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Business needs to prove the appropriate level of customer service that will satisfy customers’ needs, increase the number of loyal customers, and business revenue. Explanation: Logistics management is the process of establishing and controlling the efficient flow and storage of a product in order to comply with customer’s requirements. One...
Compound returns are formed when the amount of interest at the end of the investment period is added to the principal amount. The investor should invest funds in accordance with such investment conditions that the amount of interest by the end of the period is added to the principal amount...
In psychology, there are three significant stages of processing memories: encoding, storage, and retrieval. A malfunction in the encoding process leads to forgetting essential things that might have significance in the future. Explanation: Encoding is responsible for imprinting our experience on our brain, whether it be an event, situation, person,...
According to Maslow’s hierarchy of needs, it is critical to satisfying an individual’s needs in the following order: physiological, safety, love, esteem, and self-actualization. If an employee does not have sufficient money to meet his or her physiological needs in proper living, nutrition, and sleep, it is not likely that...
There are situations in companies where dividend payments cannot be made at the moment, and then it is called dividends in arrears. In such situations, they speak of dividends in arrears, which are dividends overdue by the date of payment. Explanation: When a firm has dividends in arrears, it means...
When it comes to investing, it is clear that the connection between risk and return is that the higher performance of the investment causes a higher risk. Explanation: The point of investing is growing the highest amount of money as much as possible within a specified period. Investing is a...
There are several situational models of leadership, but one of the earliest and influential models is Fiedler’s contingency model of leadership. Other influential models are the path-goal theory and Hersey and Blanchard’s situational leadership theory. According to Fiedler’s contingency model of leadership, the affectability of a leader in a given...
Innovation ING Direct started off its business in Canada in an innovative way. The company offered much higher rates of interest (up to 3%) for its savings bank account holders than what was being offered in Canada by other banks. Customers could open accounts and do related activities through the...
The crisis was one the best managed case in history: Johnson & Johnson reacted by notifying health and government officials immediately, and then they put out a recall for all capsules in the Chicago area. No distinction was made for lots or size. They simply recalled all product that was...
The eBay started by first establishing a firm home business before joining international markets. The eBay took a longer time operating locally before launching its markets internationally. This affected the business negatively as it was not able to launch its business to some places such as Japan on time. This...
The term of leadership is commonly used to reflect power, potential, position, heroism, and dignity. A leader is the person who rules or directs a certain group of people together under his guidelines and directions. Leadership is basically is the management capability and skill of a person who takes and...
Full employment refers to an economic condition where everyone can find work and get employed. There is no shortage of labor resources, and they are used efficiently in all sectors of the economy, which means that both skilled and unskilled workers can get work. It also implies that everyone who...
The first step in any marketing research process is to identify the key objective of the project. Research is a source of information that is not yet available to make the right decisions. In the current context, there are three distinct objectives – analyzing the potential market, evaluating the current...
If a large part of the population is uninsured, the impacts of this situation on the healthcare system can be significant because the higher number of uninsured patients creates conditions for increasing healthcare costs. It is important to state that the healthcare system is directly connected with the insurance system...
Each and every organization has a certain set of norms and policies which are useful for profitability, quality, and success in operations. The standards of care are those which can be reasonable, competent, specific, and many considerable. The standard of care can be compared on the criteria, which are consistent...
Corporate governance systems are the mechanisms that are set to ensure that the investors or the capital providers get adequate returns of their investments. The management of public-owned firms, as well as the private ones, is of great importance as far as the corporate governance is concerned. To ensure that...
Starbucks has been very competitive in the industry and for it to remain competitive; the employees have to be managed in the best way possible that the HR manager can. With respect, it is important to appreciate the employee cycle strategy. Starbucks begins its management abilities by supporting the firm’s...
The stock option has numerous benefits over and above the other compensations, and many such companies can succeed by adopting such a plan. The following are the key benefits of using the employee stock option plan. The management is able to appreciate their responsibility as part of the company shareholders,...
It is vital for the company’s management to come up with uniform and clear standards of accounting and operating procedures, as this enhances consistency and allows all the staff members to follow similar organized standards. By sticking to the appropriate financial accounting practices, the management is able to manage earnings...
Revenue Financial statement users would need assurance that revenue recorded actually exists because it enables shareholders in the firm to ascertain the profits and the dividends that would be apportioned to them. Revenue has to be recorded in the period within which it was earned and then be matched with...
Learning the intricacies and details of the manufacturing process is one of the key requirements for conducting an accurate financial assessment of a company’s performance and making further forecasts. In turn, manufacturing may be quite difficult to embrace for the uninitiated, which calls for a brief yet effective tool for...
In a decentralized model of procurement, each division of the company (departments, ministries, etc.) conducts the purchases necessary to meet their needs independently. For this purpose, specialized purchasing departments or other units similar in function are created in its structure. The centralized model provides for the creation of a kind...
Assessment The Generation Z target group and the second one can be segmented by gender and race. In the first case, the male population overtakes the female one (51% against 49%), and it does not appear that the percentages will change. As far as the racial distribution is concerned, the...
AUSFTA was signed in 2004 between the Howard government of Australia and the United States of America. It was a kind of bi-lateral free trade treaty for ensuring conducting of trade smoothly between these two countries. With the continuous efforts of Australia to soothe the setbacks from GATT and other...
The present value concept captures the time value of money by adjusting through compounding and discounting cash flows to reflect the increased value of money when invested. The present value of a cash flow reflects in today’s terms the value of future cash flows adjusted to the cost of capital....
An efficient method of analyzing a firm’s financial position and results as well as comparing different firms is through ratio analysis. In ratio analysis, the relationships between different pieces of financial information of a firm are used by financial analysts to look at a firm as a possible investment. Liquidity...
There are no doubts about its innovative and top-of-the-hat thinking selection method, but it may not be the most reliable one. For one thing, the No.1 contestant selected through Code Jam may not be interested in a career with Google, despite entreaties and attractions; again, the selection panel needs to...
In every renowned and esteemed organization, it is the sole priority and duty of the Human Resource Department to serve its employees with the most beneficial advantages and fringe benefits which could satisfy the needs and wants of the employees and could also improve the working conditions and the organizational...
Various companies face a threat from the Union of workers that they could go on a strike against the company. Now, this strike could be anything; it could end up as a protected walkout of all the workers, it could be workers yelling slogans against the management of the company,...
The organizational structure and employees are the main source of accomplishment and success of the company. They act as the sole players in the progress of the company. When the company gets so much from its employees, then the company should also play an important role in providing safe culture...
Normally accounts receivable are recovered over the credit period allowed extended to recover. But certain receivables are not recoverable due to a variety of reasons that differ from business to business and individual and other circumstances of the debtors. A business, on the basis of its experience over a period,...
Differences in the Attention of Business Partners to Collaboration Foreign and domestic partners may have different attitudes towards the importance of a particular collaborative business project. It may be due to a different economic or cultural environment. As a result, the active partner can accuse the passive partner of not...
Utility Workers Union of America, AFL-CIO (UWUA) is basically a labor union in the United States. The Utility Workers Union of America is considered to be one of the most progressive and prosperous labor unions working in the United States, with a number of more than 50,000 members across the...
Having a consistent business culture is essential in maintaining the stability of YT’s business strategy. Strategy planning is one of its core functions that should be responsible for creating a consistent business culture because it defines the direction that the firm will follow in carrying out its business activities. The...
By utilizing the expertise of YT Ltd.’s human resource functions, the firm can secure its profitability by making sure its human resources contribute to the company’s stability. The firm’s HR functions can improve its bottom-line performance by maximizing the effectiveness of employees, thereby improving its financial position. Therefore, tapping into...
The devastating effects of COVID-19 have overburdened the less developed and developing economies, making it challenging to cover their debts. The G-20 established a debt relief framework to help these countries deal with the pandemic. The actors agreed that an eight-month debt suspension period would be offered to states with...
A leading enterprise is inherently connected to its capacity to deal with successful risk management within an unsettled and challenging business environment. Risk analysis is a crucial planning tool that can help to save “time, money, and companies’ reputations.” According to Tranchard, some of the potential increasing risks for the...
Budget variances could create disharmony in the management of operations within the sales division of the insurance company, thereby highlighting the need to manage such inconsistencies. Four strategies can be adopted to mitigate this issue. The first one involves disclosing these variances to the company’s management and board of directors...
The company, EMI, refers to the Emergency Medical International Inc. (EMI), which is a privately owned Florida Corporation with Mr Juan Manfredi as its President and major stakeholder. It was founded in the year 1981 as a services Company providing emergency vehicles for the export markets. Its focus in business...
The main idea is that the monopolist normally charges high prices from consumers under normal circumstances, especially from customers who have a high willingness to buy, but occasionally, the monopolist may reduce prices for one day, and the consumer buying would naturally increase prices, the next day. It is believed...
There are two major disadvantages of the first mover, which are costs and risks. The Costs are significantly higher since a lot of money has to be spent on Research and Development (R&D) Costs, market surveying and researching, planning, organising and scheduling activities and also other significant aspects. It is...
Reputation risks are the major issue that arises from the set of problems affecting TBS Plc. This risk refers to the perception that customers would develop about the company based on the complaints registered by its clients. All the four major issues affecting the company highlighted in the report all...
Some executives worry that individuals from outside may destroy their company’s culture. Therefore, the promotion is aimed at employees who feel the company’s philosophy and perform their duties flawlessly since they have been fulfilling them for a long time. Thus, the main advantages are the loyalty of employees worthy of...
Planning entails an organization’s process of identifying resources and making decisions that determine the future of the firm. In essence, it includes mechanisms to help answer questions like what, who, and how to do things within the set-out guideline. This practice determines the direction management is willing to take to...
The decision is the conclusion of concepts which entails choosing the best alternative from the available and taking the most appropriate course of action. Making decisions involves an integrated approach to problems, which enables the manager to move forward in business. Such conclusions are often binding and may affect the...
Different organizations embrace varying tools in making choices alongside strategic planning. However, the decision-matrix, Pareto analysis, and SWOT analysis seem to portray substantial benefits for firms worldwide. These tools entail critical evaluation of the existing conditions to understand and identify various factors affecting the system of operation. The decision matrix...
Within the framework of organizational justice, it seems that the first issue that should be treated is related to Disruptive Justice. The employees do not believe that they are treated on an equal basis, and there is no fairness in the outcomes of their work. In this vein, I have...
The six leadership styles might be determined and depicted as follows. First, it is a directive style that implies strong and coercive actions. It is focused on clarity and the provision of exact goals to be achieved; the most appropriate use – is during adverse conditions of various characters. For...
Through corporate ethics, a company can ensure that its program is effective. Employees are “more likely to contribute to firm performance because they inherently want to give their best for a company that cares about its people and its ethics.” Corporate ethics is a system of moral principles and norms...
One of the most important and obvious displays of respect and care for employees is allowing them to take days off and breaks from work when they feel sick, overwhelmed, and exhausted. Companies must recognize that their employees require time to recharge and show understanding and respect for their conditions...
The diagnostic related groups (DRG) system of providing payments is characterized by such an advantage as the provision of the full reimbursement for healthcare specialists depending on the group of patients with whom they work. One more advantage is the effective and developed budget allocation in hospitals. However, this system...
Fraud refers to illegal acts such as policy violations and financial misstatements that are committed by or on an organization. Fraud affects organizations in a number of ways, such as loss of company reputation, values, and finances. The fraud triangle enables organizations to assess fraud risk. Fraud theory asserts three...
Revenue Financial statement users would need assurance that revenue recorded actually exists because it enables shareholders in the firm to ascertain the profits and the dividends that would be apportioned to them. Revenue has to be recorded in the period within which it was earned and then be matched with...
Riahi says the U.S. GAAPS are rule-based, but the IFRS is principle-based. This can be seen due to the differences seen in the treatment of some transactions. In the U.S, the areas of discussions can be interpreted or clarified by the board, but the IFRS can only give guidance and...
The incidence where the company assigns the cost of direct labor to the calculation of total cost poses no challenge. Initially, the company would assign the labor costs to the product cost through direct tracing. The difficulty arises when a direct actual observable labor input and output relationship does not...
The flow of standards can be slowed if producers focus less on quarterly earnings per share and tax benefits and more on quality products. Furthermore, accountants and lawyers should rely less on rules and laws through the adoption of judgment and conduct. This means that the reliability of companies’ reports...
Fraudulent financial reporting (FFR) is the intentional omission of amounts or intentional withholding of vital information during the preparation of financial statements. Perpetrators manipulate records purposely to deceive people who benefit from such information. FFR ensues through forgery, manipulation, alteration, misrepresenting, and omitting transactions during the reporting. It is a...
Annuity due and ordinary annuity are the two basic types of annuities. While ordinary annuity is an annuity for which one makes payment at the end of each interest period, annuity due is one for which someone makes payment at the beginning of each interest period. This section highlights the...
Allowing employees to participate in developing a budget makes them to own the budget and view it as a plan of action. A budget usually affects everyone in an organization hence it is critical to involve all parties and participants. Failure to involve the employees hampers effective execution of the...
It is worthwhile here to mention that the sales clerk is a crucial interface between the company and customers; therefore, they need to be trained for earning the goodwill of customers. The orientation program would therefore include; Day-1 Session-1 Interaction of the sales clerks with some company officialsCompany officials must...
After the formulation of the different categories of customers according to the framework by Reinartz & Kumar, Noone et al. identified four different strategies of customer-centric revenue management (CCRM) to serve the four categories of customers through revenue management (RM), including traditional revenue management, lifetime value-based price modelling, availability warranting...
Marshall McLuhan and Raymond Williams were theorists who shaped people’s understanding of the media using technology. Marshall McLuhan highlighted four significant aspects surrounding the media: various mediums that coexist with other media, manipulation of people’s view on space and time, extensions of human senses, and unavailability of neutral tools. By...
Forecasting is a very important necessity in planning since it drives the process of accommodating the requirements of customers in many supply chain arrangements. Forecast has six main components, which include base demand, seasonal, trend, cyclic, promotion and irregular. Base demand is the average long-term demand after removing the remaining...
Many healthcare organizations have formal performance appraisal systems that they use to rate the job performance of their employees. An effective performance appraisal system is very beneficial to an organization. The major benefit of performance appraisal is that it helps in directing employees’ behavior toward an organization’s goals. It also...
The Ford Motor Company estimated beta coefficient, according to MSN money, is 2.48. The Oxford dictionary defines risk as “the possibility of suffering harm or loss.” In business, just like in any other venture in life, people have to face risks. In business undertakings, the investor has to be content...
Both the International Monetary Fund (IMF) and the World Bank perform important functions in the global economy. The IMF is charged with the responsibility of fostering global economic growth and stability. Also, the IMF provides financing and policy advice to members faced with economic difficulties. Also, the IMF collaborates with...
FedEx (Federal Express) in 1973 initiated overnight delivery via flights by a cargo aircraft. At first, Memphis served as a central collection point for sorting the packages. From this central location, the packages were later delivered to their different destinations. These delivery missions were done overnight such that by the...
An execution-only transaction is a transaction carried out by a financial advisor or broker according to the will of the client. Under this arrangement, the client already understands what they want and requires no advice from the financial advisor concerning the transaction is required. The only task for the financial...
Retail internationalization is one of the complex issues in retail strategy primarily due to the previously localized nature of retailing. The accelerating rate of internalization in the retail sector has attracted increased attention by scholars and business practitioners who have sought to understand what retail internationalization entails. The process of...
Some beer, wine, and spirits ads can be misleading because they create a false impression of the brand they try to advertise. The law requires that only those who have attained the age of 21 years should drink alcohol. However, this is not true as alcohol continues to be abused...
A non-profit organization (NPO) is an organization that does not have profit extraction as its main goal and does not distribute the profit gained among the participants. They can be created to achieve social, charitable, cultural, educational, political, and scientific purposes. NPO’s managerial goals are focused in the areas of...
Julius Berger is a multi-national engineering organisation operating in the construction industry. The international division of Julius Berger is located in Wiesbaden, Germany, but the company also has large divisions in Nigeria, which is its country of origin. The company offers a wide array of services in engineering and construction,...
Julius Berger operates in the construction industry, meaning that the company’s functions are mostly project-based. Moreover, the success of its projects relies on the quality of construction, meaning that building is a critical process affecting the company’s success. Based on this information, there are several techniques discussed in the previous...
Kodak has been the leading company in photography had gained consumers’ confidence as a quality production company. Its success in making the company more advanced in technology had given it a competitive advantage over others, giving it a better place in the market economy. However, Kodak as an organization is...
Responsibility accounting is a key component of accounting systems for companies when the measurement process for performance gets more intricate; the process requires the allocation of the responsibility of accounting to a specific person or group for particular segments of the company. These segments are usually organized as responsibility centers...
It can be said that business organizations’ policies and procedures are those rules and standards that support the internal and external hierarchy of companies. Established business organizations’ policies help organizations comply with laws and regulations and provide future employees with a clear picture of what the work process and career...
It is evident that organizations face challenges throughout their business excellence journeys. Affecting the behavior of the employees who perform the daily tasks, communicate with customers, and affect the output of the firm is the most complicated task for the management. Organization’s culture affects the behavior of employees, as well...
Many consider mobility as one of the essentials for business. All its aspects can be processed using only a tablet or smartphone. There are many possibilities: from content marketing to customer relationships, from sales to internal actions such as billing and delivery. However, mobile solutions are helpful not only for...
Top-down and bottom-up budgets are two distinct ways of estimating the costs for a project. Firstly, the characteristics of the top-down cost estimations imply that the top management of the company assesses the projections and judges the estimated costs. Here, the experience of the top management and their advanced skills...
Resources constraints are one of the three elements a project manager should consider during planning, together with technical and physical constraints. Resources are personnel, equipment, materials, and financials. Hence, the task of a manager is to evaluate the resource demand, among other things, based on the projects that have to...
The motivation of investors for investing in stocks, bonds, preferred shares, and convertibles is mainly due to returns. The main purpose or incentive for an investor to invest in various securities is the return and risk associated with each security. Apart from the returns and risk, there is a tax...
Modern businesses are increasingly operating on a project basis, which means that even more scholarly attention on project management is required. Most importantly, multinationals tend to operate across multiple geographical locations and engage a diverse membership. Therefore, the main question that arises in this context is how MNCs handle their...
Creating a detailed plan of action and establishing realistic deadlines is an indispensable component of every projects success. One of the ways to map out the project is to describe what should be done via the work breakdown structure (WBS). Effective leaders should also consider creating a Gantt chart prior...
Starbucks is the most famous coffee chain globally and another area where Americans have achieved global dominance. Now it exists in fifty countries of the world, numbering more than eighteen thousand coffee shops. According to the philosophy of Starbucks, success is a combination of goals, results, and tools to achieve...
Researching HR trends and issues is essential to me because it helps with upskilling and grooming the workforce. Providing employees with the necessary knowledge and skills will benefit every company in the long run. It is critical to keep up to date with the modern world of knowledge and skill....
Executive Summary The economic developments taking place in the KSA open up opportunities for businesses, especially those in the service sector. As people gain more disposable incomes, one of the most common items purchased is a vehicle. Commercial transport service providers also tend to purchase multiple vehicles. Today, there are...
Communication has now become the epicenter of the business world. As such, there are some vital qualities that will determine whether or not the employee is an effective business communicator. Some of these qualities include: Completeness In the delivery of a business message, an effective business communicator always ensures that...
This is one of the most important aspects that determine organizational behaviour. This area is too detailed to be covered comprehensively in this report. Hence only a brief overview will be given. This is also one of the areas in which this company is lagging. It can be seen that...
Emotional Intelligence or EI helps leaders meet the difficulties in their leadership roles. There are five elements of EI in the context of emotional leadership. These are perception, expression and appraisal of emotion, understanding and attending to the other’s emotion, emotional facilitation of thinking, analysis of emotion and regulation of...
Enron began to develop a code of ethics for its employees, which included a special dress code, rules of conduct in the team, and a set of beliefs and views of the authorities, which each employee had to follow. In practice, it was rather a code of aesthetics: the behavior...
The effectiveness of the organization’s activities largely depends on the success of the business communication between managers and staff, as well as on the peculiarities of staff communication with customers and partners of the organization. Among the phenomena that impede communication in the organization, and sometimes lead to its complete...
Employee performance appraisal practices depend strongly not only on the type of management but the industry and size of the organization where they are applied. Manufacturing companies may measure production output basis, service-oriented companies value customer satisfaction ratings, while sales measure performance through sales totals. A relatively universal employee performance...
Video streaming services can be considered an integral part of the modern TV and movie industry as they guarantee people access to the content they want. Additionally, they provide options for customization and selection of products that are really interesting to people. For this reason, Netflix, as one of the...
Coca-Cola Company has been for long time dominating the global market in the production and sales of beverages, soft drinks and energy drinks. With new companies dealing in soft drinks entering into the global market, Coca-Cola’s current strategy has significantly helped in ensuring that the company maintains its competitive advantage....
The digital world and technological development transformed the marketing industry as it fostered innovation and created integrated ecosystems. A marketing mix is a business model based on the combination of four Ps: product, price, place, and promotion (Chaffey and Smith, 2017). The following essay will evaluate the ways the marketing...
From: Project manager. To: All the workers. Subject: Reported failure in the products. Beverages are made to entice or, for taking during celebrations. Drinks like alcohol are made to stimulate people, to be more active. Many people, therefore, like drinks in order to satisfy their pleasures. The quality and the...
The ‘Chartered Institute of Marketing’ defines marketing as ‘The management process responsible for identifying, anticipating and satisfying customer requirements profitability’. According to Kotler, ‘Marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others’. The term...
There are three components essential to creating a winning strategy. These components are analysed and the results are compared with the case of Enron to see where the company went wrong. Strategy Fit: A winning strategy has to fit the needs of the industry as well as the resources and...
Keynes and Friedman are a bit similar to one another owing to their interests in monetary theory, interventions, and the general way that economies operate. On top of the latter, these two economists were responsible for introducing relatively new and bold ways of looking at macroeconomics hence their recognition both...
Risk is a hazard, danger, or exposure to mischance that can bring about the loss of property or life. There is, therefore, a need to manage the various risks that individuals more often than not find themselves exposed to. There are three main phases involved in risk analysis and assessment....
According to NCB, the export sector is the main driving force of the economy as the export increased by 6.7% in 2010, in which the Irish exporters association based the growth of exports to the United States by 18%, Germany by 42% and to Canada by 27%. In addition, competitiveness...
When starting or thinking about growing a business, several important factors to consider. One key factor is marketing. Marketing involves identifying what the consumers want and how best to maximize the sale of products. It is an intricate strategizing mechanism that requires the input of experts to accomplish the tasks....
