Business assessment Assignment Example | Topics and Well Written Essays - 3000 words

Business assessment - Assignment Example Recommendations 15 8. References 16 9. Appendix 19 1.0 Introduction Purpose of the Report The purpose of this report is to provide a critical comparative analysis of two organisations in the way they are operated and managed. This is to help us in discovering what causes success or failure for organisations and how different organisations adapt to dynamic environment. Organisations not flexible enough to adapt to the environment are unable to attract and retain talented employees or take advantage of available opportunities hence cannot achieve organisational effectiveness. Scope of the Report To analyse the operation and management of the two organisations the report will consider how they are structured and designed so as to show the interrelationships between roles and departments and lines of authority. Secondly, report will cover organisation of work especially the use of teams and team working. Thirdly, it will analyse the approaches to leadership and management adopted by the organisations as this determines their success or failure. The report will then analyse the organisational culture and its impact on the organisations operations and lastly, conclusions and recommendations will be made on how to improve operations and management. Organisations Background Biogenta is a manufacturing company producing crop-protection products and whose mission is to be the most trusted provider of crop-protection products in the world. It has manufacturing facilities in 10 countries and employees in over 80 countries. Contrary to popular belief that large size companies are bureaucratic in nature, Biogenta has an organic structure and a matrix design where individuals belong to a functional area and a project team. The chief executive officer, Jane Morgan is an effective leader and manager whose encouragement of creativity and innovation has pushed the company to greater heights. The company has a very strong culture which emphasizes on learning and development, diver sity and corporate social responsibility. Outback Inc is a traditional organisation run by family members. It offers tourism services to wide range of clients and operates in a very turbulent environment. Being a small organisation, it is expected to have an organic structure but instead, it is bureaucratic in nature with a functional design and little or no teamwork. Creativity and innovation is hindered by its autocratic leadership style. The company has no vision or mission and has a high turnover culture due to lack of opportunity for advancement and employee voice. 2.0 Organisational Design and Structure Benowitz (2011, p.70) defines an organization structure as â€Å"the configuration and interrelationships of positions and departments†. An organisation design on the other hand, is the change of an organization structure to enable it to respond effectively to environmental changes. A poor organization design and structure can lead to lack of co-ordination among function s, slow decision making, and role confusion (Corkindale, 2011). Types of Organisation structure An organisation structure is determined by the degree of complexity, formalisation, and centralisation. Complexity reflects the amount of differentiation in an organisation; formalisation shows the degree to which an organisation uses rules and procedures to direct behaviour while centralisation reflects how power and authority is distributed in an organisation. Gitman and McDaniel (2008) recognise two kinds of

Minds Are Opened Only When Hearts Are Opened Essay Example for Free

Minds Are Opened Only When Hearts Are Opened Essay â€Å"Minds are like parachutes. They only function when they are open.† James Dewar To create the life that you want, growing as a human being and regularly experiencing a prosperous lifestyle, you will need a mind open to other people, possibilities, ideas and opinions around you. When you have an open mind you allow yourself to attract and follow up on opportunities. When you work with the power of the conscious and subconscious mind you will attract opportunities that will bring you what you need; for what you radiate you will constantly attract. When you are prepared to become creative you will create a vibrant life, while eliminating negative and unwanted situations. Most people think they already listen to others with an open mind, merely by paying close attention to what is being said. In fact, keeping an open mind is not easy to do if you are happy with the way you are doing things and do not see the point of changing. We all have moments, however, when we do listen with an open heart and mind, for example, we are more open to listening to someone we trust. An open mind is an understanding mind which will develop a genuine appreciation for people. When you take the trouble to think of other people’s feelings, their viewpoints and their desires you are saying â€Å"people are important†. An open mind will accept other people unconditionally. It requires the letting go of likes and dislikes and other similar emotions. When you do this you discipline your emotions and you allow people to be who they are with all their idiosyncrasies, differences and irritations. When you are communicating with others there can often be misunderstandings and these can lead to failure in your relations with others. We expect others to react and respond and come to the same conclusions we do over a given set of facts. Unfortunately, no one reacts to things as they are but to their own mental images; they are responding appropriately to what they see as the truth about the situation. An open-minded person will ask themselves â€Å"How does this appear to that person?† or, â€Å"How does that person interpret the situation?† and they will try to understand why someone might act differently to the way they expected. Many small business owners have faced extinction because they thought they knew it all and were not prepared to have an open mind and listen to others who had been down that path before them. When you are open minded you are always prepared to be teachable, to learn something new and take advantage of opportunities that present themselves. An open mind is the doorway to expansion of ideas. When you open your mind you are not compromising your ethics and values. It just means that you begin to practice a greater sense of awareness and in doing so you are prepared to look at your world a little differently. Test opportunities that are presented to you and examine where the message is coming from. It may be from a friend, a neutral party or from a source about which you are sceptical. If you are not sure, instruct your subconscious mind to guide you by simply saying, â€Å"I am making the right decision.† Focus on what you want, not on what you don’t want. A Closed Mind â€Å"A closed mind is like a closed book; just a block of wood. – Chinese Proverb. We have all been given the power to develop ideas and exercise free will. Unfortunately too often those ideas die as a seed and people use their free will to close their mind to the tremendous opportunities surrounding them. This stubbornness prevents them from achieving the goals that they want for themselves and so the opportunity for success is greatly decreased. In our formative years we grow and develop egos that maintain very particular ideas about ourselves in relation to the world around us. Your ego is your conscious mind, that which controls your behaviour and tries to give meaning to your external, material reality. It is powerful and can control your life if you allow it. Your external reality is a direct result of your mental and spiritual self so if the latter two are not where you want them to be your external and material self will suffer. The ego cannot improve the quality of your mental and spiritual life. When you close your mind you essentially become stubborn and become a victim of the ego mind which says, â€Å"My attitude is right despite what anyone else has to say†. The ego mind, although it thinks it knows better than anyone else, is never prepared to leave its comfort zone and so is not open to new ideas nor will it welcome others into its world. This kind of attitude shuts you off from the process of life and nature which is about growing and experiencing new possibilities. Think about how many times you were resistant to trying something new only to eventually give in and discover that you really enjoyed the process. Limitations are the jail of the mind so if you can throw off the shackles and open your mind to new and exciting ideas, your possibilities become limitless. When the mind is shackled and limited it affects every part of your life, for example, work presentations can lack innovation and impact and even every-day conversations are less productive and rewarding. Conversations often become defensive as the mind closes off to what is being said by others. Society today gives out a negative message that everyone is out to ‘take you down’ and that if it ‘looks to good to be true, it probably is’. This causes many to close their minds to everything beyond their current knowledge. An open mind is a mind that is aware that the current knowledge is not all there is to know and will eagerly investigate possibilities. When you have a closed mind to new and exciting possibilities you essentially tell yourself that you are not willing to go the extra mile – that you are not willing to grow and experience new things. You have now switched off the power within you and there can be no change and no progress in life and things will never improve. Such people become very introspective and weak. The old recordings of the past can, however, be changed. If you choose, you can wipe the old record clean, put on a new record and make a decision to activate the positive thoughts which lead to a relaxed and open view of the world. Remember, the past explains how you got to the present but where you go from here is your responsibility. In his book A Vision of Power Glory, John Kehoe gives a Zen parable about two monks who are on a journey together when they come to a river. By the river there is a beautiful woman. The woman asks them, â€Å"Please will one of you monks carry me across the river? The river is too wide and the current too swift.† The two monks look at one another, because they have taken a sacred vow to not so much as even touch a woman. Then, abruptly, the older monk picks up the woman, carries her across the river and puts her down on the other side. They continue on their journey. The younger monk is flabbergasted. He can’t believe it. An hour goes by and not a word is spoken between them. Two hours. Three hours. And finally, after four hours, he turns to the older monk and blurts out, â€Å"How could you have done that? How could you have carried that woman?† â€Å"Oh?† responds his companion, â€Å"Are you still carrying her? I put her down four hours ago.† John Kehoe goes on to say, â€Å"How much are we still carrying around inside us that should have been put down a long time ago? Disappointments; regrets; failures; grudges. How much junk are we carrying around inside us and how long are we going to carry it? All our life?† If you want to change and improve your attitude to life then it is imperative that you keep an open mind. That is not to say you will be taken in by every ‘fly-by-night’ scheme that may be put before you. An open mind is curious and investigative and examines new things. Your creative power system uses your conscious and subconscious mind to attract, explore and check out new opportunities so that you can begin achieving your goals and creating the life you want. Don’t limit yourself; learn how to attract new possibilities and make the right decisions by developing the power of your mind and heart. If you move in your community with an open mind and an open heart you can learn to accept others. You don’t have to agree with them, but accept who they are and feel free to express yourself. I remember a friend of ours who has passed on now, who was well-known and well-liked in community affairs. He met many people as he moved around and sometimes in a gathering he would be heard to say, â€Å"There’s a fellow over there I met recently and I didn’t like him; I must go over and get to know him better†. He would always come away with a new-found friend; now that’s an open mind and open heart.

Death, Decay and Disease in Hamlet :: Shakespeare Hamlet Essays

Death, Decay and Disease in Hamlet Within ‘Hamlet’, Shakespeare makes a number of references to Denmark's degraded state due to the deceit that lies within. These references are made by Hamlet, Horatio as well as the apparition, thus enforcing the strong theme of death, decay and disease. As aforementioned Hamlets makes a number of references to Denmark. Preceding the death of his father and the marriage of his mother, his mental state begins to fall into demise . Although he appears to not have much courage at first, his focus remains on avenging his father whose murder is described as being "most foul." As noted in one of Hamlet's first soliloquies, his downward spiral has already began and already he is contemplating suicide; "O that this too too sullied flesh would melt, thaw, and resolve itself into a dew (I, II, 130)" and "seems to me all the uses of this world... Things rank and gross in nature posses it merely (I, II, 136)." To be degrading to be thinking of imagery including flesh melting shows that Hamlet is not in the state that he ought to be in. Furthermore Shakespeare encourages us to empathize with these emotions by using such rich descriptions. It could be perhaps argued that Hamlet's state of mind which has become debased, but this is until Horatio claims, "Something is rotten in the state of Denmark (I, IV, 90)." The notion of festering carrion being a metaphor for King Hamlets death epitomizes this notion. The ghost furthers this idea by stating at the moment of his death, his skin became "Most lazar-like with vile and loathsome crust all my smooth body (I, V, 72)." This attempts the elucidate on the feeling of death almost like becoming like a leper before death finally takes its toll. Decay also becomes a strong theme weighing heavily on Hamlet's mind. Whilst talking to Polonius he says, "For if the sun breed maggots in a dead dog, being a good kissing carrion (II, II, 182)." Although Polonius' appears not to notice this, we can see the constant references to death being made by Shakespeare’s tools, i.e. the characters. Moreover associated with Shakespeare's use of decay and disease imagery is his use of horror, "Roasted in wrath and fire thus o'ersized with coagulate gore (II, II, 431)," is a perfect example of this.

Reflection of Team Work

The team project determined to be an excellent example of teamwork. Teamwork is essential in any type of career, and by doing team projects while still in school will continue to help me prepare for my future. The John Deere Dealership Program that I helped work on proved to be a success. Not only did the team learn how to work as a team; the team is leaving something at this university that will help students in the future. I feel that if this program is implemented, many students can benefit from this internship experience. I just wish that this program had been implemented four years ago so my colleagues or I might have had a chance to participate in this program. The project itself turned out to be a great learning experience for every member of my team, including myself. A student’s school and work schedule is tough enough to work out, but when there are four different schedules to work around one must collaborate with the other three to work out meeting times. The team I participated with worked out meeting times the best we could. I believe that this is an experience that each member should remember in the future, especially when we have to form meetings with colleagues in our career. While working on this team project conflict arose, and we had to overcome these conflicts. Conflicts are a big part of any team because of the amount of people working as a team. Conflicts are bound to arise, and each person must realize that their idea is not always right. I believe that knowing ahead of time that conflicts will arise that team should run a lot smoother. Communication is also a key to a successful team. If a person is reluctant to communicate with the rest of the team, his of her ideas will not be expressed in a completed project. I feel that in small teams like we had, it helps a backward person become involved due to the small amount of people in the group. I believe that every person’s opinion is important in running a team, and I will try to get every person’s input before a final decision is made. The presentations that each team gave in front of the class proved to be a good experience for every member of each group. Some people are more comfortable than others in public speaking, but through the presentations, a backward speaker gets experience in speaking in front of people. I believe that experience is the only way to become comfortable speaking in front of eople. Overall, I have thoroughly enjoyed this project. Each step of completion from the ground up was a great experience. I enjoy seeing our finished product, and enjoy people liking what our finished product looks like. I think all the hard work and conflicts pay off when I see a completed project. It has been a great team building experience for me, and I feel that the completion of this team project will help me in future team oriented projects.

Applications of amortization

amortization Definitions (2) 1. The gradual elimination of a liability, such as a mortgage, in regular payments over a specified period of time. Such payments must be sufficient to cover both principal and interest. 2. Writing off an intangible asset investment over the projected life of the assets. Read more: http://www. investorwords. com/200/amortization. html#ixzz2GXWACfP2 Applications of amortization In business, amortization refers to spreading payments over multiple periods. The term is used for two separate processes: amortization of loans and amortization of intangible assets. Amortization of loansIn lending, amortization is the distribution of payment into multiple cash flow installments, as determined by an amortization schedule. Unlike other repayment models, each repayment installment consists of both principal and interest. Amortization is chiefly used in loan repayments (a common example being a mortgage loan) and in sinking funds. Payments are divided into equal amoun ts for the duration of the loan, making it the simplest repayment model. A greater amount of the payment is applied to interest at the beginning of the amortization schedule, while more money is applied to principal at the end.Commonly it is known as EMI or Equated Monthly Installment. [1] or, equivalently, where: P is the principal amount borrowed, A is the periodic payment, r is the periodic interest rate divided by 100 (annual interest rate also divided by 12 in case of monthly installments), and n is the total number of payments (for a 30-year loan with monthly payments n = 30 ? 12 = 360). Negative amortization (also called deferred interest) occurs if the payments made do not cover the interest due. The remaining interest owed is added to the outstanding loan balance, making it larger than the original loan amount.If the repayment model for a loan is â€Å"fully amortized,† then the very last payment (which, if the schedule was calculated correctly, should be equal to al l others) pays off all remaining principal and interest on the loan. If the repayment model on a loan is not fully amortized, then the last payment due may be a large balloon payment of all remaining principal and interest. If the borrower lacks the funds or assets to immediately make that payment, or adequate credit to refinance the balance into a new loan, the borrower may end up in default. Amortization of intangible assetsIn accounting, amortization refers to expensing the acquisition cost minus the residual value of intangible assets (often intellectual property such as patents and trademarks or copyrights) in a systematic manner over their estimated useful economic lives so as to reflect their consumption, expiry, obsolescence or other decline in value as a result of use or the passage of time. A corresponding concept for tangible assets is depreciation. Methodologies for allocating amortization to each accounting period are generally the same as for depreciation.However, many intangible assets such as goodwill or certain brands may be deemed to have an indefinite useful life and are therefore not subject to amortization (although goodwill is subjected to an impairment test every year). Amortization is recorded in the financial statements of an entity as a reduction in the carrying value of the intangible asset in the balance sheet and as an expense in the income statement. Under International Financial Reporting Standards, guidance on accounting for the amortization of intangible assets is contained in IAS 38. 2] Under United States generally accepted accounting principles (GAAP), the primary guidance is contained in FAS 142. [3] While theoretically amortization is used to account for the decreasing value of an intangible asset over its useful life, in practice, many companies will â€Å"amortize† what would otherwise be one-time expenses by listing them as a capital expense on the cash flow statement and paying off the cost through amortization, thereby improving the company's net income in the fiscal year or quarter of the expense Amortization schedule An amortization schedule is a table detailing each periodic payment on an amortizing loan (typically a mortgage), as generated by an amortization calculator. Amortization refers to the process of paying off a debt (often from a loan or mortgage) over time through regular payments. A portion of each payment is for interest while the remaining amount is applied towards the principal balance. The percentage of interest versus principal in each payment is determined in an amortization schedule.While a portion of every payment is applied towards both the interest and the principal balance of the loan, the exact amount applied to principal each time varies (with the remainder going to interest). An amortization schedule reveals the specific monetary amount put towards interest, as well as the specific amount put towards the principal balance, with each payment. Initially, a large portion of each payment is devoted to interest. As the loan matures, larger portions go towards paying down the principal Methods of amortizationThere are different methods in which to arrive at an amortization schedule. These include: †¢Straight line (linear) †¢Declining balance †¢Annuity †¢Bullet (all at once) †¢Balloon (amortization payments and large end payment) †¢Increasing balance (negative amortization) Amortization schedules run in chronological order. The first payment is assumed to take place one full payment period after the loan was taken out, not on the first day (the amortization date) of the loan. The last payment completely pays off the remainder of the loan.Often, the last payment will be a slightly different amount than all earlier payments. In addition to breaking down each payment into interest and principal portions, an amortization schedule also reveals interest-paid-to-date, principal-paid-to-date, and the remaining principal ba lance on each payment date. Example amortization schedule This amortization schedule is based on the following assumptions: First, it should be known that rounding errors occur and depending how the lender ccumulates these errors, the blended payment (principal + interest) may vary slightly some months to keep these errors from accumulating; or, the accumulated errors are adjusted for at the end of each year, or at the final loan payment. There are a few crucial points worth noting when mortgaging a home with an amortized loan. First, there is substantial disparate allocation of the monthly payments toward the interest, especially during the first 18 years of the mortgage. In the example above, payment 1 allocates about 80-90% of the total payment towards interest and only $67. 9 (or 10-20%) toward the Principal balance. The exact percentage allocated towards payment of the principal depends on the interest rate. Not until payment 257 or 21 years into the loan does the payment alloc ation towards principal and interest even out and subsequently tip the majority of the monthly payment toward Principal balance pay down. Second, understanding the above statement, the repetitive refinancing of an amortized mortgage loan, even with decreasing interest rates and decreasing Principal balance, can cause the borrower to pay over 500% of the value of the original loan amount. Re-amortization' or restarting the amortization schedule via a refinance causes the entire schedule to restart: the new loan will be 30 years from the refinance date, and initial payments on this loan will again be largely interest, not principal. If the rate is the same, say 8%, then the interest/principal allocation will be the same as at the start of the original loan (say, 90/10). This economically unfavorable situation is often mitigated by the apparent decrease in monthly payment and interest rate of a refinance, when in fact the borrower is increasing the total cost of the property.This fact is often (understandably) overlooked by borrowers. Third, the payment on an amortized mortgage loan remains the same for the entire loan term, regardless of Principal balance owed but only for a fixed rate, fully amortizing loan. For example, the payment on the above scenario will remain $733. 76 regardless if the Principal balance is $100,000 or $50,000. Paying down large chunks of the Principal balance in no way affects the monthly payment, it simply reduces the term of the loan and reduces the amount of interest that can be charged by the lender resulting in a quicker payoff.To avoid these caveats of an amortizing mortgage loan many borrowers are choosing an interest-only loan to satisfy their mortgage financing needs. Interest-only loans have their caveats as well which must be understood before choosing the mortgage payment term that is right for the individual borrower. 3 Amortization calculator An amortization calculator is used to determine the periodic payment amount due on a loan (typically a mortgage), based on the amortization process. The amortization repayment model factors varying amounts of both interest and principal into every installment, though the total amount of each payment is the same.An amortization schedule calculator is often used to adjust the loan amount until the monthly payments will fit comfortably into budget, and can vary the interest rate to see the difference a better rate might make in the kind of home or car one can afford. An amortization calculator can also reveal the exact dollar amount that goes towards interest and the exact dollar amount that goes towards principal out of each individual payment. The amortization schedule is a table delineating these figures across the duration of the loan in chronological order.The formula The calculation used to arrive at the periodic payment amount assumes that the first payment is not due on the first day of the loan, but rather one full payment period into the loan. While normal ly used to solve for A, (the payment, given the terms) it can be used to solve for any single variable in the equation provided that all other variables are known. One can rearrange the formula to solve for any one term, except for i, for which one can use a root-finding algorithm. The annuity formula is: Where: †¢A = periodic payment amount P = amount of principal, net of initial payments, meaning â€Å"subtract any down-payments† †¢i = periodic interest rate †¢n = total number of payments This formula is valid if i > 0. If i = 0 then simply A = P / n. For a 30-year loan with monthly payments, Note that the interest rate is commonly referred to as an annual percentage rate (e. g. 8% APR), but in the above formula, since the payments are monthly, the rate must be in terms of a monthly percent. Converting an annual interest rate (that is to say, annual percentage yield or APY) to the onthly rate is not as simple as dividing by 12, see the formula and discussion in APR. However if the rate is stated in terms of â€Å"APR† and not â€Å"annual interest rate†, then dividing by 12 is an appropriate means of determining the monthly interest rate. Derivation of the formula The formula for the periodic payment amount is derived as follows. For an amortization schedule, we can define a function that represents the principal amount remaining at time . We can then derive a formula for this function given an unknown payment amount and .We can generalize this to Applying the substitution (see geometric progressions) We end up with For payment periods, we expect the principal amount will be completely paid off at the last payment period, or Solving for A, we get or After substitution and simplification we get 4 Negative amortization In finance, negative amortization, also known as NegAm, deferred interest or graduated payment mortgage, occurs whenever the loan payment for any period is less than the interest charged over that period so th at the outstanding balance of the loan increases.As an amortization method the shorted amount (difference between interest and repayment) is then added to the total amount owed to the lender. [1] Such a practice would have to be agreed upon before shorting the payment so as to avoid default on payment. This method is generally used in an introductory period before loan payments exceed interest and the loan becomes self-amortizing. The term is most often used for mortgage loans; corporate loans which have negative amortization are called PIK loans. Amortization refers to the process of paying off a debt (often from a loan or mortgage) over time through regular payments.A portion of each payment is for interest while the remaining amount is applied towards the principal balance. The percentage of interest versus principal in each payment is determined in an amortization schedule. 5. Amortizing loan In banking and finance, an amortizing loan is a loan where the principal of the loan is paid down over the life of the loan (that is, amortized) according to some amortization schedule, typically through equal payments. Similarly, an amortizing bond is a bond that repays part of the principal (face value) along with the coupon payments.Compare with a sinking fund, which amortizes the total debt outstanding by repurchasing some bonds. Each payment to the lender will consist of a portion of interest and a portion of principal. Mortgage loans are typically amortizing loans. The calculations for an amortizing loan are those of an annuity using the time value of money formulas, and can be done using an amortization calculator. An amortizing loan should be contrasted with a bullet loan, where a large portion of the loan will be paid at the final maturity date instead of being paid down gradually over the loan's life.An accumulated amortization loan represents the amount of amortization expense that has been claimed since the acquisition of the asset. Effects Amortization of debt has two major effects: Credit risk First and most importantly, it substantially reduces the credit risk of the loan or bond. In a bullet loan (or bullet bond), the bulk of the credit risk is in the repayment of the principal at maturity, at which point the debt must either be paid off in full or rolled over. By paying off the principal over time, this risk is mitigated. Interest rate riskA secondary effect is that amortization reduces the duration of the debt, reducing the debt's sensitivity to interest rate risk, as compared to debt with the same maturity and coupon rate. This is because there are smaller payments in the future, so the weighted-average maturity of the cash flows is lower. Weighted-average life Main article: Weighted-average life The number weighted average of the times of the principal repayments of an amortizing loan is referred to as the weighted-average life (WAL), also called â€Å"average life†. It's the average time until a dollar of principal is repaid. In a formula, where: †¢ is the principal, is the principal repayment in coupon , hence †¢ is the fraction of the principal repaid in coupon , and †¢ is the time from the start to coupon †¢ 6. Amortization (tax law) In tax law, amortization refers to the cost recovery system for intangible property. Although the theory behind cost recovery deductions of amortization is to deduct from basis in a systematic manner over an asset's estimated useful economic life so as to reflect its consumption, expiration, obsolescence or other decline in value as a result of use or the passage of time, many times a perfect match of income and deductions does not occur for policy reasons.Depreciation A corresponding concept for tangible assets is depreciation. Methodologies for allocating amortization to each tax period are generally the same as for depreciation. However, many intangible assets such as goodwill or certain brands may be deemed to have an indefinite useful lif e, or â€Å"self-created† and are therefore not subject to amortization

Strategic Thinking And Change Management The WritePass Journal

Strategic Thinking And Change Management Abstract Strategic Thinking And Change Management ). Threat of substitutes With intense competition in the Market, there is a potential threat of substitute products. In fact, as Netflix and Blockbuster battle it out, others are gaining ground in substitute offerings as seen with Video-on-demand which has grown at double digit rates in the past two years. Bargaining power of suppliers Suppliers are likely to have less purchase power especially given the acquisition of Movielink. If this acquisition leads to more online downloads, the company will have little need for plastic cases and DVDs and as such, the bargaining power of suppliers is likely to reduce (Janjua 2012). Intensity of competitive rivalry The rivalry in the market is definitely high. Already, Blockbuster has lost many of its customers to Netflix. The company must reinvent and implement strategies that would sway back customers. How Blockbuster can realign itself to the needs of the external environment The corporate strategy would require the company to capitalize on innovative emergent technologies to provide it with strategic breakthroughs in the competitive business environment, while not losing sight of its in-store operations (Fryman 2010). As such, a click and brick strategy would be more suitable for the company. Blockbuster must realigns its business processes with IT and use it in their favour. In realigning their business processes with IT, the company must access the strategic alignment model in terms of purpose, initiatives, project leadership, infrastructure and goals that will create a paradigm shift (Carr 2010). The realignment process must enable the company to embrace online opportunities which Netflix and Redbox have already perfected. Realigning business process with IT (Kalakota 2011) Whilst Blockbuster seems to have already embedded IT into their core business model as seen with the total access program which enhances online customers experience, this has not helped much as the company has lost most of its customers to online retailers such as Netflix and Lovefilm .The failure by the company to quickly adapt to the changing business environment and consumer habits is suggested to have been the main problem. The company took long to transform its business model and when it did, the competitive landscape had already been fundamentally altered and the tradition model destroyed by the new platform model (Carr 2010). The company needs to conduct a massive marketing campaign which should focus on growing their online rental subscriber base. The company could also form an alliance with cell phone companies and arranging with these companies to allow customers to stream movies on their cell phones.   This would be a great idea considering that people have their cell phones all the time. With larger cell phone screens, customers would be able to stream movies from anywhere including in the subways, bus stations and even at workplaces. Viewing could be per subscription or pay-per-view (Clark et al. 2013). Another strategic move would be to partner with airline companies in order to implement a blue box program at airports such as the Redboxes at McDonalds (Jordan 2011). The blue box program would enable travelers to pick up a movie at one airport and to return it to another airport or blockbuster store. Further, the company should focus on strengthening customer relationship management by implementing a business strategy that maintains relevant value across all its customer groupings and introducing new customer proposition initiatives that would provide them with an edge over their competitors (Afuah 2009). Additionally, Blockbuster needs to implement an ERP system that will enable it to track their inventories. The system can be implemented incrementally from one region to another. This will reduce the time and duplications that the company currently has, thereby increasing efficiency. Currently, for customers to check out their movies from different blockbusters, they are required to register with each store individually.   Given that the ERP system integrates data and allows for sharing of information across multiple departments, this may benefit the company through quicker processing of orders and faster shipments. . Whilst recognizing the need to realign business process with IT, the company should not to lose sight of its in-store operations. Customers of today have become savvier and are increasingly taking charge of their own shopping experience (Deloitte 2011). Retail stores must equally evolve to become part of the complex relationship between the retailer and customer by providing new ways of experiencing breadth and depth of range (Deloitte 2011). In-store theatre and a touch and feel experience around the product item should be able to sway more consumers back to shopping in high streets. Provision of personalized services and guided shopping experience should equally encourage more consumers to go back for rental services from the stores. Critique of contemporary strategic management research and practice But while strategic thinking and change management has a greater role to play in resuscitating high street retail stores, such practices are not always successful. For example, while the ERP system may increase the efficiency and effectiveness of management decisions, failure of such systems may adversely impact on the organization resulting in cost overruns and supply chain problems (Morgan Smith 2002). Moreover, a strategy formulation that positions a firm in a niche may narrow the firm’s perspective (Mintzberg et al., 1995). That is, such a strategy may overlook opportunity if they are only concentrating on a certain group of market. Another criticism is that strategic planning systems are designed as top-down planning systems and as such strategic decisions are only relegated to top management (Morgan Smith 2002). This implies that the planning systems serve to fulfill only the goals and interests of the top management and not that of the organization. Strategic management is based on rational decision making. But because most of the time we have incomplete information, fully rational decisions may not be possible and change process may result in adverse effects (Jofre 2011). Hence whilst change management may be intended at increasing the firms adaptability, structures developed to promote rationality may have opposite effect (Jofre 2011). Nonetheless, it is clear that high street retailers need to realign their business processes to meet demands of the changing business environment. Conclusion There is no doubt that the past few years have seen a crisis as major high street chains such as Blockbusters, Jessops, JJB sport, and Comet among many others go into administration. The collapse of well-known retailers into receivership is a clear indication of a declining fortune of Britains high streets. All these retailers which have gone into administration do share certain commonalities. They all tend to have a significant number of stores and have all had difficulty adapting to the changing business environment and retail habits. For these retailers to continue to thrive in the industry, they must reinvent and realign themselves to the needs of the external environment. For example, Blockbuster needs to realign its business processes with IT and use it in their favour. The company should adopt a click and brick strategy. That is, the company must embrace online opportunities without losing sight of its in-store operations. The company could also form alliances with cell phone companies to allow customers to stream movies on their cell phones. The company may as well partner with airlines and implement a blue box programs at the airports such as the Redboxes at McDonald. The company may also implement ERP systems to increase their efficiency and effectiveness of management decisions. Its retail stores must also evolve and should be able to provide customers with new ways of experiencing breadth and depth. In-store theatre and a touch and feel experience around the product item should be able to sway more consumers back to shopping in high streets. Provision of personalized services and guided shopping experience should equally encourage more consumers to go back for rental services from the stores. Reference Afuah, A., 2009. Strategic innovation: new game strategies for competitive advantage. University of Michigan. NewYork: Routledge publishers Anon 2013. A strategy life-cycle: Blockbuster. [Viewed on 22nd May 2013] available from http://strategydynamics.com/info/blockbusters-strategy.aspx Anon, 2013. The death of the high street or the birth of a new kind of retailer? [Viewed on 19th May 2013] available from enterprisenation.com/blog/the-death-of-the-high-street-or-the-birth-of-a-new-kind-of-retailer/ Janjua, A., 2012. Make it a blockbuster night. Blockbuster Carr, A., 2010. Blockbuster CEO, Jim Keyes, on competition from Apple, Netflix, Nintendo,  and Redbox. [Viewed on 19th May 2013] available from fastcompany.com/1656502/an-interview-with-blockbuster-ceo-jim-keyes-part-ii Clark, M., McKelvey, L., Robinson, B., Sampson-Rasberry, S., 2013. Blockbuster analysis. [Viewed on 20th May 2013] available from http://laurenmckelvey.wordpress.com/2012/05/01/blockbuster-analysis/ Deloitte, 2011. The changing face of retail. The store of the future: the new role of the store in a multichannel environment. Deloitte LLP. Ferrell, O.C. and Hartline, M., 2007. Marketing strategy. 4th edition. Cengage   Learning publishers Fryman, 2010. Transitioning business models: Are there any  businesses that successfully transitioned from brick-and-mortar to completely online? [Viewed on 19th May 2013] available from http://ask.metafilter.com/167587/Transitioning-business-models Hawkes, S., 2011. Jane Norman is high street fashion victim. The Sun. [viewed on 18th May 2013] available from thesun.co.uk/sol/homepage/news/money/3663189/Fashion-chain-Jane-Norman-becomes-the-latest-high-street-casualty.html Jofre, S., 2011. Strategic management: the theory and practice of strategy in (business) organizations. University of Denmark Jordan, A., 2011. The Effects of Netflix and Blockbuster Strategies on Firm Value. Claremont McKenna College Kalakota, R., 2011. ‘Brick, Click and Mobile: multi-channel strategies for satisfying your customers’. In: Mbusiness: the race to mobility. [viewedd on 20th May 2013] available from www.ebstrategy.com Konsynski, B.R., 1993. ‘Strategic control in the extended enterprise’. IBM Systems Journal, vol.32 (1), pp. 111-142 Miller, Y., 2010. Blockbuster analysis. [Viewed on 19th May 2013] available from keeparticles.com/blockbuster-analysis_a13497.htm Minton, A., Skelton, D., Sennett, R., Umunna, C. and Jones, E., 2013. How can we save the street? The Guardian. [viewed on 18th May 2013] available from guardian.co.uk/commentisfree/2013/jan/15/how-can-we-save-high-street Mintzberg, H., Quinn, J.B. and Ghoshal, S. 1995. The Strategy Process (European Edition), London : Prenctice-Hall. Morgan, N. and Smith, E., 2002. Contemporary issues in strategic management. Kagiso publishers Pettigrew, A.M., Homas, H. and Whittington, R., 2001. Handbook of strategy and management. Sage publications Porter, M. 1979. ‘How Competitive Forces Shape Strategy’, Harvard Business Review, vol.57 (2): 37-145. Shrivastava, P., 1986. ‘Is strategic management ideological?’ Journal of Management, vol.12 (3), 367-377 Todnem, R., 2005. ‘Organizational change management: a critical review’. Journal of Change Management, vol.5 (4), 369-380 Watkis, N., 2013. What can marketers learn from the surge of high street store closures? [Viewed on the 19th May 2013] available from mycustomer.com/topic/marketing/what-can-marketers-learn-high-street-store-closures/161721

Remake of Kolya essays

Remake of Kolya essays In the original film, Louka is 55 year old play boy who has nothing going for him. He used to work as a cellist for the Czech Philharmonic Orchestra until he got kicked out. These days, he plays funerals at the city crematorium. Strapped for cash and lacking many material comforts, Louka frequently indulges himself with the company of other men's wives. His change from within happens when he is left to care for a 5 year old boy left to him by his wife from a fake marriage. The boy, Kolya, teaches him to grow up, to mature, to be responsible, and to give up his bachelor lifestyle. To remake this film, I would set it in modern day New York perhaps. In this film, its about an Italian Mafia Godfather, played by Al Pacino, like Michael Corleone of The Godfather, who gets stuck with his estranged daughters child. In the life of this man, he is caught up in the day-to-day dealings with his dysfunctional family, his businesses both legal and illegal. He has no time to take a step back from everything and assess his life. Its one rollercoaster ride after the next. All his children have grown up. His sons are already enmeshed in the Mafia way of life. As for his daughter, she has chosen to disown her family because she doesnt approve of the lifestyle they live. Yes, they have all the comforts of material things, in fact they live quite lavishly but her moral conscience cannot take the idea that shes living in the lap of luxury because of blood money or other illegal means. The estrangement between father and daughter hurts the Godfather, of course. He blames his son-in-law for stealing his only daughter and decides to have him killed. Once this happens, his daughter goes crazy and he finds himself in the middle of the courtroom. The judge orders that shes unfit to look after her child and is placed in an asylum, while custody of her only child, a girl, played by Dakota Fanning, goes to ...