The two retail companies picked are Walmart and Costco whose 2017 Financial statement links are provided below: WALMART https://www.nasdaq.com/symbol/ wmt/financials?query=income- statement COSTCO https://www.nasdaq.com/symbol/ cost/financials?query=income- statement Both organizations are well known brands and position themselves well with their customer base. Walmart’s value proposition is “We save people money so they can live better”. On the other hand, Costco’s value proposition is “All-in-one convenience and everyday affordability”. Both retailers focus on cost saving for their customers. Looking at their financial statements and by analyzing them a few key areas are evident when comparing the two organization. Looking at the current ratio and quick ratio we can determine the short-term solvency of each organization. The current ratio can be determined by dividing the assets by the liabilities. Walmart’s current ratio sits at 0.86 while Costco’s sits at 0.99. The quick ratio is c...
The four hurdles faced by managers in project management including cognitive, resources, motivation and intuitional politics (“How to Change Your Organization’s Culture”, n.d.). I agree that project managers face similar challenges. First, cognitive is described as an understanding of the change, which in project management, is comparable to having team members who are experts and experienced enough to bring useful contributions. In projects, resources are also limited and thus, need to be controlled for the project’s success. Moreover, for motivation, one can state that ideally, projects are stressful and keeping teams working to their optimum requires tact. Watt (2014) indicates that the compensation structure is useful in inspiring such motivated – fixed contracts with performance incentives. Lastly, projects also face the pressure of politics and project managers have to tactfully manage stakeholders, based on their impact on the project and hold consultative meetings with them from time to time. -The author describes the story of the New York Police Commissioner Bill Bratton and how he made his top management understand the problems faced by the subway users. Based on this lesson, do you agree that the best team to cope with a change project is the one composed only of experts in the matter? Why or why not?The cause of Bill Bratton is not really about experts in the team, but about the decision-makers who should help steer the change experiencing the problem enough to embrace change (“How to Change Your Organization’s Culture”, n.d.). For a project to be conceived and executed successfully, there is a need to examine the problem being solved from different angles. For instance, there is need for the perspective of the customer to define what he problem really is, the engineers to define the availability of technology or solutions, the management to define the availability of resources, and the government body to provide the expectations of quality and acceptable ethical standards. Having single-perspective experts would not result in delivering a satisfactory product.
References
How to Change Your Organization’s Culture. Wall Street Journal. Retrieved from: http://guides.wsj.com/Watt, A. (2014). Project Management. BCcampus Open Textbook project. Licensed under the Creative Commons Attribution 4.0 Unported License, |
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