How Tesco Uses Workforce Planning & Proactive Recruitment Free Essay Help

Introduction

Recruitment and selection have become fundamentally essential concerns for worldwide employers due in large part to significant transformations in emerging technology, the nature of the labor market, sources of recruitment, job expectations, modern work ethic, and market competitiveness, among other things (White & Escobar, 2008). Increased specialization and the advent of multinational companies have exacerbated the situation, increasing the necessity for employers to acquire the best people on the market in order to maintain a competitive advantage. Employers must create successful recruitment, selection, and retention strategies if they are to effectively compete with rivals for qualified candidates.

While many organizations have realized that productivity and efficiency are proportional to the quality of their existing workforce, a significant number continue to struggle with recruiting and selecting employees who can be trusted to align their human capital capacity with essential business objectives and outcomes.

There is compelling evidence that an average organization's employee cost in terms of remuneration and other related benefits exceeds 25 percent of its generated revenue (Searle, 2003). However, the value of this enormous cost may never be justified, at least in terms of productivity, if the organization does not get recruitment and selection right. Many organizations have devised and used a variety of recruitment and selection processes in an effort to create an atmosphere conducive to sourcing and recruiting the best people on the market in order to combat this predicament. The goal of this article is to explain how workforce planning and proactive recruitment and selection methods implemented by Tesco have helped to tackle the persistent problem of finding the right individuals for the firm.

Explanation of Terms

Bernthal (n.d.) explains that "…recruitment is the process of identifying and attracting a group of potential candidates from within and outside the organization to evaluate for employment" (p. 1). The selection process, on the other hand, typically comprises gathering, identifying, and analyzing crucial information regarding candidates' academic and professional credentials and skills in relation to the stated jobs. According to Bernthal, organizations invest an average of 33 percent of their HR expenditure to recruitment, while approximately 18 percent is allocated to selection. As a result of the expenditures associated with conducting these processes, it is of utmost importance for the firm to select candidates with the appropriate skills and talents.

Workforce planning is the continuous evaluation of an organization's anticipated human capital needs in terms of numbers, competencies, skills, and locations (Tesco, n.d.). This approach is crucial because it provides businesses with the ability to plan how stated needs can be optimally satisfied through recruitment, selection, and training procedures.

Tesco is no exception to the trend of adapting standard recruitment processes to the requirements of individual positions, as many firms do. In recent years, however, Tesco has engaged in what can be referred to as proactive recruitment, which entails recognizing that searches are expensive for the organization because they require significant resources and, as such, must be conducted in an active manner that reflects the mission and identity of the organization, including providing information on opportunities for career advancement, diversity commitment, mentoring, and succession planning (Searle, 2003).

A Brief Summary of Tesco

Tesco is the largest private sector employer in the United Kingdom (UK) and the market leader in the grocery sector based on sales and market share. The corporation has more than 360,000 employees worldwide (Tesco, n.d.). Tesco has expanded its product offerings from food and grocery commerce to include clothes, consumer electronics, internet and telecommunications, and financial services. The company's business plan is comprised of four main components: core UK operations, retailing, international expansion, and non-food businesses. Tesco operates in 12 countries outside the United Kingdom, including Thailand, Japan, the United States, China, and Turkey.

The organization has an ongoing demand for human capital across a vast spectrum of store-based and non-store employment. In particular, Tesco is always seeking cashiers, stock handlers, experts such as pharmacists and bakers, supervisors, stock managers, logisticians, marketers, attorneys, human resource professionals, property managers, and information technology specialists, among other job categories. Therefore, it is imperative to design and sustain successful and robust recruitment and selection procedures.

Workforce Planning and Proactive Recruitment and Selection Methodologies at Tesco

Tesco's overarching purpose in human resource management is to guarantee that all jobs work cohesively to advance its business goals and outcomes. The organization must ensure that "…it has the appropriate number of people in the appropriate positions at the appropriate time" (Tesco, n.d. p. 145). Tesco has built a disciplined recruitment and selection procedure to attract qualified applicants for managerial, operational, and frontline positions, an accomplishment that has eluded many firms. The purpose of this part is to analyze critically the company's use of workforce planning and proactive recruitment and selection processes to attract the appropriate types of employees.

Personnel Planning

Tesco's human resource department has recognized the need to plan ahead in order to fulfill the company's human resource needs, primarily due to the company's continual growth and consequent need to recruit on a regular basis for both its food and non-food core sectors. Due to its UK and international expansion strategy, personnel turnover, promotions, and retirements, as well as changes in its processes and technologies, the company has the ability to create a variety of job roles.

The organization uses a workforce planning table to determine the anticipated demand for new workers in both managerial and non-management positions in order to effectively fill growing openings (Tesco, n.d.). During the 2008/2009 fiscal year, for instance, the corporation estimated that it required approximately 4,000 new managers to effectively implement its growth and expansion goals. Tesco's annual personnel planning process begins in the final week of February and includes quarterly assessments and revisions in May, August, and November.

Literature indicates that there is no single preferred model or theoretical framework for labor planning, nor is it a mechanical or static development (Searle, 2003). Fundamentally, it entails examining the current employees of an organization and then expanding that analysis to determine the future skills and competences that are unquestionably necessary to deliver new and enhanced services, so enabling the corporation in achieving its business objectives. According to Hawley and Taylor (2006), workforce planning is predicated on the idea that an organization can be staffed more effectively if it acquires the ability to foresee its human resource demands and the actual amount of human capital that is or will be available.

Workforce planning has helped Tesco to not only alter worker levels and execute recruiting as necessary, but also provides the corporation with sufficient time and flexibility to efficiently satisfy its demands for people, such as expansion and maintaining customer service standards (Tesco, n.d.). This indicates that workforce planning facilitates the alignment of Tesco's human capital requirements with crucial business outcomes, a fundamental indicator of efficient human resource management.

Human resource theorists concur that workforce planning not only provides a framework for organizations to comprehend the skills and capabilities required for the future, but also aids in the management of employment costs by anticipating changes and ensures that employees receive adequate training and development (Hawley & Taylor, 2006). In addition, workforce planning enables firms to improve services by tying together core business strategy and people plans, without mentioning that it also facilitates the successful implementation of diversity programs.

Tesco utilizes the Talent Screener program to combat the issue of integrating unsuitable individuals in its human capital pool as part of its workforce planning initiative, particularly pertaining to graduate recruitment. According to Chubb (2007), the program examines the applicants' fitness for a given post and rates them on a traffic-light scale, with red representing 'not suited' and green representing 'well suited.' This categorization reduces time wasted in subsequent recruitment and selection procedures by matching individuals' qualifications to the requirements of posted positions or future job opportunities.

According to Angela, the company's graduate recruiting manager, "…the color rating helped Tesco identify more precisely what it was looking for and what it was not" (Chubb, 2007 p. 12). In addition, the color rating persuaded Tesco to keep individuals who, while somewhat unsuitable for the post applied for, could fit elsewhere according to the labor plan. For instance, a candidate with a rating of amber may be invited to an interview for a different position that is a good fit for his or her qualifications and talents. This not only ensures that the organization has the proper number of individuals with the right skills, but it also saves a substantial amount of money on advertising costs.

Proactive Selection and Recruitment Procedures

Tesco understands that the primary goal of recruitment is to attract the most productive and valuable people for the role. Despite the fact that there are numerous suitable candidates on the market, as has already been established, many organizations struggle to fill open positions and consistently hire the incorrect individuals (Searle, 2003).

Having recognized this difficulty, Tesco has established proactive techniques for the recruitment of essential personnel, such as managers and other highly-ranked professionals, by "selling themselves" in a variety of ways to possible applicants. Additionally, the corporation uses the internet, intranet, newspapers, and television to promote the professional progression options available to Tesco employees. However, this is only done when the corporation lacks an employee with the necessary skills and abilities for the role (Tesco, n.d.).

In the aforementioned background, Tesco's emphasis on internal recruitment and selection processes is evident. Its "talent planning" strategy emphasizes the essential importance of encouraging people to advance their careers inside the organization, and hence encourages staff members to advance through the ranks. Specifically, the organization has developed an annual evaluation system in which managers cultivate the technical skills, capabilities, and behaviors required for certain positions, and existing employees are encouraged to apply based on their qualities (Tesco, n.d.). This arrangement is proactive since it not only helps the corporation achieve its business objectives, but also helps people realize their personal and professional aspirations.

According to Hawley and Taylor (2003), an in-house recruitment strategy provides the obvious benefit of cost and time savings in terms of training requirements, as personnel with inside knowledge of the company's operations require shorter training periods. Additionally, internal promotion serves as an incentive for all employees to perform harder for the organization and provides the organization with the opportunity to evaluate the strengths and flaws of an insider as opposed to an outsider (The Times 100, 2010). However, the strategy is criticized for failing to infuse the organization with new creative and innovative ideas, without stating that companies must replace the employee who has been promoted (Shittu & Omar, 2006).

In external recruitment, which is mostly used to fill senior jobs, the company uses its website and other media such as radio and television to actively advertise the vacancies (Tesco, n.d.). Although the organization constantly pursues the most cost-efficient method for obtaining qualified individuals, it is aware that an effective recruitment strategy must reach a wide audience and attract a big number of eligible candidates. Analysts of human resources believe that "the larger the applicant pool, the more selective the department can be when making hiring decisions" (White & Escobar, 2008). External recruitment is a costly and time-consuming procedure, but the organization is able to find the ideal candidate for a particular role.

Tesco proactively screens candidates using their curriculum vitae (CV), which enables management to determine whether a candidate's qualifications and competencies align with the position's person specification (Tesco, n.d.). Additionally, the organization is proactive in providing a 'job type match' tool on its official website to weed out people who may like to apply but lack the necessary qualifications, as well as allowing potential applicants to see where they would fit prior to submitting their applications.

Candidates who pass the preliminary screening are invited to the assessment centre, where they participate in a series of practical tasks designed to evaluate their aptitude, teamwork skills, and problem-solving ability. The applicants recommended by the internal assessment centres are then scheduled for interviews with line managers and HR personnel to ensure that the best candidates are chosen based on specific job requirements (Tesco, n.d.). This proactive selection methodology recognizes the need to promote special considerations in order to recruit minority and female candidates. Moreover, the approach enables Tesco to have the appropriate types of people resources in the appropriate jobs and places.

Conclusion

Workforce planning and proactive recruitment and selection procedures are essential for a business to satisfy its present and future staffing requirements. This article demonstrates how these methods have helped Tesco to successfully attract individuals with the qualifications, behaviors, and skills necessary to support its growth and development (Tesco, n.d.).

In addition, the discussion has showed that similar tactics can be copied by other businesses in order to assist them in avoiding the persistent difficulty of acquiring the wrong type of individuals to advance company objectives. The cost element has been thoroughly studied to demonstrate how these tactics have enabled Tesco to reduce costs while attracting the most talented individuals to drive its growth ambitions. Moreover, the methods have shown that it is not always expensive to find the proper people on the market; strategy is the most crucial aspect.

List of Citations

Bernthal, Paul R. (n.d.). Development Dimensions International web page on recruitment and selection.

Chubb, L (2007). Why "Go" means "Green" for Tesco. People Management, Vol. 13, Issue 25, pp 12-12.

Hawley, J.D., and J.C. Taylor (2006). Human Resource Development Implications of How Business Associations Use Inter-Organizational Networks to Achieve Workforce Development Objectives. Human Resource Development International, Volume 9, Number 4, Pages 485 to 508

R Searle (2003). A Critical Text on Selection and Recruiting London: Palgrave Macmillan.

Shittu, O., & Omar, O. (2006). Evaluation of part-time supermarket labor in London, United Kingdom. American Academy of Business Journal, Volume 9, Issue 2, Pages 93-98.

Tesco (n.d.). Selection and Recruitment at Tesco. Web.

Times Top 100 (2010). Website for Recruitment, Selection, and Training.

White, M.D., & Escobar, G (2008). Emerging Issues for the Effective Recruitment, Selection, and Training of Police in the United States and Abroad International Review of Law & Technology, Volume 22, Numbers 1-2, Pages 119 to 134.

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Lopez Ribalda And Others V. Spain Case Free Essay Help

Table of Contents
Introduction Important Facts Justification, Importance, and Rationale for the Material Examples, Concepts, and Instruments for Leading Organizations Integrating the Information into the Entrepreneurial Role Overall Influence of a Cite-Referenced Article

Introduction

The case chosen for this article is Spain v. Lopez Ribalda and Others. Grand Chamber of the European Court of Human Rights rendered the long-awaited decision (ECHR). It outlined the legal, ethical, and practical issues of placing covert CCTV (candid camera television) in the workplace for employers. Five persons employed at a Barcelona-based supermarket filed two applications against the Kingdom of Spain. The proprietor of the store installed CCTV because he suspected employee stealing. An significant notion derived from this case is the right to privacy, which can be characterized as a legal restriction on governmental and private actions that breach the privacy of an individual. In turn, privacy is the freedom of an individual from intrusion and unwelcome publicity. Unlegitimate surveillance and close observation can breach an individual's privacy.

Important Facts

The case and formal court judgement showed the following four significant facts:

The footage from the supermarket's CCTV cameras confirmed the owner's concerns that the individuals who had been fired for disciplinary reasons were really shoplifters. Their unlawful actions did not end there, though. The applicants were caught canceling their friends' and coworkers' purchases at the checkout so that they could leave the store without paying for the goods; The Grand Chamber of the European Court of Human Rights had to make a landmark decision that would contribute to the age-old conflict between public surveillance and citizens' rights to privacy; The Grand Chamber of the European Court of Human Rights determined that the employer had the right to install CCTV and that it did not violate the applicants' rights to privacy. In addition, monitoring is permissible by law if there is no other way to apprehend the suspects.

Material's Rationale, Justification, and Importance

The Lopez Ribalda et al. v. Spain case was chosen because it shows a situation applicable to any employer or business owner. The facts of the case are not divorced from their daily lives. Theft by insiders accounts for a considerable portion of the average business's losses, hence it is sensible for employers to implement preventative measures. Lopez Ribalda and Others v. Spain gives light on how business owners can resolve the conflict between public surveillance and individuals' right to privacy. Even if it found in favor of the employer, the Grand Chamber of the European Court of Human Rights (ECHR) does not grant enterprises complete monitoring freedom.

Examples, Theories, and Instruments for Organizational Leadership

Lopez Ribalda and Others v. Spain is a lesson on organizational trust and mistrust. On the one hand, employee interactions should be founded on mutual respect and trust. A safe workplace promotes motivation, engagement, productivity, and job satisfaction. On the other hand, a company cannot disregard workplace safety concerns too lightly. The attitude of indifference toward work operations might result in considerable losses that will be difficult to compensate and bad to the organization's reputation. Employers must therefore establish a balance between freedom and control and implement fair procedures addressing disciplinary violations and workplace surveillance.

Integrating the Information into the Entrepreneurial Role

When reading Lopez Ribalda and Others v. Spain, a business owner who employs others may conclude that micromanagement and severe control without justification are often discouraged. Employers who are micromanaged can get impatient due to the constant feeling of being put on the spot. Such a stressful situation may distract them from their actual professional tasks. When there is a fair suspicion that employers are abusing their position, restrictive measures make sense. In Lopez Ribalda and Others v. Spain, for instance, the proprietor of the supermarket observed discrepancies between stock levels and sales numbers. A further aspect for an entrepreneur is that he or she must be prepared to litigate against employers. An entrepreneur should have legal justifications for having monitoring technology and protocols in place, just in case.

Impression Globale d'un Article

Lopez Ribalda and Others v. Spain contributes to the enduring tension between the rights of corporations to surveillance and the rights of employers to privacy. The decision in Lopez Ribalda et al. v. Spain permits CCTV surveillance only under particular conditions, including the absence of a better alternative, reasonable suspicion, and others. Thus, the ruling underlines the significance of striking a balance between preserving the business's interests and upholding the employee's liberties. Moreover, the ECHR governs the placement of CCTV. Some places, such as restrooms and bathrooms, are considered private. On the other hand, shop floors have a reduced expectation of privacy, making the installation of CCTV more acceptable.

Notes cited

Spain v. Lopez Ribalda and Others, 2019.

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Knowledge Management At Johnson And Associates: Case Study Free Essay Help

Introduction

Consulting businesses are seeing fast shifts in service delivery and the form of client-operated knowledge management systems. A knowledge management system must be in place in order for a business to adapt to the changes in information technology and provide excellent customer service. Utilizing information technology will enhance and expand customer service delivery.

Knowledge management is the implicit, explicit, and systematic organizing of crucial and shareable information within an organization and its external environment. It entails organizing information, locating and studying it, selecting necessary information, filtering it, and presenting it to groups, individuals, or entities in an effort to enhance their understanding of certain business areas of interest. Therefore, knowledge management is the process of transforming personal knowledge acquired via the learning process or from other sources into knowledge for others through the organization of information inside the organization. Information management focuses on two goals: facilitating knowledge sharing inside the organization and utilizing knowledge to govern communities and institutions. Business organizations that have implemented knowledge management operations have been able to concentrate on gathering, storing, and applying knowledge for problem solving, dynamic learning, strategic planning, and decision making, among other purposes ( Graduate School of Business, University of Texas at Austin,2000 and Blue Ridge Academic Health Group. 2000).

Knowledge sharing among employees is acknowledged as a source of sustained competitive advantage, business value, and economic progress (Sandra Vera-Mun , Joanna, and Chee, 2006), despite the fact that knowledge sharing within organizations may be constrained (Szulanski 2000, 1994; Nonaka and Takeuchi 1995; von Hippel 1994).

What is Understanding?

According to the dictionary, knowledge is the consciousness and comprehension of facts, truths, or information gained via experience or learning. Researchers employ a variety of terms to characterize knowledge, as claimed by Sandra Vera-Mun, Joanna, and Chee (2006). Therefore, knowledge might be an appreciation of interconnected information that are of smaller value when considered separately. (Nonaka) (1994) Starbuck (1992) described knowledge as a store of competence, and Elliott and O'Dell (1999) defined it as information in action, citing Starbuck's (1992) observation that knowledge consists of justified true belief.

Sharing Information

Polanyi distinguished between explicit and tacit knowledge (1966). Explicit Knowledge is "know-what" that is captureable, codifiable, categorizable, and transmittable (, Stenmark 2000). Tacit knowledge is the "know-how" that humans acquire via their routine practices and mental models ( Polanyi 1997; Nonaka and Takeuchi 1995). Ambrosini and Bowman (2001) concluded that tacit knowledge cannot be easily stated since it is subconsciously grasped and applied and resides in the minds of individuals as intuitions, insights, beliefs, and values. Bonner (2000) and Lee (2000) emphasized that knowledge is embedded and synthesized in the minds of individuals in the majority of organizations.

Sandra Vera-Mun, Joanna, and Chee (2006) argue in their article enhancing knowledge sharing in public accounting firms that "explicit knowledge can be shared through verbal or written communication and, as a result, passed on to other members of the organization, who must convert it into tacit knowledge before using it." Conversely, tacit knowledge is often transmitted through socializing, including highly involved dialogues, apprenticeship (e.g., observation), storytelling, analogies, and shared experiences and activities ( Stenmark 2000, 10; Zack 1999b, 46; Nonaka and Takeuchi 1995; Nonaka 1994, 1991). Thus, tacit information is efficiently transmitted by providing the recipient with the greatest number of possibilities to collaborate with the originator of the knowledge." The end of the quotation.

We learn from the quote and debate that knowledge sharing, whether explicit or tacit, is crucial to the business and involves both human effort and an enabling organizational climate.

Johnson and Company

Johnson and Associates is a public accounting business that was founded in 1978 and has evolved to become a prominent provider of services on three continents. The company is organized into functional sections to accommodate professionals with competence in receivership, management, insolvency, auditing, accounting, and bookkeeping. Each functional division is staffed with personnel and equipped with the necessary materials for operational procedures.

The objectives, mission, and strategy of the business

The company's primary purpose is to expand its presence on the remaining three continents and increase its workforce from 49,000 to about 59,000.

This necessitates a comprehensive knowledge management solution that provides vital resources and orientation and reference information to new branches and staff members. The organization would be able to provide superior and consistent services to its consumers if it had easy access to information.

Let me begin by introducing the accounting and bookkeeping department's personnel. In the accounting business, they are the most significant because they interact with clients. When you give accounting records to the company, the staff members are the recipients; they are also the individuals responsible for the task. In addition to accounts clerks, accounts assistants, accountants, audit clerks, auditors, senior accountants, senior auditors, and audit managers, there are numerous different categories of bookkeeping and accounting personnel. This form department possesses a variety of attributes: There is substantial interaction between themselves and members of their profession with the objective of sharing information and new accounting standards. Their organizational system is hierarchical, spanning from partners to branch managers, audit managers, managers, department heads, and lastly audit clerks. The flow of information adheres to a hierarchical structure, the majority of staff members in this department hold degrees and professional certifications, and staff members in this department require ongoing training and updates on changes to professional standards, legislation affecting the profession, and other changes affecting the profession. This department's primary objective is consistency, caution, adaptability, and precision.

Influencing Factors of Knowledge Sharing at Johnson and Associates

The company makes efforts to collect, organize, transform, document, and distribute the collective knowledge of its personnel. However, staff members' knowledge is disseminated through informal and formal consultations, and further knowledge is shared utilizing information technology.

Information Systems

The company Johnson & Associates use an information technology system. Banker et al. suggested that accounting companies use IT to capture and retrieve data, information, and knowledge (2002). IT also enables staff workers to gain access to professional practices best practices, surveys, statistics, expert information for specific situations, and point-by-point expertise, according to Silvi (2002).

According to Sandra Vera-Mun, Joanna, and Chee (2006), "These systems give auditors of all levels access to both external and internal expertise contained in third-party databases." In addition, businesses employ the "codification of experiences" concept, which entails making the audit teams' research, experiences, processes, and working papers accessible to the rest of the organization via keyword searches in knowledge bases. For instance, Ernst & Young's PowerPacks are continually updated compilations of best practices material that are internationally accessible via KnowledgeWeb (Head 2001). This information can be downloaded onto the computers of seven individual specialists globally. The corporation tracks the frequency with which PowerPacks are accessed, and these counts show the currency and value of the PowerPacks' knowledge. This platform eliminates the need for employees to "reinvent the wheel" whenever a common issue emerges. IT supports knowledge exchange by easing such processes and offering the means for electronic cooperation. Access to crucial data and papers within the organization is facilitated by information technology systems, which should boost productivity and decision-making. Group support systems (e.g., Lotus Notes and similar web-based systems) integrate communication, computer, and decision technologies to support group decision-making and associated tasks (Jessup et al. 1990). In addition to allowing auditors to operate in "virtual teams" unrestricted by time or distance, these systems also support electronic meetings (Murthy and Kerr 2004, 141).

PricewaterhouseCoopers directed the 2002 VivendiUniversal SA Sarbanes-Oxley 302 Certification project. Using Lotus Notes, electronic mail, instant messaging, and video conferencing, teams in Europe and the United States were able to work in real time. In addition, technological advancements enable auditors on engagement teams to conduct electronic reviews of clients' work papers from their offices or remotely (Brazel et al., 2004)".from this excerpt on how accounting firms use information systems, we realize that other leading accounting firms have adopted systems that allow them to share knowledge within the organization.

Despite the availability of an information technology system, Johnson and Associates do not necessarily share information with everyone. Other restrictions hinder progress. Most accounting firms have difficulty documenting their work or practices because there is a large gap between what a task looks like in a process manual and how it is implemented in practice, and the gap between what people believe they do and what they actually do argues for the need for better documentation. Joanna, Sandra Vera-Mun, and Chee (2006). The majority of accounting firms' work consists of tacit improvisations that are difficult for staff to articulate. Tacit knowledge is a component of total job-related information (Schmidt and Hunter, 1993) and can be gleaned from professional encounters.

Like many accounting firms, Johnson & Associates collects and codifies a vast array of knowledge. Sandra Vera-Mun, Joanna, and Chee (2006) noted in their article that "individual auditors must still sift through available datasets and exercise discretion in determining which components are appropriate to the current circumstance. Continuous education and training is necessary for an efficient and successful outcome (Banker et al. 2002). Thirdly, anecdotal data (Head 2001; Power 2000) and field-based research (Irmer et al. 2002) indicate that knowledge sharing through IT-based expert knowledge systems is not automatically accepted by all members of an organization. A new study reveals that professional employees with assessment anxiety are less willing to share their knowledge. Importantly, this research suggests that evaluation anxiety is greater when knowledge is shared via collective database-related technologies (e.g., an intranet) than in informal interpersonal contexts, due to the number and characteristics of those who have access to the information and the permanence of the record.

Information technology aids in the collection, codification, and delivery of data. However, information sharing is an organizational issue because its success ultimately depends on people, their practices, and their expertise (Salisbury 2003, and Douglas 2002).

Auditors' Formal and Informal Interactions

Informally or formally, auditors and professional colleagues at Johnson and Associates share their expertise through personal encounters. As indicated previously, formal groups in Johnson and associates comprise auditors, audit clerks, and audit managers from the same department or another department. Their knowledge-sharing involves office meetings with the audit manager, partners, and other individuals in senior positions. This formalizes new work practices and any other growing issues in their profession. In these companies, informal groupings may include associations of employees from a certain region of the world, who organize assistance teams in times of need. In the course of conducting their informal meeting, professional information may be shared through their exchanges on social terms. This occurs without the other party's awareness, with no negotiation of terms and no knowledge of when the other party will reciprocate (Molm 2000).

The formal and informal connections of accounting businesses are influenced by a number of factors that affect the exchange of information. This consists of practices, unstated standards, beliefs, and shared ideals. This can be summed up as the factors that govern the patterns and characteristics of interactions between workers at various hierarchical levels (Sadler 1988, 118).

Brown and Starkey (1994) claimed that an organization's culture is a significant component that influences attitudes toward communication and communication procedures and systems. Many practitioners concur with John Hudson, former vice-president of strategic planning and knowledge management at the American Institute of Certified Public Accountants (AICPA), that the barrier to knowledge sharing is not technology but rather a business culture that rewards keeping information to oneself. Meaning that you should keep your knowledge secret from your peers in order to gain a competitive advantage in terms of compensation and benefits. This implies that individuals' employees are discouraged from sharing their knowledge. (Stimpson 1999, pages 38-39) Accounting firms should promote a culture that promotes the sharing of knowledge and eradicate cultures that reward individuals who do not accept teamwork. If an employee is competent yet unwilling to share knowledge, dismiss him. Consequently, cultures and practices that foster transparency and teamwork are a source of information exchange in accounting businesses. Thus, if partners display accessibility and a readiness to discuss sensitive themes, auditors at lower levels are less likely to have evaluation anxiety, thereby increasing their propensity to seek and share knowledge proactively (Sandra Vera-Mun, Joanna, and Chee, 2006).

The criteria used for problem solving and decision making in an organization have an effect on information sharing. All business interactions, explanations, decisions, and expectations must be viewed as equitable. Individuals involved in decision-making, the issuance of opinions, and the recognition of their assumptions and ideas through the solicitation of their opinions and the opportunity to reject the validity of one another's assumptions and ideas. Decisions should be accompanied with an explanation that enables individuals to comprehend the rationale and instills confidence in management's objectives. Sandra Vera-Mun, Joanna, and Chee (2006) contended that "expectation clarity entails making the game's rules explicit." Studies have established a connection between processes, attitudes, and behavior. According to the research conducted, "executives in their sample were frustrated by the uncooperative conduct of the top managers of their local companies. Specifically, senior local managers frequently failed to communicate their information and ideas with the executive level. Managers who believed that the company's processes were fair exhibited a high level of trust and dedication, which fostered active cooperation. In contrast, when managers lacked confidence in a fair procedure, they hoarded information and ideas and dragged their feet in making choices and carrying them out. According to research on procedural fairness, the intricacies of the new rules and policies are less important to achieving a fair procedure than their clarity. Moreover, individuals care equally about the fairness of the process by which a result is created as they do about the result itself. Generally speaking, a fair procedure fosters confidence and commitment, which in turn generates voluntary cooperation. Cooperation drives performance, which motivates people to go above and beyond by sharing their expertise and utilizing their creativity. Joanna, Sandra Vera-Mun, and Chee (2006).

(3) Role Conflict and Role Ambiguity: According to Jackson and Schuler (1985), Role conflict and role ambiguity can be sources of work-related stress, which may impact service delivery to clients. This arises when no proper definition exists. Most accountants and auditors expectation are derived from generally accepted accounting principle and other regulations. Sandra Vera-Mun, Joanna, and Chee (2006) argue that the boundaries on the scope of no audit services established by Sarbanes-Oxley may not be completely transparent to some controllers and corporate managers, particularly those at small businesses; they may continue to view auditors as business advisors and, as a result, auditors' independence may be compromised.

Marketing Strategy Of Coca-Cola Free Essay Help

Introduction

We propose selecting an analysis of the marketing strategy of Coca-Cola, the most widely recognized nonalcoholic beverage brand in the world.

Coca-Cola, the largest manufacturer and distributor of soft drinks, had its humble beginnings in 1886 with an initial investment of $70. With a current financial basis of $50 billion, this one-man economic operation has grown into a gigantic empire. Coca-Cola has become a household name in more than 200 countries around the world, with more than 400 product types, and is now the market leader in the soft drinks industry. Diet Cola, Fanta, and Sprite are the other major brands of Coca-Cola Company. These brands have a large consumer base, high market demand, and a distinctive flavor. The Coca-Cola Company's primary marketing methods are currently appealing packaging and promotions.

Executive synopsis

Every organization is evolving in accordance with a specific framework. The organization's structure will play a significant impact in its success. In structural hierarchy, senior management executives report to lower-level employees. Effective communication between these groups can affect the organization's overall performance. The essence of marketing is a transaction designed to fulfill human needs/wants. Effective marketing focuses primarily on the team's ability to communicate effectively. The primary responsibilities of management are to assess, develop, and implement programs to achieve the desired market level. Coca-goods Cola's are currently sold at supermarkets and other large retail shops. Overseas distribution by Coca-Cola Company franchisees guarantees that their products reach every corner of the globe and ensures customer happiness via product quality. Coca-Cola is the largest producer and distributor of nonalcoholic beverages in the world. Currently, they conduct marketing operations in over 200 countries. In addition, they are concentrating on a variety of products. Now they dominate the market for non-alcoholic beverages. Despite the fact that their closest competitor is Pepsi, Coca-Cola has achieved a significant market share during the past three years. Coca-Cola has a positive brand image, and this is one of their marketing strategy's core competencies. In this context, Coca-Cola seeks to achieve its ultimate marketing target while also innovating certain recent marketing methods to enhance its brand in the future. Every product must contend with intense competition on domestic and global marketplaces. The product's marketability is contingent upon its main competency.

Purpose Statement

Coca-actions Cola's are motivated by their desire to revitalize the community physically, psychologically, and spiritually, to promote growth through their products and efforts, to uphold ideals, and to make a significant contribution in all endeavors. To attain a high level of growth, Coca-Cola has devised a strategy that comprises maximum rewards for all stakeholders and a total commitment to the community. The workplace should be optimal for employees in order for them to achieve the finest results. To produce a variety of soft drinks to quench the community's thirst. Being a responsible corporate citizen entails cultivating a community of associates and fostering cooperative loyalty.

Environmental Assessment

Macro and microenvironment are the two primary categories of environmental analysis. Analysis of the macroenvironment relates to marketing rivalry, customers, and the Product framework. The micro environmental study focuses primarily on a specific factor that effects the organization's marketing policies. In the context of Coca Cola's marketing environment, the competitor's packaging and distribution strategies might impact the company's approach to these areas.

Marketing Environment

A effective marketing strategy includes enough knowledge of the market, the customer, the competitors, and the surrounding environment. The primary objective of marketing is to assess external and internal, positive and negative elements that influence the marketing environment.

Competitive Forces: In the non-alcoholic beverage sector, practically all Coca-Cola brands have Pepsi products as competitors. Sprite, Cherrystone, Diet Coke, and Coca Cola dark have rivals in Pepsi (Diet Pepsi, 7 Up, Wild Cherry, etc.). “Competition is often defined as enterprises within an industry manufacturing products that are interchangeable. Consequently, the identification and evaluation of market competitors is a crucial aspect of strategic marketing and a crucial aspect of business sustainability. ” (Heiser, Robert. S., McQuitty, Shaun., and Stratemeyer, Andreas. W).

Domestic manufacturers pose significant competition to Coca Cola products. They face competition mostly on overseas markets from local soft drink manufacturers.

The primary area of competition between Coca-Cola and Pepsi is promotion and advertising. Advertisement contests refer to it as the "cola wars." Each corporation attempts to leverage valued celebrities in their advertising campaigns. Both corporations utilize television advertising campaigns to feature celebrities in their advertisements.

In the economic study of Coca-Cola, marketing activities have a significant role. Coca-foreign Cola's marketing strategies are influenced by the economic standing of individual nations. The market is influenced by government policy regarding interest rates and other economic issues. Economic position consists of the gross domestic product, per capita income, standard of life, and other economic elements that influence the market. Political and Legal Forces: The Food Category Act regulates the nonalcoholic beverage sector. The company activities are conducted in accordance with the government's regulations. Technological Forces: Coca-Cola employs cutting-edge technologies in all of its commercial operations. Their innovative production procedures and packaging systems are crucial to their production and marketing success. In 1990, CCE established the largest soft drinks factory in Europe in Wakefield, Yorkshire. The Wakefield facility has the technology to create Coca-Cola cans faster than machine gun ammunition." (Technical Analysis of Coca Cola and PEST Case Study: Pepsi Cola)

The technological innovation contributes to an increase in Coca-advertising Cola's and promotional expenditures.

Sociocultural Forces: Marketing operations are closely aligned with society ideas. Some cultures are adopting healthier lifestyles, which affects the overall market as well as consumer purchasing patterns.

Target Market

Target marketing is the strategic decision a business makes regarding where to sell its products, who its clients are, what its organizational structure is like, and how it will target the various market segments. There are three primary forms of targeting: Undifferentiated marketing is a concept of mass marketing. Under this style, the company decides to target the entire market with a single product. Differentiated marketing is segment-based and utilizes distinct marketing initiatives. Concentrated marketing – The term itself indicates that the marketing strategy focuses on a certain market segment. The following is Coca-Brand Cola's strategy:

Identification

Manufacturers attempt to discover the true potential purchasers in the market, and then focus their marketing efforts and product offerings on those areas. Manufacturers plan and develop certain marketing functions to ensure that consumers see their products more favorably than those of their competitors. In market identification, the organization focuses mostly on maintaining the actual market potential and consumer behavior.

Analysis of Need: The existence of a market is highly reliant on the existence of actual potential buyers. Customer retention is only permissible in accordance with the goods offered. For this, it is vital to analyze the consumers' needs, wants, and desires. Coca-approach Cola's in this area consists of continuously assessing and satisfying client demands.

Recent marketing objectives and results

Review of Marketing Aims Coca-primary Cola's marketing objectives are to maintain its international market share, volume, and customer retention. Market share refers to a company's expenses, but the quantity of marketing a product receives corresponds to its sales. In marketing, demand and supply analysis are also quite important; pricing and distribution are based on demand analysis. In strategic market analysis, estimated demand parameters play a vital role, as the calculation of market power and strategic behavior is dependent on expected price and spending elasticities. ” (Dhar tirtha P, Jean-Paul Chavas, Ronald W Coterill, Brian W Gould).

Retention is one of the most critical aspects of marketing for a successful marketing function, and it is crucial that the firm offers enticing sales promotional activities to keep its clients. Existing consumers' testimonials about the goods play a crucial role in the emergence of new purchasers on the market.

Analysis of an organization's performance relates to how the organization is functioning in its business operations. In marketing, performance is measured by revenue and market share. Coca-Cola is the global industry leader in nonalcoholic beverages. They are currently conducting business in more than 170 countries and provide more than 400 product variations. Strategic marketing is Coca-greatest Cola's area of strength. Coca-advertising Cola's portray its brand image.

SWOT Analysis

Strengths

Coca-popularity Cola's product's in the global non-alcoholic beverage market is its greatest asset. Coca-brand Cola's image also plays a key role in their marketing, as many people view it as a symbol of quality, which is their primary area of competitive advantage. In addition, they supply high-quality items to their clients, and their inventive advertising and promotional efforts enable them obtain a substantial market share.

Weaknesses

Some nations have banned Coca-Cola products as a result of disputes around its effects on community health.

Opportunities

The primary opportunity for Coca-Cola goods is their market reputation and popularity. It helps them get new customers. Coca-Cola has a solid customer base, which could help the company get more clients in the future.

Threats

Coca-current Cola's market challenges originate primarily from the banning of products in certain countries, where the use of Coca-Cola products is viewed as a health threat that may hinder the future marketability of their products. Coca-market Cola's is also threatened by uncertain consumer purchasing behavior.

Strengths-to-opportunities matching/converting weaknesses and threats

Coca-strength Cola's is its brand image and dedicated customer base. This helps generate several market prospects. Coca-product Cola's quality and marketing strategy are further key strengths that enable the company attain a substantial proportion of the worldwide nonalcoholic beverage industry. People's healthy lifestyles, their reluctance to use nonalcoholic beverages, and the fact that some nations have prohibited Coca-Cola products in the name of public health are all weaknesses and threats that correspond. These developments have a negative impact on Coca-future Cola's market.

Marketing Strategies

In this definition, the market is a collection of buyers and diverse products; each buyer is potentially a separate market due to their own requirements and desires. In the context of Coca-marketing, Cola's they practice generic marketing. Advertising and promotion is the primary strategic focus of Coca-marketing. Cola's The appealing packaging and distribution system of Coca-Cola are also crucial elements of their business.

Target Marketing is one of an organization's strategic decisions regarding where to promote its product. Coca-Cola employs a strategy of mass marketing. Their marketing strategy does not involve market segmentation; rather, they are marketing the product to the general public. Coca Cola's marketing approach is to produce a single beverage for the entire market.

Marketing Mix

Product: A product is a group of tangible goods whose distinguishing feature is that they are readily identified. It includes characteristics like as Packaging, Pricing, and the manufacturer's reputation, as well as client preferences. “Product is, of course, the item (or service) you sell to customers. There are several aspects of the product that should be evaluated. ” (Marketing-Product Description, Name, New Product Adaptability). A product satisfies a certain buyer desire. In the context of Coca-Cola, the product is a well-known brand with broad market appeal and high quality; it gives revitalization and quenches thirst.

Price: The price of the product is determined by the product demand and supply matrix and corresponds to the cost of the production factors. In product planning, management may decide to improve the product's quality or add value to its marketing strategy. However, these decisions can only be implemented if the market is willing to pay a price sufficient to cover the increased cost.

Promotion: Promotion is a crucial element of the marketing mix; it encompasses all sales promotional efforts. In general, marketers are employing advertisements and other promotional methods. The most important aspect of Coca-marketing Cola's strategy is its beautiful advertisements and promotions.

"Promotion is the specific combination of advertising, personal selling, sales promotion, and public relations that a company employs to achieve its advertising and marketing goals." (Promotion, Marketing-promotion objectives, offer, Response, Public Relations, World Wide Web, Direct Mail). All of these elements are present in the case of Coca-Cola.

Place refers to the location where buyers and products meet. In the context of Coca-Cola, its products are sold through grocery stores and retail shops. Additionally, they distribute products via vending machines.

Implementation of Marketing: An organization's success is dependent on the implementation of marketing efforts. Timing is integral to any marketing endeavors. Implementing advertising and marketing at the optimal time is crucial. In a highly competitive market, all manufacturers strive to acquire more clients. Implementing marketing efforts in a timely manner is crucial for establishing strong market performance.

Marketing Organization: The primary activities of a marketing organization are marketing to clients and generating income for the organization. The activities of a marketing firm include Sales, Promotion, Customer Care, etc. A firm's marketing efforts are integrated and well-managed, and the chief marketing executive plays a significant role in these activities. The management focuses on the marketing exchange process. The primary responsibilities of marketing management include market analysis, marketing planning, and strategy implementation.

Activities, Responsibilities, and Completion Schedule: The primary purpose of marketing is the transaction and exchange of goods and services designed to satisfy human wants and requirements. The following are the primary responsibilities of the marketing department.

Evaluate the item. Conduct a market and customer analysis Setting a target market Examine the competition. Developing a pricing and distribution strategy, etc. Distribute the item to the market Obtain customer feedback Assessment of market share The formulation of future market strategies.

Marketing is primarily responsible for delivering the goods to clients and meeting their needs. Everyone anticipates a reward from their purchase. Customers spend money on a product in exchange for its utility. In this sense, the ultimate responsibility of a marketing company is to provide clients with high-quality goods.

Evaluation and Management

Performance Standards and Financial Control: The marketing department's performance is judged by the increase in market share and revenue. A Market Survey is a highly effective instrument for studying the market and the responses of customers to a product. Coca Cola maintains product quality and implements a methodical growth-oriented marketing strategy. Coca-Cola has been voted the world's leading brand for the fourth straight year, according to a poll by Interbrand. (Coca-Cola Remains the Top Brand Worldwide) These innovative marketing and production practices help the company maintain its global leading position in the nonalcoholic beverage industry. Financial control is a company's applied financial strategy. The primary objective is to increase earnings and income. Financial control is the management of an appropriate balance between income and expenses. To advance the marketing function, a constant supply of sufficient finances is required.

Conclusion

Profitability can be achieved by maximizing turnover and making suitable investments. Coca-marketing Cola's strategy focuses on retaining and acquiring new customers. In this setting, the financial control of Coca-Cola is increasing sales and profit margin simultaneously.

Sources Cited

Heiser, Robert S., Shaun McQuitty, and Andreas W. Stratemeyer. "Expanding the competitive environment: the customer's perspective." 2005, Academy of Marketing Science Review Pepsi Cola. Web. Technological Analysis of Coca Cola, PEST Case Study: Pepsi Cola. An Econometric Analysis of Brand Level Strategic Pricing between Coca Cola and Pepsi Inc., by Dhar, tirtha. P., Chavas, Jean. Paul., Coterill, Ronald. W., and Gould, Brian. W. 2007. Marketing – Product Description, Product Name, and New Product Adaptability Determan Home. 2007. Marketing-promotion objectives, offer, Response, PR, the World Wide Web, and direct mail. Determan Home. Coca-Cola remains the leading brand in the globe. 2005 BBC News Web site.

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Alibaba Company’s Organizational Behavior Free Essay Help

Table of Contents
Introduction Implementation of Ideas Recommendations Conclusion References

Introduction

Alibaba is one of the most significant success stories of the 21st century. It might be argued that the company's culture and ideology have been the driving forces behind its exceptional expansion. People are crucial to advancement because they are committed to the organization and the development of appropriate employee behaviors. This essay examines the organizational behavior of the firm and discusses related themes in depth.

The Alibaba scenario illustrates organizational behavior concepts most clearly. Organizational behavior (OB) refers to the actions, reactions, and thoughts of employees in the workplace. OB is concerned with employee behavior, relationships, culture, and the structure in place for them to work (Hammond, 2016). Alibaba's OB is based on the company's belief that "success and profitability are outcomes of focusing on customers and employees, not goals" (Ibarra et al., 2019, p. 4). All actions conducted by Alibaba are geared around maximizing the customer experience, with employees taking second place. A company whose primary objective is to assist employees in their development will foster a culture of learning and productive connections.

Alibaba is the ideal example of a company that uses the social approach to the OB extensively. According to the social approach, the primary focus is on the organizational members and their personality system, which includes their attitudes, perceptions, and motivations (Mullins & Christy, 2016). Alibaba allows its employees to exchange ideas anonymously and freely connect with one another. The personality of Jack Ma is the primary influence on the attitudes of his employees. He has been described as having the ability to attract and enchant talented individuals (Ibarra et al., 2019). However, his biggest accomplishment is motivating others to provide their best effort and engage in activities that benefit customers and the organization. For instance, he believes that internal competition is the key to innovation, and he plays with the concept until a new culture of competitiveness takes root and continues to push Alibaba's growth.

Implementation of Ideas

Several organizational behavior (OB) theories can be applied to the situation of Alibaba, particularly those that emphasize organizational lifestyles. Alibaba's expansion has been marked by cultural shifts that have imbued certain principles into the company's daily operations in an effort to enhance one or more aspects of productivity. Therefore, Hofstede's theory of cultural aspects can help to explain Alibaba's customs. The four aspects are power distance against intimacy, uncertainty avoidance versus acceptance, individuality versus collectivism, and masculinity versus femininity, which were initially applied to national customs (Beugelsdijk & Welzel, 2018). Alibaba can be defined as having a lower power distance due to the proximity of its employees and management. Although the internal bulletin is primarily used to bridge the gap between first-line workers and executives, the leadership structure is quite horizontal. For example, Ma's online avatar Feng Qingyang is notified directly of management decisions and ideas (Ibarra et al., 2019). These features indicate a close relationship between employees and management.

Uncertainty acceptance, as opposed to avoidance, is a second cultural factor relevant to Alibaba's circumstance. Jack Ma is credited with constructing Alibaba based on uncertainty tolerance. Internet was a relatively new technology in China when Alibaba was established. Ma has no computer science or other technical expertise, yet he constructs the largest Chinese technology company. As indicated previously, the culture shift at Alibaba has been achieved by trials whose effects are unclear (Ibarra et al., 2019). The third component of Alibaba is collectivism as opposed to individualism (Beugelsdijk & Welzel, 2018). The internal is constructed with the primary intent of bringing staff together to facilitate smooth knowledge sharing. The employees have embraced teamwork, and their actions are all focused on enhancing the client experience. Even when internal competition is adopted, it does not pit individuals against one another; rather, it pits corporate units against one another.

The final factor is feminism in contrast to masculinity, where employees embrace cooperation, care for others, and unity. In contrast, masculinity is connected with workers who pursue individual accomplishments and success through hostility (Beugelsdijk & Welzel, 2018). The transition from a cooperative to a competitive culture has not altered the female dimension. According to Zang, "it was difficult to explain to employees that, despite competing in the market, they belonged to the same company" (Ibarra et al., 2019, p. 7). This statement underlines that solidarity and cooperation within Alibaba are essential parts of the organization's operating basis (OB).

Recommendations

Alibaba's success can be linked to the company's ability to undertake culture changes to improve the performance of its employees. Nevertheless, as the business grows tremendously, it may need to rely more on the loyalty and goodwill of its personnel. Additional culture change would be required, which is not an easy undertaking. Walker and Soule (2017) assert that transforming a company's culture will require a movement rather than a mandate. In addition, the authors note that while a manager can require compliance, they cannot impose trust, optimism, innovation, or conviction. Adopting a corporate citizenship culture is the recommended strategy for making Alibaba even better through additional culture improvements.

Organizational citizenship behavior (OCB) is the ideal method for enhancing employee performance. OCB works best in knowledge-dependent businesses, and it helps to recognize the need to connect critical resources with the appropriate behaviors to enhance the entity's competitive edge (Tefera & Hunsaker, 2020). Taşkran and Iyigun (2019) define OCB as the corporate conduct based on voluntarism in which employees pursue the best interests of the company without feeling obligated and without expecting to be rewarded. Failure to behave in this manner is not punished, but establishing a culture based on this principle promotes employee dependability and removes the need for micromanagement on the part of managers.

Conclusion

Alibaba's organizational behavior has contributed significantly to the company's success by fostering a culture that brings out the best in its employees. Hofstede's cultural dimensions have been applied to explain Alibaba's OB, which can be summed up as intimacy between management and staff, tolerance for uncertainty, collectivism, and femininity. Jack Ma's personality has helped him create a company culture that reflects his beliefs, including a philosophy that guides all employee behaviors. Culture change has been related with the company's growth; hence, it has been suggested that additional value shifts in the form of organizational citizenship behavior will help Alibaba become even more successful.

References

Beugelsdijk, S., & Welzel, C. (2018). The dynamics and dimensions of national culture. Journal of Intercultural psychology, 49(10), 1469–1505 Web.

M. Hammond (2016). A primer on organizational behavior. In C. Crosss and R. Carbery (Eds. ), Introduction to Organizational Behavior (pp. 1–22). Palgrave.

Ibarra, H., Spungin, J., & Borpujari, R. (2019). Jack Ma is constructing a learning organization at Alibaba. Cambridge Business School

L. Mullins and G. Christy (2016). Administration and organizational behavior. Pearson.

Taşkıran, G., & Iyigun, O. (2019). A study of the connection between organizational citizenship behavior and entrepreneurial attitude in the hotel sector. 158, 672-679 in Procedia Computer Science Web.

Tefera, C., & Hunsaker, W. (2020). A conceptual model of intangible assets and organizational civic behavior Heliyon, 6(7), 1–11. Web.

Walker, B., & Soule, S. (2017). It takes a movement, not a mandate, to alter the corporate culture. Web-based Harvard Business Review.

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Overview Of E-Commerce Free Essay Help

Outline

This paper provides an overview of eCommerce in terms of solutions, security, payment challenges, implementation, marketing, and legal/technical concerns. It is evident that this sort of business is increasing popularity and acceptance among businesses and consumers. If the aforementioned parameters are considered, it is possible for a small or medium-sized business like Thai Lay Fashion to successfully operate an eCommerce portal or platform.

Introduction

Thai Lay Fashion Co Ltd is a well-known Hong Kong-based textile exporter. The company was started in 1991. It exports primarily to European markets. Its production headquarters are located in China. This organization has close to 250 employees. The procedures below are suggested for developing ecommerce solutions.

Definition

E-commerce refers to the buying and selling of products over the Internet, particularly the World Wide Web. (E-commerce 2009).

E-Commerce solutions

The book titled "Business to business electronic commerce" describes a variety of approaches and strategies through which small enterprises, such as Thai Lay, might utilize ecommerce for growth. The first step is to adhere to the 80/20 Le Pareto principle, which states that 20% of consumers generate 80% of a company's revenue. The principle applies to every aspect of human endeavor. "According to the 80/20 Rule, in any situation, only 20 percent of the factors are significant, while 80 percent are unimportant." (Reh 2009).

According to the writers of the preceding book, this rule also applies to ecommerce. According to EDIMAN users, they are eager to connect with the 20% of their trading partners who account for 80% of their transaction value or volume. (Warkentin 2009, p. 111). In the majority of ecommerce activities, the purchasing and selling process occurs quickly, although payment can be delayed in business-to-business transactions. Any organization can realize "immediate savings" as a result. In e-commerce, security is of the utmost importance, and clients should be provided with a transaction platform devoid of security concerns. Regarding security, any ecommerce website must consider the following elements. They are privacy, integrity, authentication (both buyer and seller's genuine identities), and non-repudiation. The final factor necessitates "proof that the message was in fact received." (E-commerce security concerns: customer security fundamentals in 2009) An ecommerce platform should be versatile enough to accommodate the various types of clients who can conduct transactions on the site. It should be cost-effective to conduct ecommerce transactions. In other words, traditional transaction costs should be higher than ecommerce transaction costs. Some types of company transactions are more suited to ecommerce than others. Since Thai Lay Fashion is a consumer product, e-commerce is acceptable. However, the organization will be more effective if it transitions from wholesale to retail.

Development of E-Commerce Application Systems

It is primarily related with the incorporation of software designed to aid in business management and web page administration. End-to-end e-commerce application development consists only of business tactics designed to increase business. This is the reason why the need for e-commerce application development has surged among B2B professionals. There are already a variety of internet options that enable people to expand their businesses in the simplest and most cost-effective method possible, with the least amount of investment. Some investors believe that the profitability of e-commerce is directly proportional to the quality of the shopping facility. A businessperson's success is directly proportional to how frequently and effectively website visitors utilize the shopping cart. Building E-Commerce applications for websites may need tens of thousands of hours and requires patience and perseverance on the part of the company. The outcome of such a project will be advantageous for the firm, but in some instances, the newly constructed site cannot provide ideal performance. (Boggs 2008).

Methods for creating an effective e-commerce website

This step's primary objective is to establish the intention and type of sites that the company's clients require. The site's objective may be B2C e-commerce, an online auction, B2B e-commerce, or something else. Before embarking on a new project, the company should answer questions such as: who is the target audience, what do you want the target audience to do, who is the competition, etc.

Finding a look: This process involves determining the aesthetic attractiveness of the website design. The designer begins by creating a mock-up template for the customer, depending on his or her initial comprehension of the e-commerce website. From the original template, the designer determines the site's visual direction, and alterations are made based on client feedback.

Insert content: This phase entails determining the graphic aspects of the e-commerce website. We now add the site's content after the designer has assembled the site using high-quality, quickly-loading visuals. Typically, the client provides the content, and the designer then incorporates the shopping cart system.

Testing, re-testing, and further testing: The designer will now launch the e-commerce website development project. The designer must ensure that all aspects of the website are functional and operating as intended.

Go live: This is the project's most exciting phase. This phase begins when the designer receives the client's final approval. At this point, the site is prepared for business. (Development of E-commerce in Delhi, India)

E-commerce is growing in importance, and many businesses are establishing their own portals in an effort to grab new global markets. Customers are not limited geographically by e-commerce. Only a facility for product delivery is required. However, many are hesitant to utilize this technology due to the issue of security when conducting business over the internet.

To achieve security, any organization must meet four criteria: confidentiality, integrity, authentication, and non-repudiation. (E-commerce security concerns: customer security fundamentals in 2009)

"A firewall is a security device placed between an organization's private network and the public internet that moderates and logs requests for internal and external network data access in accordance with the organization's custom security policy." (Firewalls).

Modern communication technologies and the requirement for precise payment systems for e-commerce have resulted in the evolution of e-payments. Specifically, payments initiated and completed electronically. (Electronic payments in Europe in 2002)

Implementation of E-Commerce: E-Commerce is crucial in today's competitive environment. By implementing E-Commerce, the business will get a competitive edge. Many businesses are using e-commerce platforms in order to increase their consumer base and brand loyalty. E-commerce enables a company to effectively exhibit its products and services and conduct commercial transactions 24 hours a day. It is also advantageous for a business to join online groups and marketplaces. It allows the company to connect with a huge number of clients who share a special interest. E-commerce solutions promote the cooperation between apps, servers, and networks. (E Commerce implementation 2009).

E-marketing is a component of e-business that is used by a number of large corporations to increase sales. Marketers constantly analyze the significance of e-marketing and integrate it as necessary into all marketing components, including strategy, customer behavior, marketing communications, and marketing mix. In contrast to the past, obtaining a high ranking on the leading search engine is now incredibly competitive, and submitting your website to a huge number of search engines will only result in your email address being added to a large number of spam lists. Also essential is ensuring that the company's website appears in Internet searches. It should be ensured that the website's name is registered with all internet search engines. The number of times a particular term is searched over a period of time is the "search volume." If the organization is able to determine which keyword is searched the most frequently, it will be able to attract qualified traffic to its websites by using those keywords.

The legal and ethical context of an E-commerce enterprise: There are numerous legal and ethical considerations to make when utilizing the Internet and engaging in e-commerce. According to Turban et al., the government introduces e-commerce rules, and because it is a new area, new laws and regulations are issued based on experience and as events occur. Problematically, what is ethical may not be classed as criminal, and what is immoral may not be deemed illegal. Therefore, only time and experience will bridge the gap.

Conclusion

The concept and use of ecommerce in business transactions are expanding daily. Increasing numbers of businesses are employing this manner of transaction in addition to traditional techniques. This paper has covered topics such as solutions, security challenges, payment issues, the installation of an eCommerce platform, the marketing of eCommerce, and legal and ethical implications of this sort of activity. With the proper precautions, technological support, and effort, any company, including Thai Lay, is capable of constructing and operating a customer-beneficial ecommerce platform.

Reference

Boggs, Chris. (2008). SEO during E-Commerce application development.

E-commerce: 2009 definition, SearchCIO.com, Internet.

E Commerce implementation 2009, Web, SEO, and Promotion.com.

E-commerce security issues: customer security fundamentals in 2009, ECD, and on the web.

Electronic transactions in Europe in 2002, European Central Bank website.

Computer Management and Marketing Associates (2009). Web. Firewalls.

Method for E-Commerce development in Delhi, India, Wwbdhoom (2009). Web.

2009, Reh, John F., Pareto's principle-the 80-20 rule: meaning, About.com: Web management.

Merrill Warkentin, "Business to business electronic commerce: conclusion," Idea Group Inc (IGI) Web site, 2001.

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Subaru Company: Global Sourcing And Supply Chain Free Essay Help

Introduction

Supply chain management is an essential part of many modern businesses. It involves the inputs and outputs that flow from the supplier to the end user. There are the manufacturer, the wholesaler, and the retailer between the two parties. Global sourcing, on the other hand, entails acquiring goods and commodities from the global market and transporting them across several borders. The objective of the procedure is to capitalize on global efficiency in the supply of products and services. Numerous businesses utilize global sourcing to support their supply chain networks. Some multinational corporations that manufacture products in huge quantities obtain a portion of their materials from the foreign market. The move is intended to ensure the excellent quality of their final products.

Subaru Car Manufacturer is an example of a company that employs worldwide outsourcing. Fuji Heavy Industries is Subaru's parent business. Its headquarters are in Japan (Beamon 15). This firm holds 16.5% of Toyota's partnership interests. Subaru has branches in other nations, including the United States, where it is renowned for producing high-quality sports cars. In 1992, the corporation began outsourcing the development of automobile-related software and hardware.

In this case study, several concerns pertaining to the outsourcing part of Subaru Company are examined. They consist of an examination of the organization, inefficiencies, and risk management, a SWOT analysis of the outsourcing choices, and a discussion of selected alternatives.

Case Study on Sourcing and Supply Chain Management at the Subaru Corporation

Subaru Company does not manufacture every component required to assemble its automobiles. It only relates to the production of the automobile's interior components. Such components include the engine and transmission. It is also responsible for the production of several bodily components. The fabrication of the remaining components is outsourced to various specialized companies. The vehicle's computerized system is an example of such components. The systems enhance vehicle handling and control (Jean-Jacques 133).

The company signed a deal with Unisys Government, Inc. in 1992. The latter was designed to provide Subaru Company with communication-enhancing software and hardware technologies. The automaker demanded that Unisys Company create a regional processing center within the existing Subaru Data Center. The objective was to improve communication between the two businesses (Beamon 16). Currently, more than thirty people operate at the data processing facility outsourced by the automobile manufacturer. It should also be mentioned that Subaru does not produce its own tires. The corporation outsources the process to other businesses, such as Goodyear. In 2014, Subaru selected Goodyear as the leading manufacturer of the component.

Subaru and the tire manufacturer reached an agreement after many years of production processes. Goodyear manufactures tires that meet the standards of Subaru. Subaru also outsources other product components, such as car alarms, automatic vehicle locators, and horns, in addition to the components. The components are outsourced to Taiwanese partners (Jean-Jacques 137). Taiwan is well-known for producing these components. Other automobile and motorcycle manufacturers in other regions of the world source these products from the nation.

Tires, tracking systems, and communication devices are examples of components that Subaru Company obtains from the global market, as previously said. The outsourcing process is authorized after a comprehensive examination of the external markets. The analysis reveals what features buyers desire in their automobiles (Christopher 56). Consequently, Subaru outsources the production of these components dependent on the automobile model. As a result, the automaker produces a variety of vehicles. Each has distinguishing characteristics that set it apart from the others (Beamon 12).

Changes in external factors may influence the introduction of a new product. To do this, Subaru Company employs a variety of customer monitoring tools. Evaluation of the consumers is essential since it provides information that can be utilized to assess their opinions about items and the enhancements they may desire for existing models (Tracey and Vonderembse 13).

On the global market, Subaru Company is not the only company involved in the production of automobiles. In light of this, it is evident that market rivalry is fierce. To preserve and extend its market share, the company must ensure that it defeats its opponents and rivals (Rassameethes, Kurokawa and LeBlanc 290). External causes, such as an increase in demand for a certain automobile feature, may result in the introduction of a new product. It may be necessary to outsource the production of a number of components to new or established enterprises on the worldwide market. The proper supply chain management procedures and procurement channels must be followed. Before making any choice, several subsidiary management teams are consulted. The objective is to identify the ideal supplier for the outsourcing program.

Over time, Subaru Company has modified its policies and laws regarding the acquisition of various products from the international market. For expansion goals requiring new suppliers, management takes the time to evaluate prospective stakeholders. Decisions are made with the aid of data regarding the suppliers' product quality and production capability (Tracey and Vonderembse 13). Such initiatives are vital. They ensure that the company does not enter into any illegal contracts or agreements that could be detrimental to its business.

In regard to the outsourcing activities of Subaru Company, one of the procedures related with supply chain management is the authentication of the provider. The quality of the stakeholder's products, their costs, and their dependability are also crucial factors in supply chain management. Subaru automobiles are renowned for their sturdiness. It is one of the reasons why they are so popular among sports car fans worldwide. To retain its market position and reputation, the company must use high-quality raw materials and other inputs (Tracey and Vonderembse 17).

The quality of the final product is determined by a variety of factors, including the manufacturing and storage processes. Therefore, Subaru Company is responsible for this aspect. This is accomplished through inventory management. It is one of the supply chain management components. It is for this reason that Subaru Company has established laws and regulations governing the production, storage, and distribution of automobiles. The objective is to ensure that the final product's quality is not compromised (Klier and Rubenstein 34).

Due to technology advances, Subaru Company has introduced new automobile models. The new items conform to the specifications of the new technology. Given that consumers demand technologically advanced items, it is crucial for the company to stay abreast of industry developments. Customers anticipate that the products will meet their varied demands and objectives (Christopher 56). Technology is one of the external reasons that influenced Subaru Company's decision to construct a communications center. The organization requires communication services at an inexpensive price. An outsourcing scenario witnessed in 1992 is a classic example. It is crucial to observe how the company's management teams from different regions of the globe have managed their supplies and productions to improve the supplier-to-consumer flow.

Concerns Raised by the Case Study

Every business has its flaws. The obstacles might disrupt the company's operations if they are not addressed appropriately. For instance, there may be inefficiencies in the outsourcing program. Failure to evaluate the quality of services and products provided by an outsourced company might result in the demise of a business. It is dangerous to outsource the creation of components without monitoring the manufacturing process and the materials utilized to construct the devices (Hassini, Surti and Searcy 77).

Subaru Company appears to have complete faith in the businesses it outsources to. Sturgeon and Florida argue that this should not be the case (62). The automobile manufacturer stands to lose in the event of any unforeseen occurrences. The outsourced company, for its part, may not suffer, as it may continue to fulfill orders for other organizations. If the corporation fails to identify that the devices are defective, it will be accountable to the consumers.

The products may not be durable. The market will not hold the outsourced company accountable. In contrast, the dissatisfaction will be aimed at Subaru Manufacturing Company. This condition may decrease the market worth of Subaru's products. As an illustration, consider a situation that developed in 2014. A lawsuit was filed against the corporation over a defect found in several of its products. It was discovered that 2011-2014 Subaru Forester and 2013 Subaru Legacy models exhibited engine oil consumption issues. According to court documents, the defect was dangerous since it may cause engine failure. Customers were unhappy with the automobiles. They spent a great deal of money on car maintenance and repair (Sturgeon and Richard 72). The issue caused the company to lose numerous clients.

Future problems of this nature should be avoided by taking safeguards when getting into agreements with vendors (Rassameethes et al. 300). A clause in the contract that holds the outsourced company accountable for losses incurred due to poor product quality might protect Subaru Company's interests. Additionally, the firm might implement measures to evaluate the quality and standards of the outsourced products and services.

Subaru Company's production capacity is expanding at a steady rate. The expansion is intended to ensure that the company satisfies customer requests. To do this, the firm has operations in several regions of the globe. The various establishments are designed to bring services and goods closer to the market (Ramberg 415). Nonetheless, several of these services do not offer users with feedback at the appropriate frequency and speed.

Chain management entails defining how consumer-level delivery of products and services is handled. The processing time for a number of internet orders is excessive. In addition, goods delivery takes longer than anticipated (Christopher 23).

According to a survey done by the company, a significant number of customers believe that Subaru has let them down by failing to meet their needs on time. Customers are the lifeblood of any company enterprise. Problems with these market participants may result in market losses. Therefore, Subaru should endeavor to address this issue. The administration should be more aggressive in responding to inquiries from customers (Klier and Rubenstein 67). Additionally, the organization must verify that its website is operational. Consequently, the consumers' trust in the company's products will increase.

The finances of Subaru Company provide an additional bottleneck that must be addressed by management. The organization generates annual earnings from the selling of its automobiles (Ming-Ji and Yi-Pei 287). Included among the expenses incurred by the company are staff pay and maintenance fees. The majority of shipping costs associated with individual orders are covered by the clients. The corporation may fail due to poor handling of its finances. These potential dangers should be closely evaluated. Accounting and auditing of tax returns must be performed accurately (Christopher 73). If funds are not allocated to the correct operations, supply chain management and outsourcing could be hampered.

Subaru should also provide products at reasonable prices. In several instances, clients have complained about the excessive costs the corporation charges for its automobiles. The parent company's prices should likewise be made public. The objective is to ensure that all clients are informed of the price for a certain product. Putting prices in the public domain could also prevent subsidiary companies from inflating data for their own profit. The automobile industry is marked by intense competition. Subaru should recognize that price is a factor in this competitive matrix. Associated financial risks can be managed by implementing sound management and accounting practices.

A SWOT Analysis of Subaru Manufacturing Company's Available Alternatives

Subaru Company has distinct strengths and limitations, as revealed through an examination of its strengths and shortcomings. It can also capitalize on a variety of worldwide market opportunities to improve its future success. Nonetheless, a number of external forces threaten its market share. The threats must be addressed to ensure the company's future (Sturgeon and Florida 65).

Strengths

Subaru is a global brand with widespread recognition. The characteristic is among its strengths. In light of this, one of the identified strategies for addressing the issues of supply chain management involves reaching out to its global consumers (Hassini et al. 72). This option's power is closely linked to the company's global reach. Subaru Company has also won multiple World Rally Championship titles. Moreover, the items' use of cutting-edge technology, which enhances performance, contributes to their wide appeal. Consequently, the features will increase the firm's performance on the global market through its financial management. Regarding auditing of suppliers, this action will improve the quality of the organization's products. The disclosure of prices will improve consumer loyalty and transparency.

Weaknesses

These stakeholders may not be happy with the close supervision, which is one of the drawbacks of the option of auditing the performance of suppliers. Consequently, the two parties' relationship may become strained. Moreover, suppliers may increase the prices of their components to meet the company's expectations (Ming-Ji and Yi-Pei 290). Some of the company's distributors may be negatively affected by the release of the car prices. The reason for this is that they may lack the ability to set prices to cover their costs. Expenses differ from country to country. As a result of improving customer interactions, the company's operational expenses may grow. It is possible that more personnel and equipment will be required. In addition to increasing costs, proper financial management may necessitate outsourcing to auditing organizations.

Opportunities

All four methods may assist the company in capitalizing on worldwide market prospects. For instance, auditing of suppliers, publishing of prices, and improvement of customer relations may expand the target market of the organization. The corporation will have access to big, untapped markets such as Brazil. Supply chain management includes the marketing function. Marketing is an opportunity for the organization to enhance its reputation across multiple platforms. In addition, it can assist the business in expanding its consumer base. Effective management of financial accounts will go a long way toward achieving this objective (Sturgeon and Florida 54).

Threats

Some of the alternatives may enhance the dangers the

Managing Disciplinary Matters At The Workplace Free Essay Help

Introduction

The abuse of drugs, alcohol, and other substances is a worry for the vast majority of individuals. Employers are concerned about drug and substance abuse among their employees because it raises the likelihood of workplace accidents and injuries, absenteeism, decreased productivity, and harm to the user's health. In a report commissioned by the Health and Safety Executive (HSE) to determine the incidence of illegal drug use among the working population in the United Kingdom, 13% of respondents acknowledged using drugs in the previous year. There were thirty thousand participants in the study. The study also revealed that there was substantial age variation (Health and Safety Executive, 2004, p.14). Employers and human resource managers will continue to be concerned about the correlations between drug use and deficits in cognition, perception, motor skills, injuries, accidents, and job performance.

Approach to the situation

Different strategies have been developed over time to combat drug misuse in the workplace. One of the strategies employed is administering drug testing programs to determine if employees are abusing substances that could affect their work performance and decrease their productivity. Drug screening methods have proven to be too expensive for businesses who lack the financial means to implement them. In addition to this, there are various objections opposing the implementation of screening procedures by British labor unions. Their primary issue is that this has the potential to redirect focus away from other successful workplace drug prevention methods. Another viewpoint is that it should only be utilized when a known risk exists. Unions have also voiced concerns on the possibility of arbitrary use testing. Companies that lack the financial resources to establish drug screening programs frequently resort to other approaches, such as treatment, rehabilitation, and counseling for the affected employee, which are implemented in conjunction with workplace health promotion initiatives (Bohle&Quinlan, 2000, p.477)

Others have developed employee support programs to help their staff deal with a variety of challenges that interfere with the way they go about their duties. The primary objective of employee support programs, according to Bohlander & Snell (2007, p.515), is to assist employees in resolving their personal issues or preventing them from escalating in a manner that hinders their capacity to work efficiently. They elaborate on employee support programs by stating that they offer a variety of services, including diagnosis counseling, referrals for advice and treatment (if necessary) for alcohol or drug abuse-related problems, emotional challenges, financial difficulties, and family-related issues.

These discourses make it abundantly evident that there is no single solution to the problem of drug and alcohol addiction in the workplace, and that a combination of techniques, such as those listed above, can be a more effective means of tackling the issue.

Regarding this situation, the warehouse manager should consider employing the systematic progressive discipline strategy. In this strategy, the manager addresses problems with work performance in stages, and the repercussions for unacceptable behavior get increasingly severe with each repetition of the error or problem.

According to the Canadian Ministry of Labor (2008, pp. 1-2), this method saves time and money as compared to dismissing and employing a new employee. Using this strategy, the manager explains to the employee what is expected of them and why their behavior was inappropriate. According to the available evidence, this is the first time the forklift operator has encountered a disciplinary issue at work. The warehouse manager will then need to determine why the forklift operator was drinking before going to work and continued to drink while on the job. Was it due to work-related stress, ineptitude, finances, a family issue, or misconduct? This will assist the manager in determining what to do next (Para 3-4).

Odiorne (1990, p.152-154) explains that if the problem is due to incompetence, the manager must explain what will happen if the employee's performance does not improve. The employee is then given a period of time to improve their performance and is closely monitored and their work is evaluated on a regular basis. If performance improves, the manager focuses on other responsibilities; however, if performance does not improve, the manager is free to consider a dismissal, suspension, or recommend the employee for counseling, treatment, or any other option that takes into account the employee's situation and the company's goals. The management must also document what transpires throughout this process.

Guerin & Delpo (2009, p.130-132) suggest that if the manager identifies the problem as a case of misconduct, the person handling the case, in this case the manager, should assess the gravity of the misbehavior and attempt to determine what may have contributed to its occurrence. An investigation is useful for accomplishing this objective. It is critical to highlight that the shift manager reported this situation to the warehouse manager, who lacks firsthand knowledge of the case. If the issue is minimal, the manager should offer the employee a verbal warning and a letter to resolve the situation. The manager offers the employee a substantial amount of time to improve; if the employee's wrongdoing persists, the manager may suspend the employee or take other disciplinary action.

Significant repercussions of the case

The fact that the forklift operator arrived at work intoxicated and drove in the facility while intoxicated merits disciplinary action. According to Klingemann, Takala, and Hunt (1992, p.127), there is substantial doubt that alcohol drinking at work is connected with numerous negative outcomes. The Confederation of British Industries recognizes that alcohol abuse is a severe problem linked to job absenteeism and decreased productivity. Undoubtedly, a large loss may be linked to the forklift operator's inability to perform his tasks as expected. If the company disregards this incident, there is a possibility that the driver will continue drinking on the job. If this occurs, the employee's productivity will continue to decline, resulting in additional losses for the organization.

This case emphasizes the significance of warehouse security concerns. Driving a forklift and loading items is a delicate task that requires utmost caution from the operator. These grave safety concerns are to the driver's safety, the safety of other workers, and the safety of the factory's machines and other property. If the driver accidentally caused a catastrophic accident while working while intoxicated, the company would suffer significant costs. Dalton (1998, p. 215) says that if an employee's job requires driving, operating machinery, climbing ladders, or manipulating electrical equipment, or if alcohol may impair their functional capacity to perform their job, he or she must not consume any alcohol.

For warehouse operations to run smoothly, it is customary for staff to work and contribute to team efforts. Hall (2008) states that alcohol drinking hinders an individual's performance, damages the morale of other team members, and is a major factor to poor employee relations in many workplaces. Regarding this scenario, a confrontation is likely between the intoxicated forklift operator and the shift supervisor who reported his case to the warehouse manager. This conflict can lead to confrontations that could eventually have a significant impact on daily operations at the workplace.

Considering the potential harmful impact on the company's image and customer relations, this situation should be considered a disciplinary issue. Employees play a significant part in the success of corporate image advertising, according to Gregory & Wiechmann (1999, p. 193 & 197) who discuss corporate image advertising. A positive business image is proven to increase staff morale, retain and attract consumers, and inspire investor confidence. Since a company's corporate image is primarily utilized to reflect its corporate ideals, unfavorable publicity caused by an employee's actions could result in a loss of consumers, diminished investor confidence, and harm to the company's reputation. According to Bohlander & Snell (2007,p.566), employee conduct outside of the office not only harms a company's reputation, but it can also have a disruptive effect on the workplace, as other employees may acquire an unfavorable impression of their coworkers, causing friction at the workplace.

Strategy for addressing alcohol and drug addiction in the workplace

Due to the negative repercussions associated with alcohol abuse, alcohol-related issues in the workplace continue to be a serious issue that managers should take a great interest in addressing. Effective workplace policies should incorporate the input of all essential personnel and be tailored to the organizations that will implement them. Components of a policy will typically vary between businesses. This policy is comprised of four main sections and is focused on the need to foster a workplace that is protected from the detrimental effects of alcohol usage.

Code of conduct for staff

Frequently, a code of conduct is utilized to improve responsibility. The warehouse managers can create a code of behavior for all employees that takes into account the employees' professional backgrounds. Every new employee should be provided with a copy of the code that outlines the professional employee's responsibilities to the organization. Employees should also receive copies of the code that have been revised and updated in a timely manner.

Essential duties of the employee

Each employee is accountable to the employer for carrying out their tasks, obligations, and assignments in accordance with their contract or employment agreement. Each employee shall respect and abide by the broad ethical principles outlined in this code of conduct and the company's laws and regulations (Adapted from Standards of Ethical Conduct for Employees of the Executive Branch by United States office of government Ethics, 1994, p.3).

General ethical concepts

According to Lamberti (2005, p. 4), ethics are a collection of personal principles that are above and not subject to laws or policies that govern countries, professions, industries, or companies, and which ensure that people always do what is right. In contrast, a principle is a general norm that guides behavior or personal action. The company's ethical standards assist to guide employees in determining how to behave in various situations. The following list provides some examples of ethical guidelines that the warehouse can embrace to address the issue of workplace alcohol abuse.

Everyone should treat their coworkers with dignity and respect, since this provides strong employee relations, an important factor that encourages the smooth operation of the business. Everyone should uphold high moral standards and be sensitive of other people's feelings and rights. Everyone should accept responsibility and bear the repercussions of individual and group decisions. Everyone is responsible for making decisions that increase the value of the assets/equipment for which they are accountable. Everyone should endeavor to behave themselves with integrity and dependability (Adapted from Mass Mart code of ethical conduct, 2005).

Rules and restrictions governing workplace drinking

No employee will ever be permitted to consume alcohol while on job. Employees are prohibited from consuming alcohol before to or before reporting for duty; this includes lunch and official rest breaks. Personnel in official uniform who may be identified as firm employees are prohibited from entering bars that serve alcoholic beverages on or off duty. No employee identified as having ingested alcohol should be permitted to drive, operate machinery, or handle electrical equipment (Anderson,1996, p.23)

Disciplinary actions

According to Venkataratnam (2004, p.247), there are three primary strategies for dealing with disobedient personnel. The traditional approach prioritizes coercion and punishment. A basic premise of this strategy is that punishment is required to address violations from the expected workplace norms. The second technique is the judicial approach, which employs the principles of natural justice and gives the criminal every opportunity to present and explain their case. The humanistic approach focuses on fostering good interpersonal ties between the leader and the employee. There is an attempt to determine the origin of the problem, and the employee is offered assistance to help them overcome it.

Douglas McGregor developed an alternative method, which he termed the "Hot stove Rule." Douglas believes that an effective disciplinary system should possess the following qualities: forewarning, prompt action, consistency, and impersonality. Venkataratnam (2004, p.247). The warehouse manager is free to employ any of the four ways or a combination of the four approaches, but the following method is the most effective:

When the manager learns about or observes an employee's questionable behavior, he must summon the employee and express concern. The manager should investigate the problem's origins or order an investigation into the complaints. The manager should provide the employee with opportunities to enhance performance. The manager must closely monitor the case and maintain accurate documentation. If the manager observes no progress, he or she may opt to terminate the employee or take other corrective action.

Back up support for recognized problem drinkers

According to the Alberta Alcohol and Drug Abuse Commission (AADAC) (2006, p.1-3), there are numerous ways in which businesses can assist their employees in addressing the alcohol and drug problem in the workplace. These consist of:

Ensuring a good working environment (reducing hazard at the work place) Assuring that employees with personal concerns get the necessary support (counseling, treatment, Rehabilitation) Provide health-related details Include employees or their representatives in policy formulation. Introducing flexible work alternatives to assist employees in maintaining a work-family balance. Ensure that corporate events are conducted responsibly (for example by having no alcoholic drinks in work place social events).

Conclusion

Alcohol and drug abuse in the workplace is a big worry for employers due to its relationship with decreased productivity, absenteeism, and the possibility of injuries and accidents, all of which result in significant financial losses for an organization. In handling incidents of workplace indiscretion, managers should consider utilizing progressive discipline since it is more effective than other punitive techniques, such as immediate termination or suspension, at changing the employee's behavior. A workplace alcohol policy is unique to the organization that will implement it, although it should generally include language on the expected code of behaviour. The policy should also include rules and regulations for holding employees accountable, as well as provisions for assisting employees recognized as having an alcohol or drug issue, if the organization has the capacity to do so.

Reference

Anderson, P., 1995, Alcohol-less is better: report of the WHO European Conference on Health, Society, and Alcohol, Paris, France, 12-14 September. Web site: Paris: WHO Regional Office Europe

Alcohol and Drug Abuse Commission of Alberta (AADAC), 2006. Workplace Wellness and Health. Web.

Bohlander, G., & Snell, S. (2007). Managing Human Resources.14th edition. Cengage Learning, Stamford, Massachusetts.

Managing occupational health and safety: a multidisciplinary approach. Bohle, P., and M. Quinlan, 2000. South Yarra: Palgrave Macmillan Australia, 2nd Edition.

Safety, health, and environmental hazards in the workplace, by A. J. Dalton. The New York location of Cengage Learning EMEA.

Gregory, J.R., and J.G. Wiechmann, 1999, Marketing corporate image: the firm as your most valuable product.

Chicago: McGraw-Hill Professional, second edition.

Guerin, L., and A. DelPo, 2009. Managing Difficult Employees: A Legal Guide. California: Nolo.

Criminal Law and Procedure, 5th Edition, Hall, D.E. (2008), New York: Cengage Learning.

HSE is the Health and Safety Executive (2004). The scope and effects of employee drug abuse. Prepared for the Health and Safety Executive by Cardiff University. Web.

Resources humaines et Développement des compétences Canada, 2008.

Progressive discipline. Web.

Klingemann, H, Takala, J. P, & Hun, G. (1992). Cure, care, or control: the treatment of alcoholism in sixteen countries. New York: SUNY Press

Lamberti, M.J. (2005). Web-based Massmart Code of Ethical Conduct.

The human side of management: management by integration and self-control, by G. Odiorne, 1990. Lexington Books, in Lexington, Kentucky.

The United States Office of Government Ethics., 1994, Standards of Ethical Conduct for Executive Branch Employees. State of Pennsylvania: Diane Publishing

Personnel Management and Human Resources, by Venkataratnam.C.S., 2004. New Delhi: Tata McGraw-Hill.

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Advanced Information Systems Application For Manabanit Motors Free Essay Help

Introduction

A corporation introduces itself as Manabanit Motors Inc. and its fleet of cars, the new face that must be reintroduced to the high-tech sales and marketing world. Since the 1950s, the traditional Manabanit Automobile has existed. It was essentially a small company that averaged between 100,000 and 150,000 autos each year. As the years passed, the administration perfected the Manabanit Automobile Production System — this is the Asian method for obtaining mass production efficiencies with modest volumes.

Manabanit expanded to become export-focused and began to establish manufacturing facilities in several countries, including the United States, utilizing the notion of the Asian production system without implementing the current trend in Information Systems. Several of its managers initiated production-enhancing experiments. A Japanese manager introduced the production concepts of kaizen and kanban. Kaizen refers to constant improvement. (Imai, 1986, p. 2)

Engineers from Manabanit shortened or shortened some production phases to save time and increase flexibility. However, Manabanit engineers and automakers found the application of SFAS peculiar.

Manabanit was able to reap the benefits of the flexible manufacturing processes of the Manabanit Production System while it was still a struggling small business. The principle of continuous improvement is in fact ongoing and admirable. The corporation went global and created manufacturing facilities in numerous countries. Manabanit has retained its personnel, ensuring that employees remain with the company for an extended length of time despite the economic downturn. Additionally, the company has maintained and expanded its target market throughout time.

The company is a knowledge-based organization, but it is unclear how it would give this massive knowledge and information to its database. Manabanit must introduce the SFAS in order to go global and compete with other major automakers in the world. It has created a database of information, but this database must be web-enabled to accommodate the increasing number of clients who have had their unique autos appraised. Actually, these are Asian automobiles with an original design that are compact and lightweight, efficient, and inexpensive.

The salespeople are accustomed to the manual system, which requires the completion of flyers, booklets, and a great deal of paperwork. This is the reason why it has not adopted the new automation and SFAS, which would have reduced paperwork, enhanced the database, and reduced the amount of time spent on administrative tasks.

A consultant offered to Manabanit's management the reasons why the company should automate its system operations, but management opposed the proposal, stating that its salespeople are more effective than computers. In addition, it would necessitate more sales training and the purchase of desktops, laptops, and other mobile communications tools. The office would require new equipment for renovation.

Years passed, and the company's growth was consistent. Global corporations were forced to yield to the demands of the times. The Internet and information technology have gained popularity. The Internet was introduced. Manabanit Motors went online, created a website, and automated its expanding sales force as a result of the company's new administration, which consisted of young, ambitious executives. The company's loyal clients and stakeholders were becoming concerned about the availability of new, efficient salesmen. Customers desired to interact with the company over the Internet, but there was no means for them to do so other than through the traditional complaint desk staffed by an inefficient customer relations representative or by mail.

Here is Manabanit Motors's SFAS proposal.

Overview of the Application for the Sales-Force Automation System

This sales force automation system consists of marketing, customer support, product processing, and order entry. Additionally, applications include contact managers, which entails the automation of calendar and address book applications, databases, and workflow engines. Boehm and Jain (2007), on page 777

The applications can be linked to web-enabled goods that connect the mobile workforce, which consists of marketing analysts and customer sales reps who can give information about customers, products, and competitors. (Baran et al., 2008, p. 304)

Automation will reduce paper-intensive procedures, such as documenting and reporting of sales and service or customer order placement. Therefore, automation can improve targeted marketing, reduce expenses, and boost sales. SFAS can reduce the amount of tedious paperwork and paper ledgers and brochures. (Docstoc.com, 2009)

In addition, this will enable the use of PCs, laptops, mobile communication, and cutting-edge technology. Manabanit Motors is certain of receiving a return on investment (ROI) as quickly as feasible. Customers can have close interactions with salespeople. They are able to log consumer interactions and input all necessary data into the system. The benefits of utilizing SFAS range from cost savings to an increase in consumers for the business.

CRM systems or the use of the internet to support and respond to consumer requirements and complaints expedites customer care. Online billing minimizes the use of paper invoices. Utilizing the internet through the organization's website is one way for the corporation to save millions of dollars and reduce client effort. There will be increased engagement between customers and corporate representatives as a result of the company's utilization of their website's customer service. Customer service is available around-the-clock, seven days per week. That is a significant amount of time and cost savings for the organization, as well as an increase in client interaction that will increase customer satisfaction. Customers can use their credit cards to pay their bills through the websites. This procedure saves time and money compared to visiting the company's billing office. With online invoicing and payments, the cycle is reduced from over a month to approximately six days.

Other businesses also utilize instant messaging (or text messaging) to respond to client complaints and product feedback.

The majority of sales-force automation solutions require field-based salespeople or company representatives to utilize notebook computers that contain customer information and other vital data. The laptop is pre-loaded with data manipulation and form-filling software that is conveniently accessible to salespeople. Personal digital assistants (PDAs) are portable devices that link organizational information systems via the internet. The field sales representative can quickly connect online to the company's information systems, allowing for the automatic storage of information and data. Product information that the customer and sales representative may choose to discuss on the spot is readily accessible. The salespeople can enter all the necessary information into the company's system and main office, forward this information to the order-processing department or to the manufacturing unit if the customer desires a custom-made product, and the manufacturing unit can prepare the product in the shortest time possible.

Using PDAs and other mobile communication technologies, salespeople can connect to the internet to verify costs, confirm the availability of the customer's desired products, and immediately place an order. The salesmen can place the order from the field without returning to the office.

The proposed Manabanit data flow diagram

This data flow diagram's strength is that it depicts the system's overall structure without the specifics of the many steps and operations. This is highly significant in a company's vertical structure when the company's upper echelons oversee the system directly, including salespeople and field employees. It is more essential when presenting systems to management and other business professionals.

DFD diagram Context Level for Manabanit Motors' makeshift SFAS

This is a simple diagram consisting of two entities: the customer and the Manabanit Motors customer information and validation system, as well as the customer registration procedure.

The process begins with the customer's online registration and product order (ex. Manabanit car). It then flows to the process of accepting orders from clients (at one of the stores), which is validated as 'valid or invalid orders', i.e., the system verifies whether the order corresponds to products available from the stock inventory or products made by the company. (Holden, 1992, p. 164)

If the order is valid and the goods is in stock, the Manabanit database will validate and send the customer a letter of approval.

DFD diagram at Level 0

Level 0 describes in full the procedure by which the customer sends a hard copy of the Order form. The customer will fill out the form that provides the product description he or she wishes to order. The order is subsequently transferred to the company's customer service department. The order is then validated by company personnel to determine if it is valid or invalid. If the order does not fulfill the requirements, such as the product not being in stock or the customer already having credit, the order is denied and sent back to the client, while the process is recorded in the "rejected customer database." If the order is valid, a letter of offer alerting the customer that the order has been accepted is issued, and the procedure is recorded in the customer database.

DFD diagram at Level 1

The procedure at Level 1 involves the internal workings of order processing. Customer support enters the order into the database for verification. If so, the order is accepted and a letter of offer to the customer is issued, alerting the consumer that the order has been accepted. If the order is invalid, the customer is sent a rejection notice. The procedure is recorded in the client database.

DFD Diagram at Level 2

The order flow details include billing information that travels to another procedure called "invoices." In addition to client information and order details, the'receive orders from customers' process contains additional information that may result in the delivery of the automobile. This is because Manabanit Motors also accepts custom-built orders from consumers, and the subsequent step is either manufacturing or warehousing (but it can also be from the warehouse).

Conclusion

This new SFAS has many advantages over the company's previous system, which was not web-enabled. The invoice-to-payment period was not shortened; the customer was required to pay for the product at the branch office. This innovative approach facilitates the payment of parts or components and cars via Internet-based order processing. Customers are able to pay with credit cards.

SFAS delivers the organization process simplification. As the previous management had anticipated, this appeared to add complexity to the company's procedures, a great deal of effort and training, and additional costs. However, the complexity proved to be a simplification and made the salespeople's work simple. In the field, salespeople can immediately input a great deal of information about customers, the environment, and problems that may not yet exist, but which they can foresee. In addition, staff and management can assess the operation, market behavior, and unforeseen challenges within the organization. Management and staff can immediately implement measures and provide solutions. This is also a form of risk management. SFAS has much more work to do in international business.

References

Baran, R. J, Galka, R. J. and Strunk, D. P., 2008. Relationship management with customers. 304. Thomson South-Western, Mason, Ohio.

Berztiss, A. T., 1994. Natural and formal languages are utilized in the creation of information systems. Applications of natural language to information systems. In R. P. van de Riet, J.F.M. Burg, and A.J. van der Vos (eds. ), Applications of natural language to information systems. page 8: IOS Press/Lavis Marketing, Oxford, England.

Project termination does not equal project failure, according to Boehm (2000). (2000). Software engineering: Barry W. Boehm's lifetime contributions to software development, management, and research. Edited by R. Selby. John Wiley & Sons, Inc., New Jersey, page 737.

2007; Boehm, B. W., and A. Jain. Initial value-based software engineering theory (2005). Software engineering: Barry W. Boehm's lifetime contributions to software development, management, and research. Edited by R. Selby. John Wiley & Sons, Inc., New Jersey, page 777.

Docstoc.com, 2009. Web-based DFD (Data Flow Diagram) Examples.

Gaudes, A., 2001. Information technology makes possible virtual transactional and relational transactions. In: Managing information technology in a global economy, edited by M. Khosrowpour. 539. Idea Group Publishing, London, UK.

Hasibuan, Z. A. and Santoso, H. B., 2004. Online academic administration system to assist distant learning at the Indonesian university's faculty of computer science. Web.

A knowledge-based technique for the process modeling of information systems: the item life cycle diagram (Holden, S. I., 1992). In: P. Loucopoulos (ed. ), Advanced information systems engineering: proceedings of the fourth international conference CAiSE '92 held in Manchester, United Kingdom in May 1992. Manchester, UK: Springer-Verlag. p. 164.

M. Imai, Kaizen, London: Random House, 1986, p. 2.

1992. Jesus, L., and Carapuca, R. Information system documentation produced automatically. In: P. Loucopoulos (ed. ), Advanced information systems engineering: proceedings of the fourth international conference CAiSE '92 held in Manchester, United Kingdom in May 1992. Manchester, UK: Springer-Verlag. p. 48.

Royce, W., 2007. Introduction. Software engineering: Barry W. Boehm's lifetime contributions to software development, management, and research. Edited by R. Selby. 315 John Wiley & Sons, Inc., New Jersey.

Value-based software engineering was published in 2007 by K. J. Sullivan. Software engineering: Barry W. Boehm's lifetime contributions to software development, management, and research. Edited by R. Selby. John Wiley & Sons, Inc., New Jersey, page 731.

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Multinational Corporations: Cultural Implications And Employee Voice Free Essay Help

Introduction

The cultural implications of the host country play a crucial role in decision-making for international enterprises. As with any other company domain, for instance, partner communications, staff management, and their expectations vary based on culture. In the United States, for instance, it is normal to use informal names in business correspondence. Similarly, in the majority of European nations, one must utilize titles while addressing coworkers (Reynolds, 2017). With employee voice, employees have varying expectations regarding their participation in the firm's management and inclusion of their perspectives when making arrangements, either directly or through representatives.

MNCs is an abbreviation for "multinational corporation," which refers to a business that operates in multiple nations. Culture lacks a cohesive and widely accepted definition. According to Hofstede, this phenomenon might be viewed as "collective mental programming of the human mind" (Compare countries, no date, para 1). Culture influences the habits and expectations of employees, such as their attitudes toward participation in the firm's decision-making, from a business perspective. Next, employee voice is a collection of structures and processes that allow employees to participate in a company's decision-making process (Boxall and Purcell, 2013).

These three concepts are interconnected because multinational corporations (MNCs) operate in multiple countries with diverse cultures, which impacts the employees' and outsiders' expectations regarding the significance of employees' voice and their participation in the firm's decision-making. This study examines the role of culture in the context of employee voice for multinational corporations.

Employee Opinion

In certain nations, employee voice is deemed crucial, yet in others, it is perceived as something that does not add to the outstanding decision-making and management of an organization. Wilkinson, Barry, and Morrison propose an alternative definition of the idea of "employee voice" to the one included in the beginning of this study (2020, p. 100677) —“employee voice” refers to all the means by which employees strive to have a say in and influence their work and the operation of their organization. ’ Examples include integrating employees in the company's planning process, communicating with employee unions to reflect on existing policies, as well as various forms of communication.

Aside from decision-making, employees frequently have insights on workplace issues, such as illegal actions by coworkers or unethical commercial practices. CIPD (2020, para. 5) notes that whistleblowing is an example of employee voice when an employee expresses concerns about an issue to either management or a regulator. Included among the topics that employees may wish to discuss are illegal conduct and hazardous working conditions.

This is an example of the so-called "speak up culture," in which employees are encouraged to discuss issues rather than ignoring them. According to the Public Interest Disclosure Act of 1998, these whistleblowers get legal protection (CIPD, 2020). Therefore, employee voice is a sort of participation in the firm's decision-making and control over its ethical and legal procedures.

Various Forms of Employee Voice

There are a variety of ways in which employee voice might manifest; for instance, it can be direct or indirect, individual or collective. Aside from these categories, which are related to cultural differences between nations, in some jurisdictions employee voice is not recognized as a necessary component of company governance. Due to their social hierarchies, India and China do not historically prioritize the inclusion of personnel in management, for instance (Warner, 2018). In many states, therefore, providing employees a voice is not deemed necessary.

With both direct and indirect representation, the emphasis is on how employees express their thoughts. Either each person does this independently, or the personnel choose representatives of their collective opinion. Direct voice is defined by Cvenkel (2020) as an employee's access to a two-way communication channel with their management. Examples include open-door policy, in which any employee may approach a supervisor, and team briefings. Various sorts of assessments, including 360-degree reviews and performance evaluations, as well as team briefings, offer the chance to discuss concerns (Ruck, 2017).

In most Anglo-Saxon countries, including the United Kingdom, Australia, and the United States, direct voice is preferred. In indirect speech, a representative instead of each employee talks with the company (Kwon and Farndale, 2020). Work committees, councils, such as the European Work Council, and trade unions are examples. France, Sweden, and Germany are among the European nations that continue to support this style of representation.

Employee feedback can pertain to various aspects of a company's operations. Other examples include working environment, remuneration, rules and procedures (Wilkinson, Barry, and Morrison, 2020). In some nations in Germany, for instance, a work council dubbed EWC is required to approve decisions that would effect the employees (What is the difference between a German- and French-style EWC?, no date). Due to the considerable engagement of these councils in the operation of the company, several multinational corporations have opposed their regulatory authority.

Cultural Implications

In jurisdictions where employee input is seen essential for corporate decision-making, the notion is that it adds to the success of the organization. According to Ruck, Welch, and Menara (2017, p. 904), "employee engagement is recognized as essential to organizational effectiveness and as a factor in achieving innovation and competitiveness."

The cultural variations and differing perspectives on employee voice between host countries and home states often lead to misunderstandings between management and workers. For instance, if a CEO comes from a culture where employee voice is respected, but works in China, where this idea is meaningless, they may be unable to make appropriate judgments since employees will be unable to participate in the planning.

In addition to differing perspectives on the importance of employee voice, there are several approaches to employee representation in organizations. There might be a direct or indirect expression of an employee's voice, as well as a distinction between the preferred forms of the host and home states. Examples of indirect representation are munitions, trade committees, and work councils, in which one or more employees are appointed by their peers to express the views of the majority.

France, Germany, and Sweden are countries that favor indirect voice (Cvenkel, 2020). State per state, attitudes towards labor unions and work councils vary. Cullinane et al. (2017) provide a case study based on the 2002/14/EC Directive, which governs business communications. This regulation was intended to establish a status for employer-employee contacts in the United Kingdom and Ireland, when no such framework existed previously. Previously, employee voice regulations were largely voluntary and controversial, thus this order helped to the enhancement of non-union communication.

Therefore, direct representation requires hearing each individual's perspective separately. This sort of employee voice is becoming increasingly significant, and more governments are accepting it. For instance, "South Africa has transitioned from autocratic racial Fordism to more inclusive paradigms that combine collective bargaining and direct forms of voice" (Wilkinson et al., 2018, p. 711). This shift is comparable to China's, which involved the blending of Westernized techniques with indigenous customs.

From a theoretical standpoint, Hofstede's Cultural Dimensions serve to explain differences in employee voice perception and representation kinds. This paradigm was established using a cross-cultural communications theory as its foundation. According to this theory, there are five primary domains that can be used to evaluate a culture: Power Distance (PDI), Individualism vs. Collectivism (IDV), Masculinity vs. Femininity (MAS), Uncertainty Avoidance (UAI), and Long-Term Orientation (LTO) (National culture, no date, para. 1).

Each of these categories represents the distinct preferences of the residents of this state. In states where individualism trumps collectivism, for instance, individual representation will be prized above trade unions and work commissions, and vice versa. Likewise, power distance may explain why certain regimes, such as India and China, do not promote the use of employee voice.

Hofstede’s culture dimensions can be employed to study the preferences of employee voice manifestation in different situations due to the fact that culture is a collective programming that develops specific mental patterns, allowing one set of individuals to be distinguished from another. However, its shortcoming is the dynamic nature of globalization and international business.

Case Studies

In the United States and the majority of European nations, employee input is a crucial factor in business decision-making. In China and India, however, the concept of employee voice is less significant than in Western nations. In their presentation of the hybrid model, Huang, Weng, and Hsieh (2016) discuss a case study from these nations that demonstrates how using employee voice in a culture that does not accept this concept can be detrimental to the firm.

According to the writers, "the absence of employee voice has become a major issue in China" (Huang, Weng, and Hsieh, 2016, p. 19). This may indicate that the global corporate culture has had an impact on China, resulting in varied approaches to corporate governance among local enterprises. According to the authors' study, the concept of employee voice in China has shifted in recent years, with many adopting a more Western approach.

In an effort to blend the global and local corporate and national cultures, a hybrid model known as 'democratic management' arose, which allows employees to participate in the decision-making of MNCs. Clearly, this is a product of global impact and the necessity to adapt to global governance techniques, but this does not imply that all local particulars have been highlighted.

The nature of employee voice preferences is evolving in both the European and American governments. Bryson et al. (2019) explore the Anglo-American approach, which has generally favored indirect employee participation through unions. In Canada, the United States, and the United Kingdom, trade unions that were popular throughout the industrial age are now on the decrease. Bryson et al. (2019) hypothesize that this is due to a shift in employee preferences from a preference for indirect representation to a preference for the direct voice. Instead, corporations and employees in these Anglo-Saxon nations adopt the ‘never-memberships’ and alternate voice models.

Intriguingly, the notion of employee voice and human resource management implies that indirect employee voice is still favored in some nations, such as the United States and the United Kingdom. Recent research by Bryson et al. (2019) demonstrates a gradual loss in the unions' influence, which is causing certain perception shifts about employee voice.

Consequently, one must be aware of cultural nuances, such as a preference for indirect representation and participation, and comprehend the new forms of employee voice. For instance, Holland, Cooper, and Hecker (2016, p. 2621) identify social media as a new type of worker representation since social media sites have evolved into ‘powerful communication tools both inside and outside the workplace. ’

Implications for multinational corporations

The culture of the host country should influence the management strategy of multinational corporations. This is essential because, as demonstrated in the preceding sections, there are considerable disparities in how various nations view employee voice, which can lead to problems with corporate decision-making. According to CIPD (2020), research indicate that the usage of employee voice contributes to the performance of a company since it influences the well-being and motivation of employees, as well as productivity, innovation, and the reduction of workplace conflicts. Tsang and Yan (2018, p. 3) reach similar conclusions, saying that employee voice adds to a ‘discretionary vocal exchange of ideas, proposals, or opinions with the goal of enhancing organizational functioning. ’

Changing a governance structure on a country-by-country basis may provide difficulties for multinational corporations. This presents the difficulty of designing a unified system that takes into account national variances in employee voice attitudes or is adaptable enough to allow for the modification of these practices. Global standards and local responsiveness, as defined by Bartlett and Ghoshall, are two widely acknowledged strategies for multinational corporations to manage employee input (Cvenkel, 2020).

The former entails aligning branches in different states with the objective of establishing a transparent system. This strategy is market-efficient and fosters a sense of parity across sub-branches. The latter entails modifying the system country by country. Respect for the local values and traditions is the foundation of local responsiveness, which helps retain the commitment of the workforce.

The MMC's work in this sector can be explained using Perlmutter's ERPG model. "ethnocentric, polycentric, and geocentric" are the three dimensions of Perlmutter's ERPG paradigm (Cvenkel, 2020, p. 67). The first aspect entails employing employee voice practices from the host country, the second from the MNC's home country, and the third allows for the selection of the most suitable strategy.

Consequently, multinational corporations must balance global uniformity and local responsiveness in their employee voice programs.

Case Studies

To understand the significance of employee voice, one must examine case studies that highlight the challenges faced by management when employee voice is misinterpreted. Hyman (2018) addresses employee voice perspectives in China, where trade unions are federated but there is little genuine connection between representatives and management. In addition, the Chinese ACTFU is the only legal trade union in the state, and all other unions must be affiliated with it. Therefore, this approach may be odd for a manager from an Anglo-Saxon country who views labor unions as independent organizations.

Belizon (2018) compiled a sample of replies from 240 multinational corporations operating in Spain to determine the challenges they experienced. First, the study emphasizes that numerous U.S. corporations refuse to participate in employee representation systems. This is problematic since in several European Union nations, employers are required by law to cooperate with unions, and refusal to do so leads in fines (Belizon, 2018).

In several of these Western European nations, including Spain, enterprises employing more than fifty people are required by law to have a formal affiliation with a union or representative organisation.

Belizon (2018) believes, based on the author's study, that British MNCs operating in Spain often adopt a localized strategy and adhere to an employee voice structure that is approved in Spain — formal cooperation with indirect representatives. United States multinational corporations tend to avoid collaborating with unions in host nations, but in Spain, they are legally required to do so. Still, Belizon (2018) concludes that US-based MNCs favor direct representation even in Spain.

This case study suggests that employee voice is affected by multiple factors, including the culture of the host state, legislations, and the preferences of the MNC’s home state, as shown by

GM And Ford Financial Analysis Free Essay Help

Executive Synopsis

Ford and General Motors are the leading automakers in the United States. This research focused on the American economy and its automotive industry to identify their operations throughout the past five years. At the same time, qualitative and quantitative analyses were undertaken on the organizational structures of each of these organizations. Based on this investigation, it was determined that the companies' operations have improved since 2009 as a consequence of their ever-increasing profitability, despite the challenging economic climate. Thus, many organizations have modified their business strategies to accommodate the current market conditions and to ensure their operations' short- and long-term viability.

The Economic Condition of the United States

Physically, the United States of America is one of the largest nations in the world. As of mid-2011, the estimated population of the United States was 311 million. Despite the global recession that has existed since the beginning of the 21st century, the United States has maintained relatively constant economic growth. In 2011, the United States reported a GDP of $15 trillion (Dooley, 2011). This made the United States the largest economy on earth. In terms of purchasing power parity, the United States continues to lead. It accounts for roughly 20% of the global purchasing power parity. Similarly, the nation's industries operate effectively and efficiently. Due to this, the nation has also been able to sustain a robust economic production. In 2011, the US reported a per capita GDP of $48,387. (Dooley, 2011).

Nonetheless, the world has been undergoing a worldwide economic crisis since 2007. Analysts estimate this current financial crisis to be the worst since the Great Depression of the 1930s (Drazen, 2011). This worldwide economic crisis has been marked by the failure of large financial institutions, a decline in stock market activity, and national government bailouts of banks. Inflation has been a major factor in this catastrophe. The value of numerous national currencies, including the dollar, has decreased. This is due to a decrease in global economic activity and the devaluation of national securities (Frankel, 2011). As a result of the global financial crisis, the economy of the United States has been facing some negative effects. During the fourth quarter of 2008 and the first quarter of 2009, the U.S. gross domestic product (GDP) was reported to have decreased by 6% due to a reduction in the production of products and services by domestic enterprises and domestic labor. Additionally, unemployment surged to 10.1%, the highest level since 1983. (Hatzius, 2011).

This issue has affected nearly every element of the American economy. This includes the car industry, which has been thriving for decades. GM, Ford, and Chrysler, the titans of the industry, have suffered the most. The deterioration in their sales numbers and general economic performance in the United States and the rest of the world is evidence of this.

American Automotive Industry

The automobile business began in the 1890s and expanded to become one of the world's largest (Gourinchas, 2011). This resulted from the United States' enormous domestic market, which still exists. The innovation of mass production technologies was another factor that led to the company's explosive rise. This increased manufacturing pace and efficiency to satisfy the rising demand for autos in the United States. Consequently, the United States had the greatest automobile industry until it was surpassed by Japan in the 1980s and then by China in 2009. (Frankel, 2011). In 2010, the United States produced around 7.5 million vehicles on its own. This number reflected a drop from the early 2000s, when the nation produced an average of 15 million vehicles each year.

Since its inception, the automobile industry in the United States has been able to supply millions of Americans with employment prior to the 2007-2012 recession (Marchewka, 2011). This number, however, has been falling as a result of severe economic conditions and the advent of fierce competition, particularly from foreign companies such as Toyota and Honda. In 2009, the market share of the big three had fallen to a record low of 42%, and estimates indicate that this ratio would continue to decline in the following years (CAR, 2011). Between 1986 and 2011, the graph below depicts the market share of the Big Three (Detroit businesses) versus international companies (CAR, 2011).

It is obvious from the graph above that local enterprises are losing market share to multinational competitors. This is a strong evidence of the intense competition currently present in the automotive sector. Due to its dynamism, the automobile industry has been able to attract $25 billion in direct foreign investments during the past few years. This has allowed the industry to expand into regions without a history of automobile manufacture. At the start of the 2008 recession, the larger manufacturing industry contributed 11.5%, with the automotive industry contributing 2.2%. (CAR, 2011). The table below summarizes the 2008 contributions of several industries to the US economy (CAR, 2011).

Since 2008, the prevailing economic downturn can be traced back to the housing market. Up until some point in 2006, the housing market was thriving. This was due to low interest rates and lax restrictions (CAR, 2011). However, as many analysts had predicted, the conclusion of the housing boom had severe repercussions for the U.S. economy. During the housing boom, surplus vehicles were purchased. This was made possible by the availability of funds. Since the turn of the 21st century, the US automobile sector has produced an average of 15 million vehicles year, with the year 2000 reaching a record of 17.4 million. The table below depicts annual vehicle sales from 1992 to 2009 (CAR, 2011).

This increase in sales prompted automotive industry participants to raise their production. Due to the availability of capital from sales, investors, and 9/11 manufacturer incentives, the automobile industry expanded into broad regions of the United States in order to supply the public's demand for vehicles. As the economic downturn began, however, banks and other lending institutions increased their lending rates. Additionally, job security became a concern. Due to this, the number of persons who could acquire automobiles drastically decreased, resulting in an oversupply. However, as more rigorous measures have been implemented to combat the economic slowdown, the availability of credit has increased over time. Simultaneously, manufacturers, suppliers, and dealers in the automobile sector have developed strategic marketing programs that have increased the number of unit sales of vehicles in the United States. In addition, it is anticipated that yearly sales would stabilize at roughly 15 million units per year by 2015. (CAR, 2011). These numbers indicate that the automobile industry in the United States will restore its vitality and become sustainable in both the short and long term.

General Motors (GM)

GM has been considered the world's largest firm by virtue of its size until recent years. However, Wal-Mart has held this distinction for numerous years. However, the organization has been suffering significant adversities that have impacted the way its system operates. In order to reach its current status, the company has overcome numerous obstacles. This includes the rise in fuel prices, decline in auto sales, huge layoffs, and buyouts. These issues have reduced the company's sales by 12%. (GM, 2011). Simultaneously, the corporation suffered a $39 billion loss. It was the US government's initiative, through loans and investment programs, to revitalize the corporation (CAR, 2011).

Since its founding in 1908, GM has become the premier worldwide vehicle manufacturer. The company's headquarters are located in Detroit, Michigan. As of 2011, GM operated in 157 countries and employed 202,000 individuals worldwide. In 31 of the 157 countries in which the corporation is active, it manufactures and distributes automobiles under the following brand names:

Buick GMC Chevrolet Cadillac Opel Vauxhall Holden

In response to the global economic slump that began in 2008, GM developed a number of policies and tactics that enabled it to improve its operations. This strategy plan has played a crucial role in enhancing its operations. At the end of its 2011 fiscal year, GM was able to once again achieve profitability. The corporation had $150.28 billion in revenue, $9.287 billion in operating income, and $7.585 billion in net income (GM, 2011). During the time between 2008 and 2010, all of these figures grew relative to their predecessors. In addition, GM's total assets at the end of its 2011 fiscal year were valued at $144.6 billion. The company's equity was also $38.99 billion. Given the improvement in the company's operations and the fact that the automotive industry in the United States is improving due to the development of a favorable economic climate in the United States and around the world, it is anticipated that the company's sales will increase over the next few years. This will push the corporation to increase output to fulfill market demand and maintain a competitive advantage over its rivals.

Ford Motor Corporation

Ford Motor Company is a global automobile manufacturer. The company's headquarters is in Detroit, Michigan. Ford Motor Company, along with General Motors and Chrysler, is one of the "big three" in the U.S. automobile industry due to its successful operations. The corporation is the second largest in the United States automotive sector. In 2010 the corporation was rated fifth in the world in terms of car sales (Ford, 2011). Henry Ford was the founder of Ford Motor Company in 1903. In addition to Ford and Lincoln, Ford is a shareholder in Mazda and Aston Martin. In 2008, at the beginning of the recession, Ford sold its Land Rover and Jaguar brands to Tata Automobiles, an Indian firm. The business sold Volvo to Geely Automobiles later in 2010. The majority of the company's shares are owned by the Ford family. Consequently, they control the company's operations.

As previously said, Ford was listed as the fifth largest automaker in the world. This occurred after the following businesses:

Mitsubishi General Motors Volkswagen Hyundai Motor Company.

In terms of revenue generated in 2010, Ford Motor Company ranked fifth in the European automobile industry. In the United States, the company ranked ninth overall in 2009 sales compared to all companies based in the country (Ford, 2011). In 2009, the corporation generated $118.3 billion in annual revenue. Ford produced nearly 5 million vehicles in 2008, according to the company's disclosed data. Nonetheless, this number falls to 4.18 million. This was due to the economic recession that was impacting the United States economy, including the automotive industry. At this time, the company's debts were enormous. In 2010, the corporation reported a $6.6 billion profit, representing a turnaround. Simultaneously, the corporation lowered its debt from approximately $34 billion to $14.5 billion. The corporation has 90 factories with a global staff of 213,000. (Ford, 2011). Ford Motor Company has manufactured multiple vehicles under its brand name. Additionally, the firm has subsidiary brands under which it makes additional automobiles. These consist of:

Lincoln Edsel Merkur Volvo Aston Martin The Jaguar Land Rover brand

In addition to producing automobiles, the company also produces trucks, buses, tractors, and vehicle components. The company's extensive selection of automobiles has played a crucial part in guaranteeing its overall success. Ford Motor Company has devised sustainable plans and processes that have allowed it to endure these challenging times despite the company's sales, revenue, and other issues during the current economic slump. Similar to the automotive sector, the company's future is bright. It is anticipated that automobile sales would rise in the years to come. In order to meet the demand, tastes, and preferences of its clients and the market as a whole, the company has initiated big preparations to expand its manufacturing lines.

Review of Operations

Both of these businesses are worldwide in scope (Sign, 2009). Ford's primary operations are headquartered in the United States. The corporation has numerous manufacturing facilities across the nation. These plants have played a significant role in its value chain operations, ensuring that automobiles are made in the most cost-effective manner, hence satisfying the needs and budgets of their target markets. Midway through 2010, the business had sold over 4,6 million automobiles in the United States alone. This number increased by 17% in comparison to 2009. According to financial analysts, this surge in sales was due to the return of business clients, the majority of whom had left the market due to the crisis in 2008. During the same year, dealership sales climbed by 13%, while fleet sales increased by 32%. (Frankel, 2011).

Ford has chances in Europe as well. With its subsidiaries Ford Britain and Ford Germany, the business has been able to produce vehicles that satisfy European demands. Ford Germany built the Ford Escort and Ford Cortina during the 1960s to suit the demand of the German and European markets. However, it should be mentioned that European-made Ford vehicles such as Mondeo, Focus, and Fiesta did not perform well on the American market (PMBOK, 2010). However, as of 2002, Ford Britain halted operations, while some of its plants continue to run at a lesser level. In addition, Ford has joint operations in Turkey, Portugal, and Romania. In 2010, Ford was the fifth largest automobile manufacturer in Europe based on sales.

Ford also operates in the Asia-Pacific region. Among its significant markets are Australia, New Zealand, Japan, and South Korea. Falcon and Commodore are the two most popular brands in New Zealand and Australia (Ford, 2011). These automobiles are the most prevalent in Australia, accounting for 20% of sales (Ford, 2011). Ford was the second largest firm in terms of sales in New Zealand in 2006, accounting for 14.4% of total sales. In Japan and South Korea, Ford has managed to enter the market through their acquired brands, Mazda

Changing Footwear Industry: Impact Of Online Shopping Free Essay Help

Every institution, organization, and business has strengths and weaknesses that, if not correctly mitigated, impede its methodical growth. The evaluation of a corporation is contingent on the progression of its activities over a period of time. In 1951, 3M Canada, a subsidiary of 3M Company, was founded for the primary purpose of manufacturing adhesives, abrasives, and tapes. Over the years, the corporation has restructured its administration from single unit managers to a strong industrial core with a central focus. Canada's manufacturing industry has only lately experienced a decline, which has impacted the channel. The set-in has been accounted for by two characterizations, including a 32.96% increase in the value of the Canadian currency from 0.637/USD to 0.847% between April 2002 and May 2006. This undermined a competitive advantage against the Canadian manufacturing sector due to the fact that the sales per unit generated an expense inside the time period. According to research,

Since 2002, the high cost of labor in North America has been a major motivator for outsourcing production (Hutt and Speh 503).

As a result, 3M Canada's manpower decreased dramatically, which, albeit positively, increased competitiveness among workers in the manufacturing sector. Therefore, the competition drove IBD to extend its production line further than the OEM in order to increase its customer base and revenue. This opened up new avenues for 3M to investigate its commercial environment. Presently:

"Through initiatives such as product innovation, new product introduction, getting'specified' for in-process usage, building relationships with business customers, and collaborating closely with them to reduce operational costs, 3M has maintained its leadership position" (Hutt and Speh 504).

In 2006, under the direction of George Buckley, 3M's marketing strategy took on a new dimension, placing greater emphasis on top-line growth via marginal expansions. Hutt and Speh have mentioned:

"The emphasis shifted from productivity gains and cost savings to market development and promotion" (Hutt and Speh 510).

According to Hutt and Speh, this novel strategy comprised four elements:

"Expanding the core business, pursuing acquisitions, focusing on emerging business opportunities, and doubling investments in emerging markets." (Hutt and Speh 505).

These rules generally evolved from:

"Drive scale in large markets; "Take a larger proportional share in minor markets; "Go for customization; "Manage client retention; "Develop local and differentiated products; "Expand private labeling; and "Plan for cannibalization" (Hutt and Speh 513).

These concerns are essential to comprehending 3M Canada's development in terms of assessing its historic financial and production strength.

Similar to any other technical marketing organization, 3M Canada can be characterized as a fashion-forward business. It has excellent prospects because the product is timely. The organization has continued to demonstrate exceptional leadership by creating new technologies that are responsive to client need. It has been observed:

IBD had not focused on the MRO players inside it, some of which were mega-corporations, despite the fact that they were increasing at a double-digit rate around 10 million, with the majority of their products being commoditized. Nonetheless, MRO was expanding. As a result of its fragmentation and lack of brand loyalty, the segment's large players, some of whom were megacorporations, were in reality growing at a double-digit rate. The numbered stock-keeping units (SKUs) (Hutt and Speh 512).

It is evident from the parallel in Investigative that 3M Canada is conscious of a broad client need and a competitive market. These factors, as well as the presence of a market threat, are essential for a thorough examination of the market's future potential. It is okay to invest $3,500 for Entry-level and $2,500 for Multi-feature. The strategy has distinguished the company and its products, which are not only imaginative but also available in compact form to the majority of clients. For the sixth consecutive year, the reflecting market in North America remains stable at a profit of $80.22 for both goods.

There are two approaches to achieving the objective: acquiring new customers for existing products and operations. They are the industrial equivalents of "Big Box" retailers and can generate income. On the basis of this investigation, we have recently discovered ten distributors (see Exhibit 1), which revealed that IBD's portion of distributor sales was just 2%, thereby providing us with additional sales within the allotted time frame. But IBD has had only prolonged exposure to create results (Hutt and Speh 509).

Since the corporation has a global presence, its items can be estimated for the Europe-African and Asian markets. In the same year, both Entry-level and Multi-feature returned $6.37 and $2.37, respectively. In this scenario, there is a distinct margin between the two items, despite the fact that the North American supply is behind in the same year. This enables 3M Canada to flood the European-African market with entry-level products while shielding the North American market from competition.

The market expressions indicate that the North American market is comprised of a large number of purchasers that either comprehend both items extremely well or do not differentiate between products. Regardless of the situation, this market may be more susceptible to competition than the Europe-Africa market.

For the North American market, there may be an additional need to define the group to which products will sell more; hence, there is a need for increased research. It is not sufficient to just establish a business; it is also important to ensure the availability of high-quality products for the maximum client happiness and benefit.

3M Company was formed in 1902 and has since expanded into a global organization with over 69,000 workers, firms in over 60 countries, and plants in 139 locations across the world. It was first authorized to mine a mineral deposit for grinding-wheel abrasives. In 1922, the Minnesota Mining and Manufacturing Company, as it was then known, invented the world's first water-resistant sandpaper (Hutt and Speh 514).

Additionally

It marked the beginning of the consistent inventions with practical applications for which 3M would become famous in the future. The corporation has accumulated a total of 50,000 patents over 13 technology platforms, ranging from abrasives to polymers. 3M has not, as a matter of policy, outsourced production, but it has encouraged its subsidiaries around the world, including 3M Canada, to pursue independent regional alliances — for third party distribution, licensed manufacturing, and exclusive supplier status — in order to increase local revenues and margins (Hutt and Speh 501).

To address the internal challenge of staffing, 3M Canada may conduct a staff search, particularly online via freelance marketing. In Africa, where the majority of the population consists of young, destitute youngsters, 3M Canada may use a well-defined strategy in the form of community incentives to promote the product through the people. The cost of sustaining personnel will thus be decreased. Studies indicate:

The year 2006 marked a shift in 3M's strategy. George Buckley, who became chairman, president, and chief executive officer of the company on December 7, 2005, initiated the shift by stating, "Growing grapes is more enjoyable than operating a wine press." The focus shifted from margin expansion to top-line expansion. Priorities for investments were moved from advances in efficiency and cost reductions to market development and promotion. The new strategy included four components: expanding the core business, seeking acquisitions, focusing on developing business prospects, and increasing investments in emerging regions. (Hutt and Speh 504)

3M Canada has a promising future as a prominent manufacturer of its products. This report has offered information that can maintain the company's global market afloat. Finance marketing service has taken note of the fundamental function performed by finance service marketers in decision-making and has focused a searchlight on the fundamental types of decisions, as well as difficulties, that face marketing activities by continuously reviewing their papers. This viewpoint has been backed by Straub, who has stressed documentation editing in the following phrases:

Health Care, Transportation, Display and Graphics, Consumer and Office, Industrial, Electro and Communications, and Safety and Security Services comprised the seven business divisions of 3M Company (see Exhibit 3). Each SBU was equipped with its own manufacturing and marketing facilities. Each SBU was globally responsible for its product lines, bringing together technologies that were similar or related. Consequently, line managers reported to both global and country leaders of the business of which they were a part (Hutt and Speh 506).

Studies have also examined the following:

While the product was "owned" by the business managers, the client was "owned" by the sales force. 3M has also implemented account managers for OEM customers whose product requirements spanned many SBUs. The account managers presented a unified ordering, delivery, and billing interface, thereby avoiding the annoyance of a salesman from each 3M division calling on the same customer (Hutt and Speh 499).

This paper defines regulation of finances of a financial institution as a deliberate effort to ensure proper adherence to specified requirements, guidelines, and boundaries in order to maintain the financial institution's reliability and functionality, as well as to revitalize the regulation, which may be accomplished through legislation or an obligatory code of conduct. The study has essentially demonstrated that the regulation of finances adheres to three fundamental criteria, namely:

Promotion of equity, efficiency, and maintenance of market order; Improve the capacities of businesses and increase the regulatory efficacy of a financial monitor; and Assist customers in conducting fair retail transactions.

The article has argued vehemently for the monitoring of financial institutions by the FSA, a regulator of financial activities. Typically, a financial watchdog or regulatory organization is responsible for overseeing financial exchanges, financial service-based marketplaces, domestic industries and businesses, and enforcing criteria that financial institutions are supposed to follow. To be effective, the regulatory body must have the capacity to descend upon non-compliant institutions or institutions that are falling behind in reaching the established requirements.

IBD has been engaged in multiple attempts to increase top-line revenue for some time. These are separate from the choice to prioritize MRO. The division has identified nine product ideas with growth potential, based on current technological platforms. Composite conductors, liquid filtration, paint preparation, and supply chain execution software are among examples. (Hutt and Speh 499).

The article cites the United Kingdom as an example, where an organization known as the Financial Service Authority or FSA is authorized to conduct monetary activities as a finance regulator and has been performing this duty since 2001. Since its inception, the FSA's authority has expanded significantly, and between November 2004 and January 2005, its regulatory operations over the mortgage industry and general insurance are illustrative. Aside from the FSA, Central banks in countries may be concerned with the regulation of financial industries, which the majority of banks have been doing through the issuance of licenses to banks in two categories: Licensed Specialized Banks (responsible for savings and development functions) and Commercial banks.

Sources Cited

Hutt, Michael, and Thomas Speh. Business Marketing Management. New Delhi: South- Western Cengage Learning, 2009. Print.

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TECOM Investments In Dubai: Total Quality Management Free Essay Help

Total Quality Management at Dubai's TECOM Investments

Assuring strong quality management techniques is a crucial means by which both services and industrial firms can gain a competitive advantage. Quality can be described as the degree to which services, goods, relationships, and procedures are devoid of restrictions, flaws, and other elements that do not increase consumer happiness (Pryor, White, and Toombs, 1998). To ensure quality, manufacturing and service companies have introduced a variety of quality initiatives, including six sigma and Quality Award Criteria such as ISO14000, ISO 9000, and the Malcolm Baldrige National quality Award Criteria, as well as Total Quality Management (TQM).

TECOM Investments is one of Dubai's most rapidly expanding businesses. The company that belongs under Dubai Holding seeks to foster the growth of Dubai's knowledge-based sectors through development and management. Within the many industries, TECOM Investments focuses on biotechnology, information and communication technology (ICT), energy, education, and the media. As a company committed to ensuring the delivery of high-quality services and the achievement of predetermined goals and objectives, TECOM investments has continuously worked to improve quality management and the implementation of effective quality management systems, and has established processes and systems that adhere to the highest established standards. Through the application of Total Quality Management, the organization is trying to improve the quality of their service delivery, decision-making, and general management, as well as its business standards.

Implementing Total Quality Management (TQM) at TECOM Investments: Obstacles and problems encountered

Total Quality Management attempts to continually improve every aspect of the work process, beginning with decision-making and ending with the implementation of strategic plans. The system's guiding idea is that businesses can prevent the occurrence of problems and errors (Goetsch & Stanley, 1995). Through TQM, TECOM investments have consistently yielded improved results in all aspect of their operations, as a result of the continuous enhancement of their human, mechanical, and technological capabilities. Before the adoption of TQM at TECOM Investments, the company's state or status was evaluated, which was a crucial initial step. At this point, the company's history, the causes that necessitated the implementation of TQM, the company's needs, and the workers' quality of life were taken into account. This was done to determine whether the management system would be able to endure. It was accomplished through a well-executed management audit. The evaluation revealed that the organization was able to adapt successfully to a variety of economic events, proving that TQM deployment would be both simple and effective. There were, however, a few modifications that needed to be made, particularly in the human resources department, to improve the quality of the workers and their work surroundings.

In the implementation of total quality management, the function of the organization's structure, as well as its form and utility, varies from organization to organization. According to Smith, the differences in this approach also result in disparities in culture (2004). To ensure that this strategy aligns with the organization's goals, it must be regularly revised and evaluated (Carter and Mueller, 2005). Another significant practice is strategy. For business process management to be successful, it must be effectively aligned with the corporation's objectives (Jarvis et al. 2000). All personnel should be in accordance with the needs of the client and, consequently, the customer's happiness. TECOM's investments have always strived to align quality efforts with the organization's mission, having identified this necessity during their implementation. In this instance, the organizational objectives adhere to a formal procedure consistent with the business mission. The process of accomplishing the objectives works in tandem with what was first envisioned (McAdam, 1996).

The difficulties in quantifying the cost-benefit Return on Investments during the system's adoption was a significant obstacle to the deployment of TQM and was a major issue for the organization. Constantly, TQM's dependability and cost-effectiveness were questioned, and many skeptics viewed this approach as both expensive and difficult.

This perception is likely to be a significant obstacle, particularly during the introduction of the system to the various decision-making staff members. The high cost of implementing modifications in the various industries in order to achieve all required requirements is another significant obstacle. These high costs are also likely to be reflected in the implementation and consultation, the employment or training of existing quality assurance personnel who will be responsible for the maintenance and operation of the systems, the improvement of marketing and public relations to inform consumers of the intended benefits, and the training of staff on the operation of the system.

According to the chief executive of TECOM investments, another significant obstacle was the difficulty in increasing the quality of staff working life in order to meet the standards for the adoption of TQM. This approach entailed the implementation of new working standards, working policies, and alterations to several other employee-related factors. This was not only difficult but also costly.

How a quality Award might provide specific suggestions for additional efforts a firm should take to fulfill current quality standards.

There have been quality awards given to firms in both the manufacturing and service industries. In both of these enterprises, the emphasis is placed on the level of consumer satisfaction, and there is convincing evidence that benchmarking is an integral part of the quality management systems of all businesses. The evaluators must also determine whether or not the entire organization is motivated to improve quality. The strategy requires all staff to prioritize customer happiness. This necessitates that all staff members have the opportunity to actively participate in quality improvement efforts. These initiatives rely heavily on the contributions of team members (Evans and Lindsay, 2007). The benchmarking of performance and service standards is beneficial for both the service provider and the manufacturer.

Utilizing authorized quality assurance systems is one of the most essential examples of business process management. The establishment of a culture based on the management of business processes is one of the most significant benefits of utilizing these technologies. Quality assurance methods have been widely used as the cornerstones of the most crucial comprehensive quality management process (Thawesaengskulthai & Tannock, 2008). Numerous businesses have widely recognized systems such as EN ISO 9000. Some have stated that the process of registering with ISO 9000 lays a solid foundation for establishing a quality culture, which has motivated businesses to construct a whole quality management system (Stamatis, 2004). Due to the company's strong involvement in this area, it has a very high visibility. This has improved the company's ability to meet the requirements of its specific consumers.

In the majority of acknowledged instances, registration to these systems has been accompanied by worldwide recognition. In some instances, this registration procedure is not optional, but rather one of the customer's minimal needs. This demonstrates that quality assurance systems can significantly aid in the development of processes- and principles-based methods. Doing the correct thing without having to repeat it and repeating this practice of doing the right thing the first time over and over again is this idea (Smith, 1994).

Another key factor is the structure's quality. This has been described as one of the fundamental elements of modern management. This is a crucial aspect in establishing a business process management system. It is observed, however, that it cannot alone alter the way in which the company is managed to meet its outlined goals. This generates much disagreement. It is primarily because proponents of the procedures see it as one of the most effective approaches to effect organizational change (Czinkota, Ronkainen & Moffat, 2005).

A basic tenet of quality awards is that executive sponsorship results in achievement (Montgomery, 2009). Most firms that have implemented a TQM infrastructure strategy have promoted trained personnel to positions of leadership. This means that these professionals use their significant business and TQM knowledge, tools, and abilities to become leaders and agents of change. This is why leadership training is a significant component of the Black Belt certification process (Communal & Senior, 2001). This indicates that TECOM Investments will be able to train and recruit skilled leaders with efficient abilities in order to advance quality through the award.

Through quality awards, a company is able to evaluate its performance level, examine its strengths and shortcomings, and discover any gaps that need to be filled. Through this, it will be able to effectively identify the areas that require improvement and then implement effective methods to guarantee that the management system conforms to the award's established criteria. Therefore, the award offers the organization time to learn from its mistakes and implement beneficial adjustments. Therefore, TECOM Investments will be able to identify areas in which they need to improve in order to achieve quality through the award.

References

The scripting of Total QM within its organizational biography. Organization Studies, 26(2), pp. 221-247.

Communal, C., and B. Senior. "National culture and management: messages conveyed by British, French, and German advertisements for managerial appointments." Leadership & Organization Development Journal 20 (4) (2001): 26-35.

Czinkota, M., A. Ronkainen, and H. Moffat (2005) published International Business, 7th Edition, Thomson South Western, United States.

Evans, J.R., and Lindsay, W.M., "Managing for Quality and Performance Excellence," 2007. Ohio: publisher South Western Educational.

R. Jarvis, J. Curran, J. Kitching, and G. Lightfoot (2000). Utilization of quantitative and qualitative criteria for measuring success in small businesses. 7(2), 123-134. Journal of Small Business and Enterprise Development.

McAdam, R. (1996). "An integrated business improvement methodology for refocusing business improvement efforts." Journal of Business Process Re-engineering and Management, 2 (1), pp. 63-71.

C. Montgomery (2009). Statistical Quality Management: A Contemporary Introduction (6 ed.). John Wiley and Sons, Hoboken, New Jersey

M. Pryor, J. White, and L. Toombs (1998). Strategic Quality Management: A Systems-Oriented, Strategic Approach to Quality The Thomson Learning Company.

Smith, S. (1994). The Quality Revolution. London: Didcot, Management Books 2000 Ltd.

Thawesaengskulthai, N., and J. Tannock. Trends in Quality Management and Continuous Improvement Initiatives. International Studies of Management and Organization 38:2 (2008).

Stamatis, D. (2004). Fundamentals of Six Sigma: A Comprehensive Guide to the System, Methods, and Tools. Productivity Press is located in New York.

L. Goetsch and D. Stanley published Implementing Total Quality in 1995.

The Upper Saddle River location of Prentice-Hall.

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“Performance Measurement System Implementation…” By Valmohammadi Free Essay Help

Contents Listing
Analysis and Justification of the Introduction Revenue per Available Treatment Hour Average Treatment Rate Utilization of Treatment Room Dynamic Pricing Strategy Productivity in Therapy Conclusion References

Introduction

Generally speaking, managing a spa is comparable to managing a hotel. Therefore, it is conceivable for a spa to use revenue management to the customer's and operator's advantage (Kurtz 2010, p. 345). The spa sector earns close to $40 billion annually on a global scale. Canada and the United States generated an average of $11 billion in spa industry income in 2005. (Kimes and Singh 2009).

Due to the low revenue per available treatment hour (RevPATH) and total sales achieved by Beleza Spa, the Board of Directors must devise a strategy to maximize the entire revenue stream. Therefore, the goal of this financial report is to determine the fundamental cause of Beleza Spa's low RevPATH and to develop a strategy for improvement. The paper offers an in-depth analysis of the problems facing Beleza Spa and a recovery strategy. Evidently, the majority of spa owners are aware of their revenue and whether or not it generates a profit for their firm. Sadly, they frequently struggle to comprehend the cost variables involved and the number of treatment and product sales required to achieve profitability (D’Angelo 2009, p. 59).

In addition, the report will include how to enhance the utilization of treatment rooms and therapists, as well as how to modify the current discounting strategy in order to increase overall revenue. A dynamic pricing technique will be offered for even greater outcomes. According to Shin (2005, p. 238), demand pricing is a pricing method in which prices fluctuate over time dependent on demographics of the consumer.

In general, the goal of boosting revenue in the hotel industry is extremely complex and involves the application of well-coordinated processes if desired outcomes are to be achieved (Bates 2008, p. 210). In most cases, revenue management strategies are employed during periods of low and high demand (Dopson & Hayes 2008). Several essential steps must be taken for Beleza to maximize its revenues. These include successful marketing, product enhancement, the development of an efficient price plan, the enhancement of service delivery quality, and the monitoring of results. Regarding the product, Beleza Spa must make every effort to comprehend what its customers require and develop realistic plans to meet those requirements. This can be achieved by offering a method for capturing visitor needs and feedback after services are rendered. This will, among other things, enable Spa to retain consumers, acquire additional customers, and compete effectively (Odden 2012, p. 6). Regarding pricing, Beleza Spa should ensure that consumers obtain competitive rates without sacrificing the quality of service. In general, when consumers are satisfied, they become excellent markets, and the business benefits without paying additional costs (O'Fallon & Rutherford, 2010, p. 298). Moreover, this may result in higher incomes for service providers and, ultimately, higher profits for the establishment.

Although some individuals believe that revenue management strategy does not provide a concrete solution to the financial challenges faced by the majority of spas, Beleza Spa, like other businesses in the hospitality industry, has continued to rely on this strategy to improve business performance and increase sales and, consequently, overall profits. In theory, the benefits of a revenue management system should correspond to the evaluated income opportunity; but, in fact, this is rarely the case (Talluri & Ryzin 2005). This does not, however, come as a shock to many. The fluctuating nature of business situations causes recessions, economic conflicts, and currency fluctuations. These have a significantly greater influence than a revenue management system's consequences (Bodeker & Cohen, p. 301). In implementing the revenue management strategy, these businesses modify product and service prices in accordance with the current demand. By anticipating the degree of demand at various times and arranging guests according to how much each is expected to pay, Beleza Spa has a good possibility of improving its performance and increasing its overall revenue.

Justification and Analysis

This report is necessary due to the existing scenario at Beleza Spa, which has not been productive. Consequently, it is vital to identify the source of the downturn and then create and implement a rescue plan that would set Beleza Spa on the path to recovery. In practice, revenue management entails setting prices in accordance with the current market demand. This is done to provide customers with the flexibility to select when to make purchases based on their spending capacity (Kimes and Singh 2009).

Initially, Beleza Spa will need to calculate the ratio of Revenue per Available Treatment Hour (RevPATH) to Average Treatment Rate (ATR). Similar to how hotels use revenue per available room (RevPAR) to measure performance, spas may utilize revenue per available treatment room (RevPATH) as a performance metric (Enz 2010, p. 572). RevPATH utilizes information regarding the average amount spent by clients and the occupancy rate of treatment rooms to provide a reference for measuring the efficacy of spa facilities. According to Kimes and Singh (2009, p. 12), RevPATH is a time-based metric that incorporates price and total treatment time as essential considerations for estimating spa revenue. Apparently, few spas take into account essential spa operations characteristics, such as offering discounts to customers and strictly regulating treatment duration. For dependable outcomes, it is crucial that these traits become integral to revenue management programs. ATR, on the other hand, is comparable to Average Daily Rate (ADR), which hotel managers use to determine the amount of revenue generated by an occupied room. It is crucial to note that the ATR statistic is typically influenced by a number of factors, including the type of service requested by a guest, the price, and the duration of the service delivered (D’Angelo 2009, p. 60).

As a method for measuring the success of spa businesses, RevPATH has a substantial impact on the administration of spas. According to a number of studies, numerous spa managers employ a variety of methods to ensure the success of their enterprises. Although the approaches employed shed some light on the operation of spa enterprises, they do not give a solid basis for comprehending the profitability of spa operations (Kimes & Singh 2009). Utilizing RevPATH is therefore an effective means of overcoming this difficulty.

According to Enz (2010, p. 559), the RevPATH calculation can be utilized at many levels of investigation and for a variety of reasons. At the level of the individual spa, managers may elect to create hourly RevPATH data in order to devise a plan for revenue management that is optimal for their facility. Additionally, RevPATH can be used to assess the performance of managers. Here's how that could work. Say the management of a twenty-room day spa wishes to determine his or her hourly RevPATH for a certain month, say September. As shown in Table 1, the manager obtains data from the spa's booking or Point of Sale system and determines that the highest RevPATH periods occur on Saturdays from 4 p.m. to 6 p.m. and on Sundays from 1 p.m. to 3 p.m. This data can be used by the manager to design revenue management strategies for high and low RevPATH intervals (Enz 2010, p. 559). For instance, during peak times, the management may wish to consider asking a credit card guarantee for reservations, shortening the time between treatments, or offering premium services. In an effort to increase demand, the management may try offering discounted treatments to weekday-available clients, such as young moms and retirees, during slack periods.

Table 1: September Sample Hourly Revenue per Available Treatment Hour (RevPATH).

11 a.m. 12 p.m. 1 p.m. 2 p.m. 3 p.m.

Sunday 24 60 88 82 91

Monday, 4:29:33:30

Tuesday 6 30 55 46 66

Wednesday 8 27 49 34 28

Thursday, 12:28:51:43:7

Friday 15 24 52 46 54

Saturday 28 108 119 126 116

The line graph below illustrates how revenue per available treatment hour fluctuates throughout the day.

Change in RevPATH as a function of time of day (Chart 1).

According to Kimes and Singh (2009, p.15), the Revenue per Available Treatment Hour (RevPATH) is determined by multiplying the treatment room occupancy by the average treatment cost per individual. It can also be calculated by dividing the revenue for a certain time period by the number of available treatment hours during that time frame. The revenue per available treatment hour will be calculated as follows in this report:

Calculating Revenue per Treatment Hour Available

RevPATH = Total Revenue from Services / Available Treatment Hours

The estimates are based on the fact that Beleza Spa is open Monday through Friday, 4 to 8 p.m., for a total of 4 hours per day. The Beleza Spa features four treatment rooms, and with the exception of room Wood, which is closed on Fridays, all of the other rooms are open Monday through Friday. Considering that between 10 September and 8 October 2012, there are a total of 4 weeks and 1 day, and that the entire amount of service revenue during this period is 8,232.82 CHF, the ratio of RevPATH to ATR is calculated as follows:

Total Available Treatment Hours = (4 hours x 4 rooms x 5 days) + (4 hours x 4 rooms) = 96 hours

Therefore, RevPATH = Total Service Revenue / Total Treatment Hours Available = 8,232.82 / 96 = 85.76

Typical Treatment Rate Calculation

The average treatment rate (ATR) is calculated using the following formula:

ATR = Total Service Revenue / Total Treatments Booked

With a total of 45 treatments scheduled between September 10 and October 8, 2012, the following formula will be used to determine the ATR value:

ATR = 8,232.82 / 45 = 182.95

The ratio of RevPATH to ATR is ((85.76 / 182.95) * 100) according to the given computations. This results in a RevPATH to ATR ratio of 46.88% when assessed. According to Kimes and Singh (2009, p.15), the optimal ratio of RevPATH to ATR for spas should be within the range of 60 to 70 percent. Consequently, it is evident that the ratio of RevPATH to ATR for the Beleza spa is lower than the acceptable norm.

Managers of the Beleza Spa should assess the company's ATR by merging it with the weekly utilization rate of the available treatment rooms in order to increase profits. Eventually, Beleza Spa will be able to maximize its revenue by giving reduced prices during periods of low demand and higher rates during periods of strong demand. In the subsequent part, the use of treatment rooms will be computed and studied.

Utilization of the Procedure Room

Using room Wood as an example, there are a total of 38.14 reserved treatment hours. When this figure is divided by the total number of treatment hours available, which is 96, the percentage of use for room Wood is 39.72%. A similar technique applied to the remaining three treatment rooms yields the outcomes reported in Table 2.

Table 2: Room Utilization Proportion

Percentage of Room Utilization

Metal 13.35%

Earth 16.67%

Fire 28.81%

Wood 39.72%

Average 24.64%

As is clear from the table, room Wood has the highest rate of occupancy compared to the other rooms, while room Metal has the lowest rate. The utilization rate averages 24.64 percent. Chart 1 illustrates the aforementioned outcomes.

Chart 1: Room Occupancy Rate in Percentage

From chart 1, room Wood has the greatest rate at 39.72%, followed by room fire at 28.88%. With a treatment room utilization rate of 13.35%, Room Metal has the lowest ranking.

Regarding the utilization of treatment rooms, managers must account for occupancy rates. In general, even a minor change in the utilization rate can have a significant impact on the total revenue of a large spa (Sturman et al. 2011, p. 257). According to study, the % usage rate of treatment rooms is a crucial revenue management metric. It is essential for assessing daily revenue from each treatment as it facilitates the evaluation of needs vs maximum available stocks. For spas offering a large number of services, it is recommended to conduct the measurement exercise on an hourly basis. However, because Beleza Spa operates on a small scale, it is possible to do less rigorous calculations for revenue management.

In the majority of spas, the percentage of treatment rooms in use ranges from 35 to 40 percent. Based on the results in table 1, it is evident that the usage rates of room Metal and room Earth are much below the acceptable standard, and Beleza Spa must seek measures to increase the use rates of these rooms. Alternatively, the use rate of room Wood is within an acceptable range.

In conducting its business, Beleza Spa employs licensed therapists who provide the various services detailed in Table 3. According to the table, Beleza Spa employs four specialists. Christian is responsible for administering medical massage in room Fire, Coralie provides facial treatment in room metal, massage in two rooms, Fire and Earth, and nail treatments in room Wood, and Magna is a hair stylist who performs her duties in room Wood. Lastly, Regina is responsible for the nail treatment performed in room Wood.

Therapists, Services Provided, and Treatment Rooms are shown in Table 3.

Treatment Room With Therapist Services

Therapeutic Christian massage

Facial, Massage, Nail, Earth, Metal, Fire, Wood.

Magna Hair design Wood

Regina Wood Nail of hands and feet

Observing the table, it is clear that the high utilization rate attributed to room Wood stems from the presence of two workstations, one for hair design and the other for nail care. Therefore, there is a potential that the output level of room Wood is not as great as represented in table 2. There appear to be two probable explanations for this. Initially, there is the pricing difficulty. All facial spa services are priced at 85 CHF after a discount of 42.5 CHF, or 125 CHF after a discount of 62.5 CHF, according to the menu at Beleza Spa. Due to the fact that the majority of visitors to Beleza Spa are students with limited budgets and are therefore price-sensitive, these prices are typically expensive. Second, there are two providers who can administer facial treatments.

Financial Analysis Of Hutchison Whampoa Limited (HWL) Free Essay Help

Executive synopsis

This study does a financial analysis of Hutchison Whampoa Limited in order to identify the company's financial strengths and disadvantages. The Group's financial information for the period 2007 to 2011 is utilized. The study is based on a comparative analysis of the entity's historical data. It focuses on the accounting rules utilized, ratio analysis (profitability, liquidity, financial gearing, and efficiency ratios), and market perception of the performance of stock prices. In addition, graphs are used to illustrate the trend of various study variables over the two-year period. In order to advise a possible investor on the viability of investing in the company, the results are compared with ideal scenarios and recommendations are given based on the findings.

Analyse de ratios financiers

About the business

Hutchison Whampoa Limited was founded in 1863 and has its headquarters in Hong Kong, China. It is the most valuable corporation listed on the Hong Kong Stock Exchange. Its ticker symbol is 0013 for SEHK and HUWHY for OTC Pink. It is a worldwide corporation that operates in more than ten countries under three brand identities. It had approximately 253,983 employees in 2001. It is a holding firm that trades in numerous industries, including telecommunications, infrastructure, retail, finance, real estate, hotels, and investments, among others (Hutchison Whampoa Limited 2012).

Accounting methods

Accounting principles are the rules and procedures utilized in the recording and preparation of financial statements. The company's financial statements are prepared according to Hong Kong Financial Reporting Standards (HKFRS). Hong Kong Institute of Certified Public Accountants publishes these reporting guidelines. Except for financial instruments, which are presented at market value, the financial statements are prepared on a historical cost basis. Depreciation of assets is determined based on the historical book value of the assets and not their market value. The going concern principle is another accounting principle. This principle presupposes that an organization will continue to operate for the foreseeable future. The company's board of directors is confident that the group will be able to function within its current capacity for the foreseeable future. In addition, the Group adopted the revenue recognition and matching principles, according to which revenue is recognized when the significant risks and rewards of ownership have been transferred to the buyer and sales revenue is recorded upon delivery of the goods to the customer (Hutchison Whampoa Limited 2007; Hutchison Whampoa Limited 2008; Hutchison Whampoa Limited 2009; Hutchison Whampoa Limited 2010; Hutchison Whampoa Limited 2011)

There is also the application of the time period idea. The period in which a transaction occurred is the period in which it is recorded. It is obvious from an examination of the financial statements that the Group adheres to Generally Accepted Accounting Principles (GAAP) in its accounting practices (McLaney & Atrill 2008). During the period under review, there has been no change to the accounting standards utilized by the Group.

Analysis of the Group's financial strengths and shortcomings

Due to the fact that reported values do not provide an in-depth explanation of an entity's performance, financial statements present potential investors with a limited view of the Group's financial strengths and shortcomings. For greater comprehension, the financial analysis dissects the financial data into several components. From 2007 to 2011, the ratios will focus on the company's profitability, liquidity, efficiency, and gearing. The analysis will also require the creation of graphs depicting the performance trend over the past five years (Eugene & Michael 2009; Atrill 2009).

Liquidity ratios

Liquidity analysis is crucial since it determines an organization's ability to maintain positive cash flow while meeting immediate obligations, i.e. the availability of funds to pay current debt. The most frequent liquidity analysis ratios are the current and quick ratios (Haber 2004; Brigham & Joel 2009). It is vital to maintain appropriate liquidity ratios because ratios that are either too low or too high are undesirable. The table below provides a summary of the Group's liquidity ratios.

2007 2008 2009 2010 2011

1.31594447 1.2123 1.6753 1.5584 1.3286 Currently

ratio of speedy ratios 1.16870705 1.0403 1.4986 1.3926 1.1603

Cash ratio: 0.78044453 to 0.531819 0.985661 to 0.857274 to 0.608446

Both the current and quick ratios are more than one according to the table. This indicates that the corporation has sufficient current and liquid assets to satisfy its present obligations as they mature. Cash ratio values are less than one but larger than 0.50. It is the most conservative indicator of a company's liquidity. As demonstrated in the graph below, despite the positive liquidity, the trend of the ratios over the past five years has been unstable.

Performance ratios

Profitability is the capacity of a firm to generate income after deducting operating expenses. Various ratios, including gross profit margin, operational profit margin, net profit margin, the return on assets (ROA) ratio, and the return on equity (ROE) ratio, are used to analyze profitability (Siddidui 2005; Head & Watson 2009). Profitability ratios are the primary concern of the majority of the organization's stakeholders. The table below illustrates various profitability ratios over the course of five years.

2007 2008 2009 2010 2011

Gross margin of profit 66.17% 67.10% 64.43% 62.56% 60.18%

Net profit margin 15.02% 10.47% 10.15% 12.23% 31.61%

Return on property 4.11% 3.62% 3.07% 3.55% 10.25%

Return on equity 9.16 percent 8.10 percent 6.63 percent 7.25 percent 18.52 percent

Four ratios are calculated to provide more insight into the company's profitability. Gross profit margin reveals how effectively a business controls its sales and pricing costs to make profits. For the five-year period, the ratios are above 50%, which is beneficial despite their downward trend. The net profit margin demonstrates how the corporation controls the cost of running the business. The ratio has increased over the past five years, which is a positive sign. Return on assets indicates how effectively a business uses its assets to produce profits. The company's return on assets is low, with a deteriorating trend between 2007 and 2010. Return on assets demonstrates how efficiently a company uses shareholder capital to produce revenue. Return on equity is poor for the company. It suggests that the shareholders' finances are not being managed correctly. The graph below illustrates the fluctuating trend of four profitability ratios.

Performance ratios

These ratios indicate a company's degree of activity, or how effectively it manages its sales-generating resources. Utilization ratios are the most prevalent efficiency metric (Eugene & Michael 2009; Collier 2009). The five-year turnover ratio for the Group is presented in the table below.

2007 2008 2009 2010 2011

Inventory rotation 3.5 4.2 4.5 4.4 5.1

Receivables turnover ratio 3.9 4.3 4.3 3.7 3.9

Accounts payable volume 0.8 0.9 1.0 0.9 1.2

Assets turnover 0.02 0.03 0.02 0.02 0.03

Four ratios are computed to ascertain the efficiency of the company. Between 3.5% and 5.1% is the inventory turnover rate. The low ratio can be linked to the company's slow-moving inventory. The turnover of accounts receivable varied between 3.7 and 4.3. These ratios are extremely low and may suggest low levels of group efficiency. Over the past five years, turnover ratios for accounts payable have been low. They are advantageous since a corporation must maintain low ratios. The asset turnover ratios are abysmal. This demonstrates ineffective utilization of assets to produce money. In conclusion, it is obvious from the foregoing statistics that the Group is not managing its sales-generating resources efficiently. The graph below depicts the efficiency trend over the past five years.

Capitalization ratios

The quantity of debt financing a corporation owns explains its level of leverage. The ratios are crucial because they reveal to the investor the level of equity financing exposure (Holmes & Sugden 2008). The table below displays the company's leverage ratios.

2007 2008 2009 2010 2011

equity to debt ratio 1.23 1.24 1.16 1.04 0.81

Interest coverage ratios are 2.96, 2.48, 4.67, 9.91

A high debt-to-equity ratio indicates that has a disproportionately big amount of debt financing compared to equity financing. This suggests that the wealth of shareholders is at stake. A value that is close to one is advantageous as in the case of the Group. The company's debt to equity ratio is between 0.81 and 1.23. A high interest coverage ratio is desirable since it indicates that the corporation has no trouble paying debt-related interest. The company's ratios were between 2.91 and 9.91 times. It is a positive indicator for prospective investors. The graph below depicts the ratios' trend over the past five years.

Summary

It is obvious from the ratio analysis above that the company's liquidity position is good, i.e., they can meet their existing obligations. In addition, the company's profitability is pretty dismal, indicating that it is not an attractive investment. The Group's level of activity is quite modest. The Group's management does not effectively utilize available sales-generating resources. Lastly, the company's leverage is advantageous. The dismal performance between 2008 and 2010 can be linked to the global financial crisis, which had a significant impact on international corporations dealing in many currencies.

perception of the organization by the market

The market and analysts regard the Group's stock prices to be highly volatile. This demonstrates the company's lack of financial stability. According to the experts, "the market prices of the common stock are highly volatile and are likely to continue to be subject to wide fluctuations in response to a number of external factors" (Securities and Exchanges 2006). Numerous variables are cited by experts, the market, and investors as the primary source of stock price volatility. First, volatility is related to variation in financial performance over time periods. Another problem is that operating outcomes and future expectations frequently differ from analysts' and investors' expectations. In addition, the introduction of technological advancements, new services, substantial contracts, acquisitions, strategic partnerships, joint ventures, and capital commitments greatly contributes to the volatility of stock prices. It is important to note that the Group operates in seven distinct industries. These sectors are exposed to various risks, and these risks have a detrimental impact on the Group's stock values, resulting in volatility (Securities and Exchanges 2006). Before investing in the Group, a potential investor should also consider the type of the industry in which the Group operates.

References

Financial Times Prentice Hall, Harlow, 2009. Atrill, P. Financial management for decision-makers.

Fundamentals of financial management. South-Western Cengage Learning, United States, 2009.

Collier, P. (2009). Accounting for managers. London: John Wiley & Sons.

Financial management theory and practice. South-Western Cengage Learning, United States, 2009.

Accounting simplified by R. Haber, American Management Association, New York, 2004.

Interpreting corporate reports. Financial Times/Prentice Hall, Harlow, 2008.

Head, A., and D. Watson. (2009). Corporate finance: principles and practice.

Hutchison Whampoa Limited Annual Report for 2007, 2007 Web.

Hutchison Whampoa Limited Annual Report 2008, 2008. Web.

Hutchison Whampoa Limited Annual Report for 2009, 2009. Web.

Hutchison Whampoa Limited Annual Report for 2010, 2010 Web.

Hutchison Whampoa Limited Annual Report for 2011, 2011 Web.

Hutchison Whampoa Limited, "About HWL" (2012).

2008, Financial accounting for decision-makers, Prentice Hall Europe, Harlow. McLaney, E., and P. Atrill.

Securities and Exchanges 2006, addition to the prospectus. Web.

Managerial economics and financial analysis. New Delhi: New Age International (P) Limited, 2005.

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Nokia’s Integrated Marketing Communication & Brand Building Free Essay Help

Abstract

This research will examine the role of Integrated Marketing Communication (IMC) in the process of brand development. It will closely study, Nokia, as a corporation that has effectively established and maintained a positive brand image by employing the IMC tools. It will start by defining IMC and its importance, illustrate the role of the marketing strategy in Nokia, and show how Nokia has used the IMC tools such as advertising, sales promotion, internet websites, event sponsorship, direct marketing, personal selling, public relation and publicity in running its business. Pictorials, tabulations, and data will be used to highlight the performance of Nokia concerning its competitors. The study will conclude with a summary of its findings and recommendations.

Integrated Marketing Communication is a management idea adopted to make all marketing communication parts, such as sales promotion, advertising, direct marketing, and public relations, function as a unit rather than in isolation, according to its definition. IMC's primary objective is to maintain consistency in the broadcast of messages and the complementary use of media to cover as many contact points as possible, such as word-of-mouth marketing, the Internet, and new media. This kind of marketing is based on the utilization of traditional and online marketing channels. Online channels include e-marketing programs and campaigns, such as pay-per-click, email, and affiliates, as well as the most recent online channels for blog, podcast, and internet television (Belch, 2003). Offline channels, on the other hand, include periodicals, newspapers, billboards, televisions, radios, and public relations.

The significance of IMC to businesses is that they can be assured of more customer touchpoints. What this means is that apart from accessing the brand through traditional means such as newspapers, there will be many other options for accessing it such as the internet and after-sales service. IMC also intends to tailor its mode of advertising to reach a broad audience, including children.

Entrepreneurs, sports fans, pet owners, and a great number of others. In addition, this form of advertising guarantees that customers will view the advertisement and remember what it addressed. This is evidenced by the fact that firms such as Nokia Australia are investing more in advertising because they anticipate strong consumer responses. In addition, by posting an advertisement online, business owners can ensure their continued existence even after business hours.

The history of IMC has come a long way despite the hurdles of integrating it in businesses when it was still a new concept in the industry. In the 1990s, Integrated Marketing Communications was developed as a mission to establish consistency across all marketing communications sectors and media (Spotts et al, 1998). In the year 2000, it became apparent that IMC awareness needed a platform in order to be implemented into diverse organizations (Renzie, 2008).

Process of Integrated Marketing Communication and Brand Development

All companies that require future success and growth will need to build a strong brand that will withstand the fluctuations of the market. For a corporation to construct a powerful brand, it must comprehend how it will provide, create, and communicate the brand's message to clients with high expectations. To communicate the brand's value to customers, the company will need to adopt a strategic approach to marketing communications and control of the resources and costs paid during the brand-building process.

Integrated Marketing Communications has been an effective marketing tool for brand promotion and development (Reid, 2002). Cross-functional planning, data-driven targeting, and strategically consistent communication are the three most critical IMC strategies (Brad, 2005) that should be utilized in the brand-building process. This marketing approach relates brand performance with integration level and for managers dealing with global brands, such as Nokia, IMC seems to be an efficient concept for application in building of its brands. There are various ramifications that arise with this concept but they can be managed with a thoughtful approach.

Promotion, one of the P's in the marketing mix, utilizes a variety of communication tools. All of these tools will operate more effectively if they are interconnected than if they are used alone. This will be strengthened when vertical, horizontal, external, and internal integration occurs concurrently with data integration. Horizontal integration is implemented across business and marketing mix functions.

(Bisel & Keyton, 2008). On the other hand, internal integration is all about internal marketing while external integration leverages external partners like public relations agencies to present a similar, unified, integrated message. The study of Australian markets is a good illustration of this point.

The following diagram illustrates the IMC instruments.

IMC of Nokia

Nokia Corporation is a Finnish multinational corporation. It was founded by Frederick Idestman in 1865 ( Kumar et al, 2009). The company started as a cable, pulp, and paper manufacturing. Nokia has offices in India, Korea, Germany, Hungary, Finland, and Japan, and its industries include footwear, energy generation, and paper goods, among others. Statistics reveal that Nokia is the world’s leading mobile phone manufacturer since 1998 with a market share of 32% in 2009, and a sales volume of 210 million units in the year 2008 (Kurmar et al, 2009). (Kurmar et al, 2009). In 2011, it was anticipated that mobile phone production in Australia would increase from 51 million units to 110 million units (Kurmar et al, 2009).

In Nokia IMC Tools

Advertising, Internet websites, event sponsorship, direct marketing, sales promotion, personal selling, Public Relations (PR), and publicity are among the IMC techniques utilized by Nokia.

Advertising

Nokia has used advertisement as a tool for marketing its products and it has done this aggressively by display stands, billboards, television, dummies, and posters. There is also a Nokia webpage. The commission is provided to its sellers for every Nokia accessory or phone that is purchased.

Internet Websites

Nokia took a big breakthrough in its marketing strategy by building a website where it advertises it products and avails the website its phones for simple access. Customers who use discount coupons to purchase products from this website receive a discount.

Relations Public

This company is known for its strong Public Relation and for this multinational company to enhance the equity of its brand and maintain its brilliant image, it has continually come up with new events about its product, publicity of its new brands and offers and programmes that center around the company and its accessories.

Direct Advertising

Nokia's official website does not offer any direct sales options. Nokia does not utilize the direct marketing techniques of telemarketing or direct mail. However, it does use a direct method of marketing dubbed DEMO (Kumar et al, 2009) in which its phones and accessories are displayed to attract buyers' attention.

Sales Promotion

Nokia has utilized trade exhibitions, dealer incentives, and cooperative advertising to market and sell its goods. In addition to that, Nokia’s promotion mix uses AIDA as letters to stand for Attention, Interest, Desire and Action accordingly (Renzie, 2008). (Renzie, 2008). It aims to attract the customer’s attention, capture interest by using colorful features, convince customers that it is their desire to possess the product, make the customer take the action to purchase.

Corporate Event Sponsorship

Nokia has become one of the most prominent multinationals in the mobile phone industry as a result of the numerous events it has sponsored, including marathons to raise money for the needy, conferences, and other sporting events such as athletics and festivals. In the long run, the popularity of the company rises which is comparable to its sales and profit margin.

Publicity

Nokia's management has utilized product reviews and company reviews to promote its latest products. Nokia made its devices accessible to clients by offering a range of high-quality services with its accessories, including imaging, games, business mobility, and internet services. Therefore this has been an efficient contributing aspect to its publicity and the publicity of its phones and accessories.

Personal Selling

Relationship management and account management are applied in the personal selling of Nokia. Another personal selling strategy involves engaging in oral communication with the potential customer intending to sell the phone or accessory. Nokia has used personal selling as a strategy to cultivate a good relationship with their customers, as their primary focus is the customer in order to close a sale. It consequently guarantees that it has a strong sales staff that can be able to hunt for new consumers and engage with them in an efficient manner and therefore, sell the goods.

As shown in the table below, due to the company's rigorous IMC tools, it has achieved a significant market share in comparison to its competitors.

Company Handset share of the market

Nokia 49.5%

Sony 10.1%

Samsung 12%

Motorola 9.9%

Others Staying

Role of IMC in Nokia

Orange, Vodafone, and Motorola, Nokia's competitors in the Australian market, offer global products similar to Nokia's, but they have not been able to penetrate the market as Nokia has. Nokia as a multinational has experienced issues with its branding such as counterfeit items. For instance, China posed a threat by producing counterfeit Nokia products. These kinds of competitors have attempted to reduce Nokia's market share. In summary, the IMC and marketing strategies of Nokia have made it possible for Nokia to be stable in the popularity of its brands. Actually, many buyers favor Nokia brands over Motorola or Orange products due of its longevity, affordability and excellent quality. In addition, Nokia's presence into rural areas in numerous nations, including Australia, has ensured that their brands stay popular and appreciated. IMC has also ensured that Nokia remains devoted to its customers, which is why customers have faith in its brands. The table below illustrates how Nokia is a rapidly growing brand and how popular it is among other multinational corporations, some of which employ IMC as a marketing strategy.

Change in Company Value between 2005 and 2006

CocaCola -1%

Microsoft minus 5%

IBM +5%

Intel -9%

Nokia +14%

Toyota +12%

Disney

Mercedes – Benz +5%

+9%

Conclusion

In essence, the IMC strategy is important for a company, like Nokia, that is interested in penetrating the market aggressively by using IMC tools like advertising, internet websites, event sponsorship, direct marketing, sales promotion, personal selling, Public Relation (PR) and publicity. While Nokia has been cited as an example of a corporation that has effectively entered the market thanks to outstanding marketing methods, it is equally necessary to urge that it increase brand awareness in regions where it has not yet achieved market penetration. This essay has also demonstrated that for a marketing strategy such as IMC to be successful, the management must possess excellent management skills. Nokia has definitely handled this strategy in an efficient way since its performance in the market speaks for itself.

References

Apaydin, M. 2008. Cracking the success paradox: Integration complexity and organizational learning input-merger intergration. Web.

Belch, G., et al, 2003. Advertising and Promotion: an Integrated Marketing Communications Perspectives. [ebook] New York: McGraw Hill Companies. Web.

Bisel, R. S., & Keyton, J., 2007. Integrating control and resistance within a leadership organization to achieve unobtrusive control. 71 (2) Western Journal of Communication: 136-159.

Brand Strategy and Integrated Marketing Communication (Brad, D., 2005). (IMC). Web-based Journal of Advertising.

2007's Knowledge Capital Partners: Identity, Integrity, and Impact The 360 Degree Model. Web.

Building Strong Brands Through the Management of Integrated Marketing Communications, M. Reid, 2002. 14 (3), 37-39. International Journal of Wine Marketing.

Renzie, M., 2008. Integrated Marketing Communications: Why Is It So Important?

interMedia Strategic Marketing Services, Web.

Kurmar, R., Banthia, R., Sharma, R., & Riya, M.,2009. Nokia Marketing Strategy (plan). Author Stream, online.

Spotts, E.H., D.R. Lambert, and M.L. Joyce, 1998. Marketing Déjà vu: the Discovery of Integrated Marketing Communications. Journal of Marketing Education. Web.

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Microsoft Corporation: The Rise Of A Major Company Free Essay Help

Company Specifics

Microsoft Corporation is a market leader in sales, development, and production of IT systems and servers. The corporation has more than 155,000 employees worldwide and operates in the United States and other confined areas. Bill Gates, the Vanguard Group, Capital Research& Management, SSgA Funds Management Inc., Fidelity Management & Research Company, T. Rowe Price Associates, Geode Capital Management, Putnam LLC, and T. Rowe Price Associates are among the Corporation's major shareholders. Microsoft Corporation's stock is priced at 165.14 USD, and its stock exchange symbol is MSFT on the NASDAQ. Microsoft provides equipment, services, and options that enable individuals and enterprises to realize their full potential. Microsoft is regarded as having attained the highest level of operational and tactical industry best practices. Through its technical advances and advertising expertise, Microsoft has risen to the top and dominated the software industry. The company adheres to a professional plan and an effective business strategy. In an effort to achieve market dominance, the Corporation implemented strategic, organizational, and structural modifications to its applications, apparatus, and services in response to market dynamics.

The organizational hierarchy of Microsoft

Microsoft's ownership structure has been strategic and transparent. The hierarchical structure of Microsoft enables managers to focus on oversight and team functionality, which results to recurrent revenue. The Board of Directors examines the needs of the clientele and modifies its activities to provide the necessary services. The Corporation's organizational structure emphasizes business output (Conte, 2018). Consequently, the method facilitates commerce, particularly in light of this company's 2015 structural transformation. The organization's management is responsive to the dynamics of the hardware and software markets, contributing to the provider's long-term success.

PESTEL Analysis: Economic and Political Factors

Through the planning, execution, maintenance, and optimization phases of business engineering, supply information, computing, productivity, hybrid, and cloud IT infrastructure, the company provides distinctive solutions and services. Microsoft offers practical planning, implementation, care support, education, and maintenance solutions. Microsoft's PESTEL study include numerous political variables at the administration, regional, and global levels. Political stability on the current market, lobbying influence, and government policy are the variables. Antitrust concerns have piqued the interest of authorities and political parties in Microsoft. Multiple aspects influence Microsoft's earnings and profit maximization. These include the current market's economic expansion or contraction, fluctuations in the exchange mechanism, fluctuations in earnings policies and rates, inflation rates, fluctuations in labor expenses, asset values, and fiscal policies. Labor expense is a component that may affect the corporation's net income and operational costs. Microsoft employs around 154,000 permanent workers and more than 80,000 people in North America. Thus, increases in labor costs have an impact on profit maximization.

Although environmental variables constitute a threat, knowing of the trends provides insight into the future and minimizes the challenge associated with the business's future management. Moreover, depending on the ecological characteristics of the STEEP research, Microsoft's operations are governed by a variety of environmental standards. Although environmental variables have an impact on the organization, their impact on the sustainability and interchange of Microsoft products is minimal. The company must produce eco-friendly products while increasing the use of novel charging systems and equipment. Microsoft has missed opportunities to introduce innovative technologies in a few segments due to political instability. Microsoft can, however, develop new goods and services, thereby increasing its market share and earnings, if the political climate is stable. Microsoft, for instance, is offering novel cloud initiatives to improve data management techniques and information center efficiencies in a competitive marketplace.

Human Resource Administration

Human Resources is responsible for selecting, recruiting, hiring, and retaining employees. The department is responsible for the remuneration and wellbeing of its employees. In order to increase business productivity, tasks are divided into operational units. Essentially, dividing the jobs into distinct operational units and teams enables the business to assess the efficiency of each operational component. For instance, Microsoft's advertising team performs a distinct function from that of other divisions. In this company's promotion mix, the advertising team is responsible for marketing analysis, the design of new products, and growth strategies (Love et al., 2017). The accounting staff is responsible for collecting, documenting, analyzing, and presenting financial data; their firm has benefited greatly from their excellent fiscal communication (Love et al., 2017). The fiscal function is responsible for generating the finances required for firm management and determining how those monies will be invested. This section organizes revenue sources, financial flow, and credit management. The management and operations departments are responsible for the expansion of new product lines, research and development, product preparation, quality management, distribution, purchasing, and inventory control. The operational unit acts as the operations' central component.

The Five Forces Analysis of Porter

Microsoft's rivals are gaining ground in client markets as Apple has eclipsed Microsoft as the most valued innovation, resulting in a psychological impact on the Corporation (Hyrynsalmi et al., 2016). Microsoft's competitors face stiff competition from new technologies in networking, cloud solutions, cellphones, gaming architecture, and tablets, despite the company's market dominance. In evaluating Microsoft, Porter's five factors include the threat of additional investments, the threat of replacements, the bargaining power of suppliers, the bargaining power of customers, and fierce competition.

Dangers from New Investments (moderate force)

Certain external variables, as measured by their intensities, contribute to the danger of new entrants against the Corporation. Among the concerns posed by new entrants include brand expansion, the cost of expansion, the expense of creating new brand portfolios, and a digital economy.

Threats from Competing Goods and Services (weak force)

The poor force of Microsoft product and feature replacements is due to external factors. Based on this assumption, the organization has witnessed a decline in the availability and effectiveness of substitutes. The firm's products and services have been merged with cutting-edge innovation to outperform similar alternatives. As a result, the greater acceptance of superior technology reduces the availability of substitutes, hence reducing the danger of substitution for Microsoft's services, software, and other devices.

The Negotiating Position of Suppliers (moderate force)

The bargaining strength of suppliers is a moderately influential external element on the Corporation. The force incorporates the size and demand volume of the supplier. When product supply falls below the demand threshold, the bargaining force influences the organization. Thus, the size and number of Microsoft's suppliers impact the company's business environment.

Customer Purchasing Ability (moderate force)

Diversity and spontaneous switching costs influence the bargaining power of consumers. Customers find it difficult to compare the products and services of other companies due to the limited availability of competitors. The incapacity of these businesses to deliver appropriate goods and services makes comparisons difficult. Nevertheless, the accessibility of switching products makes it imperative to improve and manage customers. Average shifting prices have a significant impact on Microsoft's business environment because customers can rapidly switch from using certain items to utilizing goods from a different provider. Thus, the convenience of switching products and services places Microsoft Corporation under market pressure.

Commercial Rivalry (strong force)

The forces of competition include the diversity of businesses and the competitiveness of investments. These variables have an underlying effect on the strategic activities of Microsoft. The disruptive character of Microsoft's competitors, such as Apple, Sony, Oracle, IBM, and Salesforce, has a powerful influence on the company. Consequently, the diversity of investment portfolios fosters fierce rivalry amongst businesses that offer comparable products and services.

Marketing Mix Evaluation

The organization's marketing mix demonstrates how a combination of innovation and effective methods is used to retain its market share value. Microsoft secures electrical items through online engineering and technology processes. It has a big competition in the markets for hardware, cloud services, and applications, which contributes to its high profits. The four Ps consist of pricing, product, location, and promotions. Microsoft offers a variety of products. Its product mix includes applications, apparatus, games, programs, and fun. Thus, there is a prominent diversification of Microsoft's merchandise. Microsoft's place and supply mix for client transactions includes official websites, online shops, authorized merchants, and retail outlets. Although Microsoft stores are limited in number, they facilitate direct advertising, which enables the company to improve customer experience and brand image (Iorait, 2016). Under the proportion mix, the company targets clients by using efficient communication and marketing methods (Mosheshe, 2017). Under the pricing mix, the company uses cost strategies, such as a market-oriented framework, to differentiate its products and services. Each strategy has merits and can be implemented based on market dynamics. As seen in figure 1, Microsoft's marketing mix emphasizes product, communication, effectiveness, and efficiency.

Microsoft's Marketing Mix Diagram

The company's SWOT analysis

The SWOT analysis describes the company's management strengths and weaknesses. Based on its products and services, the study describes the internal and external strategic elements of the company. Microsoft's SWOT analysis illustrates the influence of innovation, company diversification, and service offerings. The management conducts a SWOT analysis to prepare a long-term response to the needs of customers and the dynamics of the market.

Strength

Distribution supply chain Efficiency Strong financial results User-friendly software and applications Brand fidelity A large market reach Market capitalization Innovative Product Lines Continuous expansion Diversified holdings Effective management

Weakness

inadequate browser integration (Microsoft edge) Windows technical difficulties Trustworthiness and safety issues with items reliance on software developers Exposure to cyberattacks and cybercrime Product mimicry Poor investment acquisition Security defects Slow innovative approach

Opportunities

Cloud solutions Intelligent gadgets and marketing Strategic brand diversification via acquisitions Innovative marketplace incorporating artificial intelligence Enhancing security firewalls against intrusion

Threats

Rate of currency exchange Litigation and litigation Product and service competition The political, economic, and ecological emergency Internal deceptions and scandals. Open source software technology Market and customer needs that fluctuate

Management of the supply chain and accounting procedures

Supply chain management is the application of the value distribution strategy to effectively manage and organize a company's products and services. Logistics management is the proactive management of logistics to improve quality, value, and competitive advantage (Sawhney et al., 2017). Microsoft's logistics and delivery strategy encompasses numerous components, including cost analysis, vendor information management, business record management, review of sales processes, and product monitoring. Microsoft manages its operations in accordance with worldwide accounting best practices. The Corporation reports consolidations, estimates, assumptions, revenues, foreign currencies, and expenditures in accordance with GAAP accounting rules. These techniques have a beneficial effect on the share price of the company. Consequently, factors such as management effectiveness, political atmosphere, dividend rate, investors, interest rates, and stock demand impact Microsoft's share price.

References

Conte, F. (2018). Understanding the impact of CEO tenure and reputation on the business reputation: An exploratory research in Italy 13(3), 54-59, International Journal of Business and Management. Web.

Hyrynsalmi, S., Suominen, A., & Mantymaki, M. (2016). The effect of developer multi-homing on software ecosystem rivalry. Systems and Software Journal, 111(1), 119-127. Web.

Išoraitė, M. (2016). Marketing mix theoretical considerations International Research Journal, 4(6), 25-37. Web.

Love, E., Lim, J., & Bednar, M. (2017). The influence of CEOs on business reputation as the face of the company. 60(4) Academy of Management Journal: 1462-1481 Web.

Mosheshe, J. (2017). Microsoft Corporation's utilization of object-oriented software testing technologies. Internet resource: Computer Engineering & Information Technology, 6(4), 1-4.

Sawhney, M., Buenneke, B., Jackson, L., Kulick, L., Kulick, N., Norton, E., Post, E., & Rotem, R. (2017). Microsoft Corp.: Branding and positioning.NET. Kellogg School of Management Cases, 1(1), 1-9. Web.

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The Financial Analysis Of Coca-Cola Free Essay Help

Introduction

This section does the financial analysis of Coca Cola, focusing on the company's financial performance and stock price movements during the past five years. The analysis compares the stock performance of the company to that of three competitors that also operate on the global market. The analysis concludes with a break-even analysis based on the previous year's financial information.

Market Performance

Figure 1 depicts the stock price changes of Coca Cola, KO, and its competitors over the past five years, including PepsiCo, Fevertree Drinks PLC, and Britvic PLC. The stock prices of Coca Cola, PepsiCo, and Britvic PLC did not fluctuate significantly over the past five years, with the exception of 2020, when the coronavirus pandemic occurred. Coca Cola's stock price climbed by 17.89% over the past five years, while PepsiCo's increased by 39.66% (Yahoo! Finance, 2020). In contrast, the stock price of Fevertree Drinks PLC rose substantially between 2005 and September 2018 before declining. After March 2020, the share prices of all four companies increased (Yahoo! Finance, 2020).

Figure 1: Coca Cola and Competitor Stock Prices.

Growth Rate and Profitability

Table 1 displays the five-year growth rates of several profitability metrics and total revenue for Coca-Cola.

2015 2016 2017 2018 2019

Gross Profit -4.61 percent -5.27 percent -11.45 percent -5.59 percent 6.66%

Operating Profit -10.09 percent -0.81 percent -10.42% 18.01% 10.21%

Net Profit 3.56 % minus 11.21 % minus 80.88 % 415.54% 38.64%

Total Revenue -3.70% -5.49% -13.50% -5.28% 8.65%

Table 1: Profit Growth (The Coca Cola Company, 2020; 2018; 2016).

The company's gross profit had a decline from 2015 to 2018 as a result of poor cost management, as indicated by Table 1. 2019 was the only year in which the company's gross profit increased. Similarly, the company's operating profit and net profit decreased during the initial three years of analysis. The substantial fall in the company's net income in 2017 was caused by the payment of delinquent taxes. It appears that Coca-Cola deferred tax payments through manipulating its early earnings. The significant increase in the company's net income in 2018 was a result of its reduced tax liability in that year. Coca Cola's next two fiscal years, including the present one, will be challenging as COVID-19 continues to exert pressure on consumer markets and corporations are compelled to scale down their ambitions. In the next two years, the soft drink and beverage business, which is already in decline due to decreasing demand for carbonated drinks, will face a further slowdown in growth. Consequently, negative growth rates are anticipated during these years. After COVID-19 vaccine becomes available, however, worldwide markets are anticipated to return to their earlier levels.

Revenue and Earnings Graph (Yahoo! Finance, 2020)

The Coca-Cola sustainable growth rate is determined, and its values are presented in Table 2.

2015 2016 2017 2018 2019

Sustainable Rate of Growth 6.63% 20.71% 412.98% 37.06% 18.98%

Table 2: Rate of Sustainable Growth

Table 2 illustrates that the company's sustainable growth increased till 2017 as the dividend payout ratio climbed substantially throughout those years. In 2018 and 2019, the corporation held greater earnings rather than distributing them to its shareholders, who were unable to realize capital gains on their investments in the company's shares.

Sales Distribution

Coca Cola's annual report identifies six distinct operational segments: Europe, Middle East & Africa, Latin America, North America, Asia Pacific, Global Ventures, and Bottling Investments (The Coca Cola Company, 2020). The net operating revenues of the company's six segments are presented in Table 3.

2015 2016 2017 2018 2019

Asia, the Middle East, and Africa 7,587 7,278 6,822 7,099 7,058

Amérique Latine 4,074 3,819 4,026 4,010 4,118

9 840 10 210 10 629 11 630 11 915

Asia Pacific 5,252 5,294 5,162 5,185 5,327

Global Ventures – – 715 770 2,562

Investments in Bottling Total 23,063 19,885 11,306 6,787 7,440

Table 3. Segment Revenue.

The most significant segment of Coca Cola's operations, according to Table 3, was North America, followed by bottling investments. Concentrates, syrups, fountain syrups, corporate trademark beverages, and Coca Cola trademark beverages are among the company's offerings (The Coca Cola Company, 2020). Table 4 displays a 55:45 split between sales from operations producing concentrates and operations producing finished goods in 2019.

2015 2016 2017 2018 2019

Concentrate operations 37% 40% 50% 58% 55%

Final product processes 63% 60% 50% 42% 45%

Table 4. Product Sales.

In the past five years, finished product operations have seen a reduction in revenue, whereas concentrate activities have seen a gain. In the United States, the company's sales have decreased during the past five years, as seen in Table 5. However, the company's overseas sales increased. In addition, it is observed that the company's revenues decreased from 2015 to 2018 then increased in the most recent year.

2015 2016 2017 2018 2019

States, United 20360 19 899 14 727 11 344 11 715

International 23.934 21.964 20.683 20.512

Geographical Sales Report

Analyse de ratios financiers

This report's financial ratio analysis estimates and analyses the values of major financial ratios across many categories.

Liquidity Ratios

As illustrated in Figure 3, Coca Cola's current ratio has decreased over the past five years, and in 2019 it was less than 1, indicating a weak liquidity position.

2015 2016 2017 2018 2019

Actual Ratio: 1.24 1.28 1.34 0.87 0.76

Current Assets are 33,395, 34,010, and 36,545, 24,930, and 20,411.

Current Liabilities 26,929 26,532 27,194 28,782 26,973

Ratio Quick 1.13 1.18 1.25 0.76 0.63

Current Assets are 33,395, 34,010, and 36,545, 24,930, and 20,411.

Less: Inventories (2,902) (2,675) (2,655) (3,071) (3,379)

Current Liabilities 26,929 26,532 27,194 28,782 26,973

Table 6. Liquidity Ratios.

Figure 3. Current Ratio (GuruFocus, 2020).

As demonstrated in Figure 4, the quick ratio of Coca Cola has likewise decreased over the past five years. This circumstance may necessitate the corporation to get additional loans for operations management.

Figure 4: Speedy Ratio (GuruFocus, 2020). Effectiveness Ratio

As indicated in Figure 5, Table 7 reveals that the company's asset turnover has increased over the past five years due to the sale of its high cost and poor profit-generating units in Europe. A greater ratio value indicates that the company generated more revenue per dollar unit of assets invested.

2015 2016 2017 2018 2019

Asset Turnover 3.49 3.76 4.63 4.37 4.09

Total Assets 89,996 87,270 87,896 83,216 86,381

Total equity 25 764 18 970 19 098 21 098

Table 7. Asset Turnover.

5. Asset Turnover Diagram (GuruFocus, 2020). Profitability Ratios

Table 8 displays the values of the various profitability ratios that have been calculated.

2015 2016 2017 2018 2019

Margin of gross profit 0.61 0.61 0.62 0.62 0.61

Gross Revenue 26 812 25 398 22 491 21 233 22 647

Total Revenue 44,294 41,863 36,212 34,300 37,266

Profit Margin Operating: 0.20 0.21 0.21 0.27 0.27

Profit d'exploitation 8,728 8,657 7,755 9,152 10,086

Total Revenue 44,294 41,863 36,212 34,300 37,266

Margin of net profit 0.17 0.16 0.03 0.19 0.24

Profit After Tax 7,351 6,527 1,248 6,448 8,920

Total Revenue 44,294 41,863 36,212 34,300 37,266

Return on Investment 0.08 0.07 0.01 0.08 0.10

Profit After Tax 7,351 6,527 1,248 6,448 8,920

Total Assets 89,996 87,270 87,896 83,216 86,381

Return on capital employed 0.29 0.28 0.07 0.34 0.42

Profit After Tax 7,351 6,527 1,248 6,448 8,920

Total equity 25 764 18 970 19 098 21 098

Table 8: Ratios of Profitability

The company's gross profit margin has remained relatively stable relative to sales over the past five years, indicating that it has managed its cost of sales effectively. In addition, Table 8 shows that the company's operating profit margin increased from 0.20 in 2015 to 0.27 in 2019. It also had a favorable effect on the company's net profit margin, which increased from 0.17 to 0.24 during the period. The company's return on equity ratio increased from 0.29 in 2015 to 0.42 in 2019. This demonstrates the company's good profitability. However, it is observed that the company's return on assets was poor and could be increased.

Resolution Ratios

The values of two solvency ratios, which measure the company's long-term capital structure, are presented in Table 9.

2015 2016 2017 2018 2019

Total Equity to Total Debt 1.15 1.28 1.64 1.33 1.30

Long-term Debt 29,684 29,684 31,182 25,376 27,516

Total equity 25 764 18 970 19 098 21 098

Equity to debt ratio 1.77 1.97 2.51 2.32 2.03

Total Debt 45,489 45,709 47,685 44,214 42,763

Total equity 25 764 18 970 19 098 21 098

Table 9. Ratios de Solvabilité

The company's long-term debt to total equity ratio grew from 2015 to 2017 as a result of its low profitability, as seen in Table 9. Nonetheless, the business was able to improve its earnings situation in 2018 and 2019, resulting in bigger repayments. The ratio of debt to equity followed a similar pattern, increasing until 2017 and then declining.

Flow of Cash Ratio

Coca-cash Cola's ratio maintained within a narrow range, as it was 0.27 in 2015 and 0.24 in 2019, as seen in Figure 6. Its value dropped in 2017 as a result of the company settling its tax liabilities account, which resulted in an operating cash loss, despite the fact that its value increased in 2016 despite low profitability.

2015 2016 2017 2018 2019

Cash to Assets Ratio: 0.27 0.32 0.22 0.32 0.24

Money and Money Equivalents 7,309 8,555 6,006 9,077 6,480

Current Liabilities 26,929 26,532 27,194 28,782 26,973

Table 10: Cash to Assets Ratio

Cash and Cash Equivalents, Figure 6 (GuruFocus, 2020). Ratios of Market Performance

The company's P/E ratio rose from 22.52 in 2015 to 146.32 in 2017. However, it has decreased during the past two years, as seen in Figure 7. The fact that the company's stock was selling at a high multiple of its earnings per share suggests that investors and shareholders viewed the company and its companies favorably. It was because of this that they were willing to pay a high price for its shares.

2015 2016 2017 2018 2019

P/E 22.52 24.70 146.32 30.03 26.26

Price (31 Dec) 37.58 36.92 42.23 44.94 54.30

Earnings per share diluted 1.67 1.49 0.29 1.50 2.07

Table 11. The P/E Ratio.

Figure 7. Ratios P/E (GuruFocus, 2020).

Statement of Expected Financial Results

Coca Cola's projected consolidated income statement is based on the following assumptions:

In the last two years, the company's sales have climbed by an average of 1.68 percent. However, it is anticipated that coronavirus would reduce its sales in 2020. As a result, it is expected that its sales will only increase by 0.5%. Other items of the income statement will be established by a vertical analysis of the previous year's financial statement.

$ in Millions Dec. 31, 2019 Analysis vertical December 31, 2020

Revenues $ 37,266 100.00% 37,452

Cost of Goods Sold 14 619 39 % 14 692

Gross Profit 22,647 60.7%

Marketing, General and Administrative Costs 12,103 32.48% 12,164

Other Operating Costs and Expenses 458 1.23

Profit d'exploitation 10 086 27.06% 10 136

Gross Income Before Taxes 10,786 28.94% 10,840

Income taxes 1,801 4.83% 1,810

Profit net consolidated 8,985 24.11% 9,030

Forecasted Income Statement, Table 12.

Break-even Analysis

The company's break-even analysis is carried out as follows:

The corporation sold several items and brands with varying prices, sales, and production costs. In 2019, Coca Cola's sales was $37,266 million and its cost of goods sold was $14,619 million. The cost of products sold represents the variable production cost. In 2019, other variable costs include other operating expenses of $458 million. In 2019, the company's fixed costs comprise $12,103 million in selling, general, and administrative expenses.

Break-even Point = Fixed Costs / Variable Costs (Net Operating Revenues – Variables Costs)

Break-even Level = 12,103 / (37,266 – 14,619 – 458) = 12,103 / 22,189 = 0.54545 or 545,450 units.

Conclusions

Despite its global success, Coca-financial Cola's position was eroding, hence the purpose of this study is to investigate the causes behind the company's need to implement operational adjustments to improve performance. The research focuses on the key concerns regarding the company's products, which pertain to their adverse health impacts. The demand for carbonated beverages is decreasing as consumers become more aware of their high sugar content, resulting in an increase in obesity incidence.

According to the industry analysis, businesses are concentrating on meeting consumer wants and expectations and ensuring the sustainability of their operations. The refreshment sector has expanded tremendously over the years, and new companies are entering worldwide marketplaces annually, making it a highly competitive and saturated market. This is a big danger to the company's business and products, but it also presents opportunity for corporations in a strong financial position, such as Coca Cola, to broaden their product line and focus on aligning their strategy with consumer demands. Coca-SWOT Cola's analysis reveals that its strengths consist of a strong corporate brand, popular product brands, distribution controls, a big market share, and a devoted customer base. Coca Cola is a global leader in the beverage sector, with more than 150 years of corporate history and operations in 200 markets selling various brands and products. In contrast, its flaws include poor water management and a centralized commercial strategy that does not prioritize health issues. There are opportunities for the company to develop new products and acquire brands with a stronger position in the market for healthy beverages.

Furthermore, it is indicated that the company's operations are affected by stringent government laws and regulations. Coca Cola, like other corporations, has enormous challenges due to the diminishing demand for carbonated beverages. Coca Cola's chief competition is PepsiCo, which similarly experienced a major fall in revenue from carbonated beverage sales. Both corporations have invested millions of dollars in redesigning and promoting new healthy products. Coca Cola appears to have more effective product development and marketing tactics than PepsiCo. Its marketing strategy indicates that it is aimed at teens and youngsters.

In addition, its pricing strategy takes into account the judgments made by its competitors. The company's management recognizes that the worldwide market is fast changing and that consumers are becoming increasingly health-conscious. During the past five years, the company's profitability remained high, despite substantial fluctuations in its earnings. However, according to the financial analysis, the company's liquidity and solvency were insufficient. The data demonstrates that the corporation was unable to achieve significant earnings growth. In addition, the current pandemic and the slowing worldwide demand for carbonated beverages are anticipated to impede Coca Cola's growth.

Recommendations

Although Coca Cola has a dominant position in the global beverage market and a good financial position, its business and marketing strategies are unclear, according to the results of this analysis. This assertion is based on the fact that the corporation has multiple brands and it is difficult for consumers to distinguish between them because different items are sold in the same market. Furthermore, the popularity and strength of the Coca-Cola brand make it difficult for the firm to divorce it from unfavorable criticism. Customers associate Coca Cola with unhealthy products that are detrimental to human health. It is suggested that the corporation invest in creating a new entity to market healthier items, such as fresh juices and non-carbonated soft drinks. This business should be marketed by adopting a strategy that addresses the concerns and apprehensions of customers regarding carbonated beverages. Negative marketing could have an impact on the company's carbonated beverage sales. However, increasing customer demand for healthy beverages is already impacting the company's sales. It is suggested that the corporation target young consumers by creating fresh brands and items with which they can easily identify. It is mentioned that the organization's social media marketing might be enhanced. The corporation should develop apps that provide information about its goods' contents and calories, as well as their availability in various markets. In addition, the corporation should focus on its high-performing products and cease marketing its low-performing brands and products.

In addition, the corporation might create interactive games for young audiences in order to engage them and educate them about its bottling operation and goods. Finally, it is suggested that the corporation invest in the cultivation of fresh ingredients in order to regulate the costs of making healthy beverages and reduce their pricing. It will increase demand for its items among youthful consumers.

References

Abbis, H. (2017). Coke's marketing strategies: An overview. 4(2), 194-199. KAAV International Journal of Economics, Commerce, and Business Management.

Ciafone, A. (2019). A international history of the worldwide firm is presented in Counter-Cola. Press of the University of California.

GuruFocus (2020). Coca-Cola Co. Web.

Jones, P., and D. Comfort (2018). The Coca-Cola brand and its commitment to sustainability. 1, 34-46, Indonesian Journal of Applied Business and Economic Research.

Kalashnikov, S., & Lutsenko, R. (2020). Analysis of Coca Cola Hellenic Bottling Company's investment potential. Bulletin of V. N. Karazin Kharkiv National University Economic Series, number (98), pages 145-157.

Olukayode, A. (2017). An examination of the organizational culture of businesses, using the "Coca-Cola Company" as an example. [Doctoral dissertation unpublished] Ternopil National Technical University of Ivan Puluj

Serodio, P., McKee, M., & Stuckler, D. (2018). Coca-Cola – A paradigm of research partnership transparency? A network analysis of the research financing of Coca-Cola. Nutrition and Public Health, 21(9), 1594-1607

The Coca-Cola Corporation (2016). The Coca-Cola Company US SEC Form 10K for 2016. Web.

The Coca-Cola Corporation (2018). The Coca-Cola Company US SEC Form 10K for 2018. Web.

The Coca-Cola Corporation (2020). US 2019 SEC Form 10K for The Coca-Cola Company Web.

The Yahoo! Finance website (2020). The Coca-Cola Firm (KO). Web.

Zhang, Z. (2019). Risk analysis of two beverage industry leaders, PepsiCo and Coca-Cola Asian Business Research, 4(3), 42-47.

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The New Psychology Of Leadership Free Essay Help

Table of Contents
Introduction Leader as a Physical Representation of Followers' Social Identity References to Social Identity and Social Reality

Introduction

Leadership has several forms and manifestations, depending on the time and place. In the United States, the most prevalent leadership theories are charismatic, contingency, transformational, and authentic leadership. Reicher et al. (2007) suggest in their paper 'The New Psychology of Leadership' that transformational or authentic leadership styles are the most effective because they adhere to the idea of matching followers' social and group identities. The purpose of this study is to apply the article's concepts to the leadership roles in relation to followers.

Leader as a Physical Representation of Followers' Social Identity

This article's most useful insight is the authors' contention that modern leaders should neither be autocratic tyrants or charismatic motivators, but rather the embodiment of their followers' collective social identity. Reicher et al. (2007) argue, using George W. Bush as an example, that speech and attire can be effective ways for followers to convey their values. Depending on the group of followers they represent, a leader's collection of personal characteristics and beliefs can alter concurrently.

In the 1970s, Henri Tajfel and John C. Turner established that the group defines a portion of a person's sense of self, which led them to develop this idea. Remarkably, this sense of social identity enables individuals to identify and act as group members (Reicher et al., 2007). Consequently, social identity is the basic and inalienable prerequisite of group behavior, as it enables the group to establish common ground and pursue common objectives.

In other words, a leader cannot acquire the acceptance and subordination of followers if he or she is not a member of the group and does not share its social identity. This is not a whim of the followers, but rather an inherent condition of how organizations operate. Understanding this reality is essential for comprehending the function of a leader on any size, from managing a small business to inspiring the nation's ideology. If I were in charge of a business or had a group of subordinates, I would definitely adopt this idea because it yields positive results in practice. A leader who shares the same ideals and struggles under the same conditions as other group members is best able to comprehend the group's requirements and guide it to the attainment of common objectives.

Alternatively, if the leader's goals differ from those of the group, they will have to pretend to share a social identity with the group. This deception will be immediately recognized by many followers, undermining the leader's authority. Consequently, when executives, for instance, want top managers to lead successfully and reach goals that are purely advantageous for the firm but not for the employees, this can be a significant issue. In one way or another, the top manager will represent executives who do not share his or her leadership style by resorting to authoritarianism. Sadly, I have confirmed the reality of this argument as a result of my job experience in a variety of firms with very sophisticated organizational structures.

In contrast, if the top management of the company acts in the best interests of the group, for instance, if the head of state implements new policies in the best interests of all members of society, then we can speak of a genuine sharing of common goals and the strengthening of a shared social identity. However, the leader will be unable to impose a new social identity on the followers. They will be unable to formulate a new policy until they adhere to existing societal trends and beliefs.

Identity and Reality in Social Life

In the second section of the article, the writers provide an example of Abraham Lincoln, whose campaign address appealing to shared American principles united the nation. During this address, the most beloved American president persuaded his supporters to embrace his reforms to unite the states and free the slaves. In addition, Lincoln enriched the social identity of his supporters by proclaiming the Constitution's fundamental principles. The connection between social identity and social reality is often cited as a crucial part of effective leadership by experts. Reicher et al. (2007) discuss the significance of fostering settings conducive to the actualization of social identity. They stress the significance of a congruent social reality. Without such a reality, the followers will be unable to express themselves, and their social identity may rapidly transform into its antithesis.

Let us go from the example of leaders of state and return to the business reality of large and small enterprises, which is more in line with my own experience. In this instance, the market, tax policy, stability, and material security of the country in which a business is performed will determine the social reality. Ethical business leaders – and ethics is an essential trait of transformational and genuine leaders – will operate in the best interests of the group, allowing their subordinates to realize their potential and meet their requirements within the context of social reality. Ideally, the collective vision will enrich and be enriched by the vision of senior management, resulting in a broader and more profound understanding of social reality.

Thus, the article's themes were applied to the interaction between leadership roles and followers. The most important thing is to comprehend and accept the notion that a leader should share and express the social identity of followers. The second part of effective leadership is discovering or constructing a social reality that serves as a forum for expressing the social identity of a group. By satisfying these two conditions, a leader can fulfill their responsibilities by guiding the group towards its common objectives.

References

Reicher, S. D., Haslam, S. A., & Platow, M. J. (2007). The evolution of leadership psychology. American Scientific Mind, 18(4), 22-29.

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Company Analysis Of Easyjet Free Essay Help

Introduction

In this article, the success of “easyJet” is centered on their company analysis phase. EasyJet has been nominated as the European air network's pioneer. To analyze the study, Easyjet's strategic movement has been compared to Emirates, and Easyjet's purpose, vision, and key stakeholder ambitions will be reviewed. This report will also examine the most significant aspects of the external and internal environments, business, corporate, and global strategies, resources and capabilities, strengths, weaknesses, opportunities, and threats, corporate governance programs, organizational structures, PEST analysis, findings, etc.

History of EasyJet

The EasyJet Airline Company Limited, a UK-based airline, began operations in 1995 with two Boeing-leased flights. Currently, the corporation operates around 100 airport directions in 21 European and American countries. The easyjet convoy consists of 75 of its own Boeing 737-700 planes as well as 84 leased aircraft carrying 380 passengers. In 2008, the company generated pre-tax earnings of £123 million and incurred costs of £12.9 million due to the merger with GB Airways. It has been demonstrated that the flexibility and quality of easyJet's business model, along with its people resource, enabled the company to sustain significant growth during the extraordinarily difficult year of 2008, when others were stunned by the effects of the recession.

Creating a strategic vision and organizational mission

Objective of EasyJet

Easyjet's goal is to firmly establish itself as Europe's top low-cost scheduled passenger airline by continuously enhancing and expanding its low-cost service1.

Imagination of EasyJet

To accomplish its plan of being the leading airline and the finest in customer service, EasyJet has established the following objectives:

Be a low-cost leader; Cost management; EasyJet's intention to extend its route network. Develop employees' multitasking abilities; To save passengers time by utilizing point-to-point routes; Make a speedy turnaround; Easyjet focuses on service quality; to assure service quality with luxury; to build exceptional customer service; cutting-edge technology; and to adhere to the ETS2 mandated by the EU. For instance, EasyJet has pledged to cut emissions of greenhouse gases such as carbon dioxide.

Evaluating Performance and Making Corrections

Easyjet

EasyJet constantly compares its competitive advantages to those of other significant enterprises. The following table has been presented from the investor presentation:

Airways EasyJet BA AerLingus Ryanair

Cabin staff

3 4 3 3

Catering

4 5 3 4

Check-in Staff

3 4 3 3

Interior Impeccability

3 5 3 3

Legroom

5 5 3 4

Seat Assignment

4 5 3 3

Seat Relaxation

4 5 3 3

Toilets

3 5 3 4

Value for Money

1 1 3 4

The points represent 1 being the worst and 5 being the greatest. Except for value for money, Easyjet leads in every other category. Its management efficiency exceeds that of every other major airline. While British Airways was collecting fares on between 180 and 200 international intra-European routes, Easyjet was fixed at 130 routes and has since added 91 additional routes; therefore, there is no difference between its competitors.

Emirates: A service audit management team has been assembled to audit at least 500 flights, eight destinations, and 180 call center audits. This assures quality and standard compliance. This auditing team also inspects six main competitors in order to establish a benchmark. Passenger satisfaction is scrutinized at a total of 14 stations per year, and audits are undertaken annually. Whenever errors or missed chances are identified, corrective action is conducted. As opportunities increase, the massive equipment is shifted to a new location.

PEST evaluation of EasyJet

Political variables

It is common knowledge that political conditions alter the business climate, raise or decrease risk factors such as oil prices due to political unrest, and have a negative effect on Easyjet's operations. EasyJet must comply with the ETS3 regulations. In addition, the United Kingdom has joined the single European currency, which will have a direct influence on its businesses, including Easyjet.

Economic factors

Easyjet is currently ranked 37 among the top fifty airlines in the European Union, which illustrates its position and market segments. According to Easyjet's 2008 annual report, the company's total revenue is increasing. For example, in 2008, Easyjet's total revenue was £2,362.8 million and in 2007, it was £1,797.2 million; but, due to the recession, this year's revenue may be lower. However, the company's operating profit has declined, which may encourage it to borrow additional money from financial institutions.

Socio-cultural variables

As a result of society, people, and friends altering economic situations, the business's behavior, attitude, and demand are directly affected. In the United Kingdom, people's attitudes toward eating and health are shifting. Consequently, this circumstance can alter the firm structure in two ways. In addition, the fact that there are individuals of varied culture, color, and religion living in Europe and the United States, 40% of whom are minorities, may have an impact on Easyjet's business.

Technological element

Easyjet invests the most capital to acquire aircraft with the most recent technological advancements while retiring older aircraft within seven to 10 years of delivery. Since 2000, it has committed to reducing CO2 emissions by 22 percent by 2011.

SWOT analysis EasyJet

Strengths

As a result, a strong brand image and firm reputation. EasyJet has a solid reputation. Easyjet Plc's websites consistently present the most up-to-date information about their company and other flight-related matters to travelers and other residents. It provides excellent customer service since, in addition to established customers, new customers are essential to the growth of the company's market sectors. Easyjet has the technology and financial resources to save the company from the global financial crisis. able to compensate for high fuel expenses. Purchase using GB Airways. Develop euro exchange rate. Appropriate innovation and implementation of strategy. The increase in revenue was £ 123 million, which is greater by 13.6% than the previous year. The stance of low fare, no frills has strengthened. Effective advertising and marketing Scale economies and/or learning and experience curve advantages over competitors.

Figure 1: EasyJet Weaknesses from a SWOT Analysis

EasyJet Plc compensated their employees and directors well. Therefore, it should evaluate the strategies of competitors such as Ryanair, British Airways, and Aer Lingus.

Opportunities

EasyJet Plc has efficient staff and administration in order to provide prompt, highly satisfying client service. High level of cost efficiency for future expansion, which will aid in overcoming the current economic crisis. Offering free flights to improve business earnings. Employee relationships are improved, and they always adhere to Easyjet's policies.

Threats

The global economic downturn has had a significant impact on the tourism industry since it creates uncertainty over the future expenditures of both citizens and tourists. Therefore, the financial crisis may negatively impact EasyJet Plc's company. Entry of probable formidable new competitors Reduced expansion in non-EU regions poses risks. Increasing competition among industry competitors may erode business margins. New industries could pose a challenge to EasyJet.

The five-factor model of Porter is applied to EasyJet.

Figure 2 demonstrates Porter's five competitive factors.

The preceding graph illustrates the factors affecting industry competitors. As it stands, purchasers' negotiating power is minimal, and the danger of substitutes is low because the market is saturated. They have little bargaining leverage with the supplier because they can switch to a different method at any time.

Literature review

Several aspects, including strategy, finance, human resources (HR), and information system, must be considered in aggregate when analyzing an organization in order to evaluate its success. These are the basic forces that support firm analysis and success evaluation. The narrative form of these is provided here.

Strategic administration

According to Joel Ross and Michael Kami (2001), a company's strategy is its management's game plan for evaluating market position, operation process, attracting and retaining potential and increasing consumers, achieving organizational objectives, and competing successfully. Managing the tasks of strategy is the heart and soul of a business. ” A managerial process in which a manager develops a strategic vision, sets objectives, designs a strategy, implements and executes the strategy, and evaluates performance, supervises new development, and implements an alternative strategy or corrects an existing one if necessary. The process of strategic management is incomplete if these tasks are not adequately executed. Incorporated within a company study are levels of strategy, as well as internal and external environment analysis employing SWOT analysis. An organization without a strategy is compared to a ship without a rudder.

Financial management

Dess, G., and Lumpkin, G.T. (2008) state that financial management involves the monitoring and control of monetary activity. All types of investments, funding, expenses, earnings, growth rate, share price, dividend per share, and shareholders' equity, among others, are elements of financial management and financial decision-making. In financial management, cash inflows and outflows of a company are monitored. The majority of an organization's performance rests on the efficient administration of its financial activities.

Human resource management (HRM)

According to Anthony, W. P., Perrewe, and Kacmar (1993), human resource management include employees who are directly influenced by the organization's decision-making and management practices. HRM's motto is "the right person in the right job." In addition to planning, recruitment, selection, training and development, compensation structure, and safety and security, the HRM department is responsible for performance evaluation.

Managing information technology

According to Loudon and Loudon's (1995) definition, an information system is a collection of interconnected components that operate in a cumulative manner with the aid of technology such as computer, data base management, and the Internet. Under this system, data pertaining to decision-making, control, coordination, and analysis are gathered, processed, stored, and organized. The foundation of information system management is depicted in the following diagram. Cash receipts, deposits, credit decisions, and payroll decisions are all governed by information. Groupware, e-mail, teleconferencing, data conferencing, and video conferencing are components of the information system.

Findings

In this section of the article, the numerous components of the success of "easy Jet," a major airline firm, are presented. Include the following aspects in their study of success: strategic management, financial analysis, human resource management, and information system management. Using the source of "easyJet's" 2008 annual report after discovering a grievance.

Strategic evaluation

Strategic analysis refers to the application of decision-making, policy-making, production, sales, and advertising tools by all organizational levels. The strategic study of "easy Jet" considers four levels of strategy, as well as internal and external environment analysis. The following is a diagnostic form of "easy Jet's" strategic analysis:

Their services are low-priced and extremely effective, with a solid financial foundation. Construct them as a superior European aviation network. They established a great consumer position as a result of their maximum focus on customer need. In addition to bolstering their financial resources by the acquisition of GB Airlines at the start of 2008, "easy Jet's" network expansion is also a positive factor. Not only establish a robust network in the aviation business, but also maintain an effective network performance. In the winter, restrict margin dilution to improve margins. To accomplish this, they continually enhance their revenue stream. To achieve their objective of reserving £100 million by 2011, they created more than 60 headquarters around the world. Their relationship with Airbus allows them to reduce fleet and ownership costs efficiently. In 2008, they maintained an average fuel price of $1,070, therefore a 50% increase in fuel prices had no effect on their revenue per seat. Through the strengthening of the euro exchange rate in 2008, "easyJet" realized an 11% increase in revenue compared to 2007.

Financial evaluation

From the 2008 annual report of "easyJet," the following table summarizes financial facts. Almost all financial aspects have been accounted for in this table.

Specifics Dollar amount or percentage

Total assets

Liabilities (credit)

Operating capital

Interest

Total earnings or revenue

Profit before to tax

net income after tax

Rate of development

Profit per share

Number of owned or leased aircraft

Revenue per seat

Total operational expenses

Total costs

Advertising

Share capital

Keep earnings

Profit margin

Tax paid 1,680.8

626.9

300.6

53.2

2,362.8 (31.5%%)

110.2

83.2

5.09 (12.6%)

19.4

165

£2.76

2,101.3

2,239.7

46.5

745.9

532.3

70 (%)

14.2

Recommendation

Easyjet Plc can lower expenditures to combat the global financial crisis without laying off people. Easyjet contributes significantly to the economy; hence, it should invest more in advertising, promotion, and R&D. Easyjet is vigilant and effective in protecting its brand in order to maintain and expand its current market share and operations. It should adjust the wage and price of airline tickets in light of the price of oil and the global economy. Easyjet should advertise in order to generate interest in domestic and international travel.

Conclusion

EasyJet, Europe's largest airline in terms of passenger volume, is the subject of this report's company evaluation. Easyjet is the pioneer of low-cost point-to-point service in Europe, and it maintains a policy of administrative efficiency through considerable cost reduction. Relationships with competitors are hostile due to the use of head-to-head advertising and promotional campaigns. Based on the data, it can be concluded that Easyjet will be the unassailable market leader in recent years due to its dynamic and aggressive strategy and financial resources.

Bibliography

Web. Alacra, Inc., 2009. Thomson Financial Business Description, New York, NY 10005.

Air fleets (2008), Emirates. Web.

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(2008), EasyJet airline company limited, Charity. Web.

Easyjet Plc (2008), Annual report of Easyjet Plc (2008), accessed on the Internet.

Easyjet Plc (2008), Easyjet Plc 2008 Financial Statement.

Corporate Governance for Easyjet Plc (2008) Web.

Griffin, R. W., Management, 8th Edition, Houghton Mifflin Company, Boston, New York, 2006, ISBN: 0-618-35459x.

The Blackwell Handbook of Strategic Management, Blackwell Publishing, 2001, ISBN: 9780631218609 Hitt, M. A., R. E. Freeman, and J. S. Harrison.

Kotler, P., and G. Armstrong, Principles of Marketing, Eleventh Edition, Prentice-Hall of IndiaPrivate Limited, New Delhi, 2006, ISBN: 81-203-2825-6

Marketing Management, eleventh edition, Prentice Hall, New Jersey, 2006, ISBN: 0-13-0336297.

Porter, M. E. (2004). Competitive Strategy, Export Edition. New York: Free Press.

Stoner, J. A. F., R. E. Freeman, and D. R. Gilbert, Management, 6th Edition, Prentice-Hall of India Private Limited, 2006, ISBN: 81-203-0981-2

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Thompson, A., et al. (2007). Strategic Management, 13th edition.

Footnotes

Annual report for EasyJet Plc (2008) Emissions Trading Scheme Emissions Trading Scheme

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