Choice of Careers During the selection of careers, three careers, which comprise graphic designer, data scientist, and computer engineer, topped the list. Some of the factors that determined my decision to choose the careers include the rewards accrued from each of the careers, the needs of contemporary societies, and the...
Summary Abstract According to the authors, superior firm performance can be fueled by both advantage-seeking behaviors and opportunity-seeking behaviors. However, the two behaviors ought to take place in a firm at the same time in order to derive the full benefits of strategic entrepreneurship. From the outset, the process of...
Define Culture from an International Perspective Culture is the collective programming of the human mind, which is used to differentiate members of one category of people from the other group from another category (Hoftede, 1997). Is National Culture Important for Companies going International? Why? National culture is crucial for companies...
Introduction At the beginning of this course, I created a learning target of having a full understanding of the business planning process, as this is a very important section of the business development process. Although I had seen a business plan in various books, I had limited knowledge on how...
What are the Differences between a Cost Leadership Strategy and a Differentiation Strategy? Provide an example of each Cost leadership strategy refers to a company that is a producer of economic value in an industry at a low cost up to a certain level of specification. In effect, this means...
Introduction My future goal is to become a professional business manager. This position will support my skills and competencies. The class readings and discussions have equipped me with various concepts that can make me a successful entrepreneur. I will always use my new concepts in order to support the needs...
What are the primary differences between ERP, CRM, and SAP, and why would an organization select one of these for inter-organizational collaboration? ERP, CRM, and SAP are normally confused to mean the same thing. Enterprise Resource Planning (ERP) is the software that rationalizes the internal activities of a department in...
Value chain analysis refers to the evaluation of the value-generating activities that businesses or organizations engage in to improve their competitive strength. In this paper, Wal-Mart’s value chain will be analyzed. Wal-Mart’s primary value chain activities consist of an effective and efficient inbound and outbound logistic management system. The company...
Introduction This research will focus on financial engineering. Ruppert (57) defines financial engineering as “A multidisciplinary field involving financial theory, the methods of engineering, the tools of mathematics and the practice of programming.” On the other hand, Neftci (45) defines financial engineering as “The application of technical methods, especially from...
The author emphasizes that organizations are experiencing an increase in pressure to adjust to market changes to achieve long-term survival. One of the main sources of market pressure involves the high rate of globalization due to the increased market liberalization. Therefore, organizations are operating in an intensively competitive environment. The...
Research contribution summary The article, Manufacturing Capacity Planning Strategies, by Ceryan Koren reviews the aspects of flexible capacities and balancing the optimal quality equation as part of the cost management strategy while optimizing resources. The primary variables in the investigation are capacity management, planning, flexibility, and costing. Through the secondary...
IKEA has been pursuing a global strategy. This approach makes it possible for the company to acquire cheaper products. The products are then marketed globally thus supporting the firm’s performance. The firm has also reduced business and operational costs. However, the strategy generated numerous concerns after cases of child labor...
Company Overview Since its establishment, Tiffany has been one of the leading companies in the production of luxurious jewelry around the world. However, this status changed when competition stiffened owing to the entry of various retail companies into the jewelry market. One of the factors that helped the company retain...
Continuous improvement of operational performance and sustainable growth are the major objectives for every company, regardless of the sector of operation. Since an emphasis is made on growth and development, a company’s function or industry does not have a robust influence on making decisions related to the company’s future, as...
Introduction This memorandum gives guidelines on the accounting for costs that are associated with the production of frames for the Winnebago home. The technique that will be used to estimate the cost of the product is job order costing. Direct materials In this case, Freightliner needs to use job-order costing...
What does the term cost management mean? Who in the typical firm or organization is responsible for cost management? Cost management is the operation of preparation, development, and regulating a budget. It encompasses additional tasks such as balancing costs, finding funding, and managing finances in order for any given project...
Introduction The analysis of financial documents, such as income statements or balance sheets, allows companies to measure performance. In addition, analysis can be useful in budgeting and strategic planning activities. Certain values represented in financial documents can be used to compare the company’s performance to some of its key competitors’,...
One of the strategies currently applied by Hershey and evident from one of the recent press-releases is market penetration. Thus, the press-release Ice Breakers brand creates Team Unicorn to spark “Unicorn Moments” through Olympic Winter Games Pyeongchang 2018 dated December 06, 2017, presents the way the company implements the strategy....
Introduction Innovation is an important factor in the modern business world. Innovations push businesses forward, and every business should adopt some innovative practices in order to stay in the competition. International business is not an exception. Moreover, both international corporations and national companies that are involved in international trade are...
How countries may be dropped from further consideration as potential markets Out of the four phases of the international screening process, the first two phases are fundamental. The two phases evaluate the internal and external environment of the company, host and home country, and an appropriate marketing mix for the new...
Summary Regarding the state of corporate reality and the outcomes of such processes like the shortening of innovation cycles or the technological merging, the idea of open innovation remains to be a crucial point for discussions. The presentation developed by Professor Dr. Ellen Enkel aims at analyzing the main objectives...
Introduction Entrepreneurship and production thrive on selling services, products, and ideas to intended users. Promotional marketing is a crucial aspect of the process of improving the sale of ideas and products to the public. Therefore, promoters and marketers should consider all the important aspects related to marketing for their marketing...
Abstract Background Apple has been known as a successful organization, which has been performing well in the global economy environment and that has been represented in a variety of markets. Apple has only recently targeted the Asian market. Although the recent branding strategy used in China has been successful, the...
Adjusted present value The adjusted present value will be estimated after correcting the current net present value. This will entail adding the items that were left out and removing those that were erroneously included in the calculations. The new net present value will act as the base for calculating the...
Subject Company Information Apple Corp is an American company that manufactures, sells, and distributes computer hardware, software, and electronics (“Apple” par. 4). It was founded by Steve Jobs along with Steve Wozniak and Ronald Wayne in 1976 (Grady 4). They incorporated the company in 1977 and located the headquarters in...
What have you learned about your chosen industry? The oil and gas industry is among the key industries in any economy in the contemporary world. This industry involves the exploration, mining, refining, distribution, and marketing of oil and gas products (Hilyard 2012). Even though oil and gas exploration and extraction...
How can Nordstrom continue providing quality customer service and increase its brand loyalty? Nordstrom has been portraying the best practice in consumer loyalty and service delivery. This case study describes how “Nordstrom accepted a set of tires purchased by a customer at Northern Commercial Company” (Kotler & Keller, 2012, p....
Building Brands in the Business-to-Business Context Cisco is a global leader in supplying networking equipment. Cisco’s vision is to connect more people using modern networking technologies. The company uses different strategies to communicate with its customers. Cisco builds its brands depending on the changing expectations of its consumers. The company...
Based on the information provided in the case study, how can someone describe RockWood’s segmentation and positioning strategy? Market segmentation refers to dividing markets into segments or divisions based on demographic, psychographic, and geographic variables (Glowik & Smyczek, 2011). Marketers divide markets into divisions in order to produce goods and...
The articles under analysis – The Effect of Entrepreneurship Education Programs on Satisfaction with Innovation Behavior and Performance and Management Capabilities for Sustainable Growth and Success – focuses on the influence of innovation on the business environment and discusses how enterprises can benefit from these changes. On the one hand,...
Strategic planning and its benefits Strategic planning allows a company’s manager to integrate evaluation into an organization’s culture to comply with the organizational development agenda (Cheung-Judge & Holbeche, 2011). There should be specific approaches and frameworks to understand the essence of organizational learning and development. Therefore, there are Five reasons...
Round organizational implementation of environmental and social responsibility In today’s day and age, an organization’s company culture is a key element in determining its level of success. It is no wonder that several organizations, businesses, and companies like Westpac and Ikea have adopted consumption practices patterns and behaviors that incorporate...
Abstract Brand awareness, generally, is the extent to which a brand associated with a particular product or activity is documented by prospective and existing customers in a positive or a negative manner. For brand awareness to be successful, the consumer behaviour is a key component that has to be looked...
Introduction The process of decision-making in a firm with operations in many countries is complex. This is the result of different cultural expectations and the influence of corporate culture. On one hand, overseas branches work hard to fit into the local culture. On the other hand, they have to struggle...
Globalization and Competition Globalization is a function of the amalgamation of markets across nations and technologies that enable individuals and business organizations to traverse national boundaries governed by different policies with different cultural settings and behavior to reach target markets in a much faster and more cost effective way. It...
Responsibility of fast-food restaurants to contributing obesity Many people today prefer fast food from restaurants instead of cooking from home. This is because foods from these restaurants are cheap to buy; it is convenient and fast to buy as take-away. Despite all this, the fast food is creating a big...
Why Increasing the Wealth of Shareholders and Owners should not be the Primary Objective of Management in a Contemporary Business Firm Introduction In 1970, Friedman Milton published one of the most controversial essays on business ethics. In the essay titled “The Social Responsibility of Business is to Increase its Profits”...
Introduction Companies presently face high levels of competition. Many factors cause the eminent competition (Ozuem 2004, p. 11). Consequently, organizations strive to adopt strategic marketing approaches. The basic aim is to achieve and maintain a considerable competitive advantage. There is a common integration of appropriate marketing mix. It is important...
Introduction How should we conceptualize a contemporary business organization? Should we conceptualize it as an entity that exists solely to benefit and increase the wealth of the shareholders, or should we view it as an entity that seeks to benefit the various stakeholders, including the shareholders? Analysts in this field...
Executive Summary This report gives insights into digital marketing. Accordingly, the report highlights the fundamental element formula for digital marketing. In addition to this, the report considers the opportunities and drawbacks associated with digital marketing. The integration of primary and secondary information is used to draw recommendations on the report....
Introduction Company A that produces engine components for heavy-duty trucks can try to enter the Japanese market because this country has a great industrial capacity. Moreover, various companies may be interested in purchasing spare parts that improve the work of truck engines. By establishing its reputation in this country, Company...
Financial ratios Profitability ratios Gross margin Gross Loss/net sales =(2059)/1362= 1.5117 Operating margin Operating income/ net sales = 306/1362= 0.2247 Profit margin Net profit/net sales = 1923/ 1362 = 1.4119 Return on equity (ROE) Net income/average shareholder equity = 719/39.79 = 18.07 Return on investment Net income /average total assets...
A strategic plan refers to the process of identifying the direction, strategy, and the type of decisions that an organization ought to be making based on the resources available to facilitate the pursuit of such a strategy (Allison & Kaye, 2005). Before deciding on the direction that a firm should...
Letter to the President Dear Mr. President: Thank you for placing your trust in me, by asking me to investigate whether or not it would be appropriate to blame the high price that Americans must pay for gasoline on the nations that belong to the OPEC Cartel. After my investigation,...
Meaning Financial ratios are the relative magnitude of two selected numerical values taken from an enterprise’s financial statements. The company’s financial ratios demonstrate its credit unworthiness. The ratios indicate whether a company is a cable of repaying its loans (Bragg, 2009). The business financial ratios are deteriorating and are far...
Michael Porter is famed for his competitive force model that has been used to analyze the competitive environment with the sole aim of crafting an effective competitive strategy. Porter identified five variables that can be used to evaluate a firm’s competitive force. These variables are; The bargaining power of the...
Describe Leonsis’ concept of “idea generation” and explain the approach you would take as an entrepreneur in this kind of business Ted Leonsis’ concept of idea generation entails first the envisioning of an original idea through interdisciplinary thinking where two ideas from two sources are linked form a workable idea....
Introduction A business is an organization that is formed with a view of selling products and services to customers. Business organizations are formed to generate profits to increase the owners’ wealth. The operators and owners of businesses take the risk of starting the business because they expect a financial return...
How do organizational functions impact the structure of this organization? A number of Organizational functions help in shaping the structure of General Motors Company. Marketing function helps in the strategic selection of relevant marketing tools and target. In this way, it helps the company in identifying how it should advertise,...
Explain the function of the hybrid structure A hybrid structure is one that is often used in large organizations (Penick 200, p 148). These organizations normally have several divisions that use different organizational structures (Schmdt 2011, p. 3). This form of organizational structure is also referred to as matrix departmentalization....
This chapter begins with the marketing strategies that can be used by a business to market its products and services effectively. A marketing strategy is a way in which a business plans to use its resources in order to gain a competitive advantage in the market. This enables the business...
Introduction A business plan is a document that forms a road map on which a chosen business idea is build. The document defines the idea and explains how it can be converted into a valuable business venture. This paper will examine the various elements that make up a business plan...
Industry background The electronics industry has transformed the modern-day media and communication platform by offering the consumer a wide range of products from which to choose from depending on their financial social and preferential status. It is the most competitive industry in the 21st century and stands among the highest...
Change is required in the world energy policies to contain the huge demand for energy products Definition of the structure of the oil and gas industry (energy) in which Shell operates and analysis of the competitive challenges Shell faces within the oil and gas (energy) industry The structure within the...
Introduction The beverage industry is a complex array of businesses that collectively provide most of the beverages consumed in the world. According to the American Beverage Association, the industry contributes about $ 178.5 billion to the United States economy in domestic and foreign earnings per annum. Furthermore, it provides employment...
How do organizational functions affect organizational structures? An organization is a group of people who work in a coordinated effort to meet some defined objectives. Organizations vary in terms of their objectives, functions, scope of operations, resource base, and philosophies behind their formation or establishment. Organizations, therefore, have various functions,...
Describe the firms in the proposed merger. List their annual sales and the extent of their operations Exxon Mobil Corporation or ExxonMobil is an American multinational oil and gas corporation. The merger of Exxon and Mobil formed it with the emerging company being headquartered in Irving, Texas. According to Agreement...
Introduction There is a variety of methods that companies can employ to increase their chances of success. One of such approaches is enterprise resource planning (ERP), which involves the integration of different processes vital for any business. These features include accounting, management, human resources, communication with customers, and other functions....
Introduction Recent changes caused by the avalanche of technological advances and alterations in global society have created the foundation for a restructuring of the contemporary business environment. Particularly, the role and range of responsibilities that strategic managers have to face in the modern economic setting have been growing exponentially, thus...
Introduction Human resource management is an integral aspect of any organization today. The concept of HR management roots back to the 1890s when industrial welfare work was emerging. It was stimulated by a complex of humanitarian, religious, and business factors that made organizations introduce such workplace amenities as medical care,...
The nature of the changing global economy has become a common area of research in the twenty-first century. Today’s increased globalization and technological advancements have led to an ongoing change in the international economy. This trend has been characterized by the rising number of consumers in emerging markets. These global...
Introduction to the Company Emirates Airlines, mostly known simply as Emirates, is one of the leading airline companies in the global aviation sector. Founded on March 25, 1985, the company was meant to address the market gap that was created by the decision of Gulf Air to scale down its...
Introduction The financial market opportunities primarily predetermine the development of all types of non-financial organizations, and their activities often depend on external market factors. When it is about the possible risks related to financial activities, various ways to protect budget funds can be considered as effective mechanisms. One such technique...
Current Strategy At the back of today’s competitive business environments, firms ought to deisgn, develop, and implement sound strategies that align with their long-term objectives. It is impossible for an organization to grow without a clear roadmap to steer it towards the desired growth level. The path to success contained...
Executive Summary Financial management is an organizational function undertaken to inform investment, dividend, and operational decisions. The discussions presented in this paper show conclusively that different financial management practices have the potential to influence business performance positively. Some approaches such as working capital management and capital structure result in desirable...
GAAP and IFRS Convergence Generally accepted accounting standards (GAAP) is a set of strict accounting rules that are applied in financial reporting. These standards define specific concepts, making such processes more transparent and stable (“About GAAP,” n.d.). Another set of accounting regulations is the International Financial Reporting Standards (IFRS). These...
Introduction Family businesses face various challenges that have led to their persistent failure in the economy. The success of a family business depends on the consolidation of the family members at large. Most of the family businesses fail because of the family issues and conflicts among the family members. Historically,...
The need for proper human resource strategies is indispensable for success. There is a need for a holistic approach that links workers, organizational values, and performance. Hilltop Stores exhibit poorly managed ventures where intangible human assets have not been given the required emphasis. This has led to understaffing, sagging motivation,...
Introduction Job design involves the process whereby work is organized into several tasks, with a clear description of the process that the tasks will go through, as well as the structure that will be followed to achieve the desired goals. In any organization, the design of jobs takes into consideration...
Introduction A contingent worker is a person who works for an organization on temporary, freelance or contractual terms instead of a permanent or full-time employment basis. One of the presumed benefits of using contingent workers is flexibility. An organization uses contingent workers for a specified period, by the end of...
Introduction Globalization and its impacts are very evident in the modern era. Organizations are operating at the international level in order to reach more customers, as well as resources. Among these resources are the human resources, which are critical for the success of any organization. Organizations are in search for...
Introduction Staff development is one of the chief elements that propel businesses to achieve their objectives. Investors should identify all relevant employee aspects that determine their ability to deliver quality results within their given timeframe. When modern technology crops in the market; investors should focus attention from concentrating on the...
Introduction Employee training is an essential part of any business or non business organization. This enables employees to focus on essentials of better performance that reflect the organization’s policies, goals, objectives and missions. Training makes employees work hard and maximize their potentials while developing their skills and talents. This proposal...
Introduction The sphere of marketing as one of the main forces of influence on modern consumers is open to innovations, new technologies, and improved strategies. This area is interesting to me for several reasons, in particular, due to an opportunity to implement new ideas in practice and verify their effects...
Introduction An effective supply chain is a guarantee for corporations to successfully plan production and operations, as well as to address customers’ needs. The supply chain management includes controlling relationships with suppliers, producers, and customers and ensuring that a supply chain works as an effective network without any delays in...
Executive Summary The automobile manufacturing industry is one of the high labor and capital intensive sectors in the world today. The industry is composed of giant companies that manufacturer cars, trucks, and buses. The companies in the industry incur numerous costs throughout the production process. Automobile firms focus on the...
Introduction Communication has evolved to become the center of business in modern times. With the witnessed advancement in telecommunication, business people can communicate with their customers, suppliers, and even other individuals in real-time. This situation has made it easier to obtain important feedback that is needed to keep the business...
Abstract The growth of any company is largely dependent on how it is viewed by different categories of people in the society. However, an important consideration is to safeguard the image of an organization. This looks at Emirates Airline and how the company has managed to succeed in its operations...
Identify the controllable and uncontrollable elements that Starbucks has encountered in entering global markets Being one of the increasingly growing corporations, Starbucks has faced several controllable and uncontrollable elements on its way to the global markets. The first ones contain local features presented in each country that can be considered...
Introduction to IAS The International Accounting Standards Board (IASB) is an international accounting standard defining body, which works independently for International Financial Reporting Standards (IFRS). It sets the International Accounting Standards (IAS), which provide a global, standard method of accounting and reporting in many countries. Since 2000 when globalization became...
Introduction Modern technologies have led to the emergence of many companies that provide a wide range of services to different customers. Uber Technologies Incorporation (commonly known as Uber) is a corporation that provides car transportation and delivery services to customers in over 600 cities (Berger, Chen, & Frey, 2017). This...
Introduction Mercedes-Benz is one of the most revered brand names in the global automobile industry. Owned by Germany’s Daimler AG Corporation, Mercedes-Benz manufactures a wide range of classic vehicles ‘ranging from coaches, buses, trucks, and luxury cars’ (Mercedes-Benz 2016, para. 3). The automobile manufacturer has its headquarters in Stuttgart, Germany....
Risk Assurance Risk assurance in management is an approach that allows the manager to understand how to prevent, avoid, or minimize possible risks. Risk assurance is used in risk management; with the help of various tools (e.g., critical path analysis) and strategies, it helps to evaluate potential risks of the...
Introduction The issue of risk assessment and monitoring in organizations is currently one of the most underrated issues in the field. There are numerous reasons behind this complex issue such as secretarial and governance failures, scams, and organizational control breaches (Sadiq and Graham 35). More importantly, individuals within most organizations...
Introduction It should be noted that the process of risk response planning should begin after management has conducted a risk analysis; otherwise, the proposed strategies might not effectively address the emerging risks. The assessment and analysis can be both qualitative and quantitative; however, it is advisable to conduct a mixed...
Introduction Managerial and financial accounting are vital components of modern business but they both contribute to overall operations in different ways. Accounting serves the purpose of determining the operations of a business in regards to future projections, past performances, and current requirements. Managerial accounting has its links in cost management,...
Introduction Management is a significant element of the business. According to Batenburg and Maur, this explains why many people are systematically studying management skills (902). Despite this, there are numerous management styles, most of which have overlapping features. Even though the efficiency of one management style over the other is...
Introduction All companies and organizations regardless of the sector of operation strive for exceptional organizational performance and economic excellence. However, it is impossible to achieve these strategic objectives without designing an appropriate strategy for organizing employees and directing their work. To drive organizational development, companies require managers and leaders. Nevertheless,...
The Organizational Context Costco Wholesale is an American company that operates in the industry of warehouse retail. The company has achieved success using its membership model and continues to attract new customers with ultra-low prices. However, Costco is currently operating at very low gross margins, and its ability to further...
The direct and indirect approach A cash flow statement is important in the organization because it shows the movement of cash. It outlines where a company receives money from and how the money is used. That is cash receipts and payments. The statement is divided into three distinct parts. Each...
Introduction The gap is an international retail enterprise with over 500 stores launched across the globe. Although the brand is well known among potential consumers, the company failed to achieve the expected success in both domestic and international markets during 1998-2001. The organization encountered significant declines in sales and a...
Marketing Plan and Sales Strategy Vigorous is the company that has recently entered the environment of the food and beverage industry, yet has developed a strong competitive advantage that will help it improve its current position and take the niche that will allow it to attract new customers successfully. Although...
Introduction Today, coffee is a big and attractive business area. Most people can hardly imagine their lives without coffee either in the morning or during the day. If they choose to go outside to have a cup of coffee, in most cases, they will grab one at Starbucks. What started...
Introduction Operational change is a process through which a company evaluates the way that it operates so that it could come out with ways to sustain itself in the market. Desert Communications Inc. is a company that has been operating in the communications market for a long time, and through...
Overview International standards are standards which are normally developed by international standards organizations. These standards are usually available to be considered and used worldwide. The most recognized organization for developing international standards is the international organization for standardization (ISO). ISO plays a major role in facilitating international trade and cooperation...
Introduction Enterprise Resource Planning (ERP) is an integral part of every organization, especially top management. ERP model integrates all separate department functions into a single software. Many project managers and general managers use the ERP model because it makes it easier to track all workflow across all departments. However, ERP...
Introduction Integrating SWOT elements with various strategies is a cardinal step in the analysis of both internal and external environments. Such integration should be based on the interplay between SWOT factors and other elements that influence the performance of the organization. Kraft Food Group operates in a very competitive and...
Introduction One of the most interesting reports under business issues is the perspectives on small businesses in Canada. The report was developed at the time when the country celebrated its 40th anniversary in entrepreneurship in July 2011. The information from the report was derived from research that was conducted by...
Introduction The nature of the current business world is the result of the development of enormous changes and innovation that started more than 200 years ago (Swanson, 1998). Even though the industrial revolution was an achievement as far as the current markets scenarios are concerned, it is evident that Management...
Introduction Computer systems play an important role in that they offer vital information on effective business operations. The presence of the human workforce is significant to ensure that the management of computer systems is efficient. Business people use computer systems for practical duties such as keeping records of receivable and...
Effectiveness of Technology The success of many business organizations is determined by the relationship between consumers and business owners. On many occasions, the freedom of consumers has been found to pose challenges to business. Most consumers have the habit of shifting from one organization to another in search of goods...
AirAsia, according to recent research and airline ranking, is Asia’s leading airline. The company offers flight services, training, and flight consultation services. AirAsia was established in 2001 with the dream of making flying possible for everyone. On average, AirAsia estimates to be able to carry over 40 million passengers in...
