Second only to Wal-Mart, Target has become the most profitable store in the Dayton Hudson Corporation that as of August 2000, Dayton Hudson was renamed Target Corporation. There are many internal and external factors that affect how Target implements the four functions of management. This paper is going to show and detail planning, organizing, leading and controlling and how such things as globalization, technology, innovation, diversity and ethics factors into Target Corporations business. When it comes to the globalization of Target Department stores, physically they have not gone global per say. Their stores are only located in the United States.
1 Devdatta Bhattacharya, Section B Nucor at a crossroads Arena: Nucor has been very successful with its existing steel minimills, achieving consistent profits and maintaining worker productivity The steel industry is suffering from significant overcapacity; while total US capacity alone stands at about 133 million tons of production per year, the market consumed only 70 million tons of steel in 1986, leaving over 60 million tons of idled capacity The low-end structural products market is saturated with numerous small minimills competing against each other in a stagnant or shrinking market Nucor's only option for continued growth is to invest in new technology, an unproven thin-slab cast plant that would allow it to enter the market for flat sheet steel with a low minimum efficient scale and marginal cost of production Cost Advantage: Exhibits 12A and 12B of the case present information on costs and profitability for the production of hot and cold rolled sheet as produced by the proposed thin-slab minimill and by the integrated mills, the only current producers of flat-rolls. Table 1: Construction Costs for Flat-Rolled Product Plants Type of sheet Hot-rolled Cold-rolled Thin-slab Minimill $236 $450 Modernized Integrated: $451 $675 % Savings with Minimill: 48% 33% Table 2: Comparative Operating Data for Flat-Rolled Product Plants Thin-slab Minimill Cost per ton Revenue per ton Profit contribution per ton HR $225.00 $306.50 $81.50 CR $283.00 $390.50 $107.50 Modernized Integrated HR $261.50 $326.00 $64.50 CR $349 00 $454.50 $105.50 lJnmodernized Integrated HR $300.00 $325.00 $25.00 CR $403.00 $453.00 $50.00 So, the costs of introducing new capacity in the form of thin-slab minimills is significantly lower than in form of an integrated mill with savings of 48% or 33%, depending on the type of sheet (hot-rolled or cold-rolled) Advantage of
Their hourly pay is among the lowest in the industry, yet they have the highest productivity per worker of any steel producer in the U.S. and near zero employee turnover. STRENGTHS: Nucor distinguishes itself from the rest of the steel industry with its use of scrap steel, a fact that makes Nucor the largest recycler in the nation. Other than this, Nucor possess some below strengths. * Low cost producer in the US steel industry * Most efficient steel producer in the world * Most technologically innovative steel producer in the world. STRATEGIES: Iverson’s long term strategy was to become the major player in the U.S steel industry.
One of them being that big businesses dominated the American economy, due to the chance of vertical integration. Andrew Carnegie for example dominated the US steel industry and owned everything from the steel mines to the factories producing them. This is called vertical integration. By this the iron and steel production in the US increased from 0 to 35,000 in measures of 1000 tons between 1875 to 1915. Due to businesses like these integrating vertically big businesses were made easier to grow.
Timothy T. Riley SOC-100 October, 20, 2013 David Claerbaut Globalization: A Closer Look In today’s economy multinational corporations are outsourcing at an astounding rate. These conglomerates are making their mark through dominating the business arena through globalization and world trade. Companies like Ford motor company, General Motors, and Wal-Mart just to name a few are considered to be the major power players in the industry. Multinational companies are considered a threat to national independence to secure satisfactory working environments. The world’s fortune 500 companies controlled an astounding 70% of the trade market, and 80% of foreign investment, and 30% of the (GDP), gross domestic product.
Case 4: Kanthal A Industry and its relevant characteristics Kanthal was a major producer and seller of electrical resistance heating elements. It was the largest out of six division in the Kanthal-Hoganas group. It had over 10,000 customers worldwide with 95% of its sales attributed to exports. Competitive Environment Kanthal was made up of three divisions that were competing in the global market. Through the first division that supplied electrical appliances and heating systems it helped the company dominate 25% market share, making it a world leader in supplying heating alloys.
Managing the Functional Areas of Business MGT 521 Managing the Functional Areas of Business The role of a manager in the functional areas of business is dictated by which level of management they are currently in, either executive, middle or front line. Regardless of tier, the manager has to be able to do his job as well as be able to step in and help out wherever he is needed outside of his defined job role. The manager needs to be able to be flexible, able to delegate and multitask effectively while leading his team toward achieving the company’s goals. This much holds true for all managers in the hierarchy of a company. After that, the manager’s role varies greatly according to their level: executive, middle or front line manager.
Through this entity, Armco was recognized as the leading supplier of grinding media products in the United States. The carbon wire rod was not a profitable product. The labour cost of Kansas City were higher than most of their competitors; however, their plant was not efficient, because it should have accommodate five times as many as current employees. Because of this disadvantage, the managers increase the value of their products to increase the profit and sales. All salaried employees in the Works were eligible for cash incentive awards based on performance evaluation made by their immediate superior and Rob Cushman with a range 5-30% of annual salary.
Symcor also provides their customers with long-term agreements which provide Symcor with a lot of financial stability. They have thirty locations and many employees. They help more than 100 companies by producing more than 3 billion cheques a year and more than 675 million statements annually. Symcor is also the biggest provider in financial processing service providers. They help major banks, retail companies and telecommunication companies.
Reflection Paper: Chapter 1 The first topic is an overview about operations management. During the discussion I was able to understand more what is the importance of operations management in the success or failure of a business. It was said that operations management is the organization, coordination and control of the company’s resources in the production process of a product or service. Also the operations management helps in the transformation of the business inputs like raw materials and information into finished goods or service. Operations management is said to be one of the major functions in a business.