Describe the environment in which business operates
Describe the environment in which business operates
In a 7 to 10 page PowerPoint presentation, describe the characteristics of each of the four stages of growth a business organization might experience. Provide examples to support your description.
Instructions:
Prepare a 7 to 10 page PowerPoint presentation.
Follow APA format for structure.
Support your presentation with 2 to 3 credible references beyond the course materials. Please note Wikipedia, Investopedia and similar websites are not credible academic references. The best place to
locate credible references is the Online Library.
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The Touch Screen Kiosk Is a game changer on the Way Companies Do Business
The touch screen kiosk, in various ways, is the latest demonstration of digital technology. It encompasses advanced digital hardware features and complex software applications to offer a two-way flow of information between the business and its customers, or an organization and its clients. It’s not surprising, then, that a touch screen kiosk system often requires a substantial business investment. But whereas standard digital signs are a more expensive replacement for traditional paper signage, the touch screen kiosk is more often a substitute for staff-delivered customer service.
Touchscreen Kiosk Efficiency and Relevance
Touch screen kiosks have quite a number of capabilities and applications. They can serve as self-checkout lines and for payment transactions. They can be used for a number of way finding applications, such as hospitality services, retail stores, and shopping malls, sprawling campuses, and many more others. They can also work as employee management and training tools with user responses to guarantee active participation. They’re fantastic educational tools, especially in museums and other public venues. They can also include some hardware accessories such as change dispensers and printers that additionally broaden their applications. Business travelers are able to print out their boarding pass at their hotel without having to hassle. Movie theaters and mass transit systems frequently use them for ticketing services. Meanwhile, the original, wide-scale application for touch screen kiosks, the automated teller machine, is still going strong.
The Bottom Line
No matter the specific application, the larger goal is often better operational efficiency. Again, these systems are most often a substitute for labor costs associated with customer and guest services. These kiosks have formerly been used as a selling point for businesses that serve techie customers. The general consumers public has become more familiar with and accepting of this new technology. Now, many businesses are finding they must implement these systems, and quickly, or risk losing customers to companies with this economical infrastructure and its competitive edge.
A Touch Screen Kiosk and Long-Term Branding
You may be having thoughts on how everybody is trying to cut operational costs, but your business is well known for customer-centered services. The two should not be mutually exclusive. In recent surveys conducted, many customers prefer self-service kiosks to staff-delivered customer service. A touch screen kiosk has a virtually immense database with customer information. Self-service leads to faster transactions. And, for a number of businesses, there’s not a single reason not to provide customers the choice of touch screen kiosks and more traditional service. The sociable customer can chat up a sales associate, while the more shy customer can stay clear of the anxiety of such social interactions. Personalized customer service does not always have to be personal.
Conclusion
The primary benefit of using a touch screen kiosk is it is very user-friendly. Since all computer commands can be executed at the touch of a finger, and even those without prior computer apprehension or experience find it easy to handle. Since the customer realizes that he can tackle the kiosk all by himself, this encourages him to serve himself, i.e. it encourages self-service- something that all self-service kiosks need to promote businesses. Also, a touch screen kiosk also offers service 24/7 as it eliminates the need for any human inside the booth thereby ensuring the generation of sales revenue round the clock. Since such kiosks are meant for public use, they are almost always located in crowded areas such as shopping malls and theaters that ensure a greater outreach to customers. This also reduces costs on advertisement and building public relations that translate to improved profit margins. Brand establishment this way becomes easy for the entrepreneur giving him that cutting edge over his competitors.
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Using Touch Screens to Enhance Customer Experience
Using Touch Screens to Enhance Customer Experience
Touch screen kiosks can be spotted in different locations as businesses continue to look for new ways to enhance communication with their customers. Companies that want to provide excellent customer service will always be on the lookout for ways to ensure customers or visitors have a delightful experience, whenever they interact with the company. As the service industry expands, using technology becomes an integral part of market outreach.
Touch-screen kiosks are useful in marketing, sales, advertising, and public relations. A company that uses technology can effectively manage to reduce its staff in every area. Many consumers today prefer interactive kiosks to deal with staff at physical shops. The fact that the touch screen kiosks have videos and can provide all the information needed means that people do not have to engage with customer service agents or other personnel.
Many busy companies know the critical role that the mobile touch screen kiosks play. Visitors to bustling commercial centers do not want to wait in long queues to speak to customer care agents and receptionists. This is considered a waste of time, and it is essential to have an alternative where customers can find out all they need to know.
Supermarkets and other retail stores have introduced touch screens that act as self-service kiosks. Also called ‘Quick Checkouts,’ the screens are fast and efficient, allowing the customers to conduct their business in the shortest time possible. The refined customer service has seen many customers choose to shop in the stores that are equipped with the facility. The screens are effective at advertising the different products and services offered.
Waiting rooms and lobbies are places where people spend a significant amount of time. A perfect way for a company to ensure that the visitors and customers do not get bored is by providing touch screens that will provide information and entertainment. The visitors can access the internet as they wait, which makes the waiting period delightful. Customers who find this service where they go often feel that the time spent waiting has been well-spent.
The competition in the market has meant companies have to go the extra mile to upgrade their operations. Most successful businesses have one characteristic in common, and that is an excellent customer care service policy. A business that treats its customers well will always grow, as this is the most important way to advertise and expand operations. People tend to talk about their wonderful experiences to friends and contacts, and a good business will expand faster due to word of mouth. It is essential to give the customers something useful to talk about.
Those businesses looking to take the concept further by being socially responsible can use eco-friendly kiosks. The green kiosks are made using recycled materials and have a low carbon footprint. The energy saving technology used, allows the machine to automatically switch off at night when it is not in use. The touch screens come in many different sizes and designs, and most companies have them custom made to suit their needs.
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You have excellent theoretical points in this section, which I would definitely keep for the final draft. Note, though, that it is important to identify specific companies that have addressed compliance issues, state what those issues were, and explain how they were resolved.
What pertinent aspects of U.S. law should the company be aware of in its goal to do business internationally?
As stated in the laws governing the United States of America, there are Exclusive Economic Zones in which only certain businesses such as those involving natural resources, fisheries and other economic activities which are overseen by the National Environmental Policy Act (Murphy, 2003). Besides, the United States of America’s federal law agents also came up with specific rules which were signed and stamped by the Cuban President, Clinton to prevent American companies from operating within Cuba. The reason for such decisions is because the government of the United States of America was seeking to uphold a top-notch reputation for its investments in Cuba. Thus, associating the U.S citizens with Cubans through business activities would sabotage these plans. In attempts that the citizens of the United States of America break the law, the victims will be subjected to expensive fines which they will pay to the government and even worse taken to jails for many years.
In addition to that, the companies in the United States of America are also urged to keep off business deals with countries practising terrorism such as Iran, McAdams et al., (2015). The law was passed after some U. S citizens were killed in an explosion when they were using road transport in Iran for purposes of doing business. The bomb blast saga was defended and covered by the Iranian government (Murphy, 2003). Thus, firms founded in the United States of America are warned to stay away from countries like Iran if they want their international businesses to grow since such nations thrive in retarding economic success for foreigners in their markets.
Moreover, there are also laws in the federal system of the United States of America which prevents companies from associating their businesses with foreign countries wallowing in constant political conflicts such as Zimbabwe (Murphy, 2003). When there is political instability, the success of local business waver, and it gets worse for foreign entrepreneurs. Therefore, the U.S federal laws tend to warn companies interested in international markets against such countries so they can resort to choosing other economic markets where there is perpetual peace and cohesion for their startups to thrive.
Assess the legal implications of moving business abroad specific to your chosen country. What are the advantages and disadvantages of such a move?
When a trader decides to relocate their business to Mexico, they should have in mind the legal implications such as taxation, high labour costs when hiring employees, culture shock, consumer tastes and preferences to mention a few.
Advantages
First of all, when entrepreneurs relocate to Mexico, they incur cheap labour costs (Maranto-Vargas & Rangel, 2007). It has attracted many investors from the United States of America hence making their businesses to grow and expand internationally. Also, Mexican workforce has always proven top-notch productivity which makes it easier to operate different manufacturing and processing companies in the economy. As compared to other countries such as China where the minimum wage per worker is high, it is advisable for traders to strike business deals with the Mexican government. Mexico has also benefited from this move in that they have secured some of the most lucrative investments since they declared the economy an open-free market. Therefore, it has developed various sectors such as automobile industries, mechanical and food processing and manufacturing companies which are sprouting all over the economic markets.
Another advantage is that there are few logistics involved when entering the trading markets thus reducing the excess paperwork that traders who opt for other foreign countries such as China go through. Mexico also exhibits a diverse market owing to the ease of trading with other countries through the Mexican borders (Maranto-Vargas & Rangel, 2007). The numerous cultures present a ready market for different kinds of goods hence attracting many investors. With this, the entrepreneurs can easily raise huge profits from their business activities when they choose to operate in Mexico.
Disadvantages
One of the drawbacks is that the Mexican government has continuously faced the problem of inadequate financial resources hence preventing people from expanding their businesses (Maranto-Vargas & Rangel, 2007). What usually happens is that the investors are unable to access financial institutions where they can borrow money for their startups. Also, Mexicans face a lot of underdevelopment in some of their sectors thus limiting the operation of certain business activities. There have also been numerous cases of drug trafficking which has always been the cause of violence between the citizens and the law thus resulting in chaos within the country. Therefore, having such a business environment is likely to scare away investors and customers who would have engaged in business activities with the foreigners.
Most of all, the traders will face a threat and constant competition from markets in the United States of America considering the proximity of the two countries. This is likely to leave Mexican entrepreneurs with no demand for their products which is likely to result in losses. The worst case scenario is the high taxation rates which will be a setback to foreign investors. Language barrier is also a challenge to many, and this has made it hard for clients and seller to connect. With this, it becomes difficult to foster and build relationships the business owners and their customers. As a result, a lot of time is wasted trying to retain these few relationships.
What are the ethical implications involved in this business decision?
The ethical implications include the violation of human rights. The citizens have always experienced cases of abuse of their rights especially by the government of the United States of America. Therefore, having U.S citizens as foreign investors in Mexico makes it look like they are taking advantage of the cheap labour in the country to benefit their companies. Mexico is underdeveloped, and hence workers will take any job to sustain their livelihoods. In light of this, the foreign investors may take this as an advantage thus resulting in the exploitation of these individuals. But the investors operating international businesses can come up with multinational regulations which govern the labourers as well as a way of protecting their rights.
Another ethical implication is the illegal entry into different niches in the economic markets. When this becomes rampant, the foreigners will automatically replace the local traders thus resulting in losses for these small-scale entrepreneurs.
Corruption between governments is another ethical issue facing many international businesses. This happens when an investor who has the interests of his/her country at heart ventures into the market but fails to meet the ethics required for the startup to thrive internationally. The government officials will then pay bribes to the country where the business will operate globally. This provides foreign investors with a competitive advantage over the local business persons.
Furthermore, cultural diversities can also result in mismatches in conducting successful business activities. This can happen when the global traders deal in commodities which are considered a taboo or unclean by the foreign country. They will, therefore, make losses and waste other resources used in setting up the business.
Trust and integrity can also be an ethical issue for a business which is operating globally. This happens when the manager of the venture employs people who steal from the company or who cannot be accountable for the mistakes that arise during business operations. It will take time for the foreigners to build trust even between the company and the clients. Such practises are likely to slow down the smooth running of the economic activities in the industry.
Explain how other domestic companies have managed to comply with the U.S. laws related to this business decision in the past.
Every country out there has a set of different principles which govern their political, economic and legal entities. For these reasons, there will always be conflict, but domestic companies from foreign countries have still managed to follow the law that governs the United States of America since time immemorial for the sake of peaceful coexistence. The citizens of the United States of America have also been modest when carrying out their business activities abroad by upholding the values that govern their country. With this, they manage to stay within the standards set by the United States of America’s federal law system in the past. Also, they have been treating employees in foreign countries with respect and dignity to avoid ruining the reputation of their home country. The laws set by the United States of America condemn any illegal practices by their citizens in foreign countries, and these acts are punishable by law. So, the domestic companies have opted for respectful dealings to avoid rubbing shoulders with the United States of America’s legal system.
How did these companies address potential compliance issues?
Every business which is operating international but still has affiliations to the United States of America are under their regulation and therefore must commit to a particular form of legal agreements. These are the compliance programs which these international companies use to solve any legal issues that they may encounter when operating their businesses. The compliance programs ought to be updated regularly to keep them within the legal standards within which companies in the United States of America should work. There are also laws which govern internal business factors which can be implemented in case of compliance issues. They include employment laws governing employees, ethics and values which employers should foster for transparency and quality running of the business. So, the management can educate the employees on the benefits of having knowledge about these aspects of operating companies under the law as a way of empowering them to avoid the occurrence of compliance issues. Moreover, they can as well conduct regular assessments of the company’s activities while working towards eliminating the risky behaviour which might prevent the industries from being ranked as operating lawfully.
References
Maranto-Vargas, D., & Rangel, R. G. T. (2007). Development of internal resources and capabilities as sources of differentiation of SME under increased global competition: A field study in Mexico. Technological Forecasting and Social Change, 74(1), 90-99.
McAdams, T., Neslund, N., Zucker, K. D., & Neslund, K. (2015). Law, business, and society. McGraw-Hill Education.
Murphy, S. D. (2003). United States Practice in International Law: Volume 1, 1999–2001. Cambridge University Press.
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Reading Reflection
Student’s Name: Michael J Articles: Jonson and Jonson (p. 9-13, 2015)
Due date: Williams (p. 2-8, 2016)
Week: 2
Key Points:
1. Earliest innovations have allowed humans to share knowledge and relate them to some of
the great technological innovations now. Those basic innovations have yet to have any
major breakthroughs, the ones that we rely on the most especially. When it comes to
leaders in innovations the United States is always thought of, which is true, yet this
country is lacking some upgrades in important and failing social systems. Most of the
great new innovations we see today are not at all government and team run, but invented
by determined entrepreneurs (Jonson and Jonson, p.9, 2015).
2. Competency plays a really important role in the survival and profitability of a business.
There is core competence which is a main focus of the company in order to “survive and thrive,” and just the main concept of the business. Then there is distinctive competence which is something that makes your business or company unique and better than competitors. And individual competencies are the combination of learnable skills and natural ability that allows someone to accomplish a specific goal or dream. Lastly, collective competencies are the mixing of people with different individual competencies
within a team in order to be high functioning and successful. Then there are also the competencies that need to be proven to the public, such as the ability to practice as a lawyer or a surgeon (Jonson and Jonson, p.11, 2015).
3. Resilience is a part of finding your life purpose, striving for improvement and realistic world views. Confronting the brutal facts, improvising and looking for the reason something happened will always push a business owner forward in their progress (Jonson and Jonson, 2015).
4. Businesses should define themselves as their “core competence,” or main abilities, rather than the goods or services they provide. If they can identify their core competence, then they can know what they need to do in order to rise above the competition. Three tests in order to identify what a brands core competence is are knowing that a core competence
applies to a wide market, deliver a good perceived end product and should be difficult for competitors to imitate (Jonson and Jonson, 2015).
5. Competition is very important for business success. Over the last decade, the U.S. came in nearly last for amount of progress made out of 44 countries. Innovation and entrepreneurship needs to increase in order to increase competition. It is worried that the
U.S. is on a decline for innovative potential. Creativity and education needs to be increased especially in order to bring young people back into the entrepreneurship and innovation scene, which will in turn, create competition (Jonson and Jonson, p.12, 2015).
6. Japan’s innovation production and bold pioneering entrepreneurial companies have declined greatly. There are very little initiatives to teach more about entrepreneurships and startups to Japanese citizens, yet this is changing. They think it could be because it
used to be very expensive to register your new company, yet that has recently changed and been made much more affordable. Unemployment in Japan is also really low, and most people get a job as soon as they get out of college. And though that is great in a
way, many great inventions are created when someone has plenty of free time and discovers a great business idea amidst doing nothing or working with a hobby maybe (Williams, p. 7, 2016).
7. There are often lots of options in the U.S. for startups in entrepreneurship with help from
their university. This provides young entrepreneurs with funding and investment opportunities. In Japan, there are not nearly as many resources to get funding though they are trying to increase the amount of university-funded entrepreneurship help (Williams, p.8, 2016).
8. Core competencies are collective areas of expertise that the entire team must practice in order for the business to run according to their purpose and what they stand for. For example, I work at a chipotle and a Core Competence that we practice every day is excellent customer service. Distinctive competencies are things or areas that a business does better or is unique from any other business. One of Chipotle’s Distinctive Competencies is that food served fast doesn’t have to be a fast food experience. Meaning
that we try to give customers an experience similar to a sit-down restaurant, food that is of high quality, non-GMO and organic, while also preparing their food quickly. This sets them apart from other fast food restaurants. (Matthews et al, 2015, p. 11)
Relating the readings with my personal experience:
I often think about how lucky we are as students at such a supportive school such as UVM, and personally for me, I have supportive and inspiring parents who believe in me. I know for a fact, that if I really needed funding for some new venture and idea, I could definitely get the help and loans that I needed from family, our generous and supportive school, and if they could not help me, I am sure they could refer me to someone who eventually would. I think that the amount of opportunities we have been given in such a nice school like this is unbelievable and
forgotten, most definitely taken for granted. Regarding the decline of innovations and startups in Japan, and the lack of education about entrepreneurship, I do believe though that it would help immensely if they had a required high school class in entrepreneurship, innovation and resilience (such as this one). I have found this class to even already to be very inspiring and motivating. It is a period of my day where I get to really think about what I want to do with my life and what makes me really happy, which sometimes you forget to think about when you have such a busy schedule. If you are given the opportunity to think like that and open up your mind to the possibility of starting your own
company or brand, then you will continue to do so. And like we learned in this reading too, it completely benefits the economy to create and build a business, as it supplies jobs and creates a new market possibly, but also encourages competition, which will then in turn motivate others to make more innovations. It is a whole circle that should definitely be far more encouraged in school systems throughout the U.S. as I believe it would create a fair amount of more young
entrepreneurs. I liked learning the definition of “core competence” as it is a term I have never heard before. It makes me think of my mom’s business and what its core competence is. She has a law firm that does elder law and estate planning, so she plans out people’s will and assets and organizes their legal documents, along with helping with placement for peoples parents in nursing homes and all the documentation that goes along with that. She offers a service for a nurse to come to their house and she has her nurse employee be at the office, make house visits and talk on the phone to her elderly clients in need of assistance with someone compassionate,
understanding and good at dealing with other problems. My mom offers her as someone that
people can call when their parent or loved one dies as she is pretty much a professional at calming people down while being understanding and telling them what they need to do next legally without sounding cold. It is a very original idea, and so I believe that is what her business’s core competence is.
Questions for discussion:
1. Core competency is discussed as being very important, but isn’t it redundant. Why might
someone start up a business if they have no competency?
2. What kind of progress are the other countries making if the US is second to last in
progress over the last decade?
3. One speculated reason for Japan not producing as many fast paced and bold innovations recently because they are too much of perfectionists. How could you change this concept in Japanese entrepreneurial culture?
Outcomes of my discussion with my learning partner:
• In discussion we decided that a common theme which was prevalent in all articles was that resilience is one of the most crucial aspects of creating a successful and profitable business.
• If you take a look at most of the successful individuals mentioned, all of them had a well
developed ability to improvise when a situation didn’t go as planned. To go deeper, Steve
Jobs’ project NeXT wasn’t actually intended to succeed, however it was developed to
influence Apple to rehire him. He never cared about the OS (Operating System), instead
he aimed to create a well designed product which would spark the interest of companies,
not consumers.
• Surrounding yourself with a good supportive team of individuals in theory can be a good way to increase your resilience, but in reality, some people can work better without “noise” surrounding them (i.e. those with strong vision or passion, Steve Jobs.)
• Informed risk taking v.s. Blatant risk taking – it is dangerous to assume that risk taking in
general is a good business practice, however, sometimes it is important to be able to
throw all your chips in, and make a big move, to move ahead, where others wouldn’t be
as brave to do so. It is important to calculate the risk v.s. Reward ration and then make a decision next.
Synthesis:
The overall learnings of these readings and discussion was mainly about competition and
how that makes the market thrive, the encouragement needed in order to make more
entrepreneurs and how that also makes the economy thrive, and the importance of knowing and
having different “competences” in your business in order for it to do well. You want your business to not just survive, but also to thrive, so you need to identify what sets you apart from other alike businesses. Throughout these readings, I learned and read about some very thought provoking and eye-opening topics, and it especially got me thinking how the U.S. should offer high school entrepreneurship and innovation classes in order to stimulate and excite young potential entrepreneurs.
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Why do some organizations take on high-risk projects or customers? (think banks or collection
agencies) What benefit is there in doing this if the chances of failure are high?
Question 2 (5 points)
Discuss the differences between an industrial economy and a network economy. What aspects are
the same, and what are very different. Please give at least 2 examples of each.
Question 3 (5 Question 6 (5 points)
Given a manufacturing company that is NOT vertically integrated. What advantage and disadvantage
could there be for adding 1 additional level into vertical integration? (such as part of the supply
chain or part of distribution) Please give 1 advantage and 1 disadvantage. Again here, consider how
Information Systems could help.
Question 7 (5 points)
When considering a SaaS application: List 2 advantages and 1 disadvantage of SaaS.
Question 8 (5 points)
Consider the airline industry where the rivals are fierce for business. Thinking of Porter’s “Rivalry
among Existing Competitors” how have the airline companies used Information systems to combat
competition and increase revenue? Give 3 examples with justification.
Question 9 (5 points)
Consider a Retail Store: How can proper Information Systems help management make good
decisions? (or at least “better” decisions) List 2 pieces of data from an IS and how decisions can be
better because of it.
Question 10 (5 points)
Think of a SWOT analysis for your university. From a leadership level, what would go in the
Opportunities and Threats areas? Give 2 items for each.
Question 11 (5 points)
ROE: what does this represent (in plain terms)? In what range would this number typically be? What
type of person/position would monitor this number (what is their role)?
Question 12 (5 points)
When using Information Systems in business it is often said “Decisions can be made faster”. Is this
true? What are some advantages of having a decision sooner? (think both internally and among
rivals
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You are encouraged to bring your own business ideas to the module but an idea generation exercise will take place.
The idea is entirely your choice but it must be fully realistic and capable of being developed into a viable business that will have a life of at least three years, after which it may continue to be developed, be consolidated or sold.
The only restriction is that it must be a genuinely independent start-up venture; you are not permitted to buy a franchise or acquire or inherit an existing business. Your business does not have to be located in Gloucestershire but should be UK based (in special cases, a non-UK business may be permitted if it can be researched adequately and tax etc. systems are similar to those in the UK).
The business plan must be fully substantiated by research and analysis and include financial projections for a maximum of one year, i.e. sales forecasts, profit and loss forecasts and cash flow forecasts in a 12-month plan. You may make reasonable assumptions about the availability of internal funding but the financial plan must include a requirement for external bank funding (loan, overdraft or a combination of both) or an investor. In addition, to the business plan, you need to write on how you will future proof your business. Guidance will be provided on this. The total word limit is 3000 words for coursework 001.
Based on the data, evaluate the overall current financial condition of the company.
Support your analysis by referring to the company data
Create a three year end trend analysis
Assess how your Operational Budget analysis affects your three year strategic plan.
Recommend an organizational structure in terms of the organizational design as defined in
Abraham (2012) section 2.6.
Assess the impact of the strategic plan on the organizational culture.
Strategic Goals: Create measurable core strategic goals for each of the three to four areas
addressed from the SWOT analysis, addressing any contingencies associated with the strategies
you are recommending and prioritizing them according to ease of achievement and time to
completion.
Recommend marketing positions and opportunities for growth in your strategic plan
Add specific language to the strategic plan that addresses the company’s Corporate Social
Responsibility
Explain your plan to measure the success of your strategic
Must include a title page with the following:
Title of paper
Student’s name
Course name and number
Instructor’s name
Date submitted
Must begin with an introductory paragraph that has a succinct thesis statement.
Must address the topic of the paper with critical thought.
Must end with a conclusion that reaffirms your thesis.
Must use at least five scholarly and/or credible resources (including a minimum of three from the
Ashford University Library) other than the textbook. Use the Scholarly, Peer Reviewed, and Other
Credible Sources (https://content.bridgepointeducation.com/curriculum/file/b2d6fb25629e42e1) document for guidance.
