...1. Outline the major benefits of implementing a succession management process. (10 marks)A major benefit of a succession plan is continuity of leadership. Organizations that develop leaders from the ranks of current employees are more likely to stick to their missions and manage new challenges. These developing leaders have the opportunity to experience many aspects of the business as they advance. They may bring new ideas to business processes that they may soon be in charge of, while learning the wisdom of those who are currently in control.Financial stability is benefit of succession planning, it can create a stronger and more loyal group of future managers and executives, thus saving the company's recruiting and hiring costs over the long-term. It helps with coping with the effects of downsizing, terminating workers without damaging the organization and reducing headcount to the essential workers only.Reputation is benefit of a succession plan. When employees and those outside the organization realize that a succession plan is in place, they are more likely to have confidence in the organization because they know the company is well-organized and ready for the future. Organizations with succession plans offer key employees training opportunities and help them understand their potential career. A succession plan is a good recruiting tool, because it will attract high-achieving employees who appreciate knowing where their careers may lead them. As organizations and company...
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...Time Management is a very important aspect of life. Once you learn to properly manage your time, you will be able to accomplish a lot more in a typical day. Your life will become less stressful since you will be able focus on the things which are most important to you rather than things that are considered unimportant. Unimportant things tend to just waste your precious time (Hearn, 1)) Since our lives only consist of 24 hours, we need to be able to plan and schedule things that need to be done efficiently. In order to make an effective schedule, it is important to know what needs to be done and where we need to be. As stated by Wendy Hearn (1999-2011), “Time management is about you and how you would like to spend it.” Our daily activities need to be prioritized. We need to decide what is important to us not to others. This will make our lives more productive and a lot less stressful. You will even start to feel more in control of your life. Time Management is going to change you life for the better. Decide on a plan and label the things that you need done by the four D’s of time management. These are Do it, Delegate it, Dump it, and defer it. Everything on your to do list can be classified under one of these labels(Hearn, p.2). A poorly planed schedule will waste your time so, be careful when categorizing your daily tasks. “Make sure to write down all appointments, get together, and meetings and try your best to finish all important task immediately to avoid...
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...Communications, Sixth Edition, 2009, p. 58). The corporation will have to decide whether they require a LAN, Local Area Network, if the corporation only needs their network to share resources within a building, (Local Area Network Technologies, 2012). The corporation may want to use MAN, Metropolitan Area Network, if they have multiple building that need to share a network. An example would be a college campus. (Metropolitan Area Network, 2012). The information requirement of management leads us to the three points of the initial roll out phase and network security. The points of initial roll out are plan, analyze, and implementation. (eWeek, 2004). The first point of initial roll out is plan. The planning process is a very critical part of the roll out process. During the planning point, this is where the developers have to take in consideration the growth and acceleration of the computer industry and how this growth effects the computing and information service needs for large corporations. The corporate computing world demands environments that “ uses client/server computing with intelligent graphical desktops and workstations, which communicate with local and divisional personal computing with intelligent, graphical desktops and workstations,” (Microsoft Tech Net, 2012). These workstation need to also be able to communicate with the...
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...Management Planning National Beverage Corp University of Phoenix MGT/330 Jacqueline Lester December 20, 2010 National Beverage Corp is a regional bottling company located in the United States. Some of their products are Shasta, Faygo, Ohana, and Everfresh. National Beverage Corp’s products are available at convenience stores, supermarkets, and other retail stores. The company has a management planning function that is affected by ethical policies, social responsibility, legal issues, and many other factors. The meaning of ethical conduct is not completely clear in the business world. In numerous cases, business philosophy says that people should conduct themselves in a manner above criticism. It is very important that all employees of National Beverage Corp conduct their business affairs in an appropriate behavior. Ethical conduct is essential to ensure triumphant, continued business relations. The laws of National Beverage Corp are observed to make sure that they have the highest ethical standards. If a person is uncertain about a problem, it is very important to seek help. The problem is discussed with management, and then it is resolved. The business conduct policy is not always built on hard set rules but instead offers some common sense used in day-to-day business life. NBC employees are informed that they have to be aware of anything that could cause them to engage in unethical actions...
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...Educational Development Plan To complete this plan, refer to the three University Orientation Seminar Readiness Center reports you received and used in the UOS1500 seminar courseroom. Using the results of those reports, along with your personal preferences and goals, identify three areas of strength and list them in the table provided below. Readiness Areas: • Technical Readiness. • Online Learning. • Online Communication. • Time Management. • Goals and Motivation. • Building a Support Network. • Learning Strategies. • Writing Strategies. • Information Literacy. Areas of Strength |1. Technical Readiness | |2. Learning Strategies | |3. Building a Support Network | Now follow the same process to identify three areas in which you would like to improve your knowledge and skills. For each of the areas, specify a short-term, specific goal: something you will accomplish that will improve your performance or knowledge in this area. Enter that goal, then a brief description of how you will achieve your goal. If there were resources identified in this seminar, or...
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...inventory and above/below the line adjustments to gross margin, receipts and inventory. Plans are usually developed in value with average unit retail prices for inventory, receipt and sales added to understand unit volumes at a high level. The sales flavors regular, markdown, promotional and clearance sales KPIs are planned individually including the average retail price of the sales type. In-season plan updates recalculate open-to-buy budgets based on trend. With that the analysis of business trends to identify variances to plan are possible on a weekly basis and allow stakeholders to take action. Merchandise Planning – OTB and Unit Flow Plan The merchandise Planning includes several workbooks for the different levels of the article hierarchy. The workbooks look very similar, but addressing different roles in the organization, like VP of Planning, Planning manager, merchandise manager, or however your organization is set up. One very nice feature is, that the solution provides you flexibility depending on your set-up, if you have planners for all the different levels (you remember: division, department, class and subclass), or if you just want to plan for example on division and break it down from there to class and subclass. All workbooks consist of two worksheets – one for open-to-buy plan and a second one for the unit flow plan based on average unit...
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...It was recognized early in the development of the ICS that the critical factor of adequate planning for incident operations was often overlooked or not given enough emphasis. This resulted in poor use of resource, inappropriate strategies and tactics, safety problems, higher incident costs, and lower effectiveness. Planning involves evaluating the situation, developing incident objectives, selecting a strategy, and deciding which resources should be used to achieve the objectives in the safest, most efficient and cost-effective manner. The primary phases of the planning process are essentially the same for the Incident Commander who develops the initial plan. For the Incident Commander and Operations Section Chief revising the initial plan for extended operations, and for the incident management team developing a formal IAP, each following a similar process. During the initial stages of incident management , planners must develop a simple plan that can be communicated through concise verbal briefings. Frequently, this plan must be developed very quickly and with incomplete situation information. As the incident management effort evolves over time, additional lead time, staff, information system, and technologies enable more detailed planning and cataloging of events and lesson learned. In my opinion the planning process is the most helpful in the Subdivisions of the ICS chart. During any incident it is important to always have something planned before anything ever happens...
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...Universities would be an effective and affordable approach. Apple also will have its fair share of direct applicants, considering the fact that it is very trendy and appeals to all consumers. As stated in the NY times, it has "cast a spell" on consumers and investors. When visiting Apple's website for careers, the page is appealing and full of promise for not just any job, but a career. Apple is a company that is going to always stay on the frontier of new ideas. In order to do this, it is important to stay fresh with new perspectives and ideas. With this being the case, Apple would want to not only source their talent from internal sources such as referrals or all internal promotions. It is important to show growth and have succession planning in any company, but it should not be the sole source of growth as it might limit new ideas and innovations from coming to the table from outside experiences. Recruiter traits and behaviors that would lead to a successful recruiting campaign for Apple Recruiters for Apple would have to have both the talent of being warm, welcoming, trendy, innovative as well as specialists in the Apple product, culture and mission. In order for Apple to attract the best talent, they have to have the best talent looking for them. The product Apple has a certain appeal and when one goes to an Apple store or an Apple table at a job fair, there is a certain expectation that the person you are going to be talking with, is just as trendy as...
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...of the personal potential according with the values, world view and outlook of the person. We consider the mission of the human being as a prerequisite for the formation of the purposes, goals - as a subject for equipment with criteria, values - as a basis for prioritization, and thirst for self-development - as the primary motivator. Of course, according to Van Eerde (2003), it can be stated that the one who does nothing needs no discipline. Therefore, the more we have plans, desires, goals and intentions, the more we feel the need for time management. The more interesting and richer life of a man is, the more necessary is an organization, a reasonable allocation of time during the entire set of cases and duties. Thus, discipline, planning, ability to make a schedule and stick to it - all of this is not an end in itself because these concept can be considered the tools with which help the person to carry out his goals, and achieve...
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...Contingency planning: Contingency planning helps to identify alternative course of action to take when things go wrong. Developing a contingency plan involves making decisions in advance about the management of human and financial resources, coordination and communications procedures, and being aware of a range of technical and logistical responses. Such planning is a management tool, involving all sectors, which can help ensure timely and effective provision of humanitarian aid to those most in need when a disaster occurs. Time spent in contingency planning equals time saved when a disaster occurs. Effective contingency planning should lead to timely and effective disaster-relief operations. The contingency planning process that PRAN follows can basically be broken down into three simple questions: • What is going to happen? • What are we going to do about it? • What can we do ahead of time to get prepared? When forecast are available and premises are established, a number of alternative course of actions have to be considered. For this purpose, each and every alternative will be evaluated by weighing its pros and cons in the light of resources available and requirements of the organization. The merits, demerits as well as the consequences of each alternative must be examined before the choice is being made. After objective and scientific evaluation, the best alternative is chosen. Managers of PRAN always surf the market to avoid vacuum in Market in...
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...your business venture and informs your decision-making. The following guides offer tips that will help you research and develop a winning plan. Essential Elements of a Good Business Plan What are the key elements of a business plan? From market analysis to your company financials, this guide walks you through the essential components of your plan, including how to develop a funding request. Finding a Niche: Make Your Business Plan Stand Out One of the first steps in the business planning process is determining who your target market is and why they would want to buy from you. Is the market you serve the best one for your product or service? Are your business benefits clear and aligned with the needs of your target customers? This guide can help. Guide For Writing a Business Plan What goes into a business plan? This guide will assist you as you write your plan. Additional Resources Learn more about the importance of business planning, the components of a business plan, and access sample plans in this self-paced online training course: How to Prepare a Business Plan. SBA has developed several podcasts that discuss the fundamentals of starting a business including Creating a Business Plan and Making Your Business Plan Work for...
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...Project Task-list 7/1/2012 CMGT/410 Prof Lucas U.S. Immigration Customs Enforcement Stats Database The new database that is being developed and implemented into the U.S. Immigration Customs Enforcements offices will require some training and hands on practical application. This training is intended for each one of the shift supervisors from each one of the hubs around the U.S. and because of the short timeline of this project; the training will need to be conducted over two day span at one centralized location. In order to make something like this happen and for the Managers from each shift to get as must out of the training as they can this will take a lot of preplanning and a well-executed agenda that is backed by a long list of resources. Below is a list of the resources and their responsibilities to this project. * Project Management Team. * Determent the site for the training. * Ensure that there are adequate resources at this location; a training room to hold to amount of people that will be there and rooms for the managers to stay in. * Determine what local resources will need to be on site during the training like IT, HR, etc. * Disperse this information to each one of the HR departments at each ICE Hub. * Prepare a training schedule. * Get the training schedule approved by Head Quarters. * The HR Department: * Put together the list of shift supervisors. * Provide that list to; the Project Management...
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...Financial Forecasting Financial forecasting can be a difficult thing for anyone to do unless they have enough information that they can devise a good business plan. When a company is just starting out they should have a realistic sales goal along with a realistic EBIT goal in order to project an achievable business plan. Even a company that has been around for many years should have a realistic financial forecast. When this type of company has some financial history they able to review this information and then they would be able to have a good financial forecasting based on history and then factoring in the economy this forecast should be achievable. Any size company from the smallest family owned company to the nationally traded large corporation should have a business plan or forecast. Whether they are just starting out or have been around for hundreds of years it is important to forecast or to plan for the business. This way they are able to judge how well that company is doing. Most companies review their forecast and make adjustments every quarter. After they have either made the adjustments or left the forecast the same; they if they are a company with stock holders would then give this information to their board of directors and announce their results to their public stockholders. If a company’s forecast is done well they would only have to make minor adjustments to their original forecast. But if the forecast is not done realistically then there could be issues...
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...Budgeting Time An important part of being a successful student is being able to manage your time effectively. Poor time management can often lead to stress, whereas good time management can help you achieve your goals, allocate time for yourself and feel in control of your life. In order to make your goals achievable, it can be helpful to plan or map out your semester, week, and/or day Good budgeting time is essential to success at university. Planning your time allows you to spread your work over a Semester, avoid a 'traffic jam' of work, and cope with study stress. Many deadlines for university work occur at the same time, and unless you plan ahead, you'll find it impossible to manage. To meet the demands of study you need to spread your workload over a Semester. Work out what needs to be done and when. Work out how to use your available time as efficiently as possible. Effective budgeting time is an essential component of the independent study. Time management is an important role for students of all ages. From studying for school to being an adult and working at a job, time management skills are essential to becoming successful in any profession. It has been proven, those who manage their time well whether in school, work, or exercise, get many tasks done without fail. Effectively prioritizing your day is the key to a successful one. Most college students learn very quickly the value of their time when they’re struggling to balance work, school and a social life. With...
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...“Budgeting is a key component in management short and long term planning” I agreed that budgeting is important to management short and long term planning. Budgeting is important to management as it helps people on making decision whether they have enough money to progress through to the next step of planning, expanding the business and earning profit for themselves. If budgeting or planning doesn’t exist in management, there is a risk on business spending more money than earning it, in other words, not spending enough money to expand the business and stay on competitive level. Budgeting is also helpful in planning the years ahead. For example if a company are planning to purchase a new product, budgeting may help to decide whether how much money are needed to spend. All these planning takes time and money, so budgeting is a key component here by acting as a timetable on when the money is needed, how much amount is needed and what results to expect as the money and effort have been use on whether the company is making any profit. Budgeting is an important planning tool, as other planning strategy such as marketing expenditures or salary levels failure to compromise it will affect the company planning term. So every decision must be well plan and decide to meet the objectives in order for the company to be successful. A budget also helps to keep track on the business whether the company is earning profit and making any necessary changes if needed. If a new business doesn’t...
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