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McDonald's is American fast food company, supported in 1940 as a building operated by Richard and Maurice McDonald, in San Bernardino, California, us. They rechristened their business as a hamburger stand, and later turned the corporate into a franchise, with the Golden Arches brand being introduced in 1953 at a location in Phoenix, Arizona.
Get original essayIn 1955, Ray Kroc, a businessperson, joined the corporate as a franchise agent and proceeded to buy the chain from the McDonald brothers. McDonald's had its original headquarters in Oak Brook, Illinois, however captive its international headquarters to Chicago in early 2018.
Burger King (BK) is an American fast-food company international chain of hamburger nourishment restaurants. Headquartered within the unorganized space of Miami-Dade County, Florida, the corporate was based in 1953 as Insta-Burger King, a point of entry, Florida–based chain. When Insta-Burger King bumped into money difficulties in 1954, its 2 Miami-based franchisees David Edgerton and James Mc Lamore purchased the corporate and renamed it 'Burger King'. Over the successive time period, the corporate would displace fourfold, with its third set of householders, a partnership of TPG Capital, Bain Capital, and syndicalist Sachs Capital Partners, taking it public in 2002.
In late 2010, 3G Capital of Brazil nonherita-ble a majority stake within the company, during a deal valued at US$3. 26 billion. The new homeowners promptly initiated a restructuring of the corporate to reverse its fortunes. 3G, together with partner county wife, eventually unified the corporate with the Canadian-based doughnut chain Tim Hortons, below the auspices of a replacement Canadian-based parent company named building Brands International.
The first McDonald’s eating place was started in 1948 by brothers Maurice (“Mac”) and Richard McDonald in San Bernardino, California. They bought appliances for his or her little hamburger eating place from salesperson Ray Kroc, United Nations agency was intrigued by their want for eight malt and shake mixers. Once Kroc visited the brothers in 1954 to examine however little search may sell such a big amount of milk shakes, he discovered a straightforward, economical format that permissible the brothers to provide vast quantities of food at low costs. A basic hamburger price fifteen cents, regarding 0. 5 the worth charged by competitor restaurants. The self-service counter eliminated the necessity for waiters and waitresses; customers received their food quickly as a result of hamburgers was barbecued sooner than time, wrapped, and warm underneath heat lamps. McDonald’s, fully McDonald’s Corporation, American fast-food chain that's one among the most important within the world, known for its hamburgers. Its headquarters are in Oak Brook, Illinois.
Seeing nice promise in their building thought, Kroc offered to start a franchise program for the McDonald brothers. Corporation, eventually shopping for out the McDonald brothers in 1961. The quantity of McDonald’s retailers would high 1, 000 before the tip of the last decade. Boosted by steady growth, the company’s stock began mercantilism in public in 1965. The chain continuing to expand domestically and internationally, extending to Canada in 1967, reaching a complete of 10, 000 restaurants by 1988, and in operation over thirty-five, 000 shops in additional than one hundred countries within the early twenty-first century.
Burger King (BK) is an American international chain of hamburger nourishment restaurants. Headquartered within the unorganized space of Miami-Dade County, Florida, the corporate was supported in 1953 as Insta-Burger King, a port of entry, Florida–based chain. When Insta-Burger King bumped into monetary difficulties in 1954, its 2 Miami-based franchisees David Edgerton and James McLamore purchased the corporate and renamed it 'Burger King'. Over the consecutive period, the corporate would move fourfold, with its third set of homeowners, a partnership of TPG Capital, Bain Capital, and Goldman Sachs Capital Partners, taking it public in 2002. In late 2010, 3G Capital of Brazil non-heritable a majority stake within the company, in an exceedingly deal valued at US$3. 26 billion. The new homeowners promptly initiated a restructuring of the corporate to reverse its fortunes. 3G, together with partner county wife, eventually incorporated the corporate with the Canadian-based doughnut chain Tim Hortons, beneath the auspices of a brand new Canadian-based parent company named edifice Brands International.
McDonald's and Burger King started within the franchise food business in 1955 and 1953, severally. McDonald's has continually been the larger company; however, every firm has unquestionably influenced the opposite over the course of their six-decade-plus group action.
McDonald's has become emblematic of globalization, typically spoken because the 'McDonaldization' of society. The social scientist newspaper uses the 'Big mackintosh Index': the comparison of an enormous Mac's price in numerous world currencies will be wont to informally decide these currencies' getting power parity. Schweiz has the foremost costly huge mackintosh within the world as of July 2015, whereas the country with the smallest amount costly huge mackintosh in India (albeit for a maharajah mackintosh — the next least expensive huge Mac in Hong Kong).
Thomas Friedman once aforementioned that no country with a McDonald's had gone to war with another. However, the 'Golden Arches Theory of Conflict Prevention' isn't strictly true. Exceptions square measure the 1989 U. S. invasion of Panama, NATO's bombing of Serbia in 1999, the 2006 Asian country War, and the 2008 South Ossetia war. McDonald's suspended operations in its corporate-owned stores in peninsula once Russia annexed the region in 2014. On August twenty, 2014, as tensions between the u. s. and Russia strained over events in Ukraine, and the resultant U. S. sanctions, the Russian government briefly close up four McDonald's shops in Moscow, citing hygienical considerations. The corporate has operated in Russia since 1990 and at August 2014 had 438 stores across the country. On August twenty three, 2014, Russian Deputy Prime Minister Arkady Dvorkovich dominated out any government move to ban McDonald's and unemployed the notion that the temporary closures had something to try and do with the sanctions.
While metallic element began its raid locations outside of the continental us in 1963 with a store in the city, Puerto Racketeer Influenced and Corrupt Organizations Act, it didn't have a global presence till many years later. Shortly when the acquisition of the chain by Pillsbury, it opened its initial Canadian building in Windsor, Ontario in 1969. Alternative international locations followed before long when archipelago in 1971 and Europe in 1975 with a building in the national capital, Spain. Starting in 1982, metallic element and its franchisees began operational stores in many East Asian countries, together with Japan, Taiwan, Singapore, and the Republic of Korea.
Australia is that the solely country during which Burger King doesn't operate underneath its own name. Once the corporate set concerning establishing operations down underneath in 1971, it found that it is business name was already proprietary by a takeaway shop in Adelaide. As a result, Burger King provided the Australian franchisee, Jack Cowin, with a listing of potential different names derived from pre-existing emblems already registered by Burger King and it's the company parent Pillsbury that might be wont to name the Australian restaurants. Cowing elects the 'Hungry Jack' brand, one amongst Pillsbury's United States battercake mixture product, associate degreed slightly modified the name to a possessive type by adding an apostrophe 's' forming the new name Hungry Jack's. When the expiration of the trademark within the late Nineteen Nineties, Burger King unsuccessfully tried to introduce the whole to the continent.
When endeavoring to pick the procedure system of an organization, the administrators need to concentrate on client prerequisites, cost, and proficiency. Burger King's methodology has worked superbly in these angles. They've had the option to expand the nature of the items they offer, fitting them the inclinations of their clients, while additionally decreasing expense. Their cash isn't tied up in new item advancement or in thing lines that aren't appealing to the market. McDonalds has essentially done the inverse. By proceeding to create and present various new items, their expense has risen, and they haven't had the option to concentrate on what their clients' inclinations are. McDonalds is huge enough and has the cash to do this and not see any generous misfortune in piece of the overall industry, yet if they keep on doing it that probably won't proceed. On the off chance that the patterns of this last year proceed, the hole among them and Burger King is just going to get littler.
Market Penetration It Uses penetration as its primary intensive strategy for growth. In applying this intensive strategy, McDonald’s grows by reaching a lot of customers in markets wherever it already has operations.
For instance, McDonald’s opens new restaurants in North America and Europe by franchising, joint ventures or company possession.
A strategic objective connected to the present intensive growth strategy is international enlargement through new locations. McDonald’s generic strategy supports this intensive growth strategy because of low prices and low costs empower the firm to simply penetrate markets.
Primary intensive growth strategy is penetration. The goal of this intensive strategy is to grow revenues from existing customers or markets wherever the firm already has operations.
For instance, Burger King implements this intensive growth strategy by gap new restaurants in its current markets to urge an even bigger market share.
A strategic objective connected to the present intensive growth strategy is to expand Burger King’s franchise network. In relation, Burger King’s generic strategy conjointly supports this intensive strategy by highlight distinctive product options to penetrate markets and grow the business.
Market Development McDonald’s used market development as its primary intensive strategy for growth. However, market development is currently a secondary intensive growth strategy because of McDonald’s already has restaurants in most regions round the world, except Mongolia, some components of the center East and west Asia, and the majority of African countries. McDonald’s supports intensive growth strategy by victimization low costs to vie in new markets.
Market development is Burger King’s secondary intensive growth strategy. To support business growth, this intensive strategy involves coming into new markets or targeting new market segments. For instance, Burger King implements this intensive growth strategy by gap new stores in overseas locations wherever it doesn't have operations. However, this strategy is simply secondary or minor in Burger King’s business as a result of the corporate already has operations in most markets round the world.
Product Development McDonald’s uses development as its tertiary or supporting intensive strategy for growth. In applying this intensive growth strategy, McDonald’s develops new product over time, like new McCafé product. These new products could also be variations of existing products, or entirely new product. The strategic objective for this intensive growth strategy is to capture additional shoppers by attracting them to new product. This intensive growth strategy agrees with McDonald’s broad differentiation generic strategy in terms of recent product that build the corporate distinct.
Product development is that the least important of Burger King’s intensive growth methods. This intensive strategy allows the corporate to grow through the introduction of recent product. Burger King solely minimally implements this intensive strategy. for instance, the corporate introduces new product at a slow rate. Most of Burger King’s product stay on the menu for years. A strategic objective connected to the present intensive strategy is to grow Burger King’s business through product innovation. This intensive growth strategy supports Burger King’s generic strategy of broad differentiation by highlight new product that are distinctive compared to those of competitor corporations
McDonald's: McDonald's is the world's largest fast food chain in terms of customer numbers and material returns. The number of franchise franchises is 35, 000 in about 120 countries. Burger King: In 2015, the number of franchises named Burger king brand was 14320 stores around the world.
McDonald's: According to the reports reported in 2014, the cost of initial investment of Franchise McDonald's range from 437 thousand to 2. 3 million dollars. Burger King: According to the 2014 reports, initial investment in the British Burger King is $ 316, 000 and $ 2. 7 million, with initial $ 50, 000 initial costs.
More than 1. 5 million people work at McDonald's In 2011, the number of employees at Burger king Company was 34248.
According to IBIS World, McDonald's market share was 18. 6 percent. In 2014. According to the same report, Burger King's market share is only 4. 6 percent.
McDonald's faces tough times, with growth rates slowing in 2014, which it saw as the worst since 2003. It also closed several restaurants in the United States. Unlike McDonald's, Burger King has recorded positive growth in recent years, with the relatively small size of the company, which allowed it to grow and innovate in its products.
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This document aims to address disease prevention and health promotion in the South African context. First, burnout and engagement will be conceptualised. Second, these two concepts will be compared and contrasted based on components, Job demands-resource mode, research and last, the South African perspective will be provided.
Get original essayTo start, the author of this document will first conceptualise the terms that will be used. Stress is defined as the stimulus or cause, the process and the outcome or result. To further elaborate, the stimulus or cause is the pressure we experience, for example the pressure to pass exams. The process is how the pressure is turned to reality, for example thinking it’s impossible to pass the exams. Lastly, the outcome, it’s how stress impacts our daily lives. For example, feeling nervous. In addition, Sutton (2015) defines burnout as emotional exhaustion, cynical attitude towards clients and dissatisfaction with oneself and one’s work efforts. On the other hand, wellbeing is defined as “summative concept that characterises the quality of working lives”. The strengths/weaknesses of a disease prevention approach in some countries, some disease prevention and control activities are sustained through vertical diseases prevention and control programmes using passionate staff to provide services. This approach enables management and training but it’s quite costly and problematic to sustain and reduces community involvement. Additionally, the strengths/weaknesses of health promotion approach is the Workplace health promotion (WHP), it addressed the individual risks and organisational issues, and it further addresses the lifestyle, workplace hazards, work organisation and early detection of disease. Emphasizing hygiene in the work place programmes, biological monitoring and medical surveillance should be carried out to decrease the likelihood of risks. In order to compare and contrast stress and wellbeing, the author will look at three criteria. These are 1) components; 2) job demand-resource model; and 3) research.
Burnout consists of high exhaustion and cynicism combined with low professional efficacy. Exhaustion is feelings of being over-extended and drained, cynicism is indifference and a distant attitude to work, lastly Professional efficacy is how effective the person feels in their job. People suffering from burnout have reached the point of exhaustion and can no longer cope with the work loaf required for their job. While burnout results from negative stress, positive stress can result in work engagement, defined as positive, fulfilling work-related state of mind. Compared to burnout, wellbeing also has 3 components that further explains it. It consists of Vigour, dedication and absorption. Vigour is the opposite of absorption, it explains when a person has extreme levels of energy, even though experienced with difficulties in the work place but still pulls through. Also, dedication is the opposite of cynicism, it consists of a sense of pride in one’s work and enthusiasm, and also feeling a sense of inspiration in it. But unlike professional efficacy, absorption is about being fully focused and attached on your work while enjoying it and being happy.
This theory states that states that increased job demand can lead to increased levels of stress when job resources are lacking. Burn outs in this model are job demands and wellbeing’s are job resources. Job demands they are things that challenge us to work while job resources they help us to deal with challenges.
Research states that the happiness is vital for the employees, not only for them to be productive effectively, but because there are many unhappy workers. Subjective wellbeing is an important indicator of the wellbeing of the people. Wellbeing could be considered in terms of the diverse roles, such as marriage, work, family and housing. Work represents an important context for studying thee wellbeing of individuals, especially because it provides income that has a positive impact on the life roles and because it requires the individual’s time and energy. The different components of work related wellbeing could be related, but could be separate dimensions, for example, it is possible to experience low work related depression (e. g. disengagement) but extreme levels of work related of anxiety. Strain is made up of two or more negative forms of wellbeing such as anxiety and depression. Regarding the relationship between work stress and work engagement, research has revealed that even though a person can be faced with extreme job deadlines, long Working hours, some people do not show any symptoms of disagreementSouth African perspective. Stress is defined as any event that is overwhelming, threatening or demanding and usually blows into the ability of a person to cope. Stress consists of the fight or flight mode. A person has the ability to face the threatening circumstances (fight) or can choose to ignore it (flight). Thabane (2015), further explains that people in the work place are suffering from stress and if the organisation does not assist the employees in dealing with it, the stress levels may be extreme. The organisations should start anything to enhance the wellbeing of the employees. They should and not only focus on the profits and job demands but rather than focus on the employees quality of life which will result in empowered concentrations in the workplace. The following are likely to cause stress in the work place; time pressure and deadlines, poor internal communication, lack of support, poor senior management, too many meetings and office politics. Work-related stress, depression, burnout and anxiety disorders are costing South Africa’s economy approximately R40. 6 billion a year, equivalent to 2. 2% of GDP. It is argued that companies should heave a healthy educational environment with pro-active mental health awareness programmes, stress management training, ability of the employees to have contact with services that will help nurture help-seeking behaviour, implement counselling and identify people who are in need of help and offer them services that will ensure that they receive proper treatment.
Mental illness is a health problem that significantly affects how a person thinks, behaves feels and interacts with other people. It is diagnosed according to standardised criteria. According to Corrigan (2004), structural stigma is a process. The process involves (a) the recognition of cues that a personhas a mental illness, (b) activation of stereotypes, and (c) prejudice or discrimination against that person.
This essay explains that stress is the pressures that people experience. Stress goes with burnout, which is the dissatisfaction that people experience regarding to work. Under components, burn out has 3 components that explain the negative effects that it has. It explains the feelings of being drained, the distant attitude that people have and how does people feel in their jobs. In contrast to burnout, there’s wellbeing, which occurs with positive stress, it also has 3 components that explains the high levels of energy workers have, pride in your work and concentration. The job demand model explains that increased demand leads to increased levels of stress. The South African perspective explain the impact of the South Africans in wellbeing and burnout.
United Airlines is an international airline whose purpose is to connect people and unite the world. United Airlines Inc. , founded on April 6th, 1926, 91 years ago, is the third world’s largest airline. It was originally known as Varney Airlines because it was founded by Walter T. Varney. In 2010, United Airlines was joint with Continental Airlines to create United Continental Holding. Headquartered in Chicago, Illinois it is part of Star Alliance alongside Air Canada, Lufthansa and many other airlines from all around the world. United Express, a branch of the company is responsible for regional flights. More recently United Airlines has been a target of the media following the incident of flight 3411.
Get original essayThe organizational structure of United Airlines consists of having the board of director as their highest level followed by the chief executive officer and chief revenue officer. It then goes on to executive vice president-HR and labor relations, and executive vice president-strategy and business development. Lastly, the organizational structure finishes off with the executive vice president-communications and government affairs.
Board of directors: This section of the board of directors has 15 members and their role is to initiate the goals and policies of the company over a certain period of time. This section also includes organizing their strategies in order to make their goals realistic.
Chief Executive Officer: Chief executive officer stands for C. E. O which involves establishing high level strategies. This person is in charge of everything also known for making decisions and arranging the resources and operations of the company. The CEO of United Airlines in Oscar Munoz. He was named CEO of the company on September 8th, 2015.
Executive vice president-HR and labor relations: This level of organization takes care of the human work experiences and needs Of United Airlines.
Chief revenue officer: Chief Revenue Officer stands for CRO is responsible for developing new strategies to ensure that productivity increases and costs are minimized.
Executive Vice President Strategy and Business development: This section in the structure is in charge of leading business strategies.
The executive vice president-communications and government affairs: This organizational structure manages media, advertising and marketing of the company.
United Airlines is responsible for offering air traveling internationally. In order to offer this service, the company needs to meet standards that can tremendously be affected by an incident in the supply chain. The operations managers at United Airlines need to manage the inputs, the transformation processes and finally the outputs, to assure the smooth running of the company. For United Airlines, the main inputs are natural resources such as oil, airplanes and human capital. The transformation process includes selling airplane tickets and provide air travel. The output ultimately is the traveling service.
Environmental variables are numerous for United Airlines, using the P. E. S. T model it is possible to clearly and concisely observe the variable affecting the company. Political-Legal Environment; if the cost of education rises this affects the corporation as it will have to raise its wages for its skilled employees like pilots and officers. As for environmental eventually laws against certain emissions can cause setbacks to how the company functions. Economic; if there were to be environmental regulations that restrict CO2 emissions, the corporation would suffer because they would have to limit flights and raise prices. Or they would have to pay big fines for breaking the law. Sociocultural; if a terrorist attack were to occur people would less likely want to fly any airline. As well as if a plane crash were to occur people would fear and trust less and would not want to fly. Technological; being a highly competitive industry, they always have to keep up with technology to be able to offer the best services. Also keeping up with new technologies could help minimize operational costs in the long run.
Using the S. W. O. T analysis, we can evaluate the strengths, weaknesses, opportunities and threats of the corporation.
Strengths: major strengths of United Airlines are their strong operational network, they have over 5000 flights a day across all 6 continents. They have strong employee productivity with over 88 000 employees and they have a really good inflight entertainment system, keeping up with the latest technology to keep their clientele satisfied. Weakness: major weaknesses are that severe incidents have occurred in the past as well as very recently. United airline’s planes were used in the 9/11 terrorist attack, this caused many to fear flying with any airline. Recently a man was kicked off his flight, this is making people give a second thought to flying with United. Their financial performance had weakened due to losses and incidents.
Opportunities: some opportunities include the growing tourism and travel industry, people are always looking to travel and discover the world. Recently, in the past decade, it has become more popular. As well as a growing U. S. airline industry.
Threats: major threats are other airlines with cheaper flight options, clients will prefer the more affordable airline. Fuel can be costly, rise in fuel causes costs to fly to rise, causing the number of flights sold to drop. If a recession were to occur, people will be less up to travelling or they won’t be able to afford to travel.
When it comes to ethical decision-making the airline takes the matter very seriously. Employees are not allowed to accept commission or any type of tip/reward for their work from clients. They encourage open communication and honesty. They limit conflicts of interest by not allowing workers to supervise loved ones or family members. If an employee were to have a second job, the job cannot interfere with work hours or performance at united. Employees are not allowed to use United’s resources outside of the workplace for example supplies or company email. They encourage fundraising. United employees must respect the privacy of their customer as well as the information of their company. They claim to “hold themselves to the highest standards in safety and reliability”. Safety is important to them. They spread the message to their clientele that they want to celebrate the journey together.
United Continental Holdings has an oligopolistic competition. The competition is international; however, their main competitors are American Airlines, Delta Air Lines, and Southwest Airlines. They are their major competitors because they operate in the same countries.
The company focuses on creating a sustainable future by being highly involved in the communities they serve, by being environmentally committed, concentrating on technology and facility and coworkers. These factors are very important due to the fact that they operated an environmentally and socially responsible business.
United Continental Holdings offers international transport to its clients. The most popular destinations include Beijing, Chicago, Denver, Houston, Los Angeles, Mexico City, Munich, New York, Paris, San Francisco, Tokyo, Washington D. C. Additionally, United Airlines is part of Star Alliance, an airline alliance which includes airlines such as Air Canada, Lufthansa and Turkish Airlines.
United Continental Holding is a public corporation which regroups 15 members on the board of directors.
Products: United Airlines provides intangible services such as flights, cruises.
Prices: The prices depend on the destinations and the classes (economy, business class). The prices of plane tickets are very elastic so the company tries to offer discounts and will try to lower prices if the demand isn’t high enough. The price of fuel will also have an impact on the customer’s purchases due to the high cost of fuel.
Promotion: They have a lot of special deals with very good prices such as ‘’deals of the week’’ to attract customers. They are also going to offer ‘’Economic Basic Fares’’ which provides customers the best price possible while giving them the same benefits such as food, Wi-Fi and also personal device entertainment.
Place: United Airlines plans on having more destinations and more flights with better connections in order to improve their customers’ flying experience.
Information technology is one of the driving forces of major airlines companies. The Information Technology team is responsible for finding new technologies, improving the current technologies, supporting the technologies in place and troubleshooting. For a company such as United Airline, the Information Technology will focus primarily on system security. It will make sure that the company is not vulnerable to viruses or hackers which could jeopardize the company’s data and its client’s. It will also make sure that all its servers a running smoothly and will monitor the website to look for price errors and/or mistakes made on the website. With the help of the R&D department, the IT department will improve the software found on the screens inside the planes.
One of the main human resources issues for United Airlines are the factors that can cause a conflict to occur when there is discipline involved. There are also problems with performance measurements and evaluations due to organizational influences, personal biases, and their difficulty to set qualitative standards. Other issues that they face with human resources are the problems which personal department has to deal with. These issues include subjective standards, rating errors, and negative communications.
They usually make around $37, $38 billion dollars a year. However, their net income did show some significant improvements. In 2012, even though the total revenue was around 37 billion dollars, the company did not make any profits at all and they actually lost more than 700 million dollars in that particular year. From 2013, they started making profits, starting at 500 million dollars and their net income kept on increasing till 2015, it reached 7 billion dollars (special items included). Unfortunately, their net income of 2016 went down to 2. 2 billion dollars. From 2013 to 2015, the net income growth of the company increased by a lot. For example, in 2014, their net income went up by 99% and in 2015, even much higher, more than 500%. Everyone who reads their income statement would be very surprised about these numbers and they would ask themselves ‘’500%? How is this possible?’’. The reason for their significant improvements is that they did NOT have to pay their income tax during those years. According to The Winglet, ‘’A profitable company may not pay taxes. For instance, years of deep losses can affect a tax bill. Accounting rules allow the airlines to offset taxes due with valuation allowances resulting from losses in past year. ’’ In other words, they took advantages of their losses in prior years to keep them from paying their income tax Income Statement (all numbers in $000).
As presented in the income statement, United Airlines did not do as well in 2016 compared to 2015. Their total revenue dropped 1. 5 billion dollars and their net income growth decreased by 69%. They also had to pay more than 1. 5 million for their income tax where they did not have to pay any tax in 2015. As a result of it, net income of United Airlines went down as mentioned before. June 2016: Their revenue decreased at a significant rate due to their inactivity and slow demand for some markets and in most regions of the world there is overcapacity. Due to this, United margins will be put under more pressure. In conclusion, 2015 was the best financial year for United Airlines so far.
In the future they plan on making improvements to its operation. They plan on presenting a plan to investors about “today plans for long-term earnings growth” by several strategic actions throughout the airline; improving network connectivity and revenue management, broadening product segmentation and introducing additional costumer enhancements. They are going to start offering basic economy fairs which provides customers with the lowest fares. They also plan to maintain disciplined cost control, this should improve revenue 4. 8 billion dollars by the year 2020. The airline intends to focus on more on time arrivals and fewer cancellations.
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Get custom essayOn April 9th 2017, the corporation faced a major incident that was raved about highly in the media. A doctor was violently dragged out of flight 3411 in Chicago, after refusing to give up his seat to a United Airline employee. This situation occurred due to an overbooked flight and unforeseen necessities. United Airlines is now facing negative publicity including from the U. S. president himself and a law suit by the doctor. They are losing clientele and facing great consequences. Other than the incident another issue with the airline are many delays on flights due to their system-wide computer problems.
Mercedes Benz is a well known brand name company that originated in German and it’s specialized in producing automobiles, buses, coaches, and trucks and is a division of its parent company, Daimler AG. Mercedes as a brand is equivalent with quality and elegance, and also it consider as one of the oldest automotive brand still existence until today. Mercedes-Benz is a German automotive company ranked 12th on 'best-global-brands 2011" same rank it got the previous year 2010, with current brand value of 27, 445 million dollars. This company is a multinational division of the German manufacturer Daimler AG, and the brand is used for luxury automobiles, buses, coaches, and trucks. With it headquarter in Stuttgart, Baden-Württemberg Germany. The name first appeared in 1926 under Daimler-Benz but traces its origins to Daimler's 1901 Mercedes and to Karl Benz's 1886 Benz Patent Motorwagen, widely regarded as the first automobile.
Get original essayMercedes-Benz is an automobile manufacturer based in Germany, a part of the "German Big 3" luxury automakers, along with Audi and BMW, which are the three best selling luxury automakers in the world. It is a multinational division of the German manufacturer Daimler AG. The Mercedes auto mobile was first marked in 1901 by Daimler-Motorn-Gesellschaft (Daimler Motors Corporation). The first Mercedes-Benz brand name vehicles were produced in 1926, following the merger of Karl Benz’s and Gottlied Daimler’s companies into Dailmer Benz Company on 28 June 1926. Its head quarter is at Stuttgart, Germany. The products are Automobiles, Buses, vehicles etc.
According to the company, it represents the automaker’s driver towards universal motorization with its engines dominating the land, sea, and air (three points). Yes indeed: the Mercedes-Benz emblem is symbol for the company’s plan for world domination.
To delight our customers in everything we are doing. To continually improve the effectiveness of our quality management system and our business processes. To have a professional relationship with our business partners.
Mercedes-Benz India is a Private sector where they designs, manufactures, imports, and sells Mercedes-Benz cars. The company also provides fleet solutions for small and medium enterprises; and preferential pricing, service support, and single window account management services for corporate and customers, as well as sells specially configured vehicles for hotels and rents vehicles for business requirements. In addition, it sources and sells auto components; and sells motorsports accessories and wristwatches, and bikes and biking accessories, as wells as functional gear.
A corporate is a business entity that is owned by its shareholder(s), who elect a board of directors to oversee the organization’s activities. Corporations can be for-profit, as business are, or not-for-profit, as charitable organizations typically are. So Mercedes Benz Company is cooperated business as its capital are divided into shares. And the business is owned by its shareholders and it operates its business mainly to earn profit and to expand its business. Internal business environment factors are:
The value system of a business organisation also determines its behaviour towards its employees, customers and society. The value system of the promoters of a business firm has an important bearing on the choice of business and the adoption of business policies and practices. Due to its value system a business firm may refuse to produce. Human resourcesThe employees can be either a strength or weakness of the company depending on the level of practical skills, attitudes toward work, and so on. For example, if a business has skilful and motivated workers, they are sure to be the biggest asset of this enterprise. Employees without trained and have negative attitudes to their task will be challenge for the company.
Money is the vital part for any enterprise to perform. No company can survive without having capital resources. Once a company has enough budgets, they can easily launch their projects and expand its scale. There are also several ways for an enterprise to maintain stable budgets by some resources such as investment opportunities, funding, and annual income.
To have a suitable organizational structure requires the owners have to consider carefully set up a system to work smoothly within the company. The heads of departments need to make sure that the information flow is widely conveyed to all customers. Suitable rules and regulations are being applied to ensure the benefits of employees, and the business as well.
External Micro Business Environment factors are:
Suppliers
Suppliers provide the company with raw materials, human resources, technology and components etc. Any organization which depends upon only one supplier will shut down soon. Therefore it is very necessary for the organization to keep in touch with different suppliers.
Customers
Customers are treated as king for business. They are the only reason why the business is in existence. A firm may have variety of customers from whole sellers, retailers, domestic buyers, to foreign buyers and so on. CompetitorsIt means the parties who are producing the same kinds of products. So the companies have to make different kinds of selling strategies to promote their products.
External Macro business environment factors are:
Political Factors
Since the company has invented the automobile, it has been responsible for expanding the company worldwide therefore it has to deal with having a foreign policy about of importation of manufactured goods. Therefore the political issues related to automotive industry is complicated and complex. .
Economic factors
Mercedes-Benz has troubles due to international currency fluctuations. There is ongoing global slowdown due to a different scale of tax and revenue measurement. It also affects the selling of the product. Exchange rate between Euro and Ringgit cars. It makes the European car more expensive when selling in Malaysia due to currencies exchange rate.
Due to the problems of global warming, Mercedes-Benz has invented electric cars and small cars for reduced spaces. They have also invented an environmentally friendly car called the BLOME. This car gives off oxygen from its flue pipe. The roof of the car is made of transparent organic solar cells.
Technology plays a very important role in promotion and production. It has made the industry reduce the labour force. As a result of the low labour forces, Mercedes can save cost. The use of advanced technology, Mercedes can now produce more cars in a short period of time.
Environmental activists are becoming more active and aggressive. Besides, it is also discovered that consumers are seemingly becoming more environmental conscious, where they may even consider if the car manufactured by a particular company has the lowest CO2 emission.
According to the dictionary swot analysis means a study undertaken by an organization to identify its internal strengths and weaknesses, as well as its external opportunities and treats. Swot analysis is a frame work used to evaluate a company’s competitive position by identifying its strengths, weaknesses, opportunities and threats. Swot analysis is a foundational assessment model that measures what an organisation can and cannot do, and its potential opportunities and threat. The swot analysis of the Mercedes-Benz evaluates the strengths, weakness, opportunities and threats before the luxury vehicle brand.
Strengths
Weakness
Opportunities
Threats
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Get custom essayFor Mercedes-Benz to remain one of the most sought-after vehicle brands without breaking the bank of the buyers, I recommend the following:
It is a style that consists of a blazer and pant. Usually the pants are of different colour from the blazer. The pant can be jeans, khakis or slacks. The shirt can be a Polo shirt, open-collar blouse or dress shirt.
Get original essayThe Business Casual attire did not exist until recently. They used to have only night wear and day wear attire. When the light was out, men used to wear a stroller coat or a morning coat during the working hours and when darkness came, they changed into a tailcoat for dinner and events. When they reached home, they would wear pajamas which usually their spouses would only see them wearing those pajamas. The most casual clothing a man would wear would have been maybe a tweed suit while taking a walk around his area or go for shooting. After the turn of a century, the black tie started appearing and the tuxedo became the more popular one surpassing the white dress code. Business suits became a normal thing and it remained like that for quite awhile.
Before the year 1996 came, you had casual wear and business attire. Casual wear was worn on the weekends at home, but if you worked in an office, you wore a suit and a tie. There was no debate. Then, a company that made Hawaiian shirts began to strategize how they could increase their profits and a brilliant ad agency in Hawaii came up with the idea of “Aloha Fridays”. They began petitioning local businesses to allow their employees to wear the Hawaiian shirt on Fridays. Initially penned as a way of showing local pride, it ended up quickly becoming a trend and a popular way of avoiding the rat race of corporate America. The fad began to catch on and soon it hopped off the Islands and made its way to the mainland.
By the early 1990’s Levis began to notice the trend on the mainland and many of its customers in upper management began complaining that their employees were too casual, wearing shorts and t-shirts to work. The sale of jeans was in decline and so they took it as a chance to market their new brand called ‘Dockers’ to the corporate community. They began to launch expensive ad campaigns for their khaki pants and it took off. Employers looked at it as a fair compromise between shorts and suits and the employees agreed. As this was occurring, television shows like Saved by the Bell and movies about wealthy country clubs began showing the Preppy, Ivy and Trad styles to those outside the Northeastern United States. Companies like Brooks Brothers, Ralph Lauren and J.Crew jumped on the opportunity to increase the sale of their casual wear. They began marketing polo shirts, sport shirts and chinos as perfect options that worked flawlessly or better than the Levi Dockers brand. It was a revolution of sorts.
By evaluating the case study the first point which comes to mind is business ethics and business morals, ethical standards that may be involve in any business environment. Briefly to say, Ethics is the moral standards of what is right and what is wrong which applies to the people and any organizations. Moreover, these standarts can be guided or affected by various viewpoints. For instance, culture of the people, our religion, corporate culture and social impacts.
Get original essayIn this manner, the utilization of individual morals in settling on business choices is called business morals. Back to our case study “Boeing” company puts awesome accentuation on business morals as far as their business tasks and furthermore have an arrangement of moral directions to manage their workers. Taken examples from the case study we can see that they don't take part in any action that may make an irreconcilable situation for the organization and they don't exploit their Boeing position to look for individual gain through the unseemly utilization of Boeing or non-open data or mishandle of their position.
Putting the above into thought, we can also say that the “Boeing” completely express consolidating such moral norms into their association. They have additionally expressed that 'The Board and the corporate officers perceive that the long haul interests of the organization are propelled when they are receptive to the worries of networks, clients, representatives, open authorities, investors and providers.'
This reveals to us that they do esteem CSR, which happens to be something worth being thankful for in any business condition and can empower association to keep up their corporate picture in the corporate world. Besides there are many motivation behind why associations may choose to join morals into their business, for example, the accompanying: to get a reward ,to be receptive to their condition and partners. Organizations will evaluate whether business morals is good or bad for them to figure out which morals to fuse on the off chance that they are at all important.
In 1998, The US Air Force found that Boeing has inappropriately acquired and spread exclusive data having a place with Raytheon, a contender for an agreement to fabricate modern rockets. “Boeing “ is compelled to pull back from the opposition. Along these lines this contextual investigation presents why morals are as vital for Boeing as they help to cultivate and maintain a culture of genuineness and responsibility. Furthermore, the execution of morals helps Boeing in managing moral issues. Reason being, morals are required in the business condition, where laws are deficient.
The second learning point is relates to administration and book keeping. For this situation there are various circumstances that demonstrate poor administration and control inside the association. Administration In a business plays a crucial role as this is success of any businesses. Four main practices should be involves: planning,organizing, leading and controlling. When putting the case into thought we can see that the over criteria's of administration were not successfully actualized, on the grounds that different issues emerge that demonstrated poor authority and generally speaking administration.
In 1998 when Boeing legal advisors coincidentally let slip that there were 3000 pages of Lockheed reports found in Branch's documents. The Air Force ended up suspicious of the distinctive numbers originating from Boeing and requested an appropriate count. Boeing admitted to 25,000 pages of stolen reports. This issue ended up greater and greater adding up to 66000 reports altogether. This demonstrates the organization did not great control, and record keeping was not up to standard.
It is essential for organizations to do inward and outer control with regards to accounting and their reviews ought to be progressive to stay away from such issues and deceitful exercises of archive thefts. Because of this administrative infringement, the organization confronted outcomes, for example, the Pentagon communicated its dismay by dropping $1 billion of dispatches by Boeing and suspending its rocket division from offering on future government contracts.
So in this learning point we discover that straightforwardness in business is imperative and archives ought to be well kept and checked by inside and outside examiners. Reason being, such oversights and government law infringement can cause the organization a considerable measure of cash and furthermore make a terrible picture for the business.
The third point features the aggressiveness in the business condition. In this, we discover that the business condition is exceedingly unpredictable and aggressive, and accordingly organizations need to keep up proficient specialists who can convey the best items and administrations in their specific territory of work with the goal that the business can keep up its piece of the pie.
For this situation think about we have seen watched the accompanying situations:In 1995, the US Air Force declared the Evolved Expendable Launch Vehicle (EELV) program for the making of another age of cutting edge yet moderate rockets, evaluated to be worth more than $15 billion throughout the following 20 years. Boeing and one other contender were wiped out in the first round in December 1996, however Boeing figured out how to remain in the race by obtaining McDonnell Douglas, one of the other EELV finalists.
Here we discover that as an organization,Boeing in every case should be prepared for new developments that could supersede their specialized insight, and the most ideal approach to get ready for these progressions and contenders is by arranging and watchful similarity of their industry. On the off chance that they are not ready to beat their rivals by creating fantastic rockets, they will in the long run lose a large number similarly as they have lost a huge number of dollars as indicated by this contextual analysis.
All things considered, it is clear that so as to remain in front of your rivals, a business needs to keep up a decent corporate picture, and stick to corporate administration to dodge huge embarrassments, for instance, Boing for this situation think about. As we have watched this outrage continued for quite a long time and archives were controlled again and again, they have likewise sold some unfit merchandise to China, and these sort of government infringement can take months, years or in some cases even a long time to clear up.
Firstly, it is imperative to understand the underlying ethics in sports and competitions. Then, we need to highlight the differences between gamesmanship and sportsmanship.
Get original essayGamesmanship is built on the principle that winning is everything. Athletes and coaches are encouraged to bend the rules wherever possible in order to gain a competitive advantage over an opponent, and to pay less attention to the safety and welfare of the competition. Some of the key tenants of gamesmanship are:
Winning is everything It’s only cheating if you get caught It is the referee’s job to catch wrongdoing, and the athletes and coaches have no inherent responsibility to follow the rules The ends always justify the means
Some examples of gamesmanship are:
All of these examples place greater emphasis on the outcome of the game than on the manner in which it is played.
A more ethical approach to athletics is sportsmanship. Under a sportsmanship model, healthy competition is seen as a means of cultivating personal honor, virtue, and character. It contributes to a community of respect and trust between competitors and in society. The goal in sportsmanship is not simply to win, but to pursue victory with honor by giving one’s best effort.
Ethics in sport requires four key virtues: fairness, integrity, responsibility, and respect.
All athletes and coaches must follow established rules and guidelines of their respective sport. Teams that seek an unfair competitive advantage over their opponent create an uneven playing field which violates the integrity of the sport. Athletes and coaches are not discriminated against or excluded from participating in a sport based on their race, gender, or sexual orientation. Referees must apply the rules equally to both teams and cannot show bias or personal interest in the outcome.
Similar to fairness, in that any athlete who seeks to gain an advantage over his or her opponent by means of a skill that the game itself was not designed to test demonstrates a lack of personal integrity and violates the integrity of the game. For example, when a player fakes being injured or fouled in soccer, he or she is not acting in a sportsmanlike manner because the game of soccer is not designed to measure an athlete’s ability to flop. Faking is a way of intentionally deceiving an official into making a bad call, which only hurts the credibility of the officiating and ultimately undermines the integrity of the game.
To be sportsmanlike requires players and coaches to take responsibility for their performance, as well as their actions on the field. This includes their emotions. Many times athletes and coaches will make excuses as to why they lost the game. The most popular excuse is to blame the officiating. The honorable thing to do instead is to focus only on the aspects of the game that you can control, i.e. your performance, and to question yourself about where you could have done better. Responsibility requires that players and coaches be up to date on the rules and regulations governing their sport. Responsibility demands that players and coaches conduct themselves in an honorable way off the field, as well as on it.
All athletes should show respect for teammates, opponents, coaches, and officials. All coaches should show respect for their players, opponents, and officials. All fans, especially parents, should show respect for other fans, as well as both teams and officials.
The sportsmanship model is built on the idea that sport both demonstrates and encourages character development, which then influences the moral character of the broader community. How we each compete in sports can have an effect on our personal moral and ethical behavior outside of the competition.
Some argue for a “bracketed morality” within sports. This approach holds that sport and competition are set apart from real life, and occupy a realm where ethics and moral codes do not apply. Instead, some argue, sports serves as an outlet for our primal aggression and a selfish need for recognition and respect gained through the conquering of an opponent. In this view, aggression and victory are the only virtues. For example, a football player may be described as mean and nasty on the field, but kind and gentle in everyday life. His violent disposition on the field is not wrong because when he is playing the game he is part of an amoral reality that is dictated only by the principle of winning.
An ethical approach to sport rejects this bracketed morality and honors the game and one’s opponent through tough but fair play. This means understanding the rules and their importance in encouraging respect for your opponent, which pushes you to be your best.
The popular belief of most Nigerian men is that all what ladies need is your money and the material things you can offer them. An average Nigerian man sees ladies as pests and dependants. This theory isn't totally right, there are ladies doing well for themselves in several fields. It's in your hands to break the cycle of "Nigerian ladies are lazy". There are several wave-making business ideas for women and gladly most ladies are accepting these ideas. Gone are the days when women stay at home all day, cooking and doing house chores while the men go out working their ass out just to feed the family. Do not misinterpret this. Women still cook and take care of their homes but they still give some space for work and businesses. No woman loves to sit at home all day doing nothing.
Get original essayThese days, some women are working as employees while some are into profitable businesses that can easily be established with a little sum of money. From female managers, CEOs entrepreneurs to online businesswomen, we can't but admire the prowess of our females. Here are the list of some profitable businesses you can go into as a woman and make it big. The good thing about these businesses is that, you don't have to be swimming in millions before you engage in them. It's not a must to start big but it's a must to THINK BIG.
Recent times have shown us different mind blowing ways of styling hair. Both males and females are willing to spend any amount just for them to look fabulous with good hairstyles. To go into this business, make sure you're creative enough. No one wants the same pattern of hair all the time. Learn some skills in styling hairs and work on your creativity. Know the right hair products for the right hair. Know the difference between styling a natural hair and styling a relaxed hair. To boost your business, you can employ other creative stylists in order to carve a niche for yourself. This business is lucrative. As we can see, the prices of artificial attachments and hair products are going higher daily, so also is the stylist fee. If you can capture your clients hearts, then you're on the way to making it big.
If your hobby is cooking and trying out new recipes, you can give this a thought. Food business is a very good business because a week is never complete without a number of parties. The advantage of this business is that you can start it with little or no capital. You can rent cooking equipment and utensils till you're buoyant enough to buy yours. When you're called for an event, you can demand half payment and use that to prepare the necessary things and after the party, you collect your balance, pay for the rented equipment and keep your profit. You can cook the food at the comfort of your home and carry it to the event's venue or you can cook it at your client's place, if permitted. If you know you're a great cook with some magical touch, then this is for you.
In Nigeria, ladies are making waves easily in the blogging world than their make counterparts. There are some female Nigerian bloggers who are doing great in this field like Linda Ikeji, Uche Pedro, Ladun, Liadi, Stella Dimokorkus, Ono Bello, Laila, Emeh Achanga, Hadassah etc. Blogging is fun, interesting, trending and profitable. It may not be easy at first but the moment your blog has enough traffic, you can easily make money from it. Before engaging in blogging, make sure you find your style and discover the niche you're interested in. The women listed up there have great passion for blogging and their determination helped them achieve greatness today. As a female, you can consider blogging about food, entertainment and gists, make up, fashion, business, job and relationship.
This business has been trending for a long time. You don't even need to get a big shop to start this, you can start in a corner of your room and churn out beautiful and breathtaking Jewelries. The sad thing is, almost all ladies have this skill, they see it as a norm but they do not know that it can be turned into a big business. Bead making and Jewelries making is not just all about turning beads or pearls into necklaces, earrings or bangles. You can invent your own ideas that will bring in more money and attract fame to your brand. If you can make beautiful Jewelries and you know you're creative, do not ignore this idea.
If you know the way you organize things is top notch, congratulations! You can turn this into an avenue of making money from event planning. The sweet thing is, you don't need an office or a big company with many workers to be an event planner. All you need is the skill to plan and organize big weddings, parties, birthdays, anniversaries and other big occasions. As we all know that the demand for event planner is rising in recent times. This is because most people don't want to go through the stress of thinking and organizing for their big day. They want a settled brain in preparation for the day of the event. If you can get at least a client every week, I can assure you that you will fall in love with bank account balance.
Presently, this is one of the most lucrative business in Nigeria and the world at large. All you need to do is to go for the necessary training. It can be stressful, time consuming but it's rewarding. Fashionable dresses are taking over the world. If you're good enough to make people smile when they check their outfits in the mirror, then you're stepping on the stone that leads to wealth. The secret is , fashion designers sell their skills and time, not the sewn style . A dress might be plain looking but very expensive. You're paying for the skill, stress and time and not the style. If you are good at creating different styles without looking at fashion books styles, then this is a plus for you.
When a lady go into a job mainly meant for men, she tends to succeed and over take the men she met in the business. Have you ever given this a thought? For an event, most men will rather go for a female photographer than a male photographer. Acquiring photography skills won't take you less than a month and you can start it with little or no capital. You can rent a camera for a start and go to the Photo Lab to print your pictures out. Nobody will ever reject a beautiful picture of himself or herself. As long as you can make people look more beautiful than they actually do, then be rest assured that you will see clients swarming around you and what's the meaning? It means MORE MONEY! If you can make a name for yourself, you're already in money. There are some Nigerian photographers who charge as high as 300k to 500k for just a small event yet clients pay the amount of money charged. They are not paying for the beautiful pictures but for the name.8. Freelance writing We have so many profitable online jobs these days. You can sit in your home and make money with your laptop. If you've got a great and captivating choice of words, You can be a freelance writer. As long as you can keep your readers glued to the screen of their phones, Ipads or PC, this will single out your name out of many writers out there.
So be expecting different writing offers from big organizations.Do not wait for the government to provide a job for you, create a job for yourself. You know the number of graduates the country produces annually? Do not expect the government to fend for all of them. Don't be part of the "I'm still looking for job after years of been a graduate" crew. Change the cycle. Be your own boss. Dictate the time for your vacation. Be the one to pay your workers. Break free from the claws of "I've not received my salary". Be a businesswoman with a touch of difference. Write your name on the Marble and it will forever be etched in history.
"In the early 1990s, Howard Dresner, then an analyst at the Gartner Group, coined the term business intelligence due to the growing need for applications designed to support decision making based on data collected. Nowadays, business leaders and top management have access to more data than ever before; however data by itself doesn’t generate insights. Business Intelligence (BI) Tools have become the go-to resource for helping companies harness the power of big data and analytics and make smarter, data-driven decisions. During the various years, there have been various definitions of BI according to its form, usage and the industry it is applied to. Many of them are focused only on the software used for business intelligence and neglect to include the primary goal of business intelligence. While the term is often heard in relation to software vendors, there’s more to BI than just software tools.
Get original essayBusiness intelligence became a popular term in the business and Information Technology (IT) communities only in the 1990s. Business intelligence (BI) refers to a managerial philosophy and a tool used to help organizations manage and refine business information with the objective of making more effective business decisions (Ghoshal and Kim, 1986; Gilad and Gilad, 1986). Dresner (1988) defined business intelligence as the “concepts and methods to improve business decision making by using fact-based support systems.” The term BI can either be used to refer to the relevant information and knowledge describing the business environment, the organization itself, and its situation in relation to its markets, customers, competitors, and economic issues or to an organized and systematic process by which organizations acquire, analyze, and disseminate information from both internal and external information sources significant for their business activities and for decision making (Lönnqvist and Pirttimäki, 2006). In European literature, the term BI is considered a broad umbrella concept for competitive intelligence (CI) and other intelligence-related terms, such as market intelligence, customer intelligence,competitor intelligence, strategic intelligence, and technical intelligence. Indeed the term has been defined front several perspectives (Casado, 2004), however they all focus on a shared purpose, analyzing data and information.
As Gilad and Gilad (1986) have stated, organizations have collected information about their competitors since the dawn of capitalism. The real revolution is in the efforts to institutionalize intelligence activities. BI presents business information in a timely and easily consumed way and provides the ability to reason and understand the meaning behind business information through, for example, discovery, analysis, and ad-hoc querying (Azoff and Charlesworth, 2004). Today, business intelligence is defined by Evelson and Nicolson (2008) at the Forrester as “a set of methodologies, processes, architectures, and technologies that transform raw data into meaningful and useful information usedto enable more effective strategic, tactical, and operational insights and decision-making.” Business Intelligence today is never a new technology instead of an integrated solution for companies, within which the business requirement is definitely the key factor that drives technology innovation (Ranjan, 2009).
Ranjan (2009) stated that the major challenge of a BI application to achieve real business impact is to identify and creatively address key business issues. After discussing the many definitions of BI, the question of why do companies use it naturally arises. The primary goal is tostay ahead of the competition and make the right decision at the right time. Those decisions can be made around pretty much any aspect of running a business, such as figuring out how to increase the effectiveness of marketing campaigns, deciding whether and when to enter new markets, and improving products and services to better meet customers’ needs. One of the key aspects of business intelligence is that it’s designed to put information in the hands of business users.
Organizations are required to make decisions at an increasingly faster pace, so today’s business intelligence tools help decision makers access the information they need without having to first go through the IT department or specifically designated data scientists.
BI includes several software for Extraction, Transformation and Loading (ETL), data warehousing, database query and reporting, (Berson et.al, 2002; Curt Hall, 1999) multidimensional/on-line analytical processing (OLAP) data analysis, data mining and visualization.
Business intelligence all starts with the data. As mentioned in the introduction, businesses have access to more data than ever. Data sources can be operational databases, historical data, external data (from market research companies or from the Internet), or information from the already existing data warehouse environment. The data sources can be relational databases or any other data structure that supports the line of business applications. They also can reside on many different platforms and can contain structured information, such as tables or spreadsheets, or unstructured information, such as plaintext files or pictures and other multimedia information.
A key part of BI is the tools and processes used to prepare data for analysis. When data is created by different applications, it’s not likely all in the same format, and data from one application can’t necessarily be looked at in relation to data from another. In addition, if business intelligence is relied on to make critical decisions, businesses must make sure the data they are using is accurate. The process of getting data ready for analysis is known as Extract, Transform, and Load (ETL). The data is extracted from internal and external sources, transformed into a common format, and loaded into a data warehouse. This process also typically includes data integrity checks to make sure the data being used is accurate and consistent.
The data warehouse is the significant component of business intelligence. It is subject oriented, integrated. The ETL process ends with data being loaded into the warehouse, because when the data is contained within the separate sources, it’s not much use for intelligence. A data warehouse is a repository containing information from all the business’s applications and systems, as well as external sources, so it canbe analyzed together. A data mart as described by (Inmon, 1999) is a collection of subject areas organized for decision support based on theneeds of a given department. Similar to data warehouses, data marts contain operational data that helps business experts to strategize based on analyses of past trends and experiences. The key difference is that the creation of a data mart is predicated on a specific, predefined need for a certain grouping and configuration of select data. There can be multiple data marts inside an enterprise. A data mart can support a particular business function, business process or business unit. OLAP (On-line analytical processing) It refers to the way in which business users can slice and dice their way through data using sophisticated tools that allow for the navigation of dimensions such as time or hierarchies. Online Analytical Processing or OLAP provides multidimensional, summarized views of business data and is used for reporting, analysis, modeling and planning for optimizing the business. OLAP techniques and tools can be used to work with data warehouses or data marts designed for sophisticated enterprise intelligence systems.
It is referred to as data mining, forecasting or predictive analytics, this takes advantage of
statistical analysis techniques to predict or provide certainty measures on facts.
Corporate Performance Management (Portals, Scorecards, and Dashboards)
This general category usually provides a container for several pieces to plug into so that the
aggregate tells a story.
Real time BI
It allows for the real time distribution of metrics through email, messaging systems and / or interactive
displays.
Overall, Business Intelligence provides benefits to companies utilizing it. Initially, BI reduces IT infrastructure costs by eliminating redundant data extraction processes and duplicate data housed in independent data marts across the enterprise. For example, 3M justified its multimillion- dollar data warehouse platform based on the savings from data mart consolidation (Watson, Wixom, and Goodhue, 2004, pp. 202-216). Moreover, it can eliminate a lot of the guesswork within an organization, enhance communication among departments while coordinating activities, and enable companies to respond quickly to changes in financial conditions, customer preferences, and supply chai operations. Over time, organizations evolve to questions like “Why has this happened?” and even “What will happen?” As business usersmature to performing analysis and prediction, the level of benefits become more global in scope and difficult to quantify (Watson andWixom, 2007). Information is often regarded as the second most important resource a company has (a company's most valuable assets are its people). So when a company can make decisions based on timely and accurate information, the company can improve its performance. However, there are also a few issues regarding Business Intelligence. Firstly, Most BI benefits are intangible before the fact. An empirical study for 50 Finnish companies found most companies do not consider cost or time savings as primary benefit when investing in BI systems (Hannula and Pirttimaki, 2003). The hope is that a good BI system will lead to a return at some time in the future. Secondly, experts view BI in different ways. Ranjan (2009, pg 62-63) is of the opinion that to data mining experts BI is set of advanced decision supportsystems with data mining techniques and applications of algorithms, while to statisticians BI is viewed as a forecasting and multidimensional analysis based tool. Data warehousing experts view BI as supplementary systems and is very new to them. These experts treat BI as technology platform for decision support application. Third, very few organizations have a full-fledged enterprise data warehouse. The main key to successful BI system is consolidating data from the many different enterprise operational systems into an enterprise data warehouse. Berson (2002) emphasizes that in view of emerging highly dynamic business environment, only the most competitive enterprises will achieve sustained market success. The organizations will distinguish themselves by the capability to leverage information about their market place, customers, and operations to capitalize on the business opportunities.
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Get custom essayThe business intelligence (BI) has evolved over the past decade to rely increasingly on real time data. Enterprises today demand quick results and it is essential that not only is the business analysis done, but also actions in response to analysis of results and instantaneously parameters’ changes of business processes. The paper explored the concepts of BI, its components, benefits and issues of BI. It is importantto examine the impact BI has on each individual company and on the economy as a whole. The possible future of Business Intelligence lies in cloud computing. Security, data protection, lack of control, and several other barriers prevent widespread adoption of the BI; however cloud computing promises significant benefits, which need to be maturely and reasonably assessed.
Business Intelligence refers to discovery of hidden patterns, correlations and other insights by implementing techniques, tools and methods that can help in better decision making. Organizations are investing in BI tools to help solve difficult problems and unleash new opportunities in the respective industry. It is possible to get confused between information and knowledge while analyzing large data. With use of new tools to get answers in short time businesses are becoming more digitalized, data driven and automated.
Get original essayThe main aim is to identify trends to assess events occurred in past to find valuable insights to predict what will happen in future. Common uses of BI in organizations are optimizing marketing campaigns, improving operations, Risk Reduction, knowing competitors and expanding business to earn value.
PayPal strengthens it’s market by using Business Intelligence through PayPal Here. The company aims to keep a track of its inventory through use of BI tools and processes that can help to restock without wasting more time. The company is planning to introduce facial recognition technique to validate payments. This will enhance company’s business thereby profiting small businesses and allowing retailers to process card payments from mobile devices. Through use of inventory management and business intelligence PayPal allows retailers to maintain sale records without need of manual recounts.
Face recognition allows to automatically analyze data and gain insights to expand and grow in business. Detailed reporting helps to ensure business is on track and ensures proper growth. With blended use of technology and Business Intelligence processes PayPal aims to provide more user-friendly experience for customers and shoppers such that they can pay for purchases of goods on app itself. This will embrace mobile payments and digitalization.
The company's progress depends on the amount of proper analysis done using big data and proper BI tools and strategies. The transactional data records of the consumers who purchase the products are kept in a loop, spreading them to different merchants. Leveraging transactional data could create high standards of information security requirements for the company and employees. Example: “Online commerce giant eBay asked users to change their passwords after hackers stole encrypted passwords and other personal information, including names, E-mail addresses, phone numbers.
Cyber attackers compromised a small number of employee log-in credentials, allowing unauthorized access to eBay's corporate network.” From the PayPal's example we come to know that any fraudulent transactions the company suspects should be kept on hold until the user who initiated the transaction is notified. Though being an inevitable part, sharing information on websites possesses a threat to customer's privacy which should be taken care.
Business Intelligence is an ever-transforming field and the scale of data aggregation and analysis is escalating with a larger magnitude. PayPal ranks amongst the top 5 payment companies by market capitalization as it makes use of BI processes and tools. Nevertheless, the ethical considerations and fair information and privacy principles should also be maintained. Applying ethical considerations should always begin with the realization that the decisions made based on the outcomes of analytics can have a negative effect on people, that certain information should not be collected for the purposes of analytics and for gaining profit. There should be boundaries and limits on the types of assumptions that can be made about people’s future intentions.