The St. Francis Care Clinic healthcare facility is developed to assist in meeting current health care demands and to improve access of care for residents in this community. The healthcare facility aims at providing safe, effective, timely, equitable and patient centered care to patients from diverse backgrounds. The primary care services will be provided by nurse practitioners (NPs) who will offer different experience to provide holistic care, open communication, therapeutic listening, and skills in counseling (Pinson, 2008).
The facilities vision is to deliver affordable and high quality of care to patients in order to promote the health as well as the well being of the citizens. The healthcare facility will seat on 1500 Square feet commercial office (leased). The facility has only one direct primary care clinics and 12 physicians. The indirect competitors are two emergency departments found in the one local medical center.
The competitor’s strengths are that the local medical centers have established physician providers with established referrals process. The critical key to success of this clinic is public education on services health services delivered and in managing reimbursement procedures (Buppert, 2014).
Monthly cost estimation
Expenses
Cost ($)
Clinical sites expenses
53,000
Supplies
25,000
Employee structure and expenses
72,450
Malpractice insurance
60,050
Utilities and overhead expenses
14,695
Accounting fee
20,000
Continuing education expenses
13,435
Total
258, 630
The clinic start up expenses will be obtained from a business loan of $100,725 with interest of 9% that will be paid out over 7 years. Although the clinic is expected to be profitable, the cash revenue is expected to remain negative until year 3. The loan repayment in the first year interest is estimated to be $10, 824.
The cost of operations in year 1 is estimated to be 120,121 and sales of $154,000, indicating a small profit in year 1. With addition of more healthcare services in year 2, the operating income is expected to reach $60,662, and the trend is expected to increase in the subsequent years.
The business is expected to grow and expect more income as the loan diminishes. The fixed costs are expected to remain the same with little or no depreciation. On the other hand, the variable cost will increase with increase income. I will contribute $50,000, bringing the total start up expenses to $150, 725.
The healthcare services that will be delivered in this clinic include primary care such as physical examinations, diagnosing, screenings, treatment as well as management of chronic and acute healthcare disorders. Other services that will be provided include preventive care, immunization, diabetes management, HIV/AIDs and smoking.
The facility will accept all public medical covers such as State Children’s Health Insurance Program (SCHIP), Medicaid and private medical covers. The Medicaid reimbursement will be calculated based on rate per unit, whereas the commercial insurances will be based on the company’s own policy. Managed care organizations will be reimbursed based on the negotiated contracts (Sally and Reel, 2013).
Summary
In summation, the estimated costs and assumptions indicates that the clinic is a viable nurse managed healthcare setting. The start up of this healthcare facility will require funding from loan and adequate time to return the amount of money borrowed. However, the projected revenue and expenditures indicates that small profit will be made. To reduce the negative cash flow, I may consider looking for partners or applying for grants so as to reduce the start up expenses.
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Case Study: The Peeples Family DVD and Game Rental Company DBMS
Abstract
Technology has changed the way corporations carry out their everyday activities. For any company to remain relevant in a highly technological world, they have to embrace modern tools. While Peeples Family DVD and Game Rental Company is a start-up, its reliance on paperwork may be its undoing when it comes to competing against business rivals.
However, the adoption of the new repository is strategic when it comes to offering quality service, proficiency, controlled inventory, informed decision making and a return on investment. In this age, when every other organization is jostling to implement technology, the use of the database will eradicate cabinets and shelves.
Apart from the ease of use, and increased efficiency, the technology will enable the company to have a competitive edge. This project is about the transition from paperwork to the adoption of database technology for enhanced management at Peeples Family DVD and Game Rental Company.
Purpose and Goal of the Project
Peeples Family DVD and Game Rental Company was founded by two computer scientists called Wayne and Marisol Peeples in 2007. The residents of Willow subdivision that comprise of 120 families is served by this company, which deals with rental of videos. However, Peeples Family DVD and Game Rental Company need a computerized system to keep track of all the money that flows in and out of the business and the assets.
While the company is smaller than the traditional video store, this process becomes easy to follow. With a paltry investment of $300, the company could cause the business to boast of success or be deemed a failure. As founders, we have not been aggressive enough to make a lot of money with the business.
The company was meant for the children not just in our community but in the neighboring communities as well. Because children are fond of movies, there was a need to feed them with much-needed content. The company has been operating largely from donations and from the small investment we plow back in the business. This has seen us invest approximately 90% of our profits back to the company.
The company is still in its embryonic state with less complex transactions, as such, we never conceptualized the need for computerisation of the equipment and information in our stores. The company relied heavily on paperwork, however, this is proving not just tedious for us but has also had a toll order on the proficiency.
The business has since grown with the closure of the traditional video renting stores that were competing with other company. The increased demand for entertainment has compelled us to shift from a small company mentality by increasing the capacity of the company. This has also resulted in the adoption of technological application that will render paperwork irrelevant.
With computerized systems, the company is able to track inventories, forecast the demand, enhance efficiency and ensure the quality of services. In the long run, this technology will ultimately offer a return on investments (ROI). The decision to transition from paperwork to embracing computerized system will ensure that the company is able to satisfy the needs of clients. It will also avoid overstocking as well as understocking. Moreover, technology will help the leadership make informed decisions for the sake of customer and its posterity.
The media room that has the capacity of seventy-five people was also added targeting private events. Research on the benefits accrued by using a database showed that it was a good thing to use since it is efficient and easy to use. It was then seen to be a good idea worth implementation into the company.
A relational data will be created on Microsoft access which is aimed at keeping track of all the DVDs and video games. The database will be important in the management of the company and its branches in case we think of setting them up. The whole research points at numerous advantages in using the database.
The main reason for the selection of Microsoft Access is its ability to work with databases without being intensively gifted in the discipline. The simple-to-make use of codecs made by Microsoft corporation in their program dubbed Microsoft access has made it very easy for anyone to work with databases (Donato, 2017).
This is done by supplanting an element of the entangled work. It also offers many choices which make it the best option. The interface in it which is easy to use enables anyone to work on the databases effectively.
The Microsoft Corporation considerations of people who are not good at making databases made them work on layouts that the user can download and use rapidly and efficiently. One can tailor the database from the ground up, designing it to fit into the enterprise. Many records are stored in Microsoft access such that when you start a similar business, you do not need to enter the data afresh when you start another venture that requires similar information.
Microsoft access also works hand in hand with other Microsoft office tools which include Microsoft word, Microsoft publisher, Microsoft power point and Microsoft excel. A good example is storing a spreadsheet in the database, a large volume of letters and store in the database and also storing several power point presentations and various Microsoft publications (Donato, 2017).
Name of the Project
The Peeples Family DVD and Game Rental Company DBMS
Users and Administrators
The database will be used and administered by the co-owners who are Wayne and Marisol Peeples, the employees and the head volunteers. The administration has to be done by the honest and most skilled personnel to prevent loss of information since the sensitive information must be safeguarded (Connolly et. al., 2014). Administrators and users should have different access rights. To ensure that information is well guarded and secured, administrators should implement strong passwords.
How the Work is Being Done Now.
Currently, records are kept in the traditional paper filing system. The system has proved tedious especially when it comes to information retrieval. This hardship in the retrieval of information is what made us come up with a computer database. The bulky files due to increasing number of transactions made it difficult for us to work with the paper filing (Connolly et. al., 2014). Moreover, with too much paper, the safety of important information becomes subject to manipulation and vandalism.
Platform that will be used
Microsoft access will be used for the long-term and the short-term. The information about the customer which includes his/her name, address, telephone numbers and their date of birth and other information regarding the stock will be included. The platform was chosen due to its ease of handling and its efficiency regarding the performance (Connolly et. al., 2014).
Entities and Data Elements Involved
The entries to be entered in the database include; customer information, information on DVDs and game rentals and information on sales. On the customer side, the name, the address, the telephone number and the date of birth of the customer are recorded.
On the DVDs rentals database, the information on the date which the DVD was rented and the date it was returned is recorded, the genre of the DVD is also recorded (Horror, Documentary, Family, etc.), the price to be paid by the customers for the rental, the game ratings, the type of games and which console they were made for (android, Xbox, PlayStation, windows, etc.).
On the sales part of the database, the name of the product, the number of products sold, the date in which the product was sold, and the name of the customer who bought or rented the product is recorded (Connolly et. al., 2014).
Database tables:
The database will compose of 3 tables which include: customer details, DVD games rental and sales tables. The first table will contain columns which contain customer name, customer address, telephone number and the date of birth. The second table will contain the date on which the DVD was rented and the date it was returned, the genre of the DVD, the rental price, game ratings and the types of games.
On the third table, the database will comprise of the columns for the product name, a number of sold products, the date, and the customer’s name. The database will be interconnected based on the client’s details, products bought and the information about sales. The process will be done concurrently to avoid confusion.
However, because of the interconnection, they will function dependently. This means that an individual’s information will be recorded in the first field; the second field will include what is bought, then sales information in the third field.
Forms
Forms will be used for the input of data into the tables. Forms will be used by customers to input their personal details. However, on the official part of the forms, information about the type of DVD games and the sales information will be captured. There is a form for both the first and the second table that requires the customer and the company to fill them.
The date of birth should have a calendar attached for easy insertion of dates. The date that the DVDs were rented should also contain a calendar attached. The column with the genre of the DVD contained a drop-down list listing them. The rating part contains stars to indicate ratings.
Queries and Reports
The database will contain some queries. There will be the consumer information query and the products bought or rented query. The information on the sales will provide special receipts for the customers as proof of payment for the goods and services. The printout will also contain the customer’s name and the product information.
Run-through
The run-through will go as follows: The user will enter the data into the customer information form. Then the data will be correspondently entered into the DVD rental or the sales form. The user will open up the customer’s information then a printout of the business transaction will be done by syncing it with the sales information.
References:
Connolly, A., Thomas, D., Carolyn B.(2014). Database Systems: A Practical Approach to Design, Implementation, and Management, 6th Edition. Pearson Learning Solutions.
The organization of a successful mission demands proper planning and operation, and placing objectivity as key in the final triumph. The mission towards rescuing prisoners of war (POW) by the 6th Ranger Battalion will require movements and strategies that will reduce detection and provide faster accomplishment of the strategies. Therefore, having substantial estimates and technical strategies into the military action to take will result in successful mission.
Planning and Preparation
The POW camp is exactly 75 miles from Calasiao base camp where the rescued will be taken to. The mission will require a victory mentality that will utilize a surprise strategy to catch the enemy off guard and achieve a successful rescue (Goztepe & Kahraman, 2015). The problem faced by the 6th Ranger Battalion is the rescue of the POWs before they are executed or transported by the Japanese forces.
Any delay in time will aggravate the situation and make the mission more difficult. The mission will require rescuing the POWs and taking them to Guimba where they will link up with the 6th Army forward line that will provide extra security in their transportation to Calasiao base camp. The mission has to take place in less than two days to avoid more delays.
The Japanese might move or murder the POWs in less than three days time so the mission must take place in two days time. The set date to execution of the mission will be on the dawn of 30th January 1945, leaving less than 48 hours for planning. The planning process will require reconnaissance and surveillance of the prison, and linking up with local militia to provide adequate information.
The paramedics will need to prepare medical equipments, food, and water for the rescued and the wounded during the mission (Jaiswal, 2012). The planning process will require 12 hours and additional 4 hours for reconnaissance. The rescue mission should last for less than 2 hours.
In order to circumvent detection, the 6th Battalion will have to arrive at the POW camp at night and carry the rescue mission at dawn to catch the enemy by surprise. Since the prison is 29 miles from Guimba, the soldiers will require 15 hours to reach Pangatian by foot, which will require travelling at night, early mornings, and late evenings to avoid detection.
Therefore, in order to avoid fatigue and save time, the force shall leave Guimba on the night of 29th January 1945 at 2000hrs and take a half an hour journey by trucks to Cabanatuan where they will approach the prison at Pangatian by foot 3 miles from the prison. This will provide enough time to set up points for ambush, assembly of the rescued and coordination with the Filipino guerilla forces.
The Filipino guerillas will be important in provision of navigation routes and utilization of vantage points that will make infiltrating into the enemy camp easier; a beneficial factor in collaborating with local citizens (Jaiswal, 2012)). However, their next involvement will come after the rescue operation.
Executing the Mission
Since negotiation and diplomacy is not an option, carrying out military strategy in rescuing hostages requires staging a move that will result in higher success rate (Goztepe & Kahraman, 2015). In this mission, understanding of the POW compound in order to identify the first targets to annihilate, how to outdo the guards, reaching the cells where the POWs are and deterring any communication or escape of enemy soldiers to seek for reinforcement.
The objective of the mission apart from rescuing the POW will be to exert a surprising attack on the enemy that will result in the highest success rate and little casualties (Dougherty, 2013). This will depend on the surveillance received that informs the structure of the enemy territory and information to use in managing the mission. The force will need to site the target containing communication media and secure it before handling the enemy soldiers.
The Rangers will require vigilance and quick response to ensure the enemy does not kill the POWs as a form of defense, therefore capturing and securing the POW cells will be the first key strategy in the mission. The mission will also require use of snipers among the Rangers incase the enemy decides to use POW as human shields.
During the night, the task force should arrive at the prison before 0300 hours on 30th January 1945 and take vantage points around the camp. The US Army Air Corps helicopters can aid in expediting the mission by providing the first moment of surprise through destruction of any enemy vehicles and buildings used as resident by the guards at the top command.
This will allow the task force to infiltrate into POW cells and engage the enemy forces while leading the rescued away from the camps. The US Army Air Corps will be important in maintaining patrol and deterring any plans of the enemy to launch a counter attack to recapture the POWs. This will also allow the task force to gain ground faster as they repeal the enemy forces (Zsambok, 2014).
The Filipino guerillas will be important in helping to protect and secure routes used by enemy forces that may come to provide reinforcement. This will impede the enemy movement as the task force and rescued soldier match towards Cabanatuan for transportation to Guimba.
The task force and rescued soldiers will avoid using open roads that may increase their vulnerability to enemy forces but utilize the help of civilians in making their way by foot beyond Cabanatuan. The team will travel at 2 miles per hour for 4 hours and have 30 minutes of rest to allow the former POWs to take water and food. However, travelling to Guimba by foot will take the Rangers and rescued soldiers up to 15 hours, and may require more security and resources.
Another strategy will be the use of carts, which can be useful since it will increase the movement of the rescued soldiers. Carts move at 9 miles an hour, which will take just 3 hours to transport the rescued soldiers to Guimba from Cabanatuan, where they will link up with the 6th Army. Another alternative is picking up the rescued soldiers and Rangers at Cabanatuan by army trucks to Guimba, which is a faster alternative.
Collaborating with the Filipino civilians to provide this service will enable the task force acquire more time in repealing any remaining resistance from the enemy, assisted by the US Army Air Corps as a way of suppressing the enemy advancement and counterattack strategies.
Monitoring and Evaluation of the Decision
The movement of the Rangers from a drop point in Cabanatuan to Pangatian will require 1 hour. From there the Rangers will take positions outside the camp until 0430hrs on 30th January 1945, where the US Army Air Corps planes will provide the dawn ambush that will enable the Rangers to penetrate the camp and rescue the POW. Surprise attacks are effective in destabilizing the enemy and giving the advancing forces an upper hand (Dougherty, 2012).
The Mission should last for less than 2 hours. The former POWs and Rangers will have to advance to Cabanatuan and board army trucks by 1000hrs for their transportation to Guimba. Two US Army Air Corps helicopters will offer assistance to repeal enemy forces, exert destruction, and impede the enemy’s will to fight, while also providing humanitarian assistance. However, in case of overwhelming forces, more backup will have to come from Guimba.
This report will enable the Commander reach a decision on the possible choices to make in reaching a conclusion about the mission. It is imperative to consider time and speed since they are important in achieving the objectives of the mission.
Goztepe, K., & Kahraman, C. (2015, March). A new approach to military decision making process: suggestions from MCDM point of view. InInternational Conference on Military and Security Studies, İstanbul, Turkey(pp. 118-122).
Jaiswal, N. K. (2012). Military operations research: Quantitative decision making (Vol. 5). Springer Science & Business Media.
Zsambok, C. E., & Klein, G. (2014). Naturalistic decision making. Psychology Press.
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The research topic explains the position played by the public-private partnership in the emergency management in New Hampshire. It is identified that efficient mobilization and stakeholders collaboration is a must for the success of the public-private partnership, (Nohrstedt, 2016). On the other hand, there exists a challenge inside stakeholder’s collaboration and mobilization that is linked with the inter-organizational and intra-organizational forces which merge to public-private partnership, (Moshtari, & Gonçalves, 2016).
The researched literature about the emergency management explains that we recognize the active stakeholder’s relationship among various stakeholders during the disaster reaction plays a vital role in influencing disaster result success. If the public-private partnership is efficiently utilized, it will be a success in motivating the emergency management. It is because it promotes efficiency in performance on resources available in the individual department and links them to the state resources and its capabilities.
To meet the requirements of the research, the following research questions were asked.
What are the biggest challenges of collaboration in public-private partnerships in emergency management in New Hampshire?
What are the biggest challenges of mobilization in public-private partnerships in emergency management in New Hampshire?
Can the challenges listed above be solved using local knowledge?
What ideologies can be utilized in enhancing collaboration in public-private partnerships in emergency management?
What ideas can be used in improving collaboration in public-private partnerships in emergency management?
What are some of the innovative ideas that can be utilized in increasing efficiency in mobilization and cooperation?
Phenomenology research design was used because it explains, in particular, the identified obvious fact throughout how it is apparent to a specific research by the researcher, (Leew, & Dillman, 2012). It assists in collecting in-depth information by inductive and qualitative techniques such as discussion, observation, and interviews.
To comprehensively come up with incredible findings, a sample of ten people was used to help the research find the answers to the mentioned research question ns. They received the questionnaires through email and gave their feedback through email. Purposive sampling techniques were used to sample the data since the method is regarded judgmental and nonprobability.
Qualitative coding was used to analyze the data. The most often answers were recognized and helped to follow a pattern of the trending responses. Additional, the coded date was categorized into the table. It was meant to help in arranging the results thus playing a crucial role in discussion and analysis, (Klenke, 2016).
Leew, E. D., Hox, J & Dillman, D. (2012). International Handbook of Survey Methodology European Association of Methodology Series. London: Routledge.
Moshtari, M. & Gonçalves, P. (2016). Factors Influencing Interorganizational Collaboration within a Disaster Relief Context. VOLUNTAS: International Journal of Voluntary and Nonprofit Organizations, 1-22.
Nohrstedt, D. (2016). Explaining Mobilization and Performance of Collaborations in Routine Emergency Management. Administration & Society, 48 (2), 135-162.
Yin, R. K. (2013). Case Study Research: Design and Methods. New York: SAGE Publications
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IMPLICATIONS OF STRATEGIC PLANNING OF FINANCIAL INSTITUTIONS ON STRATEGIC PERFORMANCE AT FAMILY BANK (KENYA)
Abstract
Financial institutions presently implement strategic planning with the aim that this will lead to better performance. Previous research focused on the strategic planning and performance direct relationship and not the guidelines followed that make up the process of strategic planning. The manner and extent to which each of the steps is practised could have implications on the expected strategic planning results. The study’s purpose is to establish the effects of strategic implementation on a bank’s financial performance.
The effectiveness of strategic planning is measured by the extent to which it affects organisational performance and its survival rate. The study has a primary aim of looking into the relationship between planning and fulfilment in a financial organisation and determines the extent to which strategic planning affects performance in an enterprise, of which the Family Bank of Kenya, will be used as case study. Based on the above objective, relevant kinds of literature were thoroughly reviewed, and three research questions were formulated for this study.
The study is aimed at proving that Strategic planning enhances better financial institution performance, which at the end last has an effect on its survival and that strategic planning intensity is determined by managerial, environmental and organisational factors. This research is to help the management and administration of the Family Bank of Kenya as a guide to implementing an effective strategic planning for improved corporate performance.
The findings of this research work will also help the public who would want to know about some advantages and disadvantages of strategic planning and its effect on organisational performance. The research tools included; interview, reading the corporation’s journals, reading research books and e-books and also use of questionnaires.
CHAPTER ONE: BACKGROUND OF THE STUDY
Introduction
Although strategic planning began with military war decades ago, it has become a central element to many organisations today (Efendioglu and Karabulut, 2010). Strategic planning is the organisational process of defining its strategy and taking up decisions on the allocation of resources to implement policies (Thompson and Strickland, 2004). Robert and Duncan (2007) asserted that strategic planning offers directions to organization’s departments according to their identified strategies to achieve success.
There has been a rise in scholars’ opinions in the past concerning strategic planning and how it is effective in competition and firm performance. (Schmenner, 1995) asserted that financial institutions which are in the service industry are susceptible to the threat of entrants to the market and therefore need strategic thinking for designing and implementing projects that will make the firms stand out in the market.
Thompson and Strickland (2003), regard strategic management as a critical process that leads to formulated strategies being implemented to ensure the achievement of organisational objectives. Efendioglu and Karabulut (2010) said that suggestions were made concerning the use of formal plans to control market forces and competition for a firm’s effectiveness and performance. Educational institutions, business administrators and researchers have paid attention to strategic planning due to its effect on competition and organisations performance (Efendioglu and Karabulut, 2010).
Strategic planning has granted opportunities to the Family Bank of Kenya in the creation of projects that are aligned with plans and in the daily activities of the firm. The strategies therefore used by the Family Bank of Kenya acts as a guide in this study as the researcher aims to identify whether strategic planning has implications on the strategic performance of firms.
General objective: The researcher intends to find out the implications of strategic planning of financial institutions on strategic performance.
1.1 Background of the organization
The family Bank is also known as the family bank limited and is a financial institution started in 1984 by the name Family Finance Building Society Limited. Later in the year 2007, its name changed to Family Bank Limited. The bank has its headquarters in Nairobi and a total of 93 branches. The key leaders in the Family Bank are the Chairman of the BOD, the managing director and the chief executive officer. The Bank states its aim as meeting the needs of people ignored by other banks. The financial institution has concentrated on small income earners such as fishermen, farmers and the Jua kali sector.
The mission of the bank is to liberate people from poverty and financial bondage. Family Bank offers loans, savings, checking, and investment and debit cards as its products to its consumers. The bank also has a purpose to helping people obtain and sustain wealth through the financial services it offers.
Strategic importance is a necessary tool for the Family Bank of Kenya as it has a strategic thrust of becoming a premier lender. The key areas of strategic planning by the bank include infrastructure, the organisational structure, offering innovative products and services and quality customer service.
1.2 Statement of the problem
Though the importance of strategic planning on the performance of the Family Bank of Kenya is to satisfy the needs of its customers, nevertheless several obstacles are militating against the effective execution of such strategic planning. These issues include competition from other financial institution operators. There also is inadequate and ineffective information systems and overemphasis on short-term results to the neglect of long-term goals.
These problems mostly associated with the Family Bank of Kenya and therefore required solutions as revealed from the study done so as to encourage the performances of the Bank economically through the development and implementation of strategic planning.
1.3 Objectives of the Study
• To establish the extent to which leadership with strategic implementation has influenced organisational performance.
• To determine the degree to which corporate structures on strategic implementation has affected organisational performance.
• To establish the extent to which resource on strategic implementation has influenced organisational performance
1.4 Research Questions
1. How does leadership on strategic implementation influence organisational performance in Family Bank?
2. What is the extent to which corporate structures on strategic implementation has an impact on the organisational performance of Family Bank?
3. What is the extent to which resource on strategic implementation impact corporate performance?
1.5 Significance of the Study
The Family Bank of Kenya has maintained a first rating with the capacity to meet obligations as and when they fall due since 1984. The expectation is that the study will yield information that may be useful for future proper planning and decision making in the Family Bank of Kenya to improve competence and customer satisfaction. The findings and recommendations of the study may also be useful to the management and directors of other financial institutions.
This study will assist them not to rely on haphazard personal experience or subjective expert judgment or tradition or fashion in their management tasks but base their methods, decision and actions on concrete knowledge of issues of their strategy implementation supported by the findings. It is my hope that the study will form a basis for further research on how to enhance the competence of not only the Family Bank of Kenya but other organisations. Further research may lead to the generation of new ideas for better and more efficient management of banks and other organisations in Kenya and globally.
1.6 Scope of the Study
As an enterprise with a new status, the Family Bank of Kenya presents a tremendous responsibility to provide leadership in innovation, the products and services offered, creative thinking, value production and the implementation of globally accepted best practices through the adoption of strategic plans.
Hence, this study will focus on strategic plan employed by the Family Bank of Kenya and the criteria tools used in evaluating the performance of the Bank with particular reference to other organisations involved in the competition.
CHAPTER TWO: LITERATURE REVIEW.
2.1 The Concept of Strategy
Scholars have put forth different explanations of how they define strategy. The strategy is a crucial aspect of an organisation as it used as a tool to offer directions in the firm. Aremu (2010) defined strategy as a formula for organisational competition and a guide to what policies are to use for success. Mintzberg (1994) referred to strategic planning as a systematic criterion of implementation, formulation and control of strategies to meet organisations objectives.
Arasa and Obonyo (2012) states that most corporations are taking strategic planning as a tool used to show the level of a firm’s performance. Studies on strategic planning have been done in the past, but they did not consider steps in the strategic planning procedure. Ansoff (1970) explains strategic planning as a process of searching the relationship between making plans and performance in a firm.
Drucker (1954) implied that strategic planning involved managing programs in a process that is meant to make best strategic decisions. Strategic planning is an environment affected by consumers, changes in technology, competitor and social-political factors (Drucker 1954). Steiner (1979) refers to strategic planning as a formal systematic effort used in establishing enterprise policies, objectives and purposes.
Planning entails the creation of a detailed course of actions to enable implementation of strategies to achieve a firm’s goals and objectives. Wendy (1997) breaks strategic planning into three components that lead to achievements of the mission and visions of an organisation. The three elements are setting of the enterprise directions on its goals, defining the company’s strategic intentions and putting efforts in understanding the business environment.
2.2 Strategic planning and performance
Ansoff (1971) proved that strategic planning could result in excellent financial performance which is measured by various accounting measures such as the net income and internal rate of return. Porter (1987) outline cost strategies, differentiation strategies, focus and generic strategies that would enhance performance in businesses. Mintzberg 1994 argues that good outcomes do not originate only from planning but the effort put by the commitment from people.
Hopkins (1997) also claim that high performance can be discovered through planning but only with managers input or participation. Miller and Cardinal (1994) are said to put strategic planning to test and approved that it leads to positive performance. The strategic planning process is defined by many as entailing three major steps. (Armstrong 1982) Policy planning involves formulation, implementation and control.
Dimma (1985) claimed that performance is greater when managers place more emphasis to the stages of strategic planning. Hopkins (1997) stated that the financial performance of a firm cannot be directly linked to strategic planning. However, it arises from the different manager skills contained in the enterprise. The skills by managers show the kind of experience and expertise that they have in policy planning.
Managers are not so much into the process of strategic planning as they do not understand the significant impact it has on output. (Steiner 1979). Bird (1991) stated that the environmental change and intensity has led to the need for strategic planning in banks.
2.3 Theoretical framework
2.3.1 Thompson and Strickland Model
According to Thompson and Strickland Model (2003) implementation processes and activities or consumption sets up processes that can be used to gear an organization towards a set objective.
Table 2.1: Steps for implementing strategies
Step
Special tasks
Creating an organization which can implement the strategies.
Creating a structure which supports implementation of strategies. Reinforcing skills and capabilities on which strategies are planned. Positioning most appropriate people for occupations in organizations.
Providing financial resources (budgeting) which can support strategies.
Being sure that financial resources are allocating to units in appropriate to their contribution of strategic role. Being sure that consuming resources (inputs) will cause desired outputs.
Establishing inter support units.
Developing and managing policies and procedures that facilitate implementation of strategies. Creating operational and administrational systems which can empower strategies.
Innovating motivation and remunerations in close relationship with objectives and strategies.
Motivating people and units for implementation of strategies. Designing remunerations can cause optimal level of performance. Encouraging tendencies for achievement of aims.
Forming organization’s culture to adjust strategies.
Creating common values. Defining ethical criteria Creating a workplace which supports strategies. Creating highly achievement motives in culture of organization.
Establishing inter support units.
Developing and managing policies and procedures that facilitate implementation of strategies. Creating operational and administrational systems which can empower strategies.
Performing leadership strategies.
Leading process of value formation, culture development and empowering implementation. Developing and saving innovations, responsibility to environment and using opportunities. Considering political aspects of strategies, confronting to power conflicts, and creating consensus. Posing ethical criteria and behaviour. Innovating modifications for improving implementation of strategies.
Source: Thompson and Strickland (2003)
According to this model, there are several steps that an organisation should undertake to have a successful strategic plan implementation. Each step has a unique task taken. The factors in this model are relevant to this study because they show what an organisation should undertake to have successful implementation towards business performance. It has step by step plans with a particular task that companies can follow to influence their capabilities.
The following dimension of this model was selected and considered relevant to this study: Creating an organisation which can implement strategies. This dimension is appropriate this study while looking at organisation structures. It has particular tasks that should be undertaken to influence a company’s performance.
Providing inter-support unit is considered relevant to the study because it shows us that an enterprise can go about setting the appropriate policies, procedures and rules that can influence proper administration and operation functioning that can lead to good organisation performance. Performing leadership dimension is considered because it shows group leadership should go about in its endeavours to influence performance in a firm.
It shows how leadership leads to values formation, culture development, conflict resolution, and motivation in an organisation providing financial resources (budgeting). This dimension is considered because it shows financial allocation and budgeting is relevant to the contribution of strategic goals in the business.
2.4 Empirical review
Strategic planning researchers and academicians have contributed to the literature by examining the conditions under which specific practices, resources or structural arrangements contribute to sustainable competitive advantage. However, strategic management or strategy is a relatively young field facing all the problems and difficulties associated with a growing academic discipline.
Historically, the field of policy was viewed as ‘integrative’. Most scholars actively involved in the study of strategy hail from a host of disciplines – anthropology, sociology, population ecology, finance, marketing, political science, and theology to name only a limited number.
A study by Kaplan and Norton (2008), suggests that the management of operations and strategies involves five steps. The first phase is forming of the strategy with alignment to the company’s policies. The second step is translating the set strategies to objectives.
Thirdly, an operational process is created to facilitate the achievement of initiatives. The fourth step entails the implementation of the plans as well as monitoring performance. The last step is putting the strategy to the test by an analysis of profitability and cost in comparison to the outcome or performance.
A lot of scholars are now researching on the central role of firm processes in the improvement of financial performance. According to Spanyi (2004), the book by Kaplan and Norton on “Strategy Maps” puts business processes at the centre of their approach of measuring a firm’s progress in implementing the plan (Spanyi, 2004). They wanted to put emphasis on that in a procedure of changing to a processing company, and they thus kept a focus on thorough analysis in the implementation of processes which would, in turn, affect the organisational success.
2.5 Conceptual Framework
Strategic management practices are useful only when they make a positive difference in output from the traditional management practices. In this study performance is the dependent variable and independent variable include leadership, policies and procedures, structures and resource allocation
Figure 2.1: Conceptual Framework Showing Relationship between Strategic plan Implementation and Performance Source.
CHAPTER THREE: RESEARCH METHODOLOGY
3.1 Introduction
This section gives a detailed procedure of the methods to use in this study. It focused on a clear and concise description of the methods and manner through which this research work is to be conducted. Data has to be gathered for proper analysis of the effect of strategic planning on organisational performance using the Family Bank of Kenya as my case study. Therefore, an attempt is made in this chapter to show the results of this study by considering areas such as the design of the survey, research instruments, the population of the study, sample and sampling techniques, the method of data analysis and reliability of the instrument.
3.2 Research Design
According to Heron (1998), a research design refers to a method for managing and utilising information to get the desired precision. This study adopted a cross-sectional survey research approach. A cross-sectional approach is an approach where information on a population is gathered at a single point in time which is the case for this study. The study design uses the family bank of Kenya as the case study. The method chosen for the study is appropriate for obtaining in-depth knowledge of the policies utilised by the Family Bank for competitive advantage. Kothari (1990) agrees to the fact that a case study gives insight into issues that may be less known or not known by many.
3.3 Target Population
The target population for the study will be all departments within the headquarters of the Family Bank situated in Nairobi. The departments included in the survey will consist of the Operations/ Customer Service, Treasury, Risk Management, Inspection, Information Technology and the Human resource Department. Most importantly, financial managers and accountants who are involved in financial planning functions of the bank will be interviewed.
Five managers from the departments and 20 employees from the various departments that get affected by the financial planning of the bank will be interviewed. Before the interview, the researcher will seek permission from the respondents by explaining the nature and reason for undertaking the research so that none of the interviewers will be undue pressure to participate.
3.4 Sampling procedure
The sampling method used is stratified random sampling to select the respondents. This design allows the population to have an equal chance of being selected in the different strata. The strata, in this case, are the various categories within the company. The sample was chosen to ensure that the sampling size had a symbolic representation of the population.
The formula to find the sample size is:
n = N /1 + (N * e2)
Where;
N= population size
e= Tolerance, take 0.05 at 95% confidence level
n= sample size.
The distribution of the sample across the categories will be done using the formula:-
Number of individuals in the category x the sample size
The researcher intends to interview 5 managers from the company’s departments and 20 employees distributed across the departments.
3.5 Data Collection
The study uses both secondary and primary data. Secondary data is obtained from existing literature such the financial statements and records found at the Family Bank of Kenya. Primary data is gathered by the use of interviews. The study will however rely mainly on primary data collected using a questionnaire. The respondent consists of senior management, middle management and operational staff of Family Bank.
Structured questionnaires, where the study participants are asked to respond to same questions, will be used to aid the study (Mugenda and Mugenda, 2003). Five concept questionnaires will be used with multiple variables under each concept. The concepts will consist of Strategic Leadership, Organisation Structure, Resource Allocation and Performance. Books and journals from Family Bank will act as reference in this study.
The questionnaires will be semi-structured to allow attainment of diverse opinions and views regarding the research question. Interviewees will be given the ability to demonstrate their understanding of the topic by explaining their opinions such that questions may lead to other questions or dimensions for answering them. By getting diverse opinions, it’s possible to critically evaluate the research question and provide a detailed and conclusive analysis.
3.6 Validity of the Research Instrument
According to Mugenda and Mugenda (2003), reliability refers to the degree to which the research instrument can yield consistent results and data from repeated trials. Validity, on the other hand, is the extent to which results from the analysis of the data represent the phenomenon under study. To maximise the reliability of the instrument the researcher with the help of experts in measurements and evaluation will ensure that the questions in the questionnaire are not ambiguously presented to the respondents. In other words, to ascertain the reliability of the instrument, questionnaires have been used by several researchers who have come out with reliable solution to the problems
3.7 Data Analysis and Presentation of Findings
The study will apply descriptive statistics which describes and summarises data so that patterns are made visible. Inferential statistics are used to analyse the relationship between the factor and the service quality and multiple regressions to evaluate the contribution of all the factors to the dependent variable. Multiple regression methods use the correlations between a dependent variable and independent variables as a criterion to determine which variables would be included in the regression model.
3.8 Ethical issues
The researcher will upfront inform the respondents that taking part in the survey is voluntary and that they are also not forced to disclose information that they are unwilling to. The researcher expects to get resistance or difficulty with some of the respondents. Trust will be obtained from respondents by explaining to them the purpose of the research and the benefits it has on the firm. The interviewees will be given an opportunity to ask questions which will be answered by the interviewer.
3.9 Chapter summary
This section explores the research design and methods to be used by the researcher in the study. The researcher will use company records as secondary data together with semi-structured interviews and questionnaires, which of form part of the primary data, to collect data. The respondents will consist of the managers and employees distributed within the different departments of the bank.
For ethical purposes, the respondents will be asked to sign non-disclosure forms to ascertain that researcher will ensure confidentiality. Moreover, the researcher will follow the required guidelines as stipulated in the company’s policy to select respondents, like through the gatekeepers including the management, so that the research will be openly conducted. Respondents will deliberately decide to participate in the research.
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An Analysis of Land Rover’s marketing activities using ethical framework
Land rover is a car company that is owned by Jaguar Land rover, which is a multinational car manufacturer. The company specializes in four wheel drive, and is currently one of the largest car manufacture in the world, operating in more than 100 countries.uit is one of several auto manufactures that are owned by Tata industry. In 2013, Jaguar land rover was crowned the Responsible Business of the Year Award due to its investment in new technologies that reduce emissions.
This helped the company gain recognition worldwide; therefore increasing is sales and profit turn out. This is one of the key distinguishing factors of the company from other manufacturers. Another factor that makes the company stand out is its undertaking in corporate social responsibility, where it has empowered many young people globally through helping them learn engineering and other technical courses.
Despite its many achievements, the company faces many ethical issues especially regarding its usage of leather to manufacture interiors. Leather is a major cause of environment pollution due to the harmful chemicals used driving tanning.
Ethical issues at stake
Ethical standards are critical to the reputation and brand image of any firm that seeks to retain its market base. Contemporary ethical issues revolve around marketing behavior, such as false advertising, stereotyping, subliminal messages, post purchase dissonance, exploitation of workers and environmental pollution. However, practicing ethical standards will not only guide an organization through its daily operations but increase production and corporate reputation (Kelchne, 2015). Ethical issues relate to various problems that will require an organization to choose between many available alternatives. One of the main ethical issues facing Land River is its use of leather for interior designs.
An ethical challenge facing Land rover is that it advocates for protection of the environment, yet its usage of leather does the contrary. The company terms the products used in the manufacturing processes as ecofriendly, but its usage of leather results in harmful chemicals that are bad for the environment. Leather has been regarded by the US Environmental Protection Agency as the greatest form of pollution to waterways and the environment in general. Leather is a hide of dead animals, and it therefore decomposes naturally.
To prevent the decomposition, leather companies use very harmful chemicals which when released to the environment, can pose serious health problems as they are great pollutants. Due to this, the company fails to maintain ethical standards that advocate against usage of harmful chemicals and pollution of the environment.
Harmful chemicals used by Land Rover
Due to the use of leather in interior designs, land rover uses harmful chemicals to naturally decompose the leather, which are great environmental pollutants. However, leather is made from animals hide and is vulnerable to decomposition. To prevent this decomposition, the materials are treated using harmful chemicals like trivalent chromium suphide and other pollutants ranging from sodium sulfhydration and cyanide.
The leather is also subjected to procedures that involve large amounts of pollutants like hair, salt, lime sludge, and protein. The use of leather not only puts the lives of Land Rover consumers at risk but also endangers the surrounding community by polluting the air, water supplies, and the land. As a result, the company fails to achieve the good rating in pollution and toxic category and hence experiences a diminishing public image and lost support from animal rights advocates.
There has been a wide concern over the significant range of chemicals in the interior of vehicles by Land rover and sometimes the chemicals exceed the normal level. The drivers who drive these vehicles are exposed to these harmful chemicals mostly through inhalation. This could cause a range of health problems ranging from cancer, breathing problems and allergies. These harmful chemicals by the leather manufactures include:
Trivalent chromium sulphate
During leather tanning, the manufactures use trivalent chromium sulphate, which contains high levels of chromium. Chromium has been acknowledged as one of the most toxic chemicals used by leather manufactures. T5he interiors of land rover are manufactured using this toxic chemical, which poses serious threats to the wellbeing of all those involved in the company affairs. Usage of chromium has been prohibited in most countries due to its toxicity and the health hazard it causes. The fact that Land Rover uses leather to make its interior decoration implies that the company does not practice ethical guidelines.
Arsenic
Arsenic is a toxic chemical used during leather tanning. The chemical has been associated with lung cancer for workers who are daily exposed to it. It is a harmful; chemical which when in contact with the skin, causes burning sensations and could have long term effects.
Animal rights
Another ethical issue facing land rover is failure to advocate for animal rights, especially since it uses leather which is a slaughter house by product. Animal Rights Organizations are against companies who manufacture their products using leather as doing so is killing innocent animals. The company does not engage in animal protection and this reflects negatively on it.
Leather comes from animals such as goat, buffalo, ostrich, lamb, and deer, among others. Other places also use kangaroos to manufacture bicycle tyres. These animals are endangered as they are subject to killing and slaughter by leather organizations. Land rover is subject to this ethical challenge since killing of innocent animals is a not ethical. The process of tanning entails using chemicals stabilizes the animal skins so they will not decompose.
Ethical principles
Ethical principles guide organizations to act in a professional manner so as to balance ethical considerations with the relevant professional values and to deal with consumers ethically. Businesses that behave ethically have been seen to have higher consumer loyalty than those who do not.
These businesses are concerned about the environmental issues surrounding them, and deal with day to day basis in the required ethical and professional standards. There are four major principles of ethics guiding organizations and these include the principle of autonomy, the beneficence principle, non-maleficience and the principle of justice.
The first principle is the principle of autonomy which states that organizations have a duty to respect the autonomy of other persons no matter the circumstances. It gives people a duty of not interfering with the decision of others but instead to empower and support those that they are responsible for. There should be honesty in their dealings and keeping promises made. Land Rover Motors, for instance, has an obligation to its consumers and all other stakeholders to provide quality designs from products that are safe and that conform to the laws of the environment.
The principle of justice states that everyone has an obligation to provide other people with whatever we owe them, or whatever they deserve accordingly. All people should be treated fairly and equally and no unfair burdens should be imposed on others. Organization wise, all organizations should treat all their stakeholders fairly by providing them with quality products, as they truly deserve. Doing so will foster good relationships with all those involved in the operations of the organization.
Beneficience principle states that we have a duty to bring about good in all our doings. People must take all necessary steps to prevent harm, by any means possible. The automotive industry has an obligation to use non toxic substances in their products, and provide commodities that are totally safe, to prevent any harm to the customers and workers handling them, and pollution of the environment by undertaking proper waste disposal . By using harmful substances in leather tanning, Land Rover goes against this ethical principle.
Principle of nonmaleficience states that people have an obligation to not harm others. If harm can be avoided, we are obligated to prevent or minimize the harm. We should not increase the risk of harm to others and should employ all necessary measures to prevent harm. For instance, organizations that pollute the environment go contrary to this principle. The company should therefore engage in other ecofriendly activities and do away with leather.
Ethical theories
Egoism theory
Egoism model states that an act is morally right if the person making the decision decides to pursue short goals and long term interests (Crane, 2007). Ethical theory, according to Ardakanini and Sharraf (2014) is one the most significant theories in the study of normative ethics. The theory gives people a right to increase their benefits in any situation.
However, the provisions made by this theory seem to approve Jaguar Land Rover’s decision to replace the plastic interior material with a leather ones despite the negative effects it may have on the environment. The moral significance of any action is described based on the same goal and only applies to a man who can decide between valuable and invaluable goals.
The life of living things is the primary criterion for determining their moral value; living things must make choices which make possibility the achievement of the concept of value. Ethical egoism is founded on the idea that life is the criterion of value for all living things; therefore any action taken by man must be directed at preserving life (Hartenian and Lilly, 2009).
Any action that undermines living things and leads to one’s destruction is unacceptable. This approach considers plants to be the simplest among all living things; they were created to keep themselves alive automatically and involuntary. This leads to the conclusion that any marketing activity that results to endangering of life, such as using leather interior with harmful chemicals, is unethical according to egoistic approach. Also, materials employed by Jaguar Land Rover have serious implications to living creatures in the air, land, and water.
Utilitarianism
According to the utilitarian theory of ethics, a state of affairs is the only thing that exhibits value. Utilitarian deny the claim that some actions have an inherent moral dimension, as deontologists believe. If an act has a wrong or right, then it can only be derivative, given by the right or bad states of affairs it produces. The core idea of utilitarian, according to Hinman (2014), is that an act should always be undertaken in a way that it will provide the greatest amount of good in the world.
Morality, which is about producing good consequences, exists to make sure the world is a better place. People should strive to do whatever will bring the most benefit. Utilitarianism is one of the consequentialism perspectives which state that people should seek the greatest happiness for the greatest number. The determinant of the value of an action is the amount of joy it brings, the number of people it gives happiness and the time that happiness lasts. This theory suggests that people find the meaning of ethics by considering the consequences of actions they take. Something is right if it brings goodness to the greatest number of individuals (Mil, 1993).
Ethical implications
Land Rover is a big multinational company that is composed of a variety of both internal and external employees, and these are the most affected by the ethical issues facing the company. The company has interactive relationship with all its stakeholders and the ethical challenges could affect these stakeholders negatively. These stakeholders include customers, suppliers, the government, employees, and the general public among others. Stakeholders are all the people directly or indirectly affected by the operations of n organizations, and these stand to be affected by the ethical issues facing the company.
The above woes facing Jaguar Land Rover have critical implications for not only then stakeholders, but for the company’s marketing activities, and can greatly influence how audiences respond to marketing messages. While the use of leather for the interior was justified as a reason to avoid giving consumers plastics, the alternative chosen is not only harmful but also pollutes the environment. This comes to the issue of marketing ethics, what is morally right and wrong, and what is ethical marketing and what is not (Smith and Murphy, 2015). It is important in marketing decorum, but also one of the most controversial concepts in marketing
Suppliers
The major ethical issue facing the company is its usage of leather, and the suppliers of these are perhaps the most affected by these ethical challenges. The chemicals used in turning skin into leather are very harmful and a combination of these results in the pollution of the environment. With these issues, the suppliers stand to lose. This is because these ethical issues could make the company result in recalling designs manufactured from leather and use other materials instead.
If this happens, the suppliers will count huge losses, as they will have lost potential customers. The supply of harmful chemicals poses a big ethical issue for the suppliers of these chemicals. With the company accused of using chemicals that pollute the environment, suppliers are faced with a problem on whether their products are really safe.
Customers
The customers are the most affected by the activities of the business. The usage of leather by the company to make interior designs implies that harmful chemicals are used in preventing natural decomposition. This reflects negatively to the consumers because nobody wants to purchase from a company that pollutes the environment.
Customers who advocate fro human rights will not purchase from the company due to the usage of leather, as this encourages the killing of animals. Pollution of the environment by the harmful chemicals used by Land rover will result in the damage of customer’s health, and this will lower the reputation of the company.
Employees
The employees who work in leather tanneries are at a risk of being in contact with the harmful chemicals, which could pose a challenge to their health and general well-being. These workers come in direct contact with the harmful chemicals, which could harm their health in the long run. In fact, many employees die of cancer that is possibly caused from exposure to these toxic chemicals. One major ingredient used in preventing decomposition of leather is Arsenic, which has been associated with lung cancer.
Course of action
Today’s business environment is at a constant state of change, and the consumers have the power to affect the future success of any given company. With these changes, organizations should aim at pleasing the consumers since they have the final say on whether to purchase the products offered by the company. The ethical issues facing Land Rover may reelect negatively to the consumers, who are more attracted to organizations that behave ethically.
Land Rover should thereafter implement measures and strategies that will reduce pollution of the environment, and that advocate for animal’s’ rights. More than ever before, consumers are concerned about ethics and will go fro the companies who care for the environment and the rights of animals. Environmental organizations should intervene in the company.
These should advise against or completely restrict the use of certain ingredients to manufacture their products. The competitors of Lush have come up with amazing products without the use of toxic ingredients, and Lush should also follow suit, so as to remain relevant in the highly competitive industry.
The company should go for more favorable means of tanning, such as vegetable tanned leather. This uses elements such as bark from trees and other natural plants, which pose less environmental risks. This will reduce the effects of harmful chemicals while at the same time protecting the environment. Land Rover should adhere to the rules and regulations that address the usage of harmful chemicals by the leather industries.
The company should also use other industry proven techniques such as recycling. Recycling reduces the levels of harmful chemicals in waste water by more than 21 percent. It involves reclaiming the harmful chemicals, such as chromium and this will capture the original chromium level by 25 percent. Advanced technologies should be used to reduce toxic chemical levels so as to reduce pollution and illnesses resulting from their use.
There are other designs for making interiors that do not involve the use of leather. New technologies and innovations have been implemented by other companies to manufacture parts, which are friendly to the environment. The company should invest in the latest technologies for manufacturing that will see it establish new designs that have no leather in them. Doing so will reduce the usage of toxic chemicals used during leather tanning, and will protect the health of all employees.
Conclusion
Over the past twenty years, changes in technology and introduction of new innovations have led to change in preferences, and today, consumers are keener to purchase produces from ethically responsible company. Land Rover as a multinational company should embrace new methods of production, which are ethical and environmental friendly as this will woo consumers to their side.
It is clear that organizations that are keen on environmental conservation of animal rights have more customers than those who do not. The company should therefore implement new strategies to ensure that they are more ethical in future, and this will lead to an increase in sales.
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E-COMMERCE STRATEGIES IN THE UK FASHION INDUSTRY. A CASE STUDY OF BURBERRY
Burberry is one of the most popular online retail brands and this success can be attributed to utilization of e-commerce strategies by establishing online marketing websites. E-commerce is attaining relevance in the fashion industry with progress being made online by the large fashion retailers. With the evolution of technology and introduction of new innovations, companies must strive to adapt to the new changes so as to survive in the stiff competition.
However, despite these changes, many businesses have not fully utilized e-commerce as the utilization is still underdeveloped. Organizations that have utilized e-commerce have proven to be successful and such is Burberry. Burberry is the perfect example of an organization that has fully utilized digital marketing strategy through e-commerce.
The brand utilizes the social platforms such as twitter and Facebook to reach out to all its customers by optimizing the content to suit each platform. For instance, it uses Facebook to showcase live streams of their products, a method that has seen it gain very many followers online.
There are various e-commerce strategies used by ten companies to advertise its brand and reach out to the customers, all of which have increased the profitability of the organization. Burberry is the one brand that has exemplified an outstanding digital marketing performance by using the various social media channels to attract young customers.
The result demonstrated further the influence e-commerce strategies and attitudes held by people have on the modernization of a company. The best strategies for e-commerce which proved to have a positive impact on modernization of a company include maintaining effective communication with employees of the company, always informing them about matters that pertain to the organization, paying attention to workers and slotting them in when making decisions, encouraging creativity along with innovation, creating an environment which is positive and maintaining motivation for employees, which was the case with Burberry.;;:;
Kinky Feet is facing a lot of challenges including random orders which occur to change in order seasons especially during winter and summer because during the start of either season people will be looking into changing their wardrobe hence the increase in orders. However, when they settle down the company will be out of enough orders to keep their employees occupied in all seasons (Kinky Boots Case Study, 2017, p.1-2).
Inadequate Cash flow
Kinky Feet also faces little cash flow because the money is always with the retail customers. The problems arise as a result of the company allowing retailers to pay the company within a period of 60 days. This, therefore, hurts the company regarding cash flow because it might be able to pay most of its obligation on time leading to the company being in debts.
The increase in inventory especially buying of material to a considerable amount leads to most company money lying just in warehouse especially when orders are in low seasons because the production manager has been given enough powers to request for more material and is delivered without much scrutiny by the owner (Kinky Boots Case Study, 2017, p.1-3).
Lack of Extra Funds
The company also faces the challenge of enough capital to acquire new manufacturing equipment that will assist in increasing styles and color. This is because the banks have refused to offer more loans to Kinky Company and the fact that the cash flow is slow. This, therefore, calls for new ideas that will give the company extra money to buy the equipment.
The purchase of information system is also imminent, particularly when the business is trying to get its inventory, cash flows, and orders in place. The whole process, therefore, means the company may have to partner with another financial institution or get a willing partner who will bring in money to allow the purchase of required equipment (Kinky Boots Case Study, 2017, p.2-4).
Lack of efficient manager
The kinky feet company also has a shortage on the person equipped to run the business successfully. This is because Selvi who currently runs operations in the unit is overwhelmed and lack strong business skills to ensure success. Lack of experienced manager is evident especially since the production manager has its way of convincing that he needs more material, but according to the finance director, most of the purchased material lay aimlessly in the warehouse because whenever the pre-ordered material is not what is trending in the market its left for some time without being used.
Selvi is not able to see the need to buy the information system or doesn’t feel comfortable partnering with someone else. This is bad for business because strong skills need to be applied to ensure sustainability; this, therefore, means that the current manager may need to take a back seat and let someone else run the operation because employees and retailers seem to be taking advantage of her softness (Kinky Boots Case Study, 2017, p.4).
Future Dilemmas
The company is also faced with making crucial decisions in different areas on constant pestering insinuation. For instance, it needs to conduct a research if little delays are going to harm the business or not. It also needs to agree with the retailer on the exact time they are to pay for delivered goods to prevent the company from having to be short of cash flow. These dilemmas need to be sorted out immediately to come up with the way forward that the organization will take (Kinky Boots Case Study, 2017, p.4-5).
Designate whether the problems you have identified in 1 are hard or soft system problems. You need to explain why you have made your decision.
The identified problems above can be segmented to either hard or soft. For example, the acquisition of new IS equipment’s, and production equipment is a soft system issue. This is because the company can still run successfully with its older material’s that is already in place because even if the company does not commit to purchasing a new equipment the old one will still ensure that orders are delivered on time and even analyzing the firm activities is still possible without any new purchases (Kinky Boots Case Study, 2017, p. 5).
Inadequate cash flow graduates as a hard system problem because without drastic changes the company bill will always run late and may affect that offering support skill to ensure the business runs smoothly.
The fact that the company is always in debts because of cash delays will cost the company integrity even from the financial institution because the company may be viewed not to be able to pay loans off they happen to borrow because of inconsistencies (Kinky Boots Case Study, 2017, p. 5-6).
Lack of efficient management qualifies as a hard system problem because, in the long run, bad decisions may lead to the closure of the company due to poor management. The inability to make quick decisions that will ensure the existence of business leads to in operational business unless the management is changed to include one give strong rules to be followed (Kinky Boots Case Study, 2017, p.6-7).
Lack of extra funds to ensure company investments and is a hard system problem because the inability of the business to invest to ensure future sustainability will mean that the business will not be able to guarantee its market share because of the competition (Kinky Boots Case Study, 2017, p.4-6).
Identify key stakeholders and problem owners.
The primary stakeholders at kinky feet include both the employees and Selvi who is the owner of the business because they all benefit from the firm regarding salaries and general revenue from the organization. Problems owners refer to those directly affected by decisions that are going to be made. In the case of kinky feet company, problem owners include Selvi who is the current manager in the organization.
She is affected because according to Kevin she needs to be relieved from running the business and instead Kevin should run it because Kevin believes that Selvi will do well in designing department especially since she is the one who comes up with new ideas.
The production manager-Fred is also affected because Kevin beliefs that were investing in equipment that will be taking orders and regenerating it after the stock are over will benefit the company. This, therefore, means that in the long run Fred’s’ initial job description will change and might have to be moved from the department in the end (Kinky Boots Case Study, 2017, p.5-6).
The sales staffs are also affected because according to Kevin when they are out in the field taking orders they give retailer promises that the company strains at the time to meet their demands concerning delivery dates. The uses of Navision equipment will rid the business of making wrong orders and from suffering from a lot of requirements that the sales team keep promising the retailers (Kinky Boots Case Study, 2017, p.5-6).
List possible models, tools, and techniques that can be used to analyze the current system. Critique each of these model, tools, and techniques in addressing the problems in the case study.
Object Oriented Analysis Model
Object oriented analysis and structured oriented analysis can be used to analyze the current system. Object oriented analysis has functionality restrictions within objects. This, therefore, will be problematic since the currents system has already set procedures and computation that require one to follow them. The object oriented analysis cannot also identify which objects would generate the necessary system design hence making one to take a lot of time in identifying objects that will make up the whole system.
The analysis in an object-oriented model does not readily show the link or communication between the objects in the system. The analysis interfaces between the objects cannot be presented in a single diagram (Kinky Boots Case Study, 2017, p.6-7).
Structured Analysis Model
Structured Analysis, on the other hand, has a primary challenge because it dictates that one phase should be established first before starting on the next step, this, therefore, outlines a problem in the design especially if an error occurs that will require the change of all initially constructed objects.
The construction of structured analysis is a costly process because the whole system is designed and built systematically hence leaving few Avenue to provide additional functions for the system. The formal model analysis does not allow code to be reused making its development costly and time-consuming on the part of developing more features (Kinky Boots Case Study, 2017, p.6-8).
List of References
Kinky shoes Case Study. 2017. Pg 1-8
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Significantly, under this section the main object will be to analyze how a certain economic phenomenon by a business is likely to impact on the targeted group and consequently ascertain the end result of such undertakings. Thus, microeconomics gives us an insight of what is likely to be anticipated when certain changes are instigated with regard to the operations of a company and this is important because it can further aid in making proper decisions and initiating sustainable operating strategies.
For this section, the microeconomic issue identified is the cutting of prices of products or equally giving of offers by business. The table below briefly illustrates on the tangible issues that will be further discussed.
TOPIC
QUESTION
TOOL
PRICE CUTS/OFFERS
Why do businesses provide price cuts/offers on products?
Undisputedly, the pricing of a certain product eventually determines on whether it is likely to guarantee higher sales or losses. Ordinarily, customers are sensitive when it comes to the price of s product that they want to purchase because if it is not a pocket friendly price, then a majority will opt to buy an alternative product that will equally serve the same purpose but at a reasonable price (Dogan, et al 2013).
Similarly, when operating under a certain field competitors are bound to be present. This means that for one to outsmart them they have to come up with effective strategies to lure more customers to buying their products as compared to the rival’s and subsequently gain a large market share ( Pauwels & D’aveni, 2016). Hence, pricing seemingly plays a vital role under such circumstances.
Important to note is that before a business embarks on an initiative of providing price cuts on its products, there are certain essential factors that must be considered. This is so because not all price cuts may work for the advantage of the company. In fact, it is assumed that most price cuts tend to lead to low profit margin for the concerned business and this may hurt the overall operations of the business.
Among the things to be considered includes the long term implications of price cuts. For instance, one a price cut has been made and new customers have joined the bandwagon of purchasing it, increasing such a price thereafter may lead to loss of these customers as such a business must put in place other plans such as improving the quality of the product so as to demand a higher price because without such modification the initial price cut may end up hurting the business.
So as to answer the critical question of why do various businesses offer price cuts, the subsequent section of this paper will dwell on analyzing the various tools identified in discussing the economic issue.
Competition
Foremost, competition is one of the key features of any market. However, stiff competition may force a business out of the market as only the dominant participants get to have the larger market share. To mitigate such an event occurring, businesses are inclined to offer price cuts to their products so as to retain a fair share of the consumers in the market.
By giving such price cuts, it means that such a company can compete fairly in the area of operation. Accordingly, one can argue that consumer would often resort to buying products at reasonable prices, hence if one of the competitors is offering the same product at a higher price it is highly likely that they will lose buyers to the company that gives relatively cheaper pricing. In such a situation, to promote a fair competitive market, prices will thus be relatively proportionate as a result leading to a fair share of each participant in terms of customers and the market place.
Sales
Significantly, when a product does not sale it may eventually cause the business to succumb to losses. Thus, the concept of sales can be boosted in a twofold channel. First, for new products that have been introduced to a market it is imperative that price cuts are given so as to entice customers into buying the products.
On the other hand, when there are low buy outs of products, then a company may opt to initiate price cuts all in a bid to try and revamp the product. Generally, price cuts that aim to boost the sale of a commodity have to address a certain deficiency. In this way, having reduced prices serves as an effective tool in enhancing the purchase power of consumers towards a specified product.
Brand Promotion
Particularly, for new products that are unknown to consumers, it is vital that price cuts are provided. This is so because, often consumers may refrain from interacting with new products in the market based on aspects such as having a preference of the already existing ones. Such circumstances may impair the emergence of new businesses in that market. Thus, when price cuts are offered as incentives for customers, it id then highly likely that new consumers will indulge in buying the given product based on its reduced pricing.
Market dominance
Naturally, for businesses that operate in the same field of operation the market share that one has over the other largely matters. The market share determines the profit that a company expects to acquire from its sales. Hence, companies are motivated to initiate strategies that would put them at an advantage position over their rivals. One of the ways of doing this is by providing price cuts on the products of the business. Price cuts as aforementioned in the discussed sections are an allure for new customers.
When one business obtains new customers that belonged to a rival company it subsequently means that the former company acquires a large market share. However, such an undertakings has its downside in that it forms a platform for emergence of a monopolistic market structure whereby there is only one dominant player. When this happens, consumers are put in the liberty of that dominant player in the market because such a business has all the power and keys of controlling how that particular market will operate.
Economic recession
Notably, the economic state of a country determines how consumers of products will purchase and spend on products. In the case where the economy is booming and businesses are not financially constrained, consumers are highly likely to purchase products without much limitations or considerations such as on pricing. In this scenario, offering price cuts whereas fellow competitors are not may harm the business because consumers may not give too much concern about their spending.
On the other hand, when there is an economic slump, in that businesses are not doing as well as they would normally do this thus calls for effective measures to retain and attract customers so as to continue operating.
Under an economic recession situation, consumers would preferably want to spend less. To match with such changed dynamics, then one would argue that price cuts on the products of a business are the most viable solution to follow.
Market failure
Considering market failure is a concept that occurs as a result of inefficient allocation of certain resources within the market of operation, then such a situation is consequently likely to affect the operations of the company (Fabella, 2015). For instance, a monopolistic market structure may be deemed as a market failure ingredient based on the fact that new businesses will find it hard to compete in a market that is largely dominated by one player.
Nonetheless, in such a situation a company may opt to provide price cuts on its product so as to try and mitigate the market failure effects which if not diminished will certainly curtail the operations of the other businesses.
Government failure
Significantly, the government is duty bound to make sure that businesses operate in a fair and friendly environment. To do this, certain limitations must be imposed and constraining barriers broken down. For instance, take a situation whereby the government fails to monitor the operations of businesses through relative agencies, in such a situation certain business may drain consumers by instigation undertakings that would solely serve their own interest. One of such an undertaking may be over-pricing on the produced products.
However, such an undertaking may not suit all the businesses within the market as such prompting the need to lower prices of similar goods so as to counter the other business competitors.
SECTION SUMMARY
Nonetheless, there may exist factors that may affect this equilibrium price such that a business may be forced to make adjustments. This is of essence because without such alterations, a business is likely to operate under losses. The aspect of price cuts maybe one of the ways that business may use to reach certain equilibrium.
By giving price cuts it fundamentally indicates that a company aims at first increasing its sales and similarly obtains new customers. Importantly, aspects such as the profit margin that the business aims at must be considered before making such a move. In doing this, prior research is essential because without having knowledge of such information then a business may orchestrate its failure.
CONCLUSION
Foremost, markets are placed that are guided by certain distinctive features that must be observed and preserved so as to allow business to operate efficiently. For instance, without embracing the concept of fair competition between rival businesses, then one may triumph over the other leading to unfair labor practices.
Significantly, the importance of government intervention in market practices cannot be ignored. The government plays a key role in regulation of various aspects of the market so as to facilitate proper co-existence between the firms themselves and the consumers that they serve. Without such an intervention, evidently every business would seek to protect their own interests putting aside all other basic requirements such as offering quality products.
When it comes to the various macroeconomic issues that may affect the operations of markets, first it is important to note that such issues may have a direct effect on the activities of consumers and as a result end up curtailing the operations of the business in the end. Microeconomic issues should be looked at from a wider scope. Their particular effects should be analyzed in depth so that the right techniques are initiated to mitigate on their possible hazards.
Significantly, these issues should never be ignored before they may have adverse effects on the operations of the company as such creating the need to find way to move around them and benefit the business.
Finally, without fair market practices, not only does firms suffer but consumers too share in the same suffering. This calls for proper market practices that protect both the interests of the businesses and consumers so that none is inclined to spear-head their own interests on the expense of the other. Where unfair practices may emerge, it is imperative that even the firms themselves take personal measures and approaches to meditate on the negative consequences.
Reference
Boyd, T. (2015, Nov 28). Woolies crisis to go for years.The Australian Financial Review
