...Introduction Nowadays, improving performance of employees is the one of the most important and significant concerns of all businesses. It is because employee’s performance has direct impact on the business performance and success of the company. According to McCormick (n.d) there are different methods that can be used by a company to improve its employee’s performance such as motivation strategy, employee training and performance management. However, this essay will not discuss about the mentioned methods but to focus on the goal setting method. The main purpose of this essay is to analyze the impact of goal setting in improving employee performance as well as to make some recommendations to enhance the implication and effectiveness of goal setting strategy. Goal setting analysis The manager of the Human Resource department of the company has listed the four key points of goal setting strategy which are: * Goal setting process * Types of goals * Levels of goals * Interim review and feedback This part of the essay will analyze these four key aspects of the goal setting strategy by indicating evidences from previous research and journal articles. Following is the analysis of four key points of the goal-setting strategy. Goal setting process The explanation of the goal setting process from the point of view of the manager is that employees will “be assigned” “specific goals” from managers based on the company’s business performance and annual plan. So...
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...To: Val Michaels From: Kiran Zubraev Date: September 19, 2012 Re: Improving the hiring process for Corporate and Business Sales I. Current situation Vivacom is a large company in the field of telecommunications. After the privatization the company’s structure and strategy were changed. The accent is on quick profit achieved by extreme sales push. In the current situation the Account Managers are required to sale as much products as possible but also to retain the responsibility of servicing the corporate and business customers in a proper manner. Often appears that employees who are with the company for a few months only, need to be released because of their inability to cope with the job responsibilities and the stress. The HR department invests time and money in the training process but on the other side neglects the hiring process, because of which the latter is slow and inefficient. II. Problems The process of hiring in Corporate and Business sales in Vivacom is slow and inefficient. Because of lack of recruitment team, the HR management of the company relies too much for the hiring process on the Account Executive Managers (Team Leaders) and the Directors of Corporate and Business departments. The HR managers delegate the right of choosing and hiring the candidates, to the direct management of each of these two departments. The Human Resources personnel do not fully participate in the hiring process, which makes the process time taking and brings the problems...
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...of cost-benefit analysis to improving business decisions Cost-Benefits Analysis (CBA) is the process of using theory, data, and models to study products, exchanges, and activities for measuring relevant ideas and alternative solutions in order to support decision-makers in choosing the most appropriate alternative. This paper explores how CBA may best be used, focusing on the effectiveness of CBA during the early phase of a program life-cycle in ensuring that there are worthwhile alternatives in making investment decisions. It also examines the measures and the methodology used to develop a CBA, addresses the accuracy and reliability of CBA, and identifies techniques available to support decision-making in the early phase of a program’s life-cycle. It also notes, however, that because not all costs and benefits can be quantified, measures other than CBA should also be considered in making business decisions. The effectiveness of CBA lies in its ability to provide increased understanding of the consequences of proposed public programs. CBA must be understood as one means to support decision-makers in making the best decisions for the public good. The value of CBA will vary with the importance of mandates, policies, and regulations. For example, CBA offers a well-established and tested approach, supported by substantial research, for identifying and assessing corporation. A CBA can enable decision-makers to make prioritized decisions about business programs. It provides a broad...
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...Ankit Singh and Juan Alberto Calero Part A – e-Commerce in China vs USA 1. Overall, what are some key opportunities and challenges (obstacles) that confront ecommerce in China? How are these challenges similar / different from those confronting e-commerce in the US (or other countries that you are more familiar with)? Some of the key opportunities of e-commerce in China are: The internet penetration rate in China is growing at a much faster rate as compared to other countries. 25.5% users in China have engaged in e-commerce, while in US 71% has done so. This represents an enormous opportunity for e-commerce services, given that there is room for growth in China. The market is China is still in the beginning of its growth stage. The manufacturing prowess of china provides an excellent complement to the ecommerce market. Online shopping market has grown 64.1% over last year to $1.5 Billion. Online B2B market is valued at 65.7 B 69.8% yearly growth. With these accelerated growth rates, the e-commerce market will developed very quickly, players need to be aware of the stage of e-commerce in China and address the market accordignly. Small and medium sized enterprises (SMEs) contribute to 68.8% of nation gross industrial output. Only 28% of SMEs utilised third-party B2B e-commerce platform. The government has a plan to increase it to 80% by 2012. Given this, the projected demand for e-commerce is known. In addition , players also known which type of businesses are using e-commerce...
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...SG C1 True/False Indicate whether the statement is true or false. __T_ 1. IBM defines electronic business as "the transformation of key business processes through the use of Internet technologies." ___T_ 2. A transaction is an exchange of value. ___F_ 3. A transaction always has one or more activities associated with it, and an activity will always be related to a transaction. __T__ 4. Transferring funds, placing orders, sending invoices, and shipping goods to customers are all types of activities or transactions. __F__ 5. Business-to-consumer electronic commerce occurs when a person sells an item through a Web auction site to another person. __T__ 6. The U.S. government is one of the largest EDI trading partners in the world. __T__ 7. Firms such as Walmart and General Electric have been pioneers in using EDI to improve their purchasing processes and their relationships with suppliers. __T__ 8. A value added network (VAN) is an independent firm that offers connection and transaction-forwarding services to buyers and sellers engaged in EDI. __T__ 9. The increase in broadband connections in homes is a key element in the B2C component of the second wave. __T__ 10. In some cases, business processes use traditional commerce activities very effectively, and technology cannot improve upon them. __F__ 11. The skills of merchandising and personal selling can be easy to practice remotely. __F__ 12. A small-denomination item...
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...e-commerce and e-business have increasingly become a necessary component of business strategy and a strong catalyst for economic development. The integration of information and communications technology (ICT) in business has revolutionized relationships within organizations and those between and among organizations and individuals. Specifically, the use of ICT in business has enhanced productivity, encouraged greater customer participation, and enabled mass customization, besides reducing costs. However, this is premised on strong political will and good governance, as well as on a responsible and supportive private sector within an effective policy framework. This primer seeks to provide policy guidelines toward this end. E-BUSINESS E-business is the use of the Internet and IT to execute all of the business processes for the firm. E-business includes e-commerce, all internal processes, and coordination with business partners such as customers and suppliers’-business refers to the use of digital technology and the internet to execute the major business processes in the enterprise. It includes the activities for the internal management of the firm and for coordination with supplier and other business partners. It also includes e-commerce. E-business is the conduct of business on the Internet, in supply-chain planning, tracking, fulfillment, invoicing, and payment. It includes buying and selling as well as serving customers and collaborating with business partners. ...
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...study of an Omani firm Renaissance Services SAOG (hereafter, Services) explains and shows us the growth on international scale of a family owned business. In order to understand the case, several key components were identified, and were analyzed to see its text book validity. Each component is critically analyzed as the case study progresses. 1.1Introduction of the Firm As an entrepreneurial firm in 1996, Services has progressed immensely across the globe. Its chairman and founder Samir Fancy had a crystal clear vision and by disclosing it to every Tom, Dick and Harry of the firm, Services gradually progressed on international level. The firm is primarily an oil and gas industry services company, and is listed on the Muscat Securities Market in Oman. It has an excellent offshore fleet of vessels, and is counted among the world’s top ten in providing global oil and gas industry service. According to its official website (http://www.renaissanceoman.com), Services has over 12,000 employs, operating in over 16 countries. The 2012 revenue of the firm was US$ 0.67 Billion. Apart from this sector, Services also engages in several other services related sectors, such as marine engineering, media communication, and also engages itself in education and training. The firm also engages itself in Corporate Social Responsibility, by improving the standard of living of local community by promoting local employment, investing in local talents and supporting good causes in the community...
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...The current issue and full text archive of this journal is available at www.emeraldinsight.com/0960-0035.htm IJPDLM 37,1 B2B e-marketplaces: a typology by functionality Kenneth J. Petersen Department of Management, Colorado State University, Fort Collins, Colorado, USA 4 Received January 2005 Revised July 2006 Accepted July 2006 Jeffrey A. Ogden Air Force Institute of Technology, Wright Patterson AFB, Ohio, USA, and Phillip L. Carter W.P. Carey School of Business, Supply Chain Management, Arizona State University, Tempe, Arizona, USA Abstract Purpose – The purpose of this article is to develop a typology of e-marketplace functionality and then link the typology to the associated value creation potential of differing types of e-marketplaces. Design/methodology/approach – In-depth interviews with the executives of 50 e-marketplaces, a web/mail-based survey of another 350 e-marketplaces and interviews with several e-marketplace customers were conducted. Findings – B2B e-marketplaces offer a variety of different value propositions. Leading e-marketplaces have a well-developed strategy for reaching a particular segment of the buying community, based on service needs. Developing e-marketplaces do not demonstrate the same focus. On one hand, only a few e-marketplaces had developed the same winning constellations of services, while on the other hand, most were planning a roll-out of a wide variety of services that would carry them far beyond a focused strategy. The...
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...Abstract According to Beynon (2004), electronic business, commonly quoted as “E-business” is the set of all the activities of business by using information and communication technologies. Electronic business methods make corporates deal with their internal and external data processing systems more effectively and flexibly, cooperate more closely with suppliers and partners, and better meet the needs and expectations of their clients. Classified by market relationship, there are there models: business-to-consumer (B2C), business-to-business (B2B), and consumer-to-consumer (C2C). As a small company providing consultancy services in life science, the best sales strategy for Evolution Bioscience is E-business. However, this company does not make full use of its official website and several social media accounts to develop its business. This article describes Evolution Bioscience existing strengths and failing in using digital platforms such as its website and social media accounts first, and then, using SWOT and business models to analyse the company’s internal situation and via analysing the main social media to choose the suitable social media. Finally, according to the business models analysis, a recommendation mainly refers to B2B development is performed. Current situation of Evolution Bioscience EXISTING STRENGTHS As Jukes and Zilling presented in 2012, the most important for a company in E-business age is establish an official website. Evolution Bioscience...
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...E-commerce entails the use of the Internet in the marketing, identification, payment and delivery of goods and services. This paper highlights the status, statutes, potential and constraints to e-commerce development in Bangladesh. Both the statutory laws as well as the challenges in implementing them are discussed. Major legal, regulatory and institutional constraints to e-commerce are identified. The paper also lists specific policy changes aimed at bringing improvements to the legal and regulatory environment affecting e-commerce. Dimensions of E-Commerce The three dimensions of e-commerce are Business-to-Consumers (B2C), Business-to Business (B2B) and Business-to-Government (B2G). B2C e-commerce is unlikely to be of much use in the near future in Bangladesh because of low per capita income, a weak infrastructural and legal environment, lack of trust between business and consumers. B2C for cross border trade is also limited by the factors suggested for the domestic front. In addition, non-availability of international credit cards, foreign currency remittance restrictions, delays and informal payments at customs clearance even for small value and quantity items will discourage B2C. The B2B application already exists in the export sector of Bangladesh, especially in the Ready Made Garments (RMG) industry. RMG has the lion’s share of the export earnings in Bangladesh. The RMG sector has begun to use the Internet, and its dependence on ecommerce is likely to grow...
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...Globalization has brought in many changes in the business scenario with the whole world inching towards a big market place. Communication between buyers and sellers become critical as each can opt to explore a greater number of alternatives than before. E-commerce through the use of internet, e-mails, websites and other facilities enables a businessman to be linked with every corner of the world and thus opens up greater opportunities in the world market. As a signatory of WTO practices Bangladesh has accepted The Code of Good Practices of WTO agreement on Technical Barriers to Trade. E-commerce facilitates the very process of International transactions; this involves securing and finalizing a contract, delivery of a product and finally payment for the performance of the product. The movement of goods and services and payment mechanism within a country and outside of a country is governed by regulatory and legal issues. Though Bangladesh Govt. has a strategic vision and policy framework to boost up e-commerce, a lot of factors are also hindering the way of doing E-commerce. Definition of E-Commerce: E-Commerce refers to the process of buying or selling products or service over an electronic network. The most popular medium in which e-commerce is conducted is the internet. It combines a range of process such as: • Electronic Data Interchange (EDI). • Electronic mail (E-mail). • World Wide Web (WWW). • Internet Applications. • Network Applications. ...
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...Business-to-Business Messages Comm/470 September 5, 2011 Business-to-Business Messages Business-to-business (B2B) messages are sent and received by the organizations, companies and business firms. These messages can be sent for various different purposes including invitations to do business, initiating a new business together, for joint ventures, and other reasons. Communication is extremely important for businesses that work in the virtual environment. The communication process includes the environment where the message takes place, the sender, the message that is created, technology used to send the message, noise, the receiver of the message, and the feedback that is returned. This paper will be analyzing three business-to-business messages using the communication process. The analysis should also include a descriptive explanation of characteristics that would improve the messages, including whether the message and technology were appropriate given the environment and purpose. A business-to-business message will be written to ABC Company asking to create a working relationship with XYZ Company; and write an unfavorable reply message to ABC Company. Analyzing Messages Businesses used different methods of communication when communicating with other businesses such as email, letters, memos, and proposals. The three messages that will be analyzed are going to be a business proposal, an invitation and recognition from other business. According to "Wisegeek" (2003-2011)...
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...risks that stem from economic, environmental, and social developments.” Being in the talk and listening to the speaker made me aware of the responsibilities and actions that I would have to make, as a current co-owner of a start-up business, to help the environment and society in general. A few simple steps that we could do in the implementation of our business is to minimize our wastes, employ more environmentally-friendly materials, reduce the amount of energy that we use to produce our products, or add a social dimension to our business such as providing jobs to people who need them, among other things. The talk also taught me that Corporate Sustainability involves the efforts of all aspects of the business such as operations management, finance, marketing, and accounting. The efforts of all these departments combined contribute greatly to the improvement and development of sustainability in the corporate setting. Establishing a Corporate Sustainability approach in any business not only benefits the company by improving its financial performance, lowering operating costs, enhancing brand image and reputation, or increasing productivity, but also it benefits the environment and the community by making charitable contributions, improving corporate involvement in community education, employment, and homelessness, and increasing material recyclability and use of renewable resources....
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...professionals need to get technical with their understanding so as to ensure a full understanding of the possibilities of the benefits of technology rather than only relying on their technology department to serve in this capacity. Secondly, executives need to embrace collaboration. Chief marketing officers and chief information officers are working more and more together in a daily operational setting with other parts of the organization benefiting from the gained information fostered from their close union. Thirdly, everyone from the Chief Executive Officer to front line employees need to lead the charge in maximizing the benefits that technology can provide in reducing the gaps between departmental areas. The fourth goal is to prove business results are improving by looking at the direct...
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...important; these reports are needed balance sheets, income statement, and cash flow, tread analysis. Kudler Fine Foods would even have the option to pull a store comparison report. Determine each department budget, along with sales, inventory which are listed as non-financial accounts. When it comes to purchasing large amounts of specific food items internationally, that would require penalty of paperwork and meeting the requirements. Through retail enterprise management system, the accounts payable module addresses the concerns with international purchases; thus this saves time. Core Technology Retail enterprise management system would provide certain security features. Password protection is extremely important today, within a business and even in a home environment. One feature of the security would be setting dollar limits,...
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