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In today's business world, companies are forced to make quick decisions involving large amounts of capital and labor. The risk involved in such decisions is substantial, as firm leaders are forced to constantly evaluate their company's position and search for new ways of updating developments. Normally when facing financial crisis, a corporation's solution is reducing input costs while increasing its output volume by implementing cost-cutting strategies such us outsourcing or laying off employees. Every corporation is different and has its own unique corporate culture so cost-cutting may not be the most appropriate solution to each company¡¦s problems. A successful corporation should always put the shareholders in priority as any company's policy changing or decision making may significantly affect the shareholders' right. Who are the shareholders? They are the customers, employees, and stockholders who are the important human factors to decide the success or failure of an organization.
Harrison-Keyes Inc. (HK), known for its quality products, was once the leading organization in the publishing industry worldwide. HK is a global publisher specializing in scientific, technical, and business books and journals; professional and consumer book, and textbooks and other educational materials for undergraduate and graduate students as well as lifelong learners. 40% of HK¡¦s revenues are generated from its sales offices in Europe, Asia and Latin America. Yet as the e-publishing is becoming more and more popular, HK is starting to experience reduced sales, declined market share and profitability in
the print markets. HK is under the economic pressure and facing the biggest business crisis it has ever been facing. The leaders of the organization have to make a number of key decisions in order to turn the situation around.
Externally, HK is facing several challenges. First, the stock holders¡¦ confidence is fading as the company¡¦s stock value went down 12% from 50% to 38% in less than a decade. Second, HK¡¦s old technique is being challenged as the traditional printing business is facing a higher operation cost compare to the e-publishing and forecast is not looking well to the stockholders. Third, the company is losing its market share to its competitors in both traditional publishing and e-book business. The independent booksellers as HK are being edged out by superstores as the superstores offer mega discounts and no-question-asked return policies to the customers, therefore HK are being forced to consolidate its distribution channels and cut down the profit to the bone.
A shareholder is anyone who owns shares in an organisation’s company. Shareholders profit if the organisation performs well while if the organisation performs poorly a shareholder stands to lose (Investopia). The impact of BHP Billiton on shareholders with the expansion of the Olympic Dam Mine is that the expansion is going to cost over 200 million US dollars with a majority of this coming from shareholder contributions. If the expansion does not generate a high enough revenue the shareholders are at risk of not being repaid in the form of
New businesses will take longer to thrive with the United States falling economy. The faltering job market and the deepening slump in housing threaten to hurt consumer spending. Consumers are becoming more conscious of their spending and therefore using cash to pay for smaller necessary purchases. The cost of entertainment and other presumed luxuries may be pushed to the background by most families, when having to choose whether to pay for a bill or treat the family out. Thriving businesses will understand the need to provide a service or product at affordable prices.
Hi my name is Brandy Miller. I am taking Fundamentals of Management class. I have a questions about assessment 1. In the Strategic Alignment Worksheet #5. It says Create a new organizational chart for human resources functional area. Do you want us to develop a chart. Can you give me further direction on this area.
Background Information In implementing a strategic plan for Coastal Medical Center, our consulting team has conducted many analyses and formed numerous strategies in order for Coastal Medical Center to be successful. Such assessments include an internal analysis, external analysis, gap analysis, and SWOT analysis. In conducting these analyses, our consulting team was able to better understand the internal environment, external environment, where the organization currently stands in terms of performance, and the major strengths, weaknesses, opportunities and threats that oppose the Coastal Medical Center. From our inquiry, we will be able to establish a strategic plan that best fits the organization’s needs.
To do this, we can consider each of the groups of people mentioned earlier, as stakeholders, and how they affect the corporation individually. First, the suppliers of a corporation can be thought of as one of the most vital parts of the corporation as stakeholders, because without them, the corporation would not have the materials needed to provide their products and services. Customers, as stakeholders, are the driving force behind the corporation’s production, because the demand for the products is what supports the corporation, allowing it to continue business and grow. The employees of a corporation are also a vital group as stakeholders because without them, there would simply be no way to efficiently manage a corporation. The employees see the every day workings of the corporations, and often are the source of progress and improvement in the corporation as they see the inner workings of the business on a daily basis.
After analyzing the Coastal Medical Center, it is apparent that the employees and staff have no conception of the mission, vision, and values of this health care facility. In addition to this lack of structure, CMC has many projects in the midst of production that lack support of a common goal, employees are unsatisfied with their jobs, the two boards lack ability to agree on strategic decisions for the organization,, and the medical center has a dismal reputation when it comes to quality care.
In contrast , the shareholder theory organisations or organisation's decision-makers only have the responsibility to their shareholders by increasing the organisation profits and should only make the decisions to increase as much as possib...
Exploration of the Manager’s Responsibility and the Role of Stakeholders Most scholarship on corporate governance in the last two decades has focused on the relationships between shareholders and managers. Some people think :“ A manager’s responsibility should be to the shareholders alone”, but in my opinion manager have the responsibility to all of the stakeholders, which a group with a direct interest in the way on organization is performing and action it takes, include the firm’s employees, shareholders, customers, suppliers and local community. In a company managing for value, the company’s goal is to deliver value to shareholders. This does not imply that the company is managed for value to harm or exclusion of the customers, the employees, or other important consists. Manger delivers maximum profits return to the shareholders while balancing the interests of the other important constituents, including customers and employees.
With this opportunity in rise Kinko´s faces a decision with huge transformation as an organization, meaning restructuring, departments, operations and service functions. Accordingly this decision faces another issue: timing. Either they start pursing the challenge now or lose the opportunity of being first mover advantage and differentiate themselves in the niche market, allowing them to stick key corporate accounts or they might give the preferential occasion to another fast growing market : self owned machines provided by (what they believe is their competition) Xerox and IKON. But where they really providing their same solution? Maybe as an overall outcome (or product), but what they are not providing is Kinko´s Service Solution. This is where Kinko´s can and need to work, in order to provide key differentiation strategy and position themselves in the actual and potential customers mind, building the need for their service and adding value to their brand .
Once a health care organization has completed their strategic planning phase, it is time for them to move to the strategic implementation phase. This phase is a timely process made in steps for an organization to follow to ultimately achieve its goals and mission (Ginter, P. M., Duncan, J. W., & Swayne, L. E., (2013). There can be many bumps in the road or barriers during the implementation phase. For today, we will be discussing the scenario of a growing primary care practice adding a second location.
The executive has a direct responsibility to his employers… which is to conduct the business in accordance with their desires, which generally will be to make as much money as possible while conforming to the basic rules of society, both those embodied by law and ethical custom” (p. 34). Moreover, the Shareholder Theory asserts that shareholders are the ones who spend their money to employ the corporate executives, who are in return supposed to spend corporate funds only in ways that have been authorized by the shareholders. Primarily, this argument is based on the notion that corporations are only “artificial persons” and cannot have responsibilities like “natural persons” (p. 34). Instead, the argument is based on the basic principles of ownership and employment. In essence, the shareholders are the owners of the firm, and the corporate executives are those whom they employ.
Stakeholders are those groups or individual in society that have a direct interest in the performance and activities of business. The main stakeholders are employees, shareholders, customers, suppliers, financiers and the local community. Stakeholders may not hold any formal authority over the organization, but theorists such as Professor Charles Handy believe that a firm’s best long-term interests are served by paying close attention to the needs of each of these stakeholders. The modern view is that a firm has responsibilities to all its stakeholders i.e. everyone with a legitimate interest in the company. These include shareholders, competitors, government, employees, directors, distributors, customers, sub-contractors, pressure groups and local community. Although a company’s directors owes a legal duty to the shareholders, they also have moral responsibilities to other stakeholder group’s objectives in their entirely. As a firm can’t meet all stakeholders’ objectives in their entirety, they have to compromise. A company should try to serve the needs of these groups or individuals, but whilst some needs are common, other needs conflict. By the development of this second runway, the public and stakeholders are affected in one or other way and it can be positive and negative.
Corporate governance implies governing a company/organization by a set of rules, principles, systems and processes. It guides the company about how to achieve its vision in a way that benefits the company and provides long-term benefits to its stakeholders. In the corporate business context, stake-holders comprise board of directors, management, employees and with the rising awareness about Corporate Social Responsibility; it includes shareholders and society as well. The principles which...
If asked what strategic planning is one could interpret it as simply a road map that can guide the organization in the right direction. It is very unlikely that an organization would know which direction to take without a sense of direction. Managers are faced every day with decisions that have a major impact on the direction the organization must take, therefore, strategic planning can play an important role in guiding managers in the right direction. In other words strategic planning is a tool that management can use to give them a sense of direction that will guide them in doing a better job and to ensure that all the members of the organization are working toward the same goals
Strategic planning is an organizational process in which it looks towards developing and sustaining success or balance in its ever changing environment.