..."As manager’s adviser to a possible new firm, set out the entrepreneurial new business lifecycle to help the business owners develop a strategic plan, also the options and challenges they will face in the growth and development phase ,and later on , when pursuing a “going global’ focus." At the beginning, what is Entrepreneurship? Entrepreneurship is strategic thinking and risk-taking behavior that results in the creation of new opportunities. The Entrepreneurs are either; * A classic entrepreneur is someone willing to pursue opportunities in situations others view as problems or threats. * A serial entrepreneur starts and runs businesses and nonprofits over and over again, moving from one interest and opportunity to the next. * A first-mover advantage comes from being first to exploit a niche or enter a market. What many people think is that entrepreneurial ventures and small businesses are one and the same, but they aren't. Entrepreneurial ventures are organizations that pursue opportunities, are characterized by innovative practice, and have growth and profitability as their main goals. While, Small Businesses are organizations that are independently owned, and financed; has fewer than 100 employees; doesn't necessarily engage in any new or innovative practices; and have relatively little impact on its industry.(p292) Attitude & Personal Interests of Entrepreneurs * Internal locus of control. * High energy level * High...
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...experiencing rapid growth and a resultant increase in manpower to accommodate their company strategy. This has led to the lagging of the development of an Enterprise Architecture to support and manage this growth. While the company strategy is sound, the process of migrating from a project to a matrix structure has not been successful and has increased the organisation complexity resulting in chaos with respect to role clarity, authorisation and decision-making levels, coordination of resources and projects. From the quote by Vice Admiral Conrad Lautenbacher (USN –ret) “Matrix Management simply means that in addition to the ‘islands’ there will now be a clear bridge linking team talent, funding and management issues”. From the above one can clearly see that the “clear bridge” has not been successfully implemented. Enterprise Architecture is required to ensure that the company’s Business processes, data and information processes, systems and resultant behavioural culture supports the business operational requirements to achieve the company’s strategies. It is clearly evident that Multi Projects has advanced in growth by being externally focussed but has not looked internally to ensure sustainability through the business capacity to deliver. The company has focused on the lagging balance score card indicator of financial performance and has ignored the two leading critical indicators of internal business processes performance and learning and growth performance. This...
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...Business Administration Business Administration is the stepping stone, the foundation, and the pillar, that’s needed to start a business. It branches to other subjects needed for business, such as business planning, marketing, business ethics, and business law. Business Administration is indeed the process of managing EVERY aspect of a business for growth and/or stability of that business. In other words, it’s the very heart of a business. You might ask yourself “what is business administration?” It’s ok; I asked myself that same question when starting my quest to own and manage my own business. Business Administration is the process of managing EVERY aspect of a business in order for it to maintain its growth or stability, depending on the overall goal of the owner or owners (Black). A lot of companies have a team of dedicated business administrators who work to ensure the growth and stability of the company or business. The man that sits atop of the entire administration is the CEO (chief executive officer) or president of the company. In most cases those two titles represent two different people. The CEO usually has a number of vice presidents under him, who in turn have teams for management, marketing, and research and development. I’d say that Business Administration is the foundation for owning and managing a business. There are aspects of Business Administration to learn if you want to be a successful entrepreneur, such as how to make a business plan, knowing about...
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...Term Paper Title : Strategic Planning and the Marketing Process (Chapter: 2) Prepared For : Syed Abul Kalam Azad Professor Department of Marketing Faculty of Business Studies University of Dhaka Members Profile : (i) Md. Ershadul Islam Id no: 41323024 E-mail: ershad1811@yahoo.com Phone: 01717-461080 Position: Manager (ii) Md. Masum Sarder Id no: 41323033 E-mail: masum.sarder@gmail.com Phone: 01913-135057 Position: Executive (iii) Abu Nasar Zahid-Al-Mahmud Id no: 41323008 E-mail: saadi013@yahoo.com Phone: 01912-027058 ...
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...Chapter 15—Marketing Performance Measurement MULTIPLE CHOICE 1. The balanced scorecard measures the performance of a business unit from: |a. |a customer perspective. | |b. |a financial perspective. | |c. |a learning and growth perspective. | |d. |all of the above. | |e. |(a) and (b) only. | ANS: D PTS: 1 NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Managing strategy & innovation 2. The level of marketing control that examines whether the strategy is being implemented as planned and whether it produces the intended results is termed: |a. |strategic control. | |b. |annual plan control. | |c. |strategic component control. | |d. |profitability control. ...
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...DONALDS CASE STUDY McDonald’s a leading fast food joint ,has enjoyed over 40 years of exceptional performance. In 2010, for example, the company had registered 10 years of 20 per cent per annum growth. EDITOR’S CHOICE The challenge: That year, Jack Greenberg became the company’s fourth chief executive. His main concern was how to lead the business in less favourable market conditions. McDonald’s was facing concerns about fatty foods and about beef; competition was squeezing margins; and growth from international markets was slowing. The strategy: Mr Greenberg did what the textbooks suggest. First, he focused on improving the core business, announcing it as his top priority. Then, he also set a second priority: to find a new platform for growth. With this audacious goal in mind, he supported five acquisitions of related restaurant businesses – including Chipotle, a Mexican food restaurant, and 50 per cent of Pret A Manger, the UK sandwich chain – and he set up the Partner Brands Division, to be responsible for these new businesses. Mr Greenberg also opened the door to a number of other, more organic initiatives led by his head of strategy, Mats Lederhausen. What happened: Mr Greenberg found it difficult to dedicate enough attention to both priorities. The core business continued to deteriorate and in 2001 McDonald’s announced its first quarterly loss and the resignation of Mr Greenberg. Jim Cantalupo, a retired McDonald’s executive, was asked to return as CEO...
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...Module Code: 56214 Student No. 201112880 Managing in Organizations The University of Hull Business School Module Name: Managing in Organizations Assignment: A Critical Analysis on the Importance of Organizational Culture and its relation with Motivation in XYZ Technologies Co. Ltd. Page 1 of 27 Module Code: 56214 Student No. 201112880 Managing in Organizations The University of Hull Business School Assignment Question “Choose one or two areas covered in the Managing in Organizations module. Critically analyze these areas with the context of an organization in which you have worked or with which you are familiar.” Page 2 of 27 Module Code: 56214 Student No. 201112880 Managing in Organizations The University of Hull Business School Contents S.I. 1 2 3 4 5 6 7 8 9 Introduction XYZ Technologies – Background Theories of Organizational Culture Role Culture Factors of the Culture Theories of Motivation Expectation and Motivation Motivational Factors Conclusion Description Page Nos. 4 5 7 9 12 18 21 24 25 Page 3 of 27 Module Code: 56214 Student No. 201112880 Managing in Organizations The University of Hull Business School Introduction Telecommunication industry is one of the largest industries of 20th century. Competition among the companies is getting tighter day by day. Although more detail or composite investigation is required to prove but there is at least some strong reference that variations in cultural values...
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...profitability ratio, liquidity ratio, gearing ratio and investment ratio. All of this ratio will lead them to understand corporation’s current position, operational efficiency, and financial situation, perdition of profitability and growth prospect through financial analysis. It either gives the information and significance to guiding the corporation managers to improve its services or change marketing strategy.it is also important to check out the corporation’s financial error and handle it in time. As investors, they can realize how well the corporation done within a year and what the corporation will do in the next year and what is their strategic planning when they go through the entire financial analysis report. Then depend on their own experience and knowledge, they will design where they go. It may be make them stay on or leave out or increase their capital into same corporation because of corporation‘s profit and bonus keep going up or redistributed their capital into different corporation to reduce their investment risk. * Banyan tree holidays limited company 2. Firm, industry, and environment 2.1. Descriptions of firm and its management Ban Yan Tree Holidays Limited is a corporation which mainly operates spas, hotels and restores business. It had cost to 30 hotels and restores, over 60 spas and 80 galleries separately distributed in china, Indonesia, India, Korea, Mexico, Thailand, Vietnam ,Maldives United Arab Emirates and Seychelles. And that each restores had...
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...colleges and universities that focus on developing a broad range of managerial knowledge and abilities (Mamun & Mohamad, 2009). Business education prepares students to learn the basis of thinking critically, communicating effectively and managing small and large enterprises so that they can serve society in a successful and socially responsible manner (Cavico & Bahandin). Liberation, Privatization and Globalization (LPG) initiated an exponential growth of management education that replaces traditional approach with a more efficient professional approach. In addition to this, Information Communication and Technological (ICT) development has made...
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...Managing Innovation and Change At some point all organisations will face change. These changes may be moderately small, or they may impact significantly across the organisation. They may be as a result of internal developments example of this can be expanding their work staff or changes can be through external developments which can be through the environment or the economy changing which leads the organisations to react to it. The quote stated by (Senior and Fleming) “While the primary stimulus for change in organisations remains those forces in the external environment, the primary motivator for how change is accomplished resides with the people in the organisation” (Senior and Fleming, 2006, p.348). This explains both factors internally and externally are important to consider if you want to manage change effectively in an organisation. There are different types of changes such as 'Grundys' which consists of smooth incremental, bumpy incremental and discontinuous. Grundy’s different types of changes which shows different pattern of lines on a graph showing what type of change is occurring is a useful tool for the organisations to asses and can decide whether it should change or not. The smooth incremental line the organisations are able to predict where it is heading due to the slow pace and not much movement as mostly its heading the same direction. The bumpy incremental line which is relative equilibrium interspersed with accelerated pace of change. The final line which...
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...Working Capital - Managing Growth FIN/571 07/07/2014 JOHN KUSHNER WORKING CAPITAL- MANAGING GROWTH Introduction Working capital management plays an essential role in keeping a business running and producing wealth for its shareholders. While analyzing the entire data details of Sunflower Nutraceuticals (SNC) Company, we can identify which decisions will increase the company working capital and maximize the company growth. We can also examine how changes take place in each phase of the simulation and finally evaluate in the final step the general affects associated with the limited access of financial mix. SNC background SNC is a privately owned distributor of vital dietary supplements such as herbs for women, vitamins, and minerals for all the consumers (mainly women), distributors and retailers. Created in 2006, SNC was able to extend their business and opened various retail outlets making a name for the company in the industry by introducing their own brands of sport drinks, vitamins for teenagers, metabolism- boosting powders, and other products. The company has a great potential for growth, but it is still struggling to break even and several times had to exceed the company’s credit line to finance the payroll and other operational expenses. Due to restrictive financial options, they are only able to use a small percentage to evaluate and invest in business expansion which could boost great opportunities. We will analyze the changes in sales, EBIT, company value...
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...small, the large and the growing business, which Drucker breaks down into four stages of business size (small, fair-sized, large, very large business). He discusses the problems and potential solutions for each. The chapter’s title pretty much says what the chapter is about. The themes relate to management because they provide a sense of the different types of size of management. A key question they ask towards the middle of the chapter is when a company begins to get to large “How close are we to unmanageability? That question is key for companies that are involved with oil and such. Another key theme in this chapter was the smallness of a business. Drucker explains the problems that a small business might have during this chapter. During this part of the chapter he mentions that if the business is too small it might not be able to support the management they need. Financially sometimes it may not be able to pay what a first rate man can get in a larger company. Sometimes the smaller company does not offer a challenge to managers like the large businesses. A lot of small businesses are also family owned. The problem with this is that family members who get in the company might not like it and quit or they just do enough in the company to get by. I can relate to this in a way because my uncle owns a business and he has never had this problem. Even though my uncles business doesn’t have this problem Drucker says that each family owned business should adopt an ironclad rule that...
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...Running head: Florida Company Fastens Its Sights on Global Growth Florida Company Fastens Its Sights on Global Growth Brandy Taylor Kaplan University MT203-05: Human Resource Management Professor Eric Freeman September 6, 2010 Florida Company Fastens Its Sights on Global Growth The case study in Managing Human Resources textbook states, Robert Kilbey has been in business since been doing business since the 1960’s, and becoming Walton County’s largest and most stable employers. Now forty-two years later his son is expanding the business and taking it international. Robert’s is very clear that he does not just hire anyone and that instead of laying off any employees or doing a mass and quick hiring they will work short weeks and cross-train all employees. This for him has worked for the forty years and with the company going international and out-sourcing, they will not have any jobs disappear. Review/ Analysis of the Case Professional Products’ sells product that they are very particular about and make sure that they give their customers nothing less than the best. With this, they also hold this same high standard when hiring their employees. They want long-term reliable employees and will not hire anything less. After being in business for forty-two years, they are going to go global and use possible out-sourcing for some jobs. This can cause current employees to fear for their jobs, however, Robert Kilbey will not let any of his current employees...
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...| Understanding and Managing People | Student Number:12827721 Module Code: SM524U Industry Sector: Travel Content Review Number 1 Date: 21.11.2013 | Management Structure Topic Area: How can structure and effective management influence reorganising a business? Scenario Charlie Brown and his brother Ben Brown started up a business in 1999. They both enjoy sports, so decided to invest in starting up their own travel agency company, which they called Beyond Sports Travel Belief. The company offers package holidays for worldwide events, such as football tournaments, Olympics and a range of other sport events. Beyond Sports Travel Belief expanded having two branches, employs 2 supervisors and 6 booking clerks. Charlie was the one who managed the business, recruiting staffs and issuing responsibilities, while Ben’s role was to market their products, building the company’s brand. Unfortunately, Charlie left in 2010 leaving Ben as manager to manage his employees; including his two supervisors. This deteriorated the structure of the business. Charlie leaving had a massive impact on the company and it went to a stand still due to overloaded responsibilities. Introduction This essay is a reflective review and appraisal that has been put together to emphasis the importance...
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...of HR Running Head: Importance of HRM in International Business Importance of HRM in International Business [Name of Author] [Name of Institution] 1- Outline Importance of human resource management is now globally recognized and business growth is related to better management of human capital of a company. The present research proposal, henceforth, sets ground to investigate the importance of managing, running, and stabilizing human resource in order for the growth of business. It aims to contribute to the existing research of human resource management (HRM) by organizing secondary sources and relating it specially to the expansion of business across borders that has come to be known as multinational companies operating in a number of different countries (INVESTOR, 2008). The paper also examines various facets and implications of across border business activities that aim to take place majorly due to HR issues such as mergers, acquisition, and so on (Chapman, 2001). Another important aspect of HR and business spreading over the international boundaries is cultural aspects of a specific region, country, or state that a business venture must come to recognized as a valid component. It is important to realize that in the flourishing of withering of a business local culture plays a decisive role. Related to this is the issue of workplace culture where, as in today’s global workplace, workers come from different cultures and backgrounds to work together. Hence it is...
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