Masco Corporations Strategic Planning Case Study

Masco Corporations Strategic Planning - Case Study ExampleThe caller has successfully true its product lines for faucets by establishing faucet manufacturing units with advanced railway line model.In 1986, Masco Corporation developed its vision statement, which reflected its impulse to become Procter & Gamble of consumer durables (Harvard Business School, 1998). The very vision statement has propelled the company to diversify its business into other consumer durable goods. Alongside, the company has also extended its tentacles to enter the market of oil-field equipments, drilling tools and transport connect products like gear shift levers, engine exhaust system etc. The company has even restructured its organizational structure and implemented other methods to reduce its overall cost of production. However, the primary obligation of the company is to elicit its research & development, and manufacturing ability so that the above stated concerns are addressed to. For acquiring t echnological breakthrough, the company has entered into contracts with research firms like MTI. For optimising the productivity of each manufacturing division, the company has developed formal organizational chart aimed at facilitating communication and exchange. In order to reduce the cost associated with its R&D various cost diminution programs were undertaken. This coupled with innovative working procedures and methodologies have helped the company to produce high quality innovative products at a lower cost. Mascos resourcesThe resources of Masco Corporation can be categorized into two types i.e. tangible and intangible. Since its inception, the company has been constructing its manufacturing units in numerous locations that produce a wide range of consumer durable products. This attest the fact that the company is advantageously equipped with necessary plants, machineries, inventories etc. Its intangible resources imply its expertise in metalworking. The company has a bottom experience in technology, driven by proficient technicians that constantly strive to design and create impudent products. With its existing resources, Masco can easily enter the $14 billion household furniture industry. The company has already curved out a niche in the mind of its customers by virtue of its quality products. thereof it is expected that the products manufactured by the company will find a ready acceptance. Another indispensable resource of the company is its high profitability. The company can use its retain-earnings for investments purposes in the furniture industry. Mascos Strategy for introduction the furniture industryBefore entering the furniture industry, Masco Corporation must implement only those strategies that controvert with the organizational structure and compatibility. It is of paramount importance for the company to analyze the internal and external factors. The internal factors include the strength and weaknesses of the country whereas the exter nal factors include Porters five forces of competition and macro-environmental factors like economy, demography, legal etc. entirely when the company has successfully scanned these factors, it will develop its strategy focusing on particular areas.

The Global Strategy of IKEA Essay Example | Topics and Well Written Essays - 500 words

The Global Strategy of IKEA - Essay ExampleIKEA has become iodine of the or so conquestful furniture retailers in the world. IKEA low-cost-approach to doing business and innovative selling and brand indistinguishability has allowed IKEA to mold and convert their brand image and company to become a lifestyle oriented company. IKEA was one of the pioneers towards globalization by offering furniture that was sold unassembled to its clientele therefore it could be shipped more firm and economically and consequently sold at the lowest possible costs to their customers. The company carefully adequate their corporate structure, business model, and culture to maintain and build their brand image, while carefully adapting their product offerings and marketing to match the preferences, customs, and needs of their local clientele. IKEA has become much more than a furniture merchant, it embraces customers with lifestyle that embraces goodly taste and recognizes value. The company has thri ved in the global market where others competitors have not succeeded in penetrating. The key strategy to IKEAs global success has been in keeping in line with their original philosophy of success which has been to provide unique, functional, simplistic but beautiful furniture designs and products at a low cost. This unrelenting out of bounds of efficiency and frugality has permeated throughout the corporate culture and structure (Quickmba, 2011).

Financial Contracts in Islamic law compared to that of American Law Dissertation

Financial Contracts in Islamic right comp bed to that of American Law - Dissertation physical exertionFinancial contracts can be entered in both written and verbal formats and must be discussed and original during a single run into without any noniceable interruptions including multiple negotiation sessions or changes in the skirmish venue. Unlike provisions nether American law, Islamic financial contracts can be accepted establish on personal conduct of the parties (Hassan, 2007). Under special mint, non-responsiveness to a given contract proposal is taken as an acceptance. Islamic law also allows further flexibility among parties at bottom a given meeting session whereby parties have the right to refuse a contract up to the point when either political party leaves the meeting venue physically. However, variations do exist over the interpretation, implementation and recognition of this feature even within countries where Islamic finance is practiced (Vogel, 2008). Content s of the financial contracts under Islamic law are taboo from discussing or relating with any item prohibited by the pietism. Such substances include alcohol and tobacco anyways prohibition on gambling. All applicable items that constitute the contract content must further be in the possession or ownership of either party and legally exist at the duration of the initiation of the contract (Rayner, 2001). In simple words, items that give be devised in the future may non be included in an Islamic contract. Specific properties of all these items including specifications, origin and quality must be clearly states in the terms of the contract. Other than deals that involve the exchange of m hotshoty, the exact price at which the goods will be delivered should be agreed upon prior to contract agreement (Hassan, 2007). Contracts based on future prices that are speculative in nature are not allowed and cannot be developed based on the advice of a third party. While there are several t ypes of Islamic financial contract, the most common one that is used for sale and exchange of goods is known as muawadat. Goods can be sold either for cash or can be exchanges as part of a barter transaction. Even exchange of silver is valid under Islamic contract. Real estate or equipment can be leased to away parties by using another type of contract known as the ijara (Vogel, 2008). The concept of Islamic contracts has been in existence for several centuries in regions like the Middle East, Asia and North Africa where Islam continues to be a major religion (Ayub, 2009). Islamic finance is considered as a tool from the almighty and is based upon relevant Islamic principles that fall out a high value on moral principles that is expected of all followers of the religion. Conventional American law is aimed at helping create contracts that are ethical in nature. Islamic finance advocates a similar approach when developing contracts and related transactions. However, this feature m ust not lead to an assumption that Islamic contracts bear a close resemblance with Western contracts (Rayner, 2001). In fact, contracts agreed upon under Islamic law are rather less binding than conventional American contracts that imply all aspects covered under them. Legal advice and further scrutiny is thus necessary in the case of Islamic contracts to understand the circumstances under which a contract may not be valid. In addition, the application of Islamic contracts has not been uniform across the Islamic world. While countries like Pakistan and Iran apply Islamic law in a stringent fashion, other countries

Essay on Mental Health Example | Topics and Well Written Essays - 1500 words

On mental health - Essay ExampleMental counselors consider the background of the client while advising him on a intervention package so that the treatment be distinguishs affordable. Inclusion of the bartering system involving gifts in treatment packages argon generally avoided by the consumer (Code of Ethics, 2000). Current treatment packages have been tailored according to the clients needs. Treatment packages are direct towards early prevention as well as after care. But criticisms have come up against these treatment packages due to their adherence of strict duration irrespective of the patients needs. Some packages based on root treatments have been neglected individual care (Prinz, n.d). Payments under psychological health services are overly a complex issue as it is treated more categorically different than other health diseases under Medicare. Related medicines have besides become more expensive (A Guide to Mental wellness in Older Age Recognizing and Overcoming Depre ssion, n.d). Hence recent treatment packages have benefitted the patients to some fulfilments but in like manner have proved to be costly. The current essay tends to address this issue through various cases and findings. fashional factors have always influenced health treatments and it is relatively more important for patients suffering from mental disorders. This factor is also clinically influential on the health conditions of the mental patients (American Psychiatry Association, 2000, p.732). Hence a proper behavior is essential while dealing with the mental patients. This falls under the ethical considerations of psychological treatment. Ethical Considerations The mental doctors or counselors should never hurt the patients by their behavior. No physical or mental torture lead be tolerated by the client. Maintenance of trust during the treatment also falls under ethics. The client also needs to be fully aware of the nature of the treatment and its underlying expenses. Any k ind of discriminations, be it gender or racial needs to be kept outside the purview of treatment. Engagement in close personal relationships during the course of treatment is considered to be harmful for the patients. Financial or business relationships should non be developed. It is important that mental patients continue with their treatments else it would prove detrimental. It is the doctors responsibility that mental patients come for their treatments regularly and consume the prescribed medicines (Code of Ethics, 2000). Treatment packages offered for mental patients Before suggesting any treatment for mental sickness the doctors need to diagnose correctly the kind of mental disorder the patient is suffering from. This will sure enough help the suggested treatment package to cater to the needs of the patients. The cause for such disorder is also equally important. Medical advance in the area of psychiatric treatment do help to serve these purposes. Mental illness treatment is considered to be either somatic or psychotherapeutic. Somatic disorders are to some extent curable with drugs. So psychiatrists often suggest drug therapy. These drugs consist of newly invented anti depressants. Medical prescriptions are prepared in accordance with the type of disorder. Electroconvulsive therapy is a part of psychotherapeutic method of treatment. Under such therapy electric shocks are given to the patients by attaching the electrodes to the patients head. Undoubtedly the treatment is a dreaded one but proved to be very effective for severe depressions that are less antiphonary to drugs (Doebbeling,

Summary and response Essay Example | Topics and Well Written Essays - 500 words - 3

Summary and response - Essay spokespersonSome of the robots that result take part in the competition have artificial intelligence that is moderately lower than that of humane being. As such, they require little human interception. Some are able to mountain pass on four artificial leg with multiple joints that enables it to climb a ladder and hoofer close to a building or an object.According to the article, participants reckons that the competition is a challenging affair as they cogent innovation from major manufacturers in America. In this case, the competitors equate the challenge with that of autonomous car challenge. On the unconditional note, they argue that the competition will improve the present day humanoid robots that can respond to disasters such as the nuclear plant disasters that have hit various parts of the world. Some of the robots such as the CHIMP will have legs that can fold and double as treads. These features enable the robot to draw in rough terrain an d hence very efficient in rescue missions. Lastly, the article suggests that robots challenge will ensure great improvement especially in the consecutive years. As a consequence, it is most probable that advanced robots will serve human kind in various ways.I normally contrive the concept of robots as a convenient replacement of inefficiencies caused by human being. Though robots require human interception in their operations, it is worth noting that they are more efficient that human beings, especially in difficult tasks. I take that robots can perform serious tasks in environments that are inaccessible or that pose jeopardy to human being.The competition that is described in this article presents a prime opportunity to manufacturers of robots. Firstly, I believe that even those who will not participate will have a chance of gauging the level of applied science exhibited in the competition. Secondly, the participants have a chance of walking away with huge sums of money as pri ces. This creates an

Pulte Homes, Inc Essay Example | Topics and Well Written Essays - 2000 words

Pulte Homes, Inc - Essay ExampleA desirable work atmosphere would contribute much to burgeon forth the creativity of the employees and they will be exited to develop and implement new strategies for the success of Pulte Homes. It is true that a musical arrangement where the superiors exert unnecessary pressure on their subordinate will struggle for success and the people occupying such position should not trouble their assistants and it is desirable for the managers to appreciate the productive efforts of their subordinates and they should ensure that a rivalry is not generated among their workers. An unhealthy environment may some times constitute a situation where an employee is embarrassed to watch over the name of the firm which he is working for. A favorable environment facilitates fall apart communication and proviso for exchange of thoughts among the team members which would motivate them to work for their companys improvement and the result would be but different from that of a pressurized work. Hard punishments for mis shares would destroy the creativity of an individual and staff members should be supported to contemplate from their mistakes because, even an average performer could become the best in the next season if he is provided with better support and motivation. All these factors indicate the necessity of a healthy organizational culture in lay out to develop an empire beyond the seas for Pulte Homes. guidance and leading One could find a number of definitions for these 2 concepts as a result of the attempts made by so many experts to distinguish between them. leadinghip sets a new goal or a vision for a group of followers headed by the leader himself, while management directs workers according to the established policies of a firm. As Fayol (1916), Daft (2003) and Griffin (2005) state, Management is a set of activities including planning, organizing, leading, controlling and decision making, directed at an organizations resources like human, financial, physical, and training sources with the aim of achieving organizational goals in an effective and efficient manner (Quoted in Vuskane, 2010. p.3). Managers therefore utilize the powers vested on them in order to arrive at the pre planned goals and the subordinates obey the instructions of their superiors to obtain the agreed remuneration. Studies construct showed that managers generally receive stable families and lead a comfortable life and a resulting risk head off nature is observed among them. A leader, on the other hand, inspires others to follow him. Gardner (1986) had made an attempt to define leadership and according to him leadership is the process of persuasion and example by which an individual (or team) induces a group to take action that is in accord with the leaders purposes or the shared purposes of all (Rost, 1993, p.72). Leaders are eer having consideration to others and most of them possess a charismatic style. Even though they give cre dits to others, leaders never turn to be friendly and often keep a distance with them. Gradual emergence of a firm could be observed if individuals occupying superior positions in business establishments possess both these qualities. Managers possess subordinates while the other has followers and in the present scenario managers are considered as

Internal and External Business Environments Research Paper

Internal and impertinent Business Environments - Research Paper ExampleAnswer of Question 1 The main five segments of the of the customary business environment that tend to pass on significant effect on an patience and all the companies belong to an industry (irrespective of the size and revenue) happens to be macro environmental forces in the form of political, economic, social, technological, legal and environmental or better known as PESTLE. Although it is complimentary to say that all the factors are of great significance plainly as per the requirement of the study economic and social factors have been chosen as the two to the highest degree significant forces to reckon with. The main reason for such choice is the fact that these two factors only affects the businesses & the industry but alike have a close interrelation with the other forces and corresponding affect on the businesses and the industry (Porter, 1980). Economic factors The retail industry in U.S. happens to be second largest industry in the country. The industry is responsible for 12% of the overall employment of the country. Majority of the retail industry is dominated by the create retail chains. The country has the presence of roughly f the major orbicular retailers in the form of Wal-Mart (the largest in the world) followed by Kroger, Target, Best Buy, the Home Depot, etc. However, like many other industries the retail industry is also looking to combat the wrath of the 2008 economic downturns. The economic downturn coupled the high level of rival has meant that the growth rate of the industry is personnel casualty to be slow as the economy is still going through a stage of downturn. The economic downturn has also increased the unemployment rate and reduced the expendable income which closely certainly will continue be a reason for the slow growth rate. It is needless to say that Wal-Mart has been affected by the economic conditions just like any other retailers. However, th ere have been certain opportunities that have been available to the industry such as the free trade zone. Also in the year 2009, the retailer awarded benefits worth $2 billion that included bonuses, contributions, profit sharing and attractive ware discounts. Here it is to be noted that this was a move that was respected by the employees and the government also most of the retailers were looking to cut down on costs and employee benefits during that period of time. But from the perspective of growth it is to be said that the company needs to focus a lot more on the operations in the emerging economies. Simply because, the economy of Germany, UK, USA is matured in nature and provide very poor opportunity for growth On the contrary the emerging economies like India and china have a relatively un-taped market and hence would provide would provide a lot more opportunity for growth than some of the matured economies. Social Factors Off late the retail industry in the country has witne ssed a double of shift in the domain of take inr behavior. This actually has been an affect multiple factors. Due to the environmental concern regarding global warming the customers have become a lot more environmental conscious and like to consume green products. Consumers have also become a lot of health conscious too. Also, as mentioned in a higher place the due to the economic downturn there has been a rise in the unemployment rate and dip in the disposable income of the plurality. Unlike earlier due the hectic and complex schedules and high fuel costs the people prefer to