Essay on Course Project Decision Management 530 - 3595 Words

Deciding how to Market Royale Resort Hotel Product offerings in a Competitive Market. (Course Project) Bisi O. Thomas DeVry University - Keller School of Management. Professor – Victoria Ashiru Managerial Decision-Making (MGMT530) May 15, 2013 Table of Contents Executive Summary 3 Problem Statement 5 Since the stakeholders revokes their contract with Regale Properties whose str market?† ategy is to host the city’s festival as marketing strategy to launch the hotel product offerings into the market and prefer moving into franchise with Marriott for best reasons known to them. The decision problem becomes â€Å"How do we better position and market the hotel product offerings into the mature competitive To better define the†¦show more content†¦Preparations are in top gear with all hotel rooms booked, advertisement and publicity in place, invitations send out to special guests while mementos and brochures already printed. The stakeholders suddenly meet over the turnout of events, revoked their contract with Regal Properties Group to move into franchise with Marriott Hotels to proper position and market the hotel product offerings. Revoking contract has its legal and financial implications. The senior management feels hosting the festival at this time is the best way to position the hotel into the market and fear that changing consulting group now to move into franchise will disrupt present arrangements and not portray a good image for the new hotel. Problem Statement Since the stakeholders revokes their contract with Regale Properties whose strategy is to host the city’s festival as marketing strategy to launch the hotel product offerings into the market and prefer moving into franchise with Marriott for best reasons known to them. The decision problem becomes â€Å"How do we better position and market the hotel product offerings into the mature competitive market?† To better define the problem at hand, we need to identify key decision elements surrounding the problem such as: The general nature of the problem: There is a sudden revocation of an existing contract with a consulting group (Royale Regale Property) to move into franchise withShow MoreRelatedExamples Of Military Leadership1621 Words   |  7 Pages Served as a Senior Advisor, Telecommunication Chief and Project Manager and a Military Veteran with a Top Secret -SCI Security Clearance and 25 years of results-driven, proven leadership experience in the United States Army. Exercised, full managerial authority and aggressive integration of human capital practices, and innovative solutions to complex human capital challenges. Experienced in developing and contributing to, and supporting the organization’s mission, vision, values, and strategic goalsRead MoreThe decision to pursue masters in engineering management has not happened suddenly. Over the past 5700 Words   |  3 PagesThe decision to pursue masters in engineering management has not happened suddenly. Over the past 5 years, several aspects of my studies and work built the passion and interest in the field. I enjoyed my engineering education in general and did fairly well. However, I particularly excelled in courses that dealt with management, communications and humanities. The following graph shows the overall picture. 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Management Organisational Behaviour Free Essays

Enhancing workers’ motivation is among the most important assignments for managers. With qualifications and motivation being two parts of the performance equation, improvement in motivation seems an easier task in the accomplishment of which most managers energetically engage. The importance of effective management of the human resource is explained by the fact that talented and empowered human capital is becoming the prime ingredient of organizational success (Kotelnikov, 2001). We will write a custom essay sample on Management Organisational Behaviour or any similar topic only for you Order Now With this said, quite often managers will act on the idea: â€Å"Need to increase organisational productivity? Increasing workers’ salaries is always a guaranteed incentive!!† However, a rise in employees’ compensation often fails to bring about the desired results and leads only to increased expenses from an organizational standpoint. This is why executives need to consider carefully various theories of motivation and evaluate their impact on their efforts to raise employee motivation. This exploration of a number of motivation theories can enable business professionals to come up with more effective solutions at enhancing productivity than simple pay raises. Need-Based Theories: Abraham Maslow Motivation theories are generally grouped into two distinct groupings including need-based and process theories. Need-based theories include those that concentrated on motivation driven by employees’ needs and wants. They include Abraham Maslow’s Pyramid, ERG Theory, Lawrence and Nohria’s theory, and McLelland’s Learned Need Theory (McShane, 2004). Among Need-Based theories, Abraham Maslow’s pyramid is perhaps the most famous one. This theory arranges human needs in a neat hierarchy, stipulating that when the needs further down to the bottom are satisfied, an individual becomes motivated by the drives of the next higher order. The rough division is the following: â€Å"physiological, safety, social, ego, and self-actualizing† needs (Lindner, 1998). Thus, when physiological and safety needs are satisfied, the person becomes driven by social needs, longing for love, care, and acceptance. In the hierarchical pyramid, self-actualizing needs are of the highest rank and will be revealed in all individuals who have achieved a more or less complete realization of other needs. This theory has important implications for managers. Most importantly, it reveals that human motivation is driven by a more complex background than just money. Among motives listed by Maslow, not all can be satisfied with financial gains, no matter how big. Financial reward works well in compensating those individuals who are struggling to cover physiological and safety needs. However, moving to social, ego, and self-actualizing needs, employees will require something more ingenuous to stimulate them than just financial compensation. In this area, monetary bonuses are often welcomed as a sign of appreciation that boosts a person’s ego rather than as a way to satisfy needs. This means that managers can draw on this theory to design incentives that will stimulate the performance of their relatively higher-paid employee groups who already place social and self-actualizing needs above basic ones. McLelland’s Learned Need Theory This is another example of a Need-Based theory that highlights some of important human drives that can propel good professional performance. The main idea behind the theory is that some needs are learned and not innate. Among those the most important needs are need for achievement, need for affiliation, and need for power. The first need includes â€Å"desire for challenging and somewhat risky goals, feedback, recognition† (McShane, 2004).   Managers can draw the conclusion that they have to be careful with the goals they set for employees. By setting ambitious, but achievable goals, they can create in their employees a sense of achievement that will increase their enthusiasm for work. Goals set each time one step higher than the employee’s current level are a good way to balance achievement with real abilities. Need for affiliation is defined as â€Å"desire to seek approval, conform, and avoid conflict† and â€Å"project a favourable self-image† (McShane, 2004). People are motivated by the need to feel a bonding with others and maintain a positive relationship with the rest. The manager can harness this drive by establishing a personal relationship with employees. For example, a person who is good with subordinates can use this friendship or partnership to elicit a positive response to work from them. An alternative way to use the need for affiliation is to place people in teams where the need to maintain a good relationship with others can push people toward making an extra effort to improve team performance for the benefit of all its members. The need for power is the most straightforward drive as it represents the â€Å"desire to control one’s environment† (McShane, 2004). This drive is certainly best realized in the managerial function. However, wide delegation of different tasks to various rank-and-file members can augment their sense of power and control and in this way stimulate their performance. Gellerman (1992) also refers to â€Å"power† and â€Å"achievement† motives as the motives that drive winners’ performance. Individuals struggling for achievement are motivated by internal agenda, â€Å"a process that occurs inside their own heads† and â€Å"consists of setting and then pursuing their own goals† (Gellerman, 1992, p. 20). In contrast, those following the power motive are more propelled by their external environments. Stahl (1986), after testing McLelland’s theory in various employee groups, arrived at the conclusion that the three drives are unequally represented in various groups. Thus, â€Å"senior executives were found to be the lowest scoring group in n Aff [Need for Affiliation] among all the samples in this book, with an average n Aff percentile of 15 percent† compared to blue collar workers’ average of 70% (Stahl, 1986, p.117). On the contrary, executives scored the highest in the need for power, along with colonels at the Air War College. The need for achievement was most strongly expressed by scientists and engineers. The above findings suggest that a manager needs to take into consideration the needs of particular groups and design incentive systems in consideration of the diversity of needs in various groups. Scientists may need a greater recognition effort, while blue-collar workers may be in need of more expression of gratitude and approval. In any case, the consideration of McLelland’s theory reveals that money cannot be the only driver, and the management needs to account for a wide range of motivators, also considering their category and what is most typical of this particular group. The same refers to the strength of drives across cultures. Individualistic cultures may be more driven by the need for achievement, while in collectivist cultures the need for affiliation is likely to play a greater role. However, this trend is likely to result in a unique combination of needs and drives present in each specific nation that can have an individual â€Å"motivation portrait†. This diversity of needs and connection between culture and motivation is another reason why reliance on one way of motivation, financial compensation, is ineffective. A multinational organization would do well to adjust its motivation strategy to its particular region it operates in, and those working in multicultural environments within one country have to attempt to account for diversity of their workforce in the design of their incentives. Expectancy / Equity Theory Expectancy / Equity Theory advanced by Victor Vroom is an example of process theories. It claims that motivation will be determined by a combination of effort, performance, and attractiveness of the reward. To be motivated, an employee should perceive the reward as achievable and the reward as desirable. In fact, there are three questions to be asked in order to define motivation: How hard will I have to work? (Effort) What is the reward? (Performance) How attractive is the reward? (Attractiveness) (Sharma, 1995) Rewards are separated into positive and negative ones, while â€Å"the more positive the reward the more likely the employee will be highly motivated† (Lindner, 1998). The same correlation is true for negative rewards where a more negative reward will discourage performance. The role of the management in the light of this theory is to establish clear links between effort and performance, on the one hand, and performance and reward, on the other hand. This will stimulate employees’ effort progress in the right channel. The correct determination of the reward is the crucial step in this process. Managers need to realize what the most important motivator for their staff is and act accordingly. Money can be this motivator in a number of cases; however, not in all. Alternative motivators can be approval of performance, promotion to a higher position, broadening of responsibilities, enrolment in training courses or formal evening education (such as MBA program), and so on. In any case, an employee should be expected to make an effort to achieve the reward – it should not be â€Å"granted† as such. A simple rise in salaries will not accomplish the task since an individual has to strive to achieve an increase in compensation via making an extra effort. Lindner (1998) suggests a scenario according to which employees are stimulated to do extra fundraising activities and told that â€Å"employees who are successful in securing funds will be given more opportunities to explore their own research and extension interests (interesting work)†. In this situation, there is a greater stimulus for employees to put extra effort in securing additional funding sources. Conclusion Employee motivation is a complex area, but its exploration is essential for any manager willing to achieve workable results in organizational productivity. Individuals in their workplaces are motivated by a variety of needs and drives. Recognition of these needs will enable managers to accomplish the goal of enhancing organizational performance, relying on a carefully designed incentive system combining a variety of stimuli appropriate for different employees. Incentives should be selected with consideration of group specificities, cultural variation, and individual differences. This shows that one-size-fits-all policy of raising salaries expecting a simultaneous rise in performance is hardly effective. Money is only one of possible motivators that can inspire individuals and, to be effective, it should be clearly linked to performance. References Gellerman, SW 1992, Motivation in the Real World: The Art of Getting Extra Effort from Everyone-Including Yourself, Dutton, New York. Kotelnikov V 2001, Employee Empowerment, viewed July 11, 2006, http://www.1000ventures.com/business_guide/crosscuttings/employee_empowerment.html Lindner, JR 1998, ‘Understanding Employee Motivation’, Journal of Extension, vol. 36, no. 3, viewed July 11, 2006, http://www.joe.org/joe/1998june/rb3.html McShane, SL 2004, ‘Lecture Five: Motivation in the Workplace’, in Canadian Organizational Behaviour (Fifth Canadian Edition), McGraw-Hill Ryerson Limited, Toronto, viewed July 11, 2006 Sharma, S 1995, Motivation: Expectancy Theory, viewed July 11, 2006, http://choo.fis.utoronto.ca/FIS/Courses/LIS1230/LIS1230sharma/motive6.htm Stahl, MJ 1986, Managerial and Technical Motivation: Assessing Needs for Achievement, Power, and Affiliation, Praeger Publishers, New York.                         .             How to cite Management Organisational Behaviour, Essay examples

Thomas Eakins and Mary Cassatt free essay sample

This paper discusses the lives of Thomas Eakins and Mary Cassatt along with summaries of some of their works. A paper discussing Thomas Eakins and Mary Cassatt, along with some brief descriptions of selected works. Short biographies are given of both artists. The author mentions the style of each artists. From the late 1860s to the late 1880s a French art movement flourished. Derived from Monets painting Impression, this worldwide movement was called Impressionism. Impressionists painted mainly of modern-day subjects in the open air. They used a lot of bright colored paints (little drawing) and aimed to capture the effects of light. Two great American artists of this time were Thomas Eakins and Mary Cassatt. Thomas Eakins was born on July 25, 1844 in Philadelphia. His father was a writer from which he inherited a lot of talent. He also learned to love the outdoors from his father and his childhood. He was very outgoing and did exceptionally well in school. We will write a custom essay sample on Thomas Eakins and Mary Cassatt or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Eakins especially loved science and math, which he enjoyed using later in his career.

One Art Essay Example

One Art Paper The art of losing isnt hard to master; so many things seem filled with the intent to be lost that their loss is no disaster, Lose something every day. Accept the fluster We will write a custom essay sample on One Art specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on One Art specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on One Art specifically for you FOR ONLY $16.38 $13.9/page Hire Writer of lost door keys, the hour badly spent. The art of losing isnt hard to master. Then practice losing farther, losing faster: places, and names, and where it was you meant to travel. None of these will bring disaster. I lost my mothers watch. And look! my last, or next-to-last, of three beloved houses went. The art of losing isnt hard to master. I lost two cities, lovely ones. And, vaster, some realms I owned, two rivers, a continent. I miss them, but it wasnt a disaster. Even losing you (the joking voice, a gesture I love) I shant have lied. Its evident the art of losings not too hard to master though it may look like (Write it!) a disaster. Why I chose it She explains a major problem well in this poem. We have so many losses in life and we have to learn how to forget some of them otherwise life will overwhelm us. Only if we do this, we will learn how to deal with the big losses in life and the pain that comes with them. Elizabeth Bishop is trying to teach this important lesson to the reader and she does this by creating a poem with an interesting structure. She increases the amount that is lost after each stanza so the reader can understand how forgetting small losses can help them get over bigger losses. She uses a rhyme scheme of ABA in each of her 3 line stanzas and each middle line of the stanzas rhyme with each other middle line of the other stanzas e.g went, continent, intent. With this, the poem flows nicely which helps the reader understand it. Also I was curious on the poem because of the title. After reading it I questioned how loss can be named an art. Bishop explains this clearly in her poem. Commentary Elizabeth Bishops poem, One Art, is a poem overflowing with irony which uses the structure and expressions to evoke the emotion of loss which Bishop is trying to convey to the reader. She seems to have lost many things in her life and has written this poem for the sole purpose to reassure the reader that if they find control within themselves, they are able to accept the many losses that are in their lives. Loss is something that cannot be mastered, emotion is always attached to loss. But Bishop is trying to tell the reader that with each loss, you endure it more and will ultimately learn to control the feeling, with less pain. The speaker in this poem seems to be Bishop dealing with her inner emotions of loss, trying to master loss so she does not have to deal with the painful emotions afterwards. This is ironic at the very concept of mastering loss, as loss is not a feeling that can be mastered. The structure of the poem is a villanelle as there are five stanzas of three lines followed by a stanza of four lines. Bishop seems to have utilised this structure to increase the readers attention and respect for loss as each stanza progresses. The tone of this poem is recognized by the reader from reading the first line. The poem deals with loss which is associated with death. A poem dealing with this theme will most certainly have a negative tone, and One Art is no exception. The tone changes with each stanza, gaining in sadness as the poem continues. This is because the value of what is lost increases within each stanza. This tone helps the reader emphasise on the value of loss. Bishop uses repetition often and refrains the line The art of losing isnt hard to master which is done to stress on the importance of the title. Also the readers sense of the subject is gained by each repetition as the theme of the poem is emphasised after each stanza. Each refrain builds up stronger amounts of loss. The second stanza is based on the loss of door keys or wasting time. The poet personifies these lost objects, saying that they seem filled with the intent to be lost. This is showing that these objects want to be lost and by giving inanimate objects feelings, it conveys that these objects are not of great importance. These are basically simple losses that one can learn to forget, but as the poem progresses, the amount that is lost builds up, including personal things with much more importance. This point can be proven in the third stanza, where she says Then practice losing farther, losing faster: This is the point in the poem, where she begins to name things that can be lost with much greater importance. Following the third stanza, the next one involves things of personal importance to a person. my mothers watchthree beloved houses. These things are more personal as a home is one which symbolises love and protection, which is a contrast to the insignificant loss of keys. In the fifth stanza, she describes the loss of things with huge importance, two rivers, a continent. Bishop continues the patter of possessions increasing in importance, by describing things which affect thousands of people. She seems to have reached things of the highest importance but finally in the last stanza, it all leads up to the most painful loss, the loss of a lover. After the fifth stanza, she uses a dash to start the last stanza. This is done to show that she is finished describing the loss of material objects, and is moving on to the loss of something with the most importance. Its evident the art of losings not too hard to master though it may look like (Write it!) a disaster. This entire stanza flows together due to the quicker pace and full use of enjambment throughout the entire stanza. The reader was use to the punctuation increasing and pace slowing down each stanza from the first to the fifth, so this increased the impact of pace on the last stanza, making it more powerful. Parenthesis was effectively used to show how hard and painful it was for the writer to write down her emotions into words, (Write it!). Bishop is trying to teach the reader to endure the many small losses, in order to feel less pain in the loss of something with much importance. By breaking away from describing the loss of an inanimate material objects towards a living person, she amplifies the feeling of loss which conveys the message of the poem clearly to the reader. With each stanza, we further understand the emotions which Bishop is trying to convey to us. She uses the title to imply how dealing with a loss is an art in its own accord. An art is something of beauty that requires massive amounts of effort to accomplish. The use of punctuation is another distinct feature of the structure of this poem, with each stanza, the amount of punctuation increases up until the fifth stanza. Bishop increases the value of what was being lost, along with this, the punctuation increases as well. This was done to slow down the pace of the poem so that the reader understands the importance of each possession. When describing each thing that was being lost in the fourth, two cities, lovely ones.two rivers, a continent. Along with the commas, caesura was used as well in the first line to slow down the pace. By forcing the reader to stop in the middle of the line, it takes them by surprise as it was sudden, not done in the poem before. This stanza contrasts with the quicker pace of the first stanza as there was only one semi-colon and comma used. This is clear evidence of the punctuation used by Bishop which greatly emphasises what Bishop was trying to achieve with this poem. This poem was written to show the readers the comparison of loss between different things. This poem may seem simple, but is very deep mainly through the way the poet utilised the structure and the richness in irony. This can be seen by how she refrains the use of loss isnt hard to master. This changes in the last line to loss isnt too hard to master This might show how it is getting harder for the poet to overcome the loss of a loved one. Bishop proves that the loss of trivial things and mastering this loss, will not be able to prepare you for the loss of something beloved by you, which further increases the ironic nature of the poem. In the end she could be all alone, hence the title One Art. She believed that if she could detach herself from pain and forget these feelings, she can begin a new life and grow, but realises that it is too hard for her.

Overview of OLED Technology

Overview of OLED Technology OLED stands for organic light-emitting diode and its cutting edge technology results from many innovations in display monitors, lighting, and more. As the name suggests, OLED technology is the next-generation advance of regular LEDs and LCDs, or liquid crystal displays. LED Displays Closely related LED displays were first introduced to consumers in 2009. LED television sets were much thinner and brighter than their predecessors: plasmas, LCD HDTVs, and, of course, the humongous and outdated CRTs, or cathode-ray tube displays. OLED displays were introduced commercially a year later, and allow for even thinner, brighter, and crisper displays than LED. With OLED technology, completely flexible screens that can fold or roll up are possible. Lighting OLED technology is exciting because it is a viable and functional innovation in lighting. A lot of OLED products are light panels whose large areas diffuse lighting, but the technology lends itself well to different applications like the ability to change shape, colors, and transparency. Other benefits of OLED lighting compared to traditional alternatives includes energy efficiency, and the lack of poisonous mercury. In 2009, Philips became the first company to manufacture an OLED lighting panel called Lumiblade. Philips described the potential of their Lumiblade as thin (less than 2 mm thick) and flat, and with little heat dissipation, Lumiblade can be embedded into most materials with ease. It gives designers almost limitless scope to mold and meld Lumiblade into everyday objects, scenes and surfaces, from chairs and clothing to walls, windows and tabletops. In 2013, Philips and BASF combined efforts to invent a lighted transparent car roof. It will be solar powered, and will turn transparent when switched off. Thats just one of many revolutionary developments possible with such state-of-the-art-tech. Mechanical Functions and Processes In the simplest of terms, OLEDs are made from organic semiconductor materials that emit light when an electrical current is applied. OLEDs works by passing electricity through one or more incredibly thin layers of organic semiconductors. These layers are sandwiched between two charged electrodes–one positive and one negative. The â€Å"sandwich† is placed on a sheet of glass or other transparent material which, in technical terms, is called a â€Å"substrate†. When current is applied to the electrodes, they emit positively and negatively charged holes and electrons. These combine in the middle layer of the sandwich to create a brief, high-energy state called â€Å"excitation†. As this layer returns to its original, stable, â€Å"non-excited† state, the energy flows evenly through the organic film, causing it to emit light. History OLED diode technology was invented by researchers at the Eastman Kodak company in 1987. Chemists Ching W. Tang and Steven Van Slyke were the principal inventors. In June 2001, Van Slyke and Tang received an Industrial Innovation Award from the American Chemical Society for their work with organic light-emitting diodes. Kodak released several of the earliest OLED-equipped products, including the first digital camera with a 2.2-inch OLED display with 512 by 218 pixels, the EasyShare LS633, in 2003. Kodak has since licensed its OLED technology to many companies, and they are still researching OLED light technology, display technology, and other projects. In the early 2000s, researchers at Pacific Northwest National Laboratory and the Department of Energy invented two technologies necessary to make flexible OLEDs. First, Flexible Glass an engineered substrate that provides a flexible surface, and second, a Barix thin film coating that protects a flexible display from harmful air and moisture.

Healthcare Administration Degree Best Careers and Schools

Healthcare Administration Degree Best Careers and Schools SAT / ACT Prep Online Guides and Tips Are you considering a job in healthcare administration? It’s a rapidly growing field that pays well and gives you the opportunity to help patients and make the medical process easier for them. However, you need to have the proper education to work in this field. What healthcare administration degree do you need to get the job you want? Once you have your health administration degree, what jobs can you get? How much money can you make? Is a bachelor’s degree in healthcare administration enough or do you need to get a master’s? And if you decide to get your degree online, what are the best programs available? This guide will answer all your questions! What Is a Healthcare Administration Degree? If you’re interested in healthcare but think you’d prefer the business side, you may want to look into getting a healthcare administration degree. People who work in healthcare administration handle the work that goes on mostly behind the scenes to ensure that people get the care they need as quickly and smoothly as possible. Their roles can include handling patient insurance forms in a nursing home, explaining the best way for a business to sell medical devices, managing workers in a hospital, and more. To work at many of these jobs, you’ll need a health administration degree. Healthcare administration can be a complicated and technical field, and since making a mistake with someone’s insurance or medical records can have potentially disastrous consequences, it’s critical that you’re properly trained. When you start a healthcare administration degree program, you’ll learn everything you need to know to succeed in these positions, from proper medical billing, to how insurance works, to managing other employees, and even classes in anatomy and health so you have a solid understanding of healthcare. What Jobs Can You Get With a Healthcare Administration Degree? A healthcare administration degree qualifies you for healthcare jobs in many areas. You may work in a hospital, laboratory, government agency, or a private business. Some jobs focus a lot on billing and insurance while others emphasize management and organizing other employees or organizations. There are dozens of positions you are eligible for with a healthcare administration degree, and below we give descriptions of five of the most common. Salary data is from PayScale. Medical Office Manager People in this position typically work at doctor offices, where they are in charge of making sure the entire office runs smoothly. This may include supervising staff, making sure all paperwork is filed correctly, handling issues with insurance that arise, and making sure appointments are managed in an organized way. Average annual salary: $48,252 Healthcare Consultant Healthcare consultants provide advice to businesses that want to learn more about healthcare, potentially because they work with healthcare specialists or sell healthcare products. The healthcare consultant will conduct research and analyze data to help the business determine the best ways it can meet its goals. Average annual salary: $76,661 Community Support Manager If you get a job as a community support manager, you’ll be responsible for helping develop and implement programs to improve the health of both individuals and communities. You’ll likely collaborate often with other healthcare professionals, including doctors, nurses, dietitians, and social workers, to develop plans that improve all aspects of health for the person or group you’re focusing on. Average annual salary: $46,452 Healthcare Human Resources Manager At this position, your duties will primarily consist of overseeing employee pay, benefits, trainings, and hirings. It’s similar to a general HR manager position, but you’ll have special training for doing these duties in the healthcare field. Average annual salary: $65,298 Insurance Specialist These employees contact insurance companies on behalf of patients and doctors, work with medical records, deal with coding and billing, and overall make sure insurance benefits and payments are being properly applied. Average annual salary: $59,994 Should You Get an Associates, Bachelors or Masters Degree in Healthcare Administration? There are three types of healthcare administration degrees: associate, bachelor, and master. Which degree should you get? That depends a lot on how quickly you want to begin working and the types of jobs you’re looking for. Most people will get a bachelor’s degree in healthcare administration, since that qualifies you for most jobs in this field, but read on to learn how long each degree takes to get and which jobs it’ll qualify you for. Associate Degree in Healthcare Administration 60 credits Usually takes two years to complete An associate degree in healthcare administration qualifies you for some entry-level admin jobs at hospitals, nursing homes, or other medical practices, however; other entry-level jobs, especially those at hospitals, will require a bachelor’s degree. You’ll take classes in medical terminology, business administration, medical ethics, and healthcare management, among other topics. Bachelor Degree in Healthcare Administration 120 credits Usually takes about four years to complete A bachelor degree in healthcare administration opens up far more job opportunities than you’d get with an associate degree alone. During your four years of study, you’ll study healthcare administration in-depth and learn the ins-and-outs of record keeping, medical law, HR management, medical accounting, anatomy, and other subjects. You may also choose to specialize in a certain area, such as emergency health, home care health, or others. With a bachelor health administration degree, you’ll be qualified for all entry-level healthcare administration jobs, and if you can enough experience, you can eventually move on to more advanced positions, such as departmental leadership jobs. Master’s Degree in Healthcare Administration 32-60 credits Usually takes about two years to complete Most healthcare administration jobs don’t require anything higher than a bachelor degree, but if you are hoping to obtain a leadership position in a large practice, such as a hospital or another organization with executive management, having a master’s degree will help you achieve those goals. Graduate classesin healthcare administration will place more of an emphasis on business and administration leadership, as well as classes in strategic planning and more technical areas of healthcare. With a Master’s in healthcare administration, you’ll be qualified for nearly all leadership positions in healthcare administration (as long as you also have enough relevant experience). What Are the Best Healthcare Administration Degree Online Programs? Like other online degree programs, online degrees in healthcare administration have seen a huge increase in popularity in the past few years. Online degrees are often much easier to obtain for people who wouldn’t have the time, money, or ability to attend on-campus classes. However, some online degree programs are little more than diploma mills, so if you decide to get your healthcare administration degree online, you need to make sure it’s from a legitimate school, otherwise you’ll have an extremely difficult time finding a job. You should only enroll in a school that is accredited. This information is typically found on the school’s website, but if you can’t find it, a simple Google search of â€Å"[school name] accreditation† should give you your answer. Also read reviews of other students who have gotten their healthcare administration degree online from the school to learn what they think about it and if they’d recommend the program to others. To make your search a little easier, here is a list of three of the best online bachelors of healthcare administration degree programs. You can feel confident you’re getting a good education at any of these schools, but they definitely aren’t the only good options available, so make sure you do some research before deciding on a school. Colorado State University Fort Collins, Colorado Degree offered: Bachelor of Science in Healthcare Administration Tuition cost: $350 per credit hour What makes it stand out: CSU is one of the most affordable online healthcare administration degree programs, and there are no additional out-of-state tuition fees. Additionally, CSU has a very flexible course schedule. Every class is offered every semester, and there are accelerated courses offered throughout the year if you want to finish a certain class more quickly. University of Central Florida Orlando, Florida Degrees offered: Bachelor of Science in Health Services Administration, Bachelor of Science in Health Informatics and Information Management Tuition cost: $212.28 per credit hour (in-state) or $748.89 per credit hour (out-of-state, and before tuition reductions) What makes it stand out: UCF has a rigorous curriculum, including multiple specialization opportunities and a capstone experience in healthcare administration, to ensure you’re prepared for whatever job you get after graduation. It also gives out-of-state online students a discount so their tuition so their cost of attending is more affordable. University of Memphis Memphis, Tennessee Degree offered: Bachelor of Science in Health Studies (with a concentration in Healthcare Leadership) Tuition cost: $320 per credit hour (in-state) or $594 per credit hour (out-of-state) What makes it stand out: All healthcare administration students at the University of Memphis are required to complete an internship in healthcare leadership. This ensures they have real world experience before they graduate and will give them a leg up when applying to jobs. Summary: Health Administration Degree If you want to work in healthcare administration, you’ll need to have the proper degree. A healthcare administration degree can qualify you for many positions, ranging from jobs in nursing homes to hospitals to big businesses. A bachelor’s degree in healthcare administration is enough to qualify you for most jobs, but a Master’s degree in healthcare administration is needed for some leadership positions. There are online degree programs if you want to work in healthcare administration but, same as for all schools, make sure the school you decide to attend has a good reputation and will prepare you for the career you want. What's Next? Are there other science topics you want to review? Then you're in luck!Our guides will teach you loads of useful topics, includinghow to convert Celsius to Fahrenheitandwhat the density of water is. What are the most important science classes to take in high school?Check out our guide to learn all the high school classes you should be taking. Thinking about becoming a nurse practitioner?Read our guide on everything you need to know about the steps to becoming a nurse practitioner. Have friends who also need help with test prep? Share this article! Tweet Christine Sarikas About the Author Christine graduated from Michigan State University with degrees in Environmental Biology and Geography and received her Master's from Duke University. 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Globalisation and the State - Discuss Literature review

Globalisation and the State - Discuss - Literature review Example This term provides, in a nut shell, the idea of capitalist globalisation. The transnational capitalist class consists of four segments. These are the owners and affiliates of the transnational corporations that control the business objectives and activities of these corporations; politicians and bureaucrats from different nations; professionals working globally in different sectors and finally the consumerist elite class consisting of rich merchants and media professionals (Sklair, 2001). The transnational capital has become an important part of the capital endowment of the world. Different classes in the Marxist understanding refer to the divisions among workers all over the world on the basis of the relation they have with the social production function (Fouskas and Gokay, 2012). The translational capitalist class has no national boundaries and they are forerunners of the modern spree of globalization. This new bourgeoisie class is recognised as the capitalist class and they repres ent the transnational capital. ... However, recently, the concept of sustainable development has evolved and companies are now concerned about the sustainability of their business activities (Robinson, 2003). Great depression of 2008: Capitalism Perspective Various economists and researchers have studied the phenomenon of the global depression which was a consequence of the large scale financial crisis that occurred during 2007-2008. The global depression of the 2008 has been viewed by many scholars under the light of the global capitalist theory (Krugman, 2009). The rise of the transnational capital and transnational capitalist class has led to the emergence of a â€Å"globally integrated production and financial system† (Robinson, 2012). According to the reports published by commentators of events of economic and political significance in the world, the crisis has its roots in the sub-prime loan fiasco in the United States that had surfaced in mid-2007 (Jones, 2004). It has been emphasised that the financial debacle had been taking its shape for a long period of time even before it came to public notice in mid-2007. The overall global recession followed inevitably and remained effective over the next year. The original cause of the crisis lies deep in Marxist understanding. It can be stated with evidence that the crisis situation was a result of contradictions of state power and over-accumulation. Capitalism strives and progresses by the means of capital accumulation. However, over accumulation of capital restricts the direct productive involvement of human capital in the process of the production. Due to over accumulation, the economic system cannot expand. Marginalization of a considerably high portion of the working population from direct productive participation and downward pressure on wages

Health Care Delivery System Case Study Example | Topics and Well Written Essays - 500 words

Health Care Delivery System - Case Study Example First of all, the requirement for high quality care, doubled by the social responsibility to patients, is counterbalanced by an increasing pressure to lower costs and to remain afloat financially. The Canadian model, on the other hand, is designed as public service, with health care provided considering medical needs first, and the ability to pay later. This, however, leads to high health costs supported by the government and to a lower quality and efficiency of services. The present paper will compare and contrast the two systems at four different levels: access, cost, quality and continuity. As far as access is concerned, there are fundamental differences between the two models. The health care system in Canada is characterized by universal access, with all residents being entitled to insured health services. In the US, by contrast, access is determined by the extent and type of the coverage, with no universal pubic health insurance plan (Madore, 1992). The two completely different approaches lead to major differences in coverage: whereas in Canada everybody benefits from the public health insurance, in the United States more than 10% of the population isn't covered at all. In the matter of costs, both countries allocate significant proportions of their income to health care.

Apple Case Study Essay Example for Free

Apple Case Study Essay The mobile personal computer industry and the mobile phone industry Mobile personal computers are PCs that can run on batteries and that are easy to carry on. It can be said that they are an evolution of the traditional personal computers. To describe the industry, it is important to start by defining its segments : The industry is concentrated, with few competitors dominating the market : Apple, Lenovo, Acer, Dell and Samsung. This industry has been suffering considerable changes with the emersion of the Tablets and the decline of the notebooks. However, notebooks are still the most known segment and the largest market share. So, in this analysis they are going to be considered as the main segment. Their key success factors are the following: Key Buying FactorsKey Competition FactorsKey Success Factors Intuitive Familiar technologyIntuitive Software AutonomyDistribution channelsCapacity Price Size Post sale serviceProduct developmentEconomies of scale Customer Support Brand Reliability The Mobile phone industry is one of the most attractive industries to study nowadays: it is growing rapidly and it is in permanent improvement and change . Similarly to the previous industry, mobile phone’s industry is concentrated with Samsung, Nokia and Apple leading the market. Its segments are the smartphones and the feature phones. Key Buying FactorsKey Competition FactorsKey Success Factors â€Å"Next Generation Experience†Innovation AutonomyTechnology/Product Features DesignProduct differentiationProduct line

The Quest of the Holy Grail Essay -- Analysis, Galahad

Galahad was a Knight of the Round Table of Arthurian legend. He is almost always portrayed as the pure knight, and for this he is rewarded with the Holy Grail. He is mentioned in many writings in history including 12th century Cistercian monk writing The Quest of the Holy Grail, Sir Thomas Malory’s Selected Tales of King Arthur and his Knights, and Alfred Lord Tennyson’s Sir Galahad. After reading the next several pages, one should begin to understand the similarities and differences portrayed in these writings, along with some others. The reader will explore how Galahad resists temptation, his quests including the Holy Grail, any romantic encounters including God, and how the writings presented may contradict. After completing the reading the reader should be able to note in what ways Galahad is similar or different in early and modern writings. The first writing selected is The Quest of the Holy Grail. An unknown author wrote this selection though believed to be a 12th century Cistercian monk. As the title implies the main story is in fact the spiritual quest for the Holy Grail. The Holy Grail in this case being the platter from which Jesus Christ served bread at the Last Supper. The Grail is full of many rewards to whoever achieves it including eternal life, and the ability to heal some ailments. Galahad is first presented in this novel by three nuns, â€Å"a youth so fair and so well-made that it was hard indeed to find his peer (Quest 33).† Lancelot then knights him unbeknownst of who he is. A few pages later, a quest is presented to Arthur and his Knights. It is a sword inlayed into a stone, with gold writing that reads, â€Å"none shall take me hence but he at whose side I am to hang. And he shall be the best knight in th... ...alahad is portrayed still as a noble knight, however not that of the Lord, instead a Pagan. Galahad is also similar in age to Lancelot and Arthur, therefore making it seem that the reference of Lancelot being Galahad’s father is nonexistent. There is also no Grail quest, and thus eliminates the motive of God that drives Galahad in all other writings presented. In conclusion, Galahad is portrayed in the presented writings as pure, and the knight of God, for whom the Grail is saved. Throughout the selected readings, there are remarkable similarities showing this, however very few differences. As noted, Galahad does endure many tasks, and resists many temptations of sin. The reader should now have a better understanding of how Galahad is presented in early and more modern works, including each author’s depiction, and the qualities, which they entitle to Galahad.

Self-Managing Teams at General Electric Aircraft

The organizational behavior issues that I addressed in this paper pertain to self-managing teams at General Electric†s aircraft engine assembly facility in Durham, North Carolina (hereafter referred to as â€Å"GE†). The article â€Å"Engines of Democracy† from Fast Company magazine is particularly interesting because the self-managed teams at General Electric fit the definition from our class text, Organizational Behavior (1998), almost perfectly. According to this book, â€Å"Among the management responsibilities allotted each self-managing team is that of continually assessing the work of the team and redesigning the jobs of the team†s members† (p. 152). Throughout the article, examples of job and process changes made at GE were noted. The majority of these changes were made to existing company processes prior to the opening of the plant, while the quest for continuous improvement has driven other changes since the facility opened. You will find various examples of these changes throughout this paper. Although our course text Organizational Behavior (1998) just touches on self-managing teams, the situation at GE seems to be a hybrid of not only self-managing teams (p. 152), but of quality circles (p. 151), and TQM (p. 150). I chose the article â€Å"Engines of Democracy† because I believe that self-directed work teams can be successful in many situations. Unfortunately, they do not formally exist at Commonwealth Edison (my employer), which is a traditional hierarchical company. I also chose this article because jets fascinate me. Simply stated, I am amazed by the fact that something that is so heavy is able to fly so high and so fast. In the article, Charles Fishman (1999) sums up my feelings when he states â€Å"That someone who lives in Topeka can decide on a whim to go to Tokyo, and be there in less than a day, is truly miraculous† (p.180). In this paper, I have highlighted several success factors at GE, and examples are included where it is appropriate. The success factors included are: (a) Team Dynamics and Job Satisfaction, (b) Employee Selection and Skill Level, (c) Work Methods, (d) Employee Pride and Motivation, and (e) Telling Remarks about Commitment. The research methods used to create the GE organization are most similar to the Explicit Theory. Robert Henderson and his managers were responsible for opening the GE plant in Durham, North Carolina. Mr. Henderson decided that the assembly work would be done in the most radical fashion possible. In researching how this would be done, Henderson and his team researched â€Å"best practices†, by visiting other factories looking for ideas and methods that would empower his employees with authority and independence (Fishman, 1999, p. 188). The GE organization also has a hint of the Action Research Method, although it does not appear that it was intentionally used in the development of the organization, nor do all of the stages of the Action Research Model apply to GE. The GE plant has a staff of 170 employees, and 1 plant manager. Teams are responsible for the production of engines from start to finish, and they are told only 1 thing – the date the engine needs to be on a truck. Team members handle all other facets of management. In the empowered atmosphere, decisions are made by consensus. The concept of teamwork is obvious, and a remark of employee by Keith McKee, who stated â€Å"I have 15 bosses – all of my teammates are my bosses† (Fishman, 1999, p. 192) is indicative of the work environment. In addition, the former plant manager, Paula Sims stated that â€Å"We call this the feedback capital of the world† (Fishman, 1999, p. 192). No one is exempt from feedback. Early in Ms. Sim†s assignment, an employee told her that there was no need for her to micromanage the employees, because when she told them to do something, it would get done. I find this refreshing. In Organizational Management (1998), job satisfaction is defined as â€Å"a pleasurable feeling that results from the perception that one†s job fulfills or allows for the fulfillment of one†s important job values† (p.107). Since the article makes no mention of the measurement of job satisfaction, I believe we can measure employee satisfaction by the turn over rate, which is less than five-percent annually. The article also includes some individual remarks relating to job satisfaction. For example, employee Pat Miller commented on previous jobs that he held, â€Å"†¦ I had not input at all-none. I†m much happier here. I [italics added] can change what goes on† (Fishman, 1999, p. 184). With members of the plant conducting interviews of potential co-workers, GE uses extensive interviews that encompass eleven skill areas to evaluate candidates. Interviews have been known to last 8 hours, and they include interactive exercises. It was also decided that all employees should be FAA-certified mechanics. This is the only GE facility that has such a requirement. The rationale behind this thinking is that candidates will already possess valuable training if they are hired. As stated by Robert Henderson, who was in charge of opening the facility, â€Å"That would mean that we†d start with a better caliber of employee †¦Ã¢â‚¬  (Fishman, 1999, p. 188). This remark fits the same line of thinking of another successful businessman, Ron Wolf, General Manager of the Green Bay Packers. Mr. Wolf stated in his book The Packer Way – Nine Stepping Stones to Building a Winning Organization, that the first of the nine keys to winning is to â€Å"hire the best†(Attner, Wolf, 1998). The GE workers strive to keep it simple. For example, the floor in an assembly building is painted blue, so when parts are dropped, they can be easily seen. To hold certain parts in place before they are permanently installed, technicians began using beeswax. Also, all tools have foam cutout areas so that they are not left out of place. This addresses both productivity and safety issues. The plant utilizes what GE employees call â€Å"multiskilling†, which means that all employees know all of the jobs. Derrick McCoy, a GE employee, stated â€Å"Multiskilling is how the place is kept together†(Fishman, 1999, p. 186). As Mr. Fishman (1999) mentions in the article, money alone can not motivate people to perform as well as GE employees have (p. 182). The book Organizational Behavior (1998) shows that Abraham Maslow would agree, as evidenced by his â€Å"Needs Hierarchy† (p. 83). Based on Maslow†s model, money would satisfy physiological and safety needs at best. Pride and satisfaction fuel motivation at the GE plant, as there are no performance incentives. GE team members are so proud that they sweep out trucks so that no damage occurs to their finished product while they are being shipped via truck. Mr. Fishman (1999) reports that GE employees believe that their job is not to make jet engines, but to make jet engines better (p. 202). Commitment and the drive for perfection is taken very seriously by GE employees. This is evidenced by comments like those of employee Bill Lane, who said â€Å"I†ve got a 3-year old daughter, and I figure that every plane we build engines for has someone with a 3-year old daughter riding on it† (Fishman, 1999, p. 180). Employee Duane Williams, referring to problems that workers normally complain about, said â€Å"†¦ well, we have a chance to do something about them. I can†t say, â€Å"They† don†t know what†s going on, or, â€Å"They† made a bad decision. I [italics added] am â€Å"they†Ã¢â‚¬  (Fishman, 1999, p. 186). Certainly commitment comes from self-esteem and being appreciated. Again, Duane Williams remarked that â€Å"I was never valued that much as an employee in my life.† â€Å"†¦ But here, I couldn†t wait to get to work every day. That†s no BS!† (Fishman, 1999, p.184). So how effective is this self-directed plant? The GE plant has not missed a delivery date on their CF6 engine in 38 straight months. The cost of producing the CF6 engine has been reduced by 30 percent since 1995, which is even more astonishing since this engine has been in production for twenty years. When faced with the challenge of reducing plant costs by $1.2 million, the â€Å"expense council† that was assigned to address this issue provided a proposal within 3 weeks. This plan ultimately superceded the plant manager†s plan that had been submitted earlier. Perhaps the greatest achievement of the team occurred when the plant was given the opportunity to build a new style of engine, the CFM56. From the time of the announcement that GE would build this engine, the team produced its first engine 9 weeks later. This was done at a cost that was 12% to 13% less than the Ohio plant, which had been manufacturing this engine style for years. Finally, the best tribute to the employees came from Robert Henderson, who even with the goal of making the plant as radical as possible, stated â€Å"I was just constantly amazed by what was accomplished here† (Fishman, 1999, p. 188).

Literature Review of Strategic Management

This review provides an overview of a few of the key topics that have defined the strategic management field since the later twentieth century. Strategic planning, strategic planning frameworks and strategy implementation issues are discussed both from a historical and modern perspective. Michael Porter's frameworks and generic strategy provide an excellent backdrop for formulation of strategy but scholars argue that the current environment of business may require new or altered frameworks.A blended strategy of differentiation plus cost leadership may be possible within the new technology platforms afforded via e-commerce. Mega sized corporations nearing 500 billion in revenue are redefining the rules of strategy and using their massive scope and scale in new and unique ways. Regulation, diversity and shared value are important to consider in developing strategy and can contribute to differentiation if properly managed. Strategy implementation is an area where further research is nee ded and special attention needs to be focused on the internet and mega corporations as they seem to defy all historical strategy guidance.Keywords: Strategic management, strategy implementation, Michael Porter Introduction The single most important intellectual asset in any company outside of its employees is its strategy. Leaders are defined by the strategies they create and execute. Poorly designed strategy can be devastating to firms and many years of hard work can disintegrate when strategic plans are not properly implemented. Developing consistency in strategy is very important to proper implementation of the core elements. Ultimately the strategy must become centrally integrated and externally oriented in order to define how the business will achieve its objectives.One of the most common reasons for firm bankruptcy is improper implementation of strategy (Hosiery, Chambermaids, Onerous, & Saudi, 2013). Strategy is largely defined by adaptation to a constantly changing marketpla ce which seems to get more and more complex. True strategy is about making complex bets and following up with hard choices (Martin, 2014). Historically stable markets allowed managers to rely on complex strategies that were built on future predictions (Eisenhower & Sulk, 2001). But in the current fast moving marketplace and with the rise of the millennial billionaires, opportunity seizure may require a different approach.The review contained herein will take a shallow dive into a few of the endless strategic management models along with the challenges and typical faults with implementation. The e-commerce world and mega sized corporations will be explored as they present special challenges to strategy makers. The internet seems to defy many of the historical perspectives on business strategy. Diversity and regulation are highlighted as these issues stand out in the literature as being an ongoing consideration for strategy makers.A special focus is on the perspectives of Michael Port er both historically and in the present. Countless reviewers have dissected and applied Porter's academic work. Many arguments have been made both for and against Porter's frameworks held up against a modern business landscape. This paper will serve to challenge Porter's generic strategies and the applicability in today's business world. Managers can learn much from Porter, but to survive in the age of millennial billionaires, leaders may need to develop new frameworks.And those who do will have a good chance at building a firm foundation for responding to competition and reacting to market opportunities in a fast moving global economy. Strategic Management Overview The word strategy is often improperly used by managers as an industry buzzword in hopes of gaining credibility for their management priorities. This often results in confusion and can undermine the credibility of the leader. The word strategy is derived from the Greek strategist, which means the art of the general. The b usiness general must form a coherent strategy which is the sum of the parts of the organization.If this is not accomplished then mid level managers will focus time on their own priorities and the organization will risk fragmentation (Humpback & Frederickson, 2005). The origin of the subject of strategic management is heavily abated but H. Igor Anions is commonly noted as having significant influence in the field prior to Michael Porter whom took center stage in the asses (Martinet, 2010). Insofar bestselling book titled Corporate Strategy was published in 1965 and started to transition the mindset from strategic planning to strategic management.Much of the current understanding of strategic management can be traced back to Porter's (1985) low cost, differentiation, focus framework. His concepts marked a key transition point in the strategic management field by integrating organization specific factors into a model of firm performance (Apparel, 2006). According to Porter's generic st rategy, a firm can maximize performance by either being a low cost producer or differentiating its products or services from other businesses. Either of these strategies can be accomplished by focusing the organizations efforts on a segment of the market.Porter believes that businesses that attempt to employ both strategies simultaneously will end up â€Å"stuck in the middle† and will not be successful. This issue is hotly debated in the literature and especially as related to e-commerce. Internet firms seem to be employing strategies that exhibit one of more firms of differentiation in unison. Despite all the debate, Porter is widely cited in the literature and is highly respected by both supporters and critics alike whom all consider him to be a significant contributor to the field of strategic management.Nag, Humpback, and Chem. (2007) contended that the field of strategic management is lacking an identity. The researchers conducted an exhaustive large scale survey of aca demics in the field and came up with the following definition for strategic management. â€Å"The field of strategic management deals with the major intended and emergent initiatives taken by general managers on behalf of owners, involving utilization of resources, to enhance the performance of firms in their external environments. † (p. 944).The interface with the external environment, also known as the customer and the community, is a central dogma of the strategic planning process and we will see this theme emerge throughout the literature review. Strategic Planning Strategic planning is normally the first step in the strategic management process and is critical to the success of an organization. Strategic plans normally have three parts (Martin, 2014). The first is the mission or mission statement that sets the long term owls. The second is a listing of the initiatives that the organization will carry out as part of its fulfillment of the goal.And third is the financial i mpact of the initiatives. Martin (2014) recommends three rules for strategic planning to prevent from falling into the trap of focusing on internal metrics and not the external customer. Rule one is to keep the strategy simple by focusing on what will attract customers. Eisenhower and Sulk (2001) contend that to survive in a complicated high velocity market space, managers should choose simple rules over complicated plans. The simple rules will low the managers to move quickly in order to capture opportunities more quickly.Customers will spend their money with the company that has the superior value proposition. Martin (2014) rule two is strategies do not have to be perfect. There should be some risk in the strategy and boards should not prevent management from taking risks in setting strategy. This actually weakens the strategy. And the final rule is to test the logic of your thinking. Write down the desired outcome when setting strategy. The logic should be compared to real life e vents in order to identify areas of improvement along the way.Despite the criticality of strategic management to an organization's success, a McKinney survey found that most executives are not happy with their strategic planning process (Dye, 2006). And companies that have formal strategic planning processes have the highest level of satisfaction with corporate strategy development. Selene (2009) broke strategic management into four different schools including the classical school, the environmental school, the competitive school, and the contemporary school.The classical school is based on the research contributions of the mid twentieth century and is centered on the fit between internal and external actors. Classical management assumes that internal and external factors have an equal fit. The SOOT analysis is a common model used to assess the classical business environment. The environmental school contends that the external environment plays the most important role in strategy de velopment. And firms that do not respond well to the external environment will eventually die out. The competitive school of strategy is distinguished by competition being the driving force in differentiation.Porter (1980) noted that the firm must acknowledge and respond to the external opportunities and threats to survive. The contemporary school souses on understanding the internal firm. Collaboration and differentiation are important to winning with a contemporary strategy. Multicast (2009) provides an interesting perspective on strategic management and its relationship to time. Strategic planning is most often thought of in terms of planning for the long term future of the firm. The author encourages management to also consider history, the present, and the near future in making strategic planning decisions.When new management enters a firm, history is often seen as a negative since historical perspectives are sometimes viewed as a hindrance to instituting hanged. But in reality , history can be an asset to strategic planners. For example, if the company has a culture of continuous improvement, good employee loyalty and commitment, and good learning ability, then this is a sustainable competitive advantage that should be retained. If new management is not aware of the firm's culture then they may make decisions like terminating senior employees therefore damaging the firms culture and competitiveness.Passage of time can also be a weakness if management has become complacent and they are not questioning the way their firm operates or making suggestions for efficiency gains. Improving the learning capabilities of the firm can help prevent previous strengths from turning into weaknesses. Generic Strategies According to Porter (1980), differentiation, cost leadership, focus, or a combination of differentiation and cost leadership are the keys to maintaining a competitive advantage. These are known as Porter's generic strategies and are still relevant in busines s today.The below sections will explore some of the applications of Porter's generic strategies. This section also addresses a blended cost leadership/ differentiation strategy model which has emerged in the literature largely as a result f the success of companies that have seen success using the internet as the primary customer interface. Differentiation. Differentiation or value is defined by having a product or service that is differentiated from the competitor on some stand alone merit. Firms that employ differentiation typically can charge a premium for their product or service.The consumer typically sees a superior value in the product or service, whether perceived or real, and is willing to pay a premium. Akin, Allen, Helms, and Sprawls (2006) discovered three tactics that were most commonly employed in differentiation strategy. These included innovative marketing technology or tactics, a culture of creativity and innovation, and an emphasis on having a significant market sh are. Marketing research had found that it is eight to ten times more expensive to market to new customers than to existing customers (Akin et al. 006). Organizations must have insight into the future in order to manage and drive profitability and this should be a key component of the strategic planning process. This can only be accomplished by developing a culture of innovation. Unfortunately the tactics needed to create a culture of innovation are not ell understood and documented in the literature. Many firms seem to be out of touch with the external environment in which they operate. Kim, Name, and Stripers (2004) evaluated differentiation within the context of e-commerce.Due to the low costs on switching sources via the internet, it is more important that internet companies learn how to differentiate. Differentiation based on distribution is a key area of focus for internet firms. Speed of delivery, online interface, security, and order tracking are all ways that internet firms are differentiating themselves. There re numerous studies that show that internet shoppers are less sensitive to price when the product or service is coupled with information or services. Olio and Fay (2012) noted that innovation is only possible with a good strategy.Firms should avoid copying other company's ideas. And instead develop innovation that is relevant to the needs you are trying to serve. Jumping on trends is not always a bad idea as long as it is tailored to your strategy. The firm's core value proposition should have stability. Successful companies rarely have to go through major changes since they re constantly updating their processes, offerings, and methods. Industry structure is dynamic and structural change is very slow. Having a good understanding of industry stricture will help to identify new strategic opportunities.Multicast (2009) discussed differentiation as a crucial component of understanding competitiveness. Differential value is an important component of competitiveness and can be created in a number of ways including reliability, product features, quality attributes, and aesthetics. In addition to having differentiating factors, the product will also need to overcome the â€Å"hurdle factors. These are the characteristics that the customer expects the products to have and are a limiting factor in the initial product selection. Differentiating factors without â€Å"hurdle factors† will not position the product or service competitively.Perception is important since it is important to understanding the customer perspective since it may be different than the firms perspective. If the customer does not have a need for a differentiating characteristic of the products than those characteristics will potentially add manufacturing cost without adding value to the customer. Cost Leadership. Cost leadership requires a accompanied mindset to operate at the lowest cost possible. The company must be willing to walk away from opportuniti es where they cannot be a cost leader and must choose outsourcing partners whom will provide cost leadership.All company operations and marketing must be centered on cost leadership. Tactics employed include mass production and distribution, vertical integration, lower input cost from raw materials, and technology. The tactic that has proven to be most beneficial to cost reduction strategy is to lower distribution costs (Akin, Allen, Helms, & Sprawls, 2006). One way hat retailers have accomplished this is through cross docking or shipping direct from manufacturer to retailer without storing in warehouses. Wall-Mart is largely credited with developing cross-docking strategy and this has been widely adopted and refined by retailers since the asses.The internet has been a hotbed for companies trying to implement cost leadership strategy. Kim et al. (2004) studied this issue and reported that most online shoppers are using price as their most important buying criteria. The internet prov ides a format for retailers to quickly access a large volume of customers through a price leadership strategy. Porter (2001) argued that the internet is a very difficult environment in which to differentiate one's firm since they lack many of the physical attributes of brick and mortar firms like sales people.In general, most online only brands have not been very successful at brand building and have developed only modest customer loyalty(Papua & Upon, 2000). Kim et al. (2004) recommend that companies avoid cost leadership for internet firms. And instead they recommend using a blended strategy that includes elements of cost leadership as well as differentiation. Porter's cost leadership framework is often misinterpreted by managers. Competitive advantage for example has come to mean anything that the organization deems as noteworthy. Porter was very specific in defining competitive advantage as price advantage versus rivals.The price may be low or high depending on the choices made in the value chain. These choices shift relative cost or relative price to the advantage. This ultimately leads to sustainable performance (Olio & Fay, 2012). Price competition is more about developing a value chain than it is about low prices. This value chain should be differentiated and not easily reproduced by competition. When companies imitate each other's reduces and value chain then price becomes the only dimension that customers utilize. This results in a very destructive environment.Competition should be thought of more in terms of profits rather than competing to win. Competitors are competing to capture the value an industry creates. The value is being captured by customers, suppliers, rivals, potential new rivals, and producers of replacements. Creating economic value results in sustained profitability by using resources effectively to meet customer needs. Focus Strategy. Focus strategy is when firms decide to focus on a specific segment of the market. The company may f ocus on specific customer demographic, product range, or service line.Often the focus strategy is used to grab market share that may have been overlooked or is not large enough for larger competitors. The segment must have good growth potential but be small enough to not be of great importance to competitors. Firms may utilize focus strategy as a standalone or they may bundle low cost with focus strategy. Common tactics that are employed in low cost/focus strategy include providing outstanding customer service, improving operational efficiency, quality control of products, and extensive training of front line sales and technical personnel(Akin, Allen, Helms, & Sprawls, 2006).The key to success with low cost/focus strategy is to reduce cost by creating a happy customer. Customer complaints and a failure to meet customer expectations result in higher costs through corrective actions. Low cost/focus firms must be masters of preventative action and create quality procedures that drive c ustomer satisfaction through consistently meeting customer expectations. Customer service is typically the first point of a customer engagement and can be an important component in standardizing procedures and preventing problems.If services are done right the first time the firm will save a significant amount of costly managerial time in solving problems in the future. Men's Warehouse is an example of where price and focus strategy and successfully employed. The store offers a lower priced high quality suit when compared to larger retailers, and they couple this with a high level of customer service and on site services such as tailoring. Kim et al. (2004) note that focus strategy can be very effective with online commerce. The internet allows companies to customize their products and offerings to meet the pacific wants and needs of a select group of customers.Customers see value in being directed to the specialty retailer on the internet and will pay a premium for the products or services. The internet has the ability to service both broad markets and very niche markets. Consumers have instant access to price information and product information. Internet retailers would be wise to consider focus or focus/ differentiation strategy as their primary strategic development platform. Focus/ Differentiation Strategy. Firms may also employ a focus/differentiation strategy when he firm has a unique quality focused product aimed toward a specific market segment.Common tactics employed by these firms include the production of specialty products and producing products for higher priced market segments (Akin, Allen, Helms, & Sprawls, 2006). Specialty retailers like Pier 1 accomplished the first tactic by focusing on unique high quality specialty products. These are often times imported goods that have a unique differentiator. The second tactic is employed by luxury car companies like Cadillac that can only afforded by the highest income segment of the population. Blended Strategy.An integrated strategy of price leadership and differentiation was strongly opposed by Porter (1980). He argued that these two generic strategies are fundamentally contradictory and that any firm attempting to fluctuate between the two would fail to realize the full potential of their performance. On one extreme, cost leadership requires standardization and building low cost in the value chain. One the other extreme is differentiation which almost always drives up marketing and production costs. But there is a large proportion of the literature which challenges Porter on this issue (Kim et al. 004). Most scholars agree that Porter's incompatibility argument will hold up in a stable business environment, but in the rapidly changing competitive environment that reflects the modern business world, a flexible combination of multiple strategies may be required. The internet is especially challenging in that it can disassemble traditional value chains. For example, several onlin e companies are successfully employing a diversified business strategy such as Amazon and Backbone. This issue will be discussed in more detail later in this literature review. Strategic Management FrameworksThe multitude and complexity of issues facing organizations has resulted in a wide variety of strategic management frameworks that are referenced in the literature. Each model attempts to organize issues in a way that makes management decision making more comprehensible. With each framework comes a myriad of academic scholars that have created, critiqued, or built the frameworks in positive ways. This literature review will cover two well known strategic management frameworks, SOOT and Porter's five forces. In SOOT analysis, internal strengths and weaknesses as well as external opportunities and threats are considered.Some of the most widely referenced frameworks in the literature are credited to Michael Porter. The framework that will be reviewed in this section is Porter's fiv e forces. SOOT The originator of SOOT is somewhat unclear from the literature but it was first described by Learned, Christiansen, Andrews, and Gust (1969). SOOT is often the first tool of choice for decision makers assessing alternatives and complex decisions. The use of SOOT to group external and internal business issues is a logical starting point for most management decisions.Helms and Nixon (2010) provide a more cent analysis of SOOT as a strategic planning tool and some of the limitations. SOOT is commonly used in academia and business largely due the simplicity of SOOT as well as its catchy well known name. The literature reveals that SOOT is most commonly used for business strategic planning both for individual organizations as well as for comparing two or more companies. SOOT analysis consists of examination of internal strengths and weaknesses as well as external opportunities and threats.The analysis can be quickly constructed and multiple viewpoints can be combined to pe rform a brainstorming exercise Helms et al, 2010). Internal strengths and weaknesses may include branding, organization structure, access to raw materials or natural resources, production capacity, or capital for investment. External opportunities and threats could include customers, rivals, market trends, contractors, vendors, or technology. Various environmental, political, and regulatory issues are often examined as well. The literature revealed that SOOT was the most commonly utilized strategic management tool well into the late nineties.After the year 2000, the literature is conflicted as to he value of SOOT although there are multiple researchers both for and against (Evans and Wright, 2000). Sherman, Rowley, and Armband' (2007) added steps to SOOT and came up with a seven step strategic management process to assist firms in the pre planning stages. Many researchers have coupled SOOT with various mathematical models to give it a quantitative basis versus qualitative. Most supp orters of SOOT admit that it should be combined with other strategic management tools like Porter's five forces and not used in isolation.But as with any strategic management tool, SOOT is only as good as the experts whom use it. Its greatest weakness is probably that it is a snapshot of time. The business environment is constantly changing and firms will need to constantly scan the environment and update their SOOT analysis (Helms et al. , 2010). In the next section we will explore another widely used strategic management model developed by Michael Porter. Porter's Five Forces Porter is most well known for the association of competition with the firm and its external environment.Porter felt that corporate strategy should meet the threats and opportunities in the external environment Ellen, 2009). Porter identified five nominative forces that he claims are the key to shaping every industry and every market (Porter, 1980). By studying and understanding these forces, a firm should be able to determine the level of competition and therefore the attractiveness and potential profitability of a market. Porter's five forces analysis framework is primarily used for industry level analysis Ellen, 2009). Five forces were first discussed by Porter in his publication titled Competitive Strategy (Porter, 1980).The five forces are threats from competitors, buyer power, supplier power, threat of new entrants, and alternative products. The strength of these collective forces decides the amount of profit potential available to rivals in an industry. Unfortunately the literature reveals that the application of the five forces may not be straight forward and even Porter (2008) has been disappointed with its misapplication. Five forces analysis should not only be used to determine if an industry is attractive or not, but it should be a primary tool to unravel the complexity of competition and improve performance (Olio & Fay, 2012).Dobbs (2014) discusses some of the challenges tha t are faced by managers when they attempt to apply the five forces. These include a lack of depth, lack of structured analysis, lack of strategic insight, and millennial generation preferences. Many people use the five forces analysis in a superficial way and this leads to inaccurate and incomplete analysis. This may largely be due the lack of in depth study given to MBA students. The lack of quantitative measures in the five forces framework may be a limiting factor in many cases. Most applications of five forces consist of lists which make poor substitutes for in depth analysis.Olio and Fay noted that five forces analysis should not only be used to determine if an industry is attractive or not, but it should be a primary tool to unravel the complexity of competition and improve performance. With the rise of the millennial generation in 2010, Dobbs (2014) noted that the five forces framework must be modified in order to accommodate the technology vigor and analysis preferred by thi s generation. Akin, Allen, Helms, and Sprawls (2006) contend that the literature is missing information on the tactics that are needed in order to implement Porter's strategies.Several researchers have proposed models to be used to better apply the five forces. In Akin et al. s (2006) study, the authors researched over 200 companies to develop a set of key tactics that could be used to implement Porter's generic strategies and drive organization performance. Dobbs (2014) provides a practical template that provides good comprehension and ease of use. The models have proved very beneficial in the classroom setting in terms of driving higher levels of strategic insight and industry analysis.Diversity and Shared Value Building market share can also be influenced by diversification in the workforce and acknowledgement of a preference for products that are made and sold by companies with similar cultural heritage. This is largely due to the diversification of the customer base which cross es many borders, cultures, and ethnic groups. Hiring a diverse workforce and drawing in a culturally diverse customer base is critical to success. This group of consumers is growing at a much faster rate than the rest of the US population.The US welcomes nearly one million new immigrants into the country every year. These people come from different backgrounds, nationalities and ethnicities and they are learning how to work in an unfamiliar culture. Ramifies (2010) reported that the challenges are immense for immigrants as they try and maintain a nation connection to their home country as well as try and adapt to their host country. The pressure that results drives individuals to be more inventive and productive. The force is very powerful and one of the reasons why immigrants do so well in start up businesses in the US.They develop a comfort level with uncertainty and risk that allows them to drive performance. Despite the advantages of diversity most companies fall short on divers ity thought and leadership. In fact, half of companies operating in 25 countries or more, reported only having one or two foreign nationals on their boards. Yet they cited global experience as one of the most important factors in terms of selecting board members. Managers that understand and take advantage of diversity into their strategy will have a distinct competitive advantage.Developing a global company that appeals to a global customer is extremely important in developing strategy. In work done by Watson and Wright (2000), the authors looked into the country of origin effect. This â€Å"made in† concept has to do with the attitudes and buying behaviors of consumers for foreign made goods. This is also known as ethnocentrism. Research has proved that the â€Å"made in† concept has as a very strong influence on buying behaviors. These behaviors can override other more practical factors such as brand name, quality, or price.A tactic that is commonly employed is to m arket the country of origin information with the product. For example, a Chinese American may have a preference for Chinese manufactured products over US manufacturing products. Shared Value Porter and Kramer (2011) discuss the concept of the shared value which focuses on improving the connections between society, the economy as well as corporate growth and profitability. The economic collapse of the last decade contributed to frustration with corporations as companies in the banking sector were largely blamed for causing the failed economy though risky lending practices.Firms have begun to realize that social harms and weaknesses frequently create internal costs for the firm in wasted energy costs and costly accidents. As a result many large firms have begun to embrace the concept of shared value and have started to see some rewards in terms of public opinion and profitability. Companies and their communities are intertwined since companies need the consumers and the raw trials fro m their communities, while the people in the communities need the wages and opportunity offered by the firm.This interdependence or shared value has the potential to unlock the next wave of growth and innovation for companies if incorporated into their strategic plans. Regulation and the Porter Hypothesis No review of strategic management would be complete without a discussion on the impact of regulation on business. Regulation has become an increasing concern for business leaders as they develop strategy and decide on how best to allocate resources. There are also political implications since government regulators have the power to influence market dynamics between rivals as well as between countries.Generally economists, politicians, and business leaders see increasing regulation as an economic challenge which erodes global competitiveness. But Porter (1991) argued that well designed regulation could be a competitive advantage if properly managed. This concept is frequently refere nced in the literature as the Porter Hypothesis. Researchers frequently use the Porter Hypothesis to help understand the links between regulation, competitiveness, and innovation. Porter (1991) andClass van deer Lined (Porter & van deer Lined,AAA) argued that pollution was an example of wasted resources and that by reducing pollution, productivity could be improved. They felt that properly designed environmental regulation would help drive innovation and would more than offset the additional cost of implementing regulation. Porter brought these concepts to mainstream businesses and policy and has revolutionized how strategic management deals with the impact of environmental or other regulation. Porter et al (AAA) explained five reasons why they thought innovation offsets any negatives created by regulation.