Produce a marketing strategy for a new or existing product Essay Example

Produce a marketing strategy for a new or existing product Essay In this unit I will need to produce a marketing strategy for a new or existing product. The company that I have chosen is boots. My strategy will need to include evidence and information about: * how the strategy is based on the principles of marketing * How I have used sources of primary and secondary marketing information * How I have analysed the impact of the external environment on your marketing decisions We will write a custom essay sample on Produce a marketing strategy for a new or existing product specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Produce a marketing strategy for a new or existing product specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Produce a marketing strategy for a new or existing product specifically for you FOR ONLY $16.38 $13.9/page Hire Writer * How I analysed the marketing context and decided on an appropriate strategy * How I have developed a coherent mix of strategies to meet consumer needs. I will also need to produce an oral presentation. First I will define what are marketing and its principles. Marketing is a way of advertising something. It is a way of thinking. Market The set of actual of potential users/customers. Market area A geographical area containing the customers/users of a particular firm/library for specific goods or services. Market demand The total volume of a product or service bought/used by specific groups of customers/users in a specified market area during a specified period. Market development Expanding the by present users. Market positioning total market served by 1) entering new segments, 2) converting nonusers, 3) increasing use Positioning refers to the users perceptions of the place a product or brand occupies in a market segment. Or how the company/librarys offering is differentiated from the competitions. Market profile A breakdown of a facilitys market area according to income, demography, and life style Market research The systematic gathering, recording and analysing of data with respect to a particular market, where market refers to a specific user group in a specific geographic area. Market segmentation The process of subdividing a market into distinct subsets of users that behave in the same way or have similar needs. Segments for the library could be demographic (Asian); geographic (branch-level); psychographics (leisure-oriented); customer size (largest user group area); benefits (have children in the home learning to read.) Market share A proportion of the total sales/use in a market obtained by a given facility or chain. Marketing The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. Marketing channel A set of institutions necessary to transfer the title to goods and to move goods from the point of consumption. (Vendors, publishers, library facilities.) Marketing mix The mix of controllable variables that the firm/library uses to reach desired use/sales level in target market, including price, product, place and promotion- 4 Ps. Marketing opportunity An attractive arena of relevant marketing action in which a particular organization is likely to enjoy a superior and competitive advantage. Marketing plan a document composed of an analysis of the current marketing situation, opportunities and threats, analysis, marketing objectives, marketing strategy, action programs, and projected income statement Marketing is the management process that is responsible for identifying products that would be likely to make a profit when sold and then selling these products to customers. Marketing finds out what consumers want and then attempts to meet those needs, at a profit. It a can also be defined as getting the right product to the right place at the right time. It is not the same as selling- that is making people buy what youve got. Marketing is making people want what youve got. The aim of marketing is to make selling superfluous. The aim is to know and understand the customer so well that the product or service sells itself. When marketing a product you need to consider the 4 ps. Getting the mix right is essential to successfully market your product. The four Ps are: * Product- can be a good or service. In competitive markets, businesses have to be customer driven. They may use types of product differentiation (e.g. package design and/or a brand name) in an attempt to convince potential customers that their good or service is different from competitors products. The four types of products are: 1. Star High share of market in the growth stage of the product life cycle. -Requires significant injections of capital to finance the rapid growth. -May have negative cash flows but seen as having potential for high sales, and profit. 2. Cash Cow -High markets share, bringing in high sales revenue, cash flows and (usually) profit. -No market growth likely. -Product may have a personality/image in the market. -The large amounts of cash bought in can be used to subsidise stars. 3. Problem Child -Low share of a market with high potential for growth. -Relatively large injections of finance needed (as with stars). -Uncertainty about future sales revenue, cash flow and profit. -Decision needed on whether or not to halt production, or (if possible) to sell a brand. 4. Dog -Not going anywhere- no growth potential. -Any profit has to be reinvested just to maintain market share. -Identify and remove from the product portfolio. * Price- setting the right price for a product is a crucial aspect of marketing. There are short-and long-term objectives to be considered when pricing goods or services e.g. survival may become the priority in a recession, and imply low prices to maintain some sales and cash flow. Economic theory assumes that a price will be determined by market forces reaching equilibrium. The economic environment. A business may simply have to try and match the market price/going-rate for its products, or may have some control over its prices. * Place- Making goods available to users/consumers involves two main decisions: 1. Method of Transport-Depends on the type of goods. There will be several factors, e.g. most rail journeys also involving road transport, and whether a business should have its own fleet of road vehicles. 2. Channel Of Distribution-The procedure, or channel management required getting a product to the customers. The traditional channel includes using the wholesaler, but there are other possible channels. * Promotion-The overall objective of promotion is ensuring the survival and the growth of a business through an increase in long-term demand for its product(s). Selling will be the outcome of successful promotion. Market research is the collecting of data, the aim of which is to understand better what is happening in the marketing place, as the marketing department of a firm needs to know about consumers views and economic trends. Primary data is data you have gathered yourself, whereas secondary data is somebody elses data you use. Market research involves doing market research on customers, analysing their needs, and then making strategic decisions about product design, pricing, promotion and distribution. The purpose of market research is to provide information on particular market to those managers responsible for the firms marketing strategy, about what people want-a particular group of potential customers will need to be targeted. Data can be: * Primary- i.e. collected for a specific purpose. It will involve either a census (of every person in an area) or sampling (of a subset of the population). or * Secondary-i.e. Used for another purpose besides the original one. It could be internal data (from within the organisation, e.g. employee details or costings), or external data (e.g. from a government department, a newspaper, the TUC or the CBI). And. * Quantitative- i.e. in the form of numbers, e.g. showing the market share of different businesses, or the number of adults who will have seen a particular advertisement on television. Or * Qualitative- i.e. without, e.g. giving the motives for customers buying, or not buying, a particular product. In most cases market research will involve choosing a sample to represent the whole target group. The larger the sample, the more accurate the results will be, but costs will also be greater- a full national census costs millions of pounds, e.g. Random sampling is where every member of the target group/population has an equal chance of being chosen to provide responses. Computers might do the random selection. Systematic sampling involves selecting, for example, every 10th item or person from a list of the target group. Stratified sampling identifies distinguishable subgroups in the total group, then a certain number of members of each subgroup are chosen (at random). Cluster sampling involves selecting a geographical area, and then all the members of that local group/population are sampled, e.g. a sample of small retailers in a particular town. Field or primary research is when new data is obtained for a specific purpose, this can be provided by the marketing department of a firm. Data is usually gathered by surveys, (face-to-face, telephone, or by post). An advantage of field research is that the firm can have control over the whole process, and it can be more effective, but it does take longer and will cost the firm more. Desk or secondary research is the use of existing, already collected data. This could be anything from department of trade and industry reports to a companys sale statistics. Also company reports, government statistics, and surveys published by research organisations can be used as secondary sources of information. Desk research is quicker and cheaper than field research, but findings are not necessarily accurate or always relevant to your product. Marketing principles, there are many priorities within an organisation, but if it is truly marketing oriented, many of the following principles will be high on its agenda. Market research must establish whether current products or services satisfy customers expectations. Anticipating the future and forecasting tomorrows customer needs and expectations is the task of marketing research. This is very vital. Generating income or profit clearly states that the need of the organisation is either to be profitable or to generate as much income as possible e.g. likes a charity. Satisfactory growth can be achieved by entering new markets or creating a new product or both. Having a clear plan is essential for an organisation. The whole emphasis of the planning process is for the organisation to think customer and think marketing. The PEST analysis examines changes in a market place caused by political, economic, technological factors. Any organisation unaware of what is going on in the business world will risk being outmanoeuvred. Changes in the law will add to uncertainties. Statue law like the consumer protection law, and the voluntary agreements like the moni toring of advertising standards authority. Clearly understanding who the competition is and what benefits they are offering are essential for an organisation. Principles can be arranged into three categories: * Needs of the customer * Needs of the organisation * Influence of the market Businesses use the abbreviation SMART to shape their objectives. SMART stands for Specific, Measurable, Achievable, Realistic Time constrained. There are many types of business objectives in the private sector, depending on the business situation and their general direction in the market, they are as follows: 1) Survival When a business is in its early stages then it will want to survive, it will shape its objectives to make trading easier and maximise profits. Another threat to a business survival is corporate takeover; to prevent this a business would have to reshape their objectives. 2) Profit Maximisation This is exactly as it sounds, for many reasons a business will need to maximise profits and to do this suitable objectives will have to be drawn up. Some business may choose to go for long-term profit maximisation to ensure that they make lots of money and can therefore expand. 3) Satisfying This is an objective that maximises profit to the owners; it might not give the maximum profit that is possible to achieve. 4) Growth These objectives increase the growth of the business so that the workers, managers and directors can benefit. 5) Promotion of image Relationships with customers and employees is key in a modern business and so a company is ever vigilant of how it appears to these people. For a company o is better that the competition it is important that they have the correct image and a better one than the competition. Objectives can be shaped to develop good relations and treat employees well. Boots is a public limited company; they are included in the FTSE 100 stock exchange. Boots main business activity is retailing also they provide many other services such as: à ¯Ã‚ ¿Ã‚ ½ Boots Opticians à ¯Ã‚ ¿Ã‚ ½ Boots Dental care à ¯Ã‚ ¿Ã‚ ½ Boots Foot care à ¯Ã‚ ¿Ã‚ ½ Health Beauty Services à ¯Ã‚ ¿Ã‚ ½ Boots Hearing care à ¯Ã‚ ¿Ã‚ ½ Insurance Services ADVANTAGES AND DISADVANTAGES OF LIMITED LIABILITY COMPANIES 1. Liability is, in the vast majority of cases, strictly limited to the investments made by the shareholders. 2. Company Officers are not personally liable for their actions unless, in most instances, there is a clear and serious breach of their fiduciary duty. 3. Ironically, despite the limited liability, such entities often benefit from greater prestige than their sole proprietorship or partnership counterparts. The reason is probably because such an enterprise normally requires more planning and thus is deemed more credible. 4. They often benefit from significant tax advantages. In fact, many countries around the world give exclusive tax incentives to this type of entity. 5. The rights of shareholders are normally clearly defined and protected. 6. Corporate taxes only become payable after the end of the financial year. This means that money that would otherwise be taxed on a monthly or quarterly basis is available to earn further money before the final payment of tax. DISADVANTAGES 1. In larger companies shareholders often lose direct control over their investment. 2. Limited liability companies generally require the appointment of accountants, auditors and professional company secretaries. This means that such a structure is often more expensive to maintain than simple sole proprietorships or partnerships. 3. Certain professional bodies, especially those representing the legal and medical fields, do not allow members to register a limited liability company. In many instances, this denial has resulted in very high indemnity insurance. Aims Objectives The Boots Company intends to become the leader in wellbeing products and services in the UK and overseas. Simplify the business to focus on what we are best at. We should be a market leader, in health care, beauty care, and general fitness. We need to create more wellbeing related brands. Keep building our international health care and retail business. The objectives above mean that, first of all the Boots Company the leader in wellbeing products and services in the UK and overseas this means that they want to be the market leaders from their competitors who are Super drug, and for their retail range, GAP. They want to simplify the business to focus what they are best at, health and beauty; this means that they want to focus more on their beauty products such as No7. Also the want to be a market leader in, health care, beauty care, and general fitness, this is because Boots believes that wellbeing products are starting to focus now on health care and related areas. Also they want to create more wellbeing products because they want to be market leaders in wellbeing, this will not be cheap for them, but they well have to protect profits by relentlessly cutting costs. Also they want to keep building their international health care because the want to be market leaders around the world. The Boots Company have simplified the business organisational structure; during the year they have integrated their business as Boots Retail, with Boots Retail International as its overseas extension. This is saving Boots costs and them more a swift organisation. For example they have moved from three separate property departments to one; from 100 construction suppliers to seven; and from 14 internal IT groups to one. The have accelerated the transformation of their UK presence. They are positioning Boots as the leader in wellbeing services, as well as products. By the year-end of 2001 they had 297 Boots optician stores, 54 Dental care practices, 44 Foot care practices, 47 Hearing care centres, 22 Laser hair removal clinics, ten Health Beauty Services centres offering a wide range of therapies and treatments. This is telling us that Boots is very serious to becoming the leader in wellbeing services and products. Sales à ¯Ã‚ ¿Ã‚ ½M231.0Operating loss (33.1) Boots have stepped-up the pace at Boots Healthcare International. Clearasil, acquired in December 2000 was the driving force behind BHIs 12.5% sales growth last year. They also integrated the brand smoothly, turned its sales from decline to growth, and used it to open the door for local businesses to the huge US over-the-counter markets. South Asia, in Thailand, like for like their sales grew by 2.2%, focusing the offer much more on Boots brands and therefore driving up the margin, generated an even strong like for like gross profit growth. Europe, in Netherlands, sales of No7, grew in line with expectations as gained national distribution. This tells us that in the two continents where Boots is located they are making profits and they are successful, and they are keeping building their International business. This tells us that in the two continents where Boots is located they are making profits and they are successful, and they are keeping building their International business. Boots Retail International Sales à ¯Ã‚ ¿Ã‚ ½M40.3Decrease % (4.3) Loss à ¯Ã‚ ¿Ã‚ ½M (before expectations)(24.Increase %44.5 To develop an appropriate marketing strategy would involve creating a link between the external environment and the internal strengths of Boots. SWOT analysis is the focus upon the strengths, weaknesses, opportunities and threats facing a business internally and externally. To enable a SWOT analysis to be carried out, research into Boots current and future positions need to be completed. This would result in building upon its strengths, minimise its weaknesses, seized its opportunities and cancel out the threats. STRENGTHS à ¯Ã‚ ¿Ã‚ ½ Large established business à ¯Ã‚ ¿Ã‚ ½ Good reputation à ¯Ã‚ ¿Ã‚ ½ Wide portfolio of products à ¯Ã‚ ¿Ã‚ ½ Good advertising (Coronation St) à ¯Ã‚ ¿Ã‚ ½ Large target market OPPORTUNITIES à ¯Ã‚ ¿Ã‚ ½ Sponsorship for sporting events à ¯Ã‚ ¿Ã‚ ½ Diversify into a different market à ¯Ã‚ ¿Ã‚ ½ Expand Nationally à ¯Ã‚ ¿Ã‚ ½ Promote using large marketing strategies THREATS à ¯Ã‚ ¿Ã‚ ½ Cadburys main competitor launching a new product à ¯Ã‚ ¿Ã‚ ½ More companies diversifying into the cosmetics market à ¯Ã‚ ¿Ã‚ ½ A large price war, taking Boots off the market WEAKNESSES à ¯Ã‚ ¿Ã‚ ½ Unmotivated staff in the work place à ¯Ã‚ ¿Ã‚ ½ Too big a demand for a particular product PEST is split into four categories, political, economic, social and technological influences, which are all external factors. A PEST analysis identifies what external factors are going to affect Boots in the coming months and years. POLITICAL business decisions which are influenced by political and legal decisions. à ¯Ã‚ ¿Ã‚ ½ Political decisions can affect Boots for the good and the bad, because if taxes increase, therefore consumers decrease and sales of stock decrease. However if taxes decrease the likelihood is consumers will buy more. à ¯Ã‚ ¿Ã‚ ½ Laws can also change Boots income because if a law was brought out, that you could only work 9.00am 5.00pm. ECONOMIC influenced by domestic economic policies and world economic trends. à ¯Ã‚ ¿Ã‚ ½ The interest rates can affect Boots because if the interest rates were high then Boots would not want to borrow as much money for expansion. Also if consumers had loans they would again have less disposable income to but luxury items. à ¯Ã‚ ¿Ã‚ ½ If the minimum wage was brought down, this would mean more money for Boots but would also result in low sales from the consumers. à ¯Ã‚ ¿Ã‚ ½ The government can also raise taxes, which would bring a stand still to the sales of cosmetics. SOCIAL -close analysis of society à ¯Ã‚ ¿Ã‚ ½ If Boots do not control their pollution levels or have big buildings destroying the landscape with noise and traffic congestion, then the local residents would complain to their local council resulting to possible incentives for bringing in jobs for the community being stopped. à ¯Ã‚ ¿Ã‚ ½ On the other hand local residents with small businesses near to Boots would benefit due to the money being brought in by tourists. TECHNOLOGICAL developments in manufacturing and business processes. à ¯Ã‚ ¿Ã‚ ½ Cost of machinery. à ¯Ã‚ ¿Ã‚ ½ New machinery à ¯Ã‚ ¿Ã‚ ½ Maintenance à ¯Ã‚ ¿Ã‚ ½ Training for advancing IT à ¯Ã‚ ¿Ã‚ ½ Upgrading old machines to improve the company à ¯Ã‚ ¿Ã‚ ½ Advances of transport of goods/cost/lorries Boots Mission Statement is: Our mission is to grow our business profitably so that we are: A leading player in our chosen markets by size, ranking, regard or influence. A natural choice for customers and intermediaries- positively regarded, attractive and competitive. A challenge to our competitors creditable, effective and respected. Mohammed Shaqeeb 13ADO

Strategic Analysis of Zara The WritePass Journal

Strategic Analysis of Zara Executive Summary Strategic Analysis of Zara , when a journalist published a report looking at the treatment of shop staff, across the company, and found several instances of abuse. Again, Zara acted quickly to put in place an internal investigation and stated that abuse of this nature would not be tolerated. Although the company seems to be working with unions, in order to improve the position, the report clearly had an impact on the way in which the company was viewed, with concerns now being shown over the treatment of staff, as well as the treatment of individuals in developing countries who are producing the products, in the first place (Balchin 1994). It is, however, noted that other organisations operating in a similar way to Zara have also suffered similar problems, with Primark being the main example of concerns over conditions for suppliers and the workers in the developing countries. Strategic Analysis Pulling together both the external and internal factors impacting on Zara as an organisation, it is then possible to establish a strategic plan for the future, in order to ensure the ongoing success of this substantial fashion retailer. Corporate Strategy The overall strategy for the company, referred to as the corporate strategy, looks at the general approach which the company should take, before going on to consider, in more detail, the business level strategy that can be used to achieve ongoing success (Doherty, 2004). The corporate level strategies which Zara needs to focus on are doing what it does best, and where it has achieved the greatest efficiency, in recent years. One of the key reasons that Zara has managed to achieve this success is down to its efficient supply chain, which is critical to the current demands of the fashion industry at to meet consumers demand regular updates of products and new and innovative fashion, on a regular basis. Zara has managed to ensure that it has a first mover advantage by being able to bring the product to the market, within two months, and this unique selling point needs to be exploited further, if consumers are going to be prepared to pay slightly more, in order to gain access to new products before others (Coyne and Sujit Balakrishnan 1996). It is suggested that Zara needs to retain a cost base element, in terms of strategy, as it has gained a large amount of support from high street customers who are looking for fast fashion, at a disposable level. By maintaining this price position, the company can then encourage consumers to renew their fashion products, regularly, thus offering continuous revenue for the company. Business Level Looking more specifically at the business level strategy, it is suggested that certain product lines need to be focused on, in order to keep the look within the high street stores fresh, as well as looking towards new opportunities for improving the supply chain, particularly given the recent PR crisis associated with its supply chain choices. It has been identified that one of the major advantages and strengths of the company is the fact that it can achieve a very rapid link to the market. Whilst it is currently the case that Zara has an unrivalled supply chain, it should not be accepted as the forever position and continuous efforts need to be made to improve the supply chain and to form alliances with appropriate third parties. Technology plays a huge role in this, and therefore having a strategic business unit which is entirely focused on technology and the use of technologies to create internal efficiencies, needs to be one of the primary business level strategies (Murphy, 1990) . A greater focus also needs to be placed on the team that is responsible for producing the designs which will ultimately make it onto the high street. Zara has achieved a position within the market that encourages individuals to look towards the brand as a means of gaining cutting-edge fashion, at a low cost, and the design of these products is therefore critical, if this position is to be maintained. Continuous evolution within this area is a necessary part of retaining the position and also looking towards cutting costs, by altering product designs to take into account the cost of production (Finch 2004). Future Strategies Several future strategies are now suggested for Zara, moving forwards. Economic pressures are likely to remain substantial, across the whole industry. Therefore, cost reduction needs to be critical and continuous, without potentially putting the company in a position where it may face questioning in relation to the ethics of third party suppliers, particularly when it looks towards outsourcing into the developing regions. Several other competitors within the market have suffered negative press, due to the use of suppliers associated with unethical practices. This presents Zara with a real opportunity to set itself apart from other low-cost retailers, by developing a specific ethical strategy that will enable it to retain a relatively low cost, but also allow it to sell itself as an ethical producer (Okumus 2003). The company, therefore, needs to look towards other opportunities, for example, by changing the design of the product to reduce production costs, or looking at creating efficiencies in the supply chain, by transporting goods to a central warehouse that can then reduce the cots of transportation, overall. A substantial focus needs to be placed on the design team and ensuring that it is continuously developing new products which are able to be produced at a relatively low cost. This will enable the company to retain its position for supplying fast fashion within the high street and continuing to attract customers into the store, on a regular basis. Implementation and Evaluation Throughout the implementation of the business strategies, it is necessary to continuously evaluate whether or not certain avenues of activities are successful and whether alterations are necessary, in order to establish greater efficiencies. For example, the supply chain needs to be monitored, on an ongoing basis, in order to identify any losses, either in time or money, so that these can then be reduced or even removed (Grundy, 1993). The decision in relation to which products to design and produce is very much customer driven; therefore, it is suggested that customer reviews are obtained, on a regular basis, so that, where the customer is not being provided with a product that they choose, or are unmotivated to revisit the store, these instances are captured and dealt with, in the future. Finally, evaluation needs to look at the ethical issues which Zara is now tackling, in order to set itself apart from other low-cost fashion producers, with regular reviews and reports being undertaken, not only to ensure that ethical practices are being followed, but also to allow the public to see that Zara is taking its ethical responsibilities seriously (Johnson Scholes, 2002). Conclusions Zara is in a particularly strong position within the fashion market, having established itself as a brand name that produces cutting-edge fashion ahead of its rivals, and at a low-cost. Despite this, it is important that the organisation recognises the forces that are impacting on the external market and uses its own internal strengths to ensure that it retains a competitive advantage, thus enabling it to maintain its position within the market, as one of the brand leaders. A particular emphasis should be placed on the strengths within the supply chain, as this enables the organisation to bring products to the market, at a particularly rapid rate. Furthermore, cost pressures are also being placed on the organisation, which requires the design team to become more efficient when creating designs that can be turned into garments, at the lowest possible cost, without sacrificing ethical standings. Simply put, it is argued that Zara needs to continue to do what it is doing, currently; however, it needs to do it better, with greater emphasis being placed on ethical behaviour, meeting customer demands for new and innovative fashion, while at the same time retaining low-costs, across every aspect of its operation. References Acur N. and Bititci U. (2004) A balanced approach to strategy process, International Journal of Operations Production Management, Vol. 24 issue 4, pp.388-408; Balchin A. (1994) Part-time workers in the multiple retail sector: small change from employment protection legislation?, Employee Relations, Vol. 16 Issue 7, pp.43-57; Bigelow, J. (1980) Strategies of Evolutionary and Revolutionary Organizational Change, Academy of Management Proceedings, Carter, D. E. (1999), Branding: The Power of Market Identity, Watson-Guptill, New York. Coyne, K.P. and Sujit Balakrishnan (1996),Bringing discipline to strategy,  The McKinsey Quarterly, No.4 De Toni A. and Tonchia S. (2003) Strategic planning and firms’ competencies: Traditional approaches and new perspectives, International Journal of Operations Production Management, Vol. 23 Issue 9, pp.947-97 Doherty, A. M. (Editor) (2004). Fashion Marketing: Building the Research Agenda. UK: Emerald Group Publishing Limited. Finch P. (2004) Supply chain risk management, Supply Chain Management: An International Journal, Vol. 9 Issue 2, pp.183-196; Grundy, T. (1993) Managing Strategic Change, Kogan Page, London UK. Johnson, G. Scholes, K. (2002) Exploring Corporate Strategy: Text and Cases 6th edition, FT Prentice Hall, UK Kumar and Linguri, (2005), Zara: Responsive, High-Speed, Affordable Fashion, the European Case Clearing House. Lopez, C and Fan, Y (2009) Internationalisation of the Spanish fashion brand Zara, Journal of Fashion Marketing and Management, Vol. 13 Iss: 2, pp.279 – 296 Mittal, B. (1988), The role of affective choice mode in the consumer purchase of expressive products, Journal of Economic Psychology, 9, pp. 65 499-524. Moran, R. T. and Riesenberger, J. R. (1994), The Global Challenge: Building the New World-wide Enterprise, McGraw-Hill, London. Murphy, J. M. (1990), Brand Strategy, Director Books, Cambridge. Okumus F. (2003) A framework to implement strategies in organizations, Journal of Management Decision, Vol. 41 Issue 9, pp.871-882; Porter, M.E. (1979)  How Competitive Forces Shape Strategy,  Harvard Business Review, March/April 1979. Porter, M.E. (1980)  Competitive Strategy, Free Press, New York, 1980.

Chevron Corporation Case Study Example | Topics and Well Written Essays - 4250 words

Chevron Corporation - Case Study Example The company owns or has stakes in 9,700 gas stations in the US which operate under the Chevron and Texaco brands. Outside the US it owns or has stakes in 15,400 gas stations, which also use the Caltex brand. The study examines in detail, the three different sectors or industries that Chevron has a stake in: oil and gas exploration and production, petroleum refining, and chemical industry. Earnings for the upstream segment are closely aligned with industry price levels for crude oil and natural gas. Crude oil and natural gas prices are subject to external factors over which the company has no control. Earnings for the downstream segment are closely tied to margins on the refining and marketing of products that include gasoline, diesel, jet fuel, lubricants and fuel oil. The company recorded sales growth of 5.1 percent to $221 billion and net income of $18 billion. Revenue of the company rose to $61.4 billion from $47.7 billion. Worldwide oil-equivalent production fell by 42,000 barrels to 2.61 million barrels per day. A detailed SWOT Analysis has also been conducted in the study, analyzing the various internal sources to examine the strengths and weaknesses, and external factors to examine the opportunities and threats in the environment. Finally, the conclusion and recommendations analyze the different strengths of the company to offset the weaknesses and environmental threats faced by Chevron. Chevron - Company overview Chevron Corporation (Chevron) is one of the largest oil refiners in the United States. The company was incorporated in 1926 and currently has operations in the United States and approximately 180 additional countries. Chevron Corporation, then called Standard Oil Company of California, in 1938 made a huge oil discovery in Saudia Arabia, which eventually led to the discovery of 52 oil fields. After World War II, the company began a major effort to market Arabian crude oil, which was probably the single most important factor in establishing Chevron as a major multinational company. The company acquired thousands of service stations and terminals on the East Coast and part ownership of many more throughout Europe, East Africa, and Asia. The Chevron discovery changed the course of history throughout the world (Jiffynotes, 1998). Today, the company is engaged in every aspect of the oil and natural gas industry, including exploration and production, refining, marketing and transportation, chemicals manufacturing and sales, geothermal and power generation. It is headquartered in San Ramon, California and employs approximately 65,000 people. The company recorded revenues of $204,892 million, during the fiscal year ended December 2006, an increase of 5.8% over 2005. The operating profit of the company was $32,497

Sociology Exam questions tackling Essay Example | Topics and Well Written Essays - 1000 words

Sociology Exam questions tackling - Essay Example Sending food and supplies to starving people in developing countries can sometimes prove to be more harmful because it shakes up the economy. The market in the developing country can become flooded with goods that are donated, meaning these products do not have production cost to recoup, unlike the local products. Because of this competition, the local products are forced to lower their prices which can make them lose their investment. For example, if there are food drives from richer countries, there would be a large supply for a commodity, let’s say corn. This would down the prices of the local farmers’ corn produce, which is bad for them. In short, sending food and supplies can kill the local industries in developing countries. Discuss the main assumptions of world systems theory and outline how this perspective views the economy. The main assumption of the world systems theory is to view the world-economy as a whole, not by merely units that stand alone per country. The study of the social change in any element in the system such as regions, ethnic groups and classes must begin by finding out where in the economic scale these certain elements stand. For example: a state. In the world systems theory, the state will be examined for the changes in has undergone internally, and it will also be studied as an element of society which is affected by changes by the world economy as well. World systems theory is basically the foundation of globalization. According to the main proponent of the idea, Immanuel Wallerstein, there is only one world that is connected by a complicated and complex economic exchanges and an endless accumulation of capital. This theory has features that separate it from other theories. The core, periphery and semi-periphery terms in this theory explain how it works. The societies that work outside the world system is at the periphery while the core has a high level of technological development that enables that society to manufa cture complex products. Now, the role of the periphery is to supply the core these raw materials and cheap labor. There goes the inequality between these societies as the people from the periphery would also buy the manufactured products (fashioned from theirs) from the core. This theory can make the whole world a commodity. It promotes the commodification of materials, including human social relationships, labor and materials. This makes everything material and therefore, everything can be bought. List and describe the three major contributions of feminist research toward understanding the relationship between work, labor and gender. Major contributions of feminist research toward understanding the relationship between work, labor and gender includes equality, laws pertaining to the female sex (like maternity leaves) and the ability of women to participate in work and labor and even sexual violence because of discrimination due to lack of education and work opportunities. Before, s ocial rules deemed women as second class citizens. This is just a social construct, no scientific basis whatsoever. This is usually what happens when something is termed as weak or strong. The feminist movement began in the late 1900s. This brought along large waves of change in the world, and was backed by â€Å"universal† values that claim equality between sexes. This movement is, according to

A poem which depicts a violent incident Essay Example for Free

A poem which depicts a violent incident Essay TASK: Choose a poem in which there is a dramatic or violent incident. Show how the poet conveys the incident using various poetic techniques. ‘Glasgow 5 March 1971’ by Scottish poet Edwin Morgan effectively conveys a violent incident which occurs on a busy street in Glasgow. The incident captured in this instamatic poem involves a violent attack on a young couple who are pushed through a shop window by thieving youths. The incident is shown vividly through various techniques such as imagery, word choice and structure. Through this poem, Morgan effectively criticises society and our reluctance to help others in need. One of the ways in which Morgan helps us understand the incident is through the use of imagery. The poem begins with a striking metaphor to describe the â€Å"ragged diamond of shattered plate-glass†. The broken glass is being compared to a diamond to help us picture the sharp, glinting edges of the window. This immediately shows how violent the incident is. He goes on to describe the man’s face as â€Å"bristling with fragments of glass†. This metaphor compared the numerous shards of glass on his face to a beard. This again highlights the pain and damage caused to the innocent â€Å"young man†. The serious nature of the injuries is also conveyed by the words â€Å"spurts of arterial blood† which creates the image of blood gushing out of the girl. Her â€Å"wet-look white coat† emphasises the amount of blood and the contrast of red blood on white which creates a strong visual image. The poem then moves on to describe the attackers using effective word choice to convey the lack of compassion shown to the victims. The incident is described as the â€Å"operation† which suggests that this is a purely business-like transaction for these people. There is no emotion. The word â€Å"loot† suggests that the youths’ only care is to grab as many valuables as possible and do it â€Å"smartly†. This highlights the impersonal, business-like manner again, showing a lack of humanity. Again this is done with â€Å"no expression† which shows no concern or care for the couple whose faces show â€Å"surprise† and â€Å"shock†. The word choice used here effectively shows the selfishness of the youths whose only care is to steal with no concern for who gets hurt in this violent incident. . Morgan achieves this by using the present tense, â€Å"a young man and his girl are falling†, â€Å"their arms are starfished†. This creates the effect of seeing the event as a picture rather than an ongoing event. The writer emphasises this with the words â€Å"sharp clear night† which relates to a camera image again. This helps the reader stand back and look at the event objectively without be involved. Morgan is trying to make the point that this is what we do in society when we see violence occurring – stand back and not get involved. This theme of society’s reluctance to help others is shown through the deliberate reference â€Å"in Sauchiehall Street†. This makes it clear that this violent incident took place on a busy street in Glasgow where lots of people would be. He goes on to refer to drivers â€Å"in the background† which again highlights the fact that people do not come forward to help the victims; they â€Å"keep their eyes on the road†. This final line effectively conveys Morgan’s attitude that people turn a blind eye to violence, most likely from fear or lack of compassion. Through presenting this ‘snapshot’ of the incident in â€Å"sharp clear† detail, it makes the reader think about what we would have done in this situation and why people failed to act. In conclusion this poem effectively conveys a violent incident on a busy Glasgow street. Edwin Morgan successfully highlights the lack of concern in our society for others. He achieved this through his instamatic technique, vivid imagery and effective word choice. These techniques helped me visualise the incident well and understand the writer’s message. The poem really made me think about how we treat one another in society as this incident is set in Glasgow in a busy street. It made me wonder if this would actually happen and if people would help or turn a blind eye.

The Character of Shakespeares Hamlet Essay -- GCSE English Literature

  Ã‚  Ã‚  Ã‚   Hamlet is arguably the greatest dramatic character ever created. From the moment we meet the crestfallen Prince we are enraptured by his elegant intensity. Shrouded in his inky cloak, Hamlet is a man of radical contradictions -- he is reckless yet cautious, courteous yet uncivil, tender yet ferocious. He meets his father's death with consuming outrage and righteous indignation, yet shows no compunction when he himself is responsible for the deaths of the meddling Rosencrantz and Guildenstern, and the pontificating lord chamberlain, Polonius. He uses the fragile and innocent Ophelia as an outlet for his disgust towards the Queen, and cannot comprehend that his own vicious words have caused her insanity. Hamlet is full of faults. But unlike Macbeth, who has committed murder and, as a direct consequence, has been relegated to the heap of weak-willed villains, Hamlet has remained a demigod of sorts -- his faults having been quashed under his good qualities. What are Haml et's good qualities? How is it that even seemingly negative qualities like indecisiveness, hastiness, hate, brutality, and obsession can enhance Hamlet's position as a tragic hero -- a 'prince among men'? To answer these questions we must journey with Hamlet from beginning to end, and examine the many facets of his character.     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Our first impression of Hamlet sets the tone for the whole play. Even without Shakespeare providing an elaborate description of Hamlet's features, we can envision his pale face, tousled hair, and intense, brooding eyes. Dressed totally in black, Hamlet displays all the 'forms, moods and shapes of grief'. His mother cannot help but notice Hamlet's outward appearance of mourning, but Hamlet makes it clear that the overt signs o... ...ally die, it is his princely qualities that make the lasting imprint in our minds. Hamlet remains The courtier's, soldier's, scholar's, eye, tongue, sword, The expectancy and rose of the fair state, The glass of fashion, and the mould of form The observ'd of all observers (III.i.153-56)          Bibliography Bradley, A.C. Shakespearean Tragedy. (New York: St. Martin's Press, 1966). Burnett, Mark, ed. New Essays on Hamlet. (New York: AMS Press, 1994). Evans Lloyd Gareth. Shakespeare IV. (London: Oxford university Press, 1967). Granville-Barker, Henry. Prefaces to Shakespeare.3 (New York, Hill and Wang, 1970). Loske, Olaf. Outrageous Fortune. (Oslo: Oslo University Press, 1960). Muir, Kenneth. Shakespeare and the Tragic Pattern, Proceedings of the British Academy, Vol.XLIV (London: Oxford University Press, 1958).

Human Resource department of Thorpe Park Essay

Introduction: This report written on the 16th of October 2002 is to give a detailed report about the Human Resource department of a company. For this purpose, Thorpe Park has been selected as the study company. Task 1-Human Resource function: Introduction: ‘Human Resource means using people as an asset to achieve the company’s goals and objectives.’ The main concerns of the human resource department are: > Planning a successful campaign > Equal opportunities to all > The contract terms and conditions > Training and investing in training > Personal records and its protection > Grievance and disciplinary procedures > Management of the employees > Rewards for work > Welfare of the employees Findings: 1.1 The Human Resource department The human resources department at Thorpe Park has three different managers. Their structure and main functions are as follows: 1. Recruitment manager The recruitment manager at Thorpe Park is responsible for recruiting permanent and seasonal staff. The manager has to advertise the jobs on the local press and other appropriate places. The manager at Thorpe Park is also responsible for deciding work experience positions and other recruiting responsibilities. 2. Training manager The training manager at Thorpe Park is responsible for employees and their training. The major activities of the training manager at Thorpe Park are as follows: > Park structure – this is helpful for the staff as it gets them to know each other and their responsibilities. > Health and safety – to make sure that all employees know what to do and how to handle things in an emergency > Rules and regulations – all employees must know the company rules and regulations as it is required by law and helps the business achieve the objectives. > Role-play situation – helps employees to be able to do team work and support their team mates > Fire safety – show fire exits and fire extinguishers and where to meet and who to call if a fire alarm sounds > Emergency procedures – shows the employees what to do in case of emergency 3. Human resource manager H.R. manager at Thorpe Park is responsible for: > Employee relations – involves everything regarding relation and communication between the employees > Disciplinary procedures – if employees do not behave H.R. manager will provide them with a verbal warning and if repeated that will be followed by the written and then the final warning. > Contracts of employment – making sure all the employees are provided with this legal document > Pensions – paying pension to people that are entitle to it > Other sections this manager is responsible for are: administration, cast welfare, benefits incentives. The above stated managers are very essential to the management of Thorpe Park in the following ways: 1. Recruitment Recruitment responsibility at Thorpe Park is important because if there is not enough staff recruited then the business may have to some of its rides and that will lint to unhappy customers and less profit for the business. As we know staffs is the most expensive asset for all businesses, at Thorpe Park the recruitment managers have to make sure that the staff that they employ are well qualified and fit to the requirements that are necessary for the particular job. 2. Training Because of the nature of the business at Thorpe Park, training is a part and parcel of the new employed staff. The business has to make sure that the employees do know as to what they are doing and what are the necessary precautions to be taken while performing that job. Apart from this, they also have to take care of the health and safety of the people who come to enjoy there. The training manager therefore has to make sure that the money spent on the training of the staff is worth it. 3. Human resources Task 2 Introduction: Human resources planning used to be called manpower planning. However recently it has been defined as ‘the activity of management which is aimed at co-ordinating the requirements for the availability of different types of employees’. The reasons for human resource planning are as follows: * To encourage employers to develop clear links between their business plans and their HR plans so that they can integrate the two more effectively, for all concerned. * Organisations can control staff costs and numbers employed far more effectively. * Employers can build up a skill profile for each of their employees. This makes it easier to give them work where they are most value to the organisation. * It creates a profile of staff, which is necessary for the operation of an equal opportunities policy. The process of human resource planning: * Stocktaking: This could be job analysis or skills audit. That is like a survey of the skills of employees. Performance reviews as if a 6 months review which tells employees about the progress in their work area. * Forecasting supply: This is as if estimating how many employees to have in the future. Many organizations use a technique called labour turnover. There are three ways to calculate this 1. Annual labour turnover index, 2. Stability index 3. Bowey’s stability index. * Forecasting the demand for labour: This is usually determined by predicating factors like, demand for products, product diversification and capital investment plans. * Implementation and review: This is as if accessing the situation e.g. they have the new recruitment plan been successful. Findings: 2.1.1. Employment Trends: Employment trends depend on the supply and demand of labour. The supply of labour depends on statistics like the population of the country. The total population of the UK depends on factors such as birth and death rates and the ease of migration. In addition, the size of the working population affects employment trends. The size of the working population is contributed by the birth and death rates and the age structure. The supply of labour also depends on the working populations preferences for leisure. As people become wealthy, they prefer leisure for work. The demand for labour levels can change with differences in demand for goods and services. An example of this is the leisure and cleaning industry has gone up but the service and manufacturing demand has gone down. Here is an example of this in the economic market. In a boom we spend more on goods and services, although our interest is a lot lower and therefore demand increases and unemployment is low, but in an economic slump interest rates rise therefore people have less income to spend and wages go down. In addition, the cost of borrowing is higher this all contributes to demand falling and high unemployment. Total wage bills rise in a boom and fall in a slump. Another factor that affects employment trends is women’s participation rate in employment. The rise of the tertiary sector has meant a change in employment and employment patterns. The tertiary sector is now more important than the secondary sector which traditionally employed man in say manufacturing. These industries are now being replaced and their place has been taken by the service industries, for example banking, insurance and retailing. The service industries are now major employers of women. What are the employment trends at Thorpe Park? Most employees are recruited from the local area but also from colleges and universities around the country these are student placements and some seasonal; cast come from aboard. What have been the trends in the local area of Thorpe Park over the last 5 years in terms of employment trends? There has been low unemployment Thorpe Park has tackled this by increasing hourly rates. What factors will affect Thorpe Park in the future? Most probably, national trends an example of this there might be a recession and unemployment might increase. Statistics on employment trends external To Thorpe Park Length of service of employees: * Since 1986 the length of service of people at a particular place for 2 years – 20 years was 62%. This figure kept decreasing and in the year 2001 it reached to 56%. * On the other hand people working in a particular place for more than 20 years in 1986 was 9%. Surprisingly this figure increased to 11% in the year 2001. On observing the above stated figure it shows that the latest unemployment numbers for November 2002 to January 2003 continue to suggest that, having been rising for around a year, unemployment is now falling. The unemployment rate at 5.0 per cent is down 0.2 percentage points on the quarter. The latest figure for the level of unemployment is down 73,000 on the quarter to stand at 1.459 million Similarly, on observing the above figure it can be seen that the employment rate continues on an upward trend. Having been rising marginally over the past year, there are low signs that unemployment may be falling, though the decline in the numbers claiming Jobseeker’s Allowance appears to be levelling off. The rate of earnings growth remains subdued. Generally, data are consistent with the output growth shown in gross domestic product (GDP) data in 2002. Overall, the labour market remains largely flat. The rate of GDP growth picked up in the second quarter of 2002 after a weak first quarter, and this stronger growth appears to have continued into the third. The fourth quarter experienced slower growth but was still healthy. The number of people in employment continued to grow steadily throughout the period. Nevertheless, while employment continued to grow, through most of last year the rate of increase was no more than in line with population growth, leaving the trend in employment largely flat from May-July 2001 until recent months. However, the stronger GDP growth seen in the second and third quarters does now appear to be showing up in the employment data. Underlying this is the fact that the labour market tends to lag output: output slows or accelerates first; employment levels adjust later. The latest employment figures for November to January show the working-age employment rate up 0.1-percentage point on the quarter at 74.6 per cent. The 16 and over employment level is up 57 ,000 on the quarter (compared with a 271,000 increase on the year). As a result, the latest trend in the employment rate appears to be upward. 2.1.2 Skills shortages Skills shortage at Thorpe Park: * It seems to be that the entire United Kingdom has a shortage of specialist engineers. * This type of shortage has hit Thorpe Park very hard. * Electrical and mechanical engineers are in short supply and Thorpe Park is looking out by various means to find some. * Thorpe Park reckons that this problem could be resolved because large companies like the airlines make their employees redundant quickly. * Thorpe Park always keeps an eye on the national statistics at a monthly basis to see the latest local labour trends. * They cannot afford to miss out ant potential engineers because engineers are the heart and soul of the company. As they are the ones who form the rides and maintain them for our safety. * But they do find it difficult to recruit staff and at times they have to recruit unsuitable staff and train them. * The company gets highly affected by this, as it has to face many cost implications such as advertising and re-advertising of vacancies. * They then have to train them or send them on apprenticeships to become better and much efficient engineers. * At times they even have to increase their pays to attract them and retain them. 2.1.3 Statistics on Competition for employees external To Thorpe Park Unemployment rates for males and females in the UK Here are some statistics on the unemployment rate for females and males in the UK from the period of 1992 to 2001 A higher proportion of young people than older people are unemployed, and a higher proportion of men are employed than women. 16-17 year olds men who were economically active were 13% unemployed. If you look at a male and female unemployment graph, you can see that 16 – 17 year old males are more out of work than the males. Education has a big factor in this because most people of that age are in colleges. The unemployment rate is again lower for females in the 18-24-age bracket. Still the unemployment rate is lower for females than men in the 25-44-age bracket. Overall the graph shows a lower unemployment rate for females. This is probably due to most females still stay at home. So what would be the level of competition for various types of employment within Thorpe Park? Thorpe Park fined it easiest to fill rides, attractions and shop vacancies then they do catering. 2.1.4 availability of labour (internal and external to the business) What is the availability of labour externally to Thorpe Park? There are restrictions of skills and abilities. If there is a particular skill required for an occupation then the worker will be rewarded with high wages as, for example an engineer. Qualifications and training is required some occupations require people to have specific academic qualifications which can only be achieved over along period of time. The strength of trade unions to negotiate wage levels will depend upon their ability to recruit members. Some occupations are difficult to organize as, for instance, the catering industry. In this industry trade unions have little influence compared with those unions operating in the energy supply industry. Mobility of labour if the labour is immobile it means that in those occupations where there is a skill shortage workers are able to command high wages because the supply of labour is limited. Dirty or dangerous jobs – the supply of labour in some jobs is restricted because of the nature of the job; it might be dirty or dangerous such as coal mining. On the other hand some jobs have very good working conditions and attract labour which keep down wages. What is the availability of labour within the local area and also internally within Thorpe Park for various types of employment? The local area has a 0.6% unemployment level. The workforce is flexible – permanent and seasonal. The labour force by gender and age: Females: * There was a considerable rise in the number of women in the labour force over the last 30 years from 10 million in 1971 to 13.2 million in 2001 i.e. by nearly 24.2%. * Women in the age group of 16years to 24 years started concentrating more on education because of which females in this age group had a low labour force particularly between 1991 and 2001. * On the other hand, females in the age group of 25-44 years had a remarkable increased labour force between 1971 and 2001. However, later the figures remained more or less constant. * Females in the age group of 45-54 years had an increase in labour force between 1991 and 2001. * The females 55 years and over had the figures more or less constant throughout. Males: * The number of men in the labour force has increased much slowly from 16.0 million in 1971 to 16.3 million in 2001. * Men aged over 55 years formed only 13% of the male labour force in 2001 compared to 21% in 1971. * However, the labour force of males between the age group of 25-44 years has increased drastically. * Males in the age group of 45-54 years have increased their force in the labour market between 1991 and 2001. 2.2 Collect internal staffing information about Thorpe Park 2.2.1 Labour turnover The labour turnover is not available the end of November 2001 because the termination of seasonal contracts will be complete at this time. 2.2.2 Labour Turnover (wastage Rate) Dismissals 26/1000 correct at 31.08.01. 2.2.3 Sickness Rates For 2000 2394 seasonal sickness absence Months over 100 April, May, September, October Months over 150 June, July, August Days over 100 Monday, Tuesday, Wednesday, Thursday, Friday Days over 150 Sunday, Saturday 2.2.4 Accidents Rates Unfortunately Thorpe Park would not give us any statistics on accidents rates. 2.2.5 Age demographics The general age rates for various jobs are 89% are 16-24 years of age. 2.2.6 Skills acquired and skills needed The skills and training that are required are: Training: Induction training for all staff and departmental training. Skills: First Aiders only need specific skills. 2.2.7 Training undertaken and training required What is the rate of progression within Thorpe Park? From seasonal cast 14 have been made permanent. 2.2.8 Succession What does Thorpe Park hope to accomplish in the future?. They want to increase their sales through good guest care; this will need high-level training of staff to achieve this. Thorpe Park wants to change their profile of Park from thrill to family bias and they want a high level of guest satisfaction. 2.3 If you look at the length of service of the employees in the UK in 1986,91,96 and 2001 and you look at the dismissals, which Thorpe Park have, you will see that 26/1000 dismals in a year is 2.6% which is lower than the statistics of the length of service of people in employment. For the year 2001 the UK length of service in a year is 13%, which is a lot higher than Thorpe Parks 2.6% of people who leave after one year. The number of people in employment in Thorpe Park is 1000 ad for the year 2000 there were 2394 absences. In the UK the number of employment at about the end was little under 27500. So as you can see there is a very high number of absences at Thorpe Park. They need to improve on these figures I accept most of these absences are from people who are not really ill. It is probably young people from the age group 16 – 24 who have been out the night before and don’t want to come in. In this case Thorpe Park need to be harder on their disciplinary rules to cut ab sences figures. Thorpe Park does not have enough engineers. This is national problem; They could deal with this situation by having more apprenticeships in engineering. The local area around Thorpe Park, which is Staines, has a 0.6% unemployment level. This is good because nationally the unemployment rate for 16-24 year olds is very high. The 16 – 24 age group is the main age group for seasonal staff so nationally the unemployment rate for females aged 16-17 is 16.8% in 2000 and 18-24 is 8.2%. The male’s 16-17 year olds is 20% and the 18-24 year group is 11.8%. So you can see that the area of Staines has very low unemployment compared to the rest of the UK. By having low unemployment it is harder to recruit more staff. The staff they do recruit might not be the sort person they want but because of the low competition of applicants, they might have to train a person up to the necessary standard. 89% of Thorpe Parks employees are 16 – 24 year olds. Due to the rising interest of this age group going to school, college and university I think this has contributed to a decline in the number of people in employment at that age. Thorpe Park do seem to have a good number of employees at this age though . In 2000 nationally in the UK male 16 – 24 year olds there was only 2.7 million of them in employment with a decrease and the same with females with only 2.3 million in employment. So Thorpe Park is doing well to have 89% of 16 – 24 year olds working for them. 2.4 I recommend that Thorpe Park: * Have harder disciplinary rules to stop so much sickness through absences, the rule should be people who are sick can stay at home, but the people who are sick through hangovers must be told to come in or face harsh circumstances. * There should be more apprenticeships for electrical engineers this will help train people and eventually there will be more qualified electrical engineers working at the Park. * They need to increase their customer service training so customers can feel a good degree of guest care. * Finally if Thorpe Park want their Theme Park more family based, then I suggest a new ride for the family 2.5 2.5.1 Engineers electrical and mechanical engineers are in very short supply. Nationally this is the case. What needs to happen is more apprenticeships and training so we can breed more engineers. Also because of the external influence of terrorism on the airlines a lot of engineers are being made redundant or will be made redundant. This won’t help airlines but other companies will then be able to recruit more engineers. Competition for employees is very tight. The labour market remained robust in 2001 with ongoing employment growth. Traditionally the UK has always had high employment. Low unemployment is meaning that employees are increasing wages by over 4%. Currently unemployment is very low about 4.5% nationally that is about 4 people out of 100 is unemployed and the local unemployment is 0.4% which is 4 people out of 1000. Employment is at an all time of 73% and this is an all time high for women. So this makes it more difficult to recruit staff and employers will find it more expensive because of the amount of advertising and training. The Availability of labour can often cause problems; there are usually restrictions of skills and abilities. There might be a particular skill required for an occupation like an engineer. Qualifications and training is required for some jobs and some time gaining the qualification can take a long time to do. Trade unions need a high level of labour to negotiate wages with its members. Mobility of labour if the labour force is immobile then the labour force that is there can try and demand higher wages because the supply of labour is limited. Dirty or dangerous jobs can sometimes alter the supply of labour because of then nature of the job. On the other hand some jobs have very good working conditions and attract labour which keep down wages. 2.5.2 Thorpe Park has apprenticeships and external courses to train engineers. By doing this they will increase the number of engineers, which at the moment is in short, supply. Due to the low unemployment in the UK Thorpe Park have started to recruit people from abroad to increases their amount of staff, which they will need to do due the Park expanding in size. Thorpe Park is situated in Staines, which is the South East of England, which has the lowest unemployment in the UK. So Thorpe Park are finding tit hard to recruit in the local area that’s why they are expanding recruit aboard. Also I think that Thorpe Park are maybe hoping to bring a different culture to Thorpe Park like Disney World have in America there have kept there Theme Park American but adding some different cultures to the mix. Thorpe Park has offered training schemes through NVQ’S and apprenticeships and other external training courses. Due to the immobile labour of engineers, engineers at Thorpe Park can demand higher wages due to they are in demand and they are very important to the business. Also fixing Theme Park rides does have the possibility of being quite dangerous like possible the loss of a finger etc. On the other hand labour might be attracted to Thorpe Park due to the their good working conditions. They must have good working conditions due to their nature of the business and because the health and safety act states it should, so it is a legal requirement any way. 2.5.3 Over the past 50 years the UK has seen migration rocket. Thorpe Park is also trying to develop this by encouraging people to migrate and work at Thorpe Park. As people become wealthier they want more leisure time this relates to when youngsters go out the night before and then don’t come to work in the morning because perhaps they are too tired or probably got a hangover one of the two. Labour market trends show that most 16 -21 year olds that studied at school, college or university often get a weekend job or an evening job and student placements from say universities. This is who a lot of the seasonal Thorpe Park staff are usually. Due to the low unemployment Thorpe Park has increased its hourly wage. If you analysis national figures on the length of service of employees in the UK you will see that in 2001 people who have been in work for over a year 13% of them leave, compare this Thorpe Parks 2.6% dismals record and you will see that employees at Thorpe Park do tend to stay on for much longer. If you look at the number of people in the employment graph you will see that there is 27500 and Thorpe Park only have 1000 so I suggest that due to Thorpe Parks ambitions to expand the Park in size they will need to expand their employment figures in size. If you look at the unemployment rates nationally you will see that for females aged 16-17 is 16.8% in 2000 and 18-24 is 8.2%. The male’s 16-17 year olds is 20% and the 18-24 year group is 11.8%. All those percentages are lot a higher than the Staines local area unemployment rate which is 0.6%. This proves that there are less people to employ in Staines than the national average. In 2000 nationally in the UK male 16 – 24 ye ar olds there was only 2.7 million of them in employment with a decrease and the same with females with only 2.3 million in employment. So Thorpe Park is doing well to have 89% of 16 – 24 year olds working at Thorpe Park. Task 2- Conclusion I think Thorpe Park do have a successfully human resource plan in relation to the format given in my textbook. Why because the staffs is properly qualified to do the job allotted to them. Also Thorpe Park does use the process of human resources very effectively. Then do this by carry our the 4 main stages which are: Stock taking an example of this is job analysis Forecasting the supply of labour an example of this is annual labour turnover index Forecasting demand for employees Implementation and review Task 3: Recruitment and selection. One of the most important jobs for the human resources manager is recruiting and selecting new employees. Without the right employees, the organisation will be unable to operate efficiently, serve its customers properly, or make any profits. With the proper recruitment and selection techniques, organisations can make as sure as possible that they can achieve these objectives. In the recruitment and selection procedure generally the following procedures: > Giving a job description > Preparing an advertisement for the job > Application forms > Short listing candidates > Person specification > Psychometric/diagnostic tests > Interviews and cross checking the candidates > Offer and rejection of the candidates > Contract of employment > Staff handbook 3.1 > Person specification: A person specification sets out the qualities of an ideal candidate whereas a job description defines the duties and responsibilities of the job. The best-known method of drawing up person specifications is the ‘SEVEN POINT PLAN’ originally devised by Alec Rodger. Following is an example of the seven-point plan: Essentials Desirables How identified Physical (this includes grooming looks, voice tone etc) Attainments (this includes the educational qualifications and experience) General intelligence (the results from the IQ tests) Special aptitude (the special skills of the person) Interests (their hobbies and their social life) Disposition (the stability of the person) Circumstances (the personal life of the person) Rodger’s seven-point plan usually requires managers to distinguish between essential and desirable qualities under each of the seven headings. > Job description: Before an organisation goes in the recruitment process, it needs to examine the job description for the post. A job description lists the main tasks required in a job. In drawing up a job, description the personnel department has a number of alternatives. These are: 1. The line manager can draw up a description of what the job entails. 2. The existing jobholder can do it. 3. The human resource manager can interview the jobholder and the line manager to find out what the job involves. The aim of the exercise is to itemise all the tasks involved in a job and to try to allocate a proportion of the working week to each task. This is important for several reasons: 1. In carrying out appraisals of the employees. 2. When analysing the job for training needs the manager must be able to see what tasks a job involves so that they can determine what training may be required. 3. For pay determination. 4. In planning the size of the work force for the future, it will be necessary to know exactly what tasks each job involves in case the re-allocation of tasks between jobs is requires. Clearly, none of this is possible without good quality and detailed job descriptions. The main features of a job description are: a) The job title b) The location of the job c) A brief outline of what the organisation does d) The main purpose of the job e) A detailed list of the main tasks required in the job f) The standards that the job holder will be required to achieve g) Pay and other benefits h) Promotion prospects i) The person to whom the job holder reports j) The person who reports the job holder > Application form: This is a far more commonly used mode of selection. Consultants devote hours to designing new and better forms that will extract even more accurate information from people. A typical form will require details on addresses, next of kin, education, training, qualifications, work experience, non-work interests (hobbies and social life) and the name of referees from whom the organisation can collect personal recommendations. The personal staff will have identified specific requirements from the job and person specification. They can compare these with the information on the forms. They only need to shortlist the applicants who have met those requirements. The forms can act as a framework for the interviewer to use should the applicant be short-listed. The organisation can keep all the forms for the short listed candidates for the vacancy and draw on them again if another vacancy arises. The form from the successful applicant will become a very useful part of their initial personal records. > Prepared advertisement: Unless an organisation pays a recruitment consultancy or an executive search consultant to find potential recruits, it will have to design its own advertisements to attract people. Specialist consultancies have sophisticated advertising departments that place large and expensive adverts in quality press. Most businesses, however, will not have such facilities and they will have to draw up their own advertisements. Before writing the advertisement, the employer must determine exactly what is wanted from the job being advertised. When drafting the advertisement the key points to consider are: i. Describe the job that is being advertised ii. Describe the type of person that is required for the job but have to be careful because it is illegal to state the sex, ethnic origin of the person required. iii. The pay and the terms and conditions iv. Place of work v. Procedure as to how the candidate can apply for the job vi. Be honest about the job being advertised, it is no use to give an over attractive picture. vii. Find the right place to advertise the job. > Psychometric/diagnostic tests: Now days it is common for employers to expect job applicants to carry out tests to give a fuller picture of their ability to do the job applied for. These are usually referred to as aptitude tests. They are appropriate for manual work where there is some skill involved and in office work where applicants be required to take a short typing or word processing test. For professional posts, these tests are less usual because it is felt that the candidate’s qualifications, references and experience are sufficient evidence. Psychometric tests assess the intelligence and personality of applicants. They are much more sophisticated than aptitude tests and the employer must have properly trained staff to analyse the test results properly. Such tests are particularly valuable when assessing intelligence, interest in the job applied for, motivation and personality. The producers of such tests argue that they are completely unbiased and extremely accurate. They are supposed to be particula rly good at assessment of personality. > Interview format/techniques: This is the final stage of the recruitment and selection and is increasingly common these days. Interviews are arranged for almost every kind of job. The process of shifting through forms or letters and examination of references is now over and that only a few of the applicants for the job will be interviewed. This is because interviews take up the time of senior managers who have to carry them out and this will be costly for them. Interviewing is sometimes done in a poorly thought out and badly structured manner that gives the organisation a bad image. To avoid this situation only requires the observation of a few simple rules: 1. Plan the interview properly. 2. Decide if there is a need for any tests for the applicant. 3. As a rule, the ‘talking split’ in the job interview should be around 20% for the interviewer and 80% for the interviewee. 4. The interview should always begin with friendly questions to put the candidate at ease. 5. Finally, there should be a question asking the candidates if they have any questions. > Offer and rejection letters: These are the crucial moments in the life of a job applicant. His fate for the particular is decided in these letters. It is very easy for the interviewer to say yes but in order to send a rejection letter they have to be polite and gentle as it should not let down the applicants desire for another job. Usually it is common to wish good luck to a candidate for his future jobs in a rejection letter. > Contract of employment: Terms and conditions of employment which apply generally or to groups of employees need to be defined in the contract of employment as described below: 1. Individual contracts of employment must satisfy the provisions of contracts of employment legislation. They include a statement of capacity in which the person is employed and the name or job title of the individual to whom he or she is responsible. They also include details of pay, allowances, hours, holidays, leave and pension arrangements and refer to relevant company policies, procedures and rules. Increasing use is being made of fixed-term contracts. 2. The basic information that should be included in a written contract of employment varies according to the level of job, but the following checklist sets out the typical headings: * Job title * Duties to be performed * The date when the employment starts * Hours of break including lunch break and overtime and shift arrangements * Holiday arrangements * Sickness leave * Length of notice due to and from employee * Grievance procedure * Disciplinary procedures * Work rules * Arrangements for terminating contract 3.2 As mentioned before Thorpe Park has seasonal staffs and permanent staffs. Therefore, for different staffs different procedures and documents are crucial. Lets have a look at these in detail: 1. Seasonal staffs: Thorpe Park has a seasonal staff of over 1000. Such a large number of seasonal staff is very difficult to select and handle. Therefore, in order to make the right decision in selecting the desired seasonal staff they would need to have a proper and well-prepared advertisement. After the advertisement, they would need to have an application form that is very essential because it helps to have a general/detailed outlook of the applicant. As Thorpe park has a large number of seasonal staff they need to have an interview checklist so that they can grade/rate the candidates on the basis of the same questions asked to everyone and that there is no kind of discrimination made during the interview. After all this a contract of employment is very essential for everyone who is employed as it proves that the person is legally employed and that he/she is aware of their duties etc. 2. Permanent staffs: As stated before Thorpe Park has permanent staff of nearly 350 members strong. Permanent staffs do have more authorities and responsibilities than the seasonal staffs. Therefore, the recruitment manager has to be even more careful in advertising and hiring these staffs. Therefore in the initial part a job description; person specification, prepared advertisement and an application form are very crucial and essential because they help in attracting the required candidate. After this, the interview and the psychometric/ diagnostic tests are essential because they help the recruitment manager to know the candidates more carefully. Finally the staff handbook and the contract of employment are helpful to the selected candidate in knowing something more about his job, benefits etc. 3.3 For seasonal staffs: > The advertisement for seasonal staffs is very good and impressive. It can really work towards attracting applicants. However, apart from stating the pay rate if they could also state the words â€Å"plus extra benefits† that could make the advertisement even more exciting. > The application form could also be improved. For instance, on page 2 the applicant is asked about the previous employment history. In this section is a question on the position of the applicant’s job but there is no question about the duties performed by the applicant in the previous job. > The questions asked in the interview checklist are good and can really make the candidate think before they can answer. However, as the number of applicants is going to be very large there would not be sufficient time to ask all the questions to all candidates. Therefore, it is recommended that there should be less questions but straight to the point. > The contract of employment does not state as to how the payments are going to be made – by cash, by cheque or it is going to be deposited into the respective account. For permanent staffs: > The advertisement for the permanent staff is very good and impressive as well. It can really work towards attracting applicants. Again, apart from stating the pay rate if they could also state the words â€Å"plus extra benefits† that could make the advertisement even more exciting. > On the application, form where it is asked to state the employment history there is very little or rather no place to state the responsibilities that the applicant had carried. This could be very crucial information for the company is selecting the desired candidate. 3.4 Analysis of the documents: > Job role: The job role prepared by the company is fantastic and much organised. They have the desired pre planned in their minds and are just waiting for its arrival. The desired qualification of the person is deeply planned and thought through. > Advertisement: The advertisement is good but not up to the mark. After having a look at the job role a person would expect an even impressive advertisement. Though the desired details are placed in the advert there are still a few things missing that make it more attractive as if the payroll could also include extra benefits and more facilities etc. > Application form: Again it is well organised and planned but the place for the crucial information is not provided for e.g. the employment history does not have any place for responsibilities held etc. Task 4 – Training and Development: Introduction: A general definition of training is: ‘the acquisition of a body of knowledge and skills which can be applied to a particular job’. Traditionally, young people left school and found a job that provided them with sufficient initial training to enable them to continue to do the same job indefinitely. Today there are very few ‘traditional’ apprenticeships and people can no longer assume that any job will be a job for life. Even people who do keep the same job for a long time are required to update their skills regularly, or face redundancy because their old skills are rapidly made useless by the advance of new technology. The significance of this is that training is much more central to peoples lives as an ongoing process rather than just something they do at the start of their careers. > Induction training: Induction is the process of introducing new employees to the organisation and its way of life and culture. A successful job applicant should be provided with induction training of some kind. As might be expected the larger, well-resourced organisations do this more thoroughly than poorly resourced, smaller organisations. Most of the induction programme will include: * A tour of the buildings to show the newcomer all the important areas – the sick room, the canteen, the pay office, toilets etc * An introduction to their new workplace – the specific office or factory areas or shop department – where they will be working * Some background details about the organisation – the easiest and best way to do this is to show them a video. > Mentoring: This a type of training where an experienced senior manager is allocated to a young employee in order to help them to structure their career development within the organisation. The mentor passes on the benefits of their experience, insight and wisdom. They will advice the young employee how to deal with a wide variety of managerial problems but they are not there to help them to improve specific skills. > Coaching: This is rather similar to mentoring but the key difference is that coaching involves helping the young employee to acquire high quality skills in a number of specific management areas. Such skills include communication with staff, budgeting, how to appraise staff and how to carry out disciplinary procedures. > Apprenticeships: The main principles of apprenticeships are: 1. Qualifications are workplace based, reflecting real workplace needs. 2. Workplace requirements are now a far bigger influence on what is taught in further education colleges. 3. The single European market means that these new qualifications will eventually become part of a common system of the Euro-qualifications. Apprenticeships usually include NVQ’s, GNVQ’s, Vocational A levels etc. Usually the company pays for such type of education for its budding employees. > In-house training: This is where the employers run courses inside their own organisation. Courses might be held in an ordinary office room or in a smart training centre owned by the organisation itself. The main benefits of using in-house courses are: 1. They are cheap – there is usually no need to employ outside trainers and lecturers. 2. Course content is tailor made for your organisation. 3. References and examples to highlight points can be related to your own organisation. 4. Everybody knows one another, so there is no time wasted in having to get to know other people. > External training: Sometimes it is necessary to send staff to do courses elsewhere. This may be with another employer, at a specialist-training centre, or at a factory of an equipment supplier. The benefits of using external courses are: 1. They bring together specialist trainers/tutors who would never be available to an ‘in-house’ course chiefly because of the high cost. 2. Course members get together from several organisations, and this enables them to learn more about each other and how their respective organisations operate. 3. Trainers place great value on the benefits of being away from the workplace – the course members are in a comfortable and peaceful environment away from any distractions. Findings: At Thorpe Park, there is a separate training sub-department within the Human Resource department. In fact, they also have a special training manager for this purpose. To begin with, let us have a look at the induction programme which is also known as ‘ice-breaker’. > Thorpe Park has two days of induction programme. The day one covers the introduction to the Tussads group, the park structure – the who’s who and where’s where, the parks health and safety issues, the uniforms and appearance of the staff, explanations of the rules and regulations, the role play situations, fire safety, emergency procedures and other general information about the park. > The day two covers the department specific training. This means that the staffs is taken to their respective departments and are given the general overall outlook of their duties and the department. After the induction, there is the personal development programme. This is not actually a training programme but is a process where the applicants are given an opportunity towards their plans in education and with the company. In this programme, the members of staff complete a PDP form, which will enable them to access their areas for improvement/development and look at ways to move forward. Other methods of training in Thorpe Park like the mentoring help the members of staff towards personal development. Besides these, Thorpe Park also offers apprenticeships like the NVQ’s for the members of staff. Across the park, they have people studying for NVQ’s in business administration, landscaping and engineering. Most of the trainings are provided to the permanent staff only. The external courses are used for legislation and development training only. Thorpe Park is known as investors in people. They have got this recognition not by spending money on the entertainment of people but by spending money on improving the quality of their staff by training them, sending them for apprenticeships and by helping them in their personal development. Training is important for the company to improve the competence of the cast and ensure the delivery of a high quality service. Recommendations: > Training is a very important part for a new candidate. Besides providing training to the permanent staff, if the company provides training to the seasonal staff as well then this may help to make the seasonal staff into permanent staff. Hence, the company will be able to save its money on advertising for the permanent staff. > If training sessions are provided to the seasonal staff, this may motivate them and the effect will show on the profit charts. Task 6 – Performance Management Introduction: Frederick W. Taylor: Frederick W. Taylor wanted to find out how people could work best, who was suited to what and to show them how to work more productively with less effort and danger. After all, he was working in a steel plant. Taylor set out four principles of scientific management. They were as follows: > Development of science to replace thumb methods > Scientific selection and progressive development of workmen > Bringing together of science and scientifically selected workmen through the inspiration of an individual > The dividing off of management away from the workers There are many managers today who would find nothing exceptional about Taylor’s words that also include a reference to leadership, something he sees as beyond scientific management. His results were incredible. Abraham Maslow: Until Abraham Maslow’s work, researches looked for what motivated people. Maslow’s answer is that it depends upon the situation of the individual. He therefore prepared a table of hierarchy. This hierarchy theory can be of help also in understanding cultural issues in motivation. Multi-nationals need to learn that what motivates someone in Bangkok may well be different from what motivates people in San Francisco. Douglas McGregor: According to McGregor, there are two alternative views of the nature of man: Theory X – Used to illustrate what he considered being the â€Å"traditional view of direction and control† 1. The average human being has an inherent dislike of work and will avoid it if he can 2. Because of the human characteristic of dislike of work, most people are coerced, controlled, directed, threatened with punishment to get them to put forth adequate effort towards the achievement of organisational objectives. 3. The average human being prefers to be directed, wishes to avoid responsibility, has relatively little ambition, and wants security above all. He also felt that these assumptions were used in most industrial organisations, but that they were in adequate for the full utilisation of each worker’s potential. McGregor’s other view of the nature of man i.e. Theory Y contains assumptions, which he believes could lead to greater motivation and increased fulfilment of both individual needs and organisational goals. 1. The expenditure of physical and mental effort in work is as natural as play or rest. 2. External control and the threat of punishment are not the only means for bringing about effort toward organisational objectives. 3. Commitment to objectives is a function of the rewards associated with their achievement. 4. The average human being learns under proper conditions, not only to accept but also to seek responsibility. 5. The capacity to exercise a relatively high degree of imagination, ingenuity and creativity in the solution of organisational problems is widely, not narrowly distributed in the population. 6. Under the conditions of modern industrial lie, the intellectual potentialities of the average human being are only partially utilised. Frederick Herzberg: Frederick Herzberg distinguishes between hygiene factors – those that will not increase motivation as such but will certainly decrease it if standards are not right and motivating factors. Hygiene factors include working conditions, salary, job security and company policies. Get these wrong and motivation will decline but add to them over a certain standard and there will be no more effect on motivation. Herzberg says that motivation derives from people having a sense of achievement, recognition, responsibility and opportunities for personal growth. He criticises management for ignoring the motivational factors and trying to motivate through things like money and benefits – expensive and not successful. He is also famous for his acronym â€Å"KITA†, which has been potentially translated as a kick in the pants. He says that KITA does not produce motivation but only movement. Findings: 6.1.1 Performance reviews including appraisals: Thorpe Park carries out regular appraisals with its company staff. The company to usually carries this out so that the management can evaluate as to how effective the staff are in fulfilling the objectives of the company. 6.1.2 Self evaluation: Besides the appraisal system the staff, members also have the opportunity to see and say as to how they think they are progressing and what places they need improvement. They can also recommend the areas where they would need some training or extra guidance. 6.1.3 Peer evaluation: Peer evaluation is not a formal method of performance evaluation but it can really help in the improvement of the staff if their work mates tell them what is required and when. 6.2 The management at Thorpe Park believe that it is very essential to motivate its staff so that they have a high morale and that they completely enjoy the work that they do for the company. They recommend the staff the areas where they think they could improve and send them for training. They do so only for the deserving staff members so that they can make them feel that they are important for the company. This is a very effective way of motivating the staff. Besides these, they have other methods of motivating staff like bonus schemes and other incentive schemes. Throughout the year, the company runs competitions like â€Å"magic moments† and â€Å"magic minds† that help the staff for not only performing good in their work but also motivate them to use their brains to help the company improve and progress ahead. There are grand prises for people who give good ideas to the company to improve their outlook. Besides the financial incentives, the company also has many non financial methods of motivating the staff for e.g. giving the staff member a public acknowledgement, sending them for further education, praising them for the job well done etc. all these do play an important role in motivating the staff. The human resource department does all this because they believe that the staff are the backbone of the business and hence want to use them as an asset to obtain their goals and objectives. 6.3 On taking a closer look at the way the management at Thorpe Park functions it can be stated that they use a little of every motivational theory in trying to motivate their staff. The reason behind this could be that different things motivate different people.