The Advantages and Risks of Online Shopping Essay

The Information revolution is changing our daily lives. With the rapid development of computer and internet, online commerce become quite common and plays an important role in the modern world. The online business has booming development in these few years. US online retail sales raised an average of 11% in the first three months of 2009 (â€Å"US Online Sales Up,† 2009). The growth of online sales may due to the growing number of consumers who shop online. In the case of Asia, survey reported 77.6% of Internet users have online shopping experiences in 2003 (as cited in To, Liao Lin, 2007). Online shopping is very different from traditional shopping. Consumers cannot touch and check the product before purchasing it, which means they are at†¦show more content†¦While in the internet, consumers can use online tools to compare product price and features. It takes less effort for consumers to make better decisions. Another advantage of online shopping is it is enjoyable and fun. According to Wolfinbarger (n. d.), many consumers find enjoyment through shopping online. They even like to visit and browse the shopping websites although they do not have something want to buy in mind. Some advantages of online shopping are presented. Those advantages may relate to consumer’s motivation to shop online. The starting point of motivation is needs. Needs can be classified into the utilitarian needs and the hedonic needs. The utilitarian needs are in the practical side. For example, the needs of basic foods and cloths are utilitarian needs. They are the survival need. Hedonic needs can be regard as on the opposite side of utilitarian needs. They are in the pleasurable side. The needs of purchasing of fashion wear, cosmetics and expensive sport car can all be classified into hedonic needs. Shopping motivation in utilitarian dimension is mission critical, rational and goal oriented while in hedonic dimension is for enjoyment and happiness. In the case of online shopping, research suggested that consumers’ motivations to shop online include both utilitarian and hedonic dimensions (Childers, Carr, Peck Carson. 2001). Consumers may view utilitarian shopping is as a taskShow MoreRelatedAn Investigation Of Online Shopping1621 Words   |  7 PagesIntroduction: An investigation of online shopping and how does it influence NTIC students’ daily life. Observations have shown that there has been a rapid development in an economic world. We have witnessed a tremendous change about shopping online. According to UCLA Center for Communication Policy (2001), online shopping has been regarded as the third most prevalent activity on the Internet, only followed by e-mail and website usage. It plays an important role, not only in retail stores, but alsoRead MoreOnline vs Brick and Mortar844 Words   |  4 PagesJacobie COM170 10/27/2014 Laura L. Dorsey Online vs. Brick-and-Mortar Shopping One of the opportunities we have in today’s world is whether to buy online or go to a brick and mortar store to do our purchasing. The two offer great sales and promotions along with selections from which we can choose. As online shopping and brick and mortar may seem similar; however, both differ in pricing, convenience and selection. Discounts are offered both online and in store which makes it easy for theRead MoreConsumer Attitude : An Organization Of Motivational, Emotional, Perceptual And Cognitive Processes1519 Words   |  7 Pagesdecision process. Consumer attitude with regards to online shopping depends on the direct effects of relevant online shopping features. Online shopping features can be classified into consumer’s perceptions of functional and utilitarian dimensions such as â€Å"ease of use† and â€Å"usefulness†, or into their perceptions of emotional and hedonic dimensions like â€Å"enjoyment†. Online Shopping With the development of Internet and web-based technologies, online customers are gradually obtaining unlimited accessesRead MoreOnline Shopping: Risks and Benefits1417 Words   |  6 PagesOnline Shopping: Risks and Benefits There has long been a need for the consumer to purchase goods without ever having to leave their home. The industry started with mail order catalogs such as Sears Roebuck that offered consumers the convenience to order goods without having to travel a long distance to see what was available. The catalog offered everything from clothing to toys, and even farming equipment that made it easier for early American families to purchase goods without having to travelRead MoreTraditional Shopping vs Online Shopping1557 Words   |  7 Pages1. Traditional and online shopping environment In the traditional shopping, one has to leave home, either walk or take a ride to a particular location in order to buy what one wants. There are many ways of traditional shopping such like shopping at shopping center, outlet village, markets or department stores. However, online shopping has been developing at a fast rate through recent years and more and more people are moving towards this mode of shopping. The online shopping is typically done atRead MoreAdvantages and Disadvantages of Shopping Online1600 Words   |  7 PagesAdvantages [edit] Convenience Online stores are usually available 24 hours a day, and many consumers have Internet access both at work and at home. Other establishments such as internet cafes and schools provide access as well. A visit to a conventional retail store requires travel and must take place during business hours. In the event of a problem with the item – it is not what the consumer ordered, or it is not what they expected – consumers are concerned with the ease with which they can returnRead MoreE Shopping- What We Get And What We Miss. Internet Technology977 Words   |  4 PagesE shopping- what we get and what we miss Internet technology had become quite popular in recent years. Whether it is for any professional use or any personal use, everyone uses internet technology. Due to this rapid growth of technology business organisations have switched over from traditional method of selling goods to electronic method. In recent years the online shopping industry has absolutely exploded and there are now such people who are buying online and just forgot what traditional marketRead MoreUpscale Markets-Value Creation In A Mature Industry Essay1304 Words   |  6 Pagesbuild an online store to seek further growing profit. Upscale Markets was a seven-store local grocery chain in Dallas, TX. Ives was inspired by the huge success of a virtual store project in subways running by Tesco named Home Plus in Korea. They showed the products visually by using monitor in subways and allowed people purchased items and got delivered by simply using their phone to scan the QR code under the item. Ives gave a call to his friend who was enjoyed online grocery shopping for a fewRead MoreAdvantages And Disadvantages Of Online Shopping1018 Words   |  5 PagesThe online shopping trend is becoming increasingly popular. People nowadays can get everything they need online, such as clothes, books, groceries, etc. Online s hopping is a new type of technology trend that people are getting addicted to because it makes people’s life easier and saves them time. Shoppers can visit web stores from the comfort of their own home and shop while they are sitting in front of their computer. Many online shoppers do not have to waste time on shopping anymore. Online shoppingRead MoreOnline Shopping : Developing Countries1017 Words   |  5 Pagestransformed how retailers and buyers meet at the market place through physical and online purchases, distribution of products and services(Bashir, 2013). Although deemed to be a familiar channel for success and growth in developed countries, online shopping is still considered an innovation in developing countries like Tanzania (Mlelwa, 2015; Zaied, 2012) According to Katawetawaraks Wang(2011) online shopping has facilitated the presence of many foreign companies looking to boost their brand

Workplace Bullying Can Take On Many Forms. Lateral Violence

Workplace bullying can take on many forms. Lateral violence among nurses is a common example of workplace mistreatment, which affects individual nurses, patient’s care, and the ethical climate of an organization. In 2008, The Joint Commission released a sentinel alert addressing lateral violence, stating, â€Å"Intimidating and disruptive behaviors can foster medical errors, contribute to poor patient satisfaction and to preventable adverse outcomes, increase the cost of care, and cause qualified clinicians, administrators and managers to seek new positions in more professional environments† (Joint Commission, 2008). In this brief, ethical issues related to lateral violence are described with two approaches to solving this issue examined.†¦show more content†¦The code emphasizes a standard of conduct that prohibits nurses from harassment or intimidating behavior with the expectation that nurses value the unique contributions to care that their coworkers provide . Second, nurses are expected to collaborate with their fellow coworkers due to the complexity of the health care delivery system (ANA, 2001). Disruptive behaviors interfere significantly with nurses’ intra-professional cooperation and multidisciplinary partnership. Addressing workplace bullying is a complex issue. Two recommendations along with their respective strengths and weaknesses are outlined below. First develop a set of no tolerance policies and procedures that strictly enforces the standards and codes of conduct of nurses. The policy should be developed from the bottom up with nurses having input in setting up the processes for reporting, documentation, and punitive actions. Involving the nurses, as key stakeholders will enable the policy to be effective and tailored to their needs. The key strength in this recommendation is the incidence of these types of disruptive behaviors would decrease. Additionally, individuals would have a system set in place where they cou ld anonymously report their grievances. However a weakness would be that unless the organizational culture is present in where victimized nurses feel safe enough to report, there will be a low number ofShow MoreRelatedThe Effects Of Lateral Violence On The Workplace1159 Words   |  5 Pageswithin many professions in today’s society. Often referred to as lateral violence, this occurrence is no exception in the nursing profession. It is also known as ‘horizontal violence’ or ‘workplace bullying (Coursey, Rodriguez, Dieckmann, Austin, 2013). In this evidenced-based paper, information will be provided in an effort to identify causes of lateral violence in the workplace and how to encourage civility. Lateral violence is defined as acts that occur between colleagues wherein, bullying isRead MoreCivility And Lateral Violence Within Nursing1068 Words   |  5 PagesCivility and Lateral Violence in Nursing Civility in the work place, or the lack thereof, has been identified as a growing problem within many professions in today’s society. Often referred to as lateral violence, this occurrence is no exception in the nursing profession. It is also known as ‘horizontal violence’ or ‘workplace bullying (Coursey, Rodriguez, Dieckmann, Austin, 2013). In this evidenced-based paper, information will be provided in an effort to identify causes of lateral violence in theRead MoreBullying And The Nursing World : What Is It? Who Is Affected? How Do We Fix It1721 Words   |  7 PagesBullying in the Nursing World: What is It? Who is Affected? How Do We Fix It? Of all professions, nursing has been consistently ranked as the most honest and ethical of all professions polled. In fact, this year our profession was ranked the most honest and ethical for the thirteenth year in a row (Sachs Jones, 2014). But for our consistent rankings, there is a quiet festering problem that has been growing among us; a problem that has largely been disregarded as too infrequent to worry aboutRead MoreWhat Is Lateral Violence Within The Nursing Profession?1690 Words   |  7 Pagesthat many current and future nurses expect to be incorporated within their working environment. It is not unusual for nurses to work as a team with other health care professionals as well as one another to provide the best care for a patient. Therefore, one would think that a primary goal among nurses would in fact be collaboration. Yet, as a general step towards attacking all types of violence, many researchers have exposed violence in the healthcare setting. Also referred to as wo rkplace bullyingRead MoreWhat Are Lateral Violence?2018 Words   |  9 PagesWhat is Lateral Violence? A major issue in nursing among employees is lateral violence and bullying in the workplace. Lateral violence, also known as horizontal violence, is a deliberate act to an individual from one employee to another in which gossip, bullying, and spiteful talk is occurring. The act of lateral violence can come from another employee who may or may not be at the same level as the other. Studies have shown that there is a 44% to 85% rise in nurses that fall into being a victimRead MoreBullying At The Nursing Profession845 Words   |  4 Pages Bullying in the Nursing Profession Carli Jessop Flathead Valley Community College Bullying is a term that many associate with children and while this has been recognized as a serious issue in schools across the country, such conduct unfortunately does not stop there. It has been said that nurses eat their young and while this may sound particularly extreme, bullying as well as lateral and vertical violence in the nursing profession has been an ongoing and increasingly prevalent issueRead MoreHorizontal Violence And Its Effects On Nursing1656 Words   |  7 PagesHorizontal Violence: A Detriment to Nursing Typically, when someone thinks of a bully, childhood memories of scuffles on the playground come to mind. Bullies are not usually people that are associated with adult life. However, nursing has changed this stereotypical view. For many nurses, bullying may be as great a threat every day at work as it was when they were in grade school. This threat is because of what is termed as horizontal or lateral violence in the workplace, and it is a surprisinglyRead MoreWorkplace Bullying And Its Impact On The Nursing Profession1421 Words   |  6 PagesWorkplace bullying is a growing problem in the American workplace and the Nursing Profession no exception. Addressing workplace bullying and its impact on the nursing profession is paramount to upholding patient safety and decreasing nursing attrition rates. Defining the problem is the first step in addressing it. In the past, workplace bullying was referred to as â€Å"Nurses eating their young.† There are many names for the va rious levels of workplace bullying like horizontal and lateral violenceRead MoreHorizontal Violence And Its Effects On Nursing1942 Words   |  8 PagesHorizontal Violence: A Detriment to Nursing Typically, when someone thinks of a bully, childhood memories of scuffles on the playground come to mind. Bullies are not usually people that are associated with adult life. However, nursing has changed this stereotypical view. For many nurses, bullying may be as great a threat every day at work as it was when they were in grade school. This threat is because of what is termed as horizontal or lateral violence in the workplace, and it is a surprisinglyRead MoreEssay on Intimidation of Nurses in the Workplace1894 Words   |  8 Pagesand future research possibilities regarding the topic of intimidation. Definition of Intimidation Intimidation is a form of bullying. Forms of intimidation can be behavior that belittles such as being shouted at or the use of profanities, and wrongly assigning blame (Edwards, 2007). Intimidation in the healthcare field among and between practitioners is most commonly in the form of verbal abuse. Verbal abuse may be an angry tone of voice, yelling and screaming, threats against a person or institution

Role of U.S. Financial System Essay Example For Students

Role of U.S. Financial System Essay Rachel Vishnevsky University of Phoenix Cindy BayerOctober 29, 2006Managerial Finance FIN 475The U.S. financial marketplace consists of borrowing,lending,investing, and management of assets and liabilities. The following articlewill discuss various financial markets and how the Federal Reserve ismonitoring their economic standing on a quarterly and annually basis. Thenecessity of investment bankers and sources of capital available tocorporations will be addressed. Finally, raising short-term and long-termcapital will be conferred. Financial Market consists of various sectors: households and nonprofitorganizations, nonfinancial business, state and local governments, federalgovernment, foreign market places, monetary authority, commercial banking,savings institutions, credit unions, property-casualty insurance companies,life insurance companies, private pension funds, state and local governmentemployee retirement funds, federal government retirement funds, moneymarket mutual funds, mutual funds, closed-end and exchange-traded funds,government-sponsored enterprises, agency and GSE- backed mortgage pools,issuers of Asset-Baked Securities,Financecompanies,realestateinvestment trust, security brokers and dealers, and funding corporations. These various sectors are quarterly and annually reported on through theFlow of Funds issued by the Federal Reserve and considered to be most in-depth data available on the financial markets economic standing. Investment Bankers role is the representative ofafinancialorganization that is in business for earning revenue for corporations. Investment bankers roles consist of advising clients, dealing with bonds,mergers, and the sale of stock. Financial analysis is the foundation ofinvestment bankers. Sources of capital available to corporations fall into two categories:equity financing, and debt financing. Equity financing is the investment ofrevenue for exchange of part ownership. Debt financing is borrowing torepay with interest. Commercial banks, commercial financecompanies,leasing companies, and state and local government lending programs allprovide for debt financing. Sources for equity capital consist of privateinvestors, institutional venture- capital firms, mergers and acquisitions,strategic investors and corporate venture capitalists, overseas investors,and intermediaries. Business owners have a wide variety of capital sourcesavailable to them. The sources of capital vary in cost, terms, andcollateral. Raising short-term and long-term capital fall into three main sources:shareholders equity, borrowed funds, and reserves. Three types of financeare short, medium, and long-term. Short-term finance is generally the fundsrequired to run a business or the operating expense. Short-term finance isgenerally more costly and must not be used for long-term projects. Short-term finance can come from the following bank overdraft, commercial bill,and debtor finance. Medium term finance is capital that is in 3-10 yearrange and comes from the following forms: term loans, personal loans, andleasing. Long-term finance is the purchase of various assets such as plant,machinery, land, businesses, and building that are anticipated to recover aprofit over a given number of years. Financial markets assist in helping borrowers find lenders. Banks andother intermediaries use deposit money for individual who seek to borrowand distribute in the form of mortgages and loans. The goal set forth by most organizations is to leverage the businesscash. The more long-term the greater the financial leverage. Additionalcapital is an investment and several tools are available for informedinvestment decisions. The SEC (Securities and Exchange Committee) hasseveral rules that need to be adhered to and will address questions setforth by organizations. It is crucial to evaluate the use of attainment ofadditional capital in terms of the current business plan in place. Severalquestions must be addressed in regards towards the capital: the need, theurgency, current risks, purposes, current market standing, and overallprofitability in contrast to current risk. .u2905c086ff5193d00c985f56980bd431 , .u2905c086ff5193d00c985f56980bd431 .postImageUrl , .u2905c086ff5193d00c985f56980bd431 .centered-text-area { min-height: 80px; position: relative; } .u2905c086ff5193d00c985f56980bd431 , .u2905c086ff5193d00c985f56980bd431:hover , .u2905c086ff5193d00c985f56980bd431:visited , .u2905c086ff5193d00c985f56980bd431:active { border:0!important; } .u2905c086ff5193d00c985f56980bd431 .clearfix:after { content: ""; display: table; clear: both; } .u2905c086ff5193d00c985f56980bd431 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u2905c086ff5193d00c985f56980bd431:active , .u2905c086ff5193d00c985f56980bd431:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u2905c086ff5193d00c985f56980bd431 .centered-text-area { width: 100%; position: relative ; } .u2905c086ff5193d00c985f56980bd431 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u2905c086ff5193d00c985f56980bd431 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u2905c086ff5193d00c985f56980bd431 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u2905c086ff5193d00c985f56980bd431:hover .ctaButton { background-color: #34495E!important; } .u2905c086ff5193d00c985f56980bd431 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u2905c086ff5193d00c985f56980bd431 .u2905c086ff5193d00c985f56980bd431-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u2905c086ff5193d00c985f56980bd431:after { content: ""; display: block; clear: both; } READ: History Of Math EssayThe role of the U.S. Financial system is to monitor and report data aswell as offer small businesses and corporation the guidance and authorityneeded. Investment bankers are the intermediaries that communicate properguidelines between authorities and corporation in relation to currentinvestments. Several sources of capital are available in the current daymarketplace therefore it is essential for outmost scrutiny and analysisupon decision of analysis for uses of capital in thecorporation. Regulatory agencies are becoming stricter and auditing more corporations. Equity financing and debt financing have requirements that mustbecarefully followed to avoid penalty. U.S. Financial System has properdisclosure of informationneededforraisingcapitalwithinanorganization; it is the investment bankers of financial managers role toseek out the information need for a capital gain on capital raised. ReferencesFinancial Markets Center; U.S. Economy and Financial Markets. (n.d.). Retrieved on October 28, fromhttp://www.fmcenter.org/site/pp.asp?c=8fLGJTOyHpE;b=224802Investment Banking Wikipedia, Free Online Encyclopedia (n.d.). Retrieved onOctober 28, fromhttp://en.wikipedia.org/wiki/Investment_bank#Raising_capital_in_the_capital_marketsNSW Small

Techniques Employed by Managers in Ensuring Success of Plans in their Firms

Table of Contents Abstract Introduction Strategy formation Strategy evaluation Project management approach Conclusion Works Cited Abstract The leadership of any organization is always tasked with the responsibility of effecting ventures or projects that are aimed at making their firms grow on various fronts. To achieve this, various resources are at their disposal and what is expected of them is to utilize these resources effectively to attain the set objectives (Blaxill Eckardt, 7).Advertising We will write a custom research paper sample on Techniques Employed by Managers in Ensuring Success of Plans in their Firms specifically for you for only $16.05 $11/page Learn More As a result, chief executive officers and other managers need to be armed with techniques and skills which are vital for various plans and ventures to succeed. These techniques range from planning/strategizing to the implementation stage where workforce and other resources form a m ajor part. Introduction Managers of various entities have the task of ensuring that whatever plans and schemes that are put in place for their organizations to move forward are achieved. In order to realize this, they need to be armed with the most adequate and effectual stratagems, generally referred to as strategic management skills (Mintzberg and Quinn, 4). Strategic management refers to a division that involves itself with the main projected and developing programs taken by chief executive officers, technical managers and other business and enterprise leaders in the place of owners and/or shareholders. It involves exploitation of the various resources that are available in an effective manner so as to increase the performance of companies or firms and realize the goals or objectives that have been set. Strategic management involves spelling out the firm’s mission, vision and goals, and expansion course of actions (Markides, 55). All these need to be specified in relation to plans and schemes that are set out to realize these goals, and most importantly, allotting the necessary resources to achieve the aims. During the course and at the end of the projected period(s) of time, an evenhanded scorecard is always used to weigh up the by and large performance of the firm and its standing in terms of advancement toward the realization of set goals (Markides, 56). Management approaches need to start with the prospects of the stakeholders, with the evaluation or scorecard processes also taking all the stakeholders into account.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Effective management is an unending undertaking that assesses and directs a firm and the businesses in which the entity has a part, evaluates its challengers and lays objectives and stratagems to counter them, and then reviews these strategies regularly to establish the progress and eff ect any changes that may be required (Abell, 21). Strategy formation Once a plan(s) aimed at given results have been put in place, the leadership of any entity needs to come up with approaches to be utilized in realizing this. There are three main procedures that are normally used to form required strategies. The first involves conducting a situation study, self analysis and challenger evaluation in the case of business entities (Abell, 21). Such an analysis needs to be thorough and comprehensive, entailing both in-house and external, considering both micro and macro elements of the environment. In line with this evaluation, goals to be met are then set. The most important thing to remember here is that these objectives need to be matching with a time-line that is, involving both short-range and long-standing (Blaxill Eckardt, 7). This is where long-standing vision(s) of a probable future, the responsibility that the firm assigns itself in the general public, and by and large compa ny goals are crafted. Also important at this stage are tactical industry unit goals and calculated objectives. The objectives set above need to make the implication of a tactical plan, in relation to the situation evaluation. The plan offers the fine points on how the set goals are to be achieved (Abell, 21).. The procedures used in strategy formation make a pointer to project management, and over time, it has been shown that employing project management skills in running organizations often yields positive results (Markides, 57).Advertising We will write a custom research paper sample on Techniques Employed by Managers in Ensuring Success of Plans in their Firms specifically for you for only $16.05 $11/page Learn More Strategy evaluation In the course of determining the effectiveness of any strategy that has been crafted, it is imperative that an all-encompassing analysis is carried out by the management. A tool used by many managers is what is commonl y referred to as the SWOT analysis, which stands for strengths, weaknesses, opportunities and threats of the idea at hand. Strengths refer to the worth or power to induce the taking of a course of action or the embracing of a point of view (Handy, 21). It basically refers to what makes a given plan or undertakings hold the water in terms of its end outcome and benefits. For instance, in the case of a business dealing with production of consumer merchandise, strengths may include high demand, reduced costs of production, supportive legislation, among others. Weaknesses are the flaws or weak points of a given plan or undertaking. Evaluation of weak points is an important tool for managers if they are to realize set objectives for their entities. With a comprehensive definition of weak points, then one is able to come up with counter strategies for them (Handy, 21). Examples of weaknesses in the case of businesses include restrictive legislation, stiff competition, and unavailability o f capital or credit facilities, among others. Opportunities refer to possibilities as a result of a favorable combination of circumstances which support the undertaking of a given plan. An important tool for managers is being able to spot opportunities where others cannot and go ahead to effectively utilize such opportunities for the gain of their companies (Handy, 22). Opportunities that normally arise include demand for given commodities or services, favorable legislation, availability and/or accessibility of resources, among others. Threats are the things that are a source of danger for a given plan or course of action. Threat analyses as a tool enables the leadership of a given entity establish what can be safely carried out and find ways around various threats in a bid to achieve the laid down objectives (Handy, 23).Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More With a comprehensive SWOT analysis, a balance is struck between the strengths-opportunities and weaknesses-threats of given plans. Thus, deterrent measures are undertaken to uphold worthwhile plans or alteration of the whole plan. Other than the SWOT analysis, there are other tools used to assess tactical options by managers. Suitability of the option is one of them and it seeks to find out whether it would work. The thing to check here is the underlying principle of the plan and reflection is on whether the plan would attend to the main issues set to be attended to. Other things to find out here include; if there is a cost-effective aspect to it, if it is appropriate in matters of environment and abilities and if the company would achieve economies of scale (Markides, 59). A given plan needs to be assessed for feasibility, which seeks to find out whether it can be made to work. It also seeks to find out if the resources needed to put into operation the plan are obtainable or can be built up (Markides, 60). Examples of resources here include money, labor, time and data. Important tools under feasibility analysis are cash flow assessment and estimation, break-even scrutiny and resource allocation. A chosen plan needs to be acceptable, which means it has to work. Acceptability seeks to address the prospects of the concerned stakeholders who may include organization owners, shareholders and its clients, with the anticipated performance results. Under acceptability one looks at return, risk and stakeholder responses. Return is concerned with the gains anticipated by the stakeholders, be they monetary or otherwise (Mintzberg and Quinn, 11). For instance, owners or shareholders of an entity would look forward to a rise in their means while the workforce would look forward to advancement in their careers and clients would anticipate enhanced worth for money. Risk is concerned with the likelihood and end result(s) of the letdown of a line of attack. Likely letdowns ne ed to be addressed before the whole implementation exercise commences. Stakeholder responses look at the likely rejoinder of various stakeholders. For instance, shareholders could be in opposition to the making out of new shares, the workforce could be up in arms against outsourcing for uncertainty in employment, and clients could have issues with unification as they may be uncertain about quality. What-if evaluation and stakeholder plotting are some of the tools that managers utilize in this. Project management approach Change takes place constantly in the day to day lives of people but when it comes to an organization, it has to be effected in a progression of steps (Markides, 61). New procedures, marketplace necessities, administration enterprises, emerging knowledge and machinery all form ventures that require sound management, often encompassing departmental or disciplinary sectors. Project management as a discipline is most of the times responsible for bringing about noteworth y gains to entities by four main approaches. The first one is normally making certain that inadequate resources are utilized on the appropriate undertakings. This is made possible by a clearly defined goal(s) which are to be realized at the end (Markides, 61). With well defined objectives then the necessary undertakings are brought to the fore and thus assigned the required resources, be it in the form of money or labor(Abell, 25). With project management skills, effectual harnessing of contributions of various workers/players toward attaining set objectives is ensured. In instances where the plans to be carried out are complex in one way or another, project management knowledge always comes in handy as it covers management of whichever form of changes in a well thought-out manner (Abell, 25). Project management as a field, normally evaluates threats to whatever that is to be carried out, classifies objectives and main success areas and lays down worthwhile goals. Several organizati ons have limited resources and, thus, a restriction to the amount of undertakings it can commence and effectively manage. Beginning many projects or plans in an organization with such limited resources is futile since they will grind to a halt soon or later (Abell, 26). Consequently, being in the know on what an organization is able to afford at a given time is an important tool for it leadership. After it has been established how much the entity is worth, sound management of these resources then comes in. Since most plans for organizations entail new initiatives and learning, plan/project management has developed as an order to deal with the new and extraordinary. The most effective approach to succeeding in these plans is to break down the tasks to be carried out as illustrated here (Markides, 63). The first step or undertaking is to broadly describe the plan that is to be carried out. A well defined objective(s) or project will chart the way toward achievement of the aims since w hat is required is available to all players. The second step involves reduction of the larger plan or project into a set of convenient and handy undertakings. With such manageable chores, allocation of resources and evaluation of progress as time goes by and at the end will be much easier. After the whole plan has been broken down into manageable tasks, it means that the quantity of the resources required has also been established (Blaxill Eckardt, 14). Thus, the next step is to find these resources, be it financial, labor, time, among others. A panel or panels to carry out the planned work should be set up after the plan has been broken down and resources allocated. In allocation of teams to carry out required duties, importance should be pegged on the ability of all the players to carry out duties to the expected levels (Blaxill Eckardt, 14). The right number of people should be allocated the correct amount of work. The next stage is that of mapping the work to be carried out an d allot the resources to the tasks appropriately. For effective work to be carried out there should be no under-allocation or over-allocation. With all the above in place, it means work has commenced. For managers to succeed in various undertakings it is imperative that they keep an eye on and be in charge of the work (Handy, 27). This means that everything will run in course since any rectifications involving going off track will be rectified as soon as noticed. It is also equally important that advancement is reported to the highest administration and/or the venture guarantor. This is in a bid to ensure that any queries are addressed as their earliest. Issues of accountability are also well addressed with this form of arrangement. When the venture has been completed it should be closed down. This is then followed by a thorough evaluation to make certain that vital lessons are drawn from the whole exercise for future use (Mintzberg and Quinn, 19). Conclusion The main aspects that e merge from effective carrying out of by the top leadership ventures within an organization are setting up of appropriate objectives, crafting a scheme to attain these objectives and allotting resources necessary for such achievement (Abell, 28). On the other hand, what comes out clearly is the fact that these three key aspects are mutually dependent. The process of coming up with strategies and achieving the aimed goals must be iterative. It has to entail going back and forth amid questions concerning objectives, execution preparation and resources. For really complex undertakings, a broad evaluation is next to impossible. In such case all that is required is a situation whereby formulation and execution of tactics occurs alongside each other rather than one after the other (Markides, 63). This is for the simple fact that tactics are established on hypotheses which, in the nonexistence of faultless information, will on no account be entirely accurate. Strategic management and its as sociated tools is unavoidably a recurring learning process rather than a one-dimensional advancement on the way to a plainly defined final end. At the same time as suppositions can and should be assessed in advance, the definitive test is accomplishment. The top brass will as one might expect need to fiddle with company aims and/or their move toward chasing results and/or hypotheses about requisite resources. As a consequence, a tactic will be made over at some stage in execution. The thing that counts for the reasons of tactical administration is having an apparent view based on the best obtainable verification and on justifiable hypotheses (Markides, 63). Such a view needs to be of what it seems probable to achieve within the restraints of a given set of conditions. Works Cited Abell, Derek. â€Å"Strategic windows†, Journal of Marketing, Vol 42, pg 21–28, July 1978. Blaxill, Mark Eckardt, Ralph. â€Å"The Invisible Edge: Taking your Strategy to the Next Level Usin g Intellectual Property† (Portfolio, March 2009). Handy, Charles. â€Å"The Age of Unreason.† Hutchinson, London, 1989. Markides, Constantinos â€Å"A dynamic view of strategy† Sloan Management Review, vol 40, spring 1999, pp55–63. Mintzberg, Henry and Quinn, J.B. â€Å"The Strategy Process† Prentice-Hall, Harlow, 1988. pp4-19. This research paper on Techniques Employed by Managers in Ensuring Success of Plans in their Firms was written and submitted by user Desiree Herrera to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.