Description of the company: Do It Yourself (DIY), is a specialized gift shop located in the innovative locality in Gunwharf Quays in Portsmouth. We specialize in a variety of high-quality merchandise ranging from customizing gifts that are created by our business and in the development of our customers liking. All products will be hand-made. It ranges from middle to upper class and prosperous clientele. Furthermore, Our company image illustrates what customers are seeking as simple and elegant gifts to their taste. Moreover, our company is a partnership business, where 5 entrepreneurs will be investing in the production including me. The capital that we have invested into the business is £85,000. We have entrepreneurs from a general …show more content…
Adopting strong culture develops the employees professionally and personally. Moreover, manufacturing unique products by implementing new designs and offering affordable prices. • Increasing Profitability: Our clientele will achieve incremental profit margins; our appearance will make the surgical process of the job probably reducing costs proportionally. Moreover, increasing return on investment shows how the return profits on the capital that interested. • Development in Market Share: We will improve in market share that will show how our products or services will be more desirable. Products: Our products that we will be selling are desirable and designable knitting cups, ties, bow ties, key chains and bracelets. Customers that come as tourists, visiting or being residents have high interest in affordable and simple gifts that represent something to them or to the receiver. Sincere ideas that convey true real feelings have more long-lasting and significant impact. Our gifts will be appropriate and relevant to the persons. Many people go for hand-made gifts due to their significance. When someone thinks of a gift the thoughts of the price does not matter to them. Our products will be memorable, at the same time reasonable. Legal structure: Our business consists of 5 entrepreneurs as partners.
A healthy organizational culture can be done with two different strategies. The first strategy being an action plan for developing a company that gives back to the employees. A good company understands the importance of building a positive morale and disposition among the staff. Regions Bank has developed a "team works" incentive plan that rewards good sales behaviors for the branches. This has given the employees an opportunity to not only make a base salary, but reap rewards for attainable quarterly sales goals as well. When an employee takes control of their production it gives a sense of ownership to the staff member to take pride in their company and help them develop on a larger basis.
A company’s culture can have a huge impact on employment relations. If the organisation encourages staff to be engaged and involved in how business is delivered, they are more likely to be motivated and productive and retention will be higher. Creating a good reputation outside the business can also help with future recruitment.
A good culture encompassing strong values, vision, morale’s and beliefs and behaviours expressed by employers and employees of an organisation can be the driver of the overall performance of a company. A good culture can help support the implementation of changes and new initiatives and are likely to be supported by those involved.
The culture of ownership is great strategy to motivate employees because the owners try harder than employees, both to improve the customer satisfaction and to save costs. This can be done in 2 ways
Wells Fargo & Company was incorporated on the 24th of January 1929 in San Francisco as a bank holding company that provides financial services on a retail and commercial level through the internet and banking offices etc. It operates in 3 segments being investment management, wholesale banking and community banking in the form of loans, insurance and just wealth management. It is an international bank that has different administrative facilities in locations that include Texas, Las Vegas, California, Portland, etc. In September 2016, the bank received bad publicity due to its fake accounts scandal. Things revealed themselves as the company fired 5,300 employees being 1% of their workforce (Kouchaki, 2016).
Culture and Employee skills: Deep rooted quality consciousness and team spirit. Highly skilled staff and high morale. Good labor elation with effective policies leading to high level of empowerment.
The purpose of this paper is to analyze the culture, the internal, and the external factors in an organization. Our job is to examine the entirety of the organization. That would include the structural and environmental elements that effect the operation of the business. We will also take an in depth look at the perspectives of employees, managers, owners, and clientele.
Organizational culture could almost be considered the roots of a company. The way a company’s employees think, the way the customers feel, and the company’s decisions are made are all based around the culture that the company has laid for itself. An employee’s values, thoughts, and actions should reflect those stated in the company’s mission. Southwest Airlines and American Airlines, while both attempting to create a culture that is comfortable and pleasing to their
Not only is a strong corporate culture good for business by increasing customer satisfaction, it also can help to decrease turnover and save on human resources expenditures. Internal integration should start the minute a new employee enters a company. Training of new employees should include some way of helping them to understand the company's culture. The new hire training program currently in use at Wal-Mart stores includes videos and other information about the founding of the company as well as other general and specific information about the company's culture as well as expectations related to this culture. This is important because a company's culture is not always easily apparent to newcomers and this is what keeps Wal-mart's culture strong (Berg, 2001).
The culture that the executives wished to maintain is one of big ideas, large thinking, and a strong emphasis on creativity. It is one that opposes bureaucracy and rigidity without cause, and despises formality without passion. And it is one that strives to stay relevant, fresh,
When trying to maintain a healthy organizational culture the leader has many factors that he/she must balance. Maintaining a healthy organizational culture may be viewed as an entire strategic
Organizational culture has been described as shared values and beliefs that underline a company’s identity. A strong culture that encourages employees from the top to the bottom in adaptation and change can increase organizational performance by energizing and motivating employees, shape behaviors, unify personnel in the goals / objectives and align employee’s actions with the priorities of the company (Daft, R., 2013). Creating a constructive culture should be a manager’s top priority because the right culture will propel a company into a top performer in its industry.
The culture of an organization is the set of values, beliefs, behaviors, customs, and attitudes that helps its members understand what the organization stands for, how it does things, and what it considers important"(Griffin, 49). In other words, "the way things work around here" (Dr. Williams). In order for any small business or large corporation to be successful, the employees must understand what is expected of them. While things might be slightly different in a large corporation versus a small "mom and pop shop", the goal of both is the same. MAKE THE BUSINESS MONEY. The topic of my paper will be on makes a good corporate culture.
A strong organizational culture provides both the company and its employees with direction and stability. The culture within an organization can be powerful enough to effect employee attitude and behavior as well as performance and turnover ratio. According to many scientific studies, there are seven primary characteristics used to define the culture of an organization: innovation and risk taking, outcome orientation, people orientation, team orientation, aggressiveness and stability.
Existing culture can in times be very hard to continue with because of the change in the growth or in the strategic change in the organisation. At such appropriate web of culture is important to be identified or that can be a problem in the progress of the organisation. These identified elements will give organisation a bigger picture of what was going wrong and how can they change it towards betterment of the organisation.