Industry Matrix From my research I found Wiggins Payroll’s key success factors to be client training, user friendly web portal, human resource support and fair prices. In reference to the industry matrix you can see Wiggin’s in comparison to two other payroll service companies. Client training is a big factor in the success for Wiggin’s. Many client reviews have justified just that, for example, “They cost less, they
This growth mitigates any negative effects of offshoring. Offshoring also helps a company be closer to its global customers, thereby providing appropriate offerings to its regional market and ensuring speedier problem resolution. Developers and support personnel in the relevant geographies have a better understanding of customers' needs, regulatory compliances and regional preferences, and can better implement the product or provide the service. In addition, offshoring alleviates problems created by time differences, enabling companies to support remote customers too in a virtual 24-7 operation. For companies with constrained resources, offshoring also offers better utilization of capital investments through remote usage in multiple time zones.
Management believed concentrating its financial and managerial resources on a smaller number of business segments in which market prospects were promising and Sara Lee’s brands were well positioned would help the company save cost and more profitable. The company had also implement an outsourcing strategy known as Project Accelerate. It a company-wide cost saving and productivity that focused on outsourcing, supply chain efficiencies, and overhead reduction. 2. Prepare a 9-cell industry attractiveness/business strength matrix assessing Sara Lee’s business units (attach file containing your table/matrix).
This, of course, is assuming that companies are using technology that provides constant returns to scale. In addition, large businesses have a no cost advantage. To have the ability to strive in the long-run, companies must compare their products and the prices which they are charging with their competition. With today’s economy changing, predicting profits and losses businesses will endure in the future could be difficult. Products will be more beneficial from the use of consumers and businesses.
In fact, a strong corporate culture potentially increases the company’s success by serving as a “control system” that influences employee decisions and behavior; the “social glue” that bonds people together and makes them feel part of the organizational experience; and it helps employees in “sense making” with regard to what goes on and what happens in the company (McShane and Von Glinow 2010). At Gore, core values and the company’s objective “to make money and have fun doing so” have not changed, with the underlying belief being that “a unique, nonhierarchical culture fosters the innovative spirit of
Much management research, consultancy work and money has been, and continues to be, spent on making teams work well in companies Veloutsou and Panigyrakis, (2001, p.234). Here I will analyse how team cohesion can be increased and the outcomes of a highly cohesive team The term ‘cohesiveness’ in the context of team cohesiveness within organisations can be defined as ‘The degree to which members are attracted to and motivated to remain part of the group.’ French et al (2008, p.286) Persons within a highly cohesive team generally tend to be more enthusiastic and energetic towards completing team activities and have a lower absenteeism rate, therefore team cohesion is an endeavour that managers are continuously trying to promote within organisations. There are many factors which can influence and effect cohesiveness and the performance of a team. Fig 1. adapted from Mullins L. J. (2008, p.307) illustrates the factors in question.
Unfortunately, very few organizations recognize that their employees are the critical factor in their success or failure (Javad et al., 2010) and their happiness with the organization and their individual job tasks can make or break them. Today, smart organizations understand that a company’s compensation strategy increases the productivity and motivation of employees, directly impacts an employees desire to achieve organizational goals, and makes the organization more competitive in the marketplace – therefore increasing profits. Productivity and motivation of employees within an organization can be increased or decreased by the strategies the organization utilizes. Both monetary and non-monetary compensation strategies can impact employee motivation and productivity including, direct pay, fringe benefits, job training and development, employee job
Reduced absenteeism, though often overlooked, is also a legitimate business rationale; flexible options not only strengthen commitment, but also give employees more time to handle the very situations that sometimes lead to absenteeism. Flexible work programs provide a way for businesses to increase employee loyalty without resorting to making fundamental changes in their operations. The most popular flexible work options are those that involve the least change. Flex-time and compressed work weeks, for example, call for the same number of hours, at the same workplace, as in traditional work arrangements." In addition, some supporters of flexible work arrangements argue that such programs can actually have a positive impact on the productivity of employees.
For a business that struggles with collaboration morale, it can help incentivize group work. For a company that strives to combat an individualistic workforce, it can aid in cooperation. Employing a team-based compensation strategy in a company will encourage employees to engage with each other, collaborate and strive towards a common goal together, which creates major business benefits. Also, team-based compensation can help a firm stay competitive within its market. Companies that outline their people as their competitive advantage need a strong compensation system to attract and retain their workforce, and employing a team-based compensation strategy will aid in this.
(Points : 5) Relationship marketing strives at “building enduring relationships with people and organizations in order to earn and retain their businesses” (Kotler & Keller 2009, Pg. 20). Relationship marketing delivers many benefits to the business as it allows you to reduce marketing expenses, build referrals, and grow the company’s business aligned with the clients’ needs. “The ultimate outcome of relationship marketing is a marketing network consisting of the company and its supporting stakeholders, customers, employees, suppliers, distributors, retailers, ad agencies, etc with who it can build mutually profitable business relationships” (Kotler & Keller 2009, Pg. 22).