It will give the management of any company the benefit of seeing how well the company is meeting the goals of their mission statement. The common characteristics of a balanced scorecard are the same for each and every company that uses one; however each company will obtain different results. This is because each company will perform differently and the balanced scorecard will help the company to determine what is working for the company and what needs improvement. The balanced scorecard will help to make the employees perform better, which at the same time will help to improve customer satisfaction, thus the cause and effect sequence. If the employees are performing their job better, they will deliver better quality products, in a timelier manner, thus raising the customer satisfaction.
Acquire or Develop Talent Tanglewood should acquire talent, because it wants to keep performance and customer service at high levels. In addition, while old stores under Tanglewood have the same basic look, the management styles and human resource can use some improvements. Acquire talent is very helpful for new stores, because employees would “hit the ground running” and be at the peak performance the moment they arrive. Hire Yourself or Outsource Personally, I think Tanglewood should hire itself. Outsourcing is more practical for small and medium companies.
Competitors – they will be only interested if the Business means “ASDA” is not doing so well as this will mean more business for them , because they are offering the same services within the same area. They can use the financial statement of “ASDA” as a “bench mark” for their own performance. Owners- they are the most important stakeholders, because they have established the business and they devoted a lot of their time for the company success. They are the stakeholders, who have the higher interest for the business to raise on profit and value. Employees and Managers- their interest is that the company provides them with decent live hood.
It would be beneficial to have him take the What Time of Day am I Most Productive survey to see if his poor decision making is based on his ability to focus. The characteristics of the employees make up the characteristic of the company, and both of these are a direct reflection of their leadership. Keeping employees happy is a key element to success, as noted in (Robbins & Judge, 2011), “Therefore, companies implement programs; such as piece-rate pay where workers are paid a fixed sum for each unit production completed”. It is imperative that a company can attract and retain a skilled workforce. Ensuring that their compensation is competitive with the market and valuing the employee’s opinions are just two ways to accomplish this.
Sometimes, the staff exchanges the product with a different size that is suitable for them and whether it makes them happy. In addition, Primark is an outstanding retail company, so the customers would want their staff to have good product knowledge, someone who knows the idea of what they customers like and don’t like. So therefore, it benefits the customer to trust the staff and they would have a good understanding with negotiating with the offers such as ‘sales reduction, which is quite useful in a business. How effective customer service benefits the organisation Great customer service makes your customer feel that you care about developing in long term relationship that means you are not only make more sales, however it does benefit the business in different ways , such as : Repeat
Many interesting points were raised during this discussion and it was enjoyable to read about different views others had. A common theme was caring about customer satisfaction, this can be through either the quality of the product the business is serving or the service that employees are giving directly to customers. Another common point was marketing; marketing fits well within the customer category as this will bring in customers old and new and keep them interested in the business. One point that was not discussed in the forum that I thought about after was the product or service a business has on offer, without a good product or service there would no business. Business’s also need to make sure that they are marketing their product to the correct target audience, to ensure the best
Promotion mix is also used to encourage customers that the product is better than competing products and to remind customers about why they may want to buy it. It can also be used for attracting new customers, creating an image, increase sales, encourage customer loyalty, create awareness and also reassure new customers. Reference: http://www.tutor2u.net/business/marketing/promotion_mix.asp Communication
The downfall of a corporation is that of double taxation. Nonetheless, having an organization be it’s own entity may outweigh the con’s of having the organization be double taxed. A perfect example of a business that may wan’t to become incorporated would be a bar. A bar has a high risk of liability and, so a bar owner may not want to have that responsibility lingering over their head on a daily basis. In this scenario the pro’s outweigh the con’s and therefore it would be a great idea to form a corporation.
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.
Customer satisfaction is on the rise in the workplace, having good customer satisfaction will help you do more business. Listening to the customers will help a business know what the customers really wants and needs are essential in sales and business performance. Teamwork brings peoples strengths and talents together to help solve a problem. The more people you have working on something the more ideas will come up on how to solve a problem. Brainstorming and group problem solving will help a business succeed.