Essay The Iron Triangle and Heclos Policy of Issue Networks

Heclo’s policy of issue networks is a new way of dealing with the connection between politics and its administration. Previously, the Iron Triangle was the way that the connection was dealt with. The Iron Triangle concept described the major players as congress, career bureaucrats and large interest groups. It was said that the groups had a give and take kind of relationship and eventually led to a reasonably easy way to create policy while somewhat satisfying each of the groups. Basically, the Congress passes laws, Bureaucrats implement the laws and the interest groups support the congress. However Heclo describes the new way of doing business in Washington. Heclo does not say the Iron Triangle theory is wrong he just says that†¦show more content†¦Heclo describes these groups as varied and operating on many different levels. We may have a small group that is very vocal and show up at meetings but do not reflect the majority of people. We may have a profe ssor or expert who is called by legislators for advice or to clarify some part of policy. Also, people are more involved and well read on issues and understand the issues more completely. There are a few problems with this way of doing things and we can look at the â€Å"Reinventing School Lunch† policy to see how this system can be effective and also cause some delays and problems. The original goal of the food lunch program was to feed malnourished school children and to help farmers by buying up some of their extra crops and commodities. This program worked well for 50 years and was a popular and accepted program. In the 1990’s the program was looked at and it was determined to look at and reinvent the school lunch program. There were many players in this reinvention and we have Helen Haas who is the head of the â€Å"food and nutrition services.† She is the lady who develops a feud with the School food service association. There are also other pla yers in the story including, school food workers, parent and teacher groups, the farmers, dietary advocacy groups, the dairy council, meat council, and various health groups. The

The Future of Management - 956 Words

Abstract Management development strategies of many organizations seemed to converge in the nineties. We thought the world would stay on a standstill when the millennium loomed. The new word on the street was Y2K. So what are the concerns for the current state of management development, and what we expect for the future to hold? This paper will tackle such issue. The Future of Management Companies are geared into increase in efficiency and productivity, better choice of goods, more competitive prices, faster execution and better resource allocation. What was true then, will still hold true in the future, except it just may double up. Obviously, ideas like these contributed to the call for far better business management.†¦show more content†¦If they can find a product on-line and save them the trek to the store, they will choose the Internet. Customers are no longer afraid of the World Wide Web. They are actually what you call Internet savvy. Companies, management and leaders need to realize that if they want to stay competitive in today s hard business, they need to enhance their business knowledge of Information Technology. More and more technological innovations are sprouting. If a company stays within its boundary of relic technology, it will not survive. The same goes for the managements and leaders of any organization. The need to shed the old ways of management is a must. For companies to keep employees, the need to embrace effective leadership and good management style. The organizational culture needs to be value driven, empowering employees to have the entrepreneurial spirit. Line managers, top managers and executives need to be able to manage change in a continuous learning environment while creating and maintaining the appropriate working culture. References ZDNet. (2002). Linksys readies fast Wi-Fi alternative. Retrieved February 18, 2003 from the World Wide Web: http://www.80211-news.com/publications/page275- 424191.html. Kirby, D. (2003). Optimizing Call Center Agent Schedules Through Automation. CRM Marketplace. Retrieved March 4, 2003 from the World Wide Web: http://www.crmmarketplace.com/content/news/article.asp?docid={db2c0da5-Show MoreRelatedFuture of Hr Management985 Words   |  4 PagesFuture of HR Management Over the years, the role of human resources has changed and evolved based on the needs of our society. Put in basic terms, human resource management must change as the business environment in which it operates changes. An article written by Susan Heathfield, states that while successful organizations are becoming more adaptable, resilient, quick to change direction, the HR professional is considered by line managers as a strategic partner, an employee sponsor or advocateRead More The Future of Management Essay904 Words   |  4 Pages Abstract Management development strategies of many organizations seemed to converge in the nineties. We thought the world would stay on a standstill when the millennium loomed. The new word on the street was â€Å"Y2K.† So what are the concerns for the current state of management development, and what we expect for the future to hold? This paper will tackle such issue. The Future of Management Companies are geared into increase in efficiency and productivity, better choice of goods, more competitiveRead MoreThe Future Of Project Management1659 Words   |  7 Pages The Future of Project Management Ninderjit Kaur MGMT 391 Embry-riddle Aeronautical University The future of project management Project management is the practice of initiating, planning, executing, and controlling a project to achieve the specific set objectives. The business world of today is speedily increasing and changing. Projects drive business in industries like banking, software development, telecommunication, construction, engineering, manufacturing, architecture, andRead MoreThe Future Of Talent Management902 Words   |  4 Pagesnature of future work and the way work is performed have been ripe, but organisations also must tackle the issue of attracting and retaining talent. We’ve previously looked at the future of talent recruitment, but what about talent management? In this post, we’ll explore what talent management entails and why it’s an important aspect of organisation’s operations. We’ll examine the current situation and the key challenges facing organisations. Finally, we’ll introduce five trends key to the future of talentRead More Future of Management Essay646 Words   |  3 Pages With our economy continuing to sputter, an increasing number of companies both public and private are looking to defend themselves by hiring management executives that have seen hard times before. This new trend may be on to something. nbsp;nbsp;nbsp;nbsp;nbsp;Recently, Sam Brothwell, an analyst with Merrill Lynch, spoke to a group of companies and stated that one of the things that he found with most companies is that there is a little bit more gray hair, which he found comforting in today’sRead MoreThe Future For Sport Management833 Words   |  4 PagesIntroduction The future for sport management in Australia appears prosperous. Over the years, Australia has managed to develop an international reputation for sporting excellence through its national team performances and the expansion of its sports systems (Daly, 1991; ASC, 1998; Shilbury Kellett, 2011). The country has managed to host some of the greatest sporting events, notably the Olympic games, the Rugby World Cup, the Cricket World Cup, with aspirations to bring the Football (soccer) WorldRead MoreThe Future Challenges of Healthcare Management607 Words   |  3 PagesTHE FUTURE CHALLENGES OF HEALTH CARE MANAGEMENT Timan Wainaina Essay March 5, 2016 Health care management denotes the management of clinical information technology andRead MoreManagement And Future Direction Of A Business1072 Words   |  5 Pagesare put to work in making strategic choices for the management and future direction of a business. Goals that companies make are targets or results that managers hope to achieve. Managers must plan out what needs to get done, when it will get done, who will do it and how it will be done. When it comes to plans, there are two basic components: goals and action. â€Å"Formal plans are written documents that capture key strategic objectives for the future direction of the organization as a whole. FunctionalRead MoreThe Future of Human Resource Management1104 Words   |  5 PagesThe future of Human Resource Management 1.) Introduction The field of Human Resource is one of the most challenging and dynamic areas for European managers. â€Å"Human Resource Management is the function within an organization that focuses on recruitment of, management of, and providing direction for the people who work in the organization. Human Resource Management can also be performed by line managers†. Humane Resource professionals can make the difference between success and failure in anRead MoreFuture Challenges for Healthcare Management716 Words   |  3 PagesFuture Challenges for Health Care Management The scope of health care management encompasses administrating how services get delivered to patients, persons delivering services, locations to which services get delivered, and the financing of all involved procedures. In these, institutions like nursing homes, rehabilitation centers, public hospitals, and private clinics get involved. At the same time, groups of service providers and associations play instrumental roles in controlling the quality of

Descriptive Essay About Abagail - 1357 Words

Later that afternoon as I got home from school, I decided to go read under the Secret Tree. So as I made my way through the forest to the tree I noticed someone else there. She was just sitting there under the giant oak tree. She had crimson curly hair and I was absolutely memorized by it. After standing there for a while I decided to approach her. When I got closer she turned and looked up at me. She was stunning. Her face was so kind, but with a certain fierceness to it. She had the most beautiful emerald eyes. And her face had a few freckles and she just looked so amazing. She didn t look to be from around here. Actually, she looked quite foreign and that intrigued me. I must have been staring at her for a while because she finally†¦show more content†¦Please come sit down Abagail.† I sat down on the ground next to this exotic beauty. â€Å"So let’s start off with names. I’m Abagail Roberts. What’s your name?† â€Å"My name is Elizabeth . Elizabeth Conners.† Her name was so simple but yet so soothing. â€Å"That’s a very nice name Elizabeth. Do you mind at all if I call you Lizzie?,† she looked genuinely happy that I gave her a nickname. â€Å"Of course you can call me that. Can I call you Abby as well?† â€Å"Yes Lizzie you can.† I had just made a new friend and I was glad. â€Å"So how old are you Abby?† â€Å"Oh well I’m 16. How old are you?† she was quiet for a bit before answering. â€Å"I’m†¦17,† wow she was older than me but she didn t look it. Lizzie was very small and petite. 5’5 and she couldn t have weighed more than 110 lbs. â€Å"Wow I had no idea you were older than me.† when I turned to look at her she was staring at me with an intensity in her eyes that no one’s ever looked at me with before. She was making me really flustered. I must have started blushing quite a lot because she finally turned away from m e. â€Å"I’m sorry Abby†¦you’re just so adorable and cute I couldn’t help myself.† When she said that I felt my face get even more red. â€Å"Oh no Lizzie, it’s fine. I admit†¦I’ve admired your features a few times. You’re absolutely stunning.† Her face then got as red as her hair and she looked so adorable. â€Å"Oh†¦well†¦thank you very much Abby.† I could feel myself falling in love with her right then. We talked for a bit for the next few weeks and we

The Varieties Of Capitalism The Institutional...

The varieties of capitalism approach, developed by Hall and Soskice in their influential work, ‘Varieties of Capitalism: The Institutional Foundations of Comparative Advantage’ emphasizes the notion that the manner in which firms sort out the coordination problems that they encounter, differs across political economies. They identify five broad realms in which firms must build relationships in order to solve the coordination issues which are vital to their core competencies. These five spheres include industrial relations, corporate governance, inter-firm relations, vocational training and education, and employees. Liberal Market Economies (LMEs) and Coordinated Market Economies (CMEs) can be viewed as the two prototypes representing the two ends of a continuum of national political economies. In LMEs, â€Å"†¦firms coordinate their activities primarily via hierarchies and competitive market arrangements. (†¦) Market relationships are characterized by the arm’s-length exchange of goods or services in a context of competition and formal contracting...† (Hall and Soskice, 2001, p8) On the other hand, in CMEs, â€Å"†¦ firms depend more heavily on non-market relationships to coordinate their endeavours with other actors and to construct their core competencies. These non-market modes of coordination generally entail more extensive relational or incomplete contracting, network monitoring based on the exchange of private information inside networks, and more reliance on collaborative, asShow MoreRelated Varieties of Capitalism Essay2378 Words   |  10 Pageshas become controversial. Various literatures on comparative institutional studies has been developed, in which the Varieties of Capitalism approach by Hall and Soskice (2001) is one of the most significant concepts that is being widely discussed. According to Hall and Thelen (2005), the ‘varieties of capitalism’ is a firm-centered approach where firm is placed as a key actor and is being considered relational. It emphasizes the concept of institutional complementarities, which ‘†¦one set of institutionsRead MoreTo What Extent Are Human Resource Managers in a Multinational Company Restricted by Cultural and Institutional Factors in Implementing Policies and Practices Across Their Subsidiaries? Discuss Your Answer Giving Examples.2128 Words   |  9 Pagesmultinational company restricted by cultural and institutional factors in implementing policies and practices across their subsidiaries? Discuss your answer giving examples.’ In the face of globalization, organisations struggle to develop the human resource management strategy (HRMS) between global integration and local differentiation. This is regarded as a critical concern for multinational enterprises (MNEs) since they suffer from cultural and institutional differences to integrate HRM practices andRead MoreCoordinated Market Economy17621 Words   |  71 PagesMPIfG Discussion Paper 04/5 Varieties of Capitalism and Institutional Complementarities in the Macroeconomy An Empirical Analysis Peter A. Hall and Daniel W. Gingerich Peter A. Hall is Krupp Foundation Professor of European Studies and the Director of the Minda de Gunzburg Center for European Studies at Harvard University. Daniel W. Gingerich is a Graduate Associate of the Weatherhead Center for International Affairs and a Ph. D. candidate in the Department of Government at Harvard UniversityRead MoreSocio-Economic Inequality in South Africa is Due to the Institutionalised Ideological Mismatch Regarding Labour and Economic Policy1665 Words   |  7 Pagespolicy Economic growth is shaped by policy context and promoted most effectively when it is consistent with either liberal market or co-ordinated market ideal type varieties of Capitalism. Policy inconsistency dampers economic growth post-apartheid South Africa attempted to adopt a social-democratic and co-ordinated variety of Capitalism. This failed due to the adoption of macro-economic neo-liberal policies. Organised labour protected labour market policies which lead to policy inconsistencies withRead MoreHuman Resource Management: Convergence and Divergence Dabate in Europe4215 Words   |  17 Pagespeculiarly American (Guest 1990; Brewster 1993; Brewster 1995b). In Europe, organizations are not so autonomous. They exist within a system which constrains (or supports) them, first, at the national level, by culture and by extensive legal and institutional limitations on the nature of the contract of employment, and second, at the organizational level, by patterns of ownership (by the State, by the banking and finance system and by families) which are distinct from those in the USA. It has been arguedRead MoreTwo Tier Corporate Governance Model for Pakistan4548 Words   |  19 Pagesrequirements apply almost exclusively in public companies. In order to cost of compliance, many companies adopted the umbrella privatization. While the costs of application the provisions of SOX are undeniably high, certain provisions do have significant advantages. This advantageous mechanism can be applied by non-corporate companies to provide good organizational governance and reduce the potential for falsified activity. In addition, all enterprises should believe that failure to respond properly todayRead Moreâ€Å"Implicit† and â€Å"Explicit† Csr: a Conceptual Framework for a Comparative Understanding of Corporate Social Responsibility13330 Words   |  54 PagesReview 2008, Vol. 33, No. 2, 404–424. â€Å"IMPLICIT† AND â€Å"EXPLICIT† CSR: A CONCEPTUAL FRAMEWORK FOR A COMPARATIVE UNDERSTANDING OF CORPORATE SOCIAL RESPONSIBILITY DIRK MATTEN York University, Toronto JEREMY MOON University of Nottingham We address the question of how and why corporate social responsibility (CSR) differs among countries and how and why it changes. Applying two schools of thought in institutional theory, we conceptualize, first, the differences between CSR in the United States and Europe andRead MoreComparison of business ethics in different countries.3369 Words   |  14 PagesRussia. 1.Introduction 2.Issues 3.Importance of issues 4.Advantages/disadvantages of the presence or lack of business ethics 5.Safety, ethics, welfare 6.Comparison of ethical business in several countries 7.Conclusion--Which country is the leader of business ethics Three Main Issues: 1.What is the current knowledge and participation of each country of business ethics? 2.How do the countries use business ethics to their advantage? 3.What is the International Code of Ethics? A Code of EthicsRead MorePolitical Risk Management and Insurance: A Contextual Comparison12751 Words   |  51 PagesPolitical Risk Management and Insurance: A Contextual Comparison [Authors Name] [Institutions Name] Abstract This dissertations presents concept of political risk in the context of Efficient Market Theory (Hypothesis) and State capitalism. The paper explores the link between the three ways of insuring political risk to economic theories. Using case study of a multinational firm the political regime and its effect has been explored on business situations and how it can be managed. PoliticalRead More‚Äà ºCompared with the ‚Äà ²Market-Outsider‚Äà ´ Model of Corporate Governance, the ‚Äà ²Relational- Insider‚Äà ´ Model Is Associated with Superior Employment Relations‚Äà ¹. Evaluate This Statement with Reference to at Least Two Countries2270 Words   |  10 Pagesworkers†(Araki, 2005:267). Thirdly, there are fewer investments in skills in countries that follow the ‘market –outsider’ model rather than in the ‘relational- insider’ model, due to the pressure of short-termism. In the ‘market- outsider’ model â€Å"institutional investors want high, short-term returns and that they achieve this mainly via market for corporateâ€Å"(Gospel and Pendleton, 2005: 7). Fear of takeover pressures managers to pursue short-term earnings and discourage long-term investments such as job

John Lewis Free Essays

Good day, everyone. Since you’ve just heard about the plus side, let us now talk about the weakness. Some may find the first few familiar but I’ll mention them again anyway. We will write a custom essay sample on John Lewis or any similar topic only for you Order Now * Firstly, in 2008, a scandal over expenses claimed by Members of Parliament revealed that John Lewis prices were being used as a guide to the maximum costs refundable to MPs when equipping London pieds a terre at a public expense. * Secondly, last year, pre-tax profits fell 3. 8%, to ? 354 million. * Thirdly, the very wet summer in 2012 has affected profits of businesses including retail and the hospitality industry. Besides that, there are a number more that we’ve manage to look up such as how * John Lewis performance slipped over the 2010 Christmas period. While all retailers practically underperformed during this time, John Lewis was the most exposed. At the time of writing, the share price was 361p with the 52-week low of 367p and high of 759p, which means that John Lewis Mamp;S had lost more than 50% of its value during the year (Sunday Times, 2011). * Similarly, the price/earnings ratio of 9. is very low as compared to that of its competitor’s i. e. Mark and Spenser. The price/earnings ratio is the key indicator of investor assurance in a company (Arnold, 2002). * Next, John Lewis has recently started cutting prices to match up the ever increasing competition. This may devalue the brand (The Economist, 2012). * Lastly, The company has been recently criticized for fuelling accusations of poor managerial incompetence, corporate governance and lack of transparency infuriating many large investors (Nugent and Hawkes, 2012). * Thank you. How to cite John Lewis, Papers John Lewis Free Essays {draw:frame} Introduction A chain of Retail stored, based in Great Britain, first opened its store in 1864 in Oxford Street, London. â€Å"Never Unknowingly Unsold† an altogether different concept in the market and offering to the customers holds a promise that the price of the products sold in John Lewis Stores will be the lowest in the neighborhood which even helped John Lewis to establish strongly in the British Market basically more amongst the middle class people. It has also been the motto and the slogan for the company for 76 years, since its establishment. We will write a custom essay sample on John Lewis or any similar topic only for you Order Now A partner of John Lewis Partnership which even includes other stores like Waitrose, Greenbee. Every Employee who works at John Lewis is a partner in the company and is entitled to receive bonus out of the profits company earns yearly. With Currently 29 stores Countrywide(28 John Lewis Retail stores and 1 John Lewis at home store) 8 more stores are yet to come in next 5 years in the UK, one of them at the Olympic Site in Stratford, London. Several stores are also in the category of listed buildings because of the architectural designing, one of them being the flagship store at Oxford street, London John Lewis Opened its largest store outside London in Wales on 24th September’2009 in Cardiff. With the efforts and the determination of the partners serving the customers with High Quality Goods and the best shopping experience, John Lewis has been able to reach the status of the Largest Retailer in the country. Stores in Reading and Berkshire were also awarded with Royal Warrant by Queen on 1st January’2007 for being a supplier of household and fancy products. John Lewis opened its first store as a small drapery shop at Oxford Street in 1864. John Lewis buys the control of Peter Jones in 1905 It was year 1918 when the first edition of Gazette was published, magazine by John Spedan Lewis. In 1920 John Spedan Lewis, Son of John Lewis incorporates John Lewis Partnership, which today has several companies including John Lewis, Waitrose( a chain of supermarkets offering food products) and Greenbee( offers Direct Services like Insurance etc) In 1933 John Lewis buys Jessops, well established store in Nottingham. First store outside London. In 1940 John Lewis also took over Selfridges Provincial stores. With the era of internet and connecting with world via internet, John Lewis launches its website in year 2001 allowing customers to shop online and getting products delivered at their door. Jessops rebrands itself as John Lewis in year 2002 Store in Caley shut its door for public in July 2006 John Lewis enters home Products too, opens up John Lewis at home shop in Poole, Dorset in year 2009,providng customers with wide range of products like Pillows, Duvets, Quilts. Attains the status of Largest Department Store Retailer in Goals and Objectives Goals and Objectives are important business terms, the two aspects which help a company to become what it wants to. Usually Goals and objectives are inter changed against each other, but practically they have really wide difference. Goal refers to what you aim to become, whereas objectives are the ways or steps to achieve those goals. John Lewis takes the competition to a new level to be UK’s favorite retailer, from its Never knowingly undersold tagline to providing best customer service to conducting their business relations with integrity helps them to be UK’s favorite retail house . Make sufficient profits from the operations to sustain commercial vitality. John Lewis does business with utmost care and low cost but never leaves quality, it has and will always maintain quality of its products, but the products are available at low and reasonable costs that the profits are high plus within the reach of middle class people, thus making it more famous and established amongst middle class of UK. Employee Satisfaction Every employee who works in John Lewis is a partner in the business. The profit is shared amongst the partners named as bonus, which motivates the employees to work harder being more focused and determined. An Individual’s brilliance, determination and zeal to work which showers fruitful results are rewarded separately. Customer Satisfaction John Lewis recruits only those people who know how to work with integrity, determination while abiding by the principles laid down, which helps John Lewis to provide customers with a different and homely shopping experience in their stores. The prices, quality and value of the goods is different from the other stores in the surroundings which helps in attracting more and more customers to their stores thus building a strong customer base and bond and even a brand image and goodwill for itself Strategic Planning Strategic planning is an integral process of an organization defining its strategies and direction and making decisions to allocate available resources to peruse laid strategies, which provides the organizations which a competitive edge over their competitors. Strategies formulated by John Lewis top level management are basically targeting at 3 core goals, they being:- Personal Satisfaction of the Employees Strong customer base, brand value and goodwill. Sufficient Profits yearly. Strategic planning included SWOT analysis, analysis done to analyze internal environment of the organization and to bring it at par with the external environment. SWOT stands for Strength It also includes PEST analysis which is done to examine the external factors affecting the business and how change in them will affect the business, which helps the organizations to be better prepared for those circumstances, PEST stands for Political SWOT ANALYSIS OF JOHN LEWIS Strengths John Lewis has a strong customer base, a brand image and goodwill which helped in becoming the UK’s favorite retailer leaving behind its competitors like Debenhams, Marks and Spencer’s etc, which itself is strength of John Lewis. Each and every employee who works in John Lewis is a partner, be it a part time employee or a full time which entitles them to have share in profit. Bonus is given to the employees at the end of FY out of the profit it earns, which motivates them to work hard and achieve targets set for them which helps the organization inturn. It seems that John Lewis has placed itself well on the environmental and green issues too. For eg:-The fair trade policy it follows with the producers the products in Africa. This helps in making themselves a positive brand in the eyes of customers and environmental activists. Being a part of John Lewis Partnership it is under the scanner of extremely experienced management team of John Lewis Plc and of its own. Weakness Unlike the expansion policy TESCO follows, John Lewis serves only the UK market thus restricting itself to UK customers. If a problem arises in food retailing sector, it will be difficult for John Lewis to cope up. Lack of flexibility for the employees. Opportunities Increasing online sales can be an opportunity because the company will get good returns as the website related cost is nothing as compared to online sales cost. The new store coming up at Olympic site in Stratford will cater to the Olympic fans, as John Lewis is the official sponsor to Olympic games and the official license holder to sale Olympic merchandize John Lewis will open its store in Dublin, which will help them to reach customers in Ireland thus expanding the business. Threats Customers might respond to new brand, John Lewis, in the country in a different manner from UK, even because of John lewis being a British brand. Various other small brands whose price cap matches with that of John Lewis can be a threat. Flexibility lacking in the working can be a threat to John Lewis, as the GREENBLOODED nature of the management at times can make employees frustrated. PEST ANALYSIS Political Factors Globalization, can prove to be a challenge plus an opportunity for John Lewis. Challenge as it will have to compete with Retail stores from round the globe who would even be providing the customers with better services and products better than John Lewis. Globalization can prove to be an opportunity as it will allow establishing themselves anywhere round the globe. Government taxation policy can reduce or increase the profit margin on products and services. -For example:- If the Corporation tax increases to let say 30% from 20% then John Lewis will have to pay more of taxes which will inturn decrease the profit Economic Factors, If the credit availment terms in the country are flexible, then availing credit will get easier from financial institutions which will help John Lewis to expand and grow even more. Along with economic conditions, bank policies play an important role in affecting the purchasing power of the consumers, better and flexible the bank policy and economic scenario healthy, purchasing power increases which in turn will increase sales of John Lewis, which will increase the profit percentage. With more and more competition in every segment from competitors like Debenhams, Marks and Spencer’s John Lewis management keeps on coming up with different types of marketing techniques , giving more and more of incentive to the customers; affecting prices , resulting in the less profit. Social Analysis. Things have changed a lot from the previous times, people don’t like standing in the queues, they prefer buying stuff online and getting the delivery at home. People even prefer billing themselves via self billing kiosks. Today to become more successful and profitable innovation and proper marketing has become the key. Consumers in the market have become aware about the Global climate problems; they are inclined towards companies who keep a check on carbon foot print are Green in there working in every aspect. Technological Analysis RFID (Radio Frequency Identification Device) technology can be used for significant benefits to the supply chain of Sainsbury’s. If adopted, this technology will lead to fewer inventories for the supermarket firms leading to a leaner, more profitable organization. Stores shall be technological advanced, usage of best quality Tills, ePOS systems ,ERP systems for managing the company in an effective and efficient manner. Conclusion How to cite John Lewis, Papers

Managerial Decision Making Action Making Process

Question: Describe about the Managerial Decision Making of Action Making Process. Answer: Introduction: Managerial decision making is the process of selection by an authoritative person from various sets of alternatives, outputs or ideas, and taking suitable action. The 'action making' process consists of four steps, which are, identifying the problem, generating solutions for the problem, analyzing and choosing among the available solutions, monitoring the selected solution. The managerial decision making process revolves around four tasks, which are, planning, organization, leading and controlling. It centers on the problems like Crisis, Non-crisis, and Opportunity problems. The crisis problem refers to the serious challenges which require immediate attention (Bauer et al. 2013). A non-crisis problem claims resolution but does not have the immediacy components of a crisis. Opportunity problems are related to those circumstances which offer a strong potential for important organizational gain if proper actions are taken. The decision making process is divided into two ways, programmed and non-programmed (Tengblad 2012). Programmed decisions are taken under planned decision rules, and non-programmed decision making happens when the circumstance is comparatively ill-structured. The organization and its problem: The organization chosen here is Woolworths Limited. It is a major Australian company, having a massive share in Australia and New Zealand's retail markets. After Wesfarmers, which is a Peru-based retail focused conglomerate, Woolworths is the second largest company in both Australia and New Zealand, by revenue. It had opened its first store in Sydney in the year 1924. In the year 1985 Woolworths took over 126 Safeway stores in Eastern Australia. It made the organization the largest food retailer in the country. Since then, the organization spread its branches all over Australia, New Zealand, and now introduced its stores in India. The primary services by the organization include supermarkets under the organization's brand, liquor retailing, hotels and pubs, and discount departments. It is a public firm, with most of its shares distributed among the citizens of Australia (Arli 2013). The organization is facing some serious problems currently like a damaged public image and loss in revenue due to the lack of foreseeing, in the market demand scenario. It has triggered a chain of other issues like firing employees and incurring losses in both monetary terms and human resource. The organization is already looking for answers and taking measures to get out of this situation. The managerial decision making is playing a huge role in this situation. The authorities are addressing the problems at a time. As the problems are inter related, it is expected that solving the primary problem will have a trickledown effect on the other disturbed scenarios of the company. Although this process is time consuming, the authorities have seeing the urgency the situation demands. If the organization takes too much time in clearing these back logs, the future holds more thorny ways for it (Guerrero 2013). Problem definition: list of the symptoms: The organization is facing problems followed by the milk crisis in Australia. These problems came through a series of international choices made by the governments while facing some international difficulties. Australia has a large exporting milk industry. One of the major importing countries of the milk products sold by Australia was Russia. The sudden change of plans in international scenario led to a series of crisis in the domestic market of Australia affecting the organization, as it was operating in the local market at a large scale. Russia in August of 2014 announced a full trade embargo on agricultural imports. It includes dairy products as well. The reason behind this decision was related to the sanctions referred to the Ukraine conflict. It had a large impact on Australia's export market. Before the ban, Australia exported more than 600,000 tons of dairy products to Russia. This caused a series of problematic symptoms of oversupply in the domestic market, making the price o f milk products sold by the Woolworth go down by a huge margin (Lawrence Richards and Lyons 2013). This situation, in turn, took effect on the farmers operating in the domestic market (Buonanno and Nugent 2013). The company came in a war with the local farmers to survive in the market by slashing its prices. It caused damage to the Woolworths Limiteds public image. The oversupply of milk got worsened by the major decision taken by European Union in the form of removed Quota on milk production (Beetham and Lord 2014). This made the market faced by Woolworths more competitive. The issue the organization is facing thus is pointed towards the forecasting department of Woolworths (Besley et al. 2013). Solution generation: Woolworths now can address these issues both externally and internally. Externally, the higher authorities of the organization can approach the Government of Australia to create a price floor for the dairy products, under which there will be no selling of those products. This will save both the organization and the local farmers, who are in grave danger due to this crisis. Internally the firm has to build a stronger forecasting group which will act faster when crises like this appears. To get this strong forecasting group, the organization has to change its hiring policy. More personnel from economics background with sufficient experience are needed to fill up the gaps in the forecasting group. They will understand the international as well as the domestic relations faster, giving the firm ample time to rethink its strategies and address the customers. Moreover, a damaged public image has a negative correlation with the demand a firm faces in the market. Therefore, new personnel for public relation are also needed in the Human Resource department, who can handle the pressure that had built up in the market. A new market research team has to be appointed as soon as possible to evaluate the situation properly and get the data needed to make improvements in this situation (Moore 2015). The new research team, along with the old ones has to be linked with the forecasting group to assure better results. The research and development team of the firm should look for other opportunities to use the oversupply of milk. New dairy products hitting the market will clear up more inventories of the firm, keeping the market imbalances at a new equilibrium. The Woolworths workers who were employed in exporting dairy products is facing hug challenges in keeping their job in the company. The organization must look for other positions within the company to absorb these people and engage them in a productive market system (Gouran 2015). Solution evaluation: The forecasting team will give support to the production houses in understanding present and future market demand, as the production process and the revenue related to it depends on them significantly. The hiring team should keep in mind the opportunity of engaging efficient personnel in all the fields of production in the organization. More efficient worker will produce more effective results in the retail market as well as in other scenarios where public image plays a vital part. The research team will help the forecasting team and the team handling the companys public image. Data collected by the market research team along with the forecasters utility will tell the organization what to produce, how much to produce and to what quantity (Png 2013). This new research team can also extend its support to the research and development team as well. The excess supply of milk can be converted into many other products. The both these teams together can find out the market demand for the new products the domestic and international market holds. The company can share this information with the local farmers for betterment of the supply sources outside the companys raw material supplier circle. This will help the organization as well as the farmers. It will, in turn, improve the public image of the company. The employees who were previously engaged in the export of the dairy products in Europe and Russia have to be employed in a productive process of the company. This will save their jobs as well as reduce the cost of future employee searching operation. By hoarding these skilled workers the company will gain a competitive edge against the rival firms. The external solution needs the higher authorities to take the initiative (Matthews 2013). The government policy makers are looking for answers to solve the present milk crises problem. A price floor will save the farmers who are still fighting in the market for survival. This process will directly and indirectly help the o rganization to increase its revenue in the near future (Fletcher 2013). Implementation and action plan: The proposal for price floor to the government hast to be given by the authorities as soon as possible. The matter has urgency due to the large set of population involved in the primary sector of the country. Thus, hiring professionals has to be started immediately. Along with the new faces joining in Woolworths the market research will hit the system (Berglund and Sandstrm 2013). It will reveal the efficient paths of production for the organization. In the mean time, during the first month the workers who were working in the exporting area of the company will be moving to other productive sources. The whole process of workers mobility process should be done by the end of the seventh month. This way the company will achieve efficient allocation of resources. The forecasting team will start working from the 5th month with the help of the market research team to assess the future possibilities as well as find solutions for the present situations. The following table shows the action pl an for next 10 months. Sl no. List of actions 1st and 2nd weeks 1st and 2nd months 3rd and 4th months 5th, 6th and 7th months 8th month 9th and 10th months 1 Price floor proposal 2 Hiring new personnel 3 Market Research 4 Forecasting by the team 5 Worker mobility 6 Product innovation Table 1. Action plan for the managers of Woolworths. Source: As created by the author. The table above shows the six plans which are available for the next ten months to the organization. The total time needed by the company to run the whole process is 10 months. The actions on price floor proposal to the government and the new personnel hiring policy should be taken at first. The next policies will be moving smoothly through the planned path. The whole recovery of the organization and the local farmers are depending on the following 10 months. If everything goes according to the plan, the eighth month will be the ideal month for the research and development team to start the innovation process (Clampitt 2012). The knowledge acquired by the market research team will be helpful in this process. The innovation process will help the company to survive through the coming tough times and stay ahead of the competitors. The innovations will absorb the excess supply by the local farmers (Johansson and Fransson 2012). Absorbing the products of the local farmers will help the fa rmers as well. The manager and the authorities have to keep their eyes on the whole process throughout these 10 months to yield the optimal outputs. Conclusion: Woolworths Limited along with other retailers and local farmers is facing a downfall in the domestic and international market of dairy products. The government has to be included in order to come out this trapping situation. The organization can play a vital role in this process by being the first mover. The internal strategies are needed to help the company survive through this tough time. The organization can take the above mentioned plans to keep the company afloat. Price floor proposal, Hiring new personnel, Market Research, Forecasting and Worker mobility are the only current available options for the organization to keep a floating production process and a healthy public image. The product innovation is recommended to stay ahead of the competitors both in present and in future. The Human Resource department of the organization is going to play a crucial role in the coming days, as the process of hiring efficient personnel will keep going for next 10 months. The market research team also has an important place in the planning. The mobility of workers has to be done by the end of the seventh month of the planned period, which gives a small time period to the production process to absorb the new system. References: Arli, V., Dylke, S., Burgess, R., Campus, R. and Soldo, E., 2013. Woolworths Australia and Walmart US: Best practices in supply chain collaboration. Journal of Economics, Business, and Accountancy| Ventura, 16(1), pp.27-46. Bauer, J.C., Schmitt, P., Morwitz, V.G. and Winer, R.S., 2013. Managerial decision making in customer management: adaptive, fast and frugal?. Journal of the Academy of Marketing Science, 41(4), pp.436-455. Beetham, D. and Lord, C., 2014. Legitimacy and the European Union. Routledge. Berglund, H. and Sandstrm, C., 2013. Business model innovation from an open systems perspective: structural challenges and managerial solutions. International Journal of Product Development, 18(3-4), pp.274-285. Besley, S., Bringham, E.F., Henry, D. and Watanabe, T., 2013. Corporate finance: the essentials, Asia-Pacific edition. Cengage Learning Australia. Buonanno, L. and Nugent, N., 2013. Policies and policy processes of the European Union. Palgrave macmillan. Clampitt, P.G., 2012. Communicating for Managerial Effectiveness: Problems| Strategies| Solutions. Sage Publications. Fletcher, R., 2013. Practical methods of optimization. John Wiley Sons. Gouran, D.S., 2015. ECONOMIC RATIONALITY, TWENTY-FIRST CENTURY STYLE. Disturbing Argument, p.19. Guerrero, E.G., 2013. Managerial challenges and strategic solutions to implementing organizational change in substance abuse treatment for Latinos. Administration in Social Work, 37(3), pp.286-296. Johansson, M. and Fransson, T., 2012. What distinguish managerial behaviour in small service companies?. Lawrence, G., Richards, C. and Lyons, K., 2013. Food security in Australia in an era of neoliberalism, productivism and climate change. Journal of Rural Studies, 29, pp.30-39. Matthews, J., 2013. Design Thinking and Management Education: Benefits for Problem Framing and Problem Solving. In Proceedings of the 27th Australian and New Zealand Academy of Management Conference: Managing from the Edge. ANZAM. Moore, S.J., Madin, B., Norman, G. and Perkins, N.R., 2015. Risk factors for mortality in cattle during live export from Australia by sea. Australian veterinary journal, 93(10), pp.339-348. Png, I., 2013. Managerial economics. Routledge. Tengblad, S., 2012. The work of managers: Towards a practice theory of management. Oxford University Press.

Journal Of Business And Management Studies - Myassignmenthelp.Com

Question: Discuss about the Journal Of Business And Management Studies. Answer: Introduction Every organization wants to increase its productivity and manage the time and resources taken by each activity. Nestle Company is one of them who always want to improve its productivity and profit. Nestle is known as the largest company of food and beverages and a well-known brand recognized across the world. This report is going to be prepared in order to identify whether the Time-Driven Activity-Based Costing (TDABC) will be suitable for the process and function of the business. The report will provide the brief description of the Nestle Company along with the model of Time-Driven Activity-Based Costing (TDABC) and its features. Further, the report will differentiate between the Activity-based Costing (ABC), Traditional Costing, and Time-Driven Activity-based Costing (TDABC). Company Profile Nestle is an international company dealing in the sector of food and beverages. Headquarter of the company is in Vevey, Switzerland. It is known as the worlds biggest company of food, evaluated by metrics and revenues, since 2014. In 2014, the company was ranked on No. 72 by the Fortune Global 500 and in 2016; it was ranked on No. 33 in the Forbes Global 2000 which involve the list of biggest companies. The product line of Nestle includes breakfast cereals, Maggie, baby food, tea and coffee, medical food, ice cream, confectionery, bottled water, snacks, pet foods, dairy products and frozen food (Nestle, 2018). Twenty-nine brands of Nestle have yearly sales over CHF1 billion, comprising Nesquik, Maggie, Nespresso, Vittel, Nescafe, Stouffers, and Kit Kat. Company operates in 194 countries with 447 factories, and 330,000 employees. Nestle company is the major shareholder of worlds biggest company of cosmetics i.e. LOreal. Purpose of Nestle The purpose of Nestle is improving the life's quality and contributing to a better and improved future. They want to contribute in shaping a healthier and better world by encouraging society to have better and healthier lives. This is their way to contribute to society and fulfill their corporate social responsibilities and confirming the success of the company for long-term (Nestle, 2018). Values of Nestle The values of Nestle are imitated by their way of pursuing business; they always follow and respect the rules and regulation implemented by the government. They always give equal respect to the people with whom they work. Strategy of Nestle In today's scenario nutrition act as an important aspect of everyone's life. The strategy of the Nestle Company is focused towards delivering various benefits to every individual through the products and services they offer. The company is working hard from last 150 years and now they have succeeded in attaining the top position by anticipating and understanding the society needs, and constantly familiarizing themselves to grab the presented opportunities (Nestle, 2018). The fast-changing expectations and needs of the society reconfirm the strength of our wellness, health and nutrition strategy. The world is at the point of change. The rapidity, strength and the range of change are extraordinary. The digital disturbance is redesigning the whole industry, relations with the companys retailers and suppliers, and customers. Technology and science developments are providing opportunities to the Nestle Company in order to play a major role in considering the challenges faced by the society. In the world there are millions of people who do not receive proper nutrition, it the duty of Nestle Company to help them and provide proper solutions (Nestle, 2012). Strategic Roadmap Of Nestle Source [https://www.nestle.com/aboutus/strategy] Time-Driven Activity-Based Costing (TDABC) The Time-Driven Activity-based Costing (TDABC) method is a new technique which is introduced for overcoming the problem with Activity-based Costing. Activity-based Costing (ABC) has supported many organizations in recognizing necessary opportunities of profit and cost enhancements by re-presenting the loss-making customer relationships, procedure developments on the shop floor, less cost of the design of the product, and modernized product diversity (Ayvaz and Pehlivanli, 2011). The method provides probable large scale opportunities for the companies. Luckily, the explanation is now conceivable by a method which is named as time-driven activity-based costing (TDABC). This method has helped many companies who have implemented this method in their system. In this new method, management of the company can directly evaluate the demand of the resources obligatory by every activity, deal, service, product or transaction rather than first allocating the cost of the resource to the activities and then to customers or products (Basuki, 2014). For every resources group, estimation is required only for two parameters: per unit cost of delivering capacity of resources and the unit time consumption of capacity of resources by customers, products, and services. At the same time, the Time-Driven Activity-based costing or (Time-Driven ABC) offers precise rates of cost-driver by permitting unit times to be projected even for multifaceted, particular dealings (Kaplan and Amderson, 2007). Assessing the per time unit cost of capacity- As an alternative to measure the time spent by the employees, for this the managers will firstly identify the practical capacity of the supplied resources as a percentage of hypothetical capacity. There are numerous ways to identify this. According to the thumb rule, it can be easily assumed that applied capacity is 80 to 85% of hypothetical full capacity. Therefore, if a machine or employee is ready to do the job of 40 hours for per week, then its applied capacity for per week is 32 to 35 hours. Accessing the unit time of events- After calculating the per time unit cost of delivering assets to the activities of the business; managers then determine the time consumed by a unit of each activity. These figures can be attained by direct observation or by employees interviews. There is no requirement of the surveys, even though employees survey might help in big organizations. It is necessary to strain, however, the matter is not the time spend by employee completing an activity but the time taken to finish one unit of particular activity. Once, again accuracy is not dangerous; bumpy accuracy is enough (Kaplan and Anderson, 2007). Driving the rates of the cost drivers- The rates of the cost-driver can be computed by multiplying the variables i.e. two input variables, it is just has been projected. Examining and reporting costs- The managers of the company are permitted by the time-driven activity-based costing that their cost can be reported on a continuing base in a mode that discloses the activitys cost and time spent on those activities. Updating the model- The Time-driven activity-based costing (TDABC) method can be updated by the managers of the company to show variations in operating circumstances. In order to add more activities in a department, there is no need for personnel interview, they can just guess the required unit time for every activity. The rates of the cost-drivers can also be updated by the managers. Time Equation to Capture Complication It has been assumed simply that every order or transaction of a specific type are similar and need the same time duration to process. But Time-Driven Activity-Based Costing doesnt ask for this explanation. It can accommodate the difficulty of real-world processes by integrating time equations, a different and attracting characteristics that allows the method to imitate how order and action characteristic which affects the time of processing (Kaplan and Anderson, 2006). Time equation highly simplifies the assessing procedure and creates a far more precise cost model which will make the possibility of consuming traditional ABC techniques. The key point is that the transaction can simply become complex, management of the company can normally recognize how they are becoming complicated. The variable elements that influence most of the activities can frequently state and classically record in the information system of a company. Features of Time-Driven Activity-Based Costing (TDABC) Time-Driven Activity-based Costing (TDABC) is less expensive and can be easily installed in the functioning of the business and can also be maintained properly. There is no need to make additional expenses in this method. Multiple time driver methods are implemented in this new method which will hold the complexity of the Nestle Company in an improved way. With the support of Time-Driven Activity-based costing the costing process becomes simple because it supports the organizations management in eliminating events like interviews and survey and use applicable and significant information. Organizations can enhance their system of cost management by explaining their process capacity and application of cost and effectiveness of the orders, customers or products. Time-Driven Activity-based Costing method is different because it uses time equation in which the consumption of time is evaluated on each activity. This new approach identifies the opportunities for the competencies of the process and supervision of capacity. Time-Driven Activity-based Costing (TDABC) method is an exact and profit making method because it is fast and simple to construct. Difference between Time-Driven Activity-Based Costing (TDABC) and Activity-Based Costing (ABC) Time-Driven Activity-based Costing (TDABC) Activity-based Costing (ABC) A method which simplifies the process of costing by removing the employees survey and interview needs for assigning the activities with resources cost is known as Time-Driven Activity-based Costing (TDABC). Activity-based costing or Traditional ABC is considered as a methodology which recognizes the activities of an organization and allocates the cost to every activity along with the resources to every service and product as per the genuine consumption by each (Johnson, 2018). Under the time-driven activity-based costing (TDABC) the maximum priority is given to the time driver for assigning a cost to every services and product (Hooze and Hansen, 2014). Under Activity-based costing (ABC) maximum priority is given to cost drivers for assigning a cost to every product and service (zyrek and Din, 2014). Difference between Time-Driven Activity-Based Costing (TDABC) and Traditional Costing Time-Driven Activity-based Costing (TDABC) Traditional Costing The method which assists in identifying the capacity of each department and allocates the cost of the capacity of integrated resources over the cost object maintained on the required time element in order to start an activity is known as Time-Driven Activity-based Costing (TDABC). The assigning of production overhead to services or products depending on the volume metric like production machine hours or direct labor hours is known as Traditional Costing (Accounting Coach, 2018). The Time-Driven Activity-based Costing (TDABC) method is very capacity sensitive and evaluates the activitys standard cost with the support of standard rates. The traditional costing method allocates indirect cost provisional to the volume. It results in products cost overvaluation with high volume; on the other side services or products become underrated which are of less volume (Houghton Mifflin Harcourt, 2016). The new approach is cost saving as it does not involve more cost in its installation and implementation, along with this it includes all different features of a particular activity. Traditional costing method takes other cost drivers into account that might be able to increase the cost of the item (Wilkinson, 2013). Reason for why Time-Driven Activity-Based Costing is suitable for Nestle Company The Nestle Company involves various departments in its function of the business who implement various procedures and activities for appreciating the productivity and growth of the business. This new approach is created for this type of organization so that the management can handle every activity and function. Time-Driven Activity-based Costing (TDABC) is cost saving and easy to implement. Therefore, this method will not disturb the budget of Nestle Company. This method is an improved version of Traditional Activity-based Costing and it supports company in guessing the basis demand of every single customer, product and procedure with the support of necessary time to attain the events and the cost unit time capacity. Conclusion In the conclusion, it can be suggested that Time-driven Activity-based Costing (TDABC) is an effective technique or method which estimates the time and cost of the activities implemented in an organization. This new approach is suitable and appropriate for Nestle Company because it will help them in increasing their businesss productivity. Along with this it is an inexpensive method and can be easily installed. As Nestle is the leading company in the sector of food and beverages, therefore, it is important for the company to have an improved and enhanced costing system. The above report has explained in detail about the model of Time-Driven Activity-based Costing and its features along with the brief description of the Nestle Company. The report has also identified some dissimilarity between the Time-Driven Activity-based Costing (TDABC) and Activity-based Costing (ABC) and the differences between Time-Driven Activity-based Costing (TDABC) and Traditional Costing. References Accounting Coach, 2018, Traditional costing definition, Accessed on: 12 January 2018, Accessed from: https://www.accountingcoach.com/terms/T/traditional-costing Ayvaz, E., and Pehlivanli, D., 2011, The Use of Time Driven Activity Based Costing and Analytic Hierarchy Process Method in the Balanced Scorecard Implementation, International Journal of Business and Management, 6(3), pp. 146-158. Basuki, B., 2014, The Application of Time-Driven Activity-Based Costing In the Hospitality Industry: An Exploratory Case Study, JAMAR, 12(1), 27-42. Hooze, S., and Hansen, S.C., 2014, A Comparison of Activity-based Costing and Time-driven Activity-based Costing, Accessed on: 12 January 2018, Accessed from: https://calhoun.nps.edu/bitstream/handle/10945/47751/Hansen-A-Comparison_2014-08.pdf?sequence=1 Houghton Mifflin Harcourt, 2016, Activity-Based vs Traditional Costing, Accessed on: 12 January 2018, Accessed from: https://www.cliffsnotes.com/study-guides/accounting/accounting-principles-ii/activity-based-costing/activity-based-vs-traditional-costing Johnson, R., 2018, Traditional Costing Vs. Activity-Based Costing, Accessed on: 12 January 2018, Accessed from: https://smallbusiness.chron.com/traditional-costing-vs-activitybased-costing-33724.html Kaplan, R.S., and Amderson, S.R., 2007, Time-driven activity-based costing, Accessed on: 12 January 2018, Accessed from: https://fenix.tecnico.ulisboa.pt/downloadFile/3779580640677/HBR-Time-Driven%20Activity-Based%20Costing.pdf Kaplan, R.S., and Anderson, S.R., 2006, Time-Driven Activity-Based Costing, Accessed on: 12 January 2018, Accessed from: https://hbswk.hbs.edu/item/time-driven-activity-based-costing Kaplan, R.S., and Anderson, S.R., 2007, Time-driven activity-based costing, US, Harvard Business School Press. Nestle, 2012, Nestl in society, Accessed on: 12 January 2018, Accessed from: https://www.nestle.com/asset-library/documents/library/documents/corporate_social_responsibility/nestle-csv-full-report-2012-en.pdf Nestle, 2018, About the product, Accessed on: 12 January 2018, Accessed from: https://www.nestle.in/brands/mpn/ceregrow/about-the-product Nestle, 2018, About us, Accessed on: 12 January 2018, Accessed from: https://www.nestle.com/aboutus Nestle, 2018, Strategy, Accessed on: 12 January 2018, Accessed from: https://www.nestle.com/aboutus/strategy zyrek, H., and Din, Y., 2014, Time-driven activity based costing, International Journal Of Business And Management Studies, 6(1), pp. 97-117. Wilkinson, J., 2013, Activity-based Costing (ABC) vs Traditional Costing, Accessed on: 12 January 2018, Accessed from: https://strategiccfo.com/activity-based-costing-abc-vs-traditional-costing/