Intro To Business Management Exam Assignment Example | Topics and Well Written Essays - 1000 words

Intro To Business Management Exam - Assignment Example Also, a lot of opportunities emerge in the recession or in the times of economic depression. The opportunities revolve around sale of existing businesses at considerably lower rates which makes them easy to be acquired. Also, various physical asset, which are considered highly important for a startup venture are available at relatively cheap prices and high rate of discounts (Gordon, p. xiii). Also, during various recessionary times as well as in the times of economic boom, government funding agencies, venture capitalists and private lenders share a bias to promote various entrepreneurship ventures which have the ability to promote radical or incremental innovation in its product or service offerings, thereby generating and adding value to the clients and customers. Hence while proposing an entrepreneurship venture for the purpose of funding; the focus will be on the innovativeness of the product offering as well as the amount of value that can be generated for the target audience. T he main focus of the presentation will be the unique selling proposition of the offering. The conversation will rotate around the factors of minimum initial investment, the demand forecasting, estimated sales forecast, the breakeven period, and the intended targeted market share. The cash flow cycle for the new venture will also be brought into highlight in this case. 2. Ethics in the workplace is a very important factor in the case of a new startup manufacturing firm. The following ethical practices should be practiced in the firm (Trevino & Nelson, p. 219): Worker Safety High priority will be given at all times to ensure safety of the consumers at the work place. Product Quality The employees of the company should comply and cooperate with the stringent processes and measures regarding quality check that have to be followed at all times in order to produce high quality products. Labor Relations The workers have to follow the various rules and regulations that are laid down by the company management in order to address the issues related to labor relations. The workers are to be informed that the management follows an open door policy for the purpose of addressing the problems of the employees. Intolerance to Harassment The company does not tolerate any harassment or discrimination on the basis of age, gender, beliefs, and religions. The company also has stringent policies to address issues related to harassment on the basis of racism. Corruption The company has strict policies including the ultimate termination of the service contract in order to deal with corrupt practices at the workplace, that are practiced by the employees on a individual or a collective manner either within or with people outside the physical boundaries of the organization. 3. The process of business planning is a very important factor in the part of designing a strategy as it helps in smooth running of the business operations in the long term. It ensures the fact that the company is mo ving ahead with proper goals while having proper synchronization of the business processes with regards to the current market conditions (Reading, p.7). The business planning helps in determining the future goals of the company. This helps in identifying the amount of resources that is required in the production processes in order to produce the desired amount of inventory that is necessary to meet the forecasted demanded.

Psychology Essay Example | Topics and Well Written Essays - 500 words - 2

Psychology - Essay Example They used many processed foods, which are high in calories and high in fat content (Mela, 2005). In addition, the accessibility and cheap prices of being able to buy these kinds of foods especially targets the middle and lower socioeconomic classes. This in turn can be related to the psychological component of stress and coping. Stress is when a person’s perceived demands outweigh their perceived coping resources. The way in which a person deals with the stress is referred to as coping, which can be split into maladaptive and adaptive coping strategies. Overeating and eating unhealthily are maladaptive ways of coping with stress. This can be induced by a wide variety of social and environmental factors. This overeating can lead to a variety of self-esteem issues and clinical disorders (Brannon, & Feist, 2010). Self-esteem is the appraisal of one’s self-worth. This is extremely important in the way in which an individual functions in society. In a society where perfectio n is a must, those that fall outside the norm, such as in weight, are often looked down upon in society. Increased advertising in weight loss programs and exercise programs adds to the stress of being overweight.

Role Of The Line Manager

Role Of The Line Manager Introduction The essay topic I have chosen is â€Å"the role of the line manager as a facilitator of HRD†. The reasons behind my choice are as a result of my experience of working with Citigroup on my INTRA placement. I gained first hand experience of the efforts made by, and at times the shortfalls of my line manager when she was interacting with my fellow employees and I. I discovered that the line manager can have a profound influence on the attitudes towards work held by their subordinates, and this can affect the level and degree of learning which takes place within the work environment. I found that poor management of the facilitation of HRD training was detrimental to both my fellow employees development, general level of contentment and satisfaction within the workplace and their overall productivity within their roles. My essay will first deal with the responsibilties of the line manager in facilitating HRD. Subsequently, it will deal with the methods by which HRD can be implemented by line managers. It will also address the implications of greater line manager involvement in HRD. My aim is to provide a deeper understanding of the managerial processes that managers can employ to facilitate knowledge integration and transfer to their co-workers. Main Body A line manager can be defined as a ‘management figure who is authorized to direct the work of subordinates and is responsible for accomplishing organizational goals. (Dessler, G, 2000). A line manager is traditionally held accountable for ensuring that results are satisfactory and enabling the achievement of goals through the employees who report to them. In recent years, the expectations of the line managers role have changed. Line managers are increasingly entrusted with human resource development, and in some instances are held accountable for any shortfalls in adheering to this new responsibility. It can prove difficult for line managers to take on the additional responsibility due to existing workloads, lack of skills and inexperience of fulfilling such a role. Line managers, rather than HRD specialists, are very familiar with the business context of both organizational and individual learning needs. They are closer to the daily operations and customers. This gives line managers a unique knowledge advantage concerning organisational realities and needs, which can aid their understanding of issues arising in the daily context of work, and knowledge gaps among the workforce. There has been a move towards line managers assuming roles with a developmental focus and undertaking positions as facilitators of learning and skill expansion. This move is a part of the recent trend of empowering employees at all levels in an organisation to expand their knowledge base and responsibilities to ensure that a variety of multiskilled employees are on hand to tackle any situation that the business may be able to direct them at. xxxxxxxxxxxxxxx In order to be equipped to tackle a role in HRD, substantial investments in capacity and skill development of line managers is necessary to ensure that they are equipped to carry out their new responsibilities. Ultimately, the development and performance of a business workforce is substantially influenced by the management they operate under. Investing the necessary time, money and effort into this area is critical for the effective operation and development of an organisations processes and the employees who are charged with carrying these out. This is important as, ‘one of the principle reasons for members of the workforce leaving an organisation is due to perceived poor handling of the manner in which their talents and skills base are managed (Hay, 2002, p52-55). According to Gennard and Kelly, encouraging line managers to participate in a more centralised and involved role in HRD provides opportunities for them to experience personal growth and greater competencies as a by product of this new responsibility. The stand to gain greater competencies in managing and maintaining relationships with the people they work with on a day-to-day basis. This would be possible because of their familiarity with both the needs and expectations of employees on a business wide as well as a personal level (1997, p27-42). It is paramount that line managers recognise their role in facilitating and providing for a working environment which both promotes and supports learning. They must be aware of how critical this step is to securing the best learning environment possible for their subordinates. This entails implementing a programme of continuous learning. This would encompass on-the-job training, which from personal experience I can confidently state that I found to be far more beneficial than my time spend in classroom based training sessions in the workplace. Incorporating an effective system of both formal and informal learning and feedback on a continuous basis should be recognised not just as a benefit, but as a necessity of the everyday working environment. This should be done from the very beginning of an employees tenure in a business organisation. Individual employees should be given encouragement to seek and take control of their learning process, and attempts at looking to better themselves should be recognised and where appropriate, rewarded. Opportunities should be provided by the line manager to utilise ‘cross training to enhance their skills base, meetings to provide and receive feedback on job performance and shortfalls and mentoring programs to help employees to adapt to life in their working environment as seamlessly and comfortably as possible (Cunningham, and Hyman, 1997, p9-27). According to the study by Jurgita Ã…Â  iugÃ…Â ¾dinien, five main roles were identified which demonstrate what is expected by line managers in the context of HRD. These were that: Line managers are expected to discuss the performance and professional development of their subordinates with them on a regular basis. They are expected to liase with HRD training specialists on a wide variety of HRD and HRM issues to ensure advancement of development programs and constant feedback. They should show an active interest in conveying their interest in and support for the learning of their subordinates as part of their day-to-day responsibilities in their role. They should be proactive and heavily involved in the training and learning and development aspect of their subordinates learning within the workplace. They should be actively involved in the development of HRD strategy (2008, p33). An important influence on the attitudes of line managers towards HRD is their perception of the role they play in the development process, which ultimately affects their attitudes and motivations towards their part in the process. A study by Andrea D. Ellinger and Robert P. Bostrom, found that line managers differentiate between how they perceive their roles in facilitating the learning of employees in learning oriented organisations. Their study found that managers see a distinction between ‘managing and ‘coaching. They see them as being separate functions and in some cases, opposing influences on each other requiring a different skill set to effectively implement them. ‘Managers were perceived as being those in charge in positions of authority. Conversely, coaches were viewed as those in their positions who were entrusted with helping employees to succeed (2002, p147-179). On major barrier in the effective implementation of HRD duties by line managers is due to a lack of coaching skills and insufficient line management motivation. This outlook on the role in question is reinforced by findings that the least popular HRD delivery mechanisms include coaching and mentoring. According to Heraty, this may be due to the large commitment of time and resources needed, or that it varies considerably from the speciality skills that managers generally possess and are used to implementing in their own tried and tested fashion (2000. p21-33). By making the process more attractive to both those who administer and receive this form of HRD delivery, it is likely that organisations would see beneficial implications for the business, management and employees themselves. According to a study by McGovern and Gratton, some managers are of the opinion that they expect the HRD function to disappear over time, ‘as learning issues become ever more integrated with the responsibilities of general management. In other cases, some managers appear to see a different role for HRD professionals in the future as they transfer to the role of organizational change consultants. The study notes that the responsibility for HRD is not commonly included within the terms of a line managers performance objectives. ‘It may prove difficult for line managers to act in two opposing roles that of an assessor and that of a coach. Furthermore, line managers are not specialists in HRD. They may lack the necessary confidence, knowledge and organizational support to assume the required responsibility for HRD implementation (1997, p12-29). According to a study by Renwick, there are significant differences in the role of line managers based on the nature of business undertaken by their organisations. ‘Based on the ownership of the organisations; there are significant differences in line managers role in performance counselling, career planning, salary decisions, grievance handling, and employee termination† (2003, p262-280). This indicates that it is necessary to clarify what exactly is expected of line managers with regard to HRD, and what becomes of the role of HRD professionals should responsibility transfer to line management. Research by Ellinger and Bostrom indicated that managers were viewed as those who have to make the hard decisions, some of which would not be viewed as being consistent with those of being a coach. Managers were perceived to be involved in actions such as ‘ordering, judging and controlling the employees they worked with, whereas coaches had far more of a positive influence on their employees learning and morale, by empowering them to learn, helping them to more fully understand and removing as many obstacles that may inhibit their ability to learn. Conversely, coaches/HRD staff were seen to have far more of an influence in empowering employees to make decisions and in the process, to grow and develop into so that they can exert more influence as they increase their abilities and competencies. Managers and coaches in this study agreed that these roles were, in many cases, ‘distinct from each other and there were differing mental models and approaches that tied in with each role which influence how managers perceive different situations and how their approach will vary when addressing a situation depending on these models (2002, p147-179). All of the managers in the aforementioned study envisaged their role and responsibilities as entailing helping their employees to grow and develop to make sure that they understand how their role ties in to the rest of the organisation and how they can fulfil what is expected of them in this capacity. Managers in the study viewed the roles of being a manager and the concept of being a facilitator of learning as ‘dichotomous roles, but acknowledged that there were ‘eventualities which would involved moving between these roles in the nature of their work (Ellinger and Bostrom, 2002, p147-179). Since line managers usually are not specialists in HRD, they should be periodically screened and assessed with respect to their performance in fulfilling their roles, and their understanding of various learning needs. This should be done in both their area of their specialty, and in the area of Human Resource Development to ensure they are sufficiently confident and competent. It is important to increase their skill and knowledge in HRD, and it is advisable to consider incorporating HRD skills training in all varieties of training packages for managers. The capacity of line managers to provide advice and consultancy to all employees, be they managers or subordinates, should also be developed. Senior managers must be highly supportive in the HRD role of line managers, and an incentive system should be developed to motivate them to embrace it more fully through co-operation with HRD staff and additional training. This is essential, as ‘acting as a HRD facilitator demands a coaching management style, as opposed to a directive management style (Garavan, 1995, 11-16). The trend of increased line manager involvement is identified in the study by de Jong. He states that ‘there is a tendency toward decentralizing HRD responsibilities within organizations. He categorises the new line manager functions into three distinct areas: Analytic role: just as first-level managers are expected to discuss periodically the performance and the developmental needs of their subordinates, they should be periodically screened with respect to their performance and their developmental needs in respect of production and also in people management. Supportive role: just as they are expected to show interest in their subordinates developmental activities on a daily basis, line managers should experience continuous support from their superiors in their attempts to improve their skills. Trainer role: Just as they should provide training and coaching to their subordinates, they should receive instruction and guidance in order to develop in their management role (1999, pp176-183). Conclusion Greater management involvement in HRD reflects a significant transformation of line management responsibility in organisations. Before displacing traditional HRD roles, substantial investments in the capacity development of line managers is needed to ensure that they are capable of carrying out their new responsibilities. It can be concluded that line managers have not assumed responsibility for HRD across the board. It is difficult to fulfil this role, either because of their workload, lack of skill or lack of traditional management involvement in this area. Cooperation between line management and HRD specialists exists. However a lack of line managers involvement in HRD, as well as limited capacities of HRD specialists to support, liaise and consult with line managers can hinder this process. Future research into this area may reveal approaches by which managers can be trained in order to gain the required skill sets to be able to handle both levels of competency in which there is currently a grey area. Removing the rigid views of what it takes to be a ‘manager or ‘HRD professional and incorporating a new perspective of what the expectations of a line manager are in this process is an essential step in reconciling this process. Only after doing so can progressive steps be taken in implementing the line manager firmly in a position to facilitate an effective HRD function as part of their role. Line managers should be given more ownership of HRD strategies, allowing them to have more involvement in decision making at the policy formulation level. They should also be given the opportunity to provide input into developing a more strategic partnership with HRD specialists. In this way, they would develop a better understanding of the broader perspective of both roles and could address any weaknesses in the process. Taking an active role in supporting their employees in learning and development should become an integral part of a line managers performance objectives. References Cunningham I. and Hyman J. (1997) Devolving human resource responsibilities to the line: Beginning of the end or new beginning for personnel? Personnel Review, Vol.28, No.1/2, pp9-27. de Jong J.A., Leenders F.J. and Thijssen J.G.L.(1999) HRD tasks of first level managers. Journal of Workplace Learning, Vol.11, Issue 5, pp176-183. Dessler, G. (2000) Human Resource Management. New Jersey: Prentice Hall, Upper Saddle River, Ellinger, A.D. and Bostrom, R.P. (2002) ‘An Examination of Managers Beliefs about their Roles as Facilitators of Learning, Management Learning, 33 (2): 147-79 Garavan, T. N. (1995) Stakeholders and Strategic Human Resource Development. Journal of European Industrial Training, 1995, Vol. 19, No 10, 11-16. Gennard J. and Kelly J. (1997) The unimportance of labels: the diffusion of the personnel/ HRM function Industrial Relations Journal, Vol.28, No.1, pp27-42. Gibb S. (2003) Line manager involvement in learning and development: Small beer or big deal? Employee Relations, Vol.25, No.3, pp281-293. Hay, M. Strategies for Survival in the War of Talent,.Career Development International, 2002, Vol. 7, No 1, 52-55. Heraty N. and Morley M. (1995) Line managers and human resource development. Journal of European Industrial Training, Vol.19, Issue 10, pp31-37. Hutchinson, S. and Purcell, J.(2003) Bringing Policies to Life: The vital role of front line managers in people management. CIPD, London. McGovern P., Gratton L. and Hope-Hailey V. (1997) Human resource management on the line? Human Resource Management Journal, Vol.7, No.4, pp12-29. Renwick D. (2003) Line manager involvement in HRM: an inside view? Employee Relations, Vol.25, No.3, pp262-280. Ã…Â  iugÃ…Â ¾dinien, Jurgita (2008) Line Manager Involvement in Human Resource Development, VIEÃ…Â  OJI POLITIKA IR ADMINISTRAVIMAS, p32-36 Thornhill A.and Saunders M.N.K. (1998), ‘What if line managers dont realize theyre responsible for HR? Lessons from an organisation experiencing rapid change, Personnel Review, Vol.27, No.6, pp460-476.

Macbeth: Contrasts Of Nature :: essays research papers

Macbeth: Contrasts of Nature Georganne Hampton In the play, Macbeth, Shakespeare uses contrasts of nature in various ways. He consistently shows us that Macbeth and his wife's actions go against nature. The first lines of the play are a condensed version of the unnaturalness of things to come. "In thunder, lightning or in rain?" ( I, i, 2). In nature, thunder, lightening and rain occur together, but Shakespeare's use of the word "or" infers the unnatural occurrence of one without the others. "When battles lost and won" ( I, i, 4), is also not a natural occurrence. Battles are either lost or won. Shakespeare is implying the future opposites of nature in the forthcoming play. "Fair is foul, and foul is fair" (I, i, 11), further shows the use of inversions and paradoxs in nature that Shakespeare will use throughout the play. One of the main controversies of nature for the reader is that in spite of Macbeth's evil deeds, we still find him likeable. We see him in the same way that the King does when he welcomes him by saying, "O valiant cousin! Worthy gentleman" (I, ii, 24). We perceive him as valiant, because he is afraid of sacrificing his humanity. "My thought, whose murder yet is but fantasticle. / Shakes so my single state of man that function / Is smothered in surmise and nothing is / But what is not" (I, iii, 139-41). Macbeth has doubts about the predictions of the witches. He knows that it could be a trick and his misgivings make him seem to be a better person. Another thing that makes Macbeth likeable to the reader is the contrast with his wife. It is clear from her beginning that she is evil. She has reservations about Macbeth not being evil enough. "Yet do I fear thy nature" (I, V, 14). She fears he is too good to do the kind of evil deeds that she is planning. After Macbeth murders the King, he realizes the extent of evil that he has committed, but also realizes that the deed is done and there is nothing that he can do to rectify it. "As they had seen me with these hangman's hands / List'ning their fear. I could not say ‘Amen!' / When they did say ‘God bless us!'" (II, ii, 27-29). The fact that Macbeth is very troubled, and continues his tirade, "Will all great Neptune's ocean wash this blood / Clean from my hand? No, this my hand will rather / the multitudinous seas incarnadine, / Making the green one red" (II, ii, 59-62), evokes compassion for him from the Macbeth: Contrasts Of Nature :: essays research papers Macbeth: Contrasts of Nature Georganne Hampton In the play, Macbeth, Shakespeare uses contrasts of nature in various ways. He consistently shows us that Macbeth and his wife's actions go against nature. The first lines of the play are a condensed version of the unnaturalness of things to come. "In thunder, lightning or in rain?" ( I, i, 2). In nature, thunder, lightening and rain occur together, but Shakespeare's use of the word "or" infers the unnatural occurrence of one without the others. "When battles lost and won" ( I, i, 4), is also not a natural occurrence. Battles are either lost or won. Shakespeare is implying the future opposites of nature in the forthcoming play. "Fair is foul, and foul is fair" (I, i, 11), further shows the use of inversions and paradoxs in nature that Shakespeare will use throughout the play. One of the main controversies of nature for the reader is that in spite of Macbeth's evil deeds, we still find him likeable. We see him in the same way that the King does when he welcomes him by saying, "O valiant cousin! Worthy gentleman" (I, ii, 24). We perceive him as valiant, because he is afraid of sacrificing his humanity. "My thought, whose murder yet is but fantasticle. / Shakes so my single state of man that function / Is smothered in surmise and nothing is / But what is not" (I, iii, 139-41). Macbeth has doubts about the predictions of the witches. He knows that it could be a trick and his misgivings make him seem to be a better person. Another thing that makes Macbeth likeable to the reader is the contrast with his wife. It is clear from her beginning that she is evil. She has reservations about Macbeth not being evil enough. "Yet do I fear thy nature" (I, V, 14). She fears he is too good to do the kind of evil deeds that she is planning. After Macbeth murders the King, he realizes the extent of evil that he has committed, but also realizes that the deed is done and there is nothing that he can do to rectify it. "As they had seen me with these hangman's hands / List'ning their fear. I could not say ‘Amen!' / When they did say ‘God bless us!'" (II, ii, 27-29). The fact that Macbeth is very troubled, and continues his tirade, "Will all great Neptune's ocean wash this blood / Clean from my hand? No, this my hand will rather / the multitudinous seas incarnadine, / Making the green one red" (II, ii, 59-62), evokes compassion for him from the

L’oreal Tahiland Essay

L’Oreal is a beauty and cosmetic global company and is vastly spread company all over the world. The company is large sized as it is a Multi-National Company (MNC).L’Oreal offered a number of cosmetic products and beauty services through its fourteen brands they had in 2000, segmented on the basis of price and target markets. Some of the brands were Biotherm which exclusively offered skin care products Kerastase offered only hair care products PCI offered only fragrances and ancillary products Helena Rubinstein & Lancà ´me offered skin care as well as make-up products L’Oreal Paris covered hair colours, skin care, make-up and hair care products. L’Oreal Professional offered services such as hair colouring and hair care treatment Maybelline was exclusively used for make-up products Garnier only dealt with hair colours. L’Oreal offered their expertise in the service of women and men worldwide,  meeting the diversity of their beauty desires with a number of brands which targeted different markets accordingly. Biotherm, PCI, Lancà ´me covered the very high end market, L’Oreal Paris and L’Oreal Professional covered the high end and Maybelline and Garnier covered mostly mass market. L’Oreal Thailand had been performing poor after Asian crisis and was facing a decline in market share, low sales and profitability. Chris Martins, was appointed as a Managing Director in order to help increase the profitably, sales and market share of L’Oreal in Thailand. L’Oreal Thailand had two different local agents which were Slampar and Thailor. Slampar was the oldest one which had a joint venture with a local conglomerate. Due to the high import duties on luxury products Slampar manufactured some Lancà ´me products locally and imported the rest of the line. ANALYSIS CURRENT SITUATION Chris Martins, the new managing director was appointed to create a truly ‘L’Orealized’ company which upholds the long term values and deliver healthy profitable growth. The Asian crisis had negatively affected the market share, sales and profitability of L’Oreal Thailand. Thailand with a population of 63 million had the beauty market of Bt 26.6 billion. Thailand had faced a retail revolution as foreign retailers had entered the market and dominated all sectors. This had increased the level of competition and professionalism for L’Oreal Thailand as well as local companies. L’Oreal had two entities in Thailand, Siampar and Thailor which were later merged to form a single multi-division entity L’Oreal Thailand Ltd. But even after the merger the two companies did not talk to each other and had odds with each other. They also lacked media support due to which some of their brands not even known in the market. The current goal of the company is to solve their issues and further professionalize and stimulate their teams so as to survive in the Thai market. Internal Environment Strengths L’Oreal’s two major brands L’Oreal Professional and Kerasotes are market leaders and had an excellent image among top professional salons. Chris  Martin, who is a well experienced person in the L’Oreal industry, has been well utilized by the company in Thailand during the Asian crisis. From this we get to know that those who work sincerely with complete dedication & talent are given a chance to make use of it. The new managing directorr knows the seriousness of the issues faced by the company and is ready to implement changes in the organisation. The new MD is willing to work on the issue as a team rather than a self-centered approach. For a company’s success, working as a team will overcome any barriers. The company is able to identify the type of consumer’s whereby they can improve the quality of their business by concentrating on the type of consumers. L’Oreal in Thailand operated three divisions-luxury divisions, consumer division, professional division . This decentralized approach to handle respective responsibilities is a good characteristic whereby these three divisions can analyze their own areas and find the key areas to work on. Weaknesses L’Oreal Thailand is facing high turnover and is losing staff as the staff doesn’t see any future of the company. The staffs are just considered to be mechanical employees. The company is not considered about their well-being. Thus experienced employees are lost, young people are to be hired that lack in maturity and motivation. They are not able to catch up with the budget and are facing financial problems due to limited sales. The working environment in the organistaton is not inspiring and motivating for the employees as well as the reward system is out of touch with the market. They lack media support as they do not have enough funds to advertise their brands.Thus there was no clear positioning of the brand in the minds of Thai consumers. The organisation is much leaner and less bureaucratic than the international competitors.This company did not have a good tie up with the Thai government that were more protective about the local companies. A company can thrive only in a well-coordinated and cooperative environment. Martin noticed that there was bitter rivalry among most of the retail sectors. The business was restricted to beauty products only. The company had to think out of the box in order to compete with the counter brands L’Oreal, Paris management turns out to be self-oriented and not concerned about the well-being of the organization. They are not willing to spend beyond the assigned budget. Turnover is highest in the support functions as there is no HR Director at present. This is solely due to the narrow hiring criteria. External Environment Opportunities L’Oreal Thailand has the opportunity to come up in the market as it has a number of good quality brands which lack awareness among consumers due to less advertising They could use direct sales for make-up and skin care products instead of retail sales as this would help them to have direct interaction with their customers and know about their needs. L’Oreal can make specialised products specifically for Asian women so as to target the women’s in the Thai market and increase sales. L’Oreal can expand their business to non-beauty products also to increase their bar of business in comparison to the other leading brands. Beauty products can also be focused on men apart from women, thereby increasing a chance of rise in market. Online marketing should be put to best use to ease the customer needs and provide a niche solution in this technology driven generation. Threats L’Oreal Thailand has a lot of intensive competition in the beauty market due to the entrance of many strong foreign companies. One of the major threats would be the government regulations which could turn out to be deadly to shut down the business as the government tends to be more protective about their local companies. When similar products are introduced in market by different companies, consumers tend to choose the product with minimal price to satisfy their needs. The involvement of local companies in marketing of cosmetics can be a threat to the mass-cosmetic marketing. STRATERGIC CHOICE Methods of Pursuing Strategy External Environment Analysis: Analysing & Studying the current market situation : – Current competitors in the market (Existing companies and new foreign companies) – Finding out the Current Trends in the market – The Current Pays based on the market condition – Identifying the customer needs, what is being sold in the market and the products having high demand in the market. Internal Environment Analysis Analysing the Internal Environment: – Improving the working Environment of the employees i.e. creating a positive office ambience in which the employees feel enlightened to work – Providing deserving remuneration for the employees based on their expertise – Coordination within departments – Meeting the Working Capital Requirements – JUST IN TIME strategy can be applied for the production process – The HR Manager should be broad minded and should recruit new staffs and assign their position in the organisation based on their area of expertise and only skilled workers should be selected. – Motivation of the employees by the Top Management. FOUNDATIONS FOR COMPETITIVE STRATEGY (Marketing Strategy) Promoting their products with the help of media Specifically advertisements in televisions through which a large number of people can be reached over a vast geographical area. Various Sales Promotion methods can be used: – Price Reduction(Discount) Quantity gift, Providing free samples, Product combinations, Sampling, Personal selling. – Promoting products based on the customer needs (selected products having demand in the current market and excluding other products that are least preferred by the customers) STRATERGIC GAP External Environment As there were multiple foreign retailers and industries making their way in Thailand, the market share by L’Oreal was slowly and steadily declining by the entry of similar products in market. In order to increase the market share and revenue for the company, the managers should: Study about the  competitor’s strategy for sales and try to study the consumption of their products by different age groups. This can help them gain an additional advantage over other competitors. Internal Environment 1. L’Oreal has different departments but there was very little or no communication between the departments. So there is a need to improve the inter-department communication so the information can be reached throughout all the organization and they can work efficiently. This can be done by: a) Team Building activities for the employees b) Holding events like dinner or party so the employees can know each other. 2. The organization also faced the problem of the employees leaving their job. The main point here is that the employees didn’t have a satisfying work environment and adding to that the un-satisfying wages. This problem can be solved by the following; a) They should offer employees some incentives or bonus for extra time, extra paid leaves in case of better performance. 3. The company also faced the problem of slow generating revenue. This was happening due to various factors. a) They were selling their products only through 2 types of retail outlets. This was not helping them to make the products in everyone’s reach. b)The company was issuing invoices to the retailers but receiving the payments only when the products were sold. These issues can be solved by: †¢ Selling the products through more retail stores which help increase the sales. †¢ Collect the payments immediately while distributing the products to the retailers. Marketing Strategy The problem in marketing department was that it didn’t have the sufficient funds for promoting more about their products. The solution for this problem is that: †¢ Reduce their operating expenditure by introducing JUST IN TIME strategy. This will reduce the cost for storing the raw materials and as a result, the company can have a better margin over each product they sell. IMPLEMENTATION PLAN Development of alternative strategies enables to select the most apt strategy through proper evaluation of the success rate of each strategy. To make the selection of strategic process more effective, team members should have a clear understanding about the strategic goals thereby reducing uncertainties in decision making. Implementation of the pricing strategy, customer service and product development will definitely improve the firm’s performance. For the successful implementation of strategy there should be integration among the strategy implementation team and functionality between the various departments within the organization. If the corporate culture within the internal environment copes up with the rapid changes of external environment, the performance of the organization increases. Quality of communications plays a major role in the selection of strategy process. High quality communications within the organization can improve the firm’s market performance. Concerning the distribution of products, organisational and tactical planning needs to be done by selling of products through multiple retail stores in attractive ways by: improving the ambience introducing new products through a trial including beneficial offers or discount rates to stay competitive introducing raffle draws to allure customers JUST IN TIME strategy will reduce the storage cost of raw materials and as a result, the company can have a better margin over each product they sell. It is important for an organization to be well aware of the software potentials to improve the organizations efficiency. Employee empowerment in an organization can be done by: providing necessary skills to the employees providing them authority to take up right decisions required for their job providing adequate information and resources to do their job rewarding the employees for their hard work building confidence in them Human resource management can improve the organizational performance by: Introduction of leadership training programs and enhancing the skills and capabilities of the employees mentoring by the senior employees to give deep insight to the kind of work they are doing promoting positive attitudes and increasing motivation and job satisfaction increasing budget scales to allow experimentation within the company in order to take risks to meet the rapid changes of the external environment Allotting responsibilities to the employees so that they can make full use of their capabilities. These are the ways to improve the relationship of the employees within the company, thus producing highly committed employees in the development of the company. CONCLUSIONS AND RECOMMENDATIONS In conclusion, L’Oreal is still the market leader in the cosmetic industry of Thailand because it is providing quality products to its customers. They need to pay more attention to the relationships within the organization and between Tailor and Siampar as this will help them achieve their goals in the future. . Last but not least, well skills of managing conflicts, politics, controlling of power and the structured decision-making approaches within the organization structure and culture will assist L’Oreal Thailand to tackle with the challenges and come with a positive financial performance in order to remain the leader of cosmetics industry in Thailand. We would like to recommend the following to L’Oreal Thailand, firstly that each department should have a different decision making processes. Secondly the Managers should and need to learn from their mistakes as this will help them gain new information from their past failures. Thirdly they need to avoid the conflicts within the organization, the company should implement matrix organization to run the organization by listening more different ideas and respect the voice of colleagues, so the problem solving can be more flexible and objective. Next the company should find out the current trends in the market and try to differentiate their product in order to face competitions. Finally the managers need to motivate the employees if they want the best from all of them.

Implication for Managers Essay

The European Model presented a different approach to management that is uniquely different from its counterparts in the United States. The innovative form of management in Europe gain popularity because of the noticeable faster pace of innovation of Europeans as compared with the Japanese. The radical change in Europe is brought about by the tendency of firms from this continent to continuously seek new forms of organization by reforming structures, processes, and boundaries. The distinction of European firms from other countries is there degree of lateral flexibility wherein they can adjust to the differences of cultures, socio-economic, and legal systems across national boundaries. As a result, European firms excel on temporal flexibility that includes innovations that are related to progress, development of technologies, and the changes in social and economic realms over time (Tsutsui, 2001). In relation to this, European firms become more competitive because of the different management style that they implement, which is based on humanizing work in order to develop the needs of people in an organization that is increasingly becoming more nationally diverse. Being the case, the European management style has great implications on managers when it comes to the way they handle the operations and processes of the organizations and most especially on the way they manage employees (Grint, 1997). The Digital Equipment Corporation’s (DEC) is a manufacturing plant in Ayr, Scotland. During the end of the 1980s, DEC decided to respond to the need of American organizations to adapt to the commercial requirements of the European market when it comes to computer technology. The main problem highlighted in the Western-style of management is that it strictly follows the Taylor model of management. Western firms believe that effective management entails that there should a strict distinction among executives and workers. The executives have the responsibility of thinking what the employees should do and workers only have to follow it. In line with this, DEC adopted the â€Å"high-performance work design† in order to address the requirements for new product development, especially in the Far East. Due to the changes in the operation of DEC, the management styles of the organization have to change. The employees of DEC were trained and autonomous work groups were established in order to respond to the need of employees for flexibility and skills acquisition (Armstrong, 2006). The employees of DEC need a supportive style rather than a directive style of management. Being the case, the management style veers away from the concept of mass production and also of Taylorism and point towards the idea that management is a natural process that can actually happen by means of flexible workforce and production organization (Andersen & Taylor, 2005). The change in the management style of DEC has a huge implication on the managers of the organization. The managers of an organization have a pivotal role in the overall operations of the organization namely: planning, organizing, leading, and controlling (Lewis et al. 2006). In the case of DEC, managers have to do different tasks during the transition of the organization to a high-performance work design. First, the concept of focus is highly emphasized in the view of management when it comes to influencing the workforce when it comes to selling the development of new products. Second, managers have to give attention to the support of policies. Managers have to encourage employees to develop their skills by means of implementing a reward system. Third, managers have to establish a good and responsible working organization. DEC established work groups wherein each group that is compose of 12 members need to properly accomplish their responsibilities, including clocking in and out individually because flexitime was implemented. Fourth, the management style of the organizations greatly affected the managers because they have to implement a different style of leadership that gives individual support for employees rather than directive coordination. Fifth, project managers also have the responsibility to create new product line and collaborate with other employees in order to get their opinion and help in creating a competitive edge for the product. Sixth, managers have to make sure of engendering ownership when it comes to the process of the organization wherein managers have to gain the participation and enthusiasm of the employees (Jackson, 2002). The responsibilities of the managers of DEC during the transition in the management style of the organization represent the importance and pivotal role of managers. Contrary to the common belief that managers only have to deal with creating new ideas, planning, and managing the finances and other aspects of the company, a different perspective of managers is given by the European model that is exemplified in the case of DEC. Managers are viewed not merely as executive managers but rather leaders that actually inspire, direct, and guide their employees. In a world that is increasingly becoming competitive, managers of different organizations have to learn from the European model that humanizes the way of management (Leavitt, 2005). Managers in this kind of model do not merely relate themselves more with the employees but they are actually making the organization more relevant to the employees. The employees can actually realize the objectives of the company and be participative and enthusiastic enough to take part in achieving these goals rather than merely thinking of it as mechanical work that they have to do in exchange for money. Managers have the capacity to direct the organization towards its success and in doing so, they also have to give importance to development and growth of the employees.