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.
Final Financial Analysis of The Home Depot and Lowes Ayesha Muhammad Columbia College The companies I picked for the assignment of financial statement analysis are, The Home Depot and Lowes. I will conduct an in dept analysis on both companies by looking into their history, comparing their strengths and weakness in their industry and compiling information about their current financial situation as it relates budgeting and investment. With this information, I will then give a recommendation into which company I would invest with good reason. Both the Home depot and Lowes are major competitors in the DIY, otherwise known as Do-It- Yourself, home improvement market. Both the home depot and Lowes carry merchandise for home, garden, lawn, landscaping, and many other merchandising projects detailed for remodeling and repair.
Providing this service will lead the company to differentiate themselves among their competitors. Moreover, it will maintain a strong cash flow by selling high volume of units to the contractors. However, the service provided by the contractors must fulfill customer satisfaction. Therefore, Home Depot should also provide information to the contractors about the products and their installations. These key points will build and maintain economies of scale.
By listening to people’s feedback not only can you find better ways of working increasing your speed and efficiency but you can work with other people to build upon ideas. 1.3 Explain how learning and development can improve own work, benefit organisations and identify career options Learning and development can improve your own work by increasing speed and efficiency and persons own knowledge base. This can benefit the company because you are less likely to make mistakes which not only saves you time but other people that may be asked to help you rectify the mistake and also having to repeat work. This will bring down costs to the company and the quality of work you hand in will be better. For example the data quality department of the hospital’s motto is “GETTING IT RIGHT THE FIRST TIME” as getting something such as patients information can have large
Therefore, companies employ various strategies to advertise and sell their products or services. Companies try to promote and sell their products to customers that they have identified in a target market. They implement marketing strategies to help accomplish the goal of profitable sales. Hence, marketing strategies are vital to the success of the company and the marketing strategy that a successful company employs will seek to overcome shortcomings and increase the company’s revenue. Lane Bryant is one such retail store that has developed marketing strategies that has made them one the most profitable retail stores for women who are larger in size.
The firm produces uniquely designed, high end quality cabinetry for the residential and commercial markets. Although their primary focus is on residential kitchens, baths, and audio/video storage, they are capable of supplying high end cabinetry to the commercial sector. A unique, competitive advantage of the company is that they are able to produce high end cabinetry products with computer controlled, automated processes that allows for a more efficient, lower cost operation relative to typical custom cabinetry firms that manufactured by manual processes. This firm fills a niche between the most expensive, fully custom cabinet manufacturers and the mass produced, “big box” store stock cabinets in terms of productivity and customization. Following the merger of the two companies in 1991, the expectation of increased sales and profitability, in addition to automation development, was met with several obstacles.
Decisions in Paradise Part II Melissa Kelley MGT/350 January 30, 2012 Berkline has brought the ideal of establishing a greater presence in Kava to the table. To create a greater presence in Kava it will be necessary to understand what this country needs from Berkline. Berkline is a leading manufacturer of furniture who came to Kava for better work performance, quality, also more affordable labor and overhead. After a great deal of brainstorming I have gathered some options for steps that the company can take which will benefit the people of Kava but also help Berkline at the same time. The first step was to evaluate what problems Kava is facing; next I had to look for options that would aid the people while ensuring the success of Berkline.
As a marketing manager of a retailer selling a vast range of home furnishings, you have been asked to identify the importance of marketing in order to reach the firm's objectives. Evaluate how the marketing management philosophies may be applied to the firm concerned. Marketing is all about anticipating, identifying and delivering the consumer's needs and wants. An example of how this definition of marketing may be applied in a home furnishing firm is seen where the current trends are anticipated and thus, furniture nowadays, is being made with pastel colours, instead of using mahogany since this is no longer the current trend. Thus the customer's tastes and needs are satisfied and the firm can make larger sales.
PERSONNEL MANAGEMENT: POLICY AND PROCEDURAL ISSUES 2 EMPLOYEE ENGAGEMENT/DISENGAGEMENT INTRODUCTION Employers want employees who will do their best at work or ‘go that extra mile’. Employees want jobs that are worthwhile and that inspire them. More and more organisations are looking for a win-win situation that meets their needs and those of their employees. What they increasingly say they are looking for is an engaged workforce. Employers want engaged employees because they deliver improved business performance.
Another way how an human resource department can make a pleasant environment for employees is through employee development. Development is an extension of training which motivates employees to be more productive. Development provides indicates that there is a possibility for advancement, thus improving work moral. There are several methods in which the human resource department can achieve an improvement in work moral through training. Human resource and companies can establish in-house training and some incentives in which employees will receive training for free or will be compensated after the training is complete.