Review of Literature on Employ Satisfaction

Attention: Nadeem Yousaf Students:Noreen OrcineP12094955 Robert Ngu P11015920 Federico ColomboP12094924 Prakash Regmi P12094665 Sanjay Maharjan P12085525 Dewan Rahman P12094756 Philippe Colas P12094742 Course name: MSc. International Business and Management – 2013 Module name:Operations and Human Resource Management (Evening Class) Module Code:CORP 5041 Assignment: Group Critical Analysis Project Theme: Key factors of employee satisfaction and its impacts to company success.Word Count: 2917 words Articles Reviewed: The Impact of Age and Education on the Level of Satisfaction and Motivation Among Employees Employee satisfaction, intrapreneurship and firm growth: a model Job satisfaction and quality management: an empirical analysis Job Satisfaction in Public Sector and Private Sector and Private Sector: A Comparison The effects of commitment to corporate vision on employee satisfaction with their organization Implementing Quality Management Practices without Sacrificing Employe e SatisfactionThe relationship Between Pay satisfaction & Job Satisfaction Table of Contents 1. 0 Introduction3 2. 0 Stimuli of Employee Satisfactions and Impact3 2. 1 Effects of Commitment to Corporate Vision on Employee Satisfaction4 2. 2 Pay Satisfaction and Job Satisfaction5 2. 3 Impacts of Age and Level of Education in Employee Satisfaction5 2. 4 Intrapreneurship and Firm Growth as a Factor of Job Satisfaction6 2. 5 Relationship between Quality Management and Job Satisfaction7 2. 6 Comparison of employee satisfaction between Public and Private Sectors8 . 0 Comparison, contradiction and Evaluation9 4. 0 Conclusion13 5. 0 References15 APPENDIX 119 1. 0 Introduction It is widely accepted that the employees’ job satisfaction is one of the most important elements of achieving success for an organization. In today’s organization, where company leadership is transforming from traditional styles to more collaborative style (Christensen, 2009), employee satisfaction is bei ng given due consideration based on the concept of happy people brings happy customers and growth (Blanchard, 2004).Though De Menezes (2012) found that the job satisfaction among employees have a clear and consistent connection to company's productivity, but Schein (1995) believes management has over time pondered on best practices that increases productivity and with numerous theories, espoused on the significance of people in organization, very few managers recognize employees as capital investment not as a cost to be controlled and minimized. In this paper many influencing factors of employee satisfaction will be analyzed combined with their affects to organizational success. . 0 Stimuli of Employee Satisfactions and Impact There are many factors that somehow intrinsically and extrinsically keep engagement in the process of employees’ job satisfaction. Herzberg’s Motivator-Hygiene theory identifies satisfiers or motivator factors as achievement, recognition, work it self, responsibility, advancement and growth, on the other hand, dissatisfiers or hygiene factors as company policy, supervision, working conditions, interpersonal relationship at work, salary and benefits, and job security (Gitman et al 2008).Moreover, according to Lavigna (2010) ; De Menezes (2012) factors such as commitment to corporate vision, leadership, work life balance, training and education, participatory management and employee empowerment strongly contribute to employee satisfaction. This literature will be investigating and analyzing the factors such as age, level of education, intrapreneurship, pay satisfaction, quality management, commitment to corporate vision and aspect of public and private sectors. 2. Effects of Commitment to Corporate Vision on Employee Satisfaction The mission and vision statement of a company gives a sense of purpose, values, and behavioral standards; and increases employees’ focus on organizational strategy and direction (Slack et. al, 2010). While ascertaining employee satisfaction, companies need to show commitment by being effective, and show continuance commitment by encouraging workers to be attached emotionally to company’s values (Allen et al. , 1997).And to measure satisfaction in an organization, management commitment to achieving results motivates employees to perform better, according to Slack et al. (2010), henceforth commitment of organizations and employee satisfaction have a positive relationship with promise. There are two strong connections with employee satisfaction relating to employee rating of the company based on how committed it is to its philosophy of caring, sharing, trust and respect; and the ability of the company to compete with others. This was supported by Meglino et al. (1998) by stating that the relationship between effective communication, worker satisfaction and the level in which values and views of employees corresponds with each other creates an atmosphere of understandi ng a corporation that leads to improved performance and productivity among satisfied employees. 2. 2 Pay Satisfaction and Job Satisfaction Different people have different views on the source of their motivation to work. Here we find different contradictory results while one study suggests level of income increases the level of satisfaction and the other study finds no satisfactory correlations or different view of income’s importance.Some find job as a source of identity, but sometimes money actually is the commonly cited reason (Hulin, 2002 cited in Judge, et al. , 2010). Money cannot ensure the subjective well-being or happiness as finding shows that a lottery winner is no happier than before they won the lottery (Brickman, et al. , 1978 cited in Judge, et al. , (2010). Contradictorily, another report suggests that the richest Americans are happier than average ones (Cummins, 2000; Diener et al. , 1985 as cited in Judge et al. , 2010) and average Americans are happier than poor Americans.Overall it is assumed that, pay level is positively but not significantly correlated with both pay satisfaction and job satisfactions. 2. 3 Impacts of Age and Level of Education in Employee Satisfaction Satisfaction expresses the level of agreements between the expectations of a worker from his job and the reward that the job provides (Paul, 2012). Now, how does a factor like age affect the level of employee satisfaction? Kristin et al. (2004) cited in Paul (2012) found that the overall job satisfaction decreases after the age of 45;  perceptions of management fairness and problem resolution also decrease with age.It is generally believed that job satisfaction increases linearly with age (Clark et al, 1996). Paul (2012) discovered that age influences the level of motivation among employees, for instance, younger employees felt more motivated to extra work, while older employees were less eager to do so. Level of education is also one of the factors that can power th e way employee satisfaction is perceived. Paul (2012) stated that the level of motivation also varies with the educational qualification of the employees; for example, employees who have only matriculated were the most motivated about ork and taking extra work, on the other hand the most qualified employees of the organization were the most unwilling to take extra work, in comparison to the less educated ones. This finding is enriched by Metle (2001) and said that the job satisfaction declines with increasing levels of education. 2. 4 Intrapreneurship and Firm Growth as a Factor of Job Satisfaction Entrepreneurs within the organization are, in fact, the valuable assets in terms of company’s growth; and there is a direct relationship between intrapreneurship and job satisfaction in the context of productivity and growth, according to Antoncic et al. 2012), when key factors such as the level of employees general satisfaction with work, employee relationships, employee remunerat ions, benefits and organizational culture and employee loyalty are put to play together. An organization whose values and interest corresponds to that of employees needs, generally has a high employee satisfaction rate as reflected in the attraction selection attrition model (ASA); which states that, â€Å"people in an organization are unique in that they are the ones attracted to, chosen by, and who choose to remain with an organization† (Lievens et al. 1995).Employees of such caliber are a true competitive advantage of the company (Antoncic et al. , 2011). Intrapreneurs are considered to be entrepreneurs in an organization. It is the outcome of firms pursuing new opportunities through a gradual departure from the customary by encouraging employees to be innovative. To show how employee satisfaction result in growth, Shaw et al. (1998) as cited in Antoncic et al. (2011) examined practices where management instills the possibility of education and training, adequate pay, bene fits, encourage high level of motivation, and the willingness of employees to invest in their own knowledge and skills.This results to employee satisfactions that in turn increases performance, and contributes to company growth; therefore, job satisfaction and performance are strongly related as they both result to growth of the company (Antoncic et al. , 2011). 2. 5 Relationship between Quality Management and Job Satisfaction Employee satisfaction and quality management are thought to be correlated to some extent. Previous research studies on employee job satisfaction have ndeavored to find link between quality management and job satisfaction; for instance, Akdere (2009) cited in De Menezes (2012) found that customer satisfaction, which is the ultimate goal of quality management, is strongly associated with employee job satisfaction. Though number of research have been carried out in past to find this relationship yet there are mixed results. According to Guimareas (1996) cited in Mehra et al (2011), implementing a Total Quality Management program resulted in high job satisfaction, more job involvement, large organizational commitment and increased desire to stay in the firm.On the other hand, there are some other important aspects of quality management like cost reduction and increased productivity that can stress up employee and consequently might bring dissatisfaction to work. This argument was supported by Green (2006), Landsbergis et al. (1999) and Parker (2003) as cited in De Menezes (2012); and they said, â€Å"Performance gains may be achieved at the expense of employee well-being†. Moreover, Kivimaki et al (1997) cited in Mehra et al (2011) has also said that adopting Total Quality Management in an organization leads to decreased job satisfaction.Therefore, the total quality management of an organization can actually sometimes become the reason for not supporting employees to enjoy their work, however, Total Quality Management can be achieved in an organization without achieving complete employee satisfaction, for example, De Menezes (2012) found that there is no positive association between quality management and employee job satisfaction in many British workplaces in 2004.Total Quality Management is a management philosophy not a short term program or intervention skim that can be applied to organization across industries, cultures and nations but there should also be adjustment in Total Quality Management according to the structure of firms, strategy and environmental conditions to ensure that the employees are satisfied (Rungtusanatham et al, 2005 as cited in Mehra et al 2011). 2. 6 Comparison of employee satisfaction between Public and Private SectorsPublic and private sectors provide scopes in different ways, making it difficult to be pro or against the two very different administration forms. The Public sector is said to be more divided than organized due to the various sub divisions included in the operation of th e public sector and this division creates a problem in the long run; in contrast the Private Sector is also divided, yet it is divided into departments, which work closely with each other and have a coherent working structure (Kumari et al. 2011). Overall it can be said that while the the public sector has maintained the existing as well as the creation of new jobs throughout a recession, as the private sector significantly has significantly been cutting jobs since the dawn of the 2008 recession (Zuckerman, 2011). So, it can be understood that the Public sector jobs are generally more stable compared to the private sector, and this factor contributes to both positive and negative perceived job satisfaction in these two sectors.There are also different motivational reasons behind the employees’ choice of sector in which he or she wishes to work, and there are different expectations to be met by each sector in order to insure the employees’ ultimate job satisfaction. For example, Kumari et al. (2011) found that socio-economic and cultural structures of a country essentially lead citizen’s perception of job satisfaction in both public and private sectors. 3. 0 Comparison, contradiction and EvaluationMany studies previously done by several researchers found that the satisfaction among employees has clear and consistent connection to the company’s productivity and eventually the success of an organization largely depends on employee satisfaction (Hsu and Wang, 2008; Culbertson, 2009; and Korunka et al, 2003 as cited in De Menezes, 2012). In addition to that, Gregory (2011) has also identified that employee satisfaction is essential to the success of any business.For example, American budget airlines South-west Airlines, one of the most consistently successful airlines in the history of aviation, implies that employee satisfaction is one of the key components of its past, present, and future success (Cardy et al 2011). Although, many acad emics have found a correlation between employee satisfaction and organizational performance, there has been an opposition to this view and that has called for an extensive study, as employee satisfaction has little or no influence in the performance of an organization in certain industries.For example Ryanair, an European budget airlines, made financial gains without giving much attention to its employee; ‘‘the high employee turnover at Ryanair points to the dissatisfaction that the employees are experiencing and the common complaints of employees leaving Ryanair is the oppressive work environment and practices, low pay and the lack of training and development programs for employees’’ (Thinking Bookworm, 2012). This argument was appreciated by Mathieu et al (1990) as cited in Yee et al. (2008), where it was said that the employee satisfaction has little direct influence on business performance in most instances.From the perspective of strategic operations m anagement, Fisher at al. (1992) cited in Yee at al (2008) stated that employee satisfaction is not achieved without a cost, in a view of that fact, reducing expenses on employees is a viable choice for achieving operation efficiency. As reflected by De Menezes (2012), in which he ascertains that some aspect of total quality management such as cost reduction and increased productivity can stress up employee and consequently might bring dissatisfaction to work. This would mean that employee satisfaction and operation efficiency are inversely correlated.However, Mehra and Ranganathan (2011) suggest that implementing total quality management can have positive affect in job satisfaction if components like employee empowerment, teamwork, top management commitment can be developed within the organization. In the public sector, however, training and personal development was found to be the most important factor on employee satisfaction as training of workforce provides various benefits to o rganizations such as fewer production errors, increased productivity, decreased turnover and improved safety (Turkyilmaz, 2011).So it is true that, investment on employees’ training can also be fruitful to operation efficiency. When it is about the pay satisfaction it is said that high pay does not always lead to job satisfaction. Mondrow (2011), states that, pay may help to determine if an applicant accepts a job offer, but salary has little effect on one's job satisfaction. An individual can be satisfied with the amount of pay he/she is receiving but intrinsic rewards and culture-fit have been found to be better predictors of job satisfaction.Pay will not motivate employees and human resource professionals need to ensure that managers comprehend this. High level of pay does not ensure the happiness or satisfaction among employees as job satisfaction focus rather on culture and reward systems (Mondrow, 2011). To compare with Facebook, Google has paid lower wages to its emplo yees but providing vast benefits had caused employees to accept reduction on their wages because it provides them job satisfaction fostering by company culture whereas Facebook is found with less employees’ satisfaction though the level of pay is slightly higher (Huffingpost 2012).However, Pelit et al. , (2011) has said that though the unfair pay can be a negative aspect of employee satisfaction but correlation and regression analyses indicate that psychological and behavioral empowerment has a significant effect on job satisfaction, and the effect is much greater when psychological and behavioral empowerment are taken as a whole. To prove the importance of empowerment in the company’s success Eesley et al. 2006) has said that intrapreneurship is the practice of creating new business products and opportunities in an organization through proactive empowerment; and intrapreneurship is propelled by an individual's or a team's willingness to take calculated risks and act t o create business opportunities that serve an organization's needs for growth and improvement.The development of entrepreneurial activities and orientations in the organization are principally persuaded with the elements of employee satisfaction like general satisfaction with work; employee relationships; remuneration, benefits and organizational culture; and employee loyalty (Antoncic et al. , 2011). According to De Meneze (2012) it is anticipated that organizations where the work force is more satisfied will show higher levels of commitment to corporate vision, less absenteeism and a productive work force.On the other hand, in an interview (Appendix 1) Andersen said, â€Å"I don’t necessarily need a satisfied work force, because satisfied work force is just sitting and waiting around, and eventually they’ll be leaving. Here I want somebody who is hungry, eager, jumps out of the bed in the morning and rush to work to do a good job. † So in practical situations, organizations are not really pleased in having just satisfied employees, they’re akin to employees showing eagerness and desire to come to work for success.Earlier studies by Brown et al (1993) cited in Yee et al (2008) have also found that there is no clear relationship between employees’ satisfaction and performance. However, it is reasonable to think that in certain industries, where there is direct contact with customers, the relation of employee satisfaction to company’s success can be higher (Yee at al. 2008). For instance, studies by Wan (2006) in the U. S. forest products industry have shown that there were differences in job satisfaction of the employees across the different levels of income, occupation and age.Moreover, education and gender had no significant effects on job satisfaction. No evidence was found that higher levels of education were related to higher job satisfaction. 4. 0 Conclusion The correlation between employee satisfaction and diffe rent factors like age group and education level, entrepreneurship, quality management, public and private sector, corporate vision and pay satisfaction has been analyzed to evaluate the effect of job satisfaction in company’s success.Based on the research findings it is clear that there is positive affects in job satisfaction but it can be highly influenced by certain aspects like top management commitment, leadership style, motivation factors, organizational culture and external environment. Likewise, this literature found that employee satisfaction has shown to be a key success factor to most organizations. It is well documented that the more satisfied employees are, the more motivated they feel to perform at work, and ultimately reach company’s goals leading to corporate success.Motivational factors such as recognition of work, opportunity for advancement, professional growth and responsibility will remain the guiding principles of any firm that aims to achieve a pe rsonal growth and stability. However, it is still doubtful how relevant employee satisfaction is to bring success in certain circumstances or industries. Also, private and public sectors showed considerable differences in the level of overall job satisfaction that they derived from the facets of their jobs like motivational factors; working conditions; promotional opportunities; relationship with co-workers and job security.Some researchers have found that the correlation between employee satisfaction and an organizational performance do not always go hand in hand. As economies around the world encounter uncertainty in global markets and companies try to find different ways to reduce cost, which in many cases have resulted in the reduction of the work force. This has resulted dissatisfaction among the employees in various level. Nevertheless, this generation of unsatisfied employees has not yet shown clear repercussions in organization success.Although this topic can be controversia l, which generalize the scope of further research to understand how satisfied employees could lead to business success, and comprehend how different factors have higher influence on employee satisfaction. 5. 0 References Allen, N. J. , ; Meyer, J. P. (1997). Commitment in the Workplace: Theory, Research and Applications. Thousand Oaks, CA: Sage Antoncic J. A, Antoncic, B. (2011) Employee Satisfaction, Intrapreneurship and Firm Growth; A Model. Industrial Management and Data System, Vol. 111 (4), p. 589-607 Blanchard, O. 2004) Happy Employees=Happy Customers, The Brand Builder Blog [Blog] 13 October 2005. Available at http://thebrandbuilder. blogspot. dk/2005/10/happy-employees-happy-customers. html [Accessed on 17th March 2013] Cardy, R. L. and Leonard, B. (2011) Performance Management: Concepts, Skills, and Exercises. Second Edition. New York: M. E. Sharpe, Inc. Christensen, T. W. , 2009. Crisis leadership: A study of Leadership Practice, Capella University. Clark, A, Oswald, A, an d Warr, P. (1996) is job satisfaction U-shaped in age? [Online] Available at http://iweb. swufe. edu. cn/jiarui/Management_Resources/ [Accessed on 13th March 2013]De Menezes, L. M. (2012) Job satisfaction and quality management: an empirical analysis. International Journal of Operations ; Production Management, 32(3), pp. 308-328. Eesley, D. T. and Longenecker, C. O. (2006). Gateways to Intrapreneurship. Industrial Management,  48(1), pp. 18-23,5. Gitman, L. J. ; McDaniel, C. D. (2008) The Future of Business: the essentials. 4th Edition. Mason: South-Western Cengage Learning. Gregory, K. (2011), The Importance of Employee Satisfaction. Available at http://www. neumann. edu/academics/divisions/business/journal/review2011/gregory. df [Accessed on 15th March 2013] Huffingpost, (2012) Google trumps Facebook in employees’ satisfaction, Glassdor survey finds (INFOGRAPHIC). [Online] Available at: http://www. huffingtonpost. com/ [Accessed on 19th March 2013] Judge, T. A. , Piccolo , R. F. , Podsakoff, J. C. , ; Rich, B. L. (2010). The Relationships between Pay Satisfaction and Job Satisfaction. Journal of Vocational Behavior, 77, 157-167. Kumari, G. and Pandey, K. M. (2011) ‘Job Satisfaction in Public Sector and Private Sector: A Comparison’, International Journal of Innovation, Management and Technology, Vol. , No. 3, pp. 222-228. Lavigna, B. (2010) Driving Performance by Building Employee Satisfaction and Engagement. Government Finance Review, 26(1), pp. 51-53. Lieven, F. , Decaesteker, C. , Coetsier, P. and Geirnaert, J. , (2001). Organizational attractiveness for prospective applicants: a person – organisation fit perspective. Applied Psychology: An International Review,  50(1), pp. 30-51. Mehra, S. and Ranganathan, S. (2011) Implementing quality management practices without sacrificing employee satisfaction. Production and Inventory Management Journal, Vol. 47, No. , 2011, pp69-79. Metle, M. K. (2001). Education, job satisfaction an d gender in Kuwait. International journal of human resource management,12(2), pp. 311-332. Mondrow, I. (2011) The relationship between pay and job Satisfaction: A meta-analysis of the literature. Imondrow. blogspot. dk, Perspective of Industrial/organizational psychology, [Blog] 23 Jan, Available at: http://imondrow. blogspot. dk/ [Accessed on 19th March 2013] Paul, T. (2012), The Impact of Age and Education on the Level of Satisfaction and Motivation Among Employees, IUP Journal of Management Research, Vol.XI No. 1 Peccei, R. and Lee, H. , 2005. The Impact of Gender Similarity on Employee Satisfaction at Work: A Review and Re-Evaluation. Journal of Management Studies,  42(8), pp. 1571-1592 Pelit, E. , Yuksel, O. and Yalcin A. , 2011. The effects of  employee empowerment  on employee job satisfaction. International Journal of Contemporary Hospitality Management,  23(6), pp. 784-802. Ravlin, E. and Meligno, B. (1998) Individual Values in Organization: Concepts, Controversies and Research. Journal of Management, 24 (3), p. 351-389. Schein, E. H. 1995) Human Resouse Practices in Organisational Transformation: Are They Culture Specific? In: Mit sloan school of management, NDU-MIT annual conference. Singapore 1995. Slack, F. , Orife, J. N. , Anderson, F. (2010) Effects of Commitment to Corporate Vision on Employee Satisfaction with their Organization: An Empirical Study in the United States. International Journal of Management, 27 (3) Thinking Bookworm (2012) Management of Human and Organizational Resources. [Online] Available at http://thinkingbookworm. typepad. com/ [Accessed on 18th March 2013] Turkyilmaz, A. , Akman, G. , Ozkan, C. nd Pastuszak, Z. , 2011. Empirical study of public sector employee loyalty and satisfaction. Industrial Management + Data Systems, 111(5), pp. 675-696. Wan, Z. , L. E. Leightley. 2006. Job satisfaction and workforce demographics: A longitudinal study of the U. S. forest products industry. Forest and Wildlife Research Center, Research Bulletin FP 362, Mississippi State University. 7 pp. Yee, R. W. Y. , Yeung, A. C. L. , Cheng, T. C. E. (2008), The Impact of Employee Satisfaction on Quality and Profitability in High-contact Service Industries. Journal of Operationsl Management, 26, p 651-658Zuckerman, M. B. , 2011. The Great Jobs Recession Goes On. U. S. News ; World Report,  pp. 1 APPENDIX 1 Transcription of Interview Jakob Lyngso Andersen, 2013, FLSmidth Human Resource Group Manager Interview on Employee Satisfaction, Interviewed by Noreen S. Orcine (Personal), Valby, 14th March â€Å"We have of what we call a pretty engaged work force. Loyal and committed, and that’s what counts. I don’t necessarily need a satisfied work force, because satisfied work force is you know, is just sitting and waiting around or they’ll be gone. They need complaints. Here I want something or somebody

Private Versus Public Warehouse Essay

Nowadays, manufacturing and services firms face growing challenges to increase profit margins amidst increasingly fiercer competition. Under such circumstances, industry analysts and supply chain experts suggest manufacturers and service providers to promote more effective supply and demand planning, management, and execution as the means to unlocking significant gains in margins. According to Search CIO (2007), SCM refers to management of information, materials, and finances along a chain of process from suppliers to manufacturers and then from manufacturers to customers. The interests in the discussion of supply chain management occur since it relates to costs reduction in all aspects of business process especially regarding the inventory reduction that suggests manufacturer produce goods when needed. In this situation, the selection of type of warehouses play significant role since it determines the SCM strategy for a company. In general, there are two types of warehouses: private and public warehouses. 2. Private Warehouse By definition, private warehouse is type of warehouse that directly maintained and operated by the owner of products or goods that are stored in it. Meanwhile, the warehouse facility itself could be happened to be privately owned or leased (Seaboard Warehouse Terminals, 2004) 3. Public Warehouse The other type of warehouses is public warehouse. Unlike private warehousing, public warehousing provides greater efficiency for a company since one warehouse is designed to design multiple logistics. Figure 1 shows typical design for warehousing needs in which the selection of public and private warehousing depends on the needs. Figure 1 Warehouses Needs Classifications 4. Public Warehouse versus Private Warehouse: Consideration Like outsourcing decision, the selection of type of warehousing that is suitable for a company. And according to comparison based on several factors, the public warehousing is considered beneficial than private warehouses as following: 4. 1. Costs Reduction †¢ Public warehousing does not require a company to have dedicated human resources/personal to operate the warehouses facility †¢ The handling and storage fee is predictable †¢ the warehouse costs can be translated into the storage costs to volume that would help marketing department to include this costs in the pricing scheme of the products   

EBI Special Order Analysis

This case study focuses on a business opportunity that has recently been offered to the Earth Baby Inc. (EBB). It concerns a business proposal that will increase the company's sales dimensions while also adding integral quality to its value chain through an alliance with a retail discount business, I. E. Great Deal Inc. (GUI).This analysis will take into consideration one or more strategic measures that should perhaps be taken by EBB in order to assist in identifying and mainlining risk and in order to insure that the proposed business agreement is in the best interest of the company. Aside from the more familiar decisional strategy which has always proven to be reliably effective, e. G. , a SOOT Analysis, an examination of the possible benefits arising from the use of an available heuristic approach that utilizes-foresight and hindsight Judgment parameters'-will be discussed.Keywords: EBB, GUI, SOOT, availability heuristic, hindsight bias, foresight knowledge The proposed opportunit y that has presented itself to EBB entails increasing the company's market share of baby food products through Geld's distribution chain and there resources. The proposed venture will offer EBB an increased profit percentage only if the company agrees to alter its current food processing formulas as well as turn-over a substantial portion of its branding rights to GUI.It is in the best interest of EBB at this time to conduct a comprehensive risk analysis with regards to the changes that will be made concerning the impact upon Bi's new product formula, new business environment and customer base along with branding techniques, marketing strategies and supply chain activities. Risk Analysis Conducting a thorough SOOT analysis would be advisable at first in order to assess Bi's internal strengths and weaknesses and how they will measure up against the- opportunities which may inadvertently turn into threats-with respects to the changes that will occur within Bi's newly adopted business environment.EBB will be challenged to weigh those resources that make up the force behind its competitive advantage(s) because it will be risking the success of its current business strategies against the sum of those changes that will impact it, should the company accept Geld's proposal (Bateman & Snell, 2009). Bi's management might consider backing up the information it garnered from a SOOT analysis with another method that examines the potential of risk involved with regard to opting for a reconfigured or otherwise entirely new and untried business strategy.A method that undertakes the available heuristic approach has been shown to provide business decisions makers with unique way -if optimal results are obtained- of incorporating intuitive Judgment-, referred to as-‘hindsight bias'- and integrating the more positive properties of this mind set with more quantifiable intellectual data referred to as -foresight knowledge'- with respects to formulating new strategies under th e constraints of various risks.This method gauges the two schools of thought by measuring and matching up- and then mapping and mathematically analyzing -the positive relationships between probable outcomes of certain risk factors, as in this case-they may pertain to and/or have- significant bearing on a number of business decisions, their outcomes, and their consequences based primarily upon their -perceived and qualitative'- susceptibility to risks.Conclusion Although at this Juncture, Bi's decision to employ the use of the availability heuristic may seem precarious, however the opportunity to identify and neutralize the risks of he proposal while also discovering some new and innovative strategies does present itself. A safer strategic analysis could be provided through the use of one or more of the conventionally known analytical tools, e. G.SOOT or Porters Five Forces. In any event it would be within Bi's very best interest to thoroughly investigate all the avenues of risks as well as opportunities before making a final decision to accept Geld's business proposal.

Literature Essay Example | Topics and Well Written Essays - 1500 words

Literature - Essay Example In other stories, particularly children’s books, setting hardly plays any role at all. The setting of three short stories – Ernest Hemingway's  Soldier's Home, Colette's  The Hand  and Katherine Mansfield's  Miss Brill  Ã¢â‚¬â€œ will be discussed in this essay. I will look at the public and private aspects of each setting to show that even when setting is not integral to the plot, it can reveal important truths about the characters.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Soldier's Home, from its very title, alerts us to the setting of the story (Meyer). However, it is not so much the physical positioning of the story that the title refers to as a genuine philosophical question, which can be asked of anyone whose travels irrevocably change them, war or no war: when a person changes, how can their home still be good enough?  The Hand, alternately, is one of those stories mentioned above in which the setting is almost irrelevant, as the action is a lmost entirely internal, externally restricted to the couple's bed. In  Miss Brill, the protagonist focuses on and is enchanted by the setting. The three authors imbue their setting with different levels of importance: the seaside park features as a place of enjoyment in Miss Brill's routine, and her presence there directly causes the climax of the plot.  Krebs' house in  Soldier's Home  exacerbates his feeling of despair without actually causing it; Colette's protagonist remains unaware of her physical surroundings as she focuses exclusively on her new husband's â€Å"monstrous† hand (reference). In each story there is a public setting and a private setting. This essay will define these settings for each story before contrasting the ways in which this literary device is used.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  In 1925, Ernest Hemingway published a collection of short stories called  In Our Time, one story of which was  Soldier's Home. This story features Krebs, a young man who returns to America from World War I in 1919, a year after the war has ended and long after other local soldiers have returned home. He â€Å"did not want to leave Germany† (Hemingway), and now feels like an outsider. The public and private dichotomy of settings in  Soldier's Home  is complicated, because Krebs experiences degrees of privacy: in his bedroom, he admits to himself that â€Å"he did not really need a girl†; when on the front porch, he â€Å"liked to look at them† but when in town, â€Å"their appeal to him was not very strong† (Hemingway). In the privacy of his bedroom and the pool room, Krebs can escape the changes and simply  be, thoughtlessly. In the public areas of his house and the local town, he must  come face-to-face with manifestations of  how the war changed him.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  In the settings beyond his private bedroom, Krebs is unable to handle other pe ople, their needs and personalities. He is unable to participate in a romantic relationship because he â€Å"did not want any consequences† – the German and French girls, possibly prostitutes, with whom he fraternized in Europe characterize â€Å"simple† relationships (Hemingway). This crisis runs so deeply within him that, in the kitchen, he tells his mother that he does not love her, by which he means he cannot love anyone. The war has taken so much of him that he cannot deal with other people.   

Psychology- Counseling - Dying to be thin Essay

Psychology- Counseling - Dying to be thin - Essay Example The consequences of the disease can be seen in most aspects of the physical body, including the potential for death. The starvation, which is part of the restrictive eating that progressively lowers the body weight, can create a situation within the body from which recovery is no longer possible, the victim wasting away into death. The treatment for this disorder includes creating acceptance in order to combat the denial and health considerations that include gaining weight under the care of a doctor. The issues that bring on this disease can include traumas that include circumstances that are beyond the control of a child, thus creating the need for that child to find a way to control something in their life. The ability to control the intake of food becomes one way to assert his or her ability to have control. Another driving factor in the development of body distortion issues is the high level of media objectification of women and the way in which they are defined through standard s that few women can attain. This social pressure combines with the ideas of perfection and control in order to create the psychological stew in which the disease is formed. In addition, social networks on the internet are now providing forums through which community can be found for those who are still deluded and believe that it is a lifestyle. As well as community, dangerous tips are given about how to combat the recognition of parents and doctors of the existence of the disease within those who are suffering under it’s delusions. Defining Anorexia Nervosa The disease of anorexia nervosa is defined by a internalized belief that the body is not thin enough. The psychology of the victim is framed by a warped sense of their own image, a belief that their body is carrying too much weight and by controlling how much weight they carry, they will be controlling an aspect of their emotional life that is outside of their control. It is the internalized belief that through starvatio n or binging, they have grasped hold of something within their experience that has remained illusive. However, the disease is an obsession and has nothing to do with having true control over one’s life. The disease will then take control, leaving all other aspects of life outside of the concerns of food intact, exercise, and the movement of the scale as it moves lower and lower. Anorexia is defined by changes in eating behaviors as they become compulsive, obsessive, and attached to perceptions of body image. The division between what is a change in diet and what is a slip into anorexic behavior is a blurred line that happens at different points for different people. The most difficult problem in identifying anorexia is that the perception of the body has become greatly distorted throughout society through the objectification of an unreasonable weight ratio through media representation. According to Lucas (2004) it is common in studies of college age women to find that half wi ll display abnormal attitudes and distorted perceptions of their bodies. This, despite its close identification with anorexic tendencies, represents a social problem as it invades the population rather than a spike in the occurrence of the disease (p. 20). In order for a diagnosis to be made, physiological and

Exam questions Essay Example | Topics and Well Written Essays - 500 words

Exam questions - Essay Example If the right is bought, it is called a long call; if the right is sold, it is called a short call. An option that gives the right in due course make a sale at a predetermined price is called a "put" option. If the right is bought, it is called a long put; if the right is sold, it is called a short put. i) Flexibility - Options are an extremely flexible tool. Options can be bought or sold in many different combinations for many different investment opportunities (i.e. Stocks, indices) . This allows for an investor to take advantage of varied market conditions available at a time. Options can be traded to address rising or declining markets, quiet markets or volatile markets with uncertain price directions. ii) Increased trading opportunities – There are a great number of strategies that can be adopted while trading options. These create additional profit and risk management opportunities for traders thus an increase in returns. iii) Limited risk with unlimited profits – If one buys a call option, they benefit from unlimited profit potential as the stock moves higher while the investor who buys a put option, has the benefit of unlimited profit potential as the stock moves lower. Index options are financial derivatives that give the possessor the right, but not the obligation, to buy or sell a basket of stocks, such as the Nasdaq – 100 index options, at an agreed-upon price and before a certain date. An index option is comparable to other options contracts, the difference being the underlying instruments are indexes. One may use index options to hedge when there is need to protect the value of the portfolio of mixed stocks in case of a market decline. Index puts are utilised in this instance. Index puts are generally used to protect unrealised profits stemming from an investor’s portfolio. There may be various classes of options that are available

Bernard Arnault's Leadership Style Case Study Example | Topics and Well Written Essays - 1000 words

Bernard Arnault's Leadership Style - Case Study Example Louis Vuitton was a family run business in those days and in mid Eighties and he had to fight a bitter battle to gain control of this company. His appreciators say that he has inborn vision of clever marketing, creative designs and knows how to keep a tight control over his empire without a single slackening moment. He knows how to conduct global business with an uncanny ability and stopped further acquisitions when time was unfavourable. His leadership style is highly appreciated in the Corporate world. Entry into luxury marketing needs powerful backing and he received it from the French government which was looking for someone to take over the textile empire. It is said that the sale of his Mediterranean home made him exclaim that "When something has to be done, do it! In France we are full of good ideas, but we rarely put them into practice" (Forbes, June 2, 19971). His powerful friend Antoine Bernheim, MD of investment firm Lazard Freres arranged finance and family arranged $15 million of their own money and the total was used to buy Dior, which he said was the potential cornerstone of 'luxury-goods supermarket'. Also it is believed to be a brutal rise to power with opportunistic leadership strategies in which Henry Racamier, the former chairman of LVMH's Louis Vuitton was eliminated along with all top executives. His dicision making is ruthless, almost vicious and full of calculated risk taking. He knew how to balance commerce and artistry by involving both sound management practices with creativity. He was careful to be choosy when it came to picking his managers. "He believed that to raise creative energy, a company must have managers with a certain love for and understanding of artists" and he hired John Galliano, who could create unusually melodramatic unconventional designs" http://www.answers.com/topic/bernard-arnault The old business house changed its profile overnight to display the most brilliant artistry. A trained pianist, Arnault always maintained a creative eye and created a name for himself as the most unique CEO of the world. He insisted on financial discipline without curbing artistic innovation because he thought creativity counterbalances the commerce. He could be an autocrat and showed it when he terminated services of Dior perfumes heads to replace them with new US executives who became unpopular while company financially gained and this move resulted in some of the timeless most enduring 'star brands' which he explained: "Our strategy is to have some stars-and there are not many stars in the luxury business. What is a star It's a name that is the very best. It's a name that is very profitable. But the number of true stars is less than I can count on both of my hands" (New York Times, March 25, 2001). He went on a bourgeoisie shopping spree and indulged himself while amassing a business empire par excellence which spread all over the western world. He was advised against too large an expansion, but he believed in himself and came out a winner. He referred to the competitors in one of his interviews: "They saw it was working. And then they said, 'Okay, now we are going to do the same thing.' I think, really, they underestimate the difficulty. They underestimate