I’m attaching the pdf file and the instructions file.
SAMPLE ANSWER
The companies as mentioned above have a business relationship thus guarded by a contract. For the relationship to continue well, trust between the two entities must be guarded. According to the case study given, Symbol is the client and thus paying for the services rendered to it (Meredith, 2012). On the other hand, CONNECTCo is the one providing services. It should, therefore, give services that meet or are above the needs of its clients. In this case, it is shortchanging its largest client by charging for non-existent services. As its biggest source of revenue, the managers and staff at CONNECTCo should ensure proper procedures are followed for the client to be satisfied (Daft, 2014). The Internal Account Executives should be in line with the agreement, and the empty territories should be as written down. Steve Puhl, Vice President of Direct Sales at Symbol and Charlie Gallagher, Vice President of Canadian Operations should have a similar understanding of the contract they signed and any amendments made especially the most recent (Meredith, 2012). It will enhance proper understanding, and any hitch will be solved easily.
The management of CONNECTCo lacked moral responsibility due to their flawed accounting procedures and the fact that they were not adherent to the contract or its amendments. It is very evident from the first step Davis takes by approaching Gallagher to get to the bottom of some discrepancies (Meredith, 2012). Davis wanted to know to calculate the amount to be credited for the available open seats. It was due to some staff resources his company was to be supplied but had not and yet the client was paying for. Without any hesitation or any analysis, Gallagher just told Davis to use the lowest cost yet they had not received any hint to do so. It is despite the fact that Charlie had met the Symbol contact during a golf session. Even the usage of only nine words amazed Davis due to the seriousness of the issue he had posed (Daft, 2015).
A similar reaction met Davis when he approached McDonald the Vice President and Relationship Manager and who was in charge of the Symbol account. It showed that his greatest concern was the money to be charged notwithstanding any service rendered.
According to the contract signed on 1st September 2002, there were 275 IAEs but in the actual sense, 6 were empty territories thus not active yet CONNECTCo continued to charge the services (Meredith, 2012). Section 5.2 was amended on 1st October 2003 and stated that only 225 IAEs were agreed upon. However, on 15th December 2003, there was another amendment returning the IAEs to 275 (Daft, 2014). Then, there were three more open territories thus becoming 9.
In a meeting with McDonald and Charlie, they both told Davis to run to run the days including training days. It was to see the reduction of the money they had overcharged instead of thinking of refunding. A company with a profit of above 35% and could not refund less than 1% only served to reflect the greedy and corrupt nature of the management (Daft,2014).
Davis, as an honest staff, should not ignore this flawed process and should report to the top management. It is, however, risky since Charlie is the Vice President, and he may want to protect him by telling Charlie of the flaws. Still, in the management ladder, only Charlie reports directly to the CEO and his reporting may be seen badly (Meredith, 2012). If so, this may result to his sacking. It is a risk considering the plight of his girlfriend’s concerns. However, he can cushion himself this risk through informing everybody involved of the financial risk involved. Also bearing in mind that Symbol is their largest client. Still, no member of the management would like to see CONNECTCo a bad image suffers like Enron and Adelphia (Meredith, 2012).
References
Daft, R. L. (2014). Management. Australia: South-Western Cengage Learning.
Meredith Belbin, R. (2011). Management teams: Why they succeed or fail. Human Resource Management International Digest, 19(3).
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The case you will analyze is, “Case 30: Yahoo! Inc.: Marissa Mayer’s Challenge.” In preparation for your case analysis, read “Guide to Strategic Management Case Analysis” in the text, which provides valuable advice on how to analyze a business case.
Your paper needs to include at least two charts, graphs, or visual aids to support your points.
I can scan over to you the Guide to Strategic Management Case Analysis.
SAMPLE ANSWER
Marissa Mayer’s Challenge
Introduction
Plagued with adverse management challenges, failed business strategies and evident loss of industry dominance, Yahoo! Inc appointed Marissa Mayer to head the organization, in the hope that she would re-invent it to its former glory. Having worked as an executive at Yahoo greatest competitor Google, Mayer is expected to bring in her expertise to address the challenges at the organization. Mayer faced a significant number of challenges including the need to change Yahoo’s culture towards greater innovation, less bureaucracy and higher employee productivity; low financial performance in comparison with other players in the market; and the management of funds obtained from Yahoo’s sale of its share at Alibaba. Mayer was expected to steer the company towards a stable direction, having experienced a major leadership crisis leading to constant change of CEOs, especially within the last five years. This case study will address some of the challenges and problems that Mayer faces, with an objective of suggesting workable recommendation for Mayer and Yahoo.
Yahoo’s Background
The determination of two Stanford University students, Jerry Yang and David Filo, to find a means of tracking their favorite web pages on the internet marks the genesis of Yahoo Inc. In February 1994, Yang and Filo developed a list of websites and as the list got longer, they categorized them into subgroups for easier management. This was later followed by the development of the Yahoo! Website, which the pair came up with as a means to categorize their growing list and enable easy search of the websites. The search engine eventually gained popularity among friends and other students as a way of finding websites on the internet.
In the fall of 1994, the duo began considering the venture as a business opportunity, when the site eventually reached a millionth user hit. Having obtained venture capital to get the business going, Filo and Yang appointed Motorolla veteran, Tim Koogle to head the business as CEO. Yahoo recorded exceptional growth, providing the earliest World Wide Web online navigational guide; before using its platform to sell advertising space. In April 1996, the company went public and soon after expanded into Europe and Japan, forming Yahoo! Europe and Yahoo! Japan; which would ensure that the company offers its services to users worldwide.
By 2001, Yahoo was employing 3,000 people, making over $717 million in annual revenues and owned 24 global properties. Appointed in 2001, the new CEO Terry Semel led Yahoo into new ventures and the company consequently gained revenues from music, photo sharing, blogging and posting. Over the years, Yahoo continued to develop new products in line with market needs and competition. Yahoo mostly generated revenue from advertising space, listing fees and transaction fees. Major products included Yahoo! Homepage, Yahoo! Finance, Yahoo! News, Yahoo! Sports, Yahoo! Shopping, Yahoo! Answers, Yahoo! Travel; all which are updated with content to ensure traffic to the website. Management of Yahoo’s global business is done geographically and consists of three segments including the Americas, Asia Pacific and Europe, Middle East and Africa (EMEA). To increase its reach, Yahoo had sites in forty five languages across sixty countries.
Problem statement
As Merissa Mayer enters Yahoo as the CEO, she is faced with various issues, which she must address to prove her ability to revolutionize yahoo. To begin with, Mayer comes into a company which has been managed by numerous CEOs and the biggest challenge remains giving a new and stable direction from the company. As the fourth CEO in 2012 alone, Mayer is faced with the challenge of establishing which direction Yahoo should take, having been steered to different directions by the various CEOs (Tsukayama, 2012). There are high expectations that Mayer will turn the company around, given her expertise and pressure is therefore on her to deliver.
Yahoo faced stiff competition from new entrants, with Google proving to be the biggest threat. Combined with low economic times, Yahoo’s performance deteriorated and company even laid off some employees in 2008 and 2010. The company struggled with management crisis over the years, constantly changing the management in a bid to revive the company. Jerry Yang would later replace Semel as CEO in 2007 and later pave way for Carol Bartz, who was then followed by Tim Morse and Scott Thompson in quick succession. Yahoo’s competiveness failed to improve despite the various strategies adopted by the various CEOs. It also faced a significant amount of internal politics and investor unrest that caused constant ripples in the organization’s operations. Microsoft made several attempts to acquire Yahoo but their bids were considered undervalued.
The financial performance of Yahoo has been declining over the years and while the company performed exceptionally well during its initial years, the share price has slowed down considerably over the years. This can be attributed to high levels of competition as well as lack of innovation in strategy, causing the firm to lose to competitors including Google and Microsoft.
The graph below indicates the stock price trend during the tenures of various CEOs in Yahoo’s history.
Essentially, Marissa Mayer is faced with various challenges including the following:
Enhance efficiency at the organization and change the corporate culture in order to promote performance
Deal with the high level of competition in the industry
Deal with redundant policies, processes and bureaucracy
Guide the organization into forming an identity; either work focus on being a technology firm or a media firm
Establish the best manner to invest the proceeds from selling half of its investment at Alibaba
Promote growth by targeting new markets
Alternative solutions
Marissa could begin by working on the organization’s culture to eliminate the redundant policies, processes and bureaucracy that threaten innovation and creativity. Beltrán-Martín and Roca-Puig (2013, p. 646) notes that employees are more likely to be flexible and innovative where they are given an open environment to work in and where their capabilities are not limited by bureaucracies. Mayer should encourage direct interaction with employees and ensure that each creative suggestion can be accommodated. In addition, she must instill a working culture that enables employees to be creative and proactive in their work in order to ensure that the company keeps up with other companies such as Google which fosters a creative culture Lowe (2009, p. 9). A change in culture would certainly face resistance as employees adjust to the new policies, hence the need to introduce change gradually.
Yahoo needs to focus on one strategy and excel on it as opposed to taking on a variety of products and having average or poor results. As much as diversification spreads risk for the company however, specialization is also considered effective because it allows the management to focus all its energies into enhancing success of the chosen product. Yahoo for example could focus on search and thus work towards marketing itself as a niche solution when it comes to search. The company could also focus on being a media company, and follow this strategy to excel in this field. While this strategy is effective in promoting a focused organization, it is apparent that the internet business is highly competitive and specialization may limit the organization’s earnings (Chickowski, 2008, p. 12-13). Furthermore, Yahoo already possesses skills and expertise in a wide array of internet solutions and it would be inappropriate to let go of all the investment they have made. In this regard, the solution would be to select a few number of businesses that are performing well and concentrate on these to bring more revenue to the company.
Mayer should leverage on the growing mobile platform to reach more users through Yahoo. Statistics indicate that more users than ever are accessing the internet through their mobile devices and this is expected to grow Fulgoni (2015, p. 116). This is indicated in the graph below.
Source: eMarketer, Dec 2014
The best solution would be to create content that correlates with what mobile users search for online. While this solution promises better user reach, it is important for Yahoo to realize that that every other internet-based organization is eyeing this strategy as a means to promote business, hence the need to be very innovative in their approach Chickowski, 2008, p. 13).
Mayer should use her strengths at search, acquired from Google to promote Yahoo’s performance in this sector. Mayer headed the Google’s search business for a significant number of years and therefore possesses the right skills of knowing what users want to see on the internet. She should then guide the organization into adopting the right skills to promote content development and thus increase traffic to Yahoo. This would not only increase the amount of advertising revenue but it would eventually lead to an improvement in the company’s share price. This approach like the any other means that the organization must face competitors, through coming up with innovative strategies to create a niche.
Mayer needs to increase the quality of the workforce in order to realize better organizational performance. It is clear that the industry has become highly competitive and the productivity of workers at Yahoo is questionable as indicated in the in the case study. This also includes providing extensive training for staff and research to ensure that the company possesses knowledge on the most current trends. In order for this alternative to work, Marissa must be willing to sacrifice some of the inefficient hiring policies as well as ineffective workers. This may create unrest within the company if now well executed.
Proposed Solution and Recommendations
The above suggested solutions present highly valid strategies that Mayer could adopt in creating a more productive Yahoo. The most suitable solutions based on the discussion above would be to change the organization’s culture, encourage innovation and productivity among employees and focus on mobile technology as an avenue to gain a niche in the online market.
As Mayer undertakes a change in Yahoo’s culture, promoting an innovative culture for employees should be a major priority. By allowing employees to be creative, eliminating irrelevant policies that limit innovation and maintaining an open door policy, Mayer could soon transform Yahoo through the employees’ potential (Tampu, 2015, p. 45). In an online study conducted by Ideacomb in 2012, it was established that talent management to a significant extent determines the innovation level in any industry. The report further established that most employees were not comfortable with the idea of the CEO being the only one responsible for innovation and would therefore desire to participate. Based on the responses obtained from the survey, employees are motivated to be more productive and innovative when they are recognized by the management and when they are given an opportunity to participate in the innovation process. The graph below is an indication that allowing employees to be innovative is a source of motivation.
In order to promote productivity, Mayer should go ahead with her plan to review all new hires to establish their potential and ensure that they will deliver quality work for the organization. In addition, she should ensure that the level of commitment among employees in the company is increased considerably within the organization. To achieve this, employees can be put under performance programs, aimed at assessing their contribution to the performance. Through this program, Yahoo will ensure that only the productive employees are maintained while inefficient ones are eliminated.
The mobile user platform promises great potential for Yahoo and Mayer should consider this as the next business for the organization. This involves identifying the content that mobile users are interested in, and thus work towards tailor-making the internet experience to suit mobile users. Through creating new applications and focusing on social media as a medium for reaching mobile users, Yahoo could transform into a media company that will derive significant gains from the mobile user population. Social media is a particularly fertile ground in reaching mobile users and Yahoo could create content that targets users of popular social sites such as Facebook, Twitter, YouTube, Pinterest, Reddit, Tumblr, Foursquare, LinkedIn and its photo sharing social media platform Flickr and among others. The traffic created could then be used to sell advertising space, thus earning the company its former glory.
Managerial accounting systems are quite complex in reality and require consideration of a wide range of issues, including how they must integrate with enterprise resource planning systems and financial reporting systems, and how managers and employees are evaluated and compensated based on performance.
For this Discussion, you will focus on the core theoretical aspects of managerial accounting systems, which can be viewed in a relatively simple way: an optimal managerial accounting system captures, reports, and analyzes data in a way that allows users to identify the causes of deviations from expected plan outcomes. As you will see, this requires a close correspondence between the data and information used in planning, and that used in control.
To simplify this Discussion, it will be helpful to isolate components of plans, outcome measurements, and controls, and analyze them separately. For example, when discussing a planning-control feedback loop for revenues, you might examine revenue forecasting/budgeting, accounting measurements, and performance variance analysis individually.
Discussion—Week 6 (D-W6)
Participants:
By Day 5 of Week 6, respond to the following in precise, well-defined terms, and with reference to this week’s Learning Resources:
•Analyze how an organization’s forecasts, budgets, revenues, costs and cash flows correlate with one another. What additional data should be captured and reported in a managerial accounting system? Why?
•Analyze the role planning factors play in driving profits. Explain how data reported by the managerial accounting systems can be turned into information relevant for adjusting future plans. In other words, how is the data used in developing information required to operate an organization’s planning-control feedback loop?
Assignment #2 (2 pages)
Dynamic Adaptation of Managerial Accounting Systems
Organizations, their objectives, and their economic environment have been undergoing increasing rapid change in recent years and there is no theory or evidence to suggest that this trend will change. Accordingly, consider how such changes influence the optimal design of a managerial accounting system, and begin applying your qualitative and quantitative research skills conceptually to your knowledge of managerial accounting systems.
For this week’s Discussion, it is important that you maintain both a theoretical and managerial economic perspective on the topic. The research methods covered this week will allow you to explore factors normally considered outside the boundaries of managerial economics, so you can frame your Discussion without any meaningful loss of generality.
By Day 5 of Week 8, all students will respond to the following in precise, well-defined terms, and with reference to this week’s Learning Resources:
•Analyze at least two causal factors for changes in organizational objectives, revenues, costs, and cash flows, using managerial economic theory.
•Explain how qualitative research methods can be used for identifying causal factors driving revenues, costs, and cash flows.
•Explain how quantitative methods can be used for identifying causal factors driving revenues, costs, and cash flows.
•Describe how the causal factors driving revenues, costs, and cash flows affect the optimal managerial accounting system design.
Please complete both assignments individually / separately and also follow instructions
SAMPLE ANSWER
Managerial Accounting System Design
A Managerial Accounting System is a system used to gather the information that is necessary for the administration to evaluate the performance of various organizational resources while satisfying the organization’s strategies. An accounting system design involves the process of planning and implementation of an accounting system that is used to record, store and access the organization’s monetary resources to implement organization strategies.
This existence of such a system is meant for the better and efficient administration of the accounts of a business organization with the motive of attaining the objectives of the organization.A Managerial Accounting System provides financial reporting systems and enterprise resource planning systems of how employees and managers are evaluated and managed based on their performance.
The information in these systems is important to managers as well as the involved stakeholders since it is used for the effective decision-making process and accountability purposes. The accounting information available is essential in providing security information and predicting the economic growth(Ward, K. 2012). It is also used for performance evaluation based on quantifiable evidence.
Therefore, planning and control of Managerial Accounting Systems should predict contracts in the design process and provide a theoretical explanation of why such contracts are incomplete under property organizations. Management control is the process of assuring that the company’s resources are obtained effectively in the accomplishment of the organizational goals. Managerial accounting systems provide necessary material in which the outcome of the decisions are measured through managerial accounting. A cycle of data is then created through analysis of the reported results. The analyzed report is then developed for the purposes of strategic planning of the organization where factors such as finance, tax, and social contests are put into consideration.
Managerial accounting systems are used in the provision of relevant information. These results are reported and analyzed creating a cycle of information. The outcome of the decisions is then measured through supervisory accounting(Bedford, D., 2015). It is necessary for these decisions to be developed within the premeditated planning of the organization and take into account other factors.
A noteworthy subject of managerial accounting costs examination. Implementing such a system would prove to be quite costly. However, the debate of cost efficiency is in contention theory. A simplified example of an ideal managerial accounting system is revealed by the secondary school accounting system. Schools handle school fees by distinguishing between adjustable and stable costs(Cadez, S., & Guilding, C. 2012).They also reveal more details in their cost study. In an outdated costing model, there were single cost drivers, but this model is now considered inadequate for the current rapidly changing business environment.
Dynamic Adaptation of Managerial Accounting Systems
For the purposes of quality managerial accountability, Managerial Accounting systems have to be well adapted to the business entity to meet the user requirements. These systems need to have a credible functionality and well suited in their functionality.
A managerial accounting system must therefore adapt in the rapid changes of the organization. This is meant for the organization’s existence and survival in the nearby future and its continuous growth and expansion. The major causes for the dynamic adaptation of these systems include globalization, customer preference and the changes in technology. Due to these reasons, companies strive to make the existent systems adapt to their existing businesses(Becker, J., et al 2013) Organization which fail to adapt to these changes face extinction in the ever competitive market.
It is for these motives that businesses try to meet the needs of the stakeholders in their entities to be able to subsist in the long run. Therefore, this means that the goals of the employees and stakeholders must be met for credibility purposes and to ensure that the business meets the market needs. To elaborate this, the organization should attempt to counter the reasons highlighted previously to meet its goals.
Changes in technology must be realized and swiftly adapted to meet the ever growing customer needs. This entails strategies of changing or updating the existing systems with respect to technological advancement to cater for customer needs. The invention and application of the internet enables businesses to interact with the customers and other parties that are associated with the organization.
This is essential in creation of rapport between the organization and important individuals that contribute to the growth of the organization. Moreover, communication links should not only be existent but efficient in their functionality. It is vital that these systems support good communication especially within the organization to meet its objectives(Yigitbasioglu, O. M., & Velcu, O., 2012)
It is important to note that for the survival of any system, customer needs must be met. This is usually prompted by customer preference which is bound to change with time due to the diversification of user needs. Therefore the accounting system should be quite flexible to meet the changes for the organization to realize its goals and meet it objectives(DRURY, C. M., 2013). The system should be able to keep record of these changes and maintain its credibility with the organizational specifications.
Globalization tends to have an impact on such a system in society. Accounting plays a big role in the business which aims in achieving its priority goals. A Managerial Accounting System measures the events of an organization in monetary value and is essential in predicting the market trends .It is through this that business transparency is realize
References
Becker, J., Kugeler, M., & Rosemann, M. (Eds.). (2013). Process management: a guide for the design of business processes. Springer Science & Business Media.
Bedford, D. S. (2015). Management control systems across different modes of innovation: Implications for firm performance. Management Accounting Research, 28, 12-30.
Cadez, S., & Guilding, C. (2012). Strategy, strategic management accounting and performance: a configurational analysis. Industrial Management & Data Systems, 112(3), 484-501.
DRURY, C. M. (2013). Management and cost accounting. Springer.
Ward, K. (2012). Strategic management accounting. Routledge.
Yigitbasioglu, O. M., & Velcu, O. (2012). A review of dashboards in performance management: Implications for design and research. International Journal of Accounting Information Systems,Managerial Accounting System Design
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Utility and relevance of operational management topics to the contemporary business environment
Order Instructions:
Evaluate the utility and relevance of any one of the operations management topics to the contemporary business environment.
you must demonstrate an understanding of the theoretical concepts and frameworks in the chosen operations
management topic, this assignment requires a critical evaluation/ analysis of a topic “very important”
I need more analytical material rather
than descriptive material, one or two diagrams if required only
Please ask the writer to send me a couple of topics to choose from and the structure of the research paper as well to confirm before starting.
SAMPLE ANSWER
Characteristics of quality:
• Performance
It includes the main attributes of the product. The features should conform to customer’s expectations and needs.
• Aesthetics
feel, smell, taste and appearance should be unique and customer oriented to have a high market penetration since the competitors are also trying to follow the same plan.
• Special features
special features such as extended warranty, specific customer design including specifications such as printing customers name on a t-shirt or the cup of coffee.
•Conformance
How well the product conforms to design specifications. The product should be of standard as per designer’s requirements and customers’ expectations. The way a product is designed translates to good or poor quality.
• Reliability
Consistency of performance. Customers expect that a product will meet their needs. When the product is reliable, the customers will be loyal leading to more production, new market entrance, and consequently a high market share in the dynamic market environment
• Durability
The useful life of the product. A durable product is a quality product. Customers always seek for quality products as they seek to increase their savings and reduce expenses. The customers always remain loyal to an organization that assures them of quality products.
• Serviceability and responsiveness–
After sale service is a form of quality assurance. Managers should ensure proper tools are in place to handle customer’s complaints.
• Consistency
Good quality products should always be present.
Quality management is not a one-time process and it’s influenced by many factors. It is therefore through total quality management that quality is assured. Every person in the organization has a role to play in bringing out all the needed quality features.
Masaaki (2015) also added that Quality is determined by design, conformance, ease of use, and after sale services:
Design quality:
It refers to the decision by designers to either include or exclude attributes in a product. The design of the product is the starting point for product quality. The size, shape, and place of the issue is determined in the design phase. Quality is assured when the designers seek customers view on products before designing. Another features in the design phase are the costs incurred in the production, availability of machinery, the time taken for design, safety. When the design phase is expertly handled, quality of the product will be assured, the poor quality design can cause the company a lot in terms of costs as well as image and market share. (Masaaki, 2015)
How easy it is to use the product:
Another feature of quality is the ease of use. The easier to use a product or service is, the higher the quality of the product. When designing the product, attention for the use of the product should be put in place. Consumers like products that are not complicated and time-consuming in terms of use. When there is no ease of use, an organisation will lose consumers, sales will decrease, will get return of goods, or even face legal problems as a result of injuries. Directions for use of the product, assembling, unpacking, maintaining, adjusting the product and what to do in case something goes wrong should be included. The easier to use a product is, the higher the quality of the product and the higher the chances of survival of the organisation in the modern market. (Masaaki, 2015)
After-sale services
Services that are offered to customers after the sale of the product are also determinants of product quality. Demonstration on the use of the technical products should be done by sales people or the technicians to avoid product failure or injuries. At times when a product fails, after-sale service is needed. The service can be in the form of repair of the product, replacement, recalling the product, adjustment or evaluation of service use. Consumers appreciate organizations that are dedicated to offering after sales services. To have after sale service is a good reputation of the company and it improves the image of the company. (Masaaki, 2015)
Benchmarking
Hoyle and David (2007), argue that if a company wants to meet the current market requirements, quality control managers have to benchmark themselves against competitors. Apple Inc being the second largest telecommunications company would have to compare its production strategies with Samsung Company. After benchmarking, the firm will need to come up with unique ways that will differentiate its products with the competitor. The steps used in benchmarking are:
Identification of the process that need improvement: Going through the phases a product goes through to identify the loophole that needs fixing. It might be design, production, or sales process. (Hoyle and David, 2007)
Match the need for improvement in the organization that is best at the process: Identify the organization that known for producing good results in the process that need to be improved
Research the organization
Gathering information the other organization uses for the process
Analyse the information
Assessment of the information is done to determine the most effective way to go about the improvement process
Improve process
Having come up with a strategy gap, assessment is made on how to go through the implementation of the new idea for quality improvement. To stand out in the market, expertise is needed so that the new idea brings out a unique form. Correct implementation leads to quality improvement and consequently better chances of outdoing the main competitors in the market.
High quality gives an organization a competitive edge and ensures that it remains profitable in the current market. Other advantages of good quality are;
Improvement in the company’s reputation in the market leading to high productivity.
The liability costs are minimized since the company can pay its debts.
Increase in customer loyalty and customer satisfaction that leads to increased sales and profitability. (Hoyle and David, 2007)
The main contributors for the total quality management are the senior managers. In the operations department, quality control managers come up with strategic plans for quality, implement tools necessary for quality improvement, guide and motivate employees.
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The Effects of Human Resource Management (HRM) Practices Paper
The Effects of Human Resource Management (HRM) Practices Paper
The Effects of Human Resource Management (HRM) Practices Paper
Order Instructions:
Doctoral Study Proposal Draft: Your Research Problem and Social Change
Topic is The Effects of Human Resource Management (HRM) Practices on Employee Performance.
As part of your Doctoral Study Proposal, you will articulate the potential ways in which your proposed research project will positively affect social change. Keeping your goals in mind, and thinking about the literature that you have reviewed, you should be able to formulate a clear statement of the problem you have identified for your doctoral study research. Recall that a research problem worthy of a doctoral study must be broad enough to be significant to others outside your immediate school community. It must also be specific enough, however, that a research project can be designed to examine it.
• Discuss how your research problem is sufficiently significant to be of interest to leaders who have a goal of positive social change.
It is important that the writer pay attention to all details in this order and follow how to formulate a clear statement of the problem you have identified for your doctoral study this is critical and the writer must follow all instructions here.
Also APA and in text citations critical for this papers as the writers have previously ignore this and I am getting very bad feedbacks in regards to that. the writer must use in text citations for all my papers.
SAMPLE ANSWER
Human Resource Management
The performance of most organizations is affected by the performance of their employees. Such organizations that want to be successful have to understand that a working human resource organization is an essential aspect of that development. It has been observed that the success of any company is dependent on the behavior and the decisions of its employees. Other contradicting factors like how big the company is and the mature of its environment may be hindrances to organizational success. For this reason, human resource management practices are used to evaluate employee performance in an organization. Improving the human resource management practices has been proven successful in improving the performance of employees (Boyne & Entwistle, 2009).
An employee uses their skills, abilities, knowledge and overall experience to complete assignments by their managers and employers in an efficient and effective way. The benefits of the performance of employees can be on several key factors. They can assist in estimating and controlling the cost of the resources that were used to perform specific tasks. They can also be helpful is assessing the quality and even the amount of work done. HRM practices in employee performance can be of assistance in the survival and interaction between organizations and departments. Besides, they can help in the assessment and attainment of performance goals that also help in the making of good decisions (Andresen and Nowak, 2014).
Some of the proven methods of evaluating the performance of employees can be based on getting a strategy that identifies employee characteristics that are beneficial to the organization (Boyne & Entwistle, 2009). Another practice that is of importance is one that assesses their behaviors that affect how effective they will perform a task. In addition, HRM practices that can also be employed are those that show whether goals and objectives of a job have been met.
The effects of Human resource management on the performance of employees depend on how the employees respond to them. They will tend to bend towards the perception of these employees towards these practices by HRM. The impact of human resource management will influence how effective the employees are. Human resource practices in the hiring and training of staff influence the effectiveness by providing the required skills. The adoption of appropriate selection practices will subsequently add value to the overall organizational productivity. Training is seen as a tool that is useful for improving the performance of employees in any organization (Ingley, 2015).
The planning for career seems an efficient practice by HRM to affect the influence the performance of employees. When employees are allowed in increasingly participating in the firm, there will be an observable increase in the levels of production (Price, 2011).
Practices that are geared towards the compensation of employees for their efforts in a firm have proven to have motivational and attraction factor to employees. Regarding the expectancy theory, it can be argued that the performance of an employee or a group of them will directly be influenced by the pay (Andresen and Nowak, 2014). Employees, therefore, will work hard to increase their efforts in a bid to get a better pay. Increased employee performance by compensation will lead to the overall rise in the performance of the firm. This practice’s effects can be increased by channeling more resources towards employees’ compensation based on how well they perform. This practice is the most widely used practice in HRM as it gauges and rewards staff for their performance (Price, 2011).
The implementation of the best human resource management practices equates a higher performance by the employees. This good performance is transferred to the overall success of a company. Proving these theories in HRM practices and their effects on the performance of employees should thus be a priority of many human resource based studies. Results will encourage many organizations to adapt quickly many of these practices to increase their overall productivity. By the development of a highly effective workforce, the organizations will have achieved double success by improving the overall welfare of their workers and the organizations productivity success (Boyne & Entwistle, 2009).
References
Boyne, G. A., & Entwistle, T. (2009). Public service improvement: Theories and evidence. Oxford: Oxford University Press.
In Andresen, M., & In Nowak, C. (2014).Human resource management practices: Assessing added value.
Ingley, C. (2015).Proceedings of the 3rd international conference on management, leadership and governance. Place of publication not identified: Academic Conferences &Pu.
Machado, C., & Davim, J. P. (2014).Work organization and human resource management.
Price, A. (2011). Human resource management.Andover: Cengage Learning EMEA.
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Management and leadership development
This week’s Key Concept Exercise asks you to think about and discuss how leaders and managers are developed in organisations. Rather than simply considering the strategies and techniques that are used, you are asked first of all to think about how management and leadership are conceptualised.
Use some of the ideas from this week’s reading about the nature of management to frame your thoughts and responses.
Next, reflect on your own learning and particularly on how organisational arrangements for talent development have helped or hindered you.
To prepare for this Key Concept Exercise:
•Consider the nature of management.
In an approximately 830 word response, address the following issues/questions:
•Analyse how management and leadership are conceptualised in a number of different ways.
•How are leadership and management talent developed in your organisation?
•Is learning underpinned by a normative ‘management by numbers’ approach and/or is the political, social and economic context in which managers operate acknowledged?
•How are you learning to become a better manager, and how has the underlying approach of your organisation helped or hindered your development?
SAMPLE ANSWER
Management and leadership development
In real life, the practices of leadership and management have been interpreted and defined in different terms. This diverse definition of the two practices, makes necessitate the need to understand the meaning of the two practices Boyatzis, (2008). Thus, in this paper I will uniquely explore different conceptualization of management and leadership practices. In agreement with Nienaber, (2010), most of the concepts are misleading and have neither a basis nor foundation. Besides, I will look into different techniques or procedures that are employed by institutions in leadership and management development.
First thing in conceptualization, there is a need for understanding the real meaning of the terms leadership and management before embarking on any form of misleading perception. A good example of this is portrayed in the classical management theory, which illustrates with examples the technical perception Nienaber, (2010). This scholar explains how there is a dominating idea of the role played by the managers in an institution, which are planning, coordinating, and controlling. Thus, it makes the managers take credit for the ordered organization environment.
Secondly, there is the political perspective on management, which stresses on the ideas of the plurality of interest groups, and their research lies in finding out the sources of power and conflict in an institution set up. This makes the institution look like a political arena where the managers seek to understand which side in the organization power rest. The third is critical perspective which is nowadays referred to as the labor process school of thought. This perspective underpins the wear out of the society that the managers should develop Canals, (2014).
The last but not least perspective is that view management as a social practice. Herein, the management is in a messy state and no chronological order like in the classical perspective case. This makes the organization’s management tasks to be carried out by different people.
On the question of leaders and managers development, my institution adopts different development strategies to execute this task. The first frequently used method is practice-based learning. Learning from experience (during the work), is considered as the most essential and crucial way that leaders and managers are developed. This is because it creates room for questioning the underpinned assumption and also new thoughts and ideas to emerge Boyatzis, (2008). This makes the person learning gain a lot of experience through participation, which is better compared to reading books or manuals.
The second leadership and management development strategies that the company utilizes are training events. These are conducted in the form of workshops that equip the participants with theories, models and ideas that are considered best practices Canals, (2014). At the end of the workshop, there are set objectives to be achieved, and in most cases, they are set to assess the understanding of the participant. In addition to this, the organization can sometimes offer job promotions, which call for leadership and management development. Through this opportunity is created for the development process.
In case of leadership and management, the learning process is underpinned by the normative ‘management by number’. This means that those in leadership and management posts seek to find the source of power and conflict in the organization Casey, (2013). This move helps them to secure their position in the organization. This also helps them pass some of the agendas that are in their favor. Besides, it makes them stronger in competing for the limited resources in the organization and also use the authoritative power to allocate resources.
On the other hand, the political, social, and economic context of the managerial operation are well acknowledged in the society. The managers of firms play a vital role not only at the economic level but also at political and social level Chin, et al. (2013). They participate in the important development of the society in ensuring that there exists a corporate social responsibility, through upholding the organization’s objectives and core values. Politically, in most cases, they help in swaying power from one political party to the other. Thus, this makes them acknowledged in the society.
In my learning process of becoming a manager, I have adopted the coaching strategy for my leadership and management development. This has helped in covering some areas that could have been hard to get from published literature. This has been a result of a one-one talk with experienced managers, and they have been bombarding me with long time gained experience. In addition, it has been an excellent approach since most of these managers talk out of the experience and not necessarily learned theory.
This method has been of great help since most of them have gained confidence in the competence in management and leadership skills. They have also introduced me to other possibilities that can assist in achieving my goals in leadership and management journey. Thus, I strongly agree that this strategy for leadership and management development is helpful for it impacts direct knowledge from the horse’s mouth (firsthand information). Not to mention, how the mentors have recommended other seminars and workshop that has also improved my management skills.
Reference
Boyatzis, R. E. 2008. Competencies in the 21st century. Journal of management development, 27(1), 5-12.
Canals, J. 2014. Global leadership development, strategic alignment and CEOs commitment. Journal of Management Development, 33(5), 487-502.
Casey, C. 2013. 2 New Organizational Cultures and Ethical EmploymentPractice 1 A CriticalDiscussion. Business Ethics in Theory and Practice: Contributions from Asia and New Zealand, 13.
Chin, M. K., Hambrick, D. C., & Treviño, L. K. 2013. Political Ideologies of CEOs The Influence of Executives’ Values on Corporate Social Responsibility. Administrative Science Quarterly, 58(2), 197-232.
Identifying and assessing the process of planning and managing change within an organisation
Order Instructions:
Identify and assess the process of planning and managing change within an organisation.
What role should HR play in change management?
SAMPLE ANSWER
Process of planning and managing change
Business transformation and change is often difficult and involves changing organization culture and employees attitude towards accepting new way of doing things in the organization. Change management refers to organization practices and structured procedures that management of an organization adopts to lead people towards achieving a new vision or the stated goals of an organization (Cummings & Worley,2014). The process of planning and managing change begins by understanding the employees and their capacity to change. According to Hayes (2014), change management process encompasses three stages as follows:
Change preparation: This stage entails the preparation, assessment and strategy formulation. The leader in charge of the change process has to define the change management strategy and prepare the change management team. This preparation is done in readiness to carry out the required organizational direction in alignment with the corporate level strategy, and finally the change management leader has to develop the sponsorship, model.
Managing change: Phase 2 involves thorough planning and proper management and implementation of change process. The management team in this phase develops change management plans, take action on decisions made on earlier phase and implement plans on the functional level and operational level of the organization.
Reinforcing change: The last phase involves data collection, corrective plans, and acknowledgment. In this level, the management has to collect and analyze data from relevant departments. On the same note, the management also looks out for challenges that the team is facing and develop strategies that help to manage resistance from the employees.
The responsibility of Human Resource Management in change management process
Human resource management plays a critical role in change management because many of the issues tackled concern the people’s aspect of change. The human resource has the responsibility of ensuring that employees are motivated to undertake and participate in the change management program (Kuipers et al., 2014). The human resource department is also responsible in aligning organization goals, with the change management process.
On the same note, Human resource has to ensure that impetus for implementation of change at every managerial level is available such as the provision of structured framework for change. Furthermore, the management must provide mechanisms of aligning the management concerns with those of the employees (Raineri, 2011). This is achieved by identifying and establishing a workable change management process and finally Human resource management has to reinforce change management communiqué as a means of attaining the desired change.
In conclusion, Managing change as a progression from an organizational point of view helps to make certain that the right actions are taking place at the right moment. And those workers are gaining the right information they require to proceed through their personal process of change. The three processes is a sequence that in the end ensures that change impact is seen in the organization’s performance. Human Resource Department plays a primary role in managing and overseeing the change process. This role is imperative as it helps to align organization goals, change objectives, and the change process to ensure a smooth transition to achieve organization sustainability.
References
Cummings, T., & Worley, C. (2014). Organization development and change. Cengage learning.
Kuipers, B. S., Higgs, M., Kickert, W., Tummers, L., Grandia, J., & Van der Voet, J. (2014). The management of change in public organizations: A literature review. Public Administration, 92(1), 1-20.
Raineri, A. B. (2011). Change management practices: Impact on perceived change results. Journal of Business Research, 64(3), 266-272.
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PART A: Individual Component (5%)
This is a research assignment and requires the use of independent, academic research. In your group assignment you have been asked to use Net Present Value analysis to analyse Beaver Tales Pty Ltd. Why would a financial manager feel more confident using NPV analysis than the discounted payback period method? Is there potentially a better method to undertake such an analysis?
You will be assessed on the following criteria:
1. Strength and relevance of arguments presented. This will include the persuasiveness (including breadth and depth) of the arguments presented. Any material needs to be structured in a logical manner to enhance your arguments. (3 marks)
2. Depth and Quality of research undertaken to support your arguments (1 marks)
3. Grammar, spelling and referencing style (1 Marks) Assignments should be succinct in their language and arguments.
You are required to submit the following:
1. You are required to submit an assignment of no more than 300 words by the due date. Any words beyond this limit will not be marked.
2. You are required to display the word count on the front page of your assignment.
3. You are expected to submit a file using 12-point double spaced Arial font.
4. You are encouraged to research this topic well in advance of preparing to write your submission.
5. You are required to reference using the Harvard Referencing style.
6. References should be from credible sources (Note: Wikipedia and Investopedia are not acceptable).
SAMPLE ANSWER
Introduction
The payback method is a capital budgeting process where the period taken to recover the initial amount is calculated. The discounted payback method differs from the payback method as it utilizes discounted cash flow system in its calculations.
The discounted payback system has limited relationship with wealth maximization concepts. Net Present Value estimates all the future cash inflows and outflows as it also discounted to the present value. Positive NPV adds real economic value to the cash flows in a company. NPV is one of the most reliable capital budgeting techniques presently (Hermanson, Edwards & Invacevich, 2011).
Beaver Tales Pty Ltd
Beaver Tales Pty Ltd
Capital Budgeting
Capital Budgeting
Discount rate
15.00000%
Discount rate
15.00000%
Year
Cash flow
Year
Expenses
0
-15,609,792
0
0
1
4,470,000
1
7,143,000
2
4,498,000
2
2,267,726
3
4,529,650
3
2,267,726
4
4,565,413
4
2,267,726
5
4,605,807
5
2,267,726
6
4,651,415
6
2,261,264
7
4,702,891
7
2,261,264
8
4,760,966
8
2,261,264
9
4,826,464
9
2,261,264
10
4,900,302
10
2,261,264
PV for future Earnings
$23,085,154.42
PV for future Expenses
$15,609,791.75
NPV
$7,475,362.67
The above calculations indicate that the NPV is positive and the project would be profitable and viable. All positive NPVs represent projects that are viable but projects with negative NPVs should not be undertaken.
Discounted payback system
PV for Exp
33217430.05
6,211,304.35
27,006,125.70
1,714,726.62
25,291,399.08
1,491,066.63
23,800,332.45
1,296,579.68
22,503,752.77
1,127,460.59
21,376,292.18
977,607.01
20,398,685.17
850,093.06
19,548,592.11
739,211.35
18,809,380.76
642,792.48
18,166,588.28
558,949.98
17,607,638.30
The total expenses for the Beaver Tale Pty ltd amounted to 33,217,430 while the total earnings for the project for the next ten years would amount to 46,510,906.25. The figures when discounted at 15% for ten years periodically would amount to 17,607,638.30 as the negative balance under discounted payback period.
The discounted payback suggests that the project is unviable.
Reference
Hermanson, R.H., Edwards, J.D., & Invacevich, S.D. (2011) Accounting Principles: A Business Perspective. First Global Text Edition, Volume 2 Managerial Accounting, 37-73.
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Non-financial segments of total reward that managers may face challenges in implementing
Order Instructions:
Identify three nonfinancial segments of total reward and discuss how each could be implemented, especially across cultures or within a local multicultural labour pool.
What challenges might managers face in implementing such segments?
SAMPLE ANSWER
Non-financial segments of total reward
HR.W5.DISC
Introduction
Gaining a competitive edge in the markets requires organizations to have competent employees. Retaining these employees require these organizations to develop appropriate reward systems. Providing intrinsic and extrinsic rewards as part of the total reward motivate employees, and even increase their productivity. Providing nonfinancial rewards has also been proven to motivate employees and improve their level of performance. The paper identifies three non-financial segments, discusses their implementation across cultures or local multicultural labour, and deliberates on potential challenges that managers may face implementing these segments.
Non-financial reward
Apart from financial rewards such as salaries, and bonuses, employees as well require non-financial rewards for them to execute their duties well. Nature of these rewards may vary from one organization to another depending on the size and the organizational culture (Phoenix 2006, p. 3). For instance, form of recognitions that employee appreciates depend on the organizational culture. The three major forms of non-financial segments of total reward include promotion/nomination, gifts/vouchers, and lastly appraisal.
Implementation of these rewards across cultures
It is important to consider cultural backgrounds and orientation of employees when providing them with non-financial rewards. This is because; they have different orientation and socialization that play a critical role in their motivation. Appraisal is one of the non-financial rewards employees require to be motivated to remain committed to the organization (Kristiani, Sumarwan, Yuliati & Saefuddin 2014 p. 113). This form of reward is through simple personal acknowledgement by the management, appreciating and recognizing the exemplary performance of employees. This reward system requires implementation across the organization. The management should remain conscious about the input of their employees by always thanking them and encouraging them whenever they perform well. Employees feel loved and cherished when recognized and appreciated. It is however, important to be aware of conflicts ensuing, especially when a single individual is appraised continuously. This may as well lead to unhealthy internal competition. When implementing this reward system, is import to factor the aspect of culture. Employees come from varied cultures and the meaning ascribed to this form of reward may vary (Michael 2004, p. 2). Some may require closer attention and appreciation when they make a smaller progress while other may not want so.
Organizations can also give employees gifts and vouchers to attend shows, holidays and go shopping as a strategy to appreciate their efforts (Chiang & Birtch 2012, p. 538). Implementing this form of reward requires managers to identify cultures of employees to give gifts that rhyme with their beliefs, and value system. For instance, when employees excel, it is important to give them gifts that resonate with their value and belief system.
Organizations as well use promotions/nominations to motivate their employees apart from appraisal and gifts. Implementation of promotion is also a sensitive issue especially, in an organization with multicultural labour force or in an entity with employees from diverse cultural background. The strategy when implementing this is to ensure fairness by ensuring that employees from various cultures are put into consideration. An approach to promotion will also vary across cultures. For instance in Japanese culture, promotion is based on the length of stay in an organization as opposed to western cultures where an individual is promoted based on their level of performance.
Potential challenges in implementation
Managers when implementing these reward segments experience a number of challenges. One is defining the value of the scheme as it becomes difficult for the manager to include all staffs because they cannot maintain close watch on all these staffs especially, in multinational corporations. Hence, good performing employees maybe ignored. Ensuring fairness, transparency, and credibility in the process of offering these rewards may be a challenge. Another challenge is cultural fit, as it becomes challenging for managers to align rewards with cultures, values or belief systems of employees (Michael, 2004). This causes conflicts and affects performance of employees.
Conclusion
It is evident that indeed non-financial segments such as promotions, gifts, and appraisals can be adopted by organizations to motivate employees. Organizations however, need to remain conscious about cultural diversities of employees when providing these rewards. There are as well challenges that managers must deal with to ensure smooth implementation of these rewards
Reference list
Chiang, F, & Birtch, T 2012, ‘The Performance Implications of Financial and Non-Financial Rewards: An Asian Nordic Comparison’, Journal Of Management Studies, 49, 3, pp. 538- 570, Business Source Complete, EBSCOhost, viewed 9 September 2015.
Kristiani, E, Sumarwan, U, Yuliati, L, & Saefuddin, A 2014, ‘The Role of Relational Reward Benefits for Developing the Non-Financial Value of a Customer to an Organization: Structural Equation Modeling Approach’, Gadjah Mada International Journal Of Business, 16, 2, pp. 111-142, Business Source Complete, EBSCOhost, viewed 9 September 2015.
People Management (2004), ‘Reducing features’, People Management Magazine, 15 july.
Phoenix, T 2006, ‘Rewards Transformation: Understanding the Internal Total Rewards Marketplace. (cover story)’, Benefits & Compensation Digest, 43, 9, pp. 1-14, Business Source Complete, EBSCOhost, viewed 9 September 2015.
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1. Assignment 1
Based on your readings and your personal experiences, prepare a 2 page summary (750 words maximum) of your understanding of the role of project management in today’s business environment.
Guidelines for assignment 1: Consider your workplace; are you involved in projects. If so, what is your assessment of how well they are selected, managed, resourced, appraised, and closed? If you are not involved in projects, can you talk to someone who is? Even if project management does not exist in your workplace, is there scope to introduce it? If not, why not? What elements of project management could you introduce into your own daily tasks at work?
Marks given for;
• Identifying real or potential project activities in your workplace and describing them from your viewpoint
• Your opinions on how well project management is handled in your workplace
• Applying some of the text book theory to what is observed in the workplace as a way of identifying gaps or opportunities in current work practices
SAMPLE ANSWER
Introduction
McDonald’s is one of the world’s largest multinational companies that trades in hamburgers fast food chains mostly based in the US. McDonald has over 35,000 branches in over 119 countries. The company was founded in 1940 and it has its head office in Oak Brook, Illinois in the US. McDonald’s realised a total revenue turnover of US $28.1057 billion in the year 2013.
The major opportunities that are available to McDonald include the large US market and the international market. The company’s customers are very loyal, its management strategic plans and marketing abilities are exceptionally well organized and also efficiently managed. This paper examines the weaknesses and the strengths of McDonalds plus its threats together with the opportunities and risks that the company may face.
External Factors Analysis
McDonald has experienced a rapid growth in its business processes probably due to its efficient marketing abilities and huge financial resources. The company employs over 1.9 million employees and its total assets in the year 2013 amounted to $36.6263 billion. The company has also diversified its products to also include soft drinks, French fries, chicken, milkshakes, fruits and salads. McDonald’s ability to expand to other international markets due to removal of trade barriers has increased the company’s chances of expansion.
Internal Factors Analysis
The major threats facing McDonald are the rival companies from the Asian market whose prices are lower than McDonald’s. The political instability that exists in foreign markets poses increased risks to the company’s profitability.
Opportunities
Threats
Making use of accessible technology
Political instability
Huge market
change in govt policies
Rapid growth in segmented market
Economic threats
Potential to diversify
Competition
R & D development of standard products
Change in tastes & needs
Strengths
Weaknesses
Cost efficiency
High costs of maintenance
The effective VAS system
Competitive pricing
Skilled human capital
High effort for the VAS system
Accessible infrastructure
High costs for technology dev
Loyal brands
High expansion costs
The fear of new entrants of competitors in the market increases the risks that McDonald is exposed to. Economic crisis and change of government policies may also affect the profitability of the company.
The major weaknesses of McDonald are the large costs that are associated with the maintenance of the huge network of franchised companies, the maintenance of technological and support costs. The integration of the VAS system and the high costs required to compete effectively with Asian rivals.
Strategy Formulation
To compete effectively with the Asian rivals in the market, McDonald’s should target and implement growth strategies that would improve its performance including sales and business expansion strategies. The products of the company have to be fully differentiated and branded to strengthen its position in the market by utilizing the most effective marketing strategies that would make the company have a strong presence in the market (Kotler, Keller, Brady, Goodman & Hansen, 2012). Positioning involves persuasion and influence of customer decision through the use of objective and clear promotional strategies that would develop and expand the company’s primary demand in existing and emerging markets (Blythe, 2008). The market should be segmented by defining the needs of the customers in the market and profiling the different needs of the segmented market. Media communication strategies should entail the use of optimized integrated communication systems (Smith & Taylor, 2004). This may include the use of bill boards and other aggressive promotional strategies that would help penetrate the segmented markets.
Sales execution strategies may also exploit the optimized personal promotion strategies to expand and develop sales initiatives in other markets that are still emerging and also to strengthen its hold on existing markets to prevent the entry of competitors in the market.
Implementation
After the new marketing strategies have been implemented in the market, their effects have to be analyzed. The strategies have to be evaluated and their success weighed against an effective feedback system that analyses the performance of the marketing strategies against the targeted goals.
References
Blythe, J. (2008) Essentials of Marketing, 4th Edition, Essex; Pearson Education Limited
Kotler, P., Keller, K. L., Brady, M., Goodman, M. & Hansen, T. (2012) Marketing Management, 2 Ed. Essex: Pearson Education Limited.
Smith, P.R. & Taylor, J. (2004) Marketing communications, an integrated approach, 4th edition. London: Kogan Page Limited.
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