Therefore, in order to stay competitive, Satre has decided to focus on Harrah’s core competency, which is customer loyalty. In this connection, he has worked towards hiring a competent team, which in turn has developed a data-driven marketing strategy. While at the time, Harrah’s seems to be reaping the benefit of these efforts with a 100% growth in stock price and profits; Satre is concerned with determining how much these marketing efforts had actually contributed to increased profitability, and whether these improved results were actually sustainable or simply a one-off occurrence. SWOT Analysis Strengths | Weaknesses | - Investment in Information Technology | - Inability to compete on 'innovation' with the newer casinos (eg. Mirage and MGM) | - Excellent customer service (as recognized by Casino Player Magazine) | - It is an over 50-year-old company, making across-the-board facility upgrades difficult & expensive | - 50% growth in revenue (higher than industry average) | | - 100% growth in stock price and profits | | - Patented integration of IT network across Harrah's properties | | - Data-driven
The Siemens case has the five theories of motivation: Maslow's needs hierarchy, job enrichment, expectancy, goal setting and equity goal. He was looking for recognition, was looking for actualization, security as well as a good pay; Maslow's needs hierarchy theory of motivation. He was gaining control and expanding his responsibilities; job enrichment theory of motivation. Since he was twelve years old he was working and expected to have a big reward for his hard work; expectancy theory of motivation. He set SMART (Specific, Measurable, Attainable, Realistic, and Timed) goals of selling around the globe, cut budgets and make the company more profitable; goal setting theory of motivation.
To improve after sales support of their products. 3. To increase the company’s market share. V. AREAS OF CONSIDERATION SWOT ANALYSIS STRENGTHS WEAKNESSES - Everyone has the opportunity to create idea for development - Engineers and programmers beliefs are aligned to the company’s values and practices. - The firm is a major competitor in the market - A President who can recognize problem and opportunity and is open to change - A manager who is
Perhaps the greatest benefit of offshoring is the cost advantage it produces, which directly affects the company's bottom line. In tight fiscal situations, any savings in operating costs will contribute toward the company's sustenance and growth. Companies in recession segments sustain themselves and grow through innovation. Lower operating costs means they have more money to invest in innovation, resulting in a stabilized domestic workforce. In the service sectors, the cost saving from offshoring enables companies to create new service lines, many of which had been deferred for want of investment.
This sort the management to find a solution to fix their high turnover rate. A consultant (although not an expert in the industry) was brought in to help fix this problem. The consultant aided the management in figuring out what they were actually looking for and the execution. The management found that older employees spoke so highly of the training and opportunities given to them by their resort that word got around creating a platform of newer ambitious people began to apply for positions with Green Mountain. This allowed the management to embrace not only the high employee turnover rates, but also the companies new title of being a building block, in return for high employee work and service rates.
Customer service is something we do for customers that improves the customer’s experience and that happens before, during and after a purchase of services or products. According to Harris (2010) customer service is essential to any business because it will guarantee that the customer will give you good feedback and with that you will have a great reputation. Great repetition of the business will make for more business by new customers, and will keep your older customers returning. Another reason it is important is because customers are key to your company’s success. A positive customer service experience I have had personally was when I called my credit card company to dispute chargers.
Tutorial 5 – Attracting and Retaining Staff Tutorial Activity 1: Student Facilitation Activity Questions: Theory: 1. Explain why attraction and retention of employees is important to an organisation. Use examples from the Excellent Research University case (or a related example from your own experience) to demonstrate understanding. Attraction of employees is important because it introduces new workers to a business who may possess great talents. Retention is also important due to the fact that a business would not want to lose these talented individuals since they have contributed greatly to the business.
What strategic goals does Zhang have for Haier? Do the company’s strategies appear to be helping it reach these goals? Zhang is striving to build on the competitive advantages of Haier in order to meet his strategic goals of worldwide leadership in his industry. His actions as CEO support his strategic goal of leading the Haier Group to become a truly global brand. Given the rapid growth and success of Haier since its inception, the company’s strategies appear to be helping Zhang and his employees to reach their strategic goals.
And its very success creates new challenges and opportunities for American policymakers. This white paper describes the role of entrepreneurs in sparking and expanding our current economic boom. If one were to pick a word that summarizes what entrepreneurs do, “innovation” would fit the bill. Entrepreneurs’ embrace of innovation has concrete benefits for our national bottom line: 4 4 4 4 Entrepreneurs use innovations to improve our quality of life. Entrepreneurs create new jobs.
The importance of IS to STARS: Not only IS would benefit STARS in cutting cost and improving organizational effectiveness, but also it would evolve to generate revenue and improve business effectiveness. Mr. Khan, the new CIO, would have done a great work on his first few weeks by identifying critical issues on STARS IS. The case indicates a heavy reliance on consultants, low awareness of the importance of IS by some managers, low or absence collaboration with IT by some departments, reactionary operating mode with problems, and minimum IS planning. Each would be an area of improvement that would ultimately help STARS save more human lives. The importance of IS comes in escalating benefits (see Figure 1: Escalating Benefits of IT).