Strategic Management Assignment - Free Essay Example

Sample details Pages: 4 Words: 1194 Downloads: 6 Date added: 2017/06/26 Category Management Essay Type Narrative essay Did you like this example? STRATEGIC MANAGEMENT Strategic Management Part A The main functional strategies an organization needs include: a financial strategy, production strategy, marketing strategy and a human resource management strategy. A financial strategy helps a firm to streamline its internal and external operations to generate profits. A production strategy enables a firm to plan and execute different tasks that are needed to increase volumes of output. A marketing strategy helps a firm to develop relationships with its customers to serve their needs better (Jiang, 2009, p. 153). Lastly, a human resource management strategy helps a firm to manage its employees to ensure they attain positive results. A firm may resort to a cost leadership strategy by selling its products at a lower price than that of its competitors to sustain its operations. The strength of substitutes in a particular market may encourage a firm to rethink the type of products it sells and the specific needs they serve. A firm may opt to differentiate its products to increase their value in a particular market to make customers more willing to pay higher prices for them (Jiang, 2009, p. 156). A firm may also choose to focus on niche segments to ensure it does not get exposed to risks that result from targeting a broad market. The notion of being à ¢Ã¢â€š ¬Ã‹Å"stuck in the middleà ¢Ã¢â€š ¬Ã¢â€ž ¢ occurs when business firms pursue divergent strategies which do not bring positive results to their operations. This notion is not always true because a firm that manufactures a variety of products has to implement different strategies that cater effectively to the needs of diverse target segments. Part B New product development is one of the growth strategies the firm intends to use. The firm intends to strengthen its market position in North America by developing new products that cater to customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ tastes and preferences. This approach will help the firm to attract new customers who are willing to sample these new products to find out the value they may obtain from consuming them. The firm intends to make its operations more innovative to create new demand for its products in the market (Rue Byars, 2003, p. 56). This approach will help the firm to diversify its products to increase its revenue streams. Market development is also another strategy the firm intends to implement to ensure that its products are easily available both local and international markets. The firm intends to create new demand for its products in underserved markets to strengthen its reputation in the long run. Through the use of advertising and marketing promotion, the firm intends to develop products that appeal to diverse consumer segments (Rue Byars, 2003, p. 59). The firm intends to use different marketing channels to make consumers understand specific attributes that define the products it sells and how they appeal to their consumption needs. The fir m needs to adopt a market penetration growth strategy by improving the quality of its operations. It needs to make its supply chain procurement processes more efficient to ensure timely production schedules are maintained. The firm also needs to come up with an efficient delivery system that caters effectively to consumer needs and expectations. As a result, the adoption of high quality customer relationship management strategies will help the firm to increase revenues obtained from its operations (Rue Byars, 2003, p. 63). Part C International expansion will benefit the firm because it is likely to take advantage of opportunities in markets that are not fully served by other firms. The firm may benefit from favorable investment laws in some countries which are likely to reduce the amount of costs it is likely to incur in its operations. International expansion provides an opportunity for the firm to strengthen the quality of its brand and this will beneficial to its long term business outlook (Hisrich, 2010, p. 78). The firm needs to pursue joint ventures with other firms to reduce regulatory and capital barriers that may bar it from operating in various international territories. International expansion may expose the firm to harmful risks caused by stringent regulations. The firm may also be exposed to risks caused by foreign exchange instabilities and this may result in heavy losses for the firm. Poor understanding of consumer behavior in some international markets may cause the firm to manufacture products that do not address the needs of targeted customers adequately (Hisrich, 2010, p. 81). A joint venture may slow down the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s operations in international markets due to sluggish decision making processes. Campbell is using a global strategic approach. The firm intends to expand its operations into Asia, North America and Australia by developing new products which attract new forms of consumer demand. The firm also intends to review the manner in which it conducts its operations by encouraging closer collaborations and information sharing between its employees located in various places (Hisrich, 2010, p. 92). Consequently, the firm intends to improve the value of its operations to penetrate different global markets to increase its profit revenues. Part D Small business ventures are business firms which employ less than 50 employees. Many small business firms are owned by women because they do not require a large amount of capital to start. Some small business firms operate as part of informal sectors of the economy because they do not have well defined organizational structures. In many instances, owners of small business ventures are involved in making day to day decisions that determine how operations are run (Gibb, 2000, p. 15). They rely on less costly channels to market their business mainly in form of word of mouth, referrals, social media pages and email marketing. Small business firms are vital in an economy because they help to reduce unemployment. They aid economic growth because they increase a governmentà ¢Ã¢â€š ¬Ã¢â€ž ¢s tax revenues. The overall strategic planning of small firms is short term. Since they are led by owners, they are not able to plan growth strategies that can help them attract new consumers to purchase their products (Gibb, 2000, p. 21). Owners are crucial to the success of their firms but they may lack the appropriate skills needed to introduce new systems that make it easy to control and coordinate operations after their business units have expanded. Small business firms encourage more people to be independent and this brings innovation into an economy. They take advantage of opportunities in different sectors and this is beneficial to long term economic growth. They provide owners with opportunities to network and exchange ideas through associations and this improves living standards in a given region. One disadvantage of small busin esses is that owners may not be willing to adapt to changes in the industry which increase their profits (Gibb, 2000, p. 27). Capital restrictions may also make it difficult for small business firms to expand and take advantage of opportunities in other markets. References Gibb, A. A. (2000). SME policy, academic research and the growth of ignorance, mythical concepts, myths, assumptions, rituals and confusions. International Small Business Journal, 18(3), 13-35. Hisrich, R. (2010). International entrepreneurship: Starting, developing and managing a global venture. London, U.K.: Sage Publications. Jiang, X. (2009). Strategic management for main functional areas in an organization. International Journal of Business and Management, 4 (2), 153-157. Rue, L. Byars, L. (2003). Management: Skills and applications. New York, NY: McGraw Hill. Don’t waste time! Our writers will create an original "Strategic Management Assignment" essay for you Create order

Analysis of Visiting Hour by Norman Maccaig Essay - 841 Words

Analysis of Visiting Hour by Norman Maccaig The poem Visiting Hour by Norman Maccaig is a very emotional one. The poet helps you to understand the situation and his feelings by the use imagery and word choice. Visiting Hour is written in the first person as the poet himself is going to hospital to visit a very close relative who is severiorly unwell and is dying. The poet is having an emotional effect as he is having different thoughts as the poem progresses. I think that the poet is trying to contain his feelings by not expressing them freely. The opening stanza begins with the metaphor The hospital smell combs my nostrils. This suggests that the poet is sensing that there is a†¦show more content†¦Stanza four begins with describing the nurse from their experience to their appearance. The phrase Nurses walk lightly, swiftly, here and up and down and there tell you the movement of the nurses. The phrase here and there is split up by up and down to emphasise the movement of the nurses. The movement is very unpredictable. I think that the movement of the nurses is to indicate the movement of thoughts in the poets head. The poet has many thoughts coming in and out of his head. Their slender waists miraculously carrying their burden of so much pain, so many deaths, their eyes still clear after so many farewells. The use of imagery by the poet suggests that the nurses are carrying a lot of pains. It also suggests that after so many deaths the nurses are still able to continue a normal life. I think that this is a mes sage to the poet telling him that there will be deaths around but there is nothing he can do to prevent it but to cope with the causes. The penultimate stanza begins with ward 7. The punctuation by the poet helps the reader to understand his situation. The full stop suggests the visitor is having a pause to try to collect his emotions together. The metaphor she lies in a white cave of forgetfulness describes the room and it also suggests nothing exciting. I think the room is very plain and bare.

Nigerian Economy, Gdp and Production. Free Essays

NIGERIAN ECONOMY/GDP AND PRODUCTION Nigeria recorded a Current Account surplus of 11. 60 percent of the country’s Gross Domestic Product in 2011. Current Account to GDP in Nigeria is reported by the African Economic Outlook. We will write a custom essay sample on Nigerian Economy, Gdp and Production. or any similar topic only for you Order Now Historically, from 1980 until 2011, Nigeria Current Account to GDP averaged 1. 2 Percent reaching an all time high of 37. 9 Percent in December of 2008 and a record low of -18. 7 Percent in December of 1986. The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes. Nigeria recorded a Current Account surplus of 5035. 99 USD Million in the third quarter of 2012. Current Account in Nigeria is reported by the Central Bank of Nigeria. Historically, from 2005 until 2012, Nigeria Current Account averaged 2373. 87 USD Million reaching an all time high of 9455. 37 USD Million in December of 2009 and a record low of -4410 USD Million in September of 2010. Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid). INDUSTRIAL PRODUCTION. In 2011 and 2012, Nigeria’s industrial production increased by 0. 10% as reported by the Central Bank of Nigeria. Historically, from 2007 until 2012, Nigeria Industrial Production averaged 3. 15 Percent reaching an all time high of 14. 90 Percent in December of 2011 and a record low of 0. 10 Percent in June of 2007. In Nigeria, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities. This page includes a chart with historical data for Nigeria Industrial Production. The data given on this page shows a year over year change in a seasonally adjusted Industrial Production Index. Industrial Production Index is an economic indicator that measures changes in output for the manufacturing, mining, and utilities. Although these sectors contribute only a small portion of GDP, they are highly sensitive to interest rates and consumer demand. This makes Industrial Production an important tool for forecasting future GDP and economic performance. Industrial Production figures are also used by central banks to measure inflation, as high levels of industrial production can lead to uncontrolled levels of consumption and rapid inflation. How to cite Nigerian Economy, Gdp and Production., Essay examples Nigerian Economy, Gdp and Production. Free Essays NIGERIAN ECONOMY/GDP AND PRODUCTION Nigeria recorded a Current Account surplus of 11. 60 percent of the country’s Gross Domestic Product in 2011. Current Account to GDP in Nigeria is reported by the African Economic Outlook. We will write a custom essay sample on Nigerian Economy, Gdp and Production. or any similar topic only for you Order Now Historically, from 1980 until 2011, Nigeria Current Account to GDP averaged 1. 2 Percent reaching an all time high of 37. 9 Percent in December of 2008 and a record low of -18. 7 Percent in December of 1986. The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes. Nigeria recorded a Current Account surplus of 5035. 99 USD Million in the third quarter of 2012. Current Account in Nigeria is reported by the Central Bank of Nigeria. Historically, from 2005 until 2012, Nigeria Current Account averaged 2373. 87 USD Million reaching an all time high of 9455. 37 USD Million in December of 2009 and a record low of -4410 USD Million in September of 2010. Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid). INDUSTRIAL PRODUCTION. In 2011 and 2012, Nigeria’s industrial production increased by 0. 10% as reported by the Central Bank of Nigeria. Historically, from 2007 until 2012, Nigeria Industrial Production averaged 3. 15 Percent reaching an all time high of 14. 90 Percent in December of 2011 and a record low of 0. 10 Percent in June of 2007. In Nigeria, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities. This page includes a chart with historical data for Nigeria Industrial Production. The data given on this page shows a year over year change in a seasonally adjusted Industrial Production Index. Industrial Production Index is an economic indicator that measures changes in output for the manufacturing, mining, and utilities. Although these sectors contribute only a small portion of GDP, they are highly sensitive to interest rates and consumer demand. This makes Industrial Production an important tool for forecasting future GDP and economic performance. Industrial Production figures are also used by central banks to measure inflation, as high levels of industrial production can lead to uncontrolled levels of consumption and rapid inflation. How to cite Nigerian Economy, Gdp and Production., Papers

Personality Overview free essay sample

Two theories of personality covered in the readings is explored, contrasted, and compared. Alder’s Individual Psychology and Jung’s Analytical Psychology is the chosen two for this personality overview. In addition to comparison, contrasting, and exploring the two theories, this overview will cover determinism verses free will and awareness of self. Jung’s theory, according Feist and Fiest (2009), â€Å"People are both introverted and extraverted; rational and irrational; male and female; conscious and unconscious; and pushed by past events while being pulled by future expectations† (p. 98). The Comparison Carl Jung created the theory of personality Analytical Psychology. Analytical Psychology assumption of occult phenomena can influence people’s lives. According to Fiest and Fiest (2009), â€Å"Jung believed that each person is motivated not only by repressed experiences, but also by emotionally toned experiences inherited from our ancestors† (p. 98). Alfred Adler created Individual Psychology to give an open minded view of individuals while driven by social influences. We will write a custom essay sample on Personality Overview or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Adler’s theory was people who works hard for success works selflessly and gain best psychological health. In comparison both men’s work was influenced by the same theorist, Freud. â€Å"Adlerian psychology views the individual as primarily a social rather than a sexual being and places more emphasis on choices and values than Freudian psychology† (Strictland, 2001, pp. 10-11). Both men believed dreams was important in figuring out another person’s psyche. Adler stated, according to Fiest and Fiest (2009), â€Å"Dreams are disguised to deceive the dreamer, making self-interpretation difficult. The more an individual’s goal is inconsistent with reality, the more likely that person’s dreams will be used for self-deception† (p. 89). In contrast Jung believed in archetypes, which are old images that come from the unconscious. According to Feist and Fiest (2009),† Dreams are key sources of archetypal material, and some dreams give what Jung reflected as evidence for the actuality of the archetype. The dreams make motifs that could not have been known to the dreamer through personal experience† (p. 106). Each men believed people’s motivations was toward getting to the last goal or self-realization. Basic Assumptions of Adler and Jung The center of Adler’s theory is his assumption. His assumption states that people are natural at socialism. Adler’s belief of people begin life fragile leads to his belief what people lack of makes him or her strive to overcome problems to become successful and be superior. â€Å"Jung wanted to comprehend the emblematic meaning of the substances of the unconscious; to be able to differentiate between individual psychology and psychoanalysis, Jung gave his discipline the label analytical psychology(Jacobi, 1996, Carl Gustav Jung (1875-1961). Jung’s assumption suggest there is three parts of personality; the conscious (ego), the unconscious, and the collective unconscious. The three help make a personality. Limitations The Adlerian theory has two limitations, which is internal consistency and parsimony. Accordingt o Fiest and Fiest (2009), â€Å"On this standard we rate individual psychology about average. Although Adler’s awkward and unorganized writings distract from the theory’s rating on parsimony, the work of Ansbacher and Ansbacher (Adler, 1956, 1964) has made individual psychology more parsimonious† (p. 94). Jung’s fascinating thoughts on myth left small amount of room for reductionism. According to Fiest and FIest (2009) â€Å"Unfortunately, Jung’s theory, like Freud’s, is nearly impossible to either verify or falsify. The collective unconscious, the core of Jung’s theory, remains a difficult concept to test empirically† (p. 131). Strengths A large strength in Jung’s theory is Jung did not make people out to be good or bad. He made it known people has the possibility of good and bad in the self. Adler’s strength in his theory is from the ability to make research, to compile research, and the capability to guide action. Adler also uses common sense approach to interpret an individual’s problem. Determinism versus Free Will One can find both Jung and Adler proposed inherent tendencies. Adler’s was social interests and Jung’s was collective unconscious, but both men had different ideas about determinism and free will. Adler’s thoughts was people have the capability to form behaviors and cultivate personalities that fit the individual’s goal (Feist Feist, 2009). Jung differed by proposing that ancestral experiences was responsible for language and actions by the means of dreams. Jung did not totally disbelieve in free will, he believed that people have a limited ability to show free will. Awareness of Self Adler and Jung both agree that movement to attain self-realization has to have both conscious, and unconscious motivation. According to Fiest and Fiest (2009), â€Å"Adler maintained that not all our choices are conscious and that style of life is created through both conscious and unconscious choices. Adler believed that ultimately people are responsible for their own personalities† (p. 95). Jung believed each person has both an introverted and an extroverted attitude, although one may be conscious while the other is unconscious (Fiest Fiest, 2009, p. 115). Both men had different opinions of the unconscious and the conscious mind. Conclusion Reading information on Alfred Adler’s Individual Psychology and Carl G. Jung’s Analytical Psychology gives one insight into personality from both theorist points of view. Both men made contributions to the development of personality theories that answer questions in psychology practices all over the world. Even though both theorist had different thoughts on personality, each men found a way to make both theories work and many tests have been use based from both men’s theories. When comparing Adler and Jung, one can know both men’s work was influenced by the same theorist, Freud. Each believed dreams was important in figuring out another person’s psyche. In Contrast, Jung believed in archetypes and Adler believed dreams deceive the dreamer, making self-interpretation difficult. In the middle of Adler’s theory is his assumption, belief of people begin life fragile leads to his belief what people lack of makes him or her strive to overcome problems to become successful and be superior. Adler’s theory has two limitations, which is internal consistency and parsimony. Jung’s limitation was his belief of myth left small amount of room for reductionism. Adler’s theory’s strengths was how his theory could be used, and well it worked for research. Jung’s theory’s strength was no person was thought to be bad or good. In free will Jung and Adler proposed inherent tendencies. Awareness of self, Adler and Jung both agree that movement to attain self-realization has to have both conscious, and unconscious motivation. In reading about each theorist one can understand how both men’s theories made positive marks on psychology then and now.