The fact that Wal-Mart is a company not even a country; and is China’s eighth largest trading partner; just makes us realize how much economic growth depends on businesses to produce more goods and services faster and more efficiently. According to many economists, continuous economic growth leads to greater prosperity for everyone, but because so many countries are trying to achieve the same exact thing, competition is harsh. These are some positive and negative perspectives that are caused by international trade. As you can see, the relationship between the three sources is that they are all based on trade. All around the world, different countries import and export goods to each other so they can benefit themselves with economic growth.
Riordan will pay higher salaries to employees with high-level skillset to attract and maintain employees with these skills. In addition, this strategy will help the organization keep production running smoothly. The company understands it would cost much more in time, resource, and money to keep retraining new employees. Research and development strategy is part of the pride of the company. Riordan regularly creates and uses some of the most innovative processes and procedures to provide customers with the best product possible.
Money is what makes the world turn and it’s exactly what china has. China primarily gets its money from its huge exporting business all over the world. Everywhere you see it says made in china it was made and bought from china giving them more money. Not only has this but America owes china a lot of money from are “issues” that we had and they could pull this card anytime they want and ask for their money. This money could be used to fund next generation equipment for their military technology and even for society.
This will save time in the long run, which should encourage most employees despite their initial frustration with the management system change. A series of training and preparation with individualized tutorials might mitigate some anticipated resistance. Inadequate communication may also cause resistance. Management will make the major decisions with regard to the scheduled change; it is their obligation to clarify these decisions to subordinates within the company. Management is also expected to properly handle the inevitable questions and grievances; it is important to avoid misinterpretation regarding the procedural
Acquire or Develop Talent: engaging in an acquired talent strategy shifts the responsibility of employees to human resources department to all managers throughout the organization. The process of attracting and retaining profitable employees is well promoted in the organization so this really increases more competitive relation between firms. But if you refer to the book if the company wants to achieve a full acquisition strategy then Tanglewood is going to have to acquire new talent. This is obviously the best strategy for Tanglewood due to its evident looking at the case. They are some inconsistency in the management styles between the first set of stores and the more recently acquired stores.
Gap Analysis: Riordan Riordan Manufacturing opened a production facility in China. Because it flourished, Riordan's CEO wanted to add another facility. By adding another facility, Michael Riordan hopes to provide the company with additional international opportunities. The competition in China results in a lack of skilled labor; however, labor from nearby countries is available to Riordan Manufacturing. Using workers from these other countries requires Riordan Manufacturing to consider cross-cultural issues.
The breakup of AT&T's regulated monopoly over America's telephone communications, for example, led to ferocious competition in the long-distance market, producing both lower rates for customers and significant new investments in the fiber-optic technologies that helped make possible the internet revolution of the 1990s. And financial deregulation allowed for the creation of more sophisticated financial instruments that made it much easier for entrepreneurs to attract capital and played a huge role in fueling the booming stock market. If the price of deregulation was somewhat greater instability and occasional outbreaks of fraud, the benefits included accelerated growth and higher returns on investment. Most Americans thought that was a decent trade-off (Shmoop,
In this journal, Drew discuss the goals of IT security to protect the use of mobile devices in CPA firms and other businesses. His article outlines cybersecurity threats on the mobile and cloud fronts and lists steps that accounting firms, individuals CPAs, and other can take to reduce their risk of suffering a devastating data breach. Drew discusses how the rate of smartphones and tablets sales increase and how it reached 144.4 million units in the first quarter. With the growth of smartphones and tablet increasing, the risk of malicious software have increased. “One of the biggest risks involves employees or executives downloading personally identifying or confidential client information to their personal smartphones or tablets”.
Although competitors could attempt to use the same approach in international markets and take away market share from the company it is likely that they will not be very successful because since FedEx was established first they already have a loyal group of clientele which will be unlikely to leave to a new company. The move from the Philippines to China is a good one because China will bring in more revenue and be more profitable than will be the Philippines. The managerial functions of planning include figuring out the strategies that FedEx must employ in order to be a company that can survive and compete with any other company in its market. The function of organizing is to be able to perform managerial jobs. Buyouts have allowed FedEx to manage the sources available to them in a way that allows them to survive in their market.
Ways of doing this include: select people with the required skills and knowledge; provide the required training and clarify job requirements; provide sufficient time and resources; assign progressively more difficult tasks based on training; follow employees’ suggestions about ways to change their jobs; intervene and attempt to alleviate problems that may hinder effective performance; provide examples of employees who have mastered the task; and provide coaching to employees who lack self-confidence. In essence, leaders need to make the desired performance attainable. Good leaders not only make it clear to employees what is expected of them but also help them attain that level of performance. (Lunenburg, 2011) Reward Expectancy Leaders should try to increase the belief that good performance will result in valued rewards. Ways of doing so include: measure job performance accurately; describe clearly the rewards that will result from successful performance; describe how the employee’s rewards were based on past performance; provide examples of other employees whose good performance has resulted in higher rewards.