Bonus Assignment #1 Case Study Example | Topics and Well Written Essays - 250 words

Bonus Assignment #1 - Case Study Example Gwaltney, chairman of the board of Gwaltney Mortar Company and Richard J Holland, board chairperson and the C.E.O. In addition to those we have Rodger R. Kapella, C.E.O and president of Patrick Cudahy, Robert W. executive V.P, Wendel H, president and board chairman of Murphy Farms, Inc., P. Edward Schenk, president and C.E.O of Gwaltney of Smithfield, Ltd., and Aaron D. the V.P., Treasurer and Secretary of the company. Joseph W. Luter is the C.E.O and the chair of the board. I think the chair/ C.E.O of the company is exception because he has 81% of the stock capital. The directors of the company receive a lot of cash compensation for participating in the board meeting. The Smithfield Company has a nomination committee that is in charge of all the nomination processes. All the stockholders nominate the company’s directors. I think that the appointment procedure is independent because the nomination committee is credible. The audit committee is made of Messrs. Faison and Murphy. Independent public accountants assist the committee in financial matters. By meeting nine times is enough for them to achieve their financial and other obligations. Joel Greenberg joined the Smithfield board in the year 1987. Richard J, Holland is a Board chair and the C.E.O of the Farmers Bank. In the fiscal year 1992, the executive committee attended no meeting. The Smithfield C.E.O had 81% of the stock capital, which is incomparable with that of other directors. Besides the C.E.O., we have other directors with insignificant shares hence decision-making was by the C.E.O. Over a number of years the governance structure has changed a lot and for the better of all. If the development continues, the company is expected to improve in terms of

Decision Making Essay Example | Topics and Well Written Essays - 2000 words

Decision Making - Essay Example It discusses the key decisions and information needs. Next, it highlights the importance of the marketing department and other employees of the organization. As the report continues, it provides a market research plan for Grand Days Out plc which can be used to attract older population. At the end, it discusses the importance of understanding consumer buying behaviour and the consumer decision-making process. There are many matters that a business needs to concentrate on. However, some of the matters need more attention than others. Critical Success Factors are those important areas of activity that need to be performed well with full attention in order for a business to achieve its goals. (MindTools) The goal of our company, as you all know, is to increase our market share and compete with the strong competition out there. However, we are not at a stage where we can put a lot at risk. There are many Critical Success Factors that you all might think are critical for the company, however, according to me, the three critical success factors are firstly, attracting the grey euro, increasing company morale and retaining current customer. The following diagrams summarize the three Critical Success Factors, the key decisions and their information needs briefly. The first Critical Success Factor is attracting the futur... customers have always been the younger market, in order to attract the older population, our marketing department will have to change the way our potential customers see our services. Therefore, our key decision is to change our marketing mix so that newer markets (grey euro) can be attracted. In order to change our marketing mix, we will have to carry out a market research and study our target market thoroughly so that we can design our advertisement campaign and our services accordingly. Our information requirements are therefore sources of information on these people, their requirements and how we fulfill them. We can use primary and secondary research to collect this data. Secondary research can be used to find out older population's statistic. Primary research can be used to find out their requirement. This could include carrying out focus groups, one-to-one interviews and surveys with randomly selected respondents between the ages of 50-60. This research will help us figure out the niche in the market and what our target customers want from our services. Our second Critical Success Factor is increasing the morale of the company employees. This is absolutely necessary in order to increase productivity and hence, efficiency. For this, our key decisions will be to invest in training and development of skills of our present employees and also provide the staff with benefits. However, it is not as simple as this. We need to carry out research to find out what areas our staff needs training programs for and what motivates them. Some employees can be motivated by monetary while the others can be motivated by non monetary benefits. By carrying out this research, we can find out exactly what will increase our staff's morale. Interviews, observation and surveys can be