...Management Review Article Internationalization for a company is to broaden its horizons, it is a companies' ability to seek other options and learn new things for its company internationally. The ultimate goal is to learn about other cultures and expand a companies knowledge on a Global level. For a company to only have exposure in its own culture and own country would not attract as much business and it would not make the company as versatile. According to the Article The Performance Implications of International Intensity, Diversity and Distance Internationalization has three main parts: intensity, diversity, and distance. These three elements are studied to learn more about acclimating one country and culture to many other countries and to see how to appeal to the Global Market and gain knowledge and insight outside of a Company's home. Based upon the article in order to successfully take anything out of internationalization a company has to save money or avoid spending more money. Cutting costs is one of the main goals, and a company wants to see how internationalization will make the company more money on a global basis and save the company money. For example when a company is incorporating the intensity aspect of internationalization in needs to be careful the level of intensity and setup costs and foreignness and can play a role in intensity. Once the right balance of intensity is established a company has the ability to learn about the new market and gain new ideas...
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...Short Essay | Diversity in the Workplace | How it can create business related advantages | | Madison Roney: 7660183 | 5/15/2013 | | In modern western society, the diversification of culture has increased dramatically in recent years. With this shift, along with the growing competitiveness of the labor market, corporations have been forced to hire more employees who are not familiar with the spoken language or societal norms present in western culture. Many corporations, as much as 80% according to equity activist Trevor Wilson, consider cultural barriers to be a burden on their managers and fellow employees. As a result, these corporations fail to treat their employees equitably. (Hayes, 1999). One could argue, however, that the diversification of employees within the workplace has various business related benefits such as improved efficiency, bottom line revenue, and relationships formed with co-workers, managers and customers alike. However, to ensure its success, principles of transformational leadership must be used on the part of managers and various challenges must be overcome in order for these benefits to take full effect. This is not the first time in Canada's history where ethnic equality in the workplace has been a subject of interest. In 1993 the New Democratic Party in Ontario, whom was the provincial government at the time, enacted an employment equity law to ensure fair employment opportunities to workers from select minority groups. This legislation...
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...legal, ethical, and philanthropic (discretionary) responsibilities (From bottom to the top) (Carroll, 1999, as cited by Lindgreen, et al, 2009). However, comments from the public and the US government appear to be unsatisfactory to the action taken by BP in this case. This essay will analysis the social responsibility demonstrated by BP by first looking at three journal articles from 2000 to 2010 written by Bird, Hall, Momente and Reggiani (2007); Shen and Chang (2009); and Udayasankar (2008), to further elaborate the insights in the articles and the academic theories into the application of the oil spill case in the Gulf of Mexico SECTION 2: Corporate Social Responsibility Article one Bird, Hall, Momente and Reggiani (2007) examine in their article the relationship between CSR activities and market performance. And the article explain what types of CSR activities the companies done will resulting in a better market performance. Research from the article shows that the market actually did not have a immediate response with the CSR activities (Bird, et al, 2007). In other words, CSR activities in terms of firm reputation may...
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...by: Michele McDonough•updated: 5/26/2011 The proliferation of technology and changes in the business environment have increased the importance of human resources in the modern world. The major challenges facing human resources arise from this elevation of human resource activities to a core strategic function. * Finding and Retaining Talent The primary challenge facing human resource is to have the right people ready at the right time at the right place. The spread of technology and globalization has ensured a level playing field for firms in terms of technology, information, and availability of finance. The human resources of an enterprise, hitherto considered as just another resource such as land or capital, are now the key differentiator among firms, and as such the most critical source of competitive advantage. Although the availability of labor usually exceeds the availability of vacant positions, talent that makes a difference has always remained scarce. The increased competitiveness among firms ensures that finding new ways to increase the level of talent in the organization remains the key challenge facing human resources. The very existence of many knowledge-centric firms in fact depends on the ability of the human resources department to hire and retain the right talent. Retaining existing talent is easier than hiring new employees, and as competition increases among firms, human resources looks at various ways on how to retain talent. Possible interventions include...
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...gasoline then after 7 eleven has been recognized a leader in convenience store and growing widely every year. In 1963, one 7 eleven in Austin, TX located next to University of Texas they remained such busy after football game that they couldn’t close. That day store remained open for whole night and from that day 7-11 adopted culture of 24/7 open convenience store. In 1965, 7-11 launched “Icee” name carbonated semi frozen drink which was a big hit and then they re-launched by name of “Slurpee” now it is a copyright and no other business can use this name. Today its parent headquarter is in Tokyo, Japan and local headquarter is in Dallas, TX where all decisions are made for United States franchise. Forbes magazine named 7 eleven at no. 1 among 200 global franchise companies list for 2013. Company is eminent for their continuous involvement to make their customer happy by fulfilling their needs. They are well-known for their use of technology in business, everyday fresh products and superior guest services. In 2012 they have marked 50,000 stores worldwide, which has surpassed McDonald record. In 2013 they have introduced 7-11 app for smartphones where promotions pop-ups with limited time, it gave them many new customers every day. Each and every store has some uniqueness as it depends on area, people and state for illustration; Washington DC’s stores sells...
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...This memo provides an insight on why a board’s composition plays a crucial role to perform and function effectively and why board diversity has become increasingly necessary in order to add more value to the firm. The board’s composition is likely to impact how the board functions, how it makes its investment and financial decisions and how authority and influence are allocated and manifested within the board.[1] Each organisation has its own regulations and guidelines for the formation, roles and compensation of the management board as there is “no one size fits all” rule, they are largely governed by governmental regulations and other international regulatory bodies such as the Organization for Economic Co-operation and Development (OECD) and the International Finance Corporation (IFC). Some positive relationships have been explored between the number of women, director ages, nationalities and other minorities on the board and the overall value of the firm. Being a household products and pharmaceutical company it is imperative for HouseDreams to incorporate measures to include more women on its board of directors thereby making it more diverse. This is because of the fact that women are the prime household decision makers and have a better understanding on the company’s target consumer. Boards with no or limited female membership may be weak in terms of understanding and connecting with the customer and workforce and offer limited encouragement to female employees. Based on...
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...o r g a n i z at i o n september 2008 A business case for women The gender gap isn’t just an image problem: our research suggests that it can have real implications for company performance. Some companies have taken effective steps to achieve greater parity. Georges Desvaux, Sandrine Devillard-Hoellinger, and Mary C. Meaney Article at a glance Companies that hire and retain more women not only are doing the right thing but can also gain a competitive edge. They can take several basic steps to achieve even greater parity. These companies will be able to draw from a broader pool of talent in an era of talent shortages. What’s more, research shows a correlation between high numbers of female senior executives and stronger financial performance. Women in developed economies have made substantial gains in the workplace during recent decades. Nevertheless, it’s still true that the higher up in a company you look, the lower the percentage of women. But some companies have moved successfully to increase the hiring, retention, and promotion of female executives. Their initiatives have included efforts to ensure that HR policies aren’t inadvertently biased against women or part-time workers, to encourage mentoring and networking, to establish (and consistently monitor at a senior level) targets for diversity, and to find ways of creating a better work–life balance. Changes like these have a price, but there are business advantages to making them—above and beyond the...
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...Introduction Quill Corporation is an office supply company owned by Staples Incorporated. In 1956, the company was founded by Jack Miller who was joined by his brother Harvey Miller a year later. The brothers started selling office supplies to small firms throughout the Chicago area. They would market themselves by going door-to-door to promote their products. By 1963, Quill became the largest mail-order office supply in the country making total revenue of $400 million. In 1998, the Millers sold their company to Staples Incorporated for $685 million where it is still booming in sales (International Directories of Company Histories, 1999). Quill is known for office supply products but sell other products such as cleaning / breakroom supplies, electronics, and business furniture. Quill also provides services such as printing which includes business cards, letterheads, envelopes, and promotional materials; ink and toner finder/recycling, service plans, etc. Quill products and services are only offered online and in catalogs. They have 5000 employees at their corporate office located in Lincolnshire, Illinois and twelve distribution centers located in Florida, Georgia, Ohio, Texas, Colorado, Pennsylvania, Illinois, Wisconsin, Kansas, California, Oregon, and Connecticut. The CEO/President of the company is Sergio Pereira and the company currently have revenue of $1.6 billion. Quill value their employees by offering many activities such as a wellness center, intramural sports, and...
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...Journal of Management http://jom.sagepub.com/ New Venture Teams: A Review of the Literature and Roadmap for Future Research Anthony C. Klotz, Keith M. Hmieleski, Bret H. Bradley and Lowell W. Busenitz Journal of Management published online 26 June 2013 DOI: 10.1177/0149206313493325 The online version of this article can be found at: http://jom.sagepub.com/content/early/2013/06/26/0149206313493325 Published by: http://www.sagepublications.com On behalf of: Southern Management Association Additional services and information for Journal of Management can be found at: Email Alerts: http://jom.sagepub.com/cgi/alerts Subscriptions: http://jom.sagepub.com/subscriptions Reprints: http://www.sagepub.com/journalsReprints.nav Permissions: http://www.sagepub.com/journalsPermissions.nav >> OnlineFirst Version of Record - Jun 26, 2013 What is This? Downloaded from jom.sagepub.com at Jonkoping University Library on November 11, 2013 493325 research-article2013 JOMXXX10.1177/0149206313493325Journal of Management / Month XXXXKlotz et al. / New Venture Teams Journal of Management Vol. XX No. X, Month XXXX 1–30 DOI: 10.1177/0149206313493325 © The Author(s) 2013 Reprints and permissions: sagepub.com/journalsPermissions.nav New Venture Teams: A Review of the Literature and Roadmap for Future Research Anthony C. Klotz Oregon State University Keith M. Hmieleski Texas Christian University Bret H. Bradley Lowell W. Busenitz University of Oklahoma As entrepreneurship...
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...Running head: DIVERSITY IN THE ACCOUNTING PROFESSION 1 Diversity, Gender, and Ethnicity in the Accounting Profession Our Lady of the Lake University DIVERSITY IN THE ACCOUNTING PROFESSION 2 Discussion of gender, race and ethnicity According to the Occupational Outlook Handbook, the accounting profession is expected to grow faster than average through the year 2014. With women and people of color joining the accounting industry at an increase rate, firms are forced to create more inclusive environment (Women, 2008).This type of investigations let us understand better the characteristics, attributes and professional identities and expectations about the privilege and disadvantage people of color face every day in the accounting field (Catalyst 2008). Also minority groups face a barrier too such as the grade point average but this barrier still in debate by accounting firms because a good grade point average don’t always guarantee a good work performance (Julius C. Green & Meenu Khanna 2011). Gender Structure in Accounting Profession. According to research done by Song and Liu (2007), in today’s major accounting firms half of new employees are women and because of that China has been forced to change the working environment and management of the male-dominant firms. The accounting profession has increased its social visibility, but also become a major player in a market based economy. Because of the growth in the accounting sector women’s are the new hard...
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...some of the ways that Sodexo effectively manages diversity? Diversity Inc. constructed a list of 440 companies, and of the top fifty Sodexo was ranked number one (George & Jones, 2012, Chapter 4). Sodexo is considered the best company to work for minorities, women, veterans, and people with disabilities and the LGBT community. Diversity and inclusion are critical to the success of an organization through efficiency and effectiveness. Being that a business in any market is competitive, it is important for companies to embrace diverse employees who can provide the company with different perspectives, cultures, and solutions. Sodexo manages diversity through conducting mentoring programs, diversity training, various encouragement, and interaction. Different groups are constructed by managers that consisted of those unlike themselves to provide a place for people who share similar feelings and beliefs to come together. Employees can interact through these affinity groups that will increase cohesiveness, trust, and performance. Though Sodexo encourages managers to construct mentor groups they are also trained to assess the groups in regards to effectiveness (George & Jones, 2012, Chapter 4). “ twenty-five percent of top managers’ bonuses are based on how well they do on diversity initiatives such as the hiring and training of diverse employees” (George & Jones, 2012, Chapter 4) Companies who do not encourage diversity whether through training or environment can be affected...
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...moderating effect of language diversity Name: Rajae El Aiachi Student number: 10202773 Teacher: Dr Johan Lindeque MSc. In Business Administration – Theories of International Management Date: 27-09-2015 Abstract (50 Words) Previous studies have shown that the choice of entry mode depends on various types of aspects, containing also cultural distance between countries (Arora and Fosfuri, 2000). However, there is not a lot of consensus among these articles. A few articles mentioned the effect of language distance on entry mode choice. Keywords: Cultural distance, entry mode choice and language distance 1. Introduction In this time of globalization a lot of companies are expanding their international business activities in overseas market. The ways in which firms are expanding their business in overseas market differ per enterprise and country. The hierarchical model of market entry modes by Pan and Tse (2000) shows that there are different choices of entry modes. Entry modes can be seen as equity-based versus non-equity based. Within equity-based modes, there is a division between equity joint ventures and wholly owned operations. Within nonequity based modes, there is a division between export and contractual agreements. Prior research demonstrated that the choice of entry modes rely upon different types of components. Especially, a lot of previous studies focused on the effect of cultural distance on entry mode choices. Most of the articles exposed that as cultural...
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...LGE Strategic Alliances and Human Resource Management Chaebols is defined by business structures that consist of firms operating a diverse number of industries, but the group is controlled by a dominant family. The business group accounts for a large percentage of the economy – LG Electronics (LGE) is an example of one of this corporate structure. We will discuss how LG has impacted the South Korean economy as well as outline the positive and negative characteristic of chaebols and the South Korean economy. We will identify LGE’s human resources strategy, and how they deal with diversity. I will also explain one of LGE’s strategic alliance and its global objective. The Organization and the Purpose of Chaebols LG Electronics was established in 1958 as GoldStar. They produced products like radios, TV’s, refrigerators, laundry units, and air conditioners. There advanced digital expertise and technological expertise has catapulted them to become one of the industry leaders in technology. LG continues to reinforce their vision of become a global leader in digital by creating innovative products and ensuring superior customer service. The company, continues to unveiled new products, new technologies that continues to reinforce their status as one of the global leaders. LGE is s the world’s second largest manufacturer of television sets with forty-five percent of sales coming from the home electronics division of the company. Twenty-two percent of sales come from the home...
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...they can continue to survive and thrive in a highly competitive global economy. As companies are becoming more and more diverse it is becoming more and more important for companies to understand and manage diversity. The people of different background, races, religion creates diverse workforce. There is an importance of having diverse workforce to provide better performance. There are perspectives of managing the diverse workforce, which require organization leaders and managers of being responsible of attaining better diverse workforce. Diversity means differences, difference of age, sex, race, religion and culture etc. People with different demographic differences working in the organization makes diverse workforce. And it is becoming more important for the organizations to know about these differences and how to manage it. Diversity is also the common issue in the workforce environment, in some companies employees often get discriminated or misunderstood because of the diverse features. So it is important for the companies to manage the diversity workforce to value best performance. As differences have often been associated with discrimination, bias, unfair treatment and conflicts, managing diversity in workforce is an important task for managers today. Managing diversity in the workplace refers to the ways of managers used in ensuring employees in the organizations who come from different group do not suffer discrimination. Management can mobilize the differences and similarities...
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...ACADEMIC INTELLECTUAL DIVERSITY VOLUME 8, NUMBER 1 2004-2005 Assessing A Firm’s Future Financial Health Alicia Kritsonis MBA Graduate Student California State University, Dominquez Hills ABSTRACT The purpose of this article is to explain a step-by-step process that can assess whether a firm will remain in balance over the next two to three years. Various financial ratios will be discussed as a critical aspect of this process analysis. A case study of assessing the future health of the Harley Davidson, Inc. using a ratio analysis is included in the article to explain the step-by-step process used by managers to ensure a firm’s success. A great analogy comes to mind when considering the effects of assessing your firm’s future health. It is helpful to think of your firm as a three-legged stool. The legs are operations, marketing, and finance/accounting. As you, the leader, try to sit atop the stool, it must be balanced so that you can shift your position and sit comfortably. However, if one of the legs of the stool is too short or too long, then the stool is difficult to manage and unstable (http://www.thefullermangroup.com). Here is an example of an unbalanced firm. A firm borrows cash in order to expand its facility and operating capacity. However, sales remain constant resulting in a cash shortage. Consequently, the increased overhead costs diminish the working capital. Purchase discounts are missed resulting in decreased margins. The firm is in a state of crisis...
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