...MANAGEMENT CONCEPTS In the text, you were introduced to several different approaches to corporate and business strategy. One model was Michael Porter’s Generic Strategies. Miles and Snow proposed a different classification scheme. Your task in this exercise is to analyze two companies, Virgin and Payless Shoe Source. You will find that these are drastically different companies in many respects, yet both are extremely good at what they do. You are to determine which of the Miles and Snow strategies Virgin appears to employ. Classify Payless using the generic strategies proposed by Porter. You can find information about the two companies at www.virgin.com and www.payless.com. As you analyze the two web sites, see if you can find an indication that the companies may be applying more than one strategy. What forms of diversification, if any, do the two seem to use? (Each analysis is valued at 20 points) It would appear that Virginia used Mills and Snow’s Analyzer strategy. Virginia.com provides a variety of services and products, including white pages, yellow pages, restaurants, national parks, movies, and weather. In addition, Virginia.com is supported by areaGuide.net, which is sponsored by localmatters.com, which provides a different type of product and service. For instance, local matter provides internet, wireless, and voice solutions. This linkage of products and services can be attributed to related diversification, where these multiple...
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...Software Engineering: A Practitioner's Approach Copyright © 1996, 2001 R.S. Pressman & Associates, Inc. For University Use Only May be reproduced ONLY for student use at the university level When used in conjunction with Software Engineering: A Practitioner's Approach. Any other reproduction or use is expressly prohibited. Chapter 1 The Product CHAPTER OVERVIEW AND COMMENTS The goal of this chapter is to introduce the notion of software as a product designed and built by software engineers. Software is important because it is used by a great many people in society. Software engineers have a moral and ethical responsibility to ensure that the software they design does no serious harm to any people. Software engineers tend to be concerned with the technical elegance of their software products. Customers tend to be concerned only with whether or not a software product meets their needs and is easy to use. 1.1 The Evolving Role of Software The main point of this section is that the primary purpose of software is that of information transformer. Software is used to produce, manage, acquire, modify, display, and transmit information anywhere in the world. The days of the lone programmer are gone. Modern software is developed by teams of software specialists. Yet, the software developer's concerns have remained the same. Why does software take so long to complete? Why does it cost so much to produce? Why can't all errors be found and removed...
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...Management is defined as the act or skill of controlling and making decisions for an organization or institution. Any organization despite of industry, and or size requires certain methods and procedure to ensure efficient functioning. In 1916 a management theorist named Henri Fayol, created four concepts of management that are still in use today: Planning, Organizing, Controlling and Directing. Planning is the foundation of successful management. Due to constant changes both internal and external, planning has been labeled the unending task. Planning happens in several stages beginning with the company’s objective; a favorable and rational outcome or realistic goal; should be established. Once a reasonable objective is obtained data should then be compiled in an effort to forecast future service or revenue needs. A good plan must recognize all variables and limitations within its structure including time. A good time table for a goal helps in formulating the study of progress as well as which areas require adjustment. Managers organize by bringing together both physical and monetary resources to achieve objectives. They identify which task requires attention, classify and assign responsibilities to select groups or individuals and delegate authority. Once roles are in place and chain of command is present the time to lead or direct subordinates towards the common goal is essential. Great management motivates and provides subordinates with the proper tools and skills to...
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...Concept of Project & Project Management Under guidance of: Dr. Alok Rai Associate Professor Presented by: Ashutosh Mishra MBA-Marketing FMSBHU Flow of Presentation •What is a project? •Features of Project •Project Management •Project management vs. general management •Project Life Cycle •Phases of Project life cycle •Bangalore Metro Rail Project •Conclusion •References 2 What is Project? The word project comes from the Latin word projectum which means "something that comes before anything else happens". Source: www.wikipedia.org A project is “a unique endeavour to produce a set of deliverables within clearly specified time, cost and quality constraints”. -Jason Westland, CEO MPMM “Trying to manage a project without project management is like trying to play a football game without a game plan.” - K .Tate 3 Features of Project Unique in Nature Defined Timescale Limited Resources Element of Risk Approved Budget Beneficial change Source: Project Management Guidebook 4 Typology of Projects Strategic 2-5 years. High degree of change to customers. Highly complex. Systems 1-2 years. Medium degree of change to customers. Medium complex. Operational Up to 1 year. Low degree of change to customers. Less complex. 5 What is Project Management? In project management a project consists of a temporary endeavour undertaken to create a unique product, service or result. It...
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...John Molson School of Business Strategic Management and Cost Management Concepts April 8, 2010 Section G Table of Contents Introduction 2 1. Overview of Cost Management and Strategy 3 2. Implementing Strategy 5 3. Basic Concepts 10 Conclusion 14 References 15 Appendix I: Product & Period Costs 18 Appendix 2: Balanced Scorecard 19 Companies are constantly trying to improve their business and the quality of their products. While Marketing and Operations Management are two departments that aid in improving a company’s business, the accounting department plays a major role in this transformation as well. Considering the managerial aspect of accounting, a lot of what it takes to improving ones business is cost management and strategy. Strategic and cost management are essential to any business as they provide the foundation for determining problems and improving quality. Strategic and cost management concepts can be broken down into three parts: the overview of strategies that can be used, the ways to implement these strategies and the cost concepts that can be used to manage costs. 1. Overview of Cost Management and Strategy There are several cost and strategic techniques that can be used to improve a company’s overall position. These techniques, however, are within broader topics, such as the business environment, management techniques and competitive strategy. Firstly, a changing business...
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...STRATEGIC MANAGEMENT AND COST MANAGEMENT CONCEPTS Introduction The concepts of cost management and strategic management are the foundations for managers. The growing pressures of global competition and technological innovation have made cost management more critical and dynamic than ever before. Now cost management has moved towards a broader strategic focus than that of product costing. This so-called strategic cost management needs to facilitate strategic management in order to allow the firm to retain its competitive advantage. In order to implement this, benchmarking, value chain, balance scorecard and SWOT analysis should be undertaken. A firm should then identify its strategic positioning in the market: how it will sustain a competitive position. Furthermore, the strategic role of cost concepts will also be described in relation to product/service costing, strategic decision-making (cost driver analysis), planning/decision making and control/feedback purposes. Costs are now more complex than ever since large companies like Proctor & Gamble have a large product portfolio, and costs have become a vital element of a firm’s strategy. In order to understand these concepts fully, we will relate them to real businesses; in particular, we will analyze these concepts with relation to the McDonald’s corporation. Strategic Management Strategic management is the conduct of drafting, implementing and evaluating cross-functional decisions that will enable an organization...
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...CONCEPT OF HUMAN RESOURCE MANAGEMENT – MBA MENTOR Human resource management means management of people at work. HRM is the process which binds people with organizations and helps both people and organization to achieve each others goal. Various policies, processes and practices are designed to help both employees and organization’s to achieve their goal. Human resource management is branch of management that deals with people at work, it is concerned with the human dimensions of management of the organization. As organization consists of people, therefore acquiring them, developing their skills, providing them motivation in order to attain higher goal and ensuring that the level of commitment is maintained are the important activities. Human resource constitutes of all the management decisions responsible for relationship between organization and employees. HRM is the field of management which plans, organizes, controls the functions of procurement, development, maintenance and utilization of the work force so that. 1. Organization goals can be accomplished. 2. Objectives of human resources can be accomplished 3. Objectives of society can be accomplished. According to Flippo, Human Resource Management is: "The planning, organizing, directing and controlling of the procurement, development, compensation, integration, maintenance and reproduction of human resources to the end that individual, organizational and societal objectives are accomplished" Human resource...
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...CONCEPT, ROLE AND IMPORTANCE OF MIS CONCEPT The MIS is an idea which is associated with man, machine, marketing and methods for collecting information’s from the internal and external source and processing this information for the purpose of facilitating the process of decision-making of the business. MIS is not new, only the computerization is new , before computers MIS techniques existed to supply managers with the information that would permit them to plan and control business operations. The computer has added on more dimensions such as speed, accuracy and increased volume of data that permit the consideration of more alternatives in decision-making process. The scope and purpose of MIS is better understood if each part of them is defined individually, thus 1. MANAGEMENT: Management has been define in process or activities that describe what managers do in the operation for their organization plan, organize, initiate and control operations. They plan by setting strategies and goals and selecting the best course of action to achieve the goals. They organize the necessary tasks for the operational plan, set these tasks up into homogenous groups and assign authority delegation; they control the performance standards and avoiding deviation from standard. The decision-making is a fundamental prerequisite of each of the foregoing process, the job of MIS is facilitating decisions necessary for planning, organizing and controlling the work and functions of the business...
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...Running Head: Postoperative Pediatric Pain Management Postoperative Pediatric Pain Management: A Multidisciplinary Concept Analysis Postoperative Pediatric Pain Management: A Multidisciplinary Concept Analysis Acute pain following a surgical procedure is one of the most common stimuli experiences by pediatric patients. Pediatric postoperative pain management has long been overlooked and treated differently than adult pain management. There tend to many misconceptions when it comes to pediatric pain management stemming from the belief that children do not experience pain the same way as adults. Since the pediatric population is not legally allowed to make medical decisions, guardians must make these decisions for them. Postoperative pain in the pediatric patient may be hard to assess and therefore healthcare professionals have begun to involve family members and caregivers in the pain management process. Pain can stem from many sources and thus must be holistic, involve multiple disciplines, provide education and apply to each individual patient. In practice, advocacy for these young children is important in helping them and their families understand about the situation and make education decisions on how to proceed with care. The concept of postoperative pediatric pain management must be analyzed to help resolve these misconceptions and not ignore the population who at times cannot speak for themselves. Review of Literature After a surgical procedure, the pediatric...
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...Management Concepts Page 1 Professor Keith Housser Business 302 Management Concepts January 22, 2012 Management Concepts Page 2 Amazon.com was founded by Jeff Bezos in 1994, and launched in 1995. Jeff left his job as vice-president of the Wall Street firm D.E. Shaw, where he moved to Seattle to work on his business plan for what is now called Amazon.com. Jeff read a report stating that the projected annual Web growth will be 2,300 percent. After reading this he came up with a list of 20 products that he could sell on the internet. He narrowed the list down to what he felt were the five most promising items he thought would sell on the internet. They are compact discs, computer hardware and software, videos, and books. He eventually decided that his venture would sell books over the Web, the reasoning behind that was large worldwide market for books. Then he decided that he could lower the price of the books and sell them on the internet with a huge selection of savings. He then worked on investments’ he two initial investors one got the initial page up and running. Then he added one additional vendor who helped him made his website better by adding customer feedback. He went live with the website July 1995 and became the number one book-related site on the Internet. The Company was growing in 1997; Bezos announced in October that Amazon.com would be the first Internet...
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...Project Management Concepts and Applications Paper Business Management Research Associates (BMRA) teaches Defense Acquisition University (DAU) and Federal Acquisition Institute (FAI) certified courses and elective courses to various agencies worldwide. While BMRA is quite a small company, there is always a need for project management. I have not always been able to lead the projects; I have been a part of the project team to get the work completed, more like an assistant to the project manager. A project that falls under this scope is the one involving the DAU/FAI certification of course materials. The DAU/FAI certified courses offered by BMRA are set to expire this year on September 30, 2015. From October 1, 2015 forward, the expired courses are not valid for credit for students. DAU replaced the expired courses with new ones. The project’s primary goal is completing the certification process for all the required courses before the September 30, 2015 deadline both within time and budget for the company. The DAU/FAI certified courses are BMRA’s primary source of revenue, therefore making this project of the utmost importance. The courses affecting BMRA are listed in the chart below. Previous Course (Expired) Replacement Course (New) CON 215: Intermediate Contracting for Mission Support CON 280: Source Selection and Administration of Contracts CON 217: Cost Analysis and Negotiation Techniques CON 270: Intermediation Cost and Price Analysis CON 218: Advanced Contracting...
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...Abstract The Concept of Strategic Human Resource Management has a widely use but very arrangement of definition. Research has present reasons that if the concept is to have any social systematic value, it should be defined in a way as to characterize it from traditional personnel management, and to allow the development of testable interpretation about its impact. Concept of Strategic Human Resource Management Thought out the research many definitions arose, strategy provides a great structure to support within which is set out what the company is considerate to do about managing people in general or in ordinary areas of human resource management. The strategic is the intention and plan to use human resources to achieve company goals, and it is part of a strategic human resource management process that leads to the development of overall specific performance by human resources management. It depends highly on the viewpoint being taken by human resource management. It can be express as traditional personnel management, as a mixture of personnel management and industrial relations, and as part of strategic, managerial role. Research has demonstrated the benefits of bringing human resource management and knowledge and experience of management. That will reinforces the support and enhance organizational effectiveness of performance. “A typical handbook usually defines human resource management as the management of the company’s employees” ( Scarpello and Ledvinka, 1988, p...
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...DATABASE MANAGEMENT CONCEPTS 1. The DBA asks for your help in planning the data archive for the following Premiere Products database: Rep (RepNum, LastName, FirstName, Street, City, State, Zip, Commission, Rate) Customer (CustomerNum, CustomerName, Street, City, State, Zip, Balance, CreditLimit, RepNum) Orders (OrderNum, OrderDate, CustomerNum) OrderLine (OrderNum, PartNum, NumOrdered, QuotedPrice) Part (PartNum, Description, OnHand, Class, Warehouse, Price) Determine which data from the database to archive; that is, for each table, specify whether data needs to be archived. If it does, specify which data, when it should be archived, and whether it should be archived with data from another table. 2. The DBA denormalized some of the data in the Premiere Products database to improve performance, and one of the resulting tables is the following: Customer (CustomerNum, CustomerName, Street, City, State, Zip, Balance, CreditLimit, RepNum, RepName) Which field or fields cause the table to no longer be in third normal form? In which normal form is the denormalized table? 3. Does your school have a formal disaster recovery plan? If it does, describe the general steps in the plan. If it does not, describe the informal steps that would be taken if a disaster occurred. For the following exercises, you will answer problems and questions from management at Premiere Products. You do not use the Premiere Products database for any of these exercises. ...
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...organizations perform their tasks. The management system and strategy of each and every organization is accountable for the maintenance of the organization's strength and survival in the stiff competition in the business world. The role of the management and the strategy imposed by the organization as a whole should always be open minded for the occurrences of changes in order to adjust and cope with the tremendous development that are happening in the internal and external environment of the organization. With the constantly changing environment, many people especially those in the working organization find themselves normally adapting. This is because change can bring many improvement and development in different aspects of competency. Likewise, change has been modified and tailored by various work organizations for varied reasons. With these changes in business processes, the evolution of different management strategies among business practitioners becomes the new trend. The emergence of the so-called management fashion is now influencing most of businesses today. With this consideration, this paper will be discussing the issues of changes among business in accordance to management fashion as it complies with the theories of legitimacy and institutionalization. Discussion The continuous and dynamic competition in the global business arena has been very stiff and complex. In this regard, the organization must be able to utilize a strategy and management system that will enhance the...
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...Chipotle Mexican Grill Paper [Student Name] [School Name] [Course / Assignment] 20 August 2014 [Instructor Name] Introduction This paper is about Chipotle Mexican Grill restaurant. In this paper, discussions have been made about the Key Areas of Chipotle’s code of conduct that are of major importance for their business. In addition, key steps of Chipotle for implementing the code of conduct for ensuring employees to follow the code of conduct. Moreover, key ways of Chipotle to engage in socially responsive activities have also been included as a discussion in this paper. Key Areas of Chipotle’s Code of Conduct Morals and social obligation are imperative ranges inside Chipotle Mexican Grill's business. Both areas have an intuitive relationship that assumes a part in building gainful organizations and also a balanced group. Morals allude to sets of convictions about good and bad; and business morals include the application of these issues in the work environment. The general moral gauges, which include dependability, regard, obligation, decency, mindful, and citizenship, are benchmarks that apply to all individuals and ought to unquestionably be held high inside the working environment. Social Responsibility is the commitment of a business to help society. Chipotle's social obligation influences representatives, clients, speculators, the group, and nature's turf. In 1993, Chipotle Mexican Grill was founded by Steve Ells. The mission of the organization is putting a...
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