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Hospice Nurse Transition- Business Plan

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Hospice Nurse Transition

Business Plan

Executive Summary

Transitioning from a student into a professional practitioner is a difficult experience for most people. However, the transition experience is especially difficult for graduate nurses who are ushered into a demanding work environment. Most new nurses are shocked at the sheer contrast between student life and work. Just a few weeks after employment, Graduate nurses are expected to take up serious responsibilities including patient care and supervisory duties. This business plan sets out to bridge the gap in knowledge about self-care strategies that NGNs can use as they transition to hospice.

Business Plan-Transitioning Nurses into Hospice

1.0 Preliminary

1.1 Objectives

The business plan aims to educate the nurses that are transitioning into hospice on how to identify, explore, and improve our health and self-care practices. The plan will also help teams to evaluate risks for burnout and compassion fatigue, and learn more effective strategies for work and home-life balance. The self-management transition plan hopes to decrease attrition rates to zero in the next six months.

1.2 Philosophy Background

Hospice can be defined as a model of care formulated to afford comfy, and support to the patient as well as families especially when a life-limiting malady does not react to remedial prescriptions. The philosophywas startedin 1960 by Dr. Cicely Saunders, a British physician. The phrase “hospice” comes from the Latin word “hospital” that implies guesthouse. Today there are more than 4,100 hospice programs that offer this specialized care to patients.

1.3 Problem Statement

While the demands for hospice service are greater than the resources, it leads to nurses being put into the field to care for these patients too soon. However, experience demonstrates that nurses who transition into hospice are thoroughly orientated and trained on how to care for dying patients. In short, nurses tend to care deeply for others, at their peril. The underlying cause is that the nursing orientation and training lacks on self-care and time management, which ultimately results in compassion fatigue and high attrition for nurses in hospice. There is, however, there is a need to equip hospice transitioning NGNs’ with “Self-Management skills to decrease compassion fatigue and attrition rates.

2.0 Situation on the Ground

The Georgetown Hospice office is growing at a rapid rate in their patient census and so is the attrition rate with the nurses. This situation forces the current nurses to take on larger caseloads and more on call. Nurses are being hired, but most are new to the field of hospice, which requires some extra training. Often this training and orientation are not completed, due to the need of the new nurse in the field to help with patient coverage (Casey et al.2004).

The incomplete orientation can cause nurses to feel unsupported, inadequate and insecure. These feelings and emotions without the necessary skills or training on self-management lead to burnout, compassion fatigue and high attrition. Developing this self-management project will, in turn, help this office and company as a whole by saving the cost of new hires.

3.0 Critical Assumptions and Constraints

The Georgetown Hospice Leadership Team has all agreed that this self-management project will be essential to manage the growth of the office (Dyess & Sherman, 2009). The Leadership Team believes this project will build up the moral and confidence in the nurses. Decrease the amount of physical, psychological and emotional exhaustion felt by the nurses (Scott, Engelke & Swanson, 2008).

Predict the risk of compassion fatigue and give the tools to be successful in the field. This project will require collaboration and feedback between the Executive Director, Quality Manager, Manager of Clinical Practice and the RN Case managers. Some constraints are:

Conflicts in the nurses schedules- not all be able to meet at the same time
Inadequate nursing coverage- high patient to nurse ratio
Poor communication- limited feedback

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4.0 Key Success Factors

Educate the staff on coping strategies for facing death with assigned patients.
Encourage effective communication between managers and staff.
Schedule RN Case-mangers with sensible ratios that will allow the nurse to spend adequate time with patients to build rapport.
Incorporate burn-out prevention strategies in every monthly nursing meeting.
Team building to show the nurses a sense of belonging.
Teach Nurses to safeguard their boundaries.

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5.0 NGNs’ Experiences

Nurses experience difficulties when transitioning from student to practicing Registered Nurses. NGNs initially find the role of practicing nurse extremely stressing and challenging. However, role stress decrease as NGNs gain confidence, obtain clinical support and develop competence (Duchscher & Cowin, 2004).NGNs describe the transition as a difficult time filled with feeling or incompetence, fear of physicians, an overwhelming sense of responsibility, and difficulties in prioritizing, organizing or delegating tasks.

Approximately 30% of NGNs quit their first nursing jobs within the first year of employment. In just two years, 57% had moved from their first jobs (Duchscher & Cowin, 2004). The high nurse turnover hinders work productivity, quality patient outcomes and the morale of the staff. Moreover, high turnover means healthcare organization have to incur the cost of rehiring and retraining new nurses to take the roles of those who leave.

While training more nurses may solve the nurse shortage problem, the problem of deficient patient care and supportive work environment needs to be handled to smooth the nurse transition. However, NGNs are not satisfied with their working environment as they complain about the lack of a consistent preceptor, struggles with authority, a feeling of being undervalued, and workload issues (Delaney, 2003). There are high burnout rates among new nurses.

The nurse also complains about the lack of support, limited access to resources and opportunities as their main barrier to productivity at the transition phase. However, the job satisfaction outcomes of NGNs improve significantly after the first 18 months of practice. Nurses start to enjoy their work once they can organize their time, prioritize tasks, access resource, understand job expectation, and were made aware of the availability of professional development opportunities.

The transition is a stressing time for graduate nurses. NGNs’ confidence is initially low as they are unsure about the experience and knowledge; they also fear the interaction with patients as they feel they will not be able to understand their issues. NGNs are also worried about acting autonomously and deciding when it is necessary to call physicians (Twibell et al. 2012). Therefore, this business plan will demonstrate how to boost NGNs confidence and ability to make informed decisions about service delivery.

6.0 Management Summary

Key stakeholders for the project has been identified and interviewed to obtained and assess their requirements/needs, as well as input for successful implementation. Key stakeholders include Executive Director; Jackie Williams, Quality Manager; Anna Hamilton, Manager of Clinical Practice; Aneko Jackson and Manager of Clinical Practice Tracy Sudduth. All requirements were obtained, reviewed, prioritized, and approved by the project sponsor and team members(Bowles & Candela, 2005). Key Stakeholders, Executive Director; Jackie Williams, Quality Manager; Anna Hamilton, and Manager of Clinical Practice Tracy Sudduth, will be updated on a weekly basis in person or via telephone regarding the progress of the business plan.

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7.0 Strategy and Implementation

7.1 Strategies

7.1.2 Control

Many NGNs are concerned about the control or autonomy of their new roles as practicing nurses. In addition, they complain that being responsible and accountable to patients was stressing. Student nurse roles are inadequate in equipping NGNs for the responsibilities awaiting them in practice. Patient care decision and outcome responsibilities often overwhelm new nurses (Romyn et al.2009).

However, the reactions of the NGNs vary as some embrace the new responsibilities, but most report a feeling of being overwhelmed. Control is a double-edged sword in the transition period. For nurses who embrace responsibility and accountability easily, it is exhilarating and exciting. In contrast, control brings about a feeling of anxiety for nurses who are unprepared for the new responsibilities.

NGNs may also suffer disorientation and poor sense of control as a result of unfamiliarity with the practice environment. NGNs are surprised when they realize that the practice environment is significantly different from the school context (Chang & Hancock, 2003). NGNs can experience as a result of the uncertain expectation of the new role which gives rise to role ambiguity.

7.1.3 Support

Support by supervisors or coworkers plays a significant role in easing the NGN transition process. Often NGNs expend much effort in trying to familiarize themselves with existing workers in their healthcare setting. Moreover, NGNs are in need the support of other members of the multidisciplinary team. The majority of NGNs report that there are adequately supported by preceptors and colleagues, which makes them part of the team (Cho, Laschinger & Wong, 2006).

However, the new nurse cannot challenge established ways of doing things as they lack the necessary support. Nurses also need support from family and friends outside the workplace. In fact, nurse reports that they perform better when they receive external support.

Some of the interventions to support NGNs include teaching nurses to self-manage the transition by performing recommended self-care practices. The use of internship programs and preceptor pairing to expose the nurse to the “real world” before commencing practice is also effective (Halfer & Graf, 2006). Nonetheless, NGN transition research lacks anadequate measure of interventions to support the process.

7.1.4 Self-efficacy

NGNs feel incompetent and inadequate as they begin practicing as nurses. Many new nurses report feeling as if they do not possess the necessary skills or knowledge to work as RNs. NGNs also greatly double their clinical competence as they lack the basis, unlike experienced healthcare workers. Furthermore, NGNs feel that their inadequate knowledge was a severe limitation (Edwards et al, 2015). However, NGNs have a higher self-efficacy and confidence scores as they continue to gain clinical experience.

7.2 Implementation

There are three options considered in the development of this Self- Management Project.

1. Weekend training carried out once a month that would only focus on the well-being of the RN Case Managers (other disciplinary team members would also be welcomed). This time, would allow the nurses to reflect on challenges and solutions as a team (Pellico, Brewer & Kovner, 2009).

2. Develop a month long structured orientation that includes a week of orientation that is dedicated to healthy coping mechanisms in the field of hospice.

3. Incorporate the self- management education in the monthly nursing meetings and encourage a brief self-evaluation on current feelings and emotions weekly during IDG meetings.

After discussing all three options with the sponsors, option 3 was the most feasible and would not change the budget since these meetings are already included in the budget during the nurses normal work hours. Option one sounds good, but it defeats the purpose which is self-management; we want our nurses happy, we want them to relax when they are off and enjoy with their families.

This also increases the budget for extra overtime (Waite, 2004). A month-longorientation forces our veteran nurses to work that much longer with the high patient to nurse ratios. High ratios are very stressful to these nurses. We want our nurses to enjoy their employment with the company and allow them the opportunity to give quality care to patients.

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8.0 Financial Plan

8.1 Budget Estimate and Financial Analysis

The cost of this project is no added cost to the budget since the sponsors have requested that execution of this project is incorporatedinto the standard meetings.

8.2 Schedule Estimate

The Georgetown office has determined this is a critical need, due to the rapid growth in the census; therefore, the projection is to be completed by May 1, 2016. A time estimate has been provided to the project sponsors, and will be the responsibility of the Project Champion, to ensure the expected completion date is obtained.

9.0 Conclusion

The nursing career has a plethora of challenges especially for NGNs, who complain of limited orientation, disorientation, feelings of confusion and loss, overwhelming responsibility as the primary barriers to successful transitions. The difficulties of the NGNs transition to practice are further complicated by other changes in their life. The truth is that the new nurse transition face is fraught with difficult, and there is a need for support and self-management strategies to handle the stresses of this phase of a nurse’s career.

This care plan hinted about training to help fix anomaly. Formal classes; evidence-based practice, and guidance and mentoring as crucial precepts of nursing practice. As such, all medical care should be involved in presenting, the presence of a designated preceptor and rewards for those who successfully carry out the preceptor’s role. Again, extended residencies and structured orientation to support the NGN transition may improve job satisfaction and reduce the high nurse turnover.

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10.0 References

Bowles, C., & Candela, L. (2005). The first job experiences of recent RN graduates. Journal of Nursing Administration, 32(3), 130Y136.

Casey, K., Fink, R. R., Krugman, A. M., & Propst, F. J. (2004). The graduate nurse experience. Journal of Nursing Administration, 34(6), 303-311.

Chang, E., & Hancock, K. (2003). Role stress and role ambiguity in new nursing graduates in Australia. Nursing & health sciences, 5(2), 155-163.

Cho, J., Laschinger, H., & Wong, C. (2006). Workplace empowerment, work engagement and organizational commitment of the new graduate nurses. Nursing Leadership, 19(3), 43Y60.

Delaney, C. (2003). Walking a fine line: Graduate nurses’ transition experiences during orientation. Journal of Nursing Education, 42(10), 437-443.

Duchscher, J. E. B., & Cowin, L. S. (2004). The experience of marginalization in new nursing graduates. Nursing Outlook, 52(6), 289-296.

Dyess, S. M., & Sherman, R. O. (2009). The first year of practice: New graduate nurses’ transition and learning needs. The Journal of Continuing Education in Nursing, 40(9), 403-410.

Edwards, D., Hawker, C., Carrier, J., & Rees, C. (2015). A systematic review of the effectiveness of strategies and interventions to improve the transition from student to newly qualified nurse.International journal of nursing studies, 52(7), 1254-1268.

Halfer, D., & Graf, E. (2006). Graduate nurse perceptions of the work experience. Nursing Economics, 24(3), 150.

Pellico, L. H., Brewer, C. S., & Kovner, C. T. (2009). What newly licensed registered nurses have to say about their first experiences.Nursing outlook, 57(4), 194-203.

Romyn, D. M., Linton, N., Giblin, C., Hendrickson, B., Houger Limacher, L., Murray, C. & Weidner, A. (2009). Successful transition of the new graduate nurse. International Journal of Nursing Education Scholarship, 6(1).

Scott, E. S., Engelke, M. K., & Swanson, M. (2008). New graduate nurse transitioning: necessary or nice? Applied Nursing Research, 21(2), 75-83.

Twibell, R., St Pierre, J., Johnson, D., Barton, D., Davis, C., Kidd, M., & Rook, G. (2012). Tripping over the welcome mat: Why new nurses don’t stay and what the evidence says we can do about it. American Nurse Today, 7(6), 357-365.

Waite, R. (2004). Psychiatric nurses: Transitioning from student to advance beginner RN. Journal of the American Psychiatric Nurses Association, 10(4), 173-180.

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How is Globalization Affecting the Key Actors in the International System?

How Is Globalization Affecting the Key Actors in the International System?

Introduction

At the core of globalization is a global shift; meaning, the globe being shaped by technological and economic forces, into a collective political and economic arena. The three main perspectives with regard to globalization include transformationalist, the sceptical, and the hyperglobalist viewpoints (Verma & Singh, 2010).

Hyperglobalists: those who hold this viewpoint maintain the world today is a more and more global world wherein countries are being subject to immense political as well as economic processes of transformation. These processes serve to erode and fragment countries and reduce the power of political leaders. In circumstances such as these ones, countries are becoming gradually more the ‘decision- takers’ rather than the ‘decision-makers’ (D’Anieri, 2011). The sceptical: those with this viewpoint strongly oppose the perspective of hyperglobalists and maintain that present-day global circumstances are not unprecedented.

According to them, although there has been an increase in social and international activity in the past few years, this has served to reinforce and enhance the powers of state in a number of domains (D’Anieri, 2011). Transformationalists: those who have this view maintain that globalization is producing novel economic, political as well as social situations that are actually altering powers of the state and the context wherein countries operate. Transformationalists do not try to envisage the outcome (Popa, 2014). They maintain that it is uncertain – but assert that politics is not just rooted in nation-states.

Globalization

Globalization can suitably be seen as a process which exemplifies a change in the spatial organization of social transactions as well as relations, resulting in interregional or transcontinental flows and networks of activities, interaction as well as power (Kilic, 2015). Globalization is typified by the following: integration of international/global economic decision-making, integration of international economic decision-making, exponential growth in global fiscal transactions, increases in global Non-Governmental Organizations and Activities (NGOs), and strengthened political International Governmental Organizations (IGOs) (Goldstein & Pevehouse, 2006).

Furthermore, globalization is typified by 4 kinds of change:

(i) globalization entails a stretching of economic, political and social activities across political regions, frontiers, and countries.

(ii) Globalization involves the intensification of interconnectedness as well as flows of migration, finance, investment, and trade.

(iii) The increasing intensity and extensity of international interconnectedness could be associated with an increase of international processes and interactions, as the development of global communication and transport systems increases the rate of the dissemination of information, capital, people, goods and ideas (Goldstein & Pevehouse, 2006).

(iv) The rising intensity, extensity and rate of international interactions can be linked to their increasing impact such that the effects of distant occurrences could be very considerable in other places.

In fact, the most local events and occurrences could have considerable international implications. As such, the boundaries between international affairs and domestic matters can become more and more blurred. On the whole, globalization could be described as the broadening, increasing, accelerating and rising impact of international interconnectedness (Nederveen & Dasgupta, 2009). When globalization is thought of in this manner, then patterns of international relations and connections could be empirically mapped in all major domains of human activity.

Principal actors in international system

In the international system, the key actors include country government, international organizations, non-government organizations, multinational enterprises, inter-governmental organizations, and transnational corporations.

State Actors

On the modern world stage, the state is certainly one of the oldest and universally recognized actors. A State refers to a political unit which has sovereignty over a territory and the citizens in that territory (Gaur, 2015). Examples of states include sovereign country governments such as Italy, Canada, USA, UK, and Egypt among other countries.

Intergovernmental Organizations

Even as States are still the leading and main actors on the global stage, other important actors also exist such as intergovernmental organizations (IGOs). These are created by states, often through a treaty. The common IGOs are International Monetary Fund, World Trade Organization, International Criminal Police Organizations, and the World Bank Group. IGOs mainly do not have a way of enforcing state compliance with their decisions, perhaps except with the assistance of powerful nations (Kegley Jr. & Wittkopf, 2004).

Nongovernmental Organizations (NGOs)

Not every actor on the world’s stage has governmental roles. NGOs are essentially not-for-profit voluntary organizations which support public good or pursue it. These organizations are by and large involved in such things as economic development, issues pertaining to human rights, social welfare, as well as humanitarian assistance. Common non-governmental organizations are Greenpeace, the Amnesty International, Oxfam, and the Red Cross (Nederveen, & Dasgupta, 2009).

Multinational Enterprises

Theother significant grouping of actors comprises multinational enterprises (MNEs). These are for-profit organizations with presence in more than 1 country. It is notable that some multinational enterprises such as Sony, General Electric, General Motors, and Wal-mart have very large amounts of monetary resources that equal or exceed the resources of smaller nations like Burundi, Fiji and Somalia. It is notable that an MNE’s interests do not essentially coincide with those of the countries wherein they do business, or even the MNE’s home country (Seitan, 2014).

Sub-state actors or domestic actors

These comprise groups of persons who have the same interests not beyond the countries which can affect the foreign policy of the State. Examples include tobacco sector and automobile sector in USA. These sectors, in essence, have interests in the country’s foreign fiscal policy so that they may sell automobiles or cigarette products overseas and decrease importations of competing products produced overseas. They can influence the decisions made with regard to their country’s laws with the aim of protecting the rights of workers (Antonelli, & Fassio, 2016).

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Intergovernmental Organizations (IGOs)

These are organizations whose members comprise at least 3 countries. These organizations are formed by countries to resolve common problems that give them authority of making collective decisions to deal with various problems and issues on the international agenda (Francioni, Musso & Vardiabasis, 2013). In IGOs, the representatives of country governments assemble to talk about issues which are of shared interests to member countries. There are 2 major kinds of Intergovernmental Organizations: the global Intergovernmental Organizations and the regional Intergovernmental Organizations.

Global Intergovernmental Organizations are organizations with universal or nearly universal membership; this means that each country is a member such as the International Monetary Fund, World Trade Organization, and the United Nations. Regional Intergovernmental Organizations are essentially a subset of countries as members basing upon a certain interest or region, for instance the European Union and Association of Southeast Asian Nations (ASEAN) (Kegley Jr. & Wittkopf, 2004).

There are several reasons that cause countries to create or join Intergovernmental Organization. As per liberal institutionalism, states form Intergovernmental Organizations since it is in their best interest to form. With Intergovernmental Organizations, some problems or issues could be resolved easily and cheaper than without them. In particular, liberal institutionalism is focused on collective problems, for instance the security dilemma, the appeal to execute competitive tariffs, as well as the difficulty in agreeing to protect the environment (Art & Jervis, 2011).

Countries should correspond with one another and oversee other countries in order to ensure that they are actually sticking to their commitments to acknowledge many of the problems. For instance, in the case of free trade, the World Trade Organization was created to coordinate the negotiation of tariffs and offer a mechanism for dispute resolution. Some of these tasks may be more complex and costly to implement without the Intergovernmental Organizations (Taylor et al., 2014).

There are times in which Intergovernmental Organizations are not only formed to resolve problems but also to offer a platform for discussing crucial issues (Art & Jervis, 2011). The United Nations General Assembly has no predetermined agenda but offers a forum for countries to talk about and debate matters that come up. Likewise, one of the goals of the World Trade Organization is to organize meetings at which countries would negotiate to resolve major issues (Goldstein & Pevehouse, 2006).

Common Intergovernmental organizations and their functions

The United Nations: This is in charge of maintaining international peace and security. It also develops friendly relations amongst countries. It also seeks to accomplish international cooperation in resolving global problems. Furthermore, it functions as a center for harmonizing the actions of states. World Trade Organization: this organization manages disputes that arise from trading partners.

It also monitors trade in agriculture and manufacture commodities. ASEAN: this organization promotes regional economic, social and culture cooperation amongst the nations situated in the Southeast Asia region (Vadlamannati, 2015). NATO: this organization is a system of joint defense in which the member countries agree to collective defense in response to a military attack by a country that is not a NATO member state.

Transnational Actors

These are actors which function below the state level. However, they function across the state borders. The 2 sorts of transnational actors include nongovernmental organizations and multinational/transnational corporations. Multinational/Transnational Corporations: Multinational corporations are firms which have headquarters in one country but do business extensively in other countries. Such companies are based in one country but have divisions that operate in other nations (Goldstein & Pevehouse, 2006). Put simply, such a firm is a big organization operating globally in different nations at the same time, with fixed facilities and staff members in state.

Types of multinational companies

Industrial corporations manufacture their products in production facilities in different states and sell them to businesses and clients located in different states. The biggest multinational companies operate in the automobile, oil and electronic industries. Virtually every multinational corporation has its headquarters in the Group of Seven countries. Examples of these firms include Sony, Honda, Toyota, BP, BMW, General Motors, Wal-Mart, Total and Apple. Financial institutions like banks: these do business globally but have more restrictions compared to industrial corporations (Mehrabanfar, 2015). Examples include international airlines like Asiana Airlines, Virgin Atlantic; Hilton Hotels & Resorts and Sheraton; and services like McDonald’s fast-food chain.

Multinational corporations are becoming more and more powerful as autonomous actors. A lot of the industrial multinational corporations, Wal-Mart for instance, have yearly revenues of tens of billions of dollars annually. Multinational corporations can match most global companies in monetary resources as well as size. The biggest intergovernmental organizations, which is the United Nations, has an estimated two billion dollars annual revenue, which is really small in comparison to over 250 billion dollars for the largest multinational corporations.

The biggest country economically, USA, has government revenues of over $2 trillion annually. This clearly demonstrates that the power of multinational corporations does not rival the biggest countries but in fact surpasses a lot of poorer countries (Francioni, Musso & Vardiabasis, 2013). Multinational corporations are viewed as citizens of the world and they are beholden to not any government.

Head of Dow Chemicals Company once envisioned to purchase an island to construct the company’s head office. In such view, multinational corporations act internationally in the interests of their global stockholders. In actual fact, they do not owe loyalty to any country. Multinational corporations are motivated by the need to maximize profitability (Nederveen, & Dasgupta, 2009).

The operations of multinational corporations support an international business infrastructure linking a global community of businesspersons. For instance, an American manager who arrives in Tokyo Japan does not find a confusing and puzzling scene of strange customs, locations, as well as languages. Instead, this manager would be able to move through a known series of faxes and telephone calls, multinational hotels, airport lounges, business conference facilities, and international news broadcasts – most likely hearing the English language spoken in all of these (Mehrabanfar, 2015).

Moreover, multinational corporations contribute to the development of their host country. As transnational companies operate in other countries, they create job opportunities for the locals in that country and in so doing help to stabilize the economy in that particular country.

Nongovernmental Organizations (NGOs)

In the contemporary world, a lot of people find that by joining nongovernmental organizations, they may be able take part in the global system and lobby to influence international organizations. Most have joined as members of one or more nongovernmental organizations, which have roughly 30,000 members worldwide. Nongovernmental organizations are private global actors whose members are not countries, but rather volunteers from populations of 2 or more countries that have formed organizations to foster their common interests and ideals for the purpose of influencing the policies of intergovernmental organizations and country governments.

Nongovernmental organizations handle many international issues and seek changes in the world for various causes like human rights, environmental protection and disarmament, among others (Nederveen & Dasgupta, 2009). Many nongovernmental organizations pursue objectives that are very much respected and positive, hence do not result in any controversies or a lot of resistance.

NGOs interact with multinational companies, nation-states, and sub-state actors, plus other NGOs. NGOs are increasingly becoming recognized in the UN and other forums, as real actors together with countries but are not equal to them. Some of the groups have a political purpose, some a humanitarian purpose, while others have an economic purpose.

There are times in which nongovernmental organizations mix efforts by means of transnational advocacy networks (Antonelli & Fassio, 2016). By joining nongovernmental organizations, a lot of people learn that they may take part in the global system and lobby to influence multinational organizations.

Examples of nongovernmental organizations

A nongovernmental organization that particularly fights for human rights is the Amnesty International; a global movement of individuals campaigning for globally acknowledged human rights for everyone. They carry out research and generate actions aimed at preventing or ending serious human rights abuses and demanding justice for people whose human rights have been infringed.

The main issues which have been campaigned include freedom of the press, welfare of children, protection of civilians during armed conflicts, rights of women, disability rights, rights of people with AIDS, human impact of pollution and environmental degradation among others (Goldstein & Pevehouse, 2006). The other sort of nongovernmental organizations is the religious movement.

They are a politically active organization rooted in strong religious beliefs. Even though religious movements had a powerful influence in politics in the past decades for instance being able to cause a war between communities with different religious beliefs, religious movements these days are in fact peace makers between conflicting countries.

Political Groups that Advocate Violence: Terrorists

Political factions which support violence or terrorism may really not refer to themselves nongovernmental organizations, but they operate in more or less the same fashion which is by interacting with countries and with relevant populations or institutions by means of violence and terrorist attacks. These groups have great power. They influence the international relations between different countries. One group that is currently active is the Islamic State group.

International Criminal Groups

These actors are that are seen as transnational actors but they act in an illicit fashion. Most of these them have a great capacity of monetary resources which gives them the ability to influence the policies of the state (Goldstein & Pevehouse, 2006). Some international criminal groups can even threaten the security of the country. They are mainly operated secretly making it not easy for the authorities and the police to find them.

These groups are largely involved in various crimes including human trafficking, drugs, prostitution, as well as firearms. Examples of international criminal groups include the Sicilian Mafia in Italy, Yakuza in Japan, and also Triads in Taiwan, Macau, and Hong Kong, Macau (Art & Jervis, 2011).

Impacts of Globalization

There are several effects that emerge from globalization which impacts different economies of the world. The production of goods and services is affected by different elements of globalization. This has also seen the development of different approaches of production such as capital and other inputs and labor that are primarily dependent on the levels of globalization.

Additionally, competitiveness as seen in producing a good or service has resulted in the diffusion of technology that has resulted in the initiation of nations to other developed cities (Gaur, 2015). Having considered this, globalization is therefore ascribed as the force behind the efficiencies that have been experienced in affecting investment opportunities of different organizations within different nations and markets.

Investments are known to play a central role in technological transfer, formation of global investment and in industrial restructuring which have an effect in the national level (Luković, 2015). New technological advancements in different economies additionally remain an essential factor in globalization that stimulate competition and enhances the diffusion of nations through foreign direct investments.

Perception in world politics

Facts do not speak for themselves. Facts are organized by concepts, structured by theories, interpreted by worldviews and assessed in the light of individual and subjective value systems. Realism: this view depicts the world’s political system as a disordered chaotic struggle for security and power amongst competing nation-states. There is no higher authority besides these countries (Verma & Singh, 2010).

As such, countries individually, or alongside other countries, provide for their own defense. In essence, the only effectual way of assuring security is power. Idealism-Liberal Internationalism: this view maintains that there is reason to believe that the leading global role of countries may in fact be declining (Art & Jervis, 2011). Therefore, the world should be described not just in terms of country interactions, but also in terms of growing community.

Conclusion

In conclusion, even though countries remain as the most significant actors in the global system in today’s world, non-state actors have a growing power and influence in globalization. One of the biggest multinational enterprises has annual revenues which actually exceed some of the gross domestic product of poorer countries and this demonstrates their growing influences. As the world keeps globalizing, it would really not be easy to different between multinationals, states and other actors in a period of collapsing states and reemerging countries.

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Infinity Solar-Powered E-Bike Business Plan

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Infinity Solar-Powered E-Bike Business Plan

EXECUTIVE SUMMARY

The Infinity Solar-powered E-Bike is an innovative bicycle technology that allows users to enjoy a manual ride and experience an electric bike at the same time. While there are many varieties of e-bikes in the market, the Infinity bike is an exceptional model in that it is not only solar powered but it also has an electronic motor control, such that the rider can switch between three modes of propulsion.

Besides this, the bike comes with a speedometer, which helps the rider determine the speed at which they are riding. The Infinity solar-powered e-bike is bound to attract major fandom based on its unique features which make it ideal for protecting riders from knee and back injuries.

The Infinity solar-powered bike targets three customer segments: adventure riders, people seeking cheaper transport alternatives, and employees and students who commute regularly. To reach the customers, the company will utilize digital media and social media marketing. These methods are capable of effectively promoting the bike to the selected group.

To successfully implement this lucrative idea, a considerable amount of resources is required, including set up expenses, equipment and material, staff and marketing. The amount available to the owner is however limited, hence the need to seek funding. This business plan details information that may be necessary in informing the bank’s decision to fund the business. If successful, this will be the beginning of a highly rewarding business venture.

Introduction

As the world increasingly embraces ‘green energy’ to reduce the impact of global warming and natural resource depletion, valuable innovations have emerged in the market, with solar energy being described as one of the most sustainable sources of energy. Solar energy has been successfully used in lighting houses, water heating running machines and equipment and most recently for the solar-powered cars. In the same bearing, the motivation to build a solar E-Bike resulted from observing the endless possibilities that can be achieved using solar energy.

This is a form of energy that is not only freely available but cannot be depleted like other natural resources. This means that it will offer continuity while providing cheap energy to power the E-Bike. While the idea of the solar E-Bike is highly feasible based on research and projected benefit to individuals and the environment, the execution remains an enigma, partly due to the need for financial resources necessary to begin production.

This business plan details the major concepts behind the solar-powered E-Bike and the commercial viability of the venture. Through this business plan, it will be possible for the bank to understand the motivation behind this business venture and how the finances obtained will be used in setting up an exceptional idea that will influence future generations.

Business Plan

Business Name and Address

Name: Infinity Solar-Powered E-Bikes

Address: .,,.,,.,.,.,..,.

Proprietor’s Name and Address

Name: Jiachen Bonnie ZHANG

Address: ………………………

Business Form

This business is a sole proprietorship run and managed by the business owner.

Business Activity

Infinity Solar E-Bike is the newest innovation in the market, featuring a bicycle that has an integrated electric motor and a solar panel which can be used for propulsion. The unique bike comes with a direct charging system that allows the user to charge the bike from a power socket and a solar panel that feeds solar energy into a battery. This power bike allow the user to not only take a manual ride but also use the electric motor control and solar motor control to propel the bike, thus increasing comfort and offering flexibility. The bicycle has an electronic display on the handlebar that shows the speed and battery level at any time.

An additional feature that makes the Infinity E-Bike attractive is the fact that it is a portable and foldable bike. This makes it suitable for expeditions and long-distance adventures since they can be easily transported in a motor vehicle and retrieved when needed. The flexibility of the bike also allows users to carry it around when taking public transport and then unfolding it for use in navigating areas that are not covered by public transport. It is therefore very versatile and convenient.

Aims of the business

The solar E-bike was developed with the aim of providing users with a superior experience from ordinary bikes. The solar bike provides a cheaper option than driving a car, given that it can effectively run on solar power, requires to gas or insurance. The E-bike targets people who are working and constantly endure long hours of traffic during rush hour. With this bike, users can make it to work in good time.

The bike is designed to increase user comfort. Compared to the traditional bicycle, the Infinity E-Bike is friendlier to knees and joints, thus minimizing discomfort and chances of injury. The Infinity solar-powered e-bike provides a more upright seating position and this plays an imperative role in reducing back and neck pain. The ride is also in a position to watch for obstacles and cars more easily, thus reducing risk of accident. The e-bike does not get hot when riding uphill and riding in the wind is no longer a challenge.

The e-bike also comes with a security feature aimed at protecting the bike from theft. The e-bike requires a key to operate is heavier to move, hence making it harder to move than traditional bikes.

Objectives

To reach 5000 customers within the first three months of operation
To achieve $2,640,000 in sales in the first year of operation

Market size and growth

The idea of a solar-powered bicycle is relatively new and has not been optimally explored. However, as solar panels become increasingly portable and affordable, competition is expected to rise significantly, thus saturating the market. Solar bikes first came into existence in the 1980s but their bulky nature which consisted of a trailer to carry the solar panels negatively affected their popularity. Currently, solar powered bikes are sleeker and less bulky.

The manufacture of solar powered e-bikes is still on small scale and not commercially exploited, with innovations mostly consisting of individual creations and custom-made orders. This is associated with high manufacturing costs and low adoption by potential users. The same applies for electric-powered bikes, which have continued to gain in recent years.

Competition analysis

Competitors

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Infinity solar-powered E-Bike

	Strengths	Weaknesses
-Sleek design -Foldable -Speed reader -Solar and electric power -three riding modes -Cheap -No need for gar/insurance -High chair for easy survey of surroundings and traffic -Does not heat up when going uphill	-Heavy -New in the market hence no customer base -Not yet tested by customers on the ground -Lacks funding for development

Competitive Advantages

The Infinity Solar-Powered E-bike is designed in such a way that it seeks to provide great value for cyclists, by offering them three power modes. The user can choose to either ride manually or switch between solar and electric modes. This provides backup power and the rider is not likely to get stranded, such as when there is no sunlight. The bike provides a solution for people who want to enjoy a bicycle ride but may not desire the physical intensity involved in manual riding. Furthermore, the bicycle offers a cheap alternative to vehicle transport since it does not require the use of gas. The e-bike is of high quality and is expected to serve users in an effective manner while providing value for money.

Proposed Customers

Selecting a target market ensures that the company can design products that are tailored towards satisfying their customers (Chuwiruch, N, Jhundra-Indra and Boonlua, 2015). Proposed customer identification also ensures targeted marketing, thus enhancing efficiency (Johnson et al, 2014). The Infinity solar e-bike will target three types of customers:

Adventure riders: The e-bike is designed in such a way that it can overcome tough terrains and uphill riding. It is therefore perfect for people who ride for fun or adventure.
Individuals seeking cheap transport alternatives: The price of gas is highly volatile and maintenance of cars can be quite expensive. Public transport also has its limitations in terms of costs and convenience. The solar e-bike takes care of this by providing a cheap alternative that is also convenient.
Employees and students: This group of customers consists of individuals who must either go to school or to work every day; often spending significant amount of time in traffic. The e-bike promises to reduce the time taken to get to work by a great percentage, thus enhancing convenience. Furthermore, the e-bike is useful for traversing areas where public transport is unavailable instead of walking.

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Marketing Strategy

Marketing strategy denotes the approaches taken in ensuring that the company’s products attract demand and that they can effectively compete with others in the market (Chuwiruch, Jhundra-Indra and Boonlua, 2015). A well-structured marketing strategy will assure high sales and profitability for the company. In reference to the marketing mix, the Infinity Solar-powered E-Bike will design its marketing strategy based on the following aspects.

Product

The Infinity solar e-bike aims at providing the highest level of customer satisfaction. This will be attained through producing quality products that are long-lasting, made possible through investing in high technology machines and quality input materials (Najmaei, 2014). To ensure maximum customer satisfaction, the e-bike will be made to accomplish all the positive features described. A return policy will be put in place, such that customers can return any faulty bike.

People

At infinity, the guiding principle will be to provide customers with the best quality e-bike and the best customer service possible, with the objective of turning them into loyal customers. Customer needs will be given first priority and every employee will be required to possess customer care skills and product knowledge necessary to provide effective feedback to customers. As noted by Valick, A. & Benavides (2011), responding to customer queries is not only a responsibility of customer care representatives and marketers but a common duty for all company staff; hence the need to familiarize with all product aspects.

Price

Price is a direct determinant of demand and the company must therefore set a price that is attractive for the customer while allowing a reasonable profit margin (Davari and Strutton, 2014). The pricing policy at Infinity will be to provide e-bikes at a reasonably low price. Due to the uniqueness of the brand, the bike will not be the lowest priced but it will be lowly priced for a product of its caliber. All e-bikes will be sold at the same price even where distributors and re-sellers are involved. This will enhance uniformity in price and hence create consistency. The cost for one solar-powered e-bike will be set at $1,100 per piece.

Promotion

This refers to the method of communication to targeted customers. This must be designed to appeal to the target market so that it can be effective in attracting customers (Davari and Strutton, 2014). Infinity solar-powered e-bikes will be advertised through digital media such as television and social media. Digital media is preferred due to its ability to show motion and hence give customers an idea of how the bike works instead of placing a still picture advertisement on print media (Kotler and Armstrong, 2015).

Social media is bound to be effective because the targeted market spends a significant proportion of their time on social media (Kumar, et al, 2016). Through videos and post shares, the company will ensure that the e-bike is advertised to target customers.

Place

The need to ensure that the customers can access the product easily calls for the creation of an effective supply chain (Kirovska, Josifovska and Kiselicki, 2016; Ashby, Leat and Hudson-Smith, 2012). In essence the company must ensure that the e-bike is accessible for potential customers through considering various channels of distribution including direct sales, franchising, wholesalers and retailers (Chelliah, et al, 2013). To begin with, the Infinity solar e-bike will be available in the United Kingdombefore expanding the company’s presence in other regions. The bike will be available in leading sports stores, supermarkets and individual retail stores besides direct sales from the factory.

Equipment

Effective production of solar-powered e-bikes will require the following equipment:

Equipment	Cost
Fork fixture	$1,675
Frame building tool	$4,100
Grinders	$300
Mill	$234
Lathe	$1500
Files	$150
Vacuum cleaners	$350
Bicycle assembly machine	$4500
Rim making machine	$7,000
Tube benders	$3000
Handlebar machines	$10,000
Welders	$6,500
Grinding and polishing machines	$13,000
End-forming machines	$9,500

The number of equipment and costs involved may initially be too high for the start-up company to afford. Accordingly, some of the equipment required will be leased for the first one year.

Key people and job functions

Financial Highlights

Forecast Profit and Loss Account

Infinity Solar-Powered E-Bike

Profit and Loss Account

For Period between August 2016 to July 2017

Sales		$2,640,000 (A)
Less variable costs
Materials	$550,000
Direct wages	$40,000
Transport	$230,000
Miscellaneous	$160,000
Total variable costs		$980,000
Gross profit		$1,660,000 (B)
Less Fixed costs
Salaries and wages	$150,000
Rent	$120,000
Equipment lease	$300,000
Electricity	$60,000
Telephone costs	$170,000
Advertising	$250,000
Insurance	$24,000
License renewal	$2,000
Taxes	$230,000
Depreciation	$5,000
Other costs	$3,000
Total fixed costs		$1,164,000 (C)
Net profit		$496,000

Break-even point

(A) x (C)

(B)

= 1,851180 units

Cash flow Forecast

Month	Aug	Sep	Oct	Nov	Dec	Jan	Feb	Mar	Apr	May	Jun	Jul
SALES
Volume	3	5	5	10	15	20	25	27	30	32	33	35
Value	33,000	55,000	55,000	110,000	165,000	220,000	275,000	297,000	330,000	352,000	363,000	385,000
RECEIPTS
Sales – Cash	33,000	55,000	55,000	110,000	165,000	220,000	275,000	297,000	330,000	352,000	363,000	385,000
Sales – Debtors	0	0	0	0	0	0	0	0	0	0	0	0
Capital Introduced	100,000	140,000				250,000
Grants, loans	250,000
Total (A)	383,000	195,000	55,000	110,000	165,000	470,000	275,000	297,000	330,000	352,000	363,000	385,000
PAYMENTS
Materials	85,000	40,000	30,000	30,000	30,000	30,000	30,000	30,000	30,000	30,000	30,000	30,000
Wages/Salaries	8,000	13,500	15,500	16,000	16,000	16,000	16,000	16,000	16,000	19,000	19,000	19,000
Rent	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000
Equipment lease	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000
Electricity	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000	5,000
Telephone costs	25,000	22,000	19,000	14,000	13,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000
Advertising	30,000	30,000	25,000	20,000	20,000	20,000	20,000	20,000	20,000	15,000	15,000	15,000
Insurance	24,000	0	0	0	0	0	0	0	0	0	0	0
License renewal	2,000	0	0	0	0	0	0	0	0	0	0	0
Taxes	0	0	0	0	0	0	0	0	0	0	0	230,000
Depreciation	0	0	0	0	0	0	0	0	0	0	0	5,000
Other costs	250	250	250	250	250	250	250	250	250	250	250	250
Capital Purchases	200,000	0	0	0	0	0	150,000	0	0	0	0	0
Loan repayments	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000
Drawings/dividends	0	0	0	0	0	0	0	0	0	0	0	0
Total (B)	424,250	155,750	139,750	130,250	129,250	127,250	277,250	127,250	127,250	125,250	125,250	360,250
CASH BALANCES
Cash flow (A) – (B)	-41,250	39,250	-84,750	-20,250	35,750	342,750	-2,250	169,750	202,750	226,750	237,750	24,750
Opening balance	350,000	-41,250	-2,000	-86,750	-107,000	-71,250	271,500	269,250	439,000	641,750	868,500	1,106,250
Closing balance	-41,250	-2,000	-86,750	-107,000	-71,250	271,500	269,250	439,000	641,750	868,500	1,106,250	1,131,000

Approach to value creation

The process of value creation for the solar-powered bike business entails a five step process from when the product is developed, to when it achieves value creation.

The first step has mostly been accomplished, having developed the concept of the E-Bike and how it will operate. Gallego, Rubalcaba and Hipp (2013) present the case for innovation, stating that creating value is about presenting innovative products and services. The E-Bike presents a unique innovation which will allow users to use a E-Bike with three functions namely; manual ride, electric motor control and solar power motor control. Electronic display on the E-Bike allows the user to read speed and battery level; further demonstrating the level of innovation. The E-Bike, which is also foldable provides exceptional convenience.

The second step is demand creation, which basically includes marketing the E-bike to potential customers and convincing them to buy it. This will involve showing the value of the innovation and how it will impact their lives, affordability and durability of the E-bike (Lynch, 2012).

Once demand has been created and sales made, the next step is to convert buyers into loyal customers. This will be achieved through ensuring that the E-Bike meets their needs as expected during the marketing stage (Rath and Mousumi Singha, 2013).

Next is to enhance customer satisfaction through meeting their needs and addressing any concerns they may have regarding the E-Bike. At this level, the customers are likely to refer potential clients based on their level of satisfaction (Johnson et al, 2014).

The final step to value creation is to make customers part of the organization. By working with customers as partners, the company can seek ways to further improve the E-Bike’s performance and probably develop a new product that is more innovative (Grant, 2016). This step sets pace for the next value creation process.

Factors encouraging entrepreneurship

In life, every day is a learning process and a chance to become a better person. When I initially lost my job as a Digital Social Media company manager where I worked for six years, the next best thing would have been to seek employment elsewhere. However, I was inspired by a drive for independence and an opportunity to make a difference in the society, hence my decision to venture into business.

Moving to entrepreneurship depends on the kind of product one is dealing with and whether customers might be interested. Having observed that bicycles are widely used as a means of transport and recreation, I thought that users might be interested in a bike that offered them greater capabilities than just the manual ride. Internet searches revealed that solar power is the next energy frontier and the idea of an E-Bike appeared best suited to help me achieve my objective.

It is notable that the high level of instability in the country has impacted employment significantly. Job security is no longer assured and even where available, the level of remuneration is barely enough to sustain a favorable purchasing power. Entrepreneurship however opens endless possibilities, particularly when the product is innovative and appealing to customers. I therefore found it reasonable to increase my earning capacity through entrepreneurship, not only to improve my life but also contribute to national building through creating employment opportunities for others.

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Developing and appraising personal potential as an entrepreneur

As an entrepreneur, it is important to understand my competence and potential. In this regard, I will apply various techniques in developing and appraising personal potential as an entrepreneur. This will mostly include taking professional tests and self-assessments available online such as BDC Entrepreneurs First. The site provides a list of 50 questions on entrepreneurial attributes, motivation, attitudes and aptitudes which the user is expected to fill in.

Once completed, the site makes an analysis of the responses, which will then be used in determining entrepreneurial potential (BDC, 2016). Common professional assessment tools include Myers-Briggs Type Indicator, The Entrepreneur Equation, the StrengthsFinder, Teamability and FourSight Thinking Profile.

Functional skills appropriate to the management of SME

In the management of SMEs, certain functional skills are necessary to enhance performance and resilience in a competitive environment (Botha, Vuuren and Kunene, 2015). These skills include:

Finance management: SMEs must be in a position to manage their finances in order to stay afloat. The management must therefore be capable of managing cash flow, credit and have knowledge on financial reporting (Ayub, 2014).

Marketing: Being a small business, there is need for high level marketing to promote growth. Every contact with customers should be a chance to market the company (Goodman and Dingli, 2013). Functional skills also necessary include advertising and public relations.

Personal business skills: These include oral and written communication, computer skills, negotiation skills and organizational skills among others (Botha, Vuuren and Kunene, 2015).

Problem solving: The management of an SME should be capable of dealing with challenges and problems whenever they occur (Goodman and Dingli, 2013).

Dispute resolution: When working with a team, disputes and conflicts are also likely to emerge. The management should be in a position to resolve disputes amicably to enhance collaboration.

Conclusion

Infinity Solar-Power E-Bike presents an innovative product that is bound to change the face of solar e-bikes. The e-bike provides customers with a unique brand with flexible capabilities, demonstrated by its three function modes. This sets the bar higher because the rider can either use the manual, the electric motor control or the solar power motor control. The target customer group is expected to find the bike useful, both for navigation and fun expeditions.

As a cheap alternative to cars, the bike’s demand is expected to increase tremendously following its introduction. To enhance successful launch and sale of the product, various factors in the marketing mix are put into consideration to ensure that the product appeals to customers. The price of $1,100 is relatively cheap and the quality is excellent.

These characteristics coupled with effective promotional strategies, customer service and convenient access to the e-bikes will ensure that the company realizes adequate profits to make the business successful. The Solar E-Bike has great potential and at this juncture, the idea’s execution is only limited by unavailability of funds, hence the need to seek funding in the form of a business loan.

Reference List

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TATA Group; A Critical Analysis

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TATA Group

Abstract

TATA Group is among the largest Indian conglomerates, which has grown immensely over the years to become a well-recognized brand. The company is mostly known for its major businesses including TATA Motors, TATA Steel, TATA Power, TATA Consultancy Services, Titan, TATA Teleservices, TATA Communications and TATA Global Beverages. In this report, TATA’s environment is analyzed to determine internal and external environment factors that affect the company’s performance.

Through the SWOT and PESTEL analysis, the business environment is assessed. The company’s steel business is currently undergoing challenges after British Steel’s closure decision. In this relation, the company must seek alternative areas to invest in to ensure that the business continues to thrive.

Spain and China are suggested as potential countries and these are discussed in regard to their attractiveness. The paper also provides recommendations for TATA based on information collected from the report. By the end of the report, the reader will have a greater understanding of TATA, its operations and factors that affect its performance.

TATA Group

Introduction

TATA Group has developed its niche as a leading multinational company in India and in the world, having evolved from a small family business began 148 years ago. Taking advantage of increasing globalization, the company has expanded its business across borders and increased the types of businesses that it deals with by venturing into different industries. TATA’s success is associated with the favorable macro-environment, particularly in India that helped the company grow significantly.

The company’s commitment to success cannot be underestimated either and it is notable that by leveraging its strengths and market opportunities, TATA has grown its portfolio tremendously. TATA continues to expand its operations internationally through global acquisitions. However, not all its ventures have been successful, owing to country-specific factors that influence its business operations.

Selecting a potential country for further global expansion therefore requires that TATA performs thorough market research to establish marketplaces in which the company is likely to thrive. This paper seeks to identify factors in the macro-environment, which may have influenced TATA’s success as a leading company in India. It also outlines some of the countries in which TATA could further expand its operations and provides a recommended country TATA’s steel business.

Company Background

TATA Group is considered one of India’s global pillar, whose multinational status has seen it become a major conglomerate in India. The company which was formed in 1868 is headquartered in Mumbai, Maharashtra. TATA owns several companies which are independently operated and has over 600,000 employees. Through the years, the company has made several acquisitions across the globe, further improving its international presence.

The company continues to enjoy a global reach and considerable profit levels, with the latest financial information indicating that the company garnered $108.7 billion in 2014/2015 financial year (tata.com). TATA Group consists of different sub-companies including TATA Motors, TATA Steel, TATA Power, TATA Consultancy Services, Titan, TATA Teleservices, TATA Communications and TATA Global Beverages.

Besides its many sub-companies, TATA’s growth can be attributed to the purchase of various businesses globally including Daewoo Commercial Vehicle Company, Land Rover, Jaguar Cars, Eight O’clock Coffee an Good Earth Corporation among others, propelling it to an internationally recognized organization (tata.com).

Discussion

Macro-environmental factors

SWOT Analysis

Strengths Strong financial performance Brand strength Foreign investment Diversification Management professionalism and regard to employee welfare International acquisitions and collaboration Corporate social responsibility/ Commitment towards national growth	Opportunities Favorable government policies Emerging markets and developing countries Strategic alliances and mergers New product lines Increasing per capita income Changing customer needs
Weaknesses Excessive debt Diversification Management and control Controversy on illegal land acquisition Environmental concerns	Threats Rising cost of material and manufacturing Competition Economic and business volatility

Strengths

TATA’s strong financial performance plays a major role in enhancing its performance. Based on its last financial results, the group collectively earned $108.7 billion in revenue and $6.7 billion in profits in the 2014/2015 financial year. The company also owns major assets and property, which further enhance its financial position. Lynch (2012) notes that when a company is financially stable, it is more likely to mitigate any threats within the market place.

Brand strength remains a major boost for TATA. The company is not only well known in India but also internationally, mostly for its motor vehicle and steel business. This means that customers are more likely to trust its products and services.

TATA has invested significantly in foreign markets through direct investment, subsidiaries, strategic alliances and subsidiaries (Au, Ayyagari and Spencer, 2015). This gives the company a strong ground in the global market and also promotes its financial performance. Due to its global presence, TATA has gained tremendous experience on international trade and is therefore capable of enhanced success in terms of internationalization.

TATA has invested in numerous industries and this form of diversification is of great significance to its portfolio. To begin with, it means that the company can shield itself in times of financial crisis by benefitting from companies that are performing well. In essence, other companies can support the company’s performance in the event that certain industries are affected by business or environmental factors; thus enhancing continuity (Ramachandran, Manikandan and Pant, 2013).

Management professionalism and regard to employee welfare has ensured retention of professional managers and high performing employees. TATA is known for its hands-off approach where managers are allowed to make independent decisions without influence from the owners. This hastens business processes and is therefore considered a major strength for the company. It also provides attractive benefits for its employees and is thereby considered an employer of choice.

International acquisitions and collaboration ensure that the company’s international presence continues to grow. These add to the company’s financial performance and international experience and are therefore of major significance.

TATA is known for its commitment to corporate social responsibility, having undertaken numerous projects to promote living standards in India. TATA has invested in education, research, art, sports and cultural endeavors and is well known for its philanthropy. In 2007, TATA received the Carnegie Medal of Philanthropy (Carnegie, 2015). Corporate social responsibility is hailed in the business world as an efficient way to create a strong brand by creating community trust (Grant, 2016).

Opportunities

Favorable government policies have ensured that TATA conducts its business effectively. The company has received major support from the government of India and this has to a great extent enhanced its performance. TATA has also been well received in other countries where it operates. This is an opportunity that the TATA could utilize by investing more in its business.

Emerging markets including rural areas and developing countries present a good opportunity for TATA to exploit. The company should therefore work towards reaching these markets before they are exploited by others.

Strategic alliances and mergers are still a lucrative approach towards enhancing the company’s global market. It is notable that many companies across the globe are seeking companies they can collaborate with to achieve various goals including technological innovation. Companies considering buy-outs due to financial difficulties are also increasing and TATA could take advantage of such opportunities for growth.

TATA Group can enhance its performance through diversifying into new product lines. This will enhance their performance and hence promote is global position.

Weaknesses

TATA operates numerous companies and is constantly engaging in investment activities that require large amounts of money, such that it has accumulated a significant level of debt. These are repaid from its business proceeds and this means that in the event that business is affected by unforeseen risks, it may be difficult for the company to effectively repay the loans (Boone and Kurtz, 2012).

Diversification is considered a positive aspect of business performance. However, it may also present difficulties in management, such that the company fails to ensure optimal performance for each product (Boone and Kurtz, 2012). This could threaten TATA’s performance.

The TATA family is no longer managing the group of companies and this has been delegated to independent companies, which work under the board. Management and control issues could therefore be experienced if the respective managers are not as committed to success as the owners.

Controversy on illegal land acquisition has tainted TATA’s image to a significant extent. The company was a victim of public uproar on land grabbing accusations. This has affected TATA Tea and TATA Steel in India, where communities have claimed ownership of land possessed by TATA.

Environmental concerns have also emerged, with the company being accused of encroaching natural endowments and polluting the environment (Masani, 2015). This may affect the company’s reputation and thus limit its performance.

Threats

The rise in the number of businesses globally cannot be underestimated and TATA therefore faces stiff competition from emerging and existing businesses.

Rising cost of material and manufacturing is affecting the company’s productivity, given that it has to contend with lower profits than it would if the conditions remained the same.

TATA like any other company faces a major challenge in the form of economic and business volatility. According to Grant (2016), the world economy is highly unstable and components including interest rates, inflation, availability of credit, per capita income and customer demand keep changing. This is a major risk for global companies such as TATA.

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PESTEL Analysis

Political Factors

These refer to factors in the political environment in which a company operates. India enjoys a generally stable political environment that is suitable for business. TATA is however exposed to changes in government regimes that may influence the business environment through new regulations and policies (Beneke et al, 2013).

An example of a new law that is bound to affect TATA is the new rule on corporate social responsibility, where companies may be expected to give 2% of net profit earned towards community development. Given that TATA operates in different countries, the risk of international trade regulations is eminent. An example is the adoption of policies aimed at protecting local organizations, which is bound to affect international companies in a significant manner.

Economic Factors

The global economic conditions in recent years have been volatile and this to s significant extent affects company performance. The global economic crisis for example hit most companies, affecting their profitability. The collapse of British Steel following market factors is also a demonstration of economic impact on the business. India’s steel market remains among the largest in the world and this has ensured that TATA’s steel business grows steadily.

Social

The community in which TATA operates has influenced the company’s operations both positively and negatively. As the company expands, there are greater expectations from the company to give back to the community (Masani, 2015). This is further exacerbated by competitive pressure. TATA must therefore invest more in community social responsibility in order to create a good name for itself. Globalization has led to changes in indigenous culture and this has prompted TATA to invest in activities aimed at preserving the Indian culture.

Technological

In a world where technology is evolving rapidly, TATA is faced by the need to keep investing in newer technology. Customers are increasingly demanding highly sophisticated products and TATA is affected through increased expenditure for these products. In car manufacturing for example, the acquisition of Jaguar and Land Rover presents the company with a daunting task in terms of innovation, which will ensure that these cars maintain their class. The company must therefore be in touch with advances in technology to maintain its competitive position (Masani, 2015).

Environmental

There is growing pressure for companies to preserve the environment through exercising safe environmental practices; including the preservation of natural resources and reducing pollution. The company is striving to protect the environment through taking specific measures such as producing low fuel consumption cars and reducing gas emissions.

The company also participates in activities aimed at reducing industrial pollution, such as “Green Earth” campaigns; and preventing deforestation (tata.com). In the past, TATA has received criticism over river pollution, air pollution through gas emissions and natural resources encroachment.

Legal

TATA operates in different countries where varying laws governing business operations and issues such as taxation, employment and environmental responsibility among other factors (Beneke, 2013). The company has also been exposed to various legal battles during its existence, including legal cases challenging land ownership such as the Kerala Government law suit. In this case, TATA Tea was accused of grabbing 3,000 acres of government land in Munnar.

Potential international marketplaces for TATA foreign acquisition

As the world becomes increasingly interconnected following globalization, TATA may choose to invest in other countries, which also demonstrate great potential for business. Some of the countries in which TATA could invest in are discussed below.

Spain

The Forbes Magazine ranks Spain as the second-best country to invest in (Rapoza, 2015). This is based on its stable economic environment and the business environment has improved tremendously. The government recently reduced corporate taxation from 30-28% and tax rate on income from 56-47% (Rapoza, 2015). Tax on savings has also decreased, meaning that disposable income among consumers is bound to increase.

These conditions are favorable for the company and TATA should therefore consider investing in Spain. Currently, Spain’s GDP per capita is $1.7 trillion. At more than 3% per year, Spain’s economic growth can be considered strong; having recovered from the property boom effects. The country is highly ranked 16^th in terms of purchasing power parity globally. TATA could therefore benefit significantly through investing in Spain for its steel business due to market availability.

China

China has been considered an attractive market to invest in, mostly based on its vibrant economic growth and the low cost of inputs and resources, including cheap labor. China has in the recent past attracted major investors who seek to capitalize on the favorable business conditions and government policy aimed at attracting foreign direct investment (Jalil and Feridun, 2011). The country also enjoys a stable political environment. It is notable that China is slowing down in terms of inward foreign direct investment and increasingly favoring alliances (Davies, 2013). This is therefore a great opportunity for TATA to leverage on.

In recent years, China has witnessed increased economic strength. Until 2015 when India overtook China as the fastest growing economy, China was taking the lead and this still presents the country as a lucrative marketplace to invest in. The country’s growth has averaged 10% over the last 30 years and its GDP per capita was $19.392 trillion in 2015 (IMF, 2016). The GDP growth in 2015 was recorded at 6.9%.

Preferred international marketplace for TATA Steel

TATA Steel faces a major challenge as British Steel heads for closure. Based on the discussion of potential global marketplaces where TATA could seek further acquisitions in China is recommended as the preferred location to further internationalize its steel making business. This is based on its favorability in terms of investment environment, government policy and steady economic environment. Johnson et al. (2014) notes that in order to make a decision on investment, the macro-environment within the country must be effectively studied to ensure that it will enhance business performance.

One of the first indicators of a conducive business environment is the economic environment, which should favor business growth and continuity. In this case, it can be established that the company is performing well and that potential for growth is high. Secondly, government accommodation towards foreign companies is also an important consideration for TATA to consider (Au, Ayyagari and Spencer, 2012). The survey on China indicates that the government policy supports foreign direct investment and TATA can therefore invest with confidence.

China’s government is on a mission to promote economic performance and reduce poverty; which has resulted in aggressive approaches aimed at increasing investment within the country. According to the Five-year Plan for 2016-2020, China aims at eliminating poverty and enhancing China’s development through creating a ‘new normal’, where China will no longer be viewed as a ‘cheap’ hub but an established economy (Hong, Cheung and Sit, 2015). One of the major ways this will be achieved is through promoting innovation investment, which TATA could leverage.

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Conclusion

This report explores TATA Group and its environment, establishing that it is influenced by various factors in its internal and external environments. It can be established that the company is performing exceptionally and that its current approach of managerial independence has contributed to its growth.

Owing to the high level of diversification, the company’s risks are spread across many sectors and this creates financial security. The company like any other company faces stiff competition and factors in the environment affect its operations. An example is British Steel which has been affected by economic factors, threatening its closure. In order to further expand its operations to other international markets, TATA could choose between Spain and China.

These two countries present perfect opportunities for the company, although China is considered as having greater potential for growth. This is because of its high economic growth and the fact that its steel industry has grown significantly.

Recommendations

TATA faces significant threats as established in the SWOT analysis. To address these challenges, the company needs to capitalize on its major strengths and opportunities to recover from such threats. An example is utilizing its strong financial position to invest more in new technology and innovation to create a competitive edge.

Continued diversification efforts by TATA need to be managed in order to ensure that they do not overwhelm the company. As noted in Masani (2015), too much diversification may hurt the company’s prospects and it is best that it engages in only what is achievable.

The need to protect the company from legal issues is imperative. This means that TATA should seek to refrain from activities that expose the company to such, including environmental degradation. In this relation, it should get more vigilant in terms of environmental conservation.

In its quest to invest more in the international market, the company must ensure that a thorough background is conducted to ensure that the country will accommodate the company.

Secondly, TATA needs to determine the possible unforeseen risks that may emerge in the market and thus develop a risk mitigation plan that can be applied in such a case.

References

Au, L. A., Ayyagari, M., & Spencer, J. (2015). Strategic Responses to FDI in Emerging Markets: Are Core Members More Responsive Than Peripheral Members Of Business Groups? Academy Of Management Journal, 58(6), 1869-1894. doi:10.5465/amj.2012.0521 Retrieved from eds.b.ebscohost.com/ehost/detail/detail?vid=5&sid=a0b3dfef-e1fe-4e6f-a386-ec4d7de005a4%40sessionmgr106&hid=103&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#AN=111855985&db=bth

Beneke, J., et al. (2013). The influence of perceived product quality, relative price and risk on customer value and willingness to buy: a study of private label merchandise. Journal of Product & Brand Management, 22(3), pp.218-228.

Boone, L. E., & Kurtz, D. L. (2012). Contemporary Marketing. New York: Cengage Learning. Carnegie. (2015). Announcing the 2015 Carnegie Medal of Philanthropy Honorees. Retrieved from https://www.carnegie.org/news/articles/announcing-the-2015-carnegie-medal-of-philanthropy/

Grant, R. M. (2016). Contemporary Strategy Analysis: text and cases, 9th edn. Chichester: Wiley & Sons.

Hong, W., Cheung, D. & Sit, D. (2015). China’s 13th Five-Year Plan (2016-2020): Redefining China’s development paradigm under the New Normal. Retrieved from https://www.fbicgroup.com/sites/default/files/China’s%2013th%20Five-Year%20Plan%20(2016-2020)%20Redefining%20China’s%20development%20paradigm%20under%20the%20New%20Normal.pdf

International Monetary Fund, IMF. (2016). Report for Selected Countries and Subjects. Retrieved from www.imf.org/external/pubs/ft/weo/2013/01/weodata/weorept.aspx?sy=1980&ey=2018&sort=country&ds=.&br=1&pr1.x=40&pr1.y=0&c=924&s=NGDP_RPCH%2CPPPPC&grp=0&a=

Jalil, A., & Feridun, M. (2011). Long-run relationship between income inequality and financial development in China. Journal of the Asia Pacific Economy, 16 (2). pp. 202-214

Johnson et al. (2014). Exploring Strategy: text and cases, 10th edn. London: Pearson.

Lynch R (2012). Strategic Management, 6th Ed. London: Prentice Hall

Manikandan, K. S., & Ramachandran, J. (2015). Beyond institutional voids: Business groups, incomplete markets, and organizational form. Strategic Management Journal, 36(4), 598-617. doi:10.1002/smj.2226 Retrieved from eds.b.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=88d6a802-f8b6-4c73-bae4-1116ab61ef00%40sessionmgr107&vid=1&hid=103

Masani, Z. (2015, February 6). Tata: India’s Global Giant. [Audio podcast]. Retrieved from www.bbc.co.uk/programmes/b0512j9b

Ramachandran, J., Manikandan, K. S., & Pant, A. (2013). Why Conglomerates Thrive (Outside the U.S.). Harvard Business Review, 91(12), 110-119. Retrieved from eds.b.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=5262165e-4c89-48a6-9114-63d931dbabb8%40sessionmgr104&vid=1&hid=103

Rapoza, K. (2015). The Best Countries for Your Investment. Retrieved from www.forbes.com/sites/kenrapoza/2015/03/06/the-best-countries-for-your-investment/#52070d661e12

TATA Website. http://tata.com/

Valick, A. & Benavides, T. J. (2011). Practical Human Resources for Public Managers: A Case Study Approach. Boca Raton, FL: CRC Press.

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Promotional Strategies: MistAway Case Study

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Promotional Strategies

MistAway Case Study

MistAway is a mosquito misting system that is designed to control mosquitos and some other troublesome insects from one’s courtyard. It is a permanently installed system that kills all mosquitos within its perimeter all year round. To ensure that MistAway is familiarized and is used more than the other methods of mosquito control, the manufacturers have employed a number of promotional strategies. The push and pull promotional strategies have been used intensively through Mistaway.com website.

MistAway Company guarantees installation services to their customers, which is an example of Push promotional strategies. With this type of promotional strategies, a seller gives offers so as to attract customers, something which they have effectively done through their installation programs. Through the dealers, customers are guaranteed of consistent maintenance services for their systems. A pull strategy is yet another intensely used promotional tool, as MistAway manufacturers use advertisement to a great extent in luring customers to use their services. With this approach, the seller creates a need so that buyers find it necessary to use their services. MistAway manufacturers show a number of videos about the effectiveness of the system as compared to other methods. Besides, they have educational videos on the advantages of the system and why individuals should install it in their backyards.

The use of pull and push approach is effective in serving the marketing strategies of MistAway manufactures. Teaching people about the utilization of particular technologies, and helping them see the effectiveness raises their demand for that product. Further, guaranteeing of assistance regarding maintenance and installation services reduces their cost.

MistAway manufacturers could be targeting homesteads and other institutions as hotels. Provision of outdoor mosquito control is a good idea for places that are designed for providing comfortable and serene environments.

Though the strategies used by the MistAway manufacturers is valid, it may not be sufficient for them to reach a wider market. The website-based advertisement may not arrive at a large number of potential users, which limits their organizational targets. So as to have an improvement in this aspect, the company may employ other platforms such as social media, televisions, and others.

Healthcare marketing activities and strategies should be unique from other forms in the sense that they should be focused on patient and user outcomes rather that profit making. Healthcare marketers should give priority to the welfare of patients and the whole population. It should not be carried out to lure persons to use services that are not designed for them. Accountability and care should be an essential part of all healthcare advertisements.

References

Berkowitz, E. N. (2011). Essentials of health care marketing (3^rd Ed.). Sudbury, MA: Jones and Bartlett. Retrieved from https://books.google.co.ke/books?hl=en&lr=&id=oMH-LBzlaYUC&oi=fnd&pg=PR1&dq=Essentials+of+Health+Care+Marketing&ots=H55ce9WSFn&sig=ILvBq8lHdGSlgf6Z_za3eJl09C0&redir_esc=y#v=onepage&q=Essentials%20of%20Health%20Care%20Marketing&f=false.

Laureate Education, Inc. (Executive Producer). (2010). Strategic planning and implementation: Strategic planning in action: Good Samaritan Hospital of Maryland. Baltimore, MD:

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Types of Operational Conflicts

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Operational Conflicts

With the current globalization of the business environments, it is common for one to find themselves managing a company in a country away from theirs. Therefore, one has to get used to the culture in the country because it dictates the way the people of the environment do things. Usually, many aspects of culture among different people differ greatly, leading to environments that encourage operational conflicts. Therefore unless the manager understands the cultural diversity of different places, the operational conflicts may hinder the accomplishment of goals of the organization. There are several operational conflicts that the paper will examine.

One of the types of operational conflicts is time. While members of one culture may value time saving and the use of deadlines, individuals from another country may view time otherwise. An example of such differences in the view of the importance of time is between the America and the Arabic cultures. While Americans put deadlines and value keeping their time, the Arabs may see deadlines as disrespectful, and the word “bukra” is used to mean tomorrow (Al-Kandari & Gaither, 2011).

Change is another aspect that may result in conflicts in international organizations. While some cultures are skeptical about changes, others openly embrace change (Rinne, Steel, & Fairweather, 2012). Therefore, a person from a culture that is less skeptical about changes in the environment of work or even strategy may encounter a lot of hardship in another country. For instance, according to Hofstede’s cultural model, Russians a have higher degree of uncertainty avoidance index and therefore they may not like changes.

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Individualism may also result to operational conflicts in international organizations. The Hofstede’s cultural dimension model presupposes that some cultures are more individualistic and prefer that people’s achievements are attributed to individual employees rather than organizations (Rinne et al., 2012). In such cultures, people who believe more in teamwork may run into conflicts while trying to work with colleagues.

In summary, people from different cultures hold different beliefs and therefore operate differently. Hence, working in multicultural environments or foreign countries may present the challenge of many conflicts unless as a manager, one understands the local culture. The sources of conflict, among others, may include time, changes and the degree of individualism.

References

Al-Kandari, A., & Gaither, T. K. (2011). Arabs, the west and public relations: A critical/cultural study of Arab cultural values. Public Relations Review, 37(3), 266–273. http://doi.org/10.1016/j.pubrev.2011.04.002

Rinne, T., Steel, G. D., & Fairweather, J. (2012). Hofstede and Shane Revisited: The Role of Power Distance and Individualism in National-Level Innovation Success. Cross-Cultural Research, 46(2), 91–108. http://doi.org/10.1177/1069397111423898

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The Four Business Elements: Consultancy Report

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The Four Business Elements: A Consultancy Report

Instruction

Elbanna (2009) asserts that the use of the four elements concerning the business management to different corporate is considered one of the most important aspect. Nonetheless, proper and successful implementation of a business financial program requires the full application of the four famous four functions concerning the management of the business (Elbanna, 2009).

The major purpose of creating incorporate the best business ideas is to ensure that the best business ideas have been applied in parliamentary procedure to create a solid institution and production background, which is likewise run by a highly productive team (Ajmal et al., 2009). Therefore, this paper will delve on determining how the appropriate implementation of the four business elements can be employed to manage the Outdoor Adventure called Outdoor Paintball Park.

How the Four Business Elements can be used to improve the outdoor venture

First, it is worth noting that the Outdoor Adventure Paintball Park is one of the most contemporary businesses that offer Outdoor Adventure. The appropriate adoption and the application of the business management tool is considered important, especially considering that the out adventure has continued experiencing some of the most important management inefficiencies (Rind Christensen & Klyver, 2006).

Therefore, the use of the P-L-O-C platform will help pinpoint some of the issues that have ended up affecting the company’s effective performance and how the move can improve the rate of the goal attainment (Elbanna, 2009). As a result, several issues will be covered during the recommendation stage, which includes important facts such as the;

The need for devising a proper and mind blowing business statement concerning the business
Creating a better way that will improve the management of scarce organizational resources such as the enactment of a proper and a functional personnel
Laying more emphasis on the need for recruiting employees through training in order to make them fit and ready to work within the new company
Creation of a proper mechanism that can be used to conduct tom improve the standard, as well as other forms of the measurable outcomes
Devising a good mechanism that can pave way for the effective achievement of the organizational achievements where the members should be encouraged to use the P-L-O-C principles and practices

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The Incorporation of the Proper Planning Procedure

First, it is imperative noting the use of a proper planning procedure is considered one of the most important aspects when it comes to devising the proper ways that can improve the business performance (Rind Christensen & Klyver, 2006). As the financial business consultant, one should understand that he/she is supposed to make sure the businesses can only be implemented through the appropriate setting of the business objectives (Elbanna, 2009).

Moreover, the consultant should also demonstrate, clearly, how the business owner(s) should come up with a proper management the set goals in a more clear and effective manner (Ajmal et al., 2009). Some of the business activities and aspects that can be improved through the appropriate use of planning procedure include;

The setting up of a good mission and vision statement- here, it will be appropriate devising an appropriate mission and vision statement for the new company since it is clear it lacks one. Thus, some of the recommended mission and vision statement are listed below;

“The achievement of happiness among the teenagers, working teams, and the young adults, through offering the best outdoor experience, is our ultimate and final goal as the Outdoor Paintball Park Community.”

“Strive to become the leading and number one company in providing ‘refreshing’ experience of the teenagers and the young adults while becoming a leading source of livelihood to the young adults”

The use of a clear and concise mission and vision statement can help to realign the general process of achieving the overall goals of the Outdoor Adventure. As such, it should be carried out in a more comprehensive and careful manner. In fact, this is the only way the organization will be able to meet its long-run objectives (Cobbold et al., 2004).

The Implementation of the Organizing Procedure

The organization should go ahead with the definition of the culture. It is worth remembering that the birth of the business came as a coincidence when the three family members joined hands (Ajmal et al., 2009). Therefore, in order to achieve a good way of improving the cultures, the organization should integrate it with the themes of the mission and vision statements (Parks, 2000).

The organizational structure should also be created where there should be a clear distinction of each and everyone’s role. The proper implementation of such procedures will help eliminate issues such as the development of conflict during the business development stage (Parks, 2000). Each member should be given the overall authority of achieving certain strategic objectives in order to avoid a collision.

The Incorporation of the Leadership Skills

It is an imperative noting Outdoor Adventure lacks a proper mechanism of defining its leadership hierarchy. Thus, the move has the potential of affecting not only the lowly ranked employees but also the target and potential customers (Cobbold et al., 2004). Therefore, in order to improve the leadership skills, the company should emphasize on the need to providing constant training and undertaking of seminars for the employees who are in the leadership positions.

The move will help expand their mind on how they can handle a diverse workplace and customers (Parks, 2000). As a result, the move will help meet their satisfaction. The other employees should also be empowered, through training them regularly, in order to promote their independent thinking to promote the organization (Cobbold et al., 2004).

The use Control Procedure

The Outdoor Adventure will need to devise a proper way that will be used to define standards, as well as measure the achievement of the target results. The move will make the achievement of the appropriate objectives are highly achievable. For instance, it can make of instruments such as the balanced scorecard (Chavan, 2009). According to Chavan (2009), the use of the use an instrument will help to translate the laid strategies, mission, and vision into a reality.

References

Ajmal, M. M., Nordström, F., & Helo, P. (2009). Assessing the effectiveness of business consulting in operations development projects. Int J Productivity & Perf Mgmt, 58(6), 523-541. Retrieved from http://www.emeraldinsight.com/doi/abs/10.1108/17410400910977073

Chavan, M. (2009). The balanced scorecard: a new challenge. Journal of Mgmt Development, 28(5), 393-406. Retrieved from http://www.emeraldinsight.com/doi/abs/10.1108/02621710910955930

Cobbold, I., Lawrie, G., & Issa, K. (2004). Designing a strategic management system using the third‐generation balanced scorecard. Int J Productivity & Perf Mgmt, 53(7), 624-633. Retrieved from http://www.emeraldinsight.com/doi/abs/10.1108/175542509109653459

Elbanna, S. (2009). Determinants of strategic planning effectiveness: extension of earlier work. Journal of Strategy and Mgt, 2(2), 175-187. Retrieved from http://www.emeraldinsight.com/doi/abs/10.1108/17554250910965326

Parks, M. (2000). Consulting. Journal of Business Strategy, 21(1), 10-11. Retrieved from http://www.emeraldinsight.com/doi/abs/10.1108/eb040052

Rind Christensen, P., & Klyver, K. (2006). Management consultancy in small firms: how does interaction work? Jrnl of Small Bus Ente Dev, 13(3), 299-313. Retrieved from http://www.emeraldinsight.com/doi/abs/10.1108/14626000610680217

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Effect of Globalization on Key Factors in the International System

How Is Globalization Affecting the Key Actors in the International System?

Introduction

Globalization basically has no precise definition. In actual fact, globalization is in danger of becoming the truism of the modern era. Even so, the word globalization encompasses aspects of an extensive perception that there is a widening, deepening and accelerating of global interconnectedness in virtually every aspect of life (Rourke & Boyer, 2000). At the core of globalization is a global shift; meaning, the globe being shaped by technological and economic forces, into a collective political and economic arena. The three main perspectives with regard to globalization include transformationalist, the sceptical, and the hyperglobalist viewpoints (Verma & Singh, 2010).

The sceptical: those with this viewpoint strongly oppose the perspective of hyperglobalists and maintain that present-day global circumstances are not unprecedented. According to them, although there has been an increase in social and international activity in the past few years, this has served to reinforce and enhance the powers of state in a number of domains (D’Anieri, 2011).

Transformationalists: those who have this view maintain that globalization is producing novel economic, political as well as social situations that are actually altering powers of the state and the context wherein countries operate. Transformationalists do not try to envisage the outcome (Popa, 2014). They maintain that it is uncertain – but assert that politics is not just rooted in nation-states.

Globalization

Furthermore, globalization is typified by 4 kinds of change:

(i) globalization entails a stretching of economic, political and social activities across political regions, frontiers, and countries.

(ii) Globalization involves the intensification of interconnectedness as well as flows of migration, finance, investment, and trade.

Principal actors in international system

State Actors

Intergovernmental Organizations

Nongovernmental Organizations (NGOs)

Multinational Enterprises

Sub-state actors or domestic actors

Intergovernmental Organizations (IGOs)

Common Intergovernmental organizations and their functions

Transnational Actors

Types of multinational companies

Financial institutions like banks: these do business globally but have more restrictions compared to industrial corporations (Mehrabanfar, 2015). Examples include international airlines like Asiana Airlines, Virgin Atlantic; Hilton Hotels & Resorts and Sheraton; and services like McDonald’s fast-food chain.