Management Assignment

The company knows the demands of the customers and they are well orientated in the service and the knowledge of the products and this is the element that makes them prosperous. Jean’s Rare Find Books belief in customer service and satisfaction enables a comfortable and peaceful atmosphere and in return produces a strong customer loyalty for the company. Customer satisfaction and customer retention externally and internally is measured by the perspective of the customers and thus implements the reason for the company’s prosperity. Customer perspective is a key factor on how the customer views the company.

Customers want the business to produce quality products at reasonable price. You have different types of customers. There are different types of customers there are loyal ones, young ones, elderly, family or one-time customers.

Marks and Spencer has many external forces that affect the company. These are known as macro environmental factors. There are six of these forces, Political, Economic, Sociological, Technological, Legal and Environmental factors. These external factors affect the types of products/services Marks and Spencer offers, the nature of its market positioning and strategies, there relationship with their customers and their suppliers. These external factors allow Marks and Spencer to develop:

Customer service is the most important aspect of any business. Without an adequate relationship with its consumer base, a company is at an enormous disadvantage.

According to the systematic approach to managing diversity, recruitment and retention are a critical component of diversity management. Summarize the issues involved in recruiting and retaining a culturally diverse workforce. Regarding diverse employees and diverse employees and diverse markets, Canas and Sondak argue that better-performing companies may simply attract the best talent among all groups of workers. Explain the meaning, and discuss whether you agree disagree.

The macro environment is defined as the major external of uncontrollable factors which dramatically influence to the business strategies and impact its performance by Gupta (2013). The external environment scanning states to assist the organization realize the issue and understand the dynamic market. The interesting external environment analysis model is Porter’s Five Forces Model which consist of new entrants, buyer power, supplier power, treat of substitutes and rivalry (Julius, 2014). According to Holden, in term of rivalry, the extremely higher fuel consumption of Holden alert to the organization to lose its market share which causes to reduce the number of customers and its competitive advantage. At that time, the poor car’s performance

The Utah Symphony and the Utah Opera have combined into one company. Anne Ewers is the new leader of the combined companies. This paper will help her in the development of a new strategy to look at the success of the merge. The Utah Symphony is a group II orchestra. This is based on the level of expenditures every year. In the year of 2001-2002 the average expenses were around 8.8 million for group II orchestras. The Symphony spend around $12.2 million for that year. The Utah Symphony was in the top orchestras in the United States. Even though the symphony had a lot of money the financial state was declining. The musicians were part of a union. They were negotiating their

This audit exercise from the end of chapter four requires analyzing a figure which contains a checklist for innovative organizations to consider. The questions at hand refer to ways of using the checklist in determining a company’s readiness to implement a strategy that would be innovative. It requires identifying at least a major area to be examined and addressing important considerations from this area.

Note: Final Sign Off can only be done when the student has completed both theory and practical components of the unit. (Please attach evidence of theory and practical at the back of the coversheet)

In the five forces model by Porter, four forces will influence the fifth one (see the model on the right). The bargaining power of suppliers, the bargaining power of customers, the threat of substitute products and the threat of new entrants will influence the fifth force: the level of competition in the industry (S.Clegg, C.Carter, M.Kornberger, & J.Scheitzer, 2011).

Week 6 Knowledge Check Concepts Mastery Score: 13/13 Questions Differences Between a Firmâs Social Obligation, Social Responsiveness, and Social Responsibility 100% 1 2 3 Green Approaches/Shades of Green Model 100% 4 5 6 Factors to Determine Ethical Behavior 100% 7 8 9 Ways Managers can Encourage Ethical Behavior 100% 11 12 13 10 Concept: Differences Between a Firmâs Social Obligation, Social Responsiveness, and Social Responsibility Concepts Differences Between a Firmâs Social Obligation, Social Responsiveness, and Social Responsibility Mastery 100% Questions 1 2 3 1.As a university student, your institutionâs social principles

Identifying influencing factors of a company’s macro-environment helps in the strategic development and management within a company. The macro-environment outlines an industry and the competitive environment as seen in figure 3.1, (Gamble, Peteraf, Thompson, 39). Within the macro-environment there are the political factors, economic conditions, sociocultural forces, technological factors, environment forces, and legal/regulatory factors. All of these factors blanket the habitat an industry and its competition thrive in. Inside the industry and competitive environment there are five factors that influence an individual company. The five factors are suppliers, rival firms, new entrants, buyers, and substitute products. The biggest impact on a company are these five factors. For example, Under Armour focuses on their industry and competitive environment to survive and grow. Their strategy to win over the market share from Nike and Adidas consists of expanding a stable and original brand within record time, taking an innovative approach to their product line-up and brand-name appeal where the market seemed to be barren, and lastly, the company enters in the foreign market early on to establish its brand and influence markets outside of the US.

The company that is listed as number one on the Fortune 500 list is Wal-Mart. This company has much strength that makes it very interesting for investment. Wal-Mart was founded by Sam Walton in the 1950’s and faced competition among many regional discount stores. In 1962 Wal-Mart officially began with its first store in Rogers, Arkansas. Wal-Mart now has over 600 discount stores in the United States and stores located in 28 countries. No matter the size of the company its purpose has not changed over the years. Mr. Sam Walton said, “If we work together, we’ll lower the cost of living for everyone... we’ll give the world an opportunity to see what it’s like to save and have a better

It is imperative to satisfy customers and give them an amazing experience at the company. While it cost less to sell to existing customers and companies can increase profit by selling to the same customers; if customers are satisfied, there is more chance they will come back for more services or products. Satisfied customers are a free marketing for the company. However, it is the opposite if customers are dissatisfied. Dissatisfied customer will tell 8 to 10 people about his or her experience (O’Brien, A & Marakas, G. 2004). If by any reason, representatives see that the customer is not satisfy, they should act fast and fix the problem. Furthermore, there is more chance for sale representatives to sell to an existing customer that to a new customer. A good strategy for customer retention is to reward good customers. Companies can easily do

Porter’s five forces are used to determine the competitive intensity and attractiveness of a market. These are close forces that affect a company’s ability to make a profit and serve customers. If any of these forces change, a company must reassess its marketplace. The five forces include: the threat of substitute products, the threat of the entry of new competitors, the intensity of competitive rivalry, the bargaining power of customers and the bargaining power of suppliers.