Marketing and Operations Functions
Name
Institution
Introduction
Various organizations have different functions that interrelate to enhance productivity and performance (Bell, 2013). These functions are integrated to give the organizations a competitive advantage and emerge stronger in their domains. These functions include marketing, operations, finance and human resource functions. The interaction between these functions enables organizations and firms to work towards achieving the fundamental goals of the organization. The failure of each of the functions to achieve its mandate may lead to the ultimate failure of the organization (Walker & Mullin, 2011). In this regard, the different functions of an organization are dependent
…show more content…
The support process involves the coordination of members and employees to achieve the overall goal of the company. The commitment of this company towards a productive workforce is the rationale behind its growth. From a strategic viewpoint, a robust and efficient workforce is instrumental in turning the economic prospects of the company through hard work and commitment towards the fulfillment of the company’s vision (Harbin, 2000). In this regard, support process that supports the value creation process is of great significance to the …show more content…
This means that marketing the company’s products in the international market can be harder. Thus, the company does not expect higher profit margins or revenues from foreign markets. This factor compounded with the fact the company’s competitors accept more benefits in the global stage ruin chances of Whole Foods Markets to show impressive profit margin. In order to drive the economies of scale, WFM has to expand its operations in the global markets. The biggest weaknesses of this company are its limited social networking (Harbin, 2000). While WFM has embraced online marketing that technology represents, it is yet to exploit fully the opportunities that are abound. The company has a weak social marketing system thus cannot compete favorably with its competitors. This also applies to the online customer engagement. WFM does not frequently engage its consumers on various internet platforms. These weaknesses in the marketing and operations functions put the company at risk of losing its fame and leadership to
My organization, Trader Joe’s, is not an international business. Their stores are all located in the United States; therefore, I chose Whole Foods, who is a main competitor of Trader Joe’s for this assignment.
Moving forward we believe that Trader Joe’s strategy is strong, but they need to adapt to the popularity of social media and technology in today’s society. First of all, Trader Joe’s needs to create a few social media pages. This will allow them to keep their customers up to on new products, locations, and if they are hiring. Trader Joe’s has an extremely loyal fan base; in fact, there are fan pages and blogs made by customers. Since customers are already being vocal about Trader Joe’s on social media, Trader Joe’s needs to become involved in vocalizing themselves. They can tell the customers what they want them to hear, instead of just the customer doing so. The benefit to this is
While the organic movement has increased the production and sale of organic food in the United States, something that should be noted is that the stock of Whole Foods Market, a grocery store is dedicated to the sale of organic food, has gone down 40% since October of 2013. Whole Foods Market’s success rates are slowly beginning to diminish and it may lose its dominance in the organic foods market (The Economist, 2014). While this may seem indicative of a decrease in public interest of organic food, it really indicates the opposite. After seeing the success of Whole Foods Market, new stores such as Trader Joe’s and Sprouts entered the organic market and became strong competition. The decline in Whole Foods Market’s success may be attributed
The first step towards the growth and completion of our marketing objectives would be to increase the awareness of Trader Joe’s by 15% on social media and also boost advertisement to the same degree, for the next two years. We may be able to do so by incorporating advertisements and exclusive deals only found on Trader Joe’s social media pages. Also advertise Trader Joe’s social media pages within different locations of the store so that all people, as well as the younger people whom fall within the target market, can now see it and will become more likely to check out Joe’s on social media which
In his book, The Tipping Point: How little things can make a big difference (2000), Malcolm Gladwell highlights the power of intelligent action and the potential of little changes for starting epidemics. Concepts such as the law of few, the stickiness factor, and the power of context arouse epidemics both in macro-level and in micro-level. In detail, the law of few affirms the influence on communication. Connectors, mavens, and salesmen each has abilities to conjoin, collect, and cajole; they distribute information globally. The stickiness factor refers to a technique, which emphasize and allow information to stick in the minds of consumers. Last, the power of context stresses that both individual’s reaction and community’s cohesion can lead to epidemic. Gladwell, intelligently, collects the secret keys to successful business. Through adequately use in three crucial concepts, Whole Foods Market has successfully tipped by building dreamer’s visions, capturing customer’s attention, and investing firm’s long-term future.
How well a business manages its assets and resources predicates its overall success. Companies that spend financial resources foolishly are apt to find themselves in bankruptcy. Companies that work capital equipment resources beyond the machine’s capabilities or for other than intended purposes are apt to experience downtime and/or lose the equipment to failure. The same premise holds true for a company’s human assets. However, unlike other company assets, which depreciate over time, human assets appreciate over time when managed properly. The article, Importance of Human Resource Investment for Organizations and Economy: A critical Analysis, explains the importance of managing human assets as follows:
However you define the activities of management, and whatever the organisational processes are, an essential part of the process of management is that proper attention be given to the Human Resource function. The human element provides a major part in the overall success of the organisation. Therefore there must be an effective human resource function. In the past, most organisations viewed Human Resource Management (HRM) as an element function, that is an activity that is supportive of the task functions and does not normally have any accountability for the performance of a specific end task. Because of the emphasis on analysis and precision there is a tendency for strategists to concentrate on economic data and ignore the way in which human elements and values can influence the implementation of a strategy. 'Economic analysis of strategy fails to recognise the complex role which people play in the evolution of strategy - strategy is also a product of what people want an organisation to do or what they feel the organisation should be like.?(1).
Organizations can be evaluated in three levels; internal evaluation, external evaluation and the Evaluative Organization (Martz, 2013). Internal evaluation review and evaluate company operating procedures and then used to populate advanced statistical modeling and performance dashboards (Martz, 2013). This system is a self-assessment, with an emphasis on performance measurement; during this phase there can numerous sources with perhaps one of the best being the people of the company. When management has good communication paths with employees, they are more likely to give honest input to performance
According to our textbook Human Resource Management (HRM) is the policies, practices, and systems that influence employees’ behavior, attitudes, and performance. “The human resources management process involves planning for, attracting, developing, and retaining employees as the HRM planning provides the rights kinds of people, in the right quantity, with the right skills, at the right time (Lussier, 2012, p. 240).” According to our textbook the typical responsibilities of the Human Resources department fall into three categories, and they are administrative services and transaction, which handle hiring employees. The second involves business partner services that focus on attracting, evolving, retaining employees by having a clear understanding
Organizations can be configured in many different ways. Their overall classifications can be summarized by characteristics of complexity within the system, the level of formalization, and the centralization of decision-making power. The structure of each organization is influenced by many factors. Such factors include; the goods and services provided, the overall individuality of the staff providing the service and producing the products. The overall beliefs and values of the individuals performing the services that are being delivered, the technology that is utilized to help deliver the services and aid in product production, as well as the needs, desires, and generalized characteristics of the consumer population that requires or demand the product or service. (Yoder-Wise, 2007, p. 145) The organization will have different operating priorities based on its ownership. The main goal behind most business is to make money. The private owned institution strives to make its shareholders money, while a non-profit institution reinvests all of its revenue back into the orga...
Human Resources Management (HRM) have been increasing aware by Business Studies and Organisation Management approaches because it closely related to organisational daily and organisational performances (Kalleberg & Moody, 1994). Human resources practices are suggested have influences on improving organisational performances in most organisations. Basically, oorganisational performances refer to the outcomes of employees performances and daily working which reflect the ability of one organisation fulfil its objectives and goals, such as employee’s performances, productivities, employee’s job satisfaction, financial outcomes (Huselid, 1995).
Organizational success or failure is dependent on a myriad of variables that can be challenging to measure and interpret. Success or failure can simply be luck and timing or an orchestrated and deliberate effort. As new technologies allow organizations the ability to rapidly measure and assess its internal and external environmental factors, more efficient strategies can be quickly implemented. The focus of this literature review is specifically on one of these mentioned variables. The paper will detail the relationship that Human Resources (HR) practices have with an organization’s strategic goals and vision.
Human Resource management has a high impact on the overall organization being managed. HR management makes certain that human talent is used successfully and resourcefully to accomplish organizational goals. As an organization core competency, human resources has distinctive competencies that generates high value and sets apart an organization from competitors in areas such as productivity, quality and service, employee skills, and innovative changes. HR management activities can be grouped into categories which include strategic HR management; equal employment opportunity; staffing and talent management; compensation and benefits; and employee and industry relations. This paper will discuss some of these HR functions and the role Human Resources has at the company Zappos.com.
In every organization, different operational functions exist to ensure the smooth learning of the organization. In order for an individual to have the knowhow on how to operate the functions delegated to them they must have implicit knowledge on the functionalities themselves. Understanding markets, customers and the company goals has always proven to be a core starting point for individuals who ply their trade in the organization. The essence of the skills is evident in globalization, cooperate social responsibility and risk management issues. In operations management, the basic principles of operations should be followed to ensure that the profitability of the organization ensures the operation of the organization is
The lack of success at Omega, Inc. rested in the hands of an incompetent sales staff who were not informed of the company’s mission statement and goals. The staff received limited training on the jobs they were to perform. Omega was faced with the challenge of getting the employees to achieve their sales quotas. According to (Aguinis, 2007), “There are two important prerequisites required before a performance management system is implemented: knowledge of the organization’s mission and strategic goals and knowledge of the job in question.” The benefit of superior knowledge of the organization combined with clear and agreed upon mission and strategic goals of their unit would afford employees the opportunity to make contributions that will have a positive impact on the organization as a whole. In addition, one must possess the knowledge of the job in question to execute the tasks necessary to be done and how they should be done. This knowledge is obtained through a job analysis. Omega failed to implement strategic planning throughout all the franchises. According to Aguinis (2007), “Strategic planning allows an organizati...