Fastening Technologies Ltd.: Evaluation Prediction Essay Help Writing

Table of Contents
Executive Synopsis Introduction FTL: The instinct for survival References

Executive Synopsis

It is evident from the case study of Fastening Technologies Ltd (FTL) that the company has been experiencing a difficult period. Under the globalization regime, the overall corporate climate has grown intensely competitive, which may be a contributing factor. However, the corporation also appears to be experiencing organizational difficulties. Managing human resources in such a way that the business can achieve its declared mission and objectives is one of the greatest obstacles to the organization's success. In this age of cutthroat competition, every firm strives to make its aims and mission crystal obvious to all of its employees, so that their performance can be judged in relation to those objectives. The personnel must be motivated to accomplish these objectives. Consequently, the company's ineffective handling of industrial relations is extremely evident.

Introduction

Maintaining strong employee relations requires recognizing employees as empowered participants in attaining the organization's strategic objectives. Not only do employees feel appreciated, but such actions also serve to motivate and improve employee-employer relations. The simplest definition of motivation is the provision of motives. Managers' lack of positive motivation frequently results in the automatic provision of negative motivation. Motivation can be defined as an individual's state of mind that reflects the intensity of his or her inherent predisposition to exert effort toward a specific behavior. Motivating/demotivating elements impact how an individual applies his or her efforts towards a goal. The dedication, level of motivation, and attitudes of employees are revealed by their actions. Behavior comprises all overt and covert, vocal and nonverbal acts. This impacts the overall effectiveness of the individual and the effectiveness of the organization. At FTL, Steve attempted to formulate a vision and mission statement, which were printed on posters and widely disseminated throughout the company; however, the employees appeared quite confused and uninterested in the mission statement, which appeared to be the key ingredient in realizing the vision. This strategy indicates a lack of strategic concentration in the policies executed by FTL.

FTL: The instinct for survival

It is evident that FTL has endured several crisis-like situations in the past and emerged much stronger and leaner, but the times are now shifting. Survival of the fittest is currently the de facto standard in the business world. Previously, the Asia-Pacific area was not considered a manufacturing powerhouse, but China has now established itself as a formidable place for conducting industrial activities at exceptionally low labor costs. Since adopting a more open and liberal approach under Chairman Deng Xiao Ping's premiership, China's economy and the standard of living of its population have experienced extraordinary growth. China's membership in the World Trade Organization (WTO) allowed businesses from all over the world to operate in China during the era of free trade. The combination of these events and FTL's organizational shortcomings led to the decision to relocate some manufacturing operations to China.

During Anders' leadership, the company appears to have maintained healthy financial figures. However, after Anders van Hoy left to head a different division of Global and was succeeded by Gunther Schmidt, signs of fatigue began to appear on the horizon, and FTL began to feel pressure to maintain its profit margins. The holding company of FTL, Global, also opted to relocate the engineering centre to China, where labor costs were significantly lower. In reality, Global was ecstatic with FTL's performance throughout its first few years of operation following the acquisition. But as the UK economy entered tough times and the market for automobiles and white goods plummeted, FTL came under pressure. After three years of mounting losses, the parent company Global lost patience and removed the Managing Director, paving the way for a young, inventive Dutch engineer, Anders van Hoy, to turn the company around. Within twelve months, Anders was able to make the company significantly leaner and recruit a group of young, motivated engineers and managers to help turn the business around. A large number of senior employees were let to retire early in order to bring in new talent. Alistair Scott was similarly sophisticated in his implementation of HR techniques. Anders was able to write a turnaround tale with the help of Steve Davidson as Operations Manager and Phil James as Quality Manager. Ford, a well-known name in the automobile industry and a client of FTL, at one point appeared unwilling to do business with the company. However, Anders and his team were able to restore Ford's faith, and FTL also got the prestigious Ford Q1 award. His leadership style and vigor generated excitement among his squad. It is stated that a chain is only as strong as its weakest link. A team is also comprised of individuals with varying levels of ability, qualification, and motivation. A cohesive group of highly motivated and well-organized members may do wonders for an organization's growth. On the other side, a group of employees concerned primarily with their work and their own rewards may be detrimental to the organization's interests. Undoubtedly, an organization can function with the leader issuing orders to his or her subordinates and the subordinates carrying out the assigned tasks. However, a fundamental downside of this form of operation is that the employee does not experience a sense of belonging to the firm and, as a result, may not provide value and originality to the task. After completing his or her portion of a task, an individual cares the least about the end outcome. A team, however, facilitates the networking of individuals through the sharing of ideas and suggestions. This not only aids in maintaining the team's level of knowledge, but also improves the ultimate product and service. Even though the team worked long hours in this instance, the satisfaction of their results and the favorable comments from Global made the effort worthwhile. This collaborative spirit, however, vanished when Anders returned to the company's headquarters, and the ripple effect left the business in disarray.

Training and development is another essential area on which human resource managers should focus their attention when performing management duties. In light of the changing global economy, which necessitates a suitably skilled labor force, the majority of countries around the world are currently conducting reforms of their education and training systems, incorporating vocational streams and providing students with apprenticeship training. In a similar fashion, firms begin to recruit fresh talent from universities and institutes and prepare them for employment in the company. FTL has also recruited recent college graduates for apprenticeships. In truth, when a new college graduate prepares to leave university with a degree and diploma in hand, he/she is brimming with energy and ideas, but has little knowledge of how things operate in a realistic industrial setting. When the industry engages these young graduates as regular employees, they are frequently unable to match the company's expectations. This is detrimental to the organization as well as the individual's morale and motivation. Therefore, it was determined that training provided in colleges/institutions through only theoretical study is insufficient for skill acquisition and must be reinforced by training in the actual working environment. Therefore, it is believed that providing students with practical training immediately following the conclusion of the course or in their final year of study helps to prepare them for the suitable position. In this approach, the organization/demand industry's for trained labor is addressed, and the individual enters the company with a positive attitude and strong morale, which is sure to benefit both sides. The broad aims of apprenticeship training are as follows:

To give industry- and job-specific training to the students. To enhance the proficiency of recent graduates To provide a better match between college/institution acquired capabilities and industry needs, hence speeding the school-to-work transfer. To increase engagement of industry in the formal education and training system To establish a coherent system of occupational credentials To offer the industry with skilled and trained laborers.

FTL did have a practice of hiring engineering apprentices each year, but the majority of these graduates departed the company after completing their training since it was unable to provide them with viable employment options. This was a major failure on the company's behalf, as it was unable to utilize the services of these well-trained young recruits. Possibly as a result of this, the bulk of FTL employees today are considerably beyond the age of 40. Though Anders and Steve were skilled at identifying talent and providing brilliant apprentices with the opportunity to further develop their abilities and expertise through a post-apprenticeship training program, they were unable to pass on the tradition to subsequent managers.

Occasionally, the company's policies appeared incomplete, confusing, and demotivating. For instance, it was determined that the bonus distribution was not sufficiently motivating for the staff. If the reward system is executed consistently and subjects are integrated into the mainstream, it can do wonders for the organization's greater good (CIPD, 2005). FTL has invested much in training. The Dale Carnegie leadership and management development program was available to both senior and middle managers. A local institution also offered an in-house supervisory management course designed to train shop floor employees in approaches such as statistical process control and Total Quality Management. But for a long time, deserving and eager workers lacked access to training opportunities. Training was paid a high emphasis, although it was not organized methodically. In the absence of a structured training plan, managers frequently resorted to a non-systematic and biased selection process for trainees. Consequently, some employees complained about the lack of such chances.

The process of performance evaluation is a another murky area in FTL's management of human resources. The evaluation interview documentation did not serve its intended function. Managers occasionally signaled the need for training for a particular employee, but the suggestion was not always followed. Some managers were also deemed insufficient for evaluating the training's benefits. Performance management was defined by Michael Armstrong (2006) as a "systematic process for improving organizational performance by developing the performance of individuals and teams." It is a method for obtaining better results from the company, teams, and individuals by defining and controlling performance inside an agreed-upon framework of planned objectives, standards, and competency criteria. This strategy emphasizes effective people management and uses employees' performance to provide proper feedback and appreciation in order to help employees realize their full potential. Similarly, Baron and Armstrong (1999) define performance management as a process that helps to the successful management of individuals and teams in order to attain high organizational performance levels. As a result, it provides a shared knowledge of the desired outcomes and a strategy for leading and developing people that will ensure their achievement. In addition, they emphasize that it is a strategy that encompasses all of the organization's activities within the context of its human resource policy, culture, style, and communications systems. Depending on the organizational setting, the nature of the strategy can differ from organization to organization. ’

The purpose of performance evaluation is to evaluate and improve the human resource. The primary evaluation (i.e., evaluative) objectives of performance appraisal are as follows:

Providing subordinates with feedback and informing them of their position in the performance management mapping. Creating a database for the HR department to use in making placement, salary, and promotion decisions, etc.

Similarly, the developmental goals include the following:

Individual and organizational strengths and weaknesses are identified Subordinate counseling, coaching, career planning, and motivating Developing amicable labor relations.

However, FTL appears quite lost in terms of achieving these aims. After Anders moved for Germany, the company's progressive initiatives ran into trouble due to the absence of a coordinated approach among managers. Although Steve continued the human resource strategies introduced by Anders, within three years Steve began to question Alistair's professional competence. Alistair was from a heavily unionized background, and despite his good intentions, he seemed distrustful of collective bargaining and employee relations techniques. Initially, there was no trade union presence at FTL, but in later years, employees initiated such movements to bring distracting policies to the attention of management. After such relocations began, and as his disputes with Steve grew, the situation became a bit more complicated. Alistair had to relocate to Germany to join Anders' team at the European headquarters.

Catherine, who succeeded Alistair as HR manager, appears to be quite confident that gaining the trust of employees contributes to the enhancement of the organization's culture. She believes that employee relations procedures, particularly communications, may be enhanced. She contracted ACAS to conduct a poll of employee opinions on communication. The poll revealed that 47% of information communicated to employees is obtained through word-of-mouth. The HR manager then organized regular team briefings, and the company had an annual all-hands meeting to discuss the previous year's performance and future objectives. Catherine was also concerned with the training timetable and structured training plan. Catherine worked diligently to enhance the company's training and development administration. The company was able to get the "Investors in People" designation due to a tremendous amount of effort. That was indeed a moment of pride for Steve and his FTL crew. The prize was presented for the first time to a company in the south of England. However, the selection criteria for training must yet be refined.

Organizational issues precipitated another

Individual Vs. Organizational Buying Of Computer Essay Help Writing

Individual purchasing is typically a business-to-business transaction, whereas organizational purchasing is typically a business-to-consumer transaction. Organizational purchases are undertaken for the goal of additional production or resale, whereas individual purchases are made largely to satisfy the needs of individual customers. The buying decision-making process, the reason for the purchase, and the reasons affecting the purchase also vary between organizational and individual purchases. Consumer buying behavior is the decision-making process used to determine why, how, when, and what products and services to purchase, whereas organizational buying behavior is the decision-making process used by an organization to determine the need for the goods and services as well as identify and select the best brand or supplier from a group of brands and suppliers (Kotler & Armstrong 1993:93).

Purchasing a product or service is a process including decision-making. Therefore, the distinction between individual and organizational purchasing is a result of how people make decisions during the purchasing process and the factors that influence their purchases. Before making purchases, consumers, either individually or collectively, make decisions. Examples of organizational purchasing include purchases done by manufacturers, distributors, merchants, and government organizations, who utilize or resell the items they acquire. If the goods and services purchased are intended for resale, they are reprocessed before to being offered to a new customer. Wholesalers and retailers typically do not reprocess goods, but instead sell the actual product and services directly to the next buyer. Individuals purchase products primarily to meet their own needs; the concept of reselling does not enter their minds.

Demand for industrial goods and services predominates in the market segmentation of organizational purchasing. Due to the fact that the demand for industrial goods stems from consumer demand, individual purchases can occasionally induce organizational acquisitions. Products and services are purchased directly from the location of manufacture and the company providing the services. Organizational purchasing often involves a small number of consumers, but the purchase quantities are typically substantial since the goods are resold or consumed in huge quantities. Individual purchasing features numerous consumers in a single market who make few purchases. Individual purchasers acquire goods and services via a distribution channel intermediary, as opposed to directly from the manufacturer. In the case of acquiring a computer, the organizational buyer will order huge quantities of various computer types, as opposed to the eventual individual purchaser, who will purchase a single computer unit from a local store. As stated previously, organization purchases entail business-to-business transactions. Then, organizations will purchase numerous computers with the goal of reselling them, whereas individuals may obtain a single computer to assist them with their daily tasks, such as composing minutes, letters, and homework assignments in the case of a student.

Organizational and individual purchases of goods and services are characterized by vastly diverse characteristics. Products and services of an organization are typically "technical in nature and acquired based on specification" ( (Kotler & Armstrong 1993:43).

In this context, I mean that products for an organization are typically obtained to aid the organization in achieving its aims and objectives; hence, they are acquired based on the need for their use inside the company. In order to accomplish their aims, they need the assistance of those with technical expertise. Typically complicated and created for a specific purpose within the company, its acquisition is prompted by the organization's changing needs. The purpose of an organization's purchase is to maximize profits while minimizing expenses, whereas the objective of an individual's buy is to meet necessities. Individual products are basic, and their purchase may not have a significant impact on the consumer. Consequently, a company purchasing a computer will acquire enormous computers with high speed and memory, as the purpose of the computer is sophisticated and extensive, whereas individuals will acquire computers that are tiny, simple, and transportable.

Unlike individual purchases, organizational purchases do not have to be finished goods. Raw materials and spare parts may constitute products. A company purchases raw materials and semi-processed items, which are then refined and sold to the next consumer. Individual purchases are intended to address immediate demands, therefore finished goods are obtained. Computers are either purchased as a unit or as a collection of individual components. Computers may be assembled by a company that may be founded. As a result, it will acquire computer parts from various sources, assemble them, and sell them as finished computers to individual customers. An individual purchaser may not possess the requisite abilities to assemble computer parts into a computer; therefore, he or she must purchase fully constructed PCs.

As previously said, the products and services acquired by businesses are technological in nature and necessitate technical support and after-sale services from the vendors. In addition, unlike individual purchasers, the organization places a greater focus on rapid delivery. Due to the fact that major organizational acquisitions require a substantial amount of cash, the company may seek financial aid from entities such as banks. An individual's purchase does not necessarily necessitate technical support, but after-sale services and warranties can be provided. Computers are costly and require a substantial amount of money to purchase, especially if a large quantity is required. Individuals who purchase a single unit of a computer may not qualify for a loan, whereas organizations that purchase computers typically seek financial aid from banks. Organizational buyers and individual purchasers make decisions on the purchasing process differently. In contrast to the actions of people, which do not necessitate consultation, the operations of organizations are complex and governed by a set of processes and policies.

Organizational buys are trained professionals who adhere to predetermined purchase policies and processes. The purchasing of any commodity is preceded by extensive conversations and checks by the buyers. First, the aims and budgets of acquiring such a thing are outlined, and then the product's supplier is chosen according to a predetermined procedure. Typically, a bidding procedure and competitive bids are used to select the seller of the items and the provider of the services. Numerous decision-makers are involved in the buying process and purchase decision-making, all of which have an impact on the purchasing procedure. Purchasing inside an organization entails a series of negotiations between the buyer and seller or between departments of the business. Purchasing within an organization does not occur immediately, but rather is preceded by extensive discussion and negotiation.

Due to the country's production capacity and capability, many products acquired by organizations may not be available in their country. As a result, the company imports these products and goods. Organizations conduct their international purchases online; hence, the internet is widely used. Buying center is the common term for the central purchasing unit inside an organization. Individuals in the buying center unit have a shared understanding of the purchase's objectives and associated risks, as well as access to all pertinent information. The center is comprised of the product's end-users, who must be able to operate the product. Software developers, computer engineers, and computer users comprise the computer users of an organization. After negotiations and agreements, the unit's buyers have the authority to complete the transaction. There are three types of purchasing available to businesses: direct re-purchase, modified re-purchase, and fresh purchase. Straight re-buy refers to the contract-bound repurchase of an existing goods from the original seller. Members of a buying center may request a modified re-buy if they wish to alter the price, delivery model, or supplier of a product or service. The decision-makers authorize the individual to provide the necessary item. Individuals have a simpler purchasing procedure than businesses. Individual purchasing typically involves a single individual, who makes the option to purchase or not.

Individual purchasers may not follow any technique for purchasing this commodity unless the general procedure has been defined by the public at large. No one is required to be consulted before to taking any action towards acquiring the product; hence, there is no element pushing folks to purchase or not purchase. The vast majority of individual purchases are made locally, and the Internet may not be utilized extensively. One person makes a purchase at the local shopping center. An organization and an individual recognize problems differently during the computer purchasing process.

A person decides to purchase a new computer because he or she dislikes the current one. A business will discover that its rivals are utilizing more dependable computers that have been updated and upgraded. As a result, the organization will proceed with the purchase of these modern, more efficient machines. Individuals will rely on advertisements, word-of-mouth, and the Internet to obtain information about the new line of PCs. Organizations will construct an information-gathering center that compiles data on the evolution of the business environment. The purchasing department then searches for and identifies a viable provider of the new computers once all pertinent information has been acquired.

Individuals select computers based on their perceptions of the computer's features, and in their pursuit of the greatest computers, they move from mall to mall. The organization examines the computer provider based on their financial standing, facilities, and ability to provide the required computers. If the supplier fails to match the necessary standards, he or she is eliminated. The decision to purchase a computer mostly depends on the buyer's particular choice. He or she chooses a computer brand, pays the agreed-upon fee, and exits the shopping center with the computer. The organization's buying decision to acquire a computer will be negotiated, and the contract for the supply of computers will be awarded to the best supplier. The decision is based on the quality and cost of the computer, the way of delivery, and the technical competence of the supplier.

Individuals may return unreliable computers to the store, but the organization will evaluate the provider based on the established supply standards and communicate the quality of the computer to the supplier. If the supplier does not upgrade the computer, the company may not consider it for future transactions. In some instances, organizations purchase directly from the seller as opposed to going through intermediaries. The negotiation of prices, quantities, and discounts. The buyer-seller connection in organizational purchasing may foster a long-term cooperation between the parties. Additionally, the partnership may foster reciprocal arrangements in which each entity becomes a buyer and seller for the other. These arrangements may enhance the value and quality of consumer-facing products. Rarely are discounts permitted in individual purchases, since prices are often set. Again, because an individual shopper may make purchases from multiple malls, such one-to-one relationships may not be encouraged.

A company that manufactures computers may get into an agreement with another business whereby the latter will provide packaging materials for the former and the former will sell computers to the latter. The process of organization purchasing, the motives for purchasing, and the function of purchasing have a significant impact on organizational purchasing. Individuals may be influenced by advertisements, friends, family, and influential groups, as well as by cultural and economic considerations (Kotler & Armstrong 1993:113).

Bibliography

Marketing, An Introduction, Prentice-Hall, pp. 45-167, 1993, P. Kotler and G. Armstrong (Kotler & Armstrong 1993).

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Process Management In Firms With Quality Systems Essay Help Writing

Table of Contents Overview Key Learning Objectives Analyses of Relevant Statements to the Session Relevant Implications Academic Reflections

Summary

The purpose of this research is to investigate whether businesses may gain from process management when investing in quality. Companies may manage their processes even if the same processes have already been recorded through investments. In order to satisfactorily solve the study issue, the author researches and implements the four basic dimensions of business process management. These facets are regarded as the pillars of successful process development in organizations.

Initially, process awareness is one of the process management aspects that documents, names, and identifies an organization's processes. In this instance, a firm's primary process should be depicted using a process map so that the outcomes, rules, resources, responsibilities, and activities may be developed and dealt with at the appropriate time. Second, process ownership is another fundamental aspect of process management in organizations. An organization should have a principal process owner responsible for process outcomes. The third dimension of process management is process measurement. It says that performance and success require well defined objectives and goals. The final dimension is known as process enhancement. This dimension says that procedures must be continuously refined and enhanced in order to enhance outcomes.

Key Learning Objectives

From the article, it appears that firms who invest in quality systems do not engage in process management. In other words, process improvement, process measurement, process ownership, and process awareness cannot be influenced or affected by a company's quality management system. The research study's data collection and analysis reveals no association between functional orientation and process orientation among personnel. Moreover, organizations do not employ the same concerns to manage processes. This indicates that each company's aims and operating aspects are unique.

The majority of senior executives lack conceptual and practical knowledge of business process management. This explains why most businesses rarely achieve the same results. Thus, management failure in businesses has resulted in either the absence of or ineffective implementation of business process management.

Most businesses are not eager to improve their evidence-based procedures, which might benefit employees and other stakeholders. They appear to prioritize profit margin optimization at the expense of quality management systems. Unless they are required to do so by an external authority, management in most firms are hesitant to develop quality systems on their own. The ISO 9001 quality statement for organizations is an example. It specifies that the satisfaction of customers should be a primary consideration for managers in firms.

Despite the fact that quality methods may be well-documented by companies, employees may implement the same procedures rather differently. This is a significant takeaway from the article, since it reveals a lack of commitment to evidence-based practice among major organizations. They may adopt aesthetically pleasing designs, but lack practical uses on the ground.

There is a need for organizational managers and leaders to recognize that business process management is a complicated notion that extends beyond the simple flow of processes described in the majority of published works. A thorough understanding of these concepts may aid quality managers in the implementation of business process management in their organizations. Moreover, accountability principles remain unchanged in the majority of firms. Unless a company prioritizes performance accountability, it can be difficult to reap the benefits of process management.

Statements Relevant To the Session

Quality management systems and business process management. We are recording business procedures. Principal aspects of process management. Process enhancement, measurement of the process, ownership of the process, and process consciousness. Companies' quality systems have not produced the desired results. External mandates require businesses to develop quality management systems. Employees do not implement quality statements as required by companies. In businesses, management failure is pervasive. In order to transition quality management into process management, accountability is crucial. Business objectives cannot be easily translated into process objectives. Due to the low availability and accessibility of business process management data of companies, it is simple to determine the performance of processes.

Critical Evaluation

Even while the majority of managers in an organization are unwilling to use quality management systems willingly, this does not suggest that their business process managements are equally ineffective. It is essential to note that certain quality standards, such as the ISO series, might be draconian and unrealistic. ISO 9001, for instance, is based on the principle of customer satisfaction. However, client satisfaction may result from factors other than product quality. Prior to making a purchase, shoppers might establish satisfaction criteria based on the price, usefulness, and appearance of a product. Therefore, quality criteria suggested by government agencies and other regulatory authorities may be unreasonable when it comes to the management of business processes within companies. Possibly, managers in firms should seek to determine the quality requirements of their clients and then choose the most effective techniques.

In addition, redefining process management cannot ensure the necessary quality management and business process management in organizations. As much as business process management has been described as the flow of events within an organization, such a weak description cannot affect the practical consequences of the notion within an organization. It can be challenging to realize the benefits of business process management if organizational managers do not embrace and implement stringent quality systems that are compatible with the structure and operations of their businesses.

Relevant Implications

In the absence of process management, it is almost impossible for firms to determine if they are achieving customer satisfaction. A company's quality requirements are essential for establishing the finest standards for satisfying the diverse needs, interests, and preferences of its target consumers. Quality managers can strategically position themselves to provide customer-satisfying goods and services by implementing process management in tandem with solid quality systems in their organizations. Process management equips managers with pertinent strategies for satisfying customers and regulatory obligations.

On the other hand, due to managers' carelessness, the ideas of quality management have not been transferred into business process management. If quality improvement initiatives can be designed and implemented appropriately, process management can increase a company's profitability and social standing.

Academic Reflections

I've discovered that process management is a multifaceted phenomenon that does not just refer to the occurrence of events in a company in a methodical manner. In actuality, the four aspects of process management demonstrate the depth of the notion.

Additionally, the article presented a novel approach to quality management and process systems in enterprises. Managing processes in businesses, for instance, does not necessarily coincide with the quality system. Numerous firms manage their processes counter to what is outlined in their quality systems documentation. Although the article has extensively addressed the research question in this study, I suppose there is still a need to undertake an empirical investigation of whether the undocumented quality systems translate to positive process management in organizations.

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Discrimination In The Workplace: Discrimination At SafePlanet Essay Help Writing

Table of Contents
Introduction Case Analysis of Discrimination at SafePlane References

Introduction

Discrimination in the workplace is widespread throughout the globe. Most victims of discrimination are women. Discrimination is described as "unfair treatment of an individual or group based on prejudice." (Wordnet: noun search) It is hard to think that, even in this advanced age, the world still faces severe discrimination in the job. Occasionally, innocent employees are victimized in order to safeguard the interests of others. This is the situation on SafePlanet. Lucy, a female employee, was impacted by the discriminatory action taken by the firm. When an employee receives unfavorable or unfair treatment because of their race, religion, national origin, disability or veteran status, or other legally protected traits, workplace discrimination exists. (2009's Understanding workplace discrimination: a definition of workplace discrimination)

Discrimination at SafePlanet: a Case Study

This is a case study on the discrimination suffered by SafePlanet employee Lucy. SafePlanet is a significant nonprofit organization. Even though the corporation provides equal opportunity and has a policy against discrimination in the workplace, it was accused of engaging in severe prejudice against a female employee. Lucy was a dedicated employee. She was aged 58 years. Lucy applied for a position in the senior section of the same organization when a vacancy emerged. However, her application did not make the cut. She was quite upset and dissatisfied with the HR personnel in charge of recruiting and selection. She was confident that she was sufficiently qualified for the position. In addition, she believed in the company's principle of equal employment opportunity in which candidates are picked only on the basis of merit. When Lucy enquired as to why she did not go to the next phase of selection, she was informed that there were other candidates who were more qualified. Lucy was relieved to learn that their selection was based only on merit after hearing this. Later, at the time of the last round of selection, when Lucy investigated to see who had been chosen and on what basis, the truth was revealed. The two finalists were men and younger in age. She knew that age and gender-based discrimination existed. The corporation forgot its equal opportunity and merit-based selection policy. Comparing herself against the two finalists on the basis of merit, Lucy discovered that one applicant is on par with her and the other is below her. By learning this, she felt a great deal of disappointment and anger towards those responsible for these situations. She believed that age would not be a barrier for the diligent, and she was convinced that she would perform well in the new role if selected.

Here, two types of discrimination occurred. One is prejudice based on age, while the other is discrimination based on gender. Age discrimination is one of the most prevalent forms of job discrimination. Age discrimination occurs when an employee is refused or delayed any perks or chances owing to him or her because of his or her high or low age. Direct or indirect age discrimination is possible. Direct age discrimination is when an employee is treated unfairly because of their age. Direct discrimination consists of denial of promotion, termination of an employee, etc. Indirect discrimination refers to the provision of a rationale or policy in the selection process that benefits certain candidates at the expense of others. Age and the workplace in 2006

Age discrimination occurs for several causes. Due to their years of expertise and the need to compensate them more than younger employees, the corporation may believe that maintaining older personnel is somewhat costly. Employers often believe that as employees age, their passion and initiative will decrease, which will ultimately have a negative impact on the organization's business and performance as a whole. However, evidence indicates that age is not a barrier to improved and productive job performance. GO60.com reports that "there is no correlation between age and job performance." (Doyle 2009).

Therefore, the company's treatment of Lucy was unacceptable. She truly merited the newly reported position of seniority. At the very least, the corporation might have included her on the list of finalists. A positive, non-discriminatory work environment is vital for achieving employee satisfaction and maintaining them over time. Discrimination based on age demoralizes workers and lowers their morale. Sometimes they quit their occupations and seek employment elsewhere. All of these will impact the company's reputation and business. "As of October 1, 2006, the Employment Equality (Age) Regulations prohibit age-based discrimination against workers, employees, job seekers, and trainees." (Age in the Workplace: Introduction, 2006, page 3)

Lucy suffered sex prejudice as a second form of discrimination. The people inhabit a world dominated by men. Women are consistently mistreated by society. Some believe that women cannot perform all of the same tasks as males. The women are regarded as weak. In addition, society believes that certain jobs cannot be entrusted to women because they are incapable of performing them.

"According to Reskin (1988), neither equivalent worth nor sex integration of jobs will significantly diminish gender disparities in employment. She proposes that "the fundamental cause of the income gap is not sex segregation, but rather men's desire to preserve their privileged position and their ability to do so by establishing rules to allocate valuable resources in their favor" (Reskin 1988, p.61). (Gender discrimination in the workplace: dimensions, processes, and variations by race and class, 2008, page 5)

The confidence of female employees will be negatively impacted by prejudice against the female community.

Researchers and management professionals have studied the difficulty of women breaking through corporate "glass ceilings." A glass ceiling is an apparent obstacle to advancement to a company's greatest level. ” (Ohlott, Patricia, J, Ruderman, Marian N & McCauley, Cynthia, D 1994, pp.46-67).

Another difficulty Lucy encountered was her seclusion. Young personnel may not always provide sufficient regard to the elderly. They could attempt to isolate them. In addition, she refrained from taking more action out of apprehension that her isolation would negatively impact her future. She recognized that there would be fewer employees supporting her. In addition, she failed to provide credible evidence to demonstrate that she was the victim of discrimination. If she takes additional action without definite evidence, she will be troubled, as it may bring her future issues. Although she attempted to forget, the feelings continued to torment her. It is known that no one can quickly forget if a promotion opportunity is missed without the individual's fault. She was finally offered a position comparable to the one she had applied for in a different section of SafePlanet. Her location of employment was far from her current residence. She was unable to accept this opportunity due to the fact that Lucy cares for her elderly parents.

As Lucy was confident that she had been subjected to multiple forms of discrimination, she may pursue further action. There are so many laws that protect employees who are discriminated against. These statutes give employees with many choices for pursuing additional legal action. Lucy is permitted to submit a complaint with the tribunal. If the tribunal determines that Lucy's case is valid, it orders her employer (SafePlanet) to compensate her. She may also apply for the same senior position at other organizations. The circumstance may not be identical in all firms.

To eradicate various forms of discrimination within the firm, the business must take all required measures. If discrimination exists in an organization, there will be a high rate of employee turnover, which will increase the cost of recruitment, selection, training, and development. The company should preserve work-related and other records of all employees, including performance evaluation information, so that when an issue regarding promotion or filling a senior vacancy arises, the company may simply access these documents and determine who deserves the vacant job. The firm must ensure an effective HR Management that is acceptable to all employees. It should establish a clear policy for recruiting, selection, training, development, promotion, transfer, etc., so that incidents like Lucy's do not occur in the future.

Conclusion

In this modern and socially evolved society, the fundamental idea of job equality is not followed in the majority of firms. In an organization like SafePlanet, it is assumed that incidents of this nature will not occur. One ought to practice what they teach. In other words, the scenario should not resemble one in which an institution claims to oppose discrimination but engages in various forms of prejudice internally. Therefore, the organization must take the appropriate measures to eliminate prejudice in the workplace.

References

Age and employment in 2006, Web investor in people.

Age and the workplace: Introduction, Investor in People, Internet, 2006.

Age discrimination: how old is too old, About.com: Job Searching, Internet, Alison Doyle, 2009.

Gender discrimination in the workplace: dimensions, processes, and racial and socioeconomic variations 2008, Web, All-Academic Research.

Ohlott, Patricia, J., Ruderman, Marian N., and McCauley, Cynthia, D., "Gender differences in managers' development job experiences," Academy of Management Journal, vol.37, no.1, pages 46-67, 1994, Web.

Understanding workplace discrimination: what is workplace discrimination?

Net search: noun, 2009. Internet.

[supanova question]

Apple Incorporation’s Strategic Analyses Essay Help Writing

Abstract

This paper will explore Apple's internal and external environment, using models such as PEST factors, Ansoff matrix, Porter's five forces, strengths, weaknesses, opportunities, and threats to aid in the analysis. In conclusion, this strategic plan will evaluate the iPod's contribution to the company's recovery from turbulence and make a few recommendations for the company's future.

Introduction

Apple Computer is one of the most well-known names in the PC business worldwide. In 1997, Apple had endured five years of turmoil, and Dell had recommended that it shut down and return the money to its shareholders. However, since returning to Apple in 1997, CEO Steve Jobs has taken several dramatic steps, and in 2006, after evaluating the stock price, Jobs stated that Apple is more valuable than Dell Computer.

This case study aims to determine Jobs's role in resolving long-standing issues and to investigate Apple Inc.'s entrance opportunities and strategies. This paper will analyze Apple's internal and external environment using several models, such as PEST factors, Porter's five forces, SWOT analysis, and Ansoff matrix.

Finally, this strategic plan will evaluate the iPod's contribution to the company's recovery from turbulence and will offer few recommendations for the company's future.

History of Apple Inc.

Apple Inc. was founded in 1976 by Steve Jobs and Steve Wozniak, who created the Apple I computer circuit board. In 1978, the business introduced the Apple II to provide everyone with an easy-to-use computer. According to the 2009 annual report, this company currently designs personal computers, manufactures mobile phones, develops convenient digital music and video systems, offers its own software products such as Mac OS X, and markets its products, which include in-house and outsourced software and networking solution products. The company has a global presence in online retail and wholesale, including third-party warehouses and value-added resellers for its own and third-party products such as printers, speakers, iPods, iPhones, etc. The company's target consumers include government bodies, educational institutions, SMB1 businesses, and individuals.

PEST analysis

Political Factors: To reduce intellectual property claims, the US government had enacted a number of regulations that would impact the implementation of its policy. In addition to these laws, trading policies, pressure groups, political trends, and shareholders' demands have an effect on the company's operations.

Economic Factors: From 1992 to 1997, this company endured a severe financial crisis, and Steve Jobs rescued it from insolvency.

This data suggests that Desktops, portables, iPod, Peripherals, and other hardware, software, and services were lucrative business products for Apple.

Social Factors: Apple has invested in and will continue to invest in programs to enhance reseller sales, and to do so, it should have efficient staff. Therefore, Apple inspired its employees, altered its lifestyle and culture, and eliminated any gender discrimination.

Technological Factors: According to its 2006 annual report, Apple Computer has prioritized the use of technology in education because effective integration of technology leads to higher levels of achievement. Additionally, Apple Computer provides hardware, software, and solutions to clients in the IT and scientific markets.

Analysis of the Five Forces

Porter 5 force analysis graphic

Competitive Rivalry: There is a vast array of competitors that sell similar goods, including -Packard, IBM, Gateway, Acer, Sony, Fujitsu-Slemens, Legend, Sun-Micro-systems, Enterasys, and Nortel, but the connection between them is not always one of competition.

Threat of Substitute: The threat of substitutes in the industry is quite strong because we are living in a technological era in which competing firms in the industry are attempting to introduce new upgrading products.

Threat of New Entrants: The threat of new entrants is very minimal for Apple Inc., as capturing the market would need advanced technology, extensive experience, and enormous investments.

Apple acquires its raw materials from single or limited sources, which exposes the company to significant supply and pricing concerns. As a result, Apple requires additional suppliers with considerable bargaining strength.

Bargaining Power of Buyers: The bargaining power of buyers is moderate because competitors offer identical items with advanced technology, thus Apple's customers may become IBM's customers if IBM offers a low price and superior service.

Analyse stratégique de Apple Inc.

Four important Apple Computer Inc. strategies are:

Apple's strategy also includes expanding its distribution network to effectively reach more of its targeted consumers; Apple desires to support the advancement of third-party products; Constant investment in research and development is essential for the development and improvement of innovative products and technologies. Apple's commercial strategy takes advantage of the company's unique ability to design and develop its own operating system.

Boykin et al. (2008) stated that Apple Inc. should lead a fresh campaign into the professional market with its best-selling i-pod to develop a new source of enormous revenue with a lower-priced but higher-revenue offering with the goal of gaining a substantial market share. This would allow Apple to have a greater advantage over its rivals in the long run. Apple has advocated pushing important events to recruit corporate clients for the ipod, as the ipod has a larger market share in the business sector. It was also indicated that i-next-generation Pod's product development required more research and development in order to include PowerPoint presentations and PDF viewing.

Strategic Advantage

Apple (2009) said that the company has the potential to enjoy a competitive edge as a result of its better innovation and integration of the total solution with hardware and software. PCs, the i-Phone, i-Tunes, the i-Pod, and some software are examples of products that can assist a competitive edge. Apple Inc.'s distribution network is sufficiently robust to offer competitive benefits for the company. In addition, the company has sufficient resources and is willing to devote them to face any challenge posed by competitors by providing the product and service at a very low price, even at a loss, in order to break the pacts and join collaborations of competitors, which provides Apple Inc. with a significant degree of competitive advantage.

Analysis of the Apple Inc.

Strength

Strongest market stability and brand recognition; Apple Inc. engages in a number of highly competitive businesses and is widely recognized as a pioneering innovation in the PC, mobile, and consumer electronics industries; Directors and workers that are skilled, experienced, talented, and energetic run the company and give product guidance, service, and training; It has more than 34,300 full-time permanent employees and an additional 2,500 full-time temporary workers and independent contractors with similar rights. It had 273 retail shops in total, including 56 in the overseas market; Apple sells iPhone in more than 80 countries, with plans to distribute the product globally. In 2009, its net sales were $ 36,537 million, up to $ 19,315 million in 2006; in 2006, PCs were significantly easier to use due to technology advancements. The audit method adheres to PCAOB2 requirements, and the audit encompasses the company's performance strategy, risk management system, external and internal control, fiscal condition, and the company's ability to produce a successful report.

Weakness

The financial health of vendors; Due to the credit crisis, the US has lost a great deal of confidence and adopted a weak currency for international trade, which has weakened Apple's export market share. In the United States market, companies such as Dell, Hewlett-Packard, IBM, and Compaq had established strong sales that Apple would need to replicate, such as a decrease in demand for Apple's hardware products.

Opportunities

Though it raises prices on goods and services in markets outside of the United States, demand for its products is increasing; joint ventures, mergers, and acquisitions with renowned companies allow it to rapidly expand its business. For example, Apple and IBM formed a joint venture called Taligent with the aim of developing a revolutionary new operating system. Apple has the financial resources to develop their operations outside the United States.

Threats

In 1981, when IBM entered the personal computer (PC) industry, for instance, this company's competitive position shifted drastically. Some beneficial moves taken by competitors, such as joint ventures, mergers, and acquisitions, may result in enormous losses. escalating claims of intellectual property; As Apple's operating system is dependent on the success of distributors, employees, and other merchants, the company's future is in jeopardy. However, due to the global financial crisis, many resellers operate with low operating margins.

The Ansoff Matrix

Ansoff matrix is a tool that facilitates the identification of a product's growth through market penetration, market development, product development, or diversification (Manton 2008). The Ansoff matrix can appear as:

Grid depicting product/market expansion

Market Penetration: According to Kotler and Keller (2006), this business strategy aims to expand sales volume in the present market by attracting clients. They noted that in order to implement the plan, the company must understand the success characteristics of the existing product and the existing market. Apple can follow this strategy because it has many products currently on the market. There are several related strategies, such as exploiting irregular users to convert them into regular users and attacking competitors' consumers to convert them into the organization's consumers, but the exploitation of existing relationships with consumers is the most effective way to reach the ultimate objective.

Market Development: According to Kotler and Keller (2006), businesses use this technique to introduce their existing products to new markets or market groups. Apple may employ this technique to spread its existing products outside of the United States, but it must first identify a comparable market.

Product Development: It is normal for Apple to provide new products to current markets in order to increase its commercial profit. For instance, in 2006, Apple used product development to recover from a near-bankruptcy by introducing the iPod.

Diversification: It is uncommon for Apple to employ this diversification strategy, as new goods in new markets may increase risk, despite the fact that there are market prospects for brand awareness and sufficient investment capital to capitalize on these chances.

Steve Jobs' contribution to the resolution of Apple's long-standing issues.

Steve Jobs, according to Yoffie & Slind (2007, p. 5), took swift action to solve Apple's long-standing problems. For instance, in 1997, he announced that Microsoft had agreed to invest $150 million in Apple to develop core products such as Microsoft Office, and then he abruptly ended the Macintosh licensing program. He planned for Apple to spend $110 million to acquire the assets of the leading clone manufacturer, Power computing, including its Mac OS license. However, his first real coup was the launch of the iMac, and in 1998, he halted the production of the Newton and portable PC for education because they were losing projects. Yoffie & Slind (2007, p. 5) stated that Jobs brought the business around and then established it on a path of aggressive innovation, but he did so mostly due to his own strong leadership. Yoffie & Slind (2007, p. 5) stated that Jobs remained at the center of all decision-making in product development, strategy, and other crucial areas, and they concluded that Apple's ability to maintain its innovative edge if and when Jobs left the business remained an unresolved question.

What effect has the iPod had on the success of Apple?

Ana (2005) noted that the i-pod represents a turning point and economic recovery path for Apple Inc. This little portable digital media player was announced by Apple in October 2001, and it has been a phenomenal success in terms of customer satisfaction and sales globally. Ipod also spawned a new class of Apple's rivals, including mobile phone manufacturers and marketers such as Sony, Nokia, Samsung, and Google phone, which placed ipod in the following market position:

Now i-Pod has created enormous value for mobile phone users by providing software that is difficult to replicate. Even though competitors are working to develop similar products, i-Pod has maintained its success by positioning itself ahead of the competition and releasing a constant stream of new features.

According to Zaky (2009), Apple's iPod revenue climbed by 75% in 2006, while Apple's overall income grew by 38%. In the fiscal years 2006-2007 and 2007-2008, Apple's total revenue climbed 75%, while i-contribution Pod's was smaller. In the third quarter of 2009, i-contribution Pod's was 14.2%, while i-contribution phone's was greater.

Apple's I-pod is influencing MP3 player sales by capturing 65 percent of the market. Apple is also making continual efforts to add new functions to the i-Pod, particularly phone calls, e-mail, and web browsing, and the i-Pod has captured 29% of the flash memory market with its enormous storage capacity. With 22 million devices sold during the third quarter of 2009, the i-Pod has become the most popular audio player. This success of the i-Pod has produced enormous income for Apple and shown the route to economic recovery.

Recommendation

The historical data indicates that joint ventures with competitors have increased the company's net sales, therefore it should continue to pursue this approach in the future. Numerous large companies have failed as a result of the global financial crisis and noncompliance with government rules and regulations; therefore, the company should focus more on its audit process for external and internal control, despite the fact that its audit provides a reasonable basis for its opinion. Apple should consider transacting in the international market using a strong and stable currency, such as the Euro, to mitigate the negative impact of the U.S. dollar's decline in value owing to the credit crisis. It necessitates the linkage of all financial functions for enhanced visibility and control over financing activities; Apple should continue to spend in programs designed to increase reseller sales, such as staffing chosen resellers' storefronts with Apple employees and enhancing product placement displays. It should raise its budget for promotional initiatives and come up with novel concepts, such as a framework for achieving rapid progress in other areas, such as networking, consumer electronics, storage, etc. Apple's 2009 annual report suggested that in order to remain competitive, the company should increase its investment in R&D and marketing and advertising to maintain or improve its position in the markets in which it competes; By calculating business risk, Apple can identify the uncertainty inherent in the firm's Return on investment capital, so it should precisely measure the long-term and short-term risk factors, liabilities, trade credit, and accrued liabilities.

Conclusion

The outcome of this strategic analysis is contingent on the implementation of the selected strategies and would be measured by the rise in market share and revenue generation. Under the current economic downturn, with the intense pressure of competitors and other external forces, if the sales volume indicates any growth, this should reflect the effectiveness of the adopted plan. The concerns found in this analysis would promote the rudiments of attaining a considerable competitive advantage and urge that Apple's internal strengths and limitations should be used for future research and development.

Reference

Ana, S. (2005) Apple introduces a low-cost computer and capitalizes on iPod's popularity. Online High Beam Research. Web.

Apple Corp. (2009) Apple Inc. annual report for 2009: Form 10-K. Web.

Apple Inc. (2006) Form 10-K Annual report for 2006.

Boykin, R., Fiorini, A., Tanaka, L., and Webb, M. (2008). Apple Inc. Case Study# 1: iPhone. Web.

Kotler, P., and Keller, K. L., 2006. Marketing management, 12th edition, Pearson Prentice Hall, New Jersey.

Yoffie, D., and M. Slind. Apple Computer, 2006. Harvard Business School, HBS No. 9-706-496, 2007.

iPod Sales Only Account for 14.2% of Apple's Q4 Total Revenue, Zaky, A. 2009. Web.

Appendix

Footnotes

1 – Small And Mid-Sized Business

2 – Public Company Accounting Oversight Board (United States)

[supanova question]

Apple Incorporation’s Strategic Analyses Essay Help Writing

Abstract

This paper will explore Apple's internal and external environment, using models such as PEST factors, Ansoff matrix, Porter's five forces, strengths, weaknesses, opportunities, and threats to aid in the analysis. In conclusion, this strategic plan will evaluate the iPod's contribution to the company's recovery from turbulence and make a few recommendations for the company's future.

Introduction

Apple Computer is one of the most well-known names in the PC business worldwide. In 1997, Apple had endured five years of turmoil, and Dell had recommended that it shut down and return the money to its shareholders. However, since returning to Apple in 1997, CEO Steve Jobs has taken several dramatic steps, and in 2006, after evaluating the stock price, Jobs stated that Apple is more valuable than Dell Computer.

This case study aims to determine Jobs's role in resolving long-standing issues and to investigate Apple Inc.'s entrance opportunities and strategies. This paper will analyze Apple's internal and external environment using several models, such as PEST factors, Porter's five forces, SWOT analysis, and Ansoff matrix.

Finally, this strategic plan will evaluate the iPod's contribution to the company's recovery from turbulence and will offer few recommendations for the company's future.

History of Apple Inc.

Apple Inc. was founded in 1976 by Steve Jobs and Steve Wozniak, who created the Apple I computer circuit board. In 1978, the business introduced the Apple II to provide everyone with an easy-to-use computer. According to the 2009 annual report, this company currently designs personal computers, manufactures mobile phones, develops convenient digital music and video systems, offers its own software products such as Mac OS X, and markets its products, which include in-house and outsourced software and networking solution products. The company has a global presence in online retail and wholesale, including third-party warehouses and value-added resellers for its own and third-party products such as printers, speakers, iPods, iPhones, etc. The company's target consumers include government bodies, educational institutions, SMB1 businesses, and individuals.

PEST analysis

Political Factors: To reduce intellectual property claims, the US government had enacted a number of regulations that would impact the implementation of its policy. In addition to these laws, trading policies, pressure groups, political trends, and shareholders' demands have an effect on the company's operations.

Economic Factors: From 1992 to 1997, this company endured a severe financial crisis, and Steve Jobs rescued it from insolvency.

This data suggests that Desktops, portables, iPod, Peripherals, and other hardware, software, and services were lucrative business products for Apple.

Social Factors: Apple has invested in and will continue to invest in programs to enhance reseller sales, and to do so, it should have efficient staff. Therefore, Apple inspired its employees, altered its lifestyle and culture, and eliminated any gender discrimination.

Technological Factors: According to its 2006 annual report, Apple Computer has prioritized the use of technology in education because effective integration of technology leads to higher levels of achievement. Additionally, Apple Computer provides hardware, software, and solutions to clients in the IT and scientific markets.

Analysis of the Five Forces

Porter 5 force analysis graphic

Competitive Rivalry: There is a vast array of competitors that sell similar goods, including -Packard, IBM, Gateway, Acer, Sony, Fujitsu-Slemens, Legend, Sun-Micro-systems, Enterasys, and Nortel, but the connection between them is not always one of competition.

Threat of Substitute: The threat of substitutes in the industry is quite strong because we are living in a technological era in which competing firms in the industry are attempting to introduce new upgrading products.

Threat of New Entrants: The threat of new entrants is very minimal for Apple Inc., as capturing the market would need advanced technology, extensive experience, and enormous investments.

Apple acquires its raw materials from single or limited sources, which exposes the company to significant supply and pricing concerns. As a result, Apple requires additional suppliers with considerable bargaining strength.

Bargaining Power of Buyers: The bargaining power of buyers is moderate because competitors offer identical items with advanced technology, thus Apple's customers may become IBM's customers if IBM offers a low price and superior service.

Analyse stratégique de Apple Inc.

Four important Apple Computer Inc. strategies are:

Apple's strategy also includes expanding its distribution network to effectively reach more of its targeted consumers; Apple desires to support the advancement of third-party products; Constant investment in research and development is essential for the development and improvement of innovative products and technologies. Apple's commercial strategy takes advantage of the company's unique ability to design and develop its own operating system.

Boykin et al. (2008) stated that Apple Inc. should lead a fresh campaign into the professional market with its best-selling i-pod to develop a new source of enormous revenue with a lower-priced but higher-revenue offering with the goal of gaining a substantial market share. This would allow Apple to have a greater advantage over its rivals in the long run. Apple has advocated pushing important events to recruit corporate clients for the ipod, as the ipod has a larger market share in the business sector. It was also indicated that i-next-generation Pod's product development required more research and development in order to include PowerPoint presentations and PDF viewing.

Strategic Advantage

Apple (2009) said that the company has the potential to enjoy a competitive edge as a result of its better innovation and integration of the total solution with hardware and software. PCs, the i-Phone, i-Tunes, the i-Pod, and some software are examples of products that can assist a competitive edge. Apple Inc.'s distribution network is sufficiently robust to offer competitive benefits for the company. In addition, the company has sufficient resources and is willing to devote them to face any challenge posed by competitors by providing the product and service at a very low price, even at a loss, in order to break the pacts and join collaborations of competitors, which provides Apple Inc. with a significant degree of competitive advantage.

Analysis of the Apple Inc.

Strength

Strongest market stability and brand recognition; Apple Inc. engages in a number of highly competitive businesses and is widely recognized as a pioneering innovation in the PC, mobile, and consumer electronics industries; Directors and workers that are skilled, experienced, talented, and energetic run the company and give product guidance, service, and training; It has more than 34,300 full-time permanent employees and an additional 2,500 full-time temporary workers and independent contractors with similar rights. It had 273 retail shops in total, including 56 in the overseas market; Apple sells iPhone in more than 80 countries, with plans to distribute the product globally. In 2009, its net sales were $ 36,537 million, up to $ 19,315 million in 2006; in 2006, PCs were significantly easier to use due to technology advancements. The audit method adheres to PCAOB2 requirements, and the audit encompasses the company's performance strategy, risk management system, external and internal control, fiscal condition, and the company's ability to produce a successful report.

Weakness

The financial health of vendors; Due to the credit crisis, the US has lost a great deal of confidence and adopted a weak currency for international trade, which has weakened Apple's export market share. In the United States market, companies such as Dell, Hewlett-Packard, IBM, and Compaq had established strong sales that Apple would need to replicate, such as a decrease in demand for Apple's hardware products.

Opportunities

Though it raises prices on goods and services in markets outside of the United States, demand for its products is increasing; joint ventures, mergers, and acquisitions with renowned companies allow it to rapidly expand its business. For example, Apple and IBM formed a joint venture called Taligent with the aim of developing a revolutionary new operating system. Apple has the financial resources to develop their operations outside the United States.

Threats

In 1981, when IBM entered the personal computer (PC) industry, for instance, this company's competitive position shifted drastically. Some beneficial moves taken by competitors, such as joint ventures, mergers, and acquisitions, may result in enormous losses. escalating claims of intellectual property; As Apple's operating system is dependent on the success of distributors, employees, and other merchants, the company's future is in jeopardy. However, due to the global financial crisis, many resellers operate with low operating margins.

The Ansoff Matrix

Ansoff matrix is a tool that facilitates the identification of a product's growth through market penetration, market development, product development, or diversification (Manton 2008). The Ansoff matrix can appear as:

Grid depicting product/market expansion

Market Penetration: According to Kotler and Keller (2006), this business strategy aims to expand sales volume in the present market by attracting clients. They noted that in order to implement the plan, the company must understand the success characteristics of the existing product and the existing market. Apple can follow this strategy because it has many products currently on the market. There are several related strategies, such as exploiting irregular users to convert them into regular users and attacking competitors' consumers to convert them into the organization's consumers, but the exploitation of existing relationships with consumers is the most effective way to reach the ultimate objective.

Market Development: According to Kotler and Keller (2006), businesses use this technique to introduce their existing products to new markets or market groups. Apple may employ this technique to spread its existing products outside of the United States, but it must first identify a comparable market.

Product Development: It is normal for Apple to provide new products to current markets in order to increase its commercial profit. For instance, in 2006, Apple used product development to recover from a near-bankruptcy by introducing the iPod.

Diversification: It is uncommon for Apple to employ this diversification strategy, as new goods in new markets may increase risk, despite the fact that there are market prospects for brand awareness and sufficient investment capital to capitalize on these chances.

Steve Jobs' contribution to the resolution of Apple's long-standing issues.

Steve Jobs, according to Yoffie & Slind (2007, p. 5), took swift action to solve Apple's long-standing problems. For instance, in 1997, he announced that Microsoft had agreed to invest $150 million in Apple to develop core products such as Microsoft Office, and then he abruptly ended the Macintosh licensing program. He planned for Apple to spend $110 million to acquire the assets of the leading clone manufacturer, Power computing, including its Mac OS license. However, his first real coup was the launch of the iMac, and in 1998, he halted the production of the Newton and portable PC for education because they were losing projects. Yoffie & Slind (2007, p. 5) stated that Jobs brought the business around and then established it on a path of aggressive innovation, but he did so mostly due to his own strong leadership. Yoffie & Slind (2007, p. 5) stated that Jobs remained at the center of all decision-making in product development, strategy, and other crucial areas, and they concluded that Apple's ability to maintain its innovative edge if and when Jobs left the business remained an unresolved question.

What effect has the iPod had on the success of Apple?

Ana (2005) noted that the i-pod represents a turning point and economic recovery path for Apple Inc. This little portable digital media player was announced by Apple in October 2001, and it has been a phenomenal success in terms of customer satisfaction and sales globally. Ipod also spawned a new class of Apple's rivals, including mobile phone manufacturers and marketers such as Sony, Nokia, Samsung, and Google phone, which placed ipod in the following market position:

Now i-Pod has created enormous value for mobile phone users by providing software that is difficult to replicate. Even though competitors are working to develop similar products, i-Pod has maintained its success by positioning itself ahead of the competition and releasing a constant stream of new features.

According to Zaky (2009), Apple's iPod revenue climbed by 75% in 2006, while Apple's overall income grew by 38%. In the fiscal years 2006-2007 and 2007-2008, Apple's total revenue climbed 75%, while i-contribution Pod's was smaller. In the third quarter of 2009, i-contribution Pod's was 14.2%, while i-contribution phone's was greater.

Apple's I-pod is influencing MP3 player sales by capturing 65 percent of the market. Apple is also making continual efforts to add new functions to the i-Pod, particularly phone calls, e-mail, and web browsing, and the i-Pod has captured 29% of the flash memory market with its enormous storage capacity. With 22 million devices sold during the third quarter of 2009, the i-Pod has become the most popular audio player. This success of the i-Pod has produced enormous income for Apple and shown the route to economic recovery.

Recommendation

The historical data indicates that joint ventures with competitors have increased the company's net sales, therefore it should continue to pursue this approach in the future. Numerous large companies have failed as a result of the global financial crisis and noncompliance with government rules and regulations; therefore, the company should focus more on its audit process for external and internal control, despite the fact that its audit provides a reasonable basis for its opinion. Apple should consider transacting in the international market using a strong and stable currency, such as the Euro, to mitigate the negative impact of the U.S. dollar's decline in value owing to the credit crisis. It necessitates the linkage of all financial functions for enhanced visibility and control over financing activities; Apple should continue to spend in programs designed to increase reseller sales, such as staffing chosen resellers' storefronts with Apple employees and enhancing product placement displays. It should raise its budget for promotional initiatives and come up with novel concepts, such as a framework for achieving rapid progress in other areas, such as networking, consumer electronics, storage, etc. Apple's 2009 annual report suggested that in order to remain competitive, the company should increase its investment in R&D and marketing and advertising to maintain or improve its position in the markets in which it competes; By calculating business risk, Apple can identify the uncertainty inherent in the firm's Return on investment capital, so it should precisely measure the long-term and short-term risk factors, liabilities, trade credit, and accrued liabilities.

Conclusion

The outcome of this strategic analysis is contingent on the implementation of the selected strategies and would be measured by the rise in market share and revenue generation. Under the current economic downturn, with the intense pressure of competitors and other external forces, if the sales volume indicates any growth, this should reflect the effectiveness of the adopted plan. The concerns found in this analysis would promote the rudiments of attaining a considerable competitive advantage and urge that Apple's internal strengths and limitations should be used for future research and development.

Reference

Ana, S. (2005) Apple introduces a low-cost computer and capitalizes on iPod's popularity. Online High Beam Research. Web.

Apple Corp. (2009) Apple Inc. annual report for 2009: Form 10-K. Web.

Apple Inc. (2006) Form 10-K Annual report for 2006.

Boykin, R., Fiorini, A., Tanaka, L., and Webb, M. (2008). Apple Inc. Case Study# 1: iPhone. Web.

Kotler, P., and Keller, K. L., 2006. Marketing management, 12th edition, Pearson Prentice Hall, New Jersey.

Yoffie, D., and M. Slind. Apple Computer, 2006. Harvard Business School, HBS No. 9-706-496, 2007.

iPod Sales Only Account for 14.2% of Apple's Q4 Total Revenue, Zaky, A. 2009. Web.

Appendix

Footnotes

1 – Small And Mid-Sized Business

2 – Public Company Accounting Oversight Board (United States)

[supanova question]

Bayer Group’s Marketing Methodology Analysis Essay Help Writing

Abstract

Founded in 1863 and headquartered in Leverkusen, Germany, Bayer group is a well-known pharmaceutical and Life Science corporation. The company has successfully operated in numerous international regions, including the United States, Europe, and Asia. Agricultural science, veterinary studies, and healthcare items are the company's major business operations. The company has operated for more than 150 years, and its current position is incredibly solid. Their success has always been directly and indirectly tied to the enthusiasm of the researchers and the company's innovative strength. It is also well positioned internationally, since its 392 consolidated companies distribute in 87 nations worldwide (Bayer, 2020). In 2020, Bayer Group joined the list of thirty pharmaceutical businesses distinguished by their extensive developments and inventions (Idea Pharma, 2020). Furthermore, this strategy has led to the company's USD 48.02 billion in revenue, making it the fourth-largest pharmaceutical corporation in the world (BizVibe, 2020). Bayer remains one of the most successful companies in its industry in the twenty-first century.

Unbelievably, the corporation is also investing much in marketing initiatives to successfully reach customers and potential competitors. Without a doubt, these marketing activities cannot be accomplished until all 110,838 workers are aware of the business goal and the value they wish to give, along with an integrated marketing strategy that includes the deployment of marketing programs and processes. The goal of this research is to analyze the Bayer Group's present position in delivering value to its clients based on an analysis of its current condition and its marketing methodology based on a holistic marketing strategy. In addition, there is an evaluation of the level of integration between its activities and, more crucially, what may be implemented to exploit its skills inside its operations and ensure effective value delivery across global markets.

Holistic Advertising and the Bayer Case

A corporation may be termed a holistic marketing organization if its marketing operations include all stakeholders and components that directly or indirectly affect the business. The factors in question can be both internal and external, taking the form of employees, suppliers, stakeholders, customers, or the environment. Moreover, these components serve as the foundation for all marketing decisions.

As is evident in the example of Bayer Group, it is more effective when all of an organization's resources are going in the same direction toward a single aim. Regarding holistic marketing as a whole, there are four distinct advertising components: relational, integrated, internal, and societal (Kotler & Keller, 2016). According to Kotler and Keller (2016), the execution of a holistic marketing strategy begins with the establishment of strong internal relationships at all organizational levels. Internal, Integrated, Relationship, and Performance types of marketing components are distinguished in terms of holistic marketing. Based on the following study, Bayer is an excellent example of a corporation that employs the aforementioned strategy.

Internal Marketing

This component is dependent on internal procedures that ensure employee satisfaction. A company's ability to achieve its long- and short-term objectives depends on the level of pleasure of its customers. According to Kotler and Keller (2016), the objective of internal marketing is to ensure that staff are prepared to give the value that customers require. Therefore, internal marketing consists of recruiting, training, and motivating staff to increase customer service quality.

As stated previously, the Bayer Group exhibits cutting-edge innovations in healthcare, agriculture, and nutrition. The corporation has implemented the Bayer Societal Engagement Principles (BASE) to meet the needs of its consumers. The claimed purpose of the principles is "science for a better life," where "life" is an abbreviation for leadership, integrity, adaptability, and efficacy (Bayer, 2020). These ideals are quite distinctive, and not all organizations have adopted them. They enable greater employee retention and loyalty, resulting in an improvement of operations as a whole.

In addition, the organization has won multiple honors for its healthy work environment. Bayer has been recognized as the leader in diversity and inclusion, as well as gender equality (Bayer, 2020). The rankings were based on the percentage of women in management, wage equality, corporate culture, and anti-sexual harassment measures. Additionally, the organization has garnered a number of accolades for scientific research, personnel development, and inventions (Bayer, 2020). These awards show a healthy and motivating corporate climate, which is essential for long-term growth, credibility, and a happy work environment.

Combined Marketing

The subsequent part of holistic marketing includes items, delivery channels, and corresponding communication. The concept advises transitioning from single marketing initiatives to a comprehensive program that consolidates them. This element's purpose is to create, communicate, and produce consumer value while ensuring marketing operations are coordinated. It has been accomplished by Bayer Group, whose direction encompasses customers, suppliers, inventors, and even governments (Bayer, 2020). The method of communication is particularly efficient since it relies on direct and indirect communication and eliminates superfluous information. By utilizing campaigns and being upfront with their clients, partners, and all other key stakeholders, Bayer assures high levels of involvement, which leads to effective marketing and product development.

Relationship Promotion

This aspect focuses on developing connections and relationships with all business-related parties, including consumers, partners, government authorities, and competitors. In general, relationship marketing involves maintaining relationships with those who can affect the success of the business. The current business climate mandates that the level of connection between companies and clients must extend beyond the act of selling. To keep the brand identifiable, it is essential to develop and maintain a continual connection. This objective requires strong consumer-manufacturer relationships. In addition, relationship marketing implies that these relationships should be strengthened over time. Bayer Group has a global network of research and development in which almost 15,000 individuals work on global healthcare concerns (Bayer, 2020). According to Kotler and Keller (2016), marketing connections are characterized by the values that a firm seeks to convey to its customers. Positive and enduring relationships play a crucial role in the corporate activities of the present day.

Effective Marketing

This category is not restricted by the quantity of product purchasers or sales figures. The word incorporates society in general, as well as how the company's products effect society. When company actions are suggested and implemented, legislation, ethics, and the social landscape must be taken into account, according to performance marketing. According to Bayer Group's (2019) sustainability report, the company employs a cutting-edge approach that enables it to address key contemporary challenges and assure a good social impact. Sustainability for Bayer extends beyond risk mitigation, as the company aspires to share global progress with the populace while respecting the environment and the planet. This strategy is essential in the contemporary environment because it encourages sustainable growth on all levels.

Long-Term Factors Affecting Bayer Group

There will always be a variable that could have an effect on a company's standing if it operates well both domestically and internationally. This is a particularly timely argument, as there is an ongoing demand for innovative and technologically improved items. The list of relevant aspects may include three broad categories: economic, political, and social. These factors must be taken into account by any large organization, as they may have a significant impact on the firm, both positively and adversely.

Economic Aspects

In recent years, Bayer group has engaged in a number of mergers and acquisitions, maintaining its long history of substantial mergers and sales. Through extra internal research and development, the company was able to offer a full range of products as a result of these actions. The majority of Bayer's activities are financed by the sale of assets and shares, as well as bank loans and sales revenue. Simultaneously, the chemical and pharmaceutical industries of such large markets as the United States and the United Kingdom have expanded tremendously.

Political Aspects

Bayer's continual adaptation of political characteristics in other nations may have grave consequences. The variety of potential challenges includes variances in legislation and standards, which is why changing products initially designed to the needs of a different market incurs additional operating expenses. There will always be a need to develop a strategic plan for a huge corporation like Bayer, which operates in 87 markets worldwide. It encompasses not only marketing activities but also all company tasks.

Bayer Group adheres to specific criteria on legal aspect regulation. It is important to the corporation to combat corruption, and its Code of Conduct for Responsible Lobbying limits its participation in political processes (Bayer, 2020). In addition, the corporation participates in transparency programs sponsored by numerous European Union and American authorities. This attitude to political concerns and corruption enhances the company's reputation and enhances its image.

Social Aspects

Bayer has an incredibly significant impact on corporate social responsibility and research and development-related operations. This role has lately become apparent in the context of the global pandemic known as COVID-19. Bayer established a crop-relief program for two million farmers affected by the epidemic as part of the company's response to the force majeure. In addition, the corporation invests significant resources in research and development to create the necessary goods to reduce the effects of this calamity. According to their study, the company is contributing to the global fight against the coronavirus through their products and healthcare knowledge (Bayer, 2020). Regarding healthcare, Bayer has also increased the essential health-related output in these challenging circumstances. Therefore, Bayer highlights the necessity of quality healthcare in the 21st century, which is a distinguishing characteristic of the social policy of every sustainable business.

The above-mentioned three groups of factors should be considered by all large multinational corporations, particularly those in the pharmaceutical industry, as they encourage sustainable growth and development. It is essential to safeguard the business against potential legal and social ramifications that could result in severe financial and reputational damage. A corporation that has spent the past 150 years cultivating its reputation cannot afford to suffer such losses.

Marketing strategy at the product level

Bayer Group offers a variety of high-quality items, including some that have molded the brand as it is known today. Bepanthen is a 1944-introduced product that has been marketed by Bayer Group since 2005. (Bepanthen, 2020). It is well-known as a cream created for various uses, such as treating rashes and burns. Although this product is extraordinarily profitable and has had a global impact on families, there is still uncertainty in social media and blogs on the product's various varieties. Effective marketing efforts and raising awareness of the benefits and functions of the product can be used to address this issue.

Strategic Marketing Campaign for the product comprises incorporating consumer feedback and directing the product's many sorts and effects. It is essential to deliver this information through the proper channels, as advertising should target the intended population. Presented are the results of marketing research (Figure 1). In addition, holistic marketing is applied to this product's campaign by utilizing several social groups for a specific product type.

Figure 1 Marketing for Bepanthen

According to the results of the study, Bayer Group might refocus its marketing efforts for this product on more contemporary strategies employing social media as the conduit to its consumers. It may also be beneficial to cooperate with influencers to showcase the benefits of the product. Influencers are online celebrities who are compensated for endorsing things. Typically, modern corporations maximize earnings by cooperating with influencers. Some businesses even utilize the services of "micro-influencers" with a tiny following. Overall, social media presence is a crucial aspect of 21st-century marketing, and its significance cannot be ignored.

Organizational Level Recommendations

Depending on the probable issues that Bayer Group may encounter over the next five years, a variety of activities may be offered. The company's competitors may demonstrate a breakthrough in marketing innovations first. As the degree of competition increases, all market participants must continue to develop novel tactics and try to enhance the firm as a whole. According to Sappin (2016), three-quarters of company executives acknowledge the importance of innovation in the success and even survival of modern businesses. Bayer Group is an excellent example of a corporation that has effectively adopted a comprehensive marketing strategy, beginning at the corporate level and extending to its customers and other important stakeholders. It is recommended that the corporation continue working in this direction and maximize the use of its vast resources.

A second useful method would be to raise research and development expenditures. This is one of Bayer's greatest advantages, as the company's dedication to research has made it a global leader in pharmaceuticals. The organization is able to expand its capabilities in terms of giving the greatest value to customers as a result of its study. It is a crucial component of sustainable growth, as research and development methods unify several sectors to identify efficient answers to present and future problems. When conducted and performed appropriately, research and development raise the company's quality and revenue while reducing costs.

Thirdly, the organization should strive to implement cutting-edge technologies, such as artificial intelligence. The new technology offers numerous options for enhancing the quality of the sphere. A novel pharmaceutical can be produced and tested in less time, allowing for a rapid transition from development to use and profit. The business of the 21st century should become proactive rather than reactive. Concurrently, the corporation must be shielded from potential legal ramifications resulting from contemporary obstacles. It is essential to follow the evolution of laws in all markets where the organization operates. Before releasing new products and advertising in a certain region, it is vital to conduct research because laws and regulations may vary from market to market.

Human resources have become the most important and valued component of modern company infrastructures. It may be tricky to gather individuals of diverse origins and histories within a single company, and it is even more difficult to convince them to collaborate toward a shared purpose. However, businesses such as Bayer focus on enhancing the workplace atmosphere by making it more inclusive and welcoming. According to the results, this strategy is advantageous for all parties concerned, including employees, consumers, and the organization as a whole.

Bibliography

Bayer (2020). The commitment of Bayer during the coronavirus pandemic. Web.

2019 Bayer Sustainability report Web.

Top 10 Largest Pharmaceutical Companies by Revenue 2020, Pharmaceutical Industry Factsheet, BizVibe, 2020. BizVibe. Web.

Idea Pharma (2020) These pharmaceutical firms are the foremost innovators and inventors. Fortune, Web.

Kotler, P., and Keller, K. (2016). The 15th edition of Marketing Management. The publisher in London is Pearson.

Sappin, E. (2016). "Six Ways to Leverage Global Innovation for Business Growth," Entrepreneur.com.

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Arsenal Holdings Plc Financial Appraisal Essay Help Writing

Introduction

Arsenal Holdings Plc operates a professional football club and engages in related business activities. After relocating to Emirates Stadium, the firm has engaged in a number of real estate development projects (Google Finance, 2009). The Company, which was created in 1886, operates the football club known as The Gunners, which is one of the best teams in the English Premier League. The club has won thirteen First Division and Premier League crowns and ten FA Cups (Yahoo! Finance, 2008). Arsenal owns the team's home stadium, Emirates Stadium. From the Emirates Stadium, the firm conducts its retail operations and commercial operations. The majority of the company's revenue comes from ticket sales and broadcasting fees. Arsenal is a privately held public corporation that is not publicly traded on the Stock Exchange.

This study provides an examination of the management and performance of Arsenal Holdings Plc based on the information presented in the company's 2008 annual report, which details the income and expenses for the 2007/08 season. The analysis will also consider the information given in the annual Deloitte Football Money League publication on the world's 20 richest football clubs.

Fan Base

Arsenal retains a big and devoted fan following, as all home matches are sold out. With 60,070 fans attending a match in 2007-08, which was 99.5% of the allocated capacity, Arsenal is pleased to have the second highest League attendance among English clubs. Arsenal has links with a number of clubs in the United Kingdom and internationally. As of 2007, Arsenal had 24 British, 37 Irish, and 49 international clubs linked with it, thereby expanding its supporter base (Arsenal.com, 2007). In 2005, Granada Ventures conducted a survey that projected the overall number of fans to reach 27 million. According to Deloitte's annual publication, the club has a waiting list of approximately 50,000 supporters for season tickets.

Building – Emirates Stadium

The club's home stadium, Emirates Stadium, was officially inaugurated in October 2006. The Stadium was built on an area of 17 acres to accommodate approximately 60,000 spectators. In one season, it is anticipated that 1,140,000 fans will watch Premier League matches at the Stadium. The total cost of the Stadium's construction was £ 390 million. Arsenal has placed all of its retail outlets within the Emirates Stadium and conducts all of its business operations from the stadium (Arsenal.com, 2009).

Revenue Sources

Over the years, Arsenal has steadily increased its revenue. According to the Deloitte Football Money League, the corporation ranks sixth among the top twenty richest teams in terms of income. According to Deloitte, the club has earned a total of GBP 209.3 million (Euro 264.4 million) compared to the Real Madrid Club's Euro 365.8 million, which places it in first place.

Match day, Broadcasting, and Commercial are the principal revenue streams. Match day income consist of gate receipts collected on match days in addition to season tickets and memberships. Broadcasting revenues represent the revenue generated from the sale of domestic and international broadcasting rights for matches. Commercial revenues consist of sponsorship and other item sales, such as T-shirts. As the number reveals, 45 percent of Arsenal's overall revenue comes from match day revenues, indicating a significant fan base.

As stated by the Deloitte Football Money League, these are the year-by-year earnings of the company during the past decade.

Note: The five-year income has been rounded to the closest Euro.

Arsenal's revenue surpassed £ 200 million for the first time in 2007/08, with a £ 30.7 million (18%) increase to £ 207.7 million, discounting £ 15.3 million in non-core football operations related to property development. Profit before taxes and unusual items increased to £ 39.7 million in 2008 from £ 20.8 million in 2007. (Arsenal.com, 2008, p 10).

Matchday Revenues

Arsenal's matchday income account for 45 percent (£ 94.6 million) of its total revenues. This has increased from £ 90,6 million in 2007 and continues to be the club's most important revenue source. The second season at Emirates Stadium, which saw an average of 60,100 sold-out matches, has helped the team achieve the highest matchday revenues. The proposed minor increases in ticket prices would assist the team in maintaining matchday revenues for 2008-2009. With an estimated waiting list of 50,000 supporters, future earnings under this heading should increase.

Broadcast Income

The club's broadcasting revenues rose from £ 44.3 million in 2007 to £ 68.4 million in 2008, constituting a significant contributor to its increasing revenue. The rise was due to the new domestic and international Premier League television deals. According to Deloitte, new Premier League broadcasting agreements and a third-place finish led in an increase of £ 18.1 million, bringing the total central distribution to £ 47 million. The club's performance in reaching the semi-finals of the Carling Cup and the quarter-finals of the UEFA Champions League has enabled it to maximize earnings from TV arrangements in League fixtures. The UEFA Champions League encounter may earn Arsenal an additional £ 18.4 million.

Commercial Income

Comparing 2008 to the previous year, the commercial revenue increased only somewhat. In 2008, the commercial revenue climbed by £ 2.7 million, reaching £ 44.3 million. Long-term Stadium naming rights through 2020-2021 and jersey sponsorship deals with Emirates through 2013-2014 were the primary revenue producers under this heading. These transactions total £90 million. In 2008, these sources contributed £13.1 million in revenue, and the products included new second and third choice Nike uniforms. However, Arsenal's 2008 commercial revenue is 17 million pounds less than Chelsea's and 19.7 million pounds less than Manchester United's (Deloitte, 2009).

Costs

The most essential aspect of a football club's expenses are the salaries paid to its players. The efficiency of the club can be determined by comparing its operational expenses to its overall revenue. Deloitte has shown that a salary ratio of 55 to 70 percent of total income is optimal for an effective club. In comparison to this percentage, Arsenal's salary costs are merely 48.8% of revenue (£ 101,3 million) as opposed to £ 89.7 million (2007 – 50.6% of revenue). The improvement and extension of important players as well as the implementation of superior management contracts have helped the club achieve efficient salary expense control (Deloitte, 2009).

Profitability

In 2008, the club's profitability experienced a substantial increase. Increased matchday and commercial revenues have led to a £ 59.6 million operational profit before depreciation and player trading. This level of operating profit represents a 41.2% increase over the previous year's profit of £ 42.2 million. The club's profitability has grown as a result of tighter control over player salaries and the development of Emirates Stadium, which has resulted in an increase in revenue. Profitability has increased as a result of the sale of player registrations, which generated a gain of £ 26.4 million, bringing the profit before tax to £ 39.7 million (2007-2008). (0.54million).

Income Statement and Cash Flow

The football division balances are displayed under intangible fixed assets. The cost of player registration and the annual amortization of player registration charges comprise the net book value of player registration. The net book value as of May 31, 2008 was £55.6 million, compared to £64.6 million at the end of 2007. However, this value does not reflect the actual market value of the players, and the directors are of the opinion that the value of the intangible fixed assets with respect to the cost of the players would be much higher than the book value (Arsenal.com, 2008, p 41).

The football section of Arsenal contributed £ 4.0 million in net operating cash flow to the group's total net cash inflow of £ 19.4 million in 2008, as proceeds from the sale of players exceeded payments. In 2008, the club earned 32 million pounds in exchange for 28 million pounds given out. In 2007, there was a net financial outflow of £ 8 million due to excess payments on player purchases (Arsenal.com, 2008, p 51).

Conclusion

The club has achieved a solid financial position thanks to the club's better Premier League and Champions League results, as well as its continued increase in commercial revenue. Combined with this, a continuously filled Emirates Stadium is anticipated to be the primary drivers of future revenue growth for the club. This may result in a change in the club's position inside Deloitte's top twenty list. However, the economic downturn and a boardroom power struggle caused Arsenal, a company with an enviable financial model, to accumulate more debt in 2008. This is also a result of the company's real estate deals.

References

Arsenal.com, 2007. Fans Report 2006.

Website of Arsenal.com's 2008 Annual Report

Arsenal.com, 2009. Emirates Stadium.

Deloitte, 2009. Lost in Translation: Football Money League. Internet.

GoogleFinance, 2009. The Arsenal Holdings PLC corporation.

2008 Yahoo!Finance The Company Profile of Arsenal Holdings Plc.

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Arsenal Holdings Plc Financial Appraisal Essay Help Writing

Introduction

Arsenal Holdings Plc operates a professional football club and engages in related business activities. After relocating to Emirates Stadium, the firm has engaged in a number of real estate development projects (Google Finance, 2009). The Company, which was created in 1886, operates the football club known as The Gunners, which is one of the best teams in the English Premier League. The club has won thirteen First Division and Premier League crowns and ten FA Cups (Yahoo! Finance, 2008). Arsenal owns the team's home stadium, Emirates Stadium. From the Emirates Stadium, the firm conducts its retail operations and commercial operations. The majority of the company's revenue comes from ticket sales and broadcasting fees. Arsenal is a privately held public corporation that is not publicly traded on the Stock Exchange.

This study provides an examination of the management and performance of Arsenal Holdings Plc based on the information presented in the company's 2008 annual report, which details the income and expenses for the 2007/08 season. The analysis will also consider the information given in the annual Deloitte Football Money League publication on the world's 20 richest football clubs.

Fan Base

Arsenal retains a big and devoted fan following, as all home matches are sold out. With 60,070 fans attending a match in 2007-08, which was 99.5% of the allocated capacity, Arsenal is pleased to have the second highest League attendance among English clubs. Arsenal has links with a number of clubs in the United Kingdom and internationally. As of 2007, Arsenal had 24 British, 37 Irish, and 49 international clubs linked with it, thereby expanding its supporter base (Arsenal.com, 2007). In 2005, Granada Ventures conducted a survey that projected the overall number of fans to reach 27 million. According to Deloitte's annual publication, the club has a waiting list of approximately 50,000 supporters for season tickets.

Building – Emirates Stadium

The club's home stadium, Emirates Stadium, was officially inaugurated in October 2006. The Stadium was built on an area of 17 acres to accommodate approximately 60,000 spectators. In one season, it is anticipated that 1,140,000 fans will watch Premier League matches at the Stadium. The total cost of the Stadium's construction was £ 390 million. Arsenal has placed all of its retail outlets within the Emirates Stadium and conducts all of its business operations from the stadium (Arsenal.com, 2009).

Revenue Sources

Over the years, Arsenal has steadily increased its revenue. According to the Deloitte Football Money League, the corporation ranks sixth among the top twenty richest teams in terms of income. According to Deloitte, the club has earned a total of GBP 209.3 million (Euro 264.4 million) compared to the Real Madrid Club's Euro 365.8 million, which places it in first place.

Match day, Broadcasting, and Commercial are the principal revenue streams. Match day income consist of gate receipts collected on match days in addition to season tickets and memberships. Broadcasting revenues represent the revenue generated from the sale of domestic and international broadcasting rights for matches. Commercial revenues consist of sponsorship and other item sales, such as T-shirts. As the number reveals, 45 percent of Arsenal's overall revenue comes from match day revenues, indicating a significant fan base.

As stated by the Deloitte Football Money League, these are the year-by-year earnings of the company during the past decade.

Note: The five-year income has been rounded to the closest Euro.

Arsenal's revenue surpassed £ 200 million for the first time in 2007/08, with a £ 30.7 million (18%) increase to £ 207.7 million, discounting £ 15.3 million in non-core football operations related to property development. Profit before taxes and unusual items increased to £ 39.7 million in 2008 from £ 20.8 million in 2007. (Arsenal.com, 2008, p 10).

Matchday Revenues

Arsenal's matchday income account for 45 percent (£ 94.6 million) of its total revenues. This has increased from £ 90,6 million in 2007 and continues to be the club's most important revenue source. The second season at Emirates Stadium, which saw an average of 60,100 sold-out matches, has helped the team achieve the highest matchday revenues. The proposed minor increases in ticket prices would assist the team in maintaining matchday revenues for 2008-2009. With an estimated waiting list of 50,000 supporters, future earnings under this heading should increase.

Broadcast Income

The club's broadcasting revenues rose from £ 44.3 million in 2007 to £ 68.4 million in 2008, constituting a significant contributor to its increasing revenue. The rise was due to the new domestic and international Premier League television deals. According to Deloitte, new Premier League broadcasting agreements and a third-place finish led in an increase of £ 18.1 million, bringing the total central distribution to £ 47 million. The club's performance in reaching the semi-finals of the Carling Cup and the quarter-finals of the UEFA Champions League has enabled it to maximize earnings from TV arrangements in League fixtures. The UEFA Champions League encounter may earn Arsenal an additional £ 18.4 million.

Commercial Income

Comparing 2008 to the previous year, the commercial revenue increased only somewhat. In 2008, the commercial revenue climbed by £ 2.7 million, reaching £ 44.3 million. Long-term Stadium naming rights through 2020-2021 and jersey sponsorship deals with Emirates through 2013-2014 were the primary revenue producers under this heading. These transactions total £90 million. In 2008, these sources contributed £13.1 million in revenue, and the products included new second and third choice Nike uniforms. However, Arsenal's 2008 commercial revenue is 17 million pounds less than Chelsea's and 19.7 million pounds less than Manchester United's (Deloitte, 2009).

Costs

The most essential aspect of a football club's expenses are the salaries paid to its players. The efficiency of the club can be determined by comparing its operational expenses to its overall revenue. Deloitte has shown that a salary ratio of 55 to 70 percent of total income is optimal for an effective club. In comparison to this percentage, Arsenal's salary costs are merely 48.8% of revenue (£ 101,3 million) as opposed to £ 89.7 million (2007 – 50.6% of revenue). The improvement and extension of important players as well as the implementation of superior management contracts have helped the club achieve efficient salary expense control (Deloitte, 2009).

Profitability

In 2008, the club's profitability experienced a substantial increase. Increased matchday and commercial revenues have led to a £ 59.6 million operational profit before depreciation and player trading. This level of operating profit represents a 41.2% increase over the previous year's profit of £ 42.2 million. The club's profitability has grown as a result of tighter control over player salaries and the development of Emirates Stadium, which has resulted in an increase in revenue. Profitability has increased as a result of the sale of player registrations, which generated a gain of £ 26.4 million, bringing the profit before tax to £ 39.7 million (2007-2008). (0.54million).

Income Statement and Cash Flow

The football division balances are displayed under intangible fixed assets. The cost of player registration and the annual amortization of player registration charges comprise the net book value of player registration. The net book value as of May 31, 2008 was £55.6 million, compared to £64.6 million at the end of 2007. However, this value does not reflect the actual market value of the players, and the directors are of the opinion that the value of the intangible fixed assets with respect to the cost of the players would be much higher than the book value (Arsenal.com, 2008, p 41).

The football section of Arsenal contributed £ 4.0 million in net operating cash flow to the group's total net cash inflow of £ 19.4 million in 2008, as proceeds from the sale of players exceeded payments. In 2008, the club earned 32 million pounds in exchange for 28 million pounds given out. In 2007, there was a net financial outflow of £ 8 million due to excess payments on player purchases (Arsenal.com, 2008, p 51).

Conclusion

The club has achieved a solid financial position thanks to the club's better Premier League and Champions League results, as well as its continued increase in commercial revenue. Combined with this, a continuously filled Emirates Stadium is anticipated to be the primary drivers of future revenue growth for the club. This may result in a change in the club's position inside Deloitte's top twenty list. However, the economic downturn and a boardroom power struggle caused Arsenal, a company with an enviable financial model, to accumulate more debt in 2008. This is also a result of the company's real estate deals.

References

Arsenal.com, 2007. Fans Report 2006.

Website of Arsenal.com's 2008 Annual Report

Arsenal.com, 2009. Emirates Stadium.

Deloitte, 2009. Lost in Translation: Football Money League. Internet.

GoogleFinance, 2009. The Arsenal Holdings PLC corporation.

2008 Yahoo!Finance The Company Profile of Arsenal Holdings Plc.

[supanova question]

Volkswagen: Strategic Management And Human Resource Practices Essay Help Writing

Introduction Business Description

Volkswagen (VW) AG, a world-renowned multinational vehicle manufacturer, has been picked.

Headquarters

Volkswagen Group's headquarters are located in Wolfsburg, Germany. These headquarters are responsible for the strategic direction of twelve brands, including Volkswagen Passenger Cars, Audi, SEAT, KODA, Bentley, Bugatti, Lamborghini, Porsche, Ducati, Volkswagen Commercial Vehicles, Scania, and MAN (VW AG, 2020). While VW Group's strategic executives are headquartered in Germany, each brand's headquarters are located in one of seven European nations.

Employee count and regional presence

Volkswagen Group had 671.2 thousand employees at the end of 2019. (VW AG, 2020). In comparison to 2018, the number of employees has climbed by over 7,000. (VW AG, 2020). The company is present on most worldwide marketplaces (VW AG, 2020). It has 123 automobile assembly plants, 71 of which are in Europe, 34 in Asia, 4 in Africa, 5 in North America, and 9 in South America (VW AG, 2020).

Strategic ambition

Volkswagen Group's corporate strategy is framed by the idea TOGETHER 2025, which strives to secure the future through five components (VW AG, 2020):

Best Governance: an emphasis on constructing a comprehensive corporate structure in order to boost brand management and strategic decision-making. A concentration on enhancing efficiency, production, and profitability. Best Brand Equity: a concentration on maximizing the profile and mission of each brand in order to enhance their market performance. Software-enabled Car Company: an emphasis on creating innovative and cutting-edge software to improve the comfort, safety, and fuel economy of automobiles. Focus on partnership-based, value-driven, and transparent leadership.

The corporation anticipates achieving these goals by moving its focus to the development of electric vehicles. Bullard (2019) reports that while the whole market for passenger cars was behind at 3.5 million sales per month in 2019, EV sales were progressively increasing from 125,000 to 162,000 per month. VW AG intends to dominate the market for electric vehicles in the foreseeable future by making substantial expenditures in R&D and constructing new facilities (VW AG, 2020). The company's primary objective is to improve its performance on the Chinese market through partnerships with local manufacturers and the establishment of new operations in China (VW AG, 2020).

Vision

Mission of the company is to provide sustainable mobility for present and future generations (VW AG, 2020).

Mission

To become the best employer, to thrill customers, and to be a model for environmental stewardship, safety, and morality (VW AG, 2020).

Principal functional areas

Volkswagen AG has two divisions: automotive production and financial services. VW Group Services handles all logistics, including logistics planning, material logistics, and automotive logistics (VW AG, 2020). The automobile manufacturing division develops and sells 12 brands of passenger cars, commercial vehicles, and power-generating devices (VW AG, 2020). Leasing, dealer and customer financing, and insurance are among the financial services (VW AG, 2020).

Key opponents

Ford, General Motors, Toyota, Hyundai, BMW, BYD, and Geely are Volkswagen Group's most renowned competitors.

Human Resources' purpose and function

The VW Group's human resource management is guided by the idea "Empower to transform." The framework is founded on the concept of a long-term collaboration with employees in order to protect their human capital and knowledge. In its human resource practices, the company prioritizes "corporate governance, comprehensive participation rights for employees, outstanding training opportunities, the principle of long-term service through systematic employee retention, and the aspiration to appropriately balance performance and compensation" (VW AG, 2020, p. 149).

Thus, it can be inferred that the HR department's primary objective is to ensure that the company has the best personnel available to meet its goals. The functions include hiring new staff to ensuring an influx of strong leaders and skilled specialists, training the personnel, adopting methods for employee retention, assessing current processes, and managing adjustments.

HR challenges

Concerning HR practices, the organization has a number of critical issues that must be handled. First, the organization needs highly qualified people to continue expansion over time. Currently, the organization employs a variety of strategies to ensure the essential influx of qualified personnel. The tactics include investing in the professional development of employees, vocational training for young men, enhancing employer appeal and development programs for specific target groups, as well as development for college graduates (VW AG, 2020).

Second, the organization must retain a high level of employee involvement in corporate decision-making processes (VW AG, 2020). This necessitates efficient communication methods and a sufficient organizational structure. In light of the latest pandemic scenario, Volkswagen announced over $1 billion in operating losses (Smith, 2020). Consequently, the organization faces the difficulty of retaining staff without incurring considerable financial costs. In order to handle the issue, the corporation must optimize its budget for human resources and develop non-financial ways to encourage its employees.

Purpose and Objectives Aim

The purpose of this study is to develop a complete plan for managing a change in the current HRM practices in order to contribute strategically to the establishment of a new branch office in China.

Objectives

To present a comprehensive review of the current research in order to determine which strategic HRM approaches contribute to organizational performance results. Determine if current HRM practices are aligned with organizational goals and objectives. To develop a change plan and give specific recommendations for improving the present situation based on a solid theoretical framework and analysis of current practices.

Significance and Contextual Relevance

Staffing is an integral component of HR strategies that requires careful planning and execution. Currently, VW Group hires employees through its website. The company's website varies by location, and visitors from different nations are immediately sent to the local page, which features regionally-specific employment opportunities.

Additionally, the organization utilizes specialist websites, such as Glassdoor and Indeed.com, to find qualified candidates. The organization offers a variety of employment, from plant operators to upper management. Volkswagen provides two graduate trainee programs for the growth of college grads (VW AG, 2020). These tactics facilitate the recruitment of qualified and devoted staff.

Volkswagen employees have access to a vast array of on-the-job training courses, ranging from personal growth to company-wide knowledge dissemination. The HR division also supports mentoring programs so that employees can gain knowledge from more seasoned coworkers (VW AG, 2020). Volkswagen also offers free technology awareness seminars to help employees keep up with the digital revolution (VW AG, 2020). The firm has developed VW Group Academy, which partners with external companies to facilitate online training for its employees (VW AG, 2020).

The salary at Volkswagen is comparable to that of other companies in the industry. In addition, the company offers comprehensive benefits, including all forms of insurance, a retirement plan, fitness programs, gym memberships, 401k matching, and performance-based bonuses. All employees have a set of KPIs to evaluate their performance.

Literature Review

The Impact of Recent Changes to HR Functions on Performance

HR management can be stated in basic terms as serving the needs of two important stakeholders. On the one hand, HR managers must guarantee that the organization has sufficient human capital to achieve its goals and objectives. On the other hand, HR departments must meet the needs of employees to guarantee their satisfaction and ability to carry out their responsibilities.

The ideal HR practice involves striking a balance between these two pressures in order to act accordingly. In general, HR functions include human flow management, performance management, motivation and retention, workforce planning, health and safety, etc. The roles of HR professionals are summarized in Figure 1.

HR functions are depicted in Figure 1 (Héder, Szabó, and Dajnoka, 2018).

Human resource management is governed by three fundamental tenets (Héder, Szabó, and Dajnoki, 2018):

Employees are the most valuable resource because they possess all of the company's expertise, and effective management of this resource is essential for attaining operational success. The alignment of HR practices with a company's mission and strategic objectives is highly connected with business performance. The importance of workplace culture, company values, and manager conduct in obtaining desirable performance cannot be overstated.

VW AG comprehends all essential functions and organizes HR processes flawlessly. Specifically, the organization recognizes the value of human capital and aggressively cultivates its staff. The HR management is tightly integrated with corporate objectives, as the organization recruits the most qualified candidates and provides training to achieve digitization. Lastly, the organization encourages a culture of safety, diversity, and trust in the workplace (VW AG, 2020).

Human resource management is significantly influenced by current developments. Specifically, digitization has a significant impact on HR procedures in all sorts of businesses. HR portals, web-based systems, and web-application testing have altered managers' current procedures. Particularly, digitalization is directly related to communication, scheduling, time efficiency, and staff engagement (Akshay and George, 2016).

Digitalization has facilitated HR processes by enabling managers to gain new tools to satisfy the requirements of all stakeholders (Akshay and George, 2016). However, the connections between cost and digitization remain obscure (Akshay and George, 2016). Therefore, businesses around the world must comprehend the impact of digitalization and employ its benefits while avoiding its drawbacks.

Volkswagen's Human Resources department embraced digitisation to maximize employee performance. To facilitate knowledge management, the organization built an online academy in collaboration with the leading producers of learning web applications (VW AG, 2020). Additionally, the corporation employs internet services, such as the website and HR portals, to recruit new personnel (VW AG, 2020).

Additionally, Volkswagen has improved communication with internal and external stakeholders by implementing corporate forums, chatrooms, virtual conference rooms, and project management tools (VW AG, 2020). In conclusion, VW AG recognizes the significance of digitization and leverages its benefits to generate enhanced results.

The pandemic of COVID-19 impacted current processes and posed substantial obstacles to the proper administration of human resources. According to Caligiuri et al. (2020), coronavirus exacerbated the physical and psychological barrier between employees, particularly within multinational corporations. In addition, the epidemic caused financial difficulties, which reduced HR resources (Smith, 2020).

When attempting to satisfy the needs of both employers and employees, HR managers face major obstacles. Particularly, "employee selection, training, support, health, and safety, as well as leadership and virtual collaboration" face considerable obstacles to efficiency (Caligiuri et al., 2020, p. 1). Consequently, HRM approaches have evolved in response to the challenge of managing distance inside enterprises. Online services have a stronger impact on managing uncertainty and remote collaborations (Caligiuri et al., 2020).

Volkswagen was one of the companies prepared to confront the issues related with remote human resource management. As noted earlier, the company recognized digitalization as one of its key objectives for the growth of HRM practices, so preparing itself for an increase in distance (VW AG, 2020). Despite the possibility of financial difficulties, the organization must continue to invest in the development of HR practices despite the pandemic's significant impact.

The Impact of Strategic HRM on Performance

Strategic HRM (SHRM) is establishing a link between HR practices and the organization's strategic goals and objectives (Boxall, 2018). SHRM is described by 22 known theories and conceptual frameworks, including the resource-based view, behavioral perspective, human capital theory, AMO framework, and social exchange theory (Jiang and Messersmith, 2018). Over the past two decades, there has been a rise in interest in the subject of SHRM.

In 2016, around 800 publications were published in academic journals regarding SHRM, compared to only 100 in 1996. (Jiang and Messersmith, 2018). Conventional HRM is currently undergoing a shift in the majority of enterprises, including those in emerging nations (Hussain, 2016). Therefore, strategic management knowledge is crucial for HR managers in all types of firms around the globe.

SHRM's primary objectives include the promotion of flexibility and creativity, the development of a meaningful workplace culture, the improvement of financial and operational performance, and the encouragement of innovation (Vanderstraeten, 2018). SHRM can only be advantageous if managers regularly consider how fundamental HR procedures, such as hiring, training, and compensation, contribute to the organization’s objectives (Vanderstraeten, 2018).

In other words, HR managers' day-to-day activities must be directed by the company's strategic objectives. This suggests that the HR department must collaborate regularly with other departments and higher management, as opposed to operating in isolation. The HR department's objectives and outcomes must assist other departments in achieving the harmonious growth of the entire firm (Boxall, 2018). Thus, SHRM practices offer the ability not only to assist other departments in achieving their objectives, but also to get assistance from them when necessary.

SHRM implementation has a profound effect on all parties involved. According to Jiang and Messersmith (2018), SHRM increases employee satisfaction. Second, SHRM is related with an enhanced company culture that promotes business values and facilitates the attainment of strategic goals (Jiang and Messersmith, 2018). Thirdly, SHRM indirectly influences customer happiness, which is essential for boosting sales (Vanderstraeten, 2018).

Fourthly, SHRM promotes enhanced resource management methods across all departments (Vanderstraeten, 2018). Fifth, it allows managers to take a proactive approach to hiring, training, and rewarding employees (Jiang and Messersmith, 2018). SHRM is also related with increased HR department productivity, since personnel no longer waste time on strategically irrelevant objectives (Boxall, 2018). In conclusion, SHRM is incredibly useful for enhancing the performance of enterprises.

However, applying SHRM principles can be a costly exercise because it needs a substantial amount of time and real and intangible resources. Vanderstraeten (2018) outlines seven comprehensive processes to obtain SHRM certification. The first step entails gaining a thorough comprehension of organizational objectives. The second stage is to evaluate HR competence and availability of required knowledge for SHRM transition (Vanderstraeten, 2018).

The organization must then determine if its current HR policies support the attainment of strategic goals (Vanderstraeten, 2018). The fourth phase is to determine the ideal state of HR practice and to recognize the gap between the actual state and the ideal state. Fifth, the organization must choose the tools and techniques required to transition from present to desired practices (Vanderstraeten, 2018). The following two processes consist of implementing the identified methods and assessing the outcomes (Vanderstraeten, 2018). Even though SHRM may be tough to implement, businesses must invest in it to streamline processes and increase the productivity of all divisions.

Synthesis of Results

The literature review was incredibly useful in distinguishing between HRM and SHRM and identifying the transitional processes for the latter. The summary found that fundamental HR procedures include recruiting, compensating, training, motivating, and assessing workers. Recent environmental changes, such as the digitization push and the COVID-19 epidemic, have had a substantial effect on HR procedures. While digitization facilitated some of the processes, it dictated a need for additional training of personnel to embrace the change.

The COVID-19 pandemic

Accounting Standard Setting: Political Lobbying Process Essay Help Writing

Accounting standard-setting and adherence to these standards constitute a major pillar of the contemporary business world. These criteria are essential for high-quality financial reporting, which is useful for disseminating economic information about enterprises to stakeholders, including shareholders, potential investors, the government, creditors, and the general public, among others. Since financial reporting provides insight into how the firm has been managed, it enables stakeholders to evaluate the stewardship of the managers and make decisions based on the available information. Therefore, there is a cause for this information reported in the financial accounts to be falsified, which is why accounting rules attempt to ensure its high quality and dependability. According to Tutticci et al (1994)

The establishment of accounting standards restricts the conduct of financial statement preparers. Any restriction on accounting choice may have economic and societal repercussions due to the redistribution of wealth amongst affected parties. The politicization of the accounting standard-setting process reflects these competing interests and suggests the existence of power, influence, and conflict. …..any description of the political process of accounting standard-setting must include how, when, and by whom authority was wielded.

After the 1960s, accounting standards were developed to protect the credibility of the accounting profession by standardizing the presentation of data and bookkeeping practices. This allowed the stakeholders' confidence in the financial statistics to increase and made them simple to interpret, comparable with data from other companies, and reliable for the people involved.

Numerous parties have acknowledged, throughout time, the significance of the standards in terms of permitting financial data to be presented in a particular manner and its influence on investors. Political lobbying has so exerted pressure on the process by which accounting standards are established by various groups around the world. By permitting specific representations to be made in particular ways, it is possible to demonstrate that a company's profitability has increased or to influence the behavior of investors. Christopher Cox, the outgoing chairman of the Securities and Exchange Commission, argued in December 2008 that "accounting standards should not be viewed as a fiscal policy instrument to stimulate or moderate economic growth, but rather as a means to produce neutral and objective measurements of the financial performance of public companies." (Rational, 2008) This underscores the escalating dispute regarding the role of political lobbying on the accounting standard-setting procedure (Dagwell, 2008).

In this instance, the term "lobbying" must be defined in order to comprehend the process through which accounting standard setting is intended to be affected. MacArthur (1996) performed research in this area and was able to define lobbying as the filing of a comment letter that outlines suggested changes to the standard that are necessary for its enhancement. The various stakeholders send these to the standard-setting authorities in order to disclose new results and stimulate action in response to them. This concept was expanded by Georgiou and Roberts (2004) to include not only comment letters, but also a variety of formal and informal meetings and interactions between lobbyists and the standard-setting body, including conversations with board members and staff members. They characterize the lobbying parties as basically consisting of three groups: those lobbying for the plan, those lobbying against the proposal, and those who choose not to advocate at all. Sutton (1988) likewise adheres to these two standards, but excludes the third group of individuals who do not participate in the lobbying process. Political lobbying, according to Zeff (2002), entails self-interested considerations by those preparing the financial statements or other engaged parties, which can be detrimental to the confidence of investors and other users of the financial data.

The process of establishing accounting standards in Australia has also been political to some extent. Since the 1930s, the trend in the United States, the United Kingdom, and Australia has been to adopt generally accepted accounting standards that are considered as the best accounting practice. CPA Australia and the Institute of Chartered Accountants in Australia have been active in the growth of the accountancy profession in Australia for a very long time. Prior to the 1960s, there was a concerted effort to establish standards of accounting practice, but adherence was low (Dagwell, 2008). Consequently, in the 1960s, both organizations collaborated to establish the Australian Accounting Study Foundation, which was intended to do research and develop accounting standards that both groups could endorse. This was in lieu of the danger of government participation in accounting standard-setting via legislation in the wake of a number of spectacular closures in the Australian sector that were partially ascribed to accounting. In order to safeguard the investor, this was followed by involvement by the Commonwealth and States assuming legislative authority to sponsor creation of and adopt accounting standards, which was followed by more control, so introducing federal interests in accounting standard-setting.

As the need arose, this was followed in the 1970s by a process of international harmonization of accounting standards in Australia. The comparability and quality of reporting encouraged by international harmonization of accounting standard-setting permitted more foreign investment in the country, as stakeholders began to have a greater level of trust in the capacity to compare the financial performance of the enterprises. According to Stoddart (1999), the Federal government at the time desired to establish trust in the business community, and accounting standard-setting was identified as a viable means of achieving this objective. He then argues that this move was not so much in the public interest as it was in the interest of the government, which would not only be able to appease the business community and attract more investment, but would also be able to hand control over to a foreign standard-setting body and gain popularity by tackling and addressing this new issue. Stoddart (1999) also emphasizes the Australian Stock Exchange's role in pressing the government for the adoption of International Financial Reporting Standards and the creation of the Corporate Law Economic Reform Program (CLERP). Before a firm may list its securities on a stock market, it must conform with Australian accounting standards. This was significant for the ASX. ASX benefited greatly from the worldwide harmonization, which led to a growth in the number of foreign firms listed on the market while also allowing the exchange to retain a significant number of Australian companies. It was even believed to have provided a substantial portion of the transition's finance, with threatening to withdraw it if the change wasn't accelerated in the 1990s. Thus, the variety of political lobbying employed by the Australian Stock Exchange and other large corporations on the Australian business landscape indicates that the lobbying process in Australia is robust in terms of accounting standard-setting, as the moves benefited the major players while providing the general public with little in the way of improved information. Thus, the process is substantially the result of political lobbying.

Diverse stakeholders are interested in influencing the standard-setting process for a variety of reasons. According to Georgieu and Robert (2004), stakeholders act depending on the financial facts that managers supply them, which results in particular market activities. This leads to alterations in the market's behavior if it is distorted. In this context, experts have proposed that the rules governing the compilation and reporting of accounting information should be market-driven. This proposal is indifferent to those made by numerous organizations who demand information tailored to their own requirements. This lobbying does not always produce the most beneficial outcomes for the public. As Mitchell (2004) noted, the asbestos lobby compelled the Australian government to enact regulations that favored them, which resulted in asbestos-related harm to individuals, a clear failure on the part of the government to protect its population. Because of the compensation system, organizations have a strong motive to campaign for a certain accounting standard-setting. Many managers in large corporations are compensated on the basis of a performance-based pay structure in which their salary is contingent on the company's profitability. This motivates upper management to petition standard-setting organizations to allow them to alter accounting results so as to consistently demonstrate growth and positive profitability in order to receive a higher level of compensation. Dhaliwal (1982) also investigated the phenomena from the viewpoint of the capital structure of the concerned company. The researcher demonstrates that it is a key determinant of political lobbying. It has also been noticed that loan agreements with protective covenants encourage enterprises with a highly leveraged portfolio to manipulate their accounts by violating accounting norms and reporting a lower income, hence increasing the volatility of their reported profitability. Mark-to-market accounting was essential to the goals of Enron's top management to declare larger profitability for the business, which is one of the signs presented here. Clive Peters is one of the Australian figures implicated in an accounting scam. It started legal action against one of its own employees in reaction to improper and manipulated payroll system inputs that led to the commission of a multimillion-dollar fraud.

It is often believed that CFOs are concerned about the homogenizing consequences of objective standard-setting and exert considerable effort to influence it. This was the situation with the International Accounting Standards Board, as it was revealed that the CFO of Novartis approached the chairman of the IASB, Sir David Tweedie, with a threat to switch from IAS to US GAAP if a certain regulation relating to the amortization of goodwill was not changed (Lardon, 1997, cited in Zeff, 2002). This was pertinent to Australia since its accounting rules are congruent with the worldwide accounting standards published by the IASB, which competes with the FASB. These modifications, for which Novartis lobbied, will have an impact on the financial statements of Australian corporations and will undermine the social purpose of accounting information disclosure. This is a factor. As a result of preparers developing a well-organized lobby in respect to standard-setting in the United States, Australian corporations may also favor alternative standards to the International Accounting Standards (IAS), similar to how companies in the United States favor US GAAP. While this does not impart a direct advantage to Australian companies wishing to make the switch, it does provide CFOs with assurance in comparison to the IAS. Governments and auditing and assurance service providers, who have vested interests in accounting standard-setting, are another significant source of influence. They can impact the process in numerous ways, including the organization's funding. This has been a source of criticism for the International Accounting Standards Board, which receives about a third of its money from the four largest accounting firms and the remainder from two hundred international exchanges and corporations. This base must be expanded in order to lessen the inherent conflict of interest. A better alternative could be mandatory donations similar to what the Financial Accounting Standards Board of the United States receives from all of the country's publicly traded corporations (Zeff, 2002).

Government is another significant stakeholder that strives to influence the accounting standards-setting process. In 2008, the outgoing chair of the United States Securities and Exchange Commission stated that accounting standard-setting is not an economic stimulant. However, the government uses it in this way. The recent financial crisis is an excellent illustration of this. As a result of the mark to market laws or fair value accounting, as it is often known, many banks were forced to significantly write down their commitments and risky assets, resulting in their failure. It reflected the excessive risks taken by the banks and the decline in the market value of the securities held on the balance sheet. The banks and the government are now exerting pressure on the standard-setting authorities to let banks to report these risky assets at different values that would not depict such a sharp decline in value as before. Nevertheless, this adjustment in criteria can assist stem the tide of the financial crisis and save certain banks. However, this comes at the expense of the investor and other consumers of the financial statements, who will not see the organization's genuine financial condition. The political pressure exerted by Congress on the FASB can be seen as sacrificing the social purpose of the standard-setting process in favor of the short term, which is further called into question by the nature of campaign contributions these Congressmen receive from the same organizations exerting pressure.

Considering the current dynamics of accounting standard-setting, one can conclude that it consists primarily of political lobbying. Throughout its history, numerous actions have been made to support this claim. In light of the current crisis, the rapidity with which the FASB is changing the rules with the support of political entities calls into doubt its neutrality, as standard-setting is a laborious process that cannot be rushed. This calls into question its integrity. Without the trust of the stakeholders, the intrinsic value of the financial data is diminished. Numerous signs in Australia lead to political lobbying. As demonstrated by the asbestos industry in Australia, the motivation for standard modification in that instance was to avoid giving the public a negative view of the corporation, which ultimately resulted in public harm. In a similar manner, the Australian Stock Exchange was able to lobby the federal government by restricting financing and other actions towards worldwide harmonization of accounting standards, which resulted in an increase in revenue at the expense of the public. Due to its own objectives in establishing credibility with the business community and soothing it, the federal government also assisted these businesses. Although it is stated that the primary motivation for the implementation of new accounting standards is the public interest and the well-being of investors, and thus accounting standard-setting bodies aim to make financial documents more understandable and reliable, in reality the process is heavily influenced by the political lobbying process, thereby sacrificing the social aspect of the process and submitting to the political forces involved. Therefore, accounting standard making is a political lobbying process, and as such, interested parties have multiple opportunities and tools to influence its outcomes.

References

R. Dagwell, Corporate accounting, Sydney: UNSW Press, 2008.

Some economic factors of management lobbying for alternative techniques of accounting: evidence from the accounting for interest expenses issue, Dhaliwal, D.S., Journal of Business Finance and Accounting, vol. 9, no. 2, p. 255, 1982.

Georgiou, G., and Roberts, C.B. (2004), "Corporate lobbying in the United Kingdom: an analysis of attitudes toward the ASB's 1995 deferred taxation proposals," The British Accounting Review, vol. 36, no. 4, p. 441.

MacArthur, J.V. (1996), "An investigation into the impact of cultural factors on the international lobbying of the International Accounting Standards Committee: the case of E32, comparability of financial statements," International Journal of Accounting, Vol.31, No.2, pp.213-237.

The Australian Financial Review, 9 August 2004, Mitchell, A., "Asbestos: a fundamental question remains unanswered"

Motive, T. (2008). Accounting Is Not a Tool for Fiscal Policy, says Cox [online]. CFO. Web.

Working Paper, School of Business, Swinburne University of Technology, Victoria, Australia, Stoddart, E. (1999). "Politics in Action: Inter-organizational conflict in proposed changes to setting Australian accounting standards."

The planned implementation of current cost accounting in the United Kingdom, Sutton, T.G., Journal of Accounting and Economics, vol. 10, no. 2, pp. 127-149, 1988.

Respondent lobbying in the Australian accounting standard-setting process: ED49, Accounting, Auditing & Accountability Journal, Vol. 7, No. 2, 1994, pp. 86-104.

Zeff, Stephen. (2002). Political lobbying over proposed standards: a difficulty for the IASB. (Commentary). (International Accounting Standards Board) online (International Accounting Standards Board). Retrieve My Library. Web.

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Ethical Issues In Information Privacy Essay Help Writing

Abstract

In today's corporate environment, information is a vital asset that firms defend with all available means. This paper will examine the relationship between information and privacy as firms compete for a piece of the consumer's wallet. This study will also examine the many reasons for information privacy and the repercussions that have befallen firms who have not kept marketing strategies and expansion plans confidential. The findings of this research revealed that information privacy is essential for any business that wants to remain competitive and ensure that their products and services are always in demand among consumers. A second revelation was that there are numerous informational components within an organization, some of which can be exchanged and others of which cannot. This research explores informational privacy in light of moral theories in order to assess its consequences critically. The inference is that in the majority of cases, employees and even management divulge information without realizing that doing so can have disastrous effects for the firm. This document underlines, among other ideas, the need for a corporation to have clearly established guidelines for managing sensitive information.

Introduction

According to the chairman of IBM, Palmisano, "almost all of us believe that our decisions and work should be guided by our values." (IBM, 2009). This comment was given by the chairman when introducing the IBM business conduct guidelines to the organization's workers. The chairman emphasizes the importance of the rules when the organization decides on what the employees should do, not with the individual in mind but with the organization as a whole in mind. This is done with the awareness that at every level, every employee has the ability to make decisions that not only effect them personally, but also the organization as a whole. This remark describes an important component of business ethics that firms face on sometimes. In contrast to regulations that are clearly stated and can sometimes be read directly, an organization's code of ethics provides only principles that personnel should follow. (Victoria, 2004). Therefore, the determination of whether a specific action is ethical or unethical rests with individuals, who may view or interpret them differently. Most firms produce well-written documents that are intended to serve as employee instructions. Nonetheless, ethical difficulties continue to occur due to divergent perspectives and interpretations. Even IBM acknowledges that people are occasionally confronted with ethical dilemmas and that there is no single predetermined way to deal with them, even if in some circumstances rapid decisions are necessary. Because of this, the majority of firms give employees with guidelines so that, when faced with ethical dilemmas, they can make decisions in accordance with the ideals outlined in their respective codes of conduct. An organization should operate as a unified entity, meaning its ideals must never be in conflict. It gets challenging, however, when each person is free to operate according to their own ideals. Two normative theories of moral ethics, deontology and utilitarianism, provide an excellent explanation for the disparities. Deontology emphasizes autonomous moral obligations guided and regulated by certain norms. Religion provides the set of norms controlling deontological behavior. In contrast, utilitarianism asserts that an action is moral if it contributes to a greater benefit. (Darwal, 2003).

Context of the Study

Most firms consider the disclosure of regulatory information to competitors to be a highly serious offense. The disclosure of confidential information is unethical since it violates the values of loyalty. This is especially true when the conduct is committed with the goal of destroying a company's finances or reputation. However, there are occasions in which employees may reveal private information accidentally and still be held to the same standard as those who do so intentionally. The degree to which the second act is unethical is debatable, whereas the degree to which the first conduct is unethical is evident. There is also a third scenario known as "whistleblowing," in which employees voluntarily provide information about dishonest senior personnel. Regarding the extent to which whistleblowing is ethical, especially in terms of how it taints an organization's reputation, there are differing opinions. Therefore, while evaluating informational privacy from an ethical standpoint, it is essential to place these elements in context prior to making a snap decision. Ethical difficulties in information privacy also occur when businesses force their employees to provide too intimate information about themselves. (Castellin, 2004).

Research Objectives

The primary purpose of this study is to establish the extent to which informational privacy issues are ethically relevant. Other goals include analyzing how companies view privacy and how they respond to breaches of informational privacy.

Study Concerns

This study's objectives will be achieved by attempting to answer the following questions:

The reason why data privacy becomes a concern. Methods by which one's privacy can be compromised. Organizations can take measures to mitigate and prevent data privacy issues.

Literature Review

In a case study concerning Hewlett-Packard, Patricia Dunn, the corporate director of Hewlett-Packard in Silicon Valley, had recently developed suspicions that a board member was leaking company secrets. Dunn then decided to employ private investigators to identify the perpetrator. Methods employed by the private investigators to collect information included posing as HP directors and journalists in order to obtain confidential employee information. Pretexting is the act of getting private information by pretending to be someone else. Eventually, the perpetrator was apprehended, but Dunn was also forced to retire, ostensibly due to her unscrupulous hiring of investigators who collected private information under false pretenses. Regarding employee privacy, IBM's principles state that management is permitted to collect confidential employee information within the company's walls. However, the information is received after notifying the employee. Additionally, IBM's procedures underline that employees are prohibited from obtaining the confidential information of other employees. Although pretexting is not included in the standards, it is deemed unethical. Legally, pretexting is regarded a criminal act, even if the majority of organizations do not have pretexting prohibitions. (IBM, 2009).

According to a recent msnbc (2009) article, the U.S. Supreme Court rejected a challenge to the policy prohibiting gays and lesbians from serving openly in the military. According to an article by mscbn, the Department of Defense used the "don't ask, don't tell" strategy to ensure that no one in the military can proclaim openly that they are gay or lesbian. The policy's primary objective was to "maintain cohesion and discipline." The military is one of several American employers that compel employees to conform to a specific employment contract, failure of which might result in instant termination or other disciplinary measures. Process employees are usually forced to answer questions, some of which are improper, during enumeration or hiring.

Ethical Concerns

According to John Stuart Mill's (1863) "Greatest Happiness Principle," activities are right to the extent that they tend to increase happiness and bad to the extent that they tend to create the opposite. This is the foundation of the utilitarian philosophy. This technique is especially pertinent and appropriate when analyzing a scenario in which various people hold differing viewpoints based on their values. Therefore, the morality of an action depends on the extent to which it fosters happiness. Is it acceptable or immoral for a physician to euthanize a chronically ill patient at the request of the patient and the patient's family? Since the deed alleviates the suffering of both the sufferer and his or her family, utilitarianism would undoubtedly view it as moral. However, from a deontological perspective, the conduct will be deemed immoral because it violates religious beliefs and principles that God should decide who lives and who dies. Dunn's actions were motivated by the fact that confidential information was leaking outside, which is bad for business, especially in the face of competition, and she was determined to guarantee that the perpetrator was apprehended and appropriately punished. She decided to hire private detectives as a result. The perpetrator, George Keyworth, questioned Dunn, upon his identification, why she had not asked him about the leak, as he would have told her. However, the motivation behind Keyworth's behavior remains unclear. If Keyworth was operating in the company's best interest and not his own, there is no justification for his actions, as they clearly violate the morality of any business. According to HP's regulations, Keyworth may only be removed by shareholder vote.

Tom Perkins, the materialistic director who advocated for Dunn's forced resignation, put his personal interests ahead of the company's. First, one may argue that Perkin's could have used Keyworth knowing Dunn's response. Due to their distinct patterns of operation, it is also evident that Dunn and Perkin did not get along very well. It would be unfair to plot against another individual simply because they function differently, putting the reputation and image of the entire firm at risk. Likewise, Dunn's actions put the organization's image and reputation at jeopardy.

One of the prerequisites for enlistment in the military is that a person cannot have more than two dependents. The most likely justification for such a requirement is so that, in the event of death while performing a duty with a high possibility of occurrence, the government will not have to shoulder a bigger burden of providing for dependents. This argument is supported by the deontological theory of normative ethics, which holds that the greater good must always be prioritized. The mission of the US military is to safeguard the safety of American citizens against attack; accordingly, the US military is tasked by the government with reducing costs so that they can be allocated to other military programs, such as weapon research and development. (2009) Military.com. Due to the fact that the US military protects all American citizens, although an individual may only defend up to three people, for instance, the military performs a higher good. However, the military is a tremendous duty that requires additional qualities, such as ardor and unwavering patriotism. Therefore, a person should not be refused the opportunity to enroll solely due to the fact that they have a large number of dependents if they have carefully evaluated all aspects of military service and still feel strongly about joining. Another significant consideration would be age, as it is assumed that the more dependents a person has, the more likely they are to be older than 35, which is the maximum age for enlistment. This is not always the case, as the individual may be caring for siblings, parents, or even grandparents. (David, 2006).

For those younger than 17 years of age, parental authorization is essential before they can join the military. The common notion is that these individuals lack the ability to make long-term decisions, such as joining the military. Parental approval should not be required if an individual's legal age has previously been established. A person should not be denied the opportunity to serve other American citizens because their parents believe they would be happier as a lawyer or doctor. The most essential factors are a person's eligibility to join the military and their willingness to serve American citizens. Some parents may also exert pressure on their children to enlist in the military, therefore parental approval does not show an individual's willingness. Deontology will argue that the greater good requires ensuring that individuals under the age of 17 make decisions responsibly with parental assistance. However, not all parents provide the proper counsel, as the individual may feel pressured to uphold the family legacy. (2009) Military.com.

Discussion

As mentioned by the chairman of IBM, individuals act in accordance with their varying values. Dunn's activities violated the standards of operation from a deontological standpoint since the private investigators she hired exploited pretexts. From a utilitarian standpoint, Dunn also neglected the organization's broader welfare. (Stuart, 1863). Therefore, it was appropriate for Dunn to be required to resign. This study employs moral theories to highlight certain features of informational privacy in relation to ethical concerns. It is widely acknowledged that moral judgements, particularly in the modern world, are viewed and seen differently. However, it is generally accepted that certain types of information should never leave the confines of the boardroom, let alone the business. McCullough (2001) There are also employee-specific details that human resources is not required to reveal, not even to other employees. Ethical issues are one of many various contentious issues in the corporate world of today. This is due to the fact that they can be perceived and contested from several angles, as stated by the discussed ethical theories. For instance, the corporate director of Hewlett-Packard acted in the company's best interest. However, because she conducted her research in an unethical manner, she may not be able to win the case. Keyworth. Informational privacy is highlighted in the two examples; Keyworth leaked private firm information in an unethical manner, and Patricia Dunn received knowledge about Keyworth's acts in an unethical manner. Regarding the United States military, it is likewise obvious that asking candidates about their sexual orientation before enlistment is unethical. These are the different methods through which the privacy of sensitive data might be compromised.

Recommendations

Whether ethical questions are viewed from a deontological or utilitarian perspective, it is simple to see that views vary. However, companies can have a set of well defined criteria regarding what information can be shared and with whom. Such standards can prevent staff from inadvertently divulging sensitive information. (Gregor et al 2003). These standards can also serve as proof in the event that an employee violates them. Employers should also refrain from requesting sensitive personal information from employees to avoid putting their firm in a negative light. Bowred and Meyer (2003) The military's "don't ask, don't tell" policy provides an example.

Conclusion

The instances presented in this paper illustrate numerous ethical dilemmas that may arise in the context of information privacy. An employee may share private information about an organization; an organization may disclose or seek private information about employees; and employers may request sensitive private information from interviewees. There are also a variety of ethical theories that can be utilized to debate informational privacy issues, and the objective is to highlight the diversity. According to this study's conclusion, however, private information should be respected and should not be disclosed.

Bibliography

M. Bowred and J. Meyer (2002). Ethical Concerns Regarding Employee Compensation. California: University of California Press Castellin, M. (2004). A Contemporary Approach to Ethical Issues in Business New York: McGraw-Hill Darwal, S. (2003). Deontology, published by Blackwell. David A. (2006). Newsweek. 144 (10). L. Gregor, S. Sharon, and L. Emerald (2003). Issues of Ethics from a Business Perspective. New York, New York: Blackwell. (2009). Business Conduct Guidelines. L. McCullough (2001). Ethical Problems from a Legal Perspective Simon & Schuster, Military.com, Toronto (2009). 10 Steps to Joining the Armed Forces Web. Stuart, J. (1863). Utilitarianism. Victoria, M. A., web (2004). Human Resource Management and Ethical Considerations New York: McGraw Hill

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Developing Leader Skills During The Leadership Program Essay Help Writing

Table of Contents
Introduction My aims The manager's responsibilities The difficulty procedure The genteel enterprise Passion Leadership is studying Conclusion Bibliography

Introduction

Leadership has been characterized in numerous ways throughout history. Political philosophers such Plato, Sun Tzu, Machiavelli, and Pareto shaped the traditional understanding of leadership. Only Sun Tzu appears to associate leadership with liberal or humanitarian values (Grint, 1997). The remaining three authors have frequently been condemned as dictatorial, particularly Machiavelli. During the traditionalist era, leadership theory began to take on a more humanistic character, and the concept that leadership encompasses more than just the leader evolved. The current study of leadership has adopted a more liberal attitude and focuses on three key areas: democracy, gender, and cultural factors.

My initial experience with leadership led me to believe that leadership entails monitoring, supervising, and controlling. It was a combination of the classical and conventional approaches to leadership, with the classical method predominating. In order for my supervision to be effective, I needed to become more skilled in communicating it. As a result of the leadership training, however, my views on leadership and its practical ideals have changed substantially.

My aims

Before joining the leadership program, I had three goals in mind. The first objective was to enhance creative and presentational skills. This is considered a crucial aspect of good leadership since it is necessary to effectively convey the vision and strategy of the leadership (Baldoni, 2003). Second, as my position as a leader requires a higher level of emotional intelligence, I needed to grow in this area. The third objective was to manage me, and the fourth objective was to enhance my interpersonal skills within a team in order to boost member collaboration. Therefore, I anticipated the leadership program to identify my leadership shortcomings and assist me in correcting them so that I could become a better and more effective leader.

In addition, correct the five fatal flaws outlined by Zenger and Folkman (2002) as the Five Fatal Flaws, which I believed I possessed:

Lack of ability to learn from experience Lack of fundamental interpersonal skills and abilities Unwillingness to consider new or differing ideas Lack of responsibility Deficit in initiative

These are the guidelines for building a leader, which were adhered to, and I believe I lacked the following trait, which needed to be corrected: From a leadership standpoint, I had to do the following:

The capacity to gain knowledge through experience and error Importance of vision, developing my vision to see the future and having a clear objective and path to achieve it. The capacity to initiate action

The manager's responsibilities

In the first week of the leadership-training program, I completed the LPI and MBTI in order to determine my personality type. The former demonstrated that my lowest results reflect the difficulty of the procedure that I must enhance. In contrast, I scored highest for Enable Others to Act. The latter indicates that I am an Introverted, Sensing, Thinking, and Perceiving (ISTP) kind of person.

As the nature of the position necessitates that I am more interactive and possess a greater level of emotional intelligence, I must conform to the organizational requirements. My position requires that I gain a deeper understanding of my staff and assist them when they fall behind. This is possible through the type of leadership described by Jack Welch: "Leaders are those who inspire with a clear vision of how things can be done better" (Slater, 1999, p. 29). The clear message that has been conveyed is that managers must cease "managing" and adopt the methods of a leader who does not issue orders but rather assists staff in accomplishing a goal.

Welch essentially taught me that micromanagement is detrimental to an organization. A manager must comprehend the organization's pulse and act accordingly for the system to function. What Jack Welch proposes for GE, that he "cannot micromanage a multibillion-dollar organization," is applicable to the vast majority of organizations, including mine.

According to conventional wisdom, leaders must have a vision and provide objectives for their people. Jack Welch believes that establishing a goal necessitates a series of conversations to modify it. Instead, he advises that leaders absorb the external environment, learn from it, and adapt accordingly. Jack Welch believes:

"What I've observed is that the intensity level, global awareness, facing reality, and seeing the world as it is are so much more obvious in December 1997 than they were ten or fifteen years ago, when the importance of form was paramount. The current form is not permitted. Global conflicts prohibit structure. It consists entirely of substance. Form indicates a lack of intense interest in the company. Someone on numerous boards. Constantly delivering public speeches A person who has attained the position of chairman as the culmination of their career, as opposed to the commencement. See, my career will resume in January. What I've done up to this point is pointless. Meaningless. This is only the beginning." (Slater, 1999, p. 32)

Therefore, it is evident from Jack Welch's statements that we, as leaders, must determine the optimal combination for the organization and conform to the needs that our organization requires of us. Thus, to become a leader, one must comprehend the "sweet spot" of the COP model, where my talents, passion, and organizational need converge (Zenger & Folkman, 2002). Identifying my talents is essential since they will help me recognize my strengths. Then I must comprehend my passion for the things I enjoy doing. Then, comprehend the organization's needs. All three will assist me in becoming an effective leader.

The difficulty procedure

By the end of the third week of training, I will have determined my goal as a leader and what I want to accomplish. I wish to enhance the challenge procedure that I observed on tape during the third week of class. It described the Five Exemplary Leadership Practices. There are five jobs held by professionals and specialists in the five steps of excellent leadership: model the path, inspire a shared vision, question the process, empower others to act, and encourage the heart.

Leaders challenge the process by experimenting, taking chances, and learning from mistakes, but if I'm always terrified of fear, mistakes, and failure, especially in the face of barriers, I want to improve "Challenge The Process" the most. I want to look for a chance to take some risks and be courageous enough to learn from my failures because the leader is simultaneously leaner. Therefore, in order to adapt to a specific situation as a leader, I must do the following:

"A leader must first establish what can be termed a holding environment…

Second, a leader is accountable for guidance, protection, orientation, conflict management, and norm formation…

Thirdly, a leader must have presence and composure; possibly the most challenging aspect of a leader's job is to maintain composure under pressure. (Heifetz & Laurie, 1997, pp. 127-8)

As a result, my primary objective as a leader will be to adapt myself and others to the organization. This resembles the concept described in the COP model outlined above.

Genteel organization

As my organization requires a high level of emotional intelligence in its leaders, it is classified as a "gentle organization." In this type of business, leaders must be extremely attentive and gentle with employees. Therefore, I've learnt that employees in these types of firms are "trustworthy, loyal, helpful, friendly, courteous, kind, obedient, cheerful, courageous, and reverent" (Zenger & Folkman, 2002, p. 131). I would like the organization to become a learning organization in which leaders are not complacent and learn from their failures.

During the training sessions, we were provided with instances to solve. In one such situation, COP was employed to solve the case's dilemma. The matter involves Tara, whom I believed to have recently recruited. She is a newly-graduated software engineer from a renowned university. Despite the fact that she is a recent graduate, you are convinced that she will bring excitement and innovative ideas to her new programming position. You have assigned her an important new project. The question was how would I instruct her? With the trainer's proposal that we utilize the COP model to handle the issue, I discovered that I need to comprehend her competencies, her passion, and the organization's requirements. Therefore, I must take the following actions:

Ask her about the talents that demonstrate the competences she possesses. Determine her passion by determining what about the project or the new job most excites her. Then, identifying a comparable requirement inside the organization and instructing her to delegate the task elsewhere.

This specific reading, Leaders Must Fit Their Organization, had a profound effect on me, as I have always thought that the right person should be assigned to the proper role. In addition, the essay suggested a technique for applying this idea by adapting the COP model to individual competencies, passions, and organizational requirements.

Passion

The class also taught me the significance of having a burning desire for anything. Previously, I rarely valued its credibility. However, the training sessions taught me to see the significance of enthusiasm. This course has taught me that passion is equally essential, something I never considered before. In the final analysis, the greatest distinction between competent leaders and exceptional leaders is passion.

We were subjected to yet another leadership examination via a case study. Joe, a hypothetical character who has been a member of our group for six months, was involved in an interpersonal relationship case. His performance has been inadequate in numerous respects. At least twice every week, he arrives late to work, is disruptive in team meetings, and has allowed numerous substandard items to pass past his station. The question was posed as to what we should do regarding Joe.

Analyzing with the assistance of the trainer, we determined that as a leader, we must not allow it to become a recurring issue and identify the root cause, such as avoiding attribution biases, providing prompt corrective feedback, explaining the negative impact of ineffective behavior, and asking the individual to suggest solutions.

Leadership involves study

"Leadership as Learning," which is the key to transforming and learning companies, was yet another valuable lesson I gained from the training sessions (Heifetz & Laurie, 1997). Here, it is argued that the leaders' methods were inefficient because they neglected to account for a variety of relevant factors. In order to formulate and implement a strategy effectively, it is necessary to obtain perspectives from many angles. As leaders, we have certain tools and resources at our disposal that must be made accessible to all for optimal use (Heifetz & Laurie, 1997; Slater, 1999). Consequently, we must adhere to the rules outlined by Manning and Curtis (2003), as the effective vision is as follows:

The leader's vision must be communicated to those personnel who have the capacity to implement the goal. Vision must be presented to followers and acquire their support. A vision must be broad and specific so that every member may comprehend it and understand his or her position within it. The vision must be capable of elevating the organization's values and inspiring its followers.

Conclusion

However, leaders must avoid fatal errors and blunders and develop their emotional intelligence. Therefore, a good leader must understand how to manage and adapt emotional intelligence when working in a team, and the five processes helped me become a successful leader. Understanding the importance of good communication of ideas and vision in order to become a great leader is another lesson that emerged from the workshops (Baldoni, 2003).

Sources Cited

Baldoni, J. (2003). Leaders with excellent communication skills are excellent communicators. McGraw-Hill Professional, New York. Grint, K. (1997). Classical, contemporary, and critical perspectives on leadership. Oxford University Press, New York. Heifetz, R. A., & Laurie, D. L. (1997). The Responsibility of Leadership. 124-134 in Harvard Business Review. Manning, G., and K. Curtis (2003). The Art of Management. McGraw-Hill International, New York. Slater, R. (1999). Jack Welch and the General Electric method. McGraw-Hill Professional, New York. Zenger, J. H., & Folkman, J. (2002). The Exceptional Leader. McGraw-Hill Professional, New York.

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UAE Airline Company’s Change Management Essay Help Writing

Table of Contents
The Need for the Change and Transformation Toolkit Kurt Lewin and Kubler-Ross' Change Management Models Impact of Implementing the Stated Change Ideas The Suggested Organization X Change Model Conclusion References

In the current competitive business world, organizations that wish to remain operational and successful cannot disregard the need of embracing numerous transformation concepts. This study focuses on Organization X, a Dubai, United Arab Emirates-based airline firm. Over the past decade, this company has seen significant transformation. Its execution of various change concepts has elevated it to the top of the airline industry worldwide. This business is well-known for providing high-quality services in a variety of industries, including the travel and tourist industry. Theories such as Kurt Lewin's and David Kubler-Ross' change frameworks play a significant role in facilitating an understanding of Organization X's change process, in addition to the various elements presented in the change toolkit, such as the issue of managing resistance to change and employees' preparedness for transformations. This study, however, advises the implementation of John Kotter's eight-step change paradigm, which can secure this company's continued dominance in the aviation business through rapid and sustainable transformations.

The Need for the Change and Transformation Toolkit

According to a study by Laposi, Dan, and Oţel (2016), firms that fail to adapt change risk losing revenue due to a combination of variables. According to these experts, the amount of rivalry has a significant impact in encouraging businesses to embrace change. This study examines a real-world firm, Nokia, whose ineffective change management strategies led to its demise because it failed to keep pace with the competition (Laposi et al., 2016). Therefore, Nokia's product quality was lower to that of its competitors, like Motorola, Samsung, LG, and Huawei, among others. The readiness issue mentioned in the change toolkit is evident. According to Cawsey, Deszca, and Ingols (2015), the change toolkit includes a number of checklists that businesses must consider when preparing for transitions.

In response to increased competition from other airlines, such as Lufthansa Group, Organization X, which serves as the basis for this article, undertook a significant organizational shift ten years ago that emphasized the importance of providing quality services to its consumers. This company was conscious of the effect service quality has on maintaining clients and drawing new ones, an approach that has substantially increased its market competitiveness. The objective of this transition was to provide excellent products and services at competitive costs. Organization X found a gap in the travel and tourist sector in which clients were paying outrageous prices for subpar services, despite the fact that some of the proposed modifications involve increasing the number of products offered. Ismail and Yunan (2016) found that "service quality dimensions, namely tangible, reliability, responsiveness, assurance, and empathy, were significantly correlated with customer satisfaction and customer loyalty" (p. 269). This organization has expanded its activities across six continents as a consequence of its low prices and improved service quality.

In response to the increasing demand for travel services in the travel and tourist business, Organization X took the necessary measures. Since 2008, Organization X's fleet of aircraft has more than doubled, and it now travels to more than 155 destinations around the globe ("Emirates", 2018). Specifically, in accordance with the principles of change readiness offered in the change toolkit, the investigated company identified customer relationship management (CRM) as a crucial success component in its travel and tourism industry. Organization X required technologies such as in-flight connection, IOT baggage management, and improved usage of mobile platforms to improve its clients' service experience. Moreover, this corporation discovered that the usage of big data and other technology will facilitate favorable pricing discrimination for clients. Its choice to provide extra jets was also heavily influenced by the strengthening of its physical and intangible infrastructure. The acquisition of contemporary aircraft that would not only enhance the customer experience but also increase passenger capacity necessitated a change within Organization X in order to make this modification.

Sometimes, the price of certain goods and services might affect a client's loyalty to a particular business. In this regard, Lee and Fay (2017) claim that offering low rates, as evidenced in companies such as Netflix, Pandora, Hyundai, and Mitsubishi, serves as a strategy for not only retaining the present customer base but also acquiring a new consumer base. In the present context, Organization X aimed to secure client loyalty by providing the best price in the business. The rulers of Dubai had the concept of making the city the hub of transportation networks. In order to obtain additional clients and markets, organization X was compelled to adopt price increases as a result of the municipality's aspiration to become a region that could link vibrant economies, including China and India, to Europe. Overall, Organization X's decision to modify the status and pricing of its services increased its potential to become the future of mass travel.

Kurt Lewin and Kubler-Ross' Change Management Models

Without mentioning Kubler-Ross and Kurt Lewin's contributions to the field of change, a full examination of the subject of reforms in a corporation like Organization X is incomplete. According to Mitchell (2013), Lewin outlined three steps that change specialists must address in order to make organization-wide innovations lasting. During the implementation of transitions experienced by Organization X, Lewin's change management framework was utilized extensively. The model consists of defrost, alter, and refreeze phases (Brown, 2009). In its implementation of the unfreeze step, the investigated company underlined the need to alter the manner in which it provided services to clients.

Organization X was expected to concentrate training, the incorporation of technology, and the acquisition of new aircraft throughout the transformation period. Additionally, the unfreeze phase of Lewin's change management model pushed the executives of this organization to prepare stakeholders for change (Ally, Obasan, & Abass, 2016). Organization X conducted the defrosting phase of the reorganization by adapting its services to the current market conditions. This company implemented the change phase of Lewin's strategy by acquiring contemporary airplanes such as Boeing 777 and Airbus A380 and educating its employees to improve the client experience (Schonland, 2015). In addition, technology such as in-flight internet, big data, and mobile applications for bookings were utilized to simplify the transformation process (Schonland, 2015). Using the refreeze model, this business institutionalized its customer service enhancements.

Organization X implemented the notion of refreezing by integrating all changes into its institutional culture. To assure the viability of the implemented reforms, this corporation got the backing of the Dubai government, which not only sanctioned but also aided their implementation. In addition to establishing an incentive system to motivate its employees, Organization X built feedback mechanisms to ensure that workers' perspectives were taken into account during the change implementation process in order to lessen resistance. The introduction of support and mentorship activities also contributed to the success of Organization X's refreezing initiative. As part of its corporate culture, this organization continuously analyzes and assesses all change processes to guarantee that they result in services of the highest quality. Additionally, Organization X implemented the refreezing part of Lewin's change management model by ordering airplanes that facilitated the delivery of exceptional services to its prized clients.

During Organization X's change management effort, the Kubler-Ross change framework was also utilized. According to Lawrence, Ruppel, and Tworoger (2014), organizations wishing to migrate from one culture to another have found this transformation framework useful. It discusses five phenomena witnessed by stakeholders during various transformations. The five phases identified by Kubler-Ross are denial and shock, resentment, bargaining, despair, and acceptance (Lawrence et al., 2014). Tim Clark, the president of Organization X, recognized that the market's transformation necessitated network and fleet-specific adjustments. Clark accepted the situation and quickly adapted to the shifting west-to-east movement patterns despite a small denial of the urgency and inevitability of change. Clark acknowledged, in accordance with Kubler-element Ross's of negotiation, the need to negotiate with foreign governments to acquire access to their markets from Dubai (Lawrence et al., 2014).

After embracing the modification, this company's ongoing reorganization has been effective due to the participation of numerous stakeholders (Kirkpatrick, 2001). For instance, Dubai's ruling elites have played a significant role in providing the necessary financing for service development by acting as change sponsors. As change champions, executives at Organization X assist quality improvement efforts. Change agents are typically lower-level administrators, including managers, team leaders, and employees. The employees of Organization X, notably cabin crew officials and call center employees, perform the role of change participants who strive to enhance the customer experience through everyday interactions. In addition, it is essential to mention that the transition process in this company during the previous decade could not have been successful without the Dubai government's assistance in approving Organization X's business plans ("CEO interview," 2012).

Impact of Implementing the Stated Change Ideas

Despite the fact that firms implement changes to enhance their performance and efficiency, it is essential to note that resistance from employees and other stakeholders accompanies such transformations. This topic is included in the change toolkit as a means of ensuring that businesses establish adequate countermeasures to any pushback. These techniques may involve expressing the need for reforms to all relevant parties and involving members in the decision-making process for change. Ahmad and Cheng's (2018) paper acknowledges the presence of resistance and suggests practical methods for overcoming it. According to these authors, "change agents must frequently provide accurate, timely, and comprehensive information that addresses employee concerns" (Ahmad & Chen, 2018, p. 202). Nevertheless, numerous improvements typically yield tremendous effects.

For example, in the contemporary setting, the development in service quality at Organization X has resulted in tremendous progress for this airline firm. In particular, reforms led to an increase in passenger capacity, the expansion of the company's aircraft fleet, an improvement in client experience and happiness, an increase in customer loyalty, and an increase in profitability (Lee & Fay, 2017). Figure 1 illustrates the 15-year expansion of Organization X's passenger capacity and aircraft fleet after adopting the specified change concepts and models.

Graph 1 illustrates the expansion of Organization X's passenger capacity and aircraft fleet over time (Schonland, 2015).

According to the data given in Figure 1, this company's fleet has increased by 636 percent since 2000. (Schonland, 2015). In the past decade, its fleet has grown by more than 100 percent. Today, Organization X acquires wide-body aircraft, such as the Boeing 7777 and Airbus A380, in order to improve the client experience. Compared to its competitors, this company has the biggest number of modern planes in its fleet. Its passenger capacity has increased throughout the years. In particular, the number of consumers served has more than doubled between 2009/2010 and 2017/18. (Schonland, 2015). This achievement indicates that clients prefer Organization X's superior services over those of its competitors who have failed to implement quality and pricing changes.

In addition, the adoption of the stated change concepts influenced Organization X's culture in a variety of ways, including the dedication of its management team and the employees' adoption of technology. Ally et al. (2016) confirm that change management has a clear correlation with employee engagement. In addition, these writers identify a correlation between employee opposition to reforms and the success or failure of change projects (Ally et al., 2016). Regarding the commitment of Organization X's management staff, this business embraced a robust institutional culture that emphasized the need of enhancing customer service. Its leadership adopted a mindset that presently supports the delivery of superior services. Regarding employee participation, the management now recruits individuals from varied backgrounds. O'Brien, Scheffer, van Nes, and van der Lee (2015) refute Ursil and Fayaz's (2017) claim that a diverse workforce does not lead to remarkable organizational results by highlighting the extent to which diverse employees lead to outstanding group performance due to the sharing of diverse and constructive ideas regarding a particular task.

In the contemporary setting, Organization X's extraordinary performance over the past decade can be attributed to its diversified workforce. As a result of this human transition, this company's culture now emphasizes the constant enhancement of client experiences. Regarding high technology, Organization X's corporate culture is predicated on the understanding that modern firms can only remain competitive by utilizing the technological potential. This corporation has incorporated several significant technologies, including CRM software, in-flight networking, IOT baggage management, and the usage of big data (Pasha, 2014). When expanding its fleet, the management of Organization X prioritizes the acquisition of the most advanced and environmentally friendly aircraft. Adapting to this transformation has resulted in technological advancements that have increased client happiness. Many functions of Organization X increasingly rely on technology to provide superior customer service.

The Change Model Suggested for Organization X

Even though Organization X has made significant progress in terms of performance and profitability thanks to the implementation of Kubler-Ross and Kurt Lewin's change management framework, it can achieve even greater success by embracing John Kotter's 8-step change model. To promote the acceptance of continual and sustained changes, this organization must use this approach. This model has been demonstrated to be effective at removing challenges related with change implementation, such as worker resistance. This approach can assist Organization X in assembling a team dedicated to implementing the change. Through Kotter's transformational model, this organization will not only recognize the importance of articulating its vision for change, but will also consistently convey the transformation's goal. According to Anderson (2014), Organization X must also embrace the concept of employee empowerment, establish short-term objectives, sustain tenacity, and make the transformation permanent.

As part of the change framework defined by Kotter, ensuring rapid and sustainable change execution (Kotter & Cohen, 2012). Organization X must prioritize the maintenance of the change process by strengthening its systems, structures, and policies. For instance, the adoption of a policy that promotes this organization to implement technological systems to facilitate the automation of its processes is an additional example of how Kotter's theory of change management may be useful. In addition, it must acquire more wide-bodied aircraft to boost customer comfort in order to maximize its change management tactics. In addition to upgrading in-flight entertainment to enhance the customer experience, this company can expand its network of operations to allow clients from all over the world to experience superior services.

Conclusion

The overarching objective of implementing a certain change in a company is to increase the current levels of performance and productivity. However, it is important to note that many change concepts may not result in the desired enhancements. Consequently, a company is expected to investigate strategic improvements that yield the most positive outcomes. The 1985-founded organization X began operations with only two aircraft: an Airbus 300 B4 and a Boeing 737. This organization incorporated several transformational principles, such as the change toolkit's theories and the frameworks of Kurt Lewin and David Kubler-Ross, in order to boost its reputation through the provision of superior services. Despite the tremendous progress made after implementing these change models, this article recommends that Organization X implement John P. Kotter's change framework, which allows for more rapid and durable restructuring operations.

References

Ahmad, A. B., and Z. Cheng (2018). The influence of change content, context, process, and leadership on employees' commitment to change: the case of public companies in the Kurdistan Region of Iraq. Public Personnel Management, 47(2), 195-216.

Ally, H. B., Obasan, K. A., Abass, H. A. (2016). Perceptions of change management in universities in Nigeria. FACES Journal Belo Horizonte, 15(2), 67-80.

Anderson, D. (2014). Organization development is the process of guiding an organization's transformation (3rd ed.). Thousand Oaks, California: Sage Publishing.

The Brown, T. (2009). How design thinking influences organizational transformation and innovation. The New York, New York location of Harper Business.

Cawsey, T. F., G. Deszca, and C. A. Ingols (2015). Change management: an action-oriented toolset (3rd ed.). London, United Kingdom: Sage Publications.

CEO interview: Emirates Airline's can-do mentality (2012). Web.

Emirates: The landmarks of its extraordinary journey (2018). Web.

Ismail, A., & Yunan, Y. M. (2016). Quality of service as a predictor of customer happiness and loyalty. The Journal of Scientific Logistics, 12(4), 269-283.

Kirkpatrick, D. (2001). Approaches, methodologies, and case studies for effectively managing change. Oxford, UK: Butterworth-Heinemann.

Kotter, J., & Cohen, D. (2012). The heart of change: true accounts of how individuals transform companies. Boston, Massachusetts: Harvard Business Review Press

Laposi, E. O., Dan, S. I., & Oţel, C. C. (2016). Change management – A dominating aspect of organization management. 15(2), pages 306-313, in Review of Management & Economic Engineering.

Lawrence, E., C. P. Ruppel, and L. C. Tworoger (2014). The significance of emotional labor for leaders throughout organizational change involving emotions and cognitions. 18(1), pp. 258-273. Journal of Organizational Culture, Communications, and Conflict.

Lee, S., and S. Fay (2017). Why provide discounts to previous customers? Utilizing social pricing comparisons to increase client retention. 15(2) of Quantitative Marketing & Economics, 123-163.

Choosing the optimal theory to achieve planned change, Nursing Management, 20(1), 32-37, Mitchell, G. (2013).

O'Brien, K. R., Scheffer, M., van Nes, E. H., & van der Lee, R. (2015). A change model for how to break the cycle of poor workforce diversity. PLoS ONE, 10(7), 1-15.

Pasha, A. (2014). Web-based flight management.

A. Schonland (2015). Emirates — thirty years of tremendous expansion. Gulf News, online.

Ursil, M. M., & Fayaz, A. N. (2017). Workforce diversity and employee performance: An empirical study of telecom organizations. Amity Global Business Review, 12, 107-115.

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The Annual Financial Report Of Apple Inc. Essay Help Writing

Apple Inc. produces accurate financial accounts. The research focuses on Apple Inc.'s 2011 annual financial report. The focus of the research is on analyzing the material sections of the annual financial report. The 2011 annual financial report suggests that Apple Inc. was profitable.

The yearly financial report contains several key elements. The financial report discusses the business of the corporation. The report outlines the history of the company. The report details the business strategy and organizational structure of the company. The study describes the goods, product support, and services of Apple Inc.

The second section of the study focuses on the stock market activity of Apple Inc. The stock market activities include the company's stock market equity's increase and decrease. The second section of the annual report examines dividends, the purchase of equity, and the performance of the company's shares. The report provides an executive summary and selected financial facts for the company. The study concludes with a presentation of the company's off-balance-sheet accounting from 2012 to 2016.

Part II also contains the company's income statement accounts. The income statement contains information on the company's net sales. 2011 saw a rise in the company's net revenues from $65,225 to $108,249. The same statement reflects the operating income of the company. In 2011, the operating income of the company went from $18,385 to $33,785. In addition, the statement details the net profits of the company. 2011 saw an increase in the company's net profits from $4,527 to $8,283 (Gibson, 2010).

In addition, Part II contains the balance sheet report accounts. The balance sheet includes the present assets of the company. The company's current assets increased from $41,678 to $44,988 in 2011. The same report details the overall assets of the company. The company's Balance Sheet reveals that its total assets increased from $75,183 to $116,371 in 2011. The report details the current obligations of the organization. The company's current liabilities rose from $20,722 to $27,972 in 2011. The report also includes the overall liabilities of the company. In 2011, the overall liabilities of the company climbed from $27,392 to $39,756. The report's lower section contains the stockholders' equity accounts. 2011 saw an increase in stockholders' equity of $47,791 to $76,615. (Moyer, 2009).

In addition, Part II contains the statement of cash flows. The report details the operating operations' cash inflow sources and outflow destinations. The report details the cash inflows and outflows resulting from the financing transactions of the company.

The report details the cash inflows and outflows from the investing functions of the company. The 2011 cash flow statement reveals that the company's cash and cash equivalents decreased from $11,261 to $9,815 (Stolowy, 2006).

Several factors affect the financial success of Apple Inc. The sales data will impact the financial performance of the company. The company's financial performance will be shaped by its operating expenses. The company's financial performance will be influenced by its cost of sales. Demand for the firm's products and services influences the firm's financial performance (Besley, 2008).

The organization owns primary assets. Cash and cash equivalents, inventory, accounts receivable, short-term marketable securities, and deferred tax assets make up the current assets. In 2011, the company's current assets rose to $44,988 from $41,678. Long-term marketable securities are investments kept for more than a year. Long-term marketable securities for 2010 rose from $25,391 to $55,601. The property, plant, and equipment area of the balance sheet contains buildings, land, and production equipment. The company's property, plant, and equipment increased from $4,768 to $7,777 in the same year. Goodwill purchased intangible assets and other assets comprise the company's portfolio of total assets (Brigham, 2001).

Apple's Inc.'s management builds a robust internal control environment. The organization implements rules to safeguard and convey all financial information in a consistent and secure manner. The organization adopts production methods to decrease avoidable costs to acceptable levels. The company's tight internal control procedures stipulate that only authorized staff may access sensitive and essential processes. The organization employs internal auditors to ensure the production of business transaction reports has fewer errors. The corporation employs competent production workers, computer programmers, and administrative personnel to assure the integrity of all financial reporting. As a basis for monitoring and correcting all undesirable performance outcomes, the organization creates benchmarks. Additionally, the organization ensures that all high-value assets are recognized and accounted for (Ricchiute, 2006).

Ernst & Young LLP, the company's external auditor, declared in their audit report on Apple Inc.'s 2011 financial reports that the company's internal control conforms to the accounting industry's established internal control standards. The basis for the external auditors' audit opinion on Apple Inc.'s internal control processes is the Public Company Accounting Oversight Board's internal control benchmarks. As evidence, the unqualified opinion of external auditors on the company's financial statement report demonstrates that Apple Inc.'s internal control processes are robustly and effectively implemented to prevent errors and frauds.

According to the preceding explanation, Apple Inc. provides reliable financial reports. Apple Inc.'s 2011 financial report includes the balance sheet, income statement, and cash flow statistics. The research suggests that the company's internal control processes are legitimate and dependable. Indeed, the annual financial report suggests Apple Inc.'s 2011 performance was profitable.

References

Besley, S. (2008). Essentials of Financial Management. New York: Cengage Publishing.

Brigham, Edward (2001). Fundamentals of Financial Management. Harcourt, Sydney

Gibson, C. (2010). Analysis of financial statements. New York: Cengage Publishing.

Moyer, Robert (2009). Modern Financial Administration. New York: Cengage Publishing.

Ricchiute, D. (2006). Services of Auditing and Assurance. Academic Press in New York

Ricchiute, D. (2006). Services of Auditing and Assurance. Academic Press in New York

Stolowy, H. (2006). Financial Reporting and Accounting Thompson Press, located in Sydney

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Employee Engagement And The Company’s Progress Essay Help Writing

There are numerous perspectives on the company's success; some regard it as the consequence of shrewd management, while others believe that creative marketing was the turning point in the company's success. There are numerous variables that contribute to the quick development of entrepreneurship. However, people frequently ignore the importance of the staff's excitement; hence, employee engagement appears to have been neglected for quite some time, which is unfortunate because employee enthusiasm is frequently the driving force behind the working process. Analyzing a very vivid illustration of how employee involvement correlates with an increase in firm performance, Priyanka Anand (2011) demonstrates that ITC Maurya would never have achieved success without incorporating an employee's input into its balanced scorecard. The presented instance demonstrates conclusively that managers will not be able to improve the company's overall performance regardless of the organizational model they deploy if the employees are not invested in the company's concerns.

Employee engagement is a challenging endeavor. On the one hand, the diversity of motivational tactics is genuinely remarkable, as is the ability to adapt them to virtually any workplace or group of people (Hynes, 2012). On the other hand, despite the doubtful efficacy of these tactics, they require a substantial amount of time, effort, and money. Therefore, a lot of organizations appear to underestimate the importance of employee motivation and believe that employees do not have to be invested in the company's success (Mirvis, 2012); at first look, it may appear that simply following orders and completing tasks is sufficient. The case study done and authored by Priyanka Anand demonstrates, however, that employee involvement is frequently the determining factor in a company's progress. Anand demonstrates that employee engagement is a potent tool that, when combined with a shrewd leadership style and well-established corporate values, contributes to the creation of the ideal organizational environment. He does so by observing the changes in the company that has adopted the principles of an integrated employee engagement program and commenting on the effectiveness of these changes.

According to the case study, ITC Maurya is one of India's largest firms, with "nearly US $ 18 billion" in market capitalization (Anand, 2011, 83). Consequently, it can be regarded an essential component of the Indian market. Although Maurya has been providing its services for decades, the company's leaders credit the employee engagement program for the company's continued success. According to Anand, "in the hospitality industry, many workers view their jobs as stepping stones to more permanent positions, and the employee turnover rate ranges from 78.3% to 95.4%" (Anand, 2011, 85). Several parts of the employee engagement program of ITC Maurya can be outlined. Anand asserts that the organization has implemented the following performance appraisal measures to make the employee engagement program effective:

Process of evaluation; balanced scorecard; career review form; forecast for the future.

As Anand argues, the fact that the program is meticulously planned also contributes to its effectiveness by persuading the employees that the technique of assessment is not taken for granted by the management, but rather is an essential component of the performance evaluation of employees. Consequently, the corporation is able to increase the employees' view of their importance to the organization, boosting their motivation and engagement.

The greatest strength of the case study is that it describes and evaluates every part of the adopted employee engagement program. Thus, it is possible to provide an objective and comprehensive analysis of ITC Maurya's strategy, as well as a forecast of the company's future development. It is essential that Anand offers an overview of each approach, detailing its aim, effect, and durability. Another accomplishment of the study is that Anand was able to assess every significant change that occurred within the organization as a result of the implemented program, without excluding any significant alterations. Notably, along with employee engagement, Anand also identifies the phenomenon of consumer engagement (Anand, 3011, 86), hence enhancing the applicable strategy.

Sadly, the case study also contains faults; the one that is immediately apparent is that Anand provides minimal statistical data. In addition, despite being briefly stated, consumer interaction is never evaluated adequately. Anand never mentions by what percentage the company's revenue has increased as a result of the implemented initiatives.

The presented scenario demonstrates, however, that when properly implemented, an integrated employee engagement program helps not only to motivate the employees but also to identify and resolve key difficulties and disputes that arise during information distribution and processing. It would be incorrect to assert that the employee engagement program is a panacea for all corporate problems; however, the case study demonstrates that if the staff is not motivated to produce high-quality work, the employee engagement program should be viewed as the most effective method for involving the staff in the company's future.

Bibliography

Anand, P. (2011). Review of Management, 1(2), pp. 83–88, ITC Maurya case study on employee engagement and performance appraisal.

Hynes, G. E. (2012). Improving the interpersonal communication skills of employees: A qualitative study Business Communication Quarterly, 75(4), pp. 466–475, 1975.

Mirvis, P. (2012). Employee engagement and corporate social responsibility: transactional, relational, and developmental methods 93–117. California Management Review, 54(4).

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Financial Economics: Term Definition Essay Help Writing

Table of Contents
Introduction Introduction to the Financial System Financial Analysis of Investment Projects' Financial Planning Financial Architecture of the Company Executive synopsis References

Introduction

According to Bodie et al. (2008), finance is a scientific field that examines how to manage finite resources across time under unpredictable conditions. Good decision-making requires the specification of monetary particulars. Scarce resources contribute to the finances associated with an economy's costs. It is commonly believed that finance is the process of allocating economic resources in a setting that presents uncertain events (Drazen, 2000). Noting that the evaluation of monetary activities is crucial because it affects the conditions of trade is vital. Time, crucial details, and options must be emphasized for a complete understanding of proper financial management. Time represents the duration and patterns of its trading environment. Allocation of scarce resources is also subject to a number of hazards, which essentially entails that the amount of money in the long run or in the future is uncertain (Allen and Gale, 2004). Choices should also be familiar with the decision-making process, as both parties must reach a conclusion that will affect their financial activity. The importance of financial system knowledge in mitigating the risks associated with the future value of money must also be acknowledged.

Considered to be a long-term finance decision related with fixed assets and capital structure, the financial decisions of households and businesses are mostly based on criteria. It seeks to maximize the firm's value through investments in initiatives that will yield a net present value if calculations are performed using a suitable discount rate. Capital investment allocation is also comprised of decisions, particularly those that are crucial to allocating scarce resources among competing opportunities through the process known as capital budgeting. Decisions about the allocation of capital resources need the estimation of a project's worth.

Introduction to the Financial System

The financial system is considered as illustrative of the relationship between borrowers and savers. The financial system is based on the cycle of borrowing and saving in a bank or through other financial instruments.

In order to make an effective decision, the functional perspective identifies the pertinent factors to be considered. These functional perspectives included the analysis of the problem, the formulation of goals and objectives, the identification of alternatives and the development of a contingency plan, and an evaluation of the positive and negative features, all of which were essential.

As a result, creative designs, the use of computer and telecommunications technologies, and modern theories of finance prompted a swift and decisive response to the paradigm of global financial markets and institutions. Functional viewpoint is defined as the conceptual framework for evaluating diverse ideas in the institution's transformations resulting from financial intermediation. Using concrete examples to define the anticipated future set of institutional adjustments may highlight some management concerns regarding the production process for intermediaries as well as the regulatory procedure.

The term "financial innovation" refers to the development of technology that acts as a source of information, trade, and payment, as well as the introduction of new financial products and services. In addition, financial innovation shows contemporary forms of organization and financial markets. Financial innovation must be able to predict and reduce the costs and risks associated with providing an enhanced service that meets the specific needs of the financial system's participants in order to keep up with the world's expanding sectors.

Conversely, market rates are the current interest rates accessible on the market. There are market rates when there is a market for an investment, including the money market, bond market, stock market, and currency market, as well as retail financial institutions such as banks. How the aforementioned marketplaces connect to market rates is a complex detail. Consequently, investment decisions in these markets impact interest rates (Sullivan and Sheffrin, 2003).

Financial intermediaries are the institutions that often facilitate the transfer of funds between savers and borrowers. Therefore, savers are the ones who donate money to a financial institution, while financial institutions are the ones that give money to borrowers. These institutions may therefore include banks, building societies, pension funds, collective investment schemes, brokers, insurance firms, and credit unions (Siklos, 2001).

The primary purpose of these institutions is to facilitate the payment of goods and services with checks provided by the payers. Financial intermediaries are responsible for households' and enterprises' liquidity limitations, which occur when the liquidity available for a specific investment differs from an easy flow of accessible income, such as the mortgages that permit households to purchase cars now rather than in the future.

Evaluation of Financial Planning

Construction of a financial model is crucial for determining the profitability of a business. Financial planning describes the entire structure of the company's operations and examines the effectiveness of the system's financial tools.

Capital management is the efficient manipulation of a company's investments, which substantially entails making the right judgments for working capital. Capital management for a particular project is another word for short-term funding. It involves the management of the relationships between the firm's short-term assets and short-term obligations. Corporate finance is primarily concerned with the maximization of a company's value, and long-term capital investment decisions are improved by selecting positive investments that have implications for cost of capital and cash flows. Evidently, the objective of capital management is to ensure that the company can run and has sufficient cash flow to service its long-term debt, short-term debt maturing soon, and forthcoming operating needs (Sullivan and Sheffrin, 2003). The financial system provides economies of scale and economies of scope, which enable an individual to build a portfolio of assets. This would be more difficult if financial intermediaries did not exist to establish the terms for money transactions (Siklos, 2001).

In certain situations, financial issues are attributed to financial instruments, but in reality, it depends on how they are handled and managed by financial specialists. Emphasis is placed on the topic of giving people with a no-cost option. Thus, it is possible to purchase something for nothing and benefit if the price of the item increases. However, loans are deemed non-recourse and are safe if the price falls. The issue appears to be the manipulation of the financial side, not the financial instruments themselves. Consequently, the contemporary financial instrument has saved US banks who were unable to absorb their own liabilities and losses (Siklos, 2001).

Typically, financial planning entails a procedure that evaluates the client's position in all crucial areas in order to develop contingency plans and identify the most important success criteria.

Evaluation of Investing Projects

The majority of the capital budget relates to future fixed assets. The capital budget is comprised of several components of a company's operations. Budgeting capital is essential for monitoring the firm and ensuring that sufficient money are available to cover current expenses. Essentially, capital budgeting involves a precise strategy that covers all anticipated capital sources and uses.

Sensitivity analysis investigates the uncertainty of a mathematical model's output. It is crucial for investment projects to examine the generalizability of a study if it contains mathematical examples (Saltelli et al., 2000). According to Kennedy (2007), sensitivity analysis is essential for assuming objections, which is one of the ten commandments of applied econometrics.

Inflation's impact on capital budgeting has been connected to economic instability, particularly in the prices of products. Over the years, inflation has not been a significant macroeconomic issue, but it is viewed as a threat posed by rising interest rates (Ullman, 2006). Due to the unpredictability of the macroeconomy, it is vital to evaluate expectations through the future inflation rate, which should be considered while making such decisions for a project.

Some economic theories support the notion that interest rates should fluctuate in the same direction as the projected inflation rate. The quantity theory of money and the loanable funds theory disagree on the exact shift, but according to the loanable funds theory, the money demand should increase due to an increase in transaction demand. On the other hand, the availability of these money would decrease as excess spending decreased. Consequently, the actions necessitate a rise in monetary expenditures (Sullivan and Sheffrin, 2003).

Financial Architecture of the Company

The objective of capital decisions is business investment, which should be financed correctly. The riskiness of a company might influence the valuation element, thus management must be handled with care. The majority of the financing sources consist of the linkages between debt and equity. Debt financing a project may result in an obligation that must be serviced; hence, cash flow consequences are distinct from the success of the project. The company should attempt to match the asset being financed as closely as feasible, in terms of period of time and cash flows, with the financing mix (Kennedy, 2007). Finance should be evaluated based on its institutional context and the use of the right financial tools and processes, as it is utilized by various industries. To ensure the success of the company in the future, the firm's financial structure requires adequate financial planning and investment management.

If the financial structure is irrelevant in a perfect market, then the existence of such irrelevance may be attributable to these real-world factors. The Pecking Order Theory provides a perspective on financing decisions, stating that corporations eschew external financing in favor of internal and fresh equity financing, while they can participate in debt financing with lower interest rates (Saltelli et al., 2000).

Financial leverage is the degree to which a company uses fixed-income instruments as part of its capital structure. A company is considered to have a high degree of financial leverage if a large proportion of its capital structure consists of debt and preferred shares.

In order for a business to be successful, its financial structure is crucial. In addition to ensuring that the company's capital investments and other assets are doing well, it should be highlighted that these areas are the primary contributors to the company's success.

Executive synopsis

Financial economics also involves the development of models for determining the consequences of ideas. Consistently, the principles account for reasonable financial judgments. Researchers have examined the empirical assumptions behind experimental economics and experimental finance. Finance takes into account the unpredictability of time and necessitates a solid plan because future assumptions vary. The future appears to be a factor in comprehending finance, as it does not provide a clear indication of how long resources will endure and how efficient the current distribution of resources is. The viewpoints presented above highlight the specific financial factors that must be considered prior to making a decision. Before making a choice, managers should have a thorough understanding of a company's financial situation, since it indicates a number of potential future dangers.

The significance of finance necessitates extensive attention to the specifics of the formulation of decision-making principles. Defining the rationale for the distribution of resources in an economy or an organization would likely result in a description of the purpose of financial and monetary activity. In order to make a successful decision for a business in which finances play a large part, it is necessary to take into account certain assumptions. Money is a critical aspect for the performance of an organization and the economy as a whole. Leaders of an organization should know how to balance the activities requiring money. Since finance encompasses all elements of the economy, including organizations, it requires careful planning.

References

Financial Intermediaries and Markets," by F. Allen and D. Gale (2004) Financial Intermediaries and Markets", Econometrica, vol. 72, issue 4, pp. 1023-1061, 2004.

Bodie Z., Merton, R. & Cleeton, D. (2008). The second edition of "Financial Economics" was published by Prentice Hall.

Political Economy in Macroeconomics, by A. Drazen. The Princeton, New Jersey location of Princeton University Press.

Kennedy, P. (2007). The fifth edition of A Guide to Econometrics. The Blackwell Publishing Company.

A. Saltelli, K. Chan, and M. Scott (Editors) (2000). Sensitivity Analysis. Wiley's Probability and Statistics Series. John Wiley & Sons, New York.

Siklos, P. (2001). Canada's Monetary, Banking, and Financial Institutions in a Global Context. 35 McGraw-Hill Ryerson, Toronto.

A. Sullivan and S.M. Sheffrin (2003). Economics: Principles in action. 551 pages: Upper Saddle River, New Jersey 07458: Pearson Prentice Hall.

Making Robust Decisions, Trafford, D. G. Ullman, 2006.

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Strategic Human Resource Management’ Procedure Essay Help Writing

Introduction

Strategic Human Resource Management (SHRM) is a complex procedure that is continuously altering and which continues to evoke much disagreement regarding what promotes. Definitions range from an HR system that is tailored to the needs of a business process (Miles and Snow, 1984, p. 32) to a structured pattern of HR activities that enables a company to achieve its goals and objectives (Wright and McMahan, 1992, pg. 52). Although there is a small distinction between these two definitions, the implications are rather significant. In the first definition, human resource management is a reactive supervisory field that functions as a tool for strategy execution. In the second concept, human resource (HR) actions genuinely form and impact business policy.

Theoretically, SHRM serves as a bridge between the many forms of human resource management previously recognized in the strategic planning and operation of corporate organizations. It combines HR considerations with other physical, financial, and technological resources for setting goals and resolving complex organizational issues (Lengnick-Hall & Lengnick-Hall, 1988, pg. 467). SHRM stresses a set of ideas and practices that have the potential to produce a competent, knowledgeable, and capable workforce.

It is an approach to the strategic management of human resources that is consistent with the organization's objectives. It pertains to issues affecting human resources and broader concerns regarding the organization's constitution, values, policies, and matching resources to its future needs. A general definition of strategic human resource management is "all those activities that influence the behavior of individuals in their efforts to develop and implement the strategic requirements of the organization" (Schuler, 1992, pg. 365- 392). The second definition is "the model of planned human resource positioning and the activities designed to enable the forms to achieve their goals" (Wright and McMahan, 1992, pg. 295-320).

Discussion

HRM Theoretical Models

Critics have frequently argued as to whether the HRM domain includes a rational theoretical foundation for characterizing the HRM function inside an organization (Butler et al, 1991. pg. 12). Recently, SHRM researchers have constructed theoretical models that aim to elaborate on this topic. These theoretical models are crucial for comprehending the strategic and non-strategic aspects that determine a company's HR policies. They consist of:

The cybernetic model, the agency/transaction cost theory, the resource-based theory, and the power/resource dependence theories.

Perspective depending on the organization's assets

Since the inception of strategy as a subfield of management, strategists have primarily used a single framework to organize their study on strengths, weaknesses, opportunities, and threats (Barney, 1991, pg. 99-120). The resource-based perspective differs from the preceding strategy model in that it emphasizes the relationship between strategy and an organization's internal resources. Its perspective on competitive advantage is centered on the company, whereas the prior model emphasized the relationship between the industry and the environment. ( (Barney, 1991, pp. 99- 120).

Cybernetic model

This perspective examines control system organization. Different cybernetic views analyze the system differently. While some models emphasize closed systems that strive to develop methods to insulate the technological hub from the world, others regard the system as open to facilitate interaction with the exterior environment. Open systems suggest that firms can be represented as input, output, or throughput systems interacting with their surroundings. Katz & Kahn (1978, p. 35-50) say that organizations are comprised of patterned actions or individuals with a shared objective.

These activities can take the shape of a firm's energetic input (money, technology, etc.), the conversion of energies within the system and the product, and the output. Mowday (1983) was one of the HRM researchers who used the systems model to human resource management techniques; he provided strategies for reducing employee turnover by employing Thompson's (1967) model of organizational structure and control. Wright and Snell (1991) were able to use an open system to produce HRM policies that demonstrated that anticipated system inputs resulted in skills where a company may utilize a person.

Theory of agency and transaction costs

This idea has been utilized in the HRM function to investigate transactions, hence controlling employee behavior. This strategy to observing human resource problems is grounded in the fields of finance and economics and aims to internalize financial transactions in order to minimize the expenses associated with financial transactions. The concept identifies limited sanity and opportunism as the two fundamental human limitations that impede human interaction.

Bounded rationality refers to the notion that individuals are subject to information processing limitations, whereas opportunism refers to the fact that individuals will pursue their goals in a self-serving and devious manner. When these factors are joined with the environmental characteristics of uncertainty and diminishing numbers of trade linkages, transaction and agency costs decrease (Jensen & Meckling, 1976, pg. 321). Costs associated with overseeing, negotiating, evaluating, and executing exchanges between two parties contribute to the efficiency of transactions. This theory is often used in the literature on strategic management to examine diversification, internalization, and restructuring inside an organization.

Models of Resource Dependence and Power

An interesting non-strategic way to controlling HRM practices is the power dependence model. Here, the emphasis is mostly on the various power relationships between corporations. It posits that all businesses require a flow of resources to continue operations. The ability to exercise control over these valuable resources is a substantial source of power for a person or group. The approach changes SHRM's emphasis to being mechanistic. Other than strategic variables, political factors have the greatest impact on the development of the final product. In addition, the power and politics perspective highlights the HRM function's potential to expand its strategic partner role within the organization.

Downsizing

Downsizing, often known as layoff or redundancy, is the temporary or permanent suspension or termination of an individual or group of employees. Budros (1999, p. 70) describes it as the deliberate deployment of permanent workforce reduction to improve a company's performance. Downsizing is a strategic method for improving the performance of struggling businesses by decreasing costs and so reversing their performance decline (Mellahi & Wilkinson, 2004, pg. 245). Additionally, downsizing permits a corporation to concentrate on its core strengths and outsource non-essential activities.

While there are obvious short-term benefits to this strategy, downsizing may have long-term detrimental repercussions on an organization's success (Di Frances, 2002, p. 49). Executives of the company cite the restructuring of the corporation, the economic downturn, and the reengineering of the company as the primary reasons for the downsizing of the workforce. The majority of proponents of the practice argue that it increases earnings without harming production and is a vital instrument for preventing bankruptcy. According to studies, downsizing does enhance profit margins, but only temporarily.

Effects of Reduction

Oftentimes, downsizing falls short of its intended goals. Those who survive the process, including both top management and low-level staff, will feel its impacts. The survivors lose their sense of teamwork and perform poorly due to high levels of stress (Jacobs, 2000, Para. 2). Therefore, it has a negative impact on the employee-organization, as survivors live in constant fear of losing their jobs. In addition, they are required to exert greater effort at work, resulting in tiredness. There is a direct correlation between downsizing and the health of the remaining personnel. After a downsizing operation, there is a significant increase in the frequency of sick days. Among the negative consequences of layoffs are:

The subordinate staff's low morale and lack of confidence in management. Loss of an experienced and knowledgeable employee pool. Due to the absence of mentors to guide current and new employees, there is a loss of corporate customs. After repeated layoffs in the early 1990s, IBM, for instance, abandoned its lifetime employment practices (Mills and Friesen, 1996, pg. 1) The erosion of traditional customer service and consumer relationships. The company's reputation suffers damage.

Legal dangers

Most downsizing activities are in violation of the employment contract, and such operations are typically based on an employer-employee agreement. It is unlawful to take a job-related action against an employee based on their gender, age, color, religion, or participation in other legally protected groups. The downsizing of operations including these parts may result in legal proceedings leading to enormous monetary settlements. Tort claims – a tort is an accusation of doing a wrong that may cause the victim serious harm. An organization can be sued for intentionally causing emotional anguish, slander, interference with contractual obligations, and other grounds under the Tort Act if it engages in downsizing.

Numerous businesses have effectively implemented layoffs. Due to a reduction in revenue, Taiwan Semiconductor Manufacturing Company lay off three percent of its 23,000 employees during the first quarter of 2009. This resulted in an 80% increase in revenue, and the terminated employees were subsequently rehired.

As a means of mitigating the effects of the recession, companies have adopted downsizing. Starbucks, Nokia, and a British betting company were severely affected by the economic downturn. Ladbrokes was forced to close its call center in Aintree. Despite the impact of the recession on some industries, others were thriving as a result of solid SHRM practices. Such sectors include video game companies like Nintendo and Xbox 360 and pharmaceutical corporations like Bristol-Myers and GlaxoSmithKline (Keane, 2008, Paragraph 4). (Thalie Y., 2009, Para. 4).

Methods for a successful downsizing

In certain circumstances, corporations must reduce their workforce in order to continue operations. Taking into account the potential implications of downsizing, the procedure must be meticulously designed to assure success. Typically, downsizing is a last resort. Before downsizing, the first step should be to revise the leave arrangement for all employees. The employee leave days as well as any additional benefits related with leaves should be evaluated. This would aid a company in avoiding potential liabilities related with leaves (Mellahi &Wilkinson, 2004).

The second phase involves adjusting variable-pay compensation packages. The human resource manager should assist employees in comprehending the significance of this action. The third phase is to identify activities and resources that do not offer value. Non-value-added activities can be discontinued, and non-value-added resources can be reassigned to high-performing sectors. Before implementing a downsizing plan, it is necessary to assess the emotional engagement of employees. Last In First Out (LIFO) is a criterion whereby the last employees to enter an organization are the first to be let go. Chronic absenteeism is an additional criterion for identifying employees for layoff. Employees who are frequently absent without justification may be selected for layoff. The most effective shrinking criterion is performance management system. Such a framework would aid in comprehending the contribution of each individual to an organization.

The majority of enterprises that downsized during the recession are attempting to return to their pre-recession employment levels. In fact, the majority of businesses intend to accomplish this by 2012 (Pace, 2010, par 1). As the economic situation improves, organizations shift from cost-cutting to growth-oriented tactics. As a result of losing brilliant individuals as a result of ineffective downsizing, organizations with ineffective downsizing are unable to achieve rapid development.

Conclusion

Due of the negative consequences of downsizing, a company must seek to avoid the practice. Alternately, a corporation may implement some of the following HR management practices.

Employing personnel in departments other than those currently staffed.

However, this will necessitate that Human Resource managers efficiently manage careers so that they are aware of open openings. In order for employees to be prepared for the roles to which they will be assigned, it is necessary to conduct career review and development. The formation of SHRM models by businesses can avoid the necessity for employee reductions. These include reducing salary and negotiating placements for some of its employees with other businesses. Additionally, the organization might create a policy aimed at minimizing working hours. The objective of this method is to lower worker compensation. Job sharing between two or more individuals is also an option. Attrition occurs when an organization waits for employees to retire or depart freely. The corporation can then save money by not filling these roles. In addition, they should offer early retirement and other incentives to willing staff members based on the nature of the job and the age of the staff members.

Bibliography

1991 publication by J.B. Barney titled Firm Resources and Sustained Competitive Advantage.

Journal of Management, volume 17, number 1, pages 99–120.

A Conceptual Framework for Analyzing Why Organizations Downsize, Budros, A. (1999). Journal of Organization Science, vol. 10, no. 1, pp. 69-82, January-February 1999.

Butler, J. E., G. R. Ferris, and N. Napier, Strategy and Human Resources Management (1991). Cincinnati's South-Western Publishing company.

Ten reasons why your organization should not downsize, Di Frances, J. (2002). Effective Meetings, 51(9), 49-51. The ABI/INFORM Global database was retrieved. (Document ID: 148469421).

Minding the Muse: The Impact of Downsizing on Corporate Creativity, by P. K. Jacobs. Web.

M. Jensen and W. Meckling published Theory of the firm: Managerial behavior, agency costs, and ownership structure in 1976. Financial Economics, 3: 305-360.

Katz and Kahn published The Social Psychology of Organizations in 1978. 1978. John Willey & Sons Company

The "Recession-Proof" Gaming Industry Ignores the Stock Market, Keane, M. (2008). Web.

Human Resource Management in the Knowledge Economy: New Challenges, New Roles, and New Opportunities.

Capabilities. San Francisco: Berret-Koehler Publishers, Inc., 2003.

K. Mellahi and A. Wilkinson (2004) published Downsizing and Innovation Output: A Literature Review and Research Proposals. British Academy of Management Paper, 2004.

Organizational strategy, structure, and process, by R. E. Miles and C. C. Snow, 1984. Stanford, California: Stanford University Press, 2003.

Broken Promises: An Unconventional Perspective on What Went Wrong at IBM. Boston, Massachusetts's Harvard Business School Press.

Pace, A. (2010). By 2012, more than half of large, reduced U.S. companies intend to rebuild their workforce to pre-recession levels. Web.

Strategic Performance Measurement and Management in Multinational Corporations, R. S. Schuler, 1992. Human Resource Management, Vol. 30, Issue 3, Pg. 365- 392.

Y. Thalie (2009). The Pharmaceutical Industry During the Recession of 2009. Web.

Wright, P.M., and G.C. McMahan, Theoretical Perspectives for Strategic Human Resource Management, published in 1992. Journal of Management, 18, 47-59 & 295-320.

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BHP Billiton Firm’s Environmental Management System Essay Help Writing

Federal and state legislative requirements are necessary for ISO 14001 certification.

The environmental management system of BHP Billiton is evaluated for this assignment.

Australia has generally embraced AS/NZS ISO 14001, the International Standard for Environmental Management Systems (EMS). Despite the fact that this standard is not mandated for any organization, a number of Australian businesses and government bodies are implementing EMS. There are various objectives for implementing the EMS. Some companies embrace the system because they believe EMS will increase their worldwide commercial opportunities. Some other companies view EMS as a reasonable means of controlling the environmental impacts of their business or activities, while a few others view it as a means of achieving environmental performance excellence. The International Organization for Standardization (ISO) defines an environmental management system as "the part of the overall management system that includes organizational structure, planning activities, responsibilities, practices, procedures, and resources for developing, implementing, achieving, reviewing, and maintaining the environmental policy" (Standards Australia, 1996).

Regarding BHP Billiton's environmental management system, federal and state legislation prescribe numerous legislative and other requirements for EMS implementation. BHP Billiton must guarantee that

It has knowledge of the environmental legislative requirements applicable to the organization; it has established the measures and mechanisms to ensure that the organization can comply with the legislative and other requirements; it has the mechanisms in place to measure and monitor any deviation from compliance, and it has implemented corrective mechanisms to address the deviations; and it has fully functional reporting mechanisms in place when BHP Billiton is required to do so.

BHP Billiton must comply with a variety of procedures, documentation, and/or records mandated by federal and state law. These are some of the procedures:

recognizing environmental factors and estimating their relative importance identifying, maintaining, and disposing of environmental records Raising awareness of environmental issues Managing documents in accordance with the standard Identifying, storing, and destroying environmental records

Documentation pertaining to the formulation of an environmental policy, objectives, and targets, the development of environmental programs, and the preparation of the EMS handbook and procedures for operational control and emergency plans. Additionally, the requirements stipulate the maintenance of a number of records relevant to the implementation of EMS. In conformity with these standards, BHP Billiton has formulated a comprehensive environmental policy to be followed by all of its subsidiaries, associates, and subcontractors operating in diverse global regions. In addition, BHP Billiton disseminates its environmental policies to all of its affiliates and subcontractors so that they can adhere to the necessary standards successfully.

Stakeholders and Stakeholder Requirements

The parties involved and their needs are listed below:

Government

Requirements

Maintaining a pollutant-free environment and preserving the environment Conformity with international environmental norms

Shareholders

Requirements

Increased investment returns Maintain a strong reputation in the market for the organization.

Organizations

Requirements

Offer the chance for an environmentally friendly environment Respecting the social obligation to the community

Vendors

Requirements

Ensuring a product and environment free of pollutants Order sufficiency and fast payment

Employees

Requirements

Fair employment conditions ensuring professional advancement

Methods and Sub-Methods

Land Conservation

Subprocedures

Controlling the mining terrain Protecting natural environments

Bio-diversity

Subprocedures

Respect the local biodiversity plan and provide accountable locations

Solid and non-solid waste

Subprocedures

Efficient waste management programmes Concern about the natural environments surrounding mining sites

Closure and Areas under Administration

Subprocedures

Programmes for the closure of decommissioned mines Rehabilitation programmes

Water Management

Subprocedures

Lessening of Emissions and Waste Reuse and Recycling of Water Waste

Principal Methods and Environmental Factors

Land Conservation

Selection of suitable mining sites Concern about environments close to mining sites Controlling the mining terrain Aspects of mining employees' safety Efficient waste management programmes

Closure and Areas under Administration

Environmental Aspects Mineral and non-mineral waste management Management of air and water pollution Programmes for the closure of decommissioned mines Programmes for the remediation of decommissioned mines Caring for natural environments next to abandoned mines

Environmental Effects of the Principal Operations

Land Conservation

Environmental Impacts

Land Destruction Land fragmentation Soil disturbance Soil contamination Soil erosion

Closure and administered regions

Environmental Impacts

Waste rock disposal Surface facilities that have been abandoned Destabilization of highways and water sources Bioaccumulation throughout the food web Health problems caused by toxic waste

Goals for Environmental Factors

Aspects of the Environment Objectives

Selection of suitable mining sites To identify mining locations that may not have a negative impact on the environment.

Concern about environments close to mining sites To identify and prevent potential health and safety threats to habitats in the vicinity of mining sites.

Controlling the mining terrain To detect and avoid potential risks associated with land fragmentation and soil disturbance

Protection of mining employees To implement safety programs and educate mine personnel on the need of adopting safety measures while working

Effective waste management plans To develop and implement effective waste management programmes to prevent environmental degradation.

Mineral and non-mineral waste management To establish separate waste management programmes to handle mineral and non-mineral wastes in a manner that ensures total environmental protection.

Waste water and emission management To create programs to prevent the polluting of rivers and other water sources.

Programmes for the closure of decommissioned mines To develop appropriate mine closure programmes

Rehabilitation of decommissioned mines To establish successful rehabilitation programs for decommissioned mines to prevent their abandonment.

Taking care of natural areas next to abandoned mines. To design programs to ensure the health of the natural habitats adjacent to abandoned mines.

Environmental Targets

The environmental aims regarding the aforementioned environmental objectives are:

Controlling and mitigating the environmental damage caused by mining operations Ensuring the efficient and regular disposal of mineral and non-mineral wastes Implementing initiatives to reduce land degradation Implementing measures to prevent water source damage Strategically determining the location of mines in order to limit the negative environmental impact on natural environments Implementing essential safety measures safeguarding mine employees Developing safety rules and procedures and guaranteeing their rigorous implementation. Ensuring the closure of decommissioned mines Preventing potential environmental harm caused by abandoned mining sites preventing groundwater table alterations

Environmental Measures

Managing the environmental impact of mining operations

identifying suitable mining areas Examining the environmental effects of potential mining locations

ensuring efficient and frequent garbage disposal

Building appropriate waste disposal facilities Periodic refuse disposal

Implementing initiatives to reduce land degradation

identifying and preventing possible land fragmentation damages Implementing measures to prevent soil erosion

Implementing policies to prevent water source degradation

identifying and preventing potential water resource harm Implementing measures to avoid river water contamination

Strategically determining the location of mines to prevent negative effects on natural ecosystems

Evaluation of the suitability of mining locations Evaluating the effect on natural habitats in the vicinity of proposed mining locations

Implementing safety measures for mining personnel

Examining the mining employee safety aspects Training employees in safety procedures

Developing security policies and processes

Developing environmental protection objectives Formulating policies to accomplish environmental protection objectives

ensuring appropriate mine closure

The elimination of waste rocks and other material from utilized areas. Planification of mine reclamation around abandoned mines.

Preventing potential environmental harm caused by abandoned mining sites

Planning for remediation of decommissioned mine sites Removing the equipment and other stuff from an abandoned site.

preventing groundwater table alterations

Examining the effects of mining on the water table Monitoring changes to groundwater tables on a regular basis

Methods for Monitoring the Progression of Environmental Action Implementation

The initial step in resolving environmental problems is to become aware of them. Although corporations are not required to tackle environmental concerns in a formal manner, regularly planned meetings may be a useful method for monitoring the execution of environmental activities. There are numerous techniques used by organizations to regulate and track the success of environmental efforts. Important is that organizations establish an effective way for accomplishing environmental goals through the implementation of appropriate environmental initiatives. Since environmental obligations are prone to change over time, organizations must modify and enhance their knowledge and experience regarding environmental protection and related challenges. Depending on the modifications to their environmental obligations, organizations must also adjust their procedures for monitoring the execution of environmental activities.

Among the useful approaches for measuring the progress of environmental measures are:

All environmental policies and procedures should be subject to a periodic audit by the respective organizations. In their annual reports, they may also detail the implementation of environmental activities and the potential for further enhancements. Setting Key Performance Indicators (KPIs) for all proposed environmental activities and analyzing the data to monitor the implementation's progress is another way for ensuring the monitoring of the progress of environmental actions by organizations. Identifying and setting precise targets and goals and reviewing operational rules and procedures to achieve the intended results is one of the successful strategies for monitoring the implementation's progress. To collect feedback on the implementation in order to expedite action in the necessary areas, the organizations may conduct frequent surveys of various stakeholders.

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Economic Development In The Pacific Northwest Essay Help Writing

Table of Contents
Introduction History Economic Growth in the Pacific Northwest Economic Growth in Washington Conclusion: Economic Development in Oregon Works Cited

Abstract

Over many decades, the Pacific Northwest has been ruled by several areas and countries, which have a negative effect on its economy. However, shortly after the end of the conflict with the United Kingdom, the region was able to gradually improve its economy, and the mid-1800s and the end of the century were marked by a stable economy with a steady growth rate. The Pacific Northwest eventually emerged as a well-structured, robust, and mature economy.

Introduction

The Pacific Northwest is a vast region in the northwest of the United States. The Pacific Northwest consists primarily of Washington and Oregon, although southwestern British Columbia is often included.

The word Pacific Northwest has a variety of definitions that share certain aspects. However, the Pacific Northwest should not be confused with Canada's Northwest Territories. (Melander 6)

In the west, the region is surrounded by the Pacific Ocean. The northern and southern limits of this region may be found in the subarctic region of British Columbia and the temperate region of northern California, respectively. In addition, the Northwest is a distinct bioregion due to the uniformity of its soil, temperature, climate, and resident flora and fauna. The green political movement is well-known throughout the region. Deliberate environment-friendly services are prominent. In addition, the Pacific Northwest is renowned as an attraction for a variety of spiritual and intellectual faith practices.

History

For more than a millennium, the Pacific Northwest was ruled by indigenous Americans. Approximately 15,000 years prior to the arrival of Europeans, Paleo-Indians were the first to discover and settle the area. During this time period, a huge number of academics viewed the Pacific Coast as the most significant route from Northeast Asia to North America. (Melander 11)

The Indian ethnic groups that inhabited this region in the past were among the most skilled and well-trained fishermen in history due to the incredible abundance of fish in this region. A large number of adherents and descendants of these arrogant tribes continue to maintain their civilizing rituals and manner of life in the present day.

Russia's colonial government dispatched Vitus Bering to the Pacific Northwest in the year 1740. By the end of 1700, Russian settlers had established a significant number of settlements and people. Over time, these businesses expanded to the southern region of California. In 1977, Juan Pérez was deployed to the Pacific Northwest. In 1776, Captain James Cook visited Nootka Sound. In 1779, Ignacio de Arteaga traveled to the Pacific Northwest with a company. In 1790, three ships under the leadership of Francisco de Eliza were dispatched to Nootka Sound. These ships were dispatched by Spain to establish a base in Nootka. After establishing a station there, Francisco de Eliza dispatched many groups to discover and explore the region. Jacinto Caamao Moraleja, another Spanish explorer, reached Nootka Sound in 1792. Later in the same year, George Vancouver was granted a variety of Spanish-held territories in the Pacific Northwest, resulting in the creation of an intricate coastline. (Melander 13)

Towards the end of the eighteenth century and the beginning of the nineteenth century, Spain asserts its first official claims to the territory. After a while, Russia made similar claims, followed by George Vancouver's allegations of the same nature. Following this, Spain forfeits its claim.

After Lewis and Clark's expedition to the Pacific Northwest with their company, the United States made the same claim to that region. From 1810 through 1840, both the United States and Great Britain laid claim to the land comprising Western Montana, Oregon, Washington (current) and Idaho. Americans referred to this territory as Oregon Country, while British referred to it as Columbia District. (Schwantes 91)

As a result, American settlement in the region flourished and James Polk was elected president. Late in 1846, with the conclusion of the war with the United Kingdom, the disagreement over the Oregon line was resolved, and this agreement became known as the Oregon Boundary Treaty. (Melander 13)

Economic Growth in the Pacific Northwest

The Pacific Northwest's annual economic production is $250 billion, making it the tenth largest economy in the world. Since the beginning of the eighteenth century, the fishing industry, mills, especially timber and paper mills, and farming have all increased in the region.

The Pacific Northwest gives the chance to live in an undamaged and pollution-free environment. This location's natural beauty functions as a magnet for businesspeople and is a magnet for these businesspeople to establish themselves in the middle of natural splendor. (Egan)

Furs, the railway system, agriculture, mining, timber, fish, and the conservation movement all contributed significantly to the economic development of the Pacific Northwest in the late nineteenth century. (Melander 49)

From 1850 to 1880, the contribution of Lumber Mills to the economic growth of the region increases. The railroad business remains prosperous from 1883 to 1929. During this time period, a number of railroad links were created. In 1883, the Northern Pacific Railroad Connection was finished, and in 1885, the South end of Seattle was put to use. After the development of the Union Pacific, Great Northern, Chicago, Milwaukee, St. Paul, Northern Pacific, and Pacific railroads, Spokane became a major transit hub for rail hubs. 1910 Asian Crew Constructing Log Loading Station also contributed significantly to economic progress. In the same year, steam-powered donkeys for logging came into existence. (Schwantes 184)

Due to the abundant and inexpensive hydroelectric electricity, aluminum smelting was a vital component of the region's economy. These smelters produced more than one-third of the aluminum used by the United States at the end of World War II. By the end of the nineteenth century, the once-thriving aluminum industry has declined to the point that it is essentially non-functional and obsolete.

Positive characteristics of an advanced economy. The region's economic development provides a relatively stable quality of life that is not overly taxing on the inhabitants. As a result of the expansion of the tourism business, with its well-organized tours and recreational opportunities, non-traditional sources of revenue have emerged. Leavenworth and Nelson were the most popular most popular tour locations. Conservation has also facilitated and assisted an abundance of employment. The thriving economy also contributes to the growth of numerous businesses, such as agriculture, mining, lumber, and fishing. (Melander 53)

There are negative facets to a sophisticated economy. With the growth of the economy, a new source of evil emerged: the expanding gap between the wealthy and the disadvantaged. This distinction between the rich and the disadvantaged grows as the economy develops. (Melander 54)

Development of the Economy in Washington

Financial institutions, the services sector, tourism, lumbering, agriculture, and manufacturing, which includes, but is not limited to, wood products, aerospace equipment, food processing, and shipbuilding, were fundamental to the development of Washington's economy during the middle of the nineteenth century. (Aderkas 15)

The government sector, the services sector, the wood and lumber products sector, the trade sector, the food processing industry, and the metals and machines sector are experiencing employment growth. (Egan)

Despite the fact that Washington's economy is expanding, the middle of the nineteenth century was marked by a number of ups and downs. These ups and downs continue until the end of the nineteenth century after which the economy gets a stable growth rate. (Aderkas 21)

During the middle of the nineteenth century, livestock (including dairy products, cattle, and agricultural products), crops, the manufacturing industry, the fishing industry, the mining business, and the services sector played a crucial part in the development of Washington's economy.

The company commanded by David Thompson established a fur trading post in Washington near the confluence of the Little Spokane and the Spokane rivers. Spokane House was the name of this British North West Company outpost. From 1810 to 1826, it was functional and considered the center of the fur trade. (Madison 101)

In 1883, gold and silver were discovered in the Interior Northwest. This discovery prompted a rapid influx of prospectors into the region. As a result of this finding, mining became a prominent corporate incentive and opportunity in Washington. It provided a firm that was well-liked and "accepted by all," as well as a starting point for newcomers to the industry. (Shwantes 359)

At the end of the 1800s, the mining industry declined as agriculture and timber industries flourished. Simultaneously, the region became renowned for its dairy products and timber and fruit products. (Aderkas 41)

Economic Development in Oregon

Oregon's plentiful natural resources are one of the primary reasons that have sustained and developed the region's economy over time. Wooded areas and forests, ranches, agriculture, tourism, and retail trade are significant economic pillars. (Macmillan 153)

Oregon's economy illustrates the nationwide recession that began at the turn of the nineteenth century. The climatic and seasonal unemployment rate was at an all-time low at that period. Oregon attempted to implement the transition from a reserve-based economy to a more diverse manufacturing and marketing economy, with an emphasis on advancing technology. (Melander 86)

Oregon's greenhouse products, nursery products, wine grapes, all sorts of grass seeds, all types of grass pears, cattle and calves, Christmas trees (to a certain extent), all types of potatoes, all types of hay, and milk are vital to the state's economy.

A high employment rate is also essential to the region's economic success. Wholesalers of durable goods, food services and, to a lesser extent, drinking places, general grocery stores, administrative services, nursing facilities, support services, facility of residential care, construction companies, contractors, hospitals, miscellaneous health care services, computers manufacturing, and manufacturing of other electronic items are the industries in Oregon that provide the most employment in the mid-1800s (Egan)

Due to the Missoula Floods, which left deposits from Lake Missoula on the land of this region, Oregon's soil is exceptionally rich. Due to this soil's fertility, the region is considered agriculturally prosperous. Oregon is one of the four major hazelnut-growing regions for the same reason. Oregon produces around 95% of the hazelnuts in the United States. Due to local similarities in climate and soil, the grapes planted in Oregon are typically of the same variety as those planted in French locations. Both dry land and irrigated wheat are cultivated in the region, primarily in the Pendleton district. The farmers of the region also produce dairy products, eggs, and poultry. Due to the fertile soil and vast forests, it is one of the leading timber-producing regions in the world. (Macdonalds 94)

Oregon's salmon fishing industry is also among the best in the world. In addition, the tourism department contributed significantly to the economy. The beautiful lakes, waterfalls, evergreen mountain forests, and stunning coastline of Oregon are a year-round tourist attraction.

Conclusion

At the beginning of the 1800s, a number of reasons – including the war with the United Kingdom and the subsequent claims of numerous governments on the Pacific Northwest – caused significant economic swings in this region. At the beginning of the nineteenth century, the economy was declining, but by the middle of the century, it began to improve, and by the end of the century, it had achieved a constant growth rate. (Egan)

Sources Cited

Aderkas, Elizabeth. Osprey Publishing, American Indians of the Pacific Northwest (Men-at-Arms), 2005.

Egan, Timothy. The New York Times online.

The Agony of an American Wilderness: Loggers, Environmentalists, and the Struggle for Control of a Forgotten Forest, by Samuel A. Macdonald. 2005, Rowman and Littlefield Publishers, Inc.

Melander, Christina. The Ultimate Winery Guide to the Pacific Northwest: Oregon, Washington, and British Columbia. 2007, Chronicle Books

An Interpretive History of the Pacific Northwest by Carlos A. Schwantes. The University of Nebraska Press, Lincoln, Nebraska.

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