Business Strategy Forms At Different Levels Business Essay - Free Essay Example

Sample details Pages: 5 Words: 1480 Downloads: 1 Date added: 2017/06/26 Category Business Essay Type Research paper Did you like this example? This strategy mainly emphasis on whole purpose and scope of the business. Corporate strategy mainly plans to deal with stakeholder expectations. This includes set the goal and scope of the all activities of organization. In this the position of business in market and what type of competition is there all take in corporate strategy. Business unit strategy This type of strategy involves actions like how a business will give good competition in a particular market. Business unit strategy concerns strategic decisions about choice of products, meeting needs of customers, how to take over competitors and creating new opportunities etc. Don’t waste time! Our writers will create an original "Business Strategy Forms At Different Levels Business Essay" essay for you Create order Operational strategy Operational strategy concern with how all parts of the business is organised to deliver both corporate and business-unit level strategic direction. Operational strategy involves the issues like how to manage the resources, processes, people etc. Strategic Planning Strategic planning is called an organizational process or method which is used to define its strategy, or direction, and make decisions on dividing its resources to carry out their strategies, including its capital in terms of money and people. There are different types of methods and techniques which are used in strategic planning like SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats), PEST analysis (Political, Economic, Social, and Technological). When we are going to make a strategy we have to care about the vision, mission, and core values of the company. Vision of the company- This is whole picture of the company. In this the reputation of the company can be included. Mission of the company- This is goals of the company. Company make strategy to achieve its desired goals. Core values- These are main values or fundamental things in company which cannot be changed at any price. I am manager of Asda store in Birmingham. This is situated in Birmingham and 0.5 mile far from city center. Internal and external scan SWOT analysis {Strength, Weakness, opportunities, Threats} Strength Strength of company can be identifying by its production etc. In this we see what the strengths of our company are. In my company they have got good staff, latest technology, good marketing which encourage us to do more. Weakness Every business has its strong and weakness point. No business is perfect. There is always some weakness in business and this may be in terms of employees, production or technology. In our business even we got good and trained staff we are facing management problem. Opportunities Retailing market is expanding day by day. People are becoming used to buy all things under one roof. they have recover from recession and all these things provide us great opportunities to explore our business. Threats There are two types of threats. One threats which are already in company like bad management etc and second is future threats which can affect the business in long term,. Competition is biggest threat for today business. In my company due to bad management we are not achieving our targeted goals which ig greatest threat for us. PEST analysis {Political, Economic, Social, Technological} Political Politicians always play great role in the business. When government is very supportive they help the businesses like providing those loans and exemption in taxes etc. Uk government always encourage and help us lot even in recession. Economic All business is always according to the situation of the economy. In countries like uk they have got good and healthy economy so the chances of success of business are more because then you know that your products will consume in market which leave you good profit. So i got very good chances that i can take my business where i want because this is in very healthy economy of uk. Social Businesses are open to deal with demands of local people. what type of business should open and business will run is always according to the nature of society. Societies in UK are more rich and educated where people are ready to spend money onso there we got plenty of opportunities to sell our products. Technological Technology is very important in business. Largest business is fully depend on technology. Technology is proving more reliable, productive for the businesses. Strategic planning cycle Strategic planning cycle is the process of whole strategy. This include Strategic initiatives Strategic initiatives are goals which can be achieved by strategic planning. Strategies are made to achieve the desired goals. After PEST AND SWOT analysis we have found that we have got problem in our management. So our strategic initiative is to improve the culture of management of the company. Objectives Objectives are goals. There will be one strategy and under this one strategy there will be so many objectives. So in short in order to make the strategy success we have to achieve all objectives which are in the strategy. In Asda we have found that our management is not so good as this should be so we make a strategy to improve the culture of management of Asda. So there will be many objectives in this like working smoothly, motivation of employees, no conflicts should be in company and make company more reputated. Required actions Requires actions are to achieve the objectives. When we have indentify our objectives we will try to achieve them and lot of actions will required there so these actions are called required actions. In order to improve the culture of management we will set out workshops at regularly where WE will discuss about the problems of employees and we will try to indentify where is problem and how can we sought out them. We will motivate our employees by giving them bonus etc. Good workers will be rewarded Any complain of indiscipline in company will be taken seriously and strict actions will be taken against culprits. Resources Resources are very important for any business. Resources mean the basic things which are very important in order to run the business. In order to make our strategy we have got many resources like money, employee, building etc.   Ãƒâ€šÃƒâ€š Assessment After taking required actions and putting resources in strategy we assess that how far our strategy will be successful. We can assess our strategy by various methods. Our assessment was 95%. Outcomes Every strategy has its outcomes. Outcomes mean result which we will get from strategy. We found that our management culture has been increased by 90%. Continuous improvement After outcomes we see that has these outcomes meet our expectations or not and if not we see where we were wrong in our strategy and try to sought it out. Recommendations In Asda store in Birmingham we have found that there is some problem in management. I as a manager of Asda saw that decisions which top management were making didnà ¢ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢t let any employee to participate in it. This is very important in todayà ¢ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢s world that as employers we have to take advice from employees and if we are going to make decision we should let them participate in it. I would recommend that we should organize workshops at regular basis so employees can share their problems there and come up with new ideas. We should motivate the employees by giving them bonus etc. in this way they will be motivated and do work more efficiently. Strict actions should be taken against the bad behavior of employees and employers. There should be suggestion box for employees. If employees find anything wrong in management they should have right to resist and give suggestions on it. Conclusion Business strategy is long term plan of many actions which are designed or make to achieve the goals and objectives. Strategies exist at several levels in any organisation ranging from the overall business (or group of businesses) through to individuals working in it. There are three levels of business strategy which are Corporate Strategy, Business unit strategy, Operational strategy In strategic planning cycle Internal/external scans, Strategic initiatives, Objectives, Required actions, Resources linkage, Assessment, Outcomes, Continuous improvement are included. In internal and external scan PEST analysis {Political, Economic, Social, Technological} SWOT analysis { Strength, Weakness, opportunities, Threats} are done. Strategic initiatives are goals which we want to achieve. Objectives are broadly defined that an organization must achieve to make its strategy succeed. Actions are required to achieve the objectives can be referred as a required action.HYPERLINK https://www.inv estorwords.com/11234/succeed.html Every organization make strategies to achieve its objectives and this need all type of resources such as money, land, workers. Every organization makes strategies to achieve its goals and after making these strategies they assess that what will be the results of strategy. Will it meet by their expectations or not. Every organization makes its strategies for better outcomes. Outcomes are results of strategies and after outcomes we continue improve our strategy by making it more perfect. So this is called whole strategic planning cycle and by adopting this we can make our strategy successful.

The Truth On Mass Media - 2260 Words

The Truth on Mass Media Mass media affects large numbers of people within a society daily. Such as television, movies, internet, radios, newspapers, magazines and the list seriously goes on. In my perspective this topic is incredibly important because mass media is a source in which many different types of technologies are meant to reach large audiences through communications. It also plays a strong role in society and culture because it is the main channel in which people communicate with each other shaping opinions, beliefs, values, and attitudes. In my response to that; Are women or men more affected by mass media and in what way? Furthermore, I will utilize the functionalist theoretical approach because it portrays how the media can be positive, but can also bring negative effects within gender stereotypes. In general, many people organize their own thoughts on what they usually do in the society by organizing information they tend to collect in what they acknowledge in their everyday lives. A study made by three people named Ronaldo, Taddeo, and Beccaria is called â€Å"New media and old stereotypes. Images and discourses about drunk women and men on YouTube,† portrays how females who drink alcohol have always been judged more than men do due to the media. â€Å"Female drinking is mainly the interpreted as a sign of sexual willingness, and is strongly stigmatised. 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The media constantly and unendingly bombards crowds with information and entertainment through magazines, the news, television, and the internet that consequently affect people’s actions and thoughts. This is exemplified by the novel 1984, by George Orwell, which depicts an oppressive society ruled by a totalitarian government controlling. Orwell describes the ruler of this government, Big Brother, as having complete, despotic control over his subjects, including complete control

Windows 95 Beats Mac Essay Example For Students

Windows 95 Beats Mac Essay Over the years, there has been much argument over whichcomputer platform to buy. The two contenders in theis competionshave been the PC , with its Windows environment and theMacintosh. Now, with the successful release of Windows 95 for thePC, this has been the mjor argument for each side : hardwareconfiguration, networking capabilities, and operating system. The first arguments to look at between the Pc and Macplatform has to do with hardware configuration. Before Windows95, installing and configuring hardware was like pulling teeth. The instructions given to help install hardware were toocomplicated for the average user. There was also the issuer ofcompatibility between the large number of different hardwaresetups available in the PC world. Is a particular board going towork with my PC? With Windows 95, these problems were alleviatedwith plug and play technology. With plug and play compatibleboards, the computer detects and configures the new boardautomatically. The operating system may recognize some hardwarecomponents on older PCs. Mac userw will claim that they alwayshad the convenicnce of a plug and play system, ubt the differenceshows in teh flexibility of the two systems. Another set of arguments Mac users use in favor of theirsysstems over PCs is in multimedia and networking capabilities. Mac users gloat that the Mac has networking technology built inthe system. Even if a user did not use it, the network isincluded with the system. They cited that for the PC users and Pcusers hate the fact that they need to stick a card in theircomputers to communicate with any other computer. With Windows95, the Mac network gloaters are silenced. Windows 95 includedbuilt-in network support. Any network will work properly. The Macusers also claim their systems have speech, telephony, and voicerecognition, whereas the Pc user does not have. In truth, thepromised building blocks for telephony control do not yet exist. I think the speech is not good point in the Mac. In the world of computer, people cannot stand still for toolong without getting passed by. Windows 95 now threatens the onlyassets the Mac has in capturing the interests of the consumersbecause of configuration in the hardware, communicationbetweencomputers and difference of operating systems in bothplatforms. Almost any argument could give in defense of the Macdoes not carry nearly as much bite as it did before Windows 95arrived. Pc users have something to be proud of.

The invisible hand

This paper offers a holistic summary of the description, origin, causes and effects of invisible hand of capitalism in the world of business. To begin with, it is imperative to note that the term capitalism has been used for decades to depict an economic system of gaining wealth. The concept and ideology behind capitalism was a brainchild of Adam Smith who came up with the term in the 19th century.Advertising We will write a custom essay sample on The invisible hand specifically for you for only $16.05 $11/page Learn More He used this concept to describe the economic system in which the means of production were owned, dominated and operated by private individuals and for the sole purpose of making supernormal profits. In addition, the ideology behind capitalism sought to concentrate wealth among limited number of people. In other words, major economic investments were executed by few in society. Moreover, it is also worth to note that capitalism is groun ded on the freedom of individual enterprises. In this regard, to prevent economic abuses occasioned by market factors such as monopoly, cartels and financial frauds, any other government needs to regulate market operations especially in the case of a capitalistic regime where economic might by the few individuals controls the economy (Kennedy 260). This has existed from as early as 1930s despite the capitalist ideal of ‘hands off’ government. To date, there are myriad of many countries that have put up measures to control manipulation of the market. For instance, the United States of America government has been employing subsides, tax credits, incentives and other types of exemptions so that the market can be conducive to all players namely producers and consumers. Moreover, other countries like Japan and German do not advocate the market to fully control the economy. The main rationale behind the latter is to manage the risks that may arise from the very economy. For i nstance, when Soviet Union and its satellite states collapsed, it resulted into huge losses being incurred. In the case of Adam Smith, the wealth of nations coupled with the free market has persuaded many countries favor the classical capitalism which was initiated during the 19th century. Following the great depression in the 20st century, most countries ended the laissez-faire economics. By the beginning of the 21st century, capitalism remained unrivaled following demise of state controlled policies in Eastern Europe and former Soviet Union. According to Adam Smith, every individual attempts to maximize wealth through trade or other entrepreneurial activities in a capitalistic economy. This may jeopardize an economy since wealth will not be evenly distributed for the sake of carrying out investments. In defining the invisible hand, (Sullivan and Sheffrin 32) describe it as the natural phenomenon that guides free market and capitalism through competition of scarce resources. The th eory of invisible hand is coined to serve self interests. Therefore, producers have freedom on how to handle the process of production and selling of goods and services. On the other hand, consumers have the liberty to choose on what to purchase hence both players in the market will choose product distribution and the price to be offered.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In addition, invisible hand plays a vital role in revenue creation for those who have invested in the market. Needles to say, competitors must plan well in order to improve their capacity and efficiency of production while simultaneously aiming at maximizing on revenue generation. Nonetheless, they will be compelled to price their products in a way that will increase their market share. Some economists like Gavin Kennedy and professor Emeritus Atuniversity of Edinburgh, Scotland have questioned the integrity of this indirect form of economic system know as the invisible hand. They conclusively differ that its contemporary use in latest thinking lacks inherent compatibility with the indeterminate manner employed by Adam Smith. Kennedy presents his sentiments to support Smith’s intentions in using the word invisible hand in the current debate. In line with this, he continues to argue that invisible hand should not be associated with Adam Smith bearing in mind that there is lack of adequate proof that Adam Smith contributed any significance to its meaning today. The personalities who came up with the invisible hand concept thought that capitalism would benefit all traders. Nevertheless Adam Smith did not believe in a magically benevolent market that operates without checks and balances. Besides creating an environment where there is democracy in the market, there was need for government intervention. This was inevitable when the government needed to protect its civilians from manipu lation by traders. As a result some laws such as setting minimum wages for employees as well as ceiling the prices of commodities in the market were made. Therefore the natural laws of demand and supply were regulated and could not freely control the market. In contrast, the invisible hand concept was not employed in the financial market as some experts in financial modeling and portfolio risk analysis differed with Smith’s theory either partly or in totality. Moreover, investors would have to pursue individual profits which would yield outcomes that were globally negative. Due to their smart risk management strategy, they would have no significance in the real economy. In other words, were they to reduce their risks in selling their shares in the market, their effect would be far reaching on a global scale. Hence there is a need for investors to account for their actions in the market since their strategies will be a factor in determining the price. Every person intends to l abor for his own gain rather than for the larger society. In so doing, the entire society will benefit. When an individual prefers to trade locally, the economic benefits are two-tier in the sense that the individual entrepreneur will benefit alongside the society where that particular investment is being carried out. A local investment will equally aid in producing the greatest value for the industry concerned.Advertising We will write a custom essay sample on The invisible hand specifically for you for only $16.05 $11/page Learn More Therefore such an entrepreneur will be led by the invisible hand to attain certain positive objectives which had not been planned for in advance. In pursuing an individual’s gains as an entrepreneur, a lot of positive economic returns will be ploughed back to society contrary to the original intentions. As a result, more will be achieved in the market as a whole (Kennedy 252). In line with the discussion above, it is definite that capitalism will be indirectly responsible (or have an invisible hand) in achieving the stability of the given economy. This implies that the individual pursuit by entrepreneurs elicits multiple effects to an economy since there will be free exchange of goods and services, comparative advantage will be established, and specialization will take place as well as substantive division of labor. When all of these factors are brought on board, the entire economy will benefit albeit from the unpopular economic system of capitalism (Sullivan and Sheffrin 37). At this point, it is also necessary to elaborate on the effect of modern hand. At initial stages, process is performed without explicit agreements between the acting agents and its outcome will be produced in a decentralized way. Secondly, the agents will perform the process unintentionally. This means that the process will work out even without the agents’ knowledge hence called invisible. The byproduct of this process is its total outcome but agents’ aims are neither planned nor coordinated. Adam Smith stated that the invisible hand system would work well in the free market economy. In this regard, the players in the market will be forced to think about the wants of other people. He identified that consumers and entrepreneurs will depend on each other. Hence they will seek help and cooperation from the other so as to fulfill their desires (Kennedy 250). At the free market, consumers will seek the lowest price while producers will pursue the highest rate of profit. Therefore, producers will invest in projects that the consumers considered to be highly valued. At this point, there will be insatiable demand which will influence the market prices. Moreover, producers will tend to appeal to the consumers proving to them that he cares for their goodwill in using the product he offers. According to smith, when producers propose an exchange in what they have, it can be of great use to cons umers. In addition, this will nurture and build their self esteem since they will be in a position to assess their needs in the free market economy as embraced in capitalism.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Advantages of capitalism Capitalism is usually characterized with an economy where resources and firms are privately owned in a free market in spite of the fact that there is regulation by the government so as to protect private property. As already mentioned, a capitalistic economy is also capable of triggering major growth in society. The following are some of the merits of capitalism: 1. Successful production- firms in a free market will have incentives in efficient production, minimizing costs and improving productivity as well as enhancing competitiveness. As long as these conditions are maintained, they will be able to operate their business and make meaningful gains. 2. Financial incentives- producers will only invest in the businesses that will yield high returns. If such an opportunity arises, they will be ready to take risks on it. 3. Little interference from the government- in a free market economy, there is plenty of information about the conditions expected hence produc ers can be able to plan in advance. Due to lack of control of the economy by the government, challenges posed by corruption, lack of incentives and poor information do not arise on a regular basis. 4. Allocation of resources is cost-effective- capitalism being the indirect influence on the market ensures that resources are distributed according to consumers’ choice. 5. Dynamic efficiency- firms need to maintain their efficiency in the market by responding to the consumers’ trends, tastes and preferences (Sullivan and Sheffrin 40). Disadvantages of capitalism 1. Monopoly behavior- firms will be willing to pay low wages to employees while at the same time charge exorbitant prices to their consumers. 2. Inequality- in capitalism economy, resources are inequitably distributed. Hence, only a small percentage of the population workforce will possess the resources. Due to inequality of wealth and lack of government concern, poverty may arise leading to emergence of slums, dis eases, and homelessness. This may compel people to migrate to other parts with more resources. 3. Immobility- it is difficult in a free market economy to transfer resources from unprofitable sector to a more profitable one. This may hinder equitable investments and distribution of resources. 4. Irrational behavior- economic fundamentals are ignored which results into people being caught in hypothetical bubbles leading to irrational behavior. 5. Limited government control- this may result into manipulation of consumers by the producers (Sullivan and Sheffrin 41). Economic crisis and capitalism The capitalist system has for many years proved to be a great engine in human prosperity. It has created profit incentives for the industry as well as literally pulling hundreds of millions of people out of poverty across the globe. The year 2008 was filled with economic crises. First of all, there was the food crisis which was particularly threatening to poor consumers. Secondly, there was a r ecord increase in fuel prices which affected all oil-importing countries around the globe. Towards the end of 2008, global economic downturn was almost at its peak, gathering momentum at unprecedented rate. The downturn intensified as the year 2009 started. At this point many economists feared a full-scale depression (Kennedy 259). Hence there was a need to look out at the nature of capitalism and whether it needs to be changed. However, defenders of capitalism are against the idea and believe that capitalism is unnecessarily being targeted for shorter economic problems. They believed that economic scenarios were as a result of bad governance and greed by some individuals. The question that arises is whether there is alternative approach or not since economists are still seeking substantial reforms to counter capitalism. Works Cited Kennedy, Gavin. â€Å"Adam Smith and the Hand: From Metaphor to Myth†. Econ Journal Watch 6.2(2009): 239-263. Print. Sullivan, Arthur and Steven Sheffrin. Economics: Principles in action. Upper Saddle River, New Jersey, Pearson Prentice Hall, 2003.Print. This essay on The invisible hand was written and submitted by user Cayson Nolan to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.