Emma hiring a professional consultant Essay Example | Topics and Well Written Essays - 500 words

Emma hiring a professional consultant - Essay Example And, again, instead of expansion by opening more stores or introduce franchising alternative, Emma could build an e-commerce infrastructure, acquire a point of sale system (POS) that would integrate all aspects of the business - from sourcing, stocking, to sales – among other strategies that integrate technology to the organization’s business operations. Developing computer/technological solutions could address issues of ergonomics, challenges in data access, communication, customer service, speed and cost constraints, among many other dimensions. There are a number of questions that Emma could ask Dr. Lipscomb. Three of these follows: 1) Is small business preferable than expanding it to a medium sized one in the context of Emma’s capability, skills, goals and interests; Would it be more profitable, considering the previous variable?; 2) What are the risks and variables that would threaten the business both in the short term and long-term; and, 3) What is the best model to be adopted in order to efficiently run the organization? The most important information that Dr. Lipscomb should identify is the owner’s preferences, personality and goals. So the first questions should be about these so that he could tailor the solution and strategy he would be able to develop for the small organization. Other questions should attempt to determine Emma’s willingness to change her perspective, lifestyle even some of her objectives in order for the organization to grow. For example, Is Emma willing to delegate the responsibility of immediate day-to-day problems so that she could concentrate on the wider and long-term issues; or, is she willing to sacrifice more of her time so she could focus on running her business.

Balanced Scorecard Essay Example | Topics and Well Written Essays - 2000 words

Balanced Scorecard - Essay Example Although the first Balanced Scorecard was designed by Art Schneiderman in 1970, the concept of Balanced Scorecard was extensively developed and widely popularized by Robert S. Kaplan and David P. Norton. According to them, a Balanced Scorecard â€Å"defines the set of near-term objectives and activities, the drivers that will differentiate a company from its competitors and create long-term customer and shareholder value, the outcomes.† (Kaplan & Norton, 2001, p.76). The most fascinating feature of a Balanced Scorecard is that a set of financial and non-financial tools are presented in a single succinct report by comparing each tool to a ‘target’ value. This strategic performance management tool was developed with intent to replace traditional operational reports and to present a concise summary that includes the most relevant information. The first versions of Balanced Scorecard held the view that its relevance was greatly related to corporate strategy and the pr oposed design methods. As noted by Kaplan & Norton (2001), during the initial stages, it was believed that this tool would most fit the needs and requirements of mid-sized firms and hence the model was mainly employed to measure aspects like customer, internal business processes, and learning and growth (pp.76-77). This tool was periodically modified and it became popular across the globe by the end of the 20th century. However, modern management experts argue that this model is not sufficient enough to manage complex strategy implementation processes. This paper will critically analyze the potential limitations of the approach while comparing it with the emerging approaches to organizational strategy. Limitations of the Balanced Scorecard approach It is identified that the Balanced Scorecard model of Kaplan and Norton is not really effective. In the modern complex business environment, setting right objectives and following them properly is extremely essential to ensure the sustain able development of any organization. In order to follow the objectives properly, it is absolutely vital to monitor every action with a more strategy focused measurement system. Today’s scholars opine that the Balanced Scorecard model is not so optimal and strategy focused; and therefore, this system cannot ensure a sustainable business environment. In the view of Rillo (2004), one of the most noticeable limitations of the Balanced Scorecard model is that it could not effectively connect cause and effect relations time-wise. The author continues that an important strength â€Å"that the Balanced Scorecard is claimed to possess is the strong causal interrelations between the different elements that are mapped using the core strategy of an organization as a source as the financial measures have been considered merely a reflection of past activities already taken place† (Rillo, 2004). Critics argue that this model is not supported by the Hume criterion for cause and effec t relationship, which states that one activity leads another in time and there exists a causal connection between these two activities. Furthermore, it seems that this concept does not give necessary emphasis on time factor, which is vital to ensure the success of a strategy execution process. Likewise, Kaplan and Norton (2001) tell that strategic objectives must be categorized into budgetary measures so as to be pursued on predetermined basis (pp.294-296). As per this view, different objectives cannot be monitored until predetermined intervals and the measurement method is capable of providing relevant information for analysis. Many of the modern theorists do not know whether or not there exists a causal interrelation between customer, internal business processes, and learning and growth in

The makeup of a good research question Essay Example | Topics and Well Written Essays - 250 words

The makeup of a good research question - Essay Example 3). Examples of these questions would involve the why’s and how’s of the object being studied. The data format of the answers derived from these questions is textual in nature. Quantitative research questions, on the other hand, aim to â€Å"quantify variation, predict causal relationships, or describe the characteristics of a population† (Mack et al., 2011). Questions that explore the differences, relationships, and characteristics of the object being studied, therefore, are quantitative in nature. The answers generated from these questions are usually numerical in nature. These questions sometimes aim to quantify otherwise unquantifiable objects by transforming them into measurable variables and relationships. Another defining characteristic of a quantitative question is its reliance on experiments and surveys as research methods. While quantitative and qualitative research questions differ in the way they attack a research problem, combining them can lead to a more insightful and comprehensive research study. Some studies, for instance, begin with a quantitative question to uncover manifest characteristics of an object being studied and then proceed to a qualitative one to delve deeper into the meanings and relationships within that object. References Brikci, M., & Green, J. (2007). A guide to using qualitative research methodology.

Business Environment Demand and Supply Assignment

Business Environment Demand and Supply - Assignment Example 2. If the price of Snickers increases, then the substitute for the Mars bar has become more expensive. As a result at each price, people will buy more Mars bars. Therefore, at each price there will be a higher quantity demanded of Mars bars. So the demand for Mars bars will increase. In figure 2 suppose the initial demand curve at the old price of Snicker bars is D0. This curve shows at price ?0.6 per unit of Mars bars, Q1 units are demanded. Now if the price of Snickers bars goes up, at the same price of Mars bars, more units are demanded. So, the demand curve shifts up to D1. In this new situation, at the old price of Mars bars Q2 units are demanded. Figure 2: Effect of increase in the price of substitutes 3. In figure 3, D0 is the initial demand line for Strawberries. If the price of cream fell, then a unit of Strawberries and cream together is less expensive. Since Strawberries and cream is consumed together, the quantity demanded of strawberries and cream together rises. As a re sult, at each price, the quantity demanded of Strawberries is now higher. So, the demand curve for Strawberries shifts out to the right to D1. Figure 3: Effect of fall in price in cream on demand for Strawberries 4. If the interest rate increases, then people have to pay more to repay the same amounts of loans. As a result, the income falls. If income falls, given the same price of cars, people can afford to buy fewer cars. Therefore, at every price, the quantity demanded of cars falls. As a result, there is a decline in the demand of cars. This is shown in figure 4. The demand for cars drops from D0 to D1. Figure 4: Effect of rise in interest rates on demand for cars 5. If the cost of production of Mars bars falls, then every unit of Mars bars can be supplied at lower price. Therefore, at each price the quantity supplied increases. This leads to an outward shift in the supply on the Mars bars. The effect is shown in figure 5 below. The initial demand and supply curves are D0 and S0 respectively. The equilibrium occurs at point A where these two curves intersect one another. Note from the vertical axis that at the initial equilibrium the price is 0.6p. Now, suppose the production cost falls. As a result, the supply curve shifts out to the right to S1. The new equilibrium is point B. Note from the vertical axis, the new equilibrium price of Mars bars is lower than the initial equilibrium price. Figure 5: Effect of reduction in producing costs 6. In figure 6, the effect of a reduction in a tax on the sales of the product is shown. Suppose initially, the tax is ‘t’. The relevant supply curve is S0+t. If the tax is taken off, the cost of the firm goes down, as a consequence the firm can supply more at each price. The supply curve without the tax is S0. Observe, if a tax is charged, then to supply an output of Q1 the firm has to charge a price of P0+t. But if there is no tax, the firm can supply the same output at a lower price of P0. Therefore, the ef fect of a reduction in tax is to shift the supply curve out to the right. Figure 6: Effect of a reduction in tax on the supply 7. If there is an increase in technology, the inputs become more productive. As a result, at the same per unit cost, the firm can now produce more. Therefore, at each price, the firm now is able to offer a higher quantity supplied. Therefore, due to the improvement in technology, the

Operant Conditioning Paper Essay Example | Topics and Well Written Essays - 750 words

Operant Conditioning Paper - Essay Example Operant Conditioning is widely used not only in psychology but also in other different settings. A person behaves in a particular way due to the response (stimuli) he experiences in his environment. When these responses are reinforced, then the person or animal is conditioned to respond. Operant Conditioning does not use the trial and error method in determining a person’s reaction to a certain response. It is directly experienced by the individual through a certain experience in his environment. Reinforcements mean â€Å"to strengthen or make strong† but they can be both positive as well as negative. A reinforcer is called positive when the reinforcement is presented or takes place. On the other hand, a negative reinforcement is when the reinforcement is withdrawn. In order to suppress a person’s behavior, negative reinforcement is utilized, but that doesn’t mean that negative reinforcement is punishment. Negative reinforcers are often used to correct a person’s behavior by removing the positive reinforcer and replacing it with the negative one. This helps the individual to condition or respond in a different way by reducing the consequence or threat of punishment, thereby changing his behavior for the better. Operant Behavior is moulded according to the consequences an individual receives in the environment. The freedom of a person is affected in the process. (Skinner, 1971) If the individual has experienced positive reinforcing consequences usually feel a sense of freedom, but this is not the case in negative consequences. According to B.F Skinner, â€Å"The experimental analysis of operant behavior has led to a technology often called behavior modification†.  (B.F Skinner, 1971) Between the positive reinforcement and Negative reinforcement, the one that is most used in the correction of behavior is the Negative reinforcement. In such an environment, the trouble causing consequences are removed and replaced with other consequences,

Fair is Fair case Study Example | Topics and Well Written Essays - 250 words

Fair is Fair - Case Study Example This is the only way through which contentment can be established (Simmons, 20). The principle of fairness applies where both parties in a dispute perceive the verdict as having not favored any side of the argument. While justice could rest on side of the case, fairness must be established with the interest of both parties in mind. Thus, although justice could stand on certain premises, which could be seen to be favoring either side of the argument, fairness stands as the middle ground between the disputing parties, ensuring that none will perceive the other party as having benefited more from the case (Simmons, 24). Therefore, fairness goes beyond just doing justice, by ensuring that both parties to an argument are contented, no matter where the justice stands. Fairness can go against justice, for the sake of establishing a middle ground and creating contentment to the parties involved in a case. Therefore, fair is fair

Letter to school Essay Example | Topics and Well Written Essays - 500 words

Letter to school - Essay Example A calm and serene environment promotes and stimulates the inquisitive mind of a student. The company of knowledgeable and learned colleagues is an invigorating factor which encourages a student to learn by discussion and sharing. Staying in the main campus also saves a lot of time spent in commuting to and fro, which can be devoted to studious pursuits. Access to the campus library is another factor, where one can find all the pertinent books, journals, newspapers and articles for quick reference. All relevant departments are also within a stone’s throw and one can seek help of the faculty as and when required. I have adequate experience as a student as I come from a family with educational background. My father obtained his Ph.D. from the United States. Although I am of Korean descent, I was born in America and am well versed with the American way of life. My experience after serving in the army has matured me beyond my years and I understand the sanctity of a healthy educational pursuit. Although I don’t have the necessary credit, I am sure I will fulfill any deficiencies within a short period if I am given the opportunity to shift to the main campus. I have already established my residence nearby and there is no problem in sustaining myself in a congenial manner at the