Skip to main content

Posts

Comparison between two retail companies picked are Walmart and Costco

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 of the book Blue Ocean Strategy

- Cognitive: Workers are encouraged to start a Strategic Change.  - Limited Resources: Changes are not cheap, but a good investment is required in order to see improvements. - Motivation: The Status Quo (the old fashion way to think and work) needs to be abrogated,  project shareholders should be motivated, changes are a good tool. - Institutional Politics: New ideas are great. Bureaucracy, in general, doesn't help to improve the new propositions.  A strategic change needs new internal politics. In my experience, old fashion ways, are in some cases a comfort zone. If it is not broken, don't fix it, they say. However, in many cases, we don't know what is broken. At a new job I've just started last month, things worked nearly fine, but a lot of failures were masked by many bad habits. Now is time to change. The financial department is looking for new customers, now is time to grow all the company from the ground to the top.  Many changes are critical, workers need

The four hurdles

The four hurdles, which manager faces during the broad change within the organization, are  cognitive, limited resources, motivation and finally institutional politics (Harper Business, N.D.). The steps discussed in the article will be perfect for the company, but in the project everything is a bit different. Some hurdles listed such as cognitive (to get employees understand the reasons for change) and motivational (to get them motivated for change) are actual for project management as well. Limited resources are among key obstacles almost always. However, institutional politics is something more important for organization than for a project. While telling “organization” we first think of long-term institution and structure, the word “project” makes us thinking of processes first of all. In my opinion, most changes including changes of culture are easier to do in a project than in an organization. Harrin suggests the practical steps of introducing the changes into the project   (Har

How to Change Your Organization’s Culture

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 f

hurdles are also applicable to a project manager

Chan Kim and Renee Mauborgne see that hurdles facing a manager who embark to change are cognitive, limited resources, motivation, and institutional policy  (Cited in How to Change Your Organization’s Culture, n.d.). But the question is whether the project manager will face the same hurdles? First of all, change within the context of project management is anything that transforms or impacts the project or any of its components. So, change management refers to the tools and processes a project manager uses to manage change within a project and its project team (“What is Change Management in Project Management?” n.d.). Within this context, the answer to the question above is both y es and no, that means the project manager, as his team is a form of organization, will face these hurdles but at a lower level of intensity. The reason is that the project team members have a lot of similarities, and they are usually heading for the same common goal. These similarities and unity of goal

common hurdles that manager faces when trying to implement a broad change in an organization

I do consider that all those hurdles are also applicable to a project manager. From my personal experience I can say that Project Managers are even more often involved in this type of hurdles than a people manager. Being a project manager means to work continuously in projects which bring innovation and change. A lot of people are not open to changes and can even be conflictual. I had a situation in my previous job when a tool supposed to be changed a part of our work became automatic. In the meeting when project manager presented the tool and the headcount reduction a conflict started. Some employees started to be aggressive and accuse project manager that he is responsible that they will lose their jobs. There was an entire drama at that time. I suppose that afterwards it took a lot of effort for that project manager to clam everyone and explain that there are advantages in using the tool and nobody will lose the job. I consider that indeed is better to focus on people who have

“How to Change Your Organization’s Culture

The article “How to Change Your Organization’s Culture” identifies four key challenges a manager has to face when dealing with the implementation of substantial changes within an organization. The first challenge is on a cognitive level; since people have to understand the reasons the changes in strategy or culture are needed (How to Change Your Organization’s Culture, n.d.). The second challenge focuses on resources, indeed, a successful change needs a shift of resources from some areas to others. The third obstacle a manager has to face is motivation. Workers have to be motived in order to successfully undertake the changes. In this phase, the manager has to be able to create the right tools, to build and enhance workers’ confidence in order to drive and especially own the changing process. Lastly, the process of changes has to be institutionalized by the organization. In my opinion, those hurdles can be successfully applied to a project manager attempting to promote cultural cha

What are Horas used for?

Sun   Perfect for applying for jobs, buying or selling anything, for going on adventures, dealing with anything politically related issues. Perfect time to communicate with your father and to seek favors from authority figures. Venus   Auspicious for love and relationship matters, for buying and selling luxury items, for recreation and entertainment, to buy or use new vehicles and for things related to dance and music.   Mercury   Good for conducting business and for any type of work related to medicine, for learning and teaching, studying higher knowledge and scriptures, writing, printing and publishing work, for communication and technology related matters. Moon Auspicious for a change of residence, traveling, anything related to your home or properties, meeting with elders, meetings with romantic partners, mediation, buying or selling textiles, all water-related works, creative and artistic activities. Saturn Suitable for working hard and laborious tasks, for o