The document discusses five key environmental factors that affect multinational corporations: competitors, creditors, customers, labor market, and suppliers. It explains how each of these factors can influence a company's strategy and ability to compete. The document also discusses four additional external factors: the economy, politics, society, and technology. It emphasizes that corporate leaders must understand how these environmental factors impact their business and account for them when planning strategy.
The analysis found a statistically significant relationship between a more diverse leadership and better financial performance. The companies in the top quartile of gender diversity were 15 percent more likely to have financial returns that were above their national industry median. Companies in the top quartile of racial/ethnic diversity
were 30 percent more likely to have financial returns above their national industry median. Companies in the bottom quartile for both gender and ethnicity/race were statistically less likely to achieve above-average financial returns than the average companies in the dataset
Assignment 3 Case StudyE-Business Strategy and Models in B.docxbraycarissa250
Assignment 3: Case Study
E-Business Strategy and Models in Banks: Case of Citibank
Bank is an institution that deals with money as well as credit. It accepts deposits from the public, makes funds available to those who need then and helps in remittance of money from one place to another (Macesich, George, 2000, p-42). Modern banks today perform a wide range of functions that makes it difficult to give an apt and precise definition of it. One of the famous economists, Crowther had said, a bank “collects money from those who have it to spare or who are saving it out of their incomes, and lends this money to those who require it”. In short, the term bank in modern times refers to an institution that deals with money i.e. accepts deposits and advances loans; has the ability to create credit which basically implies expanding its liabilities as a multiple of its reserves; creates demand deposits and it is a commercial institution that aims at securing profits.
Citibank is a subsidiary of Citigroup. Citibank was founded as City Bank of New York in the year 1918. According to the latest statistics, it is now the third largest bank holding company in the United States by the total assets after Bank of America and JP Morgan Chase. The bank has its retail banking operations spread over more than 100 countries and territories around the world (Harold, Cleveland & Huertas, 1985). Apart from the standard banking transactions, Citibank offers credit cards, insurance and other investment products. Their online services have earned them appreciation from every nook and corner, making them the most successful in the field. The 15 million online users bear testimony to the stated fact. The key people involved in the management of the bank are: Vikram Pandit (CEO), John Gerspach (CFO), Douglas Peterson (COO) and Willliam R. Rhodes, the Chairman.
Strategy literally means the way an action is planned to achieve the desired results. Every company has certain aims that it hopes to conquer. It has a vivid description of what it desires to achieve. The vision statement that company has is an idealized picture which inspires it, energizes its efforts towards directing its actions towards the expected goals (Hambrick and Chen, 2007, p 935-955). Strategic Decision Making, in context of a firm or an organization, is the framing of long term plan of action that aims at resulting in success and profits for the products and services marketed by the company, for instance (Triantaphyllou, 2000, p 320). Strategic decision making is important to outperform the various other competitors in the market. The process of determining appropriate courses of action for achieving organizational objectives and thereby accomplishing organizational purpose is known as Strategy formulation. In today’s era of cut-throat competition in the business environment budget-oriented planning or forecast-based planning methods are insufficient for a large corporation to survive and prosper. The firm ...
The analysis found a statistically significant relationship between a more diverse leadership and better financial performance. The companies in the top quartile of gender diversity were 15 percent more likely to have financial returns that were above their national industry median. Companies in the top quartile of racial/ethnic diversity
were 30 percent more likely to have financial returns above their national industry median. Companies in the bottom quartile for both gender and ethnicity/race were statistically less likely to achieve above-average financial returns than the average companies in the dataset
Assignment 3 Case StudyE-Business Strategy and Models in B.docxbraycarissa250
Assignment 3: Case Study
E-Business Strategy and Models in Banks: Case of Citibank
Bank is an institution that deals with money as well as credit. It accepts deposits from the public, makes funds available to those who need then and helps in remittance of money from one place to another (Macesich, George, 2000, p-42). Modern banks today perform a wide range of functions that makes it difficult to give an apt and precise definition of it. One of the famous economists, Crowther had said, a bank “collects money from those who have it to spare or who are saving it out of their incomes, and lends this money to those who require it”. In short, the term bank in modern times refers to an institution that deals with money i.e. accepts deposits and advances loans; has the ability to create credit which basically implies expanding its liabilities as a multiple of its reserves; creates demand deposits and it is a commercial institution that aims at securing profits.
Citibank is a subsidiary of Citigroup. Citibank was founded as City Bank of New York in the year 1918. According to the latest statistics, it is now the third largest bank holding company in the United States by the total assets after Bank of America and JP Morgan Chase. The bank has its retail banking operations spread over more than 100 countries and territories around the world (Harold, Cleveland & Huertas, 1985). Apart from the standard banking transactions, Citibank offers credit cards, insurance and other investment products. Their online services have earned them appreciation from every nook and corner, making them the most successful in the field. The 15 million online users bear testimony to the stated fact. The key people involved in the management of the bank are: Vikram Pandit (CEO), John Gerspach (CFO), Douglas Peterson (COO) and Willliam R. Rhodes, the Chairman.
Strategy literally means the way an action is planned to achieve the desired results. Every company has certain aims that it hopes to conquer. It has a vivid description of what it desires to achieve. The vision statement that company has is an idealized picture which inspires it, energizes its efforts towards directing its actions towards the expected goals (Hambrick and Chen, 2007, p 935-955). Strategic Decision Making, in context of a firm or an organization, is the framing of long term plan of action that aims at resulting in success and profits for the products and services marketed by the company, for instance (Triantaphyllou, 2000, p 320). Strategic decision making is important to outperform the various other competitors in the market. The process of determining appropriate courses of action for achieving organizational objectives and thereby accomplishing organizational purpose is known as Strategy formulation. In today’s era of cut-throat competition in the business environment budget-oriented planning or forecast-based planning methods are insufficient for a large corporation to survive and prosper. The firm ...
Strategic Management in Dynamic EnvironmentsStrategy Compositi.docxflorriezhamphrey3065
Strategic Management in Dynamic Environments
Strategy Composition (3-4 Pages)
Deborah enters your office, and you notice that she looks apprehensive. “Hi, Deborah. What’s up?” you ask, hoping that nothing is wrong.
“Well, your team is doing an excellent job researching, and you’ve been keeping me up-to-date on your findings. My concern is that we are approaching this from a narrow-minded approach.”
“How so?” You ask. You are puzzled. “Our team has been looking at every aspect of the company and considering both internal and external pros and cons.”
“We need your findings put into some kind of management system so we can really see where we are headed regarding our global expansion. I think we need to cover our bases here. Please report back to me next week with your thinking put into a framework.”
Complete the following:
· A balanced scorecard suggests that we view the organization from four perspectives (the learning & growth perspective, the business process perspective, the customer perspective, and the financial perspective). Briefly discuss these four perspectives analyzing what each means to your organization? Based on this analysis:
· What other strategies would be a good fit for your company profile?
· Provide a brief overview of these strategies.
· Why is it important to have more than one strategy in mind when pursuing global expansion?
· The materials found in the M.U.S.E. may help you with this assignment such as the audio file Choosing a Strategy. This file provides real-world experience that may help you with this assignment. In addition to your textbook material, here are a few resources that may help you learn more about the basics of the balanced scorecard:
· http://balancedscorecard.org/Resources/About-the-Balanced-Scorecard
· http://ap-institute.com/kpi-white-papers/what-is-a-modern-balanced-scorecard.aspx
You decide that Deborah has brought up another good point that should have been discussed in the beginning of the project. You make a note to add this to a list of project management ideas to help make future projects go smoother.
Complete the following:
· What other strategies would be a good fit for your company profile?
· Provide a brief overview of these strategies.
· Why is it important to have more than one strategy in mind when pursuing global expansion?
The materials found in the M.U.S.E. may help you with this assignment such as the audio file Choosing a Strategy. This file provides real-world experience that may help you with this assignment. (See BELOW for M.U.S.E.)
MU SE STUFF: The Benefits, Costs, and Risks of Doing Business in Another Country
The potential benefits, costs, and risks of doing business in a country are partly a function of its political and legal systems. A political system includes the structures, processes, and activities by which a nation governs itself. It is important for managers to understand whether a political system is characterized by wide or narrow participation because it forms.
Assignment Social Media Strategy for Competitive Advantage .docxrock73
Assignment: Social Media Strategy for Competitive Advantage
Winer (2011) suggests an important feature of services is that because they are often distributed by people, their quality
may be inconsistent at different points in time. Many services companies are seeking new methods to distinguish
themselves from the competition. The Internet and information technology have provided robust, tangible opportunities
for such differentiation.
Using the Nord, Paliszkiewicz and Koohang article in the readings and one additional source from the KU Library, write a
persuasive essay on how organizations in the tax services industry can rethink their social media strategy to gain
competitive advantage.
Your essay should make use of explanation to demonstrate that one proposal is more reasonable than another idea. A
persuasive essay tries to convince a reader to accept a definite point of view. Your paper should range between 2–3
pages of content and include in-text citations for references.
Submit your APA formatted and citation styled paper to the Unit 9 Assignment Dropbox.
[ M T 4 50 : M a r k e t i n g M a n a g e me n t ]
Assignment Unit 9
Unit 9 Assignment Grading Rubric 40
Possible
Points
Specific Paper Objectives: Assignment Checklist
(80%):
Write a persuasive essay on how organizations in the
tax services industry can rethink their social strategy to
gain competitive advantage
32
32
Writing Style, Grammar, APA (20%)
Grammar and Spelling 3
Paper is 2–3 pages in length and responses are
concise and direct 3
Reference list and citations are provided 2
8
Making the case for the competitive
advantage of corporate social
responsibility
Alan D. Smith
C
ompanies have an obvious obligation to serve their shareholders. Owners trust firms
to manage their investment and produce returns. However, stockholders are not the
only party with an interest in a firm’s activities. Firms affect numerous groups and
individuals, both internally and externally, engendering a realm of responsibility far beyond
the positive economic returns demanded by shareholders. Corporate social responsibility
(CSR) defines organizational consideration of multiple stakeholders and global impact,
beyond simple focus on maximization of shareholder wealth.
CSR encompasses a wide range of stakeholders. Pearce and Robinson (2005) delineated
internal and external parties, including shareholders, employees, creditors, customers,
suppliers, governments, unions, competitors, local communities, and the general public.
Some obligations are obvious, such as the obligation of the firm to serve the financial
interests of shareholders and provide employee satisfaction.
But other obligations are not as apparent, such as the firm’s obligation to reduce pollution,
educate consumers, or consume supplies in a timely manner. All affected parties claim some
responsibility of the ...
Running Head ECONOMICS AND ADMINISTRATION1ECONOMICS AND ADMI.docxtodd271
Running Head: ECONOMICS AND ADMINISTRATION 1
ECONOMICS AND ADMINISTRATION 5
ECONOMICS AND ADMINISTRATION
Khalia Hart
Dr. Touhey
MGMT 640 – Financial Decision Making for Managers
March 31, 2019
EXECUTIVE SUMMARY
For the success of every business, there needs to be a strong supporting factor that enforces success. The success of a business indicates that the structure of decision making is tough, strict but at the same time lenient to staff and more importantly customers. Financial management is a very vital factor to consider while engaging in any business activity. Not only is it concerned about customers and staff, but also affects every aspect of the business from managing cash flow and maintaining performance index to developing plans to ensure maximum use of opportunities by business owners. Stakeholders and business owners need to realize the importance of financial management as a tool in business administration since it is the force that ensures continuous development of financial capabilities needed for a business to achieve its full potential.
The macro-economic environment addresses issues concerning behavior. Here are where aAdministrative issues lie. Administration can be categorized into two main categories, administration as a practice and as a science. Administration as a practice mainly addresses the normal routine of business owners and managers and their normal administrative roles in any business entity. Administration as a scientific field is bound to face challenges which are broken down into four main classes. They are discussed fully in this document.
Factors that affect administrative decisions include globalization, cost of control, the relationship between stakeholders and demand on ethical behavior and corporate responsibility. Administrations in different organizations should always be keen to ensure that the named issues are always put under the eye . These factors can greatly affect the performance of a business entity as shall be discussed in this document. Comment by debra touhey: Good start, Khalia. The Executive Summary should explain the problems at hand with potential solutions to those problems. Here is a good reference on writing Executive Summaries:
https://www.inc.com/guides/2010/09/how-to-write-an-executive-summary.html
INTRODUCTION
Since time immemorial, business has always been a very important factor in society. To date, business transactions take place daily through the various business entities that have been established. In the modern world, however, various guidelines, strategies, and tools have been established to ensure that business practices go on smoothly (Robert et al., 2004). Comment by debra touhey: A little too informal for graduate writing
One of the practices that have been developed to ensure maximum productivity in the various entities that have been established, is financial management. The financial management function allows for the planning, organizing, monitori.
Thanks to all my readers. It gives boost when I get calls from my readers and am always happy to revert back to my followers and readers. I am sorry if I am unable to reply to all the e-mails due to my busy schedule.
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Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
How to Split Bills in the Odoo 17 POS ModuleCeline George
Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
How to Create Map Views in the Odoo 17 ERPCeline George
The map views are useful for providing a geographical representation of data. They allow users to visualize and analyze the data in a more intuitive manner.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
This is a presentation by Dada Robert in a Your Skill Boost masterclass organised by the Excellence Foundation for South Sudan (EFSS) on Saturday, the 25th and Sunday, the 26th of May 2024.
He discussed the concept of quality improvement, emphasizing its applicability to various aspects of life, including personal, project, and program improvements. He defined quality as doing the right thing at the right time in the right way to achieve the best possible results and discussed the concept of the "gap" between what we know and what we do, and how this gap represents the areas we need to improve. He explained the scientific approach to quality improvement, which involves systematic performance analysis, testing and learning, and implementing change ideas. He also highlighted the importance of client focus and a team approach to quality improvement.
Students, digital devices and success - Andreas Schleicher - 27 May 2024..pptxEduSkills OECD
Andreas Schleicher presents at the OECD webinar ‘Digital devices in schools: detrimental distraction or secret to success?’ on 27 May 2024. The presentation was based on findings from PISA 2022 results and the webinar helped launch the PISA in Focus ‘Managing screen time: How to protect and equip students against distraction’ https://www.oecd-ilibrary.org/education/managing-screen-time_7c225af4-en and the OECD Education Policy Perspective ‘Students, digital devices and success’ can be found here - https://oe.cd/il/5yV
The Art Pastor's Guide to Sabbath | Steve ThomasonSteve Thomason
What is the purpose of the Sabbath Law in the Torah. It is interesting to compare how the context of the law shifts from Exodus to Deuteronomy. Who gets to rest, and why?
1. Assignment on Environmental Factor Affects <br />Submitted To<br />Name: <br />Lecturer in <br />Darul Ihsan University<br />Submitted By<br />Name: A.S.M. Muktadir Rahaman<br />Roll: 33117<br />Batch: 33rd C<br />Darul Ihsan University<br />Date: 15th February 2011<br />Environmental factor affects on Multinational Corporation<br />Many leaders have catchy slogans on their desks; many have learned to believe in them (Giuliani, 2002, p 69). Organizations that promote learning are better equipped to handle the ever-changing business environment. Retailers are no different. When an organization’s leadership plans for the future it must take into account principle environmental factors. A company’s ability to compete will be affected by how well the leaders have learned to identify those factors, to demonstrate their company’s significance, and to estimate the extent or magnitude of each of the factor’s impact on the corporate strategy. In this paper, I discuss the five principle environmental factors as cited by Pearce and Robinson (2002). Further, I indicate the significance of environmental factors on the overall business strategy; discuss the two factors that enable<br />Leadership to understand the extent of the overall strategy on their company’s market position and lastly I discuss the impact of four external factors on the internal environment.<br />Environmental Factors<br />Competitors<br />Every business has external peers that perform similar functions within their professional discipline. These peers are considered competitors and they are rival producers of goods or services. These competitors contribute to the overall industry by their ability to deliver goods and services of high caliber at competitive prices. Competition is good from a market perspective as it gives consumers choices and provides the businesses and opportunity to create a niche. In Ellis’ Fast Company article (2002), he cites six strategies to apply in strategy formulation. Number 4, understands your competition’s weakness and then exploits it. He cites Blockbusters late fee drill as an example of how a new competitor, Netflix, could influence customers to try their product over Blockbuster. With Netflix, there are no late fees, and you can keep a movie for as long as you like. Competitors are purchased as a strategic move to gain market share for example in Chainstoreage.com article (2004) “Whole Foods<br />Market, Inc is cited spending $38 million in stock to acquire Fresh and Wild Holdings Ltd, a U.K. natural and organic food chain.”<br />Creditors<br />Most businesses purchases goods and services much like a consumer. However, they do so to large extent on credit as they are able to get discounts or other incentives to buy in bulk. When businesses buy goods and services on credit the business that holds the note or paper is referred to as a creditor. A firm’s power and prestige in domestic markets may be significantly enhanced with the right credit resources. Enhanced prestige can translate into a better negotiating position with other creditors, suppliers, distributors and other important groups (David, n.d.).<br />Customers<br />Customers are an essential part of any business, without the customer there would be no need for the business. Regardless of the product or service provided, a business must be able to leverage their marketing and production to ensure they satisfy consumer demand. Hammonds (2003) cites Zuboff and Maxmin (2000) in his Fast Company article “People, have changed more than the commercial organizations. A new opportunity is found in that chasm that separates individuals and organizations. In it lies the key to a new economic order with vast opportunities. Companies that learned to change with their customers will benefit from expanding consumer confidence and increased buying.<br />Labor Market<br />Just as customers are a key element of business success so are the employees that an organization hires to represent their interests. Having quality human resources is very important. The lack of talented people can cripple a company and foster a negative customer experience, which could potentially lead to customer dissatisfaction. To grasp the impact of company’s employee turnover level, you must first have a sense for the performance levels of the leavers and whether you could have had any influence over an employee’s decision to depart. However, in these times of high employee mobility and two-career couples, some employees may leave a firm for reasons unrelated to their jobs (Becker, Huselid & Ulrich, 2001, p 98). Turnover is one reason organizations must tap into the labor market to fill open positions. A strategic Human Resources partner can be a key asset in developing a plan to address future employee needs. <br />Suppliers<br />The role of the supplier is similar to that of the creditor in that the business is relying on a third party to supply customer demand. In the case of the supplier an organization could be procuring parts, services or other tangible goods to create or enhance a product or service for sale. Bargaining power of suppliers affects their ability to raise prices. Suppliers are likely to be powerful if: they have few competitors, each individual purchase represents only a small amount of their company’s sales, there are not good substitutes of the product purchased, and the product or service is unique (Dobbins, n.d). Suppliers play a key role in such transactions; poor production or planning could devastate the sale of a business. <br />Economic<br />The economy has a significant impact on the viability of a corporate strategy. For example in retail, if Florida has an ice storm in the winter and all orange crops are destroyed, the price of oranges and orange juice will increase. This is a small example of how one localized disaster can affect the price of a commodity. According to Develop Vision and Strategy (n.d.), a micro level assessment considers the industry and market in which a company competes, the customers who purchase its products, the competitors, and competition who threaten it, and the suppliers on which depends. On a larger scale, if the business plan is not successful and the firm sustains losses over multiple business cycles, the management may reduce staff as a means to lower expenses. The reduction in workforce increases the local unemployment, which has the ability to negatively influence revenues and the tax base of a local economy.<br />Political<br />The current political climate can influence the types of legislation that can influence corporate spending or tariffs on goods and services. Political factors can be restrictive or beneficial. Restrictive factors are those factors that limit profits; such as constraints placed on enterprise through fair-trade laws, antitrust laws, tax laws, minimum wage legislation or pollution laws as cited in Develop Vision and Strategy (n.d.) and Pearce and Robinson, (1985). Examples of this would be luxury taxes on big-ticket items or capital gains taxes. Governmental influences are of particular interest to those enterprises that operate in foreign countries where the political environment is volatile and information is scarce.<br />Social<br />Certo (1997, p. 51) defines social responsibility as a managerial obligation to take actions that protects and improves both the welfare of society as whole and the interests of the organization. In recent years there have been multiple corporate ethical issues that<br />Have influenced social views on corporate America. The number of high profile scandals, from Enron to MCI WorldCom, has adversely affected public’s perception of corporate strategy as it relates to decisions that affect shareholder and employee interests.<br />Technological<br />Technology factors are the scientific advances, which influence the competitive position of the enterprise. Maintaining awareness of new technologies decreases the probability of becoming obsolete and promotes innovation. Advancements in technology can impact the transformation plan in many ways. New technology as cited in Develop Vision and Strategy (n.d.) can change the demand for a product, render current manufacturing processes obsolete, and reduce costs to undercut competitors, produce new products and a host of other possibilities.<br />Conclusion<br />According to Pearce and Robinson (2002), the external environment of a business consists of two interrelated sets of variables that play a principal role in determining the opportunities, threats and constraints that a firm faces. Variables originating beyond and usually irrespective of any single firms operating situation (economic, political, social and technological forces) form the external environment. Variables influencing a firm’s immediate competitive situation (competitive position, customer base, suppliers, creditors, and labor market) constitute the external operating environment. These two sets of forces provide many of the challenges faced by a particular firm in attempting to attract or acquire needed resources, and when striving to profitably market its goods and services.<br />References<br />Becker, B., Huselid, M., & Ulrich, D. (2001). The hr Scorecard: Linking people, strategy, and performance. <br />Boston: Harvard Business School Press.<br />Certo, S. (1997). Modern management. Upper Saddle River, NJ: Prentice Hall.<br />Ellis, J. (2002). Strategy [Electronic Version]. <br />Fast Company, 64, 66. Retrieved August 25, 2003, from http://www.fastcompany.com/magazine/64/jellis.html.<br />David, F. (n.d.). Strategic management: Comparing business and military strategy.<br />Retrieved August 30, 2003, from Yahoo.com via<br />http://myphilip1.pearsoncmg.com/abdemo/abpage.cfm?vbcid=3166&vid=1211.<br />Develop Vision & Strategy. (n.d.). Retrieved August 31, 2003, from<br />http://arr.uta.edu/eif/dru_diss/a13_tx.html<br />Dobbins, C. (n.d). Strategic planning: External environmental scanning. Retrieved<br />August 28, 2003, Purdue University, Center for Food and Agricultural Business<br />Website: http://www.agecon.purdue.edu/extension/sbpcp/resources/escan.pdf<br />