Business Planning And Decision Making - 879 Words

People are constantly making plans or making decisions. In morden business world, a plan has to be made if a new project been assigned, or there is going to have a major change in the direction of where the business will be reroute. A good plan will parepare us better for uncertainty, which can help to ensure the success in the future. Meanwhile, business decisions are constantly being made by managers at each management level. A good decision determines the fail or success of a business operation. No doubt that business planning and decision making are mututal important in a business operation, many factors can contrubute to quality planning and decision making. Among all the factors, personal factors and environment factors are the two major topic in today’s business world. The purpose of this article is to take a deep look at what are the major personal and environmental facors in today’s business world that will positively influence the business planning and decisio n making. To answer above questions, we should first take a deep look at what are the steps involved in basic business planning process. Business planning are understand widely as the the quantative works that the founders of a entrepreneur carried out to collect business information and research for new opportunities. The basic activities are gathering and analyzing information, evaluating objetives, identifying risks and strategy, preparing or enlarging funding, and compiling paper plan (Cox, 2014).Show MoreRelatedManagerial Accounting1152 Words   |  5 PagesAccounting Accounting is a crucial part in running a business. There are various forms of accounting that can be used, it is very important to know which technique is best to use for what companies. Once you figure out a particular technique to use, it is important to keep an open mind if there are any changes that need to take place in the business. By keeping an open mind helps the business adjust and be able to make the right decisions. Every business wants to make a profit; accounting is an importantRead MoreEssay on The Strategic Planning Process1078 Words   |  5 Pagesplan altered steps involved in the planning process, but in this case I will discuss on seven steps that are involved in the entire process. The first step is goal setting. This basically involves coming up with the main objectives and goals that the company wishes to establish within a particular period of time. It is a very important section because the company will operate with a view of the goal in mind, if it is not clearly established, and then the business could lose direction along the wayRead MoreManagement And Future Direction Of A Business1072 Words   |  5 PagesChapter Overview Chapter 3 talks about how decision-making skills are put to work in making strategic choices for the management and future direction of a business. Goals that companies make are targets or results that managers hope to achieve. Managers must plan out what needs to get done, when it will get done, who will do it and how it will be done. When it comes to plans, there are two basic components: goals and action. â€Å"Formal plans are written documents that capture key strategic objectivesRead MoreQuestionnaire And Questionnaire On Customer Requirements Essay1527 Words   |  7 Pagesenvironment (e.g., well-lit environment both inside and outside the store including the parking lot) (CR4). †¢ Offer promotion/discount (CR5). †¢ Multiple payment options (e.g., cash, check, credit card) (CR6). †¢ E-commerce and online presence (e.g., publish business information and offer product/service through a website or social media site) (CR7). †¢ Pricing (e.g., reasonable price for product/ service) (CR8). 4.2. Comparing the importance and satisfaction levels of attributes All CRs are rated differentlyRead MoreFinancing And The Development And Implementation Of Strategies1190 Words   |  5 PagesStrategies SUMMARY The role of finance within the strategic planning process has become more relevant than ever. With the introduction of the balanced scorecard the financial performance of a firm has been emphasized has a key indicator of success and links strategic goals to performance and provide timely, useful information in order to facilitate strategic decisions. The article, The Role of Finance in the Strategic-Planning and Decision-Making Process, by Pedro M. Kono and Barry Barnes discusses howRead MoreStrategic Planning And It Management1424 Words   |  6 PagesStrategic planning is the process of determining a companys long-term goals and then identifying the best approach for achieving those goals (Wikipedia). This process aligns strategic planning with overall organization planning by assessing organizational objectives and strategies, setting the organizational mission and mandate, assessing the external environment and setting policies, objectives and strategies (Wikipedia). A study co mpleted in 1999 revealed that less than 40% of US businesses includedRead MoreFinance Theory and Financial Strategy1195 Words   |  5 Pagesstrategy Strategic Planning means several things. But it certainly is a part of the decision-making in resource management of the business benefits. Finance theory has significant advantages in understanding the function of capital markets, the valuation of real assets and financial assets. Discounted cash flow analysis(DCF) is a tool that derived from finance theory which has been widely used. However finance theory also has little effect on strategic planning and there are three differencesRead MoreStrategic Issues in Entreprenuerial Ventures1565 Words   |  7 PagesISSUES IN ENTREPRENEURIAL VENTURES AND SMALL BUSINESSES The Importance of Small-Business and Entrepreneurial Ventures A. Definition of Small-Business Firms and Entrepreneurial Ventures The most commonly accepted definition of a small business firm is one that employs fewer than 500 people and that generates sales of less than $20 million annually. According to the U.S. Small Business Administration, â€Å"A small business is one which is independently owned and operated, and which is not dominant inRead MoreStrategic Planning at BP1198 Words   |  5 Pagesï » ¿The planning function is where management seeks to design corporate actions that will help the organization meet its strategic objectives. The strategic planning process is usually step-based, in order to ensure that the organization takes a proactive approach to planning, rather than a reactive approach. The strategic planning process begins with setting the corporate mission and objectives as the first step. Most corporations will have a broad vision for the company and a mission that are expressedRead MoreAn Explanation Of The Strategic Management Process1655 Words   |  7 Pages 1. An explanation of the strategic management process Defining the current business, establishing strategic objectives, formulating strategy, strategy implementation and execution. Definition of Strategic Management Strategic management is the process where leaders establish an organization’s long-term direction, set the speciï ¬ c performance objectives, develop strategies to achieve these objectives in the light of all external and internal changes, and undertake effective strategies

An Analytical Summary Free Essays

Se Habla Espanol By Tanya Barrientos An Analytical Summary Tre A. Williams Kimberly Muirhead English 115 11/14/2012 Tanya Maria Barrientos, a journalist by profession and an upcoming author is Guatemalan by birth. However she has been living in America for almost fifty years after coming from her native country at the age of three. We will write a custom essay sample on An Analytical Summary or any similar topic only for you Order Now The essay ‘Se Habla Espanol’ is a poignant depiction of the search for her misplaced identity that she desperately tried to forget in her formative years. Her aversion towards her own ethnicity can be summarized by this quote of hers, â€Å"when I was sixteen, I told my father how much I hated being called Mexican-not only because I wasn’t, but also because the word was hurled as an insult† (Page 59). The most important point of the essay is the difficulty the immigrants face while growing up in a land, which is not their by birth as how they are inherently misfit in the society, yet they desperately want to merge into it by forgetting their language and ignoring their last names. Barrientos starts the essay the quite aptly by depicting her child hood days as how her parents consciously forgot their own culture to assimilate their kids in the alien ‘gringo’ culture. Although they themselves talked to each other in Spanish, yet they talked to their kids in English, maintain the American culture within the house and kept their kids as far away as possible from other Latin Americans and Latin American Culture. The result was dark skinned kids who consider themselves white and hate to be called Latin American or Mexican. Barrientos’ mental state in her growing years can be ascertained by these words, â€Å"I enjoyed looking into the faces of Latino store clerks and waitresses and, yes, even our maid, and saying ‘yo no hablo espanol’. It made me feel superior. It made me feel American. It made me feel white† (Page 58). The situation completely changed when Barrientos reached her 20’s. Suddenly the societal conditions changed and the country woke up to recognize various cultures and ethnicities that made the United States of America that we know today. The culture baggage was no longer considered a baggage now and in fact it gave uniqueness to the immigrants. Now, Barrientos tries to learn Spanish and also desperately tries to search her lost identity while learning Spanish. However, now the unfortunate thing is that in spite of trying hard in learning Spanish, she is still managed to understand and haltingly speak Spanish that makes her stick out in her own community and she can never gel completely within her own community. The purpose of Barrientos’ writing clearly indicates the experience, the second generation immigrants feel, behave and communicate in the modern American society. She explains the experience of her life and analyzes the difficulties she had to endure throughout her life. Her audience primarily is young and most of them are not white Americans like her. The exceptional thing about Barrientos’ essay is that she has written it in a very exceptional, lucid and easy to understand English. Thus, Se Habla Espanol is an excellent essay, which depicts and analyzes a modern day issue, which has established as a major phenomenon in today’s world. Moreover, it is very much evident in America because it has always been a melting pot of varied cultures belonging to all over the world. References Create. (2001). ENC 1101. Corinthian. Columbus, OH: McGraw-Hill. Border-Line Personalities: A New Generation of Latinas Dish on Sex, Sass, and Cultural Shifting [Paperback] Michelle Herrera Mulligan (Author), Robyn Moreno (Author) Se Habla Espanol ByTanya Barrientos page 167. How to cite An Analytical Summary, Essay examples

Business Workplace Policies Benefits

Question: Describe about the Business Workplace Policies Benefits. Answer: Why are workplace policies and procedures important? List five key benefits. Workplace policies and procedures are important for any organization as it deals with day to day problems. The five key benefits of workplace are as follows: Workplace policies and procedures are quite significant to the organization since they convey standards of personal and professional behavior expected from employees. Instead of wasting time in asking minute details again and again, workplace policies help in defining roles and responsibilities along with rules of the organization to enhance efficiency of workplace. They make decision-making process easier and undisputable while dealing with organizational conflicts. The communication channels are clearly visible if an organization has precise workplace policies. It ascertains employees that they will be treated fairly and equally. (NSW Government, 2013) Briefly explain why it is important that workplace policies and procedures are provided and explained to staff? It is very important that workplace policies and procedures should be clearly communicated to the employees because it will help them in knowing that what is expected from them. Besides that, it will be a great help to managers or employers to manage staff issues and grievances. A concise and clear communication of these policies is required to avoid any ambiguity in tasks and further misunderstandings among employees. When should staff be provided with policies and procedures? When an employee joins an organization, he is given an induction training in which his/ her reporting head should convey the policies and procedures of the workplace. If this is not feasible, employees should be given manuals containing organizational policies. The best time to do so is the time when an employee first enters the companys premises so that he/ she may be able to adjust to the workplace environment from the very beginning. List three methods of informing staff about changes to policies and procedures. Three methods of notifying employees about the change policies and procedures are: The manager may conduct a face to face communication with large group of employees at a time during staff meeting to inform about the altered policies. Publish the changed policies in the written format in staff manuals Transmit the information through intranet system of an organization What is the purpose of a workplace Code of Conduct? Workplace code of conduct is required to give clear path to resolve disputes among colleagues. It also provides clear guidelines as to acceptable behavior of employees, their dress code, their roles and responsibilities, companys values, ethical guidelines, etc. to avoid any ambiguity or confusion in such cases, workplace code of conduct is designed in organizations (Lupin, 2016). List three behaviors that a workplace Code of Conduct can cover. Three behaviors that can be covered under the organization's code of conduct are: Accountability Values that are expected from all members Standard of practice (Amico, 2016) List three benefits of networking. Strengthen the working relationships Creates new ideas and opportunity to enhance knowledge Access to wide information and thereby gains advice of experienced staff List two benefits to employers of a diverse workplace? Diverse workplace enhances productivity and thus, creates a competitive edge It adds to the value of an organization through increasing creativity and building an opportunity for operating in the international market (Johnson, 2016) Describe the main function of the Fair Work Act 2009? It is an Australian Act which provides a guideline to rules and regulations for employers and employees that must be adhere to in a workplace as per the national laws. Its main purpose is to check the behavior of both the parties and avoid illegitimate or unfair practices by them so as to enhance national prosperity and social interactions in the country (Australian Government, 2009). What is Equal Employment Opportunity? It is the most significant concept for both employers and employees. It indicates that everyone should be given an equal chance of employment in an organization. In other words, there should be no discrimination based on age, sex, religion or other aspects in the process of hiring, firing, wage settlement, promotions and transfers of employees. Describe the main function of the Disability Discrimination Act 1992. This law was presented and passed by Australian Parliament to avoid any discrimination against disabled people. Its main function is to protect the rights and interests of the disabled population of the country. The law applies to certain areas like land and property, provision of goods, education and health amenities. (Australian Government, 1992). List the objectives of the Racial Discrimination Act 1975. The objective of the Racial Discrimination Act 1975 is to prohibit the act of racial discrimination and offensive behavior which is supported by racial hatred (Australian Govenrment, 2014). List the objectives of the Sex Discrimination Act 1984. The main purpose of the Sex Discrimination Act 1984 is to forbid the discrimination from the public life on the basis of several grounds including sex, relationship status, gender identity, sexual orientation and pregnancy status (Australian Govenrment, 2014). 2. Dear All, This is to inform you about the launch of new formal systems and processes within a company for several operating areas. The formal system includes workplace communication and consultation policy, code of conduct and dispute resolution policy. The company has adopted a code of conduct that outlines its commitment towards achieving goals with integrity and honesty. It includes the ethical behavior of the workplace and thus benefits to the company. The communication strategies avoid conflict and provide effective mechanism for feedback and hence, include such policies which help in resolving disputes among workforce within a company. Please find the attached documents. Looking forward to your feedback. Thanks and Regards ABC Attachment: Code of Conduct Comply with all the legal guidelines, company policies and procedures Respect everyone in the workplace Display professionalism in all their conduct at workplace Create the workplace culture embedded with integrity and honesty Maintain privacy and confidentiality of clients One should not accept any favors clients (Amico, 2016) Workplace Communication and Consultation Policy and Procedure Step1: The employees should report the problems and issues to a concerned manager or a supervisor Step2: If the issue is not resolved by a manager, an employee must report it to High Stage Regulator of a company or a team, who can discuss the issue with a line manager or senior supervisor, if required Step 3: Even if the problem is not solved yet, then, an employee can directly contact with the director of a company and thus get feedback Dispute Resolution Policy and Procedure Step 1. The initial application should be provided by a client or an employee/ employer to the concerned person Step 2. A formal letter should be sent to the affected party for a discussion through meeting Step 3. Based on the company's policies and minutes of the meeting, the disputes should be resolved by negotiation, mediation and arbitration depending upon the concerned issue Step 4. With the discussion, related parties involved in the dispute will reach to a solution Step 5. If the issue is complex and highly technical and thereby, a concerned authority is unable to solve the dispute among parties, then, it may further approach the court for finding a solution. 3. Establishment of professional development plan is essential for the expansion of the company. In order to develop a professional networking plan, there are three networks that can associate employer and employee to accomplish a particular task. A General Manager can develop a local business network, employees group and staff association to create specific ideas. These association of network helps in establishing a professional event within a firm. Four events for the next twelve months can be conferences and seminars, team building events, press conference and board meetings. The success of these events helps the firm to contribute towards generating profit for the company by formulating and defining the company's rules and regulations. Name of the event Venue Date and Time Cost of the event Benefit to General Manager Benefit to the team Conferences and seminars Crown Events and Conferences 16th October, 2016 AUD $ 10000 The general manager can influence people at a large and thereby increases productivity of the company. It enables the employees to enhance their network and share their existing knowledge among other employees in the Accountancy Victoria. Team building events Citadines on Bourke 5th January, 2017 AUD $ 9500 The manager can achieve its goals efficiently through clarity of objectives specified to the employees at the event. Manager can address to the concerned issues by providing effective working procedure. Employees can motivate and develop themselves by enhancing their skills. Better communication among employees can also be done through breaking barriers among them. Press conference Hilton Sydney 18th May, 2017 AUD $ 15000 Manager can announce its vision, mission and achievements which in turn builds company's reputation and manager as well in the operating market. Achievement of employees performance can be recognized in the press conference which motivates them towards their work. Board meetings Centre Ivanhoe 4th August, 2017 AUD $ 7000 General Manager can establish a strategic direction with mutual understanding of other board members which increases his credibility and legitimacy. Employees can address their issues to the top management, which helps them to solve related concerns and thereby increases their productivity. 4. Email inviting Beth to a meeting Dear Beth, Hope you are doing well! I would like to formally invite you for the meeting that is going to be held on 28th September, 2016 at 11:00 a.m. at Accountancy Victoria. We will be discussing about your weak performance during the last two months. During this time period it has been observed that you were not able to complete the assigned task on time and even you not have provided the correct information to the clients. This discussion will help us to avoid any confusion and thereafter will result into improvement in your performance at the workplace. I look forward to meeting with you discussing about the same matter. Regards, XYZ Follow up email: Dear Berth, It was pleasure meeting you today. We have discussed a reason behind your under- performance. After observing the situation and listening to your concerned issues, I have decided to provide you with the company's policies and procedure of performing a task. I appreciate that you have accepted your mistake and apologized for the same. I remember you have mentioned that you will make changes in your working process and improve your communication with clients. This will add value to our company. I am happy to meet you again. Regards, XYZ References Amico, S., 2016. Workplace Ethics Behavior. [Online] Available at: https://smallbusiness.chron.com/workplace-ethics-behavior-5239.html [Accessed 9 September 2016]. Australian Govenrment, 2014. Racial Discrimination Act 1975. Australian Government. Australian Govenrment, 2014. Sex Discrimination Act 1984. Australian Govenrment. Australian Government, 1992. Disability Discrimination Act 1992. Australian Government. Australian Government, 2009. Fair Work Legislation. Australian Government. Johnson, R., 2016. What Are the Advantages of a Diverse Workforce? [Online] Available at: https://smallbusiness.chron.com/advantages-diverse-workforce-18780.html [Accessed 2016]. Lupin, 2016. Code of Conduct Workplace Ethics. [Online] Available at: www.lupin.com/pdf/COC.pd [Accessed 9 September 2016]. NSW Government, 2013. Industrial RElations: Workplace Policies and Procedures. NSW Government.