...Compare and Contrast of Two Business Professionals Compare and Contrast of two business professional Dictionary.com defines business professionals as following an occupation as a means of livelihood or for gain. The two professional to look at are, Michael Dell and Andy Grove. Comparing people’s contribution to the information technology filed, along with identifying resistance each encountered, will help understand how they promoted their research, ideas, or programs. Noting any similarities between these two professionals will help point out their differences they may have. It will be helpful to look at their environmental, professional, and personal factors, which may have affected their success. Contributions to the field Michael Dell’s contribution to field was consistently shaping customer value. The business community defines customer value, as customer satisfaction and repeat customers. Product planning is important to the overall success of any business because it allows you to understand your customers’ needs and wants. Potential customers are just as important as current customers in any successful business in order to stay ahead of the competitive edge (Krames, A.J. 2003). Andy Grove’s contribution to the field was far different from Michael Dell’s. Grove’s contribution was to develop the outsider perspective. An outsider perspective is defined by studying your organization as a competitor and looking at your company as an outsider would. This...
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...Located in Los Angeles’s financial district, James’s branch had a staff of 15 people, revenues of $6 million, and $4.3 million in profit margin. The customer base was very diverse. Individual customers ranged from people who worked in the financial district with sophisticated retail banking needs to less informed individuals banking for convenience. Business customers were sophisticated buyers who demanded high service quality and knowledgeable employees who could satisfy their financial needs. “Mom and pop” businesses, the dominant segment in other regions, were also present but to a much lesser extent. Competition was intense. Two competitors—Bank of America and Wells Fargo—had offices less than a block away from James’s branch. James joined Citibank in 1985 as assistant branch manager. He had worked in the banking industry since 1977. Within a year, in 1986, he was promoted to manager of a small branch. He progressed quickly through the ranks until 1992 when he was given the responsibility of managing the Financial District office. His performance in this office had exceeded expectations every single year. He had delivered impressive financial results for four years in a row. In 1996, when the division expanded its performance indicators to include non-financial measures, it became apparent that his branch’s customer satisfaction ratings did not follow the same pattern as its financial performance. Doctoral Candidate Antonio Dávila and Professor Robert Simons prepared this case...
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...Harvard Business School 9-198-048 Rev. October 14, 1999 Citibank: Performance Evaluation Frits Seegers, President of Citibank California, was meeting with his management team to review the performance evaluation and bonus decisions for the California branch managers. James McGaran's performance evaluation was next. Frits felt uneasy about this one. McGaran was manager of the most important branch in the Los Angeles area, and his financials were impressive. A year ago he would have received "above par" rating with full bonus. But last year, the California Division of Citibank had introduced a new performance scorecard to highlight the importance of a diverse set of measures in achieving the strategic goals of the division. Among the new measures introduced was a customer satisfaction indicator. Unfortunately, James McGaran had scored "below par" on customer satisfaction. Frits looked at Lisa Johnson, the area manager supervising James McGaran. Frits had read Lisa's comments (Exhibit 1). The comments were very positive, but Lisa had not wanted to give a final recommendation until she had discussed it with Frits. She knew that James' case would be watched closely by many managers within the division. The Financial District Branch James McGaran was manager of the most important of the 31 branches in the Los Angeles area. Located in Los Angeles’s financial district, James’s branch had a staff of 15 people, revenues of $6 million, and $4.3 million in profit margin. The customer...
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...department and see it as a cost that adds no value. • HR department treated as an operational unit and is subject to questions about its contribution to organizational performance. • HR managers must “add value” show contribution and value of HR activities in the numbers and language of business, to decrease HR’s vulnerability to destructive proposals. “Make a difference” or be abolished! Slow Growth in HR Measurement • Some HR managers resist measuring their work because outcomes such as employee attitudes or managerial productivity are impossible to calibrate meaningfully. If you can’t measure, then you can’t manage or improve! • Measurement is fueled by: 1. Business improvement efforts 2. Positioning HR as a strategic partner 3. The need for objective indicators of success Sarbanes-Oxley – A Case for HR Measurement • US legislation that affects Canadian companies operating in the US • Provides another reason to measure HR performance. • Under the legislation, disclosure requirements include: requirements include: • Executive compensation • Pension plans • Whistleblower protection - These requirements bring about pressure for measuring HR Reasons for Measuring HRM Effectiveness 1. Labour costs are most often a firm’s largest controllable cost. 2. Managers recognize that employees make the difference between success and failure and therefore good performance...
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...The success of Starbucks Starbucks was born in 1971 as a small coffee shop. With the management of Howard Schultz, Starbucks turned into a business legend and built a kingdom of coffee. It was dominate specialty-coffee brand in North America. By mid-2002, the company was serving 20 million unique consumers in more than 5000 stores all over the world. It developed at a very high speed. The gross profit of the company increased from 730.2 million to 1938.9 million in about 5 years (1998-2002). Its retail business expansion was also amazing. In 1998 there were 1755 Starbucks’ stores in North America while the numbers increased to 4574 in 2002. It was also true of its international expansion. There were only 131 stores in 1998. But in 2002 there were 1312 stores oversea. Every why has its wherefore so was Starbucks' success. The three biggest reasons of the company success were its brand strategy, production innovation and retail expansion. Starbucks' brand strategy contains three components and showed mixed benefits for customers. The first component was the highest-quality coffee. The company controlled the supply chain as possibly as it could in order to ensure the product quality. This was so called tangible benefit. The second component was the service which referred to "customer intimacy". It contained personal treatment and made the consumers feel like to be treated specially. It was a way to close the distance between the frontline employees and customers. It offered...
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...Organizational Behavior MGMT 317 Dr. Dwayne Thomas June 6, 2015 Trader Joe's Keep Things Fresh 1. How does Trader Joe’s design jobs for increased job satisfaction and higher performance? Trader Joe’s success with their employee’s is based on hiring individuals who are “ambitious and adventurous, enjoy smiling and have a strong sense of values” (Uhl-Bien, Schermerhorn Jr., & Osborn, 2013, p. 98). Trader Joe’s employees’ exhibit job satisfaction and higher performance because they are compensated very well in their earnings, benefits and professional growth opportunities. Employees’ that are based in California stores “can earn almost 20 percent more than counterparts at supermarket giants Albertsons or Safeway” (Uhl-Bien et al., 2013, p. 98). 2. In what ways does Trader Joe’s demonstrate the importance of each responsibility in the management process: planning, organizing, leading, and controlling? Management promotional opportunities are given solely to employees from within the company. To ensure managers are running the business from both the company expectations and the customer expectations, training programs are made available to crew members that guide in the planning and leading of future managers. It is most important that managers keep the customer focus in leading crew members for customer satisfaction. 3. Describe the methods that show Trader Joe’s knows the importance of human capital. Human capital can be increased through education and training. Trader...
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...Employee Satisfaction on Success of Organization: Relation between Customer Experience and Employee Satisfaction Afshan Naseem1, Sadia Ejaz Sheikh2 and Prof. Khusro P. Malik GPHR3 1,3 Department of Engineering Management, Centre for Advanced Studies in Engineering, Islamabad, Pakistan 2 COMSATS Institute of Information Technology, Attock, Pakistan Abstract– Employee satisfaction is considered weighty when it comes to define organizational success. Employee’s satisfaction is central concern particularly in the service industry. Need to enhance employee satisfaction is critical because it is a key to business success of any organization. In the present milieu, employee satisfaction has come under limelight due to stiff competition where organizations are trying to carve competitive advantage through the human factor. The purpose of this study is to observe the relationship between employee satisfaction and customer satisfaction and to examine the impact of both on organizational success. This study scrutinizes the effects of different factors of organization which affects the employee satisfaction. This is a cohort study in which qualitative research methodology was used. The data was collected through selfadministrated questionnaire which contains multiple choice questions and open-ended questions. Results of the principal component analysis (PCA) based on correlation matrix revealed a great deal of employees (hotel workers) satisfaction among surveyed cohorts where customers also...
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...respond accordingly, it suffered decreases in net income during the worldwide recession. Mercadona’s ability to provide the lowest prices to consumers while simultaneously investing in store employees stems around the principals of its Total Quality Model. The model and the practices associated with it are geared toward satisfying each one of five components of the business and therefore insuring success. At the forefront of the model is the customer, to which the company referred as “the Boss.” The customer service mindset is pervasive through every level of employee and therefore assured that all activities resulted in customer satisfaction. One key component of that satisfaction is price, and the company worked to maintain consistently low prices. Mercadona was constantly looking at ways to cut costs like every other retailer, but the company made a point of passing any savings along to the customer instead of treating those savings as simply a method of improving profit margin. Mercadona also contributed to customer satisfaction by insuring a complete, convenient and timely positive shopping experience or customers with the added benefit of providing methods of contact with management in...
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...In today’s business environment, research reveals that meaningfully and sportively engaging employees drives business success. It is important for successful organizations to implement and promote a variety of policies and programs increasing employee satisfaction via motivation and engagement. To ensure success, it is critical to reinforce these policies throughout every level of management structure. Human capital is a vital corporate asset and satisfied employees are crucial to organizational success. Gardner (2008) suggests that the basis of job satisfaction is tangible and intangible rewards. The foundations for satisfied employees are salary and benefits. However, intangible factors drive greater workplace happiness. Gardner’s (2008) summary article reviewing empirical job satisfaction research reveals seven drivers: appreciation, respect, trust, individual growth, a good boss, compatible co-workers, and a sense of purpose. Companies can increase employee satisfaction through motivation and engagement strategies. Motivation models provide valuable insight into various ways managers can increase employee satisfaction and drive performance. A motivation model proposed by Nohria, Groysberg, and Lee (2008) reveals four underlying motivation drivers. They define the drive to achieve by fair compensation. They describe the bond and comprehend drivers as employees feeling meaningfully connected to their company and capable of career advancement, respectively. They characterize...
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...Topics on: Measuring customer LOYALTY (NOKIA) Presented To- Nehal vanjani Presented By –Joly Costa Introduction The primary purpose of a business or organizations is to generate value and satisfy the need and demands of customers. The market totally depends on customer, they enjoy the whole decision making process along with deciding the fate and presence of organizations. The research aims at highlighting and investigating the concept of customer satisfaction that is associated with the success of organizations. It is often believed that the success of an organization can be analyzed through its customers. Now a day’s customer oriented marketing strategy or service providing methods are used wide so that customer oriented service can be provided. Customer loyalty can be defined as the strength of the relationship between an individual's relative attitude and repeat patronage with a supplier. It is a self-reinforcing system in which the company delivers superior value consistently to find and keep high-quality customers, (and, where applicable, employees). The economic benefits of high customer loyalty are measurable. When you consistently deliver superior value and win customer loyalty, market share, revenues and profitability all go up, and the cost of acquiring new customers goes down. clear and structured new customer induction scheme will boost customer loyalty and retention, increase the frequency of purchase and raise the dollar value of each transaction and increase...
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...these goals, they need to ensure their employees focus their attention on behaviours that drive organizational success. Citibank also implemented a structured performance management and appraisal system in order to provide a mechanism for ongoing feedback and development. The Citibank followed a performance scorecard every year to find out the progress of each of their employee in order to assess his or her performance. The implemented performance scorecard specifies goals and measures manager’s performance in 6 areas: * Financial measures * Strategy implementation * Customer satisfaction * Control measures * People * Standards The primary purpose of the balanced scorecard is to set goals and allow managers to complete well-rounded performance reviews using both quantitative and qualitative measures. While financial measures are important in analyzing performance of the bank, they do not provide any insight into non-quantifiable measures that can be equally important in performance assessment. In addition, the balanced scorecard forces employees to adopt a broader view of the business and concentrate not only on financial measures, but on measures that are truly important to the success of the company. In the service industry, customer satisfaction is a particularly important measure in determining how the company is doing. A high level of customer service is a significant component of Citibank’s strategy in California. Frit Seegers sees it as a leading...
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...Operations Extended Response How does an understanding of the influences on operations contribute to business success? The success of every business depends on adapting itself to the environment within which it functions. A thorough understanding of the operational influences on a business is critical to ensuring the business is flexible, and can adapt to changing market circumstances. Without continually updated knowledge of the operational influences which consists of globalisation, technology, legal regulation, government policies, environmental sustainability, quality expectations and cost-based competition, the success of the business is questionable. The success of a business can be measured through indicators such as strategic goals, market share, profitability, growth, efficiency, quality of output, business competitiveness/image, meeting the changing needs of customers and their contribution to the wellbeing of society. Globalisation An understanding of globalisation gives a business a direction for growth, and enables the business to identify the areas for growth and expansion of their activities. For example Google is an effective innovator that develops and distributes high quality, distinctive ideas that are transformed into products that are sold globally. They have utilised globalisation so as to mass produce innovative products at low cost. This has been essential to Google’s position as a market leader. The knowledge to harness globalisation...
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...Case Study: Cisco Systems Cisco systems has developed a quality approach to satisfy his customers. The approach is published at: http://www.cisco.com/web/about/ac50/ac208/about_cisco_approach_to_quality_customer_success.html# customer needs Approach to Quality Executive Message |Dedication to customer success is a core value that affects everything Cisco does. We recognize that we must earn the right every day to continue to | |serve our customers. It is this understanding that drives our belief that Cisco's quality mission includes building and maintaining strong customer | |relationships and customer listening systems that in turn arm us with information to drive behaviors and change that increases customer value in our | |products, support and systems. Cisco's customer focus culture permeates every layer of the company, from CEO John Chambers to each individual | |contributor. | | | |Customer satisfaction is so important at Cisco that it is a direct and explicit component of employee compensation. We set yearly business objectives | |around customer satisfaction goals and initiatives. ...
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...Keys to Business Success There are ten critical areas where your ability to think largely determines the success or failure of your business. The greater clarity you have in each of these areas, the better decisions you will make and better results you will achieve. Key Purpose What is the purpose of a business? Many people think that the purpose of a business is to earn a profit, but they are wrong. The true purpose of a business is to create and keep a customer. Fully 50 percent of your time, efforts, and expenses should be focused on creating and keeping customers in some way. Key Measure The key measure of business success is customer satisfaction. Your ability to satisfy your customers to such a degree that they buy from you rather than from someone else, that they buy again, and that they bring their friends is the key determinant of growth and profitability. Key Requirement The key requirement for wealth building and business success is for you to add value in some way. All wealth comes from adding value. All business growth and profitability come from adding value. Every day, you must be looking for ways to add more and more value to the customer experience. Key Focus The most important person in the business is the customer. You must focus on the customer at all times. Customers are fickle, disloyal, changeable, impatient, and demanding--just like you. Nonetheless, the customer must be the central focus of everything you do in business. Key...
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...EXPOLATION OF MOTIVATION THEORY AND ASSESSMENT TO INFLUENCE OF MPTIVATION TO BUSINESS PERFORMANCE QUESTION: • HOW MOTIVATION THEORY HAS DEVELOPED OVER TIME • HOW MOTIVATION CAN INFLUENCE BUSINESS PERFORMANCE DAWUTIHAN. GULIPIYA CEG NUMBER: 08016771 6. 12. 2012 The Analysis of Motivation Theory Content Introduction………………...................................................................p3 The development of motivation theory……………………………………p3 The business performance…………………………………………….. ….P4 The influence of motivation on business performance…………….…….P5 Conclusion………………………………………………….………………p10 Introduction This article explained the development of motivation theory and its influence to the business performance. The relationship between motivation and business performance was justified via using Maslow’s Hierarchy of Needs Theory. Motivation plays vital role in business performance. It cannot only make the operating system of business dynamic and powerful, but also make employees energetic, work hard with great passion to their work and with positive perspective. In business, the forms of motivation vary. High salary, stable job, welfare, health care insurance, profit sharing are money- related, external motivation. Strong interest of employees to their work is the internal motivation. If...
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