BP And Shell Companies’ Financial Analysis Essay Help Site:edu

The project focuses on the analysis of the financial statements of both BP and Shell. This study's primary objective is to assess the financial performance of both Shell and BP Company. The focus of the study was on the most important financial statement ratios. Based on financial statement ratios, BP performed better financially than Shell Company in 2009, compared to financial statement ratios.

Shell

Profitability and Productivity

Return on total assets for 2009 was 4% for the corporation. This indicates that the company's net margin of $12,718.00 represents 4% of its total assets of $292,180.00. The 2008 ratio of 9 percent provides a more accurate picture of the company than the 2009 ratio (Maguire, 2007).

In addition, the company produced a 9 percent return on equity in 2009. This indicates that the company's net margin of $12,718,00 represents only 9 percent of its stockholders' equity of $138,135,00. The 2008 ratio of 21% is a more accurate representation of the corporation than the 2009 ratio (Maguire, 2007).

In addition, the company produced a 10% return on capital employed in 2009. This demonstrates that the company's earnings before interest and taxes of $21,562 are less than 10 percent of the difference between its total assets of $292,182 and its current liabilities of $84,789. The 2008 ratio of 12 percent is a more accurate representation of the corporation than the 2009 ratio (Mayo, 2007).

In addition, the company's net margin ratio for 2009 was 5 percent. This demonstrates that the company's net margin of $12,718,00 represents only 5% of its net revenues of $278,188. The 2008 ratio of 6 percent provides a more accurate picture of the corporation than the 2009 ratio (Mayo, 2007).

In addition, the company's accounts receivable turnover rate for 2009 was 394 percent. This indicates that the company's net revenues of $278,188 exceed its average accounts receivable by 394 percent. The 2008 ratio of 559 percent provides a more accurate picture of the corporation than the 2009 ratio (Mun, 2005).

In addition, the company's overall asset turnover rate in 2009 was 97%. This indicates that the company's net revenues of $278,188.00 represent 97% of its average total assets of $287,228.00. The 2008 ratio of 162 percent is a more accurate representation of the corporation than the 2009 ratio (Mun, 2005).

Liquidity

In terms of its liquidity in 2009, the company generated a current ratio of 1.14. This demonstrates that the company's current assets are 1.14 percent of its current liabilities for 2009, which are $84,789.00. The 2009 ratio provides a more accurate view of the organization than the 2008 ratio of 1.10 (Mun, 2005).

In addition, the company produced an acid test ratio of 0.81 in 2009. This indicates that the company's total cash, receivables, and marketable securities represent 81% of its current obligations of $84,789.00. The 2008 ratio of 0.92 provides a more accurate picture of the company than the 2009 ratio (Mun, 2005).

Reduction Ratio

Additionally, the company's debt-to-equity ratio for 2009 was 112%. This demonstrates that the company's entire debt of $154,046,00 represents 112% of its total equity of $138,135,00. The 2008 ratio of 1.19 is a more accurate representation of the corporation than the 2009 ratio (Mun, 2005).

The Investor Ratio

In 2009, the company made $2.04 per share in terms of earnings. The 2008 ratio of $4.27 provides a more accurate picture of the corporation than the 2009 ratio (Mun, 2005).

BP

Profitability and Productivity

In 2009, the corporation generated a return on total assets of seven percent. This indicates that the company's net margin of $16,759.00 represents 4% of its total assets of $235,968.00. The 2008 ratio of 9 percent provides a more accurate picture of the company than the 2009 ratio (Niven, 2006).

In addition, the company produced a return on equity of 16% in 2009. This indicates that the company's net margin of $16,759.00 represents only 16% of its stockholders' equity of $102,113.00. The 2008 ratio of 24 percent provides a more accurate picture of the corporation than the 2009 ratio (Niven, 2006).

In addition, the company's return on capital employed for 2009 was 16%. This demonstrates that the company's earnings before interest and taxes of $26,426,00 represent only 16% of the difference between its total assets of $235,968 and its current liabilities of $67,653. The 2008 ratio of 22% is a more accurate representation of the corporation than the 2009 ratio (Niven, 2006).

In addition, the company's net margin ratio for 2009 was 7 percent. This demonstrates that the company's profit margin of $16,759.00 represents only 7% of its net revenues of $230,272.00. The 2009 ratio provides a more accurate view of the corporation than the 2008 ratio, which was merely 6 percent (Robinson, 2008).

In addition, the company's accounts receivable turnover rate for 2009 was 814 percent. This indicates that the company's net revenue of $239,396 exceeds its average accounts receivable by 814 percent. The 2008 ratio of 1,234 percent portrays the corporation more accurately than the 2009 ratio (Robinson, 2008).

Moreover, the company's overall asset turnover in 2009 was 103 percent. This indicates that the company's net revenues of $239,272 represent 103 percent of its average total assets of $232,103. The 2008 ratio of 105 percent provides a more accurate picture of the organization than the 2009 ratio (Robinson, 2008).

Liquidity

In terms of liquidity, the company's current ratio in 2009 was 91 percent. This demonstrates that the company's current assets for 2009 are 91 percent of its current liabilities, which are $74,535. The 2008 ratio of 95% provides a clearer picture of the organization than the 2009 ratio (Smith, 2007).

In addition, the company produced an acid test ratio of 0.58 in 2008. This indicates that the company's cash, receivables, and marketable securities total of $43,046,00 represents 81 percent of its current obligations of $74,535,00. The 2008 ratio of 0.66 provides a more accurate picture of the company than the 2009 ratio (Smith, 2007).

Reduction Ratio

In addition, the company's debt-to-equity ratio in 2009 was 131 percent. This demonstrates that the company's entire debt is 131 percent of its total equity, which is $102,113.00. The 2008 ratio of 148 is a more accurate representation of the corporation than the 2009 ratio (Smith, 2007).

The Investor Ratio

In 2009, the company made $1.31 per share in terms of earnings per share. The 2008 ratio of $1.48 provides a more accurate picture of the corporation than the 2009 ratio (Smith, 2007).

Comparing the liquidity ratios of the two companies for 2009, BP's current ratio of 0.91 is lower than Shell's current ratio of 1.14. In 2009, BP's quick ratio of 0.58 is lower than Shell's quick ratio of 0.81. In terms of profitability, BP's return on total assets in 2009 was 0.07, which was more than Shell's return on total assets of 0.04. In 2009, BP's return on equity ratio of 0.16 is more than Shell's return on equity ratio of 0.09. For the year 2009, BP's return on capital employed ratio of 0.16 is greater than Shell's return on capital employed ratio of 0.10. In 2009, BP's net profit margin ratio of 0.07 is more than Shell's current ratio of 0.05 In comparison to Shell's financial performance, BP presented a more accurate financial picture of the corporation.

Briefly, both BP and Shell performed well in 2008 and 2009, however certain ratios show that BP performed better. Nonetheless, Shell outperformed BP in some financial statement ratios. Overall, BP's financial statement ratios were more favorable than those of Shell's. In 2009, BP performed better financially than Shell Company based on a comparison of their financial statement ratios.

References

Analysis of Financial Statements by Maguire, M. London, Grin Publishing.

Mayo, H. (2007). An Introduction to Investments. London, Cengage Publishing

Real Options Analysis: Tools and Techniques for Evaluating Strategic Investments and Decisions, by J. Mun, 2005. John Wiley & Sons, London.

Niven, P. (2006). Step-by-Step Balanced Scorecard: Maximizing Performance and Sustaining Results. J Wiley and Sons Press, New York.

International Financial Statement Analysis Workbook, by T. Robinson, 2008. J. Wiley & Sons Press, London.

Business Process Management and the Balanced Scorecard, by R. Smith, 2007. New York, New York: J. Wiley and Sons

Stickney, C., Financial Accounting, Cengage Press, London, 2009.

Managerial Accounting: Tools for Business Decision Making, by Weygandt, J. Wiley & Sons, London

Appendix

Company BP 2009

LIQUIDITY RATIOS

The current ratio equals current assets.

Current Liabilities

= 67,653.00

74,535.00

= 0.91

ratio of current assets to marketable securities

Current Liabilities

= 43,046.00

74,535.00

= 0.58

Total Assets Return = Net Income

Total Assets

= 16,759.00

235,968.00

= 0.07

Return on Equity Equals Net Profit

Stockholders’ Equity

= 16,759.00

102,113.00

= 0.16

Return on Capital Employed = Profit Prior to Interest and Taxes

Total assets – Current Liabilities

= 26,426.00

168315

= 0.16

Net Profit Ratio = Net Margin Ratio

Net Revenues

= 16,759.00

230,272.00

= 0.07

Net Sales Accounts Receivable Turnover

Accounts Receivable Average

= 239,272.00

29,396.00

= 8.14

Total Asset Turnover Equals Net Revenue

Total Average Assets

= 239,272.00

232103

= 1.03

Equivalent to Total Debt

Total Equity

= 133,855.00

102,113.00

= 1.31

Investor's Ratio = Per-share Earnings

= 88.49

Shell 2009

The current ratio equals current assets.

Current Liabilities

= 96,457.00

84,789.00

= 1.14

Quick ratio equals Cash plus Receivables plus Marketable Securities.

Current Liabilities

= 69,047.00

84,789.00

= 0.81

Total Assets Return = Net Income

Total Assets

= 12,718.00

292,181.00

= 0.04

Return on Equity Equals Net Profit

Stockholders’ Equity

= 12,718.00

138,135.00

= 0.09

Return on Capital Employed = Profit Prior to Interest and Taxes

Total property minus current liabilities

= 21,562.00

207,392.00

= 0.10

Net Profit Ratio = Net Margin Ratio

Net Revenues

= 12,718.00

278,188.00

= 0.05

Net Sales Accounts Receivable Turnover

Accounts Receivable Average

= 278,188.00

70,684.00

= 3.94

Total Asset Turnover Equals Net Revenue

Total Average Assets

= 278,188.00

287,291.00

= 0.97

Equivalent to Total Debt

Total Equity

= 154,046.00

138,135.00

= 1.12

Investor's Ratio = Per-share Earnings

= 2.04

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Starwood Hotels And Resorts’ Parity Situation Essay Help Site:edu

Introduction

Starwood hotels and resorts is a company that owns, operates, franchises, and manages hotels and resorts throughout the world. It was founded in 1969 but incorporated in 1980. Parity is the condition or state in which two or more organizations have the same power, value, or position. Parity is also the condition of value equivalence at a particular ratio between several types of goods. Moreover, it is the equivalency of a currency's worth when represented in terms of another currency from a different country. This study report outlines why Starwood hotels and resorts in the hospitality sector experience and do not enjoy parity.

Starwood hotels and resorts have achieved parity.

The majority of hotels and resorts run by Starwood employ this concept of equality in certain areas, such as providing guests with the same level of service. They are under the same management, and because they adhere to the same principles, the quality of their services is same. This assists students in becoming proficient in the hospitality industry. In addition, they offer discounts, such as price reductions on meals and lounges during certain times of the year. They also provide discounts to customers who stay at least five nights in their flats. In addition, they provide discounts to customers who book directly with them during certain seasons. In these hotels and resorts, this form of equality has been highly beneficial.

The other way in which Starwood hotels and resorts achieve parity is through the provision of buddy prices. This is where they provide a unique discount code through email to their guests following their visit, requesting that they inform their friends. It is specified when this offer should be booked. In most circumstances, a reward or specific discount is offered to guests who will be bringing a large group of friends. However, guests who book through a third party receive a five percent discount and are encouraged to book directly at a smaller discount. Star hotels and resorts also achieve parity when they provide complimentary upgrades to business customers and their families. This encourages customers to reserve a family room for their subsequent stay.

Most hotels and resorts charge a premium for their services and then add value to these offerings. For instance, they provide a bicycle to a client so that he or she can explore the city after dinner, and charge $6.00 per night to include a bicycle. In addition, they give museum tickets and upgraded rooms to guests. They also provide travelers with buses and drivers that transport them to the desired destinations. Then, a fixed percentage of the increased value to a service is charged. This widespread adoption of parity has had a good impact on hotels and resorts. All Starwood hotels and resorts' shares are listed and sold under the symbol "HOT" on the New York Stock Exchange, therefore their interests are identical. In addition, the net revenues from the sale of securities are utilized for the corporation's general welfare.

Starwood hotels and resorts are not treated equally.

According to Starwood hotels and resorts' revenue management, it is challenging for them to achieve parity. This is due to the fact that hotels and resorts are located in different areas (different countries).

Seasonal variations in commissions and booking fees make it difficult for the administration to maintain price parity. Therefore, price rates must be continuously maintained, which is challenging because they cannot be consistent with their prices. Additionally, extra values are charged at varying prices. In nations with developed infrastructures, such as roads, giving transport services to visitors as an additional value is less expensive than in countries with underdeveloped infrastructures. Therefore, customers who travel to developing nations pay more than those who travel to wealthy nations because the rates cannot be equalized.

However, Starwood hotels and resorts strive to provide the same quality of service to their guests in different nations, despite the fact that technology varies by region. Some nations are more technologically advanced than others; hence, technologically advanced nations provide greater services than others with inferior technology. Therefore, the quality of services and the value added to these services varies by country or season.

Conclusion

In Starwood hotels and resorts, the rates, values, and prices are comparable. They also experience parity regarding the use of net revenues from the sale of securities, as the funds are used for the corporation's general welfare. Because they are traded on the same market under the same symbol, hotels and resorts also experience parity on dividends and capital gains. However, this is not the case for these hotels and resorts. This is due to the fact that advancements in various nations are not comparable, and as a result, the quality and cost of their services vary.

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Partexceltron: HR Strategy And Personnel Management Essay Help Site:edu

Table of Contents
Introduction alternatives to Parlexceltron Evolution of HR strategy and Personnel Management HR Managers' Function in Organizational Development Conclusion References

Introduction

Employees are an organization's greatest asset. They contribute to the growth of the company via hard work and commitment. In exchange, management recognizes and honors employee accomplishments. In order to accomplish advancement, a business may hire additional personnel for management and production tasks. Sometimes, in order to facilitate commercial expansion and physical convenience, a firm will relocate in order to accommodate its growing workforce.

The current business, Parlexceltron Ltd, was founded ten years ago. Since the company's founding, the managing director, Jack Stevens, and his wife, Kate Stevens, have exerted great effort to propel it to new heights. Initially, there were just 15 employees, but as time passed, more workers were hired and the company today has 106 employees (Hollings 2006& 2009).

Parlexceltron Ltd. is a medium-sized family business that produces micro chipboards for the consumer market. They are doing exceptionally well on both domestic and foreign markets. Expansion was unavoidable, therefore they attempted to move the factory to a different location. However, the staff opposed the move. The administration was in a bind and cannot determine the cause of the opposition. For, the relocation was initiated solely to protect the employees' interests (Hollings 2006& 2009).

After four years, the company was able to establish a strong reputation for quality, prompt delivery, and excellent customer service. Given the increase in the number of consumers, Jack Stevens was need to consider expansion. Therefore, the business relocated to a new industrial complex with more units and personnel. Consequently, productivity grew by 15%. (Hollings 2006& 2009).

Kate's provision of new infrastructure for the employees' benefit was the primary reason for the improvement in production. Their two sons, Simon and Martin, also joined the firm, which flourished substantially. Simon studied Business Management and oversaw the company's marketing and sales division as Commercial Director, whereas Martin decided to manage the company's machinery and equipment. Martin was not welcomed by the company's employees, who were fond of production manager Jones, when he joined. Kate and Simon decided to intervene to resolve this situation (Hollings 2006& 2009).

Microchips have been requested from Parlexceltron by a German corporation. And in order to meet their demands, management decided to diversify the firm. However, Jones objected to the change, arguing that the employees were already working at full capacity and cannot handle additional responsibilities. In addition, the employees were unhappy with the pay disparity because they anticipated redundancy if the company moved to a new production unit. To break the impasse, the management must take aggressive moves on its own without losing the employees' support, while simultaneously inspiring them to work at the new plant location (Hollings 2006& 2009).

alternatives to Parlexceltron

The management must choose a future plan of action to prevent production interruptions. Since the employees view Jones as their leader, he can communicate with them and become the greatest person to settle employee difficulties. He can address employee concerns and forward them to management in order to have them rectified. The management must devise a reasonable pay structure and overcome the redundancies by gaining the employees' trust and persuading them of the benefits of relocating the plant to a new location. This can be accomplished if the company hires an effective H.R. Manager who can connect positively with the staff (Hollings 2006& 2009).

In this instance, it is evident that the workplace is rapidly and frequently undergoing change. This transition necessitates intervention in order to accept new challenges, and human resource managers do know how to mitigate the hardship of such adjustments. The ability of an HR manager to manage change is directly related to how he handles reactive and proactive answers (Simmering, 2010).

There are two types of changes. The first is proactive, whereas the second is reactive. A corporation engages in proactive change when it attempts to alter the working environment. The corporation that employs a proactive strategy avoids itself from falling victim to future threats. Reactive change occurs when a company modifies its present pattern of practices in response to specific risks from the workplace and business authorities. The management reacts to these changes and that is why it is called reactive change (Simmering, 2010). (Simmering, 2010).

Defining Business Model

According to Rappa (2003), a business model is "the method of conducting business by which a company can remain profitable." The concept of business model applies to all businesses. Although the phrases are often used by academics and human resource managers, no in-depth research has been conducted in this area as of yet (Weill et al, 2004).

There are various theoretical models of change that describe how a company might modify its business practices and organizational structure to enhance its business conduct. Different firms use change models based on their requirements, and by doing so, they are able to achieve greater success (Simmering, 2010).

Lewin's three-step change paradigm.

Swinton (n.d.) asserts that well-known social psychologist Kurt Lewin was the first to propose the three-step model for the concept of force field analysis. His design is straightforward and effective. Effectively addressing the driving and resisting forces of a change requires allowing the driving factors to subdue the resistant forces during the transition process. Managers must vigorously encourage change to overcome employee resistance (Simmering, 2010).

Different change models:

(Simmering, 2010). Bullock and Batten's model

This model of change was created by R.J. Bullock and D. Batten. In addition to integration, they employ research, planning, and action when planning a change in an organization's conduct. This model has been effective for bringing about organizational change. The elements of investigation, planning, and action are supported by integration, and all are carried out in distinct phases to bring about the necessary change (Simmering, 2010). Eight steps

John P. Kotter conceptualized the eight steps paradigm of change. According to him, any organization must complete eight tasks to implement change. These eight measures are chosen to maintain the organization's urgency, coalition, vision, and strategy (Simmering, 2010). The mathematical equation of Beckhard and Harris

This model illustrates the element of change through a mathematical equation. If a change is to occur, the cost of change is represented by (X), which must be exceeded by discontent to reach a status quo represented by (Y) (A). Here, the suggested modification is deemed to be (B) and the change's practicality as (C) (D). When employees are dissatisfied, resistance to change emerges (Simmering, 2010). Guest Model:

According to Bratton and Gold (1999), the Guest model classifies the inputs and outputs of HRM's operational field. This model is applied to the creation of HR manager activity roles in order to combine them with normative frameworks of strategic integration, commitment, quality, and adaptability.

HR strategy and Personnel Management Evolve

According to (Strategic Human Resources Practices, 2010), the HR strategy's creation and implementation are aligned with the organization's goals. It is aligned with the organization's competencies and produces measurable outcomes for employees, customers, and stakeholders. When the business profile is altered, matching management innovations will be implemented, resulting in improved relationships with customers, suppliers, competitors, etc. These changes must be reflected in evolving human resources roles and responsibilities, among other things (Coates, n.d.).

The Harvard Business School created the notion of human resource management three decades ago. Prior to this, businesses were assessing the viability of designating the notion personnel management or employment department. In the early 1920s, the concept was affectionately referred to as the "time office" or "welfare department." Whatever it is, the concept is systematically developed, and HR management actions are determining factors in developing collective employee relationships (Human resource management in an expanding Europe, n.d.).

HR Managers' Function in Organizational Development

Merlevede (2005) indicates that HR Management will tend to match HR tools with the company's culture and business plan in relation to the employee's motivational features. According to (Price, 2007), many people have a vague understanding of HRM. According to Schein, a company's worth consists of teamwork and cooperation between its people (2009). According to Bratton, strategic HR management is the connecting of human resource activities with the company's goals in order to increase performance (n.d.). But according to Tannir's (2007) research, HR managers are the guardian angels of an organization. However, Monks and Maclean (2001) argue that HR and business strategy congruence is not required in the logical and sequential process of developing a business model. However, according to Hellor (2009), the Performance Matrix predicts the potential of individuals, which HR managers can then enhance. It is the responsibility of HRM to respond to staffing needs and make hiring and recruitment decisions (McNamara, n.d.).

Conclusion

If employees do not cooperate with management during the manufacturing process, it will become increasingly difficult for the organization to meet the needs of its customers. They cannot afford to lose already-trained staff since the business would suffer in the long run if they do so (Hollings 2006& 2009).

A change is implemented for the betterment of management, staff, and the enterprise. If the change fails, it indicates that the adopted change model is inappropriate for the organization and must be replaced with one that better answers the organization's and its employees' needs. If employees are satisfied, the business will attain more success. Otherwise, the business could perish. Therefore, it is essential that management gain the trust of employees and inspire them to work harder (Hollings 2006& 2009).

References

1999. Bratton, J., and Gold, J. Human Resource Management: Theory and Practice, published in London by Macmillan Press

The HR Implications of Emerging Business Models, Coates & Jarratt, Inc. Web site, n.d.

Heller, R., 2009. Web.

Hollings, A., 2006 & 2009. Partexceltron Ltd., Sustaining Success or Confronting Defeat

Human resource administration in a growing Europe (2010) The FedEE Services Ltd.

McNamara, C. (n.d.). Human Resource Management (including Talent Management), from the Free Management Library website.

Merlevede, P.E.C., 2005. Management of Human Resources: An Integral Perspective.

Monks, K., and J. McKackin, "Designing and Aligning an HR System," 2001. Human Resource Management, 11(2), pp. 57–72

Price, A. (2007). Defining Human Resource Management. Contributors to the HRM Guide Network. Web.

Rappa, M., 2003. Managing the Digital Enterprise: Web-Based Business Models. Web.

Organizational Culture and Leadership, authored by E. H. Schein, was published in 2009. Recklies Management Project GmbH. Web.

(2010). Reactive Versus Proactive Change. Encyclopedia of Business, 2nd Edition.

Strategic Human Resources Practices (2010), eCornell Web site.

L. Swinton (n.d.) Force Field Analysis by Kurt Lewin: Decision Making Made Simple. Web.

Challenges of Human Resources Management in the 21st Century, by M. Tannir, 2007. Web.

Weill, P., Malone, T.W., D'Urso, V.T., Herman, G., & Woener, S., 2004. Are certain business models more successful than others? An Analysis of the 1000 Largest US Companies. Web.

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Emerging Issues In Cross-Cultural Training Essay Help Site:edu

Introduction

Global mobility of the labor force looks to be one of globalization's most significant effects. People can work in practically every country in the globe nowadays, and working for a multinational corporation makes it even easier for them to take advantage of these opportunities. Numerous researchers have been driven by the high stakes involved with international assignments to investigate personal factors and interventions that can boost the success of such transfers. In regard to this issue, training and development of expatriates have become particularly attractive issues, as training can facilitate adaptation and improve the performance of expats. Cross-cultural training has been extensively studied by academics and implemented in worldwide HR practice (Kealey & Protheroe, 1996; Deshpande & Viswesvaran, 1992; Osman-Gani & Rockstuhl, 2009). Cross-cultural training is defined as the educational practices designed to enhance intercultural learning through the development of the affective, cognitive, and behavioral competences necessary for establishing effective relationships in varied cultural situations (Morris & Robie, 2001; Landis & Brislin, 1996). CCT focuses on aiding the transition of expatriates to their new culture, roles, and organizational dynamics, and experts believe that it contributes to adaption (Brewster, 1995; Caligiuri et al., 2001). When expatriates encounter few or no acculturation challenges, they become more effective in their international tasks, which increases the likelihood of success.

To guarantee that CCT fulfills its promise, however, the research must address several growing concerns. First, not every cross-cultural training is equally valid, so it is vital to examine multiple models and frameworks in order to establish a CCT training model based on empirical facts. Second, it remains uncertain whether or not the expatriate's family should also undergo training. If the positive impacts of CCT extend to family members and influence their adaptation, this could have a substantial impact on worldwide training and development practice. In recent years, technological innovation has provided a favorable atmosphere for multinational virtual teams. Cross-cultural training could aid HR professionals in assisting these groups in their work. This literature review examines the available scholarly information on these growing challenges and explains the clear gaps in the research. Following the investigation, the implications for international human resource management will be discussed to illustrate how the information can be implemented in practice.

Critical Analysis

Effectiveness of Cross-Cultural Training for International Employees

The significance of cross-cultural training stems from the fact that the success of international organizations is typically dependent on the expatriates they hire (Gupta & Govindarajan, 2001). Consequently, training provided to expatriates could potentially contribute to the performance and growth of organizations (Tung, 1987; Black and Gregersen, 1990; Goldman, 1992). Adjustment is the fundamental result of cross-cultural training interest. Caligiuri et al. (2001) and Brewster (1995) concur that cross-cultural adaptation influences the success of an international assignment. Yet, the conclusions of the evidence offered by scholars regarding the efficiency of CCT vary.

Numerous authors have emphasized the positive impacts of cross-cultural training on the adjustment of expatriates. According to the literature, there is a positive relationship between CCT and adaptability, while cross-cultural adjustment is positively related to performance and negatively related to early return rates (Deshpande & Viswesvaran, 1992; Caligiuri et al., 2001). Other studies (Kealey & Protheroe, 1996; Deshpande & Viswesvaran, 1992) have also concluded that CCT is beneficial because it enhances the development of the skills required to successfully complete international tasks. A number of researchers have also analyzed the efficacy of CCT in enhancing expatriate performance. Morris and Robie (2001) identified a generally positive association between CCT and expatriate performance, although their results were inferior to those of earlier meta-analyses on the topic and their effect sizes were smaller. Some recent research have also demonstrated the positive effects of CCT on adjustment and performance. For instance, research done in Nigeria by Okpara and Kabongo (2017) revealed that, despite the fact that the effect size relied on the type of CCT applied, the participants' adjustment scores were generally higher after CCT than before. A study by Chen (2015) should also be emphasized because it assessed not just the adjustment of expatriates, but also their engagement, which has been shown to affect performance. The study concluded that CCT was favorably connected with job engagement and supported the association between cultural intelligence and the participants' adjustment (Chen, 2015). Wang and Tran (2012) examined several facets of adjustment, including general, interpersonal, and occupational, and found that post-arrival training and language instruction had the greatest impact on these results.

However, there were also studies that did not confirm the conclusions regarding the efficacy of CCT or revealed its harmful impact on expatriates. Analysis of the CCT literature by Mendenhall et al. (2004) revealed that the number of studies reporting neutral outcomes of CCT in terms of behavior, attitudes, and cultural knowledge is nearly equal to the number of studies demonstrating its efficacy, although research focusing on adjustment highlighted more positive outcomes. Morris and Robie (2001) similarly stated that CCT outcomes varied between trials and that, at the time of the survey, there were no apparent explanations for these differences. In their evaluation, Puck, Kittler, and Wright (2008) reached the same conclusion and encouraged further research into the factors that reduce or restrict the benefit of CCT. According to a meta-analysis conducted by Hechanova, Beehr, and Christiansen (2003), the overall effect of CCT on adjustment was negative, hence presenting additional paradoxes to this academic topic. Recent study indicates that this issue has not been adequately addressed. Moon, Choi, and Jung (2012), for instance, claim that research on the elements impacting the CCT's effectiveness in various circumstances is sparse. Individual characteristics, such as prior international experience and goal orientation, may have a substantial effect on the relationship between CCT and adjustment, as demonstrated by their research (Moon, Choi and Jung, 2012). Variations in training were also shown to be associated with its efficacy, with specialized and express instruction having little statistically meaningful impact on adjustment (Moon, Choi and Jung, 2012). Another study in the same location shown a neutral effect of CCT on performance and adjustment outcomes, despite the positive opinions of the intervention among the participants (Qin & Baruch, 2010). Variations in reported outcomes demand additional research analyzing the efficacy of CCT and investigating individual and organizational factors that restrict or enhance it.

Family Participation in Intercultural Training

Some experts have emphasized, over the years, the need to involve families in cross-cultural transitions in order to facilitate the adjustment of expatriates. Black and Stephens (1989) and Caligiuri et al. (1998) underlined the beneficial association between spouse adjustment and expatriate adjustment in their early research. Later research found that wives and children who were able to quickly adapt to a new country had a positive impact on the outcomes of overseas assignments (Cole 2011; Copeland 2004; Larson 2006; Takeuchi et al., 2002). Studies that focused primarily on expatriate performance demonstrated the importance of family adjustment. According to Hays (1974) and Tung (1981), the family had the greatest potential for boosting the performance of expatriates, and the inability of spouses to adapt posed the greatest barrier for corporations in overseas assignments. McNulty (2005) also suggested that the lack of spouses' support, which led to adjustment failure, was the primary reason for the failure of assignments and an increase in transfer costs. Black, Mendenhall, and Oddou (1991) confirmed this viewpoint, stating that “the expatriate may possess the necessary skills for successful international adjustment, [but] if his or her spouse does not possess the same skills, an assignment may be terminated because the spouse or family members cannot adapt to the new culture.” (p. 295). One possible explanation for the impact of spouses and family members on the transition of expatriates is that they get more connected with the host culture than the employee, who is primarily focused on finishing the assignment (Hiltrop and Janssens, 1995). When an expatriate fails to quickly adapt to the host culture, it either forces them to resign their assignment or increases their stress, creating delays and performance mistakes.

Despite data highlighting the significance of spouse and family adjustment to the success of international assignments, there are considerable gaps in the practical application of this knowledge. On the one hand, cross-cultural training, which could facilitate adaptation, is often only provided to the expatriate, while their family receives little training and little support (Bhagat and Prien, 1996; Gupta, Banerjee and Gaur, 2012; Littrell and Salas, 2005; McNulty, 2012). This might contribute to the practical difficulties encountered by international corporations if their employees fail to complete assignments because their families are unable to adapt.

Conversely, there are few research papers that could give a framework for the application of cross-cultural training to the families of expatriates. Some authors have investigated the experiences of expat wives and children in attempt to model their adaptation (McNulty, 2012; Rosenbusch, 2010). Teague (2015) advocated adapting social learning theory in order to provide cross-cultural training for couples in order to facilitate their assimilation. However, there is a dearth of research examining the impact of spouse or family CCT on the adjustment and performance of expatriates in abroad postings. This inhibits organizations from adequately addressing this element, which may raise the chance of assignment failure.

Cross-Cultural Education for Virtual Teams

The application of CCT to virtual teams is a further rising problem of vital importance. Modern technologies have contributed to the expansion of online firms by enabling employees to work freely in virtual environments. People can now work across national borders without having to physically travel. Consequently, virtual teams are culturally varied and provide a new cultural milieu for employees, which may present the same difficulties as expatriation (Keefe et al., 2016). In general, the research recognises the significance of culture in the work of virtual teams.

Prior research on culture in virtual teams revealed that cross-cultural barriers are a substantial obstacle for virtual teams that may hinder their performance. According to Keefe et al. (2016), multicultural teams frequently experience a lack of coherence in business procedures and communication, resulting in performance-impacting crucial gaps. Cultural variations also lead to different communication and interaction styles (Duran and Popescu, 2014; Krawczyk-Bryka, 2016), making multicultural communication a particularly difficult concept. According to Vinaja (2003), language problems might impede project communication by limiting the participation of particular team members or causing confusion. In addition to the concerns listed, Oertig and Buergi (2006) mention cross-cultural issues such as lack of trust, decreased teamwork, bad interpersonal interactions, and conflicts.

Organizations must cultivate cross-cultural communication, cultural awareness, and cultural adaptability if they are to overcome these obstacles and increase the success of virtual teams. It is hypothesized that training influences these variables (Derven, 2016; Eom, 2009; Zakaria, 2017). Despite this, the application of cross-cultural training in virtual teams remains understudied, with few initiatives to fill this void. A recent study by Presbitero and Toledano (2018) demonstrated that cross-cultural training for global virtual team members increased their cultural intelligence, resulting in improved individual task performance and enhanced group cohesion. Other than this study, no studies on the outcomes of CCT in multicultural virtual teams were located. According to Brandl and Neyer (2009), the academic literature in this topic lacks both theory and empirical tests, therefore organizations cannot use CCT to improve the performance of their virtual teams.

Vacancies in the Literature

As the literature review demonstrates, there are significant gaps in the research on the three highlighted developing concerns in cross-cultural training. Prior research has demonstrated wide variability in the outcomes of CCT, raising doubts about its efficacy. It is essential to evaluate the effectiveness of CCT in order to justify and direct its deployment in international organizations. Variability in outcome measurements is one problem that has hampered earlier studies. Some researchers emphasize cultural adjustment as the key variable, however not all studies differentiate between the various types of adjustment. Other metrics, such as expatriate performance and assignment success, are also diverse. However, as the factors influencing the success of cross-cultural training are similarly understudied, it is not possible to explain these discrepancies thoroughly and assist organizations in making CCT-related decisions.

Second, a study of the relevant research reveals that spouse adjustment is crucial to expatriate performance and assignment success. The dearth of study on training for expatriate's spouses and family members further restricts practice in the field of CCT, despite the abundance of data confirming the importance of spouse adjustment to this process. By examining the influence of spouse or family CCT training on the adjustment and performance of expatriates, future research will substantially contribute to the theory and practice of CCT around the world.

In addition, the literature analysis revealed substantial shortcomings in the application of CCT inside virtual teams. It is obvious from the analysis of the background material that cross-cultural contacts are crucial to the success or failure of virtual teams. Intercultural communication and interpersonal relationships have become equally important in virtual teams as they are in multinational assignments involving expatriates; therefore, developing employees' skills and abilities in cross-cultural communication or their ability to adapt to a new cultural setting is of paramount importance. In the worldwide training and development literature, however, very few research focused on this problem. Scholars concur that the issue remains largely unexplored, however one study demonstrates that the implementation of CCT in virtual teams yields positive effects. Further research on the subject could aid in determining whether CCT is truly applicable in the setting of virtual teams and in developing guidelines for its implementation inside businesses.

IHRM Repercussions

The resolution of the identified difficulties would have a good impact on IHRM practice around the world, especially in terms of training and development. Because training can be costly and result in losses if the outcomes are not beneficial to employees or the organization, the efficacy of CCT is a major concern for organizations. Ineffective training can raise the likelihood of personnel failing their overseas assignments, exposing the organization to numerous dangers (Hechanova, Beehr and Christiansen; Morris and Robie, 2001). In addition, implementing effective, high-quality training interventions could positively influence the outcomes of overseas assignments, so contributing to the performance and objectives of the organization (Kealey and Protheroe, 1996; Deshpande and Viswesvaran, 1992; Okpara and Kabongo, 2017). Consequently, organizations should address the issue of efficacy at least on a local level by conducting pre- and post-training evaluations and monitoring the results throughout the duration of each assignment to determine whether the training was effective. To prevent financial losses, ineffective training should be modified depending on participant needs or eliminated from the transition plan. Employees working in cross-cultural situations may also be able to contribute, as the issue affects their performance. For instance, they might

Marketing Strategy: Definition And Application Essay Help Site:edu

Strategy and marketing strategy are defined. Importance of marketing strategy

Marketing strategy is a set of well-defined plans that are formulated, implemented, continuously evaluated, and modified with the primary objective of enabling commercial organizations to concentrate on using limited resources to capitalize on the best opportunities, maximize sales revenues, and achieve organizational objectives. In a dynamic business world, firms can differentiate themselves and gain a competitive advantage primarily through marketing initiatives (Hawkins, Roger, Coney and Koch 2007, 112).

Marketing techniques allow businesses to categorize their markets, position their products, and target certain consumers. Business companies with flawless marketing plans are more likely to comprehend their target market, clients, and competitors, and to adapt effectively as their behavioral patterns change due to the dynamic character of these groups (Roger and Peterson 2009, 88).

Figure 1 illustrates the strategic marketing method

The Coca-Cola Firm is an example of a company that has incorporated marketing methods into its business model in order to maintain its position as one of the world's most reputable soft drink companies. As the environment changes frequently, marketing plans typically need organizations to segment, position, and target certain audiences by manipulating the 4Ps of marketing (Wilson and Gilligan 2005, 54-60). The Coca-Cola Company has utilized its diverse product lines of carbonated soft drinks, water, natural juice, and energy drinks to attract a wide range of consumers. Coca-Cola has undertaken a highly effective SWOT analysis before entering numerous markets, taking into account the fact that companies can be leaders, challengers, or followers (Scott 2011, par. 8).

The result of this SWOT analysis enabled the company to clearly comprehend how the political, economic, social, demographic, and legal environments would impact their aggressive business model, thereby allowing Coca-Cola to successfully implement marketing strategies with the most suitable pricing strategy, promotion strategy, distribution strategy, and product strategy (Scott 2011, par. 10). Consequently, if the company had not followed the road of strategic marketing, its current degree of commercial success would be substantially lower.

Apple is another company that has chosen to advertise its products globally using a technologically advanced platform. Steve Jobs, Apple's founder and current chief executive officer, has implemented a superior marketing strategy that has enabled the company to achieve a market leadership position among computer tablet manufacturers with the recent release of the iPad. Additionally, Apple has offered Smartphone and Android phone manufacturers stiff competition by strategically developing the iPhone and targeting consumers who demand technologically advanced mobile phones (Lambert 2008, 62-75).

Apple invests millions in the research and development of technologically superior items and sells them at a premium price after launching very aggressive marketing promotion efforts (Apple Inc 2011). Thus, Apple's better product development method has enabled the corporation to successfully produce superior products employing a leapfrog technique that places its products technologically ahead of all competitors' products (Michael and Kaye. 2005, 132).

By the time their competitors begin to imitate their technology and product approach, Apple will have been able to advance and invest in much better technologies, allowing them to once again defeat their competition. Sony was able to use the same method to manufacture and sell their most recent Bravia Engine Technology, which is used to produce the finest quality LCD panels and 3D televisions (Porter 1990, 188).

If businesses had not effectively planned their marketing function, it would have been extremely difficult for them to fulfill their aims and objectives. Marketing strategy enables businesses to plan against unpredictability and risk, giving them a greater competitive advantage (Roger and Peterson 2009, 36-38). It is extremely difficult for organizations that do not engage in aggressive marketing strategy and planning to effectively respond to the actions and occurrences of other competitors; therefore, it is crucial for organizational executives to incorporate strategic marketing into the daily operations of all marketing departments (Wheelen and Hunger 2002, 314).

Some methods in which marketers can become more effective strategists and utilize strategy to get greater results

Marketers are always tasked with developing high-quality marketing tactics. A strategy is only deemed good if it aids a corporation in achieving all of its goals and objectives; consequently, when experts evaluate the effectiveness of a strategy, they frequently utilize the organization's purpose and vision to justify whether the plan has failed or succeeded (Camillus 1986 104-113). Therefore, marketers and strategic planners can engage in the marketing planning process to guarantee that they produce high-quality, likely-to-succeed plans in a rapidly-changing environment (Hiles 2010, 98).

Figure 1: The Method that enables marketers to develop more effective planning strategies

Marketers that seek to develop highly regarded and effective strategies must engage in a thorough research process and collect all pertinent data to validate the rationale for their strategic choices. Knowing this, a marketer would seek to comprehend the market, clients, and competitors by utilizing SWOT analysis and environmental scanning methodologies so that they may collect all the pertinent facts to support whatever strategic path they choose (Sinkovics and Ghauri 2009, 13-24). On April 23, 1985, The Coca-Cola Company decided to discontinue the original Coca-Cola soft drink and replace it with a new formula. This decision was viewed as a marketing failure and ignominy (The CocaCola Company 2010).

This is because the amount of shock and public outcry that followed this conduct was so great that Coca-Cola sales plummeted significantly. This public outcry was strong indication that individuals responsible for the strategic marketing and planning of this shift were in error because they had not conducted a thorough environmental scan and SWOT analysis of the market's demands, tastes, and preferences, as well as their competitors. It took the Coca-Cola Company's board of directors only about 80 days to reverse that strategic decision (The CocaCola Company 2010). Due to improper execution of the goal-setting and scenario analysis phases, the strategy-setting process failed, and it made no difference if The Coca-Cola Company allocated extra resources to monitor the strategy.

Therefore, if marketers intend to develop more effective strategies, they must have a comprehensive understanding of the business's limitations and strengths when pursuing various plans. In addition, each portion and segment of the target market should be evaluated to determine the demographic factors that may have an effect on the short- and long-term implementation of their strategy (Trott 2008, 106). After all pertinent information has been acquired, it is essential to implement backup plans and ensure that monitoring and control systems are in place.

McDonald’s strategy to acquire market dominance in the Coffee business was not adversely affected by the 2007-2010 recession since the company completed a feasibility study, SWOT analysis, and environmental scanning that enabled the company to implement a cost leadership strategy (Bennet 2006, 42-45). Thus, whereas Starbucks lost ground and market share, McDonald's was able to stable its business model during the recession, as a result of a good market research and planning process that enabled the company to match its goals with those of the market, consumers, and competitors.

Bibliography

2011 Apple Inc. website. Apple Inc.

Marketing Management and Strategy, fourth edition. New York, NY: Prentice Hall, 2006.

Camillus, J. 1986. Strategic planning and management control: survival and achievement systems Lexington Books, Lexington, Kentucky.

Consumer behavior: Developing a marketing plan. Hawkins, D., B. Roger, K. Coney, and E. Koch. McGraw-Hill/Irwin, Boston.

The Definitive Handbook of Business Continuity Management. 2010. Hiles, A. John Wiley and Sons of New Jersey

Supply chain management: procedures, relationships, and performance, by David Lambert, 2008. Supply Chain Management Institute of New York

2005. Michael, A., and J. Kaye. Simplified strategic planning: a no-nonsense approach for time-crunched individuals seeking rapid outcomes. Worcester, Massachusetts: Chandler House Press

M. Porter published The Competitive Advantage of Nations in 1990. Northampton, Massachusetts: The Free Press

Roger, K., and R. Peterson. "Strategic marketing issues: Case studies and commentary." 12th edn. The New York location of Prentice Hall.

D. Scott, 2011. The new rules of viral marketing; how free word-of-mouth propagates your ideas. Web.

Sinkovics, R., & Ghauri, P. New Challenges for International Marketing in 2009. Emerald Group Publishing, London.

2010. The Coca-Cola Company. Coke Lore. Web.

Innovation Management and New Product Development, 4th edition, London: Pearson, 2008.

Wheelen, T. and D. Hunger 2002. Management strategy and business policy. Prentice Hall, New Jersey

R. Wilson and C. Gilligan 2005. Strategic marketing management: planning, execution, and management. New York: Butterworth-Heinemann.

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Steve Job’s Strategies That Made Him Successful Essay Help Site:edu

The majority of businesses achieve operational success when their management executes strategies that are congruent with the aims and goals outlined in their constitution. Steve Jobs was appointed Apple Company's chief executive officer, and he adapted personal and business tactics that contributed to the company's operational success.

Business Strategies

Differentiation technique

It is a technique employed by many companies to raise the competitive advantage of their products by attempting to increase the perceived value of their goods and services relative to the perceived value of their competitors' goods and services. A company can differentiate its products by adjusting the items' characteristics so as to influence the customer's perception of the product.

Steve Jobs revolutionized the software and hardware industries by introducing the windows interface and the mouse technology for standard applications in all software, which accelerated the delivery of services to customers. During the time he was carrying out his duties, he introduced Mac to the software to raise awareness of its existence, tailored Apple products to his target customers, and streamlined the company's product chart by applying market segmentation.

According to Ellison, Steve Jobs' distinctive ability to produce a variety of high-quality items made him a well-known figure, as he is remembered today for his accomplishments, unlike his competitors whose products no longer exist. He worked for Apple, which grew to become one of the most successful firms in the world, because he had a unique vision and a keen instinct for making high-quality goods for his customers.

He introduced the Macintosh interface, which made it simple for humans to interact with computers by clicking on items that appeared on the monitor. In addition, he created software that allowed management to produce computers without following all lines of instruction. Additionally, he changed the Apple II computer's built-in circuitry, which allowed it to communicate with the color video monitor. He designed them and made them user-friendly, intuitive, and machine-compatible, thereby increasing their accessibility. This software package included iTunes, iPhoto, iMovie, and Apple works (Ellison, 2004).

Strategic alliance

This technique suggests that employees should collaborate in order to achieve a particular objective without sacrificing their identity inside a business. It also states that one should have the goal of maximizing earnings and minimizing expenditures associated with conducting the company's operations (Schrage, p. 30).

Steve Jobs instructed the young programmers on how to create the company's goods, enabling them to acquire the necessary skills and knowledge that would result in the production of high-quality products for the company. William Campbell, Gareth Chang, Millard Drexler, Lawrence J Ellison, Arthur D Levinson, and Jerome York were among the CEOs who contributed to the company's long-term planning. Together with these directors, they inked a five-year contract with the Microsoft Corporation in order for the two companies to collaborate on the development of Mac platform technology. Microsoft committed to build all versions of Microsoft Office, the Internet Browser, and any other tools required on the Mac platform because they possessed the knowledge and skills required to ensure that the company's activities were carried out efficiently.

Focus method

This is a strategy that handles the challenge of segmenting the whole market, and focusing on only a few segments enables businesses to offer only differentiated items to each segment. The company produced more than twelve distinct computer models, making it exceedingly difficult for consumers to select a specific model.

It was believed that Steve Jobs had been diagnosed with cancer, yet this did not prevent him from pursuing his goal of running his firm. It was also stated that Steve Jobs was a courageous individual who took risks, and that his company's success increased due to this astute approach to resolving problems. Apple, under the leadership of Steve Jobs, was able to modify their various models to satisfy the varying market demands.

The administration decided to limit the number of models on the market to only two, namely the consumer and professional models. The professional ones were prefixed with Power, while the consumer ones were prefixed with Internet. In turn, this allowed the company to develop new goods and expand its operations. The management of Apple Company indicated that they would establish a research and development budget to enable the company to identify effective ways to compete with its rivals so that it could remain in business for a long time and earn more revenue (Thayer 2007).

Personal strategies

Pursuing a hobby

According to Thayer, Steve Jobs was vital for a dream-oriented individual because he was honest with his job and coworkers, which allowed him to reach the goals and objectives he had set. Wilson remarked that Steve Jobs was devoted to his profession. From the time he worked in his father's garage, he believed that the only way to be happy was to do what one believed to be great. He believed that creating things was necessary for his success. Despite his failures with Apple III and getting fired from his job, he never gave up on his ambitions.

When one has the time, engaging in important pursuits.

This personal strategy asserts that it is essential for individuals to maximize their use of time, as doing so can affect organizational transformation. For example, Steve Jobs emphasized that one should not waste time on other people's problems, but that he would focus on organizational growth concerns that would bring about change. He addressed the problem of cultivating one's courage by carefully following intuition and heart's aspirations in order to create a future life that is richly enriched (Thayer 2007).

One should not be hesitant to begin a project from scratch.

Steve Jobs advocated for remaining focused regardless of the circumstances. For example, he was fired from his work, but this did not prevent him from pursuing his computer career with enthusiasm. He started from scratch to design an income-generating project. Five years later, he had launched the firms Next and Pixar. Later, he joined the Apple Company, where he maintained his activities and contributed to the company's success by utilizing his full potential.

Each day should be lived as though it were the last.

This technique encourages individuals to enjoy their lives to the fullest. Steve Jobs was told he would only live a short time after being diagnosed with cancer, but he lived a long time with the sickness. This horrific experience taught him the importance of appreciating every moment of life, as it is possible to pass away before achieving one's goals. Even if no one can avoid death, there are certain concerns linked with it that motivate people to remain optimistic and make the most of their time on earth (Rodger 2002).

The effective business and personal strategies that Steve Job employed.

Steve Jobs created a variety of machines, including the Macintosh, which became the most popular machine in the world. His charisma and ambition contributed to the development of the company, but this accomplishment was not recognized by the other executive members of the corporation, which led to his dismissal. Even though he had been ignored by a mother who wished to have a daughter, he did not loathe himself but instead concentrated on his future success.

His leadership capacities

These are the talents utilized by management in order to inspire their staff to attain the organization's aims and objectives. Steve was also a very visionary leader who was receptive to new ideas and attempts to put a new spin on old methods. He spent the most of his time interacting with suppliers in order to gain fresh perspectives on how to manage the company's business.

Therefore, it is essential for the management of businesses to implement methods that can effect organizational change. It was observed that Steve Jobs' personal and business tactics influenced Apple Inc.

Notes cited

Ann Brashares. Steve Jobs's motto was "Think Different." 2001, Twenty-first Century Books, Brookfield, CT

2004. Web. Ellison, E. Todd. Personality as a Brand Differentiation Edge.

Gilbert, Jennifer, “Steve Case,” Advertising Age, 2000, p. 134.

Rodger Rafter. The business model and strategy of Apple. The Motley Fool, Web site, 2002.

Shelby Helen Steve Jobs and Four Strategies to Remain Hungry and Unique 2007. Thayer Helen. Web.

Wilson, Suzan. Steve Jobs: Apple Computer's Wizard. Enslow, Berkeley Heights, New Jersey, 2001.

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Marketing Research Of Famous Business Companies Essay Help Site:edu

The study undertaken in the publications is intriguing.

As evidenced by the article “Science Attempts to Blow a Bigger Bubble,” scientists exaggerate their conclusions for their own gain. To avoid scrutiny, the “American Chiche Company” plans to keep its findings confidential. The topic concerns natural phenomena such as chewing, which is complex because it involves several scientific research, but the resulting evidence is disproportionate. The research focuses on its aims and disregards market-influencing elements.

The article "It's Goo, Goo, Goo, Goo Vibrations at the Gerber Lab" is intriguing because the study is conducted on children, who are the consumers, but guardians and parents buy the company's products for the children. As in the case of pet owners, the decision relating to the product selection is dependent on parents.

In the "Rivals Take Off Their Gloves as Taste-Test Wars" Due to the advertisement for “Papa John’s pizza,” two businesses are in competition with one another. Competition has amplified ideas, but it is up to customers to judge which is superior. Indeed, the advertisements assert a superior position by making claims. The corporation uses “taste-testing” to assess its market dominance. Thus, it is intriguing that corporations choose test methodologies that do not contradict their performance requirements to assert their superiority.

The research titled "Is there junk in your trunk right now?" demonstrates that people lie about the research questions rather than being truthful. The corporation is performing a market analysis, but they are sceptical of the research because it may not gather information from consumers.

The most enjoyable marketing research to read

The most entertaining article is "Is there trash in your trunk?"

” The article concentrates on specific goals, which is untenable. Indeed, the researcher must publish a book about what she discovers while conducting research on trash in handbags and automobiles. In compared to the unanticipated results from customers, the metrics utilized during the research were subjective. It was enjoyable to read because the result of a related study revealed complex conclusions, hence complicating the research. In order to avoid confusion, specific hypotheses must be formulated when conducting market research.

Collecting data and modifying items based on marketing research

The information gathered in “Science Attempts to Blow a Bigger Bubble” assists businesses in comprehending the preferences of their clients. This study educated corporations that geographic preferences impact the markets for chewing gum. According to study, Europeans prefer strawberry-flavored chewing gum, whereas Mexicans prefer chili-flavored gum. Using the gathered information, chewing gum firms will make decisions based on prior research findings.

Utilizing research data, the organization may assess its market relevance by analyzing the precise events occurring in its target regions. Future research conducted by Bubble Gum Company will utilize various samples to prevent depending on information that may be deceptive. When developing items for the market, the business is aware of what is expected of it. Companies alter their products depending on this type of research to ensure that their strategies are effective.

They may also use earlier study data to inform their current analysis. According to the gathered study data, the firm can see a consistency in the marketplaces for chewing gum items. When studying and projecting the market, obtained data can be correlated with already-known facts.

In “it’s Goo, Goo, Goo, Goo Vibrations at the Gerber Lab,” businesses profited from gaining an understanding of their customers, their demands, and strategies that can match their interests. The findings make it easier for businesses to identify their rivals in a given market. Researchers determined that the issues faced by food producers are shared by all manufacturing businesses. Using study data, Gerber may make adjustments to remedy their first production errors with infant foods. The data collectors were aware of the precise demands of the children, but they were unable to affect the market without the participation of their parents. Because one variable is dependent on the other, independent study cannot be undertaken.

Utilizing "Rivals Take Off the Gloves" as Taste-Test Wars Management learns from "Heat Up" that consumers value all components and elements before selecting the best. Competitors can employ techniques to shift attention away from an industry's recurring leaders. In the case of Pizza Hut, this is visible through advertising. The research finds that value is a subjective component among individuals; hence, businesses should aim to suit the requirements of individuals in order to achieve growth. The obtained information is used to prevent future sample errors.

Using the report 'Is There Junk in Your Trunk Right Now? ', the company is able to detect the ignored demands of consumers when building its products.

” Rather of initially focusing on a single perception, such as a product’s size, the corporation will apply a variety of ways to meet the needs of the market. McDonald’s formulated market-loss-minimizing tactics based on findings from research.

This research suggests that consumers use their items for uses other than those intended by the maker. Companies modified their products in response to this research by stressing market requirements. Experimentation is conducted on characteristics the company believes correspond with market demands based on data obtained from previous studies. However, if not adequately reviewed, earlier research data can confuse a company's decision-making.

Possible flaws in the collected data

The possible issue with “Science Attempts to Blow a Bigger Bubble” is that the samples chosen may be biased based on the anticipated results of the research. Companies can be misled by erroneous findings while making first decisions. The chewing gum test failed to account for actual laboratory conditions. Moreover, it is obvious that respondents are dishonest when providing information, which leads to a distortion of research results. Limiting data collecting time inhibits the acquisition of accurate data on the ground. To determine the factors that may influence customer preference for chewing gum, the research should be undertaken in multiple situations.

The issue related with “It’s Goo, Goo, Goo, Goo Vibrations at the Gerber Lab” is the costly nature of research as a result of fluctuating product demand. Due to the fact that children's tastes are heavily influenced by their parents' choices, evaluating their level of pleasure poses a challenge for this study. Examining the responses requires a comprehensive examination.

"Is There Garbage in Your Trunk Currently?

” may provide difficulties because the gathered data represents particular individual interests. There is a possibility for information to be distorted due to the conservatism of respondents, particularly in regards to their private lives. When businesses execute change based on the dynamic nature of human needs and desires, the obtained data may become obsolete. When these researchers concentrate on their own ideas and reject rivals, a possible dilemma may develop. Consequently, businesses modify their products based on their studies.

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Analysis Of The Manchester United E-commerce Operations Essay Help Site:edu

Table of Contents
E-Business Extent Internet technology and tools E-Business Models Website Design Reference List

E-Business Extent

The Manchester United website provides significant revenue for the club. The club engages in multiple commercial operations via its website. The club conducts business with its consumers, who are both supporters of the players and other businesses. These are the two sorts of transactions a business can engage in. The transactions between the club and its consumers are referred to as business-to-customer transactions, while those between the club and other businesses are referred to as business-to-business transactions. The club sells tickets and game attire to its supporters. The Manchester United website features a virtual megastore where customers may purchase various branded things as well as posters of squad members. The location of the club is the old Trafford stadium. The club charges a fee for the use of its facilities for conferences, weddings, and other social events. The club maintains a soccer school where individuals can apply to learn how to play football from the club's qualified trainers. The club also provides gambling and betting services for anyone wishing to try their luck. Regular site visitors have the option of becoming members and purchasing discounted tickets. VIP tickets are sold at a higher price to the general public in exchange for unique perks. "Getting closer to greatness" is the motto of an advertisement promoting VIP membership. Regarding business-to-business transactions, the club is sponsored by a variety of organizations, including AON insurance, Epson, Audi, and Turkish airlines. These companies engage into a contract with the club to supply the players with a variety of items, like as apparel.

The club will then promote the products of these companies. On the club's website, the logos of its sponsors are displayed. This is another method for generating advertising revenue. As a highly successful team with a large fan base, Manchester United guarantees that its sponsors receive extensive exposure. Companies can advertise on the website, so increasing Manchester's revenue. Cellphone phone firms promote Manchester United-themed mobile ringtones. The club has also partnered with the financial services company Britannia to give credit card and savings account capabilities to Manchester supporters.

There are numerous benefits to owning a website. The primary financial value of the Manchester United website is that it provides a platform for promoting and selling tickets to matches. On the homepage, there are updates regarding upcoming and previous club matches. As the internet is a global marketplace, the club can promote its items to a large number of individuals. A firm can boost brand exposure through social media, content production, and internet marketing thanks to its website. The club's website encourages visitors to find them on Facebook. Having a website also allows the club to broadcast information about upcoming matches, players, and agreements or strategy. This generates positive exposure for the team while simultaneously neutralizing any unfavorable news from other sources. The club provides its members email updates informing them of upcoming games and other club events. Manchester United engages in corporate social responsibility, as do other companies in the modern marketplace.

They have a foundation that provides football coaching, personal development, and life-changing training to young people. The website keeps the public informed, thereby strengthening the club's public image. The players are also key stakeholders, and the website is responsible for promoting them and generating positive press. A company's website also establishes the company's credibility. Through the site's content pages, one may rely on the club to provide all pertinent news (Lunn, 2011). The website also has a frequently asked questions section and contact information for site managers. They are available to answer inquiries from fans. There is also an interactive forum where fans may discuss the games and ask questions. The scope of the club's activity differs from that of a supermarket in that the supermarket will only sell things. The supermarket will not get cash from sponsorships. The supermarket will not advertise the items of other companies unless they are affiliated.

Internet technology and tools

The website utilizes a number of internet tools and technologies. The website offers live video streaming. It allows supporters to watch Manchester United games via Manchester United television. Fans can watch games and other news, such as interviews, on their personal computers using an online television service. The photos on the website also constantly shifting showcasing different scenes of the team. The site has a Manchester United mobile service that allows supporters to download ringtones, videos, wallpapers, animations, and text alerts to their mobile devices. HTML, the language of the World Wide Web, offers various capabilities. The club website has utilized these features. On the web pages, headings are shown in boldface. The words are hyper-linked, allowing users to click on them and be brought to a different web page. HTML also supports images and color on web sites, eliminating repetitive hues. The club's website makes extensive use of color and imagery. The text boxes on the web sites also feature drop-down menus from which one can select a certain choice. The lists may be bulleted or nested, with additional possibilities to select behind another option. The site also has links to other web pages, allowing users to travel across sites. On the game results pages, tables are used to display the results. When applying for membership, there are forms with textboxes that must be filled out. All of these HTML tools facilitate communication between the club and its consumers. The website utilizes a variety of communication tools, including email, newsgroups, and mailing lists. Email is the most frequent form. When club members communicate with the management, email messages are frequently utilized. With email internet technology, when the sender sends a message, it is first delivered to a mail server before being forwarded to the recipient. Typically, two servers administer the email communications system. These are the simple mail transfer protocol (SMTP) and the post office protocol (POP3) servers (Macura, 2010). SMTP will manage outgoing messages, while POP3 will manage receiving messages.

The Manchester United software will connect to the server to determine if any new mail has arrived. Once the user logs in, he sees a listing of all fresh emails. When a user chooses to read an email, it is downloaded to their computer. The sent or received messages have been divided into packets, and each packet contains the destination address. The routers deliver communications to the location of the recipient. After all packets have arrived at their destination, they are reassembled into a single unit. If the parties communicating are on the same network, the messages are routed via an internal router. For someone to access the internet, a router is required. Due to the nature of e-business communication, the website employs mailing lists as well. On the charitable foundation's webpage, fans are asked to join mailing lists and get updates. When the sender sends an email, it is automatically distributed to all recipients on the list. The mailing lists may be regulated, in which the user can delete duplicate or irrelevant messages, or unmoderated, in which all messages are delivered automatically. This mailing list includes the email addresses of all subscribers. It is an email address database. When an individual unsubscribes, their email address is removed from the mailing list. Additions and subscriptions must be made in response to an email. Additionally, Manchester United's website features discussion forums for users to comment on games and other topics. The term for this is a Usenet newsgroup. It is a global discussion board and internet forum. The administrator introduces a topic, then members express their opinions. Anyone is permitted to post their opinions and thoughts. It gathers the various messages and displays them on the board. Every message is saved on a server. The servers interact with one another. The administrator is able to respond to guest and member posts. The members will submit a response to a fan's earlier comment. The original poster will then post a second message. All of these messages are referred to as threads or threaded discussions. As with mailing lists, the newsgroup may be moderated or unmoderated. When a user adds a comment in a moderated conversation, the administrator reviews the message and determines whether or not to publish it. This is to regulate the conversation and filter out any insults or unsettling remarks. There is also the non-moderated variety. Messages of this type are automatically posted to the discussion board. The Manchester United website is accessible to anyone with an Internet service provider connection. Internet is a worldwide network of interconnected computers. Unless a country has placed restrictions, everyone can access the website. However, there are further limits on the website that limit the information a user can view. Access levels vary based on whether a person is a club member or an employee. The staff of Manchester United have an intranet for sharing policies and other confidential strategic information. In addition, the site features an extranet where the intranet services have been extended to the general public. Members of the site can log in and gain access to the extranet. It incorporates firewalls, access profiles, and privacy procedures.

granting access to individuals from outside the organization (Mcfarlane, 2010). This network access tool often uses passwords and user names to decide which website sections a user may access. The only difference between the Internet, the extranet, and the intranet is the level of network access a user has.

E-Business Models

A e-business model illustrates how a company generates revenue. There are various e-business model types. Manchester United is an e-commerce enterprise with multiple revenue streams. Its sales revenue is the largest source of income. They sell merchandise and tickets to their supporters. Additionally, the site produces advertising revenue. Any company that advertises on the website pays Manchester United because visitors will see the advertisements. It's true that this website receives a great deal of daily human traffic, so its income is unusually substantial. The greater a website's human traffic, the greater its advertising revenue (Wilson, 1999). Additionally, they offer training services through the Manchester Soccer School. Additionally, the club generates sponsorship cash. Different corporations fund the players. They are protected by AON insurance business, and another company provides them with watches to wear. These businesses also have the option to advertise on the website. The club also generates income through entertainment. Some people browse the website solely for the players' and clubs' news. As soon as a user visits the website, the club generates revenue. Members are also required to pay a fee for the services they receive, such as access to special news updates and subsidized admission pricing.

This is also known as subscription revenue. People will subscribe in order to gain access to useful content. Numerous people will be members of the Manchester United website, which is extremely popular. Similar and distinct income streams exist between a grocery and a football income website. It will generate income via the sale of its products, which will be its primary source of revenue. Despite its rarity, it may potentially generate referral income. This occurs when a store does not carry a product but refers the customer to another supermarket that does. However, the supermarket must be a subsidiary or affiliate company. The supermarket can earn a commission based on the number of successful referral sales. This referral income stream will not be viable for the club because it will never recommend Arsenal or Chelsea products to potential clients. The grocery store has no sponsorship income. However, it may be able to generate subscription money if the public subscribes to the website in order to be notified of fresh stock arrivals at the supermarket. Other e-models are not explicitly designed to generate revenue. Non-profit organizations and other humanitarian groups have websites to make information about them and their activities more accessible. Religious organizations may create a website for their members to facilitate communication and not to generate revenue.

Website Design

Search engines are online tools that enable a user to seek certain information or a website depending on the terms used in the search. A website must be easily accessible to the general public, especially if it is a business one. Due to the vast size of the global market, inaccessibility will result non low sales. The search engines connect a user to a website via numerous page characteristics. These include keywords, site content, links, and social media. Manchester United, Old Trafford, and the exact names of the players are among the terms used on the club's website, which a search engine will pick up. The web page's content is an additional crucial characteristic. The website is constantly updated with news on the players. If a user enters a player's name or breaking news words, they will be led to the page. This is because the site's player and game information is always current. Any commercial website must also contain pertinent information. Important information on the website, such as the title, descriptors such as the slogan, the content, and other elements, are marked with HTML tags that drive visitors to the page. The search engines must also index the website so that it is highly accessible. Including the webpage on social networking platforms generates links that lead to the website. Including discussion forums on the website gives links to the club's website. A website should contain three simple elements to facilitate the user experience. Certain features improve the user experience. The site should have straightforward navigation. People should be able to navigate and explore the website. The website should be simple and not at all complicated.

It is essential to include a search box on a website. Customers should be able to contact or inquire with site administrators. The website should contain information about the company or group. A page titled "About us" or, as it is popularly known, "home page." All of these features make the club's website user-friendly. The website must also be appealing to the user. The site's color scheme is vitally significant. Warm, lively colors that stimulate a person should be employed. Mood-depressing colors should be avoided. The red and yellow colors of Manchester United are thrilling. The website should not be monotonous by relying solely on text, but should also include images, audio, and even video. Importantly, there should be excellent content, and the club's often updated web sites continue to engage readers. There are numerous legal criteria for website design. The site should include the website's name or title. The company's contact information should also be included. Email addresses are the primary contact information offered on most websites. Some companies, supply phone numbers. The registered office and geographical location must also be disclosed. This is to make the website and business more accessible. At all times, the prices of the goods being offered should include all applicable taxes.

According to the report, the Manchester United website and its business model generate substantial revenue for the club, and the club has made a substantial investment in the website. The club has multiple revenue streams.

Bibliography

Lunn, M (2011). Major Justifications for Having a Business Website Connected.Content (Online). Web.

Macfarlane, S (2010). Comparing the Internet, intranets, and extranets.

Bright Core (Online). Web.

Macura, K (2010). Internet-based communications Web site RSNAInformatics.

R Wilson (1999). Multiple Revenue Streams for Your Website. Webmarketing Today. Web.

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Domino’s Pizza Firm’s Operational Management Essay Help Site:edu

Executive Synopsis

This paper provides an examination of Domino's Pizza's operational management. It describes the essential business strategies and functional difficulties. The strategic and basic operational issues of the business were analyzed in two important aspects. The adopted strategy was of high quality. The data was gathered by distributing questionnaires to the personnel, management, distinguished customers, and vendors. The subject of the study's research and analysis was the Domino's Pizza business. The population used for the study consisted of 800 individuals. Sixty-six responders were given questionnaires. Using version 21 of the SPSS analysis software, two hypotheses derived from the review of the literature were examined. According to the findings of the study, the operational performance of a corporation is negatively impacted by the improper handling of issues relating to the internal and external environments of the organization, such as those impacting employees, customers, and suppliers. In addition, it was realized that the performance of the business is dependent on efficient operational management, which involves good customer deliveries and supplier processes. They should also include the internal and external business environment.

Introduction

The achievement of business objectives in every organization is contingent on operational management practices that take the needs of its consumers into account. These elements include experience, service delivery, solid supplier relations, and a corporate environment that affords a reasonable competitive edge for maximizing earnings. The most effective operation management strategies include, among others, corporate resource planning, supply chain procedures, and comprehensive quality control. Employee participation in the delivery of excellent services to consumers necessitates the prioritization of performance and service delivery cultures that are centered on the enterprise's vision. Businesses obtain competitive advantages as a result of quality delivery; hence, a larger emphasis on products, services, and customer experiences based on improved quality is essential to the business's success. Other studies have underlined the importance of quality, good service delivery, motivation, and teamwork in boosting corporate performance. This study sought to identify and analyze the factors influencing Domino's Pizza's enterprise performance.

Existing Literature on Key Operational Management Issues

Provision of Superior Outcomes

Numerous academics have observed that enhanced business success is contingent on the quality of operational management. The effectiveness of service delivery is determined by consumer requirements. As a result, the personnel and management are expected to meet customer expectations in order to increase output and achieve market stability. Therefore, managers should strive to exceed these customers' expectations (Kruger 2001).

Methods of Operation

According to Correa et al. (2007), underperforming businesses fail to apply effective operations management and organizational leadership methods. Working strategies should include designs and management networks that produce both high-quality physical output and services that are highly desirable by a large number of clients. There should be a combination of traditional approaches to product creation that emphasize physicality and other tactics that emphasize quality value packaging. The employees should be up-to-date on technological advances and environmentally friendly packaging techniques (Correa et al. 2007).

Process and Product Innovation

Effective product development and method selection should be established with regard to the customer's expectations, experience, and ease of acquiring the merchandise. Essential is a market timing that helps the effective and efficient distribution of the products. Even if a business offers high-quality, competitively-priced goods, the introduction of these products to the market may be flawed due to bad timing. This circumstance leads to a further decline in sales; hence, the business can quickly incur losses due to ineffective operational management. Managers should analyze the business's competition. Therefore, they should employ pertinent strategies to keep a competitive edge over rivals in their industry (Correa et al. 2007).

Supply

Due to inadequate creation of supply networks, which causes congestion, the majority of enterprises incur significant expenses during product delivery to markets. Operational managers should guarantee supply chains are direct and have a minimum number of time- and money-consuming middlemen in order to minimize operational expenses and maximize profits (Fisher 1997).

Design

Businesses engaged in direct delivery of goods to consumers should have a layout that encourages product development (Powell 1995). Increasing high performance by incorporating customer needs into functional designs. Therefore, the organization should emphasize teamwork and accountability. A proper design in product development results in the production of high-quality goods. The designs can also be utilized by management when calculating market-appropriate product costs. In addition, good performance designs or processes result in efficient time management. This arrangement substantially enhances productivity (Fisher 1997). In addition, other factors, such as social, economic, and political issues, influence the decisions of customers; hence, a permanent business requires an effective operational and administrative structure. Process design is a component of business that describes the complexity or simplicity of a manufactured product. It should include the selection of equipment and techniques that are appropriate for the desired level of production (Fisher 1997).

Fisher (1997) revealed that design is also a component in corporate operations as a whole. This component of design takes into account, among other things, the site's location, orientation, layout, and capacity. Managers of operations must ensure proper planning of a comprehensive company capacity to satisfy anticipated production demands. There is a need to identify optimal business sites that facilitate customer and merchant access. This aspect of design should also be considered in terms of the durability of the structure. In designing the enterprise's location, managers should also consider operational expenses, initial capital infrastructure, and workers, among other variables (Fisher 1997). Lastly, and most critically, the nature of the task is a significant element in operational design. Responsibilities should be assigned based on abilities, competencies, and pertinent selection processes that encourage excellent delivery (Fisher 1997).

System planning

Operational managers should be familiar with the enterprise-management systems in existence. They should be informed of any necessary system extensions or replacements. For instance, when production increases, modifications may be required to accommodate the expanding capacity. According to Jung et al. (2008), this condition might also be affected by rising product demand. To improve quality delivery, smaller businesses such as Domino's Pizza may require an increase in equipment installation, a larger workforce, and the deployment of training programs and seminars (Jung et al. 2008).

Leadership and Administration

Leadership and management that are effective engage employees in teamwork in an effort to increase participation. Good leaders increase employee motivation by welcoming their employees' viable suggestions for the development of the organization. Numerous academics have observed that providing employees with opportunity to share their thoughts through participatory approaches facilitates the identification of abilities that are advantageous to organizations (Jung et al. 2008).

Developed Hypothesis and Schema

The research framework was accomplished by assessing issues that impact the operational management and performance of the Domino's Pizza business.

This paradigm inspired the development of the two theories listed below.

Effective operational management practices have no major impact on the performance of an organization. Effective operational management strategies have a substantial impact on the enterprise's performance.

Research Methodology employed

The study employed a qualitative research methodology in which variables were measured and data were analyzed using statistical tools in relation to the tested hypotheses. Questionnaires provided to managers, employees, consumers, and suppliers yielded information. Operation managers and their assistants were selected as the preferred Domino's Pizza business leaders. Employees were selected at random, while customers were given surveys after every fourth purchase.

Upon delivery of raw materials, questionnaires were distributed to the providers. In certain instances, the questionnaires were also conducted at the appropriate collecting stations when such vendors were present. After two days, the questionnaires were collected for analysis. Concerning operational management and business performance, two variables were discovered. These concerns were evaluated based on operational management factors including leadership, planning, design, quality delivery, supply, and operational strategies (Sugiyono 2008).

The research employed a census sampling strategy. In this instance, the questionnaire employed four-point indicators on a Likert scale, with responses scored as 1 – strongly agree, 2 – agree, 3 – disagree, and 4 – strongly disagree (Sugiyono 2008). The instruments' validity was evaluated via the Pearson Product Moment Correlation (PPMC). They were shown to have a 0.3. Any questionnaire with an R-value greater than 0.30 was deemed to have greater validity (Cooper & Emory 2002). Cronbach's Alpha was also used to evaluate the instruments' reliability, and a cut-off value of 0.6 was determined. Both a correlation negative R-value and Cronbach's Alpha were determined to exceed the specified thresholds. Validity and dependability of the tools were therefore suggested for the investigation (Hair et al. 1998).

Table1: Validity and Reliability Test Results

No. Variables Illustration of Cronbach's total correlation

Operational management challenges (x)

0.682 Reliable

Leadership and administration

Planning

Design

Delivery

Superiority of the product

Supply technique 0.522

0.63

0.57

0.733

0.64

0.45

Valid

Valid

Valid

Valid

Valid

Valid

Financial performance (y)

0.644 Reliable

Conclusions and Discussions

Personalities of the Respondents

66 participants were chosen for the study. Male participants between the ages of 25 and 45 constituted 64% of the sample group. Females comprised 36% of the population, and the majority of participants were aged 32 to 40. The respondents' degrees of schooling were also taken into account. The majority of them held postsecondary education credentials. 23 percent of the sample population held a bachelor's degree or higher. The managers held bachelor's degrees, whereas 58 percent of the employees held a high school diploma.

The measured variables revealed a strong association between the education levels of employees and their individual performance in areas such as leadership, planning, supply, delivery, and design, among others. The majority of them had a mean score greater than 3.

At alpha 0.26, the tested hypothesis suggested significance (0.35). This finding demonstrates conclusively that operational management difficulties impact Domino's Pizza's enterprise performance.

Significant at: α < 0.05, t-table=1.950.

Additional Problems discovered

Designs used in Domino's Pizza

The majority of respondents, particularly Domino's Pizza employees, reported that the business's system design is ineffective. The assessment of consumer needs is not handled adequately. Thirty percent of interviewed regular consumers provided evidence of this circumstance. According to the measurements, people were dissatisfied with the quality of market-sold products (Fisher 1997). The majority of employees indicated that the production processes must be enhanced by introducing new equipment and maintaining existing machinery. This predicament has been exacerbated by the region's rising product demand. As highlighted by the management and many employees, there has been significant development in terms of facility layout and capacity enhancement. However, a problem with the enterprise's location impedes its quick development due to a lack of available space and fierce industry competition. The proximity of surrounding motorways has also prohibited Domino's Pizza from expanding.

Costs of Goods

Since they were lower than those of competitors, the majority of Domino's Pizza's customers favored the prices of the company's products. The managers supported the preceding assertion by stating that their items were manufactured due to lower production costs. This circumstance has led to an increase in output and capacity expansion. It has also resulted in the hiring of additional personnel to match the rising production demands. These enhancements have substantially improved economies of scale, and as a result, the company can efficiently control production costs. Domino's Pizza's increasing sales are due to the company's eco-friendly and popular packaging. Almost fifty percent of the examined suppliers and consumers acknowledged this circumstance.

Quality

Regarding service delivery and the availability of clean products that were also required by the clients, the quality was largely praised. In order to ensure product compliance, according to the management, they also gave significant weight to customer specifications. The products are also superior in terms of characteristics such as hue, texture, and diversity. Domino's Pizza has a competitive advantage over its competitors due to the manufacturing of diverse goods that provide customers with a wide variety of options. Most employees boasted about their inventive abilities. In addition, they claimed that the company offers motivation and other rewards to those who create undiscovered products. This circumstance has substantially enhanced the client experiences (Heiser &amp; Render 2004).

Service

Domino's Pizza only confronts an issue with service delivery in terms of transportation, particularly in situations involving long-distance clients who prefer their products to those of competitors. Numerous buyers had concerns about the length of time it took the workers to deliver merchandise to the market. The operations manager stated that these issues are now being addressed. As a temporary solution to the sluggish rate at which products reach the market, the business has also employed two transporters. To increase transportation and distribution of goods to both urban and rural markets, however, additional vehicles must be purchased (Heiser &amp; Render 2004).

Flexibility

As a result of the management's encouragement of incorporation of flexibility into the business, Domino's Pizza has excelled in the delivery of diverse and variable amounts of products to the market. Products can be altered at any time to meet the needs of customers. The company's adaptability is increased when it provides consumers with ad hoc services. This has allowed them to successfully manage its inventory to ensure appropriate production (Fisher 1997).

Domino's Pizza Enterprise Market Order Winners and Qualifiers Figure 1 is a bar graph displaying the percentages of responders about operation management concerns.

Order winner is a characteristic that a product possesses that gives it a competitive advantage over others. Its distinctive attribute enables buyers to rush for the product. In contrast, a qualifier is a characteristic of a product that enables it to meet market competitiveness requirements (Heiser &amp; Render 2004). Domino's Pizza manufactures a variety of flavored ready-made dishes. The analysis demonstrates, however, that the corporation constantly considers the health of its clients. It also provides products for both standard and vegetarian consumers. In addition, the company offers competitively priced, high-quality goods in order to secure both order-winning and order-qualifying positions (Heiser &amp; Render 2004).

Importance of Market Order Winners and Qualified Suppliers in an Alternative Market Segment

Business Processes Management, Re-Engineering Essay Help Site:edu

Table of Contents
Summary of the Responsibilities of First-Line Supervisors Deliver & Track Service Assets Work Group Plans Occupational Priorities Innovations Conclusion Bibliography
Executive Synopsis

In any organization, whether it is a major corporation or a small business, first-line managers are typically entrusted with the most crucial duties. They have direct touch with all of the organization's key enablers. They are superior than the rest of the workforce. They have authority over the company's suppliers. They communicate with customers frequently. Due to their immense responsibilities, first-line managers must possess the appropriate qualities for their role.

As it is well-known that first-line managers are detrimental to the performance of a company, people could not help but compare whether first-line managers in major corporations and small firms fulfill the same duties. The answer might be either yes or no.

In a broader sense, the responsibilities of first-line managers in small and large organizations are identical. First-line managers are constantly required to maintain inventory management, keep customers satisfied, and keep employees busy. Regardless of the size of the business, they are all responsibilities of first-level management.

When examining the more specific core responsibilities of first-line managers, the distinction between the first-line managers of large and small enterprises becomes clear. Various reasons contribute to the disparity. First is the number of enablers reporting to the first-line manager, and second is the breadth of business coverage (is it international, local, or just area-wide approach). It should be noted that because first-line managers in smaller organizations have a limited number of subordinates, many of the tasks will be performed directly by the first-line manager himself, whereas in larger corporations, the first-line manager can assign tasks to a number of enablers and will merely monitor their outputs. Similarly, smaller enterprises are typically local or maintain only a region-wide coverage of the business; hence, the specific tasks are typically less demanding. In larger organizations, which often operate internationally or nationally, a number of sections or departments will report to the first-line manager, so increasing his duty.

Introduction

First-line managers have one of the most damaging effects on the company's daily operations. They ensure that all company objectives regarding productivity, employee performance, and customer happiness are met. They act as the link between enablers and company owners, as well as between the company and its customers.

Given the significance of these positions, it is vital to examine whether the functions of first-line managers in large corporations differ from those in smaller businesses. This paper is intended for:

Classifying the expected competencies of first-line managers.

Categorizing the precise responsibilities of first-line managers and how they vary with organization size.

First-Line Managers

The fact that first-line managers cannot be categorized as a uniform group (Mintzberg, 1980) indicates that their role expectations vary and/or rely on the circumstances. However, there are distinct classifications for the roles performed by the majority of first-line managers. Regardless of the size of the organization to which they belong, their roles often fall into these categories. These include (1) interpersonal roles (leader, liaison, and figurehead); (2) informational roles (disseminator, monitor, and spokeswoman); and (3) decisional roles (decider, mediator, and arbitrator) (disturbance handler, entrepreneur, negotiator, and resource allocator). It should be emphasized that first-line managers at different hierarchical levels place varied emphasis on the roles, such that hierarchical level might impact differences in the perceived relevance of each role orientation (Mintzberg, 1980).

In contrast, Patricia Buhler (1998) offers a broader perspective on the tasks of first-line managers. According to her, because it is clear that the current economic trend is changing rapidly, it is also evident that the structures of several firms have altered, therefore affecting and altering the duties of the employees. Obviously, the tasks of first-line managers have evolved to accommodate the changing times.

According to Buhler's (1998) essay, managers (including first-line managers) have four primary functions: planning, controlling, directing, and staffing. Since the inception of organizational hierarchy and/or structure, these administrative functions have been practiced, albeit with a touch of modernisation.

First-line managers have always been required to participate in company planning. It was often assumed that this planning varied by organizational level. That is, top management engaged in greater strategic planning and planned with the longest time horizon. Middle-level managers planned with a medium-term view, whereas lower-level managers focused more on short-term operational planning. Today, however, strategic planning is a requirement for all managers. All managers are responsible for taking a long-term view of the organization, as strategic management tasks are being transferred down the organizational hierarchy (Buhler, 1998).

In terms of personnel, first-line managers are responsible for ensuring that the proper person is assigned to the appropriate position within the business. Today, this responsibility for staffing also include ensuring a match between the individual and the job organization. This means that first-line managers are concerned not just with filling a position with the most qualified candidate, but also with ensuring that the candidate is culturally compatible with the firm. Prior to two decades ago, this factor was not considered in staffing decisions. Today, however, it is acknowledged that certain personality types are more compatible with particular organizational models (Buhler, 1998).

Control has always fallen under the purview of first-line managers. Control is dependent on technology today. The function of control has evolved as a result of technological progress. A portion of control has even been “replaced” by computers, which now monitor employee performance on jobs once overseen by human supervisors. The function of control has also been reconsidered from an ethical standpoint. That is, employees do not want to be managed, and the trend is toward employees exercising self-control (Buhler, 1998).

The guiding function is the final, but by no means least significant, duty of first-line managers. It is the role of the first-line manager to determine the one best way to accomplish the job, and it is the responsibility of the employee to perform the job in that one best way. The management then provided the employee with instructions on how to do the task. Significant decision-making authority was stripped from the employee. However, it should also be mentioned that first-line supervisors should engage in coaching and mentoring in addition to traditional leadership (Buhler, 1998).

First-Line Supervisor Obligations

The duties of first-level managers can differ. This discrepancy may be due to the organization's size. Using the size of the company as an example, there are numerous contrasts between large and small businesses, including:

Quantity of employees. The number of employees or staff may be more in larger enterprises than in smaller ones. Operational sphere. Larger businesses may operate on a greater scale (nationally or perhaps worldwide) than smaller businesses (which can only be on an area basis or just regional).

Consequently, it is possible that the precise tasks of first-line managers in the smaller company will be fundamentally different from those of first-line managers in large corporations.

Deliver and Track Service to the Customer

The first specific essential responsibility of first-line managers is to ensure that items and/or services are delivered to their intended consumer at the right time, in the right manner, and at the appropriate price (Office of the Commissioner for Public Employment). They must ensure that the client is extremely pleased with the product or service and the manner in which it is given. However, the expectation should not be that the first-line manager will physically deliver the goods or service or collect payment from the consumer. His task will be to assign and monitor the performance of the individuals who can deliver the required product or service.

Depending on the size of the organization, this particular critical responsibility will vary slightly. In smaller organizations, a first-line manager may continue to deliver and offer the necessary service or product to the customer. She will personally assist the customer and see to it that he/she receives the desired item. In smaller firms, the first-line manager may also appoint a single individual to supply or provide the product or service, but it will be his or her exclusive responsibility to ensure that the product or service was supplied in the appropriate context.

In larger corporations, the first-line managers employ a variety of individuals to ensure and supervise the supply of products and services. Certain enablers will offer the product or service, while others will oversee the task's completion. However, the first-line manager will periodically evaluate the performance of the enablers.

First-Line Managers' Access to

First-level managers have the authority and authority to employ the company's resources to fulfill its goals (Office of the Commissioner for Public Employment). He is able to determine whether a given resource's allocation and/or utilization will provide substantial benefits to the organization. Therefore, first-line managers can seek replenishment of firm goods, and he can utilize them whenever he deems it necessary for the company and its employees.

In larger organizations, first-line managers are permitted to use or allocate business resources to meet the company's short- and long-term objectives. There may be a number of subordinates reporting to him, each of whom is able to request supplies, assign each resource, and distribute them to each region or department. It will be the responsibility of first-line managers to sign and/or approve each department's requests for resources, ensuring that the demands are ethical and will benefit the company. Even if different subordinates are personally assigned to complete the assignment, it is the responsibility of the first-line manager to maintain the smooth flow of corporate resources in and out.

In small firms, the flow of company resources is still the responsibility of first-line managers. This time, though, he may have restricted subordinates to perform specific responsibilities, such as requesting and allocating supplies. In some cases, first-line supervisors may be responsible for requesting and reallocating resources. He may also be responsible for ensuring that each employee has sufficient resources or supplies for optimal production.

Work Group Plans

Particularly responsible for the creation and implementation of work unit plans are first-level managers (Office of the Commissioner for Public Employment). The plans must match with the vision and objective of the organization. It will be the responsibility of first-line supervisors to ensure that each work unit's plans are established and carried out effectively. In order to ensure appropriate execution, it will also be the managers' obligation to assess if the plans are executed as desired.

In larger firms, the planning is typically initiated by a group leader. Typically, it is accomplished by region or by specialized agencies. Each plan will be approved by each department's or area's enablers, and then the group leader will present the final plan to the first-line managers. Thus, the first-line managers will need to validate that the area or department's plans correspond with the company's overarching objectives. Regarding the implementation and/or execution of the plans, the group leader will be responsible for evaluating the success of each enable in each group unit and communicating the results to the first-line managers.

In most small businesses, there are neither group units nor group heads, as the planning and execution are initiated by the first-line managers themselves. It will also be the managers' responsibility to evaluate the performance of any subordinates.

Information Collection and Evaluation

First-level managers are also expected to collect and evaluate data for the organization's benefit (Office of the Commissioner for Public Employment). The company may require information regarding the competition, the market, and market trends, as well as the movement of the economy in relation to its performance and growth.

For larger organizations, information researchers and analysts are accountable for these activities; yet, all obtained information is reported to the first-line management. The management will then be responsible for evaluating the information provided by the researchers and taking any appropriate action. He can either utilize the information as a basis for the company's strategy or as a point of reference for the company's next required steps or moves. In the end, it will be up to the first-line managers to decide when and how to collect information and what to do with it once it is delivered.

In smaller businesses, first-line managers are typically also responsible for information gathering. The first-line manager will conduct his own research on the market, market trends, and/or the strategies of the company's competitors. After conducting exhaustive investigation, the first-line manager will also determine what to do with the obtained knowledge. He must ensure that any action plan he devises in relation to the information is always to the company's greatest advantage.

First-Line Managers' Work Priorities and Professional Growth

As first-level supervisors, they are responsible for managing personal work objectives and creating opportunities for professional growth (Office of the Commissioner for Public Employment). They are responsible for ensuring that work assignments are assigned to the appropriate staff, taking each individual's abilities and competitiveness into account. In addition, first-line supervisors must guarantee that appropriate compensation is provided and that salary reviews are readily accessible as required.

In larger companies, there is a human resources department and group leaders who verify and evaluate each employee and ensure that wage and salary evaluations are given correctly. In addition, group leaders and/or human resource departments recommend training and development programs for every employee to ensure that their abilities are enhanced and improved. The first-line managers will then be responsible for evaluating the training and/or development proposal and approving it if they feel it applicable for their employees.

In small firms, however, first-line managers are the ones who seek opportunities to enhance their employees. If he has subordinates, he will be responsible for ensuring that they are paid appropriately and that there are opportunities for compensation raises.

Innovations by Front-Line Supervisors

First-line managers are the first individuals required to drive innovation and change within the organization (Office of the Commissioner for Public Employment). They are responsible for ensuring that the ever-changing industry and target market needs are met. Changes and innovations are required on occasion to achieve this objective. And as first-line managers are the ones who monitor the company's information and retain control over its resources, it is only natural that they have the authority to initiate company-wide change.

Before an innovation or change can be suggested and implemented in larger businesses, there are typically numerous protocols and procedures to follow. Several individuals will investigate whether a change is essential, and then different groups of individuals will draft recommendations for the change. The primary duty of the first-level manager is to evaluate each proposal and select the most suitable one for the organization. Before any change can be implemented, the first-line managers may be required to seek the consent of senior management, such as the company owners or investors.

In smaller organizations, it is typically the first-line manager who begins an innovation plan. Before such a change is implemented, he can either implement it himself or consult with the owner of the business. When it comes to smaller businesses, there are significantly less protocols.

Conclusion

First-line managers occupy one of the company's most vital positions. Depending on the size of the organization, the particular responsibilities of first-line managers may vary, but the fact remains that they are ultimately responsible for the company's resources, its people or employees, its level of productivity, and its overall performance.

References

New Patterns of Work. Atkinson, J. (1985), "The Changing Corporation." The United Kingdom: Gower Publishing Company, edited by D. Clutterbuck.

Beder, S., "Selling the Work Ethic," Australian Rationalist 55, no. 5 (2001), pp. 8-13.

Buhler, Patricia. A new role for managers: the transition from directing to coaching, 1998. Bureau of National Research.

Rethinking employment. British Journal of Industrial Relations (UK), vol. 33, no. 4, 1995. Cappelli, P.

Cappeli, P. (1999). The Work of the New Deal. Managing a Workforce Driven by the Market. Cambridge, Massachusetts: Harvard Business School Press.

1980. The Nature of Managerial Work, by H. Mintzberg. Prentice Hall, Englewood Cliffs, NJ.

Draft First Line Manager Competency Framework for the South Australian Public Sector, Office of the Commissioner for Public Employment. Administration of South Australia

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Business Processes Management, Re-Engineering Essay Help Site:edu

Importance of People Management in a Global Context

Companies attempt to differentiate themselves in the era of globalization primarily through their labor force, as imitation is minimal in this context. This demonstrates the significance of workforce management. Personnel contribute directly to Organizational Development, and as change is now a constant, Human Resource Managers face a significant difficulty in adapting employees to these changes.

Organisational Improvement

At the heart of Organizational Development is the concept of an organization, which is defined as two or more individuals collaborating to achieve one or more agreed objectives. In this sense, development refers to the possibility that an organization may become more effective at attaining its objectives through time.

“OD is a long-term effort to improve an organization's problem-solving and renewal processes, particularly through more effective and collaborative management of organization culture, with a particular emphasis on the culture of formal work teams, with the aid of a change agent or catalyst and the application of the theory and technology of applied behavioral science, including action research.

Kurt Lewin (1898 – 1947) is largely regarded as the founder of organizational development (OD), although he died before the mid-1950s. Lewin was the originator of the concepts of group dynamics and action research, which underpin the fundamental OD method and provide its collaborative consultant/client ethos. Lewin established the Research Center for Group Dynamics at MIT, which relocated to Michigan following his passing. Colleagues of the RCGD helped establish the National Training Laboratories (NTL), from which the T-group and group-based OD evolved. Working as closely as feasible with Lewin and his colleagues, the Tavistock Institute of Human Relations was essential in the development of systems theories in the United Kingdom. Important was also the joint TIHR publication Human Relations, while the Journal of Applied Behavioral Sciences is currently regarded as the premier OD publication.

Change management

Change management may take a variety of shapes and encompass a variety of change situations. The most prevalent application of the phrase is organizational change management.

Organizational change management is the process of adopting a strategic approach to organizational transformation. Typically, the goal is to maximize the collective benefits for everyone involved in the change while minimizing the risk of failure associated with its implementation. Change management focuses primarily on the human element of change and is therefore tied to both pure and applied psychology.

Numerous technical areas, such as information technology, have evolved comparable ways to explicitly regulate the process of altering environments.

Change management can be ‘reactive,’ in which case it responds to changes in the macroenvironment (i.e., the cause of the change is external), or ‘proactive,’ in which case it initiates the change to achieve the intended goal (that is, the source of the change is internal). Change management can be handled continually, on a regular schedule (such as an annual review), or as needed for each program.

Change management can be approached from a variety of perspectives and applied to a variety of organizational processes. Information technology management, strategic management, and process management are its most typical applications. Change management must be multidisciplinary and involve all elements of the organization in order to be effective. However, implementing new procedures and technology and overcoming opposition to change are human resource management concerns at their core.

The science of change

Change attitudes are the outcome of a complex interaction between emotional and cognitive processes. Due to this intricacy, everyone reacts differently to change. Change is associated with opportunity, renewal, advancement, innovation, and expansion. Change may also be associated with instability, upheaval, unpredictability, danger, and confusion. Whether employees see change with fear, anxiety, and demoralization, exhilaration, and confidence, or somewhere in between, is dependent on the individual's psychological make-up, management's actions, and the nature of the change.

Change was depicted as a three-stage process in an early model of change established by Kurt Lewin (1951). The initial phase he referred to as "unfreezing." It required overcoming inertia and deconstructing the prevailing "mindset." Defense systems must be circumvented. In the second phase, the transformation happens. This is often a period of confusion. We are aware that the status quo is being challenged, but we do not yet have a plan to replace it. The third and final stage was termed "refreezing" by him. The new mentality is solidifying, and one's degree of comfort is returning to earlier levels.

The ADKAR model developed by Jeff Hiatt (1998, 2006) for individual change management identifies five pillars that an individual must possess in order to successfully implement change. Included among these are awareness, desire, knowledge, capability, and reinforcement. It is the responsibility of management to establish an environment in which these stages can occur as soon as feasible, including:

Increasing understanding of why the change is necessary. Creating a desire to engage and support the change. Developing an understanding of how to alter Facilitating the implementation of new skills and behaviors. Providing reinforcements to ensure the transformation is sustained.

Institutions and Theories of Change Management

Complexity rules govern organizations (the systemic/complexity principle). Emerging data from systems thinking and complexity science suggests that the behavior of huge systems differs from that of its constituent elements. System theory describes organizations as "non-trivial machines" whose behavior cannot be predicted or calculated by a computer (similar to the human body, etc.). These new sciences are used to organizational development and transformation, such as Appreciative Inquiry, Open Space Technology, Systemic Constellations, etc.

We reside in a field that is comprehensive (The quantum principle) The majority of our day-to-day assumptions are still grounded in classical Newtonian mechanics, which are typically applied to organizational tasks. For instance, the majority of individuals would assume that if A is true, B is untrue. Quantum Mechanics teaches us that if A is true, B is true as well – just the other side of the coin – and that A could not exist without B. A growing number of thinkers relate organizational change to Quantum Mechanics, which teaches that if A is true, B is also true – just the other side of the coin – and that A could not exist without B. Observers (or consultants, or leaders) are always a part of a field, which they influence but which has instantaneously influenced them. Examples of Quantum Mechanics' applicability to Change Management: Arnold Mindell's Process Oriented Psychology discusses the field in which each human relationship exists. Its application field, Worldwork, aims to restructure systems by shifting the unconscious roles that people play inside a system. – Dialogue (by David Bohm) is a novel mode of communication in big groups based on the suspension of preconceptions, so allowing the common knowledge of 'container' to develop. – One of the most widely used techniques to organizational change, Appreciative Inquiry, is partially predicated on the notion that change in a system occurs instantaneously (‘Change at the Speed of Imagination’).

Principal Concepts

Listed below are few well-known concepts on which the discipline of Change Management is founded. There is some overlap between these ideas and their application, and the tools produced from them are frequently interchangeable.

A process-oriented approach to psychology. Interaction Centered on the Topic (Ruth Cohn). Analysis of transactions Systemic Thinking / Family Counselling (Virginia Satir and all the new thinkers, including Bert Hellinger, Fritz Simon, etc.) Neurological Programming (Richard Bandler, John Grinder, Robert Dilts). Communication Principles (Paul Watzlawik). Complete System Change (Harrison Owen, Marvi Weisbord, and others). Integrated Quality Management ADKAR (a model used in Change management that integrates corporate change management to individual change management) (a model used in Change management that connects organizational change management to individual change management). Excellence in Change Management: Putting NLP to Work (Martin Roberts Ph.D.).

Formula for Alteration

The Formula for Change, which was created by Richard Beckhard and David Gleicher, is also known as Gleicher's Formula. The Formula indicates that the combination of organizational dissatisfaction, a vision for the future, and the prospect of immediate, tactical action must be stronger than the resistance within an organization for significant changes to occur.

Management’s role

The primary job of management is to identify macroenvironmental trends in order to identify changes and implement plans. In addition, it is essential to predict the anticipated effects of a change on employee behavior patterns, work procedures, technology requirements, and motivation. Management must anticipate employee reactions and design a change program that will provide assistance to employees as they accept change. The program must then be implemented, communicated throughout the organization, monitored for efficacy, and modified as needed.

In general, a program for transformation should:

Describe the change process to everyone involved and explain why the changes are taking place. The data should be comprehensive, impartial, trustworthy, transparent, and timely. Be developed to accomplish the change efficiently while aligning with business goals, macroenvironmental trends, and employee perceptions and emotions. Provide assistance to employees as they adjust to the change, and whenever possible, incorporate them directly into the transition process. Be continuously evaluated and assessed for efficacy. Typically, a change management project that is effective is also a flexible project.

By adhering to the aforementioned theories and models, the management could be equipped to bring about the transformation. Other OD Interventions for bringing about change include:

Technological Intervention in Structures. Human intervention in the process. Societal Intervention. Technological and social intervention.

Major HRM Functions

The primary HRM functions include:

Personnel Policy. Management Development and Training Performance Evaluation. Compensation Procedures.

Personnel Policy

A Staffing Policy is an essential choice that must be made. According to this policy, all essential posts will be filled by nationals of the host nation, while auxiliary jobs will be filled by nationals of the home nation, or vice versa. A Human Resources Manager must determine the type of personnel policy for the company's international operations and expatriate management.

An expatriate manager is a citizen of one nation who is employed overseas at one of a company's subsidiaries. These are the categories of personnel policies:

The Ethnocentric Methodology

An ethnocentric staffing policy is one where all important managerial positions are filled by nationals of the parent country. Companies employ this strategy for three reasons. First, the Firm may assume that there are insufficient skilled engineers in the host country to fill senior management positions. Second, the company may view this strategy as the most effective means of preserving its corporate culture. Many Japanese companies prefer their overseas operations to be led by expatriate Japanese managers who have been integrated into the company's culture while working in Japan. Thirdly, if the company is attempting to build value by transferring key capabilities to a foreign operation, it may assume that the most effective method to do so is by transferring nationals of the parent country who possess this competency to the foreign operation.

The Polycentric Methodology

A Polycentric Staffing policy mandates that citizens of the host country be recruited to run subsidiaries, while nationals of the parent country maintain significant roles at the corporate headquarters. A benefit of adopting this strategy is that the company is less likely to suffer from cultural blindness. The second benefit is that implementing this policy is less expensive, hence reducing the cost of value generation.

The Geocentric Method

A geocentric personnel approach seeks the best candidates, regardless of nationality, for important positions throughout the firm. This allows the company to maximize its utilization of human resources.

The challenge at hand is determining which of the aforementioned approaches to use in the global context. This is a challenge, and managing expatriates in a varied workforce is an additional challenge.

The following table provides a summary of the various types of staffing policies, including the merits and cons of each.

Comparative Analysis of Staffing Methods

Staffing Method Benefits and Drawbacks

Ethnocentric

Overcomes the dearth of qualified managers in the host country. Unified culture Helps convey essential competencies

Creates resentment in the host nation Can lead to cultural myopia.

Polycentric

Alleviates cultural myopia. Cost-Effective to Implement

Limits career advancement separating headquarters from overseas subsidiaries

Geocentric

Utilizes human resources productively Contributes to building a robust culture and informal management network

National immigration policies may impede implementation Expensive

Managing Diverse Employees (Expatriates)

When globalizing a firm, ecological adaptations and cultural transformations are two crucial areas of concentration for every corporation. Flora and animals must adapt ecologically to survive, whereas humans believe cultural adaptation is a prerequisite for world survival. These two elements can be represented visually, with the diagonal progression representing an added benefit for the global organization.

The following example illustrates how the ecological and cultural adaption challenge can be resolved.

Global Sustenance Model

Source: Original

James Belasco's Model

Employees' perceptions of cultural change have been influenced by three techniques, as he outlined. In his book "Teaching the Elephant to Dance," he describes how global corporate executives enjoy remarkable benefits from empowering their staff. According to him, (1) only massive changes will ensure the long-term viability of organizations, (2) people will not automatically accept the necessary changes, and (3) empowerment is the key to including people in the change process. He proposed a four-step paradigm to describe the process of empowerment: preparation, create tomorrow, vision, and change.

Culture has a significant impact on employee empowerment. Sharing of information is necessary for empowerment. Managers in a high-ranking group are typically unwilling to share knowledge. Individualistic cultures encourage individuals to think and act independently. They are unwilling to share knowledge and cooperate. Empowerment can be effective in a culture with a high level of collectivism in which individuals tend to view themselves as group members. They are at ease with the daily communication of teamwork and readily contribute. Moreover, many believe that greater information sharing would minimize risk uncertainty.

To become internationally sustainable, any person, product, process, or service must adapt ecologically and culturally. Therefore, these two characteristics must be taken into account while hiring individuals. Any uni-lateral adaptation may hinder the achievement of the targeted objective. Diversities are natural phenomena, and one must maintain self-respect in order to overcome the differences and be congruent with one's own talents. By applying the aforementioned concept of cultural and ecological adaptation, expatriate failure will be eliminated.

Training Model and Evaluation of Performance

The succeeding The training model can be modified to bring about a shift in the employees' attitudes, and as the job is heavily sales-related, the "Pay for performance" or "PPP" method of performance evaluation could be implemented. This strategy should be paired with 360-degree feedback evaluation in order to maintain control over the performance evaluation technique. Unions must also be brought in to agree with the established performance requirements.

Sales Education Model

Source: Human Resources Development by Desimone

Training Evaluation and Performance appraisal

Training can be evaluated based on the impact it has had on the employees' attitudes and behaviors. Therefore, organization development as a result of personnel development must be the primary objective.

This evaluation approach could be applied to the training. Considered to be the most appropriate model for evaluating a training program, this model examines changes in both behavior and attitude as a result of instruction.

The model accounts for

Digital Marketing, Its Opportunities And Challenges Essay Help Site:edu

Executive Synopsis

The goal of this research is to share findings regarding the opportunities and difficulties presented to businesses by digital marketing. The purpose of this relevant research is to boost the effectiveness of digital marketing in reaching customers.

Digital marketing, which transforms marketing by providing new means for contacting clients in real time, is among the key results. Evidently, digital marketing has both advantages and disadvantages, but the benefits outweigh the disadvantages.

For a firm to effectively adopt digital marketing, we advocate creating interactive websites, guaranteeing a 24/7 internet presence, delivering personalized consumer messaging, and enhancing internet visibility. This will help take advantage of digital marketing's benefits and solve its obstacles.

Introduction

The purpose of this research is to discuss the potential and problems in digital marketing. Understanding the opportunities and constraints of digital marketing is useful for making decisions regarding the implementation of digital marketing (Martin &amp; Todorov 2010, p. 61). The study opens with an explanation of digital marketing's five-component formula. The report then goes on to describe two benefits and two drawbacks of digital marketing. Then, digital marketing implementation solutions are provided, followed by digital marketing usage advice.

Digital Marketing strategy

A business must execute a five-part strategy for digital marketing to be successful. This includes the steps the organization must take to achieve satisfactory digital marketing results, as stated under the following topics.

Creating effective websites

A business must provide the infrastructure for digital communication. The infrastructure consists of websites, e-mails, and leading social media accounts (Klososky 2012, pp. 42). To ensure repeat consumer visits, a company must ensure that its website has current and useful information. Relevant and informative websites facilitate effective digital marketing.

Offering social technology

The second step involves the development of multiple channels for client connection. The channels include the creation of search engines, the integration of mobile with social media, the improvement of member happiness, and the expansion of customer service (Mahajan &amp; Wind 2001, 7).

Mobile tools

The third component of data marketing is ensuring that the firm is accessible 24/7 for client interactions (Charlesworth 2007, p. 80). Important to the effectiveness of digital marketing is the availability of a business's website for explanation, client communication, and product information.

Increasing website traffic

This factor comprises ensuring that the organization has sufficient online visibility and a solid subscriber base (Klososky 2012 p. 43). Consistency in the quality of a business's website's content contributes to increased online traffic (Urban 2004, p. 34). Utilizing traditional advertising techniques to increase consumer visits and brand recognition also helps to increase online traffic. This results in an increase in a company's revenue through greater sales.

Measurement systems

These are the metrics a corporation uses to evaluate the effectiveness of digital marketing in achieving business objectives (Klososky 2012, p. 43). Accessing the number of site visits, monitoring successful online transactions, and measuring the increase in revenues due to the use of digital marketing are the primary metrics taken by the business. The company then makes any necessary adjustments and enhancements to achieve effective digital marketing.

Digital Marketing benefits and difficulties

Possibilities in Digital Marketing Low initial costs

The minimal costs of setup present the greatest potential for enterprises to invest in digital marketing (Klososky 2012, p. 42). Digital marketing has low-cost access to several public communication venues. The introduction of technology, the primary driver of digital marketing, and the internet decreases the cost of digitally effective marketing (Martin &amp; Todorov 2010, p. 65). Utilizing digital communication inexpensively to promote a company's sales is mostly motivated by an increase in website interaction, blogging, social networking websites, and consumer marketer connection. These communication channels are inexpensive and have low installation and operational costs, allowing digital communication to flourish in the digital age. Additionally, there is an increase in customer exposure to the company's services and products, resulting in enormous sales and revenue.

Faster marketing Channels

The second possibility for digital marketing consists of marketing channels that are more innovative and speedier. Digital marketing offers a faster conduit for marketers and consumers to communicate in real-time, hence enhancing interaction. Consumer-marketer contact provides routes for idea generation, platforms for seeking changes and product enhancement, resulting in enhanced brand loyalty. The channel also promotes consumer satisfaction and enables businesses to recognize the opportunities and benefits of marketing for brand enhancement. Through the interactive platform it provides, digital marketing enables businesses to develop long-lasting relationships with their customers. Digital marketing is a new sector, and the vast array of technology advancements in new devices, interfaces, and applications demonstrate the advantages that await businesses who embrace digital communication.

Disadvantages of Digital Marketing Heavy reliance on Technology

One downside of digital marketing is its high reliance on technology due to the issues facing technology, particularly the Internet, the primary channel for digital marketing (Matheison 2010, p. 241). Viruses that are capable of modifying information or distributing it instantly from one machine to another pose the greatest threat to the Internet. The Melisa virus, the first recorded internet virus on March 26, 1999, spread to 100,000 machines in three days and a website reported receiving 32,000 Melisa-infected emails (Mahajan &amp; Wind 2001). With these numbers and the persistence of computer viruses, digital marketing faces a difficulty. Digital marketing's greater reliance on the internet increases the cost of computer upkeep and virus security (Charlesworth et al 2007, p. 11). This is due to the fact that computers around the world are susceptible to infections that could harm the company's reputation.

High installation and Maintenance fees

The installation and maintenance expenses of digital marketing gear constitute a hurdle. This is because digital marketing requires access to the internet 24 hours a day, competent computers, and cable networks.

Solutions for Digital Marketing implementation

Companies implementing digital marketing solutions may build strategic relationships with other businesses and organizations to expand their online presence. Additionally, organizations should have a global view when digitally customizing their products and marketing (Wilson 2001, p. 11). This is due to a lack of global knowledge regarding client preferences and the internet's ability to reach global audiences (Fitch &amp; Holis 2009, p. 210). The dissemination of time-competitive items and marketing information is another method of marketing. This is intended to prevent the time-related obsolescence of digital marketing information. Additionally essential to the success of digital marketing are client integration techniques that are more robust (Fitch &amp; Holis 2009, p. 211).

Recommendation

It is recommended that businesses adopt digital technology since it offers customers better accessibility 24/7 and greater variety than traditional marketing tactics. For greater success in digital marketing, businesses should establish up-to-date websites, provide interactive customer service, deliver individualized customer messaging, and expand their online presence.

References

Charlesworth, G., Esen, R., and Gay, R. (2007). Online Marketing: A Customer-Driven Approach. New York: Oxford University Press.

Is global brand marketing as lucrative as it first appears?, Journal of Sponsorship, Vol. 2 (Henry Stewart publishing, 2009), No. 3, pp. 206–214, Fitch, D., & Holis, N.

New York: Penguin Group USA, 2009. Godin, S. Purple Cow: Transform Your Business by Being Remarkable.

Social technology: the next frontier, by S. Klososky, Financial Executive, vol. 28, no. 4, pp. 40-45, 2012.

Mahajan, V & Wind, J 2001. Digital Marketing: Global Strategies from the Leading Experts in the World, New York: John Wiley & Sons, Inc.

Martin, K., & Todorov, I. (2010). How will digital platforms be utilized in 2010, and how will they affect the way consumers interact with brands? Spring 2010 issue of the Journal of Interactive Advertising, volume 10 number 2, pages 61-66.

Matheison, R. (2010). The On-Demand Brand: Ten Rules for Digital Marketing Success in a 24/7/365 World. New York AMACOM Div American Mgmt Assoc.

Digital Marketing Strategy: Text and Cases, published by Pearson Prentice Hall in New Jersey in 2004.

Wilson, Robert, 2001, Wiley, New York. Planning your online marketing strategy: a Doctor Ebiz handbook. MME 101 – Tri 2 2012 – First Assignment Page: ii

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Organizations As Complex Adaptive Systems Essay Help Site:edu

Contents Listing
Introduction Factors Humane Communication Organization Culture Discussion and Conclude References

Introduction

This paper reviews six publications by Ezzamel, Willmott, and Worthington (2001), Fleming and Spicer (2003), Orton (2000), Morrison and Milliken (2000), Piderit (2000), and Vince and Broussine (2000). (1996). The researchers examined organizational transformation concerns by analyzing the elements that inhibit (or promote) the process. This paper assesses their arguments and assumptions using a three-pronged framework that describes their findings as organizational culture concerns, communication concerns, and human considerations (which affect organizational change). This research identifies fresh insights for change management by bridging the gap between theory and practice.

Factors Humane

According to Vince and Broussine (1996), the organizational emphasis in change management should shift from problem-solving and planning-based approaches to human emotions and interpersonal ties. Specifically, they emphasize the necessity to comprehend how human uncertainty and defensiveness influence organizational transformation. According to Vince and Broussine (1996), human factors impact change management through influencing the acceptance of the change process among individuals.

This examination must take into account numerous factors. For instance, change resistance is an attitude problem that the majority of firms might tackle by appealing to human needs. Those who do so have a good likelihood of experiencing employee support in change management. For instance, Faucheux (2013) tells the story of an American church (Jeff's Church) that intended to construct a new sanctuary for its congregants, but received complaints from some of its members for excluding them from the project.

The church resolved this issue by creating a steering committee that solicited the opinions and participation of every church member. Eventually, the majority of members supported the project because they felt included in the process of transformation (Faucheux, 2013). This analysis demonstrates that focusing on people's emotions and interpersonal relationships, as Vince and Broussine (1996) emphasize, is the driving force behind the success of organizational change.

Piderit (2000) supports the focus on human attitudes as a necessary for successful organizational change by arguing for a new approach to employee resistance. According to him, individuals' attitudes influence their resistance to change (or support for it). In this context, Piderit (2000) asserts that achieving a balance between organizational goals and individual needs will promote ambiguous attitudes toward change. To do this, he said that it is essential to comprehend the evolution of employee resistance to change. Likewise, he underlined the need to comprehend how personnel react to change ideas (using a bottom-up approach). He utilized this argument to explain the process of egalitarian change (Piderit, 2000).

Communication

According to Morrison and Milliken (2000), the primary impediment to organizational transformation is the failure of companies to articulate the issues affecting corporate and employee performance. According to them, it would be "unwise" for such firms to allow stakeholders to express organizational issues. They refer to this as "organizational silence" (Morrison &amp; Milliken, 2000).

To encourage organizational change, the researchers researched the contextual elements that contribute to organizational change and proposed that removing these variables would promote change. This viewpoint is consistent with the assertions made by Faucheux (2013), who emphasized the need for managers to convey organizational change challenges to all stakeholders. Additionally, he stated that the executive team must convince all stakeholders to support the change management process (Faucheux, 2013; Morrison &amp; Milliken, 2000). In this manner, employees would comprehend the necessity of change acceptance. This tactic has had favorable results.

For instance, in 1981 British Airways hired a new management who wished to reform the business because he recognized that it was wasting resources (Faucheux, 2013). The airline's personnel was reduced as a result of the restructuring operations he initiated. However, before he did so, he informed all of the organization's stakeholders of the necessity to restructure. This procedure prepared the workforce for the transition. His efforts eventually bore fruit, preventing the near bankruptcy of the London-based airline (Faucheux, 2013).

Organization Culture

According to Fleming and Spicer (2003), subjectivity and power relations are crucial components in organizational change. These elements are mostly a part of organizational culture. In this regard, Fleming and Spicer (2003) assert that the majority of employees who comprehend an organization's culture are likely to support organizational change, whilst those who do not comprehend it are likely to impede the process. The latter group behaves in this manner because they feel alone.

Furthermore, cynicism becomes a prevalent trait of their professional performance. In order to understand this occurrence, Fleming and Spicer (2003) state, "We call this the ideology interpretation because, in dis-identifying with power, it is reproduced inadvertently" (p. 157). Overall, Fleming and Spicer (2003) feel that cultural power has a substantial effect on an organization's capacity to embrace change. Similarly, they assert that subjectivity impacts an organization's capacity for change (subjectivity might not necessarily come from within the organization). This finding also demonstrates that what many individuals may perceive as frustrations associated with change are not always accurate.

Orton (2000) utilized the preceding philosophy to explain how internal communications influence organizational design processes in the US intelligence community. Using Weick's theory of organization development as a foundation, he investigated the effects of three design assumptions on the design process of an organization. In his research, he discovered that the organizational design process was constrained by dominant factors, causal laws, and executive directives (the three organization design assumptions) (Orton, 2000). Overall, Orton (2000) emphasized the necessity for businesses to shift from basic designs to trustworthy designs.

Ezzamel et al. (2001) have questioned the validity for utilizing new waves of management (as mentioned previously) as the sole conditions for re-engineering organizational processes. After analyzing the experiences of dissatisfied managers who attempted to re-engineer organizational processes, the researchers discovered that the vast majority of employees could easily deploy personal and collective forms of resistance to promote (or thwart) organizational change (Ezzamel et al., 2001). Although the authors accept the significance that external organizational factors, such as market shifts, have in organizational transformation, they assert that associating with historical working methods has a stronger impact. Consequently, the authors recognize the importance of focusing on the influence of employee work experiences on organizational development.

Discussion and Summary

After reviewing the six articles featured in this paper, it is clear that organizational transformation is a dynamic and multidimensional topic. Human factors, communication, and organizational transformation emerge as the primary variables influencing the process. As Ezzamel et al. (2001) note, while many types of literature acknowledge the need for adopting modern change management paradigms, such as lean management, it is equally important to recognize the role that an employee's experience plays in determining his resistance (or support) to the change management process.

Therefore, change management should concentrate on getting the "human aspect" right before addressing other crucial concerns, such as communication and organizational culture. This study emphasizes the importance of adopting a multidimensional approach to change management. In addition, it emphasizes the importance of integrating past and present organizational requirements while designing future organizational processes.

References

The authors are Ezzamel, Willmott, and Worthington (2001). In The Factory That Time Forgot, there is power, control, and resistance. 38(8), 1053-1079, Journal of Management Studies

Faucheux, M. (2013). Plans for Change Management That Worked as Illustrations Web.

P. Fleming and A. Spicer (2003). Implications for Power, Subjectivity, and Resistance while Working at a Cynical Distance 10(1), 157-179. Organization.

Morrison, E. W., & Milliken, F. J. (2000). A barrier to change and development in a pluralistic world is organizational silence. The Academy of Management Review, 25(4), pages 706-725.

Orton, J. D. (2000). Enactment, Sensemaking, and Decision Making: Redesign Processes in the Reorganization of US Intelligence in 1976 37(2), pages 213-234, in Journal of Management Studies.

Piderit, S. K. (2000). (2000). A Multidimensional Perspective on Organizational Change Attitudes: Reconsidering Resistance and Recognizing Ambivalence The Academy of Management Review, twenty-five (4), 783-794.

R. Vince and M. Broussine (1996). Paradox, Defense, and Attachment: Accessing and Managing the Emotions and Relationships Underlying Organizational Change Organization Studies, seventeen (1), 1-21.

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Risk Management Practices In The Fire Service Essay Help Site:edu

Introduction

Risk management refers to any activity involving the examination or comparison of risks and the development of strategies that alter the chance or the repercussions of a negative action. Risk management encompasses the complete process of identifying and assessing hazards, as well as identifying, selecting, and identifying control strategies that may affect the risk. Loss management is a component of risk management. The control measures include administrative, engineering, and personal protective measures. Having trained personnel and specialized equipment, emergency responders represent a community's reaction to risk by demonstrating risk management. The primary objective of fire, EMS, and rescue services is the management of risk throughout a community. (Diamantes, 1998)

Community-Based Fire Management

The departments play a crucial role in protecting their communities from fires and other threats to life and property. Historically, public fire services were primarily created to protect communities from the threat of fires. Conflagrations begin as little fires that cannot be contained in their early stages and expand until they are uncontrollable. Before current principles of fire safety were created, cities and towns were frequently demolished by fires.

Although most public fire departments today prioritize the suppression of flames on individual properties and the rescue of inhabitants in danger, the fire department's suppression duty is still predicated on the necessity to safeguard the community's property and population. In this regard, the fire department is a component of the community's program for fire risk management. It exists to minimise the potential loss in the event of a fire. (Diamantes, 1998)

Assisting Communities to Safeguard What They Have

Helping communities secure their assets is a major tenet of the fire service's risk management philosophy, and it emphasizes our extensive efforts to promote fire prevention and enhance the quality of fire protection enjoyed by all individuals. In addition to information regarding the organization and operation of the fire service, a significant quantity of material has been provided to assist people, families, businesses, and communities in preventing and protecting against fires. They were urged to have residential fire prevention, domestic fire alarms, home escape plans, a commercial and industrial fire safety checklist, and evacuation plans (Diamantes, 1998)

Providing Fire Control Services To The Neighborhood

The resources that a community is willing to invest to the fire department reflect its appraisal of the overall fire risk. The community's fire risk balance could be jeopardized if the fire service is unable to carry out its fire control job. The fire chief is responsible for providing a set of services that are part of the risk management risk (the service delivery mission), managing the fire risk in the community, and ensuring that the departments can always carry out their mission. (Diamantes, 1998)

Critical Public Service Emergency Response

Emergency response agencies are regarded as indispensable public services. Because of this, emergency response managers should recognize that they are responsible for ensuring that their organizations are always prepared to carry out their missions. Furthermore, emergency response managers must be more cognizant of potential service disruptions than the average citizen or business manager. In the course of their working careers, they are expected to recognize and manage risk. (Diamantes, 1998)

Losses and loss management

Loss control is a component of risk management; its purpose is to mitigate the repercussions of risk. There are hundreds of potential personal losses with which fire crews must contend. These losses include deaths, injuries, and illnesses among agency personnel. People are essential, they are our most valuable assets, and they must be safeguarded. Property damage. The property of the fire service consists of trucks, facilities, and equipment. Losses in this category may include equipment that has been lost or stolen, or that has been damaged by fire. Losses incurred as a result of a liability. The need to recompense others for losses and damages caused by our actions or omissions is liability. The frequency and extent of this type of loss are progressively growing for fire departments. (Dugan, Jennifer, and Leo 1997).

FEMA organization

The NFA is a vital part of the United States Fire Administration (USFA) and the Federal Emergency Management Agency (FEMA).

All programs and efforts are tightly integrated with the strategic goals and operational objectives of the USFA and FEMA.

All programs and efforts are tightly integrated with the strategic goals and operational objectives of the USFA and FEMA.

The USFA has defined the following operational goals for the next five years to steer its priorities and programs. 15% reduction in the loss of fire from fire. By lowering by 25 percent the loss of life among those aged 14 and younger, by 25 percent the loss of life among those aged 65 and older, and by 25 percent the loss of life among firefighters. Two thousand towns will have a comprehensive multi-hazard risk reduction strategy directed by or with the local fire department.

The implementation of the activities specified in the USFA action plan has made significant progress. The USFA staff has proven the skills, commitment, and visionary leadership necessary for the effective implementation of this action plan. There were possibilities for team members to participate in organizational effectiveness training programs. It is astonishing how devoted the staff members are to the students that attend NFA classes on and off campus. Jennifer Dugan and Leo Dugan (1997).

Planning to manage risk

National Fire Protection Association (NEPA) adopted NEPA 1500, the standard for fire department occupational safety and health programs, in 1987. It was the first consensus standard to specifically address the prevention of injuries, fatalities, and occupational illnesses experienced by emergency response professionals while doing their jobs. Initially considered extreme by some, the foundational principles of the standard have subsequently been generally recognized and embraced by North American fire agencies. The plan for risk management provides essential policy. The plan provides as proof that risks have been identified and analyzed, and that a suitable control strategy has been developed and adhered to. NEPA 1500 mandates that a risk management plan include risk identification, risk evaluation, risk control measures, and program evaluation and review. NFPA 1500 intends for the elements of a risk management plan to apply to all parts of a fire department's operations and activities. However, it is their application to emergency operations in particular that makes the risk management plan an important risk management development.

The following is a summary of plan needs for risk management. The fire department is required to adopt an official, documented risk management strategy that includes all of its policies and procedures. The plan for risk management should encompass administration, buildings, training, vehicle operation, protective gear and equipment, emergency response operations, and other associated activities. The risk management strategy must contain at least the following components: risk identification of the potential problems, risk evaluation, which is the probability that a certain problem will occur, and the severity of its repercussions. Risk management approaches that eliminate or mitigate possible problems and implement potential remedies. The monitoring of risk management is the examination of the effectiveness of risk control measures. Risk identification entails listing the potential issues for every component of the fire department's activities. Risk evaluation entails evaluating each item identified throughout the process of risk identification. Risk control involves developing and implementing strategies to eliminate or prevent the activity, decrease or control the risk, as well as developing, adopting, and enforcing safety plans and standard operating procedures, as well as providing training and conducting inspections. Monitoring and periodic reviews of risk management should be conducted to determine the plan's efficacy and identify any necessary improvements. Jennifer Dugan and Leo Dugan (1997).

Key Findings from Research on Fire Risk

The fire department has established significant associations between residential fire occurrence and social or economic hardship. These correlations indicate that areas of metropolitan neighborhoods with low household income, household overcrowding, low educational attainment, high unemployment, and inadequate parental care are disadvantaged. They experience roughly three times as many fires than the wealthiest and best-off New Zealanders, and the probability of dying in a fire is far more concerning. Les underprivileged are over six times more likely to experience a fatal house fire.

There are significant discrepancies in the distribution of commercial fire risk, according to fire department study. Particularly, the manufacturing industry has more fires for establishment than any other industry. The hospitality industry also faces an unusually high danger of fire. Hotels, motels, hostels, tourist accommodations, restaurants, bars, nightclubs, pubs, taverns, and similar service establishments account for a shockingly high percentage of non-residential civilian fire injuries and fatalities. Given the importance of this industry's exports, the fire service is eager to assist hospitality organizations in identifying and mitigating the threats that weaken the traveling public's confidence in safety and security. Jennifer Dugan and Leo Dugan (1997).

Conclusion

Risk management encompasses the complete process of identifying and assessing hazards, as well as identifying, selecting, and identifying control strategies that may affect the risk. Helping communities secure their assets is a major tenet of the fire service's risk management philosophy, and it emphasizes our extensive efforts to promote fire prevention and enhance the quality of fire protection enjoyed by all individuals. The risk management strategy consists of at least the following elements: risk identification of the potential problems, risk evaluation of the likelihood of occurrence of a given problem and the severity of its repercussions, and risk mitigation. As a result, risk management fire service is an essential department in nearly every enterprise and residence, and suitable strategies must be implemented to ensure that the frequency of fire incidents has been reduced or eliminated.

Reference

Diamantes (1998). Inspection and code enforcement for fire prevention Albany. The publishers Delmar

Dugan, E.

Jennifer K., along with Leo (1997). Successful fire department management practices in Boston. Quinlan publishing co.

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Operational Risk Management Essay Help Site:edu

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

Introduction

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

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

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

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

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

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

Considering issue

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

Design and structure of the organization

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

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

Three managerial levels.

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

Collaboration and teamwork

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

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

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

Team structure.

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

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

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

Leadership and management methodology

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

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

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

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

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

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

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

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

Organization culture

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

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

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

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

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

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

Empowerment And Teamwork In Modern Management Essay Help Site:edu

Modern management integrates team empowerment and teamwork in lieu of supervision, and the presence of the required abilities within a team ensures the success of the management idea. This contemporary management style employs teamwork among organization employees. Given that the use of teams to manage multiple organizational duties means a transition from the traditional supervisory relationship to a team-based approach, effective teams must be equipped with the skills necessary to manage greater responsibilities. It seems to me that cooperation involves supervisors delegating greater responsibilities to team members. With this method, concepts such as team empowerment emerge. This study evaluates the functioning of teams, the necessary abilities for teams, and the concept of team empowerment.

Katzenbach and Smith (1998) define a team as a small group of individuals united by a common purpose and performance objective. Teams collaborate to achieve objectives and are held accountable for their activities. Teams are established based on two fundamental ideas, as stated by (Katz, 1995, Kotter, 1990). First, the employment of teams shifts more responsibility from the supervisor to the workers, implying that workers require additional skills to handle these expanded tasks. Second, management has the ability to alter the skill structure of teams.

According to the hypothesis of Katz and Kotters, teams induce changes in work organization, and skills are required. However, this assumption has limits because it is difficult to distinguish between supervisor and team tasks. In addition, it is uncertain how much responsibility should be delegated to teams. Management and leadership are responsible for establishing the level of responsibility based on factors such as the value placed on teams, the willingness of middle management to share responsibility, the talents provided by teams, etc. Katz's premise argues that management has the ability to alter the skill structure of team members selected. The basis for selection should be the skills possessed by each candidate and their impact on the organizational hierarchy. This assumption means that businesses that choose to implement this modern management style should rethink their span of control to assign more responsibility to team members and guarantee that team members possess talents that complement the weaknesses and strengths of other team members.

It is vital to highlight that the management and leadership of an organization have a considerable impact on team operations, beginning with the planning phase and extending through the delegation of responsibilities and management of operations. Reorganization of an organization's structure is a transitional process that frequently involves management. At this time, the significance of team skills becomes apparent. According to Kotter (1990), change requires human skills, which encompass conceptual, technical, and human abilities. The most important point to remember is that management should not only examine existing skills, but also the potential for team members to acquire new skills in the future. In order for teams to achieve their objectives effectively, they must possess the necessary abilities (Katzenbach and Smith 1998). Moreover, effective teams benefit from objective-based management, and since the change process takes time, so does team development and maturation.

In this study, the terms management and team leadership are used, but they must be distinguished in order to understand their effects on team success. Management is concerned with the functions of planning, organizing, directing, and controlling, whereas leadership is concerned with the implementation of plans through workers. The primary responsibilities include explaining goals, providing encouragement and direction, etc. The manager's position should be facilitative, as management lays forth the plans that serve as the foundation for team development.

At this time, it is important to understand the fundamental variables that determine the success or failure of teams and how they function. Effective teams are comprised of members who recognize their own contributions. When the team environment is positive, every member feels like an integral part of a greater whole. This suggests that pleasant emotions inspire internal motivation and dedication to achieving team objectives. Leadership is essential for aligning people, inspiring dedication, helping team members to see the big picture, conveying goals, and growing team members' abilities so they can handle expanded responsibilities, among other things. Typically, teams designate team leaders from inside the team whose responsibility it is to represent the team to other organizational units. The team leader also provides the team with direction and vision. (Huusko, 2006).

Team leaders should be actively involved in team activities. This provides a hands-on approach to ensure the team's success. Team managers are tasked with ensuring that their teams have access to the facilities and resources necessary to carry out their duties. In addition, they discuss objectives and timelines for achieving objectives and monitor teams' progress. The basic notion of teams is collaboration and respecting the contributions of every member.

As stated in the paper, talents are necessary for the growth and effectiveness of a team. However, the absence of skills is not the only element that hinders teamwork. Or lack of empowerment contributes to a decline in team effectiveness. Empowerment, albeit not commonly used in management literature, is any action by management or leadership to hone the skills of a team through energizing team members, sharing knowledge, etc. Although team empowerment does not ensure success but reduces the likelihood of failure, organizations have the ability to exploit it to their benefit. This is accomplished by ensuring that organizations establish a balance between the control lost due to team management and the uniformity of organizational goals. Similarly, empowering entails granting teams the autonomy and authority need to complete their tasks.

Different work levels necessitate distinct skill sets. The technical skill is the required fundamental competency at all levels. At the managerial level, it is vital to have cognitive, decision-making, and communication abilities. Team leaders must possess interpersonal skills in order to motivate team members in the face of adversity and instill in them a desire to learn. Alternatively, team members should possess problem-solving, interpersonal, and organizational abilities. In conclusion, skills are required for handling any duty, and these abilities might be innate, learned through education or gained through experience. As skills impact the success with which teams complete tasks, they should be emphasized.

Bibliography

Team Performance Management, Vol. 12 No. 1/2, Pages 5–16, L. Huusko, 2006. Emerald Publishing Group Limited Katz, H. (1955). "Administrative skills." 33-42 of Harvard Business Review. Katzenbach, J.R. and Smith, D. (1998). Teams' Intelligence in Creating a High-Performance Organization. Boston, MA: Harvard Business School Press. Kotter, J.P. (1990). "What do real leaders do?" 103-11, Harvard Business Review.

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Marketing Plan On Getting Business Management Degree Essay Help Site:edu

Executive Synopsis

This study seeks to describe the personal marketing strategy for acquiring a degree in the discipline of business management. Obtaining a degree in business management can provide us with the skills and information required in today's global marketplace. If the learner's primary career objective is to become a businessman or entrepreneur, they must exercise caution. In addition, obtaining a degree in business management with an emphasis on personal marketing can help to provide students with the necessary business management knowledge, management skills, and marketing techniques, etc. These are required for the accomplishment of each student's personalized, educational, and specialized career goals. To attain this objective, students must maintain the necessary educational credentials and access to provide service to society. Business management is one of the most pervasive and enduring educational disciplines. Obtaining a degree in business management equips us with all the necessary abilities to conduct business functions effectively. This plan discusses the significance of target market and external environment study for business management.

Therefore, the final purpose and personal marketing plan are designed to recruit competent and skilled individuals to deliver services to the business. The company management training will build and cultivate our leadership abilities.

Examination of the External Environment

The most important step an industry should do to enhance their market's competency is to create a marketing plan that directs the allocation of their market assets and time. This requires an understanding of the external marketing environment. The external environment of any business establishment aids in comprehending the nearby surroundings as well as the factors influencing the organization's condition. By researching the external environment in order to earn a degree in the field of business management, business establishment companies are able to determine the best educational approaches for students. Today, the relevance of studying business management is growing. In order to adapt to changes in the environment, business management degree-granting organizations must adapt to the demands and desires of students. "It also occurs when an organization evolves through numerous life cycles, much as individuals must evolve successfully through life cycles. Organizations must frequently experience major change at various stages of their growth in order to grow (Mc Namara, 2010, para.1). The degree in Business Management is designed to provide a comprehensive, rational, and integrated understanding of business management.

Market Situation examination

While there is a growing need for teaching business management, there is an even greater demand for acquiring a degree from a business management college. Any organization's external environment consists of micro (consisting of consumers, suppliers, and rivals, etc.) and macro environments (it comprise all factors that use a some kind of impact of the plan and proceedings taken by the firm). The U.S. Bureau of Labor Statistics projects a 17% increase in business management jobs through 2014, with typical annual wages between $50,000 and $88,500. Executives earn six-figure salaries on average (Online business administration &amp; business management degree programs, 2010, para.3). Recognizing the efficacy of the current in this field is the most important step in achieving productivity in a corporate organization.

Strengths and Weaknesses

Numerous personal strengths support the pursuit of business management degrees. It assists in providing diverse values for our lives. Like leadership, being accountable, dignity, problem solving skill etc… As a service industry, it helps to improve our leadership shill, so the business management honoree must be systematic, thinking about all information immediately, and great at problem-solving. One of the benefits of a degree in business management is that it aids in acquiring the "ability to adapt to nearly any environment or situation, allowing the flexibility to converse with people of varying levels" (Strength and weaknesses, n.d., para.30). It will enable us to develop a more optimistic outlook on life if business management maintains a level of dignity over its employees. A degree in business management also improves our team building skills. Obtaining a Business Management Degree enables us to have a comprehensive understanding of all aspects of a typical business management process operating in the contemporary environment.

Individual Weaknesses

To strengthen the business management award, it is necessary to minimize weaknesses. One of the weaknesses that a degree in business management brings is a great deal of psychological pressure. Another flaw is that the individual is likely to be obsessed as a result of obtaining this degree. To solve the difficulties caused by obtaining a degree in management, we must hone our strengths and diminish our weaknesses.

Threats and Advantages

Threats

One of the obstacles to earning a degree in business management is the increasing competition among business management institutes. Numerous small businesses are forming to give business education to students, particularly in the United States and internationally. A lack of practical information is one of the threats encountered by business management degree holders, as the majority of business schools provide their students only hypothetical material. Another threat is the business establishment's vulnerability. This is the case if the holder of a degree in business management is current and has understanding of the environmental changes that are occurring. So that he may devise a plan to deal with this. Otherwise, it will impair the organization's general operation. Those who reside in rural areas will have less opportunities to obtain a degree in business management, therefore this will also become a threat.

Opportunities

Obtaining a degree in personal management facilitates the development of both a genuine desire to serve society and leadership skills.

There are several opportunities for business management students and the lecturer to build vital networking relationships. "Another motivation to pursue a degree in business management is that it can be used to a range of occupations. A degree in business management can be utilized in any form of firm and for any type of management position. 2009, para.5).

A business management talent provide many work prospects in diverse place.

It will aid in the enhancement of our quality of life and the acquisition of a variety of emerging business abilities. Similar to how earning a degree in business management enables us to implement nearly all aspects of business operations.

Gap analysis

It is one of the methods used to analyze the difference between the desired results and the current state. This will aid the students in comprehending their true expectations and the organization's offerings. Consumers evaluate the apparent services of the institute based on the anticipated services. If the apparent services of the organization fall short of the projected services of the organization, consumers are unsatisfied, however if consumers are pleased with the service, they are likely to employ the service provider again. It will assist in increasing client loyalty to the services. Therefore, the GAP analysis aids in closing the gap between these two. "Any organization that wishes to be successful must have an organized method of data collection, data analysis, and gap analysis. All significant regions should collect data, which should then be transformed into information through statistical data analysis. Data by itself is not particularly valuable" (Adams, n.d., para.2). Data collection for the gap analysis can be used for a variety of purposes, including the use of various methods to collect data from the target market.

Target market

The term "target market" refers to the process of identifying the complete set of potential customers from the total population, which may be divided into multiple segments, and then satisfying the needs and requirements of each segment. Changes must be made to the marketing strategy. Modern marketing techniques must replace traditional methods. The services must be tailored to the desires of the target market. Rather than focusing on the entire population, the industry must concentrate on those who are willing to accept its services and boost its marketing efforts in order to achieve its goals. In the business management establishment, distances study centers, market research firms, revenue zones, and non-profit zones, among others, are targeted. Students of business management must have a greater understanding of the real and fictitious market environments in order to assist them in assessing their hidden skills.

Competition

The competition between management schools in terms of their reputation, facilities, teaching techniques, and fees is a significant aspect of business administration. As the job market is reviewed, business management candidates have significant prospects. Candidates get access to a new world filled with renowned managerial roles. The managerial jobs provide many opportunities to demonstrate company management competencies and skills. MBA graduates have access to innumerable work prospects, primarily in executive roles, and can advance their careers substantially. Seeing your talents make a good effect in the lives of many people may be both monetarily and emotionally satisfying. You have the opportunity to work for a noble cause while advancing your own career" (Earning an online MBA degree, 2007, para.6).

Marketing strategy

Strategies are the means of achieving certain objectives. There are various possibilities for market strategies; the selection from the available options constitutes the choice of strategies. The focus of the marketing strategy is on subject matter, scope, opportunity, and talents that are accessible, inexpensive, and of adequate quality. The many tactics, such as social media, social networking, email/the Internet, radio, and public relations, serve as a catalyst for the development of a personal marketing plan. In the individual marketing strategy, the individual is the marketing strategy. The personal marketing strategy consists of the personal marketing mix (4 Ps), objectives and goals, and an integrated marketing communications plan. The four components of the personal marketing mix are person, location, pricing, and promotion. It depends on the individual's strengths, weaknesses, opportunities, threats, personality, and skills as to how they approach their own plans. The location is where the individual intends to continue further education. The cost can represent the estimated value of the candidate's proposed strategy. The individual must implement the promotion techniques in order to reach the aim or target. The goals and objectives are the measurement instruments for the end outcome; success or failure can only be determined when both the short-term and long-term objectives are achieved. "You should seriously consider what SMART (specific, measurable, attainable, realistic, and timely) measurable goals you can set for yourself" (Schawbel, 2008, para.10).

Action schemes

The primary objective of the action plans is to earn a degree in business management. It depends on the various facts and questions associated with them. The action plan begins with an analysis of the objective and the various processes that are beneficial in obtaining the degree. It also entails research on the number of management schools, their facilities, reputation, and recruitments. Situational analysis, competitor analysis, and audience analysis inform the analysis.

The situational analysis consists of an evaluation of the person's current circumstances. The various opportunities, hazards that may be encountered in the situation, and the vision statement associated with acquiring the business management degree. The audience analysis is believed to be a qualitative and quantitative examination of the idea of a distinct type, with the qualitative and quantitative data consisting of the degree's anticipated benefits. The competitiveness analyses utilize the examination of the many degree streams in the sphere of education. "The Action Plan begins where the Promotion Plan ends. Action plans can be presented in any format, including a chart, table, and timetable. Programs may be arranged chronologically or according to event type (Marketing plan: Action, 2009, para.2).

Implementation and management

Any marketing plan's implementation comprises of strategic objectives that serve as authority for the goal's maintenance and attainment through the development of guidelines and identification of specific activities. The objective's guiding principle is the achievement of the stated shared metrics. Before implementation and control, the advantages must be identified and the predictable implementation costs must be examined. To ensure the success of the decision, all reserves must be properly implemented. "Implementation is the process that transforms marketing plans into marketing actions. Implementation refers to the daily operations that will put your plan into action. In your marketing plan, you concentrate on what and why, whereas during the execution phase, you concentrate on who, where, when, and how (Milne, 2008, para.2). As the candidate considers his or her personal marketing plan, he or she evaluates the various management institutes based on their reputation and then seeks the advice of experts or seasoned professionals in the field of management. Finally, the candidate verifies that the educational costs are affordable. The budget is determined based on the feasibility of the endeavor. The candidate prepares for the entrance examination as the initial admissions requirement.

The marketing strategy should be implemented correctly, and for its advancement, a continual analysis of emerging changes and review of the marketing plan should be conducted. Obtaining the opinion of experts or seasoned professionals in the field of management is of great assistance in the implementation and creation of a personal plan.

Budget

The budget is the allocation of resources to various control channels in order to maximize efficiency and return on investment. The budget will depend on the selected channels that deliver the desired results. As the budget is for the personnel plan, persons must carefully evaluate the channels and then maintain the expenses necessary for the plan. When properly planned, the budget can be a success. The marketing plan's essential components are the budget and the strategy. "A budget is a plan that specifies the financial and operational objectives of a firm. Consequently, a budget may be viewed as an action plan; establishing a budget assists an organization in allocating resources, evaluating performance, and formulating plans. The preparation of a budget begins with a monthly listing of the business's fixed and variable expenses, followed by the allocation of funds to the business's objectives (Ward, 2010, para.1). The budget can be accessible easily through academic and athletic scholarships, which support around 90 percent of the budget. The remaining money can be accessed through the parents' investments. The budget plan is also geared toward pursuing and applying for scholarships to fund business management degrees. The budget for business management degree costs is listed below:

Year1

Year2

Year3

Cost of tuition $2,000.00

$20000.00

$20000.00

Development charge $705.00

$705.00

$475.00

Books/Supplies $2,000.00

$1,000.00

$500.00

Lodging (includes rent and utilities) $8,060.00

$8,060.00

$11,110.00

Caution deposit $2,500.00

$2,500.00

$2,000.00

Transportation costs $3,150

$3,150.00

$4,380.00

Other/Personal $3,601.00

$4,086.00

$4,101.00

TOTAL $40016

$39501

$42566

Conclusion

The personal marketing strategy provides insights into a comprehensive review of the individual's mission, vision, objectives, goals, and budget circumstances, as well as how they can be turned into practical objectives for the achievement of goals. Until achieve the career target, a detailed analysis was conducted from the conception of the idea to entry into the management institute. To realize the aim, the candidate must work diligently to earn high grades and then participate in extracurricular activities and workshops. Good exposure to both practical and theoretical knowledge enables the candidate to graduate with honors from the business management program.

Reference

Adams, W.C. (n.d.). Through data analysis, gap analysis transforms data into information. Adams Six Sigma. 2010. Web.

Completing an MBA program (2007). Hexun. Web.

Plan de marketing: action (2009). Small Business Notes. Web.

Mc Namara, C. (2010). Changes and development in organizations (including the topic of organization development): Introduction. Web-based Free Management Library.

Milne, G. (2008). Implementing your market plan. Market Strategy Success Success with Market Plans and Business Plans. Web.

Online administration and management of businesses (2010). Receive My Degree. Web.

Schawbel, D. (2008). Your personal marketing strategy, part four of five Web-based Personal Building Network.

Should you get a business management degree? (2009). Web site for Business Knowledge Source.Com.

Ondix. 2010. Web. Strengths and disadvantages.

Ward, S. (2010). About.Com: Small Business: Canada. Internet.

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Marketing Implications Of Hyper-Consumerism Essay Help Site:edu

Table of Contents
Introduction Marketers and Clients How Marketers Take Advantage of Hyper-Consumers The Future Consequences of Hyperconsumerism Marketing and Hyperconsumerism Ethical Issues Conclusion Works Cited

Introduction

Consumerism is a rather imprecise and ambiguous phrase on its own. Everyone on the planet is a consumer according to his or her own standards. Air, food, clothing, water, and food are some of the fundamental requirements for which every individual is a consumer. A more dangerous scenario, however, is hyper-consumerism, which refers to an out-of-control shopping binge of usable goods, including those of no significance. Individuals are said to have either a chronic or recurrent pattern of behavior. Therefore, marketers have taken advantage of this susceptible segment and are profiting handsomely from them (Dawson, pp.139-145). Some shopaholic actions are self-inflicted and are the result of ignorance or irresponsibility, while others are the result of a lack of impulse control. This careless behavior will have severe long-term consequences for our civilization. The attitude of "I want more, spend more, work more; rinse and repeat" is dragging the entire society to its destruction without providing any long-term advantages… It is like the traditional rat in a wheel, frantically racing but achieving nothing. The sole benefactors of this situation are marketers, who in most cases construct a marketing strategy based on customer behavior indicators (Dawson, p.171). Consumers will only purchase products that appeal to their self-concept demands; hence, a marketer's accurate targeting will undoubtedly result in an increase in sales. Since consumers' lifestyles are so intertwined with promotional methods, marketers may abuse this category of hyper-consumers with limited or no purchasing power. This article will examine how marketers take advantage of consumers who are unable to resist the urge to empty their wallets. The presentation will also discuss the ethical stance of marketers that earn a living from hyperconsumerism-based sales.

Marketers and Clients

The primary purpose of any marketer is to satisfy the demands of the customer, and if the seller detects a buyer's propensity to spend in excess without restraint, the marketer will most likely utilize this circumstance to his benefit. Consumers stand to lose a great deal in the absence of any guiding rules or laws. In most instances, marketers are able to persuade consumers to purchase practically useless products through persuasive advertising. On the top of the list of victims are compulsive consumers, who fall readily into the trap. The desire to purchase a product is present long before the marketing strikes. The advertiser deepens the situation by persuading the consumer to purchase more and more, while being aware of the ramifications of excessive purchasing. The victims of compulsive shopping are aware of the following bad effects: time wastage, market distress, social, family, and financial troubles (Black, pp.15-16).

How Marketers Take Advantage of Hyper-Consumers

The majority of people engage in excessive consumption of things and use of services, not out of necessity, but out of marketing and advertising-induced desires. Once marketers determine that a specific set of consumers is on a purchasing spree, they advertise and promote the product to stimulate additional consumption. They do this while knowing that excessive use is harmful to the customer. After learning that the victims' emotions have been twisted into consumption, marketers push them to continue purchasing despite their mounting debts. It's as if marketers have no conscience; it's wrong to mobilize hyper-consumers to maintain a trend for the sake of profit. Some products have reportedly been laced with addictive ingredients to keep consumers hooked on the product for life, compelling them to return again and again (Barber, 2008).

The Future Consequences of Hyperconsumerism

According to epidemiologist Dawson, overconsumption is more of an illness than a habit. Hyper consumerism, which he refers to as the love of possession, is the primary cause of the current reports of creeping diseases. He provides the example of excessive alcohol use, which can lead to irresponsible behavior, the destruction of homes, and ultimately the consumer's death. In the 21st century, one of the key causes of the recently observed "fat generation" is overeating. Very few people pay close attention to what they consume. People have disregarded all nutritionists' recommendations for a healthy diet (McElroy, p.175).

If the mentality of unbridled consumerism continues, our earth risks running out of resources. However, this is a realization that our marketing agents have either ignored or disregarded. They are frantically marketing their products and urging increased consumption. Even children have been targeted by marketing communities, which attempt to win their allegiance from birth and infantilize their parents so that they will dissuade their offspring from making alternative choices as they mature. With the continuation of this trend, the branding gurus will undoubtedly achieve their objective of enticing generation after generation to use their product, regardless of the adverse effects (Barber, 2008). There are individuals who are simply shopaholics; they buy anything they come across, even if they have no use for it. Insane as it may sound, such individuals really exist, and it is not to their liking that they purchase new items; the need to possess a new item is so strong that they spend all of their money to satisfy it… This generates a harvest period for marketers and the corporate community as a whole. The business community stokes the fire by planning very calculated and timely advertising propaganda. Since (in the developing world) all essential human requirements have already been met, the only way for marketers to earn sales is to construct and reinvent commodities that they will convince the people to become dependent on as their highest priority secondary wants. These individuals are attracted to the product's appearance rather than its functionality (Benson, pp.457-461). The marketing communities appear to have developed the sole viable strategy, which consists of perpetuating childish impulses and creating "unnecessary" adult items, given that all basic requirements have been met. This feeling of needing to possess needless stuff is what Black refers to as "Compulsive buying disorder." Black explains that this disorder causes subjective suffering and decreased judgment function. A person with anxiety suffers from a form of preoccupation that can only be alleviated by shopping. Black describes this as a four-step process consisting of anticipation, preparation, shopping, and spending. Immediately after completing the final phase, individuals have a melancholy sense of disappointment and a sense of being let down; they appear to derive no satisfaction from purchasing an item they so much desired (Black, p.17).

Consumption is not restricted to foodstuffs and other products; watching television is also included. It is a significant issue, especially among children. The time dedicated to viewing television is excessive and unnecessary. Barber describes this issue as "a homogenous lowbrow pulp" designed to appeal to individuals of all ages. Hyperconsumption contributes to environmental problems. Green-consumerism remains despite awareness, and green marketers are on record encouraging the public to consume as they (green marketers) do. Consumers are being duped by a money-driven community of marketers into purchasing items they do not need…the consequences are far too expensive to bear. If not injurious to the consumer's health, then it is adverse to the consumer's finances, which is a hard price to carry.

Marketing and Hyperconsumerism Ethical Issues

It is immoral and socially unacceptable to expose human beings to any sort of exploitation, and it is even bad when it includes those who may not be mentally competent. Therefore, the marketing communities have been cautioned against this tactic of taking advantage of hyperconsumers. This is a senseless and brutal devastation of both the current and future generations. Everyone should accept community responsibility and the development of an equitable consumption pattern based on growth, as opposed to unrestrained consumerism. However, hyperconsumerism has preconditioned humans to believe that purchasing provides some form of pleasure. For example, television attempts to portray the show Sex and the City as a true depiction of New York City, rather than as "a crime scene" People have begun to imitating TV personalities as if they were their own selves. Such television situations are impractical, but the audience does not realize this; hence, they become dissatisfied when comparing their real lives to those on television and failing to see the connection. The advertisements do not stop there; they continue to convince the public that purchasing will bring them happiness. Therefore, marketers stress that purchasing is possible for absolutely anything, including physical items, experiences, relationships, emotional fulfillment, and even religion…the list goes on. This is merely illegally throwing the masses off balance (Hotchkin, 2009).

Being Hyper is not reality, and dissatisfaction reigns when one confronts reality. For hyper-persons, reality is inadequate, inadequate, and powerless. The Earth is a paradoxical place where no one can be content with what they have. As with compulsive buyers who believe that "if they have this, then they will be happy," this will never occur. Instead, it may result in just disappointment and depression. In light of hyperconsumerism, it is unethical for the corporate community to make "dirty" money (www.peterhotchkinsermons.blogspot.com).

Conclusion

This essay has demonstrated that profit-driven businessmen contributed significantly to the society's hyperconsumerism. They wanted to continue their profit-making frenzy, so they created synthetic necessities that appeared to be life-essentials that no one could survive without. The paradigm espoused by the corporate community leaves no room for human variety and instead encourages adults to act and choose goods like children. On the basis of the evidence presented in the paper, it can be asserted with certainty that the problem of unbridled excess consumption originated with capitalism, which promoted spending rather than saving, narcissism rather than service to others, thereby destroying any possibility of democratic choice.

Consumers have the ability to break this vicious cycle by developing a plan to avoid carelessness and laziness. However, other research suggest that undesirable behaviors such as compulsive buying disorder may be deeply rooted in a person's genes. In (McElroy, pp.139-172), it is stated that abnormality is genetically transmitted from parent to child; therefore, instead of spending time convincing addicted heavy spenders against the idea, the government should impose regulations on marketers and other business organizations to prevent any form of exploitation. The paper also attributes the condition to a child's cultural and developmental factors as he or she grew up. It emphasizes that a person's upbringing in his youth may also contribute to the development of such a conduct in maturity. An individual afflicted with compulsive buying disorder may receive psychiatric treatment through a group method. But it depends entirely on the individuals. They should have the fortitude to face reality as it is, without hiding behind the hyper consumption culture. Humans should not place themselves in a position of divinity in which they believe they can control everything in life… let us all be realistic and live realistically.

Notes cited

Barber, Benjamin, R. Consumed: You believe you enjoy shopping? Sophie Morris conducted an interview in Norton on (2008). Web.

Benson AL ( Ed). I Shop, Therefore I Am: Compulsive Purchasing and the Quest for Identity. 457-483. New York, NY: Jason Aronson, 2000.

Compulsive Buying Disorder: Definition, Assessment, Epidemiology, and Clinical Management, CNS Drugs (2001), 15:17. Black, Donald W.

Dawson, Michael. The Consumer Trap: Marketing by Big Business in American Society. 2003, University of Illinois Press, pages 139-178, Champaign.

Hotchkin Peter. The Morality of Hyperconsumption From McElroy S, Satlin A, Pope Jr. H.G, Keck PE Jr. and Hudson, J.I. Treatment of compulsive shopping with antidepressants: a report of three cases. Ann Clin Psychiatry. (1991).

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Wal-Mart’s And Tesco’s Monopolies In Retail Industry Essay Help Site:edu

Introduction

The retail industry is comprised of several enterprises and organizations that distribute final goods to final consumers. In recent years, critics have acknowledged that monopolies in the retail business have a significant role in altering the form and structure of the market.

Monopolies have strength that is sometimes negligible and sometimes substantial. A broad definition of a retailer as any firm that sells goods or services to consumers includes businesses that would not be included under a narrower definition (Posner, 1999). The monetary volume attributed to retailing varies significantly depending on the definition, which is an evident definitional consequence. Wal-Mart is one of the monopolistic market-dominating retailers in the United States. Tesco holds a comparable position in the United Kingdom with a 30% market share.

The paper will evaluate Wal-past Mart's performance and market position in comparison to other retailers in the United Kingdom (Tesco Home Page 2008; Wal-Mart Home Page 2008). When one isolated process requires a significantly larger scale of operations for its efficient conduct than the other processes of manufacture, it is typically “disintegrated” from the remaining processes and handed over to larger, specialized firms that perform the necessary tasks for the output of a number of firms in the main industry.

If for any reason this disintegration becomes impossible, a new company must be large enough to undertake this disintegrating process efficiently before it poses a threat to incumbent companies. But obviously, the larger the capital required and the higher the addition of output relative to the existing output of the sector, the less probable it is that a competitor will consider it profitable to enter the market, and the longer the existing quasi-monopoly is likely to last (Posner, 1999).

Companies Overview

Wal-Mart

Wal-Mart, which has been in business since 1983, is the largest retailer in the world. Such a store's presence on the market becomes imperative.

Customers who purchase discounted and unpackaged goods from manufacturers at exceptionally cheap rates are Wal-target Mart's market. Wal-global Mart's development strategy has enabled the firm to maintain rapid growth through market expansion (Anderson, 2005). External factors, such as opportunities and threats, have a significant impact on the market position of a business. Environmentally speaking, the end of the 1990s was marked by changes in the European market, which affected numerous competitive characteristics and necessitated a time of reevaluation and adaptation.

The expansion of the planning framework as a result of the market's liberalization and the ensuing increase in competition has had substantial repercussions. The threat is that the elimination of physical barriers to trade and the newly-acquired freedom to travel around the European market have accelerated European expansion and increased the volume of European commerce. According to the market assessment, Wal-operations Mart's throughout this time period declined. Consequently to Davison and Smith (2005)

In Western Europe, where shops frequently have bigger market shares than Wal-Mart does in the United States, Wal-Mart faces strong competition. … In North America, Wal-Mart has struggled to harness the economies of scale to which it has become used. Tesco has demonstrated in Europe that it is on par with Wal-Mart not only in terms of market power, but also in its use of innovative IT, merchandising, and supply chain systems (Davison and Smith, 2005, p.2).

Wal-Mart was unable to maintain market dominance in Europe and was unable to "win" the price competition. A time of rationalization, while painful for enterprises that fail to successfully respond to the increased competitive threat, is an essential component of the elevated status in the world economic system, fostering competitive firms with the potential to prosper on a global scale (Wal-Mart Home Page 2008).

Tesco

The primary competitors of Walmart are Tesco and Asda, Metro, Ahold, and Carrefour. In North America, Wal-Mart has found it impossible to exploit the economies of scale to which it has become used. Tesco has demonstrated in Europe that it is on par with Wal-Mart not only in terms of market power, but also in its use of innovative IT, merchandising, and supply chain systems (Davison and Smith, 2005, p.2). Individuals' incapacity or reluctance to satisfy certain desires in a different manner accounts for the gap itself.

Obviously, a monopoly like Tesco must be built on the incapacity of other producers to introduce further substitutes to the market during the monopoly's duration. Monopolists generate profits by limiting output, which makes it possible for them to raise prices. (2007), Tesco's revenue was £46.6 billion and Walmart's revenue was $351.1 billion (Tesco Home Page 2008).

Monopoly in the Retail Sector

The bigger the amount of goods to be sold in the retail industry, the more efficiently the territory may be covered and the less the cost per unit of sales. In addition, as the volume of distribution grows, the likelihood that the manufacturer may find it profitable to promote his goods directly increases. This will not necessarily result in a significant saving of human resources, though it typically will. Unlike Tesco, Wal-Mart only holds 20% of the retail grocery industry and 22% of the toy market. Tesco holds a 30% share of the supermarket business (Wal-Mart Home Page 2008; Tesco Home Page 2008).

The monopolistic position of both retailers demonstrates that the closer contact between manufacturer and retailer frequently results in the development of a cooperative sales policy in which the retailer assists the manufacturer with window-space, and the manufacturer assists the retailer with window-dressing experts and local advertising. Where the monopoly is of the restrictive type, maintaining separate identities of individual constituent undertakings, and not allocating output within the monopoly based on the lowest cost, but rather with an intention to equalize outputs to a greater degree than competition would, the monopoly's efficiency will almost certainly be lower than that of competition, regardless of the form of competition (Has Tesco become a monopoly 2007).

Except for the unique economics of monopoly, it would be less efficient in every situation. The underlying issue is therefore what type of competition and monopoly critics are evaluating. If a completely coordinated monopoly were to succeed in a highly imperfect competitive environment, it is likely that the monopoly will be more efficient. If a restricted monopoly is to succeed in a nearly perfect competitive environment, it is likely to be less effective (Bernstein, 2005). Critics concede that unless we know in detail both the type of monopoly and the level of competition, we cannot conclude anything definitive a priori about the relative efficiency of monopoly and competition (McKenzie &amp; Lee 2008).

Price as a Crucial Aspect of Monopoly Position

Walmart and Tesco rely mostly on price reductions to attract and retain retail customers. The price reduction by the larger firm may be a local reduction of all of its prices, a general reduction of the prices of one or more items closely competing with the smaller firm's most profitable lines, or a local reduction of the prices of these specific products. However, there are frequently obstacles in the way of such local price reductions.

In certain marketplaces, it may be illegal to sell a product at extremely cheap costs with the intent of killing competition or establishing a monopoly. There may be, and frequently is, prejudice towards monopolists who strive to destroy small producers, and customers may rally to the defense of the small producer if they are aware of this (Bernstein, 2005). Frequently, there will be impediments to local and temporary price reductions of nationally marketed commodities whose prices are well-known and likely to be restored within a little interval. Where any or all of these obstacles have occurred, several strategies have been adopted to cease local price-cutting without the seeming deployment of such strategies (McKenzie &amp; Lee 2008).

Price competition across the board is a standard and totally appropriate economic tool. Even in a subset of the industry, price competition cannot be avoided when a younger company competes with an older one. Consequently, some nations have attempted to prohibit price discrimination unless disparities in local prices can be justified by differences in cost. Taking into account all relevant factors, it's possible that such a policy is optimal. However, it is crucial to recognize that such a policy also has negative effects. Often, some degree of pricing discrimination is a must for the provision of certain services (Anderson, 2005).

There may not be a common fee per visit that would allow a country doctor to make a livelihood, and there may not be a uniform rate per ton-mile that a railroad in an undeveloped region might be required to pay. Even if a uniform price would provide some service, if costs decline significantly with output and the optimum undertaking is larger than the local market's demand, discrimination may benefit both the people paying the higher and lower prices (McKenzie &amp; Lee 2008).

Influence on Consumers

Monopoly in the retail sector is detrimental to customers because it manipulates their interests and stifles market competition. Numerous individuals are ‘compelled’ to shop at Walmart and Tesco. The consumers' purchasing power is transferred to the producers of monopolized commodities. Thus, society as a whole may be better off in the sense that the production of these items needed less resources, but it may be worse off in the sense that purchasing power has been moved from one group to another. Thus, the practical problems of monopoly are predominately concerned with the question of whether the distribution of wealth is better or worse.

With any given volume of output, the amount of harm caused by a monopoly relies first on the amount of undesired monopoly revenue acquired by the monopolists, and second on the amount of that revenue that may be recovered by taxation or other means (McKenzie &amp; Lee 2008). Despite financial documentation and studies, Tesco was denied permission to open a mini-supermarket in Finchley, north London, due to the harm it would create to 24 local independent retailers. The decision was praised as an example of a council "standing up to massive retailers" (Tesco refutes monopoly charges 2007).

In general, in a country with a fiscal system that can recover for social expenditure or reduce taxes in other areas, monopolists will have less incentive to attempt to destroy their monopolies than they would in a country that fails to tax them so heavily or one that suffers from the depredations of monopolists of alien domicile who are able to transfer a substantial portion of their monopoly revenue abroad without paying taxes.

However, not all monopoly profits are always unwanted (McKenzie &amp; Lee 2008). It has been held for a long time, for instance, that trade unions that, by monopolizing the supply of labor in a given trade, raise its income above what it would be under unrestricted competition, or associations of poor agricultural producers, are equally likely to improve or worsen the distribution of wealth (Tesco refutes monopoly charges, 2007).

From this perspective, there may be instances in which the formation of a monopoly is desirable rather than bad. The solution to any specific question must largely depend on the allocation of monopoly money among the various monopoly participants. Monopoly money accrues primarily to individuals who execute entrepreneurial and risk-taking functions in a specific industry.

They are the industry's residual legatees, and they enjoy the surpluses. And their portion may be augmented by another source. A monopolist is frequently the only employer, or at least the largest employer, of a particular type of labor in the country or a particular region. If the monopolist reduces his output in order to raise the price of the commodity, he may be able to secure the quantity of labor he needs at a lower cost by causing unemployment (Posner, 1999; Ghemawat &amp; Mark, 2006).

The amount of utility or disutility measured by a dollar varies depending on whether the dollar is spent or earned by a poor or wealthy individual. Something that is produced profitably by the poor and consumed by the wealthy may create significantly more disutilities in production than it does in consumption. Even beyond the limit of profitability, something created by wealthy individuals and consumed by poorer individuals may generate a surplus of utility over disutility.

A monopolist like Tesco or Wal-Mart might approach the socially optimal production, and in the latter case would stray even further from it. Due to the likelihood that monopolies would cause harm in these two ways, it is desirable to exert control over their actions, a control that may at times be modest but at other times must be strict (McKenzie and Lee 2008). Critics begin by differentiating between the two possible approaches of preventing monopoly and accepting monopoly while regulating it (Tesco refutes monopoly charges 2007). When monopoly exists, the former hides not only its disadvantages but also its benefits. The latter aims to preserve the benefits while minimizing the drawbacks.

Some monopolies like Tesco and Wal-Mart enjoy powers that range widely; others enjoy a purely local monopoly, which is effective only so long as it is not made profitable to import goods into the monopolized area from another outside source of supply (McKenzie and Lee 2008). Perhaps it is convenient to refer to the second form of restricted monopoly as a conditional monopoly and monopolies that are not so circumscribed by potential external competition as unconditional monopolies. Since a conditional monopoly, for instance, might have either a long-term or short-term nature, we can distinguish between four distinct categories.

In the absence of vertical integration, it is evident that an existing manufacturer can only offer a retailer the option of carrying either his products or none of his items. The effectiveness of this threat depends on the extent to which a store offering exclusively the new product can thrive in the marketplace. This, in turn, depends on a set of other factors: first, the number of shops in that particular trade; second, the number of similar products created by non-monopolistic enterprises that are freely available for purchase (Posner, 1999).

Effects detrimental to society and local communities

Thusly

Wal-Mart’s And Tesco’s Monopolies In Retail Industry Essay Help Site:edu

Introduction

The retail industry is comprised of several enterprises and organizations that distribute final goods to final consumers. In recent years, critics have acknowledged that monopolies in the retail business have a significant role in altering the form and structure of the market.

Monopolies have strength that is sometimes negligible and sometimes substantial. A broad definition of a retailer as any firm that sells goods or services to consumers includes businesses that would not be included under a narrower definition (Posner, 1999). The monetary volume attributed to retailing varies significantly depending on the definition, which is an evident definitional consequence. Wal-Mart is one of the monopolistic market-dominating retailers in the United States. Tesco holds a comparable position in the United Kingdom with a 30% market share.

The paper will evaluate Wal-past Mart's performance and market position in comparison to other retailers in the United Kingdom (Tesco Home Page 2008; Wal-Mart Home Page 2008). When one isolated process requires a significantly larger scale of operations for its efficient conduct than the other processes of manufacture, it is typically “disintegrated” from the remaining processes and handed over to larger, specialized firms that perform the necessary tasks for the output of a number of firms in the main industry.

If for any reason this disintegration becomes impossible, a new company must be large enough to undertake this disintegrating process efficiently before it poses a threat to incumbent companies. But obviously, the larger the capital required and the higher the addition of output relative to the existing output of the sector, the less probable it is that a competitor will consider it profitable to enter the market, and the longer the existing quasi-monopoly is likely to last (Posner, 1999).

Companies Overview

Wal-Mart

Wal-Mart, which has been in business since 1983, is the largest retailer in the world. Such a store's presence on the market becomes imperative.

Customers who purchase discounted and unpackaged goods from manufacturers at exceptionally cheap rates are Wal-target Mart's market. Wal-global Mart's development strategy has enabled the firm to maintain rapid growth through market expansion (Anderson, 2005). External factors, such as opportunities and threats, have a significant impact on the market position of a business. Environmentally speaking, the end of the 1990s was marked by changes in the European market, which affected numerous competitive characteristics and necessitated a time of reevaluation and adaptation.

The expansion of the planning framework as a result of the market's liberalization and the ensuing increase in competition has had substantial repercussions. The threat is that the elimination of physical barriers to trade and the newly-acquired freedom to travel around the European market have accelerated European expansion and increased the volume of European commerce. According to the market assessment, Wal-operations Mart's throughout this time period declined. Consequently to Davison and Smith (2005)

In Western Europe, where shops frequently have bigger market shares than Wal-Mart does in the United States, Wal-Mart faces strong competition. … In North America, Wal-Mart has struggled to harness the economies of scale to which it has become used. Tesco has demonstrated in Europe that it is on par with Wal-Mart not only in terms of market power, but also in its use of innovative IT, merchandising, and supply chain systems (Davison and Smith, 2005, p.2).

Wal-Mart was unable to maintain market dominance in Europe and was unable to "win" the price competition. A time of rationalization, while painful for enterprises that fail to successfully respond to the increased competitive threat, is an essential component of the elevated status in the world economic system, fostering competitive firms with the potential to prosper on a global scale (Wal-Mart Home Page 2008).

Tesco

The primary competitors of Walmart are Tesco and Asda, Metro, Ahold, and Carrefour. In North America, Wal-Mart has found it impossible to exploit the economies of scale to which it has become used. Tesco has demonstrated in Europe that it is on par with Wal-Mart not only in terms of market power, but also in its use of innovative IT, merchandising, and supply chain systems (Davison and Smith, 2005, p.2). Individuals' incapacity or reluctance to satisfy certain desires in a different manner accounts for the gap itself.

Obviously, a monopoly like Tesco must be built on the incapacity of other producers to introduce further substitutes to the market during the monopoly's duration. Monopolists generate profits by limiting output, which makes it possible for them to raise prices. (2007), Tesco's revenue was £46.6 billion and Walmart's revenue was $351.1 billion (Tesco Home Page 2008).

Monopoly in the Retail Sector

The bigger the amount of goods to be sold in the retail industry, the more efficiently the territory may be covered and the less the cost per unit of sales. In addition, as the volume of distribution grows, the likelihood that the manufacturer may find it profitable to promote his goods directly increases. This will not necessarily result in a significant saving of human resources, though it typically will. Unlike Tesco, Wal-Mart only holds 20% of the retail grocery industry and 22% of the toy market. Tesco holds a 30% share of the supermarket business (Wal-Mart Home Page 2008; Tesco Home Page 2008).

The monopolistic position of both retailers demonstrates that the closer contact between manufacturer and retailer frequently results in the development of a cooperative sales policy in which the retailer assists the manufacturer with window-space, and the manufacturer assists the retailer with window-dressing experts and local advertising. Where the monopoly is of the restrictive type, maintaining separate identities of individual constituent undertakings, and not allocating output within the monopoly based on the lowest cost, but rather with an intention to equalize outputs to a greater degree than competition would, the monopoly's efficiency will almost certainly be lower than that of competition, regardless of the form of competition (Has Tesco become a monopoly 2007).

Except for the unique economics of monopoly, it would be less efficient in every situation. The underlying issue is therefore what type of competition and monopoly critics are evaluating. If a completely coordinated monopoly were to succeed in a highly imperfect competitive environment, it is likely that the monopoly will be more efficient. If a restricted monopoly is to succeed in a nearly perfect competitive environment, it is likely to be less effective (Bernstein, 2005). Critics concede that unless we know in detail both the type of monopoly and the level of competition, we cannot conclude anything definitive a priori about the relative efficiency of monopoly and competition (McKenzie &amp; Lee 2008).

Price as a Crucial Aspect of Monopoly Position

Walmart and Tesco rely mostly on price reductions to attract and retain retail customers. The price reduction by the larger firm may be a local reduction of all of its prices, a general reduction of the prices of one or more items closely competing with the smaller firm's most profitable lines, or a local reduction of the prices of these specific products. However, there are frequently obstacles in the way of such local price reductions.

In certain marketplaces, it may be illegal to sell a product at extremely cheap costs with the intent of killing competition or establishing a monopoly. There may be, and frequently is, prejudice towards monopolists who strive to destroy small producers, and customers may rally to the defense of the small producer if they are aware of this (Bernstein, 2005). Frequently, there will be impediments to local and temporary price reductions of nationally marketed commodities whose prices are well-known and likely to be restored within a little interval. Where any or all of these obstacles have occurred, several strategies have been adopted to cease local price-cutting without the seeming deployment of such strategies (McKenzie &amp; Lee 2008).

Price competition across the board is a standard and totally appropriate economic tool. Even in a subset of the industry, price competition cannot be avoided when a younger company competes with an older one. Consequently, some nations have attempted to prohibit price discrimination unless disparities in local prices can be justified by differences in cost. Taking into account all relevant factors, it's possible that such a policy is optimal. However, it is crucial to recognize that such a policy also has negative effects. Often, some degree of pricing discrimination is a must for the provision of certain services (Anderson, 2005).

There may not be a common fee per visit that would allow a country doctor to make a livelihood, and there may not be a uniform rate per ton-mile that a railroad in an undeveloped region might be required to pay. Even if a uniform price would provide some service, if costs decline significantly with output and the optimum undertaking is larger than the local market's demand, discrimination may benefit both the people paying the higher and lower prices (McKenzie &amp; Lee 2008).

Influence on Consumers

Monopoly in the retail sector is detrimental to customers because it manipulates their interests and stifles market competition. Numerous individuals are ‘compelled’ to shop at Walmart and Tesco. The consumers' purchasing power is transferred to the producers of monopolized commodities. Thus, society as a whole may be better off in the sense that the production of these items needed less resources, but it may be worse off in the sense that purchasing power has been moved from one group to another. Thus, the practical problems of monopoly are predominately concerned with the question of whether the distribution of wealth is better or worse.

With any given volume of output, the amount of harm caused by a monopoly relies first on the amount of undesired monopoly revenue acquired by the monopolists, and second on the amount of that revenue that may be recovered by taxation or other means (McKenzie &amp; Lee 2008). Despite financial documentation and studies, Tesco was denied permission to open a mini-supermarket in Finchley, north London, due to the harm it would create to 24 local independent retailers. The decision was praised as an example of a council "standing up to massive retailers" (Tesco refutes monopoly charges 2007).

In general, in a country with a fiscal system that can recover for social expenditure or reduce taxes in other areas, monopolists will have less incentive to attempt to destroy their monopolies than they would in a country that fails to tax them so heavily or one that suffers from the depredations of monopolists of alien domicile who are able to transfer a substantial portion of their monopoly revenue abroad without paying taxes.

However, not all monopoly profits are always unwanted (McKenzie &amp; Lee 2008). It has been held for a long time, for instance, that trade unions that, by monopolizing the supply of labor in a given trade, raise its income above what it would be under unrestricted competition, or associations of poor agricultural producers, are equally likely to improve or worsen the distribution of wealth (Tesco refutes monopoly charges, 2007).

From this perspective, there may be instances in which the formation of a monopoly is desirable rather than bad. The solution to any specific question must largely depend on the allocation of monopoly money among the various monopoly participants. Monopoly money accrues primarily to individuals who execute entrepreneurial and risk-taking functions in a specific industry.

They are the industry's residual legatees, and they enjoy the surpluses. And their portion may be augmented by another source. A monopolist is frequently the only employer, or at least the largest employer, of a particular type of labor in the country or a particular region. If the monopolist reduces his output in order to raise the price of the commodity, he may be able to secure the quantity of labor he needs at a lower cost by causing unemployment (Posner, 1999; Ghemawat &amp; Mark, 2006).

The amount of utility or disutility measured by a dollar varies depending on whether the dollar is spent or earned by a poor or wealthy individual. Something that is produced profitably by the poor and consumed by the wealthy may create significantly more disutilities in production than it does in consumption. Even beyond the limit of profitability, something created by wealthy individuals and consumed by poorer individuals may generate a surplus of utility over disutility.

A monopolist like Tesco or Wal-Mart might approach the socially optimal production, and in the latter case would stray even further from it. Due to the likelihood that monopolies would cause harm in these two ways, it is desirable to exert control over their actions, a control that may at times be modest but at other times must be strict (McKenzie and Lee 2008). Critics begin by differentiating between the two possible approaches of preventing monopoly and accepting monopoly while regulating it (Tesco refutes monopoly charges 2007). When monopoly exists, the former hides not only its disadvantages but also its benefits. The latter aims to preserve the benefits while minimizing the drawbacks.

Some monopolies like Tesco and Wal-Mart enjoy powers that range widely; others enjoy a purely local monopoly, which is effective only so long as it is not made profitable to import goods into the monopolized area from another outside source of supply (McKenzie and Lee 2008). Perhaps it is convenient to refer to the second form of restricted monopoly as a conditional monopoly and monopolies that are not so circumscribed by potential external competition as unconditional monopolies. Since a conditional monopoly, for instance, might have either a long-term or short-term nature, we can distinguish between four distinct categories.

In the absence of vertical integration, it is evident that an existing manufacturer can only offer a retailer the option of carrying either his products or none of his items. The effectiveness of this threat depends on the extent to which a store offering exclusively the new product can thrive in the marketplace. This, in turn, depends on a set of other factors: first, the number of shops in that particular trade; second, the number of similar products created by non-monopolistic enterprises that are freely available for purchase (Posner, 1999).

Effects detrimental to society and local communities

Thusly