Firm Essays(Examples)
Study Document
Purchasing And Supply Management
Purchasing and Supply Management
Introduction
Why is purchasing and supply management so important to a firm’s success? Burt (2010) perhaps puts it best: “Historically, supply management has been considered important because of its impact on costs” (p. 9). In … perhaps puts it best: “Historically, supply management has been considered important because of its impact on costs” (p. 9). In other words, a firm seeking to be competitive and profitable must have a good purchasing and supply management process in place—otherwise it risks watching its bottom line … for the company by purchasing supplies at the lowest price possible from a reliable supplier; 2) to manage relations well so that the firm and its supplier can engage in meaningful and mutually beneficial business; 3) to improve quality for the firm; 4) to promote the pursuit of innovation; 5) to leverage new technology whenever possible; and 6) to reduce risk and……
References
References
BDC. (2019). 6 ways the purchasing department can improve your business. Retrieved from https://www.bdc.ca/en/articles-tools/operations/purchasing/pages/purchasing-department-objectives.aspx
Benton, W. C. (2013). Supply chain focused manufacturing planning and control. Nelson Education.
Burt, D. N. (2010). Supply Management, 8th Edition. Devry.
Harland, C., Brenchley, R., & Walker, H. (2003). Risk in supply networks. Journal of Purchasing and Supply management, 9(2), 51-62. Retrieved from http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.471.2910&rep=rep1&type=pdf
Holmlund, M. & Strandvik, T. (1999) Perception configuration in business relationship, Management Decision, 37(9), 686-696
MacNeil/Lehrer Productions (Producer). (1999). Your computer, your way: Dell and thedirect sales model [Video file]. Retrieved from https://libraryresources.columbiasouthern.edu/login
Monczka, R. & Handfield, R. (2016). Purchasing and supply chain management. Boston, MA: Cengage.
NC State University. (2003). Negotiating for success. Retrieved from https://scm.ncsu.edu/scm-articles/article/negotiating-for-success
Study Document
Cloud Computing And Cost Effectiveness
… training, infrastructure, and software. Also, a key feature of cloud computing is its capacity to diminish the financial burden that is placed on firms in technology adoption. The authors also demonstrate that cost reduction can be achieved through the capability to shift from a CAPEX cost structure … powered or priced to operate the web-based applications. Taking into consideration that the applications are run in the cloud, it implies that the firm reduces the costs incurred in investing in personal computers or desktop software. Cloud computing also facilitates cost-effectiveness within the organization based on diminished … achieve cost savings through cloud computing. Different from desktop computing, where hard disk crashes can result in the destruction and loss of the firm’s valuable data and information, the same does not apply in the cloud where data is stored effectively.
The cost-effectiveness of cloud computing is … the eradicated necessity for maintaining……
References
References
Attaran, M. (2017). Cloud Computing Technology: Leveraging the Power of the Internet to Improve Business Performance. Journal of International Technology and Information Management, 26(1), 112 – 137.
Carcary, M., Doherty, E., & Conway, G. (2015). The adoption of cloud computing by Irish SMEs- an exploratory study. Electronic Journal of Information Systems Evaluation, 17(1), 3.
Elmonem, M. A. A., Nasr, E. S., & Geith, M. H. (2016). Benefits and challenges of cloud ERP systems–A systematic literature review. Future Computing and Informatics Journal, 1(1-2), 1-9.
Shankar, K. (2016). Effectiveness of Cloud Computing in Global Business. Journal of Applied Management-Jidnyasa, 8(1), 66-73.
Xue, C. T. S., & Xin, F. T. W. (2016). Benefits and challenges of the adoption of cloud computing in business. International Journal on Cloud Computing: Services and Architecture, 6(6), 01-15.
Study Document
Enterprise Risk Management In Wells Fargo During The Pandemic
… evaluate, and reduce the impact of potential dangers, threats, and challenges that could be catastrophic or damaging for the organization. ERM allows the firm to reduce exposure to these risks by preparing for them through safety mechanisms, altering strategy so as to avoid them, or developing a … The aim of ERM is to address the issue of risk holistically, comprehensively and from the macro perspective so as to enable the firm to pursue without constraint its goals and objectives (Sweeting, 2017). Managing risk effectively depends upon an organization’s ability to identify and deal with … before initiating a strategy. Its attempt to collect commission fees from customers without customers knowing it was a quick way to enhance the firm’s revenue stream, but an ERM manager would have quickly seen this as a short-sighted, unethical and highly-risky way to increase revenue; for once … would decline. ERM looks beyond……
References
References
Beasley, M. (2020). How to Leverage ERM Principles to Better Respond to COVID-19-Related Risks. ERM Professional Insights.
Derysh, I. (2020). Watchdog questions why Wells Fargo reported giving only one large PPP loan to a Black-owned business. Retrieved from https://www.salon.com/2020/07/22/watchdog-questions-why-wells-fargo-reported-giving-only-one-large-ppp-loan-to-a-black-owned-business/
English, C. (2020). Wells Fargo Forced to Cut Its Dividend After Fed Stress Test. Here’s What Other Banks Did. Retrieved from https://www.barrons.com/articles/wells-fargo-forced-to-cut-its-dividend-after-fed-stress-test-51593467664
Hall, J. (2007). Internal Auditing and ERM: Fitting in and Adding Value. Retrieved from https://global.theiia.org/about/about-the-iia/Public Documents/Sawyer_Award_2007.pdf
Kaplan, R. & Mikes, A. (2012). Managing risks: A new framework. Harvard Business Review, 3.
Lewis, M. (2010). The Big Short. NY: W. W. Norton.
Lundqvist, S. (2014). Abandoning Silos for Integration: Implementing Enterprise Risk Management and Risk Governance. Lund University.
Morgenson, G. (2020). More Wells Fargo customers say the bank decided to pause their mortgage payments without asking. Retrieved from https://www.nbcnews.com/business/personal-finance/more-wells-fargo-customers-say-bank-decided-pause-their-mortgage-n1234610
Study Document
COVID 19 In South Africa Nigeria And Swaziland
… are formulated with the help of formal rules and regulations, as that would reflect how they are conversed across all levels of the firm and in what way people are obeying them. This would ultimately build an organizational culture for coping with social and political issues. The … participants. When an organization is working on a multinational level, there are many new entrants with diverse backgrounds. Change takes place within the firm in the form of structural change, process change, and change in hierarchy. The concepts and principles are translated across all levels of the … levels, such as changes in relations within the organization, changes in limits of the existing organization, and governance structures. The ‘structuration’ within the firm signifies the density of connections since it creates bonds between the rules and the participants, mainly what is stated in institutional theory, through … connections since it creates bonds……
References
References
Coelho, A. (2019). The role of informal institutions in the enforcement of rules and how to improve corporate and public governance in Brazil: Studies based on a set of corporate governance cases involving state-owned companies (Working Paper). Retrieved from SSRN website https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3434037
Dacin, M.T., Goodstein, J. & Scott, W.R. (2002). Institutional theory and institutional change: Introduction to the special research forum. Academy of Management Journal, 45(1), 45- 47. DOI: 10.2307/3069284
Escandon-Barbosa, D.M., Urbano, D., Hurtado-Ayala, A., Paramo, J.S. & Dominguez, A.Z. (2019). Formal institutions, informal institutions, and entrepreneurial activity: A comparative relationship between rural and urban areas in Colombia. Journal of Urban Management, 8(3), 458-471. https://doi.org/10.1016/j.jum.2019.06.002
Estrin, S. & Prevezer, M. (2010). The role of informal institutions in corporate governance: Brazil, Russia, India, and China compared. Asia Pacific Journal of Management, 28, 41- 67. https://doi.org/10.1007/s10490-010-9229-1
Kaufmann, W., Hooghiemstra, R. & Feeney, M.K. (2018). Formal institutions, informal institutions, and red tape: A comparative study. Public Administration, 96(2), 386-403. https://doi.org/10.1111/padm.12397
Meluch, A.L. (2016, August). Understanding the organizational and institutional origins of social support in a cancer support center. (Unpublished doctoral dissertation). Retrieved from https://etd.ohiolink.edu/!etd.send_file?accession=kent1466944822&disposition=inline
Torniainen, T.J. & Sasstamoinen, O.J. (2007). Formal and informal institutions and their hierarchy in the regulation of the forest lease in Russia. Forestry: An International Journal of Forest Research, 80(5), 489-501. https://doi.org/10.1093/forestry/cpm033
Study Document
Manufacturing Systems In Automotive Industry
… line to be significantly safer for personnel by organizing robots to tackle hazardous situations. More so, incorporating automated data gathering can enable the firm to gather key manufacturing information, enhance data precision, and diminish data gathering expenses (Lamb, 2013).
Production Machine
The majority of the manufacturing process … usually required to maintain massive amounts of paperwork, comprising of different aspects such as resumes, job roles, responsibilities and descriptions, and also tax firms. Usually, these are also paperwork procedures that shift from one person to another. However, automation of these processes has generated major transformation (Boone, ……
References
References
Boone, L. E., Kurtz, D. L., & Khan, M. H. (2009). Contemporary business. Hoboken: John Wiley & Sons.
Chui, M., George, K., Manyika, J., Miremadi, M. (September 2017). Human + machine: A new era of automation in manufacturing. McKinsey & Company.
Deng, W., Luo, Q. (2012). Advanced Technology for Manufacturing Systems and Industry. New York: Pearson.
Groover, M. P. (2007). Fundamentals of modern manufacturing: materials processes, and systems. John Wiley & Sons.
HR Cloud. (2020). HR Automation - The Future of Human Resource Process Management. Retrieved from: https://kissflow.com/hr-process/
Joshi, V., Adhikari, M. S., Patel, R., Singh, R., Gehlot, A. (2018). Industrial Automation: Learn the current and leading-edge research on SCADA Automation. New Delhi: Pearson.
Krar, S. F., & Gill, A. (2003). Exploring advanced manufacturing technologies. Industrial Press, Inc.
Ladet, P., & Vernadat, F. (Eds.). (2013). Integrated manufacturing systems engineering. Springer.
Study Document
Walt Disney
… understanding of the people there and what they want. In France, for instance, the people wanted wine at their Disney Park and the firm compromised to satisfy. That is the kind of approach that is needed, but there is also the fact that not every Disney product ……
References
References
Wheelen, T. L., Hunger, J. D., Hoffman, A. N., & Bamford, C. E. (2010). Strategic management and business policy. Upper Saddle River, NJ: Prentice Hall.
Study Document
Warehouse And Material Handling
… all the way through manufacturing, warehousing, distribution, end0user consumption and ultimately disposal. The main objective of material handling system and processes within a firm are to enhance customer service, decrease inventory levels, curtail the delivery time and also lower general handling costs within manufacturing, distributing and transporting … warehouse for Electrical Appliances for distribution both within Singapore and overseas.
Description on the type of warehouse proposed
Making decisions on whether a firm should purchase its own warehouse or partake in leasing is a pivotal financial consideration and have to bear in mind the effect of … facilitate increased control, flexibility, cost, as well as other imperceptible advantages. Imperatively, private warehouses provide additional control owing to the reason that the firm has complete decision-making power over all activities and primacies within the facility. Owing to this level of control, the company will have the … to this level of control,……
References
References
Adler, D. (Ed.). (2007). Metric handbook. Routledge.
Alberto, P. (2000). The logistics of industrial location decisions: An application of the analytic hierarchy process methodology. International Journal of Logistics, 3(3), 273-289.
Bhatnagar, A. (2010). Textbook of supply chain management. New Delhi: Sanbun Publishers.
Buurman, J. (2002). Supply chain logistics management. New York: McGraw-Hill.
Heizer, J., & Render, B. (2006). Additional Problems: Principles of Operations Management/Operations Management. Prentice Hall.
Interlake. (2019). Warehouse layout design. Retrieved from: https://www.interlakemecalux.com/warehouse-manual/warehouse-design/warehouse-layout
Mulcahy, D. E., & Sydow, J. (2008). A supply chain logistics program for warehouse management. Auerbach Publications.
Radaev, A., & Leventsov, V. (2018). THE METHODOLOGY FOR SUBSTANTIATING THE MATERIALS HANDLING EQUIPMENT OF A UNIT LOAD WAREHOUSING SYSTEM. International Journal for Quality Research, 12(4).
Study Document
Keller Williams Realty
… Issue to Resolve
The company selected for this study is a Keller Williams Realty in Ft. Mitchell, KY. The international real estate brokerage firm was founded in 1983 by Gary Keller and Joe Williams is headquartered in Austin, TX, and has served the communities all over the … through their IGNITE and BOLD programs (Larcker & Tayan, 2015). KW Ft. Mitchell is known for its customer service which has allowed the firm to remain competitive with larger brokerages like HUFF in the area, as home buyers know they are getting agents who will work hard … rate of turnover among agents, and that is a problem for the franchisee who is refusing to build a new building for the firm until it can consistently maintain 100 agents at the office for at least a year. While the firm does provide IGNITE training to every new sales rep that comes……
References
References
Chang, S. C., & Lee, M. S. (2007). A study on relationship among leadership, organizational culture, the operation of learning organization and employees' job satisfaction. The learning organization, 14(2), 155-185.
Gerhart, B., & Fang, M. (2015). Pay, intrinsic motivation, extrinsic motivation, performance, and creativity in the workplace: Revisiting long-held beliefs. Annual Review of Organizational Psychology and Organizational Behavior, 2, 489-521
Larcker, D. & Tayan, B. (2015). How important is culture? An inside look at Keller Williams Realty. Rock Center for Corporate Governance at Stanford University Closer Look Series: Topics, Issues and Controversies in Corporate Governance No. CGRP-48. Social Science Research Network.
Meyer, C. B., & Stensaker, I. G. (2006). Developing capacity for change. Journal of Change Management, 6(2), 217–231.
Orpen, C. (1997). The effects of formal mentoring on employee work motivation, organizational commitment and job performance. The Learning Organization, 4(2), 53-60.
Study Document
McCain Foods Strategies
...Firm Strategies of McCain Foods
There are several marketing and distribution strategies employed by McCain Foods in order to keep themselves up with the market. Marketing strategies are the core strategies that define how the product and service reaches to the customers. McCain foods comes under the highly competitive Food and Beverages Industry for which an effective marketing mix is employed making the company successful and one of the leading company in its domain (Essays, 2018). The 4ps of the market; price, promotion, place and product, are the most effective tools to ensure the brand loyalty and customer retention. Marketing mix ensures overall effectiveness of the company’s strategies as they are the building blocks of marketing strategy
First and foremost, McCain Food’s unique competency is ‘Calories in/ Calories out’ (how-mccain-responds-to-changes-in-the-external-environment, 2019) concept which awares the consumers of the products’ healthy attributes. This makes the product highly suitable for its target audience……
References
References
(2019, September 17). Business Case Studies. Retrieved from https://businesscasestudies.co.uk/how-mccain-responds-to-changes-in-the-external-environment/#axzz2m8hClVBn
SLEPT Analysis of McCain Foods. (2015, April 03). PDF Slide. Retrieved from https://pdfslide.net/documents/slept-analysis-of-mccain-foods.html
Williamson, D. (2018, December 05). McCain Foods SWOT Analysis. Eassy 48. Retrieved from https://www.essay48.com/term-paper/13961-McCain-Foods-Swot-Analysis
Study Document
Agency Theory
… to remain with the company for a minimal period of time and therefore are solely concerned with the short term sustenance of the firm. Subsequent to their departure, they lack any sort of interest.
In order to deal with the event of such an agency problem, the ……
References
References
Ballwieser, W., Bamberg, G., Beckmann, M. J., Bester, H., Blickle, M., Ewert, R., ... & Gaynor, M. (2012). Agency theory, information, and incentives. Springer Science & Business Media.
Bou?ková, M. (2015). Management accounting and agency theory. Procedia Economics and Finance, 25, 5-13.
Eisenhardt, K. M. (1989). Agency theory: An assessment and review. Academy of management review, 14(1), 57-74.
Healy, P. M. (2005). Financial Reporting Problems at Molex, Inc.(A). Harvard Business School.
Larcker, D. F., & Tayan, B. (2007). Executive Compensation at Nabors Industries: Too Much, Too Little, or Just Right?. Rock Center for Corporate Governance at Stanford University Case Teaching No. CG-05.
Mitnick, B. M. (2015). Agency theory. Wiley encyclopedia of management, 1-6.
Scott, W. R., & O\\\\\\'Brien, P. C. (2003). Financial accounting theory (Vol. 3). Toronto: Prentice Hall.
Tearney, M. G., & Dodd, J. (2009). Accounting theory. H. I. Wolk (Ed.). New York: Sage.
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