The Performance Appraisal: Advantages and Disadvantages

The Performance Appraisal: Advantages and Disadvantages Shari M. Kern   The performance assessment is the procedure through which employee performance is assessed, feedback is provided to the employee, and corrective action plans are designed (Youssef, 2015, Section 6.2, What is Performance Appraisal and Why is it Important? para 1). Performance appraisal is deemed an important means for decision-making needs of todays businesses. The performance appraisal is the method by which businesses appraise job performance. Typically, a performance appraisal system involves a manager to assess each employees performance corresponding to performance benchmarks that have previously been set up over a period of time. Performance appraisal methods also present a foundation for forecasting improvement, as well as a means for determining merit, raises, new positions within the business and even dismissals. Strategic Advantage of Performance Appraisals One of the several advantages of performance appraisal is, in the hustle and hectic working life, it extends a valuable opportunity for a manager and subordinate to have break for a private conversation about matters positive or negative that otherwise may not be spoken about. Performance appraisal proposes a good effort to focus on job accomplishments and targets, to discern and improve current problems, and to inspire improved future performance. For example, performance appraisals can have a profound effect on motivation and morale, it offers an excellent opportunity for managers to recognize and reach an agreement on individual training and development necessities, and it can examine the success of a businesss recruitment and orientation procedures. The Potential Forms of Bias Within Appraisals Systems Bias can impact employee performance appraisals in extraordinarily damaging ways. A good manager must be impartial about the performance of their workers. A performance appraisal bias can misrepresent a managers and a businesss assessment of how a worker is doing. Some biases are stereotyping (inaccurate results against certain employees belonging to a group), halo effect (erroneous judgments about an employee based on a limited number of performance dimensions), self-fulling prophecies (We tend to see what we expect to see. Research shows that when other things are equal, if managers poorly judge employees to be failures and expect these employees to fail, then the employees are likely to fail. On the other hand, if a manager believes in an employee and expects him or her to succeed, then he or she will be likely to succeed), and the fundamental attribution error (Employee blames others for their failures but do not give them enough credit for their successes. If left unchecked, thi s common attributional bias can be detrimental to performance appraisal) (Youssef, 2015, Section 6.6, Opportunities, Challenges and Recent Developments in Performance Management, para 16). Performance Appraisals Contribute to the Achievement of Strategic Objectives The success of a performance appraisal can be assessed in how good it accomplishes its strategic objectives. Performance objectives determine how a business strategy will be attained. Performance objectives also perform a key function in distinguishing the final outcomes required because of employees intense work and commitment. Performance objectives are a requirement in aligning well-defined objectives for employees. Performance objectives challenge employees to attain the greatest outcomes to encourage business development and make constant progress to meet the challenges and shifting demands of the marketplace. Performance objectives should be well-defined and direct engagement. Knowing the strategic objectives in performance appraisals can support a business to modify performance appraisals to meet business desires. In conclusion, performance appraisal is deemed an important tool for decision-making needs of todays businesses. The performance appraisal is the method by which businesses appraise job performance. When done successfully, employee performance appraisals are incredibly advantageous to the efficiency of a business. Performance appraisals offer a business with the methods to gather data and share business and specific objectives to each employee. These appraisals are methods that can make all employees more beneficial and involved in their work and thus make the business more prosperous. References Youssef, C. (2015). Human resource management. (2nd ed.). San Diego, CA: Bridgepoint Education.

Tiger Airways Case Study

Tiger Airways Case Study Tiger Airways is an ultra-low cost airline which commenced services on 25 March 2005. It is currently the largest low-cost airline operating out of Singapore in terms of passengers carried. In 2006, the airline flew 1.2 million passengers, a growth of 75% from the previous year. These days, the hottest news pops that Tiger Airways and Thai Airways International will form an airline based in Thailand, where Thai Airways International and Tiger Airways will own 51% and 49% respectively of the newly formed airline. Operations are expected to begin in the 1st quarter of 2011. This paper is based on this information with further discussion the business model and strategies with Tiger Airways and the whole low-cost airline industry. Question 1 a) Discuss why Tiger Airways jointly launch a low-cost airline with Thai Airways. Provide 5 (five) reasons. Tiger Airways and Thai Airways are both infusive airlines in Asia. Tiger Airways jointly launch a low-cost airline with Thai Airways can benefits both two companies to achieve a win-win situation. Tiger Airways based on Singapore, choose to co-operate with Thai Airways could further develop the international market in Asia. Thailand is one of the most famous tourist resorts in the world. Tourism is a major economic factor in Thailand, contributing an estimated 6.7% to Thailands GDP. No doubt, more and more people will choose Tiger Airways to Thailand as it price advantages. This strategic decision will attract more passengers to Tiger Airways. Compare to Jet star, Air Asia and other low-cost airlines, Tiger Airways is still smaller than its rivals. This move could increase the overall strength of the market competitiveness in Asia. Tiger Airways is all along with its low-cost airline business model from the day when it established. This is a superexcellent chance to advertise its business model and corporate image. b) Evaluate whether Tiger Airways decision in the above strategy is considered as a strategic decision. Support with 6 (six) reasons. The definition of a strategic decision is the decision that is concerned with whole environment in which the firm operates the entire resources and the people who form the company and the interface between the two. There are some characteristics/features of a strategic decision A strategic decision has a major resource proposition for an organization. The resource proposition of Tigers decision is to occupy Thailands international airlines which concerned possess a new market of Asia civil aviation. A strategic decision deal with harmonizing organizational resource capabilities with the threats and opportunities. Thai Airways used to be Tigers competitor, this decision change the competitor to its partner contains with threats and opportunities. A strategic decision deal with the range of organizational activities. Tiger Airways plans to increase its fleet to 68 by 2015 and has the same pan-Asian aspirations as its competitors through this co-operation. A strategic decision involves a change of major kind since an organization operates in ever-changing environment. Both Tiger Airways and Thai Airways are low-cost airlines. This move signified that the two companies want to through this co-operation to change the environment of Asia civil aviation. A strategic decision will involve a lot of risk. Thai Airways own 51% of the low cost airline that means they control the scales. If some contradictions between them, this decision will be a big risk for Tiger Airways. A strategic decision is consider both administrative and operational decisions. Tigers decision aim to reduce cost which co-operate with Thai Airways to achieve the airline business in Thailand through its operational decision of cost-saving actions. c) Discuss which 5 (five) macro-environment factors that will most likely affect the low-cost airline industry. Political factors are how and to what degree a government intervenes in the economy. Specifically, political factors include areas such as tax policy, environmental law, trade restrictions, tariffs, and political stability. Eg, if the government wants to increase the airport construction fees, that must can be a big challenge for the low-cost airline industry. Because it will threaten the price advantage which is the biggest advantage for low-cost airline industry compare to others. Furthermore, governments have great influence on the airport infrastructure built, foreign affairs and many other factors that will most likely affect the low-cost airline industry. Economic factors include economic growth, exchange rates and the inflation rate. These factors have major impacts on how air tickets operate and make the price decisions to each low-cost airline industry company. As the low-cost airlines usually between country to country ,the exchange rates and other economic factors will direct influence the costs of goods and the supply and the price of tickets in the low-cost airline industry . Social factors include the cultural aspects and include health consciousness, population growth rate, age distribution, career attitudes and emphasis on safety. Trends in social factors affect the demand for the low-cost airlines products and how that company operates. For example, Tiger Airways not only supply the airline services but also supply hotel booking, sightseeing tour and other services. But all these should take different social factors into account. Technological factors include technological aspects such as aerosatsystem, technology incentives and the rate of technological change in this industry. They can determine barriers to entry, minimum efficient service level and influence strategic decisions. Furthermore, technological shifts can affect costs, quality, and lead to innovation in the low-cost airline industry. Law factors include the relevant laws affect low-cost airlines. Eg. Tiger Airway Australian only provide domestic service in Australian, because the legal rule of Australian to limit. Question 2 Based on the case study and information on the webpage (www.tigerairways.com/sg), analyze 3 (three) levels of strategy that you can identify at Tiger airways. Corporate and Business level strategy. Operational strategy. Porters Competitive Strategy Model Porter (1980) has described a category scheme consisting of three general types of strategies that are commonly used by businesses. These three generic strategies are defined along two dimensions: strategic scope and strategic strength. Strategic scope is a demand side dimension and looks at the size and composition of the market you intend to target. Strategic strength is a supply-side dimension and looks at the strength or core competency of the firm. In particular he identified two competencies that he felt were most important: product differentiation and product cost Competitive Strategies for Tiger airways In view of the above challenges, low-cost airlines must do three things to ensure their long-term survival. Cost Leadership. Tiger airways maintained a sustainable low-cost advantage over their full-service competitors. Tiger airways ensured that their costs per passenger-km continue to be 50 per cent or more below those of full-service airlines and continuing to reduce their own costs too. Differentiation Strategy. Tiger airways focused on differentiation of their product, that mean they must also offer a product with some frills, which is very highly rated by passengers in terms of value for money. They have draw lessons from the successful model by their competitors like Virgin Blue in Australia and JetBlue in the USA. Virgin Blue was the first carrier outside North America to introduce multi-channel real-time satellite TV to its flights called Live2Air. The strategies of Tiger airways are twofold to take on the legacy carriers and attract higher-yield passengers, and to add points of difference from other low-cost airlines Market Share and Market Segmentation Strategy Tiger airways ensured that on most of their routes they become the number one or number two carriers in terms of market share in Asia. This dominance, combined with their low fares, gives them a very powerful defensive position should new competitors attempt to enter, while also ensuring a strong cash-flow base on which to mount further expansion. Tiger Airways survival and success is due in no small measure to its growth strategy, which has focused on becoming dominant in most of its markets. Operational strategy As mentioned earlier, the chief difference between low cost carriers and traditional airlines fall into three groups: service savings, operational savings and overhead savings. Tiger Airways tend to focus on short haul route. To achieve the low operating costs per passenger, this type of carriers need to have as many seats on board its aircraft as possible, to fill them as much as possible, and to fly the aircraft as often as possible. Tiger Airways want to through its low cost airline affect the traditional airline hub-and-spoke networks poses interesting questions for the airlines industry and policy makers. It means choosing to perform a system of activities differently from that of traditional rivals and providing a coherent set of key activities that reinforce each other to achieve such position in a sustainable manner. Despite the challenges faced, Tigers low-cost model appears to be sustainable in Asia as it has been in the Singapore, Thailand, China and elsewhere. It has a different and substantially lower cost structure than the conventional network model, because the latter imposes higher costs on those who operate network systems. While Tigers network airlines can reduce their unit costs further, they can match those on short-haul routes. Tiger Airways competed for a part of their own traditional markets with low-cost carriers and it will increasingly generate most of their business from the denser, short-haul, inclusive tour markets and from long-haul routes. Within Asia, in South-east Asia and even in Australia, Tiger Airways cleared that low-cost airlines will become the dominant carriers in domestic and short-haul markets. It is not a passing phase. Tiger Airways was here to stay and it will dominate most of the markets they enter. Tiger Airways jointly launch a low-cost airline with Thai Airways was a example to prove. Question 3 a) Using Porters 5 (five) forces model, analyse all the forces in the low-cost airline industry. Buyer power Low-cost Airlines generally have a large number of buyers. Many of these are individual consumers purchasing flights directly from the airline, although there are B2B sales to charter companies, discounters, and similar buyers. In the low-cost carrier market, airlines are competing for the same market segment. The bargaining power of the consumers is increasing as the supply exceeds the demands. Price sensitivity is high; a result of factors such as the growth of online price comparison sites, corporate travel expense policies for business flyers such as Jetstar and Virgin Blue. The consumers are price sensitive. One of the challenges that all the low-cost Airline must face is the lack of customer loyalty in the low-cost carrier arena where passengers easily switch to airlines that offer lower fares. Buyers have no loyalty in low cost airlines such as Tiger Airways as the trip is purchased according to price. Supplier power Low-cost Airlines must enter into contracts when buying or leasing aircraft from suppliers. Breaking hose contracts can often imply a heavy financial cost. Furthermore, Boeing and Airbus effectively form a duopoly of suppliers of new jetliners, not only in the large jetliner category, with planes such as the 747 and A380 but also in small jetliner category with planes such as the 737 and A320. In the market for lower-capacity regional jets and propeller-driven aircraft, companies such as Embraer, ATR, and Bombadier are significant suppliers. The relative lack of alternative manufacturers or substitute inputs increases supplier power. Air Indias passenger fleet consists of 46 Boeing, 78 Airbus, seven ATR, and seven Bombadier planes. Southwest Airlines is the worlds largest low-cost carrier. Southwests successful business model involves not only flying multiple short, quick trips into the secondary airports of major markets but also using only one aircraft type, the Boeing 737. Suppliers offer fuel, labor, airport and security services all with changing prices. Aviation fuel is another vital input. Number of fuel suppliers is still relatively few. However, it is difficult for suppliers to forward integrate. Strategic alliance among airlines for economies size such as code sharing and economies scale such as purchase of fuel and aircraft could reduce the supplier power in some level. New entrants The economic entrance barriers to the not only low-cost airlines but also all the airlines industry is relatively high. For an entirely new company, they include the considerable up-front outlay needed to obtain planes, although this may not be an issue for an existing airline beginning to offer flights to a new country or region. Distribution is not particularly easy, as new players need to establish an online booking system, and relationships with travel agents and other sales intermediaries. It is also vital to obtain airport slots for take-off and landing. There has been a growth in air traffic over recent years which mean that congestion at airports in many countries is expected, especially the major hubs. The time slot given to an low-cost airline is important, and is something all airlines negotiate with airports. Established airlines will already hold the monopoly over slots at certain airports, making it harder for new low-cost airlines to infiltrate. This creates difficulties for a new low-cost airline aiming to negotiate prime slots at busy airports and can result in it being restricted to offering flights only at off-peak times, or having to fly to airports further away from popular destinations. This can be a deterrent to new airlines, as customers may seek more convenient alternatives. For example, in Singapore infrastructure constraints pose as a formidable entry barrier. Because of the intense price war, a new entrant will find it almost impossible to offer rates that are lower than Tiger Airways. The airline industry is highly capital intensive. New entrants are challenged by expensive aircrafts, high cost of operation and war for talents. New entrants also find it very hard to look for suitable airport as airport slots are reserved for established airlines. Substitutes Other forms of transport such as road, rail and marine travel are considered as substitutes to airline travel. Buyers take into account not only the cost of travel but also how long the journey will take on corresponding forms of transportation. In some countries, air travel makes it easier to overcome long distances and has certain benefits such as shorter travel time than rail travel, even including the time to check in. However based on the price advantages of low-cost airlines, rail and road transportation will not becomes more attractive alternatives for a majority of buyers. Furthermore, many consumers are now aware of the environmental impact of air travel, and are turning to rail travel instead. It is possible to travel around much of the world by long-distance bus or train, although levels of service vary and some border crossings may present a difficulty. Rivalry In the airline industry where the market is highly saturated, the rivalry between existing airlines is one of the strongest forces. Rivalry is increased by the presence of low-cost carriers in the market, as these companies can compete more intensely on price. Switching costs for buyers are low. Besides, existing airlines such as SIA will sometimes marketed big promotions which almost has the same price as low-cost airlines, it means that it is easy for them to change to a competitor. In terms of intra-industry competition is also high. Eg. In Asia, Tiger Airways as a new entrant poses as a threat to established low-cost carriers such as Jetstar and Virgin Blue. The competition in the budget sector is very high as all airlines has the same no frills philosophy. Price is the major differentiating factor in the low-cost carrier market, an area where Tiger Airways lead. b) Provide a conclusion and reason on the attractiveness of the low-cost airline industry. No doubt, the biggest attractiveness of low-cost airline industry is based on its great price advantage as it saves money compare to the ticket price of the traditional airways. Besides, it promotes great vacations. For example, Tiger Airways also supply Airways hotels, Travel insurance, Budget accommodation, Car hire etc. With Tiger Airways you would be thrilled because you get to have a great holiday. At the same price compare to other transports ,you do not need to worry anymore about long and tiresome journeys by bus, train or car. This would invariably involve countless days on road, living out of a suitcase and staying in uncomfortable hotels. The flight does away with all this inconvenience. Question 4 Explain value chain analysis. Based on the case and research done through the companys website, analyse the value chain of Tiger Airways. Value Chain Analysis describes the activities that take place in a business and relates them to an analysis of the competitive strength of the business. Influential work by Michael Porter suggested that the activities of a business could be grouped under two headings: (1) Primary Activities those that are directly concerned with creating and delivering a product (e.g. component assembly); (2) Support Activities, which whilst they are not directly involved in production, may increase effectiveness or efficiency (e.g. human resource management). It is rare for a business to undertake all primary and support activities. Primary Activities Primary value chain activities of Tiger Airways include: Primary Activity Description Inbound logistics Tiger Airways based on Singapore, Tiger Airways can attempt to co-operate with Airbus to lower the cost of the airplanes. It can also co-operate with food suppliers to get cheaper and more delicious. Operations Tiger Airways now operates a fleet of 19 Airbus A320-family aircraft and is committed to increasing its fleet size to 68 by December 2015. The airline operates flights to 33 destinations across 11 countries and territories in Asia and Australia from its aircraft bases in three locations Singapores Changi Airport Budget Terminal, Tullamarine Airport in Melbourne and Adelaide Airport in South Australia. Besides it has detail duties, responsibilities and specifications for every position include Flight Dispatchers, Operations Controllers, Flight Safety Manager, Pilots and Cabin Crew. Outbound logistics Tiger Airways of Singapore has agreed to open their operations in various countries. It is also stepping forward to associate with a Global Distribution System company to strengthen its ticketing system to enable travelers to access to more passengers. Marketing and sales The Company recorded an operating profit of $28.0 million and a profit for the year attributable to shareholders of the Company of $28.2 million for the financial year ended 31 March 2010. Revenues grew 28.6% to $486.2 million while operating costs grew only 7.7%, despite the 53.8% increase in passengers compared to the preceding 12 months. Growth in revenues was supported by the combination of passenger seat revenue increasing 19.6% and ancillary revenue growth of 87.4%. Ancillary revenues currently comprise 19.4% of our revenue base, an increase from 13.3% in FY2009. Management continues to be focused on optimising ancillary revenues, with initiatives such as the carriage of cargo being introduced in FY2011. During the last 12 months from 2009 to 2010 the number of passengers reached at 4,872,000 Service Besides online sales and flying services à ¯Ã‚ ¼Ã…’Tiger Airways also supply Tiger Airways hotels, Travel insurance , Budget accommodation, Car hire etc. Support Activities Support activities include: Secondary Activity Description Procurement The procurement of Tiger Airways was a low-cost carrier operates a fleet of Airbus A320s. Now Tiger Airways has a fleet of 19 Airbus A320 aircraft and it aim to increasing its fleet size to 68 by December 2015. Human Resource Management The human resource management was organized by its special department in details. Processing of Employment Pass, Airport Pass and Staff Pass Administer Staff intranet database Administer procedures for new hires and resigned employees Compiling of information for surveys requested by its special agencies. Technology Development Around 75% of Tiger Airways seat sales come from the internet, both from the public and agents, while the balance 25% comes from call centers and airport outlets. By these years ,Tiger Airways continue to develop its webs power by co-operate with Facebook, Twiter, Youtube and other media agencies . It also emphasis on advising. For example in 2005, it had an increase of more than 60% in revenue and website visits since it launched its new advertising campaign: Whats New Pussycat? Infrastructure By 16 June 2010, the biggest shareholder of Tiger Airways is Singapore Airline Limited which holds 33.55% of the company shares. Approximately, 31.8% of the companys shares are held in the hands of public. Question 5 a) Analyse at least 5 (five) common cost-cutting strategies adopted by low-cost carriers that directly affect the passengers. 1. Develop creativity. A good example to support this strategy is the invention of Boeing 737. The Boeing 737 is a short-term and lower-cost twin-engine airliner developed by U.S. which influenced the whole low cost airline in the world. With this aircraft, it can save the gas but also narrow the costing of supplier to gain the biggest benefit of airline. Southwest Airline is the biggest low-cost airline in the world which using only this aircraft type to add a batch management to get the cost-cutting. 2. Rational use of resources. The low-cost airlines usual have limit resources, however use it rational become the key to success. After 911 the airline industry in U.S. was decreased. But Southwest Airline remodeled its Boeing 737 , added six more seats to every plane and guarantee will not effect the comfortable of the passengers, which help Southwest gain the profit even the past-911 time. 3. Efficient chick in service. The low-cost airways usually provide short-term service. The fly travel time will not over 2 hours. All the passengers concerned how fast they can chick in and how long they can arrive. The same successful example of Southwest Airline proved that they only need 10-15 minutes from chick in to take off, which usually take 1 hour to do that. This action not only gains the trust of passengers but also save the time. As time is money in business, they gain the efficient cost-cutting. 4. 0 strategy. Every low-cost airline should have a self- orientation of their company. For the low-cost airlines 0 means no luxury fitment, no free-service of food, no provide of TV and ear phone ect. to make a cost-cutting. 5. Effective and efficient operation. The low-cost airlines operate many planes. The key is how to operate them efficient. The biggest successful factor of Southwest Airline is the number 11 in its cost-cutting culture as 11 means they guarantee every Boeing 737 of their airline fly 11 times per day. It gains both the passengers benefit and the max operation of their airplanes. b) Recommend at least 3 (three) future strategies that Tiger Airways could implement to maintain its low-cost strategies. Break-even. A useful method for making expense comparisons is break-even analysis. Break-even is the point at which gross profit equals expenses. In a business year, it is the time at which your sales volume has become sufficient to enable your over-all operation to start showing a profit. It is important for low-cost airlines to remember that once sales pass the break-even point, the fixed expenses percentage goes down as the sales volume goes up. Locating Reducible Expenses. The airlines profit and loss statement provides a summary of expense information and is the focal point in locating expenses that can be cut. Taking cost cutting Action. When the airlines have located a problem expense area, the next step obviously is to reduce that cost so as to increase the profit. A key to the effectiveness of your cost-cutting action is the worth of the various expenditures. As long as you know the worth of your expenditures, you can profit by making small improvements in expenses. Keep an open eye and an open mind. It is better to do a spot analysis once a month than to wait several months and then do a detailed study. Take action as soon as possible. You can refine your cost-cutting action as you go along. Conclusion The low-cost airline revolution has injected a dose of democracy into the travel world. Low-cost airlines have succeeded in taking over a large part of the market. Tiger Airways jointly launch a low-cost airline with Thai Airways provide a new opportunity, a new market and a new business model based on its successful business strategies. Moreover, Tiger Airways get ready to take off more quickly; enabling it as competitive airline to schedule more flights and provide more attractive schedules for passengers. No doubt, there is a bright future for Tiger Airway!

Electoral Process Essay -- Politics, Democracy, British Government

In most of the modern societies an electoral process is considered an important symbol of the democracy that represents the concept of freedom of choice and fairness. The UK coalition government is now facing the need to reform the process by choosing between FPTP system and AV. As the final decision can affect the whole society, it is necessary to carefully analyze advantages and disadvantages of both systems. FPTP allows a candidate to win by the majority of the votes. It is a straightforward system that requires comparatively simplified procedures. In addition, it usually provides stable and strong one-party government. Also, elected party usually governs effectively and carries on the manifesto promises. Another advantage is a good-organized constituency link between MPs and their constituents. They can easily contact their MP to have support (Coxall et al. 2003, Jones and Norton 2010). Finally, FPTP tent to limit extremist parties like fascist, racist and other â€Å"hate† parties, for example British National Party. However, there are several disadvantages that should be considered. The most important weakness and the major criticism of FPTP system is ‘wasted votes’ issue (Lowe et al. 2010, p.115). For instance, in 2005 the UK General Election 65% of overall votes was wasted (BBC news 2005). Each vote is significant as it affects final results. Moreover, wasted votes lead to depressed turnout. Less people are willing to vote as they think their votes are not counted or make no change because there is a constantly winning party called ‘Safe seat’. In the last election, for instance, many people wanted to vote for Liberal-Democrats party, ‘safe seats’ and wasted votes dissuaded them to do it (Lowe et al. 2010, Jones and Norton ... ...h, the problem of wasted votes and disproportional allocation become more serious year by year (P. Whiteley 2010). The statistics show that turn out in UK is increasing from 2001 year coming to the level of 65.1%. In addition, elections require huge spending from the government and parties (UK political Info 2010a, 2010b, Jones and Norton 2010). As UK government is currently facing a need to cut the budget up to 40%, AV is not a useful method (Pollwatch 2010, J. Bingham 2010). To sum up, AV system adoption is a quite controversial question. Although AV system is solving some problems of FPTP system and providing fairer conditions for candidates and electors, adoption of this system can be quite difficult for the UK Coalition Government in term of budget and time spent. In my opinion, it is better to remain current election system as careful analysis is required.

lieshod Marlow’s Lie in Joseph Conrads Heart of Darkness Essays

Marlow’s Lie in Heart of Darkness       Throughout the Heart of Darkness scenes, we get several glimpses of Marlow's particular attitudes towards women, that they are creatures that live "in a world of their own, and that there had never been anything like it, and never can be" (Longman, p. 2199). Women are able to create and see the beauty in life, something that is harder for men to do, roughened by hard work and misfortunes. Marlow also states, this time to his audience aboard the Nellie, "We must help them to stay in that beautiful world of their own, lest ours gets worse" (Longman, p. 2225). By this he means simply that part of what draws men to women is their capacity for beauty, to preserve and keep the "finer" things in life, which men can draw upon to enlighten them and give a sense of peace to their existence.    This sense of needing to preserve the beliefs and "beauty" of the Intended is why Marlow lies to her in the end. He abhors lies, his own beliefs that "there is a taint of death, a flavour of mortality in lies..." (Longman, p. 2210) is what leads to the d...

The Four Functions of Management Essay -- essays research papers

The Four Functions of Management There are four functions of management that need to be successfully applied if a business is to survive and thrive in the fast paced economy of today. They are planning, organizing, leading, and controlling. Every business, large or small, public or private will benefit from a well-structured, coordinated, directed, and monitored business plan. Planning is the process of defining a structured sequence of specific tasks that need to be accomplished to achieve a goal. Good planning is key to their success of all projects. Some projects involve the installation of whole production lines and others may involve only modifications to an existing line. However the size or scope of the project, there must be a well thought out plan in place to guarantee a successful outcome. When planning a project it is important to first imagine the completed project. The project manager must ask him/herself, what will the successful project look like? What are the customer’s requirements? When these questions are answered the project manager can move forward with an action plan. One method a project manager will use to begin developing the action plan is to break the project down into manageable segments. Each segment will have numerable tasks and we will call them â€Å"milestones†. When building the list of project milestones it is helpful to begin by imagining the completed project and working backwards, consider all the steps it took to get there. Now that the project manager has a list of milestones and has broken them down into manageable segments, he or she will organize the necessary resources into a project team. This organizational aspect is vital to the success of the project. The team will be comprised of individuals qualified to deliver those milestones. A project manager charged with modifying an aseptic filling line will select team members from engineering, manufacturing, process validation, quality assurance, and safety. The project manager is now the project team leader. The team will meet and agree on a timeline for meeting the project milestones. The team leader will establish the frequency of subsequent meetings, assign responsibilities, and state member expectations through the development of a team charter. The entire team will participate in developing the charter. The charter will describe their com... ...t has 4 fields they are the action item, date assigned, individuals responsible, and date when they expect to deliver. During each team meeting the team members are required to report the progress made on their action items and comment on their anticipated completion. It may be possible for the team leader to adapt and modify the timeline based on unexpected challenges or changes that can often occur. After each team meeting the scribe will produce a formal-minutes document and E-mail it to all members. This is helpful in that all members will know through their â€Å"next steps† what is expected of them and their role on the team. The team has completed their goals when all milestones in the plan have been achieved. As technology changes, businesses have to change with it to remain competitive. Businesses must be willing to apply the four functions of management in new ways. In the example above the team concept is used to empower and motivate its members by giving them ownership in the project, however a team needs a good plan to follow. Today’s manager is often a team leader that delegates, motivates, controls, and targets resources towards the successful completion of the project.

Limited Brands Financial Analysis

Limited Brands, Inc. , like many other companies, saw a downturn in profits and revenues during the economic slowdown. Limited Brands owns companies such as Victoria’s Secret, The Limited, Bath and Body Works and others. Chairperson and CEO Leslie Wexner did not fear the economic crisis, she did not focus on things that were out of her control, but instead, focused on getting even closer to the customer. Wexner (2010) stated, â€Å"we had to be frugal with resources, time and money†¦we streamlined the business, stayed lean and quick and concentrated all our efforts on the few things that produce the biggest returns. While there was a decline between 2009 and 2010, Wexner’s efforts paid off, as Limited Brands has seen an increase in profit margin during the 2010 year. Analyzing the notes in the income statement gives a better understanding of how Limited Brands is operating. Limited Brands fiscal year ends on the last Saturday of January each year. On January 31, 2 009, the cash and cash equivalents were $1. 17 million. On January 30, 2010, cash and cash equivalents were $1. 8 million. According to the notes, cash and cash equivalents consist of â€Å"cash on hand, demand deposits with financial institutions and highly liquid investments with original maturities of less than 90 days† (Limited Brands, 2010). The notes also state, â€Å"The companies outstanding checks, which amounted to $76 million as of January 30, 2010 and $86 million as of January first 2009, are included in Accounts Payable on the Consolidated Balance Sheets† (Limited Brands, 2010). Limited Brands continues to disclose the nature of their investment portfolio, which currently consists of â€Å"U. S. and Canadian government obligations, U. S. Treasury and AAA-rated money market funds, bank time deposits, and highly rated commercial paper† (Limited Brands, 2010). Accounts Receivables 2009 were $236 million compared to 2010’s receivables balance of $219 million. Limited Brands not only monitors the use and creditworthiness of individuals and businesses, when extending credit, but also limits the amount of credit exposure with any one entity when requesting credit. Inventories in 2009 were valued at $1. 18 million and declined to just $1. 03 million in 2010. For Limited Brands, inventories are primarily valued at the lower cost or market, on a weighted-average cost basis. Valuation adjustments are made at the discretion of management if the cost of inventory on hand, exceeds the amount expected to receive from sale or disposal of the inventory. Management bases the decision to adjust value based on future demand and market conditions, while also taking into consideration and analyzing historical sales data. Inventory Loss adjustments are also made for estimated physical loss of inventory since the last physical inventory. Managers will also take into consideration operating trends and historical data when making these adjustments. As of January 30, 2010, inventories consisted of: Finished Goods Merchandise$ 973 million Raw Materials and Merchandise Components$ 64 million Total Inventories$1,037 million Limited Brands discloses in the Restructuring section: In 2007 they recognized a pre-tax charge of $19 million related to excess raw material and component inventory with Bath and Body Works. The cost was included in Cost of Goods Sold, buying and occupancy in the 2007 Consolidated Statement of Income. Gross Profits for 2009 were $3. 02 million versus $3 million in 2008.

Bsnl Change Management Strategy

BSNL warring portfolio & channel Management M Ramesh, emailprotected com Synopsis Bharat Sanchar Nigam Ltd. formed on initiative October 2000, is sensation of the largest & leading customary domain units providing comprehensive range of telecommunicationmunication service in India. They operate under 13 disparate give amodal values. Their guest al-Qaida as on July 31, 2011 was at 95. 14 Million. BSNL has an inst tout ensembleed realise in the awkward comprising ab aside 43. 74 jillion course of study basic knell capacity, 8. 83 million WLL capacity, 72. 60 million GSM capacity, 37,885 fixed ex armorial bearingens, 68,162 GSM BTSs, 12,071 CDMA Towers, 197 Satellite Stations, 6,86,644 RKm. f OFC, 50,430 RKm. of atomise network connecting 623 districts, 7330 cities/towns & 5. 8 lakhs villages. However, with much(prenominal) a large base, excellent brand rec all, g all overnmental backing and massive workforce, the company has not been doing well and in fact has account a expiration in the forward financial year. BSNL had reported the highest net profit of over Rs10,000 crore in 2005-06 but since accordingly its profits take a crap been falling. The losses strike much than tripled to about Rs. 6,000 crores during 2010-11 mainly repayable to hefty outgo for employees salary and expenses borne by the PSU for procuring 3G and BWA spectrum.The company had registered a net loss of Rs. 1,823 crores during 2009-10. The total taxs of the company also declined to Rs 28,876 crore during the authorized year, down nearly 10% from Rs 32,072 crore in the previous financial year. Recipient of the favourable Eagle award in 2004 & 2005 for the some trusted brand in telecom sector, BSNL is today struggling to retain its identity. This circumscribe aims atomic bit 18 preparing a combative outline for BSNL and select capable competitive portfolio so that the company potful emerge out of the crisis it is in.Further, the qualifying concern dodging that has to be adopted in order to practice the changes in the cheek is forge backn in this section. 1. warring Strategy and adapted corporal portfolio Before we embark upon suggesting a worthy corporate portfolio, it is important to analyse the authentic the functioning and instruction of BSNL. a) No suspect that its posture and reach dragways the country is its biggest force-out. Established offices in all the metros, A, B & C course of study cities, and installations and offices in the remotest part of the kingdom, especially J, North East is a strength they corporation easily tap on their road to recovery. ) Long part employees and excellent association of the commercialize, clients, tacit knowledge base of BSNL is unique. They be different from the challenger since guests view BSNL as a 2 rascal severalise run faithful and profit not being the further motive, would be allow foring to trust them more(prenominal)(prenominal) than other( a) competitors. c) Even today, they rule the world line connections and command a grocery storeplace share of over 65% of the client base and any of the revival and restructuring plans for BSNL has to give way through this channel. ) BSNL, being a on the whole presidential term owned organisation, they terminate use their political affiliations to change the rules of the market, create institution barriers for competition, and lobby for influencing the market to supplement their strengths, policies that give them an edge, and those which do not violate TRAI and other fair trade practices, female genital organ be adopted. While we discuss the selection of worthy portfolio from the competitive strategies, apart from the strengths of BSNL highlighted above, it is important that the life-and-death questions of what can be done that is not being done at BSNL is pondered. close to of the questions that we concord to ask and find answers that hold divulge to developing a c ompetitive system and designing a competent portfolio are 1. BSNL has a tidy sum To conk the largest Telecom Service provider in South East Asia. For this it is important to clear the parameter for being the largest. Is it revenue, Av. Revenue per User, profit, subscribers, net profit (no of exchanges, BTS etc)? Clarity in purpose and vision is essential to developing a suitable competitive strategy. 2. Is the mission aligned with its electric accredited position?Has it redefined its mission from a state run entity, interested in nation development to a corporate that has to introduce to its owners and stake holders? 3. What are the investments that experience been make or planned to be make, in order to provide world class State-of-art technology telecom run on demand at affordable cost and to provide world class telecom infrastructure to develop countrys economy. 4. What has been done towards continuous innovation in product and saving of services with the appropriate set is the key strategy for developing the trust in customer so that he waits his trueness with BSNL. . BSNL can target to acquire more than 50% of new acquisitions while maintaining live clientele. How pull up stakes this be done? 6. now landline base is cut down across the globe, BSNL, to be a Significant grocery store Power (SMP), essential(prenominal)iness(prenominal) increase it base to over 80%. 7. Ultimately it is the select, customer circumspection, and convictionly availability apart from price, which depart matter. What are the actions being taken towards these detailed success factors? 8. Cant at that place be just one brand i. e. BSNL? Has in that respect ever been an examination of their revenue break-up? Currently there are 13 brands that build to be developed and positioned. scallywag 9. on that channelize are sure distinctions that BSNL has, standardized being awarded the just about trusted telecom brand in year 2003 & 2004. They authorita tive the Golden Peacock award for better(p) Corporate Social responsibility. How can these be leveraged? 10. There are over one-lakh retailers, g-force franchisees, 3300 CSCs, 36000 exchanges and still BSNL is not visible a worry others? Why cant the dummy and people be utilized? 11. How to leverage the franchisee and STD-PCO strengths? Can these outlets be their core strength? 12. Why are the recharge coupons, India telephone Cards are in paucity when there is no capacity constraint?Is it wondering(a) inventory & supply strand care, or bad franchisee worry? 13. be there targets for the recharge coupons just like DELs & CellOne? Why can? t the spacious network of franchises be leveraged for better customer care and advance collection competency? 14. With competition heating up, gone are the days when customers deposited money with BSNL in give for connections and security money for value added services. There are no fixed deposits and the working(a) capital and othe r funds needs have to be met from operating revenues.What is the plan to improve collections, realize bills early, not on the uttermost day of payment and edit out bad debts? 15. In line with the market needs, does BSNL have a 24X7 culture in their organization, though operation and maintenance are provided on 24X7 basis? What about provisioning customer care and merchandise on 24X7 basis? Competitive strategy Pricing On the pricing front, BSNL does not have a filling but to follow the market trend. They can only bundle the packages in such a manner that the premium services bring more revenue. nidus must(prenominal) not be on reducing charges, but upgrading each customer by RS 20 RS 50 by offer them more add on germane(predicate) services. It is ordinarily much easier to sell excess things to existing customers than to add new customer, and the customer base of BSNL is quite huge and all-important(a) for this model. Differentiation In order to recite itself from comp etition, BSNL Business development units have to be given the task to develop and hold up long-term relations with corporate houses. MoUs have to be signed for bulk bills, One-point payments for triune service locations.Setting up refer Account Manager servicing different corporate and key accounts and offering whizz window approach to resolve all issues and prevent any unwanted issues. Focus BSNL has a strong hold on land line telephones, an important requirement for ADSL connections. There are huge benefits of ADSL over Wi-Fi & is very cost effective way to access Internet. BSNL is in a 4 knave unique position to leverage this unspoiled and its revenues, customer base and favourableness can improve multi-fold if it can furnish on this one aspect alone. coming together regime telecom companies ITI and MTNL with state-run BSNL is one of the options.This will give them a great advantage in terms of increased customer base, implementing change charge and brining in changes an d most importantly economy of scale, power of bargaining. crossbreeding In order to be more competitive in the present market BSNL must not only enjoin itself from competition, give a good and seductive price and have a counselinged approach. The competitive strategy recommended is Focus on improving ADSL services at hypnotic evaluate to households and offices, bundle it with land line connections and mobile connections.Offer central point complaint PAN India. For e. g. If a corporate company has branch and regional network, they must have the option of consolidated billing when they want and where they want to the level of conduce office control they want to implement. BSNL can also offer special rates and Closed User Group (CUG) for government sector and earn huge revenues, since this share is very price sensitive and is a very high volume user segment. More aggressive media campaign focused on the strategically selected segments will inspection and repair BSNL increa se its customer base.A change in its provide attitude make them focussed on customers rather than systems and procedures, riotous and efficient decision making with empowered employees. Continuity in supply chains, procuring of timberland equipment and products must be focussed on. aft(prenominal) defence and railways, BSNL is the countrys largest landholder. Its properties spoil 3,500 towns across India worth thousands of crores, making it the largest state-owned companies in terms of land assets. A turn around policy of BSNL should have this huge source of revenue at its core. 2.Change management strategy to enable it turnaround. No change in BSNL can emit and can be implemented without change of mindset in addition to the skills of marketing & sales. In this regards it is important to note that a research paper submitted by Vishwakarma build of Management, Pune in July 2010 after conducting a vista in BSNL concluded 5Page that the introduction of change seems to be mana ged in effect in the organisation with proper care and commitment and was agreed by the answerer BSNL employees with a mean 1. 022. The change is introduced by the consent of cover management.To keep up the pace with the dynamic environment the management encourages change by explaining and ensuring the minimization of contrary effects, and put efforts to convert employee defense into the acceptance. Employees were shew to be change oriented, as they have continuous learning attitude to keep match with the future organizational requirements. Respondents? shows resistance change in some issues delinquent to some security and personal reasons, which can be taken care by proper change management initiatives. BSNL must focus on improving its quality of employees and skilled manpower?They must focus the organizational setup more suitable for better results? The staff expense to revenue ratio could be a good indicator. Today, more than 47% of the revenue goes to compensable salaries to employees and this is the get-gole aspect of change that must be introduced. The decision making run must be based on scientific analysis of the precious customer data they already have such as calling pattern, payment habits, customs profile etc. Increased number of surveys, customer research and systematic and biannual analysis of Net growth in mobile and churn is to be conducted? go must be implemented to reduce the churn? Acquisition cost is usually said to be 5-8 times the retentiveness cost, and hence BSNL must focus on retention of customers. Management must not threaten the employees, they have been long armed service and loyal and at the same time demanding. The management should collect the employees in strategy and decision making and should help them to move over their minds and apply it to improve the quality of service, network, and working out of network in time utilising and merchandising the products before the technology becomes obsolete (like WIMAX). Considering the trustworthy scenario a Revolutionary change is infallible in BSNL and they should modify their competitive strategy readily in order to pull round in the hyper competitive telecom market in India. If one has to apply the McKinsey 7S cloth for the change management process in BSNL, it would be as under 1. strategical BSNL has to revisit its mission and evolve competitive strategies that are in line with the market dominant position that they want to be, exploiting their current strength of market leadership in land line connections. All their activities must be reoriented towards this change of positioning. Page 2. summation BSNL needs to revamp its board and its top management, to be more customer and market oriented, dynamic and profit driven. Culturally, it is established that BSNL is employees are open to adopting change and hence management should provide necessary training to regard that the process of heathen change is deployed quickly across all level s. 3. Scale Considering the strengths of BSNL presence and reach of BSNL, scale is never an issue. What the organisation needs today is not excerpt of new technology or resources it is change of direction of the employees and a cultural change.Retrenching employees is not the first and only option available. 4. Scope doubtless the scope of the change must involve all levels of the organisation and across all regions. BSNL is a homogeneous entity and changes at one level or within certain geography is not possible to implement. Certainly, depending upon the local customer bases, working conditions and cultural differences, adaptations can be allowed, but the change itself, must be pan organisation. 5. Speed Communications, ICT, and internet industry relies on speed and there is no room for laggards in this. BSNL must implement change management as swiftly as possible. . Sequence Since BSNL s confronted with many an issues to handle, the best place to start would be internal emplo yee attitude and cultural change and external customer comfort focus. If carefully and rapidly implemented, these two will have a cascading effect on other areas such as revenues, specie flows, asset management and so on that will turn around the organisation. 7. mien BSNL has the baggage of being a government owned company and attitude of staff cannot be changed overnight. Unions are strong and public opinion can be made and tarnished by the correct or defame handling of union issues.Change management in BSNL has to carefully crafted and cannot be dictate or thrust upon. The style has to be one of collaborative effort and everyone complicated must be clear with what is evaluate of them and how it impacts others, his / her results and overall company. Conclusion BSNL is at cross roads of its existence. The need to refine its competitive strategy and implement change management has never been more urgent than it is today. If BSNL has to hold up the tough market conditions, t he change management process must be initiated this instant and aligned with the competitive strategies that must be reworked. Page BIBLIOGRAPHY ? ? ? ? ? Marketing strategies of BSNL by GS Grover, NK Srivastava, & Sunil Kumar http//www. bsnl. in http//www. business-standard. com/india/index2. php http//www. moneycontrol. com/company-article/bharatsancharnigam/news/BSN http//www. moneycontrol. com/news/business/bsnls-loss-triples-to-rs-6000-cr3g-bwaoutgo_588976. hypertext mark-up language ? ? http//www. cellular-news. com/tags/bsnl/ Organisation Culture- A Case contract of BSNL LIMITED, Mrs. G. Nagamani, Prof. G. Krishna Mohan, http//www. vim. ac. in/UploadImages/Attachments/G. %20Nagamani%20&% 20G. % 20Krishna%20Mohan. pdf 8Page