The existing business world - Free Essay Example

Sample details Pages: 5 Words: 1402 Downloads: 9 Date added: 2017/06/26 Category Business Essay Type Narrative essay Did you like this example? ABSTRACT: The existing business world endures on the information acknowledge and this is an important for an organization. Data should be saved properly so that it can be used easily for future access. To compete with the global competitors, providing best services and products in time and within given budget plus using the best way of delivery and production will make the organization as the fortune company in the world. All this is achieved by the managers only with the right decision at the right time. 1) Identify and discuss the challenges of decision making in organisations. Decision making is the processing of taking right decisions for the purpose of reaching the company goals. â€Å"It can defined in many ways, according to Simon Decision making process ranges from highly structured to highly unstructured decisions i.e., programmed to non programmed decisions, also described decision making process with intelligence, design, choice, and implementation phases†. Simon (1977). In the present business environment organisations must deal with Business intelligence and the decision support systems as they play a major role in organisation decision making and performance. All these complexities create business opportunities but at the same time they present a lot of challenges to the organisations. The arrival of globalisation and telecommunication in the organisations will interact with their customers and suppliers globally by increasing their relation with customer base and offering them with cheaper supplies and services. There is huge compet ition within the organisations because of the globalization. Decision making and problem solving are very important for a business. Problem solving involves decision making which is important for Management. Decision making requires creativity in identifying and developing options. Business in the present situation has become complex for the organisations due to Demanding consumers, globalisation, government regulation, high competition and changing markets. Most of the processes in the organisations are automated. All this has made decision making a tough task in Business environment for different organisations. To make the correct decision making in the present situation, managers should use appropriate tools with proper updates and right techniques. Organisation must understand the changes in the business and adapt to the changing environments quickly by making faster and good decisions. Main reasons for why decision making has become more difficult are as follows: Don’t waste time! Our writers will create an original "The existing business world" essay for you Create order Usage of technology has increased the scope of potential choices. Factors that constantly change such as the government regulation, compliance, competition and consumer demands create uncertainty in the business environment. Quick decision making by using the trial and error method is not a good approach for making a right decision. Lack of collaboration is also a problem. Challenges like transparency and also the rivalries among the companies. Business environment factors are categorised into 4: Markets, consumer demands, technology, societal it emphasizes the complex factors to which organizations have to respond. To run an organisation in systematic way to achieve their goals, decision maker should analyse the complete resources and functions of his duty decision making should also include business intelligence for the performance of organization. Simon(1977) categorized decision making into four phases Intelligence phase, Design Phase, choice phase and implementation phase.(Page 53 of Turban et al.2007) 2) Describe how collaborative sharing of information and knowledge can occur within and across organisations through key enabling technologies. Every organisation has departments and employees. All the employees work in group and this helps in improving the productivity of the organisation. Employees working for the organisation, procedures and technologies followed by the organisations transversely affect the power of the organisation. Group decisions can be made easily and can be implemented faster as it is supported by the group members. Group decisions are generally made after obtaining the result from team meetings, opinions of the group and the judgements of the participants. All this process can give benefits or dysfunctions for the organisation. It is suggested to make the decisions in group meetings as the situation of the decision is also important. Group members can be at one place meeting face to face or there would be a virtual team. Teams can work at different places at different time zones, in such situations it would be hard to meet, they will have to communicate using proper technologies like team chats or the instant messaging provided on the intranet. Such tools are called the collaboration tools. Most of the organisations make use of the collaboration techniques and tools like virtual meetings as it helps in quick decision making and is cost effective. Communication for collaboration occurs using the internet, intranets and extranets. â€Å"Collaborative knowledge sharing is used by the companies to capture the knowledge in the heads of the employees and to improve the productivity of the organisation†. Tim Hughan Internet, Intranet and extranets are the technologies used to collaborate effectively. Intra organisational and extra organisational decision making is done through the usage of collaboration tools. Access to data, knowledge and information is made easier within and outside the organisation using the intranets, extranets and web based collaboration tools. Most widely used collaboration tools to improve collaboration within the organisation include VOIP voice over ip, collaboration hubs, wikis, collaborative flow and corporate portals. Communication, storage, collaboration and retrieval are the three kinds of technologies used to develop knowledge management systems.(Turban et al. 2007)Communication tools help the employees to access the required knowledge and to communicate with experts and there colleagues. Email, team chats, intranet, extranet and other web based tools help in communication among the employees. Collaboration technologies are useful to provide group work.â€Å"Groups can share the files and work on them at the same time. Storage and retrieval technologies use a database managements system for storing and retrieving the data. This works for explicit knowledge, but storing and managing data requires different tools†. Turban et al.2007 page 497). Collaboration tools that are used to share the knowledge among the group and virtual teams are Synchronous and Asynchronous. Group members support synch ronous or asynchronous or both to communicate with each other. In synchronous communication and collaboration are done by the participants in real time. Some examples for synchronous are Instant messaging (IM), Voice over ip(VOIP), Instant video, Video conferencing, multimedia conferencing, audio conferencing, brainstorming, polling and other decision support. In asynchronous the communication and collaboration are done by the participants at different time. Workspaces, auto responder, threaded discussions, Email, SMS, Activation of notification alerts via Email or SMS, use of bulletin boards, use of blogs, wikis, and wiki logs, chat session logs, design tools or collaborative planning, message sorting for users, discussion groups and bulletin boards are some of the examples for asynchronous collaboration. 3) How improved decision making through information and knowledge sharing can be incorporated and enabled in business intelligence systems. Advantage of business intelligence is to extract knowledge that will improve the business performance of an organisation. (Loshin 2003). Business intelligence defined by DATA Warehousing Institute (1999) explains the relationship between information, knowledge management and business intelligence. The process, technologies and tools required to turn data into information, information into knowledge and knowledge into plans that drive profitable business action. It helps in providing methods for extracting value from that knowledge by improving day to day operations and strategy performance in an organisation. Loshin (2003) gives a list of business intelligence applications which include human capital productivity analytics, customer analytics, business productivity Analytics, sales channel analytics, supply chain analytics and behaviour analytics. All of these applications depend on knowledge management. Business is realized only when organisation can action on shared knowledge to improve business performance. CONCLUSION: Business intelligence maintains the constant check on the organisations performance which helps the managers to see the dangers, opportunities, benefits and buy them some time to make better decisions. Proper use of information in planning and strategies will help organizations to promote its values which will ultimately help them in better decision making. REFFERENCE: Alan Champan, 1995-2010, Problem solving and decision making, viwed on 12th April 2010 https://www.businessballs.com/problemsolving.htm Tim Hughan, Mar 9th, 2009,collaborative knowledge, viewed on 10 April 2010https://www.blogcatalog.com/blogs/collaborative-knowledge-sharing.html Lecture slides on USQ study desk, module 3 slide 38. Turban, E, Aronson, J, Liang, TP, Sharda, R 2007, Decision support and business intelligence systems, 8th edn, Pearson Education, New Jersey. Loshin, D 2003, Business intelligence: the savvy managers guide: getting on board with emerging IT, Morgan Kaufmann Publications, San Francisco, pp. 1-17 Nathaniel 2008,â€Å"Organizational Network Analysis† viewed on 12 April 2010 https://www.welch-consulting.com/OrganizationalNetworkAnalysis.htm

Models Professional Behavior That Reflects Honesty,...

9I: models professional behavior that reflects honesty, integrity, personal responsibility, confidentiality, altruism and respect. 5L: develops a variety of clear, accurate presentations and representations of concepts, using alternative explanations to assist students’ understanding and presenting diverse perspectives to encourage critical and creative thinking. Performance Activity 46: Document how you demonstrated honesty, integrity, personal responsibility, confidentiality, altruism and respect throughout this preclinical experience. (i.e., students, cooperating teachers, other school personnel university supervisors). I have demonstrated honesty with my cooperating teacher and to students by not lying. Truly I have been honest†¦show more content†¦I have completed task and own to my responsible of those tasks. Confidentiality correlates to responsibility by how I maintain each student’s IEP goals, benchmarks, accommodations, and modifications. I do not share information to anyone their IEP summaries besides when it comes to lesson plans, but I keep their identities safe; I never provide each student’s full names. In preclinical two, I have demonstrated altruism and respect. Altruism is defined by one completing task out of pure selflessness. As a future special education teacher, I want to help students with and without disabilities to help become the best they can be. I personally believe teachers don’t teach for the money, they teach to help students become the best citizens and to help student reach their academic and personal goals. I go to every site visit to help students reach their goals. I demonstrated responsibility by being following Benedictine University’s rules/ expectations, Maercker Intermediate School’s rules/expectations, and Mrs. Corcoran’s rules/expectations. Throughout my preclinical expectations, I have grown as teacher candidate Performance Activity 48: Interact with students by teaching your 2nd of 2 co-taught lessons. Immediately after the lesson is taught, reflect upon the lesson to write a self-assessment, add cooperating teacher comments, a goal and send the approved/reviewed/revisedShow MoreRelatedTeacher Ethics Essay1379 Words   |  6 Pages teacher ethics | Priority of Specific ethical disposition/protocol and rationale. | The professional educator makes a constructive effort to protect the students from conditions detrimental to learning, health, and safety. (AAE 2013)The professional educator should promote positive changes in the school/community that benefit the welfare of others.( COE- GCU 2013) | Priority: 1 I chose this Professional Deposition as number one because children are unable to recognize the situation is beyond theirRead MoreLearning Journal Unit 8. 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While, ideally, this â€Å"code of conduct [†¦] fosters a standard of behavior so consumers know what they can expect when similar situations a rise, regardless of who the interpreter may be,† (Humphrey Alcorn, 2007, p. 302) ethical dilemmas thatRead MoreThe 7 Habits Of Highly Effective People Essay1468 Words   |  6 Pagesnetworking to provide best services to our clients in the community, getting to know community services are important to the program leader to best serve the communities. Eventually, the society is benefitted at large by these leadership measures. As I reflect on leadership practices I find life stories to be part of my leadership. 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The mission statement supports the vision and communicates the direction to all affiliates, associates, employees and stakeholders. As the organization evolves, the mission statement can change to reflect developing priorities and methods to accomplish its vision. The mission statement should be based on the core competencies of the company. It is ideal to base this on competitively superior internal strengths where the individuals, within theRead MoreThe Teacher As Role Models1659 Words   |  7 Pages and not just educate the student based on the standards of the textbooks. It was expected that when children went to public schools that they were to be taught moral values. As stated by Angela Lumpkin in her article entitled, â€Å"Teachers as Role Models, Teaching Character and Moral Virtues,† found on the CSU Chino database, she states, â€Å"When public schools were established in the United States in the 18th and 19th centuries, one of their stated missions was to teach moral virtues (Lumpkin 45).†Read MorePersonal Statement On Personal Leadership1131 Words   |  5 Pagesmotivates me the most to uphold those values. My leadership style will be analyzed showing an in depth look at how I work to influence others. We will also take a look at my personal competencies and skills on how I develop my subordinates, model desirable behaviors, challenge the status quo and hold myself and other accountable. Throughout this paper I hope to gain a better understanding of my personal leadership growth plan since it will highlight my strengths and a reas of improvement. 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Anatomy And Physiology And Describe Their Subdivisions

1) Define anatomy and physiology and describe their subdivisions. - Anatomy studies the structure of body parts and their relationships to one another. Body structures can be seen, felt, and examined closely. - Gross, or macroscopic, anatomy: Study of large body structures visible to the naked eye, such as the heart, lungs and kidneys. - Regional anatomy, all the structures (muscles, bones, blood vessels, nerves, etc.) in a particular region of the body, such as the abdomen or leg, are examined at the same time. - Systemic anatomy- Body structure is studied system by system. When studying the cardiovascular system, you would examine the heart and the blood vessels of the entire body. - Surface anatomy- Study of internal structures as†¦show more content†¦For example, bones can support and protect body organs because they contain hard mineral deposits. Blood flows in one direction through heart because heart has valves that prevent backflow. 3) Name the different levels of structural organization that make up the human body, and explain their relationships. 1. Chemical level- atoms combine to form molecules. 2. Cellular level- molecules, in turn, associate in specific ways to form organelles, basic components of the microscopic cells. Cells are smallest units of living things. 3. Tissue level- Tissue are groups of similar cells that have a common function. The four basic tissue types: - Epithelium- covers body surfaces and lines its cavities. - Muscle provides movement. - Connective tissue supports and protects body organs. - Nervous tissue provides a means of rapid internal communication by transmitting electrical impulses. 4. Organ level- Organs are made up of different types of tissues. Organ is a discrete structure composed of at least two tissue types that performs a specific function for the body. 5. Organ system level- Organs that work together to accomplish a common purpose make up an organ system. 6. Organismal level represents the sum total of all structural levels working together to keep us alive. Contains organism, the living human being. 4) List the 11 organ systems of the body, identify their components, and briefly explain the major functions of eachShow MoreRelatedThe Discovery Of A New Science1634 Words   |  7 Pages The Discovery of a New Science A Brief History Physiology has piqued human curiosity for thousands of years. In the early centuries, examination and dissection of the human body was a taboo practice and consequently became mired due to ethical or religious concerns. Scientist had no choice but to undertake inconceivable acts, such as grave robbery in the name of learning and educating. They carried out dissections in secrecy. Human physical and mental health practices have greatly benefittedRead MoreEssay on Mckinley Anatomy and Physiology Answers14715 Words   |  59 Pages___________________________________________________________________________ 1. The word anatomy comes from: A. Latin and means to be born. B. Hebrew and means shape. C. Greek and means to cut apart. D. German and means body. E. Italian and means form. 2. Anatomy is the study of: A. stars. B. function. C. sharp tools. D. structure and form. E. word histories. 3. Since the body has been the same for thousands of years, anatomy is considered a static classification system insteadRead MoreIntro to Anatomy1350 Words   |  6 Pagesparietal pericardium/outer surface of heart Which ventral cavity subdivision has no bony protection? 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The House of Wisdom of Bagdad was also responsible for the translation of ancient Persian and Greek medical Works (School of Gundisapur, works by HippocratesRead MoreLogical Reasoning189930 Words   |  760 Pagesis not the correct answer because, although it does show two people having a disagreement, neither one is arguing in our technical sense of â€Å"argument,† because neither is giving reasons for what is said. Choice (c), on the other hand, merely describes the Republican Party. One moral to draw from this Concept Check is that an argument based on incorrect information is still an argument; a bad argument is still an argument. A second moral is that an argument can have just one reason, although

My First Time Hearing About The People s Mind - 1642 Words

When somebody says a microaggression to somebody else they don’t know how it effects the other person’s mind, and that can go two ways in people’s mind, either they can laugh it off and act like they don’t care or it can hurt them bad and make them want to cry. Most of the time if people hold it in they really care but their pride is too high for them to say anything to the person. So that can end up messing up their mind by causing them to have bad thoughts about every little thing somebody says to them. When people let out how the microaggression hurt them, I believe they get a sense of relief because they don’t have to keep it on their mind for forever. If you keep it on your mind forever, it’s just going to bring you down every day you don’t say anything. During my first time hearing about microaggressions, I thought it was a small issue around the United States. But to my surprise, I found that microaggressions were a worldwide is sue. When I learned the full meaning of microaggressions it made think of all the things I’ve ever said that could go in that category. I thought to myself dang that was pretty messed of me to say. As I looked into them more I saw that there were a lot of elements that tie into microaggressions such as trigger warnings and political correctness. Microaggressions, brought up unknowingly or on purpose can cause a lot chaos to college students and around college campuses by causing a lot of arguments and debates on what is and isn’t right to say.Show MoreRelatedThe Problem Of Deaf Culture1434 Words   |  6 Pagesthis essay. Most people, when they think of deafness, assume that it is nothing more than a disability. This is erroneous because defining what deaf really means, means looking past the definition and looking into the heart of a deaf person, to see equality among us all. Equality among humans isn t controversial, but what is? Cochlear Implantation is controversi al. Inserting an internal disruption of the deaf culture is controversial. Placing an electronic device in your children s ears because youRead MoreMy Thoughts On Chapter 9905 Words   |  4 Pagesessay will reflect my thoughts on chapter 9. In brief this chapter deals with how the ears allow us to be able to hear and process sound. When I first think of sound I think of the frequency. This makes me think of songs that I listen too in order to determine it s a high frequency or a low frequency. I ll be able to determine the amount of hertz that are in songs on the radio. I do feel that it would be hard to determine because most of that music is reordered, hearing people sing a cappella wouldRead MoreLife And Contributions Of Marlee1396 Words   |  6 PagesGrove, Illinois to Libby and Donald Matlin. She lost all hearing in her right ear and 80% in her left ear, when she was 18 months old due to genetically malformed cochlea. 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Naturally gifted in the field of music since a young age, he was first taught by his alcoholic father, who was rumored to have, â€Å"flogged, locked in the cellar and deprived of sleep for extra hours of practice,† (bio.com)Read MoreLetter About My Dream Job798 Words   |  4 Pagesam, First of all, I want to thank you for giving me an opportunity to prove myself and to serve this company. Right now, I am about to complete my masters in computer science. Since childhood, I have had a deep interest in Computers. There is a story behind this. I was born in the 90 s. And at that time Computers were very rare in my country. I saw a computer for the very first time at my neighbor s house. I was surprised to see that kind of small television. I asked about that to my fatherRead MoreAudience Analysis : Characteristics Of My Classroom Audience981 Words   |  4 PagesCharacteristics of my Classroom Audience Audience analysis is described as the process of examining information about your listeners. 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Originally, I wanted to answer que stions about how cultural values, traditions, and perceptions affectRead MoreSociology and Disabilities1187 Words   |  5 Pageswould you want your deaf child to have this technology? It is every parent s dream for their child to grow up healthy and happy. There are so many children in the world that do not have the ability to hear, and it is a horrible thing. Many would think it wrong for a parent to not want to give their child the gift of sight. If I had a child that was deaf, I would do everything in my power to help them get their hearing. If the technology was there to fix this disability, why wouldn t anyone want

Financial Aid Free Essays

Federal regulations require students to maintain Satisfactory Academic Progress (SAP) in three areas- cumulative GPA, hours earned or completion rate, and maximum timeframe – to be eligible for financial aid. It is the student’s responsibility to stay informed of the University’s SAP standards and to monitor their progress, through our Banner system. A complete description of VSU SAP policy for financial aid purposes can be found on the VSU website at www. We will write a custom essay sample on Financial Aid or any similar topic only for you Order Now vsu.edu , click 1) Financial Aid, 2) General Information and 3)Satisfactory Academic Progress. Extenuating or Mitigating Circumstances; An appeal can be submitted if a student’s failure to be in compliance with one or more areas of SAP is due to events beyond the student’s control. If such mitigating circumstances can be documented for the specific semester(s) when the deficiencies occurred, the student may submit this completed SAP Appeal, along with all required documentation. Submission of the appeal does not guarantee approval. Students appealing to reinstate eligibility; you are granted one opportunity to appeal, (no repeat appeals), however re-evaluation for more than once is based on a case-by-case basis. Those students may not submit an appeal for the same previous reason Supporting Documentation To confirm your extenuating circumstance(s), you must attach documentation from an objective third party (Example: Physician, counselor, lawyer, social worker, teacher, religious leader, academic advisor, VSU Counseling Center). Documentation must be on official letterhead and verify that extenuating circumstances occurred during the timeframe referenced in your appeal. In cases of death of an immediate family member, provide a copy of the death certificate or obituary. Appeals without supporting documentation will not be reviewed. Reinstatement of Aid A financial aid Staff member will notify you of the decision by mail or via email to your official VSU email account. If your appeal is approved your financial aid is reinstated for the current semester. Eligibility is not retroactive to a prior term. If your appeal is denied you may choose to apply for an alternative loan. All decisions of the Financial Aid SAP Appeal Committee are final and not subject to further appeal. Appeal Deadline SAP appeal and supporting documentation must be received by the VSU Office of Student Financial Aid by June 20 for the fall semester and January 6 for the spring semester. Summer appeals must be submitted prior to the first day of classes. Appeals received after these dates will be considered for the following semester. It is the responsibility of the student to initiate an appeal before the specified deadline. How to cite Financial Aid, Papers

Strategic Management on Proton Malaysia - Myassignmenthelp.Com

Question: Discuss about theStrategic Management on Proton Malaysia. Answer: Introduction Purpose of the report The purpose of the report is to design and formulate a strategic management plan for Proton Malaysia by using various organizational theories and tools. The internal and external factors, influencing the business would be considered to analyze the management issues of the company. Overview of the company The chosen company for this report is Proton Malaysia. Proton is one of the leading car manufacturers of Malaysia. It has achieved a great success and the brand name has become the nations pride. The company is based in Malaysia, with headquarter in Shah Alam in Selangor, and its activities include car design, manufacturing, sales and distribution. It was founded in 1983 and was the only national badged automobile organization until 1993, when Perodua arrived. Proton emphasizes on the quality of products and outstanding service. It has captured the local Asian market of automobiles in a larger way (Proton.edar.com 2017). Products The company was established to manufacture parts of rebadged Mitsubishi Motors. The company started to produce non-badged, indigenously designed cars in 2000, and that made Malaysia the worlds 11th country to design and produce cars from the scratch. 2000 onwards, the company has been producing a combination of badged and locally engineered cars. The Proton cars are now sold in 15 countries, maximum of those are Asian countries. The company has many models in the market currently, such as, Saga, Persona, Iriz, Ertiga, Preve, Suprima S, Exora, Perdana etc. It also produces and maintains parts of older models, Arena, Inspira, Gen.2 etc. Proton also provides an efficient after sales services. They have launched their own mobile app that has made making appointments easier. There are multiple service centers across Malaysia and in other countries also, which stay open for 7 days a week (Proton.edar.com 2017). Mission, vision and values Vision: The vision of the company is to become a booming Malaysian automobile manufacturer operating in the international market. The objectives of the company are to spearhead the automobile industrialization and manufacturing procedures, to obtain and improve the technologies and industrial skills inside the industry, and to face the competitive challenges in the international market and improve their quality (DRB-HICOM 2017). Mission The missions of the company are to deliver customer satisfaction through quality products, deliver good return to the shareholders, promote a supportive and encouraging working environment with a focus on HR development and maintain responsible business (DRB-HICOM 2017). Evaluation of mission and vision According to Johnson et al. (2014), the focus of the company was to provide customer satisfaction as well as become a national brand. These objectives have been fulfilled by Proton. Becoming the first national brand works as a motivational factor for the company, and helps them to maintain their status as a market leader. The clarity regarding the aims for providing efficient services for the stakeholders and employees are fulfilled, which is reflected in the growth of the company (Felker, Jomo and Rasiah 2013). Macroeconomic analysis PESTLE analysis(Source: Srdjevic, Bajcetic and Srdjevic 2012) PESTLE analysis is a tool or framework, used by the organizations to analyze the macro-environmental factors. PESTLE analysis helps an organization to assess the external factors and formulate strategies accordingly (Srdjevic, Bajcetic and Srdjevic 2012). The acronym PESTLE stands for Political, Economic, Social, Technology, Legal and Environmental. For the organization Proton, the PESTLE analysis is explained below. Political: This refers to the level of government intervention in the economy. The rules and regulations of the government, policies, political condition in the home country and other countries, tax policy, foreign trade policy, labor law, trade restrictions etc. are the political factors that can affect the businesses. Any organization should abide by the laws and if there is political instability then the operations of the businesses would be hampered. In case of Proton, the company operates in total of 15 countries, mostly Asian. The region is known as AFTA, that is, Asian Free Trade Area. The impacts of the policies on eradication of tax barriers in the AFTA region and National Automobile Policy (NAP) are the political factors influencing the business strategies of Proton (Jomo 2013). Economic: It is one of the major influential factors for any business. Economic growth, exchange rates, interest rates, inflation, GDP, per capita income etc. have significant impacts on the businesses of a country. The demand and supply in the economy are also determining factors for the performance of businesses in that country. The international economy also has a significant effect on a business, which operates in multiple countries. Macro-economical factors, such as the economic and monetary policies of the government, market competition; and micro-economic factors, such as, the consumer behavior are the main components of the economic factor analysis of PESTLE (Porter 2008). In case of Proton, the market for automobiles is highly competitive. Its main rival is Perodua, followed by Honda, Toyota, Nissan, Hyundai and Volkswagen. The global financial crisis and pure segmentation of the market of consumers have relevant impact on the sales of the company. Social: This factor refers to the socio-cultural elements determining the course of the business. The attitude and nature of population, and shared belief form the socio cultural aspects for any business. These include growth of the population, age distribution, religious beliefs, career choice, health, education, culture etc. These factors help the businesses to understand the market demand in a more precise manner and produce accordingly (Porter 2008). The social issues for Proton consist of the rising concern for the increasing population, increased exposure to global markets, age and races, changing tastes and preferences of the customers, and customer loyalty towards the national brand, which creates both positive and negative impacts on the business. Technological: It is one of key factors for the businesses. The technology changes very fast and influences the businesses significantly, either positively or negatively. The working of an economy can change entirely if there is a huge technological change in the country. It can work in three ways, such as, new ways of production, new ways for distribution and new ways for communication with target markets. In other words, research and development, innovation, automation and technological awareness are the technological factors that affect the businesses. This is a major concern for the company, as it focuses on providing high quality cars at a low price. The implementation of new technologies, intellectual property regarding designs, and potentiality of developing a quality product are the technological factors for Proton (Wong and Govindaraju 2012). Legal: legal factors have both the internal and external factors. The business environment of a country is affected by certain industrial laws. The companies also maintain certain regulations on their own. The legal analysis takes into consideration of both these sides and strategies are made accordingly. The consumer laws, labor laws, health and safety standards are examples of this factor. The ethical and corporate governance are part of this factor. The legal factors for Proton consist of the commitment for safe and ecofriendly cars, consumer rights, the imposition of tariffs as well as protection by the government. Environmental: These refer to the factors from surrounding environment, which affect the businesses. It is very important for certain sector, such as, agriculture, tourism, farming etc. As the raw materials are becoming very scarce, pollutions increasing, hence, sustainability has become important to reduce the impact on environment as well as on the societies. Like all other companies, Proton also has involved itself for fulfilling the corporate social responsibilities. Protecting the environment and the communities for making a sustainable future are the important activities of Proton under CSR (Hadadi and Almsafir 2014). Industry analysis The industry analysis for Proton would be done on the basis of Porters five forces model. It is a framework, that is used to analyze the level of competition within the industry, and development of organizational strategy according to that. The intensity of competition, power of buyers and suppliers are analyzed through this model. Stronger the competitive forces, less profitable the industry is (Porter 2008). (Source: E. Dobbs 2014) According to the Porters five forces model, the five forces are: Industry rivalry, Threat of entry, Threat of substitutes, Bargaining power of buyers and Bargaining power of suppliers. Industry rivalry: As a national brand, the car manufacturer faces intense rivalry from Perodua. These two companies are the automotive market leaders in Malaysia. Proton focuses on lower prices for high quality. The other brands giving competition are Honda, Toyota, Nissan, Hyundai, and Volkswagen. Threat of entry: If the government implements rules for lowering import taxes on the foreign cars, and formulates friendly import laws, then the threat of entry is very high. The foreign brands would easily capture the market with a lower price. Along with that, if a manufacturer has high capital and investment capacity, then it would also pose threat for Proton (Johnson et al. 2014). Threat of substitutes: Perodua possess a threat for substitution for Proton. Both are made in Malaysia. Both offer lower prices. Hence, with attractive designs and quality, Perodua is a good substitute for Proton. In Malaysia, Motorcycles are also threats for four wheelers. Bargaining power of suppliers: There is a few dominant suppliers of parts of Proton. Since establishment, the company has earned the support of the government and hence, did not face much problems regarding suppliers. At the same time, switching suppliers can lead to comprise with the safety and quality of products. Thus, the existing suppliers have high bargaining power (Sawasnatee and Tai 2013). Bargaining power of buyers: In case of Proton, the buyers always look for high quality at a lower price. The cost of switching brands, number of buyers, brand loyalty, volume of purchase etc. determine the bargaining power of the buyers. Capability analysis of Proton Porters value chain (Source: Lee, Kim and Park 2012) This theory focuses on how value can be created within an organization. According to Porter, the value chain represents the understanding of the creation of competitive advantage, which is actually created by the value adding activities, like, designing, manufacturing, marketing, distributing and supporting of a product (Lee, Kim and Park 2012). All companies use to evaluate all of their activities in the method of converting the inputs into the outputs. Value chain functions are carried out to determine the costs and profits. Profit margin is defined by the difference between value created and captured and cost of creating that value. It is the value that is generated and captured by the organization. Conducted activities can be classified into primary activities and support activities (Gobble 2012). Primary activities comprise of inbound logistics, operations, outbound logistics, marketing and sale and service. The supporting activities comprise of infrastructure of the firm, HRM, technology and procurement. Margin refers to the profit margin (Porter 1996). Primary Activities Definition Activities performed by company How does it create value Strength/Weakness Inbound Logistics The inbound movement of parts or materials, and/or final inventories from the suppliers to assembly plants or retailers The company had 287 vendors, 3000 sub-suppliers, 5000 components with only 10% of them holding Grade A ranking in 2010. 60% parts were defective due to poor quality suppliers. The relationships with the vendors and suppliers are the key elements for creating value. As the number of defects was quite high, the company planned to reduce the number of vendors to 180 in the next few years. Operations Activities that converts inputs into outputs Engineering services, manufacturing and quality control are the main functions of operations. The production capacity of two plants of Proton is more than 200000 units per year in 2010 (DRB-HICOM 2017). Quality improvement helps in cost reduction and thus creates value for the company (Proton.edar.com 2017). The increase in quality production is the strength of the company, however, poor quality of parts is a weakness. Outbound logistics The procedures related to movement of final products and information to the stores and then to the end users. In 2012, the accommodation capacity in Sijngkang was 7000 cars, and in Tanjung Malim was 6000 cars. The company prepares car shipments for export, as well as supplies to the domestic market. The class procedures helped the company to reduce many problems like, secondary defects, unnecessary wait time to three days, excess inventory at the staging points, Marketing and sales The sales of goods and services and procedures for promotions, which create value for the customers Approved Permit (AP) was introduced for special category dealers. In 2009, NAP was introduced. Proton has acquired the permits for increasing dealers. With the acquisition of permits, Proton has been able to increase the number of used car dealers and franchises. The value is created in terms of increased sales. Without open permits, majority of used car dealers will not be able to operate in the market. It creates a restriction among the dealers. Services It refers to the after sales services. Proton has pre-purchase customer financial service, with government approval, support loans from the government; it also provides service, maintenance, consultancy in various centres across the country. The after sales services of Proton are efficient, which creates a value for both the company and for the customers. The strength of the company is the efficiency of pre and after sales services, maintenance programs. Supporting activities Infra structure Activities such as, accounts, finance, legal, control, quality assurance, public relations, and management Manufacturing and assembly activities, operations activities Utilization of geographical location, improving the local economy, integration of global investment in the business Strength - Domination of the local market, government protection HRM Activities involving recruitment, selection, training and development, compensating, and layoffs of employees The company has collaborated with universities for campus recruitment, arranges PIIC (Proton Innovation and Invention Competition) for generating new ideas. Skills development and training programs help in the development of the employees. Helps in creating new and innovative designs, improves the quality of employees, which is reflected in the quality of production. R D Activities related to technological development through research work, improvement of software, hardware, technical knowledge Creation of PTAC (Proton Technology Advisory Council) for technology acquisition, advising and providing recommendation, creation of PTR (Proton Technology Roadmap) and technology transfer The activities help in the improvement of existing technology and invention of new technology and designs. The technology transfer with Saudi Arabia in 2010 helped in creating prototype cars. Helps in gathering knowledge on the global techniques, emerging technologies and about the implementation of new technologies Procurement The activities related to acquisition of goods and services from an external source Acquiring raw materials, parts, components from local and global suppliers Helps to build a good relationship with the suppliers, locally and globally Helps in the development of international standard cars with the help of global technology and parts VIRN by Barneys (1991) Primary Activities Valuable? Inimitable? Rare? Non-substitutable? Sustainable competitive advantage? Inbound Logistics Yes Yes No No Temporary comparative advantage Operations Yes Yes Yes Yes Sustained comparative advantage Outbound logistics Yes Yes No No Temporary comparative advantage Marketing and sales Yes Yes No Yes Comparative parity Services Yes No No Yes Temporary comparative advantage Supporting activities Infra structure Yes No No Yes Comparative parity HRM Yes Yes No Yes Sustained competitive advantage R D Yes Yes Yes Yes Sustained competitive advantage Procurement Yes No Yes No Temporary competitive advantage Valuable: It refers to the concept of resources being greatly valuable for an organization, in terms of costs and benefits compared to that of the similar competing firms. In this case, all the activities of Proton are valuable. All these activities together have made the company one of the biggest national brands (Lin and Wu 2014). Inimitable: It represents whether the goods and services were difficult to imitate. For Proton, the inbound logistics, outbound logistics, and marketing and sales are difficult to imitate, while the other services can be imitated by the rival companies (Talaja 2012). Rarity: This implies that the resources must be rare so that its demand in the production process remains. Apart from RD and procurement techniques in Proton, none of the other factors is exclusively rare. Non-substitutability: This refers to the concept of if the factors are substitutable or not. In case of Proton, the inbound and outbound logistics and procurement services are substitutable, while the other services are not substitutable. These resources cannot be substituted by other resources (Fearne, Garcia Martinez and Dent 2012). Proposed Strategies Proposed business strategies for Proton cars are based on SWOT analysis. Strength 1. National brand 2. More than 14,000 cars are exported per year 3. The international markets for Proton cars are expanding over the years. Weakness 1. Product portfolio lacks variety 2. Brand awareness and share of markets are lower in comparison to other global brands Opportunities 1. Strategic brands acquisition 2. Emerging markets 3. Expansion of existing market 4. Rising demand for electronic cars Threats 1. Low cost substitutes from Chinese manufacturers 2. Macro economic factors leading to reduced sales 3. Still suffers from bureaucratic issues Cost leadership: Being the first national brand of automotive in Malaysia, Proton still enjoys the cost leadership in the market. It offers high quality cars at a lower cost. As the company has managed to gain competitive advantage in the market, it can be inferred that Proton has gained the cost leadership (Miller and Mork 2013). Differentiation: Proton has managed to capture the automotive market with the cars that are made in the nation. However, Perodua arrived in 1993 and became the biggest rival of Proton. The company has launched various models of low cost cars in the domestic and international markets (Soosay, Fearne and Dent 2012). Focus-differentiation: Under this strategy, the company has focused on small groups with differentiated products. Proton has utilized the customer loyalty towards the national brand and offered various models of Proton cars (Hollensen 2015). Following the SWOT analysis, Proton should focus on all forms of strategies, i.e., product development, market penetration, diversification and market development strategies. However, the key focus should be on product development. It should diversify its product ranges and enter new and emerging markets (Grant 2016). Evaluation of the strategy Suitability: The strategy of product development is most suitable if the company wants to expand. With the strengths and opportunities of Proton, the development and diversification strategies are most suitable for growth (Yarger 2012). Acceptability: To make the proposed strategies acceptable, Proton must think about the stakeholders interest. When the risk level is low, stakeholders would be interested to invest their money for further development and growth of the company. New product development based on market study should be an acceptable strategy to the stakeholders (Lustick and Kincl 2012). Feasibility: The proposed strategies for product development are practical and reasonable. To survive in the industry, the company should always improve its products. They should use new and existing resources for new products. Hence, the feasibility of the proposed strategy is quite strong (Andrews and Russell 2012). References: Andrews, G. and Russell, M., 2012. Employability skills development: strategy, evaluation and impact.Higher Education, Skills and Work-Based Learning,2(1), pp.33-44. DRB-HICOM, 2017. [online] www.drb-hicom.com. Available at: https://www.drb-hicom.com/wp-content/uploads/2016/08/DRB-HICOM_AR2016.pdf [Accessed 31 Jul. 2017]. Fearne, A., Garcia Martinez, M. and Dent, B., 2012. Dimensions of sustainable value chains: implications for value chain analysis.Supply Chain Management: An International Journal,17(6), pp.575-581. Felker, G., Jomo, K.S. and Rasiah, R. eds., 2013.Industrial technology development in Malaysia: industry and firm studies. Routledge. Gobble, M.M., 2012. Innovation and strategy.Research-Technology Management,55(3), pp.63-67. Grant, R.M., 2016.Contemporary strategy analysis: Text and cases edition. John Wiley Sons. Hadadi, K. and Almsafir, M.K., 2014. The Impact of online Advertising on Proton Sales among expatriates in Malaysia.Procedia-Social and Behavioral Sciences,129, pp.274-281. Hollensen, S., 2015.Marketing management: A relationship approach. Pearson Education. Johnson, G., Whittington, R., Scholes, K., Angwin, D. and Regner, P., 2014.Exploring Strategy. 10th ed. Pearson. Jomo, K.S. ed., 2013.Industrializing Malaysia: policy, performance, prospects. Routledge. Lee, H., Kim, M.S. and Park, Y., 2012. An analytic network process approach to operationalization of five forces model.Applied Mathematical Modelling,36(4), pp.1783-1795. Lin, Y. and Wu, L.Y., 2014. Exploring the role of dynamic capabilities in firm performance under the resource-based view framework.Journal of business research,67(3), pp.407-413. Lustick, M. and Kincl, T., 2012. Tourism destination benchmarking: Evaluation and selection of the benchmarking partners.Journal of Competitiveness,4(1). Miller, H.G. and Mork, P., 2013. From data to decisions: a value chain for big data.IT Professional,15(1), pp.57-59. Porter, M.E., 1996. What is strategy.Published November. Porter, M.E., 2008. The five competitive forces that shape strategy.Harvard business review,86(1), pp.25-40. Proton-edar.com, 2017.Home. [online] Proton-edar.com.my. Available at: https://www.proton-edar.com.my/ [Accessed 31 Jul. 2017]. Sawasnatee, J. and Tai, W.P., 2013. Comparative Case Study of Malaysia and South Korea Automobile Industry Competitiveness Analysis.EAU Heritage Journal: Social Science and Humanities,3(1), pp.19-38. Soosay, C., Fearne, A. and Dent, B., 2012. Sustainable value chain analysisa case study of Oxford Landing from vine to dine.Supply Chain Management: An International Journal,17(1), pp.68-77. Srdjevic, Z., Bajcetic, R. and Srdjevic, B., 2012. Identifying the criteria set for multicriteria decision making based on SWOT/PESTLE analysis: a case study of reconstructing a water intake structure.Water resources management,26(12), pp.3379-3393. Srivastava, M., Franklin, A. and Martinette, L., 2013. Building a sustainable competitive advantage.Journal of technology management innovation,8(2), pp.47-60. Talaja, A., 2012. Testing VRIN framework: resource value and rareness as sources of competitive advantage and above average performance.Management: Journal of Contemporary Management Issues,17(2), pp.51-64. Wong, C.Y. and Govindaraju, V.C., 2012. Technology stocks and economic performance of government-linked companies: the case of Malaysia.Technological and Economic Development of Economy,18(2), pp.248-261. Yarger, H.R., 2012.Strategic theory for the 21st century: the little book on big strategy. Lulu. com. Zalengera, C., Blanchard, R.E., Eames, P.C., Juma, A.M., Chitawo, M.L. and Gondwe, K.T., 2014. Overview of the Malawi energy situation and A PESTLE analysis for sustainable development of renewable energy.Renewable and Sustainable Energy Reviews,38, pp.335-347.

Manage Finance within a Budget Hotel Business

Questions: 1. How do you think this business could be divided into cost centres? Why might the organisation choose to make these divisions?2. How will budgets contribute to operational efficiency and what types of budget might be appropriate for such an organisation? Why?3. For each of the areas in the hotel, what direct and indirect costs would be applied and why must they be considered when drawing up budgets and developing financial reports?4. What financial reports might be of benefit to this establishment? Why?5. What types of waste might it be necessary to carefully monitor and control and why would this be necessary?6. Who should be responsible for collecting, inputting and recording the data that contributes to budgets and who should be responsible for monitoring budgets to determine how well performance is meeting expectations? Why?7.What types of budget deviation might occur and what should be done if deviations are identified? Answers: 1. The hotel business cost centre could be divided in guest service cost centre and restaurant cost centre. The hotel business mainly provides room service, drinks and food to its guest. Thus, segregating the cost within the guest service and restaurant could effectively help the company to distinguish in their expenses. In addition, as the cost that is required in restaurant and guest service is not relatively same segregation could help n reducing expenditure and improve its profitability. Jooste, Mothiba and Nolte (2014) mentioned that use of cost centres in hotel mainly helps in reducing the overall excess costs, which might be conducted to generate sales. 2. The small hotel like this could effectively use operating budget and cash flow budget, which could be changed in short-term to support the operational needs. In addition, the operating budget could mainly help the hotel to prepare a monthly budget to support its production activities. Lam, Yeung and Cheng (2016) stated that monthly budget is mainly prepared to compensate the ongoing financial revenue and expenditure conducted by the company. In addition, with the implementation of cash flow budget the small hotel business could identify the cash productivity, which could be used to maintain its productivity. Using operating and cash flow budget could help in reducing resource wastage, which in might improve its profitability. 3. The overall direct costs are mainly divided into direct material and labour, which is been used in the hotel. In addition, a restaurant, cafeteria, a piano bar, lounge bar and front bar has only direct costs as liquor and food served to the customers. However, the indirect costs are electricity cost, rent, salaries and other expenses incurred. Moreover, the motel complex of the hotel has direct cost on the expense, which is been conducted on rooms. The identification of indirect and direct cost mainly helps in preparing the budget, which could help in reducing the indirect ad direct (Hadjikakou, Chenoweth and Miller 2013). In addition, segregation of these might help in depicting the actual cost and financial stability of the company. 4. All the three financial report, which is balance sheet, income statement and cash flow statement might benefit to the small business. In addition, with the help of balance sheet the overall assets and liabilities of the company could be measured. This could help in depicting the operational capability of the company. In addition, the income statement might mainly help in depicting the profits or loss, which is been incurred by the company. Furthermore, the cash flow statement could help in depicting the current liquidity of the company and its ability to maintain the level of productivity. Lobo and Zhao (2013) mentioned that financial report allows hotel to take adequate decisions, which might help in improving its future scope. 5.The major waste that might be produced from the hotel is from food production. In addition, it is relativity known that 45% of the food waste might be generated from hotels, which could increase their overall expenditure. Furthermore, other waste occurs from rooms that is been used by customers. Pirani and Arafat (2014) stated that waste reduction could help in reducing cost and increasing profits of the hotel. 6. The financial planner and budget coordinator is mainly responsible for collecting and inputting the data required for preparing the budget. In addition, with the help of these collected data effectively budget is prepared. Moreover, the financial head is mainly responsible for monitoring the budget that is been implemented by the company. The financial head mainly evaluate the performance and expectation to derive the viability of budget, which is been prepared for the company. This viability detection of the budget mainly helps in depicting variances of the budget, which in turn help in identifying ability of the financial planner and budget controller (Ketema 2015). 7. There are mainly three types of deviation namely sales deviation, variable cost deviation and fixed cost deviation, which might occur in a budget. These deviations are mainly occurred if the projected values differ from actual output obtained by the company. In addition, if the deviation is incurred the company could effectively use variance analysis to evaluate the debt of deviation between actual and budgetary amount and then make adequate assumption in preparing the next budget. Furthermore, the company could also adjust the existing budget to maintain the level of productivity and attain the depicted profitability (Denison and Guo 2015). Reference: Denison, D.V. and Guo, Z., 2015. Local Government Debt Management and Budget Stabilization. InLocal Government Budget Stabilization(pp. 121-139). Springer International Publishing. Hadjikakou, M., Chenoweth, J. and Miller, G., 2013. Estimating the direct and indirect water use of tourism in the eastern Mediterranean.Journal of environmental management,114, pp.548-556. Jooste, K., Mothiba, T.M. and Nolte, A.G.W., 2014. The paradoxical effects of being a cost centre manager at a public hospital in Limpopo Province, South Africa. Ketema, M., 2015.Assessment of Budget Preparation and Utilization: Case of Addis Ababa City Administration Health Bureau(Doctoral dissertation, AAU). Lam, H.K., Yeung, A.C. and Cheng, T.E., 2016. The impact of firms social media initiatives on operational efficiency and innovativeness.Journal of Operations Management. Lobo, G.J. and Zhao, Y., 2013. Relation between audit effort and financial report misstatements: Evidence from quarterly and annual restatements.The Accounting Review,88(4), pp.1385-1412. Pirani, S.I. and Arafat, H.A., 2014. Solid waste management in the hospitality industry: A review.Journal of environmental management,146, pp.320-336.