The Process of Change Management Models

The process of Change Management Models Order Instructions: Change management models

The Process of Change Management Models
The Process of Change Management Models

The material you have studied this week is intended to provide a linkage between the change drivers that emerge either from within the firm itself or as a result of events and activities that take place in its operating environment, as well as a subsequent process of change that individuals in that firm will be required to manage. The key concept that emerges from this material can be usefully summarised in the following statement:
The primary requirement of a successful change management initiative is to facilitate a process of change that is established in response to one or more internally or externally located change drivers. A change process of any material scale will inevitably impact on the firm’s core business model and will be optimally successful when it reconciles the often competing philosophies and perspectives of multiple stakeholders. This reconciliation is best achieved through the overlay of a guiding change management framework, as opposed to the imposition of a staged and linear prescription.

This week’s Key Concept Exercise requires you to reflect on the following three things:

(1) the extent to which any specific change process will generate implications for the organizational stakeholders most directly affected,

(2) what the nature of those implications might be and

(3) how the change manager can best take those implications into account as the change process is implemented.

In short,

(1) who are the stakeholders that change managers need to think about,

(2) what are their attitudes to change likely to be and (3) how can those attitudes be most effectively reconciled?

To prepare for this Key Concept Exercise:

• Read the uploaded files.
• Reflect on the ideas presented in the Week 3 Key Concept Overview and the assigned journal articles, in the light of your own practical experiences in the workplace.
• Consider ONE of the possible change drivers listed below, and use your chosen change driver as the basis of an initial response to the Key Concept Exercise that follows:

o Introduction of new government legislation that imposes a ban on media advertising of your top-selling fast food product line on the grounds that it poses a threat to public health.

o Failure to secure a renewal of contract with your single most important customer, resulting in an almost overnight 30% drop in revenue.

o The release of a government report that predicts a rapid increase in the size of the immigrant community (from one particular origin country) in your geographical target market region.

o Advice from your management accountants that the repairs and maintenance costs for your existing (and aging) plant and equipment have become such that a major investment in new technologies is now necessary to ensure your continued survival.

o Recent political polls suggesting that an upcoming general election is likely to see the ‘green’ political movement take a much more prominent role in the formation of government policy in your country.

To complete this Key Concept Exercise:

• Critically analyze the impact of organizational change management processes that might be introduced in response to your chosen change driver.

• In formulating your Key Concept Exercise, consider the following questions:

o What impacts, if any, will those changes have on the value creation, modus operandi and value capture elements of the firm’s existing business model?

o What individuals, groups or communities of interest will be affected by the changes you plan to make?

o What do you expect to be the nature of the general attitudes displayed by each of those stakeholders?

o What specific actions would you anticipate taking in order to ensure an appropriate and ethical response to stakeholder concerns about the proposed changes?

The Process of Change Management Models Sample Answer

Organisational Change Management Process

Introduction

Does the current rate of fast-paced technological advancement make organizational change inevitable? The current industries’ market is characterized by tough competition, speedy advancement of technologies which provide no other ways to industries but embrace new technological advancement in their production of products and services. The paper seeks to analyze the impact of organization organizational investing in new technologies to ensure continued survival.

Implementing the advice will have various impacts on the smooth running of the company, adapting the new technology will require funds. This will have an impact on the company financial position as lack of enough funds to implement the new technology will force the company to consider debt or equity financing. The change will also affect the workforce as the new technology will need employees with the relevant skills of using the new technology (Graetz & Smith 2010).

The Process of Change Management Models and Impact on the value creation, modus operandi and value capture elements.

Implementing the changes of investing in new technologies will have impact on the firm value creation. New technology will help company produce quality products which will create value to the customers. The changes will also have impact on the modus operandi of the firm; the production of quality products will improve the company relationship with the distributors and customers. Furthermore, the changes will also have impact on Vaan lue capture element of the firm, production of quality products will attract more demand from the market which will result to higher profit margin to the firm (CAVALCANTE 2014).

The Process of Change Management Models and Individuals, groups or communities of interest affected.

The changes of the firm will affect various stakeholders such as employees and shareholder. Implementation of the new technology will have a negative effect on some employees; the new technology will require employees with special skills which will render the employees not possessing such skills redundant. The change will also affect the shareholders, implementing the new technology will require funds where company will utilize the company profits hence reducing the sum of dividends to be apportioned to shareholders. On the other hand, the firm will opt to borrow loans from commercial banks which will reduce the shareholder dividend earnings the whole period the firm is repaying the loan (Whellan – Berry and Somerville 2010).

 What do you expect to be the nature of the general attitudes displayed by each of those stakeholders?

The change will have negative implications to employees and shareholders. As the new technology will require special skills employees who do not possess such skills would oppose the change as it would render them redundant. On the other hand shareholder would not buy the idea as its implementation would have a toll on their dividend earnings.

What specific actions would you anticipate taking in order to ensure an appropriate and ethical response to stakeholder concerns about the proposed changes?

Mayfield (2014) notes that when implementing a change stakeholder engagement and management is vital. Employees who do not possess the required skills the change manager should include training programs which will impart the employees the required skills needed in the new technology.

On the other hand, the change manager should finance the new technology through rights issue, right issue is where the company will raise the required capital through selling its shares to existing shareholders. The rights issue will increase the shareholder stake in the company which in the end will increase their dividends earnings (Brück et al. 2002).

The Process of Change Management Models Conclusion

With the fast paced technology advancement companies ought to implement changes to ensure continued survival. However, the change should identify key stakeholders to be affected and take into account their concerns. Addressing stakeholders concerns will aid in smooth implementation of the firm changes.

The Process of Change Management Models References

Brück, H.-J., Karl, Scholz, A. and Myers, M. (2002) The impact of Organisational change             management on the success of a product Lifecycle management implementation – an       investigation into the electronics manufacturing industry. Available at:            http://www.johnstark.com/hbrueck.pdf (Accessed: 25 August 2016)

CAVALCANTE, S.A. (2014) ‘DESIGNING BUSINESS MODEL CHANGE’, International     Journal of Innovation Management, 18(02), p. 1450018. doi:    10.1142/s1363919614500182

Graetz, F. & Smith, A.C.T. (2010) ‘Managing organizational change: a philosophies of change      approach’, Journal of Change Management, 10 (2), pp.135-154.

Mayfield, P. (2014) ‘Engaging with stakeholders is critical when leading change’, Industrial and Commercial Training, 46(2), pp. 68–72. doi: 10.1108/ict-10-2013-0064.

Whelan-Berry, K.S. & Somerville, K.A. (2010) ‘Linking change drivers and the organizational     change process – a review and synthesis’, Journal of Change Management, 10 (2), pp.175-193

Acute and Chronic Pain Management

Acute and Chronic Pain Management Order Instructions:  how are you today
Thank you so much for helping for this industry reflection assignment. The topic is mentioned in the topic.

Acute and Chronic Pain Management
Acute and Chronic Pain Management

• APA Referencing
• At least 20 genuine references from 2010 to 2016 study based,
• 90 % references have to be research-based Journal article AND books
• Australian and New Zealand based study articles are preferable.
• Please have a look Rubric guideline for a given topic, I need good grades in this assignment so please do me a favor and try to make a good reflection using

The 5Rs Framework for Reflection
You have to think about an incident related to pain and follow the rubric guideline, please.
Please use heading event (incident), action, result and subheading related to 5 R’s of reflection such as reporting, responding, relating, reasoning, reconstructing.

Assessment Task 1: Written Industry Reflection

All students are required to attend an interview when applying for a New Graduate Program or a Registered Nurse Position. As part of the interview process, you will be required to reflect on your past clinical experiences when answering interview questions. For this assessment task students are required to answer the following interview questions:

1. How would you handle a patient who constantly complains about pain?

Using the E.A.R (event, action, result) interview method and your reflective skills provide a written (800 word) summary to this question.

You are also required to refer to the criterion-referenced rubric on page 13 of the unit outline. This rubric will also form the basis of your feedback for this assessment item

The length and/or format: 800 words

Assessment criteria: The criterion-referenced rubric on page 13 of the unit outline should be used to guide your reflective writing. This rubric will also form the basis of your feedback for this assessment item.

Acute and Chronic Pain Management Sample Answer

Introduction

Acute and chronic pain management are essential facets of the treatment process and overall recovery process of the patient. If not properly assessed and handled, the physical, psychological and emotional well-being of the patient can be negatively affected by lowering the chances of complete, timely recovery. The benefits associated with pain management are accrued not only by the patient but also by the caregivers since they can offer medication quickly to the patient amongst other benefits (Dijk, FM, Vervoort, van Wijck, Kalkman, & Schuurmans, 2016).

Proper assessment of the patient in pain forms the cornerstone of optimal pain management. The success of the assessment will not only depend on the quality of the assessment tool, but also on the healthcare provider’s ability to focus the patient (Mcintyre et al., 2014; Joshi et al., 2014). Listening and a strong understanding of the patient’s pain is critical in knowing the cause of the problem and the best formula to handle the problem.  Following these guidelines firmly ensures that the patient is allowed access to the best level of pain relief mechanisms available (Dougherty, Lister, & West-Osam, 2014).

Event

Reporting

I have previously dealt with cases of patients in pain, with the most notable case dealing with a middle-aged man. Recently having undergone lung surgery, the patient was experiencing a considerable amount of pain, with difficulties in breathing. The patient did not report this and thus adequate treatment was not given. Proper clearance of the lungs was not possible due to dry coughing associated with severe pain. He thus developed pneumonia over time.

Action

Responding

In treating postoperative pain, various analgesics (e.g. acetaminophen, anti-inflammatory, non-steroidal, and opioids) can be prescribed (Henderson et al., 2013; Schug et al., 2016)). The desired effect and the patient’s pain scores dictate the choice of medication, as each drug has a differing mode of action. Improving pain control should not, in any case, jeopardize the safety of the patient. Unnecessary administration of opioids and overdosing should be avoided to reduce the possibilities potentially fatal respiratory depression, or increasing the patient discomfort (Dijk, 2015).

Reasoning

In the scenario mentioned above, I conversed with the patient with the aim of making him feel at ease and open up to his problem. With sympathy, I listened as he explained how the pain had started shortly after the surgery and grown steadily. Starting as the standard after-surgery pain, the pain had increased to a sharp stab in the chest. Coughing was minimal and easy in the first instance, but as the pain increased this had changed to a strained cough due to chest pain. After some assessments, I detected some symptoms of pneumonia in the patient.  After the chat, I assured him I would do my best to intervene and help control the developing condition and ease the associated pain (Twycross, 2013).

After the patient was reassured of the best care, I duly notified the doctor of the situation. Together with the doctor, we conducted an assessment of the patient to determine the levels of discomfort he was experiencing. This also assisted in identifying the best primary interventions that could be applied to alleviate the patient’s pain and discomfort. Opioids were administered to reduce the pain levels of the patient while other more efficient intervention methods took the course (Mettens, Goossens, Verbunt, Koke, & Smeets, 2013).

Relating

This case is similar to the one I had encountered. Since I am equipped with the excellent conversation skills and know-how of the medical field, my first action will be to identify the cause of the pain experienced by the patient. By being sympathetic and listening keenly to the patient, I will be able to decipher the type of discomfort the patient is in and the possible causes. Employing my knowledge in healthcare, I can be able to predict a treatment course that can be most effective in the short run if necessary.

Since the doctor is the one with the ability to prescribe the right medication, I will confer with the attending physician and notify them of the patient’s condition.  In a follow-up, I will then ensure that the patient’s pain is being managed in the right ways by the tasked personnel. Finally, I will take on to reassure the patient that they have the best medical care, and everything possible which can help their condition is being done to ease their pain (Abraham, 2014; Butow & Sharpe, 2013).

Result

Julian showed a great response to medication. After the intervention, the patient showed slow progression and after a period of one week, he no longer complained of the pain. I continued closely monitoring the patient to identify the possibility of further complications, but the patient seemed okay. The treatment for pneumonia was also effective in the condition easing ultimately. The relationship of Julian with the care providers also improved and was no longer reluctant to express how he was fairing medically.

Reconstructing

Nurses are especially important in the health care setting as they provide the much needed psychological care to the patient (Lrsson, Sahlsten, Segesten, & Plos, 2011). Apart from the medical service rendered to the patients, nurses also give verbal, and written advice given to the patients help in the overall patient recovery (Ontario Hospital Association, 2011).  This of great importance especially to patients that are newly diagnosed with terminal ailments and need constant care and attention facilitate the control of symptoms and progression of the disease (Caudill, 2016; Gifford, 2013). The close relation enables patients to better understand the facts of the illness based on facts and not the anecdotes and misinformation widely voiced by the public (Melanie, 2016).

Acute and Chronic Pain Management References

Abraham, J. L. (2014). A Physician’s Guide to Pain and Symptom Management in Cancer Patients (Vol. 3). Baltimore, Maryland.

Caudill, M. A. (2016). Managing Pain Before It Manages You (Vol. 4). New York, London: The Guilford Press.

Dijk, J. V. (2015). Measuring Postoperative Pain. Utrecht: CPI Wohrmann.

Dijk, V., FM, J., Vervoort, S., van Wijck, A. J., Kalkman, C. J., & Schuurmans, M. J. (2016). Postoperative patients’ perspectives on rating pain: a qualitative study. International journal of nursing studies, 53, 260-269.

Dougherty, L., Lister, S., & West-Osam, A. (2014, December 8). The Royal Maraden Manual of Clinical Nursing Procedures, 9, 9-30.

Lrsson, I. E., Sahlsten, M. J., Segesten, K., & Plos, K. A. (2011, February 20). Patients’ perceptions of nurses’ behavior that influence patient participation in nursing care: A critical incident study. Nursing Research and Practice,

Melanie, J. L. (2016). What is psychosocial care and how can nurses better provide it to adult oncology patients. Australian Journal of Advanced Nursing, 28(3), 62-66.

Mettens, V.-C., Goossens, M. E., Verbunt, J. A., Koke, A. J., & Smeets, R. J. (2013). Effects of nurse-led motivational interviewing of patients with chronic musculoskeletal pain in preparation for rehabilitation treatment (PREPARE) on societal participation, attendance level, and cost-effectiveness: study protocol for a randomized control. Trials Journal, 2-11.

Ontario Hospital Association. (2011). Leading Practices in Emergency Department Patient Experience.

Twycross, A. (2013, April 23). Nurses’ aims when managing pediatric postoperative pain: Is what they say the same as what they do? Pediatric Nursing, 19(1), 17-27.

Mcintyre, P. E., Schug, S. A., & Scott, D. A. (2014). Australian and New Zealand College of Anaesthetists: 2010 Acute Pain Management: Scientific Evidence. Melbourne, Australia: Australian and New Zealand College of Anaesthetists; 2010.

Joshi, G. P., Schug, S. A., & Kehlet, H. (2014). Procedure-specific pain management and outcome strategies. Best Practice & Research Clinical Anaesthesiology, 28(2), 191-201.

Hogg, M. N., Gibson, S., Helou, A., DeGabriele, J., & Farrell, M. J. (2012). Waiting in pain: a systematic investigation into the provision of persistent pain services in Australia. Med J Aust, 196(6), 386-90.

Joshi, G. P., Bonnet, F., & Kehlet, H. (2013). Evidence‐based postoperative pain management after laparoscopic colorectal surgery. Colorectal Disease, 15(2), 146-155.

Gifford, L. (2013). Topical Issues in Pain 5. Author House.

Butow, P., & Sharpe, L. (2013). The impact of communication on adherence in pain management. PAIN®, 154, S101-S107.

Henderson, J. V., Harrison, C. M., Britt, H. C., Bayram, C. F., & Miller, G. C. (2013). Prevalence, causes, severity, impact, and management of chronic pain in Australian general practice patients. Pain Medicine, 14(9), 1346-1361.

Schug, S. A., Palmer, G. M., Scott, D. A., Halliwell, R., & Trinca, J. (2016). Acute pain management: scientific evidence, 2015. The Medical journal of Australia, 204(8), 315-317.

Developing Quality Management Systems

Developing Quality Management Systems Order Instructions: please, this is my boy assignment, he doesn’t want to be identified. so please do it well.

Developing Quality Management Systems
Developing Quality Management Systems

it due before the 3rd, I need about 3 pages if possible.

Developing Quality Management Systems Sample Answer

Assignment 150

Introduction

Companies should develop and implement quality management systems which when integrated with other enterprise systems, focus on actionable decision-making, seek the root causes of business challenges, and improve systems and processes. The top management is meant to provide evidence of its dedication to the design and implementation of quality management systems and continually upgrading its efficiency in omitting all the possible errors (Evans & Lindsay, 2016). Inaccurate prescriptions develop because of errors made in the prescription process map. The paper herein discusses how the HMO pharmacy can mitigate prescription errors by analyzing the efficiency of their quality management systems.

Prescription-Filling Process Map

The prescription filling process begins from the point of patient consultation to identify the presenting condition by considering the chief complaint, signs, and symptoms evident in the patient. The process ends at the point of handing over the prescribed drugs to the patient for consumption. Documentation of patient care demands a collection of resources. An examination of the pharmacy practice area through inventory and the development of a process map will give insight into the resources available to eliminate errors in patient care (Ells & Sherman, 2013). Ells & Sherman (2013) also point out that for the manager to be able to monitor the current workflow from an objective perspective, one has to create a process map. The process map ensures efficient handling of prescriptions thus prevents occurrences of prescription errors.

Pyzdek & Keller (2014) state that the supplier, input, processes, outputs, and customers (SIPOC) model establishes the boundaries of any business process. The SIPOC model defines a process-driven approach that demarcates the beginning and end of a process. Suppliers and Resources mark the start of the process, whereas the outputs and customers show the end (Pyzdek & Keller, 2014). The model also serves as a cross-checking mechanism to ascertain compliance with business objectives. In this case, handling of prescriptions is the primary determinant of HMO’s staff’s ability to achieve adequate patient care. HMO’s pharmacy is experiencing a myriad of problems such as inaccurate prescriptions complaints and lawsuits. The management is reluctant to follow the right process of problem-solving saying it involves statistics which have an indirect effect on the presenting problem. The SIPOC model can cross-check prescriptions from the point of diagnosis till the patient is given the appropriate medicines as per the condition.

Developing Quality Management Systems and the Possible Main Causes of the Problem

The pharmacy in question is facing the problem of inaccurate prescriptions as presented in the complaints. Improper prescription writing can result from the incorrect recording of patient information, a mix-up of patient prescriptions, misdiagnosing the patient, prescribing wrong drugs for a particular condition, or assuming medical examinations which supplement the clinical diagnosis (Tabatabaei, 2014). Using the SIPOC model, resources such as the types of drugs available in the store can influence how the pharmacists prescribe. They could possibly manipulate the diagnosis to fit the drugs available in the pharmacy, thus wrong prescriptions. The output as per the SIPOC model could be adverse drug reactions experienced by the patient. These are common causes of false orders but are preventable through accurate and thorough prescription processing as outlined by Tabatabaei (2014).

Tools and Data for Problem-solving

Using an adverse drug reaction reporting program, patients can enter data pertaining their experience with particular drugs prescribed from the HMO pharmacy thus facilitating an easy way to assess the efficiency of prescription generation and handling (Maddison et al., 2009). The manager should develop standard operating procedures for quality management systems which are efficient in analyzing each step in the process map to eliminate any errors occurring at each step before reaching the patient.

Developing Quality Management Systems References Bottom of Form

Ells, A.W. & Sherman, J. (2013). Community and Clinical Pharmacy Services: A step by step Approach: A step by step approach. McGraw Hill Professional.Top of Form

Evans, J.R. & Lindsay, W.M. (2016). Managing for Quality and Performance Excellence-Business & Economics. Cengage Learning.

Maddison, J. E., Maddison, J. E., Page, S. W., & Church, D. B. (2009). Small animal clinical pharmacology. Edinburgh: Saunders/Elsevier.

Pyzdek, T., & Keller, P. A. (2014). The six sigma handbook (p. 25). McGraw-Hill Education. Top of Form

Tabatabaei, S. M. (2014). Designing a Structured Conceptual Model to Develop an Integrated Information System between a Hospital and a Pharmaceutical Company. Journal of Iranian Association of Medical Informatics1(1). Top of Form

Bottom of Form

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Management Research Proposal Proforma

Management Research Proposal Proforma Order Instructions: Please follow the following instructions exactly and try to modify what the instructor feedback:

Management Research Proposal Proforma
Management Research Proposal Proforma

1. Just for the first part! it needs to be really clear in your opening chapter, EXACTLY what it is you are going to be researching, and you have not yet focused down enough, or made clear, what this is. For example, there is existing literature about staff motivation. A common example is the work of Frederick Herzberg. Are you, for example, going to examine his work (which was mostly conducted amongst junior management and first line supervisors, in 1960s white America, at a time when America dominated world production), and compare his motivators and hygiene factors with the results of a similar survey amongst ex-pats or Qatari workers in Qatar? Or what, exactly? Sort out the issues.

2. Please answer all the instructor questions, thoughts and amendments. Have a look at these and fix them.

3. Please read the paper and correct all the mistakes.

4. All the references MUST be in Harvard style.

5. Please make sure that the total word does not exceed 3500 words.

Management Research Proposal Proforma SAMPLE ANSWER

 

MANAGEMENT DISSERTATION PROPOSAL PROFORMA

Chapter One:

Aim, objectives, and feasibility of the dissertation

1.0 Background Information:

Among the Gulf Cooperation Council members (GCC), Qatar is considered to have weathered the reduction in the global demand for petroleum products following the market glut. However, the 70 percent decline in global oil prices in 2015 has shaken the economy of the nation (Milmo, 2016, pp.38). This has resulted in the state running below its budget threshold into a budget deficit of close to $13 billion, a figure that is equivalent to 0.8% of the economy’s GDP.

For a developed economy such as that of Qatar, a relative dependence on oil and its products as inputs in the state’s industries are likely to result in the deplete in these prices, an aspect that would equally decrease the related input costs of this product (Milmo, 2016, pp.39). Qatar is considered to be a developed country, Although it has vast wealth due to its oil abundance, the economy is not widely diversified like that of developed nations, and on the Gini Index (The Gini coefficient is a number between 0 and 1, where 0 corresponds with perfect equality (where everyone has the same income) and 1 corresponds with perfect inequality (where one person has all the income—and everyone else has zero income) it has a score of 0.41, whereas developed countries tend to be around 0.3, so it still has a long way to go in getting the income of its population more equal (Byun, & Hollander, 2015, pp.156).

Apart from oil it lacks natural resources and has a climate that makes developing industry very difficult. Alternatively, the input costs are also likely to decrease thus decreasing the cost of production and unemployment rates of this state. Although the QR should have been vastly lowered following the slump in oil process, it is the ruling family’s and the Bank’s policy to peg the QR against the US Dollar at a rate of around 3.5 to the US$ – this means that imported goods for the oil industry will not fall in price, nor will the pay of expats, an aspect that will affect see the flooding of the product in the market (Oglend, et.al.pp.267).   As a result of the development of energy efficient policies for the last decades, the tendency towards the world has changed into the consumption of greener technology, an aspect that has decreased the consumption of oil. Production output has additionally decreased as Saudi Arabia is trying to make the US move to shale oil gas uneconomic. According to Jaffe, & Elass, 2015:

Saudi Arabia’s efforts are aimed at buying oil in large quantities from OPEC, but this has so far not worked and none of the other OPEC members have lowered their production output. Jaffe estimates that there are economies around the world that have the equivalent amount of oil to meet that country’s demand for three years out of its average reserves.  This hardly indicates that we are decreasing demand – and mainly fuelled by SE Asia, demand is still expected to rise well into the 2020s (pp.17)

According to existing literature, more focus has initially been turned towards the relationship between internal and external factors that affect the performance of employees within oil and gas companies in well-developed states such as Qatar, especially in the wake of price drops, a factor that this research study aims to establish. This study is of interest primarily because it seeks to establish some of the challenges faced by employees within the oil dependent economies, an aspect that would determine approaches of solving such issues (Oglend, et.al.pp.267). The insights gained from this study will, therefore, be employed in management with the aim of enhancing the managerial practices directed towards enhancing the performance of employees.

The study is significantly tied to the concept of human resource management and the theory of employee performance is critically studied to contract their relevance to the functions of an organization amidst oil and gas price drops. These theories will address the essence of HRM functions and their need in enhancing the performance of employees within the oil and gas industries in Qatar.

Aims of the Study

It is essential to determine that the performance of employees within an organization departmental, managerial and leadership levels impact the goals of such organizations positively or negatively. In this case, the performance of employees can be affected by several elements in a work environment. This study therefore aims at drawing focus on some of the internal and external challenges the employees working in oil and gas company experience especially when the deplete in oil prices hit an economy such as Qatar. The study will alternatively detail some of the variables affecting the performance of employees both internally and externally.

Management Research Proposal Proforma Research Question

  1. What are the internal factors that affect the performance of employees within oil and gas companies within well-developed states such as Qatar in the rise of oil price drops?
  2. What are the external factors that affect the performance of employees within oil and gas companies undeveloped states as a result of the rise of oil price drops?
  3. What are the approaches that can be employed in solving the internal and external factors that affect the performance of employees in these companies as a result of drops in oil prices?

Research Objectives

The primary objectives of this study include:

  1. Establish the internal and external factors that impact employee performance in oil and gas companies in the state of Qatar following the drop in oil prices.
  2. Establish appropriate recommendations and conclusions that identify approaches of solving the negative impacts of these factors on the performance of employees within organizations in Qatar.

The Feasibility of the Study

In meeting the objective of this study, a culmination of the necessary resources required has been achieved. The study will gain access to the requisite data by collecting information from other research respondents through a survey and questionnaire that will be distributed to 200 respondents that have worked in the gas and oil industries in Qatar.

The survey and questionnaire will be distributed online to enhance the process of data collection. A consent letter has been granted from our organization that permits this study with a similar developed to provide to the respondents in getting their consent to conduct this study. The respondents of this study have shown a willingness by accepting to engage in the study that will be conducted within a timeframe of 7 months.

Management Research Proposal Proforma Literature Review

After the decision of GCC in 2014 not to cut the production of oil following the drop in oil prices, the cost of a barrel of oil has significantly fallen to its lowest since 2015. According to Malmo (2016), the drop in oil prices in this case affects the economy of this state since the stock markets around the world are significantly affected by these drops (pp.38). The decrease in oil prices in Qatar was brought about by several factors that include: GCC’s changing policy objectives, the increasing decline in global oil product demands, and an increase in oil production among other economies. Additionally, the decrease in GCC’s geopolitical concerns that appertain to supply disruptions in other countries that depend on oil from Qatar is also another challenge that result attributed to the drop in oil prices.

Krane (2015) on the other hand supports the views of Milmo (2016) by stating that in as much as several importing counties have immensely benefited from the drops in oil prices, the effects and impacts of these price drops may not be positive worldwide (pp.16). This can be depicted in the fact that some of the leading oil producing states such as Qatar struggle in maintaining their economy and stability as a result of declines in oil revenues(‘United Arab Emirates Oil & Gas Report’ 2015, pp.110). As a result of the destabilizing effects that result from a drop in oil prices, serious implications for companies and their workforce are considered to be immense.

Smead (2015), states that a decrease in oil prices has the capacity to significantly strengthen the dollar, a factor that would affect other corresponding currency of Qatar as a result of the state’s dependence on commodity exports (pp.85). As a result of oil drops to a state’s financial assets to oil, widespread default on companies are likely to be experienced. This is attributed to the fact that the precipitation of financial contagion may result to instabilities in such organizations.

However, Marais (2016) contrasts to the views of other authors since he alleges that Qatar significantly seems to be immune to the effects of price drops in its oil products. According to this author, the economic performance of Qatar is still strong even with the drop in oil prices, an aspect that is attributed to the state’s expansion in other entities such as the non-hydrocarbon industry (‘Qatar Oil & Gas Report’ 2015, pp.65). This industry is considered to drive the state’s economic momentum, thus propelling the spending made on investments. On the other hand, Breunig, & Tse Chern, (2015) also points to Qatar’s construction and banking industries as robust in recording the state’s economic growth (pp.114).

Webb, Jeffrey, & Schulz (2011) points out to the fact that employees are the organizations resource and need to be properly compensated in order to achieve the goals of an organization. As detailed initially, the development of the HRM approach is vitally based on approaches aimed at utilizing people and treating them as resources in order to realize an organizations objectives (pp.212). This clearly denotes the functional role of HRM within these organizations, an effort directed towards initiating high performance work systems. This aspect consequently entails linking the workforce in different departments within an organization. Thus, oil and gas companies incorporate the use of effective HRM systems to increase their competitive nature through an investment in employee development.

The concept of employee performance is on the other hand associated with the workforce’s ability to achieve quality in relation to output, the presence of employees on the job, the timeliness of the output, and the effectiveness of the work completed Fedor, & Rensvold, (2012) states that an efficient leadership style has a bearing that encourages employee performance (pp.790). On the other hand, Lin (2011) states and supports the views of this author by asserting that employee performance involves the successful completion of duties and responsibilities as developed by the supervisors of an organization (pp.895).  In this case, the performance of employees according to these authors may be considered in the perspective of three elements that enables them to perform better, with the determinacy of their performance considered as wholly dependent on their declarative knowledge, motivations and procedural knowledge. In short, it is essential to establish that efficient HR practices have a positive impact on the performance of employees within an organization.

As a result of the drops in oil prices in Qatar, Das, Smith, Hennigan, & Yeager (2013) notes that there are five internal human resource management practices that affect the performance of employees. This consequently includes organizations efforts directed towards eliminating recruitment packages and competitive compensation levels, the elimination of training and development, including personal appraisals and the layoff of staff members with the aim of stabilizing the functions of these organizations (pp.52). In this case, organizations are forced to restructure their systems and functions during such periods in order to remain competitive in the market as stated by Hu, & Kaplan, (2015):

The sharp decline in oil prices has tipped several companies into recession, an aspect that has slumped investment levels within the oil and gas industry. Several employees have been laid off as a result of this slump, thus affecting the functions of HRM within the organizations. In this journal, the author suggestively points out that the layoffs of employees within this sector, thus affecting the production of goods and services within these projects such as oil and gas ripping services, engineering and construction services (pp.125).

The crush in oil prices has seen employees in organizations in the state of Qatar experience external issues that impact their performance. Jaffe, & Elass, (2015) purports that the drop in oil prices has seen the cancellation of a series of projects within the energy companies proposals, a factor that has resulted in job cuts. Several expatriates have also left Qatar for holidays and letting their families stay at home. According to this author, these results from the outcome of these companies’ efforts aimed at establishing the right sizing of their organizations human resources (pp.125). Oil companies in this region have therefore taken steps in downsizing and cancelling their projects as an approach of cushioning the workforce on the impact of the falling oil prices. Hu, & Kaplan (2015) supports the views of this author by pointing out to several companies in Qatar denounced the renewal of their contracts with other companies such that the European energy company since these companies are not sure whether they would get enough projects to supplement the needs of its employees.

In addition to this, the depression in oil prices has also seen oilfield service companies and their sub-contractors suffer from some of the huge drop in their organizational activities, thus impacting the performance of employees. Instances of reductions in spending on staffs on pertinent activities such as training and development, motivation and empowerment have been ripped off by organizations as a result of low incomes received by these companies (Salehi, Save, Nel, & Almquist, 2015, pp.47). The drops in oil prices have also seen several employees in companies dealing in oil and gas encounter an increase in financial pressures. This results from the swelling prices of products and services within the Emirates economy of this nation, an aspect that has affected these employees immensely. As a result of the scope of staff cuts, the citizens of Qatar working in these companies have been rendered jobless, thus their survival has turned out to be challenging.

The low levels of oil prices are likely to result in a new market equilibrium that is depicted to last longer as compared to the short-term price limitations that occurred in 2008-2009. As a result of this current situation, all the net oil exporters in Qatar are predicted to face challenges in adjusting to the macro-and microeconomic factors, an element that affects several oil producing companies and their employees.

Qatar primary depends on oil for several purposes that include planting its fields, powering cars, operating some of its oil-powered irrigation systems and to be used as raw materials in the production of different products that include fabrics and medicines (Kilian, & Lewis, 2011, pp.1048). Several industries have therefore been developed that produce products that are consumed by the population in this nation, an aspect that has seen the employment of several workers from the country.

When the prices of oil are low, the production of several products in considered to decline, thus leading to a series of secondary effects such as job looses, debt defaults as a result of deflation, the loss of letters of credit that are required by exporters and the decline in oil exporters (Kilian, & Lewis, 2011, pp.1049). The low oil price makes it more challenging for drillers to repay their loans that are taken to enhance the process. These results in lower cash flows and interest rates on some of the new loans that is consequently higher thus affecting different individuals who would require loans from banks.

Once the deplete in oil prices are experienced in states such as Qatar, the prices of different commodities also fall to levels that make different products available for consumers, an element that cuts down the shares of production on different commodities(Kilian, & Vigfusson, 2011, pp.336). When the production of commodities drops and prices are fixed on the concept of affordability, an aspect that cuts back on several aspects such as housing, food, and cars, thus impacting the employees of different organizations is experienced.

Research Methodology and Methods

This study will therefore use the interpretivism approach as an epistemological stance that believed in reality as relative and multifaceted. The knowledge acquired from this study is socially constructed with the aim of developing an understanding and interpretation of the factors that affect the performance of employees in oil and gas companies rather than a generalized cause and effect. The study is consequently open to new knowledge that aims to develop it further with the help of informants.

This study will use the quantitative research method in analyzing and establishing some of the factors that affect the performance of employees in oil and gas companies in the state of Qatar following the drop in oil prices. The qualitative research method will therefore give an explanation of these phenomena through the collection of numerical data that will be analyzed through a mathematical method in particular reference to statistics (Ngulube, 2015, pp.130).

For the primary purpose of this study, the performance of employees will be gagged as a dependent variable while the factors that affect their performance viewed as independent variables.

To address the studies objective, the research will use questionnaires in the collection of data. Questionnaires are considered as the primary source that aids in obtaining data for a research endeavor.  In view of this, the research will design an efficient questionnaire that is valid, unambiguous and reliable (Ngulube, 2015, pp.130). The study will therefore make use of a series of questions that will be developed to find out the required information that will be filled by the participants. The participants will fill these questionnaires either through written forms or through an online survey that will allow the respondents to answer the research questions.

In order to improve the validity of the data that will control the respondent’s answers as detailed in the research questions and objectives, the study will make use of a high-structured questionnaire. It is essential to establish that the culture of employees in Qatar depicts the hesitation of people in expressing their views, feelings, assessments, or their advice in a straightforward manner (Ngulube, 2015, pp.130). However, through the use of questionnaires, the element of anonymity on all the respondent of the study will be considered since the information of the participants will be confidential. This will allow the respondents to feel free in giving their views honestly, an aspect that will establish the reliability of collected data.

In consideration of this research approach, the collection of relevant data will depend upon the choice of the right respondents within several organizations. The research will therefore issue 200 questionnaires to the respondents and employees of these companies within this research area (Ngulube, 2015, pp.130). Data collection will primarily be done by taking into account the organizations involved in the study, with a population of 200 employees targeted within the oil and gas industry in Qatar. On the other hand, the survey will use close-ended questionnaires that will be designed to aid data collection. The questionnaire will be designed through the formulation of close ended questions that will maximize the margins in establishing the factors that impact the performance of employees in these companies.

Key Findings of the Research Study

As detailed in the findings of this study, it has been established that employees remain of significance within the functions of an organization and need to be adequately compensated in order to achieve the goals of an organization (Das, Smith, Hennigan & Yeager, 2013, pp.54). According to the findings of this study, the HRM functions contribute to high performances within the work environment, an element that can be achieved when the functions of HRM are incorporated within an organization. In this case, oil and gas companies use HRM functions and systems with the aim of improving their competitive nature, an aspect that can be achieved when investments are made on the development of employees.

However, the drop in oil prices has been noted as significant in affecting the manner in which organizations dispense their HRM functions. The study established that some of the internal factors that affect the performances of employees within oil and gas industries. These factors include the efforts of these organizations to eliminate recruitment packages and competitive compensations, training and development, job cuts and personal appraisals with the aim of right sizing organizations (Das, et.al.pp.54, 2013). Organizations are in this case forced to structure their functions by limiting the activities of HRM in order to stabilize during such economic period.

On the other hand, the study established that there are external factors that also affect the performance of employees within oil and gas industries in Qatar. The drop in oil prices has resulted in the cancellation of several projects within energy industries, an aspect that has resulted in heavy job cuts thus affecting different employees and their families(Das, Smith, et.al.pp.54, 2013). Efforts of companies to downsize their employees have resulted in unemployment, an aspect that has affected the economy of this state. On the other hand, a huge drop in the activities of organizations has been experienced as a result of these price drops, an aspect that has ripped off the element of motivation and empowerment of employees due to the low income levels achieved.

Recommendations and Conclusions

Qatar is considered to have weathered the reduction of the global demand for petroleum products following the markets glut. For a developed economy such as that of Qatar, a relative dependence on oil and its products as inputs in the state’s industries are likely to result in the reduction of oil product prices, an aspect that would equally decrease the related input costs of this product. It is therefore significant for the emirate economy to consider diverting its attention to other industries such as the infrastructural development industry and the construction industry in stemming the impact of price fluctuations in the oil industry. On the other hand, organizations and companies operating within the oil and gas industry need to establish the need to invest in other activities and markets, also taking into consideration the essence of HRM practices in elevating the performance of employees.

4.     Timing mileposts

 

Milestone

Description

Due date

Remarks

1 Stage 1: Area of interest identified
2 Stage 2: Specific topic selected
3 Stage 3: Topic refined to develop dissertation proposal
4 Stage 4: Proposal written and submitted
5 Stage 5: Collection of data and information
6 Stage 6: Analysis and interpretation of the collected data/information
7 Stage 7: Writing up
8 Stage 8: Final draft prepared— submission of the dissertation
9 Final Deadline—9 months from module start date.
 Management Research Proposal Proforma References

 Breunig, R, & Tse Chern, C 2015, ‘Sovereign Ratings and Oil-Exporting Countries: The Effect of High Oil Prices on Ratings’, International Review Of Finance, 15, 1, pp. 113-138, Business Source Complete, EBSCOhost, viewed 3 July 2016.

Byun, C, & Hollander, E 2015, ‘Explaining the Intensity of the Arab Spring’, DOMES: Digest of Middle East Studies, 24, 1, pp. 26-46, Academic Search Premier, EBSCOhost, viewed 15 July 2016.

Das, B, Smith, D, Hennigan, J, & Yeager, R 2013, ‘Situational Factors Affecting Performance-rating Ability’, International Journal Of Operations & Production Management, 13, 3, pp. 49-56, Business Source Complete, EBSCOhost, viewed 3 July 2016.

Fedor, D, & Rensvold, R 2012, ‘An Investigation Of Factors Expected To Affect Feedback Seeking: A Longitudinal Field Study’, Personnel Psychology, 45, 4, pp. 779-805, Business Source Complete, EBSCOhost, viewed 3 July 2016.

Hu, X, & Kaplan, S 2015, ‘The Effects of Unconsciously Derived Affect on Task Satisfaction and Performance’, Journal Of Business & Psychology, 30, 1, pp. 119-135, Business Source Complete, EBSCOhost, viewed 3 July 2016.

Jaffe, A, & Elass, J 2015, ‘WAR AND THE OIL PRICE CYCLE’, Journal Of International Affairs, 69, 1, pp. 121-137, Academic Search Premier, EBSCOhost, viewed 3 July 2016.

Kilian, L. & Lewis, L.T., 2011. “Does the Fed Respond to Oil Price Shocks?” Economic Journal, Royal Economic Society, vol. 121(555): 1047-1072.

Kilian, L. & Vigfusson, R. J., 2011. “Nonlinearities in the Oil Price–Output Relationship,” Macroeconomic Dynamics, Cambridge University Press, vol. 15(S3): 337-363.

Krane, J 2015, ‘Stability versus Sustainability: Energy Policy in the Gulf Monarchies’, Energy Journal, 36, 4, pp. 1-21, Academic Search Premier, EBSCOhost, viewed 3 July 2016.

Kulkarni, P 2015, ‘With the industry facing low crude oil prices for the foreseeable future, the Middle East and North Africa (MENA) region remains an oasis of increasing oilfield activity, due to minimal lifting costs’, World Oil, 236, 10, pp. 80-86, Business Source Complete, EBSCOhost, viewed 3 July 2016.

Lin, W 2011, ‘Relevant factors that affect service recovery performance’, Service Industries Journal, 30, 6, pp. 891-910, Hospitality & Tourism Complete, EBSCOhost, viewed 3 July 2016.

Marais, J 2016, ‘Oil: What the slump tells us about the global economy. (cover story)’, Finweek, pp. 28-31, Business Source Complete, EBSCOhost, viewed 3 July 2016.

Milmo, S 2016, ‘Oil Dips, Prospects Rise? With oil prices low, what does the future hold for the global petrochemicals industry?’, TCE: The Chemical Engineer, 897, pp. 35-37, Academic Search Premier, EBSCOhost, viewed 3 July 2016.

Ngulube, P 2015, ‘Trends in Research Methodological Procedures Used in Knowledge Management Studies’, African Journal Of Library, Archives & Information Science, 25, 2, pp. 125-143, Academic Search Premier, EBSCOhost, viewed 3 July 2016.

Oglend, A, Lindbäck, M, & Osmundsen, P 2015, ‘Shale Gas Boom Affecting the Relationship Between LPG and Oil Prices’, Energy Journal, 36, 4, pp. 265-286, Academic Search Premier, EBSCOhost, viewed 15 July 2016.

‘Qatar Oil & Gas Report’ 2015, Qatar Oil & Gas Report, 1, pp. 1-121, Business Source Complete, EBSCOhost, viewed 3 July 2016.

Salehi, E, Save, S, Nel, W, & Almquist, G 2015, ‘Improve economics with GTL integration into oil sands operations’, Hydrocarbon Processing, pp. 41-44, Academic Search Premier, EBSCOhost, viewed 3 July 2016.

Smead, RG 2015, ‘Natural Gas Market Movement and Enforcement Risk’, Natural Gas & Electricity, 31, 12, pp. 15-19, Business Source Complete, EBSCOhost, viewed 3 July 2016.

‘United Arab Emirates Oil & Gas Report’ 2015, UAE Oil & Gas Report, 4, pp. 1-125, Business Source Complete, EBSCOhost, viewed 3 July 2016.

Webb, A, Jeffrey, S, & Schulz, A 2011, ‘Factors Affecting Goal Difficulty and Performance When Employees Select Their Own Performance Goals: Evidence from the Field’, Journal Of Management Accounting Research, 22, pp. 209-232, Business Source Complete, EBSCOhost, viewed 3 July 2016.

Strategic Management and Competitiveness

Strategic Management and Competitiveness Order Instructions: Assignment 1: Strategic Management and Strategic Competitiveness
worth 300 points

Strategic Management and Competitiveness
Strategic Management and Competitiveness

Choose one (1) public corporation in an industry with which you are familiar. Research the company on its own Website, the public filings on the Securities and Exchange Commission EDGAR database (http://www.sec.gov/edgar.shtml), in the University’s online databases, and any other sources you can find. The annual report will often provide insights that can help address some of these questions.

Write a four to six (4-6) page paper in which you:
1. Assess how globalization and technology changes have impacted the corporation you researched.
2. Apply the industrial organization model and the resource-based model to determine how your corporation could earn above-average returns.
3. Assess how the vision statement and mission statement of the corporation influence its overall success.
4. Evaluate how each category of stakeholder impacts the overall success of this corporation.
5. Use at least two (2) quality references. Note: Wikipedia and other Websites do not quality as academic resources.

Strategic Management and Competitiveness Assignment Requirements

Your assignment must follow these formatting requirements:
• 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:
• Determine ways in which the vision, mission, and stakeholders of a firm impact that firm’s overall success.
• Use technology and information resources to research issues in business administration.
• Write clearly and concisely about business administration using proper writing mechanics.

Strategic Management and Competitiveness Sample Answer

Strategic Management and Strategic Competitiveness

Introduction

Samsung, a South Korean company has grown tremendously over the years to become a leader in technology across the globe. The Company which was founded in 1938 is mostly known for its presence in two major markets namely, electronic appliances and mobile phone technology, but also has businesses in insurance, heavy industries, apparel, telecommunications, construction and hospitality among others. Like any other company operating in the technology market, Samsung faces stiff competition, with major competitors being Apple, Nokia, Blackberry, LG and Sony among others.

This paper is a discussion of Samsung, to establish how it has been influenced by globalization and technology changes; determine how the company can achieve greater returns through applying the resource-based model and the industrial organization model; and assess the impact of its vision, mission and stakeholders on its overall success.

Discussion

Impact of Globalization and Technology Advancements and Strategic Management and Competitiveness

Globalization has revolutionized the world by ensuring that the world is interconnected and borderless. Individuals, goods and information can easily move from one part of the world to another. In this relation, this has impacted Samsung’s operations in a significant manner. The first impact is that the company now has a wider market and can consequently make greater profits than before. This can be attributed to the increased ease in communication, reduced trade barriers and advancement of nations; thus promoting the demand for the company’s products. Johnson et al (2014), notes that with globalization, it is now easier to buy and sell products across the globe because of enhanced transport systems, communication and advancement of free trade. The increased global reach ensures that Samsung can make excellent returns, which has helped the company grow immensely in terms of size and profitability. The second impact is that Samsung can access supplies globally, such that it can source from the most competitive suppliers and also obtain materials that are not available where it operates. The third impact is that Samsung can now collaborate, acquire and merge with companies from all over the world to promote business.

Globalization means that Samsung must be in a position to serve customers from diverse cultural and national backgrounds. This in essence means that Samsung has had to develop products that are customized to meet demands of different customers across the world. In order to achieve this, Samsung conducts continuous research in markets that it operates in, so as to understand how people use and approach technology use. As opposed to developing products that are universal, Samsung aims at addressing the needs of different customers by understanding their environment and striving to meet local needs (Samsung, 2013). This is known as product localization and is considered one of the most important strategies for Samsung in achieving success. Having observed the constant power outages in Africa for example, Samsung developed the SafeSurge TV whose resistant capacity ensures that TVs are protected from power fluctuations (Samsung, 2013).

Technology advancement continues to challenge technology-based organization due to the fast pace at which it is progressing. In this relation, Samsung must invest heavily on technology in order to ensure that it remains ahead of competition. This has been particularly evident in the mobile phone business where newer versions with sophisticated technology continue to emerge in the market. This is further amplified by customer demand for high level technology devices, such that Samsung must keep developing newer versions to satiate them. Furthermore, Samsung has to compete with other players in the market to develop the best technology to attract clients.

Technology has however played a significant role in the company’s growth. As individuals increasingly gain access to the internet for example, the demand for smart phones has risen significantly. The advent of social media has also led to an increase in the demand for smart phones. In terms of appliances, enhanced technology leads to the production of more efficient appliances that are desired by customers. This has led to increased profitability for the company.

Influence of Vision and Mission for Strategic Management and Competitiveness

The vision and mission influence a company’s performance in a significant manner by providing strategic direction. At Samsung, the company aims at providing customers with the most innovative technology by following their vision 2020, “Inspire the World, Create the Future” (samsung.com). Through this vision, Samsung works towards developing new technology to ensure that it provides customers with innovative products. This vision also encompasses other stakeholders including partners, employees and the industry, with aim of promoting new value to them. Based on the set vision, Samsung intends to explore other areas of operations, which is bound to enhance its performance.

Through the years, Samsung has sought to ensure that it provides customers with only the highest level of quality. It is apparent that the demand for Samsung products has gone up due to its increased commitment towards innovation. Its commitment to empowering employees has also played an imperative role in promoting performance. In addition, Samsung is more committed towards creating partnerships to advance resource sharing and collaboration.

Applying the industrial organization model and the resource-based model

Samsung currently possesses great potential and capabilities to achieve above average returns. This can be actualized by applying the industrial organization model which focuses on the external approach and the resource-based model which takes on an internal focus. In order to earn above average returns, Samsung needs to follow the following recommendations.

The company should aim at achieving synergy among its most valuable resources in order to enhance performance. This can be achieved through various ways as follows. Firstly, optimization of technological strength, to ensure that the company develops new and innovative products, will set it above competitors. Secondly, Samsung should take advantage of its well-known brand to market its products existing and new products and thus enhance profitability. Thirdly, based on its high profitability, Samsung could expand the company into more countries through acquisitions and also develop new products to meet new market needs. Fourthly, Samsung should leverage the strengths possessed by employees and management to further enhance product quality. The company should further come up with strategies to retain its valuable talents through investing in employee relations and empowerment. (Lynch, 2012)

Continuous investment in technology cannot be underestimated if Samsung is to remain an industry leader. In this regard, the company, which already boasts of high level technology as a major capability must continuously invest in research and development to enhance technology. The main aim should be to ensure that the technology is unique, non-substitutable and difficult to imitate. Increased research and development is necessary to ensure sustainable innovation and thus ensure that the company remains competitive.

Samsung should develop effective employee retention strategies to ensure that the company performs exceptionally. This means nurturing talent that will ensure that this is achieved, through selective recruitment processes that ensure that only highly qualified and experienced employees are hired. Continuous employee empowerment will also ensure that staff are committed towards promoting technological advancement. It will also reduce loss of employees to competitors as evidenced in the transfer of resources among firms under both the I/O model and resource-based model.

Stakeholder impact on success for Strategic Management and Competitiveness

Customers are vital contributors or organizational success, given that the overall objective of the business is to make products that appeal to customers and thus gain profitability. Through purchasing the Samsung’s products and services, customers contribute to the company’s success by providing a market. Secondly, customers play the role of providing market information necessary for better product development. Through customer feedback, market research and spending patterns among consumers, Samsung is able to determine what customers want and thus towards developing products that serve their needs (Lynch, 2013). Feedback from users also helps the company to correct any faults that may exist in their products and also develop better products to satisfy customer needs and compete effectively.

Employees at Samsung contribute significantly to the company’s success and are to a great extent considered the most important asset. It is through its highly qualified employees that the company is able to achieve great results in technology research and development, production, operations and marketing. Employees can thus be considered as being the organization’s pillar and major contributors of success. In this relation, Samsung invests in employee empowerment. Employees bring in valuable skills and knowledge necessary for business strategy implementation.

Suppliers determine the overall input costs and also influence the effectiveness and quality of products. Through its suppliers, Samsung is able to access high quality raw materials and services necessary to develop its products.  This ensures that Samsung develops high quality and reliable products for its customers, thus enhancing its profitability. Samsung emphasizes reliability when sourcing for suppliers. Consequently, timely delivery by suppliers also ensures that the company is capable of developing its products within the required time plans. Samsung also takes advantage of economies of scale to get products at low prices, thus reducing its product costs significantly. Therefore, suppliers play an important role in Samsung’s performance.

Competitors influence the company both positively and negatively. On the positive side, competitors act as motivation for Samsung in a bid to remain competitive. By observing competitor performance, the company can work towards developing better products. Secondly, the company can use competitors for benchmarking, in order to promote its performance. On the negative side, competitors reduce the company’s market share and thus influence its profitability. Given that Samsung must keep up with competitors in order to attract customers, it ends up spending significant amounts on research and development, thus impacting profitability (Johnson et al, 2014).

Strategic Management and Competitiveness Conclusion

Business success is influenced by various factors existing in the company environment including technology changes, globalization, customer demand and preferences, and internal factors. This paper effectively demonstrates how Samsung’s business and performance is influenced by various factors and how the company can enhance its capabilities to earn higher than average returns. Through investing in research and development, empowering employees and leveraging its major strengths, Samsung will continue being an industry leader in the technology sector.

Strategic Management and Competitiveness References

Johnson et al. (2014). Exploring Strategy: text and cases. 10th edn, London, Pearson.

Lynch, R. (2012). Strategic Management, 6th Ed, London: Prentice Hall

Samsung. (2013). Samsung Designs Globally and Adapts Locally for Worldwide Success.

Retrieved from https://news.samsung.com/global/samsung-designs-globally-and-adapts-locally-for-worldwide-success

 

Innovation and Risk Management

Innovation and Risk Management Order Instructions: Assignment Task
As a consultant for an international innovative organization of your choice, you have been tasked with producing a strategic growth report for your chosen organization as they embark on a growth strategy and are considering introducing a new product to their product portfolio in order to be more competitive in the market.

Innovation and Risk Management
Innovation and Risk Management

Within this report, you are expected to demonstrate how your chosen international organization qualifies as ‘innovative’. In addition to this, you are to critically analyze the main components of the New Product Development (NPD) process and recommend ways by which it can be integrated into your strategic growth report.
Total Marks for Assignment: 100

Explanatory comments on the assessment criteria
Knowledge and Research (content, relevance, and originality)
A clear demonstration of rigorous research from recognized authoritative sources. Audience focus. Meeting the deliverables (35%)

Writing and Presentation (format, references or bibliography, and style)
Rigorous use of the Harvard Methodology for citation and referencing; page numbering; correct display of direct quotations. (10%)

Argument and Analysis (Critical analysis, evaluation, and application)
Constructive critical analysis, introduction, conclusion. Demonstration of a clear understanding of the issues. Use of academic models. Full articulation of ideas developed. Offering well-argued solutions and/or alternatives if and where appropriate. (55%)

format is report

Innovation and Risk Management Sample Answer

Introduction

The increasing level of competition in the contemporary world calls for companies to invest highly in strategies such as innovation in order to a niche for themselves. Innovation has been acclaimed for its contribution to business growth and performance, based on the utilization of new and unique ideas that set an organization apart from competitors. Since 1856 when Burberry Group Inc. was formed, the company has been at the vanguard of the fashion industry; outshining its peers to become among the most noteworthy names in the industry. This can be attributed to its commitment to excellence, but most importantly, its innovative nature that has seen the company provide customers with the trendiest products.

As the company embarks on a growth strategy that will ultimately lead to the improvement of the company’s product portfolio through the introduction of a new product, there is need to understand the company’s current position. This strategic growth report will demonstrate how the company is performing in terms of innovation, how Burberry has managed to achieve innovation and describe the new product development process components. It will also offer recommendations on how new product development can be integrated into the strategic growth report.

What constitutes an innovative company?

Preceding research indicates that a company’s competitive advantage is synonymous with its level of innovation, meaning that any organization that seeks to succeed in a competitive environment must consider innovation as a mandatory strategy (Radomska & Sołoducho-Pelc, 2015, p. 107). Innovation is explained as the process of developing new and unique ideas, methods or products; and provision of new solutions to meet unarticulated needs (Agarwal et al, 2014, p. 5). In order to be considered highly innovative, a company’s processes, resources, products or services must solve an existing problem, be unique and inimitable (Chew, 2012, p. 2-4).

Innovation may take various forms including linear and flexible innovation models. Linear innovation involves executing innovation in phases, such that one phase must be complete before the other one can be commenced, in order to minimize risk. Under linear innovation, there is the technology push model which involves innovation based on the emergence of new technology; and market pull model, where the user needs or market forces influence innovation (Pantano & Viassone, 2014, p. 44-45). In both models, the process is sequential and involves conducting research, idea generation, research, development and test marketing, with each being completed at its own time. Flexible innovation, on the other hand, may be influenced by different forces and not necessarily market or technology based. The innovation phases may be executed concurrently and do not follow any order.

In order for a company to be deemed as being innovative, it must exhibit the following characteristics:

A clear vision and mission denote among the most important characteristic of an innovative company. The vision and mission guide the company and its employees on the ultimate goals of the organization. This plays a role in promoting innovation as the organization works towards achieving set goals.

The leadership in a company matters where innovation is concerned. This is because the leader plays an imperative role in providing guidance and instilling values that drive innovation within the company.

An open supportive environment is an important aspect when it comes to innovation. Highly innovative companies, promote an open environment in which people are free to suggest ideas, no matter how simple they may be. An informal environment that promotes brainstorming and discussion of valuable ideas is promoted.

An innovative firm maintains a highly qualified and diverse workforce in order to maximize the chances of success. Each of these individuals brings in unique skills and capabilities; and different talents and mindsets necessary in enhancing innovation (IBM, 2016). To enhance this, the company must set innovation as a required capability during the hiring process and performance review process.

Teamwork and inclusion play a vital role in enhancing innovation. Therefore, truly innovative companies value their employees and are open to ideas that they may have regarding product development, process changes and organizational growth (Andries & Czarnitzki, 2014, p. 22-23). Through team collaboration, great ideas are developed, thus making room for innovation.

An innovative company is one that clearly understands its business environment including the strengths of competitors; who their customers are and their needs; new market trends and changes in customer needs; and what strategies competitors are taking to fulfill them (Radomska & Sołoducho-Pelc, 2015, p. 100).

An innovative company constantly engages its customers and is open to suggestions and input from customers. This means that besides the usual customer surveys, constant interaction with customers is encouraged to promote need identification and obtain new ideas in the development of new products (Grant, 2016).

Lastly, innovative companies accept failure as part of the learning process. Successful innovation is desirable, but failure is also an opportunity to learn and improve organizational strengths for sustainable innovation.

Burberry as an innovative company and Innovation and Risk Management

Burberry is a fashion icon, having managed to build its brand name over the decades. However, it is its innovation efforts that have been instrumental in the company’s growth. This ranges from the development of unique products to innovative use of technology to reach out to its customers and enhance its brand. Based on the discussion on what constitutes an innovative company, Burberry’s achievements in terms of innovation can be described as below.

In its lifetime, Burberry has produced numerous unique products for its clients. The company is known for its unique design pieces, fragrances, and jewelry. These products are made to create a competitive advantage through their unique characteristics that differentiate them from those of competitors (Burberry, 13). However, it is a technology innovation that has been at the helm of Burberry’s success in the modern competitive market. Burberry has been proactive in developing new ways of connecting with clients. Burberry has been labeled a luxury digital brand whose focus is now on e-commerce leadership (Bureberry, 2016, p. 30). This comes at a time when the digital revolution is influencing customer trends to a great extent and online business has grown exponentially.

According to Moore (2015), Burberry is leading in embracing technology within their stores and online presence, in an industry where many players have achieved little. In 2009, the campaign dubbed Art of Trench that allowed customers to share their photos in Burberry trenches was a great success and a catalyst of the company’s current digital innovation. The campaign increased Burberry’s followership and created additional traffic to its website, besides the increase in e-commerce sales by 50%. In 2013, Burberry in partnership with Google launched Burberry Kisses, a campaign allowed users to send virtual kisses around the world to individuals of their choice. This created increased traffic to their site and increased the luxury brand’s popularity. Burberry is expected to gain significantly from digital innovation, having successfully created value for the brand based on user-generated content, shared experiences and increased convenience in shopping (Moore, 2015).

Effective and proactive leadership has been a major drive for innovation at Burberry. The current CEO Christopher Bailey also serves as the chief creative (Jones, 2016). This is bound to enhance innovation within the company due to the influence of leadership in the organization.

Customer engagement at Burberry high and this has been instrumental in enhancing innovation. Based on customer feedback, Burberry is able to design products that specifically address customer views and in line with current trends (burberryplc.com).

Having a dedicated innovation team is of significant essence for firms that focus on innovation and Burberry has been successful in achieving this. The ‘What If Group’ is the special innovation group within Burberry that is concerned with the development of wearable technology and innovation. The group which consists of people from different departments have monthly meetings for discussions on new ideas in fashion, technology, and retail.

Every employee at Burberry is valuable and a significant contributor to strategy. Employees at Burberry are encouraged to be creative and to share ideas that could help the company become more competitive through the development of new products, new designs and other aspects that may be of importance (Burberry, 2016, p. 44-45). An open culture at Burberry, allows employees to be creative in their own way, leading to better outcomes in terms of innovation.

New product development process components for Innovation and Risk Management

Development of a new product consists of different components that ensure the product achieves the intended objectives. The NPD process as described by Bhuiyan (2011) includes seven steps as demonstrated below:

New product strategy involves aligning the development process with the objectives of the company. It provides a basis for concept generation and screening criteria guidelines. It can be established as the most important step in the process because it involves identifying the need to develop the product.

Idea generation entails seeking product ideas that align with the objectives of the company. This means that the product must project the overall goals of the organization.

Screening is the initial analysis of ideas to determine which ones are feasible and worth further study. At this juncture, the company has identified different possibilities and screening helps in identifying the most reasonable ones.

The business analysis follows the screening process, with the objective of exploring selected ideas to determine their worth, based on parameters such as profitability, execution, sales volume and return on investment.

The analysis is then followed by the development stage, where the idea is executed to develop a product to meet the needs identified. It is an opportunity to demonstrate the practicability of the idea.

Testing plays an important role during NPD as it involves establishing whether the product will work as anticipated. It involves conducting commercial experiments, with an objective of verifying prior business judgments.

The last phase of the NPD process is commercialization. This is the actual launch of the product to the market, for target customers to purchase. This may be accompanied by a formal launch or marketing activities to inform customers about the new product.

Integrating NPD with strategic growth report and Innovation and Risk Management

As Burberry embarks on promoting its performance through continued innovation and the development of a new product, understanding the NPD process is of great significance. In this relation, Burberry needs to establish factors that make every component of the NPD process successful, and then put innovative strategies in place to ensure that the organization the product launch is a success. Before making a decision on which product to add to the company’s portfolio, the first step would be to establish the current market trends, based on customers’ needs. This should be accompanied by studying the industry to determine the kind of projects that competitors are undertaking and the kind of products they are planning to bring into the market. In obtaining relevant market information, interacting with customers is of great relevance. Social media is a rich source of information and through interacting with customers, Burberry is likely to get an idea of what customers may be looking for.

Generation of ideas spells out the first aspect of the innovation. It is at this juncture that the company will engage its employees and the innovation team to brainstorm and think through possible ideas to be used in satisfying the identified customer needs. During this stage, every idea is important and should be given adequate consideration. As established in the strategic growth report, one of Burberry’s secret towards innovation is employee inclusion in the generation of ideas and having a dedicated innovation team. This means that the idea generation stage should not be difficult to achieve and that the resulting product would be highly innovative. It is also notable that the company thrives on teamwork to enhance organizational success through innovation. Accordingly, screening the ideas identified should be a teamwork affair, where brainstorming, accompanied by rigorous research should be undertaken to determine the best idea to implement. This is an important stage in the NPD process as it will determine the future growth of the company.

While innovation is necessary at all points of the NPD process, the product development stage is particularly sensitive because the nature of the product will determine whether it will perform well in the market or not. This calls for high-quality materials and innovativeness in the production process to ensure that the product will attract demand. The design team must take adequate time to create a product that meets customer needs based on the survey conducted during the need identification and then work towards developing a product that would prove difficult to imitate. The screening process plays an imperative role in determining whether this has been achieved.

Innovation does not end at the production process and it is therefore imperative that Burberry undertakes innovative marketing strategies, with the aim of reaching the intended customers. The company’s digital technology is a good starting point because it offers interactive media for reaching clients. Indeed, the company’s future growth is directly proportional to customers’ perception of the product, hence the need to enhance innovation.

Innovation and Risk Management Conclusion

Burberry is a verifiable example of an innovative company and this strategic growth report is an indication that the company can successfully launch a new product based on the strengths portrayed herein. Through great leadership, teamwork, employee inclusion, leadership in fashion technology and high-tech products, the company has proved that innovation is the key to company success. Based on the NPD process, Burberry has great potential for success and its innovative nature will ensure that the anticipated product exceeds the needs of its customers.

Innovation and Risk Management Reference List

Agarwal, R et al 2015, The Handbook of Service Innovation, Springer, London.

Andries, P, & Czarnitzki, D 2014, ‘Small firm innovation performance and employee

involvement’, Small Business Economics, 43, 1, pp. 21-38, Business Source Complete, EBSCOhost, viewed 8 March 2016, Retrieved from http://eds.a.ebscohost.com/ehost/pdfviewer/pdfviewer?vid=13&sid=94a7ff10-6f4a-4333-a7da-3936e5828dce%40sessionmgr4001&hid=4102

Bhuiyan, N 2011, A framework for successful new product development, Journal of

Industrial Engineering and Management, Vol 4, Issue 4, pp. 746-770.

Burberry 2016, Annual Report 2015/2016, Retrieved from

www.burberryplc.com/documents/ar-15-16/burberry_annual_report_2015-16.pdf

Burberry website, www.burberryplc.com

Chew, EK 2012, Knowledge-Driven Service Innovation and Management: IT Strategies for

Business Alignment and Value Creation: IT Strategies for Business Alignment and Value Creation, IGI Global, Hershey PA.

Grant, RM 2016, Contemporary Strategy Analysis: text and cases, 9th ed, Wiley

& Sons, Chichester.

IBM 2016, Diversity & Inclusion Diversity of People. The diversity of thought: A smarter way to

innovate every day, Retrieved from www-03.ibm.com/employment/us/diverse/downloads/ibm_diversity_brochure.pdf

Jones S 2016, How will Burberry’s changing leadership impact the brand?, Retrieved from

How will Burberry’s changing leadership impact the brand?

Moore, A, 2015, Burberry: Leader in Retail Tech, Retrieved from

Burberry: Leader in Retail Tech

Pantano, E, & Viassone, M 2014, ‘Demand-pull and technology push perspective in

technology-based innovations for the points of sale: The retailer’s evaluation’, Journal Of Retailing & Consumer Services, 21, 1, pp. 43-47, Business Source Complete, EBSCOhost, viewed 24 July 2016, Retrieved from eds.b.ebscohost.com/ehost/detail/detail?vid=3&sid=eb70aece-6d6e-4b5b-90d0-bf9060eb19fc%40sessionmgr101&hid=114&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#AN=92641243&db=bth

Radomski, J, & Sołoducho-Pelc, L 2015, ‘Business Strategy In Innovative And Non-

Innovative Companies Of Various Sizes’, Problems Of Management In The 21St Century, 10, 2, pp. 100-109, Business Source Complete, EBSCOhost, viewed 24 July 2016, Retrieved from eds.b.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=c80672d8-16ae-48f1-927f-adae90d52cf0%40sessionmgr107&vid=1&hid=114

Benefits of Innovation and Risk Management

Benefits of Innovation and Risk Management Order Instructions: Number of pages: 2 (500 words or 450 words)

Benefits of Innovation and Risk Management Assignment Task

Discuss the benefits and challenges experienced as a result of completing the Innovation & Risk Management module assignment report.
Marking Criteria
Reflect upon the coursework task set at the beginning of the module involving an innovative company. (Marks: 20)

Benefits of Innovation and Risk Management
Benefits of Innovation and Risk Management

Describe the research process undertaken during the completion of your coursework assignment report.  (Marks: 40)
Highlight the personal benefits and challenges you have experienced during the implementation of your research strategy and the writing of your coursework on this module.                   (Marks: 40)

Benefits of Innovation and Risk Management Sample Management

BENEFITS AND CHALLENGES EXPERIENCED IN COMPLETION OF THE INNOVATION & RISK MANAGEMENT MODULE ASSIGNMENT REPORT

Completing the Innovation & Risk Management module was both a fulfilling and challenging experience. Besides obtaining valuable information on innovation and risk management, it was a great opportunity to learn and understand what makes up an innovative company. This paper is a reflection of my experience in completing the Innovation & Risk Management module, the research process involved and the benefits and challenges faced on a personal level during the process.

Reflection on innovative Company and Benefits of Innovation and Risk Management

The coursework task involving an innovative company was an opportunity to learn more about the characteristics of an innovative company. Through this assignment, it was possible to identify that innovation is a major prerequisite for competitiveness and that companies must continually invest in innovation in order to create a niche for themselves. In order to be considered innovative, a company must be unique in terms of strategy, products, and services. This varies from the invention, which involves the introduction of new products (Tidd & Bessant, 2013). The task was imperative in identifying how a company can achieve growth through innovation by motivating employees to be innovative, understanding the industry standards, investing in feasible innovation and enhancing risk tolerance (Tidd & Bessant, 2013). The different models of innovation including linear, market pull, technology push, and flexible innovation models created a better understanding of the different approaches taken by companies and how each works differently to achieve business growth (Morris, Pinto & Söderlund, 2012).

The research process Benefits of Innovation and Risk Management

The research process involved the identification of the most appropriate company to focus on for the assignment. I finally settled for Burberry, an innovative luxury fashion house. This was then followed by identification of the target respondents for data collection which included managers, designers, and other corporates; and later designing of the questionnaire to be used for interviews. Coming up with a sizeable number of respondents was a challenging process due to the high number of respondents who declined to participate in the interview due to busy schedules and personal issues.

The interview process involved visiting the selected respondents in their corporate offices in London, where I conducted interviews based on the topic of study. During the data collection period, I experienced various challenges including difficulty in creating appointments. Professionals are busy individuals and setting a date for my appointments proved challenging to a significant extent. I, therefore, ended up making numerous visits to the company’s offices, which was financially and physically draining. I, however, managed to obtain all the information I required within the anticipated time.

Personal Challenges and Benefits of Innovation and Risk Management

One of the major benefits obtained from completing the assignment was enhanced knowledge on the subject through additional readings and references. Innovation and risk management is an extensively researched area and it was thrilling to learn new concepts and different views and study results. Secondly, completing the assignment helped me to further understand the concepts learned in class. During the implementation of the research strategy, I experienced personal benefits such as networking as I met various executives with whom I scheduled appointments with for the sake of the study. The second benefit was that this research strategy was a good learning point for future research. This means that the next time I undertake research will be much easier. I was faced also with the challenge of finding a conducive environment to work in. While I did most of the assignment at the library, destructions were common in other locations, such as when I attempted to work from home.

Challenges encountered include difficulty in obtaining some of the academic resources required to complete the assignment and difficulty in understanding some of the content. While it was easy to identify journal articles with particular information, for example, accessing the content required subscription, such that I could not make use of such resources.  Traveling through London for these appointments was also fairly expensive, given that I sometimes missed the person I was going to see. I missed a few appointments that were canceled at last minute due to emergency engagements by the interviewees and instances where some completely forgot or overlooked the appointment.

In conclusion, I consider the Innovation & Risk Management course a good learning experience and I look forward to utilizing the knowledge and skills learned in future endeavors.

Benefits of Innovation and Risk Management Reference List

Morris, PW., & Pinto, JK., & Söderlund, J 2012V, The Oxford Handbook of Project

Management Oxford Handbooks in Business and Management,  OUP Oxford, London.

Tidd, J. and Bessant, J 2013, Managing Innovation. (5th Edition)  New York:  John

Wiley & Sons.

Management Dissertation Proposal Proforma

Management Dissertation Proposal Proforma Order Instructions: Dear Admin,
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Management Dissertation Proposal Proforma
Management Dissertation Proposal Proforma

The internal and the external factors that affect the performance of employees in oil and gas companies in the state of Qatar after 2015 oil price drop

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Management Dissertation Proposal Proforma Sample Answer

THE INTERNAL AND THE EXTERNAL FACTORS THAT AFFECT THE PERFORMANCE OF EMPLOYEES IN OIL AND GAS COMPANIES IN STATE OF QATAR AFTER 2015 OIL PRICE DROP

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MANAGEMENT DISSERTATION PROPOSAL PROFORMA

Aim, objectives and feasibility of the dissertation

Background Information:

Among the Gulf Cooperation Council members (GCC), Qatar is considered to have weathered the reduction of the global demand for petroleum products following the glut of the market. However, the 70- percent decline in this global oil prices in 2015 has shaken the economy of this nation (Milmo, 2016, pp.38). This has resulted in this state running below its budget threshold into a budget deficit of close to $13.0 billion, a figure that is equivalent to 0.8% of the economies GDP.

For a developed economy such as that of Qatar, a relative dependence on oil and its products as inputs in the state’s industries are likely to result in the deplete in these prices, an aspect that would equally decrease the related input costs of this product(Milmo, 2016, pp.39). Alternatively, the input costs are also likely to decrease thus decreasing the cost of production and increasing unemployment rates of this state. As a result of the development of energy efficient policies for the last decades, the tendency towards the world has changed into the consumption of greener technology, an aspect that has decreased the consumption of oil.

According to existing literature, more focus has initially been turned towards the relationship between internal and external factors that affect the performance of employees within oil and gas companies in well-developed states such as Qatar, especially in the wake of price drops, a factor that this research study aims to establish. This study is of interest to me primarily because it probes to establish some of the challenge’s employees within the oil-dependent economies face, an aspect that would determine approaches of solving such issues. In the wider context, the study would be of significance for others as well since it establishes the essence of HRM practices and their essence within the functions of an organization.

On the other hand, the study is motivated by the need to discover investment channels that companies can invest in rather than the reliance on oil as the only generator or revenues. The benefit of this research study is in the development of other areas and investment activities that can profit organizations during this depression in oil prices and also establish the manner in which factors affecting the performance of employees can be enhanced. The insights gained from this study will, therefore, be employed in management with the aim of enhancing the managerial practices directed toward enhancing the performance of employees.

The study is significantly tied to the concept of human resource management and the theory of employee performance is critically studied to contract their relevance to the functions of an organization amidst oil and gas price drops. These theories will address the essence of HRM functions and their need for enhancing the performance of employees within the oil and gas industries in Qatar.

Aims of the Study and Management Dissertation Proposal Proforma

It is essential to determine that the performance of employees within an organization departmental, managerial and leadership levels impact the goals of such organizations positively or negatively. In this case, the performance of employees can be affected by several elements in a work environment. This study, therefore, aims at drawing focus on some of the internal and external challenges the employees working in oil and gas company experience especially when the deplete in oil prices hit an economy such as Qatar. The study will alternatively detail some of the variables affecting the performance of employees both internally and externally.

Management Dissertation Proposal Proforma Research Question

  1. What are the internal factors that affect the performance of employees within oil and gas companies within well-developed states such as Qatar in the rise of oil price drops?
  2. What are the external factors that affect the performance of employees within oil and gas companies within well-developed states such as Qatar in the rise of oil price drops?
  3. What are the approaches that can be employed in solving the internal and external factors that affect the performance of employees in these companies as a result of drops in oil prices?

Management Dissertation Proposal Proforma Research Objectives

The primary objectives of this study include:

  1. Establish the internal and external factors that impact employee performance in oil and gas companies in the state of Qatar following the drop in oil prices.
  2. Establish appropriate recommendations and conclusions that identify approaches of solving the negative impacts of these factors on the performance of employees within organizations in Qatar.

The Feasibility of the Study for Management Dissertation Proposal Proforma

In meeting the objective of this study, a culmination of the necessary resources required has been achieved. The study will gain access to the requisite data by collecting information from other research respondents through a survey and questionnaire that will be distributed to 200 respondents that have worked in the gas and oil industries in Qatar.

The survey and questionnaire will be distributed online to enhance the process of data collection. A consent letter has been granted from our organization that permits this study with a similar developed to provide to the respondents in getting their consent to conduct this study. The respondents of this study have shown a willingness by accepting to engage in the study that will be conducted within a timeframe of 7 months.

Management Dissertation Proposal Proforma Literature review

After the decision of GCC in 2014 not to cut the production of oil following the drop in oil prices, the cost of a barrel of oil has significantly fallen to its lowest since 2015. According to Milmo (2016), the drop in oil prices, in this case, affects the economy of this state since the stock markets around the world are significantly affected by these drops (pp.38). The decrease in oil prices in Qatar was brought about by several factors that include: GCC’s changing policy objectives, the increasing decline in global oil product demands, and an increase in oil production among other economies. Additionally,  the decrease in GCC’s geopolitical concerns that appertain to supply disruptions in other countries that depend on oil from Qatar is also another challenge that results attributed to the drop in oil prices.

Krane (2015) on the other hand supports the views of Milmo (2016) by stating that in as much as several importing counties have immensely benefited from the drops in oil prices, the effects and impacts of these price drops may not be positive worldwide (pp.16). This can be depicted in the fact that some of the leading oil-producing states such as Qatar struggle in maintaining their economy and stability as a result of declines in oil revenues (‘United Arab Emirates Oil & Gas Report’ 2015, pp.110). As a result of the destabilizing effects that result from a drop in oil prices, serious implications for companies and their workforce are considered to be immense.

Smead (2015), states that a decrease in oil prices has the capacity to significantly strengthen the dollar, a factor that would affect other corresponding currency of Qatar as a result of the state’s dependence on commodity exports (pp.85). As a result of oil drops to a state’s financial assets to oil, widespread default on companies are likely to be experienced. This is attributed to the fact that the precipitation of financial contagion may result in instabilities in such organizations.

However, Marais (2016) contrasts to the views of other authors since he alleges that Qatar significantly seems to be immune to the effects of price drops in its oil products. According to this author, the economic performance of Qatar is still strong even with the drop in oil prices, an aspect that is attributed to the state’s expansion in other entities such as the non-hydrocarbon industry (‘Qatar Oil & Gas Report’ 2015, pp.65). This industry is considered to drive the state’s economic momentum, thus propelling the spending made on investments. On the other hand, Breunig, & Tse Chern, (2015) also points to Qatar’s construction and banking industries as robust in recording the state’s economic growth (pp.114).

Webb, Jeffrey, & Schulz (2011) points out to the fact that employees are the organizations’ resource and need to be properly compensated in order to achieve the goals of an organization. As detailed initially, the development of the HRM approach is vitally based on approaches aimed at utilizing people and treating them as resources in order to realize an organizations objectives (pp.212). This clearly denotes the functional role of HRM within these organizations, an effort directed toward initiating high-performance work systems. This aspect consequently entails linking the workforce in different departments within an organization. Thus, oil and gas companies incorporate the use of effective HRM systems to increase their competitive nature through investment in employee development.

The concept of employee performance is on the other hand associated with the workforce’s ability to achieve quality in relation to output, the presence of employees on the job, the timeliness of the output, and the effectiveness of the work completed Fedor, & Rensvold, (2012) states that an effective leadership style has a bearing that encourages employee performance (pp.790). On the other hand, Lin (2011) states and supports the views of this author by asserting that employee performance involves the successful completion of duties and responsibilities as developed by the supervisors of an organization (pp.895).  In this case, the performance of employees according to these authors may be considered in the perspective of three elements that enable them to perform better, with the determinacy of their performance considered as wholly dependent on their declarative knowledge, motivations and procedural knowledge. In short, it is essential to establish that efficient HR practices have a positive impact on the performance of employees within an organization.

As a result of the drops in oil prices in Qatar, Das, Smith, Hennigan, & Yeager (2013) notes that there are five internal human resource management practices that affect the performance of employees. This consequently includes organizations efforts directed towards eliminating recruitment packages and competitive compensation levels, the elimination of training and development, including personal appraisals and the layoff of staff members with the aim of stabilizing the functions of these organizations (pp.52). In this case, organizations are forced to restructure their systems and functions during such periods in order to remain competitive in the market.

Hu, & Kaplan, (2015) points out that the sharp decline in oil prices has tipped several companies into recession, an aspect that has slumped investment levels within the oil and gas industry. Several employees have been laid off as a result of this slump, thus affecting the functions of HRM within the organizations (pp.125). In this journal, the author suggestively points out that the layoffs of employees within this sector, thus affecting the production of goods and services within these projects such as oil and gas ripping services, engineering and construction services.

The crash in oil prices has seen employees in organizations in the state of Qatar experience external issues that impact their performance. Jaffe, & Elass, (2015) purports that the drop in oil prices has seen the cancellation of a series of projects within the energy companies proposals, a factor that has resulted in job cuts.  Several expatriates have also left Qatar for holidays and letting their families stay at home. According to this author, these results from the outcome of these companies’ efforts aimed at establishing the right-sizing of their organization’s human resources (pp.125). Oil companies in this region have therefore taken steps in downsizing and canceling their projects as an approach of cushioning the workforce on the impact of the falling oil prices. Hu, & Kaplan (2015) supports the views of this author by pointing out to several companies in Qatar denounced the renewal of their contracts with other companies such that the European energy company since these companies are not sure whether they would get enough projects to supplement the needs of its employees.

In addition to this, the depression in oil prices has also seen oilfield service companies and their sub-contractors suffer from some of the huge drops in their organizational activities, thus impacting the performance of employees. Instances of reductions in spending on staffs on pertinent activities such as training and development, motivation and empowerment have been ripped off by organizations as a result of low incomes received by these companies (Salehi, Save, Nel, & Almquist, 2015, pp.47). The drops in oil prices have also seen several employees in companies dealing in oil and gas encounter an increase in financial pressures. This results from the swelling prices of products and services within the economy of the emirate of this nation, an aspect that has affected these employees immensely. As a result of the scope of staff cuts, the citizens of Qatar working in these companies have been rendered jobless, thus their survival has turned out to be challenging.

Research Methodology and Methods

This study will, therefore, use the interpretivism approach as an epistemological stance that believed in reality as relative and multifaceted. The knowledge acquired from this study is socially constructed with the aim of developing an understanding and interpretation of the factors that affect the performance of employees in oil and gas companies rather than a generalized cause and effect. The study is consequently open to new knowledge that aims to develop it further with the help of informants.

This study will use the quantitative research method in analyzing and establishing some of the factors that affect the performance of employees in oil and gas companies in the state of Qatar following the drop in oil prices. The qualitative research method will, therefore, give an explanation of these phenomena through the collection of numerical data that will be analyzed through a mathematical method in particular reference to statistics (Ngulube, 2015, pp.130).

For the primary purpose of this study, the performance of employees will be gagged as a dependent variable while the factors that affect their performance viewed as independent variables.

To address the studies objectively, the research will use questionnaires in the collection of data. Questionnaires are considered as the primary source that aids in obtaining data for a research endeavor.  In view of this, the research will design an efficient questionnaire that is valid, unambiguous and reliable (Ngulube, 2015, pp.130). The study will, therefore, make use of a series of questions that will be developed to find out the required information that will be filled by the participants. The participants will fill these questionnaires either through written forms or through an online survey that will allow the respondents to answer the research questions.

In order to improve the validity of the data that will control the respondent’s answers as detailed in the research questions and objectives, the study will make use of a high-structured questionnaire. It is essential to establish that the culture of employees in Qatar depicts the hesitation of people in expressing their views, feelings, assessments, or their advice in a straightforward manner (Ngulube, 2015, pp.130). However, through the use of questionnaires, the element of anonymity on all the respondent of the study will be considered since the information of the participants will be confidential. This will allow the respondents to feel free in giving their views honestly, an aspect that will establish the reliability of collected data.

In consideration of this research approach, the collection of relevant data will depend upon the choice of the right respondents within several organizations. The research will, therefore, issue 200 questionnaires to the respondents and employees of these companies within this research area (Ngulube, 2015, pp.130). Data collection will primarily be done by taking into account the organizations involved in the study, with a population of 200 employees targeted within the oil and gas industry in Qatar. On the other hand, the survey will use close-ended questionnaires that will be designed to aid data collection. The questionnaire will be designed through the formulation of close-ended questions that will maximize the margins in establishing the factors that impact the performance of employees in these companies.

Key Findings of the Research Study Management Dissertation Proposal Proforma

As detailed in the findings of this study, it has been established that employees remain of significance within the functions of an organization and need to be adequately compensated in order to achieve the goals of an organization (Das, Smith, Hennigan & Yeager, 2013, pp.54). According to the findings of this study, the HRM functions contribute to high performances within the work environment, an element that can be achieved when the functions of HRM are incorporated within an organization. In this case, oil and gas companies use HRM functions and systems with the aim of improving their competitive nature, an aspect that can be achieved when investments are made on the development of employees.

However, the drop in oil prices has been noted as significant in affecting the manner in which organizations dispense their HRM functions. The study established that some of the internal factors that affect the performances of employees within oil and gas industries. These factors include the efforts of these organizations to eliminate recruitment packages and competitive compensations, training and development, job cuts and personal appraisals with the aim of right-sizing organizations (Das, et.al.pp.54). Organizations are in this case forced to structure their functions by limiting the activities of HRM in order to stabilize during such economic period.

On the other hand, the study established that there are external factors that also affect the performance of employees within oil and gas industries in Qatar. The drop in oil prices has resulted in the cancellation of several projects within energy industries, an aspect that has resulted in heavy job cuts thus affecting different employees and their families (Das, Smith, et.al.pp.54).. Efforts of companies to downsize their employees have resulted in unemployment, an aspect that has affected the economy of this state. On the other hand, a huge drop in the activities of organizations has been experienced as a result of these price drops, an aspect that has ripped off the element of motivation and empowerment of employees due to the low-income levels achieved.

Recommendations and Conclusions for Management Dissertation Proposal Proforma

Qatar is considered to have weathered the reduction of the global demand for petroleum products following the glut of the market. For a developed economy such as that of Qatar, a relative dependence on oil and its products as inputs in the state’s industries are likely to result in the reduction of oil product prices, an aspect that would equally decrease the related input costs of this product. It is therefore significant for the emirate economy to consider diverting its attention to other industries such as the infrastructural development industry and the construction industry in stemming the impact of price fluctuations in the oil industry. On the other hand, organizations and companies operating within the oil and gas industry need to establish the need to invest in other activities and markets, also taking into consideration the essence of HRM practices in elevating the performance of employees.

4.     Timing mileposts

NB: You must reach Stage 8 at least 4 weeks before your deadline. A 30-day contingency provision is also advisable to allow for potential slippages. This will enable your DA to give you sufficient feedback on your final draft.

You should produce a final Proposal for submission to the DA for approval within 1 to 2 months from your module start date. However, please aim for 7 weeks from your start date at the latest, to ensure time for any necessary revisions and final approval by the 8-week cut-off.

 

Milestone

Description

Due date

Remarks

1 Stage 1: Area of interest identified
2 Stage 2: Specific topic selected
3 Stage 3: Topic refined to develop dissertation proposal
4 Stage 4: Proposal written and submitted
5 Stage 5: Collection of data and information
6 Stage 6: Analysis and interpretation of collected data/information
7 Stage 7: Writing up
8 Stage 8: Final draft prepared— submission of dissertation
9 Final Deadline—9 months from module start date.

 

Management Dissertation Proposal Proforma References

 Breunig, R, & Tse Chern, C 2015, ‘Sovereign Ratings and Oil-Exporting Countries: The Effect of High Oil Prices on Ratings’, International Review Of Finance, 15, 1, pp. 113-138, Business Source Complete, EBSCOhost, viewed 3 July 2016.

Das, B, Smith, D, Hennigan, J, & Yeager, R 2013, ‘Situational Factors Affecting Performance-rating Ability’, International Journal Of Operations & Production Management, 13, 3, pp. 49-56, Business Source Complete, EBSCOhost, viewed 3 July 2016.

Fedor, D, & Rensvold, R 2012, ‘An Investigation Of Factors Expected To Affect Feedback Seeking: A Longitudinal Field Study’, Personnel Psychology, 45, 4, pp. 779-805, Business Source Complete, EBSCOhost, viewed 3 July 2016.

Hu, X, & Kaplan, S 2015, ‘The Effects of Unconsciously Derived Affect on Task Satisfaction and Performance’, Journal Of Business & Psychology, 30, 1, pp. 119-135, Business Source Complete, EBSCOhost, viewed 3 July 2016.

Jaffe, A, & Elass, J 2015, ‘WAR AND THE OIL PRICE CYCLE’, Journal Of International Affairs, 69, 1, pp. 121-137, Academic Search Premier, EBSCOhost, viewed 3 July 2016.

Krane, J 2015, ‘Stability versus Sustainability: Energy Policy in the Gulf Monarchies’, Energy Journal, 36, 4, pp. 1-21, Academic Search Premier, EBSCOhost, viewed 3 July 2016.

Kulkarni, P 2015, ‘With the industry facing low crude oil prices for the foreseeable future, the Middle East and North Africa (MENA) region remains an oasis of increasing oilfield activity, due to minimal lifting costs’, World Oil, 236, 10, pp. 80-86, Business Source Complete, EBSCOhost, viewed 3 July 2016.

Lin, W 2011, ‘Relevant factors that affect service recovery performance’, Service Industries Journal, 30, 6, pp. 891-910, Hospitality & Tourism Complete, EBSCOhost, viewed 3 July 2016.

Marais, J 2016, ‘Oil: What the slump tells us about the global economy. (cover story)’, Finweek, pp. 28-31, Business Source Complete, EBSCOhost, viewed 3 July 2016.

Milmo, S 2016, ‘Oil Dips, Prospects Rise? With oil prices low, what does the future hold for the global petrochemicals industry?’, TCE: The Chemical Engineer, 897, pp. 35-37, Academic Search Premier, EBSCOhost, viewed 3 July 2016.

Ngulube, P 2015, ‘Trends in Research Methodological Procedures Used in Knowledge Management Studies’, African Journal Of Library, Archives & Information Science, 25, 2, pp. 125-143, Academic Search Premier, EBSCOhost, viewed 3 July 2016.

‘Qatar Oil & Gas Report’ 2015, Qatar Oil & Gas Report, 1, pp. 1-121, Business Source Complete, EBSCOhost, viewed 3 July 2016.

Salehi, E, Save, S, Nel, W, & Almquist, G 2015, ‘Improve economics with GTL integration into oil sands operations’, Hydrocarbon Processing, pp. 41-44, Academic Search Premier, EBSCOhost, viewed 3 July 2016.

Smead, RG 2015, ‘Natural Gas Market Movement and Enforcement Risk’, Natural Gas & Electricity, 31, 12, pp. 15-19, Business Source Complete, EBSCOhost, viewed 3 July 2016.

‘United Arab Emirates Oil & Gas Report’ 2015, UAE Oil & Gas Report, 4, pp. 1-125, Business Source Complete, EBSCOhost, viewed 3 July 2016.

Webb, A, Jeffrey, S, & Schulz, 2011, ‘Factors Affecting Goal Difficulty and Performance When Employees Select Their Own Performance Goals: Evidence from the Field’, Journal Of Management Accounting Research, 22, pp. 209-232, Business Source Complete, EBSCOhost, viewed 3 July 2016.

Principles of Luntz Application to Portfolio Management

Principles of Luntz Application to Portfolio Management Order Instructions: The are 5 main points here that the writer must clearly address, it is important that he clearly address this 5 points clearly and also including all examples as stated in the order form here below.

Principles of Luntz Application to Portfolio Management
Principles of Luntz Application to Portfolio Management

The writer must use peer review articles to support his facts and APA and gamma with sentence structure must be noted as he writes this paper.

Extraordinary Management

It has been said that, if you always do what you have always done, you will always get what you have always gotten. It is equally true that if you always see what you’ve always seen, you will continue to behave as you always have. If you want to change an organization, you must change your way of seeing the world. You must shed your biases in order to see the world with fresh insight. Only by doing this can you develop approaches to business that will take you from ordinary to extraordinary. The authors of this segment’s Learning Resources offer principles and practices that can lead to new ways of seeing the world.

– Begin by explaining how Luntz’s principles can be applied to portfolio management.

– Then discuss how his principles relate to at least two prominent models of leadership.

– Next, contrast Luntz’s principles of winning to Laufer’s leadership practices.

– Finally, provide at least five criteria for measuring portfolio performance to validate the principles and practices you have just discussed.

– Provide specific examples of how you would apply these criteria to your professional practice.

Principles of Luntz Application to Portfolio Management Resources

Readings

• Laufer, A. (2012). Mastering the leadership role in project management: Practices that deliver remarkable results. Upper Saddle River, NJ: FT Press.

o Chapter 7, “Exploring Space: Shaping Culture by Exploiting Location”

Laufer introduces the concept of leading diverse cultures through this case about NASA’s Advanced Composition Explorer mission.

o Chapter 8, “Building a Dairy Plant: Accelerating Speed Through Splitting and Harmonizing”

This case introduces the idea of leading a diverse team under accelerated time constraints.

• Luntz, F. I. (2011). Win: The key principles to take your business from ordinary to extraordinary. New York, NY: Hyperion.

o Chapter 9, “Persuasion”

Luntz defines and explains persuasion and the degrees of persuasion that exist. He also explains “how winners persuade” and delineates criteria for successful persuasion.

o Chapter 10, “Persistence”

Luntz explains that persistence is the most critical element to winning. Without it, winning is impossible.

o Chapter 11, “Conclusion: Principled Action”

Principles support and qualify every action. Without principles, sustained winning is unattainable.

• Senge, P. M. (2006). The fifth discipline: The art & practice of the learning organization. New York, NY: Doubleday.

o Chapter 5, “A Shift of Mind”

Senge explains the role of feedback in systems thinking. Feedback can enable us to overturn deeply ingrained maladaptive viewpoints.

o Chapter 6, “Nature’s Templates: Identifying the Patterns That Control Events”

Senge introduces two structures: “limits to growth” and “shifting the burden,” which drive personal and organizational learning.

o Chapter 7, “Self-Limiting or Self-Sustaining Growth”

Leverage is important, but not obvious to most actors in most systems. The structures underlying our actions lead us to focus on symptoms where the stress is greatest.

Principles of Luntz Application to Portfolio Management Sample Answer

Extraordinary Management;

How the Principles of Luntz could be applied to Portfolio Management

Luntz identified 9 Ps of winning which could be followed by a business person who intends to be a winner for effective portfolio management. Luntz’s principles can be applied to portfolio management by strictly following the 9 Ps of winning. These include (i) People-Centeredness – all decisions regarding objectives, products and communication have to be submitted to the main organizational question: in what way does that affect the everyday persons? (Luntz, 2011). (ii) Paradigm Breaking – the manager is a game changer who has the approach of never settling for the usual or conventional. (iii) Prioritization – the manager has an uncanny capacity to prioritize and knows how to separate what should be done from what must be done. (iv) Perfection – the manager is driven to perfection and this allows him/her to reach excellence in portfolio management. (v) Partnership – the manager works with the right people/partners/employees. (vi) Passion – the manager brings passion in portfolio management. (vii) Persuasion – the manager persuades others to ensure effective portfolio management. (viii) Persistence – to succeed in portfolio management, the manager knows how to succeed over the long term, never accepts defeat and never gives up. (ix) Principled Action – the manager has a set of guiding principles which allow him/her to succeed in portfolio management (Luntz, 2011).

How Luntz’s Principles relate To 2 Prominent Leadership Models

Luntz’s principles relate to the following prominent models of leadership: charismatic leadership and transformational leadership model. In Luntz’s principles, the first P of People-Centeredness means that for the leader to be a winner, he or she should know what makes team members or employees tick. As a successful communicator, the leader is charismatic and charming (Senge, 2006). They also bring passion to whatever they do and the way they communicate. This clearly relates to the charismatic leadership model in which the leader injects enthusiasm into the team, and he or she is really energetic in driving the team members forward (Stogdill, 2011). Transformational leaders inspire their team with a collective vision of the future. They spend much time communicating and are very visible. This is in line with Luntz’s winning Ps of People-Centeredness, Paradigm Breaking, and Prioritization of Luntz’s principles.

Contrasting Luntz’s Principles of Winning and Laufer’s Leadership Practices

Luntz’s principles of winning provide several guidelines that managers or leaders can use in order to win particularly in business. In essence, Luntz’s principles demonstrate how winners win and how a businessman can learn the way that winners usually win. The 9 rules for winners are helpful to business persons who can use them to plan their communications to emerge winners in the marketplace of today (Luntz, 2011). This differs to some extent from Laufer’s leadership practices since Laufer’s leadership practices focus on good leadership in the context of managing projects and how people can be successful by doing what is actually right for the project and bring the project team members together to believe in the project (Laufer, 2012). Moreover, Laufer’s leadership practices highlight what a project manager has to do in order to deliver outstanding project results; that is, by leading rather than following a scripted checklist.

Five Criteria for Measuring Portfolio Performance

Portfolio performance measures need to be an essential facet of the investment decision process. The criteria for measuring portfolio performance to validate the principles and practices discussed above include the following: (i) rate of return of a portfolio. It is the most vital outcome of any investment (Gurroy & Omer, 2011); (ii) risk-adjusted performance measure; (iii) use of Treynor Index; (iv) use of Sharp Index; and (v) use of Jensen Index – the three indices would be used to measure the risk-adjusted performance (Shahid, 2013).

How I Would Apply the Criteria to My Professional Practice

In my professional practice, I would apply the aforementioned criteria by measuring the rate of return to the company’s portfolio. An appropriate formula would be used to compute the return to a portfolio. The common methods for computing return to a portfolio that I would use include Value Weighted rate of return and Time Weighted rate of return. Secondly, I would apply the criteria by using the three indices – Treynor Index, The Sharp Index, and The Jensen Index – to measure the risk-adjusted performance to determine portfolio performance.

Principles of Luntz Application to Portfolio Management References

Gurroy, C. T., & Omer, Y. (2011). Evaluation of portfolio performance. Oxford, England: Oxford University Press.

Laufer, A. (2012). Mastering the leadership role in project management: Practices that deliver remarkable results. Upper Saddle River, NJ: FT Press.

Luntz, F. I. (2011). Win: The key principles to take your business from ordinary to extraordinary. New York, NY: Hyperion.

Shahid, M. (2013). Measuring portfolio performance. Journal of Finance, 32(9): 23-35

Senge, P. M. (2006). The fifth discipline: The art & practice of the learning organization. New York, NY: Doubleday.

Stogdill, R. M. (2012). Handbook of Leadership: A Survey of Theory and Research. New York: Free Press.

Operational Service Development Management

Operational Service Development Management Order Instructions: In this exercise you will review a sample of work and attempt, to identify violations of the Harvard referencing style.

Operational Service Development Management
Operational Service Development Management

To complete this exercise:

  1. Review the extract below from a proposal on the role of the service concept in managing professional services.
  2. Use the University of Liverpool’s Harvard citation style guidelines athttp://libguides.liv.ac.uk/onlineprogrammes/referencingto identify and correct errors (i.e. violations of the Harvard style).

Note: In total there are 20 errors in the extract; 7 in the text and 13 in the References list.

EXTRACT:

Levitt discusses the need for, and potential benefits of, the industrialization of service. He describes specialization as essential to achieving meaningful economies of scale and, thus, productivity, and likens the notion of specialization to the concept of division of labor in manufacturing. Specialization continues to be critically important, although the term focus is more commonly used today. Davidow and Uttal (1998) echo these thoughts when calling for service companies to develop and execute focused strategies. These authors describe the need for defining fairly narrow customer segments (in contrast to more broadly defined market segments) in order to simultaneously achieve high levels of customer satisfaction and efficiency, and, consequently, profitability. They emphasize the central role of customer expectations in this context and describe the need for managing them, i.e. setting them to appropriate levels.

Thakor and Kumar discuss their research into consumers’ perception of what characterizes professional services. Consumers consider those services to be ‘more professional’ that are perceived to require higher levels of expertise and lower levels of manual labor, and that possess higher levels of credence qualities. Similarly, ‘more professional’ services are deemed more critical, recommendations play a more important role in service selection, and involve a higher lack of clarity as to the nature of service actually required. McLaughlin et al. (1995) provide a detailed discussion of focus in professional service organizations. Drawing on empirical research of outpatient surgery centers, these authors define the notion of focus, discuss benefits and disadvantages, and develop a framework aiding managers in making micro-focus decisions. Ojasalo (2001) investigates the specific nature of customer expectations in the context of professional services and describes them as often being fuzzy, implicit, and unrealistic. He describes the potential effect of such expectations and professional service providers’ failure to meet them on perceived service quality. The author discusses the potential negative effects of appropriately managing such expectations on “perceived short-term quality/satisfaction and the related potential positive effects on long-term quality/satisfaction”.

Meyer Goldstein (2002) describe the service concept’s role in driving design and planning decisions at all the levels of new service development. The service concept is described as essential to creating organizational alignment by linking a service organization’s strategic intent to its customers’ needs, and as linking the ‘how’ and ‘what’ of service design. Kwortnik and Thompson (2009) research the case of ‘Liberty Cruise Lines’ to understand the service operations challenges originating from service design decisions taken from a service marketing perspective. They advocate the use of the service operations model, which includes the service promise and concept as one of its essential elements. The authors emphasize the need for coordination between service marketing and operations during ongoing operations rather than only during new service development. Furthermore, they suggest bridging the service marketing-operations gap with service experience management, a new function integrating service operations and marketing. Malhotra and Sharma (2002) agree that the interface between service marketing and operations is critically important. They emphasize the importance of cross-functional interactions and joint decision-making across these disciplines, and introduce a simple marketing operations integration framework, which identifies opportunities for inter-functional integration. A cross-functional approach to service management is seen as essential for effective service design and delivery.

Heskett, Jones, Loveman, Sasser, and Schlesinger (1994) describe the service-profit chain, which identifies the drivers of profitability and revenue growth in service organizations. Customer loyalty is identified as the primary driver and in turn originates from customer satisfaction and service value. In turn, service value originates from employee retention and productivity, which both result from employee satisfaction. Employee satisfaction primarily originates from internal service quality, which enables employees to deliver results desired by customers. According to these authors, the results for customers that constitute service value are defined by the service concept, which is the central element of the service-profit chain.

Several authors notice the increasing emphasis on the customer experience as part of delivering services to customers. According to Verma et al. (2002: 117), “[s]ome researchers argue that several developed nations have moved beyond the service economy to the experience economy“. Fynes and Lally 2008 agree on the growing importance of the experience element of a service and advocate progressing from mere service concepts to more explicit experience concepts. This notion puts increased emphasis on the service experience element of the service concept as described by Johnston and Clark (2005: 37-63).

Operational Service Development Management References

Davidow, W.H. & Uttal, B. (1989) ‘Service companies: focus or falter’, Harvard Business Review, 67 (4), pp.77-85, Business Source Premier [Online]. AN: 8909250509 (Accessed: 4 October 2009).

Fynes, B. & Lally, A.M. (2008) ‘Innovation in services: from service concepts to service experiences’. (eds.) Hefley, B. & Murphy, W. Service science, management and engineering: education for the 21st century. SpringerLink [Online]. Available from: http://www.springerlink.com.ezproxy.liv.ac.uk/content/v25632 (Accessed: 12 September 2009).

Heskett, J.L., Jones, T.O., Loveman, G.W., Sasser, W.E. Jr. & Schlesinger, L.A. (1994) ‘Putting the service-profit chain to work’, Harvard Business Review, 72 (2), 164-170, Business Source Premier [Online]. AN: 9405100929 (Accessed: 6 September 2009).

Johnston, R. & Clark, G. (2005) Service operations management: improving service delivery. 2nd ed. Prentice Hall: Harlow, UK

Kwortnik, R.J. Jr. & Thompson, G.M. (2009) Unifying service marketing and operations with service experience management, Journal of Service Research, 11 (4), pp.389-406, Sage [Online]. DOI: 10.1177/1094670509333595 (Accessed: 7 September 2009).

Levitt, T. (1976) ‘The industrialization of service’, Harvard Business Review, 54 (5), pp.63-74, Business Source Premier [Online]. AN: 3867393 (Accessed: 4 October 2009].

Malhotra, M.K. & Sharma, S. (2002) ‘Spanning the continuum between marketing and operations’, Journal of Operations Management, 20 (3), pp.209-219. ScienceDirect [Online]. DOI: 10.1016/S0272-6963(02)00019-0

McLaughlin, C.P., Yang, S. & van Dierdonck, R. (1995) ‘Professional service organizations and focus’,Management Science, 41 (7), pp.1185-1193, JSTOR (Online) Available from: http://www.jstor.org/stable/2632775 (Accessed: 28 September 2009).

Susan Meyer Goldstein, Robert Johnston, JoAnn Duffy, Jay Rao (2002) ‘The service concept: the missing link in service design research?’, Journal of Operations Management, 20 (2), pp.121-134, ScienceDirect [Online]. DOI: 10.1016/S0272-6963(01)00090-0 (Accessed: 12 September 2009).

Ojasalo, J. (2001) ‘Managing customer expectations in professional services’, Managing Service Quality, 11 (3), pp.200-212, Emerald Insight [Online]. DOI: 10.1108/09604520110391379 [Accessed: 15 September 2009].

M.V. Thakor & A. Kumar (2000) ‘What is a professional service? A conceptual review and bi-national investigation’, Journal of Services Marketing, 14 (1), pp.63-82, Emerald Insight [Online]. DOI: 10.1108/08876040010309211 (Accessed: 15 September 2009).

Verma, R., Fitzsimmons, J., Heineke, J. & Davis, M. (2002), ‘New issues and opportunities in service design research’, Journal of Operations Management, 20 (2), pp.117-120, ScienceDirect [Online]. DOI: 10.1016/S0272-6963(01)00089-4 (Accessed: 16 September 2009).

Total: 20 errors
In text: 7 errors
In reference list: 13 errors

This assignment is due to be posted to the Assignment provided on Day 7 of Week 2.

Operational Service Development Management Sample Answer

Extract

Levitt discusses the need for, and potential benefits of, the industrialization of service. He describes specialization as essential to achieving meaningful economies of scale and, thus, productivity, and likens the notion of specialization to the concept of division of labor in manufacturing. Specialization continues to be critically important, although the term focus is more commonly used today. Davidow and Uttal (1998) echo these thoughts when calling for service companies to develop and execute focused strategies. These authors describe the need for defining fairly narrow customer segments (in contrast to more broadly defined market segments) in order to simultaneously achieve high levels of customer satisfaction and efficiency, and, consequently, profitability. They emphasize the central role of customer expectations in this context and describe the need for managing them, i.e. setting them to appropriate levels.Thakor and Kumar discuss their research into consumers’ perception of what characterizes professional services. Consumers consider those services to be ‘more professional’ that are perceived to require higher levels of expertise and lower levels of manual labor, and that possess higher levels of credence qualities. Similarly, ‘more professional’ services are deemed more critical, recommendations play a more important role in service selection, and involve a higher lack of clarity as to the nature of service actually required. McLaughlin et al. (1995) provide a detailed discussion of focus in professional service organizations. Drawing on empirical research of outpatient surgery centers, these authors define the notion of focus, discuss benefits and disadvantages, and develop a framework aiding managers in making micro-focus decisions. Ojasalo (2001) investigates the specific nature of customer expectations in the context of professional services and describes them as often being fuzzy, implicit, and unrealistic. He describes the potential effect of such expectations and professional service providers’ failure to meet them on perceived service quality. The author discusses the potential negative effects of appropriately managing such expectations on “perceived short-term quality/satisfaction and the related potential positive effects on long-term quality/satisfaction”.Meyer Goldstein (2002) describe the service concept’s role in driving design and planning decisions at all levels of new service development. The service concept is described as essential to creating organizational alignment by linking a service organization’s strategic intent to its customers’ needs, and as linking the ‘how’ and ‘what’ of service design. Kwortnik and Thompson (2009) research the case of ‘Liberty Cruise Lines’ to understand the service operations challenges originating from service design decisions taken from a service marketing perspective. They advocate the use of the service operations model, which includes the service promise and concept as one of its essential elements. The authors emphasize the need for coordination between service marketing and operations during ongoing operations rather than only during new service development. Furthermore, they suggest bridging the service marketing-operations gap with service experience management, a new function integrating service operations and marketing. Malhotra and Sharma (2002) agree that the interface between service marketing and operations is critically important. They emphasize the importance of cross-functional interactions and joint decision-making across these disciplines, and introduce a simple marketing operations integration framework, which identifies opportunities for inter-functional integration. A cross-functional approach to service management is seen as essential for effective service design and delivery.Heskett, Jones, Loveman, Sasser, and Schlesinger (1994) describe the service-profit chain, which identifies the drivers of profitability and revenue growth in service organizations. Customer loyalty is identified as the primary driver and in turn originates from customer satisfaction and service value. In turn, service value originates from employee retention and productivity, which both result from employee satisfaction. Employee satisfaction primarily originates from internal service quality, which enables employees to deliver results desired by customers. According to these authors, the results for customers that constitute service value are defined by the service concept, which is the central element of the service-profit chain.Several authors notice the increasing emphasis on the customer experience as part of delivering services to customers. According to Verma et al. (2002: 117), “[s]ome researchers argue that several developed nations have moved beyond the service economy to the experience economy“. Fynes and Lally 2008 agree on the growing importance of the experience element of a service and advocate progressing from mere service concepts to more explicit experience concepts. This notion puts increased emphasis on the service experience element of the service concept as described by Johnston and Clark (2005: 37-63).

Operational Service Development Management References

Davidow, W.H. & Uttal, B. (1989) ‘Service companies: focus or falter’, Harvard Business Review, 67                 (4), pp.77-85, Business Source Premier [Online]. AN: 8909250509 (Accessed: 4 October 2009).

Fynes, B. & Lally, A.M. (2008) ‘Innovation in services: from service concepts to service experiences’    . (eds.) Hefley, B. & Murphy, W. Service science, management and engineering: education for the                   21st century. SpringerLink [Online]. Available from:             http://www.springerlink.com.ezproxy.liv.ac.uk/content/v25632 (Accessed: 12 September 2009).

Heskett, J.L., Jones, T.O., Loveman, G.W., Sasser, W.E. Jr. & Schlesinger, L.A. (1994) ‘Putting the                  service-profit chain to work’, Harvard Business Review, 72 (2), 164-170, Business Source                     Premier [Online]. AN: 9405100929 (Accessed: 6 September 2009).

Johnston, R. & Clark, G. (2005) Service operations management: improving service delivery. 2nd ed.                 Prentice Hall: Harlow, UK

Kwortnik, R.J. Jr. & Thompson, G.M. (2009) Unifying service marketing and operations with service                   experience management, Journal of Service Research, 11 (4), pp.389-406, Sage [Online]. DOI:             10.1177/1094670509333595 (Accessed: 7 September 2009).

Levitt, T. (1976) ‘The industrialization of service’, Harvard Business Review, 54 (5), pp.63-74, Business              Source Premier [Online]. AN: 3867393 (Accessed: 4 October 2009].

Malhotra, M.K. & Sharma, S. (2002) ‘Spanning the continuum between marketing and   operations’, Journal of Operations Management, 20 (3), pp.209-219. ScienceDirect [Online]. DOI:        10.1016/S0272-6963(02)00019-0

McLaughlin, C.P., Yang, S. & van Dierdonck, R. (1995) ‘Professional service organizations and         focus’,Management Science, 41 (7), pp.1185-1193, JSTOR (Online) Available from:         http://www.jstor.org/stable/2632775 (Accessed: 28 September 2009).

Susan Meyer Goldstein, Robert Johnston, JoAnn Duffy, Jay Rao (2002) ‘The service concept: the                    missing link in service design research?’, Journal of Operations Management, 20 (2), pp.121-    134, ScienceDirect [Online]. DOI: 10.1016/S0272-6963(01)00090-0 (Accessed: 12 September         2009).

Ojasalo, J. (2001) ‘Managing customer expectations in professional services’, Managing Service          Quality, 11 (3), pp.200-212, Emerald Insight [Online]. DOI: 10.1108/09604520110391379     [Accessed: 15 September 2009].

M.V. Thakor & A. Kumar (2000). ‘What is a professional service? A conceptual review and bi-national         investigation’, Journal of Services Marketing, 14 (1), pp.63-82, Emerald Insight [Online]. DOI:         10.1108/08876040010309211 (Accessed: 15 September 2009).

Verma, R., Fitzsimmons, J., Heineke, J. & Davis, M. (2002), ‘New issues and opportunities in service   design research’, Journal of Operations Management, 20 (2), pp.117-120, ScienceDirect [Online]           . DOI: 10.1016/S0272-6963(01)00089-4 (Accessed: 16 September 2009).

Total: 20 errors ( body 5 additional indent and 1 spacing errors)
In text: 7 errors
In reference list: 13 errors (13 additional indent errors)