Competitive Advantage in Fast Fashion

*CHAPTER* 3 COMPETITIVE ADVANTAGE *IN THE* FAST FASHION Fast fashion is a term used to describe clothing collections which are based on the most recent fashion trends presented at Fashion Week in both the spring and the autumn of every year. These trends are designed and manufactured quickly and cheaply to allow the mainstream consumer to take advantage of current clothing styles at a lower price. This chapter highlights the sources of competitive advantage that may exist inside the field of fast fashion, as shown in Figure 3. , studying in detail the major players who are part of: H&M, Gap, Zara and Benetton. {draw:frame} FIGURE 3. 1 : THE SOURCES OF COMPETITIVE ADVANTAGE *3. 1 *SUPPLY CHAIN A supply chain is a system of organizations, people, technology, activities, information and resources involved in moving a product or service from supplier) to customer. Supply chain activities transform natural resources, raw materials and components into a finished product that is delivered t o the end customer. In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable. Supply chains are increasingly being seen as integrated entities, and closer relationships between the organizations throughout the chain can bring competitive advantage, reduce costs, and help to maintain a loyal customer base. There are two main differences to value chains: Supply chains are more detailed since they incorporate not only activities. Supply chains connect intra-organizational value chains by products, services, and information flows. Supply chains underlie value-chains because, without them, no producer has the ability to give customers what they want, when and where they want, at the price they want. Producers compete with each other only through their supply chains, and no degree of improvement at the producer's end can make up for the deficiencies in a supply chain which reduce the producer's ability to compete. {draw:frame} FIGURE 3. 2: EXAMPLE OF SUPPLY CHAIN A typical supply chain begins with ecological and biological regulation of natural resources, followed by the human extraction of raw material, and includes several production links (e. . , component construction, assembly, and merging) before moving on to several layers of storage facilities of ever-decreasing size and ever more remote geographical locations, and finally reaching the consumer. All organizations have supply chains of varying degrees, depending upon the size of the organization and the type of product manufactured. These networks obtain supplies and components, change these materials into finished products and then distribute them to the customer. Managing the chain of events in this process is what is known as supply chain management. The Council of Supply Chain Management Professionals (CSCMP) defines Supply Chain Management as follows â€Å"Supply Chain Management encompasses the planning and management of all activities involved in sourcing and procurement, conversion, and all logistics management activities. Importantly, it also includes coordination and collaboration with channel partners, which can be suppliers, intermediaries, third-party service providers, and customers. In essence, supply chain management integrates supply and demand management within and across companies. Supply Chain Management is an integrating function with primary responsibility for linking major business functions and business processes within and across companies into a cohesive and high-performing business model. It includes all of the logistics management activities noted above, as well as manufacturing operations, and it drives coordination of processes and activities with and across marketing, sales, product design, finance and information technology. Effective management must take into account coordinating all the different pieces of this chain as quickly as possible without losing any of the quality or customer satisfaction, while still keeping costs down. The first step is obtaining a customer order, followed by production, storage and distribution of products and supplies to the customer site. Customer satisfaction is paramount. Included in this supply chain process a re customer orders, order processing, inventory, scheduling, transportation, storage, and customer service. A necessity in coordinating all these activities is the information service network. In addition, key to the success of a supply chain is the speed in which these activities can be accomplished and the realization that customer needs and customer satisfaction are the very reasons for the network. Reduced inventories, lower operating costs, product availability and customer satisfaction are all benefits which grow out of effective supply chain management. Furthermore, market demands, customer service, transport considerations, and pricing constraints all must be understood in order to structure the supply chain effectively. These are all factors, which change constantly and sometimes unexpectedly, and an organization must realize this fact and be prepared to structure the supply chain accordingly. 3. 1. 1 DECISIONS ON THREE LEVELS Supply chain management decisions are often said to belong to one of three levels; the strategic, the tactical, or the operational level. Figure 3. shows the three level of decisions as a pyramid shaped hierarchy. The decisions on a higher level in the pyramid will set the conditions under which lower level decisions are made {draw:frame} FIGURE 3. 3 HIERARCHY OF SUPPLY CHAIN DECISIONS On the strategic level long term decisions are made. According to Ganeshan and Harrison, these are related to location, production, inventory, and transportation. Location decisions are concerned with the size, number, and geo graphic location of the supply chain entities, such as plants, inventories, or distribution centers. The production decisions are meant to determine which products to produce, where to produce them, which suppliers to use, from which plants to supply distribution centers, and so on. Inventory decisions are concerned with the way of managing inventories throughout the supply chain. Transport decisions are made on the modes of transport to use. Decisions made on the strategic level are of course interrelated. For example decisions on mode of transport are influenced by decisions on geographical placement of plants and warehouses, and inventory policies are influenced by choice of suppliers and production locations. Modeling and simulation is frequently used for analyzing these interrelations, and the impact of making strategic level changes in the supply chain. On the tactical level medium term decisions are made, such as weekly demand forecasts, distribution and transportation planning, production planning, and materials requirement planning. The operational level of supply chain management is concerned with the very short term decisions made from day to day. Figure 3. 4 shows for each level types of decisions made. *3. 4 FIGURE:* DECISION-MAKING LEVELS IN SUPPLY CHAINS . 1. 2 DRIVERS OF SUPPLY CHAIN Drivers determine supply chain performance and are the managerial levers on which to guide the operational process. For each driver manager must make tradeoffs beetween efficiency (cost) and responsiveness. {draw:frame} FIGURE 3. 5: DRIVERS OF SUPPLY CHAIN Facilities Are the actual physical locations in the supply chain network where product are stored, assembled or fabricated. The two major types of facilities are: Production sites( factories) Storage sites (warehouse). Components of facilities decisions are: Location: centralize to gain economies of scale (major efficiency) or decentralize to be more responsive. Other issues include quality and costo f workers, costo f facility, infrastructure, taxes, quality of life,etc. Capacity: excess capacity allows a company to be more responsive to changes in the level of demand (major flexibility), but at the expensive of efficiency. Manufacturing methodology: decisions between a product or functional focus, between flexible or dedicated capacity. Warehousing methodology: choose between: SKU storage: stores all of one type of product together, Job lot storage: stores different products together to satisfy a particular customer or job, cross-docking: product is not actually warehoused in the facility, instead the facility is used to house a process where trucks from suppliers arrive and unload large quantities of different products. These large lots are then broken down into smaller lots. Smaller lots of different products are recombined according to the needs of the day and quickly loaded onto outbound trucks that deliver the product to their final destination. Inventory Inventory encompasses all the raw materials, work in process, and finished goods within a supply chain. Changing inventory policies can dramatically alter the supply chain’s efficiency & responsiveness. There are three basic decisions to make regarding the creation and holding of inventory: C_ycle Inventory_: this is the amount of inventory needed to satisfy demanf for the product in the period between purchases of the product. Safety Inventory: inventory that is held as a buffer against uncertainly. If demand forecasting could be done with perfect accuracy, then the only inventory that would be needed would be cycle inventory. Seasonal Inventory: this is inventory that is built up in anticipation of predictable increases in demand that occur at certain times of the year. Inventory has different impacts: Can increase amount of demand that can be met by increasing product availability Can reduce costs by exploiting economies of scale in production, transportation, and purchasing. Can be used to support a firm’s competitive strategy. More inventory increases responsiveness, less inventory increases efficiency (reduces cost). Can significantly affect material flow/cycle/throughput time because if you move your inventory faster, you don’t need as much inventory (inventory velocity). Transportation Transportations entails moving inventory from point to point in the supply chain. Components of transportation decisions are: Mode of transportation: is the manner in which a product is moved (air, truck,rail, ship, pipeline,eletronic). Each mode differs with respect to speed, size of shipments, cost, and flexibility. Routes and networks selection: are respectively paths along which a product can be shipped and a collection of locations and routes. In house or out source the transportation function. Many companies use third-party logistics provider (3PL) to perform some or all of their transportation activities. Usually companies outsource the distribution. Faster transportation allows a supply chain to be more responsive but generally less efficient. Less than full truckloads allows a supply chain to be more responsive but generally less efficient. Transportation can be used to support a firm’s competitive strategy. Customers may demand and be willing to pay for a high level of responsiveness. Information Information serves as the connection between various stages of a supply chain, allowing them to coordinate & maximize total supply chain profitability. It is also crucial to the daily operations of each stage in a supply chain for a production scheduling system. Components of information decisions are: Push versus pull: push systems (like MRP) need information on anticipated demand to create production and purchasing schedules. Pull systems (like JIT) need accurate qnd quick information on actual demand to move inventory and schedule production in the chain. Enabling technologies: many technologies exist to share and analyze information in the supply chain: EDI: electronic data interchange. ERP: enterprise re source planning. SCM software: Supply Chain Management Software Internet Forecasting & planning to anticipate and meet future demands. Available information is used to make tactical forecasts to guide the setting of monthly and quarterly production schedules & time table Coordination and information sharing Information allows supply chain to become more efficient and more responsive at the same time (reduces the need for a trade-off) {draw:frame} {draw:frame} TABELLA 3. 6 CONSIDERATIONS FOR SUPPLY CHAIN DRIVERS 3. 1. 3 SCOR The Supply Chain Operations Reference Model (SCOR Model) is one of the very few dedicated methods for supply chain modelling and has also a high relevance for many industries. The model has been developed by The Supply-Chain Council (SCC), an independent not-for-profit firm with more than 1,000 corporate members. It was first introduced in 1996 and is now available in version 8. 0. In contrast to generic process modelling methods, SCOR is actually a reference model, because it defines activities that can be found in any supply chain. In that sense, it can be regarded as a successor to the value chain model by Porter. The SCOR model covers the followings levels of abstraction: Top level ( level 1) Configuration level (level 2) Process element level (level 3) Implementation level {draw:frame} *FIGURE 3. 7*:* *SCORE PROCESS FRAMEWORK Top level SCOR defines five core management processes called process types that are relevant for all firms in a supply chain (scope of the model). Three of these process types form a sequence of source, make, and deliver. The process types are: Source (S) Processes that procure goods and services to meet planned or actual demand. Make (M) Processes that transform a product or service to a finished state to meet planned or actual demand. Deliver (D) Processes that provide finished goods and services to meet planned or actualdemand, typically including order management, transportation management,and distribution management. Return (R) Processes associated with returning or receiving returned products for any reason. These processes extend into post-delivery customer support. The top level, however, can not be instantiated, thus this level defines only the scope of the SCOR model. The modelling of actual or planned supply chains starts on the next level. Configuration level beyond the five main processes, there is a further classification of processes into three categories: Planning: processes that plan resources to meet demand in appropriate time intervals. re repeated periodically and have a great influence on the response time of the supply chain. Execution: processes as executive involved in the activities of scheduling, sequencing, processing, testing, and handling of products, affecting the cycle time of the order fulfillment. Enable: processes involving information and managerial aspects that affect the other two processes From five main processes the SCOR model identifies 26 processes of second l evel, each belonging to one of three process type defined above. For instance, categories for ‘source’ are: S1 ‘source stocked product’: The procurement, delivery, receipt and transfer of raw material items, subassemblies, product and/or services. S2 ‘source make-to-order product’: The procurement and delivery of a product that is built to a specific design or configured based on the requirements of a particular customer order. S3 ‘source engineer-to-order product’: The negotiation, procurement and delivery of engineer-to-order assemblies or specialized product or services that are designed and built based on the requirements or specifications of a particolar customer order or contract. By selecting the relevant process categories, a firm can represent its operational strategy. For instance, the relevant source categories need to be selected and mapped to respective products and/or services (thus a firm can implement multiple source categories reflecting diverse sourcing strategies). Process element level The process element level decomposes the process categories by adding process element definitions, process element information inputs/outputs, process performance metrics, and best practices. SCOR does not define functions and organizational entities for these elements, thus it strictly focuses processes. Implementation level Implementation level aims to implement management practices, defining the elements necessary to gain a competitive advantage and adapt to changes. METRICS SCOR defines metrics that measure effectiveness and efficiency of a supply chain. For this purpose, metrics form a hierarchy along the SCOR levels: Level 1 metrics relate to the overall planning of a supply chain (thus these metrics are differentiated to source, make etc. ). Level 2 and 3 metrics decompose the level 1 and 2 metrics respectively. Each level 1 metric contribute to realising a performance attribute. A performance attributes is a characteristics of the supply chain that permits it to be analysed and evaluated against other supply chains with competing strategies. For instance, a supply chain is reliable to a certain degree or not. The level 1 metrics and associated performance attributes are defined as follows: FIGURE 3. 8: THE LEVEL 1 METRICS 1. Production Strategic decisions regarding production focus on what customers want and the market demands. This first stage in developing supply chain agility takes into consideration what and how many products to produce, and what, if any, parts or components should be produced at which plants or outsourced to capable suppliers. These strategic decisions regarding production must also focus on capacity, quality and volume of goods, keeping in mind that customer demand and satisfaction must be met. Operational decisions, on the other hand, focus on scheduling workloads, maintenance of equipment and meeting immediate client/market demands. Quality control and workload balancing are issues which need to be considered when making these decisions. . Supply Next, an organization must determine what their facility or facilities are able to produce, both economically and efficiently, while keeping the quality high. But most companies cannot provide excellent performance with the manufacture of all components. Outsourcing is an excellent alternative to be considered for those products and compone nts that cannot be produced effectively by an organization’s facilities. Companies must carefully select suppliers for raw materials. When choosing a supplier, focus should be on developing velocity, quality and flexibility while at the same time reducing costs or maintaining low cost levels. In short, strategic decisions should be made to determine the core capabilities of a facility and outsourcing partnerships should grow from these decisions. {text:list-item} 3. 2. 1PUSH VS PULL {text:list-item} {text:list-item} {text:list-item} 3. 3. 2. 1 CRP {text:list-item} {text:list-item} {text:list-item} {text:list-item} 3. 6 KEY INTERNATIONAL COMPETITORS Fast-fashion specialty retailers with exceptional speed-to-market have outperformed department stores and less nimble specialty stores not only in their profit argins, but also in their pace of revenue growth, according to a study by The Sage Group LLC’s Apparel and Retail Group. The mayor comparable players that compete in fast fashion at international level are: Inditex -Zara Benetton H&M Gap Each of them has a vertical scope. Zara owned much of its production and most of its stores, the Gap and H&M, which were the two largest specialist apparel retailers in the world, ahead of inditex, owned most of their stores but o utsourced all production. Benetton, in contrast, has invested relatively heavily in production, but licensees ran its stores. The four competitors were also positioned differently in product space from Inditex’s chains. Inditex’s flagship brand, Zara, is relatively perceived as more fashionable than all the other three ann prices less than Benetton and Gap but higher than H&M. In these fuor competitors, Benetton and Gap place a relatively less fashionable and higher price, while Zara and H&M is more fashionable and price lower. {draw:custom-shape} {draw:custom-shape} {draw:custom-shape} {draw:custom-shape} {draw:line} {draw:line} {draw:line} {draw:frame} {draw:frame} Meanwhile, the major Italian player ‘Benetton’ marched on high street with, offering colorful designer clothing for the whole family. Their strategy resulted affirmative with noticeably contemporary window showcase in all stores with independent units. The company was successful in Britain, however, having a long standing in the market, they witnessed failure to keep up pace with the accelerated high fashion pressure by the other European competitors, which are now the known as Mango, H&M and Zara. The rise of these competitors on high street has been witness successful because of a higher demand for fast fashion. Styles showed in magazines and other advertorials are what people wish to wear. Top designers have created collection extensions, which cater people who can afford to spend their hard earned cash on triple figure. This resulted success to the affordable collection of European fashion brands A Swedish player, H&M offered readymade clothing stores – stocked with fashionable collection at reasonable costs. Its successful strategy was its own slogan ‘fashion & quality at the best price’ innovative design, reasonably priced and competent logistics. Based in Stockholm, a team of 100 fashion designers assures that nothing has been imitated from the runway platforms. They are mostly inspired from street-trends, movies, magazines and exhibitions. Impressively, the designs reach retail shelves within 2-3 weeks. H&M’s high profile designer tie-ups with Karl Lagerfield and Stella McCartney have resulted entire collections available to the mass people at lower prices. This strategy is supported by huge advertising campaigns, which easily compete with the major brand. In a world of advertisements and promotions, there is one store that has made strategy to not to spend penny on advertising, â€Å"Zara†, a wing of Europe's biggest, rapidly evolving and most triumphant fashion clothing retailers, Grupo Inditex. Other well popular stores in similar chain are Massimo Dutti, Bershka and Pull and Bear. Inditex operates business via more than two thousand stores in 56 countries. The first Zara shop was launched in 1975 at La Coruna, Galicia and at present it operates more than four hundred owned stores globally. In the previous five years they have witnessed sales up by 25 percent year on year. Zara runs its own design and production unit in La Coruna, Spain, which leads cancellation of the large out-sourcing operations, like H does in over nine hundred firms. It is modern, offering up-to-date lifestyle yet standard clothing lines for men, women and children. Zara offers reasonably priced, radical clothing, however, not of the top quality, which will last only for some seasons. As same as Zara, H can also put designs on retail shelves within three weeks. Its product assortment is cheap and small yet frequent, offering consumers huge selection that results repeated visits to their stores to find â€Å"What’s New†. Hitherto, Zara has launched over ten thousand new designs and most of these will just be attainable for few weeks. Another Spanish player, Mango is a reputed multinational brand devoted to designing, producing and selling fast fashion and accessories only for women. Its clothing line includes Suit, Casual Sport, and Mng Jeans. It might not be as huge as H or Grupo Inditex, but has played excellent particularly in the UK. No shopping malls resemble absolute with exclusive of these three brands. The pace of these companies in responding to changing consumer demands is an ideal proof to the retailing, producing and logistics skills needed in latest fashion industry. These new strategies are set up to develop aptitude to take advantage of the challenges of a competitive world market. Besides the diversification in product assortments there is one thing common in all these brands that is â€Å"intelligent logistics†. Well-organized communication between sales staff directly to the headquarters and producers lead them to match steps with high speed turnover. The fact is that buyers are becoming preference savvy and smarter in order to what they shop. Even though they always have their preferred designer, they are also acquainted that a throwaway piece of fast fashion from a retail chain store will complete their outfit choices. At so reasonably priced all of these retail perceptions play on Friday nights when people feels they have nothing to wear. Retailers are sent in a scuffle to make-out the major catwalk trends from the drawing sheets to the sales shelves as fast as possible.

The Code Of Conduct And How The Corporate Governance Is...

Abstract This paper will discuss the code of conduct in place for G.E. It will define the ways in which the code is adhered to and how the corporate governance is respected and modified. This will define the principles of a code of conduct per the module and the code of conduct for General Electric will be defined on how GE delivers its code of conduct and how it is either modified or updated continuously. General Electric Corporation has a code of conduct in place as follows: â€Å"â€Å"GE’s commitment to total, unyielding Integrity is set forth in GE’s compliance handbook, The Spirit The Letter. The policies set forth in The Spirit The Letter govern the conduct of all GE employees and are supplemented by compliance procedures and†¦show more content†¦No matter how high the stakes, no matter how great the challenge, GE will do business only by lawful and ethical means. When working with customers and Suppliers in every aspect of our business, we will not compromise our commitment to integrity. â€Å"â€Å" (General Electric Compliance Resource, 2009). General Electric has the bullet points from above on every business divisions website and the Code of Conduct for GE in consistent for all their employees. In other words, no adjusted codes based on various countries throughout the world. This also brings one to believe that employees will sign the agreement and be held accountable at all levels of the organization as well. It would seem that it does not allow special privilege as an option to opt out of participating and adhering to their code of conduct. Supposing one would want to opt out, it would be making a statement that they do not agree and therefore cannot work for General Electric. There are other codes of conduct for suppliers and vendors of multinational corporations. GE has various codes of conduct in place for these. According to Multinational Management: A Strategic Approach: â€Å"General Electric has their code of conduct policies ranked sixth in the world for the Fortune 500 companies to work for.†(www.ethisphere.com). It is involved in transportation equipment manufacturing, electrical products

The Struggles of Families in Poverty in The Jungle, by...

â€Å"In twentieth-century America the history of poverty begins with most working people living on the edge of destitution, periodically short of food, fuel, clothing, and shelter† (Poverty in 20th Century America). Poverty possesses the ability to completely degrade a person, as well as a family, but it can also make that person and family stronger. In The Jungle, by Upton Sinclair, a family of immigrants has to live in severe poverty in Packingtown, a suburb of Chicago. The poverty degrades the family numerous times, and even brings them close to death. Originally the family has each other to fall back on, but eventually members of the family must face numerous struggles on their own, including â€Å"hoboing it† and becoming a prostitute. The†¦show more content†¦Language further hinders the family. Poverty also has detrimental effects on families. Poor children possess a greater risk for iron deficiency, stunted growth, and asthma. â€Å"For parents struggling to raise a child, poverty adds extensive stress to the family† (Driscoll). As a result of constantly working, Jurgis rarely spends time with his son, Antanas. However, when he suffers an injury he finally gets this opportunity, â€Å"So Jurgis would begin to forget and be happy, because he was in a world where there was a thing so beautiful as the smile of little Antanas† (Sinclair 134-135). While the family remains intact, they do not remain that way for very long. Jonas leaves the family before long, and eventually Jurgis leaves the family as well. â€Å"‘No’, she answered, ‘I don’t blame you. We never have--any of us. You did your best--the job was too much for us’† (Sinclair 332). Marija clearly gave up hope for their family long ago. Another aspect of poverty remains the way a person looks at the family. Regardless of a person’s self confidence and secureness, one cannot help but to care about another person’s opinion. The family receives the evil eye all the time. Jurgis even gets blacklisted from Packingtown, taking away his ability to get a job and support the family. This occurs as a result of Jurgis protecting his wife from her boss who imposed his will on her. â€Å"They gazed at him with pitying eyes--poor devil, he was blacklisted!†¦ he could neverShow MoreRelatedUpton Sinclair and His Influence on Society Essay1552 Words   |  7 PagesUpton Sinclair, the famous American author, wanted to be a great influence on society. He was born in 1878 in Baltimore, Maryland, from a family of Southern aristocracy. His father was an alcoholic and his mother came from a wealthy family. When Sinclair was ten, the family moved to New York. His father sold hats and spent his evenings in bars com ing home drunk every night. As a child, Sinclair was an excellent reader and scholar. 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Tesla Motors - 11843 Words

For the exclusive use of T. Song, 2015. 9-714-413 REV: JANUARY 24, 2014 ERIC VAN DEN STEEN Tesla Motors â€Å"Tesla is in California, so it is not April Fool’s yet!† tweeted Elon Musk, CEO of Tesla Motors, around 10 PM PT on March 31, 2013. â€Å"First profitable Q for Tesla thanks to awesome customers hard work by a super dedicated team†1 he had tweeted a few minutes earlier. And indeed, on May 8, Tesla announced a net income of more than $10mln on $560 mln in sales.2 Tesla had outsold both Nissan and GM in electric cars in the U.S.3 Its Model S had sold more than the BMW 7 and Audi A8 combined.4 Tesla raised its Model S sales target for its first full year from 20,000 to 21,000 cars.5 Over the next three months, its stock price†¦show more content†¦market in 2012, though that was down from 98% in 1969.14 Despite this high concentration, two of the three large U.S. car manufacturers went bankrupt in 2009. 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Evaluating The Factors Affecting Job Satisfaction Among Workers

Question: Discuss about the Evaluating The Factors Affecting Job Satisfaction Among Workers In The Hospitality Industry. Answer: Introduction In the hospitality sector, employees are key resources and they demonstrate significant investment. Hence, if they are satisfied and loyal towards their jobs then it will be beneficial to improve the organizational performance. As per the organizational policy,management builds their appraisal, bonus packages, training program, and work system. These strategies could be beneficial to increase the employees loyalty towards their organization and leads to high extent of satisfaction level towards their jobs. The longer an employee works within an organization is more valuable as they could be loyal to their organization. Job satisfaction is a key factor which improves and keeps the profit of an organization. It is analyzed that there is a link between job satisfaction and organizational performance hence company should identify the factors affecting job satisfaction among employees in the hospitality industry (Mathieu, et. al., 2014). Project Objectives To explore the meaning and concept of job satisfaction To address the factors that lead to job satisfaction among employees in the hospitality industry To recommend the strategy to improve the job satisfaction among employees in the hospitality industry Project Scope This project is beneficial for readers to understand the factors affecting job satisfaction among employees in the hospitality industry. It could be also beneficial for hospitality companies to gain the understanding regarding the job satisfaction factors as it will be beneficial for them to increase job satisfaction among their employees. This project also develops their understanding regarding different strategy to improve the job satisfaction among employees in the hospitality industry. It could be also beneficial for entrepreneurs to understand the meaning and concept of job satisfaction as it is effective to improve the organizational performance (Wang, et. al., 2014). Literature review: Meaning and concept of job satisfaction As per the view of Yeh (2013), job satisfaction is defined as cognitive of employees and effective evaluation of the job. It also demonstrates the level of favorable feelings and attitudes among employees towards their occupation. It is analyzed that when an employee likes their job then they will feel high job satisfaction. In contrast to this, if employees dislike their job then they feel stress at work. Thus, it can be stated that job satisfaction is an emotional reaction that a person holds regarding their jobs. There are different factors which may influence the job satisfaction. These factors are work tasks, supervisors, co-workers, training and promotion, benefits, appreciation and compensation for their good actions. In support of this, Zopiatis et al. (2014) evaluated that a person who deals in hospitality sector spends their more time within an organization. Therefore, motivation is necessary for a person to influence their job performance due to spending more time. In the current business practices, a self-motivated person gives their more efforts for accomplishing the goal of the company due to tough rivalry in the hospitality industry. There is a favorable relationship between employeesmanagement and job satisfaction in the hospitality industry. It is also determined that an employee who deals in goodmanagement has high confidence which obtains favorable job satisfaction among them. Moreover, different factors are considered bymanagement to provide job satisfaction like appreciation, perks, praise, and motivation. It is effective to increase the employee morale within working in hospitality industry. Theories of motivation to provide job satisfaction Herzbergs Two-Factor Theory of Motivation According to Shani et al., (2014), Herzberg has classified the job factors into different manners like motivational and hygiene factor. Hygiene factors are determined as job factor which is required to lead the workforces within the organization. But, these factors do not motivate the employees for getting positive job satisfaction in long-term. It is also evaluated that if these factors are non-available at the workplace then it will create job dissatisfaction between workforces within the organization in the hospitality industry. In favored to this, Karatepe and Karadas (2015) evaluated that hygiene factor facilitates satisfactory job motive to employees as it would be beneficial to provide job satisfaction. Hygiene factor is considered as an extrinsic factor within an organization. These factors are also known as dissatisfier and a protective factor which is necessary for eliminating dissatisfaction among employees. These factors discuss the job atmosphere at the workplace. This factor also entails the physical needs that an individual wants and desire to accomplish. In opposition to this, McPhail et al. (2015) demonstrated that hygiene factor could not be entailed as a motivator as these factors are used to obtain positive job satisfaction. Motivator is also considered as an intrinsic factor within an organization which leads the workforces to improve performance. In the hospitality industry, employees are compensated intrinsically. The motivator shows the psychological needs. It is depicted as an added advantage. Maslow's Hierarchy of Needs Lu and Gursoy (2016) stated that Maslows hierarchy of need is used as a motivational theory which consists of five phase of human needs. It can be demonstrated as hierarchy level within a pyramid. It can be evaluated that people are motivated to accomplish their requirements and that needs to take priority over other needs. The basic need is to meet the physical existence and it is initial things which motivate the individual at the workplace and also provide job satisfaction. Initially, people complete the shortage of lower level before going on higher level development requirement. This theory could be implemented by an individual within an organization to satisfy their requirements. Therefore, it can be illustrated that manager should encourage their employees by gratifying their requirements which would be significant to provide the high extent of job satisfaction among employees. Factors affecting job satisfaction among employees in the hospitality industry As per the view of AlBattat and Som (2013), there are different factors that may affect the job satisfaction among employees within the hospitality industry. These factors are a work environment, Recognition and Rewards, Work Schedules and responsibility. The hospitality industry facing highest turnover rates as compared to other industry. Hotels lose money from turnover because they highly invest too provide training to new staff members. Hence, the company should encourage the employees t provides job satisfaction as it will not only decline the turnover but also enable the employees to deliver better services to guests. In support of this, Lee et al., (2015) stated that work environment is an essential factor which may affect the job satisfaction among employees. It is analyzed that a good working atmosphere and favorable association with staff members are essential factors of job satisfaction. Hotels recruit the employees from a different set of culture hence it is significant that management builds an environment in which employees act as a team and gives value to each other. A pleasant-sounding liaison between employees and management can enhance the job satisfaction among them. An effective way to implement this strategy for the manager is to show energy and passion in their jobs. In the hospitality industry, managers can lead by giving them example regarding wear dress perfectly, greet people energetically and treat their employees with the respect. According to Crawford et al. (2014), recognition and reward is another factor which may affect the job satisfaction. It is analyzed that feeling appreciation at the workplace may increase the job satisfaction. Management can appreciate their group by conducting curriculum activities like holiday parties and pizza parties. Moreover, individual recognition is a significant tool which includes monetary bonuses, public recognition, and awards. For example, a hotel shares wow stories with their staff members. In this way, when staff member facilitates outstanding customer services like deliver special food for a guest with positive emotion then employees are publicly appreciated for their efforts. Along with this, if a hotel considers areas of energy, environment, and safety then it can run even in the tough competition. The department with the lowest performance gets non-awards like a rubber chicken and burned-out light bulb. The non-awards can be eliminated in case department improves t heir performance in the Hospitality industry (Dhar, 2015). Thus, it can be stated that employee recognition gives a contribution towards positive work environment and gains employee morale. In contrast to this, Sharma and Dhar (2016) evaluated that responsibility is another factor in which employees who are micromanaged do not believe that they can make a general judgment without consulting with their superior. As a result, it creates dissatisfaction among employees. While employees get the proper training then they should be capable to deal with the situation. It is also analyzed that assigning responsibilities to employees shows the pride among them and also demonstrates their high extent of job satisfaction. Hence, the company should teach their employees about how to use values in their position to interact with them. Along with this, superior should facilitate an employee to discuss regarding what is ongoing and needs to improve in the department. Fu and Deshpande (2014) exemplified that work schedule is another factor which influences the job satisfaction. There are large numbers of employees who pursue the work in outside of interest. Therefore, it can be stated that providing work schedule allows the employees to make a balance between their personal and work life. Hotels which provide 24*7 hours facilities including holidays should give preference to their employees to choose their shifts and days off when possible. As a result, it would be beneficial to increase the job satisfaction among employees. Further, the hotel can improve employees satisfaction by offering home-based work such as reservation and customer care services through the phone. As a result, working at home is effective to avoid the commute time and facilitates high independence as well as scheduling flexibility for workforces. Strategies to improve the job satisfaction among employees in the hospitality industry Namasivayam et al. (2014) suggested that company should ask employees about their personal motivations. In this way, they should also ask the team about their personal interest. It could be simple as team meeting in which everyone can openly describe the issues they face to perform their responsibilities and can get new creative ways of easing them. Further, hotels can use employee survey system to get their concern and then provides the additional mentoring. Along with this, the company should reduce micro-management. Hence, it would be beneficial to build trust among employees. They will feel this trust as a reward. Further, the company should assign the clear roles and responsibilities to their employees as it would be beneficial to provide job satisfaction among employees. In support of this, Ozturk et al. (2014) recommended that company should improve the work environment as it will impact on the job satisfaction of employees. Improving work environment does not relate to using the new coffee machine, spending on new equipment, and ergonomic seating for employees. Since, it should be related to improving the work areas of employees. The working environment could be improved by conducting a survey of employees. The hotel should also improve the communication across all level. Hence, it can be stated that improving communication within an organization from superior to subordinate and significantly subordinate to superior is contributed to gain job satisfaction at the workplace. Employees should be permitted to make critics and raise their issue in a non-threatening atmosphere. When employees are scared to share their issue then they put their less effort into the job and want to leave the job. According to the Mostafa and Gould-Williams (2014), the company should generate employee recognition program to provide high job satisfaction. Employee recognition program does not relate to sticking the name on the table in the reception area. Since, it is related to giving thanks to an individual by the manager. In the hospitality industry, the company should try to decline the time stress as it would be beneficial to high job satisfaction. It is analyzed that tight deadline is a major source of stress among employees. Hence, the organization should identify different ways to ease the stress such as scheduling project and work breakdown structure and conducting the meeting. Conclusion From the above interpretation, it can be concluded that there is job satisfaction is effective to improve the organizational performance within the hospitality sector. Further, Maslows motivational need theory and Herzberg theory is used to measuring the job satisfaction level among employees. There are different factors which may influence the job satisfaction among employees within the hospitality industry. These factors are working environment, flexibility, and recognition. It can be also summarized that there are different strategy is used to improve the job satisfaction among employees. These are employee recognition program, improving the work environment, and employee survey system. References AlBattat, A. R. S., and Som, A. P. M. (2013) Employee dissatisfaction and turnover crises in the Malaysian hospitality industry,International Journal of Business and Management,8(5), pp. 62. Crawford, E. R., Rich, B. L., Buckman, B., and Bergeron, J. (2014) The antecedents and drivers of employee engagement,Employee engagement in theory and practice, pp. 57-81. Dhar, R. L. (2015) Service quality and the training of employees: The mediating role of organizational commitment,Tourism Management,46, pp. 419-430. Fu, W., and Deshpande, S. P. (2014) The impact of caring climate, job satisfaction, and organizational commitment on the job performance of employees in a Chinas insurance company,Journal of Business Ethics,124(2), pp. 339-349. Karatepe, O. M., and Karadas, G. (2015) Do psychological capital and work engagement foster frontline employees satisfaction? A study in the hotel industry,International Journal of Contemporary Hospitality Management,27(6), pp. 1254-1278. Lee, J. S., Back, K. J., and Chan, E. S. (2015) Quality of work life and job satisfaction among frontline hotel employees: A self-determination and need satisfaction theory approach,International Journal of Contemporary Hospitality Management,27(5), pp. 768-789. Lu, A. C. C., and Gursoy, D. (2016) Impact of job burnout on satisfaction and turnover intention: do generational differences matter?,Journal of Hospitality and Tourism Research,40(2), pp. 210-235. Mathieu, C., Neumann, C. S., Hare, R. D., and Babiak, P. (2014) A dark side of leadership: Corporate psychopathy and its influence on employee well-being and job satisfaction,.Personality and Individual Differences,59, pp. 83-88. McPhail, R., Patiar, A., Herington, C., Creed, P., and Davidson, M. (2015) Development and initial validation of a hospitality employees job satisfaction index: Evidence from Australia,International Journal of Contemporary Hospitality Management,27(8), pp. 1814-1838. Mostafa, A. M. S., and Gould-Williams, J. S. (2014) Testing the mediation effect of person-organization fit on the relationship between high-performance HR practices and employee outcomes in the Egyptian public sector,The International Journal of Human Resource Management,25(2), pp. 276-292. Namasivayam, K., Guchait, P., and Lei, P. (2014) The influence of leader empowering behaviors and employee psychological empowerment on customer satisfaction,International Journal of Contemporary Hospitality Management,26(1), pp. 69-84. Ozturk, A. B., Hancer, M., and Im, J. Y. (2014) Job characteristics, job satisfaction, and organizational commitment for hotel workers in Turkey,Journal of Hospitality Marketing and Management,23(3), pp. 294-313. Pan, F. C. (2015) Practical application of importance-performance analysis in determining critical job satisfaction factors of a tourist hotel,Tourism Management,46, pp. 84-91. Shani, A., Uriely, N., Reichel, A., and Ginsburg, L. (2014) Emotional labor in the hospitality industry: The influence of contextual factors,International Journal of Hospitality Management,37, pp. 150-158. Sharma, J., and Dhar, R. L. (2016) Factors influencing job performance of nursing staff: the mediating role of affective commitment,Personnel Review,45(1), pp.161-182. Wang, C. J., Tsai, H. T., and Tsai, M. T. (2014) Linking transformational leadership and employee creativity in the hospitality industry: The influences of creative role identity, creative self-efficacy, and job complexity,Tourism Management,40, pp. 79-89. Yeh, C. M. (2013) Tourism involvement, work engagement and job satisfaction among frontline hotel employees,Annals of Tourism Research,42, pp. 214-239. Zopiatis, A., Constanti, P., and Theocharous, A. L. (2014) Job involvement, commitment, satisfaction and turnover: Evidence from hotel employees in Cyprus,Tourism Management,41, pp. 129-140.

Role of Logistics in the Organization free essay sample

The Role of Logistics in the Organization Logistics is critical to the success of every organization. Once considered an important behind-the-scenes operational activity, logistics is now recognized as a strategic tool for creating customer value and loyalty. Companies like Wal-Mart,Coca Cola,and Nike attribute a great deal of their success to their global logistics systems. They realise that integrating activities within the organization and across the logistics pipeline, building strong relationships with product suppliers, and working with customer-focused logistics service providers are all crtitical to building a competitive advantage through logistics. †¢ The Marketing Concept It holds that achieving organizational goals depends on determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiency than competitors. †¢ Customer satisfaction. Is a measure of how products and services supplied by a company meet or surpass customer expectations. Marketing Mix To create the right marketing mix, businesses have to meet the following conditions: †¢ The product has to have the right features for example, it must look good and work well. We will write a custom essay sample on Role of Logistics in the Organization or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page †¢ The price must be right. Consumer will need to buy in large numbers to produce a healthy profit. †¢ The goods must be in the right place at the right time. Making sure that the goods arrive when and where they are wanted is an important operation. †¢ The target group needs to be made aware of the existence and availability of the product through promotion. Successful promotion helps a firm to spread costs over a larger output. For example, a company like Kelloggs is constantly developing new breakfast cereals the product element is the new product itself, getting the price right involves examining customer perceptions and rival products as well as  costs of manufacture, promotion involves engaging in a range of promotional activities e. g. competitions, product tasting etc, and place involves using the best possible channels of distribution such as leading supermarket chains. The product is the central point on which  marketing  energy must focus. Finding out how to make the product, setting up the production line, providing the finance and manufacturing the product are not the responsibility of the  marketing function. Logistics adds time and place utility The marketing process must also add utility to the products consumers want. Utility is the use or satisfaction a person gets from a product. Form utility. is the want satisfaction generated by the physical characteristics of the product. In other words, the better the job a product does in filling the customers basic functional needs, the greater the products form utility. For example, consider a car. Form utility is provided by all the physical characteristics of the car. The primary need that is served, of course, is transportation the ability to get the customer from point A to point B. The better the car does at satisfying this basic functional need, the greater the degree of perceived form utility. Place utility is the want satisfaction associated with having the product available where customers want to buy it. Customers interested in obtaining place utility are essentially interested in convenience they do not want to go out of their way to buy the product. Customers are often willing of pay more for the product in return for this convenience. Examples of marketing activities that build place utility are convenience stores (e. g. 7-Eleven, Circle K, etc. ), in-home delivery, and in-home shopping (such as shopping via the television, telephone shopping, or shopping from your computer). Indeed, the ability to place orders and accept deliver for products in ones home has to be the ultimate place utility! Time utility is closely related to place utility. They go hand in hand. Time utility is the satisfaction gained from having the product available when you want to buy it. Time utility encompasses the desire for immediate gratification. Just as with place utility, customers often are willing to pay more in order to obtain products quickly. Examples of marketing activities that generate time utility are fast check-out lanes in grocery stores, drive-through windows at fast-food restaurants, ATMs, next day or one hour turn around by cleaners, vending machines, and, of course, the convenient shopping that is available at your local 7-Eleven or your neighborhood grocery store. Possession utility is the want satisfaction associated with product ownership. Possession utility generally is achieved when the customer acquires ownership of the product i. e. when title is passed to the customer. Possession Utility possession utility establishes legal ownership of a product. When you purchase something you normally receive a receipt; this provides legal ownership and the right to use the product. Some products, computer software, for example, also provide a user license. A license of this kind gives you the right to use the product within certain guidelines.

The reformation essays

The reformation essays The reformation period was one of the most significant events in modern european history because it was the spark that would eventually smother the fiery dominance of religious leaders in politics and would incite a modern world where the most advanced societies now embrace a division of church and state and a tolerance to freedom of worship. Through the acts of revolting peasants and the minds of a new set of leaders such as Martin Luther, Queen Elizabeth and Popes Paul III practice would be born. Much of what we experience today in the most modern societies in our religious and political freedoms is a result of this most significant time in history. Indeed, if the events did not take place, what we now consider modern society may have looked completely different. Martin Luther, although only a monk, is credited with starting the Reformation by challenging the affairs of the church. Luther had been appalled by the selling of indulgences and engendered the 95 thesis, upsetting Johann Tetzel by posting it on the door of the castle church in Wittenberg. Word spread quickly about Luthers revolutionary ideas which instigated people to question church authority. This lack of confidence in the ways of the church led to a new autonomy in pedestrian thinking and helped to create a downfall in absolute power in the Catholic Church. Without this epiphany by the people of Europe, brought upon by Luther, the Church may have continued to monopolize European thought and politics. Queen Elizabeth, Henry Vllls third child to rule England, shaped religious thinking and its relationship to political power like no woman had done before. By promoting concessions that would lead to a uniting of Protestantism and Catholicism under one Church she created religious peace and reduced the power of a single dominating religi...