Free Essay

Management Analysis

In: Business and Management

Submitted By Haining
Words 2313
Pages 10
Case Analysis of L’Oreal

Zhang Jiameng



Dr. Vijay Patel

Table of Contents
Overview and History…………………………………………………………….pg3
Current Situation and Major Issue…………………………………...………… pg3
Competitive and SWOT Factors ………….……………………………………..pg4
Major Objective and Why………………………………………………………..pg8
Alternatives and Assessment…………….……………………………………….pg9
Recommendation and Implementation…………………………………………pg10
Work Cited……………………………………………………………………….pg12

I. Overview and History The L’Oréal Group is a French cosmetics and beauty company founded by Eugene Schueller in 1909, headquartered in Clichy, Hauts-de-Seine. It is the world’s largest cosmetics company, which has developed activities in the field of cosmetics, concentrating on hair color, skin care and so on. In 1973, L’Oréal purchased Synthelabo to pursue its ambitions in the pharmaceutical field. Later on, Synthelabo merged with Sanofi in 1999 to become Sanofi-Synthelabo, which merged with Aventis in 2004 to become Sanofi-Aventis. In the same year, L’Oréal acquired Yue Sai. L’Oréal also purchased The Body Shop in 2006 and acquired major Chinese beauty brand Magic Holidings in 2014.
Timeline of L’Oreal Group

II. Current Situation and Major Issues 1. Current Situation 1) Global market: L’Oréal is the world’s largest cosmetics company, with worldwide sales of €19.5 billion in 2010. 2) Chinese market: * L’Oréal is the second largest beauty and skincare player in China and No.1 in the luxury segment. Five of its brands, including Lancôme and Maybelline New York, are No.1 in their respective categories. * However, the acquired Chinese brand- Yue Sai does not perform well. a. No substantial profit b. Barely improved sales 2. Major Issues * L’Oreal wants to expand its market share in China’s cosmetics market but it meets some specific problems on its sub-brand Yue Sai. 1) Strategic decision issue: How should L’Oreal’s new acquired brands be positioned? For Yue Sai, whether it should keep its new lifestyle positioning as the brand of “confident, modern Chinese women”, whether it should be positioned as a Chinese luxury icon symbolizing the nation’s long history and rich heritage, whether L’Oreal should consider another more affordable value position, or even try something totally different. 2) Marketing mix decision issue: a. Promotion issue: Whether L’Oreal should continue with the current TV and press campaign when facing increasing media costs. L’Oreal should think about how to communicate with customers more efficiently. b. Place issue: L’Oreal should select the right channels of distribution based on the market tiers its brands should pursue and consumers should target. For Yue Sai, how should it deal with new distribution channels and engage in franchising to create its own stand-alone stores? c. Price issue: How L’Oreal should price its sub-brands like Yue Sai in China.

III. Competitive and SWOT factors 1. SWOT analysis for L’Oreal Strengths | Weaknesses | 1. World’s largest cosmetics company 2. High market proportion in China 3. Constant research and innovation 4. Strong advertising 5. Diversified products 6. High quality | 1. Decentralized organization structure | Opportunities | Threats | 1. Large population in China 2. Increasing GDP in China 3. Increasing demanding in China | 1. Fierce competition in Chinese market 2. Less efficient acquisitions 3. Increasing promotion costs |
1) World’s largest cosmetics: L’Oreal has worldwide sales of €19.5 billion in 2010. 2) High market proportion in China: L’Oreak is the second largest beauty and skincare player in China and No.1 in the luxury segment. 3) Constant research and innovation: L’Oreal has established a Research and Innovation Centre in Shanghai, and has manufacturing centres in Suzhou and in Yichang, where it produces most of its mass and professional brands. 4) Strong advertising: L’Oreal invites Shu Qi to represent for the company and re-establish the brand’s luxury image. Later on, the company also invested in a major television and print advertising campaign featuring Chinese supermodel Du Juan. 5) Diversified products: L’Oreal encompasses four major beauty categories – hair color, cosmetics, hair care, and skin care, providing high quality for women, men, and children of all ages and ethnicities. 6) High quality: L’Oreal combines the latest in technology with the highest quality for the ultimate in luxury beauty at mass.
1) Decentralized organization structure: L’Oreal has so many subdivisions, which is hard for it to control.
1) Large population in China: China is the most populous nation in the world with over 1.3 billion people 2) Increasing GDP in China: Over the last five year, GDP PPP (Purchasing Power Parity) and GDP per capita PPP of China were increasing and two graphics show continuous increasing trends in the future, which means citizens’ income is increasing and purchasing power becomes stronger. 3) Increasing demanding in China: With increasing disposal income, the younger generation becomes receptive to cosmetics products. Moreover, due to smog, polluted air and water, more consumers use skincare products to protect their skin.

Threats: 1) Fierce competition in Chinese market: Global competitor P&G is the leading brand in Chinese market and Aupres also acquires a reputation for quality and a specific knowledge of Asian skin. Furthermore, Chinese local brands – Herborist and Chcédo also do well, who earns sales of €70 and €165 respectively. 2) Less efficient acquisitions: The post-acquisition of Yue Sai is not so smooth as anticipated. Yue Sai has never turned a substantial profit and sales have barely improved. (€35 million in 2010 vs. €31 million in 2005) 3) Increasing promotion costs: Nowadays, media costs are rising steadily and deteriorating sales limit the advertising and promotion budget SWOT | L’Oreal | Procter & Gamble | Shiseido | Estee Lauder | Strengths | * World’s largest cosmetics company * High market proportion in China * Constant research and innovation * Strong advertising * Diversified products * High quality | * High brand image and visibility * Excellent marketing and advertising * Be active in supporting major sporting and entertainment events * Higher market penetration (many daily necessities) * High investment in R&D | * Diversified products * Numbers of Chinese departments * High investment in advertising and promotion * High investment in R&D * Strong management – market analysis and versatility | * Take social responsibilities - Breast Cancer Awareness program * Powerful marketing techniques * High investment in R&D * Strong brand reputation | Weaknesses | * Decentralized organization structure * Weak on e-commerce * Inappropriate positioned brand -Yue Sai | * Fake products sold under the name of their brands | * Only 5% patented products * Inefficient production cost control | * Lack of concentration regarding customer value * Weak liquidity position | Opportunities | * More people use Internet * Increasing GDP in China * Increasing demand in China | Threats | * Fierce competition in current market * Fluctuated currency exchange rate * Increasing promotion costs | | * Less efficient acquisitions | | Anti-Japanese movement | | 2. Competitor Analysis L’Oreal’s major competitors in China cosmetics market are P&G, Shiseido and Estee Lauder. Although local firms like Shanghai Jahwa and Jala has experienced extremely strong growth, their market shares are not large enough to be L’Oreal’s competitors now. All of these competitors have great reputation in both global and China market. They have diversified products and invest a lot on R&D. As for advertising and promotion, competitors also do a lot. However, P&G has problem with fake products sold under the name of their brands. For Shiseido, only 5% products are patented, which is quite risky. Also, Shiseido has inefficient production cost control, which might influence its profits. Moreover, Estee Lauder faces the lack of concentration on customer value and weak liquidity position. Lastly, as foreign brands in China, all of them can benefit from large population, increasing GDP and increasing demand in China. But they also have to notice the fierce competition nowadays and increasing promotion costs. 1) High-end cosmetics market in China:
L’Oreal has the largest market share with 30% in the High-end cosmetics market, followed by Shiseido with 20%. Estee Lauder has more than 10% market share, while P&G has less than 10%. The rest of the market is occupied by local makers.

2) General cosmetics market in China:
In the whole cosmetics market, P&G is the leading brand with 15.10% market share. L’Oreal occupies the second most market share, 11.10%, which is just slightly less than P&G. The following brands are Shiseido (5.4%), Unilever (4.60%), Amway (3.5%), Mary Kay (3.30%), Estee Lauder (2.1%), Colgate (2.00%), Johnson & Johnson (1.80%) and Shanghai Jahwa (1.7%). Those brands consist of top ten brands in Chinese cosmetics market.

IV. Major Objective and Why 1. Major objective: a. L’Oreal aims to increase its global expansion in the next decade, providing customers with affordable luxury cosmetics. China will contribute a significant portion in L’Oreal’s expansion. 2. Reasons: 1) China Cosmetics Market Analysis:
As the world’s second largest cosmetics market, China’s nation sales of the cosmetics industry has been increasing rapidly all the time, from 60 billion in 2008 to 110 million in 2011. With the tariff reduction after China joined WTO, the tendency that the Chinese cosmetic market internationalization is inevitable. Besides, the Chinese cosmetics market will keep developing based on experts’ predictions.
Revenue of Chinese Cosmetics Market

2) China Customer Analysis:
People are more likely to be attracted by novelty. Due to severe pollution in China recently, people trend to use skincare to protect their skins. Importantly, with increasing income, more people can afford the beauty and skincare products.
V. Alternatives and Assessment
1. Alternatives: * Repositioning Yue Sai as Consumer Product Division, leaving it as its original market image. * Cooperating with some competitors to gain mutual benefits. Maybe, they can invent new cosmetics having traditional Chinese medicines. * Increasing the variability of the distribution channels like e-commerce and stand-alone stores. * Strengthening the advertising by being sponsor of important activities like Olympic Game.
2. Assessment: Alternatives | Assessment | | Advantages | Disadvantages | 1. Repositioning Yue Sai as its original market image | Since Yue Sai already has strong sales, with original market image, it can keep attracting those old customers and customers can also afford Yue Sai. With current customers’ good words, more people might want to try products of this brand. | With more foreign brands come into China market, people gradually prefer to buy foreign brands and may lose interest in Yue Sai, Also, regarding many times of positioning, customers may not trust this brand. | 2. Cooperating with some competitors to gain mutual benefits. | * Maximize the competitive advantages, by differentiating themselves with new products. * Can get access to competitors’ resources. Knowing well about competitors helps L’Oreal prepare well to fight against its competitors. * Have a wider customer range because Chinese customers think highly of products that contain traditional Chinese medicines. | * Potential risk of loosing the trade secret. * Internal management might have conflict. * If new products’ inventions fail, L’Oreal will lose a lot of money and waste much time, human resources. | 3. Increasing the variability of distribution channels | * More customers have assess to purchase L’Oreal’s products * Since younger generation prefers online shopping nowadays, it is another kind of advertising that is low cost. * E-commerce significantly lowers the rent fees and employees’ salaries. * Stand-alone shops also make L’Oreal’s products more visible and assessable. | * Some online stores have much lower prices, which is hard to compete with. * The costs of stand-alone shops are high and some rural areas are not suitable for building stand-alone stores. If the results of sales are not good, those costs can be a large waste. | 4. Strengthening the advertising | * Enhancing the brand awareness. * Giving customer a positive brand image. | * Hard to win the competitive tenders. |

VI. Recommendation and Implementation 1. Recommendation: L’Oreal should position its sub-brands clearly and appropriately such as Yue Sai. Then it can do promotions based on target market and customers and also come up with several strategies to attract more customers. Before dealing with its brands well, other things are useless. 2. Implementation:

a. Segmentation

b. 4Ps strategy

* Product strategy: diversified products Segmentation will be clearly divided according to different targets. * First, it should be divided by the position in the market place. For L’Oreal, it has global high-end brands like Armani, HR and Lancome. These brands should be targeted to mainly rich families and mostly business people with higher income. * Second, some high-end products are popular specifically in certain regions or people because of regional preferences. For example Asian based, American based and European based. * Third, L’Oreal also has intermediate products that have good quality but relatively lower prices. These should be the most part of the market share. This segmentation targets at young office ladies or men and young generations in high school or college, who are potentially becoming luxury consumers. * Price strategy: * Offer discounts and free trial products for new buyers so that potential customers can be attracted (for example, young office ladies, young couples) * Promotion strategy: * Get more involved in Chinese social media and interact more with the public, through this L’Oreal can establish better brand image and customer relationship. (Advertisement can easily been spread on social media.) * Initiate activities that relate to people’s daily life, charity and can help with social problems. * Work with T-mall or JD to directly send products from overseas * Place strategy: * Increase “store-within-a-store” in department stores * Open up own beauty chains to sell products under the brand umbrella * Establish supply chains in new locations for example, in tourism industry, L’Oreal has 57% of retailing in airport shops and 33% in duty-free shops. * Link to online global e-commerce to regain procurement market and deepen market penetration

3. Integrate the managerial and strategic planning | | Integrate the managerial and strategic planning | * Hire Chinese managers to join teams * Hire designers that understand the Chinese context to design the packaging * Starting up long-term programs to penetrate into higher-end as well as tier-2 and tier-3 cities. (Two directions) |

Work Cited
Rind, Chakar. "Estee Lauder SWOT Analysis." Free SWOT Analysis. N.p., 29 Oct. 2010. Web. 07 Dec. 2015.
"Yahoo." Yahoo Image Search. N.p., n.d. Web. 07 Dec. 2015.
"China's Cosmetics Market." Brill’s New Pauly (n.d.): n. pag. Fung Business Intelligence Centre, Apr. 2014. Web.

Similar Documents

Premium Essay

Management Analysis

...Case Analysis of Case Study 3.1:   HY DAIRIES, INC Linda Sanchez MGMT 645 Organizational Development & Culture Dr. Laughron January 12, 2014 Apply your knowledge of stereotyping and social identity theory to explain what went wrong here. On first glance this case may appear as if Mr.Gilman has stereotyped Mr.Beauport. However, there does not appear any evidence of stereotyping throughout the case such as having a history of making racial slurs towards any ethnic group. Mr. Gilman’s decision in offering Ms. Beauport the marketing research coordinator’s position does not appear to contain malicious intentions behind it. On the contrary, he seems to be sincere in offering the position for future advancements within the company. Personal experience may have made Ms. Beauport jump to the conclusion that her employer would not accordingly promote her due to the color of her skin and gender. Society’s definition of racial and gender stereotyping is typically towards minorities, such as Latinos or African Americans, or females. This case does not easily follow the “typical” image of racial stereotyping. Some may argue that Ms. Beauport is stereotyping Mr. Gilman as a sexists and racists Caucasian man. Our textbook describes social identity is a way in which people define themselves by the groups to which they belong or have an emotional attachment (McShane & Von Glinow, 2013). It focuses on the different ways......

Words: 1214 - Pages: 5

Premium Essay

Management Analysis

...attack on the management strategy. Many successful organizations will remedy their success on the management strategies that they have managed to employ in the success of their business. Strategic management is the interpretation and presentation of management techniques and strategies by managers in utilization of resources, enhancing the external and internal environments and ensuring a company market share so as to maximize on profits. We shall evaluate the strategic management of Johnson and Johnson. Through the analysis, major market and business strategies of the company shall be evaluated with the current external and internal business environment. Table of Contents Johnson and Johnson Strategic Management Analysis 1 Contents 1 Chapter 1 3 1.1 Executive Summary 3 1.2 Scope of the Case Study 3 2.1 Company Background 4 2.2 Vision and Mission Statements 5 2.3 Strategies 6 3 TASK A: External Environment 8 3.1 Specific Environment 8 3.1.1 Porters Five Forces 8 Figure 1 9 3.2 Generic External Environment 12 3.2.1 Pestel Analysis 12 3.3 Impacts on the industry: Threats and Opportunities 13 4 TASK B: Internal Environment 16 4.1 J&J SWOT analysis 16 4.2 Summary of Strengths and Weaknesses 17 5 Financial Analysis 19 5.1 Profitability Ratio analysis 19 Liquidity Ratios 21 6 Data Analysis 22 7 Recommendations 23 References 25 Chapter 1 1.1 Executive Summary The strategic management analysis of......

Words: 4966 - Pages: 20

Free Essay

Technical Analysis and Risk Management

...Objective: The objective of this paper is to test whether the technical analysis indicator MACD is effective in real trading. We will use the S&P 500 Index as our samples, and our main idea is to find the average return and VaR when we buy at the time MACD shows a “golden cross” and sell at the time when there is a “death cross”. MACD: Before we do the test, let’s start to define the MACD as well as its components. MACD is one of the most popular indicators used in the technical analysis. And it is mainly comprised of MACD line, signal line, and the histogram. MACD line and the signal line are calculated by using the EMA (exponential moving average) function, while the histogram is the difference between the MACD line and signal line. MACD line is the difference between exponential moving averages of 12 day stock price and the exponential moving averages of 26 days stock price. The signal line is the exponential moving averages of 9 day MACD. (12, 26, 9) is the well-recognized moving average lengths used in the industry, but can be altered with other appropriate numbers.  MACD Line = EMA [stockprice, 12] – EMA [stockprice, 26]  Signal Line = EMA [MACD, 9]  Histogram = MACD Line – Signal Line In technical analysis, there is a basic rule to apply the MACD into practice, say when the MACD line up crosses the signal line, the stock price is expected to rise in the short term, while the MACD later on down crosses the signal line, the stock price may be expected to go......

Words: 943 - Pages: 4

Premium Essay

Budget Management Analysis

...Budget Management Analysis HCS/571 Financial Resource Management June 27, 2011 Dr. Lena Watson Budget Management Analysis Budget management analysis is used by mangers as a tool and helps determine that all resources available are being used efficiently. The budgets are determined yearly and are based upon the previous year’s budget and variances. This paper will discuss specific strategies to manage budgets within forecast, compare five to seven expense results with budget expectations, describe possible reasons for variances, give strategies to keep results aligned with expectations, recommend three benchmarking techniques, and identify those that might improve budget accuracy, and justify the choices made. Strategies to Manage Budgets Many strategies may be used to control budgets; managers and the chief financial officer of most healthcare organizations have the tools needed to manage the budget. By managing the budget the organization will be better prepared for the financial forecasts, which are the company’s future expenses. Some strategies and tools that will assist with managing the budget are zero based, activity based, performance based, cost variances and benchmarking. Zero based budgeting analyzes every expense within an organization and justifies the need and cost of each. Activity based costing is the gathering of the operating cost data, which is assigned to specific activities such as engineering. The performance dashboard uses the metrics of......

Words: 1406 - Pages: 6

Premium Essay

Management Theory Analysis

...Management Theory Analysis Management has been the back bone of the workforce industries. Management is the overall maintenance of an organization or people. The word management is the act or skill in managing an organization. There is no management without managers. Managers wear different hats in an organization depending on the tasks they are to manage. The word manager was defined in Webster’s Universal College Dictionary (p. 489) as “a person who manages an enterprise or one of its parts. A person who directs the activities of an organization or a group” (Webster's Universal College Dictionary, 2004). Mintzberg (2009) defines the manager as someone responsible for a whole organization or some identifiable part of it (Mintzberg, 2009). Managers see to the development of the organization and the people they work with. They are responsible for the growth, organizational culture, values, goals, and decision making of the organization. They are in charge of the operation and performances of the people they work with. Management theories helps managers in decision making, implementing plans, and accomplish their goals. There are different theories for each professional areas, and managers adopt a theory that fit their managerial style. Being able to analyze problem, identify the solution for the problem, and make the right decision is very crucial in managing an organization. This is why managers need the help of theorists and their theories in order to......

Words: 1187 - Pages: 5

Premium Essay

Budget Management Analysis

...Budget Management Analysis Budget management is an important concern for organizations, especially today with the economic strain on businesses. The strategies to manage budgets and possible variances will be addressed within the context of this paper. A comparison of five expense results with the budgetary expectations and reasons for possible variances will be presented. Benchmarking techniques that may improve budget accuracy in future forecasts will also be concentrated on within the body of information presented Managing a Budget within the Forecasts According to Finkler, Kovner, and Jones, (2007), organizations exercise control over operations through the use of a management control system. The determination of whether a business is able to appropriately budget for future expenses, economic downturns, and risks is critical in today’s economic crisis. The methods by which a budget is created are specific and take into consideration several factors that provide target, actual, and variance results. The strategies used to create a budget vary among industry, organization, department, and/or manager just to name a few. Budget variances, strategies, and benchmarking techniques are critical to the final budget formulated for a business. A budget is a way to assist managers to follow a set strategic plan to ensure resources are used to efficiently to achieve the goals and follow the mission of the organization. A budget provides estimates of revenue, expenditures...

Words: 1281 - Pages: 6

Premium Essay

Budget Management Analysis

...Budget management analysis is commonly used by mangers as a tool helping to make sure that all resources in existence get put to use correctly. The budgets are determined annually because they are determined by the preceding year’s budget and differences. Budgets can be controlled by specific techniques to control budgets within prediction, consider five to seven expense results with budget anticipations, explain possible factors that cause fluctuations, present ways to keep results associated with goals, share three benchmarking strategies, and consider the ones that could increase budget accuracy, and give good reason for the choices made. (Finkler, 2007) Several techniques are often used to regulate budgets; managers as well as the chief financial officer of nearly all health related agencies provide the techniques necessary to manage the budget. By balancing the budget the institution will likely be better organized for the financial guidelines, which are the company’s upcoming expenses. A few techniques that can improve balancing the budget are zero based, activity based, performance based, cost fluctuations and benchmarking. Zero based budgeting examines each individual expense within a business and justifies the necessity and expense of each. Activity based pricing is the accumulation of the operating cost records, which is also assigned to individual programs which include engineering. The performance dashboard applies the metrics of functioning and examines the......

Words: 1455 - Pages: 6

Premium Essay

Data Management and Analysis

...Data Management and Analysis Analysis the report, it is clear seen that the Data management and analysis methods used is a quantitative comparative descriptive design. Ford, B. (2010) took very careful steps to maintain the rigor and control of their data collection. The author used a statistic software design. She developed her idea into two representative graphs in which she compared call light usage before initiation of hourly rounding, and call light usage after the initiation of hourly rounding. With is in compliance with the objective described by the hypotheses developed in this study. Hourly rounding improves patient satisfactory score. Narrative descriptive also uses to confirm their finding. For a pilot study, one thinks that the sample size was adequate. A sample made of 51 patients, 29 females, 22 males a long with a randomly selected control group is used for that study. Although the researcher did not explain how the data were entered into the computer one assume that it was entered to promote accuracy and to reduce the possibility and effect of bias. In summary this pilot study shows that Ford, B. (2010) provide evidence to suggest that hourly rounding increase patient outcome with is benefited to nursing practice. The author took time to focus on the significant problem, she explains how the data was collected, and the diagram shows the percentage of error and the frequency of the variable. The study’s strengths and weakness is clearly defined. The author......

Words: 356 - Pages: 2

Premium Essay

Organization and Management Analysis

...Organization and Management Analysis By Bianca Andrews Course: HCS/514 March 23, 2014 Professor Samantha Bame Introduction Most, if not all, companies are made up of organizations. As an organization, it consists of people who are structured and managed with a specific purpose. That purpose is to create and achieve one or more specific goals as a whole. The people within the organization all play a different role that helps to meet the goals that are set for them individually and as a whole. Each organization’s practices come from various theories that help to explain their structure, behavior, and function of these organizations. These theories consist of classical, neo-classical, and modern. Organizational Theories Classical Organization Theory The classical organizational theory was created back in the twentieth century during the beginning of the Industrial Revolution. The classical theory was created from the ideas of Frederick Taylor and Max Weber. They were the ones to establish the foundation of the classical theory. This theory focuses on bringing together scientific management, bureaucratic and administrative theory. These theories focus on putting production first and the workers second (Broad, 2009). Frederick Taylor went more for the scientific management approach. This approach is one that looks more and what can increase productivity based on what is needed. It did not take into consideration how the workers felt about their work and......

Words: 1464 - Pages: 6

Premium Essay

The Patterns of Management Analysis

...MANAGEMENT PRINCIPLES AND PRACTICE Unit I Management: Science, Theory and Practice - The Evolution of Management Thought and the Patterns of Management Analysis - Management and Society: The External environment, Social Responsibility and Ethics - Global and Comparative Management - The Basis of Global Management. Unit II The Nature and Purpose of Planning - Objectives - Strategies, Policies and Planning Premises - Decision Making - Global Planning. Unit III The Nature of Organizing and Entrepreneuring - Organizational Structure: Departmentation - Line/Staff Authority and Decentralization - Effective Organizing and Organizational Culture -Global Organizing. Unit IV Co-ordination functions in Organization - Human Factors and Motivation - Leadership - Committees and group Decision Making - Communication - Global Leading. Unit V The System and Process of Controlling - Control Techniques and Information Technology - Productivity and Operations Management - Overall Control and toward the Future through Preventive Control - Global Controlling and Global Challenges. References : 1. Koontz &Weirich, Essentials of Management, Tata McGraw Hill. 2. VSP Rao, V Hari Krishna – Management: Text and Cases, Excel Books, I Edition, 2004 3. Stoner &Wankai, Management, PHI. 4. Robert Krcitner, Management, ATTBS. 5. Weirich& Koontz, Management - A Global perspective, McGraw Hill. 6. Helliregarl, Management, Thomson Learning, 2002. 7. Robbins.S...

Words: 47170 - Pages: 189

Premium Essay

Analysis of Management Theories

...Analysis of Management Theories Vanessa Goins Grand Canyon University LDR-620 Professor Barry Adkins November 20, 2013 The historical theory that I believe is the most likely to be the most universal and applicable in today’s business environment is the humanistic perspective. It has remained the most prevalent from the 1950’s until today (Daft, 2010).It focuses on the positive of what it means to be human. The humanistic perspective, it is an approach that calls for the human’s rights and equality, emphasizes empathy and it stresses the good in a person’s behavior. At a place of employment, sensitivity training is an example of the humanistic perspective and this is where an individual or individuals are taught to view their coworkers as having the same desire and needs just like themselves. Another example of the humanistic perspective is for that individual to be able to focus on their strengths rather than their own faults. In the human perspective, the individual is encouraged not to look past his or her flaws as that individual works toward a more satisfied and completed life. Some positive aspects of human perspective are encouragement of individuals, not allowing their past affect their present and focus on what is really important now rather than anything else like their strengths and their goals that they want to accomplish. It allows the strengthening of relationships and it believes that a person seeks value, being creative, and having a meaning or purpose...

Words: 539 - Pages: 3

Premium Essay

Project Management Analysis

...Name: Hrushikesh S Datar ID: 10320626 Assignment: Project management analysis report. Introduction: Project management is an important department in an organisation. Project manager is a sort of connecting link between senior and junior level management. A project management means a process of planning, managing resources and working together to achieve a common goal. Furthermore, Project management includes five steps of system development life cycle i.e. initiation, planning, controlling, closing and development. (Project_management) Definitions: A project management can be defined as “A process of planning, monitoring, control and reviewing projects by using principles and techniques.” ( “A phenomenon where definition, control, planning, deployment and monitoring comes together to get a common benefits is known as project management.” (Definitions.asp) “A project management is a summation of all models and methodologies which needs individual task completion.” ( PMBOK categories for effective project management: A project undertaken by well known university in New Zealand is to design and develop complaint management system for students in a university. Project Overview: A university is developing online complaint management system in which students can lodge their complaints on a portal created by university and connected to the website of......

Words: 1722 - Pages: 7

Premium Essay

Management Control Analysis

...- Part 1 Management control analysis on the “Celebrity Chef Dining” project. By Zsuzsanna Szekrenyi, 12/2013 ZSUZSANNA SZEKRENYI 1. Executive Summary The following document is applying the “Management Control Loop” theory to analyze the introduction of the “Celebrity Dish Dining” program at a five star airline. The aim was to improve brand recognition and help differentiation. The project was considered to be a success, however not everything went as smoothly as it would have been possible if all steps described in the “Management Control Loop” would have been applied. The document is focusing on presenting the executed steps, the expected and resulted outcome, closing the discussion with recommendations for improvements for future projects. Page 2/12 ZSUZSANNA SZEKRENYI Table of Contents 1. Executive Summary..........................................................................................................................2 1. Introduction......................................................................................................................................4 2. Analysis and conclusions..................................................................................................................5 2.1 Stage 1 – Set objectives.............................................................................................................5 2.2 Stage 2 – Plan, identify markers and carry out tasks..................................

Words: 2268 - Pages: 10

Premium Essay

Quantitative Analysis for Management Chapter 4

...REVISED M04_REND6289_10_IM_C04.QXD 5/7/08 2:49 PM Page 46 C H A P T E R Regression Models 4 15 9 40 20 25 25 15 35 6 4 16 6 13 9 10 16 TEACHING SUGGESTIONS Teaching Suggestion 4.1: Which Is the Independent Variable? We find that students are often confused about which variable is independent and which is dependent in a regression model. For example, in Triple A’s problem, clarify which variable is X and which is Y. Emphasize that the dependent variable (Y ) is what we are trying to predict based on the value of the independent (X) variable. Use examples such as the time required to drive to a store and the distance traveled, the totals number of units sold and the selling price of a product, and the cost of a computer and the processor speed. Teaching Suggestion 4.2: Statistical Correlation Does Not Always Mean Causality. Students should understand that a high R2 doesn’t always mean one variable will be a good predictor of the other. Explain that skirt lengths and stock market prices may be correlated, but raising one doesn’t necessarily mean the other will go up or down. An interesting study indicated that, over a 10-year period, the salaries of college professors were highly correlated to the dollar sales volume of alcoholic beverages (both were actually correlated with inflation). Teaching Suggestion 4.3: Give students a set of data and have them plot the data and manually draw a line through the data. A discussion of which line is “best” can help them......

Words: 3989 - Pages: 16

Premium Essay

IT Management System Analysis

...Introduction IT Management System is a relevant and influential tool that has seen significant changes and development in the past two decades, it has influenced the way data is collected and handled as indicated by the number of IT business related firms, and enterprises that use and benefit from its opportunities ( Parsaye K. and Chignell M. 1993). It is a business function, like accounting and human resources , which moves information about people, products , and processes across the company to facilitate decision making and problem solving ( Baltzan P. 2012). It is more accurate in data research by making better analyses possible with an unlimited list of software available (David K. and Lyman R. 1996). The Purpose of this review is...

Words: 1116 - Pages: 5