...process by which the managers of a firm or company invest in new projects, maximise profits from existing products and services, control costs, and essentially attempt to add value to the company through the process, which is eventually reflected in the price of the stock. These activities lead to increases in the Net Asset Value and Equity per Share. Milton Friedman’s maxim states ‘the business of business is business’ and that the ‘only social responsibility of business is to increase profit’. Businesses which follow this approach argue that it is not the duty of the business to be concerned about social welfare and indeed this may well detract from the primary means by which the company should be contributing to society; that is by operating in an efficient economic matter. Alternatively some businesses take the view that working cooperatively in an environment, paying attention to and contributing positively to environmental and community needs, creates a more sustainable operating situation for the long term pursuit if busines goals (such as profit maximisation) Cadbury’s is a good early exapmle of an organisation that held this view and much of today’s human resource models in the UK and Ireland owes a lot to the progressive policies of this organisation. Ideas that staff should be well treated; products should not be harmful and that the company should reinvest back into the society in which they operate has had clear benefits got organisation’s like Cadbury’s for...
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...depending on the consumers’ perceptions. It also finds that there exists an information asymmetry between producers and consumers in terms of CSR for their products. The paper supports previous ideas that CSR is useful in benefitting the company brand and value and that it can also be used to influence a consumer’s purchase decision of the cosmetics. INTRODUCTION In conceptual theory, CSR is how a company incorporates “social, environmental and economic issues into their values and business operations in a transparent and accountable manner” (FAITC, 2012). In simple terms, CSR is the actions that a company undertakes or doesn’t undertake during their business functions to benefit society and their stakeholders. There are many arguments for and against CSR and also differing views on whether it actually “pays” to undertake CSR. Friedman (1970) essentially argues that the only social responsibility that a business should undertake is to increase profits for the benefit of its shareholders and that CSR should be left to governing authorities that know best which social responsibilities to act upon. In contrast, Mintzberg (1983) argues that CSR is indeed important for corporations to undertake with...
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...Benji Watson is the type of individual corporations everywhere would be proud to have on their team. New Gen Health Sciences is not his only choice, and I do not believe it would be a wise choice for Benji. The mere fact the Benji is a Liberty University graduate tells New Gen that he values honesty, has strong moral principles and prefers to be ethical in his dealings. These are qualities any corporation would value in their employees, even though the corporate culture of New Gen does not place much value in them. Integrity “For everyone to whom much is given, of him shall much be required; and of him to whom men entrust much, they will require and demand all the more.” (Luke 12:48 Amplified Bible) God has entrusted Benju with the ability to excel in education. This talent will take him into many places where he will have the chance to show and witness to others just how good God is. If he decides to become a part of New Gen, a company he already knows have integrity issues, he could lose what God originally intended for good. He must “guard and keep the deposit entrusted to him.” (1Timothy 6:20 Amplified Bible) New Gen is rolling out the red carpet to Benji, showering him with gifts to paint a beautiful picture to hang in a house built of cards. He must guard himself, “Watch out for false prophets. They come to you in sheep’s clothing, but inwardly they are ferocious wolves.” (Matthew 7:15 New International Version) When the CEO displayed his blatant lack...
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...Relationship Management Andrew N. German, Psy.D, associate professor and director of master’s programs Media plays a significant role in everyday life. How does media affect a couple, whose relationship is under constant everyday media pressure? Using the concept of mediatization as theoretical background for analyzing micro level processes. What is the importance of Communication Skills in a relationship and how does communication weigh in relationship management? Partners must establish good communication skills in order to maintain a successful relationship. However, when a couple is very successful and in the “limelight” so to speak, the pressure is undoubtedly more. Shen, S. (2010, July 29). The most successful busines power couples. Huff Post Business, Retrieved from http://www.huffingtonpost.com/2010/07/29/the-most-successful-busin_n_649622.html. Media plays an even greater risk for these relationships to fail. Media can play mind tricks and play with emotions through falsifying or even extending on a story that may or may not have any truth to the matter. It’s almost as if media’s intention is to exploit and destroy individuals. Kim kardashian files for divorce from kris humphries after just 72 days of marriage. (2012, March 16th). Associated Newspapers Ltd,. So, how do couples combat this demon that comes with the price of being in the “limelight”? Sometimes media...
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... Oct 6, 2013 Assignment #1 International teams: What makes their success? Introduction As we all know, globolization phenomenon is an inevitable trend in modern business work. International team management is another essential part in business. People come from different countries with various culture background could connect with world. When the international team work together, they will be able to maximize the effect and explore the potential ability of company market. However, if the management of international team be ignored, they will creat a variety of communication obstacles and disturb the deployment of the enterprise. Globalization and cultural diversity turn social fields and organizations into very dynamic places. Across borders, across cultures, cross-organizational collaboration on multiple levels there are many great challenges. Language and cultural differences sometimes cause communication difficulties, and some unexpected problems sometimes also can let a person off guard. There will be trouble in any teams which will make the team work uneffectively so that we need arrangement and leadership. In a word, we need to study some successful experience about international team management and learn to overcome the difficulties and solve the problems to creat more benefits. The assignment main contain three parts. Firstly, there will be given some theories about teamwork and international management...
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...Marketing planiranje Marketing Planning Predmetni nastavnik:Nevenka Popović Šević | Polaznik:Sabina ŠabovićDatum predaje28.12.2012. | 1. Be able to understand the meaning role of marketing in achievement of organizational objectives; Marketing is the management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the 4 P's of marketing: (1) identification, selection and development of a product, (2) determination of its price, (3) selection of a distribution channel to reach the customer's place, and (4) development and implementation of a promotional strategy. Marketing is based on thinking about the business in terms of customer needs and their satisfaction. The marketing function facilitates the link between the customer and various key processes within the organization. Recognizing the real importance and the role of the marketing concept in the management of organization, it is necessary to accurately and clearly define the basic principles and elements of the marketing activities management. Considering the management of marketing activities as a process that initializes and directs numerous activities in the organization for the purpose of satisfying the needs and desires of the citizens as consumers, of the economy and society as a whole for specific products and/or services, while providing income for the organization, it is necessary to establish such a marketing management...
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...supply does not keep up with demand. The company goes under, under the strain of their competitor’s pro activeness. Kodak needed to make changes sooner rather than later when their management made decisions that could help or hurt Kodak. Fuji constantly made changes and made the necessary changes to meet their customer’s needs. As a business owner being able to reach and understand each customer will help in sells so profits will rise. Many people continue to shop where products are cheap and convenient. Staying in business is like knowing and meeting different people with different wants and needs and then helping them with finding an inexpensive means of finding them. That is the nature of business and a way to keep a customer satisfied. Building a relationship with customers is the most important aspect in business. If the business does not speak directly to its customer’s they will soon have a loss in customers. Management plays an important part in the structuring of a business if the manager is not being active in the search for new ideas. Or technics to improve the company that company will be lost. New product must be advertised and sold in order to grow successfully. Ideas must be turned into product and problems concerning issues in a product must be...
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...Group 3 Group 3 Contents Introduction: The E-commerce market 2 Market Scenario: India 2 Drivers of Growth 3 Competition & Emerging Market Trends 3 Key Drivers of Industry 5 PESTEL Analysis 6 Government regulations 7 Business model 7 Barriers to entry 8 Lifestyle as a segment 8 The acquisition of Myntra 9 Conclusion: The road ahead 10 Which category to pursue? - A Game Theory Model 10 References: 12 Introduction: The E-commerce market Electronic commerce has emerged as an indispensable ingredient of India’s trade facilitation policy. Since 1991, The economic reforms explicitly took place in India around 1991 which resulted in the integration of the economy with the global economy. This combined with globalization and the advent of Internet has facilitated the growth of e-commerce market all over the world. India first came into interaction with the online E-Commerce via the IRCTC in 2002. The government of India experimented this online strategy to make it convenient for its public to book the train tickets. Since then the market was taken over by airlines and other travel companies which made the mode of ticket booking online. This was taken forward by Flipkart, Snapdeal, Amazon and other companies and today, they rule this industry. The E-commerce business transactions are categorized into business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer (C2C), consumer-to-business (C2B) and the recently evolved business-to-business-to-consumer...
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...Kelly | McGowen | Williams C en ga Australia • Brazil • Japan • Korea • Mexico • Singapore • Spain • United Kingdom • United States ge Le ar ni ng BUSN BUSN BUSN 6, 6th Edition Kelly | McGowen | Williams © 2014 Cengage Learning. All rights reserved. Senior Project Development Manager: Linda deStefano Market Development Manager: Heather Kramer Senior Production/Manufacturing Manager: Donna M. Brown Production Editorial Manager: Kim Fry Sr. Rights Acquisition Account Manager: Todd Osborne en C Printed in the United States of America ga ge Le Compilation © 2013 Cengage Learning ISBN-13: 978-1-285-88034-1 ISBN-10: 1-285-88034-X Cengage Learning 5191 Natorp Boulevard Mason, Ohio 45040 USA ALL RIGHTS RESERVED. No part of this work covered by the copyright herein LL RIGHT th repro reprodu ted, s may be reproduced, transmitted, stored or used in any form or by any means electro graphic, electronic, or mechanical, including but not limited to photocopying, scann di recording, scanning, digitizing, taping, Web distribution, information networks, a or information storage and retrieval systems, except as permitted under o t Section 107 or 108 of the 1976 United States Copyright Act, without the prior writ written permission of the publisher. pro For product information and technology assistance, contact us at Cen Cengage Learning Customer & Sales Support, 1-800-354-9706 For permission to use material from this text or product, submit...
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...Guide to Assessment 2 for MKC1200 Principles of Marketing Due to space constraints, the Unit Outline contains the bare minimum of information needed for this assessment task, so I have put together a few notes here to guide you through. I hope it helps you and results in better quality assignments for us to mark and more rewarding results for you! 1.0 Format and style Basically, you are writing a report on some marketing issues. Make sure you use a consecutive numbering system throughout the report, and an appropriate heading/sub heading for each section – probably somewhat as I am doing in this paper. Your assignment must be submitted in Times New Roman size 12 pitch with 1.5 spacing. Any smaller and it’s very tiring to read after about 25 papers; and with single spacing there isn’t any room for feedback. Remember not to use any personal pronouns: we, us, I, our, your and so on. This is a formal paper and must be written in the third person. Please don’t use slang, either. Sometimes I see phrases such as ‘heaps of…’, and ‘a great idea…’ - this informal style of writing is OK when you’re writing to your friends, or when we’re having an informal conversation, but doesn’t belong in an academic paper that you submit for assessment. Use marketing language wherever you can – think in terms of the core concepts. Abbreviations are also inappropriate in a formal document: hasn’t, doesn’t, won’t, can’t, ad, advert, advt’g. Remember to give words their...
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...(advertisement) about Hitachi’s smart cities and its social innovation business it suggests the following: “Even apart, we are connected. Even in absence we are still joined. Past and present connect! thus； we see the future. IT connects with infrastructure to link the world to bring better quality of life, urban planning, transport, electricity, industry, the enviroment, Hitachi’s expertise, its people, its technology are all at the service of society..... Hitachi inspires the Next ” (Hitachi, 2012) 2.0 Vision statement and report structure “The Hitachi Group is active in various fields ranging from social infrastructures to home appliances, materials, logistics, and services. Our goal is to seek constantly to breathe new life into the next era, an outlook expressed in our corporate slogan: “Inspire the Next.” We seek to become a vigorous company that will grow throughout the 21st century, contributing to society by helping to build comfort and prosperity” (Hitachi, Hitachi ltd, 2012). Above is an extract from a Hitachi advertisement derived from the Hitachi Smart city concept, that the company seems to be centrally pursuing in its global strategy via a strategy called the ‘social innovation business’. The advertisement, vision and the corporate credo gives the audience a nutshell view about the firm's strategic orientation and its purpose. Furthermore the company's vision statement signifies good corporate citizenenship and its social credo in alignment with its stratergy is also...
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...n Richard Branson: The spirit to Succeed Fundamentals of an Entrepreneur 04-75-290-01 Submitted to: Dr. Jonathan Lee Submitted By: Ryan Thrasher Submission date: March 3, 2012 The mind and spirit of an entrepreneur are that unlike any others. In today’s economy, it takes more than the basic traits and skills to succeed in founding and running a successful company. One has to seek opportunity where no one else does and be willing to take adverse risks in order to get ahead. The risk involved in creating your own business venture in today’s economy is astronomical compared to times prior. Charles Dawrin’s theory of ‘survival of the fittest’ reigns supreme in the business world. The ability of a company to create, innovate, differentiate, and grow often determines their chance of surviving. Based on a stats derived from Industry Canada (2009) “Business failure statistics show that about 96 percent of small businesses (1–99 employees) that enter the marketplace survive for one full year, 85 percent survive for three years and 70 percent survive for five years (Key Small Business Statistics - January 2009, Industry Canada). This is why it is imperative for a young and aspiring entrepreneur; to not only encompass a vast array of specialized traits but also be willing to take on the adverse risk involved in following through. The focus of this paper will support those desired traits and characteristics that helped define the great Richard Branson as an...
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...Information Technology Strategic Planning Name: Institution: Date of Submmision: IT Strategic Plan for Jade Fashions Company Limited According to Evans (2002), strategic planning is an organizational management action used to lay down priorities, focus resources and energy and strengthen organization’s operations. The plan ensures that staff and other stakeholders share common goals in their work, establishes accord around intended results or outcomes, and reviews and adjusts the direction of the organization in reaction to any changing environment. It is a closely restricted effort that creates essential decisions and actions to help in shaping and guiding the identity of an organization, what it does, whom it serves, and why it does it, focusing on the future (Kim 2001). In agreement with Evan (2002), strategic planning entails a framework or structure, a set of procedures, and content. A strategic plan communicates the goals of the organization, the activities needed to attain those goals and all of the other significant elements of the planning exercise to the organization. This communication is measurable through a Balanced Score Card. According to Robert Kaplan and David Norton, the Balanced Score Card is a strategic planning and management system used to align business processess to the mission and vision statement of an organization, improve external and internal communications, and monitor the performance of the organization against its strategic goals. According...
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...Contents INTRODUCTION .......................................................................................................................... 2 Control environment and control activities..................................................................................... 3 Framework for Strategic Human Resources Management ............................................................. 3 Regulatory and Compliance ............................................................................................................ 4 Talent Centric Strategy of Human Resource .............................................................................. 5 Retaining and Motivating Talented Staffs with Various Experiences ............................................ 6 Employee Training Strategy ........................................................................................................... 6 Management Values........................................................................................................................ 7 Cultural Balance.............................................................................................................................. 7 Managing Diversity ........................................................................................................................ 8 Environment .................................................................................................................................... 8 Organization...
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...LEADERSHIP AND CHANGE MANAGEMENT ANALYSIS OF LEADERSHIP THEORIES AND CHANGE MANAGEMENT CONCEPTS WRITTEN BY: ANKITA PATIL BATCH: BABM-1 UNIVERSAL BUSINESS SCHOOL CONTENTS Serial No. | Title | Page No. | 1 | INTRODUCTION | 3 | 2 | LEADERSHIP | 3 | 2.1 | LEADERSHIP APPROACHES | 4 | 2.1.1 | TRANSACTIONAL LEADERSHIP | 5 | 2.1.2 | TRANSFORMATIONAL LEADERSHIP | 6 | 2.2 | REALATION BETWEEN TRANFORMATIONAL AND TRANSACTIONAL LEADERSHIP | 7 | 2.3 | X AND Y THEORY | 8 | 3 | WHAT IS ORGANIZATIONAL CHANGE? | 9 | 3.1 | MODLE OF THE CHANGE PROCESS | 9 | 3.1.1 | FORCE-FIELD ANALYSIS | 9 | 3.1.2 | THE THREE STEP MODEL | 10 | 3.2 | TYPES OF PLANNED CHANGE | 11 | 3.3 | IMPACTS OF CHANGE | 12 | 4 | CONCLUSION | 12 | 5 | REFERENCES | 13 | 1. INTRODUCTION: I choose to do the live project in ‘Max Elastic Technocraft’ which is an upcoming elastic manufacturing company. The company’s manufacturing unit is based in Varap gaon, Kalyan-Murbad Road, Murbad. The company is under the SME segment and has annual turnover of Rs. 10,00,00,000. The company manufactures all kinds of elastic bands which include woven elastics, jacquard elastics, mobilon tapes, furniture elastic, shoe elastic etc. There are total 150 employees which includes 2 HR Heads, 10 managers, 20 assistant managers, 5 technical heads, 7 technicians, 10 operation managers, 3 finance officers. The rest are the workers who handle machines according to their shifts. There are 41 machines in the company. The company follows two...
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