Global And Local Market Place In A Changing World Essay Help For Free

Table of Contents
Introduction Text main Concluding Works Cited

Introduction

The World Trade Organization (WTO) is currently one of the most influential institutions. As the successor to the General Agreement on Tariffs and Trade, it was founded in 1995. (GATT). This multinational institution creates regulations for international commerce, oversees trade disputes, and enforces GATT agreements. According to the Marrakesh Agreement Establishing the World Trade Organization, the WTO's primary functions are to "facilitate the implementation, administration, and operation" of WTO agreements; to "provide the forum for negotiations among its Members regarding their multilateral trade relations"; to provide a dispute settlement mechanism; and to achieve "greater coherence in global economic policy-making" (Marrakesh Agreement Article III).

These responsibilities require rising living standards, providing full employment, maximizing the use of the world's resources, supporting developing nations, etc. Although the activities and objectives of the WTO are intended to promote free trade and economic prosperity, they frequently become a source of contention among the 151 WTO member states (On 27 July, 2007).

Principal text

Free trade encouraged by the WTO does not result in convergence of income levels between rich and poor members of the WTO; rather, it results in divergence, which means that rich countries become richer and poor ones become poorer. (Cline 264) Small nations may argue that they have minimal negotiating leverage compared to larger nations.

Despite the WTO's assertion that it safeguards the interests of developing nations, it frequently fails to govern the global economy impartially, defending exclusively the commercial interests of wealthy nations. According to Martin Khor, the director of the Third World Network, the WTO's notion that "we are all winners and there are no losers" is baseless. "Some have gained more than others, while others (especially the poorest countries) have not gained at all and may have suffered a significant loss in economic standing" (Martin Khor's presentation at Davos, Part I).

During the past two decades, just a few of nations have enjoyed economic development, whilst the vast majority have seen their living standards decrease. The principles of trade liberalization are imposed on all WTO members without regard for the nations' preparedness and capacity to implement them. It turns out that poor countries are perpetually plagued by financial instability, debt, and recession.

A country can manage the liberalization of its imports, but cannot limit the development of its exports, according to the law of trade liberalization. Trade liberalization results in an increase in imports without a matching increase in exports. This contributes to a widening of trade deficits and a deterioration of external indebtedness, both of which result in protracted stagnation and recession. Trade liberalization should be adopted in emerging nations only if they are characterized by robust local businesses and farms, human resource growth, and technological advancement. These nations should be able to make strategic economic decisions in areas such as finance, trade, and investment policies, as well as define the rate and breadth of liberalization essential for their economies to flourish.

To resolve this divergence between the established WTO principles of equality, "the rich countries must now correct the imbalances and inequities in the global trading system"; they should increase their market access to products from developing countries, but should refrain from pressuring developing countries to further open their markets. It should be permitted for developing nations to pick their own rate of liberalization" (Martin Khor's presentation at Davos, Part I).

Members of the WTO who are developing nations are dissatisfied with several Uruguay Round agreements that have worsened their economic status. After the signing of the Agreements, the dreams that developing nations had for a greater market access for their goods to the markets of affluent countries were not achieved. The following concerns contravene WTO policy and are thorny problems that require immediate resolution:

Certain exports from developing nations to developed nations are prohibited. Rich nations have the authority to maintain high import charges and quotas, so preventing imports from underdeveloped nations (for example, some food, and clothing). Contrary to their pledges to eliminate "tariff peaks," wealthy nations continue to exploit the high import levies on industrial goods exported by poor nations. Developing nations are dissatisfied with the rise of non-tariff barriers in developed nations. Anti-dumping measures and other non-tariff obstacles are permitted against the exports of developing nations. The United States opposes amendments to the Anti-Dumping Agreement, which appear to be a sensible path out of the current crisis. In affluent nations, agriculture is heavily protected, but developing nations are pressured to expand their markets. The Agriculture Agreement did not improve the situation in developing nations, as protection in wealthy nations remained extremely high, preventing exports from poor nations from gaining market access. Trade Related Investment Measures Agreement lowers developing countries' industrialization potential. According to the Agreement, developing nations are restricted from incorporating some foreign technologies into their domestic infrastructure. Among the technologies are pharmaceuticals and agricultural items. Concerning the dilemma of developing nations in the WTO, many of them are unable to follow the negotiations and participate actively in the Uruguay Round.

These are the most essential points on which developing nations may argue with other WTO members. To remedy the concerns stated, the WTO's operations should center on the examination of a large number of existing agreements: their shortcomings should be extensively studied, and special attention should be paid to determining their impact on developing nations, with the necessary adjustments made.

The relationship between trade, labor, and environmental concerns is an additional source of contention among World Trade Organization members. Increasing trade standards cause environmental degradation. Steve Charnovitz, former director of the Global Environment and Trade Study, asserts that "in the absence of proper environmental regulation and resource management, increased trade could cause so much negative environmental impact that the benefits of trade would be outweighed by the environmental costs" (Charnovitz). According to his research, "the scale, structure, and physical effects of trade can potentially harm the environment," but not all WTO members grasp this concept. The debate on environment, trade, and labor among WTO member nations remains divided. Charnovits proposes a set of initiatives to develop a unified approach in these fields:

Subsidies. On this topic, the WTO must collaborate with other international organizations: 1. governments must agree to phase out harmful subsidies. 2. governments must agree to prohibit some of these subsidies (in order to notify citizens in countries that use them). Members of the WTO should strictly adhere to the environmental management guidelines promulgated by the foremost standardization body, ISO. Fresh institutional measures. The WTO ought to coordinate its efforts with the World Bank, the OECD, the United Nations Conference on Trade and Development, the World Health Organization, the Food and Agriculture Organization, UNEP, and the International Labor Organization, among others. (Charnovitz)They will assist its members in reaching compromise on contentious issues.

The absence of a clear and effective decision-making system is a further source of discord among WTO members. In general, the following describes the decision-making procedure: The majority of regular issues are discussed in committees, councils, and other organizations. The procedure by which WTO members discuss, debate, and negotiate topics differs from the organization's reliance on consensus to make decisions (Blackhurst Part I). Large and influential developing nations often participate in the WTO's decision-making process, but all other members are excluded.

According to the Third World Network, the WTO is "probably the least transparent of international organizations" since "most, if not all, of its key decisions are worked out in informal meetings" and "in many cases, only a handful of countries are invited to these meetings" (Transparency, Participation and Legitimacy of the WTO). Not only do the largest developed countries receive the outcomes they want, but they also have the ability to veto problems they don't want brought up or don't agree with, even if it goes against the decision of the vast majority of countries.

Lack of adequate financial and human resources is the primary factor preventing the majority of developing nations from actively participating in the decision-making process. Even if they participate in negotiations on a particular subject, they are frequently pressured to make choices or take stances they disagree. The Third World Network insists on the following to alter this position of inequality:

"The processes of consultations, discussion, negotiations, and decision-making in the WTO must be made truly transparent, open, participatory, and democratic"; The civil society of each country-member should be informed six months in advance of any proposed changes to the rules, agreements, or commitments. "The planned and ongoing debates and negotiations at the WTO must be made public, and all members must be permitted to attend and participate. "The practice of small informal groups making decisions on behalf of all Members must end"; "Parliaments and Parliamentarians should be kept constantly informed of proposals and developments at the WTO, and they should have the right to make policy choices regarding proposals arising in the WTO that have an impact on national policies and practices"; "The practice of small informal groups making decisions on behalf of all Members must end"; "Parliaments and Parliamentarians should be kept constantly informed of proposals and developments at the WTO, Civil society should be appropriately apprised of the issues being debated and the current status of those conversations. Civil society organizations and institutions should be able to voice their opinions, and the WTO should respond. Thus, civil society will have the ability to influence policy outcomes and decisions. (The Network for the Third World)

Concerning the topic of WTO decision-making, one more authoritative opinion is of some interest. Richard Blackhurst contends that the model of decision-making established by the GATT does not meet the needs of the WTO at today. In the past, the GATT model was effective because fewer nations participated in the decision-making process and not all countries were required to adhere to the decisions.

According to Blackhurst, the most effective method to involve all WTO members in the decision-making process today is to establish a small Consultative Board tasked with fostering consensus on trade problems among WTO members. The author argues that for the approximately 90 WTO members who are consistently excluded from green room meetings, the campaign for reform is well worth the effort because the Consultative Board will ensure their active involvement in WTO decision-making. (Blackhurst)

Conclusion

As evidenced by the preceding, the World Trade Organization has a number of pressing concerns to address in order to live up to its standing as a significant organization in the modern world. A satisfactory resolution of the discussed issues will result in the organization's effective operation, which is contingent upon the achievement of its core objectives. Without a consensus, not only will the WTO fail to achieve its goals, but it will always be in risk of being labeled an illegitimate and undemocratic institution.

Sources Cited

"Reforming WTO Decision Making: Lessons from Singapore and Seattle," by Richard Blackhurst. Center for Economic Development and Policy Reform Research 2000. Web-based Working Paper No. 63.

"Addressing Environmental and Labor Issues in the World Trade Organization," by Steve Charnovitz. PPI Briefing, Progressive Policy Institute, 1999, web.

William Cline, Trade Policy and World Poverty. 2004: Center for Global Development and Institute of International Economics, Washington, D.C.

Steve Charnovitz, "Promoting Higher Labor Standards," The Washington Quarterly 18, no. 2 (1995): 167.

2008 Third World Network. Reconsidering Liberalisation and Reforming the WTO: Martin Khor's Davos Presentation

2008, Third World Network The WTO's Transparency and Legitimacy. Web.

International Trade Organization. Web resource for the Marrakesh Agreement Establishing the World Trade Organization.

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Nucor Corporation Strategic Management Essay Help For Free

Table of Contents
Introduction Small organizations and strategic planning Small business performance and strategic planning Common strategic planning pitfalls Bibliography

Introduction

Strategic planning refers to a company's process of defining its strategy (Bryson et.al.1988). The purpose of strategy is to fulfill the expectations of shareholders by allocating resources at the optimal level. Thus, strategic planning is concerned with the future operations of a business, and the decisions taken pertain to gaining a competitive edge. The strategic planning decisions align the organization's resources and actions with the external environment.

Thus, strategic planning is concerned with what a firm does, for whom it operates, and how it might excel. In strategic planning, the following approaches are utilized: SWOT analysis, PEST analysis, STEER analysis, and EPISTEL analysis (May, 2010). The SWOT analysis acronym stands for strengths, weaknesses, opportunities, and threats. The purpose of the SWOT analysis was to determine the organization's course in a tough environment.

It can be used to exploit the organization's core competencies and reveal potential dangers emerging from the macroenvironment. PEST analysis refers to the external environmental factors that have the potential to have a substantial impact on the success of a product or service (Rea & Kerzner, 1997). The PESTLE framework identifies political, economic, social, technical, legal, and environmental uncertainty as macroenvironmental factors.

STEER analysis incorporates the social, cultural, technological, ethical, inflationary, and regulatory variables that influence a company organization.

EPISTEL analysis refers to the environmental uncertainty, political, international, socio-cultural, technological, and economic, as well as legal, aspects that influence a business's operating environment (Lund & Marksade, 2006).

The strategic planning decisions are influenced by both the environment and the ideals established by the organization's shareholders. Existing customers, prospective customers, competitors, suppliers, shareholders, creditors, labor markets, labor unions, consumer organizations, employees, and international blocs are examples of stakeholders.

The Chief Executive Officer improves the Strategic planning process by his or her imaginative foresight. Strategic planning is typically a time-consuming and resource-intensive endeavor. Nevertheless, despite the difficulties inherent in strategic planning, the process brings numerous advantages to a company organization. This is because it helps to identify the future directions of the organization (Lieberman, 2010).

Small organizations and strategic planning

Small firms utilize strategic planning just as much as large corporations. When it comes to strategic planning, small enterprises must consider both dangers and possibilities. Small firms must consider how to acquire an advantage over competitors, what new market opportunities might be developed, and the extent to which this satisfies client needs (Rea & Kerzner, 1997).

In terms of strategic planning, the strategic concerns that small firms must examine include, among others, what products or services the business should offer based on competition and if the business should be a technology leader or follower. Small firms must also examine future-related factors, such as the nature of environmental changes and their potential impact on the company's operations (Lieberman, 2010).

Setting targets, such as offering value for money, etc., is one of the methods small organizations can use to guarantee that strategic planning results in actualized transformation. These goals should be specific, which implies that they should not be unclear. In order for strategic planning to be effective, small firms must also guarantee that the process is completed on time and that all individuals involved in the process are qualified (Bryson et.al.1988).

Small business performance and strategic planning

Strategic plans serve as a guidebook for small enterprises, instructing them on how to conduct their trade (Lieberman, 2010). As the business develops, the activities get increasingly intricate. Therefore, strategic planning serves as a reminder to small businesses regarding their goal and vision statements (Lund & Marksade, 2006). In this regard, strategic planning enables small businesses to establish standards for the distribution of resources, provide external parties with a unique perspective on the company's values and future directions, establish boundaries for objectives and strategy formulation, and also establish standards for performance and long-term multiple dimensions.

Strategic planning assists small enterprises to define their threshold resources, such as physical resources, that allow them to exist in a certain industry. It enables small enterprises to utilize their limited resources to handle competitiveness in the business environment. Physical resources, such as production capacity, people resources, and financial resources, among others, are required for small enterprises to successfully implement strategic decisions.

The cost efficiency of a small business is driven by a number of cost drivers, including economies of scale, supply cost, productive design, and experience. To provide value for money, small businesses must decrease expenses. Customers are only prepared to pay a particular price for things that provide value for their money. Strategic planning is essential for small firms because it enables them to control expenses and maintain affordable prices. Cost efficiency is the ratio of resources required to produce a given amount of value (Rea & Kerzner, 1997).

Strategic planning is essential for small firms because it enables them to measure their products and services against those of competitors, allowing them to outperform the competition. Strategic planning enables small organizations to utilize previous performance and industry standards, among other benchmarking criteria, in order to increase their efficiency.

Strategic planning allows small businesses to identify their key competencies and areas of expertise (Lieberman, 2010). Competence refers to the operations that offer an enterprise an advantage over its rivals. Core competence enables a business to establish crucial success elements for a specific consumer group more effectively than its competitors. To achieve this advantage, core competence must satisfy the following criteria: it must relate to an activity or process in the product or service that adds value in the eyes of the customer; it must result in a level of performance that is slightly superior to that of competitors; and it must relate to a customer-facing activity or process (Abraham, 2006).

Common strategic planning pitfalls

The random selection of the members who are involved in the planning process is one of the most prevalent difficulties associated with strategic planning. In some circumstances, participants in the strategic planning process lack the abilities essential to successfully implement the strategy (May, 2010). In order to avert such a scenario, the planning team must possess the necessary competencies.

Another typical error in strategic planning is perceiving the process as a single event. Strategic planning is a process that necessitates the participation of all stakeholders to ensure its efficacy (Lieberman, 2010). Strategic planning must also be included into the day-to-day operations of a firm; hence, managers view the process as fundamental to the success of a commercial organization.

Occasionally, planners lack the education necessary to build effective strategic plans. This therefore creates a problem for the performance of a company. Planners who lack a suitable education are unable to carry out their responsibilities successfully and joyfully (Lund & Marksade, 2006). Strategic planners must be educated in order to prevent this error from occurring. The training must be exhaustive in order to ensure that they are highly skilled.

Insufficient employee participation in the strategic planning process is also a significant obstacle. Employees must be involved in the process in order to contribute their important insight. It also allows the employees to feel as though they are an integral part of the process and to not resist its implementation.

In terms of the successful development of strategic planning, timing is also an obstacle. The planning group must to be organized and attempt to complete one task at a time. They should never permit the current year's strategies to be implemented with last year's resources. They can prevent this by ensuring that the timing tactics align with the budgeting procedure (May, 2010).

Inadequate knowledge regarding strategic planning is also a significant obstacle. During meeting sessions, management should guarantee that the planning team has the necessary information for strategic thought. Every participant in strategic planning should have the opportunity to present the information obtained during the meeting. This is vital because it guarantees that all members of the planning team are prepared with the knowledge necessary to develop a successful strategic plan and that all members has management abilities.

Conducting strategic planning sessions in the workplace is a further error that might prove detrimental. In most workplaces, i.e., offices, there are numerous interruptions that impede the proper completion of strategic plans. The lack of concentration compromises the quality of strategic decisions made. Therefore, the meeting location should not be a workplace, but rather a place with few distractions (Nalson, 2008).

Inadequate time allotted to the entire process is a further aspect that might lead to failure in strategic planning. Enough time must be allotted for the entire procedure to guarantee it fulfills the required requirements. The planning team should view planning as an investment that must be completed after discussions, therefore team members should not rush to speed up the entire process (Lund & Marksade, 2006).

Communication is crucial to the strategic planning process, and inadequate communication is a significant obstacle. Managers should ensure that their ideas align with those of their team members in order to ensure consensus. They should guarantee that all members participate by posing questions to the group.

Once a strategy has been devised, it should be communicated so that it is effectively implemented. Some individuals choose not to disclose the plan, which is a typical mistake because it prevents the employees from understanding their responsibilities in implementing the plans.

Other common hazards include resistance to strategy changes, failure to align strategic plans with the budgeting process, and failure to review previously developed strategic plans (Hulbert, 1987).

Bibliography

Strategic planning: A practical guide to competitive Success, by C. Abraham. Thomson/Southern Pacific is located in Stamford.

R. Bryson (1988). Strategic planning: opportunities and threats for planners American Planning Association, Los Angeles.

Hulbert, O. (1987). Strategic corporate planning. Columbia University Press, New York.

Lieberman, C. (2010). Journal of Strategic Planning for Organizational Success. Durham: Web Design Firm in Durham.

Lund, M. & Marksade, S. (2006).

10 Steps to Strategic Planning Success

Society for Training and Development in the United States Cengage Learning is based in Stamford

May, M. (2010). Planning for Success US: Business Expert Press.

S. Nalson (2008). The strategic planning of outcomes. University of Alabama Press, Alabama.

Rea, P. & Kerzner, H. (1997). Strategic Planning: A Guide to Practice John Wiley & Sons, New York.

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Dubai Electricity & Water Authority’s Logistics Essay Help For Free

Hypothesis

A supply chain and operations management system is required for DEWA to enable the procurement of efficient equipment and the hiring of efficient maintenance contractors, as well as the management of costs and the enhancement of asset life cycles.

Literature Review

The control of the flow and storage of raw materials and services from the producer to the point of consumption is supply chain management. According to Harvey, Heineke, and Lewis (2016), many philosophers, scholars, professors, merchants, business personnel, and managers attest that supply chain management is a process involving designing, planning, executing, monitoring, and controlling the supply chain activities with the specific objective of achieving the net value, leveraging the global logistics, building a competitive infrastructure, synchronizing customer demand, and quantifying performance across the globe.

When people complete the supply chain management specialization, they will have a stronger awareness of the complexities that organizations face in the global economy of the present day. Moreover, this method enables managers to realize their everyday challenges and comprehend the relationship between the global economy and the flow of information, products, and financial issues to the nation, continent, and world at large.

In accordance with the aforementioned facts, this article will discuss key components of the chain management system of DEWA, the Dubai energy and water authority. Asset management, cost effectiveness, information technology system, equipment selection procedure, contractor management, internal management procedure, cost effectiveness, and purchasing processes are the entities included.

Cost Management

According to Greeff and Ghoshal (2014), it is essential to provide relevant and appropriate information on energy distribution in order to support logistical management decisions and expenses. Therefore, information on DEWA's provision of water and electrical services to clients must be properly stated. Individuals are capable of managing both logistical costs and services in the absence of supply chain management. However, they pertain to the size and position of supply chain members. Frequently, small and medium-sized businesses lack the fundamental cost accounting methods required for the management of DEWA's service centers and logistical costs.

Asset Management

Shen (2014) identifies asset management as a crucial step for sustaining the efficient and effective use of organizational resources. DEWA adheres to the supply chain management policy and the public financial management legislation to guarantee that investments are managed, controlled, and recorded effectively (Shen 2014). Consequently, the function of supply chain management is to determine the products to be acquired, the procurement methods, request bids, analyze them, award the contract, and confirm the essential items for the administration of the power distribution company's construction projects. In contrast, asset management assures compliance with asset management regulations and supply chain management policy, as well as supervises asset management (Gestring 2017). In addition, asset management manages the organization's asset records, delivers monthly reports, and conducts periodic capital assets stock takes.

Utility Company

According to Iritani et al. (2015), supply chain management is concerned with the flow of information and products from one chain participant to the next. Recent technological discoveries, implementations, and advancements have facilitated the free flow of information on their premises. The technology has aided in the coordination of supply chain-required tasks. Due to the exponential growth of technology and technological users, the cost of data has reduced considerably (Iritani et al. 2015). This circumstance has increased pressure on DEWA's electricity supply and delivery.

According to the integrated supply chain management model, it is quite evident that information technology encompasses not only computers, but also data recognition equipment, factory automation, communication technology, and a plethora of devices belonging to service providers.

Before the 1980s, the movement of information from one functional area to another was conducted on paper, according to Stadtler and Kilger (2015). This procedure was slow at the time. Since its relevance in supply chain management was not understood, information was regarded as a crucial competitive resource. Information communication technology capabilities provide a competitive corporate position, including initiatives such as cycle time reduction and improved cross-functional procedures deployment (Gestring 2017). Many organizations active in the supply chain with information technology encounters share three characteristics: a corporate focus with customer happiness, efficient and effective customer service, and an emphasis on information security (Mackelprang et al. 2014).

Managers can reduce human resource requirements and inventories to a competent level using information technology. Lastly, information flows effortlessly within the organization, allowing for strategic planning that is both efficient and simple. Each organization that participates in supply chain management initiatives has a specific function.

Meredith (2016) asserts that power is the most important aspect of the supply chain. For example, over the past two decades, the power has shifted from manufacturers to retailers. Due to technological advancements, retailers have risen to the top of the industry. Developing and maintaining supply chain management requires consideration of both hardware and software. In this situation, the hardware comprises the storage media and computer input/output devices. The software, on the other hand, includes application applications and the full system utilized for processing, controlling, strategic planning, decision making, and transaction management.

Procurement Selection Method

Ndiaye (2012) indicates that selecting equipment entails more than simply comparing the pricing of the necessary products. The selection is based on a variety of aspects, including dependability, quality, and cost-effectiveness, as well as services. However, the selection of these goods depends heavily on organizational priorities and services. Throughout addition, the strategic approaches utilized in the supply chain and product lifecycle are essential for assisting managers in comprehending the purchasing decisions of their target clients.

Operations Management

According to Shah and Singh (2013), good supply chain procedure has become a crucial factor in modern organizations, not only for ensuring the overall supply chain management process, but also for boosting organizational performance and obtaining a competitive edge. According to Ayers and Odegaard (2013), supply chain operations encompass three macro-management processes involving suppliers, customers, and internal supply procedures.

To compete successfully, the organization must collaborate and integrate the aforementioned macroprocesses effectively (Wang et al. 2015). Internal management practices not only focus on decreasing overhead costs, but also require all business units inside the corporation to become more innovative in meeting consumer requests and ensuring their happiness.

Bibliography with Notes

I. Gestring. "Life cycle and supply chain management for sustainable bins." Procedia Engineering, volume 192, issue 1, pages 237-242, 2017.

Aim

This essay is to assess the significance of effective life cycle and supply chain management strategies in contemporary organizations. According to Gestring (2017), supply chain management and logistics are among the most complex and cutting-edge ideas in the modern business world. The distribution of power has expanded significantly as a result of a rise in worldwide commercial demands. DEWA employs supply chain management to cut costs and continuously develop new methods to satisfy customer demand and achieve competitive advantages.

Summary

Supply chain management essentially comprises delivering products at the specified time and in the appropriate quantity and quality. SCM ensures the management of outward and inbound logistics processes and integrates it from item procurement, manufacturers, suppliers, warehouse, transportation, and the storage of things to satisfy client expectations (Gestring 2017).

In light of the intensifying rivalry on the worldwide market, consumers have diverse preferences and requirements. For instance, the majority of technical items rely on electricity to work. This premise suggests that the power company should meet customer needs by maintaining a consistent supply of electricity and adequate distribution. In such a process, the key function of supply chain management is to determine the precise moment when specific services are in high demand among consumers. To enable the provision of meter boxes, transformers, and other necessities for the installation and distribution of energy, the power company must comprehend the end-user environment's dynamics.

Evaluation

Historically, the situation was different. Manufacturers were the primary determinants of the supply chain since they strove to meet consumer expectations quickly. However, things have changed dramatically in recent years. Long-term competitive advantages are now determined by the consumers in the supply chain. For instance, a review of power use over the past few years reveals a growth in the number of consumers. This position may be attributed to the ever-increasing population, but the rapid advancement of technology and the proliferation of energy-hungry devices have tripled the consumption of electricity. This circumstance necessitates the involvement of more contractors in the development of additional infrastructures to supply energy to consumers.

Conclusion

Supply chain management is an essential activity for determining the inflow of products for the identification, acquisition, transportation, and delivery of goods and services to consumers. It also enables managers to establish the exact period and market from which more specialized products are necessary. In addition, supply chain management offers the company with a framework for minimizing the cost of obtained commodities by optimizing the storage and consumption of acquired products. Additionally, the management can determine the pace of item consumption.

Lastly, this method enables senior officials to comprehend the growing demand for their products and services. Businesses that maintain efficient supply chain and life cycle management strategies are believed to advance their operations.

Bibliography

Ayers, J., and Odegaard, M. (2013). Retail supply chain management. Boca Raton, FL: Auerbach Publications.

Gestring, I 2017, ‘Life cycle and supply chain management for sustainable bins’, Procedia Engineering, vol. 192, no. 1, pp. 237-242.

Practical E-manufacturing and supply chain management, Newnes, Oxford, 2014, Greeff, G., and Ghoshal, R.

Professional service operations management (PSOM), Journal of Operations Management, vol. 42, no. 1, pages 4-8, 2016.

Iritani, D., Silva, D., Saavedra, Y., Grael, P., and Ometto, A. (2015). Sustainable strategies analysis using life cycle assessment: a case study in the furniture sector.

Mackelprang, A., Robinson, J., Bernardes, E., and Webb, G. (2014). The link between strategic supply chain integration and performance: a metaanalytic evaluation and implications for supply chain management research.

Hopes for the future of operations management. Journal of Operations Management, volume 19, number 4, pages 397-402.

Advanced Materials Research, vol. 445, no. 1 (January 2012), pp. 601-606. Ndiaye, M. (2012). "Material Selection and process design optimization framework under closed-loop supply chain."

Shah, J., and Singh, N. (2013). Internal supply chain performance benchmarking: the development of a framework. Journal of Supply Chain Management, volume 37, number 1, pages 37 to 47.

Sustainable fashion supply chain: lessons from H&M. Sustainability, vol. 6, no. 9, pp.

2015 Springer publication of Supply chain management and advanced planning by H. Stadtler and C. Kilger.

Service supply chain management: a review of operational models, European Journal of Operational Research, vol. 247, no. 3, pp. 685-698, 2015.

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Supply And Demand Principles Essay Help For Free

Describe the price and quantity of milk when the following events occur.
A scientific study indicates that milk drinking is excellent for bone health.

If a scientific study demonstrates that milk drinking is excellent for bone health, market demand for the item will increase. This study might influence the purchase decisions of customers, leading to a greater willingness to consume milk for its beneficial effect on bones. If the milk supply remains unchanged, a rise in demand could result in a milk shortage and a price hike (Andreyeva, Long, and Brownell 216). Scientist studies that demonstrate the significance of a given commodity serve as marketing techniques for the connected items; as a result, they contribute to an increase in demand for the commodities.

An outbreak of mad cow disease has occurred.

If an outbreak of mad cow disease occurs, consumer behavior would shift and milk demand would decline. Because the majority of customers would equate milk consumption with the disease. It would result in an increase in the volume of milk available on the market, and as a result, its price would decrease. Consumer behavior is significantly influenced by market reviews of a product; hence, connecting a product with the spread of a serious disease, such as mad cow disease, can have a substantial negative impact on its sales (Mills and Law 76). It is feasible for there to be zero milk sales under this situation.

The cost of almond milk falls.

If the price of almond milk decreased, it would provide a feasible alternative to cow milk, and its health benefits would entice more consumers to switch to almond milk. It would ultimately result in a decline in the demand for cow milk, and as a result, the price of cow milk may fall as retailers seek to increase sales. The availability of cheaper alternatives of comparable quality raises competition for related products.

The purchasing power of customers influences their consuming habits. Almond milk is a healthier alternative to cow milk, but its supply is limited, hence its price is much higher (Aaalami, Moghaddam, and Yousefi 243). If the price of almond milk fell to a point where most consumers of cow milk could afford it, they would prefer to purchase almond milk.

To encourage healthy families, a milk price cap is imposed.

The impact of implementing a price ceiling for cow milk would depend on the relationship between the price ceiling and the product's market price. If the price ceiling is less than the market price, cow milk demand would expand exponentially, resulting in shortages. In contrast, if the price ceiling for cow milk is higher than the commodity's market price, it would have no direct effect on milk demand and supply.

Price ceilings are designed to prevent the connected commodity's price from exceeding a specified threshold. This price control influences demand and supply curves directly if the price ceiling is set below the product's current market price (Engelmann and Muller 291). In such a scenario, more consumers would be able to afford the goods, hence increasing its demand and decreasing its supply. In spite of the decreasing supply, the price of the product is maintained below the ceiling; hence, the price of the product remains unchanged.

Suppose Johnny consumes four glasses of milk daily, regardless of the cost. What type of flexibility does it possess?

Johnny's daily consumption of four cups of milk, regardless of the price of milk, exemplifies exactly inelastic demand for the product. With this form of demand, the commodity's price has no effect on customer behavior. Customers continue to desire the same quantity of a product regardless of whether the price rises or falls (Andreyeva, Long, and Brownell 216). The majority of products with perfectly inelastic demand are necessities for customers; hence, they must acquire the same number of units regardless of price. In the majority of instances, these goods do not have cheaper alternatives that buyers can choose from. In Johnny's position, he appears to have few options; hence, he must purchase the same amount of milk regardless of the price.

Consider a scenario in which a 40% rise in the price of milk results in a 10% decrease in the percentage change in the quantity desired by consumers. Determine the elasticity.

Calculate the elasticity of demand by dividing the percentage change in quantity required by the percentage change in the related commodity's price. The elasticity of demand is -10% divided by 40%, which equals -0.25, given that the amount desired by customers and the price move in opposite directions. It is a flexible demand (Rios, McConnell, and Brue 34).

What happens to overall revenue when milk prices are raised? Why?

Due to the fact that an increase in the price of milk reduces its demand, revenue would fall. The retailers would lose 10% of their milk consumers for every 40% price rise, assuming that successive price increases had the same effect on demand. As the price increases, demand declines, resulting in decreased sales for milk producers and distributors ("Market Effects: Change in Demand," par. 1).

It would ultimately result in an excess milk supply on the market. The supply curve would shift rightward, whereas the demand curve would shift leftward. Assuming that the shift in the demand and supply curves has no effect on the price, a bigger price increase would result in a relatively low amount of income for the milk business, since more consumers would be unable to afford the product.

Changes in the market price always result in a shift in the demand and supply of the linked items; hence, a decrease in milk demand would result in a decrease in milk sales from the level of milk production to the retailers. The sale of commodities generates revenue, and a decline in milk sales would reduce the profit margins of producers and retailers that distribute the product.

Assuming Milk is a complement to a complementary product such as cereal, the fall in milk demand could result in a decrease in demand for certain of its complementary products, such as cereal. If consumers cannot afford milk, they do not need cereal. It would lead to a further decline in revenue. Any product related with milk would be less popular in stores if milk's demand decreased dramatically.

The shift of the connected items' demand curve to the right would result in a fall in their respective pricing and an increase in their supply. The determined value of milk's demand elasticity is -0.25, which is smaller than -1, indicating that milk is an elastic product. When the milk price climbs. Because the product would impact the sales of its complements, the total revenue is guaranteed to decline.

Sources Cited

Aalami, H. A., M. Parsa Moghaddam, and G. R. Yousefi. Demand response modeling taking interruptible/curtailable loads and capacity market programs into consideration. Applied Energy, 87, 1, 243-250 (2010). Print.

Andreyeva, Tatiana; Long, Michael W.; and Brownell, Kelly D. The effect of food prices on consumption: a review of the literature on the price elasticity of food demand. Print version: American journal of public health 100.2 (2010): 216.

Engelmann, Dirk, and Wieland Muller. "Conspiracy through price ceilings?" Seeking a focal point impact. Journal of Economic Behavior & Organization, Volume 79, Issue 3 (2011), pp. 291-302. Print.

Market Effects: Demand Change 2015. Web.

Juline Mills and Rob Law. Consumer behavior, tourism, and the Internet: a handbook. 2013 printing of London's Routledge.

Rios, Manuel C.; McConnell, Campbell R.; and Brue, Stanley L. Economics: Principles, challenges, and policies. 2013 edition published by McGraw-Hill in New York. Print.

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Toyota Company’s Mission, Vision And Competition Analysis Essay Help For Free

Toyota will be a leader in the future of mobility, enriching the lives of people all over the world with the safest and most responsible modes of transportation. Through our dedication to quality, ongoing innovation, and stewardship of the environment, we hope to exceed customer expectations and be rewarded with a smile. We will achieve difficult objectives by utilizing the talent and zeal of people who believe there is always a better way (Ledwidge, 2012, p. 150).

A company's mission and vision provide a channel for expressing its purpose and values to its stakeholders (Brown, 1998). This communication is intended for the organization's stakeholders. They may include employees, customers, investors, and even the government. Every business will strive to display these statements at every opportunity so that they are easily comprehended, disseminated, and accepted. When employees know the mission and vision of an organization, they are more likely to comprehend, design, and implement a clear strategy. The company's mission and vision serve as the foundation for its strategy.

A company's success or failure is ultimately determined by its strategy. Typically, the mission statement is audacious, whereas the vision is more specific in order to guide the company in the development of clear strategies. One could say that the vision statement is the bridge between the mission statement and an effective strategy. Toyota's "moving forward" strategy demands the company's management to seek more inventive and environmentally responsible ways to amaze their customers. This has certainly worked for the company over its seventy-five years of existence, as it continues to thrive and provide excellent customer service (Halliday, 2005).

The five forces of Porter can be used to analyze Toyota's competition. First, the threat posed by new entrants can be described as modest. The manufacturing industry is extremely risky and expensive (Henry, 2008). Initial funding requirements can be very expensive. The climate in which Toyota operates is competitive.

Alternatively, Toyota has an advantage. The corporation has a formidable brand that is not readily shaken. The corporation has a global market presence that essentially provides it an advantage over any potential new entrants. In terms of the threat posed by substitutes, the company is averagely threatened. Due to the economic slump in the world's major countries, car buyers have shifted to the used car market, which threatens Toyota's capacity to preserve its market share. However, unlike its competitors, the corporation can slash costs with relative ease (Halliday, 2005).

The corporation has and will continue to reduce the price difference between its vehicles and used vehicles. Therefore, the threat of substitution poses less risk to the business. Thirdly, the corporation faces a significant challenge from its rivals. The majority of automobile sectors are often characterized by oligopoly. Competition for a sizable portion of the market is ever-present due to the fact that customers' expectations are always high and they anticipate price reductions at all times. Toyota possesses significant strengths, yet it is not devoid of problems. As a result of the recent natural catastrophes in Japan, where the majority of its plants are located, it is currently under pressure. Together with the discounts offered by other competitors in the United States, this may necessitate the development of cost-reduction methods.

Toyota is still the market leader in low-cost manufacturing, forcing its competitors to alter their business practices (Halliday, 2005). The purchasing power is also moderate. With the rising cost of fuel, people increasingly desire fuel-efficient vehicles (Henry, 2008).

In a sector where the buyer has a broad range of market options, the buyer will have significant negotiating leverage and low switching costs. However, Toyota's cost-cutting measures reduce buyer influence, making its products more likely to sell than those of its competitors. Fifthly, the given energy is inadequate. Toyota operates in a market where there are more producers than providers.

Multiple producers receive materials from the vendors. However, manufacturing corporations require extremely high quality and standards in their contracts. If the supplier fails to meet the criterion, the manufacturer will switch suppliers. Toyota Inc. benefits from the positive relationships it has with its suppliers. It has an effective method of monitoring supply, thus its suppliers have little negotiating leverage.

In this study, a variety of Toyota's internal elements, or strengths and weaknesses, will be examined. Toyota boasts some important strengths. One of them is the fact that the brand is established. Toyota is universally recognized as the foremost manufacturer of reasonably priced automobiles. Second, Toyota is known for its inventiveness. The organization continues to innovate technologically. The organization closely studies industry developments and customer behavior. The firm was a pioneer in the mass production of gasoline-electric hybrid vehicles, selling over two million in 2010 alone. Thirdly, the corporation continues to profit from its manufacturing efficiency, which has reduced costs and raised profit margins.

Toyota has maintained positive relationships with its suppliers. Fifthly, the corporation has an established organizational culture and is proud of the employees' exceptional loyalty. Management at Toyota empowers all employees and creates opportunities for each employee's continuous progress. Toyota, like every other business, has several weaknesses. First, the corporation is the most affected by the natural disaster in Japan due to its big size and massive production in the country. Second, the decline in Toyota's market share is a significant flaw. In 2011, GM and Volkswagen outsold Toyota in global sales with over two million vehicles each. The third problem is the excessive frequency of recalls; in 2010 alone, 8 million trucks were recalled. However, Toyota has vast potential available to it. The first opportunity is the emerging and untapped market in China and other regions.

This market gap presents a sales expansion potential in these markets. This increases cost-effective production. The other opportunity is the evolution of customer tastes. Now, consumers desire fuel-efficient and inexpensive vehicles. This niche is a chance for Toyota to become the market leader in this space. The corporation faces threats as well. Initially, the ongoing aggression of the Japanese Yen's value is a negative development. Such a development will boost the automobile manufacturer's production costs. This will result in reduced profit margins. A second factor is the natural disaster. Toyota's sales will be severely impacted if a catastrophe reoccurs.

The third element is the rise in fuel costs. As a result of the spike in fuel prices, the majority of Toyota buyers will choose for more economical options. This may deny the corporation a large portion of the market. One suggestion for Toyota is to take advantage of its early leadership in the marketing of hybrid systems and electric-vehicle technology by acting aggressively. It is anticipated that every major automaker will attempt to enter this market. In this market, Toyota enjoys the benefit of being the market leader.

In the near future, nearly every automobile on the market will have a hybrid variant. This method reduces the threat caused by shifting consumer preferences. It also allows the corporation to capitalize on its position as market leader. Given its frequent negative press, another advice for Toyota is to prioritize the production of safe automobiles. This characteristic protects the company from recalls and negative press. The corporation may also contemplate acquiring smaller companies in sectors it has not yet entered, as doing so would allow it to reach untapped markets and bolster its position as the largest company.

As a result, the corporation benefits from the emerging markets and is protected from the weakness of low sales. Additionally, the company should separate the hybrid model and market it separately. Thus, it can attract a new clientele that associates the company with environmental friendliness. In light of the deteriorating economic climate, it may be prudent for the company to develop a new brand. Such a device would be inexpensive, extremely Eco-friendly, and speedy and safe.

This plan would protect the corporation against the threat provided by secondhand automobiles, as well as the threat posed by the current economic crisis. Consider a pricing strategy that will provide the company a competitive advantage over its rivals. Even though Toyota's per-vehicle manufacturing is extremely high, the corporation continues to experience tremendous sales. This will lead to limited large scale production. As a result, the corporation can reduce prices and generate profits even as its clients incur losses. The second tactic is product differentiation. Toyota should differentiate its products by developing inexpensive, fuel-efficient, and environmentally friendly automobiles. This is the most distinguishing characteristic of Toyota goods. The particular competency is the alternative strategy. This occurs when a corporation can produce something that its competitors cannot. Toyota can develop more affordable hybrid vehicles than any other manufacturer.

The future of hybrid vehicles is hopeful. Toyota will obtain a competitive advantage in the automobile manufacturing business if it adopts the distinctive competency as a strategic initiative. Information transmission has a crucial role in the business sector. To develop a successful plan, a number of challenges arise. The first question asks who your stakeholders are, why you need to communicate with them, what you wish to communicate, when you should communicate, which techniques enhance your communication the most, and what obstacles you have in communicating effectively with your stakeholders.

On the first question, a stakeholder is a person or organization who can influence or be influenced by a company's engagements. Toyota's stakeholders include of its employees, the media, consumers, and suppliers. After identifying the stakeholders, you partition them so that you may address the concerns of each stakeholder independently. For instance, you could divide them based on urgency. Management and staff are the most critical and urgent stakeholders to be aware of these plans, followed by suppliers, advertisements, the press, and customers. The second question concerns the necessity of communication. For each stakeholder, there is a corresponding response.

Given Toyota's announcement that it will pursue new market strategies, the business must notify its suppliers of the new product. In this instance, the production of a hybrid and relatively inexpensive new brand. Therefore, the company will require different supplies than those they produce. Even before declaring such a plan, the first individuals to be notified should be the suppliers, so they can confirm the cost of supplying the necessary raw materials and the quantity of raw materials they can create. The engagements of the organization should always be communicated to personnel. These personnel will be required to create the new product.

Therefore, staff should be informed of what is expected of them, as well as the timing and objective of the new product introduction. The objective of communicating with employees is to inform them of the new initiatives, their application inside the organization, and what is expected of them. Lack of employee engagement frequently results in low morale. This may even result in false information that leads to strikes and slowdowns. For the marketers, you must prepare them in advance so that they may design concise advertising campaigns in a timely manner. Press is always the connection between a corporation and its consumers. Therefore, the corporation should inform the press of its intention to launch the new products. This accompanies the advertising and tells the consumer of the product's arrival. The consumer is also informed of the product's characteristics.

It goes without saying that consumers will need to be made aware of the new product and its benefits. The third question concerns the information we desire to impart to our stakeholders. In this instance, Toyota is implementing a new strategy by introducing a new automobile brand. Immediate is the solution to the question of when to communicate with stakeholders. Thus, the company should be proactive in its approach to idea dissemination. Regarding the optimal mode of communication, the answer should depend on the target audience. After segmenting the stakeholders, the various mechanisms can be implemented. The modalities include, among others, advertising, face-to-face communication, memoranda, and a newsletter (Brown, 1998).

As a Japanese-valued company, Toyota's corporate governance is concerned with a diverse group of stakeholders. Employees, stockholders, suppliers, and customers are included. In contrast to most other businesses, Toyota is renowned for its high level of responsibility and does not limit its focus to shareholder interests. Theoretically, the rights of shareholders at Toyota are stronger than at the majority of other corporations (Demise, 2006). Shareholders are granted the authority to nominate and elect directors. Management compensation is determined at the annual meeting of the company's shareholders. Nonetheless, the shareholder has little influence over the board of directors' decisions. Work culture is another essential company governance strategy.

Again, the company has Japanese origins, and the likelihood of termination is typically high. Given that a fired employee or manager will have a difficult time finding employment, Toyota employees are far more diligent. This has contributed to Toyota's positive organizational culture and enhanced output, resulting in the company's growth. Therefore, it is prudent for the corporation to maintain a work culture largely derived from its Japanese heritage. However, it is recommended that the corporation alter its corporate governance structure by balancing Japanese values with contemporary corporate governance methods to reflect its worldwide status (Brown, 1998).

Since its founding, Toyota has endeavored to enrich the society in which it operates through its corporate social responsibility. Toyota has a fundamental guideline of sincerity and encourages the practice of fair play in its operations. An example would be a firm initiative to provide safe and environmentally friendly automobiles. Additionally, the organization has strong values. According to the company, one of its core values is striving to become a global leader in terms of rejuvenation. Additionally, the corporation strives to be a manufacturer of vehicles that improve the safety of its customers and the rest of the globe. Toyota adopted its own laws in 1992 in an effort to acquire the respect of humanity. They were meant to increase the company's awareness of the values and practices of all global people. This was to be accomplished by ensuring corporate duties were met in all operating areas.

The company's president was tasked with managing the newly-formed environmental department that Toyota created. Environmental initiatives at the organization have improved. The corporation has also launched an environmental awareness training program for its personnel (James, 2011). In addition, organizations recognize employees who have contributed significantly to environmental protection. Toyota has also sought cooperation and partnerships with several Asian organizations, including those in Thailand. In this instance, the corporation has provided equipment designed to detect landmines. In the United Kingdom, the company collaborates with the British Red Cross to raise awareness about traffic accidents (Halliday, 2005).

In 2001, the Reverend Jesse Jackson threatened to lead a boycott of the corporation over what were perceived to be racist elements in a post card the company had produced. The administration will apologize later for the event. It is evident that the corporation has set high ethical and corporate responsibility requirements. This audacious effort has led to the company's acceptance in every corner of the globe and has earned it respect as a good employer and a responsible business.

References

Brown, M. (1998). (1998). Enhancing your organization's vision. 18 Quality & Participation Journal, 1(2).

Demise, N. (2006). Corporate governance in Japan: The management, accounting, and market perspectives. Tokyo: Springer.

Halliday, J. (2005). Advertising Age, 76(8):33, cites Toyota as a company that flourishes under crises.

The author, A. (2008). Understanding strategic management. Oxford: Press of Oxford University

James, Timothy T. (2011). Reaping the benefits of green candy. 6 (9), 69-71, Engineering & Technology (17509637).

Ledwidge, J. (2012). The financial crisis and the need for a human revolution in banks. Internet: Universe Inc.

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Government: Stock Markets And Economic Regulations Essay Help For Free

Introduction

It is fundamental to every economic system that firms and entrepreneurs combine natural resources, capital, labor, and technology to manufacture and distribute goods and services for the well-being of the populace and economic growth. The manner in which these factors of production are arranged and utilized accurately reflects a nation's political beliefs and culture. The United States is frequently referred to as a "capital economy" in which a small group of individuals with the greatest capital control make economic decisions. To prevent the concentration of economic power in fewer hands, which could result in actions detrimental to a larger portion of the population, governments frequently intervene and install regulatory systems that govern the functions of various institutions and individuals in the economy so that they can effectively address social issues. This has made many global economies, especially the American economy, mixed. Although it has been difficult to define the role of the government in the management of the economy and to determine where the line between free market and government meddling lies, the early-adopted mixed economy has thus far performed well. However, there are times when it is necessary for the government to introduce new regulations to oversee and monitor commercial operations and institutions in order to prevent excessive acts that threaten the social welfare of other members of the economy. In this light, this article discusses the role of the government in enacting rules to manage the functioning of stock exchanges, a significant economic sector responsible for the expansion of business activity.

Government regulation of the American economy

While the United States holds up its free enterprises as a model for other capitalist nations to emulate by permitting businesses and individuals to act freely, it cannot be argued that the companies are completely free to operate in the economy. An intricate network of government rules governs and monitors the operations of enterprises and industries in order to mold them. It has been noted that the government publishes countless regulations affecting practically every level of business organization every day in order to dictate what firms should or should not do. There is no established government policy about the extent to which the government should regulate commercial activity, resulting in the tightening of some rules and the loosening of others. This has also resulted in ongoing discussions regarding whether and to what extent the government should define its role in the control of firms and organizations involved in business and industrial activity.

Laissez-faire versus Government Intervention

However, the practice of laissez faire has not prevented either the industry from seeking government assistance for the advancement of their business interests or the government from intervening in the operations of business enterprises in the form of various regulations governing the operation of such organizations. The government's assistance to the industries has on occasion taken the shape of protection against competition from foreign enterprises, in addition to subsidies and other concessions. For instance, the American agriculture industry, which is privately owned, has benefited greatly from government support. Numerous other industries have also asked for and received government aid in the form of subsidies and tax holidays.

On the other hand, government rules might take two forms: economic regulations and social regulations. Price control is the basic purpose of economic regulations. The economic regulations are also intended to safeguard consumers and smaller businesses. The protection of smaller firms is justified on the grounds that fully competitive market conditions do not exist, and thus there is always the risk of larger firms impeding the growth of smaller firms, which are also essential for a balanced economic development and to prevent the concentration of economic power in a few hands. Frequently, economic restrictions are enacted to safeguard businesses against what is referred to as "destructive competition" between businesses. The US government's "antitrust" regulations are instances of economic regulations aimed to safeguard the interests of smaller businesses.

Antitrust Regulations of the United States

The United States government's top objective has been to regulate monopolies that may operate against the public interest. Some huge organizations were able to engage in unethical business activities and evade market discipline by manipulating prices to the detriment of smaller firms by undercutting their prices, as well as by causing problems for customers in the form of higher prices and fewer product options. The 1890 passage of the Sherman Antitrust Act is a landmark in the history of economic regulation in the United States. This Act prohibits any business from monopolizing trading activities in any industry and prohibits any individual or business from collaborating or conspiring with others to impede commerce. In the early 1990s, the US government was able to break into the monopolistic trade activities of Standard Oil Company, owned by John D. Rockefeller, and several other companies that were found to be engaging in actions that were detrimental to the practice of free trade, thanks to the provisions of this Act.

In 1914, the US Congress passed two more antitrust laws to supplement the Sharman Antitrust Act. The Clayton Antitrust Act and the Federal Trade Commission Act are examples. The Clayton Antitrust Act was crucial in establishing a clear definition of conduct that constitutes illegal trade restraint. The Clayton Act prohibited the price discrimination that allowed certain buyers to take advantage of other enterprises. The Act also prohibited agreements in which manufacturers stipulated that supplies would be made to only those dealers who sold the company's products exclusively and did not deal in the products of rival companies or manufacturers, as well as certain merger and acquisition schemes that could have an impact on competition.

Under the Federal Trade Commission Act, a government commission was established to address issues relating to unfair and anticompetitive business activities that impede free competition.

However, it was felt that even with these new precautions, monopolistic trade practices could not be controlled. In 1920, the United States Supreme Court ruled in United States Steel Corporation v. United States that corporate size is not inherently undesirable, compelling the government and regulators to rethink antimonopolistic legislation.

The US government, through the Federal Trade Commission and the Antitrust Division of the Justice Department, continued its attempts to prevent firms from engaging in anticompetitive behavior. By preventing monopolies or mergers that may be damaging to the interests of consumers, these agencies keep an eye on any actions that may amount to monopolies. The following four incidents illustrate the U.S. government's efforts in this regard:

The Aluminium Company of America case, decided by a federal appeals court in 1945, established the minimum market share required for a company to be considered a monopoly. The court determined that a company with a 90 percent market share may constitute a monopoly. In 1961, a number of corporations in the electrical equipment industry pay a substantial amount of compensation for illegally charging customers higher prices through price fixing. This also led in the imprisonment of a number of the company's executives. The 1963 settlement of the Philadelphia National Bank lawsuit is another example of the government's anti-monopoly efforts. In this case, the Supreme Court of the United States declared that where a merger permits a corporation to control an excessive portion of the market and there are no evidences to show that such a merger would not be harmful to the public or other businesses, the merger is bad and cannot be legalized. In 1997, a federal court found that the merging of two major enterprises competing in two distinct economic markets could also result in anti-competitive situations, and the merger was subsequently abandoned. In this case, the court evaluated the merger between home office supply company Staples and building supply company Home Depot.

While antitrust restrictions were created with the goal of increasing competition, some economic regulations have the reverse impact in particular economic areas, limiting competition. This has severely hampered the chances of establishing an overall balanced economic development.

Deregulatory Actions of the United States Government

The transportation sector was the first to see deregulatory measures throughout the US economic development. During the presidency of Jimmy Carter, from 1977 to 1981, Congress passed various laws that had the effect of removing the majority of regulatory shields previously afforded to the aviation, trucking, and railroad industries. The enterprises in these industries were permitted to utilize any air, rail, or road route of their choosing and were free to determine their own prices for the services they provided. In this process, the Civil Aeronautics Boards and the antiquated Interstate Commerce Commission were eliminated. Although it was impossible to determine the effect of such deregulatory actions, they sparked enormous upheavals in the affected industries. Due to the rise of new companies and new services with various prices, clients were also confused. In spite of this, deregulatory measures helped sectors thrive, particularly the airline industry. The deregulation mostly affected the airline industry, which saw a boom due to a rise in the number of people using the air route for travel. This is shown by the fact that the number of passenger miles increased from 226,800 in 1978 to 605,400 million in 1997, a nearly threefold rise over the course of two decades (US Info).

Telecommunications Sector

As the regulated monopoly in the United States, American Telephone & Telegraph (AT&T) and its regional subsidiaries controlled practically all aspects of the telephone business in the United States until 1980. The deregulation of the telecommunications business occurred in two phases, beginning in 1984 when a court ordered AT&T to spin off its regional subsidiaries. However, AT&T maintained a large part of the long-distance telephone market. However, other companies such as MCI Communications and Sprint Communications were able to capture a portion of the market, proving that competition may lead to price reductions and enhanced services.

Banking

Even though banks are private enterprises like any other industry, due to the nature of their industry they are essential to the successful operation of the economy and can therefore affect the well-being of all members of society in addition to their own clients. Since 1930, the government of the United States has continued to control the running of banks for the benefit of society. One of the most essential components of these rules was the Deposit insurance, which was designed to safeguard banks from unforeseen bank runs. The Financial Services Modernization Act, 1999, which replaced the Glass-Steagall Act, was approved by Congress in the latter part of 1999. The new law granted banks considerable leeway to develop and provide new financial services products to customers.

The Stock Markets and the American Economy

The capital markets in the United States are the lifeblood of the nation's capitalism system. Companies typically rely on the stock market to raise capital for the building of infrastructure facilities and for the expansion of their regular business operations. The majority of the funding required for these endeavors is given by large institutions like as pension funds, insurance companies, banks, charities, and universities. In recent years, the involvement of families and individuals to stock exchange transactions has also increased. It is interesting to note that by the mid-1990s, forty percent of American households had participated in stock market transactions. Americans are proud of the efficiency of their stock and other capital markets, which has resulted in an increase in the number of daily transactions involving millions of dollars and sellers and purchasers of stocks. However, during the past few decades, the federal government has played an increasingly vital role in maintaining honest and fair stock exchange trade. As a result, the market has flourished as an ongoing source of investment that sustains economic growth and as a mechanism that enables Americans to share the nation's riches.

Controlling Stock Market Activities

The Securities and Exchange Commission (SEC), which was established in 1934, is largely responsible for regulating U.S. stock markets. The massive stock market crash of 1929 compelled the government to enact new laws, such as the Securities Act of 1933 and the Securities Exchange Act of 1934, primarily to protect the interests of small investors against frauds and to make it easier for small investors to comprehend financial reports of companies. This resulted in a meteoric surge in stock market transactions and the establishment of numerous stock exchanges, notably the New York Stock Exchange in 1792. The alterations in American stock markets brought about by numerous favorable and unfavorable legislative initiatives have allowed the New York Stock Exchange to become one of the world's leading securities exchanges (Answers.Com).

As a means of limiting its commission income, the New York Stock Exchange has requested a modification to the system for charging commissions on exchange transactions. The New York Stock Exchange desired to replace the minimal fixed commission with a transaction-based commission that required SEC clearance. It was discovered that the new charge scheme harmed smaller investors and benefited larger investors with high-volume transactions. (John Evans) The Securities and Exchange Commission outlawed fixed minimum commission rates on May 1, and the New York Stock Exchange hailed this as a major breakthrough for the US securities industry. But this decision was heavily criticized for being against the interests of small investors (NYSE Euronext).

Conclusion

Thus, the contributions of labor, small enterprises, agriculture, huge corporations, financial and stock markets, the Federal Reserve System, and the government have contributed to the efficiency of the American economic system. This research demonstrates that the role of economic rules cannot be minimized in this regard.

References

Answers.com entry for "New York Stock Exchange" John Evans, "Securities and Exchange Commission" on the web. Web. NYSE Euronext ‘Timeline’. US Info ‘Continuity and Change’.

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Starbucks Corporation And Its Social Challenges Essay Help For Free

Contents Listing
Introduction Considering issue Design and structure of the organization Leadership and management strategy for teams and teamwork Organization culture Conclusion Recommendations References

Introduction

Management is the process of completing tasks via the efforts of others in an effective and efficient manner (Agarwal 2008, p.302). These activities include planning, organizing, leading, and controlling; they are generally referred to as the four functions of management and are defined as follows:

Planning is the method by which a company determines its future actions (Hill and Jones 2009, p.381). In conjunction with the planning function, the organizing function guarantees that a company's available resources are utilized to the fullest extent and strategically distributed. Lastly, controlling is viewed as monitoring the progress in accordance with the initial plan and modifying where necessary if feedback indicates that things are not aligned with the plan (Mullins 2010, p.34).

Therefore, organization management is the act of building a relationship between people and resources in order to achieve particular aims and business objectives (Agarwal 2008, p.303). The five guiding principles of organization management are procedure, span of control, unity of command, homogeneous assignment, delegation of authority, and adaptability.

Organization management is a five-part process, with the first phase being the determination of the tasks involved. In this step, the nature of the job, the credentials necessary for the job, and the time required to complete the task are considered (Mullins 2010, p.35). The second phase is to subdivide big jobs into individual activities; the many possible tasks will be portioned as independent projects that may be carried out separately by different departments (Triplet 2007, p.3).

The third step involves assigning specific activities to individuals; at this point, the company must assess the capabilities of each worker before delegating available jobs. The tasks are matched to the individual and assigned to the individual who is best capable of efficiently completing the duties. The fourth element of the procedure is to give the available resources to assist individuals in completing assigned jobs successfully (Moyles 2006, p.176). Depending on the nature and difficulty of the allocated task, the organization offers the necessary resources. The last method entails building an organizational structure to define the strategy that will merge the many allocated tasks into one once they are completed and how the various organizational structures can collaborate (Picot et al., 2008, p.12).

Managers in an organization should recognize the significance of organization and management, which is the process by which people, diverse tasks, and technology are merged and coordinated to achieve organizational objectives (Triplet 2007, p.4). Bob and Lloyd must acknowledge that integrating the people, tasks, and resources in the fast-food business process is essential. Bob and Lloyd must achieve optimal utilization of the organization's resources in order to carry out all activities and implement their fast food company concepts (Triplet 2007, p.5). Establishing the policies and missions of the fast food industry and determining its structures should be the focus of organization and management (McNichol et al 2007, p.13).

Considering issue

If Bob and Lloyd thoroughly evaluate the organization and administration of their fast food business, their choice to open a fast food restaurant in Cambridge will be a profitable venture. In Cambridge's fast food business, their rate of success will be determined by the manner in which they establish their organizational structure, assemble their workforce, exercise leadership, and address organizational culture. To make strategic decisions for their new venture, Bob and Lloyd must carefully evaluate the following four factors (Chen 2004, p.5).

Design and structure of the organization

An organization structure is a system of interrelated jobs, job groups, and authority (Burstein 1991, p.327). An organization structure describes how personnel within an organization are classified into departments and how departments are grouped into an organization. It entails the creation of systems to provide effective communication, integration, and collaboration among departments. A typical organizational chart depicts formal relationships, such as the number of levels in a hierarchy and the span of control of managers and supervisors, as well as the structure of an organization (Schriber and Gutek 2010, p.642). Bob and Lloyd will need to choose an organization structure that reflects the range of control (Alder and Jelinek 2006, p.74). Each individual's function and responsibilities should be outlined in the fast food organization's structure.

The objective of an organization structure is to give a common reference that demonstrates the overall relationship between upper management, middle management, and lower level management (Murphy and Willmot 2010, p.268). Traditional organization structures always placed the CEO at the top, with everyone else grouped in layers according to department, but there are numerous current organization models that foster decentralization and adaptability. Even though there is no conventional organizational structure, Bob and Lloyd should adopt a structure that improves horizontal coordination and communication in order to promote change adoption (Burstein 1991, p.327). The horizontal organizational structure of the fast food company will decentralize decision-making. The organizational structure of an organization with three levels of management is depicted in the first diagram below. (Burstein 1991, p.327).

Three managerial levels.

One of the four factors that help a business build its organizational structure is job specification, which entails specifying the departments and their responsibilities (Barry 2000, p.33). The second strategy is departmentalization, in which positions are grouped and responsibilities are assigned in accordance with the company's objectives. The third aspect is span of control, in which the management takes into account the tasks at hand and the number of units and, as a result, combines the two factors in an advantageous manner (Chen 2004, p.6). The final component is delegation of authority, which introduces managers in charge of units and grants the authority to make decisions on behalf of the organization to the head of each unit. Bob and Lloyd should give decision-making authority to the fast food company's managers so that they may readily make decisions. Managers in each departmental unit should make decisions on behalf of the organization.

Collaboration and teamwork

For any management to be successful in reversing the organization's fortunes, they must promote a team-based strategy. Consistently, management gurus have asserted that a team outperforms an individual in terms of generating enthusiasm, maintaining concentration, and overcoming formidable obstacles. (Mullins 2010, p.46)

A team is a small group of people with complementary skills and a shared commitment to a goal for which they all feel responsible (Katzenbach and Smith 1993, p.68). Bob and Lloyd must ensure they adhere to the five team principles in order to establish a superior team for the hamburger fast food company.

The team for one must be small, two to twenty-five is an optimal quantity, because it is easier to work with a small number of individuals (Hill and Jones 2009, p.385). The second tenet is that the team members should possess complementary skills (Leitner 2004, p.35). The third principle stipulates that team members must share a common purpose and objective, which means that the team's objective and mission must be congruent (Hill and Jones 2009, p.384). The fourth principle is that the team must build a shared working approach in which the team pays attention to administrative and work-related details and each team member identifies their position in the team's work (Picot et al 2008, p.84). The final principle is that all members must be accountable to themselves and others in order to secure commitment and trust from other members (Katzenbach and Smith 1993, p.68). The second graph below illustrates a paradigm shift within a team system, often known as a team structure (Picot et al 2008, p.84).

Team structure.

For the sake of strategic team building, Bob and Lloyd should employ a committed, energized workforce by employing and selecting personnel with care. The fast food sector necessitates qualified, quick, and effective employees; anything less could result in the demise of the company (McNichol et al 2007, p.2007). Staffing corresponds to human resource planning; here, the organization should examine how many personnel are required, their backgrounds, credentials, and the cost of recruiting each one in order to carry out its objectives. Consideration must also be given to how to get the appropriate personnel, with recruitment considerations including education, experience, human relations, communication skills, and motivation among others (Northouse 2009, p.165).

The management should devise an elimination-based system for selecting the best applicants when undertaking personnel selection. Having a list of criteria and a score sheet for each candidate ensures that the organization's hiring rate is high (Baligh 2006, p.126). The company must define each interview, develop a plan, communicate with the interviewee during the interview, and establish a conclusion for each interview. Bob and Lloyd must perform a face-to-face interview to determine whether or not each employee have strong interpersonal skills (Chen 2004, p.7).

Motivation is a crucial part of any firm; if employees are not motivated, they are likely to decrease their output (Sekhar 2010, p.16). Examples of motivational elements include improved working environment, interpersonal interactions, compensation, job security, company policies, supervision, and management (Sekhar 2010, p.17). Bob and Lloyd should motivate their employees at the fast food restaurant by providing them with favorable working circumstances and by offering bonuses.

Leadership and management methodology

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

Second, employing a collective approach begins to establish a positive relationship with the community since everyone is represented. As a result, the institution develops the foundation for collaborations, which is beneficial to the entire community (p.58). A good leader will, in the most significant way, combine all members in a strategic approach to work collaboratively; the leader should also be intelligent and inspiring (McNichol et al 2007, p.104). Moreover, a leader should propose new techniques that are effective and will provide positive performance outcomes; this will serve as an inspiration for all members.

Manpower planning is the most effective method for implementing "imposed-incremental change" within a corporation (Cooper 2005, p.231).

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

The ability is intended to be useful when an organization has limited funds to spend, yet its tasks must still be carried out (Northouse 2009, p.168).

Well, the most effective method for enhancing one's leadership characteristics is to acquire skills in manpower planning, which will enable the regulation of projects and the establishment of a staffing structure to complete the duties.

A leadership mission entails determining long-term and short-term goals and assigning priorities to methods in order to attain successful leadership (Moyles 2006, p.178; Bass and Avolio 1993, p1). A strong leader should have a formula for strategy that focuses on the efficient allocation of resources, making judgments about diversifications, and accessing international marketplaces to combine and participate in an organization's initiative. A leader's strategy commits it to a defined vision, mission, and objective over an extended period of time, through which it is attained (Northouse 2009, p.169; Moyles 2006, p.179).

The success of implementing the policies is contingent on the capacity of the leadership function to persuade others to aid in the reworking of the plan (Moyles 2006, p.179) Redesigning enhances an organization's process and facilitates the leader's adaptation to uncontrollable external environmental limitations (Murphy and William 2010, p. 268). Bob and Lloyd should construct a strategy-supporting culture and a functional organizational structure in the fast food industry in order to achieve policy implementation (Moyles 2006, p.522). Bob and Lloyd must encourage the managers of each unit and the staff to discover ways to contribute to the implementation procedure (Normore 2010). Implementation involves personal discipline, commitment and sacrifice. This is due to the fact that the current state is regarded as unstable and involves the adoption of new systems by all parties (Picot et al 2008, p.86).

Organization culture

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

Organizational culture encourages the learning process. Today's organizations are under a great deal of performance pressure, which compels them to learn, change, adopt, and take ethically sound activities in order to meet the demands of the industry's competition and the diverse shareholders (Schriber and Gutek 2010, p.645).

According to McNichol et al. (2007), organizational learning culture can be approached in numerous ways. These are the three most prevalent varieties (p.104):

This refers to a culture of learning within an organization that is supported by either the team members or the leadership. Concretizing organizational learning culture: This occurs when the learning culture is grounded in actual processes and procedures, such as billing, logistics, and product creation (Mullins 2010, p.35). Leadership organizational learning culture: a technique that use leadership to foster learning inside an organization. This implies that the leader in the organization must study the organization's constraints, acknowledge them, and explore alternatives to improve the organization's performance in order to drive the learning process (Sekhar 2010, p.17).

There is pressure to keep up with evolving organizational learning patterns as the world around us evolves. In the past, individuals were not required to make quick decisions, however today they are required to do so in unclear scenarios. A learning organization is defined as an institution in which employees successfully transmit knowledge (Leitner 2004, p.89).

By attempting to develop an effective learning organization, the fast food industry will demonstrate its efforts to change its organization's culture. There are two ways to improve an organization's learning strategy. The first is a single-loop learning process that entails modifying the environment without altering the organization's structures (Chen 2004, p.8). The second comprises a twofold loop wherein new systems are implemented and the learning process is redefined and challenged (Murphy and Willmot 2010, p.270). Bob and Lloyd should come up with innovative concepts that will advance the fast food company and provide it a competitive edge in Cambridge. If it is a single loop, Chen (2004) states it.

7-Elleven: Workplace Health And Safety Essay Help For Free

Introduction

Health and safety are crucial concerns that every workplace must adhere to. An industry must achieve health and safety standards for the workplace in compliance with legal mandates and in order to operate and provide services effectively (Richardson, 2004). A workplace is a location where a variety of activities occur. Workplace Health and Safety Audits are always conducted to determine a company's level of compliance with workplace health and safety laws. Despite the fact that many businesses have limited potential for incidents, they do not comply with regulatory standards.

Synopsis of Seven Eleven

This Workplace Health and Safety Audit pertains to 7-Eleven, a large franchise corporation with several retail locations. This corporation offers a wide variety of services and products, including frozen beverages, packaged soft drinks, gasoline, and vehicle components. This company, which was founded in Melbourne in 1977, has over four hundred retail locations throughout Australia. The majority of these establishments are located in urban cores and operate primarily as petrol stations.

This organization is operated like a franchise, with the individual store managers reporting to area managers, regional managers, the chief executive, and finally the president. In addition to gas stations, additional retail establishments provide confections, newspapers, drinks, beverages, snacks, and gift cards. The average age of 7-Eleven employees is 35 years old. Although the majority of 7Eleven employees work during the day with varying hours and breaks, there are others that work late evenings and nights, particularly at gas stations.

This company has offices in numerous Australian cities and towns. Due to their position in city cores, some establishments lack adequate space allotment for their operations. In important business districts, there are refueling stations with tiny offices and stores offering lubricants, auto parts, and snacks for petrol stations. 7-Eleven has a negligible number of operational incidents. These accidents include, among others, minor injuries, exposure to toxic substances, particularly in gas stations, restricted working spaces (especially mechanics), and noise emanating from equipment utilized in cities, as well as injuries from working objects.

Standards of the Trade

7-Eleven falls within the category of retail industrial businesses. According to Australian skills information, a retail workforce consists primarily of youthful part-time workers with an average age of roughly 35 years. According to research conducted by the Australian safety and compensation council, the total verified injury rates in this sector are lower than the national claim rates for enterprises (Goldberg, 2008).

To embrace and implement all workplace health and safety regulations, 7-Eleven must comprehend legal obligations, codes of practice, and legislation, among other legal needs (Goldberg, 1998). Among these are the Workplace Health and Safety Regulation 2008, the Workplace Health and Safety Act, the Formwork Code of Practice 2006, the Hazardous Substance Code of Practice 2003, and the First Aid Code of Practice 2004.

In addition to legal requirements, it is also important to consider campaigns that emphasize the level of compliance within the organization. The management of 7-Eleven is responsible for ensuring that its employees have access to sanitary supplies. Better health and safety priorities that align with the existing retail business action plan and provide a clear indication of workplace health and safety requirements. Work plans and work method statements provide a forecast and potential methods for handling safety incidents in the workplace. In addition, education on fundamental health and safety issues is crucial, as having general knowledge about such things as protective equipment could result in a safer working environment for employees.

Some hazardous jobs arise at 7-Eleven, and the employees must be aware of the potential dangers that may occur from these tasks. Understanding such information is necessary for identifying the appropriate manual task. Managers must be instructed on subjects relating to supervision and security in 7-Eleven retail stores, as well as how to handle dangerous petroleum byproducts and other corrosive substances that are highly combustible or explosive (especially in gas stations). Aside from this, it is also vital to address the interaction between workers, such as workplace consultation and information regarding WHSO and WHSR.

According to published studies, managers find it difficult to comply with workplace health and safety rules. This is due to the finances allocated to this industry, the experience and resources available, as well as the time element (Houston & Falek, 2007). These issues impede full compliance among individuals engaged in this type of business.

Hazards

The most prevalent hazards and safety issues in this organization are associated with not wearing personal protective equipment during manual tasks, exposure to the sun, exposure to hazardous substances (petroleum, gas, and acids), confined working spaces, noise from machines, and going home late (which is risky for those who work late), among others.

The contents page.

SPECIFIC ZONE INVOLVED IN AUDIT METHOD/CRITERIA USED COMPLIANCE

Safety and health design Compliance with the 2007 risk management code of practice pertaining to certification principles, course of action, and process, with priority given to urgently required hazardous work. POOR: There is a lack of operational procedures or implementation, certification, safety and health monitoring, and administrative procedures.

Consultation

Consultation entails fostering collaboration and partnership between management and employees to guarantee WH&S compliance.

Workplace Safety and Health Act of 1995 ( in particular part 7 of the Act)

Workplace Safety and Health Act of 1997 There are available workplace health and safety committees, each consisting of around eight Workplace Health and Safety Representatives.

Multiple WHSR were selected in an employer-facilitated election.

WHSR are advised of potential changes to the workplace and are authorised to conduct workplace inspections.

Notices are available.

WHSO is in charge of inspections/audits.

Compliance with the Manual Task Code of Practice 2000 for Manual Tasks Conformity with:

Workplace Safety and Health Act of 1995

Workplace Safety and Health Act of 1997. Good and fair, with some safety measures in place. The risk assessment of tasks is minimal. The equipment is properly positioned, however tasks should be monitored by supervisors, which is not the situation here.

First Aid Conformity with:

2004 First Aid code of practice

Workplace Safety and Health Act of 1995

Occupational Safety and Health Regulation The locations of first aid supplies and first aid officers are clearly marked throughout the stores.

Appropriate quantities of first aid kits have been made available (5 in the administration building and 5 in the service areas). On each and every first aid bag, the phone numbers for emergency services are prominently displayed. That includes the fire department.

Conformity with 2004 Noise Code of Practice Poor: there is no noise measurement and no noise-generating zones are designated.

Workplace circumstance Compliance with the Occupational Health and Safety Act of 1970. Compliance with the 2007 risk management code of practice. Excellent; clean and well-organized workplace with adequate amenities and appropriate equipment, such as work boots and helmets.

Conformity with 2004 Noise Code of Practice Poor: there is no noise measurement and no noise-generating zones are designated.

Conclusion

Safety is essential because it ensures safe working conditions. As a result, retail enterprises are required to comply with the law because its structure is suited to their industry. Observance of manual tasks and workplace environments has occurred unintentionally, not as a result of predetermined health and safety risk evaluations. Despite the availability of all facilities, the implementation of first aid is not current. The majority of individuals lack training in emergency procedures. Administrative structures and consultation have not been specifically considered by this organization. Regarding health and safety acts, recommendations should be made for small retail firms.

Introduction

The audit at 7-Eleven revealed a high level of non-corporation with regard to the established legislation of the working environment. This study demonstrates underperformance associated with the OHSMS (Occupational Health and Safety Management System), which is a structured procedure demonstrating how to handle and manage this issue. Literature study indicates that organizations of this type spend relatively few resources to workplace health and safety, lack of sufficiency in this sector, lack of adherence, lack of full commitment to health and safety at the workplaces, and lack of compliance with established laws (Coles, 2003).

Results

The instruments of an OHSMS, which are assembled to administer OHS, are displayed above. As observed in this organization, these instruments are not implemented. With this type of retail firm, the fundamentals of an OHSMS are not given top emphasis. According to the audit table, it is accurate that 7-Eleven does not have an OHSMS. There is little evidence of administrative commitment to OSHM or actual preparation for achieving a safe work environment. Responsibility for OHS is assigned based on organizational hierarchy rather than OHS competence, and neither OHS practices nor risk management are governed by policy or procedure.

Performance and improved service delivery at 7-Eleven should result from administration and employee compliance with workplace and safety regulations and standards of conduct. Health and safety in the workplace provides stakeholders with a clear image of how to deal with, handle, and manage safety and health hazards during operation. The opposite is true of 7-Eleven. Detailed information on health and safety priorities, hazards and injuries at the workplace, the duties and roles of both managers and employees, as well as the right planning, constitute balanced health and safety measures at the workplace (Goldberg, 2005). This has not been understood.

According to published studies, managers find it difficult to comply with workplace health and safety rules. This is due to economic, experience, and available resources, as well as the time element, particularly in organizations of this sort. This issue prevents employees from complying with all workplace regulations. "Employees are not actively engaged in health and safety measures, although informal discussions do occur on occasion."

Although personnel are educated to perform their day-to-day tasks in a safe manner, it is apparent that they have not received OHS training. In addition, there is scant paperwork that serves mostly as a formality (Boulter, 2000). Accidents at 7-Eleven are uncommon, which can be attributed to the overall vigilance of the employees. Therefore, the directors of this company display little regard for safety and the law.

Integration of management authorities inside 7-Eleven is maximized with regard to coordination. There is a sufficient budget for planning processes and resources. Typically, the organization's health and safety plans and initiatives are up-to-date. There is an annual audit of safety accounts to ensure responsibility, and there are set rules for dealing with any workplace incidents.

There are numerous risk management devices available, including fire extinguishers, masks, and helmets. A particular worker also takes into account risk monitoring (Quinlan, 1999). This organization's representatives appear to be highly attuned to potential events (particularly in gas stations) and display a deeper awareness of the law. This may be ascribed to the organization's potential losses, but not to the workers' safety. This has presumably contributed to a decade-long decline in the number of instances.

Standards in 7-Elleven

Some locations indicate that 7-Eleven's health and safety requirements are not as compliant with the law as other businesses of its size.

This was determined by a Danish risk management research (Jenson, 2002) Moreover, according to research conducted in New Zealand, 94% of firms are aware of the significance of legislation, but only 45% demonstrate the ability to comply with it (Schofields, 2006) Over fifty-five percent do not have a documented health and safety policy, and over eighty percent of their activities are dependent on antiquated ways of reporting, such as informal reporting, while fewer than fifty percent maintain danger data. According to studies, 25% of workers do not engage in discussions on health and safety problems. In fact, just a small fraction of them document what to do should an accident that occurred in the past repeat.

Recommendations

These are the recommended elements that 7-Eleven is expected to adopt. The administrative structure should establish plans that correspond with OSHM's policies, assign accountability to a specific individual, assess the efficacy of the management of hazards, and organize training workshops and meetings. OHS knowledge should be institutionalized inside the organization (Walters, 1998), and "structures, planning activities, responsibilities, processes and procedures, resources, and action taken to develop, implement, evaluate, and review OHSM are documented" (Coles, 2003).

According to reports, small firms like 7-Eleven face a high incidence of workplace mishaps; consequently, a pragmatic approach to workplace safety must be mandated (Goldberg, 2000). "However, this strategy must accommodate business pressures and competencies without jeopardizing safety" (Coles, 2003). In small retail businesses where risky incidents are uncommon, it is likely that implementing a risk supervision method may achieve ASCC's desired result without overburdening employees with unnecessary paperwork.

Conclusion

The OHSMS provides methods for assuring compliance with health and safety regulations in the workplace.

It is argued that the OHSMS framework is meant for large corporations and does not fit the unique and dynamic settings of small businesses like 7-Eleven. With an emphasis on day-to-day financial viability, these businesses are considered to operate with little financial and human resources.

Moreover, consultations between employees and employers are not proactive. 25% of workers do not consult on problems of health and safety, according to research. Surprisingly, 80% of workers believe they have a low risk of being involved in an accident, despite the fact that only a tiny percentage of them record what to do if an accident that has already occurred occurs again (Farrel & Campbell, 1998). Typically, this is not the case, demanding that health and safety create a methodical approach to provide a safe working environment. Due to the form of the legislation, it is a requirement for large firms to comply with its regulations. This structure does not fit small enterprises functioning with little human capital and financial resources.

References

Boulter, A. (2003). Journal of Safety and Management, 26(3), pp. 213-227.

Coles, R. (2003). Management of Occupational Health and Safety Systematically. John Willy and sons Australia ltd., Canberra, CN.

Goldberg, B. (2008). Work place health and safety, Journal of health and safety, volume 24, number 1, pages 213-217.

Farrel, G., & Campbell, H (1998). Lessons from the Swedish approach to worker representation on health and safety in small businesses International Labor Review, volume 137, number 3, pages

Jenson, C. (2002). Safety compliance by employees Health law is the law. Oxford university press is based in New York, New York.

Quinlan, M. (1999). Promotion of occupational health and safety management systems: a possible path to success. Journal of occupational health and safety Australia and New Zealand, volume fifteen, number six, pages 535-541.

C. Richardson (2004). Understanding small business responds to regulation: health and safety in the workplace. Policy Studies. Oxford university press is based in New York, New York.

Schonfeld, L. (2006). Occupational safety and health in small companies. Journal of Occupational Health and Safety Australia and New Zealand, vol. 17, no. 5, p. 509

Houston, T., and C. Falek (2007). Some workplace safety and health regulations are difficult for supervisors to comply with. National Research Centre for Occupational Health and Safety regulation. Oxford university press is based in New York, New York.

Walters, D. (1998) Employee representation, health and safety: A strategy for Improving health and safety performance in small enterprises? Employee Relations, Sydney, SN: Jameson and sons Australia ltd.

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J.C. Penny Inc. Strategic Management Essay Help For Free

The five forces of Porter's five forces model
The negotiating leverage of J.C. Penny's suppliers

There is significant bargaining power among suppliers 1. This has a favorable effect on the company, as raw material costs are likely to decrease. In turn, the intense competition will have a good long-term impact for the J. C. Penny Company. Less bargaining power exists amongst suppliers as a consequence of the intense rivalry among them. In order to maximize earnings, the J.C. Penny Company has an edge in assessing the cost of raw materials from their suppliers. The diminished bargaining position of J.C. Penny's suppliers has an overall favorable impact on their market success.

Customers' bargaining power at J.C. Penny

The company's products have attracted a large number of clients who highly value them1. When people give a product a high rating, that it is likely to be in high demand, resulting in higher prices. This has a beneficial effect on J.C. Penny's ability to compete with high-end and low-end stores.

The competition between the JCP and its opponents

The J.C. Penny Company is a large organization with numerous departments and divisions. Consequently, the organization benefits from its size1. JCP is unable to compete effectively with high-end retailers like Macy's because it faces too many competitors.

Threat of Replacements

With the introduction of companies like Woolworths and Wal-Mart who sell the same products, the corporation has been placed in a competitive environment with a moderate threat of substitute1. Customers are likely to transfer from JCP to other organizations due to the availability of numerous alternatives, which poses a significant threat to JCP. Customers are also able to compare prices and products in the store's display areas. However, this has a substantial influence; therefore, the corporation should place a greater emphasis on providing items that minimize the availability of substitutes.

The risk posed by new rivals

JCP's new principal competitors are Kohl's, Macy's, and Sears1. The extensive distribution networks of the new enterprises have the potential to impact JCP's operations. Therefore, the company needs establish a robust distribution network in order to effectively compete with new companies that make identical items. It has been claimed that mom-and-pop stores are selling things online; otherwise, they will become outdated.

The company's SWOT analysis

These are the company's strengths:

The existence of over 1100 sites across the globe. Their superior products include apparel, jewelry, cosmetics, and even footwear and furniture. In addition to offering distribution of their products, the company provides consumers with the finest experience possible, hence attracting additional customers. Additionally, the company provides free haircuts for children.

The shortcomings of JCP

Due to the fact that its competitors offer comparable products, the company's market share is constrained 2. Due to the global emergence of new economies, international business operations have also posed challenges to JCP's services.

Possibility for JCP2

The company has a potential to penetrate the worldwide market in numerous places where JCP's products have inadequate replacements. Additionally, the corporation has the benefit of acquiring smaller retail chains, thereby extending shop locations in global marketplaces.

JCP dangers

Recent expansion in the business has resulted in the emergence of other companies offering similar products2. This is a significant obstacle for JCP, which must contend with the introduction of similar items to the market. This would result in a long-term inability to regulate the prices of its products, since competitors will offer similar products at lower prices.

The incorporation of the SWOT analysis and Porter's five forces demonstrates that the organization is in a position to thrive in the current market. According to JCP's Porter's five forces analysis, the department store business is without a doubt highly competitive. Even while competitors pose a significant threat to JCP's business operations, the company's strengths and opportunities, together with the bargaining power of its consumers, place it in the strongest position to compete with its rivals. Therefore, the emergence of other companies supplying comparable items is unlikely to negatively impact JCP's operations.

Corporate-level policy

The company has developed a number of methods to assure its continued viability in a constantly expanding industry. These tactics attempt to make JCP the preferred retailer in the United States. The company's corporate plan necessitates a greater emphasis on its consumers, which includes establishing new and appropriate contacts with its potential customers2. The corporation also intends to evaluate the worth of its products, given that customers often expect to receive complete satisfaction for their money. The administration has therefore resorted to maintaining a "high-low" price scheme. The execution of this policy carries the danger that competitors will provide superior items at lower prices, so hindering JCP's operations. JCP tends to match current sales while considering completely what the business plan requires. The corporation is compelled to follow its corporate-level plan in order to withstand the existing rivalry from its rivals.

Business Strategy

Rebranding its merchandise

This has been planned in terms of advertising, pricing strategies, and the presentation of products to customers2. Customers’ preference for purchasing JCP items determines the company’s potential to increase sales and store count in the United States; hence, the company's expansion plan is contingent on addressing customer satisfaction before addressing their expansion strategy. The potential to offer additional brands to the global market through the reorganization of the departments is viewed as a necessary step towards fulfilling the business' globalization goal. However, this would be limited by the three major competitors' fierce competition.

The opening of stores

The company's goal is to construct stores that provide customers with a pleasant shopping environment2. This will encourage clients, providing the business an advantage over its rivals. This method is optimal for JCP because it offers a novel approach to selling on the market.

The pricing policy

The company's effort to combat the intense competition by delivering clients inexpensive everyday costs will also benefit the company2. However, it is susceptible to declining profits over time. In addition, the financial statements demonstrate an improvement in JCP's financial condition; hence, the strategy can be deemed appropriate and can assist the company in addressing its weaknesses and capitalizing on its strengths.

In conclusion, the company adheres to its corporate plans; therefore, the congruence between corporate strategies and business strategies will enable the company to thrive in a worldwide market where various enterprises are expanding.

Bibliography

Justin Norkaitis. Presentation by J. C. Penny. Prezi. Web.

Annual Report of J. C. Penny Company, Inc., "United States Securities and Exchange Commission: Form 10-K"

Footnotes

Annual Report of J. C. Penny Company, Inc.

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Two Companies Dealing With Financial Recession Essay Help For Free

Introduction

Despite their size and financial resources, the economic recession had a significant impact on their operations. The years 2007 and 2008 will be recognized historically for the economic decline of the multinational business. The seriousness of the problem was highlighted by the fact that some companies sought bankruptcy protection from creditors around the world, while others completely shut down. In addition, the corporation closed numerous branches and laid off a large number of employees in an effort to reduce operational expenses. The purpose of this study is to investigate the "too big to fail" dilemma.

General Motors Failure

After a lengthy period of dominance in the automotive industry, GM found itself in a financial crisis it had never encountered in its entire existence. No one appears to be aware of the exact cause of the economic slowdown due to the divergent opinions of many parties. Jacoby (paragraph 2) ascribed the decline in part to GM's manufacturing processes. According to Sanford, GM's manufacturing continue to use outdated technologies, resulting in excessive production costs. In addition to disregarding its consumers' tastes and preferences, the corporation has lost market share to rivals in the same industry. Additionally, the corporation's reluctance to invest extensively in research and development contributed to its demise.

The company failed to recognize that the only way to ensure the future is via research and technology, despite its extremely high revenues. Consequently, GM's dissatisfied consumers have been absorbed by GM's competitors in the auto business. Toyota is an excellent example of a competitor that has made substantial investments in R&D. The Toyota Corporation has also upped its customers' expectations to the point where new models are periodically developed. The continued retention of the same employees by GM has had a significant impact on the company's labor expenses. As a result, the corporation has continued to pay out enormous sums of money to retiring and ill personnel (Fisher 351). The labor unions have increased their pressure on the corporation as the employees have demanded improved services. Stakeholders withdrew a significant quantity of capital from the company because of concern of losing their investment due to the ineffective management of the company. In fact, the attempt by the company's stakeholders to withdraw their support not only weakened the company's financial stability, but also significantly damaged its brand.

After declaring bankruptcy in early June 2009, GM decided to seek protection from the United States federal government. The bankruptcy petition affected not only the company's present employees who were to be laid off, but also those who had recently retired. This is due to the fact that, despite the fact that the corporation is required to pay pensions and other retirement benefits, it is now unable to do so. Poor investment priorities impacted GM's financial condition severely. In the 1980s, for instance, the corporation proceeded to spend $5 billion on Hughes Aircraft Co. shares, which led to a greater withdrawal of investment resources.

In an article written by Maynard Micheline, Mr. Wagoner, the current CEO of GM, is quoted as saying that one of the major factors that led to the business's demise was the exorbitant labor costs that the corporation continued to maintain in the workers' welfare. As a result, the corporation has been overloaded because this is a recurring charge that it must continue to pay (High expenses led to GM downfall para. 4). He also acknowledged that the corporation has not completely engaged in its research and development program, resulting in the continuation of high production costs. Failure in development has also prevented the corporation from instituting mass line production, which would reduce production costs. Additionally, the CEO stated that the organization has been unresponsive to market expectations. In the recent past, the desire for smaller automobiles has dominated the market, but GM had not invested in this type of vehicle (Farber 39). As a result, individuals have shifted to alternative companies that meet their needs.

Possible cures

General Motors must reduce its workforce size. Since salaries and wages are recurring expenses, the business must reconsider how much it should spend on its personnel. Because they would improve the quality of output, the corporation should prioritize a small number of talented employees. Similarly, the corporation should spend in research and development initiatives because it is the only way to create easier manufacturing procedures. This innovation will also reduce production costs, hence reducing the company's expenses. The management of the organization must be streamlined to ensure accountability and boost output. The performance of management should be guided and regulated by a system of checks.

In order to limit losses, management could also consider closing down unproductive branches. In order to win the market, the corporation must commit to satisfying the existing wants of market customers. This requires GM to explore investing in tiny automobiles, which are in greater demand than the company's large cars in the current market. To fulfill the needs of all clients, the corporation should consider producing affordable automobiles. In order to increase its financial capacity, it is also advisable for the GM Company to pursue acquisition from a tiny yet profitable automobile manufacturer.

The Lehman Brothers Holding Corporation

This was one of the major worldwide financial service providers in both the United States and internationally. The company's headquarters were located in New York City, and it had numerous subsidiaries, including Aurora Loan Services, SIB Mortgage Corporation, and Lehman Brothers Bank. In addition, the company established regional headquarters in London and Tokyo from which all operations were managed.

The collapse of Lehman Brothers Holdings, Inc.

The holdings made history on September 15, 2008, when it filed for bankruptcy protection due to the firm's financial issues. Several factors have been linked to the decline of the holding. Among the primary causes was the substantial migration of the firm's clients to other institutions, as they anticipated a significant loss on their investments. The relocation had a significant impact on the company's operations and led to the incurrence of losses. The second element that significantly contributed to the decline in holdings was the industry's dramatic and ongoing decline in stock prices and credit ratings.

Given that the holding was the dominant participant on both the New York Stock Exchange and the London Stock Exchange, stock loss had a significant influence on its operations. People’s withdrawal of invested capital from the market out of fear of loss was identified as the primary cause of the stock decline. The economic slump exacerbated the people's financial hardships, which led to their withdrawal of cash to cover their everyday needs. According to the New York Times (paragraph 1), the collapse of Lehman Brothers began in 2007 with the mortgage crisis and a continuing decline in stock prices. This drastically diminished the investor's confidence, causing them to remove their funds from the holding. Although the Inc. has a history of leveraging its financial ability and power to overcome economic difficulties, as it did in 1998, 2007-2008 proved challenging (Jónsson 57).

As a result of the notion that real estate was the best type of investment in 2001, the bank took out substantial loans in order to invest in real estate. Therefore, the home investment increased Lehman Brothers' financial capability from 2001 to 2006, but the housing market downturn in 2007 had a detrimental impact on the company, as massive investments had already been made in that sector. In 2008, the decline of the housing market contributed to a staggering loss of almost $613 billion (Boedihardjo para. 2). Since the global housing market had never undergone a major slump, corporations with substantial investments in the market saw a big impact. The Lehman Brothers bank likewise heavily rented its money to low-income individuals who had a high likelihood of repaying the lump sum. In an effort to protect itself from defaulting loans, the bank conspired with the insurance companies that were to indemnify them if the borrowers defaulted.

In 2007, however, there were more defaulters than the bank had anticipated. Unbeknownst to the bank, the collateralized debt obligation (CDO) in which the Brothers invested extensively contained numerous hidden dangers. As a result of the scheme, colossal losses were suffered. The loss also reduced the borrowers' confidence in their decision to cancel their loan agreements (LaRocco & Giuliani 119).

As creditors and other external financiers sought an injunction from the court, affected parties were required to pay fines and penalties. The action also thrust the bank into the public eye, which damaged its reputation. The bank's activities were significantly harmed by its negative reputation, hence deteriorating its financial position (Guerrera, Baer & Bullock, 2010).

Possible cures

Since the bank has ceased all activities, a complete reorganization is advised to gain consumer support. The reorganization should begin with the company's name and then expand to all of its goods. This will give the holdings a new appearance on the market. The new company should begin by creating a small number of branches and then expand as product demand increases. The reconstructed company should use the Lehman experience as a learning ground to safeguard the company's future and continuation.

Comparative analysis of the two articles

In light of the fact that the GM is still active on the market, enhancement tactics should be developed. To ensure that the corporation returns to its previous level of performance, further public financing would be necessary. Lehman Brothers Holdings, on the other hand, discontinued operations, so only an overhaul restructuring is applicable to the company. All that is required is model improvement and a shift in the company's focus to low- and middle-income earners for General Motors to continue using its brand name in its goods and marketing channels. To grab the market, it is necessary to produce inexpensive automobiles. On the other hand, in order to give the restructured company a fresh appearance, a comprehensive overhaul is required.

Conclusion

The belief that the economic crisis disproportionately impacts small and developing businesses was disproved only after the 2007-2009 economic recessions dramatically affected large enterprises. The severity of the recession was noted following the closure of a significant number of businesses and the filing of bankruptcy protections by others in an effort to reduce creditor pursuit. In order to prevent a similar situation in the future, all investing firms should seek out appropriate and effective financial solutions. Additionally, businesses should not rely on their financial capabilities and size as a justification for not being harmed by the crisis. Therefore, they should invest prudently and always assess the risk associated with an investment. This will lessen the future damage incurred by these companies.

Bibliography

Horatio Boedihardjo wrote, "How mathematics killed Lehman Brothers." How math brought down Lehman Brothers. 2009. Web.

Farber, David. Sloan rules: Alfred P. Sloan and General Motors' success. Web., University of Chicago Press, New York, 2002.

100 Minds That Made the Market is a book by Kenneth Fisher. 2007; New Jersey: John Wiley & Sons Web.

Guerrera, Francesco, Justin Baer, and Nicole Bullock. "Lehman liquidators contest bank claims." Lehman liquidators fight bank claims. 2010. Web.

"High expenses led to the demise of GM." 2009 ArticlesBase.com Web site.

Sanford Jacoby is named. "GM: What precipitated the demise of a corporate titan?" UCLAToday. 2008. Web.

Jónsson, Ásgeir. How come Iceland? 2009 Web page, New York, McGraw Hill Professional.

LaRocco, Lori Ann & Giuliani, Rudy. The New Economy: Lessons from the World's Leading Business Minds. John Wiley and Sons of New Jersey 2009. Web.

Maydard, Micheline. At G.M., profits trumped innovation. 2008 New York Times website.

Lenman Brothers Holdings Inc.-related topics from The New York Times. Web. nytimes.com (2010).

[supanova question]

Leading Organizational Development: The Most Effective Approaches Essay Help For Free

Table of Contents
Executive Synopsis Introduction Strategic Management Process Considerations for Formulation of Strategy Change Management Methodology Minimization of Change Resistance Leadership Theories and Styles Conclusion Bibliography

Executive Synopsis

Leadership in organizational growth has a significant impact on the strategic management process, particularly when it aids in the definition of functions and vision. This paper examines the most effective approaches to organizational development leadership, focusing mostly on strategic processes and change management. Evaluation progressions promote and support the organization's continuous improvement.

The strategic management process is not limited to a list of instructions and has a pragmatic approach to organizational success. Since firms are continuously subject to change, an efficient management process is essential for their growth. Recognizing critical improvements, preparing for change, providing resources, assessing opposition, celebrating accomplishment, and continuously improving are crucial aspects in the change management process that ensure success. Effective communication should be essential at every level since it facilitates the identification and removal of impediments.

The scenario and contingency theories concur that no leadership style is applicable in all situations. An autocratic leadership style impedes interaction and communication, which are essential for an organization's success. In contrast to authoritarian leadership, democratic leadership positively impacts organizational performance.

Introduction

Organizational development leadership is a significant factor in a company's failure or success. It has a significant impact on the strategic management process, particularly when it aids in determining the organization's operations and vision. It also guides organizations in the implementation of effective policies that contribute to their success. Focusing mostly on strategic processes and change management, this research tries to provide the most effective method for directing organizational development. Leadership in organizational growth necessitates proper evaluation to ensure the success of the entire process, which facilitates the identification of deficiencies and change management-aligned practices. Evaluation techniques generate and sustain the organization's continuous development (Goksoy 110-113).

Leadership in organizational development aids in determining an organization's existing standing, the likelihood of its continued success if it continues on its current path, and the strategies it should adopt to achieve greater success.

Process of Strategic Management

The strategic management process is based on an idealistic view of organizational performance, going beyond a collection of rules to be followed. Before applying its insights to organizational procedures, the management team should first think strategically. The most effective execution of strategic management processes occurs when the leader ensures that each stakeholder understands the organization's policies. Goal-setting (clarification of vision), analysis, formulation of a strategy, implementation, and monitoring are the five major decision categories to consider in the strategic management process (evaluation and control).

The purpose of goal-setting is to define the organizational vision (Donate and Pablo 360-362). This includes defining long-term and short-term goals, determining the optimal progression for achieving goals, customizing operations for personnel while providing every stakeholder with tasks at which they can excel, and developing a mission statement. It is vital to ensure that the established objectives are specific, achievable, and consistent with the vision's principles.

Analysis is a significant decision category that drives other strategic management processes. Under this category, it is necessary to collect as many relevant details and data as possible in order to realize the corporate vision. Focus of analysis should be on understanding the demands of the organization as a sustainable institution, its strategic management, and the identification of growth strategies (Jabbar and Hussein 99-103).

Internal and external factors that may affect the objectives and goals of the company are thoroughly analyzed. The initial step in formulating a plan is to examine the data acquired from the analysis. Determine the organization's available resources that can aid in the achievement of its objectives. After determining the urgency of organizational issues, the required approach and alternative practices for each phase of the plan are produced.

Strategic implementation is essential to the success of organizational processes. This is the implementation phase of strategic management. Prior to initiating the implementation phase, revisions must be made if the formulated plan does not align with the organization's current structure. Once adequate funding and resources are available and all parties are prepared, the plan should be implemented (Al Khajeh 5-7). Evaluation and management of external and internal issues enables management to discover any significant deviations in the business environment. If it is determined that the strategy is hindering the organization's growth, corrective measures must be done.

Considerations for Strategy Formulation

When establishing a plan, management must evaluate a variety of variables. These include articulating a vision and mission, evaluating the internal and external environment, establishing objectives, and determining action measures. Vision is an aspirational statement that outlines what the company aspires to become through time, whereas mission describes its raison d'être. Realistic identification of the organization's limitations and strengths, such as people resources, funds, equipment, and processes, is required in order to comprehend the internal and external environments.

It also involves identifying dangers and opportunities, such as economic, demographic, and political elements that influence the operations and growth of the company (Al Khajeh 6-7). When assessing to develop organizational goals, it is necessary to establish objectives that are explicit, quantitative, attainable, realistic, and time-bound. Action steps should ensure that an organization advances toward its objectives, achieves its objectives, and realizes its long-term aspiration.

Change Management Methodology

Since organizations are continually subject to change, an effective management process is essential for their growth. Identifying critical improvements, preparing for change, giving resources and utilizing data for evaluation, monitoring resistance and risks, celebrating achievement, and continuously improving are crucial to the effectiveness of the change management process. Examining the people and physical resources that will contribute to the growth of the company is required for identifying changes. Understanding the necessary alterations provides a solid foundation for transparency, simplicity, and efficient execution (Al Khajeh 5-9).

Planning for change establishes the starting, the path to be followed, and the objectives. After planning, management should seek the provision of change-related resources, funding, and information. The clarity of clear reporting on the change's progress promotes effective communication, the distribution of resources in an appropriate and timely manner, and the measuring of success and objectives. The availability of open and transparent channels of communication throughout the process is a vital element of all change management techniques.

In the change management process, resistance and dangers must be monitored. If resistance is not effectively addressed, it may endanger the success of the action plan. It stems primarily from the fear of the unknown when a significant number of risks are associated with the impending change. By providing change leaders with the essential tools and methodical techniques for managing resistance, anticipation and preparedness enable a seamless change process. Success celebration is essential for recognizing achievement milestones (Hornstein 291-293). For increased organizational success, it is essential to recognize the work of individual employees and teams involved in the transformation process.

Additionally, it facilitates the adoption of the implemented change and the management process. Regardless of how excruciating and challenging the implementation of change may be, it should be an ongoing process because the organization is continuously developing. Even change management techniques should be continuously modified based on the nature of the issue at hand. Clear communication should be a crucial element in each phase, as it facilitates the identification and elimination of obstacles. Dedication to assessment and analysis of organizational processes assists in determining when change is necessary, the relevant data, and necessary resources.

Minimization of Change Resistance

A variety of methodological methods to leadership and development helps to reduce organizational change resistance. They consist of proper communication in advance, encouragement of participation, and establishment of confidence. Before implementing a change, organizational leaders should notify employees who will be impacted by the underlying plans about the rationale behind it, its nature, when it will be necessary, and its potential influence on their operations. As far as feasible, it should be avoided to conceal information on how the intended change would likely impact the lives and practices of employees (Hornstein 291-295). However, in order for an organization to survive in a competitive environment, it may be necessary to hide some knowledge regarding future changes until just prior to their implementation.

Transformation leaders should encourage employee participation in the change process. People who are actively engaged in the occurrence of change are likely to be supportive of the organization's future attempts. They are pleased with the organization's progress and feel indispensable to its growth. In order for employees to embrace planned efforts, management should also engage in actions that foster trust (Kirk 45-46).

If leaders have a reputation for providing workers with timely and trustworthy information, their explanation of the relevance of change may be accepted. If employees have faith in their leaders, difficulties are likely to be reduced, notwithstanding the possibility of occasional resistance to change.

Leadership Theories and Models

With the assistance of a team-based coach, leaders should receive and implement feedback on decision-making processes, conflict resolution methods, and teamwork behaviors for effective organizational leadership and development. The team-based coach must formulate and critically evaluate hypotheses that influence decisions and behaviors on management, leadership, teamwork, and relationship building (Amis 25-27). However, certain assumptions, such as the requirement for layoffs to increase organizational success, may result in organizational failure as a result of the departure of exceptionally brilliant employees.

This implies that change leaders and team-based coaches thoroughly evaluate existing leadership theories and styles. Contingency theory focuses on environmental elements that may determine the optimal leadership style for a given circumstance. This notion asserts that no leadership style is applicable in all circumstances. Effective management does not merely comprise a person's qualities. It should strive to achieve a balance between behaviors, needs, and situations. Successful managers must be able to evaluate the demands of their employees, examine the problem thoroughly, and alter the necessary aspects accordingly.

Situation theory asserts that managers should choose the most effective course of action based on the nature of the problem at hand. This implies that various leadership styles are suitable for various types of decision-making. If the manager is the most knowledgeable and skilled member of the organization, for instance, the autocratic style is the most appropriate. However, if every member of an organization is a skilled professional, a democratic model is the best fit.

Autocratic managers are not creative and only promote one-sided communication, which severely impacts employee motivation and team satisfaction. Although it may be effective in the short-term, an authoritarian leadership style impedes socialization and communication in the business, which are essential for achieving high performance (Kirk 44-46). It also leads to organizational conflicts that hinder effectiveness overall. The autocratic style is effective in situations where projects must be completed within a tight time frame.

Unlike authoritarian leadership, democratic leadership positively affects an organization's performance. It enables individuals and teams to make and communicate decisions to change leaders and management. In a democratic style of leadership, the boss delivers criticism and compliments without bias, and employees develop a sense of responsibility (Amis 25-27). In addition to engaging in the decision-making process, employees have the opportunity to articulate and implement their unique ideas, which contributes to the good performance of firms. In addition, the democratic style of leadership prepares future leaders and fosters long-term organizational growth.

Conclusion

Leading organizational development assists managers in the execution of effective policies that enable them to grow. This necessitates a thorough evaluation to ensure the success of the entire progression, which allows the identification of limitations and appropriate change management strategies. Before implementing organizational change, it is necessary to establish goals that are explicit, measurable, realistic, practical, and time-bound. Achieving success requires ensuring open and effective communication throughout the process. Different leadership styles are suitable for various types of decision-making and circumstances.

Sources Cited

Al Khajeh, Ebrahim. Journal of Human Resources Management Research, volume 1, issue 1, page 1-10, 2018, "Impact of Leadership Styles on Organizational Performance."

Understanding Organizational Change and Innovation: An Interview with Mike Tushman. Journal of Change Management, vol. 18, no. 1, 2018, pp. 23-34.

Donate, Mario and Pablo Jess. Journal of Business Research, volume 68, number 2 (2015), pages 360-370, "The Role of Knowledge-Oriented Leadership in Knowledge Management Practices and Innovation."

Journal of Education and Training Studies, volume 3, number 4, 2015, pages 110-118, Süleyman Goksoy, "Distributed Leadership in Educational Institutions."

Hornstein, Henry. Integration of Project Management and Organizational Change Management is Currently Required. International Journal of Project Management, volume 33, number 2, pages 291-298, 2015.

Jabbar, Ali, and Ali Hussein. “The Role of Leadership in Strategic Management.” International Journal of Research-Granthaalayah, vol. 5, no. 5, 2017, pp. 99-106.

Kirk, Michelle. “Be the Change: Driving Digital Transformation in Your Organization.” Information Management, vol. 52 no. 3, 2018, pp. 44-46.

[supanova question]

Leading Organizational Development: The Most Effective Approaches Essay Help For Free

Table of Contents
Executive Synopsis Introduction Strategic Management Process Considerations for Formulation of Strategy Change Management Methodology Minimization of Change Resistance Leadership Theories and Styles Conclusion Bibliography

Executive Synopsis

Leadership in organizational growth has a significant impact on the strategic management process, particularly when it aids in the definition of functions and vision. This paper examines the most effective approaches to organizational development leadership, focusing mostly on strategic processes and change management. Evaluation progressions promote and support the organization's continuous improvement.

The strategic management process is not limited to a list of instructions and has a pragmatic approach to organizational success. Since firms are continuously subject to change, an efficient management process is essential for their growth. Recognizing critical improvements, preparing for change, providing resources, assessing opposition, celebrating accomplishment, and continuously improving are crucial aspects in the change management process that ensure success. Effective communication should be essential at every level since it facilitates the identification and removal of impediments.

The scenario and contingency theories concur that no leadership style is applicable in all situations. An autocratic leadership style impedes interaction and communication, which are essential for an organization's success. In contrast to authoritarian leadership, democratic leadership positively impacts organizational performance.

Introduction

Organizational development leadership is a significant factor in a company's failure or success. It has a significant impact on the strategic management process, particularly when it aids in determining the organization's operations and vision. It also guides organizations in the implementation of effective policies that contribute to their success. Focusing mostly on strategic processes and change management, this research tries to provide the most effective method for directing organizational development. Leadership in organizational growth necessitates proper evaluation to ensure the success of the entire process, which facilitates the identification of deficiencies and change management-aligned practices. Evaluation techniques generate and sustain the organization's continuous development (Goksoy 110-113).

Leadership in organizational development aids in determining an organization's existing standing, the likelihood of its continued success if it continues on its current path, and the strategies it should adopt to achieve greater success.

Process of Strategic Management

The strategic management process is based on an idealistic view of organizational performance, going beyond a collection of rules to be followed. Before applying its insights to organizational procedures, the management team should first think strategically. The most effective execution of strategic management processes occurs when the leader ensures that each stakeholder understands the organization's policies. Goal-setting (clarification of vision), analysis, formulation of a strategy, implementation, and monitoring are the five major decision categories to consider in the strategic management process (evaluation and control).

The purpose of goal-setting is to define the organizational vision (Donate and Pablo 360-362). This includes defining long-term and short-term goals, determining the optimal progression for achieving goals, customizing operations for personnel while providing every stakeholder with tasks at which they can excel, and developing a mission statement. It is vital to ensure that the established objectives are specific, achievable, and consistent with the vision's principles.

Analysis is a significant decision category that drives other strategic management processes. Under this category, it is necessary to collect as many relevant details and data as possible in order to realize the corporate vision. Focus of analysis should be on understanding the demands of the organization as a sustainable institution, its strategic management, and the identification of growth strategies (Jabbar and Hussein 99-103).

Internal and external factors that may affect the objectives and goals of the company are thoroughly analyzed. The initial step in formulating a plan is to examine the data acquired from the analysis. Determine the organization's available resources that can aid in the achievement of its objectives. After determining the urgency of organizational issues, the required approach and alternative practices for each phase of the plan are produced.

Strategic implementation is essential to the success of organizational processes. This is the implementation phase of strategic management. Prior to initiating the implementation phase, revisions must be made if the formulated plan does not align with the organization's current structure. Once adequate funding and resources are available and all parties are prepared, the plan should be implemented (Al Khajeh 5-7). Evaluation and management of external and internal issues enables management to discover any significant deviations in the business environment. If it is determined that the strategy is hindering the organization's growth, corrective measures must be done.

Considerations for Strategy Formulation

When establishing a plan, management must evaluate a variety of variables. These include articulating a vision and mission, evaluating the internal and external environment, establishing objectives, and determining action measures. Vision is an aspirational statement that outlines what the company aspires to become through time, whereas mission describes its raison d'être. Realistic identification of the organization's limitations and strengths, such as people resources, funds, equipment, and processes, is required in order to comprehend the internal and external environments.

It also involves identifying dangers and opportunities, such as economic, demographic, and political elements that influence the operations and growth of the company (Al Khajeh 6-7). When assessing to develop organizational goals, it is necessary to establish objectives that are explicit, quantitative, attainable, realistic, and time-bound. Action steps should ensure that an organization advances toward its objectives, achieves its objectives, and realizes its long-term aspiration.

Change Management Methodology

Since organizations are continually subject to change, an effective management process is essential for their growth. Identifying critical improvements, preparing for change, giving resources and utilizing data for evaluation, monitoring resistance and risks, celebrating achievement, and continuously improving are crucial to the effectiveness of the change management process. Examining the people and physical resources that will contribute to the growth of the company is required for identifying changes. Understanding the necessary alterations provides a solid foundation for transparency, simplicity, and efficient execution (Al Khajeh 5-9).

Planning for change establishes the starting, the path to be followed, and the objectives. After planning, management should seek the provision of change-related resources, funding, and information. The clarity of clear reporting on the change's progress promotes effective communication, the distribution of resources in an appropriate and timely manner, and the measuring of success and objectives. The availability of open and transparent channels of communication throughout the process is a vital element of all change management techniques.

In the change management process, resistance and dangers must be monitored. If resistance is not effectively addressed, it may endanger the success of the action plan. It stems primarily from the fear of the unknown when a significant number of risks are associated with the impending change. By providing change leaders with the essential tools and methodical techniques for managing resistance, anticipation and preparedness enable a seamless change process. Success celebration is essential for recognizing achievement milestones (Hornstein 291-293). For increased organizational success, it is essential to recognize the work of individual employees and teams involved in the transformation process.

Additionally, it facilitates the adoption of the implemented change and the management process. Regardless of how excruciating and challenging the implementation of change may be, it should be an ongoing process because the organization is continuously developing. Even change management techniques should be continuously modified based on the nature of the issue at hand. Clear communication should be a crucial element in each phase, as it facilitates the identification and elimination of obstacles. Dedication to assessment and analysis of organizational processes assists in determining when change is necessary, the relevant data, and necessary resources.

Minimization of Change Resistance

A variety of methodological methods to leadership and development helps to reduce organizational change resistance. They consist of proper communication in advance, encouragement of participation, and establishment of confidence. Before implementing a change, organizational leaders should notify employees who will be impacted by the underlying plans about the rationale behind it, its nature, when it will be necessary, and its potential influence on their operations. As far as feasible, it should be avoided to conceal information on how the intended change would likely impact the lives and practices of employees (Hornstein 291-295). However, in order for an organization to survive in a competitive environment, it may be necessary to hide some knowledge regarding future changes until just prior to their implementation.

Transformation leaders should encourage employee participation in the change process. People who are actively engaged in the occurrence of change are likely to be supportive of the organization's future attempts. They are pleased with the organization's progress and feel indispensable to its growth. In order for employees to embrace planned efforts, management should also engage in actions that foster trust (Kirk 45-46).

If leaders have a reputation for providing workers with timely and trustworthy information, their explanation of the relevance of change may be accepted. If employees have faith in their leaders, difficulties are likely to be reduced, notwithstanding the possibility of occasional resistance to change.

Leadership Theories and Models

With the assistance of a team-based coach, leaders should receive and implement feedback on decision-making processes, conflict resolution methods, and teamwork behaviors for effective organizational leadership and development. The team-based coach must formulate and critically evaluate hypotheses that influence decisions and behaviors on management, leadership, teamwork, and relationship building (Amis 25-27). However, certain assumptions, such as the requirement for layoffs to increase organizational success, may result in organizational failure as a result of the departure of exceptionally brilliant employees.

This implies that change leaders and team-based coaches thoroughly evaluate existing leadership theories and styles. Contingency theory focuses on environmental elements that may determine the optimal leadership style for a given circumstance. This notion asserts that no leadership style is applicable in all circumstances. Effective management does not merely comprise a person's qualities. It should strive to achieve a balance between behaviors, needs, and situations. Successful managers must be able to evaluate the demands of their employees, examine the problem thoroughly, and alter the necessary aspects accordingly.

Situation theory asserts that managers should choose the most effective course of action based on the nature of the problem at hand. This implies that various leadership styles are suitable for various types of decision-making. If the manager is the most knowledgeable and skilled member of the organization, for instance, the autocratic style is the most appropriate. However, if every member of an organization is a skilled professional, a democratic model is the best fit.

Autocratic managers are not creative and only promote one-sided communication, which severely impacts employee motivation and team satisfaction. Although it may be effective in the short-term, an authoritarian leadership style impedes socialization and communication in the business, which are essential for achieving high performance (Kirk 44-46). It also leads to organizational conflicts that hinder effectiveness overall. The autocratic style is effective in situations where projects must be completed within a tight time frame.

Unlike authoritarian leadership, democratic leadership positively affects an organization's performance. It enables individuals and teams to make and communicate decisions to change leaders and management. In a democratic style of leadership, the boss delivers criticism and compliments without bias, and employees develop a sense of responsibility (Amis 25-27). In addition to engaging in the decision-making process, employees have the opportunity to articulate and implement their unique ideas, which contributes to the good performance of firms. In addition, the democratic style of leadership prepares future leaders and fosters long-term organizational growth.

Conclusion

Leading organizational development assists managers in the execution of effective policies that enable them to grow. This necessitates a thorough evaluation to ensure the success of the entire progression, which allows the identification of limitations and appropriate change management strategies. Before implementing organizational change, it is necessary to establish goals that are explicit, measurable, realistic, practical, and time-bound. Achieving success requires ensuring open and effective communication throughout the process. Different leadership styles are suitable for various types of decision-making and circumstances.

Sources Cited

Al Khajeh, Ebrahim. Journal of Human Resources Management Research, volume 1, issue 1, page 1-10, 2018, "Impact of Leadership Styles on Organizational Performance."

Understanding Organizational Change and Innovation: An Interview with Mike Tushman. Journal of Change Management, vol. 18, no. 1, 2018, pp. 23-34.

Donate, Mario and Pablo Jess. Journal of Business Research, volume 68, number 2 (2015), pages 360-370, "The Role of Knowledge-Oriented Leadership in Knowledge Management Practices and Innovation."

Journal of Education and Training Studies, volume 3, number 4, 2015, pages 110-118, Süleyman Goksoy, "Distributed Leadership in Educational Institutions."

Hornstein, Henry. Integration of Project Management and Organizational Change Management is Currently Required. International Journal of Project Management, volume 33, number 2, pages 291-298, 2015.

Jabbar, Ali, and Ali Hussein. “The Role of Leadership in Strategic Management.” International Journal of Research-Granthaalayah, vol. 5, no. 5, 2017, pp. 99-106.

Kirk, Michelle. “Be the Change: Driving Digital Transformation in Your Organization.” Information Management, vol. 52 no. 3, 2018, pp. 44-46.

[supanova question]

Leading Organizational Development: The Most Effective Approaches Essay Help For Free

Table of Contents
Executive Synopsis Introduction Strategic Management Process Considerations for Formulation of Strategy Change Management Methodology Minimization of Change Resistance Leadership Theories and Styles Conclusion Bibliography

Executive Synopsis

Leadership in organizational growth has a significant impact on the strategic management process, particularly when it aids in the definition of functions and vision. This paper examines the most effective approaches to organizational development leadership, focusing mostly on strategic processes and change management. Evaluation progressions promote and support the organization's continuous improvement.

The strategic management process is not limited to a list of instructions and has a pragmatic approach to organizational success. Since firms are continuously subject to change, an efficient management process is essential for their growth. Recognizing critical improvements, preparing for change, providing resources, assessing opposition, celebrating accomplishment, and continuously improving are crucial aspects in the change management process that ensure success. Effective communication should be essential at every level since it facilitates the identification and removal of impediments.

The scenario and contingency theories concur that no leadership style is applicable in all situations. An autocratic leadership style impedes interaction and communication, which are essential for an organization's success. In contrast to authoritarian leadership, democratic leadership positively impacts organizational performance.

Introduction

Organizational development leadership is a significant factor in a company's failure or success. It has a significant impact on the strategic management process, particularly when it aids in determining the organization's operations and vision. It also guides organizations in the implementation of effective policies that contribute to their success. Focusing mostly on strategic processes and change management, this research tries to provide the most effective method for directing organizational development. Leadership in organizational growth necessitates proper evaluation to ensure the success of the entire process, which facilitates the identification of deficiencies and change management-aligned practices. Evaluation techniques generate and sustain the organization's continuous development (Goksoy 110-113).

Leadership in organizational development aids in determining an organization's existing standing, the likelihood of its continued success if it continues on its current path, and the strategies it should adopt to achieve greater success.

Process of Strategic Management

The strategic management process is based on an idealistic view of organizational performance, going beyond a collection of rules to be followed. Before applying its insights to organizational procedures, the management team should first think strategically. The most effective execution of strategic management processes occurs when the leader ensures that each stakeholder understands the organization's policies. Goal-setting (clarification of vision), analysis, formulation of a strategy, implementation, and monitoring are the five major decision categories to consider in the strategic management process (evaluation and control).

The purpose of goal-setting is to define the organizational vision (Donate and Pablo 360-362). This includes defining long-term and short-term goals, determining the optimal progression for achieving goals, customizing operations for personnel while providing every stakeholder with tasks at which they can excel, and developing a mission statement. It is vital to ensure that the established objectives are specific, achievable, and consistent with the vision's principles.

Analysis is a significant decision category that drives other strategic management processes. Under this category, it is necessary to collect as many relevant details and data as possible in order to realize the corporate vision. Focus of analysis should be on understanding the demands of the organization as a sustainable institution, its strategic management, and the identification of growth strategies (Jabbar and Hussein 99-103).

Internal and external factors that may affect the objectives and goals of the company are thoroughly analyzed. The initial step in formulating a plan is to examine the data acquired from the analysis. Determine the organization's available resources that can aid in the achievement of its objectives. After determining the urgency of organizational issues, the required approach and alternative practices for each phase of the plan are produced.

Strategic implementation is essential to the success of organizational processes. This is the implementation phase of strategic management. Prior to initiating the implementation phase, revisions must be made if the formulated plan does not align with the organization's current structure. Once adequate funding and resources are available and all parties are prepared, the plan should be implemented (Al Khajeh 5-7). Evaluation and management of external and internal issues enables management to discover any significant deviations in the business environment. If it is determined that the strategy is hindering the organization's growth, corrective measures must be done.

Considerations for Strategy Formulation

When establishing a plan, management must evaluate a variety of variables. These include articulating a vision and mission, evaluating the internal and external environment, establishing objectives, and determining action measures. Vision is an aspirational statement that outlines what the company aspires to become through time, whereas mission describes its raison d'être. Realistic identification of the organization's limitations and strengths, such as people resources, funds, equipment, and processes, is required in order to comprehend the internal and external environments.

It also involves identifying dangers and opportunities, such as economic, demographic, and political elements that influence the operations and growth of the company (Al Khajeh 6-7). When assessing to develop organizational goals, it is necessary to establish objectives that are explicit, quantitative, attainable, realistic, and time-bound. Action steps should ensure that an organization advances toward its objectives, achieves its objectives, and realizes its long-term aspiration.

Change Management Methodology

Since organizations are continually subject to change, an effective management process is essential for their growth. Identifying critical improvements, preparing for change, giving resources and utilizing data for evaluation, monitoring resistance and risks, celebrating achievement, and continuously improving are crucial to the effectiveness of the change management process. Examining the people and physical resources that will contribute to the growth of the company is required for identifying changes. Understanding the necessary alterations provides a solid foundation for transparency, simplicity, and efficient execution (Al Khajeh 5-9).

Planning for change establishes the starting, the path to be followed, and the objectives. After planning, management should seek the provision of change-related resources, funding, and information. The clarity of clear reporting on the change's progress promotes effective communication, the distribution of resources in an appropriate and timely manner, and the measuring of success and objectives. The availability of open and transparent channels of communication throughout the process is a vital element of all change management techniques.

In the change management process, resistance and dangers must be monitored. If resistance is not effectively addressed, it may endanger the success of the action plan. It stems primarily from the fear of the unknown when a significant number of risks are associated with the impending change. By providing change leaders with the essential tools and methodical techniques for managing resistance, anticipation and preparedness enable a seamless change process. Success celebration is essential for recognizing achievement milestones (Hornstein 291-293). For increased organizational success, it is essential to recognize the work of individual employees and teams involved in the transformation process.

Additionally, it facilitates the adoption of the implemented change and the management process. Regardless of how excruciating and challenging the implementation of change may be, it should be an ongoing process because the organization is continuously developing. Even change management techniques should be continuously modified based on the nature of the issue at hand. Clear communication should be a crucial element in each phase, as it facilitates the identification and elimination of obstacles. Dedication to assessment and analysis of organizational processes assists in determining when change is necessary, the relevant data, and necessary resources.

Minimization of Change Resistance

A variety of methodological methods to leadership and development helps to reduce organizational change resistance. They consist of proper communication in advance, encouragement of participation, and establishment of confidence. Before implementing a change, organizational leaders should notify employees who will be impacted by the underlying plans about the rationale behind it, its nature, when it will be necessary, and its potential influence on their operations. As far as feasible, it should be avoided to conceal information on how the intended change would likely impact the lives and practices of employees (Hornstein 291-295). However, in order for an organization to survive in a competitive environment, it may be necessary to hide some knowledge regarding future changes until just prior to their implementation.

Transformation leaders should encourage employee participation in the change process. People who are actively engaged in the occurrence of change are likely to be supportive of the organization's future attempts. They are pleased with the organization's progress and feel indispensable to its growth. In order for employees to embrace planned efforts, management should also engage in actions that foster trust (Kirk 45-46).

If leaders have a reputation for providing workers with timely and trustworthy information, their explanation of the relevance of change may be accepted. If employees have faith in their leaders, difficulties are likely to be reduced, notwithstanding the possibility of occasional resistance to change.

Leadership Theories and Models

With the assistance of a team-based coach, leaders should receive and implement feedback on decision-making processes, conflict resolution methods, and teamwork behaviors for effective organizational leadership and development. The team-based coach must formulate and critically evaluate hypotheses that influence decisions and behaviors on management, leadership, teamwork, and relationship building (Amis 25-27). However, certain assumptions, such as the requirement for layoffs to increase organizational success, may result in organizational failure as a result of the departure of exceptionally brilliant employees.

This implies that change leaders and team-based coaches thoroughly evaluate existing leadership theories and styles. Contingency theory focuses on environmental elements that may determine the optimal leadership style for a given circumstance. This notion asserts that no leadership style is applicable in all circumstances. Effective management does not merely comprise a person's qualities. It should strive to achieve a balance between behaviors, needs, and situations. Successful managers must be able to evaluate the demands of their employees, examine the problem thoroughly, and alter the necessary aspects accordingly.

Situation theory asserts that managers should choose the most effective course of action based on the nature of the problem at hand. This implies that various leadership styles are suitable for various types of decision-making. If the manager is the most knowledgeable and skilled member of the organization, for instance, the autocratic style is the most appropriate. However, if every member of an organization is a skilled professional, a democratic model is the best fit.

Autocratic managers are not creative and only promote one-sided communication, which severely impacts employee motivation and team satisfaction. Although it may be effective in the short-term, an authoritarian leadership style impedes socialization and communication in the business, which are essential for achieving high performance (Kirk 44-46). It also leads to organizational conflicts that hinder effectiveness overall. The autocratic style is effective in situations where projects must be completed within a tight time frame.

Unlike authoritarian leadership, democratic leadership positively affects an organization's performance. It enables individuals and teams to make and communicate decisions to change leaders and management. In a democratic style of leadership, the boss delivers criticism and compliments without bias, and employees develop a sense of responsibility (Amis 25-27). In addition to engaging in the decision-making process, employees have the opportunity to articulate and implement their unique ideas, which contributes to the good performance of firms. In addition, the democratic style of leadership prepares future leaders and fosters long-term organizational growth.

Conclusion

Leading organizational development assists managers in the execution of effective policies that enable them to grow. This necessitates a thorough evaluation to ensure the success of the entire progression, which allows the identification of limitations and appropriate change management strategies. Before implementing organizational change, it is necessary to establish goals that are explicit, measurable, realistic, practical, and time-bound. Achieving success requires ensuring open and effective communication throughout the process. Different leadership styles are suitable for various types of decision-making and circumstances.

Sources Cited

Al Khajeh, Ebrahim. Journal of Human Resources Management Research, volume 1, issue 1, page 1-10, 2018, "Impact of Leadership Styles on Organizational Performance."

Understanding Organizational Change and Innovation: An Interview with Mike Tushman. Journal of Change Management, vol. 18, no. 1, 2018, pp. 23-34.

Donate, Mario and Pablo Jess. Journal of Business Research, volume 68, number 2 (2015), pages 360-370, "The Role of Knowledge-Oriented Leadership in Knowledge Management Practices and Innovation."

Journal of Education and Training Studies, volume 3, number 4, 2015, pages 110-118, Süleyman Goksoy, "Distributed Leadership in Educational Institutions."

Hornstein, Henry. Integration of Project Management and Organizational Change Management is Currently Required. International Journal of Project Management, volume 33, number 2, pages 291-298, 2015.

Jabbar, Ali, and Ali Hussein. “The Role of Leadership in Strategic Management.” International Journal of Research-Granthaalayah, vol. 5, no. 5, 2017, pp. 99-106.

Kirk, Michelle. “Be the Change: Driving Digital Transformation in Your Organization.” Information Management, vol. 52 no. 3, 2018, pp. 44-46.

[supanova question]

Leading Organizational Development: The Most Effective Approaches Essay Help For Free

Table of Contents
Executive Synopsis Introduction Strategic Management Process Considerations for Formulation of Strategy Change Management Methodology Minimization of Change Resistance Leadership Theories and Styles Conclusion Bibliography

Executive Synopsis

Leadership in organizational growth has a significant impact on the strategic management process, particularly when it aids in the definition of functions and vision. This paper examines the most effective approaches to organizational development leadership, focusing mostly on strategic processes and change management. Evaluation progressions promote and support the organization's continuous improvement.

The strategic management process is not limited to a list of instructions and has a pragmatic approach to organizational success. Since firms are continuously subject to change, an efficient management process is essential for their growth. Recognizing critical improvements, preparing for change, providing resources, assessing opposition, celebrating accomplishment, and continuously improving are crucial aspects in the change management process that ensure success. Effective communication should be essential at every level since it facilitates the identification and removal of impediments.

The scenario and contingency theories concur that no leadership style is applicable in all situations. An autocratic leadership style impedes interaction and communication, which are essential for an organization's success. In contrast to authoritarian leadership, democratic leadership positively impacts organizational performance.

Introduction

Organizational development leadership is a significant factor in a company's failure or success. It has a significant impact on the strategic management process, particularly when it aids in determining the organization's operations and vision. It also guides organizations in the implementation of effective policies that contribute to their success. Focusing mostly on strategic processes and change management, this research tries to provide the most effective method for directing organizational development. Leadership in organizational growth necessitates proper evaluation to ensure the success of the entire process, which facilitates the identification of deficiencies and change management-aligned practices. Evaluation techniques generate and sustain the organization's continuous development (Goksoy 110-113).

Leadership in organizational development aids in determining an organization's existing standing, the likelihood of its continued success if it continues on its current path, and the strategies it should adopt to achieve greater success.

Process of Strategic Management

The strategic management process is based on an idealistic view of organizational performance, going beyond a collection of rules to be followed. Before applying its insights to organizational procedures, the management team should first think strategically. The most effective execution of strategic management processes occurs when the leader ensures that each stakeholder understands the organization's policies. Goal-setting (clarification of vision), analysis, formulation of a strategy, implementation, and monitoring are the five major decision categories to consider in the strategic management process (evaluation and control).

The purpose of goal-setting is to define the organizational vision (Donate and Pablo 360-362). This includes defining long-term and short-term goals, determining the optimal progression for achieving goals, customizing operations for personnel while providing every stakeholder with tasks at which they can excel, and developing a mission statement. It is vital to ensure that the established objectives are specific, achievable, and consistent with the vision's principles.

Analysis is a significant decision category that drives other strategic management processes. Under this category, it is necessary to collect as many relevant details and data as possible in order to realize the corporate vision. Focus of analysis should be on understanding the demands of the organization as a sustainable institution, its strategic management, and the identification of growth strategies (Jabbar and Hussein 99-103).

Internal and external factors that may affect the objectives and goals of the company are thoroughly analyzed. The initial step in formulating a plan is to examine the data acquired from the analysis. Determine the organization's available resources that can aid in the achievement of its objectives. After determining the urgency of organizational issues, the required approach and alternative practices for each phase of the plan are produced.

Strategic implementation is essential to the success of organizational processes. This is the implementation phase of strategic management. Prior to initiating the implementation phase, revisions must be made if the formulated plan does not align with the organization's current structure. Once adequate funding and resources are available and all parties are prepared, the plan should be implemented (Al Khajeh 5-7). Evaluation and management of external and internal issues enables management to discover any significant deviations in the business environment. If it is determined that the strategy is hindering the organization's growth, corrective measures must be done.

Considerations for Strategy Formulation

When establishing a plan, management must evaluate a variety of variables. These include articulating a vision and mission, evaluating the internal and external environment, establishing objectives, and determining action measures. Vision is an aspirational statement that outlines what the company aspires to become through time, whereas mission describes its raison d'être. Realistic identification of the organization's limitations and strengths, such as people resources, funds, equipment, and processes, is required in order to comprehend the internal and external environments.

It also involves identifying dangers and opportunities, such as economic, demographic, and political elements that influence the operations and growth of the company (Al Khajeh 6-7). When assessing to develop organizational goals, it is necessary to establish objectives that are explicit, quantitative, attainable, realistic, and time-bound. Action steps should ensure that an organization advances toward its objectives, achieves its objectives, and realizes its long-term aspiration.

Change Management Methodology

Since organizations are continually subject to change, an effective management process is essential for their growth. Identifying critical improvements, preparing for change, giving resources and utilizing data for evaluation, monitoring resistance and risks, celebrating achievement, and continuously improving are crucial to the effectiveness of the change management process. Examining the people and physical resources that will contribute to the growth of the company is required for identifying changes. Understanding the necessary alterations provides a solid foundation for transparency, simplicity, and efficient execution (Al Khajeh 5-9).

Planning for change establishes the starting, the path to be followed, and the objectives. After planning, management should seek the provision of change-related resources, funding, and information. The clarity of clear reporting on the change's progress promotes effective communication, the distribution of resources in an appropriate and timely manner, and the measuring of success and objectives. The availability of open and transparent channels of communication throughout the process is a vital element of all change management techniques.

In the change management process, resistance and dangers must be monitored. If resistance is not effectively addressed, it may endanger the success of the action plan. It stems primarily from the fear of the unknown when a significant number of risks are associated with the impending change. By providing change leaders with the essential tools and methodical techniques for managing resistance, anticipation and preparedness enable a seamless change process. Success celebration is essential for recognizing achievement milestones (Hornstein 291-293). For increased organizational success, it is essential to recognize the work of individual employees and teams involved in the transformation process.

Additionally, it facilitates the adoption of the implemented change and the management process. Regardless of how excruciating and challenging the implementation of change may be, it should be an ongoing process because the organization is continuously developing. Even change management techniques should be continuously modified based on the nature of the issue at hand. Clear communication should be a crucial element in each phase, as it facilitates the identification and elimination of obstacles. Dedication to assessment and analysis of organizational processes assists in determining when change is necessary, the relevant data, and necessary resources.

Minimization of Change Resistance

A variety of methodological methods to leadership and development helps to reduce organizational change resistance. They consist of proper communication in advance, encouragement of participation, and establishment of confidence. Before implementing a change, organizational leaders should notify employees who will be impacted by the underlying plans about the rationale behind it, its nature, when it will be necessary, and its potential influence on their operations. As far as feasible, it should be avoided to conceal information on how the intended change would likely impact the lives and practices of employees (Hornstein 291-295). However, in order for an organization to survive in a competitive environment, it may be necessary to hide some knowledge regarding future changes until just prior to their implementation.

Transformation leaders should encourage employee participation in the change process. People who are actively engaged in the occurrence of change are likely to be supportive of the organization's future attempts. They are pleased with the organization's progress and feel indispensable to its growth. In order for employees to embrace planned efforts, management should also engage in actions that foster trust (Kirk 45-46).

If leaders have a reputation for providing workers with timely and trustworthy information, their explanation of the relevance of change may be accepted. If employees have faith in their leaders, difficulties are likely to be reduced, notwithstanding the possibility of occasional resistance to change.

Leadership Theories and Models

With the assistance of a team-based coach, leaders should receive and implement feedback on decision-making processes, conflict resolution methods, and teamwork behaviors for effective organizational leadership and development. The team-based coach must formulate and critically evaluate hypotheses that influence decisions and behaviors on management, leadership, teamwork, and relationship building (Amis 25-27). However, certain assumptions, such as the requirement for layoffs to increase organizational success, may result in organizational failure as a result of the departure of exceptionally brilliant employees.

This implies that change leaders and team-based coaches thoroughly evaluate existing leadership theories and styles. Contingency theory focuses on environmental elements that may determine the optimal leadership style for a given circumstance. This notion asserts that no leadership style is applicable in all circumstances. Effective management does not merely comprise a person's qualities. It should strive to achieve a balance between behaviors, needs, and situations. Successful managers must be able to evaluate the demands of their employees, examine the problem thoroughly, and alter the necessary aspects accordingly.

Situation theory asserts that managers should choose the most effective course of action based on the nature of the problem at hand. This implies that various leadership styles are suitable for various types of decision-making. If the manager is the most knowledgeable and skilled member of the organization, for instance, the autocratic style is the most appropriate. However, if every member of an organization is a skilled professional, a democratic model is the best fit.

Autocratic managers are not creative and only promote one-sided communication, which severely impacts employee motivation and team satisfaction. Although it may be effective in the short-term, an authoritarian leadership style impedes socialization and communication in the business, which are essential for achieving high performance (Kirk 44-46). It also leads to organizational conflicts that hinder effectiveness overall. The autocratic style is effective in situations where projects must be completed within a tight time frame.

Unlike authoritarian leadership, democratic leadership positively affects an organization's performance. It enables individuals and teams to make and communicate decisions to change leaders and management. In a democratic style of leadership, the boss delivers criticism and compliments without bias, and employees develop a sense of responsibility (Amis 25-27). In addition to engaging in the decision-making process, employees have the opportunity to articulate and implement their unique ideas, which contributes to the good performance of firms. In addition, the democratic style of leadership prepares future leaders and fosters long-term organizational growth.

Conclusion

Leading organizational development assists managers in the execution of effective policies that enable them to grow. This necessitates a thorough evaluation to ensure the success of the entire progression, which allows the identification of limitations and appropriate change management strategies. Before implementing organizational change, it is necessary to establish goals that are explicit, measurable, realistic, practical, and time-bound. Achieving success requires ensuring open and effective communication throughout the process. Different leadership styles are suitable for various types of decision-making and circumstances.

Sources Cited

Al Khajeh, Ebrahim. Journal of Human Resources Management Research, volume 1, issue 1, page 1-10, 2018, "Impact of Leadership Styles on Organizational Performance."

Understanding Organizational Change and Innovation: An Interview with Mike Tushman. Journal of Change Management, vol. 18, no. 1, 2018, pp. 23-34.

Donate, Mario and Pablo Jess. Journal of Business Research, volume 68, number 2 (2015), pages 360-370, "The Role of Knowledge-Oriented Leadership in Knowledge Management Practices and Innovation."

Journal of Education and Training Studies, volume 3, number 4, 2015, pages 110-118, Süleyman Goksoy, "Distributed Leadership in Educational Institutions."

Hornstein, Henry. Integration of Project Management and Organizational Change Management is Currently Required. International Journal of Project Management, volume 33, number 2, pages 291-298, 2015.

Jabbar, Ali, and Ali Hussein. “The Role of Leadership in Strategic Management.” International Journal of Research-Granthaalayah, vol. 5, no. 5, 2017, pp. 99-106.

Kirk, Michelle. “Be the Change: Driving Digital Transformation in Your Organization.” Information Management, vol. 52 no. 3, 2018, pp. 44-46.

[supanova question]

Effects Of Digital Transformation On People Management Practices Among Small Business Enterprises Essay Help For Free

Introduction

Human Resource Management (HRM) problems, including as workforce training and regulatory compliance, have experienced a tremendous increase in the adoption of technological services since the start of the 21st century. The objective has been to utilize digital transformation as a source of commercial competitive advantage (Helmerich, Raj-Reichert and Zajak, 2020). However, there is a paucity of research on the effects of this digital transition on the human resource management practices of small businesses. This research proposal seeks to investigate the implications of digital transformation on the human resource management practices of small businesses. The research is motivated by the necessity to establish effective people management techniques as a source of competitive advantage in a technologically redefining economic environment (Kann and Biersteker, 2018; Goncalves et al., 2020). This study's findings will have a significant impact on enhancing people management methods in the small business sector.

Methodology

Research Methodology

In academic research, qualitative and quantitative methodologies are the two most used ways. In the proposed study, however, the two methods will be included into a larger framework for a mixed research strategy that encompasses qualitative and quantitative parts of examination (Kumar, 2018). Because of the exploratory character of the research topic, the researcher plans to utilize a mixed-methods research strategy (Bell et al., 2018). Consequently, it will aid the researcher in gaining a comprehensive awareness of the primary research concerns.

Research Plan

As the recommended method, the researcher will employ the sequential concurrent triangulation methodology. This method will enable the researcher to overcome the limitations of one method (such as qualitative) with the advantages of another (quantitative) (Research Rundown, 2020). Therefore, with this type of research design, there is no preferred data type to gather, allowing the researcher to be guided by evidence.

Data Gathering

The researchers will collect data from 42 local businesses in their vicinity. Twelve business managers will also be interviewed. Online questionnaires delivered as a survey will be used to collect information from local businesses. Random sampling will be utilized to eliminate researcher bias.

Data Analysis

Quantitative data will be analyzed using the software Statistical Package for the Social Sciences (SPSS), while qualitative data will be evaluated utilizing theme and coding methods. Data from both sources will be triangulated and compared with secondary research findings to acquire a deeper knowledge of the research problem.

Ethical Declaration

Human participants necessitate obtaining ethical approval before conducting the study. Researchers urge that research of this sort prioritize obtaining consent from participants, protecting their identities, and preserving the accuracy of the data collected (Dobrick and Fischer, 2017; Temple, 2019). These ethical guidelines will be observed by the researcher during the investigation.

Overview

People Management

This proposal fully discusses the notion of people management, which refers to the tactics employed by managers to effectively control how employees work, interact with one another, behave, and develop. In the context of this research, the adoption of people management skills signifies not only the development of talent retention or management abilities, but also the provision of additional assistance for a business or employee to take certain activities in order to achieve their objectives. The workplace environment has been dramatically altered by technology, consequently altering these results.

Digital Transformation's Impact on the Workplace

Historically, employer-employee relationships were characterized by rigid ways of interaction. This sort of contact was designed to preserve clear lines of authority and engagement between employers and employees, leaving minimal possibility for disputing authority (Akemu and Abdelnour, 2020). In the digital age, however, the majority of these modes of engagement have shifted as employers and employees communicate via flexible channels, such as email and Skype, which have significantly reduced the power difference between both parties (Stark and Crawford, 2015). The majority of research studies have identified this phenomena as one of the consequences of technology on workplace communication between employees and their bosses. This field of study is essential to the current analysis because the impact of technology on communication influences the power dynamic between employers and employees and, by extension, people management techniques. The majority of these conclusions, however, are based on studies conducted at large corporations.

Theoretical Structure

The notion of the diffusion of innovations is a useful tool for comprehending how employees adopt new technology in the workplace. Particularly, it has been utilized by researchers to examine how ideas are introduced and finally incorporated into an organization's culture. When applied to human resources, the diffusion of innovation hypothesis posits that technology would effect employee groups differentially, as some would be more likely to adopt it than others. In this aspect, digital transformation is likely to have a greater influence on specific employee groups or businesses (Akemu and Abdelnour, 2020). For instance, certain industries may be more susceptible to adopting new technologies than others. The high rate of technology adoption in the public sector relative to the commercial sector demonstrates this (De Vries, Tummers and Bekkers, 2019). Figure 1 demonstrates, in keeping with this thesis, that the diffusion of innovation theory categorizes people depending on their reactions to new technologies.

Figure 1 Theory of invention diffusion (Source: Boston University, 2019).

As seen in the preceding diagram, it is projected that 13.5% of people will be early adopters of new technology, paving the way for an early majority of workers to adopt the technology before others (the late majority and laggards) decide to adopt it as well. This theoretical foundation will be used by the researcher to comprehend how technology has affected the people management processes of small businesses.

Conclusion

Although researchers have extensively investigated the impact of technology on human resource management techniques, a study of the literature listed above demonstrates that the focus has been primarily on large enterprises, with small businesses receiving less attention. This research gap will be addressed by the proposed study, which is estimated to take 10 weeks to complete. On the basis of a weekly evaluation of assignments, Table 1 summarizes the many milestones that must be reached throughout this period.

Table 1. Gantt chart (Source: Developed by Author).

Activity Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8 Week 9

Reaching Out to Respondents X

Data Gathering

X

Synthesis of

X X

Development of the final report

X X X

Agreement with respondents (Member-check technique)

X

Discussion of findings

X

Reference List

Akemu, O., & Abdelnour, S. (2020). Facing the digital: doing ethnography in contemporary organizational settings. Organizational Research Methods, 23(2), pp. 296–306.

Bell, E., et al. (2018). Methods of business research. Oxford: Press of Oxford University

Boston University. (2019). Theory of the diffusion of innovation. Web.

The benefits of telework in the public sector: fact or rhetoric?, Review of Public Personnel Administration, 39(4), 570-580, 2019.

Research ethics in the digital age: ethics for the social sciences and humanities in the age of mediatization and digitization. Springer is based in New York.

Handbook of research on human capital and people management in the tourism business. Goncalves, C. V., et al. London: IGI Global.

Helmerich, N., Raj-Reichert, G. and Zajak, S. (2020) ‘Exercising associational and networked power through the use of digital technology by workers in global value chains’, Competition and Change, 4(1), pp. 1-10.

Managing monasteries: strategy and organizational design. New York, NY: GRIN Verlag.

Kumar, R. (2018). Research technique for beginners: a step-by-step tutorial. London: SAGE.

Research Outline. (2020) Mixed methodology research designs. Web.

The conservatism of emoji: work, affect, and communication. Social Media and Society, 9(2), 1-11, 2015.

The postgraduate's guide to research ethics (Temple, 2019). London: Red Globe Publications

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Management Development: Human Resource Planning Essay Help For Free

Table of Contents
Introduction Significant concerns in the functional area HRM operational aspects References

Introduction

Management Development is the process by which administrators study and improve their skills for the mutual benefit of themselves and their organizations.

In organizational development (OD), administration effectiveness is identified as one of the determinants of business success. Consequently, management development initiatives can have a direct financial impact on the organization.

Executives are susceptible to learning opportunities while executing their duties; if this informal education is formalized, it is considered expansion management.

Principally, it is important to stress that management development is used to manage and analyze the company's structure in order to create the most effective company's constitution and ensure that the organization has sufficient experienced personnel to satisfy the structure's sequence limitations. It is also used to coordinate and administrate continuing guidance performances among individuals and groups in order to achieve the company's objectives.

Typically, more than four years of training and/or experience directly related to the duties of the position are required for the individual to be qualified for the position. The development manager develops an atmosphere that encourages and sustains training and development. Manager provides internal talks and assembles exterior training and preparation as required. Managers are required to investigate workplace issues and procedures.

Collects and organizes information on educational requirements, matters, and practices pertaining to current subdivision operational procedures. Managers must also assess acquired data, organize and document study findings, make recommendations for the implementation of practices or structural changes, and provide reports to the superior administration. Manager improves stated instructional programs by taking into account all available explanations or exchange procedures. Lastly, he is required to guarantee that management apprentices reach their maximum potential.

Significant concerns in the functional area

Typically, investigative experience reveals a remarkable intersection in contemporary Management Development perceptions regarding American, European, or Pacific Rim organizations. In any of these domains, a common criticism is the incorporation of Management Development initiatives with strategic objectives to gain a competitive advantage. Returning Management Development objectives for presentation success and enhancement include:

The application of structural change and variation under unusual circumstances. Reducing rotation time for nearly every significant surgery and performance. Promoting ongoing training and development. Including and upgrading quality management performance and standards. Assorted cultural information as well as intercultural relationships. Developing leadership and relational skills.

Individual knowledge and expertise are tactically significant because they enhance the organization's basic competencies. This thankfulness becomes a sensible admissions requirement for the effective training organization. Management Development places the utmost importance on its success. The organization's long-term competitiveness is contingent on maximizing and utilizing all of its proficiency and talent. Typically, "knowledge" is the most valuable asset of skill-based organizations. Stable expansion is becoming into a way of life.

The organization development advancements of high-performing, management organizations are gradually differentiating themselves on the basis of seven characteristics. Their ongoing productivity and general management effectiveness serve as benchmarks for all businesses, regardless of size or territorial scope of operations. These qualities include:

Integration of Management Development with production diagrams and methods. Universal capacity enhancement remains a necessary but insufficient condition. The rapid rate of change necessitates a shorter time frame for augmentation, submittal, and adjustment. Gradually, further enhancement plans are initiated by addressing objectives and essentials while pursuing personal development. However, the corporation must frequently contend with the environment of rapidly changing technology and intense competition. Other companies were capable of producing comparable goods at comparable costs. To capitalize on the advantages given by the environment and counteract the risks, the company increased its HR Professionalism program. The purpose of this strategy was to promote a business environment, the "integrated commercial and deliberate people scheduling" "Seamless." ” In the past, businesses increased their directorial deposits as they grew to assist with harmonization, administration, treatment, and sequence issues. However, businesses have recently realized the negative effects of superfluous coatings. When associations become “too tall,” Shaw and Schneider (1993) assert that enhanced policy, flawed and belated choice, and unproductive statements occur. With around 6,000 employees, Nucor has a total of five deposits from the Chairman to row workers on the floor. The elimination of layers without management education will not guarantee success. Plans for management development that emphasize leadership will only be successful if they instill self-assurance in the employee. Oftentimes, one of the greatest challenges in strengthening Management Development programs is bringing about profound changes in one's own manners and attitudes. Plans for success include a genuine guarantee from high administration to fully support new Management Development concepts and roles. Universal in scope and transcultural Globally, development efforts are focused on efficiently addressing complex communication issues. Even if the company is tiny or adapted to the domestic market in terms of production or service, considerations of finances, viability, and sourcing govern their international attitude. The relevance of this authenticity can be determined by examining the findings of a report provided to the Fortune 500 companies in the United States. Internationalization-induced competition was identified as the factor most likely to influence future Management Development strategies. Personal development is emphasized within the context of managerial study. Curriculum stamps consist of empirical learning, continuous learning, and change. In both individual and group contexts, advancements integrate carefully on-the-job techniques and acknowledged programmed learning. Individual, group, and component learning are coordinated. Many businesses are very new to the concept of modifying the learning environment, while others have been on this path for years. Similarly, common managers at Motorola were forced to write an annual report detailing their accomplishments and what they learned in the process. The systematic repetition of these performances ensures consistency in managerial education. Typically, the development of a learning environment is gradual. Nonetheless, once a study program is in place, it has the potential to affect the company's history as well as the salaries of its employees. Therefore, firm benefits are comprehended long after respectable learning criteria have been taught. Company's culture and Management Development's intended specialization. Over the years, the significance of maintaining a shared set of expectations and significances has been met with considerable resistance. Trust and responsibility are perilous components. The perspective of management, structural values, and commercial history contribute to the formation of individual learning priorities and preferred customs. These factors have an effect on Management Development procedures and desired outcomes. Robert Horton of British Petroleum (BP) began Project 1990 in 1990. The purpose of the initiative was to prepare the organization culturally for the twenty-first century. British Petroleum's original culture emphasizes the development of crucial (core) performances that will ensure the company's survival in the future. By focusing on these abilities, termed 'open' activities (Open Thinking, Individual Influence, Empowerment, and Networking), BP has transformed itself into an organization that thrives on change while respecting the rights and principles of the individual. A concentration on career advancement. This is necessary for developing personal belief and responsibility. Central ability and authority are deemphasized, while trust and collaboration are emphasized. The examined methodological standards are applied to the individual and are insensitive to issues of race and sex. Age and adulthood are considered within the contexts of individual labor, occupation, and life. Gutteridge, Leibowitz, and Shore (1993) investigated the connections between professional advancement and tactical planning. Based mostly on interviews with top managers from organizations such as 3M and Amoco Production Corporation, the authors discovered that successful and unsuccessful businesses performed Organizational Career Development (OCD) activities differently. For instance, successful organizations obtained responsibility from the top down, stated touchable ideals, operated from the bottom up, and maintained flexibility. Central capabilities. These are both universal and technological, and their positional mobility increases dramatically with continued innovation. Failure to utilize these essential competencies, however, signifies their eventual depletion. The core competencies of employees are carefully aligned with the core competencies of the organization. Frequently, the timing and conjunction of high-priority business results are specified. In addition, some attribute skills become increasingly necessary regardless of whether the building is located in Europe, Australia, the Pacific Basin, or the United States.

HRM operational aspects

The findings of this study may suggest that worker demography plays a role in HRM research. While the results do not indicate that every demographic variable has a substantial impact on employee attitudes toward HRM, there is evidence to suggest that demography exists and should be a factor in both sample selection and quantitative research. Variation of respondent numbers within categories might have contaminated the results (e.g., European versus non-European is 3.5:1).

For the purpose area of EEO, demographic differences in employee perspectives on the importance of HRM are most apparent. Age has a negligible impact on the extent to which distinctions persist, with sex, background, and field being the most variable. The study also uncovered attitude differences regarding the submission of certain HRM experiences. Significant differences in employee attitudes are found for the HRM domains of good and secure operational environments and training and development, based on demographic grouping by industry and professional level for the previous HRM measurement.

In the submission of terms and conditions of employment for the entire workforce, consistency of dealing signifies stability. For example, all employees would have access to benefits such as health insurance and retirement programs.

Controversially, uniformity in terms and circumstances of work will not offer any real straight advantage to those in the higher strata of employment (i.e., experts), as this group normally receives full access to the organization's benefits. It has been acknowledged for a considerable amount of time that these schemes of substantial repayments (i.e., forms of extreme benefits), which have an inducement perspective, are likely to benefit those hired at lower levels (i.e., non-professionals), as it enables them to obtain benefits typically reserved for managers. As a practical aspect of HRM, it is prudent to consider the possibility of professional differences in employee perspectives on the importance of good and safe working environments.

Human resource management is the functional area inside commercial, community, and nonprofit organizations that is responsible for the management of human resources (i.e., the association's employees) to achieve organizational objectives. The definition of human resource contains five consistent functional areas:

HR strategy, employment, and diversity. Human resource upgrades. Compensation and benefits. Security and well-being of employees. Employment and labor relations.

Research indicates that effective presentation in these human resource functional domains is associated to the enhancement, effectiveness, and financial presentation of a company.

Typically, a human resource executive serves in an elective or staff capacity and collaborates with line managers to assist them in resolving human resource issues. While the human resource sector may be responsible for the development of human resource strategies, plans, agendas, and procedures, their implementation is mostly the responsibility of line administrators.

Due to external developments such as globalization, escalating competition, shifting demographics, and advancements in technology, the function of Human Resources is evolving in numerous businesses. Human Recourse is becoming acknowledged as a true production unit that is intentional in nature and detrimental to achieving corporate objectives. In order for the institute's human resources to be able to fulfill its goals and responsibilities, HR planning and execution must be strategic and comprehensive. As more organizational and regular HR tasks are mechanized or outsourced, HR managers are better able to focus their attention on issues of strategic importance to the firm.

References

Gutteridge, T., Z. Leibowitz, & J. Shore. "A New Look at Organizational Career Development." (1993).

Human Resource Planning, 16(1):71-83.

Shaw, D., and C. Schneider, "Managing Organizational Change: The Keys to Successful Delaying," 1993.

Human Resource Planning, chapters 1-17.

The Impact of 1993 on Management Development in Europe, by Frank Bournois.

International Studies of Management & Organization, Volume 22.1, Issue 1 (1992): 7.

Human Resource Planning 20.1 (1997): 14. Burack, Elmer H., Wayne Hochwarter, and Nicholas J. Mathys. "The New Management Development Paradigm."

Evans, Paul A. L. “Management Development as Glue Technology.” Human Resource Planning 15.1 (1992): 85.

Montminy, Paul M. “Selling through Professionalism.” Security Management. 1993: 22.

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Resource And Talent Planning Within Organization Essay Help For Free

Labour Market Major Modern Market Tendencies Demographics

Employment rate refers to the proportion of individuals between 16 and 64 years old who are employed. 75.2% of those within the specified age range are employed, according to a rough analysis of the UK labor market for 2020 ("Labour market overview," no date). In 2020, around 1.72 million (5%) British citizens were unemployed (“Labour market overview,” no date). Approximately 8.59 million individuals, or 20.7%, are economically inactive (“Labour market overview,” no date). The figures presented above illustrate the demographics of the British labor market.

Typically, the employment ratio for the United States reflects the employed civilian non-institutional population. The rate of employment in the United States in 2020 was estimated to be 56.8%. Employment in the United States: statistics and facts, 2021 In January 2021, the US civilian labor force numbered roughly 160.16 million people (“US employment: statistics and facts,” 2021). According to the latest recent Labor Department figure, the official unemployment rate for US citizens and residents is 10.1 million, or 6.3%. (Long, 2021). As of January 2021, the inactive labor force rate in the United States was roughly 101.62 million people (U.S. employment: statistics and facts, 2021). The figures presented above illustrate the demographics of the US labor market.

Types of Agreements

Both nations offer the following contract types: full-time, part-time, fixed-term, agency, zero-hour, independent contractor, and freelancer. Permanent work opportunities in the UK and US are typically provided full-time contracts (Cheary, no date). Typically, part-time employees are contracted for fewer hours than their full-time colleagues. Employers must provide a detailed explanation of the weekly hours that part-time employees are required to work.

Typically, fixed-term contracts have a predetermined duration; their start and end dates, as well as the duties to be performed, are determined in advance. Employers in both nations should give fixed-term employees with the same benefits and entitlements as part-time and full-time workers. Depending on the underlying conditions, there exist additional factors that could trigger the extension of these contracts. Agency employees' contracts are frequently signed and maintained by a recruitment agency (Cheary, no date). In both nations, the agency is charged for protecting the rights of their respective workforce. In the United Kingdom, the employer to the worker's agency must pay Statutory Sick Pay (SSP) and National Insurance (NI) contributions (Cheary, no date). In contrast, in the United States, these workers receive their benefits and payments directly from their separate agencies, with no employer involvement (“Types of employment,” no date). After twelve weeks of continuous employment in the same capacity, these workers are often entitled to the same benefits as permanent employees.

Typically, freelancers have greater control over their work and how they do allotted tasks. They must manage their tax data, payment agreements, and perks, including health insurance, in both countries. In addition, they are not entitled to some employment rights, such as the minimum wage. The provisions of zero-hour contracts highlight that a worker only works when requested by his or her employer. These workers have the same job rights in both countries. In addition, firms in both nations must pay this workforce at least the national minimum wage.

How Organizations Should Position Themselves Regarding Talent Retention

A company might present itself as "employer of choice" in order to retain and recruit top talent. To be considered a “employer of choice,” a company must consider many human resource aspects and seek to improve its procedures continuously. An organization should establish effective leadership methods and enhance worker and management team collaboration. Employers must also support the health and safety of their employees, including a better work-life balance.

Additionally, they should offer possibilities for staff training and growth. Firms should also engage in sustainable practices and community development, as well as adopt policies and processes that promote workplace inclusion and diversity, employee satisfaction, competitive compensation, and recognition of industrious employees. There are a number of advantages connected with being an employer of choice. This approach has been associated with increased staff productivity. Second, being a "employer of choice" can help businesses reduce their hiring expenses. Thirdly, this technique plays a significant part in fostering a healthy organizational culture that prioritizes employee safety, increased compensation, and professional development.

Employer branding is an additional retention strategy that firms can implement. It involves building a positive brand image for the company among potential employees. To build a successful employer branding strategy, the firm must

Align its plan with the organization's fundamental requirements. Develop targets and goals that are attainable and realizable. Describe applicable critical performance metrics (KPIs). Develop an evaluation plan to determine the effectiveness of the established employer branding strategy. Ensure the right allocation of resources required to promote the brand strategy.

Developing an effective employee value proposition is another approach a company can adopt to ensure high employee retention rates (EVP). A compelling EVP may aid organizations in retaining and attracting top people; it enables companies to optimize recruiting costs and promotes employer branding. To establish an acceptable EVP, businesses must evaluate their current offers, conduct interviews with former and current employees, and identify the major EVP components. The organization should then draft its employee value proposition, market it via the proper channels, and evaluate its effectiveness over time.

The Importance of Tight and Loose Labor Market Conditions

A tight labor market is a circumstance characterized by near-full employment. Therefore, in a tight labor market, labor demand skyrockets while supply is essentially constrained (DiTomaso and Bian, 2018). As a result of the increasing bargaining power of the workers on the market, organizations often have difficulties in recruitment as a result of the low number of available personnel (DiTomaso and Bian, 2018). The significance of a tight labor market is that it leads to a continual increase in the wage levels of the market's existing workers as a result of high demand and low supply (Humburg, De Grip, and Van der Velden, 2017). When labor is in great demand, corporations incur higher labor costs due to pay increases, hence reducing profitability. In contrast, employees profit economically as a result of high wages.

In contrast, a flexible labor market is an economic phenomena characterized by high unemployment rates. Employers have access to a vast pool of qualified candidates. As a result, there is a considerable shortage of paid labor and an increasing supply of workers due to the labor market's slack conditions (Humburg De Grip, and Van der Velden, 2017). The benefit of a slack labor market is that it induces a downward trend in wages due to the considerable bargaining strength of employers (DiTomaso and Bian, 2018). When the demand for labor is low, corporations benefit by cutting labor costs and boosting profits, but workers are constrained economically by low salaries.

Future Skills

The Role of the State, Labor Unions, and Employers

Governments around the world are currently prioritizing lifelong learning, education reforms, and reskilling in order to equip the existing and future workforce with the skills deemed essential to address this creative transformation. For example, the Indian government recently launched the FutureSkills portal to promote reskilling in the IT industry (Rohaidi, 2018). Governments also fund apprenticeships and certify relevant institutions to encourage the development of necessary skills. According to Rohaidi (2018), the Australian government created the “Skilling Australian Fund,” which offered $1.5 billion to support traineeships and apprenticeships. Additionally, unions have played an important role in encouraging education and skill development.

Unions often fight for the professional improvement of its members through union learning representatives (ULR). According to Bridgford (2017), ULRs also collaborate with companies to guarantee that workers receive the required support and training. Bridgford (2017) found that union members are more likely to receive regular training opportunities than their non-union peers. Employer-led organizations also play a crucial role in updating apprenticeship standards for a variety of job roles and industries. By putting companies in charge of apprenticeship development, governments hope to build a traineeship system that equips individuals with the industry-specific employment skills they need to succeed.

Personnel Planning

Fundamentals of Workforce Planning

Workforce planning is a crucial business practice that connects the changing needs of a firm with its people strategy. Among the examples of workforce planning principles are needed competences and gap analysis. Identifying necessary skills requires determining the future needs of the workforce. This can be accomplished by identifying prospective competencies and dexterity as well as estimating the timescales involved. In contrast, gap analysis entails identifying knowledge and proficiency gaps within a workforce. Future positions will certainly require extensive digital and technology knowledge. Therefore, if retention and recruiting pose a substantial challenge, the firm will need to increase the skills of its personnel via staff training or outsourcing.

Tools for Workforce Planning

Scenario planning is a method for workforce planning that involves generating predictions about the future. This tool can be used to assess future workforce requirements (necessary competences) and also illustrate how different futures may effect human resource requirements. It can also assist professionals in developing adaptable and backup plans for achieving future objectives. The span and gap analysis instrument can also be used to conduct a skills gap study (Pitmann and Scull-Russ, 2016). This instrument can be used to discover the proficiencies an organization requires to fulfill its goals, assess existing abilities, and design plans to close the identified gap.

Human Resource Planning and Documentation

Role of Human Resources in Creating Succession and Career Development Plans

Succession planning refers to the process of identifying and cultivating future leaders capable of succeeding incumbents upon their retirement, demise, or resignation. During the succession planning process, HR is responsible for a variety of responsibilities in conjunction with senior management.

Recruiting highly qualified candidates for the specified positions. Developing excellent evaluation processes that provide workers with meaningful and timely feedback and serve as a plan for tracking their progress and history. Person-centered management training program planning. Analyzing and suggesting appropriate remuneration packages for high-potential employees. Developing and evaluating employee retention strategies to enable the enterprise's retention of outstanding talent. Developing methods of reporting to inform the board and upper management on the progress of specific applicants.

Role of the Human Resources Department During Downsizing

Reducing the number of employees is a common occurrence in the workplace, as firms strive to save expenses and adapt to shifting market demands. HR professionals typically play a vital role in this process and execute a variety of activities. To guarantee openness, HR professionals should be forthcoming about the current state of the organization and its potential impact on the workforce. They should provide regular updates on the company's status and responses to concerns and queries from the workforce.

Additionally, the HR team can provide assistance by training stakeholders, employees, and line managers. As a technique to prepare workers for activities, HR experts can notify workers about downsizing. They are responsible for communicating with former and current employees, allocating responsibilities, boosting employee morale, organizing layoff meetings, directing persons to outplacement agencies, and addressing legal issues. Top HR professionals can also offer assistance by delivering effective leadership. During downsizing, employees typically have an endless hunger for information and sentiments of anxiety, dread, and rage. These professionals should be willing to answer queries regarding the method from employees. The morale and output of employees could be negatively affected by ineffective leadership.

During downsizing, top HR professionals can also apply tactics that promote justice and equity. Creating a layoff team, investing in outplacement service providers, establishing open communication channels, planning a timeline and allocating tasks equally are some of the approaches suggested. These specialists can also maintain a managed approach during the layoff process by employing HR department experts to monitor the current work environment. This will ensure that the management team utilizes the unit-established approach and evaluates employee replies.

Role of Human Resources in Creating Job Descriptions and Competency Frameworks

A job description describes the working circumstances, responsibilities, purpose, duties, and scope of an occupation, in addition to its title and the designation or name of the individual to whom the employee reports. HR specialists play a vital role in mentoring and helping the process of upgrading job descriptions. Typically, they evaluate the suitability of a particular job description within the context of the wider organization and the company's legal requirements. Experts in human resources are able to uncover unit-wide similarities and compare related occupations to produce consistent responsibility levels and acceptable job description language (Bailey et al., 2018). In addition, these professionals play a vital role in the development of person requirements and competency frameworks. Typically, they cooperate with relevant experts to identify the required competency, knowledge, experience, and abilities, as well as the necessary academic credentials, for a candidate to perform the responsibilities and duties outlined in the job description.

Principal Legal Conditions Regarding Recruitment and Selection

Legal Requirements

The Equality Act (2010) and the GDPR update from May 2018 are among the regulatory statutes applicable to the recruitment and selection process. The Equality Act (2010) is a British law that protects persons against discrimination in society at large and in the workplace (Davies et al., 2016). This law protects motherhood and pregnancy, civil partnership and marriage, sexual orientation, sex, belief or religion, race, gender reassignment, age, and handicap. Additionally, it expands some provisions to those who were not previously covered and reinforces particular equality law provisions. The GDPR update from May 2018 was initially included in the Data Protection Act (DPA) 2018. Brodin (2019) refers to the GDPR as the General Data Protection Regulation of the United Kingdom. It provides the fundamental requirements, rights, and principles for processing personal data in the United Kingdom. The Act was modified to ensure its effectiveness in the United Kingdom.

Methods Employed Throughout the Recruitment and Selection Procedure

Preliminary screening and employee referral programs are the two most common examples of approaches utilized during the recruiting and selection process. Bailey et al. (2018) define initial assessment as the sorting phase comprising the elicitation of information from candidates about their expected salary, abilities, work experience, and education, as well as the provision of critical information on the nature of the occupation. Comprehensive approaches to background checks can assist firms in selecting the most qualified individuals for each position while adhering to applicable requirements. Quality background checks can also result in the enrollment of high-quality employees who are more productive and a better match for the organization. This may result in a drop in the cost per hiring and an improved pre-employment screening. Among the disadvantages of preliminary evaluations are the possibility of bias or discrimination during the screening process and its effect on the employment process – it may slow down the hiring process.

Employee recommendation is an internal recruitment strategy used by firms to separate prospective candidates from the social networks of their current employees. Bailey et al. (2018) correlate employee referrals with high returns on investment (ROI), claiming that operating a productive or fruitful employee referral program can assist firms in reducing costs associated with the hiring process.

Forecasting In Operations Management Essay Help For Free

Introduction

According to Porter (2011), operations management is an organizational function concerned with the management of resources required for the production and distribution of goods and services. Since all organizations, whether large or little, public or private, for-profit or not-for-profit, create goods and services, its operations must be managed. Operations management encompasses a variety of tasks involved in the organization's production of goods and services. It focuses on the transformation of inputs into outputs in accordance with an organization's policies.

The content of this study will explain several operations management ideas. In addition, it will assess the applicability and relevance of one of the operations management subjects to the modern corporate environment. The selected topic will be predicting.

Historical progression

Over the years, numerous organizations have recognized the significance that operations management plays in fostering development within the restrictions of the company and the national economy. Adams Smith initially developed this concept in the seventeenth century. In his opinion, work should be divided into numerous jobs, and each person should specialize in the task at which they are most proficient.

Taylor utilized Smith's insights to construct his notion of scientific management in the twentieth century. Between 1930 and 1950, the term production management was used for operations management. The majority of businesses were engaged in the manufacture of goods. During this time, firms focused in boosting efficiency in the manufacturing process by closely examining personnel to ensure that their efforts increased the organization's productivity (Sahaf, 2009). By 1970, the majority of firms had developed management techniques that emphasized service delivery in addition to product manufacturing.

This resulted in the development of the term "Operations management." By then, service organizations had grown prominent. During this time, there was an increased emphasis on the production and administration of commodities and services (Kumar and Suresh, 2009).

Operations management concepts

Joseph (2004) describes operations management as a process involving the addition of value to the system's input resources in order to create the output specified by the organization's policies. It is the responsibility of the operations manager to ensure that high-quality, cost-effective outputs are produced by coordinating all necessary inputs, such as supplies, capital, and labor, and the schedule of activities involved in the transformation process. The operations manager must also maintain control over the entire system to ensure that high-quality, cost-effective outputs are produced (Torben & Winther, 2010). As the author remarks, definition of the notion comprises four major aspects namely:

Resources

They come in many forms, including human labor, materials, and capital. Human force refers to the labor that employees provide. Material assets are tangible entities, such as machines and supplies. Capital might take the form of loans, bonds, or shares.

Systems

This is the combining of several production process factors to obtain the desired outcomes. As operations are only one of an organization's functions, they constitute a subsystem of the organization's larger system. It improves the link between the system's input, transformation process, output feedback, and the surrounding environment. The subsystem ensures that, in addition to manufacturing high-quality goods cost-effectively, the organization's overall objectives are also satisfied. This necessitates integration with other subsystems inside the organization.

Value addition

Value addition is the process of making inputs more valuable than outputs. This is achieved via the transformation procedure. In today's business world, the use of technology facilitates transformation. The effectiveness of the process determines the organization's output. Productivity is the ratio between the rate of production per hour and the cost of inputs. If the ratio between output per hour and cost of input is more than one, the input will be judged to have added value. Managers of operations should prioritize maximizing the ratio and enhancing the transformation process's efficacy.

The primary objective of operations management is to offer consumers with high-quality services that suit their needs while maximizing the use of available resources. Operations management is oriented on ensuring that client requirements are met satisfactorily within the allotted time frame and at a reasonable cost. Utilization of resources refers to maximizing the output of employed resources by minimizing their waste or underutilization. While conducting operations management activities, the two objectives should be taken into account. Managers of operations should establish a balance between the two objectives since if one is improved, the other suffers. The equilibrium is influenced by market developments, market competition, and the organization's strengths and shortcomings.

According to Stevenson (2007), operations management encompasses a variety of interdependent organizational functions. Among these activities are forecasting, capability planning, scheduling, quality assurance, personnel motivation and training, and inventory management. As an illustration of these activities, let's consider a contemporary airline corporation.

First, prediction operations would include such factors as weather conditions, demand for the company's flights, and the growth of the company over a specific time period. According to Charry (1995), projection enables an organization to plan effectively and create daily agendas. In this instance, the airline will be able to create a timetable for its daily flights that takes into account varying weather conditions.

It will be possible to increase the number of airplanes and flights if demand for the company's flights is significant. Second, capability planning would comprise the maintenance of a company's cash flow by evaluating the company's capacity in terms of its accessible assets. The airline should be able to determine its capacity to own a particular number of aircraft. Poor maintenance on an excessive number of planes will be extremely costly for the corporation.

A corporation can choose to have a small number of well-maintained aircraft and still obtain maximum profitability. Thirdly, scheduling in the organization entails creating a timetable that indicates when various pilots and flight attendants will be assigned their jobs. The other activity is quality assurance, which consists of efforts designed to ensure that the organization provides clients with high-quality services. The airline company's primary concern would be passenger safety, as well as the delivery of services with efficiency and civility. Ticket booking centers, telephone systems, and the cargo services department would be among the different departments affected by the issue of quality control.

Inventory management comprises the fifth activity. To improve the operation of a company, all businesses acquire a variety of goods. The airline would purchase amenities such as food and beverages, safety equipment, reading materials such as magazines, and beds for the passengers. It is necessary to maintain and manage inventories of such items. Finally, employee encouragement and training entails encouraging workers at all operational levels.

Staff at all levels should receive training on how to carry out their responsibilities and be helped to recognize their unique roles. In terms of operations management, service operations and manufacturing operations share a number of similarities. All require activity scheduling, employee motivation, equipment maintenance, quality assurance, and, most significantly, a desire to meet customer requirements.

Management systems

An organization's operating system facilitates the transformation of inputs into outputs in accordance with client specifications. The system adds value to the input, which could be a tangible or immaterial substance. Similarly, the result that is more valuable than the input can be a tangible good, such as in automobile manufacturing businesses, or a service, such as in hospitals and schools. Everett and Ronald (1994) define an operating system as a component that aids in the creation of goods and services inside an organization. In contrast, Ray Wild defines it as a collection of numerous organizational resources that aid in the provision of goods and services.

According to Morris (1978), an operating system is a collection of resources whose purpose is to deliver commodities and services. The author defines operations management as the design, planning, and management of the operating system.

Concepts and theory of operations management

When theories and concepts are produced, they are useless unless they are implemented in real-world situations. This implies that it is one thing to develop a theory but another to put it into practice. Not even operations management theories and concepts are exempt. Operations management is all on gaining a deeper comprehension of how things function. Diverse authors have produced concepts and theories to aid operations managers in managing all activities involved in the production of goods and services. This is accomplished by increasing productivity while simultaneously decreasing resource waste (The Restoration Resource, 2009).

According to the ICAB tutorial (2013), operations management is responsible for the control of the organization's performance by ensuring the proper usage of resources to fulfill the specific needs of the customer. This function is to increase the value of the production process's inputs. Every commercial enterprise, whether manufacturing- or service-oriented, has operational operations. In the discipline of operations management, significant concepts and theories have evolved in recent years. They are said to have significantly impacted the performance of companies by assisting them in achieving their objectives. The author elaborates on the following themes and theories:

Total Quality Administration (TQM)

This is an endeavor by the organization's management to improve the quality of a product or service at every stage of its creation. This is ensured by the efficient administration of the employees and the production procedure. This means that every human resource action throughout the entire process is closely monitored to guarantee the end product fulfills consumer expectations. This provides a competitive advantage over the competition. In addition to ensuring that the final product is of excellent quality, TQM ensures that every employee participates completely in the process.

Just-in-time

In this notion, organizations acquire materials only when they are needed for production. They do not acquire a large quantity of materials for storage, but rather simply the materials required at a given time. This helps to improve the production efficiency and cost effectiveness of a business (Badenhorst & Brevis, 2008). This is accomplished by decreasing the storage expenses associated with storing components slated for use in the production process. This notion has been implemented mostly by the finest manufacturing businesses, such as Toyota, Coca-Cola, and Dell.

Kaizen system

Kaizen is a Japanese-derived term that was introduced by Japanese firms immediately following World War II. It is used to indicate continuous improvement. This method includes everyone in the production department, including the upper levels of management. These individuals are all active in enhancement. Improvements in the production process are shown through improving safety and operating efficiency by reducing waste (Lawrence & Klimberg, 2009). In addition, it guarantees that the production process adheres to the highest standards and that all personnel, from the most junior to the most senior, are brought on board.

The concept of constraint

This approach focuses primarily on identifying and eliminating all constraints and obstacles that hinder the industrial process's efficiency. This procedure is sequential. Various organizations also employ this approach to make tactical decisions for the organization's continuous progress.

The Restoration Resource (2009) stipulates that another important idea is project planning in the context of flood damage mitigation. The author comments that after a region has undergone flooding, it is necessary to do a cleanup in order to recover what has been lost and destroyed. Concepts from operations management would be of great assistance with the cleanup. It will help to expedite and optimize the procedure.

The notion of project planning will ensure that a thorough plan outlining the necessary schedules has been established prior to the start of the cleanup operation. This guarantees that participants participating in the program have a grasp of the various activities, hence preventing time loss once the program begins. In addition to aiding managers in exercising control over the entire process, the strategy enables them to identify idle employees.

The diagram illustrates the sequential relationship between the various cleanup program procedures. For instance, the region must be cleansed by removing all debris, fixing roads and other infrastructures such as utility poles and wires, and re-establishing power lines. The explanation of the various processes aids in preventing confusion that may develop when different members of the cleanup crew do their assigned tasks. The second is the capacity analysis idea.

The cleanup crew must assess the capacity of its personnel and equipment to handle the problem. This helps to make the entire process run smoothly by eliminating any potential obstacles along the route. After learning about ability and potential, a team determines the number of individuals required to complete a task and the essential abilities. The final concept is that of location planning. The supervisors working in the clean-up operation should be able to identify flood-prone locations and put their fully-equipped offices there. In designing the facility, distance to the affected area and travel time, among other factors, must be considered.

All of the aforementioned notions and theories are intended to aid an organization in determining its future strategy and current operations. As observed, each thought has a distinguishing characteristic that sets it apart from the rest (Turner, 2002). TQM, for instance, focuses on all operational tasks, whereas Kaizen aims to reduce waste in the production process.

Production method

Production is the process of transforming inputs into high-quality outputs in accordance with an organization's policies. The procedure may involve chemical or mechanical steps. In essence, production adds value to inputs (Bijak, 2011). The production system, on the other hand, is the organization-wide structure that facilitates the production of goods and services. The system is comprised of numerous components that collaborate to improve the entire procedure. This means that failure in one of the components will affect the others and eventually the whole system. These factors include:

Inputs: this comprises

Strategy Audit: Novartis International AG. Essay Help For Free

Table of Contents
Corporate Culture Situational Analysis Strategic Alternatives and Recommendation for Strategic Alternative Implementation

One of the greatest threats posed by the task environment to Norvatis is the loss of market individuality. One of their most popular goods, Diovan, is threatened in the marketplace. As noted in Luthans, this effect is currently felt in the EU and is projected to be experienced in the US in 2012 and also in Japan come the year 2013. Davis indicates that this will create an undesirable substance effect on the general output of the company (218). In addition, Gullick and Urwick indicate that Norvatis faces the problem of decreased net sales for branded products due to the emergence of a new, highly competitive generic version of branded drugs (820). Hence those manufacturers offering unbranded versions have sharply reduced the prices of their brands thus facilitating them to gain more market share as compared to those with branded generic versions thus enhancing rigorous competition for market share (Filley).

This competition has been further enhanced by the expiry of the patent term and the emergence of a brand generic version medicine of an identical therapeutic group. The opposition of manufacturers, particularly with regard to items facing legal risks of patent infringement prior to the final legal conclusion, also poses a significant challenge to the task environment. According to Koontz and Weihrich, "the majority of the time, the company relies on a third party to carry out some of its most vital functions, which has historically been a significant disadvantage for the business."

Davies writes in his book, "It is observed that the majority of buyers are unwilling to purchase patent products due to their high prices, and in most cases these buyers use their bargaining power through their unions to advocate for a reduction in the prices of these pharmaceutical products." It has been witnessed that most buyers tend to buy unbranded products which are being offered at cheaper prices, thus hindering the profit-making ability of Norvatis (Mintzberg).

Because the company operates in approximately 140 countries, it is obligated to comply with the laws of these countries. However, it is sometimes faced with the problem of substantial liabilities especially if the company violates any of these laws. This in turn hurts the company’s operations and reputation since these liabilities are rarely paid by insurance. For example, the corporation has suffered tremendously from a variety of legal actions due to rising litigation and government inquiry, particularly in the United States. These legal processes include proceedings on product liability, tax, and marketing practices e.t.c. the business has also been subjected to regular governmental investigations and information demands by regulatory bodies (Mundell) (Mundell).

Currently, the company is experiencing a global economic and financial crisis, which has resulted in a decline in the value of its assets, a lack of liquidity, and insufficient capital for the expansion of the business. For instance, the continuous debt situation in some European nations has caused healthcare corporations in those nations to reduce the prices of their products. In Jenster and Hussey, the economic crisis may also mean that corporations such as Novartis may not receive debts from countries experiencing an economic downturn. This economic crisis may also lead to devaluation and inflation therefore causing Norvatis see a significant loss (Novartis-20F-2010) (Novartis-20F-2010).

The company may also be in a position to predict accurate future revenues and earnings that the company will realize when giving the company’s future guidance on the future market conditions (Nystrom and Starbuck) (Nystrom and Starbuck).

Corporate Culture

In the majority of cases, Novartis has endeavored to create trademarks that are of the utmost importance to customers. This has assisted in preventing brand infringement in areas where the brands are sold. The corporation often employs alternative trademarks especially where legal or language concerns are required, to help differentiate local and worldwide trademarks (Robbins and Coulter, Reillyand Brown ). (Robbins and Coulter, Reillyand Brown ).

In Barro and Vittorio, it is also mentioned that Norvatis patents its products in order to prevent competitors from developing a new brand of their products by gaining access to sensitive information (102). This information comprises the product’s active component and its formulation, the technique for making the product, and its intermediates employed in its manufacture, and the special uses of a product. The company by all means ensures that it protects the significant development of a product in all major markets. Barro and Vittorio highlight, however, that the company also sells products that are currently patent-uncovered due to patent expiration, while others have never been patent-protected (89).

Before an over-the-counter (OTC) product can be marketed, a detailed prescription of its intended use must be prepared and filed by the relevant national or international registration authority, with the approval of the relevant health authority. Robbins reiterate that; the company’s healthcare practices in its products i.e. in the company’s branch in the US, an OTC product is only marketed after it has through the OTC Drud Review which ensures that the drug is safe and effective for human consumption (112).

In addition to its competitive nature, the company believes in the manufacturing of high-quality goods. This competition is intense and encompasses a vast array of commercial activities, including enhanced customer service and product pricing, among others. The business has increasingly invested in internal research and development operations through CIBA, which has led to the introduction of new chemistries, lens designs and surfaces, and processing technologies (Anderson).

Situational Analysis

One of Preker's strategic ambitions is to own 77% of Alcon, Inc (Alcon), a firm renowned for finding and manufacturing revolutionary eye care solutions that help people see better. According to an announcement made by the company on December 15, 2010, the company had formally signed a merger agreement with Alcon, whereby Alcon would be merged into Norvatis under certain terms and conditions to be outlined by both parties, with the merger expected to be finalized by mid-year 2011.

The corporation also expect to evolve along with the demands of the healthcare market by coming up with a series of new drugs. This is anticipated to be accomplished by the company's extensive, determined portfolio, innovative capabilities, and well-established reputation throughout the region (Taylor).

Strategic Alternatives and the Recommended Alternative

In the effort to achieve its objective, the organization has a variety of strategic options from which to choose in order to advance. Among these are innovation, an aging global population that necessitates continuous accessibility, and a demand for healthcare management that requires the attention of pharmaceutical companies; there is also the anticipated growth of emerging markets as a result of the successful development of developing nations in the coming years (Tobin).

Others include lifestyles enhance the spread of chronic diseases and scientific advancements which opens new prospects targeted therapies thus requiring the company’s attention to increased productivity. However, it is worth noting that the company should tirelessly work on the strategy of innovation in order to come up with new healthcare systems which would help solve the aging global population being one of the biggest strategic opportunities that the company is faced with in its operations (Cleland and King).

Implementation

In order to implement the recommended strategy, the company is trying to restructure itself since the recommended strategy is a long-term process which requires continuous healthcare attention. This is primarily evident at Tsaing's employment level, where the corporation has attempted to increase employment opportunities. It is also planning to join with Alcon to help it further enhance its aim of providing healthcare services. This is anticipated to generate substantial long-term revenue (University of Michigan).

Novartis is also expected to acquire Genoptix, Inc in cash tender offer of $25 per share. This would assist provide strategic alignment with the company's Molecular Diagnostics unit and ensuring that the internal capabilities aimed at improving healthcare outcomes through the development of individualized treatment regimens are realized.

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[supanova question]

Managing Finance: Barney Bakes Ltd Assessment Essay Help For Free

Abstract

Barney Bakes's profitability is in jeopardy; consequently, it must improve its profitability by boosting sales; as a result, this will raise the earnings attributable to equity owners and the amount of earnings available for dividends. This also puts the liquidity of the company at risk; the management should take steps to improve the company's liquidity. This can be accomplished by enhancing the firm's credit policy, so raising the overall number of debtors, and by keeping more cash on hand and in the bank; these actions improve the firm's current assets.

None of the three budgeting systems — Traditional, Incremental, and Hybrid — offer optimal ways of planning, harmonization, and control (Irons, 2010). The optimal answer may appear to be somewhere in the middle of the three ways; nevertheless, the optimal solution will rely on how Barney Bakes exploits any of the three approaches.

In a decision-making exercise involving the discontinuation of one of the product lines using a decision-relevant method, Barney Bakes should not discontinue any of its product lines because the division contribution margin is favorable and the product line poses no problem for Barney Bakes ltd. Barney Bakes ltd should apply economy of scale in the manufacturing of Cakes and Biscuits because, via economy of scale, the company will be able to cover all fixed and variable production costs and expenses (Irons, 2010).

Analysis of ratios and commentary

The ratios for Barney Bakes, Inc.

Ratios de Profitabilité 2010 2009 2008 2007 2010

Return on Shareholders' Funds 20.93% 21.03% 23.46% 20.37%

Return on invested capital 24.46% 25.10% 29.63% 26.10%

Gross margin of profit 61.67% 61.49% 62.33% 61.98%

Operating Margin 7.36% 7.05% 8.14% 7.67%

Net income margin 5.22% 4.95% 5.83% 5.36%

Performance Ratios

Stock Turnover (days) (average) 25.99 16.64 15.15 14.06

Trade Debtor (days) 0.39 0.22 0.13 0.13

Trade Creditor (days) 50.93 40.07 48.88 43.13

Sales to Capital Employed (asset turnover) 3.32 3.56 3.64 3.4

Sales per Employee (£) 34561.33 32,357.99 £31,141.61 £ 29,032

Liquidity Ratios

Actual Ratio: 0.83 0.53 0.54 0.66

Ratio of acidity 0.69 0.37 0.41 0.54

Coupling Ratios

Ratio de engrenage 17,05% 16,17% 9,58% 10,49%

Capitalization Ratios

payment of dividends 49.74% 48.42% 52.56% 30.32%

Dividend cover 2.01 2.07 1.90 3.30

Dividend yield 45.03% 42.65% 38.33% 19.91%

317.70 303.51 322.12 263.000

1.23 1.26 1.52 1.69 Price-to-Earnings Ratio

Financial ratios Interpretation and recommendation

Profitability ratios, efficiency ratios, liquidity ratios, gearing ratios, and investment ratios are included, as these are the most often utilized ratios (GoldmanSachs.com, 2011). Profitability ratio assesses managerial effectiveness as demonstrated by sales and investment turnover (GoldmanSachs.com, 2011). This implies that if a company is profitable, it will be able to meet its short-term obligations and pay dividends to its shareholders. Included in this category are the Net profit margin, the Gross profit margin, the return on capital employed, the operational profit margin, and the return on shareholders' funds. Return on capital employed has reduced due to a rise in leverage and shareholders' equity, while return on shareholders' equity has decreased due to an increase in leverage and shareholders' equity. Compared to previous quarters, gross profit, operating profit, and net profit margins have improved, indicating that the company was successful in limiting its cost of sales, operating expenses, and financing costs, resulting in a higher ratio that is advantageous for the company.

The efficiency ratio evaluates the effectiveness with which a company converts its assets into revenue. It is also known as the activity ratio or turnover ratio since it indicates the pace at which assets are converted into sales (GoldmanSachs.com, 2011). A balance between sales and assets indicates that the assets are effectively handled. These ratios demonstrate how effectively a business has handled its current assets and long-term liabilities (Drake, 2009). It takes the company around 26 days to convert shares into revenue, which is longer than in prior years; this indicates that in 2010 the company is taking longer to sell its stock.

In addition, the current year's average collection days are longer than those of previous years, indicating that the company's credit strategy is inefficient. It takes longer for the company to collect its debts, indicating that in 2010 it had more cash on hand to satisfy its short-term obligations and that its suppliers had more faith in the company, as they were willing to wait longer for payment. Due to an increase in capital employed, the number of times that capital employed can be covered by sales has reduced over time. In 2010, the number of employees was lowered, resulting in an increase in sales per employee.

Liquidity ratios reflect the firm's capacity to meet its short-term maturity obligations as they mature; they indicate the firm's liquidity risk; the lower the ratio, the greater the liquidity risk, and vice versa (Meir, 2008). The firm is more liquid in 2010 compared to 2007, 2008, and 2009; yet, its current and quick ratios are beyond the statutory safety margin of 1 for both current and quick ratios (Meir, 2008). This indicates that the firm is unable to satisfy its short-term obligations when they become due; hence, the firm's liquidity is inadequate.

Gearing ratios, on the other hand, assess the amount to which a company utilizes assets financed by non-owner funds, i.e., they measure the company's financial risk. The greater the ratio, the greater the firm's financial risk. Then, a company should have a proper combination of debt and equity financing (Atrill and McLaney, 2006). In 2010, 2009, 2008, and 2007 the company raised, accordingly, 17.05, 16.17, 9.58, and 10.49% of its capital as debt.

The gearing level is good since the ratio in four years is less than 50%; it increased by 18.29% in 2010 compared to 2009 due to an increase in defined benefit pension liability, deferred tax, and other long-term provisions.

The investment ratios are used to calculate the company's overall success. They are also used to determine the dividend policy of a corporation, the impact of a proposed financing option on the company, and the impact of a right issue (Microstrategy.com, 2011). Investors can use the investment ratio to estimate the theoretical worth of a company's securities and whether they are overvalued or undervalued (Microstrategy.com, 2011). In 2010, 2009, 2008, and 2007, the company distributed 49.74%, 48.42%, 52.56%, and 30.32% of earnings attributable to equity shareholders as dividends, while retaining 50.26, 51.58, 47.44%, and 69.68% of earnings as retained earnings.

In 2010, the corporation paid larger dividends than in 2009 and 2007, indicating that less capital was held to meet future demands. In 2010, the number of times earnings attributable to equity shareholders can cover dividends is lower than in previous years, with the exception of 2008; this indicates that the company's ability to pay dividends to its shareholders is not secure, suggesting that it will not maintain or increase dividends in the future. In 2010, shareholders would get cash dividends of 45.03 percent for every share purchased in the corporation at the current market price per share, a higher yield than in previous years. This indicates that investors anticipate receiving higher dividends in 2010 for each share of the company they purchase. Each share of Barney Bakes creates 317.70 pence of corporate earnings, which is greater than 2009 and 2007 when each share generated 303.51 pence and 258 pence respectively. While in 2008 shareholders anticipated earning 322.12 pence per share invested in the company, these earnings were anticipated to increase to a total of 322.12 pence per share in 2009.

Therefore, the corporation was more profitable per share in 2010 than in 2009. In 2010, it will take the investor 1.23 years to return his initial investment in the shares from the company's earnings, compared to 2009, 2008, and 2008, when the payback period was 1.26, 1.52, and 1.69 years, respectively. The company can improve its profitability by expanding sales, which will raise the earnings attributable to equity owners and the amount of earnings available for dividend payments. The company's liquidity is in jeopardy, so the management should take steps to improve the firm's liquidity; this can be accomplished by enhancing the credit policy, which enables a company to sell more goods on credit, thereby increasing the total debtors and maintaining more cash on hand and in the bank. All of these factors boost the firm's current assets.

Governance and Budgeting in Business

Corporate Governance Overview

The shareholders entrusted the company's management to the Board of Directors. Therefore, the board is the agent and the shareholders are the principals; an agency relationship is established (Brough, 2008). When one party, the agent, is hired or contracted by another party, the principle, and granted authorization to transact business on behalf of the principal, an agency relationship exists (Brough, 2008). In this regard, the board becomes accountable to the shareholders, and directors are required to present yearly performance reports to the shareholders at the AGM (Annual General Meeting) (Brough, 2008). According to the law, the board must propose the company's strategic plans and stand for reelection at the annual meeting of shareholders (Brough, 2008).

The company's purpose is outlined in the Articles of Association, and the Memorandum of Association contains all rules governing internal relationships. The BOD's primary responsibility is to ensure the firm's success by controlling its businesses and achieving the vested interests of shareholders and other stakeholders (Brough, 2008). In addition to addressing financial and operational concerns, the BOD must address CSR (Corporate Social Responsibility), corporate governance, and ethics issues (Brough, 2008).

The BOD's responsibilities include developing the company's mission, vision, and core values, establishing strategic plans and a command structure, assigning authority to management, and being accountable to shareholders and other stakeholders (Kavanagh, Johnson and Fabian, 2010). The shareholders, who are the company's owners, elect and remove the BOD, which consists of two categories of directors: executive directors and non-executive directors (Kavanagh et al, 2010). There is no legal difference between executive and non-executive directors. However, the non-executive function is viewed as a counterbalance to the executive directors' job; this ensures the proper management of the BOD (Kavanagh et al, 2010). The executive directors are required to be knowledgeable about the company, while the non-executive directors are expected to have a global perspective (Kavanagh et al, 2010).

Justifications for having non-executive board members

The firm receives some value from having executive non-directors on the board, as it benefits from the director's experience and they participate in company decision making as well as contributing to strategy creation, goal attainment advice, and resource allocation (Pricewaterhousecoopers.com, 2009). Their objectivity, independence, and business acumen are commensurate with their extensive knowledge and expertise (Pricewaterhousecoopers.com, 2009).

The advantages of employing non-executive directors

Non-executive directors perform their function as they have a broader perspective of things than executive directors, who are unable to provide answers to conflicting issues in the BOD due to their administrative responsibilities (Pricewaterhousecoopers.com, 2009). Non-executive directors are not involved in the company's operations on a full-time basis; consequently, they can provide a broader external perspective on issues facing the board, particularly when creating strategic goals. In addition to providing accounting, marketing, and analyst expertise, they evaluate the board's performance by monitoring and supervising the company's operations (Pricewaterhousecoopers.com, 2009).

Non-executive directors act independently and are therefore able to provide an impartial perspective on potential conflicts of interest between diverse stakeholders. Non-executive directors network on behalf of the company and find sources of resources; they also provide the public with advise regarding annual reports (Pricewaterhousecoopers.com, 2009). In private companies, non-executive directors contribute value to the BOD through their unique talents and expertise (Pricewaterhousecoopers.com, 2009).

Responsibilities and roles of non-executive directors

In accordance with the law, the responsibilities of both Executive and Non-executive directors are identical; according to a legal definition of executive by Baginsky Cohen Chartered accountant (2010), "An 'Executive Director' is a director who has distinct responsibilities within the company as an Executive." Non-executive directors guarantee that the board of directors achieves its primary objectives by bringing diverse perspectives and positively influencing the organization (Lloydstsbbusiness.com, 2011). The directors' responsibilities are owed to the entirety of Barney Bakes Ltd. These responsibilities are derived from Common law and Statutes and are categorized as follows: "First, Fiduciary duty to act honestly and in good faith, second, duty to exercise skill and care, and third, Statutory duty" (Baginskycohen.com, 2010). Infractions of these tasks may result in a finding of unsuitability to manage the company's operations and, as a result, disqualification from the board.

Fiduciary Obligation

As board members, directors are obligated to exert their authority solely for the purposes for which they were hired; they must act in the best interest of the company and not their own (conflict of interest) (Baginskycohen.com, 2010). This implies that directors should not vote in concert with one another or other parties at upcoming BOD sessions (Baginskycohen.com, 2010).

obligation of expertise and care

The Board of Directors should ensure adequate control of the company's assets, store them safely, insure them, invest them in a low-risk portfolio, and maintain accurate records of all transactions (Baginskycohen.com, 2010). No distinction should be made between executive directors and non-executive directors when applying these rules (Baginskycohen.com, 2010). Non-executive directors should not, for instance, focus incessantly on company operations, as they are only needed to become familiar with the firm's operations by considering its financial status and attending BOD meetings when they are reasonably competent to do so (Baginskycohen.com, 2010). The directors, both executive and non-executive, should disclose the areas of expertise in which they excel.