The business activities of Wal-Mart and Tfl Essay Example for Free

The business activities of Wal-Mart and Tfl Essay For this assignment, I will be describing how political, legal and social factors are impacting upon the business activities of Wal-Mart and Tfl. For businesses, this is important because they need to know how these change such as political decisions made by the government or changes to the law or changes that take place in society over time is going to affect their business. Political Factors Political factors is an external environment in which a business functions. This is a type of external constraint for a business and are related to actions of governments. This factors can affect how the business operates. Political factors include politicians, who make important decisions. These can be done at national level at the UK parliament. This is because the UK is a representative democracy, who has a member of parliament that are elected. There are political parties who with the most Members of Parliament run the country. This party is led by the Prime Minister who appoints the Cabinet of Ministers in charge of key areas of the government. Political stability is the durability and integrity of a current government regime. This is determined based on the amount of violence and terrorism expressed in the nation and by citizens associated with the state. A stable society is one that is satisfied with the ruling party and system of operations and is not interested in revolutionary or despotic ideas. For businesses, they hate instability. Businesses operates according to forecasts and scenarios about the future so instability is not what they want. Political stability is important for Wal-Mart because the society is satisfied so that this provides a platform for Wal-Mart to sell their goods. However if the is political instability in the UK, it affects the decision making process and their profits. This is because the confidence in the economy will go down and customers will be less likely to spend. For Tfl, political stability is important because as the organisation budget is paid by the government, if there is instability the money flow will get disrupted. Also when political instability happens there is usually conflict and as Tfl provides a transport service, there could be damage. However in the UK there is a stable political system, so this is the environment for the business to grow  and expand. Another political factors which affect a business is the fiscal policy of t he business. Fiscal policy is the means by which a government adjusts its spending levels and tax rates to monitor and influence a nations economy. It is the sister strategy to monetary policy through which a central bank influences a nations money supply. These two policies are used in various combinations to direct a countrys economic goals. Fiscal policy works by increasing or decreasing tax levels and public spending to maintain the health of the economy. Fiscal policy affects Wal-Mart because by changing the amount of disposable income people have to spend. This can affect the consumer demand. This happens by higher taxes. If taxes are higher than customers will have less money to spend and this will affect the profits of Wal-Mart as less people have money to spend. For Tfl, the fiscal policy will affect the business because as Tfl is a publicly funded, if there is a cut in taxes this will lead to less money for the government. To balance the books, the government will have to cut spending. This directly affects Tfl because their budget will be cut. Another political factor which affects a business is the membership of inte rnational trading organisations. For the UK, they are part of the EU or European Union. The European Union, or EU, is known formally as the European Economic and Monetary Union. It establishes a common market among its 28 member countries. This means that all border controls between members have been eliminated, allowing the free flow of goods and people. The EU common market also means that any product legally manufactured in one member state can be sold in any other member, without tariffs or duties. Taxes have been standardized. Practitioners of most services can operate in all member countries. The cost of airfares, the internet and phone calls have fallen dramatically. By being the EU it affects Wal-Mart because as Wal-Mart is an international company it is easier to operate in the EU because the regulations are same and taxes are similar. Also the EU sets regional policies, so if a country in the EU is struggling and need help the EU will help. This affects Wal-Mart because their investment will be safer because the EU will not let the country collapse. For Tfl, being in the EU helps because as Tfl provides a transport service it needs to import the go ods to improve the infrastructure of the London and being in the EU it is easier and with less paperwork to get the goods. Another political factor which  affects a business is the enhancing of the skills of the working population. This means the education of the youngster of the UK, the training of the working population and research. The government can affect this by the spending it does on the education system and apprenticeships. This affects Wal-Mart because as the UK economy recovery there is an increase in the demand of skilled workers. Wal-Mart needs skill workers for the finance, Management and etc. so with the skilled workers the business can expand. For Tfl, it needs skilled worker because as Tfl provides a transport service it needs engineers how there is a shortage as 88% of employers report not being able to find qualified engineers. Also as Tfl is a publicly funded organisation is has a set budget for employees so the business is at a disadvantage because it cannot pay the same as private businesses. So this is why the enhancing of skilled workers is important for businesses. Finally, another political factor which affects businesses is the government support for different types of organisations. For private businesses, the government gives tax credit to businesses for employing more people or expanding their business. This affects Wal-Mart because this provides a goal because if the grow they will get awarded. Also if Wal-Mart expand they will get bigger profits and with the tax credit, it is easier to grow. For publicly owned companies, the government supports them by paying for part of their budget and the public businesses don’t pay taxes. This affects Tfl because the company doesn’t have to worry about taxes cutting into their profits and as the government pay for their budget, there is less worry about paying for everything. So these are five political factors which affect Wal-Mart and Tfl. Legal Factors Legal factors are things and laws that the government or higher authorities pass that would have an effect on how business are run. Businesses must operate within the framework of the law. However if the business fails to follow the law then it can lead to fines and even imprisonment of directors. Therefore, businesses give high priority to make sure they comply with the law. There are three main types of laws business follow: Company law – Tow businesses are set up and run Contract law – The contract that businesses make with employees, consumers,  suppliers and so on Competition law How businesses deal with employees, consumers, suppliers, and so on, and how businesses are allowed to compete with each other. Company law Company law is providing a framework for businesses. Company law is the field of law concerning companies and other business organizations. This includes corporations, partnerships and other associations which usually carry on some form of economic or charitable activity. One example of a company law is the Companies Act 2006. This is an Act which was passed by the Parliament of the UK. The act provides a rule book for the companies in the UK. This act is an improvement on the Companies Act 1985 because it now it is: To enhance shareholder engagement and a long term investment culture; To ensure better regulation and a Think Small First approach; To make it easier to set up and run a company; and To provide flexibility for the future The key parts of the act is: The Act codifies certain existing†¯common law†¯principles, such as those relating to†¯directors duties. It implements the†¯European Unions†¯Takeover†¯and Transparency Obligations†¯Directives. It introduces various new provisions for†¯private†¯and†¯public companies. It applies a single company law regime across the United Kingdom, replacing the two separate (if identical) systems for Great Britain and Northern Ireland. It otherwise amends or restates almost all of the Companies Act 1985 to varying degrees.[2] This affects Wal-Mart because as Wal-Mart has a board of directors, this act states that there must be one person as a director and there cannot be one sole director and the minimum age of the director must be 16 years old. This affects Wal-Mart because it needs to employ more individuals to help run the business and this will affect the profits of the business. For Tfl, this act affects the business because as a part states that accounts must be submitted within 9 months of the year end and this is a change from within 10 months. This affects Tfl because now it needs to spend money reorganising the structure of the business so that it can submit  the account on time. Furthermore, a failure to do some will lead to a fine. Contract law Contract law is the protection of consumers and employees. This is a body of law that governs verbal or written agreements relating to exchanges of goods and services, money, and properties. Businesses form contract with many different individual, groups and bodies outside the business. This include: Lenders Employees Consumers Suppliers of stock Suppliers of equipment Sellers of land and building For contract law there is two main types. These are contracts with consumers, and contract with employees. However I will be doing contracts with employees. The legislation I will discuss is employment law. Employment law is the legal relationship between the worker and employer. A key component of employment law is the creation of a contract. A contract of employment should include details such as names of employer and employee, job title and job description, date employment starts, the place of work, the address of the employer, amount of pay and how it will be paid, hours of work, holiday pay entitlement and notice period required. The contract is legally binding and if the employer or employee breaks the law they can get sued. This affects Wal-Mart because a part of employment law is the minimum wage, which is currently at  £6.50 per hour for workers aged 21+. This is the lowest Wal-Mart can go in payment, this affect the choice of Wal-Mart because they cannot decide how much they want to pay but it is forced upon them. For Tfl, the employment law affect them because of parts such as the EU directive call the Working Time Directive. This set out that there should be a minimum rest period of 11 consecutive hours in every 24-hours period. So Tfl have to give their employees this, even if they are falling behind in work, they have to employ a new set of worker to catch up. Competition law Competition law is a set of rules that promotes or seeks to maintain market  competition by restricting anti-competitive practices by businesses. Also these are laws governing how businesses can compete with each other. For example law against restricting business practices to reduce competition such as two or one businesses agreeing to a set price. Also laws against monopolies and mergers to stop businesses from dominating a particular market. This affects Wal-Mart because this company is one of the largest in the world, so they can investigated by the UK’s Competition Commission because they don’t want Wal-Mart to be dominate. This affects Wal-Mart because it restrict them to the amount they could grow. For Tfl, the competition law affects them because as Tfl is in the tertiary sector of the economy, it offers contracts to supply them. This law states that Tfl must review all the bids to make it fair. This adds to the time and costs because it will take a longer period of time to process the bids and accept one. Social factors Social factors relate to changes in the behaviour, taste and lifestyle of communities on the local, national and international scale. Over time many changes take place in society which are relevant for business organisations, such as in: Demographic issues Households and families Education Attitudes to work Changes in structure of the society One social factor is the demographic issues. For the UK, they are experiencing population growth. Currently, the UK population is 64.1 million and it grow by 400,000 last year. This is 0.63% increase from the previous year. For businesses this can be a good thing because there will be an increase in demand. Also population growth also means economic growth. For Tfl, population grow has pros and cons. this is because with population grow will mean there is an increase on the amount of people who use the services. So Tfl will have to spend more money to reduce the strain on the service. This affects the profits of the business. However because of the increase in the population there is going to be an increase in revenue because it costs money to use the service. For Wal-Mart, population growth  is a good thing because more individuals will use their products. This will increase their profits. Another social factor is the changes in structure in the society. Social structure is the di stinctive, stable arrangement of institutions whereby human beings in a society interact and live together. Social structure is often treated together with the concept of social change, which deals with the forces that change the social structure and the organization of society. For businesses, one way the social structure changes is the ageing of the society. Currently, the UK population is ageing. For Tfl, this affects them because as the population ages, there will be less engineers and such to run the services or build it. For Wal-Mart this affects them because there will be less workers to run the business so Wal-Mart will have to spend more on employees to get the best. Another social factor is education. The average level of education in a society affects the interests and sophistication of consumers. For example, in a community in which a high percentage of potential customers have some form of post-secondary education, small-business owners might use more details and explanations while advertising and promoting products. For Tfl, this affect them because most of Tfls jobs are high skilled, so an educated society is important and required to expand. However they can get around it by getting employees around the world. For Wal-Mart it is not as important because they need less educated employees because most of their employees are cashiers and shop assistants. However they need mangers. The UK does have an educated society so the business need not worried. Another social factor for businesses is attitudes to work. This is the way society thinks, feels or behaves to work. For businesses, this is important because businesses need employees who are motivated so that they care about. For the UK, the attitude of work is good because this society is a individualistic. This means individuals care about themselves and how they are going to a success. For Tfl, this is important because they want employees to work hard but also care about the people who is going to use the service. This is going to improve the customer experience because if they don’t care than the service will not be the best it could be. For Wal-Mart, the attitudes of work is important because the more they care the better the busin ess is. This will affect the profits of the business because customers will like the business because employee will show passion.   Another social factor of the business is the attitudes to male and female roles in business. Gender roles are societys concepts of how men and women are expected to act, and are shaped by cultural norms. For the UK, male role and females are one of the most equal in the world. However in some jobs males get more money than females for doing the same job. This affects Tfl because if there is inequality than female will not become engineers and such, which leads to less engineers and Tfl will need to pay more for engineers. So this affects their profits. For Wal-Mart, the gender role affects them because there will be less workers because females will be discouraged to work. Also if females work this will boost the economy and more people will spend on their business.

The Images and Imagery of Shakespeares Macbeth Essay -- Macbeth essay

The Imagery of Macbeth      Ã‚  Ã‚  Ã‚   Who can contest the statement that William Shakespeare in the tragedy Macbeth very skillfully uses imagery to strengthen the theme and other aspects of the play? In this paper we explore the imagery in all its dimensions.    L.C. Knights in the essay "Macbeth" explains the supporting role which imagery plays in Macbeth's descent into darkness:    To listen to the witches, it is suggested, is like eating "the insane root, That takes the reason prisoner" (I.iii.84-5); for Macbeth, in the moment of temptation, "function," or intellectual activity, is "smother'd in surmise"; and everywhere the imagery of darkness suggests not only the absence or withdrawal of light but - "light thickens" - the presence of something positively oppressive and impeding.   (101)    In Fools of Time: Studies in Shakespearean Tragedy, Northrop Frye shows how the playwright uses imagery to reinforce the theme:    This theme is at its clearest where we are most in sympathy with the nemesis. Thus at the end of Macbeth, after the proclamation "the time is free," and of promises to make reparations of Macbeth's tyranny "Which would be planted newly with the time," there will be a renewal not only of time but of the whole rhythm of nature symbolized by the word "measure," which includes both the music of the spheres and the dispensing of human justice [. . .]. (94-95)    In his book, On the Design of Shakespearean Tragedy, H. S. Wilson interprets the imagery of Macbeth:    Macbeth is a play in which the poetic atmosphere is very important; so important, indeed, that some recent commentators give the impression that this atmosphere, as created by the imagery of the play, is its determini... ...: Barnes and Noble, 1970.    Frye, Northrop. Fools of Time: Studies in Shakespearean Tragedy. Toronto, Canada: University of Toronto Press, 1967.    Kermode, Frank. "Macbeth." The Riverside Shakespeare. Ed. G. Blakemore Evans. Boston: Houghton Mifflin Company, 1972.    Knights, L.C. "Macbeth." Shakespeare: The Tragedies. A Collectiion of Critical Essays. Alfred Harbage, ed. Englewwod Cliffs, NJ: Prentice-Hall, Inc., 1964.    Shakespeare, William. The Tragedy of Macbeth. http://chemicool.com/Shakespeare/macbeth/full.html, no lin.    Warren, Roger. Shakespeare Survey 30.   N.p.: n.p., 1977. Pp. 177-78. Rpt. in Shakespeare in the Theatre: An Anthology of Criticism. Stanley Wells, ed. England: Oxford University Press, 2000.    Wilson, H. S. On the Design of Shakespearean Tragedy. Toronto, Canada: University of Toronto Press, 1957.

Aldi Case Essay

Individual Action points included in the presentation8 Appendix8 Executive Report Group 9 was assigned with the Aldi case study for the Marketing Management assessment. I was assigned with the role of Group Leader by the members and also trusted with the work for the PowerPoint presentation slides as I stated that I have the proper knowledge. The role of the leader was taken seriously and I starting setting the meeting conditions and proposed and delegated the individual research subjects related to our group case study. The individual research I undertook for the Aldi case study was the defining the Lean concept and detail research of the Continuous Improvement concept. As a group leader I took the decision that all the individual pieces of research to be presented inside the group for all to acknowledge the management concepts used into making the company run lean processes and getting customer satisfaction. Personally I designed the slides and the structure, which was later slightly modified by John Vincent’s proposal. Together we practiced and we have presented remarkably at the final presentation. Within the presentation I exposed a summary of the theoretical concepts of Lean Production, Continuous Improvement, Time Based Management, JIT production and Total Quality Management and was followed by Medet Coban who presented the Economies of Scale Concept while in the closing part John Vincent presented the benefits of Lean Thinking concluded with a Market research regarding Aldi’s competitive advantage. Key areas of personal research and sources of information As part of the Group 9 which had as case study the food retailing company ALDI, the following areas of research have been identified: * Lean thinking philosophy * Lean production * Continuous Improvement * Just In Time Management * Total Quality Management * Economies of Scale. The research of these concepts was distributed among the group members for a more in depth research and understanding. The key areas of research that I undertook for the group activity were 1. Defining and understanding the concepts of Lean Thinking Philosophy and Lean Production 2. Continuous Improvement. Used as sources of information for the foundation of my research were the LSC Library where I am registered as a student and the internet research. Also the group used the information of the case study. The proportion of the Library research weighted aprox. 80% of the total personal research, while the case study information weighted 10% and the internet sources also about 10%. The book references will be found in the appendix at the end of this report. Key theoretical positions summary In the group presentation there were analyzed and presented the following theoretical issues: The Mission and the Objectives The Mission is established by the top management of a company. It represents the long term achievements that are wanted to be reached and the basic principles to be followed to get as close as possible to the proposed mission. These principles must be followed by all employees as they represent the company’s values and in time the will develop into the company’s culture. The Objectives or targets are meant to set the results of the activity that the company needs to achieve in order to accomplish the mission set at the beginning. They can be quantitative or qualitative but always they have to be SMART (Specific, Measurable, Attainable, Realistic and Time defined) In our presentation it was specified that the Aldi’s mission was established using the ideology Lean Thinking and that Aldi uses the same philosophy’s principles in order to achieve its business objective for growth and continuous improvement. Lean Thinking is the concept where efficiency is developed by the improvement of the quality while reducing the costs, time, space and effort. The concept is used most of the time interchangeable with the JIT concept. Lean Production is the process of organizing each process of an organization with the purpose of increasing the efficiency and minimizing the waste. Next there were presented the others concepts used as tools into achieving the lean processes as they were also presented in the case study: Continuous Improvement – relies on gradually improving the organization’s processes for a cumulative increased rate of performance improvement. A learning organization is also able to generalize the knowledge gained in the improvement process by its employees and then replicate it among them. Time Based Management – it’s a general approach meant to reduce the level of unproductive time of the business’ processes. It usually requires multi-trained staff and/or advanced technology but it leads to advantages like faster market adaptability and a faster new product development. Just in Time Production – the management system where a company provides its products/services only as demanded on the market. The benefits of JIT are the reduced cost of stock management (only the necessary stock needed to cover for potentially delay of the suppliers or the production itself), fast adaptability for the demands on the market and waste reduction. Total Quality Management – a general management concept that concludes that all the factors and the resources of the company should be used towards achieving long term success through customer satisfaction. Its philosophy is getting things done right the first time. Economies of Scale – is an effect of running the organization efficiently and applying also the previous concepts. It presumes that a company will increase their incomes with a larger production/activity while maintaining approximately the same level of costs by using its resources efficiently. Individual Key Conclusions First we learned about Lean Thinking concept and how important it is in today’s world to be efficient. Studying ALDI case study we analyzed and discovered that having a competitive advantage on the market is both beneficial for the company and the customers in the same time. ALDI’s competitive advantage was to offer the customers the high quality products at lower prices by using the efficiency concepts that allowed them to run their processes with the minimum waste and costs. The lean thinking was adopted by the top management and included in the mission statement and the business objectives as the strategy to deliver the business benefits to the stockholders and the customers. The efficiency concepts used are interchangeable and complementary and they all lead towards achieving economies of scale profitability. Continuous improvement – everybody in the organization is to accept the responsibility of their tasks and contribute to the efficiency of the organization by improving the process and the standards of the activity. Time Based Management – is the most efficient when the company relies on multi skilled trained staff and can be considered as one of the main results of the continuous improvement. Just In Time concept orientates the company’s activity towards the market requirements and allows it adapt its production volume, standards and diversity to the requirements of the customers. Total Quality Management is a global management concept that guides the entire organization’s activity towards achieving customer satisfaction and every process must be efficiently improved to meet the quality, price and customer service demanded by the consumer. Economies of scale are the primary result of the efficiency concepts that have been applied in an integrated manner towards improving the business processes and to deliver the customer satisfaction. This will achieve the long term durability and development of the company as the mission and the objectives are oriented. The practical issues that arose prior to the presentation were: * The difficulty into arranging a meeting were all the members be present and therefore making some of the group decisions just based on the judgement of the named leader. * The structure of the presentation was changed just on the last meeting as an intervention of one of the members. The risk of losing time into the preparation and repetition was bigger than the risk of the last minute change and therefore we adopted the idea. After having the Power point slides done there have been modifications into the presentation which there were not changed into the printed handout due to the lack of time. Key Critical Observations and Commentary The first impression regarding the case study was that I would have had rather as the group assessment the marketing research and the development of a new marketing strategy. The start of the work on this piece was delayed due to the uncertainty of what exactly we are supposed to do. However, working on this case study gave me the opportunity to remark that Marketing is an integrated component of the entire organizational structure even though the concepts were mostly about operational management. Discovering the management concepts like Continuous Improvement, Just In Time Management, Time Based Management or Total Quality Management made the group realize that the Marketing Strategy is more efficient when the company has its production and services oriented towards getting customer satisfaction. The individual assignment directions I found to be a little bit confusing. Key topics of personal learning They key topic that I personally learned as a result of undertaking the group assignment was the Continuous Improvement concept. I have learned that Continuous Improvement is one of the two improvement methods, the second one being Discontinuous Change or Business Process Innovation. While the second method has a rather radical approach and it’s mostly used as a final resort to adapt to the environment requirements, Continuous improvement relies on gradually improving the organization’s processes for a cumulative increased rate of performance improvement. The 3 steps in assuring CI are: 1. creating the appropriate environment – the Company must create an ambience where all employees adopt the organization’s values and then set up standard procedures for the improvement process. The most common procedure is Deming’s and Shewhart’s Plan Do Control Act cycle. 2. Involving everyone in the Organization – Company is responsible for the employees’ participation. They must train the staff in Statistical Programming Control and work teams to encourage employee participation as well as setting the objectives like Quality Costs Delivery Safety Moral. . Using the proper Problem Solving Skills – Company must make sure that all teams have the appropriate Problem Solving Skills for the process improvement they’re responsible for. Continuous Improvement also relates to the concept of Learning Organization which means that learning of individuals must be generalized and replicated inside the comp any to achieve the best optimum improvement performance. Executive Summary of The Group activity I consider that the team we created and the group assignment was successful due to the following factors: * The final presentation went well, as planned and everybody was happy of the result; * Each student had the opportunity to do a piece of research and then presenting it to the other members of the group which helped learn individually and also teach each other in an interactive manner; * Group relations were well linked and there were no complaints to each other inside the group. The presentation of the individual research increased everyone’s confidence of taken a real presentation on their own for different subjects and in different situations. Individual Action points included in the presentation The personal contribution towards the group presentation consists of: 1. I was firstly elected as the leader of the group. My role was taken seriously and I tried to set the best times for meetings and also tried to get everyone involved in the decisions and brainstorming proc ess 2. I suggested leads to be followed for the presentation. I divided the research subjects and made everyone responsible for their own piece of work. The summary of each subject of research was presented individually inside the group. 3. PowerPoint slides’ design and structure were set personally and each member has its contribution with the content of their research for one slide of presentation. 4. Created the speech for the piece of presentation I was involved and took an active role into the practice of the presentation by directing and suggesting improvements.

Professional Journalism Essay - 906 Words

In the article, ‘The Professionalization of Journalism’ John C. Merrill addresses the issue of whether or not journalism should become a professionalized occupation. Merrill notes that although journalism is not presently considered to be a profession, many journalists perceive themselves as being professionals. The Oxford Shorter Dictionary defines ‘profession’ as â€Å"Occupation which one professes to be skilled in and to follow. . . .A vocation in which professed knowledge of some branch of learning is used in its application to the affairs of others, or in the practice of an art based upon it.† Merrill outlines several advantages those within a professionalized occupation benefit from including an elite image, a level of regulation and†¦show more content†¦Also taken into account are several characteristics of professions from the book ‘The Professions in America’. The book includes objective thinking, trustworthiness, h igh levels of expertise, requested protection, solidarity among members and entrance standards as the primary characteristics required by an occupation to be deemed a profession. Merrill considers also several characteristics of professions outlined by Bernard Barber in ‘The Professions in America’. Barber argues there are four attributes an occupation must present to be named a profession which include; high level of systematic and generalized knowledge, orientation to the community rather than to the individual, group-controlled behavior and a system of rewards. Barber argues all four attributes must be present among members in order for a group to become professionalized. Upon considering these views on professionalization, Merrill concludes that while journalism does hold some of the essential characteristics of a profession, the occupation does not demonstrate a sufficient amount of the necessary attributes to merit professionalization. Merrill supports his argument against the professionalization of journalism by considering the characteristics mentioned and asking whether the art of journalism effectively demonstrates these attributes. Merrill provides several reasons to support his argumentShow MoreRelatedThe Dangers in the Job: Professional Journalism in Conflict Areas769 Words   |  4 Pagesreally constitutes a journalist. Professional journalists are definitely unlike your average person. They are trained to report all sides of an issue without favoritism or bias. Serving the people and no one else is what theyre qualified to do. Experienced journalists carry the responsibility to tell the truth about what is happening in the world. 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