Modern competitive market environment, Brand recognition - Free Essay Example

Sample details Pages: 9 Words: 2736 Downloads: 2 Date added: 2017/06/26 Category Economics Essay Type Research paper Did you like this example? 1. Introduction In the modern competitive market environment, Brand recognition has been a widely discussed topic. Employer brand is particularly important given the fact that prospective employees have always preferred to seek employment in a recognized firm as compared to finding a mere work place. Don’t waste time! Our writers will create an original "Modern competitive market environment, Brand recognition" essay for you Create order Therefore, it is important for an organization to understand to which extent their employer brand is known, perceived and recognized compared to the competitors in the market. This knowledge gives the management (especially, HR) the opportunity to enhance their employer brand and use the same to improve the selection and recruitment process. Among the parameters sought by modern candidate, the employer values are evaluated by a number of aspects (Barrow, S.,1990) and it denotes that firms reputation as an employer. Also, the perception of the employer brand is an indicator as to how great place the company is for work ( Minchington B,2010) This is an outcome of employee value preposition and employer value proposition (EVP) which help the firm to manage every aspect of employment experience . This help a company for internal marketing and make an inside out approach for building up the reputation of the company. As a popular company in UK and a widespread retail chain in clothi ng, food and accessories, it is important to carry out a research in Marks and Spencer ( M S) to evaluate its position where employer brand is concerned and to identify the areas where it can use those findings to improve selection and recruitment processes. Therefore, this research project deals with investigating the perception of employer brand in Marks and Spencer and the extent to which it could be used to enhance recruitment and selection processes in Marks and Spencer which is the most profitable clothing retailer in UK. The researcher is the recruitment consultant who shall be working for this company to evaluate and analyze the employer brand. 2. Research Problem In todays competitive world, the employers need to provide the employees with competitive favourable working environment. It includes not only a good remuneration package, but also employee training, development, communication, team work and employability etc in order to improve employer brand. Similar issues lies with Marks and Spencer as a retail chain in UK and overseas. Since it has grown from being a single shop in 1940s into a large scale business across boarders, it is important that the company hire, develop and retain high calibre employees in its workforce. In order to achieve this end M S need to understand what employer brand perception they have achieve so far, how people compare MS employer brand against their competitors such as Tesco, Sainsbury, Gap, Next, Boots and others who are in similar business. Therefore, it is worthwhile that a research is conducted in order to find out how MS employer brand is perceived by individuals. Also, the outcome of such research he lp it enhance its employer brand perception and attract more high calibre candidate for recruitment, and retain them within the organization. This help them reduce labour- turnover and save cost thus strengthening its position ahead of the competitors. 3. Research Aim Objectives The aim of this research is to investigating the perception of employer brand in Marks and Spencer and the extent to which it could be used to enhance recruitment and selection processes in Marks and Spencer (a) To investigate the components of employer brand (b) To identify the employer brand expectations on employee perspective. (c) To evaluate recruitment and selection 4. Literature Review It is accepted that what an organization could provide for the employees in the long run is employability. This covers areas such as training, development, remuneration among the other things. What an organizations employment offer is defined as employer value proposition (EVP) or employer Brand proposition. In marketing, product branding is used to attract customers and retain existing clients. The same way, Employer brand is used to attract better candidates, train and develop them and retain them. The use of term employer brand was first came into use in 1990, and was defined as employer brand is the package of functional, economic and psychological benefits received by employment, and that can be identified with the employing company'(Simon B, 1996) In 2003, a famous employer brand survey with a an international group of readers revealed that among them, 61 percent of HR professionals had the awareness of the term employer brand and also 41 percent of non-HR professionals ( the Economist,2003) Fig-1: Key components of Employer Branding As seen in the above figure, Business development practice Ltd. of UK tried to establish the components of employer branding ( corporate eye, 2008) . Also, another survey conducted by The Economist and TMP, it was found that the expected benefits can be estimated as follows (www.modisintl.com, 2010): 53 percent anticipated a reduction in recruitment cost 73 percent expected higher employee retention 70 percent anticipated employees to recommend their organisation as a good place to work to others 59 percent expected increased commitment by employees to achieve the organizational goals 33 percent expected benefits through enhanced marketing communications 30percent expected increased profitability A study conducted by the Bernard Hodes Group found that (Modis, 2010): 53 percent candidates surveyed felt a strong employer brand resulted in shorter time to fill a vacancy 82 percent felt it helped develop their company reputation as an employer of choice 46 percent recognised its value in helping increase their job acceptance rate within the organization Employer brand management is a topic used in modern management which expands the scope of employer Brand beyond communication to cover all the aspects of the employment work experience, thus the employee management processes and practices through touch-points. This help it re shape the perceptions of existing employees and prospective candidates (Barrow, S. and Mosley, R., 2009) This methodology is known as Employer Brand management , which deals with the real experience of employment and not simply its functional or managerial presentation. This process supports not only the external recruitment of the right kind of talented individuals sought by a company to achieve its goals and objectives. It also results in the natural desire for effective engagement of employees and the retention of employees (Barrow S. , Et el, 2009) Further research has expanded the subject to discuss leadership capabilities of employer brand management, where a framework has been developed to look into the leadership capabilities necessary for managing the Employer brand (Brett M, 2010) The below aspects of Employer brand managements are discussed in this model: (1) Life cycle management of Employee- Employee life cycle is a new concept which deals with how the company develop policies, practices and systems to incorporate the changing personal needs of the employees with their age. As an example, when a female employee joins a company, company has a plan to help her through her life specially in the events of pregnancy, child upbringing etc. (2) Management of Brand portfolio- This is to allocate the brand portfolios within the company for careful management. While the marketing division is traditionally responsible for product brand portfolios, Human resources department is responsible for managing the employer brand . This segmentation is to ensure each segment has a strategy focussed on its development. (3) Community management- With the advancement of media and global communication channels, community management is a new dimension the employers have to look into in order to enhance the perception of the firm. The connection with the society serves very positively for the companies in order to connect the employees with the customers to build up a two way feedback channels. These channels help the community to understand the direction of the business and gain knowledge about their new products and services. At the same time the company gains the advantage of better understand the needs of the customers and make strategies to deliver the best and increase the profitability. Among the companies who have been very much focussed on this end Dell and Procter Gamble are noteworthy on account of harnessing the wisdom of the crowds in order to be innovate better products and servic es at a lower cost than what was previously possible. ( BRETT M, 2010) (3) Change management- This is an important aspect in the Brand management as most unhappiness of the employees come from humans natural resistance to change. Therefore, it is important that any change required within the organization is managed carefully in order to keep the level of Employer brand from deteriorating with the conflicts or shocks in the work environment. (4) Leadership Leadership is a critical factor in driving the Employer brand. When there is stong leadership in the company, the employees have more confidence and they are aware of tha fact that someone is there for them at difficult times. Leadership theories may suggest that leaders are born and not made, however, a strong leader makes a strong employer brand such as Google, Starbucks, EMS and so on. ( Robert J. ,1996) (5) Communication- At present, the companies are more focussed on their communication channels and methods in impr oving their image. These include media advertisements, the way employees and customers are treated and greeted. Management make themselves available for the employees to communicate in a pleasant working environment. (6) Training Training is important in order to influence the different levels of employees in the organizational hierarchy on the importance of Employer branding and help them develop Employer Branding capabilities across the organization. (7) Performance towards goals- The employer Brand development must always align with the goals of the organization. Performance objectives, setting of targets and goals are on going processes. The company strategies must incorporate the Employer Brand development into those strategies and performance management (John Austin,et el , 2009) 5. Research Methodology Research methodology is how the research should be carried out in a way that is practically possible in order to scientifically achieve the aims and objectives of the proposed research. (Trochim, W.M.K, 2006). Such methods can be chosen from many methods where data can be obtained and analyzed for deriving conclusions. However, due consideration must be given to avoid biasness and to conclude the research within a given period of time. 5.1 Research Design In conducting a study project, research philosophies play an important role in. The main 2 forms of research philosophies used by the researchers are (1) theory of Phenomenology and (2) Positivism. In Phenomenology method the researcher tries identify the essence of human experience about a scenario or phenomenon as explained by the participants ( subjects) of the research. These are the experiences known to them empirically by doing something or by their own instincts (Nicolaas J. Molenaar, 1982). Phenomenology leads und erstanding the experiences of the subjects and thereby develop possible relationships and patterns of the outcome (and possibly develop statistical analysis). In this method, the researcher must be careful not to allow his own experiences influence the type of questions asked or the way the research is carried out. This helps him avoid biasness. In this particular researcher decided that phenomenology would be the most suitable research philosophy to this study as Employer Brand perception is known to the participants through their own experience. This phenomenological method involves (a) interpretation of the experiences and observations from the participants, (b) Adjustment of those interpretation for researchers meanings in a form which can be used for analysis and (c) using the data for deriving conclusions and to make recommendations. In order to obtain the information as above, the researcher, after careful consideration of various methods, decided that surveys though qu estioners is the most suitable research design method given the fact that it provides an easy and straightforward method for the researcher and participants to describe their own Employer Brand perception about Marks and Spencer and easily collect data within a given period of time and ease of analysis of data collected from a sample of staff members in the organization. 5.2 Data collection method In order to collect data from the participants, researcher consider survey questionnaires to be the most appropriate method. This is based on the fact that this research is an evaluative research and the research design was based on a survey. However, semi-structured interviews are also used in order for the researcher to probe into the answers and clarify any unclear responses. This helps in improved quality of data and avoids the researcher having to seek clarifications at the stage of data analysis. In this research questionnaire shall consist of a mixture of open and close-ended questions (refer appendix-1). While close-ended questions help obtain a specific answer on a particular subject, open-ended questions give the opportunity for the participants to elaborate on an answer or describe their opinion in a wider scope. 6. Sampling Sampling is the statistical process of selecting an unbiased random subset from a population in order to yield some information/ knowledge about the whole population (Adà ¨r, Mellenbergh, 2008) This help the research to be conducted in cost effective way and makes it efficient and less time consuming. And, at the same time, it helps the researcher achieve his goals and objectives. In this research, the selected size of the sample is 80. This is in two categories. 40 male and 40 female employees in Marks and Spencer selected at Random. The researcher will first contact the head of HR at Marks and Spencer through a telephone conversation and then the selected participants are notified via telephone through the HR manager. This help the researcher to be identified by the participant as someone having right and credibility to conduct such research. Also, it help the participants superiors to allocate some time for them to answer the questionnaire and have a short interview session wit h the researcher on an agreed date and time. 7. Data Analysis Once the completed questionnaires are received by the researcher, the quantitative and qualitative data ( which have been pre coded) are entered into a structured database. Where the number of responses for each category can be calculated and tabulated in pie-charts . Also, qualitative comments (answers) given for open ended questions can be categorized based on the type of responses and can be assigned with a code for further analysis and presentation. 8. Limitations Inspite of the fact that researcher has taken steps to make the research as unbiased as possible, there are following limitations. (a) Since the participants are only selected from Marks and Spencer , the type of answers and the outcome of the result could be different in any other organization. However, since the research is conducted for Marks and Spencer and the results are used for improving its own selection and recruitment processes, the research is relevant and useful for Marks and Spencer. (b) Due to time and cost constraints, only a limited sample was selected. In a larger sample, some different would have been possible. (c) Interpretation and understanding of questionnaire would hamper the quality of answers given by the participants. Therefore, active participation of the researcher is important in order to ensure that that what is meant by a question is the same as what is understood by the participant. (d) Also, in certain cases, the participants may not pr ovide their honest opinion and try merely to provide any response if they are not interested in spending time and careful consideration for the research. But these limitations can be minimised by setting up a suitable environment for them to discuss the questionnaire with the researcher and provide real answers about their perception of employer brand. 9. Ethical Issues It is important that the research is conducted in a way that ethical issues are considered and provides the participants with assurance that the research or the results are in no way harm them in their workplace or outside. In order to win this confidence from the participants, the researcher must show them a high degree of professionalism and legitimate authority to conduct the research. (Reynolds, 1979) The researcher can obtain a letter from the Chairman of the company for access the premises and engage in research with the participant. The participants must be informed of the purpose of the research in advance. Also, they must be informed that the research is governed by the data protection act 1998 and the analysis etc are conducted confidentially and the data and intellectual property rights of the company are adhered to . Also, in designing the questionnaire, the selection of wording and presentation of it should be carried out in a manner that it would not offend the par ticipants beliefs etc. Also, the questions asked and the matters discussed in an interview must be limited to what is relevant to the research .

What Makes Plastic Surgery - 1159 Words

Maybe They were Born with it, Maybe it is Cosmetic Surgery Humans are social animals by nature. There is an ever-present urge to assimilate into society for person gain or comfort regardless of a person’s place of birth. Through personal observations, in both the Western and Eastern cultures, the region a person is brought up does not definitively matter when it concerns physical insecurities or how someone goes about remodeling themselves. Some go about change through adapting their dietary habits and fitness regimes to achieve their ideal body, but in other cases, a person’s ideal is not achievable through natural means. At that stage, if someone is willing, they can turn to cosmetic surgery to sate their desires of the perfect body. This course of action is not recommended. Plastic surgery is detrimental to the individual and subsequently to modern society with how frequent the media promotes highly specific traits to even be considered beautiful while the target audience does not naturally fit into this mold. Therefore, pla stic surgery exorbitantly changes how individuals perceive social status—based on idealized features—which can directly equate to a higher standard of living; additionally, it can also alter current societal mindsets concerning the epitome of beauty (whichever features is considered more advantageous) will result in the homogenization of the standard of beauty. In an advancing world dominated by technology, the speed in which ideas are shared isShow MoreRelatedWhat Makes Plastic Surgery?929 Words   |  4 Pagesadvantage of plastic surgery on a daily basis. Doctors are persuaded to morph the faces normal women into that of a supermodel or actress, all for the sake of interesting television. 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Law for Fame Decorator Agencies Pty Limited v Jeffries Industries Limi

Question: Discuss about the Ccrporate Law Fame Decorator Agencies Pty Limited v Jeffries Industries Limited. Answer: Introduction In Fame Decorator Agencies Pty Limited v Jeffries Industries Limited, the respondent was a public company listed in the stock exchange. The appellant was an ordinary and convertible preference shareholder in the respondent company. The appellant was allowed to transform its convertible shares into ordinary one on a given day. The method for the conversion of the shares required lower average sale rate of ordinary shares in respondent in the last twenty working days before the day of conversion so that after conversion more number of ordinary shares may be given to the appellant. Accordingly, on the last day of the said period, the appellant sold the ordinary shares of the respondent company resulting into lowering the market rate of the shares of the respondent company. The judge at the trial court decided that the appellant has breached sections 995 and 998 of the Corporation Act, 2001 (Fame Decorator Agencies Pty Limited v Jeffries Industries Limited (1999) HCATrans 52; AustLii 199 9). In the instant case the company holding the convertible preference shares, the procedure for the conversion of which was linked to the average selling rate of the given ordinary shares for a period of twenty days, positioned an order soon before the closing of the working day for the period of the said twenty days with an object to bring down the average selling rate of the shares for that particular day thereby raising the count of ordinary shares that is to be given after conversion. The effect of the act of the appellant company was that the value of the shares reduced by 22 cents. This act was therefore considered to be in contravention of section 1041B of the Corporation Act. Also the act was of deceiving nature as the persons who wanted to buy the shares of the respondent company were influenced to think that the market rate of the shares imitated the real relation of the force of demand and supply. Issues The main issue in the instant case was that whether the appellant has made contravention of Sections 995 and 998 by deceiving the share purchasers in the stock market by selling shares at a lower rate. Further the question was did the director of the appellant company owed any duty with regard to the deceptive trading of shares. Rules The Corporation Act prohibits misleading and deceptive conduct of a person of an organisation with regard to trading of securities (Corporation Act 2001 (Cth) s 995(2)). Further the Act also prohibits any act which is in the nature of creating a false or deceptive appearance with regard to the rate of any share in the share market (Corporation Act 2001 (Cth) s 998(1)). The Corporation Act also prohibits a person to engage or to enter into a dealing which might result into the creation of an artificial rate for the purpose of dealing into shares listed in a stock exchange (Corporations Act 2001 (Cth) s 1041A). Under the Corporation Act a director is not exempted from his general duties (as given under sections 180, 181, 182, 183 and 184) or his fiduciary duties with regard to any of the transactions related to shares or their conversion where such transaction is authorised under the provisions of the Corporation Act or is permitted under a resolution by the members (Corporation Act 2001 (Cth) s 260E; Director of Public Prosecutions (Cth) v JM (2013) HCA 30). The general duties of a director include certain legal obligations. As laid down in the provisions of the Corporation Act a director of a company is required to perform the functions that have been cast upon him with caution and assiduousness of a standard that a prudent man would have taken in the similar circumstances (Corporation Act 2001 (Cth) s180(1)). The director of a company owes responsibilities towards the company and its shareholders. The director holds a duty to make sure that the company works at standard values and abides by the relevant laws made for the governance of the corporations and also that the day to day business of the company is carried on appropriately. If the director fails to perform his duties penalties may be imposed on him as given under the provisions of the Corporation Act (Australian Securities Investments Commission 2014). Application A person who holds shares which are of alternative or convertible nature and the conversion rate of which is linked to the market value of the given shares on a fixed date or for a fixed period such person may require that the market rate of such shares is comparatively low so that he may receive more shares on the conversion of such shares. The court held that the act of the vendor of thinly traded shares, intended to conclude the sale of the shares at a low rate and scheduled in order to influence the potential buyers of the shares at a higher rate, had the aim and result of making an artificial market and rate for a provisional period (Corporation Act 2001 (Cth) s 1014B) and this act was of deceiving nature with regard to the potential buyers of the shares of the respondent company (Corporation Act 2001 (Cth) s 1014H). Section 998 focuses on saving the veracity of the stock market. While reflecting the relations of influence of demand and supply the market may undergo different deficiencies without such deficiencies affecting their veracity. On the other hand, the behaviour of a vendor of thinly- traded stocks, intended to conduct selling of shares at a minimum rate instead of selling it on maximum possible rate and is scheduled in order to reduce the chances of the buyers calling higher rates, had the aim and result of making an artificial market and rate for a temporary period (Australian Stock Exchange 2000). The market purchaser and single purchaser, who made bids soon before the trading for the period got over, are distinct from each other. The impact of the appellants action upon the market for the stakes of the respondent, and the market rate, was not incidental only. The main purpose of the act of the appellant was to affect the market rate of the shares. The judge at the trial court observed that both the aim and result of the appellants action was to make an artificial market rate for the shares in the respondent company which was in violation of the section 998. Further regarding section 995 of the Corporation Act 2001, the majority opinion of the bench was that while the buyers of the shares of the respondent company that were sold by the appellant on the last day of the said trading period were not deceived by the acceptance of the proposal to purchase the shares by the appellant. The appellants action violated section 995 as his action could possibly deceive the prospective buyers of shares of the respondent company to believe that the market rate showed the real relations of influence of demand and supply. The prospective buyers would not have been able to predict that the appellant was looking forward to sell his shares at a minimum rate possible as against the prospective higher bidder. These above mentioned sections (i.e. Sections 995 and 998) when read in harmony with Section 260E it may be observed that the directors of the appellant company owed a general duty towards the respondent company. Accordingly, the director of the shareholder company were bound not to deal into shares in way that the transaction misleads or deceives the potential buyers of the respondent company. In the instant case the directors of the shareholding company were under a general obligation to take due care that the company should not act in a manner which is detrimental to the interest of the company in which they held shares. The directors were also under a fiduciary obligation to ensure that the company did not make any such conduct while selling the shares in the stock market which leads to deception in the mind of the potential buyers of the shares of the respondent company (Australian Senate 1989). Further the directors were under a duty to make sure that the company works with respect to the standard values of the corporate governance rules while complying with the laws governing the conduct of the business. The Supreme Court of New South Wales has laid down a principle that it is the obligation on the part of the director to take reasonable measures in order to direct and observe the administration of the organisation (ASIC v Adler 2002 NSWSC 171; Parliament of Australia n.d.). The observations made in the instant case were later on followed in a number of cases. In a Singaporean case the Court of Appeal held that the judge at the trial court made a correct observation that both the aim and result of the appellants action was to make an artificial market rate for the shares in the respondent company which was in violation of the section 998. The ratio of the judgement given in the instant case were applicable to the Singaporean case as well (Tan Chong Koay v Monetary Authority of Singapore (2011) SGCA 36). Conclusion Therefore, on the basis of the observations made above it can be concluded that the directors of the shareholding company were under obligation to ensure that their company was abiding by the rules of conduct of a corporation as laid down under the various provisions of the Corporation Act. Further the directors could have been made liable by the court for failing to perform their general duties as prescribed under the corporate governance rules. The company failed to make genuine dealing in shares as it acted against the rules of the Corporation Act which required it not to make any deceptive or false dealings such that it interference in the interest of the respondent company. The judge at the trial and the court of appeal made a correct opinion by taking decision by abiding by the rules of the Corporation Act. The observations made by the court of appeal were further referred in a number of latter cases relating to the misleading and deceptive conduct of the companies while dealing in shares. References AustLii 1999, Fame Decorator Agencies Pty Limited v Jeffries Industries Limited. Available from: https://www.austlii.edu.au/cgi-bin/viewdoc/au/cases/cth/HCATrans/1999/52.html. [11 September 2017]. Australian Securities Investments Commission 2014, Directors- what are my duties as a director? Available from https://www.asic.gov.au/regulatory-resources/insolvency/insolvency-for-directors/directors-what-are-my-duties-as-a-director/. [11 September 2017]. Australian Senate 1989, Company directors duties; report on the social and fiduciary duties and obligations of company directors, Senate Standing Committee on Legal and Constitutional Affairs. Available from: https://www.takeovers.gov.au/content/Resources/parliamentary_reports/downloads/social_fuduciary_duties_obligations.pdf. [11 September 2017]. Australian Stock Exchange 2000, Business rule guidance note. Available from: https://www.asx.com.au/pdf/TradingPractices.pdf. [11 September 2017]. Corporations Act 2001 (Cth). Director of Public Prosecutions (Cth) v JM (2013) HCA 30; 250 CLR 135; 87 ALJR 836; 298 ALR 615; 228 A Crim R 570; 94 ACSR 1; 6 BFRA 662; (2012) VSCA 21. Fame Decorator Agencies Pty Limited v Jeffries Industries Limited (1999) HCATrans 52. Parliament of Australia n.d., Chapter four- directors duties, Available from https://www.aph.gov.au/Parliamentary_Business/Committees/Joint/Corporations_and_Financial_Services/Completed_inquiries/2004-07/corporate_responsibility/report/c04. [11 September 2017]. Tan Chong Koay v Monetary Authority of Singapore (2011) SGCA 36.