CEO MANAGEMENT STYLES FOR STRATEGIC DECISION MAKING Describe McNerney’s management style in terms of strengths and weaknesses. Would you like to work for him? According to Arndt (2004), McNerney, the CEO of 3M Corp Company, was identified as ‘one of those boys’ in his article. One of the strengths that McNerney had is that he could find new methodologies to restore discipline and focus within the company. Also, he knew what to embark on when under anxiety and establish something useful out of an unfortunate circumstance. Arndt (2004) indicates that the first time McNerney took over as the CEO, the revenues were over 35%. Generally, McNerney had many strengths in comparison to weaknesses. Some of the flaws he had included, firstly, he ever reflected ahead of everybody within the corporation. Secondly, he had a sharp mind full of alternatives and always anticipated the best long term for the corporation. Several individuals perceive the weakness to be advantageous. In this presented case, it worked perfectly for McNerny, hence making him prosper. However, several individuals do not prefer change, and they always…
Situational Marketing Analysis Report of the Coca-Cola Company Executive Summary The Coca-Cola Company is a beverage company that is world-renowned. Almost 2 billion products are consumed every day. Analysis of strengths; weaknesses, opportunities, and threats (SWOT) of the CompanyCompany, assessing its external environment are well developed to ascertain its competitiveness in the US market. Using Porter’s Five Forces, we will determine additional external environment qualities are pairing it with the functional approach to conduct an internal analysis of The Coca-Cola Company as well. Upon completion of our overall review, an argument will be made to discuss whether the CompanyCompany has any sustainable competitive advantages. Coca-Cola is a company that is known internationally, being sold in over 200 nations. This analysis will detail how they have reached success and how they can stay at the pinnacle of their market. Introduction Worldwide advertising is “promoting on an overall scale accommodating or exploiting worldwide operational contrasts, similitudes and openings so as to meet worldwide objectives”. Global advertising is additionally a field of study as a rule business the executives that intend to showcase…
Advantages of Marketing in Business The profitability of businesses depends on their ability to meet the main objectives. The main objective of many businesses is to get as many consumers as possible in the market to increase the number of sales and ratings for the company. The managers hence go through a lot of strategic plans to gain this advantage, including marketing. Marketing refers to the process whereby a business undertakes many activities to promote the buying or selling of their products or services. This process takes place through advertisements, selling and delivering the product or services to the destinations that they are required successfully. This process hence facilitates the main objective of the business buy the means of creating awareness and influencing the customer’s decision on buying the products and services on sale. Companies like Apple, Colgate, and Boeing are able to operate globally due to this process. The ways through which marketing function benefits the organization are discussed extensively in this paper. The creativity that is emulated in the entire marketing procedure is crucial in the determination…
Significant sustainable development issues impacting the business sector: Poverty Executive summary The world economy has been tremendously challenged by poverty. The business is not an exception. This paper is focusing on the impact of poverty on business. It covers the introduction, a brief understanding of poverty, and how it has impacted on businesses. The evolution of poverty in society is also elaborated. Poverty has interfered with the smooth running of the business, and this has been described as one of the key elements influencing business sustainability. Finally, the paper discusses how business is coping with poverty in contemporary society. Introduction to poverty There are so many economic challenges in the contemporary world today, and one of the critical economic even in the 21st century is poverty. Research shows that it has stood to be the leading financial challenge for many people. As the main economic challenge, it has influence in all diverse aspects of life that is social life, spiritual life, political elements, and interestingly, it has impacted the economy, thus, in the business set-up (Mbuyisa & Leonard, 2017). In…
Case Study: Al Rajhi Banking & Investment Corporation Introduction The use of efficient strategies for advancing, rewarding, attracting, as well as retaining employees is at the core of human resource management. In essence, efficient human resource management is beneficial for employees themselves and organization sustainability. This report focuses on the banking and financial industry, with a discussion on employee motivation. Al Rajhi Banking & Investment Corporation Brief Description Al Rajhi Bank ranks as one of the major Islamic banking institutions, operating in the Kingdom of Saudi Arabia, and other middle east nations, starting operations in 1957 (Al Rajhi Bank, 2020). As of May 2019, the organization had a $ 49.7 B market capitalization, making $ 4.8 billion in sales and relied on a workforce of 13,532 employees to maintain its operations (Stoller, 2018). Forbes Magazine ranked the company #487, among its “World’s Best Employers 2019”, a measure helpful to gauge its employee policies. Currently, the company has grown its network, with branches reaching over 500, over 118 specialized branches for ladies. Procedure/Policy Description Motivation is an essential aspect of human…
D.1 marketing strategy Saudi Aramco segments its markets based on physical location. The segmentation is evidenced by factors such as the company’s affiliates from various parts of the world and its exportation of petroleum and other products to many countries of the world (Aramco, 2017). Those factors, among others, make Saudi Aramco a multinational company. The organization uses continents and countries as its basis for geographical segmentation (Aramco, 2017). That strategy enables the organization to identify the places in which the company can increase its investments and those that it should reduce. Saudi Aramco also uses the “Positive” market segmentation strategy. The approach involves the identification of the needs of various populations and classifying those with similar needs into the same group (Aramco, 2017). The approach is appropriate for Saudi Aramco sells different products in addition to petroleum. That strategy enables the organization to know how it should relate to different customers depending on their needs. Saudi Aramco also understands the areas that need improvement. Saudi Aramco uses innovation as the leading way to cater to its market segments. The…
Causes of Conflict Between People Conflict is the incompatibility of values between various parties involved in a particular relationship. The scuffle may arise due to antagonism or mere attempt to control one another. Conflict is a common occurrence in all kinds of human relationships formed in either social or work settings. Conflict occurs due to the varied personalities associated with different. However, despite conflict being depicted as evil, the absence of it illustrates potential social problems or thereof lack of any meaningful relationships. Due to this, many disputes have been attributed to financial, value and power dynamic causes. Therefore, this article shall discuss how the difference in values, financial situations and power dynamics causes conflict between people. One of the significant causes of conflict between people is finances. Both the availability and lack of financial power is a substantial source of quarrels between two or more people. Money and other assets are the leading causes of these conflicts. Kaittila (2016) argued that people living in an intimate relationship might have disagreements due to economic pressure. The financial burden may come…
The baking and pastry industry INTRODUCTION The baking and pastry industry is one of the fastest-growing sectors. Nowadays, leading chefs consider baked and pastry products as not only a complement to the dishes served but also a fundamental aspect of innovation offerings. The industry provides a wide range of products which include bread, cakes, crackers, cookies, biscuits as well as other wheat products. The baking and pastry industry is sweeping the market with the adoption of new trends and innovations. Over the years, the underlying trends in the industry have been based on health, convenience and pleasure. The trends have, over time, influenced product innovation in bread and other baked and pastry products. Research Question: What are some of the trends and innovations in baking and pastry? Thesis statement: The baking and pastry industry continues to be revolutionized by the latest trends and innovations, which are based on health, pleasure and convenience. Health is a significant driver of innovations in the industry. Additionally, new products have been developed for more pleasure and convenience. Moreover, sustainability has been deeply embraced in…
Police and Community Assignment 8 List the Principles of Analysis Set Forth in the Textbook Analysis is the second step of the four-stage problem-solving tool known as SARA, and it is guided by several principles. The first principle states that “Analysis is based on a common sense” (Peak & Glensor, 2012, p. 93). This principle appreciates that good analysis is based on the utilization of research methods and statistical analysis approaches that are not common in day-to-day operations of law enforcement agencies. However, the process of analysis is more heavily reliant on the experience of the police officers when it comes to determining various aspects about the victims, offenders, locations, and offenses (Peak & Glensor, 2012, p. 93). Most of the times, a police officer uses his or her experience and common sense for analysis purpose when dealing with a certain community or neighborhood. The second principle of analysis states that “There is no one way to do analysis” (Peak & Glensor, 2012, p. 93). This means that there is no specific way that must be followed in conducting analysis.…
Maintaining Organization Workforce Competition in the modern world has led organizations to employ qualified personnel so that the organization can produce quality services and products to help compete in the market. Change in technology has led to companies outlaying some of the workers since some tasks require no personnel, and the technology can handle them, such as record keeping. Gore states that a reduced workforce in institutions results in various challenges to both the organization and the person. Reduction in workforce results in overworking some of the employees since they will have to perform the tasks that were being carried out by the personnel laid off. The organization may feel the impact on production since the production relies on the number of staff (Gore, 2017). Organizations can address the issue of reducing the workforce by adopting other credible measures to reduce the organizations spending budget, such as; cutting extra costs. The organizations can cut on the additional cost to reduce overspending; this will help the organization maintain the workforce and maintain the normal operations. Cutting off more packages, organizations give…