Introduction to Business
- Advantages and disadvantages of Mc Donald’s ringing up sales in so many foreign currencies worldwide
The advantages of Mc Donald’s operations in so many regions include the ability of the company to face the economic downturn as it may affect some regions of the world, while the otger regions of the world may remain unaffected with the economic downturn or may be less affected. At the time of the US economic recession, the company benefited from the increase in sales in the Asia region that balanced the loss in sales in the US region.
The company has the ability to adapt itself to various tastes of customers in different regions of the world. Mc Donald’s customizes its meal menu in the different locations of the world. For example, the company has a special menu in Japan and a special menu to suit Indian tastes in India.
The disadvanatges include the frequent changes in the currency valuation and the devaluation of certain currencies leads to a decrease in the earnings and profits during conversion to the US dollar. The company also needs to make special efforts in product customization across the different countries of the world and serve a diverse range of customers.
- Reasons why Mc Donalds should use two joint ventures to operate restaurant in different regions of India
The possible reasons why Mc Donalds should use two joint ventures to operate reatuarants in the different regions of India are because it runs a Franchise model in India where Mc Donald’s partners with the local restaurants in India to operate under its name and provide its services. Since, different local enterprises may operate in the different regions in India. Mc Donald’s may have to enter into more joint ventures to operate its restaurants in the different regions of India.
- How being a multinational enterprise with an experience in more than 170 countries helps Mc Donalds build its business regardless of short term global economic outlook
Being a multinational enterprise with an experience of more than 170 countries helps Mc Donald’s build its business regardless of short term economic outlook as Mc Donald’s has established itself as a quality brand name among the target customers all over the world. The products of Mc Donalds and its menu items such as French Fries are in high demand in the different regions of the world. During economic instability, the company is successful in balancing its sales overall through increased sales in some regions that balance the loss of sales in the other regions.
Ch. 9 Attracting and Retaining the Best Employees
- How an organization’s recruiting practices may be affected by general level of employment?
The human resources of an organization plan and forecast the demand of employees in an organization and match the demand with the availability of the skilled employes in the market the HR planners conduct an analysis of the capabilities of the skilled employees within the organization . In case the demand for the skilled employees is more than the supply, the organization engages in retention programs for the existing workforce. In case, the supply of skilled labour force in the market is more than the demand for the organization to meet its needs, the organization may choose to reduce its work force. The immediate recruitment practices may be initiatied by organizations in cases where the employee functions are critical for organizations and an immediate replacement is needed.
- Are employee benefits necessary? Why?
Employee benefits are necessary as they enable the satisfaction of the needs of employees, to reward employees for their performance and to motivate higher performing employees to perform well in the future . The employee benefits programs play an important role in motivating the employees of the organization to complete the assigned tasks and align their goals with the goals of the organization. The employee benefit programs also play an important role in employee engagement and increased commitment towards the organization.
Ch.10. Motivating and Satisfying Employees Case Study: Container Store
- On the basis of Herzbergs Motivation Theory, how The Container Store reduce job dissatisfaction and increase job satisfaction
According to the Herzberg’s motivation theory, the employee satisfaction or dissatisfaction at work is affected by two factors – employee motivation factors such as responsibility and recognition and the hygiene factors that include the pay and work environment factors. The Container store provides a conducive learning and development environment to the hired employees where they are paid higher salaries than the other stores and are trained in the areas of ledership and management skills so as to make them better employees. The work environment of the store is highly positive and there are no rules and regulations to deal with customers. The store provides substantial employee empowerment so as to take decsions according to the situation. Every interaction at the store with the customer is fun for both the employees as well as the customers. Thus, the work environment at the store acts as a motivator for the employees.
- Efforts made by The Container Store to empower its employees. How does it affect job satisfaction?
The Container Store empowers its employees by allowing them the freedom to take decisions regarding their dealing with the customers. The store does not have any formal and hard rules and regulations for the employees to interact with the customers. The store also provides leadership and management training to all the employees for a period of one year and also after completion of one year with the organization. The training and development programs empower employees to take better decisions at the work place and make them feel more motivated to work for the organization.
The employee empowerment initiatives of The Container Store have increased the job satisfaction among the employees that is evident from the low turnover rate of the employees, more and more job applicants for recruitment and the higher ranking of the store as a favorable employer.
- Steps that should be taken by The Container Store to motivate and satisfy its employees.
The additional steps that may be taken by The Container Store to motivate and satisfy its employees can be the introduction of employee benefit programs that provide benefits to the top performers at the store, employee engagement initiatives through reward and recognition programs that recognize the contribution of the employees towards the organization and through efficient leadership programs. The efficient leadership at the store shall be instrumental in motivating the employees to perform better, align their goals with the goals of the organization and increase their commitment towards the organization.
Works Cited
Pride, William M., Robert J. Huges and Jack R. Kapoor. Business. Cengage Learning, 2012. Online.
