Classical Management Theories in Contemporary Management

Journal of Management and Marketing Research Infusing value: application of historical management concepts at a modern organization Andrew H. Clem Nova Southeastern University Bahaudin G. Mujtaba Nova Southeastern University Abstract History and the relative global marketplace have always proven to large organizations that there will continue to be wavering economic waters to navigate as well as deal with constant changes in the business environment. Today’s economy is no different, and management strategies are continually tested to withstand the slow return to prosperity. Science Applications International Corporation (SAIC) has historically been able to weather these environmental business factors through insightful management†¦show more content†¦In fact, employee ownership has been described as that it â€Å"carries with it a sense of responsibility, a concern for the long-term welfare of the organization, and better human relations†¦Ã¢â‚¬  (Pohlman Gardiner, 2000, p. 182) Jeff Gates, author of The Ownership Solution, places a strong argument on the positive side of employee ownership , almost placing a warning on companies that do not participate in this form Classical Management Theories of ownership. Mr. Gates states that â€Å"unless ownership in contemporary organizations is significantly broadened to include employees at every level in the organization (as opposed to ownership almost entirely by investors), corporations will become increasingly disconnected from the personal consciences of those who work inside them† (Pohlman Gardiner, p. 45). However, employee ownership is no cure-all for organizations either. Gates goes on to explain that there is not much that employee ownership can do for companies to â€Å"insulate [them] from competition, technological change, or shifting markets† (Pohlman Gardiner, p. 155). As SAIC continues forward, however, sustainability and longterm growth are still at the forefront of their management plans. Mr. Gates continues, suggesting that â€Å"companies embrace employee ownership as a component of their competitiveness strategy† (Pohlman Gardiner, p. 155). This, inShow MoreRelatedManagement Theory : Cla ssical And Contemporary Essay1655 Words   |  7 PagesManagement theory has been a topical issue in several organizational fields for centuries. Both classic and modern styles organizations have reinforced management principles to fulfil goals efficiently and effectively. From the industrial to post-industrial evolution of organizations, the emergence of several management theories and their components have been infused in business polices, protocols and regulations that transfer onto the organisation’s operations (Aldrich, 2008). Today’s literatureRead MoreDefine and Discuss the Different Theories of Management, Using Practical Examples from Your Experience or Knowledge. Compare Classical Management Theory to Any Contemporary.652 Words   |  3 PagesDefine and discuss the different theories of management, using practical examples from your experience or knowledge. Compare classical management theory to any contemporary. * * * Nowadays we have new implementing plans for management. The different theories of management are: classical, behavioral, quantitative and quality management theory, systematic and contingency management theory. The classical management theory focuses on finding the â€Å"one best way† to accomplish andRead MoreDefine and Discuss the Different Theories of Management, Using Practical Examples from Your Experience or Knowledge. Compare Classical Management Theory to Any Contemporary Management Theory.691 Words   |  3 Pagesdifferent theories of management are classical management theory, behavioral management theory, quantitative management theory, systems management theory, contingency management theory, and quality management theory. The classical management theory focuses on finding the one best way to perform and manage task. The behavioral management theory recognizes employees as individuals with concrete human needs, as parts of work groups, and members of a larger society. The quantitative management theory usesRead MoreClassical Managment1274 Words   |  6 Pagesï » ¿PART A Historical Foundations of management have been around for years and were first introduced by Fayol around the turn of the century . This essay will discuss three main points and questions around management, the first question will cover how modern management practices have evolved from the â€Å"classical approaches to management†. The second question will cover the challenges contemporary managers face in 2013 compared to managers in the era of the classical approaches and the third questionRead MoreManagement Foundations Essay1635 Words   |  7 PagesManagement Foundations Esay The classical management perspective represents the first well-developed framework of management (Davidson. P. et al, 2000). It’s the framework from which later theories evolved and concerns efficiency and productivity, which in turn leads to effective and efficient management. Scientific management and the Administrative theory are both classical management theories, which provide information on managing in the workplace, which are very useful and vital to have inRead MoreA Modern Day Management Approach1221 Words   |  5 Pagesapproach to management and leadership as a reaction to environmental changes, intensifying competition and availability of technology. Organizational theories are focused on forging a management style that will facilitate the achievement and growth of the company. Robert, a baby boomer, was inclined to working with others to train and make processes faster at the time that most businesses were focusing on mechanization as a means of achieving compet itive advantage. The organizational theory that RobertRead MoreClassical And Contingency Theories For Organizational Design1275 Words   |  6 PagesCritically Evaluate the Contributions and Limitations of Classical and Contingency Theories to Our Understanding of Contemporary Practices in the Area of Organizational Design  Table of Contents Introduction 3 Overview of Classical and Contingency Theories 3 Contributions of Classical and Contingency Theories 4 Limitations of Classical and Contingency Theories 5 Conclusion 6 References 7  Introduction Organisation is composed of individuals and groups who work together towards the accomplishmentRead MoreManaging Business Assignment992 Words   |  4 PagesLearning Outcomes You should be able to: Appreciate the different management theory and practice from the era of scientific management to contingency theory. Demonstrate knowledge of the underlying concepts and principles related to entrepreneurial and management activities. Deliverables This assignment represents 30% of the total INCOURSE marks for this module. The deliverables: A report of 1,000 words. You should state the number of wordsRead MoreManagement Administrative Theory1585 Words   |  7 Pages108: MANAGEMENT AND ORGANIZATION ASSIGNMENT 1 Mary Parker Follett has been described by Schermerhorn et al. as an Administrative Theorist within the Classical approach to management. However, others have seen her as ahead of her time, and have even described her as thoroughly modern . What were Mary Parker Follett s main contributions to management thought and practice; how do they relate to classical management theory and practice and how are they relevant to managers in contemporary organisationsRead MoreThe Classical Theories Of Motivation1393 Words   |  6 Pagesthe employees of an organization, reflects the contemporary concept of the employees in an organization as being the drivers of its success. the term resources denotes the consideration of employees as an asset to the company which needs to be efficiently utilized and motivated in order to reap benefits from its efforts. The greater focus on the organizational employees acted as the driver for the development of more humanistic approaches to management as well (Pirson Lawrence, 2009). Motivation

Human Resource Management - 982 Words

UNIVERSTY OF ZAMBIA DEPARTMENT : EXTENSION STUDIES COURSE : HRM 225/115 HUMAN RESOURCE MANAGEMENT ASSIGNMENT NUMBER : ONE QUESTION : Discuss the following approaches to human resource management. i. Mechanist approach ii. Paternalistic approach iii. Systems approach NAME : ELIAS CHIUTSI STUDENT NUMBER : 201220152 DUE DATE : 29TH NOVEMBER, 2012 LECTURE : MR. MANGOLWA The mechanistic approach to human resources management (HRM) focuses on the simplest way to structure work so that it can be done most quickly and effective. The particular work of each employee must be so†¦show more content†¦The system approach views an organization as a set of interrelated sub- system in which variables are mutually dependent. As system can b e perceived as having : some components ,factions and the process performed by these various components, relationships among the components that unequally bind them together into conceptual assembly, an organization principle that gives it purpose. The Organizing system has five basic parts, which are interdependent. They are: The individual, the formal and informal organization, partners behaviour arising out of role demands of the organization, the role perception of individuals and the physical environment in which individuals work. The relationship of the sub system within an organization is fundamental to the systems approach. The different components of organization have to operate in a coordinated manner to attain common organization goes. This results in synergic effect. Thus the output of a system with well integrated systems would be much more than the sum of the outputs of the independent sub- system working in isolation. The system approach provdes a total view of the organization. It enable s analysis of an organization n a scientific manner so that operating system can be developed and an appropriate Human resources information system (HRS) designed. By providing the requiredShow MoreRelatedHuman Resources Management : Human Resource Management1140 Words   |  5 Pagesa business efficiently? Human Resource Management (HRM). Human Resources is the solid foundation that practically oversees the entire organization, whether its managing employees to surveilling the progress of every single department. There are six principle functions that Human Resource take into account: employee relations, recruitment, compliance, compensation and benefits, training and development, and safety (policies/regulations). Over time Human Resource Management has taken a new role intoRead MoreHuman Resources Management And Human Resource Management2123 Words   |  9 PagesIntroduction The study of human resource management becomes a major topic of the science of management at the beginning of 20th century and keeps attracting researchers’ attention (Merkle, 1980). The new models of human resource management derive from the advance of management theories and the accumulation of practices and experiences. With the development of global economy, the economic situation of each country deeply affects the world and becomes closely connected. In addition, the needs of customersRead MoreHuman Resources Management : Human Resource Management1138 Words   |  5 PagesHuman Resources Management Hilti continues to grasp on success and expand globally, but their path weren’t always well defined. The company began in 1941 and historically they’ve kept to traditional strategies when it came to recognizing human resource requirements. In the early 2000’s, the company established a new set initiatives, aimed at doubling revenue and operating profits. Hilti also recognized that this type of growth would require invigorating ideas to employ human resourcing requirementsRead MoreHuman Resource Management And Human Resources Management941 Words   |  4 PagesHuman Resources Management is one of the most important aspects of any organization, whether it be non-profit, not for profit, or profit. Human Resources Management is what makes it possible for a manager to be able to focus on their work and tasks at hand and not have to deal with lots of unneeded interpersonal activities. They are in charge of correctly evaluating the candidates that the managers will have to work with for the duration of the candidate’s stay. They are responsible for makingRead MoreHuman Resources Management : Human Resource Management835 Words   |  4 PagesHuman Resource Management â€Å"They humanize the brand and help workforce communities thrive† (Who). A human resource management position may be the job for you. Every business and enterprise has a human resource manager, including Starbucks, Disney and even Apple. This job includes planning and coordination, organization, consulting employees and to oversee the work and employees. All the schooling and stress that comes along with this occupation pays off in the end with an enjoyable job. HumanRead MoreHuman Resources Management : Human Resource Management1398 Words   |  6 Pages Human Resource Management Overview Tanya Phillips Dr. Andrea Scott, PhD HSA 320, Strayer University October 31, 2016 Human Resources Management Overview Human resources (HR) is the different kinds of clinical and nonclinical responsibilities for public and individual health involvement. The benefits and performance the system can deliver depends upon the knowledge, skills and motivation of those responsible for providing health services. 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Well Human Resource Management is the overall process that deals with how Human Resources manages their employees as well as different issues that can come across within the organization. Human Resource Management are in charge of different tasks including recruiting asRead MoreHuman Resources Management : Human Resource Management820 Words   |  4 PagesHuman Resources Management Proper Planning is one of the most important aspects of human resource management. Without proper execution of plans, the particular needs of an organization that are the responsibility of human resources will not be reached, and therefore, will fall short of what is necessary for meeting the goals of an organization (DeCenzo, Robbins Verhulst 2013).There are many facets a human resource manager must be familiar with in order to run an organization. The functions of humanRead MoreHuman Resource Management : Human Resources Management1264 Words   |  6 Pagesand research with my family, I decided to go into human resource management, specifically in a hospital. Many people questioned and often said â€Å"Why human resource management?† My answer, I chose human resource managers because I believe they are a vital part of a hospitals success. They make the plans, they direct the staff and they coordinate how people work together and where they need to be. Throughout this paper , I will describe human resource managers- what they do, what are the requirements

Operation Management Boeing vs Airbus Free Sample

Question: Discuss about the Operation Management: Boeing vs. Airbus. Answer: Introduction to Boeing and Airbus Boeing The Boeing is one of the largest multinational corporations that help in designing, manufacturing, and selling airplanes, rockets and satellites. The organization is also providing product services facility to its customers. The company is the largest producer of aircrafts globally. Based on the revenue collected in the year 2013, it is known as the worlds second largest defence contractor and one of the largest exporters in the country United States. Dow Jones Industrial Average is one of the components for the stock of Boeing. The headquarters of Boeing is located in Chicago and the organization is led by the CEO Dennis Muilenburg and by the president. The five primary divisions of Boeings in which it is divided include: Boeing Capital, Boeing Shared Services Group and Boeing Commercial Airplanes. In the year 2015 the organization recorded sales of $96.11 billion and the company ranked 27th on a well-known magazine Fortune Magazine. Boeing 787 Dreamliner TheBoeing 787 Dreamlineris a long-range American jet airliner.The jet airliner is a long range and has wide size body. It provides seating facilities for 242 to 335 number travelers in a usual three seating configuration. It is one of the best fuel-efficient airliners and it is also known as pioneer airliner as it uses composite material as the primary material in order to construct the airframe. The 787 was implemented with the characteristic that it is more fuel-efficient than boring that was planned to change. The 787 dreamliner differentiates among the swept wingtips, electrical flight systems and noise-reducing chevrons. It shares different type of rating with the help of the larger Boeing 777. This is done in order to allow qualified pilots in order to operate both models. Airbus Airbus is one of the sections of the internationalAirbus Group SE which manufactures civil aircraft. It is situated inFrance and Blagnac a commune ofToulouse. It provides facility of manufacture and production in France, Spain, Germany, China, United Kingdom and the United States. The organization provides employment to 73,958. The company started as agroupProducers of Airbus Industry.In the year 1999 and 2000, a consolidation is made between the aerospace companies and European defence. The consolidation between the two allows implementation of Joint Stock Company in the year 2001. Aeronautic Defence and Space Company and BAE Systems owned the company.After a extended sales process, BAE sold its shares to EADS on 13 October 2006. Airbus provides employment to 73,000 people at different sixteen sites in countries like France, Spain,Germany,and theUnited Kingdom. Production of final assembly depends on Toulouse,Germany, France;Hamburg,Seville and Spain since the year 2009 as a joint between countries like Tianjin and China. Subsidiaries of Airbus in the countries United States, Japan and India are situated. The organization manufactures and sells the first commercially feasibledigitalfly-by-wireairliner, theAirbus A320,and the world's largest passenger airliner, theA380. Airbus 380 The airbus A380 is a jet airplane that is manufactured by one of the European Union Manufacturer Airbus. The Airbus A380 is the worlds largest passenger airliner. The airport has upgraded its facilities where the airbus operates. The facilities have been upgraded in order provide accommodation to the airbus. It was recently named as Airbus A3XX. The airbus was mainly designed for challenging the monopoly in the aircraft market. The first flight made by A30 was n 27 April in the year, 2005. The upper deck of the A380 lengthens along the length of the fuselage. The width is very much comparable to the body of the aircraft. This provides 550 square meters of utilizable floor. The space is 40% much than the leading airliner. The Boeing 747-8 gives facility for seating which is more than 500 people in a three-class arrangement. The design range includes 8500 nautical miles. It serves as the longest nonstop scheduled flight. On May 2016, the company received many firm orders. The organization delivered 190 aircrafts. The biggest customer of A30 was Emirates with 142 orders and 80 deliveries. Operations Management of Boeing and Airbus; Failure of Boeing 787 Dreamliner Operation Management of Boeing Boeing is one of the oldest aircraft manufacturing companies that is still providing a large number of aircrafts to airlines companies all over the world. Boeing mainly emphasizes on the customer satisfaction and comfort during the flight. After losing out majority of market share to Airbus, they brought in several changes in the overall aircraft designs (Bazargan et al. 2013). During this period, they did not back out from business or reduce costs of the aircrafts. Instead, they brought in the new changes. In addition to these, they also provided aircrafts to aerospace (spacecrafts), army and other defensive fields. Operations management of Boeing is divided in parts in order to reach goal specially for making their aircrafts. It is included on the major commercial aircraft for getting the right product mix, for implementing and formulating the right production system and market strategies (Wu 2016). Operation Management of Airbus Operation Management of Airbus is quite different from Boeing. Before starting business, Airbus conducted rigorous research to effectively incorporate latest scientific and engineering techniques within the aircraft models and adding emphasize to customer demands as well as business needs. They built their aircraft models with a customer friendly design, high efficiency engines, low production cost and finally high cost efficiency ratio. Moreover, they built aircrafts with maximum capacity of passengers among the other contemporary aircrafts (Ashwini et al. 2013). Their main target was enhancing business by keeping or improving quality of services. Following this policy, they gained much popularity in the 90s and eventually surpassed Boeing in terms of business and market share. Most of the major airlines all over the world opted Airbus over Boeing due to cost efficiency, better service and high passenger capacity. Airbuss operations management and marketing policy was an immediate s uccess. Difference in OM Aspects of Boeing and Airbus There are many differences between Boeing and Airbus with respect to the operations management aspect. Boeing emphasized on immediate customer satisfaction while Airbus emphasized on long term upgrades (De Neufville et al. 2013). Boeing upgraded the internal designs and restructured the overall aircrafts while failed to make technical upgrades of the aircrafts. As a result, the cost efficiency reduced harshly and customers started preferring other companies like Airbus, Lockheed Martin, etc (Bazargan 2016). On the other hand, Airbus focused on three aspects: Satisfy present customers, added future planning, upgrade the whole aircraft system, both internal and technical, and provide the best cost efficient aircraft with maximum passenger capacity. Due to the massive differences, Airbus easily got much ahead of Boeing in Aircraft business. Failure of Boeing 787 Dreamliner Boeing, after losing majority of its market share to its main competitor Airbus, took some steps in order to gain back the market share and compete with Airbus. Boeing had the option of reducing the costs of the planes in order to satisfy the existing customers. Instead, they focused on the bringing a complete revamp in their models. For this, they changed the basic design of the model emphasizing more on the passenger satisfaction and comfort (Hill and Hill 2012). They also started using other materials for building the body of the aircrafts. However, the problem lies in the fact they focused on their existing customers only and had no particular future vision. Moreover, use of composite materials increased efficiency and costs of running the aircrafts but caused many other technical problems and glitches that threatened to stop the services of the aircrafts (Anderson et al. 2015). This is precisely the reason, Boeing 787 Dreamliner Project failed to achieve the expected goal. Need of Changes in Boeings Operations Plan Boeings operations plan have a large number of flaws that must be addressed immediately in order to revive their business and gain back the market share they once used to enjoy. Their main issues related to operations plan are as follows: Poor Future Planning Boeing only emphasizes on the current satisfaction of the customers. They revamped the whole interiors and the basic design of the aircrafts for enhancing passenger experience (Christopher 2016). But these changes only solved the issues temporarily; they failed to bring changes as long term solutions. Futile Technical Upgrades Boeing brought upgrades to satisfy customers. However, their technical upgrades were futile. In the process of lowering production costs, they used ineffective materials that further reduced cost efficiency of the aircrafts (Ashford et al. 2013). For instance, the battery they used got overheated during flight and stopped working in some cases, leading to many serious and fatal accidents. The bodies of the aircrafts were also not strong enough to survive a major crash. Useless Marketing Policy Boeings marketing policy more or less got vague in the last few decades. Although they provide crafts to major fronts like aerospace, military, their business has decreased considerably over time (Francis 2016). On the other hand, Airbus surpassed them and managed to gain a huge share on the aircraft market. These are the main operational factors for which Boeing suffered a major setback in the aircraft market. These factors must be addressed in order to gain back the market share once enjoyed by the company. Boeing 787 Dreamliner Project: Present Operations and Future Planning In 2003, Boeing concentrated on making extra accommodation for its customers (aircrafts) and their voyagers by working up an inventive plane: the 787 Dreamliner. Regardless, Boeing's worth construction framework for the pioneers was to develop their travel skill by redesigning the plane and by offering important redesigns in solace (Schofield 2016). Case in point, concerning different bearers, more than half of the fundamental formation of the 787 transportation (numbering the fuselage and wing) would be implemented by the use of composite materials. Right when segregated from the standard material (aluminium) utilized as a touch of plane gathering, the composite material considers stretched out stickiness and weight to be kept up in the voyager lodge, offering liberal change to the flying establishment (Kleinaltenkamp et al. 2014). Correspondingly, the lightweight composite materials attract the Dreamliner to make entire course of move flights. Along these lines, the Dreamliner gran ts aircrafts to offer direct/non-stop flights between any pair of urban ranges immediately, which is favoured by most broad wayfarers. Secondly, Boeing's worth formation process for its key brief clients (the flying machines) and its end clients (the explorers) was to promote flight functioning adequacy by giving gigantic plane extents to sensible size planes while flying at generally the equal rate (Mach 0.85) (Liu et al. 2012). This profit would allow planes to offer calm non-stop flights to and from powerfully and littler urban zones. Likewise, a farthest point some spot around 210 and 330 explorers and a level of up to 8,500 marine miles, the 787 Dreamliner has proposed to use 20% a smaller amount of fuel for unclear duty than today's reasonably measured planes. The cost per-seat is dependent on to be 10 percent lesser than what is charged by the other transporter. In addition, not at all like the standard aluminium, fuselages, which tend to exhaust and rust the 787's fuselages, depend upon composite materials, which is the reduction planes' sponsorship and substitution costs. Other than deals, share markets reacted strongly at the time when Boeing dispatched its "redirection changing" 787 Dreamliner program in the year 2003. Some spot around the year 2003 and 2007, Boeing's stock cost stretched out from around $30 an offer to scarcely over $100 an offer (Evans 2015). In any case, Boeing reported a development of deferrals starting in late 2007 and the business part has responded oppositely. The negative business division reaction is really expected as reputation of Boeing's era framework issues have wound up being coherently clear. Airbus shared a comparative destiny subsequent to reporting a development of deferrals for the vehicle of its A380 in mid 2006 (Sun et al. 2015). Notwithstanding monstrous capital speculation and association exertion, Boeing is right now confronting consistent yields (for two years) in its schedule for the woman flight and plane development to clients as of this creation. After many endeavours to recoup its 787's composite fuse lage supplier back on track Boeing finally obtained Vought's South Carolina office to a burden of $1 billion on July 8, 2009 (Freiherr 2015). This event affected us to look at the focal purposes behind Boeing's inconveniences in dealing with its 787's vehicle course of action. The Boeing 787 Dreamliner Project should have the following targets of operations in the basic schedule. These are as follows: Increased Outsourcing - By outsourcing around 70% of the time and movement sharpens under the 787 endeavor, Boeing can abbreviate the change time by using suppliers' ability to make unmistakable parts. In like manner, Boeing may have the ability to decrease the advancement cost of the 787 by abusing sellers inclination. With in like manner outsourcing, correspondence and coordination amongst Boeing and its suppliers will induce the opportunity to be essential for managing the advancement of the 787 change program (Hitt and Xu 2015). To support the management and collaboration among dealers and Boeing, Boeing formally comprehended an online tool called Exostar that is required to get store system unmistakable quality, update control and blend of vital business blueprints, and abatement change time and cost. Reduction of Direct Supply Base - To decline progress time and cost for the Dreamliner, Boeing can reinforce pivotal association with different level 1 providers who will diagram and make complete segment of the plane and send them to Boeing (Bachman 2014). By lessening its smart providing base, Boeing can focus on a observable measure of its thought and assets on working with level 1 providers (pre-mix stages) to a certain extent than with foul material securing and early part subassembly. Regardless, unless the supplier relationship is coordinated unequivocally, lessening the supply base can manufacture supply perils as a result of the diminished wheeling and dealing power of the producer (Kotha and Srikanth 2013). The framework for hypothesis behind this change is to empower its key suppliers to make and go on unmistakable scopes in parallel to diminish the change time. Furthermore, by moving all the more party operations to its key accomplices engineered in different countries, t here is a potential store assets being made cost moreover. Reduction of Financial Risks - Under the 787 structure, Boeing faces another challenge of sharing contract under which no key sellers will get bit for the change cost until Boeing goes on its essential 787 to its clients (slated to be ANA bearers) (Williard et al. 2013). This assertion part term was proposed to offer inspirations to huge assistants to take an interest and deal with their change tries. Regardless of the way that this assertion obliges certain money related challenge for Boeing's basic contractors if improvement due dates are missed, they are incentivized by allowed to guarantee their secured headway, which can then be supported to various affiliations later on (Howie 2015). Another blending power for the key accomplices to recollect that this portion of term that is licensing them to build up their wage (and potential inclinations) by implementing proper development so that the time taken by the complete space by the plane is less. Increased manufacture Capacity without acquiring increased Costs - decentralize the get-together approach would lead Boeing to farm out frameworks that are non- critical. The objective is to decrease the capital theory for the 787-change courses (Kothari 2016). In like path, under the 787 period system, Boeing needs three days for gathering complete zones of the Dreamliner at its plant. In gratefulness to the 737 stock structure, this uncommon reducing in method reach would thusly hoard Boeing's creation limit without watching extra hypotheses. Current Supply Chain Management Practices of Boeing This current century's developing patterns and practices in supply chain management in the business aircraft industry are guided by essential lean supply chain management rehearses that have been spreading all the more broadly inside the guard airplane business over the previous decade (Gudmundsson 2015). Amid this period, as a component of the more extensive diffusion of incline hones, the most striking changes crosswise over supplier systems regarding cost decrease has been through procedure upgrades, including the selection of procedure innovations. The latest case in the vast business aircraft inventory network demonstrate that procedure upgrades have a great deal more to contribute as far as both expense diminishment and lead time funds (Song et al. 2014). Inside Boeing itself, vital cost reserve funds have been accomplished through procedure enhancements, specific regarding get together operations. It is imperative to note that a large number of these procedure upgrades, which contrast regarding their extension and objectives, are utilized as a part of conjunction with each other, to determine the greatest correlative impacts. Boeing has divided it supply chain management activities into several subtasks and delegated each management part to different stakeholders. The duties of these stakeholders and the supply chain management activities are as follows: Stakeholder Duties within the supply chain management system Procurement Agent v Development of supply chain strategies v Execute and Negotiate supplier contracts v Collaborative relationships and performance of supplier is managed. v Assessing capacity and capability of the supplier by Identifying mitigating supply chain risks Procurement Analyst v Development, and deployment of supply chain metrics v Documentation support is provided to the supplier and contracting management v Manage and Distribution of data that are related with supplier Boeing Supply Chain Analyst v Forecasting, managing and optimizing inventory v Schedule and older parts, products, services data v Store, receive ship and distribute inventory Supply Chain Logistics v Global transportation and logistics infrastructure of Boeing is managed v Manage and maintain collaborative relationships with authoritarian agencies, transportation, organizations and service providers Supplier Quality v Conducting product observance assessments supplier process and supplier process v Educating and coaching internal organizations and suppliers on regulatory compliance, Quality system and company quality initiatives Project Management (PERT/CPM Diagram, Gantt Chart) Figure 1: CPM Diagram (Source: Created by Author) Figure 2: Gantt Chart (Source: Created by Author) Figure 3: WBS Chart (Source: Created by Author) Critical Analysis of Boeing and Airbus Tools Boeing uses web based tool called Exostar for its business purposes. In this contraption, Boeing uses Managed Access Gateway (MAG) to securely relate its Supplier Portal to the Exostar trading associate gathering (de Millan et al. 2015). Suppliers that oblige access to the Boeing Portal are issued One-Time Password (OTP) tokens as a second component of customer confirmation, going before getting to the Boeing Portal and potentially other Exostar or untouchable applications. Airbus uses ADOC web instrument for its business and operations. Airbus' e-game plans are proposed for flight operations building, pilots, prosperity executives and backing and planning work power because of innovative programming and specific instruments (Xiao and Luo 2015). The essential destinations are to provide the customers of Airbus abilities for enhancing their functions and for growing accessibility of task, while withdrawing costs and decreasing hypotheses. ADOC gives a series of services that are related with software for ensuring cost-effective and consistent operations (Chaston 2013). For the operations of flight, these e-solutions includes the following tasks: Safety and new Safety Management System (SMS) requirements Fuel and flight efficiency Electronic Flight Bag (EFB) Digital management of documentation ADOC is more efficient than Exostar as it provides more options for customer and client support as well as a variety of other features that cannot be found in Exostar. Hence, even in the use of web based tool, Airbus has been able to surpass Boeing by a large margin. Role of IT in Boeing and Airbus Technical development has been the driving variable for enhancing aircrafts operational benefit. Aircrafts have could diminish costs and redesign operations by utilizing pushed plane motor headway, IT courses of action, and reduced improvement (Grabianowski 2015). The advancement has enhanced availability and improved voyagers' travel experience. Fuel is a bearer's greatest cost part. At this moment, it speaks to more than 30% of total working expenses. According to Boeing, advanced aircraft technology provides the following benefits: More efficient aircraft models More fuel efficiency in aircrafts Enhanced passenger experience during flights Airbus has been similarly affected by IT systems. However, they have been able to utilize latest IT tools more effectively and spread their business worldwide (Avdzhieva et al. 2014). Hence, IT has played a major role in the development of Airbus Company. Conclusion From the report, it can be concluded that although Boeing is one of the best companies in Aircraft business, it has faced a large number of issues that have dealt a serious blow in the business of the company. Due to poor future planning and futile marketing policy, although Boeing saved themselves from immediate downfall, the problems continued to persist. On the other hand, Airbus made the right decisions regarding the marketing policies and operations management and hence, they were able to surpass Boeing in terms of business as well as services Recommendations The following recommendations can be provided for Boeing. Future Planning - They should emphasize on future planning instead of only temporary fixes. More Technical Upgrades - They should apply technical upgrades in addition to internal upgrades. Boeing must solve the problems of the aircraft bodies and batteries that have become serious problems in the last few years. Risk Assessment - They should do a risk assessment test to determine possible risks in the application of upgrades. Better Marketing Strategies - They should use better marketing strategies. 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Research Paper on Best Buy Company Essay Example

Research Paper on Best Buy Company Essay We recommend you to write your college or university research paper on Best Buy as one of the most popular topics today. Best Buy Co. Inc. is one of the largest electronics retailers in the U.S. and Canada. Best Buy company owns more than 1,000 stores. Best Buy plans to expand its network to other markets, in particular the Chinese market. Best Buy Company owns a number of brands of electronics, in particular, Insignia, Dynex, which also are sold through the network of Best Buy shops. Richard M. Schultz and Gary Smolyak opened a shop selling audio in St. Paul, Minnesota in 1966. A year later, Sound of Music, that was the name of the shop, became a part of Kencraft Hi-Fi Company and Bergo Compan. Two more shops under the same name were opened in downtown Minneapolis. The first fiscal year, Sound of Music ended with a gross revenue of 168,000 dollars. In 1969, the company went public, introduced a system of stock options and opened 3 more stores in the area of Twin Cities (Minneapolis and St. Paul ). Annual revenue in 1970, reached the mark of one million dollars. In 1979, The Sound of Music managed to became the first distributer of video equipment from Magnavox, Panasonic, Sharp, and Sony. We will write a custom essay sample on Research Paper on Best Buy Company specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Research Paper on Best Buy Company specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Research Paper on Best Buy Company specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Best Buy Company today is the largest seller of home appliances and electronics in the USA, controlling 21 % of the market. This retail chain is most known for its massive sales. In addition, this company is very proud of the fact that sales staff has a fixed salary and not commission from sales, which allows its sellers to maintain objectivity when recommending products. In the U.S., Best Buy actively experimenting with different marketing strategies. For example, some large stores and offers customers a personal shopping assistant, who help you quickly make the necessary purchases or pre-plan your route. One of the basic principles of marketing the company uses is the so-called â€Å"the buyer centrism.† Within this concept, design, range and style of service in each Best Buy store varies depending on the place in which it is located and the main target audience. In the framework of a unified corporate identity, the company tries in each region to adapt to the needs of local customers. In summer 2007, the company announced major plans to expand its network. Under this strategy, in June 2008 Best Buy established a joint venture with British retailer Carphone Warehouse. Commenting on the deal, Best Buy representatives noted that it â€Å"would be the prelude to the global development of the company in the rest of Europe.† Use sample research papers and research proposal examples on Best Buy as excellent sources of the relevant information on the topic. Note! Free research papers and research proposals about Best Buy Co. are 100% plagiarized!!! At EssayLib.com custom writing service you can buy a custom research paper on Best Buy Company topics. Your research paper will be written from scratch. We hire top-rated Ph.D. and Master’s writers only to provide students with professional research paper assistance at affordable rates. Each customer will get a non-plagiarized paper with timely delivery. Just visit our website and fill in the order form with all paper details: Enjoy our professional research paper writing service!