Bribery - 2208 Words

Research Methodology †¢ Title A study of the effect of bribery and corruption with lack of censorship in the governmental institution There are various reasons why corruption takes place and takes hold. Sometimes it is due to the fact that officials are simply not paid very much and so they need to supplement their salaries with money from bribes. Sometimes the bureaucratic system is set up in such a way that officials simply refuse to carry out their duties unless they are ‘encouraged’ by being offered bribes. In other cases it is actually part of the tradition and culture of a country to give and receive ‘gifts’ in order to get anything done. In some cases companies from less corrupt countries allegedly engage in bribery in order†¦show more content†¦Mostly, corruption occurs in environments where it is tolerated and where the temptation is too strong to resist. In the following paragraph there are some examples of how bribes take place in each and every one of them. The enormous scale of grand corruption in Peru was revealed in 2000 by discoveries leading to the resignation and self–exile of the president, Alberto Fujimori. Video–taped evidence showed that Vladimir Montesano’s, Fujimori’s spy chief, had repeatedly bribed congressmen to defect to Fujimori’s party to ensure its majority in congress. In addition, large bribes had enabled Montesano’s to control most of the media and influence the judiciary. However, Fujimori is credited with having reduced petty corruption. His administration pursued policies reducing the role of government, which he justified not only on efficiency grounds, but on the grounds that reducing the role of government would reduce opportunities for corruption. He attempted to reduce corruption in the police and municipal governments, in the latter case by establishing a supervisory agency to field citizen complaints. However, his reforms of the judiciary are thought to have made it more corrupt. Despite some progress, however, several institutions with which ordinary people have much conta ct were judged to be corrupt by Transparency International in a November 2001 report. ast week did not begin well for Siemens CEO Klaus Kleinfeld, 49, and supervisory boardShow MoreRelatedBribery3420 Words   |  14 PagesBryan Jaeger Business and Ethics UI400-01 April 20, 2015 International Business and Bribery Have you ever bribed someone to let you do something that you weren’t allowed to do? As much as I hate to admit to it, I have done it my fair share of times. Bribery can be a good or bad thing depending on the situation and how the bribe is used. No matter what I believe that bribery can usually lead to bad consequences. Though it can happen for just small things such as slipping someone a 20 dollarRead MoreBribery – the Dilemma1696 Words   |  7 PagesMexico where bribery is commonplace while at the same time trying to ensure that they do not violate their companies code of conduct or worse the government’s Foreign Corrupt Practices Act (FCPA). It is a fine line they walk. This paper will help those managers by explaining what bribery is, why it is thought to be an issue, show recently where companies have bribed and been caught as well as offer suggestions that will enable the U.S. manager in Mexico to accomplish what bribery accomplishes butRead MoreInter national Bribery Regulation And The Bribery Act 20101545 Words   |  7 Pages2.4 International Bribery Regulation and the Bribery Act 2010 2.4.1 Development of National and Transnational Ethics Regulations The development of national and international bribery legislation and regulation has been a slow process spanning many centuries, stemming from the recognition of Piracy as the first and true international crime (Duhaime’s Law Dictionary, 2015). Although wide agreement exists on the detrimental impacts of bribery and corrupt practices, many individual countries and transnationalRead MoreCorruption and Bribery1795 Words   |  8 PagesCorruption and Bribery April 29, 2015 Abstract In this paper, I will be writing about corruption and bribery. I will define the terms and go on to explain the regulations that have been put in place to stop corruption and bribery. I will then go on to give examples of major corruption and bribery scandals that companies have recently been in and what has been done to punish said companies for their crime. Intro Corruption is defined in the Merriam-Webster DictionaryRead MoreBribery Corruption2102 Words   |  9 PagesBribery and Corruption: Is Signing the OECD Convention Enough? Darina Tomayeva 500127919 LAW724 Professor Lan Word Count: 1645 Bribery and Corruption: Is Signing the OECD Convention Enough? Before the 1990’s, the conventional belief was that corruption in developing countries was practically inevitable and in some cases even desirable. However, a more in-depth investigation into this issue suggests that bribery and corruption can cause significant problems for all parties involved. ForRead MoreBribery And Corruption Of India716 Words   |  3 Pagesemotionally and intellectually and the presentation of the case that gives a voice. The topic of bribery in India or any other countries for that matter, it is utmost important that we understand the points raised correctly and precisely. For this article, the viewpoint by the author was clear, coherent, and elaborated accordingly to the challenges faced by international firms in the form of bribery and corruption in doing business in the national or state level in India. For every argument, relevantRead MoreSiemens Ag Bribery1261 Words   |  6 PagesSiemens AG Bribery Scandal This paper will focus on the analysis of the well-known and popular bribery scandal in the world, such as Siemens AG Bribery Scandal which occurred in November, 2006. Siemens AG is one of the largest and most popular electrical engineering companies operated in the world. The present company was founded in 1847 in Berlin and is now headquartered in Munich, Germany. The discussion and the proper analysis of this bribery scandal will help to learn many effective lessonsRead MoreBribery And Ethics Of The United States2208 Words   |  9 Pages Bribery and Ethics Sarah A. Rowe Campbellsville University â€Æ' Abstract Bribery has become a common term in the corporate world, specifically when international business deals are discussed. Until 1977, it was legal in the United States to bribe foreign officials in order to receive preference or a better business deal. But, the passing of the Foreign Corruption Practices Act of 1977 and its subsequent amendments made it a criminal act for any organization within the U.S. or foreign organizationRead MoreThe Bribery Scandal at Siemens Ag1661 Words   |  7 Pages1. †¢ In your opinion, is â€Å"bribing† unethical illegal or just a cost of doing business? Discuss this in light of Siemens’ bribery scandal. We believe that bribing is unethical because it takes away the fairness of a business transaction between bidders of a contract. Bribing also has a negative impact on competition because it allows for oligopolies and monopolies to emerge in an industry due to smaller competitors being unable to financially compete with the amount of the bribes. This inRead MoreWalmart de Mexicos Bribery Issue668 Words   |  3 PagesIt’s seemingly that Walmart de Mexico bribery scandal is far from over. Many investigations has been carried out to fully answer what acctually happened in the past, what system failed, and who was responsible for possible violations of the Foreign Corrupt Practices Act (FCPA), which bars bribery of foreign officials, but questions of accountability recently remain unanswered. It also means that Walmart leaders have succeeded in hiding all the important clues to avoid sanctions. The whole thing

Effects Of Depression On Young Females And Increase The...

Depression decreases a person’s overall quality of life. The National Institute of Mental Health (NIMH) a government agency, affirms that â€Å"depression is the most common form of mood disorder in the United States† (NIHM, 2015). â€Å"Depression involves a combination of genetic, biological, environmental, and psychological factors† (NIMH, 2015). It affects work, family life and relationships. Although depression usually affects adults, children and adolescents experience depression and are most likely affected into adulthood. (Guttmann Sameroff, 2004). This paper will evaluate how conflicts between mother and daughter relationships directly affects depressive symptoms in adolescent girls. Finally, this paper examines the preventive and intervention strategies to help control depression in young females and increase the relationship between mother and daughter during adolescence years. Recent studies have shown that females are at a greater risk to experi ence depression than males (Daley Rao, 2000, Morris, McGrath, Goldman Rottenberg, 2014). Adolescence is a time in young girl’s lives that they are faced with transitions. A time when adolescence begins at 13 years old (Morris, McGrath, Goldman, Rottenberg, 2014) and young girls are faced with increases in social and academic demands (Daley Rao, 2000). According to Gutman and Sameroff (2004), this is a time in an adolescent girl’s life that stressors can predict more serious problems (Gutman Sameroff, 2004).Show MoreRelatedResearch Proposal: Depression in Children Adolescence - A Cause for Concern?3274 Words   |  14 PagesIntroduction Unhappiness among children and adolescents seems to be rising, but labeling it as depression and prescribing antidepressants are ineffective and possibly harmful, (Timimi, S (2005), isnt it about time we focus on the underlying reasons? Common misconceptions and responses to hearing that a child is depressed or has depression are, but what do they have to be depressed about?. Just 40 years ago, many physicians doubted the existence of significant depressive disorders in children, primarilyRead MoreImpact of Divorce on Adolescents Essay2398 Words   |  10 Pagesfamiliar with and it has almost become a normal part of life. While it is assumed that more divorces occur now than in the previous generation, the CDC actually reports that divorce rates have dropped over the past twenty to thirty years, though this could be due to the increase in individuals who live together without ever getting married or those who simply separate and cannot afford to become legally divorced. However, it has become a more talked about subject. Individuals will tell an engaged coupleRead MoreMale Socialization Essays2337 Words   |  10 Pagesideology. Although all family members contributed to subsistence activities during pre-industrial times, men provided the dominant source of authority within the household. When the economy of the U.S. moved outside of the household during the industrial revolution, men’s family roles became primarily concerned with economic support. Due to the nature of this necessary absence of the father from his family, sons (and daughters) viewed their fathers’ role within the family to be primarily that of theRead MoreThe American Psychological Association4036 Words   |  17 Pagesprimary base of the human growth process that starts with the reproduction of cells. The reproduction will include the physical development of the body, brain development and internal organs that are developing during the pregnancy, birth, early, middle, and late childhood, adolescence, early, middle, and late adulthood until the end of life. Additionally, the environments where individuals grow culture and socioeconomic status also influence the person’s personalities. There exist six main theoriesRead MoreThesis, Term Paper, Essay, Research Paper21993 Words   |  88 Pagesreassessed the timing of childbirth and the role of motherhood in their lives (Preston-Whyte and Zondi, 1992). It has been found that the average number of children per woman has been reduced significantly when compared to the trend in the 1970s, and that young women tend to delay motherhood. South Africa has the lowest fertility rate in sub-Saharan Africa and is at par with other developing countries outside region (Anderson, 2002). In the 1998 South African Demographic and Health Survey (SADHS), it wasRead More Sexual Orientation, Gender Identity and The Social Pressures of Adolescents1983 Words   |  8 PagesMale and female adolescents are stifled from expressing themselves based on how they personally relate to their own femininity or masculinity and sex roles. The cause of this constriction of emotions is due in large part to these young people being coerced into obeying the rules of society. In addition, societal constructions seem to totally disregard the physiological and biological aspects of adolescent puberty. We acquire sexual orientation and gender identity during adolescence due toRead MoreFemale Criminality11608 Words   |  46 Pagesï » ¿Female Criminals Assignment Female Criminality consists of several outdated statistics regarding the rise of female offending. However, in viewing the current research on the subject, it appears that the overall theme of this dissertations discussion is still relevant despite changes in the accompanying statistics as seen in viewing the following topics: the rise in female offending; the continual rise that females are committing more crimes than men; and the types of crimes that women are committingRead MoreIntroduction to Human Development2509 Words   |  11 Pagesyour body helps you maintain vitality and life. BASIC CONCEPTS 1. Human Development refers to the biological and psychological development of the human being throughout the lifespan. It consists of the development from infancy, childhood, and adolescence, adulthood to old age. 2. Development refers to the qualitative, progressive series of changes in an orderly and coherent fashion leading to maturation 3. Growth refers to quantitative changes in an individual as he progresses in chronologicalRead MoreAbortion Is a Selfish Choice3961 Words   |  16 PagesExcerpted from Mother Teresa Goes to Washington, Crisis, March 1994, a reprint of Mother Teresa s speech at the National Prayer Breakfast, February 3, 1994; courtesy of the Missionaries of Charity. Mother Teresa is the founder and mother superior of the Order of the Missionaries of Charity, which provides services to needy people around the world. The following viewpoint is excerpted from a speech she gave at a National Prayer Breakfast in Washington, D.C., on February 3, 1994. Mother Teresa arguesRead MoreWhat Does Biopsychosocial Means?4569 Words   |  19 Pagesprimary base of the human growth process that starts with the reproduction of cells. The reproduction will include the physical development of the body, brain development and internal organs that are developing during the pregnancy, birth, early, middle, and late childhood, adolescence, early, middle, and late adulthood until they die. In addition to the environments where individuals grow, culture and socioeconomic status also influence the person’s personalities. There exist six main theories

Customer Satisfaction - Marketing Metrics And Its Benefits

Question: To properly evaluate a marketing strategy and the way it performs, it is essential to measure market activity using marketing metrics. Marketing metrics are discussed throughout this unit, many metrics can be found in your textbook. They form an important aspect of marketing reporting; increasingly, the Australian Marketing Institute (A.M.I.) is helping member companies use these metrics. Metrics also form the bases of academic research (see Google Scholar and your textbook for examples), with these research articles reporting results on the use of these metrics. Your task is to define customer satisfaction and the measures (metrics) associated with customer satisfaction. Discuss the benefits of these measures to organisations. You are required relate your assignment to a personal experience; apply and discuss the marketing metrics on customer satisfaction to this experience. Give this experience a context by choosing a company (Australian or overseas) and suggest how the marketing manager might use the defined measures (metrics) to improve customer satisfaction in their organisation. Answer: Introduction The market strategy deals with preparation of plans, methods, techniques, etc in order to excel in the competitive and fragment market. Many organizations centers customer to build their market strategy so that they can gain higher profit and sustainable market share (Davis, 2012). In this content, the current assignment will be focusing on the customer and the different customer satisfaction and measurement metrics adopted by the organizations. Marketing Metrics and Its Benefits According to Carr (2012) marketing metrics is considered as a measure to analyse the business operations of the company to know how much they are capable of satisfying the customers. The marketing metrics can be taken up as measures in order to define diagnose causes, phenomena, media impressions, etc so that they can evaluate the trend of their growth. Apart from that Kotler (2012) defines that marketing metrics is concerned with evaluating the marketing strategies so that better plan can be developed in order to meet the future demands and requirements of market and customers. The marketing metrics can be helpful for the organization to analyze their business condition so that they can design their business strategy in order to succeed in the market. The marketing metrics can help the organization in improving or tracking return on investment of their marketing strategies so that incurred cost can be decreased and better result can be gained (Poston, 2012). On the other hand, the marketing metrics can be effective in building marketing strategies. Moreover, the organizations can be able to know where they may need to spend their money and where they can cut the money so that a balance can be maintained in the business operations and supply chain (Arens and Rust, 2011). The company can be able to predict their future budget that may be required for advertising, producing products, etc. The metrics can be useful in knowing the measurement technique that can be helpful in adopting methods so that profit percentage can be engaged (Mamula, 2012). Moreover, the company can be able to take better decision that can benefit the overall organizations. Further, Pilling et al. (2012) discussed that marketing metrics can be helpful in: Quality: The organizations can be to improve their quality of product and process in order to have competitive advantage. The organization can measure their loopholes or errors that may be present in business process or product development and can deliver solution to improve the error (Schulze et al. 2012). Costs: Apart from quality, company can assess the costs that may be required for business growth or in other term, the organization can identify the cost that may go waste and provide no value to consumer (Bailey, 2011). Customers: The metrics can be helpful in giving the idea about the consumer buying patterns or dissatisfaction point of customers related to particular product. Therefore, through the use of marketing metrics organization can evaluate the requirements of customers and their preferences (Ginty et al. 2012). Teams: On the other hand, the organization can also measure the performance of their staffs in given situation. The organizations can use metric such as six sigma or balance scorecard method, etc to assess the productivity and employees performance (Poston, 2012). Customer Satisfaction As per, Wong et al. (2011)customer satisfaction is considered as the marketing terms that is capable of measuring the product or service delivered by the firms. Apart from that, Wood (2011) define customer satisfaction as a metric that helps the business owners or marketers to formulate their strategy in order to improve and manage the business operations. The customer satisfaction provides indication to the organizations that whether their product or services are successful or failure in the market. For instance, if customer rates the product of a company 4 out of 10 then it means that customer is not satisfied. Apart from that, Chris Adalikwu (2012) mentioned that satisfying customer can be effective in decreasing the level of customer churn. Moreover, measuring customer satisfaction would help in placing the process in right place that can increase the total quality in providing customer service. If the consumers are a loyal customers to a company say McDonald can help in increasi ng their sales and revenue and net profit (Ginty et al. 2012). Therefore, it would be valuable for the company to decrease the negative word of mouth. Thus, in order to please the customers, an organization can use the following metrics to gain the higher benefit: Navigational Metrics: This metric is concerned with the advertising in order to navigate the information about the product or service to the customer in order to gain higher profit. However, if the people do not respond to the advertising then it can lead to complete failure and it can affect the company financially (Maricic et al. 2012). On the other hand, company can distinguish between two advertising such as social media and TV commercial and if social media is more powerful then company can eliminate the paper media to reach out to customers. Customer Experience Rating: The organizations can measure the experience of customers via transactional surveys or relationship. This would help in knowing the preference of customers. If the rating given by the customers I below mark then it can directly affect the company and vice versa (Pilling et al. 2012). Through this rating company can be able to know the loyalty and preference of the consumers. Website Total Visit: This would help in understanding the number of times the customers log in to the main website of the company. If there is drop in the visit then the company may need to change their strategy or company can employ marketing channel to investigate the reason behind such drop. Therefore, it can help organization to make necessary changes in website or in their product in order to increase higher traffic (Kumaravadivel et al. 2012). Customer Retention Rate: The organizations may not be able to retain their customer if their buying cycle is lengthy. The company can determine the customer average value through customer retention rate. On the other hand, customer retention rate is useful in knowing the success of company in employing the strategy to retain customers. Therefore, if customer is able to increase the retention rate, the company can increase their profit level and can engage new customer base (Edward and Sahadev, 2011). Customer Value: Through this metric, the organization can analyze the total return on investment. The company can be able to decide the companys annual goals if the company is able to provide better value to consumers. Therefore, company can design their strategy so that better quality of product can be gained in order to increase customer base (Livne et al. 2011). Resolution Time: The organization can assess the performance of their workers in providing rapid and accurate solution to the consumers. If the complaint resolution department of the company is not capable of providing accurate and timely solution then the company y may lose their loyal customers that can lead to negative word of mouth (Skruch, 2011). Therefore, better resolution time can help in recruiting person that can deliver best service to customer and makes healthy relationship with them. Advantage and Disadvantage of Customer Satisfaction Metrics Up to date feedback: The organizations can be able to acquire current feedback of customers through email surveys or online surveys. This would help in knowing the insight of consumer so that better decision and strategy can be made in order to engage customers (Ecsdev.org, 2015). Benchmark outcome: The organizations can be able to compare their past performance and current performance to know the success or failure level. Moreover, on the basis of past result company can set benchmark for future. The company can make require modification if any changes needed (Bear.warrington.ufl.edu, 2015). Track Changes: The metrics can be run multiple times to know the changes if occurs in the buying pattern of the customers. Therefore, metrics can help in tracking the changes over period of time so that positive can be carried forward and negative can be improved (Unc.edu, 2015). Disadvantage Customer Burnout: The customer satisfaction metric can irritate the consumer if is conducted in quick time. As a result, customer may not be interested in completing the survey that can end up to customer burnout. Therefore, the organization may not be able to measure the customer satisfaction accurately (Mit.edu, 2015). Anonymity Issues: If many companies conduct surveys then it can generate fear among the customers that they are being tracked. Due to this, customer may not provide complete information and it can affect the company to increase their sales or income. Therefore, it may be hard for the organization to receive proper response from consumers (Unc.edu, 2015). Experience With an Organization and Metrics Impact My experience with Donut King, Australia was quite bad or say negative. Donut King is a fast food chain of restaurant and my experience with this organization was upsetting (Lagarde, 2013). On 1st January I ordered hot dogs and soft drinks and the staffs of the company delivered product late in evening in spite of ordering at 300 hours. The workers were casual in their approach which upset me. This incident led a negative feeling in me towards the company and their customer service. On the other hand, the manager of the company did not apologized to me even after making complaint. The unethical behavior of the workers changed my view of the company which I was previously holding. Apart from that, I would say that company did not employ the term metrics well in their business process. Moreover, the company did not take up any lesson from their previous fault and according to me the performance of the company declined. Apart from that, the planning of the company was not in place. The Donut King did not apply any effective measurement technique to understand the consumer behavior and what they require. Therefore, this failure can hurt company hardly and as per me the company may lose their customer base if significant changes are not made in the business process of the company. Marketing Metrics to consumer satisfaction Customer Fulfillment Metric: The Company was not able to provide better service to me that lead to dissatisfaction. I was not able to receive my order on due time and if I would have to give rating out of 10, I would rate 6 for their service. There is no question about their quality of food but unprofessionalism in service decrease their overall rating (Sunset.usc.edu, 2015). Brand Awareness Metric: According to my experience, if the company continuously declines their service level then it can directly affect the brand value of the company. On the other hand, it can be tough for the company to increase the brand awareness (Huang and Sarigll, 2012). Customer Attitudes Metric: As per my experience, the attitude or behavior of the customers can be negative if company does not increase their service level. The lack of communication channel can result in ineffective customer attitudes. The company may need to study the consumer behavior in order to engage large customers (Miceli et al. 2013). Recommendations In order to improve the level of customer satisfaction, the Donut King has to improve their: The company has to involve employees that can provide timely service to the customers. The employees can be assigned task individually so that they can focus completely on their part. Therefore, it can help in increasing the service level and gaining satisfied customer. Secondly, the company can provide training to their workers in order to handle the customers more efficiently and effectively. This would help in delivery quality and accurate service to consumers. The company can fire the employees that hold unethical approach with the customers. Therefore, it can help the company to have effective and productive team work that can increase the brand value of customers. Lastly, the company has to understand the requirement and behavior of consumers so that best and superior service can be provided. On the other hand, it can help the company to make better future strategy and meet the requirements of people effectively. Conclusion The marketing metrics is effective in aligning the strategy of an organization towards the particular goal. The company can have better planning process and can monitor the changes in market and their business operations. The customer satisfaction metric is effective in understanding the loyalty towards the company. Lastly, my experience with Donut King has been shared and I have suggested some suggestions that can be useful for the company. References Arens, Z. and Rust, R. (2011). The duality of decisions and the case for impulsiveness metrics. Journal of the Academy of Marketing Science, 40(3), pp.468-479. Bailey, M. (2011). Internet marketing. Indianapolis, Ind.: Wiley Technology Publishing. Bear.warrington.ufl.edu, (2015). Customer Metrics and Their Impact on Financial Performance. Carr, K. (2012). Pinterest marketing for dummies. Hoboken, N.J.: Wiley. Chris Adalikwu, (2012). Customer relationship management and customer satisfaction. AFRICAN JOURNAL OF BUSINESS MANAGEMENT, 6(22). Davis, J. (2012). Measuring marketing. Chichester: Wiley. Ecsdev.org, (2015). Customer Satisfaction Measurement and Analysis Using Six Sigma. Edward, M. and Sahadev, S. (2011). Role of switching costs in the service quality, perceived value, customer satisfaction and customer retention linkage. Asia Pac Jnl of Mrkting Log, 23(3), pp.327-345. Ginty, M., Vaccarello, L. and Leake, W. (2012). Complete B2B online marketing. Hoboken, N.J.: J. Wiley Sons. Huang, R. and Sarig (2012). How brand awareness relates to market outcome, brand equity, and the marketing mix. Journal of Business Research, 65(1), pp.92-99. Kotler, P. (2012). Marketing management. Harlow, England: Pearson. Kumaravadivel, A., Natarajan, U. and Haq, A. (2012). Performance measurement and determination of optimal base stock level inventory system to improve the customer satisfaction in the Six Sigma environment. IJPQM, 9(3), p.382. Lagarde, L. (2013). I say doughnut and you say donut: why is the CTM system 'different'. Journal of Intellectual Property Law Practice, 8(5), pp.347-349. Livne, G., Simpson, A. and Talmor, E. (2011). Do Customer Acquisition Cost, Retention and Usage Matter to Firm Performance and Valuation?. Journal of Business Finance Accounting, 38(3-4), pp.334-363. Lovett, J. (2011). Social media metrics secrets. Indianapolis: Wiley Publishing. Mamula, T. (2012). Role of marketing metrics in strategic brand management. Marketing, 43(1), pp.49-61. Maricic, B., Veljkovic, S. and Djordjevic, A. (2012). Customer satisfaction measurement. Marketing, 43(4), pp.235-244. Miceli, G., Raimondo, M. and Farace, S. (2013). Customer Attitude and Dispositions Towards Customized Products: The Interaction Between Customization Model and Brand. Journal of Interactive Marketing, 27(3), pp.209-225. Mit.edu, (2015). Metrics: You Are What You Measure!. Pilling, B., Rigdon, E. and Brightman, H. (2012). Building a Metrics-Enabled Marketing Curriculum: The Cornerstone Course. Journal of Marketing Education, 34(2), pp.179-193. Poston, L. (2012). Social media metrics for dummies. Hoboken, NJ: John Wiley Sons. Schulze, C., Skiera, B. and Wiesel, T. (2012). Linking Customer and Financial Metrics to Shareholder Value: The Leverage Effect in Customer-Based Valuation. Journal of Marketing, 76(2), pp.17-32. Skruch, P. (2011). A coverage metric to evaluate tests for continuous-time dynamic systems. cent.eur.j.eng, 1(2), pp.174-180. Sunset.usc.edu, (2015). Customer Satisfaction Metrics and Models. Unc.edu, (2015). Choosing the Right Metrics to Maximize Profitability and Shareholder Value. Wong, H., Radel, K. and Ramsaran-Fowdar, R. (2011). Building a marketing plan. New York, NY: Business Expert Press. Wood, M. (2011). The marketing plan handbook. Boston: Prentice Hall.

Making Strategy Strategic Management

Questions: 1. Compare and contrast emergent and deliberate processes of strategy development? 2. Discuss the arguments for and against prioritising shareholders over other stakeholders when devising a companys strategy? Answer: 1. An organisation selects effective and potential strategies in order to achieve the predetermined goals. The organisational strategies are classified as emergent and deliberate. A deliberate strategy can be describes where the collective goals, visions and intentions of an organisation is articulated in broad manner. A deliberate strategy if possible should be communicated to the associated employees, as they are the major responsible for further implementation of the strategy. On the other hand, the emergent strategies can be considered where the consistencies arrive in the behaviour of the organisation. Eden and Ackermann (2013) have mentioned that emergent strategy can be employed when the environment imposes the pattern of actions in direct manner. However, there are no universal consensuses, which will reveal that which approach is perfect for the organisation. Deliberate strategy is facilitated with the help of three processes strategic leaders, who use strategy to manifest leadership; strategic planning mechanisms, which involve systematic analysis and exploration for development of organizational strategy; and external imposition of strategies by stakeholders. On the other hand, emergent strategy is developed with the help of four processes - logical incrementalism that helps the development process by experimentation and gaining of knowledge from partial commitments instead of global formulations; learning organization that is capable of getting regenerated continuously with the help of knowledge, experience and skills within an encouraging organizational culture; political processes that involves the development of strategies in the form of negotiation outcome amongst stakeholders; and continuity strategy takes form because of continuous strategic moves, strategic decisions and taken-for-granted culture in organizations. Both the deliberate and emergent strategies possess own advantages and disadvantages. It is up to the management of the organisat ion in order to determine the appropriate strategy. According to Wiesnerand Millett (2012), the business experts of an organisation should understand the type of strategies before implementing those. The goals, vision and mission of an organisation should be considered before incorporating the proper strategies. The management understand the basic differences in between the realised and intended strategies. There are always requirements of understanding a perfect balance in between the emergence and the strategic design. As opined by Mirabeau and Maguire (2014), deliberate strategies involve plans for future and effective thought. The deliberate strategies are always formulated, which the emergent strategies are not. The deliberate strategies can be unrealised or realised in potential manner. On the other hand, the deliberate strategies are considered as smart strategies than the emergent strategies. Emergent strategies are made from the patterns of present, past and future of the organisation. Emergent strategies can be used when the vision of the organisation provides a general sense of direction. The potentiality of the emergent strategy suggests its reaction to the existing business activities. This particular strategy also reacts to the new opportunities and the potential threats that may damage the brand image of an organisation. Hillet al. (2014) have mentioned that the deliberate strategy focuses on the control and direction, whereas the emergent strategies involve the basic notions of the st rategic learning. Both the emergent and deliberate strategies identify the fundamental intention of the activities within a corporation in together manner. Any kind of business can fall under either the emergent strategy or the deliberate strategy. Both of these strategies occur in the large business functions instead of small ones. Both the deliberate and emergent strategies always address a specific kind of concentration on the exact content of strategy. The deliberate strategies attempt to reduce the outside influence on the business activities. According to Vaara and Whittington (2012), the employees of the organisation should learn adequate familiarity with the future business operations and goals. Following the deliberate strategy, the employees should discuss every action and think properly in order to achieve the objectives of the company. On the other hand, the emergent strategies can be considered as the realised strategies, the emergent strategy creates an opposite effect of the deliberate strategy. The emergent strategy can mark a specific pattern of the business functions, which has been developed over time. Even this particular strategy is more contemporary than the deliberate strategy. The actual pace of the transformation in current business environment is gradually staggering. The formal economic theory of strategy states the existing ideas within the management. This particular theory suggests transparent interpretations and permit analysis that help to make suitable decisions for further development of the organisation. This particular theory involves the importance of strategy as an essential solution to the problems that exists in the company (Chariet al. 2014). On the other hand, the theory of the strategic planning involves the constant strategy development of the organisation. This particular theory helps the business experts and the management to plan efficient budgets and to adopt much more disciplined and systematic approach while implementing the effective strategies. Papadakis and Barwise (2012) have contradicted that the theory of the strategic planning involves a perfect planning, commanding, organising, controlling and coordination of the strategies. The critical evaluation of the theories related to the strategies of the companies suggests the concentration on the governmental competence and competitiveness among competitor companies. There are also arguments, which clearly reveal the fact that there are hardly any fair scopes for the business experts of the organisation to follow the theories related to the strategy. The management generally follows the contemporary trends in the particular industry before implementing effective strategies in their corporation (Neugebaueret al. 2015). The deliberate strategy can be considered as top-down, which is akin to the strategic planning. This specific strategy needs to be coordinated with the three actions, such as the management should address every critical explanations for make the strategies successful. The management should perceive the picture of the implemented strategy in order to align the actions of the organisation. Birkstedt (2012) has contradicted that the emergent strategy is more cumulative effect on employees and sales persons rather than the higher authority. Aspial Corporation, a famous retail chain in Australia operates its business operations in the gradual changing industry. The industry of Singapore is very much dynamic and its business environment changes with the improvement of the business laws. The management of Aspial Corporation has truly understood that if there are any drawbacks within the newly implemented deliberate strategies in order to continue their present business activities, then it w ill surely influence their current business scenario. The emergent strategy of this company also supports the competitiveness in the specific industry. Aspial Corporation encounters a high level of competition in the retail industry of Singapore from the retail companies like Popular Holdings, Sheng Siong and NTUC FairPrice Co-Operative. The management of Aspial Corporation ignores the deliberate strategy and follows the emergent strategy, as it requires tactical operations decision on regular basis. Most of the business theorists have reviewed the emergent strategy as upcoming and flexible than the implementation of the deliberate strategy. However, the management of Aspial Corporation has viewed the emergent strategy as an important method of learning. On the other hand, the higher authority of the corporations adopts various profitable operation procedures and techniques into the predictable goals of the organisations (Papadakis and Barwise 2012). Both the emergent and deliberate strategies are suitable for modern days business world. There are advantages and disadvantages of both of these mentioned strategies. An organisation whether requires emergent or deliberate strategies can be determined by its present situation in the market. Going with the contemporary trend, most of the multinational corporations strictly follow the emergent strategy over the deliberate strategy. 2. There are always great debates over the importance of shareholders and stakeholders during the time of devising the strategy of the company. The strategy experts make a thorough market research before suggesting any effective and potential strategies for the further development of the company. In most of the case, the multinational corporations prioritise their shareholders while devising the companys strategy. With the help of the shareholders fund, an organisation secure its economic condition in todays competitive economic world. According to Miles (2012), the satisfaction of the stakeholders of a company should be measured as they are the most engaged individuals of the organisation. In a broader aspect, the stakeholders involves investors and shareholders alongside the associated employees, consumers, government and the business partners. The competitiveness of the particular industry where the company is continuing its business actually decides the kind of strategies require d. The strategy experts play a pivotal role for deciding the appropriate strategy for the company in order to hold a strong position in the particular industry. As opined by Retolazaet al.(2014), both the shareholders and stakeholders are responsible for a great contribution to the success of the company. On the other hand, there are arguments that the shareholders have discrete concentration on the profitability while the responsibility can be considered as an essential part for the stakeholders. If an organisation is successful both in responsibility and profitability, then it is easy to achieve the predetermined vision and goals. It is necessary for an organisation to keep the shareholders happy as they are critical to any kind of organisation. The shareholders possess an ultimate power to direct the strategic management and planning of the company. Marshall and Ramsay(2012) haveargued that a well-informed shareholder is the best planner, visionary and evaluator of a company can ever count on. Therefore, the multinational corporations while pursuing their international business in the international markets prioritise shareholders over the stakeholders. Involving and engaging the shareholders in the feedback on the planned strategies actually help the management of the organisation. On the other hand, it is the stakeholders, who perform their assigned roles and responsibilities in perfect manner only to help the company to achieve its goal. The responsibilities of the stakeholders cannot be ignored during devising the strategy of the company as they are the heart of the company (Greenfield 2012). The stakeholders deal with every challenges during the business operations of the company, whereas, the shareholders only deal with the financial aspects of the organisation. In order to hold a stable position in the competitive market, shareholders are required, however, the duties of stakeholder cannot be overlooked. The shareholders help an organisation to stay connected with the industry financially. There are huge contradictions regarding the prioritising of shareholders and stakeholders when devising the effective strategies of an organisation. Johnston and Morrow(2014) have suggested that the employees are the backbone of the company, therefore the management should perceive potential way to satisfy the employees. Otherwise, it will directly influencethe basic execution of growth initiatives and strategic plan. If the stakeholders are not prioritised during the devising of the strategies of an organisation, then it will derail easily the fundamental growth of any establishment. Stakeholders of an organisation consist of the creditors, employees, government, suppliers, community and unions. An organisation has draws its adequate resources from the stakeholders, therefore, it is required to priories them over the shareholders, who handle the financial segments of the company.There should be appropriate and potential shareholderswith efficient knowledge and skills that can scruti nise the performance of the business strategies across environmental, ethical and social issues. Stakeholder administration is a major self-discipline that successful individuals use to win support from others. It helps them make sure that their initiatives be successful in the place others fail. Stakeholder analysis is the manner used to determine the important individuals who have to be won over. To properly identify and prioritize stakeholders the power matrix is used in a way that also helps to map the levels of power they have (De Schepper, Dooms and Haezendonck 2014). Taking Singapore Airlines as an example, a power matrix is made that shows which stakeholders, in relation to the power they hold, and its extent, would probably be interested in the organization. The grid shows the sort of relationship required by the organization to set up with each stakeholder. The key players are placed in D segment. Segment C has less interest, but their feedback is important in certain situations. Segment B has high interest, but low power of influence. Finally, segment A has low interest and less power stakeholders, who are only needed to contribute in the strategy development process for segment D. Both the stakeholder and shareholder theories are normative theories of the corporate social responsibility. Bennet al.(2016) have suggested that the normative theories clearly dictate the role of the corporation while devising the potential strategies for further development in this contemporary business world. On the other hand, the business managers and the executives think that it is important to prioritise the shareholders over the stakeholders. The stakeholder theory states that the close relationship in between the organisation and the stakeholders. The stakeholder theory suggests that the stakeholders of an organisation possess enough capability to influence the gradual success of the company in particular industry. Ali(2015) has contradicted that the stakeholder theory is solely managerial in the broad aspect. This particular theory fails to describe the existing situations of the organisation that require effective strategies. Potential strategies help an organisation to co pe up with the competitive business environment. The stakeholder theory clearly reflects the simultaneous attention, key attributes to the legitimate interests of all the suitable stakeholders of the company. The argument regarding the prioritisation of shareholders over the stakeholders when devising the strategy of the company will never come to an end. Greenfield(2014) has contradicted that most of the companies prefer shareholders during the selection of the potential strategies as they handle the most important segment of the business that is the financial condition. If the financial situation cannot be handled in proper, there will be huge downturn in the companys profit, which will damage the brand image and the market share in the market. However, it is noteworthy to mention here that, the prioritisation of the shareholders over the stakeholders of an organisation during devising of strategy varies from one organisation to another depending on their market (Stretton 2014). Even it can be determined after analysing the present business scenario of the company within a particular industry.BreadTalk, Bee Cheng Hiang and Twelve Cupcakes Private Limited are famous companies in the food and beverage industry of Singapore. These companies are known for following the right approaches while implementing apt strategies for further success of the company and the development of the existing products. The mentioned companies always prioritise the shareholders over the stakeholders while devising the strategies. The effective business strategies will help to respond to the constant changing ethical demands of the society. There are several small companies operative within the food and beverage industry of Singapore, which prioritis e the stakeholders over the shareholders. Still BreadTalk, Twelve Cupcakes Private Limited and Bee Cheng Hiang are considered as reputed companies in this specific industry only because of their implementation of ethically fair business strategies, which the small organisations in this industry hardly follow. The shareholders of Twelve Cupcake Private Limited, Bee Cheng Hiang and BreadTalk prioritise the shareholders only because to hold the best position in the food and beverage industry of Singapore. The shareholders of these companies truly handle the economic situations in great manner, therefore it is obviously important to prioritise them over the stakeholders. References Ali, T., 2015. Beyond shareholders versus stakeholders: Towards a Rawlsian concept of the firm.Research in International Business and Finance,34, pp.126-141. Benn, S., Benn, S., Abratt, R., Abratt, R., Kleyn, N. and Kleyn, N., 2016. 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