Business And Management Examples and Topics

THE CONCEPT OF FRAMING IN CROSS-CULTURAL BUSINESS COMMUNICATION

The Concept of Framing in Cross-Cultural Business Communication

[Author’s Name]

[Institutional Affiliation(s)]

The Concept of Framing in Cross-Cultural Business Communication

Research Paper Analysis

Adoption of an appropriate form of business communication is recognized as a necessary condition for the corporate organizations to successfully meet their organizational objectives. The broad idea of business communication is closely linked with the spectrum of cross-cultural organizational setting. It is one complex phenomenon for the stakeholders to meet the targets of proper communication considering various aspects of the cross-cultural workforce. It is noteworthy to mention that the concept of cultural frames is actively linked with the factor of human experiences under the domain of business communication and social interaction level.

The central focus of the researcher in this piece of research work is to critically analyze the approach of frames and their implications in signifying experience considering the perspective of cross-cultural business communication. The idea of framing is considered by the researcher as the central domain to analyze various forms of cultural differences and their influence on the spectrum of business communication. The awareness, comprehension, and appropriation of differences are characterized as the fundamental aspects to determine the requirements of business communication when it comes to the main approach of cultural differences.

It is noteworthy to mention that the dissimilarities of communication media can be observed by considering three basic forms of opposition. These main spectrums are characterized as high-context/low-context, sequential/synchronic, and affective/neutral cultures (Dumbravă, 2010). All these theoretical measures can be used to effectively determine the idea of cultural differences and apprehend business communication strategies accordingly. It is recommended by the researcher that the identification of basic distinctions in the form of language for diverse culture is an obligatory condition to develop and implement desired forms of business communication. Moreover, the practical approach of cross-cultural negotiations is another significant measure to positively influence business interaction through different verbal and non-verbal communication cues. Proper knowledge of different patterns of perception, and attitudes of people in a cross-cultural context is an essential condition to ensure a successful form of business communication between all the shareholders.

References

ADDIN ZOTERO_BIBL {"uncited":[],"omitted":[],"custom":[]} CSL_BIBLIOGRAPHY Dumbravă, G. (2010). The concept of framing in cross-cultural business communication. Annals of the University of Petroşani-Economics, 10(Part I), 83–90.

Subject: Business and Management

Pages: 1 Words: 300

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Unit I Scholarly Activity

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[Include any grant/funding information and a complete correspondence address.]

Unit I Scholarly Activity

Core Component

Goal

Responsibilities

Typical Job Titles

Cost

Strategic Management

Formulation, implementation and evaluation

Management, Marketing, Finance and accounting, information systems, research and development

1. Administrative Services Manager

2. Construction Manager

3. Food services Manager

Salary

Finance and Accounting

Spending and earning profit

Investments, financing, dividend decision making

1. Accountant

2. Auditor

Money

Marketing

Branding

Provide goods and services

Customer analysis, Sales Promotion, advertisements, product and service planning, pricing, marketing research and Cost/Benefit analysis

1. Marketing Specialist

2. Marketing and Promotions Manager

3. Marketing Manager

Pricing

Sales

To sale products, achieve sales targets and assist customers

Cost/Benefit analysis, selling products and services and Positive Business Relationships

1. Sales Director

2. General Manager

Revenue

Operations Management

Efficiency in production and services

Management of production of goods and services

Management of Operation processes and strategies

1. Operations Managers

Costs

Subject: Business and Management

Pages: 1 Words: 300

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Unit II Assignment

Exercise # 1

Environment

List the characteristics of the environment as it relates to the business (at least three each)

Briefly describe how the environment impacts the business (at least four sentences each)

Social

1. Population

2. Demographics

3. Location

The social condition does a major job in how a business works and markets their items. The number of inhabitants in that specific area will lessen the market interest dependent on the size of the populace. The socioeconomics of the area will likewise guide the business in what bearing to go dependent on the necessities and needs of the populace, in light of the age of the socioeconomics. Obviously the area will manage the kind of items that will be sold dependent on the topographical area whether it is a cold or hot weather.

Technological

1. Online shopping

2. Media

3. Communication

Because of the progress in technology at this day and age, organizations have arrived at new statures. Web-based shopping enables purchasers to purchase items notwithstanding when a specific store or business is situated over the world. Organizations advance and promote their items through the World Wide Web, explicitly online life which encourages them to arrive at a great many customers day by day. Using communications, shoppers can undoubtedly take control of a business and address a client assistance delegate to ask about a request or an item or any issues they may have.

Economic

1. Supply and Demand

2. Prices

3. Employment

The monetary condition will be direct to a business no matter how much income a retail business will make. On the off chance that the utilized in the zone is great, at that point purchasers will have assets to purchase the items. This will likewise manage the organic market, if the locale where the store is found is a region where joblessness is high, at that point the interest will be less. Retail locations will likewise need to either raise or lower their costs through deals dependent on the previously mentioned elements.

Legal

1. Domestic laws

2. International laws

3. Taxes

With regards to the lawful condition, retail organizations must maintain the laws that oversee that particular area for example Nation, State, Region, and so forth. These laws oversee how much duty a retail business can apply to their items. Work laws must be pursued and guarantee that representatives are of legitimate age. The lowest pay permitted by law laws should likewise be pursued and guarantee that no representative is being paid under the table for not exactly the lowest pay permitted by law.

Market

1. Advertising

2. Competition

3. Investors

The market condition is critical to a retail business in light of the fact that at last a business has to know who their intended interest group is and how to speak to that particular crowd. Promoting assumes a significant job with the challenge the same number of retail locations convey comparable things, retail locations need to ensure that their items stay applicable. For instance Macy's and Dillard's are two of the greatest retail shopping stores that convey fundamentally the same as things. It's significant for this two stores to stay attentive of what the other is doing and remain on the ball.

Exercise # 2

Environment

List the characteristics of the environment as it relates to the business (at least three each)

Briefly describe how the environment impacts the business (at least four sentences each)

Social

1. Location

2. Population

3. Education Level

When considering business that produces electronic items, it is imperative to mull over the area, populace, and the training level. The nearby populace that will work for the organization must be in the know regarding innovation and how to work it. The representatives must have a specific degree of instruction so as to work complicated apparatus to guarantee that assembling is done accurately. More youthful individuals would most likely be the intended interest group to utilize in view of their comprehension of hardware rather than more seasoned individuals. At last the area must be in closeness of a major city so that there are sufficient individuals to fill the activity positions.

Technological

1. Online stores

2. Engineering

3. Manufacturers

Innovation helps organizations with simpler and quicker creation. In a hardware fabricating business the utilization of robots and machines has from multiple points of view supplanted difficult work. Today numerous vehicle businesses use machines to assemble autos and subsequently increment profitability. Numerous individuals depend on online stores to purchase their hardware and make it a lot simpler to explore and think about items next to each other.

Economic

1. Supply and Demand

2. Competition

3. New products

All together for electronic business to remain above water they should have enough supply to satisfy the need of the shoppers. Organizations need to keep awake to date on what the challenge is thinking of straightaway and attempt to coordinate that. Brands, for example, Apple and Samsung think of new items consistently and with that the costs are additionally expanding. Organizations need to guarantee that their items are likewise reasonable by most of the populace, if not the item won't get enough income to compensate for the creation.

Legal

1. Copyrights

2. Patents rights

3. Regulations

In the electronics business it is essential to shield your items from the challenge. This implies organizations must utilize copyrights so the challenge doesn't take your thoughts. There are likewise guidelines that oversee how a business ought to consent to the measure of smoke/contamination that a hardware fabricating business makes. Different guidelines will cover the import and fare of certain gadgets, explicitly those that utilization lithium batteries.

Market

1. Target audience

2. Prices

3. Competitors

The market condition drives the electronic business and at last leads a business to set the correct cost for their item. For instance in Korea the utilization of hardware is a lot higher that in numerous different nations, and in this manner the interest is higher there. Organizations additionally consider their intended interest group dependent on the item they are selling, for instance tablets for early age adapting, for example, jump frog. Another trademark that drives the market condition is the challenge as gadgets change always, organizations must stay aware of the contenders.

Exercise # 3:

Taking everything inaccordance, environmental variables are similarly essential to maintain an effective business whether it is a retail location or a gadgets fabricating business. There were numerous similitudes between the attributes and the effects of nature on both the retail business and the gadgets producing business. Two conditions that were fundamentally the same as me were the lawful and market situations for the two organizations. Lawfully the two organizations must submit to the laws and guidelines set out by the legislature. Bothe organizations must have copyrights all together for the contenders not to take their thoughts. Additionally with the market condition the two organizations must have the option to arrive at their intended interest group through publicizing and request to their shoppers. The evaluating of their items must meet the nature of their items and make it moderate for the customer too.

Considering this data, as a business manager, I would ensure I comprehended the significance of every one of the conditions and how to apply them. I would exploit innovation so as to arrive at the buyer and my intended interest group using on the web commercial.

Subject: Business and Management

Pages: 2 Words: 600

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Unit III Essay

[Author Name(s), First M. Last, Omit Titles and Degrees]

[Institutional Affiliation(s)]

Author Note

[Include any grant/funding information and a complete correspondence address.]

Unit III Essay

Motivational Theory Motivating Me

It cannot be denied almost by no one that every theory and idea of motivation plays a vital and enough huge in the process of motivating one in life. In other words, the role of almost every motivational theory and idea is high in motivating a person in his or her life. While the same is the case with me. It means that the role of almost every motivational theory and idea is significant in motivating me. These theories and ideas have motivated me in different manners and different cases or situations. In addition to it, the role of motivational theories and ideas is credible because it played a positive role in getting me up in several situations. Furthermore, these theories and ideas have not impacted and similarly motivated me but each of them has very varying influences.

As discussed, there are many theories and motivational ideas and all of them have motivated me up to an extent in my life. But it can be found highly effective if things are ranked based on their role, significance, and influence. Hence, the same has been applied here. It means that the motivational theory that has motivated me the most in my life and I consider it as the best motivational theory for myself is the Maslow Hierarchy of Needs Theory. This theory has always affected me in a way that enabled me to come up with better life experiences and achievements. I mean that the Maslow Hierarchy of Needs Theory has always motivated in the way that it made me and still making the individual who prefer to not get satisfied with what achieved (Jonas, 2016). While it made the person who always looks and fights for better in life and goes to achieve more than have at hand.

Maslow Hierarchy of Needs Theory

The Maslow Hierarchy of Needs Theory states that individuals are motivated to achieve certain needs and that some needs take precedence over others. This theory finds that there are needs in one’s life that keep the person motivated by requiring him or her to achieve them. These needs are mainly categorized into five main categories by this theory which are;

Physiological Needs

Safety Needs

Love and Belonging Needs

Esteem Needs

Self-Actualization Needs

Physiological Needs

Physiological Needs includes all of the needs that are the basis for one’s life to live. In short, Physiological Needs include biological needs such as food, water, and clothing, etc. If these needs are not satisfied then one never thinks the safety needs as he/she cannot even live or survive without having these resources at hand. This motivational theory considers these needs as the most important as one wants to have them satisfied them at any cost.

Safety Needs

Safety needs include the needs such protection from elements, order, security, stability, and freedom from problems and fear, etc.

Love and Belongingness Needs

These are the needs that motivate the person to have belongings in life. This means that one wants to love and be loved. This involves the motivation for interpersonal relations. The example of this need mainly includes families, friendships, trust, and acceptance and/or affiliation with a group of people.

Esteem Needs

This includes the needs of oneself esteem such as mastery, achievement, and independence and desires for respect and reputation such as having status, etc. (Jonas, 2016).

Self-Actualization Needs

This involves the realization of self-fulfillment, personal competence, and potential, seeking for growth and success and peak experiences (Wu, 2016). In short, this motivates requires and motivates people “to become everything one is capable of”

This theory has motivated me in my real life but mostly it motivated me in my academics. This theory had done and still doing so because it motivates me to gain knowledge and learn new things in my educational life. In the early stage of education, I was only engaged to study and proceed to higher classes. But with time, I realized that I have to proceed to the next classes by getting better grades. So, at the time when this area has been covered then I started looking for studying extra things. So for that, I started reading general books and newspapers to get engaged with on-time updates and gain historical information (through reading books) to satisfy the need of studying extra materials.

Proceeding further, this theory motivated me to have social connections and interactions with professional people beyond my academics. This was the next need in theory’s terminology (Wu, 2016). So for the purpose to accomplish the need, I began to get engaged in social activities. Here, I started to become a part of seminars, annual programs, and events held in the college and university as participants and organizers. So with this involvement, I meet my teachers, seniors and outside persons (visitors) in an open (formal and informal ‘up to an extent’) so that I created my social connections. The result here is I have more friends and personal association with some teachers which benefit me a lot in different ways.

Example 1

The career guidance by business leaders who use this theory has motivated me successfully. This has motivated me because business leaders assist employees to meet their potential as it does empower them by offering increased authority and responsibility. As a result, employees look for something more credible and work harder (Jonas, 2016).

Example 2

In a situation where business leaders integrate employees with the company's mission by satisfying their needs, this theory did not work. It did not work because they focus on the organizational objective behind motivating employees but employees worry about their basic needs before fulfilling the company’s mission (Jonas, 2016).

References

Jonas, J. (2016). Making Practical Use of Maslow’s Hierarchy of Needs Theory to Motivate Employees: a Case of Masvingo Polytechnic. Journal of Management & Administration, 2016(2), 105-117.

Wu, Y. (2016). Hierarchy of Needs Theory and the Positive Psychology Construction of Chinese College Students. In 2016 2nd International Conference on Humanities and Social Science Research (ICHSSR 2016). Atlantis Press.

Subject: Business and Management

Pages: 3 Words: 900

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Unit III Reflection Paper

Leadership at Apple Inc.

Name of student

Name of institution

Apple Inc. was the first company to introduce personal computers and now the company I involved in making mobile phones and other related products. The vision of company states that its will continue making great products by innovation CITATION Ehi13 \l 1033 (E.Aimiuwu, 2013). The company wants to own and control major technologies used by most of its products. Company wants to focus on a small number of projects which will really result in some meaningful outcomes. All our groups help each other in a way that no other company can match. There is a strong set of values that drive the company and it will continue to prosper.

There are three main aspects of this vision statement which are related to leadership of company. First is the innovation which is basically forced by the leadership. In the company, all employees can give their ideas regarding changes in any product. These ideas are put in practice by the company to bring any improvements in their products. This is called participative leadership which includes all people in the company. The second aspect is the self sufficiency of company, the leaders see that it may be difficult or costly for the company to manufacture a product if some parts have to be taken from other companies, and thus, the leadership has decided to take control of all the important parts used in its products.

The leadership at apple wants to keep all people involved. If these employees do not follow the normal procedure in the company, there may be several problems for company. Company will not be able to innovate because there will be poor coordination between employees and leaders. If some employees do not listen to their seniors, company will not be able to produce all the required components for its products. Expansion is one of the most important aspect related to company and if the employees do not follow the leadership, correct and adequate expansion decisions cannot be takenCITATION How \l 1033 (H.Yu, 2013).

Company is focusing on a small number of projects so that it can work profitably. The followers can play a vital role in decision-making and goal setting because they will be at the front end of processes. They will be in a better position to see the trends in consumer behaviors. If they are motivated, they will communicate these changes to their leaders. Ease of communication will play a vital role in this regard which is an important part of participative leadership undertaken by the company. Employees will be allowed to present directly in front of their leaders during meetings.

If company follows only top-down communication, it will affect followers negatively because they will have no option other than following commands. Two way communication will positively affect them because their suggestions will reach top management and will be implemented. This will increase the motivation in employees because they will feel important in organizational decision making.

In my opinion, company has to continue its current practices regarding leadership. Innovation has been the key to success for company and it has been made possible by proper coordination between leaders and followers. Sales and its growth must be used as performance measure whereas the number of valid ideas presented should be used as performance measure of individuals. This is especially true for people working in departments related to product development and software development. Company should choose leaders who have similar stance of leadership which will include the followers in decision making and other important aspects. Effective team work is another criteria that can be used to measure performance of individuals. Those playing an effective part in teams will be considered high performers whereas those who have not been able to work well with teams, will be trained to improve their skills.

References

BIBLIOGRAPHY E.Aimiuwu, E. (2013). A Case for Calculating Innovation Score: Comparison between Apple, Inc. and Microsoft, Corp. . Information Systems Education Journal, 10-15.

H.Yu, H. (2013). Decoding Leadership: How Steve Jobs Transformed Apple to Spearhead a Technological Informal Economy. Jurnal of business and Management, 33-44.

Subject: Business and Management

Pages: 2 Words: 600

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Unit VI Case Study

[Author Name(s), First M. Last, Omit Titles and Degrees]

[Institutional Affiliation(s)]

Author Note

[Include any grant/funding information and a complete correspondence address.]

Unit VI Case Study

What Value Does This Business Bring to the Communities It Serves?

Through the values of self-sustenance and remote accessibility of the most important necessity to survive, food, the food truck business has won the hearts of many people in the communities where it is active. Large ranges of innovative and different cuisines can be enjoyed by diverse groups of people which was otherwise impossible for those living in far-flung areas.

Apart from bringing communities together through the channel of amazing food, the allure and decoration of the food trucks also draws the attention of people and drives them together over the mutual bonds of ethnicity and similar backgrounds.

What Are the Advantages of the Food Truck Business?

The food truck businesses have become quite a hype in this current age of consumerism which is conscious, extreme awareness expressed by the youth regarding their budget and expenditure, and the 24/7 requirements of pacifying their taste buds when they are on the go. There are many advantages of the food truck business which entail the following facts:

The requirement of a low level of initial investment

Involvement of a low operational and functional cost

Source of attraction because of décor and mobility

Experimentation with remote and far-flung locations

Liberty of expansion or building into a restaurant if the revenues are high

What Are the Risks Involved in This Business?

Although the food truck business offers massive potential and further possibilities of investment and expansion, there are huge risks involved ranging from the dangers of problems occurring in the vehicles to the vulnerabilities related to the operator and cook, as is evident from most of the cases that all the duties are performed by only one man CITATION Oku19 \l 1033 (Okumus, 2019).

Natural disasters such as heavy rainfall or snowfall can close the business until the weather is good which implies that there will be a decline in the revenues. There's also the risk of food spoilage as many truck owners can't carry a refrigerator or a chiller in the truck as well. The continuous motion of the food truck can also pose a threat and even if a single commodity is handled wrongly, it can result in fire or other contamination hazards.

What Characteristics of the Owners Help to Make This Business a Success?

Facing no barriers to entry in the food truck business, many people have started this gig and majority have failed as well CITATION Tru19 \l 1033 (Truong, 2019). Being successful and acquiring a certain upper limit of revenues in this dynamic business demands some unique characteristics and personality traits from the owners of this business CITATION Fah19 \l 1033 (Fahlevi, 2019). In the video, Dan is shown to be an extremely resilient individual and when asked what he has learnt so far from the failures of this business, he replied that everything takes longer than expected, which indicates his endurance. Therefore, some qualities which a successful food truck owner must possess are mentioned as follows:

Displaying a passion for the business

An expert in customer service

Courageous and brave in the face of adversity

Action-oriented

Curious and helpful

Focusing on long-term goals

What Type of Entrepreneurship Is Involved in the Video? Explain.

Out of the many types of entrepreneurship, the one involved in the video is categorized as pure entrepreneurship. Out of the duo, Dan Kraus left his well-paid job in finance and started his food truck business. The two owners of the truck are pure entrepreneurs, constantly working and reworking their initial business plan as they face different problems. In pure entrepreneurship, often the entrepreneurs are not satisfied with their existing job even though they are being paid well and have access to all the perks of a 9-5 job. Lack of satisfaction and absence of a particular thrill in an individual’s life drives him to open his own business.

Besides this, often an individual may have a business idea which has unrealized potential and may do extremely well in the foreseeable future, so the individual uses all of his savings, takes a loan in many cases and becomes a pure entrepreneur to achieve his goals.

Furthermore, the food truck owners take pride in the sense of ownership and expressed content saying that in the beginning when sales were not high, it was difficult to incur additional costs but practicing complete autonomy on the business makes it easier for us to deal with hardships.

Why Is Additional Support Critical for the Success of This Business?

In the video, a non-profit organization, ECDI, lends additional support to Dan and Steve's food truck. Having sunk a lot of their savings in this business, Dan and Steve rely on ECDI for any last-minute expenses if there is a mishap. Additional support is vital for the success of a food truck business because there are situations when the truck owners can lose money and liquid capital. The business also requires support for acquiring large sinks, grease disposal, electrical hookups and a secure parking spot when the truck is not running. ECDI, in this video, helps Dan and Steve when they are short of something vital.

What Suggestions Would You Recommend for This Business?

I would suggest that the truck owners should initially plan and devise a scheme for building capital for a year's worth to be on the safe side in the financial perspective. The development of a particular identity and innovative cuisine which is restricted to Dan and Steve's food truck only, can ensure growth and increase in the success rate. Controlling the food prices and ensuring consistency in quality and quantity are also some useful tips to secure the business.

References

BIBLIOGRAPHY Fahlevi, M. Z. (2019). LEADERSHIP STYLES OF FOOD TRUCK BUSINESSES. Journal of Research in Business, Economics and Management, 2437-2442.

Okumus, B. &. (2019). Florida's Food Truck Industry: Tackling the Food Safety Challenges and Health Risks.

Truong, L. (2019). CRITICAL FACTORS BEHIND SUCCESS AND FAILURE OF SMALL BUSINESS: A Study in Food Truck Industry in Finland.

Subject: Business and Management

Pages: 3 Words: 900

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Unit VII Discussion Board

[Name of the Writer]

[Name of the Institution]

Unit VII Discussion Board

Business Ethics

Business Ethics or Ethics of Business is the code of conduct that a business or organization follows while performing its business operations. In other words, business ethics is the study of proper business policies and practices which are in regard to the potentially controversial issues of the business. The crisis points that are associated with business ethics mainly include corporate governance, inside business trading, corporate social responsibility, organizational practices and their business ethicality, discrimination, data protection, and fiduciary responsibility, etc.

Why Business Ethics Matters?

There is a number of reasons that state that business ethics matters almost hugely. The main reason which clarifies that why business ethics matter can be witnessed almost every day on the news or newspaper when a business, company, or organization is held accountable to questionable behavior while their brand is tarnished (Koehn, 2005). In short, business ethics matters because it enables the business to make steady and responsible decisions and keep a highly ethical business behavior when operating.

The Distinction between Integrity-Based Ethics and Compliance-Based Ethics?

The difference between integrity-based ethics and compliance-based ethics is enough to clear and fine to understand. These differences can be best explained by the examples below.

In the case when you drive on a freeway, you reduce the speed of your motor only at the situation and time when you approach the camera of any radar area to ensure that you may have a complaint and do not receive any fine. The ethics of such cases is known as Compliance Based Ethics. While on the other side, when a region or area has not been monitored by speed camera but the driver follows the speed rules is considered as Integrity based Ethics.

Organizations/businesses use both of the above approaches where compliance-based is accomplished through policies, while integrity-based ethics is ensured as per employee training and development (Geddes, 2017).

References

Geddes, B. H. (2017). Integrity or Compliance Based Ethics: Which Is Better for Today’s Business? Open Journal of Business and Management, 5(03), 420.

Koehn, D. (2005). A Role for Virtue Ethics in the Analysis of Business Practice. Business Ethics Quarterly, (Updated). 533-539.

Subject: Business and Management

Pages: 1 Words: 300

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Unit VII Essay

[Author Name(s), First M. Last, Omit Titles and Degrees]

[Institutional Affiliation(s)]

Essay

The Adams Resource and Energy Inc. is the Fortune 1000 company which produce as well as market the natural gas, crude oil, and the other products of liquid chemical. It is founded in 1947 by Adam Jr. as the ADA company for oil which become publicly famous in 1974. It has almost more than 800 employees. The service transport of company subsidiary includes the liquid chemical transport in entire continental Canada and the United States, as well as the corporation subsidiary of Adam Resource, which is engaged actively in the development and exploration of domestic gas and oil properties basically along the Texas Gulf Coast and Louisiana.

The Adams Resource and Energy Inc. annual meeting is held with shareholders at Houston, Texas on 18th May 2016 because for various purposes. It elected the eight directors board which will either serve for the next year or till their successors would be qualified and elected. It considered as well as acts as the Advisory Revolution at the Executive Compensation. This meeting also conducted with the other corporations which might properly come before meetings or the adjournments, therefore. The statement of the proxy, as well as an accompanying proxy, is furnished to the shareholders which is connected with proxies solicitation through Adams Resource and Energy Inc. directors board. The company would pay the solicitation cost for the proxies. Furthermore, solicitation through the mail is done; the proxies might be personally solicited through e-mail or telephone from employees, directors, and officers. These firms' expenses and corporations that are expected for exceeding $1,000 would be borne through the company. The social responsibility of corporation CSR referred to as the requirement for the business that is good for corporate citizens. The CSR is the law needs which protect the environment as well as contribute to social welfare. It is accepted widely as the modern business obligation. CSR went beyond the shareholders earning. It is also concentrated on the protection of the interests of each shareholder which include customers, employees, and suppliers as well as business communities operate within the corporation. It also consists of employee practices adapted by a human, the safety of the environment as well as engaged with the philanthropic projects. Few people are linked with such businesses related to no responsibility of society outside developing the huge amount of money which is possible under the law CITATION Kol18 \l 1033 (Kolb, 2018). It also supports the Social responsibility of a corporation which believes that the corporation must pursue the purpose of in-depth simply beyond profit maximization. The corporation Adams Resource and Energy Inc., as well as its subsidiaries, are partnered with the vendor of the third party, with the point of ethnicity, which provides secure, safe as well as confidentially report the company policy violation. It also consists of corporate through the law, business ethics code, the charter of the audit committee, charter of the compensation committee and the nomination of committee charter. In this corporation, each shareholder meeting is conducted for the directors' election which must be held on the places by timely meetings with the directors' board which is states in the notice of the meeting. The stockholders' meetings for such purposes might be held on such places and time with or without the Delaware State which stated in the meetings. Any of the actions needed must be discussed in the stockholders' meetings in this corporation. The stockholders who consented the writings must be given the prompt notice. The board chairman must preside on as well as the secretary should be kept the record of each meeting of stockholders as well as in the absence of these officers the duty should be done through a few people who appoint on the meetings CITATION Fer10 \l 1033 (A.C., 2010).

Being a leader it is required to develop the right incentives and motivation to acquire stakeholders with the initiatives which would not contribute immediately to the bottom line. For example, adding more solar panels in the rooftop. It required more support from insight into the corporation as well as engagement with the stakeholders who understand the important impact which should be thought over the short term CITATION Cor18 \l 1033 (Cornell, 2018).

References

BIBLIOGRAPHY A.C., F. (2010). Adams Resource and Energy Inc ethics and social responsibility. Pearson Education India.

Cornell, B. (2018). corporate responsibility report. GRI Standard Content Index.

Kolb, R. W. (2018). Business Ethics and Social Responsibility. Encyclopedia.

Subject: Business and Management

Pages: 2 Words: 600

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Unit VIII Article Review

Title page

Article review

Johnson examines the role of emotional intelligence in leadership and how it can lead to organizational change. The purpose of the article is to determine how emotional intelligence will improve the role of leaders in challenging situations. The idea is to discourage the toxic leadership culture because it undermines organizational sustainability. A leaders encounter many conflicting situations where he can lose self-control and temper, resulting in disorganization. The author has described organizational behavior by evaluating traditional attitudes of leaders at workplace. The behavior of leader has direct influence on employees motivation. A leader who is frustrated is more likely to exhibit his anger which can undermine self-respect of employees and discourage them from utilizing their full potential. The author has identified emotional intelligence as an essential attribute of leader’s personality. By changing leadership the firm can retain employees for a long duration that will benefit organization.

Emotional intelligence is important organizational behavior because it promote positive work attitude and is linked to improved relationship between the leader and employees. The focus of the article is on enhancing emotional intelligence by lowering aggression and controlling frustration in stressful situations (Johnson, 2016). The important aspects of organizational change are identified in the article that include leading change initiative. The author explains that the leaders must accept the responsibility of transforming their behaviors for improving their role in organizations. They would realize that by changing their attitude they could motivate employees for reaching full potential. Organizational change based on this idea of building emotional intelligence require a culture where group of change leaders is created. Passionate organizational vision is essential for promoting emotional intelligence among leaders. This principle suggests that the leaders must establish emotional connectivity with the goals that will encourage them to exhibit positive attitude. They will realize the need for examining their emotional intelligence and work to improve it. The organization plays significant role in building emotional intelligence such as by developing a reward system. The managers who manage stress and control frustration can be rewarded for encouraging them to continue such behaviors. This organizational change can also be attained by empowering everyone in the firm. This means that all people are provided support and awareness about raising emotional intelligence. Strategies can be taught such as cultural competency for handling conflicting situations. Celebrating positive results such as high productivity can promote other leaders also to build emotional intelligence. Organizations can integrate this strategy for hiring best people. The focus must be on choosing people that are capable of controlling stressful situations and have competency of controlling negative emotions.

Emotional intelligence is important organizational change because it is linked to the performance of employees. By teaching strategies of controlling stress and avoiding anger, the employees can give their best. This will also eliminate negative attitudes that could undermine productivity and organizational efficiency (Anuradha, 2016). These principles are important for organization who are operating in modern age because leaders are facing challenges in competitive markets. This concept is also important because it focuses on leader’s accountability.

The article has emphasized on some business concepts that I covered in the course such as leadership, organizational change, employees’ management and managing conflict. The article provides strategy of dealing with the people’s problem at organizations. Leadership states that they leader must possess appropriate personality traits that allow them to handle conflicting situations and complex problems. Emotional intelligence has positive influence in managing stress and helping employees to exhibit self-control that leads to enhanced performance.

Reference

Anuradha. (2016). Leadership for the new age. Human Capital, 19(11), 17-19. Retrieved from https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc t=true&db=bth&AN=114479691&site=ehost-live&scope=site

Johnson, P. (2016). Leadership, emotional intelligence & organizational change. Leadership Excellence Essentials, 33(2), 12. Retrieved from https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc t=true&db=bth&AN=112819555&site=ehost-live&scope=site

Subject: Business and Management

Pages: 2 Words: 600

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(Developing Your Professional Voice

(PLEASE REMEMBER TO INSERT YOUR OFFICIAL NAMES)

MEMO 1

TO: STEPHANIE SIMS, VICE PRESIDENT OF SALES AND MARKETING

FROM: REGIONAL SALES MANAGER

DATE: October 17, 2019

SUBJECT: REQUEST FOR APPROVAL AND FUNDS

I have 18 sales representatives who work under me. As you know, these representatives previously worked in personalized offices that aided in housing their administrative functions. However, this changed whereby the company closed all offices while on the verge of implementing a cost reduction initiative. All the administrative functions have now been moved to a central corporate office in Boston. Currently, the sales representatives work from home offices and this has made them responsible for their writing.

It is apparent that before work functions were centralized to Boston, the sales representatives would help each other in creating professional writings such as emails before sending them to clients. However, the representatives have now been forced to work independently which has shown some weaknesses especially when it comes to creating a professional piece of writing. The writing quality has significantly dropped down which illustrates that there is a need for action to improve.

Recently, I heard a presentation from Ken Wilson, a communication consultant who coaches sales representatives on writing skills. I arranged a meeting with the coach and illustrated some of the challenges that my representatives were facing. I was impressed with his critique and his suggestions on how their writing could be improved. The plan is to have a two-day workshop in which the sales representatives will be coached individually on how to create a professional e-mail and a voice call that will create more leads for the organization. Ken’s Company known as Write Right, will carry out a ninety-day follow-up to ensure that the staff members perfect their writing skills. Regional VPs in the country have also speculated that they are facing a similar issue hence they can be included in the workshop.

Several costs will be incurred during the pre and post-training evaluation of the sales representatives. An estimated $4, 000 will be spent on the two-day workshop and $2, 000 will be used in the follow up coaching. Other costs to be incurred include those of; travel, meeting room, hotel booking and for the meals consumed during the two-day event. All these costs will approximately amount to $ 6, 000. The total cost required is, therefore, $ 12, 000 and an extra amount for miscellaneous costs. Approaching VPs from other companies is one way of outsourcing these total costs.

Based on the rave reviews that have been provided about Write Right, I feel that this is the right company to train our sales representatives. Their writing skill needs to be perfected since it is one of the best means of approaching clients. I would like to request that you consider approving and funding this training as a pilot project that may be applied in other departments of the company. I can assure you that the consideration of this project will act as a return on investment. Kindly consider my request and expect exemplary results from my sales representatives after the training.

MEMO 2

TO: JOHN SUAREZ, INTERNSHIP SUPERVISOR

FROM: (FIRST NAME, SECOND NAME)

DATE: October 17, 2019

SUBJECT: IRRELEVANT USE OF TIME ON GAMES

It has come to my attention during the six months of my internship in the organization that most employees have been using work time on Google microgames. This memo is a reminder that workers should be productive during work hours to avoid the misuse of resources.

According to the attached article, it is shocking that the estimated number of employees who collectively play Pacman games while at work is tremendous. The companies whose employees engage in the activity, lose over $120 million which is a calculation based on average time used in the Google home page. If the estimates are applied in our offices that have 600 employees, the company experiences an approximate $700 weekly loss.

Time management in any company is a prerequisite that plays a huge role in obtaining better results. Even though Amato & Zimmerman is a highly regarded firm, there is a need to regulate the activities carried out by employees while on their devices. The firm has typical workflows and firm business processes that require extensive concentration and high workforce input. Amato & Zimmerman have an exemplary workplace culture but the management has not yet realized the numerous time spent on unproductive activities such as playing games and visiting social media sites. The latter may not only affect A&Z but it may affect individual professions due to low productivity. Playing games while at work is a common trend that ought to be shunned. It is interesting how the management is not able to recognize the amount of time lost by workers who opt to sneak into their devices and play an addictive game such as Pac-Man.

I suggest we address this issue by analyzing the amount of time and money lost in Amato & Zimmerman when workers opt to carry out unproductive activities. By collecting this information, the firm can view how games such as Pac-Man affect the productivity and profits of the company. As earlier mentioned, time management is of relevance, which should be inculcated into the firm’s system. The management should understand a better way of monitoring how workers spend their time during work hours. Before this, the employees should be assembled to get a glimpse of why the company wants to monitor their time while at work. The meeting should be open to obtain their views and also to note down any better suggestions on how work time should be managed.

It is eminent that no company wants to implement drudgery rules into its system. I encourage the adoption of fun activities occasionally at Amato & Zimmerman. However, the management should be in a position to ensure that employees do not use productive hours to indulge in games or other unnecessary activities. The company should reinforce time management tools and encourage employees to be productive during working hours. URL: https://blog.rescuetime.com/the-tragic-cost-of-google-pac-man-4-82-million-hours/

Subject: Business and Management

Pages: 4 Words: 1200

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SEE DESCRIPTION

Motivation and its Different Levels

[Name of the Writer]

[Name of the Institution]

Motivation and its Different Levels

Introduction

Every action and reaction has a purpose, a motive. Without that purpose, that action is useless and vain. Motivation refers to the will of performing an action. Motivation is the reason behind anyone’s action; it shows the willingness to achieve a specific goal. Motivation is derived from the word "motive" which refers to the need for satisfaction. Motivation defines an individual’s direction to behavior or the factors that will make that individual repeat that behavior. In short, motivation can be said to be the driving force behind anyone’s activities.

Motivation plays a significant role in any organization. It shapes the behavior of the employees working there which further makes the achievement of organizational goals much easier (Reeve, 2014, p., 34). A motivated employee can prove to be a much better and productive resource for the company as compared to an employee who is not motivated and dull.

Description

Levels of Motivation

Employee motivation can be a really challenging thing which requires excellent strategic planning and skill. It poses a great challenge for managers as every employee shows a different level of motivation. Not every employee gets motivated by the same thing; for one employee, money may be a very promising and shinning factor to start working and give their best, while for another employee, money may not be of that much importance, but something else would definitely work for him. There are various levels of motivation which define what factor will work the best for any employee. In this regard, Maslow’s need hierarchy paves an excellent way for better understanding.

Level 1: Incentives

The first and most basic level of motivation involves incentives and monetary benefits. It is a motivating factor for almost all the individuals no matter where they are working and what role they are performing (Lepper, 2015, p., 195). Nearly all of the employees are motivated by proper monetary benefits and compensation, and these can be used as the best strategies to encourage employees. This can also be the best strategy for the achievement of organizational goals.

Level 2: Safety and Security

An employee must feel secure and safe about his job. The management must make sure that job security is ensured in the minds of the employees. If this factor is made strong that the job of the employee is safe and secure and no one is going to kick them out of their jobs at any time, it gives a sense of satisfaction to the employee, and he or she can better concentrate on his or her job duties.

Level 3: Affiliation

The sense of belonging acts as a highly motivating factor for the employee. Although it is a tricky factor of motivation, still, very effective and efficient in arising motivation among the employees (Leary, 2017 p., 60). An employee feels more productive and gives out his best when he or she is made to feel like a part of the team, and he or she realizes that the team and organizations own him. It can also bring amazing changes in the behavior of the employee apart from the job responsibilities.

Level 4: Development

Development also plays a major role in boosting up the morale of the employee. No matter how much handsome salary he is getting from the organization, or how much secure his job is, if an employee feels that there are no opportunities for growth and development in his organization or at his role, he would gradually lose the charm in the job and ultimately leave the company (Nicholls, 2017, p., 229).

Level 5: Work-life Balance

It is one of the significant factors and much has been discussed and done on it by the experts of human resource management. As per the experts, if an employee does not get enough time to spend with his family, or for the activities that he loves, he will not find his job attractive, and will start thinking of quitting it, no matter how good he is being paid. So, for the purpose of retention of its employees, an organization should pay special attention to this factor that his employees are enjoying a proper work-life balance.

Role of Middle Manager In Motivating The Employees

A middle manager is the most important person in an organization, especially those organizations which have large and complex hierarchal structures. The middle manager acts as a bridge between the higher management and the immediate employee or the lower management. In his role, the middle manager conveys the concerns of the immediate employee or the labor to the higher management. In the same way, the instructions given for the line managers or the down employees travel down the line via the middle manager.

A manager, especially a middle manager, should always understand the tiresome nature of work and the stressful environment. A middle manager is expected to devise certain strategies to bring motivation to his employee (Pinder, 2015. p., 45). He should always try to take certain steps to keep the employees motivated both intrinsically and extrinsically.

As discussed earlier that not every strategy works of every employee, a manager needs to carefully design the motivational strategies which fit the needs of all the employees or at least cater the needs of the majority of employees. There are certain roles that a middle manager can play in order to bring motivation and keep the employees motivated. Some of them are listed below:

Combining Work goals with Employee Goals

Misunderstanding of goals and a wrong allotment of goals can lead to disasters and may contribute to taking the organization down. It is the middle manager's responsibility to clearly communicate the goals and responsibilities to the employees. He or she should clarify to the employees that what exactly are their responsibilities and what the company expects from them. For this purpose, there should be proper communication between the middle managers and the line managers and employees. This will greatly help the employees to better understand the goals and design their strategies as per those goals.

In addition to that, a middle manager should try that the organizational or departmental goals are aligned with the personal goals of the employee. If this aspect of employee motivation is ignored, it may create confusion, and the result would be chaos and frustration. The employee may not be able to understand what you expect from them and you as a middle manager, would not abide to clearly communicate the needs of the organization. As a result of this confusion, the outcomes would not be that much efficient and effective.

Understanding the motivational needs of every employee

A good middle manager understands each of his employees and tries to keep them satisfied to the maximum extent so that they can give out their best, for the achievements of their departmental and organizational goals. A good middle manager knows which strategy to be used at what time and what would be the best time to apply any technique for the best outcomes. It is in the knowledge of every middle manager that what motivates every employee working in his team and what are the turning off factors for every individual. For some employees, money and benefits are the biggest motivators, for other, praise is the biggest motivating factor, whereas, for some people, work-life balance works best. A middle manager needs to analyze each and every employee’s individual needs, motivating factors, work-life responsibilities, and underlying motivations. A personal meeting and employee analysis may work best in such cases. In this way, the manager may analyze an employee’s priorities and their work-related desires.

Creating a Fair System

A fair system is a big motivating factor and creates a fire in the employees to give out their best. When employees observe that every employee is being treated equally and there exists a fair and just system in the organization, they automatically become motivated to work hard and give maximum time and benefits to the company, as they know, in the back of their mind, that they will be rewarded for this hard work in the end, in complete justice and harmony.

Leading By Example

This is the best strategy that a manager can use to motivate his employees and team. The team will follow the example of its leader, which in the case of organizations, is the immediate manager. If the manager is lazy or prone to procrastination, the employees will follow his example and will not give much importance to work. But, on the other hand, if the manager is hard working, and active, even the laziest of employees will have to work hard, and the team will remain motivated.

Strategies for maintaining high level of Motivation

Motivation is a constant requirement of a human mind so that it can keep functioning. Motivation guarantees continuous growth and promotion. Good organizations constantly keep striving to plan and design such strategies which will keep their employees motivated, not only extrinsically but also intrinsically. There may be multiple struggles for achieving this purpose, like incentives and bonuses. As discussed, monetary benefits are a very important factor in motivating the employee to give out their best, so an organization should try to give out bonuses and incentives on a regular basis, so that the employees work happily with them. Another strategy may be leisure activities, like tours and in-house games. Another motivational approach adopted by the organizations is the commencement of lump sum leaves on an annual basis, so that the employee gets to spend t ample time with their family and friends.

References

Leary, M.R., and Baumeister, R.F., 2017. The need to belong: Desire for interpersonal attachments as a fundamental human motivation. In Interpersonal Development (pp. 57-89). Routledge.

Lepper, M.R. and Greene, D. eds., 2015. The hidden costs of reward: New perspectives on the psychology of human motivation. Psychology Press.

Nicholls, J.G., 2017. Conceptions of ability and achievement motivation: A theory and its implications for education. In Learning and motivation in the classroom (pp. 211-238). Routledge.

Pinder, C.C., 2014. Work motivation in organizational behavior. Psychology Press.

Reeve, J., 2014. Understanding motivation and emotion. John Wiley & Sons.

Subject: Business and Management

Pages: 5 Words: 1500

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Student’s Name

Instructor’s Name

Course Code

Date

Enterprise System

Q1: Enterprise system (ERP)

Enterprise System is a cross functional system, which provides companies with a wide coordination and integration of key business processes. It is essential in planning most resources of organization and therefore, it is used to improve efficient in business operations. The main problem associated with manual or paper based procurement process is the delay, which exist between different departments. In most cases, the paper work can be placed on the desk for days. The information or document can take days in mails when it should be electronically transferred either external or internal CITATION Mar18 \p 32 \l 1033 (Marr 32). ERP System reduces paper clutter, delays and also minimizes errors. It reduces error by ensuring that data can only be entered into the system only once and after that only reference could be made to the specific information. For example, the reference can be made to the vendor number and the shipping information keyed in the system.

Q2: Describe the business process of ordering a product from your favorite retailer via e-commerce

Ordering a product from an online retail is done through a vigorous process to ensure that the right product is received by the recipient. The first step is to access the website or the link to the retail platform. For instance, the purchasing a product from Newegg Company requires a customer to access the Newegg’s URL and have access to the website. For example the website for Newegg is https://www.newegg.com. The link will direct buyers to the Newegg’s retail platform where all the products sold by the company are listed. At the online platform a customer would be able to review and check all the products and make the right choice on which product to purchase CITATION Che19 \p 21 \l 1033 (Corner 21). However, once a customer decides to purchase a product, he or she is required to login or register on the website by putting personal information to the system. The process of registration is to make sure that only correct information is used and the address for delivery is made available.

The registration is done by clicking the registration tab on the website. After completing registration a customer can proceed to check out a product he or she has viewed and made decision to purchase. When checking out a product, the payment platform would appear, which require only payment method to be conformed and a customer can click next to proceed to the check out. Once the product has been checked out, the data of delivery will be conformed and a customer can print receipt and tracking number for tracking the delivery and any further questions. It is advisable to print the order details including the tracking number for verification of the order when received,

Recommendation

Customers want an enjoyable and flexible purchasing platform. Most customers who make online purchase require a friendly website and interactive. Therefore, the best technique which can be used to improve purchasing experience of customers is through providing intelligent assistant on the company’s website. The automatic intelligence assistance ensures that all customers’ queries are answered properly. It is recommended to have a user friendly website and interactive. The Website should have links to other related products to allow customer to view variety of products. The company should have variety of payment system on the website to remove any limitation which can occur as a result of having unreliable payment system for online trading.

Works Cited

BIBLIOGRAPHY Corner, Cherly. "The '8 Great' Challenges Every Business Faces (And How To Master Them All)." https://www.forbes.com/sites/cherylsnappconner/2013/03/04/the-8-great-challenges-every-business-faces-and-how-to-master-them-all/#34c981ab3891 (2019): 2-34.

Marr, Bernard. "biggest challenges businesses face today (and need consultants for." https://www.hiscox.co.uk/business-blog/the-10-biggest-challenges-businesses-face-today-and-need-consultants-for/ (2018): 2-15.

Subject: Business and Management

Pages: 2 Words: 600

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0

Award Acceptance speech

“I am very happy to stand before you this day. It’s such an honor to know that you are convinced that i am worthy the award. In the midst of many other individuals, you chose me to own this great award. I sincerely thank all the people who made me the great and successful person I am today. However what really matters to me is that I can be a great example to many people especially the youths. Renee Elise Goldsberry once highlighted that an individual’s job is not to attain an award but to illuminate other people on something that they should be aware of.

Allow me to provide you with an insight on my life. I was born and raised in a humble family. Nothing was special about me back then. It was during my learning that I developed an interest in business management. My parents’ always reminded me on what mattered in life. As I receive this special award, allow me to thank my parents for their endless support and wise words which enabled me to have a vision and to also work towards achieving the vision.

Attending school at the college at ABC college of business administration was like a dream come true. I was able to pursue a diploma in strategic management which equipped me with significant knowledge on solving strategic problems. My inspiration was the desire to become an outstanding strategic manager with the ability to make informed decisions, ensure growth and success of businesses and to also be an effective strategic leader. I got this inspiration from the course units and concepts which include monitoring, assessment, continuous planning and strategic decision making. Other concepts such as controlling, leading and organizing were important in framing me to the strategic leader I am today.

Therefore, as I receive this outstanding award on this day, I want to thank my instructors for their support and equipping me with this great knowledge to achieve my goals and making who I am today. The instructors were also a source of inspiration to me. I tried to figure out how they had made it to such higher job positions and success. I never knew whether I could stand in front of people and address them. Sometimes, I was very much disappointed by the fact that I found most of the work in the various departments challenging and making me doubt my leadership and management capabilities. My motivation was from my family and colleagues. I therefore call upon every person in this gathering to soul search and determine if we have an inspiration to achieve our goals in life.

For me, my vision was to become an outstanding strategic leader who is able to make strategic plans and decisions for the growth and success of the organization. My fellow people, do you a vision for the achievement of your goals? By working tirelessly in the various departments, I was able to gain a clear focus of where I want to be in my life and job position. I worked hard as I knew my life actually depended on it for the actualization of my dreams. As a strategic manager, I was able to exploit the resources at my disposal to achieve my mission and vision. To be honest, its only smart and hard work that can grant you what you need in this life.

Lastly, I never imagined that my life could get this better even after coming from a humble family. Attending this good college has granted me a good opportunity in life and thank God for all of you who have supported me thorough my journey. This award is such as honor and a lifetime memory. Believe in yourself, have a vision and work hard to attain you ultimate prize. The sky is the limit. I am honored to accept the award as the best business person of the year. Thank you very much”.

Subject: Business and Management

Pages: 2 Words: 600

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10279 Assignment 1 Of 3 - Business Model Canvas Application Task

Business Model Canvas Application Task

Your Name

Institution

Contents

TOC \o "1-3" \h \z \u Summary PAGEREF _Toc12114489 \h 3

What is Business Model Canvas PAGEREF _Toc12114490 \h 3

Netflix PAGEREF _Toc12114491 \h 3

Business Model PAGEREF _Toc12114492 \h 4

Customer Segment PAGEREF _Toc12114493 \h 4

Value Proposition PAGEREF _Toc12114494 \h 4

Customer Relationships PAGEREF _Toc12114495 \h 4

Channel PAGEREF _Toc12114496 \h 5

Revenue PAGEREF _Toc12114497 \h 5

Key activities PAGEREF _Toc12114498 \h 5

Key resources PAGEREF _Toc12114499 \h 5

Cost structure PAGEREF _Toc12114500 \h 6

Key Partners PAGEREF _Toc12114501 \h 6

Netflix Business Model Canvas PAGEREF _Toc12114502 \h 7

Conclusion PAGEREF _Toc12114503 \h 10

Summary

Business Model Canvas (BMC) is a visualization tool which represents value proposition, customer, offer, and infrastructure. This model helps in aligning the activities of a company. Netflix is selected for this case study and model canvas of Netflix is designed. The main purpose of this assignment is to understand the categories of Business Model Canvas and how they are important for a firm. Furthermore, we will conduct an analysis of the company (Netflix) according to the standards of the Business Model Canvas. And at the end, we will find links between the categories of BMC and conclude how this company has become so renowned.

What is Business Model Canvas

Business Model Canvas is a straight forward tool to understand the business model and its structure. This model gives insights about customers which are served by the company, what value proportions are offered through what channels, and how the company is generating revenue. This model can also be used to annalize the competitor’s model CITATION Joy16 \l 1033 (Joyce, 2016). This model gives a clear picture of how customer needs are met by the company.

This business case model is suitable for the analysis of the existing business model and also for designing a new idea. BMC has many advantages some of them are given below.

Essential Overview

BMC gives you an overview of what business model stands for. Not only does it sharpen your view of your business essentials, but it also prioritizes activities based on their importance while improving your business model CITATION And14 \l 1033 (Andreas Zolnowski, 2014).

Brainstorming

BMC gives you complete freedom to go wild with your thought process. It allows you to look up alternative models while exploring a new combination of possibilities CITATION Joy16 \l 1033 (Joyce, 2016).

Structured Presentation

BMC gives structure to your business idea. It can not only help you with understanding your business but also discuss your business model in detail CITATION And14 \l 1033 (Andreas Zolnowski, 2014). Additionally, it explores your business idea in such a manner that different departments can get the exact information that they need.

Dependencies and Conflicts

BMC enables startups to present their business idea while aiding the corporation with new projects. It shows what major concerns need to be catered to regarding the objectives of the conflicts CITATION And14 \l 1033 (Andreas Zolnowski, 2014).

Base

While BMC cannot replace a detailed and well-designed business plan, it can add structure to a business plan using the business model CITATION And14 \l 1033 (Andreas Zolnowski, 2014).

Netflix

Netflix is the largest online platform for streaming movies and TV shows. Initially, they offered Rental DVD services through the mail. Their competitors are YouTube, Flexplay, and blockbuster. The company was started in 1997 and became public in 2002 CITATION McC11 \l 1033 (McCord, 2011). Shortly after becoming public, they registered one million subscribers and generated USD 1,300 million in 2008 CITATION Pfe09 \l 1033 (Pfeifer, 2009). Company is working on internet-based subscription Model with no due date, late fees fine, no membership requirements, and ability to cancel services at any time. In addition to all above, the company provides 24-hours online and telephone support.

From Rental DVD services to becoming one of the biggest names in entertainment providing and producing, Netflix’s business model plays an important role. In its business model, we will discuss each factor in details and will start from the customer and end at revue generated.

Business Model

Netflix’s business model canvas can be divided into two parts left and side and the right-hand side. Right-hand side includes customer segment, value proposition, customer relationship, channel, and Revenue CITATION Hen10 \l 1033 (HenryChesbrough, 2010). And the left-hand side of the canvas includes key activities, key resources, and cost structure. Below we will discuss each of these categories and how they are related to each other.

Customer Segment

Any customer who has a mobile phone, laptop, gaming console, or tablet with a good internet connection is a potential customer for Netflix

Value Proposition

Netflix provides high value on demand at any place and time. A person can be at home, at work, in the metro, or in airplane have access to a huge selection of high-quality content. Netflix is spending a lot of money to get original content for its customers.

Customer Relationships

Netflix provides basic customer relationship. Normally the customer never has to interact with any person in the company. From registration to the unsubscribing everything is plain and simple in Netflix’s business model. Netflix provides a trial period of one month to gain customer interest. For its regular customers, Netflix suggests content on basis of his history of customer’s steaming.

Channel

Netflix's biggest promotion is its Public Relation and Word of Mouth. This means that it has a huge reputation. Associated partners are also promoting the company by offering discount packages of their service which are related to Netflix. The biggest example of this are cellphone companies, they provide no limit on their data usage (in attractive prices) for Netflix streaming. In addition, Netflix's website and apps come in this section of their business model.

Revenue

Basically, Netflix earns money from its subscription from all over the world. Netflix is also producing its own content to support its business model.

Key activities

The key activity is related to the value proposition, as Netflix has optimized its system to select high-quality content. Another major key activity is to get a license of showing content from different organizations CITATION Hen10 \l 1033 (HenryChesbrough, 2010).

Key resources

It includes the main resources that the company uses to deliver the content which is discussed in previous sections. Key resources also include license agreement between Netflix and major TV and filming company such as Sony and Disney CITATION Hen10 \l 1033 (HenryChesbrough, 2010).

Cost structure

It includes the cost of creating a platform and content creation. A huge amount of money is spent to design and upgrade platform which provides a seamless experience to the customers without any lags or glitches. In addition, Netflix has become a strong franchise which creates quality video content. This production of content costs a lot.

Key Partners

Key partners of Netflix are reflected in channel section of this business model. Their key partners are Smartphones /Smart TVs/ TV box Manufactures, Internet Providers, Mobile Network companies, Application stores, and government.

Netflix Business Model Canvas

Key Partners

Key Activities

Value Proposition

Customer Relationship

Customer Segments

Brands

Product installation and placement partner

Marketing

123456789

Title page

Odoo’s ERP

ERP system

Odoo’s ERP provides the best choice for ShoeShoe because it emphasizes on integrated functionality to reducing unnecessary works and to allowing the company to purely focusing on their growth. ShoeShoe is an online retail business which provides High-end products and limited-edition footwear worldwide. Enterprise Resource Planning is offered management software to the company including integrated applications that assist in managing the business and automotive functions. Although there are many ERP systems Odoo is most suitable for the company. Odoo provides open source ERP and CPM software developed on the plethora of powerful open object platform. Because the system offers a collaborative development approach it allows configuration of suitable modules.

ShoeShoe will adopt Odoo’s ERP system for improving its business performance. key features offered by Odoo include; CRM, accounting, sales management, warehouse management, project management, purchase management and point of sales. The selected Enterprise Resource Planning offer a broader range of features including management of day-to-day activities such as project management, accounting and procurement CITATION Ign16 \l 1033 (Madanhire & Mbohwa, 2016). The system is appropriate for defining the business process as it enables the flow of data. Odoo makes data sharing more convenient through multiple sources. data duplication is eliminated with the maintenance of high-level integrity.

Incorporation of Odoo’s ERP will allow ShoeShoe to manage CRM activities such as identification, prioritization and case resolution. Management of diverse information such as the nationality of customer or language preference is part of Odoo’s system. Maintaining customer database will improve business performance and efficiency of operations. Sales management is another feature of Odoo's ERP system that allows the company to classify sales orders. This will assist ShowShoe in creating a clear hierarchical system that leads to efficiency in sales operations. The process of sale and purchase is cost-effective because confirmation of order results in the automatic delivery of invoicing CITATION Mah17 \l 1033 (Ali, 2017). Accounting is also offered by Odoo that will increase integrity in operations. cost accounting practices that are part of ERP include the creation of general ledger with details of account receivables, budgets, tax management, automatic invoicing and assets management. The financial indicators provide information about the firm's stability and performance. The company will compare its monthly performance for identifying challenges and risks. Easy access to financial information will improve the company's capacity for taking timely actions such as expansion or contraction of the business model.

The feature of purchase management will allow ShoeShoe to track the supplier's activity. the company will track quotations that are converted to purchase orders. This is a practical tool for improving efficiency in operations CITATION Yuj16 \l 1033 (Hwang & Grant, 2016). Invoice monitoring and tracking receipts are also part of Odoo's ERP. This will assist ShoeShoe to achieve 10,000 customers generating $2,000,000 dollars in profit quarterly and be ranked as top high-end sneakers online shop. This also prevents suppliers from engaging in wrongful practice such as frauds. Odoo also offers management of Point-of-Sales (POS) operations. the software record details of sales operations, inventory, invoices and cash registry. This ensures that the company has access to complete information.

Warehouse management is a useful feature of Odoo's ERP that will allow ShoeShoe to manage multiple warehouses. The company will have easy access to structured stock locations. This prevents products from getting obsolete as the company will hold the required stocks. It will assist the company in matching stocks with customer demands. ERP also provides information about inbound and outbound activities.

The overall assessment of Odoo’s ERP indicates that it is an effective choice for ShoeShoe because it ensures improved reporting and planning. Complete customization and efficiency of operations are ensured by this software.

References

BIBLIOGRAPHY Ali, M. (2017). ERP system implementation in large enterprises – a systematic literature review . Journal of Enterprise Information Management , 30 (4).

Hwang, Y., & Grant, D. (2016). An empirical study of enterprise resource planning integration: global and local perspectives. Information Development, 32 (3).

Madanhire, I., & Mbohwa, C. (2016). Enterprise Resource Planning (ERP) in Improving Operational Efficiency: Case Study. Procedia CIRP, 40, 225-229.

Subject: Business and Management

Pages: 2 Words: 600

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2 Significant Sentences

Significant Sentence

Student’s Name

Institution

Date

Significant Sentence

The significant sentence in the chapter is “the functional groups in the operation management must periodically work together to plan their actions.” The operation management provides the effective and efficient way of management of various processes in the organization. This includes designing, sourcing of raw materials, production and delivery of products to the market. It means that the operation management is a key activity to services delivery to customers and therefore, the functional group in the operation management working together ensures that the demand in the market is meeting, clients are satisfied and the fit between the customers and value preposition and capabilities are maintained.

However, the functional groups of operation management are logistic, production, suppliers, designers of the products, and delivery. Therefore, there must a good relationship among these groups for an organization to deliver its core mandate to customers CITATION Kam16 \l 1033 (Kamisnky, Edith, & David, 2016). The operations management provides critical means to ensuring that there is a good relationship among these key groups. First, it ensures that it keeps the supply chain constant and also provide constant link between the suppliers and the customers. This ensures that the company get products to the market without any delay hence help in customer satisfactory hence market growth CITATION Kam16 \l 1033 (Kamisnky, Edith, & David, 2016).

Therefore, the sentence “ the functional groups in the operation management must be periodically work together to plan for their action” is significant because the groups are essential for economic growth of a company, clients and market satisfactory and by working together it means that the core goals of the organization would be met. It is also provides an overview on how to management key aspects of an organization to success. It is also important to point that most of the subtopics are within the chapter are related to operation management, which includes functional groups and therefore, it is a significant sentence in the chapter.

References

BIBLIOGRAPHY Kamisnky, P., Edith, S.-L., & David, S.-L. (2016). Introduction to Management Operation Across the Supply Chain. New York: Pearson Publishers.

Subject: Business and Management

Pages: 1 Words: 300

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2007-2008 Financial Collapse In The United States

2007-2008 Financial Collapse in the United States

Your Name (First M. Last)

Date

2007-2008 Financial Collapse in the United States

Introduction

Many incidents in the history of the United States of America can be recognized as a tragic event. Proper consideration of these events is helpful to measure the negative impact of these incidents on the society as the whole. It is worthy to mention that the financial crisis in the United States during the period of 2007-2008 is one significant event that changed the lives of the citizens in a great manner. The impact of this particular event is immensely massive as it is recognized as the one global financial crisis. The early symptoms of distress financial started from the point when interest rates started rising, and the domain of the homeownership start to become problematic. Here the particular focus is to critically explore different dimensions of the tragic event of 2007-2008 financial collapse referring to the main idea of the ethical concerns.

Discussion

The financial crisis of 2007-2008 characterized as the one most dangerous economic crisis in the history of the country after the great depression. This specific problem started with the immensely high prices of home prices in the country that ultimately influence the overall domain of the financial sector of the country. The financial crisis of housing market causes different forms of damages for the entire global economy. The role of the mortgage dealers was crucial in the whole scenario who issues an immense form of mortgages with the terms which ultimately never favored the domain of borrowers at a vast level. It is also crucial to identify and critically explain the different ethical concerns associated with the event of the financial crisis of 2007-2008.

Comprehensive consideration of the ethical domain referring to the financial crisis is essential to evaluate the actions of the individuals. Ethical domains of the business organization can observe through the assessment of the specific code of conduct. The overall system of the ethical code of conduct helps to assess and evaluate the ethical actions consider by the organization ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"PnoXud1g","properties":{"formattedCitation":"(Archer, 2008)","plainCitation":"(Archer, 2008)","noteIndex":0},"citationItems":[{"id":561,"uris":["http://zotero.org/users/local/7Hi3kAOD/items/FTMF7BAC"],"uri":["http://zotero.org/users/local/7Hi3kAOD/items/FTMF7BAC"],"itemData":{"id":561,"type":"webpage","title":"Ensuring an Ethical Organization","container-title":"CMA Management","author":[{"family":"Archer","given":"Doug"}],"issued":{"date-parts":[["2008"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Archer, 2008). This specific phenomenon is also essential to determine in case of a tragic event of a financial crisis of 2007-2008. It helps to determine the specific actions of the people and organizations that directly or indirectly become the reason of the issue of the financial crisis. Deep analysis of the whole event of the financial crisis indicates that adoption of the unethical human behavior is one major reason for the financial calamity for the country. Organizations in both forms of public and private fail to implement the significant idea of a code of conduct with its true prospect.

The self-interest of the lending institutions referring to the shareholders’ equity identify as the main reason for the ethical concern involves in the entire scenario of the financial crunch that hit the entire economy. Fraud, lying, and management practices are the main aspects associated with the tragic paradigm of the financial issue of 2007-2008 ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"3WkpTIEz","properties":{"formattedCitation":"(Flynn, 2012)","plainCitation":"(Flynn, 2012)","noteIndex":0},"citationItems":[{"id":558,"uris":["http://zotero.org/users/local/7Hi3kAOD/items/ETL8IDEP"],"uri":["http://zotero.org/users/local/7Hi3kAOD/items/ETL8IDEP"],"itemData":{"id":558,"type":"webpage","title":"Ethics Matter","container-title":"The Montreal Review","URL":"http://www.themontrealreview.com/2009/Ethical-Lessons-of-the-Financial-Crisis.php","author":[{"family":"Flynn","given":"Eileen"}],"issued":{"date-parts":[["2012"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Flynn, 2012). The drastic impact of the financial crisis can observe in different dimensions such as the prospects of unemployment, gross domestic product (GDP), and the feature of the mortgage crisis. These two domains strongly hit the economic and social structure of the country. Ethical failure in many forms influence the economic structure of the country ultimately turns as the financial crisis. It is observed that brokers never consider the approach of the borrowers concerning the idea of thoughtful transactions ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"3y1EkbVA","properties":{"formattedCitation":"(Schoen, 2017)","plainCitation":"(Schoen, 2017)","noteIndex":0},"citationItems":[{"id":560,"uris":["http://zotero.org/users/local/7Hi3kAOD/items/9STI7UEP"],"uri":["http://zotero.org/users/local/7Hi3kAOD/items/9STI7UEP"],"itemData":{"id":560,"type":"article-journal","title":"The 2007–2009 financial crisis: An erosion of ethics: A case study","container-title":"Journal of Business Ethics","page":"805-830","volume":"146","issue":"4","author":[{"family":"Schoen","given":"Edward J."}],"issued":{"date-parts":[["2017"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Schoen, 2017). Formulation of the specific practical approach in the form of Troubles Asset Relief Program (TARP) is one major action referred to effectively deal with the issue of the financial crisis. This particular program provides assistance to recapitalize the domain of the financial sector. Upgradation of the financial mechanism is one main aspect that is proposed to deal with the tragic consequences of the financial issue of 2007-2008.

Proper implementation of the recommended strategies to address the financial issue is one key paradigm to deal with the tragic scenario effectively. Economic institutions faced different forms of pressure when it comes to the establishment of the proposed strategies. The major reason for the entire financial collapse is that the Institute of FED ignores the warning signs. The idea of subprime mortgage never identifies as enough solution to deal with the chronic issue of the financial crisis of 2007-2008. It is viable to critically differentiate between the aspects of social responsibility, integrity, and simple form of business ethics. Identification of all these features ultimately helps to analyze the financial crisis of 2007-2008 on ethical grounds. The idea of social responsibility comprises on the domain adopted by the business organization to consider the approach of the entire environment ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"eNzJSc0v","properties":{"formattedCitation":"(O\\uc0\\u8217{} Brien, 2013)","plainCitation":"(O’ Brien, 2013)","noteIndex":0},"citationItems":[{"id":559,"uris":["http://zotero.org/users/local/7Hi3kAOD/items/G7CNMWA2"],"uri":["http://zotero.org/users/local/7Hi3kAOD/items/G7CNMWA2"],"itemData":{"id":559,"type":"webpage","title":"Lessons Learned from the Financial Crisis","container-title":"Business Ethics","URL":"http://business-ethics.com/2013/09/16/1202-lessons-learned-from-the-financial-crisis/","author":[{"family":"O' Brien","given":"Gael"}],"issued":{"date-parts":[["2013"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (O’ Brien, 2013). Integrity is another major feature that helps individuals to adopt ethical behavior in their business dealing. The perspective of business ethics helps to identify the principles and moral considerations of the business. All the domains are closely linked with the tragic event of a financial crisis of 2007-2998. All the features reflect the importance of the ethical practices.

Conclusion

Lastly, it is significant to explore the impact of the financial crisis 2007-2008 on the entire ethical culture of the country. Arousal of this financial issue identify the domains of the fraud and the approach of the unethical behavior adopted by people and financial institutes at different levels. It is one alarming time for the economic sector of the country to revisit the adopted domain of corporate ethics with the objective of profit maximization.

References

ADDIN ZOTERO_BIBL {"uncited":[],"omitted":[],"custom":[]} CSL_BIBLIOGRAPHY Archer, D. (2008). Ensuring an Ethical Organization.

Flynn, E. (2012). Ethics Matter. Retrieved from http://www.themontrealreview.com/2009/Ethical-Lessons-of-the-Financial-Crisis.php

O’ Brien, G. (2013). Lessons Learned from the Financial Crisis. Retrieved from http://business-ethics.com/2013/09/16/1202-lessons-learned-from-the-financial-crisis/

Schoen, E. J. (2017). The 2007–2009 financial crisis: An erosion of ethics: A case study. Journal of Business Ethics, 146(4), 805–830.

Subject: Business and Management

Pages: 3 Words: 900

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345 Fundamentals Of Decision Making Pa1

Decision Making

[Author Name(s), First M. Last, Omit Titles and Degrees]

[Institutional Affiliation(s)]

Decision Making

The process of making choices, gathering information and analyzing the alternatives, and reaching an outcome is termed as the decision making process. Being a process, decision making involves various steps that allow the decision-maker to make more thoughtful and deliberate decisions. Decisions range from simple to complex decision, each involves certain processes to be followed and certain considerations to be made such as avoiding biases. Organizational decision making and negotiation are multifaceted and it is a non-linear method since it considers the element of bounded rationality. Decision-making process involves hierarchical steps needed to reach a thoughtful conclusion that can be enhanced by the way of system thinking alongside eradicating the biases in judgment that likewise influences a decision.

Decision making can be declared as the outcome of a mental exercise wherein one course of action is selected from several alternatives. The end of each process is a final choice made by the decision-maker. Generally, the decision-making process is regarded as a problem-solving process consists of seven steps. The first step in the process is always about identifying the need for decision making. The next step is to gather all the pertinent information considering the best sources of information available. After gathering relevant information, alternatives are evaluated and prioritized by assigning weights to each alternative. The best alternative is selected based on the weighs assigned or a combination of two or more alternatives is selected. After the implementation of the selected alternative, the outcomes are evaluated. The decision can be revised if the outcome does not satisfy the need. This process is generally supported by many authors and some have decomposed it into the variants of four, five and eight steps as well. Saaty (2008) formerly established the idea that in order to make organized decisions, the same hierarchical process has to be followed. This process is termed as Analytic Hierarchy Process (AHP) of decision making and it has been used in practice in many settings ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"lS7VznGW","properties":{"unsorted":true,"formattedCitation":"(Saaty, 2008)","plainCitation":"(Saaty, 2008)","noteIndex":0},"citationItems":[{"id":1017,"uris":["http://zotero.org/users/local/orkqtrjP/items/LYJA3XZ6"],"uri":["http://zotero.org/users/local/orkqtrjP/items/LYJA3XZ6"],"itemData":{"id":1017,"type":"article-journal","title":"Decision making with the analytic hierarchy process","container-title":"International journal of services sciences","page":"83-98","volume":"1","issue":"1","author":[{"family":"Saaty","given":"Thomas L."}],"issued":{"date-parts":[["2008"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Saaty, 2008).

A relatively new approach to decision making is system thinking that is grounded on system theory ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"ChIAhHnq","properties":{"formattedCitation":"(Daellenbach, McNickle, & Dye, 2012)","plainCitation":"(Daellenbach, McNickle, & Dye, 2012)","noteIndex":0},"citationItems":[{"id":1019,"uris":["http://zotero.org/users/local/orkqtrjP/items/IBHS69HE"],"uri":["http://zotero.org/users/local/orkqtrjP/items/IBHS69HE"],"itemData":{"id":1019,"type":"book","title":"Management science: decision-making through systems thinking","publisher":"Macmillan International Higher Education","ISBN":"1-137-07512-0","author":[{"family":"Daellenbach","given":"Hans"},{"family":"McNickle","given":"Donald"},{"family":"Dye","given":"Shane"}],"issued":{"date-parts":[["2012"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Daellenbach, McNickle, & Dye, 2012). It is a way to view systems from a far-reaching perspective that not relies merely on the specific events in a system. Thinking systematically ensures that a strategic goal/s is attained and a complex problem is solved. An example would be solving a tragedy of the commons problem. Complex problems include a number of participants with a huge number of inter/dependencies in often non-homogenous context. It is not easy to solve such as challenge using a linear ("brute force") way of trial/error while making an effort to deal with one issue at a time, which brings some small efficiency. It is like approaching a challenge armed with Big data (i.e. systematically) vs. simple plain data (non-systematically). In business, systems thinking drives sustainability, social responsibility, efficiency, and continuous improvement. I would say it's rather common among good software developers because of all the interdependencies and interconnectivity of software systems. An entrepreneur with an ability to code software is more likely to apply systems thinking in business.

Systems thinking had been around for very long in several forms. In dealing with any nonlinear processes, the techniques of systems thinkers should be a good framework. That is especially true when dealing with systems where one can observe casual relationships, but might not be able to parse reaction or resilience of the system; in such a case simulation can sort out a lot without deep mathematic knowledge ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"sY7PZMGp","properties":{"formattedCitation":"(Maani & Maharaj, 2004)","plainCitation":"(Maani & Maharaj, 2004)","noteIndex":0},"citationItems":[{"id":1018,"uris":["http://zotero.org/users/local/orkqtrjP/items/LUD6NRIA"],"uri":["http://zotero.org/users/local/orkqtrjP/items/LUD6NRIA"],"itemData":{"id":1018,"type":"article-journal","title":"Links between systems thinking and complex decision making","container-title":"System Dynamics Review: The Journal of the System Dynamics Society","page":"21-48","volume":"20","issue":"1","author":[{"family":"Maani","given":"Kambiz E."},{"family":"Maharaj","given":"Vandana"}],"issued":{"date-parts":[["2004"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Maani & Maharaj, 2004). An example to consider for the application of system thinking is that the systems approach helped Schumacher understand and elucidate that burning fossil fuels is not really a matter of economic growth, but rather simply using up non-renewable natural resources.

Decision making ca never be free of any biases and heuristic errors and the common biases in decision-making are confirmation bias, selection bias, availability bias and other cognitive biases ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"6tc2TKxr","properties":{"formattedCitation":"(Blumenthal-Barby, 2016)","plainCitation":"(Blumenthal-Barby, 2016)","noteIndex":0},"citationItems":[{"id":1020,"uris":["http://zotero.org/users/local/orkqtrjP/items/3IJYE6DP"],"uri":["http://zotero.org/users/local/orkqtrjP/items/3IJYE6DP"],"itemData":{"id":1020,"type":"article-journal","title":"Biases and heuristics in decision making and their impact on autonomy","container-title":"The American Journal of Bioethics","page":"5-15","volume":"16","issue":"5","author":[{"family":"Blumenthal-Barby","given":"J. S."}],"issued":{"date-parts":[["2016"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Blumenthal-Barby, 2016). Heuristics are employed for the sake of problem-solving, that can be regarded as a short-cut used by the human brain that does not want to come up with a new solution in case of every new issue. While Cognitive Biases can be denoted as the logical fallacies which are an outcome of heuristics. They are also considered as alarming because they systematize erroneous decisions. One example of confirmation bias happened in the course of the presidential election of 2016 in the United States. In availability, bias decision is taken based on accessible information. Biases are also the result of the human limitation in making precise decisions, denoted by an Economist Simon as bounded rationality ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"IlR7bJvd","properties":{"formattedCitation":"(Lunenburg, 2010)","plainCitation":"(Lunenburg, 2010)","noteIndex":0},"citationItems":[{"id":1021,"uris":["http://zotero.org/users/local/orkqtrjP/items/ZXBXG2DB"],"uri":["http://zotero.org/users/local/orkqtrjP/items/ZXBXG2DB"],"itemData":{"id":1021,"type":"paper-conference","title":"THE DECISION MAKING PROCESS.","container-title":"National Forum of Educational Administration & Supervision Journal","volume":"27","ISBN":"0888-8132","author":[{"family":"Lunenburg","given":"Fred C."}],"issued":{"date-parts":[["2010"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Lunenburg, 2010). It is therefore essential that human decision making must be grounded on systematic methodologies. Bounded rationality stresses the decision-making process that is affected by the cognitive and political realities. Bounded rationality not only impacts the quality of an outcome in decision making but in case of negotiations it can result in the parties losing interests ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"IlR7bJvd","properties":{"formattedCitation":"(Lunenburg, 2010)","plainCitation":"(Lunenburg, 2010)","noteIndex":0},"citationItems":[{"id":1021,"uris":["http://zotero.org/users/local/orkqtrjP/items/ZXBXG2DB"],"uri":["http://zotero.org/users/local/orkqtrjP/items/ZXBXG2DB"],"itemData":{"id":1021,"type":"paper-conference","title":"THE DECISION MAKING PROCESS.","container-title":"National Forum of Educational Administration & Supervision Journal","volume":"27","ISBN":"0888-8132","author":[{"family":"Lunenburg","given":"Fred C."}],"issued":{"date-parts":[["2010"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Lunenburg, 2010). It also impacts communication and can lead to conflicts.

To sum up the discussion, decision making is imperative for any organizations and every strategy and action is based on a systematic decision-making process. The optimal outcome is limited by the factors of bounded rationality, biases and heuristic errors. Hence, systematic thinking must be adopted to eliminate organizational problems. The principle of rational thinking and strategical planning employed along with the implementation of models and theories can result in effective decisions. In addition, appropriate detection of the issue paves means for the correct solution for that issue in an enterprise.

References

ADDIN ZOTERO_BIBL {"uncited":[],"omitted":[],"custom":[]} CSL_BIBLIOGRAPHY Blumenthal-Barby, J. S. (2016). Biases and heuristics in decision making and their impact on autonomy. The American Journal of Bioethics, 16(5), 5–15.

Daellenbach, H., McNickle, D., & Dye, S. (2012). Management science: Decision-making through systems thinking. Macmillan International Higher Education.

Lunenburg, F. C. (2010). THE DECISION MAKING PROCESS. National Forum of Educational Administration & Supervision Journal, 27.

Maani, K. E., & Maharaj, V. (2004). Links between systems thinking and complex decision making. System Dynamics Review: The Journal of the System Dynamics Society, 20(1), 21–48.

Saaty, T. L. (2008). Decision making with the analytic hierarchy process. International Journal of Services Sciences, 1(1), 83–98.

Subject: Business and Management

Pages: 3 Words: 900

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