Concepts of Throughput Accounting and Theory of Constraints

Financial Management

Kaizen – Understanding the Japanese Business Philosophy of Continuous Improvement

Operations Management

Role of Leaders in Shaping Organizational Culture

Management Principles

Organizational Culture – Development and Importance

Management Principles

Five Important Organizational Cultural Models

Management Principles

Workplace Cooperation – Cooperation in the Workplace and Knowledge Sharing

Cooperation in the workplace refers to a situation in which the workers and managers resolve their issues of common concern, through discussions and consultations. Workplace cooperation has a number of characteristics, for example; it is a voluntary process in which the employees and the employer choose to work together as one team. In this team, each of them places a greater emphasis on the success of their relationship and the building of the company as opposed to emphasis on their individual rights in the company. Workplace cooperation can be supported by a legal framework which can either be facilitative or prescriptive. Workplace cooperation involves open communication where the employer and his employees talk to one another, listen to one another and even share information together. Cooperation in the workplace also aims at coming up with a common approach that is acceptable to both the workers and the management in the company Continue reading

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The ADKAR Model of Change Management

Change management can be characterized as the procedure of altering or changing one or more angles of an association utilizing a planned system. Change management includes the implementation of one or more techniques, which organizations use to increment effectiveness and acquire their objectives. Theorists have provided different concepts of change management simply to understand the framework according to which organizations manage and lead change. The Prosci ADKAR model is one of the best approaches introduced several years ago to support change in companies through the prism of its five major elements, namely awareness, desire, knowledge, ability, and reinforcement. The progress of the ADKAR model is evident today due to its evident advantages and the possibility to facilitate working processes. Prosci’s ADKAR Model of Change Management Prosci’s ADKAR Model is a goal-oriented change management model that guides individual and organizational change. Created by Prosci founder Jeff Hiatt, ADKAR is an acronym Continue reading

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Case Study: Starbucks Resilient Turnaround Under Howard Schultz in 2008

Founded in 1971 in Seattle, Starbucks had grown to become a respected global brand, present in 50 states in the US and 43 countries. However, its premium pricing was a considerable disadvantage during the economic slowdown. By March 2008, Starbucks had to close 600 underperforming stores, and its profit had plummeted by 28% compared to the same period in 2007. The following year saw another 300 store closures and 6,700 employees laid off. On January 8, 2008, Howard D. Schultz returned as CEO, taking over from Jim Donald. Schultz, who had been with Starbucks since 1982 and previously served as CEO from 1987 to 2000, found that rapid expansion had diverted the company’s focus from creating inviting cafes and developing new products. In 2007, several factors stood behind Starbucks’ decline, among which one might note a loss of human connection. Howard Schultz observed that the company steadily lost its connection Continue reading

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Case Study on Business Ethics: Ethical Challenges Faced by Nike

Nike Inc. is a multinational American organisation that is known for its ability to design, manufacture and sell footwear-based products, gym accessories and sporting goods. Thus, Nike is considered as one of the largest shoe retailers worldwide, controlling approximately 36% of shoe market. With a revenue of $30 billion in 2015 alone, Nike was acknowledged as the 18th most valuable brand employing over 600,000 workers worldwide. It is, therefore, this which has given Nike the ability to open stores globally. Despite the organisations growing success, Nike has been inundated with criticism since the 1990s regarding the unethical treatment of employees overseas and its impact on the environment. As well as this, there is evidence to suggest that Nike has failed to meet consumer/stakeholder needs in relation to corporate social responsibility; therefore, reducing customer-brand loyalty and consumer trust. Regardless of the effort put in place to overcome these issues, Nike still Continue reading

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The Kübler-Ross Change Curve Model

Kübler-Ross’ Five Stage Change Curve Model, also known as the Kübler-Ross Change Model or the Change Curve, is a framework that outlines the emotional stages individuals typically go through when facing significant change. The Change Curve is based on a model originally developed in the 1960s by Dr. Elisabeth Kubler-Ross to explain the grieving process. Since then it has been widely utilized as a method of helping people understand their reactions to significant change or upheaval. Kubler-Ross proposed that a terminally ill patient would progress through five stages of grief when informed of their illness. She further proposed that this model could be applied to any dramatic life changing situation and, by the 1980s, the Change Curve was a firm fixture in change management circles. The curve, and its associated emotions, can be used to predict how performance is likely to be affected by the announcement and subsequent implementation of a Continue reading

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Case Study: Alliance between Swatch and Mercedes Benz

The process of making Smart car started in 1994 after a deal was sealed between Daimler-Benz, maker of Mercedes-Benz and Swatch, Swiss watchmaker. A joint venture of the two companies created a firm known as Micro Compact Car AG whose headquarters were located in Biel, Switzerland. After announcing the deal, three co-directors were appointed to head the new company, which was later to be known simply as the ‘Smart’ after moving to Germany from Biel. The directors were engineer and designer Johan Tomforde and financial administrator Christopher Baubin from Daimler-Benz and swatch marketing manager Hans Jurg Schar. SMH (makers of the swatch watches) contributed 49% of the initial capital of 50 million Swiss francs while Daimler-Benz contributed the remaining 51%. The company comprised of two branches namely MCC GmbH based in a suburb of Stuttgart known as Renningen charged with the responsibility of designing the car. Hayek’s SMH Auto SA, was to Continue reading

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