Different organizations utilize dynamic approaches in solving the challenges encountered within the company. One of the institutions that demand the participation of the employees in establishing alternative aspects in the entertainment industry. Further, conflicting business goals lead to the employee’s underperforming cause of the company’s lack of a clear vision board. The closing down of Yang Sing hotel in Manchester poses an insight concerning the profound components to integrate for better performance. Although the economic recession rendered a negative impact, it is an initiative that risked interdependence among all parties. It is the responsibility of the managerial team to consider consumer behavior and preferential baseline for optimal performance in the marketplace.
Business ethics is a multifaceted phenomenon that enshrines the ability to uphold authenticity and clarity in the decision-making process in an entity. One of the critical issues that threaten a firm’s performance level is copying the enterprise strategies from other companies. The organizational culture of one company differs from another institution’s culture to boost performance and employee satisfaction. Therefore, the lack of authenticity leads to unsustainable organizational culture hence negatively affecting competence (Kačerauskas, 2019). Copying corporate strategies from another company is an unsustainable approach cause it faces incompetence and inefficiency from the conflicting goals. Due to competitors’ copying strategies, ethical issues in business management engulf inherent issues such as conflicting business goals and poor management. The future of a business lies in establishing definitive goals such as the expected profit margin within one financial year.
Different organizations utilize dynamic approaches in solving the challenges encountered within the company. One of the institutions that demand participation of employees in establishing alternative aspects is the entertainment industry. Further, conflicting business goals lead to the employee’s underperforming cause of the company’s lack of a clear vision board. In this case, the company faces an additional ethical issue of poor leadership due to the employees’ conflicting ideologies (Kačerauskas, 2019). In a different spectrum, the lack of authentic business strategies leads to the company’s stagnation and inefficient utilization of the available technological resources. Although the company acquires technological resources, the management lacks insight regarding optimal and sustainable utilization to enhance its operations.
Ethical issues that arise from the lack of genuine corporate strategies encompass poor decision-making processes and the establishment of a dysfunctional organizational culture. Sustainable business management is the ability to establish originality that promotes the development of competitive advantage. Authenticity in the practices boosts the essence of innovation and the level of competition in the enterprise environment. Therefore, it is vital that firms embrace innovation and technological advancement as the primary drivers of competence (Kačerauskas, 2019). Culturally sensitive care is the approach of ensuring the recognition of diversity within a particular mainframe. The global human society is dynamic hence the importance of incorporating the practice that boosts the relationship-building among people from different ethnic backgrounds. It is an essential factor within the healthcare sector due to the optimal service delivery.
Thematic Approaches
Project Objectives
- To determine the best management strategies for a business start-up.
- To assess the impact of the business environment for a successful start-up.
- To evaluate the significance of market segmentation.
- To establish the key outliers for optimal business performance.
Stakeholder expectations and engagement management
Over the decades, business competence intensified due to technological advancement, thus adopting initiatives to acquire a leading market position. One of the approaches to enhance an institution’s expertise involves boosting the skills and capacity among the employees and developing a functional organizational culture (Baum, 2018). I believe in the effectiveness of elevating the prowess of an employee as an empowerment tool to increase the performance baseline. The major function of a company’s mores entails steering the nature of interaction among the workers. The interdependent relationship between the enterprise’s values and the laborer’s dexterity primarily fosters proficiency in a firm’s adeptness to achieve significant financial and product development goals.
Skills and capacity development is an approach embedded with a strategic management plan that significantly impacts the performance of an organization. The prominent asset of a company is the workers hence the importance of integrating values and expertise. Researchers establish a seven-step procedure that enhances an organization’s performance under the spectral view of tactical framework ideology (Kamara et al., 2017). The first phase engulfs understanding the importance of the prudent mainframe. It is crucial to establish the purpose of a disposition to optimally integrate the dynamic stakeholders during the implementation process. The second maneuver is the setting of objectives. The aspect significantly contributes to the new behavioral response by the participants due to the articulate guideline to sustain the progressive change in the enterprise. Different institutions uphold distinct concepts during operations and practice. As a result, the advancement of the rationales provides an insight among the laborers and the administrative team regarding the shrewd animus.
In a different spectrum, the third step in developing and implementing a strategic plan entails the establishment of assumptions. There are dynamic, unpredictable situations in the business environment due to the variant stakeholders participating in the buildout of value from the products (Mitra et al., 2018). An excellent example of a premise is the adequate availability of resources and time to execute the aspects. Identifying the fundamentals fosters the prominent prioritization of initiatives, such as promoting the well-being of the employees. The framework enshrines intensifying the skills and capacity of the employees. As a result, it is crucial to determine the interdependent variables contributing to the proficient enterprise competition. Another phase of the enactment is researching the disparate aspects of accomplishing the objectives. A significant percentage of companies focus on integrating the organizational culture and the employees’ expertise. Therefore, it is crucial to establish the key factors that enhance the set purposive initiatives’ accomplishment and the dynamism of the conceptual framework.
It is the responsibility of a company’s management team to establish initiatives that steer the growth and development of the entity. In this case, researchers indicate that one of the major ideologies that enhance employees’ skills and capacity effectiveness encompasses choosing an efficient and compatible action plan (Sheth, 2020). The main reason for the administration’s participation in this step engulfs integrating the disposition with the enterprise’s goals. An excellent example of an undertaking is determining the approaches of improving teamwork and the best benchmarking firms. Although distinct corporations utilize different mainframes to boost the performance outlier among the workers, benchmarking provides a platform for exchanging values that contribute to the improvement of standards (Kembauw et al., 2020). It is the mandate of the relevant parties to initiate articulate and engaging propositions to advance competition among the ventures.
The sixth step in implementing the strategic plan on improving skills and capacity among employees entails the development of a supporting plan. The concept on impact of technological advancement enhanced the purchaser’s contribution in the decision-making based on knowledge about products. As a result, companies adopted the dynamic strategy of improving the customer service experience through the interaction between workers and clients. The endowment of expertise among the laborers demands the modification of the policies to enhance the actualization process of the framework within an institution (Rosa et al., 2019). An excellent example of a mainframe entails a profound communication structure outline that indicates proficiency in the flow of information. Optimal sharing of details across the change initiative enhances the derivation of effective results from the engagement, such as improving the performance outlier among the laborers.
The final step of the strategic plan entails the implementation process that indicates the significance of skills and capacity endowment among the employees. The workers feature the highest asset value of an organization. Therefore, it is the responsibility of all relevant stakeholders to ensure the prominent prioritization of initiatives that enhance the expertise among the workers (Laine et al., 2019). On the one hand, the laborers’ attainment of dynamic professionalism reflects through the institution’s competence. On the other hand, the concept intensifies the contest within the entrepreneurship scape. Mastery in delivery on customer service experience involves acknowledging the client’s needs and the desired purchasing value.
Planning, Scheduling, Resource Utilization, and Cost Estimation
It is important to assess consumer behavioral patterns cause of the trickle-down effect of the profitability margin. Brand positioning is an ideology in the business market that demands a structural implementation approach mainly because of the resultant strategic management. The use of a structured perspective over an unstructured appeal contributes to creating a sustainable competitive advantage (Mukwarami & Tengeh, 2017). The fabric phenomenon in trademarking is a tool in any organization since it contributes to developing crucial concepts in competence. One of the proficiencies geared by the initiative involves both internal and external administration of the operations. The intrinsically based governing operations encompass stimulators and inspirational acts, verification tools for the planned activities, and promoting efficient employee relations. The extrinsic-based operations enshrine the strategic placement of the identity architecture, an indicator of the business’s growth objectives and its communication strategy (Nguyen, 2019). Brand positioning is a pillar to the development of strategic management of an organization due to the integration of internal and external directorial tools.
The competence of an organization depends on the effective monitoring and control of dynamic business operations. The dynamic business operations that enhance competitive advantage engulf planning, analysis, implementation, and control. On the one hand, the structural approach in brand positioning gears the development of competitive advantages at the organization (Di Crosta et al., 2021). On the other hand, using an unstructured aspect involves the lack of definitive business goals and objectives. Over the decades, globalization fostered the intensification of business competition. Therefore, a lack of concise enterprise objectives limits a company’s efficiency incompetent service delivery. In this case, the disparate approach poses a challenge in boosting the firm’s competence than a structured approach in trademarking (Nguyen, 2019). Apart from establishing a corporation’s identity, brand marketing initiatives render a definitive solution to utilizing the strategic management of an organization.
Consumer behavioral studies are a multidimensional phenomenon that involves the coordinative efforts between entrepreneurs and customers. In this case, companies focus on restructuring the marketing initiatives such as branding to enhance the recognition and the alteration of the purchasing decision. Different factors such as sustainable financing and the advent of the Coronavirus pandemic posed an imminent impact on the living quotient and spending among the personnel. According to Gokhale et al. (2021), the clients’ purchasing decision depends on the pricing and income of their counterparts. As a result, it is the responsibility of the management team to identify the needs and wants of the consumers to elevate the satisfactory essence of the involved parties.
Performance Measurement and Management of Quality
Apart from utilizing strategic human resource management, it is important to develop initiatives that enhance workforce diversity. One of the elements that involve diversity management practices is the changing socio-demographic traits. Organizational culture is an aggregate of common practices among the employees. Therefore, the nursing institution’s heterogeneity of workers meant the change in the attitude and approach towards dynamism within the public workplace. The researcher further establishes that the managers implement diversity management practices as the key solution to the emergent issue of conflicting ideals (Boella, 2017). Since constant change is an unavoidable concept in human life, in the workplace, the personality of administrators influences the diversity of the workforce.
The role of the leader is team-oriented, while a manager focuses on the accomplishment of tasks. The disparity between the two renders the profound distinction in their duties and responsibilities in eradicating bullying. On the one hand, a manager mainly develops frameworks and targets for the relevant department to accomplish growth and development. On the other hand, a leader establishes the ideal variables to enhance the coordination among workers to enhance the coordination. Primarily, both entities provide platforms to foster positive change within an organization (Morsiani et al., 2017). A captain’s duties ensure compliance to the regulatory mainframe, setting up policies, and spearheading the transformation. The additional roles of an administrator include the scheduling of teams, assignment of duties to staff, and career opportunities for the workers. Although both positions dynamically contribute to the nursing profession, their coordination cultivates a significant eradication of bullying by boosting the interrelations among colleagues.
Diversity management practices encompass the integration of dynamic activities that empower personnel with the necessary skills and knowledge. An effective diversity management practice should feature proactive measures. In this case, there are three phases in promoting diversity management practices. The first step enshrines the ability to recruit employees and managers with skills regarding various backgrounds. The second step is the gearing of an organizational culture towards the diversity climate, and the last phase involves eradicating discriminatory behavior (Boella, 2017). Notably, the evolution in the business environment fostered the intensification of the level of competence. As a result, the employees emerged as the key organization’s asset due to the influence on customer service experience. Therefore, the presence of discriminatory behavior within a company threatens its competence level in the environment (Sim, 2020). Optimizing on human resource management fosters the profound necessity on boosting the operational standards among the consumers. The concept of diversity management practice is an issue that demands further exploration mainly because of the dynamic influence on employees’ performance and contribution to the evolutionary process.
Risk Management
The business start-up faces imminent risks because of the proficient element of sustainable competence. Over decades, technological advancement contributed in the elevation of competition among different business outlets. A significant percentage of enterprises focus on the essence of incorporating strategies that elevate productivity and customer service experience (Hamilton et al., 2019). Another factor that attributes to the prominent aspect of innovation enshrines the emergence of a well-informed consumer baseline. Artificial intelligence is the key solution to the contemporary challenges encountered during service delivery. It is crucial for relevant stakeholders to incorporate approaches that integrate the computerized tool with discrete distribution statistical formulas to enhance the performance across the organization (Shilling & Celner, 2021). There is a profound interdependent relationship between purchasing behavior and the cultural structure of a company.
Decision-making is an essential factor within an organization due to the necessity to align operations upon attaining the business goals and improving the value. The integration of technological advancements with an institution’s activities and engagements with employees fostered dynamic elevation in the quality of services (Mothersbaugh et al., 2020). An excellent example of a sector that encounters a proficient increment in the level of service delivery is the entertainment industry. The utilization of the dynamic components fosters improved performance among the staff in the delivery due to providing in-depth and objective details regarding the alternative solutions to certain problems (Miskiewicz, 2017). The involvement of the employees in the decision-making process profoundly contributes to establishing an inclusive corporate culture. The values of a company dictate the type of management and relationship-building among the employees.
The significance of multicultural diversity entails fostering harmony in coexistence among individuals from different ethnicities. It is an approach that renders proficiency in boosting the social identity and appreciating the ideal constructs based on moral and ethical code of behavior. The primary duty of all personnel enshrines assessing the cultural background and understanding the power dynamics without establishing either superiority or inferiority complex (Sim, 2020). Racism is one of the issues threatening peace and harmony among communities within American society. Consumer behavioral studies are a multidimensional phenomenon that involves the coordinative efforts between entrepreneurs and customers. Therefore, it is the responsibility of all stakeholders to integrate the frameworks with significant elements such as capitalism and organizational culture to ensure the equal distribution of resources and privileges like job promotions.
It is crucial to learn and comprehend the dynamism of cultural practices to acquire insights based on the best approaches to utilize during interactions. According to Miller and Garran (2017), racism is a topic that faces significant controversies across different institutions in America. An excellent example is establishing a task force within an organization that trains the staff regarding multicultural diversity and the necessary interaction techniques. Miller and Garran (2017) depict that ethnicity contributes to the development of social identity. Therefore, the violation of the cultural code of an individual affects their service experience with the company. In this case, it is crucial that staff members, despite recognizing other challenges such as ableism, heterosexism, and sexism, it is vital that the personnel implement the practical aspect of the critical race theory. Although racism is a factor rendering the inequitable distribution of resources and privileges, the core element to enhance is the deep understanding of multicultural diversity and its significance.
Consequently, the closing down of Yang Sing hotel in Manchester poses an insight concerning the profound components to integrate for better performance. Although the economic recession rendered a negative impact, it is an initiative that risked interdependence among all parties. It is the responsibility of the managerial team to consider consumer behavior and preferential baseline for optimal performance in the marketplace. One of the frameworks to enhance productivity enshrines the utilization of organizational culture as an empowerment entity among the employees. Corporate culture is a composition of effective managerial strategies in the global marketplace. The main element that enhances the competitive advantage within the hospitality industry enshrines the professionalism and coordination among workers in service delivery system.
Reference List
Baum, T. (2018). Sustainable human resource management as a driver in tourism policy and planning: a serious sin of omission?. Journal of Sustainable Tourism, 26(6), 873-889.
Boella, M. J. (2017). Human resource management in the hotel and catering industry. Taylor & Francis.
Di Crosta, A., Ceccato, I., Marchetti, D., La Malva, P., Maiella, R., Cannito, L., Cipi, M., Mammarella, N., Palumbo, R., Verrocchio, M.C. and Palumbo, R. (2021). Psychological factors and consumer behavior during the COVID-19 pandemic. PloS one, 16(8), p.e0256095.
Gokhale, A., Mishra, A., and Veluchamy, D. R. (2021). Factors influencing purchase decision and consumer behavior in luxury cars. Dogo Rangsang Research Journal, 11(7).
Hamilton, R.W., Mittal, C., Shah, A., Thompson, D.V. and Griskevicius, V. (2019). How financial constraints influence consumer behavior: An integrative framework. Journal of Consumer Psychology, 29(2), pp.285-305.
Kačerauskas, T. (2019). Ethics in business and communication: common ground or incommensurable?
Kamara, R. D., Leonard, S., and Haines, R. (2017). Enhancing the capabilities of municipalities for local economic development through skills training.
Kembauw, E., Munawar, A., Purwanto, M.R., Budiasih, Y. and Utami, Y. (2020). Strategies of Financial Management Quality Control in Business. TEST Engineering & Management, 82, pp.16256-16266.
Laine, K., Tynjälä, P., Eteläpelto, A. and Hämäläinen, R. (2019). Students’ self-reported learning outcomes after a business start-up education program. International Journal of Training Research, 17(2), pp.98-115.
Miller, J.L. and Garran, A.m. (2017) Ch. 2: What is Racism? Ch. 3: A Brief History of Racism in the United States and Implications for the Helping Professions, & Ch. 4: The Web of Institutional Racism. Web.
Miskiewicz, R. (2017). Knowledge Transfer in Merger and Acquisition Processes in the Metallurgical Industry.
Mitra, A., O’Regan, N., and Sarpong, D. (2018). Cloud resource adaptation: A resource based perspective on value creation for corporate growth. Technological Forecasting and Social Change, 130, 28-38.
Morsiani, G., Bagnasco, A., and Sasso, L. (2017). How staff nurses perceive the impact of nurse managers’ leadership style in terms of job satisfaction: a mixed method study. Journal of nursing management, 25(2), 119-128.
Mothersbaugh, D.L., Hawkins, D.I., Kleiser, S.B., Mothersbaugh, L.L. and Watson, C.F. (2020). Consumer Behavior: Building Marketing Strategy. McGraw-Hill Education.
Mukwarami, J. and Tengeh, R. (2017). Sustaining native entrepreneurship in South African townships: The start-up agenda. International Economics.
Nguyen, V.Q.A. (2019). Digital marketing plan for an international event. Case: Guinness sauna event.
Rosa, M.C.W., Sukoharsono, E.G. and Saraswati, E. (2019). The role of venture capital on start-up business development in Indonesia. Muhammadiyah University Yogyakarta.
Sheth, J. (2020). Impact of Covid-19 on consumer behavior: Will the old habits return or die?. Journal of business research, 117, pp.280-283.
Shilling, M., and Celner, A. (2021). 2021 banking and capital markets outlook. Deloitte Insights.
Sim, S. H. (2020). Workplace sexual harassment and labor inspection: Focused on labor inspectors’ experience of dealing with sexual harassment cases. Economy and Society, 128, 235–265. Web.