Understanding the Business Competitive Environment

When designing a new strategy for the company, a firm must fully analyze the respective competitive environment in order to come up with decisions that are beneficial. A company must take into account even the minutest details regarding the competitors to understand the factors driving the success of the competitors. PEST analysis, SWOT analysis and Michael Porter’s 5 forces analysis are some ways that develop an understanding of the success of the competitor firms (Porter, 1998). Some questions are given below which help the companies to understand the importance of their expertise and their operations. . How strong is the team of the members at the competitor firm? A firm must focus on their own team and work towards the exploitation of expertise of these members. The other firm may perform well because of their specialization in that field. However, at your company you should make your team strong to gain a competitive edge. 2. What are the practices (operations) adopted by the competitor firm? This helps the firm to gather knowledge on the procedures and methods adopted by the competitor firms. This knowledge helps the company in making its processes efficient in order to stay ahead in the industry and also so that the firms practices can become a benchmark. (Withrow, 2006). 3. What markets or market segments your competitors serve? This question helps the firm in realizing the markets that are being catered and the markets that can be tapped. If the company focuses on itself, it can capture the market of its competitors and create a loyal customer base for itself (Withrow, 2006). 4. What are the competitor’s products/ services prices and promotion strategy? This helps in gaining an insight about the strategies that the companies adopt in order to capture the market. The firm must focus on improving its strategies of cost cutting and adopting to the technological changes so that it can remain ahead of the competition. (Ward, n. d. ) 5. Why customers buy from your competitors? The answer to this question tells about the added value that customers receive as a result of using the competitor products. The firm must focus on providing best services to the customers so that they remain loyal.

Feedback: What can go wrong? Essay

When identifying a problem in the performance appraisal process, managers need to focus on the employee rather than on the performance (Gomez-Mejia, Balkin, & and Cardy, 2010, p. 218). Focusing on the employee’s development helps keep a sense of objectivity. If the manager focuses on the performance, instead of on the employee development, the employee may become defensive. If this happens, the effectiveness of the feedback will decrease because the employee may become self conscious. It’s better to direct feedback toward skill improvement rather than toward the employee performance. Encourage the employee to discuss their feeling and ideas about the problem. If the employee feels they are not a part of the discussion and that they are just being lectured to, the feedback may not be taken as seriously. Getting the employee actively involved in the feedback process helps ensure they take an active role in the process. In addition, making sure to accurately define the problem helps in developing a solution. If the problem is not accurately identified and defined, then the right solution will be very difficult to determine. Furthermore, if the feedback from the manager is vague or wishy-washy, the employee may not understand what the manager is trying to say. This miscommunication can diminish the effectiveness of the appraisal process. Make sure to plainly state the problem and be clear about the desired solution. A performance appraiser may not identify what you are doing well as an employee. As a result, her feedback to you highlights your flaws. You may feel that no matter what you do, your employer cannot be pleased. If you receive a performance appraisal with feedback describing your faults. In addition, make sure to communicate to the employee that they are in control of their solution. If the employee feels empowered, they will be more active in fixing any performance problems they are faced with. If they don’t feel empowered, they may not understand that the solution to the problem is in their hands. Managers need to help employees understand they are accountable for solving their performance problem with the help of the manager. The pre-appraisal checklist and preparing for the appraisal. (n.d.). Retrieved from http://hrweb.berkeley.edu/performance-management/cycle/assessment/tips/supervisors/checklist-prep Paulding, B. (2012, 04 09). Performance appraisals: Post-appraisal activities. Retrieved from http:http://human-resources-payroll.knoji.com/performance-appraisals-postappraisal-activities/

Statistics for Business Decision Making Term Paper

Statistics for Business Decision Making - Term Paper Example Human beings make tangible decisions which dwarf all sources of competition if more and better information from statistical analysis is available. With statistical knowledge, many researchers have found that it is easier to apply them and make decisions that are satisfying and which fit different scenarios and situations. According to Winthrop, statistics are used as a standard unit which uses historical performance to come up with future targets which drive businesses (p.1). To him further, statistical analyses provide deep understanding into how different business departments (sales, human resources, stocks, marketing etc) are performing in relation to the overall goals and objectives of the business. Also, statistical analysis provides trends which form the backbone in planning purposes (p.1).Statistics are also employed in policy formulation by Governments which carry out studies from time to time to have a sound foundation of the policies and decisions made. Further, businesses use statistical data to evaluate the performance of current strategies and to come up with reliable information onto which strategies are working and which just wastes of resources. Again, new business initiatives are evaluated and changed in order to improve business performance backed by survey/feedback data from statistical marketing surveys. In addition, advertising/marketing bodies use statistics to understand different markets and customer behavior in order to formulate advertising/marketing campaigns.

Nonverbal Communication- Essay Example | Topics and Well Written Essays - 1250 words

Nonverbal Communication- - Essay Example Similarly, executive success is dependent on intuition, hunches, or judgement, which â€Å"may have been derived from very specific information communicated nonverbally† (Fatt, 1998, p.1), although the manager may be unaware of the source of information. Environments cannot be easily distinguished because of their invisibility based on their ground rules, all-encompassing structure, and general patterns. However, this invisible environment is made discernible through nonverbal communication (Fatt, 1998). Further, service encounters involving interactions between employees and customers lead to customers’ evaluations of their service consumption experiences and perceptions of service quality. Hence, managerial implications include the identification of employee behaviors and approach that generate favorable responses from customer (Sundaram & Webster, 2000). Thesis Statement: The purpose of this paper is to investigate the importance of nonverbal communication in the bus iness environment. The Significance of Nonverbal Communication for Business Success The term communication style covers a wide range of both vocal and verbal attributes including â€Å"pitch, volume, and word choice, and nonverbal attributes such as gestures and facial expressions† (Fragale, 2004, p.94). ... xpressions (Tiedens, 2001), and subtle patterns of eye contact (Rosa & Mazur, 1979) may affect the way in which the individual is perceived by fellow group members. This consequently influences the individual’s status position within the group, states Fragale (2005, p.94). For a thorough comprehension of the assigning of status in task groups, it is essential to determine how specific communication behaviors impact individuals’ status positions. Examples are questions related to the status consequences of speaking loudly, or putting one’s feet on the desk. Similarly, for the purpose of â€Å"gaining status in a group, should an individual interrupt others, or wait quietly for a turn to speak?† (Fragale, 2005, p.94). The communication styles both through verbal and nonverbal behaviors, impact the status positions they achieve in their task groups. Earlier studies have demonstrated that status is more enhanced by being smart than by being social. On the othe r hand, Fragale (2005) argues that in some task groups status imrovement may occur through being social rather than smart. The author advances the idea that the characteristics of the group to which an individual belongs leads to status benefits through particular communication styles, based on structural and process differences between groups, and how the members’ words and actions are assessed (Fragale, 2005). The theory of Berger et al. (1986), of status cues argues that â€Å"task cues which contradict expectations based on categorical cues may reduce or overcome the effects of the latter on status processes† (Foddy & Riches, 2000, p.103). Two studies investigated the comparative influence of verbal fluency and ethnic accent on perceptions of competence, and on acceptance of influence in a group task. Study

Health care information and resources Essay Example | Topics and Well Written Essays - 1000 words

Health care information and resources - Essay Example Besides, her mother who is in her mid-forties is so slim that her figure could be that of those in their twenties. While Cynthia and her family eat the three regular meals a day, she goes further by snacking on sweets and pastries when watching the television or especially when she is upset and stressed out. The need to loose weight became even more fervent for Cynthia in the past days because her best friend has invited her to attend her birthday bash next month that was going to be a formal event. It would require everybody who is present to wear a gown or a formal dress. And there is no way that Cynthia will attend the occasion wearing a loose dress or gown. In her anxious move to become thinner in just a few short weeks, she sought the following sources on how she could take off the unwanted pounds: 1) websites – official and unofficial; 2) informal contacts: local therapist (Acupuncturist) and friends; 3) books. answers. One advised that she should not starve herself because force starvation slows down the body’s metabolism, which will result to not losing any weight at all (yahoo.answers, 2008). Another responded that she must eat five to six small meals spread over the day instead of three main big ones; and the choices of food must consist of fruits, vegetables and whole grains (yahoo.answers, 2008); while another counselled that she should not go on a diet due to the fact that she is still growing (yahoo.answers, 2008). She also read an article from a well-known weight lost website, and was able to gather more informative facts such as getting a doctor’s approval before plunging into weight loss programs and not setting her â€Å"sights too high† since small aims and objectives are more easier to attain (Scot, 2008). This is likewise supported by Pillinger 2007), who states in a website article that the best way to lose weight is to have measured alterations in term s of food and exercise.

How Does The Rising Rate Of Inflation Bring Down The Prices Of Houses Essay

How Does The Rising Rate Of Inflation Bring Down The Prices Of Houses In The United States - Essay Example Since two-thirds of households in the US or even more have possession of the houses that they reside in, the weight of Owner–Equivalent Rent in the CPI is significant; it accounts for around 23.8% of headline CPI and around 30.8% of the traditional core CPI which excludes energy and food. The rents languished due to an increase in the sale price of houses in the recent years. Since the year of 2000, it can be found that OER has increased approximately 26% while the government’s price index of existing homes has increased 80%. This indicates that the sale prices of existing homes and new homes rose by 5% or even more per year faster than rents since the twist of the millennium (Cecchetti, â€Å"Housing in Inflation Measurement†). Consumer Price Index Levels (1950-2003): Source: (Cedar Spring Software, Inc., â€Å"Price Inflation†). The above chart indicates how the effects of continuous inflation build up over the years. It consists of the index values of C PI for the month of December of each year. The value of index of 180 indicates that prices have risen 80% which is measured from a â€Å"base of 100†. With the help of index values, one can determine that goods and services which cost $3,000 at the end of the year 1992 will cost $3,897.00 at the end of the year 2003. The supposed household cannot wait for the inflation to be at a normal level. They must make sure that their interest and income keep pace with the long-term inflation or else they would become poor (Cedar Spring Software, Inc., â€Å"Price Inflation†). Percent Changes in Inflation (1950-2003): Source: (Cedar Spring Software, Inc., â€Å"Price Inflation†). The above chart depicts changes in the inflation rate and not the actual price changes. A line that trends downward which is above... The researcher of this essay focuses on the issue of the connections between the inflation and housing in the United States. The researcher states that although inflation occurs regularly in the economic system, it becomes a matter of concern when it reaches at higher levels. The rate of inflation, that is discussed and analyzed in the essay provides the measure of price changes, which occur for many goods and services. When it comes to individual goods, the changes in the prices vary greatly. The prices of number of goods such as gasoline, health care, housing and automobiles have significantly increased during the last decades. On the other hand, the prices of the commodities such as computing power and calculators have decreased. Different methods are used to measure the inflation rate, but the most common approach to measure inflation in the United States is Consumer Price Index (CPI) which includes the steps, described in the essay. The researcher then focuses on the calculating of the real inflation rates in the United States and provides graphics and charts on the topic of Percent Changes in Inflation and Consumer Price Index Levels. It is then concluded by the researcher that the stock market and the housing market had gone down, thereby reducing the supply of money and creating a crisis of liquidity, thus sinking the United States into a deflationary period where the prices were in fact lower than 2008, reaching a deflationary short of -2.1% in the month of July of the year 2009.

File Management Essay Example | Topics and Well Written Essays - 1000 words

File Management - Essay Example This essay focuses on analyzing and describing of modern file management and it's systems that refers to the fundamental methods used in naming, storing and handling computer files. In many applications today, a file acts as a central element, with the exception of the real-time and other specialized applications where, virtually, all output is saved within a file to provide for long term storage for future use by either the user or other programs. The lifespan for the files is independent of any applications that use them for their input-output functions. Therefore, users must be in a position to create access, save and maintain the files content and integrity. These actions encompass the file management systems. A typical file management system, that is discussed in the essay comprises of system utility programs running as privileged applications. Files are manageable in different ways based on platform and the type of file manager. Despite there being different kinds of file manag ers, effective file management must entail proper organization, management and location of directories, files and folders. In summary, file manager enhances locating the files, organizing, storing and backing up files. In organizing the files, the applications are made easier to find through creation of the program file. It is suggested that the documents with same file extensions can be saved in their own folders to facilitate easier and quick retrieval. The user can create nested folders within the folders to prevent orphans and widows.

An Organizational Ethical Dilemma Coursework Example | Topics and Well Written Essays - 750 words

An Organizational Ethical Dilemma - Coursework Example A class action lawsuit was brought against Rite Aid by its employees because of the incurred losses in shareholdings and income due to the bookkeeping and accounting fraud ("Rite aid faces," 2003) The company’s reputation was severely hurt by this scandal and lost nearly a billion dollars in legal fees and in the shareholding settlement reached for the class action lawsuit. The company lost its good reputation and fell behind similar stores such as CVS and Walgreens ("Rite aid faces," 2003) The Ethical Issues There are several ethical issues that are illustrated in this particular incidence. The biggest issue is the breach of fairness. According to the book entitled â€Å"Managing Business Ethics,† a major aspect of ethics for most employees in an organization is the â€Å"climate of fairness† (Trevino, & Nelson, 2010). A climate of fairness involves all aspects of employee treatment such as â€Å"outcomes, processes, and interactions (Trevino, & Nelson, 2010). In order to be considered ethical, this climate of fairness cannot be breached. In this case, Rite Aid did not provide a fair work environment as employees were harmed in the all three of these key areas because of the fraudulent actions of several men. Instead, the company promoted a self-interest climate which is where â€Å"people protect their own interests above all and everyone is essentially out for themselves† (Trevino, & Nelson, 2010). Martin Grass and his accomplices placed their own greed above the good of the other employees and shareholders and ended up defrauding many of these people out of the money that they were entitled to ("Rite aid faces," 2003) Who is affected by the dilemma? The employees and shareholders were the individuals that were initially impacted by this ethical scandal due to the fact that they were the ones who lost out on the money they were owed. In order to rectify this situation, a class action lawsuit was filed and eventually the company h ad to pay out. The company was also affected by this dilemma as their reputation was ruined and they lost a lot of money because of the legal fees and profit loss. Finally, the customers are also affected because such a breach of ethics is going to change the perception of the organization. Customers likely felt that this was not a company they should trust. The fact that profit was impacted suggests that customers did not want to be associated with the store and its negative reputation. What are the possible consequences of specific and alternative actions (responses)? The company really did not have any other choice when it came to how they responded to this ethical dilemma. In order to save face in the long-term, they had to pay back the money to shareholders and employees. The only way to ensure that they were not ruined was to accept the short term consequences and respond appropriately. Had the company not responded appropriately, they might have been forced to go out of busin ess. Even with an appropriate reaction, Rite Aid lost billions and their stock plummeted to just a few dollars per stock in 2003("Company news; rite," 2003) What are the relevant obligations from your analysis of the dilemma? According to â€Å"Managing Business Ethics,† the obligations for a company â€Å"vary depending on the people involved and the roles they play (Trevino, & Nelson, 2010). For Rite Aid, the main obligation that they had was

Depression - Family and Community Experience Assignment

Depression - Family and Community Experience - Assignment Example The results are severe for patients below six years as opposed to the other category. Studies on the expressed emotions shows that families of patients suffering from chronic depression are easily predicted by higher levels of Expressed Emotions. Patients suffering from disorders associated with mood record a poor outcome from medical experts. Other studies indicated that spouses found it hard to share with the public about their spouses and this leads to reduced marital activities with the patient. In the long run, it happens that the patient feels unattended to and this further complicates his situation. This however results when the spouse to the patient feels embarrassed about the patient’s condition. Impacts of chronic illness and depression sharply differ from one society to another and from one country to another. Despite the variations, what is common is that the situation bears with it serious cost implications. A patient suffering from depression is considered a wast e to an economy in terms of productivity, this by it self is a form of a negative cost. Attempts in curative or reduction are yet other cost. In most set ups, human life is taken to be paramount and the responsibility is not left to the family alone but to the entire society. In some cases there is inability to persevere in a marriage where the patient is either a wife or husband. It makes the spouse to have mentality of trying to get their way out. This is attributed to effect in the sexual behavior and performance which is not at par or anyway near the satisfaction level achieved before. In chronic situations, it leads to dysfunctioning of the whole act as earlier stipulated as lack of interest or mood. In the recent past, it has been noted with keen interest that patients suffering from chronic depression pose a great burden o the family members and those destined to take care of them. What this implies is that the care givers have to reduce the time the have to undertake in doin g their personal activities such as leisure and other social activities after their relative has been diagnosed with depression. The family will tend to be more worried about the future with increased symptoms, effects and consequences. The effects are more staunch in families with poor base are compared to their rich counterparts. The community as whole participates in the sense that support can easily be mobilized from the social networks. The support can either be financial or just moral. Handling of depressed patients has effects as well. Parents of children with depression are reported to have a higher likelihood of contacting or suffering from psychological disorders such as the same mental depression. Thus children require more attention compared to adults. Therefore the risks in handling children is much greater compared to adults Educational support has been advanced on that note that is found capable of assisting relatives in provision of care to patients suffering from ch ronic depression. Although sources indicate that the much that has been advanced is too little and a further research is recommended. Such education is technically referred to as psycho education and it was purposely developed to assist in mitigation of the enormous difficulties and challenges encountered by