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In its operation, McDonald’s target customers of different age groups, that is, adults and children. This means that the firm has a wide target market. However, children form the key primary target market for the firm. McDonald’s basis its target market on factors which are easily identifiable in the market....
The cycle approach to management is where the structures put in place are respected and used for reporting performance, managing and controlling alignment, and improvement of performance. The firm should also strive to align itself by aligning its departments, planning with strategy and resources with their maximum utilization. These ensure...
Good terms of trade are very essential in solving crises; it is much better to have good terms and avoid incentives as they can even cause more conflicts. Like in the case of the military, the use of incentives on one side can provoke the team to cause crises with...
One of the criteria for text analysis taken into account by Target when sending out coupons to consumers is intentionality. Intentionality brings out the attitude and purpose of the writer or speaker. The target indicates its attitude and purpose to its consumers through coupons. For example, sending coupons to women...
The underlying assumption of a project management is that the composition of a project management (PM) team must reflect the needs of the project. Such needs typically change over the course of the project’s life cycle. Moreover, project members may enter or withdraw from projects due to various natural reasons....
The cash flow profile of business investment decisions typically involves the outlay of a substantial cash sum now (time zero) followed by a series of cash inflows occurring over some defined future period. The problem is that the initial outlay is being spent now in the present time, whereas the...
Industrial relations mostly cover such topics as corporate restructuring and economizing. In the mass media reporting of industrial relations, there are also topics and issues concerning changing relationships in the employment sector of both union and non-union settings. Another issue is that of work systems that are highly performing and...
The Hungarian plant employed a staggering 900 people, which made up 15% of the organization’s entire workforce. Given the low costs of operation and the favorable tax rate, the plant would realize yearly savings of DKK75 million before tax. The plant outperformed its Danish counterparts in quality levels, revenue increased...
Outsourcing and offshoring have two separate functions each with its own advantages and disadvantages. Outsourcing, that is subcontracting to a third party is considered to be far less costly, it minimizes capital expenditure as that is handled by the third party itself. Specialized skills in terms of customer services, technical...
eBay is one of the major success stories of e-commerce. It is an online shopping company that commands more than 90% of the online auction market, and from 1999 to 2004, it has posted at least 40% annual profit growth every year. The company has 31 sites across the world,...
The United States department of agriculture’s economic research service defines an individual as poor if his or her income is not enough to purchase the basic necessities that are food, shelter, clothing, and other essential goods and services. There are several myths associated with people living in poverty in America....
The NHS management did not know how to utilize the information it got from the winning team’s strategies. For rather than having eight people paddling and one person steering, which is what the winning Japanese team did, the Americans choose to create a bureaucratic team to look into paddling and...
The use of technology in marketing is an essential tool and driver and a crucial aspect of business marketing today. The use of technology in marketing and for daily routine operations implies superior stages of effectiveness, larger earnings, and the use of technology that the competitor does not possess definitely...
Enron was once perceived to be one of the most profitable and visionary companies in the world. Fortune magazine had in fact called Enron the ‘most innovative company in America six years running. Its collapse in 2001 sent shockwaves throughout the financial world. It became a case study on corporate...
Money is something which can get us some product or service. It is a medium of exchange that works as a liquid asset and works as a causative factor in any economy. During the early ages when ‘money’ as such was not in wider use, people used to interact in...
It won’t be an exaggeration if we say that ‘Economics’ is the key driver in carrying along with the resources, benefits, and people-to-people exchanges. It involves the study and analysis of various alternatives or options available before opting for one particular option, in such a way that the job is...
The manager in charge of the team must first analyze the group of individuals to determine its potential. Then he or she should collect relevant data and resources for the team to work with. After this, the manager should plan for the team. Planning includes laying down its activities as...
Macroeconomics is the part of economic theory, which regards the economic system as a whole: with all the key aggregates of the household issues, business, and government sectors. Originally, it entails all the measures of the total economy in its basis. According to McConnell and Brue, it is necessary to...
Before implementation of the new business strategy, the paradigm of organizational culture at ZISCo could be explained as being production-associated, managed by technology leadership, and visualizing an enhancement in financial performance via a reduction in cost. Since ZISCo is a state-owned enterprise (SOE), before the introduction of strategic management, regarded...
Prior to 2003, ZISCo introduced a differentiation strategy as elucidated by Michael Porter with a strong focus on domestic niche markets by specializing in products that its competitors did not have the interest to manufacture since either they were difficult to manufacture or were small orders. By perusing a niche...
A business strategy is concerned with many aspects of the growth of an organisation. It is primarily concerned with the direction the business should take to achieve growth. It is also concerned with scope, competitiveness, profitability, social and environmental issues, resources, environment and values. This makes it clear that a...
The qualitative research method has been used in investigating cultural and social phenomena throughout the 20th century in disciplines such as anthropology, education, and sociology. Within this research methodology, there are a number of established and systematic approaches to research, such as a bibliographic study, conversion analysis, case study, discourse...
The SWOT analysis model is the oldest strategic planning model of those selected for this discussion. The name SWOT is an acronym from the words Strengths, Weaknesses, Opportunities, and Threats. The relationship that SWOT suggests with goal and strategies is one where the organization must take advantage of the opportunities...
After the selection of a particular strategic planning model and giving due consideration to the critical success factors, an organization should begin the execution of the strategic plan. The discussion will present information on the impact of effective strategic planning and its impact in various sectors. One sector that is...
A risk can be measured through assessment and/or comparison components. Risk assessment is a key component in the measurement of risk in crisis management. It entails a thorough examination of potential situations, processes, and/or things that can cause harm, especially to human beings and their immediate environment. For instance, sudden...
The key components of a disaster management model include strategic planning, hazard assessment, prevention and mitigation, preparedness, response, and recovery. Strategic Planning Strategic planning is a description of definite objectives that can be executed and evaluated with a view of improving a business. It helps in forecasting business trends in...
Mainstream theories of human behavior, including those for motivation and organizational behavior, suggest that job satisfaction is complex, multi-level, and dynamic. Four examples bear this out: The phenomenon of rising expectations posits that consumers are never satisfied after obtaining what they had initially wanted. Almost a day after finally driving...
The Toyota company entered the American car market with a little sub-compact car at the bottom of the market. It was so affordable and accessible that college graduates could buy it. In comparison to General Motors and Ford that produced big cars for big people, Toyota decided not to enter...
In the case of Digital Equipment Company (DEC), Professor Christensen does not blame the management team for the company’s failure. Moreover, he suggests that blaming the management team is what people mostly come up with when thinking about the mismanagement of the company’s direction. Opposite to this point of view,...
Withdrawal of cash from the checking account will reduce the bank’s deposit and will also affect the supply of money by the deposit multiplier, which is the ratio of “the change in checking deposit to the change in reserves of the bank.” The withdrawal from the checking account will affect...
Economic growth has several implications for the economic and social conditions of a country. When an economy grows, it creates opportunities for individuals and companies to earn more. The reason for this is that it generates new demand for products and services that businesses produce and consumed by individuals. Therefore,...
There are considerable differences in the levels of income between countries observed all over the world. The primary factor that causes this difference is the existence of an open market in certain countries, which attracts people from developing countries and enormous investments that generate opportunities for new businesses and sectors...
Uber may seem like an attractive business to invest in as its business model is simple, understandable, and beneficial for both riders and passengers. However, the reality is that since the company does not generate enough profit, investors are less eager to believe in its future. Uber has been on...
Social commerce can be considered one of the most important marketing issues today. It is determined as the direct sales of products to clients using popular social media networks. In general, it differs from social media marketing as users and not offered various online stores, but they are provided with...
Financial analysts decided to measure success using ratios instead of whole numbers due to the development of a spreadsheet and the desire to compare the performance and profitability of companies from different industries. There was no way to contrast organizations that had different business models with whole numbers because they...
An executive summary is an essential component of any business plan because it is the element that almost everyone interested in the project will read when receiving a complete business plan. Because of this, executive summaries need to be brief, concise and include the most vital and enticing information about...
Cultural management varies depending on the underplayed principles. Many traditions practiced in the Middle East usually do not give equivalent opportunities for both males and females. Females do not have a voice in society, and men prevail over them. This management system does not give women a chance to express...
Microeconomic reform issues have been aimed at ensuring that there is economic efficiency through the right policies. These policies have been directed towards the elimination of distortions and reformation of the economy. Since 2000, the Austrian economy has undergone numerous tax reforms. There has been the need to encourage savings...
The characteristics of a monopolistically competitive market are almost similar to those ones exhibited in perfect competition. The only difference is that a monopolistically competitive market has heterogeneous products (this is not the case with perfect competition). Another distinctive feature is that in this market, there is a great deal...
At zero price elasticity of demand, we have sticky goods. In this case, there is no association between a rise in the demand for a product and the consequent rise in the price of the same. On the other hand, when a few sellers dominate a given market, this is...
Unemployment rate and the participation rate One of the major differences between the unemployment rate and participation rate is in their relation to age. Research shows that the unemployment rate is higher among young people who have recently qualified to join the labor market. The unemployment rate among men is...
Adverse selection refers to the insurance policies that attract customers who most need the insurance and who think that they will obtain extra benefits out of the insurance than what they paid in the premiums and the deductibles. It is a problem of screening the customers by the insurance companies....
When the firm is not a market leader, defensive strategies are not relevant. Instead, the company must take an active position and approach the leader via different means. There are five methods that enterprises may use to challenge their superior rivals. These are the frontal attack, flank attack, encirclement attack,...
When the product does not meet the requirements and expectations of consumers, businesses should resolve the issues immediately to avoid losing sales. Failure to do so will spoil the image of the company and lead to substantial marketing costs for subsequent products. The first step is to identify the nature,...
Although the concepts of leadership and management are related, one should note that there are differences between them. The end goal of both leadership and management may be the achievement of the company’s goals and high-level performance among employees; however, the approaches pertinent to each of the concepts are not...
Employees’ wellness is one of the essential strategic management decisions in any firm. Workers’ compensation programs promote competitive advantage, employee behaviors and draw quality workers in a business organization. Under such programs, workers can be able to make the following claims or rather benefits: protection programs, paid time-off, and services...
The world has changed a lot since the fall of the Berlin Wall. Many changes have been political but they have had an economical impact also. The first major change was the fall of communism in Eastern Europe. This meant that even the state programmed model of economy was over....
Mavis Bank Coffee Factory (MBCF) Ltd. uses a home replication international business strategy to market its coffee in the US. This means the coffee products are made for domestic consumers but, consumers in the US found the products luxurious and enjoyable, and therefore MBCF international business strategy responded to this...
Mavis Bank Coffee Factory (MBCF) Ltd. uses a differentiation strategy to market its products in the US. This is providing original quality coffee unique to the Blue Mountain area of Jamaica which is sweat with balanced acidity. These unique features are from the region’s geographic and climatic conditions which combine...
Trade policy is based on complex principles and issues determined by the national economic environment and international laws. The two principal issues of trade policy are the debate over trust and fair competition. The liberalization of trade creates new problems and threats for local business required protection and financial support....
The main idea of unemployment insurance is to provide employees who are unemployed for genuine reasons with payments for a predetermined period of time or until the employee gets a new occupation. These benefits are offered by state unemployment cover programs, and for this reason, such programs determine the eligibility...
Urbanization can be defined as the increase in the size of population in cities and suburb of cities as a result of people migration into the urban centers. The economic forces can be explained to be the reason as to why cities came about to be ideal places for establishment...
Pay global attention: this involves the blending of cultures, personal preferences, being multilingual, and acting as global market players. The hospitality industry can achieve this strategy by blending a multitude of cultures in their organization and applying global concepts in their business. Uncovering the unexpected: this involves exceeding the expectations...
China It is a former recipient of US aid and one of the most populated nations in the world. It has a high unemployment level, poverty, and social unrest. Its population causes a challenge to the economy because the economy has to grow fast to meet the fast-growing demand from...
The quest for world supremacy is not a new thing to the face of the world. It all started with the Cold War between the United States of America and the Soviet Union immediately after World War Two until the early 1990s. China, India, Russia, and the EU have worked...
Today there are still problems that occur within the international negotiations for trade due to the trade barriers such as high tariffs on export goods. Such barriers and unfavorable rules greatly affect the trade for developing countries. The trade barriers prevent developing countries from trade integration with the developed countries....
In the 1980s, the US experienced a recession that affected almost all sections of the country. The real national product (GNP) fell by 2.5% in 1982, and the level of unemployment rose above 10 percent. This led to the industrial section being idle. Most of the workers in the industrial...
The current economic growth experienced in China is nothing short of phenomenal. With GDP growth rates of up to 9% and GDP of US $6.9 trillion by the end of 2007 in purchasing power parity and the US $ 3.4 trillion in exchange rate terms, China has come of age...
The Chinese economy is the second-largest in the world, commanding a GDP of $6.9 trillion in the year 2007 based on purchasing power parity. This represented a yearly growth rate of 9.9% p.a. Since the 1970s, China has experienced considerable reforms in its economic sector. It has carved a niche...
Mishrad PLC is a major exporter of agricultural equipment to Australia, New Zealand, and throughout Europe. All production facilities are in the United Kingdom. The majority of raw materials and tools are also sourced in the United Kingdom, with few imports from Canada, priced in pound sterling. Major competitors are...
In a situation where one person becomes an instigator of a conflict and affects other people on the team, the project manager can try to resolve this issue by communicating his or her concerns. Thus, speaking with the team members and the instigator and addressing their behavior may be the...
Vendors do not seem to know many things about implementing ERP systems. If a product is obtained by a large vendor, the long-term plans should be understood. The implementation of ERP is not easy. The right vendor and good software can increase the productivity of an organization. The implementation of...
There are strategic plans which should be implemented by the human resource director when planning to reduce personnel and on the other hand to increase productivity within the organization. For productivity to be increased by fewer personnel the few employees must be empowered completely by the human resource director. In...
The main challenges faced by Merck are linkages between the strategy, budget and human resources. Also, it was important to identify weaknesses and drawbacks in current policy. Once the “organizational structure” was set, each component was staffed with persons qualified to perform specified tasks, each task aimed at achieving a...
New deal policies consisted a package of economic programs and strategies that were drafted during the 1933- 1936. The main goals of these policies were to deal with the great depression effects that were being encountered in the United States. The policies include policies to reduce unemployment, to reform financial...
Foreign direct investment commonly denoted by FDI is a measure of a country’s involvement in the affairs of another. It shows a country’s foreign possession of assets of a foreign country. Foreign direct investment can be a good measure of economic globalization where a country can own productive assets in...
Management success at BMW is greatly rooted and attributed to the uniqueness that the world market leaders in luxurious automobile manufacturing and marketing continues to exhibit. In fact, much of the celebrated success at BMW is perhaps drawn from the purely entrepreneurial culture that is seldom among organizations in Germany....
It is a surprising fact that the cost of food in the life of a typical American family can take up as much as 13% of the monthly budget. “Food accounts for about 13 percent of household spending compared with about 4 percent for gas.” The increase in milk prices...
The American economy changed greatly during the Second World War with the great depression hitting the world and in particular the United States. There was a tremendous fall in tax revenues, profits, and personal income this affected wealthy people as most of their companies collapsed. Triggering rise in commodity prices,...
The wine industry is an extremely traditional and fragmented industry. The main wine-producing nations are France and Italy and despite newer wines being produced in the USA and Australia, the European wines continue to be considered the best wines by wine lovers. These wine lovers are extremely anti-branding. People who...
This market has been largely run by the private sector since it was privatized in 1998. The telecommunication industry in Saudi Arabia is dominated by three major companies, which are Saudi Telecom Company (STC), Mobily, and Zain. The stiff competition in the industry has led to every company looking for...
Making a decision as to whether to error not to emulate Hyundai is very critical for General Motors and Ford since, despite economic hard times that saw reduced sales, Hyundai managed an increase. Hyundai is rolling very fast while the rest of the firms from the U.S. are facing hard...
The economic cycle is the long-run economic fluctuations that impact the productivity of the economic sectors. The cycle is mainly divided into different phases; the expansion phase is characterized by huge capital investment and revenue growth. Firms may not experience profitable moments, but the potential to make huge profits are...
The construction industry contributes a tenth of the UK’s total gross domestic product (GDP). Additionally, the industry employs over 1.4 million people and thus can be ranked as one of the labor-intensive industries in the UK economy. The industry contributes significantly to the economic growth and development in the UK,...
The Sarbanes-Oxley Act is a very detailed description of the government’s decision to ensure that each corporate operating within the United States is transparent and accountable. The Act specifies sanctions that are meant to enhance compliance. To achieve this, the Act orders that all companies disclose all new changes as...
Income inequality in the United States has become more and more considerable. The richest 20% of Americans receive about 50% of all income in the U.S., whereas the poorest 20% of Americans receive about 4%. While the incomes of an average family decrease due to recession, the wealth of the...
Capital One has a very extensive corporate-level strategy. Since its start as a monocline enterprise specializing in consumer lending, it has expanded its operations by continually introducing other business lines to complement consumer lending. Presently, it has a variety of business lines chosen strategically to maximize the potential that the...
It is important for marketers to know that for marketing to take place there has to be authorization for it to be initiated. People do not just get products direct into the market before getting authorization as per the set business laws in the marketing region. Failure to do this,...
Activities and functions of the human resource management department require impeccable competence and professionalism to ensure the smooth and efficient running of the operations of the department. Gottfredson and Puryear observe that “in deciding what staffing needs you have and whether to use independent contractors or hire employees to fill...
Economic interdependence can be looked at in a number of ways, this is basically the ways and means through which growth is achieved through the various development projects that are initiated in the region. There is also more to do with the kind of lifestyles that people live that contributes...
The market system and the command system are the two broad types of economic systems used to address the economizing problem. In the market system, also known as capitalism, private individuals own most resources, and the market coordinates most economic activity. In the command system, also known as socialism or...
The role of Tony Hayward in the events in Mexican bay are generally assessed from various positions, and these positions presuppose extremely different opinions on the personality of this CEO. On the one hand, the spill event reminds a provocation. On the other hand, this may be treated as the...
The two product brands selected are Hair color – Head and Shoulders and Exercise equipment brands –Bowflex. Constructing a brand association is a key issue in running a charming business. Interactivity and a modified approach in publicity and merchandise endorsement have turned out to be inevitable in our contemporary world...
The customers’ relationship with the brands can be a direct or an indirect experience. Various kinds of them deal with the direct relationship with business to business and indirect relationship with the consumer market. “Although many companies will talk about brand loyalty and customer relationships in a consumer environment often...
The process of globalization, as well as the new economic environment, have significantly affected almost every sphere of private business, and Island Pet Shop, in which I worked, is not an exception from this rule. The effects are both positive and negative. First of all, I would like to speak...
There are certain values, which are characteristic of Island Pet Shop. One of them is integrity in relationships with the clients. For example, if a person intends to buy a pet and he or she is not able to take care of this creature, the shop assistants may dissuade him...
The Classical theory has continuously become popular today accompanied by several modifications. However, the following several criticisms have made it have no value today as discussed below: Overreliance on experience The ideas that developed the theory were based on the experiences positions held like managers limited to some organizations. For...
The person, who intends to join Island Pet Shop as an employee, has very few chances to work his way from a trainee to a manager. The thing is that this is a family-owned and rather small business. There are practically no opportunities for professional development, and consequently, employees do...
Poodle international is an environmental conservation organization that employs over 350 employees. The organization deals with the replanting of trees in the deforested areas and encouraging the locals to revert to the traditional methods of preserving the forests. The performance management leaves a lot to be expected. The recruitment methods...
Leadership styles are mostly motivated by the working environment and the size of the corporation. For small and medium-sized companies, there tends to be a very close relationship between the junior and senior staff which makes leadership slightly easier. It is easier to coordinate a small group of people than...
Personnel management was traditionally viewed as a responsibility of mainly recruiting and paying company employees. Their role was limited to the employees of the organisation and was hence denied other managerial responsibilities. They could not fully participate in other company activities rather than dealing with that which concerned employees. However,...
For one to carry out HRM planning effectively he needs to know how the business is growing in order to forecast the number of future employees that will be needed. Besides, he needs to know about the financial position of an organization to budget for new recruits. He also needs...
A good performance management system is one that provided employees with the following benefits. First, it should provide employees with a clear understanding of what is expected of them in their jobs. Secondly, it should provide employees with regular feedback on performance. Thirdly, a good performance system should advise on...
Zenith faced a barrier of confusion and lack of qualification among clinicians in the use of EMR. It is a rational outcome because preliminary decisions and system maintenance were not made correctly. The current situation is chaos, but Martha has begun the process of fundamentally solving the problem. The CEO...
It is best when the company can be both solvent, liquid, and profitable; however, in a competitive and changing business environment, this situation is not always realistic. In the short term, it is most important for a company to be liquid since liquidity means the ability of an organization to...
General Electric (GE) should disclose its operations to its stakeholders at all times. This includes their investment activities which the firm engages in mainly because the stakeholders’ capital will always be at stake whenever the management seeks to make such investments. Indeed, the Securities and Exchange Commission (SEC) has always...
Harley Davidson is one of the top ten brands in the world. They have presence globally with a good number of dealers and retail network. They are the most important to the nation on the basis of financial earning. The logo of the company is the leading one compared to...
Recently we have seen oil prices fluctuating a lot as compared to the past because of demand and supply issues that control the pricing of the commodity. If we apply demand and supply models which we have learned in microeconomics, we see that both demand and supply are responsible for...
During the period 1978-2005, China achieved a growth rate of 9% per annum which is the highest rate achieved in the entire world during the given period. Much of this achievement is because of the radical initiatives adopted by China in regard to foreign direct investment (FDI). Having been an...
Theorists believe that multinational enterprises will succeed only if they are able to develop capabilities that are knowledge based, which are often referred to as firm specific advantages (FSAs). Country specific advantages (CSAs) refer to the strengths emanating for MNEs upon which they can rely in obtaining competitive advantages in...
When one huge firm dominates the market, it is called a monopoly. Monopoly is the opposite of perfect competition. It usually exists either because there are no similar firms in the vicinity or because its product is unique and hence cannot be bought from anywhere else. In a monopoly, the...
Marketing strategies of a business in the global environment is different from that of a local or national business environment. A global marketing environment necessitates policies and strategies focused on creating global customer satisfaction and capable of competing with global competitors. In the local or national business environment, the marketing...
