularly in terms of stress exposure and work-life balance. Therefore, Chipotle must investigate ways to lower workloads and vary jobs so that employees do not have to compromise personal interests and time or feel bored and inadequate at work.

Inasmuch as not every Chipotle employee will have a genuine passion in the culinary sector, the latter two characteristics are especially crucial (which the company is recommended to acknowledge as well). Therefore, management should design and implement an alternate employee motivation program geared at developing and recognizing the efforts of individuals who may not otherwise be eligible to become restaurateurs. On the basis of the studied motivational theories, it is plausible to assert that this can be accomplished by giving workers with more meaningful duties and greater autonomy, engaging them in more diversified activities, and encouraging their advancement to non-managerial positions.

Conclusion

Employees are among a company's most valuable assets; thus, executives must make every effort to improve their working conditions and ensure that their employees are content with their jobs. Employee job satisfaction can be increased by providing a safe and supportive organizational environment, monetary and non-monetary incentives and rewards, recognition, a fair compensation, opportunity for professional and personal growth, training, and other similar initiatives. Nonetheless, these workforce management initiatives do not exist solely for the satisfaction of employees; they also assist businesses in achieving their strategic objectives.

As demonstrated by the examination of Chipotle's work culture, dissatisfied employees typically create subpar outcomes, whereas satisfied teams tend to be more motivated and exhibit favorable organizational behaviors. It implies that improving organizational performance requires addressing the issue of employee satisfaction, ensuring that lower-priority worker requirements are adequately satisfied, and providing ample opportunity for everyone to be acknowledged for their contributions and reach their full potential.

Sources Cited

"Measuring Workplace Relationship and Job Satisfaction of Divine Word Colleges Employees in Ilocos Region, Philippines." Abun, Damianus, et al. The International Journal of Current Research, volume 10, issue 1, pages 75279 to 75286.

Why Psychological Safety Is the Key to High-Performing Teams, by Ross Brooks Peakon. 2018. Web.

Key Components of an Effective Mentoring Relationship: A Qualitative Study. Eller, Lucille Sanzero, et al. Nurse Education Today, volume 34, issue 5, pages 815–820, 2014.

Falk, Armin. "Fairness and Motivation: Fair Treatment Creates Incentives and Benefits Employees and the Organization." 2014 IZA World of Labor, no. 9, pp. 1-10.

Haque, Mohammad Faizul, et al. "A Critical Analysis of Motivational Theories." 2014 ASA University Review, volume 8, number 1, pages 61-68.

Impact of Compensation and Benefits on Job Satisfaction, Mabaso, Calvin Mzwenhlanhla, and Bongani Innocent Dlamini, 2004. Research Journal of Business Management, 11(2), pages 80-90, 2017.

Qumer, Syeda, and Debapratim Purkayastha. Initiatives for Career Development and Employee Motivation at Chipotle. 2015, INS Center for Management Research

"Passion for Work, Job Satisfaction, and the Mediating Role of Belongingness," by Ivan Spehar et al. 2016 edition of the Scandinavian Journal of Work and Organizational Psychology, pages 17-26.

[supanova question]

Organizational Behavior In Chipotle: General Analysis And Recommendations English Essay Help Online

Table of Contents
Case Overview Problem Identification Analysis Objectives and Goals Case Study of Employee Motivation: Theoretical Context Recommendations Conclusion Bibliography

Case Overview

Chipotle Mexican Grill, Inc. (Chipotle) is an American chain of fast-casual restaurants. It was launched in 1993 by Steve Ells as a brand that prioritizes food quality and superior customer experiences (Qumer and Purkayastha 1). Currently, the success of Chipotle is attributed to its unique food culture. However, Chipotle's outstanding performance is also due to a well-developed staff culture and intelligent labor management decisions.

The organization is people-focused and makes significant efforts to foster a supportive work environment in which everyone feels valued. In addition, the management has built a unique structure for employee development that recognizes top performers and prepares them for future leadership responsibilities. Chipotle also offers its employees excellent opportunity to earn a high wage based on the quality of their performance, while the company's list of non-financial incentives includes wellness programs and technology support for managers (Qumer and Purkayastha 7).

Chipotle believes that its people-focused culture is the primary reason it has been able to reduce staff turnover and training expenses, as well as enhance worker motivation, loyalty, and productivity.

Identified Issue

However, not all Chipotle employees are as satisfied with their jobs as the company's management claims. Some Chipotle team members complained about the highly stressful and fast-paced work atmosphere, poor work-life balance, unpaid overtime work, and even intolerable physical workplace conditions (Qumer and Purkayastha 8). Significant worry is raised by employees' negative assessments of Chipotle's culture and overall atmosphere. While the firm intends to grow in the future, the frequency of such unfavorable employee encounters may increase, making it more challenging to maintain Chipotle's unique and happy culture.

Analyze Purposes and Objectives

In light of the aforementioned problem that the restaurant chain is currently facing, this report will examine the significance of employee motivation, evaluate the value and efficacy of the employee motivation methods that Chipotle currently employs, and discuss various methods that can be used to increase worker job satisfaction. The purpose of this article is to demonstrate, using the corporation as an example, how the satisfaction of various employee demands translates into a higher level of employee motivation and more positive organizational behaviors. In addition, it will examine the extent to which different organizational characteristics might inspire individuals to be engaged and productive at work. The principles of Maslow's Hierarchy of Needs and Herzberg's Two-Factor Theory will be used to guide the analysis.

Employee Motivation: Conceptual Framework

Motivation is a complex topic, yet it may be defined simply as the force that motivates humans to achieve specific aims and goals. As a result, each individual's motivation depends on his or her unique qualities and personality traits. Nonetheless, numerous theories and models have been established to explain this phenomenon and identify the elements that either raise or diminish one's willingness to act and commit to specific activities.

The Maslow's Hierarchy of Needs is one of the most well-known motivation theories now in use. Its premise is that "people always tend to want something, and what they want depends on what they already possess" (Haque et al. 63). Maslow distinguished five distinct levels of human needs in accordance with this theory: physiological, safety, social, esteem, and self-actualization (Haque et al. 63). Food, shelter, and clothes are examples of physiologic demands, which are basic to every individual (Haque et al. 63). If one cannot meet their demands, his or her own existence may be threatened. Therefore, when there is a lack of food and other essentials, individuals are typically preoccupied with finding ways to alleviate their hunger, thirst, cold, etc., rather than focusing on achieving something higher.

When a person's basic requirements are satisfied, they ascend the hierarchy. The second level, safety, relates to a sense of security in one's family, community, and society as a whole; protection from violence; job security; financial stability; and access to basic services such as education and healthcare (Haque et al. 63). There are then more evolved demands for belonging and affection, which suggest opportunities to form meaningful, trustworthy, and close connections with others (Haque et al. 63).

The fourth-level need, esteem, implies that every individual whose lower-level wants are met desires self-respect and acknowledgement based on their accomplishments (Haque et al. 63). According to Haque et al., incapacity to meet these demands always leads to feelings of inadequacy, helplessness, and psychological frailty (63). Maslow places self-actualization at the apex of his hierarchy, signifying complete self-fulfillment and actualization of one's full potential (Haque et al. 63). At this ultimate stage, a person becomes adept at living in accordance with his or her interests, innate tendencies, and desires.

To achieve the highest level of self-satisfaction, according to Maslow's Wants Theory, one must satisfy all lower-ranking needs first. However, Maslow observed that "a person can be partially satisfied with one level and still seek satisfaction at a higher level" (Haque et al. 64). This remark emphasizes that the components that define motivation might differ significantly from one individual to the next, which managers must consider when putting this theory into reality.

However, the most important thing to realize is that discontent with anything constantly produces a sensation of restlessness and psychological/physical discomfort, which encourages one to act accordingly. Managers can use this discontent to motivate subordinates to adopt actions that will benefit the organization by giving them with opportunities to meet different levels of requirements.

In addition to Maslow's Hierarchy of Needs, managers and leaders may find it valuable to get familiar with Herzberg's Two-Factor Theory, as it enhances the understanding of employee motivation. Maslow suggested that elements that contribute to job happiness are "the opposite of those that contribute to job dissatisfaction." Herzberg's thoughts contradict this notion (Haque et al. 64). The former theory concluded that what makes people happy are primarily the features of the activities they engage in and how they engage in them, whereas what makes them unhappy is how they are treated (Haque et al. 64). Herzberg differentiated two distinct sorts of factors based on this observation: intrinsic or motivators and extrinsic or hygienic elements.

The first group consists of accomplishment, recognition, the nature of the work, responsibility, and opportunities for advancement, while the second group consists of organizational structure, culture, policies, overall work conditions, work-life balance, compensation, and other company-related factors (Haque et al. 64-65). According to the theoretician, manipulations with sanitary variables cannot be used to inspire employees, but rather to prevent unhappiness (Haque et al. 64).

However, if extrinsic reasons are unsatisfactory, the organization cannot encourage employee motivation (Haque et al. 64). Thus, only intrinsic feelings and ambitions may be targeted by managers in order to increase employee engagement and productivity. Before building a proper motivating system, however, firms must ensure that their internal settings make subordinates feel pleased and secure. The combination of Herzberg's theory and Maslow's Hierarchy of Needs can help effectively evaluate the strengths and weaknesses of Chipotle's culture in terms of its ability to motivate employees and explain what has gone wrong in the company and what should be avoided in the future.

Case Analysis

It appears that the restaurant's existing employee culture and motivation system, as intended and perceived by the company's managers, enable workers to achieve their various levels of requirements, from the most basic to the most self-actualizing. First, compared to other fast-food restaurants, salaries at Chipotle are higher at all organizational levels than the average for the industry. The least reported mean wage of a Chipotle employee is $21,000, while the maximum recorded mean wage is $106,000. (Qumer and Purkayastha 5). Clearly, even the lowest of the identified amounts is sufficient to meet a person's physiological needs, whereas higher wages also promote a greater sense of security because they facilitate professionals' access to healthcare, housing, and other essential sources and services that provide a sense of safety.

It is also true that Chipotle's culture and surroundings enable employees to fulfill their need for love and belonging. As part of the Restaurateur program designed to empower and promote Chipotle's finest employees, for instance, team members are expected to closely cooperate and mentor their peers (Qumer and Purkayastha 7). According to Eller et al., mentoring entails not only the transfer of knowledge but also the creation of loving relationships and open, courteous, and trustworthy communication (815).

It implies that Chipotle's employees have the opportunity to feel valued as both professionals and individuals at work. In addition, Qumer and Purkayastha claimed that Chipotle seeks to hire individuals with a love for cuisine and customer service and pays close attention to how candidates' characteristics align with the restaurant's purpose, vision, and core values (5). Personality-wise, Chipotle's teams are composed of individuals who are similar and compatible, so they may establish a strong sense of belonging to both their coworkers and the organization as a whole.

According to Herzberg's theory, the aforementioned ambient elements belong to the category of hygienic factors and, as such, Chipotle utilizes them to increase job satisfaction. In firms defined by poor work relationships and a high conflict rate, for instance, subordinates face a higher risk of mental health issues, and as a result, their motivation and performance decrease (Abun et al. 75279). In addition, Mabaso and Dlamini's study found that pay level is positively connected with employee satisfaction and influences such outcomes as work interest, professional development, motivation, overall performance, and employee turnover (81).

These findings explain why Chipotle employees who took advantage of the opportunity to enhance their compensation tended to be loyal to the company and strive for job excellence. This research also clarifies why some Chipotle employees who felt underpaid for their effort were severely dissatisfied with their jobs and lacked organizational loyalty.

It is pertinent to note that other Chipotle employee complaints, such as a lack of work-life balance and overly stressful working conditions, have a negative effect on subordinates' mental health and instill a sense of psychological insecurity, which inevitably translates into decreased morale and productivity (Brooks). According to Maslow's Hierarchy, the need for security is one of the fundamental human interests. When a person's expectations are not met in a given scenario or employment, he or she will eventually strive to find a more rewarding alternative.

In unfavorable conditions such as these, Chipotle was harmed by employees' innate desire to satisfy their basic necessities. While the company professes to assist its employees and give them with different options for growth, in this instance it has neglected to take into account the fact that lower-ranking interests must also be considered in efforts to increase employee engagement. The investigation of complaints regarding bad work conditions at Chipotle also confirms the key tenet of Herzberg's theory: it is impossible to encourage people to perform well and maintain their commitment in unsatisfactory circumstances.

However, the latter theory also implies that such extrinsic elements as salary and work environment contribute only partially to one's motivation, and to understand what motivates employee behavior, it is necessary to examine intrinsic motivators more deeply.

Such intrinsic motivation variables as acknowledgment, accomplishment, and type of work (its appeal to an individual) correspond to Maslow's hierarchy's higher-order goals for esteem and self-actualization. The application of these structures to Chipotle's employee motivation system demonstrates that the company's Restaurateur program, an internal employee promotion scheme, directly targets these employees. This program links key performance indicators, such as quality and productivity, to specific professional development and growth possibilities.

For example, to succeed in their careers, staff must not only develop their cooking and hospitality talents, but also their mentorship and leadership abilities (Qumer and Purkayastha 7). A worker's prospects of earning larger monetary and non-monetary rewards and enhancing his/her professional standing increase as he/she develops each of these skills over the various phases of the program. It indicates that Chipotle combines the requirements of individuals for prestige and a sense of success with its own strategic objectives and objectives.

However, it is reasonable to assume that this employee development program is effective only for those with a strong desire to advance in the field of management and the food business as a whole, or for those who seek financial security. When a person has a passion for a certain activity, it becomes a significant part of his or her identity, and he or she is willing to devote more time and energy to achieving success in the sector of personal interest (Spehar et al. 17).

Thus, a natural tendency toward particular performance areas may be viewed as one of the fundamental requirements for long-term motivation and job retention. Notablely, Chipotle asserts that it only hires individuals who are genuinely passionate in food and customer service, and that it terminates employees who lack enthusiasm for their work (Qumer and Purkayastha 5). However, it is unlikely that such a high recruitment level be maintained across all of the company's sites. In addition, one could argue that the number of participants qualified for the Restaurateur program is relatively small. Thus, the professional development program of the company does not equally benefit all of its employees.

Recommendations

The investigation indicated that Chipotle has a strong employee culture. It is evident that the company makes great efforts to improve employee motivation. Nonetheless, in order to develop further, decrease HR expenses, maximize economic growth, and prevent any negative incidents during expansion, the restaurant's management must answer all employee complaints.

First, pay must not just be competitive and based on performance, but also fair. When subordinates are appropriately compensated for their extra efforts, they acquire greater trust in their employers and a sense that their interests do not clash with those of the business, so enhancing both job satisfaction and motivation (Falk 2). Second, it is crucial to ensure that work settings are safe in a variety of other ways, particularly in terms of stress exposure and work-life balance. Therefore, Chipotle must investigate ways to lower workloads and vary jobs so that employees do not have to compromise personal interests and time or feel bored and inadequate at work.

Inasmuch as not every Chipotle employee will have a genuine passion in the culinary sector, the latter two characteristics are especially crucial (which the company is recommended to acknowledge as well). Therefore, management should design and implement an alternate employee motivation program geared at developing and recognizing the efforts of individuals who may not otherwise be eligible to become restaurateurs. On the basis of the studied motivational theories, it is plausible to assert that this can be accomplished by giving workers with more meaningful duties and greater autonomy, engaging them in more diversified activities, and encouraging their advancement to non-managerial positions.

Conclusion

Employees are among a company's most valuable assets; thus, executives must make every effort to improve their working conditions and ensure that their employees are content with their jobs. Employee job satisfaction can be increased by providing a safe and supportive organizational environment, monetary and non-monetary incentives and rewards, recognition, a fair compensation, opportunity for professional and personal growth, training, and other similar initiatives. Nonetheless, these workforce management initiatives do not exist solely for the satisfaction of employees; they also assist businesses in achieving their strategic objectives.

As demonstrated by the examination of Chipotle's work culture, dissatisfied employees typically create subpar outcomes, whereas satisfied teams tend to be more motivated and exhibit favorable organizational behaviors. It implies that improving organizational performance requires addressing the issue of employee satisfaction, ensuring that lower-priority worker requirements are adequately satisfied, and providing ample opportunity for everyone to be acknowledged for their contributions and reach their full potential.

Sources Cited

"Measuring Workplace Relationship and Job Satisfaction of Divine Word Colleges Employees in Ilocos Region, Philippines." Abun, Damianus, et al. The International Journal of Current Research, volume 10, issue 1, pages 75279 to 75286.

Why Psychological Safety Is the Key to High-Performing Teams, by Ross Brooks Peakon. 2018. Web.

Key Components of an Effective Mentoring Relationship: A Qualitative Study. Eller, Lucille Sanzero, et al. Nurse Education Today, volume 34, issue 5, pages 815–820, 2014.

Falk, Armin. "Fairness and Motivation: Fair Treatment Creates Incentives and Benefits Employees and the Organization." 2014 IZA World of Labor, no. 9, pp. 1-10.

Haque, Mohammad Faizul, et al. "A Critical Analysis of Motivational Theories." 2014 ASA University Review, volume 8, number 1, pages 61-68.

Impact of Compensation and Benefits on Job Satisfaction, Mabaso, Calvin Mzwenhlanhla, and Bongani Innocent Dlamini, 2004. Research Journal of Business Management, 11(2), pages 80-90, 2017.

Qumer, Syeda, and Debapratim Purkayastha. Initiatives for Career Development and Employee Motivation at Chipotle. 2015, INS Center for Management Research

"Passion for Work, Job Satisfaction, and the Mediating Role of Belongingness," by Ivan Spehar et al. 2016 edition of the Scandinavian Journal of Work and Organizational Psychology, pages 17-26.

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Equal Full Employment Opportunity Commission English Essay Help Online

In the current world, issues of equality and eliminating discrimination in the workplace are one of the most important aspects of human rights protection. Title VII of the Civil Rights Act of 1964 established the Equal Employment Opportunity Commission (EEOC), which began operations on July 2, 1965. (Buckley, 2018). The Pregnancy Discrimination Act was revised in 1972 and again in 1978. (Buckley, 2018). The Commission aims to reduce instances of discrimination based on race, color, religion, national origin, gender, and all other job conditions.

In addition, the Commission encourages the implementation of voluntary action initiatives created by companies, trade unions, and local organizations in order to realize the right to equal employment opportunities. The penalties for noncompliance with EEOC anti-discrimination standards vary based on the type of discrimination and the size of the organization; typically, the maximum civil penalties range between $50,000 and $300,000. (Buckley, 2018).

The Commission has the authority to oversee compliance with laws preventing discrimination against people with disabilities by employers (U.S. Equal Employment Opportunity Commission, n.d). The Commission's 48 representations are responsible for legal protection and the investigation of complaints. Since 2008, when the Americans with Disabilities Act Amendments (ADA) of 2008 took effect on January 1, 2009, the proportion of discrimination claims based on disability has increased annually (Taylor, 2020). Specifically, the EEOC filed lawsuit No. 1:19-cv-00165, U.S. Equal Employment Opportunity Commission v. Herbruck Poultry Ranch, Inc., in the District Court for the Western District of Michigan on March 1, 2019. (U.S. Equal Employment Opportunity Commission, 2019). Melinda Crooke, a former employee of Herbruck who suffers from attention deficit disorder (ADD) and Tourette's Syndrome, a disability within the meaning of the ADA, filed a case on the basis of the ADA (U.S. Equal Employment Opportunity Commission, 2019). According to the EEOC, Crooke was harassed by coworkers and a supervisor at Herbruck throughout her employment there since 2014. She was subjected to continual ridicule and vicious criticism. When Crooke approached the human resources person, she received no assistance.

The ADA protects employees from disability-based discrimination, including disability harassment and workplace discrimination. Utilizing its statutorily mandated conciliation process, the Equal Employment Opportunity Commission (EEOC) attempted to achieve a pre-litigation settlement based on ADA provisions (U.S. Equal Employment Opportunity Commission, n.d.). As Herbruck's refusal to negotiate rendered the initiative futile, the EEOC filed suit in district court.

In the Consent Decree ending the disability discrimination action, signed by U.S. District Court Judge Janet T. Neff on December 5, 2019, Herbruck consented to pay $93,000 as part of the settlement (Taylor, 2020). The Consent Decree also mandated that Herbruck must provide all of its workers with training on the inappropriateness of handicap discrimination, including instruction on the ADA's prohibitions against harassment. In addition, the EEOC directed Herbruck to amend its anti-discrimination and harassment policies, as well as to take necessary measures to respond to all complaints of disability-based assaults, including the implementation of commensurate measures.

Generally, an appeal to the court for its infringement is regarded as the foundation for determining compliance with the law. The enforcement of a statutory ruling begins when charges are filed, although the EEOC can verify the execution of the law even if the court has not been addressed, as in the instance of Crooke. When an applicant-employee believes he or she is a victim of discrimination or harassment, he or she can file a complaint with the EEOC, since the Commission enforces Title VII of the Civil Rights Act of 1964 and other workplace equality laws. The Equal Employment Opportunity Commission (EEOC) advises mediation services to meet and talk; a process that allows the issue to be resolved quickly and affordably.

To avoid wasting time and money, and tarnishing the company’s reputation, the employer should affirm that acquiring the employee’s complaint and the mediation purposes fee is in the best interest of the business. The EEOC strongly endorses mediation, as it frequently results in a settlement pay that is mutually agreed upon. In addition, the outcome is not made public, which prevents a loss in the employer's company's goodwill. In the Crooke case, Herbruck lacked common sense (possibly because it was more focused on the B2B sector), and the case was handled in court.

Notably, EEOC investigations can last up to six months, and as a federal agency responsible for enforcing Title VII of the Civil Rights Act of 1964 and other federal laws pertaining to employment rights, the Commission has the right to compel the employer to provide the requested documents at any time. Refusing to give materials can have an adverse effect on the EEOC's final determination. The EEOC issued a press release regarding the lawsuit filed against Herbruck Poultry Ranch on December 5, 2019 — eight months after the lawsuit was filed. This case exemplifies the typical outcome of the EEOC's attempts to facilitate the implementation of anti-discrimination laws and the penalties for firms who admit to discriminatory practices but refuse to cooperate with the Commission.

The preceding example clearly demonstrates the repercussions that can result from a company's failure to comply with EEOC's formal non-discrimination standards in the workplace. In addition to very considerable financial consequences, the public publication of the case casts a shadow over the company's reputation, diminishing its appeal to clients and investors, particularly institutional investors. This has long-term detrimental impacts on the company's performance and market position. In this context, it is clear that responsible human resource management and professional diversity management are essential for any organization that wishes to maintain and grow its competitive edge, market value, and goodwill.

References

Buckley, J. F. (2018). Equal employment opportunity compliance guide. Wolters Kluwer.

Taylor, Robert B. (2020). EEOC releases FY 2019 statistics: The number of discrimination claims is at an all-time low, while the number of retaliation claims continues to grow. ButlersNow. Web.

Equal Employment Opportunity Commission, United States (2019). Herbruck Poultry Ranch, Inc. settles EEOC harassment and retaliation action for $93,000. National Law Journal. Web.

Equal Employment Opportunity Commission, United States (n.d.). What Laws Does EEOC Enforce? Web.

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AT&T Company’s Information Technology Plan English Essay Help Online

Introduction Summary

AT&T is a global leader in offering a vast array of communications services to 85,1 million users in 220 countries. Products and services include the new iPhone 4, next-generation TV services, advanced solutions for multinational organizations, and global IP-based communications services for businesses. Since more than a century ago, consumers have had access to these high-quality goods and services, including great customer service and support. AT&T's "mission is to connect people to their world, wherever they live and work, and it excels at doing so." AT&T explains the company's vision as the creation of innovative solutions for customers and businesses, as well as the advancement of the communications and entertainment industries. Their video offerings have been expanded to include next-generation television services such as AT&T U-verse® TV and AT&T | DIRECTVSM. AT&T's “three-screen” integration approach entails delivering services across the three areas of technology that customers rely on most: the mobile device, the computer, and the television. AT&T has the nation's fastest mobile broadband network and the broadest worldwide coverage of any U.S. wireless carrier, delivering the most phones that work in the most countries, the largest Wi-Fi network, and the most high-speed Internet access subscribers in the U.S.

In this report, Team "B" will begin with a current technology evaluation, describe AT&T's usage of technology, and discuss the issues that technology poses for management. The next phase is to do a study of AT&T's value chain, encompassing the company's key activities, supply chain, operations, distributions, marketing, sales, and service. This will bring the paper to AT&T's support activities, including infrastructure, human resource management, and technological development. This study will focus on AT&T's Internet usage and highlight novel ways such as the use of security and mobility. AT&T uses the Internet for human resource management, competitive analysis, corporate data collection, and customer service. Change is inevitable, and managing it may be particularly difficult for huge organizations like AT&T. This article will shed light on the duties of each AT&T division for implementing technological changes, as there are numerous reasons for the change in technology. In addition, the paper will discuss the knowledge of which training is required to make the adjustments possible. Next, we will discuss AT&T's social duties, how they are met by technology in relation to humans, developing ethical challenges in technology, and the role of HR in satisfying social and ethical responsibilities utilizing technology. In conclusion, this article will discuss worldwide concerns of integration with new technology, global expansion, and cultural variations that can impact globalization.

Current Technology Evaluation

AT&T Research

AT&T's technologies have contributed to the improvement of global human situations. With the founding of AT&T's research and development division, the company's technological achievements have continued to flourish. AT&T provides the same technology used for its own business processes to home, small business, and enterprise communication systems.

Varieties of technologies

AT&T provides one of the world's most advanced IP-based business communication services. They offer application networking solutions for Application management, Content distribution, Internet security, Mobile apps, Telepresence, and Utility computing to corporations. In addition, they provide business networking solutions for video conferencing, Ethernet, hosting, VPN, and VoIP. Private and small company sectors also benefit from 3G networking, wireless coverage, high-speed Internet access, voice services, and television communications via U-verse and AT&T/DIRECTV services.

Assistance with Business Functions

In addition to providing help desk support, the IT support team organizes system updates, software and hardware purchases. Email and video conferencing tools for global infrastructures keep employees informed about new products and technologies for external communications. Therefore, these applications must function effectively for intercontinental and domestic communication. A crucial business function necessitates strong IT assistance for the efficient running of business operations and expansion (Parsons, 2003).

AT&T's workforce output and efficiency are enhanced by the telecommunications industry. This flexible work program improves the quality of life for employees. The declaration of more than 9,000 employees on this program, together with anticipated growth, need the support of IT personnel for existing and expanding technologies in this area of interest. According to AT&T's website (2009), "AT&T's IT organization, one of the largest in the world, was recognized for its work in developing technology solutions that transform business processes and market offerings in ways that create value and have a positive impact on AT&T's business, customers, and partners" (para. 1). AT&T has been named "IT Department of the Year" for three consecutive years, recognizing the significance of supporting business processes.

Difficulties of Managing Technology

Current Technology

There are hardware and software technologies linked with AT&T's communication services. When a huge client database is involved, updating these systems might become troublesome. Overstaffing IT professionals results in increased expenses, while lowering support staff lengthens maintenance and software update lead times. It becomes a managerial challenge to determine the optimal level of IT assistance for current technology. Increased workloads also increase stress levels and upset support staff.

Innovative Technology

New problems accompany technological progress. Failure to fully test a product before to adoption not only results in consumer displeasure, but also diminishes customer loyalty and trust. AT&T's 3G network has been criticized for poor connectivity and other quality issues, although the company plans to enhance the service to give faster broadband speeds (Hiner, 2009).

For a project to be successful, managers must have the right people composition. Inadequate manpower leads to unanticipated problems that result in poor items reaching the market. In addition, developing technologies require appropriate support personnel and experienced help desk support for problem-solving.

Skills for Development

AT&T's mindset holds their management team accountable for taking the initiative to promote workplace diversity. Employee development and training are crucial factors that directly affect customer service and shareholders. Through Leadership Development Programs, AT&T's managers acquire skills and abilities that correspond with the company's directives. Additional programs include the Accelerated Development Program (ADP) for future and mid-level managers who desire additional leadership development training.

Technology's effect on management

Preparation

Technology affects all occupations, from entry-level to managerial. The ability to plan, organize, lead, and manage technology innovations lessens the pressures and issues that may arise if they are not managed effectively. For instance, technology has compelled administration to establish methods of communication during natural disasters. AT&T's Network Disaster Recovery (NDR) response team deploys over 300 technical support trailers to disaster-stricken areas. According to AT&T (2010), "a crucial aspect of AT&T's efforts to maximize network reliability is its ability to respond quickly to disasters, which is made possible by extensive preparations" (para. 3). AT&T utilizes their technological ability to set an example for others by utilizing technology for their mutual advantage.

New Capabilities of Technology

Although staffing has always been a vital aspect of management, a shift in technology places a greater premium on employing qualified individuals in the appropriate positions. Staffing with the suitable individuals improves work performance. With the emergence of new technologies, the importance of training and remaining current grows. According to IBM Global Services (n.d.), one of the primary roles of IT is to develop, improve, and manage technological solutions across the enterprise (Provide an Enterprise IT Management System, para. 1). Improving an organization with technology necessitates a qualified IT manager who comprehends the business process.

Value Chain Analysis

Principal Actions

The Value Chain Analysis examines each step a corporation takes to deliver goods or services at the lowest cost. AT&T employs this method to identify production methods that do not compromise performance quality. Through its major activities, AT&T focuses on developing and distributing products. These functions include supply chain, operations, and distribution. AT&T, one of the U.S.'s telecommunication services, offers consumers a variety of products, including telecom equipment, voice, data, video, and integration services. In addition, AT&T offers directory and networking services, as well as application management. By transitioning from voice to data and managed networks, AT&T has increased the value of their communication exchanges.

AT&T handles its operations through wired, wireless, and directory technologies. The company's primary operations are in the United States, but it has begun to grow into Asia and the Middle East. AT&T's objective is to strengthen operational procedures in order to save costs and enhance the consumer experience with its goods and services. AT&T attempts to move away from landlines due to the high cost of its networks. With wireline services, it is interoperable with other equipment and continues to function despite power outages. E911 is one of the distinctive features. This service dispatches the precise location and phone number to emergency services. Popular Cell Phones, New Devices, and Wireless Links (keeping the same number). Committed to serving consumers with disabilities, the Advisory Panel provides alternative billing and assistance with accessible options. The Rollover Minutes service allows clients to retain unused minutes, which are then accessible the following month. Obtaining directory assistance does not involve leafing through a book.

AT&T offers YELLOWPAGES.com to give consumers and businesses with a faster connection. This feature offers expanded search capabilities, in-depth content, and city guides. This is the characteristic known as "walking fingers." With Content Delivery Network services, AT&T reduces the need to purchase and construct extensive infrastructure to deliver media services to clients. This facilitates the management and distribution of video and multimedia web content for clients. to computers, mobile computing devices, and televisions. This is provided by AT&T Content Distribution services to end users. AT&T focuses on Sales and Marketing to determine the demands of its customers. For customers, the focus is on home and wireless services. AT&T offers flat-rate pricing and secure networks as an outsourced solution for enterprises. AT&T also provides an alternative for one-stop shopping. "Services are the discrete cipher by which product development, market concentration, and business metrics determine success" (Levy, Mitchell & Cormia, 2006). The consumer is the focus of the market. AT&T's residential services include local and long distance calling, voicemail, and message forwarding. The goal of AT&T's product development is to provide voice, data, and application services to companies.

Helpful Activities

AT&T conducts support initiatives designed to improve effectiveness and productivity. Infrastructure, human resource management, and technological development are among the activities. AT&T provides a dedicated network infrastructure and has initiated the provision of value-added network and specialized premium services. Bundling, voice communication, and the expansion of wireless access are crucial. AT&T continues to attract, retain, and encourage its staff to ensure their efficiency when interacting with customers by utilizing a competent human resources management team. Human Resources also give continuous training and development for their employees in order to boost their efficacy. The objectives of human resource management are recruiting, selection, and socialization. This indicates that HR works diligently to recruit, retain, and motivate staff. AT&T's technology development includes the integration of off-the-shelf products and the creation of new technologies to streamline client engagement.

Innovative Methodologies

AT&T's unique approaches to corporate activities include Integrated Security and Integrated Mobile. Internet Protect Product earned AT&T the "Best Technology Foresight" award in 2004. This service will help end-users transmit alerts about assaults (viruses). AT&T has also shifted its focus to pollution control. One of the manufacturing facilities in Columbus has removed the use of a hazardous chemical (Perchloroethylene-PCE). This method was implemented in an effort to limit emissions of greenhouse gases.

Utilization of the Internet in Human Resource Management

Using the Internet, HR Management information is widely available, allowing consumers to conduct research on the company, financial statement reports, corporate information, collection of corporate data, new product creation, and complete outsourcing. Utilizing information technology can improve the responsiveness and efficacy of customer service and marketing departments. AT&T is an Internet-driven company that continues to update communication technologies for the experience of the next generation.

Managing Change

Change can be challenging for any organization, particularly when it requires educating, monitoring, and implementing new rules and procedures for employees and consumers. As AT&T continues to progress and advance in the area of technology, it is important to develop a strategic and realistic plan to review the current operations within the company; create a technological advancement plan with key individuals and management; assess any potential problems or issues with the implementation of the new technologies; create training for all employees who will be impacted by the transition; and provide public awareness and support to the transition.

Technical Support Instruction

Managing people is not an easy task. When employees are familiar with their job's procedures, they are able to carry out their duties with confidence. AT&T must produce a plan that defines how the new technology will be implemented and identifies the resources necessary for this transition to be successful in order to improve the quality and efficiency of the services it provides. The organization must work closely with the IT department to ensure appropriate assistance is available for the change's implementation, as well as identify essential personnel to give technical support to employees and customers. Learning new technology can be challenging for any employee, especially technical support. AT&T should provide engineering and technical support personnel with specific training to educate them on new technologies and initiatives. This group would create a guidebook or policy to promote this development.

Transitional roles

The functions of business managers, human resources managers, and technology managers within a company are vastly distinct. Managers of a business must decide the best cost-effective way to supply clients with the services they require at a reasonable and profitable price for the organization. Human Resources must decide if the support is available within the organization or if the transformation will necessitate outsourcing. This procedure may need a business plan and competitive bidding. The Technology Manager will give services to all parties involved in determining the necessary software to suit the company's and customers' needs. When opposition exists, managing change and adopting new procedures can be challenging tasks. Productivity, communication, and support are crucial things to consider when implementing change. AT&T must effectively communicate with all parties involved, design an efficient plan, and provide technical support to all parties throughout the transition in order to successfully upgrade its technology and services.

Social Contract

AT&T's perspective on social responsibility entails a need to serve customers, stockholders, workers, suppliers, and communities with excellent care and respect.

Managing The Allowances For Uncollectible Accounts English Essay Help Online

Table of Contents
Introduction Reduction of allowances for accounts that cannot be collected Conclusion Bibliography

Introduction

The management of cash and accounts, particularly notes receivable, is crucial for sustaining enough liquidity. Also included among these assets are accounts payable and inventories. Consequently, when dealing with cash and receivables, business actors must handle five main challenges. These include establishing credit standards, managing cash requirements, appraising the values of accounts receivable, financing accounts receivable, and estimating credit losses in an ethical manner (Needles, Powers, and Crosson, 2006, p.370).

Cash and accounts receivable are examples of short-term financial assets. However, accounts receivable are the result of granting credit to consumers or other businesses. This sort of credit is frequently referred to as trade credit, and its terms of trade typically span from five to sixty days, depending on business standards (Needles et al., 2006, p. 372). Most businesses provide credit in an effort to increase sales and profits. However, some clients may take longer to pay for the supplied goods or services. These types of customer accounts are known as bad debts or uncollectible accounts. These accounts should be reflected in the balance sheets as credit sales-related expenses.

Upon establishing that an account cannot be collected, some businesses reduce their accounts receivable and increase the value of the uncollectible account to the value of the uncollectible account. This conforms to federal requirements mandating that the majority of businesses utilize the direct charge-off approach for calculating taxable income when detecting losses (West, 2008, p.394). However, the majority of GAAP-compliant corporations opt to use the allowance method.

The allowance approach permits the analyst to compare the expenses associated with uncollectible accounts to the revenues generated by these accounts. This is done at the time the sales are made, and because it is impossible to predict which accounts will not be paid, the management must estimate the losses incurred as a result of the matching rule. The estimations are subsequently recorded as expenses when sales are recorded. Bad debts must appear in the debit column when calculating an allowance for uncollectible accounts. In the meantime, collected accounts are entered in the Credit column in order to balance off the bad debts, as demonstrated below:

Creating a provision for Uncollectible Accounts

Account Credit Balance

Bad debt expense 100

Allowance for AR not collected

100

In the meantime, when it takes a long time to recover bad debts, it is necessary to eliminate them periodically. These accounts should be eliminated from both the receivables balance and the provision for uncollectible accounts column (Nelson, 2010, p.49). As mentioned in the following table:

Accounting for Uncollectable Receivables

Account Credit Balance

Allowance for 100 uncollected

Accounts payable

100

Reducing the provision for uncollectible accounts can help increase the overall net sales percentage, but it can also have varying effects on the majority of other corporate operations. This action may influence firm management, stockholders, and even individual creditors or other businesses. It could also affect the total earnings recorded on the balance sheet and income statement.

Reduction of allowances for accounts that cannot be collected

How does the relocation affect the parties involved in the business?

This move can have both beneficial and bad effects on the parties concerned. Management, investors, customers or clients, and tax regulatory bodies are the key business stakeholders. Since this action aims to influence the estimates required for the projection of future losses, it can have multiple effects on reported earnings. This action will allow management to report better earnings, which will increase the company's stock price, EPS, and dividends paid to each investor (West, 2008, p.380). It also improves the bonuses of the company's executives while giving debtors additional time to pay and allowing management to make the required adjustments. However, the action will boost the company's total taxable income to its detriment and give shareholders a false impression of the company's financial health.

What impact will the relocation have on the income statement and balance sheet?

Doubtful accounts are estimates resulting from bad debts and are accounts that diminish the quantity of accounts receivable. Consequently, any change to the balances of these accounts might similarly alter the expenses for uncollectible accounts represented in the income statements. By decreasing the provision for doubtful accounts, management will be able to demonstrate a high value for accounts receivable that will be converted to cash. Since uncollectible accounts are merely approximated and not declared explicitly, reducing the provision for uncollectible accounts might cause a company's income statement earnings to be overstated (West, 2008, p.377).

What impact will the change have on future income statements and balance sheets?

The estimations of uncollectible accounts are relevant for financial reporting, but not for tax reporting. Therefore, the management of the company prefers to deduct these expenses at a later date, when it is known that the account in question cannot be collected. Since the move overstates the current period's earnings by underestimating the quantity of losses, future earnings will be drastically lowered and will not reach the bonus criteria (West, 2008, p.377).

How can the chief financial officer defend this course of action?

The CFO may explain this action by demonstrating that the underestimated uncollectible accounts are firm assets that will be related to accounts receivable in the foreseeable future. In the future, the corporation can raise capital by selling or transferring accounts receivable to a factor or another organization. It is possible to factor accounts receivable with or without recourse (West, 2008, p.387). Factoring with recourse suggests that the company will be held liable for uncollectible accounts, whereas factoring without recourse absolves the company of responsibility for uncollectible accounts receivable. In addition, generally accepted accounting principles (GAAP) permit the management to choose the estimation accounting method with flexibility. This also provides the management with the option of selecting the financial reporting method so that the results are presented in the best interest of the firm or management (Peterson and Fabozzi, 1999, p.51).

How can an internal auditor discover earnings management?

Since accruals resulting from sales on credit are a component of the business, the value of accounts receivable increases proportionally with sales. Estimates of questionable accounts, often known as bad debts, are deducted from accounts receivable. For the majority of businesses, the ratio of the allowance for questionable accounts to the gross accounts receivable remains relatively stable, making it simple to spot fluctuations in these accounts (Peterson and Fabozzi, 1999, p.53).

What are the repercussions of this action on the company's moral compass? What are the consequences of this behavior?

As this action is intended to manipulate the company's financial statement in the management's advantage, it is a breach of GAAP. This also suggests that the management can no longer be relied upon, as this action is conducted under the belief that outsiders will be unable to discover the change. This may also constitute corruption on the part of the corporation accountant.

The implications of this conduct may include shareholder litigation brought against the company's management, resulting in a restatement of the reported financial results (Peterson and Fabozzi, 1999, p.54).

Conclusion

Notably, the integrity of a company's financial statement is very important to its shareholders and creditors. Therefore, it is the obligation of management to guarantee that these financial statements are presented in accordance with the GAAP rules and principles. This is primarily because these claims have significant financial ramifications, such as calculating the company's value and assessing the creditworthiness of its debt commitments, among others.

Additionally, financial statements that are not prepared in accordance with GAAP can result in a variety of financial issues, as described above. Consequently, the importance of adhering to these standards cannot be overstated; they are required regardless of the situation.

Bibliography

The name S.L. (2010). QuickBooks 2010: The Complete Guide for Dummies Web site of Wiley Publishing, Inc.: Hoboken.

Peterson, P.P., and Fabozzi, J. F. (1999). Financial statement analysis. Web site for Frank J. Fabozzi Associates in New Hope, Pennsylvania.

West, A. (2008). Financial and managerial: accounting, 8th edn. Houghton Mifflin Company: USA. Web.

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The Rio Tinto: Financial Analysis English Essay Help Online

Executive Synopsis

This study includes a financial ratio analysis centered on Rio Tinto's business and financial concerns. To fund the ambitious expansion of its primary business, the company has approached the bank about a possible loan between $250 million and $550 million. Based on a trend analysis and cross-sectional analysis of the company's financial status as disclosed in its 2009 annual report, this report recommends a cautious approach in evaluating the company's credit proposal due to its moderate-to-high level of capital leverage and low short-term liquidity position.

Rio Tinto – Summary

Rio Tinto is a significant international company engaged in the production of metals and minerals in various stages. Aluminum, copper, diamonds, coal, iron ore, uranium, gold, and industrial minerals (borates, titanium dioxide, salt, talc, zircon) are produced by the corporation. (Annual Report, 2009) The company's production facilities are located in Australia and North America. The business operates in more than 50 countries worldwide. About 102,000 individuals are employed by Rio Tinto. The company has a long-term investment and operation approach for mining and enterprises that are competitive. In this regard, the company has approached the bank with a request for financial assistance of between $250 million and $550 million. This paper assesses Rio Tinto's financial position based on the company's annual report for 2009 and provides appropriate suggestions in light of the company's large exposure.

Business Efficiency

The company's business performance can be evaluated by examining the sales growth and profit growth over the past five years. The trend in sales and profitability will be able to reflect the direction of the company's business and the company's ability to fulfill its responsibilities to various stakeholders, including the bank. The performance of the business depends on its ability to increase shareholder wealth through greater profits. The position is shown in the following table and graphs.

2005 2006 2007 2008 2009

Sales US $ Million 20,742 25,440 33,518 58,065 44,036

Profit net in millions of US dollars 5,215 7,438 7,312 3,676 4,876

Net Margin 25.14% 29.24% 21.82% 6.33% 11.06%

Figure: Increase in total revenue Figure: Earnings Growth

From 2005 to 2008, the company's revenue has increased on a continuous basis. However, the company's 2009 sales show a downward tendency, which is unsurprising given the worldwide economic recession, which hit the company's operations as well.

The company's net earnings have been consistently strong up to 2007. Despite a substantial increase in revenue in 2008, the company's profitability has decreased significantly. For 2009, there is an upward trend in profitability, although not to the level of 2007.

Ratios de rendement

The Rio Tinto profitability ratios are displayed in the table below.

Profitability

2009 2008

Margin of gross profit 18,83% 19,35%

Profit Margin, Net: 11.06 % 6.33 %

ROCE 9.84% 17.10%

Return on Equity (ROE) demonstrates how well a company has used its own funds to generate profitability and increase the company's worth to its equity shareholders. Rio Tinto has generated a return of 9.84% in 2009, which is much smaller than its return of 17.10% in 2008. Return on equity is determined by a company's net income. Due to the worldwide economic slump, the company's ROE has decreased. Due to economic considerations, the corporation has also not performed well in terms of profitability.

Short-Term Liquidity

Despite fair profitability over the years, the company is unable to maintain a secure financial position in the short term.

Liquidity Ratios

2009 2008

Actual Ratio (Times): 1.57 0.66

1.05 to 0.38 in terms of times

Rio Tinto has not maintained a healthy current ratio during the past two years. In general, a current ratio of two to one between current assets and current liabilities is seen as healthy. Consequently, the company's short-term liquidity position over the analyzed time appears to be problematic. In 2008, the company had an even lower current ratio, indicating that it lacked the cash to satisfy its short-term financial obligations. The company's quick ratio indicates that its short-term liquidity position is not healthy. Clearly, the business should delay payments to its suppliers and other accounts payable.

Long-Term Profitability

The company's long-term solvency can be determined by its capital-gearing ratio, which indicates the extent to which it uses long-term borrowings (NetMBA, 2007). As indicated by the following ratios, the company's leverage is adequate.

2009 2008

Capital Gearing Ratio 48.00% 68.58%

9.28 7.21 Income Gearing (Interest Cover) (Times)

The company's long-term borrowings for 2008 were 68.58 percent, which appears to be a significant amount. The ratio has decreased in 2009 as a result of the addition of reserves to the company's equity. The income-gearing ratio demonstrates a company's ability to pay its interest payments. Although the company's income-gearing ratio appears to be adequate, it is actually between a moderate and high level.

Evaluation of Cash Flow

Analysis of the company's Cash flow statement for the year 2009 reveals that operating operations generated a net cash flow of $9,212 million (2008: $14,887 million). The corporation appears to have a healthy cash flow condition. Despite generating net cash, the company's short-term liquidity situation is weak due to its high level of current liabilities. This suggests that the corporation should invest its cash in capital expenditures and expansion projects. This is clear from the company's capital expenditures of $5,388 million in 2009 and $8,571 million in 2008. It is possible that the corporation is delaying the settlement of present liabilities in order to invest in new ventures. The financial viability of recently initiated capital expenditure projects must be evaluated to determine their capacity to create positive cash flows and Net Present Values.

Financial Data Requiring Analysis

It is necessary to do a financial study of the company's short-term liquidity and long-term solvency in order to examine the planned exposure. In addition to profit-earning capacity, these are the most significant markers of a company's financial health. Sales growth is another important metric that must be taken into account. A comprehensive analysis of the company's cash flow statement for the past three years revealing the net cash generated by the business is a crucial financial element in the process of evaluating Rio Tinto's loan proposal. If the firm allows, the financial feasibility of the company's most recent capital expenditure projects may be analyzed to gain first-hand knowledge about the company's competency in investing in capital expenditure projects.

Financial Risk and Business Risk

The causes of business risk are economic and worldwide issues, which influence the cash flows of every industry-operating company. The volatility in cash flow from one period to the next produces increased uncertainty and necessitates a higher level of investor remuneration (Investopedia, 2010). For instance, it is anticipated that commodity prices and global demand for Rio Tinto's products will decline, which is a significant business risk for the company that will impact its cash flows from one period to the next. Financial risk, on the other hand, is associated with the company's inability to effectively manage its business funds. Financial risk relates to a company's capacity to pay back its obligations and accrued interest. With an increase in financial obligations, the company's financial risk will increase. In general, enterprises financed with equity will be subject to less financial risk, as there will be no obligations placed on the company in the absence of indebtedness. The firm's activities in obtaining cash for operations, determining the capital structure, transacting in foreign exchange, implementing purchasing policies, or doing any other action, may affect the company's capacity to satisfy its financial obligations and hence expose it to financial risk. Due to its dealings in foreign currencies, Rio Tinto, for instance, could incur financial losses if the exchange rates shift against the corporation.

Conclusion

Due to its leverage, Rio Tinto is exposed to moderate to high levels of financial risk. The corporation relies more on borrowed capital than equity. In addition, the company's capital expenditures have increased during the past two years. According to the financial documents, the corporation appears to have utilized the funds intended for short-term financial obligations for capital expenditure. This is clear from the company's diminished short-term liquidity situation. Therefore, Rio Tinto's plan must be evaluated with caution, as the projected exposure is excessive.

Bibliography

Annual Report, 2009. The Rio Tinto website.

Investopedia, 2010. What are the components of the Investment Risk Premium? Web.

NetMBA, 2007. Financial Ratios. Internet.

Appendix

Ratios de rendement

2009 2008

Operating Income 8 291 11 233

Sales 44,036 58,065

Margin of Gross Profit = Gross Profit/Sales x 100 (8,292/44,036)

= 18.83% 11,233/58,065 = 19.35%

Net Profit 4,872 3,676

Sales 44,036 58,065

Margin of Net Profit = Net Profit /

Sales x 100 4,872/44,036

= 11.06% 3,676/58,065 = 6.33%

EBIT 8,292 11,233

Total Equity plus L.T. Borrowings is 84,293.

ROCE is EBIT/Total Equity plus

LT Borrowings multiplied by 100 8,292/84,293

= 9.84% 11,233/65,693

= 17.10%

Liquidity Ratios

2009 2008

Assets Current 14,932 13,110

Current Liabilities 9,529 19,979

Actual Ratio (Times) =

Current Assets against Current Obligations 14,932/9,529

= 1,57 13,110/19,979

= 0.66

Inventory Current Assets 10,043 7,503

Current Liabilities 9,529 19,979

Rapid Ratio (Instances) =

Currently Available Assets – Inventory/Current Liabilities 10,043/9,529

= 1.05 7,503/19,979

= 0.38

Coupling Ratios

2009 2008

Borrowings on the Long Term 40,462 45,055

Invested Capital + Long-Term Debt 84,293 65,693

Capital Gearing Ratio = L.T.Borrowings/Equity + L.T.Borrowings x 100 40,462/84,293 = 48.00% 45,055/65,693 = 65.69%

= 68.58%

Profit d'exploitation 7 506 10 194

Interest Paid totaled 809 1,414

Interest Coverage Ratio (Times) = Operating Profit/Interest Paid 7,506/809

= 9.28 10,194/1,414

= 7.21

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Lincoln Electric Company’s Reward System English Essay Help Online

Introduction

This study examines Lincoln Electric's incentive reward system, which has been researched and replicated by other corporations worldwide. The incentive system compensates workers based on the quality and quantity of the things they generate through piece work rates. The earning potential of employees is measured by how much they can generate in a given amount of time. According to Buller & Schuley, their wage rate is the highest in Cleveland among industrial workers (2003). This research aims to determine why this reward system is underperforming and what may be done about it. In addition, it will describe how management must contemplate a transformation process in order to position the company's incentive structure for the future.

System of Rewards for Incentive at Lincoln Electric

The earning potential of Lincoln Electric personnel is defined by how much they can generate in a given amount of time. Their salary rate is the highest among industrial workers in Cleveland (Buller & Schuler, 2003). The incentive system includes an annual bonus based on a system of merit-based rewards. Annually, there are two evaluations, and the typical maximum score of 110 is utilized to compute the bonus at the end of the year. These employees are beginning to complain that their bonuses are not increasing quickly enough; they do not view them as rewards, but rather as compensation. In order for awards to be effective, they must be desired by the employees.

Lincoln Electric techniques in management

As there is no routine supervision and there is an open-door policy, the employees self-manage. It is noteworthy to notice that there are typically three levels of supervision between manufacturing employees and the firm president (Lincoln Electric, 2011).

Internal and external announcements are made initially for entrance-level positions. There are no aptitude or psychological tests administered during the interview process; there are only one-on-one interviews with a panel of vice presidents and supervisors; the supervisor makes the final selection. It provides employees with job stability in that, after three years, they will be offered permanent employment. Since 1948, there have been no layoffs despite the economic crises that resulted in numerous job losses and business closures.

The results of the twice-yearly performance evaluation are utilized to decide the annual bonus amount. Workers are compensated on a piecework basis, where the quantity and quality of their output determines the amount of earnings they receive. In the event of inferior goods production, the employee is required to redo the products or pay for the loss. When the factory is closed for two weeks in August and another two weeks at Christmas, the staff go on vacation. However, there is no paid leave, and if an employee is absent or sick, they are not compensated for those days.

As a result of the advisory board's supervision, the work atmosphere at Lincoln Electric is very autocratic and worker engagement is minimal. The employees submit their proposals to the board, which then presents them to management and puts the responses on bulletin boards for all employees to view. The management believes that if workers are allowed to participate in most decision-making processes, they will become lackadaisical and unfocused, which would not benefit Lincoln Electric. They feel that providing workers responsibility constitutes including them in the decision-making process. According to Buller and Schuler (2003), proposals from employees are disregarded if they do not directly benefit the organization.

The majority of factory personnel receive in-house training when they join new work stations. The management believes that it is unnecessary to spend money on external training for staff that will not benefit the organization. Lincoln Electric offers a retirement plan and health insurance to employees who have been with the company for at least three years. Employment Association provides disability insurance as well as a fund for workers' activities. The cafeteria provides food at a discounted rate for all employees, including senior executives. This is one of the rare companies where executives have no special advantages such as private parking, lunch rooms, or executive office suites.

Included in the incentive scheme is an Employee Stock Ownership Program through which employees can purchase company stock at a discount. It is only available to employees with at least three years of service. The company's basic objective and vision emphasize the importance of customer happiness, employee satisfaction, and shareholder accountability. A satisfied employee may provide exceptional customer service, however a dissatisfied employee is a nightmare for the organization. If Lincoln Electric's employees are dissatisfied, management must remedy the matter before it's too late. There are numerous areas in which the organization may improve to attract and keep satisfied employees.

The management may ask why such highly compensated staff with generous end-of-year bonuses are complaining. Lincoln Electric does not permit idle time or coffee breaks; employees self-manage their work, and everyone is always extremely occupied. The workers do not even interact, and their lack of breaks might lead to burnout (Buller & Schuler, 2003).

Lincoln Electric's pay-for-performance incentives may not be effective since employees require both financial and nonfinancial incentives to be motivated. When people obtain employment, they appreciate the job pleasure, the chance to interact with others, and of course the pay. However, after a period, the income ceases to be the primary incentive, and without additional motivators, the employees are not productive. This is typical in industrial environments, where most of the job is repetitive and monotonous (Kerr, 2003).

Why this system does not operate in other locations

The management style of Lincoln Electrics has been imitated by several organizations, however the company's employees are now disgruntled despite their excellent incentive management strategy because the work environment has changed. This strategy may have been successful for Lincoln Electric due to its cultural background. Early work was characterized by a great deal of red tape and served as a means to an end, namely cash. Therefore, the pay-for-performance system worked effectively, and the harder one worked, the more money one made. Strong cultural habits might be difficult to eradicate in some organizations.

This method does not work elsewhere because the motivational dynamics have shifted in response to new work requirements and altered worker expectations (Kenneth & Walter, 2009). Money is the primary motive of Lincoln Electric, as evidenced by interviews conducted in Ohio's main factory around 1995. (Buller & Schuler, 2003). The fact that money is not the main motivator for sustaining excellent productivity and employee satisfaction is another reason why it does not work for other businesses.

According to O'Toole and Lawler (2007), modern employees have evolved; they now self-manage, invent, and adapt to suit client requirements. For these employees, it is necessary to integrate extrinsic and intrinsic customer satisfaction needs. These personnel evaluate their achievement based on the worth and efficacy of their efforts (Sirji, 1988).

Additionally, the nature of employment has shifted, with employees being expected to exercise greater discretion than in the past. Under Lincoln Electric's merit system, an employee loses points for absenteeism and other infractions. This serves as a de-motivational weapon for the employees, as an employee who has worked extremely hard will receive roughly the same bonus as one who has never been late or absent but has not worked as hard. monetary incentives are only effective when combined with non-monetary incentives (Reif, 1975).

Lincoln Electric lacks an organizational structure that specifies job descriptions and responsibilities. This organization provides workers with a feeling of direction and a goal to strive for, so serving as a source of motivation. There are just two jobs between the president and the workers in this corporation, leaving few chances for advancement.

Some of the company's methods have only remained effective for more than a century because its organization structure is solid and well-established. If these procedures were used now, they would not function as effectively or at all. Attempting to replicate this method elsewhere in the United States or around the world is futile, as workers everywhere are motivated by factors other than money, and because they would be new to the foreign markets, they would need to offer better working conditions to workers in order to penetrate the market.

External and internal rewards

Extrinsic rewards are external benefits that are typically provided by the employer, who also decides their amount and presence. Intrinsic rewards are ones that are internal, under the employee's control, and psychological as a result of high performance and meaningful job.

When combined with pay performance incentives, intrinsic rewards have a higher impact on employee motivation (Kenneth & Walter, 2003). Lincoln Electric could benefit from this if its employees are no longer motivated by monetary incentives. Workers are more driven by a sense of purpose and direction in their job, which is a sense of meaningfulness. When they feel that whatever they have done has been worth their time and effort, they will want to do it again (Beswick, 2007).

Choice enhances worker motivation by empowering them to determine the most efficient means to complete a particular activity. An employee will be more productive and motivated if they perceive progress in their task. Therefore, management should create routes for advancement and prospects for expansion (Dematteo et al., 1968).

Lincoln Electric exclusively provides in-house training and does not promote outside learning opportunities unless the subject matter is directly beneficial to the company. As an employer, the primary concern should not be limited to the employee's contribution to the firm; rather, the organization should also provide value to the employee's life by giving possibilities for all-around development. Extrinsic benefits can diminish intrinsic motivation, and in this case, Lincoln Electric employees are committed to getting the task done rather than to the job itself; the job is a means to an end (Heath, 1999).

Self-management induced intrinsic rewards boost employee concentration and output. The majority of intrinsic benefits are self-sustaining, whereas extrinsic rewards are not. In the event of a financial crisis, a corporation may reduce the number of hours its employees work, so reducing their income. Employees are motivated by motivation factors and hygiene factors, according to Herzberg's two-factor theory of motivation. Motivational factors are primarily concerned with the intrinsic incentives provided by the job's content, whereas hygienic elements are concerned with the job surroundings. Lincoln Electric management may assume that their staff need more monetary motivation than they do; they see nothing wrong with their management and are perplexed as to why their people are dissatisfied (Herzberg, 1966).

Recruitment procedures and Motivational techniques

Lincoln Electric employs professionals and college graduates. At the entry level for college and high school graduates, this group of employees is predominantly motivated by income. The vice president and supervisor of the division with a vacancy perform a brief recruitment and hiring procedure (Buller & Schuler, 2003). It appears that they specifically target those whose primary objective is money. This is unfair because there are individuals with qualifications who contribute significantly to the firm but leave after a short time due to dissatisfaction.

For employees to be satisfied and highly motivated, management must provide overall rewards, such as remuneration, perks, work-life balance, and development opportunities (World at Work, 2006). There is interaction between the employee and the employer in the workplace. The employee offers time, talent, and output, while the employer provides the desired total compensation.

An employee at Lincoln Electric receives a salary/wages, a bonus, and other perks such as medical insurance. The employees only receive time off when the company is closed for two weeks in August and two weeks during the Christmas holiday. Every management should be concerned about the work-life balance of their employees, because if things at home are not running smoothly, the employee cannot be productive. Therefore, it is essential that employees are permitted to organize their vacation days to attend to personal matters and are not required to adhere to a rigid schedule between August and December.

Career advancement should be an integral aspect of the organization's objectives. There should be sufficient training opportunities available to enable individuals to assume a variety of responsibilities within the firm. According to Maslow's hierarchy of requirements, a person whose basic and safety needs have been addressed strives to meet their esteem needs; in this category, a worker seeks acknowledgment, affiliation, and status.

This demand can be satisfied through promotions at work, however Lincoln Electric does not offer them, possibly due to a lack of a defined organizational chart. It is a reflection of an individual's sense of self (Leonard et al., 1999). Self concept is an additional source of motivation for employees and is comprised of their traits, beliefs, and conceptions. Since self-perception impacts how a person works, which is influenced by his environment, an employee whose management at Lincoln Electric has not changed in a long time will experience a change in self-perception.

Appraisal systems

At Lincoln Electric, supervisors from several divisions conduct evaluations twice a year. Through these evaluations, the supervisor assigns merit points that are utilized to determine the annual bonus, with reliability, inventiveness, quality, output, and cooperation serving as the evaluation criteria. Individual performance should be tied to the goals and objectives of the organization. Self-evaluation should also be a part of the evaluation process, and it should give functional feedback. It is possible that Lincoln Electric's evaluation system is invalid since it does not measure all parts of the job (Success Factors, 2011). It should have explicit performance requirements, such as metrics for measuring dependability and originality, among others.

According to Caruth and Humphreys (2008), a performance evaluation should have eleven characteristics. These include formalization, standards and measurements, validity, dependability, open communication, skilled appraisers, ease of use, employee access to results, and mechanisms for review and appeal. This ensures that evaluations are accurate and genuine in every respect.