Impact Of Sustainability On Corporate Financial Performance Writing An Essay Help

Long ago, profit maximization was regarded as the primary management objective. However, it did not allow for the corporation's economic potential to be utilized to its fullest extent since, in their pursuit of short-term profit, officials did not consider future growth opportunities. As the market's economic climate shifted and the theory and practice of financial management evolved, the list of local objectives was revised. In order to fulfill the Sustainable Development Goals (SDGs) set in the 2030 Agenda for Sustainable Development (adopted at the UN Summit in September 2015), businesses and financial markets play a crucial role in guaranteeing responsible funding. A global movement for a sustainable economy is gaining momentum, with the goal of incorporating the concept and concepts of sustainable development into strategy, management systems, and current business practices, such as financial management and organizational performance assessment. Particularly as a result of financial market incentives, the move to sustainable investment might become a lasting pattern.

Definition and Types of Financial Management Sustainability

Long-term social goals — sustainable growth of the economy and society as a whole — are becoming a priority in the modern world as a response to the problems of the new industrial revolution. All of this necessitates the development of an economic model capable of ensuring that such objectives take precedence over short-term economic gains. In order to receive finance, it becomes advantageous for businesses to report on a broader range of criteria, including ESG. In 2011, just 20% of S&P 500 corporations reported on ESG metrics; in 2015, that number jumped to 81%. (Kopnina & Blewitt, 2018). In addition, nonfinancial reporting is becoming the norm as a result of legislative regulation.

Researchers have observed a dramatic surge in institutional investors' interest in climate change and sustainable development-related investments. Some of these investors are beginning to avoid companies whose operations pose a threat to the environment (Maletic et al., 2015; Zein et al., 2020). There is a direct and statistically significant association between the financial performance and sustainability performance of businesses (Aggarwal, 2013). Throughout its evolution, the notion of sustainability, which originated from a set of broad principles and principles advocated for the sustainable and long-term development of humanity, has reached a list of indicators for the corporate sector and behavioral advice for individuals.

Corporate sustainable development is a novel notion of corporate social responsibility that integrates the social, economic, and environmental elements of company. Companies view participation in activities that promote sustainable development and are consistent with sustainable development principles as a source of competitive advantage (Kopnina & Blewitt, 2018). The incorporation of corporate sustainable development principles into a company's operations may have a positive effect on profitability by raising revenues or decreasing expenses (Yu & Zhao, 2015). The majority of academics concur that organizations' initiatives in the sphere of sustainable development positively affect their market value and financial performance. In addition, empirical research confirms the favorable influence of corporate sustainability indicators on the market capitalization of publicly traded companies (Kopnina & Blewitt, 2018). Indicators of corporate sustainability quantify the extent to which a firm considers economic, environmental, social, and corporate governance aspects in its operations, as well as the influence these variables eventually have on the company and society (Alshehhi et al., 2018). It is represented in the formulation and implementation of an integrated system of goals, encompassing qualitative and quantitative social, economic, and environmental indicators.

Describe a Business Engaged in Sustainability-Related Activities.

When the Dubai Investment Corporation announced the formation of Emirates Group in 1985, few regarded this as the beginning of a new era in the aviation business. However, Emirates managed to expand its footprint to 63 nations and six continents, as well as becoming one of the United Arab Emirates' most prominent "ambassadors" of reputation (de Mestral et al., 2018). A unique approach to management, innovation, and customer emphasis enabled a swift launch. At the height of the Gulf military conflict in 1991, Emirates was the only airline to continue flying in the Middle East, displaying the incorporation of crucial principles of sustainability and responsibility.

Emirates is distinguished by its highly effective communications management. This company was better able than any of its competitors to utilize the influence of a third party to publicize its activities and grow its market presence. Utilizing a leading strategy in the introduction of new technologies and expansion of service offerings, the company garnered the attention of all major media outlets, industry representatives, and opinion leaders. In 2014, Emirates was named the "World's Most Valuable Aircraft Brand" (Emirates, 2020). The lack of significant events and resonant controversies throughout the company's history has made Emirates one of the most esteemed airlines worldwide. Numerous awards and positive reviews are frequently correlated with a successful personnel policy and strong staff performance criteria. More than 57 thousand individuals are employed by the Emirates group of companies. The company offers equal employment prospects for men and women, which is uncommon in the region covered.

Emirates' pricing policy is atypical, as the firm does not strive to offer minimal costs for its services, as do, for instance, the majority of low-cost airlines. The objective of the Arab airline is to give the best degree of comfort and luxury at all pricing points (in the first, business, and economy classes). The corporation provides all guests, without exception, with high-quality meals, free Wi-Fi, a sophisticated entertainment system, and a comfortable stay on board, thereby encouraging nondiscrimination and equal opportunity.

Effect of Sustainability Activities on Corporate Performance

Most influential on the company’s conduct are the desires to control expenses, retain important workers, and establish a solid reputation in the marketplace. In addition, the company believes that by boosting the eco-friendliness of its products, it will be able to minimize expenses and increase financial performance. The company evaluates its activities and level of sustainability based on eight criteria: quality of management, quality of products and services, innovativeness, size of long-term investments, financial stability, ability to attract and retain talented specialists, social responsibility toward the community and environment, and prudent use of corporate assets.

Emirates has shown profitable performance for the past 22 years in a row. After the 2008-2009 financial crisis, the company was able to quickly restore the status quo due to its strong reputation. Today, open data is accessible regarding Emirates' compliance with its tax, dividend, and other payment obligations. Each year, the government of Dubai receives at least $100 million in dividends from the corporation. The entire amount of dividends paid annually by Emirates exceeds $700 million (de Mestral et al., 2018).

Emirates has also displayed robust corporate citizenship activity. Supporting local communities and charitable projects in nations where the corporation is the leading carrier is a different area of operation (India, Pakistan, etc.). By utilizing a modern fleet, the company was able to reduce its emissions to less than 4 liters per 100 passenger-kilometers, which is 16.6% fewer than the industry average (de Mestral et al., 2018). One of the primary citizenship goals of Emirates has been to promote a positive image of Dubai outside of the Middle East and the country. In contrast to the political and economic volatility of other states in the region, the United Arab Emirates and Dubai continue to be an oasis of stability, growth, and sustainable development. In 2020, 20 million tourists are estimated to visit Dubai, generating $ 82 billion annually for the city (Emirates, 2020). Emirates has a role in attaining this objective. The excellent performance and future success of the Dubai flagship airline are strongly tied to the announced values and their effective implementation.

Emirates has made the decision to restrict the usage of throwaway plastic goods on all of its planes. The airline has introduced paper straws that will soon replace their plastic counterparts on all Emirates routes. Emirates has implemented numerous waste management efforts onboard its aircraft, and the personnel is continually assessing and suggesting new green projects. As part of a long-term plan and at the request of a crew member, personnel carry huge plastic bottles gathered on board to Dubai and other places across the globe for processing. It is anticipated that this will prevent the disposal of 3 tons or around 150 thousand plastic bottles every month in Dubai landfills (de Mestral et al., 2018). These programs are an integral component of the carrier's ongoing efforts to promote sustainable development.

Not only do these programs promote customer loyalty for the airline in question, but they also reflect best practices for other airlines, especially those outside the UAE. Clearly, the organization is distinguished by its pursuit of ESG ideals. Nonetheless, it lacks integrated reporting, depriving itself of numerous chances to increase its investment appeal to institutional investors. In the meantime, the inception of integrated reporting demonstrates the quick development and global relevance of this new innovative approach to corporate reporting. The company’s shift to reporting according to the triple criterion (economic, social, and ecological) increases its transparency, which, according to the theory of corporate finance, ought to result in a decrease in capital costs (Idowu & Del Baldo, 2019). Non-financial reporting demonstrates how the company’s mission, vision, and strategic objectives are achieved through its socially responsible actions. Non-financial reporting promotes the company's image, reputation, and brand recognition among all segments of society. Due to the fact that a company's reputation is comprised of intangible assets such as trust, reliability, quality, transparency, and customer relations, as well as tangible assets in the form of investments in human capital and the environment, the rejection of non-financial reporting can have a negative impact on the company's value, despite the availability of excellent sustainability practices. Thus, Emirates airline's deployment of integrated reporting is strongly encouraged.

Conclusion

Today, sustainable development is increasingly integrated into the corporate strategy and culture of businesses, showing itself in activities designed to ensure the company's effectiveness while minimizing its negative social and environmental impacts. Consequently, integrated reporting helps the organization to demonstrate to all its stakeholders how it creates value, thereby ensuring its short-, medium-, and long-term sustainability. Thus, sustainable development helps enhance relationships with stakeholders while allowing them to receive economic benefits from decreasing costs (loss from spoilage, legal fees, costs of raising money, etc.) and/or improving margins by building an image for premium segment items. A greater level of sustainability improves financial performance. Compliance with the requirements of stakeholders enhances financial performance. Failure to meet the implicit needs of stakeholders can result in a bad perception of the company's image, which increases the risk premium and has a detrimental impact on financial outcomes. In actuality, the benefits of social and environmental responsibility outweigh its maintenance expenses.

References

Aggarwal, O. (2013). The influence of sustainability reporting on corporate financial performance. Indian Journal of Commerce and Management Studies, volume IV, number 3, pages 51-59.

Alshehhi, A., Nobanee, H., & Khare, N. (2018). The impact of sustainability strategies on business financial performance: trends in the literature and opportunities for further study Sustainability, 10, 1-25.

de Mestral, A., Fitzgerald, P., & Ahmad, T. (2018). International aviation, sustainable development, and treaty implementation. Presses of Cambridge University

Emirates (2020). Environmental responsibility in operations. Web.

Idowu, S. O., & Del Baldo, M. (2019). The origins and viewpoints of integrated reporting for organizations and stakeholders. Springer.

Kopnina, H., & Blewitt, J. (2018). Sustainable enterprise. Routledge.

Maletic, M., Maletic, D., Dahlgaard, J., Dahlgaard-Park, S., & Gomiscek, B. (2015). An empirical evaluation of the effect of sustainability-oriented innovation methods on overall organizational performance. 27(9-10):1171-1190. Total Quality Management and Business Excellence.

Yu, M., & Zhao, R. (2015). Sustainability and company valuation: A global analysis. International Journal of Accounting and Information Management, vol. 23, pp. 289-307

Zein, S., Consolacion-Segura, C., & Huertas-Garci, R. (2020). The role of sustainability in the banking sector's brand equity value. Sustainability, 12, 1-19.

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Training And Development: Fastlab Case Study Writing An Essay Help

Gerard Heineken founded Heineken N.V. in Amsterdam, Holland, in 1864. Heineken N.V. is a brewing corporation with a global presence in several regions (Heineken). With over 165 breweries manufacturing over 300 brands of speciality beers and ciders, the corporation operates in 190 countries in Africa, the Middle East, Europe, the Americas, and Asia-Pacific (Heineken). Heineken employs 85,000 people worldwide, and this number is anticipated to rise in the future years as the company expands abroad.

The company's leadership is comprised of seasoned executives with various backgrounds and unparalleled competence in their respective major operation areas. Since 2005, Jean-Francois van Boxmeer has served as chief executive officer (Heineken). It is the responsibility of the Executive Board, which is appointed at the annual general meeting, to manage the company's business. This board consists of the current CEO as chairman and the company's CFO, Laurence Debroux.

The Executive Team consists of eight people, including four regional presidents, two members of the Executive Board, and four Chief Officers (Heineken). Two Executive Directors and 10 Supervisory Board members complete the company's leadership structure. The objective of Heineken is to become a proud, independent, worldwide brewer intent on surprise and thrilling its consumers. Its objective is for the Heineken brand to dominate all markets.

Analysis

SWOT Analysis

Strengths Weaknesses

Solid financial standing Extensive asset base Solid distribution system with outlets in 190 nations Low cost structure — permits low product pricing. diversified products with more than 300 brands Trademarks and patents are forms of intellectual property. Strategic alliances with wholesalers, manufacturers, and other stakeholders Mergers and acquisitions

Reduced expenditures on research and development High day sales inventory – adds unjustified costs to the business Lack of labor diversity insufficient market research Decision-making influenced by family (it is a family business) High staff turnover Low current asset to current liability ratios Extreme centralization of decision-making Poor margins monetary fluctuation

Opportunities and dangers

E-commerce – the corporation could increase revenues by capitalizing on the Internet's expansion. Using social media to build brand awareness Expanding beer and cider market in underdeveloped nations Technology can be utilized to streamline operations. Emerging specialized markets Government assistance for environmentally responsible products

Example: combination of Anheuser-Busch and Sab Miller High supplier bargaining strength New entrants Political uncertainties International interest rate fluctuations Altering client preferences Regulatory shifts in international marketplaces The availability of alternative products

PESTEL Analysis

Political variables

As a global brand, Heineken is subject to varying tax laws in each country in which it operates. Governments in emerging nations promote and support foreign investment. Different nations have stringent sales and advertising restrictions on alcoholic beverages.

Economic factors

The beer sector is crowded with large companies claiming a substantial market share. The prospect of new competitors Unbalanced demand and supply in various nations Strong competition from industry participants threat of economic downturn

Social aspects

Religious opposition to drinking alcohol Alcohol intake is related with health risks Human capital development is required in various nations. Trainings should be conducted to boost resource knowledge.

Technological variables

Technological innovation to optimize operations The chance to optimize the brewing process through technological advancement Utilizing technology to reduce expenses of operation and distribution

Environmental factors

The requirement to implement environmentally responsible corporate practices The need to safeguard the environment

Legal factors

Intellectual property rights must be legally protected. Contractual arrangements differ from nation to nation. Legal aspects of campaigns against excessive drinking, drunk driving, and drinking age limits Increased alcohol taxes to discourage consumption

Recommendations

Heineken should consider the multiple proposals to increase its market share and maintain its worldwide competitiveness. It should use the Internet to accelerate its e-commerce presence and social media to build brand recognition in both established and growing regions. In addition, it should extend its market share in various regions of the world through mergers and acquisitions. In addition to utilizing innovation to make eco-friendly products to attract environmentally conscious consumers, the company should manufacture nutritious beverages to appeal to the niche market of health-conscious consumers.

To increase competitiveness, the company must build on its robust distribution network to outcompete new entrants and major brands and employ technology and innovation to cut production costs, resulting in cheap product prices. Additionally, it must engage in research and development and market research, and provide incentives and other perks to lower turnover rates. Implementing these ideas will allow the organization to accomplish its mission goals.

Conclusion

Heineken is an established beer and cider brand that has been in existence since 1864, when it was founded in Amsterdam, the Netherlands. Under the supervision of its current CEO, Jean-Francois van Boxmeer, the company has a presence in more than 170 countries and produces over 300 brands of specialty beers and ciders. At the top of its leadership structure is an Executive Board, followed by an eight-member Executive Team.

Executive Directors and a ten-member Supervisory Board round out the company's executive structure. This article discusses Heineken's numerous strengths, flaws, opportunities, and dangers. In addition, the PESTEL analysis illustrates the numerous political, economic, social, technological, environmental, and legal variables that influence the worldwide operations of the company.

Notes cited

Heineken is the most international brewer in the world. Heineken Company, 2020. Web.

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Action Research Design For Solving A Business Problem Writing An Essay Help

Action research (AR) design entails both the collecting and interpretation of data, as well as the execution of specific initiatives, in order to solve practitioner problems. These activities are aimed at resolving a particular issue, enhancing a process, or fixing a shortcoming. AR adheres to the pattern of plan-act-reflect, which is repeated several times, to focus on sound and feasible discoveries. AR, according to Coates (2005), encourages practitioners to examine their professional activity and generate their own questions. In addition, it includes strategies for enhancing "people's behavior and worldviews" (Marshall et al., 2017, p. 98). By connecting the research process to the action, a big difference is made.

Action research in the business sector can be implemented using a number of distinct models. They consist of the PhD model, the DBA model, the Figure of Eight Framework, the Dialectical Soft Systems Framework, and the use of grounded theory as an AR tool (Sankaran & Hou, 2003). The ultimate objective of such study is to evaluate, develop, and improve one's entrepreneurial activity. Through an action research project, the following research is based on a complicated organizational transformation endeavor encountered by a family-owned business in the food industry.

Explanation of the Issue

The organizational transformation inside a complicated company complex is a significant challenge that necessitates a more thorough theoretical understanding. Exploring the potential interactions between individual and multiple perceptions of leadership at the top of management may be the central concern. Transformational leadership incorporates a corporate culture designed to instill a vision that motivates the leader's followers to outperform their individual performance and, as a result, act in the collective interest. The action research focuses on the change of leadership by presenting insights addressing key stakeholders, actions, and behaviors. This business study is guided by the following research question: Does organizational change, along with its numerous stages, impact individual and plural leadership, as well as the application of various transformation driving forces?

In addition, the research investigates the process of organizational change in terms of leadership and documents the dynamics of engaging a non-relative CEO. Family-owned businesses involve the crucial issue of business and family interactions, which may determine certain organizational characteristics and development, particularly in regards to the relationships between family and non-family staff. Consequently, the following research is undertaken within the framework of a family firm to assess the nature of employee interactions, managerial positions, and strategic decisions. Consequently, the development of a successful transformative plan and study may necessitate the dynamic management of multiple major subjects.

Plan for the Proposed Action Research Project

Before the research project, a well-developed plan is necessary for the successful implementation of action research. The plan should specify the general strategy for conducting the suggested research given its iterative nature. According to Adams et al. (2014), action research is intimately related with policy design and implementation. Involving qualified researchers in the process entails the monitoring and possible evaluation of the AR's impacts, hence the name evaluative research. Action research is deemed suited for change circumstances since it attempts to lead the change and, hence, establishes the change as its final objective (Fig. 1). First, the overall AR project should be founded on high-quality collaboration relationships, such as the formation of a team of company researchers and practitioners. The research focuses primarily on creativity and organizational transformation in family-owned businesses.

The AR strategy focuses on the organizational transformation process and leadership indicators in order to promote research findings applicable to future company plans. Following the principles of Dick (2014), the action research plan should be created in accordance with the following phases of the change process:

Entry and contracting, diagnosis, treatment, evaluation, and finalization.

Consequently, the following actions should be considered for the action research project aimed at the organizational transformation process within the context of leadership. Before entering the client's system, one must negotiate their role and the researcher's role. Then, they agree on determining the transformation-required area of interest. The last phases entail corrective action and withdrawal from the system. Each action research cycle must incorporate the transitional phase of evaluation.

The primary objective of the research team's inquiry process is to create the research process, including continuing meetings, the collaborative construction of data gathering tools, and the communal analysis of collected data. In addition, the chief executive, family members who operate the business, senior managers, middle managers, as well as practitioners and specialists, must be involved in this AR initiative. The long-term plan encompasses the major measures surrounding the identified problem of the family-owned firm and the transformative change of the organization. Significant net losses may be the driving force behind the family-owned business's decision to hire an outside CEO. The proposed actions cover the earliest stages of the organization's transformation process. After that, the research cooperation and empirical inquiry commence. After the final phase of metamorphosis, the research concludes. The second step entails situating a CEO inside the family succession and conducting additional interviews. The transformation comprises of the beginning phase, the first component of core transformation, the second component of core transformation, and the final phase.

Figure 1. Systemic organizational cultural transformation model. Obtainable from Molineux (2018), Using action research for organizational change: procedures, reflections, and results

Identification of Information Generated by the Proposed Action

The action research methodology assists in assessing needs, documenting inquiry processes, analyzing evidence, and making well-informed decisions that may lead to desired outcomes. According to Ferrance (2000), data collecting is essential for determining the appropriate course of action. In addition, a wide range of sources is used to provide a better knowledge of the scope of activity within the field being analyzed. Using semi-structured interviews, the following study examines data within the context of a larger, long-term action and collaborative research process. Consequently, the data is derived from the responses to the interview questions, which focused on organizational transformation, crucial activities and drivers, stakeholders, and leadership styles.

The data arising from the intended actions should offer accurate information regarding the actions taken, the coordination between leaders and important roles, and the achievement of certain objectives. It is planned to employ the iterative technique to coding in three steps until the researchers establish consensus on the categorization and interpretation of the data. These codes are organized into categories that indicate the relationship between transformation activities and leadership behaviors, such as singular or plural, transactional or transformational behaviors. The received data reveals the repeating patterns of three key leadership indicators relating the phases of the transition.

Evaluating and Reflecting on the Data: Anticipating Next Iteration's Actions

After analysis, the data is shared with the researchers and the CEO in order to arrive at a common interpretation and explanation of the data and to evaluate the findings. The ethical foundation of action research includes "emancipatory values and an inclusive and dynamic worldview" (Molineux, 2018, p. 21). Consequently, such a study methodology adds to genuine collaboration and aids in defining the aims. Consequently, action research, as a method that is both participative and reflective, advances social and business circumstances by creating critical information. During the transformation process for the subsequent research of the family-owned business, three recurring models of leadership were created, taking into account both individual and plural leadership behaviors as well as the relationship with change drivers. The AR data revealed such manifestations as communicating leadership, imagining leadership, and enabling leadership. Actions for the subsequent iteration may study new variables in relation to transformation and leadership integration drives, such as broader settings compared to the family business, corporate culture and vision, and various kinds of leadership.

Conclusion

Understanding the organizational changes and transformational leadership within the business sector is a challenging topic to investigate. This study outlined the action research design and its effective implementation in adopting several transformation drivers to facilitate the organizational transformation of the family-owned business. On the basis of leadership behaviors surrounding transformative business changes, three recurrent leadership indicators were established. By defining the business problem, making the AR plan, analyzing the data, and identifying key stakeholders, this research approach might be applied to future business research scenarios with considerable benefits.

References

Adams, J., Raeside, R., & Khan, H. (2014). Research methodologies for students in the business and social sciences (2nd ed.). Publications by SAGE.

M. Coates (2005). Action research: A guide for adjunct professors. Open Universities.

Dick, B. (2014). Areol is a web-based action research and assessment platform. Areol.

Ferrance, E. (2000). (2000). Themes of action research in education. Brown University's Northeast and Islands Regional Educational Laboratory.

Marshall, J., G. Coleman, and P. Reason (2017). Leadership for sustainability: An strategy based on action research Routledge.

Molineux, J. (2018). Using action research for organizational change: methods, thoughts, and results. Work-Applied Management Journal, 10(1), 19–34.

Sankaran, S., & Hou, T.B. (2003). Models of action research in business research, pages 8 to 12.

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Star Corporation Solutions Business Plan Writing An Essay Help

Goals of the enterprise
Goal 1 is to steadily increase profitability by retaining the organization's basic values and integrity, and by offering business training based on fundamental, time-tested business and HR principles. Goal No. 2 is to achieve high customer satisfaction by providing effective business training in broad and comprehensive training areas utilizing empirically backed materials. Goal No. 3 is to acquire a sizeable market share by addressing diverse market segments and their demands competently, with a particular focus on underserved market segments. Goal 4: to become highly profitable by minimizing expenses and maximizing investment returns. Goal 5 is to establish a pleasant workplace through professional engagement, socializing, diversity, and inclusion, and to encourage employees and other stakeholders to participate in lifelong professional development. Goal 6: To be the finest location to shop by providing superior items and service.

Vital to success

Bring in the best personnel.

Star will recruit the most talented company training and development professionals. It would recruit some of the most prominent trainers from other well-established companies to join its executive team. The strategy would ensure that the organization has a competent staff with the necessary skills and knowledge to manage business operations (Mathis and Jackson, 2011). The HR department shall establish the most effective recruitment, selection, and retention standards. Star shall provide the highest wages and benefits to all of its employees.

Management expertise and aptitude

As its executive team, the new company would recruit seasoned professionals from previous firms. Star believes the strategy would attract seasoned executives, diverse managerial skills, and the industry's top talent.

Consistent satisfaction of client requirements

The organization will meet the expectations of its clients by creating goods and services tailored to the specific training requirements of a certain business. It would provide these services based on client demands, their preferred delivery method, including the Internet, as well as their location, pace, and time. This degree of adaptability in product development and service delivery would increase client satisfaction and experiences, as well as their loyalty.

Industry Background

Companies that offer short courses, seminars for employees, executives, and professional development make up the corporate training and development industry. These organizations provide training via public classes, employee training programs, and specialized, customized, or modified training programs. Some companies provide training in their own facilities, at the locations of their customers, in training institutes, at home, in conference rooms, or via the Internet.

According to IBISWorld, there is no company with a dominant market share in the business training and coaching industry (IBISWorld, 2013). The average growth rate of the industry is 0.2% per year, with $9 billion in yearly revenue. There are 37,514 enterprises in the industry with 64,944 employees.

The forecast for the industry is generally positive due to the rapid evolution of technologies and the necessity for personnel to stay up with these developments and expand their abilities. The majority of businesses provide training in management development, professional development, quality assurance, and business coaching.

Management Structure

The company's management structure is flat. There would be no managers between the sales staff and the executive's assistant. The CEO believes that this method would improve the company's inclusiveness and decision-making process. Trainers must be employed as independent contractors on an as-needed basis.

The function of workers

The chief executive officer would be responsible for managing everyday operations, including financial management and commercial development.

The sales team would be responsible for reaching growth objectives, sales projections, completing business leads, keeping existing accounts, and creating new business possibilities.

Target Markets

Executives of Fortune 500 and mid-sized companies

Star thinks that senior executives from various industries deserve training and skill development, particularly in the areas of emerging technologies, change management, and staff management and organization administration best practices. Consequently, this is an essential market for the organization.

IT businesses

The company will coordinate with IT suppliers to produce training guidelines for various products. This is a lucrative target market due to the industry's ongoing evolution and the necessity to train end-users in the use of new technology.

Public organizations

The public sector is continually recruiting new employees, some of whom may lack the skills necessary to do their duties. Due to the public sector's dedication to a skilled and well-trained personnel, Star will concentrate on this niche market.

Individuals

Additionally, the organization will target those who wish to increase their proficiency in various fields. Training for this target market will be tailored to the specific needs of each individual.

Selling strategies

The organization will utilize personal selling. The chief executive officer and sales staff will engage in personal selling to prospective clients. This would increase interpersonal communication and the formation of solid commercial relationships.

Star would collaborate with local corporate organizations to give seminar training and growth. In addition, it will receive suggestions from local business associations regarding companies that require training.

The organization will compose a few interesting articles about the significance of staff training for local newspapers, periodicals, and training-related websites. This would establish Star as an organization with subject matter expertise.

There would be weekly eNewsletters to remind prospects that Star offers affordable business training and development to various market sectors. The approach for eNewsletters would include case studies and advantages, the launch of new workshops, and numerous means to obtain pertinent information from the organization.

Social media would also serve as marketing and advertising platforms for the company. By participating in the dialogue, this method would allow prospects to become familiar with the company and contribute to the company's products. Successful workshops, training, and seminars would be highlighted by the organization.

There will be free webinars to which the corporation would invite qualified enterprises with training and development skills. The purpose of free webinars is to demonstrate that Star is the industry leader in terms of knowledge, training materials, delivery methods, and excitement. The company will assist businesses in identifying their training needs and will also solicit referrals.

These selling methods would guarantee that Star reaches a 15% market share, is profitable, raises product awareness during the first year, and generates more than $400,000 in revenue.

Control Plan

Customer comments

Using polls and surveys, the organization will monitor consumer feedback in order to gain insights into its products and services from the customers' perspectives.

Target market sales

The corporation will evaluate sales based on earned revenue and profits. Star would analyze actual sales and profitability to its goals and find areas where adjustments are required. If the company falls short of its sales goals, it will do market research to identify why its potential clients do not respond favorably to its products and services (Wheelen and Hunger, 2012).

Budgeting

Budgeting will serve as the company's control plan strategy. This would allow it to control expenses such as operations, payroll, travel, and market research in relation to revenues. The objective is to cut expenses and increase profitability.

Market share

Periodically, the organization will compare the growth in market share to its established goals in order to identify any slow growth. It will employ milestone percentages to determine the market share acquisition.

Financial projections

The company's financial projections are based on fundamental assumptions regarding operating margins, headcounts, income rates, tax rates, cash flows, and contracted services, among others.

salaries and related expenses

The company shall retain a small number of employees and maintain reasonable salaries, benefits, and compensations. Salaries and other expenses will rely on predicted operating conditions, productivity-enhancing company actions, and forecasted wage standards.

Chartered services

The organization will employ trainers on a contract basis. Expenses will vary based on market conditions, but are anticipated to rise at a pace of 1% per year.

Profit-sharing

Due to the form of ownership, there is no profit sharing in the company.

Income taxation

The corporation expects a 13.5% payroll tax and a 9% corporate tax rate. These rates would lower Star's tax burden because the company would concentrate on alternative minimum tax conditions, resulting in low cash tax payments for anticipated financial quarters.

Funds flow

During the forecasted financial seasons, Star anticipates that the business will produce adequate incomes to operate and reinvest surplus funds in revenue-generating businesses. The corporation anticipates a net profit percentage of 0.45% for the first year, 3.01% for the second, and 9.21% for the third. Additionally, the cash balance would be $23,615.01 for the first year, $45,198.75 for the second year, and $130,680.75 for the third year.

Financial statement

The company's liabilities are not excessive. In addition, it is able to settle all of its obligations within the anticipated financial periods.

Others

Additionally, the organization will incur expenses for electricity, communications, professional fees, third-party suggestions, stationery, and regular office supplies (Tjia, 2009).

Financial position

At the end of the first year, Star's financial condition would be sound. For example, it will have a cash balance of $23,615.01 and a net cash flow of $-21,384.99, along with operational expenses of $580,500 and cash sales of $580,500.

References

IBISGlobal (2013). Business Coaching in the United States: A Market Research Study.

Mathis, L. R., and H. J. Jackson (2011). Human Resource Administration (13th ed.). South-Western Cengage Learning, Mason, Ohio.

Tjia, J. (2009). Building Financial Models (2nd ed.). Manhattan: McGraw-Hill

Wheelen, T., and Hunger, D. (2012). Toward global sustainability: strategic management and business policy (13th ed.). Pearson Education is based in New York City.

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DPWN Company: Case Study Writing An Essay Help

DPWN is a renowned German-based logistics company. The British market offers numerous prospects for expansion and growth. Marketing systems in the United Kingdom include channels of distribution that coordinate the activities of wholesalers, retailers, and manufacturers, as well as physical distribution activities that result from the integration of warehousing, storage, transportation, handling, and inventory activities (Drejer, 2002).

Entities or activities qualify as a system if they can be comprehended as a unified whole rather than as a collection of components. This conceptual breakthrough has resulted in the emergence of new disciplines including industrial dynamics and systems engineering (Bearden et al 2004).

Considering Porter's value chain, it is conceivable to assert that the organization adheres to this model and implements IT solutions at all phases. DPWN brings IT support to logistics. With a robust subcontractor network for IT support, solid industry experience, and a steep learning curve, as well as the assistance of Porter's Five Forces, DPWN is able to evaluate its environment and respond effectively to changes and market fluctuations. Entry, the power of input providers, the power of purchasers, industry competition, and alternatives and complements make up the five forces (Drejer, 2002).

For DPWN, a change in an internal lever results in a dynamic chain reaction including an extensive series of occurrences. It assists managers in differentiating between market and nonmarket variables within environmental and choice variables, particularly in institutions whose strategy formulation involves elements of political economy and administrative law.

In the United Kingdom, entrance barriers are minimal since the government supports alternative energy projects and invests in their development and construction. DPWN is not significantly affected by the influence of its input suppliers because it controls all manufacturing processes and phases of product development. The purchasing power of customers influences the market's profitability and competitive standing. On a worldwide scale, legislative requirements and developments increase the number of companies offering identical items, hence intensifying industry competition.

Substitute items have a significant effect on DPWN's sales. Thus, the organization offers exclusive cutting-edge solutions for remote geographical locations and sparsely populated places. Frequently, the complete set of potential consequences is unclear and impossible to predict. In addition, if managers oversimplify the interrelationships involved, they end up disregarding the cumulative impacts of such chain reactions entirely.

In contrast, by combining environmental and decision scenarios computed along the interrelationship paths connecting internal and external variables, a firm will adjust its sales force, supplies and distribution, equipment, and facilities to match the scale of its production based on the anticipated sales volume (Bearden et al 2004).

The case study demonstrates that cost leadership is supported by fundamental business processes that cultivate ideas, transform them into products, and sell them effectively (Drejer, 2002). Cost-effectiveness enables DPWN to appeal to a vast audience and maintain market competitiveness. “ Utilizing the expertise of its parent firm, it devised a strategy for operational excellence that enabled it to surpass the incumbent in collection operational procedures.

Thus, it was able to exploit the incumbent's inexperience with sorting, delivery, and meeting client needs (Deutsche Post World Net 2006, p. 11).

Cohesive and consistent actions by its marketing, staff, distribution, and purchasing management require a clear vision of the anticipated production scale. Sharing a unified understanding of a company's strategy is a crucial step in coordinating implementation plans and managerial conduct. Vertical integration is more profitable for large companies than for smaller rivals due to the usage of specialized capital equipment.

The success of DPWN is the result of a deliberate transition from a state-owned to a privately owned business. Similar to other large corporations, government agencies and regulations pay particular attention to DPWN. Larger company entities are connected with unwanted economic dominance, monopoly, and lack of competition. Nevertheless, our economy is one of size and scale; we enjoy the benefits of mass-market-oriented mass enterprise.

After privatization, major investments in cutting-edge logistics technology were made to modernize the organization. A high level of automation and standardization contributed to a significant improvement in service quality and efficiency (Deutsche Post World Net 2006, p. 3). This strategy allows DPWN to enter new markets and develop its global operations (Hollensen, 2007).

In order to increase market share, DPWN must create a new product in response to the environmental business change that led the market drop. This transition presents DPWN with new prospects and enables the organization to attain a position of leadership.

Strengths DPWN was able to assume a global leadership position as a result of its strategic transition from a state-owned to a privately-held firm. It has a powerful brand name that generates a global base of devoted supporters. The company's strength is that it is an industry specialist and market leader offering superior products and services. The high price of certain product categories and the high cost structure are weaknesses. On the other side, a high price helps to maintain a unique brand's strong image. There is a risk of ignoring the environment, as consumers and their requirements, competitors, technological advancements, etc. can have a significant impact on a company's competitive success. Since industry must always strive for competitiveness, the industrial sector's specific energy consumption has always demonstrated a clear downward tendency. High prices for certain types of services and an expensive structure are flaws (Hollensen, 2007). On the other side, a high price helps to maintain a unique brand's strong image. There is a risk of ignoring the environment, as consumers and their requirements, competitors, technological advancements, etc. can have a significant impact on a company's competitive success. Since industry must always strive for competitiveness, the industrial sector's specific energy consumption has always demonstrated a clear downward tendency. Possibilities of DPWN include the chance to grow its activity in every country on earth. New technology will provide DPWN with access to new markets. The expanding alternative energy markets in Japan and Europe generate new sales prospects in these nations. In this situation, DPWN will be in a strong position to influence the expectations of other market participants. It will have access to information and influence channels that are unavailable to a large number of other stakeholders. Global competition and entry into new markets with substantial political and economic risk are major dangers. Inflation and low income pose obstacles to profitability and effectiveness. DPWN is threatened by relatively low demand levels and the growth of alternative energy sources such as solar power and hydropower. (Bearden et al 2004).

DPWN's sole strategy for increasing its market share and competing in a new environment was market expansion. “DPWN embarked on a strategy to establish itself on a global scale through acquisitions, investments, and partnership agreements, and has progressively extended its market position by integrating services' (Deutsche Post World Net 2006, p. 3).

Political / Legal Factors: The political climate in Europe is characterized by stability and the democratization of government institutions. Large capital expenditures will be necessary for environmental protection measures regarding coal dust, coal-ash deposits, and waste-gas cleaning, for which technology has not yet solved the difficulties; these procedures tend to restrict the use of coal for large installations. (Hollensen, 2007). Economic Environment The European economy is characterized by stable growth. Indicators of the economy indicate that the European market presents significant prospects for innovative and cutting-edge solution development by companies like DPWN. In Europe, the alternative energy industry is underdeveloped and plays a little role in the economy. Social/Cultural: The greatest strength of European nations is their national cohesion. The European nations depict a culture with a synchronized perspective on time. Despite their enthusiasm in experimentation and change, Europeans dislike direct confrontation and aggressive interpersonal challenges. According to them, disputes should be resolved through open dialogue leading to a settlement, not through coercion. Technological resources/factors The primary opportunity for DPWN's marketing communication is innovation in production technology and the computerized supply chain system. The danger is that investing in new technology necessitates additional funding. Licenses and intellectual property safeguard company activities. Bearden et al 2004).

To boost its market share, DPWN employs an aggressive strategy of acquisition.

These acquisitions enabled Deutsche Post to harness local expertise to establish a robust distribution network across Europe. In 2000, Deutsche Post AG had a successful initial public offering and began operating under the brand1 "Deutsche Post World Net" (Deutsche Post World Net 2006, p. 3).

Corporate executives and financial management adopt a long-term perspective, and a realistic assessment of short-term profits and losses must be produced to facilitate a smooth transition. Similarly, similar estimations and projections must be communicated to senior management and incorporated into business objectives for the next years (Bearden et al 2004).

If these objectives are unreasonable or unduly optimistic, there is always a risk of low morale if they are not achieved. This does not mean, however, that financial goals and milestones should not be established. The uttermost effort must be exerted in order to attain financial goals. Only a long-term commitment to the merger plan and the development of realistic objectives by senior management will guarantee success (Keegan and Green. 2004).

In the initial phase (market introduction), there is no direct competition, as demonstrated by the case of DPWN. The objectives of marketing programs and tactics are initial market acceptance and behavior modification. They are responsible with generating initial product demand, giving customer and consumer intelligence, identifying market segmentation, acquiring market expertise, soliciting channel assistance, and advertising to establish a footing in the market.

The second phase consists of efforts to build markets. During this phase, there is limited direct competition, and potential competitors are becoming aware of the situation. Marketing programs and tactics serve to consolidate and expand market footholds and establish competitive advantage (Kotabe and Helsen 2006). The focus of marketing operations is establishing brand acceptance and fostering customer loyalty. The goal is to create a market niche.

DPWN creates a successful diversification and acquisition strategy that enables the company to enhance its market share and remain competitive in Europe. In order to protect themselves against market swings, many businesses opt to diversify through acquisition. By diversifying into complementary or unrelated business sectors, depending on the company's strategy, DPWN defends itself against adverse market changes and economic turmoil (Mintzberg et al 2004).

A manufacturer of snow skis, for instance, may decide to purchase a manufacturer of water skis in order to offset the seasonal nature of its company. To achieve the same result, it may also seek to diversify into a broader range of athletic goods equipment. In addition, a company in a declining industry may choose that it must transition into an entirely different industry in order to survive. This transfer from one business to another could be accomplished through an acquisition strategy, by bringing in the necessary new talents.

The additional risk associated with acquisition tactics is that they typically demand more capital than mergers or alliances. Acquisitions entail a purchase transaction, necessitating the expenditure of capital, assets, or other types of investment. In many cases, the purchasing business incurs substantial debt to finance the acquisition. As we have seen earlier, the rising popularity of leveraged buyouts to fund acquisitions in the United States has led to dangerous levels of corporate debt (Moore, 2001).

These range from the diversification of the local economy, which is desirable, to the formation of a foundation for future economic development once the quarry activities are done and the quarry is spent. The research analyzed the entire range of the region's terrestrial and marine ecologies (Bearden et al 2004).

Online banking, new payment processing, and retail banking are the primary financial services that help DPWN issue debt. The amount of a company's commitment to a certain corporate strategy must be evaluated and specified. Some industries, such as those with quick growth, will yield immediate results, while others may require a longer period of time for evaluation.

Thus, a company may not need to commit to as long of a time period before deciding whether to continue investing in the acquired company or sell it. Although it may be easier to determine the success or failure of a plan in one industry versus another, these commitment levels must be met. DPWN employs two primary forms of diversification: related diversification for logistics services and unrelated diversification for financial services (Dobson and Starkey, 2004).

The primary strength of DPWN is its acquisition and cooperation strategy in numerous nations across the globe. It has acquisitions, alliances, and collaborations in the United Kingdom, the Netherlands, Poland, and Sweden. Personalities are crucial to the success or failure of any undertaking involving humans.

If a merger has the full backing and support of its employees and management, the likelihood of success is significantly increased. Despite the fact that there are less impediments than in a hostile takeover, winning support and trust is always a challenging task. The marketing responsibilities include ensuring reasonable growth and attempting to preserve a competitive position and market share. Since there are more rivals, market shares have a strong propensity to decline.

During market maturity, downward pressures on prices increase, companies segment markets more, product and package variations are introduced in an effort to retain some growth, and minor product adjustments become crucial. To retain market position, promotional efforts are heavily utilized.

A review of market-opportunity phases and related marketing activities reveals that businesses join marketplaces at various stages of growth (Pittengrew 2006).

Some businesses may be innovators, while others may be low-cost operators focusing on phases four and five. As a result, diverse competitive scenarios confront a firm at any given time, necessitating distinct solutions. The intricacy of establishing marketing campaigns becomes more apparent when one examines the diverse array of corporate products facing different market opportunity stages and the evolution of these markets through time (Dobson and Starkey, 2004).

The important stakeholders (shareholders, management, employees, suppliers, and customers) have a significant impact on the company's strategy by establishing the company's primary challenges and opportunities, cultural shifts, and potential problem resolutions. Management and staff actively participate in decision-making at the internal level of strategy (Dobson and Starkey, 2004).

"The market is characterized by the conservatism of Polish business managers, who are unwilling to invest in direct marketing and prefer traditional campaigns." This cultural trait results in smaller advertising budgets and direct marketing expenses than in other nations (Deutsche Post World Net).

Commercialization Of Organ Transplants Writing An Essay Help

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

Introduction

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

Factors Humane

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

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

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

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

Communication

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

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

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

Organization Culture

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

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

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

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

Discussion and Summary

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

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

References

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

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

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

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

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

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

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

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Professionalism And Engineering Ethics Writing An Essay Help

Companies are responsible for maintaining the health of their employees by strictly adhering to established health standards. Not only is this beneficial for the workers at particular factories, but it also serves to develop the company's corporate social responsibility in terms of safeguarding the health and well-being of its employees. Even though benzene is commonly used in petrochemical and petroleum refining industries, it is still regarded a dangerous carcinogen due to its potential to cause leukemia, anemia, and other forms of myeloma. The purpose of the OSHA benzene exposure regulation is to guarantee that workers who are exposed to situations where benzene exposure is possible are not exposed to such high levels that they may develop health problems in the future (OSHA 70). While the judgement itself encourages higher workplace health standards for employees, it has a fundamental gap that can be exploited by the vast majority of businesses. A recent case in Minnesota illustrates this particular loophole, as the Minnesota district court dismissed a wrongful death complaint filed by a family alleging that their father's death was caused by persistent Benzene exposure. The corporation demonstrated that it met with OSHA laws regarding the acceptable level of Benzene exposure for employees, and as a result, the courts found in its favor. As long as the corporation can demonstrate that it has complied with OSHA standards, there is little that prosecutors can do to establish the company's liability. The issue with the OSHA regulation is that it fails to account for the possibility of significant Time-weighted average limit of Benzene exposure over an extended period of time at a significantly low dose (Tiefer 680). Numerous studies demonstrate the effects of high Benzene concentrations on organisms, but just a few reveal the potential dangers of low-level exposure over an extended period of time. Despite the knowledge that firms may comply with the OSHA Benzene exposure guideline, they continue to expose workers to a proven carcinogen at certain levels. Despite the fact that some studies indicate that the effect is innocuous at such low concentrations, such studies are not conclusive because they do not reveal what could possibly occur over an extended period of time. Ethical theories such as the line drawing approach can be used to establish whether a company's actions fall within a positive paradigm or a negative paradigm in terms of whether or not the acts may be harmful to employees. The situation of the Minnesota family and their father's death is a prime example of what could go wrong with the OSHA Benzene exposure rule, and as such, the rule should be modified to prevent future problems.

Due to the level of skepticism over the safety of Chinese-made goods, it has recently been reported that China's large manufacturing sector has engaged in questionable practices. China has risen dramatically as a manufacturing powerhouse over the past two decades, with Apple, Dell, and HP among the companies that have outsourced their production operations to various Chinese sites. Unfortunately, Chinese production norms are vastly different from those of U.S. corporations, with corporate social responsibility rarely integrated in Chinese manufacturing processes. Consequently, numerous factories expose their employees to nearly multiple times the authorized parts per million dosages of Benzene, Chlorine, Sulfur, and other toxins. Local communities are negatively impacted by poor methods of industrial waste disposal as a result of extensive government corruption. This neglect has resulted in the shipment of contaminated pet food, toys with lead-based paint, and other defective products to the United States, negatively affecting a number of consumers (Thredgold 13). The ethical difficulties that led to this situation originate from the requirement of Chinese manufacturers to maintain low costs in order to remain competitive in the global market. The reason why U.S. corporations outsource to China in the first place is due to the comparatively low cost of labor and the fact that the Chinese government is not as demanding about implementing specific safety precautions as the U.S. government is. Since compliance with U.S.-based regulatory standards adds additional expenses to the manufacturing process, corporations are able to make goods at a substantially lower cost. The ethical theories studied in the course successfully establish the acts of the companies engaged against a moral framework against which their actions may be examined and measured to determine whether they fit within the positive or negative paradigms of the line drawing technique. As a result, it is evident that the corporations' acts are completely unethical and have resulted in the deterioration of their employees' health and the endangerment of their customers' lives due to defective products (Fremlin 1). It is advocated that tougher government controls, such as a Chinese version of OSHA, be implemented to establish a safer working environment for Chinese factory workers and so prevent the creation and distribution of potentially hazardous commodities. In addition, it is suggested that U.S. companies that outsource their production facilities to China ensure that the items produced adhere to the same product safety requirements as several U.S. enterprises, so as to further improve employee safety and guarantee safe manufacturing practices.

Negative paradigm

Negative Perspective – Knowingly accepts an expensive gesture for one's own benefit Positive Perspective – Accepts small gestures to promote stronger relationships.

The cost of gesture is relatively modest (i.e cups, cheap corporate giveaways) The cost of improving relations is split between the two parties (going out for lunch and each paying for their own way) The cost of the present is excessive (worth several hundred dollars) The other side bears the cost of cultivating better ties, which is incurred at an expensive location. Through bribery, the other party gives money with the purpose of obtaining future orders.

Other situations

To discuss current business operations, a representative offers to buy you lunch at a little fast food restaurant as opposed to the most expensive restaurant in the city.

As an alternative to asking you to a company-sponsored party, a supplier sends you a Facebook invitation in order to stay in touch.

Sources Cited

Fremlin, Grace Parke. Contracts drafted with care reduce risk. China Business Review, 35(1):34.EBSCO, 2008.

“OSHA limits exposure to benzene.

EBSCO cites Monthly Labor Review 101.5 (1978): 70.

The name Charles Tiefer. OSHA's Toxics Program Will Be Tested by the Supreme Court. Labor Law Journal, 30.11 (1979), pages 680-688. EBSCO.

Jeff Thredgold, "Made in China," Enterprise/Salt Lake City, 2007: 13 EBSCO.

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Recruitment And Performance Management As Key Elements Of Success Writing An Essay Help

Introduction

Every organization's success depends on its human resource management's capacity to recruit, select, and continuously upgrade the performance of its workforce. When recruiting, selecting, and performing employee evaluations to determine their performance, various principles are involved. All of these concepts and practices are oriented toward ensuring that the recruited personnel assist an organization in achieving its goals.

Marks and Spencer is a British company that specializes in clothes and food sales. Its success with these goods has been attributed to its ability to recruit and retain qualified employees. It is one of the organizations that has developed distinct recruiting, selection, and performance management philosophies and procedures (Appelbaum & Fewster 2002, pp. 66-75). Commitment, planning, action, and evaluation are some of the recruiting and selection tenets utilized by this company.

Alternatively, to ensure that its performance management has been conducted effectively, the company adheres to a number of established principles, such as conducting analysis on methods for enhancing performance management, being specific and conducting performance measurement in accordance with established standards, and delivering positive results.

Marks and Spencer's performance management practices include developing methods to help employees improve their performance, conducting numerous employee appraisals to determine their performance, training managers on how to conduct employee appraisals to determine their performance, and providing feedback on the appraisal results (Appelbaum & Fewster 2002, pp. 76-80). The purpose of this paper is to analyze some of the selection, recruitment, and performance management ideas and practices utilized by this firm.

Principles of selection and recruitment

Commitment

In its selection and recruitment procedure, the board of directors underlines its commitment to the exercise by ensuring that the significance of the procedure has been communicated to the business. This demonstrates the company's dedication to a certain strategic approach in its recruitment and selection procedures. The board of directors recognizes the multiple advantages of hiring personnel with a variety of abilities. Consequently, it underlines the need for recruitment teams to ensure they have chosen personnel with various objectives and experiences (Boselie, Paauwe & Jansen 2001, pp. 1107-1125).

On the other hand, Marks and Spencer ensures that their recruitment procedure is free and fair. This is accomplished by defining policies and rules to be adhered to during the recruitment and selection process. The management requires the recruiting team to provide periodic updates on the technique it is using to determine if it adheres to the stated policies. With this regard, the company has been able to hire qualified and ambitious employees, as the majority of them are eager to engage in the recruitment process because they believe the company ensures a fair procedure.

Planning

Before beginning the recruitment process, the organization ensures that its goals are crystal clear. This assists in determining the type of personnel required. This requires the organization to establish clear staffing goals. Having a comprehensive understanding of its aim objectives enables the organization to establish recruitment and selection priorities. The organization might consider how its various recruitment strategies contribute to its ability to attain its goals. This helps to ensure that all participants are satisfied with the process, even if they are not ultimately chosen.

Actions

Marks and Spencer ensures that staff is recruited and selected in accordance with the defined procedure during its hiring process. This is accomplished by ensuring that the correct individuals are selected for each role inside the organization. To establish if the selection process was free and fair, the organization considers both the recently selected employees and those who were not successful (Brethower 1972, p. 87). This allows the organization to address areas discovered to be in conflict with its targeted recruitment and selection method. Mark and Spencer communicates its recruitment process in advance to guarantee that it hires qualified candidates. All personnel responsible for recruiting and selecting employees within the organization possess the necessary competencies.

Evaluation

Marks and Spencer's Board of Directors appreciates the importance of recruiting and choosing qualified employees (Caligiuri & Stroh 1995, pp. 494-507). The board routinely analyzes its performance and reminds its recruitment team of the significance of conducting a free and fair selection process. The board tells its recruiting team of the benefits it has reaped from its previous recruitment processes, so motivating them to ensure that they perform their recruitment exercise appropriately.

Methods of selection and employment placement

Recruitment practice

Marks and Spencer recognizes that hiring talented employees is crucial to its success. The understands that depending on its recruitment procedure, recruited employees may decide whether to accept the job offer and whether to remain with the company. The inability of firms to develop successful recruitment processes results in excessive staff turnover and low job motivation (Deshopande & Golhar 1994, pp. 45-61).

In such cases, employee performance is low and the majority of staff members are dissatisfied with their organizational tasks. When the company identifies roles that need to be filled or when new responsibilities are created within the organization, the process of recruiting new employees begins. The company determines the personnel structure to be followed. The company guarantees that the job description contains clear information.

This aids in the recruitment of the best qualified candidates for the position. It also ensures that potential candidates are aware of the essential skills and expertise for the position. This is achieved by providing a detailed job description in the adverts. After evaluating the job description and the necessary skills and experience, the recruiting team creates staffing specifications (Harris 2000, pp. 31-46). The specification defines the selection process that will be used by the team to acquire personnel.

Selection method

To guarantee that the organization hires the most suitable candidates, the recruitment team publishes a job description that outlines the necessary skills and qualifications. For a free and fair election, the recruiting staff ensures that every applicant's rights are respected (Huselid, Jackson & Schuler 1997, pp. 171-188). No solicitation is permitted during the selecting process. All applicants must include a curriculum vitae highlighting their talents and experience. After receiving these resumes or curriculum vitae, members of the recruiting team evaluate them to determine which applicants to interview. The selected employees are shortlisted, and the interview date is given in advance so that they may prepare.

The team ensures that the names of all applicants are not disclosed to non-recruitment-related personnel within the business. This is to ensure that these employees do not affect the process (Institute for Corporate Productivity 2007, para. 2-4). Every member of the staff is required to engage in a formal interview as part of the selection procedure. If the number of qualified candidates exceeds the number of available positions, the recruiting team asks the qualified applicants to demonstrate their competence by demonstrating experience in specific tasks related to the positions applied for. There comes a time when the team must conduct a second interview to guarantee that it has selected the most qualified candidate.

After the interview, the team decides which applicants to hire. Applicants are evaluated on the basis of how well they exhibited their experience during the interview. The recruiting staff strives to guarantee that hiring decisions have been decided collectively.

Recommendation

Prior to the actual day of staff selection, the team responsible for staff recruitment and selection within the organization should meet and devise the protocol to be followed when picking personnel from the candidates. This will assist the organization select the most experienced employees, allowing it to achieve its goals more successfully.

The fundamentals of performance management

Marks and Spencer places a high priority on performance management. The corporation conducts monthly performance evaluations to assess if its employees are working towards achieving organizational goals. Marks and Spencer has developed numerous concepts to ensure that it has increased its performance management. These include doing performance enhancement analysis, measuring staff performance, being detailed, and providing staff appraisal feedback (Kloot & Martin 2000, pp. 231-251).

Analysis of performance improvement

Before making adjustments to employee performance, the company's management analyzes employee behavior and its effects on the organization. The analysis may be conducted on a specific job category or various company departments. The analysis allows the company to determine its present performance and compare it to the established benchmarks (McLean 2006, pp. 132-154).

The management is able to determine the potential benefit that could be obtained by enhancing performance, as well as some of the performance adjustments that should be implemented inside the organization based on their benefits to the business. The management then determines the success of the identified performance management approaches in bringing about the desired changes inside the organization.

Being precise

Marks and Spencer's management team ensures that it has effectively communicated the company's intended performance to its employees in order to ensure that its performance management objectives have been met. It establishes quantitative criteria for measuring employee performance. The management has also established occasions to alert them to the necessity for performance adjustments in various departments (Paladino 2007, p. 231).

Failure to effectively communicate, teach, and assist employees in the event of performance management prevents firms from achieving the necessary performance management changes. In order to avoid incidents of ambiguity in bringing changes to performance management, Marks and Spencer's management staff ensures that their training, evaluation of employee performance, and establishment of procedures to be followed in achieving the intended changes are specific.

Offering feed-back

The management team highlights the need of providing feedback on the conducted performance evaluation (Tsang 1998, pp. 87-94). This is to assist the staff in devising remedial methods to guarantee their performance meets organization standards. Information collected through performance evaluation also assists management in determining the necessary measures to enhance employee performance.

Effective performance management techniques

Marks and Spencer's performance management includes employee training and development as one of its methods. After conducting employee performance evaluations, the corporation devises staff training and development programs to help employees match their performance with organizational objectives (Samson & Terziovski 1999, pp. 393-409). The organization routinely evaluates employee performance based on predetermined objectives.

This guarantees that employees consistently work towards accomplishing organizational objectives. This allows the organization to avoid investing extensively in activities that diverge from its goals by identifying changes in advance. The success of performance evaluation is contingent on the managers' knowledge of the performance qualities to be evaluated. Therefore, Marks and Spencer trains its managers on how to conduct performance evaluations. This ensures that managers consider all crucial performance characteristics for the success of the organization. The majority of organizations undertake annual performance reviews.

Consequently, these businesses are unable to recognize performance management issues that may occur throughout the course of their operations. Marks & Spencer ensures that performance reviews are conducted twice per year (Sreenivas & Madar 2007, para. 4-7). This ensures that employees always act in accordance with the organization's goals by keeping them informed of their expected performance. By receiving comments on an evaluation, employees are able to identify areas for improvement. This helps motivate employees since they recognize that the organization recognizes their performance.

Recommendation

The method of performance management within the organization has assisted it in achieving its goals. However, the corporation must frequently provide coaching and training to remind employees of the organization's goals and strategies for accomplishing them. This will aid in ensuring that employees are always informed of the company's expectations.

Conclusion

Marks and Spencer has benefited substantially from the aforementioned principles and methods. By ensuring that it has developed appropriate principles and processes for staff recruitment and selection, the organization has been able to acquire and retain the majority of its skilled employees. This has allowed the company to avoid the costs associated with employee turnover. Performance management strategies have improved staff performance, contributing to the company's increased productivity.

Bibliography

Appelbaum, S. H. & Fewster, B. M., 2002. Global aviation human resource management: modern techniques for recruiting and selection, diversity, and equal opportunity Equal Opportunities International, 21(7), pp. 66-80.

Boselie, P., Paauwe, J. & Jansen, P., 2001. Human resource management and performance: a Dutch perspective. The International Journal of Human Resource Management, volume 12, number 7, pages 1107 to 1125.

D. Brethower, 1972. Behavior Analysis in Business and Industry: A System for Total Performance Kalamazoo, MI: Behaviordelia Press.

Caligiuri, P. M. & Stroh, L. K., 1995. Bringing IHRM to the bottom line: multinational firm management techniques and international human resources practices. The International Journal of Human Resource Management, volume 6, number 3, pages 495 to 507.

Deshopande, S. P. & Golhar, D. Y., 1994. A Comparative Analysis of HRM Practices in Large and Small Manufacturing Companies Small Business Management Journal, 32(3), pp. 45-61.

Issues of fairness in the recruitment process: A case study of local government practice, L. Harris, 2000. Local Government Studies, volume 26, number 1, pages 31-46.

Huselid, M. A., Jackson, S. E. & Schuler, R. S., 1997. Effective technical and strategic human resource management as predictors of corporate performance. Academy of Management Journal, volume 40, number 1, pages 171 to 188.

2007: Institute for Corporate Productivity Principal performance management practices. Web.

Kloot, L., and J. Martin, 2000. Strategic performance management: a balanced approach to local government performance management concerns. 11(2), pages 231-251. Management Accounting Research

National Human Resource Development: A Focused Study in Transitioning Societies in the Developing World, by G. N. McLean. Advances in Developing Human Resources, volume 8, number 3, pages 132-154.

Five basic elements of corporate performance management were outlined by B. Paladino in 2007. John Wiley & Sons, Inc. is headquartered in New Jersey.

Samson, D. & Terziovski, M., 1999. The connection between comprehensive quality management practices and operational effectiveness. 17(4) Journal of Operations Management pages 393-409.

Sreenivas, M., and B. Madar (2007). Web-based principles of performance management.

Tsang, A. H., 1998. A strategic approach to maintenance performance management. 4(2), pp. 87-94, Journal of Quality in Maintenance Engineering.

[supanova question]

Strategies For Managing Workplace Cultural Diversity In International Organizations Writing An Essay Help

Abstract

Depending on the management strategy, cultural diversity in the workplace can be connected with both beneficial and negative effects. Cultural variety is the presence of representatives from several cultures within a given community. On the one hand, the issue is positively associated with originality, innovation, and the capacity to offer a broader range of clients. Conversely, cross-cultural teams may experience difficulties with communicating and attaining harmony, which may result in decreased production and dysfunctional confrontations. On the basis of Hofstede’s cultural aspects and Hall’s theory of communication, the effectiveness of approaches can be determined.

The literature study revealed three evaluation criteria for diversity management techniques. First, a commitment to cultural diversity must be ingrained in the business culture, and the principles must be adaptable so as not to conflict with any cultural beliefs. Second, organizational leaders, notably the chief executive officer, must serve as role models and demonstrate their commitment to diversity values. Thirdly, international companies must change their policies and standards based on Hofstede's cultural aspects and the country in which they operate. Using the three criteria, the article analyzes three international companies, including Amazon, Google, and Toyota. The outcomes demonstrate substantial disagreement between theory and practice, which has negative consequences.

Introduction

Due to globalization, cultural diversity in the workplace is a topic that is widely debated around the world. International firms are by their very nature compelled to interact with people from diverse cultural backgrounds, hence the topic is of increasing significance. On the one hand, the positive benefits of cultural variety include the formation of a vast knowledge base comprised of diverse cultural experiences, the presence of in-house cultural trainers and informers, and the propensity to extend to foreign nations (Martin, 2014). On the other hand, cultural variety may be linked to decreased productivity, difficulties in achieving unity, and dysfunctional disputes (Martin, 2014). The impacts of the issue are heavily dependent on the used method for managing cultural diversity in the workplace.

Diversity in the workplace has become an expected in the contemporary world, although this was not always the case in the United States. In 1948, when President Truman signed an order to desegregate the military forces, the first step toward workplace diversity was taken (The evolution of diversity, 2016). In the 1960s, a series of laws prohibiting discrimination on the basis of race, color, religion, sex, and national origin were passed (The evolution of diversity, 2016).

In 1987, William Brock commissioned a study of economic and demographic trends, which concluded that legal and illegal immigrants would become a larger portion of the US workforce, requiring businesses to implement effective diversity practices in order to remain competitive (“The evolution of diversity,” 2016). Since then, numerous scientific and business studies have been conducted on the subject.

Even though the problem is widely covered in numerous types of literature, it is unclear what approaches international organizations are now employing to handle cultural diversity. The purpose of this study is to provide a summary of current research on the topic and to identify the gap between theory and practice. In order to attain the stated objective, the cultural diversity policies of three multinational firms are assessed and the results are described. Since foreign organizations are most affected by the choice of diversity management strategy, a minor discrepancy with previous research is anticipated.

Cultural Difference

In the context of globalization, the importance of the concept of culture is growing. Numerous fields, including sociology, political science, economics, and marketing, have examined the concept of culture. Bakir, Blodgett, Vitell, and Rose (2014) describe culture as "the collective programming of the mind that distinguishes members of one human group from those of another" (p. 226). Typically, culture include race, ethnicity, language, nationality, religion, and values. Even though the concept is difficult to articulate, the majority of people intuitively comprehend it.

Cultural variety is the presence of representatives from several cultures within a community. It is difficult to stress the value of knowledge about how it should be controlled. Due to the increased number of legal and illegal immigrants in the United States, the majority of businesses are compelled to manage a multinational workforce (Hopkins and Scott, 2016). Corporate leaders are on a never-ending hunt for effective strategies to meet the challenges of managing cross-cultural teams. Contradictions of ideals among representatives of different cultures are the most prevalent issue (Hopkins and Scott, 2016).

Avoiding the issue is not a realistic solution given that firms' pursuit of uniformity is both difficult and illegal in the majority of instances. Hopkins and Scott (2016) assert that for businesses to remain competitive, they must adopt effective techniques for managing cultural diversity. There is fortunately a substantial corpus of knowledge available to guide leaders in this quest.

Literature Review

Importance and Consequences of Cultural Diversity in the Workplace

Before understanding the most effective ways for addressing cultural diversity in the workplace, it is essential to grasp the advantages and disadvantages of cross-cultural teams. According to Lambert (2016), there are clear relationships between workplace diversity and business performance. Particularly, culturally diverse organizations are more likely to be innovative when managers foster creativity. Nonetheless, poorly managed cross-cultural teams have a tendency to fail in problem-solving (Lambert, 2016). In order to maximize the benefits of cultural diversity, managers are recommended to adopt three guiding principles.

These are the ideals of equality and nondiscrimination, access and validity, and integration and education (Lambert, 2016). In other words, managers must provide their employees with every opportunity, regardless of their cultural background, without offending others. Cultural diversity in the workplace is only connected with enhanced innovation when there are policies that foster innovation at every organizational level and every employee is given the opportunity to become a change agent.

However, cultural variety has a greater influence than simply fostering innovation and posing potential problems with problem-solving. According to Ellemers and Rink (2016), cross-cultural teams are able to “serve a broader spectrum of clients, provide a broader selection of products, and have the potential to establish more community credibility.” (p. 49).

However, variety also has significant drawbacks, particularly when there is a distinct cultural majority. In this situation, minority representatives are more likely to feel alienated from the organizational process, which correlates to greater turnover rates (Ellemers & Rink, 2016). Managers may choose to give greater weight to the ideas of cultural minorities; yet, cultural majorities may be dissatisfied by this trend. In addition, cultural diversity is associated with communication difficulties among employees due to differences in values, preferences, and language (Ellemers & Rink, 2016). The authors argue that managers should pick effective tactics in order to reap the indicated benefits and prevent any negative consequences.

Theoretical Structure

When evaluating cultural diversity management solutions, it is essential to determine the conceptual framework. Bakir et al. (2014) examine Hofstede's theory of cultural dimensions to ascertain the validity and dependability of five cultural features in contemporary contexts. Bakir et al. (2014) examine Confucian Dynamism in addition to the four fundamental characteristics of individualism/collectivism (I/C), masculinity/femininity (M/F), uncertainty avoidance (UA), and power distance (PD) (CD). The I/C dimension is characterized by a preference for a loose social structure in a community, in which individuals want to care for themselves and their immediate family.

M/F refers to the rigidity of sex roles in a culture and whether or not women and men have comparable moral and legal rights. UA refers to the degree to which society members feel uneasy in uncertain situations and the absence of rules. CD measures the extent to which a culture values frugality, persistence, ordered relationships, and shame. The researchers administer a questionnaire to seventy graduate students and evaluate their responses to determine the validity and reliability of each factor. Even though the validity and reliability of dimensions varied, they determined that Hofstede's theory remains applicable.

While Hofstede's cultural aspects are useful for comprehending how managers should tackle cultural diversity in the workplace, the paradigm lacks general applicability. Therefore, it would be advantageous to analyze techniques for managing cultural variety from multiple theoretical vantage points. Wood and Wilberger (2015) suggest incorporating Hall's concept of high and low context cultures to enhance management outcomes. Representatives of high context cultures place greater emphasis on how, by whom, and when something is communicated than on what is said, whereas representatives of low context cultures rely on explicit, verbally conveyed communication (Wood & Wilberger, 2015).

In Japan and Saudi Arabia, for example, individuals are less likely to relate to something if it has been expressed by someone without a title, whereas in Switzerland the message is more likely to be received regardless of the speaker's status. The authors argue that it may not be sufficient to have the greatest technology, methods, and human resources to form a successful cross-cultural team. Managers must recognize cultural differences and tailor their approach to the specific requirements of each individual.

Strategies for Managing Diversity in the Workplace

Managers must comprehend and utilize the reality that value systems vary among cultures in order to improve organizational outcomes. Hopkins and Scott (2016) advocate value-based leadership (VBL) as an all-encompassing approach to managing cross-cultural teams. The authors define VBL as "leaders' ability to successfully reconcile the different value systems that culturally diverse employees bring to the workplace and align them with the value system of the organizations where these employees are employed" (p. 363). The authors advocate that managers adhere to the concepts of authentic leadership (being genuine to oneself), ethical leadership (ensuring all employee acts are ethical), and transformational leadership (influencing the moral ideals of employees) (Hopkins & Scott, 2016).

In addition, organizational values should be clearly defined, should not criticize the values of particular cultures, and should be actively supported by managers (Hopkins & Scott, 2016). In addition, the authors assert that the performance of culturally diverse teams improves over time when VBL principles are implemented. However, the authors conclude that there are numerous unresolved concerns with the technique and that further research is required.

Even if VBL appears to be a realistic technique for managing cultural diversity in the workplace, a broader perspective is advantageous. Guillaume, Dawson, Otaye-Ebede, Woods, and West (2017) offer a comprehensive analysis of the factors that attenuate the effects of workplace diversity. The authors identified seven elements, including strategy, leadership, human resource (HR) practices, organizational culture, unit design, climate, and individual variations, that influence the performance of cross-cultural teams. The strategy must define diversity-related objectives, whereas leadership must advocate for diversity, foster positive outgroup relations, stimulate information elaboration, and foster team reflexivity.

It is suggested that HR managers develop relational coordination, information processing, and decision-making skills through training, evaluations, awards, and promotions. The organizational culture should permit all employees, regardless of background, to identify themselves, and unit design should include defined role objectives and a valid, stable, and verifiable status structure. Additionally, individual diversity are to be valued and varied perspectives are to be communicated. The article makes specific comparisons between the tactics and their consequences.

The adoption of workplace diversity initiatives is mainly dependent on the actions and attitudes of the chief executive officer. While CEOs make decisions, establish corporate agendas, and assign the necessary resources for the completion of various projects, they frequently play a minor part in the actual execution of the strategy. The pro-diversity attitudes and moral values of CEOs are positively connected with their pro-diversity actions, according to Ng and Sears (2018).

Such acts lead HR managers to believe their CEOs are devoted to diversity, hence increasing their adherence to pro-diversity practices (Ng & Sears, 2018). In other words, even while CEOs do not directly implement the designed solutions, they can influence the situation by demonstrating their commitment to diversity in the workplace. The adherence to the practice will inspire the HR managers and enhance the CEO's reputation. In order for a diversity management strategy to be effective, CEOs must demonstrate and convey their values to HR managers and other employees.

Sharma (2016) examines four methods for managing workplace diversity, namely performance appraisal, sociocultural, affirmative action, and capabilities approaches. Cultural, racial, and sexual minorities frequently argue that performance evaluations are unjust. In order to eliminate prejudice, Sharma (2016) proposes that when evaluating employee performance, organizations should evaluate several factors, give multiple raters, and systematically analyze the evaluation.

The socio-cultural approach proposes that managers should recognize the religion, societal attitudes, and paternal leadership of their workforce. The affirmative action model takes the attitudes of managers in decentralized units and the goals and deadlines model into account. Lastly, the capabilities approach supports the notion that businesses must occasionally restructure in order to utilize the inner capabilities of their personnel. While the paper strives to provide comprehensive information on the topic, the conclusions are of little help to managers. The single practical idea involves the organization of employee performance evaluations.

Godiwalla and Bronson (2016) explore the significance of diversity management in enhancing supply chain performance in international enterprises. The authors use Hofstede's model to provide specific recommendations for multinational corporations. Godiwalla and Bronson (2016), unlike Bakir et al. (2014), identify six cultural variables, including short or long term time orientation (TO). (Godiwalla & Bronson, 2016) The authors compiled six helpful suggestions, which are detailed below:

For cultures with a large proportion of PD, managers should employ approaches that adhere to the norms, practices, regulations, and laws, and fulfill the moral requirements of leaders. For individualistic cultures, power should be dispersed, whereas in collectivistic cultures, local authorities should have less autonomy in making decisions. For cultures with a high UA, policies should assure job stability and offer specific parameters for each work role, whereas cultures with a low UA demand greater freedom and opportunity. In environments with a high level of masculinity, compensation, career possibilities, and skill development should be the primary motivators for employees. Strong interpersonal relationships must be encouraged for long-term TO cultures. For CD-oriented cultures, the emphasis should be on “the continuance of stable order that will come about with regard and respect to elders, experienced superiors, or people in positions of greater authority (Godiwalla & Bronson, 2016, p. 374).

Summary

Globalization has made CEOs aware that managing cultural diversity is essential for all types of organizations. Depending on accepted techniques, workplace cultural diversity can have both beneficial and negative effects. On the one hand, cultural diversity is correlated with higher inventiveness and originality (Lambert, 2016). In addition, Ellemers and Rink (2016) assert that cross-cultural teams can offer a broader range of consumers since they are able to comprehend the needs of other cultures. Conversely, ineffective strategies for managing cultural diversity may result in negative effects.

Innovation is not assured in organizations when it is not recognized at all levels, according to Lambert (2016). In addition, Ellemers and Rink (2016) suggest that poorly managed cross-cultural teams may experience communication issues and high turnover rates. In

Strategies For Managing Workplace Cultural Diversity In International Organizations Writing An Essay Help

Abstract

Depending on the management strategy, cultural diversity in the workplace can be connected with both beneficial and negative effects. Cultural variety is the presence of representatives from several cultures within a given community. On the one hand, the issue is positively associated with originality, innovation, and the capacity to offer a broader range of clients. Conversely, cross-cultural teams may experience difficulties with communicating and attaining harmony, which may result in decreased production and dysfunctional confrontations. On the basis of Hofstede’s cultural aspects and Hall’s theory of communication, the effectiveness of approaches can be determined.

The literature study revealed three evaluation criteria for diversity management techniques. First, a commitment to cultural diversity must be ingrained in the business culture, and the principles must be adaptable so as not to conflict with any cultural beliefs. Second, organizational leaders, notably the chief executive officer, must serve as role models and demonstrate their commitment to diversity values. Thirdly, international companies must change their policies and standards based on Hofstede's cultural aspects and the country in which they operate. Using the three criteria, the article analyzes three international companies, including Amazon, Google, and Toyota. The outcomes demonstrate substantial disagreement between theory and practice, which has negative consequences.

Introduction

Due to globalization, cultural diversity in the workplace is a topic that is widely debated around the world. International firms are by their very nature compelled to interact with people from diverse cultural backgrounds, hence the topic is of increasing significance. On the one hand, the positive benefits of cultural variety include the formation of a vast knowledge base comprised of diverse cultural experiences, the presence of in-house cultural trainers and informers, and the propensity to extend to foreign nations (Martin, 2014). On the other hand, cultural variety may be linked to decreased productivity, difficulties in achieving unity, and dysfunctional disputes (Martin, 2014). The impacts of the issue are heavily dependent on the used method for managing cultural diversity in the workplace.

Diversity in the workplace has become an expected in the contemporary world, although this was not always the case in the United States. In 1948, when President Truman signed an order to desegregate the military forces, the first step toward workplace diversity was taken (The evolution of diversity, 2016). In the 1960s, a series of laws prohibiting discrimination on the basis of race, color, religion, sex, and national origin were passed (The evolution of diversity, 2016).

In 1987, William Brock commissioned a study of economic and demographic trends, which concluded that legal and illegal immigrants would become a larger portion of the US workforce, requiring businesses to implement effective diversity practices in order to remain competitive (“The evolution of diversity,” 2016). Since then, numerous scientific and business studies have been conducted on the subject.

Even though the problem is widely covered in numerous types of literature, it is unclear what approaches international organizations are now employing to handle cultural diversity. The purpose of this study is to provide a summary of current research on the topic and to identify the gap between theory and practice. In order to attain the stated objective, the cultural diversity policies of three multinational firms are assessed and the results are described. Since foreign organizations are most affected by the choice of diversity management strategy, a minor discrepancy with previous research is anticipated.

Cultural Difference

In the context of globalization, the importance of the concept of culture is growing. Numerous fields, including sociology, political science, economics, and marketing, have examined the concept of culture. Bakir, Blodgett, Vitell, and Rose (2014) describe culture as "the collective programming of the mind that distinguishes members of one human group from those of another" (p. 226). Typically, culture include race, ethnicity, language, nationality, religion, and values. Even though the concept is difficult to articulate, the majority of people intuitively comprehend it.

Cultural variety is the presence of representatives from several cultures within a community. It is difficult to stress the value of knowledge about how it should be controlled. Due to the increased number of legal and illegal immigrants in the United States, the majority of businesses are compelled to manage a multinational workforce (Hopkins and Scott, 2016). Corporate leaders are on a never-ending hunt for effective strategies to meet the challenges of managing cross-cultural teams. Contradictions of ideals among representatives of different cultures are the most prevalent issue (Hopkins and Scott, 2016).

Avoiding the issue is not a realistic solution given that firms' pursuit of uniformity is both difficult and illegal in the majority of instances. Hopkins and Scott (2016) assert that for businesses to remain competitive, they must adopt effective techniques for managing cultural diversity. There is fortunately a substantial corpus of knowledge available to guide leaders in this quest.

Literature Review

Importance and Consequences of Cultural Diversity in the Workplace

Before understanding the most effective ways for addressing cultural diversity in the workplace, it is essential to grasp the advantages and disadvantages of cross-cultural teams. According to Lambert (2016), there are clear relationships between workplace diversity and business performance. Particularly, culturally diverse organizations are more likely to be innovative when managers foster creativity. Nonetheless, poorly managed cross-cultural teams have a tendency to fail in problem-solving (Lambert, 2016). In order to maximize the benefits of cultural diversity, managers are recommended to adopt three guiding principles.

These are the ideals of equality and nondiscrimination, access and validity, and integration and education (Lambert, 2016). In other words, managers must provide their employees with every opportunity, regardless of their cultural background, without offending others. Cultural diversity in the workplace is only connected with enhanced innovation when there are policies that foster innovation at every organizational level and every employee is given the opportunity to become a change agent.

However, cultural variety has a greater influence than simply fostering innovation and posing potential problems with problem-solving. According to Ellemers and Rink (2016), cross-cultural teams are able to “serve a broader spectrum of clients, provide a broader selection of products, and have the potential to establish more community credibility.” (p. 49).

However, variety also has significant drawbacks, particularly when there is a distinct cultural majority. In this situation, minority representatives are more likely to feel alienated from the organizational process, which correlates to greater turnover rates (Ellemers & Rink, 2016). Managers may choose to give greater weight to the ideas of cultural minorities; yet, cultural majorities may be dissatisfied by this trend. In addition, cultural diversity is associated with communication difficulties among employees due to differences in values, preferences, and language (Ellemers & Rink, 2016). The authors argue that managers should pick effective tactics in order to reap the indicated benefits and prevent any negative consequences.

Theoretical Structure

When evaluating cultural diversity management solutions, it is essential to determine the conceptual framework. Bakir et al. (2014) examine Hofstede's theory of cultural dimensions to ascertain the validity and dependability of five cultural features in contemporary contexts. Bakir et al. (2014) examine Confucian Dynamism in addition to the four fundamental characteristics of individualism/collectivism (I/C), masculinity/femininity (M/F), uncertainty avoidance (UA), and power distance (PD) (CD). The I/C dimension is characterized by a preference for a loose social structure in a community, in which individuals want to care for themselves and their immediate family.

M/F refers to the rigidity of sex roles in a culture and whether or not women and men have comparable moral and legal rights. UA refers to the degree to which society members feel uneasy in uncertain situations and the absence of rules. CD measures the extent to which a culture values frugality, persistence, ordered relationships, and shame. The researchers administer a questionnaire to seventy graduate students and evaluate their responses to determine the validity and reliability of each factor. Even though the validity and reliability of dimensions varied, they determined that Hofstede's theory remains applicable.

While Hofstede's cultural aspects are useful for comprehending how managers should tackle cultural diversity in the workplace, the paradigm lacks general applicability. Therefore, it would be advantageous to analyze techniques for managing cultural variety from multiple theoretical vantage points. Wood and Wilberger (2015) suggest incorporating Hall's concept of high and low context cultures to enhance management outcomes. Representatives of high context cultures place greater emphasis on how, by whom, and when something is communicated than on what is said, whereas representatives of low context cultures rely on explicit, verbally conveyed communication (Wood & Wilberger, 2015).

In Japan and Saudi Arabia, for example, individuals are less likely to relate to something if it has been expressed by someone without a title, whereas in Switzerland the message is more likely to be received regardless of the speaker's status. The authors argue that it may not be sufficient to have the greatest technology, methods, and human resources to form a successful cross-cultural team. Managers must recognize cultural differences and tailor their approach to the specific requirements of each individual.

Strategies for Managing Diversity in the Workplace

Managers must comprehend and utilize the reality that value systems vary among cultures in order to improve organizational outcomes. Hopkins and Scott (2016) advocate value-based leadership (VBL) as an all-encompassing approach to managing cross-cultural teams. The authors define VBL as "leaders' ability to successfully reconcile the different value systems that culturally diverse employees bring to the workplace and align them with the value system of the organizations where these employees are employed" (p. 363). The authors advocate that managers adhere to the concepts of authentic leadership (being genuine to oneself), ethical leadership (ensuring all employee acts are ethical), and transformational leadership (influencing the moral ideals of employees) (Hopkins & Scott, 2016).

In addition, organizational values should be clearly defined, should not criticize the values of particular cultures, and should be actively supported by managers (Hopkins & Scott, 2016). In addition, the authors assert that the performance of culturally diverse teams improves over time when VBL principles are implemented. However, the authors conclude that there are numerous unresolved concerns with the technique and that further research is required.

Even if VBL appears to be a realistic technique for managing cultural diversity in the workplace, a broader perspective is advantageous. Guillaume, Dawson, Otaye-Ebede, Woods, and West (2017) offer a comprehensive analysis of the factors that attenuate the effects of workplace diversity. The authors identified seven elements, including strategy, leadership, human resource (HR) practices, organizational culture, unit design, climate, and individual variations, that influence the performance of cross-cultural teams. The strategy must define diversity-related objectives, whereas leadership must advocate for diversity, foster positive outgroup relations, stimulate information elaboration, and foster team reflexivity.

It is suggested that HR managers develop relational coordination, information processing, and decision-making skills through training, evaluations, awards, and promotions. The organizational culture should permit all employees, regardless of background, to identify themselves, and unit design should include defined role objectives and a valid, stable, and verifiable status structure. Additionally, individual diversity are to be valued and varied perspectives are to be communicated. The article makes specific comparisons between the tactics and their consequences.

The adoption of workplace diversity initiatives is mainly dependent on the actions and attitudes of the chief executive officer. While CEOs make decisions, establish corporate agendas, and assign the necessary resources for the completion of various projects, they frequently play a minor part in the actual execution of the strategy. The pro-diversity attitudes and moral values of CEOs are positively connected with their pro-diversity actions, according to Ng and Sears (2018).

Such acts lead HR managers to believe their CEOs are devoted to diversity, hence increasing their adherence to pro-diversity practices (Ng & Sears, 2018). In other words, even while CEOs do not directly implement the designed solutions, they can influence the situation by demonstrating their commitment to diversity in the workplace. The adherence to the practice will inspire the HR managers and enhance the CEO's reputation. In order for a diversity management strategy to be effective, CEOs must demonstrate and convey their values to HR managers and other employees.

Sharma (2016) examines four methods for managing workplace diversity, namely performance appraisal, sociocultural, affirmative action, and capabilities approaches. Cultural, racial, and sexual minorities frequently argue that performance evaluations are unjust. In order to eliminate prejudice, Sharma (2016) proposes that when evaluating employee performance, organizations should evaluate several factors, give multiple raters, and systematically analyze the evaluation.

The socio-cultural approach proposes that managers should recognize the religion, societal attitudes, and paternal leadership of their workforce. The affirmative action model takes the attitudes of managers in decentralized units and the goals and deadlines model into account. Lastly, the capabilities approach supports the notion that businesses must occasionally restructure in order to utilize the inner capabilities of their personnel. While the paper strives to provide comprehensive information on the topic, the conclusions are of little help to managers. The single practical idea involves the organization of employee performance evaluations.

Godiwalla and Bronson (2016) explore the significance of diversity management in enhancing supply chain performance in international enterprises. The authors use Hofstede's model to provide specific recommendations for multinational corporations. Godiwalla and Bronson (2016), unlike Bakir et al. (2014), identify six cultural variables, including short or long term time orientation (TO). (Godiwalla & Bronson, 2016) The authors compiled six helpful suggestions, which are detailed below:

For cultures with a large proportion of PD, managers should employ approaches that adhere to the norms, practices, regulations, and laws, and fulfill the moral requirements of leaders. For individualistic cultures, power should be dispersed, whereas in collectivistic cultures, local authorities should have less autonomy in making decisions. For cultures with a high UA, policies should assure job stability and offer specific parameters for each work role, whereas cultures with a low UA demand greater freedom and opportunity. In environments with a high level of masculinity, compensation, career possibilities, and skill development should be the primary motivators for employees. Strong interpersonal relationships must be encouraged for long-term TO cultures. For CD-oriented cultures, the emphasis should be on “the continuance of stable order that will come about with regard and respect to elders, experienced superiors, or people in positions of greater authority (Godiwalla & Bronson, 2016, p. 374).

Summary

Globalization has made CEOs aware that managing cultural diversity is essential for all types of organizations. Depending on accepted techniques, workplace cultural diversity can have both beneficial and negative effects. On the one hand, cultural diversity is correlated with higher inventiveness and originality (Lambert, 2016). In addition, Ellemers and Rink (2016) assert that cross-cultural teams can offer a broader range of consumers since they are able to comprehend the needs of other cultures. Conversely, ineffective strategies for managing cultural diversity may result in negative effects.

Innovation is not assured in organizations when it is not recognized at all levels, according to Lambert (2016). In addition, Ellemers and Rink (2016) suggest that poorly managed cross-cultural teams may experience communication issues and high turnover rates. In

Strategies For Managing Workplace Cultural Diversity In International Organizations Writing An Essay Help

Abstract

Depending on the management strategy, cultural diversity in the workplace can be connected with both beneficial and negative effects. Cultural variety is the presence of representatives from several cultures within a given community. On the one hand, the issue is positively associated with originality, innovation, and the capacity to offer a broader range of clients. Conversely, cross-cultural teams may experience difficulties with communicating and attaining harmony, which may result in decreased production and dysfunctional confrontations. On the basis of Hofstede’s cultural aspects and Hall’s theory of communication, the effectiveness of approaches can be determined.

The literature study revealed three evaluation criteria for diversity management techniques. First, a commitment to cultural diversity must be ingrained in the business culture, and the principles must be adaptable so as not to conflict with any cultural beliefs. Second, organizational leaders, notably the chief executive officer, must serve as role models and demonstrate their commitment to diversity values. Thirdly, international companies must change their policies and standards based on Hofstede's cultural aspects and the country in which they operate. Using the three criteria, the article analyzes three international companies, including Amazon, Google, and Toyota. The outcomes demonstrate substantial disagreement between theory and practice, which has negative consequences.

Introduction

Due to globalization, cultural diversity in the workplace is a topic that is widely debated around the world. International firms are by their very nature compelled to interact with people from diverse cultural backgrounds, hence the topic is of increasing significance. On the one hand, the positive benefits of cultural variety include the formation of a vast knowledge base comprised of diverse cultural experiences, the presence of in-house cultural trainers and informers, and the propensity to extend to foreign nations (Martin, 2014). On the other hand, cultural variety may be linked to decreased productivity, difficulties in achieving unity, and dysfunctional disputes (Martin, 2014). The impacts of the issue are heavily dependent on the used method for managing cultural diversity in the workplace.

Diversity in the workplace has become an expected in the contemporary world, although this was not always the case in the United States. In 1948, when President Truman signed an order to desegregate the military forces, the first step toward workplace diversity was taken (The evolution of diversity, 2016). In the 1960s, a series of laws prohibiting discrimination on the basis of race, color, religion, sex, and national origin were passed (The evolution of diversity, 2016).

In 1987, William Brock commissioned a study of economic and demographic trends, which concluded that legal and illegal immigrants would become a larger portion of the US workforce, requiring businesses to implement effective diversity practices in order to remain competitive (“The evolution of diversity,” 2016). Since then, numerous scientific and business studies have been conducted on the subject.

Even though the problem is widely covered in numerous types of literature, it is unclear what approaches international organizations are now employing to handle cultural diversity. The purpose of this study is to provide a summary of current research on the topic and to identify the gap between theory and practice. In order to attain the stated objective, the cultural diversity policies of three multinational firms are assessed and the results are described. Since foreign organizations are most affected by the choice of diversity management strategy, a minor discrepancy with previous research is anticipated.

Cultural Difference

In the context of globalization, the importance of the concept of culture is growing. Numerous fields, including sociology, political science, economics, and marketing, have examined the concept of culture. Bakir, Blodgett, Vitell, and Rose (2014) describe culture as "the collective programming of the mind that distinguishes members of one human group from those of another" (p. 226). Typically, culture include race, ethnicity, language, nationality, religion, and values. Even though the concept is difficult to articulate, the majority of people intuitively comprehend it.

Cultural variety is the presence of representatives from several cultures within a community. It is difficult to stress the value of knowledge about how it should be controlled. Due to the increased number of legal and illegal immigrants in the United States, the majority of businesses are compelled to manage a multinational workforce (Hopkins and Scott, 2016). Corporate leaders are on a never-ending hunt for effective strategies to meet the challenges of managing cross-cultural teams. Contradictions of ideals among representatives of different cultures are the most prevalent issue (Hopkins and Scott, 2016).

Avoiding the issue is not a realistic solution given that firms' pursuit of uniformity is both difficult and illegal in the majority of instances. Hopkins and Scott (2016) assert that for businesses to remain competitive, they must adopt effective techniques for managing cultural diversity. There is fortunately a substantial corpus of knowledge available to guide leaders in this quest.

Literature Review

Importance and Consequences of Cultural Diversity in the Workplace

Before understanding the most effective ways for addressing cultural diversity in the workplace, it is essential to grasp the advantages and disadvantages of cross-cultural teams. According to Lambert (2016), there are clear relationships between workplace diversity and business performance. Particularly, culturally diverse organizations are more likely to be innovative when managers foster creativity. Nonetheless, poorly managed cross-cultural teams have a tendency to fail in problem-solving (Lambert, 2016). In order to maximize the benefits of cultural diversity, managers are recommended to adopt three guiding principles.

These are the ideals of equality and nondiscrimination, access and validity, and integration and education (Lambert, 2016). In other words, managers must provide their employees with every opportunity, regardless of their cultural background, without offending others. Cultural diversity in the workplace is only connected with enhanced innovation when there are policies that foster innovation at every organizational level and every employee is given the opportunity to become a change agent.

However, cultural variety has a greater influence than simply fostering innovation and posing potential problems with problem-solving. According to Ellemers and Rink (2016), cross-cultural teams are able to “serve a broader spectrum of clients, provide a broader selection of products, and have the potential to establish more community credibility.” (p. 49).

However, variety also has significant drawbacks, particularly when there is a distinct cultural majority. In this situation, minority representatives are more likely to feel alienated from the organizational process, which correlates to greater turnover rates (Ellemers & Rink, 2016). Managers may choose to give greater weight to the ideas of cultural minorities; yet, cultural majorities may be dissatisfied by this trend. In addition, cultural diversity is associated with communication difficulties among employees due to differences in values, preferences, and language (Ellemers & Rink, 2016). The authors argue that managers should pick effective tactics in order to reap the indicated benefits and prevent any negative consequences.

Theoretical Structure

When evaluating cultural diversity management solutions, it is essential to determine the conceptual framework. Bakir et al. (2014) examine Hofstede's theory of cultural dimensions to ascertain the validity and dependability of five cultural features in contemporary contexts. Bakir et al. (2014) examine Confucian Dynamism in addition to the four fundamental characteristics of individualism/collectivism (I/C), masculinity/femininity (M/F), uncertainty avoidance (UA), and power distance (PD) (CD). The I/C dimension is characterized by a preference for a loose social structure in a community, in which individuals want to care for themselves and their immediate family.

M/F refers to the rigidity of sex roles in a culture and whether or not women and men have comparable moral and legal rights. UA refers to the degree to which society members feel uneasy in uncertain situations and the absence of rules. CD measures the extent to which a culture values frugality, persistence, ordered relationships, and shame. The researchers administer a questionnaire to seventy graduate students and evaluate their responses to determine the validity and reliability of each factor. Even though the validity and reliability of dimensions varied, they determined that Hofstede's theory remains applicable.

While Hofstede's cultural aspects are useful for comprehending how managers should tackle cultural diversity in the workplace, the paradigm lacks general applicability. Therefore, it would be advantageous to analyze techniques for managing cultural variety from multiple theoretical vantage points. Wood and Wilberger (2015) suggest incorporating Hall's concept of high and low context cultures to enhance management outcomes. Representatives of high context cultures place greater emphasis on how, by whom, and when something is communicated than on what is said, whereas representatives of low context cultures rely on explicit, verbally conveyed communication (Wood & Wilberger, 2015).

In Japan and Saudi Arabia, for example, individuals are less likely to relate to something if it has been expressed by someone without a title, whereas in Switzerland the message is more likely to be received regardless of the speaker's status. The authors argue that it may not be sufficient to have the greatest technology, methods, and human resources to form a successful cross-cultural team. Managers must recognize cultural differences and tailor their approach to the specific requirements of each individual.

Strategies for Managing Diversity in the Workplace

Managers must comprehend and utilize the reality that value systems vary among cultures in order to improve organizational outcomes. Hopkins and Scott (2016) advocate value-based leadership (VBL) as an all-encompassing approach to managing cross-cultural teams. The authors define VBL as "leaders' ability to successfully reconcile the different value systems that culturally diverse employees bring to the workplace and align them with the value system of the organizations where these employees are employed" (p. 363). The authors advocate that managers adhere to the concepts of authentic leadership (being genuine to oneself), ethical leadership (ensuring all employee acts are ethical), and transformational leadership (influencing the moral ideals of employees) (Hopkins & Scott, 2016).

In addition, organizational values should be clearly defined, should not criticize the values of particular cultures, and should be actively supported by managers (Hopkins & Scott, 2016). In addition, the authors assert that the performance of culturally diverse teams improves over time when VBL principles are implemented. However, the authors conclude that there are numerous unresolved concerns with the technique and that further research is required.

Even if VBL appears to be a realistic technique for managing cultural diversity in the workplace, a broader perspective is advantageous. Guillaume, Dawson, Otaye-Ebede, Woods, and West (2017) offer a comprehensive analysis of the factors that attenuate the effects of workplace diversity. The authors identified seven elements, including strategy, leadership, human resource (HR) practices, organizational culture, unit design, climate, and individual variations, that influence the performance of cross-cultural teams. The strategy must define diversity-related objectives, whereas leadership must advocate for diversity, foster positive outgroup relations, stimulate information elaboration, and foster team reflexivity.

It is suggested that HR managers develop relational coordination, information processing, and decision-making skills through training, evaluations, awards, and promotions. The organizational culture should permit all employees, regardless of background, to identify themselves, and unit design should include defined role objectives and a valid, stable, and verifiable status structure. Additionally, individual diversity are to be valued and varied perspectives are to be communicated. The article makes specific comparisons between the tactics and their consequences.

The adoption of workplace diversity initiatives is mainly dependent on the actions and attitudes of the chief executive officer. While CEOs make decisions, establish corporate agendas, and assign the necessary resources for the completion of various projects, they frequently play a minor part in the actual execution of the strategy. The pro-diversity attitudes and moral values of CEOs are positively connected with their pro-diversity actions, according to Ng and Sears (2018).

Such acts lead HR managers to believe their CEOs are devoted to diversity, hence increasing their adherence to pro-diversity practices (Ng & Sears, 2018). In other words, even while CEOs do not directly implement the designed solutions, they can influence the situation by demonstrating their commitment to diversity in the workplace. The adherence to the practice will inspire the HR managers and enhance the CEO's reputation. In order for a diversity management strategy to be effective, CEOs must demonstrate and convey their values to HR managers and other employees.

Sharma (2016) examines four methods for managing workplace diversity, namely performance appraisal, sociocultural, affirmative action, and capabilities approaches. Cultural, racial, and sexual minorities frequently argue that performance evaluations are unjust. In order to eliminate prejudice, Sharma (2016) proposes that when evaluating employee performance, organizations should evaluate several factors, give multiple raters, and systematically analyze the evaluation.

The socio-cultural approach proposes that managers should recognize the religion, societal attitudes, and paternal leadership of their workforce. The affirmative action model takes the attitudes of managers in decentralized units and the goals and deadlines model into account. Lastly, the capabilities approach supports the notion that businesses must occasionally restructure in order to utilize the inner capabilities of their personnel. While the paper strives to provide comprehensive information on the topic, the conclusions are of little help to managers. The single practical idea involves the organization of employee performance evaluations.

Godiwalla and Bronson (2016) explore the significance of diversity management in enhancing supply chain performance in international enterprises. The authors use Hofstede's model to provide specific recommendations for multinational corporations. Godiwalla and Bronson (2016), unlike Bakir et al. (2014), identify six cultural variables, including short or long term time orientation (TO). (Godiwalla & Bronson, 2016) The authors compiled six helpful suggestions, which are detailed below:

For cultures with a large proportion of PD, managers should employ approaches that adhere to the norms, practices, regulations, and laws, and fulfill the moral requirements of leaders. For individualistic cultures, power should be dispersed, whereas in collectivistic cultures, local authorities should have less autonomy in making decisions. For cultures with a high UA, policies should assure job stability and offer specific parameters for each work role, whereas cultures with a low UA demand greater freedom and opportunity. In environments with a high level of masculinity, compensation, career possibilities, and skill development should be the primary motivators for employees. Strong interpersonal relationships must be encouraged for long-term TO cultures. For CD-oriented cultures, the emphasis should be on “the continuance of stable order that will come about with regard and respect to elders, experienced superiors, or people in positions of greater authority (Godiwalla & Bronson, 2016, p. 374).

Summary

Globalization has made CEOs aware that managing cultural diversity is essential for all types of organizations. Depending on accepted techniques, workplace cultural diversity can have both beneficial and negative effects. On the one hand, cultural diversity is correlated with higher inventiveness and originality (Lambert, 2016). In addition, Ellemers and Rink (2016) assert that cross-cultural teams can offer a broader range of consumers since they are able to comprehend the needs of other cultures. Conversely, ineffective strategies for managing cultural diversity may result in negative effects.

Innovation is not assured in organizations when it is not recognized at all levels, according to Lambert (2016). In addition, Ellemers and Rink (2016) suggest that poorly managed cross-cultural teams may experience communication issues and high turnover rates. In

Creativity In Event Management Writing An Essay Help

Table of Contents
Introduction Melbourne Show Nature and Organization of Show Event Design Visitor Experience List of Citations Footnotes

Abstract

The study examines the inventiveness of the Melbourne Show in terms of the variety of its programs, its design, and the evaluation of the visitors' experience. The newspaper discusses the inventiveness with which event organizers organize live performances, agricultural expositions, and art exhibitions. In addition, the ticketing system that encourages families to visit rather than individuals has been lauded as an innovative innovation that attracts more tourists. The evaluation of visitors' experiences with the varied programs of the exhibition is also included in the study. The data are contrasted with pertinent literature on event management in order to support the points made in the article.

Introduction

According to organizations, sponsoring an event is a means of communicating with the public. The incident may take various forms. It can promote a cause to public attention, collect funding, attract collaborators, and even inspire a celebration. Excellent event management will ensure the success of the aforementioned activities. The event management requires a diversified group to organize the events. The reason for this is because event managers must have relevant customer service experience. In addition to planning, event managers must possess the skills of organization and graphic design as part of their supplementary qualifications. To ensure the success of an entertainment event such as the Melbourne Show, the organizers must determine their objectives and number of activities, including site selection, materials, live performances, and other exhibitions and speakers. Additionally, it is essential to identify the audience and tailor the programs accordingly. Before preparing and presenting an event, it is necessary to collect the necessary components for the arrangement of programs. Before that, event planners must be inventive to showcase the occasion as its flavor grows (Vanguard Communications, 2006). 1

Therefore, event managers must acknowledge that creativity is a continual process and must demonstrate innovation in all facets of event management. Therefore, it is essential to visit a monthly art exhibit and live performances. In addition, an event manager's creativity can be enhanced by a passion for and knowledge of music, dance, literature, the visual arts, and acting. A creative event manager must possess the skills of a caterer, marketer, writer, entertainment manager, musical contractor, graphic designer, and decorator. Thus, events such as the Melbourne show can serve as a model for event organizers who demonstrate the aforementioned abilities for organizing a creative event (Joe Jeff Goldblatt, 2005, pp. 49-50). 2

Melbourne Display

In this study, the Melbourne show, a pure entertainment event for people of all ages, is evaluated. This show's originality is understandable when we consider that it began in 1848 as a plowing competition. One can see that the ploughing competition was original in those days, and each year the number of programs and exhibits at the fair has expanded, demonstrating inventiveness in expression. The inventive events added to the festival lengthened it to eleven days of nonstop enjoyment. From agriculture to rural lifestyle, from leisure activities to entertainment, from food, wine, and horticulture to rides and more, the show's unique events are diverse. The innovation comes in the fact that the event organizers attempted to give city dwellers a peek of rural life. Additionally, the presentation promotes agricultural excellence in addition to entertainment. As a result, the event rewards the sector and highlights the finest Victorian goods. As part of the show, one can find competitions and organisations in agricultural and rural communities. Nonetheless, the inventiveness does not end here. Unlike the agricultural and rural way of life, the

The beer awards, wine display, and horse show lend glitz and elegance to the occasion. Consequently, the Melbourne Show is considered as Australia's largest and most adaptable indoor/outdoor exposition and event site. It provides room and versatility for staging exhibitions, trade displays, film production, concerts, and other events that draw individuals from all walks of life (Royalshow.com, 2009). 3 Consequently, innovation in the management of an entertainment event such as the Melbourne Show is what innovatively entertains and draws a huge number of attendees.

Nature and Structure of Display

The ticketing system is essential when examining the nature and organization of entertainment shows like the Melbourne Show. Individual tickets cost $28, however family tickets that admit two adults and two children cost $65, indicating to clients that families are permitted at a discounted rate. People choose to come with their families in order to take advantage of the discount offered by the organizers. Due to the fact that each family consists of four individuals, this increases the number of visitors to the exhibition, and thus, the company within the exhibition thrives as well (Royalshow.com, 2009). 4

In light of the foregoing, Graham Berridge (2007) asserts that the management of experiences is crucial and should be carefully crafted as an approach to the delivery of services, activities, and programs. In the aforementioned environment, the organizers are effective in drawing families as customers in order to meet the needs of all the displays in the show (Graham Berridge, 2007 pp. 70-71). 5

Design of the Occasion

After a big number of people have purchased tickets, the design of the event will play a significant role in attracting additional people through word-of-mouth and increasing attendance next year. Inviting celebrities to the show for a particular event to attract more viewers can also be considered a creative element in the creation of the show's programs. Regarding food activities, the organizers recruited Master Chef Chris Badenoch from the renowned reality cooking show for a food tasting and Victorian Premier John Brumby for the opening ceremony on September 17 of this year. In addition, schoolchildren are drawn to activities such as painting fiberglass cows and sky-high rides and fireworks. However, allowing guests to view animals, art and craft, and live entertainment over the course of 11 days demonstrates that the festival is intended to attract people from all walks of life and of all ages (Herald Sun, 2009). 6

Therefore, the above design falls under the event organizers' leisure management and expresses leisure as an experimental encounter. Graham Berridge (2007) opines in the preceding context that leisure experience is a thing in which consumer motives can be transformed into results or rewards via the consumer process. Graham cites Buswell (2004, p.3) in the aforementioned context, who states that the consumer process involves interaction between three fundamental factors: time, flow, and expression. The Melbourne exhibition changes the experience of visitors by limiting the availability of time or allowing an unlimited amount of time, depending on whether the organizers require visitors to engage in freely chosen activities. In the aforementioned framework, the flow of visitors corresponds to the sensations people have at various stages of any event. In light of the aforementioned, Melbourne Show is an event that interacts with people through the design of programs and provides them with a limited-time, programmed leisure experience (Graham Berridge, 2007, pp. 69-71). 7

Evaluation of the Visitor Experience

The next and final step is the evaluation of guests' experiences with free live shows and entertainment. As visitors undoubtedly attend both free live shows and featured entertainment, the total number of attendees throughout the course of the 11-day exhibition can serve as an indicator of the visitors' satisfaction. If participation grows from day one to day 11, the experience might be rated as outstanding. The experiences of visitors must be evaluated for a variety of events, since the programs range from ping-pong races to fireworks displays to the Bush Games, which demonstrate Australia's talents, strengths, and traditions. If live performances such as pig racing and fireworks displays examine the experience of visitors who are interested in viewing an adventure or a spectacular event, then the Bush Games programs assess the experience of visitors who are interested in demonstrating or testing their talents. Moreover, there is no lack of entertainment for art enthusiasts, as the organizers presented a wide variety of live music. In addition, the Sunday programs provide guests with a respite from the commotion and noise of the exhibition. Consequently, similar to the diversity of the show's programs, visitors from all walks of life and all lifestyles have diverse experiences (Royal Show.com, 2009). 8

Thus, the event management in the Melbourne Show may be viewed as a collection of many tactics employed by destination managers to overcome obstacles. Particularly, the management focused on attracting a large number of return visitors to the exhibition over the course of 11 days. The return of visitors within 11 days bolsters Melbourne Show's competitive position, resulting in an increase in the rate of visitors. The aforementioned criterion evaluates the visitors' experiences as those that compel them to return to the show and cause a considerable portion of visitors to return the following year for the same experience. Positive visitor experiences are the result of pursuing excellence in all elements of the show's events and producing consistent performances. This is the reason for the continued existence and success of the Melbourne Show since 1848. (Dimitri Tassiopoulos, 2005, pp. 2-6). 9

List of Citations

Event Management: A Professional and Developmental Approach, published by Juta and Company Limited in Zambia in 2005.

Graham Berridge, (2007), Events Design and Experience, Oxford, UK: Butterworth-Heinemann.

Herald Sun, "Opening of the Royal Melbourne Show," Web.

Joe Jeff Goldblatt (2005) published Special Events: Event Leadership for a New World with Wiley & Sons in Hoboken, United States.

Royalshow.com, Services and Information on the Internet, 2009.

Royalshow.com, Tickets and Packages, 2009. Web.

Royal Show.com (2009). Internet. Live Shows and Entertainment.

Preparation and Creativity Make Event Planning a Breeze, according to Vanguard Communications (2006). Web.

Footnotes

Preparation and Creativity Make Event Planning a Breeze, according to Vanguard Communications (2006). Joe Jeff Goldblatt, 2005, Special Events: Event Leadership for a New World, Website. Hoboken, United States: Wiley and Sons. Royalshow.com, (2009), Information and Services. Royalshow.com, (2009), Ticket and Package Information Graham Berridge, (2007), Events Design and Experience, Butterworth-Heinemann, Oxford, United Kingdom. Web. Herald Sun, (2009), Royal Melbourne Show to Open. Web. Graham Berridge, (2007), Events Design and Experience, Oxford, UK: Butterworth-Heinemann. Live Shows and Entertainment, Royal Show.com, 2009. Web. Dimitri Tassiopoulos, 2005. Event Management: A Professional and Developmental Approach.

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Walmart Ltd Financial Analysis Writing An Essay Help

Introduction

Sam Walton established Walmart Company many years ago. It was founded on the objective of quality improvement and price control. The corporation has about 8,400 outlets in 15 countries and two million employees who serve 200 million customers and members every week. Since its inception, the company has provided low-cost, high-quality items with great success.

It has undergone numerous transformations and expanded significantly to become an international corporation. The company's growth may be linked to its mission, and it has been successful in accomplishing its aims and objectives, including its primary objective of saving people money to improve their quality of life. The corporation has outlined three priorities — growth, leverage, and returns — that will increase shareholder value (Walmart 20101). These three are consistent with the company's objective and are responsible for the company's continued existence and positive reputation.

Walmart Organisational Structure

The company is led by the President, who is also the Chief Executive Officer (CEO). The company's current CEO is Michael T. Duke. The corporate structure of the corporation comprises of the CEO and his subordinates as well as the chairman of the company's management board. The management board elects the CEO through a vote (Walmart 20101). Since its founding, the firm has had numerous CEOs, including Lee Scott, who was followed by Mr. Duke.

The management team is more focused on executing a strategy plan driven by the company's three pillars (growth, leverage, and returns), which are believed to have a significant influence in the expansion of shareholder value (Libby, 20102). The expansion is meant to expand the company's global trade activities, and the company's leverage level is reached by maintaining quicker growth of operating income than sales and the lowest feasible growth of operational expenses.

Walmart's SWOT Evaluation

The SWOT analysis involves evaluating a company's strengths, weaknesses, opportunities, and potential threats. It provides a complete examination of the company's future growth potential and its capacity to withstand an unanticipated economic shock, such as a recession (Weygandt, Kimmel & Kieso, 20093). One might analyze Walmart's strengths from a financial standpoint. According to public financial data, the company has generated profits over the past few years and has never experienced a loss. Observed positive cash flows over the past three years indicate that the company is financially solid and able to meet its long-term financial obligations without difficulty.

In addition, the performance of Walmart's business operations provides insight into its strength. The company has been subdivided into three segments, which is a sort of horizontal marketing integration, and losses in one sector can be offset by profits in other segments. For instance, when Walmart club's operating income grew at a negative rate in 2010, the overall growth in operating income was positive since other segments' operating incomes grew at significant rates.

One of the company's flaws is that its current liabilities for 2010 are greater than its current assets, indicating insolvency. This is a perilous situation for the organization, particularly for small businesses (Nikolai, Bazley & Jones, 20094). In addition, Walmart is defined by its use of debt to complement its capital. In 2009 and 2010, the corporation issued $6.6 billion and $5.5 billion in long-term bonds, respectively. This is a significant problem for a business, and it can lead to indebtedness. There are so many chances accessible to Walmart, which is one reason why the company appears to have strong growth potential.

The company has already identified prospective international markets for its products, and its items have a history of being in great demand worldwide. These chances are fueled by the company's enduring goodwill over the years. As the current CEO of the company notes, he is so impressed by the potential in the United States and internationally. Despite the company's potential for expansion, its image faces a number of dangers that may harm its reputation. For instance, the corporation is facing a number of lawsuits that may easily tarnish its reputation for years.

Former employees have filed a lawsuit against the corporation for allegedly violating wage-hour requirements by failing to provide them with rest and eating breaks. The corporation cannot show the actual loss incurred by pursuing these cases and is spending astronomical sums of money doing so. In addition, the company was sued a second time in 2006, with the petitioners alleging that the institution refused to pay class members for all hours worked and stopped employees from taking their full meal and rest breaks (Walmart 20105). There are numerous pending judicial cases involving the corporation. They constitute a threat to the organization in the sense that members of the external community, particularly those with vested interests in the organization, may develop a negative attitude toward the organization.

Walmart's merchandise

The Walmart Company is a retailer. It is actively engaged in selling its products directly to clients and does not create original products. The company has excelled in the provision of exciting and high-quality goods, including healthcare products, fresh food (fruits, vegetables, and other consumable agricultural products), office supplies and equipment, electronic goods (televisions, radios, and refrigerators), and other general consumables, as a result of its mission to simplify savings for members and customers.

All of these and many others are available through the company's retail stores in the United States and in other countries where it runs subsidiaries (Canada, India, Mexico, and Brazil among other countries). The organization handles all products carried by conventional supermarkets. The company is driven by a single manufacturing principle: incurring the lowest feasible costs while purchasing, operating, and selling products at the most reasonable price possible (Barry & Jamie, 20046).

Location or locations of Mart Company

The company's headquarters are in the United States of America, but it has subsidiaries in other nations. It is subdivided into Walmart US, Walmart International, and Sam's club parts. Walmart US consists of the business's mass merchant in the United States, serves as the parent company for all other companies, and operates under the "Walmart" brand name. The worldwide section comprises the operations of overseas companies, whereas Sam's Club consists of warehouse membership clubs based in the United States. Therefore, the company's headquarters are located in the United States, where a substantial number of stores exist. Each branch operates independently and can be categorized as investment and profit centers (Nikolai, Bazley & Jones, 20097).

This is well proven by the case study demonstrating that organizations' fiscal years end at different times. For instance, Walmart US and Canada have fiscal years that end on January 31, but all others end on December 31. Consequently, each subsidiary branch accounts for its income and expenses independently of the country in which it operates. The corporation has gone even further by establishing mergers in multiple nations as a means of securing vast markets and facilitating market penetration.

The sector Walmart Company operates within.

The company operates in the retail industry and supplies consumers with finished goods directly. It focuses in supplying critical products to the final consumer. Therefore, the corporation engages in trading on a highly competitive market, and its competitive position is determined by the quality of its services. The corporation does not produce any commodities and instead purchases already-manufactured goods to which it may make minor modifications, such as branding, as a marketing tool to increase the marketability of its products. The company's inventory control is simplified by the large number of warehouses it maintains, especially in the United States (Walmart 20108). This increases the effectiveness of its operations and ensures product availability throughout.

Why Walmart Company was selected as the preferred business

The Walmart Company provides a complete financial analysis, which is one of the reasons why it is superior to the competition. The organization has submitted all the essential financial records for data analysis. In addition, the company has fully adhered with the Generally Accepted Accounting Principles (GAAP) in preparing these financial statements, so they accurately reflect the company's financial condition. These statements have been presented in a manner that facilitates a quick evaluation of a company.

Again, the offered reports cover the success of the company over a number of years, making it easy to compare the company's performance in different years. The supporting evidence has been provided, detailing the causes behind the company's performance in particular years. A further reason for selecting this company is that it is a large multinational corporation operating in a highly competitive environment, and as such, it provides detailed information on the best strategies to implement in order to survive in an industry characterized by so many competitors and still emerge as the most preferred provider of goods to many consumers (Walmart 20109).

In addition to its trading activities, the company is particularly devoted to accomplishing its sustainability aim of protecting the environment by reducing its greenhouse gas emissions at a large rate and by providing aid to communities that have been devastated by natural disasters. This indicates that the organization is more committed to contributing to sustainable development (Nikolai, Bazley & Jones, 200910).

The company's primary rivals

As stated previously, the corporation competes in a very competitive industry in both the United States and the other countries it serves abroad. This is a significant obstacle, because businesses in this industry rely on the principle of survival of the fittest to thrive. Walmart offers numerous providers of comparable goods, and failure to make right judgments might easily result in the company's exit from the market.

An essential philosophy that has contributed to the success of a company is putting client satisfaction before profit. The company faces intense sales rivalry from supermarkets, warehouse clubs, and specialty stores, which are national, regional, and worldwide chain stores. In addition, there is rivalry from shops operating online markets and catalog companies.

The competition is informed not just of market penetration through the provision of goods, but also of Walmart's efforts to find strategic locations for additional retail stores and to recruit and retain employees, known as 'associates' at Walmart. The physical location of a firm or any other economic organization is crucial since the buyer's convenience plays a significant influence in the transportation of goods.

There is competition for the available space where the corporation intends to construct new retail shops. In addition, an organization's personnel have a substantial impact on the nature of the services it offers on the market. Expertise and a high level of ability are fundamental qualities that every market participant in the sector strives to obtain. There are no specific companies that can be identified as Walmart's competitors. There are numerous market participants in this business, and the provided products are comparable, therefore competition is optimal (Weygandt, Kimmel & Kieso, 200911). In such a situation, quality becomes one of the most significant demand-determining criteria, and Walmart has effectively achieved this.

Analysis of financial statements for Walmart Company

Walmart Company's financial statements consist of accounting for Walmart stores in the United States and its international subsidiaries. In preparing these financial statements, intercompany elements have not been consolidated.

An study of the income statement

A company's financial statement consists of numerous income and expense components. The table below provides a summary of the company's financial status since 2006, including any changes that may have happened and their causes. All future summaries will be based on this document (figure 1.0). Various components of the company's financial statement are detailed below.

Total revenue

Total revenue is similar to total sales for a business. The total income for 2010 increased by 1 percent, a rate that was slightly lower than the previous year's growth rate of 7.3 percent. Multiple causes, including increasing client traffic, extended foreign activity, and the launch of a new marketing subsidiary in Chile, contributed to the growth rate (Walmart 201012). This modest growth rate was caused by a $ 9.8 billion adverse currency exchange rate in the company's international businesses, compared to $2.3 billion in fiscal year 2009, when the growth rate was rather higher. In 2009, a greater growth rate was also fueled by foreign development efforts and a large increase in store sales.

Despite the effects of foreign exchange rates, the international segment's share of the company's overall revenue increased between fiscal years 2010 and 2009. (Walmart 201013). In addition, it is likely that currency exchange rate changes will continue to have an impact on the foreign segment's overall revenue in the coming years. Comparable store sales, which assess the performance of existing US stores in terms of sales growth for a certain period compared to the same time the previous year, are a substantial component to the company's total revenue. Comparable store sales in the United States decreased by 0.8% during fiscal year 2010 compared to a growth rate of 3.5% during fiscal year 2009.

The drop was primarily attributable to deflation in some categories of products and lower fuel prices. In 2009, similar outlets were reordered in the United States as a result of an increase in customer visitation and average operation size per consumer. The drop in sales growth rates of comparable stores is due to the fact that, as the company establishes new stores in the United States, these new stores are sucking clients from the old locations, hence decreasing the sales growth rates of comparable stores. Nonetheless, the business anticipates that the impact of additional stores on comparable store sales will settle over time.

Operating income

Operating profit is calculated by deducting from total revenue the cost of sale and operating, selling, general, and administrative expenditures. The company's goal is to increase operating profit at a faster rate than total revenue and operating expenses (Nikolai, Bazley & Jones, 2009, p.214). During the fiscal year 2010, operating expenses grew by 2.7 percent as compared to fiscal year 2009 while the growth in net sales was 1.0 percent over the same period. This accelerated rate of operating expenses relative to net sales was

Budgeting Analysis Questions Writing An Essay Help

Table of Contents
Annual Budget Model's Inherent Weaknesses Traditional Budgeting Process and Benchmarking Traditional Budgeting Process and Balance Score Card Traditional Budgeting Process and Activity-Based Budgeting Model Reference List

The Deficiencies of the Annual Budget Model

A budget is a short-term action plan expressed in quantitative terms for a specified future period. Traditionally, the majority of budgets cover one year. Annual budgets are based on historical information. The incremental budget approach, for instance, examines the previous budget to determine the budget for the preceding period by adding a certain amount to the prior statistics. This is due to factors such as fluctuating size, inflation, and the company's aims. In this modern era, the old budgeting strategy is losing favor with the majority of businesses due to this reality. This period is marked by fast change, complexity, and unpredictability. Consequently, a set budget will prevent the organization from capitalizing on existing possibilities and addressing its risks.

Regardless of the budgeting method employed, the annual budget model has numerous inherent flaws. Inflexibility is among the key flaws. Regardless matter the method employed, conventional budgets tend to have a predetermined plan. It is a plan that an organization bases and organizes its activities upon. That is, managers cannot determine what to invest in, how much, and when without regard to the budget. Because the company's resources are finite, the budget tends to deplete the available capacity. They cannot engage in an activity that appears more profitable to them than the scheduled activity. Therefore, they have no advantage over their competition. Alternatively, they have no competitive edge.

Currently, annual budgets are produced for usage in the future. Nonetheless, the dynamism and complexity of the corporate world represent a significant obstacle. Given that the future is fraught with unpredictability, the budget becomes irrelevant. Currently, there are countless technical improvements; therefore, firms must be able to take advantage of these developments and adapt to change. Annual budgets prevent this situation from occurring.

Even though the rolling budget strategy was designed to address this issue, it does not contribute to the overall management of change. Instead, it concentrates on the solutions to the difficulties facing the organization at that particular time, and is therefore not adaptable to change.

Another key flaw is that annual budgets tend to argue for budget compliance rather than promoting the need for continuous improvement. This is management ensuring that the allotted resources are utilized without emphasizing the need for efficiency and effectiveness. To avoid losing their bonuses as a result of overextending the budget or squandering the allocated resources, departmental managers concentrate on achieving the goal. Consequently, the quality of the given goods or services may decline. A department with surplus capacity may resort to waste or fraud to ensure that its resources do not decrease in the upcoming term.

Consequently, they can receive their incentives. Therefore, annual budgets do not encourage managerial and employee excellence and innovation. It is also not a force for ongoing advancement (Horngren, Sundem and Schatzberg, 2010).

The drawback of annual budgets is that they consume a significant amount of executive time and resources while adding negligible value to the firm. Many of the company's resources are used by the budgeting system, which incorporates both old and modern budgeting methodologies. Zero-based budgeting, activity-based budgeting, and rolling budgets consume a significant amount of money when generating annual budgets for research and development. Developing methods for enhancing the quality of services and products provided, boosting the degree of production, or making new, more profitable investments, resulting in enhanced profitability and a competitive advantage in the current business environment. The budget concentrates on distributing money and establishing what is to be done, but does not explain or detail how this will be accomplished.

Lastly, annual budgets are primarily internal in nature. The management do not evaluate the budgets of comparable competitors. That example, firms with comparable capacities and operating in the same industry would have comparable budgets. This necessitates benchmarking; having an interest in what your opponent is doing, identifying what he is doing incorrectly, and developing a superior budgeting approach.

A budget includes the cost of raw materials and other operating expenses, as well as the anticipated revenue from the sale of goods and services. The primary objective of budgeting and the budgetary control system is to decrease costs, raise revenues, and improve the system's efficiency. In an open system, businesses engage with the surrounding environment. In order to be efficient, the budgeting process must be both internally and externally focused on all parts of the environment, as the company acquires raw materials from the environment and sells commodities to it (Horngren, Sundem and Schatzberg, 2010).

Managers' perspectives on annual budgets vary. Some view budgets as a means to an end, but others consider them a waste of time and resources. However, budgets are essential planning and management tools, thus companies should evolve beyond budgeting to address the shortcomings of traditional budgeting (Horngren, Sundem and Schatzberg, 2010).

Traditional Budgeting Process and Comparative Budgeting

Benchmarking is the process of comparing one's performance to that of the top in an industry or across industries. This procedure ensures a company's competitiveness. The purpose of benchmarking is to ensure that the company's procedures grow more efficient and effective. It emphasizes quality, timeliness, and cost. In other words, it reduces production costs; it is faster, cheaper, and of higher quality (Carnal, 2007).

It entails strategic management identifying the firm with the best practices in the industry and reviewing its performance relative to this company in order to improve its performance. The benchmarking process is ongoing; it is not a one-time affair. The benchmarked results are required to evaluate the company's previously established performance goals. However, businesses who utilize the conventional budgeting procedure will be at a disadvantage. Due to the inflexibility of traditional budgets, they cannot be modified to reflect the dynamic, uncertain business environment. In turn, this hinders the company's ability to implement its strategic plans and places it on par with its competitors (Seal, Garrison and Noreen, 2008).

In the traditional budgeting process, the management sets budget objectives from the top down. This is based on their perception of what is desirable. As a result, the employees do not feel like they are a part of the organization and are, thus, not motivated to work. The benchmarking group consists of employees, whose participation in the benchmarking process challenges and motivates them. As a result, they do not demonstrate opposition to change and instead welcome it. However, using the vertical budgeting strategy, this is not possible (Campbell, 1998).

Internal benchmarking can be conducted across departments within an organization or externally between industries. The outcomes are essential for establishing performance evaluation standards, which are required for budgetary control. The standards reflect the current situation. This is due to the regular reviews performed. In contrast to the standards used in traditional budgeting, which were established at the start of the period, the adoption of such standards for performance evaluation will mislead management (Brimson, 2010).

In the usual budgeting process, management establish goals that employees may seem unattainable. However, the instruction from above does not permit them to report this to the management. Consequently, operational managers will adjust their outcomes. The purpose of benchmarking is to examine the goals of other companies in a similar circumstance and determine what they do to attain these goals, which they then attempt to emulate in their own organizations. With the predetermined objectives, this will not be achievable (Randall, 1999).

The traditional budgeting technique encourages budget adherence rather than constant improvement. The objective of benchmarking is to advance and enhance the performance of business operations. This is hindered by the usage of annual budgets, which hinders the realization of strategic change that encourages continual progress (Seal, Garrison and Noreen, 2008).

Traditional Budgeting Methodology and the Balanced Scorecard

The balanced scorecard is a performance measurement and evaluation tool. It employs both financial and non-financial performance measurements. Balanced scorecards are crucial for the daily implementation of corporate strategies. It includes four primary components: finances, customers, internal company operations, and learning and development. The objective of the balanced scorecard is to establish methods for implementing the strategy. This can be accomplished utilizing the mission statement. In addition, it seeks to integrate all parts and operations of the company across all administrative levels in order to develop a sophisticated performance assessment system (Weetman, 2007).

The conventional budgeting approach is primarily concerned with the financial aspects of a business. The appraisal of performance is based solely on financial facts. However, it disregards the other part of the company. For a company to have a competitive advantage, it must analyze all areas of its business, including how its consumers perceive it, what it can do to excel, if it can continue adding value, and how it seems to its shareholders. Traditional budgeting's narrow perspective hinders the successful use of the balanced scorecard as a tool for performance measurement and implementation of its plans (Sullivan, et al. 2003).

Traditional budgeting has the tendency to separate and build barriers between departments, which is one of its downsides. This goes against the ideas of the balanced scorecard, which strives to develop a system of performance measurements by integrating the many departments.

Traditional Budgeting Method versus Activity-Based Budgeting

Activity-based model is a model that tends to coordinate both the operational and financial aspects of a business. It focuses mostly on determining the activities that the organization will pursue. The activity-based model use activity-based theories to decide the activities to be performed depending on the required capability. Using the resource consumption rate, they determine the resource requirements based on the activities. The operational manager then creates the operational budget, which is converted into the financial budget by calculating the cost of the resources (Seal, Garrison and Noreen, 2008).

In cases where there is a disparity between the required and available resources, the budget can be altered by reevaluating the rates, the quantity demanded, the price, or the capacity. In conventional budgeting, they can only alter the quantity demanded and the availability of resources due to inadequate knowledge. This may drive managers to engage in gaming activities to maintain their bonuses and make ends meet.

Activity-based models strive to satisfy consumers' demands and requirements in the most efficient and effective manner feasible. It is externally focused, whereas the traditional budgeting process is an internal affair whose primary focus is the allocation of resources within the business. Therefore, the traditional budgeting process does not encourage the achievement of the objectives of the activity-based model.

The traditional budgeting process comprises departmental negotiations on the allocation of available resources. This implies that the resources are not utilized optimally. This violates the principles of the activity-based model, according to which the allocation of resources is a process requiring extensive research on the processes involved, the activity requirements, and the consumption rate of those activities. In addition, activity-based management entails monitoring the consumption pattern to ensure that any inadequacies are discovered in a timely manner and that remedial action is implemented before it is too late. This is another area where traditional budgeting falls short, as there are no tools for monitoring resource consumption patterns (Jones, 2008).

Traditional budgeting processes explain budgets in language that lower-level managers and staff cannot comprehend. Their responsibilities are not evident from the plan. Activity-based models generate an understandable operating plan. The operational plan outlines each department's responsibilities with precision, ensuring that no time is wasted. Again, the convectional budgeting process fails to support the activity-based model's attainment of its goals (Kaplan and Cooper, 2009).

Bibliography

Activity Accounting: An Activity-based Costing Approach, by J. A. Brimson. John Wiley and Sons, London.

Campbell, David (1998). Organizations and the Business Environment. Legoprint, Oxford

Managing Change in Organizations. Carnal, C. Pearson Education, Essex

Horngren, C. T., Sundem, G. L., and Schatzberg, J. (2010). Management Accounting: An Introduction. London: Individual Education.

Jones, M. (2008). An Introduction to Management Accounting. John Wiley & Sons is headquartered in Chicago.

Cost and Effect: Using Integrated Cost Systems to Drive Profitability and Performance. Kaplan, R. S., and R. Cooper. Harvard Business School Press, London.

Strategic Human Resource Management by S. Randall. Boston: MPG Books.

Seal, W., R. H. Garrison, and E. Noreen (2008). Accounting for management functions. Manhattan: McGraw-Hill

A. Sullivan and others (2003) published Economics: Principles in Action. Upper Saddle River, New Jersey: Prentice Pearson.

Weetman, P. (2007). An Introduction to Financial and Management Accounting. Chicago: Prentice Hall.

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Information Systems And Business Process Writing An Essay Help

Managers and businesses invest in information technology and systems because these tactics give genuine economic value to the enterprise. The choice to develop or maintain an information system presupposes that this investment will generate greater returns than other assets (Laudon & Laudon, 2006). To support a company's business process, a suitable information system that fulfills organizational criteria must be established or bought. In addition, information systems do not occur randomly in business; their development is a time-consuming and costly endeavor that should only be done after thorough evaluation of an organization's goals. The aims of an information system are crucial in shaping the organization's scope, form, and character. The next paragraphs illustrate how an organization's information systems support its business processes.

Business processes relate to the set of logically linked activities and behaviors that businesses establish over their existence in order to produce particular business outcomes, as well as the distinctive way in which these jobs are organized and managed (Stair & Reynolds, 2006). In order to fulfill the corporate objective of a company plan, it is crucial that managers implement information systems. Since an information system is comprised of hardware, software, people, a network, and procedures utilized by companies to deliver information for decision making, the information requirements of a business are based on the many levels of managerial decisions that must be made. According to Haag, Cummingz, and McCubbery (2002), information systems are the cornerstone of conducting business; the type and quality of an organization's information systems determine its commercial operations.

The primary management levels are operational, tactical, and strategic. The operational level of a business organization like ABC Company, a manufacturer of food products, requires information for preserving company records and easing the flow of work within the organization. Data Processing Systems (DPS) and Transaction Processing Systems (TPS) are the information systems employed at this level (TPS). Second, the tactical level requires data for comparing the results of operations to the plans and altering operations and plans accordingly. The majority of Management Information Systems (MIS) support these functions. Thirdly, the strategic level requires data for long-term planning and policy decisions on the organization's future commitments. Thus, the essential information systems at this level are Decision Support Systems (DSS) and Executive Information Systems (EIS); both support business process planning (Haag et al., 2002).

Therefore, information systems facilitate the capital management of an organization. A significant prerequisite for implementing and maintaining a business process within an organization is capital. In this example, it is assumed that information technology represents the biggest proportion of enterprises' capital expenditures. Hardware such as computer systems and networking equipment, software such as database management systems and spreadsheet programs, and telecommunications equipment such as mobile phones assist organizations like ABC in enhancing their production processes through effective business operations. Moreover, information systems boost business productivity. Utilizing DSS-like spreadsheet software, ABC Company's management can make less structured judgments; using spreadsheet models, the company can anticipate its average sales and annual profits and even formulate future plans. In support of this point of view, Elliot and Starkings (1998) argue, "what the organization wants to do depends on what its systems will permit it to do."

Another business process support is consistent with strategic opportunity and advantage. To exploit possibilities such as: 1. New markets, which are the foundation of product positioning and market share acquisition for ABC's food goods. New items that provide clients with numerous options, and therefore satisfaction. ABC has been able to make large investments in information technology for the purpose of gaining consumer loyalty and repeat business. Among these is an e-commerce platform for conducting online commercial activities. Thus, the corporation is able to reduce the number of middlemen in its supply chain, cut transaction costs, improve data access, and enter new market segments based on client feedback.

However, ABC's TPS has both advantages and disadvantages. The organization's primary operations consist of processing customer orders, making orders for raw materials, and processing product payments. Therefore, its online structure allows it to fulfill all of these functions. The disadvantage of this information system is that the majority of private data is not secure via the internet. Occasionally, the company meets a control and accountability obstacle. The decision to design programs that can be utilized in an ethical and socially responsible manner appears to elicit contentious ideas. Moreover, information security is a serious concern that contributes to the loss of privacy and availability (Laudon & Laudon, 2006). In order to measure the success of the information system, the corporation must restructure and reengineer its business activities by implementing an intranet and extranet with security mechanisms, such as firewalls or virtual private networks (VPNs). This will boost the effectiveness of the company's operations.

In conclusion, businesses must have a clear grasp of their long-term and short-term information needs through integrating suitable information systems into their business processes. Consequently, information systems are significant for the following reasons: the basis for conducting business, productivity, capital management, and strategic potential and advantage. However, the challenges of information systems investment, globalization, and ethics must be considered when sustaining a strong IT system.

References

Elliot, G., & Starkings, S. (1998). Systems, theory and practice of business information technology. Pearson Education, Essex

Haag, S., M. Cummingz, and D.J. McCubbrey (2002). Information Management Systems for the Information Age (3rd Ed.). Manhattan: McGraw-Hill

Laudon, K. C., & Laudon, J. P. (2006). Management information systems: digital enterprise management (9th Ed). Upper Saddle River, New Jersey: Prentice Hall Pearson

Stair, R.M., and G.W. Reynolds (2006). The basics of information systems (3rd Ed.). Boston: Thompson Course Technology.

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Vivint Smart Homes Inc.’s Managerial Practices Writing An Essay Help

The Economic History

Vivint Smart Homes Inc.'s objective is to provide clients with secure and intelligent homes that match their needs. The company integrates cutting-edge technologies from numerous companies into clients' homes to maximize their comfort and safety. Additionally, the organization engages in creative approaches to enhance performance and meet the needs of its target customers (Spivey, 2015). Planning techniques are effective ways for directing corporate operations and producing results on schedule. Vivint Smart Homes begins with luring clients with potent promotional techniques and offering personalized floor plans and house designs. To fulfill such demands, employees labor around the clock and discover further methods to enhance the homeowner experience.

A business strategy is a model that governs the actions taken to complete operations, meet the needs of customers, and maximize performance. At Vivint, managers and leaders provide guidelines and incentives that all followers must adhere to. The business will promote its services and urge more prospective customers to join the model ("About us," n.d.). They will receive customised lighting systems, cameras, and security measures that are capable of altering the user experience.

Vivint has customers in the United States and Canada at present. The ideal Vivint customer has a home, a family, and children, and requires safety and monitoring. The organization has been successful in attracting more homeowners and supplying high-quality systems throughout the previous decade. This industry is profitable and admirable because it provides answers to numerous homeowners. As a result, the concept has attracted other competitors who may impact the future profitability of Vivint Smart Home ("About us," n.d.). AT&T, Dwelo, ADT Corporation, and ComCast are a few of the main companies in the North American market. The presence of these competitors shows why the organization should prioritize the most effective ways to remain competitive and viable.

Organization

Vivint Smart Homes employs a straightforward structure that ensures favorable results are recorded. The function of the company's leader is to provide pertinent recommendations and directions. Multiple departments fulfill their distinct roles in accordance with the larger organizational architecture. The company has a defined organizational structure that fosters performance. Notable is a horizontal chart in which the chief executive officer (CEO) of the organization connects directly with departmental heads (Spivey, 2015). These specialists work as partners to guarantee that the company achieves its business objectives. There are informal organizations present at Vivint Smart Homes. However, the organization encourages a distinct culture in which employees can focus on their goals while giving the best possible service to its target clients.

Vivint Smart Homes has devised an efficient procedure for decision-making help. The participation of all partners is a shared endeavor through which leaders will identify problem areas and work to provide a lasting solution. The department of human resources (HR) will encourage employees to present concerns and participate in decision-making ("About us," n.d.). The leaders make timely decisions designed to enhance organizational performance and get the organization closer to its stated objectives.

Change is an ongoing process that companies must take seriously. Vivint Smart Homes is one of the companies that maximizes performance by focusing on recorded gains and considering additional enhancements. Each department is free to adopt the necessary changes based on its anticipated objectives. Some leaders will detect growing issues and propose organizational adjustments (Spivey, 2015). The ultimate goal of such a procedure is to recruit all potential partners and staff while minimizing the possibility of rejection. Such a strategy will enable the organization to fulfill its business objectives and enhance service delivery. Every adopted modification is intended to improve performance and bring the organization closer to its objectives.

Leadership Model

Some of the recorded gains can be attributed to Vivint Smart Homes's distinctive leadership style. The organization supports a transformational leadership style that empowers followers and encourages them to focus on the bigger picture. The current CEO of the company is Todd Pedersen. Nate Randle, the organization's chief marketing officer (CMO), and Alex Dunn, the president, are both famous heroes who advocate for this leadership style (Majumder et al., 2017). These leaders encourage their people and collaborate to achieve beneficial outcomes. They urge departmental heads to support transformational leadership since it enables the organization to adapt to developments in the home automation industry in North America. The responsibilities of these important heroes explain why this new company can successfully compete with its regional rivals.

To assist the delivery of great results, this company's leaders consider and adopt potent characteristics that have the ability to create a favorable environment. Specifically, the CEO has been at the forefront of fostering a culture in which employees can exchange ideas and focus on the big picture (Aldabbagh et al., 2020). It is easier for individuals to resolve their conflicts. Customers can easily communicate and interact with employees. The clients are able to learn more about the offered services and consider the best solutions to satisfy their unique demands in such an atmosphere. Departmental leaders provide their employees with rules and incentives (Majumder et al., 2017). This strategy is accountable for this company's increased levels of motivation. Individuals are allowed to seek counsel from one another and their leaders. This environment has empowered the majority of employees, consequently facilitating the achievement of beneficial organizational objectives.

The HR department has created an ethics code that governs the conduct of all employees. Individuals can communicate directly with their respective leaders, given the existing culture. Any bureaucracy with the potential to impair performance has been minimized by the horizontal structure. Leaders can communicate directly with staff and share their perspectives with targeted customers (Aldabbagh et al., 2017). This model indicates that the nature of organizational communications at this company is effective and capable of producing favorable outcomes. Some employees and team leaders rely on new technology and online media platforms to disseminate pertinent information and guarantee that all stakeholders remain focused on the organization's strategic objectives.

Processes for Managing

This company enterprise has implemented a variety of controls aimed to support the quality of services offered to varied clients. Key controls encompass operational, financial, and human elements. The HR department identifies the available resources and connects them to the desired roles and responsibilities ("About us," n.d.). Such controls are necessary to ensure that all business sectors collaborate to facilitate the timely delivery of outcomes.

Financial controls are a vital component of this organization's operations. The finance department implements and manages improved methods and rules for allocating financial resources to meet consumer needs. The company conducts forecasts and assessments to guarantee that anticipated earnings are realized (Biocco et al., 2018). Balance sheets, profit-and-loss statements, and invoices are some of the powerful tools and records that can aid in the achievement of anticipated goals, which are utilized by the relevant specialists. Utilizing these controls guarantees that the company maintains its financial health while paying the expenses necessary for the business's efficient operation.

The business model of the corporation shows why operational controls are crucial. The purpose of these security measures is to ensure that the services offered to clients are accessible and of the greatest quality. Individuals working in the appropriate units will be required to coordinate with and monitor subscribers' cameras and footage (Biocco et al., 2018). They make prompt choices and inform anticipated customers of any security issues. Emerging observations and decisions serve as the foundation for future analysis and enhancements.

Information systems (ISs) play an important function in this corporation by supporting the business model and ensuring that timely outcomes are reported. Using connectivity devices and cameras, for instance, allows staff to remotely survey and monitor the established systems. Customers are able to monitor their homes from their mobile devices, such as tablets and smartphones, because of the adoption of such advances. The Internet is a valuable resource that makes communication and connection processes efficient and capable of producing good outcomes (Biocco et al., 2018). By leveraging ISs, this company will be able to provide its home automation services and solutions to a greater number of clients. This accomplishment will increase its chances of achieving success and achieving its corporate objectives.

Innovative Management Techniques

Innovation is crucial since it ensures that corporate executives guide and encourage their subordinates to give extra suggestions that can enhance the consumer experience. Innovative management practices are visible at Vivint Smart Homes, where employees are provided with regular technological updates ("About us," n.d.). The given techniques and tools enable them to think more deeply and consider how they might transform the expectations of a greater number of clients.

This technique is vital because it helps employees to evaluate what competitors may be doing to reach their full potential. They have sufficient time to build and test new security solutions. The leaders sponsor competitions in which the winner receives a prize (Edwards, 2020). The employees are encouraged to devise novel means of enhancing the results for the targeted clients. This concept has produced a distinctive culture of entrepreneurship in which the majority of employees prioritize the most effective methods for producing positive outcomes. Some individuals engage in lifelong learning to get further insights for enhancing organizational performance and advancing corporate objectives.

Unfortunately, this organization has been driven to employ pragmatic techniques to handle some ethical concerns. First, the integrated IS systems and cameras may raise ethical difficulties and questions regarding the business's access to the acquired material. This organization has addressed this issue by convincing all of its customers of the security and confidentiality of its automation (Miller, 2015). Second, some stakeholders are typically concerned about the nature of these systems and the possibility of unlawful access to the obtained personal information (Edwards, 2020). Thirdly, some individuals and homeowners have been hesitant to acquire some of the solutions offered by Vivint Smart Homes owing to moral concerns. Specifically, some of these individuals believe the organization can rely on them for their own benefit. However, the company's management have been successful in overcoming these difficulties and persuading additional individuals to join the project.

In order to maximize organizational performance, this corporation offers a variety of techniques to empower its employees. For example, the advocated culture increases value by encouraging employees to share. They also obtain timely tools and resources that stimulate experimentation and the delivery of superior solutions (Edwards, 2020). All important partners are required to engage in the training programs and corporate social responsibility (CSR) initiatives offered by the company. In addition to competitive salary and promotions, this company's efforts to promote employee empowerment are supported by empirical facts.

Technology has evolved into an indispensable asset that enables Vivint Smart Homes to provide individualized, high-quality services. The business concept is based on new technologies and systems. The company supplies handheld equipment and technologies intended to give individualized customer service ("About us," n.d.). Internet and social media platforms are potent technologies that enable the business model of this corporation.

Integrating Vivint Smart Homes

This study indicates that Vivint Smart Homes is one of the most desirable employers for me. This decision should be made since the leadership is supportive and the culture is positive. In addition to competitive compensation, mentorship provides workers with other possibilities to increase their competence (Miller, 2015). By viewing this company's website and discovering fresh job openings, I can join the organization. I will apply to them and keep an eye out for internship opportunities.

Literature Review

In 1999, Todd Pederson and Keith Nellesen founded this group. Pedersen was born in Seattle, Washington in 1968. He attended Idaho Falls High School before beginning to offer various pest control services. A few years later, he would explore into burglar alarms and systems. He chose to contact Keith Nellesen in order to launch the company that would become Vivint Smart Homes (Miller, 2015). Keith was born in 1967 in Idaho Falls, where he grew up. He attended the same high school as Pedersen and earned a master's degree in accounting. These two individuals established APX Alarm, which grew to become Vivint.

Employee Meetings

Individuals undergo interviews prior to joining this organization. These activities aim to identify the potential of individuals and explore how their competencies might contribute to corporate performance. The organization undertakes extra performance reviews to evaluate how training programs might be planned and enhanced ("About us," n.d.). Such methods are intended to enhance organizational performance and guarantee that the intended clients receive timely and high-quality services.

Marketing Materials

Currently, Vivint relies on effective advertising methods to reach its objectives. This site, www.vivint.com, is its principal promotional connection. It has a Facebook, Twitter, and Instagram presence. It distributes leaflets and advertises its services on television ("About us," n.d.). Current clients are encouraged to spread the word in order to attract more individuals and improve service quality.

Industry Research

The home automation market in North America is getting increasingly lucrative. Miller (2015) estimates that this industry might be worth a total of 63,2 billion dollars by 2025. Over thirty percent of new homeowners seek these services. Still very few competitors exist in relation to other industries. The sector is anticipated to expand tremendously during the next few years. Investors should analyze these factors and determine how Vivint can continue to be lucrative and sustainable.

References

About ourselves (n.d.). Web.

Aldabbagh, G., Alzafarani, R., & Ahmad, G. (2020). System for energy-efficient home monitoring and automation (EE-HMA). 8(5), 3176-3185. International Journal of Recent Technology and Engineering. Web.

P. Biocco, M. Keshavarz, P. Hines, and M. Anwar (2018). A review of the privacy practices of smart home manufacturers. Web.

Dahmen, J., Cook, D. J., Wang, X., & Honglei, W. (2017). A survey of smart home security solutions that detect, evaluate, and respond to security threats. 3(2), 83-98. Journal of Reliable Intelligent Environments. Web.

R. Edwards (2020). Web-based Vivint Smart Home security evaluation by Safewise.

Majumder, S., Aghayi, E., Noferesti, M., Memarzadeh-Tehran, H., Mondal, T., Pang, Z., & Deen, M. J. (2017). Recent developments and research difficulties in intelligent houses for senior care Sensors, 17(11), 2496-2527. Web.

Miller, M. (2015). The Internet of Things: How smart televisions, automobiles, houses, and cities are transforming the globe. The company Pearson Education.

D. Spivey (2015). Home automation for dummies. Wiley.

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Ford Motor Company’s Organizational Change In 2007 Writing An Essay Help

Organizational Alteration

Organizations are occasionally presented with the option of modifying their structures. This requirement is necessitated by the dynamic nature of the business environment in which the majority of firms operate, as well as the necessity for the business to expand, enhance its performance, and keep its competitive edge within its industry. Organizational change refers to the changes or transformations that an entire organization or firm undergoes, as opposed to those that effect only a small portion of the organization. This implies that the shift affects the methods and procedures that the company regularly utilizes to conduct its operations, as well as the organization's structure and its people (Nadler & Tushman 195) In most instances, the company in issue must make substantial investments to ensure the effectiveness of the targeted change in order to implement such changes. In order to reduce instances of resistance, it is necessary to inform all employees of the organization about the change.

Many employers develop change implementation plans to guide them through the process of implementing organizational change successfully. Once the employer sees the need for change, a thorough analysis is conducted to develop an implementation structure and transition plan that will guide employees through the change phase and avoid problems created by the changes' implementation. Several strategies have been outlined for implementing change in an organization. According to Cummings and Worley (163), a successful structure consists of the following components:

Motivating Change: In this step, the employer prepares the workers for change in order to reduce instances of resistance. The reasons for the change are made plain to the employees, and they are also made aware of the current condition in comparison to what the ideal situation should be at that moment (Cummings and Worley 165)

Vision: The employer articulates a vision for the changes and describes their impact on personnel and the organization as a whole. The vision is founded on the company's intended aims and objectives, as well as its current vision.

Developing Support for the Change entails identifying persons with the most influence on the change process and persuading them to support the changes.

Transition Management: Here, the employer describes the actions that will be carried out, the order in which they will occur, and how the management structure will be affected and handled. At this stage, commitment to the change is crucial and should be communicated to staff. Noting that the majority of change effects are not noticed immediately, the transition period should be managed with great care, as it signifies the company's shift from its current condition to its anticipated future state.

Sustaining the Change's Momentum: The employer provides the resources necessary for the change's success, ensures that everything is proceeding as planned, and implements the plans meant to bring about the change (Cummings and Worley 176) It is essential to highlight that the majority of change effects are not felt immediately.

Ford Motor Corporation

Ford is an international automobile manufacturer headquartered in Dearborn, Michigan. Henry Ford formed and incorporated the corporation in 1903. Lincoln, Mercury, and Ford are the company's primary vehicle brands, but it also holds investments in other vehicle-producing firms, including Volvo, Mazda, and Aston Martin. Currently, it is the fourth largest automobile manufacturing corporation in the world, with a sizable client base and employee workforce in its numerous international subsidiaries. Multiple accolades have been given to the company for the exceptional quality of its brands, which bolsters its continuing growth, performance, and presence in the automotive sector.

Ford has had enormous expansion over the years, but since the onset of the global economic crisis, it has encountered similar difficulties as other automakers. This is a result of the rising cost of gasoline used in the automobile sector, the rising cost of raw materials, and the declining demand for vehicles. Ford and other major industry players, such as General Motors, had focused on producing less fuel-efficient vehicles due to the high profit margins generated by major sales. However, when the energy crisis struck, the demand for these vehicles decreased, putting the companies under pressure because they had few fuel-efficient vehicles to offer customers.

Ford's Way Forward Plan for 2006

Due to these and other financial problems that have plagued the company for the better part of this decade, Ford drew up a business plan and submitted it to Congress. The plan outlined additional measures the company intended to take to combat the problems caused by the 2008 economic crisis and the subsequent credit crunch. In an interview recorded by PBS News Hour's Ray Swarez in early 2006, the company's vice president Mark Fields stated that Ford needed to embrace a new business model because the one they had been using was no longer working (Suarez para. 2).

The plan was intended to go into force immediately and last through 2008 or 2009, but due to the economic difficulties of the past two to three years, it has had to incorporate more strategic activities. It was commonly referred to as the Way Forward Plan and was presented to the company's employees via the FCN broadcast network and Web Cast from the Dearborn Product Development Center in the presence of industry analysts and the media (Bresnihan paragraph 4). The motivation behind the plan was the realization that the company needed to focus on long-term goals such as brand building, customer satisfaction, strong product delivery, innovation, cost cutting, and productivity.

Ford planned to close facilities in Kansas, Norfolk, Chicago, Minneapolis, Ontario, and Dearborn, Michigan, for a total of sixteen by 2008, as well as lay off a portion of its employees in stages from 2006 to 2008. This was to be done in accordance with a buyout plan in which the company's employees would voluntarily select a more financially attractive choice. Following negotiations with the UAW (United Auto Workers) union for workers in the automotive industry, the business agreed to the idea. This idea was prompted by a decline in sales of the business's non-fuel-efficient trucks and sporty vehicles, as consumers opted for fuel-efficient vehicles that the corporation had overlooked in favor of high-profit, high-fuel-consumption vehicles.

Another of the company's plans involved reducing the production of some of its vehicle brands, such as the fuel-guzzling F-series trucks and SUVs, in an effort to reduce production costs, though it was noted that this move would not yield significant results in the short term because workers affected by the move would still need to be compensated (Isidore para 1-2) In order to save its reputation, the business intended to introduce newer, more fuel-efficient models, such as high-hybrid automobiles, and embrace modern technology to conserve gasoline. Competition from General Motors and Toyota, who introduced new vehicle brands to the market, did not work well for Ford, as their brands were fuel efficient, and at a time when gasoline and other fuel prices were high, it was only logical for consumers to choose these new models over those introduced by Ford.

Ford Motor Company has implemented some of the aforementioned modification procedures, while others are ongoing. For instance, the company's CEO at the time, Bill Ford, communicated the intended changes to the employee, informed them of the company's current position in terms of profitability and where the company hoped to be after the implementation of the said changes, how they would be affected, and provided them with a timetable for the completion of the intended changes, which was between 2006 and 2008. He also explained that although the employees would lose their jobs and other benefits, the implementation of the changes would achieve the company's long-term goals and improve the future relationship between the company and its employees in terms of sustainability, as the company would be able to better serve its employees by returning to profitability.

Ford's Achievements Since Implementing the 2006 Way Forward Plan

The company's performance improved as a result of the gradual adoption of the Way Forward adjustments in 2006, as indicated by the company's 2007 annual report published in 2008, which described its progress and priorities. According to the business's CEO, the company had demonstrated financial improvement by incurring a loss of only $2.7 billion as opposed to the close to ten thousand billion dollars that it had incurred the previous year (Ford Motor Company). 5) The corporation had made a number of workforce cutbacks in North America by offering early retirement and separation packages, and it still aimed to make additional reductions in order to reduce its operational expenses (Ford motor Company). 12) The deal between UAW and Ford has made this feasible. Some of the closing plants, including Norfolk, St. Louis, Windsor, Wixom, Atlanta, Essex, and Maumee, were already closed. Additionally, the corporation was able to rearrange and reduce its manufacturing and assembly capacity to accommodate clients' shifting tastes (Ford Motor company). 13) This improvement continued and the company even reported profitability in the first quarter of 2008, but the success was cut short by the 2008 credit crunch and economic crisis. As a result, the company developed a new business plan as a continuation of the previous one and presented it to the Senate Banking Committee, requesting temporary loans to be used if necessary as they continued with their restructuring (Ford Motor Company Business Plan 2)

The 2008 Business Plan for Ford Motor Company as submitted to the Senate Banking Committee

In this plan, the firm outlined its plans for the North American market, which included its reorganization plan, which would allow it to run successfully in accordance with the current market demand, and its suggested product mix for its various car brand models. According to the company's legislative filing, the new product mix would be 40% trucks, vans, and SUVs and 60% cars and crossovers, with 18% of the company's investment going to trucks, vans, and SUVs and 82% to cars and crossovers (Congressional Submission app. 3)u.

In addition, the corporation offered an expedited schedule for the creation of new items designed with the needs of its clients in mind and within their price range. This would imply that they would develop smaller, more fuel-efficient vehicles, but they would not abandon other models like SUVs, trucks, and vans entirely (Ford Motor Company Business Plan 12-13) The company's sustainability and electrification plan, along with its inventive product approach, would allow it to develop new hybrid and all-electric vehicles that would help customers save money on fuel. The 2008 strategy would also allow them to enhance their balance sheet and, consequently, the financial stability of the organization (Ford Motor Company Business Plan 28)

Result of Ford's business strategies (Way Forward 2006 and the Congressional Plan 2008)

These initiatives would affect many firm departments as well as the company's personnel. Based on the given variables, the impact would be as follows from the perspective of the employees:

Employee Absenteeism

As they fight to protect their jobs, employee absenteeism would decrease significantly. This could be due to apprehension that a high rate of absence would be regarded as a lack of dedication to the company's operations, resulting in their termination.

Productivity

As a means of demonstrating their dedication to the firm and its operations, employees would increase their output, irrespective of the area in which the company operates. This would result in increased production for the organization.

Occupational Satisfaction

Job satisfaction refers to employees' contentment with their occupations and the general work environment. If they are content with the working conditions, this would translate to job satisfaction. This type of satisfaction stems not only from monetary benefits accrued by the employees, but also from non-monetary gains, such as how they are treated by the management, the organization's culture and how it favors them, their level of participation in the company's decision-making process, and the level of empowerment they receive at work. Given the ongoing layoffs at Ford and the loss of benefits such as health coverage, it is reasonable to assume that the majority of employees are dissatisfied with their positions.

Employee Turnover

This refers to the rate at which employers gain or lose employees due to employees changing jobs. It can be high or low based on the length of time between an employee's joining and leaving the organization. This rate is often calculated using aggregate data. As a result of Ford's continuous restructuring plan, I believe that the staff turnover rate is considerable, as people seek more stable jobs elsewhere in quest of job security.

Employee Engagement

When employees are positively motivated, they work more and generate better outcomes, which positively impacts the company's overall performance. Managers and employers in general must ensure that their employees are motivated at all times. This can be accomplished by recognizing them when they do a good job, offering them rewards such as bonuses, and providing them with job security, as this will ensure that all of their attention is focused on performing the job. It is difficult to maintain high levels of employee enthusiasm at Ford, as job security is no longer assured until the company undergoes significant change, which will not occur overnight.

Conclusion

Ford Motor Company has had its share of difficulties in the past decade, beginning with their financial challenges in 2006 and continuing through the energy crisis, credit crunch, and global financial crisis in 2008. This has prompted the company to implement a number of restructuring and recovery strategies in an effort to change the company's direction so that it can return to profitability as it was before the troubles began. These strategies appear to be working, as the company reported profits for the 2009 fiscal year and predicted the trend would continue in 2010. (Collins, Heck & Dickenson 1)

This demonstrates that organizational reforms have been successful for a corporation, despite the fact that the company had to lay off a big number of employees and close several plants in an effort to reduce expenses. In addition to bringing the firm to profitability, the restructuring plan has resulted in Ford becoming more customer-centric by offering them with more fuel-efficient car brands, allowing them to save money on gasoline expenditures, with plans to further develop these brands in the coming years. Ford will serve as an example for other companies in the automotive industry facing similar problems, demonstrating that it is sometimes necessary to devise viable strategies and make difficult decisions, such as changing a company's business model, in order to save the company and the industry as a whole.

Sources Cited

Ford FCN. 2006. Web. Bresnihan, Terry. "Ford Business Plan Vows to Return to Profitability."

Bill Collins, Larry Heck, and David Dickenson. "Ford Reports Profit for the 2009 Full Year; Fourth Quarter Profit of $868 Million; Plans to be Profitable in 2010+." 2009 Ford Motor Company website.

Thomas Cummings, along with Christopher Worley. Organizational Change and Development. 2008 printing by South Western Cengage in Ohio.

Progress and Priorities, Ford Motor Company, 2007 Annual Report, Annual Report. 2008 Ford Motor Company website.

Business Plan for Ford Motor Company. "Ford Motor Company Business Plan as Submitted to the Senate Banking Committee." 2008 Ford Motor Company website.

Ford Motor Company.

Chris Isidore, "Ford Slashes Production," August 2006 CNNMoney.com. Web.

The names David Nadler and Michael Tushman are cited. Organisational Frame Bending: Reorientation Management Principles. Academy of Management Executive, England, 1989.

"Ford Cuts 1,000 Workers, Closes Two Factories," by Ray Suarez. PBS NEWSHOUR. 2006. Web.

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Organizational Culture Eats Strategy For Breakfast Writing An Essay Help

Introduction

"Culture eats strategy for breakfast" was coined by the architect and father of contemporary management, Peter Drucker. The phrase is used to illustrate the significance of culture within an organization, as well as the significance of strategy implementation to the success of an organization. Having a strategy in a company is one thing, but implementing it correctly and effectively is another. Therefore, effective management within a company is necessary to align these two factors. It also explains why there is resistance to organizational strategy change, even when the plan is supported by a well articulated vision and mission.

Organizational culture

Culture inside an organization has been characterized in a variety of ways, as it is a vital aspect of every organization. Culture is the foundation of an organization, dictating how a business is run, how it presents itself to the public, and the culture it wishes to portray to its personnel. According to Aquinas, organizational culture is "the set of beliefs, values, and norms, along with symbols such as dramatized events and personalities, representing the unique character of the organization and providing a context for action within and by it" (34). Other academics have provided varying definitions of culture.

Culture is the unconscious code that defines an organization, gives it a positive feeling, and indicates what is right or bad depending on the organization's values and ideals. It demonstrates what works or does not work within an organization and how it reacts to unforeseen external or internal factors. Culture comprises the dress code of employees, how they interact with coworkers, and expectations. It encompasses ethical marketing and promotional activities, correct production procedures, a decent pricing strategy, and the provision of high-quality goods.

Organizational culture types

There is a formal chain of command where commands are issued in a certain order. Market culture — The organization is more aligned with external variables than with internal issues. It emphasizes suppliers, competition, customers, and regulators more. According to Schein, "under this culture, the organization follows the market dynamics of demand and supply and monetary exchange. In the 1990s, Philips Electronics lost a significant market segment in Europe (60). It resulted in a robust push to alter the firm's competitive edge. Under the leadership of a new chief executive officer, a global company named Centurion was designed to transform the company's culture from hierarchical and complacent to customer-focused and competitive. Adhocracy Culture – It assumes that firms must be innovative in the 21st century. Pennings remarked that the company should create new products, encourage entrepreneurship, and employ current technologies to enhance its administration (116). The rise and collapse of the Apollo 13 mission is a striking illustration of how rapid management and team member changes may be expensive. Insufficient communication existed between the astronauts and the control room. Clan culture. It is a culture based on the family structure. It seeks to expand and nurture the organization collectively through the utilization of shared values, individuality, and member participation. In lieu of a hierarchical or profit-driven structure, the organization becomes characterized by teamwork, worker commitment, and employee participation in programs. It is based on employee compensation, advancement, and quality circles. Pixar is an example of a company having a clan culture. Pixar is a producer of animated films. Due to its clan culture, the business is quite profitable. According to Schein, "the majority of film businesses assemble exceptionally gifted individuals, provide them with resources and latitude, and then release them to conduct their creative work. Instead, Pixar has fostered a culture of close-knit collaborators who support one another, learn from one another, and seek to grow with each production (78).

Organizational technique

Numerous investigations are conducted to determine the cause for the success of some managers and the failure of others, which eventually leads to the success or failure of the business. Scholars attempt to determine why businesses within the same industry get disparate performance. Some companies are market leaders, while others are market followers. Variation in organizational performance can be linked to each organization's unique business strategy. Piers defined strategy as "establishing objectives for the organization and laying out a path for its advancement." The process of strategy is the first step towards reaching success. A strategy is a collection of guidelines that governs and reports managers' activities and choices (93).

Organizational strategy types

Price reduction can be used to position a company, acquire market share, and penetrate the market. A cost-cutting approach incorporates outsourcing, reducing personnel costs, and regulating efficiency. Change strategy is a transformation in corporate practices. It requires the adoption of new technologies, mechanization, mergers and acquisitions, downsizing, and restructuring. Better customer service is a method for ensuring that the consumer is in charge. It requires providing exceptional service and following up. A quicker turnaround time makes the consumer happy.

Organizational culture and strategy's pertinence

These two factors are fundamental to an organization. It enables all participants to collaborate toward a single objective by employing the proper approach and culture. A company's culture affects its efficiency and effectiveness. A positive cultural attitude at the workplace is associated with employee job satisfaction and organizational loyalty. This improves productivity and profitability. The relationship between employee turnover and absenteeism and organizational culture is clear. The culture determines the amount of employee happiness and the employee's readiness to assume new duties.

It is incredibly challenging to replicate an organization's culture. This provides a corporation with a competitive advantage over its rivals. The organization's internal and external strategies are balanced by its culture. Strategy contributes to the realization of a company's vision and mission. They provide direction for the organization and how it interacts with the market. They also interact with the organization's culture to create a prosperous business. Apple's strategy, for instance, is founded on production, delivery function, and innovation, all of which are matched with its culture of employee engagement and maximum value to its high-performing team. Wal-Mart is a successful business with enjoyable and customer-friendly workers. Its objective is to have reliable technology, a customer-centric atmosphere, and reasonable prices. This is consistent with its ethos of employing customer-focused, affable employees and providing a clean working environment.

Managers have realized that in order to be effective and relevant, a healthy workforce increases the company's productivity. According to Saxena, "Organizations that rely on customer service to succeed in the marketplace frequently employ other must-play strategies." For instance, Nordstrom, Four Seasons Hotels, and Emirates Air excel at delivering an exceptional client experience, but to compete, they must also prioritize quality and efficiency (94).

Case study with Virgin Atlantic

Virgin Atlantic is a prime example of a company whose culture has greatly profited from its approach. Authors have referred to it as a "unusual organization" due to its structure, culture, and ease of conducting business because of its fascinating tale. Richard Branson acquired new business abilities in order for his enterprise to become operational. Virgin's less formal organizational structure encourages its employees to be hard-working, like conducting business, and have the company's best interests at heart. The success of Branson's Virgin is owed to the company's culture. He urged his employees to adopt a risk-taking and entrepreneurial mindset. The corporation has utilized Porter's techniques to maintain its market relevance.

In support of the argument that culture consumes strategy for breakfast.

Staff members within an organization are loyal to the culture. A corporation with a culture of assuring long-term employment promotes employee loyalty and the ability to accomplish its business strategy. The culture of a company provides comfort and resilience through difficult times. A strong culture is more crucial than a solid plan for a business. Starbucks was saved by the company's robust culture. In the majority of organizations, culture predominates over strategy. For instance, Raymond writes that "Southwest Airlines did not have to implement a pay cut strategy during the 1991 fuel price crisis because employees volunteered for it" (128). Therefore, it is clear that when strategy and culture collide, culture triumphs, and we can conclude that culture devours strategy.

Sources Cited

Aquinas, Peter. Organisation Behaviour. Excel Books India, New Delhi, 2009. Print.

Pennings, Johannes. Organizational change and strategy. 2009, Routledge, New York. Print.

The Piers, Sally Perspectives on Organizational Change Theory and Practice. 2012, Oxford University Press, New York. Print.

Raymond and Miles Strategy, organizational structure, and process. Stanford University Press, California, 2003. Print.

Principles of Management: A Modern Approach, by Patrick Saxena Global India Publications, New Delhi, 2010. Print.

Schein, Edgar. The relationship between organizational culture and leadership. 2009, Miami: John Wiley & Sons. Print.

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Financial Systems And Financial Institutions Writing An Essay Help

Definition

A financial system is a complicated structure that manages a wide range of financial operations, but primarily facilitates the flow of funds between savers and borrowers. The systems are essential for informing the planning and action plans of an organization and for assisting different actors in the sector to track and manage the resources necessary for the successful execution of any given or chosen activity.

Introduction

The system consists of a variety of components, which include the following:

Financial institutions, Financial markets, Financial instruments, Financial services, Financial practices, Financial transactions (Sheffrin, p. 551, 2003).

Financial markets, which refer to the mechanisms that allow people to trade financial securities, commodities, and other fungible items, and financial institutions, which refer to institutions whose primary source of profit is through financial asset transactions, facilitate the functioning of the financial system through financial instruments.

Financial services include banking, insurance, stock brokerage, investment services, and other professional services that guarantee the smooth flow of financial activity within the economy. The services aid in obtaining sufficient finances and aid in their deployment, hence assuring effective administration.

Financial practices should be consistent with business ethics, as any deviation would affect how much a consumer pays or whether he/she purchases all financial services on the market. Furthermore, deceptive and unfair financial services practices frequently result in severe consumer injury, necessitating the need for information to promote consumer financial literacy.

Attributes of Financial Services

Financial services serve a crucial role in the effective transfer of money from lenders to borrowers, which necessitates that the nature of these services be distinct, as evidenced by the following traits:

Financial services must be customer-focused; in order to be customer-focused and remain relevant in the creation of wealth in any economy, financial firms offering these services must study the needs of their customers prior to determining their financial strategy; this ensures that the firms design only products that are custom-made to meet the needs of their customers.

Financial services must be intangible; an emphasis on quality and innovation is essential for any organization providing financial services and products; this would ensure that the firms maintain a positive image, thereby gaining the consumers' trust.

Financial services must be concurrent; production and delivery of the services to clients must occur simultaneously to ensure service continuity.

Financial services must have a tendency to expire; financial services cannot be held because doing so would undermine their functionality, suggesting that enterprises providing this type of service must synchronize demand and supply in order to meet clients' demands.

The primary function of financial systems is to efficiently transfer wealth from lenders to borrowers, hence facilitating substantial wealth creation in any economy.

Asymmetric information refers to decisions made when dealing with transactions in which one party has better or more information than the other, creating an imbalance of power given that knowledge in business dealings is power; this can sometimes complicate transactions involving financial systems, resulting in situations in which neither party can effectively enforce or retaliate for violations of certain terms of an agreement, whereas the other party can. Good examples of this problem include adverse selection and moral hazard, wherein adverse selection refers to a situation in which the ignorant party lacks information while negotiating an agreed understanding of the contract and moral hazard refers to a situation in which the ignorant party lacks information about performance of the agreed upon transaction or lacks the ability to retaliate for a breach of the agreement (David & Baruch, pp. 2747 – 2766, 2000). The moral hazard focuses on the code of conduct once an individual has been insured and refers to the risk of irresponsible behavior due to the insurer's inability to see it or respond against it (David & Baruch, pp. 2747 – 2766, 2000). Typically, adverse selection occurs when the buyer of goods, services, or assets has difficulty assessing the quality of these items in advance, whereas moral hazard occurs after the signing of a purchase agreement between the buyer and the seller, most likely due to a change in behavior or inaccurate monitoring by the buyer of the seller's change in behavior.

Asymmetric information happens when traders on one side of the market in any market setting involving financial assets possess knowledge that traders on the opposite side of the market do not (Howells & Bain, pp. 35 – 40, 2007). This condition may not appear to be a significant issue for markets; typically, it would be inexpensive and simple for traders with information that others lack to share it. However, real-world market experiences have shown that traders with detailed information may benefit from concealing or misrepresenting it; this gives brokers and other players favorable ground to exploit and close major business deals (Howells & Bain, pp. 35 – 40, 2007).

In conclusion, asymmetric information in any market setting refers to the differences between the information available to buyers and sellers. For instance, in financial assets markets, asymmetry may arise between lenders, who are the buyers of the assets, and borrowers, who are the sellers; this may ultimately distort or shape the observed credit-market outcomes.

Financial Institutions and Markets

Financial markets are a crucial component of financial systems because they not only facilitate the exchange of previously issued financial assets, but also the facilitation of borrowing and lending through the sale of newly issued financial assets, paving the way for the interactive portion of trading to commence. The purposes of financial markets include:

By way of borrowing and lending, financial markets facilitate the transfer of funds from one agent to another for investment or consumption objectives.

Price determination: financial markets enable or provide a platform from which prices for newly issued financial assets or even existing stock can be determined; this information can be easily gleaned from the history of related assets for newly issued financial assets or from the modifications adopted for existing stocks to maintain their demand.

Information aggregation and coordination: financial markets provide a platform from which useful information can be collected and aggregated about financial assets and the flow of funds from lenders to borrowers, making it simple to assess the level of success or failure, and ultimately allowing for the formulation of corrective measures to ensure the growth and expansion of economies through the efficient flow of wealth.

Risk sharing: in every business transaction, the greater the number of parties involved, the greater the spread and the weaker the effect of risks on individuals. Financial markets permit the transfer of risks from those who undertake investments to those who provide funds for the same, thereby reducing the impact on each party.

Liquidity: a thriving financial market ensures holders of financial assets have easier and quicker conversion options should they decide to liquidate or resell their holdings.

Effectiveness: thriving financial markets consolidate operations, lowering transaction and information costs.

Financial Institutions

Financial institutions are institutions that participate in the creation and/or exchange of financial assets; they are divided into the following four categories:

Financial intermediaries include Brokers, Dealers, Investment Banks, and Traders (Mishkin, p. 3, 2006).

A broker is a commissioned agent of the buyer or seller whose responsibility is to identify a buyer or seller of financial assets in order to execute the transaction. Brokers profit from the commissions they collect on all completed transactions; the most prominent examples are real estate brokers and stock brokers.

Car dealers and dealers in the United States are examples of dealers who perform the same function as brokers by bringing together buyers and sellers. However, dealers profit not through commissions like brokers do, but rather through sales profits, as they purchase assets at a relatively low price and sell them for a relatively higher price. Government securities, etc. Dealers, unlike brokers, maintain stocks and are obligated to provide consumers with quality products or assume responsibility.

Investment Banks aid in the initial selling of newly issued securities, such as Initial Public Offerings (IPOs), by providing advice, underwriting, or sales support to the interested parties in order to guarantee that they make decisions based on accurate and sufficient information.

Financial Intermediaries engage in financial assets transformation in that they purchase one type of financial asset from a large number of agents using debt contracts and lend to a large number of consumers and firms using debt contracts as well. A substantial portion of the borrowing on the liability side is in the form of demand deposits, which have the important property of being a medium of exchange (Gorton & Winton, p. 2, 2002).

Institutions Financial and Moral Danger

In order to adequately contribute to wealth creation in any economy, every financial institution strives to be a leader in the transfer of wealth from lenders to borrowers. However, moral hazard could creep in, allowing one party to take advantage of the ignorance of the other. Examples include:

Financial bailouts of lending institutions by governments would primarily encourage riskier lending in the future, as some may feel justified in taking risks if they believe they will not bear the full responsibility in the event of losses. This occurs most frequently with large institutions whose reputations are so strong that they can engage in risky loans that will likely pay off handsomely if the deal is successful. However, if the investment turns sour and there are losses to be incurred, the tax payer must step in to rescue the situation, though this may be for the long-term good of the economy. These large institutions that engage in massive investments involving lenders and borrowers contribute significantly to the creation of wealth in any economy, and being bailed out in cases where the investments fail would ensure steady economic growth, although small businesses that would not receive the same benefit may find it unfair.

Moral hazard can also occur with borrowers; as a result, credit card companies in the majority of economies regulate or limit the amount a cardholder can spend in order to prevent or minimize reckless spending of borrowed funds. Credit card companies are aware of the temptation that these cards present and therefore act to prevent losses that may result from the holders' failure to honor or any other irregularity that may disrupt the payback procedures. Brokers, who do not lend their own money, would push risk onto lenders. Lenders, who would sell mortgages shortly after underwriting them, would then push risk onto investors. Investment banks would then purchase mortgages and slice mortgage-backed securities into slices, some riskier than others (Summers, financial times, 2007). "In a purely capitalist scenario, the last one holding the risk is the one who faces the potential losses; however, during the 2007–2008 subprime crisis, national credit authorities in the United States, the Federal Reserve, assumed the ultimate risk on behalf of the general public" (Summers, financial times, 2007). The bailout completes the moral hazard by covering a default induced by an individual or institution that does not accept full responsibility for their actions.

Negative Selection

The term derives its meaning from the insurance industry, where it is used to describe a situation in which an individual's demand for insurance is positively correlated with his or her risk of loss, i.e., higher risks purchase more insurance, and the insurer is unable to account for this correlation in the price of insurance, most likely due to private information only known to the individual (Polborn, pp. 327 – 354). The lack of information to some parties involved in the deal, say insurance, creates an imbalance in the trading, and to counteract its effects, insurance companies ask a variety of questions and may even request medical reports from people applying for insurance in order to adjust prices and reject those who pose a higher risk. Studies indicate that some adverse selection can be advantageous since it may result in a greater proportion of overall population losses being covered by insurance than if there were no adverse selection (Akerlof, p. 488 – 500, 1970). This implies that with adverse selection, some individuals would invest in ground-breaking fields who otherwise would not, hence increasing the volume of trade in these regions and bolstering their economies.

It is believed that adverse selection occurs when buyers or sellers would, on average, be better off trading with someone selected at random from the population than those who volunteer to trade. Take the example of used car markets, wherein equilibrium it could be that the used cars that enter the market are not a random selection from the population of used cars, but rather the worst ones (Howells & Bain, pp. 35 – 40, 2007).

Financial Market Architecture

The four fundamental architecture of financial markets include auction markets, over-the-counter markets, organized exchanges, and intermediation financial markets (Mishkin, p.3, 2006).

Auction market refers to a public clearing house in which buyers and sellers execute trades through their commissioned brokers in an open and competitive bidding process. The process is not limited to physical meetings, but includes any arrangement that gives access to the bidding process to both the seller and the buyer; for example, interactive websites that facilitate auctions through a networked system of computers.

Over-the-counter markets lack a centralized mechanism or facility for trading. Instead, they are a public market comprised of a number of dealers dispersed across a region, country, or even the globe, who make the market in some type of asset. These dealers post bid and ask prices for the asset and then stand ready to buy or sell units of the asset."

Malaria In Sub-saharan Africa Writing An Essay Help

Malaria is a major cause of ailment, resulting in approximately 243 million incidents of clinical malaria and claiming 863 thousand lives (World malaria report, 2009).Most of these cases occur in Sub-Saharan Africa and prevalence is high among children(WHO,2010). The World Health Organisation (WHO) advocates the use of indoor residual spraying (IRS) or insecticidal treated nets (ITNs) for vector control, immediate diagnosis and treatment of clinical malaria and Intermittent Preventive Treatment in pregnancy (IPTp) for pregnant women in high malaria area. The treatment involves administration of at least 2 dosages of sulphadoxine-pyrimethamine (SP) during the last two trimesters of pregnancy((WHO, 2010a)

Plasmodium parasites give rise to Malaria. Infected Anopheles mosquitoes are the vectors that disperse these parasites by means of bites, especially during the night. The severity of spread depends on aspects associated to the vector, the parasite, the human host, and the environment. Plasmodium falciparum, vivax, malariae and ovale are the common types of parasites occurring in humans. Out of these Plasmodium falciparum and vivax are the most common and plasmodium falciparum is the most fatal (WHO, 2014).

Malaria is common in Sub-Saharan Africa because of poverty and climatic conditions which are favourable for both the anopheles mosquito and the malarial parasites to multiply (Sachs&Malaney, 2002).

TANZANIA

The United Republic of Tanzania includes both the Mainland and Zanzibar and has a population of 37.4 million (WHO, 2012) of which 90% of the population is at risk of getting malaria as mapped by Mapping Malaria Risk in Africa (MARA) (Le Sueur et al, 1998) The country is on number three after Nigeria and the Democratic Republic of Congo in terms of risk of stable malaria (5MARA-lite software).

Malaria threatens the health and financial wellbeing of Tanzania with 120,000 deaths annually of which 70,000 are children under five years .The yearly incidence rate is 400’500/1,000 people and is twice as much for children below five years(Ministry of Health,2003). Malaria accounts for the loss of productivity in 15-56 age groups and is a hindrance to the learning capacity of people between 5 ‘ 25 years of age (WHO, 2002) .It also deters foreign investment.

Tanzania is among impoverished countries with a GDP of 280 USD (2004) and 36% of the population living below the poverty datum line (National Bureau of Statistics, 2003). Malaria accounts for 3.4% of the GDP annually and every $2.14 of $11 budgeted for every person for health per annum is spent on malaria(Ministry of finance Tanzania,2001).The expenditure is proportioned to 75%, 20% and 5% by households, government and development partners respectively(Jewett et al,2000). At household level, 30 percent of the expenses are used for anti-malaria drugs and 50% for mosquito nets, insecticides, coils, and other prevention measures (Ministry of finance Tanzania, 2001).

MULTILEVEL FRAMEWORK APPROACH

It promotes understanding of how health determinants at different levels operate and how they are interrelated. These levels are at either individual, household, community, national/provincial or international .It also helps to understand the factors underlying the impact or success of policies and programmes designed to address these problems((WHO, 2010b) .This knowledge can be applied to shape and inform health policies and interventions at different levels.Overally,it helps individuals to understand that health is not merely a medical issue but there are more social issues involved.

INDIVIDUAL BIOLOGICAL DETERMINANTS

Age

The younger you are the more vulnerable you are to malaria. This has been shown in children less than five years of age in several studies done in different countries with high prevalence of malaria.48 independent studies revealed that malaria is the main cause of death in children less than five years in Africa including Tanzania. They deduced that the occurrence of parasites among children was more than twice the cause of mortalities((Breman et al., 2004)

In the period 1982 to 1989 deaths in children under five years old rose from 31 to 55 per 1,000 with a parasite prevalence range of 18% to 95%.From 1990 to 1999, mortality cases in children below five years grew from 8 per 1000 to 44 per 1,000 over an array of prevalence of 0’95 %.( Snow et al., 2004). Van Geertruyden and others reviewed 117 studies which showed that the perinatal mortality rate (PMR) was 61.1 per 1,000 infants and 25.8 per 1,000 infants in malaria prone and non-malaria prone nations respectively(van Geertruyden et al.,2004).Likewise, the foetal mortality rate was more pronounced in malaria-prevalent countries.

Sex

The literature on the occurrence of malaria among males and female is inconsistent and it varies according to where you get the information, either from the health facility or from the community. For instance, a study in Thailand established that the male to female proportion of malaria incidence was 6:0 in a clinic and 1:0 in the community (Vlassoff&Bonilla, 1994). Overally, sex seems not to be directly linked to malaria susceptibility apart from pregnancy, so male and females are equally susceptible to malaria.

Pregnancy

In malaria afflicted zones, expectant mothers have reduced resistance to malaria especially during the first 2 pregnancies. This is attributed to increased clinical episodes, pregnancy related anaemia, morbidity and death (WHO, 2002). The sequestration of parasites in the placenta results in babies being underweight at birth, undesirable effects on lactation, higher incidents of miscarriage and stillbirth (Sharp&Harvey, 1980).Pregnant women are more vulnerable to malaria than non-pregnant women.

Immunity

The extent to which resistance to malaria is attained by individuals living in malaria endemic areas varies according to the level of exposure and genetically determined immune response (Trape & Rogier, 1996). In regions of high constant spread of malaria, the frequency of clinical malaria reaches its pinnacle during the first five years of age, and then reduces drastically as efficient immune reactions develop(Sachs&Malaney,2002;Trape&Rogier,1996) Where malaria prevalence is less , the peak age occurs later in childhood . In low-infection or malaria prone areas, susceptibility to malaria remains the same in all ages because protective immunity is never acquired (Sharp&Hervey, 1980; Kleinschmidt&Sharp; 2001). Resistance is not permanent and is lost when there is no repeated exposure to infections.

Co-infection with HIV increases the degree and severity of malaria infection. Despite initial studies suggesting no association between malaria and HIV infection, there is emerging evidence of an important relation, particularly in pregnant women. HIV infection may interfere with pregnancy-specific immunity acquired during first and second pregnancies and increases the chance of parasitaemia and placental malaria (Skeketee, 1996; Verhoeff, 1999). There is also a growing body of evidence that non-pregnant HIV-positive individuals are more vulnerable to malaria infection and to severe disease than those without HIV infection and that this susceptibility is related to the degree of immunosuppression (French, 2001; Grimwade, 2003; Shaffer, 1990; Whitworth; 2000).

Genetics

Genetic makeup has an influence on the level of immunity an individual develops to counter malaria infection. The Fulani ethnic group for example, has less parasitaemia and malaria ailment and more malaria antibody titres than other equally vulnerable groups living in the same region (Modiano et al,; 1999; Riley et al,; 1992). In malaria- endemic areas, there is a high occurrence of genes that cause red-cell irregularities like sickle-cell disease and glucose-6-phosphate dehydrogenase deficiency. However they offer a selective benefit of protection against malaria mortality (Aidoo et al, 2002). HLA B53 and MHC antigens have been associated with defence against severe illness and reduced vulnerability to malaria fever respectively (Hill et al,; 1991).

INDIVIDUAL SOCIAL DETERMINANTS

Health seeking behaviour

Factors such as culture norms, society, literacy level, educational attainment shape a person’s health seeking habits. In the case of the Bondei people who are situated in north-eastern part of Tanzania, mothers and cohabiting relatives are often the first to observe a possible illness in children. They also determine whether the ailment warrants medical or traditional treatment. Fathers as the sponsors have the final say in determining the treatment choice. (Oberlander and Elverdan, 2000). This shows how health seeking behaviour can be influenced by the people around you and culture. Women in general tend to visit the hospital more often; the only problem is when they don’t have the means in terms of finance or approval from the husbands. Men tend to seek treatment when they are in a critical stage, mainly because of their ego. Pregnant women and children are given first preference and they tend to go the hospitals more often.

Education versus Knowledge

If someone is educated it doesn’t mean he or she is knowledgeable. Education is attained and knowledge is acquired. Someone might have tertiary education but might not have knowledge on malarial disease. Bates and others went on to explain that if an individual has knowledge on malaria transmission, its clinical features and the appropriate use of the drugs then they are able seek appropriate prevention measures and treatment( (Bates et al., 2004). Adult literacy rate in Tanzania from 15 years of age and above is at 72, 9 and for women alone it’s at 67, according to World Bank in 2009.Majority attend primary education and a few attend secondary and tertiary education. Due to poverty, majority of the parents cannot afford to pay fees so most girls drop out to get married. (UNESCO, 2009).Most women in Tanzania despite being uneducated, have the knowledge on appropriate preventative measures. Some mothers in a community in Ethiopia with limited educational background were able to make a marked decline in mortality rate among children below 5 years of age when they were given information about appropriate anti malarial drugs(Kidane&Morrow,2000). Nevertheless if you are educated you generally make informed and better decisions. There is also some evidence that educated parents are more likely to seek formal treatment when their child gets malaria symptoms, which will reduce the risk of progression to severe disease (Filmer, 2001)

HOUSEHOLD SOCIAL DETERMINANTS.

Household size

Use of ITNs is one of the control measures in the prevention of malarial transmission especially in children. Tanzania is one of the poor countries and majority of the people especially in the rural areas cannot afford the nets. This is worsened if there are many children living in the same house which means a few will benefit and it’s usually the parents. As mentioned earlier, children are more vulnerable to malaria and without the nets the vulnerability is increased. Data from household surveys conducted in 30 malarious African countries between 1998 and early 2002 showed that only Guinea Bissau met the 60% target coverage with ITNs defined for Africa in the Abuja Summit on Roll Back Malaria in 2000(Monasch et al, 2004).In 23 countries, Tanzania included ITN use for children under five years old was at or less than 5%, with an overall median use of 2%(Monasch et al, 2004). It is interesting to note that in some communities with high ITN use rate, reason was that they had a small household size with two or less under fives sharing their parents’ bed (Ordinioha, 2007). Having many children in a house result in many of them sleeping on the floor without ITNs and smaller families are more likely to afford ITNs.Another element noted was that large household size tend to be overcrowded and this result in higher concentrations of carbon dioxide and other chemicals which attract mosquitoes and the probability of mosquitoes infecting more than one person during the same night is also higher(Ghebreyesus,et al,;2000).In conclusion a larger household size increase vulnerability to malaria.

Socioeconomic status

Malaria is strongly associated with poverty as parasite prevalence is known to be higher in poorer populations in rural areas (WHO, 2012). People with low socioeconomic status are at a greater risk of malaria infection, 58% of the cases occur in the poorest which is 20% of the world’s population .Besides being at a greater risk they also receive the worst care and endures the severest economic consequences from their illness(Breman,et al,2004).There is a strong relationship between wealth and treatment-seeking behaviour at household level, with children from richer families being more likely to seek medical care and appropriate treatment(Filmer et al,2001).Ownership of bed nets is more common among wealthy households and is closely linked to socioeconomic status(Hanson et al,2000). Several studies in Gambia, Congo and Cote d’Ivoire have shown the relationship between socioeconomic status and risk of malaria transmission. In the Gambia, Clarke and colleagues(Clarke et al,2001) found that the prevalence of malaria declined significantly with increasing wealth, from 51% in the children in the poorer families to 33% in the wealthier households. In the Congo,Tshikuka and others(Tshikuka et al.1996) found that malaria prevalence was higher in two low socioeconomic status area(77 and 69% versus 34%).In Cote d’Ivoire,Henry etal.(Henry et al,2003) found that age standardised annual malaria incidence rates were higher in low socioeconomic status communities(0.8 and 0.9 versus 0.6).

Gender

The term ‘gender’ refers to the different behaviour, roles, expectation, and responsibilities all women and men learn in the context of their own societies. Women and men of different ages, marital status, and socioeconomic status have different vulnerabilities influenced by a complex interaction of social, economic, and institutional factors. Gender can therefore affect disease exposure as well as treatment-seeking behaviour and adherence to treatment (Bates et al, 2004). Stereotyped gender roles can also influence how women and men are treated by the health-care system during diagnosis and treatment processes and therefore their vulnerability to progressing to severe disease((Bates et al., 2004).

Gender disparities in social norms like men in India sitting outside in the evenings or occupations such as male loggers in Thailand can cause increased exposure to malaria (Vlassoff&Bonilla, 1994).Most women in Tanzania are prepared to invest in preventative measures such as mosquito nets than men but they don’t have the finances or decision making power to do so. They lack control over household resources and this hinders their ability to seek malaria prevention control measures and treatment.(Lampietti et al,;1999;Livingstone,2003) .Women are also primary care givers to malaria afflicted relatives and children and this has a huge impact on their livelihoods, they end up not having time to take care of themselves or seek treatment .They also have high chances of getting malaria because it can be transmitted from the sick relative to them(Tolhurst &Nyonater,2002). This combination of factors tends to make women more vulnerable than men to the consequences of malaria (Bonilla&Rodriguez, 1993).

COMMUNITY SOCIAL DETERMINANTS

Access to quality health services

Health service weaknesses contribute to high costs in many countries, and include low coverage, user charges, and poor quality of care. Solutions lie in expanded access to high quality, carefully supervised preventive and curative health services (Breman et al, 2004). In the rural areas of Tanzania there is poor quality of health services which includes the inaccurate diagnosis of malaria, lack of skilled health workers and unnecessary use of antimalarial drugs. Vulnerability to malaria in these areas is very high with poor health outcome .It is widely recognized that accurate laboratory-based diagnosis of malaria is central to guiding proper clinical decisions and reducing the use of unnecessary antimalarial drugs (WHO 2004;Wongsrichanalai et al., 2007). Despite this fact, the quality of malaria diagnosis at health care facilities in rural Tanzania is generally poor due to limited skill of laboratory personnel and a lack of essential supplies (Ishengoma et al., 2010). Therefore malaria treatment in most remote areas is based on clinical judgement. According to NMCP, up to early 2009, 83% of health facilities in Tanzania had no laboratory diagnostic capacity for malaria in terms skilled labour force and equipment. Patients were at risk of inaccurate malaria microscopic diagnosis and hence misdiagnosis (Wongsrichanalai et al, 2007)

Urban-rural differences:

People living in urban areas are on average 10 times less likely to receive an infective bite than their rural counterparts (Hay et al. 2000; Robert et al. 2003; Trape et al. 1992) .Malaria transmission in the urban area of Dar es Salaam, capital city of Tanzania, is less intensive than in peri-urban and rural areas. This is illustrated by significantly lower percentages of school children infected with malaria parasites (mainly P. falciparum) and living in the urban areas (2’10%) compared with those living in the peri-urban and rural areas ,40% and 70%, respectively.( JICA, unpublished data). The number of breeding sites for malaria vectors in urban areas is reduced because of well-structured drainage networks during malaria control programs (Utzinger etal, 2002; Knudsen etal, 1972).This has protective effect on urban dwellers. Another difference is the dissemination of information about malaria to people in rural and urban areas. A large proportion of the rural population in Tanzania have limited access to information about the signs and symptoms of malaria, risk groups, need for immediate malaria treatment, and malaria prevention techniques (Robert et al, 2003). Thus there is an urgent need for the intensification of communication on malaria in the rural areas. All these factors result in increased vulnerability of malaria in rural population.

Lack of trained health personnel

Another challenge is the human resource crisis in the health sector in Tanzania. It is estimated that currently there is a 65% gap, which means that only 35% of qualified staff are available (Makundi et al, 2005), if we compare the available personnel and Ministry of Health minimum required standards (Ministry of health, 1999) .Tanzania has the lowest ratio of health personnel per capita in sub-Saharan Africa (Oystein et al, 2005).There is urgent need for training and recruitment of skilled personnel. This situation was worsened by the burden of HIV/AIDS which claimed lives of some health workers and also doubling of duties of the few trained health workers available. In some rural health facilities especially the remote areas of Tanzania there are no qualified staff, simply because workers prefer working in urban areas where there is good infrastructure. Another explanation could be lack of motivation in terms of incentives to lure them to rural areas. At district level, malaria control programmes are under district health officers who also have other duties, so in situations of other health crisis, malaria interventions are given low priority (Makundi et al, 2007).Overally, lack of trained health personnel in Tanzania has had a negative impact on the health outcome of the population.

Quality or type of housing

It has long been established that the transmission of many vector-borne diseases is facilitated by house designs that favour mosquito entry(Webb,1985;Kumar et al,2004) and that housing improvements and screening have made substantial contributions to the control and elimination of malaria vectors in many richer countries(Lindsay et al,2002). Therefore, understanding house risk factors that are associated with reduction of indoor mosquito bites and disease transmission in different settings is crucial for disease vector control and elimination. Several studies have identified and documented various house characteristics associated with mosquito entry. Presence of eave gaps, lack of a ceiling and lack of screening over windows and doors proved to be the major contributors to mosquito entry (Lindsay&Snow, 1988). Furthermore, it has been shown in a randomised control trial that blocking all potential house entry points for mosquitoes substantially reduces vector densities and entomological inoculation rates (EIR) (Kirby et al,2009).

A recent study in Northern Tanzania had findings which were consistent with the above studies. It showed a strong association between type of housing and malaria transmission. Houses made of mud walls and grass roots had an increased risk of mosquito bites indoors, such houses created a favourable environment of the resting mosquitoes. Another thing is that they have crevices used by mosquitoes to enter unlike cement walls and metal roofs. Smaller houses with relatively low numbers of windows, doors and rooms were associated with high densities of mosquitoes. It was assumed that smaller houses are likely to concentrate more human odours, which would attract high number of mosquitoes (Lwetoijera et al, 2013).

NATIONAL SOCIAL DETERMINANTS

Poverty

Malaria is a major cause of poverty and slows economic growth by up to 1’3% per year in endemic countries (Sachs&Malaney, 2002).A nation of low GDP and widespread poverty has limited resources for malaria prevention. Spraying programs have proved effective in lessening the disease’s impact however they require resources to implement. Death rates also rise because drug treatment costs money. Individuals incur debt quickly when dealing with medical costs, drug fees, and multiple family members being repeatedly infected with the disease. When the work force is continually on medical leave and government is drained of resources attempting to combat the disease, an economy will suffer. That is why it has been difficult to eliminate malaria in Tanzania because all the prevention programs require millions of dollars to be effective and yet the country is one of the poorest with low GDP. The burden of malaria is greatest especially among the poor, given the vicious circle of poverty and ill health (Sachs&Malaney, 2002).

Policies

Policies on social determinants of health are important because they help to reduce health inequities. With policies in place it is possible to(i) identify programmes which target disadvantaged populations ,for example under fives or pregnant women;(ii)close gaps between the poor and the rich people and( iii)address the social gradient across the whole population( WHO,2010).

Health Policies

The National Malaria Control Program (NMCP) in Tanzania proposes policies and guidelines to the Ministry of Health and Social Welfare through the Malaria Advisory Committee (NMAC) (Ministry of Health, 1999). Policy of decentralization of malaria interventions to district levels has not been effective due to weak health systems and limited capacity (Makundi et al, 2007). The process of decentralization was meant for districts to have more power in decision making in terms of malaria programmes so as improve the quality of health service in the community and also decrease the burden of malaria in the rural population. Morbidity and mortality due to malaria in the communities of Tanzania remains high because of poor interventions.

Another health policy was use of effective control tools such as ITNs as part of the NMCP strategic plan. Emphasis was on children under 5 and pregnant women since they were the most vulnerable groups. However, coverage has so far been low, which indicated that less than 15% of households were using ITNs(Tanzania National Bureau of Statistics(TNBS),2005).This figure is low which shows that majority of the population are not using ITNs as one of the major control programs so vulnerability to malaria remains high especially to the riskier groups.

Education policies

Another strategy to mitigate against malaria burden in Tanzania was establishment of training centres to address the burden of malaria. Centre for Enhancement of Effective Malaria Interventions (CEEMI) was established in 2001 to strengthen the capacity for malaria control through training by providing needed skills for identifying and solving malaria control problems. So far, the CEEMI has undertaken a number of training sessions involving district health officers as focal persons for control activities(Ijumba&Kitua,2004).It is important to note that the CEEMI has undertaken malaria seminars to sensitize members of parliament in Tanzania to increase advocacy for malaria control initiatives by policy makers, thereby increasing financial resources from the national budget that target malaria activities(Makundi et al,2007).This will improve the health outcome of the population in terms of more trained health personnel, more knowledge and increased awareness of policy makers.

Drug policies

Introduction of artemisinin-based combination therapy (ACT) is another challenge facing Tanzania. Tanzania introduced ACTs in November 2006. One key issue is the cost of ACTs, which are 20 times higher than the cost of conventional therapies ($2.44 per adult dose). The monthly income in a study in a rural area in Tanzania was $13(Jewett et al, 2000). This finding shows that the amount spent on malaria treatment is 10% of the total household income (Tanzania National Bureau of Statistics, 2000/2001).This means that the poor are at a greater disadvantage as they can’t afford the drug. Other conventional drugs e.g. Sulphadoxine pyrimethamine (SP) have 20-60% resistance to malaria and this has never been observed in ACT (Breman et al, 2004).It has been highlighted by many investigators that the cost effectiveness of ACT can be appreciated over a certain time period of 5, 10 or 15 years.Besides being expensive there are also other issues regarding shortages of ACT which are high demand and limited production. This shortage was reported by the World Health Organization in 2004, and Knuming Pharmaceuticals in Yunnan, People’s Republic of China, the only supplier of artemether, indicated that it could not produce enough of this drug to cope with the increasing demand (Makundi et al, 2007).It is best to ensure that ACT is available and affordable with the help of the government before advocating a policy because poor people will end up being disadvantaged.

Politics

Politics in Tanzania manipulates allocation of resources to suit particular interests. This allocation depends on who is in power and what are his/her interests. Resources are never allocated according to priority. During elections many promises are made and health facilities are built in many constituencies to suit the needs of the electorate. There is no coordination between construction activities and recruitment of qualified personnel .This result in districts being forced to distribute the existing limited human resource to new facilities. Workers are therefore overburdened and some facilities will end up functioning with unqualified or inadequate health personnel. Policy makers should work with researchers who have authentic data to support their decisions and avoid mere promises merely to impress people. Correct and timely information must be available to all participants, including communities, the media, and political leaders, to avoid distortion of information in the implementation of interventions. A certain level of diplomacy is required in handling the politics of disease control programs (Makundi et al, 2007).

Media

Media can increase vulnerability to malaria of certain populations if not controlled. For example, there is aggressive advertising on the use of ITNs in Tanzania which may give a misconception that the use of ITNs is 100% effective. It should be clearly indicated that other strategies are equally important (Makundi et al, 2007).Data from the Tanzania Demographic and Health Survey in 2005 indicate that coverage of ITNs is 14% in rural areas and 47% in urban areas (National Bureau of Statistics, 2005).The use of ITNs should be emphasized, but the same emphasis should be made for other PMC strategies including indoor residual spraying (IRS).

GLOBAL SOCIAL DETERMINANTS

Migration /Travellers

One of the factors contributing to the increasing burden of malaria is human migration into Tanzania. Malaria transmission has been shown also to be related to human population movement from low risk areas to high risk areas and vice versa. Reports of the malaria burden in Tanzania are increasing and are originating from places thought to be free of malaria, such as the southern and northern highlands (Makundi et al, 2004).Some factors that cause people to move most often, such as environmental deterioration, economic problems, and natural disasters, greatly affect the poor. Understanding and identifying the influence of population movements can improve prevention and control programs.( (Makundi et al., 2007)

Human population movement (HPM) from higher transmission areas result in reintroduction of malaria in malaria-free zones, thereby undermining elimination efforts (Cohen et al, 2012). In non-elimination settings, its best to understand the parasite pattern, the origin of the imported infections and the hot spots of transmission in order to plan effective control measures (Wesolowski et al,2012).In addition to all these problems,HPM has contributed a lot in spreading the drug resistant parasite strains(Lynch&Roper.2011;Roper et al,2004). Strategic control and elimination plans should therefore be built on a strong evidence base including information on HPM and likely parasite movement volumes and routes (Wesolowski et al, 2012). Moreover, identifying key demographic groups most likely to carry infections can provide useful information for tailored and targeted intervention and surveillance efforts (Cotter et al, 2013).

Global financing aid

Tanzania is one of the poorest countries as mentioned earlier on and relies on donor funding. It is worth noting that for some years in Tanzania, there has been a growing global and national political commitment to mitigate against the burden of malaria stimulated by the Roll Back Malaria Partnership and the Global Fund to fight acquired immunodeficiency syndrome (AIDS), tuberculosis (TB), and malaria( ).This has improved majority of the people’s health outcome. Giving an example of how malaria control programmes were financed in Zanzibar, popular resort area in Tanzania in trying to help eliminate malaria. Morbidity and mortality in Zanzibar was reduced by 75% in 2009 compared to 2000-2004.This drop was as a result of scale-up of ITNs,IRS and ACT from 2004 with the help of PMI,USAID,UNICEF,WHO,Global Fund and World bank. They donated half a million ITNs during 2007-2009 enough to replace old nets for the entire population at risk, implemented IRS for several rounds protecting 90% of the population and also delivered ACT. Detailed funding information was not provided but expenditure on malaria in 2009 was US$ 450 000 mainly funded by PMI and UNICEF(World malaria report.2010).The only problem comes when they pull out or when they decide to give priority to other programmes like HIV/AIDS interventions. This is a huge problem when it comes to Tanzania because it relies on donor funding and this affects the health outcome of the poor because they rely on the government which is already poor.

CONCLUSION

Tanzania has high morbidity and mortality rates caused by malaria. Effective preventative control measures have been set up by the National Malaria Control Programme (NMCP) in trying to mitigate the burden.However, there are many challenges facing the country in terms of implementation and intervention of the programs. Given the renewed global and national commitment efforts to fight malaria, there is still hope for Tanzania to eliminate Malaria.

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Lindsay SW, Snow RW: The trouble with eaves; house entry by vectors of malaria. Trans R Soc Trop Med Hyg 1988, 82:645’646.

Makundi,E.A.,Mboera,L.E.G.,Malebo,H.M&KITUA,A.2007.Priority setting on Malaria interventions in Tanzania: Strategies and challenges against the intolerable burden. The

American Society of Tropical Medicine and Hygiene, 77, 6.

Cohen JM, Smith DL, Cotter C, Ward A, Yamey G, Sabot OJ, Moonen B:Malaria resurgence: a systematic review and assessment of its causes.Malar J 2012, 11:122.

Wesolowski A, Eagle N, Tatem AJ, Smith DL, Noor AM, Snow RW, Buckee CO: Quantifying the impact of human mobility on malaria. Science 2012,338:267’270.

Lynch C, Roper C: The transit phase of migration: circulation of malaria and its multidrug-resistant forms in Africa. PLoS Med 2011, 8:e1001040.

Roper C, Pearce R, Nair S, Sharp B, Nosten F, Anderson T: Intercontinental spread of pyrimethamine-resistant malaria. Science 2004, 305:1124.

Cotter C, Sturrock HJW, Hsiang MS, Liu J, Phillips AA, Hwang J, Gueye CS,Fullman N, Gosling RD, Feachem RGA: The changing epidemiology of malaria elimination: new strategies

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WMBA 6000-13 Topic: Course Evaluation essay help site:edu

WMBA 6000-13

Topic: Course Evaluation

Date: March 2, 2014

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

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

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

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

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

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

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

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

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

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

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Family presence during CPR (cardiopulmonary resuscitation) instant essay help

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

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

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

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

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

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

1. The number of people allowed to be present

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

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

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

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

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

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

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Respondeat Superior extended essay help biology

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

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

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

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

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