Active or Passive Diversity: I would say that Tanglewood should look into active diversity because it meets the diverse needs of the customers. Diversity is a huge part of the company’s hiring process and they don’t want to be labeled as hiring only one class of people. Especially since the need of each customer is different Tanglewood needs to make sure that they have the necessary qualified associates to take care of the
The organization should follow company’s strong culture and consider retaining the talent employees to accomplish its business plan. But, Tanglewood relied on its experienced employees as a major source of talent. As I said before, suppose the company promotes internal employees, there must have many gaps in the organization. So, how to find new employees let them become skill employees are the big issues. 2.
In-depth research and analysis needs to be conducted on other companies that have created similar successful programs. They need to determine what the breakeven point will be, and when these new products will start generating a profit and then make the decision on whether or not it’s worth the investment. Issue 5 Lack of planning CanGo is in rapid development, but at the same time lacks of any sort of planning. CanGo's management team cannot seem to reach a viable solution for the future development of the company. Recommendation 5 CanGo needs to make a comprehensive analysis and then decide on a long-term development plan.
Lastly but not least, Ruth Chris challenge was selecting the appropriate development model in conjunction with the management team but required additional information criteria in order to guarantee the future success of the organization. Analyzing Case Data The main focus for Ruth’s Chris was to create additional revenue for its stakeholders. As discussed in the above issues there were certain obstacles that faced Dan Hannah on the most suitable method and least risk. There were international franchise opportunities for Ruth Chris but management was facing evident constraints due to internal factors as well as external factors within the organization. Ruth Chris strengths were clearly evident in its products as they grew to become the largest fine dining
Include items such as: * Management of daily operations (for example, opening and closing a store or restaurant, handling a cash drawer, etc.) * Order taking and fulfillment * Accounts payable and accounts receivable * Inventory control and management * Hiring and training of new employees and personnel management * Accounting and budgeting Financial Management – Part 4 Start-up Capital * Research the approximate cost of starting a business in your field or industry * Research and list possible sources for start-up capital – where can you go to get a new business loan Major Purchases/Expenses * List the major purchases you will make in order to start your business (for example buying a building or purchasing equipment) * List the expenses will you incur to get your business up and running (for example hiring staff or purchasing inventory) Future Outlook What does the future hold for your business? * What new products/services, locations, new markets do you plan to add? * Do you plan to hire additional employees? Will you hire additional mangers?
The QRB course will directly aid me in my future in Corporate America and as a self-employed entrepreneur. It is absolutely necessary that I become “numbers” minded. In order to become an effective manager, I must think in terms of money. This would include concepts (and vocabulary) such as Return on Investment (ROI), revenue, profit, and sales. I will have to be an analytical thinker, which includes picking pieces of information apart, putting them together, deciphering what is fact versus what is fiction.
It demands a large customer database and efficient information gathering and data processing. Consequently, short term profitability has to be sacrificed. In the other hand, the interest conflicts between employees of the traditional product sales force and those of the MFS have to be managed. The employee have to be educated to a new corporate service culture which is not just a add argument but a real value proposition. Therefore, cares must be provided to the customer relationship and the links with customers have to be strengthened and marketing operations have to be set to convince these customers of the position of Michelin as a service provider and not only as tires manufacturer.
There are many skills needed to become a successful entrepreneur however first we need to know what this is. An entrepreneur is someone who starts their business from scratch and starts to sell a product/service of some sort. The first skill needed is passion. A person cannot do the best of their ability in a certain area if they do not have passion for it. If an entrepreneur loves what he/she is doing then they will work harder in achieving what they want.
I would really like to give back to the people who are less fortunate and assist those in need of help. My immediate goal after receiving my MBA is to work for a brokerage firm that will allow me to gain enough exposure to the brokerage business prior to me establishing my own firm in Tennesee. I believe that this move would help me further enhance my learning of the necessary management concepts I will need to succeed. Attending the university will prepare me for the actual situations I will face in the corporate world. After which, my experience being an employee would then give me further experience and knowledge to help me in building my own firm.
This experience proved to be the most exciting and, at the same time, the most intimidating one in my life [Comment 2]. While the opportunity to work with MBA students created the spark that led to my deep interest in the business world and finance specifically [Comment 3], I also realized how much I had to learn. It was for this reason that I decided I needed to acquire a good basis of understanding in finance once I graduated from college [Comment 4]. I reasoned that the best way to truly learn and understand finance was to start as an accountant and get a good grounding in the basics of the income statement and its components [Comment 5]. This led to my first job as a Staff Accountant at Bob Chinn's, Inc., a restaurant operator.