E business is completely a web based and online tool which involves low costs in terms of manpower and other costs for advertising involved in setting up a business. The advantage of an individual setting up their own business with a simple concept to put themselves out there globaly all possible with the internet. It is very easy to find businesses and their products online. The consumers have all the information on the click of the button. however, it is very important for the business to maintain the website and ensure that it runs smoothly by periodically checking all the processes are running smoothly from selection of product to buying it and also returning policies and how refunds and other client related grieviences are handled to ensure loyalty in getting a good client base as it is a very impersonal tool in business. Awareness in
scams and frauds that often plague the web world should be given impotance so the security of the site is not tampered with. Ensuring a profitable e- business needs lot of monioring and patience to ensure in presenting itself to wide frame of customers who are online and looking for convenient ways to receive goods 24/7.
Saturday, June 18, 2011
The Cost of Turnover
The Cost of Employee Turnover: When the Devil is in the Details
By J. Bruce and Timothy R. Hinkin
The hospitality industry has a high volume of employee turnover which poses a huge factor in increasing cost in an organisation. Upon analysis, it was found that the degree of cost on turnover varies from large scale hotels to small scale ones. The higher cost is directly proportional to factors like complex job roles, independent properties, high rate occupancy hotels, properties in high cost of living areas, unemployment rates. The effects on cost taken to fill positions appropriately and time consumed to train according to job role also played a major role in increasing costs.
It was found that the cost taken to fill positions for lower level jobs were higher than hiring managerial staff. Staff turnover was high in lower positions in an organisation than compared to high position ones. In hospitality industry, turnover in employees showed a lack of consistency in the standard of service to customers due to inadequate time to train new staff resulting in a slight battle in generating revenues and profit. An organisation has to bear many costs related to hiring new staff and also in finding appropriate personnel for the job. Costs in advertising, training, cost involved in employee severance package, makes an impact in overall cost in an organisation. Various steps in the recruitment process from advertising to a position to finding the right person to training that individual increases cost and reduces productivity. It is very important to recruit personnel and make sure that they stay longer by making the job more lucrative will ensure maintaining good profit levels and will not end up in leaving and having the organisation to bear the cost.
Analysis determined that high level jobs needed more expenditure than low level jobs as they needed fewer qualifications to fill the position, also high end hotels had high cost due to advertising etc. To cut down on cost related to fill any position it was found that proper training ensured a low cost after the hiring process. The money lost due to low productivity played a huge role in the cost of turnover. But upon overall analysis – high end properties to low end properties, high to lower level positions, the report showed that more money was being spent in hiring for low level positions than high level positions as the applicants were higher for the latter. Also when compared for bigger volume hotels cost of hiring was lower than for smaller hotels. Also contrastingly, high end hotels spent more on hiring process than low end hotels.
In conclusion, retaining employees, finding personnel in appropriate places, proper training and time spent by superiors shows less cost of turnover. It is important to get the right people and make the job lucrative to descend the alarming rate of employee turnover. Organisations need to give eye to the necessary details in recruiting and retaining employees to avoid losses due to these factors in the future by offering better policies. By determining the root causes and working on them will definitely ensure that nine get affected by this.
Nitasha Sharma
Vandita Tripathi
Asma Iftikhar
Joseph
By J. Bruce and Timothy R. Hinkin
The hospitality industry has a high volume of employee turnover which poses a huge factor in increasing cost in an organisation. Upon analysis, it was found that the degree of cost on turnover varies from large scale hotels to small scale ones. The higher cost is directly proportional to factors like complex job roles, independent properties, high rate occupancy hotels, properties in high cost of living areas, unemployment rates. The effects on cost taken to fill positions appropriately and time consumed to train according to job role also played a major role in increasing costs.
It was found that the cost taken to fill positions for lower level jobs were higher than hiring managerial staff. Staff turnover was high in lower positions in an organisation than compared to high position ones. In hospitality industry, turnover in employees showed a lack of consistency in the standard of service to customers due to inadequate time to train new staff resulting in a slight battle in generating revenues and profit. An organisation has to bear many costs related to hiring new staff and also in finding appropriate personnel for the job. Costs in advertising, training, cost involved in employee severance package, makes an impact in overall cost in an organisation. Various steps in the recruitment process from advertising to a position to finding the right person to training that individual increases cost and reduces productivity. It is very important to recruit personnel and make sure that they stay longer by making the job more lucrative will ensure maintaining good profit levels and will not end up in leaving and having the organisation to bear the cost.
Analysis determined that high level jobs needed more expenditure than low level jobs as they needed fewer qualifications to fill the position, also high end hotels had high cost due to advertising etc. To cut down on cost related to fill any position it was found that proper training ensured a low cost after the hiring process. The money lost due to low productivity played a huge role in the cost of turnover. But upon overall analysis – high end properties to low end properties, high to lower level positions, the report showed that more money was being spent in hiring for low level positions than high level positions as the applicants were higher for the latter. Also when compared for bigger volume hotels cost of hiring was lower than for smaller hotels. Also contrastingly, high end hotels spent more on hiring process than low end hotels.
In conclusion, retaining employees, finding personnel in appropriate places, proper training and time spent by superiors shows less cost of turnover. It is important to get the right people and make the job lucrative to descend the alarming rate of employee turnover. Organisations need to give eye to the necessary details in recruiting and retaining employees to avoid losses due to these factors in the future by offering better policies. By determining the root causes and working on them will definitely ensure that nine get affected by this.
Nitasha Sharma
Vandita Tripathi
Asma Iftikhar
Joseph
Monday, May 16, 2011
Johnson & Johnson
Recognizing a firms intellectual assets
Johnson & Johnson
Attracting human capital: Small company with big company impact.
Implications: Their strategy to build human capital is to ensure in delivering the message that the company is people driven and even thought their company is employed with employees but they are given equal right as an individual to voice their opinions and take responsibility in all they do giving a sense of contribution.
Developing human capital: Inter department promotions and also hiring the right personnel. Implications: Working with what you got and also ensuring that individuals use the guidance of the company values gets the human capital thinking and doing things on the same page that is from high executives to the janitor per se. Going with the motto of delivering the best products to the people, by the people, for the people and ensuring all individuals know that they are a part of something big ensure their worth in being in the organisation.
Retaining human capital: Passion, collaboration and courage.
Implications: Having a belief in employees and seeing to it that all are rewarded for the efforts put in ensures in retaining human capital.
Johnson & Johnson company was founded in 1943. Robert Wood Johnson ll was one of the founding members of the company who also created the value system – Credo of the company which is still followed to date. The importance to human goodwill given to both internal people and the people being served is outstanding making it one of the most desired companies to be a part of. He says that business cannot be considered private as it is people driven. The company outlines the importance of working in collaboration with diverse cultures that strengthen their human resources, innovation and doing anything better than before techniques and delivering quality than quantity ensuring in being the most tusted company so far. Attention to people and their demand has made it one of the most sought after companies to be a part of in every way possible.
Johnson & Johnson
Attracting human capital: Small company with big company impact.
Implications: Their strategy to build human capital is to ensure in delivering the message that the company is people driven and even thought their company is employed with employees but they are given equal right as an individual to voice their opinions and take responsibility in all they do giving a sense of contribution.
Developing human capital: Inter department promotions and also hiring the right personnel. Implications: Working with what you got and also ensuring that individuals use the guidance of the company values gets the human capital thinking and doing things on the same page that is from high executives to the janitor per se. Going with the motto of delivering the best products to the people, by the people, for the people and ensuring all individuals know that they are a part of something big ensure their worth in being in the organisation.
Retaining human capital: Passion, collaboration and courage.
Implications: Having a belief in employees and seeing to it that all are rewarded for the efforts put in ensures in retaining human capital.
Johnson & Johnson company was founded in 1943. Robert Wood Johnson ll was one of the founding members of the company who also created the value system – Credo of the company which is still followed to date. The importance to human goodwill given to both internal people and the people being served is outstanding making it one of the most desired companies to be a part of. He says that business cannot be considered private as it is people driven. The company outlines the importance of working in collaboration with diverse cultures that strengthen their human resources, innovation and doing anything better than before techniques and delivering quality than quantity ensuring in being the most tusted company so far. Attention to people and their demand has made it one of the most sought after companies to be a part of in every way possible.
UBC grad, 19, launches second startup
Brian Wong, 19 year old wonder kid from UBC who has already geared up to launch his second company with 4million dollars to get it up and running. This company will specialize in giving online gamers real awards based on their level of achievements ranging from vitamin drinks to 100$ Sony tablet. The company Kiip was recently launched. He portrayed immense skills at a very young age and graduated early too. His company was well sought out after by celebrities and other brand corporate companies. He also had MC Hammer come visit him and his colleagues and via social network informed his fans of the new coming company. This company will reward various games played on their smart phone devices and other mobile devices according to their maximum achievements to give gamers a virtual; feel for their accomplishments rather than non virtual gifts so as to give satisfaction and spread the word via social network to enhance the gaming experience. Kiip is rewarding excelling in their games rather than promoting them. He has not mentioned which games are using these services but are going to experiment with first few weeks to see the effective result. Wong emphasizes a bigger picture to the motive behind his company being very clear in stating how important it is to reward an achievement as it unravels and guarantees maximum sense of satisfaction and captures full attention of an individual for a moment. They are planning to bring this to Canada as well.
Tuesday, April 26, 2011
Xerox Corporation Case
What went wrong?
Xerox Corporation’s Palo Research Centre has invented many technological breakthroughs such as mouse, the Macintosh computer, and the graphical user interface. Xerox didn’t necessarily benefits from these products because of the other rival companies and also the Xerox’s corrupted staff. Xerox’s problems started in the 1980’s when they lost their market of photocopiers to Canon. In this case, the company didn’t suffer from a shortage of the talent or technological innovations. Rather, it experienced problems with leveraging. Also, having the politics in the company was a downfall for the company as well. Thoman was trying his best to address and find the solution of these problems but sometimes whatever we wish for, we can’t have it.
Tuesday, January 25, 2011
Two Venture Ideas
A school uniform is one of the identities of the school. Many educators and sociology experts believe that students who wear school uniforms perform better academically in school. Students are often so focused on their wardrobe that it distracts them from learning. Students are also so distracted by looking and picking on each others clothes or the way others dress up. Many students feel that they are judged according to what they wear by other students, as well as by teachers and administrators. School uniforms remove these factors from the social environment within the school, thus relieving students from the pressure to fit in. It is also very affordable for many families. So I would like to open a uniform store that has clothes with a logo of David Thompson.
I would also like to bring the food that majority of David Thompson would like to eat such as Regular chips, Chocolates, Pops, Ice Creams. Why? Well here’s the thing, since David Thompson decided to go on healthy living plan, pretty much all the students are going out during break and lunch to get themselves snacks. In fact they are consuming double the amount of unhealthy food than before. DT itself is facing the downfall in making profits so why not just bring back the food that majority of students want and make profit as well.
Thursday, January 13, 2011
Sustainability
Sustainability is the capacity to endure. Sustainability interfaces with economics through the social and ecological consequences of economic activity. Sustainability economics involves ecological economics where social, cultural, health-related and monetary/financial aspects are integrated.
MAC Cosmetics has become one of the most popular makeup brands in the world today. They have the best products for different kinds of skin types. Since their launch in Canada in 1985, they have grown in leaps and bounds to become the iconic fashion label they are today. This has certainly been helped by the glowing praise they’ve received from a variety of celebrities, including Dita von Teese, Pamela Anderson, Debbie Harry, Alexander Mcqueen, Fergie, and many others. Mac Cosmetics has a wide range of products. Some of their flagship products include MAC Blush (including their MAC Barbie Blush range), MAC Lipstick, their legendary MAC Brushes, MAC eye liners and eye palettes, and for the hardcore fusionists and makeup artists, the raw MAC pigments are perennially popular.
MAC Cosmetics are also known for their social conscience. They have a number of programs to help the community. In particular, MAC is involved in Eco-friendly nature research. Their product line supports Eco friendly charities. This program has raised an impressive $100 million dollars, which shows that their commitment to this cause is more than just lip service. Their particular deal for this Eco-friendly program is if the customer returns the empty packs for at least any 6 products, any color of lipstick would be given as a reward. I think this is a very good way of attracting a customer and making profits.
It makes me shop from them even more now. It gives you reorganization and you become a member which ends up getting us a lot of different offers from them.
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