Contemporary Issues in Strategic Management - Free Essay Example

Sample details Pages: 4 Words: 1213 Downloads: 2 Date added: 2017/06/26 Category Management Essay Type Narrative essay Did you like this example? Contemporary Issues in Strategic Management In the fastest changing world where the competition become high among businesses there no one can deny the importance of strategic management which engross the making and implementation of goals and the steps taken by top management of the company on the behalf of their owners. It is totally based on the contemplation of the available resources and it also helps to assess the external and internal environment which helps the organization to compete with others. There are five competitive forces which can influence the organization and can give competition; those five factors can be the bargaining power of suppliers and customers, threat of new entrants in the market, and threats of availability of substitutes in the market. All these factors can give tough competition to the organization. And to tackle this kind of situation an organization needs to have a strong strategic management because it helps to identify the proble m as well as provides direction to the organization and helps the organization to be specific towards their goals. It helps the organization in developing the policies which can give guidance to the organization what they have to do to compete with their competitors (Daghfous et,al 2009). Organization can also plan designs with the help of strategic management to attain their objectives and also helps the organization in allocating the resources within the limited time and also helps the organization to implement the plans. In short strategic management facilitate the organization to deal with internal environment and external environment which includes suppliers, customers, competitors etc. Globalization plays a vital role in discharging the borders among many countries, and turned the whole world into a village. But the question is has the globalization is benefiting the countries in the economic stability? Has the globalization influenced the UAE economy positively or negative ly? Answer to this question can be getting by observing the growth and development of the UAEà ¢Ã¢â€š ¬Ã¢â€ž ¢s economy. The globalization has turned the UAE into the most development countries in many fields especially economically. No one can deny the important role of globalization and its effect on the UAEà ¢Ã¢â€š ¬Ã¢â€ž ¢s economy (Wilkins 2010). It has affected positively affect the UAE policy because it helped the country to increase their overseas or foreign investment and also encouraged to promote the free trade between UAE and the other countries of the world. There was a survey conducted in UAE in the year 2005, according to that survey the flow of foreign direct investment in UAE achieved the record was about 10 US $ billion close to 34% of total flow of foreign capital in the Arab world. And this happened because UAE is politically established, and they maintains rights of working for businessmen and entrepreneurs, these working rights allows them to sale, do the business and rent effortlessly without government intervention and taxes imposing on their products, services and revenues. They have issued licenses to the foreign firm branches and the rates of issuing licenses to foreign firms are increasing yearly. Many foreign got this business license. Foreign countries that got business licenses include UK, India and America. In the view of fact that the world has turned into a small village because of globalization, it makes simple to other countries of the world to know about and get the information about the economic conditions and merits that UAE grants for foreign businessmen. Because of foreign investment there is a notable increase in the UAE economyà ¢Ã¢â€š ¬Ã¢â€ž ¢s capital stock (Rettab, et, al, 2009). The high capital stock enabled UAE to have tools and structures to produce. Consequently productivity has increased extensively, and in result the growth of the economy of UAE and the living standard of the people has also increas ed. Globalization has also encouraged the domestic investment of the UAE. In global capital markets UAE has a vital role with many investment institutions, such as Dubai port, Abu Dhabi investment council, Abu Dhabià ¢Ã¢â€š ¬Ã¢â€ž ¢s International Petroleum Investment co. The huge increase in the domestic investment of UAE is because the globalization has permitted UAE to deal and do businesses with other developed countries such as UK and USA and also helps UAE to learn that shortcuts to the fastest growth rate are savings and more investment (Wilkins, 2010). There is a debate for some people that more investments and savings can cause the availability of resources for the consumption goods production. Though it can be stated that todayà ¢Ã¢â€š ¬Ã¢â€ž ¢s investments and savings will help to increase the production in the future and UAE can enjoy living standard in future. In the last investment can be define as the path towards the futures which will be bright. UAE is the w orldsà ¢Ã¢â€š ¬Ã¢â€ž ¢ preferred trade hub. According to Bank Doing Business Report ranking the UAE is on the 5th place for the trading across borders or worlds wide. And it is very important for the growth of international trade. Doing business is an important economy activity for UAE which no one can compete in globalized economy and results in increase of the exports worldwide (Al-Fawaz, et, al, 2009). UAE is taking benefit from its competitive advantage as they are trading and improving the competency of trade procedures. It has an online and independent trade network which is extremely flourishing in assessing trade of goods as well as services. Their aim is to make trade faster, low cost or cost effective and easier for the foreign businessmen as well as domestic businessmen to improve the business process with the help of advanced technology. In UAE due to globalization the development of global trade has improved in last few years. This helped UAE in improving their infrast ructure and also helped them to increase their GDP (Hvidt 2009). Trade has become important part for any countryà ¢Ã¢â€š ¬Ã¢â€ž ¢s economy growth and development. They need to trade across borders to trade internationally but many countries are having political instability which is a big hindrance in the way of economical growth because foreign countries will not allow their countries to trade with those countries that are politically instable. Another competitive advantage of UAE trade is that they have low trade barriers because of their political stability and the world prefers UAE for trading and business. References: Daghfous, A., Barkhi, R. (2009). The strategic management of information technology in UAE hotels: An exploratory study of TQM, SCM, and CRM implementations.Technovation,29(9), 588-595. Retrieved from https://www.sciencedirect.com/science/article/pii/S0166497209000765. Rettab, B., Brik, A. B., Mellahi, K. (2009). A study of management perceptions of the impact of corporate social responsibility on organisational performance in emerging economies: the case of Dubai.Journal of Business Ethics,89(3), 371-390. Retrieved from https://link.springer.com/article/10.1007/s10551-008-0005-9#page-1 Al-Fawaz, K., Eldabi, T., Naseer, A. (2010). Challenges and influential factors in ERP adoption and implementation. Retrieved from https://v-scheiner.brunel.ac.uk/handle/2438/4361 Hvidt, M. (2009). The Dubai model: An outline of key development-process elements in Dubai.International Journal of Middle East Studies,41(03), 397-418. Retrieved from https://journals.cambridge.org/action/displayAbstract?fromPage=onlineaid=5899680fileId=S0020743809091120 Wilkins, S. (2010). Higher education in the United Arab Emirates: an analysis of the outcomes of significant increases in supply and competition.Journal of Higher Education Policy and Management,32(4), 389-400. Retrieved from https://www.tandfonline.com/doi/abs/10.1080/1360080X.2010.491112#.U5H CQXKSwqM Don’t waste time! Our writers will create an original "Contemporary Issues in Strategic Management" essay for you Create order

Benchmarking - 1075 Words

Chapter 1 – Mass Communications: A Critical Approach Culture and the Evolution of Mass Communication * Culture * can be narrowly associated with art – forms of expression such as music or painting that provide enlightenment or insight * can also be viewed as a broader category that includes the entire spectrum of ways that people express themselves at particular historical times * including art, beliefs, customs, games, technologies, traditions, and institutions * it also encompasses modes of communication * the process of creating symbol systems that convey information and meaning * is made up of the products a society makes and the processes that create those products * can be†¦show more content†¦* In this model there are: Senders –gt; transmit mass media messages –gt; through a mass media channel –gt; to the Receivers * This model also includes gatekeepers who act like filters A Cultural Approach to Mass Communication * Individuals and societies bring diverse meanings to messages – based on factors such as gender, age, educational level, ethnicity, and occupation – that affect how they perceive information and the media. * Audiences seek messages that reflect their own ideas and values, a phenomenon known as selective exposure The Stories Media Tell * As its most significant level, mass media and its stories can influence an entire society or nation’s perception of events The Impact of Media in Everyday Life * The ancient Greek scholar Plato created what became known as the classical view on art: art should instruct and uplift people but not glorify evil. * Today, advancements in technology, particularly the Internet, have allowed culture to grow and spread quickly, causing public outcry over the quality and content of information and messages available. Culture as a Skyscraper * High culture * ballet, classical music, art museums, classical literature * â€Å"good taste† * generally supported by highly educated people and those with money * Low culture * rock music, comic books, and video games * culture of the â€Å"masses† * popShow MoreRelatedImplementation Of Benchmarking And Benchmarking Process1309 Words   |  6 PagesIII. Implementation of Benchmarking Most business analyst and experts caution that there is no one benchmarking process that will work for every company. However, there is a general process that can be utilized by all companies to complete a benchmarking process. A preliminary step that must be completed before any benchmarking process is that a company and its executives must first admit that there may be someone else who actually does the operations or process with which their company is involvedRead MoreBenchmarking Analysis : Benchmarking Your Processes2206 Words   |  9 PagesBenchmarking your Processes One region where external Benchmarking can convey a positive commitment to enhanced execution is by looking at how you deal with a specific procedure against how that process is overseen in different organizations, especially those that are esteemed to exceed expectations in that specific zone. Be that as it may, Benchmarking ones courses of action is more than a site visit to observe around and ought to be organized in such a route as to convey unmistakable resultsRead MoreAdvantages And Disadvantages Of Benchmarking1340 Words   |  6 PagesBenchmarking The advancements in business in the last several years have led to the necessity for providing the best possible products to consumers. Globalization has created the opportunities for customers to look outside the local market to quickly and easily purchase desired products and services. These events have made it increasingly vital for the use of benchmarking. â€Å"Benchmarking is defined by Camp (1989) as a process that allows an organization to increase its performance by comparingRead MoreBenchmarking Analysis : Benchmarking And Benchmarking Essay759 Words   |  4 PagesBenchmarking Most business processes are similar throughout industries. However, their performance varies from one company to another. To analyze these differences and to see how well they are performing compare to other businesses, companies use a technique called benchmarking. Benchmarking has become popular and allows decision makers to continuously improve the quality of their product or service. This paper, besides providing a review of the types of benchmarking, will discuss an area of aRead MoreEffective Management And Effective Performance Measurements Essay1731 Words   |  7 Pagesprocess, the benchmarking is an effective tool. Benchmarking is a process of identifying superior performance or practices of other organizations or projects and to internalize such knowledge for competitive advantages (James R.Evan.1997). Benchmarking is a learning process to find better ways of doing things. It is a management process that requires constant updating whereby performance is regularly co mpared with the best performers that can be found. The key philosophy of benchmarking is the abilityRead MoreBenchmarking - Essay3165 Words   |  13 PagesBenchmarking is the process of comparing ones business processes and performance metrics to industry bests and/or best practices from other industries. It is recognised to play a major role in developing and monitoring the business strategy, and therefore achieving a competitive advantage in the industry. However Andrew Campbell has suggested there is a problem in benchmarking as it can be valuable but can also mislead and distract; therefore â€Å"it can prevent managers from focusing on what is uniqueRead MoreCriticism of Benchmarking897 Words   |  4 PagesCriticisms of Benchmarking Despite all of the positive recommendations for benchmarking cited, there are critics of the benchmarking proces. Wolverton (1994) states that benchmarking, as a cornerstone of CQI, is based only on current information, and may not give us the freedom and flexibility to see the future. In addition, Wolverton adds that this focus may relegate us to the role of follower, instead of leader. In writing about a related quality improvement technique, Business Process ReengineeringRead MoreThe Use of Benchmarking for Blackberry527 Words   |  2 PagesBenchmarking, in my opinion is one of the most successful approaches to remedy a struggling company. Many times organizations are caught in the trial and error process without having any successful progress. According to Summers (2009), â€Å"Effective organizations use benchmarking to compare their key measures of performance with those of others in order to determine where improvement opportunities exist.† (p. 291).If we compare a pa rticular area in which the company is struggling to a company thatRead MoreAutomotive Benchmarking1215 Words   |  5 Pagesmatch the manufacturing cost and quality of the best if were focused on doing what needs to be done (Buss, 2005). We have to figure out how to share it - how to capture whats going on that is right and move it around to all the other plants, benchmarking and sharing stuff off the shelf (Buss, 2005). One thing many automakers have accomplished over the years is empowering the employees all the way down the chain. Boag and Chrysler have been able to use ideas from their employees in order toRead MoreBenchmarking at Xerox4503 Words   |  19 PagesXEROX - THE BENCHMARKING STORY Source link: http://www.icmrindia.org/free%20resources/casestudies/xerox-benchmarking-5.htm The case examines the benchmarking initiatives taken by Xerox, one of the world s leading copier companies, as a part of its Leadership through Quality program during the early 1980s. The case discusses in detail the benchmarking concept and its implementation in various processes at Xerox. It also explores the positive impact of benchmarking practices on Xerox. Benchmarking

Comparison contrast Essay Example For Students

Comparison contrast Essay The original organization in professional boxing, was the World Boxing Association (WBA) which can be traced back to the original National Boxing Association (of the United States), which was organized in 1921, the first fight recognized by the organization being the Jack Dempsey-Georges Carpentier Heavyweight title fight in New Jersey. The world at the time was recovering from a war, and many athletes had joined the military to defend their colors, so boxing became a way for many to entertain themselves. Promoter Tex Rickard, an NBA icon and the Don King of his day, helped to put some of the NBAs title fights, many of which made history. But Rickard died unexpectedly in 1931 of appendicitis and the NBA had to rely more on their champions ability to make themselves household names. By then, the great and legendary Joe Louis was approaching his championship years, and he won the Heavyweight title in 1937, holding it until 1949, and taking the NBA and boxing through another war. The fact Louis and many other champions joined the war and often came back to the United States to defend their titles made NBA boxing champions look even more heroic and patriotic. Boxing became more and more popular with the advent of TV during the 1950s, the homecomings of many fighters and the appearance of many new, young talented fighters. In 1962 the NBA, faced with world changes after World War II and the Korean War, and with the growth of booings popularity world-wide, changed its name officially to WBA, or World Boxing Association. Through the years, many competitors who also recognized world championship competitions sprung, and in that line, the WBC started out in 1963, the IBF in 1983, the WBO in 1988, and nearly a dozen others.

The Experience of Nature and the Formative Process in The Prelud free essay sample

William Wordsworth and Edward Blunden use poetry to present the experience of skating in a vivid way through the use of powerful imagery and personification of nature. While there are many similarities that link both poems there is a contrast which is mainly in the form of the darker tones and impending danger in Blundens The Midnight skaters. Both the prelude and the midnight skaters describe skating but represent it in completely contrasting ways, although they both describe an exhilarating, exciting feeling. In the prelude you feel the energy and excitement and also the sadness that Wordsworth feels as we were all children once, this is accomplished by the use of imagery throughout the poem, he begins with imagery to do with winter, such as frosty and suggests the end of a winters day. Images of warmth, such as blazd and the sun contrast this. The use of words like wheeld, hissd, flew and rapture creates the excitement and enjoyment of the boys. We will write a custom essay sample on The Experience of Nature and the Formative Process in The Prelud or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Wordsworth makes it seem as if the humans are animals running through the woods, the skaters are shod with steel like until horses. At the end of the poem, he describes a vivid image of the sunset; the orange sky of evening died away. The midnight skaters, however, has a darker tone, this is achieved by the personification of death. Death himself is a very sinister character this is accomplished by the use of the word he and the description of how he hates them through the glass. Blunden, like Wordsworth begins with imagery, such as the icy pond and black bed which represents the darkness throughout the poem. The use of words like lurks, black and hate creates a feeling of impending danger which is used all through the poem. In the first stanza, the sense of danger is less apparent than in the following two, yet it is there from as early as the second line; the icy pond lurks under, this suggests that the pond isnt what it seems, which are explained further in the rest of the poem.The time at which Blunden wrote the poem is greatly significant. Having fought in the first world war, he was living in a time of great suspicion. Even at a simple, happy event like skating death could be lurking around the corner. The scene of skating can represent a battlefield itself, the skaters represent the soldiers, who were mostly very young and still naà ¯ve like the children skating; What wants he but to catch earth heedless sons and daughters. The secret waters representing the enemy and death and the ice shows how close the soldiers were to die but how they didnt even realize. The prelude is nostalgic as Wordsworth experiences the intense feelings of happiness that childhood brings when he is playing with his friends in the woods. It is also about the end of his childhood, and the end of the freedom he has, it is beautiful but yet sad.