Tuesday, May 26, 2020

Accounting Analysis Essay - 2047 Words

1. Accounting Analysis Assess the degree to which the firm’s accounting reflects the underlying business reality. Identify accounting distortions and evaluate their impact on profits and the sustainability of profits. Financial statements are used to determine the business activities of a firm and the role of accounting analysis is to determine the accuracy and quality of the information provided. This analysis would look into the degree of its accounting figures captures its business reality through the policies used and its resulting noise, potential forecast errors and its impact on Myer’s profit. A few critical areas which are vital to Myers business which includes credit losses, quality of net accounts receivable, inventory†¦show more content†¦This increase in flexibility would allow Myer to increase its accuracy in terms of the term it is used for. This could possibly explain the increase in depreciation in 2011 of 79443k compared to that in 2010 of 62705k. Intangible assets are one of the most significant items in Myers financial statement. It consists of goodwill, brand names and trademarks, software and leases. AASB 136 Impairment of Assets requires Goodwill and some of the brand names that are indefinite useful life to test for the impairment. In Myer, there is no impairment loss. Furthermore, the accumulated amortisations of the other intangible assets are shown in the table X have a total value of $73585 thousand. According to AASB 117 Leases, the total rentals leases over the leases term are being expensed on a straight-line basis. In contrast, Myer’s competitor David Jones has only two intangible assets goodwill and software. The accumulated amortisation for software is $28808 thousand which is shown in the table X and it is the total value of accumulated amortisation. David Jones does not included leases as part of their intangible assets but Myer does. This shows the different ways of recording accounting record between its competitors, and managers have an incentive to determine on the choice of recording items. This reflects business operation reflecting in its underlying business reality. Therefore, manager has higher chance to manipulate the accountingShow MoreRelatedAccounting Analysis On Financial Accounting1185 Words   |  5 PagesAccounting has many branches that it can be divided into. It can be divided into several areas of activities. Accountings main branches are financial accounting, Management accounting, Cost accounting, Auditing, Tax accounting, Accounting systems, Fiduciary accounting and Forensic accounting. Financial accounting: This branch of accounting measure’s and records the transactions of a business. Financial accounting focuses on the preparation of the five basic financial statements namely statementsRead MoreAccounting Analysis On Management Accounting Essay1210 Words   |  5 PagesManagement Accounting Introduction: Management accounting technique is the procedure of understanding, analyzing, exam, calculating, deciphers, and transfers the verbal data to chase of company objectives. The section of bookkeeping is called as cost accounting. The difference between the financial and managerial bookkeeping data is the goal at assist the administrators inside the corporation to create choice as per their situations. Even as economic bookkeeping is intended at giving data to gatheringRead MoreAccounting Analysis : Management Accounting2168 Words   |  9 Pages MANAGEMENT ACCOUNTING Author’s Name Course Name Professor’s Name Due Date MANAGEMENT ACCOUNTING Accounting is a way of measuring a business s financial performance through maintaining records and analyzing them. Financial accounting system produces reports that are generally intended for external stakeholders to evaluate a business. Management accounting is used to provide internal information that management uses in order to assess performance toward goals and objectives. FinancialRead MoreAccounting Analysis On Accounting Standards1911 Words   |  8 Pagesmainly focussed on the topic related to Accounting theory concept in general. There are two articles to elucidate, first article is on Accounting Standards conceptual framework, which is further discussed in detail about the qualitative characteristics of Conceptual framework. Second article is about Positive Accounting Theory, where we discuss about Accounting theories. A) Article One: 1) Australian Accounting Standard Board (AASB) AASB - Australian Accounting Standards Board Body charged with developingRead MoreA Cost Accounting System Analysis1046 Words   |  5 PagesA cost accounting system is a framework used by firms to estimate the cost of their products for profitability analysis, inventory valuation and cost control. Its goal is to advise the management on the most appropriate course of action based on the cost efficiency and capability. Cost accounting provides the detailed cost information that management needs to control current operations and plan for the future. Costing is essential for every organization, as every manufacturing and other departmentRead MoreAccounting Analysis On Accounting Standards1740 Words   |  7 PagesAccounting regulation is a complete set of theories that identified the economic, social and political factors that are related with the development of accounting principles and standards and to serve the best interest of societies. In 1930 and 1972 GAAP (Generally Accepted Accounting Principles) and SSAP2 were introduced to reduce the accounting scandal and control and regulate the accounting. Later in the year, FASB (Federal Accounting Standard Board) introduced conceptual framework to provideRead MoreAnalysis and Design of Proposed Accounting System1588 Words   |  7 Pagesby: Camero, Chana Paulene A. Hinoguin, Vanessa Bea P. Pagente, LJ Faith B. Suasin, James P. Submitted to : Miss Marianne Sy, Instructor CISB 32 -B SYSTEMS ANALYSIS AND DESIGN Accounting System Proposal SYSTEMS ANALYSIS AND DESIGN Accounting System Proposal SYSTEMS ANALYSIS AND DESIGN: ACCOUNTING SYSTEM PROPOSAL Four Queens Resort History/Nature of the Business Four Queens Resort is a 1,700 sq meter hotel and resort located at National Highway, Tuburan DistrictRead MoreOverview of accounting analysis1529 Words   |  7 PagesHOMEWORK 3: DISCUSSION QUESTIONS 1. A finance student states, â€Å"I don’t understand why anyone pays any attention  to accounting earnings numbers, given that a ‘clean’ number like cash from operations is readily available.† Do you agree? Why or why not? I disagree with the finance student, because net income forecasts future cash flow and is informative. a. Net income forecasts future cash flow better than current cash flow, and does so by recording transactions associated with cash consequencesRead MoreAnalysis Report On Management Accounting System1459 Words   |  6 PagesA management accounting system collects accounting information and converts the information to an analysis report in order to help managers make correct decisions and let stakeholders fully understand how the company runs. In another word, the main purpose of the management accounting system is assessing the company’s performance with the help of different measurements. Thus, management accounting system reform should be closely linked to performance measurement. The mostRead MoreManagerial Accounting Analysis of Concepts and Techniques4204 Words   |  17 PagesManagerial Accounting Analysis of Concepts and Techniques Managerial Accounting BUS 630 Managerial Accounting Analysis of Concepts and Techniques Introduction/Thesis Statement Managerial accounting is a concept used in businesses to manage internal systems. Understanding the importance of effective decision making, planning and control creates a foundation for value within the company on a more in depth level. Planning and controlling is measured by performance based on budgeting accounts

Friday, May 15, 2020

Jesus and Aristotle Dialogue - 1144 Words

Jesus Aristotle Dialogue Background: Aristotle is walking around Athens and observing nature and human behavior. In the corner of his eye, he sees Jesus on the Acropolis. Jesus is watching over Athens with olive branches in his long brown hair. Aristotle is startled by the Jesuss presence. Jesus: Hello Aristotle! Aristotle: Oh my Zeus! I didnt see you there, Jesus. Welcome to Athens; the most incredible city that has ever been constructed. Jesus: Thank you very much for your kindness and hospitality. Aristotle: The pleasure is mine. What brings you here today? Jesus: I would like to understand your views on the belief of another reality and the values of an ideal society and leader. Aristotle: In regards to the existence of ideal forms, there is nothing. It is necessary to understand the workings of the human mind and reason before believing that there is another world. (Loomis, xvii Intro) Jesus: That is pure ignorance, Aristotle. The ultimate reality lays in the hands of The Lord, my Father. He has full and absolute power. You cannot see Heaven or Hell, but both of those places are entirely real. After you die, you will understand. (Houlden, 8) Aristotle: Jesus, there are limits. I believe that the eye is made blue by the sky. Many things that occur in the Bible are mythical. It is impossible to create a universe in six days. It is also impossible for a man to split an entire sea. We must understand human behavior before coming to conclusions. OurShow MoreRelated Socrates Essay1261 Words   |  6 Pagesmodern science. In the course of Western Civilization, there have been two trials ending in a sentence of death imposed upon two individuals later deemed grossly unfair and unjust by the verdict of history. One trial was that of Jesus Christ, the other that of Socrates it was Jesus destiny, and It was Socrates choice. Both philosophers and theologians, carry a political message, a message apt to rub the ruling power structures nose in its own mess. Christ defined and built a new moral order. All SocratesRead More The Rise Of Christianity Essay1320 Words   |  6 Pagescombination of ingredients to appeal to both the masses and also eventually the ruling elite. Based on ancient scriptures, with a solid creation myth, its own collection of inspired writings, a convincing story about the appearance of God as a man (e.g. Jesus), a morality based upon personal maturity rather than harsh punishment, role models for both men and women, and a good organizational structure. Christianity was destined to grow to become the dominant religion. Greek philosophy was eventually extinguishedRead MoreThomas Hobbes And John Locke s Theory Of Social Contract Theory1449 Words   |  6 PagesInquisitor, and conduct an analysis of the relationships between the Grand Inquisitor and his subjects as well as Jesus and his followers. Using textual evidence and uncontroversial interpretations of the authors’ works, I will draw parallels between the Grand Inquisitor’s relationship with his subjects to Thomas Hobbes’ vision of social contract theory. Similarly, I will draw parallels between Jesus’ relat ionship with his followers to John Locke’s vision of social contract theory. I will provide a reasonableRead MoreA Leader Is An Intentional Process Of Growth1508 Words   |  7 Pagesaccording to what the leader displays. Furthermore, leaders serving as role models lead to follower identification (Kark et al. 2003; Pratt 1998). Leaders are expected to be beacons of morality (Bass, 2008). Aristotle believed leaders should be virtuous and demonstrate strong moral character (Aristotle, 2011; Solomon, 1992). Leaders should have uncompromising ethics. Trevino, Hartman, and Brown (2000) posits ethical leaders are both transformational and transactional, inspiring their followers to behaveRead MoreThe True Father Of Western Thought984 Words   |  4 Pagesbears the mark of the writer. Thus, Xenophon’s Socrates is more straightforward, willing to offer advice rather than simply asking more questions. In Plato’s later works Socrates speaks with what seem to be largely Plato’s ideas, but in the earlier dialogues—considered by historians to be the most accurate portrayal—Socrates rarely reveals any opinions of his own as he brilliantly helps his interlocutors dissect their thoughts and motives.One of the greatest paradoxes that Socrates helped his studentsRead MoreThucydide vs Plato on The Good Life Essay1927 Words   |  8 Pagesto indicate might makes right, at least in times of war. In conflict, acting from a position of strength may be the best route leading to the Good Life. A clear example exists when he recalls interaction between Athens and Melos in the Melian Dialogues. As we enter Thucydides chronicle, the Athenian army is squaring-off against the small island territory of Melos following Melian refusal to succumb peacefully to the larger, stronger force. Athenian leaders have dispatched representatives toRead MoreSocratic Creed vs. Platos Theory of Knowledge2206 Words   |  9 Pagesmind must be educated in every aspect. Socrates is one of the most well-known philosophers in the history of the world. His studies were based on passion; he truly did love wisdom. However, philosophy itself existed long before Socrates, Plato, Aristotle, and Descartes. Philosophers who studied before Socratic philosophy came about studied archà ©. Archà © simply means â€Å"stuff.† The focus of their studies was metaphysics, or the study of the physical world. They tried to define reality by studying physicalRead MoreCompare and Contrast Five Ethical Models Essay3163 Words   |  13 PagesIn their case the god of this world has blinded the minds of the un believers, to keep them from seeing the light of the gospel of the glory of Christ, who is the image of God. For what we proclaim is not ourselves, but Jesus Christ as Lord, with ourselves as your servants for Jesus sake,† (The Holy Bible). The deontological theory states that people should adhere to their obligations and duties when analyzing an ethical dilemma. This means that a person will follow his or her obligations to anotherRead MoreConcept of Beauty According to the Western Philosophers4706 Words   |  19 PagesSome of his dialogues are real literary masterpieces. On the other hand, he found the arts threatening. He proposed sending the poets and playwrights out of his ideal Republic, or at least censoring what they wrote; and he wanted music and painting severely censored. The arts, he thought, are powerful shapers of character. Thus, to train and protect ideal citizens for an ideal society, the arts must be strictly controlled. Plato had two theories of art. One may be found in his dialogue The RepublicRead MoreHumanities Test4641 Words   |  19 PagesA famous speech by Shakespeares Falstaff questions the value of: honor 1.   ( T or F ) Aristotle considered plot more important than character or thought. True 2.   ( T or F ) Aristotle was both a theater critic and a philosopher. True 3.   Aristotles famous analysis of tragedy is found in a work called: The Poetics 4.   Aristotles work on comedy is how long? 5 acts long 5. What did the Commedia dellearte specialize in? 6.   What is satire? a literary genre or form, although in practice

Wednesday, May 6, 2020

Metamorphosis Analysis - 1503 Words

John Maynard Keynes once said, â€Å"Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.† 20th century novelist, Franz Kafka would agree with such a statement as he strongly despised capitalism and its faults. In his celebrated short story, Metamorphosis, Kafka explores the cruelty and exploitations of capitalism through the eyes of Gregor Samsa. ironically, he also represents capitalism to further illustrate its barbarity. Kafka’s use of irony is significant for it leaves the readers confused and distraught, making them question the actuality of capitalism. Kafka (or Capitalism) is sympathetic to the proletariat. This includes Gregor and the charwoman†¦show more content†¦This means even the slightest of mishaps would leave us struggling to survive in the world. This cruelty is shown when the Chief Clerk pays a visit to Gregor’s apartment to accuse him of indolence. Mr. Samsa, what is wrong? You barricade yourself in your room, give us no more than yes or no for an answer, you are causing serious and unnecessary concern to your parents and you fail - and I mention this just by the way - you fail to carry out your business duties in a way that is quite unheard of. I m speaking here on behalf of your parents and of your employer, and really must request a clear and immediate explanation. I am astonished, quite astonished. (Kafka 1). This is the first time in fifteen years that Gregor has been late yet the clerk hyperbolizes the situation and goes on to say that Gregor could be fired. The capitalist world requires loyalty and is cruel because it doesn t empathize with anyone. The brutality of capitalism and its responsibility causes laborers to become more inhuman as they begin to isolate themselves whilst lacking compassion and mercy. Gregor’s transformation might be physically unpleasant but he is stripped from the burden of responsibi lity. Kafka is sympathetic to Gregor by turning him into a bug who is excused from working in the cruel world of capitalism. The charwoman who is introduced later in the story also exemplifies the savagery acquired from capitalism. The charwoman is hired to take care of the heavy work aroundShow MoreRelatedAnalysis Of The Metamorphosis1501 Words   |  7 PagesBeveridge, A. (2009). Metamorphosis by Franz Kafka. Advances in psychiatric treatment, 15(6), 459-461. This brief article is written from the psychiatric perspective, pointing out that Kafka has always been of great interest to the psychoanalytic community; this is because his writings have so skillfully depicted alienation, unresolved oedipal issues, and the schizoid personality disorder and The Metamorphosis is no exception to this rule. While this writer tends to think that psychiatrists shouldRead MoreAnalysis Of The Metamorphosis 854 Words   |  4 PagesAnalysis of the Metamorphosis The Metamorphosis can be analyzed in many different ways. One way that could be looked into is why exactly Gregor is turned into an insect. There are many things that he could have changed into, like a monkey or a bird for example. But Kafka makes it obvious that Gregor is a bug although he never says what kind. Bugs can be, more or less, controlled, considered useless, and gross. To call a person a bug means they can bend easily to another’s will and are expendableRead MoreAnalysis Of Metamorphosis826 Words   |  4 Pages Metamorphosis, written by Franz Kafka, is a novelette detailing the life of a young man named Gregor and his family, which include his sister, Grete, and his parents. Gregor is a traveling salesman who has an overbearing manager and extremely long hours. He is unhappy with his job due to these circumstances and the fact that he is not able to make any friends. One morning Gregor wakes up and is suddenly a beetle instead of a normal human. The life of everyone in the household is flipped upsideRead MoreAnalysis Of The Metamorphosis Essay1390 Words   |  6 Pagesan attempt to distance oneself from an undesirable event or occurrence. It can also range from an overt set of actions as a person is changed, to willful ignorance, malicious or otherwise, of an individual’s dreams or goals. Franz Kafka’s â€Å"The Metamorphosis†, in which the main character, Gregor Samsa, awakens to find himself changed, contains several obvious examples of this dehumanization. He has become vermin of some kind, no longer even human. Deprived even of basic human form, and transfiguredRead MoreLiterary Analysis Of The Metamorphosis 1422 Words   |  6 PagesElaina Faerber, Hannah Lindsey, Jake Sims Mrs. De Oro Hon, English 12A Pd 3 19 October 2015 Literary Analysis Essay-Rejection When individuals are rejected by family and society, they tend to feel abandoned and unloved. In Franz Kafka’s, The Metamorphosis, Gregor’s transformation into a â€Å"monstrous vermin† (Kafka 1) results in him being psychologically and even physically abused by his family. Rejection from his mother, sister, and father leave Gregor feeling unwanted and feeling as if he is a terribleRead MoreMetamorphosis Analysis1761 Words   |  8 PagesFranz Kafkas The Metamorphosis is so strikingly absurd that it has engendered countless essays dissecting every possible rational and irrational aspect of the book. One such essay is entitled Kafkas Obscurity by Ralph Freedman in which he delves down into the pages of The Metamorphosis and ferrets out the esoteric aspects of Kafkas writing. Freedman postulates that Gregor Samsa progresses through several transformations: a transformation of spatial relations, a transformation of time, and aRead MoreThe Metamorphosis Character An alysis1193 Words   |  5 PagesSometimes the people that you love and care for the most are the ones who will send you to your breaking point. Betrayal could quite possibly be the most hurtful action you can take towards someone. Throughout the novella, The Metamorphosis by Franz Kafka, Gregor goes through a traumatic transformation only to find his family turn their backs on him and send him to his demise. This story can be looked at in a few different ways.(Connect these sentences) One of which is that Gregor literally turnedRead Moreâ€Å"Analysis of Metamorphosis by Franz Kafka938 Words   |  4 Pagesâ€Å"Metamorphosis† is an absurd novella written by the careful and self-conscious writer, Franz Kafka and narrated in third person omniscient by an anonymous figure who tells the story of protagonist Gregor Samsa in a neutral tone. The story was published in 1915 and is primarily about the effects of Samsa’s transformation into a large and monstrous bug. Kafk a’s use of irony, symbolism and, major themes make a strong impact. The story takes place in a room of an apartment with no definite historicalRead MoreAnalysis Of Kafka s The Metamorphosis 1166 Words   |  5 Pagesresides in his ability to transform his private torment into universal fables. Much of Kafka s early writing is lost, but 1912 proved to be a breakthrough year for him as he wrote some of his most important stories, including The Judgment, the metamorphosis, and much of his novels. This was also the year when Kafka met Felice Bauer, to whom he was engaged (and disengaged) twice over the next five years in a storm of letters with extremely little physical interaction. His belief in the importanceRead MoreAnalysis Of Kafka s The Metamorphosis 989 Words   |  4 PagesRalph Freedman’s critical essay titled â€Å"Kafka’s Obscurity† on Franz Kafka’s The Metamorphosis delves into the idea that from changes in the protagonist’s physical limitations, familial bonds, and his being â€Å"[he] is finally reduced to a mere speck of self-awareness which is ultimately extinguished† (Freedman 131). General questions of â€Å"why† and â€Å"how† are almost immediately dismissed due to the calm and monotonous tone that Kafka implements throughout the novel. Instead, the reader is encouraged to

Tuesday, May 5, 2020

Project Management Creating Innovative Method

Question: Discuss about the Project Management for Creating Innovative Method. Answer: Introduction Project management in the engineering and construction domain might vary according to the projects (Ghauri and Grnhaug 2010). In case construction is required to be done in some park, then a creative team is needed, if the project is related to building individual malls, and even a team of civil engineers is also required (Dainty 2006). In the present time, every organization tries to manage the projects with an individual specialization. In the case of Engineering and Construction Company, it can specialize in building sky capers, bungalow, malls, parks, theaters, etc (Ghauri and Grnhaug 2010). Project management area of the project is referred as structure, which is designed purposely, to execute the projects (Dainty 2006). It is mainly modified for reaching the demands of challenging tasks through separating the different work and for maintaining the firm emphasis on meeting the project (Ghauri and Grnhaug 2010). Once the project gets completed, this structure got disbands. Although this similar structure is expected to be good, while managing the resources throughout the project life (Ghauri and Grnhaug 2010). This section also depicts the requirements and techniques required during project planning of building main switchboards at rail centre (Dainty 2006). While planning in this case, it will be necessary to include forecasting, cost estimation, economic evaluation, and risk assessment. It includes the division, in which design and planning phase will include critical capital savings (Ghauri and Grnhaug 2010). The primary responsibilities might get procured at the time of construction and operation phase evaluation (Ghauri and Grnhaug 2010). The primary responsibilities related to project manager might get different as per the size of the company, maturity of the enterprise, the industry as well as the culture of the enterprise (Dainty 2006). However, there are certain mandatory responsibilities, which are similar in the project management company (Ghauri and Grnhaug 2010) Role of project management methodology in engineering and construction domain The project management consultancy includes many functions, which are played during the process of construction (Ghauri and Grnhaug 2010). Engineering and construction projects require advantages to the customers in the context of satisfaction, and it includes profits, business development, utilization of a resource, etc. as this consultancy plays a multifaceted role in the project construction, it mainly includes the project through the inception of the project towards its completion stage (Ghauri and Grnhaug 2010). It is crucial to analyse the project management authority altogether. While doing this, it ensures that consultancy could be maximized completely for every construction and engineering project (Ghauri and Grnhaug 2010). Projects are managed by the project managers, and the same is supervised through the construction managers, along with their team of building engineers, design engineers and architect (Ghauri and Grnhaug 2010). Efficiency within the management is required to gain the high competitiveness level (Ghauri and Grnhaug 2010). During the period of construction, the emphasis is placed on the building and completing the projects, having less consideration over the quality and cost (Ghauri and Grnhaug 2010). The important portion of the budget is allocated for building various facilities; therefore, money was never a problem in charitable funds (Ghauri and Grnhaug 2010). Similarly, expertise in the area of developing and managing big projects is quite less, and standard methods of project management are also required to be implemented (Ghauri and Grnhaug 2010). Recently, this mentality is getting change. Awareness of the requirement within the controllable industry in the context of quality, cost and time had enhanced (Ghauri and Grnhaug 2010). Customers require to have some change, and they do not demand to have a fast project completion (Ghauri and Grnhaug 2010). They even demand to have high-quality standards as well as cheap execution (Ghauri and Grnhaug 2010). It is noted that end of the project is augmenting as more and more companies are penetrating the market. This shift in the industry nature demands to implement the methodology of effective project management (Ghauri and Grnhaug 2010). It is important to mention that different factors related to the construction sector are own towards high risk associated with the project (Stackpole 2013). Projects include large amount related to finance and employees, as it holds adverse social and financial effect over complete stakeholders (Gould and Joyce 2009). Many types of research had noted that the analysis and decisions are taken within the construction industry traditionally rely on the judgment, intuition, and experience, and never deny the facts that decisions require to be taken urgently (Ghauri and Grnhaug 2010). As project management is rapidly increasing in the 21st century, this subject had moved towards the discipline concept, which is practiced towards gaining competitive advantage in the global marketplace (Gould and Joyce 2009). Researchers are required to improve the project management practices (Highsmith 2009). Various methodologies are used, due to the time and research investment emphasizing over project management (Ghauri and Grnhaug 2010). In the year 1969, project management institute was explored, and they set the association, in which professionals from project management all over the world collaborate with the project management practices (Gould and Joyce 2009). PMI had developed the guide for project management body of knowledge (PMBOK), which is an accessible guide related with PMI standards for all the project managers all over the world (Foxhall 1976). The PMBOK guide is not considered as methodology; rather it tries to promote different elements, which should be included in proper methodology (Gould and Joyce 2009). These areas are projected scope, integration, project quality, cost, time, communication, risk, and human resources and procurement (Ghauri and Grnhaug 2010). More details of the areas are included in methodologies, but this guide also advocates about all projects, which are included in project life cycle, including planning, initiating, closing and executing (Gould and Joyce 2009). Through the temporary nature of the project, use of project life cycle is advantageous in adhering with the time issues, provided at the upper level of management (Joy 1994). Relying on the industry, and sometimes companies in industries make use of lean, which also undergoes various names (Ghauri and Grnhaug 2010). Lean development and lean production are considered as two examples of lean construction, and this name is same as construction industry that is originated through the manufacturing sector (Gustavsson 2011). Through the application of lean principles in engineering and construction domain, it permits to design both the process and products of production (Ghauri and Grnhaug 2010). The construction scheduling is quite reliable when its shifted from the enhanced productivity towards various workflow of a system for creating work for the employees (Milosevic 2003). As compared to the review and analysis of the traditional approach, it integrates with the starting stage, and it also involves a broad range of specialist (Khanna 1999). The project management approach of agile was also same as it includes lean philosophy and various similarities towards two philosophies (Ghauri and Grnhaug 2010). The key difference among the agile and lean is that agile includes tested methods of working and includes special tools that aid the user in adopting the philosophy (Gustavsson 2011). The lean concept was mainly originated through the production industry, in which Toyota tried to develop the Toyota production system, and currently, its known as lean production (Gustavsson 2011). The lean principle is however applied to all business, and it also results in an improvement. The key principle related with lean thinking is to explore and minimize the waste. All the activities, people and time that fails in adding value are deleted (Ghauri and Grnhaug 2010). When trying to explore whats wasted in business, one can understand what values are required for nay business (Ghauri and Grnhaug 2010). The next step relates with explaining the activities and resources are needed to produce that similar value (Hass 2007). It might go wasted if one fails to work in a different way or it can be lost if it fails in adding value. While implementing the lean approach, the organizational structure emphasizes over value flow, as compared to functional expertise, which is also termed as traditional structure (Young 2013). The second principle related to lean thinking is to centre all employees that try to add value. For instance, the project consultants in rail centre work to design the construction of switchboard. For the purpose of doing the work effectively, it requires proper training and apprenticeship as well as up gradation of skills (Ghauri and Grnhaug 2010). As a group, they will develop the process and even manage the entire issues (Poppendieck 2002). Their managers serve the aim of supporting the team, instead of telling them what they have to do. The third principle related with lean thinking is the value flow from the demands. It implies that one can quickly produce according to forecasts, only when its demanded (Chitkara 2000). The term pull is also mainly used for explaining the value flow, and it should be removed when demand is placed, that implies that one needs to be committed before the existence of order (Poppendieck 2002). One of the main advantages of lean thinking is that there are no hidden issues that might come later and place stress and pressure over the project (Kogon, Blakemore and Wood 2015). While using lean, one dont forecast the future, but they constantly try to expose the issues and solve them quickly (Poppendieck 2002). The fourth principle optimizer in the companies. All these principles mean that, one fails in sub-optimizing the company nor does various performance measurement for different departments, Instead of that lean thinking mention that one need to structure the company around the value flow and then organize the teams and departments, so that they could easily maintain the responsibility related to complete business value (Poppendieck 2002). It implies that one could skip the standard measurements and ensure that everyone understands the significance of total market value and not particular to department value. Another way of handling the issues is to consider the downstream Department of clients, and middle management of performance is the satisfaction of internal department of the company (Segerfeldt 2002). The principles discussed includes the similar aim of streamlining the value chain and for enhancing the outcome (Ghauri and Grnhaug 2010). To improve something one requires to include something for improvement (Gould and Joyce 2009). At Toyota, they had made standardization towards working methods, which is a crucial part of any company (Tonnquist 2006). The process of standardization acts like the source for bringing innovation, improvement and employees development. Without having such standardized manner of working, it can become challenging, and it might become impossible to enhance the methods of working (Tonnquist 2006). Trying to improve the process could define and standardized and helped in generating various versions of standard methods of working (Ghauri and Grnhaug 2010). Similar to the agile approach, the small incremental deliveries are developed during the project, instead of at the beginning (Harrison and Lock 2004). It can sometimes lead to a problem as the client prefer to know, what they are paying for (Winch 2010). Therefore, lean enterprises sometimes face issues and the structural contracts which they support in pre-defining the incremental deliveries and guarantee that business values will be handled as per the investment (Tonnquist 2006). Conclusion Project management consultants tries to manage the project through apply knowledge, experience, and skills at different stages. However, projects go through various challenges such as designing issues, long lead material problems, constructability problems, safety problems, Inter contractor coordination problems, and engineering problems. All these problems could be tackled through applying proper approach related to project management. It also includes including different tools associated with higher management such as round table progress review, reporting, conducting sessions of brainstorming, imparting training in various fields, designing the interface of construction, regular quality audits, delivery and quality diligence sessions within the team. Along with this, project management methodologies are quite efficient and effective only in the case when total project life cycle is involved. Awareness about the different process involved in project management of switchboard at rai l center is important, as it might include many constraints like cost, time, scope, risk, and quality of resources. References Chitkara, K. K. 2000. Construction Project Management, Second Edition. New Delhi: Tata McGraw Hill Pvt Ltd. Dainty, A. et al. 2006. Communication in Construction. Abingdon, Oxon: Taylor Francis. Foxhall, W. 1976. Professional construction Management and project administration. New York: Architectural Record and the American Institute of Architects Ghauri, P., and Grnhaug, K. 2010. Research Methods in Business Studies. Fourth Edition. Edinburgh Gate, Harlow: Pearson Education Limited. Gould, F., and Joyce, N. 2009. Construction Project Management. Third Edition. New Jersey, USA: Pearson, Prentice Hall. Gould, F., and Joyce, N. 2009. Construction Project Management. Third Edition. New Jersey, USA: Pearson, Prentice Hall. Gustavsson, T. 2011. Agil projektledning. First edition. Stockholm, Sweden: Sanoma Utbildning AB. (Authors translation of the title: Agile Project Management) Hass, K. B. 2007. The Blending of Traditional and Agile Project Management. PM World Today, 9(5), pp. 1-16. Joy, P. K. 1994. Total Project Management, Second Edition. New Delhi: Macmillan India Limited. Khanna, O. P. 1999. Industrial Engineering and Management Revised Edition. New Delhi: Dhanpat Rai Publications Poppendieck, M. 2002. Principles of Lean Thinking. Eden Prairie, MN, USA: Poppendieck. LLC Segerfeldt, C-H. 2002. Ledarskap stavas kommunikation. Edition 1:1. Malm, Sweden: Liber AB. (Authors translation of the title: Leadership is spelled Communication) Tonnquist, B. 2006. Projektledning. Second edition. Stockholm, Sweden: Bonnier Utbildning AB. (Authors translation of the title: Project Management) Winch, G. M. 2010. Managing Construction Projects. Second Edition. Chichester, West Sussex, UK: Wiley-Blackwell. Young, T. L. 2013. Successful Project Management. Kogan Page Publishers Kogon, K., Blakemore, S., and Wood, J. 2015. Project Management for the Unofficial Project Manager: A FranklinCovey Title. BenBella Books, Inc. Stackpole, C. S. 2013. A Project Manager's Book of Forms: A Companion to the PMBOK Guide. John Wiley Sons Highsmith, J. 2009. Agile Project Management: Creating Innovative Products. Pearson Education Harrison, F. L., and Lock, D. 2004. Advanced Project Management: A Structured Approach. Gower Publishing, Ltd. Milosevic, D. Z. 2003. Project Management ToolBox: Tools and Techniques for the Practicing Project Manager. John Wiley Sons

Monday, April 13, 2020

Tender of Performance Essay Example

Tender of Performance Essay Parijat Mishra of BBA LLB (A), 1st Semester, under roll number 1282060, am highly grateful to my teachers Mr Puranjoy Ghosh and Ms Jinia Kundu for their untiring help and encouragement during the course of my project titled Tender Of Performance. I highly acknowledge, with deepest sense of gratitude and indebtedness, the coordination and support I received throughout the course of work. Thank You Parijat Mishra) Roll No. 1282060 Contents Sl. No| Topic| Page No. | 1| List of Abbreviations and Cases| 1| 2| Introduction| 2| 3| Significance of Tender Of Performance| 3| 4| Relevance in Indian Contract Law| 4| 5| Relevant Case Summaries| 5| 6| Conclusion| 6| 7| Bibliography| 7| List of Abbreviations and Cases No significant abbreviations have been used in this project. The list of cases referred in the project and some basic definitions are provided below. Cases referred (with citation) : * Startup v MacDonald (1843) 6 Mann amp; G 593 Planche v Colburn   [1831] EWHC KB J56 Kings Bench Division * Cutter v Powell [1795] EWHC KB J13 Definitions of some basic terms used (Extracted from the Indian Contract Act, 1872) : * Proposal :- When one person signifies to another his willingness to do or to abstain from doing anything, with a view to obtaining the assent of that other to such act or abstinence, he is said to make a proposal. * Promise : When a person to whom the proposal is made, signifies his assent thereto, the proposal is said to be accepted. A proposal, when a accepted, becomes a promise Promisee and Promisor : The person making the proposal is called the promisor, and the person accepting the proposal is called promisee * Contract : An agreement enforceable by law is a contract Introduction The phrase Tender Of Performance can be defined as follows An offer or attempt to do what is required under a contract or under the law. However, to completely understand the meaning and scope of the term, we require some more data and analysis. Firstly, we need t o understand the meaning of the word tender.It can be defined as an offer to do or perform an act which the party offering, is bound to perform to the party to whom the offer is made. Performance refers to the fulfilment or accomplishment of a promise, contract, or other obligation according to its terms. From the definitions mentioned above we can clearly infer that tender of performance refers to being ready to perform a contract. Performance can be actual as well as attempted. If one party offers to perform his promise under the contract, it is called tender of performance.In this project, the importance/significance of tender of performance and its relevance in Indian Contract Law will be observed. Additionally, we will be looking at some important cases which helped establish the principles of the given topic. Significance of Tender of Performance In almost all laws relating to contract, a valid tender of performance is equivalent to actual performance. So, it should be necess ary to properly establish what can be considered as tender of performance. Essential Requisites of a Valid Tender : 1. Unconditional The tender should be unconditional, i. e. made in accordance with the terms of the contract. There should be no new or conflicting conditions present. 2. Whole Obligation An offer to perform the promise in part will not be considered a valid tender. Apart from some exceptions (If tender in instalments is allowed in the contract), there has to be the whole obligation for a valid tender. 3. Made At a Proper Time And Place If any fixed time and place is mentioned in the contract, then the tender of performance has to be made at that time. If nothing such is mentioned, then the tender of performance must be done at a reasonable and proper place and time. . Made To The Proper Promisee The tender has to be made to the proper promisee. Tender made to an authorised agent would be valid but tender made to a stranger would obviously be invalid. 5. Reasonabl e Opportunity It should be provided to the promisee to inspect the quality and quantity of the type of goods agreed upon and to satisfy himself that they are according to the terms of the contract. Two more essentials can also be considered : 6. Person Giving Tender Must be Willing to Perform The person giving the tender must be willing and capable to perform the whole of what he was bound by the contract to do. . Tender Of Money Tender of money should always be made in the legal tender money and not in any other form If these essentials are fulfilled then one can safely conclude that a tender of performance has been made. Once the promisor makes a valid tender of performance, it is then for the promisee to accept the performance. If the tender of performance is rejected by the other party, the promisor is not responsible for non-performance and is entitled to sue the promise for breach of the contract.Relevance In Indian Contract Law The Indian Contract Act, 1872, recognises te nder of performance and its important role in Contract Law. Section 38 mentions situations when tender of performance is not accepted by the promisee. It states 38. Effect of refusal to accept offer of performance Where a promisor has made an offer of performance to the promisee, and the offer has not been accepted, the promisor is not responsible for non-performance, nor does he thereby lose his rights under the contract.Every such offer must fulfill the following conditions (1) it must be unconditional; (2) it must be made at a proper time and place, and under such circumstances that the person to whom it is made may have a reasonable opportunity of ascertaining that the person by whom it is been made is able and willing there and then to do the whole of what he is bound by his promise to do; (3) if the offer is an offer to deliver anything to the promisee, the promisee must have a reasonable opportunity of seeing that the thing offered is the thing which the promisor is bound b y his promise to deliver.An offer to one of several joint promisees has the same legal consequences as an offer to all of them. Section 38 basically implies that the promisor has the right, after such situation occurs, to terminate the contract and claim damages. The promisor can also still demand performance instead of termination. However, many commentators have stated that the promisees refusal of money as opposed to goods and services does not discharge the debtor from its obligation to pay. It is observed from the facts that the position of Indian Contract Law regarding tender of erformance is very similar to that of European Law and International Law principles. Relevant Case Summaries Many significant cases around the world helped shape the principles of performance and tender of performance. Some of them are mentioned below. 1. Startup v MacDonald A contract stated that 10 tons of oil were to be delivered to the defendant within the last 14 days of March. The claimant del ivered the oil at 8. 30pm Saturday March 31st. The defendant refused to accept the delivery because of the lateness of the hour. Held:The claimant had tendered performance within the agreed contractual period and was thus entitled to damages for non acceptance. 2. Planche v Colburn The claimant agreed to write a book on costume and armour for the defendant as part of a series called the Juvenile Library. The agreed contract price was ? 100 to be payable on completion. The claimant commenced writing and had completed a great deal of it when the defendant cancelled the series. The defendant refused to pay the claimant despite his undertaking and the fact that the claimant was still willing to complete. The claimant brought an action to enforce payment.Held: The claimant was entitled to recover ? 50 because the defendant had prevented the performance. 3. Cutter v Powell The claimants husband agreed by contract to act as a second mate on the ship the Governor Parry on a return voyage to Jamaica. The voyage was to take eight weeks and he was to be paid on completion. A term in the contract stated: Ten days after the ship Governor Parry, myself master, arrives at Liverpool, I promise to pay to Mr. T. Cutter the sum of thirty guineas, provided he proceeds, continues and does his duty as second mate in the said ship from hence to the port of Liverpool.Kingston, July 31st, 1793. Six weeks into the voyage the claimants husband died. The claimant sought to claim a sum to represent the six weeks work undertaken. Held: The wifes action failed. Payment was on condition that he worked the ship to Liverpool, since he did not fulfil this condition the widow was entitled to nothing. Conclusion Compared to other similar concepts in Contract Law, tender of performance cannot be considered as a huge and/or complicated idea. It is a simple theory which is followed universally almost in the exact same manner.It is simply an offer to perform, which has to be unconditional, and if re jected, can lead to termination of a contract. Someone with a basic grasp of Contract Law and its function would easily be able to understand this concept. It is very important to consider tender of performance as something equivalent to performance. This has both legal and moral reasons. Legally, one has to look at a situation from all possible angles. So, the principles regarding offer to perform should exist along with normal performance.From a moral viewpoint, it is observed that there may be a lot of problems faced by the society if only full performance of obligations is considered. It may lead to chaos, and fewer contracts being formed, which would break down society bit by bit. This view may sound alarmist, but it is firmly placed in logic. Therefore, in conclusion, tender of performance is a short but important aspect that should be taken into consideration while framing rules for contract formation. Bibliography * Books Referred 1. Arun Kumar, Mercantile Law (Atlantic Publ ishers amp; Dist, 01-Jan-2002) 2.Purnakam Dash, Business Regulatory Framework (Pearson Education India, 2012, First Edition) 3. Lars Meyer, Non-Performance and Remedies under International Contract Law Principles and Indian Contract Law, Peter Lang, 07-Dec-2010 * Websites Referenced 1. Juridical Dictionary (http://www. juridicaldictionary. com/Tender_of_performance. htm), accessed on 30/09/2012 2. Legal Dictionary The Free Dictionary (http://legal-dictionary. thefreedictionary. com/tender), accessed on 30/09/2012 3. Government Of India Online Business Resource (http://business. gov. n/legal_aspects/contract_law. php), accessed on 01/10/2012 4. Case Summaries from E-Law Resources (http://www. e-lawresources. co. uk/Discharge-through-performance. php), accessed on 01/10/2012 * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * [ 1 ]. Juridical Dictionary (http://www. juridicaldictionary. com/Tender_of_performance. htm ) [ 2 ]. Legal Dictionary The Free Dictionary (http://legal-dictionary. thefreedictionary. com/tender) [ 3 ].Arun Kumar, Mercantile Law (Atlantic Publishers Dist, 01-Jan-2002), Pg 142 [ 4 ]. Purnakam Dash, Business Regulatory Framework (Pearson Education India, 2012, First Edition), Pg 40 [ 5 ]. Government Of India Online Business Resource (http://business. gov. in/legal_aspects/contract_law. php) [ 6 ]. Lars Meyer, Non-Performance and Remedies under International Contract Law Principles and Indian Contract Law, Peter Lang, 07-Dec-2010, Pg 64 [ 7 ]. E-Law Resources (http://www. e-lawresources. co. uk/Discharge-through-performance. php) [ 8 ]. (1843) 6 Mann G 593

Wednesday, March 11, 2020

Marketing Communications The WritePass Journal

Marketing Communications Introduction Marketing Communications ). This paper intends to address several issues that relate to the changes and developments taking place in the business environment. It presents an analysis or opportunities and threats that companies like Yahoo and Google face in relation to the rapid technological advancements. It also addresses the appropriate communication approaches that companies should use to facilitate internal and external communication and the communication mix that is used at Apple to market itself to its target clients. In relation to this, the report presents an analysis of a communication campaign used by Nike, a leading sports’ equipment and apparel manufactures in the UK, to establish how effective it is in attaining its marketing objectives. Opportunities and Threats for Google and Yahoo in regard to rapid technological changes Google and Yahoo are some of the well renowned internet-based companies that offer search engine and e-mail services to a wide range of users. Both companies also deal in software development. Based on the services and products offered by these companies, they are directly affected by technological advancements, especially in the ICT sector (Segev Ahituv, 2010). The opportunities and threats that these advancements expose the companies to are discussed in this section. Opportunities There are several opportunities presented to these companies as a result of technological advancement. One of these is that it provides a wide range of avenues through which the companies can communicate with their clients and vice versa (Hundal Grover, 2012). It also provides increased avenues through which the companies can market their products. Technological advancements in the ICT sector across the globe have also led to an increase in internet accessibility. For Yahoo and Google, an increase in internet accessibility provides an opportunity for them to earn more revenue through advertisements (Shih et al., 2013). This is because they are among the most visited websites internationally. Google is ranked as the most visited website, while Yahoo is ranked the fourth (Alexa, 2014). Being business oriented, technological advancement will also make it possible for them to market their products and services to a wider market base through strategic marketing communication strategies. It also provides an opportunity for them to launch e-commerce strategies, which are cost-effective for the company and convenient for clients. Among the advancements that have taken place is the development and increased use of smartphones (Persaud Azhar, 2012). Given that both companies deal in software development, it provides an opportunity for them to create revenue from developing applications that can be used on these devices. Google has effectively taken advantage of this advancement and has developed the Android operating system (Gandhewar Sheikh, 2011). The fact that its operating system is compatible with many mobile devices like manufactured by different companies like Samsung and LG increases its usability. With the growing number of global populations using smartphones, the company has a lot to benefit as Android is among the top smartphone operating systems (Butler, 2011). Threats With the increase in the technological advancements in the market, these companies are also exposed to a range of threats (Lovelock Wirtz, 2011). One of these is the increase in competition from other companies that provide the same products and services. With internet companies like Twitter and Facebook having a growing number of users, they provide a threat for Yahoo and Google in terms advertising revenues (Lagrosen Josefsson, 2011). There is also a possibility of other internet based companies coming up to provide stiffer competition. In the software business, Google’s Android operating system faces a threat from Apple’s iOS, if it decides to adjust it and make it compatible to other devices (Butler, 2011). Other technology companies may also come up with more innovative products and better marketing approaches than Google and Yahoo, which might reduce their current market shares. Another threat that is associated with technological advancements is posed to the human resources of these companies. Employees face the risk of losing jobs because a wide range of jobs that were initially handled by people can now be done even better by machines (Lovelock Wirtz, 2011). Even though this might come as a relief for these companies as they cut salary costs, the fact that these advancements may increase unemployment undermines the social responsibility efforts that these companies may have. The increase in technological advancements also increases the levels of cyber crime. Even though the systems of Yahoo and Google may be secure from this risk, given that they have measures in place to address this issue, clients who have opened email accounts with them may not be as secure. Hackers may gain access to their emails, obtain their personal information and use it against them. Even though such cases might occur as a result of low email security measures by the user, some of them tend to blame the email hosting companies like Yahoo or Google as being the reasons for their predicaments. As a result, this ruins the reputation of these companies. Communication at Google Internal and external communication Communication is among the aspects of a business that are paramount to its success. Internal communication refers to the passing of messages or information within the organization. This could be within the same department or interdepartmental communication (Wright, 2012). External communication refers to the communication that goes on between the organization and external stakeholders, who mainly comprise of customers. When carrying out internal communication, there are several factors that have to be considered. For instance, the messages ought to be confidential to avoid access from external parties. In this case, Google has a company intranet, which consists of an internal message board and email system (Goodman, 2006). This can only be accessed by company employees who have been allocated usernames and passwords. These channels of communications have been highly secured, making it impossible for an external party to access the information or messages passed. Internal communication in organizations also has to be effective and quick. For Google, this is facilitated by the fact that it has a horizontal communication structure. According to Butler (2010), horizontal or lateral communication is the free flow of information or messages across different functional groups in the organization. Employees and managers across all departments and employee levels at Google interact freely without any hierarchical boundaries (The Financial Express, 2005). This approach to communication enhances cooperation among employees and also quickens the process of resolving conflict. On the contrary, it reduces the authority of departmental heads in the organization. External communication is meant to promote products or services offered by the company, or to advertise its clients’ products to a wide range of customers (Wright, 2012). It can also be meant to engage with customers with the aim of making them feel like they are part of the organization. Depending on the aim that is to be met by external communication, there are several measures that can be used. One of the most effective tools that the company uses to accomplish this is through its website. Based on the fact that its website is the most visited in the world, there is a high level of surety that it will communicate to a wide audience (Segev Ahituv, 2010). Even with the high number of visits on the company’s website, many customers who may be targeted by the messages might not be among the website visitors. Thus, another alternative option that the company uses is through sending e-mail messages directed to certain clients that could be interested in the goods or servi ces of the company. In 2012, the company spent over $231 million in marketing its products, which include the Google+ social media platform, Gmail and the Google Chrome web browser (Efrati, 2012). Market communication theories relevant to the communication strategy There are several marketing communication theories that can be considered as being relevant to the communication strategies utilized at Google. One of these is the heightened appreciation model (Dahlen et al., 2010). It is based on the fact that companies need to carry out consumer market research to establish the key attribute that attracts consumers to a brand. Market communication strategies are then designed to link the identified attributes of the product or service to the brand (Fill Hughes, 2013). For instance, in the advertisement of its Google+ service, the company is aware of the need for people to interact and share instant messages and videos on social media. Google then links this need in the market to Google+, encouraging more clients to subscribe. Another model that can be used to represent the market communication strategies at Google is the advertising exposure model. This model suggests that advertisement objectives can only be met if it created five effects to the target consumer (Fill Hughes, 2013). These effects are; creation of awareness, conveying messages about the positive attributes of the products, generation of feelings among the target audiences towards the brand, creating a brand personality and triggering purchase intentions (Dahlen et al., 2010). This model also relates to the advertisement efforts that have been implemented by Google as it markets a wider range of its products. The AIDA model can also be used in explaining marketing communication. It is regarded as one of the oldest and most popular market communication models. This model states that there is a hierarchy of events that have to occur for a marketing communication strategy to be termed as having been successful. In chronological order, these are attention, interest, desire, and action. After the attention of the target clients have been drawn, marketers are required to raise their interest in the products or services being advertised through highlighting their advantages. After this has been done a sense of desire is created in the clients by providing them with the assurance that the products or services will satisfy their needs. This will trigger action from the buyer, which is demonstrated by making the purchase. At Google, this model has been widely used, especially when it spent approximately 231 million to market its products in 2012 (Efrati, 2012). However, this model has received crit icism for being out-dated and irrelevant for the present market environment. The Communication Mix of Apple The communication mix is referred to as the specific approaches that are used by companies to promote their services or products to their target customers. There are five elements that make up a communication mix. These are discounts and promotions, public relations, direct marketing communication, advertising and personal selling (Wright, 2012). At Apple, the marketing mix element that is mainly used is direct marketing communication. This approach involves interactive communication with the aim of seeking a certain response from the target audiences. With reference to the recent development at Apple when it was preparing to acquire PrimeSense, an Israeli 3D chip developer, it was vital for the company to inform its external and internal stakeholders or the impending acquisition (Velazco, 2013). Some of the approaches that the company could use to pass this information include direct email communication, social media interaction with its clients and through its website. The company has maintained a large customer data base that contains the contacts of its customers and other Apple stakeholders (Wright, 2012). This also makes it easy for the company to pass such vital information directly to its customers and other external stakeholders. Internal stakeholders, who mainly comprise of employees, can be formally informed through circulation of a memo or posting the message on internal communication platforms. Importance of Cross-functional communication Cross-functional communication is applicable within the organization. It is referred to as the communication among people from different departments or functional groups in the organization (Shimp Andrews, 2013). The importance of cross-functional communication that is beneficial to Apple Inc is the fact that it enhances cooperation within the organization as different teams work towards attaining the same organizational goal. Encouraging cross functional communication also promotes awareness of whatever is taking place across the entire organization, which eliminates cases of ignorance of misinformation. Some of the challenges that are associated with ineffective cross-functional communication in organizations include the failure for members of certain departments in the organization to appreciate or recognise the contributions made by other departments (Diefenbach Todnem, 2012). This may result to destructive rivalry that may affect the attainment of organizational goals adversel y. In a scenario where Apple might plan to acquire another company, cross-functional communication enables all the departments to be equally ready for any changes or additional responsibilities that may arise after the acquisition (Diefenbach Todnem, 2012). Analysis of an integrated Marketing communications campaign Marketing communication campaigns are defined as strategies that are implemented by organizations with the aim of increasing market awareness about their products or services. This is usually with the aim of increasing the purchasing intentions of the target audience. According to (Bergemann Bonatti, 2011), ideal integrated marketing communication strategies effectively coordinate all product promotional messages to ensure that they are all consistent. This section presents a market communication campaign that was launched by Nike, a company that deals in the manufacture and distribution of sports equipment (Nike, 2014). The marketing communication campaign was implemented with the aim of increasing the company’s market share in the UK to extend its lead. This is as a result of the stiff competition from Adidas (Thomasson, 2014). The campaign intended to make use of all the available avenues to increase awareness of the UK market about the brand. It also intended to market the new products that it had launched and seen as appropriate for the target market. These mainly included sports shoes. This marketing communications campaign targeted a wide range of customers, who ranged from 18 to 50 years of age (Nike, 2014). Factors that make the campaign successful There are several aspects of the campaign that make this campaign successful in attaining its originally set goals. One of these is the wide range of media outlets were used to pass the message to the audience, basing on the fact that media consumption varies among individuals within different age groups (Bergemann Bonatti, 2011). Another factor that made the communication campaign successful was the fact that it highlighted the favourable attributes of the company’s products, which included the affordable prices and the comfort of the shoes. Referring to the heightened appreciation model, this is an effective trigger of purchase intentions among the target audiences (Fill Hughes, 2013). Given that this marketing communication campaign was strategically designed, the only aspect that could undermine its capability to attain the intended goals is the launch of a similar or better campaign by its key competitors. Media Used Different forms of media were used in this campaign to increase the size of the audience that could be reached. These were classified as print, broadcast and interactive media. Print media comprised of newspapers and magazines. These targeted different clients. For instance, ads that were placed in fashion magazines targeted the fashion enthusiasts who could need Nike’s products to work out. Broadcast media basically comprise of radio and TV (Lamb et al., 2008). Different market segments were targeted by advertising on a wide range of TV and radio channels, and at different times. Given that communication campaigns in print and broadcast media are one way, they were designed to contain as much information as possible to answer any questions that clients could have regarding the product (Bergemann Bonatti, 2011). Interactive media comprised of all the media outlets that could allow the company and its clients to engage real-time with each other (Correa et al., 2010). These comprised of social networking, mobile and via the company’s blog. As opposed to print and broadcast media platforms, interactive media provided capabilities for the company and target customers to engage constructively (Kim Ko, 2012). Some of the major social media platforms that are ideal for such form of communication between companies and customers include Facebook, Twitter and Google+. Despite the advantage of real-time engagement that social media presents for companies, information on a flaw of negative attribute on the product spreads very fast (Correa et al., 2010). Conclusion This paper has covered a wide range of issues that relate to the present-day business environment. In regard to the technological advancements that are taking place in the present-day business environment, Google and Yahoo have been used as cases to discuss the opportunities and threats that these advancements present to the company. The paper has also presented an overview of internal and external communication in Google, which has incorporates that factors that are considered and the channels that are used in the communication. Different marketing communication theories have also been presented. These include the heightened appreciation model and the advertising exposure model. In the paper, different organizations have been used in the explanation of various concepts presented. Based on the arguments that have been presented in the paper, companies have to ensure that they effectively communicate with their customers and also encourage cross-functional communication so as to succe ed in the current hypercompetitive business environment. Failure to implement an appropriate communication mix will not only have adverse effects on the marketing efforts of the company, but will also hamper internal operations. For future research, the marketing communication theories and models should be analyzed more broadly so as to establish their relevance to different businesses. References Adler, G., 2013. Management Communication. New Jersey: Prentice Hall. Alexa, 2014. Web company Information: Top Sites. [Online] Available at: alexa.com/topsites [Accessed 7 April 2014]. Bergemann, D. Bonatti, A., 2011. Targeting in advertising markets: implications for offline versus online media. The RAND Journal of Economics, 42(3), pp.417-43. Butler, C.J., 2010. Internal and lateral communication in strategic alliance decision making. Management Decision, 48(5), pp.698-712. Butler, M., 2011. Android: changing the mobile landscape.Pervasive Computing. IEEE, 10(1), pp.4-7. Correa, T., Hinsley, A.W. De Zuniga, H.G., 2010. Who interacts on the Web?: The intersection of users’ personality and social media use. Computers in Human Behavior, 26(2), pp.247-53. Dahlen, M., Lange, ‎F. Smith, ‎T., 2010. Marketing Communications: A Brand Narrative Approach. California: John Wiley Sons. Diefenbach, T. Todnem, R., 2012. Reinventing Hierarchy and Bureaucracy: From the Bureau to Network Organizations. Bingley: Emerald Group Publishing. Efrati, A., 2012. Once Shunning Ad Promos, Google Now Flaunts Itself. The Wall Street Journal, 27 March. [Accessed 7 April 2014]. Fill, C. Hughes, G‎., 2013. CIM Coursebook Marketing Communications. New Jersey: Routledge. Gandhewar, N. Sheikh, R., 2011. Google Android: An Emerging Software Platform For Mobile Devices. International Journal on Computer Science Engineering, pp.12-17. Goodman, J., 2006. Intranet Strategy. London: The Ark Group. Haigh, P., 2010. Social Network Websites: Their Benefits and Risks. London: Optimus Education eBooks. Hundal, B.S. Grover, S., 2012. Consumer Responsiveness towards SMS Advertisements and its Effectiveness in the Present Scenario. Journal of Marketing Communication, 7(3), pp.34-39. Lagrosen, S. Josefsson, P., 2011. Social media marketing as an entrepreneurial learning process. International Journal of Technology Marketing, 6(4), pp.331-40. Lovelock, C. Wirtz, J., 2011. Services Marketing: People, Technology, Strategy. Upper Saddle River: Prentice Hall. Moore, I., 2005. Does Your Marketing Sell?: The Secret of Effective Marketing Communications. Boston: Nicholas Brealey Pub. Nike, 2014. About Nike Inc. [Online] Available at: http://nikeinc.com/pages/about-nike-inc [Accessed 7 April 2014]. Persaud, A. Azhar, I., 2012. Innovative mobile marketing via smartphones: are consumers ready? Marketing Intelligence Planning, 30(4), pp.418-43. Petit, C., Dubois, C., Harand, A. Quazzotti, S., 2011. A new, innovative and marketable IP diagnosis to evaluate, qualify and find insights for the development of SMEs IP practices and use, based on the AIDA approach. World Patent Information, 33(1), pp.42-50. Plunkett, J.W., 2009. Plunketts E-Commerce and Internet Business Almanac 2009. Texas: Plunkett Research. Schultz, F., Utz, S. Gà ¶ritz, A., 2011. Is the medium the message? Perceptions of and reactions to crisis communication via twitter, blogs and traditional media. Public relations review, 37(1), pp.20-27. Segev, E. Ahituv, N., 2010. Popular Searches in Google and Yahoo!: A â€Å"Digital Divide† in Information Uses? The Information Society, 26(1), pp.17-37. Shih, B.Y., Chen, C.Y. Chen, Z.S., 2013. An empirical study of an internet marketing strategy for search engine optimization.. Human Factors and Ergonomics in Manufacturing Service Industries, 23(6), pp.528-40. Shimp, T. Andrews, J.C., 2013. Advertising promotion and other aspects of integrated marketing communications. Mason: Cengage Learning. The Financial Express, 2005. Creative motivation at Google Inc. The Financial Express, 14 May. Thomasson, E., 2014. Adidas sees hit from emerging market currency swings. Reuters, 5 March. Velazco, C., 2013. Done Deal: Apple Confirms It Acquired Israeli 3D Sensor Company PrimeSense. [Online] Available at: http://techcrunch.com/2013/11/24/apple-primesense-acquisition-confirmed/ [Accessed 7 April 2014]. Williamson, D., Cooke, P. Jenkins, W., 2013. Strategic Management and Business Analysis. New Jersey: Routledge. Wright, M., 2012. Gower Handbook of Internal Communication. Burlington: Gower Publishing.

Monday, February 24, 2020

Managing and developing people Essay Example | Topics and Well Written Essays - 2000 words

Managing and developing people - Essay Example Usually, big organizations could have thousands of employees. To manage such a magnitude of employees requires expertise, skill and a deep knowledge of principles of management. Regardless of the size of the organization, human resources are what keep a company moving. This paper discusses the role of motivation in getting work done and especially in increasing employee job performance. The following is a report on the factors that affect motivation in an given organization. The report highlights different technique and human resources theory, which different organizations use to give rewards and maintain a well-motivated workforce. This section of the report analyzes the techniques and theories with an aim of evaluating their effectiveness as strategies made to assist the organization in achieving its goals. It is evident that the task of motivating workforce in an organization is not an easy one and requires that organizations evident enormous resources in the process. Cranny, Smith, and Stone, (1992), defines motivation as the process of empowering an individual to continue acting in a certain positive behaviour. Motivation in organizations is aimed at encouraging employees to take initiative in execution of their duties at the work place. Motivated employees exhibit self-drive and desire to willingly perform their tasks in accordance to the organization’s objectives (Cranny, Smith, & Stone, 1992). According to the Maslow’s theory, employees’ behaviour is influenced by wants and desires which unless satisfied, they continue to determine and influence how an employee will act. In a business organization, employees have their needs and wants, which make them to work. However unless their expectations are fulfilled they may under perform or function in less effective manner. Business organizations have come up with different ways of fulfilling human resource needs. The most important of them is the motivation of workers. Unless workers are