Management Essays McDonalds Restaurants and Management Strategic Management and Operations

Management Essays McDonalds Restaurants and Management Strategic Management and Operations McDonalds Restaurants Management Introduction Strategies are important for all businesses, irregardless of the products or services that they offer. Through strategic management and operations, companies are able to integrate new and effective means of running their respective businesses. In turn, these strategies results to increased profit or sales, stable market position and greater levels of customer loyalty. In the fast food industry, certain business strategies are also being developed and applied so as to achieve similar effects. In this report, the impact of some business strategies in actual businesses will be analyzed. The case study provided was about McDonalds and how the company has evolved to be successful in the British market. In addition, the case discussed the problems that McDonalds have been encountered throughout the years, specifically in terms of being considered as a company which offers unhealthy foods. Primarily, the main goal of this paper is to determine the business strategy of McDonald to sustain their competitive advantage in the global market. Overview of the Company McDonald’s has a rich history that started out in 1954. The company was put to the spotlight by Ray Kroc. Throughout the years, marketing ideas have poured through and helped the company become one of the most renowned fast food brands globally. The trademark design for the fast food was carefully studied and it came with a happy clown character known as Ronald MacDonald (McDonald, 2008). The Big Mac and the Egg Muffin have been some of McDonald’s most innovative products. In terms of marketing, the happy meal approach was also a creative as it entices children to eat at MacDonald’s because of the toys they can get. Today, McDonald’s is also on the Internet bandwagon, providing information to people all over the world with a click of a mouse (McDonald’s Corporation, 2008). McDonalds restaurants offer a substantially uniform menu, common in the usual fast foods. This includes hamburgers, cheeseburgers, chicken sandwiches, French fries, salads, milk shakes, desserts, and ice cream sundaes. The company’s top sellers, and can also be considered as innovative ones, include the Big Mac, Quarter Pounder with Cheese, the Filet-O-Fish and Chicken McNuggets. Recently, the company has added a number of new nutritional products. This includes the Salads Plus products i.e. Garden Side Salad and the Grilled Chicken Flatbreads (McDonald’s Corp. UK, 2008). Uniformity continues in McDonalds restaurants operating in the US, UK and certain international markets that are open during breakfast hours and offer a full or limited breakfast menu. Breakfast offerings include the Egg McMuffin and Sausage McMuffin with Egg sandwiches, hotcakes, biscuit and bagel sandwiches and muffins. Also, McDonalds tests new products on an ongoing basis and sell a variety of other products during limited-time promotions. In the fiscal 2003, McDonalds generated revenues of $17.1 billion, an increase of 11% on the previous year. Operated Restaurant business unit posted revenues of $12.8 billion in fiscal 2003, compared with $11.5 billion in 2002 and $11 billion in 2000 and represents approximately 75% of the companys net sales. On the other hand, the Franchised and Affiliated Restaurants business unit posted revenues of $4.3 billion in fiscal 2003, compared with $3.9 billion in 2002 and represents approximately 25% of the companys net sales. The geographic are of Europe accounts for 37%, second to the 39% total revenue in the US. The customer target of McDonald’s is usually children or young people. In fact, McDonald’s already entered the children’s wear market. The new McKids products include footwear, videos, toys and casual clothes. Soon to be released worldwide, it is an attempt to redefine McDonald’s image partly due to heightened concerns about the rising levels of obesity amongst consumers, particularly in the US and the UK. Strategies of McDonald McDonalds is one of the famous food chain all throughout the world known by both the child and adult alike. It has increased it sales despite some issues being raised against the company. To further increase sales on the business and improve its performance, business strategies are done by person in-charge. It is in this stage wherein the company would improve what they lack thus making prospective customers to keep on coming back and ask for more. It is said that McDonald has been able to use various strategies to uplift and sustain their competitive advantage in the market. Part of its business strategy is its plan to phase out its Super Size French fries and soft drinks as it tries to create a healthier image for itself. The Super Size option is to be phased out in an attempt to slim down its menu amid increasing concerns and issues being raised about obesity (Crouch, 2004). The company is also planning other menu changes, such as switching to a cinnamon roll and a sausage burrito as its core breakfast offering, while bagels would become an optional item. The company also has to stop selling its 14 ounce McDonald’s Fruit n Yogurt Parfait and replaced it with a smaller-sized version of the product (Crouch, 2004). All these changes in the menu are part of its strategy to provide a range of choices that support a balanced lifestyle. The company has also added that the simplified core menu would be rolled out to its entire restaurant. Furthermore, using the national rollout of its â€Å"made for you† platform as the opportunity to re-evaluate its core brand attributes, the company has quietly formed a global brand strategy task force that is looking for â€Å"long and hard† at the essence of the Golden Arches (Howard, 1999). The group which will be led by new vp-brand strategy has been meeting for several months and is anticipated to put forward its findings in fresh consumer messages by mid-2000. The slow-build will allow stores to work through an expected learning curve for the new cooking system and avert major miscues as it attempts to deliver on the promise of hotter, fresher foods made to order (Howard, 1999). The group also is evaluating all elements of the brand from menu, service, and restaurant dà ©cor to brand icons Ronald McDonald. Even though domestic sales have turned to healthy 5% level, the said company is rethinking how to sustain growth in the face of both national and regional rivals.In the past, the company’s marketing strategy has been criticized for being short-term focused and there has been no over-arching umbrella strategy. With that, the charge is to bring continuity and consistency to the brand strategy piece. Strategies in other areas of the organization is also made like the three-wheeled vehicle that is used to collect discarded cups and burger wrappings from the neighbourhood around the restaurant and the provision of good services to customer which naturally begins and commences with hiring the right kind of people (Livesey, 1999). Staffs are encouraged to smile, be optimistic and treat customers particularly with respect, tell them what a person wants and follow up on the performance and reward their behavior. The restaurant’s bathroom is not spared. Issues are raised on the concerns about the said restaurant to be dirty and unhygienic. Customers want a clean area especially the bathroom to make they feel comfortable. Strategies like this should also be applied (Livesey, 1999). McDonald’s has developed three strategies for sustaining the competitive advantage. These are customer convenience, customer value, and optimal operations. Together with the digital strategies, it will help create new and bold ideas for the company. The stores are characterized by the operations team as miniature manufacturing facilities. With its goal in improving the suite of its manufacturing systems (inventory control, production planning, financial control, and point-of-sale order entry) that supports the store, the team has developed ways of improving its overall operations. Aside from offering hamburgers and French fries, the current trend in McDonald’s extends in serving as a family retreat, and as a community center for senior citizens. The means for the former one are its extensive indoor playgrounds and promotional toys, while the invitational plays of bingo are for the latter one. As this trend continues, an extension of more service-oriented technologies is needed. They can conduct studies and surveys to better know which among the different alternatives serves the company’s objectives the best. These might include robots taking orders instead of humans, automated processes of food production, and the like. To achieve customer convenience, one of their key initiatives is on the improvement in the speed of new stores’ opening. To answer this, the â€Å"day in the life† scenario was developed for site developers that described the optimal toolset and the collaborative environment they would have with them as they scouted for locations. Rather than choosing individual tools, they should think about the tools on the horizon-geographical information systems, global positioning satellites, new media such as teleconferencing, and the expanding flow of information through public networks like the Internet. The adherence of the company to put WIFI technology in their stores for instance has also become one of the attractive forces for customers. For the achievement of customer value, focus should remain on real-time information flow that allows instant corrections of the menu and prices in response to customers’ preferences, competitive environment, and even the ingredients’ global commodities market. Specific Situation Strategy McDonald’s has been recognized as a highly flexible corporation. This company feature has been evidenced by its vast product differentiation. This is one of the company’s major strategies in entering foreign markets. Teriyaki burgers in Japan, McPork Burgers and McTempeh in Indonesia, McSpaghetti in the Philippines and McLox Salmon sandwiches in Norway are some of the concrete examples of McDonald’s ability to modify its products based on international tastes and preferences which they also done with their British market. While minor product changes are required for these countries, vast changes would have to be done for Britain’s case. Modifying the product or service is one example on how foreign firms are able to distribute their goods effectively in diverse markets. Another is by modifying the businesses’ marketing mix in order to fit global resources to local market conditions. In order to do this, multinational companies can transfer their developed global brands into a new market by means of changing their products’ formulation, prices or packaging. This in turn will increase the products’ appeal to both consumers and retailers. Doing this globalization strategy however, naturally requires considerable investment. Still, this will make multinational companies at par with the local companies. Another possible localization strategy is by developing new resources that are market-specific. This strategy is done when the multinational company acquired some local brands, marketing them along with their global product brands (Arnold, 2003). As McDonald’s typically serve beef burgers and non-spicy food items, the company would have to drastically change its menu for the Britain market to provide healthier menus for British people. For instance vegetable salads and chicken kebabs were also served to cater to the health conscious population. These are some of the many changes that McDonald’s did in order to gain entry to the Britain market. In addition to product differentiation, regulation of the products’ prices is also a top priority. Effective promotions and advertising were also integrated into the company’s international strategy. One of these tactics include the company’s promotional offers of various items like Internet cards, concert tickets, CDs, T-shirts, caps and international trips . This promo had been done as the company collaborated with other organizations including Coca-cola, Sony, MTV, and General Motors. Painting contests for children were also conducted by McDonald’s. Furthermore, the advertising strategies of McDonald’s had been focused on building an image of family comfort. Rather than just being an ordinary fast food that serves quality meals, McDonald’s intends to appeal to the market by building a fast food image where families can get together, enjoy and relax. Overall, the international strategy of McDonald’s for Britain has been effective. In general, the focus of these strategies was the customers. Customers play a significant role to a business’ success or failure. Being an important business element, meeting the needs and preferences of the consumers is the utmost priority of almost all businesses. McDonald’s has clearly shown the importance of this concept by adapting to the Britain culture, its people and their tastes. By reaching out to the British market, McDonald’s was able to successfully establish itself in Britain. Despite the success of McDonald’s in Britain, it is important to consider that the cultural background and preferences of its market continues to change. New markets in the country will eventually emerge. Considering the strict competition within the food service industry, McDonald’s should then implement new strategies so as to reach out to the new markets. Perhaps, one of the most significant initial steps for the company is constant conduction of consumer studies.Strategic recommendation Through this strategy, McDonald’s can be updated with the latest market trends and identify new market segments. Changes in food preferences can be obtained through consumer research. Furthermore, this strategy can significantly help in increasing the company’s market scope in the country. Another important strategy that McDonald’s should do so as to address emerging markets in Britain is through enhanced advertising and promotions. This can be done through the implementation of the integrated marketing (IMC) approach. McDonald’s employs a number of ways on how to promote its products in Britain. Aside from television commercials and printed advertisements, the company also uses the Internet and various promotional offers for advertising purposes. In order to optimize the functions of each promotional media, McDonald’s can use the IMC Strategy. IMC enables interactivity, which in turn allows the counter flow of information. Through IMC, companies in the food service industry, such as McDonald’s, will be able to combine core strategies with other forms of communication to gain more marketing advantages and generate better business effects. IMC is the strategic coordination of multiple communication voices. Its aim is to optimize the impact of persuasive communication on both consumer and non-consumer such as trade and professional audiences by coordinating such elements of the marketing mix as advertising, public relations, promotions, direct marketing, and package design (Moore and Thorson, 1996). While traditional means of marketing like advertising is one way in nature, the integrated marketing communication approach permits users to do several functions, including receiving and altering information or images, forward inquiries, respond to these questions, and the most important of all, make purchases (Moore and Thorson, 1996; Moore, 1993). One important aspect of this integrated approach is the resulting effect of a more enhanced means of brand building. In the case of internet marketing, integrated marketing communication will allow food service companies to maximize the use of the internet in building bands by incorporating other marketing means. The effect of which will lead to enhance product promotions and better net sales. The IMC approach has been beneficial to several companies as it helps in identifying the most useful and appropriate methods in communicating and establishing good customer relations, including good relationships with stakeholders like the employees, investors, suppliers interest groups and the public in general. During the 1990s, the introduction of the integrated marketing communications has been one of the most important developments in marketing, which continued on up to the present. From here on, the IMC approach is being applied by large and small companies alike, and has been well-known among companies marketing consumer goods and services, including business to business marketers. Using this strategy, McDonald’s may maximize the use of mass media, direct and online marketing. In order to maximize the purpose of the IMC strategy, the official website of McDonald’s may be enhanced and integrated as well. The internet have changed the ways companies create, design and implement their whole business and marketing plans as well as their programs for marketing communications. In order to promote their product lines, companies, from large multinational enterprises to small local companies, are developing certain web sites, complete with vital information that will help enhance customer relations or attract potential consumers. In terms of the promotional mix, the internet is a capable medium of doing more than just advertise. Through this medium, McDonald’s may offer other means of sales promotion through coupon, sweepstakes or contests online. Moreover, the internet may be used to perform, personal selling, public relations as direct marketing more efficiently and effectively. The official website of McDonald’s Britain is actually well-made and attractive. It offers complete product details along with product pictures, which serves as an effective marketing tool. As Britain’s are very particular about the ingredients used for their food, the website also discusses the different ingredients included for the products it produces. Other services offered by the food company like parties are also included. In this website, the food items offered by the company are described as delicious, healthy, hygienic and refreshing. In addition, these food items are always served with a â€Å"smile†, implying the company’s quality service (McDonalds Britain Official Website, 2005). With these major advertising elements, McDonald’s could use the same elements for its commercials, print ads and other promotion channels. By doing so, the company can create a more distinct and definite brand that the Britain market can easily remember. In this case, this is where the IMC approach comes in. The coordination of different media channels can then help in making a more established McDonald brand in Britain, resulting to higher market support, market growth and sales. In addition, McDonald also considered the use of cost leadership and product differentiation strategy which also allows the companies to enhance their products as well as develop new ones based on market demands and needs. By means of new product development, generation of ideas that are different and unique among competitors becomes possible. Thus, by means of new product development, industries are able to overcome cutthroat competition. Increasing the companies’ market coverage is yet another effect of developing new products for the customers like what McDonald’s have done with their British branches. Creating something that is unique to the market place increases the possibility of catching the interest of other potential consumers. This in turn increases the market coverage or diversifies the target market of the company. For McDonalds, people are its most important asset (McDonald, 2008). This is because customer satisfaction begins with the attitudes and abilities of employees and committed, effective workers are the best route to success. For these reasons, McDonalds strives to attract and hire the best, and to provide the best place to work. In fact, McDonalds is so active and successful in newly emerging markets that other companies will sometimes use the golden arches as a valuable indicator of future growth markets. Conclusion McDonald’s has been successful in operating within the food service industry through efficient strategies and quality standards which enables them to gain competitive advantage. As evidenced by its international market growth, McDonald’s has already been efficient in gaining entry even in the most challenging markets like Britain. Through its strong sense of quality service and customer satisfaction, McDonald’s was able to offer its products to the Britain market. Products were modified to suit the British taste and preferences; affordable prices were implemented; effective promotions and offers were done. These are some of the strategies involved in the company’s business strategy which allowed McDonald’s to gain the Britain support. Despite these successes, the company should take into consideration the growing level of competitiveness in the food service industry. In Britain, several foreign fast food chains offering similar products are also being supported by the Britain consumers. Constant strategic change is then necessary to ensure that the company would sustain their competitive advantage. In conclusion, McDonald’s has been successful because of the value the company gives for its customers. Hence, despite the controversial beginning of McDonald’s in Britain, the company managed to adapt to its people’s cultural needs. Indeed, McDonald’s is a learning organization, one that is willing to learn and open to change. Reference Arnold, David (2003). Strategies for Entering and Developing International Markets. In Mirage of Global Markets, The: How Globalizing Companies Can Succeed as Markets Localize. Financial Time Prentice Hall, 2003. Crouch, A. (2004). Fast-Food Business Strategy. The Raw Prawn Blog Howard, T. (1999). The Over-Arching Strategy-McDonald’s Global Brand Strategy Task Force. Brandweek, November 8, 1999 Livesey, S. (1999). McDonald’s and the Environmental Defense Fund: A Case Study of a Green Alliance. The Journal of Business Communication, Vol. 36 McDonald’s Corporation (2008). About McDonald’s/McDonald’s History (online). Available at: http://www.mcdonalds.com/corp/about.html. Retrieve April 28, 2008 McDonald’s Corporation UK (2008). Eat Smart/What’s On/Good News (online). Available at: http://www.mcdonalds.co.uk/ Retrieve April 28, 2008 Moore, Jeri Esther Thorson (1996). Integrated Communication: Synergy of Persuasive. Mahwah, NJ: Lawrence Erlbaum Associates. Moore, Jeri (1993).. Building brands across markets: Cultural differences in brand relationships within the European Community. In D. Aaker A. Biel (Eds.), Brand equity and advertising. Hillsdale, NJ: Lawrence Erlbaum Associates.

The Childhood of Charles Dickens Essay -- Biography Biographies Essays

The Childhood of Charles Dickens      Ã‚  Ã‚  Ã‚  Ã‚   "I do not write resentfully or angrily: for I know all these things have worked together to make me what I am" - Charles Dickens    Charles Dickens's tumultuous childhood did indeed shape the person he became, as well as have a definite impact on his literary career.   There are shades of young Dickens in many of his most beloved characters, including David Copperfield, Oliver Twist, and of course, Great Expectations' Pip.   Like Dickens, all three of these characters came from humble beginnings and were able to rise above their respective circumstances to achieve success.   Similarly, Dickens' literary success is owed in large part to his unhappy childhood experiences.   He did not merely overcome his past, he triumphed over it by incorporating it into best-selling works of art.   Drawing on these events not only provided a cathartic release from childhood traumas, it also modernized the classic rags-to-riches success story.   When comparing Dickens' childhood to Great Expectations, it becomes apparent not only how these formative years influenced his literary career by inspiring many of the characters and themes predominant in the novel, but also how Dickens used his work as a form of therapeutic release from childhood tensions.    Charles Dickens' childhood and young adulthood was definitely filled with enough drama to base a novel upon.   Born February 7, 1812, to John Dickens, a clerk in the Navy Pay Office, and his wife Elizabeth, Charles spent his earliest years in the English seaport town of Portsmouth.   The first years of his life were idyllic enough, alt... ... safe way.   He did not have to confront the people and events that shaped him directly, he could do it through characters such as Pip.   He was well-acquainted with the themes that run throughout the novel because he experienced them in his own life.   His first-hand knowledge of such feelings as guilt, betrayal and personal redemption added an authenticity to his fiction that would be difficult for authors without such a history to duplicate. Works Cited    Allen, Michael. Charles Dickens' Childhood. Basingstoke, Hampshire: Macmillan, 1988.    Dickens, Charles. Great Expectations. 1861. Ed. Janice Carlisle. Boston: Bedford, 1996.    Forster, John. The Life of Charles Dickens. New York: Bigelow, 1876. Kaplan, Fred. Dickens: A Biography. New York: Morrow, 1988.            Ã‚  

Barnesandnoble.com & Technology

Technology and internet made life more efficient nowadays. Part of innovation is the integration of websites where one can buy books that they need and have it shipped directly at their doorstep. Barnes and Noble is one of the most trusted site when it comes to online bookselling. This paper aims to evaluate the website along with its business model, ethical, legal and security issues. A discussion will also be presented on how the website uses communication technologies in both effective and non effective ways. One of the largest book chains stores in the US has been Barnes and Noble.It started as a local book store and find ways to make book buying more convenient by creating their own website. Online booking selling seems to have one disadvantage over store book selling. The customers in the stores are able to feel the book and read excerpts of the book. In such a circumstance, they would be more interested in buying the book and would find the book its money’s worth. With time, the internet is beginning to change, and many of the manufacturers are beginning to show case the product and actually permit the customer to sample it using the internet.With the bookshelf model, it does seem that it would be costly to get the investment to setup the place, build shelves and get the logistics. In comparison, an online store does not require much of investment and infrastructure. The customer can access the online bookstore from almost any part of the world and can select the book. The user would need only a computer, an Internet connection, and a membership username and within a short period of time the product would be delivered to the house. Studies have shown that when the price of a product was lowered, below the willingness to pay, the customer is more likely to obtain the product.The customer would obtain the product satisfactorily, if the price equals the willingness to pay. The customer would not be happy if the price of the product is higher than the willingness to pay. Barnes and Noble has a good reputation and has it stores located in various parts of the US. People are paying more money for Barnes and Noble products because it is more renowned and started as a local store. Barnes and Noble company went online and offered the customers huge discounts for online hardcover and paperback versions (up to 30 %).Barnes and Noble wanted to become the leader in online bookselling by displacing other online bookstores. They felt that online business offered much greater opportunities, as people could not find a bookstore with a variety. People from even other countries could do online shopping and improve the sales of the company. The investment over infrastructure and setting up a shop was much higher compared to a bookstore compared to online shopping. People, who did not have the time to search for a bookstore, could now do it setting in the comfort of their homes. This seemed to be one of the greatest advantages of online shopping .Through online shopping, the books could be advertised and marketed and this could really boost sales. Barnes and Noble operated a sorting facility in Jamesburg, and slowly this facility began to expand. They developed a very efficient strategy in comparison to Amazon, and claimed to bring the book to the customer much faster than what Amazon actually did. However, the operations of both, Barnes and Noble and Amazon were similar. Barnes and Noble also created better web features compared to Amazon. They also separated out the online operations from the bookstore in order to evade tax.This practice is considered to be unethical and illegal because it is the prime responsibility of a business to adhere to tax rules. At the back end of the operations, Barnes and Noble also tried to establish relations with the publishers and the wholesalers. One advantage the company had observed was that the operations were much lesser compared to a standard bookstore as infrastructure costs were sav ed. Barnes and Noble soon began to offer to the online customers, books at the wholesale or warehouse rates. The company also offered several services.The software tool of Barnes and Noble company permitted the customers to store personal data and also buy the books very easily. They also signed up with several Internet organizations such as AOL and the New York Times to provide extra services. AOL provided software and news services. This is one good strategy as the communication technology is maximized and at the same time security issues are intact. As Barnes and Noble offered personalized services, it could be combined to the Harvesting model of substitution. Barnes and Noble also tried develop a website much richer than other websites.They began to involve the operations of the book supply system so as to improve the online strategy. The software technology utilized by Barnes and Noble was also much superior to prove that the company really has a good business model. Barnes and Nobel website had its name already established in the online book market. They were seeking to make relationships with the customers and improve their business further. The graphics of the website that belonged to Barnes and Noble was much more esthetically pleasing compared to others. The main targets of the website were the buyers which is really a good strategy in business.Several benefits of the business model of the website gives focus on the costs of the books, marketing, advertisement, brand name, services provided, reputation, delivery time, discounts provided, range of after sales services, etc. Barnes and Noble is really a customer friendly website. Reference: Barnes and Noble (2009), Books, [Online]. [Retrieved: February 18 2009] from: http://www. barnesandnoble. com/bookstore. asp? z=y,. Barnes & Noble Booksellers (2009). [Retrieved: February 18 2009] from: http://www. washingtonpost. com/gog/book-events/barnes-and-noble-booksellers- rockville,798835. html

Petroleum and Case Study

UNIVERSITI PUTRA MALAYSIA A CASE STUDY ON PETRONAS CARIGALI SDN BHD (Facing the International Challenges) WAN ZAINUDDIN HJ WAN MUDA GSM 1997 7 ? ‘IESIS A CASE STUDY ON PETRONAS CARIGALI SDN BHD (Facing the International Challenges) BY WAN ZJUNUDDIN HJ WAN MUDA MATRIC NO. : 45161 MASTER OF BUSINESS ADMINISTIUlTION MALAYSIAN GRADUATE SCHOOL OF MANA. GEMENT UNIVERSITY PUTRA MALAYSIA. SERDllNG SELANGOR DmUL EHSAN DECEMBER, 1997 A. Case Study On Petronas Carigali Sdn Bhd (Facing The International Challenges) By Wan Zainuddin Hj : Wan Muda 45161 Matrie No.This Case Study is submitted in partial fulfilment of the I'equirement fol' the Mastel' of Business Aclministl'ation, Malaysian Graduate School of Management, Univel'sity Putn Malaysia, Sel'dang, Selangol' Dal'Ul Ehsan. Confidentiality Statement The Case Study is purely an academic exercise undertaken by the author. The case herewith contains certain information that shall not be disclosed to the public. Thus no part of this documen t is to be reproduced in any form and be used in any manner without prior written permission from the author.Acknowledgement First, I would like to extend my deepest gratitude and appreciation to my Supervisor, Professor Dr. Mohd. Ismail Ahmad for his guidance, comments and valuable suggestions during the course of preparing this case study. A big thank you and credit shall also be given to all lecturers throughout the whole MBA programme for their interesting lecture which makes all of us more clear and understanding on the business concept and strategy which is important for today's competitive business environment.A word of thank shall also go to my wife and children who provide me a valuable inspiration and have been the most patient, understanding, supportive and encouraging for taking this course. Without them, the completion of this case study and the MBA programme would not have been possible. Thank you so much – I love you all †¦.. . Originality of the Document I, Wan Zainuddin Hj Wan Muda, Matric No. : 45161, a final year student of the MBA programme at the University Putra Malaysia, Serdang, Selangor Darul Ehsan hereby confirmed that the case repared for the above programme is purely the sole effort of my goodself. Name: Date : ‘allg? _1Ihd ?l_1Xl†I †¦.. ,†¦Ã¢â‚¬ ¦. ,, a.? __ ? P. T___ F_ Ii,. ,. ) FIGURE 1. 0 PETRONAS GROUP OF COMPANIES – 8 – I I I I I 1 I MANAGEMENT COMMITTEE GROUP PVBUC AFFAIRS BOARD OF DIRECTORS PRESIDENT ICEO DATO' M. HASSAN MERJCAN . : I I I I I -I 1- . .1 I BOARD AUDIT COMMrmE lAMe I INTERNAL AUDIT REGIOAAL OFACCS I I I HEALTH, SAFETY & ENVIRONMENT COMPANY SECRETARY &. LEGAl†¦ SERVICES CORPORATE PlANNING & BUSINESS DEVElOPMENT I I I CORPORATE DEVELOPMENT 1 I I I I EXPlORATION &. PROOUCTKlN SECTOR I . s PETROCHEMICAL SECTOR I ITEC? OGY . 1 1 RESOURCES & MANAGEMENT SECTOR REF? ING ‘ MARKETING SECTOR II TRANSPORTATION & MARINE SERVICES SECTOR I ) HUMAN RESOURCES MANAGEME NT SECTOR I 1 FINANCE SECTOR J FIGURE 2. 0 PETRONAS ORGANISATION STRUCTURE – 9 – PETRONAS was now a full-fledged oil and gas company which engaged in a wide range of activities. covering petroleum exploration and production. oil refining. marketing. trading and distribution of crude oil and petroleum products. natural gas processing. ransmission and distribution. natural gas liquefaction and marketing oil liquefied natural gas. and manufacturing and marketing of petrochemicals and fertilisers. Due to the government's depletion policy. oil production in the country was levelled off between 600. 000 bopd to 650. 000 bopd. Today. within a strong foothold in the country. while building on to its domestic operations. PETRONAS was actively expanding into the global market forging towards its vision of becoming a multi-national petroleum corporation. As PETRONAS President says †¦. The most critical challenge would be to achieve and keep our competitive edge in the intern ational arena where we would be up against the most established and experience players. In order to realise the above. we need to re-examizJe ourselves order to achieve the iUld cOlltlnuously improve 011 everytlJJllg we do in most cost effectiveness. efficient utilisation of our resources †¢Ã¢â‚¬ ¦. we must continuously seek improvement in our organisation and respond positively to the constant changes in the dynamic business environment that we  · operatem †¦Ã¢â‚¬ ¦ † . (3) 10 – 2. 1 . 1 VISION STATEMENT† MISSION STATEMENT PETRONAS, having consolidated its position at home and with the expertise and knowledge acquired over the span of 20 years of its existence, was spreading its wing and venturing abroad to pursue its â€Å"dreams†. In order to realise organisational goals, PETRONAS has recently launched the long term Vision Statement as well as creating a Mission Statement to benchmark and evaluate organisation success. PETRONAS VISION STATEME NT † To be a Leading Oil and Gas Multinational of Choice † PETRONAS MISSION STATEMENT We are a business entity, Petroleum was our resources, Our primary objective was to develop and add value to this national resources, Our obj ective was to contribute to the well being of the people and the nation† 2. 1 . 2 SIIARED VALUES In addition to having both Vision and Mission Statement, PETRONAS also launched organisational â€Å"Shared Values† to enhance organisational objective in achieving the goals. – II – Loyalty Professionalism – Loyalty to the Nation & Corporation Committed, Innovative and Proactive and Always Striving for Excellence Integrity CohesivenessHonest and Upright United in Purpose and Fellowship With the above Vision, Mission Statement as well as establishing â€Å"Shared Values† statement, it was envisaged that PETRONAS employee could foster a better teamwork, quality product and services which could provide competitive edge, and hence would portray PETRONAS image, reputation and success of the organisation not only at home but also at the international arena. 2. 2 PETRONAS CJlRIGALJ SDN BBD PETRONAS CARlGALI SON. BHD. (peSB) was one of the PETRONAS wholly owned subsidiaries incorporated on 11 at May 1978.With the increase business activities in the exploration and production of oU and gas and good potential for industry development, peSB has been entrusted by PETRONAS to spearheaded the challenge in the oil and gas exploration, development and production not only locally but also at the international arena. To date, peSB was the operator of more than 12 fields, producing about one third of the country's total oil and gas production. The fields operated by PCSB locally are Ouyong, Oulang, Bekok, Tapis and Pulai in Peninsular Malaysia, the Tembungo and Samarang in Sabah, nine oilfield in – 12 –Baram Delta area in Sarawak. Meanwhile, in the international area, peSB was operating Dai Hu ng in Vietnam, and few platforms in the Caspian sea which undergoing development phases. Currently, PCSB has been involved in a number of projects internationally. Among the international projects undertaken by PCSB was in the Asia region such as Thailand, Philippine, Vietnam, Burma, Indonesia, India; in the Middle East such as in Iran, Iraq, Syria; in Eastern Europe such as Turkmenistan, Uzbekistan, Azerbaijan; in Africa such as in Sudan and many more. Through the years, PCSB kept on venturing into new concession area and ggressively participate in the international arena to further strengthen its business. (4) 2. 2. 1 PCSB VISION STATEMENT Many multinational companies set a long term organisational objectives or goals known as vision statement. Likewise, as business activities were faCing a stiff challenge in todays global market environment, PCSB has also established company vision in realising its goals and objectives. With the vision, peSB was expected to enhance its capabiliti es. PCSB vision was † To Be A MultinatiolJal E & P CompalJY ofClJoice, Creating V alue TlJroug COlJtinuous ImprovemelJt & GrowtlJ â€Å". h – 13 – 2. . 2 PCSB BUSINESS OBJECTIVES One could argue that it was virtually impossible for an organisation to function without having establish some business goals or objectives. An objective set a future target or end result that an organisation wishes to achieve. It also set a direction where the organisation was heading towards achieving its dream. As part of globalisation effort to purse its business activities, PCSB has set few organisational objectives to spearhead the challenge of the oil and gas industry that was very competitive particularly in the international arena. PCSB business objectives were ; oTo actively participate in the exploration of petrolewn resources for the maximwn benefit of the peopJe o To attain lull operational and technical expertise through manpower development and the transfer of technology in the shortest possible time o To achieve an adequate production level so as to meet the nation? total crude oil and gas output o To ensure maximum Malaysian involvement in the fabricating and assembling of aD production facilities and provision of ancillary and supportive services in the oil and gas industry. The above business objectives were in line with PETRONAS President wishes who said that† †¦The most critical challenge would be to achieve and keep our competitive edge in the international arena where we would be – 14 – up against the most established and experienced players. In order to be competitive. we need to constantly re-examme ourselves iUJd CDlltbluously Improve Oil everytbblg we do in order to achieve cost effectiveness. efficient utilisation of our resources†¦Ã¢â‚¬ ¦. we must continuously seek improvement in our organisation and respond positively to the constant changes in the dynamic business environment that we operate 11(5) m†¦. . †¢ 3. 0 PCSB ORGANISATION STRUCTUREHaving diversifying its business activities outside the domestic environment. PCSB basically adopting functional concept of the organisation structure. Current PCSB organisation structure composed of essentially five (5) main divisions that were Exploration. Development. Commercial Services. Domestic Operation. and International Operation. Each of these divisions was headed by the General Manager who reported directly to the Managing Director/Chief Executive Officer. Exploration division focus on finding new oil and gas reserve that could provide substantial return to the company.Whenever Exploration teams find new oil and gas reserve. the field development was then be the responsibility of the Development division to further study how to produce hydrocarbon from offshore. Development division composed of Petroleum Department. Drilling Department. Design Department. Construction Department. and Services Department that specialise in cert ain work scope. Commercial Services Division mainly focused on all contractual matters pertaining to the project development and exploration activities. Meanwhile. for both – 15 –

How to Avoid Embarrassing Editing Marks on Your Documents! MS Words Track Changes Program

How to Avoid Embarrassing Editing Marks on Your Documents! MS Words Track Changes Program Ever get a document back from an editor that has tons of red or blue lines (maybe even some green ones), and have no idea how to get rid of them all, or view the document the way it’s supposed to look?   This article is for you! [Thanks to Larry Sochrin, MBA Admissions Consultant at The Essay Expert, for contributing instructions for Mac users.] Dont Submit a Document that Looks Like This! Why I Love Track Changes Microsoft Word has a very useful feature called â€Å"Track Changes† that keeps track of changes that an editor makes to a document, and allows subsequent readers to see what changes were made. When the â€Å"Track Changes† feature is turned on, anyone who opens the document can see every change made to the original document, whether to fonts, page formats, margins, and text. Track Changes also has a â€Å"Comments† feature that allows explanations and suggestions to be entered in the margins of your document. The value of Track Changes to me as an editor is that my clients can see what I’ve changed, and I can see the changes they make. I do not then have to go through their resume word by word to see what alterations have occurred. It’s also easy to accept or reject changes, without having to change individual fonts or colors. Gone are the days of manually inserting a strikethrough to indicate a deletion! The Dangers of Track Changes Track Changes can be troublesome too. You don’t want to send a document with lots of red lines and bubbles all over it to an employer or a school (many people have embarrassing stories of doing this)! The recipient then sees all the suggestions, changes, and possibly the original language and mistakes that needed changing. As part of proofreading and preparing the final draft of a resume, cover letter, or essay, take the following steps to ensure that you do not inadvertently send a marked up copy to an employer: Directions for MS Word 1)   Check to see if there are any comments or tracked changes in the document: Go to the â€Å"Review† tab and click on the window that says â€Å"Final Showing Markup.†Ã‚   Go to the â€Å"Show Markup† menu and make sure there are check marks in all the boxes (otherwise you might not see the comments or formatting changes when you look at â€Å"Final Showing Markup†) NOTE:   If the window says â€Å"Final† and you do not see any redlines, this does not mean they are gone! Make sure you are viewing the markups before determining that your document is clean. 2)   If you do not see any changes or comments and you do not make any other changes to the document, you’re good to go. 3)   However, if you do see comments and tracked changes, you can do one of two things: Change â€Å"Final: Show Markup† to â€Å"Final† and save the final document as a PDF. This solution works if the place you’re submitting your resume accepts .pdf files. Accept all the tracked changes and delete all edits and comments (unless you only want to accept some of them, in which case see step 4). NOTE: You need to delete edits SEPARATELY from comments! Under the â€Å"Review† tab, go to â€Å"Accept† icon and accept all changes. Under the â€Å"Review† tab, go to the icon that says â€Å"Delete† (next to the â€Å"New Comment† icon, and click â€Å"Delete All Comments in Document.† 4)   If you want to accept some changes and delete others, you can accept or reject changes and comments one at a time by right clicking on them individually. You will get a drop-down menu with choices of what to do. 5)   Repeat Step 1. Directions for MS Word 2008 for Mac 1)   Check to see if there are any comments or tracked changes in the document: Go to the â€Å"Review† tab and find the Markup Options  drop-down menu. Make sure there are check marks next to the first three items shown   (otherwise you might not see the comments or formatting changes when you look at â€Å"Final Showing Markup.†) 2)   If you do not see any changes or comments and you do not make any other changes to the document, you’re good to go. 3)   However, if you do see comments and tracked changes, you can do one of two things: 1. Change â€Å"All Markup† to â€Å"No Markup† and save the final document as a PDF. This solution works if the place you’re submitting your resume accepts .pdf files. 2. Accept all the tracked changes and delete all edits and comments (unless you only want to accept some of them, in which case see step 4). NOTE:   You need to delete edits SEPARATELY from comments! Go to the Accept  menu with the green checkmark, and select Accept All Changes. Go to the Delete  menu with the red X, and select â€Å"Delete  All Comments in Document.† 4)   If you want to accept some changes and delete others, you can accept or reject changes and comments one at a time by clicking on the icons with the left arrow or right arrow to move to the previous or next change and then click on the drop-down menus with the green checkmark or red X to   accept or reject each individually. 5)   Repeat Step 1. Important notes for all versions of Word: If you accept all changes before reviewing the document and there is a comment in the middle of your document like â€Å"(dates?)† then that change will be accepted and become a part of your document! Make sure you respond to all questions and make any revisions needed inside your document before accepting all changes. *ALWAYS* proofread your final document at least 3 times!   As much as The Essay Expert and other editors attempt to ensure that your documents are perfect, final approval is ultimately your responsibility. If you don’t want all your future edits to show up as marked on your document, turn Track Changes off by clicking on it.   It’s a toggled function.   Click it on, click it off. Finally, when you receive an edited document, whenever possible accept or reject the changes before making your own edits!   This practice will make it much easier to look at the NEW edits you have made to the document. Have Track Changes questions? Embarrassing Track Changes stories? Please share in the Comments below! Save

Chocolate and Confectionery Industry of Pakistan

Chocolate and Confectionery Industry of Pakistan Free Online Research Papers Confectionery and Chocolate industry of Pakistan in 2009 is an analysis of branded (domestically produced) confectionery and chocolate market of Pakistan. The article reveals close estimates of sales turn over of major active players in the industry. It also examines contemporary trends in the local confectionery and chocolate market, with an emphasis on providing some useful information about the structure, norms, challenges and competitive landscape of the industry. Before proceeding to our core topic, it would not be unwise to have a look at the snapshot of country’s socio-economic indicators. Pakistan- Snapshot: The Islamic Republic of Pakistan is a medium size, densely populated country with over 170 million people living in 796,095 square kilometres. With respect to population and area, Pakistan stands at no. 7 and no.43 respectively among the nations of the world. It is located at Southern Asia, bordering the Arabian Sea, between India on the east and Iran and Afghanistan on the west and China in the north. Pakistan, an impoverished and underdeveloped country, has suffered from decades of internal political disputes, low levels of foreign investment, and declining exports of manufactures. Faced with untenable budgetary deficits, high inflation, and haemorrhaging foreign exchange reserves. During 2004-07 GDP growth has been within the range of 6-8%. Inflation remains the top concern among the public, jumping from 7.7% in 2007 to 20.8% in 2008, primarily because of rising world fuel and commodity prices. In addition, the Pakistani rupee has depreciated significantly as a result of political and economic instability. Confectionery and Chocolate Industry – An overview: Despite Pakistan’s confectionery and chocolate industry has enjoyed an emerging and growing trend in the recent past yet its size and growth pattern has been far inconsequential compared to other countries of Asia-pacific region. The industry has grown with an average annual rate of 6.5 to 7.5 % during 2002-2008. Domestic brands dominate the market accounting for more than 85% of total value sales of the industry. The industry as a whole can be divided between two broader sectors namely organized sector (branded segment) and un-organized sectors (generic segment). The branded segment is more of monopolistic in nature where there are nine prominent, active players in the competitive landscape of this sector. However 80% of the industry’s share is being enjoyed by the five companies listed below. A brief overview of major companies’ estimated annual sales in PKR (1 US$= 83 PKR) is as follows: Company name Major Product lines Major brands Estimated annual turn-over PKR.(1US$=83PKR) Share % Hilal Candy, Bubble, Jellies, Chocolates, Beans, powder Drinks, Supari Ding Dong Bubble, Fresh up bubble, Tulsi, AamRus, Kopra candy Limopani 3.5 billion 26% Ismail Industries Ltd.(Candyland) Jellies, candies, lollypops, Chocolates, Biscuits, Snacks etc. Chillimili, Fanty candy, Now, Bisconi Chocolito, Cocomo, Snack city, Sonnet 2.8 billion 21% B.P sweets Jellies, candies, lollypops, Chocolates, Biscuits, Bread, Snacks etc. Spacer, Dolphin Jellies, B.P Lollies, Dream Chocolates etc. 1.7 billion 13% Cadbury’s Chocolates(Countlines and Moulded) Toffees, Chewable mint candies Dairy Milk Chocolate, Éclairs, Softmint, Velvet 1.5 billion 11% Kidco Bubbles candies, lollypops, Chocolates etc. 4ever, Centro-bubble, Lollies, Punch candy, Chox 1.20 billion 9% Mayfair Candies, Toffees, Creamers, Amrood candy, Éclair, Cafe biscuit 0.8 billion 6% Mitchell’s(only Confectionery Chocolates) Groceries ( Squashes, Jams, sauces, Chocolates- Moulded and Countlines , Toffees and candies Milk Toffee, Fruit BonBon, Butter Scotch, Jubilee, Golden Hearts 0.70 billion 5% DanPak Bubble Gum, Lolly Pops, Candies Chini mini, Fresh’ O bubble, Choco Bisco, Milko Sip 0.70 billion 5% Sweet Hills Candies, Toffees Dr. Milk, NutKut, Love candy , Cow 0.50 billion 4% TOTAL 13.4 Billion PKR Confectionery and Chocolate Market – An overview Characteristics: The branded confectionery and chocolate market is highly price elastic and growing with the bulk of sales concentrated in mid-price range products. Urban markets account for the major share and also for a higher penetration rate. Various retail price points exist within the mass market segment of chocolates between the range of PKR 3-25. In Sugar Confectionery major running confectionery items fall into the retail price segment of Rs. 0.50-1.00. The efforts made for the induction of Rs.2 Confectionery unit by industry giants have gone into vain so far. However Rs. 2 and 3 are popular price points for lolly pops and chocolates range. The industry has faced â€Å"coin-barrier† issue in sugar confectionery products at least three times during last three decades when all key players unanimously agreed to increase their products’ price due to escalating prices of raw materials (first from 25 paisa to 50 paisa- in mid 80’s, than 50 paisa to Rs. 1 †“ in mid 90’s and lastly from Rs.1 to Rs.2-in late 2008) whereby the active players of the industry were compelled to raise their prices not less than any thing but 100% because next jump to coin / price denomination was such that they had no way out. It would be interesting for the readers to learn that such moves however have always been proved to be a â€Å"bitter pill† for the industry as it brought immense resistance from consumers and trade. In some of the cases decline in sales as a reaction of price increase was so huge that it forced to leading brands to take their decision back yet they were not able to retrieve their original volumes again. Mitchell’s Milk Toffees and Kidco 4ever are classic examples. To avoid and defer this situation (up to last extend) pro-active companies in Pakistani confectionery industry adopt three kinds of strategies , without reducing or with slightly reducing trade margins, namely Reduce the no. of units per pack, unit siz e, and packaging ( in an endeavour to reduce cost) Compromising in product quality by reducing qty and/or quality of expensive raw material. By using close substitute that is available relatively at cheaper price as a replacement of expensive raw materials. Distribution and Selling strategy: About (70-80) % sugar confectionery and chocolate sales generate through wholesale channel depending upon the nature of product and strategies of manufacturing companies. Almost all but precisely Hilal and B.P rely much on wholesale channel to generate bulk chunk of their total sales. To support their sales through this channel they advertise heavily on electronic media to create brand pull for their brands and subsequently it force retailers to buy these brands from whole sale. The underlying reason behind limited coverage in retail sector by these two companies is they do not have premium priced items that could yield sufficient revenues to make retail distribution viable for their distribution partners so they do a limited coverage in retail sector. Since these companies themselves do not emphasize on retail penetration so their distributors also take an escape route and adopt the way of easy selling through WS. However there are companies like Cadbury, Candyland, Mitchell’s and Mayfair that are fully aware of the importance of retail penetration .Hence these companies pay due importance and attention to retail coverage and subsequently allocate resources for retail sector. As stated earlier the emphasis of Hilal and B.P has always been on building consumer pull through mass media advertising ( mostly through television) and pushing their brands through wide-spread network of distributors and wholesalers throughout the nation . This combination of â€Å"Push Pull â€Å" has proved to be a successful tool in their cases because the nature of their brands also support this strategy as they produce products of mass market with as low price as Rs.1 , 2 and beyond. Because of this pricing strategy their products are equally popular in rural and urban towns among middle and lower middle class. B.P and Hilal having this advantage enjoy the benefits of a wide-spread distribution network in 300+ towns and over 350 dist ributors nation wide (as they have more than one distributors in some towns). They always try to adopt cost leadership strategy and generate revenues through high volumes of sales. Frequent launches, re-launches, re-introduction of old brands with slight modifications, withdrawals, adjustments in packaging, product designing and even recipe change are a common phenomenon in the brands of these two major companies. Contrary to this Cadbury’s , Candyland and Mitchell’s believe on establishing brands and brand equity and therefore protraction of quality up to last possible extend remains their top priority. Popular Brands , Price point and Trades’ margins: Popular Brands: In hard-boiled (candy) category: Price range 0.50 paisa-Re.1: Fanty (Candyland), AamRus (Hilal), Choran Chatni (Hilal), Kopra candy (Hilal), 4ever (Kidco), Butter Scotch (Candyland) and (Mitchell’s), Amrood (Mayfair), Creamers (Mayfair) and Fruit Bonbons (Mitchell’s) are famous brands. In soft-boiled (Toffees) category: Price range 0.50 paisa-Re.1: Spacer (B.P) – a brand of 450- 500 million PKR, Milk Toffee (Mitchell’s)- brand worth over 250 million PKR and Éclairs (Cadbury’s) can be ranked top three among others in this category. As of today (August 2010) there hardly exist any 50 paisa confectionery unit, those that were available, have been switched to Rs.1 price point. In Lolly Pops: Price range Re.2- Rs.3/- : twin-lolly (B.P), Paint n Pop (B.P), Kidco Pop (Kidco), Funny Bunny (Candyland) are popular among consumers. In Enrobed Chocolate category: Price range Re.1- Rs.5/- : Jubilee (Mitchell’s), 5 Star ( Cadbury) Perk (Cadbury’s), Now (Candyland), Dream (B.P), Choco Dip (B.P), Kat Kat (B.P) Unitee (Mitchell’s), Sonnet (Candyland), Luxuree (Mitchell’s), Chox (Kidco) and Paradise (Candyland) enjoy major share in the market. In Moulded Chocolate category: Price range Re.2- Rs.10/- :Dairy Milk (Cadbury’s), Cone (B.P), Mr. Bear (B.P) Twin Rabbit (B.P), Golden Hearts ( Mitchell’s), Velvet (Cadbury’s) are famous among other brands. In Bubble: Rs.1: Ding Dong (Hilal) in Rs. 1 and recently launched in Rs. 2 as well. The brand has worth about 1000 million PKR, Fresh Up (Hilal) – retail Rs.5/-, Tiger (Mayfair) and Kidco Bubble, Centro (Kidco) are leading brands. Though retailer’s margin varies from companies to companies and product to product but generally acceptable margin in local items for retail trade is between 15-25%. It is lower for fast-moving brands and higher in the case of slow-moving items. Drivers, Challenges and Key Trends: Drivers: Until mid 80’s chocolates was supposed to be the product of upper and upper middle class segment. In 1983 Mitchell’s Jubilee was launched first time in Pakistani market at Rs.3.50 per bar. Due to its attractive packaging, quality, affordable price and an intact media support the brand received un-matched reception and became a success story in Pakistani industry. The brand is still very popular among masses and available in three different price points at Rs.2, Rs.5 and Rs.10. In early 2000 Cadbury’s introduced quality products with affordable price. The launch of Dairy Milk (Rs.5/-), 5 Star (Rs.5/-), Velvet (Rs.5/-) and Perk (Rs.3) with attractive dispensing-chillers was the turning and revolutionary point for making chocolates the choice for every one. The role of Cadbury’s for expansion of chocolate market in Pakistan will always be written in golden words. Challenges: The most common challenges to this industry are soaring prices of raw material, high excise and import duties on raw material, high entry barrier because of strong monopolistic competition and influx of cheap imported brand through gray-Channels. Trends: Driven by marketing initiatives, consumer preferences are speedily changing in the favour of chocolates. Independent retailers and wholesalers are still the largest channel contributors however the role of International modern trade (Makro, Metro and HyperStar) is growing at the increasing rate. Foreign or imported brands are successfully targeting the lucrative premium segments in urban population. Nestle has recently revamp their sales and distribution management system through appointment of one of the leading distribution house in Pakistan. Large retailers and wholesalers have already started private imports by paying less import duties through tax evasions. The largest bakery and confectionery chain of Lahore is also considering for launching their own chocolate brands in a bid to grow their private label sales. Keeping these positive signs in mind one could expect that future of Chocolate and Confectionery market of Pakistan is promising. ABOUT THE AUTHOR: Saif Dewan is a Brand, Sales and Distribution management specialist, brings with him fifteen years of blended experience of (FMCG) Sales, Marketing and Distribution Management. He has been associated with leading organizations of Pakistan including Mitchell’s and B.P sweets where he worked at strategic management positions . Dewan is presently associated with Muller Phipps Pakistan (Pvt.) Ltd., as Business Development Manager. He has diverse experience in conducting strategic sales management, team building and leadership programs for organizations such as Mitchell’s, B.P Industries, Muller Phipps Pakistan, Meezan Bank, EFU General Insurance , Premier Agencies and many renowned educational institutions including University of Karachi and SZABIST etc. He received his Hons. and Master’s Degree at the University of Karachi, where he majored in economics, with marketing and management. Research Papers on Chocolate and Confectionery Industry of PakistanDefinition of Export QuotasInfluences of Socio-Economic Status of Married MalesPETSTEL analysis of IndiaMarketing of Lifeboy Soap A Unilever ProductTwilight of the UAWAnalysis of Ebay Expanding into AsiaNever Been Kicked Out of a Place This Nice19 Century Society: A Deeply Divided EraBionic Assembly System: A New Concept of SelfOpen Architechture a white paper

Leadership in Workplace Research Paper Example | Topics and Well Written Essays - 1500 words

Leadership in Workplace - Research Paper Example Trust is the basis for success in every interpersonal association, both individual as well as social. Trust is the assurance or confidence an individual feels for a particular person or group. Thus, trust is one of the most important connecting forces in any interpersonal association. It allows individuals to rise above uncertainties and have peace of mind. The lack of trust creates uncertainty, concern, and apprehension. When interpersonal trust is there, a person experiences an assurance that everything will work out in some way. At the place of work, trust is a must for successful interpersonal interactions. Lacking trust, workers may experience ambiguity, anxiety, and a sense of uncertainty. No association, on individual or social level, can survive for even a small period of time if some aspect of trust is not there. Trust is an important leadership training component that unites any human association into a successful, effective partnership. Importance of Building Trust â€Å" Trust is an emotional as well as a rational act† (Reina & Reina, 2006). The emotions linked with it consist of friendliness, appreciation, safety, assurance, recognition, awareness, esteem, admiration, fondness, positive reception, satisfaction, and contentment - all of them essential components of psychosomatic wellbeing. â€Å"The logic of it is grounded in assessments of a party’s dependability, which play a significant role in decisions to trust† (Bednarz & Pawlak, 2011). As anticipated, there are various intensities to trust, reliant on why one gives trust as well as why it is acknowledged: identifying the different forms of trust informs decision making on every level. Within organizations, business processes are carries out by means of interaction. In view of the fact that trust is the basis of successful dealings, it makes sense that organizations can gather advantages from reinforcing it. In fact, high-trust situations associate completely with high leve ls of human resources participation, dedication, and organizational accomplishment. Certain benefits incorporate better assessment; accelerated development; better modernization; encouraging, transparent associations with employees and other shareholders; improved teamwork and collaborating; completely aligned structures and methods; sharp reliability; dominant involvements of flexible energy; strong improvement, commitment, assurance, and devotion; enhanced implementation; better adaptableness; and robust maintenance and replacement of well-informed staff. â€Å"Nothing is as relevant as the ubiquitous impact of high trust† (Bednarz & Pawlak, 2011). Trust - A Key Leadership Ability In companies, executives are originators of trust and are required to play a vital role in finding out its general level as well as particular beliefs in individual work units. Their capability to start, develop, expand, and reinstate trust is a most important managerial proficiency. A number of i ndividuals say that expanding trust is the primary job of every manager, to be carried out in ways that release the flair, imagination, aptitude, and involvement of individuals as well as teams and allow them to offer their best in synergy with others. The tasks of leaders cover five