Functional Areas of a Business Introduction My focus on this assignment is RPZ Marketing company that offers marketing consultancy. The company’s primary goal is to be a one-stop-shop for its clients’ marketing needs. A business needs to have different parts to perform and control its functions. Separating business operations into functional areas allows each to function within its area of expertise which builds efficiency and effectiveness across the business as a whole (Benstead, 2019). The three functional areas that I believe are essential to the organizational structure of the RPZ Marketing company are Human Resources, Information Technology, and Finance and Accounting. Human Resources Employees are the greatest resource of a company, and for a business to succeed, it is essential to look after its employees. Human resources functions manage and develop employees in an organization. The Human Resources has transitioned over time from just hiring, firing, and annual pay review to playing a significant role in developing a positive business culture and improving employee engagement and productivity (Benstead, 2019). HR is very instrumental in the overall success of a business.…
Qualitative Analysis for Chandler Corporation Chandler’s products are custom engineered and made for every location. The outcomes present a variety for the customers to choose from depending on the style of frame desired to create a natural look. The quantitative analysis depicts various elements that the organization can use when deciding on the new products as the information can get used by the management for the success of the company. The various elements in the computation are essential for manufacturing decisions. From the predetermined overhead rate that can help the company to apply the manufacturing overhead to products or job orders (Chiang, 2013). The values can help the organization determine the number of units required for manufacturing and the cost of every unit, as well as the overall expenses that is beneficial as it helps the firm set the resources needed to execute planning. The planning process is crucial in management and an essential element of success. The computation will help the management allocate a given amount of manufacturing overhead to every direct labor or machine hour. Chandler will thus…
American multinational e-commerce corporation Background eBay Inc, an American multinational e-commerce corporation founded by Pierre Omidyar in 1995; by 2006, eBay had expanded into 35 global markets across North and Latin America, Europe and the Asia Pacific (Lu & Tao, 2007). The first-time eBay entered in the Customer to Customer (“C2C”) market of mainland China was in 2002, by acquiring 33% interest in EachNet Inc(Lu & Tao, 2007). As the new C2C business in China, eBay had the first-mover advantages and had captured most of the market share at first. In May 2003, TaoBao was launched by Alibaba Group as a response to the first move by eBay. EachNet was China’s first online auction website and had acquired more than 50% of the market share, becoming the only significant player in the online auction market in China (Lu& Tao, 2007). Through acquiring EachNet, eBay had a greater chance to become the largest e-commerce company in China. But eBay failed in the market of China to compete with TaoBao. eBay has steadily been lagging behind TaoBao since TaoBao being founded,…
Case Study (Five Arrows Company) Five Arrows Company has an immense wealth of experience in the manufacture of tires as it has been the leading pioneer in its areas of activity since its establishment in 1964. The company now has a large market sector, and many of its customers prefer its products. However, there are many competitors trying to capture part of the company’s customers. Therefore, toto maintain its market sector, the company has decided to adopt several strategies in terms of its various production, marketing,, and financial operations. The procurement process was also an essential essential aspect of the company’s focus on reducing costs. The company has recently decided to try a new raw material that can be used as an alternative to the existing raw material as it is expected that the new material can raise the quality rates, which increases the life of the tires of the company. If you are a purchasing manager, how do you deal with the following situations: Explain the mechanism of purchase demand (where the procedures start and the…
Management Information System MIS 201 Case Study 3: Driving Ari Fleet Management with Real-Time Analytics Why was data management so problematic at ARI? The company managed data for over a million vehicles in the US, Canada, Mexico, Puerto Rico, and Europe, which was overwhelming. This included the management of an entire life cycle and the operations of a large number of vehicles for its clients and data collection on fuel management, repairs, maintenance, financing, and the management of risks for all the customers. ARI also maintained data for six of its call centers in North America, which operated throughout the year. It provided assistance regarding accident response, repairs, preventative measures, and other driver needs. Additionally, to provide reports to internal users, it took ARI approximately 5days to compile the report, and if the report weren’t satisfactory, it would have to be recompiled. With the considerable amount of data that ARI was handling for customers and the company itself, it became almost impossible for the company to do business as usual in terms of data management. Describe ARI’s earlier capabilities for…
Ideal Points a Packaging Design Company Considers|Guidelines That a Packaging Design Company Considers|Factors That a Packaging Design Company Considers {In the market before a customer buys a design, they look at the how the product has been designed and for this case how it has been branded packed and how presentable it is.|Before a customer buys a design in the market they always look at how the product has been designed and for this case how the product has been branded and how presentable it is.|Among the things that a potential customer looks at while they are in the market before they buy a design of a certain product is how the product has been branded and how presentable the product is.} {A well designed product influences the customer and for this case, they will buy it.|A potential customer will only buy the product if they are influenced by design and are attracted by it.|To attract a potential customer the product has to be well designed to the extent that it is so attractive for a buyer to leave…
Creating clothing from recycled materials The fashion industry is one of the most important industries in the world. Every day, new innovations are introduced in the highly competitive industry. In business, it is important to stand out from your competitors. This is only possible if you develop unique products that meet the specific needs of customers. This is because the ability and willingness of a consumer to purchase a product are determined by many factors, including the quality of the product and price of the product (Hodgetts and Donald, 200). However, as an entrepreneur, you should be able to meet the needs of the consumer while at the same time fulfilling your corporate responsibility roles. It is with these ideas in mind that I believe that creating clothing from recycled materials is a viable business idea. From my estimations on the possible retailing prices of various products, it is evident that the price will be much lower compared to other brands. In addition, by recycling plastic waste materials for the creation of clothes, I will be fulfilling my corporate…
Types of Wells in the Oil & Gas Industry Fiber optic cables play vital roles in the oil & gas industry, including detecting and predicting oil & gas leakages. In gas wells, fiber optics can help quantify flow rates from a few barrels per day up to millions of Standard Cubic Foot (SCF) gas. Fiber optic cables in the oil & gas industry have broader applications in monitoring temperature and reservoir levels and transmitting data in real-time, among other uses.a Types of Wells in the Oil & Gas Industry According to Petro Industry News, oil wells fall into three different categories, i.e., oil wells that produce only oil, gas wells that exclusively produce gas, and oil & gas wells that produce both gas and oil. Alternatively, oil & gas wells are identified based on their location, i.e., those found onshore and those found offshore. Oil Wells Oil wells primarily consist of a wellbore and a casing. The wellbore is the hole that is drilled into the crust to establish the well. On the other hand, the casing features “telescope-like layers…
importance of sharing knowledge among employees Babalola and Omotayo, in their article, emphasize the importance of sharing knowledge among employees. The article suggests it is important to share knowledge and information on a wide range of items and issues among employees. At the organizational level, many issues and matters affect employees, and thus, sharing of information can help to increase knowledge and improve productivity (Babalola & Omotayo 2017). However, many employers and managements deny employees the right to share information, particularly those relating to salary and compensations. From the video, the speaker suggests that employers tend to conceal a lot of information such as those relating to wages thus, hindering effective sharing of knowledge among the employees. Nevertheless, this article supports the employee’s side by advocating for effective knowledge sharing in organizations and firms. The authors add that sharing of information and other work-related matters is associated with many benefits, such as being socially and economically fit among the employees. Article 2 Bakshi and Singh form another duo of scholars who analyze issues that pertain to the welfare of the…
Marketing Case Study for Callaway Golf Company Key Issues the Company was Facing Ely Callaway started the company in 1982, although the original name of the company was Hickory Stick U.S.A Inc. (Perry, 1992). The company then grew by great strides through diversifying its range of products and improving their designs. However, the sales dropped in 1998 by 17%, translating into a $27 million loss despite the company coming up with innovative products such as the Big Berthas (Callaway Golf Company). The consumers did indeed prefer the Big Berthas as they were easier to work with competitors soon started producing similar products giving consumers a range of brands to choose from (Perry, 1992). In 1996, the Biggest Big Bertha Titanium Driver and the Great Big Bertha Tungsten Titanium Iron were introduced for $500 and $600, respectively. Considering that the target market was the average player, these prices were quite high. Consumers failed to perceive the advantages of higher-priced products. Some salespeople in retail stores did not have information concerning the benefits of the pricy CGC over other products in the store.…