Business - Part 2
The UK Retail Industry: A Case of TQM at Tesco Supermarket
Origin and development of TQM
Provision of high quality services is at the top of the agenda of any form of senior management. Quality is used as a strategic weapon that companies use to compete within the current markets (Heckl, et al., 2010). Quality pleases the consumers who are the most influential people for any business whether in the service sector or the manufacturing sector.
Procter & Gamble
Procter & Gamble (P&G) started n 1837 as a tiny, family-operated soap and candle company. In twenty years, its sales have already rocketed to $1 million and after another twenty years, the company was able to create Ivory Soap. (Webb, et. al., 2007) In 1890, the family owned company was then incorporated in Cincinnati, Ohio. At that point, it was already selling more than thirty different types of soap. By the nineteen nineties, P&G was producing and marketing some of the world’s most recognizable brands such as Tide, Pampers, Bounty, Pantene, Vicks, Pringles, and Crest.
The Rapid Development of International Micro-finance
One of the concepts of Finance that has continued to excel over the last two decades and to which numerous groups and institutions attribute their financial success in the various development projects is International Micro-finance. Though not so active, microfinance has been prevalent for centuries with savings and credit groups and numerous savings clubs all over the world offering financial services to the poor population that was often neglected by commercial banks. With the little profit that they made from these services, the various savings and credit developed further to form cooperatives and other development financial institutions such as micro credit organizations which provided small loans mainly to the poor people in the rural areas who could not meet the high collateral requirements of the existing commercial banks.
Many scholars have researched a lot on business ethics. Business ethics is a mode of operation that a given organization adheres to in its daily activities with its customers, employees and shareholders. Ethics of a business can be diverse and may include its dealings with an individual person, organization, community or government. Business ethics covers an organization’s dealings in relation to its environment, people and its shareholders or owners (Fraedrich, Ferrell, & Linda, 2010).
Recruitment and selection forms the foundation of the core activities and processes underlying human resource management and such activities include the acquisition, training and development, and rewarding performance of workers (Gilmore, and Williams, 2009). The success and sustainability of most organizations is directly proportional to skills and competencies of the employees.
This paper is aimed at understanding whether performance-related pay can lead to improvement in employee’s performance and job satisfaction. In order to answer this question, it is first of all necessary to research the nature of this payment system, analyze the reasons why employers choose it for their organizations. It is also necessary to consider its types and analyze their advantages and disadvantages.
Nature of Board Level decisions and the contribution of the finance director
The performance of any organization, may it be for profit or not for profit, heavily depends on the decisions that are made by the management of the organization. It is worth noting that decisions made in the organization differ greatly, depending on the position of those involved in making those decisions. The board is one body that plays a crucial role in determining the future of an organization, based on the nature of the decisions that they make.
In 2002, the HM Naval Base Clyde (Faslane) submarine base transitioned from being under the direct control of the MOD (Ministry of Defence) to a private company called Babcock International. With these substantial transitions, it was necessary for Babcock to perform change management in order to smooth over the transition, as well as improve performance, which was lackluster enough to demand the change in leadership.
In “Inside Dyson: a distinctive company?”, Shepherd et al. (2011) gives details of the secret of Dyson’s success – the company specializing in innovative, design-heavy vacuum cleaners and other household appliances. The successes and failures of Dyson’s design efforts (from their successful vacuums to the 3-in-1 vacuums that did not test well with customers) are explored, as well as their unique perspective on business, which puts quality and innovation above anything else.
Inside Dyson Case Study Questions
Dyson is a private company that engages in the development, design, and manufacture of high-performance appliances for different uses. Products from the company are used in many sectors but the company is well known in the manufacture of vacuum cleaners. Coupled with the production of high quality products and private ownership, the Dyson registers supernormal profits from the sale of its products. The Global network and international presence of the company enables it to enjoy substantive market shares in most of competitive markets such as the USA, UK, and China.