COURSEWORK QUESTION:
The following is a hypothetical situation. 3250
Primani is one of Italy’s leading department stores. Roberto, an Italian national, acquired the franchise rights to open the first Primani department store
in the UK. Trading began in April 2013. He initially thought it would be possible to manage his staff via Skype, but believes in order to make the venture a
success he will need to relocate to Bristol to oversee the project.
He seeks your advice on a number of issues relating to EU Law.
Primani’s latest shipment of decorative lamps have been held up in Dover by the British Customs Authorities on the basis that the lamp stands may contain concealed packets of cocaine. Roberto, concerned by the delay, has contacted UK Customs for more information. They explain that they have had to take action because of credible information contained in a TV documentary on Mediterranean drug cartels. All imported lamps into the UK are to be inspected.
Whilst there is no charge for the inspection, all Lorries containing the shipments are to be kept in a secured car park near the Port at a rate of £40 per
day whilst the inspections are conducted. He is told this is to ensure the fairness of the process and to eliminate the risk of third party interference with
the goods.
Since the TV documentary aired, the Media and Press has been critical of the lack of action on drugs smuggling into the UK. The UK Government, keen to tell the voting public that they are taking firm action for the interests of public policy, have imposed a further requirement on retailers of imported lamps. The shop shelves which display the imported lamps must display number of large notices, almost 12 cm x 9 cm in size, which contains the message ‘Imports Inspected and Cleared by UK Customs.’ Roberto and the manager of the store’s lighting department considers this will potentially dissuade consumers from purchasing these products.
Questions
a) What are Roberto’s rights to set up a branch of Primania in the UK and what would you advise in relation to his intention to relocate?
b) What advice would you provide in relation to the lamp inspections
c) What advice would you provide in relation to the car parking requirement?
d) What advice would you provide in relation to the requirement to display a notice on shop shelves?
e) Finally, if you consider that EU Law has been breached by any of the parties mentioned, what options are available to Primani?
QUESTIONS TO CONSIDER IN COMPILING THE RESEARCH TRAIL 750 WORDS
Methods
This is sometimes referred to as methodology.
• How did you go about conducting your research?
• How did you select your list of materials that were relevant to the topic?
• Did you search the library databases and catalog?
• Did you do this yourself or did you need to seek help from the law librarians?
Sources
• What sources or type of materials did you select for your research?
• Did you research primary sources of legislation and cases, and secondary sources of legal encyclopedia, books and journal articles?
Analysis
The analysis and evaluation of the effectiveness of the techniques used and of the sources will be considered together. This is your chance to provide your own reflection and requires you to assess your own methodology and the sources you have chosen.
For example:
• Was your methodology effective and efficient?
• Have you learned anything about researching that would lead you to select materials in a different way in the future?
• Have you learned anything about the type of searches you should use to find particular types of materials?
• If you asked the law librarians for advice, what did you learn?
• Could you have used the materials you selected in a different or better way to support the points that you have advanced?
• Which types of materials did you find most useful to the topic area and why?
Finally you must consider what you have learned from your research. You should reflect on the way the resources that you have researched have developed your thinking and approach to answering the set question.
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Choose a product you are familiar with and do the following:
Describe the product briefly.
Identify and justify the target audience. (There may be several but choose one for this assessment.)
Research trends that can /do affect this product and discuss how
a brand manager can utilise these trends to manage the brand and
ensure the brand is relevant to the target audience over time.
Using Figure 10.2, (de Chernatony et al. 201, p 382 ? also
discussed in chapter 2) identify the various components /levels
(generic, expected and augmented) as they apply to the product
you have chosen.
Identify and describe two new added values that a brand
manager of this product could apply to push the brand to the
?potential? section.
The assignment should be no more than 750 ? 1,000 words excluding
references.
Please ensure that any research is referenced appropriately. It does
not matter which style you use as long as you are consistent in your
use of it.
It is very important that students use academic sources and/or
industry sources that are balanced, reliable and credible. These
sources must be correctly referenced within assignment and in the
bibliography. In particular, students must ensure that quotations
taken directly from other sources are correctly referenced and appear
in quotation marks.
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Starting a Business Online;Why I would not sell my domain name
Order Instructions:
Assignment 2: Starting a Business Online, Part 2
Due Week 8 and worth 200 points
Imagine that you own a small, local clothing store along the Jersey Shore boardwalk and decide that you want to engage in e-Commerce.
Write a 4-5 page paper on the following:
1. Imagine that someone has offered you $1,000 to buy your domain name shortly after your started your business online. Explain why or why you would not sell and cite the ethical dilemmas involved.
2. The e-Commerce software you will be using must provide a catalog display, shopping cart capabilities, and transaction processing. The convenience and usability for the customer are benefits of these functions. State how each of these functions could be beneficial to your business.
3. Your business will have created a presence in the physical world by having a store along the boardwalk. Assess how you will create an effective presence on the Web, meeting the objectives listed in Chapter 3. Be sure to include how you would improve Web presence by increasing Website usability.
4. Develop a Web marketing strategy for your company including the following: identify the market segments you will target, how you will reach that segment, and explain how you will advertise on the Web.
Your assignment must:
• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required page length.
The specific course learning outcomes associated with this assignment are:
• Summarize the principle security and privacy issues related to electronic commerce and actions firms can take to address these issues.
• Identify the basic elements of the technology infrastructure used to conduct electronic business.
• Explain the basic communications and network concepts used in electronic commerce and the basic functioning of the Internet and the World Wide Web.
• Outline the considerations for marketing on the World Wide Web and creating an effective Web presence.
• Use technology and information resources to research issues in fundamentals of e-business.
• Write clearly and concisely about fundamentals of e-business using proper writing mechanics.
SAMPLE ANSWER
Why I would not sell my domain name
I would not sell my domain name given a $1,000 offer; because my business’ products would already be associated with the domain, following the online presence. Marinković (2012) notes, that a domain gives a business its online identity or online branding and is generally the online avenue for my business to connect with customers. It also provides information on the business’ products and where they can be physically purchased or how they can be purchased online. Selling my domain would therefore mean losing touch with my customers and a negative impact on my online branding; and consequently the loss of potential customers who may have planned to revisit the site for more information. Furthermore, it would lead to confusion among clients who were already using the domain; as a new user introduces new products and information on the website once it has been sold. I consider this unethical as it denies consumers information which they would otherwise need to make decisions.
Selling the domain name would impact the business negatively because a new domain name would be required. This means that the business would need to invest financial resources and time in order to develop a new domain. In addition, the fact that I would be creating a new domain would mean that I start developing it from scratch; and take an unknown period of time to take my online brand to the same position as the previous domain. This would consequently lead to lost time and clients as the business attempts to build a new domain.
Obtaining a good domain name is considered an elusive factor and I would therefore be hesitant in selling my domain. Lindenthal (2014) notes that a majority of the best brand names have already been acquired as domain names and finding another good domain name may prove difficult for users. Chances are that the new domain name chosen may not effectively reflect my business’ activities. Furthermore, the process of selecting a name, tasting the domain and finally settling with a name that best reflects the business takes a considerable amount of effort, which would best be avoided by maintaining the current domain.
In considering whether to sell my domain, I would ask myself, what the buyer really wants to do with my domain once it is purchased and whether they are a genuine user. Ethical issues such as hoarding of domain names often arise in the domain business and I would not be pleased if the buyer has the intention of hoarding my domain to sell it later at an exorbitant price.
Benefit of e-commerce software
Effective e-commerce software is user-friendly, in terms of navigation, availability of information, flexibility and versatility, in order to give consumers a delightful shopping experience. In this relation, my e-commerce software will provide buyers with a catalog display, enable them to use a shopping cart and purchase from the website, by providing transaction processing. These functions create convenience and usability for customers and are bound to have immense impact on the business’ return on investment. Each of the functions provides unique benefits as discussed below.
The catalog display is a rich source of information as it helps consumers to make quick decisions, based on the availability of items that they want to purchase as well as their prices. The catalog provides pictures, videos, reviews and user information; which play an important role in helping buyers make viable decisions (Abdullah, Hossain and Joham, 2011). This benefits the company in that consumers are more likely to use online sites that provide a catalog, and having one generally increases sale volumes. Besides informing clients of available products, the e-commerce software records the number of product views as well as reviews on products; information which is necessary in assessing how the business is performing. The information can then be used to make important decisions regarding products that the business should prioritize or eliminate (Abdullah, Hossain and Joham, 2011).
Shopping cart capabilities have gained popularity and large online sellers such as e-bay and Amazon have gained immensely from providing a shopping cart functionality. The shopping cart allows customers to choose products they are interested in and actually proceed to pay for them at the comfort of their homes (Wilson, Pettijohn and McMurtrey, 2006). Given that the items on the shopping cart can be paid for immediately or at a later date gives the buyer flexibility to do ‘window shopping’ and save products that are of interest. A shopping cart is beneficial to the business as it eliminates the need for physical purchases; which in essence allow the business to sell to customers in large geographical regions, away from the area of operation (Wilson, Pettijohn and McMurtrey, 2006).
An organization can only benefit from e-commerce and online selling if is in a position to make sales. Transaction processing allows the buyer to make purchases online instantly and is therefore very convenient. Given that there is no physical contact with the customer and that online purchasing is a ‘self service’ undertaking, it is highly convenient for both clients and the business.
Creating web presence
Creating effective web presence is among the most important aspects of online selling. Consumers should have easy access the business’ products, if they are to consider purchasing them. There are various approaches that I would use to achieve this.
The first step would be to survey the online space, to identify what competitors are doing, and consequently design strategies aimed at penetrating the web space. This also gives an idea of what customers expect in terms of clothing and how best it can be achieved.
I would create an online presence through investing in search engine optimization. This involves influencing the visibility of the website on search engines, such that it is ranked higher on the search results whenever users search for information online. In order to achieve this, I will ensure that my website content is well written, coded and incorporates keywords that customers in my line of business search for (Jöran, Bela and Wilde, 2010). This will ensure more visibility of the website and consequently a higher volume of customers.
An effective way of gaining web presence is to make the website a resource. Atwong (2015) notes that by providing internet users with information on topics of interest can greatly increase online traffic. I would achieve this through creating a fashion blog to provide valuable information for potential customers As people visit my blog to access various resources and follow fashion trends, they would consequently end up viewing my clothing and become potential clients.
A good website is determined by the degree of usability; including ease of navigation, presence of adequate information and flexibility of user options. My website will consist of content that is easy to read and easily understandable. In consideration that web readers mostly skim through content, I will make use of images and graphics as much as possible, while reducing text, in a bid to make it more user-friendly (Huang, Lurie and Mitra, 2009). I will ensure that unique features are installed to help users use the website with ease. In this respect, the website will be available in a mobile-friendly format to ensure that mobile phone users can access it without the need of a computer. To further increase usability, my website would not only provide a catalog, but it would also give users an option to test the products virtually before making a purchase.
Web marketing strategy
My online business will target the youth and middle-aged individuals (age 20-49) due to the fact that they are more likely to use the internet and make online purchases. Statistics indicate that 97 percent of individuals in the U.S. aged between 18-29 use the internet, while the statistics for people aged 30-49 and 50-64 was 93 percent and 88 percent respectively. In addition, more than half of online shopping is linked with individuals aged 21-34; with individuals aged 35-49 accounting for 28 percent of online shoppers.
Enhancing the reach of this population will involve strategic tactics, aimed at attracting viewership and consequently the purchase of products. The first strategy will involve mainstream media advertising including television and magazines, with attractive infographics, which direct users to the company’s website for further information (Goswami, 2015). The advertisements will be strategically placed during popular programs or in fashion magazines that are of interest to the age group. The use of outdoor advertising with conspicuous banners and billboards offering attractive packages, discounts and trendy clothing will also attract online shoppers to the website. To achieve this effect, the media will contain a clear link to the business’ website and indicate the availability of more products.
The use of social media has gained importance in the modern world and it is often considered among the most effective avenues of creating web presence. This is especially so in the target market selected, as they are more likely to use social media to interact with the rest of the world. To promote my business, I will maintain active social media pages, with an objective of creating awareness for my products. In order to create traffic to my sites, the social media pages will be populated with unique, interesting and attractive digital media content, to be shared across the web through various marketing websites and popular social media pages (Atwong, 2015). By creating content that is appealing to customers; my clothing business can achieve adequate online traffic to the site and thus promote sales.
Assignment 1: Starting a Business Online, Part 1
Due Week 4 and worth 200 points
Imagine that you own a small, local clothing store along the Jersey Shore boardwalk and decide that you want to engage in e-Commerce.
Write a 4-5 page paper on the following:
1. Identify the advantages and disadvantages of taking your small business online by performing a SWOT analysis. Include 2-4 items in each category.
2. Because the Internet connects computers all over the world, any business that engages in e-Commerce instantly becomes an international business. The key issues that any company faces when it conducts international commerce include trust, culture, language, government, and infrastructure. Explain how you would address each of these issues.
3. Businesses that operate on the Web must comply with the same laws and regulations that govern the operations of all businesses, but they face 2 additional complicating factors as they try to comply with the law. First, the Web extends a company’s reach beyond traditional boundaries. Second, the Web increases the speed and efficiency of business communications. Explain how you would overcome these complicating factors that come with e-Commerce in order to comply with the law.
4. Law enforcement agencies have difficulty combating many types of online crime. Describe 2 online crimes prevalent in e-Commerce and what you would do to prevent these crimes.
Your assignment must:
• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
• Identify the basic elements of the technology infrastructure used to conduct electronic business.
• Explain the basic communications and network concepts used in electronic commerce and the basic functioning of the Internet and the World Wide Web.
• Describe the critical legal and ethical issues related to electronic commerce.
• Use technology and information resources to research issues in fundamentals of e-business.
• Write clearly and concisely about fundamentals of e-business using proper writing mechanics. SAMPLE ANSWER
Starting a business online
In this current age of technology, the internet has become a fundamental tool in advertising and marketing business. Every business, small or large ones, benefit in the same way from the internet through e-commerce. E-commerce is defined as the use of the Internet and the World Wide Web to conduct some business activities (Barnes et al., 2013). The definition of e-commerce may differ according to the nature of the enterprise.
The Internet is an interconnection of computer networks. It is one of the core virtual infrastructures on which the framework of E-commerce is built on. The other infrastructure is the World Wide Web. The World Wide Web; conventionally known as WWW, is a model on which the Internet is built on. The World Wide Web primary function is to provide access to resources over the internet (Cavusgil et al., 2013).
Small business, like a local retail clothing store, are the ideal businesses that need the aid of e-commerce to scale up its business activities. In essence, a local clothing store stands to gain an advantage over its competitors of the same nature when it embraces the idea of e-commerce. Although, e-business models vary according to the nature of the business. The type model of e-commerce that the local online store will use is between the business and consumer.
The local store will have an online retail store. This online retail store will be in the form of a website. The website must be well structured, the search engine that is optimized and appropriately customized to fit the size of the business it holds. For optimum utilization of the resources and usefulness provided by the Internet, the information found on the website should be reliable, relevant and simple. A small online retail store site does not need to have a website that depicts information that is of no essence in the business being conducted at the shop. It should be kept strictly business oriented.
SWOT Analysis.
The main advantages of adopting an e-commerce method of conducting business are quite many. The local store will join the global business markets. The company will expand and enter international markets. The wider the market, the larger the customer base. Other than that, it is easier to handle small businesses in an e-commerce model. The size of the company dictates the number of transactions that the person running the company will have to manage. This little number of operations owing to the size of the enterprise takes fewer resources to handle electronic transactions over the e-commerce platform (Turban et al., 2015).
The local clothing store can easily offer customer service. Seeing that the number of products provided by a small business is small. Then it is easier to attend to the needs of their clients.
The cost of marketing was so high for small business. But, the advent of the internet saw a solution to this problem. It is now easier to market a little business using the internet, thus saving the company a significant amount of money that would have been utilized in the traditional marketing.
Another reward for small businesses adopting the e-commerce model is reduced cost of outsourcing. Smaller business can use technology to their advantage by contracting another company to perform services for them. This will ensure that small businesses keep up with larger companies, but at a cheaper cost than their counterparts (Barnes et al., 2013).
The fact that a local clothing store is categorized as a small business, the influence of shareholders in companies is withdrawn. The owner of the local clothing store, therefore, does not need to worry about the opinions of shareholders when making crucial business decisions because the shareholders are absent.
The e-commerce platform in the form of a website makes it easy for interested parties to view business information. Moreover, a website for a small business is easy to maintain since updates can be done easily as opposed to large websites designed for larger businesses.
Focusing on the website for the local clothing store, it is quite affordable to get a well-designed site. After the site is created, all that is needed is a domain name and a host. A domain name can be obtained while the website can be hosted by one of the many available and reliable web hosting companies that charge web-hosting annually at an affordable price. Therefore, the cost of e-commerce is quite low compared to the significant returns that this platform is going to yield. Therefore, it makes investing in an online clothing store quite affordable for a small business (Huang et al., 2013).
The Internet also provides a way for the company to gauge their productivity. This is possible through the statistics that one can get from having a website. The amount of traffic on the web will show the number of people visiting the site. Thus, you can gauge the size of the market the business is operating in. Also, you can tell the type of customers visiting your site. This information will be useful developing the company to reach a wider customer base and increase its diversity of clients. It also provides a chance for the company owner to learn from the client’s feedback and provide customer care in an excellent manner (Andam et al., 2014).
Everything that is positive must also have a negative side to it. Therefore, there are a few downsides to e-commerce. One of the weaknesses is the reliability of information about the business that is on the website. If that information is not updated on a regular basis then, the site will end up providing outdated information that will be unreliable to the needs of the business.
Technology also has hitches. These hitches include a power blackout that may render communication over the internet to be impossible. Therefore, the website needs to be hosted by a good web hosting company that will provide unrestricted access to the website at any time. If the web hosting company is not a good one, you will find that the website is always crashing. This may lead the website’s position on the search engine ranking to go down due to an unreliable connection.
Owing to the high number of the business on the web, it is quite an uphill task for a small business to reach the right customers or audience. This is attributed to the fact that some websites have better search engine optimization techniques than others. This puts some business at a disadvantage. Thus, there is a need to use search engine essentials to the best of your advantage. This will ensure that the percentage of the audience or traffic you receive on the web relates positively to the business (Longenecker et al., 2013).
The issue of bad publicity weighs significantly on the significance of an e-commerce platform about the sales made by the enterprise. At a particular time, you may find that a customer is not satisfied with the service or products that your company offers. This may drive the customer to air bad comments about your business as a way of expressing their frustration. The bad publicity may influence other customers. This may lead to the enterprise taking an adverse turn for the worst.
As we all know that image is a crucial thing to protect in the business industry. The Image of a business is everything. Therefore, this issue needs to be dealt with as soon as it comes up. An excellent way to do this is to provide excellent customer care and use feedback from the client to improve the quality of the products and services that a business offers.
The internet has a lot of potential regarding business matters. The internet has made the world be a global village. This means that communication has become faster and cheaper. Considering that communication is a vital organ for running a small business that has a high potential for expansion. More communication will enable the company to reach even the furthest customers in the world. This shows that there are opportunities for business exposure and increased sales that need to be utilized by small businesses.
Security issues are very crucial to a business that is still growing. To sustain the gradual growth over an e-commerce platform, a company needs to assure customers of security. Secure financial transactions, in this case, electronic transactions are a god way to win over the customer’s trust. Cyber theft and other criminal activities that happen over the internet lead to significant losses to business owner. Therefore, this threat needs to be dealt with following the laws that govern cyber activities.
In conclusion, the internet is a very useful tool. It can be used for some activities. The activities may be helpful to small businesses that join the e-commerce platform recently. It will be a big boost to the customer base and sales made by the enterprise. It is quite clear that the advantages of starting a small business online outweigh the disadvantages. The high potential for advertising, business exposure, and increased sales is good enough for a small business to grow with time.
References
Andam, Z. R. (2014). e-Commerce and e-Business.
Barnes, S., & Hunt, B. (Eds.). (2013). E-commerce and v-business. Routledge.
Cavusgil, S. T., Knight, G., Riesenberger, J. R., Rammal, H. G., & Rose, E. L. (2014). International business. Pearson Australia.
Huang, Z., & Benyoucef, M. (2013). From e-commerce to social commerce: A close look at design features. Electronic Commerce Research and Applications, 12(4), 246-259.
Longenecker, J., Petty, J., Palich, L., & Hoy, F. (2013). Small business management. Cengage Learning.
Turban, E., King, D., Lee, J. K., Liang, T. P., & Turban, D. C. (2015). Electronic commerce: A managerial and social networks perspective. Springer.
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PART I: The Key Link Is Organizational Strategy and Training
Most of us are very familiar with the Amazon Corporation and the phenomenal record of growth it has shown. Yet, not many of us know what goes on beneath that record of growth, and how the company functions based on a strongly developed corporate strategy. Read an article, “Jeff Bezos Explains the Next Step in Amazon’s Strategy,” in which Bezos explained one strategy step called “customer delight.”
Read “Jeff Bezos Explains the Next Step in Amazon’s Strategy—The ‘Hardest and Coolest’ Part,” from GeekWire
For a minute, assume you are in charge of developing a training program to help Amazon meet that goal of “customer delight.” (One definition of delight is to give great pleasure, satisfaction, or enjoyment.) Your role is to train Amazon employees who answer the telephone.
ASSIGNMENT INSTRUCTIONS: Address the following:
1. Identify three types of training you would implement to help Amazon meet this strategic goal. Use examples or supporting evidence.
2. Identify at least two specific topics you would include in this training.
3. Explain why you selected these topics and how they would address this strategic goal. Apply relevant professional, personal, or other real-world experiences to extend the dialogue.
PART 2: Generational Differences
One of the key issues developing in the field of training is demographic shifts in the workforce. While workforce shifts in race and ethnicity are generally well documented, other changes, such as generational differences, are often less well-noted. Generally, each generation has trouble understanding the attitudes and values of the generations that came before and after their own.
ASSIGNMENT INSTRUCTIONS: Review the The Millennials Are Coming video and the Generational Differences Chart, then addresses the following:
Click on the link provided to view the following video:
• The Millennials Are Coming | Transcript.
Read the “Generational Differences Chart
1. Do you agree with the evaluation of the millennial generation in the video?
2. Why or why not? Be specific in your reasoning. Use examples or supporting evidence.
3. How would having a group of trainees with members from each of the four generations described in the chart impact how you might have to develop a course in sexual harassment? Apply relevant professional, personal, or other real-world experiences to extend the dialogue.
SAMPLE ANSWER
Customer delight is a form of strategy that centers specifically on the customers. The aim is to ensure that the customer is satisfied and happy with the services offered by the company. When happy, the customer will come again another time and will also encourage other potential customers to seek services of the business. Three crucial trainings to be offered product training, customer needs trainings and customer expectations. Employees must be well versed with the products of the company in order to market them effectively (Bishop, 2013). They must also understand the needs of the customer. Understanding the needs of the clientele helps align the strategies accordingly. Customer expectations must also be carefully considered. The company must always ensure that they meet the expectations of the customers and possibly exceed them.
Some of the specific topics that would be covered under this training include the strength of the products of the company as compared to equal products of competing companies. Employees of the organization should have the ability to convince the customers as to why they should go for their products and not other equal products in the market (Bishop, 2013). The convincing power to a customer is based on good knowledge and understanding of the product.
Another topic that will be covered is the need to make the customer feel special and appreciated. Any time a customer walks into a business premise, they are very keen to see how they will be treated. Any time a customer feels that their time is not appreciated and that they are not given attention, they are not likely to come back. Customers must always remain central in order for the customer delight strategy to succeed.
Generational Differences Chart
The evaluation of the Millennial Generation is quite true. They definitely have a totally different approach to matters of work and certainly are seen as threat to those who have been there before them. Certainly, the fact they are technologically savvy makes them have an upper hand over the preceding generation. In this era, technology is at the center of all business strategies and development (Gaylor, 2012). The only worrying aspect is the manner in which they were raised. They perhaps may not be as aggressive as they ought to be.
I agree with the evaluation and observation having witnessed it fast hand. Despite the fact that the millennial generations are technologically savvy, they are definitely not as aggressive as the business environment demands. They are used to having almost everything on a silver platter. This makes them unprepared for the hard times and challenges they more likely face when they get to work.
Having trainees from the four different generations and having to teach on sexual harassment, one would have to come up with a moderated version. The fact that the trainees are from different generations means that their understanding of sexual harassment varies. Bring harmony in the understanding of sexual harassment from the perspective of all generations (Gaylor, 2012). The best approach in order to ensure that all the participants are well accommodated is to adopt chronology. The training can begin from the very first generation and their understanding of sexual harassment. The trainer can then move gradually to the current understanding of sexual harassment. In doing everybody will be accommodated, while at the same remain relevant and in tandem with the times. It is not always easy to come to a middle point with the different generations but one must always be sought.
References
Bishop, T. (2013). Jeff Bezos explains the next step in Amazon’s strategy- the hardest and coolest part. Geek wire.
CBS News (2007). The millennials are coming: Morley Safer On The New Generation Of American Workers. CBS News.
Gaylor, D. (2012). Generational differences. Director, Chi Alpha Campus Ministries, USA.
Most of us are very familiar with the Amazon Corporation and the phenomenal record of growth it has shown. Yet, not many of us know what goes on beneath that record of growth, and how the company functions based on a strongly developed corporate strategy. Read an article, “Jeff Bezos Explains the Next Step in Amazon’s Strategy,” in which Bezos explained one strategy step called “customer delight.”
Read “Jeff Bezos Explains the Next Step in Amazon’s Strategy—The ‘Hardest and Coolest’ Part,” from GeekWire
For a minute, assume you are in charge of developing a training program to help Amazon meet that goal of “customer delight.” (One definition of delight is to give great pleasure, satisfaction, or enjoyment.) Your role is to train Amazon employees who answer the telephone.
ASSIGNMENT INSTRUCTIONS: Address the following:
1. Identify three types of training you would implement to help Amazon meet this strategic goal. Use examples or supporting evidence.
2. Identify at least two specific topics you would include in this training.
3. Explain why you selected these topics and how they would address this strategic goal. Apply relevant professional, personal, or other real-world experiences to extend the dialogue.
PART 2: Generational Differences
One of the key issues developing in the field of training is demographic shifts in the workforce. While workforce shifts in race and ethnicity are generally well documented, other changes, such as generational differences, are often less well-noted. Generally, each generation has trouble understanding the attitudes and values of the generations that came before and after their own.
ASSIGNMENT INSTRUCTIONS: Review the The Millennials Are Coming video and the Generational Differences Chart, then addresses the following:
Click on the link provided to view the following video:
• The Millennials Are Coming | Transcript.
Read the “Generational Differences Chart
1. Do you agree with the evaluation of the millennial generation in the video?
2. Why or why not? Be specific in your reasoning. Use examples or supporting evidence.
3. How would having a group of trainees with members from each of the four generations described in the chart impact how you might have to develop a course in sexual harassment? Apply relevant professional, personal, or other real-world experiences to extend the dialogue.
SAMPLE ANSWER
Customer delight is a form of strategy that centers specifically on the customers. The aim is to ensure that the customer is satisfied and happy with the services offered by the company. When happy, the customer will come again another time and will also encourage other potential customers to seek services of the business. Three crucial trainings to be offered product training, customer needs trainings and customer expectations. Employees must be well versed with the products of the company in order to market them effectively (Bishop, 2013). They must also understand the needs of the customer. Understanding the needs of the clientele helps align the strategies accordingly. Customer expectations must also be carefully considered. The company must always ensure that they meet the expectations of the customers and possibly exceed them.
Some of the specific topics that would be covered under this training include the strength of the products of the company as compared to equal products of competing companies. Employees of the organization should have the ability to convince the customers as to why they should go for their products and not other equal products in the market (Bishop, 2013). The convincing power to a customer is based on good knowledge and understanding of the product.
Another topic that will be covered is the need to make the customer feel special and appreciated. Any time a customer walks into a business premise, they are very keen to see how they will be treated. Any time a customer feels that their time is not appreciated and that they are not given attention, they are not likely to come back. Customers must always remain central in order for the customer delight strategy to succeed.
Generational Differences Chart
The evaluation of the Millennial Generation is quite true. They definitely have a totally different approach to matters of work and certainly are seen as threat to those who have been there before them. Certainly, the fact they are technologically savvy makes them have an upper hand over the preceding generation. In this era, technology is at the center of all business strategies and development (Gaylor, 2012). The only worrying aspect is the manner in which they were raised. They perhaps may not be as aggressive as they ought to be.
I agree with the evaluation and observation having witnessed it fast hand. Despite the fact that the millennial generations are technologically savvy, they are definitely not as aggressive as the business environment demands. They are used to having almost everything on a silver platter. This makes them unprepared for the hard times and challenges they more likely face when they get to work.
Having trainees from the four different generations and having to teach on sexual harassment, one would have to come up with a moderated version. The fact that the trainees are from different generations means that their understanding of sexual harassment varies. Bring harmony in the understanding of sexual harassment from the perspective of all generations (Gaylor, 2012). The best approach in order to ensure that all the participants are well accommodated is to adopt chronology. The training can begin from the very first generation and their understanding of sexual harassment. The trainer can then move gradually to the current understanding of sexual harassment. In doing everybody will be accommodated, while at the same remain relevant and in tandem with the times. It is not always easy to come to a middle point with the different generations but one must always be sought.
References
Bishop, T. (2013). Jeff Bezos explains the next step in Amazon’s strategy- the hardest and coolest part. Geek wire.
CBS News (2007). The millennials are coming: Morley Safer On The New Generation Of American Workers. CBS News.
Gaylor, D. (2012). Generational differences. Director, Chi Alpha Campus Ministries, USA.
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please proceed with my new order, this is the proposal for the management project, below are the areas I want to cover:
1- how the B2B business in the telecom industry works.
2- how globalization and internationalization is affecting the B2B.
3- best B2B practices in the industry world wide.
4- comparative analysis for Etisalat UAE and Vodafone B2B models.
5- what are the opportunities of B2B business with the globalization.
6- what are the threats or the challenges?
6- I want a part also to be covering the effect of technology on the telecom industry “smart phones, new apps, etc”
Please confirm if this is understandable, knowing that if you will provide me with a good proposal you will also write for me the whole project more than 10000 words.
SAMPLE ANSWER
1.0 Introduction
For many years, Telecommunication is one of the industries that have recorded high growth and profitability. However, this scenario is fast changing, the industry is currently facing a lot of challenges that range from increased competitive rivalry, falling profits, slow growth prospects to rapidly falling prices (SHAH and SHAIKH, 2010). One strategy telecom industry has identified is to spearhead transformation in the way they do their business to cut costs and to ensure they remain competitive. Other challenges that business entities experience in the industry include static business processes that affect marketing, poor customer services, high labour overheads and related costs (ALMOSSAWI, 2012). Lack of integrated services has over the years impacted on customer service negatively in the industry. Telecom industry players have identified integrated services as the only way to meet fast changing customer needs. These challenges, regulatory pressures and the need to capture opportunities presented in the market coupled with other services has contributed to increased Business to Business (B2B) relationships between various service providers, specialist content and telecommunications entities (MEHROTRA and KUMAR, 2014).
2.0 Statement of the Problem
Due to the ever increasing challenges facing the telecom industry largely precipitated by sluggish global economic growth, changing market and fast changing technology, many telecom companies have been forced to rethink their business models (SAMANTA and DANSON, 2014). Many companies in the telecom sector have had to tighten existing management processes, put efforts to eradicate bureaucracy and eliminate duplication of effort and systems to retain their competitive position in the market. Most telecommunication companies are embracing B2B integration to achieve these objectives. Business to business (B2B) integration enables telecom companies to expose interfaces to their processes and systems which facilitates integration of business partners in the industry (LIYAKASA, 2012). Analysts have pointed out that B2B relationships in the industry can be costly and time consuming which could easily make these services commercially unprofitable. Challenges arise from lack of or limited automation, legal and commercial aspects of forming partnerships among others challenges (ZAGER, 2010). The aim of this project is to analyse the opportunities and challenges that are prevalent in B2B relationships in the telecom industry.
3.0 Research Objectives
The specific research objectives of the study include;
To find out the opportunities that are prevalent in B2B relationships in telecom industry
To determine the challenges that telecom companies face in B2B relationships
To find out the current trends in B2B relationships in telecom industry
4.0 Scope of the Study
The study will involve identifying a representative sample from selected players in the industry who have entered into B2B relationships. The study will involve collecting data and information from industry players, regulators and other stakeholders.
References
ALMOSSAWI, M.M., (2012). Customer Satisfaction in the Mobile Telecom Industry in Bahrain: Antecedents and Consequences.International Journal of Marketing Studies, 4(6), pp. 139-156.
LIYAKASA, K., (2012). Fewer than 1 in 7 B2B Customer Relationships Are Optimal. Customer Relationship Management, 16(7), pp. 21-22.
MEHROTRA, R. and KUMAR, S., (2014). A Comparative Study of Customer Relationship Management in Telecom Industry in Rajasthan. Asia Pacific Journal of Management & Entrepreneurship Research, 3(1), pp. 169-178.
SAMANTA, I. and DANSON, M., (2014). DRIVERS OF RELATIONSHIPS AFFECTING B2B FIRMS IN AN E-COMMERCE ENVIRONMENT. Independent Journal of Management & Production, 5(3), pp. 777-805.
SHAH, M.A. and SHAIKH, F.M., (2010). Mobile Phone Industry a Growth Model for the e-Business Firms in Pakistan. Journal of Business Strategies, 4(1), pp. 57-72.
ZAGER, M., (2010). B2B MARKETING NEW DAY, NEW STRATEGIES. Rural Telecommunications, 29(3), pp. 20-22,24
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This module is assessed through two pieces of coursework.
• Case Study Assignment
• Business Planning Assignment
a. Case Study Assignment
The case study assignment will contribute for 70 per cent of the module assessment. It can be in the form of an essay or report and should be typed or word-processed; it should comprise no more than 1,500 words.
Aim
The aim of the individual case study is to show your understanding of a number of entrepreneurship concepts from the module and your ability to apply these in a meaningful, insightful and balanced way. The case study assignment emphasises an understanding and application of concepts you have studied in the module to analysing the entrepreneurial process, the role of the entrepreneur and entrepreneurial outcomes
“Timmons’ described successful entrepreneurs as ‘patient leaders, capable of instilling tangible visions and managing for the long haul. The entrepreneur is at once a learner and a teacher, a doer and a visionary.’ This is all very different from the charismatic hero much loved by folklore. Timmons talks about six dominant themes (‘core attributes’) for successful entrepreneurs and ‘desirable traits’:”
1. Leadership
2. Commitment and determination
3. Opportunity Obsession
4. Tolerance of risk, ambiguity and uncertainty
5. Creativity, self-reliance and ability to adapt
6. Motivation to excel
Alongside this he identifies some desirable traits:
1. Intelligence
2. Creativity & Innovation
3. Energy & Health
4. Emotional Stability
5. Capacity to inspire
6. Values
Adapted from: Entrepreneurship & Small Business, Burns, Palgrave Macmillan 3rd Ed, 2011:441. This is taken from the ‘Original Source’ (latest edition): New Venture Creation – Entrepreneurship for the 21st Century, Timmons & Spinelli, McGraw Hill 8th Edition, 2008
Required:
• Discuss briefly the terms entrepreneur and entrepreneurship.
• Select an ‘entrepreneur’ and illustrate with examples to what extent Timmons core and desirable attributes are applicable to them. You may tabulate your findings.
• Critically evaluate whether these attributes alone fully explain the successful launch and growth of your entrepreneurs venture. What other factors are critical?
• Based on your response and understanding of entrepreneurship following on from the module, what do you conclude about successfully launching and growing a new venture?
• How has this learning impacted you personally in terms of being an entrepreneur or more entrepreneurial?
You are reminded to make use of examples from your analysis and draw upon wider reading of the entrepreneurial literature, in your response.
Additional Guidance:
You can select an entrepreneur who has created a business or social enterprise and your research can be based on ‘desktop’ research or an interview. The entrepreneur need not be well known and you may use someone you know personally. Draw on multiple data sources, clearly reference your work and make use of theoretical frameworks and academic literature discussed through the module and wider reading. The aim is to demonstrate a thorough and grounded understanding of the entrepreneurial process.
Issues you may wish to consider in your analysis include (this is for guidance only):
• the background of the entrepreneur
• the source of the idea
• how the idea was translated into an opportunity
• the role of the entrepreneur(s) and how they coped with risk and uncertainty
• the role of the environment
• the role of social capital
• the types of resources used and how they were acquired
• the role of luck
Further guidance will be provided throughout the course of the module.
Assessment Criteria for Individual Case Study
At the highest level there is no ‘perfect solution’. However higher marks will be awarded for:
• Understanding & Analysis – identification and critical analysis of key issues, quality of reasoning, clear conclusions.
• Evidence of further reading – beyond lecture notes and core text.
• Use of relevant theories, frameworks and terminology.
• Creativity – in evaluation and presentation
• Structure, Style & Presentation of work – clear organisation, logical flow with appropriate use of tables, diagrams and appropriately referenced.
b. Business planning assignment
The business planning assignment will contribute 30 per cent of the overall module assessment.
The assignment is in the form of a business model evaluation and should be typed or word-processed; it should comprise no more than 1,000 words.
The appendices should not exceed 8 pages.
Assignment aims
The aim of the assignment is to show your understanding of a number of entrepreneurship concepts from the module and your ability to apply these in a meaningful, insightful and balanced way. The assignment emphasizes an understanding and application of concepts you have studied in the module to identify, develop and evaluate a business idea and distinguish an ‘idea’ from an ‘opportunity’.
Assignment task
Identify a potential business idea, explore this and construct a business model. Evaluate whether or not your business model is feasible.
The format of your final report will vary according to the nature of the business but it should typically include:
Product/Service Description (Business Concept)
Market Research
Financial projections (One year cash flow and profit and loss, break even, investment requirements)
Evaluation of the business model
Supporting Documents (where necessary)
Ensure that you clearly indicate how much investment would be needed to start the business. The business model should be as realistic as possible, keep assumptions to the minimum, including about your own skills and abilities.
The evaluation of the concept should address the following:
What are the strengths and weaknesses of the concept?
Is the business concept feasible?
Would you pursue this venture? Why or why not?
SAMPLE ANSWER
Introduction
Many people have failed in their businesses due to lack of essential skills concerning entrepreneurship. When one has basic knowledge on entrepreneurship such as the role of entrepreneur, the possible challenges as well as how to tackle them, it leads to success in delving in a given business venture. This paper analyses different aspects of entrepreneurship such as the role of entrepreneur, and how to venture into business in a successful way. There is analysis of the Timmons core and desirable attributes and their applicability in entrepreneurship based on a case study. There is also analysis of how one can maneuver in a new business venture based on a business model. Aspects such as the feasibility of the business venture have been analyzed.
Entrepreneur and entrepreneurship
According to Millán, Congregado, Román et al (2014) an entrepreneur is a person who develops a business idea, acquires the necessary resources and runs such a business. Such a person is usually responsible for the success or failure of the business. For an entrepreneur to be successful in a given business venture, they must be able to articulate some viable attributes in relation to the entrepreneurial ecosystem. This idea emanates from the consideration that; a business does not exist in a vacuum. The entrepreneurial environment plays a great role in influencing success or failure of a given business venture. The entrepreneur must therefore not take for granted the prevailing environment, but must put it into consideration as they move along with management of the business.
Entrepreneurship entails the process of starting a given business venture. Millán, Congregado, Román et al (2014) clarify that; before the start of such a venture, the entrepreneur must have conceived an idea of the idea. Entrepreneurship also involves assembling the required resources. These do not just include monetary resources but may have also to involve personnel. Entrepreneurship also entails managing the given business venture to ensure its success. This idea is based on the consideration that; no entrepreneur starts a business venture with the aim of seeing it fail. But still, for such a business idea to succeed, the entrepreneur must put in the necessary efforts and skills.
Case study
A case study of a well known entrepreneur has led to understanding of applicability of Timmons core and desirable values. The entrepreneur in question is here is Steve Jobs, the founder of Apple. This entrepreneur came to be known in the whole world following his entrepreneurial skills which led to development and maintenance of a global business that withstood the test of hard economic times as well as other business hardships. The skills exercised by this globally known entrepreneur cannot be said to have emanated from business schooling, rather they are associated with his innate traits that perfectly orient to business, as well as his past experience in undertakings that were related to the ventures he came to take.
Through his savings coupled with contribution from his partner, the Apple Company was started. The vision of this entrepreneur was oriented to seeing that the products would change the way people communicate in the whole world. It is such kind of vision that saw the success of this company, and which many entrepreneurs today ought to emulate regardless of the orientation of their businesses.. Timmons core and desirable attributes of an entrepreneur are applicable to this entrepreneur as shown in this table.
leadership
Entrepreneurial trait of leadership has been manifested in this entrepreneur in the way he made leadership in the company. As it is understood, it is not always that leadership is demonstrated in words. Steve Jobs entrepreneurial trait of leadership could be analyzed in terms of the way he set good example as a leader to the employees in his business especially in articulating the quality of hard work.
Commitment and determination
The trait of commitment and determination is manifested in the undertakings of Steve Jobs in the way the way he managed to keep his business afloat despite many challenges that are inescapable in every given business. It is this commitment and determination that saw him come up with gadgets that were not envisioned by any one before and keep measure in place to ensure that they reach the targeted destinations. This determination also enabled him to come up with varieties of the gadgets in a bid to match different needs of different people.
Opportunity obsession
Opportunity obsession in Steve Jobs is manifested in his seizing of the opportunity that he saw in the need for communication especially in the modern world. It is realization of this opportunity that saw Steve Jobs put efforts in ensuring that he comes up with devices that are capable of solving the rising needs of communication
Tolerance of risk, ambiguity and uncertainty
This is manifested in the investment in electronic devices especially in the initial stages whereby; there was no certainty of the outcome.
Creativity, self-reliance and ability to adapt
It is creativity that saw Steve Jobs envision his devices being used allover he world. .
Motivation to excel
Motivation to excel saw Steve Jobs put efforts in coming up with devices that match the need of communication in the modern world. This is more so especially in coming up with highly portable devices.
This entrepreneur demonstrates desirable traits necessary in success of entrepreneurship. For instance, the trait of intelligence is highly demonstrated. Ankeny (2014) proposes that; intelligence is a very much viable trait when it comes to entrepreneurship. It is this intelligence that saw continued existence of this business venture and in a highly successful way despite the many other businesses of this caliber. The trait of creativity is demonstrated in this entrepreneur in the sense that there were efforts to come up with a device that matches a given need for particular groups of people.
These factors are not exhaustive when it comes to entrepreneurship. This idea emanates from the realization that; depending on the nature of business, there is always need to embrace different attributes to ensure success. For instance, creativity must take different angles when it comes to different business venture. Millán, Congregado, Román et al (2014) maintain that; there must also be deliberate seeking of more knowledge concerning business. In the case of this entrepreneur, there should be more efforts of ensuring additional knowledge. This idea is based on the consideration that; the business world keeps changing and therefore entrepreneurs must always be in the front line when it comes to additional studies concerning business.
Many people may be tempted to think that nothing more would have been needed in Steve Jobs, but no one knows how more education would have impacted him in terms of improving his entrepreneurship. It is therefore, crucial that; entrepreneurs attend conferences or even join classes of business studies that will ensure expansion of their business knowledge. Such entrepreneurs should ensure the same for the workers so that they reap the benefit of having highly knowledgeable workers.
Successfully launching and growing a new venture
Many people, including entrepreneurs take for granted the process of launching and growing new venture. As Ankeny (2014) found out; in order for one to be successful in launching and maintain a new venture, they must be articulate in coming up with the business idea. The idea should be based on reality in the ground and not on fantasies. When one has ensured that the idea is viable through a feasibility test or survey, it is crucial that they come up with the strategies of ensuring its launching. For instance, select a strategic positioning f the business. The entrepreneur must ensure that they acquire and maintain human personnel. Many people are tempted to think that as long as one has monetary resources, it is enough for a successful launch of a business. One must have the right human personnel to ensure success. Such human personnel must be well selected in terms of their education level, ability and willingness to serve the purpose.
When an entrepreneur gets the right personnel as required, they ought to ensure that they employ strategies of maintain them. For instance, reasonable remuneration goes a long way in ensuring that the entrepreneur does not lose the good workers. Incentives for motivating the workers also ensure that they employ good performance. To ensure successful launching and growing of a new venture, the entrepreneur must ensure an availability of required materials. For instance, if the business requires transportation, there must be an availability of transportation facilities. There must be an accumulation of adequate capital to ensure that the business kicks up in good momentum.
It is crucial that entrepreneur ensures utilization of the unique advantage of the business. This idea is pegged on the consideration that; when one is coming up with a business idea, they must ensure that there is an element of uniqueness in the venture. This aspect is what the entrepreneur must then seek to utilize in order to maximize on profitability. For instance, if the business attracts more sales in a given period of time, such time must be made use of in the highest way possible.
The entrepreneur must ensure good organization and coordination. This idea is pegged on the trait of an entrepreneur hat touches on leadership. The entrepreneur is a leader who must lead by example. A good organization and coordination of a business ensures a success of the venture. In order to ensure success, the entrepreneur must ensure that the business keeps congruency to the culture of the society. This ensures that the business gets maximum customers which translate to success.
The learning in this course is very much influential because it gives one insights in to the way to become a successful entrepreneur. Articulation of elements of this success such as the core and necessary traits of an entrepreneur as well as the strategies f ensuring success in venturing into a new business, lead to better knowledge and enthusiasm in the entrepreneurial world.
Business planning
The conceived business idea involves provision of computer training services. This idea is based on the realization that; there is increased demand for computer knowledge in the modern world. It is realized that, many people have deficits in one area of computer operation or the other. Other people do not have the idea of operating such useful devices. Pisano (2015) suggests that; in coming up with business ideas, one must consider the available opportunities
The conceived business idea would therefore involve customizing the service to the needs of the individual client. For instance, those that have an idea in one area and not the other would be taken through the course on the part that they lack knowledge. There would also be flexibility in offering the services to match the different timings of clients. For instance, the people who cannot be able to come for the services in daytime due to work or other commitments would be attended at their convenient time. This aspect is in the realization of many commitments ailing people that make them not to be able to get time for some increased knowledge in the usual hours. In consideration of such commitments, there would be more flexibility in the services such that, there would be offering of coaching at one’s required place at extra charges. This would allow people to receive coaching in the comfort of their homes or at relaxation places. Such flexible offer of services would on the other hand provide extra income due to the extra cost associated with them. However, it is realized that; this kind of business requires heavy investment especially with the flexible services. For instance, there would be need for extra workers to cater for the offering of services outside the business premises. Laptops would be required for the venture as well as an office location for contact.
Market research for this business venture would delve in the availability of customers for such services and if they are willing to pay enough for the services such that the business is viably sustained. Pisano (2015) maintains that; such market survey would also entail the cost of needed implements. These would include computers and software. There would also be exploration of the success rates of similar or oriented kind of businesses so as to ascertain the areas that need innovation for more success.
Financial projections
Financial projections in this business model touch on the cash received from the services offered and the costs incurred in buying the implements as well as offering the services. There is a complication in accounting for this kind of business venture due to the realization that there is a huge sum required in the initial investment stage. But the good thing is that the implements bought would serve for a long time while generating profits. There would therefore not be an accumulation of profits in the initial stages; rather, there will be a lapse of time before real profit is generated. It is therefore conclusive that; this kind of business venture requires huge investment as well as patience in waiting for the reach o f profitability stage.
Analysis of the expected cash flow and the expected costs would suggest that within the first one year there would be break even. This is whereby; the business would have been able to pay up all the required cost. There would be cash in but no profit would have been made. This is mainly due to the initial cost of buying electronic implements for the venture. At such point, there would be no profit neither would there be loss. This is as seen in appendix 1
One year cash flow
This is estimated to be as shown in appendix 2
Analysis of the business model
The business model adopted is as seen in appendix 3. The strengths of this business concept touch on its orientation towards realistic needs in today’s world. The world today is revolving around technology and therefore, it is crucial that everyone gets knowledge concerning computer application which enables one to interact with the world as well as carry out much functionality which is useful in business and in day to day life. Therefore, basing a business venture on such need makes it very strong and able to fetch a high market hence its success. Strength in this business model touches on the flexibility of services. The services are to be flexible such that it is possible to accommodate as many customers as possible. Haslam, Tsitsianis, Andersson (2015) assert that; when a service orients to the needs of the customers, it is highly viable and the chances of its success are usually very high. In this model, there is consideration of competencies. In regard to this, the entrepreneur involved, has knowledge concerning the service being offered. There must also be consideration of competency of the employees to be utilized, not only in offering the service required in the business but also in having business knowledge such that they are able to generate income.
In view of this business model, there must be good management f the business. This touches on management of the utilities as well as the personnel involved in the business. Haslam, Tsitsianis, Andersson (2015) note that; in management, one ought to implement the core trait of leadership in successful business management. The product involved is the services being offered. Revenue is expected to be collected from the offering of such services in a flexible manner. In view of this model, there ought to be a wide distribution of the services, but in a controlled manner such that the extended distribution brings in more profits.
However, there is weakness in terms of the initial cost required. The initial cost is high due to the need to buy electronic devices and also payment of initial cost of rent. There is also weakness in terms of the fragility of devices to be used. For instance, it is easy to incur losses from computer breakage or theft. However, this business concept is feasible because; the expected profit far much surpasses the costs involved. In consideration of the long term profit, it would be viable to pursue this venture.
Appendices
Appendix1
Appendix 2
Cash at start 5000
Cash in
Sales in cash——3000
Sales in credit —–500
Cash going out
Inventory ——4500
Rent —200
Wages —2000
Insurance—100
Ads ——-100
appendix 3
References
ANKENY, J 2014, ‘YOU WIN SOME, YOU LOSE SOME’, Entrepreneur, 42, 3, pp. 64-70, Business Source Complete, EBSCOhost, viewed 7 July 2015.
Haslam, C., Tsitsianis, N., Andersson, T., & Gleadle, P. (2015). Accounting for Business Models: Increasing the Visibility of Stakeholders. Journal Of Business Models, 3(1), 62-80.
Millán, J, Congregado, E, Román, C, van Praag, M, & van Stel, A 2014, ‘The value of an educated population for an individual’s entrepreneurship success’, Journal Of Business Venturing, 29, 5, pp. 612-632, Business Source Complete, EBSCOhost, viewed 7 July 2015.
PISANO, GP 2015, ‘YOU NEED AN INNOVATION STRATEGY’, Harvard Business Review, 93, 6, pp. 44-54, Business Source Complete, EBSCOhost, viewed 7 July 2015.
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There are few online clients who are just ready to connect with any online store through its sites and if customers determine an online store as untrustworthy and undependable, then economic impact of this factor on the overall business will be considerable. This is the reason why effective strategies should be made by the organisations in order build and keep up trust in consumers towards internet shopping. The purpose of this assignment is to analyse strategies in which trust is built and maintained by the organisations for the customers towards online shopping and how competitive advantage is obtained by the organisations by using e-commerce as a e marketing tool.
Assignment Task (25%)
You are required to determine and evaluate strategies that build and maintain trust in consumers towards online shopping so that they are attracted to purchase products and perform repeat purchase.
Your report should include the following:
1. Assessing in which way organisations obtain competitive advantage by utilizing e-commerce
2. Analyse in which way organisations attract customers through social media to buy their products online and to promote sales.
3. Critically analyse the strategies that organisations use to build and maintain trust in consumers towards internet shopping.
The Task is an individual report and must be presented in a report format (1,500 words). It is important that your report is properly structured.
Below is an indicative structure for your report:
Title Page
Table of Contents
A list of all the chapters, sections, headings, and sub-headings. Appendices and Figures should be provided as well as all page numbers as clearly as possible.
Executive Summary
Introduction
Conclusion
Reference List / Bibliography:Your report should include references to the appropriate e-commerce and marketing literature (textbooks, journals and websites).
PLEASE TAKE YOUR TIME AND READ MY REQUEST.
IT IS 1500 words and remember that this paper work is from United Kingdom not from America college,
SAMPLE ANSWER
ABSTRACT
Use of E-commerce is gaining popularity in the globalized world market. Most business organizations in the retail sector have factored in e-commerce in their business models and are gaining a lot of profits. E-commerce is gaining popularity because e-commerce model offers a wide variety of products, and the platform reaches more new markets and niche markets (Lee, 2012). E-commerce also utilizes the notion of an endless supply of goods enhancing business operations. This paper conceptualizes the notion that online stores are gaining popularity and that untrustworthiness and undependability can ruin the reputation of such organizations. The paper provides insights through analysis of strategies in which trust is built and maintained in the dynamic online market. On the same note, the paper provides ways in which organizations can gain a competitive advantage by adopting e-commerce in their marketing model.
TABLE OF CONTENTS
Introduction………………………………………………….…………..…….4
Ways in which organizations obtain competitive advantage by using e-commerce………………………………………………………………………………….…4
Social media as a marketing tool……………………………………………..….5
Strategies that organizations use to build and maintain trust in consumers towards internet shopping……………………………………………………………….………………6
Recommendation……………………………………………..……………………8
Conclusion…………………………………………………………………………8
References……..……………………………………………………………………10
Introduction
E-commerce as a marketing tool is gaining an advantage with as technology advances. Research shows that the online shopping tendency is increasing. And organizations adopting e-commerce to market their goods are enjoying increased sales due to; widespread of the internet across the globe, the convenience of online stores (Turban et al., 2015). And on the same note, increasing importance attached to online shopping by leading supermarkets such as Wal-Mart and LeShop. Most organizations no longer engage in price wars to win customers. Instead, they invest in knowledge, corporate social responsibilities, and a good customer relation defines well-positioned and profitable companies. For e-commerce to function directly and increase sales, it must be tied to customer relationship management (CRM). E-commerce provides a platform where the trading relationship is forged and maintained. Organization must develop shopping sites with unique selling propositions as a basis of differentiation from other organizations to gain competitive advantage. E-commerce refers to the transaction of business by a personal computer, mobile phones or other devices connected to a communication network. It is the realization of the whole value chain of a business process in an electronic environment, achieving the goal of buying and selling of products, services or information.
Ways in which organizations obtain competitive advantage by utilizing e-commerce
E-commerce enables organizations to expand its market base across the globe. Powerful e-commerce tools enable business organizations to reach buyers anywhere in the globe without the need to add staff and overhead costs in satellite business premises. However, to gain a competitive advantage business should understand cultural values for different people and market their products in a friendly manner without raising ethnic or racial differences (Huang & Benyoucef, 2013).
The depth and effectiveness of online product catalog also provide a competitive advantage to business organizations. Modern e-commerce tools enable organizations to merchandise goods tailored to customer needs. Customers can search online stores based on customer profile, histories and search terms to assess products. This personalization of goods enables enterprises to showcase on superior product knowledge and thus earn customer loyalty. Therefore, an organization should develop good and effective product catalogs that can feature products that online shoppers are interested.
Small business also obtain a competitive advantage by using e-commerce is that it allows such organization to offer differentiated experiences by specializing in specific market niches or segments. The use of information technology and e-commerce enables organizations to observe trends and develop strategies based on the behavior of customers and potential customers. This can be achieved using customer relationship management (CRM) and Business Intelligence (BI) (Kwahk et al., 2012).
Social Media as a Marketing Tool
Social media is a powerful tool that a business organization uses to market their products to attract customers to make online purchases and promote sales. Social media such as Facebook, Twitter, Instagram can be used to generate website traffic. By sharing SEO blog posts, pictures and videos and other content from the company site makes social media click through and surf on your site. Once they are in your site marketers can inspire these visitors to make purchases, consult or even sign up for a mailing list hence increase the customer base and sales.
Social media is used to build brand and organization reputation. Organizations use social media as a brand building tool. A company can build organization reputation and brand by consistently creating great content revolving around the company’s advantages, values and benefits (Lee, 2014). Because online shopping is built upon trust, reliability and credibility, reputation, and brand recognition is vital to winning customers purchase products from a company website. By engaging customers in a creative way, organizations can build their brand based on core values. On the same note, the companies will be able to understand customer needs through informative conversation and hence help in attaining business sustainability.
Social media provides repeat exposure to company products and profile. Social media provides a company an opportunity to remind the customer over and over again about the products they offer this can increase sales made through online shopping dramatically. With effective social media marketing strategies, an organization can post informing photos, product reviews and videos about what they offer repeatedly to target customers (Close, 2012). Therefore, increasing chances of making sales and shorten the sales cycle dramatically.
Organizations can build authority using social media. Be as it may, social media helps new businesses establish authority and credibility in your field. Service based business use social media as a way to create presence and awareness for their services. Other ways that can be associated with social media as a means of creating competitive advantages and increase online shopping include: social media can enable an organization to land in huge contracts. Social media provides an opportunity for an organization to understand customer taste and preferences and also understand customer views to help in developing better products.
Strategies that organizations use to build and maintain trust with consumers towards internet shopping
According to Jonathan Lee (2014), trust is a strategic asset for a business organization that engages in e-commerce and online shopping. Business enterprises spent ages in building trust and therefore it is paramount that organizations grasp the consumer’s perceptions towards privacy and credibility. Organizations also need to develop native digital brands to build and maintain trust by connecting with customers in unique ways.
Building trust through transparency: transparency is critical for a company to establish its presence and win customer trust to purchase their products online. Companies should embrace transparency and use this during online conversations.
Accountability: Companies should engage with their customers openly through social media to ensure there is accountability. Companies should always prove themselves accountable for providing quality services, great products, and good customer service. The company can always use fun and simple engagement but ensuring that ethics and a good code of contact are always maintained.
Ensuring customer privacy: Organizations can build trust in consumers towards internet shopping by ensuring data privacy. Organizations should invest in customer confidence. Most customers are complacent in behavior when it comes to their privacy and breaching this trust can harm customer relationship.
Delivering what is promised: organizations should market exactly what they have instead of duping customers with catchy product review and promising quality while their products are substandard (Lee, 2014). Enterprises should ensure that they deliver to the customer what they promise during the advertisement campaign so as to win customers trust towards internet shopping. A discrepancy between what is promised in digital platforms and the product can hurt a band reputation.
Corporate Social Responsibility: engaging in CSR can help an organization to build trust with their customers. A Socially responsible company gains more sales because their clients know that they are not interested in profit only, but also giving back to the society (Lee, 2014).
Recommendations
The secret to online shopping is creating a credible brand and winning customer trust. Therefore, business organizations should invest in building strategies that can help in building a reputation and build customer trust. Organization should develop depth product catalog and innovative product reviews that provide detailed information about the products and services the company offers.
Business enterprises should also engage in spending a considerable amount of time and resources to invest in understanding customer needs. This can be achieved by marketing and communicating with prospective clients using social media. Developing marketing strategies and utilizing e-commerce tools amid using social media to build trust and accountability can increase online presence. Therefore, increasing online shopping hence increasing sales volume, sales cycle and help an organization achieve organizational goals and business sustainability.
Conclusion
E-commerce is one of the powerful marketing tools that can help the organization achieve success. Organization can use social media effectively to drive a potential customer towards the company site to make online purchases. However, caution should always be adopted to ensure that organization reputation is build to help in winning customer loyalty. Organization should ensure that they provide genuine products as promised through advertisements in social media to ensure that they win customer loyalty (Lee, 2014). On the same note, business organizations should ensure transparency and accountability in online business strategy to so as to win customers to make online purchases. Privacy with customers should also be maintained because customers prefer to keep confidentiality when making online purchases. And as such, business enterprises can enjoy thriving sales through online shopping.
References
Lee, I. (2012). Electronic commerce management for business activities and global enterprises: Competitive advantages. Hershey, PA: Business Science Reference.
Turban, E., King, D., Lee, J. K., Liang, T. P., & Turban, D. C. (2015).Electronic commerce: A managerial and social networks perspective. Springer.
Huang, Z., & Benyoucef, M. (2013). From e-commerce to social commerce: A close look at design features. Electronic Commerce Research and Applications, 12(4), 246-259.
Kwahk, K. Y., & Ge, X. (2012, January). The effects of social media on E-commerce: A perspective of social impact theory. In System Science (HICSS), 2012 45th Hawaii International Conference on (pp. 1814-1823). IEEE.
Close, A. G. (Ed.). (2012). Online Consumer Behavior: Theory and Research in Social Media, Advertising and E-tail. Routledge.
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Can Britain retain ownership of its former imperial oil company – BP
Can Britain retain ownership of its former imperial oil company – BP
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Clear demonstration of rigorous research from recognised authoritative sources. Audience focus. Meeting the deliverables. 50% Rigorous use of the Harvard Methodology for citation and referencing; page numbering; correct display of direct quotations. 10 % Demonstration of a clear understanding of the issues. Use of academic models. Full articulation of ideas developed. Offering well-argued solutions and/or alternatives. 40% Assignment Task Can Britain retain ownership of its former imperial oil company – BP? BP was a member of the “Seven Sisters” collective of international oil companies in the 1970s, rubbing shoulders with Exxon and Shell as one of the top 3 oil giants of that era. Since then, it has encountered several troubles, not least of which was its involvement with the Texas City refinery fire and the Deepwater Horizon disaster in the Gulf of Mexico in 2010. The cost of the Gulf of Mexico debacle, at $43 billion and still counting, in fines, legal costs and clean-up has seen enter into asset sales of some $40 billion to help finance these gigantic bills. Whilst doggedly maintaining its generous shareholder dividends, on which many private and institutional portfolios rely on both sides of the Atlantic, BP shares have fallen by one-fifth in the past 10 years. This contrasts significantly with broader stock market indices which show growth of some 20% in the same period. Shareholders have become nervous, not only because the dividend returns are slightly negative, even if the yield remains good and attractive, but that BP is rapidly becoming a potential take-over target. Stock market capitalisation is still large at $107 billion, but in April 2010 BP’s market capitalisation was at a high of $190 billion. BP still has some strengths – its expertise in deep-water drilling and a 20% stake in Rosneft, Russia’s biggest oil company. More recent reactions by BP senior management to falling oil prices and the ongoing USA lawsuits have seen a 15% reduction in capital expenditure this year, and the announcement of a $1 billion restructuring programme. Is all this enough to keep BP independent, or will rivals seek to capitalise on BP’s weakness and make a take-over bid for it? In a 2,000-word essay, discuss both the attractions and disadvantages of BP as a possible take-over target, and identify the most probable bidders for BP. Give some examples of the problems that face these potential bidders in terms of political issues and managerial styles. Discuss whether a continuation of low oil prices, as seen in the first quarter of 2015, will accelerate any take-over bid, or would low prices be another barrier. Your own interpretations and conclusions from your researches are fundamental. Supporting your own arguments in a robust and objective manner will qualify for better marks than a simple re-statement of the data and opinion found in the research. Total marks for assignment: 100 Please take your time and read all instructions so that i can have highest marks.
SAMPLE ANSWER
Introduction
BP is in the league of “super major” oil and gas corporations in the world. This British multinational corporation is headquartered in the St. James area of London in the United Kingdom. The corporation is currently the sixth biggest oil and gas companies in the world as demonstrated by its 2012 financial performance. The corporation is vertically integrated which enables it to operate in all areas of oil and gas business (ADAMS, CROOKS and PARKER, 2015). The corporation is therefore involved in oil and gas exploration and production as well as in refining, distribution and marketing in all the markets it operates in. The corporation is also involved in the business of developing and trading in renewable energy which includes solar, wind and bio-fuels among others. The company also deals in petrochemicals, power generation and trading in oil and gas products (HENRY, 2015). The corporation produces 3.2 million barrels of crude oil per day from its wells. This oil is produced from oil wells located in about 80 countries where the corporation has exploration and production agreements. From current estimates, the corporation has proven oil reserves in its production blocks located in several countries of over 17.9 billion barrels. These unexploited oil reserves will enable the corporation to remain in the business of oil production for many years to come. The corporation’s distribution network consists of over 17, 800 petrol service stations’ located in several countries. Of the 17,800 petrol service stations’, the largest percentage of them is found in the United States of America which hosts the largest business operations of the corporation in the world (CROOKS, JOHNSON and SAIGOL, 2010).
The corporation is listed on the New York Stock Exchange in the United States of America and Frankfurt Stock Exchange in Europe. The two listings are classified as secondary listings as the corporation has its primary listing on the London Stock Exchange in the United Kingdom. The corporation is one of the blue chip companies that constitute the FTSE 100 Index of the London Stock Exchange. Founded in 1908 in the United Kingdom, the corporation was initially known as Anglo-Persian Oil Company. The corporation adopted many names as ownership and control changed since then and throughout its long history up to the current name of BP which is an acronym for Beyond Petroleum (CROOKS, JOHNSON and SAIGOL, 2010). In 2001, the corporation changed its name from British Petroleum, a name it adapted in 1954, to BP which is an acronym for Beyond Petroleum. This was after it made some important acquisitions and needed to assume a global identity (CROOKS, JOHNSON and SAIGOL, 2010). With a staff compliment of over 83,000 employees, the corporation is one of the largest employers in the world. The corporation holds 19.75% stake in Rosneft. Rosneft is a publicly traded Russian oil and gas company which deals in the production of hydrocarbons (CROOKS, JOHNSON and SAIGOL, 2010).
BP Group has over its history been involved in several large scale oil spills and disasters which have posed untold danger to the natural environment and incurred the corporation substantial costs inform of legal dues, fines, and compensation and clean up costs. One of the most recent and notable disaster, which happened in 2005, was the Texas City Refinery explosion which caused the death of 15 workers. The United States of America’s court that probed the disaster placed blame on BP and fined the corporation heavily for its contribution to the disaster (CROOKS, JOHNSON and SAIGOL, 2010). The next disaster was recorded a year later in 2006 in Alaska’s North Slope. In this disaster a BP’s oil pipeline burst resulting in the largest oil spill at the time. Once again a US court probed the matter and found BP liable for the accident. The corporation was fined the largest per barrel civil penalty fine in a US court in history at the time of $25 million. The next incident occurred four years later in 2010, which resulted in spillage of oil into marine waters in the Gulf of Mexico and loss of 11 lives (CROOKS, JOHNSON and SAIGOL, 2010). The corporation has up to date paid fines, legal fees, clean up costs and other miscellaneous costs to the tune of $ billion dollars on account of the Deep Horizon disaster in the Gulf of Mexico as it is referred to in various circles. However, there are still legal suits waiting to be heard while new ones keep on being filed by parties that feel aggrieved by the disaster. Analysts have estimated that BP will be forced to pay upwards of $46 billion dollars once all cases are concluded which puts the corporation’s future survival in jeopardy (LIND, 2010).
An analysis of the attractions and disadvantages of BP as a possible take-over target
The principle reason for existence for any business entity is to maximize shareholder wealth which is in line with contemporary financial theory. The financial interest of shareholders is met by making this principle reason the main objective of any organization (CROOKS, JOHNSON and SAIGOL, 2010). However, to maximize shareholder wealth corporations must also meet the interests of other stakeholders who are either affected or are interested in its activities (CROOKS, JOHNSON and SAIGOL, 2010). Despite these challenges, the corporation has continued to report profits and pay attractive dividends each financial year. The company is the mainstay of many private and institutional portfolios due to the reliable and generous dividends that it pays to its shareholders (LIND, 2010). Lately, investor discontent has started being witnessed due to various factors. One of the factors that are contributing to the rising discontentment among investors and shareholders includes the fact that the company’s shares have fallen by a fifth in the last 10 years. This fall has seen the company underperform the broader market and has resulted in slightly negative shareholder returns (LIND, 2010). The company’s share performance is illustrated in the diagram below.
The above diagram shows that the Deep water Horizon incident in the Gulf of Mexico which cost the company some $43 billion and which occurred in 2010 hugely impacted the corporation’s performance on the market.
One of the attractions for a takeover bid is that the corporation has since the incidence occurred sold off more than $40 billion of its assets to meet costs associated with the Deep Water Horizon incident in the Gulf of Mexico (LIND, 2010). This resulted in a reduction in size by one third; which in effect has reduced the price that possible takeover suitors will have to pay to take over the company. The corporation’s market capitalization has fallen from a high of $190 billion recorded in April, 2010 to $ 107 billion (NORMAN, 2015). This substantial fall is likely to convince takeover suitors that fall is a temporary occurrence and that market capitalization will rise once the Deep Horizon incident is solved conclusively. This is a driving force for suitors who are eager to make capital gains in the future (GROSS and SCHECK, 2015). The other factor that it making a takeover more likely is the possible impact on the company’s revenues and operations caused by the current fall in oil prices. The combined effect of these factors has seen BP reduce its capital expenditure budget and make substantial job cuts. As costs of the Deep Horizon incident and falling oil prices persist, BP may be forced to temporarily stop paying dividends and reduce its capital expenditure substantially. This would automatically reflect on market prices which would reduce the takeover strike price (GROSS and SCHECK, 2015). This scenario is likely to make the takeover of BP more attractive. The takeover will likely be supported by private and individual investors as it will also offer them an opportunity to exit the company by offloading the shares they hold to the company taking over. The fact that the company has reduced its capital expenditure budget is also another case for the takeover. Cutting capital investment budget is a sign that the company is reducing its ability to generate new growth (GROSS and SCHECK, 2015). This shows that the company is constrained financially and will not be able to compete on the international stage. Many investors are also projecting a situation where BP will start paying dividends in new shares or bonus shares instead of cash in the future. The likelihood that BP could be taken over are high as its weaknesses become more pronounced (LIND, 2010). Another reason for the takeover, apart from BP challenges, is the general gloom in the oil industry. The S&P Global Oil Index has performed marginally worse than BP since 2010. All big oil companies have been struggling with rising costs and falling reserves even before oil prices dropped. Mergers and acquisitions are a good avenue for struggling oil companies to cut costs and makes some savings (SAIGOL and JOHNSON, 2010).
Even though BP market capitalization has fallen from a high of $190 billion as at April 2010 to a low of $107 billion presently, it is still costly to many suitors. The list of buyers is therefore small and includes Exxon Mobil, Shell, Chevron and some state firms in Saudi Arabia, Qatar and Kuwait. However, even though these state firms are big enough as to afford BP they have not shown any interest in the corporation (ELDER, 2014). The most likely buyers are Chevron, Exxon Mobil and Shell whose market capitalizations are $196 billion, $380 billion and $197 billion respectively. There are several reasons as to why each firm may or may not pursue a takeover with BP. Exxon Mobil could take over BP to strengthen its presence in the USA. Exxon Mobil has small American business when compared to its operations internationally and would be willing to take over BP to increase its presence in the American market (SAIGOL and JOHNSON, 2010). Exxon Mobil has a low leverage position and is awash with cash which can be channeled to finance the takeover of BP. The corporation is also experienced in the takeover of similar oil companies as it took over Mobil in 1999 without major challenges. The corporation also has low borrowing costs which will enable it to obtain adequate funds to take over BP. Exxon Mobil is also known to have unrivalled political clout which would come in handy in handling the outstanding BP lawsuits (GROSS and SCHECK, 2015). BP is known to have handled American court cases shoddily and would benefit from Exxon Mobil’s political clout to turn around the outcome of the remaining cases. Another reason that would push Exxon Mobil to consider taking over BP is BP’s stake of 20% in Rosneft. Rosneft is the biggest and well-connected oil firm in Russia. Taking over BP would in effect give Exxon Mobil a foothold into Russian oil fields. The Exxon Mobil exit Russia after sanctions were placed on Russia by western powers (SAIGOL and JOHNSON, 2010). The fact that Rosneft is heavily indebted is an opportunity for Exxon Mobil to increase its stake in the company and acquire a bigger say in the company’s strategic direction. Russia’s oil and gas reserves cannot be ignored by any keen oil and gas company and the fact that Rosneft is cut from western capitals due to sanctions on Russia, offers another incentive for Exxon Mobil to bid to take over BP (SAIGOL and JOHNSON, 2010).
It is however, unlikely that Exxon Mobil would be able to help solve the outstanding BP lawsuits if it takes over the corporation. The remaining lawsuits are to be heard in Louisiana. Outsiders tend to fare poorly in Louisiana which makes it more difficult for BP to get the cases adjudged in its favor. In one of Barrack Obama’s well-circulated statements, he referred to BP as “British Petroleum” which is viewed as having set the stage for the unfavorable view of the company’s interests. This might influence the outcome of the remaining cases and the view that the US courts can be influenced by money and influence is somewhat unjustified. Exxon Mobil’s board may be unwilling to approve a takeover of a company embroiled in legal suits (DENNING, 2010).
Shell seems unlikely to take over the company as it is facing challenges of its own. Even though Shell has a solid balance sheet, and there are attractive synergies and cost savings that can be realized by the merger, Shell is known to shy away from hostile bids as it is simply not its style. Shell is also not doing well on its drilling projects’, including its Alaskan drilling project and had to scrap a huge petrochemicals’ project that was based in Qatar. Shell and BP are said to have two separate cultures that would be hard to align (LIND, 2010). BP’s culture still stinks of imperialist tendencies whereby employees are afraid to convey bad news to their bosses’ whereas at Shell culture is flatter and more collaborative and the corporation sees itself as being engineering-driven. The only probable merger would be by Chevron which would mainly be a “white knight” merger to keep away Exxon Mobil and Shell (LIND, 2010).
A takeover from any of these companies is also likely to face strong headwinds from the British government. In recent statements, the UK government has expressed their disapproval of any takeover of BP by outsiders. BP has strong links with the top bureaucracies in the UK government and has a long history with the government. The UK government is likely to make it difficult for any potential suitor to take over BP (PARKER and ADAMS, 2015). All indications point to BP remaining as an independent company judging from recent statements made by top bureaucrats in the UK government. Top current and past advisers and directors such as include Lord Brownie are known to be very influential and possess deep and powerful connections within the government. This cabal of powerful people is known to favor BP remaining independent and British (CROOKS, JOHNSON and SAIGOL, 2010).
References
ADAMS, C., CROOKS, E. and PARKER, G., (2015, Apr 27). UK government says it will stand in the way of any BP takeover attempts. Financial Times, 1. ISSN 03071766.
CROOKS, E., JOHNSON, M. and SAIGOL, L., (2010, Jun 03). Talk of takeover swirls around BP. Financial Times, 19. ISSN 03071766.
DENNING, L., (2010, Jun 12). Is BP Stock a ‘Buy’? — Investors Review the Scenarios, and See Some Hope. Wall Street Journal. ISSN 00999660.
ELDER, B., (2014, Nov 08). BP pushes higher after talk of potential takeover resurfaces. Financial Times, 22. ISSN 03071766.
GROSS, J. and SCHECK, J., (2015, Apr 26). U.K. Tells BP it Would Oppose Foreign Takeover of the Company; Government wants oil giant to remain a British company with global clout. Wall Street Journal (Online).
HENRY, C., (2015, Apr 28). Lib Dems: Blocking a BP takeover would be a massive Tory U-turn. City A.M., 4.
LIND, S., (2010). BP kicks off post-Deepwater review of UK adviser roster. Legal Week, 12(41),1.
NORMAN, T., (2015). Government warns BP over foreign takeover. Money Marketing (Online), .
PARKER, G. and ADAMS, C., (2015). UK government warns BP over potential takeover. FT.com, .
SAIGOL, L. and JOHNSON, M., (2010). Talk of takeover swirls around BP. FT.com, .
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Please read the Research Proposal and the Annotated Outline Example in the attached files then prepare an annotated outline of the Final Project indicating the general idea of each section in the report along with a list of references studied and the concepts and techniques applied from your studies. Please follow the exact instruction in the Annotated Outline Example.
Note: Use WALMART as a company
Also,
1) The answer must raise appropriate critical questions.
2) Do include all your references, as per the Harvard Referencing System,
3) Please don’t use Wikipedia web site.
4) I need examples from peer reviewed articles or researches.
5) Turnitin.com copy percentage must be 10% or less.
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SAMPLE ANSWER
Walmart
Introduction
IV). Walmart is an American corporation that is based in New York and has over 8000 branches across the US and neighboring countries. Walmart is a retailing multinational corporation that hosts over hundred million shoppers every week and has over two million employees worldwide. The success of the company can be largely attributed to its successful implementation of performance management system that makes it possible to manage such a huge number of employees effectively (Bhave & Brutus, 2011). Performance management system has made it possible for Walmart to adopt competitive strategies that has propelled its performance to the highest standards possible. However, the company’s competitive strategy has not been aligned with its performance management systems (PMS). These means that the company’s competitive strategy is also not connected to the Human Resource core functions of staff motivation, training, development and compensation strategies. To maximize its potential, Walmart must improve its performance management strategies (Pulakos & O’Leary, 2010). The company must exploit all the opportunities that come along with organized and effective performance management systems (PMS).
I). Walmart needs to create an inter-link between the various components of performance management with employee goals together with the organizations strategies. The application of PMS depends on the purpose and objective of the company strategies. Performance management systems that have been designed to enhance decision making purposes and also for relative employee development utilizes the information retrieved from the PMS feedback systems as a basis for promotions, pay increases, transfers, reduction or even terminations on inefficiency grounds. While if the PMS is purely meant for employee training, mentoring and skill development activities then the appraisal information will be utilized only for that purpose. The role of the human resource department in creation of value cannot be ignored and the only way to gain competitive advantage is by linking its core functions to compensation and development of employees. The resource-based view provides adequate theoretical foundation that links human resource management together with performance. Resource-based view (RBV) contributes massively to the development of human and social capital in an organization (Guest, 2011). Walmart may achieve a higher competitive advantage if it incorporates the RBV in its systems as its employee compensation package form a large part of its total revenue expenditure. The major advantage of incorporating RBV models in performance management is that they include most of the factors that are generally associated with success like leadership, technical and interpersonal skills. Competency levels besides communicating the important issues in an organization, they also provide the basis for developing human resource systems by integrating performance management functions with the key HR functions like staffing, promotion, training and succession planning.
III). The efficiency of performance management systems can be evaluated by its effectiveness especially in communicating the competency levels required from different departments and the employee behaviors in those departments. The other measure is the application of Line of Sight (LOF) (Buller & McEvoy, 2012).
Walmart can apply competency models as a way of measuring performance management. Competency models practically articulate the skills, knowledge, characteristics and other abilities that are instrumental in assisting the organization in its effort to achieve its goals. Job analysis techniques can also be applied in performance measurement. Job observations, surveys and interviews can be applied in identifying the key competencies that may define the measurement units which are associated with critical work behaviors or tasks in organizations (Broadbent & Laughlin, 2009, pg. 285).
II). The mission, vision and values of the organization should be aligned with the company’s strategy. The performance management system should also be modeled along the same principles that reflect the object and mission of the organization (Ferreira & Otley, 2009). The decision to go global may affect a company’s performance management strategies especially if the organization is unprepared. The challenges and the competitive nature of international business require a high level of organization and competent performance management systems.
Performance management has always been treated with suspicion and fear among the managers and the employees alike. To employees, performance management brings into the organization a yardstick that can be used to judge or rate the performance of employees. Hence it creates a frightening experience for some employees who are lazy and incompetent. Managers regard performance management as a tool that can destroy the trust that the employees have placed in them and the processes may damage their existing relationship (Jirjahn & Poutsma, 2013).
The relationship or link that performance management has with strategic planning is the link between the PMS and the company’s strategic plan than synchronizes the needs of individual employees and the company’s goals and objectives (Pulakos, 2010). Performance appraisals form the basis of employee training and compensation. These processes are implemented through training competencies known as raters. But according to Kaplan and Norton (2004) the last and the most important high-level strategy is the daily schedule of operations that occur after linking individual employee reward programs to the BSC. Walmart would be able to motivate and also monitor the progress and performance of its entire workforce. Performance Related Pay (PRP) works effectively where system evaluations provide valuable feedback to the HR department for revaluation and implementation (Kumari & Malhotra, 2012).
V). Finally, the major processes are fivefold; performance planning, feedback evaluation, employee input, performance evaluation and performance review (Pulakos, 2010). These processes are intertwined with each other such that the feedback process can only be relevant if all the input from the employees are evaluated and reviewed hence the results are channeled for feedback evaluation where critical decisions like employee appraisals and recommendations take place. Other determinants like the ratings also apply in the process hence making it effective and successful. These processes can be summarized into just three processes i.e. Objective setting for the performance management, task performance and development and performance review.
Financial or extrinsic rewards in performance management relate to merit and which depends on performance when it’s linked to employee compensation. In PM the decisions on reward allocation depends on the appraisals from the feedback system. Non-financial or intrinsic reward systems includes other forms of rewards that may include development through training, recognition, career guidance and improved quality of working life. Application of non-financial rewards to performance management is challenging as employees have to be consulted on what they value unlike when dealing with financial rewards consultation is not necessary (Tolan, 2011). Performance measurement is a tool that is utilized in performance management to evaluate the performance of individual employees when conducting appraisal for employee recommendations. Performance measurement techniques are critical to the success of the performance management process as they determine the nature of feedback that the system generates. Processes like BSC are applied to ensure that the PM system is effective and successful.
References
Bhave, D.P., & Brutus, S., 2011, A macro perspective to micro issues, Industrial and organizational psychology, 4(2): 165-168
Broadbent, J. & Laughlin, R., 2009, Performance Management Systems: A conceptual Model, Management Accounting Research, 20, 283 – 295.
Buller, P.F. & McEvoy, M.G., 2012, Strategy, Human Resource Management and Performance: Sharpening Line of Sight, Human Resource Management Review 22 (2012) 43-56
Ferreira, A. & Otley, D., 2009, The Design and Use of Performance management Systems: An Extended Framework for Analysis, Management Accounting Research. 20, 263 – 282.
Guest, D.E. (2011) Human Resource Management and Performance: Still Searching for answers, Human Resource Management Journal, 21(1) 3-13.
Jirjahn, U, & Poutsma, E., 2013, ‘The Use of Performance Appraisal Systems: Evidence from Dutch Establishment Data’, Industrial Relations, 52, 4, pp. 801-828, Business Source Complete, EBSCO host, viewed 26 June 2015.
Kaplan, R.S. & Norton, D.P., 2004, The strategy Map: A Guide to Aligning Intangible Assets, Strategies and Leadership, Vol. 32, No. 5, pp. 10 – 17.
Kumari, N, & Malhotra, R., 2012, ‘Effective Performance Management System For Enhancing Growth’, Global Management Journal, 4, 1/2, pp. 77-85, Business Source Complete, EBSCO host, viewed 26 June 2015.
Pulakos, E.D., 2010, Performance management: A roadmap for developing, implementing and evaluating performance management systems, Society for Human Resource Management.
Tolan, M., 2011, ‘Developing Performance Appraisal Systems for Academicians’, Proceedings Of The Northeast Business & Economics Association, pp. 474-477, Business Source Complete, EBSCO host, viewed 26 June 2015.
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