Horniman Horticulture Company’s Financial Performance Get Essay Help

Table of Contents
Horniman Horticulture's financial performance. Depletion of cash on hand resolving business cash flow issues References

Horniman Horticulture's financial performance.

Horniman Horticulture (HH) has constantly increased in revenue, profitability, and market value. In reality, a significant number of crucial financial indicators point to sustainable growth. The return on assets (ROA) is larger than the industry standard, showing that the company is making the most of its financial resources. The return on equity (ROE) of 5.4% is more than the benchmark ratio of 4% (exhibit 2), indicating that a greater proportion of net income is allocated to shareholders' equity, resulting in an increase in HH's net worth (exhibit 1). (University of Virginia Darden School Foundation 2006).

Increased business has resulted in a 15 percent increase in HH's revenue. It is anticipated that anticipated prospects would increase revenues by a record 30 percent in 2006, indicating that the company is in a strong growth phase. The increase in profit margins may suggest that prices have increased or that related expenses have decreased. HH has decreased its days payable from the industry average of 26.9 days to 9.0 days. While this strategy will result in the corporation taking advantage of purchasing discounts, it will also lower the organization's liquidity by decreasing cash holdings.

However, fixed assets have been expanding at an atypical rate relative to liabilities, which may explain why cash balances have been decreasing at worrisome rates, preventing the company from reaching its minimal cash balance amount. The majority of HH's purchases, for both current and noncurrent assets, appeared to be financed with cash. Even if the company is prosperous, it may face future solvency issues due to a lack of liquid assets to pay off creditors.

As a result of its diminished credit rating in the money markets, HH may incur higher interest rates when borrowing cash if it falls behind on its debt obligations. In an effort to boost its company, Horniman Horticulture Company has more than doubled the average debt periods for its customers, from 20.9 days to 50.9. This action has diminished cash flow and raised accounts receivable, hence increasing the likelihood of bad debts.

Depletion of cash on hand

Liquidity-decreasing factors are those that contribute to the deterioration of a company's cash position. Inadequate payment terms will have an effect on a company's cash flow by reducing cash levels. Reducing the payment period for creditors and doubling the cash receiving period will strain the organization's financial resources. There will be less money available for operational expenses and future urgent cash needs. Moreover, offering credit to clients is a sort of zero-interest loans.

Excessive debt may increase the likelihood of bad debt, hence increasing the company's losses (Brigham & Ehrhardt 2008). If expenses remain at their annual levels, a decline in revenues will lower a business's cash inflows, putting it in a precarious position. Increases in expenses, such as fuel and maintenance costs, will have a negative effect on cash flow and the balance sheet as a whole. Rapid expansion, such as that seen by HH, if not well managed, could result in an unexpected increase in overhead costs, which will have a negative impact on the company's financial condition, particularly if revenues are not collected on time.

Insufficient cash reserves or safety nets may contribute to undercapitalization. In the event of unforeseen demands, the corporation will be compelled to spend liquid funds intended for operations for other objectives, such as the acquisition of fixed assets. Consequently, utilizing cash for long-term financing locks up the company's available capital, necessitating the usage of leverage for immediate needs. Leverage should be employed in financing schemes that offer larger returns than the rate of interest, however excessive debt raises a business's interest load, resulting in higher expenses.

resolving business cash flow issues

A company should first rearrange its financial structure to encourage the use of debt in operations with high returns. Long-term or noncurrent assets may be acquired via a combination of debt and shareholder equity. The corporation could sell unproductive assets to decrease its tax burden or boost its financial position. Both account payables and account receivables should have their own corresponding payment procedures. The average receivable term should be shortened so as to enhance the rate of inflows into the firm, while the payment period should be lengthened so that the company can benefit from interest-free credit, so increasing the return on equity.

Before granting credit to customers, credit evaluations should be conducted as a precaution against the potential of bad debts doubling. If the owner runs the firm, he or she can restrict the pace of withdrawals or the amount of drawings to ensure that the business has sufficient funds to continue operations. Effective contingency planning and liquidity risk management can mitigate the impact of future risks that may lead to insolvency and eliminate the possibility of insolvency (Berman & Knight 2008).

References

Berman, K. & Knight, J. (2008). What You Really Need to Know About the Numbers to Have Financial Intelligence for Entrepreneurs Harvard Business School Press, New York.

Brigham, E. F., and M. C. Ehrhardt (2008). Theory and practice of Financial Management Cengage Learning, New York, New York

Foundation for the University of Virginia Darden School (2006). The Horniman Horticulture Case Study (case number UVA-F-1512).

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Application Of ERP System In UAE Get Essay Help

Table of Contents
Introduction Application of ERP system in UAE Obstacles encountered in UAE Application of ERP System Conclusion Citations

Introduction

Enterprise Resource Planning is a computer-based system used to integrate internal and external information management in a business, and it encompasses the production, accounting, services, and sales departments, among others. Using an integrated computer-based application, the system automates all of these tasks. It fosters the multilateral flow of information throughout all enterprise business functions. Additionally, it allows businesses to connect with their foreign stakeholders. The system enables the use of diverse hardware as well as network configurations that allow its database to store data. ERP System applications in the United Arab Emirates (UAE) include supply chain management, manufacturing management, customer relationship management, operations management, and finance management (Raqmiyat, para. 3).

Implementation of ERP in the UAE

ERP System is utilized in the administration of an organization to provide pre-built and significant performance indicators, scorecards, trends, and structured reports in real-time, which aid in making better and more informed decisions.

Firms in the United Arab Emirates use the ERP system to exercise total control over all financial data and processes within the firm. The financial management processes consist of managing recurring revenue, budgeting and budget management, managing fixed assets, revenue recognition, and managing the general ledger, accounts receivable and payable. ERP System enables advanced planning and budgeting in real-time and provides continuous financial management solutions for all corporate strategies. It is utilized in cash management, which includes multi-currency transactions and the reporting of real-time data on fluctuations in the value of money on multiple stock exchanges. It is utilized for allocating funds throughout the organization's functional units and business operations, as well as for preparing and reporting financial accounts. The ERP system also helps to consolidate the organization's financial resources. The technology also enables safe, real-time access to an organization's financial performance and gives the organization's extended financial team access to the organization's operational measurements and most recent financial performance (Fleet Management Limited, para. 4).

Through employee training, several businesses in the UAE have used the ERP system to align the human resource management system with the organization's business processes. By examining each individual's job skills, it is utilized to recruit people whose job skills and talents align with the organization's business operations. It is implemented to lower the cost of human resource management by employing an integrated system that keeps employees' data in the organization's database and sends employees' periodic changes in real-time, hence enabling more efficient administration of employees' information. Employee satisfaction is increased by the ERP system's efficient handling of incentive compensation and time monitoring for every employee in the firm. It is used to manage employee benefits, allowing EACH person to choose his or her retirement investing alternatives while still working. It is also used for controlling and reporting spending in human resource management and for administering the organization's payroll system. The payroll system is based on a self-service portal so that every employee can access it at any time (Raqmiyat, para. 1).

ERP System is also utilized in supply chain management to manage inventory and order entry, as well as to accelerate order-to-cash operations and enhance quote accuracy. It is utilized for supply chain planning, procurement management, and supply schedule. It is also utilized in the layout of products, the inspection of commodities, and the processing of commissions and claims. ERP System typically improves the rate at which orders are placed and received (Abdallah and Albdari 23).

In large UAE-based corporations, the ERP System has been implemented to automate the management of information in industrial processes. ERP Systems are used to combine communications to all equipment on the plant floor and also to integrate the sources of the plant floor data, thereby transmitting the necessary information to the plant's database and enhancing manufacturing process efficiency. In addition to handling the billing of materials required for manufacturing operations, it is also utilized for work and production planning and scheduling, quality control, and manufacturing flow control. Cost management involving activity-based costing, as well as workflow management and product lifecycle management, utilize this software (King Fahd University of Petroleum & Minerals, para.1).

ERP System has also been implemented in project management for a number of significant projects in the UAE (Abdallah and Albdari, 19). Using scope management processes, it has been used to determine the scope of the projects in order to prevent continual scope adjustments. It is used to define and manage the project's scope. It is also utilized to staff the project with the most qualified employees. It is used to identify the crucial missing expertise in the project, taking into account the to-be-built interface, and thus to find the proper person or team for the project's execution. The ERP System is also used to schedule both technical and management reviews and to track the progress of each project phase (Trepper, para. 4-13). ERP System is also utilized for costing, billing, and controlling project-related expenditures.

In many UAE-based businesses, ERP technology is also utilized to manage customer connections. It is used in call centers to improve customer service by giving the call center technology with automatic lead selection, hence enhancing productivity and customer happiness. It is utilized for both the implementation and management of virtual call centers and cloud computing centers. ERP System is utilized in the management of sales and marketing activities, specifically in the analysis of many significant market aspects, such as marketing demographics, among others. It is used to manage client connections via its database and to manage customer services in service sectors. ERP System offers numerous self-service interfaces to consumers, suppliers, and workers by transmitting the organization's services to websites (Fleet Management Limited, para. 34).

ERP System is also utilized to administer universities in the UAE. According to King Fahd University of Petroleum & Minerals (paragraph 6), more than eight hundred postsecondary institutions employ ERP systems to manage their operations. The Microsoft-based ERP system for campus administration provides financial solutions, human resource management, and enhancements to student services. UAE University, American University of Sharjah, and Zayed University, among others, are among the UAE universities that have been able to coordinate their administrative and academic business processes using the ERP System.

Difficulties in Implementing an ERP System in the UAE

The majority of businesses in the UAE have always faced significant obstacles when implementing ERP systems effectively. Purchasing and installing an ERP system necessitates large financial resources from the firm, especially when other key decision criteria must be met. These decisions include the alignment of the ERP System's functionality with the organization's business processes, the future-proofing of the technology, and the underlying infrastructure, which consists of the available network system and database, to enable the company to adopt e-commerce effectively. According to Abdallah and Albadri (p.19), the internal and external infrastructure of most firms in the UAE has had a significant impact on the adoption and successful utilization of the ERP System.

Inadequate expertise to assist with the implementation and management of the ERP System's complex procedures, particularly business-specific processes, is a challenge faced by the majority of organizations. ERP System necessitates that employees involved in the implementation procedures conduct their duties differently, grasp the precise user requirements, and be able to analyze the system's functionality to ensure its functional optimality. In the majority of UAE businesses, there is a lack of adequate technical know-how to effectively apply the system. Application of the ERP System necessitates extensive knowledge and skills that enable a holistic life-cycle approach to ERP System management (Abdallah and Albadri 19).

The complexity of the ERP System makes project management difficult, especially when the necessary knowledge is lacking, because it combines the management of the organization's human resources, technology, and business processes. The combination of software applications and a broad hardware system makes it challenging to determine the technological aspect of the implementation process. Therefore, the manager must possess both the technical expertise and business knowledge and skills essential for the ERP System's implementation. However, this is typically lacking in the majority of businesses, making the adoption of the system expensive as businesses must pay consultants and rely on external knowledge. In addition, for the adoption of an ERP system to be successful, most companies in the UAE may not have attained a sufficient level of data integrity. Implementing an ERP system necessitates that inventory records, routings, calculations, and bills of materials, among other data, be comprehensive, precise, and structured properly (Martin 97).

Managing the risks connected with the implementation of the ERP system has caused significant difficulties for the majority of businesses in the UAE. Integration of unproven technology with the ERP system may result in failure, as the majority of companies lack the technological ability to analyze the probable dangers and instead rely on the advise of consultants. In addition, many companies are unwilling to outsource IT services and are instead reducing their expenditures to survive the financial crisis, making the deployment of the ERP System extremely challenging (Raqmiyat, para. 13).

Conclusion

ERP System has been utilized in a variety of business operations in numerous UAE enterprises and government entities. It has produced efficiency in the majority of corporate processes, especially with regards to assuring quality manufacturing and customer satisfaction. Poor skills and inadequate infrastructure provide a significant obstacle to the widespread implementation of the system in the majority of businesses. This necessitates further training and growth of the infrastructure network.

References

Abdallah, Salama and Albadri, Fayez, Ahmad. ERP Training and Evaluation: An ERP Life-Cycle Approach to End-User Characterization and Competency Development in the Context of an Oil and Gas Organization IBIMA Business Review, 2009. Web.

Fleet Management Limited is one of Asia's premier IT companies. Fleet Management Limited, 2008. Web.

University of Petroleum and Minerals of King Fahd Systems for enterprise resource planning 2009, King Fahd University of Petroleum and Minerals Web.

An ERP Strategy: Fortune, by M. Martin. Enotes.com, 1998. Web.

Despite the economic downturn, Raqmiyat continues to sell ERP software to smaller enterprises. Raqmiyat, 2009. Web.

Raqmiyat. Raqmiy displays the 'GEMS' enterprise resource planning (ERP) system at 'GITEX 2008'. Raqmiyat, 2008. Web.

ERP Project Management Is Crucial to a Successful Implementation, by Charles Trepper. IT Administration Earthweb, 1999. Web.

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Methods For Organizing And Measuring Customer Satisfaction Get Essay Help

Introduction

The primary objective of every business is to maximize profits through the provision of high-quality goods and services and the maintenance of a competitive advantage. However, the primary objective of a business is to treat the client fairly and with respect; hence, the expression "the customer is always right." Customer service and satisfaction depend on how they are handled on the business premises. The front-line employees are the actual implementers of a financial institution's goals and have a significant impact on how a consumer perceives the firm. Management is obligated to support the frontline personnel, as customer happiness is directly proportional to employee satisfaction. This research examines the significance of front-line employees and the means by which management may assist them. In addition, it examines methods by which financial institutions might determine the level and style of customer satisfaction with their service delivery.

Important characteristics of branch-based personnel for good customer service delivery

Branch-based personnel typically represent the company's brand and play a vital role in the organization. This is due to their impact on predicting consumers' demands, personalizing service delivery, and fostering long-term connections. In fact, branch employees are the driving reason behind client loyalty and retention. The hiring of these employees must therefore take into account the company's basic principles and culture, notwithstanding the fact that no person is flawless (Lovelock, 1995). The work of branch employees involves interacting with clients. Since their initial impression is what influences the consumer, they must be presentable and adhere to the company's standards and expectations, as well as those of the customers they serve (Evans 2002). This is due to the fact that this may either attract or repel clients.

Personal appearance consists primarily of grooming, body language, and attire. 90% of a customer's impact is attributed to physical appearance, which fosters adoration and a desire to associate with the organization represented by that individual, according to research (Lovelock, 1995). Therefore, it is essential that the workers exhibit high levels of professionalism. However, this does not absolve them of the responsibility to relate well to customers so as not to look too serious and alienate potential clients (Evans 2002). In addition, this must incorporate the staff's voice pitch and tone, accent, and general facial expression, as these will convey real interest or discontent, as well as the employees' attitude (Evans, 2002).

Communication has a crucial role in the job of branch employees, who frequently interact with numerous clients. Therefore, it is essential that they possess effective communication capabilities (Gupta, Lehmann & Stuart 2004). This is evidenced by their abilities to establish rapport with customers, communicate verbally and non-verbally effectively and clearly, ask the right questions in a friendly and professional manner, demonstrate good listening skills to understand what the customer really needs, provide accurate information and explanations, and engage in logical communication with a good beginning and a good ending that leaves the customer satisfied (Payne, 2006).

The branch employees must possess the appropriate skills and knowledge, as well as an emotional connection to the company's core values, objectives, and goals. They must be current on developments and trends within both the organization and the industry (Evans 2002). They must be kept up-to-date so that they can effectively address the many challenges that clients face. Additionally, they must be able to answer consumer inquiries, persuade them, and eventually give exceptional services (Gupta et al. 2004). Effective knowledge and abilities increase the confidence and morale of employees, so encouraging them to provide exceptional service. In addition, it makes them feel like an integral part of the firm, thereby demonstrating professionalism (Lovelock, 1995).

Branch personnel are required to treat clients with empathy in terms of having good listening skills to get the customer's perspective (Payne, 2006), avoiding preconceived notions about the consumer, comprehending what the customer wants, and advising accordingly (Evans 2002). According to Kotler and Keller (2006), they must also be excited about their work and have positive attitudes in order to create a welcoming environment for consumers, business loyalty, and compliance with rules. They must also be adaptable in order to take advantage of possibilities to satisfy clients, as well as resilient to guarantee that they have the proper attitude by striving to improve themselves and become self-motivated and optimistic about their work. Payne (2006) argues that branch employees must display high levels of integrity in terms of honesty and sincerity in delivering the correct information to clients, keeping their word, and preserving confidentiality, particularly in cases where the consumer requests privacy. In these circumstances, they must deal with customers individually.

Davies (2008) states that branch employees must be able to inspire, make decisions, be aggressive, demonstrate a passion in dealing with people and have strong interpersonal relationships, be able to network effectively with others, and possess both vision and stamina. Kotler and Keller (2006) suggest that staffs must also be energetic and able to maintain composure when serving multiple customers simultaneously. They must be adaptable and receptive to the issues posed by consumers, and they must guarantee that suggestions to enhance service are taken and implemented. Payne (2006) emphasizes the significance of branch personnel possessing a sense of humor and the capacity to maintain good interactions with individuals. This, he thinks, will foster an atmosphere of warmth and friendship. Gupta et al. (2004) note that because branch employees work under pressure, it is essential that they have effective stress and time management abilities. This is to ensure that their stress and troubles do not interfere with their work. This is due to the fact that the employee cycle has a significant impact on the customer cycle, which in turn impacts customer retention and loyalty (Lovelock, 1995).

Management's role in helping front office personnel

Management has a significant role in ensuring the happiness of front office employees (Davies, 2008). Lovelock (1995) contends that the management of financial institutions should establish mechanisms that prioritize the client. This, according to him, necessitates that the front-line personnel be acknowledged as the ones directly responsible for the customers and that the entire organization assist them with information and the active participation of senior management. Evans (2002) believes that in order to help front-line workers, management must have a visionary leadership style, allow for creativity and flexibility, involve the staff not from an authoritarian but a partnership perspective, provide opportunities for advancement, lead by example, and be team-oriented.

The notion of motivation, according to Davies (2008), is the foundation for management's support of front-line employees. This, he explains, is accomplished through the application of Maslow's hierarchy of needs in order to comprehend and satisfy their needs, recognize the work done, acknowledge the achievements of the staff, expand opportunities for personal growth and advancement, and provide conducive working conditions. Davies (2008), on the other hand, thinks that employee unhappiness can be avoided through good incentives such as compensation, promotions, bonuses, organizational cleanliness aspects, and the decrease of bureaucratic regulations and processes.

Kotler and Keller (2006) contend that management must be involved in assuring the competence of front-line employees. According to them, this can be accomplished through rigorous training. Training would improve their abilities and levels of competence by increasing their product and service knowledge, interpersonal skills, communication skills, and other key job-related difficulties, such as legal issues. In addition, they assert that, because the role of front-line employees is dynamic, management must enable them to develop their self-assurance, decision-making, and problem-solving skills. Management must recognize their efforts in this regard.

Evans (2002) agrees that interacting with consumers is not a simple activity, and as a result, front-line employees are subject to stress and strain. Therefore, the management must secure their continued productivity not through authoritarian control, but through efficient means. These include hiring professional counselors to provide counseling services to the workers, with the costs borne by management. In addition, the personnel must be trained in stress management techniques. To enhance employee morale, management must provide recreational facilities and organize team-building activities. For instance, HSBC Bank involves its staff in environmental conservation activities such as tree planting, which helps them unwind (Retail Banking Survey, 2007). Payne (2006) emphasizes the significance of including frontline employees in stock ownership and profit-sharing, management choices, information exchange, problem-solving, job redesign, and reorientation in order to enhance performance.

Financial service firms' techniques for determining the levels of client satisfaction they give

Payne (2006) argues that because the customer is the most important individual for financial businesses, it is prudent to analyze the customer's degree of satisfaction because it plays a significant role in major management choices and the organization's structure. Customer satisfaction drives the enhancement of products, the modification of business strategy, and other expansion decisions. Thus, financial service businesses must comprehend the changing demands of customers, provide a mechanism for measuring these needs, address actual customer wants, boost customer retention and loyalty, and maintain a competitive edge in the sector while remaining relevant to customers. Understanding customer satisfaction levels in greater detail enables a business to evaluate its performance and, as a result, provides a chance for growth and development. Davies (2008) says that in order to review customer satisfaction levels, it is necessary to guarantee that customer service is based on a relationship with customers and that quality marketing tactics are linked to customer service. Therefore, the management of financial institutions employs a variety of techniques to determine the level of consumer satisfaction with their service delivery.

Utilizing a focus strategy, financial institutions ascertain the amount of consumer happiness (Davies 2008). This method, according to Davies, allows for market segmentation and the development of a specialized reputation in that field. This enables customers to freely communicate their opinions, requirements, and degrees of satisfaction. Coutts Bank, for instance, provides wealth management services. Payne (2006) contends that a financial institution can determine the amount of client happiness by engaging in social responsibility. This can take the shape of environmental awareness, charity walks, and other community-benefitting programs. This allows for the evaluation of consumer attendance, participation, and attitude. If customers are satisfied, they will support the organization's social responsibility initiatives. For instance, HSBC bank has been actively involved in green marketing for environmental awareness and other efforts for environmental conservation. The Retail Banking study (2007) indicates that with the advancement of technology, financial institutions are better able to evaluate the pleasure of their clients through the maintenance of accurate customer databases and the use of social networks by the younger generation. According to Payne (2006), this can be accomplished by establishing connections and blogs that allow customers to openly share their opinions and ideas regarding the organization's services and products.

Although research requires time and effort, Davies (2008) argues that it is effective in determining consumer satisfaction levels. This can take the shape of consumer surveys or more in-depth research studies involving interviews and questionnaires regarding service delivery. Customer surveys may be conducted by statistical groups measuring industry performance, or they may be tailored to the firm (Payne 2006). For instance, the Retail Banking study (2007) found that customers desired more respect from banks through offerings of helpful services, being respected and valued, establishing personal connections with banks, and clear communications. Customers can be given questionnaires to complete when they visit the organization, and quick interviews can be conducted at the bank to collect the essential data (Payne, 2006).

Davies (2008) argues further that focus groups can be used to comprehend client happiness. This is a component of research in which a company observes how its services have benefited the lives of its customers. In this situation, "if a customer is satisfied, she will tell her friends and family, thereby increasing new customers" (Davies 2008, p. 67). In addition, Davies says that a firm can measure customer happiness by customer retention and product and service utilization. In this situation, once clients are satisfied with an organization, they tend to remain and increase their trust, thereby expanding their transactions with the company. In addition, according to Payne (2006), financial institutions can use the serval technique to determine the needs and levels of client satisfaction. According to Payne (2006), the method employs customer surveys in key areas such as the organization's dependability, tangibility – whether customers are satisfied with the organization's buildings, personnel, communication materials, or equipment – and the general levels of assurance, responsiveness, and empathy towards customers.

Financial institutions must foster a climate conducive to successful communication. According to Kotler and Keller (2006), a good atmosphere enables customers to openly communicate their thoughts on the supplied product and services and to suggest methods to enhance them. This allows a business to determine the level of customer happiness. According to Payne (2006), the introduction of new products and services allows customers to express their emotions. As new goods are introduced, it becomes simpler to communicate with clients and determine their perspectives on the organization's services (Payne, 2006).

Davies (2008) adds that additional measures, such as measuring the number of customer complaints, the amount of money saved, and the inquiries and comments expressed during client meetings, could also be valuable. According to Kotler and Keller (2006), a financial institution can assess the amount of customer satisfaction based on external factors. According to them, the financial market would fall within this category. In this instance, the volume of trading of a financial services company's stock on the stock exchange effects client happiness and their impressions of the company. In addition, information from government and non-government surveys can be beneficial for determining customer satisfaction levels (Payne, 2006).

Bibliography

Davies, G. (2008). Customer requirements. The IFS School of Finance in Canterbury. Evans, M., 2002. Prevention is preferable to treatment: increasing the emphasis on client retention. 7(186-198) Journal of Financial Services Marketing. Gupta, S. Lehmann, R. & Stuart, J., 2004. Valuing customers. Journal of Marketing, volume 1, pages 7 to 18. Kotler, P. & Keller, K., 2006. Marketing Management. The New York location of Pearson Prentice Hall. C. Lovelock, 1995. The human element in managing services. John Wiley Publishers, based in Chichester. Payne, A., 2006. The CRM Handbook: Achieving Excellence in Customer Management The New York-based publisher Elsevier. Retail Banking Survey, 2007. Allegiance Inc.'s Allegiance Pulse of America [Online]

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Enron: The Smartest Guys In The Room Get Essay Help

Explain in one page or less how Enron's ethical collapse may be explained.

The objective of ethics is to establish the nature of morality and to identify and differentiate right from wrong. According to a research by Means (52), ethics is the study of right and wrong. In general, every individual has his or her own code of conduct. The extent to which one's personal ethics are determined by life experiences is substantial. They are also affected by the culture and society in which they are raised and educated. On the other hand, morality requires acting appropriately in various circumstances. A person with good morality can differentiate between right and wrong. Thus, he or she is able to act appropriately in any given circumstance.

Based on the documentary by Altyazl (1), many people viewed Enron's chief executive officer as ethical and of high moral standing. Regrettably, he was unable to reinforce vital ideas that could have kept Enron on track. By not insisting on accounting openness, for instance, management were able to fabricate financial accounts to make the company appear favorable to the public.

Experts from outside the organization began to question the reliability of the company's financial statements as a result. Furthermore, the corporation lost billions of dollars due to crooked personnel because of its unethical culture. In the end, both money and jobs were lost. Unquestionably, the immoral and irresponsible culture at Enron, particularly with regard to financial statements, caused the business to be in a tremendous mess.

According to Forster (538), every business must comprehend the harmful repercussions of unethical conduct. Evidently, Enron's immoral culture deprived the firm of several opportunities to remain at the top. Although Enron's CEO was adamant about fostering an environment in which individuals might realize their greatest potential, he was unsuccessful. His initial concept was to establish a highly moral and ethical culture that would compel individuals to uphold the ideals of respect, integrity, communication, and excellence. Unfortunately, Enron never implemented ethical behavior as anticipated.

How would you describe Enron's culture, and what role do you believe culture played in the company's ethical issues?

Many individuals viewed Enron as a firm with an arrogant attitude. This depiction has allegedly led individuals to assume that Enron could handle any type of risk or pressure without fear of loss. According to Ferrell, Fraedrich, and Ferrell (497), Enron's senior staff believed that no competition stood a chance against the company. In addition, Enron's terrible organizational culture did little to foster honesty and esteem.

Anything could be done, good or terrible, as long as it generated profit for the corporation. Important principles such as respect and honesty were severely compromised throughout the company's activities. Enron's business culture allegedly fostered rule-breaking in pursuit of profit. Rather to focusing on establishing a loyal, dependable, and accountable staff, the company's top executives were given a higher priority. The prevalent culture encouraged employees to cheat and steal so long as they were not detected.

The company's CEO remuneration plan also contributed to its demise. Instead of maximizing profits for shareholders, the remuneration approach was meant to maximize benefits for the company's top executives. The pay model permitted employees, among other wrongdoings, to inflate the value of contracts and earn money through illicit means. In addition to promoting non-standard accounting procedures, the corporation made issues worse. According to Niskanen (259), the executive remuneration structure at Enron caused a multitude of problems with negative consequences.

There were oddities in Enron's compensation scheme that incentivized the company's top executives to manipulate earnings dishonestly. According to Ferrell, Fraedrich, and Ferrell (497), Enron's executive compensation structure was intended to enrich executives rather than generate money for shareholders. As a result, the company's stockholders suffered while the company's top executives continued to get unearned rewards.

Please provide three to five specific actions Enron's CEO might have taken to foster a healthy and ethical culture.

Undoubtedly, Enron's immoral culture leads to unethical conduct. Employee unethical behavior at Enron was a product of the company's unethical culture. Therefore, it is evident that the company's culture needed to be altered in order to favorably affect employee conduct. Enron's CEO could have taken a variety of steps to foster a healthy corporate culture and ensure that the company operated ethically. According to Hill, Schilling, and Jones (374), it is the responsibility of company executives to ensure a healthy working environment. The CEO and his crew committed several unethical acts that may have caused complications. These five are described in the subsequent paragraphs.

The CEO had to ensure that the accounting procedure was entirely transparent before anything else. Even though the company was struggling, the accounting accounts were modified to give the impression that everything was well. Secretly, the company continued to incur losses while executives continued to get astronomical compensation under a fake plan. Several times, the corporation was accused of bribing analysts to provide fraudulent reports regarding its activities.

Second, the CEO may have worked to establish a healthy and ethical culture by always preaching and demonstrating honesty. Although he tried his efforts to establish a clear mechanism for reporting unethical behavior and to support ethical training for employees, he did nothing to urge colleagues to be supportive and reject unethical behavior in any form. Certainly, doing so would have had a significant impact on Enron's culture.

Thirdly, the CEO should have implemented a rigorous structure to ensure that everyone in the organization was held accountable for their activities. According to Hill, Schilling, and Jones (374), the CEO failed to penalize employees who engaged in fraudulent practices to inflate earnings. Employees at Enron were led to believe that immoral activity would be condoned as long as it increased profits by doing so.

Fourthly, it was wrong for the CEO to assign crucial tasks such as partnership management to his deputy. Although the delegation was meant to increase his productivity, this never occurred. The immoral ethos of the organization created an environment in which delegating was ineffective. Several employees, including the CEO's deputy, had been profoundly influenced by the immoral ethos of the organization.

Fifthly, it was unethical for the company's leadership to encourage employees to invest in Enron's stock when they were aware of the stock's depreciating worth. Although it is normal for employees to rely on the decisions and choices made by their leaders, Enron's leadership severely let them down.

Sources Cited

Altyazılı, Türkce. "Enron: The Smartest People in the Room" 2012 YouTube website. Online video clip.

Ferrell, O. C., John Fraedrich, and Linda Ferrell. Boston, MA: Cengage Learning, 2016. Print.

Forster, Nick. Maximum Performance: A Practical Guide to Leading and Managing People at Work, Edward Elgar Publishing, Northampton, Massachusetts, 2005. Print.

Charles Hill, Melissa Schilling, and Garry Jones. Strategic Management: Theory: An Integrated Approach, Cengage Learning, Boston, MA, 2016. Print.

That, Thomas. Business Communication, Cengage Learning, Mason, OH, 2009. Print.

Niskanen, William. After Enron: Public Policy Lessons, Rowman & Littlefield, New York, 2007. Print.

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Nestle Company’s International Management Get Essay Help

Abstract

As a multinational corporation, Nestle creates and implements strategies that enable it to address the needs and challenges of a multicultural workplace. It is not a coincidence that many aspects of HRM resemble employment relations practices in which respect for workers is essential. Changes have increased the need to utilize staff with greater flexibility than in the past. Personal methods and techniques of a manager have an impact on the successful performance and internal culture of any worldwide organization. Language obstacles, unique cultural values, traditions, and religious views, ‘culture shock,’ a foreign work environment, and uncertainty provide challenges for managers and employees.

To adapt to a new cultural setting, a manager must act as a bridge between two cultures. They should balance responsibilities and authority; they must be adaptable and view issues from multiple perspectives. In order to fulfill the needs of a given culture and country, several corporations have utilized foreign models. The workplace factors include organisational structure, delegation of authority, corporate culture, and staff composition. In the design of multinational HR processes and procedures, this is both a total management issue and a management-specific one.

Introduction

Large international marketing organizations can accelerate their growth and performance by adopting and implementing excellent management methods and approaches, according to the global environment as a whole. Nestle, founded in 1905, is one of the largest international firms in the packaged food market. The foreign environment influences the company's operations, performance, organizational culture, and atmosphere. International staffing and development aid Nestle in organizing its human resources (HR) in accordance with the company's demands and strategic objectives (Nestle Home Page 2008).

Management across cultures can be defined as the portion of business activity that is socially transferred as opposed to genetically transmitted. For Nestle, it consists of the concepts through which managers perceive and understand the world, the symbols they employ to communicate these concepts, and the institutions that allow individuals to become socialized and meet their needs.

Difficulties & Obstacles of a Multicultural Workplace

Language problems, unique cultural values, traditions, and religious views, 'culture shock,' a foreign work environment, and uncertainty are the difficulties managers and employees face. As the underlying predictor of a person's desires and biases, cultural variables exert a substantial influence on employee behavior. At Nestle, multinational managers recognize that culture has long signified a people's way of life, comprising their taught behavior patterns, attitudes, and material possessions.

Culture is essentially human-made (Bartlett & Ghoshal 1999). As anything learned, it is transmitted from one generation to the next. The primary issue in a foreign nation is that culture is shared by all members of society, and the behavioral qualities that it entails are represented in the institutions and artifacts of a community. An international manager's responsibility is to adapt to these ideals and effectively respond to cultural norms (Davis, 1989). Nestle characterizes its corporate culture as a "culture of excellence" (see Appendix 1).

Language is the most essential aspect of cultural diversity because the majority of multinational corporations chose English as their official language, local affairs are typically conducted in the national language, and not all employees speak the official language. Attention to language abilities in recruitment and opportunity for employees to learn a second language are standard, uncontroversial measures. Understanding social norms and etiquette in each nation is also a very significant aspect of cultural customs (Davis, 1989).

The previous topic is strongly related to the cultural differences between nations, which cause people to view the same issue differently. The approach is to ensure that there is a shared understanding of these differences and to take conscious action to make decisions that enable different cultures to function as effectively as possible (Bartlett & Ghoshal 1999). In light of the aforementioned facts, managing cultural diversity is crucial for international businesses, since it has a direct impact on the international success and reputation of a company (Sorensen, 2002; Nestle Home Page, 2008).

According to organizational study, Nestle's most notable characteristic is its ‘monoculture,’ which influences all facets of organizational performance and human connections. Nestle is frequently criticized for this technique, which endangers individual distinctions. On the other side, this culture has a good effect on the organization, as evidenced by the low diversity levels and common culture across all employees.

Despite widespread criticism, Nestle considers the impact of intercultural differences on company success (Sorensen, 2002). Diversity has a significant impact on managerial decisions and is founded on the elimination of prejudice within an organization and among its employees. Nestle establishes professional standards for the organization's internal work. Nestle values religious and racial diversity, age disparities and unique personal beliefs of its workers (Bartlett & Ghoshal 1999).

Nestle can only function efficiently by interacting with the external world of which it is a part. The international organization's structure and operations reflect the nature of the environment in which it operates. Uncertain economic conditions, harsh global rivalry, the degree of government intervention, the scarcity of natural resources, and the rapid development of new technologies all contribute to an increasingly unstable environment. Afin de assurer sa survie et sa prospérité future, l'organisation internationale doit be able to rapidly adjust to the external demands placed upon it, with the assistance of its HR management team (Davis, 1989; Nestle Home Page 2008).

Individual and Professional Aspects

In order to perform in a multicultural setting, an international manager must acquire and cultivate specialized abilities. A global manager should act as a bridge between two cultures. They should balance responsibilities and authority; they must be adaptable and view events from various perspectives (Sorensen, 2002). Among the espoused ideals are ethical standards, good product quality, social responsibility, and innovation. Timeliness, responsiveness, and flexibility, courtesy and friendliness, availability and access, sympathy and support, understanding and guidance; all of these, and others such as respect and confidentiality, must be considered as elements in the design of human services where the felt experience of the client is at least as important as procedural or technical precision (Davis, 1989).

Interpersonal skills and outstanding communication abilities, language skills and the drive to live and work abroad, cultural sensitivity and the capacity to endure and manage uncertainty are the most critical competences for international managers. A manager in a foreign nation must be able to develop relationships with employees from diverse cultural and social backgrounds. Nestle implements a stringent set of responsibilities and obligations for foreign managers in order for them to make the right decisions. It has also been acknowledged that the managers of Nestle have crucial responsibilities to a range of stakeholders in addition to the shareholders, and that this should be represented in the organization's statements of purpose, such as mission statements (Bartlett & Ghoshal 1999).

The workplace factors include organisational structure, delegation of authority, corporate culture, and staff composition. Cultural differences may be viewed as a hurdle to achieving a genuinely harmonised single market, although they do not impede international economic transactions (Dowling & Welch 1999). By adjusting to local cultural conditions, Nestle may successfully operate in multiple countries. In fact, it is arguable that the dispersion of cultures provides international enterprises with a competitive advantage over their international rivals, since it enables the identification of national strengths and weaknesses and the development of strategies that capitalize on these vital resources. A small number of foreign employees will assist a management in developing a culture based on shared cultural values and traditions (Davis, 1989; Nestle Home Page, 2008).

Exposure to diverse cultures also affords possibilities to learn new business practices and enhance corporate performance. Importantly impacted by national culture is the multinational business culture, which should also be taken into account (Nestle Home Page 2008).

International corporate culture is the result of the firm's history and evolution, and may be a beneficial approach for multinational corporations in a variety of national marketplaces (Dowling & Welch 1999). It therefore establishes a path for the organization's behavior and procedures that may be distinct from those of other businesses operating in the same area. For the purposes of analysis, cultures and management styles are substantially simplified; based on this reasoning, it is possible to project alternative corporate and business cultures for enterprises operating in other nations (Bartlett & Ghoshal 1999).

Individual Methods of the International Manager

In a general sense, the responsibility of international managers at Nestle is to eliminate bias from the organization and its employees, ensuring that all employees, regardless of gender, ethnicity, religion, and lifestyle, are treated equally. The primary personal strategies employed by international managers are cultural briefing, language training, and assimilation. Nestle, which has a multi-country operation or business, should consider how intercultural differences hinder or promote business success (Dowling & Welch 1999).

This becomes even more important when entering into strategic alliances with organizations in other countries, during acquisitions, when departments in different countries (such as research and development) must work closely together, when individuals from one country are sent to work in another, and when subsidiaries from different countries must commit to a common vision and common methods and processes. A management should introduce their party negotiations and develop a cultural profile for the entire organization, with an emphasis on organisational dimensions and employee-held stereotypes, and should encourage the acknowledgement of personal distinctiveness and individual culture. International staffing and development aid in organizing employees in accordance with a company's requirements (Barham & Conway 1998).

The conservative strategy used by Nestle is characterized by sluggish growth and a stable environment. Innovations as a component of an organization's culture necessitate collaborative processes and the dissemination of knowledge across departments, functions, and organizational levels. Some organizations view their employees as solely economic assets, disposable at any time (Barham & Conway 1998; Nestle Home Page 2008). Obviously, these differences have an impact on how managers collaborate with lower-level employees, on training, and on individual growth. These differences affect motivation and loyalty implicitly. It is vital for an international manager to identify what is seen positive and negative in a new cultural setting, as well as the corporate standards and traditions (Barham & Conway 1998).

At the international level, however, the primary stages of training must be relevant to the external environment in which the organization operates. At different times, different stages of training will be most appropriate. There are a variety of factors acting upon international organizations, many of which necessitate reform. Training for change is essential for an organization's long-term sustainability.

Both the necessity for continuous training to enable transformation and training as a key investment for the future are receiving increased attention. The realization that HRM must be able to work across cultures is leading to a new agenda for the formation of career paths and new skill and learning requirements. Sending successful domestic managers abroad to handle the company's activities in international markets has been deemed suboptimal for a very long time. Social concerns can make a substantial contribution to international business (Dowling & Welch 1999).

This may become even more crucial if the organization's goal involves expansion into new nations or the formation of new alliances and joint ventures. International organizations can contribute to the success of such plans by ensuring that social differences are taken into account when defining common policies, that announcements are made in a manner that is most effective for each culture, and that managers who must operate across international borders understand the nature of the cultural differences at play and adjust their own behavior to achieve the best possible outcome. Management must strike a balance between the requirement for adaptability in handling the challenges and possibilities given by change and maintaining an atmosphere of stability and continuity for the organization's members (Erickson 2000).

Conclusion

Successful cultural management methods have a significant and ongoing role in the international arena, particularly with the expansion of large-scale international commercial organizations and the separation of ownership and management. The management's decisions and actions have a growing effect on individuals, other organizations, and the community. It include establishing policies, developing plans, and making the best decisions feasible. All of this is completed within the framework of how the multinational organization as a whole, and the HR manager in particular, operate within the business's environment and given circumstances.

Bibliography

1999. Bartlett, C., and Ghoshal, S. The Transnational Approach to Cross-Border Management. The second edition was published in London by Ramsden House. Barham, K., and Conway, C. A mentoring method to developing worldwide business and people. The Ashridge Research Group. Davis, S.M. 1989. Future Perfect. Human Resource Management in International Firms. Eds. by Evans, P., Doz, Y., and Laurent, A. London: Macmillan. Dowling, P. J., Welch, D. E. and Schuler, R.S. 1999. South West Publishing's International Human Resource Management, Third Edition. April 2000, J.A. Erickson. Corporate culture is the driving force behind safety performance. Occupational Risks, Volume 62, Issue 4, Page 45. Nestle Home Page. 2008. Accessible at www.nestle.com. Sorensen, J.B. 2002, The Power of Corporate Culture and the Dependability of Organizational Performance. Administrative Science Quarterly, Volume 47, Number 1, Page 70

Appendixes

Nestle’s Culture of Excellence

[supanova question]

Nestle Company’s International Management Get Essay Help

Abstract

As a multinational corporation, Nestle creates and implements strategies that enable it to address the needs and challenges of a multicultural workplace. It is not a coincidence that many aspects of HRM resemble employment relations practices in which respect for workers is essential. Changes have increased the need to utilize staff with greater flexibility than in the past. Personal methods and techniques of a manager have an impact on the successful performance and internal culture of any worldwide organization. Language obstacles, unique cultural values, traditions, and religious views, ‘culture shock,’ a foreign work environment, and uncertainty provide challenges for managers and employees.

To adapt to a new cultural setting, a manager must act as a bridge between two cultures. They should balance responsibilities and authority; they must be adaptable and view issues from multiple perspectives. In order to fulfill the needs of a given culture and country, several corporations have utilized foreign models. The workplace factors include organisational structure, delegation of authority, corporate culture, and staff composition. In the design of multinational HR processes and procedures, this is both a total management issue and a management-specific one.

Introduction

Large international marketing organizations can accelerate their growth and performance by adopting and implementing excellent management methods and approaches, according to the global environment as a whole. Nestle, founded in 1905, is one of the largest international firms in the packaged food market. The foreign environment influences the company's operations, performance, organizational culture, and atmosphere. International staffing and development aid Nestle in organizing its human resources (HR) in accordance with the company's demands and strategic objectives (Nestle Home Page 2008).

Management across cultures can be defined as the portion of business activity that is socially transferred as opposed to genetically transmitted. For Nestle, it consists of the concepts through which managers perceive and understand the world, the symbols they employ to communicate these concepts, and the institutions that allow individuals to become socialized and meet their needs.

Difficulties & Obstacles of a Multicultural Workplace

Language problems, unique cultural values, traditions, and religious views, 'culture shock,' a foreign work environment, and uncertainty are the difficulties managers and employees face. As the underlying predictor of a person's desires and biases, cultural variables exert a substantial influence on employee behavior. At Nestle, multinational managers recognize that culture has long signified a people's way of life, comprising their taught behavior patterns, attitudes, and material possessions.

Culture is essentially human-made (Bartlett & Ghoshal 1999). As anything learned, it is transmitted from one generation to the next. The primary issue in a foreign nation is that culture is shared by all members of society, and the behavioral qualities that it entails are represented in the institutions and artifacts of a community. An international manager's responsibility is to adapt to these ideals and effectively respond to cultural norms (Davis, 1989). Nestle characterizes its corporate culture as a "culture of excellence" (see Appendix 1).

Language is the most essential aspect of cultural diversity because the majority of multinational corporations chose English as their official language, local affairs are typically conducted in the national language, and not all employees speak the official language. Attention to language abilities in recruitment and opportunity for employees to learn a second language are standard, uncontroversial measures. Understanding social norms and etiquette in each nation is also a very significant aspect of cultural customs (Davis, 1989).

The previous topic is strongly related to the cultural differences between nations, which cause people to view the same issue differently. The approach is to ensure that there is a shared understanding of these differences and to take conscious action to make decisions that enable different cultures to function as effectively as possible (Bartlett & Ghoshal 1999). In light of the aforementioned facts, managing cultural diversity is crucial for international businesses, since it has a direct impact on the international success and reputation of a company (Sorensen, 2002; Nestle Home Page, 2008).

According to organizational study, Nestle's most notable characteristic is its ‘monoculture,’ which influences all facets of organizational performance and human connections. Nestle is frequently criticized for this technique, which endangers individual distinctions. On the other side, this culture has a good effect on the organization, as evidenced by the low diversity levels and common culture across all employees.

Despite widespread criticism, Nestle considers the impact of intercultural differences on company success (Sorensen, 2002). Diversity has a significant impact on managerial decisions and is founded on the elimination of prejudice within an organization and among its employees. Nestle establishes professional standards for the organization's internal work. Nestle values religious and racial diversity, age disparities and unique personal beliefs of its workers (Bartlett & Ghoshal 1999).

Nestle can only function efficiently by interacting with the external world of which it is a part. The international organization's structure and operations reflect the nature of the environment in which it operates. Uncertain economic conditions, harsh global rivalry, the degree of government intervention, the scarcity of natural resources, and the rapid development of new technologies all contribute to an increasingly unstable environment. Afin de assurer sa survie et sa prospérité future, l'organisation internationale doit be able to rapidly adjust to the external demands placed upon it, with the assistance of its HR management team (Davis, 1989; Nestle Home Page 2008).

Individual and Professional Aspects

In order to perform in a multicultural setting, an international manager must acquire and cultivate specialized abilities. A global manager should act as a bridge between two cultures. They should balance responsibilities and authority; they must be adaptable and view events from various perspectives (Sorensen, 2002). Among the espoused ideals are ethical standards, good product quality, social responsibility, and innovation. Timeliness, responsiveness, and flexibility, courtesy and friendliness, availability and access, sympathy and support, understanding and guidance; all of these, and others such as respect and confidentiality, must be considered as elements in the design of human services where the felt experience of the client is at least as important as procedural or technical precision (Davis, 1989).

Interpersonal skills and outstanding communication abilities, language skills and the drive to live and work abroad, cultural sensitivity and the capacity to endure and manage uncertainty are the most critical competences for international managers. A manager in a foreign nation must be able to develop relationships with employees from diverse cultural and social backgrounds. Nestle implements a stringent set of responsibilities and obligations for foreign managers in order for them to make the right decisions. It has also been acknowledged that the managers of Nestle have crucial responsibilities to a range of stakeholders in addition to the shareholders, and that this should be represented in the organization's statements of purpose, such as mission statements (Bartlett & Ghoshal 1999).

The workplace factors include organisational structure, delegation of authority, corporate culture, and staff composition. Cultural differences may be viewed as a hurdle to achieving a genuinely harmonised single market, although they do not impede international economic transactions (Dowling & Welch 1999). By adjusting to local cultural conditions, Nestle may successfully operate in multiple countries. In fact, it is arguable that the dispersion of cultures provides international enterprises with a competitive advantage over their international rivals, since it enables the identification of national strengths and weaknesses and the development of strategies that capitalize on these vital resources. A small number of foreign employees will assist a management in developing a culture based on shared cultural values and traditions (Davis, 1989; Nestle Home Page, 2008).

Exposure to diverse cultures also affords possibilities to learn new business practices and enhance corporate performance. Importantly impacted by national culture is the multinational business culture, which should also be taken into account (Nestle Home Page 2008).

International corporate culture is the result of the firm's history and evolution, and may be a beneficial approach for multinational corporations in a variety of national marketplaces (Dowling & Welch 1999). It therefore establishes a path for the organization's behavior and procedures that may be distinct from those of other businesses operating in the same area. For the purposes of analysis, cultures and management styles are substantially simplified; based on this reasoning, it is possible to project alternative corporate and business cultures for enterprises operating in other nations (Bartlett & Ghoshal 1999).

Individual Methods of the International Manager

In a general sense, the responsibility of international managers at Nestle is to eliminate bias from the organization and its employees, ensuring that all employees, regardless of gender, ethnicity, religion, and lifestyle, are treated equally. The primary personal strategies employed by international managers are cultural briefing, language training, and assimilation. Nestle, which has a multi-country operation or business, should consider how intercultural differences hinder or promote business success (Dowling & Welch 1999).

This becomes even more important when entering into strategic alliances with organizations in other countries, during acquisitions, when departments in different countries (such as research and development) must work closely together, when individuals from one country are sent to work in another, and when subsidiaries from different countries must commit to a common vision and common methods and processes. A management should introduce their party negotiations and develop a cultural profile for the entire organization, with an emphasis on organisational dimensions and employee-held stereotypes, and should encourage the acknowledgement of personal distinctiveness and individual culture. International staffing and development aid in organizing employees in accordance with a company's requirements (Barham & Conway 1998).

The conservative strategy used by Nestle is characterized by sluggish growth and a stable environment. Innovations as a component of an organization's culture necessitate collaborative processes and the dissemination of knowledge across departments, functions, and organizational levels. Some organizations view their employees as solely economic assets, disposable at any time (Barham & Conway 1998; Nestle Home Page 2008). Obviously, these differences have an impact on how managers collaborate with lower-level employees, on training, and on individual growth. These differences affect motivation and loyalty implicitly. It is vital for an international manager to identify what is seen positive and negative in a new cultural setting, as well as the corporate standards and traditions (Barham & Conway 1998).

At the international level, however, the primary stages of training must be relevant to the external environment in which the organization operates. At different times, different stages of training will be most appropriate. There are a variety of factors acting upon international organizations, many of which necessitate reform. Training for change is essential for an organization's long-term sustainability.

Both the necessity for continuous training to enable transformation and training as a key investment for the future are receiving increased attention. The realization that HRM must be able to work across cultures is leading to a new agenda for the formation of career paths and new skill and learning requirements. Sending successful domestic managers abroad to handle the company's activities in international markets has been deemed suboptimal for a very long time. Social concerns can make a substantial contribution to international business (Dowling & Welch 1999).

This may become even more crucial if the organization's goal involves expansion into new nations or the formation of new alliances and joint ventures. International organizations can contribute to the success of such plans by ensuring that social differences are taken into account when defining common policies, that announcements are made in a manner that is most effective for each culture, and that managers who must operate across international borders understand the nature of the cultural differences at play and adjust their own behavior to achieve the best possible outcome. Management must strike a balance between the requirement for adaptability in handling the challenges and possibilities given by change and maintaining an atmosphere of stability and continuity for the organization's members (Erickson 2000).

Conclusion

Successful cultural management methods have a significant and ongoing role in the international arena, particularly with the expansion of large-scale international commercial organizations and the separation of ownership and management. The management's decisions and actions have a growing effect on individuals, other organizations, and the community. It include establishing policies, developing plans, and making the best decisions feasible. All of this is completed within the framework of how the multinational organization as a whole, and the HR manager in particular, operate within the business's environment and given circumstances.

Bibliography

1999. Bartlett, C., and Ghoshal, S. The Transnational Approach to Cross-Border Management. The second edition was published in London by Ramsden House. Barham, K., and Conway, C. A mentoring method to developing worldwide business and people. The Ashridge Research Group. Davis, S.M. 1989. Future Perfect. Human Resource Management in International Firms. Eds. by Evans, P., Doz, Y., and Laurent, A. London: Macmillan. Dowling, P. J., Welch, D. E. and Schuler, R.S. 1999. South West Publishing's International Human Resource Management, Third Edition. April 2000, J.A. Erickson. Corporate culture is the driving force behind safety performance. Occupational Risks, Volume 62, Issue 4, Page 45. Nestle Home Page. 2008. Accessible at www.nestle.com. Sorensen, J.B. 2002, The Power of Corporate Culture and the Dependability of Organizational Performance. Administrative Science Quarterly, Volume 47, Number 1, Page 70

Appendixes

Nestle’s Culture of Excellence

[supanova question]

Advantages And Disadvantages Of E-Recruitment In Asia Get Essay Help

Abstract

E-recruitment is a relatively new subtype of conventional recruiting. Numerous academics indicate that this Human Resource Management strategy has the potential to displace the traditional one. It is acceptable to conclude that the implementation of e-recruitment differs by geographic region due to the presence of diverse groups with distinct cultures. Therefore, it is vital to undertake numerous studies on e-recruitment-related topics.

The author of this study examines the pros and cons of e-recruitment in Asia, which is one such topic. This article addresses the inherent advantages and disadvantages of e-recruitment in Asian nations. In addition, the author provides guidance for Human Resource Management novices and experts who envision the region in question as their future workplace. In addition, topics for potential future research are discussed.

Introduction

Recruitment is one of the business phenomenon's cornerstones. It "includes those practices and activities conducted by the organization with the primary objective of identifying and attracting prospective employees" (Tyagi, 2016, p. 1). The rapid growth of digital technology and globalization have contributed to the emergence of e-recruitment techniques, which have greatly increased the capabilities and responsibilities of Human Resource managers.

According to Tyagi (2016), e-recruitment "refers to the practice of advertising job openings online and the formal sourcing of job-related information online" (p. 1). There is little doubt that this remark applies to enterprises in all regions. Therefore, it is essential for any economic expert to research and understand the fundamentals and intricacies of e-recruitment in Asia.

Object of the Study

As stated previously, it is vital to understand both the theory and practice of utilizing web resources to efficiently recruit highly skilled specialists in a certain field. Studying the pros and downsides of regional e-recruitment is one manner in which the learning process can be accomplished.

There is literature on e-recruitment in Asia; nevertheless, there are insufficient sources on the regional specifics of this practice to close the knowledge gap on this topic, particularly with regard to its advantages and disadvantages. Through library research, the author of this paper intends to discover and describe the benefits and drawbacks of e-recruitment in Asia.

Importance of the Research

Every year, if not every day, new digital services and internet platforms continue to develop. From a Human Resource Management standpoint, a number of them are potential instruments for locating and hiring new, successful personnel. E-recruitment has been prevalent in Asia for many years. Appropriately, it can be enhanced through research on the advantages and disadvantages of regional e-recruitment. The author is convinced that both employers and employees will benefit from this, as they are the intended audience for this study. Moreover, this article offers a novel perspective on the phenomena of e-recruitment.

Research Concerns

Each researcher should articulate one or more research questions in their investigation. The author of this book conforms to this principle as well. It is essential since it is a necessary component of the research process that provides the study with clarity. Four theme questions were developed in this work:

What should be regarded a benefit of electronic recruitment? What should be regarded as a drawback of electronic recruitment? What are the advantages of electronic recruitment in Asia? What are the drawbacks of electronic recruitment in Asia?

Each question will be answered in detail.

Hypothesis

Developing a hypothesis is a crucial stage in all types of research, including library and field studies. According to Cambridge Dictionary (2020a), a hypothesis is "an idea or explanation for something based on known facts but not yet proven" (para. 1). Current research proposes that e-recruiting in Asia has a number of major regional advantages, some of which are unique and others of which are universal, and a number of disadvantages of the same sort.

The Objectives of the Study

Research objectives are those elements of the methodology that preserve coherence and precision in the study's execution. By constructing them, researchers gain a knowledge of the findings they will obtain and the appropriate approaches to employ. Within the scope of this work, the author has highlighted the following essential objectives:

Determine and characterize the geographical advantages of e-recruitment in Asia. To identify and describe regional e-recruitment weaknesses in Asia.

These two primary goals will be pursued in this paper.

Literature Review

Since the beginning of this phenomena, numerous economists and sociologists have been interested in e-recruitment in general and its geographical and other aspects. To recognize and emphasize both the positive and bad features of e-recruitment in Asia, one must first comprehend its nature. Therefore, it is vital to examine the pertinent scholarly sources. Here is a summary of the literary sources that the author used in order to answer the research questions and accomplish the stated objectives.

The Heart of Electronic Recruitment

E-recruitment is still a novel topic for Human Resource Management students and beginners. This remark applies mostly to the regional aspects of this activity. In his book, Dr. Ajay Tyagi (2016) explains e-recruiting fully, including its implementation, benefits and obstacles, trends, methodologies, evaluation model, and pertinent and important regulations and procedures. Among the limitations of Tyagi's work is that the author pays little attention to the local characteristics of e-recruitment and instead focuses on its universal qualities. The sole region mentioned by the author is India, which is a fairly unique location within Asia.

Advantages and Disadvantages: Meaning

The Cambridge Dictionary includes definitions and descriptions for every English word. Their characterization of advantages and downsides is compatible with the vocabulary of electronic recruitment. They assert that an advantage is a condition that increases the likelihood of success (Cambridge Dictionary, 2020b, para. 1).

In addition, they define a deficit as "a condition or circumstance that causes problems, particularly one that causes something or someone to be less successful than other things or people" (Cambridge Dictionary, 2020c, para. 1). It is vital to clarify the definitions of distinct topics to prevent confusion among readers.

The Positives and Negatives of E-Recruitment in Asia

Some advantages and disadvantages of electronic recruitment are shared by all regions, including Asia. Marques (2017) investigates the advantages and disadvantages of e-recruitment by examining and contrasting digital frameworks such as Web 1.0 and Web 2.0, as well as various social platforms for recruiting and job search. The researcher identifies the advantages of e-recruitment as cost efficiency, time efficiency, substantial geographical reach, higher quality candidates, improved candidate relationship management, targeted search, and reinforcement of employer branding (Marques, 2017).

The author notes briefly the high expenses of e-recruitment software and training for Human Resource workers, spam and an overabundance of applications, privacy and data protection concerns, as well as ethical, legal, and informational ambiguities with online recruiting (Marques, 2017). Important omissions in work include the brief mention of the difficulties of e-recruitment and the underrepresentation of Asian-origin audience members in the sample.

A similar study conducted in Bangladesh, which is part of Asia, demonstrates that the aforementioned universal benefits of e-recruitment are intrinsic to the Asia region. According to Sultana and Sultana (2017), e-recruitment is "effective in terms of speed, cost, time, and accessibility, reducing workload, reaching a large pool of candidates, meeting specific requirements, attracting passive job seekers, and boosting organizational performance" (p. 10).

In addition, they discovered that the screening phase is the most advanced phase of e-recruitment in Asia (Sultana & Sultana, 2017). The specificity of the region in which the investigation was conducted is the weakness in their work. In other words, the conclusions may not be applicable to Japan, Hong Kong, or China.

In Malaysia, a second study on e-recruitment and job searching was done. Woon et al. (2019) investigated "jobseekers' attitudes toward e-recruitment system usage by Malaysian job seekers" (p. 76). Researchers have discovered that e-recruitment applications that emphasize perceived utility are in high demand among job seekers (Woon et al., 2019).

It was discovered that E-recruitment systems that employ perceived information content quality and perceived search engine optimization models are less advantageous (Woon et al., 2019). Therefore, Human Resource personnel in Asia should accept and utilize e-recruitment software based on perceived usefulness, since it has a considerable edge in the mobile application industry.

Another study illustrates the significance of perceived utility in Asian e-recruitment. Priyanka (2016) set out to investigate an issue comparable to that indicated in the preceding sentence: the principles of IT adoption. The author discovered that not only perceived usefulness but also perceived simplicity of use are crucial factors in the adoption of e-recruitment systems (Priyanka, 2016). The disadvantage of the work can be attributed to a specific population, namely university students in Bahrain. It reduces the applicability of the study's findings and conclusions to other regions in Asia.

Other researchers have did a study on the acceptance and utilization of mobile applications for job hunting. Dhiman and Arora (2018) explored what encourages students to select a specific job-hunting software. It has been discovered that social influence plays a crucial role in the adoption and utilization of electronic recruitment techniques (Dhiman and Arora, 2018). The aggressively promoted and heavily publicized job search application has an advantage over its competitors in South Asia, including India.

Human Resource Management in general and e-recruitment in particular are advancing at a rapid rate in the developing nations of Asia, particularly in South Asia. Wajeeh-ul-Husnain et al. (2020) planned to investigate the practices employed by Human Resource managers of organizations in South Asian nations including Bangladesh, India, the Maldives, Nepal, Pakistan, and Sri Lanka (p. 1).

They reached the conclusion that both behaviors common to all Asian nations and methods peculiar to that region are utilized (Wajeeh-ul-Husnain et al., 2020). E-recruitment in South Asia is similarly less established compared to developed nations in the West and regional neighbors like China, Japan, and Singapore.

Asia's e-recruitment application has an additional important disadvantage. The study reported in this paragraph was conducted in Malaysia, which must be clarified. In their study, Tan et al. (2017) determined that the majority of existing job portals do not include unskilled employment categories (p. 141). These industrial sectors must be clarified as "construction, hotel, manufacturing, restaurant, sales, and services" (Tan et al., 2017, p. 141). It is safe to state that this is a significant flaw of the Asian e-recruitment strategy. Because of this shortcoming in the e-recruitment system, Human Resource workers are missing out on a large number of candidates who would make excellent employees.

Summary of the Literature Review

A literature review is an essential step for both the researcher and the readers in understanding the study issue. This article presents and describes relevant digital sources that examine the topic of e-recruitment, its strengths and drawbacks in the Asian context. Recent sources focus mostly on South and Southeast Asia, while China, Singapore, and Japan, the major players in the Far East, receive minimal coverage. Researchers analyze the advantages and disadvantages of e-recruitment in Asia concurrently in only three studies. Clearly, additional research is required on this topic.

Methodology

Research Plan

There were two research alternatives available: library research and field research. The author has selected a research design consisting of library research, or, alternatively, a research strategy consisting of library research. It should be highlighted that “library research involves the process of gathering information to produce a paper” (“Library research process,” 2020, para. 1).

The first phase of this research approach is the introduction, which comprises a description of the topic at hand, the aim and significance of the study, and the creation of research questions, a hypothesis, and research objectives. It is followed by an explanation of the methodology and a review of the relevant literature. The last steps consist of a summary of the results, the formulation of conclusions, and the debate.

Samples

The nature of the samples that were discovered, screened, evaluated, and analyzed as part of this study should also be mentioned. This study's samples included a textbook, various digital scholarly articles on the topic of e-recruitment in Asia, and an online dictionary. This sampling is constrained and determined by the design of this study, which is, as stated previously, library research. Since the author of this work investigates phenomena, qualitative approach is also a factor.

Procedure

The author initially selected the topic and format for the research. In addition, the required scholarly sources that served as examples were located using Google. Asia, 'e-recruitment,' 'advantages and drawbacks,' and 'e-recruitment' were the keywords. ” The author has evaluated numerous sources and selected relevant ones. Through content analysis, the content of scholarly publications was assessed and the data was analyzed. In addition, the author prepared and presented the results and conclusions based on the received information.

Methodology for Analyzing the Outcomes

Standard way for examining qualitative data and study outcomes is content analysis. Roller and Lavrakas define content analysis as "the systematic reduction of content, with special attention to the context in which it was created, in order to identify themes and extract meaningful interpretations from the data" (as cited in Roller, 2019, para. 4). This approach was selected and utilized in this work as well. It has been determined that content analysis is suitable for addressing research questions and fulfilling its stated goals.

The Findings of the Study

In addition to a full explanation of the advantages and disadvantages of e-recruiting in Asia, the findings of this study also include recommendations regarding job search software for Human Resource Managers. E-recruitment in Asia is advantageous in terms of work, cost, and time efficiency, geographical reach, candidate quality, candidate relationship management, targeted search, employer brand reinforcement, and decreased burden.

Regarding online recruiting, the drawbacks include high expenses for e-recruitment software and training of Human Resource workers, application spam, privacy and data protection concerns, and ethical, legal, and informational ambiguities. Numerous businesses, particularly in Asia's developing nations, need hasten the development of their Human Resource Management processes. Other phases of the recruitment process besides screening must be enhanced.

The Human Resources department must adopt techniques that allow for active, if not aggressive, advertising of their mobile job search applications. E-recruitment software should be founded on the concept of perceived utility and the premise of perceived simplicity of use. In addition, Human Resource managers should come to regard unskilled job sectors as an integral element of the labor market.

Conclusion

Results within the Context of the Subject

This eleven-page article provides a comprehensive summary of the characteristics, especially the strengths and limitations, of e-recruitment in Asia. It also discusses the strategies that Human Resource managers should adopt in the region mentioned. According to the author, the literature evaluation offered here organizes previously disparate publications. In addition, the author asserts that the data and their interpretations demonstrate the logical and ideological continuation of this research.

The Significance of Results

The author of this study believes this work will be valuable for Human Resource personnel in Asian branch offices, particularly those in emerging nations. This material may also be useful for Human Resource Management students who regard Asia as a viable destination for future employment. Not just the findings, but also the study method itself considerably increased the author's Human Resource Management expertise and professional skills.

Implications of the Findings and Possible Future Directions for Research

The author believes this work has the potential to serve as a foundation for future research on other recruiting and e-recruitment peculiarities in Asia. This study's structure could serve as a model or framework for other students studying the advantages and disadvantages of e-recruitment in other regions, such as Eastern Europe, Africa, and South America.

The author suggests that additional researchers study how the described characteristics of e-recruitment have altered since the COVID-19 pandemic. Comparing the trends and tendencies of e-recruitment and traditional recruitment before and after the implementation of COVID-19 limits is an additional intriguing issue. A post-COVID-19 analysis of Human Resource Management as a practice and academic field is also advocated.

References

Cambridge Encyclopedia (2020a). The Cambridge Dictionary Online, "Hypothesis."

Cambridge Encyclopedia (2020b). Web version of the Cambridge Dictionary.

Cambridge Encyclopedia (2020c). Disadvantage. Web-based Cambridge Dictionary.

Library research methodology (2020). Web resource for the Elmer E. Rasmuson Library.

Marques, L. P. R. (2017). The advantages of e-recruitment: Web 1.0 and Web 2.0 [Doctoral dissertation, unpublished]. ISCTE-IUL School of Business.

Priyanka, S. (2016). The influence of perceived simplicity of use and perceived usefulness on university students' adoption of electronic recruitment. Web.

Roller, M. R. (2019). A superior method for qualitative content analysis, including comparisons to other qualitative methodologies. Twenty years of Forum Qualitative Sozialforschung/Forum: Qualitative Social Research (3). Web.

Sultana, N., & Sultana, N. (2017). Analyzing the efficacy of online recruitment: A case study of Bangladeshi recruiters 7(2) Asian Business Review, 10-84. Web.

Tan, J. K., N. K. Lee, C. H. Bong, and S. A. Sofian (2017). Using the Kansei Engineering Method, identify personality factors for recruiting of unskilled occupations. 9(2-9), 141-146, Journal of Telecommunication, Electronic, and Computer Engineering (JTEC). Web.

Tyagi, A. (2016). E-effect recruitment's on human resource. Horizon Books (A Division of Ignited Minds Edutech P Ltd).

Wajeeh-ul-Husnain, S., Shen, J., & Benson, J. (2020). Human resource management (HRM) practices in South Asia: convergence, divergence, and intra-regional variation. Asian Business & Management, 1-22. Web.

Woon, C. K., J. S. K. Singh, and J. S. K. Singh (2019). Intention to use an e-recruitment system: empirical data from Malaysian advertising industry job seekers 6(2) of the International Journal of Business, Economics, and Management, pp. 76-86. Web.

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FedEx Company’s Strategic Management Get Essay Help

Table of Contents
Introduction Prior Studies of Brand Cases Hypothesis Procedure Collecting and Analysing Commentary and Implications Future Research Topics Citations

Introduction

The footwear sector is comprised of businesses that offer footwear such as dress shoes, sneakers, boots, and sandals, in addition to athletic and work-related products. In 1648, Boston shoemakers and their colleagues in the tub and barrel-making industries created the first labor union. In 1774, Johann Adam Birkenstock enrolled as a shoemaker in a tiny German community. In 1897, Johann’s grandson created the first contoured insole, which was essential in the production of footwear thereafter.

It should be mentioned that Birkenstock has remained a popular brand, and that its orthopedic achievements are still highly regarded. Small but major achievements of numerous inventors and businesses have affected the market availability of items throughout the footwear industry's history. Due to fluctuating customer needs, footwear businesses have adapted their innovations to accommodate the latest fashions.

As the first shoe stores appeared, the footwear industry relied on the ability of physical shops to display the available selection and convince potential clients to make a purchase. The future of brick-and-mortar shoe stores is currently uncertain, as both local and international retailers provide online shopping. Now, it is essential for merchants to adapt to changing consumer preferences and requirements in order to give a valuable experience. This article intends to examine the macro-level changes that footwear retailers have seen over the past two decades as a result of internet shopping's disruptive processes.

Prior Studies

The implications of online purchasing on the success of brick-and-mortar retailers have been thoroughly examined. According to Pozzi, the increased availability of online purchasing has had two significant effects on traditional retail (569). First, as customers' travel expenses have decreased because they no longer need to visit physical stores, they have become more open to trying new products. Second, footwear sector revenues have increased in regions with stronger rivalry, indicating that internet channels are able to shift customers' attention away from competing enterprises.

Singh and Meshram cited the rise in online sales of apparel and accessories by younger generations (150). 73% of the study’s respondents indicated that they shopped for clothing and accessories online. Approximately 40% of internet shoppers are between the ages of 25 and 30, and 73% of the study’s respondents indicated that they shopped for clothing and accessories online (Singh and Meshram 151). Although the statistics do not imply that customers never purchase in physical locations, the trend indicates a shift in the prevalence of online purchasing, particularly among younger consumers.

Given the prevalence of shoe stores in shopping malls, it is vital to discuss the impact of online shopping on malls. According to Yan, the decline in visits to shopping malls cannot be directly related to the rise of online shopping (40). For online merchants, total sales have been rising, with significant corporations such as Amazon generating over US $140 billion in annual revenue (Yan 40).

However, online retail is not the only driver in the closure of stores in shopping malls; other factors, such as the bankruptcies of big retailers such as J.C. Penney, have also contributed to the decline in the success of physical shopping malls.

Companies that offer products to customers online tend to compete largely on price differential due to the high concentration and increased rivalry of online shopping. As a result, online retailers have lower prices to entice customers (Dahiya 1499).

As a result of this rivalry, brick-and-mortar stores are forced to reduce prices and cannot make a profit or keep a significant stock. Online retailers, on the other hand, are able to provide a greater assortment of products since they do not have to pay rent to malls. To remain competitive, brick-and-mortar retailers should use the popularity of internet purchasing. According to Moes and Vliet, establishments that have a strong online presence and showcase their brick-and-mortar locations are more likely to have increased purchasing intent and increased likelihood of being visited by potential customers (1). The good impact of online on brick-and-mortar retail has been attributed to both novelty and enjoyment.

The value of the worldwide footwear market is projected to reach $530,3 billion by 2027, up from $365,5 billion in 2020 (O'Connell). As footwear is comprised of many materials and serves a variety of functions, prospects to expand the market remain pertinent. Major footwear manufacturers, such as Nike, have reacted to current fashion trends and begun producing footwear using recycled materials. Increased customer health consciousness has been key in transforming the sector, with a larger emphasis on fitness and exercise-oriented items.

Display Cases

It is essential to highlight footwear juggernauts like Nike, Adidas, and Vans when discussing firms that take advantage of modern technologies. The company was founded in 1964 (originally under the name Blue Ribbon Sports), built its first retail location in 1966, and debuted as Nike in 1972. Nike has shops and distributors in more than 170 countries at the beginning of the twenty-first century. Roger Federer, Tiger Woods, and Michael Jordan, among others, have always been used to promote the brand's products. Nike did not close its stores in response to the growing popularity of online shopping; rather, the company opted to use new technology to enhance the brand's market position and attract new audiences.

Nike has progressed over the years toward adopting a person-centered approach to interacting with its internet audience. Today, Nike has around 200 social media accounts worldwide, all of which are designed to give customers with the same joyful experience. Nike educates its employees to engage in relevant and personalized social media interactions with customers in order to assist potential customers in locating the best product for them. The brand looks for actionable client demands in order to assist multiple customers simultaneously. Without relying on physical storefronts, Nike was able to establish a community around its brand with this method (Balan 2).

Due to the rising availability of online purchasing, it was crucial for Nike to use Facebook, Instagram, Twitter, and other social media platforms to communicate visually with its target audience (Balan 2). The narrative produced by the firm is that the Nike community is not centered on purchasing from the brand, but rather on sharing experiences and asking support-related inquiries. While Nike maintains physical storefronts, the majority of customer interactions and communication occur online.

In terms of its use of internet ways to attract clients, Adidas has taken a similar approach to Nike. The company, which was founded in 1924 as Gebrüder Dassler Schuhfabrik and renamed Adidas in 1949, has positioned itself as a leading manufacturer of the finest athletic equipment. The corporation is the second-largest sportswear maker after Nike and, as such, competes with its primary opponent in every way.

The company lays major emphasis on web-based transactions. However, the primary objective of the web strategy was to become closer to global clients and become their first choice for sports footwear and apparel. While maintaining physical stores, Adidas utilized e-marketing and e-commerce to increase its audience and customer base, offer a variety of services through its always-open online store, enable customers to express their preferences for product development, collect data and statistics on product preferences, and promote the brand.

Digitalization has provided Adidas with a new weapon to increase the popularity of its footwear and other items (Graesser 188). Social media advertising encourages active participation from Adidas customers, who frequently indirectly contribute to the company's growth. In addition, there is a degree of segmentation between customers who buy Adidas shoes online and those who shop in physical stores. Online, the business communicates with younger consumers that frequently use social media, whereas offline, retailers typically cater to older clients. Consequently, the changes in how Adidas markets to various demographics stem from altering customer behaviour.

Vans' social media strategy is the one that appeals most to the younger demographic of internet shoppers. In 1966, the company built its first physical store to sell footwear directly to the public. In the 1970s, the brand gained immense popularity among skateboarders, with Vans maintaining its emphasis on younger customers. In 1998, for instance, the firm introduced the first indoor and outdoor skatepark of its kind in Orange County (“A Brief History of Vans: Off the Wall”).

2004 marked the beginning of the transition to digital marketing when Vans opened its Customs section on its internet to provide customised footwear. In its advertising campaigns, the brand enlisted celebrities well-known to young people and began connecting with its target audience online. Due to the company's concentration on younger people, social media has become the centerpiece of its marketing approach. Vans uses Instagram, Facebook, Twitter, and other media to advertise the latest footwear models and provide intriguing brand data. The strategy of Vans is infused with a sense of community, a characteristic shared by all three companies examined in this study.

Hypothesis

The rise of social media and Internet penetration in the daily lives of prospective customers has also been ascribed to the increase in demand for footwear. The growth of social media and digital communication has prompted the top players in the footwear industry to promote their products and services via the Internet. However, it may be postulated that brick-and-mortar footwear businesses can gain from leveraging internet solutions.

While online shoe purchasing dominates and the market continues to expand, brick-and-mortar stores will not disappear entirely if they learn how to employ digital means to attract customers. Thus, footwear businesses should view online purchasing as an opportunity, as evidenced by the success of Nike and Adidas in combining online and offline retailing to create a unique marketing approach.

Methodology

The research will be qualitative, consisting of a comprehensive literature evaluation on the influence of online shopping on the physical footwear retail industry. A well-executed systematic review might be important for merging relevant research evidence to inform the current study and comprehending the key trends and ideas pertaining to the problem at hand (Seers 36). In addition to providing evidence of trends, the proposed method, which relies on a literature study, would enable the formulation of recommendations for how offline footwear shops might overcome the problems provided by online shopping. A comprehensive qualitative assessment of studies can also reveal new trends, frequently shedding light on why particular trends are arising and how to handle them.

Collecting and Analysing

The researcher will explore relevant databases, including Elsevier, EbscoHost, and GoogleScholar, to collect data for the systematic review. Relevant articles must have been published in English during the last seven years. The identified papers will then be evaluated for compliance with the eligibility criteria. The titles and abstracts of the works will be screened by an impartial reviewer, who will subsequently examine the complete texts of the selected research publications. In the analysis, standard forms of data extraction will be used, and the quality of the included studies will be evaluated using a standardized qualitative research rating instrument.

For instance, the reviewer will respond to questions regarding the clarity of the study objectives, the adequacy of the technique and the design, the significance of the recruiting strategy and data collecting, the consideration of ethical issues, and the rigor of the data analysis. Research will either be included or eliminated from the analysis based on the quality of the evidence and the information supplied.

Commentary and Implications

The influence of online shopping on brick-and-mortar businesses is a field of study with various components and aspects. For footwear manufacturers with physical locations, the most effective strategy is to leverage online purchasing and social media promotion (Powell). As evidenced by the situations of Nike, Adidas, and Vans, footwear companies must cultivate a feeling of community around their brands and engage prospective customers in a dialogue about their expectations around footwear and other athletics-related products.

Successful footwear companies have mastered the use of social media marketing to promote their products and services. Those who have not adapted to new market trends and consumer needs are more likely to face the negative consequences of digitalization and a decline in the number of customers visiting physical stores.

Future Areas of Research

Successful footwear brands' implementation of best practices is a possible research topic. While some shoe firms struggle to attract customers in physical stores, others respond to market demands and make the necessary adjustments to remain regionally or globally relevant. Implementing a move toward digital marketing for a company that previously relied on brick-and-mortar retail and measuring the change's impact on profitability and consumer engagement is an example of a future study topic.

Sources Cited

"Off the Wall Since 1966: A Brief History of Vans" Vans. Web.

Nike on Instagram: Themes of Branded Content and Their Engagement Power, by Carmen Balan 2017 pages 1-6, CBU International Conference on Innovations in Science and Education.

"Study on E-Commerce and Its Effects on the Market and Retailers in India," by Menal Dahiya. Advances in Computational Sciences and Technology, volume 10, issue 5, pages 1495 to 1500, 2017.

Andreas Graessler. Springer, 2019. Run IT: Dominating Information Technology.

Meshram, Jyoti. "Study of the Influence of Online Shopping on Conventional Shopping Methods Utilized by Young Adults Regarding Clothing and Accessories." Advances in Business Management Journal, volume 2, issue 3, 2016, pages 149-153.

"The Online Appeal of the Physical Shop: How a Physical Store Can Benefit from a Virtual Representation," by Anne Moes and Harry van Vliet. Heliyon, vol. 3, no. 6, 2017, e00336.

"Size of the Global Women's Footwear Market from 2018 to 2027," by Liam O'Connell. Statista. 2019. Web.

Matt Powell. "Sneakernomics: The Internet Has Permanently Transformed the Sneaker Industry; Prepare for More!" Forbes, 2014. Web.

The Effects of Internet Distribution on Brick-and-Mortar Sales, by Andrea Pozzi. The RAND Journal of Economics, volume 44, issue 3, pages 569-583, 2013.

Kate Seers, "Qualitative Systematic Reviews: Their Importance in Understanding Pain-Related Research," British Journal of Pain, volume 9, issue 1, pages 36-40, 2015.

Yan, Xaioxing. “Impact of Online Shopping on Shopping Malls.” Digital Commons at Buffalo State, Applied Economics Theses, no. 29, 2018, pp. 1-42.

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Action For Breach Of Contract And Specific Performance Get Essay Help

The incident at the World Wide Auction House is the subject of this investigation. Candie Cardigan decided to auction her garment with a giraffe print that was featured in a film shot in South Africa. Cassie Cardigan was tasked with overseeing the auction. Pearl and Jade were rival bids for the dress. Cassie smiled and nodded in approval of Pearl's final bid of $8,500 by smiling and nodding at Pearl. Pearl approached Cassie with $8,500, but Cassie refused to sell the outfit, stating that Jade had given a higher price after Pearl's bid was accepted. In truth, Jade was not responsible, and Cassie declined Candie's request to sell the clothing to Pearl. Pearl expects to sue for breach of contract as a result. Additionally, whether the breach of contract occurred and whether Pearl is eligible to seek specific performance will be considered.

The facts of the case indicate that Pearl, on the one hand, and Candie and Cassie, on the other, entered into a contract. The parties participated in an auction, a procedure that results in a legally enforceable contract once the auctioneer accepts the highest bid (Stimmel, Stimmel & Roeser, n.d.). There are three parties involved in an auction: the vendor, the auctioneer who acts as the seller's agent if he does not sell himself, and the bids. Candie is the vendor, Cassie is the auctioneer, and Jade and Pearl are the buyers in this scenario. According to Stimmel, Stimmel & Roeser (n.d.), "once a bid is accepted, neither the seller nor the buyer has the right to accept a higher bid" (para. 9).

In this instance, Cassie accepted Pearl's bid by smiling and nodding, and since no other bids were presented, a contract between Cassie and Pearl was formed. According to this agreement, Cassie was supposed to sell the outfit to Pearl, and Pearl was required to pay the agreed-upon price. The deal between Peal and the auction business also became apparent. In this instance, the auction house was the principal and Cassie was the agent. According to Miller (2015), regardless of whether the principal is disclosed or not, the principal has legal liability.

Pearl fulfilled her obligations, but Cassie breached the agreement. Pearl is therefore the plaintiff, whereas Cassie is the defendant. Since the contract has been violated, Pearl is now entitled to compensation. There are two primary forms of remedies accessible to the non-breaching party: remedies at law, which are monetary damages, and remedies in equity, which include rescission and restitution, specific performance, and reformation (Miller, 2015). In this situation, legal remedies are insufficient, thus Pearl may demand specific performance. Specific performance requires the infringing party to carry out the contract's terms, and it is provided when the products at risk are unique (Miller, 2015). The giraffe print dress, which is the subject of the contract, is a one-of-a-kind item because it was worn in a film and there is no other dress like it in the world. Consequently, monetary damages will not adequately compensate for the violation of contract. Therefore, Pearl has the right to seek specific performance as a remedy.

Mutuality of remedy is a necessary requirement for specific performance to be enforceable. It indicates that both parties should be able to attain certain performance. In auctions, both the buyer and the seller can obtain performance specifications (Stimmel, Stimmel & Roeser, n.d.). For instance, the seller may seek particular performance if the buyer fails to make timely payments (Stimmel, Stimmel & Roeser, n.d.). The buyer, on the other hand, may obtain specific performance if the seller does not accept the bid if the auction was without reserve or if the seller has no right to refuse to sell after the acceptance of the bid (Stimmel, Stimmel & Roeser, n.d.). In the reviewed case, it is unclear if the auction has a reserve or not. If the auction has a reserve and the seller wishes to retain the right to remove the goods after the winning offer has been accepted, the seller should ordinarily inform the purchasers of this condition (Miller, 2015). Due to the absence of such a notification, Cassie was compelled to sell the clothing to Pearl when her bid was accepted.

In this scenario, there are two possible defenses to breach of contract that the defendants may assert. First, Cassie may argue that particular performance can cause her significant difficulty. Cassie's second available defense is the innocent third-party purchaser. To employ this argument, Cassie must demonstrate that Jade outbid Pearl, thereby becoming the highest bidder, and selling the outfit to her. She should also argue that Jade was unaware of Candie's instructions to Cassie, which would indicate that Jade purchased the outfit on an honorable basis. If a person obtains products through an honest contract from a seller who does not have the authority to sell these things, the items cannot be reclaimed ("Good Faith," n.d.). Therefore, the clothing could not be taken from Jade, and Pearl did not receive a particular performance.

In conclusion, a contract exists between Pearl, the auction house, and Cassie because an auction results in a legally enforceable agreement. Both Cassie and the auction house entered into the contract with Pearl, Cassie as the agent and the auction house as the principal, so both should be sued. Because the thing at stake is unique and monetary damages will not suffice as compensation, Pearl is now qualified to receive particular performance. Cassie may assert as a defense that a particular performance would be extremely difficult for her.

References

Good faith (n.d.). Web.

Miller, R. L. (2015). Fundamentals of contemporary business law: Case summaries (10th ed.). Cengage Education.

Stimmel, Stimmel & Roeser (n.d.). The law governing auctions. Stimmel Law. Web.

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Global Financial Crisis On Dubai Get Essay Help

Introduction

Dubai is one of the cities in the United Arab Emirates that has gained worldwide recognition as a corporate hub in recent years, owing to its strategic position and economic growth. The municipality governs the city, however it is autonomous from the other emirate cities. The city is the second largest and one of the most populous of the seven emirate cities. Initially, Dubai's economy was dependent on the oil industry, but it has since expanded to include businesses such as tourism.

However, the city has rapidly expanded to become one of the world's major commercial hubs. It has also created and established ultra-modern images, opulent hotels, and sporting clubs where businessmen from over the world can renew their thoughts. Its strategic position has also drawn investors from all over the world, and as a result, Dubai is considered to have a massive influx of capital as investors strive to optimize returns from its strategic positioning.

The building investors from India and Pakistan extensively invested in Dubai in order to capitalize on the large number of visitors that visit the city on a regular basis. Therefore, a large number of employees from all over the world were recruited to assist the construction crews. Therefore, Dubai has operated as a key magnet that attracts individuals from various Arab and non-Arab nations for diverse commercial and touristic objectives.

The 2007-2008 economic recessions that rocked Europe, the United States, and most of the rest of the world had little real effect on Dubai's economy until late 2009. The recent financial crisis that has finally impacted the economy of the United Arab Emirates has not only led to the withdrawal of capital from the economy out of fear of loss, but it has also lowered the living standards of the people due to the rise in unemployment. In addition, foreign investors have decided to relocate their investments from Dubai's faltering economy to other countries where investment risks are significantly lower. This study intends to investigate Dubai's global financial crisis.

A concise history of the economy of the United Arab Emirates before to the financial crisis

In the recent past, Dubai displayed an exceptional entrepreneurial environment, which drew investors from all over the world. During the years 2000-2005, the city's economy grew at an annualized rate of 13%. The increased economic growth could be ascribed to the city's decision to diversify its economy away from its reliance on hydrocarbons and toward the region's thriving commerce activities.

In addition, growing real estate had a substantial impact on the economy. The rising oil markets have always provided Dubai with sufficient funds to maintain and expand its infrastructure. The continuous recognition of Dubai as one of the greatest worldwide markets contributed significantly to the region's economic growth. Therefore, an increasing number of foreign investors choose to participate in real estate constructions. The majority of the contractors originated from Asian nations like India and Pakistan. Dubai's strategic location made it a tourist magnet, necessitating the construction of luxury hotels and sports clubs.

The rapid development of Dubai's real estate led to a massive influx of individuals into the United Arab Emirates. The gradual liberalisation of property rights in Dubai was largely responsible for Dubai's real estate boom. It was also driven by the continual influx of people into the region, which increased housing demand. In 2006, the level of real estate investment reached $5.5 billion, which is still a modest amount, accounting for 3.4% of the city's GDP.

Additionally, the mortgage-to-GDP ratio was extremely low, which attracted even more investors to the area. There was ample space for growth in Dubai's economy, which drew investors from around the globe. Recent economic growth rates in Dubai have been extraordinarily high due to the city's huge economic potential and favorable conditions. As the economy continues to encourage investment in residential developments and implements a better capital structure for mortgage financing companies, similar growth trends are anticipated in the near future. In this situation, a growth rate of 9 percent is anticipated by the end of 2011.

In addition, the city anticipates a compound annual growth rate of 34% as long as favorable conditions persist in the United Arab Emirates. The property market continues to expand as the number of expats relocating to the city rises day by day, driving up housing demand. However, the economic panic of 2006 forced builders to hold down their operations out of concern of incurring losses, as the housing market was believed to have reached its peak.

The rumor did not materialize, however, as housing demand continued to climb despite the concern. Dubai faced a severe housing scarcity in 2007 and 2008 as a result of a slowdown in real estate expansion. During these eras, rental rates also increased significantly, and by 2008, it was estimated that they had reached a 60% increase. During the previous decade, Dubai maintained an average growth rate of 15%, which other Arab emirate cities were unable to achieve. Instead of taxes, the city has capitalized on service provisions such as rent and tariffs. Therefore, Dubai is recognized as one of the regions that operates as a tax-free zone.

Dubai's response to the global financial crisis

The crisis has caused a massive withdrawal of capital investment from the city's economy, resulting in a significant increase in unemployment. It is believed that more than fifty percent of all construction projects have been suspended as a result of the economic downturn. The deterioration of the city's economic conditions has had a severe influence on the expats who moved there to work in construction enterprises. As a result, their lives have become intolerable, as they can hardly meet their daily costs without a work. Foreign investors, particularly those from India and Pakistan, have withdrew considerable amounts of funds due to apprehension of loss.

The investment companies are suffering financial difficulties, and as a result, they have received financial aid from banking institutions. Therefore, investment companies have amassed a substantial amount of debt, which has had a significant impact on their financial health. Since comparable investors dominate Dubai's real estate investments, the financial issues that have plagued the Asian market have also been brought to Dubai. As the economy continues to deteriorate, hordes of professionals continue to lose their employment since their employers cannot support them.

Due to the escalating financial problems, the prices of real estate properties have continued to decline, resulting in massive losses for real estate investors. Currently, the price has decreased by nearly 50 percent and is projected to plummet further if no action is taken. As Dubai has already switched its economy from oil to real estate and tourism, the real estate impact has had a significant negative effect on the city's economy.

Additionally, huge investments were made in the real estate and tourism industries as a result of diversification, leaving the economy vulnerable to financial concerns. It is also anticipated that the situation would continue to deteriorate as Dubai attempts to fix and reverse the six-year real estate boom it experienced. The current real estate downturn is also likely to interrupt the majority of active development projects in cities.

The majority of foreign investors are anticipated to exit the region, resulting in a dramatic decrease in demand for real estate. As a result, property values could decline by as much as 75 percent by the end of 2010.

Since March 2010, there has been a continuing decline in share prices in the city, a condition that has continued to cause alarm among capital investors (Dawawala, 2009, p. 15). A heightened debt issue has also had a significant impact on the city's domestic and foreign investors. The combination of a considerable decline in real estate values, a worsening debt problem, and falling stock prices threatens to threaten the city's economy. As the real estate business was a significant contributor to the city's economic growth, the situation is projected to worsen.

The prevalent policies in Dubai and the effect they have had on the current global economic crisis.

The form of the constitution of the United Arab Emirates expressly permitted Dubai to operate as an autonomous city. This action allowed Dubai to govern and coordinate its economic growth independently from neighboring cities. Due to this, Dubai has had substantial economic expansion, particularly since the 1980s. To enhance and stimulate the city's economic growth, Dubai sought to implement flexible fiscal policies.

These regulations allowed Dubai to finance the majority of government-owned projects through internal and external capital sources. As a result, the economy became deeply indebted, a condition that came to affect the majority of operations after 2008. Individual projects have also been hampered by the debts. Therefore, the policies permitted viable evaluations of market conditions.

Additionally, the government enacted policies that permitted foreign freehold ownership in the region. This action was intended to attract foreign investment to the region. The policy also significantly helped to the expansion of real estate investment projects in the city. To optimize their gains, numerous foreign investors have chosen to invest in the building of luxurious hotels and recreational facilities. Foreign ownership of freehold property has significantly turned the city into a contemporary business and tourist hub.

In addition to considerably reducing entry hurdles for expatriates, Dubai has drawn people from throughout the world. The provision of a free economic zone in Dubai has also contributed to the recent expansion (International monetary fund, 2009, p. 44).

Nonetheless, the economic policies, which were intended to ensure ongoing prosperity, have in some ways failed. It is considered that the absence of a well-regulated and coordinated economy has contributed to an overheated economy that is susceptible to recession and other financial crises. For instance, the money withdrawal by foreign investors has nearly halted the city's economic operations, which may have been avoided if regulated beforehand. The establishment of a tax-free zone in Dubai has considerably increased the number of investors in the region, but the government has continued to earn and profit from services rather than taxes.

Despite the fact that this policy has helped the city create a favorable climate for investors, it has continued to restrict government revenue from investor operations. Due to the region's lack of economic obstacles, there was a substantial influx of capital into the emirate of Dubai. Consequently, additional money was injected into the economy, causing inflation. As a result, prices for products and services have increased significantly, making life tough for locals.

As a result of the growing debt in the region, builders have fled, resulting in a significant spike in property and house prices. Therefore, the housing supply is relatively low in comparison to the daily rising housing demand.

Both domestic and foreign investors were encouraged by the government's economic diversification initiative to invest extensively in real estate, which is the primary cause of Dubai's economic downturn. The faster rate of real estate investment has made Dubai's economy more vulnerable. Given that investors have elected to invest heavily in real estate, price declines have a significant influence on the city's economy as a whole. It is therefore accurate to state that Dubai's financial crisis was caused by a lack of appropriate economic policies.

Dubai is affected by the global financial crisis and domestic regulations.

The worldwide financial crisis resulted in a huge decline in the price of oil, which therefore had a devastating effect on Dubai's economy. In 2008, the continuous decrease in oil prices made it difficult for the city to collect sufficient funds to cover the infrastructure expenditures it had already undertaken. The price decline also affected the cash situation of the city, causing investors and the emirate administration to seek foreign assistance. There was also a great deal of bank lending, a condition that led to interbank lending.

Local banks also had similar financial issues, since the level of borrowing exceeded the level of savings by a fairly significant percentage. Due to the market's financial difficulties, the number of defaulters increased significantly. The majority of debtors continue to negotiate with banks to extend the payback period in order to fulfill their financial commitments. As the majority of visitors to Dubai have turned out to be tourists rather than buyers, buying and selling operations have also slowed dramatically. There are far fewer real estate developments now being developed.

This is a significant indicator that investors are still uneasy with the city's existing conditions. In the recent past, continued capital repatriation has been noticed as speculators relocate the majority of their investment intentions away from the city. The actual

The global financial crisis has produced a substantial decline in real estate prices, which has resulted in substantial losses for investors. As it becomes increasingly difficult for them to operate, estate builders have been compelled to slow down, with some even leaving the city. In addition to preventing investors from engaging in construction projects, the ongoing drop in real estate values has also hindered investors from investing in such endeavors. Due to this, the availability of houses and other residential estates has remained low.

The rising demand for estate homes has consequently caused a significant increase in the rent and prices of existing estates in Dubai. As a result, a large number of semi-skilled and unskilled expats in the country have lost their jobs as the building industry slows down. As a result of the financial crisis, both foreign and domestic tourists are affected by the rising cost of lodging.

The internal policies that enabled the administration to obtain financial aid from outside have caused a massive debt crisis in the city. Although the move was intended to ensure that the majority of state-owned projects continue, the overall effect has been detrimental to the city's economy.

Dubai's measures to alleviate the impact of the global financial crisis

The government-owned conglomerate of Dubai has negotiated a six-month debt moratorium with its creditors, a move that is anticipated to reduce the amount spent on debt servicing. The repayment halt is also anticipated to aid the administration in addressing other difficult concerns, such as the food and housing crises that have recently struck the city. The government has initiated a reduction in interest rates, a move that aims to attract more investors to the economy. To facilitate business transactions in the city, the administration has developed a new electronic money system that aims to simplify the

Automobiles Markets Problems Over The Last Two Years Get Essay Help

Table of Contents
Forewords Automobile Industry Realities Difficulties confronting the automobile markets Globalization a growing demand to differentiate products Complex vehicles development processes 2008-2009 car crisis Conclusion Bibliography

Forewords

The automobile business is one of the industries that has undergone an unprecedented transformation during the past few years. The industry has vastly expanded in size and vitality throughout the years, resulting in the tremendously massive and fiercely competitive industry that exists today. From the time that Henry Ford (the founder of present-day strong house in the automobile industry (Ford) created his debut car model, which was later perfected by Alfred Sloan, the vehicle industry or more specifically the automobile industry has undergone an astounding eight decades of unprecedented growth in size and competitiveness, characterized by innovation, marketing, and war of competitive strategy. Ideally, many vehicle businesses that have emerged since then compete for market dominance and leadership. Being in the growth phase of the market cycle, the automobile industry continues to experience tremendous transformation, characterised by rapid growth and market expansion, to the present day (Marie, 2008: Para 3). According to the latter, the industry's competition and transition are not solely determined by the company's usual operations, but also by how industry participants seek to differentiate themselves for competitive advantage.

During the last eighty years of the automobile industry's shift, survivability, market leadership dominance, and competitive advantage have been primarily determined by first mover advantage and immensity in capital and plants, economies of scale, and market share dominance. In the past decade, however, the increasing competitiveness, which is escalating daily due to the effects of globalization, has prompted a shift in competitive strategy, resulting in a high level of research and development, inventiveness and innovation, and differentiation in the manufacturing and marketing of cars. Additionally, top competitors have merged and formed joint ventures to achieve monopoly power in the automotive marketplaces (Automotive news, 2007: Para 4). In fact, the mergers have reduced the number of vehicle companies on the US market from a peak of 27 in the early 1990s to approximately six main players at now.

As a result, the global automobile business is distinguished by unparalleled customer value in terms of car quality, styles, and differentiation, which is driven by the ever-increasing competition, which continues to grow gradually more intense every day (Marie, 2008: Para 4). Consequently, the automobile industry is characterized by products that are significantly more superior in quality and dependability than the vehicles produced by the same industry only a few years ago, particularly in terms of their fuel efficiency, user safety, enhanced functionality, and performance ratings (McParland, 2008 Para 6). In light of the fact that the industry has been undergoing this transition and steady improvement in customer value delivery in terms of continuous improvement via the value chain over the past few years, it would appear that the future of the industry depends on how well the players in the vehicle manufacturing and marketing are able to manage the challenges that threaten to impede their ability to continue with the value chain addition that is crucial for their survival and continued existence. This paper therefore provides a comprehensive analysis of the current and potential challenges facing the automobile markets, their impact on the present and future of the industry, and the countermeasures that have been or can be implemented to ensure a prosperous future for the industry as a whole.

The automobile industry in numbers

In general, the automobile business is involved in the design, development, processing, marketing, and virtual sale of motor vehicles and automobiles in all global markets. By the end of last year, the sector had produced and shipped nearly a billion automobiles to global markets (2008). The worldwide automobile industry produced well over seventy million cars and commercial vehicles in fiscal year 2008, according to published statistics (Little, 2009). Although this represented a slight decrease in productivity of the industry, in fact by 1.9 million motor vehicles compared to the number of motor vehicles that the global automobile industry released to the world markets in 2007 (possibly as a result of the 2007-2008 automobile industry crisis and the global economic downturn) (Marie, 2008), statistics revealed that the industry had grown in size and productivity significantly over the years. Therefore, according to the research, the global automobile sector sold around 71,9 new motor vehicles on global marketplaces in 2007. Europe was the largest market for automobiles in 2007, accounting for 31.7% of the sales, followed by the Asian region with 29.8% of the sales, the United States and Canada with 26.98%, Latin America with 0.06%, the Middle East with 0.03%, and Africa with a meager 0.019%. Among the major markets for motor vehicles, Russia, Brazil, India, and China demonstrated tremendous development in car markets in 2007 compared to the previous years, although the markets for automobiles in Latin America and Japan remained relatively stagnant and grew just modestly. Similarly, all empirical surveys on the automobile industry indicate that the demand for automobiles continues to rise in many regions of the globe, implying that the vehicle markets continue to expand. According to Anonymous (2009) -The worldwide auto industry-business exchange-, close to a quarter billion automobiles were already in use in the United States of America in 2008, compared to 217 million vehicles claimed to be in use in the US as of 2007. Similarly, the number of vehicles estimated to be in use worldwide in 2008, including cars and light trucks, was close to one billion, marking a 12.7% rise from 806 million in 2007; the latter were estimated to consume more than 250 billion gallons of gasoline and diesel fuel yearly.

Ford Honda, Nissan, BMW, Volvo, Fiat Volkswagen PSA Renault, Toyota DCX, and General Motors are currently the leading participants and competitors in the worldwide automotive business. According to a Morgan Stanley survey (2008) that sought to determine the respective market share, General Motors led the pack with 15.2% of the global automobile market, followed by Ford with 13.7%, DCX with 10.1%, Volkswagen with 9.8%, Toyota with 9.1%, fiat with 5.2%, Nissan and Honda with 5.1%, PSA with 4.1%, Renault with 4%, BMW with 2.3%, and Volvo in last place with 1.5%. However, even companies who were once viewed as minnows in the sector have recently emerged aggressively and competitively to make their imprint in the industry, disproving the theory of strongholds and contributing to the intensification of competition in the industry. As a result, the industry is currently characterized by an unprecedented battle of strategy, innovation, and research and development, which is greatly supported by the advancing technology and its application in automobile manufacturing for maximum efficiency and effectiveness in delivering customer value (Marie, 2008: Para 5).

Table displaying the market share of automobile manufacturers in worldwide vehicle markets

Company share of the global market

General Motors ranked 15.2

Ford 13.7

DCX 10.1

Volkswagen 9.8

Toyota 9.1

Fiat 5.2

Nissan 5.1

Honda 5.1

PSA 4.1

Renault 4.0

BMW 2.3

Volvo 1.5

Morgan Stanley is the cited reference 2008 Dean Witter and BoozAllen & Hamilton analysis

Difficulties confronting the automobile markets

Regardless of the current status of the automobile industry, which includes the transformation, increasing consumer value delivery, advancing technology, and expanding vehicle markets, the present and future of the industry face numerous problems and challenges that require immediate attention to ensure a prosperous future. Principally, the issues stem from the dynamic of the PESTEL and external environment, as well as the ever-changing preferences and expectations of consumers in terms of the overall value given (Marie, 2008: Para 7). While presenting the challenges facing the automobile markets, this paper refrains from drawing conclusions about the future of the automobile industry. Instead, it seeks solutions and measures that can be implemented to offset the challenges or mitigate the negative impact that such problems may have on the industry as a whole in the present or future. The effects of the 2008-2009 automobile industry crisis, the global economic recession and its subsequent effects on the industry, the effects of globalization and market liberalization, the ever-increasing need for product differentiation, complex vehicles development processes, the supply chain restructuring, and the marketing and distribution challenges are among the industry's most significant obstacles.

Globalization

In fact, eighteen of the twenty largest automotive manufacturers have their origins and primary operations in North America, western Europe, and Japan, and these regions supply close to 90 percent of the worldwide automobile output to the global vehicle markets. Idealistically, these locations are either in or close to the maturity stage, leaving little potential for future expansion in demand for autos and markets. As a result, participants have shifted their attention to growing and untapped markets in quest of optimal growth opportunities. In reality, certain regions, such as Japan, have reported negative growth in automobile market growth in recent years, pushing Japanese companies like Toyota to seek diversification in other markets to ensure the company's future (Marie, 2008: Para 8).

As a result of the current globalization and liberalization, the participants from North America, Europe, and Japan have diversified their operations in terms of automobile production and marketing to emerging markets, especially in Latin America, North and South Asia, China, India, and Eastern Europe and Russia. In the majority of these markets, vehicle markets are expected to develop at a rate that is twice that of the typical industry, particularly over the next decade. The haste with which corporations are establishing motor vehicle manufacturing industries, aided by globalization, is expected to jeopardize the first-mover advantages of local auto-firms and existing auto-firms in these regions. Inflicting a further blow on the companies' already meager returns, this substantially threatens their survival, especially if the trickling in companies are highly competitive. Regardless of the risk presented by clogging in ostensibly unexploited areas, the majority of vehicle companies are eager to enter and claim a portion of the market, despite the fact that doing so could result in lower profitability or even failure to survive in the worst-case scenario (Marie, 2008: Para 8).

Globalization's economics and the difficulties it produces logically pose a threat to both the current and future of the automotive sector. In addition, the repercussions of globalization are costly, especially in regards to modifying the value chain to meet market demands, which is essential for the survival of a company or its subsidiaries on the global market (Birch, 2009:10). As a result, when vehicle firms strive for market share and dominance on the international stage, they must sacrifice profitability and overextend their production capacity. In addition, the competition between the international automobile industries and the local ones, the conflicts between international business laws and local laws, and the economic bailouts necessitated by the ensuing financial crises, particularly among the local fire, significantly disrupt the autonomy of the vehicle markets. These issues frequently lead to low profitability and, on occasion, losses in the business, resulting in an inadequate reorganization of the industry, which can be especially tough for industry participants and policymakers (Marie, 2008: Para 9).

a growing demand to differentiate products

The transformation in the vehicle business, especially over the past decade, has resulted in unparalleled competitiveness, which continues to increase in the present day. Similarly, automotive purchasers are growing increasingly savvy. As more and more automotive companies join the market with the promise of giving excellent value in vehicles and other automobiles, the bargaining power of customers/buyers is rapidly expanding (Marie, 2008: Para 8). As a result, the automobile industry is currently swamped with a large number of automobile goods that demonstrate a high degree of functional and performance uniformity. In order to create a point of differentiation, maximize the company's car demand market share, and meet consumers' ever-changing tastes and preferences while maximizing organizational capacity, the vehicle marketing environment has required a great deal of product differentiation as a basic competitive tool.

In general, an organization's survival hinges on its ability to meet market demands for its products at any given time; failure to do so would have catastrophic consequences for the business. Effective product differentiation results from a thorough comprehension of the customer's needs and desires, which is a tough endeavor. However, in the automobile sector, marketers approach product distinction from two angles. The first perspective proposes a method in which the corporation conducts market research, consumer clinics, and consumer data collection to discover the customer's demands with the belief that this can provide a sufficient basis for distinction, i.e. the left hand approach. On the other hand, the right hand strategy, which is more spontaneous, relies on the marketers' discretion to come up with an extraordinary combination of functionality and emotional appeal to customers, with the goal of generating additional demand for the automobiles and so increasing sales. The essential premise of this sort of differentiation is to make the product more exceptional and appealing, while simultaneously lowering market rejection. Differentiation, in contrast to standardization, is exceedingly expensive, incurring additional costs in terms of money and time because it also makes the automobile production process more time-consuming and complicated (Marie, 2008: Para 8). Moreover, regardless of the form differentiation takes, the corporation must strike a balance between differentiating its vehicle products and maintaining its identity, both of which can have serious consequences for the company if not properly managed.

Complex vehicles development processes

Ideally, cars are items that are often expensive and dangerous to manufacture, both financially and in terms of time. In addition, the business is suffering rising production and marketing expenses due to the dynamics of

Amazon’s Customer Service Manager Recruiting And Selection Plan Get Essay Help

Table of Contents
Introduction to the Legal Environment Recruitment Plan Selection Plan References

Introduction

The case study examines Amazon's workforce expansion plans, detailing the company's need to acquire thousands of more employees to accommodate its expanding operations. Amazon places a premium on customer service; hence, the Customer Service Manager position is crucial. Given the scope of Amazon's activities, at least 10 customer service managers are necessary to meet the requirements of the Customer Service department. The precise recruitment and selection procedures can assist the organization hire the most qualified candidates for this role, ensuring that they will contribute to the level of service supplied to customers.

Legal Landscape

First, it is vital to recognize that hiring in the United States is governed by a variety of laws and standards. To comply with the Equal Opportunity Policy, the employer must guarantee that the recruitment process is free of bias based on race, gender, religion, ability level, and age (“Legal aspect of recruitment,” 2020). In addition, the National Labor Relations Act protects employee rights from recruiting to contract termination (“Legal aspect of recruitment,” 2020). In addition, anti-discrimination and labor rules in the United States ban the use of specific questions during interviews. Therefore, the selection process should center on the candidate's competence to perform the duties of the position (“Legal aspect of recruitment,” 2020). Taking into account these legal requirements permits the development of recruitment and selection plans that are compliant with legislation and do not pose any legal problems.

Recruitment Plan

Recruitment is the process of attracting applicants for a post. Recruitment is described as the process of providing a business with a pool of qualified job candidates from which to select (University of Minnesota, 2016a, para. 1). Recruitment is essential to the organization since it lays the groundwork for effective hiring. If the organization does not have access to qualified individuals, it will be compelled to recruit an unqualified individual or keep the post unfilled, both of which can be detrimental to its performance.

Online job boards and the organization's website should be the primary recruitment tools. On the one hand, online job websites are currently extremely popular, and the majority of applicants begin their search there, which means that a greater number of candidates can be attracted. On the other side, the company's website will attract those who are interested in Amazon and have prior client experience. Additionally, the firm must have a well-defined job description and ideal candidate profile in order to maximize the likelihood of recruiting qualified individuals. The comprehensive recruitment strategy is as follows:

Create a job description based on the functions to be performed and the actions of current employees; Create a profile of the ideal candidate for the position in order to identify desirable attributes and skills; Create Customer Service Manager job ads on job aggregators (e.g., Indeed) and Amazon's Careers website.

Selection Scheme

The process of staffing entails picking the most qualified candidate for a position from a pool of identified individuals. This approach is essential to success because it helps match the individual's experience, knowledge, and skills to the job's requirements (University of Minnesota, 2016b). If the individual selected for a position is unable to perform their obligations adequately, the company's performance will suffer.

There are numerous strategies that can be utilized as selection tools to filter applications. Because these talents are required for the role of Customer Service Manager, assessments assessing communication, leadership, problem-solving, and customer service skills will be necessary. Additionally, interviews should be utilized to learn more about candidates' skills. Traditional face-to-face interviews would be ideal because they provide for a deeper understanding of the candidate and ensure a good fit between the candidate and the organization. Included in job-specific interview questions should be:

What is your customer service experience? How do you intend to handle client complaints? How have you previously handled customer complaints? How can staff be motivated to give the finest customer service? What contributions can you make to Amazon as the Customer Service Manager?

The following is the plan for picking the best candidates:

Develop instruments for evaluating the ability of candidates; Contact prospects and invite them to participate in the evaluation; After the evaluation period (one to two weeks) has concluded, invite the top 10 percent of candidates for interviews. Interview candidates and make final hiring decisions.

Conclusion

Overall, the position of Customer Service Manager requires people to possess a variety of abilities and past customer service expertise. In addition, the recruiting process in the United States is influenced by a variety of factors that determine recruitment and staffing. The proposed recruitment and selection tools will assist Amazon in attracting the most qualified applicants and ensuring that they possess the necessary skills, abilities, and experience to perform their future responsibilities with distinction and contribute to the company's service quality. Consequently, the recruitment and selection plans will aid Amazon in hiring exceptionally qualified candidates for the role, thereby boosting the company's expansion efforts and future success.

References

The legal aspects of employment and recruitment (2020). Web.

4.1 The recruitment procedure, University of Minnesota. (2016a). UMN Libraries. Web.

5.1 The selection procedure, University of Minnesota, 2016b. UMN Libraries. Web.

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Samsung Group’s Entry Modes Into Global Market Get Essay Help

Introduction

This article emphasizes the significance of connecting business objectives with market dynamics in international trade. The document consists of two sections. The first section provides a concise overview of four sorts of corporations that seek to develop their company by entering international markets. Samsung is chosen as a case study for the second section of this article, which assesses and suggests three foreign market entry tactics for low, moderate, and high income markets. The final section of the study provides a summary of the key findings.

Market Analysis

A Specialty European or American Luxury Automobile Manufacturing Company – BMW

An oversaturated domestic market Provide better protection against the economic hazards of operating in a single market. It may be less expensive to manufacture automobiles in a foreign country. Take advantage of scale economies

Burberry is a small or medium-sized European prestige fashion design house and retailer.

Access to fresh reservoirs of talent (leveraging expertise of local designers) Provide protection against the economic hazards of operating in a single market. Manage rivalry because rivals are already present in international markets. Possibility of tapping into additional revenue sources

Samsung is a Japanese or South Korean electrical appliance and consumer electronics manufacturer.

Increasing distribution efficiencies through establishing efficient global systems Provide better protection against the economic hazards of operating in a single market. Create new business relationships through horizontal or vertical integration Internationalization may result in tax savings.

A Major Manufacturer of Toiletries and Personal Care Products in the United States: Johnson & Johnson

Develop strength and resource synergies, hence increasing the value of the worldwide expansion. Provide better protection against the economic hazards of operating in a single market. Global cultural homogenization makes it easier for the corporation to sell its products across international borders.

Methods of Access

How effectively business processes connect with manufacturing and distribution strategies determines whether modes of entry are optimal for a certain company (Yu & Lindsay 2017; Ye et al. 2018). This portion of the report presents three ways Samsung might employ to enter low-income, middle-income, and high-income overseas markets with differing infrastructure development and governance systems.

Emerging Nation with Low Income per Person

In a country with a low per capita income and some degree of political instability, an export strategy is likely to be Samsung's best option, as the market may lack the capability to support the mobile phone company's activities if it were to establish a factory there (Castillo & De Vries 2018). In addition, political instability may interfere with the operations of the Korean company if it builds a plant in the selected nation. The export strategy is ideal since shipping consumer electronics is easier and less expensive than manufacturing them in the target market (Snihur & Tarzijan 2018). Additionally, the export plan would better safeguard the company's trademark on the foreign market because counterfeiting and imitation of electrical items is prevalent (Shen, Puig & Paul 2017; Castillo & De Vries 2018). Therefore, this market entry strategy would provide Samsung greater control over its international market activities than other market entry strategies (Redding, Xie & Tang 2018).

Lastly, implementing a direct export plan in the selected countries would enable Samsung to better adjust its business strategy to the market needs of the host country without having to alter its manufacturing approach (Miocevic & Morgan 2018). For instance, it may simply stop shipping products that are not well received on the market and replace them with products that are well received or have a better profit margin on the market (Shen, Puig & Paul 2017; Castillo & De Vries 2018). This flexibility is afforded by an export strategy because other foreign market entry tactics that involve substantial capital investments may not be able to accommodate the same agility without substantial financial repercussions for the organization (Brueller, Carmeli & Markman 2018). Therefore, the optimal strategy for Samsung in an emerging economy with a low per capita income should be an export-oriented approach. However, as the succeeding sections explain, the same method would not work in a country with a middle-income level.

A Market with a Moderate Per Capita Income, Income Inequality, and Developing Infrastructure.

Before entering a large, late-stage emerging market with a strong (but declining) growth rate, a huge population, a medium per capita income, unequal levels of income, and a less established (but improving) infrastructure, Samsung should evaluate its exposure to various risks. A joint venture is the optimal market entry approach in such an environment. This plan is suitable for the organization because it is synonymous with quick expansion and enhanced efficiency (Xia et al. 2018). According to Booltink and Saka-Helmhout, the joint venture should be undertaken with another company that has a comparable degree of skill in technical development or expansion (2018). Primarily, the firm should combine its resources and experience with those of the host company in order to capitalize on industry-specific market opportunities (Shen, Puig & Paul 2017; Castillo & De Vries 2018).

The joint venture strategy has been selected for this market due to the high level of risk involved in a country with a developing infrastructure network and income disparities. The action plan will enable Samsung to share this risk with its partners (Sinha & Sheth 2018). In addition, the proposed action allows it to invest some resources in the international expansion strategy because it will have some shares in the joint venture plan, unlike the previously identified export strategy, which may not require the electronics company to invest a significant amount of capital (Lemessa, Watabaji & Yismaw 2018). Having "skin in the game" for a later-stage emerging nation will provide Samsung with the possibility to profit from the successful implementation of the endeavor (Park et al. 2018). Positive success prospects rest on the fact that the emerging nation is still expanding, has a moderate per capita income, and presumably a thriving middle class that will drive the company's next phase of expansion.

The joint venture model would grant Samsung access to an established distribution network, which is a big advantage (Patel, Criaco & Naldi 2018). This operational characteristic is crucial to the success of the Korean firm because the targeted market is a huge country, and a sophisticated or well-established distribution network would ensure that the company's products reach all sections of the market. Comparatively, developing a new distribution network for Samsung (exclusively) could be costly for the firm and result in a large decline in profitability. The joint venture protects the company from such a result (Di Comite, Nocco & Orefice 2018). In addition, it gives Samsung with the market insights required to formulate a sales strategy.

The joint venture partner would also provide Samsung with information concerning the most effective pricing tactics, geographical requirements, legal provisions, and customer preferences. This information would be crucial in ensuring that the company formulates an effective marketing plan that advances key research and development milestones or gains (Heard, Menezes & Rambaldi 2018). Therefore, the joint venture model is suitable for a market with a moderate per capita income and an infrastructure that is still expanding. However, the same method would not be entirely advantageous for Samsung in a more developed market with a high income level, a well-established infrastructure, and efficient administrative procedures. The most effective market entry technique for such a market is outlined below.

Mature Markets

A mature, large, high-income, developed nation with a slowly expanding or stable GDP per capita, well-established infrastructure, political stability, and effective administrative procedures presents Samsung with a different set of environmental dynamics. The optimal course of action would be to implement a market entry strategy that enables the electronics company to exert maximum control over its business. In accordance with this idea, an acquisition approach is the optimal market entry plan since Samsung would be able to exercise the necessary control over its foreign market endeavor (Surdu, Mellahi & Glaister 2018). Although this strategy is frequently complex (it may require regulatory permission and is generally expensive), it offers the greatest potential for above-average returns (Lemessa, Watabaji & Yismaw 2018).

Due to the presence of high income, a well-developed infrastructure network, and political stability, the external environment of the organization is less susceptible to operational hazards that could negatively impact its performance. Significantly greater profit potential exists in such a market, presuming the company can adopt the most effective competitive strategy (Kim, Lee & Stoel 2017). Therefore, a partnership or collaboration with another company is unnecessary to gain the benefits of such an enterprise. In this situation, establishing a wholly-owned subsidiary through a purchase is the optimal strategy because it allows Samsung to control its operations (Buckley 2018). The South Korean corporation would be completely responsible for its decisions, earnings, and losses in this scenario. The presence of effective and mature administrative processes in the host nation would also ensure that the company's activities are largely unaffected by unforeseen circumstances. A stagnant or sluggish GDP would be the greatest obstacle to the implementation of this market entry approach, but because Samsung would be in a position to make independent decisions, it can change its business plan to meet this variable (Florio, Ferraris & Vandone 2018). The adoption of an acquisition strategy is chosen expressly for the target market since it provides Samsung with the independence required to explore market opportunities in the new country.

Conclusion

This study demonstrates that the implementation of foreign market entry strategies necessitates a thorough comprehension of the political, economic, and social variables influencing the target markets. The second section of this article demonstrated that Samsung might employ three distinct foreign market entry methods as it seeks to seize market possibilities in three sorts of countries. The first strategy is export-oriented and is tailored to a market with low income, political instability, and relatively poor infrastructure. This strategy's justification depends on its capacity to offer Samsung with the flexibility required to adapt to market changes. Comparatively, the joint venture model has been chosen for a market with a moderate per capita income, unequal earnings, and a developing infrastructure. Justification for suggesting this type of market entry strategy rests on its performance in growth- and failure-promising markets with nearly equal probabilities. In other words, the plan of action allows for the maximization of revenues and the distribution of operation risks.

The final strategy proposed in this study is predicated on an acquisition model and is anticipated to succeed in markets with a high income, efficient governance frameworks, and a sophisticated infrastructure. This market entrance technique was chosen due of its capacity to grant Samsung complete control over the business. Despite the fact that the three strategies discussed in this analysis demonstrate how the South Korean behemoth could exploit growth opportunities in various types of markets, the success of their adoption is largely contingent on the proper understanding of business dynamics discussed in the report's introduction. Therefore, aligning business objectives and market realities is essential for achieving the optimum internationalization outcomes.

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Internalisation theory and outward direct investment by developing market multinationals. Management International Review, volume 58, number 2, pages 195-224, 2018.

Castillo, J., and G. De Vries. 2018. "The domestic content of Mexico's maquiladora exports: a long-run perspective." The Journal of International Trade & Economic Development.

Review of World Economics, vol. 154, no. 1, pp. 75-115, 2018, "Trade liberalization and the wage gap: the role of vertical linkages and fixed costs."

Florio, M., Ferraris, M., and Vandone, D. (2018). Motives of mergers and acquisitions by state-owned firms.

Heard, C., F. Menezes, and A. Rambaldi, "The dynamics of bank location decisions in Australia," in Australian Journal of Management, vol. 43, no. 2, pages 241-262, 2018.

Kim, P., Lee, J., and Stoel, L. (2017). Global retailers and logistics: thinking locally and responding globally.

Lemessa, S., Watabaji, M., and Yismaw, M. (2018). The analysis of entry of Ethiopian firms into export markets and the associated determinants. Journal of Small Business and Enterprise Development, vol. 25, no. 2, pp. 241-255.

Operational competencies and entrepreneurial potential in emerging market enterprises. International Marketing Review, vol. 35, no. 2, pp. 320-341, 2018.

Park, N., Martin, X., Lee, J., & Mezias, J. (2018). Effects of functional concentration on constrained momentum: evaluating firm- and industry-level partnerships.

Geographic diversity and the survival of born-globals. Journal of Management, volume 44, number 5, pages 2008-2036, 2018.

Institutionalization to internationalization. The International Journal of Public Sector Management, volume 31, number 2, pages 241-264, 2018.

Foreign market entry mode research: a review and research agenda, The International Trade Journal, vol. 31, no. 5, pages 429-456, 2017.

Sinha, M., and J. Sheth. 2018. "Growing the pie in emerging markets: marketing strategies for increasing the ratio of non-users to users." Journal of Business Research, vol. 86, no.

Y. Snihur and J. Tarzijan, "Managing complexity in a multi-business-model organization," Long Range Planning, vol. 51, no. 1 (January 2018), pp. 50-84.

Emerging market multinationals' international equity-based entry mode strategies, International Marketing Review, vol. 35, no. 2, pp. 342-359, 2018. Surdu, I., K. Mellahi, and K. Glaister.

Xia, J., Wang, Y., Lin, Y., Yang, H., and Li, S. (2018). Alliance building in the midst of market and network: insights from resource dependence and network perspectives.

Ye, M., W. Lu, R. Flanagan, and K. Ye, "Diversification in the international construction industry," Construction Management and Economics, vol. 36, no. 6, pp. 348-361, 2018.

Yu, Y & Lindsay, V 2017, ‘A social-psychological perspective of host country societal acceptance of foreign firms’, Critical Perspectives on International Business, vol. 13, no. 4, pp. 297-318.

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Government Reporting: Comprehensive Annual Financial Report Briefing Get Essay Help

Table of Contents
Introduction Management of the reporting entity's Discussion and Analysis (MD & A) Governmental Accounting versus Accounting for Profit Bibliography

Introduction

The Comprehensive Annual Financial Report is used for government reporting (CAFR). According to Ruppel (2011), the CAFR consists of three major sections: an introduction, a financial portion, and a statistical section. ” In a similar vein, Delaney (2009) explains that "the introductory section should include a transmittal letter, an organization chart, and a list of key officials, whereas the financial section should include a report from the editor and other pertinent information." "The statistical section should include changes in net assets, net assets by component, economic statistics, debt capacity, demographic and revenue capacity," argues Delaney (2009).

Reporting Agency

According to GASB, reporting entities include all relevant agencies, boards, and commissions, as noted by Delaney (2009). The GASB defines a primary government as either a state government, a special purpose local government, or a general-purpose local government, according to Ruppel (2011). Ruppel (2011) observes that the GASB defines a primary government as either a state government, a local government with a specific purpose, or a local government with a broad purpose. ”

According to Ruppel (2011), special-purpose governments include organizations engaged in government-related activities, organizations engaged in fiduciary activities, organizations engaged in business-related activities, and organizations engaged in a combination of government and business-related activities.

Among the special governments listed by Delaney (2009) are school districts, sanitation districts, and tollway authorities.

It is essential to remember that the special governments make unique declarations. First, according to Delaney (2009), special purpose governments that exclusively engage in one sort of business activity or fiduciary activity are not required to make government-wide declarations, but just statements of the fiduciary or proprietary fund. ” Secondly, Delaney argues that “special purpose governments engaged in business-type and government-type activities, as well as those engaged in a single government function, may combine both the government-wide and financial statements. Ruppell (2011) adds, “other non-profit government organizations, such as public colleges and universities, are permitted to report either as special-purpose governments engaged only in government operations or as hybrid governments engaged in both government and business. ” Despite all this, all these governments are expected to meet a specific condition. All governments must provide the Required Supplemental Information (RDI) and the Management Discussion and Analysis (MD & A), according to Delaney (2009).

According to Delaney (2009), "there exists a unit called component unit that functions as a separate organization and to which the key primary government officials are answerable."

According to Engstrom and Copler (2001), it is typical for component units to be reported in a distinct column in government-wide financial statements or in the right-hand column of information that includes the major government.

”, notes Delaney (2009), “components whose operations closely resemble those of the primary government may have their figures blended with those of the primary government.

” In other words, a reporting entity can include the central government and its components (Ruppel, 2011). As noted by Delaney (2009), a similar organization and a fund-raising foundation must be recorded as a component unit of the concerned government in order to identify those organizations that may be considered component units.

Analysis and Discussion by Management (MD & A)

According to Delaney (2009), the Management's Discussion and Analysis (MD & A) is a summary of a government's financial activity in plain English. According to Ruppel (2011), "the MD & A attempts to make an in-depth comparison between the previous year's report and the current report, with a heavy emphasis on the previous year's report." The MD & A procedure entails multiple processes.

Initially, Delaney (2009) states that there would be a concise examination of the financial statements.

The current year's financial statements will be compared to those of the prior year. Second, according to Delaney (2009), information from government-wide and individual fund statements will be discussed. This will be done with the type of government that produced the claims in mind. In addition, Delaney (2009) states, “the original budget set for the year will be compared to the present results, and an analysis will be performed. This will provide information on whether the obtained findings matched the expected outcomes. In addition, according to Delaney (2009), "there will be a description of long-term debt and capital assets, as well as a discussion by governments that use the modified approach in reporting infrastructure assets in relation to capital assets and changes from the prior year." This is a crucial aspect of the study that is extensively explored. Lastly, according to Delaney (2009), "any known facts, decisions, or conditions that would have a significant impact on the government's financial position or operating results are described." This is done in order to provide strategies for the government to improve its financial situation.

Governmental Accounting versus Accounting for Profit

Typically, government enterprises and organizations are nonprofits. According to Fischer (2008), a government acquires assets through tax revenue and creditor finance. Fischer (2008) also adds that "these assets are typically utilized in the production of goods and services distributed to those legally entitled to receive them." In these processes, the objective is not to generate money for the government, but rather to better the lives of the citizens. According to Fischer (2008), "surplus resources at the end of a fiscal period merely reduce the need for revenue in the next period, and the statement of revenues summarizes the results of an operation for an accounting period."

Furthermore, Fischer (2008) adds that "the expenditures are typically unrelated to the amount of taxes paid by individuals." This is the situation, for instance, when a youngster is taken to the hospital and treated for free. Even though this youngster cannot pay taxes, he or she nevertheless obtains the necessary health care. According to Fischer (2008), "the government legally raises revenue, and these revenues act as increases to financial resources that flow from entities outside the government, whereas expenditures follow from budget appropriations and are decreases in financial resources that flow to entities outside the government."

On the other hand, for-profit organizations exist solely for the purpose of generating profits. According to Fischer (2008), "assets of a business enterprise are contributed voluntarily by proprietors, stockholders, bondholders, and other creditors as sales generate income for the organization." According to Delaney (2009), "this differs from government accounting, in which assets are acquired with tax money and creditor financing." According to Fischer (2008), "the income statement measures net income by matching revenues earned with expenses incurred using accrual accounting." This also contrasts from government accounting, which includes simply a statement of receipts and no income statements. Lastly, according to Fischer (2008), "a separate cash flow statement is typically prepared in for-profit organizations to show the cash consequences of the operating, financing, and investing activities during the period." Government accounting does not provide such a cash flow statement.

Conclusion

In conclusion, the Comprehensive Annual Financial Report serves as the government's official report (CAFR). According to Ruppel (2011), the CAFR is composed of three primary sections: an introduction, a financial portion, and a statistical section. "According to GASB, reporting entity includes all concerned agencies, boards, and commissions," explains Delaney (2009). Ruppel (2011) adds that "the GASB defines a primary government as either a state government, a local government with a special purpose, or a local government with a general purpose." According to Delaney (2009), "there exists a component unit that functions as a separate organization and to which the key primary government officials are answerable." "The Management's Discussion and Analysis (MD & A) summarizes a government's financial activities in plain English," according to Delaney (2009). Ruppel (2011) adds, "the MD & A attempts to make an in-depth comparison between the previous year's report and the current report, with a heavy emphasis on the previous year's report." In many ways, government accounting varies from accounting for profit.

References

Delaney, P. (2009). Financial accounting and reporting are covered in Wiley's CPA exam review. John Wiley and Sons, New York

Engstrom, J., and P. Copler (2001). Accounting fundamentals for government and nonprofit entities. Manhattan: McGraw-Hill

Fischer, P. (2008). Advanced Accounting was published by Cengage Learning in New York.

Ruppler, W. (2011). Wiley GAAP for governments 2011: application and interpretation of generally accepted accounting principles for state and local governments John Wiley and Sons, New York

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Business Failure And Unethical Accounting Practices Get Essay Help

Introduction

One of the current trends in company management within the majority of corporations is the application of extrinsic methods of incentive to drive improved employee performance. Extrinsic motivators consist of external benefits offered by the organization for attaining and exceeding the established metrics. In addition to employees, firms themselves contain extrinsic motivators in the form of financial statements that demonstrate enhanced performance that resulted in increased profits. In this scenario, the extrinsic motive is higher investor interest in the company, resulting in access to additional external sources of cash flow and the opportunity for reduced interest rates on debt incurred. On this basis, the higher management of a firm may often "manipulate" the data in order to put the company in a favorable light (Ruderman, 1-6). In order to produce a more favorable image of the company's profitability, this is accomplished through the use of a range of accruals, reserves, and other instruments. Accountants are fully aware of this, and a variety of factual and, above all, ethical approaches exist for achieving this objective. Some instances include releasing a portion of the company’s "rainy day" reserve cash (i.e. labor stoppages, natural calamities, etc.) or accountants recognizing profits from products before actual sales are completed (a tactic often seen in large retailers). Typically, a “restructuring charge” is only imposed when the company enters a profitable quarter in order to make up for the money that was used to enhance earnings in the previous quarter. According to several surveys, about 20 to 30 percent of corporations across a variety of industries use similar tactics to present their financial statements in a more favorable light (Matar, 194-204). Consequently, such actions have an influence on earnings deception to the tune of around 10% of earnings per share under the company's name. The rationale for these behaviors, which can be regarded "barely" ethical, is the pressure of Wall Street quarterly earnings expectations on many of the world's greatest firms. Occasionally, however, companies go too far with “fact fudging,” resulting in what can only be described as instances of corporate fraud in which the accountancy department is complicit in providing a means to “cook the books,” resulting in the presentation of falsified business data to deceive outsiders into believing that nothing is wrong or that the company is making more money than it actually is (Spathis, 509-535). The falsification of the firm's performance, cash flow, and profitability statistics in order to portray the company in a more favorable light qualifies as a form of business failure. Due to the potential for investors or banks to participate in a failing company, resulting in huge investment losses, such conduct is immoral. This is evident in the situations of Enron, WorldCom, and Adelphia, who "cooked the books" to the point that they listed billions of dollars in assets that did not exist. Taking these aspects into mind, this study will investigate the many warning indicators that are indicative of business failure when unethical accounting techniques are being used, as well as why such practices continue to be implemented despite the prevalence of ostensibly ethical individuals. It is anticipated that stronger business ethics procedures will be introduced as a result of this study, resulting in a higher knowledge of what can be done to prevent business collapse due to unethical accounting.

Increasing Income in Financial Statements

In certain businesses, a lump-sum payment for services that will be deployed over a number of years is reflected as a single payment for the current year. For instance, if a firm were to provide a security service to another company over a period of 5 years, with the contracting company paying in advance for the 5-year terms of service, the sum for services delivered would typically be based on the needed monthly payments (i.e. it should be amortized over the service period of the contract). Instead, the services firm would record that one payment as a profit for that year alone, despite the costs associated with providing the contracting company with the essential services. Channel stuffing is a practice of accounting in which a corporation registers all shipments of products to a distributor as sales rather than inventory. The issue with this technique of accounting is that it does not take into account the time required to make a sale or whether or not all the things could be sold. In some circumstances, products may be returned owing to any number of potential problems. Consequently, the information in the financial reports may be extremely deceptive, with the company sustaining losses that are not recognized. This is a type of business failure caused by the falsification of the company's actual sales and the concealment of any losses. Losses due to product returns or a lack of sales should appear on a balance sheet since they serve as indicators of potential operational and supply chain issues. Without these indicators, it is feasible to conceal internal operational issues that result in high levels of sales despite the reality of high returns and low sales outputs.

Deferring Costs on the Balance Sheet

Occasionally, businesses will capitalize on the price of manufacturing and distributing a product. This can be accomplished by listing a marketing campaign (i.e. the distribution of various marketing materials in the form of flyers, CDs, brochures, etc.) as a long-term expense and capitalizing the expenses in the balance sheet. The costs should have been included as a loss from normal operations on the company's income statement. By engaging in such practices, businesses are able to demonstrate positive income and low-appearing running expenses to outside observers. This could be considered a sort of business failure due to the fact that constructing a false image leads investors to believe that a firm is working efficiently and successfully while, in reality, it was only concealing the long-term costs of its operations.

Using nonrecurring expenses to conceal poor performance.

Non-recurring expenses are one-time charges that are frequently utilized in accounting as a way to analyze a company's present operational outcomes. The primary issue with the use of this particular accounting tool, however, appears to stem from the fact that corporations appear to adopt it annually as opposed to infrequently. Consequently, when they want to boost the company's apparent performance during a particularly slow season, they discover an excess of money that have been put away and place them back into the company's income statements. The underlying difficulty with such an approach is that it is being used to conceal shortcomings in the company's operations and has been taken out of context.

Off-Balance-Sheet Construction

Enron's strategy for concealing liabilities included the formation of secondary legal organizations that might incur liabilities and expenses that the parent firm did not want investors to see on its financial statements. Due to the fact that subsidiaries are recognized as different legal entities from the parent business, it is not required that their varied expenses and liabilities be reflected on the balance sheet of the parent company. This permits the parent firm to effectively conceal rising spending and large debt behind a "clean" and well-organized financial sheet.

Other Income or Expense on the Financial Statements of a Company

The concept of “other revenue or expenses” is utilized as a result of the variety of expenses or income lines that a firm may incur that do not fall under the typical categories used in the majority of financial statements. Typically, firms attempt to conceal earlier expenses by offsetting them against income from other sources in categories such as these. Such sources may include the sale of assets, equipment, or investments that the corporation previously owned. This is problematic because it permits the corporation to artificially increase its earnings through the sale of assets. This gives investors a false impression of the company's earnings, leading them to feel it is positive when it is actually negative.

The "Myth" of Business Ethics at the Present Time

On the basis of the information that has been presented thus far, the researcher hypothesizes that the cause of business failure related to unethical accountancy is the belief that company leaders will continue to use ethical methods of conduct despite the performance pressure from Wall Street and investors. The first fallacy to be debunked is the belief that businesses pick and train ethical personnel who always do the right thing. A poll of persons serving time for white-collar crimes finds that the root of unethical activity is not whether a person is ethical or immoral in contrast to other employees, but rather if the opportunity exists and there are no obvious controls. As was demonstrated in the preceding sections of this paper, so long as the opportunity exists, it is possible for a firm to employ unethical accounting techniques in order to meet investor expectations for corporate performance.

Even ostensibly unscrupulous individuals are compelled to adhere to an ethical approach of conducting business when there is no other option and severe control measures are in place. For instance, if an employee is instructed to find a way to reduce expenses in order to help the firm survive the recession, the employee may assist the company in reducing costs by outsourcing production to China. Everything appears to adhere to an apparent ethical standard, but a closer look reveals that the workforce used in the outsourced factory complex is required to work 18 hours per day under difficult conditions and minimal safety requirements in order to reduce production costs. From an ethical standpoint, this situation appears heinous, yet it is almost a daily occurrence for many retailers.

Companies may train their staff to do the right thing, but the truth remains that they are still businesses. When ordered to decrease costs for the sake of survival, one of the first concepts to suffer is the concept of ethics, as low-cost production often comes at the expense of a mistreated workforce. The second myth of business ethics is the notion that you will always do the right thing. The fundamental misunderstanding of this concept is that there are no guarantees that an individual will always do the right thing; if this were the case, business ethics training classes would not be required. When given with the chance and requirement to engage in some unethical actions, the vast majority of people in positions commit questionable acts. In reality, proper business ethics are more of a framework that an individual strives to adhere to than a belief in one's own capacity to adhere to ethical standards. If a person feels they are following correct business ethics because they believe they will not do wrong without a suitable ethical framework, it is highly likely that they will engage in unethical behavior in the near future. Legal compliance is the foundation of business ethics is the last myth to be explored.

Returning to the example of outsourcing to China, while outsourcing to another country is legal and employee environment standards are more lax there than in the United States, it must be noted that knowingly subjecting people to a dangerous production method and low pay is a violation of numerous ethical standards despite the act being legal under the country's legal code. In reality, business ethics is built on the concept of what is deemed to be the appropriate course of action that positively impacts an individual. Legally permissible actions that negatively impact an individual are still considered unethical.

The Importance of Implementing Corporate Ethics Standards

The proverb "the left hand does not know what the right hand is doing" takes on a greater significance in the context of organizations due to the expansion of multiple departments, operational sites, and standards for conducting business in certain sectors. Due to the fact that not all departments are aware of what other departments are doing, there is a significant level of uncertainty regarding the ethical practices that individual departments are or are not engaging in. As a result, it is necessary to develop a consistent set of ethical policies and procedures across all departments in order to ensure that the ethical practices of one department do not reflect poorly on the rest of the organization when it is represented in a particular business venture.

It must be acknowledged that when a particular operation, department, or employee engages in a clearly unethical conduct, consumers perceive the entire firm as unethical, despite the action being isolated to a single occurrence. On the basis of this example, a specific code of ethics is required to assure a generalized type of ethical accountability across all divisions in order to prevent any behavior that could damage the company's reputation.

Program Implementation

In organizations where basic ethical principles are adopted department-wide, it is evident there is a need to implement a program based on the facts presented thus far. This program, dubbed “Employee Ethics and Integrity,” will consist of a Code of Ethics that will be rigidly enforced by corporations, requiring all employees to adhere to the ethical norms and obligations detailed in future versions of present corporate policy manuals.

The benefit of applying these specific criteria is that it assures a company has an ethical foundation for conducting business. This will be reflected in areas relating to financial reporting, corporate social responsibility, adherence to proper ethical accounting techniques, and environmental protection, as well as ensuring that staff adhere to policies that benefit the company.

Conclusion

According to the information presented in this article, there are multiple ways for a firm to inflate its revenues using various accounting procedures. Typically, such activities stem from the requirement of achieving investor expectations at any cost. In order for a corporation to prevent commercial loss as a result of inappropriate accountancy practices, it must create a strong enough ethics program to ensure that such activities are not even considered as a last resort. It can be assumed that if such a program is properly implemented in the near future, problems related to corporate mismanagement, falsification of data, evasion of laws, and government regulations can be avoided with employees considering the repercussions of their actions based on the disciplinary action prescribed for violations of the ethical code of conduct. Not only would this compliance benefit the company, but it would probably also benefit the customers.

References

Matar, Mohammed. "The Disclosure Of Information Required In The Financial Statements Of SMES: Empirical Case Study Of Jordan." Proceedings Of The International Conference On Information Management & Evaluation.

Ruderman, Susan. "Teaching Non-Specialists About Financial Statements: A Resource Guide."

Business Information Alert 16.5 (2004): 1 through 6. EbscoHost. Web.

Detecting Falsified Financial Statements: A Comparative Study Employing Multicriteria Analysis And Multivariate Statistical Techniques, by Chenos Spathis.

European Accounting Review 11.3, 509-535 (2002). EbscoHost. Web.

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The Process Of Recruiting New Staff Members Get Essay Help

Table of Contents
Introduction Recruitment Resources Evaluation Policies The Operational Assurance Principles Conclusion Works Cited

Introduction

Improving fire-prevention education is currently one of the fundamental safety education's top concerns. In this sense, the British government allocates significant resources to fire safety education, particularly among elementary school-aged children. Additionally, numerous efforts are made to improve the public's perception of firemen. 95% of respondents to a survey done by Readers Digest among 25,000 readers in 15 nations rated their trust in firefighters as "very high" or "fairly high" (Readers Digest Magazine). According to these findings, firefighters are more trusted than physicians, nannies, and instructors. Such a positive image might be viewed as a component that contributes to the public's favorable perception of any instructional initiatives undertaken by fire safety departments. In this regard, high-risk groups may be viewed as having the highest priority, with an emphasis on young children in elementary school. Important aspect of the fire and safety service is raising the knowledge of such groups regarding fire safety issues. The concept of enhancing safety should center on objectives such as cultivating the norms of safety behavior toward the surrounding environment, building responsible relationships toward one's own and others' safety, and propagating the fundamentals of fire safety, among others.

In view of the aforementioned, the local administration in Folkestone has proposed an initiative to increase young children's awareness of fire safety. Consequently, this study examines the resource management and human resource management difficulties associated with such a project. The paper describes the process of recruiting two new staff members for the project, as well as the required resource materials, and outlines the key evaluation standards.

Recruitment

Two full-time staff members were determined to be necessary to meet the project's human resource requirements. The necessary tasks for the project can be determined by comparing the program's objectives to those of a community safety officer and a community safety practitioner. Both positions are frequently mentioned in the context of crime and unrest, but they also apply to fire safety. Consequently, the following job description illustrates the responsibilities of a community safety manager.

Purpose

Increasing the fire safety understanding of primary school students in Folkestone. Manage, assist, and coordinate the operations of the team of community safety officers that provide fire safety education to youngsters.

Duties and Accountabilities

Working closely with the local fire safety department and other local authorities to ensure the awareness program's goals are met. Managing the program's budget, including "monitoring expenditures and preparing estimates" (Community Safety Jobs, "Community Safety Manager") Providing guidance on concerns of community safety.

In addition to other duties, the job description for a community safety officer emphasizes working under the direction of the manager. These obligations can be viewed as follows:

Purpose

Providing assistance to the community safety manager, completing assigned responsibilities, and planning events aimed at enhancing children's fire safety knowledge.

Duties and Accountabilities

Working closely with the manager of community safety. Children are informed of the program's learning outcomes through assigned learning resources and coordinated events. Represent local authorities at meetings and events outlined in the program. Assist in monitoring and collecting assessment-related data for the program. Prepare reports on completed duties (Community Safety Jobs, "Community Safety Officer").

Both candidates should possess a bachelor's degree, leadership and communication abilities, and knowledge of the theoretical, practical, and legal aspects of community safety.

Regional Centres of Excellence propose the use of a recruiting agency, a list of approved suppliers, or a mix of the two for recruitment. The final alternative, which is a blend of both methodologies, is a viable option for the current project. The National Community Safety Network (NCSN), a practitioner-led organization that assists persons interested in the promotion of community safety in the United Kingdom, may be included on the list of preferred suppliers (NCSN). Many aspects should be considered when determining salaries, including principles of fair paying, the agency's standing relative to other agencies, the rate of inflation, and training programs, among others (Michigan State University).

Diversity issues in the workplace can be managed in accordance with the National Equality and Diversity Strategy's guidelines, where information on maintaining such aspects is monitored and reported in a national equity and diversity report (Department for Communities and Local Government, "Fire and Rescue Service National Framework 2008–11"). Considering that only two workers are to be hired, Folkestone's fire and rescue service's existing proportions should serve as the basis for the goals to be achieved. Thus, by examining the present parity of minority staff across the entire firm, hiring targets can be determined.

Training could be explored for the new staff in order to introduce them to the notion of fire and rescue services, if necessary, as part of a community safety qualification program in which fire safety is one of several areas of emphasis. Candidates with expertise in fire safety issues will be preferred, per the national procurement strategy, which states that "skills and apprenticeship requirements addressed in procurement are relevant to the subject matter or performance of the contract" (Department for Communities and Local Government, "National Procurement Strategy for the Fire and Rescue Service in England 2009-12," p. 21).

Resources

The implementation of the program can be accomplished in a variety of ways, which are detailed below:

The process of creating informative video clips is instructive. Such features can be found among the primary components of the project, namely raising children's understanding of fire safety. The selection of clip topics should adhere to the guidelines of fire and rescue service departments and, if necessary, be altered to reflect the most common incidents reported to the local department in Folkestone. The resources consist of the clip, the media, and the necessary equipment for its rotation. Children will be taught fire safety fundamentals using instructional materials. The materials consist of educational pamphlets, visual and textual devices, such as posters and stands, and multimedia gadgets. The initial concept could involve preparing lessons in three primary schools, with potential expansion to all primary schools in Folkestone. Organization of cultural events for students in elementary school. Organizing the event within a special week devoted to fire safety in the city is possible. There may be a mass presentation of instructive videos, contests, and role-plays with youngsters, for which prizes will be awarded.

Thus, the available funds can be allocated to printed materials, equipment, multimedia materials, training, salaries, and clip costs. The procurement process for the aforementioned resources will be guided by the value for money principle, which is defined as "the optimum combination of whole-life cost and quality (or fitness for purpose) to meet the user's requirement" (Department for Communities and Local Government "National Procurement Strategy for the Fire and Rescue Service in England 2009-12" 33). Utilizing best practices in accordance with the principles of value for money will ensure efficiency. In this regard, the procurement strategy will be informed by the national procurement strategy for local government, the national procurement strategy for the fire and rescue service, including regional strategies and regional centers of excellence (RCEs), and the best practices guidance of organizations such as the Chartered Institute of Purchasing and Supply (CIPS), the Chartered Institute of Public Finance and Accountancy (CIPFA), and Local Government (Office of the Deputy Prime Minister 10).

The following points are included in a summary of the applicable procurement guidelines:

In the sectors of information and communication technology and professional services, the Office of Government Commerce is consulted regarding collaborative approaches in procurement (Department for Communities and Local Government, "National Procurement Strategy for the Fire and Rescue Service in England, 2009-12," 13). Conducting process/competency and expenditure analysis (CIPS 3).

The procedure for acquiring these goods can be summarized using a condensed version of the CIPS Purchasing & Supply Management (P&SM) Model, which consists of the following phases and steps:

Pre-Contract

Identifying needs.

Choosing a procurement strategy. Marketplace development. Bid documentation. Advertisement. Contact suppliers. Tendering.

Evaluate and pick suppliers. Obtain offers. Create and negotiate contracts.

Post-Contract

Administer the project.

Manage the resources. Acceptance of service Lesson management and evaluation (CIPS).

Evaluation

The overall objective of the project is to raise children's awareness of fire safety procedures. This objective can be broken down into various sub-points that describe the program's goal and outcomes. Such results include:

Understanding the dangers and repercussions of fire. Understanding the types of actions that may cause a fire. Knowing how to assess risk zones and identify danger and hazardous substances. Understanding the sequence of activities children should do in the event of a fire in the building where they are placed. Instruction on administering first aid and contacting emergency services.

These objectives can be linked to a number of advantages, the most significant of which being the reduction in fire-related mortality. Long-term benefits of the program include instilling a feeling of responsibility in children, which may be reflected in the community through the development of a conscientious and accountable attitude toward concerns of personal and community safety. Consequently, raising children's awareness can be viewed as one of the phases towards popularizing safety ideas across the population.

Establishing SMART objectives for the project enables the evaluation of the project. Specific, Measurable, Achievable, Results-oriented, and Time-related is the acronym for SMART (Elearn Limited (Great Britain) and Pergamon Flexible Learning. 22). These objectives should be set and evaluated based on whether or not they are SMART. In this regard, the purpose of the program can be evaluated in a short-term perspective by undertaking a quantitative study of the children's knowledge. A comparison of the pre-test and post-test outcomes of the test can function as a measurement tool. The related SMART aim can be demonstrated by a moderate rise in test results that reflects the project's outcomes. It can be stated that such scores are specific, focusing on a single and particular area, that they can be measured, that they can be achieved, being attached to specific results, and that they are consequently constrained within specific time frames, which will be a period agreed upon by school administrations and the fire and safety department. It is recommended that this framework be constructed for a period of six months, which is sufficient for evaluating the program. Long-term, the same criterion can be applied to another target, namely the number of elementary school-aged children killed in fires.

Policies

A variety of policies and laws govern the execution of such a project and its objectives. The rules and expectations indicated in the Fire and Rescue Service National Framework largely direct the program's primary objective in terms of intervention and education. Such guidelines, rephrased in the context of the policy, state that authorities should "[h]ave in place arrangements for heightening public awareness and vigilance regarding safety issues during emergency cover" (Department for Communities and Local Government "Fire and Rescue Service National Framework 2008–11," 33). Programs and campaigns with a similar objective to that of the present report are an illustration of this type of policy guidance. Additionally, the national framework for fire and rescue service guides two other areas of expertise, which are:

Providing statistical information, evaluating, collecting, and exchanging data, the results of which can be utilized as program assessment metrics. The framework's primary aims include guiding the recruiting process in terms of equity and diversity (Department for Communities and Local Government, "Fire and Rescue Service National Framework 2008–11").

The national procurement plan for FRS and the regional procurement strategies can be viewed as the guiding principles of good procurement. In this regard, the legal framework includes regulations such as public contracts, a set of policies guiding the awarding criteria for public contracts (PUBLIC PROCUREMENT). In addition, it should be emphasized that the education department plays a significant role in the programs, as seen by its participation in the distribution of clips, coordination of the work of community safety officers and the regular class schedule, and participation in program-organized activities.

The Operational Assurance Standards

By analogy with the operational assurance team in fire and rescue services, as defined by the national audit office, a comparable team can be formed to evaluate the available resources (The National Audit Office 19). This checklist will not only reveal the program's available resources, but also its flaws and areas for improvement. This can be used when changing the software or expanding its reach to include different regions. A modal assessment table appears as follows:

Equipment Staffing level required Number of available personnel Variations

Luminaires 1 2 1

Posters 3 2 -1

Stands 2 2 0

Pamphlets 3 2 -1

This table is only an example of how data regarding the project's resource requirements might be evaluated; more criteria can be added.

Conclusion

This study provides a summary of the most important considerations for the proposed project to increase fire safety knowledge among Folkestone's elementary schoolchildren. The report gave an overview of recruitment challenges, required resources, the project's primary operations, its objectives, and evaluation procedures. In addition, the present study gave an outline of the policies that shaped the project's structure. It may be argued that adhering to the specified standards and principles in matters such as procurement guarantees that the best opportunities are pursued and that services are delivered effectively and efficiently. Defining the link between entities that provide guidance on the greatest procurement opportunities is crucial for advancing efficiency and fostering best practices. In addition, the report highlighted the significance of the project's context, which is raising children's understanding of fire safety issues. In this regard, the project is one of the preventive actions of the department's fire and rescue service.

Sources Cited

Chartered Institute of Purchasing & Supply. "CIPS Purchasing & Supply Management (P&Sm) Model." 2003. Chartered Institute of Purchasing & Supply. Community Safety Jobs, "Community Safety Manager," 2010. Community Safety Jobs, "Community Safety Officer," Community Safety Jobs in 2010. Communities and Local Government Department National Procurement Strategy for the Fire and Rescue Service in England 2009-12. 2009. Communities and Local Governments. Fire and Rescue Service National Framework 2008–11. Elearn Limited (United Kingdom) and Pergamon Flexible Learning Management Extra: Project Management. Oxford: Elsevier Michigan State University Press, 2005. Print. MSU Resource Management Principles, “Resource Management Principles: Approaches to Planning and Budgeting,” 2004. NCSN. "Community Safety Network: About." 2010. Office of the Deputy Prime Minister, National Community Safety Network. National Procurement Strategy for the Fire and Rescue Service, 2005-2008. 2009. Action plans and strategies. The Public Contracts Regulations 2006, Office of Public Sector Information, 2006. PUBLIC PROCUREMENT. 2010. Essex County Fire & Rescue Service. Web. Readers Digest Magazine. "Firefighters -Most Trusted in Europe." National Auditing Office “New Dimension – Enhancing the Fire and Rescue Services’ Capacity to Respond to Terrorist and Other Large-Scale Incidents”. National Auditing Office in 2008.

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Leadership Concepts, Business Leadership Opinion Get Essay Help

Table of Contents
Introduction Summary of material read Respect for rules References

Introduction

Frequently, America is referred to as the worldwide leader. What does it imply to be a leader? The act of leading entails directing the activities, course, and even opinions of others in order to achieve specific goals. Leadership roles and processes are those that facilitate establishing direction, fostering cohesion, and sustaining commitment in groups of individuals that collaborate on a project (McCauley 2). A leadership author, Warren Bennis, states, "In some ways, leadership is like beauty; it's difficult to define, but you know it when you see it… At the beginning, becoming a leader is equivalent to becoming yourself. Bennis also defines leadership as a function of understanding oneself, having a well-communicated vision, fostering trust among peers, and taking effective action to reach one's leadership potential.

In the corporate or business sector, leadership has characteristics that contribute to its survival. Standardized work is one of the elements. "Standardized work is defined as work in which the sequence of job elements has been organized efficiently and is followed repeatedly by team members" (Lean Production Simplified 35). "Standardized work is currently the most well-known method for performing the work, and it is continuously revised based on kaizen and shifting business conditions" Journal of Leadership and Organizational Development (32). Imai (1986) stated that improvement is impossible in the absence of standards. This study aims to present a comprehensive view on leadership in an organization. It will also tie leadership characteristics to the diverse stakeholders of any organization or enterprise.

Summary of material read

According to the presented information, every firm has stakeholders, including employees, suppliers, consumers, investors, the community, and competitors. Each of these stakeholders has a distinct and individual relationship with the company's management. Effective management or leadership structures must be in place for a business to prosper. According to the report, the leading causes of business failure between 1907 and 1911 and 1998 to 2003 were insufficient capital, incompetence, fraud, inexperience, debt, inadequate leadership, poor planning, inability to adapt to change, and low revenue. All of the above causes are related to management at some point. Three corporate case studies were included in the extracted article. Among these corporations are Hewlett-Packard, Toyota, and General Electric. The three corporations have and continue to exhibit excellent leadership in the markets they dominate. In order to achieve this position, they all implemented a precise statement of their mission and purpose. They developed a notion referred to as methods. This is essentially the organization's mode or expected cause of action or mental conception. The Toyota method is as follows:

The Japanese phrase Genchi Genbutsu means "go to the source." In the event of a problem, it is more productive to identify the root cause of the issue and make the necessary decisions. The alternative approach was General Electric's, followed by HP's. The diagrams are straightforward depictions of the three methods.

All of this served to remind all stakeholders, especially employees, of their daily obligations to the company and the company's to them. The methods are attributable to the tremendous success of the three companies.

The essay emphasizes on leadership as an advantage to any business or organization, but only on a basic level. The reference text includes an appendix that concentrates on the Caux Round table Principles for business, a frequent reference point for business-related debates. The table reflects the notion that the global business community must contribute to the advancement of the economic and social spheres. The paper (Caux Round table 23) serves as a measuring stick for acceptable business conduct. The principles of the paper are derived from two ethical ideals. These ideals are Kyosei, which entails working and departing as one for the common good and the preservation of human dignity. Human dignity, on the other hand, is the worth attributed to a person as opposed to viewing them as a means to satisfy the demands of others. The principles aim to instill organizational accountability in leaders for the benefit of all stakeholders. The principles consist of:

The obligation of a firm to its stakeholders. A company is solely valuable in relation to its employment rate and economic contribution to society.

The social and economic impact of a company on innovation, justice, and the general welfare of a community. A firm should enhance the well-being of its local community and the entire world.

Respect for rules

As expected, every business must adhere to both national and international regulations.

Business conduct. Credibility is crucial to the success of any firm. To improve their local and global relationships, all businesses should engage in the most transparent transactions possible.

Support for multi-lateral trade. Both domestic and foreign trades can benefit from global commerce. Many life standards are raised as a result.

Consideration for the environment The environmental effects of a company's operations should be taken into account. Businesses emit noise, odors, and chemicals, among other environmental hazards. According to C.N.N. (par. 5), global warming is an industrialization-induced global catastrophe.

Distance yourself from illegal trades. Instead of engaging in illicit activities such as money laundering, a firm should work to eliminate them. Journal of Leadership and Organizational Development (44). All of these principles must be upheld with equal importance, as they are crucial to the survival of any trade.

Several assertions in the excerpt have my full support, such as the one on page 26 of the Leadership and Organization Development Journal (44), which states, "Small leadership errors frequently snowball into larger ones, which can threaten the business's very existence." This demonstrates the great significance of effective leadership to a company.

Currently, Dubai is experiencing a crisis. The situation is known as the Dubai global crisis. The crisis is the outcome of insufficient industry investment. Leadership in corporations entails the establishment of mechanisms such as crisis prediction for stakeholders, mainly investors. Numerous real estate investors stand to lose billions of dollars if the current status of the crisis persists. As stated in the first principles, a corporation owes a direct obligation to its stakeholders; this is why the company is seeking funding to regain its status.

The fifth principle calls for the promotion of multilateral commerce. Abu Dhabi is planning a selective bailout of state-owned Dubai World, whose debt default precipitated a dramatic decline in world markets. (Aljazeera English weekly, par. 4) This is a strong indication of support for the business wellbeing of neighboring nations, as Dubai is adjacent to Abu Dhabi. Dubai’s crisis erupted on the 25th, when the emirate, known for luxurious lifestyles and the world’s tallest structure, announced that it would delay payment on debt issued by Dubai World, causing investors to fear and dragging down global markets. (Aljazeera English weekly, section 8) As a result of the economic downturn, we have realized the importance of a company's credibility for its long-term survival. For Abu Dhabi to grant Dubai a loan, Dubai's credibility must be beyond reproach. The legal approach to resolving the Dubai World crisis is an additional guiding element. In a failing economy, there are no hidden reasons to create balance. This is a prosperous business climate.

Lessons learnt from the literature can be separated into two categories: ethical and logical. The majority of the ethical lessons focus on an organization's social and economic responsibility to the society around its activities and even the global community. This establishes a collective objective for enterprises to pursue humane operations while preserving the dignity of every individual. Another lesson is that for a firm or business to grow, its stakeholders must understand its primary objectives. The most essential parts of the business process should be illustrated and made easy to understand. No extra consideration should be provided to any particular stakeholder because they all influence the firm to a comparable degree. Labor is a business's most valuable asset, yet it must be handled with care because it consists of human energy, and people can be difficult to manage if they feel animosity or insignificance. The logical portion of the courses addresses the responsibility of company executives to disclose and investigate potential inventions and setbacks that could cause a corporation to fail or succeed. For society to purchase the firm, it must have money, which can only exist if people work and engage in business operations. The provision of jobs attempts to fill this gap and enhance the living conditions of society, hence increasing the organization's profits.

It is evident that there are several connections between stakeholders and the organization. The business should cohabit with society to the best of its ability. There are numerous internal aspects that might affect the success or failure of a firm. If the organization has the proper structures, these factors are straightforward to manage. Business executives must be adept in all facets of interpersonal relations. He or she should understand how to interact with each stakeholder level, fostering equity and a sense of good management within any firm. In the event of a problem, he or she should be the one to resolve it. The leader must also advocate for a favorable business environment. Customer loyalty is difficult to obtain and sustain, but good corporate conduct will keep transactions operational. As described by McCauley in her book "The Professional Manager," the leader of any organization must always uphold the organization's core values.

References

2009 Al Jazeera web page, "Abu Dhabi to 'assist' Dubai World."

Bennis, Warren. 2003, New York: HarperCollins publishers; Leaders: strategies for taking charge.

Caux Round table. 1994. principles for businesses. Web.

Cnn.com. Changes in climate, July 2008. Web.

General Electrics. General Electrics Values,2007. Web.

2007 Web. Hewlett-Packard Company. Hp.com.

Imai, Kaizen. The secret of Japan's overall prosperity, New York: McGraw Hill, 1986.

The Professional Manager, New York McGraw-Hill: joss-bass, 1992. McCauley, Christopher, and Jesse Kuhnert.

McCauley, Christopher. Our Perspective on Leadership Formation. 2004 New York McGraw-Hill, New York: Jossy –bass

Pascal, Dennis. Lean Production Simplified, New York: Productivity Press, 2002

A History of the First 50 Years of Toyota,

Toyota Motor Corporation,Japan.1988. Web.

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Hilton Hotels & Resorts And Marriott Hotels: Competitive Strategies Get Essay Help

Table of Contents
Introduction Body Conclusion Bibliography

Introduction

In general, competitive strategy refers to a game in which separate actors aim for the same object. Nevertheless, in a market context, competitive strategy develops when numerous market actors strive to attain the same target from strategically distinct locations. Consequently, a competitive organization is portrayed as cost-effective, highly differentiated in its product offerings, more efficient in its transactions, reorganizing its transactions in response to market demands, and keeping positive relationships with its agencies (Giovanni, 2012).

Main body

Companies in the present day are modifying their rivalry by utilizing data to defeat rivals (Kaplan and Norton, 2007). Consider the travel and tourism industry company Hilton Hotels & Resorts. Over time, its market environment has become dynamic and competitive. Every day, the company encounters novel situations, such as the opening of a new hotel, the introduction of a new holiday package, and promotions for the new products (Hilton Canada, 2012). Moreover, there are variances in the performance of particular enterprises within the same industry in terms of size, items offered, people, organization, location, and history (Gordon, 2004). Using client preferences and tastes as a guide, Hilton Hotels & Resorts use this differentiation strategy to attract consumers from a variety of geographies and who have diverse product preferences.

According to Grant, Halldorsson, Kotzab, and Teller (2009), the lowering of product volumes in the market, the increasing sophistication of technology, the shortening of product life cycles, the rise in consumer demands, and the increase in competition from other firms are causing businesses to reduce costs. With the rise of other firms in the position of Hilton Hotels & Resorts, for instance, the hotel's operations have been enhanced, rated according to social status, and the overall cost has decreased over time (Hilton Canada, 2012). This cost leadership strategy has allowed individuals from lower socioeconomic strata to utilize Hilton Hotels & Resorts' facilities. The organization raises its profit margins as a result.

Moreover, enterprises must offer new items to the market at the appropriate moment, alter their means of distribution, and increase product promotion in response to changes in competition and organizational regulation in order to remain competitive (Akhter, 2003). This has led Hilton Hotels & Resorts to offer other hotels the option of franchising for a fee, allowing it to acquire a focus on specific targeted areas in various regions of the world (Hilton Canada, 2012).

The organization's competitive strategy is related to the market in which it operates. The phrase market structure describes the interaction between buyers and sellers. The table below illustrates the distinctions between various market structures.

Table of Differences Between Market Structures

Ideal competition Monopoly Monopolistic competition Oligopoly

Illustration of organization Truck agriculture Local telephone service Computer industries like dell Auto industry

Including Ford

Produced items or services by the organization Vegetables, tomatoes, and corn.

Internet services Calling services Currency transfer

Computer and notebook Laptop and computer accessories

Automobiles and automobile parts

No barriers to entry

Technology Geography Administration

Product specialization Non price completion

.

Interdependence behavior Pricing practices

Numero of businesses Numerous One Several

elasticity of demand to price Unaffected by particular companies Determined by the business Distinctive among industry products vendors colluded together

Exist economically profitable outcomes? Yes Yes Yes Yes

Oligopoly describes the competitive landscape in the hotel sector, particularly among hotels with comparable star ratings, such as Hilton Hotels & Resorts and Marriott Hotels. Every hotel in the same rating considers every other hotel in the same rating to be a formidable rival with a significant impact on the customer's decision. Therefore, in order for the firm to succeed, they propose to work together by secretly conspiring on product prices. Generally, price collusion happens to thwart competition (Gray, 2008).

Consequently, hotels and resorts in the same oligopoly market face price wars infrequently, and when they do, they last very briefly. Typically, these hotels and resorts follow the pricing practices of their competitors. As a result of their pricing reliance, these businesses prefer to compete on product offerings, brands, and special services to capture customers' affection (Gray, 2008).

When hotels are graded based on their size and amenities, monopolistic competition enters the market. For instance, Hilton Hotels & Resorts are five-star hotels, and the market has monopolistic competition when compared to hotels with lower ratings. This is due to the fact that one-star and five-star hotels provide identical products with different packaging or branding and at different rates. In addition, the hotels are in different locations than their competitors, employ various payment methods, and have distinctive designs. Consequently, no company can affect the costs of brands with a different grade. In addition, there is a moment when hotel output exceeds need, and clients stand to gain from the wide range of hotel ratings (Gray, 2008).

Under monopolistic competition in the hotel sector, similar items are typically supplied at a narrow price range because if a hotel with higher ratings raises its brand prices too much, consumers would abandon its services for those of a lower-rated hotel. In addition, when these hotels seek to maximize their profits, they ensure that their marginal cost and marginal income are identical (Gray, 2008).

However, the hotel business cannot be categorized as monopolistic or perfectly competitive. This is due to the fact that in a completely competitive market, there are several well-informed buyers and sellers. As a result, they purchase from stores with the lowest prices, and businesses respond by lowering their pricing to avoid losing customers. This contradicts the hotel industry. In addition, neither buyer nor seller is believed to have the ability to influence prices, products are of comparable quality, and neither brand names nor advertising are required. This established competition for the money of purchasers will see sellers and buyers battle for the lowest pricing (Gray, 2008).

Conclusion

In a monopoly market, there is only one vendor, which is not conceivable in the hospitality industry. Generally, monopolies in this area have been combated through government tourism efforts that offer fresh opportunities for competition alongside the potential monopoly. In monopoly, the supplier determines prices, and customers have no choice except to comply. However, in the hotel industry, in order to alter prices, client behavior must change (Gray, 2008).

References

Strategic Planning, Hypercompetition, and Knowledge Management, Business Horizon 2, no. 2 (2003): 19-24.

Handbook for Research on Competitive Strategy, by Giovanni B.D. Edward Elgar Publishing Limited is located in Cheltenham, United Kingdom.

Modern Competitive Strategies, authored by Gordon W. Gordon in 2004. New York, United States of America: MacGraw-Hill International.

Grant D. B., Halldorsson A., Kotzab H., & Teller C. (2009). Management of Supply Chains and Hypercompetition. Logistic rest.,4, 5-13.

Gray E. C. (2008). Economics: Theory and Application. New York, United States: MacGraw Hill

R. S. Kaplan and D. P. Norton (2007). Using the Balanced Scorecard as a System of Strategic Management. Harward Business Review, 5, 1-10.

Hilton Canada (2012). Canada Hilton Hotels & Resorts Franchise Disclosure Document by Hilton International Franchise LLC.

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Growing Blueberries In California Get Essay Help

Introduction

Blueberries are a type of bluish or blackish North American berries. The plants are frequently shrub-like and are consumed and used to make pastries. The plants normally produce during the summer and are preserved for usage throughout the year. Blueberry eating is widespread in the United States due to the nutritious content of blueberries, which includes calcium, iron, and phosphorus, all of which are essential for bone health. The high vitamin C concentration is essential for reducing sun and pollution-induced skin damage. Blueberries are also rich in nutrients that aid in the treatment of diabetes, prevention of cancer, reduction of heart attacks, and maintenance of adult cognitive health.

Blueberry Varieties Available for Sale

The most widely farmed blueberry cultivars in the United States include the lowbush, northern highbush, southern highbush, Rabbiteye, and half-high. The high northern bush is the most widespread plant in the United States, as well as the main crop. However, the Southern highbush has acquired foothold in the Carolina region, resulting in its expansion across the state.

Options in Blueberry Cultivation

The concept of organic and conventional crops has been contentious in all areas of agriculture. This concept stems mostly from the considerations of acceptable pricing and maximum crop output (Panicker et al. 468). Therefore, conventional crop production is likely to feed a greater population with lower-quality plants. However, plants like blueberries are luxuries and do not require massive production levels to ensure crop sustainability. Whether conventionally or organically grown, the blueberry harvest has a comparable price, which is relatively expensive. Fresh blueberries cost between $14 and $36 per pound. The organic blueberries cost approximately $27 per pound. The exorbitant cost of conventional berries is due to chemical and other inputs, but the low yield of organic blueberries results in a higher price.

Examination of Both Varieties

Natural Conventional

Are expensive to cultivate

Sell at a premium: $27 per pound

Have lower returns

Are of exceptional quality Competitive pricing $14 per pound

Are low-cost to raise

Maximum crop yield

Feed a larger group with plants of inferior grade.

Blueberry Collection

In commercial blueberry fields, a selector earns $30 per hour as the trend toward machine harvesting of blueberries continues to spread across the United States. However, the machinery is diversified and somewhat more expensive. The relief of physical strain for pickers and worker speeds is a key concern in all blueberry-growing countries, resulting in increased labor and prices. A fully automated harvester reduces labor requirements and plant and fruit damage (Kim et al. 4). On the other hand, the ergonomic implications of handpicking are seen detrimental for farmers who operate larger farms. However, manually harvested plants are likely to be of higher quality than those harvested by machine. In addition, the shrubs must be sufficiently robust to avoid being damaged by the mechanical picking tools.

Fig. 1 demonstrates that the use of hand-held tools is useful for preventing damage.

Profitability of Blueberries by Acreage

The planting initiatives for blueberries differ dependent on the sort of blueberry farming practiced in a particular place. Organic endeavors are typically more expensive to adopt since they demand more intensive labor to achieve comparable yields to traditional farming. The organic and conventional yields of manure are around 16,000 to 18,000 pounds per acre, with conventional agriculture producing greater yields (Hoshide et al. 3). The cost of conventional farming is approximately $3,921 per acre, while the cost of organic farming is approximately $5,856 per acre for Organic blueberries (Kim et al. 8). The usage of a two- to three-acre agricultural plan would be profitable after seven years if the plants are mature, especially if the farmer and his family harvest the fruit by hand and incorporate U-pick programs where customers are more interested in the picking and consuming.

Using non-manure equipment for crops in situations where it may not be effective can cost as much as $8,454 with an annual revenue of $8,754. Up to six years would pass before the farmer would see a return on his investment from the plants in issue (Hoshide et al. 9). Initiatives for larger farms of up to 170 acres yield substantial revenues anytime new tools are implemented. For smaller farms, handpicked and u-pick activities are the best way to increase crop yields significantly.

Farming techniques Natural Conventional

Farming of manure $5,856 $3,291

Non-manure implements per acre $8,454 $ 5,562

Table 2: Farming expenses per acre

Options for Blueberry Farming Land Holding

Land acquisition in California varies substantially depending on whether the land is leased or acquired. To generate considerable profits from blueberry farming, it would be necessary to acquire the land for up to eight years, during which the yield will be high, and the firm will have broken even a couple of years earlier (Panicker et al. 468). Land lease plans in the region range between $2,500 and $3,700 per acre. Similarly, the same land would cost between $15,000 and $25,000 per acre to acquire. A farmer would be well-advised to purchase the land, as the cost of leasing can easily equal the purchase price in the first two years (Hoshide et al. 12). The land purchase option permits farmers to develop the property as they see fit and permits the establishment of processing plants, all without worry of eviction or foreclosure in the near future. In the mid-range lands, a combination of the two would be ideal, especially in remote areas. Therefore, costs may be reduced in more remote places.

Start-Up Capital

It is vital to recognize that the initial years of manufacturing will generate a limited income. Therefore, one must account for land costs, planting and harvesting expenses, and farm equipment. In the first several years, it is ill-advised to utilize farm machinery. Initial costs for four acres under a lease-purchase arrangement would be up to $25,000 for leasing and up to $50,000 for purchasing (Kramer). The farmer should then investigate planting and harvesting at an annual cost of $10,500 per acre. This amounts to $42,000 annually. Therefore, the total payment for the three years is $351,000. To account for miscellaneous expenses, it is best to budget $360,000. At the end of the first five to six years, the investors should be assured a percentage return on their money. It is a long-term investment, thus the percentages must be calculated carefully to prevent losses.

Operating Expenses

Cultural Costs

Farmers of blueberries incur a number of cultural expenses, including early summertime land preparation. When properly managed, blueberries are a perennial crop that can produce in more than 25 places. Plants are an additional cultural expense, since growers must choose the best varieties, such as gem, star, and emerald. Additionally, planting, acidification, mulching, fertilizing, irrigating, trimming, insect management, and harvesting are necessary (Rodriguez-Saona et al. 100). These are a some of the cultural expenses that growers will incur when engaging in blueberry cultivation in California.

Planting Expenses

The cost of planting an acre of organic crops in California using minimal implements was determined to be $5,800. In this situation, farmers are expected to employ manure as their primary agricultural tool and to manually eradicate pests. Therefore, the business is centered on acquiring the plants' nets for preventing the buildup of pests and, most importantly, birds (Panicker et al. 470). Therefore, the cost of planting will be $3,500 per acre. The prices in question will cover planting and chemically-based care. These will require less labor and have lower expenses. The total cost is consequently $23,200 for organic agriculture and $14,000 for conventional agriculture.

Labor Prices

During harvest season, producers will pay $30 per farmhand in labor expenditures. Depending on the production and level of competition, the price can drop as low as $12. For an early harvest that can cost $17 per hand per hour, it would be prudent for the farmer to obtain and plant the seedlings as soon as possible (Hoshide et al. 98). For the four acres in question, the farmer may eliminate these expenditures by utilizing his permanent employees and U-pick efforts. The expense of acquiring harvesting tools is significant, and their utilization is ill-advised from a quality standpoint; hence, this strategy is not a strength of this task.

Equipment

The cost of leasing farm equipment will not be a major consideration for the small farm necessary to carry out this plan. The cost of leasing equipment will range from $5,000 to $10,000, hence boosting labor expenses. However, leasing equipment is less expensive than purchasing it because numerous organizations encourage leasing (Rodriguez-Saona et al. 102). Buying farming equipment will cost more than $75,000, which is prohibitively expensive for establishing a farm, making leasing the best alternative.

Recommendations

The aforementioned information provides the rationale for the decision to purchase land for a blueberry plantation. To maintain the crop and establish a business in which product quality is more essential than quantity, the emphasis should be placed on the best equipment possible. Through the interface of farming costs, strong returns on investment will mediate the majority of the costs.

Sensitivity Analysis

Given that the current approach focuses on long-term costs, it should be crucial to cover the investment agenda and guarantee that all potential expenditures are accounted for prior to implementing the plan. Given the size of the farm and the startup's available resources, it will be essential to establish strategic alliances with local businesses in order to lay the groundwork for an effective presence. The cost of equipment and land will not be susceptible to sensible adjustments, thus it is important to remember that labor costs are the crucial component that will be modified over time.

References

Who Values Wild Bee Pollination for Wild Blueberries and Cranberries?, by Aaron K. Hoshide et al.

” Environments, vol. 5, no. 9, 2018, pages. 1-24.

Ergonomic Evaluation of Recent Developments in Blueberry Harvesting.

” Agronomy, vol. 8, no. 11, 2018, pages. 1-17.

Kramer, Jaclyn. As U.S. consumers develop a preference for year-round blueberries, fresh blueberry supplies increase. ” USDA, 2020. Web.

Organic Farming Systems Increase Anthocyanin and Vitamin C Content of Rabbiteye Blueberry (Vaccinium Ashei Reade 'Tifblue') on Heavy Soil, Panicker, G.K., et al.

” XI International Vaccinium Symposium, 2016, pp. 467-472.

Blueberry Integrated Pest Management: Past Achievements and Future Challenges.

Annual Review of Entomology, volume 64, pages 95-114, 2019.

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Cost Accounting: Managerial Emphasis Get Essay Help

Introduction

Cost management is a strategic management technique that examines the most effective methods for minimizing expenses and maximizing profits inside an organization. It focuses on the impact of current or proposed decisions on the future of an organization; the primary objective of cost management is to assist organizations in making strategic costing, pricing, and selling decisions that help to provide greater customer value at lower costs (Horngren, 2009). The indirect approach satisfies the primary purpose of profit-maximizing corporations, which is to increase shareholder wealth. To effectively manage costs, leaders construct various costing heads that they use to classify, monitor, and regulate the associated expenses; in the production of goods and services, costs can be categorized as direct or indirect (Warren, James and Duchac, 2008).

Various costing approaches

Direct costs are those that are incurred only when the business is in operation, i.e., when services and things are produced. Indirect costs are those that are incurred when the firm is not in operation. For instance, when Nokia Corporation manufactures a certain kind of mobile phone, there are software, handset, direct labor, direct materials, and other direct costs that must be accounted for. The sum of these costs is categorized as direct costs; when determining the price of a product, these costs will be regarded an element of the price. Direct expenses are also known as traceable costs because it is straightforward to determine that they were incurred for the production of a product or service.

Indirect costs are expenses incurred inside a corporation that cannot be immediately related to a plant, product, process, or department; they are expenses that contribute to the smooth functioning of a business; they cannot be attributed to production. There are fixed indirect costs, sunk indirect costs, indirect overhead costs, opportunity costs, and economic costs under the indirect costs framework. Other indirect expenses might be ascribed to the fact that a firm is operating, whereas fixed costs are incurred whether or not the business is operational. Nokia, for instance, must maintain a competent management structure, incur administrative fees, and have invested in assets in order to sustain operations. The costs listed above are essential to the successful operation of the business, but they cannot be traced to a single phone type.

When calculating the costs incurred for individual products, management accountants allocate indirect expenses and assign each cost to a particular product; the final costs incurred are computed as follows:

Total product cost = fixed expenses plus a fraction of indirect expenses

Management accountants must compute the number of items a company must create to pay its costs as well as the number of products required to generate a certain profit. Project managers employ breakeven procedures, which can be estimated using mathematical interpolation and diagrams. The diagram below illustrates how to compute a breakeven point using a graph.

(Don, Mowen, 2006).

Standard costing, activity-based costing, and batch costing are the three most prevalent costing methodologies used by management accountants to establish how costs will be assigned to different goods, departments, or activities within an organization.

Costing techniques

Different companies choose the costing approach that allows successful allocation of expenses based on the nature of their trade and the industry in which they operate; an effective system sets prices that provide the greatest value to clients at the lowest cost. The most reasonable price is not necessarily the cheapest price, but it does represent value for money. Southwest Airlines, for instance, is a low-cost airline company that aims to reduce expenses and improve the efficiency of its services in order to charge relatively low fares; however, other companies in the airline industry still adhere to the conventional airline system in which fares are proportional to the class and comfort of the aircraft (Jiambalvo, 2007). The following are the costing methodologies offered to various businesses:

Costing by lot/Standard costing

Under this method, fixed costs and other indirect expenses are assigned to a certain period of time or unit of production; when the costs are accounted for, they are proportional to the quantity of products produced during that period. Companies whose production of large units takes a specific amount of time are positioned to use this method; for instance, when Airbus manufactures Boeing 780 planes, the management has a production unit; if the fixed costs used to make two planes are $50 million and direct costs used per plane are $45 million, then when calculating the cost of an aeroplane, $25 plus $45 equals $70. (Bragg, 2001).

Activity-based cost accounting

According to the system, the costs associated with a particular product are computed by adding the expenses of all activities incurred during the manufacturing of the commodity. According to the system, every cost that can be related to particular sections, departments, or activities is regarded as a cost of the items (Carter, 2005). When the costs are incurred for the benefit of the entire firm, there may be a greater proportion of costs linked to the performance of laptops than phones. The notion behind activity-based costing is that the corporation will credit expenditures related with laptops to laptops and those associated with phones to phones. The method is superior because it does not presume that the cost is universal and, hence, should be assigned to all products at the same rate (Jawahar, 2008). (Please refer to Appendix 2 for a comparison between ABC and conventional costing)

The significance of employing a suitable costing approach

Depending on the nature of their trade, different sectors require the use of different costing methods; despite these differences, the most essential criterion to evaluate is if the approach used offers value to customers and leads to overall cost-effectiveness in a company. Costing strategies are utilized to regulate, monitor, and assign expenses to various departments, products, and activities inside an organization. When managed well, an organization is able to identify cost-ineffective areas and establish methods to remedy them (Weygandt, Kimmel and Kieso, 2009).

Example of adopted costing approach using batch costing

In this section, the article will provide an example of how Airbus assigns costs to distinct goods; in this case, we will examine the production of Boeing 780s manufactured in three-batch runs:

Consequently, the following are fixed costs:

Costs that do not correspond to production and continue to exist as long as a business continues are fixed costs. Among these are license fees, rent, management salary, and security charges. When estimating the cost of an item, they are distributed among all of the manufactured items to determine the specific cost. The following are the project's fixed expenditures (in millions of dollars):

administrative expenses = $20 Rent for a factory equals $20 Attorney fees and licenses equal $80 Utilities = $20 Insurance = $30 Payroll salaries= 100

The total fixed costs to produce three Boeing 780s amount to $270 million.

The following are the variable costs that will be incurred (for each plane):

Costs for direct labor, professional fees, and incidental expenses equal $400. Materials cost = $500 Transport expenses equal $100

The plane has total variable costs of $1 billion.

When estimating the cost associated with the construction of the airplane, the following formula will be utilized:

(Total expenses/3) + Total variable costs = $270/3+ $1000 = $1,070 Million.

(2006) Maher, Stickney, and Roman

Costing demonstration utilizing activity-based costing

In this instance, the paper will demonstrate how costs will be allocated to both Samsung laptops and mobile phones:

Assume the following expenditures:

Phones Laptops

$200 Variable expenditures $20 Research expenses total $100 Labour costs $200 Transport cost $10

Assuming that the usage on research expenses, labor costs, and transport costs can be divided in proportions of 2:8, 4:6, and 5:5 for mobile phones and laptops, respectively, the cost of the items will be as follows:

Phone: ($20+2/10*100 + 4/10*200 + 5/10*10) = $125

Laptops: ($200+8/10*100+6/10*200+5/10*10) = $405

(Please refer to Appendix 1 for a breakdown of the stages of cost allocation using cost heads.)

Demonstrate how this data is gathered, analyzed, and presented for management accounting objectives.

There are several sources of costing information, which can typically be categorized as internal sources and external sources; under internal sources, consideration is given to the organization's historical experiences and performances. This information can be obtained from routine reports, production reports, and stock movement sheets. Once the information has been recorded, management can utilize the ideal situation or standard costs to make costing decisions (Jiambalvo, 2007).

External sources of information include both government and non-government organizations that provide management with data on a specific area of interest. Integrity is the most crucial consideration when considering external sources of information; external information should be evaluated for the same (Ray. Eric, and Brewer, 2009)

Conclusion

It is the responsibility of management to implement policies that result in successful cost management inside their organizations; the costing approach employed by a business differs according to its trade, industry, economic, social, and political environment. The most important factor for managers to evaluate is how well costs are covered by generated goods or services. The objective of an effective cost management strategy is to maximize earnings, enhance customer happiness, and reduce operational expenses.

References

Bragg, M. (2001). Cost accounting: a thorough guide. John Wiley & Sons, New York.

Cost Accounting was published in New Jersey by Cengage Learning in 2005.

R. Don and M. Mowen (2006). Cengage Learning, New Jersey, Managerial Accounting.

Horngren, T. (2009). Cost accounting with an emphasis on management. The publisher Pearson Prentice Hall.

Jawahar, L. (2008). New Jersey: Tata McGraw-Hill Education, Cost Accounting.

Jiambalvo, J. (2007). Managerial Accounting, John Wiley & Sons, New York.

Maher, P. Stickney, and L. Roman (2006). An introduction to managerial accounting ideas, methodologies, and applications. The New Jersey-based Cengage Learning.

Ray, H., Eric, W., Brewer, P. (2009). Managerial Accounting, McGraw-Hill/Irwin, London.

Warren, C., M. James, and J. Duchac (2008). Cengage Learning, New Jersey, Managerial Accounting.

Weygandt, J., Kimmel, P. and Kieso, D. (2009). Tools for Managerial Accounting and Business Decision Making. John Wiley & Sons, New York.

Appendixes

Appendix 1: allocation of costs on a cost pool basis

Comparison between Activity-Based Costing and Conventional Costing Methods

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