Research about Hotel Marriott

Part I

Values of the Hotel chain/group

Marriott hotel’s values have remained the same as the group believes in consistency. The core value is that the group considers people as the primary priority, excellence pursuit, changes embracer, performing with integrity in serving its world (Marriott, 2017).  Marriot as an international group has a well established history as well as a flourishing culture.  The hotel chain believes that when the associates are well handled then the consumers will be well addressed as well.  Associates and consumers are the major determinate of success and therefore an opportunity for growth must always be provided (Marriott, 2017).  In addition the dedication of the group to the consumers demonstrates its objective of pursuing excellence. The hotel believes in offering quality services and food at favorable prices in order to retain its consumers.  Due  to the fact that it is a global  business  it embraces  change through innovativeness  as part of the  present  hospitality  field. The chain additional upholds legal as well as ethical standards in strengthening and serving its world (Marriott, 2017).

Part II

Marriott is an international corporation that is among the top multinational American hospitality corporations that are diversified. The corporation was founded in the year 1927 by Marriot J. Willard but is currently administered by Marriot Bill his son and the CEO Sorenson Arne (Marriott, 2017).  Its head-quarter is situated at Maryland, Bethesda in Washington. The  Marriot hotel chain was the first  to offer  food that  is fully free  from  trans fats and it is well known  for its offering of a Holy bible  and Mormon book copies  in  all  its rooms.  Marriot has thirty international brands which fall under the following brands categories classic luxury, distinctive luxury, classic premium, distinctive premium, classic select, distinctive select and distinctive and classic longer stays (Marriott, 2017).

            Reference

Marriott. (2017). Marriott’s Core Values and Heritage. Retrieved from http://www.marriott.co.uk/culture-and-values/core-values.mi

Marriot. (2017). Explore our brands. Retrieved from http://www.marriott.com/marriott-brands.mi

Status Report

Goal Statement:

The primary goal of the study would be to establish the major causes of poor leadership thus striving to apply leadership models to help in transforming the existing situation at the corporation as well as establish the causes of staffs’ dismissal.  The objective of the study is to ensure that appropriate leadership styles are applied in the organization to solve the issue of performance.  Effective leadership is essential in achieving development and high performance in any organization. The organization is currently faced with low performance and high employee turnover which implies that something might be wrong with the type of leadership that is being used. The key questions for the intended respondents would include stating the following

Is Yahoo’s Inc leadership style effective? What are some of the transformations that you personally should be performed to increase efficiency?

Which leadership model do you propose for the changes and why?

What are some general effects of the existing leadership whether negative or even positive in regard to performance and employees productivity?

Period Covered:

Constituents:

The key consistent in the present study are stakeholders and colleagues.   My colleagues are stakeholders in the case since they are helping with the designing of the research and particularly the research questions and they will participate in interviewing the respondents.  The stakeholders are basically Yahoo Inc representatives who will help in providing data regarding the corporation.  My role is to coordinate my colleagues in gathering information and getting consent from the representatives.

Leadership Approaches:

With the use of the acquired knowledge, I have tried to analyze the leadership in the organization based on its impact on performance. My general knowledge in regard to leading capabilities and leadership has informed my observation and analysis highly by establishing that the corporation needs to apply an effective leadership model. Democratic, servant and transformative leadership models are the ones that I have applied since they are effective in boosting employees’ morale, improving performance as well as the general productivity (Iqbal, 2011). By utilizing the capstone to develop my knowledge and skills through understanding the qualities of a good leader and how good leadership impacts performance.

Progress to Date

The significant achievement to date has been the establishment of the need for a better leadership strategy and how performance can be improved.  I have communicated the achievement with my colleagues who are helping with the structuring of the research activities.

Issues

The obstacles that I have encountered are time, resources as well as the unwillingness to provide accurate and reliable information regarding the corporation. The strategy that I have implemented in obtaining data is informing the respondents that the information will be confidential through using a consent form to get their permission. Privacy has become a necessary issue to solve through enhancing confidentiality. The issues have necessitated my leadership to make consistent and creative decisions.

Next Steps:

The significant events that are planned for the following two weeks are conducting interviews, distributing as well as gathering questionnaires.

Self Assessment

My effort in this capstone is limitless and I am performing at my potential.  Trying to understand the underlying leadership issue and effects in Yahoo Inc has been a task.  The experience will be essential in developing my skills and abilities in regard to leadership. I anticipate ensuring that the study is a success as a way of testing my leading abilities through practice as a way of gaining more experience.

Addenda

A Request for an Interview

My name is…... undertaking a leadership and development study with my company selection as Yahoo Inc.  It would honor my interests if you would participant in the study.  Confidentiality will be maintained as the researcher will be directly involved in the analysis of the collected data. The research is of much significance towards to the contribution of my learning. I hope you will consider my request.

Thank you.

            Reference

Iqbal, T. (2011). The impact of leadership styles on organizational effectiveness: Analytical         study of selected organizations in IT sector in Karachi. Munich: Grin Verlag.

Fashion Store in Armenia

Introduction

The fashion industry is rapidly gathering its economic success through its persistent dominance.  Fashion is a thing that has remained to be a top priority for most individuals and particularly in the modern society.  Everyone is highly familiar with fashion in terms of trends as well as the changing consumer’s tastes and preferences.  Fashion to most is a sophisticated and a trendy strategy.  However, it is good to note that the modern lifestyle is highly controlled by fashion that most individuals would note (Bierman, 2012).  The fashion industry does not only impact clothing but also every aspect of individual’s daily living.  The fashion industry is made up of four different aspects that contribute to its success which is design, manufacturing, retailing and advertisement.  To the modern society and the media, environment fashion is everything. The industry has changed lately by becoming a primary necessity into the lives of individuals.  Every individual deserves to be attractive, gain the sense of fabulous as well as fit into the society.  This, therefore,   increases the desires and willingness to purchase fashionable accessories, clothes, shoes as well as handbags.

Despite the fact that the fashion industry is rapidly establishing its effectiveness across the globe most of the developing countries have been left behind.  The sense of fashion is slowly getting into the developing states given their social and economic status.  However, most individuals hold the perception that business in the developing state may not prevail because the economic status is low. However, this is not true since the states hold high and untapped economic potential given the opportunity to develop (Bierman, 2012).  This project will be focusing on Armenia since it one of the developing states.  The fashion industry in Armenia is very young and there are many opportunities which offer support to the prosperity of a fashion store.  The company targets the domestic market in Armenia since it is characterized by fewer entry barriers, less competition, and ease of quick progress and establishment.

The probability of succeeding in a fashion industry is higher as compared to failure that the right strategies are utilized. Today, the fashion industry is rapidly developing and this offers the actual and accurate opportunities of conducting business effectively. Armenia is characterized by a lack of fashion stores which has affected the ability of the state in fully embracing fashion changes. Ordinary consumers in Armenia are faced with the challenge of fashion accessibility which is caused mainly by the fact that fashion has not been adequately established. Technology has widely occurred and the advancement highly contributed to the advancement of businesses.  With the creation of a fashion store in Armenia, the business will be able to provide fashion trending styles to the consumers via its website and Mobile application.  The consumers can also visit the store to make purchases. Technological advancement is a strategy of embracing changes and ensuring that efficiency is achieved through the use of the acquired knowledge (Bandyopadhyay & Ramanathan, 2012).

Given the conservative nature of the market in Armenia, the business will begin by offering trendy options through creating awareness through the use of media.  This is because the market is highly unexploited and the sense of fashion that is to be introduced has to be considered not to affect the perception of the consumers. Unlike the developed nations developing states are still connected to cultural beliefs and therefore consumer’s attitude is of great essence to consider. The business will utilize social sites in connecting to the consumers as well as advertising to increase the ability to create awareness faster.  This will help in positioning the business at a greater advantage as compared to the few competitors.  The business is new and therefore adequate research has to be conducted to establish what is required to progress in Armenia’s fashion market. Less competition does not imply that the marketing of the business does not necessitate effort since the consumers have less knowledge in regard to fashion in Armenia’s market (Bierman, 2012).

Since the fashion market in Armenia is not exploited, the economic gain from the business is anticipated to be high. The economic sector has completely transformed since the adoption of globalization. Diversity and innovativeness are, therefore, a necessity in the current economic world and in particular the fashion industry.  Fashion retailing unlike other business offers an opportunity for growth since it welcomes consumers from different social status because retail shops offer products at different prices. The fashion industry contributes highly towards the economic development today.  The industry is characterized by high growth while Armenia is left behind. Consumers are ready and willing to give any indicated fashion product amount so that they may look good.  With the current trends, the business will be able to convince consumers in Armenia to gain the fashion dependence thus controlling their living. The retail shop will be established to satisfy the needs of all the consumers with varies of age and gender. Fashion is essential for both men and women and the fashion store will be offering products for both genders at affordable prices.

Due to the lack of fashion retail shops in Armenia, fashion items are characterized by high prices which additional hinder the efficiency of the fashion market in the country.  This presents the opportunity for the fashion business shop to establish itself easily by attracting a high number of consumers. This will be achieved through the offering, quality, trendy and affordable products.  Consumers are highly willingly and ready to purchase quality as well as affordable products that do not affect their ability to perform their daily activities.  Through offering affordable products the business will gain loyalty from the consumers by ensuring that their needs are satisfied.  Satisfied consumers are a primary determinant of success and efficiency in the business can best be achieved through increased sales. The fashion industry offers a consistent economic opportunity since fashion keeps on changing meaning that the business is always in operation. The progress of the fashion industry in Armenia is mainly affected by accessibility and affordability.  Since the capital for starting the business is high given the condition of the market, the business will mainly acquire its capital from the owner and some from a bank loan to sustain its first year’s operation. 

The project is aimed at analyzing and evaluating Armenia’s fashion market in order to establish the feasibility of the fashion store in the state.  In other words, the project will seek to establish the factors that hinder the ability of the fashion market to progress.  This will illustrate in the current consumer's consumption trend and the rationales behind to ensure that the business is well established.  The project will, therefore, be gathering respective information in regard to the current fashion market and its economic contribution. The market analysis will be utilized in setting and developing to business to enhance the general chances of success in general.

Literature Review

The fashion industry in the modern society has transformed and particularly in the recent twenty or so years after the expansion of business boundaries become formal.  The transforming dynamics  of the fashion industry  since the particular time,  which includes mass production fade, an  increment  in the fashion  seasons numbers and structural and modified  features in regard to  supply  have pressured  retailers  in  gaining further  interest  in low  cost  products, diversity and flexibility in regard to  quality, cost,  delivery and services  speed. Affordability, as well as quality, has been established to be the primary factors of high competitiveness particularly in the industry of fashion (Bierman, 2012). The fashion industry presents a demanding and a highly dynamic market thus necessitating the necessity for retailers to maintain consecutiveness with consumers as well as suppliers to enhance products consistency (Schulz, 2015).  Today, the fashion market is characterized with high competitiveness which is influenced by marketing approaches and the ability to satisfy the needs of consumers without fail.

With the high rate of competitiveness in the fashion  market today there is a growing necessity to keep refreshing the ranges of products which is the  current strategies in which retailers utilizes in order to increase the seasons frequencies. This is a high suggestion of the low life series which increases sales thus generating higher profits generation (Carrigan, Moraes, & McEachern, 2013).  In addition consumers in the fashion market prefers to purchase products from retailers because of the availability of varieties and immediate satisfaction with affordable prices.  Fashion is described as the expression that is highly accepted by a certain group of individuals over a time period and this is featured by different marketing aspects like market demand volatility, unpredictability, shorter existence sequences and high purchase rate.  In order for profitability to be fully achieved  in the industry of fashion, fashion products  retailers are required to adopt a market speed  approach in ensuring that fashion is capitalized which does not exist in the competitor's products (Saetang, & Pathomsirikul, 2016).   Based on the recent studies, it has been clarified that alertness and responsiveness via fast inclusion of customer’s predilections into the procedural designing in developing fashion products increase the ability to generate more profit for retail operators.

Fashion in the economic world as per today operates within a business surrounding that is highly competitive.  The fashion retailers markets require speed in providing the trending fashion and establishing reliable sources to gain more benefits against the competitors.  Fashion is the nature of being special and dynamic in enhancing the needs of consumers (Ross, & Grace, 2012). Fashion changes very quickly and everyone is in need of getting the unique fashion products to fit in well in the modern society. Investing in quality is essential in ensuring that consumers gain the will to buy the products.  The fashion industry is amongst the most significant and innovative industries.  The fashion industry has offered the economical idea in regard to enhancing production and ensuring that it is consistent with consumption (Cepolina, 2013). 

Fashion is a depiction of economic, social, cultural as well as political transformations in the current society.  Fashion is basically the expression of modernity which depicts preferences in regard to different periods.  The fashion industry unlike what most individuals think is focused on gaining loyalty and increasing consumption rather than focusing on profitability.  Profitability is a benefit of the good performance of the industry in the market today (Cepolina, 2013).  Today, the activity of defining fashion is a complex and challenging task. Fashion trend to be concise, are a basic reflection in the context of economic and societal transformations.  Fashion is a significant aspect of both arts as well as the economy. In order to gain a better understanding of why some goods performs better in certain markets as compared to others can best be understood through a market analysis. This, therefore, implies that not all fashion products will perform well in all market.  Every market has its own influences that must be considered.  In that, some state’s cultural, economic, political or social aspects might be hindering the ability of the business.  This helps in the identification of undesirable and favorable factors as well as their general impact on the business (Ozuem, Patel, Howell, & Lancaster, 2017).  The fashion industry is highly unpredictable and therefore it requires high knowledge extent in ensuring that efficiency is achieved. Operating in the fashion industry requires the implementation of effective marketing approaches as consumers should be highly informed of the rising trends. 

The fashion industry holds the highest degree in increasing sales throughout all the annual seasons. Fashion is basically the expression of consumer’s emotions and therefore supports the theory of greater sales of products being economically beneficial (Cepolina, 2013). Fashion retailers have the ability to control consumption by ensuring that they supply the products that the consumers need in a particular period.  The supply, demand, and consumption of fashion products are always high as fashion trends vary from time to another.  Despite the fact that fashion is not a constant thing the ability of a fashion business to grow is supported by trends as well as fashion changes.  This implies that individuals are required to make a constant purchase of fresh products in order to maintain their appeals. The constant transformations of fashion in the capitalistic modern society necessitates the use of an effective marketing approach in gaining awareness in regard to trends and ensure that the human preferences are satisfied (Oeppen, & Jamal, 2014).

The fashion industry is rapidly establishing its progress and presence globally.  However, most of the developing and underdeveloped nations are still facing the issue of fashion products and trends inadequacy because the market has not been exploited adequately (CHRÉTIEN-ICHIKAWA, 2015). In addition, the state is characterized with fewer fashion shops which make it difficult for consumers to access products and trends when needed. With the few shops, this implies that fashion products are offered at high prices which lower the consumption rate.  With the existing competition, retailers are offering fashion products at decreased prices based on the flexibility of the market (Melchior, 2012).  This is helping in ensuring that the sales rate remains high-profit margins. 

The fashion industry is not mainly targeted at a certain group since fashion is certainly a thing for every individual. As the customers market is segmented on the basis of consumption sequences, constant and fast fashion changes is speedily gaining its significance to the consumers.  Trends, as well as fashion-related data, are moving fast around the world and this leads to the capability of consumers having options to shop and choose from (Mooi, & Sarstedt, 2012).  This, therefore, implies that the rate of products purchases is also increased.  Transformations in lifestyle which are occurring due to social cultural aspects and the uniqueness necessity are pressuring the fashion retailers to constantly update their products in dealing with the increasing competition.  The consistent and varying consumer’s demands have highly affected the forecasting since more quantities are required within a short period (Lueg, Pedersen, & Clemmensen, 2015).

Industry Size and Growth Rate

The fashion industry is currently providing more jobs than most industries that are doing well currently.  The fashion industry is highly contributing towards the economic growth as per today (De Beukelaer, 2014).  For Armenia, t is characterized by a high inflation rate of about 5.8 and a gross profit domestically at 3.5 percent.  Armenia is located at a historical, cultural as well as the religious intersection amid Asia and Europe. The state is a low-medium income state. However, its social-economic situation is on the rise since it is slowly achieving stability. The fashion development rate and size in the state are very low as the market remains highly unexploited thus making the growth rate of the fashion industry to be slower. The international fashion market value is predicted to be over $3billion thus accounting for a 2% of the entire global GDP.

Industry Structure

The fashion industry has been impacted drastically by technological advancement. However, the necessity of sourcing materials, establishing products manufacturers that suit the budget of consumers maintains the industry’s structure thus sustaining decreasing retailing prices.  The fashion business is a large industry (Lion, Macchion, Danese, & Vinelli, 2016).  The rapid growth of the fashion is a result of the  growing period's  changes which is accompanied by continuously changing fashion necessities. The fashion structure ranges from the provision of raw materials, manufacturing, distribution as well as retailing.  Retailing stands to be the most effective aspect because it is objected at enhancing better relations amid the consumers and the products. Merchandiser’s role is unique and strong since there are wider products ranges.  Distribution is mainly accomplished through the general process of products supply by brokers. Manufacturing relies on the information that they receive from the market in producing products that are needed in the market (Armstrong, Connell, Lang, Ruppert-Stroescu, & LeHew, 2016)

Detailed Business Idea

Establishing a fashion store in Armenia would increase the availability and accessibility of fashion products to the consumers. The business is mainly targeting women as well as men as the primary consumers since the market is in high need of products supply. There is a high potential for growing the state’s market given that there are fewer competitors and more consumers who are willing and ready to buy the fashion goods (De Souza Libânio, & Gonçalves Amaral, 2017).  Since the social economic state of the nation is growly slowly the business will be objected a delivering high quality and affordable services and goods. The fashion industry in Armenia is not established and this provides an opportunity for the business to exploit the market.  The fashion industry is highly characterized by success and given the market condition, the business will prosper. The country’s economic market is characterized by less slow growth and this is because its potential remains untouched.

The fashion industry is rapidly developing given the nature of globalization (Ho, Zheng, Yildiz, & Talluri, 2015).  However,  the domestic market of the fashion market  is essential as it demands the supply of fashion products, efficiency is primarily characterized by  high demand, high supply, and high sales will be the case in the market. The fashion store is a starting retail business that will be offering fashion clothes, shoes, and related accessories to both men as well as women at affordable prices. The store will be located in Yerevan the capital center to increase accessibility of and speed in delivery.  The retail industry of fashion goods seems to be highly focused on the youths.  However, the store will be offering products that are based on the preferences of consumers.

Market Gap

Fashion products are not highly accessible to the common individuals because of the high prices. In addition, there is the scarcity of fashion stores in the nation which makes the availability of fashion produce to be very low.  Armenia provides a suitable environment for the exploitation of fashionable and trending products based on its cultural, modern and religious setting.  This offers a good economic surrounding of conducting business that is characterized by less political or economic hindrances.  However, the supply of fashion products in the state is very minimal.  Fashion is essential in bringing out individuals expression (Hailin, Joyce, & Jun 2016).  However, this is not the case in Armenia since the fashion sense has long been left by that of other states.  In addition, more stores seem to be offering women’s fashion products only because they are associated with higher sales.  However, the need to offer men’s products is ignored.  This makes the market to be incomplete as fashion is not only for a single gender.  There is, therefore, a need to offer high trend and unique products for both men and women and especially the young persons. In that, it will help in closing the existing gap in the state’s fashion market.

Marketing Mix Analysis

The marketing mix of the fashion store in Armenia will be handling the primary strategies and approaches that the corporation will be utilizing in gaining and maintaining a leading status. 

Products

The corporation will aim at gaining competitiveness in clothes, shoes, and accessories that are highly styled for both men and women.  The component of the company’s marketing mix will be a direct reflection of its products that it will be offering to consumers.  Shoes and clothes are highly fashionable and popular amongst all genders (Ho, Zheng, Yildiz, & Talluri, 2015).  The products will only be available under quality brands

Place

The company will be selling its clothes and shoes products via a wider range of outlets which will be online supply and retail shops. Retail shops are highly effective in increasing sales since the physical location offers more confidence to the consumers (Hailin, Joyce, & Jun, 2016).  On the other hand, online stores will offer to convince, speed and loyalty through easy access to goods.

Promotion

The business will be depending on effective marketing approaches in growing and sustaining a strong reputation.  This will be accomplished through the following: advertisement, public relation, sales promotions, direct sales and personal selling (Guercini, & Runfola, 2012).  These approaches are the most effective in increasing brands awareness and developing greater relations with consumers. Direct marketing will involve the use of persuasions and in the occasion, the corporation will give discounts and different offers to increase sales. The advertisement is highly known for its ability to reach more persons within the shortest period (Gustafsson, Jääskeläinen, Maula, & Uotila, 2016).  In addition, the strategy is highly convincing and persuasive and this ensures that there is an effective flow of understanding amid the business and the consumers. Promotion mainly deals with the approaches that are being utilized by the business in ensuring that there is constant communication with the consumers (Hailin, Joyce, & Jun, 2016).  The responsiveness of consumers is, therefore, the primary aspect that is utilized in measuring the efficiency of the strategy.

Pricing

The corporation will be utilizing a value-based approach in enhancing profit as well as sales.  The corporation will be accounting for the perception of consumers in regard to certain products to determine its prices.  The strategy will help in ensuring that sales remain constant (Granger, 2012).  This strategy will definitely be lower than what is being offered currently in the market and it feels to be fairer to the consumers since their satisfaction is equaled with the pricing. Pricing is a major determinate of sales since in Armenia the low consumption of fashion product is influenced by high prices (Goedhuys, Janz, & Mohnen, 2014). Pricing will, therefore, help in creating a better image for the corporation which is highly necessary for increasing sales and building a name for the corporation.

Target Market

The fashion store will be a retail store whose target’s consumers will be both men and women of between 4 and 45 years. The target group was selected since it is characterized by higher buying and demand for fashion rate.  Having a younger generation as the target consumer is effective as it ensures that high sales and increased profit margins are enhanced. The young consumers have the tendency of changing their clothes and shoes more often which is controlled by fashion.  This will, therefore, work in maintaining the sales consistency thus increasing the profit margin and building a better name for the corporation.  In addition, since the corporation will position itself with the use of differentiation, online sales as well as marketing this is the best target market.  In that, the target market is more involved in the use of social sites which may increase awareness and boost sales.

Competitor’s Analysis

There are no primary competitors that offer unique and classic women and men’s fashion products in Yerevan.  Most of the competitors in the city, however, offer women clothing.  The competitors are Stradivarius, Nana, Promod Real Store, Mango, Karen and Milen and Colombian fashion.  The shops only offer women fashion and their pricing strategy is market-based which means that it is particularly higher that what the business is targeting to offer in challenging competition. The competitors fail to offer fashionable products since they are mainly based on offering women’s clothes and the products cycle is not short.  This, therefore, places the fashion store at an advantage because it aims at offering products that are highly moving to reduce the sales cycle.

Positioning

Positioning deals with how a single store competes with another.  The position of the store will begin by defining the targeted consumers through establishing needs and uniqueness.  The corporation will position itself through the use of differentiation by ensuring that it offers special products for both genders at affordable prices.  In addition, positioning will also be achieved through branding and the use of social sites to connect and market products. Differentiating is the best position strategy despite the fact that it can easily be copied by the competitors (Girneata, & Dobrin, 2015).  Differentiation will additionally be accomplished through the segmentation of the market in terms of preferences and taste of the consumers. The corporation will differentiate its products through offering low prices, branded as well as customized goods.  This will help in making the corporation to increased levels.  Offering quality and affordable prices will be effective in attracting more consumers as their needs will be satisfied immediately (Evangelista, Lucchese, & Meliciani, 2015). The use of social media is objected at reaching a wider market within the nation through offering online sales where deliveries will be made nationwide at decreased prices.

Methodology

Research Method and Design

This section of the study was particularly handling the investigation part of the research.  This involved the analysis of the previously generated information in regard to the fashion market status in Armenia and the feasibility of establishing a fashion retail business in the country.  The research utilized random sampling approach incorporation with exploratory research design. The research method was seeking to establish the relationship between the social economies aspects with the progress of the fashion business.  Exploratory research was selected in order to offer an exploration to the research queries thus offering grounds for more research.  The research design was preferred for the study because it is associated with high compliance and elasticity to changes (Vogt, Gardner, & Haeffele, 2012).  In addition, the   design is effective in saving resources and time.  Based on the distant of the state’s case study the researcher had no capability to access the location due to financial and time limitations.  The design, therefore, assisted in the identification of the appropriate studies to utilize early enough.  Moreover, the design is effective in establishing basic work and creation of hypotheses to be utilized in further research (Benjamin & Kit Fai, 2014).

Information was identified through search engines where studies were the articles that possessed the needed primary words were randomly selected to increase efficiency and accuracy.  This approach is significant as it enhances reliability as well as accuracy in the collected data.  Primary data was gathered through an exclusion of data that had been obtained through the use of qualitative and qualitative research which involves the use of questionnaires, observation, survey and interviews. The methodology and design were deselected to ensure that maximum data is acquired to support the analysis and evaluation procedure of the research (Vogt, Gardner, & Haeffele, 2012).  The design is associated with the capability of generating adequate information since it is descriptive in nature.  This was achieved through the utilization of both secondary and primary sources.

Feasibility

The existing fashion stores in Armenia provide fashion products based on preferences only. However, uniqueness and increased retailing knowledge is something that lacks in the market. The corporation’s plan is to merge knowledge based as well as exceptional consumer services with trendy and quality products.  This will, therefore, result in the provision of desirable shopping experience to all the consumers (Setiowati, Hartoyo, Daryanto, & Arifin, 2015).  The mission of the fashion store is to provide both men and women with an increased selection range of flattering and trendy products.  The primary objective is to ensure that  the corporation  is established as the leader of the domestic  fashion market  that is characterized by trendy products. This will, in turn, create an image for the corporation that will be identical with the revolution of the fashion (Skov, 2012).  The business can be able to set a fresh strategy in the market via the use of the differentiated strategies.

The corporation has outsourced its inventory provision from several wholesale providers. This includes the manufacturers of garments, clothes and shoe wholesalers and different online fashion developers. Since the internet has highly stabilized in the living and retailing world in the Armenia’s society, the fashion shop will be utilizing an online website and a mobile application that is fully feasible.  The corporation intends to design the modest prices in order to create a better future with high profits in the future.  The capability of purchasing goods online will be influenced by the showcasing of the corporation’s services and goods.  Differentiation is something that is missing in the fashion market in Armenia. Therefore, additional to price, brand and marketing differentiation the fashion store will customize its services.  As the business develops, fashion advice and tips will be offered to the consumers, fashion articles and interviews analysis to the internet users. This will eventually lead to the establishment of an online fashion community where both female and male consumers can interact, network and engage in fashion trends discussions. This will ensure that the objective of ensuring that the consumers are the primary priority of the business is achieved (Torres, & Gardetti, 2013).

Effective marketing is an essential aspect of efficiency since marketing is the primary determinant of development.  The fashion store recognizes the essence of effective and appropriate marketing.  The corporation, therefore, anticipates that its approach will gather consumers to the store in a consistent manner.  The public relation approach will be accomplished with the use of a cost-effective strategy through developing a marketing plan.  Through the use of logos and mottos in our customized products, the idea will create a trendy revolution in the fashion industry domestically. The young generation is primary and is particularly the best and therefore, their needs should be recognized and addressed immediately as they are the primary drivers of the economy (Vezzetti, Alemanni, & Macheda, 2015).

It was established that most stores utilize more resources in marketing thus lowering their profit margins.  The objective of the fashion store is to maintain low marketing cost through partnering with the established organizations in the state.  The partnership is aimed at creating more publicity within the given demography.  The marketing efforts of the stores will be maintained locally while attempting to establish a large presence in the community.  Branding and building a name for the fashion stores is an additional issue that provides higher opportunities to the business.  Most of the fashion stores are not well established because of low branding efforts. An advertising campaign would work best in the type of market but it is associated with a high cost. The market offers the perfect opportunities for the best opportunities in the application of the best sales strategy.  The market is characterized by less competition which means that the feasibility of persuading consumers is very high.  Sales will be created through the use of effective marketing strategies.  Armenia offers a great and a large market for fashion products despite the low exploitation.  The market also has lowly priced marketing strategies and thus the business is ready to take the advantage in gathering maximum benefits.  The consumers in the target market are less informed about fashion which is both external and internal trends.

Since Armenia is a culturally and religiously attached state most of the business operates six or five days every week.  However, for quick establishment into the fresh market, the fashion store will be operating in all the seven days of each week for eight hours.  In this, the retail store is anticipated to create a more improved establishment in the market.  Employees will be hired on a part-time basis to offer direct services to consumers as the co-owners of the business will be working full time.  Products will be outsourced locally and internationally since the market in the country is not well established and therefore, it does not have much to offer.   High management of stock and tracking of inventory is an additional aspect that results in the fall of business and the fashion store will consider proper management.

The fashion industry can be regarded as a physical business due to the continuously changing trends and the consistent demand from the consumers.  The previous decades have been ruled by high shopping centers, while currently the retail stores are rapidly rising with the aim of leading and bring transformation (Ho, Zheng, Yildiz, & Talluri, 2015).  Consumers are now searching for wider range, affordable and consumer-friendly shopping occurrence.  This is particularly for the young persons who are highly involved in fashion.  In the real sense, Armenia is characterized by a high number of persons between the ages of 10 to 45. This, therefore, implies that the target market is likely to remain to be the highest in terms of consumption as compared to any other.  The change of consumption is not expected to be observed for the following twenty of more years. Even at the particular period, the demand for fashionable products will still remain high since fashion is a consistent thing.  The fashion market in Armenia has been left by the trendy movement since it is still very young. In order for the business to grow there is not much that is required in the Armenia since the development of the business is influenced by the social and the economic state in the state.

Armenia holds a healthy and a lowly competitive fashion retail market.  The primary shopping center is the capital city of the state which makes it hard for those that are located in far distances to access products.  The population of the city is, however, higher as compared to that of other states with a higher number of women as compared to men. Most individuals in the state are medium income generators and the average population is middle-aged.  However, the social and economic world of the country is healthy which makes it efficient for businesses to progress. The country may serve best an economic hub through investments since the population highly supports economic progress.

            Primary and Secondary Market Research

            Primary and secondary fashion market research was conducted through gathering information from reviewed journals, books as well as articles to increase the credibility of the study.  The sources were established through the procedure of data analysis where relevant sources were identified through the search using primary words.  The resources were selected on the basis of documentation, accuracy, complexity, completeness as well as reliability.  From this  research it was established  that  the fashion  industry  is highly feasible in  open market  and especially those that are characterized  by a higher  consumer segmentation.  Developing  nations provides  better  grounds  of establishing  a fashion business since they are  characterized with  low  market  entry barriers  and less competition.  In addition since the markets are usually not established it is easy to persuade the consumers to buy goods.  However, what make the goods purchasable in the market are accessibility, availability, uniqueness as well as affordability.  Most of the consumers are willing to change their fashion products more often if the goods are easily accessible and with favorable prices.  The fashion industry is highly elastic which means that it requires high commitment to consumers preferences tastes as well as differentiation.

            Resource Evaluation

            The utilized resources for the project were peer reviewed articles, books as well as journals which were conducted on the view of the fashion industry’s feasibility.  The publications that were selected were from five years old and below to ensure that accuracy and reliability were maintained.  In addition, the information was more relevant in answering the study questions for the research since based on the age.  The sources were selected based on their ability to answer the study’s objectives and well as proper documentation which implies that the sources were reliable.

            References

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De Beukelaer, C. (2014). Creative industries in “developing” countries: Questioning country classifications in the UNCTAD creative economy reports. Cultural Trends, 23(4), 232-251. doi:10.1080/09548963.2014.912043

De Souza Libânio, C., & Gonçalves Amaral, F. (2017). A Design Management Framework for the Fashion             Industry. Brazilian Business Review (English Edition), 14(1), 1-20. doi:10.15728/bbr.2017.14.1.1

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Hailin, C., Joyce, Z., & Jun, Y. (2016). CONSUMER PERCEPTION AND CONSUMPTION BEHAVIOR             REGARDING LUXURY PRODUCTS IN THE FASHION INDUSTRY. International Journal Of Business, Marketing, & Decision Science, 9(1), 84-96.

Hailin, C., Joyce, Z., & Jun, Y. (2016). CONSUMER PERCEPTION AND CONSUMPTION BEHAVIOR             REGARDING LUXURY PRODUCTS IN THE FASHION INDUSTRY. International Journal Of Business, Marketing, & Decision Science, 9(1), 84-96.

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Retention plan

Introduction

    The health and long-term operation’s success of any company heavily rely on employees’ retention. Human resources are the heart of any organization and thus they are the most fundamental and vibrant resources of any company. However, with the current globalization issue, human resources are being replaced with the technological resources and thus most of the human resources are tasked with running the technology while some are dismissed as the job market shift into technology-driven operations. Managing as well as retaining of the employees has proven to be one of the most challenging roles that most of the companies are facing. Securing as well as retaining of these skilled employees is core to the organization’s capability to be economically competitive. Satisfying of these employees is yet another challenge that the current employers are facing presently. However, a retention plan, as well as a strategy implementation on job satisfaction, is needed so as to ensure that customer satisfaction is attained, organizational performance is enhanced and that effective succession occurs. Therefore, employment retention can simply be identified as the encouragement process of employees within the company to remain in the company for quite a long period of time. Finding new and better employees is quite a hard task and these kinds of employees are hard to find as the job market is becoming more competitive and thus the valuable employees are increasingly becoming hard to find (Das and Baruah 2013). As a result of these issues on the importance and the sensitivity of retaining and satisfying of the employees, the paper will thus review some of the studies that have been carried out on employees’ retention and job satisfaction. The paper will also focus on discussing on the scope of the retention plan and the outcome of this process, the feasibility as well as the implementation process of this retention plan and some of the evaluation strategies that will be put in place for this retention and job satisfaction process.

Scope of the Retention Plan

    Administrative center turnover is critical to nursing as well as the patients’ outcomes as it results in the loss of qualified as well as competent nurses. However, the development of coping as well as retention plan demands that a clear knowledge of the place of work variables that either inspires the nurses to stay behind in the organization or guide them to run off the organization (Asegid et al 2010). For a strategic retention plan to be effective, devoted resources including the employees and budget are needed. The retention plan will apply to all the employees’ positions in the entire pay plan within the company. The scope of the retention plan will be determined by the implementation of the processes that will enhance the incorporation of the employees, processes as well as the systems with performance and output enhancement within the organization. It will call for an ongoing devotion towards partnering between the management and the employees so as to foster a strategic approach to shaping the employee's retention plan and workplace design. This will involve the deep understanding of the employees’ team makeup, the environment in which they are working in the present and that which they will work in the future, their abilities, aptitudes and the necessary proficiency that is needed in the organization so as to attain their business outcome in the ever changing and competitive environment.

    The retention plan will address the retention goals of the organization as this will help in identification of the specific key workers that the organization does not want to lose them leaving. Retaining of all the employees is rather unrealistic and thus the organization must focus on the goal of retaining only the high-performing employees and those supervisors that the company feels that they have brought improvement and are capable of even bringing more developments within the business. This retention plan will then carry out employees’ surveys and exit interviews after determining the most valuable employees that the company wants to retain. This process will enhance the measuring of the extent to which these employees like the environment of the workplace and some of the changes that they would love to see in their jobs and in the entire company (Das and Baruah 2013). Employee surveys will focus on the current workers’ comments while the exit interviews will focus on the departing employee’s comments. Encouraging on the management support is quite important in achieving the retention plan outcome. This is because of the fact that managers are responsible for the assigning of duties that are challenging onto the employees thus keeping them fully engaged in their work and thus making them be excited about staying in the company. Thus as the retention plan is implemented, the managers are held accountable for the improvement of their employees’ retention and in the monitoring of their turnover rate. Retention measures will also be taken and they will involve the measures of actions that the company is willing to undertake so as to retain some of the valuable employees. These actions are established in the retention plan and they help in the identifying some of the necessary actions that would result in the satisfaction of these employees that the company is willing to retain as per the retention plan. 

Literature review

    According to Das and Baruah, there are many reasons behind the employees turn over through the employees shift from one organization to another and the resigning of an employee from an organization. The high rate of turnover and especially for the skilled professionals poses a great threat to the organization due to the human capital cost. These employees who are skilled are highly competitive for by other competing firms’ within the same industry. Most of the nurses according to these authors are influenced by dissatisfaction at their workplaces and this is the actual cause of the high rate of turnover. Other causes as to why there is a high rate of turnover is caused by pitiable personnel policies, poor enrollment policies, poor administrative practices, poor inspiration techniques and poor complaints procedures. It is thus clear that high rate turnover in the health sector is caused by dissatisfaction with the work, poor reimbursement, unsafe and detrimental conditions, not viable expectations, challenges and unhappiness with the job scope and conflict of administration (Das and Baruah 2013).

    According to a research carried out by Tran et al, it is quite evident that employers from both the hospital as well as those in the home health care settings are viewed as very essential by their employers. Thus the retention plan for them usually involves the creation of better communication strategies between the employees and with their employer. The retention plan also includes the provision of access to research information and resources for the practitioners, professional development, and correspondence between the employer and the employees’ values (Tran et al 2012). These are the most significant and viable strategies for reaching and the retaining of the health care professionals. However, despite the provision of these retention strategies, these employees usually consider other plans such as the provision of tangible resources, support of human resources, and work safety provision as additional strategies that could be improved and implemented in the retention plan. Prioritizing on these strategies for the varied workplaces settings will greatly target most of the appropriate employees but it will majorly contribute more on the recruiting of new employees with a reduction in the therapist as well as health care practitioners’ turnover (Tran et al 2012).

    According to Asegid et al, nurse turnover is an expensive problem that will consistently occur as healthcare faces the holding up of nursing shortages with a new generation of nurses being introduced in the health sector while the incentives offered to the nurses to work for the institutions raises. However, employment satisfaction which is the achievement, gratification, and enjoyment of working is one of the strategies that are essential in contributing towards employees’ sustenance (Asegid et al 2010). This job satisfaction is not all about the high rewarding and benefits that are given to these employees but they also include the feelings that the employees get from the job place and from the kind of work they are responsible for doing. Therefore, the ability to offer quality work, opportunity to learn more and to express creativity, the sense of pride that one gain in this profession and the realization of a job well done through appreciation and reward approaches are all contributors to job satisfaction. Other factors that help in creating job satisfaction include the ability to work in a team, the opportunity to develop oneself and social satisfaction through close relationships at the workplace (Asegid et al 2010).

    According to Allen et al, turnover is a major concern that is influenced greatly by the pay issue and that the raise in compensation is one of the best strategies that would offer a solution to the turnover problem. Therefore the author suggests two methods that are involved in the retention strategies in an organization. One of the strategies is the primary kind of strategy which is involved with the general standards of the retention administration and they are intended to assist in minimizing the turnover rate across the organization. The other strategy is the systematic form of retention strategy which is involved with more workplace specific turnover forces and is thus intended to readdress the organization specific problems and is often affect turnover among some proportion of the employees. These measures can thus be mutually exclusive and thus they are the best form of retention strategies that can aid in retaining of specific employees and thus determine the main causes of these turnovers and be able to come up with measures to minimize the overall turnover rate (Allen et al 2010).

    According to Bai and Bhutto, the scope of the retention plan that will involve activities such as remuneration, training, and development, career opportunities as well as employment balance are crucial tools that are essential for the retaining of valuable employees in the organization where the employees supports each other, relates well with each other, offers each other chance to engage, employees participation, inclusion in decision making and empowerment opportunities (Bai and Bhutto 2016). This, therefore, enhances the improvement in commitment as well as the motivation of the employees thus inspiring them o perform better in terms of economic performance and their own personal development. This allows them to be satisfied and loyal to the company and this continues to give the organization an added advantage as well as a competitive edge.

Feasibility of implementation the retention plan

    The feasibility of the retention plan will be established under the cost guidelines that will be used by the organization. This will help in ensuring that analysis, as well as evaluation of all the action plans as outlined in the retention plan, will be implemented all throughout the plan. The plan will have to be undertaken on a timely basis and it must adhere to the financial guidelines thus operation of this plan will be carried out in a sound manner (Tran et al 2012). This plan will involve the use of the finances effectively and reasonably towards ensuring that the time limits are achieved. The time limit of the retention plan will be within five years where the employees could be retained for a minimal of five years within the organization. After which a review on the retention plan will be carried out and another budget will be made to cater for the action plan to be established.

Evaluation strategies

    The most important role of the evaluation strategies is to measure the progress and be able to come up with what satisfies and what does not satisfy the employees in the organization. These measurements will be inclusive of the employees’ outlook, turnover, confidence as well as the engagement level of the employees. The evaluation strategies and monitoring of the retention plan will be put into practice over a five years period and it will be guided by an all-inclusive action plan. This evaluation strategy to be implemented will describe the actions to be put in place under each and every strategic objective in the retention plan, the activities as well as the monitoring and evaluation measures to be taken. The action plan will thus enhance the provision of the framework of the new plans, explaining how these plans will respond to the current and the up-and-coming employee market challenges and will offer a brief outlook on the present training schemes and services to be offered to the nursing employees. This action plan will be regularly reviewed so as to ensure that the implementation of the plans is constantly taking place and that it is still in line with the economy (Allen et al 2010). Some of these action plans will be put in place with immediate effect as they focus on the short term goal while others will have a long-term focus since they are determined to bring about a systematic change in the nursing department. Therefore, for the evaluation strategies to be effective in their performance, an implementation committee will be making it possible. Thus they will come up with a logic model in which they will use so as to measure the performance of these plans or strategies. The evaluation strategy will thus focus on the measurement of the outcomes from the action plans that were outlined in the retention plan. These outcomes will be regularly reviewed through the execution of the plans by the implementation committee who will measure what has worked out well, what has not and the various lessons that they have learned on the retention of employees and the improvements that can be made in the retention plan. The evaluation and measurement and monitoring process will include the measuring of the employees’ satisfaction through conducting of an employees’ survey annually so as to be able to know their rate of satisfaction or dissatisfaction with the organization (Das and Baruah 2013). Another evaluation strategy will involve the initiation of employees’ interviews so as to determine the core reasons as to why they either leave or stay in the organization. Provision of flexible working hours will favor most of the employees so as to enhance them to further their studies especially those who are part-time students. The evaluation process will also be involved in the investigation of the departments within the organization that has a higher number of turnover rates. This will thus enhance the improvement of the retention plan so s to ensure that they improve on the working condition for these employees and that a minimal cost within the economic range is achieved.

References

Allen, D. G., Bryant, P. C., & Vardaman, J. M. (2010). Retaining talent: Replacing misconceptions with evidence-based strategies. The Academy of Management Perspectives, 24(2), 48-64.

Asegid, A., Belachew, T., & Yimam, E. (2014). Factors influencing job satisfaction and anticipated turnover among nurses in Sidama zone public health facilities, south Ethiopia. Nursing research and practice, 2014.

Bai, S., & Bhutto. (2016). M. HRM Practices in Improving Employee Retention in Pakistan, Where Employee Value as a Focal Point.

Das, B. L., & Baruah, M. (2013). Employee retention: A review of the literature. Journal of Business and Management, 14(2), 08-16.

Hejase, H. J., El Dirani, A., Hamdar, B., & Hazimeh, B. (2016). Employee Retention in the Pharmaceutical Companies: Case of Lebanon.

Tran, D., Davis, A., McGillis Hall, L., & Jaglal, S. B. (2012). Comparing recruitment and retention strategies for rehabilitation professionals among hospital and home care employers. Physiotherapy Canada, 64(1), 31-41.

Questions and answers

Question 9

    The porter’s five forces center on the composition of a company which makes it more competitive in the already existing market and is determined at dealing with the micro-environmental aspects that affect the business within a similar industry.  These aspects may include the competitive rivalry, new competitors, buyer control, supplier control and the threat of substitution. These aspects when they are overcome, they not necessarily make the company a leader in the market because one of the denigrations of the model is the fact that businesses are not usually in a web (Mind Tools n.d.). However, the blue ocean strategy involves a strategy that is carried out by a company in a new aspect in which its competitors have not endeavored in. porters forces are entirely based on the outlook that a corporate mechanism should meet the opportunities and the threats in the company’s external conditions. Blue ocean strategy believes in innovation and its creation in the new market space as they tap into the unhappy customers demand and in a finding of the uncompetitive market space. Therefore this strategy emphasizes on an exploration of the larger potential market that has not yet been discovered (Kim & Mauborgne 2004).

Question 14

    Evidence or fact based arguments and decisions refer to a formulation of solutions to a problem on the basis of present and prevailing information. An evidence-based approach is used in management by managers who intensely be pleased about the much that they do not know. This, therefore, allows they to be able to have the appropriate mindset and thus they are able to change their attitudes on wisdom and thus they are always ready to learn more and to even embrace change and the advancement of technology. Adoption of these technological systems helps in the formulation of solutions to the prevailing problems in various organizations and thus a good decision is realized at and a realization of tangible results in the end (Pfeffer & Sutton 2006).

Question 15

 PCO: based on the recent developments and level of performance that is being exhibited by the firm, it is evident that we need to look into the mode of practice and possibly make a few changes.

VP: it is not necessarily evident that the prevailing level of operational performance is attributed to the approach that the firm has taken; there are a number of external influences that may have been overlooked too.

Me: I strongly believe that there is a point in evaluating the way issues of technology and formulation of ideas is being received in the firm as a starting point. It is at this point that we will be able to make changes in our technology as the world is globalizing and in doing so, we will achieve all our goals.

CIO: what is the background motivating attribute that can be sued to justify such an approach?

PCO: there are a number of alternative and solidly proven models that have been put into use in the course of operation with impressive results before.

Me: I still believe in an objective evaluation and analysis that is based on these results. For instance, the level of performance reflects dismal return and a look into the systems would go a long way towards identifying the area of a shortfall. Additionally, only factual and justified models have been proven to yield desirable in the past.

Question 16

    Corporate social responsibility pertains incorporating the welfare of external stakeholders in the course of formulating and implementing strategic changes within the firm. This attributed can be included in supplier power by looking at the desires of the supplier and addressing the same in the course of the process. For instance, by offering favorable prices, the supplier would be able to meet the needs of the firm promptly out of the satisfaction. As the major and most important stakeholders in the organization’s activities, venturing to meet the needs of the consumer through a provision of quality and incentives will not only elicit loyalty but serve to increase returns for the firm. Competitors can be met through conformity to set out regulation as regards standard practice. This would not only allow for favorable rivalry but reduce the amount of litigation from this end on the firm. Further substitution and new entry can be handled by incorporating fair service and product provision practice. Additionally, striving to meet the needs of the consumer in a way that the other players don’t would necessitate the use of fair practice and as such the role of CSR in the process.

References

    Kim, W. C. & Mauborgne, R. (2004). Strategy: Blue Ocean Strategy. Harvard Business Review. https://hbr.org/2004/10/blue-ocean-strategy

Mind Tools. (n.d.). Porter’s Five Forces: Assessing the Balance of Power in a Business Situation. Mind Tools, Essential Skills for an Excellent Career. https://www.mindtools.com/pages/article/newTMC_08.htm

Pfeffer J. & Sutton R. L (2006). Evidence-Based Management. Harvard business publishing. Retrieved from: https://hbr.org/2006/01/evidence-based-management

International management

Question 1

            It is accurate to state that globalization and national receptiveness are completely opposite forces since a company that fully concentrates on one strategy will not be in a position to concentrate on the other. It is however inaccurate in the sense that the company may be in a position to perform the balancing action of focusing on both approaches concurrently. Thus this kind of company would be in a quadrant three of the prevailing conditions which will change the future to come due to the technological advancement (Hodgetts et al 2006). Technologies such as internet marketing enable the company to be high in ranking on both globalizations as well as in national receptiveness.

Question 2

A

            Joint venture approach in Taiwan and South Korea is a good entry approach. This is because the knowhow on the partners would help to make the entry smoother as well as avoid mistakes that may be harmful.

B

The implementation of the market strategy would be determined from one nation to another with an appropriate forecast on demand so as to determine the price and an analysis on the price sensitivity on different regions. Place and promotion should be determined through the joint venture partners from all these countries.

C

Visions are essential but without any experience on these ventures, then it poses a problem as it will be difficult to locate components on lower cost sites due to inefficient electrical visions.

Question 3

A fully owned subsidiary is made an attractive form of ownership through the MNC which has a total control. The company believes that the administrative effectiveness will be higher in cases where there are no outside partners. Although many of the MNC prefer to have the joint ventures since the host nations often feel that the MNC are trying to attain an economic power through the setting up of local operations but they are refraining from taking in partners locally. They also fear the fact that the MNC will drive the local enterprises locally.

Question 4

A

The current issue in Australia is that there are higher rates of multinationals who are interested in tapping the Australia market (Hodgetts et al 2006). Doing business in Australia is far much profiting as the country has increased demand for financial services.

B

The manager will be the overall decision maker; a small number of senior managers will be hired from US while the rest of the employees will be hired locally.

C

New organizational structure such as the joint adventure will highly benefit the MNC and the operation should be decentralized.

Question 5

            Threat of a new government reinstating the existing Russian government is one of the threats that a company entering Russia would face. Another threat is the friction within the country due to the unstableness issue in Russia which could pose a negative effect to the firm. Another threat in Russia is the trouble that Russia faces in transitioning into a market oriented economy (Hodgetts et al 2006). France on the other hand has strong improbability avoidance, strict legal regulation and government instability. It is thus evident that both countries face instability issues which have a negative influence on the company.

Question 6

            Incorporating some of the Iranian partners would be the first step that the company would take in setting an operation in Iran. This would attract the government into looking more favorably into the company. Another step is that the company should minimize the issue of high technology in the company thus making it less profitable for the Iranian state government to confiscate (Hodgetts et al 2006). Finally, the company could generate interdependencies which may involve obtaining of an affiliate that relies on the parent firm for main areas of the operation. Pro active strategies allow for establishment of stronger relations between the MNCs, the government and some of the stakeholders before the rise of a conflict thus giving them a negotiation platform when the political uncertainty causes alterations to arise.

Question 7

A Brazil is still undergoing political instability.

B

Corporations that are interested in Brazilian investments should adopt proactive political strategies so as to affect both the government and competitors.

C

Companies that are able to adapt to the culture as well as the variety of policies will be the most benefiting ones in Brazil.

D

The companies should not consider pulling out of Brazil, but they should plan and strategize on how to handle this policies and they should realize that the higher the risk the higher the profit margin.

Question 8

            The German company is most probable to have a much more centralized decision making process as compared to that of the British firm. German company managers are prone to have higher ranking technical professionals as compared to the British company. They are also probable to be more concerned with the production and the excellence issues than managing of the subordinate. However, the British managers are prone to be more concerned with the sharing of relationship with the other managers.

References

Hodgetts, R. M., Luthans, F., & Doh, J. P. (2006). International management: Culture, strategy, and behavior. McGraw-Hill Companies.

Apple Company

            Apple Company is an international business company that usually creates consumer electronics, computer software as well as commercial servers. The company was formerly known as the Apple computer company and it was established in the year 1976 in Cupertino in California and later was incorporated in the year 1977 (Lüsted 2012). The company over the years it has used distinctive advertising techniques as well as building up on their name in the computer electronics business. The company is well known for its excellent hardware production of iphones, ipod and ipad and the company includes a customer foundation that is loyal to the corporation and its product and especially in the United States.

            Apple Company creates and sells a wide range of products selections portfolio and the strength that is attributed by the production of the Mac Os X technology. Their brand’s loyalty has made the company to succeed in their business. The company sells their brand to consumers of all kind that is both the small, online stores, middle sized businesses, direct sale force, resellers, institutions both the private and the public ones such as the government institution and third party wholesalers. The company has been constant in developing their own brand and services with a goal of offering their customers the best experience everywhere thus allowing them to be the best in the industry (Lüsted 2012). The company focuses on working towards marketing as well as advertising as they believe that these effort will go a long way in their development and the sale of their brand. The company’s market strategies have evolved and are currently economical, effective, flexible and durable and thus allow the company to be able to respond to both the needs of the customers and the market. The company has also taken the appropriate steps to address the opportunity of improving the consumer perception about their brands through improving on their employment practices all through their supply chain. Though most of the consumers find their products unique in the electronic industry, they tend to be enthusiastic and dedicated towards consumption of these products while there s that part of the consumers who have no experience about it who ends up criticizing the brands due to the expensive prices. However, the company is working hard to produce brands that are fairly cheap so as to accommodate all their potential customers. Apple Company being one of the largest valuable companies in the economy today, it has so much to offer to the public. The initial objective of the company during its establishment was to acquire stellar goods and services with the tight timeframe at a cost which represents the best price value to both the customers as well, as the stakeholders (Lüsted 2012).

            The current world wide economy is depressed and thus is facing a great recession. However, the Apple Company has better placed itself in the market and this has seen the company grow to even greater heights in the market. The company’s strategy of launching new iphone with fairly cheaper prices is reflecting a very good sale thus accelerating the consumption by the customers (Ireland et al 2008). The company has thus successfully continued to develop as they attain a better profit margin for the past three years despite the fact that the world wide economy is slowing down. Apple Company therefore has been a significant business in the technology industry and it has greatly contributed in driving the economic growth of the United States. Economic stability of most of the developed nations creates a favorable opportunity for the company to and its operations. However, the rapid growth of the developing nations is important. In spite of Apple’s market leading position in the market, the company still faces some risk factors such as the changing customer demand, worldwide economic situations, fluctuating customer demand, global competition and potential supply chain disturbances. Thus in realizing these economic opportunities the company has increased its effectiveness as well as speed significantly so as to be competent and ahead of their competitors who are currently targeting the high growth rate of the economies (Ireland et al 2008).

            It is thus very important to note that Apple Company is one of the publicly traded companies that have contributed so much into the economy worldwide. Its leading position worldwide has been attributed by its ability to maximally utilize all the external factors within its competing world and hence its success. However, with the current events and threats in the world, the company should strategies on the effective way to address all these threats that have been realized in the legal dimension its environment. With this the company will be constant in their leadership position.

References

Lüsted, M. A. (2012). Apple: The company and its visionary founder, Steve Jobs. Minneapolis, MN: ABDO Pub.

Ireland, R. D., Hoskisson, R. E., & Hitt, M. A. (2008). Understanding business strategy: Concepts and cases. Mason, OH: South-Western Cengage Learning.

Startup funding and bootstrapping

The article addresses various issues that face any entrepreneurs with an idea that they aspire to have grow into a profitable and significant business. It represents the various decisions that an entrepreneur has to make in order to distance themselves with things which can drag them back or prevent them from realizing their business dreams.  Ryan had to decide to venture out all by his own after years of working as a sales and business development officer, which allowed him to launch his startup in partnership with another partner. The courage to step away from this startup with a partner was an important starting point which allowed him to figure out a better way that would be his next venture. Finding Marco was the other main thing that enabled a startup idea to be borne and even implemented as a part of pilot project. The skills that Marco and Ryan possessed complemented each other more so for the technological business having worked for considerable time in the previous businesses from which they stepped away.

The concept the two settled on stemmed from an opportunity arising from the challenge Ryan experienced in their last business, which involved difficulties in finding email addresses for contracts that are hard to reach. The idea of SellHack, however, came with various challenges that includes the legality if the business ideas, whether to look for funding or turn to bootstrapping. Bootstrapping a venture requires a lot of courage especially when one is not sure about the outcome of the idea in terms of business and profitability (Cohan, 2012). Bootstrapping can be an excellent strategy that could assist the venture to move from the trial stage to a full introduction into the market, since the startup like SellHack is hard bent on achieving profitability. This strategy would allow Ryan and Marcus much freedom when it comes to decision making and even wider scope in following their instinct with the experience they have from past startups and work in technology and sales business. In addition, bootstrapping is quite effective in ensuring that there is positive flow of cash (Koester, 2016). When Ryan and Marco put themselves in the sink situation, they are aware of the hunger they to carry out their venture right. The start-up when bootstrapped would mean that the owners have to develop a business model and adopt innovative means which are as effective as possible.

However, if the business was to be conducted through a website which allowed many users to sign up for the SellHack, an opportunity would be available for the converting these into paying customers. This would require a lot of funding in order to market the idea to the potential customers. To get as many people as possible to convert paying clients would require funding even by outsiders or venture capitalists so that to get the business going and profitable. The advantage of funding in this case is the amount of resources that would be at the business exposure to acquire and maintain experienced and talented individuals who can steer the startup towards innovation, growth and profitability (Koester, 2016). Even though bootstrapping would allow Ryan and Marco to build something that is worth funding, funding can allow for growth.

Questions

At what point should an entrepreneur consider bootstrapping and funding of a startup business?

Would it be better for the business to combine both funding and bootstrapping?

How should an entrepreneur avoid the legal conflicts while establishing a start-up?

References

Koester, E. (2016).Green Entrepreneur Handbook: The Guide to Building and Growing a Green and Clean Business. CRC Press .88-82

Cohan, P. S. (2012). Hungry start-up strategy: Creating new ventures with limited resources and unlimited vision. San Francisco: Berrett-Koehler Publishers. 71-73

The sale force compensation business

            The business world is getting very competitive all over the globe. Companies are now seeking different strategies to stay ahead of their competition. The most popular trend among companies worldwide today is the introduction of the total rewards programs for employees. Total reward programs refer to the benefits that employers give their employees in a company so as to retain them, attract new employees and to motivate the existing ones (WorldatWork- The Total Rewards Association, 2017). With competition among companies being very stiff, most companies are now seeking various strategies to retain talent in their companies. Employers have now realized that employees are a vital resource and acquiring the best talent and retaining them is the best strategy to minimize costs and increase profits (WorldatWork- Total Rewards Association, 2012). For companies that deal in the sale of various goods, sales staff is an important asset; therefore, a total reward system is more valuable than just spending more money. This paper, therefore, will present and discuss on the features of total reward program, conduct of the sales force, the value preposition plan and recommendations on the future sales people who should be implemented in the compensation plan.

            There are several main features that distinguish the total reward system. Compensation is one of the features of total reward system as it is the most significant part of this program as it forms the basic pay form that involves both the fixed and variable pays alongside long term as well as short term motivation. The fixed amount of payment is basically the constant pay for each and every salesperson while the variable pay relies on the mechanism that is used such commission, performance pay, time rate payment as well as piece rate payment. Other incentives such as bonuses, sharing of benefits as well as share ownership are also part of the compensation program. Improved flexibility feature involves allowing the employees to have the flexibility that they require in terms of offering them workable working hours which would allow them to use their expertise appropriately as they work in the company. Benefits feature refers to factors that the workers are offered in their work in addition to their salary they mostly include allowances. Rewards and recognition feature involves appreciating of employees once they have done something that is pleasing and desirable. Work life balance feature involves the offering of support to the employees so that they can be able to strike a balance in their life. The six features is the opportunity feature which involves career progression program that would enhance the employees to be able to develop in their careers and for self.

Efficient as well as a collaborative compensation plan helps in boosting the productivity of the company’s sale so that they can be able to reach their long duration goals. Some of the major behaviors that the company targets in the sales team with the compensation plan is the introduction of new concepts in the organization with innovative viewpoints on some of the products desired by the consumers so as to be able to satisfy them and hence becoming competent in the competitive environment. The total reward system can only be successful if the target employees in sales have a number of behavioral traits desired by the employer. The first behavioral trait that the Javita Coffee Company desires in its employees is the ability to work as an individual with minimal supervision. This is because the total reward scheme at this company aims at rewarding each employee based on the level of performance of each sales representative on the bonus hierarchy (Javita Coffee Company, 2017). The other quality that sales people must have is the ability to work as a team because the team is considered as a single individual. The bonus packages at Javita Coffee include those that target the development of teams therefore emphasizing on the importance of teamwork (Javita Coffee Company, 2017). Therefore, for an effective rewards program, sales personnel must have the ability to work well on their own as well as in a team.

Value preposition in this company will be attained through the proper implementation of the six features of the total rewarding program. A total rewards scheme in a company like Javita is the best strategy to benefit its sales staff. A good reward system creates value for the employees through the right combination of money rewards and those that are non-monetary as well (Holeman, 2007). In order achieve value for the current and future employees using the total rewards strategy, the company must ensure that it effectively implements its rewards scheme. Proper implementations of the total rewards programs involve the selection of the best team and a clearly stated benefits plan for the team (Holeman, 2007). It is important to consider what the sales team needs as well as what the company itself needs for there to be the best value created from the total rewards program. At Javita Coffee, the company aims at creating the best value for its sales staff in the immediate period as well as the future through its weekly payment plans (Javita Coffee Company, 2017).

Competition for the best talent among companies has increased tremendously due to the fact that companies now recognize the vital role employees play in their businesses. The main strategy companies are deploying is to use the total rewards program to attract the best talent while retaining them and motivating them to perform better (WorldatWork- The Total Rewards Association, 2017). When a company creates the best value for its current employees using the total rewards strategy, then it becomes more attractive to other potential employees. For a company like Javita Coffee, the success of the current total reward system will definitely attract more potential sales people to the company. The reward system is a progressive one based on stages from the star bonus level to the higher levels of the hierarchy (Javita Coffee Company, 2017). The rewards program further benefits sales employees in the immediate and future period thus making it attractive to potential future sales people.

Compensation plan being the most significant method that the organization uses so as to attract, maintain and motivate their workers, it is also essential for them to integrate the changes that occurs within the company and thus being up to date. Employment participation through engagement is one of the compensation plans that the company should add onto the features of the compensation plan. Off job, vacations provisions to employees will also increase productivity in sales in the company. While the system of immediate payment might be complex to administer, it is more beneficial to the companies. At the Javita Coffee Company, timely payment of its sales staff has enabled the company to grow. At Javita, the company has a compensation program that enables its sales people to receive payments on a weekly routine (Javita Coffee Company, 2017). This system is motivational because sales people can organize their income for the immediate and future periods. Successful sales companies emphasize on the improvement of sales and any other aspects that sales leaders are responsible and accountable for. Therefore, such companies must work hard to ensure they retain the best sales people and motivate them to perform better. Personal performance of sales people at Javita Coffee Company is an essential matter to the employers. The basic key for the growth of Javita is the struggle by all sales people to reach the star level (Javita Coffee Company, 2017). The performance of each sales person is tracked to determine whether they fit the star and earn the star bonus reward offered by this company. The car bonus benefit lies above the star level and then as the levels rise, one qualifies to the top positions of managers and directors which have additional benefits. The focus on personal performance motivates sales people to work even harder in order to rise to the higher ranks with more responsibility and better benefits.

References

Holeman, R. L. (2007). Implementing Total Rewards Strategies. Alexandria: SHRM Foundation.

Javita Coffee Company. (2017). Compensation Plan. Retrieved 1 13, 2017, from javita.com: http://www.javita.com/opp_compensation

Javita Coffee. (2017). Who are We? Retrieved 1 13, 2017, from javita.com: http://www.javita.com/company

WorldatWork- The Total Rewards Association. (2017). What Is Total Rewards?  Retrieved 1 13, 2017, from worldatwork.org: https://www.worldatwork.org/aboutus/html/aboutus-whatis.jsp

WorldatWork- Total Rewards Association. (2012). HOW THE WORLD'S BEST PAY THEIR SALESPEOPLE. New York: WorldatWork.

Journal entry # 5, Employment Negotiation

Integration plan

            In my negotiation plan I plan to be soft on the negotiator but again hard on the problem with a constant independence of trust. I also plan on focusing on interests rather than positions where I will have the opportunity to explore the interests. I also intend on inventing options so as to attain a mutual gain in the negotiation. I also intend on seeking to first understand others for me to be understood, thus I will have embraced a mutual purpose as I will get to understand and respect other people’s interests as they also get to understand my own interests. Finally I will integrate the use of I while negotiating and I will also negotiate suing my contribution offer in the future and in this I will be able to express my plan on bringing about a difference through doings things differently.

Distributive expectations     

            In our negotiation we are likely to get stuck as we differ in some of the offers that the company offered from what I want. I am interested in acquiring a financial security for my family and in this case I expect to be offered an equal or even higher status than the other managers of other companies that we do business with as I believe that this will enable me to incur the cost of adjusting to the new living. The company however will tend to feel that this is a great deal and the negotiation will seem to take a turn. The company will also have an issue guaranteeing me of a similar position with equal value in a two year contract. However the company may fail to agree with the negotiation since they may not be willing to assure me of the position within this long term contract.

What are you BATNA?

            I will use my BATNA that is the best alternative to negotiation alternative. I will therefore need to know all my options. I will use my BATNA so as to be able to gain power in leveraging the negotiation so as to make a deal.  For my BATNA to be stronger, I will have to realistically estimate my negotiation’s counterpart’s alternatives as this is significant. I intend to make my BATNA strong by being more creative through establishing options that would boost my bargaining power. I will also make an effort in expanding my options.

Culture awareness

            I strongly believe that there will be no potential difference between me and the society in Abu Dhabi. Therefore negotiations with these people will be easy and efficient since we all share the same culture, values and standpoints. However, my kids will face some challenges adapting to this new environment since they were born and raised in United States. I am confident that with time they will get to know and be able to adapt to the new culture.

Cost of living adjustment

            I will do this project in Abu Dhabi, the capital city of UAE and it happens to be the largest city in UAE. The cost of living in Abu Dhabi is 12% more than in Dallas. Therefore, my plan on cost adjustment is to negotiate with my employer so that I get a raise in my salary. A raise in my salary will help me to adjust in my cost of living and be able to live in my home country.

Business article summary

Amazon

Amazon is an American cloud computing and electronic company based in Washington and founded in 1994. The company’s online advertising business competes with established Facebook and Google business. Though the company’s revenue is smaller than Google’s for ad revenue, the $1.3 billion indicates that Amazon has intensified its offerings of online advertising such that it could become threat in future. 

The online advertising strategy is good since it assist the customers in enhancing viewing and shopping experiences after recommendations. This aligns with the company’s preference to balance advertising with customer experience. The advertising business has been overlooked but it has been speculated that it could form a major part of the firm’s overall business. Amazon has been expanding its marketing strategy by providing targeted and sophisticated advertising services even though its revenue has remained small. Despite the improved revenues, management warned against reading a lot into in additional revenue noting that it comprised of other company’s arrangements or advertising deals.

In relation to business aspects, this articles shows that concerted marketing efforts through online platform can lead to increased revenues if the organizations maintains consistency. Though such efforts may not give back immediate returns to the business but it can eventually become a major source of revenue. Choosing the right marketing strategy targeting customers in online platform can lead to big opportunity for businesses.

From this article, I think that Amazon’s trend in online advertizing will be a major competitor to the established online giants such as Facebook and Google. The online advertising platform presents huge opportunities for firms to increase their revenues and improve their competitive edge in a market where consumers are increasing become present.

Case Study

Introduction

Economic globalization is a tendency that is directed towards the global goods integration, labor, and capital as well technology.  Trade regulations are mainly  designed  so that  they can prevent  the occurrence of irregularities  such as  tax  avoidance  which ends up  making the  international  trade as a complex process (Ayub, 2017).  The international trade is normally associated with stiff competition and increased consumer base as well as a wider market.  With the implementation of taxes regulation lowers the ability of international business to grow. In that  the expansion of corporations  is hindered  since  foreign corporations  are  becoming important  in the economic  and  industrial life (Ayub, 2017).  This result in the lowering of the profit margins based on the grounded trade barriers which results into higher products prices. Flexible regulations are essential in economic development as they do not interfere with the drivers of the economy. 

Relationship with Textbook Material: Chapter One and Two

International business or globalization  can be described as  an expanding  trade  that collectively reduces  trading  barriers which is  the most authoritative tool that  nations that  work together  can  utilize  in  reduction of  the  rate of poverty  and  raising the standards. According to the first chapter  of the  book  free trade  can be described as  the best  approach  in advancing  the  economic  world’s development (Ball, 2013).  The practice is not beneficial because of its theoretical compel but base on its ability that has been demonstrated on practice.  Free trade is essential in the promotion of better and additional jobs. Expanded trade results in the creation of more revenues through more job performance and creation of jobs which is significant in raising the standard of living. The importance of creating free trade is to ensure that changes are not blocked rather in management of costs of adjustment of trade and offers supports to the employee towards employment (Ball, 2013). Globalization is more efficient with flexible regulations that do not hinder the ability of companies to get into different nations. Economic equality can best be gained through encouraging free trade that promotes increase of   revenue margins.

Investment and trade impacts social and economic development significantly.  Economic development cannot be achieved without high trade and investment operations which are significant in generation of high revenues (Ball, 2013).  In the world today economies states are highly open to globalization. Trade normally plays a vital function in shaping social and economic performance and countries prospects globally.  There is no state that has attained development has not done it without trade and investment.  However, the benefit of investment and trade which mainly depends on the setting, aims and context in which it is operated (Ball, 2013).

Personal Opinion

In my opinion, free trade is essential in increasing economic development. Economic development requires many efforts in terms of resources and investment.  Trade and investment liberty is required in conducting fair investment activities (Ayub, 2017). Trade liberty is essential in the creation of entering fresh markets and the increase of products sales.  Free trade helps in developing communications in which investment highly depends on it.  In increasing the rate of revenue free trade helps in creating fresh market entries. Liberty in trading and international investment is the main determinant of economic growth in every state.  Liberty results in the creation of more and well established jobs those results in the rise of the living standards. Economic  development  requires  international  businesses sources  which helps  in  establishing  the  social and economic  sector (Ayub, 2017).

            References

Ayub, C. (2017). Brazilian trade regulations ‘too complex’. Retrieved from http://www.worldfinance.com/strategy/legal-management/brazilian-trade-regulations-too-complex

Ball, D. A. (2013). International business: The challenge of global competition. New York: McGraw-Hill/Irwin.