Chapter 1 – Assessment 1 1. Explain what a risk is in the context of business organisations. What types of risks are likely to occur for an organisation? Risk in the context business organisation can be include in many factors and generally defined as any unexpected event that has the potential to impact the organisation in a negative way and as a change that occurs suddenly and impacts on the achievement of organisational objectives and goals. Types of risk: Operational risk: Internal Risk, these are part of your operational and administrative procedures.
Without prior market penetration of an organization’s competetitors, the usefulness and effectiveness of properly marketing a new product or service can be quite burdensome. This is due to the fact that an organization runs a major risk of constantly striving to maintain its customer base, as the new type of product or service has not yet been introduced into the maintstream. Additionally, pricing may be an issue based upon: Should pricing be very low to attract new buyers?, or Should pricing be set high to offset initial entry into a new marketplace? These are the questions that an organization must face, but for the most part, being a
The greatest and the latest is not always the best for companies. While it is important to have the most up to date, it is also important not to go over the total budget allotted for the service request. Doing proper research on all of the different types and styles of equipment for the various appliances being purchased is going to help save on total cost. Risk is going to be that too much money is going to be spent for the equipment or not enough money is going to be available to purchase all the necessary appliances. In order to mitigate this risk, doing the proper research will be key as it will serve a great purpose to the company.
Direct competition following the westward expansion of companies like Kohl’s and Target presents a need for a workforce of committed, qualified individuals who will help carry the Tanglewood philosophy into the future C. Lack of centralized HR practices between regional managers which are counter to the Tanglewood philosophy D. Lack of strength in the corporate staffing function has led to the need for a central planning body in staffing as well as local leadership inefficiencies Tanglewood has accomplished goals by adhering to their core values. The companies mission statement: Tanglewood will be the best department store for customers seeking quality, durability, and value for all aspects of their active lives. We are committed as a company to providing maximum value to our customers, shareholders, and employees. We will accomplish this goal by adhering to the core values of responsible management, clear and honest communication, and always keeping performance and customer service in the forefront. Strength lies in the strong employee participation and dedication, which is critical to an organizations function and retention of their workforce.
Week Six Assignment Selling Executives On Project Management Table of Contents Introduction 3 Fundamental Reasons Analysis 3 Possible Strategies 5 Conclusion 6 Introduction The success of many organizations hinge on the organization’s ability to adapt to changes in technology, market and industry trends. This paper will discuss how Levon Corporation’s reluctance to implement project management functions kept them stagnant in the industry and almost a non-competitor to their peer organizations. Levon Corporation was unmoved in their position until they realized they were on a steady decline which resulted in them bringing in project consultant to listen to the benefit of implementing project management functionality in
Working in a place that has a lot of stress either with co-workers or management will not inspire success, and it will eventually effect the organization financially. Communication is also very crucial to the success of an organization and it extends from the top to bottom and vice
The main issue in this case is whether or not Boys and Boden should run a cell manufacturing system for staircase production, to increase their profitability and productivity. (Slack etal; 2007) General Problem Statement "Boys and Boden is looking for ways to increase the company's profitability, productivity, and competitiveness in the market." Increasing profitability and productivity is the main objective of any manufacturing organization. Unfortunately, Boys and Boden is experiencing difficulties in attaining both profitability and productivity for itself. But despite this dire situation, the company is looking for ways to improve its production system because it still believes that their Joinery business still has some unexplored opportunities.
Due to the ever-changing external environment organisations face a plethora of obstacles when conducting business. Organisations have to attempt to ensure that their activities and resources fit to ensure success. The aim of this report is to identify the obstacles that FedEx face through analytical tools and analysis. To establish whether FedEx are responding to external pressures appropriately by configuring their resources and building on any competencies they may have to ensure success. Conclusions and recommendations shall be offered after the analysis of the external and internal environment in which FedEx operates.
Crisis Management – using events examples to illustrate your answer, describe how crisis management is used when planning events The purpose of this essay is to describe how crisis management is used when planning events. Crisis management is a very important factor in the event industry. As part of the planning process for any event, it is crucial to perform a risk assessment in order to control and monitor all risks and reduce the possibilities of injury or harm. A crisis can be defined as “an unexpected event that effects traveller confidence in a destination [or product] and interferes with the ability to continue operating normally” (PATA J Wilks 2003). It can be argued that crisis management is an extension of risk management.
After facing the problem, the CEO tried to think about a solution because first, he couldn’t convince the suppliers to make more effort because KHF was not considered as a large supplier for them and second, the company couldn’t deal with other suppliers because KHF’s customers were very exigent and can make the difference even if the products are similar. The region of KHF’s distribution area had been broken into six segments. Edenton which had a total sale of 18%, Elizabeth City with 21% of total sales, Williamston had 8%, Kitty Hawk 22%, Kill Devil Hills 15% and Nags Head 16% of total sales. KHF’s business was seasonal because the major restaurant activity of the Outer Banks catered to summer tourism. As we can see in the Income Statement, the company’s net sales increased from 2002 to 2003, the operating expenses were higher in 2003 but the net income was