Four Framework Approach to Richard Branson

Four Framework Approach to Richard Branson Introduction Leadership was once about hard skills such as planning, finance and business analysis. When command and control ruled the corporate world, the leaders were heroic rationalists who moved people around like pawns and fought like stags. When they spoke, the company employees jumped. The entire career system in some organizations is based on using hard functional skills to progress. But when executives reach the top of the organization, many different skills are required. Corporate leaders may find that although they can do the financial analysis and the strategic planning, they are poor at communicating ideas to employees or colleagues, or have little insight into how to motivate people. The modern CEO requires an array of skills. Some suggest that people expect too much of leaders. Indeed, renaissance men and women are rare. Leadership in a modern organization is highly complex and it is increasingly difficult. It is sometimes impossible for finding all the necessary traits in a single person. Among the most crucial skills is the ability to capture audiences. Richard Branson, the funder of Virgin Group and Virgin Atlantic Airline could be one of best leader in the industry. Biography According to Virgin group website, Richard Branson was born in July 18, 1950 in Surrey, England. He is the son of a lawyer and an airline stewardess. He was educated at the exclusive Stowe School, but did not excel, possibly due to his nearsightedness and dyslexia. In his teens he developed a national magazine, Student at the Age of Sixteen. At seventeen he began a student advisory service. After leaving school, Branson entered the music industry. Considering that he could sell records cheaper than the existing average, he started a mail-order catalogue with friends. It was a success, and they opened a record discount shop. They named the business Virgin, because it was their first venture. Virgin Airlines is one of Bransons main businesses. Formed in 1984, it is part owned by Singapore Airlines, and it is the second largest British long haul international airline, and has won many awards. During the 1990s the fleet and the air route network expanded and a Premium Economy service was introduced. In 2003 Virgin Atlantic launched the innovative Upper Class Suite with a flat bed and seat, and in 2006 the Virgin Clubhouse opened at Heathrow with a spa, brasserie, cocktail bar, hair salon and games room. Branson is also well known for his personal adventures by Virgin Atlantic Flyer. In 2010, and less than 40 years after the original conception of the Branson Virgin businesses, Branson boasted over 200 Virgin Megastores worldwide. All told, Branson employed 24,000 employees in 150 companies, with revenues totaling an estimated five billion dollars each year from the entire Virgin Group including the music stores and airline. The Virgin empire was is the largest privately owned business in England (Virgin Atlantic Airways, 2010). Bolman and Deals Four Framework Approach to Richard Branson Leadership models can also help us to understand a leaders organizational influence. Bolman and Deal, in Four Framework Approach, suggest that leaders display behaviors in one of four frameworks: Structural, Human Resource, Political, or Symbolic. Each requires a specific organizational setting to be successful. The Structural Framework From the rational perspective, organizations are instruments designed to achieve specified goals. Organizations are purposeful in the sense that the activities and interactions of participants are centrally coordinated to achieve common objectives; behaviors in organizations are rational in the sense that roles and role relations are prescribed independently of the personal attributes of the individuals in the structure (Richard, 1992). In the rational domain, organizations are driven by strategies, and the role of management is to align strategies and structure with the external environment. Strategy development includes two kinds of approaches mainly. The first one is prescriptive approach which is the firm defined the objective and/or the main elements before brainstorm the strategy; vice versa, another one is have no clear objective and/or elements, all the strategy will be developing during the process, which call emergent approach. Finally, what people and task performed base on above approaches that will generate the strategic change by formal or informal organizational structure from the managers, because of environment, business relationship, technology, people, life cycle, political power, etc (Tichy, 1983). The importance of strategic change is that may occur considerable disruption, but this practice is also useful to analysis the specific causes for planning the best direction on Bransons management change. Bransons Corporate Level Strategy Diversification: The core business of Virgin Group is travel, but since early 1990, it has begun to involve in many other different businesses, such businesses are no directly or substantial relationships between each other. Such businesses include mass media, entertainment, beverage, finance, weight industries and more, all these small business units (SBUs) enriched the Virgins portfolio. Brand Extension: Branson built its red brand to represent value for money, quality, fun, innovation, success and trust. This idea is developed and applied on its whole range of businesses. Joint-Venture: In the flight service, each airline have to get the permission for access paths by during with local governments, this process is very complicated and consume a lot of resources in terms of human, money and time. Joint-venture is the method that can be easy to get this permission, also could be easy to meet the economic of scale to reduce cost, and share or lower the risk. Bransons SBUs Level Strategy Differentiation: Branson provides the offer which other firms no. The very common example is, Virgin Atlantics souvenirs are always different and united. Another one example is Virgin Atlantic keeps its safety record is zero accident, to increase the confidence to its passengers, or customers though its air ticket is expensive then others in generally. The Human Resource Framework Although people are intentionally rational, not all human behavior is the result of rationality. People do not leave their emotions and feelings at home when they come to work in the morning, and noneconomic objectives are pursued alongside economic objectives (Powell, 1999). In the human domain, the central issue is how to integrate human needs with organizational rationality. Virgin Group considers peoples as the important assets, so it pays attention on peoples motivation, culture and even the individual desires to manage and maintain peoples work well and comfortable. Branson also thinks staff first, then customers and shareholders, therefore the chairperson, staff, customers and shareholders could be considered as the key stakeholders. Chairperson Shareholders: Branson is as a leader in Virgin which has used the corporate brand name across its entire product, the whole Virgin Group is influenced by him, and he is the greater single asset in the group (Ensor Drummond, 2001). Meanwhile, Branson is one of the shareholder of Virgin Group companies, so as same as other shareholder, his values will be added into the group and will be implemented in running the business. Bransons values are innocence, innovation, quality, fun and irreverence of authority, all of such values could be found in his choices of new ventures. Investor: The investors mainly focus on the profit and the return of investment (ROI). This issue makes the conflict between investor and customers, because customers want to have better services that will increase the cost and decrease the maximization level of the profit Staff: The skills, knowledge and suggestions of the staff are important to the company, Branson also understand this point so that he wants his best people will stay in his company for venturing (Grant, 2003). Example: Julie Bower, Virgin Atlantic Project Manager, response to source alternative customer relations management (CRM) software, then experienced partially customized system with Virgin Atlantics own data. Finally, Saratoga System has been chosen as the provider of CRM system (Thomson Corporation Company, 2005). This example shows the valuable staff will affect the strategic development. Customers: The best products or services are always seeking by customer, in order words, firms are required to provide best product or service for maintaining current customers and exploring new customers. Companies that survive profitably in a competitive environment must be providing value for money (Johnson et al, 2005). Therefore, customers also influence the strategies of the company. Our first time with Virgin Atlantic, and out last! Chaotic queue at LHR took three hours to reach check in desk. The cabin crews were arrogant and more interested in putting on more make up than serving passengers. Virgin relies on their reputation from the eighties, but they have lost it big time. Want to travel and enjoy the experience avoid Virgin at all costs (Skytrax, 2008). This example not only explains how customers influence the strategy development, also explains to provide the certain products to customer can reduce the probability of finical loss. The Political Framework From the political perspective, organizations are coalitions of diverse individuals and groups with enduring differences in values and preferences. They are governed not by a single center, as is assumed in the rational perspective, but by a dominant coalition of interest groups. As such, organizations often operate with unresolved conflicts in goals (March Shapiro, 1992). From the human domain perspective, malfunctions arise from structural misalignment or from personal deficiency; while from the political perspective, divergent interests and resource scarcity inevitably turn organizations political. Government: The core business of Virgin Group is transport service, and this business is highly regulated by the government. In the result, government policy is very import to the Branson and company as well, like policy on safety, route, franchise etc. These factors are about the change in government or government policy. The airline industry in UK has been privatized already, this action is initiated by UK Government. Branson got the opportunity to run the airline services from this political change to be a franchisee. Branson entered the markets or industries that have large, well established competitors, for instance, David is one of his favorite roles who against Goliaths, it is the example that the corporate against a big business. Now, the airline industry is run by two parts, Virgin Atlantic and British airways, provide flight and airline services respectively. Moreover, British Airways is the main competitor for Virgin Atlantic that leaded Virgin Atlantic always played the underdog role in competing with British Airways. Though Virgin Atlantic and British Airways had been role as underdog and bully respectively, in 1992, Virgin Atlantic had been success to claim one and half million dollars from British Airways (Aker, 2005 Grant, 2003). The Symbolic Framework Symbolism plays a critical role in human experience. In the rational domain, the point of life is choice. However, organizational life is only partly concerned with making decisions (March Shapiro 1992). Decision making is often an arena for symbolic actions. Many events and processes are more important for what is expressed than for what is produced (Bolman Deal, 2008). The leaders use symbols to capture attention; they try to frame experience by providing plausible interpretations of experiences; they discover and communicate a vision. Innovation: Branson understands the new matters could attack the new customers and maintain the current customers, but its competitors also understand this simple theory. Therefore Virgin Atlantic based on the existed offers with new concepts or packages as a new products or services to get the competitive advantage in the industry. These factors are about the application of new inventors or ideas. The technology in air applies to the development of safe airplane, or reliable engine. Virgin Atlantic is the pioneer in this area, Branson introduced the Rolls-Royce Trent 700 engines to power its new Airbus fleet of 10 A330-300s has triggered a big switch from polution to green eco-friendly travel on the route. The Trent 700 is the first engine in the highly successful Trent family. The 72,000lb thrust engine has lower maintenance costs, lower weight and better performance retention. With the lowest lifecycle fuel burn, lowest cumulative emissions and lowest noise levels the Trent 700 has the lowest environmental impact of any engine on the A330 (TravelDailyNews, 2009). Branson reduces the time taken for long distance travel and efficiency in helping to customers. Except the improvement on speed, Branson also increased number of channels for passenger to buy tickets by web and machine. The software was designed to link customer details, flight information and limo service details together and provides Virgin Atlantic staff with accurate information and tools to efficiently and effectively manage the Upper Class Wing operation (Journalism UK, 2008). Virgin Atlantic has got the opportunity to operate the UK and World air service by the government policy. The inflection perhaps people will be willing to expand more on the travelling. The change of working place also affects the demand on all the modes of transport. The new channels have been developed through the web and new machine system. The market still has space to operate obviously, but the most important consideration of a transport services provider is safety. So the most strength of Branson and Virgin Atlantic has been improving its reputation especially in safety and on-time to get confidence of passengers. Comparison of Richard Bransons corporate strategy decision In the stage of setting up the strategies, Branson definitely understand the strategies of which are the ways in which strategy develops in organization. Bransons Virgin Atlantic Airline Strategic Development Command View and Culture View are highlighted by Virgin Atlantic The culture view is that it occurs as the outcome of the taken-for-granted assumptions and behaviors in organizations. (Johnson et al, 2005) Branson founded Virgin Atlantic in 1984; in fact, Virgin Atlantics success highly depends on the founders principles to provide the highest quality innovative service at excellent value for money for all classes of air travelers. This principle created and established the culture of Virgin Atlantic, because all Virgin companies also maintain an entrepreneurial culture based on Bransons principle. There are four strategic developments have been found out and will be further described in following: Strategy One: Differentiation Branson also has another philosophy in his principle which is to be a pioneer rather then a follower of the leader. In order to reach this point, Virgin Atlantic must offer highest quality innovative service for its air travelers. Its innovative actions include: 1986, the 1st airline provided sleeper seats in upper class 1990, the 1st airline brought in the automatic defibrillators, trained the staff to help in-flight cardiac arrest victims The 1st airline installed individual TVs to all classes of passenger on the wide-bodied aircraft 2005, won the RFID Breakthrough Integration Award since it is as a leader in RFID 2005 Virgin Atlantic applied RFID tag on the important parts that used in aircraft maintenance and repairs at Heathrow Airport warehouse, UK. The technological advancement is always the advantage taking for Virgin and the customers, said by Mark Butler, System Implementation Manager, Engineering Department, Virgin Atlantic (Tata Consultancy Services Limited, 2007). Strategy Two: Jointing Alliance Virgin Atlantic has jointed an alliance with many airlines until 2006 that providing better choice on where and when for its customers flights, the member of that alliance includes Singapore Airline, Bmi British Midland, Continental Airline, South African Airways, US Airways, Virgin Blue and Air China. All above airlines also signed Codeshare Agreement, so the connections between partners services become closer, customers could enjoy better service and value, such as checking customers and their luggage over to their final destination and synchronizing their schedules with Virgin Atlantics partners. Turn out the customers of Virgin Atlantic could enjoy the shortest possible connections between their services (Virgin Atlantic Airways, 2010). The crises of 11th September, 2001 that affected the worldwide economy, Virgin Atlantic also got heavy losses in financial aspect. The alliance strategy was significantly assisted the recovery, because it reduced the investment and the accompanying inflexibility and risk during the uncertainties of operating in other countries (Aaker, 2005). Strategy Three: Partnership In 1999, Singapore Airline acquired 49% Virgin Atlantic stake that can reinforce to provide the highest quality innovative service at excellent value for money for all classes of air travellers. Singapore Airline is a unique global partner, this is a perfect collaboration since both two airlines have an incomparable reputation for quality and innovation, and have own numerous awards from the travel industry. According to the terms of the dealing, both two airlines routes will not overlap each other and are uniquely complementary, also they keep independent managements, and the rights to develop their own products. This partnership action generated greater benefits to both companies passengers, such as fare, access to lounges world-wide and an increasingly seamless travel experience across their airlines network (Virgin Atlantic Airways, 2010). Japan Airline Strategic Development In terms of strategic management, the major contrast between Virgin Atlantic and Japan Airline is, Japan Airline is the one managed by traditional state-run or government hierarchy, so its companies strategy was established by country leader and the board, as same as or followed by the strategy of government, often the goal or the result is extremely unrealistic to the commercial. The gap occurs in between the top management board and the tactical managers which more strengthen the difficulties in implementation and lessen the competitiveness in international airline market. Moreover, Virgin Atlantic emphasizes on command view and culture view; in this session, Japan Airline emphasizes on planning view to develop its strategies. In the planning view, strategic planning is to use a formal planning system for the development and implementation of the strategies related to mission and objectives of the organization. (Lynch, 2000) Japan Airlines Background Japan Airline is a joint-venture company which was founded by one governmental company and two private companies, Japan Airline Company, Philippine Airlines and Northwest Airlines in 1951. Japanese Government bought the share from Northwest Airlines that leaded to Japan Airline totally transfer to Japanese Government. Nowadays, all decisions are made by the Board of Directors and their strategic development is mainly focused on strategic planning (Fundinguniverse, 2010). Japan Airlines Planning Procedure One of the Japan Airlines department, Corporate Planning Information Technology Services is established in Japan Airline for responsible to suggest strategies for Japan Airline. After the seminar in 1987, this department suggested five corporate strategies for planning strategies and implementation, one of the strategies is about operational. The Board of Directors and the management group suggest that it (the operational strategy) is now a matter of urgency that Japan Airline must speed up the development of the airlines state enterprise plan in compliance with the policy and guidelines., Minister Shintaro Ishihara, Tokyo Conference, Nov 6, 1987. Then, Minister Ishihara grouped Japan Airlines problems for Japan Airlines management group to take actions (Sanchanta Takahashi,2010). Although this company is now privatized, but used to be country-owned and running by Government long time, the country leaders provide comments and policies on commercial-based company. This manner had been intervened the flexibility of Japan Airline. In 2006, Japan Airlines Chairperson, Haruka Nishimatsu established three committees, Strategic Steering Committee, Project Management Committee and Task Force Committee to increase competitiveness and the value of shareholder (Sanchanta Takahashi,2010). Today, Japan Airline failed to be effectively competing with other airlines because of such time-consuming and not really flexible to implement in Japan Airlines planning. Conclusion Leaders establish goals, assumptions, policies, strategies, and accepted norms of behavior. They usually recruit and promote managers who conform to their own values and expectations. While a leaders influence is evident in all organizations, it will apply more to small, highly centralized firms, or young, owner run businesses, and can increase with tenure. In the addition, the most relevant contrasts between Virgin Atlantic and Japan Airline are: Virgin Atlantic emphasizes on culture and command view because of following the principle that provided by Branson that it is controlled by the company. Japan Airline emphasizes on planning view which is controlled by Government so almost every strategies development is produced follow the planning procedure to lead the company more systematic. In theory it should not only focus on single view, but these two companies are only focused one or two views, that led some limitations in Virgin Atlantic and Japan Airline. For Virgin Atlantic, it is highly depends on the principles of Branson, he almost becomes the only one and unique person that can decide the future of Virgin Atlantic, includes stay in the market or shut down the business. Another side, for Japan Airline, it involves more procedures for making decision that could be enhances and smoothen the running for a company. As mentioned, there is only Branson is the key person for Virgin Atlantic or the whole Virgin Group, for the future, Virgin Group is suggested to established a number of rules or methods to maintain and investigate the current saturation of its businesses or the new ventures. After that, Branson is the most key person that affects all the things in Virgin Group, then is the staff, last is the customers. Last but not least, whether success to run a business depends on the policy, economy, society and technology in the place where located or plan to locate the business. In the result, the leader should aware all Structural, Human Resource, Political, and Symbolic framework in mind for coping the political, social, economic and technology factors positively. So, the finial suggestion is Richard Branson have to establish a committee to share and continue his great work.

Jackie Robinson Essay -- essays research papers

The Great One   Ã‚  Ã‚  Ã‚  Ã‚  “ He struck a mighty blow for equality, freedom and the American way of life. Jackie Robinson was a good citizen, a great man, and the true American champion.'; Ronald Reagon. I don’t know if anyone could have summarized his life better. Jackie was a great influence to the American public. To over came diversity and succeed is a great accomplishment.   Ã‚  Ã‚  Ã‚  Ã‚  Jackie Roosevelt Robinson was born in Cairo, Georgia, January 31 1919. He went to college at the University of UCLA. Where he was a star in four sports basketball, baseball, football, and track. He is the only bruin to letter in four sports. After college he went to pursue a career in the Army. He soon became a lieutenant. He was put on honorable d...

David Jones SWOT Essay

David Jones Ltd (DJS), one of Australia’s oldest and most recognised department stores was founded in Sydney in 1838 and is a retailer of diversified products ranging from clothes to daily home products. This report’s purpose is to provide the David Jones’ Board and Senior Management advice through the assessment of SWOT, resources, capabilities and strategies with a Balanced Scorecard and Strategy Map as the measurement of the strategies. Part A-1: David Jones Strategic Analysis – SWOT STRENGTHS †¢ Brand Name, Product and Brand Portfolio DJS was the first department store in Australia and its black-on-white hounds tooth was judged one of the Australia’s top ten favourite trademarks in 20061. DJS maintains a wide variety of products and brands ranging from fashion to electrical goods with a portfolio of over 1000 brands covering international and local labels as well as its own internal DJS and DJS Plus brand names. †¢ Services Portfolio David Jones offers both in store and financial services to cater for customers. In store services include personal shopping, style advisors, beauty and free health screening services. Financial services provided include David Jones Platinum AMEX, Qantas Frequent Flyers points and the DJS Store card. Corporate services provided include DJ gift cards. †¢ Store Portfolio Operates 35 stores and two warehouse outlets in metropolitan locations nationally. The four premium Sydney and Melbourne CBD retail properties are owned outright with 85,000 sqm of retail space plus existing leased properties and the opening of new village format stores in areas with appropriate demographics with no major shopping centre. †¢ Capability for Fund Raising Even with challenging retail conditions, DJS’ balance sheet exhibits strong fundamentals exhibited by solid cash flows, low debt to equity and debt to asset ratios in FY11 and FY12. WEAKNESSES †¢ High Brand Switching – Low Brand Loyalty DJS is primarily a mid to high-end luxury brand. With the multitude of product and service options available for consumers from direct and indirect competitors and the current economic environment, David Jones target market is now seeking out bargains when it comes spending. †¢ Limited Global Penetration With the globalisation of retailing, DJS faces formidable competition in an attempt to increase its penetration in domestic and international markets as confirmed in the IbisWorld Report, â€Å"the globalisation of this industry is low but the trend is increasing†. †¢ Weak Profitability Indicators Volatility in the global equity markets, financial uncertainty in Europe and the US and weak domestic consumer sentiment impacted on DJS’ financial performance leading to a decline in all profitability ratios in 2012 as compared to FY112. †¢ Narrow Target Market David Jones focuses on the premium market and with a key external driver of retail sales being real disposable income, DJS’ market primarily comprises of the â€Å"baby boomers† with high disposable income, who under the current economic climate have reduced their spending dramatically. (IbisWorld 2012 p.15) OPPORTUNITIES †¢ Growth prospects: E-Retail With developments in technology and an increasing number of people utilising either computer or smartphone platforms, the trend towards online shopping is increasingly popular market both for its high efficiency and convenience with massive potential still to be explored in Australia. Statistics show 12% of sales earnings are derived from e-retail in UK compared to 4.9% in Australia. †¢ Business transformation With the rise of E-commerce, consumers have more options than ever before. To seize the opportunity and become a more enhanced profitable unit is to be vigilante across channels thereby giving customers many options for purchasing products, which involve providing the personalisation of physical stores, online options for convenience and engagement through social media. †¢ Brand expansion Globalization brings in more brands and more competition from other countries. Instead of being a competitor, DJS sees this as an opportunity of a ‘win-win’ situation by cooperating with more international suppliers evidenced by the introduction of 300 new brands over the past 26 months. †¢ Business expansion The physical store is an â€Å"experiential centre† where customers are able to interact with the brand and although e-retail provides choice, convenience and access, face to face customer service still reigns supreme (business insider article) the physical store plays an important role in the retail industry allowing consumers to touch, feel and take a product home fast. By increasing physical presence, and improving systems and processes, companies will be able to enhance the customer experience. THREATS †¢ Customer income and preference influence Real household disposable income has reflected a downward trend from 2009 to 2013 and household saving did not decrease during 2012, which reduced the level of cash flow meaning store sales will be affected by a decreased level of income remaining for shopping after spending on daily necessities. In addition to this, switching costs remain low for customer changing their preferences because of the diversity of options like Myer, K-Mart or the brand retailer like ZARA and Gucci. †¢ Counterfeit goods market As globalisation brings in new and various products, counterfeit goods also spread quickly. This has a negative influence on local retailers and trademark owners by taking away part of their local market share, taking advantage of the designs of a brand’s products as well as the millions of jobs lost, lost tax revenue and additional welfare spending as a result of counterfeit products. †¢ Competitive environment There are an increasing number of overseas and online competitors entering the Australia market. In addition, a strong Australia currency and online business exploration is also seen as a threat to retailers for it has a  deflationary impact on domestic sales4. †¢ Growing employment and wages – rising cost of doing business in general IbisWorld has stated that the capital to wage cost is expected to be 1:6.590 in 2013. Although industry research indicates employment and wages reducing in 2013, David Jones is increasing sales staff working hours and introducing hundreds of new positions in a bid to improve customer service and engagement. Part A-2 From our analysis on the external environment we have understood that in recent years the Australian department store industry has been characterised by increasing competition due to the presence of online competitors and overseas specialists, like Zara and Top Shop. Moreover, adverse macro-economic conditions further decrease the potential profitability of the industry. In fact after the GFC, a deteriorated â€Å"consumer sentiment index† and a reduced real household disposable income together with a strong Australian dollar increase the level of rivalry significantly. In this kind of environment, we strongly believe that DJS must rely on two fundamental capabilities: first class customer engagement and customer service and Brand Positioning. These two capabilities are mainly based on a common group of resources in addition to some specific resources that are tabled in Appendix X in detail. Upon analysis of the internal environment of DJS, the key factors for the success of the firm are: †¢ The property portfolio, which includes a basket of extremely well located and high-end profile buildings in all the major cities in Australia. These stores are unique and highly desirable assets for a premium retailer, are highly costly to imitate and difficult to substitute for potential premium competitors since they are a highly scarce resource. †¢ DJ’s is a particularly well-capitalised company with significant borrowing capacity as demonstrated by a gearing ratio of 13%, interest coverage ratio of 14.5x (FY12) and excess cash held allowing the company to continue investing in the development of its strategy. †¢ The brand portfolio; with over 1000 brands DJS can meet the expectations of its customers and ensure the preservation of its premium brand leadership as â€Å"home of brands† †¢ The employees and management culture; DJS has and continues to invest in training and development programs to ensure that the â€Å"face† and the â€Å"leaders† of the company are strongly oriented to customer retention and satisfaction. In assessing whether the two capabilities  mentioned above constitute a core competency for DJS, we have reached the following conclusion: 1) Ability to develop and maintain first class customer engagement and customer service Criteria Assessment Valuable Yes A high level of customer service is a key element for the success of the David Jones’ differentiation strategy. Rare Yes In the department store competitive arena only Myer have achieved a similar level of customer service. Non-substitutable Yes On-line based competitors can circumnavigate some key resources of this capability such as premium store locations and well-trained employees through an efficient on-line web store, however the physical experience of shopping in the store cannot be replaced. Costly-to-Imitate No First class customer service is extremely difficult to imitate and would require any potential competitor to heavily invest in training and services, although as Myer (Roy Morgan Awards in 2012) has shown this capability can be replicated in the long run. According to our vision, DJS has a temporary competitive advantage from its first class customer engagement and service since, at the status quo only Myer has a similar capability. However, it is of primary importance that DJS keep improving, for instance through an impeccable implementation of its OCR strategy in order to further improve the quality of its customer service so as to avoid new entrants reaching the same level of service. 2) Brand Positioning: ability to maintain premium leadership status in the department store market as the â€Å"Home of Brands† Criteria Assessment Valuable Yes This capability helps DJS to justify its premium price and to increase customer loyalty. Rare Yes The premium brand of DJS is a unique capability; no ones in the actual competitive environment can rely on a similar core competency. Non-substitutable Yes There is no strategic substitute for this capability; the DJS brand is one of the most iconic brands in Australia. Costly-to-Imitate Yes Developing a brand identity comparable to DJS is not one that can be achieved easily by competitors due to the massive investment required and the unique historical conditions that have contributed to form it. DJS has a Sustainable Competitive Advantage from its brand and in our opinion, the firm should heavily leverage on it to successfully implement its future strategy. PART A3 – Stakeholder Analysis Stakeholder group Specific interest Assessment of Shareholder value alignment 1. Employees Employees in David Jones as same as other employees who are interested in premium payout, promotion, training and recognition from employers. Fair company policies e.g. safety workplace and effective company communication and structure are additional requirement staff are looking – Employee reward to encourage employee to flow in their idea to the business e.g. Innovation Workshop – Training provided to retain staff: executive leadership program, Future leaders program, Operations Online Compliance Training – Incentive program in different level of management that align with shareholder value, e.g. New Frontline Incentive Incentive program only represents part of employees’ salary which means employees’ interest is not fully aligned with shareholders. 2. Customers Customers in David Jones prefer exclusiveness. The products they purchase from DJS won’t be able to find outside the store. That also applies to  shopping experiences which they are serviced in professional and friendly environment that cannot be experienced in other shops. Customers expect DJS can provide the best brand with premium quality and reasonable price. Only added value products can be found in DJS Customers are common to look for better price with top quality and service however shareholders expect DJS to be more profitable with generous dividend, especially DJS have maintained GP in these few years. It is a fact that both parties’ interests are contradicted. Ultimately customer satisfaction draws higher sales and margin. Mainly happy and loyal customers can maintain the profits in long term which shareholders can receive benefit 3. Suppliers They want to maintain good relationship with David Jones and make long term contract to get good margin for their business. Because of the reputation of DJ, suppliers want to achieve their brand recognition in the market. Suppliers’ value do not align with DJ’s shareholders’ value, they desire to maximize their margin but the cost of goods increase which lower shareholders dividend. But considering the brand recognition and reputation, both shareholders and suppliers want to capture market shares. They have to obtain a balance between their interests. 4. Community The community expects DJ concerns more about corporate social responsibility such as social wellbeing and environment sustainability such as producing environmental annual report and reducing greenhouse gas emissions. DJS outlines a list of environmentally sustainable managements to eliminate greenhouse gases, wastes and promote energy saving. DJS give charity leave to employees to support the National Breast Cancer Foundation and monetary support other charities. Community is not fully satisfied as DJS only concern a small portion of the society. Every group of stakeholders’ value has certain degree of alignment with shareholders but none of them is fully in lined. DJ relatively put more effort to appreciate employees who are the key personnel to draw the sales. However, the unbalance of stakeholders’ investment will disappoint the others and DJS should be careful to avoid any relationship damage. Part A-4: David Jones Generic Business Level Strategy In a highly concentrated and competitive retail environment, David Jones  pursues a Differentiation Strategy. It has historically targeted the 30 to 54 year old high income woman and the strategic factors relevant to her and is now seeking to expand this market to include the younger generation with medium to high disposable income. David Jones is known as a â€Å"quality† store and to achieve this, it focuses on providing a combination of exclusive product ranges, a high standard of customer service, image and store presentation and location. This is directly evidenced by optimisation of the David Jones private label and the introduction of over 300 new brands over the past 26 months. Additionally, further investment in customer service and engagement via increased frontline staff hours and in-store events as well as its continued focus on its personal shopping service and the introduction of style advisors offers their target shopper the complete shopping experience. PART B Transformation Suitability According to pro-rata population, the number of online customers in Australia ranks the third, but the sales generated from e-channel are far lower than other countries (IBIS-pp33). Although there is increasing competition in online business, retailers need online channels to expand business and take advantage of e-commerce to serve both national and international customers (IBIS-PP4). Feasibility In 2012, David Jones invested more than A$11 million in Technology CAPEX (AR12) and allocated a 200 person team in collaboration with IBM to successfully implement its â€Å"technological† revolution. High bargaining power with suppliers and very strong brand identity can greatly assist in the Price Harmonisation Process. Overall, David Jones has the necessary borrowing capacity and management skills to properly implement its turnaround strategy. Consistency DJS strategic point of â€Å"Transforming the Business† is not entirely consistent with its generic business level strategy but aims to provide a solid structural retail platform upon which its supplemental strategic points of â€Å"strengthening the core business† and â€Å"growing the store network† can  flourish as signified by price harmonisation which allows DJS to be competitive on price but not a â€Å"discounter†. Shareholders Value Implication This is risky to conclude that Omni channel is profitable when other competitors have already got a well developed system several years ago. The cost to maintain and develop this channel will take a couple of years to recover and reduce profit margin in the short term. Better customer engagement via mobile or internet and price reduction through price harmonization will attract more customers to shop at DJS over competitors, with potential to offset the expenses and eventually increase profit margin in long term. Strengthening the core business Suitability After the global financial crisis, expected profit margin decline to 3.9% in 2012-2013’s department industry with scaling back of disposable income, cost reduction becomes a key factor for keeping GP margin (IBIS pp19). Keeping high margin categories helps to increase GP margin. Brand portfolio is also important for mitigating competition from the effect of globalization. However, even though DJS has a better inventory management system, cutting time for clearance events may still cause excess inventories, which may incur inventory costs. Overall, this strategy is suitable in the current environment. Feasibility In 2012 David Jones added 85 new brands into its â€Å"Home of Brand† model. DJS can leverage on its brand positioning and on its knowledgeable merchandising team to develop its brand portfolio. DJS has the financial resources to fully complete the store refurbishment program. This together with the change in product mix (Fashion&Beauty/Home) should guarantee a higher GP margin. The reduction of the CODB is based on the management team’s capabilities and on the new investment in technology that have allowed a more efficient way of conducting business. Consistency â€Å"Strengthening the Core Business† is directly related to DJS generic strategy  of differentiation through its focus on â€Å"Offering the best National and International Brands† and the high value refurbishments it is undertaking. By continuing to invest in and expand its brand portfolio as well as the image and presentation of its stores and the provision of accompanying services, DJS provides an experience not offered by any other department store in Australia. Shareholders Value Implication In the short time, expanding labels and store refurbishment will lower DJS margin. In long term, the aim for David Jones is to minimize COBD and strengthen GP generation which improves operational profit and ultimately increases dividend to shareholders. B2 – Key Stakeholder Implications Impact on this stakeholder group Proposal to better align stakeholder interests with shareholder value 1. Employees Positive: open challenge and opportunity. It is risky but it will be profitable if success Negative: senior management was forced to leave DJS due to internal restructure happened in 2012.Time to adapt new systems and management. High risk to fail the negotiation with supplier to harmonise the cost. 2. Customers Positive: better shopping experience (store refurbishments). Open another channel to shop (Internet/mobile); welcome lower price; better customer service ; more brands to shop   Ã¢â‚¬â€œ Increase customer retention and loyalty (more exclusive brands) – profitable customers which drive higher profit and give out more dividend. – Lower price encourage to choose DJ over competitors and potentially improve margin – Store refurbishment attracts more customers to come and visit. 3. Suppliers Negative: Cost of good is entitled to price harmonization agreement. Profit is minimised. Increase competition between suppliers when DJS introduce more labels to sell. – Increase brand awareness and market share to offset the margin loss due to price harmonisation. Shareholder is also benefit if sales are promoted by lowering the price. 4. Community Positive: Mobile apps and website will facilitate the communication with the community and provide more business opportunities to benefit the society. Introducing more products of choice to society and encouraging employment rate. Negative: refurbishment and new stores increase greenhouse gas emission and wastes. ​The new strategies have both positive and negative impact on stakeholders. The above analysis gives us a picture that customer is clear winner and supplier is loser in these new strategies. DJS has a lot of works to do in order to create the links of interest between all stakeholders and shareholders. Suppliers’ benefit will be captured in long term if DJS can achieve the goals of these strategies and increase sustainable sales.

Physics is Everywhere Essay - 1852 Words

Physics is Everywhere Physics is like math; it is always being used everywhere, whether we are conscious of it or not. With the use and knowledge of physics, one can take into account that knowledge to help them perform a deed more successfully and efficient. Although skydiving and weight lifting aren’t the only activities that involve physics, I feel that they are some of the most interesting and benefit seeking activities. Without the knowledge of physics, skydiving wouldn’t be as safe as it is today and weight lifters wouldn’t be able to lift five times their weight. The history of the physics of skydiving and weight lifting has been affected by implications socially and economically. Over the years, these activities have been†¦show more content†¦The lower economic status individual is probably not capable of purchasing or even renting a parachute that has the â€Å"best of the best† features, while the person who is of high economic status can purchase and us e the best model on the market. As I observed the downfalls and risks of skydiving, I thought to myself, what could I attribute to the skydiving experience? I think that a feasible way to reduce risks of skydiving would be to have an emergency device that automatically brings you down safely to earth. This could be a design where another parachute expands automatically when near a certain distance from the ground or a tank that exploits gas to relay the skydiver safely to the surface. Although skydiving isn’t the most dangerous extreme sport, possibilities of death and serious injury are still applicable. As physicists extend their knowledge on skydiving, the future of the sport will be greatly affected. 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