Sunday, December 29, 2019

Essay about Fair and Equitable Compensation - 1766 Words

In exchange for job performance and commitment, an employer offers rewards to employees. Adequate rewards and compensations potentially attract a quality work force, maintain the satisfaction of existing employees, keep quality employees from leaving, and motivate them in the workplace. According to research conducted by the Corporate Executive Board, the most important workplace attribute is compensation, (The Increasing Call for Work-Life Balance, 2009). Not only must wages be set high enough to motivate and attract good talent, they must also be equitable—that is, the wage must accurately reflect the value of the labor performed. Fair and equitable compensation is a crucial factor in the success of an organization. It is important†¦show more content†¦For job-based compensation, human resources must conduct a systematic job analysis. Each job must be carefully examined to list the necessary tasks and actions, identify skills and abilities required, and establish de sirable behaviors for successful completion of the job (Dessler, 2011). The traditional method of compensation is a base pay system. This base pay system is the one that most people are familiar with. A base pay system involves set pay levels (wage or salary) with regular increases. Increases can be given for a variety of reasons, but are typically given for promotions, merit increases, or cost of living increases. The Hay Group points out that there is less distinction today between merit increases and cost of living increases: Because of the low levels (3 to 4 percent) of salary budget funding, most merit raises are perceived as little more than cost of living increases. Employees have come to expect them (HayGroup, 2012). Determining base pay is directly linked to the organization’s compensation philosophy. Having a clear understanding of what role the position plays in the organization, including the complexity of the required responsibilities and tasks, is factored into the equation along with market data. Organizations that take the time to ensure they have factored in all of the following components will be more effective in managing their competitiveness externally as well as their consistency andShow MoreRelatedFair and Equitable Compensation Essay969 Words   |  4 PagesFair and Equitable Compensation MGMT 365 04/01/2012 MGMT 365 04/01/2012 Fair and Equitable Compensation Compensation is an important factor in the business world; both for employees and employers. Employees are trying to get what they feel they are worth. On the other side employers are trying to get quality workers at the best price they can; this is so they can increase their bottom line. Depending on which side you are on, the views of what is fair and equitable varies. The key is toRead MoreHuman Resource Practices With Business Goals1363 Words   |  6 Pagesbusiness goals with employee motives, a well-rounded compensation plan precedes attainment of these business goals(Martocchio 3). As can be seen by this statement, compensation is a major concern for all players in the business world today. As a matter of fact, if a company fails to properly manage their compensation package they will find themselves being left behind by the competition. In particular, what exactly does being left behind in compensation and benefits mean? It stands that other companiesRead MoreThe Determinan ts Of Employee Performance Essay877 Words   |  4 Pages(Hawaini, Gabriel and Viallet 2007). Employee Compensation is the same thing as employee reward. While employee reward is about how people are rewarded in accordance with their value to the organization, employee compensation according to Rynes, S. L., Gerhart, B., Minette, K. A., (2004). consist of pay and other economic and intangible benefits provided to the employees of an organization in return for the services rendered by them. Thus, compensation is the reward given to employees for utilizingRead MoreThe Business Of Amateur Sports1158 Words   |  5 Pagesmakes is that students are stakeholders in the college revenue success and should benefit. Marx claims if students were paid to play sports, The injustices of fake amateurism would be gone† (Rottenberg). Marx seems to believe that students deserve compensation beyond receiving an education and other stipends. Marx’s article is directed at college football and is narrow in stating his views. By exploring beyond a few sports, or select sports programs, his notion of paying students to play for collegeRead MoreLiterature Review : Employee Retention1187 Words   |  5 Pagesstrategies implemented to create more positive organizational climates for the purpose of retaining valuable employees include equitable remuneration that reflects performance, sufficiently challenging and interesting work, as well as opportunities for training and career dev elopment. There are seven main factors that can enhance employee retention. These factors are compensation and appreciation of the performed work, provision of challenging work, chances to be promoted a pleasant atmosphere withinRead MoreBenefits And Benefits Of Employee Benefits Essay1422 Words   |  6 PagesDoyle offers this, â€Å"Employee benefits are non-salary compensation that can vary from company to company. Benefits are indirect and non-cash payments within a compensation package. They are provided by organizations in addition to salary to create a competitive package for the potential employee.† (Doyle, 2016, para. 3). Essentially, this can be taken to mean that employee benefits may be in the form of monetary compensation or still compensation, but without monetary payment to the employee. ExamplesRead MoreJob Satisfaction in Criminal Justice1251 Words   |  5 Pageslong work hours, and lack of public and managerial support. Purpose of the Study: Research shows that the issues surrounding job satisfaction amongst law enforcement personnel establish a causal connection between resources, management style, compensation, and support. This is a complex issue for several reasons: limited funding from governmental agencies, unwillingness for some law enforcement personnel to answer questions that they perceive may prejudice management against them, and the inabilityRead MoreEquity Theory1421 Words   |  6 Pagesperceptions of fair/unfair distributions of resources within interpersonal relationships. Equity theory is considered as one of the justice theories; it was first developed in 1962 by John Stacey Adams, a workplace and behavioral psychologist, who asserted that employees seek to maintain equity between the inputs that they bring to a job and the outcomes that they receive from it against the perceived inputs and outcomes of others (Adams, 1965). The belief is that people value fair treatment whichRead MoreThe New York Hotel And Motel Trades Council Essay1003 Words   |  5 Pagesand other related businesses represented under contract to this union. Employees who have a membership with this union enjoys new and fair representation under a very diverse organizational culture. The association provides incredible union contract for hotel workers in the environment guaranteeing excellent wages, benefits, working conditions, and standard of fair treatment. The pay policy gives employees entitlement to substantial paid time off, full-time employees receiving holidays, personal daysRead MoreThe Ethical Approach Of Bob Bowlsby1484 Words   |  6 Pages The ethical approach that Bob Bowlsby is utilizing in his argument is the justice approach. Bowlsby’s comment deals with fairness. His opinion is that it is not fair for football and male basketball student athletes to receive a salary while female and male student Olympic sport athletes who partake in swimming, wrestling, and lac rosse, for example, do not receive the same benefit (Strickland Moody, 2014, p. C-422). The justice approach is based on fairness, equity, and impartiality as it derives

Saturday, December 21, 2019

kindergarten - 1034 Words

THESIS TITLE PROPOSAL TITLE: The Level of Mother Tongue-Based Reading Readiness of Kindergarten Pupils of Cabatuan East Central School SY 2013-2014 Proponent: OPIDO, Patson P. Statement of the Problem This study attempts to assess the level of reading readiness in the mother tongue of Kindergarten Pupils of Cabatuan East Central School SY 2013-2014. Specifically, this study attempts to give answer to: 1. What is the profile of the respondents in terms of: a. age b. gender c. mother tongue d. gross family income e. educational attainment of parents f. early childhood education g. availability of educational materials at home 2. What is the level of mother tongue based-reading readiness skills of the pupils in terms of:†¦show more content†¦But when the language of learning and the language of instruction do not match, learning difficulties are bound to follow. To discard the use of the L1 in favor of an unfamiliar language upon the children’s entry into grade school is tantamount to displacing or disconnecting their foundational knowledge from the learning process and concepts confined in the classroom. When this happens, learners lose interest in their studies, drop out of school, or lose sight of the long term goal of getting educated, thus becoming underachievers. The Philippines is a multicultural, multiregional, multiethnic, and multilingual nation. It has around 170 different native languages. Deploying all these languages as learning resources is a formidable task. However, the enormity of the problem is lessened by the fact that 15 of these languages are already spoken by 95 percent of our population (Nolasco, 2010). From the 15 dominant languages, 11 mother tongues will be used as sole languages of instruction. They are Cebuano, Iloko, Tagalog, Bikol, Hiligaynon, Waray, Kapampangan, Pangasinense, Maranao, Maguindanaon, and Tausug . These MTs were chosen because they are the most widely spoken languages in the country (Isagani Cruz, 2010). Paradigm of the Study INPUT PROCESS OUTPUT 1. F E E D B A C K METHODOLOGY Research Design This study is descriptive in nature. This study attempts to measure theShow MoreRelatedKindergarten Curriculum6037 Words   |  25 Pages K to 12 Curriculum Guide KINDERGARTEN January 31, 2012 K TO 12 – KINDERGARTEN I. INTRODUCTION â€Å"The first years of life are important because what happens in early childhood can matter in a lifetime.† (Harvard, 2009) The Department of Education (DepEd) having been a strong advocate of early childhood education has implemented various programs for preschoolers for decades now. The Department further strengthens this through the inclusion of kindergarten in the K to 12 basic educationRead MoreDisadvantages Of Transitional Kindergarten1377 Words   |  6 PagesImagine two parents who have a child getting ready to go to kindergarten. They are very smart and seem completely prepared for this big milestone. There is only one problem, her child’s birthday does not meet the cutoff date. Now she is faced with the decision of where to educate her child. Does she put her child back in preschool? Should she homeschool her child until the next school year? This is an obstacle faced by many parents all over the country whose children do not meet the cutof f age forRead MoreHow Pre Kindergarten Programs Increase Literacy And Prepare Children For Kindergarten960 Words   |  4 PagesTitle How Pre-Kindergarten Programs Increase Literacy and Prepare Children for Kindergarten Justina Jefferson Walden University Tools for Doctoral Research (EDDD - 8003 - 2) Background/Introduction The problem that I would like to address is how pre-kindergarten programs increase literacy and prepare children for kindergarten. Researching this problem will allow me to explore early literacy programs and how they implement literacy programs that facilitate the developmentRead MoreConcept Of Kindergarten Readiness?3838 Words   |  16 PagesConcept of Kindergarten Readiness Kindergarten readiness is a term that one hears in preschools all over the country. It is of very high concern to parents and teachers alike. What is kindergarten readiness? Graue (2010) reminds us that â€Å"it has been generally accepted and reliably supported that kindergarten readiness is determined by more than age†. It is a broader concept of the skills necessary to make a smooth transition to the kindergarten classroom so that they can be successful (Wesley Read MoreThe Truths About Preschool And Kindergarten1704 Words   |  7 Pages The Truths About Preschool And Kindergarten In America and How it is Benefiting Our Kids Introduction In my research essay I will be researching and talking about the early childhood education in America. In addition to that I will talk about the benefits it is having on our children from what I have learned from my sources, and how teachers of early education are being equipped to handle these classroomsRead MoreKindergarten Vocabulary : A Literature Review1488 Words   |  6 PagesKindergarten Vocabulary: A Literature Review of Effective Instruction Introduction When students enter into the kindergarten classroom, they are greeted with a plethora of new knowledge that they may have previously not had exposure, such as phonics, phonemic awareness, fluency, comprehension, and vocabulary. Within these, vocabulary is often a major struggle for many children in kindergarten. Young children are often exposed to vocabulary through conversations, but not in a manner of teachingRead MorePersuasive Essay- Ipads in Kindergarten1261 Words   |  6 PagesAuburn Schools: Moving in the Right Direction In 2011, ten years after Maine began issuing laptops to all seventh graders, the Auburn School System launched an initiative to provide an iPad 2 for each of its students entering kindergarten. At a cost of roughly $200,000- representing a 5% increase in the school budget (Opinions Divided†¦) some taxpayers were less than pleased- calling it a complete waste of money. But in Auburn- and schools around the country- trends are emerging and showing the iPadRead MoreFull Day Kindergarten Programs3651 Words   |  15 PagesFull Day Kindergarten programs The reason children attend kindergarten today is so they can be taught a meaningful and balanced curriculum filled with skills and information. Teachers do this through age-appropriate activities that encourage the children to learn more (Marzollo, 1987). In order for children to develop the necessary skills for success in life, they need to attend kindergarten. In full day kindergarten programs more time is available to develop the necessary social and academicRead MoreFriedrich Froebel, Founder of Kindergarten2058 Words   |  9 PagesFriedrich Froebel, Founder of Kindergarten Friedrich Froebel was a German educator of the nineteenth century who developed an Idealist philosophy of early childhood education. He established kindergarten and education for four and five-year-old children. Kindergarten is now a part of education worldwide. Friedrich Froebel was born in the small town of Oberwiessbach, Germany in 1782. His mother died when he was a baby. His father remarried, but Froebel never liked his stepmother. His feeling ofRead MoreMy First Day Of Kindergarten847 Words   |  4 PagesJust yesterday I walked through the gym doors of LC with my mom to meet my classmates for my first day of Kindergarten. I had no idea how it would feel, or what great memories would be made in those hallways that I would never forget. As I walked into my classroom, I met my teacher, Mrs. Goecker. She had very little tolerance for me when I refused help from a classmate one morning during spelling and vocab. This resulted in her sending me to the principal s office. That was a very scary experience

Friday, December 13, 2019

Kinh Do Bakery Free Essays

string(37) " and development of the corporation\." Executive summary This report was aimed at analyzing current issues in the organizational environment of KDC and providing recommendation for the company to improve its performance regarding environment. The analysis focuses on the external environment of KDC. Overall, KDC has a quite favorable external environment to a certain extent to make out the most of it. We will write a custom essay sample on Kinh Do Bakery or any similar topic only for you Order Now However, each of the factors in its external environment have good and bad effects on its outcome, realizing and understanding all of which can help the corporation to exploit the most from the environment and avoid mistakes reducing its achievements. External environment is divided into general and specific factors. In the general environment, economics is enduring massive fluctuations, making customers cut down expenditure and turn to economically efficient products. The political condition in Vietnam is stable, appropriating for applying in a long time. Whereas, the life styles of people are under a considerable change, they adopt time- saving meals, which is an opportunity for instant foods of KDC. Nevertheless, the instant foods are also proved not to be so good for health. Finally, beside a potential domestic market, which possesses an ideal population structure, as Vietnam joined in WTO, it comes a chance of extending KDC’s market into the world. In the specific environment, because of the significant drop in people’s income comparing to real value of commodity, the purchasing power of customers decreases. The widespread of fake and low quality goods turns out to be an opportunity for KDC as people trust in established organizations. Regard the potentiality of confectionery industry development in Vietnam, it is easy to understand the vast number of KDC’s rivalries in the market, and despite the leading role of KDC, the others have their own considerably outstanding strengths. KDC has a wide variety of suppliers both from domestic and abroad, which bring not only benefits but also disadvantages due to the differences in price and the distance to deliver. Finally, pressure groups always react in case of wrongdoings. With a view to solve the problems and exploit the market, KDC should cut down the price, diversify the products, build development and extend plans. They also should consider more about the responsiveness to the consumers and society I. Introduction KD is a big corporation which is the combination of many subsidiaries and each of which has the specialized production. However, when it comes to the brand name of KDC, people often associate it with the confectionary production, which is under implement of Kinh Do Bakery. Established in 1993, after 19 years of development, this company has become the leading one in the food industry. KDC is considered to be one of the well-known joint- stock company which is not only dominating in the market of Vietnam but also expanding to the international scope. In the recent years, though the economic recession has put a lot of pressure on the well-being of many companies, KDC still has the good performance and even make the incredibly high profit in the stock market of Vietnam. The annual report of KDC reveals that in 2011, the revenue increased by 32% and on average every SBU achieved the growth level of 2 digits. As food processing is the main production activities and also the base for the development of the whole group, the annual turnover from this section strikingly accounts for nearly 90% of the total revenue for the corporation. The customer that KDC targets at is the Vietnamese one especially children because normally, the confectionary good is more preferred by this group than the adults. Therefore, what the company is producing and providing to the market is of various kinds including candies, cakes, soft drinks, ice cream and other product made from milk. In addition, they have the desire for bringing their products to the world market to consolidate their position and get more profit. No matter what strategic goal that KDC aims at, they always consistently follow the mission of the company which providing customers with the safe, delicious and nutritious products and trying to meet the changing their needs to fulfill the dream of making life better day by day. By that way, KDC can maintain its long-established reputation in the food industry as well as sustainable and non-stop development in the future. II. External environment analysis of KDC 1. General environment like any other organizations KDC is affected by its general environment which includes economic, political , sociocultural, demographic, technological and global conditions. 2. 1 Economic conditions Recently, Vietnam’s economy has been undergoing massive fluctuations which have affected almost companies including KDC. First of all, the years ranging from 2008 up until now, the issues of escalating inflation and high interest rate have posed numerous threats to businesses (Tu 2011). It is undoubted that those components of the economy have changed spending behaviors of customers, who may cut down their expenditures on luxuries as well as become more critical about what to buy and how much to buy. This may be a real challenge for KDC since the corporation is well known for high quality and costly products. 2. 2 Political/ legal conditions There is no doubt that political and legal situation of each nation always exerts profound effects on its business performance. In terms of politics, it is widely accepted that political environment in Vietnam is relatively stable, which gives KDC an opportunity to apply its development policies in a longer time frame without having to follow various political institutions. Concerning legal aspect, Vietnam Government provides and enforces Business Law by which an organization operates. For instance, in May1st, 2012 the Tuotre. vn reported that Vietnam Government passed through the Law which required higher minimum salary. Consequently, KDC had to spend more on salary for its employees. Hence, legal environment in Vietnam not only brings about advantages to a confectionary producing firm like KD but also creates barriers to the expansion and development of the corporation. You read "Kinh Do Bakery" in category "Essay examples" 2. 3 Sociocultural conditions In recent years, Vietnam’s society and cultures have been experiencing considerable changes, which brings about the change in consumers’ life styles. One of which is adopting time saving meals instead of traditional ones, which is beneficial for instant foods industry- the major of KDC. This can be regarded as a big opportunity for all the businesses which manufacture instant food like KDC. Meanwhile, there is also another dominant trend in today’s society which to some extent may affect KDC. That is the shift in the Vietnamese perception in the importance of health in their lives. Thus, it is trendy now that more and more people put much emphasis on food hygene and safety when making choices of food. It means that they are tending to consume the products which are rooted in long-established and well-known brands. This is undeniably an obvious advantage to KDC which is by far top-of-mind company in Vietnam food industry. However, it is also posing challenges for KDC considering the confectionary sector. It is universally known that the products such as candies, cream cakes and so on are among the major causes of obesism, which may lead to cardiovascular diseases and other serious problems (Bang 2011). As a result, people in modern culture with educational improvements have been gradually changing their tastes to adjust to products which contain low fat and cholesterol intake. This would be a big issue for KDC which operates in the field of manufacturing products with high volume of sugar, milk and butter. This is a big challenge for KDC to innovate the ingredients in its products to meet these new requirements from its customers. 2. 4 Demographic conditions As reported in the CIA World Factbook in 2011, Vietnam has an ideal population structure, consisting of more than 90% of youth and mature people within working age. This has contributed to creating a vibrant and potential market for KDC in private and food industry in general. Moreover, this striking pattern in age structure of the country also brings about a significant benefit for KDC, which does business in food manufacturing sector with high demand for labors. 2. 5 Technological conditions It is obvious that technology is a very active element filled with numerous opportunities and threats to enterprises. First of all, as widely accepted, the introduction of modern technology helps simplify a variety of complicated and time-consuming manufacturing processes, contributing to optimizing efficiency and improving profits for many firms. However, in Vietnam, it seems to be an immense challenge since there is a shortage of qualified staffs to meet the new requirements of knowledge economy such in-depth understanding of advancements in science and technology. In addition, our country also ranks behind many other countries in the world in the field of technological applications as well as transferring. According to the Report of the World Economic Forum (WEF) published in recent years concerning technology indicators, the order of our country is 92 out of 117 hile that of Thailand is 43. Hence, it can be concluded that this would an immense challenge for KDC to cope with technological issues today given the explosion of newly emerging technologies, which has and has been making existing ones become quickly obsolete and need innovating much more frequently than ever. 2. 6 Global conditions As reported in the VTC news, Vietnam has officially become a member of the World Trade Organization-WTO. This has marked an important turning point in the country’s development in all aspects. In terms of economy, joining the WTO has given domestic enterprises an opportunity to integrate into the global economy, expanding their scope of market. Nevertheless, it may also pose threats to many firms as it would attract more and more foreign investment into the country, creating harsh competition in domestic economy. KDC may also be put under this threat unless it could reinforce its outstanding position in customers’ mind. In addition, the opening of the country’s economy to the global one also means that our economy will be influenced by fluctuations in other economies. In recent years, the whole world has been suffering a long period of economic downturn, which has resulted in a dramatic decrease in purchasing power even in developed countries. Thus, not only KDC but also numerous enterprises all over the world would have to address this problem to gain an outstanding position in the gloomy picture of global economy. 2. Specific environment 3. 7 Customer According to Stephen P. Robbins and Mary Coulter, the specific environment is the external factors directly affecting managers’ decisions and actions and is of the most relevant components to the achievement of the organization’s goals (Robbins2009, p. 8). As specific environment is unique to each organization, it is worth analyzing the specific environment of KDC to find out its opportunities and threats. Customers seem to be first mentioned as an organization’s existence is for their demands. Consequently, this is the objective that organizations have to satisfy initially. Na turally, customers always want to buy goods at the lowest price and highest quality, which pushes organizations to race in the field of price and product’s quality pressure. It is quite challenging in the case of price pressure as the price of inputs is increasing faster over time whereas the income and purchasing power of consumers are limited. According to the Vietnam economic forum, in 2009, GDP of Vietnam decreased by 51 years in comparison with Indonesia, 95 years with Thailand and 158 years in comparison with Singapore (Le Khac 2012). In the article titled â€Å"Moi lo lon: gia ca tang cao thu nhap tang cham† (2007), the author also mentioned about the alarmingly increasing trend of necessary goods including food, which had strong negative impacts on the living standard of people with low income. Despite the increase of production cost, organizations still have to maintain their quality of goods because without it, consumers will reduce their purchase. Especially in the context of fake goods and low quality goods widely spread in the market, the challenge that KDC has to face is not easy. The article â€Å" sua kem chat luong, banh keo qua ‘dat’ tran lan† (2005) reveals that market control forces discovering successively increasingly cases of producing and delivering fake and low quality goods, included products faking KDC’s, which absolutely negatively affects the prestige of the company. However, the number of consumers trusting in KDC and buying its products always ranks first in comparison with other domestic confectionery companies, showing the advantage of it over the rivals, the total revenue of 4 other largest companies in term of confectionery which are Hai Ha, Huu Nghi, Biscafun and QNS is only equal to 73% of KDC’s (2012). One more problem that the company itself realized is that the bird flu, which affects the quality and price of eggs_ the major ingredients in making KDC’s products, raised the cost of production and reduced the sale of the products (2012). . 8 Competitors Although KDC is the largest confectionery company in Vietnam, it does not mean that it can eternally maintain the current position without caring about other less successful companies and other kinds of competitors. The main current rivalries of KDC are Hai Ha, Huu Nghi, Biscafun and QNS. While KDC focused on the high and medium grade products, others tend to pursue producin g the common grade products. And whereas KDC is the leader in the market share of moon cake, AFC and sweet biscuit, those 4 companies also ave their strong positions in other products: BBC lead in candy market, HHC lead in chew and Jelly market, Huu Nghi well-known for Tet jam and industrial salty bread, which also bring them great profit and still tremendously potential to exploit (2012), from the research, we realize that although the way KDC is following is highly profitable and still grow fast, it may be rather risky when the income of consumers is low and they cannot afford its products in the future, in that case, they can turn to other brands. It also exists the case of consumers changing their tastes, and demand more the products that KDC does not focus to, which can reduce sharply its sale revenue. Additionally, the confectionery industry is one of the most potential industries in Vietnam ( from 2008 to 2012 the production of confectionery increases by 114. 7% per year despite the depression  (2007), so the chance of new entrants coming to it and take parts of KDC market share is of high likelihood 3. 9 Suppliers Regardless of however potential the market is, without suppliers, a company cannot perform anything. Suppliers, defined as who provide not only materials and equipment but also financial and labor resource, play a crucial role on the well-being of companies. In the case of KDC, the suppliers of raw materials are determined by its vision and mission. As the quality of products is what factory puts the most emphasis on, KDC has a tendency to coordinating with the partners of high prestige supplying high quality and clearly-rooted materials. The main inputs such as sugar, eggs, flour, admixtures are taken from the domestic market while milk powder and chocolate are from the global one, particularly, France, Thailand, Australia, and New Zealand. It can be acknowledged as an opportunity of KDC because the materials in the internal market are always available and it just has to deal with negligible carrying cost. Whereas, the wider spread of supplier network over the world market enables KDC to be flexible in ensuring the inputs for production. Along with the opportunities, suppliers also pose a lot of threats to the company in different ways, the first of which is through prices. As announced in the annual report of KDC in 2011, due to the inflation, the firm suffers from dramatically increasing and unstable prices of material together with the rises in salary and utilities expense, which leads to a significant drop in total revenue of KDC. Moreover, as KDC imports some materials from the external market, they are the price takers. Therefore, they will encounter some problems because of the fluctuations in the world prices. Back to the domestic market, the changing prices of inputs, especially sugar is really a pending issue. Not only KDC but also many confectionery producing corporations also get exhausted with the discrepancy between the sugar price at the beginning and the end of the harvest. While the price of confectionery does not change by 10 % per year, the sugar price fluctuates by nearly 30% (Hung, cited in thesaigontimes. vn, 2012) What is more, company effectiveness of performance is reduced significantly by supply chain disruption especially in global sourcing. Rob Handfield (2011, p3) points out that the delay in supplying can cut down shareholder value by as much as 10% or even worse in ‘time-sensitive† environments where early market introduction is critical to success. KDC also gets part of its inputs from the external market through shipping so it is impossible to avoid the risk of supply chain disruption, which means a great deal of time and money wasted. 3. 10 Pressure groups. One more factor that a firm often has to bear in mind derives from pressure groups, which are the ones attempting to influence the actions of organization. Every organization has its own pressure groups and as for KDC, the 2 groups that have the role in regulating KDC’s performances are Environmental Protection Group and Customer Right Protection Group. The EPG takes investigation of the treatment to wastes from production activities of KDC to determine whether it does harm to environment or not. If there is any problem, they will reflect it through the medium to force the company to correct it or make some compensation. The CRPG monitors the action of KDC from the step of taking inputs to processing and packaging to ensure it is safe to the health of customers. As the social attitudes change so does the power of pressure groups. In 2008, KDC had been blamed for using milk powder that contains melamine- one toxic substance- to produce cakes. Under the pressure of media, KDC had to carry out a careful test to make sure that the production was absolutely reliable. ( Thao, cited in baomoi. com,2008) | | | | | III. Recommendations In term of specific environment, as confectionery demand is rather elastic due to its enormous number of close substitutes, the lower the price is, the higher the demand is, especially in these dark days of the economy. Hence, it is obvious that KDC should take a set of actions in terms of price to motivate consumers to purchase more such as reducing the price of products, or giving promotions when they buy a certain large amount. Such programs will not only raise the company’s revenue but also make its reputation much more well-known. The marketing work also should be taken into consideration since the current advertising campaign of KDC is not of high effectiveness. Thus to make the quality of its products known and then highly regarded by people, it should promote advertising and marketing strategy. As regard competition, to be more competitive to best exploit the market, it is thought that KDC should research and build development plans, diversifying its products and expanding to other markets, this will both helps KDC to avoid the case of lower revenue due to the change of consumers’ taste and bring about enormously larger revenue if successful. For the suppliers, the careful analysis over opportunities and threats that supplier chains bring about gives the implications for the company to direct its actions. As for KDC, to minimize the negative impacts of suppliers, it has to face 2 ill-minded questions. The first one is how to reduce the purchasing prices of inputs. To enjoy the low-cost sourcing, it is advised that KDC should make a periodical purchase with extreme amount of materials. By that way, KDC is benefit from the great negotiation power over its partners about the prices. Another question is how to manage the risks from tardy delivery progress. According to Handfield, the most critical action is to develop the supplies chain strategies to detect the problems, assess the negative impacts and also mitigate them. In the case of KDC, they should sign the strict contracts with its partners, forcing them to adhere to the contracts to ensure about the delivery progress. Moreover, it is better for KDC to make plans of frequently checking the materials left to be active in ensuring the inputs for manufacturing. Besides suppliers, KDC should pay attention to the pressure groups. The only way to get out of the impacts of them is doing things right. In particular, KDC is encouraged to give priority to the customer rights by providing the safe goods to consumers with appropriate prices. Moreover, it is necessary to develop a business plan of manufacturing parallel with protecting environment. It is the way KDC performs its social responsibility. Turning to external forces in the general environment, there is no denying that KDC should take these components into thorough consideration. Concerning opportunities, the firm should understand and take advantage of them to reinforce its competitive advantage over other competitors. For instance, in terms of demography, Vietnam seems to be a dynamic and potential market for confectionary products. Therefore, KDC should seek the ways to expand their scope of production as well as diversifying their items to meet new requirements from different customers. Turning to the issues that are generated by the general environment, the firm should stay alert and pay more attention to them if it does not want to be put under serious losses. Specifically, it is obvious that KDC should take into account the fluctuations in the open market as well as changes in the Government rules and regulations to respond quickly and make appropriate adjustments for its strategic management. IV. Conclusion To sum up, it is concluded with no doubt that KDC is doing an extremely good business, which brings about a strikingly high economic profit and also gets the KD’s brand name familiar with the customers in the domestic market as well as the global one. To attain this achievement, beside some internal factors of the company such as the good manager, skillful employees or great capital, the external environment of KDC also makes a significant contribution. The general factor, which include economic, demographic, technological, social, cultural, political/legal, global, though do not have the direct impacts on the performance of KDC, they still serve as the frame to set the standard for all business activities. On the contrary, KDC is influenced by four specific elements namely customers, suppliers, competitors and pressure groups. They act as the determinants of the success or failure of KDC. Hence, it is required for KDC to carefully understand the opportunities as well as threats that these factors pose on the company to have the right direction for development in the future. REFERENCE ‘Danh sach nha cung c? p nguyen li? u cho Kinh Do. ’ 2011 [online] Available at URL : . http://www. tuhaoviet. vn/index. php/tin-tuc/tieu-diem/199-dac-diem-cua-nganh-banh-keo-viet-nam#. ULFf_4c2aIU. KDC (Accessed on November 24,2012) Hung, 2012, ‘ Nien v? mia du? ng 2012/13 : cu? c chi? n gia c? ’ [online] Available at URL : http://www. thesaigontimes. vn/Home/kinhdoanh/dautu/84914/Nien-vu-mia-duong-2012/13-Cuoc-chien-gia-ca. html. ( Accessed on November 24, 2012) Thao, 2008, ‘ Kinh Do: s? a nguyen li? u khong ch? a melamine’ [online] Available at URL : http://www. baomoi. om/Kinh-Do-sua-nguyen-lieu-khong-chua-melamine/82/2048232. epi ( Accessed on November 25, 2012) Rob Handfield, 2011, ‘Reducing the impact of disruptions to supply chain’ Bang 2011, ‘11 sai l? m d? n d? n beo phi’ [online] Available at URL: http://www. eva. vn/suc-khoe/11-sai-lam-dan-den-beo-phi-c131a64320. html (Accessed on November 24 2012) CIA World Factbook 2012, ‘Vietnam Demographics profile 2012’. [online] Available at URL: http://www. indexmundi. com/vietnam/demographics_profile. html ( Accessed on November 25 2012) Dung 2012, ‘Ngh? d? nh s? 31/2012/ND-CP c? a Chinh ph? : Quy d? h m? c luong t? i thi? u chung’. [online] Available at URL: http://vanban. chinhphu. vn/portal/page/portal/chinhphu/hethongvanban? class_id=1_page=1mode=detaildocument_id=157436 (Accessed on November 2012) Khoi 2007, ‘Gia nh? p WTO: Ngay l? ch s? c? a Vi? t Nam’. [online]Available at URL: http://vtc. vn/10-12223/quoc-te/tin-tuc/gia-nhap-wto-ngay-lich-su-cua-viet-nam. htm (Accessed on November 25 2012) Tu 2011, ‘L? m phat va lai su? t tin d? ng’. [online]Available at URL: http://www. baomoi. com/Home/TaiChinh/doanhnhansaigon. vn/Lam-phat-va-lai-suat-tin-dung/7280942. pi (Accessed on November 25, 2012) ‘ Moi lo lon : gia ca tang cao thu nhap tang cham† [online] Available at URL : http://vietbao. vn/Kinh-te/Gia-ca-tang-cao-thu-nhap-tang-cham-Moi-lo-lon/55145690/88/ (Accessed on November 23, 2012) ‘Noi va lam: thu nhap vietnam gia ca quoc te’ [online] Available at URL  : http://vef. vn/2012-04-01-noi-va-lam-thu-nhap-viet-nam-gia-ca-quoc-te (Accessed on November 23, 2012) ‘Sua kem chat luong, banh keo qua ‘dat’ tran lan’ [ online] Available at URL: http://vietbao. vn/Kinh-te/Sua-kem-chat-luong-banh-keo-qua-dat-tran-lan/20438509/87/ (Accessed on November 22, 2012) So sanh cac doanh nghiep banh keo hang dau vietnam’ [online] Available at URL: http://gafin. vn/20120701021441520p0c36/so-sanh-cac-doanh-nghiep-banh-keo-hang-dau-viet-nam. htm (Accessed on November 23, 2012) ‘Banh keo kinh do/ gioi thieu’ [online] Available at URL: http://www. vinacorp. vn/stock/hose-kdc/banh-keo-kinh-do/gioi-thieu (Accessed on November 19, 2012) ‘Vietnam- thi truong banh keo tiem nang’ [online] Available at UR L: http://www. baomoi. com/Viet-Nam–thi-truong-banh-keo-tiem-nang/50/3279233. epi ( Accessed on November 22, 2012) How to cite Kinh Do Bakery, Essay examples

Thursday, December 5, 2019

Control Mechanisms at Boeing free essay sample

Control Mechanisms at Boeing Controlling is an extremely important function of management. Manager’s use control to ensure that goals are met and to make the necessary changes if they are not. Several control mechanisms exist. Managers within companies use the mechanisms to achieve results. This paper will identify, compare, and contrast four of these control mechanisms as they relate to Boeing. It will determine the effectiveness of these control mechanisms, the positive and negative reactions within the company, and how these controls affect the four functions of management at Boeing. Four Control Mechanisms Control mechanisms, whatever their type, exist for the same reasons and same goals in mind: to increase employee production and performance, and to increase the sales, production, and profitability of a company. However, each control works in a different way to achieve these outcomes. Boeing uses many control mechanisms to regulate performance and increase production and profitability. We will write a custom essay sample on Control Mechanisms at Boeing or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Bureaucratic Bureaucratic controls use rules and regulations paired with close supervision to regulate performance. These control systems are designed to measure performance by setting standards, measuring progress and performance, comparing the performance to standards, and correcting mistakes while reinforcing successes (Bateman Snell, 2008). Boeing utilizes the bureaucratic control mechanism by monitoring the performance standards of the operations. Boeing and its competitor Airbus have been finding ways to expedite production and reduce cost. Boeing is working on speeding up production, and raising fuel efficiency of the 787 Dreamliner (Bateman Snell, 2008). Their airplanes are put through many tests to measure the production and efficiency against the standards. Concurrent Control According to Bateman and Snell (2008), concurrent control is a form of bureaucratic control that â€Å"takes place while plans are carried out† (Concurrent control, para. 1). The vision of Boeing was to increase customer knowledge, understand, anticipate, and responding to customers’ needs could be met in a timely manner. To meet these demands Boeing invests on the expansion of technical systems that assist in the integration of production. Boeing also cut cost by eliminating overhead on parts, and outsourcing. Production times have decreased while quality standards have increased (Boeing, 2011). Boeing uses concurrent controls to achieve these standards. Market Control Market controls differ from the bureaucratic controls in that market controls use economic forces and pricing mechanisms in controlling performance rather than performance standards (Bateman Snell, 2008). Boeing met with auto manufacturers to see how they could streamline the factories to make them more cost-efficient and more competitive in the airline market. The company overhauled factories and added individual parts bins that are more accessible and easier to manage. Boeing also reviewed auto maker assembly lines and matched those to increase production of planes by using moving lines (Bateman Snell, 2008). Boeing uses market controls to measure competitor performance and implement their own cost saving strategies. Clan Control Clan control goes beyond the use of bureaucratic and market controls and gives employees the power to make decisions and give suggestions while encourages correct and ethical behavior. The corporate management team at Boeing implemented into the hiring policy the importance of employees working together. The company encourages employees to share ideas and knowledge (Boeing, 2011). Boeing recognizes the need for employee input at all levels within the organization. Effect of Control Mechanisms The effectiveness of these mechanisms depends on how well they companies implement and monitor them. Employees may have both positive and negative reactions to the control mechanisms used. Control mechanisms will not only have an effect on the performance of the company and the emotions of employees, but also will affect each of the four functions of management. Effectiveness The bureaucratic mechanisms used by Boeing are productive and successful. Implementing tools such as employee incentive programs has a positive effect on the 160,000 people Boeing employs around the world. Exploring ideas for employees to contribute to the success of Boeing has boosted morale. The Mighty Students (2011) website state that the market control mechanisms that Boeing has put into place help Boeing strategize ways to capitalize on opportunities in the market and respond to market threats. Boeing also uses these tools to monitor competitor performance, enabling them to respond quickly changes in performance. The clan control mechanism encourages employees to participate with new ideas for the company and promotes innovative ideas that can help the company advance. Clan control also encourages team effort where everyone works together to achieve company goals. Boeing uses the concurrent control mechanism successfully to concentrate on customer satisfaction. Using concurrent controls to upgrade technology, Boeing achieved above average customer service in a timely manner while cutting costs of production. Positive and Negative Reactions Controls can have both positive and negative reactions. On the positive side an effective control system will amplify potential benefits and curtail dysfunctional behaviors (Bateman Snell, 2008). Boeing’s management has a control system that keeps the lines of communication open between employees and management. Establishing valid performance standards where the system incorporates all measures of performance creates positive reactions to the control mechanisms. Control mechanisms can also create negative reactions and lead to dysfunctional behavior. For control systems to work, management needs to keep in mind how their employees will react. Three responses to control exist: rigid bureaucratic behavior, tactical behavior, and resistance (Bateman Snell, 2008). Control systems are in place to uncover negative behaviors or actions that take place in an organization. Employees may think that their job is uncertain because of such controls. Affect on Management Functions The four functions of management can be seen at Boeing. Boeing goes through planning, organizing, leading, and controlling with all projects that they implement. Control mechanisms influence the planning function for new projects. According to Bateman and Snell (2008), â€Å"planning lays out a framework for the future and, in this sense, provides a blueprint for control. Control systems, in turn, regulate the allocation and use of resources and, in so doing, facilitate the process of the next phases of planning† (Chapter 16, p. 574). Through the effectiveness of the controls at Boeing future project planning will be more precise. Through the use of market controls, Boeing can apply cost saving measures from one project and apply them when planning future projects. Bureaucratic controls enable Boeing to leverage the knowledge of time it takes to meet the regulations to establish proper time-lines into new projects. The control mechanisms also affect how Boeing organizes resources. For instance, market controls affect how Boeing organizes their monetary resource among their different budgets. Leading is also affected. Managers can use the control mechanisms in place to encourage their employees to reach goals and achieve company standards. Conclusion Control mechanisms help companies monitor success, attain goals, and implement necessary changes. Several control mechanisms exist. Boeing has implemented control mechanisms successfully within their company.