What does it take to become a successful leader in today's business Research Paper

What does it take to become a successful leader in today's business world - Research Paper Example An essential requirement for the business leader of today is to clearly understand major societal and environmental forces that shape business. Central in creation of value is knowing where and how to respond to societal demands in terms of the daily running of business. This calls for s strong sense of vision and emotional intelligence. The core of leadership in business still remains; leaders should be able to motivate employees, inspire and foster the spirit of teamwork among the people they lead so as to achieve common business goals. But the business environment has undergone tremendous changes in the past few decades presenting new management challenges to the business of today. They have to work in an environment with more challenges and expectations while leading teams in accomplishing the set business objectives. The implication of all these is that the modern business requires more than managers; people who can lead by vision and create the working environment in which the common vision is shared by everyone one involved. With the evolving purpose of the business leadership role, modern leaders must approach their work with a different perspective, lead change across & beyond the boundaries of business and effectively work in collaboration with relevant stakeholders in achieving the missions (Gitsham and W ackrill, 2012). A leader in the modern business world must keep up with developments in technology. Technological trends especially in business are evolving at the speed of lightning and this renders even a management tool that rocked the business world just in the past few years completely obsolete. Some leaders may face great challenges but keeping the pace would mean taking advantage of technological tools to the competitive benefit of the firm. The leader should be capable of utilizing tools such as social media and at the same time an environment in the firm where technology

The major problem in inventory system Essay Example for Free

The major problem in inventory system Essay One issue is infrequent large orders vs. frequent small orders. Large orders will increase the amount of inventory on hand, which is costly, but may benefit from volume discounts. Frequent orders are costly to process, and the resulting small inventory levels may increase the probability of stock-outs, leading to loss of customers. In principle all these factors can be calculated mathematically and the optimum found. A second issue is related to changes in demand (predictable or random) for the product. For example having the needed merchandise on hand in order to make sales during the appropriate buying season(s). A classic example is a toy store pre-Christmas. If one does not have the items on the shelves, one will not make the sales. And the wholesale market is not perfect. There can be considerable delays, particularly with the most popular toys. So, the entrepreneur or business manager will buy on spec. Another example is a furniture store. If there is a six week, or more, delay for customers to get merchandise, some sales will be lost. And yet another example is a restaurant, where a considerable percentage of the sales are the value-added aspects of food preparation and presentation, and so it is rational to buy and store somewhat more to reduce the chances of running out of key ingredients. With all these examples, the situation often comes down to these two key questions: How confident are you that the merchandise will sell, and how much upside is there if it does? And a third issue comes from the view that inventory also serves the function of decoupling two separate operations. For example work in process inventory often accumulates between two departments because the consuming and the producing department do not coordinate their work. With improved coordination this buffer inventory could be eliminated. This leads to the whole philosophy of Just In Time, which argues that the costs of carrying inventory have typically been underestimated, both the direct, obvious costs of storage space and insurance, but also the harder-to-measure costs of increased variables and complexity, and thus decreased flexibility, for the business enterprise.

Relationship Between International Trade and World Output

Relationship Between International Trade and World Output World economy is basically is the economy of the countries of the world. The economic development of these countries is measured through various standards of measurement. The economic development is some times measure in the form of world output and international trade in the world. These two frames are used as standard in measuring the economic development in the global world. World output is the quantity of output produced globally with in a given time frame. It can be used as a standard for global economic development in the world as more and more quantity of output produced in the world more it signifies the favorable environment of business and has the positive impact on international trade as well. Trade is also one of important aspects of the world economy as it provided the wide range of choices to different countries to enjoy the luxurious goods. Wide varieties of goods those are not available in the one own country may get traded from the other in order to enjoy the benefit s from those products that are not available in these regions. So world output and international trade are interlinked and has very deep effects on a country economy as well. Relationship between international trade and world output International trade and world output is closely linked together. More and more global output produced, more the production of products increase, more healthy will be the business environment and as businesses of the world flourish more the production in different businesses increase which will implied positive impact on the output produced in a country that will ultimately increase the trend of international trade in the world. (Ethier, W. J.1982). 1-The close relationship between the trade and world out put can be seen in the case of recession when the spending power of the people will drop and the people will be more concerned about their financial future and less motivated to spend on domestic as well as international products related to import from other countries. The result will be lower the trade. Decrease in world out put reduces the international trade pattern in this way. 2-The other example of closely linked relationship of trade and world out put is when the country is facing recession its monetary value will be decline due to which it can purchase less imported products due to less monetary value of its currency as compare to the other country currency and it will be easy to afford the domestic products as compare to the imports from other countries. This will discourage the trade of the country. 3- It is also analyzed that the rate of increase in the trade is much faster then the world output. One of the main reasons behind this phenomenon is that the traded items are much cheaper then the goods that are not traded. Another reason behind this can be seen that the growth productivity of traded goods are less as compare to the price of these items so that cause increase in the trade faster as compare to the output produced. Broad pattern of international tradeÂÂ   Different trade pattern can be seen in different countries depend on their level of development. The trade between the high income countries contributes 60% of world trade. Trade between low and middle income group is only 6 % of total trade and the trade between high, middle and low income countries are contributed 34% of total. This pattern of trade is important to consider in order to verify the trend of trading between different countries and to identify the major countries pattern in international trading. It is very important to confirm that the poor countries or middle income countries are also includes in trade activities and to ensures that weather balance are maintained in rich and poor countries through exchanging of commodities. (Helpman, E.1984) If trade cut off with other countries Trade is now becomes a basic economic need without which survival of a country is not possible because this ensures the provision of products that are not available I one own country. In past era the needs are more confined to the products that are produced locally but with modern advancement needs brought up and full filled with the help of trade with other countries having abundant of resources that need to trade. (Balassa, B. 1964), Example USA is the country that is importing various products from other countries of the world e.g. Tea, coffee, fruits and vegetables in fresh or in processed form e.g. in the form of pulp or fruit juice, different spices, herbs, nuts and other different dried fruits from Brazil. It also depend on China and Japan for different types of electronics like, TV, DVD players etc. if US suddenly cut off trading with these countries it has to cut off with all the luxurious that are confined with the trade relationship with these countries. US is it self a great manufacturer of electronics machinery and earn a lot of revenues from the export of this machinery to other countries if there will be no trade between US and other countries then US will suffer in losses and its earning will decline. Conclusion A nation can not survive without trading with other nations of the world having abundance of resources and absolute advantage over other. International trade not only helps nations to utilize its resources properly and increase the revenue by exporting of products after full fill one own need but it is the source of enjoying a large revenue from foreign exchange and getting variety of products through exporting. In absence of trade fewer choices will be available, less chances for earning revenue and have to face the recession in the country, which will have adverse effect on a country development.

Daisy Miller: An Annotated Bibliography Essay -- Annotated Bibliograph

Baylard, Dana Reece. "Daisy Miller." Masterplots, Fourth Edition (2010): 1-3. Literary Reference Center. Web. 23 Feb. 2014. This article analyzes the traditional social expectations implemented in an ancient European setting that conflicted with the more unorthodox ways of Americans who were traveling in Europe. Baylard depicts Daisy Miller’s behavior in the novella as innocent, yet ignorant to the customs of sophisticated Europe. Baylard describes Daisy Miller’s repeated misjudgment from Geneva’s society and reflects on the positive attributes to her personality that unfortunately are consumed by her conformity during her untimely death by the end of the novella. The author, Baylard, discusses how Daisy’s behavior is innocently rash and that her behavior is unintentionally trying to be lewd, but being in an unfamiliar setting to that of modern America has left her unaware of how to act properly. This is what leads to her misjudgment, which is clearly represented in Baylard’s descriptions of how various characters acted in the story. Such as Eugino, who would act shocke d and look at the Millers in a disapproving manner, or that of Mrs. Costello, who Baylard points out as an example of how women were supposed to act. Women of this specific time period, as Baylard says, were defined as delicately feeble as Mrs. Costello is similarly with her constant headaches, but Daisy’s untraditionally improper ways are a breath of fresh air to the typical norms. Brown, Melanie. "Freedom in Daisy Miller." Bloom's Literature. Facts On File, Inc. Web. 3 Mar. 2014. The writing discusses the theme of â€Å"Daisy Miller: A Study† being about freedom. Brown bring up the fact that Daisy and the Millers grew up in America where having a sense of in... ...ce and gives an effective analysis on her point of view. Works Cited Baylard, Dana Reece. "Daisy Miller." Masterplots, Fourth Edition (2010): 1-3. Literary Reference Center. Web. 23 Feb. 2014. Brown, Melanie. "Freedom in Daisy Miller." Bloom's Literature. Facts On File, Inc. Web. 3 Mar. 2014. Bruccoli, Matthew J., and Judith S. Baugman. "Daisy Miller." Bloom's Literature. Facts On File, Inc. Web. 2 Mar. 2014. Coffin, Tristram P. "Daisy Miller, Western Hero." Western Folklore 17.4 (1958): 273-75. JSTOR. Web. 01 Mar. 2014. Dunbar, Viola R. â€Å"The Revision of Daisy Miller.† Modern Language Notes 65.5 (1950): 311-317. JSTOR. Web. 28 Feb. 2014. Morris, Toni J. "Daisy Miller." Cyclopedia Of Literary Places (2003): 1. Literary Reference Center. Web. 5 Mar. 2014. Werlock, Abby H. P. "Daisy Miller." Bloom's Literature. Facts On File, Inc. Web. 5 Mar. 2014.

Emerging Trends in Marketing

Marketing is everywhere. Formally or informally, people and organizations engage in a vast number of activities that we could call marketing. Indian consumer today is economically far better off than his earlier generations. The coming years will bring full of high-return marketing opportunities. By closely watching the hottest trends, a marketer can make smart choices that let him step ahead of his slower-moving competitors. In these terms, marketers nationwide are setting their plans for future by adopting new ways of marketing. Thus an entrepreneur can use some of these tactics to reach its customers in the coming years.It aims to provide information to solve Managerial dilemmas in all functional areas. This conference will provide an opportunity to enhance knowledge and skills required to solve business problems and meet the challenges of a fast paced decision making environment. Today marketers focus on engaging the customers, offering them value and a customer experience which is innovative and customized. Consumers today are becoming digitally conscious and marketers are leveraging this opportunity to position their brands in a clutter breaking manner and gain competitive edge.A highly competitive environment, knowledgeable consumers and fast pace of technology are keeping business enterprises on their toes. Today management and its concept have become key for survival of any business entity. Good marketing has become an increasingly vital ingredient for business success and marketing profoundly affects our day-today life. It is embedded in everything we do – from clothes we wear to the websites we click on, to the ads we see. Marketing trends look even more digital in 2012. Mobile versions of websites are becoming the smartest trend.This conference aims at exploring diverse facets of emerging marketing trends to offer implemental managerial inputs. Through various academic deliberations, the forum shall be used as a platform to disseminate new kn owledge and leverage benefits from existing marketing know-how. This conference will provide an opportunity to enhance knowledge and skills required to meet the challenges of a fast paced decision making environment. The Conference aims at bringing together the best minds, both in the corporate and academic fields, to one forum and discusses the issues, challenges, strategies and recent trends in area of marketing.

Work Family Conflict

Hypotheses Hal- Individuals who report telecommuting will report less work-family conflict than those who do not report telecommuting. H2O – Individuals who report being able to take work home to complete will report less work-family conflict than those who do not report being able to take work home.. HA – Individuals who report having a flexible work schedule will report less work- family conflict than those who do not report having a flexible schedule. HA – Individuals who report taking a family leave will report less work-?family conflict than individuals who do not report taking a leave..HA – Reporting to a family-supportive supervisor will be related to the use of (a) telecommuting, (b) taking work home, (c) flexible hours, and (d) family leave. HA – There will be a negative relationship between reporting to a family-supportive supervisor and work-family conflict. HA – Having a family-supportive supervisor will mediate the relationship b etween (a) telecommuting, (b) taking work home, (c) flexible work hours, and (d) family leave and work-family conflict.Method Sample for the study was drawn from two sources (alumni of the College of Business f a public university and students enrolled in an evening MBA program there). Consent forms, questionnaires, and return mail envelopes were sent to alumni along with a letter requesting their participation. Only 12% of the alumni returned usable questionnaires. The low rate of returns was due to incorrect addresses and the fact that alumni were told they were only eligible to participate in the study if they were currently working and had a supervisor.For the MBA students, consent forms and questionnaires were distributed during class time. Students were told they only would fill out a questionnaire if they were employed by an organization. In total, 140 alumni and 71 MBA students returned questionnaires. Given the focus of the study was on work-family conflict, the only Indivi duals Include In the analyses were individuals who were working at least 35 hours per week and who had responsibility for whom an individual had responsibility. Given the sample inclusion criteria, the study ended up with a sample of 96 individuals (83 alumni and 13 MBA students).Of those individuals, 86 reported having childcare responsibility; eight individuals ported being responsible for another person, and two persons reported being responsible for both children and others. In order to ensure accuracy of the self- reported information, the alumni and the MBA students who returned questionnaires were asked to supply the name and address of a person whom they felt was quite familiar with their work and family life. A questionnaire was sent to those significant others along with a letter explaining why they were contacted.Of the 96 persons who comprised of the main sample, 53 questionnaires from significant others were received. Results Childcare responsibility, non-child responsi bility, and the use of family-friendly practices, questionnaire responses were made on a 7-point scale (1 = strongly disagree to 7 = strongly agree). Participants were asked-?†On average, how many hours do you work per week? ‘ , â€Å"How many children do you have under your career, and â€Å"Do you have care giving responsibilities for someone other than a child? ‘ (coded 1 = no, 2 = yes).As noted in the study, in order to be included in the analyses, an individual had to be employed, have a supervisor, be working at least 35 hours per eek, and be responsible for a dependent. With regard to the mean number of hours worked, the 96 individuals comprising the main sample reported working 47. 21 hours (SD = 6. 21). In terms of child dependents, the mean number reported was 1. 89 (SD = 1. 08). In terms of being responsible for non-child dependents, of the ten individuals reporting such responsibility, no one reported being responsible for more than one person. 6 indi viduals reported taking work home (58%), 55 individuals reported working flexible hours (57%), 23 individuals reported using family leave (24%) and even individuals reported telecommuting (7%). Of the 96 employees in the sample, two reported using all four family-friendly practices, 12 reported using three practices, 24 reported using two practices, 49 reported using one practice, and nine individuals reported using no practices. Hypothesis 1 predicted that individuals who reported telecommuting would report less work-family conflict.This hypothesis was not supported for either self-reports of work-family conflict (r = -. 01) or reports of significant others (r = -. 07). Hypothesis 2 predicted that individuals who reported Ewing able to take work home to complete would report less work-family conflict. No support was found for this hypothesis for either self-reports of conflict (r = . 17) or significant other reports (r = . 10). In fact, for self-reports, the correlation attained a p. 05 level of statistical significance but in the direction opposite of that predicted. In contrast to the results for Hypothesis 1 and 2, Hypothesis 3 received strong support.Individuals who reported having flexible work hours also reported lower levels of work-family conflict (r = -. 22, p. 05). The results for significant other reports of conflict also supported Hypothesis 3 (r = -. 23, p. 05). In terms of Hypothesis 4 individuals who reported having made use of family leave reported lower levels of work-family conflict (r = -. 21, p. 05). On the other hand, significant other reports of conflict did not support Hypothesis 4 (r = -. 11). Hypothesis 5 predicted that individuals who reported to family-supportive supervisors would make greater use of family-friendly (r = . 8, p. 05) were significant at the . 05 level. Hypothesis 6 predicted that individuals porting to a family-supportive supervisor would report lower levels of work-family conflict. This hypothesis was supported both for self-reports of work-family conflict (r -? -. 54, p. 01) and significant other reports of conflict (r = -. 38, p. 01). In summary, with the exception of the relationship between taking work home to complete and self- reports of work-family conflict, all of the other relationships between the use of family-friendly practices and work-family conflict were mediated.Discussion The study hypothesized that telecommuting, taking work home, having flexible hours, ND taking a family leave each would be negatively related to reports of work-family conflict. Strong support for Hypothesis 3 (I. E. , the use of flexible hours was negatively correlated with both self-reports and significant other reports of work-family conflict). This information may prove to be advisable for many organizations to offer flexible hours to their employees. In addition to focusing on the use of family-friendly practices, the study also examined the effects of reporting to a family-supportive supervisor.It was f ound that reporting to such a supervisor was positively related to he use of flexible hours and family leave. In terms of the correlation (r = . 14) between having a family-supportive supervisor and telecommuting, it may be premature to dismiss this relationship because it did not meet the p. 05 threshold that was used throughout this paper (this correlation was significant at the p. 10 level). Criticism Limitations for this given study are as follow: The response rate for the alumni survey was lower than the study would have liked. Another limitation is the low base rate for a few of the variables that were examined (I. . The use of telecommuting). A third limitation to note was the educated nature of the sample (everyone in the sample was a college graduate). Application This study could be expanded to include a larger population of employees, such as non-college graduates. It could also be expanded to other professions/departments in the organization. In future studies, it might also be worthwhile to consider coworker support for balancing work and family responsibilities (e. G. , are coworkers willing to switch work days or work hours to accommodate family responsibilities? ).