Research Korner: Business Essay Samples

SWOT Analysis of Dell Computers Inc.

DELL SWOT ANALYSIS         Dell is one of the largest PC hardware, software and computer peripherals manufacturer based in Round Rock, Texas United States founded by Michael Dell at the age of 19 in 1984. Since then Dell Company has revolutionized the fast pace computer technology that continues to developed and distributed around the world, they have joined the league of the top fortune 500 companies in 1992 Michael Dell being the youngest Chief Executive Officer receiving international recognition and worldwide penetration and distribution recognized as one of the leader in the industry.       During 1995 they have expanded around the world with its worldwide distribution partners in Asia, Australia, Europe and America that generates millions of dollars in sales every single day in their operation that makes this company even more prestigious and dominating. Since then they always belong to the top 10 PC manufacturer around the world because of the continuous demand of the people, Dell has promised its continuous effort to meet its demand. For 27 years of their operation customers has always been satisfied with their products and services.       During the year 1996 onward they continue to expand their manufacturing sites from various countries including China, Brazil and the United States. By the year 2000 they have an average sale of $4million US dollars every day that makes them the number 1 in worldwide sales and production in the year 2001. They have continued to develop various products including giant industry servers, fast laptop, printers, including cell phone and other featured products that correspond to the needs of their customers.        To summarize here is the present Dell SWOT Analysis:       STRENGTH – Being one of the largest distributors and manufacturer, the strength of DELL is their market leadership and distribution control that they have penetrated strategic points and locations that raises the confidence of the people to buy their brand because of its name. The Dell Company’s strength and advantage is that they have strong manufacturing partners, the PC components are made by their suppliers this means that most parts purchased by customers are also included in their gross revenues. If a certain customers would like to assemble a PC rather than buying a new one, Dell can still control the sales and this is their advantage. They have a total control of the specification and parts that also comes from their company manufactured by their suppliers using a generic brand name which is lower than the usual brand.            WEAKNESS – Somehow their strength can also be their weaknesses if certain manufacturing partner has not completed their demand or has not followed certain production specification in certain country there might have been delayed in operation. This happens in 2004 that they have the need to recall about 4.4 million laptop adapters because of the manufacturing problems that it may overheat and may cause fire and shock hazards. This will result in getting a new parts imported from other countries that may add the cost or shipment, although delay in supplies never usually happens only in the occurrence of environmental condition such as typhoon, earthquake, tsunami etc.       OPPORTUNITIES – As long as there is a demand Dell Company will continue to develop the products that the customers want they may even lavish in their production that they can set trends to new standard in various PC products. Also during the year 2004 to 2007 Kevin Rollins being the president of the company has temporarily replaced Michael as the new Chief Executive Officer and Michael Dell remained as the Chairman of the company. Rollins also did a great job employing approximately 50,000 workers worldwide during his term. This change in position makes the company even more powerful since the unification of their great marketing minds will surely lead the company to more success in their future operations. Another opportunity that they can see is the consideration of distribution and expansion of manufacturing sites that they may think about the third world countries that also has a strong demand and has realized the needs for technology.             THREATS – One of the most alarming threats they may have faced is the competition from other giant manufacturers and distributors including IBM and Hewlett Packard who have established outsourcing from other countries that can also create a powerful appeal to customers in terms of services. The entry of the new players is also booming like ASUS, Logitech, A4tech and other small manufacturers are paving its ways to success. There are also various companies that are locally manufacturing various peripherals that have a very competitive price advantage over leading brands that slowly increasing demand from various costumers who prefer low priced products. The constant change in price has also becoming a threat and this is due to inflation and world currency rate from various countries is also one of their disadvantages and threats over the small player.   References: http://content.dell.com/us/en/corp/our-story-company-timeline.aspx                                                                                                                  http://www.ehow.com/facts_5273511_dell-swot-analysis.html                      http://en.wikipedia.org/wiki/Dell

SWOT Analysis of Dell Computers Inc.

DELL SWOT ANALYSIS Dell is one of the largest PC hardware, software and computer peripherals manufacturer based in Round Roc...

WOOLWORTHS LIMITED CURRENT TRENDS AND EMERGING ISSUES

WOOLWORTHS LIMITED CURRENT TRENDS AND ISSUES         Woolworths limited comprises of 3000 Supermarkets that offers a guaranteed quality services to every customers that enters in their store premises, therefore they need quality individuals to take care of their customers and the products they are offering. Woolworths limited has done a good recruitment process of hiring multi cultural and diversified rooster of employees all over Australia to work on their company. They employed more than 150,000 workers inside their store premises.       This company has focus on partially disabled individual as a worker they do not discriminate such disability to perform well; in fact they have trained them to become a part of their labor force which is more disciplined and hard working. They are able to comply with customers demand in spite of their conditions. On the other hand they are given an equal opportunity treatment that they deserved. In many years these employees has been an asset in their company. Hiring those people has been their corporate responsibility.       This multi cultural diversity of employees has somehow manages to develop a healthy atmosphere of respect and individual recognition and balance at work. Through this we can say that their people are their best assets. Human Resource Management has been very successful in managing and recruiting their employees.           Human Resource Management response is to come up and answer the public some necessary issues pertaining to the current situations they are encountering. They have come up with additional benefits for regular employees for the year 2011 till 2012, and they are pleased to offer a Share Purchase Plan (SPP) this project aims to give the employees an opportunity to become Woolworths Limited Stockholder to share the entire performance of the company. This means that they are given an opportunity to acquire ownership interest to the company.  All regular employees are eligible to purchase such plan as long as they are of legal age and the maximum shares they can purchase are 1000 each. Thus purchase of such plan is not mandatory but to the employees discretion. Such purchase is personal and non transferable for at least three consecutive years until they are employed.         This plan has been fully explained by Woolworths Limited to each and every employee who is interested to purchase such plan including consideration why they have to buy such plan, their opportunities and privileges and the risk involved. All in all this has been good news for regular employees.        Woolworth limited currently selects FIS prepaid card to become its prepaid provider for payment processing including purchases of customers and other transaction can be electronically processed using such technology. They have been using such technologies during the past years but this with FIS prepaid card. They have chosen such innovative and inexpensive way to deliver much quality services to all its customers throughout the country this selection makes it easier for the company to distinguish regular customers and employees. Currently FIS is processing about 250,000 card customers for Woolworth Limited. Employees can be easily trained to handle such technology easily and effectively and customer will experience fast and more convenient ways to shop in their stores or online.       Woolworths Limited Implements Workforce Optimization Software to deliver superior quality services to its customers in all its business undertakings, this software will provide all the information the company needs. This software will monitor the current situation from internal and external forces as well as analyze and protect customer’s privacy information. This will monitor and leverage employees and management efficiency and will unify the solution of the problems that may occur. And much more this will schedule employees on their work position and will record the call of customers accurately on real time. The software can manage employee’s interaction to customers and maximize employee’s performance. And improve the overall performance and day to day operation of the stores.       Woolworth Limited is doing their share to protect and held employees concern on the right track they are highly on the top of their priorities next to customers. This implicates a very strong foundation for employee’s strength and development that Woolworth Limited has been given. Employees must learn to take advantage of the technology and benefits they are receiving. And in return they must learn to give back to the company their part the quality service to customers they deserved. Human Resource Management and Staff have created such plans so that Employees can have a very comfortable and efficient working condition all throughout.       Woolworth Limited has plans of acquisitions from group of real estate assets on every part of Australia. This acquisition is reserved for expansion of new stores all over the country. This goes to show that employees can expect much more benefits from Woolworth Limited for the years to come.

WOOLWORTHS LIMITED CURRENT TRENDS AND EMERGING ISSUES

WOOLWORTHS LIMITED CURRENT TRENDS AND ISSUES Woolworths limited comprises of 3000 Supermarkets that offers a guaranteed quality ...

Use a global company :Coca-Cola

Coca-Cola is a global manufacturer, distributor, and marketer of non-alcoholic beverages. Coca-Cola sells syrups and concentrates to authorized bottling and canning operators. Coca-Cola has equity stakes in 20 percent of these operators. In addition, Coca-Cola sells fountain syrups directly to restaurants. The company also sells bottled and canned products directly to retailers. The company’s products include sparkling beverages, juices, and bottled water. Roughly 75 percent of the company’s revenue is international, and 53 percent comes from concentrate and syrup sales of Coke. Fundamental to Coke’s investment and long-term growth strategy are its marketing expertise, brands and bottling system. To support its brands and increase consumer awareness of its products, Coke makes significant investments in sales and marketing. To develop its brand strategy Coke’s global marketing force heavily invests in product and packaging research, developing targeted consumer advertisements and promotions and soliciting customer feedback. Coca-Cola also leverages its relationships with bottlers and local vendors, to create and implement local marketing campaigns. A strong force behind Coke’s global success is its ownership interest in and partnering with bottling and canning operations worldwide. The company maintains business relationships with three types of bottlers: ·         Independently owned bottlers, in which the company has no ownership interest ·         Anchor bottlers, in which the company has invested and has a non-controlling ownership interest ·         Bottlers in which the company has invested and has a controlling ownership interest Coke’s bottling companies /partners are large, geographically diverse, with strong financial resources for long-term investment – providing Coke with strong strategic business partners and local access on every major continent. Coca-cola in combination with its bottling partners has an extraordinary global distribution network that through economies of scale creates a formidable barrier to competition. Coca-Cola also has a large economy of scale in advertising expense, and the company’s strong brands provide a barrier to competition. The industry is very concentrated, with Coca-Cola being one of the largest companies. The barriers to entry are lower for generic products sold in grocery stores under private labels. Here the stores will be willing to allocate some shelf space to its private label products, and it is possible that if these are sold at a low profit margin and are well-received by consumers, then Coca-Cola’s bottlers may need to price its products cheaper, with the eventual result that Coca-Cola will need to drop its concentrate prices so that the bottlers can stay in business. On the other hand, even if consumer develops a taste for the private label product, it will likely only be available at that particular grocery chain, and the consumer will stick with Coke elsewhere. Another source of competitive advantage for Coca-Cola is its brand image. The Coca-Cola brand is known as authentic, optimistic, and part of the American lifestyle.             The Coca-Cola company has long been recognized as an organization with significant brand equity with over four hundred brands available in virtually every nook and cranny of the world. The flagship brand Coca-Cola soft drink has stood the test of time – over 120 years. In fact, Coca-Cola alone is recognized as the most valuable brand in the world by respected Inter-brand Corporation. Valued at over US $67 billion, the Coca-Cola brand has effectively become a part of modern world culture. Though its advertising campaigns have changed over the years, Coca-Cola has always stood for a “real” cola drink with authenticity. This identity has been built over the decades with consistent values and differentiated elements. Many competitors have taken aim at Coke, but the brand continues to command number-one position globally in ranking of brand equity. Benefiting from the pioneer advantage, throughout more than a century the Coca-Cola brand has pursued one single objective, now on a worldwide scale: to continue to grow the cola category. It was in the competition first with sodas in America, then with other soft drinks, and now with virtually all other types of drink, including water in Europe or tea in Asia. Coke’s brand essence is the refreshing bond between people everywhere. IN making its brand the number one drink in the world, it benefited from being made from a syrup that is easy to transport at low cost, with high efficiency. To grow the business through the expansion of the category, the strategy rests on three facets, which are always the same: availability, accessibility, attractiveness.

Use a global company :Coca-Cola

Coca-Cola is a global manufacturer, distributor, and marketer of non-alcoholic beverages. Coca-Cola sells syrups and concentrates to auth...

Effective Governance

Table of Contents Introduction   Overview of the Topic   Discussion             Definition of Effective Governance             Corporate Social Responsibility             Case Study Analysis Conclusions     Introduction Corporate Governance, is an act that helps regulate the corporate industries in order to ensure protection for the shareholders and also to regulate behavior and performance within a company. In this paper, we shall focus on the effects of good governance to a company’s performance and behavior, and also the theories that relate to this topic. Every business organization or company has different internal organizations, having a variety of functions. The internal organizations that comprise the whole business are interrelated and are working together to ensure the company’s success in profiting from the market. The more functions each of the organization perform; the better is the performance of the company as a whole. This gives each of the companies their corresponding advantages and benefits from the market and their consumers. Also, every company has a need to be overseen by something much greater. This is where corporate governance comes in.  In this paper, we shall view the different theories that are part in explaining and proving the connection between effective corporate governance to the behavior and performance of the company.   Overview of the Topic Competition, typically the most powerful external force, is increased by the advent of globalization. The number of companies and the number of countries where these companies operate and the way governments are dealing with the impacts of globalization is accelerating. The interaction of changes in government policy and business innovation has actually made globalization even faster. If a company does not become a global, it would simply be shut out of new markets. This is what pushed firms around the world to adopt Corporate Governance. Also, a company must be able to make contact with its consumers. According to most theories on strategic management, the customer is the ultimate judge of competitiveness; that is, by buying the products of a firm, the customer indirectly decides which firms will continue to exist and which firms will go bankrupt. (2002). The reasons for the turmoil are numerous: a sputtering economy, increased global competition, the implementation of new technologies that displace jobs, the deregulation of certain industries, and the general consolidation of other industries, such as banking and health care. Observers will see a continuing progression in the ruinous steps which have forced the industry into a socio-politico-economic corner. The industry is likewise linked closely to the policies of governments, the earnings of banks. The industry’s approach to dealing with political institutions has not always been brilliant. It tends to be good on technical issues, although it has not always fully presented the longer-term options, in order to make the choices and their implications clear.              Globalisation around the world – has been one of the most hotly-debated topics in international economics over the past few years. Rapid growth and poverty reduction in China, India, and other countries that were poor 20 years ago, has been a positive aspect of globalisation. But globalisation has also generated significant international opposition over concerns that it has increased inequality and environmental degradation. The most common interpretations of globalisation are saying that the world is becoming more uniform and standardized through a technological, commercial and cultural synchronisation coming from the West.  These perspectives equate globalisation with Westernisation.  However, there are other assessments that argue from viewing globalisation as the process of hybridisation, which gives rise to a global melange.             The process of globalisation is commonly recognised to be characteristic of contemporary international developments.  Contemporary processes of globalisation have several dimensions or faces: technological, cultural, religious, economic and political. None of these is in itself good or bad. All should be understood as ambiguous, with potential for good and evil, but in the current phase of globalisation it is important to distinguish the different faces of globalisation and identify with a potential to pursue the good. Globalisation implies two distinct phenomena. First, it suggests that political, economic and social activity is becoming worldwide in scope. Secondly, it suggests that there has been an intensification of levels of interaction and interconnectedness among the states and societies (1991). Among these relations are those created by the progressive emergence of a global economy, the expansion of transnationals links which generate new forms of collective decision-making, the development of intergovernmental and quasi-supranational institutions, etc. (1990). Consequences of globalisation are controversial and not necessarily positive. Severe questions rise about the accountability of such diverse international organisations and agencies as the International Monetary Fund (IMF) and North Atlantic Treaty Organization (NATO), which challenge the very idea of sovereign state. Globalisation is a term frequently used by many but is vaguely defined. One finds trouble in even finding two authors who defines globalisation in the same, exact way.  But even that being the case, there is no denying that global markets, in particular emerging ones, offer attractive potential. For many organisations it is the only approach for growth as existing markets mature with few chances for profitable opportunities. As global markets open through the increasing use of the Internet and with improved supply chains, it is likely that there are many untapped segments around the world that would open to a multinational company, regardless of the industry. More and more, the world is becoming an available global market place. To stop marketing activities at one’s home-base borders is not only arbitrary, but also short-sighted. International marketing is often defined largely in terms of the level of involvement of the company in the global marketplace, and export, multinational and global marketing are most widely considered. Multinational enterprises (MNEs) develop international marketing strategies in order to improve corporate performance though growth and strengthening their competitive advantage. However, MNEs differ in their approach to international marketing strategy development and the speed and the progress they make in achieving an international presence. In this paper, good corporate governance will be subjected to research. But before tackling the topic of good governance, first, one must define what corporate governance is.             “Corporate governance is the set of processes, customs, policies, laws and institutions affecting the way a corporation is directed, administered or controlled. Corporate governance also includes the relationships among the many players involved (the stakeholders) and the goals for which the corporation is governed. The principal players are the shareholders, management and the board of directors. Other stakeholders include employees, suppliers, customers, banks and other lenders, regulators, the environment and the community at large.” (2007).             In another definition, this time by Shann Turnbull, “Corporate governance describes all the influences affecting the institutional processes, including those for appointing the controllers and/or regulators, involved in organizing the production and sale of goods and services. Described in this way, corporate governance includes all types of firms whether or not they are incorporated under civil law.” (1997). Good corporate governance includes many aspects. One major aspect of corporate governance handles matters that are greatly concerned with “accountability and fiduciary duty”, making sure that policies and guidelines be followed so that protection of shareholders can be ensured. One other major aspect is “economic efficiency view”, in which, the corporate governance system’s main goal should be “to optimize economic results, with a strong emphasis on shareholders welfare.”(2007).   Definitions of Effective Corporate Governance             What is effective governance? Effective governance, in the context of this paper, may be defined as an act which enhances the overall performance of a firm, lessens the threat to the downfall of the firm and ensures the safety and continuity of the firm. According to Peter Little, there are expected outcomes of effective corporate governance. Some of them are: “• enhanced organisational performance • effective risk management • improved investor and stakeholder confidence • enhancing an organisation’s reputation • benchmarking accountability • assisting in the prevention and detection of fraud, dishonesty or unethical behaviour “ (2003). In another reference, it was sighted that in an effective corporate governance scheme I banks, the director strengthens the system by: ·         “Understand their oversight role and fiduciary responsibility ·         Meet regularly with senior management and internal auditors to establish and approve policies and procedures and to monitor progress toward corporate objectives ·         Serve as checks and balances ·         Feel empowered to question management ·         Provide dispassionate advice ·         Absent themselves from decisions when they are incapable of providing objective advise ·         Avoid conflicts of interest ·         Do not participate in the bank's daily management. “(). Corporate Social Responsibility             Corporate Social Responsibility is one of the leading topics in the issue of corporate governance and even marketing effectiveness. Corporate Social Responsibility is a theory on corporate governance which states that the firm has a great responsibility upon his shareholders, comprising mainly of the employees, the consumers, the environment, the stockholders and other people who are, in one way or another, part of the whole business process.             Corporate Social Responsibility entails with it the idea of corporate citizenship. Being a corporate citizen, a firm must include in its steps the welfare and well-being of its shareholders. In essence, it is the idea of “not compromising the well-being of the environment and others for the sake of profit”.             Corporate Social Responsibility can bring a bounty of benefits to a firm. Ø  By reducing risks Ø  By enhancing brand value Ø  By opening doors and creating goodwill with host governments or in the local community. Ø  And by improving staff efficiency and morale (2007) In the theory of Corporate Social Responsibility, it is stated the organization has the responsibility of taking into consideration the interests of its stakeholders. It must incorporate in its goals the needs of its stakeholders. Family firms are said to follow the theory of Corporate Social Responsibility, taking into consideration not only the profit to be made, but also the best things for its stakeholders. Corporate Governance as was mentioned is the method of regulating and monitoring the behaviour and practices of the company.  This idea may relate in many ways in the aspect of corporate social responsibility. Corporate Social Responsibility or CSR is one of the leading theories relating to corporate governance. The theory talks about the responsibility of the corporation, or any organization for that matter, to all its stakeholders, which comprises mainly of its customers, employees, etc. The theory mainly states that the organization should keep in mind the interests of their shareholders and not only the possibility of making higher profit. The following is made to compare and illustrate the differences between the publicly owned companies and the family firms. Another aspect is to adopt the Theory of Corporate Social Responsibility. Corporate Social Responsibility deals with the responsibility of the firm to put the best interests of its stakeholders before any profitable step. Corporate Governance is the action taken in order to help regulate and monitor the behavioural aspects and practice of the company. It also helps keep in check the needs and the interests of the shareholders. Corporate governance is adopted into many aspects of the corporate world. This strategy should be adopted by publicly owned corporations. The stakeholders, which comprises of the employees, the customers, the environment and the shareholders, should be the main focus of the company.             In the theory of Corporate Social Responsibility, it is stated the organization has the responsibility of taking into consideration the interests of its stakeholders. It must incorporate in its goals the needs of its stakeholders. Family firms are said to follow the theory of Corporate Social Responsibility, taking into consideration not only the profit to be made, but also the best things for its stakeholders. Corporate Governance as was mentioned is the method of regulating and monitoring the behaviour and practices of the company.  This idea may relate in many ways in the aspect of corporate social responsibility. Corporate Social Responsibility or CSR is one of the leading theories relating to corporate governance. The theory talks about the responsibility of the corporation, or any organization for that matter, to all its stakeholders, which comprises mainly of its customers, employees, etc. The theory mainly states that the organization should keep in mind the interests of their shareholders and not only the possibility of making higher profit. The following is made to compare and illustrate the differences between the publicly owned companies and the family firms. Corporate Social Responsibility and sustainability are often used interchangeably such as in Marks & Spencer as there were views on CSR as the management process by which they move towards a more sustainable business model. CSR helps to secure investment because investors will increasingly reward companies that can demonstrate that they are able to make long term, sustainable returns. Responsible business practice helps the company to attract and retain employees because they are proud that they have a responsible business and secures the right business partners whether they be suppliers or franchise owners. Pressures & Suggestions             Suggestions have a great impact on decisions. Suggestions can also be used with a good corporate governance strategy. Of course, many factors may affect the decision making capability of an individual. They are somewhat referred to as pressures. The growth of the company may be one pressure that a high ranking individual must deal with. The recent demise of Harris Scarfe has brought about new light in the pressures that a company head faces. A number of other pressures, such as return to shareholders, Environment, Culture differences, Bottom line (legislation), Political, Economic conditions, Knowledge management, & Resources are just a few of the pressures that could have a great impact on the company. Take for example cultural differences. Differences in culture can often times bar the potential growth of a product in a certain area. This, however, could be remedied if the company seniors would know how and where to take action on. If the company would chose to remove cultural barriers (i. e., include the host area’s culture in the promotion of the product), then it may work to the company’s advantage. Good Corporate governance not only entails keeping the company alive, but also to keep the company in good hands with good decisions.             Many strategies can be adapted in order to remedy a situation or pressure. One must always come up with a mission statement. This may sound very easy, but it is in fact very vital to the survival of the company. Having a vision statement would mean that the company has a direction. No matter what pressures entail in making a decision, a mission statement would always keep decision makers on track. Consulting is another way of good governance. In the year 2000, over 60% of companies and firms based in the United States of America adopted the use of enterprise resource planning. Because of the recent upheaval in the corporate industry, sales of the ERP software has reached to more that 150% increase year after year. Due to the sudden demand for the said software, sales per annum amounted to a total of $30 billion in the year 2004 (2004). According to Hitt, companies who adopted the use of ERP’s were said to exhibit an increase on overall performance concerning finance related processes (2002). Due to the above-mentioned obstacles, external practitioners often are recruited to aid firms on the said issues (1998). Because ERp generally focus on giving out a certain level of pragmatic interoperability which is said to pose certain mechanical and financial obstacles which would be difficult to overcome ”with stand-alone custom-built systems" (2002), dependence on external practitioners is very much understandable (1998).With technological advancements and complexity of information being put out, greener pastures are opening up for external practitioners in the context of information systems. In recruiting the aid of external practitioner, organizations not only have operational success in mind but also goals such as training skills, information dissemination. Acquiring such needs often help and benefit the client organization in the long run (1998).             Outsourcing can become a great resource for an international company in the long run. Outsourcing can assure that the company would continue to have a good number of manpower but for a lesser and cheaper cost.   Conclusion             Therefore, suggestions have great impacts on good corporate governance. In the light of the recent downfalls of many companies and corporate organizations due to lack of good judgment, the effects of the pressures that corporate heads are exposed to, are now taking greater attention. Because of this, it is vital to note that there exist a number of solutions to corporate problems. We are on the verge of the 21st century. Entrepreneurs should create and make better the strategies that they have now in order to have the edge in the competitive world. They must be able to recognize and meet the consumer’s needs. Having said so, someone wanting to be an entrepreneur must be able to have the needed skills and abilities.

Effective Governance

Table of Contents Introduction Overview of the Topic Discussion Definition of Effective Governance ...

A MORAL PROBLEM IN BUSINESS

The Manager’s Proper Decision in Business Ethics             Values, morality and ethics are used in a variety of loosely connected context. Values are specific desires for objects or beliefs perceived as important, whereas ethics is a more general term that refers to conceptions of human welfare and the promulgation of principles to enhance human welfare. Morality, further, usually refers to traditional beliefs of proper and improper conduct that have an historical context of years or centuries. (, 1988)              The philosopher's interest in morality and moral issues and judgments is neither descriptive nor clinical. Rather, the philosophical thinking about morality comprises contemplation about the shape and the substance of moral judgments. (, 1988)             In business administration, such aspects are very important because the decisions in the business context involve assessments of conduct and character, the practical disciplines in such administration share the lingua franca of normative language like right, wrong, should, good and bad and the business administration, as ethics, at times relates not only to judgments regarding actions but also the motives and character traits that influence those actions. ( & , 1990)             These are simply put as the business ethics, a philosophical thinking about issues of morality in business, including moral problems and judgments which are necessary to address the ethical issues that may arise in a competitive, economic environment. Similarly, such issues are also similar to those raised by any human activity. Moreover, as a result of fundamental changes in societal attitudes about the proper conduct of business organizations, great public interest in business ethics arises. ( & , 1990)             The factors such as the growing inability of the market mechanism to govern many business decisions and activities because firms have become so large and powerful; the growth in government constraints and involvement in business firms' activities; the concern about certain issues such as environmental protection which are not normally regulated by the market; and the emergence of "quality of life" issues which are of high priority among society's social values have contributed to the increased public concern regarding business values and ethics. (, 1988)             Additionally, firms have become larger and more bureaucratic which often inspires less concern about the proper conduct. This lowers the standards of employee behavior which is also fueled by the industrial restructuring where inevitable pressure tightens budgets and increase profits. (, 1988)             Since the daily conduct of business raises personal ethical issues similar to those raised by any other human activity, business ethics, in short, is a topic worthy of the executive's or manager's special consideration. Further, business firms deal on a daily basis with the myriad subjects of ethical significance such as the employer and employee rights and duties, marketing ethics, corporate social responsiveness and improper conduct in the firm. ( & , 1990)             This urges that the business executives and managers address the problems and dilemmas that pose conflicts among their various constituents. Among the managerial responsibilities, those defy the business as usual resolution is the most difficult because it poses distinct conflicts. Also, the manager’s economic responsibilities to his shareholders, suppliers and lenders conflict with his duties owed to society or with that manager's own values or moral beliefs. Thus, the careful evaluation of the impacts of decisions and the balance of the various constituent interests whether in the context of near-term or long-term effects is an integral part of the firm's management process. ( & , 1990)             The process of balancing the constituents’ interests is very important in the business because managers who ignore consideration of these constituencies may ultimately inflict significant harm on their firms and themselves. Because of such reason, it is essential that the manager review all sides' viewpoints. On the other hand, there is no assurance that all constituents will be satisfied because of the mutually exclusive nature of the competing demands. Therefore, the crucial duty of the manager is to balance these various responsibilities to constituents in an ethical manner while attempting to provide a reasonable profit to the shareholders. ( & , 1990)             In most cases, by relying on general principles of fairness, promise-keeping, loyalty, obeying the law and avoiding harm, a manager can make a proper business conduct decision. In the more difficult decisions, however, such principles may conflict or may be inappropriate in resolving the issue at hand. But, by answering the three questions such as what are the responsibilities at issue in each situation, what standards should guide the conflict's resolution and whose judgment should prevail in the situation-the manager's colleagues, the firm's or that of society may assist managers in resolving these various issues. ( & , 1990)             Consequently, this careful analysis usually pinpoints the manager’s key responsibilities.  Thus, this will provides him the standards for decision-making. On one hand, the manager must examine his or her own assumptions about leadership in answering the third question. (, 1953)             By doing so, he will know what kind of leader he is, a personal leader, an institutional or a political leader. A personal leader will be inclined to believe that his or her values should control. Institutional leadership relies on common values infused in the firm usually manifested by the manner past decisions have been promulgated while a political leader usually exhibits more flexibility than presumption in seeking compromises. (, 1953)             Likewise, by creating policy instruments in codes of conduct which provide guidelines in areas such as corporate disclosure, compensation, fair pay and employment opportunity, privacy, freedom of expression, the environment, workplace safety, ethics in advertising, product quality and corporate social responsibility, managers may also respond to the need for making proper decisions and establishing values. (, 1953)             By asking the question, what are the agendas and strengths of those groups, will give the managers an insight into the changes and the probability of having to alter policy and goals in response to the constituencies. However, answering this query requires a political analysis at two levels such as determining the group's goals and strength as a political player and examining the broader implications of the various political strategies a firm could adapt in a particular situation. ( & , 1990)             The management response’s in this can be precise or a hybrid of the two whether it is formulated at the top or at a lower level. But, the clear decisions and the provided benchmarks assessing the future performance are evidences that the firm has seriously considered the issue. The flexible goals, also, permit managers to respond to developments as they arise and not commit the firm to a course of action that may prove regrettable. ( & , 1990)             In general, the managers can effectively use a number of general approaches to difficult business, moral or ethical problems in order to reach proper decisions. Each of these approaches suggests a critical question that the manager can use as a test of the correctness of proposed action. ( & , 1990)         Bibliography:

A MORAL PROBLEM IN BUSINESS

The Manager’s Proper Decision in Business Ethics Values, morality and ethics are used in a variety of loosely connected con...

Managing Markets: Case of KFC

MANAGING MARKETS   Marketing mix modeling is a term of art for the use of statistical analysis such as multivariate regressions on sales and marketing time series data to estimate the impact of various marketing tactics on sales and then forecast the impact of various marketing tactics on sales and then forecast the impact of future sets of tactics.(1) Various companies have been using MMM or marketing mix modeling as part of their “secret formula” and most of them have been succeeding and their businesses are expanding. But one of the most notable among these companies is KFC, a leading food chain globally.  What kind of good strategies that we observe in the KFC that we don’t usually see in the other food markets?  First and foremost is, the way the marketing mix modeling is being implemented in all their branches and outlets.  Second is, the optimizing of budget by allocating spends to those activities which give the highest return on investment.  If we look closely on the first aspect, strategists have been gaining competitive advantage for KFC due to the fact that almost all corners of the world have this company which specializes in serving tasty and crunchy chicken, spaghettis and many more.  Of course, logic would tells us that if KFC is not well-received in one place, automatically its aura and salability to other places would be put into jeopardy.  But this would not be true to a company such as KFC, where the theory on how to be more competitive and uplift more its service to the people are at the forefront.  However, all these means of implementing marketing mix theory would be in vain if the strategist or marketing managers cannot and don’t know how to implement them prudently and wisely.  The time-frame and venues are of vital parts in considering the effectiveness of every business.  In the early 80’s a certain appliance  company was at the peak of its popularity and almost all people would patronize its name and bought their appliances no matter how costly they are as long as they carry with them the brands name.  Yet, and perhaps due to the marketing managers and strategists’ inability to foresee the future and the consideration of the place, the once famous company went into bankruptcy and suddenly disappeared like bubbles in the air.  Talking about venues and time-frame as great tools in safeguarding the salability and consistency of the market, KFC (most specific example is the Philippines), I should say, has been gaining advantage over the other food chain companies.  And why is this so?  Firstly, the strategists know full well that the Filipinos are grossly in love with eating fried chicken and other pastas as well.  The strategists here considered two salient points: venues and time-frame.  Venue because, Filipinos are fried-chicken loving country.  And this “addiction” cannot be separated from them.  Time frame because, eating fried chicken is something that endures for lifetime.  The second aspect hinges on these: forecast sales, simulating various scenarios, identifying the most and least efficient marketing activities, mix promotional tactics (2), have also contributed to the effectiveness of putting into practice  the theory of marketing mix.  The effectiveness of each of the marketing elements is defined in terms of its contribution to sales-volume, effectiveness, efficiency ROI (return on investment).  These insights are then utilized and acquired to adjust marketing tactics and strategies.  To optimize the marketing plan and also to visualize sales while simulating various scenarios is not just useful for reporting the established and experienced effectiveness of the activity, it also helps in visualizing the budget by identifying the most and least efficient marketing activities.  In this way, the marketing manager can reallocate this marketing budget in different proportions and see the direct impact on sales value.  At this point, the strategists or marketing managers can optimize the budget by allocating expenditure to those activities which give the highest return on investment.  In forecasting sales, the strategists employ the psychology of optimism.  Pessimistic attitude has no room in business because it does not only lowers the moral of the workforce, but it also puts the company into a false sense of security.  Being optimistic, marketing managers forecast sales so as to add more to the efficiency and contribution on sales-volume.  In identifying the least and most efficient marketing activities, the strategists can address effectively the problem.  The least efficient marketing activities can be done by checking the personnel and supervisor whether they are really doing their assigned tasks.  Secondly, by monitoring and consistently upgrading the more efficient ones, the marketing managers are doing a check and balance work which is important in raising the level of quality of the market.                The ultimate objectives of all the employed tactics and techniques in the market world revolve around the sales volume, effectiveness of the strategy , efficiency on return on investment.  And the best of these of course is, return on investment (and of course—the interest and how much you gain from your business). Footnotes: 1. Marketing mix modeling—WikiPedia                    2. Return on Investment--WikiPedia

Managing Markets: Case of KFC

MANAGING MARKETS Marketing mix modeling is a term of art for the use of statistical analysis such as multivariate regressions on s...

The Construction of an Information System that enhances “the Flexible Work Practices” to a Company

The Work-based Project Introduction During the turn of the century, the world experiences more drastic changes than before, which include changes in the environment, culture, education, knowledge, the society, and technology. The world has evolved into a massive ball of information and technology that led to the expansion and the development of the society in several aspects. However, despite the improvement of the performance of many companies, these changes also contributed to the distress of some, which are not apt for these changes. From this, it can be understood that, existing and persisting in the business industry is not as easy as it seems. Because of these, many business organisations and companies are encountering a variety of problems and issues that determine the success or failure in the business arena and in the industry. These problems and issues arise from the external and internal changes that the company encounters. With regards to this, certain business improvement procedures should be practiced in order to enhance the business practices and development of the company. In this paper, the discussion of the construction of an Information System that enhances “the Flexible Work Practices” to my company will be shown. Change is a part of every organisation. Sooner or later, organisations have to change and adapt to a competitive environment, it is a must for organisations to change in order to stay on top of the competition.  This paper will be discussing the issues of business improvement efforts within our company.             The Business Improvement             Project life cycle, basically subdivides the project into a number of definable phases or stages.  In the case of our company, the development of an information system that enhances “the Flexible Work Practices” are considered with respect to the efforts that will enhance the business practices of our company. These were divided into four (4) phases/stages as adopted in Cleland, & Gareis (1994) i.e. concept and initial phase, design and development phase, implementation or construction phase, and commissioning and handover phase (See Figure 1). Figure 1.  Project Life-Cycle               Basically, the business improvement efforts in our company are often implemented to provide a facility or to produce a product that will give a client a return on investment. And in our case, the implementation of project in our company is to enhance the “Flexible Working Practices” of our employees.  By looking at the bigger picture the designers are able to trade-off the cost of the construction with the cost of maintenance, upgrading, expansion and disposal over the life of the facility.  The extreme case would be a cheap construction which turned out to be expensive to maintain, difficult to upgrade and expand, and an environmental disaster to dispose to.             One of the methods in addressing the problem is to make the company responsible for all aspects of the life-cycle, thus eliminating any short term construction gains. These are often called BOT contracts (Built, Operate and Transfer), or BOOT (Built, Own, Operate and Transfer), or ROT contracts (Refurbish, Operate and Transfer) where a company is given a licence to finance, build, operate and sell. Governments find these contracts attractive as they are seen to provide facilities without having an impact on budget (Burke, 2003).      Time Planning             A time plan or a schedule must be prepared to enable the manager to budget time and energy effectively.  Timescales and time allocation is allows the company to eliminate wastage and allocate resources appropriate to tasks importance (Blair 2009). With setting the appropriate timescale, the company can focus and prioritise the activities in accomplishing the project. Timescales also allows the persons involved in the project become prepared for meetings, monitor project progress, and plan each day and week efficiently (Blair 2009). This would enable the company assess the progression of project and make certain improvements when necessary. Proper time allocation also allows the company to reject excessive workloads and ensure that long-term projects are not neglected (Blair 2008). With proper monitoring of projects, short-term goals can be easily completed and long-term goals can be given priority.   Figure  2. Project Plan and Timescales 	 		 		 		 		Classical Project Schedule (10 weeks) 		 		 		 		time frame (weeks) 		 		 		 		payment 		 		 		 		involved staff 	 	 		 		 		 		1st 		 		 		 		2nd 		 		 		 		3rd 		 		 		 		4th 		 		 		 		5th 		 		 		 		6th 		 		 		 		7th 		 		 		 		8th 		 		 		 		9th 		 		 		 		10th 		 		 		　 		 		 		 		PM* 		 		 		 		SA* 		 		 		 		AP* 	 	 		 		 		 		 		Project Kick-off 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 	 	 		 		 		 		Signing the Agreement 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		 		30% 		 		 		 		Y 		 		 		　 		 		 		　 	 	 		 		 		 		Preparation of Project Plan 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		 		Y 		 		 		 		Y 		 		 		　 	 	 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 	 	 		 		 		 		 		Implementation Process 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 	 	 		 		 		 		User Requirement Capture / Gap Analysis 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		 		20% 		 		 		 		Y 		 		 		 		Y 		 		 		　 	 	 		 		 		 		Programs Development 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		 		Y 		 		 		 		Y 		 		 		 		Y 	 	 		 		 		 		Training IT / User 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		 		Y 		 		 		 		Y 		 		 		 		Y 	 	 		 		 		 		User Acceptance Test 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		 		Y 		 		 		 		Y 		 		 		 		Y 	 	 		 		 		 		Parallel Run 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		 		30% 		 		 		 		Y 		 		 		 		Y 		 		 		 		Y 	 	 		 		 		 		Live Run　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		　 		 		 		 		20% 		 		 		 		Y 		 		 		 		Y 		 		 		 		Y 	 * PM: Project Manager, SA: System Analyst, AP: Analyst Programmer               In implementing the new IS development as for our company, several problems may occur. However, despite the presence of these problems, they can be solved by effective communication. One of the problems to be encountered is dealing with the impetus for change, for all organisations are resistant to change. An organisation will only undertake change when it can no longer meet the demands placed on it in the current mode of operation, and these demands come from customers, the problems the organisation is attempting to solve, and by the threat of competition from other companies (Ward 2009). Through effective speaking and listening, both the employees and the management can focus on informing each other of their beliefs and perceptions regarding the new implemented system. With this, the employees can speak to the management of their fears and lack of knowledge regarding the system. Moreover, the management or the leader can ask the project manager to make some adjustments regarding the problem, such as providing training for the staff and making the software program more user-friendly.   Time Definition By definition, time management is actually the ability to efficiently help give more worth to the time and energy spent with the goal to make life better and easier. As indicated in the previous presentation i.e. Figure 2, the timescales of the project will be divided into two major parts (i.e. Project Kick-off and Implementation process). Basically, these defined stages are based on the network analysis presented in the next section. For the success of any business project on careful planning, the manager must plan, organise, and control a project that consists of a number of interrelated activities.  The best known network models are PERT which stands for Program Evaluation and Review Techniques and CPM which stands for Critical Path Method.              PERT is used to plan the program in advance and to estimate the expected completion time of the entire project (Cleland & Gareis 1994).  It indicates the activities that might need modification regarding completion time.  In short, PERT allows the manager to compare actual progress of each activity and concentrate those activities that are behind schedule and may cause delay of the project. On the other hand, the CPM was developed to aid in the scheduling of some management works like routine plant overhaul, maintenance and construction work.  Since such work projects fall under repetitive operations of which the management has experience on data involving time and cost among others, and relatively small variance in their performance time, and CPM reasonably assumed that the completion time for each activity involved in a work project is known.  Moreover, the CPM incorporates no statistical analysis in its determination of time estimates.  Thus, in accordance to the convenience use of CPM, our company consider the use of this method.   Cost Planning There are main activities involves in the cost management project that includes cost monitoring and cost control.  These activities need to be thoroughly and carefully followed up based on the project requirement. In our company, project cost management includes cost monitoring and cost control which will be shown in preceding sections. Actually, finding ways to reduce costs sometimes may be crucial to firms and is a necessity most of the time. The learning phenomenon and the learning curve offer opportunities for cost reduction programs in general and in the pre-project planning areas in particular. In the pre-project planning stage, the type of learning curve to be used subsequently may be affected by the level and content of organisational planning. More precisely, the more preplanning that is done in all aspects associated with the launching of a new IS, the lower the cost of the initial unit. With the cost of the initial unit being the starting point of the learning phenomenon, the lower it is through effective pre-project planning, the greater the savings generated by the resulting learning curve.   Earned Value Analysis   When running an improvement business project, it is important to understand the values and issues that workers have in order to address them and keep everyone on board for the duration of the project. Workers are not always keen to participate but engaging them at this early stage of the project will help ensure success. With respect to the success of the projects, the approach to arrive at a price base for the purpose of tender assessment must be considered.  From the presentation, several factors can be determined, which need improvement. Primarily, the contracts to be used in the projects must be appropriate, which suits the style and preferences of its employees. The management style of the project managers must then be given enough attention to ensure the organisation and control of the tenderers. Function also includes organising, which determines what needs to be done, how will it be done and who will do it, leading to directing and motivating all parties and resolving conflicts, controlling, and making sure that the organisation has achieved its stated purpose (De Bono, 2005). In short, the scope in the project management entails the refreshing and reinforcing of the tasks and responsibilities of the project manager. Due to the problems and the target project plan that have been distinguished by our company, it is decided to create a plan in relation to project measures.   Implication and Financial benefits of Business Improvement             The changes in technology and management underwent by our company allowed us to adopt serious changes in strategy and development. From the desire to cope with the technological advancements of the century, the company is making plans of implementing a new Information Systems technology that will enhance the flexible work practices of our employees. Basically, the opportunities before our company are significant.  The company has the technical solution and the market expertise to become the dominant force in the market i.e. to enhance the flexibility of employees. But as is typical in the software industry, the window of opportunity will not remain open for long.  The possibilities are virtually limitless, but the company needs to introduce into the marketplace as soon as possible to ensure that they were able to take advantage of future opportunities even more lucrative than those presented herein. To be able to cope with competition against other companies, our company must therefore plan actions properly and implement the plan immediately. However, given the intention for change, the company must not also forget the presence of technical and non-technical problems that they can encounter, such as choosing the software program itself, its compatibility with the organisation’s system, budget, time and people. This is why, the adequate allocation of resources, including time and money must be planned accordingly to achieve success. In relation to this, effective management and well-planned project implementation must be practiced to encourage teamwork and business progress. This can be done through effective communication, with good interpersonal, speaking, writing and listening skills. Aside from these, the organisation can also seek professional help from IS professionals for additional guidance.   Conclusion             Planning is one of the fundamental functions in management. It underlies the factors that will lead the organisation into achieving its main goals. Thus, it is crucial to lay out a plan to organise the activities that are to be undertaken by the entire organisation. The process of planning though entails setting the desired outcomes and drafting the set of actions to be implemented. It is a complex process that will require analysis of the organisation’s strengths and weaknesses as well as the external factors such as the opportunities and threats. Moreover, an action plan needs to be implemented to assess the effectiveness of the set goals of the organisation. In order to this, the managers will have to communicate the information to subordinates. This undertaking entails competent interpersonal skills that will persuade and motivate the employees to work hard and in the long run, achieve the plans. In the case of our company, the planning of projects implementation should also include other external factors that might cause significant effect to the overall implementation of the project.  These factors are sometimes immeasurable since it is more related to the characteristics of project manager itself. To be able to carry out plans, the managers must provide continued motivation to the employees towards excellence and high performance. This pursuit involves the development of the managerial skills to create an efficient team that will lead to increased productivity. Observing the work conditions of the employees which involves the interaction and work flow is crucial to facilitate adjustments and improve the procedures.   References: Blair, GM (2009). Personal Time Management for Busy Managers, viewed 12 May, 2009, <http://www.see.ed.ac.uk/~gerard/Management/art2.html>.   Burke, R. (2003). Project Management: Planning and Control Techniques. (4th ed.). West Sussex, England: John Wiley & Sons.   Cleland, D.I. and Gareis, R. (Eds) (1994). Global Project Management Handbook, McGraw-Hill International Editions.   De Bono, S (2005). Assessing Managerial Attributes Case Study of Maltese Managers in the Service Industry, DBA Executive Summary.   Ward, JA (2009) Implementing Quality Initiatives in Information Systems, viewed 12 May, 2009, <http://www.jamesaward.com/implementing%20quality%20initiatives.htm>.

The Construction of an Information System that enhances “the Flexible Work Practices” to a Company

The Work-based Project Introduction During the turn of the century, the world experiences more drastic changes than before, whi...