Human Resources Reward Systems Essay Help Free

In a competitive corporate environment, every employer strives to increase the quality of the services they provide while simultaneously reducing their operating expenses. In the meantime, the expansion of the global economy has increased employment market rivalry. While business owners expect employees to perform well within their organizations, employees have higher expectations of their employers (Articlesbase 2009, para. 1). Creating a rewarding system that is effective is one of the key responsibilities of managers. Employers utilize employee reward systems as one technique to motivate their personnel. In order to reap the benefits of rewarding systems, those responsible for designing a reward system within a company must be knowledgeable of the organization's goals and objectives as well as the behaviors that will aid in achieving them. The development of such a system requires expertise in human resource management. Despite the fact that most businesses think this to be true, corporations frequently establish reward systems that do not assist them achieve their goals. A company that seeks to foster collaboration among its employees, for instance, should not promote people who increase their productivity without including other employees. If a company's goal is to improve the quality of its products or services, it is not advisable to create a system that pays employees for increasing the quantity of work completed (Articlesbase 2009, para. 4). This discussion will attempt to determine whether or not all managers are human resource managers. It will assess this by analyzing real-world instances using pertinent human resource management concepts. It will also offer an acceptable approach that may be used by organization managers to ensure that they fulfill their human resource management responsibilities effectively.

Performance analysis ensures that a company produces a compensation plan that pays personnel in accordance with its objectives (Britton, Samantha & Terry 1999, p. 25). Employers must guarantee that their organization's performance has improved prior to paying employees, given that reward systems are costly in terms of time and money. When designing a rewards system for an organization, it is essential to ensure that the awards granted to employees correspond to their productivity. This results in increased staff motivation. Employers must also ensure that they have rewarded both group and individual achievement to encourage individual excellence and teamwork inside the firm. For a compensation system to be effective, a corporation must explain precisely what is expected of each employee (Britton, Samantha & Terry 1999, pp. 27-39). It has been observed that employees perform well in organizations if they are aware of what is expected of them in their various areas of expertise. For the purpose of motivating and recognizing employee performance, businesses implement a variety of reward schemes. These rewarding methods include bonuses, profit sharing, and stock options, among others.

Business organizations have utilized incentives as a reward scheme for decades (Clemmer n.d, para. 1-3). Individual employees who contribute to the attainment of an organization's objectives are rewarded with bonuses. In corporate organizations, the strategy is utilized to ensure that staff increase their productivity, hence improving business profit. The system is often utilized to recognize group accomplishments. Undoubtedly, the majority of corporate organizations are transitioning from paying individual employees to rewarding contributions made by diverse groups inside the corporation. There are a number of advantages to using bonuses as a technique of rewarding individual and collective achievement within a business. Motivated employees result from the distribution of bonuses to those who perform admirably inside an organization. When employees see that their contributions to the organization are valued by management, they perform well. Individuals inside the organization try to enhance their performance as a result of receiving bonuses. This technique assists the company in achieving employee royalties. Consequently, employees become committed to their obligations inside the organization (Glasscock & Kimberly 1996, pp. 75-80). The strategy assists in enhancing the performance of employees who lack organizational commitment. As these employees observe the efforts of their coworkers being rewarded, they too endeavor to work diligently for the firm in the hopes of receiving future rewards.

The majority of businesses have implemented group-rewarding bonus systems to boost employee engagement and encourage teamwork. Employees fail to perform effectively in organizations where teamwork is prioritized over individual effort because they believe their contribution to the group is not being appreciated. In these circumstances, each employee in the group relies on the others to carry out any obligation assigned to the group. This is the primary reason why group awarding bonus schemes can operate badly. In certain contexts, praising collaborative accomplishments enhances employee performance. This is due to the fact that all employees are encouraged to contribute equally to the group (Glasscock & Kimberly 1996, pp. 81-89). The bonus structure enables the corporation to concentrate on performance- and profit-enhancing areas. Businesses pay bonuses to employees who contribute to the organization's profitability. This ensures that personnel in these professions perform diligently, thereby improving the profit of the firm.

A human resource manager should be able to recognize each employee's contribution. Not all managers are capable of human resource management. Recruiting employees is one of the most essential responsibilities of a human resource manager. Organizations suffer significant costs while recruiting new employees. Organizations that do not compensate employees for exceptional performance lose the majority of their staff. Employees quit the organization to work for companies that recognize their contributions. Such firms continue to hire new personnel to fill open positions (Henemen & Courtney 1995, p. 3). The business must give competitive salaries in order to attract talented employees. By recognizing employee achievement with a bonus, businesses are able to retain their competent people and attract new, experienced employees. Therefore, the organization is spared the expense of hiring new staff each time an experienced employee leaves.

On the other hand, as a short-term motivator, the system is viewed as ineffective for improving employee performance. Rewarding employees for their accomplishments in prior years encourages every employee to strive diligently to ensure his or her achievement is recognized the following year. The objective of enhancing employee performance should not be limited to facilitating the achievement of short-term corporate objectives. Instead, the compensation system should ensure that it has contributed to the organization's long-term success (Henemen & Courtney 1995, pp. 4-7). A manager may be capable of managing the system's resources, but inability to connect with the human resources may result in failure. A human resource manager should be sympathetic to employees, unlike other managers. To determine employees' needs, he or she should have the ability to read between the lines. A reward system designed from the standpoint of a human resource manager must fulfill both psychological and higher demands. This method motivates the majority of employees to enhance the quality of their services inside the business in order to be rewarded, as opposed to improving their performance in order to achieve the organization's long-term objectives. The bonus system for rewarding employees focuses on rewarding employees based on their essential individual and collective functions. As a result, the majority of employees saw it as a right. They perform poorly within the organization if they are not rewarded immediately. Instead than receiving the award as a recognition from management for their performance, employees receive it as part of their regular compensation. It is alleged that the system discourages creativity inside an organization. As each individual or group in the organization strives to increase performance, new performance approaches are implemented rapidly (Klubnik 1995, pp. 28-32).

The second method of employee compensation is profit sharing. This is when a company sets aside a portion of its profit to share with its employees. After a company organization has completed its financial audit at the end of its fiscal year, this occurs. Each employee's share of the profit is equivalent to a particular percentage of his or her wage. The primary objective of implementing this technique to compensate employees is to recognize their contribution to increasing firm profit. The method provides numerous advantages to corporate organizations. Due to the fact that employees receive a piece of the profit based on the profit they have accumulated in the business, they seek to grow profit (Klubnik 1995, pp. 33-41). This enables the enhancement of business growth. Profitability is essential to corporate growth. As employees try to raise business profit in order to receive a larger share of the profit, the firm benefits as a portion of the profit is utilized to fund its growth.

For a person to be eligible for the profit, he or she must have worked for the company for a minimum amount of time. This strategy facilitates staff retention for firms with substantial profits. This is because every employee desires to work for companies that recognize and reward their achievements. As long as they are assured that they will be able to share in future corporate profits, employees will be willing to remain with the company. The strategy gives employees a sense of belonging to the organization. By sharing in the business's profits, employees experience co-ownership of the enterprise (Metzger 1978, pp. 144-163). This motivates people to remain with the company. Additionally, their dedication to business activity increases. The strategy promotes a culture of teamwork throughout the organization. Employees collaborate to increase the company's profit margin.

Despite the method's benefits, it is also associated with a number of drawbacks. Due to the fact that each employee receives a portion of the profit equal to a predetermined percentage of his or her compensation, the approach does not acknowledge individual contributions to the firm. Some employees may not have contributed to the achievement of the profit, but as members of the company, they receive a larger portion of the profit than those who did contribute. This leads to disheartened personnel (Parker & Liz 2001, p. 64). When employees earn a smaller share of the profit despite their contribution to its attainment, they lose commitment to the organization. Employees who do not contribute to the enhancement of the company's profit are never driven to do so because they are always guaranteed a portion of the profit. As a result, the strategy inhibits people from being inventive and creative in the workplace because their contributions are not acknowledged.

From a different standpoint, this strategy is seen as impeding business progress. The majority of firms rely on their profits for expansion. Allocating a portion of the profit to employees leaves the company with fewer resources to support its expansion. Profit in the business results from a variety of activities that occur within the business. This strategy does not assist employees in establishing a connection between their actions, decisions, and participation and organizational objectives. As a result, it does not provide an opportunity for businesses to identify organizational adjustments necessary to achieve their objectives (Parker & Liz 2001, pp. 66-75). Similar to the bonus system of employee rewards, this strategy may be perceived as an entitlement by employees if it is not effectively articulated. Employees may demand compensation whenever the company generates a profit, regardless of the amount of profit generated. A failure to compensate employees may appear to be a denial of their rights, causing them to withdraw from active participation in the business. Some may even leave the company, causing the company to incur further recruitment costs.

Companies also use stock options as a method of employee compensation. Initially, the strategy was utilized to compensate staff at the highest levels of management within a firm. However, the concept is being gradually adopted as a technique of rewarding junior management teams and other staff in firms (Sarvadi 2009, para. 3-6). A stock option system grants employees the right to purchase a predetermined number of an organization's shares at a discount for a specified time period. The board of directors of the organization authorizes the system. The number of shares issued to employees relies on the outstanding shares of the firm. For an employee to be eligible for the system, he or she must have worked for a specified amount of time at the organization. In the event that an employee wishes to quit the company before being fully vested, he or she forfeits the right to stock options. Once a person has purchased shares, he may keep them or sell them on the open market at a different price (Spitzer 1996, pp. 12-33).

This technique reduces the company's tax liability, which is among its many benefits. Due to the fact that organizations are not taxed on their expenses, this is one of the organization's expenses and is therefore not taxed. As the method is regarded as part of the remuneration, it is not recorded as a business expense in the system's records. The company's perceived value is high, allowing it to attract and hire experienced personnel. The strategy enables businesses to prevent situations in which earnings decline. This is accomplished by lowering the number of outstanding shares in a company (Torrington, Hall &Taylor 2008, pp. 121-153).

This system of employee compensation endangers both the employer and the employee. In the event that employees purchase shares at a price over the market price, they do not gain from the shares because they are unable to sell them on the open market. The majority of an organization's funding comes from the sale of its shares on the open market. By rewarding employees through the system, the corporation is left with fewer publicly tradeable shares.

It is evident from the preceding discussion that not all managers are human resource managers. Human resource management expertise is not innate for all managers. Some managers' inability to respond effectively to employee requirements has resulted in a catastrophic failure in human resource management. To guarantee that every manager is a human resource manager, they should ensure that their organization has incentive programs. A incentive system gives criteria to meet the needs of employees. All of these systems must satisfy employees to be effective. Therefore, they must be designed in a way that rewards employees considerably based on their value to the firm. This is due to the fact that they are essential instruments for staff recruitment and retention. In the majority of cases, employees compare themselves to coworkers at the same level but from different organizations. If they discover that other employees are better compensated, they may decide to leave the firm (Weber 1991, pp. 32-45). Organizations are required to convey the rewards system to their employees. This will prevent people from viewing it as a right, hence eliminating employee protests anytime they are not compensated. Human resources are among an organization's most valuable resources. Therefore, firms should invest in human resource management improvement. Human resource management seminars and workshops are of considerable assistance in transforming all managers into human resource managers.

Reference

2009, according to Articlesbase Motivation: reward system and compensation's role Web.

Britton, P.B., J.C. Samantha, and W. Terry, "Rewards of Work," 1999. 25-39 in Ivey Business Journal.

Clemmer, J., "How to Make Effort Rewarding," no date. 2010. Web.

1996. Glasscock, S., and Kimberly, G. Establishing an Effective Recognition System in the Workplace. 75-89 in National Productivity Review.

Henemen, R. L. & Courtney, V.H., 1995. Achieving a Balance Between Group and Individual Rewards: Recognizing Individual Contributions to the Team 3-7 pages of Compensation and Benefits Review.

Rewarding and Recognizing Employees, by J. P. Klubnik, Irwin, 1995, pp. 28-41.

How to Motivate through Profit Sharing was published by B.L. Metzger in 1978. Profit Sharing Research Foundation, Evanston, Illinois.

Parker, O. & Liz, W., 2001. Compensation and Employee Dedication: The Missing Link 64-75 in Ivey Business Journal.

Sarvadi, P. (2009). The Most Effective Methods of Employee Reward. Web.

Power Rewards: Rewards That Really Motivate, by D.R. Spitzer, 1996. (Employee Incentives). Management Review, pp. 12-33.

Torrington, P., L. Hall, and S. Taylor (2008) published Human Resource Management. Pearson Education Limited.

Weber, J. (1991). Offering Employees Unrefusable Stock Options. Business Week, pp. 32-45.

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ChevRon Organization Analysis Essay Help Free

Table of Contents
Introduction Component Categorization Strategic Harmonization Problems with Organizational Output Conclusion: Materials for Better Comprehending References

Introduction

The author of this paper has familiarity with the regional Chevron office. The corporation is a significant international energy producer that focuses mostly on oil and gas production. Despite the fact that its central office controls the operations of its overseas branches, it permits them to keep a large degree of autonomy in order to maintain adaptability. As a predominantly isolated location where organizational processes occur, the local office is thus suited for examination. Using the Nadler-Tushman congruence model, the purpose of this research is to assess the local Chevron branch. To achieve this, it will categorize the important components, evaluate the business's plan, identify potential problems, and highlight parts that the author does not fully comprehend, as well as the resources necessary to repair this deficiency.

Component Categorization

The Nadler-Tuchman model is an augmentation of the systems theory methodology that incorporates extra practical factors. According to Anderson (2016), it consists of four essential and interdependent components: "task, individual, formal organizational arrangements, and informal organization" (p. 79). The primary objective is to maintain extraction rates sufficient to meet demand while avoiding overproduction. To achieve this, the corporation must assess the market demand for oil and gas as well as its current production capacity, growing or decreasing it as necessary. Chevron relies heavily on the expertise of its market analysts, numerous specialized engineers, and drilling personnel. Up to this point, the corporation has been able to produce enough oil to suit its needs without overloading its storage facilities.

Formally, the company's office employs a hierarchical structure in which the top management gets objectives from the company's headquarters and meets them by establishing plans and delegating their implementation to leaders at lower levels. Every team will have a seniority-based leader, typically a project manager or another variety of leading positions. Informally, however, these leaders realize their strengths and weaknesses and defer to the one whose expertise is most suited to the task. The upper management is aware of this trend and implicitly endorses it, appreciating the freedom it provides. As a result, the internal climate is goal-oriented but, in general, welcoming to individuals who meet or exceed objectives. As with the oil and gas business in general, the external environment is volatile due to price volatility and environmental concerns.

Strategic Harmonization

Chevron has modified its strategy to the changes in its environmental inputs, which include rising pressure to improve sustainability and dwindling resource availability. However, its formal structure has not changed considerably over time, as the company's efforts to alter its current hierarchical structure are proceeding slowly. In response to the problems posed by the changing environment, the informal organization has transitioned to the structure outlined above. The company's primary responsibilities have been modified to account for the slower rate of growth and demand, as well as the varying priorities of external stakeholders. As a result, critical staff positions, such as environmental specialist, have gained prominence. The previous important personnel are still essential to the company's operation, although their workloads have decreased.

The interactions between the various components of the transformation process have also evolved to match the modifications to the organizational strategy. Changes in essential responsibilities necessitated the acquisition of critical personnel with new skills, such as environmental specialists. Due to the significance of their contributions, these new employees assumed a more prominent position within teams, displacing some traditional hierarchy-based leaders. As a result, a portion of the company's informal structure was modified to accommodate new requirements. Chevron began seeking to modify its formal structure to make it more user-friendly after observing the effectiveness of this new strategy, although the process is moving slowly. Regardless, the exchanges have been successful in adapting the organization's outputs to its new requirements. In the future, the ongoing adaption will likely result in more improvements to the alignment of the organization's strategy and resources.

Problems with Organizational Output

Overall, Chevron's individual output appears adequate, with individuals who are skilled at their professions and capable of regularly delivering the desired outcomes. The positions within the company are well-defined and need certain skill sets, which are possessed by the current incumbents. As a result, it is reasonable to expect a worker to finish a particular task within a reasonable timeframe and meaningfully contribute to team performance. However, at the group level, the mismatch between informal and formal structures causes a range of problems for the organization's overall operation. Teams may disrupt established seniority rules, but communication must adhere to predetermined channels, which hinders their performance. However, as part of the broader reorganization, steps are currently being taken to remedy this issue.

At the organizational level, Chevron's outputs are plagued by substantial issues, particularly with respect to their long-term viability. Recent negative oil prices are indicative of the market volatility with which Chevron struggles to deal. The external environment is changing rapidly, and the organization's agility is insufficient to properly address the difficulties. Large companies may have the resources necessary to overcome short-term challenges, but they will likely suffer during a protracted crisis. As such, Chevron should accelerate the creation of its new formal structure to increase the model's adaptability. The organization should enhance its ability to see opportunities and dangers and to respond quickly and effectively to them. To do this, a thorough grasp of the company's operating environment is necessary.

Resources for Better Comprehending

Currently, the author has difficulty comprehending Chevron's environment due to its tremendous complexity and volatility. The oil and gas business is intricately intertwined with the global economy, considerably affecting it and vice versa. Thus, seemingly unrelated factors can have quick and substantial effects on their performance, which can be difficult to foresee or resolve. Meanwhile, bigger macro-level concerns exist and alter Chevron's operating environment over time. They can be both slow and relatively swift, such as the gradual shift in public awareness of environmental issues, or the political activities of major oil-producing nations. To attain a high degree of efficiency and success, the company's professionals must traverse this complex environment. To this goal, the author will seek for resources that can assist the reader in comprehending the scenario.

To address the difficulties of complex ecosystems, such as those surrounding many multinational firms, academics from all over the world have worked to design suitable models. Hughes (2018) presents the environment evaluation model proposed by Dawson, which involves an analysis of the past, present, and future internal and external settings. Such an analysis would be more involved than PESTLE, but it would allow for greater precision, which is crucial in delicate situations such as those outlined above. However, it would require access to a substantial amount of information that the author does not currently have. If they were to aid the company with a study of its surroundings, they would require historical evaluations and future estimates of the company's internal conditions, as well as market studies and forecasts. Using contemporary approaches, they would be able to conduct a high-quality evaluation with these resources.

Conclusion

As they have partially adapted to the new environment, Chevron's resources are generally sufficient for achieving its current objectives. However, the author discovered an incongruence between the formal and informal structures of the local Chevron branch. The latter have been modified to integrate flexible team leadership structures and to reflect the growing significance of environmental personnel. However, the formal structure struggles to adapt due to its lack of suppleness, although tacitly acknowledging some of the changes. Consequently, while the corporation has a few minor concerns with its group output, they are not major. Its organizational output is more troublesome due to the author's inability to comprehend the complexity of its external environment. Understanding the circumstances around oil and gas businesses, and Chevron in particular, may be aided by the application of models such as Dawson's.

References

Anderson, D. L. (2016). Organization development is the process of guiding an organization's transformation (4th ed.). Thousand Oaks, California: SAGE Publishing. M. Hughes (2018). Managing and leading organizational change. Routledge, New York, NY

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QCi Corporation’s Customer Relationship Management Essay Help Free

Introduction

Customer relationship management (CRM) determines the entire effectiveness and profitability of a marketing or service firm. CRM influences the interchange of information with clients, which can also vary significantly based on whether the organization provides products or services. Promotion of services might follow traditional paths. CRM is commonplace for all types of services, and point-of-sale publicity (hairdressers suggesting alternative styling, auto mechanics who offer discounted rates to customers who have come to them for preventive maintenance, enticingly displayed desserts at your favorite restaurant, etc.) often follows a parallel track to retailers' efforts, which most of us are familiar with, to encourage impulse buying. Since the client is a part of the system, service organizations have an advantage in the fourth aspect of value communication, direct two-way information transfer between customer and firm. If a company is able to personalize its services, the likelihood that it will be able to meet consumer requirements precisely increases. In many service settings, an interactive relationship with the consumer develops while the service is being delivered.

Discussion section

CRM Defined

The user might describe his or her wants, such as air travel route with a stopover, variations on a meal order, or advise from a stocks analyst, and frequently obtain service in real time. Bergeron (2002) defines customer relationship management as "the dynamic process of managing a customer-company relationship so that customers elect to continue mutually profitable commercial exchanges and are discouraged from engaging in exchanges that are unprofitable to the company." Again, feedback might be instant, resulting in a high level of communicated value, if the system incorporates responsiveness, adaptability, and learning ability. Companies that have built their business on standardized services must provide clients with alternatives to individualized care. Customers are often ready to accept with lower pricing, like in the case of routine legal services, a combination of prices and quality/cleanliness supplied by fast-food chains like McDonald's, and the speed of service provided by quick oil change specialists. If a more efficient and practical technology for connecting metals were to be developed, arc welding would likely become obsolete.

CRM's purpose is to develop meaningful relationships with customers and to determine their individual requirements and preferences. Customer needs must be identified and met. In fact, this has been the entire refrain of our value song. But organizations that strive to deliver value in other nations without attempting to build on value skills earned elsewhere are, in fact, similar to conglomerates whose products have no conscious value relationship. Similarly to how conglomerates devalue a company's objective in the eyes of its customers, multi-national corporations fail to capitalize on potentially major sources of value. Sharing, and consequently the multiplication of value, is disregarded by both sorts of organizations. Recent and congruent with the concept of value exchange and maximization is the advent of the global enterprise. Whether the emphasis is on conceptualization, construction, or communication, endowing all global activities with the same qualities could prove important in replicating domestic success.

CRM model components and their influence on the value chain

Marketing Emphasis

At QCi Corporation, metrics of CRM model outcomes can be arranged in a chainlike fashion, beginning at the person level and progressing to the organizational level. At each level of the chain, the success of CRM is evaluated from a unique angle. At the beginning of the chain, individual views or attitudes regarding communication technology are investigated using measurements based on these factors. Primarily qualitative measures are utilized for this purpose, but because they are at the beginning of the chain, it is difficult to discern between performance-determining and performance-indicating components. User happiness is a typical measurement. As one moves up the chain, the usage of communication technologies becomes a crucial indicator of success. This is a personal behavioral measurement. Use should eventually result in individual productivity benefits, which, when compounded, turn into behavioral and then organizational effects on the organization. Decision accuracy is a metric that indicates the organizational impact of communication technology usage. Further along the chain, investment areas in communication technology serve as a basis for evaluations. Examples of metrics include the organization's ability to build intangible resources through the use of communication technologies. The benefit of adopting communication technology investment areas is the ability to follow each metric independently as multiple organizational areas are examined. By assessing the degree to which these elements are present inside an organization, managers can make more explicit and nuanced judgments regarding the use of communication technologies. For QCi Corporation, employing cognitive measurements such as user satisfaction as assessment criteria enables modifications to be made to the organization's usage pattern, while economic indicators like as return on assets indicate the influence of CRM on the bottom line. While user satisfaction is a metric based on the perspective of the user, return on assets is primarily a metric upon which top management relies, as they are ultimately held accountable by external stakeholders. From the standpoint of the user, CRM should be tailored to the nature of the work performed. For this reason, user participation in the implementation process is an essential success criterion. Understanding the usage pattern is essential from the standpoint of the designer, since it enables them to make more informed implementation decisions. From the standpoint of top management, CRM should be used to yield enhanced bottom-line results. This highlights the significance of user representation in explaining user happiness and suggests that managing the interaction between the end-user and CRM system designers is crucial to the successful adoption of communication technologies.

Create Shareholder Value

At QCi Corporation, the functions of CRM usage in an organizational environment are evaluated based on several organizational tasks. Individuals' usage of communication technology in the workplace, from this perspective, serves organizationally relevant functions such as decision-making, job coordination, etc. According to the findings, there are three primary aspects that influence CRM system utilization: decision support, job integration, and customer service. Decision support is the degree to which CRM is utilized to uncover problems and enhance decision-making. Work integration refers to the extent to which communication technology facilitates horizontal and vertical coordination of work, whereas customer service refers to the use of communication technology to give assistance to internal and external stakeholders. QCi's multidimensional construct provides the benefit of analyzing communication technology use along organizationally relevant dimensions, regardless of whether use is mandated or elective. Therefore, it is more likely to serve as a moderating component for the success of communication technologies. Use becomes a tool for determining whether communication technology is being appropriated in new ways, which may have an effect on the organization in the long run. Despite a considerable positive correlation between utilization and user satisfaction, they are distinct and complementary. Certain communication technologies may be the sole option available to users; as a result, these technologies are utilized more frequently than they would be if alternatives were available. User happiness may be a good proxy for success when the usage of communication technology is necessary. In the case of voluntary use, however, actual usage is a more suitable metric, as it indicates the extent to which CRM technology actually satisfies an organization's needs. Measures of productivity center on the capacity of individuals to raise their work efficiency13. Managers generally utilized communication technologies to assist and strengthen their informational roles. This function was evaluated based on factors such as acquiring market data, monitoring customer connections, and notifying other managers. Utilizing communication technologies, upper management invested more effort in reorienting middle managers. The study showed support for the contention that communication technology utilization is contingent on the organizational context in which it is deployed. Therefore, it is impossible to make broad forecasts about increases in productivity across organizational environments. Individual productivity indicators have the disadvantage that increases in individual productivity are not always connected with organizational progress. The elements that describe the perceived impact of CRM technology are displayed in Table 5.6.

Information systems

At QCi Corporation, meaningful messages between persons at the micro level are unrelated to the usage of electronic mail and CRM efficacy at the macro level, as well as the suitability of the resulting CRM network. Social norms have been formed within the organization that prevent individuals from fully using the possibilities of communication technology, despite the fact that they understand how to use it. Therefore, not only the ability to utilize the technology, but also the desire to do so, impacts behavior. Since social environment impacts willingness, task requirements are merely one necessity for media selection; social judgments are an equally essential imperative.

Customers of QCi may wish to have their cake and eat it too, which is quite acceptable. One of the keys to international functioning is designing the product such that modifications can be introduced to fit local needs. Customer value is predicated on the fundamental concept of identifying and meeting customer demands while always attempting to improve CRM. However, there are numerous routes to these destinations. Regarding the “bottom line” of need fulfillment, therefore, products and services are obviously comparable. However, another significant feature further distinguishes them. Customers typically do not utilize items in the presence of their suppliers, in contrast to services where the client or user is an intrinsic part of the operations. The blending of value creation and communication that occurs in organizations where the consumer enters the system is something that manufacturing companies should also strive for. Who better communicates value to customers and receives feedback than those who installed the value in the first place, given that operations personnel is familiar with the quality of product value incorporated into the product/service? While we do not advocate for the abolition of Marketing Departments everywhere, the establishment of direct links between producers and buyers of a product facilitates not only quick, accurate feedback and responsiveness to market needs, but also provides operations personnel with a higher purpose (value enhancement) stimulated by direct contact with the customer who benefits from this value. For instance, if a firm’s promotional efforts result in an image that the product is unable to match—such as an electric shaver that is neither smooth nor comfortable in its performance or a portable cassette player with tinny reproduction—the firm would be wise to scale back on its communication strategy and/or enhance conceptualized/constructed value in order to avoid abnormally high expectations and a collective customer turn-off. The best way to create flexibility as a means of delivering value is through cooperation between the notion and construction of value. The design influences the materials and technique employed (and vice versa), whilst the value message communicated to clients must be suited to the value constructed. Therefore, efforts to reduce costs should not concentrate solely on any one aspect of the value process. Attempts to reduce production costs, for instance, without taking into account the need to adjust product design, outsourced material, quality standards, and promotional effort could result in a poorly constructed product with an excellent reputation!

Conclusion

CRM offers tremendous opportunity for marketers to enhance their value chain and customer relationships. The costs of concern here include not only direct materials and labor, and indirect/allocated expenses, but also hidden costs such as rework, warranty claims, redesign (of the product and/or process), damaged reputation, and lost orders, among others. If the product's value originates entirely from its low price, it may be resistant to these hidden costs if clients have few expectations of the product other than its flexibility. Through appropriate communication, customer expectations might be appropriately lowered: for instance, the preceding costs may not apply in the case of disposables. Similar value component-capability charts might be created for each of the major competitors in order to assess the firm's value shortcomings and determine the nature of the necessary remedial actions. Despite the possibility of conflicts, such as between the needs of shareholders and those of consumers, shareholders’ needs are best met in the long term by satisfying customers’ demands.

Reference

Essentials of CRM, Wiley, 2002. Bergeron, B.

The Ultimate CRM Handbook: Strategies and Concepts for Building Enduring Customer Loyalty and Profitability. Author: Freeland, J. McGraw-Hill1, 2002.

Up Close & Personal? : Customer Relationship Marketing at Work, by P. R. Gamble et al. 2006; Kogan Page; third edition

McGraw-Hill, 2004l. Greenberg, P. CRM at the Speed of Light, third edition.

Cambridge Business Review Managing the Value Chain, Harvard Business Review, 1999.

Practical Guide to CRM. Reynolds, J. CMP Books, 2002.

2010 Website home page for QCi Corporation

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Level 5 Leadership Style For Executive Position Essay Help Free

Introduction

The leadership of an organization is a crucial management tool for any business, as it has a significant impact on its success. If an organization's leadership is current, it will undoubtedly be successful in its goals. World-famous leaders such as Martin Luther, Winston Churchill, Mahatma Gandhi, and Steve Jobs, to name a few, have been tremendous inspirational leaders whose institutions have flourished.

It is vital to recognize that there are several leadership styles, as indicated by the preceding list of leaders who led people in diverse ways but ultimately achieved their aims. It is good that psychologists, with the aid of science, have devised straightforward methods for classifying and comprehending various leadership styles (Robbins and Judge, 2007). In the following case study, three leadership styles will be addressed. These leaders are transformational, transactional, and level-5.

Varieties of Leaders

Executive A

Given Executive A's description, there is no doubt that he is a level 5 leader. In the hierarchy of popular leadership styles, level 5 leadership is positioned at the pinnacle. It is defined by various leadership qualities, with humility being the most prominent. Level 5 leaders are either inherently humble or are required to be so. Level 5 executives demonstrate their humility in a variety of ways, including attributing the success of the organization to both internal and external sources. The reason for their humility is that they typically hold themselves accountable for organizational limits that develop during their tenure (Collins, 2001, p.1).

The case study revealed that Executive A is generally fast to acknowledge mistakes and poor performance. This demonstrates the leader's humility and justifies his status as a level 5 leader. Notable is also his reluctance to accept credit for the company’s success, preferring attributing it to other executives, despite the fact that it is evident from the growth of the stock that he is its originator. This indicates that Executive A is not proud of his achievement, but rather modest about it.

Level 5 leaders are likewise known to act quietly, calmly, and resolutely, with inspired standards rather than their own charm serving as their primary source of motivation (Collins, 2001, p.1). In the case study, Executive A was described as ferociously ambitious, highly motivated, and completely committed to the success of the organization. This aligns with the traits of level 5 leaders, placing him in that leadership style group.

Leader B

Leader B is a transactional leader due to his characteristics. According to Bensimon, transactional leadership views the interaction between leaders and followers as a two-way exchange with mutual impact (Cherry, 2007, p.3). Transactional leaders are known to amass influence through the combination of their leadership positions and personalities. However, such leaders' influence is typically restrained by their subordinates' ability to escape.

According to the case study, leader B rewards subordinates for their accomplishment as a means of establishing their motivational relationship, which is a transformational leader characteristic. In addition, leader B is famous for delegating responsibilities to his subordinates and punishing them when they fail. All of the above are characteristics of a transactional leader.

Leader C

Leader C is a transformative leader based on the case study's description of him. "According to Bernard Bass, transformational leadership takes place when leaders broaden and elevate the interests of their employees, when they generate awareness and acceptance of the group's purposes and mission, and when they inspire their employees to look beyond their own self-interest for the good of the group" (Cherry, 2007, p.2).

In transformational leadership, the leader begins the link between his followers and the organization's morale and motivational levels. Martin Luther King is an example of transformative leadership because he evoked an exceptional picture. Leader C in the case study is portrayed as a leader who takes pride in his leadership job by setting high expectations for his followers and is, thus, a transactional leader. In addition, leader C rewards his people for their contributions, which is a characteristic of a transformational leader.

Effects of Leadership Styles B and C on Appointment to the Position of CEO

Leader B is shown as a transactional leader whose primary characteristics include listening to subordinates' suggestions, demonstrating concern for others, and providing feedback, among others. It is apparent that this type of leader fosters risk-taking through his leadership style. Therefore, this leadership style is not recommended for candidates for the job of chief executive officer.

This is due to the significant responsibilities and duties assigned to a CEO. In addition, the leader’s B attribute of assigning complete responsibility for a work to a subordinate is not a positive trait, as the leader is there to guide his subordinates and ensure that they follow his instructions. As the team's leader, the leader should bear full responsibility in the event of failure. It is evident that transactional leadership is a form of management and not a form of leadership. This is due to the fact that it has significant limitations for tasks requiring knowledge or inventiveness. This is due to the fact that subordinates are typically restricted to the scope established by their superior.

On the contrary, leader C's leadership style is even worse than transactional leadership. This is due to the fact that this type of leadership has the disadvantage of producing significant staff turnover due to the fact that employees have less control over their job happiness. It has been observed that Leader C instills lofty objectives in his personnel and takes delight in instituting a logical approach to problem-solving inside the organization. As a result, when leader C is selected CEO of the organization, his leadership style may not enable him to reach the objectives set by Executive A.

Conclusion

The examination of the case study supports the conclusion that the level 5 leadership style is the greatest and most suitable style for a company's CEO. This is demonstrated by Executive A's leadership, which resulted in an increase in stock turnover and profit, as well as other business achievements during his tenure. Therefore, if executives B and C aspire to achieve success as CEO of the company, they should seek to adopt the same level 5 leadership style as Executive A.

Bibliography

Transformational versus Transactional Leadership by B. Cherry. Web.

J. Collins (2001). Leadership at the Fifth Level: The Triumph of Humility and Fierce Resolve Web.

Robbins, S. P., and T. A. Judge (2007). Organizational conduct (12th ed.). Pearson Prentice Hall is located at UpperSaddle River, New Jersey.

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Holland’s Typology Theory Overview Essay Help Free

Job Analysis, Section 1

Job analysis is essential to the HR department's performance since it determines its objectives and actions. According to Robbins et al. (2016), it serves to develop the job description, which then guides "recruitment, training, setting performance standards, evaluating performance, and compensation" (p. 113). Without a job analysis, it will be unclear who is the ideal candidate for the role or whether the current staff are functioning satisfactorily. As a result, the organization will struggle to identify possibilities for improvement, whether through performance corrections or the incentive of high-performing employees.

From the standpoint of an individual, employment analysis helps them obtain merit-based raises and promotions while avoiding overwork. With clearly defined target competencies and performance goals, the employee may concentrate on achieving them without being sidetracked by extraneous activities, which will be assigned to a position that is suited to them. As a result, workers will perform better, which will boost the organization's overall performance. This expansion, coupled with a greater understanding of the company's human resources requirements and objectives, facilitates the planning and execution of the corporate strategy, to the advantage of all business members.

Part 2

The need for the assessment is a result of technological advancements at the factory that did not result in matching adjustments to employee responsibilities. As a result, the owner of the company is concerned that there may be a competency mismatch between certain roles and their occupants. This expectation is likely to result in subpar performance from those who are not suited to their current positions. However, there is no objective standard against which their outcomes can be compared, and subjective reviews are related with prejudice and politicized concerns, making it difficult to utilize either of these tools.

This research suggests using behaviorally anchored rating scales (BARS) to address the problem. The tool, according to Prien et al. (2009), compiles a list of behaviors that support success or failure with the assistance of a number of highly experienced individuals. These practices are then grouped and arranged into dimensions that are used to define the role and assess the performance of each employee. This instrument was chosen because it assists in defining the essential abilities of each role from the staff's perspective, resulting in a superior grasp of each position's actual responsibilities. As a result, the resulting position descriptions can be more readily accepted by employees and can help dispel management's preconceptions regarding the evolution of distinct functions.

Part 3

It is necessary to consider both internal and external variables while conducting a job analysis and writing role descriptions. Mader-Clark (2013) suggests taking into account the present economy, employment market, and competitiveness while writing job descriptions to meet current needs. The first two will assist in determining which candidates are available for employment and under what conditions, while the third will provide information on which skills are in demand by organizations that are comparable. Thus, it will become clearer which capabilities the organization lacks and whether they should be acquired externally or developed inside.

Specific descriptors gathered from external sources include factors such as a position's worth in terms of salary. To attract the employees the business requires, it must provide appropriate positions at or above market rates. For the sake of competition, the corporation might assess the talents deemed essential by analyzing its job descriptions in job advertisements. It can then determine whether it already has personnel with these skills and whether they are crucial to its operations. Using this information, the firm may determine its employment needs and create competitive job postings to fill the present vacancies.

Part 4

The most pressing issue at work today is the introduction of new technology, which people may not be exploiting to their full potential. Consequently, the following data categories outlined by Morgeson et al. (2019) should be prioritized: duties, professional standards, machines, tools, and equipment, workers and job activities, and future modifications. These sections detail the changes that have occurred since the last job analysis conducted by the organization. Therefore, by evaluating them, the HR staff can comprehend the changing responsibilities and requirements of various positions.

After collecting and analyzing this data, the organization can modify its job design and performance evaluation procedures. The former can adapt the new obligations of the post, phasing out responsibilities that are no longer relevant and potentially transferring some tasks to other positions to alleviate the strain on the workforce. The performance review may also emphasize factors that are directly related to enhanced work outcomes. Consequently, it will reward and punish behaviors more precisely, which will benefit the firm in the long run.

Job Design

Part 1

A job description consists of multiple components, each of which must be carefully addressed. Picardi (2019) identifies these as the job's title, overview, department or function, reporting structure, FLSA status, pay grade, working conditions, educational, experience, and KSAO requirements, and, ultimately, the job's fundamental duties and responsibilities. The title must be carefully reviewed to ensure uniformity and FLSA compliance. The summary assists the candidate in comprehending the duties of the position. The department or functional area's name facilitates this comprehension while preserving the internal coherence of information systems. The reporting structure represents the organization's supervisory structure, which is particularly significant for large and complicated firms but also pertinent for smaller businesses. The classification of the employment under the Fair Labor Standards Act (FLSA) determines whether the position is salaried or hourly and if it qualifies for overtime pay.

The pay grade assists the HR department in estimating the value of each role and the approximate salary that employee should get. The working conditions outline the worker's schedule, travel requirements, availability requirements, and other pertinent characteristics. The educational criteria assist establish eligibility for the post based on formal diplomas and training certificates, and the experience requirements do the same for the eponymous characteristic. Knowledge, skills, abilities, and other requirements (KSAO) include less clearly defined attributes that are nonetheless vital to a person's professional success, such as Doyle's soft skills (2020). Lastly, the job analysis produces the main activities and responsibilities, which are crucial for understanding and evaluating performance. All of these components provide the essential structure of the job description that gives sufficient information to meet the needs of the business.

Part 2

Occupational Safety and Health Administration (OSHA) requirements, the Americans with Disabilities Act (ADA), Equal Employment Opportunity (EEO) statute, and Bona fide Occupational Qualification (BFOQ) regulations are among the employee-related laws that must be followed. To comply with OSHA, each position's job description must include the category to which it belongs depending on the degree of exposure to hazards. Workers who conduct hazardous occupations must obtain proper training and be provided with the necessary protective equipment. For the ADA, it is crucial to distinguish between essential and non-essential duties for each position (Mitchell & Gamlem, 2017). Unlike essential tasks, non-essential duties cannot be used to exclude a candidate from a post. Codifying the distinction in the job description prevents discrimination, whether deliberate or not.

EEO law and BFOQ regulations should be discussed concurrently, as they cover the same spectrum of potential difficulties. The goal of these laws is to prevent discrimination based on ethnicity, race, religion, gender, and other immutable qualities. According to EEO standards, these qualities cannot be legally included in a job description or utilized to screen applicants for the same post. However, BFOQ acts as an exception by establishing parameters under which religion, sexual orientation, and other generally irrelevant attributes may be included as job qualifications. The first pertains to certain positions within religious groups, such as Catholic theology lecturers, and the second to jobs needing a specified gender (such as a restroom attendant). However, BFOQs as acceptable EEO defenses are infrequent and only relevant to a limited number of employment. The clause is highly unlikely to apply to the business profiled in this report, given it meets few to none of the conditions.

Part 3

The selected job description format is appropriate for the organization because it has all of the relevant elements. It ensures legal compliance and prevents the organization from being sued for damages. In addition, it allows the HR department and managers to tailor their expectations for each employee according to their position. Leaders may avoid misunderstandings and treat each person equitably if they have a thorough awareness of each employee's duties and the company's obligations to respect and meet their requirements. After the knowledge required for compensation, promotions, hiring, and other HR tasks is collected and arranged in the job description, these activities will be significantly expedited. In general, the job description format described in this report will assist the organization in enhancing its operations, assuming the information is updated to reflect the current state of affairs.

The job description will also assist employees in better comprehending their jobs and responsibilities. Vandenabeele (2016) emphasizes the significance of this understanding and knowledge of the employee's impact on the organization to the HR department and its goal. With consistent and clear job descriptions, employees' responsibilities can be explained with a minimum of misconceptions and discrepancies. They are able to comprehend the selection criteria for the position, the desired performance, and the constraints of their role. They can infer their impact on the organization based on their personal knowledge of the task they perform and the prospective outcomes of successes or failures. Employees will likely be more motivated and perform better if they have a clear grasp of their position within the organization and the steps they must take to attain their goals.

Performance Evaluation

Part 1

The purpose of a performance evaluation is to distinguish employees who successfully complete their tasks from those who struggle. The former are rewarded, while the latter are made aware of their issues and assisted in resolving them. If the organization must evaluate raises, promotions, or, conversely, actions such as layoffs, it will prioritize high-performing employees for the positive outcomes and those who do poorly for the negative outcomes. According to Falcone and Tan (2013), the objective of this method is to encourage merit within the organization, which will increase performance. Having specific examples of what the firm values and disapproves of helps employees adjust to the company's needs. They can then increase their performance, so improving the company and securing positive evaluations and the related perks, thereby integrating their personal and business interests.

Essential functions and responsibilities are the element of the job description that will be evaluated in the performance review. The HR department will have collected the metrics by which the execution of these activities is judged during the initial job analysis. In addition, it will have evaluated which acts are deemed good and which are deemed inadequate. Using this information, it is feasible to analyze the performance of each employee and determine if certain characteristics of their performance are desirable or undesirable. Depending on the nature of the individual performance category, the evaluation should combine both objective and subjective measurements. While numerical results are easier to grasp, they typically do not provide a whole picture and are susceptible to abuse.

Part 2

Historically, performance evaluations have occurred at regular periods, often once a year, and in a formal setting. However, as Trost (2019) argues, this strategy has recently been subjected to severe criticism for its ineffective use in the increasingly agile setting of contemporary business. This paper suggests utilizing a less formal and unscheduled system in which HR department representatives interact with employees to deliver and receive feedback. They will analyze previous achievements and failures and attempt to develop strategies for enhancing the former and avoiding the latter. By doing so, the department will be able to engage with employees and boost their morale, while also generating higher performance results as a result of lessening the impact of change on the workforce. To reach this objective, however, it is vital to examine and discuss performance that is pertinent to the role and the individual.

The HR department will use both objective data from the company's data collection activities and subjective information from workers' supervisors to do the evaluation. The former will be utilized to obtain objectively measurable performance metrics and compare them to those derived from the job analysis. For results more closely related with conduct and comparable immeasurable aspects, supervisors will share their impressions of the employee, preferably with particular events mentioned. The obtained outcomes will then be compared to the company's managers' objectives and shared with the workforce. Along with suggestions for improvement, the employees will have the option to respond to the review and express their input. To boost worker morale and encourage them to put up their best effort, goals may be changed to a certain extent, if justified.

Part 3

Evaluation of performance is related with several opportunities for enhancing the company's operations. As stated previously, the corporation will prioritize the merit of its employees' work, that is, acts that enhance the company's performance. In addition, it will assist distinguish the best performers from the worst and present them with incentives such as pay raises and promotions to places where they can contribute more to the organization. This study presents a technique of performance management that has the potential to improve ties between leadership and employees by facilitating more mutual understanding. Workers will have a greater understanding of the company's strategic aims and vision, and will be able to provide feedback and ensure that the implementation of this plan takes into account actual realities.

However, performance evaluations are also related with a number of concerns and obstacles that require the HR department to exercise considerable care and monitoring. Hanscom et al. (2018) cite potential problems include contextual circumstances, contradictory performance appraisal aims, and rater desire to mislead evaluations. Depending on the context, the evaluation standards may not reflect reality, and cultural differences might impact the areas of performance a management focuses. Hanscom et al. (2018) examine the inconsistency of utilizing the same evaluations for incentive administration and feedback gathering, as both objectives are incompatible. To ensure that neither item skews the results of the other, distinct evaluative methods must be applied to each. Finally, the temptation of managers to manipulate evaluation outcomes in order to avoid reducing staff morale must be considered and handled.

Summary

The current HR framework of the organization requires a comprehensive redesign, which will consist of three distinct phases. First, it is required to do a job analysis for each position in the organization in order to determine which behaviors enhance or hinder performance. The responsibilities of each employee have evolved through time, and there is currently much misunderstanding on who is responsible for which duties. Following this method, each position's new job description can be formulated and implemented. Defining responsibilities and bringing clarity, they will assist in resolving the confusion regarding the tasks and tools that should be employed by each employee, so eliminating the ambiguity. Every employee will understand what is expected of them and be able to develop and apply the required competencies.

Following the development of job descriptions, the performance evaluation process can commence. It is a continual procedure that occurs throughout the company's existence and aims to ensure that each employee meets the management-set objectives. The evaluation will combine both objective information from the company's records and the supervisor's subjective impressions. This information will be compared to the factors specified in the job description and rated satisfactory or problematic based on the results. The results will then be communicated to the employee in the form of frequent, informal discussions between HR personnel and the employee, during which both parties will seek to address issues and provide feedback. Through this approach, the organization should be able to eliminate biases while strengthening its connections with employees and ensuring the success of its strategy.

References

Doyle, A. (2020). Hard talents versus soft skills: What is the distinction?

Falcone, P., & Tan, W. (2013). Redesigning your performance review template to achieve individual and organizational change: the performance appraisal toolkit Web.

M. E. Hanscom, J. N. Cleveland, and K. R. Murphy (2018). Evaluation of performance and management. Publications by SAGE.

Mader-Clark, M. (2013). The employment description manual (3rd ed). Web.

Mitchell, B., & Gamlem, C. (2017). The revised and updated edition of The Big Book of Human Resources. The Career Press

Morgeson, F. P., E. L. Levine, and M. T. Brannick (2019). Methods, research, and applications for human resource management pertaining to job and work analysis (3rd ed.). Publications by SAGE.

Picardi, C. A. (2019). Recruiting and selection techniques for workforce planning and evaluation. Publications by SAGE.

Prien, E.P., Goodstein, L.D., Goodstein, J., & Gamble, L. G. (2009). A practical guide to employment analysis. Web.

Robbins, S. P., DeCenzo, D. A., & Verhulst, S. L. (2016). Management of human resource fundamentals (12th ed.). Wiley.

Trost, A. (2019). (2019). Human resource strategies: Striking a balance between stability and adaptability in the age of digitization. Springer International Publishing is an international publishing company.

Vandenabeele, M. S. (2016). How I fit in and why I'm significant [Video file].

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Bookkeeping Business Plan For Bendigo Essay Help Free

Table of Contents
Description of the problem Context of the problem and ongoing study in the subject Justifications for the problem's existence and justifications for selecting it Methodology for a Literature Review Principal research queries References

Description of the problem

Internet advertising is a highly profitable endeavor, but the improper application of management accounting techniques can prevent a company from achieving profitability. After conducting an analysis of the companies' financial situation from the perspective of the cost managerial accounting approaches, i.e. standard cost accounting, activity-based costing, throughput accounting, lean accounting, and resource consumption accounting, it may be possible to identify the accounting system failures those businesses are experiencing and make suggestions for improving the strategy and increasing profit through the implementation of good decisions. In addition, the facts regarding the optimal method to use in the sector of web advertising will be considered.

The problem's context and ongoing research in the field

There is a great deal of current research in the field devoted to Internet advertising; however, it was unable to discover research committed to data collecting in the field for accounting purposes. In addition, there is a paucity of internet resources devoted to cost accounting-based recommendations for enhancing the profitability of online advertising. In addition, it can be stated that the research will be novel, as no previous research has identified the optimal cost accounting method for decision-making in the sector of web advertising.

Reasons for the problem's existence and justifications for selecting it

Despite the fact that advertising on the Internet is becoming a very lucrative business, the intense competition poses some difficulties for the organizations engaged. Some businesses do not achieve the anticipated profit. One of the primary reasons for the development of problems is that procedures that work in other fields are ineffective on the Internet. This topic is chosen because Internet and advertising present an excellent chance for creative study in the field of accounting. In addition, the choice of cost accounting methodologies (standard cost accounting, activity-based costing, throughput accounting, lean accounting, and resource consumption accounting) may assist some businesses in making advertising-related decisions.

Literature review

Conducting a literature review on the issue of web advertising and the profit companies can make from it, it should be noted that advertising in this manner is inexpensive and available "24 hours a day and up to 365 days a year" (Janoschka 2004, p. 41), especially when compared to traditional advertising methods. Information Resources Management Association, International Conference, and Khosrowpour (2001) suggest that, from the perspective of cost accounting, Web advertising should take into consideration "accounting system characteristics only as network effects resulting from association" (p. 1109). Furthermore, it is normal for businesses to develop websites for marketing purposes. This permits them to advertise their products on their personal websites online (Stickney, Weil, & Schipper 2009, p. 349). However, the authors do not evaluate the best cost accounting methods that may be utilized to make decisions regarding the placement of advertisements on the Internet.

Albrecht, Stice, Stice, and Swain (2007) discuss the significance of considering the recent accounting scandals that erupted in relation to the revenue that should be recognized from internet advertising operations. The web-based advertising campaign should not only address accounting systems for decision-making, but also the taxes of the Internet (Laurence & Miller 2000). Armstrong and Barrett (2001) propose the adoption of the CPM online approach for profit computation, as Procter & Gamble did when it made its first amount of money over the Internet, without utilizing any cost accounting method. Nonetheless, this technique may be deemed obsolete and ineffectual for the time being. Brown (2006) offers to simplify the decision-making process by locating all accounting-related information on the Internet utilizing the most modern software, which enables users to employ various cost accounting methods and perform calculations online at minimal cost.

Methodology

The research approach should be qualitative, as it will help determine which accounting system is optimal for making judgments on the Internet. It is necessary to evaluate the firms that utilize the Internet for advertising and the Internet organizations that supply online advertising services to those enterprises. The survey should be designed using cost accounting techniques, with questions pertaining to the company' operations.

Principal research queries

The primary research questions should be:

What cost accounting procedures do businesses employ when making decisions with online advertising agencies? Which strategy is deemed to be the most suitable for both the companies' clientele and their service providers? Which cost accounting techniques are most effective for determining profit?

References

Albrecht, W. S., J. D. Stice, E. K. Stice, and M.R. Swain, 2007. The concepts and applications of accounting. Cengage Learning is based in Stamford

Armstrong, S. & Barrett, N., 2001. How to communicate your message on the World Wide Web with Internet advertising. Kogan Page Publishers, London.

Brown, Benjamin C., 2006. How to advertise, promote, and market your business or website on the Internet at little or no cost. Atlantic Publishing Company, Ocala, Florida.

International Conference of the Information Resources Management Association, and M. Khosrowpour, 2001. Information technology management in a global economy. Hershey, Pennsylvania: Idea Group Inc (IGI).

Janoschka, A., 2004. Web advertising: new types of Internet communication. John Benjamins Publishing Organization.

Laurence, H., & Miller, W., 2000. Internet research for academic purposes: choices for scholars and libraries. Routledge, London

Stickney, C. P., Weil, R. L., & Schipper, K., 2009. An Introduction to Financial Accounting Concepts, Methods, and Applications. Cengage Learning is based in Stamford

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Non-Profit And Governmental Entities Finances Essay Help Free

Table of Contents
Introduction Reporting Requirements Observance of Governmental Accounting Standards (GAS) Variations in Analysis Example Financial Statements Conclusion Bibliography

Introduction

Governmental organizations are sovereign institutions with superior jurisdiction over all other nominally and informally constituted businesses. Non-profit organizations, on the other hand, are organizations that operate in accordance with local and state government rules. In addition to this disparity, various organizations present and report their financial information differently. Typically, government institutions use the Government Accounting Standards (GAS), whereas non-profits employ the Financial Accounting Standards (FAS). Understanding the distinctions between requirements and standards is essential for accountants and managers to navigate reporting processes inside their organizations. This article will therefore examine the variations in financial reporting between these two types of businesses, using GAS as a point of reference.

Reporting Conditions

Depending on characteristics such as ownership and manner of operation, businesses prepare and report their financial accounts in various ways. Brusca et al. (2015) assert that accounting for non-profit organizations requires extensive scrutiny for reasons such as maintaining tax-exempt status and processing personal donations. Periodically, nonprofits offer financial assessments and updates to the board of directors. Non-profit organizations should include a profit and loss statement (Statement of Financial Activities) and a balance sheet in their board reports (Statement of Financial Position). The staff and board of directors of non-profit organizations must concur on the required reports, the frequency of their presentation, and the stakeholders who will have access to them. Non-profits often generate one-page executive summaries containing narrative notes and detailed, specialized reports for the general board (Brusca et al., 2015). Among these reports are cash flow projections, project and program reports, and fundraising progress reports.

Governmental financial reporting involves the dissemination of information regarding the financial activities and standing of the government. According to Brusca et al. (2015), government financial reports should enable relevant parties (taxpayers and creditors) to compare the legally established budget with the actual financial results. The reports should aid in determining compliance with financial regulations, rules, and statutes. Although these reports cannot satisfy the needs of all stakeholders, they should demonstrate government responsibility.

There are impending disparities between the financial reporting of non-profits, governmental entities, and for-profit organizations due to factors such as the scope of operations and organizational aims. In their financial reports, for-profit corporations present their assets as entities that can be distributed to shareholders as retained earnings. However, non-profits report their assets as resources that they can utilize to advance their missions and goals. In addition, for-profit organizations use their accounting reports to track their net profits, whereas non-profit organizations use them to track the revenue surplus over expenditures.

The primary distinction between the financial reporting of for-profit and government enterprises is the stakeholders involved in each case. Financial reporting in for-profit enterprises is intended for shareholders who expect a return on their investment. In exchange for transparency, integrity, and the provision of adequate social amenities and government services, governmental bodies address taxpayers and creditors.

Observance of Governmental Accounting Standards (GAS)

Similar to government organizations, non-profits do not seek financial gain. Instead, non-profit organizations and government agencies assess their financial statements to determine if they have deficits or surpluses. Pavan et al. (2018) explain that government organizations can calculate surpluses and deficits for compliance purposes using the GAS accounting system. Using this method, non-profit organizations can manage their accounting compliance difficulties, since they want to have a relatively small gap between their expenditures and revenues. Since governments are not in business to generate a profit, they cut the tax burden on taxpayers when they obtain surpluses. Similarly, nonprofits might employ this strategy by requesting less financial assistance from contributors. Adopting this GAS method assists non-profit organizations in maintaining compliance.

Variations in Analyses

The development of accounting has spawned numerous accounting organisations with diverse accounting standards. Eames, Luttman, and Parker (2018) propose that the purpose of the financial analysis is the primary distinction between the traditional approach and the non-profit and government approaches. Consequently, for-profit businesses are often examined utilizing structured data pertaining to a company's financial status and viability. For instance, academic research indicates that several financial statistics can be used to determine whether or not a business is functioning successfully (Bragg, 2017). These ratios include measurements of liquidity, profitability, investment efficiency, and other essential indicators for assessing the financial success of a for-profit business.

In contrast, the study of the financial statements of non-profit organizations frequently employs other performance metrics. For instance, Bragg (2017) asserts that examining the integrity of financial reporting, sustainability, and corporate governance is essential for comprehending the success of non-profit organizations. Consequently, the incorporation of these components into analysis renders these financial statements exhaustive and pragmatic, since they handle all aspects of a non-profit company. Governmental organizations benefit from both approaches to analysis since they must maintain long-term viability while also adhering to norms and standards.

Example Financial Statements

Figures 1 and 2 display sample financial statements for a non-profit organization and a government agency, respectively. The first statement respects government reporting rules by identifying the assets, liabilities, and net profits of the foundation. The second statement is for a non-profit organization since it emphasizes the net income generated from operations, which is utilized to fund future activities. Comparison of the two statements enables the distinctions between non-profit and government reporting and conventional reporting to be highlighted.

The Helping Hands Foundation's (Governmental) Statement of Financial Position is depicted in Figure 1.

ASSETS Total

Cash $3,050

Receivables from Pledges $3,000

Grants $5,100

Equipment $900

THE TOTAL ASSETS ARE $12,050

LIABILITIES

Long Term Debt $150

Accounts Receivable $2,000

Total Liabilities $2,150

RESULTANT ASSETS

$6,000 Restricted Net Assets

$2,900 in Unrestricted Net Assets

$8,900 Total Net Assets

Figure 2. Helping Hands (Non-Profit) Description of Activities

Unrestricted Restricted Quantity

Revenues

Gifts of $11,250 $3,200

Fees $13,700

Others cost $550

Total Revenues $25,500 $3,200 $46,700

Expenses

Management $5,900

General $9,450

Fundraising $6,700

Total Expenses $22,050

$22,050

Gross Profit $3,450 $3,200 $6,650

Conclusion

In terms of financial reporting and analysis, government agencies and non-profit organizations differ in a number of ways. Reporting is essential for both sorts of entities because it promotes the promotion of transparency and financial sustainability, thereby allowing organizations to carry out their missions. Governmental Accounting Standards (GAS) are important for identifying and executing the appropriate reporting methods for governmental bodies, whilst Financial Accounting Standards (FAS) can be used in the same way by non-profits. Following the concepts of financial analysis, both governmental and non-profit organizations are able to draw significant conclusions from their financial accounts and apply them to their decision-making processes. Thus, the collecting, processing, and utilization of financial information can assist all types of businesses in making strategic decisions, guaranteeing long-term viability, and meeting the needs of stakeholders.

References

Bragg, S. M. (2017). Financial analysis: A guide to business decisions (3rd ed.). Accounting Software.

Brusca, I., Caperchione, E., Cohen, S., & Rossi, F. M. (2015). Comparing European accounting systems. In Accounting and Auditing in the European Public Sector (pp. 235-251). Palgrave Macmillan.

Eames, M., Luttman, S., & Parker, S. (2018). Accounting education accelerated versus conventional and CPA exam results. 44, 1-13, Journal of Accounting Education

Pavan, A., Dessalvi, B., & Paglietti, P. (2018). Fund Accounting from the Early Italian Tradition to Governmental US GAAP. The International Journal of Public Administration, 41(9), pages 746 to 757.

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Table of Contents

Introduction Requirements for Reporting Observance of Governmental Accounting Standards (GAS) Variations in Analysis Example Financial Statements Conclusion Bibliography

Introduction

Governmental organizations are sovereign institutions with superior jurisdiction over all other nominally and informally constituted businesses. Non-profit organizations, on the other hand, are organizations that operate in accordance with local and state government rules. In addition to this disparity, various organizations present and report their financial information differently. Typically, government institutions use the Government Accounting Standards (GAS), whereas non-profits employ the Financial Accounting Standards (FAS). Understanding the distinctions between requirements and standards is essential for accountants and managers to navigate reporting processes inside their organizations. This article will therefore examine the variations in financial reporting between these two types of businesses, using GAS as a point of reference.

Reporting Conditions

Depending on characteristics such as ownership and manner of operation, businesses prepare and report their financial accounts in various ways. Brusca et al. (2015) assert that accounting for non-profit organizations requires extensive scrutiny for reasons such as maintaining tax-exempt status and processing personal donations. Periodically, nonprofits offer financial assessments and updates to the board of directors. Non-profit organizations should include a profit and loss statement (Statement of Financial Activities) and a balance sheet in their board reports (Statement of Financial Position). The staff and board of directors of non-profit organizations must concur on the required reports, the frequency of their presentation, and the stakeholders who will have access to them. Non-profits often generate one-page executive summaries containing narrative notes and detailed, specialized reports for the general board (Brusca et al., 2015). Among these reports are cash flow projections, project and program reports, and fundraising progress reports.

Governmental financial reporting involves the dissemination of information regarding the financial activities and standing of the government. According to Brusca et al. (2015), government financial reports should enable relevant parties (taxpayers and creditors) to compare the legally established budget with the actual financial results. The reports should aid in determining compliance with financial regulations, rules, and statutes. Although these reports cannot satisfy the needs of all stakeholders, they should demonstrate government responsibility.

There are impending disparities between the financial reporting of non-profits, governmental entities, and for-profit organizations due to factors such as the scope of operations and organizational aims. In their financial reports, for-profit corporations present their assets as entities that can be distributed to shareholders as retained earnings. However, non-profits report their assets as resources that they can utilize to advance their missions and goals. In addition, for-profit organizations use their accounting reports to track their net profits, whereas non-profit organizations use them to track the revenue surplus over expenditures.

The primary distinction between the financial reporting of for-profit and government enterprises is the stakeholders involved in each case. Financial reporting in for-profit enterprises is intended for shareholders who expect a return on their investment. In exchange for transparency, integrity, and the provision of adequate social amenities and government services, governmental bodies address taxpayers and creditors.

Observance of Governmental Accounting Standards (GAS)

Similar to government organizations, non-profits do not seek financial gain. Instead, non-profit organizations and government agencies assess their financial statements to determine if they have deficits or surpluses. Pavan et al. (2018) explain that government organizations can calculate surpluses and deficits for compliance purposes using the GAS accounting system. Using this method, non-profit organizations can manage their accounting compliance difficulties, since they want to have a relatively small gap between their expenditures and revenues. Since governments are not in business to generate a profit, they cut the tax burden on taxpayers when they obtain surpluses. Similarly, nonprofits might employ this strategy by requesting less financial assistance from contributors. Adopting this GAS method assists non-profit organizations in maintaining compliance.

Variations in Analyses

The development of accounting has spawned numerous accounting organisations with diverse accounting standards. Eames, Luttman, and Parker (2018) propose that the purpose of the financial analysis is the primary distinction between the traditional approach and the non-profit and government approaches. Consequently, for-profit businesses are often examined utilizing structured data pertaining to a company's financial status and viability. For instance, academic research indicates that several financial statistics can be used to determine whether or not a business is functioning successfully (Bragg, 2017). These ratios include measurements of liquidity, profitability, investment efficiency, and other essential indicators for assessing the financial success of a for-profit business.

In contrast, the study of the financial statements of non-profit organizations frequently employs other performance metrics. For instance, Bragg (2017) asserts that examining the integrity of financial reporting, sustainability, and corporate governance is essential for comprehending the success of non-profit organizations. Consequently, the incorporation of these components into analysis renders these financial statements exhaustive and pragmatic, since they handle all aspects of a non-profit company. Governmental organizations benefit from both approaches to analysis since they must maintain long-term viability while also adhering to norms and standards.

Example Financial Statements

Figures 1 and 2 display sample financial statements for a non-profit organization and a government agency, respectively. The first statement respects government reporting rules by identifying the assets, liabilities, and net profits of the foundation. The second statement is for a non-profit organization since it emphasizes the net income generated from operations, which is utilized to fund future activities. Comparison of the two statements enables the distinctions between non-profit and government reporting and conventional reporting to be highlighted.

The Helping Hands Foundation's (Governmental) Statement of Financial Position is depicted in Figure 1.

ASSETS Total

Cash $3,050

Receivables from Pledges $3,000

Grants $5,100

Equipment $900

THE TOTAL ASSETS ARE $12,050

LIABILITIES

Long Term Debt $150

Accounts Receivable $2,000

Total Liabilities $2,150

RESULTANT ASSETS

$6,000 Restricted Net Assets

$2,900 in Unrestricted Net Assets

$8,900 Total Net Assets

Figure 2. Helping Hands (Non-Profit) Description of Activities

Unrestricted Restricted Quantity

Revenues

Gifts of $11,250 $3,200

Fees $13,700

Others cost $550

Total Revenues $25,500 $3,200 $46,700

Expenses

Management $5,900

General $9,450

Fundraising $6,700

Total Expenses $22,050

$22,050

Gross Profit $3,450 $3,200 $6,650

Conclusion

In terms of financial reporting and analysis, government agencies and non-profit organizations differ in a number of ways. Reporting is essential for both sorts of entities because it promotes the promotion of transparency and financial sustainability, thereby allowing organizations to carry out their missions. Governmental Accounting Standards (GAS) are important for identifying and executing the appropriate reporting methods for governmental bodies, whilst Financial Accounting Standards (FAS) can be used in the same way by non-profits. Following the concepts of financial analysis, both governmental and non-profit organizations are able to draw significant conclusions from their financial accounts and apply them to their decision-making processes. Thus, the collecting, processing, and utilization of financial information can assist all types of businesses in making strategic decisions, guaranteeing long-term viability, and meeting the needs of stakeholders.

References

Bragg, S. M. (2017). Financial analysis: A guide to business decisions (3rd ed.). Accounting Software.

Brusca, I., Caperchione, E., Cohen, S., & Rossi, F. M. (2015). Comparing European accounting systems. In Accounting and Auditing in the European Public Sector (pp. 235-251). Palgrave Macmillan.

Eames, M., Luttman, S., & Parker, S. (2018). Accounting education accelerated versus conventional and CPA exam results. 44, 1-13, Journal of Accounting Education

Pavan, A., Dessalvi, B., & Paglietti, P. (2018). Fund Accounting from the Early Italian Tradition to Governmental US GAAP. The International Journal of Public Administration, 41(9), pages 746 to 757.

[supanova question]

The Hospitality And Tourism Marketing Environment Essay Help Free

Literature review

It appears that the tourist and hotel industry is a diverse commercial sector. Numerous producers, consumers, and providers of tourism-related goods and services comprise the industry. There are numerous government agencies, non-governmental organizations, and billions of international and local tourists in this market (Mattila 2004, p.452). Since the primary objective of tourists is to consume tourism-related goods and services, the destination's characteristics will always attract them. Ineffective and uncoordinated government and non-government controls contribute to the fragmented nature of any tourist plant. However, the frequent tourist visits are sufficient to moderate the way and strategies employed to regulate the tourism business (Back and Parks) (2003, p.424).

Each country in the globe provides thousands of effectively run tourism firms. The famed Australian tourist destination, for instance, permitted around 46,000 tourism firms to be owned and run by both foreigners and Australian citizens or nationals. Most of these tourism firms are modest or small in size and are independently owned and operated by families (Hemmington 2007, p.750). In the tourism industry as a whole, tourism business groups provide the justification for unity and business agreement. These tourism trade connections now reflect a multitude of departmental interests. Even now, a considerable number of local, state, and federal trade groups tend to exist. Typically, these tourism organizations engage in tourism trade activities that compete with one another. Typically, such groups are able to express the wants and desires of its members. In fact, the literature indicates that the organizations adopt and endorse policies that appear to favor honest tourism enterprise operations (Mattila 2004, p.453). However, none of these organizations have the ability to implement effective controls.

Membership in the tourism industry is voluntary, and corporate affiliates may choose not to accept the sector's directives without repercussions. The policy clause recognizing and validating the regulatory role that could be played by tourism trade associations (Vargo & Lusch 2004, p.12).

The discontinuous nature of the state’s engagement and control in tourism operations exacerbates the challenges within the tourism industry. The approval of tourism expansion and development is monitored by Commonwealth organizations, local governments, and state agencies. According to Hemmington (2007, p.751), eight municipal, state, and federal entities appear to oversee coastal tourism and hospitality administrative matters in Tasmanian tourist sites. The Murray River acts as a destination for tourists inside the New South Wales Victoria border region. This tourist location is typically managed and overseen by locals. Additionally, seventeen states and commonwealth organizations participate in the approval processes.

The stated multijurisdictional nightmares in the tourism industry likely to cause additional issues and misunderstanding over the agencies that should and can control a variety of tourism products, services, and activities. Therefore, in the majority of tourist locations, there have been reports of legal control gaps. In some cases, there are redundant control efforts (Vargo & Lusch 2004, p.14). More often than not, it appears that no state authority is able or willing to exercise effective control and management over tourism locations and related activities.

According to Back and Parks (2003, p.425), the most difficult task that government agencies and the tourist industry face is exercising control and authority over tourism locations and activities. Developing control mechanisms and strategic plans has shown to be only as effective as the willingness to implement them. Moreover, in free market systems, highly unregulated and diversified industries, such as the tourism industry, are destined to continue resisting expansion efforts. Consequently, effective control and management activities are only possible through integrated programs that combine local, state, and federal policies and laws. That is, the national program should be incorporated into the control systems. Given that such programs are included in the Environmental Movement Act of 1989, it is unlikely that they will be incorporated into Commonwealth policy (Hemmington 2007, p.752).

The corporation Four Seasons Hotels (FSHI)

Canadian-based FSHI is a prominent international luxury tourism and hospitality establishment. Currently, Four Seasons Hotel Inc. is universally acknowledged as a five-star hotel offering leisure, travel, and tourism-related activities. Given that FSHI is among the elite companies in the hotel industry, it employs a variety of marketing methods and positioning tools to overcome the industry's numerous difficulties. Due to the competitive nature of the tourist and hospitality sector, Four Seasons Hotel Inc. has based its service and commercial endeavors on emotional intelligence principles.

In order to become the market leader, the management pursues enhanced profit performance, employee satisfaction, client satisfaction, and team performance. To achieve these goals, Four Seasons Hotels Inc. selects and trains qualified personnel capable of enhancing the company's operational performance. These employees are required to monitor the quality of services and products provided to customers. By utilizing the emotional intelligence characteristics, the FSHI staff creates relationships between guests and hosts that extend beyond the typical customer service interaction. The immediate unit management and frontline employees produce an aesthetically pleasing environment and enhanced guest experiences.

The visitor to host exchange

The Four Seasons Hotel Inc strives to provide guests with unique experiences. The hospitality practices of this tourist and hospitality organization typically foster a sense of camaraderie between guests. Staff conduct reflects hospitality traditions. All guests are welcomed, regardless of their potential to become regulars. In actuality, all visitors and strangers may be considered as friends. All are absorbed and integrated into the company systems with either fear or favor. The customers are welcomed and presented with surprising presents. The presents surpass the standard promotional incentives that are frequently presented to clients. Since the presents have ulterior objectives, they are given to the visitors in an impersonal manner. At Four Seasons Hotels, guests are provided with a sense of comfort and well-being.

Marketing techniques and methods

The Four Seasons Hotel bases its tourism marketing and commercial hospitality on emotive guest experiences and traditional hospitality. In actuality, the company promotes a business strategy focused at acquiring a competitive advantage by providing exceptional services. According to the research on service marketing, Kotler (2003, p.67) suggests that marketing strategies targeted at competing by providing quality service are rarely reproduced in comparison to strategies based on low pricing. The Four Seasons Hotel's quality strategy makes it less sensitive to market competition pressures and cultivates more loyal customers.

The marketing strategy favored by Four Seasons Hotels tends to introduce new dimensions. This company's customary advertising for hospitality increases the likelihood that FSHI will provide good hosting. In fact, even outsiders are likely to form lasting friendships. This concept asserts that, within the context of commerce, friends who are also clients tend to increase loyalty levels. Typically, such customers develop an emotional attachment to the tourist and hospitality services provided by The Four Seasons Hotels Inc., and they will always maintain their relationships.

Four Seasons Hotels has been in constant contact with its clients and friends. The communications are typically tailored to each client's unique requirements, preferences, dislikes, and inclinations. The company's management typically sends Christmas cards, wedding anniversary letters, and birthday cards in accordance with the clients' and friends' practices. These marketing strategies eschew corporate outputs and are excessively formulaic; they typically lack a personal touch.

The corporation routinely invites clients to special events it has planned. As esteemed clients and friends, they are granted exclusive access to company events. These tactics are utilized by this company to engage with clients and develop long-term relationships with them. They aid in the formation of unique commercial associations. As a well-known corporation, the Four Seasons Hotels offer complimentary preferred beverages to their frequent guests. Guests who have dined at the Four Seasons' banquet halls are typically served in their rooms by the front desk personnel. Therefore, it is understood that regular communications with friends, guests, and clients occur at the individual, unit, and corporate levels.

The company's brand imagery, advertising messaging, and public relations outputs are tied to the responsibilities and ideals of its traditional hospitality. Various well-known quotations illustrate the Four Seasons Hotels Corporation's marketing strategies. Enjoy the living atmosphere of the Four Seasons Hotels Island home' is one of these quotations. FSHI is where guests are greeted as foreigners upon arrival. Eventually, the guests will go as cherished friends. In other circumstances, though, the Four Seasons Hotels name could be utilized to emphasize potential affiliations. For instance, the names of contemporary types of lodging and attractions, such as enjoy the value of your dollar and get adequate rest, reflect the responsibilities of the host and the conventional notion of hospitality.

Management and front-desk personnel act as the essential marketing or promotional interface with both clients and tourists. The staff at Four Seasons Hotels goes above and beyond merely providing service. They are considered as hosts who provide the desired experience for guests. Not only do they handle complaints and upsell products and services, but they also play crucial marketing roles. In addition, they provide visitors with the key products, services, and other brand values.

The Four Seasons Hotels Company finally recognizes the significance of advertising campaigns. Through media campaigns, the company establishes its product brand image and differentiates its products and services from those of other market competitors. It emphasizes local attractions, other locations, personal services, and resort facilities. Newspapers, periodicals, televisions, radios, and the Internet all feature Four Seasons Hotels. Currently, the organization has begun to implement strategic tourism marketing tactics. It asserts its global presence through Facebook and other networks. Through consumer research, the organization delivers a comprehensive tourism marketing guide and conducts in-depth service marketing.

References

Back, K., and Parks, S.C., "A brand loyalty model involving cognitive, affective, and cognitive brand loyalty and customer satisfaction," Journal of Hospitality and Tourism Research, vol. 27, no. 4, pp. 419–435, 2003.

Hemmington, N. (2007). "From service to experience: Understanding and defining the hospitality industry." The Service Industries Journal, vol.27, no.6, pages 747-755.

Kotler, P. (2003). A marketing management framework. Prentice Hall, Oxford.

Consumer behavior research in hotel and tourism publications. International Journal of Hospitality Management, volume 23, pages 449–457, 2004.

Vargo, S.L., and R.F. Lusch, "Evolving to a new dominant logic for marketing," Journal of Marketing, vol.68, no.1, pp.1–17, 2004.

[supanova question]

The Hospitality And Tourism Marketing Environment Essay Help Free

Literature review

It appears that the tourist and hotel industry is a diverse commercial sector. Numerous producers, consumers, and providers of tourism-related goods and services comprise the industry. There are numerous government agencies, non-governmental organizations, and billions of international and local tourists in this market (Mattila 2004, p.452). Since the primary objective of tourists is to consume tourism-related goods and services, the destination's characteristics will always attract them. Ineffective and uncoordinated government and non-government controls contribute to the fragmented nature of any tourist plant. However, the frequent tourist visits are sufficient to moderate the way and strategies employed to regulate the tourism business (Back and Parks) (2003, p.424).

Each country in the globe provides thousands of effectively run tourism firms. The famed Australian tourist destination, for instance, permitted around 46,000 tourism firms to be owned and run by both foreigners and Australian citizens or nationals. Most of these tourism firms are modest or small in size and are independently owned and operated by families (Hemmington 2007, p.750). In the tourism industry as a whole, tourism business groups provide the justification for unity and business agreement. These tourism trade connections now reflect a multitude of departmental interests. Even now, a considerable number of local, state, and federal trade groups tend to exist. Typically, these tourism organizations engage in tourism trade activities that compete with one another. Typically, such groups are able to express the wants and desires of its members. In fact, the literature indicates that the organizations adopt and endorse policies that appear to favor honest tourism enterprise operations (Mattila 2004, p.453). However, none of these organizations have the ability to implement effective controls.

Membership in the tourism industry is voluntary, and corporate affiliates may choose not to accept the sector's directives without repercussions. The policy clause recognizing and validating the regulatory role that could be played by tourism trade associations (Vargo & Lusch 2004, p.12).

The discontinuous nature of the state’s engagement and control in tourism operations exacerbates the challenges within the tourism industry. The approval of tourism expansion and development is monitored by Commonwealth organizations, local governments, and state agencies. According to Hemmington (2007, p.751), eight municipal, state, and federal entities appear to oversee coastal tourism and hospitality administrative matters in Tasmanian tourist sites. The Murray River acts as a destination for tourists inside the New South Wales Victoria border region. This tourist location is typically managed and overseen by locals. Additionally, seventeen states and commonwealth organizations participate in the approval processes.

The stated multijurisdictional nightmares in the tourism industry likely to cause additional issues and misunderstanding over the agencies that should and can control a variety of tourism products, services, and activities. Therefore, in the majority of tourist locations, there have been reports of legal control gaps. In some cases, there are redundant control efforts (Vargo & Lusch 2004, p.14). More often than not, it appears that no state authority is able or willing to exercise effective control and management over tourism locations and related activities.

According to Back and Parks (2003, p.425), the most difficult task that government agencies and the tourist industry face is exercising control and authority over tourism locations and activities. Developing control mechanisms and strategic plans has shown to be only as effective as the willingness to implement them. Moreover, in free market systems, highly unregulated and diversified industries, such as the tourism industry, are destined to continue resisting expansion efforts. Consequently, effective control and management activities are only possible through integrated programs that combine local, state, and federal policies and laws. That is, the national program should be incorporated into the control systems. Given that such programs are included in the Environmental Movement Act of 1989, it is unlikely that they will be incorporated into Commonwealth policy (Hemmington 2007, p.752).

The corporation Four Seasons Hotels (FSHI)

Canadian-based FSHI is a prominent international luxury tourism and hospitality establishment. Currently, Four Seasons Hotel Inc. is universally acknowledged as a five-star hotel offering leisure, travel, and tourism-related activities. Given that FSHI is among the elite companies in the hotel industry, it employs a variety of marketing methods and positioning tools to overcome the industry's numerous difficulties. Due to the competitive nature of the tourist and hospitality sector, Four Seasons Hotel Inc. has based its service and commercial endeavors on emotional intelligence principles.

In order to become the market leader, the management pursues enhanced profit performance, employee satisfaction, client satisfaction, and team performance. To achieve these goals, Four Seasons Hotels Inc. selects and trains qualified personnel capable of enhancing the company's operational performance. These employees are required to monitor the quality of services and products provided to customers. By utilizing the emotional intelligence characteristics, the FSHI staff creates relationships between guests and hosts that extend beyond the typical customer service interaction. The immediate unit management and frontline employees produce an aesthetically pleasing environment and enhanced guest experiences.

The visitor to host exchange

The Four Seasons Hotel Inc strives to provide guests with unique experiences. The hospitality practices of this tourist and hospitality organization typically foster a sense of camaraderie between guests. Staff conduct reflects hospitality traditions. All guests are welcomed, regardless of their potential to become regulars. In actuality, all visitors and strangers may be considered as friends. All are absorbed and integrated into the company systems with either fear or favor. The customers are welcomed and presented with surprising presents. The presents surpass the standard promotional incentives that are frequently presented to clients. Since the presents have ulterior objectives, they are given to the visitors in an impersonal manner. At Four Seasons Hotels, guests are provided with a sense of comfort and well-being.

Marketing techniques and methods

The Four Seasons Hotel bases its tourism marketing and commercial hospitality on emotive guest experiences and traditional hospitality. In actuality, the company promotes a business strategy focused at acquiring a competitive advantage by providing exceptional services. According to the research on service marketing, Kotler (2003, p.67) suggests that marketing strategies targeted at competing by providing quality service are rarely reproduced in comparison to strategies based on low pricing. The Four Seasons Hotel's quality strategy makes it less sensitive to market competition pressures and cultivates more loyal customers.

The marketing strategy favored by Four Seasons Hotels tends to introduce new dimensions. This company's customary advertising for hospitality increases the likelihood that FSHI will provide good hosting. In fact, even outsiders are likely to form lasting friendships. This concept asserts that, within the context of commerce, friends who are also clients tend to increase loyalty levels. Typically, such customers develop an emotional attachment to the tourist and hospitality services provided by The Four Seasons Hotels Inc., and they will always maintain their relationships.

Four Seasons Hotels has been in constant contact with its clients and friends. The communications are typically tailored to each client's unique requirements, preferences, dislikes, and inclinations. The company's management typically sends Christmas cards, wedding anniversary letters, and birthday cards in accordance with the clients' and friends' practices. These marketing strategies eschew corporate outputs and are excessively formulaic; they typically lack a personal touch.

The corporation routinely invites clients to special events it has planned. As esteemed clients and friends, they are granted exclusive access to company events. These tactics are utilized by this company to engage with clients and develop long-term relationships with them. They aid in the formation of unique commercial associations. As a well-known corporation, the Four Seasons Hotels offer complimentary preferred beverages to their frequent guests. Guests who have dined at the Four Seasons' banquet halls are typically served in their rooms by the front desk personnel. Therefore, it is understood that regular communications with friends, guests, and clients occur at the individual, unit, and corporate levels.

The company's brand imagery, advertising messaging, and public relations outputs are tied to the responsibilities and ideals of its traditional hospitality. Various well-known quotations illustrate the Four Seasons Hotels Corporation's marketing strategies. Enjoy the living atmosphere of the Four Seasons Hotels Island home' is one of these quotations. FSHI is where guests are greeted as foreigners upon arrival. Eventually, the guests will go as cherished friends. In other circumstances, though, the Four Seasons Hotels name could be utilized to emphasize potential affiliations. For instance, the names of contemporary types of lodging and attractions, such as enjoy the value of your dollar and get adequate rest, reflect the responsibilities of the host and the conventional notion of hospitality.

Management and front-desk personnel act as the essential marketing or promotional interface with both clients and tourists. The staff at Four Seasons Hotels goes above and beyond merely providing service. They are considered as hosts who provide the desired experience for guests. Not only do they handle complaints and upsell products and services, but they also play crucial marketing roles. In addition, they provide visitors with the key products, services, and other brand values.

The Four Seasons Hotels Company finally recognizes the significance of advertising campaigns. Through media campaigns, the company establishes its product brand image and differentiates its products and services from those of other market competitors. It emphasizes local attractions, other locations, personal services, and resort facilities. Newspapers, periodicals, televisions, radios, and the Internet all feature Four Seasons Hotels. Currently, the organization has begun to implement strategic tourism marketing tactics. It asserts its global presence through Facebook and other networks. Through consumer research, the organization delivers a comprehensive tourism marketing guide and conducts in-depth service marketing.

References

Back, K., and Parks, S.C., "A brand loyalty model involving cognitive, affective, and cognitive brand loyalty and customer satisfaction," Journal of Hospitality and Tourism Research, vol. 27, no. 4, pp. 419–435, 2003.

Hemmington, N. (2007). "From service to experience: Understanding and defining the hospitality industry." The Service Industries Journal, vol.27, no.6, pages 747-755.

Kotler, P. (2003). A marketing management framework. Prentice Hall, Oxford.

Consumer behavior research in hotel and tourism publications. International Journal of Hospitality Management, volume 23, pages 449–457, 2004.

Vargo, S.L., and R.F. Lusch, "Evolving to a new dominant logic for marketing," Journal of Marketing, vol.68, no.1, pp.1–17, 2004.

[supanova question]

Nike Promotion And Distribution Strategy Essay Help Free

Marketing Strategy

Nike employs a variety of promotional methods to improve their market presence. Its promotional strategies have remained unchanged. Nonetheless, the business has taken use of the growing technology. The company's strategies are centered on expansion and profit development (Hill & Jones, 2010). The business maintains its person-marketing strategy. This involves the global participation of the top athletes, sportsmen, national country sports teams, and country-specific sports clubs (Bouchet, Hillairet & Bodet, 2013). This strategy has been successful in promoting their products. The corporation employs well-known figures such as LeBron James to endorse its items and place them on the global market (Hill & Jones, 2010).

Advertising is the company's primary promotional technique. Advertising remains the most essential aspect of product marketing, which continues to aid the company's quick expansion. The corporation use the method to capture the concepts and philosophies of its athletic apparel. It also attracts the interest of clients in worldwide markets (Hill & Jones, 2010). This method increases the profit margins of the organization. Advertising has also contributed to its market share expansion. The advertising methods are centered on demonstrating to the public how technologically advanced sporting shoes result in high and passionate performance (Hill & Jones, 2010).

Nike has pushed Buzz marketing as a tactic for promoting its athletic sneakers. The campaign focuses on getting consumers to engage their coworkers in conversations about distinctive athletic shoes (Hill & Jones, 2010). Consumers can also discuss the elements and characteristics of running shoes that fascinate them and heighten their emotional contagiousness. This strategy also focuses on identifying customer needs, engaging a research and development team to design revolutionary running shoes, and targeting the most relevant audience with an acceptable message (Hill & Jones, 2010).

Evidently, Nike has utilized Integrated Marketing Communication (IMC) to persuade customers that its products are superior. The corporation leveraged the competitive advantage generated by its new range of athletic shoes to attract more customers. Nike's use of mass communication to reach a larger audience remains a vital marketing tactic (Yeshin, 2012). Additionally, the organization has ensured that retail employees have exceptional communication abilities. The blog site "Inside.Nike.com" remains popular with customers. They use it to provide feedback on the company's products (Yeshin, 2012). It has also used prominent athletes in its advertising and ads for their running shoes.

It is suggested that Nike continue marketing its athletic shoes through advertising and the use of prominent athletes. In addition, the corporation should implement a solid technology-based communication strategy to address the vast number of Internet users worldwide (Ferrell & Hartline, 2011). Nike carefully selects promotional techniques that align with the company's broader marketing strategy. This has ensured that all of its strategies contribute significantly to market expansion and revenue growth. Therefore, each strategy remains significant. It is noteworthy that these methods have formed the foundation of Nike's success. Existing strategies should be included into the technological promotion of IMC.

Distribution Methodology

Over decades, Nike has maintained an efficient production method. The company's research and development staff generates new shoe styles quickly. The organization produces goods at a rate that fully satisfies client requirements (Ferrell & Hartline, 2011). In addition, it has utilized overseas production and sourcing in order to increase efficiency and product availability on the market. The company's distribution approach allows it to increase production, shipping, and logistics (Ferrell & Hartline, 2011). Nike has utilized outsourcing as a distribution method for their products. Effective has been the approach of outsourcing distribution services through merchants. This has allowed the corporation to ensure that its products are available on all worldwide markets.

The organization has picked its distribution channels with product availability in mind. In addition, the distribution channels have contributed to the preservation of its image and ideas. The firm leverages retailers to expand distribution and sales (Leeman, 2010). Additionally, overseas producers have established productive business-to-business relationships with retailers, thereby facilitating the appearance of Nike items. Clearly, the corporation has enhanced the use of technology in its distribution operations.

The company uses computer-aided design to save logistics and distribution times (Leeman, 2010). The electronic data interchange has also improved the company's and merchants' distribution and feedback methods. The technical application streamlines inventory systems and facilitates the scheduling of logistical tasks, such as shipping and transportation. In addition, the technology can boost marketing channels inside the process by informing merchants of products that are available and ready for market distribution (Bouchet, Hillairet & Bodet, 2013).

This report suggests that Nike should digitize all distribution operations. This can facilitate distribution channel coordination. Moreover, the strategy would permit cycle management for efficient distribution activities (Leeman, 2010). The application of technology to the management of distribution channels offers more advantages than previous tactics.

References

Bouchet, P., Hillairet, D., & Bodet, G. (2013). Sporting Brands Routledge, New York, NY

Ferrell, O. C., & Hartline, M. D. (2011). Marketing strategy. South-Western Cengage Learning in Australia

Hill, C. W. L., and G. R. Jones (2010). Theoretical framework for strategic management: an integrated approach. Boston, Massachusetts: Houghton Mifflin.

Leeman, J. (2010). Supply Chain Management: manufacturing and retail supply chains that are quick and adaptable. Institute for Business Process Management in Düsseldorf .

Indeedin, T. (2012). Communications marketing integration Routledge, New York, NY

[supanova question]

Business Process Management And Quality Systems Essay Help Free

Table of Contents
Summary Key Learning Objectives Critical Analysis of Statements Related to the Session Relevant Implications Academic Reflections

Summary

The article investigates the quality procedures utilized by numerous organizations across the globe. It has listed elements that have encouraged businesses to adopt quality management systems. Customers' needs, quality requirements, and risk minimization have prompted them to struggle with implementing the quality system. It has explored the relationship between quality systems and the performance outcomes of businesses.

After training participants, he or she performed live observations and informal interviews as part of his or her methodology. The researcher has performed four phases of analysis on the results, including descriptive and interpretive analysis, grouping, and coding. It has been established that companies who invest in quality management systems do not engage in administrative procedures. According to the report, many managers of company enterprises employ ineffective management strategies.

Moreover, corporate objectives differ from process objectives. Additionally, the scholar contends that information regarding the methods, performance outcomes, and results of businesses is unavailable and inaccessible. However, the report does not devalue quality systems; rather, it contends that businesses are not utilizing the value systems offer.

Key Learning Objectives

Since so many organizations have invested in it, the quality system has become a big economic concern. Since 2008, the International Organization for Standardization (ISO) has issued numerous quality assurance certificates. There are seminars in which managers from various companies receive training. Government laws and customer expectations regarding the quality of products and services are among the factors that have compelled businesses to implement quality management systems. Another major element in the paper is that quality management systems are focused on demonstrating performance governance by managing business processes.

For management procedures to be successful, quality systems, particularly those that are computer-based and explain how businesses should operate, must be implemented. Numerous businesses invest a substantial amount of money on systems that, according to them, offer excellent results. Moreover, the outcomes of businesses are dependent on several collaborative activities. Name and document processes to facilitate identification.

A process should have an owner who is accountable for its performance outcomes. The quality of performance outcomes is contingent on quality managers. It is evident from the text that not all stakeholders in some companies are focused on daily procedures. In addition, it is important to remember that ISO 9001 has established what quality management systems must do to encourage the production of high-quality outcomes.

Nevertheless, the certification process's protocols present a hurdle. This is due to the fact that only three enterprises were not certified and manufactured products that did not match international requirements. Others were certified, but did not fulfill the criteria expected. As written papers, quality systems have been taken for granted, and they do not ensure the production of valuable products.

Unless administrators alter their opinion of quality management systems, it is possible that future performance results may be unsatisfactory. Lastly, quality systems are essential to quality management that yields superior performance results.

Statements pertinent to the Session

This article is pertinent in multiple ways to the company management process. First, there is no scientific proof that quality management is characterized by the use of quality systems, so long as the procedures employed in quality systems are controlled. This is essential for recognizing that the use of quality systems does not ensure quality process management. Although a corporation may be accredited, there may be a discrepancy between what is written and what is actually practiced within the organization. Utilizing quality systems and the proper methods and procedures in a business is essential for achieving high-quality output.

Businesses are concentrating on their functional tasks rather than their quality management systems. This is intended to assist them in maintaining their standing in the business world. The establishment of a quality system has two primary components. Investing in the documentation of a company's processes is the first factor. The second factor is that it must build techniques that are vital for coordinating activities within a business to ensure continuous production and supply of items.

Nevertheless, process documentation includes all activities, responsibilities, resources, and products utilized by organizations to carry out their functions. Notably, process management entails identifying, creating, and executing business processes to fulfill organizational objectives. It also includes the managerial, administrative, and supervisory management that regulates the procedures involved in quality management improvement.

Employers and employees must be provided with the information necessary to use quality systems appropriately, and this is a crucial concept for learners to grasp in this session. It is essential to comprehend the necessary procedures for a method to be effective. Nonetheless, it is essential to note that process management entails identifying the owner of a process in order to promote consistency in design, which results in improved performance outcomes.

Critical Evaluation

The significance of this essay lies in its discussion of quality systems in corporate management procedures. First, it has an aim, which is to determine whether the adoption of quality systems has an effect on management processes. It has described a strategic strategy that includes four fundamental features of controlling company processes. They contain knowledge about the processes, the process's owner, its value, and its ability to be modified.

In addition, the author utilized a variety of methods to collect data for comparison with data from other studies. He or she seeks a deeper comprehension of quality systems and corporate management processes. Methods such as interviews and direct observations provide relatively accurate firsthand knowledge. Various techniques, including descriptive and interpretive methods, have been used to analyze the data. Consequently, the researcher was able to discuss the topic of quality system in depth. The article's use of tables helps users visualize how companies receive certificates without following the requirements.

In addition, the author has studied numerous articles, allowing them to obtain a deeper understanding of quality management systems. In addition, he or she has presented practical consequences for quality management systems. This has helped business administrators realize that it is not the certification of quality systems that matters, but rather what is actually practiced within the companies.

However, the researcher's study is not based on any theoretical framework, despite the assertion that he or she has sufficient theoretical and conceptual knowledge of the topic. In actuality, according to the author, quality management systems are unrelated to improved process management. It is vital to note that business administrators do not focus on enhancing product quality through quality management systems because governments require them to do so.

The author has defined fundamental terms in relation to the subject at hand, so facilitating readers' comprehension. This article describes in detail the distinction between certified companies and those who adhere to the standards demanded of them. For instance, it has been stated plainly that many managers have rendered their companies' systems obsolete by failing to implement what is required to be implemented. From the discussion of the findings, it is clear that the author has presented his or her recommendations for making quality management systems effective.

Relevant Implications

It is essential to clarify that all stakeholders should have access to and be able to acquire information regarding quality systems in order to understand their obligations. In addition, businesses should employ information systems that support processes rather than specific functional units. In addition, senior managers should designate particular spaces for the installation of information systems accessible to all personnel. In addition, it is crucial that they integrate business and process objectives, since this would enhance responsibility. The executives should establish targets that are attainable and reasonable. In addition, the goals should be concise and time-bound for employees to comprehend them.

Every stakeholder, including system owners, must be responsible for promoting transparency and accountability. Arguably, quality managers are responsible for giving training and education first priority. This is due to the fact that many businesses lack knowledge of quality management systems. This is vital for establishing processes that facilitate the coordination of company activity. Consequently, firms would be exemplified by outstanding performance results. Despite the expectation that businesses are process-oriented, the author has seen that this is not the case in many instances.

Academic Reflections

The article's author has made a significant contribution by shedding light on the role of quality systems in corporate management procedures. According to the author, process management is more significant than certification. This argument is based on the fact that many organizations with certificates for offering high-quality goods and services have not been utilizing quality management systems. Many of them are unfamiliar with quality management systems.

This is especially true in organizations where employees and managers believe they should be functionally oriented rather than process-driven. Corruption is prevalent in the process of gaining credentials, as evidenced by the article. This is demonstrated by the fact that certified companies do not satisfy the required standards. Another lesson that can be drawn from this article is the necessity of training all stakeholders on how a system operates so that they can work efficiently and fulfill their responsibilities successfully.

However, there is a disparity between how activities are depicted to be performed and how they are actually performed, despite the fact that they have been awarded certificates indicating that they have achieved international standards. In addition, there ought to be a criterion for the acquisition of quality systems.

This will promote accountability and openness in the delivery of products and services. Notably, process owners are identified in theory, but they do not exist in practice. According to the author, numerous businesses have demonstrated that they prioritize functional duties over process ownership. Lastly, it is recommended that businesses evaluate their processes. This will allow them to compare and contrast themselves with other businesses, resulting in the delivery of superior goods and services.

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GlaxoSmithKline: Finance For Decision-Making Assessment Essay Help Free

Introduction

GlaxoSmithKline (GSK) is a renowned developer, manufacturer, and discoverer of healthcare products. The corporation operates in three sectors: pharmaceutical, vaccine, and consumer goods (GSK, 2020a). The company's intellectual property is highly valuable because research and development (R&D) of pharmaceutical items is a substantial aspect of its business. Together with Sanofi, the business is presently engaged in the creation and development of multiple COVID-19 vaccines (GSK, 2020b). GSK utilizes their revolutionary vaccine adjuvant technology, which is a chemical that enhances the efficacy of vaccinations and helps minimize the amount of vaccine protein required per dosage, which is critical during a pandemic (GSK, 2020b). Thus, the company views innovation as its competitive advantage over its rivals.

GSK employs 99 thousand individuals in 95 countries worldwide (GSK, 2020a). In 2019, the company produced 2,3 billion packs of pharmaceuticals, 701 million doses of vaccines, and 4,2 billion consumer healthcare items (GSK, 2020a). These items contributed to the generation of £6,961 in operational profit, a considerable increase over the £5,481 achieved in 2018. (GSK, 2020a). The dividend payment of £80 per share demonstrates the company's commitment to providing returns to shareholders (GSK, 2020a).

The purpose of this study is to analyze the current standing of the organization in three important development areas. First, profitability, efficiency, liquidity, and financial gearing are analyzed using financial statements from the preceding five years. Using NPV, IRR, and ENPV, the paper compares and contrasts two investment options to determine the optimal scenario. Thirdly, the study assesses an acquisition opportunity critically by analyzing the potential benefits, risks, and payment method. The paper concludes with a summary of significant results.

Financial Performance

The primary purpose of this report is to evaluate GSK's financial performance in order to assist the firm in making future financial decisions. Financial reports are the primary source of information for financial analysis, as they provide all the necessary data in a structured format. Financial statements can be evaluated both vertically (against competitors) and laterally (against other companies) (against the performance of the company in previous years). Profitability, efficiency, liquidity, financial gearing, and investment are examined as part of the performance's five major dimensions (Andjelic and Vesic, 2017). This study will focus on four of the criteria for evaluating GSK's financial performance. The ratio analysis findings are provided in Appendix A. All ratio calculation data was collected from GSK's annual reports (GSK, 2016; GSK, 2018; GSK, 2020a). Three competitors, including Johnson & Johnson (J&J), MERCK, and Abbott Laboratories, were used to evaluate the performance. These companies' financial information was collected from Yahoo Finance.

Profitability

Profitability is the capacity of a business to create income from its revenues, assets, shareholder equity, and operating activities. In other words, profitability analysis illustrates how well a company uses its resources to create shareholder value (Husain and Sunardi, 2020). Various ratios, including Return on Assets (ROA), Return on Equity (ROE), and profit margin ratios, can be used to evaluate the profitability of a business. This report will utilize the net profit margin (NPM) ratio as the primary profitability statistic.

NPM represents the proportion of the company's net profit to its total revenues. Ultimately, a high percentage of NPM indicates that the company's processes are efficient. According to Kusmayadi, Rahman, and Abdullah (2020), NPM and stock return have a substantial positive link. Thus, increased NPM promotes investor confidence and relations. NPM is computed using the formula below: Net Profit Margin = Net Profit / Total Revenues

In 2019, GSK's NPM was 13.8%, which is greater than in 2018, 2017, and 2016 (11.8%, 5.1%, and 3.8%, respectively). However, the ratio is significantly lower than the 35.2% NPM recorded in 2015. Figure 1 illustrates the general trend in NPM.

Figure 1: The net profit margin for GSK

As may be seen in Figure 1, GSK's NPM decreased dramatically in 2016. Consequently, other operating income decreased significantly from £7,715 million to – £3,405 million. The rise in revenue was attributable to the commencement of GSK's merger with Pfizer and Shionogi (GSK, 2017). Since 2016, GSK has paid preferred dividends to Pfizer and Shionogi, which might be regarded a contribution towards liabilities (GSK, 2017). Since 2016, the company's NPM has been continuously increasing, which is indicative of its consistent profitability. In comparison to its rivals, GSK trails J&J (0.207) and MERCK (0.246), but leads Abbott (0.116). Thus, despite the fact that GSK has showed a substantial increase in terms of profitability, several difficulties persist.

Efficiency

Efficiency ratios assist measure a company's short-term ability to manage its assets and obligations (Hays, De Lurgio, and Gilbert, 2009). All efficiency ratios quantify the time required to create cash. Inventory turnover, asset turnover, and receivables turnover are typical efficiency ratios (Hays, De Lurgio, and Gilbert, 2009). This paper will concentrate on the analysis of the asset turnover ratio (ATR).

ATR illustrates how efficiently a company is generating cash from its assets (Sunjoko and Arilyn, 2016). Specifically, the ratio counts the amount of money earned per pound of assets. High ATR indicates that the company effectively manages its assets (Sunjoko and Arilyn, 2016). ATR is computed with the formula ATR = Total REvenues / Average Assets.

Average Assets = Starting Assets + Closing Assets/2

In terms of ATR, Current GKS has maintained a stable performance over the past five years. The company's ATR fluctuated between 0.49 and 0.54, which is not a substantial range. This indicates that there have been no significant changes in GSK's efficiency during the past year, indicating stability. The trend of GSK's ATR is displayed in Figure 2 below. GSK's efficiency performance is equivalent to those of the three selected competitors. Abbott Laboratories (ATR= 0.472) is lagging behind J&J (ATR= 0.528) and MERCK (ATR= 0.561).

Figure 2. GSK's Asset Turnover Liquidity

Liquidity ratios assist in determining a debtor's capacity to meet its obligations without raising additional money (Saleem and Rehman, 2011). This report will evaluate the company's liquidity using the current ratio, which is derived using the following formula: Current Ratio equals Current Assets divided by Current Liabilities.

In 2016 and 2017, the company's ability to pay down its existing debt decreased significantly, as demonstrated by the calculations (see Figure 3 below). Even though GSK's liquidity has been continuously rising since 2017, the ratio is still below 1, indicating that the business must raise external capital to service its debts. All three competitors found had current ratios greater than 1, indicating that GSP is underperforming in terms of liquidity. This is due to a fall in net income and an increase in liabilities as a result of the merger with Pfizer and Shionogi, which is discussed in Section 2.1 of this report.

Figure 3: Current Ratio Financial Gearing for GSK

Typically, financial gearing is assessed by the debt-to-equity ratio (D/E). It indicates the extent to which the company is financed by lenders as opposed to shareholders. Moreover, it illustrates how aggressively the corporation uses debt to finance its assets. Calculate the ratio by dividing total debt by total equity. A high D/E ratio is typically correlated with heightened sensitivity to external variables, such as economic recessions. In 2019, GSK's D/E ratio declined significantly, indicating that the corporation became less susceptible to changes in its external environment. Figure 4 demonstrates the trends in the D/E ratio. In 2019, the company's D/E ratio was much greater than its competitors'.

Figure 3: The D/E Ratio of GSK

Investment Appraisal

Available Options

The second purpose of this paper is to make suggestions for a £40 million project investment. It is essential to analyze the current needs of the pharmaceutical, vaccine, and consumer product businesses in order to make solutions. Demand on the pharmaceutical market is currently dominated by the need to combat the COVID-19 pandemic. Particularly, Mahase (2020) emphasizes that dexamethasone output must be raised to suit worldwide demand. The World Health Organization believes dexamethasone to be a medicine that can save the lives of coronavirus patients (Mahase, 2020). Therefore, the first alternative is to invest £40 million in increasing the company's capacity to manufacture dexamethasone. The second option was to invest in the production of coronavirus vaccines, which are likewise anticipated to be in high demand. Two possibilities must be reviewed before recommendations can be made.

IRR and NPV

There are two discounted cash flow methodologies that can be used to assess the profitability of a project. These are net present value (NPV) and the internal rate of return (IRR). The net present value (NPV) is the difference between the present values of all inflows and outflows (Cheng, Kite, and Radtke, 1994). The method determines the amount of cash projected to be generated by an investment over a specified time period (Cheng, Kite, and Radtke, 1994). Calculating NPV necessitates precise forecasts of all revenues and expenditures, as well as the discount rate. IRR is closely related to NPV approaches, as its objective is to compute the discount rate required to make NPV equal to zero. If the IRR is less than the current discount rate, the project is unprofitable.

Both approaches have advantages and disadvantages. As a ratio rather than an absolute value, IRR can be used to compare assets of varying quality (Cheng, Kite, and Radtke, 1994). However, the use of IRR may prohibit a corporation from selecting the most lucrative project. NPV can assist identify the most profitable project in absolute terms, but it cannot be used to compare large and small investments (Cheng, Kite, and Radtke, 1994). In the given scenario, it is necessary to evaluate the optimal investment option for £30 million, hence NPV is the most appropriate evaluation method.

Making use of NPV and IRR

The present price of dexamethasone is approximately £5, indicating that demand must be strong in the next years. In spite of this, it is anticipated that GSK will be able to sell 2.5 million units yearly over the next five years due to the rising demand for pharmaceuticals. The investment is anticipated to have a five-year NPV of £5,060,000 and an IRR of 17%, which is greater than the anticipated discount rate of 12%. Appendix C presents the computations for the first choice (see Outcome 2).

In 2021, GSK can sell up to 800 thousand doses of the coronavirus vaccine under the second option. However, it is anticipated that demand for the vaccination would decline with time. The vaccinations are anticipated to cost approximately £25 per dosage, resulting in an expected NPV of £8,107,00 with an IRR of 22%, which is greater than the current discount rate of 12%. Appendix D presents the computations for the first choice (see Outcome 2).

Evaluation of Risk and Final Recommendations

In capital budgeting, risk assessment is essential since it enables the selection of the most suitable investment option, taking into account numerous criteria. All risks can be categorized as project, enterprise, and environmental hazards. Common project concerns are the force of suppliers, market volatility, and production (Atrill and McLaney, 2015). Uncertainty over a company's evaluation of its strength, strategy, and employees is correlated with such evaluations (Atrill and McLaney, 2015). Environmental uncertainties take macroeconomics, government policy, and technology into consideration (Atrill and McLaney, 2015). In the first alternative, the dangers connected with demand are the greatest because equivalent medications can be made. Nevertheless, compared to the prior need for dexamethasone, its dangers are quite minimal. The ability of the corporation to manufacture the vaccine is the greatest source of uncertainty regarding the second alternative, which may result in the investment being lost almost all.

Utilizing expected NPV (ENPV) measures is the optimal method for deciding. Appendix E provides the calculations for ENPV. Option 1 should be chosen because its ENPV (£5,510,300) is greater than Option 2's ENPV (-£1,413,010).

Acquisition and Merger Suggestions

Mergers and acquisitions (M&A) are complex operations fraught with a variety of dangers. Nevertheless, despite the intricacy of the process, GSK invested about £11 billion in twelve acquisitions of varying forms (GSK, 2020a). The most recent M&A transaction was finalized in 2018, when Tesaro was acquired for about £4 billion (GSK, 2020a). During the COVID-19 pandemic, GSK can expand its market share, effectiveness, and revenue through both vertical and horizontal acquisitions.

Justification for Selecting the Target

The new coronavirus infection is the primary issue that pharmaceutical companies seek to combat at now. Specifically, the globe has entered a vital phase in the development of a COVID-19 vaccine. The Guardian notes that the majority of vaccination clinical studies are nearing completion with the third phase (Boseley, 2020). GSK has a strong probability of achieving success with the development of the vaccine (Boseley, 2020). Additionally, it has the ability to produce the greatest number of doses thanks to its innovative adjuvant technology, which enables the use of less ingredients by enhancing the body's immune response to the vaccine (GSK, 2020a). However, the corporation may face the issue of insufficient production capacity to fulfill present demand.

GSK's vaccine manufacturing capacity must be augmented by an acquisition. According to Horner (2020), India has the potential to become the worldwide access point for COVID-19 vaccines because of its huge production capacity and low production costs. Currently, seven companies in the United States are competing to create the vaccine (Horner, 2020). After evaluating all seven firms, Aurobindo Pharma appears to be the most promising acquisition possibility. The primary advantage of the company is that it has 25 facilities with a perfectly coordinated supply chain that can increase GSK's COVID-19 production potential (Aurobindo Pharma, 2020). GSK's mission is to help people do more, feel better, and live longer; the acquisition of Aurobindo Pharma contributes to this mission (GSK, 2020a). The acquisition is consistent with GSK's long-term objective to provide as many people as possible with healthcare goods. Furthermore, Aurobindo Pharma shares the same values of innovation, performance, and reliability (Aurobindo Pharma, 2020; GSK, 2020a). Therefore, Aurobindo Pharma appears to be the most promising candidate for possible M&A agreements.

Expected Profits

It is anticipated that the acquisition of Aurobindo Pharma will result in synergistic benefits for both firms, as it has the ability to reduce costs and enhance sales. The synergistic benefits will consist of:

The primary benefit for both companies will be an improved opportunity to develop and distribute a functional COVID-19 vaccine ahead of the competition. As organizations employ comparable resources, resource allocation will become more effective.

Accounting: Financial Statement Analysis Essay Help Free

Table of Contents
Introduction Body Conclusion Bibliography

Introduction

According to one definition, a company's financial statements are crucial. They should give financial information that is relevant to current and prospective investors, creditors, and other users in making investment, credit, and similar decisions." (Kam, 2000) In the meanwhile, they are essential to decision makers, who utilize the financial information they provide to evaluate the firm's and their own performance.

Consequently, erroneous financial statements can mislead a company's financial situation and operating outcomes. As one of the accounting methods, the cash basis of accounting is contested as to whether it is correct and can be used to prepare financial statements or whether it is flawed and may mislead decision makers' understanding of the financial statements. The cash basis of accounting is flawed, and financial statements prepared on a cash basis of accounting can misrepresent the depiction of a company's financial situation and operating results.

Main body

In order to remain competitive within the framework of the market mechanism and to progress its functions, every organization strives to maintain its market dominance and maximize its profitability through a series of operations. Managers must be knowledgeable with the enterprise's overall performance in order to establish an effective strategic plan for the growth and success of their organizations. Thus, it is vital to define the economic capabilities of a company in order to enable first-line management to determine the business's operational goals and objectives.

Certain financial statements, such as the Balance Sheet, Trial Balance, Profit and Loss Account, Ratios, etc., have evolved in an effort to assess an organization in financial terms in order to present managers with appropriate information regarding its economic evolution. Currently, businesses employ two types of accounting: cash basis accounting and accrual basis accounting. The cash basis accounting approach is based on actual cash flow.

In this system, expenses are recorded when paid and money is recorded when received. Therefore, expenses are not reflected in the financial accounts until they have been paid. With accrual accounting, revenue is recorded when earned, not when paid.

The importance of financial information, particularly income and expenses, to a corporation cannot be overstated. The company's net income, which may be thought of as the difference between income and expenses, is directly related to its profit and loss. Consequently, the reporting of a company's profit and loss will vary depending on the accounting technique used to prepare its financial statements. Moreover, it will result in a variety of subsequent actions based on the diverse financial facts received by decision makers. In comparison to the accrual basis technique of accounting, the cash basis method will actually misrepresent a company's financial status.

As detailed by J.H.White in "Excerpt from Shirt-Sleeves Bookkeeping: The Problem with Cash Basis Accounting" (White, J, H, 1996), for some businesses, cash basis accounting methods create a condition that leads to bankruptcy while simultaneously reporting a profit. Suppose a corporation has a project that spans multiple years. Its income is obtained ahead to the completion of the project, whilst its principal expenses are paid after the project has been completed. In other words, the corporation receives funds before paying its expenses in a given year. The difference between the money received and the money spent is the profit.

A corporation using Cash Basis Accounting System may provide a profit-generating financial statement at the end of the year. The best way to lower a company's tax liability is to reduce its earnings by spending the money.

This money is actually a prepayment for the primary expense, which will not be incurred until the following year. But it is spent on other things, and the spending is out of control because there is so much money available. When the primary bill arrives in about a year, there is little or no money left over from the project to pay for it. The only option is to use funds from new initiatives to cover the expenses of older ones. Profits appear to be high on a company's financial statement if there are numerous jobs and large quantities of money moving through it. It appears that the corporation has made a substantial profit. In such a scenario, the business may slow and no new positions may be created.

Consequently, the only thing left are a multitude of outstanding invoices. In accordance with the cash basis accounting system, unpaid expenses are not recognized in the financial statements. Therefore, the financial statement will reflect the company's profitability rather than its insolvency.

Financial statements generated on a cash foundation of accounting may have negative impacts not only on managers, who may be internal users, but also on external users, including investors and creditors. Profitability is the capacity of a business to generate income. The most significant indicator of profitability is net income. Investors and creditors are extremely interested in evaluating the current and future profitability of a company. (Woelfel, 1994)

So that they can obtain information regarding the expected return and risk associated with their investments and loans. In a sense, the cash basis method of accounting fails to offer key financial information regarding the level of profitability of a corporation, even if the business is profitable or not. All financial information is recorded, but neither income nor expenses are generated.

Indeed, the efficient management of a firm is dependent on its actual financial situation, which derives from the fact that the business actually generates revenue. A firm generates income as a result of its performance in an economic trade. This indicates that a business enters into a contract to exchange a performance for a consideration, which can be thought of as money. When the performance is complete, the entity is entitled to receive the cash; it has earned it as income. At that point, only revenue can be recognized.

In addition, there are four sorts of timing discrepancies in recognizing income and expenses that Cash Basis Accounting cannot discern. The following are:

income is recorded prior to cash receipts The expense is recorded prior to payment of cash. After cash is received, revenue is recorded. The expense is recorded after payment of cash (Kam, 2000)

In both Target's corporate conduct guide and Wal-proxy Mart's statement, the significance of control programs and effective internal control measures is emphasized. According to the New York Stock Exchange's definitions, Wal-Mart provides explicit parameters for who is eligible to serve on the auditing committee. In addition, the functions of the auditing committee are specified. Walmart has established a segregation of duties method that divides the tasks of account keeping among many departments and stages (Albrecht et al, 2005).

In addition, Target employs an auditing committee and a separation of roles (Albrecht et al, 2005). Target explains the significance of maintaining accurate books, records, and accounts to guarantee that accounting objectives are reached and the company's financial integrity is maintained. Target discusses their commitment to comply with all laws and regulations in their business behavior guide. Target agrees to provide the Securities and Exchange Commission and the New York Stock Exchange with accurate reports.

Act of Sarbanes-Oxley The Sarbanes-Oxley Act of 2002 stipulates, among other things, that every company's annual report must include a "internal control report" that details the management's responsibility for establishing and maintaining an adequate internal control structure and procedures for financial reporting, as well as an evaluation of the effectiveness of the internal control structure. As a result of illicit political campaign contributions, business fraud, and countless illegal payments to foreign officials for business favors. The need for these statutes was necessitated by the fact that firms falsified data and did not maintain proper financial records. (Gaffikin, 2002)

According to Weygandt & Kieso (2005), the primary purpose of the income statement is to report the profitability or loss of the business for a given time period. On the income statement, revenues appear first. Following the revenues are the expenses. The income statement is beneficial to managers because it allows them to determine whether or not the business was profitable. Investors also benefit from the income statement. Through the income statement, investors can determine whether or not the investment is lucrative.

Conclusion

The financial statements serve both internal and external users well. According to Weygandt and Kieso (2005), the internal users are the managers who not only plan but also organize and administer the firm. A manager must have answers to questions in order to run a successful firm. The management must go to the financial statements in order to obtain the answers. The financial statements will provide the information necessary for future financial forecasting. According to Weygandt and Kieso (2005), external users include investors or owners and creditors.

The financial statements are utilized by the investors to determine whether to purchase, hold, or sell the stock. Creditors, including suppliers and lenders, utilize the financial information provided in the financial statements to assess all the risks associated with providing money to or extending credit to the company.

References

Principles of Accounting, 2002 Edition, Pearson Education Australia, Australia, Gaffikin, M.

Kam, 2000, Second Edition of Accounting Theory, John Wiley & Sons, New York.

White, J. H., "Mind & Money" (Seattle, WA: 1996).

Financial Statement Analysis: The Investor Self-Study Guide to Interpreting and Analyzing Financial Statements, Revised Edition, published by Probus Publishing Company in Canada in 1994.

Albrecht, W. S., J. D. Stice, and M. R. Swain (2005). The concepts and applications of accounting. In Chapter 6: Ensuring the Integrity of Financial Information. South-Western.

Weygandt, J., Kieso, D., and Kimmel, P. (2005). Statistical Accounting (5th ed.). 22-25, 110-14. Hoboken, NJ: John Wiley & Sons, Inc.

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Knowledge Management Plan For Kamuga Sportswear Inc. Essay Help Free

Introduction

In today's competitive environment, firms are changing their reliance from tangible to intangible assets. For businesses to remain competitive, innovation must now be ongoing. This is the only way for organizations to distinguish themselves from competitors. Innovation is impossible until an organization manages its information base. Organizations must change their business strategies and organizational structure in order to manage their organizational knowledge base (Collison & Parcell, 2001). In addition, a company must devise methods for maximizing the potential of its diverse people resources. In addition, it has been discovered that ensuring that all organizational departments collaborate towards the achievement of organizational goals increases an organization's competitive edge. This can only be accomplished if a business has the necessary systems in place to guarantee that knowledge is shared across all divisions.

Employees who share their expertise and experiences across the organization can help a business outperform its competitors in the marketplace. The organizational management team can support this by developing a plan for managing knowledge. In this context, "knowledge management" refers to the process of employing organizational joint expertise, exchanging organizational information, staff skills, and facts to guarantee that an organization provides high-quality products or services and satisfies the needs of all its stakeholders (Davenport, De Long & Beers 1998).

Knowledge management is proving to be the only means for firms to withstand the current global commercial competition. There is a need for every company organization, both domestic and foreign, to develop a knowledge management plan that will enable them to maximize the potential of their people resources and accessible technology (Daveau 2000). In this regard, the purpose of this study is to develop a knowledge management plan for Kamuga Sportswear Inc., a multinational sportswear manufacturer and retailer.

Problems confronting the company

Kamuga Sporting Inc. is a worldwide company that produces and sells a variety of sportswear items. The company has 80 international locations. The company's objective is to be the market leader in the sportswear business. This is accomplished not by controlling the business, but by developing high-quality products that suit all the needs of athletes and boosting the industry's profitability. As an international corporation, Kamuga Sportswear Inc. has attracted a diversified workforce and leverages technology to aid in corporate administration. Through the use of technology, the company ensures that all of its branches have uniform operations.

Despite this, the corporation faces various obstacles in its efforts to manage its knowledge base. The organization has not been able to effectively utilize its diversified human resources. This has hindered its ability to develop new products. The company's practice of separating its personnel depending on employees' backgrounds is its greatest weakness. There is no cultural autonomy in the organization because all employees must adhere to predetermined operating procedures. This makes it difficult for the company's different people resources to maximize their potential, inhibiting the development of new innovations.

In addition to failing to capitalize on the potential of its diverse workforce, Kamuga Sportswear Inc. has a subpar reward structure that inhibits employees from sharing their knowledge and skills. Typically, an incentive system is designed to encourage employee commitment to organizational objectives. Those who demonstrate dedication are rewarded, inspiring others to work harder. The company Kamuga Sportswear Inc. has a system that rewards its employees for their hard work. Despite the fact that the system encourages people to work more, it has hindered a culture of knowledge and experience sharing. No one in the firm is willing to share their knowledge because it would be utilized for others' benefit at their expense. This has made it difficult for the corporation to come up with new breakthroughs, as individuals with fresh ideas hold back because they believe they must share the benefits of their innovations with other employees.

When it comes to enhancing organizational performance, technology plays a crucial role. Through the use of technology, a business is able to detect existing innovations as well as develop its own, allowing it to remain competitive. In addition, organizations utilize technology to communicate information about how to improve performance. However, Kamuga Sportswear Inc.'s operations have not benefited significantly from the implementation of technology. Instead of allowing its multiple branches to use the technology to make sporty apparel that meets the needs of its respective target markets, the corporation has developed a standardized method of operations and apparel production that is shared by all of its branches. This has inhibited cultural autonomy inside the corporation, making it difficult for the various branches to successfully harness the potentials of their human resources and completely exploit the target market in their respective nations.

The company hires its employees with the assistance of a staffing agency. The agency is responsible for hiring and training employees for Kamuga Sportswear Inc., who are then assigned to various company departments. Sometimes, when deployed employees arrive at the organization, they find a completely different environment. The organization has undergone significant transformation without upgrading its recruiting agency. Therefore, the agency utilizes training manuals that were supplied to it a decade ago. The corporation has automated the majority of its operations and developed new methods for producing its products. Therefore, the organization organizes on-the-job training to equip new hires with the necessary skills to work in their respective fields of expertise.

Recommendations on knowledge management for the company

In order to solve the highlighted difficulties facing the organization, the management team must develop effective processes for managing its knowledge base. The team must form a knowledge management committee that will be responsible for developing a feasible implementation plan (Nonak & Takeuchi 1995). Working together with the management team of the organization, the committee should develop a structure that will assist it in developing knowledge management efforts. The committee is tasked with developing a knowledge management framework that encompasses all factors that assist an organization's value addition (Zack 1999). These are individuals, processes, and technologies. The framework should allow for both the generation of original knowledge and the dissemination of introduced and existing knowledge.

Vision of Kamuga Sportswear Inc. is to be the leader in the sportswear sector. This cannot be accomplished unless all personnel within the organization possess the knowledge necessary for the manufacturing and delivery of excellent products. In developing its framework, the committee should consider some of the means through which the organization might realize its objective. It must investigate some of the potential opportunities for generating new knowledge. This does not suggest that the company lacks knowledge. In addition to searching for new knowledge, the committee must also search for ways to leverage its existing expertise in order to increase the company's competitiveness.

Currently, sports are more of a business than a pastime. People profit immensely by participating in various sports. This means that the demand for athletic apparel will increase over time. Additionally, additional sports will be discovered. For sportswear firms to be competitive, they must devise production techniques that enable them to create apparel that is not only of great quality but also pleasant for its customers. Due to the fact that nearly every geographical region has a preferred sport, it will be necessary for corporations to create sportswear items that cater to the many geographical locales. Therefore, Kamuga Sportswear Inc. should utilize its diversified workforce, technology, employment agency, and reward system to equip its staff with the necessary knowledge.

Managing heterogeneity

Any organization's future growth depends on its capacity to capitalize on the knowledge and skills of its diverse personnel. A varied workforce provides a reservoir of abilities and innovations. One of the primary reasons why firms fail to successfully leverage the potential of a diverse workforce is their propensity to stereotype employees (Tounkara 2009). The workforce is categorized by background. The identical situation pertains to Kamuga Sportswear Inc. The corporation has assigned its employees to different divisions depending on their diversity profiles. This company's managers employ ethnocentric ideals in their management. They feel that the company's established operational methods are the finest and are unwilling to accept outside operational innovations. Consequently, the organization lacks cultural autonomy. The management is adamant on adopting these procedures despite the existence of a variety of operational techniques that would enable the individual branches improve their competitive advantage based on their location.

For the organization to effectively manage the expertise and experience of its varied staff, it must first train its managers on techniques for strengthening and encouraging workplace diversity. "Think global, act local" must be implemented by managers in order to increase corporate competitive advantage (The Knowledge Company 2005). In spite of the company's expertise in the sportswear sector, managers in the various branches must consider the local demands of their clients when designing and marketing items.

It is difficult to make a clear difference between workplace diversity categories. Instead than separating individuals depending on their backgrounds, Kamuga Sportswear Inc. should ensure diversity at all operational levels. Through this, the management team and employees will share expertise on organizational operations-related matters. For instance, by ensuring that the sales crew is diverse, the company will successfully collect market data and be able to develop items that satisfy customer demands. In addition, the corporation should move from adopting ethnocentric to geocentric philosophies. This will allow employees to contribute their different skill sets to the enhancement of organizational operations.

With enterprises changing from exploitation of tangible assets to a knowledge-based economy, Kamuga Sportswear Inc. must arrange its employees strategically based on their knowledge and experience (Davenport & Prusak 1998). Different employees may have expertise in distinct domains, depending on their respective backgrounds. Therefore, the corporation should identify the skills of its numerous employees and place them in the most pertinent domains (Donoghue, Harris & Weitzman 2010). In addition, the organization should implement a work rotation culture. This will aid in equipping its staff with abilities in various operational areas, hence reducing the costs involved with hiring new personnel for each specialized field.

Rewarding system

Rewarding systems are utilized to motivate personnel and cultivate organizational commitment. Different organizations have distinct incentive structures. Occasionally, an incentive system may hinder or promote the improvement of organizational performance. For instance, Kamuga Sportswear Inc.'s reward system has not assisted company in achieving its goals. The company's reward system encourages employees to be compensated depending on their performance. This has utterly discouraged teamwork in the organization, as every person strives to have his or her own contribution recognized and rewarded. Therefore, employees are reluctant to share their knowledge for fear that others would use the opportunity to outperform them and be rewarded at their expense. The organization must ensure that all employees trust one another in order for them to collaborate towards a common goal. Given the current level of individualism inside the organization, it is difficult to efficiently manage and distribute the employees' expertise.

It is essential that the management team of the organization grasp the causes of the challenges that impede information sharing. The current reward structure is the greatest impediment to information sharing. To ensure that employees freely share their expertise without worry that some would benefit at the expense of others, the business must devise a reward structure that is advantageous to all employees (Ramalingam 2005). Instead of compensating individuals based on their individual successes, the company should implement a gain-sharing model that ensures all employees are paid if the company performs well. This will make it difficult for employees to determine their contribution level, so diminishing individualism and fostering teamwork.

Technology

Virtually every firm is currently integrating technology into its management and operations. This aids in reducing operating expenses and improving organizational effectiveness. However, the technology must be adaptable to accommodate forthcoming changes in the organization (Hahn & Suramani 2000). Despite employing cutting-edge technology to operate its business, Kamuga Sportswear Inc. has not reaped the full benefits of the technology since it has stifled creativity within the company. This technology has prompted administrators of many divisions to employ ethnocentric principles in their day-to-day operations. The company has standardized its operational procedures, which are adhered to by all of its branches. Therefore, personnel with alternative manufacturing skills for sports products that match the needs of local markets have been discouraged from sharing their expertise. Following the stated procedures has occasionally resulted in the manufacture of sportswear that is not in high demand.

In addition to adopting a technology that is universal across all of its global branches, the corporation must also make the technology adaptable. It should allow for modifications in areas that particular branches see necessary to improve performance. Every geographic region has a preferred sport. Consequently, the company's various sporting items are not equally in demand in all regions. Knowledge management will be facilitated by allowing techniques for making and marketing sportswear on different markets to be modified. For example, the sales staff in a particular region will undertake a detailed market analysis to determine the tastes and preferences of potential customers. This information can then be relayed to producers, ensuring that they produce goods that fit the specified taste and desire (Hall 2001). The current situation discourages innovation since even after identifying customers’ preferences; it is difficult to change the established operational procedures.

The company needs to ensure that its system of operations is designed in a way that different departments within a branch will share information on matters affecting their operations without

A Feasible Financial Solution For Natasha Kingery Essay Help Free

Currently, humanity faces a multitude of difficulties. Education is the most important factor for humans. There are numerous reasons why investing in education is advantageous. The first argument is that education allows people to maximize the utilization of their intellectual potential. The second reason is that education is one of the guarantors of stability in life, especially when modern business issues in the world are considered. In addition, education is one of the means by which people's quality of life can be enhanced.

Numerous individuals with prior education seek for new ways to enhance it, and as a result pursue further education. Investing in education is highly profitable but also a highly dangerous endeavor.

The persuasive justifications for more education include the following. People with less than a ninth-grade education have an average salary of $16,252. Individuals with a Master's degree earn an average of $46,768 a year. The median incomes are $12,770 and $39,305. The difference in annual income is $30,516. (Palacios, 2004, p. 25) Therefore, investment in education yields a financial return and raises people's annual income.

Our research paper is based on information regarding 30-year-old Natasha Kingery. She intends to retire at age 65. She holds a Bachelor of Science in computer science and desires further education. Now that she is wavering between two educational programs, we should assist her in selecting one. (Berk and DeMarzo, 2007)

The circumstance is as follows: Natasha earns $38,000 year and anticipates annual growth of 3%. She acquired $75,000 from her aunt, but she cannot spend them immediately because she has invested them in 10-year Treasury bonds. She can either pursue certification in network design or return to school to earn an MBA. (Berk and DeMarzo, 2007).

Before recommending a course of action, we should analyze the profitability of these two possibilities. If Natasha picks the first choice, a certification in network design, her firm will automatically elevate her to Tier 3 field service representative (how she is as a Tier 2 field service representative). The income at this new level is $48,000, an increase of $10,000. The expectations are the same, 3% per year, based on her annual income growth. The curriculum costs $5,000 and takes one year of study. (Berk and DeMarzo, 2007).

The alternative option is an MBA. It will enable her to assume the management role at her current employer. She will be compensated $58k ($20k higher than her existing pay). The expectations are the same, 3% per year, based on her annual income growth. The curriculum costs $25,000 and takes three years of study. (Berk and DeMarzo, 2007)

After performing some calculations, we will present the reader with Natasha's annual income in 10 years, when she will have completed her education. If Natasha pursues a certification in network design, she will earn around $62,629 per year in ten years. In 10 years, the alternative will provide her with a yearly salary of $75,677. During computations, we assumed an annual growth rate of 3%. The difference is $13,048, which is significant when considering that the income will continue to increase by 3% annually.

In four years, Natasha will be able to recoup the money she spent on an MBA. If she decides to pursue a certification in network design, she will recoup her investment within five years. After conducting this research, it is possible to conclude that the MBA degree is a better financial investment because the financial return will be greater and the money spent on education will be returned more quickly.

The next part of our investigation is to determine, based on her income, what monthly payments she will be able to make if she decides to pursue an MBA. She will continue her schooling for three years. The annual income of Natasha is $38,000. Taking into account her 3% increase, her annual income will be $39,140 for one year, $40,314 for two years, and $41,524 for three years. Natasha has put $75,000 into 10-year Treasury bonds. We may determine Natasha's monthly closing yield or interest rate (Historical pricing for 10-year Treasury Bonds) from the table located in appendix 1.

Therefore, we may conclude that Natasha is able to allow payment of a debt by installments in three years, paying her tuition once a year when she receives investment dividends and supplying them with savings she is able to set aside each month from her salary. She may also sign a human capital contract that allows her to pay 10% of her income for numerous years, or until she is unable to pay a loan.

In conclusion, we followed Natasha's examples of investing in education: a certification in network design or an MBA degree. Both situations were appropriate, but the investment in an MBA degree is deemed more lucrative. Natasha will be required to study for three years and pay $25,000, but she will be able to obtain her money back more quickly, and the quality of her education will be higher, allowing her to improve her annual income.

Reference List

Berk, J., & DeMarzo, P. (2007). Corporate finance: Personalized edition. Cambridge: Pearson Education Historical 10-year Treasury Bond pricing Online. Web. Palacios, M. (2004) Investing in human capital: an approach to student funding based on the capital markets Presses of Cambridge University

First Appendix: Prices

Date Open High Low Close Average Voltage Adjustment Close*

May-09 3.17 3.39 3.11 3.17 0 3.17

Apr-09 2.66 3.17 2.63 3.12 0 3.12

Mar-09 2.96 3.04 2.46 2.68 0 2.68

Feb-09 2.83 3.05 2.63 3.04 0 3.04

Jan-09 2.20 2.86 2.16 2.84 0 2.84

Dec-08 2.88 2.89 2.04 2.24 0 2.24

Nov-08 3.94 3.96 2.93 2.96 0 2.96

Oct-08 3.75 4.11 3.40 3.97 0 3.97

Sep-08 3.85 3.90 3.25 3.83 0 3.83

Aug-08 3.94 4.09 3.76 3.81 0 3.81

Jul-08 3.94 4.17 3.77 3.98 0 3.98

Jun-08 4.03 4.32 3.86 3.98 0 3.98

May-08 3.75 4.14 3.68 4.05 0 4.05

Apr-08 3.49 3.89 3.43 3.76 0 3.76

Mar-08 3.56 3.70 3.29 3.43 0 3.43

Feb-08 3.65 3.96 3.53 3.53 0 3.53

Jan-08 4.03 4.05 3.28 3.64 0 3.64

Dec-07 3.94 4.28 3.84 4.03 0 4.03

Nov-07 4.45 4.46 3.85 3.97 0 3.97

Oct-07 4.58 4.72 4.31 4.47 0 4.47

Sep-07 4.51 4.70 4.30 4.58 0 4.58

Aug-07 4.73 4.89 4.50 4.54 0 4.54

Jul-07 5.03 5.20 4.74 4.77 0 4.77

Jun-07 4.90 5.32 4.87 5.03 0 5.03

May-07 4.62 4.92 4.60 4.89 0 4.89

Apr-07 4.64 4.78 4.61 4.63 0 4.63

Mar-07 4.52 4.67 4.47 4.65 0 4.65

Feb-07 4.81 4.87 4.51 4.55 0 4.55

Jan-07 4.66 4.91 4.58 4.83 0 4.83

Dec-06 4.48 4.72 4.40 4.71 0 4.71

Nov-06 4.61 4.74 4.46 4.46 0 4.46

Oct-06 4.65 4.85 4.56 4.61 0 4.61

Sep-06 4.72 4.85 4.53 4.63 0 4.63

Aug-06 5.00 5.02 4.73 4.73 0 4.73

* Closing price modified to reflect dividends and stock splits.

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Restaurant Management And Menu Development For A Festival Essay Help Free

Introduction

The Sydney festival is an example of the Worldwide Avant-Garde art exhibitions festival, which is a significant international event. In this situation, it is not just the festival itself that is essential, but also the festival experience in the locations where it is held. In accordance with the terms of the sponsorship agreement, a global hotel chain provides a location for the sale of food and beverages. Importantly, the offered outlet is the result of the hotel's marketing strategy, which is intended to be executed at the festival and draw media attention so that it can serve as advertising. Notably, the outlet itself would function as a type of art, as the food and beverage outlet would originate from an apparently typical shipping container. On the final day of the festival, the food and beverages would be placed in the container so that it could be reused for future festivals around the world. All of these activities illustrate the concept of using a shipping container as a structure for hospitality.

International Avant-Garde art exhibitions are held on international stages, where artists from all over the world display their work and view the work of others. In this instance, an example of this exhibition is the annual event held in New York City, which is significant not just because of the arts on display but also because of the festival experience. At this festival, various snacks and beverages were offered by a hotel company that had contracted with the festival organizers. In consideration of the fact that this was an international festival, the food and beverages were served from a shipping container with artistic outlets. It is important to highlight that the hotel firm that supplied the food and beverages had established marketing techniques, with the outlet focusing on the festival's ability to garner media attention. By doing so, they advertised the hotel's meals and beverages in the media, where they would be exposed to a large audience (Brown, 2002).

The daily menu for food and drink

A daily menu was designed for the duration of the event, beginning on the first day and ending on the final day. Accordingly, the pricing of all food and beverages on the menu were based on grocery rates. It is important to note that the foodservice operation in this hotel consisted of clients ordering and serving themselves. This hotel served the majority of its food and beverages during the lunch and supper hours. Regarding the menu, the following factors were considered: (Gordon & Brezinski, 1999).

Festival setting

It is important to highlight that this avant-garde festival was held by the coast, namely in a harbor. This was done to ensure that the ship carrying the shipping container would be strategically positioned to facilitate the delivery of food and beverages. In addition, the festival featured works of art from every country in the world, with each nation's works grouped together for easier viewing. In addition, the exhibition took place on a ship because it was an international festival and people from all corners of the globe traveled by water because it was the most cost-effective mode of transit. Notable is the fact that this exhibition spanned three days, during which people interacted and became acquainted with one another. Additionally, the event was opened on the first day by the president of the United States at approximately 8:00 a.m. It should be emphasized that the location of the hotel near the event made it simple for guests to order and serve themselves. This reduces the number of guests waiting to be served by the hotel's waitstaff. (January 2006)

In addition, each nation had adequate time to explain their arts and the opportunity to learn from those of other nations. On this premise, there was a food and beverage menu in every area of the hotel, which simplified food and beverage provision for the event. Additionally, each country's primary menu was strategically positioned so that it could be accessed by everyone from that country. It is important to highlight that all main types of food and beverages from all countries were accessible, ensuring that every participant from each nation was satisfied. In contrast, the food and beverage menu included both alcoholic and non-alcoholic beverages (Hayes & Ninemeier, 2003).

The demographics of a festival of avant-garde art

In general, the New York Avant-Garde arts festival was attended by a large number of people of all ages and genders from around the world. As the United States was the host nation, its population percentage of attendees was the largest, followed by the United Kingdom, China, Japan, and so on. North America had the biggest population percentage per continent, followed by Australia, Asia, Europe, Africa, and South America in that order. It should be noted that there were more young individuals than older people, and hence the majority of foods and beverages sold were those associated with youth. In terms of snacks and beverages, the arts festival appealed to all age groups, as all types of foods were provided (Brennan, 1972).

Based on the population statistics at the Avant Gerde art festival, it can be concluded that the majority of the consumed meals and beverages originated in North America. In addition, the majority of the consumed food and beverages were mostly for young people, such as alcoholic beverages, since their percentages exceeded those of the elderly (Breitfuss, 2006).

On the basis of efficient menu formulation, a restaurant's menu specifies the type of consumers who will frequent the establishment, as well as the required personnel skills, equipment, and number of transactions. To create a successful menu, the hotel during the festival analyzed customer numbers and averages required to reach their financial goals. In addition, the capacity limiting issues in this restaurant were addressed, including the number of available seats, the location, the number of working days and hours, and the type and size of available equipment. In addition, the hotel management examined food and restaurant reviews in newspapers in order to provide the highest quality. In addition, there was a positive evaluation of the trading area's prospects (Leiber, 2006).

Because of the limited cooking and service space available

The managers of the Avant Gerde arts festival imposed a regulation prohibiting the entry of unauthorized individuals inside the kitchen. In this instance, each consumer was expected to simply order food and then take a seat to eat. Regarding this, self-service was implemented so that each guest may order and receive his own food, as hotel staff was sufficient. It has been revealed that the hotel management chose to restrict client access to the kitchen in an effort to reduce kitchen congestion (Monkie, 2010).

It should be emphasized that the kitchen at the Avant Gerde arts festival was sufficiently sized to accommodate all of the food preparations that took place there. To ensure that no unauthorized individuals entered the kitchen, there were signs everywhere stating that only hotel employees were permitted to enter. In addition, the hotel administration recruited a security officer to monitor the kitchen entry during the festival. On the other side, the available serving space was meant to accommodate between 1,000 and 1,500 seated clients simultaneously. In this instance, festival-goers were able to eat at this hotel throughout their whole stay (Hayes & Ninemeier, 2003).

The wait time was minimized as a result of ample serving area, as even the staff was adequate and performed their duties professionally. Additionally, since every type of cuisine was accessible and there was sufficient serving space, the hotel attracted a large number of clients, resulting in a substantial profit. The menu revealed that there was a balanced selection of alcoholic and non-alcoholic beverages. Sodas and juices were cited as examples of non-alcoholic beverages, while examples of alcoholic beverages included beer and red wine. Notable is the fact that a standard recipe card was produced to identify the total number of attendees, the number of countries represented, the name of the dish, the reference source, the preparation time, and the time required for preparation. In addition, the card included cooking time in minutes, total preparation time, as well as cooking and component names. (Davis et al, 2008).

The marketing strategy of the hotel chain

As previously stated, this hotel corporation primarily advertised its meals and beverages through the media. As a means of advertising its food and beverages, the hotel company outlet in this instance chose a location at the festival from where it could draw media attention. In addition, there were advertisements for the hotel's food and beverages placed everywhere at the festival. As a result of this marketing technique, the hotel operator that catered to attendees of the avant-garde arts festival gained substantial profits. In this instance, the hotel administration was well-executed, causing consumers to return with their friends each time they ordered meals or beverages (Gordon & Brezinski, 1999).

Before creating the restaurant's menu, the hotel manager studied the available market and production limitations. In this instance, the hotel's food and beverages were produced locally, which contributed to their comparatively modest prices. From the menu, it can be determined that a list of drinks was provided for each country, as well as one for all countries, such as Coca-Cola Company soft drinks. It is essential to mention that a drink recipe was reviewed before to delivering it to clients (Leiber, 2006).

Conclusion

In conclusion, the hotel company that catered the Avant Gerde arts festival included the most popular foods and beverages from around the globe on their menu. Due to effective management and marketing, this hotel was able to generate substantial earnings from its food and beverages. It should be mentioned that when the festival concluded, the leftover food was returned to the container for use in the next world festival. It should be emphasized that this cuisine aligned with the hotel manager's goals. In this instance, this menu served to everyone who stayed at this hotel because the food and beverages were reasonably priced and contained roughly all the essential nutrients for a balanced diet. In this context, the pricing of the alcoholic and non-alcoholic drinks on the menu ranged from low to high. For instance, the selling price of food and beverages was 28% more than the cost of the materials, resulting in a profit margin.

Attachments

Examples of dishes and their relative pricing from the menu Main courses

Fish…………………………………………………………………… ………$ 20

Rice……………………………………………………………………. ………$ 10

Baked bread……………………………………………………………………$ 9

Beef stew…………………………………………………………………. …..$ 22

Chinese cuisine

……………………………………………………………………$ 25

23 dollars for one kilogram of barbecued meat

Meat and potatoes

…………………………………………………………………. $ 22

Sausages accompanied by mashed potatoes

………………………………………………$ 19

Cured meat and produce

……………………………………………………..

$ 20

Cheese……………………………………………………………………………..$ 13

Chicken full…………………………………………………………………………$ 26

Yorkshire pudding……………………………………………………………………………….$25

Sandwich……………………………………………………………………………. $ 13

Mixed and non-alcoholic beverages

Wine or cider was occasionally offered with meals such as roasted meat, totaling $ 43. In contrast, non-alcoholic beverages included apple, mango, and pineapple juices, coffee, tea, milk, sodas, and flavored water. Their pricing were listed below:

Rouge wine

…………………………………………………………………………$ 20

Cider………………………………………………………………………………. $ 20

An unopened bottle of fruit juice

………………………………………………………………$ 8

A cup of coffee……………………………………………………………………. $ 9

A cup of tea………………………………………………………………………..

$ 7

A cup of milk

……………………………………………………………………..

$ 8

Soda 500 ml

………………………………………………………………………..$ 16

Soda 300ml

…………………………………………………………………………$ 10

Example of the principal menu Main courses

Fish…………………………………………………………………… ………$ 20

Rice……………………………………………………………………. ………$ 10

Baked bread……………………………………………………………………$ 9

Beef stew…………………………………………………………………. …..$ 22

Chinese cuisine

……………………………………………………………………$ 25

23 dollars for one kilogram of barbecued meat

Meat and potatoes

…………………………………………………………………. $ 22

Sausages accompanied by mashed potatoes

………………………………………………$ 19

Cured meat and produce

……………………………………………………..

$ 20

Cheese……………………………………………………………………………..$ 13

Chicken full…………………………………………………………………………$ 26

Yorkshire pudding……………………………………………………………………………….$25

Sandwich……………………………………………………………………………. $ 13

Mixed and non-alcoholic beverages

Rouge wine

…………………………………………………………………………$ 20

Cider………………………………………………………………………………. $ 20

An unopened bottle of fruit juice

………………………………………………………………$ 8

A cup of coffee……………………………………………………………………. $ 9

A cup of tea………………………………………………………………………..

$ 7

A cup of milk

……………………………………………………………………..

$ 8

Soda 500 ml

………………………………………………………………………..$ 16

Soda 300ml

…………………………………………………………………………$ 10

Bibliography

Breitfuss, A. (2006), Learn the Seven Fatal Errors in Web Menu Design.

Brennan, D. (1972), New York Annual Avant-Garde, Web.

The Restaurant Managers Handbook: How to Set Up, Operate, and Manage a Financially Successful Food Service Operation, Third Edition, Atlantic Publishing Company, New Delhi, 2002.

The Food Service Professional Guide to Series by D. Brown. New Delhi: Atlantic Publishing Company, 2002.

Food and Beverage Management, 4th edition, New York: Butterworth-Heinemann Publishers, 2008. Davis, B., et al.

Gordon, R., and M. Brezinski, The Complete Restaurant Management Guide, M.E. Sharpe Publishers, New York, 1999.

Hayes, D., and J. Ninemeier, Hotel Operations Management, Prentice Hall Publishers, New York, 2003.

Leiber, S. (2006), Annual New York Avant-Garde, Web.

Merely, L. (2006), Restaurant Menu Pricing, Layout, and Description, Internet.

Monkie, G. (2010), Shipping Containers on the Internet.

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Human Resource Manager’ Professionalism Essay Help Free

Introduction

As it regulates the movement and storage of goods within a company, warehouse management is a crucial aspect of the supply chain. Receiving, storing, selecting, packing, and shipping requires skilled staff who are aware of their responsibilities. Each division of warehouse operation faces unique issues that call for a skilled and well-organized team to manage and enhance (Weil par. 2). Natural gas, coal, natural gas liquids, and crude oil must be effectively managed in petrochemical warehouses in order for their delivery to their designated places to be successful. Effective warehouse management enables the seamless flow of raw materials by optimizing the supply chain, accelerating time-to-market, achieving new cost efficiencies, and ensuring the integrity of the supply chain.

The Purpose of the Essay

The purpose of this essay is to describe methods for managing and enhancing warehouse operations. In addition, the discourse elaborates on the essential suggestions logistical departments might apply to increase warehouse productivity. Therefore, developing and managing a warehouse, as well as providing suggestions for raising the warehouse's production, are the primary goals of this essay.

In order to provide integrated logistics of superior product quality, quantity, and on-time delivery, warehouse management in the petrochemical industry must demonstrate dependability, accountability, and commitment. To achieve strong returns on investment, petrochemical businesses in the United States, Saudi Arabia, Canada, Nigeria, Western Europe, and Japan must improve their service delivery. In this industry, the majority of petrochemical companies outsource warehouse management services to major logistical firms such as CWT Limited and CARCABA GROUP in order to reduce costs and guarantee flawless service delivery, thereby boosting customer satisfaction and promoting sustainable development (Belcher par. 4).

Managers of warehouses must verify employee compliance with safety standards and procedures. A warehouse manager must simultaneously do invoice review, delivery coordination, storage organization, and employee schedule planning to ensure optimal management. Managing a warehouse containing so many petrochemical items is psychologically challenging, necessitating a collaborative effort to accomplish daily goals. The effectiveness of a warehouse is enhanced by well-organized stocks and established priorities, which reduces management expenses and ensures superior customer service.

In petrochemical firms, bin location management must be made more efficient in order to reduce the number of physical movements required to fulfill orders. Using the software to manage bins or locations in a warehouse improves the system's overall efficiency (Weil par. 7). In this regard, people responsible for order fulfillment have a natural evolution in the entre warehouse operation, saving time through their efficient services.

There is a need to verify the contents of each item to determine if they correspond to the description on the sales order, as sending erroneous numbers to clients can result in catastrophic losses. In addition, a petrochemical company may incur intangible costs if it loses consumer contact. Based on this analysis of the significance of a proper validation system, firms should not disregard this system while developing an effective warehouse management system.

The warehouse managers of petrochemical businesses must implement a warehouse management system that can generate significant returns on investment (ROI) for the companies (Belcher par. 6). In addition, efficient warehouse management should attempt to improve customer service and build a company's relationship with its customers by reducing shipping and packaging errors. A system that can document the contents of a certain box facilitates the validation of shipping contents against those of the required sales. In the event that a cargo is broken up, it is necessary to have superior customer service in order to do the necessary follow-ups. Managers must maintain a constant inventory flow in order to supply the correct products in the correct quantity and in excellent condition to customers.

Notably, in the entirety of warehouse management, efficiency and cost effectiveness are the most important features of warehouse operations. The entire management procedure begins with the structuring of goods within the warehouse to facilitate their location in the event of an emergency. Currently, the use of computer software contributes to the formation of an efficient and cost-effective warehouse management system that increases warehouse productivity and enhances staff performance. Utilizing internet spreadsheet apps allows petrochemical businesses to track all inventory and order new goods.

In order to prevent product mix-ups in the warehouse, warehouse managers of petrochemical businesses must guarantee that all inventories are labeled and identifiable. Clear identification of natural gas liquids, coal, and crude oil facilitates inventory flow and product delivery labeling ("3 Key Benefits of an Effective Warehouse Management System," par. 3). Any petrochemical firm that improves its warehouse management will increase system productivity.

A well-organized warehousing system would enhance the company's profits. In reality, the warehouse provides the following services to the business: the placement and recording of input and output data in order to maintain accurate records. Evidently, it provides very competent services to any multinational company, such INEOS Chemical Company, which operates in over fifty-one countries, including the United States. INEOS Chemical Company's core activity is the purchase and selling of petrochemical products.

Certainly, the most valuable services, such as trade and sales services, have always been the result of the company's clearance management unit, which ensures enhancements in activities such as purchasing and marketing (Weil par. 8). Therefore, a company must have an efficient warehouse management system to ensure it has first-hand market knowledge and long-term obligations to both suppliers and customers.

Beyond the business through the supply chain, managers should focus on how to increase efficiency and reduce production costs through efficient warehouse management, which the company should significantly enhance. Therefore, enhancing the company's management would allow it to concentrate on its main business operations. Certainly, a company may improve its warehouse management using a variety of techniques in order to increase efficiency and customer satisfaction (Meyer and Cannon 36).

Therefore, the management of the company's warehouse should guarantee that it addresses the factors that measure the warehouse's success. They must categorically utilize the neglected resources in order to deal with the pressures of managing multiple sales and purchasing within the firm. In addition, they must examine the warehouse management software and ensure the usage of computerized systems to ensure that order and operating delivery processes are included more efficiently. This would also result in increased labor productivity and labor efficiency inside the organization.

Additionally, the organization should track every warehouse operation performed by every employee. Eventually, they should validate all of these transactions utilizing automatic data collection. Such transactions include real-time verification of the location of goods and tracking of inventory characteristics such as lot numbers, serial numbers, size, style, and color. Product identification simplifies the shipping process, hence eliminating instances of incorrect product collecting places.

As one of the departments that define the success of a business, the warehouse should increase its efficiency given that all of a company's commercial transactions must be conducted successfully for it to succeed (Bolten 127). Consequently, the corporation can secure the realization of its vision by utilizing the subsequent strategies: First, warehouse management should keep a detailed process log of any and all changes made in the warehouse. Instead, they point to issues that have no bearing on the organization's failure, which ultimately leads to poor output of the origination.

Therefore, monitoring such errors would result in better organizational improvement, as there would be appropriate record-keeping practices involving such activities as worker training procedures, recruitment of new workers, implementation of new technology, and any other change within your warehouse (Meyer and Cannon 41). In addition, they should highlight systems that strengthen the accountability of warehouse personnel, which would lower the company's potential losses. Occasionally, the gains derived from these procedures are lost when employees disregard the proper system. Therefore, it is recommended that managers create an effective workflow inside the firm that fosters employee accountability and emphasizes the value of accuracy.

In addition, the corporate management should provide its staff with education courses and brief training. This is of the utmost importance when a company choose to utilize technology in its business transactions, as it motivates employees to perform their duties effectively. Although participation is optional, willing employees would gain a great deal, and so would the company, as the output level would increase as a result of these minor improvements. In addition, the academy would have a good impact on the culture at INEOS and provide a conducive learning environment with leadership traits. Specifically, warehouse authorities should ensure that there are experienced leaders with appropriate leadership attributes in the warehouse ("3 Key Benefits of an Effective Warehouse Management System," paragraph 5). Certainly, this would aid in the detection and prompt resolution of issues that could lead to enormous losses for the business.

To ensure that the organization maximizes profits, the corporation can also increase the warehouse's efficiency. Several tactics, such as excellent communication across the organization's various departments, can help the corporation accomplish this goal. Clearly, effective communication between employees and employers within the organization would help the organization attain its objectives (Briggs 67). Indeed, this trait is one of the most important predictors of successful warehouse operations. In addition, a petrochemical firm should standardize its operations by decreasing potential variation in its major operating sectors in order to improve service delivery efficiency and effectiveness.

They should also investigate the activities that may have contributed to the decline in revenues, since this will help them devise strategies to increase the organization's productivity by maximizing the use of the best method (Bolten 129). In addition, the warehouse management should measure the issues that have a direct impact on the company's success. This move would ensure that the organization's commercial transactions continue to improve. Consequently, if the outcome may not be really essential to both customers and shareholders, it would not be required for the company to spend a great deal of time on this issue. In reality, when a business adopts a work measurement program to assess and evaluate warehouse performance at the employee level, its productivity may grow by a particular percentage, resulting in profit maximization through optimal cost of production and lowered rates such as labor costs (Belcher par. 9).

The company's leadership should also receive the essential training to ensure that they are aware of their own responsibilities. As a matter of fact, they should always engage in those tasks that ensure greater productivity, such as acquiring the necessary information, making the right decisions, and taking the appropriate actions in every move they make within the company. In fact, this would be of utmost importance for improving warehouse output and management ("3 Key Benefits of an Effective Warehouse Management System," paragraph 8).

In addition, the organization should determine where the majority of the employees' time is spent. This would ensure a permanent increase in supply chain productivity, which is highly dependent on where employees and management spend the majority of their time and attention. With the handling of liquid products, warehouse management in a petrochemical firm remains a difficult issue, and warehouse managers must strive to improve their services in order to minimize product loss due to leakage. Since cost reduction is a goal for all firms, petrochemical companies must implement a variety of warehouse productivity-enhancing strategies. With a high level of productivity, there is a high level of return on investment maximized, which enhances profitability.

Constant inventory review is very feasible when top hits are properly categorized. Increasing warehouse productivity at the same time necessitates incorporating employees' input into the operation; this will motivate them to always care about their work ("3 Key Benefits of an Effective Warehouse Management System," par. 9). Increasing employee productivity through controlling the office atmosphere by making it vibrant. Warehouse managers must consider the comfort of their personnel in this regard. Shipping and loading manifests outline the route and products that must be followed and managed at all times during delivery. Inasmuch as a well-compensated staff strives to achieve the company's aims and objectives in the warehouse sector, employee compensation also affects warehouse productivity.

Evidently, based on the aforementioned factors, the organization is able to retain long-term partnerships with the world's largest manufacturers and clients who utilize their services. With the aforementioned suggestions for enhancing warehouse efficiency, petrochemical firms will be able to provide consumers with dependable and efficient services while reducing their management expenses. Warehouse managers must adopt the aforementioned suggestions in order to boost the warehouse's and the business's productivity. Enhanced warehouse management streamlines supply chains and reduces the cost of logistics services, hence enhancing competitiveness in the current global and dynamic market.

Sources Cited

Three important advantages of an efficient warehouse management system. CPTech. N.p., n.d. Web.

Lynda Movable Belcher. How to Organize Inventory Storage in a Warehouse. Small Business. N.p., n.d. Web.

Managing Time and Space in the Modern Warehouse with Ready-to-Use Forms, Checklists, and Documentation. Bolten, Ernst F. 1997, New York: AMACOM. Print.

Warehouse Operations Planning and Management by Andrew J. Briggs. 1960, New York: Wiley. Print.

Don Meyer and Casey Cannon. Improving the Data Warehouse. Prentice Hall, Upper Saddle River, NJ, 1998. Print.

A New Recipe for Efficient Warehouse Management. Inbound Logistics. N.p., 2012. Web. Weil, Marty.

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Black And Decker Firm Case Essay Help Free

Introduction

Since its founding in 1910, Black & Decker has operated as an international corporation. The company sells residential power tools, accessories, and hardware. The firm has a global reputation for producing superior products that efficiently satisfy the needs of their clients. However, like to other businesses, Black and Decker faces fierce rivalry from other metals manufacturers who do everything they can to slice into its share market. As a result, the company has created a number of methods to combat the intensifying competitive pressure. This study provides an evaluation of the firm's strategic plan and its ability to meet worldwide market requirements.

Objectives

Black and Decker Corporation's foreign activities are governed by a number of objectives. The most important aims are to boost quality production's constant improvement and long-term success. The second purpose is to implement direct marketing for product recalls. The third purpose of implementing public relations in product recalls is to handle brand-specific product recalls. Lastly, the firm seeks to foster consumer awareness and mutually beneficial relationships.

Strategic Plan

Strategic planning enables businesses to achieve their planned objectives and fulfill their responsibilities. The future of Black & Decker Corporation is based on a strategic plan that is regularly evaluated. The strategic plan is intended to provide a clear roadmap for achieving the organization's goals. Primarily, the strategic plan allows for additional franchisees to improve the brand name; this is based on the company's commitment to investing in innovation and research to provide superior and high-quality goods.

The Corporation is willing to consolidate acquisitions in order to improve its economic performance. In addition to strengthening its economic performance, the organization aims to expand its output margins as a result of its increased capital base. To boost its performance on multiple fronts, the company intends to spend at least two-thirds of its profits in creative acquisitions while allocating the remaining third to shareholders. Since 2004, this strategy plan has yielded great results; it has enabled the company to accelerate infrastructure investment and replace obsolete equipment with ultra-modern facilities. In addition to conducting research on determining client demands, the company is also developing methods for enhancing the business-customer relationship.

Business Model

Black and Decker Corporation, a multinational corporation, has invested considerably in streamlining its management to increase its output. Due to the organization's appeal to a global market, it employs a geographical management structure with regional offices serving local branches. Numerous regional offices are located throughout Europe, as well as in Asia and Latin America (Black & Decker, 2010). All of these branches collaborate with the New York headquarters.

Black and Decker offers an extensive variety of items and assortments, including household appliances, power tools, electrical accessories, and security solutions. The diverse product assortment has performed exceptionally well in generating constant revenue throughout the year. In addition to expanding its product line, the company is doing a good job of diversifying its output in order to expand its market share. This endeavor has not only generated new cash, but has also allowed the organization to increase its brand recognition.

The company sells its products to wholesale and retail distributors in the United States and Europe (Black & Decker, 2010). According to available data, its products are gaining popularity on continents such as Asia and Latin America. While retail sales in the United States have had their sales margin decline from 40% to 14% between 2002 and 2010, sales of electronics, security, and engineering appliances have surged.

Black & Decker Corporation has a well-organized internal operation mechanism that has enabled efficient resource allocation (Black & Decker, 2010). The strategic plan guides the allocation of organizational resources across all departments by management. As described previously, two thirds of the entire cash flow balance are reinvested in the firm, while the other third is dispersed as dividends. Typically, the money that is reinvested is subdivided and distributed to the various departments to cover their operating expenses. However, the largest amount is typically assigned to the Research & Development department in order to fund superior product research, innovation, and development.

The company has not managed the difficult criteria of the worldwide market on its own. The administration has committed to several franchise agreements, takeover attempts, and mergers. The firm has announced a joint venture partnership with Shaghai-based GMT. Mergers are vital for international businesses to strengthen their competitive advantage. This enterprise not only generates over $40 million in sales, but also enables Black & Decker to enter one of the world's most lucrative marketplaces. All of these were crucial decisions made to ensure the organization's intended performance objectives.

All of these endeavors have, ideally, contributed to the organization's regional diversification and performance enhancement. Mergers and acquisitions have generally given the business additional push to attain its aims and ambitions.

Strategic Dangers

All company ventures seek to be risk adverse. Nonetheless, because firms operate in a dangerous environment, management is susceptible and could easily fall victim to these risks. On the other hand, it should be realized that dangers present an abundance of opportunities when they are successfully exploited. Black & Decker's management faces both business-related and non-business-related risks. Rapid geographical expansion is one of the risks that the company faces.

When a company increases significantly in terms of physical capital, cash flow management may become problematic. This is frequently the result of substantial capital expenditures that prevent the company from meeting its short-term obligations. Second, Black & Decker faces the possibility of adverse political involvement. Operating in a foreign nation is constrained by numerous registration requirements and cumbersome governmental processes. All of these factors make it difficult for the company to conduct its internal operations efficiently.

Even if there are greater prospects on the foreign market, Black & Decker's management has had to apply a variety of tactics to address the numerous challenges that have arisen. In order to combat the difficulty of maintaining a positive cash flow balance, management has hired qualified accountants and auditors to review corporate performance and prevent negative cash flow. By implementing low-cost capital and enhancing capital allocation procedures, the issue of rapid expansion can be resolved. To combat negative political involvement in various states, the organization engages in mergers and acquisitions of players in host nations in order to avoid negative trade control mechanisms in host nations. These easing mechanisms will undoubtedly aid the organization's foreign market success.

Financial Risks

Participation in multinational mergers and joint ventures has posed accounting problems for Black & Decker. This is due to the fact that different firms utilize different concepts while preparing their financial statements. Apart from this, another difficulty that arises is the use of currencies whose values fluctuate frequently relative to the dollar. Such elements allow for financial misrepresentation, making it impossible for an accountant to bring order to the chaos. For example, the accountant Shaghai-based GMT joint venture may employ a larger dollar value relative to the Chinese currency. This would mean that Black & Decker would get a relative amount less than what was really earned.

Even if the company use weighted-average exchange rates, any error in calculation will result in an incorrect amount (Black & Decker, 2010). However, the use of the weighted-average exchange rate is consistent with international accounting rules. Black & Decker may also be exposed to the risk of valuing non-inventory items such as inventory and property, which are typically valued at a historical cost, using current currency exchange rates rather than those in effect at the time of the transaction. Failure to translate currencies so that they have a similar base as the native currency will result in inaccurate figures (Financial accounting standard 2011). In accordance with the Financial Reporting Manual's (2011) accounting rules, all international transactions must be reconciled with US dollars. This makes it simple for accountants to establish a common base.

In the event of a merger, the organization will confront obstacles when attempting to synchronize their accounts. This will necessitate the use of a carryover approach, which necessitates the combination of assets and liabilities. Assets should be disclosed and all transactions should be appropriately documented (Financial Accounting Standards, 2009).

Consideration of Goodwill and Other Intangible Assets

Black & Decker Corporation does not amortize its indefinite-lived goodwill and intangible assets. These assets are evaluated for impairment at the end of the year, but a fair estimate of their long-term value is necessary. This procedure needs an estimate of the growth potential for the future. The value of assets with an indefinite useful life is compared to the current fair market by comparing the cost of leasing to third parties.

In contrast, intangible assets are amortized over their entire useful lives. According to the new Financial Accounting Standards (2010) amendment, however, Goodwill and other intangible assets are not amortized. In its stead, the impairment of goodwill shall be evaluated during report period reporting. According to the definition, impairment is the occurrence when the goodwill's value exceeds its indicated fair value. Fair value of goodwill is determined as the residual of but not directly.

Corporate administration

Black & Decker has developed a geographical leadership structure in which regional branch officers are in charge. Mr. Lundgren John is the organization's president and chief executive officer. The board of directors provides him with stable leadership support that aids him in decision-making and strategic plan implementation. The board of directors is composed of a number of committees, which serve as the foundation for steady financial oversight and the compilation of accurate financial records.

The finance committee, which oversees all financial transactions and decisions, is the primary body constituted. The management committee focuses on management concerns and merger and acquisition discussions. This group also oversees the innovation and development processes. Lastly, the board of directors establishes a technological committee that ensures all operations comply with the most recent technological advances. Effective executive and board of director support has built a solid basis for the organization's future goal achievement.

Conclusion

The Black & Decker brand has existed for a considerable amount of time; hence, it has a substantial historical advantage or brand prominence. However, the company has not ceased its efforts to enhance its performance through constant innovation. This zeal has led the company to merge with larger companies and form joint ventures in order to increase its income and enter new markets. Black & Decker is devoted to and conforms with worldwide accounting standards to avoid any accounting risks, despite the arduous nature and difficulties of operating on the international market.

In addition, the CEO and board of directors have been instrumental in ensuring that Black & Decker has a competitive advantage over rivals. They have developed a practical strategy plan that is advancing the company. Black & Decker is anticipated to sustain its global market dominance in light of the efforts it has made.

Bibliography

Black & Decker (2010). The Annual Report for 2010. Black & Decker in New York

Series on financial accounting (2010). Intangibles: Brand Value and Other (Topic 350). Web.

Series on Financial Accounting (2009). Web site for Statement of Financial Accounting Standards No. 164.

Series on Financial Accounting (2011). Web site summary of Statement No. 133.

Financial Reporting Manual. (2011). Division of Corporation Finance. Web.

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Marketing For The Wrappz Vinyl In Undercover Design Ltd Essay Help Free

Background Material

The Wrappz vinyl covers are the company's newest and most inventive offering. In 2007, Undercover Design Ltd. was founded with the intention of introducing their product Wrappz. "Wrappz.com is the foremost provider of vinyl gadget stickers and vinyl gadget skins for laptops, iPods, iPhones, etc. The firm offers a variety of designs" (Wrappz.com company news 2008). This corporation initially launches this product on the European and British markets. The most recent assortment of accessories is comprised of Wrappz iPod skins, laptop skins, and protective vinyl stickers for gaming consoles (Wrappz made with crystallized tm-Swarovski elements 2010). Wrappz is one of the most popular items on the market. It helps promote the company's production and marketing. It also serves as an artistic medium for designers. Wrappz assists both the most gifted designers and the average player in designing an IGN skin. Available on the market are Wrappz for iPods, laptops, and gaming consoles such as the PS3, Wii, PSP, and DS (Create your own software 2008). Wrappz protects the laptop, phone, and other electronic devices. It also enables individuals select their own fashionable devices with Wrappz Vinyl Skins. This new product spreads rapidly throughout the British and European markets, and its demand continues to rise.

"With over 30 years of specialist print and sales experience, the directors of Undercover Design saw Wrappz as the ideal business opportunity, and with the assistance of one of the largest synthetic printers in Europe, they quickly brought the product to market" (Wrappz launch party at Hamley's toy store in aid of "BBC children in need," 2009). Wrappz models and styles are available for purchase on the market. Wrappz Vinyl Skins guard electrical equipment against dust and scratches. The flawless new digital procedures safeguard all devices, expanding their market. The designers create the most recent models and backgrounds. Customers select and apply Wrappz designs to their own smartphones, computers, and other devices. Made from the original 3M vinyl, it is a cool and ideal skin or cover for electronic equipment. It is extremely handy for electronic equipment because it adheres to relatively simple application procedures. "Wrappz will add more celebrity pictures to its collection and will also release new pictures on various themes" (iPod skins – Wrappz Launches an Exciting New Range of Their Celebrity Picture Collection, 2009). In addition to a highly nice background and exceptionally lovely covers, Wrappz features many themes. Using innovative software, anybody can design their own smartphone and laptop covers. With this new service for BlackBerry, wrappz.com provides individuals with even another creative outlet. wrappz.com sells vinyl skins for mobile devices such as the Apple iPhone, video game consoles such as the Sony Playstation and Nintendo Wii, and computers in addition to the BlackBerry (Wrappz now launches customized vinyl skins for blackberry, 2009).

Communication Purposes

Communication objectives assist a company in understanding the communication process's requirements. It convinces consumers to purchase things on the market. In Wrappz, communication facilitates the sale of Wrappz's products. It raises people's awareness of the need for wrapping Skin on the market. Communication helps to increase Wrappz product support and enthusiasm. All marketing communications must focus on the intended audience. It also helps to recognize the significance of product innovation. Marketing is a management concept intended to make all marketing aspects communicative. There are a variety of marketing communications. It consists of advertising, sales promotions, public relations, and direct marketing. "The communication goals must be unambiguously stated and devoid of ambiguity" (Setting communication objectives n.d.). This product aids in maintaining a positive relationship with clients in order to increase profits. These conversations help to increase sales and profits, saving time and money in the process. It also allows clients to create their own unique wrappz. Customers are extremely interested and enjoy customizing their own wrappz. Customers contribute their own ideas and designs to their personal laptops, mobile phones, games, and other electronic devices. This innovative digital technology is extremely popular on the global market. It contributes to the trendy appearance of the mobile devices, video games, and computers. Marketing communication is the most important aspect of marketing success. It provides a thorough understanding of marketing processes such as selling, advertising public relations, and sales encouragement. Additionally, it affords the business and the general public with high-quality work prospects. Advertising is one of the most significant company communication tools. The Wrappz product follows and employs a variety of advertising strategies. Media advertising such as radio, television, and newspapers, among others, serves to market the firm. The public relations method is another major communication method. The importance of the customer relationship to a firm cannot be overstated. A strong customer relationship aids in the market promotion of a product. Direct marketing is an effective strategy for promoting a firm. The most prevalent means of direct marketing include telephone sales, solicited or unsolicited emails, and so on. Direct marketing can be a very cost-effective sales technique. Therefore, it helps to attract clients and fosters positive customer relationships.

Identification of Market Segments or Target Audiences

There will be distinctions between the targeted markets. Market segmentation refers to the identification of distinct marketplaces. Customer satisfaction and a thorough understanding of the customer's needs are crucial to the success of any organization. The segmentation procedure provides a deeper comprehension of consumer needs and their fulfillment. A business can readily advance by addressing its customers' needs. The needs of each individual consumer may vary. Therefore, it is difficult to satisfy every consumer by treating them identically. In such circumstances, marketing segmentation is extremely beneficial to businesses. The audience will be interested in receiving new models and products of superior quality. The establishment of Wrappz Skin Product has the largest impact on the upcoming generation. Consequently, it recognizes the significance of the public's own decisions and comprehends its requirements. The marketing segmentation utilizes many segmentation strategies. Principal characteristics of segmentation include location, firm type, and behavioral factors. Segmentation is a crucial component of product marketing. In the case of Wrappz vinyl Skins, it allows individuals the ability to alter their own designs and concepts. The Media are assisting the public in comprehending the concepts behind the new product. It also has a significant impact on people's lives, and effective advertising immediately attracts the audience's attention.

Messages for Each Market Segment/Product Positioning

Marketing segmentation is one of the most essential approaches for market grouping. This procedure assists in segmenting the market into smaller, distinct segments. This segmentation of the market is based on the demands and attitudes of several categories of the intended audience. Market segmentation, corporate activity, positioning, firm portfolio, etc., are essential elements of product life cycle succession. The market segmentation examines and takes into account the customer's preferences, behavior, and reactions. Therefore, Wrappz observes the customer's preferences, preferences, and needs. The public subsequently adopted this new digital technology. Marketing segmentation relates to media production that recommended the most recent options for engaging with customers. Advertising and the media have a significant impact on the consumer's life, hence they play a vital part in the consumer's life. Undercover Design Ltd Company creates unique product wrappz in consideration of the consumer's age, gender, or way of life. The current generation embraces digital technology and uses Wrappz Vinyl Skins on their smartphones, laptops, and video games. Concentrating on specific product characteristics, positioning on benefits, etc., are examples of the various approaches to industrial products. These methods are closely associated with the positioning of product features. Product positioning facilitates consumer communication. Product positioning facilitates the introduction of a novel product that is distinct from conventional offerings.

Description of Problems

Each company faces unique challenges, such as financial difficulties and intense competition. The absence of financial resources hinders the expansion of a business. It also affects the company's productivity. The company's competition with other businesses is an additional significant challenge. This is a problem faced by all large corporations. The Wrappz vinyl Skin product confronts intense competition from numerous different brands. Some businesses frequently duplicate the products of others. It is one of the most significant obstacles encountered with the introduction of a new product, since the inferior quality of duplicate products leads to client unhappiness. Sometimes the duplicate goods might also catch the attention of consumers. This motivates the corporation to produce high-quality goods, which dominate the market for many years. Product marketing is a challenge for businesses. This issue is the primary reason for the absence of advertising. Promotional, pricing, and target marketing issues are the most prevalent marketing issues. Support activities have an impact on distribution decisions. This action is necessary to sell the product to all customers. Other concerns, such as the ever-changing nature of inventions, are included among the marketing issues faced by businesses. People's ever-changing needs diminish the longevity of a product. In businesses, the marketing department also encounters communication issues with other departments. Problems with human resources and coordination are exacerbated by the industrial process and marketing. Therefore, the organization's production and marketing face coordination issues. The marketing and production departments are experiencing coordination difficulties. Marketing's primary challenge is a dearth of excellent employees. Superior and intelligent employees aid in boosting production and marketing.

Evaluation of the Elements of Marketing Communication Mix

Marketing and sales are essential to the survival of the business. Promoting is a combination of "price, place, promotion, and product (known as the four P's)," in addition to "people, processes, and physical evidence when marketing services" (known as the seven P's) (Introduction to Marketing communication 2010). Marketing communication mix refers to the methods and channels of communication used to promote a product. Marketing policies are primarily derived from the marketing communication mix. Marketing communication assists in conveying a product's message to clients. Advertising, Direct Marketing, Personal Selling, Public Relations, and Sales Promotion make up the five conventional components of the MARCOM mix (The marketing communication mix of tomorrow 2009). Advertising is a promotional approach that is predominantly employed by an organization to promote their goods. This communication mix consists of paid media such as television, the Internet, radio, and newspapers. This expedites the dissemination of the message to the public. The media, such as the internet, television, and others, is a worldwide medium that allows viewers from all over the world to view the advertisement. Consequently, goods sales grow significantly. Direct marketing permits the company to interact directly with consumers. Direct marketing utilizes techniques such as telemarketing, direct mail, and coupons, among others. This strategy encourages direct marketing extensively. Personnel selling is a form of marketing that closely resembles direct marketing. In personnel selling, the salesperson approaches the customer or prospects personally. They provide the customer with thorough information about their product and persuade them to purchase it. Personnel selling is highly costly, but if a company is proficient at it, it is the most rewarding aspect of the marketing technique. Successful sales begin and conclude with the customer. The personnel selling facilitates a knowledge of the customer's needs by meeting their requirements. Public relations is an essential component of the marketing communication mix. The tools of public relations include public events, press, sponsorship, and media releases, etc. The development of community-conscious company practices is facilitated by public relations. The collaboration of the public is crucial to the success and continued survival of any firm, and so, these practices contribute to the organization's development. The conventional component of the marketing communication mix is sales promotion. Sales promotion is the technique that encourages buyers to purchase a product. For the purpose of promoting sales, it provides several free gifts, coupons, discounts, prizes, etc., when a customer purchases a product. Such promotions improve the product's sales. Wrappz advertising is the optimal marketing communication mix for the product. It facilitates the promotion of this product's sales.

Recommendations for one or two appropriate public relations communication methods and instruments

The media release was utilized in the public relations communication mix for the promotion of the Wrappz product.

Therefore, that organization should have a harmonious connection with the media so that the media will communicate a favorable message about its firm and product. This causes individuals to have a positive outlook on the product.

Justification of Communication Mix Selection

Communication mix is essential for Wrappz's promotion. The communication mix aids in conveying the company's views to the public. The selection of an appropriate communication mix enables the Wrappz goods' survival, remuneration, and significance to be communicated to the intended customers. Communication mix components include public relations, sales promotion, advertising, direct marketing, and personal selling, among others. Public relations are incredibly plausible and realistic. For the promotion of Wrappz products, advertising is the optimal communication strategy. Advertising is a form of compensation for managing products, designs, and services. Advertising is "the description or presentation of a product, idea, or organization to persuade individuals to purchase, support, or approve of it" (Advertising: Definition n.d.). Advertising is selected because it allows Wrappz products to reach a big number of clients who are geographically dispersed. The method of advertising will increase the rate of sales. Despite the high overall expenses, the cost per exposure is very cheap. Customers typically view marketed products as being more deserving. It contributes to the promotion of the company and enables a higher production rate. Advertising informs consumers of how the product will benefit them and encourages them to purchase the product. It is a potent tool that will boost the product's commercial value. It reaches and motivates more individuals to purchase the product. Using promotion, the Wrappz brand is likely to become more popular. Using this, Wrappz will establish its brand in the marketplace. Primarily, the advertising promotes short-term sales.

Use a Mockup to Illustrate Your PR Communications

Public Relations aid in the management of communications between a corporation and the public. PR communications improve the company's engagement with its customers. PR communication aids Wrappz in establishing its business image in the highly competitive marketplace. Using PR communication, the relationship between consumers, staff, and the public could be strengthened. The purpose of wrappz's public relations is to promote their items on the market. For effective PR communication, it is necessary to comprehend the market's target customers and adapt messages accordingly. In order to effectively communicate with clients, it is necessary to craft messages that are more widely disseminated. Customers may be national or international. Utilizing PR communications allows for the creation of effective messages. Posters, news releases, and other promotional materials help promote the wrappz product. Posters can be distributed with advertisements highlighting the benefits of the product. A message describing the quality of the selectable wrappz products. The wrappz product extends the life of mobiles, computers, iPods, etc. without causing any damage and also improves their appearance. Therefore, "discover the beauty of vinyl covers" will be an effective vinyl product promotion statement.

PR communications also aid in the research, analysis, and campaign phases, among others. By comprehending PR messages, the products reach clients more quickly. PR campaigns are a means of promoting Wrappz's products. Wrappz must be optimized for the PR communication tools that are most effective. Wrappz use public relations tools and techniques as part of its marketing strategies and to develop effective public relations. Effective public relations will attract new clients to your firm even during a recession (Fenell 2010). If PR communications are utilized in promotion activities for Wrappz, sales will increase significantly. It will raise the number of customers for the product and introduce the product to new customers. The news can be disseminated immediately to the public via press release. It disseminates information regarding the product. Most successful businesses have utilized PR communications for their growth.

Reference

2010 Web.

Create your own software, 2008. Wrappz.com online.

Fenell, Z. 2010. What are PR communication tactics and tools? eHow. Web.

Marketing communication: an introduction, 2010. [Online] Marketing Teachers Ltd. Web.

iPod skins – Wrappz Introduces an Exciting New Collection of Celebrity Photographs, 2009. Online publication of Newswire Today. Web.

2010. Web. Setting communication objectives, n.d. [Online] Asternglance.

Tomorrow's marketing communication mix, 2009. [Online] Marketing and Sales for "You" Web.

2008 Wrappz.com news, online 1888 press release. Web.

2009 Wrappz launch celebration held at Hamley's toy store to benefit BBC Children in Need. [Online] No cost press release. Web.

2010 Wrappz created with Swarovski crystalline pieces. [Online] PRLog. Web.

Wrappz cow introduces personalized vinyl skins for BlackBerry in 2009. [Online] PR. Com. Web.

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Knowledge Translation In Health Essay Help Free

Knowledge translation is the term first used by Canadian Institute of Health Research (CIHR) in year 2000, it is a dynamic and iterative process that includes the synthesis, dissemination, exchange and ethically sound application of knowledge to improve health, provide more effective health services and products, and strengthen the health care system'(CIHR,2005).

According to, World Report on Knowledge for Better Health Report, there is huge difference in life expectancy between developing and developed nation. Approximately, 6 million child deaths are attributable to preventable causes; reason behind is that we are not able to implement available knowledge efficiently, which comes as a gap between knowing and doing- ‘the know-do gap’. The situation is not acceptable, in developing countries, where 90% of global disease burden lies and only about 10% of total global health research funding is available; the 10/90 gap.(Knowledge translation in developing countries).

In this study we will try to explore different views about knowledge translation & will rediscover determinants of knowledge action gap, challenges to bridge know to do gap & strategies to address these gaps with concluding remark on way forward. The search pattern followed is non-systematic and references are made to relevant studies.

Various factors determine the gap between knowledge and its implementation in field. There is lack of accountability at all level of decision making from the frontline workers to high level policy makers. None of the country is spared of this know- do gap.

This research to action gap is not confined to any one specific area of service delivery but it is a cross cutting issue. There are multiple of challenges being faced by policy and decision makers

Including the skills to skill to use the knowledge at ground reality, sufficient no. of the skilled manpower. These challenges are also evident at different level of health system like lack of funding and finances to support and sustain the action, lack of logistics, lack of skilled health work force and lack of compliance of the target population to the services they are getting. The bridging of knowledge to action gap ; the know-do gap is indispensable to improve the health outcome.

The knowledge translation is important in addressing the Know’do gap. The know to do gap has unmasked many areas related with health inequity. Many countries are lagging behind the achievement of MDGs by 2015. It is not that we do not have knowledge or research to address all these preventable causes of mortality and morbidity, instead it is the lack of using this knowledge or failure to convert this knowledge into action that is leading to all this consequences. Besides this restricted access to information, less reliability on evidence based problem solving and learning, problem with scaling up of the success of a program (KT in global health). There are many strategies and initiatives being undertaken by various organizations to tackle these shortcomings and for strengthening of health system.

The WHO has come up with a knowledge management (KM) strategy to overcome the know-do gap by improving access to world’s health information, translation of knowledge into action, sharing of knowledge, e-health and supportive environment for KM.(Knowledge Translation in Developing Countries Nancy Santesso, RD, MLIS, and Peter Tugwell, MD, MSc)

the Ottawa Model of Research Use (OMRU) developed by Logan and Graham is a conceptual framework for selecting and tailoring strategies to promote the application of research and to assess, monitor, and evaluate knowledge translation strategies based. .7,8(Canadian Coalition for Global Health Research (CCGHR).

Most of the causes of premature death and disability are treatable with the available knowledge and research. It is imperative to use the strategic knowledge to bridge the know’do gap. The continuous evolution of knowledge translation strategies have equipped the policy makers to use the evidence for action.(knowledge translation in developing countries.) The WHOs Knowledge management strategy and Ottawa Model of Research Use (OMRU) have larger implication for effective knowledge translation.

Canadian Institutes of Health Research (2004). Knowledge translation strategy 2004’2009: Innovation in action. Retrieved September 9, 2006, from http://www.cihr-irsc.gc.ca/e/26574.html

Canadian Institutes of Health Research (2005). About knowledge translation. Retrieved September 9, 2006, from http://www.cihr-irsc.gc.ca/e/29418.html

(Canadian Institute of Health Research. Knowledge translation strategy, 2004’2009.Available at: http://www.cihrirsc. gc.ca/e/26574.html#introduction. Accessed Feb. 17, 2006.)

(Knowledge Translation in Developing Countries Nancy Santesso, RD, MLIS, and Peter Tugwell, MD, MSc)

(7. Canadian Coalition for Global Health Research (CCGHR). Available at: http://www.

ccghr.ca. Accessed Nov 11, 2005. 8. International Clinical Epidemiology Network (INCLEN). Available at: http://www.inclen. org. Accessed Nov 11, 2005.) (Knowledge Translation in Developing Countries Nancy Santesso, RD, MLIS, and Peter Tugwell, MD, MSc)

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Merit goods devry tutorcom essay help

Merit goods are goods which will be under-provided by the market, therefore they will be under-consumed. They are thought by the governments to be good for the populations and so the governments want them to be consumed to a great extent. They increase the private and social benefits and cause the social benefit be higher than the private one. The best examples of them, apart from all the public goods, can be the education, health care, sports facilities and the opera.

Although the majority of the merit goods is provided by the private sectors, not all the people can afford buying them, therefore they will be under-consumed. That is why the government is needed to destroy the market failure increasing the supply and consequently raising the consumption.

To explain the reasons for government to provide the merit goods, I need to apply some examples of them. The first one can be the education. It is significant for the governments to provide it so that the society would be well-educated. Governments determine the period of education required for people (the compulsory education) to maintain the proper level of education of the society. The governments find education an important aspect that should be available for everyone as it cause the whole country to have better both economic growth and economic development.

Considering another example such as health care, the situation is quite similar. The governments want to provide the population with it because they care about the high states of health of society in their country. To gain these, the countries need to have high quality of health care. Governments often offer people unpaid programs consisting of preventative medical examination which contribute to maintain the high number of healthy people. This is also connected with the problems of the labour market. The healthier people are, the more efficient their work is, the greater revenue firms have and countries are more developed because of taxations.

Other examples like sport facilities or the opera are meant for people to become physically and culturally developed but their availability is not as important as in the case of the previous examples. That is why they are not as much provided by the governments as the rest of the merit goods.

Although most of the merit goods provided by the governments are free, the fact is that they are paid through the taxes that the societies pay. The number of the merit goods of particular types that the governments provide or subsidize depends on the necessity of them. If they are provided, the societies’ benefits get higher and so is the public treasury of the countries.

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Research proposal: The effect of pregnancy on the adolescent pregnant teen & father write my essay help

Abstract: The purpose for this research paper is to address the adolescent pregnant teen & father and the effects a pregnancy has on both of their lives during and after her pregnancy. How the teens need the support of the family, community, church, and the school system. I will also address the teen father mostly disregarded in any aspect of the teen’s pregnancy and how this affects him, and how both teens need support in our society. How we can address the social problem of teen pregnancy from all avenues.

‘Three issues that have an impact on the pregnant adolescent are discussed education, identity development, and maternal support’ (Turnage & Pharris, 2013). My research focuses on adolescent pregnant teen women 19 years old and younger. It will also reflect the problems of the teen pregnant adolescents journeying thru the process of becoming a teen mother, finishing high school, developing her own identity and the maternal support she gets from her mother during her transition from pregnant teen to motherhood.

‘Several issues that differently influence the pregnant teen is individually based on the female’s chronological age’ (Turnage & Pharris, 2013). ‘For the pregnant adolescent, her pregnancy supersedes high school graduation as the benchmark for her being viewed as an adult’ (Turnage & Pharris, 2013). ‘Failure to graduate high school is associated with poor social and educational outcomes for teen mothers and their children’ (Turnage & Pharris, 2013).

‘While the pregnant adolescent is defining who she is as a person she experiences a transition to the new identity of mother’ (Turnage & Pharris, 2013). ‘During her pregnancy the adolescent’s mother is seen as the primary source of support that contributes to a positive self-image and can assist her in the adapting to the role of parent’ (Turnage & Pharris, 2013).

My research paper will also show how important it is to support the teen during and after pregnancy. It addresses the need for the teen mothers to finish high school, and find her identity. How important it is to have the support system of her mother and family to achieve all of these things. Without these support systems, the pregnant adolescent could end up in poverty, no social skills, homeless and a host of other social problems for her and her baby.

Addressed and examined is teen motherhood and its long-term mental and physical health of the teen mother’ (Patel & Sen, 2012). They used a (PCS) health survey known as SF-12 NLSY79 a study that compared two major comparisons groups of which only teens who experienced teen pregnancy and girls who did not experience teen pregnancy. On average the survey for teen mothers was on average 50.89.

The study to access the health outcome of ‘two major comparison groups, which consisted of women who were only experienced teen pregnancy & women who were having unprotected sexual relation as a teen but did not become pregnant ‘ (Patel & Sen, 2012). Estimated is that teen mothers are more likely to have poor health later in life in the study of all the comparison groups.

Along with support, they desperately need help taking care of an infant as a teen; they need a support system to take notice of how they are managing their health & well-being so that they can be a successful teen parent. In addition, being a teen parent can affect the mother’s mentally as the pressure of being new teen mom can be stressful.

The teen mothers who marry after they give birth to their children statistics state that 30 % of them will not remain in their marriages into their 40’s. This result comes from teen adolescents in a single parent home raising their child. This can put a strain on the teen adolescent because she will financially have to seek support from her family or enter into the welfare system and suffer mental health issues.

‘Adolescent teen mothers identify social support with, parenting and emotional support primary emanating from family members, particularly their own mothers, as well as from the father of the baby (Savio Beers & Lee, 2009)’. ‘Older sisters may play an important role in the support network for adolescent mothers, the supportive sister relationships decrease depressive and anxiety-related symptoms in adolescent mothers (Savio Beers & Lee, 2009).

‘For some adolescent parents, participation in a religious community programs may provide the significant social support and serve as a protective factor’ (Savio Beers & Lee, 2009). This directly stresses the point that without the support of family, community, and church with the support of the father the adolescent teen mother can suffer mental issues, poverty issues, and marriage problems.

We addressed the many issues that teen mothers have to face, so now I would like to address the teen father in our society. What are their concerns on becoming a teen father, and how do they view their role as father where their masculinity is concerned? While most of the research done on teen pregnancy and parenting mainly focusing on the mother, the father is invisible.

Interviewed were 26 young teen fathers in the mid-western American towns. The in depth survey of three themes of gender discord focused on teen father narratives, which took on responsibility, sex, being a man, this is the direct viewpoint of the invisible teen father. What they feel about getting a teen girl pregnant and what responsibility they take in the pregnancy if any. How they relate to getting a teen pregnant and how that affects his identity as a man and their masculinity.

‘Gendered assumptions regarding pregnancy and contraception’specifically that women are in charge of preventing pregnancy and they have the belief that male sexuality is uncontrollable; and that use of love and intimacy talk (Weber, J. B., 2013). The teen fathers that took the questionnaire did not blame themselves for getting the teen girl pregnant. They see the teen’s pregnancy as her problem.

Studies suggest that teen fathers are more likely to be of a minority race. He has a mother who had a baby as a teen; his parents have a minimal education. His parents do not have high expectations of him finishing school; all of these factors result in the likelihood that makes him a candidate to becoming a teenage father. ‘The research states that the teen fathers go to school fewer years less than non-teenage fathers (Fletcher & Wolfe, 2011).

‘Evidence shows that men who have children before marriage leave school earlier and have worse labor markets outcomes’ (Fletcher & Wolfe, 2011). ‘Data was used only on young men who reported a pregnancy as an adolescent’ (Fletcher & Wolfe, 2011). It affects his completion of high school.

It also affects his ability to take care of the teen mother & baby, which causes him to drop out of school early. Statistically, ‘teen fathers work more hours and earn more money following the birth of a child then his non-parent counterparts’ (Fletcher & Wolfe, 2011). Teen fatherhood results in the teen father getting married early or co-habitation with the teen mother.

In conclusion, teen pregnancy is a social problem in the United States both teens will have to suffer in their education, grow up before their time, take on adult responsibilities, and suffer financial problems to take care of the child. Which ultimately falls on the parents of the teens, society or the welfare system in which the teen mother becomes a social statistic or shall I say a number.

Teen pregnancy as of 2014 have been on the decline in the United States and increased in other states, however a positive support system for both teens is minimal at best. Socially as communities, churches and government we have to take an active role in education of abstaining from sex, talking to the teens about sex, and protecting themselves against pregnancy.

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Reconnaissance attacks in IPv6 networks write essay help

2.1.1 Reconnaissance attacks in IPv6 networks

The 1st larger attack in IPv6 is usually a reconnaissance attack. An attacker try reconnaissance attacks to get some confidential information about the victim network that can be misused by the attacker in further attacks. For this he uses active methods, such as scanning techniques or data mining strategies. To start, an intruder begins to ping the victim network to determine the IP addresses currently used in the victim network. After getting some of the accessible system, he starts to scan the port to find out any open port in the desired system. The size of subnet is bigger than that of the in IPv4 networks. To perform a scan for the whole subnet an attacker should make 264 probes and that???s impossible. With this fact, IPv6 networks are much more resistant to reconnaissance attacks than IPv4 networks. Unfortunately, there are some addresses which are multicast address in IPv6 networks that help an intruder to identify and attack some resources in the target network.

2.1.2 Security threats related to IPv6 routing headers

As per IPv6 protocol specification, all of the IPv6 nodes must be able to process routing headers. In fact, routing headers can be used to avoid access controls based on destination addresses. Such action can cause security effects. It may be happen that an attacker sends a packet to a publicly accessible address with a routing header containing a ???forbidden??? address on the victim network. In such matter the publicly accessible host will forward the packet to the destination address stated in the routing header even though that destination is already filtered before as a forbidden address. By spoofing packet source addresses an intruder can easily perform denial of service attack with use of any publicly accessible host for redirecting attack packets.

2.1.3 Fragmentation related security threats

As per IPv6 protocol specification, packet fragmentation by the intermediate nodes is not permitted. Since in IPv6 network based on ICMPv6 messages, the usage of the path MTU discovery method is a duty, packet fragmentation is only allowed at the source node.1280 octets is the minimal size of the MTU for IPv6 network. The packets with size less than 1280 octets to be discarded unless it???s the last packet in the flow as per security reasons. With use of fragmentation, an attacker can get that port numbers not found in the first fragment and thus they bypass security monitoring devices expecting to find transport layer protocol data in the very first fragment. An attacker will send a huge amount of small fragments and create an overload of reconstruction buffers on the victim system which resulted to the system crash. To prevent system from such attacks it???s necessary to bound the total number of fragments and their permissible arrival rate.

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WMBA 6000-13 Topic: Course Evaluation cheap mba definition essay help

WMBA 6000-13

Topic: Course Evaluation

Date: March 2, 2014

Based on the assigned readings for this course (Dynamic Leadership), I have read an enormous amount of information about the different categories of leaders and leadership styles. Today’s leaders are different from the leaders of twenty to fifty years ago. In the past leaders gave commands and they controlled the actions of others. Today leaders are willing to involve others in their decision making and they are more open to new possibilities.

A good leader has a vision for their organization and they know how to align and engage employees in order to promote collaboration. The successful leader knows how to lead by using superior values, principles and goals that fit the organization’s values, principles and goals. Also these leaders know that leadership is not made from authority, it’s made from trust and followership. Coleman, J., Gulati, & Segovia, W.O. (2012)

I am impressed most by the characteristics of the authentic leader because they know how to develop themselves; they use formal and informal support networks to get honest feedback in order to drive long-term results. Authentic leaders build support teams to help them stay on course and counsel them in times of uncertainty. George, B., Sims, P., Mclean, A.N. & Mayer D. (2007)

In addition, I found the Leadership Code to be important because it provides structure and guidance and helps one to be a better leader by not emphasizing one element of leadership over another. Some focus on the importance of vision for the future; others on executing in the present; others on personal charisma and character; others on engaging people’; and others on building long-term organization. The code represents about 60 to 70 percent of what makes an effective leader. Ulrich, D., Smallwood, N., Sweetman, K. (2008)

The information that I acquired from this course will help me to pursue the goal of owning a beauty supply business. Another goal that I can add to my action plan is to include not only wigs and welted hair, but I will add hair, skin and nail products to my inventory. A future goal will be to add handbags and accessories as well.

After completing my short-term goal of finishing my MBA, I can take the knowledge from this course along with my values, ethics and principles to help me to manage employees and operate a successful business. Annie Smith (March 2, 20

Coleman, J. G. (2012). Educating young leaders. Passion and Purpose , 197-202.

George, B. S. (2007). Discovering your authentic leadership. Harvard Business Review , 129-138.

Lyons, R. (2012). Dean of Haas of School of Business University of California, Berkely. It’s made from followership. (J. G. Cole, Interviewer) Coleman, J., Gulati, D., & Segovia, W.O.

Ulrich, D. S. (2008). Five rules of leadership. In The leadership code five rules to lead by. Defining Leadership Code , 1-24.

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Family presence during CPR (cardiopulmonary resuscitation) college essay help los angeles

In a pre-hospital setting, there are few moments that are as intense as the events that take place when trying to save a life. Family presence during these resuscitation efforts has become an important and controversial issue in health care settings. Family presence during cardiopulmonary resuscitation (CPR) is a relatively new issue in healthcare. Before the advent of modern medicine, family members were often present at the deathbed of their loved ones. A dying person’s last moments were most often controlled by his or her family in the home rather than by medical personnel (Trueman, History of Medicine). Today, families are demanding permission to witness resuscitation events. Members of the emergency medical services are split on this issue, noting benefits but also potentially negative consequences to family presence during resuscitation efforts.

A new study has found that family members who observed resuscitation efforts were significantly less likely to experience symptoms of post-traumatic stress, anxiety and depression than family members that did not. The results, published in an online article in The New England Journal of Medicine, entitled ‘Family Presence during Cardiopulmonary Resuscitation,’ were the same regardless of the survival of the patient. The study involved 570 people in France whose family members were treated by emergency medical personnel at home. These EMS teams were unique in that they were comprised of a physician, a nurse trained in emergency medicine, and two emergency medical technicians. The study found that the presence of relatives did not affect the results of CPR, nor did it increase the stress levels of the emergency medical teams. Having family present also did not result in any legal claims after the incidents occured. While the unique limitations of the study warrant consideration, the results show a definite benefit in having families stay during CPR (Jabre Family Presence).

Historically, although parents of children have been allowed to be present for various reasons, relatives of adult patients have not. As medical practices change to increasingly involve family in the care of patients, growing numbers of emergency medical practitioners say that giving relatives the option of watching CPR can be a good idea. Several national organizations, including The American Heart Association, have revised their policies to call for giving family members the option of being present during CPR (AHA Guidelines for CPR). Witnessing CPR, say some emergency medical experts and family members, can take the mystery out of what could be a potentially terrifying experience. It can provide reassurance to family members that everything is being done to save their loved ones. It also can offer closure for relatives wanting to be with their family members until the last minute (Kirkland Lasting Benefit). Another benefit is that it shows people why reviving someone in cardiac arrest is much less likely than people assume from watching it being done on television (Ledermann Family Presence During). Family members who can truly understand what it means to ‘do everything possible’ can go on to make more informed decisions about end-of-life care for themselves or their families.

There are three perspectives on this issue- that of the emergency medical personnel providing care, the family, and the patients. The resistance on the part of the medical community to family presence during CPR stems from several different concerns. The most common concern among these is that family members, when faced with overwhelming fear, stress and grief, could disrupt or delay active CPR. Another concern raised by emergency medical personnel is that the realities of CPR may simply be too traumatic for loved ones, causing them to suffer more than they potentially would have if they had never witnessed the event. Some families share this view, citing the potential for extreme distress as a main reason for not wanting to witness resuscitation (Grice Study examining attitudes). Many emergency medical personnel also fear an increased risk of liability and litigation with family members present in the room (Fullbrook the Presence of Family). The worry is that errors can occur, inappropriate comments may be made, and the actions of the personnel involved may be misinterpreted. In an already tense situation, the awareness of the family could increase the anxiety of the personnel and create a greater potential for mistakes.

Another complication that arises from having families present during resuscitation attempts is that of patient confidentiality. The patient’s right to privacy should not be circumvented with implied consent. There is always the possibility that medical information previously unknown to the family may be revealed in the chaos of resuscitation. In addition, patient dignity, whether physical or otherwise, may become compromised (Fullbrook the Presence of Family). Beyond moral considerations, legal concerns regarding revealing patient information are real. This could become an even larger issue if there is no one available to screen witnesses, which could result in unrelated people gaining access to personal information. Eventually, a breach in confidentiality can lead to a breach in the confidence that the public has gained in pre-hospital emergency care.

Family presence during CPR in a pre-hospital setting remains a highly debatable topic. This could be largely due to the fact that the needs of the emergency medical providers and the rights of the patients can be at odds with the wishes of the family members. Although there are several possible reasons why family presence is not being welcomed into daily practice, one of the major reasons could be the lack of formal written policies that define the roles of families and providers placed into this situation. Bringing family members into a situation where CPR is being performed on a loved one should not happen haphazardly. It should happen with careful concern and support for everyone involved. Policies and protocols, defined by experienced personnel, can provide legal and emotional support. They can also potentially help ease anxiety by defining expectations and placing responsibility in the hands of people who are experienced enough to know how to handle the situation appropriately. The policies and protocols should address the basic needs of all people involved. Five basic needs should be addressed:

1. The number of people allowed to be present

2. Which relatives should be allowed to be present (age, relationship, etc.)

3. The role of the family members present and what is expected of them.

4. The place where the family should remain during the duration of CPR.

5. The formal wishes of the patient- written as a directive like a living will.

An important component of this is available, trained staff that can prepare the family members for what they will witness, support them through the event, and then direct them after the event’s conclusion.

The American Heart Association states that the goals of cardiopulmonary resuscitation are, ‘to preserve life, restore health, relieve suffering, limit disability, and respect the individual’s decisions rights and privacy’ (AHA Guidelines for CPR). The practice of offering family members the opportunity to be present during CPR is a controversial ethical issue in emergency medical services. While the results of the study published on this topic in The New England Journal of Medicine clearly show no negative side effects from having families present during resuscitation attempts, the limitations of the study lend to the need for more research before it could be universally accepted.

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Respondeat Superior my assignment essay help

Legal claims that derive from a situation where there are claims of negligence can sometimes involve an entity other than the neglectful parties. In certain circumstances employers are fully responsible for their employees, and the tasks they perform during working hours. During the course of this paper, the doctrine of respondeat superior will be defined and explained. Two case studies in which the doctrine was applied will also be analyzed to determine if it was applied correctly.

Respondeat superior is a legal theory that holds employers responsible for any negligent or harmful act performed by an employee during the commission of their employment duties (Thornton, 2010). The Maryland Supreme Court in 1951 was the first court to utilize respondeat superior in a court case involving a question of employer liability (Burns, 2011). This doctrine is important as it holds employers liable in court cases where one of its employees does harm to an individual. Vicarious liability and indirect liability are two base concepts that make-up respondeat superior (Thornton, 2010). Respondeat superior shows that the employer did not have to be responsible for the employee???s negligent behavior, in the form of improper training or instruction to perform harmful acts, in order for the employer to be held legally responsible.

In the case of Valle v. City of Houston, the police force was sued for excessive force and an illegal search in an attempt to remove an individual from his parent???s home (Nicholl & Kelly, 2012). The situation stemmed from a man, Omar Esparza, barricading himself in his parent???s home and refusing to come out (p. 285). After a long police standoff, the SWAT team was ordered to forcefully enter the home and remove Mr. Esparza (p. 285). The SWAT team utilized taser gun and bean bag ammunition in an attempt to subdue Mr. Esparza after they felt he posed a physical threat by wielding a hammer, but as those attempts failed the suspect was fatally wounded when an officer fired his weapon (p. 286). Shortly after the incident the mother was allowed into the home, and she reported no visible evidence that her son was possession of a hammer (p. 286). The court found that the city was not liable for damages under the theory of respondeat superior, because the order to remove the individual from the home was not made by an individual deemed as a decision-maker by the city (p. 286).

From the outside, this case seems to fit the theory of respondeat superior. As the employer, the city should be held responsible for the actions of its employees. The police, serving as the city???s employees acted in a manner that was unnecessary for the situation and in conflict of their training (p. 286). However, the court sided with the City of Houston because the chain of command was not followed in regards to the use of force (p. 286). The end result is a case where an individual made a decision that was not his to make; that ultimately cost a man his life.

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