This report is aimed to understand several management perspectives of a business organisation. Section one, five and six have no organisation particularly studied.
Section two focuses on the External Analysis where the company that has been taken to study is IKEA, IKEA is a multinational furniture manufacturing and retailing company which was established in 1943 and is headquartered in Netherlands. The focuses on the society and culture of the country of operation while designing the ready-to-assemble furniture with a modern twist (Franchisor.ikea.com, 2018).
In section three the internal environments of an business organisation is studied with the help of Nokia, the company has always been the forerunner in developing new technologies for the consumers until the company did not have the expertise to deal with the Smartphone market (Surowiecki, 2013). For the last part of this section the organisation that is studied is Amazon, e-commerce giant Amazon is one of the most successful multinational e-commerce platform. The owner of the company, Jeff Bezos was awarded the title of the richest man in 2017.
The company that is analyzed in the fourth section is Royal Dutch Shell, this oil and Gas company that has been established in 1907. The organisation is the seventh largest company in the world with annual revenue of 233.6 billion USD (2016). The company has shown immense organisation strategy and management skills. The experts who served in the management of the company developed the process of Study; scenario management (Shell.com, 2018).
Question: What are Organisations
It is important to understand the context within which an organisation works because it will provide a rational explanation for the goals and objectives of the organisation. He helps in assessing the kind of management the organisation will require in order to reach its goal. It can be said that there are two kinds of organisational contexts: internal and external. Organisational context is also important to understand in order to take effective measures and to lead the organisation towards success and growth (Dulewicz& Higgs, 2005). There are several aspects of an organisation like culture, structure, performance, development etc. All these aspects are based on the organisational context therefore it is important to understand the context.
In order to achieve the goals that have been set by the owners or higher management of the organisation smaller objectives are built which helps in reaching the goal. While formulating policies and making decisions it is important to follow a strategic framework because of the following reasons:
Some of the examples of strategic framework are: stakeholders approach (Freeman&McVea, 2001) and balanced scorecard (Kaplan& Norton, 1996) etc. Depending upon the internal and external business environment strategic frameworks can be used. Section 2
A business organisation operates under two environments: internal and external. While the internal business environments are under the control of the company, the external business environments are not. These environments are factors that heavily impact the operations of the business and hence an organisation should always be aware of the changing dynamics of the factors of the business environment (Yüksel, 2012). PESTEL analysis is a tool that is used by the management of the company to formulate policies and make decisions regarding the external business environment. It gives a holistic approach to the environment from various angles which the management should consider while taking any decisions for the company. PESTLE is an acronym that stands for Political, Economic, Social, Technological, Legal and Environmental. With the help of this analytical tool business organisations can develop strategies to eliminate or at least to minimize negative effects of these factors. PESTEL analysis of an organisation can help the management understand the opportunities of the company which can help in strengthening the competitive advantage of the business and gain an edge over the competition in the market (Gupta, 2013).
In this report the PESTLE analysis of IKEA is going to be carried out:
Political: As a multinational organisation IKEA operates in more than 41 countries. The company has to keep up with the government policies and political scenario f each nation in order to carry out the business in the region smoothly. The revenue of the organisation is directly dependent on the political scenario of the market. A number of political factors such as government attitude towards the organisation, politicalstrength, the intensity of bureaucracy, level of corruption, home market lobbying and import limitations in markets etc can impact the operations of the business.
In a country which is politically instable a furniture manufacturing company have chances of running at a loss as the trade policies of the government may not be favorable and can also lead to supply chain disruption (Jonsson& Foss, 2011).
Economic: The situation of the economy in which the organisation operates impacts the chances of earning profit in the country. The condition of the world economy also impacts the business, for example: during the time of recession many companies faced several economic issues, as the purchasing power of the people had reduced and hence there was no scope for business. The economic trends in the country as well as the taxation policies of the government effect the business operation. IKEA maintains a price list of the furniture based on the idea of affordability of the target market of the country. The economic condition of a market is also an important as it directly impacts the pricing decisions taken by the company in particular country.
Social: As the company operates in a lot of countries it is important to understand the virtues and principles of the ethics in the country while conducting business operation. Previously IKEA has been under the radar for communications issue; the company has immediately recognized the mistake and has formally apologized. Social trends and culture has an impact on the purchasing habits on the people, for example furniture that is used in traditional Indian houses will not be found in a traditional Russian household. The company focuses on the preferences and choice of the target market of a region while designing the furniture in order to cater to the requirements of the customers of various regions of operation (Jonsson, 2008).
Technological: Technology has enabled business organisations to reach marvellous heights, from manufacturing to reach out to the consumers on a personal level; technology has impacted heavily on the way IKEA operates. IKEA has launched their online retail store for the customers; technology has also permitted in online payment or mobile payment facilities which facilitate the company to serve the customers better. Social media is a big promotional platform that is offered by technological advances and IKEA uses this platform to promote the brand and business.
Legal: IKEA has to follow the rules and regulations of the country of operation, before starting or expanding the business the company must analyze the trade laws, labor laws etc so that the company can maintain the operational cost to the minimum. If the rules and regulation of the country do not agree with the policies and terms of the company the organisation should not expand in the region. For example though India is a lucrative market, IKEA would need to produce at least 30% of its inventory in India as per the rules of the Indian government (Koumparoulis, 2013).
Environmental: The organisation has undertaken the Triple bottom line business model and strives for a sustainable future. The company recognizes its responsibilities towards the people and the environment and has several corporate social responsibility (CSR) activities. IKEA has focused on climate change, energy conservation as well as renewable energy source.
The organisation has developed global strategies in order to survive in the competitive international market. The design of the furniture is modern yet have traditional and cultural touch specific to the country, which popularizes the brand. Use of technology has made the process of customer service also easy for the organisation.
In order to monitor the performance of the company in the specific region IKEA must pay attention to the sales volume and the popularity of the brand among the target market (Ho, 2014).
The internal business environment is under the control of the organisation, the company can manipulate the impact of the factors of the environment in order to achieve strength and advantage over the competitors in the market. The business organisations always strive to use the opportunities and the strength of the in order to overcome the weakness and the threats. The McKinsey 7-S framework was developed by Tom Peters and Robert Waterman during the 1980s. These people worked as consultants with the McKinsey & Company consulting firm. The 7S model is an effective management tool that analyses the internal business environment factors while making policies and decisions of the company. Effectiveness and efficiency of the internal business organisation can be analyzed with the help of this framework (Singh, 2013).
The 7S in this diagnostic model refer to the seven elements or factors that are present in the internal business environment that begin with the letter of the alphabet ‘S’. In order to be successful in the business, the organisation has to align these factors. The element in his model has been divided in two sections Hard and Soft (Chong &Preece 2014).
Hard elements are: Strategy, Structure and System these factors are easier to recognize and define hence the management can directly control them.
Soft elements are difficult to analyze and understand ad define due to their nature of existence:
Nokia is a company that is going through a change and the changes can be incorporated with the help of these factors, for example: After the company has been taken over by Microsoft there is a change in the organisation structure as well as in the style of the management, to keep up with the technological advances the skills of the R&D of the company has to evolve in order to compete in the market (Singh, 2013).
In the book Competitive Advantage: Creating and Sustaining Superior Performance, Michael Porter explains the three ways in which a company can gain competitive advantage over the competition in the market. Competitors pose the biggest threat to any organisation and hence companies are in constant look out for strategies which will help the brand get an edge over the competitors. Cost leadership, differentiation and focus are the three methods that are explained by Porter (Tanwar, 2013).
|
Company |
competitive positioning strategies |
|
Costa Coffee |
The company claims to sell the best Italian coffee. They call themselves as Italian coffee masters |
|
Bang &Olufsen |
This company operates in the technology industry and targets a niche market, the company positions itself as a high-end; luxury item which adorns with elegant designs to match up with the decorations of elaborate interiors |
|
Lidl |
This German company is a chain of super market that positions itself as the best quality with the most affordable price. |
|
BMW |
This car manufacturing company positions itself as an organisation that is constantly in pursuit to outdo itself in terms of technology, quality and customer service. |
Costa Coffee fits in the differentiation segment of the porter’s generic framework, the company claims to be selling the best authentic Italian coffee, which makes it different from other competitors like Starbucks. This makes a simple product like coffee attractive and interesting as Italian coffee is considered to be high quality and best in taste the organisation uses this aspect to be highlighted as this is what makes the organisation stand out of the crowd from the competition . One of the most important aspects of undertaking such a strategy is that the company has to continuously provide the customers with high-quality product and services or else the image can be used against the company and the company may have to face bad reputation. With a strong supply chain and customer service along with a range of goodwill in the industry the company continues to maintain its position (Teeratansirikool et al. 2013).
Bang &Olufsen on the other hand uses the cost focus as the competitive advantage strategy; the company targets a niche market for gaining competitive advantage. The company used best technology, elegant designs and captivating performance. The organisation invests a lot of the revenue in the research and development department hence mainatianing the position with the catering the niche market. The company can also change target market to a younger audience in order to broader the horizon (D. Banker et al., 2014).
On the other hand, Lidl uses cost leadership strategy in order to maintain the position in the market. They claim to provide the consumers with the best grocery products at the most affordable price. The company aims to increase the market by lowering the prices of the products, while still making a reasonable profit on each sale because of the reduced costs. The company has a large turnover and a chain of stores which enables them to stock items and sell them at a low price (Wicker et al., 2015).
BMW uses the differentiation focus strategy in order to gain competitive advantage. It ensures that the product and service that they provide their customers are of the best quality and the company is continuously evolving its technology in order to meet the requirements of the customers. Providing the customers with best services is the strategy used by the company to ensure differentiation focus (D. Banker et al., 2014).
Stakeholders are people or a group of people who are directly or indirectly impacted by the operations of an organisation. Stakeholders can be segmented in two parts: internal and external. Internal stakeholders are the people who are directly involved with the operations of the business like the employees, owners and the management of the organisation. On the other hand, the external shareholders are the ones who are not directly impacted by the operations of the business like customers, shareholders, government, suppliers, creditors and the society (Varvasovszky & Brugha, 2000).
Organisations have to decide upon the priorities while developing policies and making decisions of the business, shareholder analysis helps the organisation priorities the group of the people who are the most important in the strategic management of the business. With the help of the shareholder analysis framework the company can collect information which can be analyzed to decide whose interests should be given importance when formulating and incorporating business strategies and policies (Varvasovszky & Brugha, 2000).
The organization’s owner has repeatedly emphasized on the customer centric approach that the company has towards the business operation. Jeff Bezos has mentioned that the company focuses on the need and requirement of the customers before developing a policy or taking any decisions. Over the years the organisation has come up with several e-commerce services that serve various target markets but the company remains true to the commitment they have towards the customers. Therefore it can be said that the customers are considered to the most important stakeholder of the company as all the policies and decisions are made kept in mind the need and requirement of the consumers. The board of directors consists of the owner and the high management and they are also in the key player category as they are the people who are mostly impacted with the profit or loss of the company (Olander, 2007).
In the future the company can add the employees in the key players list as the company has a good record of lower rate of employee turnover, the company ensures that the people who work for the company have their interests aligned with that of the objective of the company. The organisation focuses on the skill development and work-life balance of the employees so that the people are also on the other hand remain committed to the company.
Business environments are continuously growing complex with the changing dynamics in the industry and the market. According to Ameret al. (2013), Scenario planning encourages strategic planning and organisation that helps in minimizing the risk and overcoming the limitations of the company. There are several strategic planning and management tools that can be implemented by the management scenario planning is an instrument that has its unique feature as it considers a wide range of possibilities and provides in-depth details of the situation. Scenarios are regarded as one of the most valuable instruments at the disposal that helps to create for probable opportunities and scope for the organisation. Scenario planning is a structure process of the company to think and decide for its future.
As stated by Schoemaker et al. (2013), in the process of scenario planning facts and perception go hand in hand to develop a balance in between the two aspects in order to ensure that the future of the company is secure and progressive. The process starts with the perception of the management regarding the changes that are going to take place in the external business environment and how these changes might impact a particular issue. This helps the management to list a bunch of aspects that will be impacted heavily or uncertainly, these aspects further provides a base to the management to develop a case for the future. Economics, psychology, politics and demographics are some of the factors that play a key role in scenario planning. The aim in scenario planning is to draft the restrictions of the organisation rather than talk about all the plausible outcomes. The idea of the process is to confront the management’s perspective regarding several future narratives before defining and constructing the problemssystematically (Schoemaker et al., 2013).
Some of the advantages of the process are:
Limitations of Scenario planning:
Since the early 1970s Royal Dutch Shell has been implementing the process to predict the future of their business and the services that the company has to offer. As the organisation operates under the oil and gas industry the company has to keep up with the ever changing dynamics of the business environment, therefore the company has been popular for using this method of strategic management. Pierre Wack developed the method for the company and had been leading the scenario management division of the organisation. The process has helped the company to overcome some of the most difficult times of the oil and gas industry such as the 1973 energy crisis, the more rigorous price shock of 1979, the fall down of the oil market in 1986 etc. The oil and gas industry has always been under criticism for the impact the operations of the business have on the environment and the increasing pressure on companies to address environmental and social problems has also been dealt with the help of scenario planning strategies. Shell has a separate scenario management department where people analyze the trends of the business and develop plans for the future. The organisation has not only developed organisational strategies it has also developed many corporate social responsibility policies as well to keep up with the impact the company has on the environment and the society (Shell.com, 2018).
Thus it can be concluded form the above discussion that with the help of future prediction of the external business environmental factors and analyzing the predictions with facts, business organisations can develop strategic management plans for the future of the company. It is a process that will not only provide the company an idea regarding the future it will also help the organisation to grow and expand and work towards the goals and objectives set by the management. It is a time consuming process as the strategies require a holistic approach from the perspective of future progress as it prepares the company for uncertain situations. With the rapidly changing dynamics of the internal business market this process has gained more and more popularity among the corporate.
The ideas and concepts of quality management can be applied to any type of business organisation of all types and sizes. As stated by Jiménez-Jiménez et al., (2015), quality means in business is to have the best and improved performance. In order to maintain the quality of the organisational change, there are mainly three components to follow, quality control, quality assurance and quality improvement. In the article namedTotal quality management, corporate social responsibility and performance in the hotel industry, by Benavides-Velasco and others, they commented about Total Quality Management and Corporate Social responsibility in the hotel sector. In a hospitality organisation, Total Quality Management (TQM) is a set of practices gathered in a place throughout all the departments in order to ensure that the hospitality sector can meet the guests’ requirements. Through quality management, an organisation always tries to exceed the customers’ needs and it wants to bring a good change. TQM is one such tool or concept of quality management and it focuses on process control and measurement as it is a way of continuous improvement. TQM is associated with the primary elements like graphs, charts, tools that help the organisation to set up the programme of management quality (Goetsch& Davis, 2014). TQM has its foundation of activities like meeting the requirement of the customers, reducing the improvement of cycle times, reducing the products and service costs, line management ownership, recognition and celebration, focus on processes, specific corporation and improvement of teams. Within a hospitality sector, TQM has a few principles such as Plan, Do, Check and Act. The plan is associated with drive and direct focus on the work process, Do stage is deploying the work to participates, Check is associated with reviewing the concept and Act is the way of recognising and communicates all processes (Allen&Kilmann, 2015). Top management of the hospitality sector learns to commit to quality management process as an organisation takes TQM is one of the strategies of the organisation. The hospitality organisation assesses the culture of the workplace and it identifies the principles and core values. The hospitality sector tries to identify the demands of the customers and they also align the services to meet the demands (Oakland, 2014). TQM strives for systematic measurement and it also focuses on continuous improvement process. TQM helps to improve the team of the staffs and it helps to improve the cross-functional process of management. TQM improves, maintain and attain the standards of a workplace. In case of the hospitality organisation, it makes the relationship with suppliers’ partnership. It has a service relationship with internal customers and TQM never compromises with quality. Management of hospitality organisation first takes the commitment from the staffs and the management also focuses on quality of improvement of culture. It tries to focus on improving the co-operation process of the employees. The management of the organisation tries to focus on customers’ requirements and effective control is laid down (Acock, 2013). In addition, if the organisation has not been sceptical about improving the operating system, the management can focus on leadership system to bring change in organisational quality. TQM can improve in three major mechanisms, first one is about preventing mistakes, detection of early prevention and mistakes must not recur.
In the article of Total Quality Management and Corporate Social Responsibility, authors tried to create a relationship between these two independent variables to show the performance changes in the hotel industry. These two variables help the hospitality sector to generate the sustainable competitive advantage. This article is based on primary data gathered from 141 Spanish hotels. Quality in the hospitality sector is one of the key factors to gain the competitive advantage and it can guarantee profitability, productivity and customer loyalty. On the other side, the development of CSR poses benefits to the organisation on economic, environmental and social factors. This article mainly focuses on the impact of TQM on the stakeholders of the hospitality sector to find out the result on them, mostly based on leadership, strategy, partnership, employees, resources and services as well as products. According to Benavides-Velasco, Quintana-García&Marchante-Lara (2014), organisations try to expand the scope and decision-making process beyond the several consequences of the external and internal factors to have the sustainable wealth. This study brings out the fact that TQM and CSR are corporate strategies to increase the value of the organisation. This article discusses that the CSR and TQM have a positive impact on the quality of the organisation on two most important stakeholders’ customers and employees. Quality management does not have the direct link up with society’s satisfaction as it has a relationship with the organisation. There is a growing concern of the quality management in hospitality sector apart from mining and manufacturing sectors as it contributes the pollution and wastes. It is proved that adaptation of the TQM approach on hospitality organisation can improve the capability of the organisation to make benefits of the stakeholders.
Performance management is one of the duties of the human resource department of an organisation. The way the employees of a company perform reflects the profitability and the future success of the company. The performance of the employee depends on a lot of factors: work environment, work culture, motivation form the leaders, commitment of the employee towards the job etc. Efficiency and effectiveness of the skills of the employee drives the day to day operation of the business. Depending on the nature of the work the human resource department measures the performance based on the skills and expertise which are required to perfume the task. Based on the measurement employees are given bonuses, appraisals, promotions etc (Gerrish, 2016).
Performance management is a collective responsibility of both the employees and employers to make sure that there is constant development in the jobs and responsibilities allocated to the employees, which is essential to achieve the goals and objectives of the organisation.
It is a strategic management system which comprises of devices and instruments for effective management of organisational performance (De Waal, 2013). The HR department should have a clear way of measuring the performance, feedbacks from both the management and the employee is one of the ways companies can incorporate to measure performance. Some of the key factors of performance management that an organisation should keep in mind are the clarity, definition, quality of the procedure. The process is not only advantageous for the employers to understand the efficiency of the people it is also acts as a reality check for the employees as the result of the measurement showcases the attributes that they are strong at which they can use to overcome the aspects that they are week in (Bach, 2013).
According to the model of performance management the behavior of an individual in the work place is dependent on organisational structure and situational conditions; whereas attributes like skills and expertise build individual behavior which further leads to objective results. Performance management provides career opportunities for the employees as the promotional process also begins by calculating the efficiency of the employee. Some of the tools that are used for performance management are 360 degree feedback, benchmarking, balance score card etc.
Balanced scorecard: There are several instruments to manage and measure the performance of the employees balance scorecard is one such strategic management tool implemented by business organisations. The balance scorecard also helps in understanding and analyzing the organization’s performance towards the achievement of its strategic goals. It is a feedback tool and not a strategy or a quality framework (Nikolaou &Tsalis, 2013). This process is implemented to have several outcomes:
There are four perspective of a balanced scorecard: the financial performance of the company, to what level are the customers of the company satisfied with the product or service, internal processes( how efficient is the business in terms of using the resources) and organisational capacity (capability of the resources in terms of knowledge, innovation and allocation (Sainaghi et al., 2013).
Balance Scorecard is different to traditional performance management systems because it not only measure the performance of the employees but it provides an holistic approach towards measurement and balance of the operations of the business with the help of other tools like six sigma and lean production etc. It provides a balance in between how the organisation perceives itself and how the other stakeholder of the company perceives it. It offers a balance in between the expectation and the experience (Hoque, 2014).
Conclusion:
It can be thus concluded from the above discussion is that an organisation is basically a conglomeration of a group of people who have the same goal. An organisation does not necessarily have to be a business enterprise it can be any group of having the same goals and objectives. Furthermore in the assignment, the business environments in which any business organisation operates is discussed in the section two and three, the PESTEL analysis helps the company to understand the dynamics of the external business environment, this is essential as they impact the organisation operation and the rate of change in these factors are also not under the control of the company. In the third section to understand the impact and the importance of the internal environment, McKinsey 7S model is analysed, it highlights the importance of having all the internal factors aligned with one another in order to attain success. This model unifies all the factors and elaborates and emphasises on collective importance on each of these factors that make up the internal environment. The Porter’s generic strategy is used to understand how the companies can used their internal resources in order to gain competitive advantage as competition is one of the major threats of an organisation. There are three ways described by porter with the help of which an organisation can strive to gain an edge over the competitions. Lastly as internal analysis stakeholders are studied in order understand the priorities of a company. The fourth section deals with strategic planning and the model that is analysed is scenario planning which uses facts and predictions to strategies for the future. Total quality management is discussed in the fifth section; it is a holistic approach of continuous improvement of various sections of the business operation. Lastly performance management is the process by which a company can assess the effectiveness and the efficiency of the resources, balance scorecard is a tool that is used in the process but it has a more holistic approach than any other performance management tool.
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First, you will need to complete an order form. It's not difficult but, in case there is anything you find not to be clear, you may always call us so that we can guide you through it. On the order form, you will need to include some basic information concerning your order: subject, topic, number of pages, etc. We also encourage our clients to upload any relevant information or sources that will help.
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Once we have all the information and instructions that we need, we select the most suitable writer for your assignment. While everything seems to be clear, the writer, who has complete knowledge of the subject, may need clarification from you. It is at that point that you would receive a call or email from us.
Writer’s assignment
As soon as the writer has finished, it will be delivered both to the website and to your email address so that you will not miss it. If your deadline is close at hand, we will place a call to you to make sure that you receive the paper on time.
Completing the order and download