Monday, January 20, 2020
George Mason's greatest accomplishment was being the founding father of the national Bill of Rights. He was a planter from Virginia, had grown up rich on one of the nicest and best plantations in Alexandria, Fairfax County, Virginia. He was an important member of the town's church, had all the best tutors growing up, and had been raised to be a Virginian aristocrat (Miers 39). Mason married 'well' and had a large family of nine kids. He raised them in Gunston Hall, a house which he had built himself (Miers 41). He was the type of guy who, if he believed strongly enough, did not abandon his beliefs. He strongly believed in the cause for the American Revolution (he had given his son a plantation named 'Lexington'), in citizen's rights, and a non-tyrannical central government (Miers 41). He was known as a great debater, the best that James Madison had ever seen. Mason spoke up many times during the constitutional convention, about different subjects he strongly believed in. During the convention, Mason was directly and strongly involved with the topics of the electoral college, slavery, the Bill of Rights, and a strong central government (Solberg 280). He was a bestfriend to George Washington, and around 1760, became involved in Virginia's politics. Six years later, he was called to Williamsburg to help with Virginia's Bill of Rights. He took the one that had been drafted before he got there. The thing was incredibly weak, and he took it in hand. Mason proceeded to reduce it to ten simple articles and declarations. It took only four weeks to be rewritten and to go through the system of ratification, with only six more articles added, and all of his big points left in (Miers 41-46). The Declaration was taken to Philadelphia, to Thomas Jefferson, where he was just about to finish up with the Declaration of Independence. Many of Mason's ideas were 'decorated' and went into the Declaration of Independence (Miers 42-46). George Mason's Virginia's Declaration of Rights was used as the base for almost every other states (Collier 250). George Mason went to the Constitutional Convention of 1787 with writing a new form of government in mind, though he did not believe in a strong central government. He agreed with the Virginia Plan. The Virginia Plan had two houses of our government, but the population of the state determined the number of repr... ... states are no security," (Leone 27). Later when George Washington took office, a committee was formed to add a Bill of Rights to the Declaration of Independence. It was the only way to get all the states to ratify the Constitution. They too, used Mason's ideas from Virginia's Declaration of Rights to draft the Bill of Rights and amend them into the Constitution (Miers 85). George Mason was an intelligent, outspoken person who stood up for what he believed in and would not back down. Being the base of the Bill of Rights, which gave America the reputation of freedom, he gave a backbone and a firm ground to stand upon to the United States of America. bibBibliography Christopher and James Collier, Decision in Philadelphia; The Constitutional Convention of 1787 (New York: Random House, 1986), 148, 250. Bruno Leone, ed., The Bill of Rights; Opposing Viewpoints (San Diego: Greenhaven Press Inc., 1994), 27, 41. Earl Schenck Miers, The Bill of Rights (New York: Grusset and Dunlap, 1968), 39, 41-46, 72, 78, 85. Winton U. Solberg, ed., The Constitutional Convention and the Formation of the Union (Urbana and Chicago: University of Illinois Press, 1958, 1990), 280.
Sunday, January 12, 2020
The party of life Life is a challenge that we all must take and overcome. Like a never ending obstacle course, we must jump through the hurtles of work, run through the pain of tragedy, and climb up the ropes of solitude. Life never goes the way we plan it to but that is why I follow the most important law of life: It may not be the party we hoped for, but while we're here, we should dance. When life goes wrong and pushes you down, itÃ¢â¬â¢s our job to pick ourselves up, brush ourselves off and keep on going with a wide smile and broad shoulders.We have all found ourselves in situations, where all we wish for is to leave, and for it to be over. There are times where we question, why things happen to us, and why we must suffer. I believe that this law of life is the perfect solutions for these situations and questions. This law of life means that no matter what situation you are in, you should still try to enjoy yourself and make the best of everything that is given to you. I chose this quote because I believe if you be positive in a rough position, then you can withstand anything that life launches at you.These are the moments that keep us waking up in the mornings, and going to bed at night. Living by this quote means we should go out with an optimistic attitude, with our heads held high, and ready to enjoy everything the world has to give to us no matter what has happened. I remember when I was younger; I flew to Russia and saw one of my old family friends. She showed me the town I used to live in and I was baffled to see how much things changed. I was surrounded by poverty and alarming conditions, but what surprised me the most was how the people reacted.They were not sulking and sobbing like I thought they would be, instead, they were enjoying themselves. Children ran around with their friends playing with a worn out soccer ball in their tattered clothing giggling and with jubilant looks on their faces. They didnÃ¢â¬â¢t care that their clothes werenÃ¢â ¬â¢t as expensive or new, they were just grateful that they were with friends that cared for them and would help them out in their time of need, and family that would risk anything just to make them safe and happy.They might not have gotten the riches or money, but since they were alive and with loved ones, they relished what they had and were truly content. When we were young we all had our dreams. Ã¢â¬Å"I want to be a doctor! Ã¢â¬ someone would say. Ã¢â¬Å"I want to live in a big house and have a nice car! Ã¢â¬ another would reply. These thoughts are simply contagious as a human being so when I saw the families in my old town I thought to myself Ã¢â¬Å"This isnÃ¢â¬â¢t what they wished for but they still found a way to make it workÃ¢â¬ .Their lives weren't the Ã¢â¬Å"partiesÃ¢â¬ they hoped for but they still had a great time Ã¢â¬Å"dancingÃ¢â¬ . So when life jumps out of the bushes and scares us, we shouldn't shriek and run, instead, we should turn around and laugh . When we trip and fall, we shouldn't hope no one saw us and walk off embarrassed. Preferably, we should get back up on our feet and embrace the moment and enjoy every seconded of it. Life will never be what we predict it to be, but thatÃ¢â¬â¢s just what makes it fun and more entertaining to dance to.
Saturday, January 4, 2020
Sample details Pages: 7 Words: 2177 Downloads: 6 Date added: 2017/06/26 Category Business Essay Type Narrative essay Did you like this example? Entrepreneurship is the process of bringing together factors of production, and organizing profit oriented activities, or the process of distributing economic goods and services for profit. Definition of an Entrepreneur This is a risk taker who possesses skills, such as knowledge and self-confidence. This individual bears the risk of starting a business venture, in the face of uncertainty about future conditions. DonÃ¢â¬â¢t waste time! Our writers will create an original "Entrepreneurship Assignment" essay for you Create order Most successful entrepreneurs are self-motivated. Entrepreneurs start their own businesses because they do not like to work for others, but prefer to be their own boss and be responsible for the decisions they make. Entrepreneurs have the ability to spot a business opportunity and utilize it, with the hope of succeeding, rather than failing. Entrepreneurship is a creative activity, as it tries new methods, rather than following routine methods. Entrepreneurship is closely related to innovation, as the success of entrepreneurship, largely, depends on the ability to respond to innovation. It has its objective of economic success, based on the utilization of new means of production. Entrepreneurship is a result-oriented activity, since it emphasizes high levels of achievement and performance. The qualities of an entrepreneur are acquired; thus, an entrepreneur need not be born as one, but can become one through progressive learning. When selecting the type and size of a business v enture, an entrepreneur should consider and conduct analyses on the factors below. Raising capital most entrepreneurial activities, normally, depend on the availability of capital. Market research it is the systematic collection of data regarding the consumer levels of demand for the product and cost. Determination of the objectives of the business these should be spelt out, clearly, and should, also, be realistic. Recruitment and selection of competent and qualified employees this is required of an entrepreneur. Making the plant operational is the specific act starting the business venture. Micro2 Business Venture This is the establishment of a business, or industrial unit, by an individual, who organizes and manages it for profit making. Micro2 venture has the following merits and demerits. Merits of Micro2 business venture There is no sharing of profit. Micro2 business is a one-man venture, thus, an individual need not share his profits. The owner of the business is his own boss. It increases self-confidence. If the venture is successful, it gives the owner immense satisfaction. Demerits of Micro2 business venture The owner has long working hours. Lack of success will affect self-esteem. If the business fails, the owner will develop low confidence levels and, thus, low self-esteem. Pressures of the business will affect oneÃ¢â¬â¢s social and family life. In case of a loss, the owner will bear it alone. All decisions are in the hands of the owner. In the social context, Micro2 business is a way of employment creation among citizens. This comes as a benefit, since it has reduced idleness among the jobless, which has, also, significantly reduced cases of drug abuse. The micro2 venture provides financial satisfaction, in terms of meeting basic needs, thereby, improving the living standards of individuals. Micro2 ventures have reduced crime rates, as people are able to fend for themselves. Macro2 businesses should use modern computer technology, and view similar products to enhance quality by a comparison with international standards. It is important, also, to observe the operations of SMEs at the national and international levels. A small banker plays a major role in the financial support of a micro2 business. The reason why small bankers are suitable for micro2 businesses is that their cost of capital is, slightly, lower compared to huge financial institutions. Their demands, in terms of collateral, are also lower. Small banking institutions provide free financial advice to customers on project viability and financial management strategies. Community-based advisors play a major role in understanding the business environment. Business environments are external and internal, and can have a positive or a negative impact on the organization. They play a significant role in the establishment of commodity markets. A venture capitalist is a financer of a business opportunity and will be of help to the micro2 business, if there is room for expansion, or a shortage of capital. A venture capitalist finances businesses found to have finance as their main growth constraint. For a business owner, it is necessary to partner with a venture capitalist, than to take debt financing, as debt exposes investments to risk. Professional services are important to every business, as they are used in preparing reports on the performance of the firm. These reports are used, by financial institutions, to evaluate the credit worthiness of the business. Consultant services provide the firm with information, on various options it can undertake, to maximize profits. Micro Business Venture A micro business has less than five employees, including the owner, who is responsible for making every decision and financing the entire enterprise. The owner may use personal assets to raise finances to start the business; meaning, if the business fails, the owner is negatively impacted. If, however, the business is successful, the owner will reap all benefits. Merits of a micro business venture It requires less capital a micro business requires less capital, which may be easily obtained, through soft loans, or savings, reducing exposure to risks associated with borrowed capital. The owner enjoys profits alone the owner of the micro business reaps all the benefits from the investment, if a profit is generated. The owner of the business is responsible for making all the decisions decisions of the owner are, usually, sound and ensure growth of the enterprise. Creation of employment the Micro venture has created employment for a majority of citizens in developing countries. Demerits of the Micro Business Venture If a loss is incurred, the owner will bear the burden alone. Lack of capital micro business ventures are challenged by lack of capital, or cash flow. This is because their financial statements cannot be relied on, by financial institutions, as the bases for providing finance; therefore, the owners have to use their personal assets. Unfavorable policies by the government a major blow to the micro business venture are unfavorable government policies, which impose a lot of requirements for starting up a business. In the social context, micro businesses have created employment for a large number of people, thereby, improving their living standards. Micro businesses engage community charities working within the location they operate. Social contributions may include cleanup activities, within their location. Changes in technology should be incorporated into every business, to match international standards and modern business practices. The use of computers will reduce operational and communications costs to a significant degree. In the corporate world context, micro business have brought healthy competition in the eyes of consumers, as the quality of goods and services has improved, significantly, with different investors trying to win more customers. Micro businesses have, also, seen the government impose unfriendly policies, in an effort to regulate their activities. In the technological context, a micro business has to adapt to the fast evolution of technology, to remain relevant in the modern world. Modern technology has dealt a huge blow to micro businesses, as technology keeps on changing and within a short period a business may be outdated, requiring the adoption of new technology. The primary role of a small banker, in a micro business venture, is the provision of capital. Small bankers are friendly to approach, as they do not have many requirements, and their cost of capital and payment terms are more affordable, than other sources. The limitation of small bankers is that they may not be able to provide all the capital required. Community based advisors play a major role in advising entrepreneurs of micro-based businesses, on tastes and preferences of different products, made by different producers. This will assist the entrepreneur, when producing his brand, to make it unique. Community based advisors will, also, assist the entrepreneur in the evaluation and understanding of the business environment. They, also, help the entrepreneurs in assessi ng demand. A venture capitalist provides capital to a business, hopeful that the company will go public and sell its shares at a higher price, than the amount invested in the business. Venture capitalists, also, provide managerial skills to the firm. One of the reasons why most firms do not qualify for venture capital, is that they focus on low risk ventures, investing in low growth sectors, which do not attract venture capitalists. In addition, most micro businesses are family owned, thereby, excluding venture capitalists. Professional services are a requirement in every business. They provide useful recommendations on how the firm should be run. Consultant service providers are, also, important to every firm, since they provide information on how to reduce expenditure, thereby, increasing profits. Professional services enable analysis by independent parties, such as financial institutions, on the determination of credit worthiness, or the Court of law in monitoring fraud com plaints. Small Business Venture This business organization operates within a specific location, and does not, significantly, influence the business competition, within its area of operation. Merits of Small Business Ventures Small business ventures are a source of jobs for many individuals. They improve living standards of people through employment creation. They are well distributed throughout the country; reason being they are easy to start and operate, since they do not require much capital. They discourage monopolistic market structure a monopoly market does not adhere to the rule of demand and supply; therefore, the prices are controlled by the owner of the business, leading to the exploitation of customers. Demerits of Small Business Ventures Lack of financial resources a majority of small business persons lack access to financing, because they are unable to prove themselves credit worthy, to the satisfaction of the financial institutions. Inadequate entrepreneurship skills and knowledge lack of entrepreneurship skills is a huge problem for small investors, as they are unable to prepare for the future, and to adjust to uncertainty. Unfavorable policies of the government the government imposes unfavorable policies in terms of duties and licenses, which are unaffordable to small business operators. Health and safety at work place a small business venture is unable to afford a safe and secure health facility for its workers. Lack of market and inadequate information on marketing. In the social context, small businesses have improved the livelihood of individuals by employment creation. Employment creation creates self-reliance, increasing the self-esteem of individuals. Small businesses engage in charitable environmental programs, such as the planting of trees within their area of operation. Small businesses should, progressively, train their employees to improve their technological skills. They should, also, redesign their existing products, once they are modified, to enable them to fit in the current technology. They should, additionally, use technology to venture into the international market via E-commerce. Small banking institutions provide financing to small business ventures, at an affordable cost. They provide advice on the best venture for the investor, and the ideal timing and size of business expansion. Community based advisors provide information on customer preferences, thus, helping the small businesses in the evaluation of costs. The y play a major role in demand evaluation. A professional consultant service plays a major role in small businesses. It ensures conformity with the legal requirements, such as the accounting act. It safeguards the interests of the shareholders, who are not part of the management. Professional services are used in the creation of reports showing the true and fair picture of the business. Venture capitalists raise a pool of capital, which they use to invest in small businesses that have potential to become publicly traded. They do this in return for an ownership interest. In instances where finance is a constraint to development, venture capitalists are of great benefit to the small business venture. Growth Ventures Growth ventures are groups of investors, who provide working capital. Small businesses are required to establish business relationships with a pool of investors, to acquire capital to increase their growth rate. Growth ventures convert small businesses to big in vestments. Growth ventures lead to an increase in production and profits of the business. Growth ventures are done, mainly, through direct purchase of shares. They involve long periods to make huge profits. They may, also, provide managerial skills to the new firm. Before adopting a growth venture, it is important to evaluate why the funding is required. Generally, it is preferable that the life of a project matches the period and the requirements of its investor. The firm should, also, consider the need for immediate growth. Other factors being constant, the firm should consider the worthiness of joining a growth venture, rather than obtaining financing on its own. Funds obtained from growth ventures affect, to a great degree, control of the firm, by increasing the stakeholders and the existing shareholdersÃ¢â¬â¢ desire to retain control. Growth ventures, however, increase the profits, thus having a positive impact on the earnings per share. A growth venture, also, enables the firm to be well established, have access to the capital market and be able to raise capital or debentures.
Thursday, December 26, 2019
Ã¢â¬Å"IÃ¢â¬â¢ll text you.Ã¢â¬ The three words that automatically roll off our generationÃ¢â¬â¢s tongues. Whether it is asking someone out on a date, or just asking someone to hangout, those three words are permanent in our minds. Ã¢â¬Å"What r u up 2?Ã¢â¬ Ã¢â¬Å"Nothin, lets grab dinner later?Ã¢â¬ Ã¢â¬Å"I would luv 2 go out with u.Ã¢â¬ Sure, having a conversation like this is easy and convenient. It gets straight to the point and you do not have to worry about small talk, but if this is how asking someone out on a date is going to continue to be for the years to come, then I think I will pass. Everyone does this, we all do not even think about picking up to ask someone out on a date. I mean how do we expect to have long lasting relationships or even quality relationships if this is our new way of communication? Texting is no way of having an affective and quality conversation with one another. Texting has become the normal way of communicating with others in this generation. This is scary because to be completely honest, even though I know I am attached to my phone, I do realize that certain conversations I am having via text would be more effective and personal if I were to pick up the phone and call the person rather than being limited to 130 characters of letters onto a screen. One cannot understand the others tone of voice through a simple text message which is why some relationships and friendships are ruined due to texting. I personally lost one of my best friends for a while due to a pointless textingShow MoreRelatedFace Time Vs. Screen Time By Chandra Johnson799 Words Ã |Ã 4 PagesScreen Time,Ã¢â¬ Chandra Johnson states different cons of increasing technology of communications among people. This article mention difference between Face Time and Screen Time and how it has been affecting kids and their communication skills to build up relationships with others. She has use other authorÃ¢â¬â¢s point of views to backup her points. 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Because of the easiness of smart phone, a lot people, especially teens, are interested to use its technology to do things. Texting, surfing the internet, and Ã¢â¬Å"selfieÃ¢â¬ have become a trend of teens using cell phone and have played a huge part of teenÃ¢â¬â¢s lives. Texting has become a tremendously large part of many teenagersÃ¢â¬â¢ lives. Over the past decadesRead MoreThe Effects of Social Media1114 Words Ã |Ã 4 Pagesconnection. Turkle explained the difference between texting and face to face conversation clearly they have a very distinct range. Texting has no emotion or feeling toward the person reading them. In the second half of the article, she raised the issue of young children have their cell phones at an early age, and parents are more concerning when their children are not around. Parents take full control the aspect of their childrenÃ¢â¬â¢s life by texting those so many times a day. As a result, children often
Wednesday, December 18, 2019
Introduction Very few firms have the potential of truly inventing their strategies for the management of talent management. In most cases, they always evolve as dictated by various business demands. However, for the proactive firms, as well as those which are leading within their respective industries, customization, innovation, as well as creativity are not just components of talent strategy but they are generally the actual talent strategy. With about 2,000 workers, more than about 1,500 of whom are working in about 50 distribution centers, Netflix has generally strived to exercise creativity within the processes of talent management. Generally, the human resource management practices and policies that are applied by Netflix have beenÃ¢â¬ ¦show more contentÃ¢â¬ ¦Human Resource Practices of Netflix There are a number of practices that are adopted by Netflix. For instance, the firm hires, rewards, and also tolerates only the adults that are fully formed. This means that the firm hires individuals it trusts to carry out the right things within the organization. In the past years, the firm learnt that if it asked individuals to depend mainly on logic, as well as on common sense rather than formal policies, in most instances, it got better results at very low costs. Through proper and careful hiring, about 97% of the workers will strive to do the correct things, however, a number of firms generally spend lots of time, as well as money in writing, as well as enforcing various human resource polices in order to handle the problems that are caused by the remaining 3 percent (Whitney, 2008). Second, the firm has generally strived to tell the truth regarding performance. Netflix removed formal personal performance reviews. At the same time, the firm ensures that its managers, as well as its employees hold conversations regarding performance to be an organic component of their work. The firm instituted 360-degree reviews holding on the thought that individuals have the capacity to handle all things provided that the individuals are provided with the truth. The firm does not strive to identify or to recognize the top 10% or the bottom 30% , however, it strives to look at the whole area of talent both within and out
Tuesday, December 10, 2019
Question: Discuss About The Concept Implications Marketing Management? Answer: Introducation Woolworths Limited is one of the major Australian organizations wherein it has extensive kind of retail throughout New Zealand and Australia (Woolworths.com.au, 2018). It is second largest companies in terms of revenue in Australia after Wesfarmers and it is the second largest retail store in New Zealand. Furthermore, it can be seen that Woolworths is the second largest liquor retail store in Australia and it was ranked as the 19th largest kind of retailer in the entire world in the year 2008. Percy Christmas, Ernest Williams and Cecil Scott Waine founded Woolworths Limited in the month of September in the year 1923. The Chief Executive Officer of the respective company named Woolworths is Brad Banducci. The main operations include the supermarkets that are working under the brand of Woolworths in both New Zealand and Australia. The respective company is retailer of liquor as Dan Murphy and BWS in Australia. The Woolworths Holding has also contributed towards the leisure and hospitality group along with departmental stores under name of Big W name in the entire Australia. The number of employees who are working under Woolworths is around 202,000 and the operating income ad revenue generated by the company is $1.6 billion and $59 billion. The detailed PESTEL analysis of Woolworths explained the external factors that affect the retail industry and company. The PESTEL analysis includes political, economics, social, technological, environmental and legal factors. Political Factors is one such factor wherein Woolworths Company is famous name in the entire retail industry that helps in fulfilling the requirements of the customers in the different retail outlets. The entire political environment of the entire country is linked with the different performance of the organization (Calder, Malthouse Maslowska, 2016). The different retail organizations are affected by the political climate the entire region just like different entities of business in different other sectors. The entire political condition shapes the entire business environment that will provide the organization with different growth opportunities that is suitable in nature. Furthermore, the company along with the business sector grows with the help of potential stability as the different investors and different traders in foreign countries in different activities related to business. On the other hand, the disturbance that has been done politically discourages business along with in vestors from entering into market due to risk of return that is low in nature (Mathooko Ogutu, 2015). Economic Factors is the second factor wherein there are different economic factors that include recession and unemployment has strong effect on the performance of the company financially. These different factors can affect the sales and causes financial decline in the company (Zhao et al., 2016). The condition of the company has diminished in nature, as there was global financial crisis as there was a major loss in the company when the operations shut down in The United Kingdom. The financial crisis had hit the company in an ineffective manner and it had affected the sales of the company. However, the company had performed well in an effective manner despite of different disruptions financially. It can be seen that the Australian retail industry has been stable and it has supported Woolworths in continuing operations of business despite the huge setback in the market of UK. Social Factors is the third factor wherein the customers are the major source of revenue in different business entities. Woolworths has recognized importance of the different customers and emphasized on notion of delight of customers. The management of Woolworths has understood different changes that have been occurred in the social context (Ingenbleek, Meulenberg Van Trijp, 2015). The location of the stores is critical in nature as customers expect retail stores in order to provide convenience. The respective company has been able to understand the preferences of the customers such as removal of items of confectionary is one such step in this regard. The respective company has identified the shift towards healthy eating along with grocery items that helped them in appealing customers in an effective manner (Kotler, 2015). Technological Factors is the other factor wherein the advancement in technology will help in enhancing experience of shopping of customers. The entire company has integrated service architecture that helps in supporting technology in an effectual manner. This helps in identifying the technologies, as this becomes means of gaining stronger kind of position in the market. Environmental Factors is the factor wherein the entire environmental factors help in reflecting usage of business that is environmental friendly in nature. Woolworths has invested resources that helped in minimizing the footprint of carbon of organization. The organization has been participating in different activities related to recycling materials. The different sustainability practices help in establishing image of the respective company as the responsible business socially (Ingenbleek, Meulenberg Van Trijp, 2015). Legal Factors is other factor wherein the different taxation policies along with regulations of employee engagement are part of legal framework for entire retail industry. Furthermore, the requirement of licensing of foods is essential in nature and the companies need to comply with such regulations. The quality of food items is made available in stores in accordance to regulations of country. Furthermore, opening of retail stores requires approval from authority of government and it needs to follow such legal requirements. It is essential for Woolworths Company to understand the influence of the entire external environment on profitability and achievement of the strategies of business with the help of Porters Five Forces Analysis. The external factors have significant effect on the performance of the business. The respective company needs to focus on the strategy implementation that is based on five-force analysis. Bargaining power of the suppliers is one of the factors of analysis wherein suppliers are of huge importance, Woolworths have less kind of dependence on their suppliers, and it means that Woolworths have weak bargaining power of suppliers. The main reason behind this is considerable amount of market share in retail in Australia and New Zealand. Suppliers in the market play a dominant position in the entire market and this can decrease the margins that have been earned by Woolworths in the entire competitive market (Rothaermel, 2015). The retail industry needs to use the negotiating power in such a manner that this will help the company in extracting higher prices and this can help Woolworths in improving the overall profitability in the entire market. Bargaining power of the customers is other factor wherein majority of the different buyers are individual kind of buyers having strong financial and bargaining power. The strong kind of power of the different customers enables them to force company in decreasing price in attribution of purchasing. Woolworths is delivering low priced products and services in order to meet the needs of the customers (Rothaermel, 2015). Threat of new entrants in Woolworths is not considered significant in nature, as there are different reasons wherein setting business with large number of stores along with quality that is excellent in nature is essential. This will help Woolworths in being in competition with Coles and there is huge number of startup capital that will help the business in operating in an effective manner (McDonagh Prothero, 2014). Furthermore, it has been seen that the existing competitors and Woolworths are the dominant players with different accesses to the channels of distribution in the entire retail industry. The different new entrants in the market may face risks of losing the investment and they are highly competitive in nature as well. Woolworths need to implement different innovative strategies of pricing, as this will help the company in gaining competitive advantage. Threat of substitute products along with services is other factor wherein business of Woolworths has to face tough competition for Woolworths. The different kind of substitute products is offered to different Australian major supermarkets. The market in Australia needs to come up with different innovative and other strategies that are competitive in nature. This will help the company in building reputation in the entire retail industry. The competitors of Woolworths are Coles that helped in providing rewind strategy of price for the different consumers. Therefore, it can be concluded that there is high level of threat to Woolworths in terms of the different substitute products and services (Solvell, 2015). Rivalry among the existing competitors is essential, as there is huge presence of the different competitors in the Australian grocery and retail stores (E. Dobbs 2014). This will help in contributing towards the high level of proper concentration and the intensity of different competitors has forced the entire company in order to make them competitive in nature (Graham, 2018). The rivalry among the different competitors in the market has helped the company in differentiating themselves from the potential competitors in the market. Proper collaboration with competitors is essential in nature as this will help them in increasing the market share and this will help them in competiting in an effective manner (Yunna Yisheng, 2014). There are different kinds of measures and strategies that can be adopted by Woolworths in order to perform successfully in the competitive environment. Firstly, Woolworths need to improve along with invent new marketing strategies in such a manner that will help them in understanding the tastes and preferences of the customers in an effective manner. Woolworths need to analyze the different tastes in such a manner that this will help Woolworths in being the best among the other competitors in the competitive market. The performance of the Woolworths has to be improved in terms of developing new category of products and other innovative strategies of delivering their services and products to the customers (Sheth Sisodia, 2015). The second strategy that can be adopted by Woolworths is to offer the customers the different requirements in such a manner that this will improve the core offer in an effective manner. The innovative strategies have to be used by Woolworths to meet the different needs of the customers (Takata, 2016). The performance of the Woolworths has to be improved in an effective manner, as this will help in developing strategic relationships that is known as strategic sourcing. Woolworths need to include different strategies such as introduction of healthy and hygienic food items for the customers who are fitness freak and ultra fresh ready to cook food as well. The third strategy used by Woolworths is to create efficiency that helps in providing value to the customers in an effectual manner. The pricing strategy has to be established in such a manner that will target customers of Aldi, Coles and other supermarkets. The efficiency is essential and effective in nature, as this will help them in introducing different innovative techniques in such a manner that will increase the convenience of the customers. Woolworths need to introduce new stores and it involves rebalancing the capital expenditure between the existing and new stores (Wu, Chen Dou, 2017). Lastly, Woolworths need to deliver new products along with better experience in such a manner that this will help in development of new categories of food and other supply chain strategies for the consumers. This will help Woolworths in performing better than the competitors perform. The performance of the company has to be analyzed in such a manner that this will help in strategy for food and this will help in harnessing the existing strength of Woolworths in Australia. Woolworths need to invest different strategies in such a manner that this will help them to grow in an effective manner and increase the channels of investment in an effectual manner (Daunt Greer, 2017). Therefore, it can be concluded that Woolworths is performing well in the entire competitive market. The respective company is performing comparatively well as compared to other supermarkets in the competitive market of Australia such as Coles and Aldi. From the Porters Five Forces analysis and PESTEL analysis, it can be seen that the Woolworths Company is far ahead of the other competitors in the market. The objective that has been adopted by Woolworths is different from one another wherein they have created different innovative strategies in such a manner that has attracted their customers towards their company. Woolworths has created supply chain management that is efficient in nature, as this has developed by them in increasing their bargaining power. Woolworths has increased the cost switching for their customers in such a manner that they are service oriented and not product oriented. Woolworths has built sustainable differentiation strategy in such a manner that this has helped them in competing better with the competitors in the competitive market. Woolworths has been collaborated with their competitors in such a manner that it helped them in increasing the size of the market. Woolworths has implemented different strategies and has analyzed the different political, economic, social, environmental and legal factors and it can be identified that Woolworths is still in the second position in the entire retail industry. References Calder, B. J., Malthouse, E. C., Maslowska, E. (2016). Brand marketing, big data and social innovation as future research directions for engagement.Journal of Marketing Management,32(5-6), 579-585. Daunt, K. L., Greer, D. A. (2017). The dark side of marketing: introduction to the special issue. Dobbs, M. (2014). Guidelines for applying Porter's five forces framework: a set of industry analysis templates.Competitiveness Review,24(1), 32-45. Graham, D. (2018). PESTEL factors for e-learning revisited: The 4Es of tutoring for value added learning. E-Learning and Digital Media, 15(1), 17-35. Ingenbleek, P. T., Meulenberg, M. T., Van Trijp, H. C. (2015). Buyer social responsibility: A general concept and its implications for marketing management.Journal of Marketing Management,31(13-14), 1428-1448. Kotler, P. (2015).Framework for marketing management. Pearson Education India. Mathooko, F. M., Ogutu, M. (2015). Porters five competitive forces framework and other factors that influence the choice of response strategies adopted by public universities in Kenya.International Journal of Educational Management,29(3), 334-354. McDonagh, P., Prothero, A. (2014). Sustainability marketing research: Past, present and future.Journal of Marketing Management,30(11-12), 1186-1219. Rothaermel, F. T. (2015).Strategic management. McGraw-Hill Education. Sheth, J. N., Sisodia, R. S. (2015).Does marketing need reform?: Fresh perspectives on the future. Routledge. Slvell, . (2015). The Competitive Advantage of Nations 25 yearsopening up new perspectives on competitiveness.Competitiveness Review,25(5), 471-481. Takata, H. (2016). Effects of industry forces, market orientation, and marketing capabilities on business performance: An empirical analysis of Japanese manufacturers from 2009 to 2011.Journal of Business Research,69(12), 5611-5619. Woolworths.com.au., (2018) Woolworths.com.au. Retrieved 30 January 2018, from https://www.woolworths.com.au/ Wu, J., Chen, J., Dou, W. (2017). The Internet of Things and interaction style: the effect of smart interaction on brand attachment.Journal of Marketing Management,33(1-2), 61-75. Yunna, W., Yisheng, Y. (2014). The competition situation analysis of shale gas industry in China: Applying Porters five forces and scenario model.Renewable and Sustainable Energy Reviews,40, 798-805. Zhao, Z. Y., Zuo, J., Wu, P. H., Yan, H., Zillante, G. (2016). Competitiveness assessment of the biomass power generation industry in China: A five forces model study.Renewable Energy,89, 144-153.
Tuesday, December 3, 2019
When the Fate of the Company Hangs by a Thread the Significance of the Leader and the Choice of an Adequate Leadership Style
In the modern world, becoming a leader is often viewed as the pinnacle of a personÃ¢â¬â¢s career and the goal that one must strive for. However, very few people actually know what being a leader means and what responsibilities it involves.Advertising We will write a custom essay sample on When the Fate of the Company Hangs by a Thread: the Significance of the Leader and the Choice of an Adequate Leadership Style specifically for you for only $16.05 $11/page Learn More In fact, one will definitely have hard times even trying to define what leadership is Ã¢â¬â there are too many opinions concerning what leadership involves, as well as what the functions of a leader exactly are. For example, some scholars view leadership as an ability to lead the company to its ultimate success, therefore, focusing on the material effects of good leadership (Bass, 2008, 24). According to another school of thought, leadership involves managing the conflicts that occur w ithin the employees and solving the problems that are related to the specified business field (Bass, 2008, 24). The third opinion on leadership claims that a true leader must be a perfect strategist and, therefore, praises a true leaderÃ¢â¬â¢s ability to plan the course of the companyÃ¢â¬â¢s actions ahead (Bass, 2008, 24). As it often turns out, the truth lies somewhere in the middle; hence, the definition of leadership includes each of the above-mentioned aspects, since at present, the concept of leadership also includes Ã¢â¬Å"contributing to social order, introducing major change, giving meaning and purpose to work and organizations, empowering followers, and infusing organizations with values and ideologyÃ¢â¬ (Bass, 2008, 24). With that in mind, the merits of effective leadership arte not restricted to the increase in the companyÃ¢â¬â¢s revenues, though the given effects are expected as well.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Effective leadership must lead to improving the relationships between the staff and the employer, as well as among the employees, help solve the conflicts that arise among the members of the team and between the employees and the managerial, control organizational behavior and keep it stable, and perform many other functions. To approach the situation in a specific company and improve it greatly, as well as set the course for the firmÃ¢â¬â¢s further development, however, a general idea of leadership is not enough. To solve a particular problem, a particular kind of leadership must be used, which is why several leadership styles, with the help of which different problems can be addressed, have been distilled. Autocratic Presupposing that the leader has complete power over his/her employees and the working process, autocratic leadership seems to have become quite out of date, since it does not allow for much creativity. Bureaucratic Following only by-the-book principles and not allowing the employees to make any decisions other than the ones prescribed for each specific occasion, bureaucratic type of leadership often leads to the companyÃ¢â¬â¢s decay. Charismatic When the leader relies completely on the effect that (s)he has on the employees, (s)he chooses the charismatic leadership style. In contrast to the transformational style, the given model does not presuppose any changes within the company. Democratic As one might have already guessed, democratic leadership style involves the practices that allow the employees feel that they have an impact on the company decisions. Leading to job satisfaction, the given approach seems one of the best.Advertising We will write a custom essay sample on When the Fate of the Company Hangs by a Thread: the Significance of the Leader and the Choice of an Adequate Leadership Style specifically for you for only $16.05 $11/page Learn M ore Laissez-faire Translated loosely from French as Ã¢â¬Å"leaving things the way they areÃ¢â¬ , laissez-faire leadership allows the employees make their own decisions that influence the production process and presupposes little control over the staff. People-oriented Quite a recent innovation in the sphere of business, the given approach demands that the leader should take into account the employeesÃ¢â¬â¢ specifics and demands when assigning them with certain tasks. People-oriented approach has several features of a democratic leadership style. Servant Unlike one might have thought, a leader does not have to be necessarily recognized among the employees. As long as the leader can give commands and be certain that people will follow them, leadership can be considered effective. Therefore, a leader does not necessarily have to stand out of the crowd. On the contrary, a leader can do the same task as the rest of the employees, which the servant leadership style presupposes. Task -oriented It is quite peculiar that a task-oriented style of leadership can also have certain features of the autocratic one. Setting the task completion as its ultimate goal, task-oriented leadership style often presupposes the revenue-over-people policy. In a way, the given approach is the exact opposite of the people-oriented approach. Transactional Rather paternalistic and quite controlling, a transactional type of leadership presupposes that the leader has the power both to observe the working process and to intervene it, as well as punish the employees for not performing their functions the right way (Betrocci, 2009, 48). Transformational Traditionally considered one of the best types of leadership, transformational leadership style aims at transforming peopleÃ¢â¬â¢s attitude towards the work that they do, which is carried out with the help of engaging them into the activities that they prefer and learning about their likes and dislikes.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Environmental The given leadership style demands that the leader of a group of people carefully analyze the environment in a specific team and build the leadership strategy around the specifics of the environment in the given group. The downside of the given strategy is that the leader has to follow the moods within the group, which practically means that employees set the course for the leader to follow, which is quite unnatural. Visionary When an organization needs a change, visionary leadership style is typically preferred over the rest of the leadership styles, since it helps set the course for the company to follow, and develops a clear strategy for the employees to comply with. It is worth mentioning that, in contrast to Cooper, Johnson and Holdsworth, Northouse (2010) offers a slightly different classification that is, in a sense, more general than the above-mentioned one. Therefore, the features of each approach listed above can be found in the ones that are suggested by Nor thouse. To show graphically the differences between the traditional approach offered by Northouse and the recent innovation with a few new types of leadership coined by Cooper, Johnson Holdsworth (2012), it will be necessary to consider NorthouseÃ¢â¬â¢s classification as well. Trait Approach The given approach seems to be quite close to the charismatic leadership style; as a matter of fact, trait approach combines the same elements as the charismatic leadership style. The only difference is that in a trait approach, specific traits that allow a leader become a role model are listed, while the charismatic leadership style relies on the appeal of a person, implying that each appeal is individual. Style Approach A combination of the task-oriented and a people-oriented leadership styles, the given approach seems flawless for a company that does not need radical changes. Controlling both the organizational behavior and the production quality, this approach is truly a great find. Situa tional Approach Much like the contingency theory that is described below, situational approach presupposes that the leader of a group of people should seek for a unique solution for each conflict or complicated situation within a group of employees. Unlike contingency theory, however, the given approach does not presuppose that there should be a bond between the manager and the employees. Contingency Theory The given theory of leadership makes it clear that there is no panacea for a problem within an organization Ã¢â¬â every single case must be handled in a unique manner by taking account of every factor standing in the way of the companyÃ¢â¬â¢s progress. Path-goal Approach The path-goal approach dictates that the motivation rates among employees will get higher if the employees know exactly what goal they are striving for (Lussier Achua, 2010, 161). Leader-member Approach Leader-member approach focuses on the relationships between the leader of a group and its members. Transf ormational Leadership Needless to mention, transformational leadership represents the exact same ideas as the transformational leadership style. Demanding that the leader not only set the goals for the employees to achieve by a specific deadline, but also change their attitude towards their work, transformational leadership approach seems a perfect choice for the company that needs changes badly. However, dry theory is not enough to see if the above-mentioned types of leadership can be considered viable. To see if the given theories actually make sense, an analysis of a real-life case study is required. The case study below can be considered a solid proof for the fact that none of the leadership styles mentioned above should be considered a silver bullet Ã¢â¬â in each case, an individual approach that incorporates the elements of several leadership styles, must be applied to solve a particular problem. Of all the theories listed above, the contingency theory, which states that fo r every case, a specific approach must be adopted, seems to work. Case Study: The Change in Leadership Style in BT Takes the Latter to the Top of the UK Business Charts British Telecom, also referred to as BT, has been known for quite long among both the British people and the rest of the world as one of the highest grossing telecommunication companies until the 1990s, when financial crisis embraced almost the entire world. As soon as it became clear that most of the European and American companies were aimed at developing their economical strategies to tailor them to the on-coming globalization process, the BT realized that the time-tested leadership style served the companyÃ¢â¬â¢s purposes no more. Under the influence of outer economic factors, BT could no longer retain its top position in the UK business charts, which called for a change in the companyÃ¢â¬â¢s policies. It would be a mistake to claim that the leadership style chosen by the BT Group was flawed; rather, one shou ld suggest that the chosen strategy had worn out its gimmick and was useless in the changing environment. To start with, the BT Group has undergone several changes in the course of its history, and the strategy that the company followed in 1990s was not the initial one that the BT Group had started out with. Originally a monopoly organization that handled the entire telecommunication system in Britain, the BT Group was obviously ruled in an autocratic style of leadership. As for the leadership style that the BT Group used in 1990, it could be defined as autocratic one. Taking what is defined nowadays as path-goal leadership approach, the managers of the company chose a directive leader behavior that made them focus solely on getting the revenues for the company, while the needs of the employees, the relationships with the possible rivals and the further development of the company was not considered necessary. It must be admitted, though, that the given way of managing the BT Group h ad been working up until the economical changes in the 1990s, when the very idea of a monopoly was considered inappropriate in the fast-changing market. Even though in 1982, the BT Group finally faced a decent rival, Mercury, the need for changing the leadership style and choosing a more efficient leadership theory became fully obvious. After the White Paper was publicized in 1991, it became clear that the VT had no longer the rights for monopoly on the British telecommunications; therefore, the time-tested leadership style that the BT Group used to rely on was no longer of any use. It was necessary to adopt more flexible approaches, since the latter would have helped the company stay afloat in the atmosphere of tough competition. To make the situation even worse for the BT Group, the technological approaches had to be revisited again. To their credit, the BT Group managed to find out the solution to the problem. After conducting the analysis of the external factors that influenced the BT Group, as well as the obstacles for the BT within the corporation, the head of the company came to the conclusion that the British Technologies was supposed to undergo a serious organizational change, especially speaking of the leadership style adopted by the managers of the company. To handle the difficulties and adapt to the current market the BT resorted to the situational approach, since the managers had not distilled a specific strategy for the company by that time; however, further on, the BT Group moved to the contingency model. The advantages of the given model are clear Ã¢â¬â allowing the BT Group to adapt to the changes in the economical and financial environment, the given approach adds the company some flexibility. Nowadays, BT can choose the adequate strategy based on such factors as the level of competition, the current demands in the telecommunication market, and the changes in the technological advances. As the recently obtained data shows, the BT has becom e one of the leading providers of telecommunication services all over Britain: Globalisation has changed the economics of business. Networked IT services enable organisations to work seamlessly across time zones and borders. In order to help customers reach new markets, and improve productivity and operational efficiency, BT Global Services delivers the services they need to compete in a global market, in more than 170 countries. (BT, 2012, para.40) Judging by the data provided by the BT group, however, there is still a lot to be done, since the chosen track still has its problems. While the BT Group focuses on establishing relationships with partner countries and providing their services outside the UK, the threat that the rivals will take over telecommunication services in Britain grow. It seems that the BT Group should also try to follow the Contingency Theory and try combine several approaches at once; for example, the company could continue develop their business overseas and a t the same time promote more open company policies with the help of the leaderÃ¢â¬âmember leadership style. While currently, the second quarter to September income in BT Group is the highest among the telecommunication services all over the United Kingdom, it is still worth keeping in mind that the revenues reached the same number, Ã £4.5 billion, in the first quarter to 30 September 2012. Hence, the company does not seem to have progressed over the past few months. According to the example of the BT Group, the contingency leadership theory takes the first place among the currently existing leadership approaches. While it does not involve radical changes, it helps a company adapt to the changes in economical, financial, political or any other factors that have their impact on the companyÃ¢â¬â¢s productivity. While the BT Group still has a long way to go to keep its score just as high, the progress that BT made is truly incredible. The given case is a graphic example of how a c hange in the leadership style can make a firm rise from the ashes. Proving once again that situational leadership strategy inspired by the contingency theory is the best way to tackle the problems of a specific organization, the case of the BT Group shows that everything is possible with the right attitude and approach. Reference List Bass, B M, 2008, The handbook of leadership: theory, research and managerial applications, Free Press, New York, NY. Betrocci, D I 2009, Leadership in organizations: there is difference between leaders and managers, University Press of America, Lanham, MD. BT 2012, The BT Story. Web. Cooper, C L., Johnson, S and Holdsworth, L, 2012, Organizational behavior for dummies, John Wiley Sons, New York, NY. Lussier, Robert N. Achua, C F, 2010, Leadership: theory, application, skill development. Cengage Learning, Stamford, CT. Northouse, P G, 2010, Leadership: theory and practice. SAGE, Thousand Oaks, CA:. 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