Strategic Analysis Corporate Strategy - 1782 Words

Strategic Analysis Corporate Strategy Garmin follows a first mover, differentiation strategy. Through heavy investment in research and development they are able to develop new products that users perceive as more valuable and are willing to pay a premium for. The first mover aspect is most easily observed in their aviation division where they have received numerous awards as well as FAA certifications for being the first to market with new and innovative products (Feather, 2010). Garmin has been able to develop a high quality product while still striking a balance with costs, for their products priced only slightly higher than their competitors. They have been able to achieve this in two ways, heavy investment in RD and acquisitions that have vertically integrated value chain operations. This has allowed the firm to not only be the first to market with new products, but also be able to design manufacturing processes that allows the company to adapt and be dynamic. Garmin uses multi-disciplinary teams including industrial designers, various engineers as well as members from manufacturing operations to develop products allowing them to quickly move from concept to manufacturing. The company has also used a series of acquisitions to vertically integrate itself creating a supply chain that has given it a competitive advantage. Garmin believes manufacturing operation in Shijr, Jhongli and LinKou, Taiwan, Salem, Oregon and Olathe, Kansas is one of its core compete ncies. VerticalShow MoreRelatedStrategic Analysis and Strategic Management900 Words   |  4 Pages Explain why strategic analysis is necessary in the process of developing an appropriate strategy. Identify tools that are available to examine the external environment and discuss how and why they are used. Introduction Strategy is a high level plan in which to achieve one or more goals under conditions of uncertainty. It is very important because resources available to achieve these goals are usually limited. Strategy is often the difference between mediocrityRead MoreMng301 Strategic Management Possible Questions1462 Words   |  6 PagesUNISA Strategic Management Workshop Knowing the answers to all of these questions (seventy-six in total) will guarantee you outstanding marks in the final examination as they represent the Strategic Management course (up to chapter six) in its entirety. Therefore virtually every question that can be associated with the course material thus far has been covered. Please therefore answer all of them in your own time in order to prepare yourself for the pending examination. Once you have done soRead MoreDescribe The Strategic Management Process1200 Words   |  5 PagesDescribe the strategic management process. What does it mean to manage strategically? Answer: Strategic management method is that the full set of commitments, decisions, and actions that are needed by the organization that helps the organization to attain strategic fight and earn above-average returns. the primary step of the strategic management method is to analyse the external setting and internal organization to work out its resources, capabilities, and core competencies—the sources of its â€Å"strategicRead MoreBusiness Strategy-Kfc Company Overview 11080 Words   |  5 Pagesback to 1930. The company adopted the abbreviated form of its name in 1991.[3]  Starting in April 2007, the company began using its original name, Kentucky Fried Chicken, for its signage, packaging and advertisements in the U.S. as part of a new corporate re-branding program;[4][5]  newer and remodeled restaurants will have the new logo and name while older stores will continue to use the 1980s signage. Additionally, Yum! continues to use the abbreviated name freely in its advertising. KFC’s Responsibility Read MoreMgc1 Study Guide 21064 Words   |  5 PagesSummarize the basic steps in any planning process. The planning process begins with a situation analysis of the external and internal forces affecting the organization.  Ã‚  This examination helps identify and diagnose issues and problems and may bring to the surface alternative goals and plans for the firm.  Ã‚  Next, the advantages and disadvantages of these goals and plans should be evaluated against one another.  Ã‚  Once a set of goals and a plan have been selected, implementation involves communicatingRead MoreThe Concept of Strategy and Strategic Management1718 Words   |  7 PagesTHE CONCEPT OF STRATEGY AND STRATEGIC MANAGEMENT G. Tyge Payne, PhD 1 Strategic Management Strategy: The unifying theme that gives coherence and direction to the decisions of an organization Strategic Management: Consisting of the analysis, decisions, and actions an organization undertakes in order to create and sustain competitive advantages. Or, the Strategic Management Process is: The full set of commitments, decisions, and actions required for a firm to create value and earn aboveaverageRead MoreStrategy without action is only a daydream, but action without strategy is a nightmare Discuss the benefits of formal corporate planning in directing organisational action1588 Words   |  7 PagesIS STRATEGIC CORPORATE PLANNING RELEVANT IN THE 21ST CENTURY? This essay will discuss the benefits of corporate strategic planning. Firstly, we will look at what strategy is, and why strategic planning is important to an organisation. Secondly, what types of strategic models are used for planning, and finally given that organisations are increasingly complex and market dynamics are constantly changing is there a need for strategic corporate planning in the 21st century. It is hard to get a properRead MoreMarketing Strategy : The View From A Different Looking Glass1450 Words   |  6 PagesMarketing s Contribution to Strategy: The View from a Different Looking Glass Submitted by - Shonit Mittal Introduction The case, â€Å"Marketing s Contribution to Strategy: The View from a Different Looking Glass†, by Dr. P Rajan Varadarajan, discusses the growing influence of marketing in the strategic decision making of the organization. The author cites numerous instances from the field of marketing where one can observe how the marketing is guiding the strategy of the companies like de-conglomerationRead MoreStrategic Marketing : Business World, Tourism And Hospitality Industry Essay1379 Words   |  6 Pagesconducted to deal with the present condition of Great Yarmouth as a tourist destination through the analysis with strategic marketing, planning process, environmental analysis and recommended some strategic options for Great Yarmouth for achieving a sustainable source of competitive advantage. Task 1: The key fundamentals of strategic marketing Strategic marketing: The ultimate goal of strategic marketing is achieving a distinctive position (i.e. above average performance) that can give it a sustainableRead MoreCsr And Its Two Streams818 Words   |  4 Pagesstructure. He then started the lecture which was on the strategic management. It was quite reflective lecture and had useful information as such, the strategy and it’s all concerns were discussed. That included definitions, different strategy models, the strategic positions, and levels of strategies, strategy lenses and the concerns of each level. The strategic business unit and strategic choices were also learned. Overall, it reflected that strategic management is concerned with scope direction and purpose

Critical discussion of the Stanford prison experiment Free Essays

The Stanford prison experiment (1971) continues to be relevant in psychology for various reasons. Zimbardo attempted to study the development of norms and effects of social roles and expectations on healthy average men by simulating a prison. It resulted in mental breakdowns, abusive and sadistic behaviour among prison guards and was terminated well ahead of schedule. We will write a custom essay sample on Critical discussion of the Stanford prison experiment or any similar topic only for you Order Now A study that was prior approved by ethical bodies, it has been criticised for unethical and unscientific methods – leading the way for significant changes in ethical standards of for psychological research. Further, results of the study have contributed to development of various theories and concepts in social psychology. Introduction The Stanford prison experiment is an important study in the history of social psychology for experts and laymen. Zimbardo (1971) designed the study to understand development of norms and effects of social roles and expectations on ‘normal’, healthy and otherwise average men by simulating a prison environment as accurately as possible. The study was conducted at Stanford and funded by a grant from the U.S. Office of Naval Research to study antisocial behaviour and conflict among prisoners and military guards. Details of the Study Advertisements for a study on the psychology of imprisonment, offering $15 per day, were used to recruit twenty-four male students with no prior criminal arrests, medical conditions or psychological disorders. They were randomly assigned prisoner or prison guard roles in a mock basement prison (Zimbardo, 1999). Prison guards were briefed regarding preservation of law and order, avoiding corporal violence and preventing prisoners from escaping etc. Prisoners were arrested in their home – handcuffed, searched and driven away by police – and charged with burglary or armed robbery (Leithead, 2011). They had to follow strict rules, such as silence during rest hours, eating at meal times, cleaning prison cells etc. The prisoners were allowed to quit and though some did, many seemed to forget that they could leave via straightforward procedures. Nearly 50% of prisoners were released ahead of schedule due to extreme emotional disturbance (Zimbardo, 1999). Interestingly, personality did not predict/distinguish between levels of abusiveness among guards, as did situational characteristics (Dean, 2007; Zimbardo, 2007). Participants became entirely involved in their ‘new life roles’ – suffering mental breakdowns and guards becoming so abusive and sadistic that the study was terminated within six days, rather than two weeks (Zimbardo et al., 1999). Relevance in the Present Day â€Å"†¦[A] classic demonstration of the power of situations and systems to overwhelm good intentions of participants and transform ordinary, normal young men into sadistic guards or for those playing prisoners to have emotional breakdowns.† – Prof Zimbardo (Leithead, 2011). This study highlights various issues that are still relevant to the present day. Results arguably demonstrated the obedience and malleability of people given legitimizing dogma and adequate institutional/collective support, cognitive dissonance theory and power of authority. Situational characteristics affected participants’ behaviour, rather than personal characteristics (Zimbardo et al., 1999; Zimbardo, 2007; Dean, 2007). Though all students signed a consent form prior to participation and the study was cleared by relevant committees at Stanford, Office of Naval Research and the American Psychological Association (Zimbardo et al., 1999), the study is criticised as being unethical and, subsequently, caused a widespread revision in ethical standards (Carnahan McFarland, 2007). For these reasons, the experiment is often compared to Milgram’s (1961) obedience experiment. Conclusion Unmistakeably, the study has paved the way for much understanding in the area of social psychology, especially with regard to power of authority, obedience and situational characteristics over personality. Further, the study’s effect on participants caused ethical standards for research to change significantly. Thus, this study remains highly relevant to the present day. References Carnahan, T., McFarland, S. (2007) â€Å"Revisiting the Stanford prison experiment: Could participant self-selection have led to the cruelty?† Personality social psychology bulletin, vol. 33, no. 5, pp. 603-14. Dean, J. (2007) Our dark hearts: The Stanford prison experiment, [Online], Available: http://www.spring.org.uk/2007/09/our-dark-hearts-stanford-prison.php [29 May 2012]. Leithead, A. (2011) Stanford prison experiment continues to shock, [Online], Available: http://www.bbc.co.uk/news/world-us-canada-14564182 [29 May 2012]. Zimbardo, P. G., Maslach, C. Haney, C. (1999) â€Å"Reflections on the Stanford prison experiment: Genesis, transformation, consequences, in Blass, T. (ed.), Obedience to authority: Current perspectives on the Milgram Paradigm, Mahwah, NJ: Erlbaum. Zimbardo, P.G. (1999) The Stanford prison experiment, [Online], Available: http://www.prisonexp.org/faq.htm [29 May 2012]. Zimbardo, P.G. (2007) The Lucifer effect: Understanding how good people turn evil, New York: Random House. Zimbardo, P.G. (n.d.) The psychology of power and evil: All power to the personTo the situationTo the system[Online], Available: http://www.prisonexp.org/pdf/powerevil.pdf [29 May 2012]. How to cite Critical discussion of the Stanford prison experiment, Essay examples

Compensation Claim Made Available Employee -Myassignmenthelp.Com

Question: Discuss About The Compensation Claim Made Available Employee? Answer: Introducation Once a new employee is engaged, payroll officer needs to set up the records for this employee. In essence, payroll officer needs to collect information such as history of employees jobs, compensation changes, loans, departments, as well as garnishments in setting up necessary payroll records. Withholding declaration should be completed by employee when s/he wants his payer to adjust amount withheld from his or her payments that was made to him or her. In addition, an employee should complete withholding declaration when s/he wants to advise his or her payer of an adjustment to information s/he previously gave in the tax file number declaration. The HELP stands for Higher Education Loans Programme which is a loan scheme for needy students that are enrolled in the Commonwealth supported areas in paying their student contribution payments. Given that an employee claim tax-free threshold, and has a HELP debt with gross weekly earnings or around $2,459, s/he should withhold a tax of around $2,459. In case an employee is under 18 years and works for 15 hour every week, s/he is not eligible for the Super Guarantee since for an individual employee who is under 18 years to be eligible for super fund, s/he has to work for around 30 hours every week and has to be pad around $450 before tax every month. Not all employees are usually eligible to select their choice of the super fund. This is based on the notion that only those employees employed under the federal award, or under the former state award or those employed under an industrial agreement or an award who do not need super contribution or those or those not employed under any industrial agreement or state award are eligible for super funds. Medicare levy is the amount of tax that assists in financing public health care system. In essence, it is a tax applied to the high income earners that do not have suitable level of the hospital cover. With these notions, employee can request for a variation in Medicare levy based on their level of income. To request for a variation, they need to complete a Medicare levy variation declaration form; that is, NAT 0929. This is usually the amount of tax which an employer pays or withholds on behalf of the employee. Basically, payroll tax is that tax imposed on an employee or employer and is computed as the percentage of salaries which employer pays to his or her staff. Payroll tax threshold in Northern Territory is $1.5 million annually and $125,000 monthly. In addition, the current tax rate in Northern Territory is around 5.5%. The ABN stands for Australian Business Number. This is a unique number representing a given business to tax office as well as other official bodies. If a business happens to purchase supplies from a business that does not quote the ABN on the invoice, they should withhold amount from payment from that business. To meet the PAYG withholding annual reporting obligations, all the payment summaries should be provided to all personnel not later than 14th July every year. To meet the PAYG withholding annual reporting obligations, all the payment summaries should be provided to ATO not later than 14th August every year. There are three types of the payment summaries; these include the individual no-business, superannuation lump sum as well as business and personal service income. Fringe benefit is usually a form of payment for performance of services. In other word, it is a form of compensation employers provide to their employees outside of the stated salary or wage. Examples of fringe benefits that employers might provide to their employees include retirement benefits, health insurance policies childcare assistance, physical fitness as well as education assistance which might help in recruitment of top quality and skilled employees. Some of the benefits that are exempted from the Fringe Benefits Tax for employers include insurance coverage, education assistance, retirement benefit plan, childcare assistance as well as physical fitness assistance. The current FBT rate is 47% which is relatively lower as compared to the previous year. If a business is not entitled to the GST credits, the GST is said to affect the FBT liability. This is based on the fact that where there is no entitlement to the GST credit, a lower gross-up rate in FBT liability is used. This is an arrangement where different employees agree to sacrifice part of their future wages or salary in return for their boss offering benefits of same value. With these considerations, salary sacrifice arrangement cannot be classified as the employer contributions since it is a salary packaging or the total remuneration packaging from employees. Some of the PAYG records that the ATO needed businesses to keep include governing document, financial reports, cash book records, records relating to the employees, records of payment withheld, grant documentation, contracts and agreements as well as bank records. Australian Bureau of Statistics Full-time adult average weekly ordinary time earings in Australia in November 2015 was 1,602.80. Privacy Act 1988 The four principles in the National Privacy Principle under Privacy Act 1988 in Schedule 3 include collection, openness, information quality as well as information security. These principles relate to establishing and maintaining a payroll system since for instance, the principle of openness provide some policy on how to manage personal information and how to make it readily available to other individuals who might ask for it which is crucial in establishment and maintenance of a better payroll system. Tax Practitioners Board The BAS is defined in TASA as advising and ascertaining about obligations, liabilities or entitlement of the customer under the BAS provisions or signifying customers in their function with commissioners of the Taxation with regard to the BAS provision. To register as a BAS agent, one must fulfill the following requirements; first, s/he should be around 18 years. Second, one should be fit and proper person. Third, one should satisfy experience and qualification requirements. Further, one should be able to maintain specialized indemnity insurance cover which meets all their requirements. Fifth, one should not have been condemned of any serious offense involving dishonesty or fraud during the last five years. Sixth, one should not be under any external administration. Finally, one should provide all the supporting documents. Qualifications Experience For one to be a BAS agent, one should have at least certificate IV for Financial services in accounting or bookkeeping. In essence, one should have tertiary qualification in accountancy and should have a membership of professional association. Obligations The principles are set out in five main categories; these are, independence, competence, honesty and integrity, confidentiality as well as other responsibilities. The principle of code relating to the confidentiality states that unless one have legal duties to do so, one should not disclose any relevant information relating to the customers affairs to the third party without their customers permission. Confidentiality and Security of records The most relevant measures that could be implemented to ensure confidentiality of the payroll data include ensuring that the information cannot be seen by unauthorized personnel and that it is stored securely at end of every day, logging off payroll system prior to leaving the computer, ensuring that data is utilized only for the main objective for which it is intended, not discussing personal details of personnel within hearing of the unauthorized persons, positioning computer screen such that unauthorized individuals cannot view the displays as well as ensuring that only the authorized individuals are given access to information regarding personnel pay records. Awards (Fair Work Commission) An award is usually something given to certain individuals or a company in recognition of their good work in specific field. In other word, it is a document that offers details of status of employees, as agreed in between the employers and Unions. Awards were modernized on 1st January 2010 corresponding with the starter of the new national workstation associations systems. The ten National Employment Standards entitlements include Maximum for flexible weekly hours, parental leave as well as related entitlements, request for a flexible working arrangement, personal and compassionate leave, annual leave, fair work information statement, public holidays, long service leave, community service leave, as well as notice redundancy and termination pay. This is the conditions and terms of employment in between employers and their key personnel. The three types of enterprise agreements include Greenfields agreement, single-enterprise agreements as well as multi-enterprise agreements. In approving enterprise agreement, Fair Work Commission should consider that pre-approval steps are undertaken properly. The commission should also ensure that the agreement has been clearly agreed to by all the relevant personnel. In addition, the commission should ensure that the agreement does not contain any term that exclude or that have impact of excluding NES. They should also ensure that the agreement have clear date as its expiry date and provide dispute settlement procedures. Annual Leave Every employee accumulates around four weeks of the paid annual leave every year. This entitlement accumulates constantly on the basis of number of ordinary hours these employees work. In case an employee takes an annual paid leave within a day that is public holiday, this employee should not be considered on paid leave. Personal/Carers leave The minimum entitlement to personal or career leave is around 10 days every year. This accrues progressively during the year according to number of the ordinary hours worked and they usually accumulate every year. Every employee is entitled to a minimum of two days as compassionate leave which is to be spent with the member of their families who has sustained injury or life-threatening illnesses. Casual employees are not paid for compassionate leave since they are eligible for unpaid compassionate leave. Long Service Leave Employees are usually entitled to a long service leave which is in line with his or her applicable pre-modernized award. The minimum long service leave entitlement for an employee in Northern Territory is when an individual complete 10 years in service with the employers. Here, on maturity, an employee is entitled 1.3 weeks for every completed year of the service with the employers. An employer is required to keep long service leave records or entitlements. These are records designed in ensuring that personnel or employees receive their correct entitlement and wages. The general employment records include employers name, employees name, basis of employees employment, employers Australian Business Number as well as employees commencement date. Additional information that should be kept for every employee include their name, rate of pay paid to each employee, net or gross amount paid to each employee as well as details of any bonus, penalty rate or monetary allowance paid to each employee. Pay slip should be issued to every employee in one day of the pay day even when s/he is on leave. This should be issued electronically or in hard copy. Some of the key information that needs to be included in the pay slip include employers name, pay period, employees name, net or gross amount of payment, employers ABN, date of payment, as well as any loading, bonuses, penalty rates, monetary allowances, incentive-based payments or other identifiable entitlements paid. An employer can make deductions from the employees payment if an employee has authorized deduction in writing or if the deductions are primarily for employees benefit or if these deductions are authorized by an employee in line with registered agreement or when it is authorized by award or when Fair Work Commission gives an order. Workers Compensation Occupational Health and Safety Employers obligations according to workers compensation insurance are to arrange workers compensations policy on time and ensure that every employee or work in covered for the workers compensation. Wages, salaries or remunerations constitute of salary, shift and other allowances, bonuses, payment for the annual and public holidays, over-award payments, overtimes, payment for the sick leave, market value of the lodging, and board provided by employers for workers, superannuation contributions payable to workers, total value of salary sacrificed amount as well as payment for the long service leave. The four main measures that could assist a given business keep its workplace safe include training and supervision, consultation, risk management as well as setting better reporting procedures. The employers obligation to an injured employee in regard to their compensation is t to make sure that compensation claim is made available to the employee, to forward employees claim form to insurer within three days as well as to follow up on their compensation payments. References Fair Work 2017, best practice guides; Viewed at 5th October 2017 from; help/templates-and-guides/fact-sheets/rights-and-obligations/record-keeping-pay-slips