REVENUE MANAGEMENT (HOTELS)

Results

Considering the figure which data which was collected, it means that revenue management obtained by the business will be used to predict the consumer demands so as to optimize price and inventory available. The main objective here is to optimize the revenue which is to be generated from such an activity. Mostly, the main objective of the business regarding revenue management is considering the value of renting a hotel room so as to obtain sufficient revenue. The result obtained indicates that the management of revenue to be generated entails selling rooms at a relatively low price but not expecting a higher demand for then in the near future.

Success

In the process of gathering information, the main challenge which is encountered during the management of revenue is basically deciding the proactive or the reactive procedures to be used in marketing. Thus, the success of the hotel was achieved through effectively analyzing market information and making necessary adjustments regarding the general distribution of the hotel product to the right client at the right price at the time. Therefore, the concept regarding revenue management is the one which was used in maximizing high demand periods as well as stimulating its demand during the low season so as to avoid cannibalism. Since revenue management for the hotel takes a relatively longer strategic period, the company had an opportunity of taking into consideration all the revenues together with profitability. Thus, the figures indicate that the room was sold at low rates prior to the injection of high demand.

Learning

There are various factors which equally makes the hotel to be relatively suitable for the application of revenue management. This includes; segmentation of the market, selling of the rooms/ products in advance, increase or decrease in its demand, differential pricing of the hotel prices, fixed capacity, and fixed and variable costs.  It should be noted that the initial step that I would have taken in managing the revenue collecting exercise would have entailed collecting information, aggravating it, analyzing it, and then forecasting its demand and performance. Once that was done, it would have been easier to make effective decisions which assists in putting them in various channels. What can be noted is that the management of the hotel revenues doesn’t offer the capacity of understanding, anticipating, and having efficient reactions regarding market demand. This then means that I would have put all these factors into considerations so that the business can have the capacity of maximizing revenues.

Marketing performance

On the other hand, the main controlling factors or levers which ought to be taken into consideration by the revenue managers are price, yield, and marketing. Therefore in order to ensure that the hotel performance has been improved, extensive marketing, provision of precious rooms and offering them at an affordable price are the main factors that I could have used to maximize revenues. Regardless of the fact that that is the main theory which exists in various business organizations regarding their competitive edge, ensuring that the management authorities have had a clear picture or market implication about them ultimately could be the ultimate means of understanding the limitations and opportunities to be used to maximize profits.

A graph showing the quarterly performance versus the competitive set

            Y-Axis

            100

            80

            60

            40

            20

            10

                                                                                                                                                X-axis

                                    1^st quarter        2^nd quarter       3^rd quarter        4^th quarter

Regardless of the activities which are undertaken by the business, increasing, or decreasing prices would be the best strategy to use. The reason for that is because it has the potential of altering the number of booking made by the customers. Considering the quarterly performance of the company, lowering or raising public rates is another means of means of attracting and retaining customers. But in order to avoid any problem which might arise, it is essential to restrict or open the segmentation rates. Marketing, on the other hand, only works in connection to the yield or the prices the business will be offering its products. Thus, in order to be in the position managing these factors, it would have been essential to ensure that the management authority have had the capacity of forecasting the revenues to be received.

Google

Strengths

Google’s strategies have enabled the company to be able to achieve its goals. The company’s strategies have been narrowed down into a sentence whereby its main strategy is to make more people to use the internet (Steiber, 2014). Through making more people to access the internet, the company can be able to gain a lot since most of the internet users tend to use google in order to again access of a lot of information (Amerland, 2010). In addition, when more people are using the internet, they will be able to involve themselves in revenue generating activities, hence affecting the company positively.

Secondly, Google possesses very loyal employees, who have enabled the company to achieve a lot. The company takes care of its employees, through offering them very high salaries, free trips, and free food (Steiber, 2014). This consequently enables the company to be able to beat its competitors, due to effort that the employees put in place in order to ensure the company is able to satisfy its customers. On the other hand, google dominates a very huge market share, due to its partnership with android phones, since all Android phones use google (Amerland, 2010).

Weaknesses

Google has been facing a lot of challenges particularly when it comes to mobile phones business. The company recently acquired Motorola, a mobile phone manufacturing company, but it has not been able to gain profits. This has consequently seen the company experiencing huge losses of up to 1 billion each and every year (Steiber, 2014). On the other hand, due to the emergence if mobile advertisements, the company’s advertising rates have drastically dropped. This has consequently reduced the profits that were being gained by the company in the past (Amerland, 2010).

The sustainability of the company’s revenue is not guaranteed, since the advertisers may terminate the contract, due to different reasons at any time (Amerland, 2010). The high advertisements prices are also affecting the company negatively, since most advertisers have opted for other means of advertising their products other than through AdSense (Steiber, 2014). Furthermore, most of the products in the company’s portfolio do not generate any profits. This consequently costs the company a lot of money to be able to put such products on their portfolio and they do not therefore gain the company any profit.

According to the above analysis, this stock should be included in my portfolio, simply because the company has been able to come up with ways through which it can be able to earn profits. This company has been able to control its market share, even with the current economic crisis in the world (Steiber, 2014). The company has also partnered with mobile companies such as Android phones, whereby the company can be able to earn profits particularly when the mobile users save and store their contacts of google mail. In addition, since the company depends only on advertisements, it has been able to avoid investing in areas which might affect its performance (Amerland, 2010).

Furthermore, the company’s revenue and profits have since grown, due to its adoption of the new technology and the advertisement trends (Amerland, 2010). This has consequently enabled the Google to be able to grow without any problems at all (Steiber, 2014). Even though the company has encountered losses due to investing in mobile phones, the return on investment has been very good, thus enabling the company to be able to gain profits even as other technological companies tend to stagnate due to the economic problems in the world.

Reference

Steiber, A. (2014). The Google model: Managing continuous innovation in a rapidly changing world.

Amerland, D. (2010). SEO help: 20 steps to get your wesite to Google's #1 page. Cheadle, Cheshire: New Line Pub.

Mark Zuckerberg

Mark Zuckerberg is the Chief Executive Officer (CEO), chairman and also the founder of the giant social media website commonly known as Facebook. Zuckerberg who is a computer programmer by profession and also an internet entrepreneur. He has achieved a lot of goals such as launching Facebook while in his dormitory room in the year 2004 (Lüsted, 2012). He has worked very hard in order to grow Facebook, and currently, Facebook is the most dominant social media site all over the world (Peter, 2016). In addition, Zuckerberg purchased WhatsApp, a messaging platform which allows its users to make calls, send videos, audio, photos and even messages within the shortest time possible.

Zuckerberg has been able to achieve his goals through working with the board members. In addition, he is very hard working and determined such that he cannot be limited by any challenges which may come his way (Lüsted, 2012). Zuckerberg as a leader allows debates in the company, whereby he allows the employees to participate in the debates, thus settling on decisions which can help the company to be able to achieve its goals (Peter, 2016). On the other hand, sometimes he decides to make decisions on his own, without the advice of the board members.

He allows suggestions from his subordinates, simply because he knows his weaknesses, thus before making a decision he clearly examines the suggestions before allowing the suggestions to be implemented (Peter, 2016). In addition, he ensures democracy in the company where the grievances and suggestions of the employees are taken very seriously (Lüsted, 2012). Moreover, he is success oriented such that he cannot rest until the company has achieved its desired goals. Through this leadership styles, Zuckerberg has been able to provide the best services to the customers, while ensuring that the employees of the company are satisfied.

Reference

Peter G. Northouse. (2016). Leadership: Theory and Practice. Seventh Edition: Sage publications. 

Lüsted, M. A. (2012). Mark Zuckerberg: Facebook creator. Edina, Minn: ABDO Pub. Company.

Celebrity Endorsement

Frame of reference

The management dilemma being discussed in the article is the influence of the credibility of celebrities on consumer-based equity of an endorsed brand. Celebrity endorsements is a very significant issue in the media, since it clearly explains how effective it is to use celebrity endorsements in the media. The problem has been embedded in the introduction, whereby the author has clearly explained what the article will be discussing through the thesis statement (Amanda, Ravi & Bettina, 2011).

Purpose of Study

The research was conducted in order to examine the influence of celebrities on consumer based equity of endorsed brands (Amanda, Ravi & Bettina, 2011). The research therefore provides a clear insight on the impact which celebrity endorsements have on consumer based of any endorsed brands.

Review of the Literature

The content of the literature review fully relates to the article’s frame of reference, since the research has clearly explained and provided evidence on the impact celebrity endorsement on brand recognition. I think discussing the long-term effects which celebrity endorsements have on the sales of brands, would help in adding depth to the literature review (Amanda, Ravi & Bettina, 2011).

Method & Sampling

The article uses both Qualitative and Quantitative analysis, in order to come up with very distinct information. The qualitative method was conducted through a field of experiments, in a city in Australia, where the types of branding were manipulated into two levels, this was, the parent brands and sub-brands. (Amanda, Ravi & Bettina, 2011). On the other hand, the qualitative was used in the collection of data whereby people above the age of 18 years were used, whereby every tenth buyer was asked to participate in the study. The approach is appropriate since it was conducted using actual consumers, thus coming up with actual figures. The setting was selected based on the rate at which consumers bought certain goods. The respondents and the units were selected based on the areas which showed a high consumer rate.

Analysis

The data collected was analysed using both qualitative and quantitative analysis, whereby the results received from the qualitative analysis were backed up by the quantitative analysis, as proof that the research was effective (Amanda, Ravi & Bettina, 2011). The analysis is explained in detail thus enabling one to understand how they reached the results. The analysis is appropriate since it provides clear analysis, before presenting the figures.

Conclusion

It was concluded that there is a brand relationship between brand credibility and celebrity endorsements (Amanda, Ravi & Bettina, 2011). Celebrity endorsements creates brand credibility hence increasing the sales of products. The conclusions are clearly justified by the results, since the conclusion backs the results.

Recommendations

The recommendations were both practical and theoretical hence helping in improving the performance of businesses through celebrity endorsements (Amanda, Ravi & Bettina, 2011).

References

Amanda. S, Ravi Pappu, & Bettina Cornwell. (2011). Celebrity Endorsement, Brand Credibility and Brand Equity: European Journal Marketing 45.

Management Development Strategy

The strategy for employee development should be based on the notion that a workforce that is engaged and well led affects positively on the quality of employee production and provides high degree of satisfaction.  The alternative employee fir management should be based on training, coaching and mentoring so as to have a management team that is self-driven, skilled, experienced and satisfied with their positions. Training involves imparting skills or cultivating skills in individual to attain their target growth objectives by refreshing their old skills, whether technical or even soft focus (Mumford & Gold, 2004). The training should involve involvement in various activities, discussions exercises or through role play. The aim is to increase the skill set and their confidence in using these skills which will broaden the management role so that it is not only just a plan on skills applications.  The intended management trainee should concentrate on important areas that will assist in their present and future goals but this should be done through a process that aligns these goals to company goals. Coaching involves orienting the employees to the hands on management responsibilities with a specific set duration for completion (Stern, 2013). The programs involved in the coaching process should be structured and the various sessions scheduled on constant basis.  The focus on the coaching program should focus on issues touching on development and specific areas of development.   Mentoring on the other hand is a long-term process that is aimed at development management employees for the future tasks (Stern, 2013).  It involves the mentor establishing a relationship with the managers that last a long-time so that there is no deviation from the intended development goals. This can be carried out through informal meetings that take place when the mentee needs support, guidance or even advice in their management task. 

Executive coaching and mentoring involves establishment of a one-on-one relationship between a trainee and an adviser where confidentiality is highly regarded and personal development facilitated.  Executive coaching equip individuals to handle management issues with high confidence and competence especially in the short term issues (Stern, 2013).  They help individuals to perfect their management and leadership skills which have immediate and lasting impacts.    It is a good way of providing encouragement and motivation which are necessary in revitalizing the management process in an organization. Mentoring and coaching programs help in providing managers with current changes in real world management activities and experiences (Stern, 2013). They bridge the gap between executives and mentors and thus bring change needed in refreshing management performance.

For the management development to be successful, various factors have to be considered before a program is instituted.  These include various competencies and roles, employee expectations and the relation with the total quality management.  Competencies refer to those skills needed for in the process of management and which may be required in order to rejuvenate the performance of employees so as to ensure that the goals of the organization are achieved. The development program should consider all the previous training, job experience and efforts that in the past have been aimed at employee development (Mumford & Gold, 2004).   This means that various job competencies should be exhibited by the managers or employees while performing their functions.  Management roles include those functions that have been undertaken by the employees and which needs renewed effort in completion of their intended mission of the organization. The management must ensure that they evaluate what the employees expect in regard to their personal growth and career development plan whose neglect in the past could have led to poor or average performance (Mumford & Gold, 2004).  Focusing on these issues could help in avoiding the loss of talented managers and employees who think they are not offered the opportunity for career and personal development. Since employee normally want development, they should be highly motivated or the organization will not get the right opportunities to retain improve their performance or retain them.  The other factor to consider is how the management development will be linked to the organization’s total quality management.  This consideration ensures that management is trained on how they can take part in the improvement of products, services and processes and a culture that ensures that customer satisfaction is achieved (Mumford & Gold, 2004). The management will resume the necessary aspect of customer –focus, total involvement of all employees and ensuring that the process is time focused.  These factors are necessary for ensuring that development strategy is aligned with overall organizational objectives. A work-life balance can be struck in the development process.

Succession planning is an important step in talent management especially when there is a need to address competency gaps in various occupation or positions in management.  It is proactive processes that enables organizations to identify individuals who can occupy those positions and impart them will relevant skills and competencies so as to undertake these roles (Mumford & Gold, 2004). In the process management development process, the succession management involves a proactive step that  identify high potential individuals who can be recruited, trained and mentored to occupy  future management positions.

References

Deb, T. (2006). Strategic approach to human resource management: Concept, tools and application. New

               Delhi: Atlantic. 241-254

Mumford, A., & Gold, J. (2004). Management Development: Strategies for Action. Wimbledon: Chartered Institute of Personnel and Development.

 Stern, L. R. (2013). Executive coaching: Building and managing your professional practice. Hoboken, N.J: Wiley.

Business growth and development stage assessment

Assessing growth and development stage

The assessment of the current stage of business growth and development is important since it helps in diagnosing, predicting and providing solutions for the challenges facing a firm through learning of several major concepts. These concepts are important in improving the understanding of both external and internal environment in which a business is operating.  Recognizing the current stage of growth and development will also make it possible for one to adapt their leadership skills to what is required while facing various challenges that await any successful business.  Examination of the growth patterns and challenges facing the firm will be important in assessing the very stage of the business. This includes an evaluation on problems related to obtaining customers and delivery of desired products to the customers (Judge & Business Expert Press, 2011). The issues to be considered includes whether the firm is able to obtain customers, provide services or deliver its products effectively as a viable business. If the firm is in the first stage, existence stage, it will encounter challenges while trying to expand from a pilot process of production or a few customers to a large base of its intended sales.  In this stage the business will also experience insufficient money for covering considerable cash flow demanded in a start-up stage. In addition, at this stage, the firm has simple structures and operations with the owners doing most of the responsibilities, while directly supervising the employees (Churchill & Lewis, 1983). At this stage the, there is no much customer acceptance and due to limitation on start-up capital, there is possibility of the business being sold or closing down altogether. The presence of these issues indicates that the business is in the startup-stage with so many gaps relating to capital, customer base and strained management input.

If the firm has enough customer base that is able to satisfy them fully with its services or products, this implies that the business is the second survival stage. At this stage, the main problem would be the link between the firm’s revenues and expenses incurred. If the business is able to break-even in the short-un and covers basic costs such as replacement or repairs of assets and can generate sufficient cash flow in stay afloat in the business and financing growth to a sufficiently big size, it means that the business is in the second stage of growth and development (Churchill & Lewis, 1983).  The organization operations and sales involve a small workforce at this stage, while there is minimal systems development and planning is formal and cash forecasting.  If a company is in this stage, there will be indication of growth in profitability and even size and its economic viability will have been developed enough to warrant a possible sale to another party.  The gag existing in such a firm includes lack of constant profitability or growth, little development in operations and structure while the management is does not make key decisions independently. If the firm is profitable and stable, it should be in the stage three   where success is being experienced.   An assessment on profitability would indicate the potential for expansion or continuous growth and development since the customer base is strong and demand is met sufficiently.  A firm in this stage will be facing the issue of whether to expand or maintain its stability, with expansion plans being to start-up new branches while maintaining the status quo of the business (Cornwal, Vang & Hartman, 2012). 

 An evaluation that indicates that the firm has attained its economic health with sufficient customer base, large size and high market penetration shows that the firm is in stage four.  An assessment on the length the firm has experienced economic success would indicate the stage of the firm, with a long-period of such success shows a stage three (Churchill & Lewis, 1983). An assessment of the risks being taken by the firm would also indicate the stage of the firm, with huge risks in investment shows the stage three when expansion is at a notch high. If the key challenges being experienced in the business relate to how rapid growth will be carried out or financed, it means that the firm is in stage four.   In such a scenario, the delegation of responsibilities is done for effective managerial improvement and the systems and structures are largely developed. An important issue in this stage is whether there is enough cash flow to sustain growth demands and the managerial and financial   challenges that comes large firms that are constantly growing.   The financial controls and gains in a firm can be assessed to determine the stage of growth and development with consolidated financial systems indicating a concern for rapid growth, characteristics of stage five where resource maturity has been attained.

From the various growth stages that a firm could be operating at, there may exist gaps on market penetration, inefficient capital for start-up or expansion and lack of efficient management especially growth management and financial controls.   To assist in eliminating the capital gap would require raising the necessary funds which will be instrumental in enabling the bridging all the other gaps.  Raising of the necessary capital include  looking for financial partners  willing to lend the operations of the firm whether in production process, marketing and  even expansion process. Raising funds would involve engaging venture capitals, borrowing from lenders such as banks and selling of the company shares to the public depending on the growth and development strategy of the organization (Cornwal, Vang & Hartman, 2012).  Where the firm is experiencing challenges or gaps in customer base especially in the first stage of growth, a strategy would be to have embrace customer centricity. When the firm is experiencing challenges in obtaining good customer response, delivering on value which addresses the requirements and needs of customers can assist in solving the issue. Companies have to be customer centered while making considerable efforts in constantly tracking and understanding consumer dynamics so as to attract them in the right approach. This will be enabled by relevant solutions to the needs through valuable products.  Where the firm is experiencing gaps in management ,  organization structure should be that the manager makes decisions after consulting widely from others ,  whether internal employees or consultants , so as to having good management couching and mentorship (Churchill & Lewis, 1983).  This will be necessary regardless of the stage of the development the firm has reached. To enhance effectiveness and efficiency in business growth and expansion would involve overcoming not only financial gaps but also human resources needed to offer expertise on the various fields such as finance. This would be necessary in stage 3 and 4 where the firm is experiencing stability in growth and profitability and expansion is needed. The management gap would be overcome though implementation of various training and couching programs whose aim to equip the staff with relevant entrepreneurial and management skills required in the firm.  The development of effective leadership across any stage of the business would help in implementation of strategies aimed at solving the experience and capital gap. 

 The management of the firm can employ metrics and processes that are directed towards growth and expansion so as to avoid remaining in the same development stage.  I would, therefore, introduce simple, well-designed and straight forward process assisted by effective team management and management practices.  For any enterprise, management team is very important especially where is based on competitiveness of the company in the market. With such a team, high-quality products that can efficiently meet the market demand are quite possible to produce and this will go a long way in attracting a large customer base for the first stage firm.  In entrepreneurship, effective management plays a vital role in solid decision-making, alignment of various cross-functional responsibilities and proactive adoption of risk measurements to prevent the failure of a new business (Wilson & Bates, 2003).   In addition, having strong management in the business will ensure that any talent-gap existing will be filled.  Hence, the various challenges faced by a business involve debt gap, talent gap and leadership gap whose solutions would see a large improvement in the growth and development of the firm. Dealing with these gaps especially the debt gap means that an entrepreneur is not afraid to take various risks which will ensure growth and profitability of the venture.  The goal will be that all efforts in the business will be aimed at accepting change that address these gaps and matching risks taken to final rewards.

Assessment of leadership potential

 An assessment on my leadership potential can be based on behaviors that drive results and the others that help in building relationships.  The behavior can be traced to the cognitive ability in relation to analyzing a situation, recognizing strengths and weakness in such a situation and coming up with workable solutions to the weaknesses or challenges identified in the analysis.  The ability to analyze the available information and finding out various challenges facing an organization, the strengths in the firm which can be used to solve the situation and influencing others to adopt changes (Daft, & Lane, 2008). Another aspect in assessing leadership potential is my personal divers which comprises of values, preferences and motivations that influence the decisions that I make and actions that I take for that matter.  These drivers provide a willingness to take risks an engage in various tasks which require investing a lot of energy, time and resources for future rewards.  Motivating others is a basic aspect in leadership function which determines how the working environment will be and whether the set goals and objects will be achieved both in the short-run and in the long-run (Daft, & Lane, 2008). To assess my leadership potential can also involve identifying ideas, beliefs, past experiences, skills and competences that I have applied in previous decision making.  These can be summed up as personal attributes which are measured through competencies like problem solving, decision making, developing others and one’s flexibility. In addition, the views of others can be used to assess my leadership potential based on my past performances both inside and outside the working environment.

  In regard to these measures, my strength in carrying out thorough analysis when confronted by a situations that require clear and quick decision making , which is enough evidence that my leadership potential is quite high. My knowledge past experience in leading informal groups, couple with the ability to motivate and influence others is good indications that I have good leadership skills.  In addition to influencing and motivating others, I have also portrayed the ability to develop others through offering direction on personal choices that may lead to career development and failure after a wide searching. These strengths portray aspects that I can use in overcoming weaknesses that can derail my leadership skills. Moreover, my behavior when faced with various situations has been described by others as being calm, flexible and dependable. Improvement on leadership potential can play a key role in personal and career growth and development and overcoming weaknesses through strengths assessments (Daft, & Lane, 2008).  The leadership potential can be enhanced through taking initiatives, working outside my profession or position, listening effectively and conflict management (Daft, & Lane, 2008). Taking initiatives means taking on more responsibilities as a leader which involve extra projects outside roles description  since the more work I undertake the more I continue learning and improving. This also relate to working outside my roles which means extending help to  other situations that may need quick and effective decision making . This helps in broadening the level of leadership skills and competencies that are necessary in business management an integral part in the success of any enterprise.  Listening effectively is an important aspect that allows obtaining feedback and building good relationship in team work on any given projects’ undertaking. Conflict management is a very important factor in effective leadership especially when working as the leader of a group in an organization. It involves knowing how to deal with difficult people in such a group and resolving any arising conflict (Daft, & Lane, 2008).  Mentorship and couching are important programs that can help in improving leadership potential since it involves learning from more experienced leadership in the long-run or short-run. Couching and mentorship provide an opportunity for one to learning from others experience, ask for guidance and assistance in important projects and this allows new skills development.

Initiating change

Initiating change in a cross-cultural team involve breaking the barriers that may arise from different organizational cultures of different departments or sections.  As a leader, finding a way to eliminate the barriers or minimizes the effects of such barriers in change acceptance among the different members.  There is therefore a need to achieve collaboration across the team members which can be achieved through aligning the interactions of members to a common objective. Coordinating the interactions between the team members will help in breaking communication barrier and tension that may exist, and this makes it possible to introduce change with minimum resistance (Judge & Business Expert Press, 2011). As a leader, initiating change easily will involve describing and explaining to the people why changes are needed, the need for every member to be involved in implementation of these changes and providing support the members to deal with effects of such changes.   To achieve change acceptance across the team, building powerful coalition will make it possible for the members to own the change and consolidate their efforts towards achieving a common vision.

Reference

Wilson, P., & Bates, S. (2003). The essential guide to managing small business growth. Chichester: Wiley.217-220

Cornwall, J. R., Vang, D. O., & Hartman, J. M. (2012). Entrepreneurial financial management: an applied approach. ME Sharpe. 22-25

Churchill, N. C., & Lewis, V. L. (1983). The five stages of small business growth. Harvard business review, 61(3), 30-50.

Judge, W. Q., & Business Expert Press. (2011). Building organizational capacity for change: The strategic leader's new mandate. New York, N.Y.] (222 East 46th Street, New York, NY 10017: Business Expert Press.

Daft, R. L., & Lane, P. G. (2008). The leadership experience. Mason, OH: Thomson/South-Western.

Business growth and development stage assessment

Assessing growth and development stage

Innotec Group is a major SME company where I am likely to work after graduation as a part of the larger management team in one of its departments. The assessment of the current stage of Innotec Group growth and development is important since it helps in diagnosing, predicting and providing solutions for the challenges facing the firm through learning of several major concepts. These concepts are important in improving the understanding of both external and internal environment in which the business is operating.  Recognizing the current stage of growth and development will also make it possible for one to adapt their leadership skills to what is required while facing various challenges that await any successful business.  Examination of the growth patterns and challenges facing the firm will be important in assessing the very stage of the business. This includes an evaluation on problems related to obtaining customers and delivery of desired products to the customers (Judge & Business Expert Press, 2011). The issues to be considered includes whether the firm is able to obtain customers, provide services or deliver its products effectively as a viable business. If Innotec Group is in the first stage, existence stage, it will encounter challenges while trying to expand from a pilot process of production or a few customers to a large base of its intended sales.  In this stage the business will also experience insufficient money for covering considerable cash flow demanded in a start-up stage. In addition, at this stage, the firm has simple structures and operations with the owners doing most of the responsibilities, while directly supervising the employees (Churchill & Lewis, 1983). At this stage the, there is no much customer acceptance and due to limitation on start-up capital, there is possibility of the business being sold or closing down altogether. The presence of these issues indicates that the business is in the startup-stage with so many gaps relating to capital, customer base and strained management input.

If the firm has enough customer base that is able to satisfy them fully with its services or products, this implies that the business is the second survival stage. At this stage, the main problem would be the link between the firm’s revenues and expenses incurred. If the business is able to break-even in the short-un and covers basic costs such as replacement or repairs of assets and can generate sufficient cash flow in stay afloat in the business and financing growth to a sufficiently big size, it means that the business is in the second stage of growth and development (Churchill & Lewis, 1983).  The organization operations and sales involve a small workforce at this stage, while there is minimal systems development and planning is formal and cash forecasting.  If a company is in this stage, there will be indication of growth in profitability and even size and its economic viability will have been developed enough to warrant a possible sale to another party.  The gag existing in such a firm includes lack of constant profitability or growth, little development in operations and structure while the management is does not make key decisions independently. If the firm is profitable and stable, it should be in the stage three   where success is being experienced.   An assessment on profitability would indicate the potential for expansion or continuous growth and development since the customer base is strong and demand is met sufficiently.  A firm in this stage will be facing the issue of whether to expand or maintain its stability, with expansion plans being to start-up new branches while maintaining the status quo of the business (Cornwal, Vang & Hartman, 2012). 

 An evaluation that indicates that the firm has attained its economic health with sufficient customer base, large size and high market penetration shows that the firm is in stage four.  An assessment on the length the firm has experienced economic success would indicate the stage of the firm, with a long-period of such success shows a stage three (Churchill & Lewis, 1983). An assessment of the risks being taken by the firm would also indicate the stage of the firm, with huge risks in investment shows the stage three when expansion is at a notch high. If the key challenges being experienced in the business relate to how rapid growth will be carried out or financed, it means that the firm is in stage four.   In such a scenario, the delegation of responsibilities is done for effective managerial improvement and the systems and structures are largely developed. An important issue in this stage is whether there is enough cash flow to sustain growth demands and the managerial and financial   challenges that comes large firms that are constantly growing.   The financial controls and gains in a firm can be assessed to determine the stage of growth and development with consolidated financial systems indicating a concern for rapid growth, characteristics of stage five where resource maturity has been attained.

From the various growth stages that a firm could be operating at, there may exist gaps on market penetration, inefficient capital for start-up or expansion and lack of efficient management especially growth management and financial controls.   To assist in eliminating the capital gap would require raising the necessary funds which will be instrumental in enabling the bridging all the other gaps.  Raising of the necessary capital include  looking for financial partners  willing to lend the operations of the firm whether in production process, marketing and  even expansion process. Raising funds would involve engaging venture capitals, borrowing from lenders such as banks and selling of the company shares to the public depending on the growth and development strategy of the organization (Cornwal, Vang & Hartman, 2012).  Where the firm is experiencing challenges or gaps in customer base especially in the first stage of growth, a strategy would be to have embrace customer centricity. When the firm is experiencing challenges in obtaining good customer response, delivering on value which addresses the requirements and needs of customers can assist in solving the issue. Companies have to be customer centered while making considerable efforts in constantly tracking and understanding consumer dynamics so as to attract them in the right approach. This will be enabled by relevant solutions to the needs through valuable products.  Where the firm is experiencing gaps in management ,  organization structure should be that the manager makes decisions after consulting widely from others ,  whether internal employees or consultants , so as to having good management couching and mentorship (Churchill & Lewis, 1983).  This will be necessary regardless of the stage of the development the firm has reached. To enhance effectiveness and efficiency in business growth and expansion would involve overcoming not only financial gaps but also human resources needed to offer expertise on the various fields such as finance. This would be necessary in stage 3 and 4 where the firm is experiencing stability in growth and profitability and expansion is needed. The management gap would be overcome though implementation of various training and couching programs whose aim to equip the staff with relevant entrepreneurial and management skills required in the firm.  The development of effective leadership across any stage of the business would help in implementation of strategies aimed at solving the experience and capital gap. 

 The management of the firm can employ metrics and processes that are directed towards growth and expansion so as to avoid remaining in the same development stage.  I would, therefore, introduce simple, well-designed and straight forward process assisted by effective team management and management practices.  For any enterprise, management team is very important especially where is based on competitiveness of the company in the market. With such a team, high-quality products that can efficiently meet the market demand are quite possible to produce and this will go a long way in attracting a large customer base for the first stage firm.  In entrepreneurship, effective management plays a vital role in solid decision-making, alignment of various cross-functional responsibilities and proactive adoption of risk measurements to prevent the failure of a new business (Wilson & Bates, 2003).   In addition, having strong management in the business will ensure that any talent-gap existing will be filled.  Hence, the various challenges faced by a business involve debt gap, talent gap and leadership gap whose solutions would see a large improvement in the growth and development of the firm. Dealing with these gaps especially the debt gap means that an entrepreneur is not afraid to take various risks which will ensure growth and profitability of the venture.  The goal will be that all efforts in the business will be aimed at accepting change that address these gaps and matching risks taken to final rewards.

Assessment of leadership potential

 An assessment on my leadership potential can be based on behaviors that drive results and the others that help in building relationships.  The behavior can be traced to the cognitive ability in relation to analyzing a situation, recognizing strengths and weakness in such a situation and coming up with workable solutions to the weaknesses or challenges identified in the analysis.  The ability to analyze the available information and finding out various challenges facing an organization, the strengths in the firm which can be used to solve the situation and influencing others to adopt changes (Daft, & Lane, 2008). Another aspect in assessing leadership potential is my personal divers which comprises of values, preferences and motivations that influence the decisions that I make and actions that I take for that matter.  These drivers provide a willingness to take risks an engage in various tasks which require investing a lot of energy, time and resources for future rewards.  Motivating others is a basic aspect in leadership function which determines how the working environment will be and whether the set goals and objects will be achieved both in the short-run and in the long-run (Daft, & Lane, 2008). To assess my leadership potential can also involve identifying ideas, beliefs, past experiences, skills and competences that I have applied in previous decision making.  These can be summed up as personal attributes which are measured through competencies like problem solving, decision making, developing others and one’s flexibility. In addition, the views of others can be used to assess my leadership potential based on my past performances both inside and outside the working environment.

  In regard to these measures, my strength in carrying out thorough analysis when confronted by a situations that require clear and quick decision making , which is enough evidence that my leadership potential is quite high. My knowledge past experience in leading informal groups, couple with the ability to motivate and influence others is good indications that I have good leadership skills.  In addition to influencing and motivating others, I have also portrayed the ability to develop others through offering direction on personal choices that may lead to career development and failure after a wide searching. These strengths portray aspects that I can use in overcoming weaknesses that can derail my leadership skills. Moreover, my behavior when faced with various situations has been described by others as being calm, flexible and dependable. Improvement on leadership potential can play a key role in personal and career growth and development and overcoming weaknesses through strengths assessments (Daft, & Lane, 2008).  The leadership potential can be enhanced through taking initiatives, working outside my profession or position, listening effectively and conflict management (Daft, & Lane, 2008). Taking initiatives means taking on more responsibilities as a leader which involve extra projects outside roles description  since the more work I undertake the more I continue learning and improving. This also relate to working outside my roles which means extending help to  other situations that may need quick and effective decision making . This helps in broadening the level of leadership skills and competencies that are necessary in business management an integral part in the success of any enterprise.  Listening effectively is an important aspect that allows obtaining feedback and building good relationship in team work on any given projects’ undertaking. Conflict management is a very important factor in effective leadership especially when working as the leader of a group in an organization. It involves knowing how to deal with difficult people in such a group and resolving any arising conflict (Daft, & Lane, 2008).  Mentorship and couching are important programs that can help in improving leadership potential since it involves learning from more experienced leadership in the long-run or short-run. Couching and mentorship provide an opportunity for one to learning from others experience, ask for guidance and assistance in important projects and this allows new skills development.

Initiating change

Initiating change in a cross-cultural team involve breaking the barriers that may arise from different organizational cultures of different departments or sections.  As a leader, finding a way to eliminate the barriers or minimizes the effects of such barriers in change acceptance among the different members.  There is therefore a need to achieve collaboration across the team members which can be achieved through aligning the interactions of members to a common objective. Coordinating the interactions between the team members will help in breaking communication barrier and tension that may exist, and this makes it possible to introduce change with minimum resistance (Judge & Business Expert Press, 2011). As a leader, initiating change easily will involve describing and explaining to the people why changes are needed, the need for every member to be involved in implementation of these changes and providing support the members to deal with effects of such changes.   To achieve change acceptance across the team, building powerful coalition will make it possible for the members to own the change and consolidate their efforts towards achieving a common vision.

Reference

Wilson, P., & Bates, S. (2003). The essential guide to managing small business growth. Chichester: Wiley.217-220

Cornwall, J. R., Vang, D. O., & Hartman, J. M. (2012). Entrepreneurial financial management: an applied approach. ME Sharpe. 22-25

Churchill, N. C., & Lewis, V. L. (1983). The five stages of small business growth. Harvard business review, 61(3), 30-50.

Judge, W. Q., & Business Expert Press. (2011). Building organizational capacity for change: The strategic leader's new mandate. New York, N.Y.] (222 East 46th Street, New York, NY 10017: Business Expert Press.

Daft, R. L., & Lane, P. G. (2008). The leadership experience. Mason, OH: Thomson/South-Western.

Employee retention is very significant for the performance of the company, since it helps in gaining loyalty from the employees. Moreover, employee retention leads to a good employee-management relationship, which tends to impact the company positively, since the employees can offer the best services to the company (John & Pam, 2002). Moreover, employee retention improves the employee turnover rates, thus allowing the company to be able to effectively provide the best services to its clients. Furthermore, this is very significant as it allows the employees to work very hard in order to gain more bonuses and even rewards (John & John, 2002). This is consequently because, in order to be able to retain employees in the company, the management needs to reward them for their performance, or even increase their salaries.

There are many steps which can be taken in order to improve employee retention, and this may include the following. Developing a business plan, developing a business plan consequently helps in providing the managers with the consequences of employee turnover rates. Secondly, developing a compensation plan, and thirdly rewarding the employees (John & John, 2002). Developing a compensation plan helps in calculating the cost of retaining employees, thus being able to understand how effective it might be. On the other hand, rewarding the employees is one of the best ways of retaining employees, since this makes the employees to feel appreciated thus providing the best services for the company. Employee retention is very significant on the workforce, since it helps in the creation of understanding between the management and the employees, thus leading to an improved work output (Sharon & Nancy, 2012).

Optimizing work schedules and ensuring long-term profits is the main function of workforce planning, since it seeks to provide the best work schedules, hence improving the delivery of work output in the company. This therefore translates to long-term profits in the company, since improved work output leads to increased profits (John & Pam, 2002). On the other hand, developing a business plan falls under recruitment and employee retention. The management of the company is supposed to recruit and even maintain employees, in order to ensure improved performance of the employees (John & John, 2002).

Reference

John. Izzo & Pam Withers. (2002). Winning Employee-Retention Strategies for Today’s Healthcare Organization: Healthcare Financial Management.

John Gering & John Conner. (2002). A Strategic Approach to Employee Retention: Healthcare Financial Management.

Sharon. B, & Nancy Shanks. (2012). Introduction to Healthcare Management: Jones & Bartlett Learning.  

An analysis of Responsible Business in Costa Coffee

Introduction

Corporate social responsibility is the thought that has been a mankind concern for decades now.  Over the last two or so decades, however, it has become an increasing business concern globally.  This has resulted in the increasing interactions amid the businesses, government and the society in general (Guliani, & Rizwan, 2016).  In the past, businesses were mainly concerned with financial outcomes based on their decision.  However, in the economic world, today businesses are required to be a major reflection of the ethical, legal and social consequences of the corporation’s decisions. Hotels operate in an environment that supports the members of the society (Guliani, & Rizwan, 2016).  Therefore, firms in the hospitality sector are required to ensure that they generate benefits rather than harm the society in their quest to maximize profits. The report will provide an analysis regarding corporate social responsibility as an ethical business practice for firms operating in the hospitality sector. The report will then focus on the CSR aspects that are implemented by Costa Coffee. The report aims at analyzing the various aspects of the responsible business at Costa Coffee while paying specific attention to the CSR strategies that have been adopted by the firm.

Literature Review

CSR can longer be described by the much that the company contributes towards charity but the description can best be derived from the general involvement in activities that are aimed at improving individual’s lives quality (Guliani, & Rizwan, 2016). Firms within the hospitality industry can demonstrate their business responsibility and business practice ethics via CSR programs, corporate governance principles adherence and active participation in different voluntary agreements and partnerships with other firms.  CSR is objected at enabling firms to make a positive and desirable contribution to all the stakeholders such as the consumers, the community, employees and other groups that might be indirectly or directly impacted by its operations. Corporate governance necessitates that the hospitality companies adheres to a set of management principles.  This implies that the hospitality firms can play part in social developments such as environmental conservation (Wilhelm, 2010). The engagement in corporate responsibility can results in significant benefits (Wilhelm, 2010).  The benefits  may include  increasing the consumers segment,  sales increase,  profit increase,  reduce the rate of employees turnover, attract  potential investors and  increase  the general  productivity  of the  firm. The lack of cporporate responsibility can be categorized as unethical practice in business. Business ethics  is particularly concerned  with the  conduct of the  business  which  can either  be positive  or wrong (Bohdanowicz &  Zientara, 2009).  Organizational decisions are developed by persons within the firm but they are mainly influenced by the corporation’s culture.  Behaving ethically for the corporation is a strategy of maintaining morals (Wilhelm, 2010). 

CSR in the Hospitality Industry

According to Holcomb, Upchurch, and Okumus (2007), 80 percent of the successful hospitality companies have engaged in corporate responsibilities activities.  This is a major sign that the hospitality industry has widely adopted CSR in the recent based on the involved advantages.  Some corporations have even made the efforts of incorporating CSR standards and policies in the visions as well as value statements. Holcomb, Upchurch and Okumus (2007), stated  that  the most  utilized  strategies  in engaging in CSR by corporations are  embracing  workplace  employees diversity, playing part  in environmental  conversation  through  green movement and other environmental friendly operations, implementation of  CSR standards and policies,  making  social  donations  and developments  in  areas such as  education (Rivera, 2002).

Environmental conservation and the effective utilization of energy have turned to be the primary interesting CSR areas in the hospitality sector.  There are also some specific conditions that may necessitate firms to respond in a socially responsible manner (Rivera, 2002).  Hotels are involved in activities that are mainly objected at improving individual’s lives quality for their employees and the community that they operate in. In that, employees are the most important resources that the corporation has as they tend to determine productivity and performance. On the other hand, the community offers a surrounding for the company to work and also provide a market for the yields.  Some hotels adopt several strategies in ensuring that equality is enhanced in the society through creating employment opportunities to the local community (Holcomb, Upchurch and Okumus, 2007).  This helps in creating a more developed social as well as economic state within their operations as their actions are suitable for the development of community’s amenities and social infrastructure.  In addition the hotel industry is known to be highly associated with high levels of wastes that may lead to the pollution of the environment.  Therefore, the hospitality firms utilize different measures that ensures that their wastes are properly disposed of without affecting the community and the environment which may include soil water or even air (Rivera, 2004).

Consumers prefer to acquire hospitality products and services from hotels that are associated with high levels of CSR involvement.  This is because the firms are perceived not to be objected on maximizing profit but rather they are aimed at lifting the status of the society within which they operate (Henderson, 2007).  The implementation of CSR policies and standards within every firm in the hospitality sector may, therefore, prove to be a competitive and a sustainable advantaged. The rising pressure from the media, consumers and the government for environmental conservation measures adoption by businesses is forcing firms within the hospitality industry to implement fresh plans, strategies, and policies that are friendly to the environment.  Most of the hostels are now utilizing technology in reducing wastes, the use of recycling processes and the conservation of natural energy (Rivera, 2004).

The Importance of CSR

While CSR programs can be categorized as voluntary and unrestricted, the benefits of the engagements are more than the involved costs provided that firms are not objected on the maximization of high financial returns only in all its operations (Logan, Gooden and Simon, 2013).  The characteristics and the nature of the servicing sector and particularly the hospitality industry engagement in social initiatives helps in the creation of desirable effects.  In that, the involvement can result in the improvement of brand awareness as well as loyal consumers. Based on the  fact that  services  are intangible  and they  are  assessed on the basis quality perception rather than the  attributes  of tangible  products  the  good will that  is resulted  by  social matters  engagement that a  firm utilizes  transfers  the image  of the  brand  which results  in the  creation  of differentiation which may, in turn,  lead to the  development  of  competitive  advantage.  The hospitality industry is characterized by increased competition and the best way of dealing with it is through the provision of unique services that are branded with a positive perception (Bohdanowicz and Zientara, 2008).

Social initiatives additionally results in the creation of reputational benefits and the consumers are always willing to pay for higher prices by considering the firm as responsible which enables the corporation in surviving the seasonal industry that is characterized by undesirable economic cycles.  Demographics such as that of millennial is one that is high conscious socially which triggers the need for creating green hotels and this take normally results in the creation of sustainability. In fact, it has been established by several recent studies that consumers are usually willing to acquire premium priced services from hotels that are labeled as green (Kasim, 2006).

Hotel corporations that practices CSR can be able to attract motivate as well as retain employees, consumers and attract potential and willing investors.  Employees are always willing to work for corporations that hold a desirable image as well as reputation (Grünewälder, 2008).  This is essential and it results in the creation of motivation which lowers the rate of turnover which is a long-standing issue within the industry.  In addition, in consideration of the nature of the workforce diversity in the global nature employees, diversity as a form of CSR initiative helps in improving performance through the creation of more skills (Kang, Lee, and Huh, 2010). Thus, CSR initiatives transform to be the important components that result in the integration of high performance (Huimin, and Ryan, 2011).  Stewardship of the environment is the primary section that the hospitality sector has invested in and it is linked with several benefits that encourage efficiency, increases the consumer base and improves the general sales. A considerable reputation is additionally acquired from the initiatives as the programs are effective in pursuing high consumer’s attention which then creates a desirable brand image since consumers become more connected to the organization and its conduct in general. It is, however, crucial to leverage the firm’s primary competencies when deciding to adopt actions that are socially responsible which help in creating valuable opportunities (Grünewälder, 2008).

CSR Frameworks

CSR framework refers to the entities to which a corporation holds the obligation to act upon for the benefits of the whole community (Paetzold, 2009).  Costa Coffee will be analyzed on the basis of three frameworks which are the community, environment and the workplace. The community framework entails social welfares, education and social development programs.  The workplace involves the development of human capital, fair remuneration, staff welfare, health, and safety working place and workplace diversity. On the other hand, the environment entails environmental, certification, environmental social campaigns and activates and environmental management initiatives (Paetzold, 2009).

The three frameworks were chosen based on their ability to show the extent to which the corporation is responsible socially (Crane, 2008).  In that, the workplace will be an important framework for the evaluation as it will be based on the efforts made by the corporation in creating safeties, developing human capital through training initiatives, educational assistance, appreciating employees and commitment to productivity through promoting healthiness (Crane, 2008).  In relation to the community, the participation of the corporation involuntary activities that are aimed at creating social development will be analyzed.  This will assess whether the corporation plays part in the general growth of the education sector in any way. In addition, its participation in social welfare such as the development of amenities and social welfares that are within a certain community will be analyzed (Crane, 2008).  In the context of the environment framework, the areas that will be analyzed includes the certification of the environment, participation in environmental campaigns and the management of environmental programs. Through the analysis of various CSR activities, which the company undertakes as well as the impact that these activities have on the community and other stakeholders the key weakness in Costa Coffee’s CSR strategy will also be identified. This could be expected to lead to a better evaluation of the effectiveness of the firm’s CSR strategy. It could also aid in identifying areas that could be modified so as to enhance the effectiveness of its CSR programs (Crane, 2008).

Part B: Practical Evaluation of Responsible Business Practice

Costa Coffee is one of the favorite coffee shops with the fastest and yet the largest growing coffee business chain in the UK.  The firm’s vision is to create legendary brands that create a strong consumer feeling with innovation to lead (AMD, 2013).  In addition, the company’s teams offer special services that ensure that they come back thus driving the growth of profit.  Costa coffee’s CSR slogan is that it cares for the community that it services and operates in (Costa, 2017). The company is socially responsible as it participates in several social initiatives.  The company continuously strives in reducing its environmental impact.  This is achieved by  the use  of recycling strategies, the use of  sustainable inputs of resources  in its operation,  the use of technology smart equipments  that works in ensuring  that less  wastes are released  to the air and the use  of renewable energy (Renolds, 2010).

The company manages its environmental conservation and the promotion of healthy living.  All the coffee that the company uses is completely certified by the Rainforest Alliance which ensures that it is of good quality and safeties (Costa, 2017).  The company additionally plays part in the development of healthcare by ensuring that it donates to the purchase of healthcare devices and materials annually. This shows that the company is committed to enhancing the wellness of the community that offers it a market as well as offers a favorable surrounding to operate in. The company is also involved in promoting quality and affordable education particularly for the less fortunate children in the community.  The company has its own foundation that is referred to as The Costa Foundation (AMD, 2013). 

The foundation plays part in the provision of long-term support to the coffee planters and their respective communities.  This is achieved through the  provision of  education access  which ensures that the  communities are well informed and equipped to deal with economic as well as social issues through securing employment  opportunities with adequate income to support  the families. Up to date, the company has built schools in the communities where coffee is grown and improved the existing educational facilities in most nations such as Vietnam and Colombia.  The company also offers training and sustainable crops to their farmers, employees as well as their respective families which ensure adequate care to the coffee lands and the community in the best practices.

Back in 2013, the company announced a fresh product packaging as the primary part of the corporation in widening sustainable and commitment to social responsibility (AMD, 2013). The packaging has been applied in all its stores and it is structured in a manner that it utilizes lowered resources which lead to the saving of 18 paper tons every year.  The initiative is  a part of the corporation’s objective in ensuring that its operations leads  to zero  wastes by the end of this year.  The design additionally incorporates the labeling scheme initiated by the government which allows consumers to make healthier options at ease in regard to the food they take (AMD, 2013).  Costa was the first coffee retailer to offer products that incorporated a packaging front labeling that is consistent with the one that is utilized across the food and beverages industry that is also supported by the health and foods organizations.  The packaging of the corporation that is always consumer and environmental friendly to avoid pollution is parent of the corporation’s wider CSR strategy which is aimed at creating long-term company’s sustainability while still maintaining wellness in the society (AMD, 2013).

 Costa coffee has well developed and sets targets in regard to environmental conservation, consumer wellness and the benefiting the community in general.  In that, the company wishes to exist in a community that depicts social wellness. In achieving this the company partners with other firms in sponsoring healthcare facilities developments and building of schools in economies that are characterized with lawlessness.  The company sells products that are health friendly, affordable and safe (Costa, 2017).  It recognizes the growing need of consuming healthy meals and therefore offers more natural, hygiene and non-preserved meals and certified coffee products.  In addition, the company provides charity donations in the community for instance during Christmas or other celebrations as a way of thanking the community (Costa, 2017). However, the part that the community should improve on is the recycling and waste. It should pack products in recyclable packaging and those that can decompose faster and stop using plastics.

            References

AMD. (2013). Costa Reaffirms CSR and Sustainability Credential with New Packaging. Retrieved from http://www.mynewsdesk.com/uk/costa-coffee/pressreleases/costa-reaffirms-corporate-responsibility-sustainability-credentials-with-new-packaging-905674

Bohdanowicz, P. and Zientara, P. (2009). ‘Hotel companies' contribution to improving the quality of life of local communities and the well-being of their employees’,Tourism and Hospitality Research, 9(2), pp.147-158.

Bohdanowicz, P. and Zientara, P.(2008). ‘Corporate social responsibility in hospitality: Issues and implications:A case study of Scandic’, Scandinavian Journal of Hospitality and Tourism, 8(4), pp.271-293.

Costa Inc. (2017). Costa Coffee, Good Together. Retrieved from http://www.costa.co.uk/responsibility/

Crane, A. (2008). The Oxford handbook of corporate social responsibility. Oxford: Oxford University Press.

Grünewälder, A. (2008). Corporate social responsibility: Implementation in German companies. München: GRIN Verlag GmbH.

Guliani, L. K., & Rizwan, S. A. (2016). Corporate social responsibility in the hospitality and tourism industry. Hershey, PA, USA: Business Science Reference.

Henderson, J.C. (2007). ‘Corporate social responsibility and tourism: Hotel companies in Phuket, Thailand, after the Indian Ocean tsunami’,International Journal of Hospitality Management, 26(1), pp.228-239.

Holcomb, J.L., Upchurch, R.S. and Okumus, F.(2007). ‘Corporate social responsibility: what are top hotel companies reporting?’,International journal of contemporary hospitality management, 19(6), pp.461-475.

Huimin, G. and Ryan, C.(2011).‘Ethics and corporate social responsibility: An analysis of the views of Chinese hotel managers’, International Journal of Hospitality Management, 30(4), pp.875-885.

Kang, K.H., Lee, S. and Huh, C.(2010).‘Impacts of positive and negative corporate social responsibility activities on company performance in the hospitality industry’,International Journal of Hospitality Management, 29(1), pp.72-82.

Kasim, A. (2006) ‘The need for business environmental and social responsibility in the tourism industry’, International journal of hospitality & tourism administration, 7(1), pp.1-22.

Logan, T.M., Gooden, D.J. and Simon, H.H. (2013)‘Corporate governance in the lodging industry: Special case of the service industry’,International Journal of Management & Information Systems, 17(2), pp.71.

Paetzold, K. (2009). Corporate social responsibility (CSR): An international marketing approach. Hamburg: Diplomica-Verl.

Renolds, J. (2010). Coffee Chains Fall Short On Social Responsibility. Retrieved from http://www.campaignlive.co.uk/article/coffee-chains-fall-short-social-responsibility/1007943

Rivera, J.(2002)‘Assessing a voluntary environmental initiative in the developing world: The Costa Rican Certification for Sustainable Tourism’,Policy Sciences, 35(4), pp.333-360.

Rivera, J., (2004)‘Institutional pressures and voluntary environmental behavior in developing countries: Evidence from the Costa Rican hotel industry’,Society and Natural Resources, 17(9), pp.779-797.

Wilhelm, R. T. (2010). The strategic importance of corporate social responsibility: Competitive advantage or contemporary trend?. Magdeburg: GRIN.

 Amazon Online business strategy and management

In the corporate world, it is evident that companies begin with a subtle and elegant strategy that brings an impact in the society. A corporation or an enterprise can have on inclusion and diversity that can extend beyond their manufacturing or headquarter facilities (Towse, 2013). Alongside other supply chain businesses and online retailers such as Safeway Stores Inc. and ConAgra Foods, Amazon displays an exemplary and unparalleled business in the field of international corporations as the best business websites. Amazon’s supply chain process is one of the world’s best supply chains and online shopping platform. Amazon under the management of able CEOs since its inclusion has observed and maintained a high standard of supply chain management to achieve the incontrovertible business standard in international trade.  

Q1. How well are the 5-forces identified and evaluated?

Porter’s five forces are significant tools for survival and maintenance of competitive advantage of any company. Amazon remains the best and leading online company due to the integration of the terms of this model. Although the company faces a lot of competitions and technicalities, for the company to keep thriving it is its mandate to remain resilient in the e-commerce (Towse, 2013). The strongest forces in this model include competition or competitive rivalry, substitution or threats of substitutes and customers or bargaining power of suppliers. The week factors include bargaining power of suppliers and threats of new entrants.  

Bargaining power of clients

Ray (2010) posits that over the years, the reputable chain supply company has been investing heavily in delivery time and reducing the delay of the products to win the customer's loyalty. On the same note, the management has strived to make the delivery faster by introducing drones and Dash that enabled users to place of primary household goods by just placing an order online. Furthermore, the tools are also effective other duties since they provide real-time data for more accurate information about when goods’ demand falls and rise. The simple but effective Amazon’s supply chain process has perpetuated the great growth. The process begins with a customer placing an order that ignites a red light in the store that shows the workers the product on demand and thereafter placing a barcode for dispatch.

 Subsequently, the product placed on a conveyor belt, which is then channeled to a contribution Centre. The Amazon has endeavored to provide the customers with high quality information to fully exhaust and satisfy the client’s needs. Therefore, in Amazon’s fight to remain the best online retain it must take care of low switching cost and availability of substitutes such as Walmart’s stores to keep their customers as bargaining power of buyers is a major determinant (Ray, 2010).   

Competitive rivalry

Online retail companies are always more aggressive, hence very competitive. For instance, Amazon’s greatest competitors are the Walmart, eBay, jet and craigslist, which essentially owns an expanding online business website. Hence, through strong governance, Amazon has employed a strategy to remain resilient in e-commerce by taking care of risks of low switching costs and possible substitutes.

The great company strength is seen in how it conducts its sales. The huge large party sellers, low-cost structure, and the largest merchandise selection are the fundamental pillars of the corporation’s strength (Hitt et al., 2017). Moreover, as the world’s leading retailer, it derives its strength from the three strategies and that differentiation, leadership, and focus. As a result, of these approaches, the company has reaped gains and helping the shareholders drive significant values from the enterprise. The strength of the business also lies on the competitive advantage they gain from leveraging information technology and the use of the same in e-commerce as well as the superior logistical and distribution systems thy have actualized over the years.

Bargaining power of Amazon suppliers

The sellers or the suppliers detect the availability of materials of supplies to the company. Because of a small population of the vendor, moderate size of suppliers as well as moderate forward integration the company faces the moderate intensity of suppliers bargaining power. The smaller number vendors is a problem to the enterprise due to monopoly hence, should initiate moderate forward integration to be equivalent to a fair degree of control the suppliers beholds in selling their products to the enterprise.

Threat of New Entrants  

A new entry of firms into the e-commerce reduces the amazon’s market share potentially. Therefore, for the company to remain towering high and overcome the threats of a new entrant, it must consider the setback or breeding grounds of failures. They should put into consideration the aspect of the high cost of brand development, low switching costs, as well as high economies of scale. Some factors such as the high eonomis of scale and low switching costs weaken the influence the new companies in the business of e-commerce.

Threats of substitutes

Substitute companies affect the industry environment of an existing company. In the case of Amazon, the industry external factor such as low switching costs, low cost of substitution and high availability of substitute magnify the intensity of the threat. The factors mentioned above facilitate the transfer of customers from the reputable company to its competitors. For instance, customers may decide to from another retailer such as eBay, jet, and craigslist other than buying from the Amazon.

Q2. How well are the firm’s resources and capabilities analyzed as sources of competitive advantage?                 

According to Wisner, Tan & Leong, (2016), for every success in or failure in a corporation, the management is always held accountable and responsible. The supply chain management of this high esteemed company has worked through thick and thin to bring the online shopping platform to where it is now. In the process, some business strategies, resources, and logistics have been put in place to realize this success.

Moreover, the Amazon great success in the global market has been perpetuating and made possible by the resources and capabilities the company beholds, despite the international trade challenges and internal business environment. Some of the weaknesses include the high debts accumulated since the company is still struggling to make the business profitable in developing nations (Towse, 2013). As a result, they face yet another problem of tax avoidance branding the company negative publicity. In the recent past, they have suffered products flops, the amazon’s Fire phone launched in the US was a big flop hence a significant loss to the company. Thus, because of unmatched capabilities and resources that the strong leadership has put in place the company has emerged victorious despite the challenges.

The excellent management of the components of the internal analysis has perpetuated the company success. Right from the company’s critical success factors capabilities and resources, SWOT analysis, distributive competencies, ROIC and competitive advantage model.

On the companies, key factors Amazon has employed excellent customer relation strategies such as broad selection of products. The online company sells a variety of products of different sizes and different brands; it gives a variety of books, unlike the other traditional e-commerce who only stocked up inventories (Ireland et al., 2012). In addition, another outstanding advantage of Amazon is their ability to sell the product at low process regardless of the quality this makes them win the loyalty of many customers hence increasing their profit margin. The company’s robust process of services or products delivery as a sign of efficiency of distribution is also the company’s stronghold. The superior supply chain, as well as the first mover advantage, makes the company maintain a high number of customers.

In addition, Amazon displays high distinctive competency in the field of e-commerce by displaying wonderful internal resources such as the earth’s biggest selection platform. It has a good will and fame due to the large, loyal client’s base and first move, coming first in the market as the online business in North America. Moreover, Amazon is capable of shipping the ordered product faster to their destination, as well as offering excellent customer service thus this put them in front of their compactors eBay, jet, and craigslist. The company’s capability of being innovative and making accelerated expansion in both geographic positions and services is a factor for its success (Ray, 2010). 

Over the years Amazon has endeavored to maintain good company reputation, good customer experience, safeguarding the Amazon empire, extended growth potential as a way of showing distinct competencies. As a result, the company has been able to widen its profit margin and maintain the loyalty of their customers.

More significantly, the Amazon as an online business has worked tirelessly to abide by terms of the competitive advantage model. The companies its years of operation has maintained efficiency, quality, good customer relationship, and responsiveness. In the day-to-day operation in their supply chain strategies and marketing, Amazon has displayed superior customer responsiveness as well superior quality in service delivery hence the success of the company.

The buying power of customer at times is influenced by the emotions the clients feel from the service provider or the seller. Amazon as a corporation has leveraged on this potential marketing strategy by displaying high values future in the value creation model. In its marketing mix, the company has endeavored to show high reputational values such as trust, simplicity, and responsiveness to their target groups (Ireland et al., 2012). Furthermore, they have been the forefront in organizing high values sales and promotions amounting to the good customer experience.  With all incredible strategy in the components of the internal Amazon has been able to maintain their empire as one of the reputable online selling companies in the entire globe.            

Conclusion

In conclusion, analysis of Amazon’s supply chain store is an excellent examination and a case study of the other company dealing in the field. The milestone Amazon has shown in the area of online shopping and supply chain is incontrovertible hence it stand out to be the world best platform in supply chain diversity. Despite the weaknesses and challenges, the company has been a solid competitive advantage in the corporate world due to the immense online business strategy and well management of the components of the internal analysis.         

Reference list

Hitt, M. A., Hoskisson, R. E., & Ireland, R. D. (2017). Strategic Management: Competitiveness & Globalization.

Ireland, R. D., Hoskisson, R. E., & Hitt, M. A. (2012). Understanding business strategy: Concepts plus. Mason, OH: South-Western Cengage Learning.

Ray, R. (2010). Supply chain management for retailing. New Delhi: Tata McGraw-Hill Education.

Wisner, J. D., Tan, K.-C., & Leong, G. K. (2016). Principles of supply chain management: A balanced approach. Boston, MA: Cengage Learning.    

Towse, R. (2013). Handbook on the digital creative economy. Cheltenham, UK: Edward Elgar.

Name

Professor

Institution

Course

Date

Canada Goose operation management

Introduction

Canada Goose Inc was formed in 1957 by Sam Tick.  The company is located in Canada and it manufactures winter clothing.  Sam Tick, who is the founder of the company, established the Metro Sportwears Ltd where he manufactured heavy-duty parkas.  In 1980-1997, the company had developed and changed the ‘Metro Sportswear Ltd’ to ‘Snow Goose’.  Later, it   expanded its marketing activities to Europe where products and services were sold under the name ‘Canada Goose’. In terms of operation management, Canada Goose play various business practices to create efficiency and maximize profit. The following are practices under operation management.

Design of Goods and Services

 In production of goods and services, the company focuses on efficiency and cost-effectiveness. The company has a unique position in the market by manufacturing products with high functionality.  It has followed the steps of Nike and Apple by expanding internationally in different areas such as in Sweden and New York City[1]. The main goal in design of goods and services is to ensure that the organization is capable of manufacturing good and services with respect to the market preference.

Quality management

 Canada goose ensures manufacture of quality products. The purpose of producing quality is to meet the customers’ needs in the competitive market and to fulfill their expectations. To achieve this, it implements total quality management (TGM) in the manufacturing process[2].  Under quality management, the company implements effective management to achieve efficiency of production.  To achieve this, it implements strategies which will assist in accomplishing production goals set toward market dynamics.  Under quality management, Canada Goose ensures that the company has training opportunities, it also lowers cost and it engages staffs[3].

                Location Strategy

 To optimize cost, the company has deployed a corporate strategy. The latter assist in reaching the target market. It has developed production facility locations. For example, the company designs products which will be highly demanded by customers from more temperate areas. The company’s products are targeted to international markets especially markers which are located in North America and Europe[4]. The company targets high price point and this is one of its market strategies.  Location strategy helps the company to access many customers, supply chain and materials[5].

Layout Design and Strategy

Layout design is a key element valued most in this company. This plays a significant role in evaluating the human resources, technology among other factors required to run out the business activities. On the same note, the company uses shoppers’ behaviors which encompass consumer behavior and standards. For example, the company places jackets near the entrance and this gives customers the opportunity to admire the product and the need to find more selections[6]. The company has the best physical arrangement of facility. There is optimal arrangement of people, materials and activities.

Human resources and Job Design

 Under this management, Canada Goose has continuous recruitment and this helps in maintaining operations management. It also has standardized job processes which are achieved through training programs. The company is interested with adequacy and maintenance and to achieve this, it ensures internal leadership development as well as evaluation of jobs. Since the company has variety of jobs, the company assigns different jobs. All workers have personal responsibility and obligation to produce positive results. There are various HR programs for personnel development.

Supply chain management

 Canada Gooose has effective supply chain management which aligns with strategic goals of the company.  With excellent supply chain, there is efficient production. Suppliers, distributors and retailers align with automation and optimization, thus achieving the goals[7].  The company focuses on cost-effectiveness in using owned production facilities.

 Inventory management

 Canada Goose focus on effectiveness and efficiency maximization. To minimize inventory costs,   it employs monitoring in supply chain. The strategic decision is important in that by monitoring non-capitalized assets, it minimizes loss and maximizes profits[8].  The company has a good inventory control system which ensures effective purchasing, shipping, warehousing and more.  

Scheduling

Scheduling in Canada Goose Inc. is mainly concerned with the supply chain and business operations.   The company ensures effective coordination between the distribution and retail, and ensures proper alignment with business operations. It has standardized schedules and the condition of the market such as demand leads to supply chain adjustment[9]. Generally, scheduling in Canada Goose is flexible in order to produce excellent business process schedules.

Maintenance

 Canada Goose focus on maintaining human resources. It ensures availability of training programs to maximize effectiveness and efficiency[10]. The company has career development strategies and workforce for maintain facility. The former ensures that employees work in a good condition and there is no employee turnover. The latter maintains the equipments and buildings[11]. The role played in these areas maximizes effectiveness and efficiency[12]. In order to meet the demand in international markets, the company maintains the business processes. It has implemented HR and IT which play role in maintenance.

Work cited

Wild, Ray. Essentials of Operations Management. London: Thomson Learning, 2003. Print.

Mahadevan, B. Operations Management: Theory and Practice. Upper Saddle River: Pearson, 2010. Print.

Arora, K C. Comprehensive Production and Operation Management. Bangalore: Laxmi Publications, 2004.

Print.

Chary, S N. Production and Operations Management. New Delhi: Tata McGraw-Hill, 2009. Print.

[1] Wild, Ray. Essentials of Operations Management. London: Thomson Learning, 2003. Print.pg 4

[2] Ibid pg 7

[3] 1bid 8

[4] Arora, K C. Comprehensive Production and Operation Management. Bangalore: Laxmi Publications, 2004. Print.pg 67

[5] Ibid pg 90

[6] Ibid pg94

[7] Mahadevan, B. Operations Management: Theory and Practice. Upper Saddle River: Pearson, 2010. Print.pg 8

[8] Arora, K C. Comprehensive Production and Operation Management. Bangalore: Laxmi Publications, 2004. Print.

78

[9] Ibid pg 67

[10] Ibid

[11] Chary, S N. Production and Operations Management. New Delhi: Tata McGraw-Hill, 2009. Print. Pg. 13

[12]

Chinese tea cup

For developing a cogent project is to establish what the existing state of knowledge is around it. It involves amassing a range of sources. You should draw on experience in section (library searches, how to reference and cite), as well as in lectures.
You should have a summary (typed, double spaced, 12-point standard font, 1” margins) of what you found and how your thinking on your topic has evolved. Re-establish your research topic. How has your topic become more specific? Are your original questions (if you posed any in Assignment #1) answered? What do “we” know? What do “we” not seem to know? Who is the “we”? Are “we” geographers or some other intellectual community? Where appropriate, you must cite work from the bibliography as evidence of your statements, facts, and claims. Citations must be correct for full credit.
Attached to this update, you should have a running bibliography. It should be in correct and consistent format. It should have at least ten (10) items in it (more is better). They should be relevant to the topic.
it can be a wide range of sources such as
--Textbooks, Dictionaries or Encyclopedias on a topic (e.g. The Dictionary of Human Geography entry you cited in Assignment #1, additional entries or citations from them)
--newspaper articles
--magazine articles
--editorials, blogs, and opinion pieces, etc.
--Wiki sources
These sources can be online or hard-copy, but regardless they must be listed correctly and consistently in your running bibliography. You may use these non peer-review sources to establish background and relevance of your topic, opinions and perspectives on the topic or issue, but you must clearly distinguish between peer-reviewed and non-peer reviewed sources. You must keep an electronic copy of your bibliography, as you will be adding to it for the next assignment.

For my topic you can write about the increase of tea culture in US, and be more specific about the quality of life, health benefits and so on. Plus it would be better to give a definition of traditional Chinese tea culture through the research online. Such as when we say Chinese tea culture it refers "kung fu tea", which simply means we have to give a definition to the "Chinese tea culture" first.

In the attach is Assignment 1, you can write this paper based on some information in my assignment 1.

Please include at least 10 online sources related to the topic.