Human resource management strategies in hsbc

Human resource management strategies in hsbc 1.1 Background Human Resource Management emerged in the late 1970s and early 1980s as a new philosophy of managing employment relations particularly in the USA. From the USA, it developed to the English speaking nations and then to the rest of Europe (Brewster, 1994). Thus, it is a western derived concept that evolved in response to political, economic, legal, and technological changes and one which is highly influenced by the cultural context. It aimed to make firms more competitive, adaptive and strategic in a turbulent environment by introducing innovative practices in employment relations and business operations. It aspires to be fundamentally Unitarian that has little acceptance for the several interest groups, and thus promotes the notion of compatibility of stakeholders interests. In essence, it involves treating employees as valued assets and a source of competitive advantage through their commitment, competency and high quality of performance. With globalisation and increased opening up of economies, the concept seems to attract the other side of the world especially developing countries. Nevertheless and like any other managerial theory, HRM concepts and practices face the dilemma regarding its applicability and transferability to other settings in general, and to non-western or developing countries in particular (Alder and Boyacigiller, 1995). Accordingly, importing the western package and applying it to the context of developing countries without modification or revision is debatable. Universalists argue that importing such a package is applicable with little or no modification, while particularists have a completely opposite viewpoint. This makes us think of the argument put forward by Blunt and Jones (1991) as to whether there would be a mismatch between the imported systems, structures and procedures and the indigenous settings; and whether these concepts could be modified to indigenous sensitivities and particularism? This becomes more complex when one conside rs the multinational firms that operate in a variety of contexts and have to tailor their HR policies accordingly. Linked to this debate, the empirical work argues that socio-cultural differences magnify other factors and contingencies especially in the HRM context because HRM itself is value laden; it deals with people, cultures, values and ideologies which are not identical in nature. However, its adaptation differs even within the western world, as various models evolved along different paths producing different views of HRM. In view of the above, it is evident that managing human diversity across the world has become a major challenge for this era and especially for international organisations whose markets are continuously spreading around the globe. These organisations exist in different cultural contexts which add to the complexity of managing its human resources and thus its operations. Furthermore, they are vulnerable to external factors imposed on them by the host countrys different political, economic and legal systems. In some countries, these multinationals will be highly affected by the attitudes of local individuals, and thus the practice of domestic organisations. This is mainly because of the critical role of culture, which has a great influence over peoples attitudes and behaviours. At the same time, powerful multinationals can influence the host nations economic and political policies and practices. Likewise, they will have an impact on management styles and peoples tastes and lifestyles. Evidently, HRM practices will be influenced by these external factors as these activities are not carried out in a vacuum. In order to be successful in such a complex environment and diverse cultural settings, multinationals must employ and manage their resources effectively and efficiently. Thus, people assigned for international assignments need to acquire various characteristics and traits that will enable them to function in dissimilar environments and cultures. Essentially, flexibility and adaptation are core peculiarities that determine the success of the foreign manager in his mission across the border. This requires them to understand and adhere to the local setting, and hence apply the appropriate HR practice and managerial attitudes that best fit this new complex situation. To this end, I shall explore and study these practices and their applicability in multinationals operating in the UK through a case study of HSBC Plc. a multinational financial institution that aspires to becomes the Worlds local Bank (HSBC, 2010). 1.2 Aims and Objectives of the Study The main aim of this study is to critically evaluate HRM practices applicability to multinationals operating in a specific country; the UK. This is an attempt to understand the extent to which the concept is applicable to this country, and thus the level of its efficiency. Moreover, it will examine the impact and role of the political, economic, legal, technological and cultural contingencies in limiting or facilitating the applicability of HRM. Furthermore, it aspires to evaluate the different management styles of expatriates and local managers, as well as work attitudes in multinationals operating in the country. 1.3 Research Questions The main aim of this study is to critically evaluate HRM practices applicability to multinationals operating in a specific country; the UK. This is an attempt to understand the extent to which the concept is applicable to this country, and thus the level of its efficiency. Moreover, it will examine the impact and role of the political, economic, legal, technological and cultural contingencies in limiting or facilitating the applicability of HRM. Furthermore, it aspires to evaluate the different management styles of expatriates and local managers, as well as work attitudes in multinationals operating in the country. How do HRM practices in the UK organisations influence HRM in multinationals? How do the cultural and other contextual factors influence the HRM practices in the UK? How do the British workers perceive their foreign managers and the role of HRM? How do foreign managers perceive British workers and what do they expect from them? Is there a real difference between the HRM Best Practices advocated in the literature and those practices in multinationals operating in the UK? From the term multinational/s I mean here specifically HSBC Bank which is used in this dissertation as a detailed case study that may provide us with insights into the practices of multinational organisations in the UK. 1.4 Research Methodology According to Kane and OReilly-De Brun (2001). methodology provides an overall framework and implementation strategy to conceptualise and conduct an inquiry and construct scientific knowledge (Page 2). To complete most medium to large scale research careful planning is needed. A clear and well thought research plan is therefore necessary for the success of this research project. This study can be categorised as explanatory as it attempts to understand the phenomenon rather than to create a theory (Kane and OReilly-De Brun, 2001). The logic of reasoning, followed in this thesis is Retroductive, which attempts to overcome the pitfalls of both inductive and deductive research processes. It uses a predictive theory but sees it as a conceptualisation rather than an ordering framework as considered in deduction (Yin, 1994). There are various research methods being used in social science research. The most commonly used ones are; experimental studies, cross sectional studies, surveys, longitudinal studies, ethnography, and case study (Yin, 1994). In this research however I shall use single case study method. The main advantage of case study is its applicability to real-life, contemporary human situations and its public accessibility through written reports. Other benefits include that the use of a single case provides greater opportunity for depth of evidence and data. It also allows studying several contexts within the same case. In limited time this approach is most productive approach (Voss et al, 2002). Yin (1994) identified six different data collection methods for case study research. These include , physical artefacts, interviews, participant observation, direct observations, documents and archival records. In this research however I shall be using documents and archival records; which are most relevant to any case study research (Yin, 1994). These include; administrative documents, organisational reports, progress and written reports of event, formal studies, books, news papers, journal articles, and mass media articles. Data used for this research is mainly qualitative and is collected from secondary resources only. Secondary data is the data which already exists in documented sources. This includes data from published articles, reports etc. This is a cost effective and quick method, which can help researcher to identify the gaps in literature, and to get back ground information. 1.5 Literature Review Any organisation, from small firms to giant corporations, from service companies to hi-tech organisations, engages in human resource management activities. It needs to utilise its resources effectively in order to achieve its objectives and targets. Most probably, human resources in the work place in an issue of vital concern to all managers, and is the most important resource which employs all other resources to produce the desired outcome of the organisation. Thus the effective deploying of employees is a key element which will add to the competitive advantage of the firm. This means that the Personnel Management is an industry that existed since people started organizing themselves to achieve tasks (Molander, 1999). However, as globalisation and growing economic interdependence among nations emerge, together with rapid socio-economic changes, strong competition among organisations takes place, where the management of people increasingly became a vital issues in organisations. Therefore Personnel Management has to ensure that personnel policies and practices are geared to the objectives and strategy of the organisation in order to cope with the turbulent environment and respond to the new business needs along with the external threats from increasing competition. Consequently, this entails perpetual development and change of personnel management. In this respect the language of Human Resource Management has emerged to translate a new term for the management of employees in this active and changing world. However, the literature demonstrates a debate about the ambiguity of differentiating personnel from human resource management. Hendry (2005:55) states that Human Resource Management has gained ra pid and widespread acceptance as a new term for managing employment. It remains, however; an ambiguous concept. People question whether it is any different from the traditional personnel management, nor it is clear what it consists in practice. Some scholars however argue that HRM is an evolution of the process of personnel management (PM) and not a new theory of management employees, for example according to Torrington and Hall (1998:3): personnel management is experiencing the biggest change in its history. Many commentators believed that the arrival of human resource management was to be the greatest change in emphasis, but that was no more than re-thinking the process inside the organisation... Similarly Guest (2007) also supports this notion by saying that label has changed whilst the content continues to be the same. On the other hand, other writers attempt to make a distinction between HRM and PM. Hendry and Pettigrew (2000:25) state that HRM is then a perspective on personnel management, not personnel management itself. Additionally, they argue that the strategic character of HRM is distinctive. Underpinning this distinction, Legge (1995) identifies three features differentiating HRM from PM where the former is concerned with managerial staff and promotes integrated line management activities, with more focus on senior management being involved in the management of culture. This discussion indicates that the empirical work has different perspectives on viewing similarities and differences between personnel and human resource management. 1.5.1 Definition of HRM IHRM Is a distinctive approach to employment management which seeks to achieve competitive advantage through the strategic deployment of a highly committed and capable workforce, using an integrated array of cultural, structural and personnel techniques. This definition emphasizes the vital role of employment management to attain competitive advantage through strategic employment of proficient and committed employees, along with integrating HRM practices, culture and structure of an organisation. According to Schuler (1992:18) Strategic Human Resource Management is largely about integration and adaptation. Its concern is to ensure that: (1) human resources (HR) management is fully integrated with the strategy and strategic needs of the firm; (2) HR policies cohere both across policy areas and across hierarchies; and (3) HR practices are adjusted, accepted, and used by line managers and employees as part of their everyday work. This definition stresses the strategic approach to the management of human resources. It also implies integration of HRM with the organisational strategy, where HR policies cohere across all levels in the firm, and adaptation of HR practices by workers and line managers. Many other authors as well agree that HRM is a strategic function e.g. Mackay and Torrington (2006:178): Strategic HRM can be defined as the overall and coherent long-term planning and shorter ter management, control and monitoring of an organisations human resources so as to gain from them the maximum added value and to best position them to achieve the organisations corporate goals and mission. Evidently, the stress here is on long and short term HRM, and utilizing the workforce to produce value to the firm and attain organisational objectives. Further and more recent work of Storey (2002), Armstrong (2000) and Boxall and Purcell (2003) is also consistent with the notion that HRM is strategic in nature. In view of the above, it can be noted that definitions focus on the employees as core value to the organisation that will add to its competitive advantage. However, this makes us question to what extent this emphasis is applied in real practice, taking into consideration that HRM does not pay attention to the issue of sensitivity in the context in which it exists. Apparently, this issue of awareness and appreciation to the context is tackled more by IHRM as will be demonstrated below. Having identified HRM, it is important to highlight how IHRM us defined in the literature. IHRM refers to activities undertaken by international organisations to utilise its human resources effectively. Those activities include procurement; allocation and utilisation (Dowling et al, 1999). A similar understanding is echoed by Harris et al (2003:129) in saying that: International HRM examines the way in which international organisations manage their human resources in the different national contexts in which they operate. Accordingly, IHRM engages in more HR activities and is involved in further complexities for operating in different countries and dealing with a diversity of workforce from various nationalities. Moreover, multination organisations face the challenges of multiculturalism which means managing people from different cultural backgrounds. Additionally, international firms are involved in operating in diverse multiple markets. Therefore the need for a broader perspective is essential as it is crucial for the success of the international mission. 1.5.2 HR practices in the National and International Context In this section I shall focus on some of the major HRM practices and activities which both the HRM professionals and line managers are expected to get involved in. We will address these activities in the national and international context, as the basic HRM practices remain when functioning abroad but with added complexity. These core activities are recruitment and selection, training and development, process management and reward management. Recruitment and Selection in the National and International Context: achieving a competitive advantage can be attained through having highly effective and competent staff, and ensuring that recruitment is in line with corporate strategy. That is a firm does not gain a competitive advantage from HRM practices, per se, but from the human resources that the firm attracts and retains (Delery, 1998:1). Indeed the selected candidates are required to meet the organisations need and have the potential to be motivated to develop and add value to the firm. This core activity undergoes different stages to ensure the viability of the process. The empirical work of many authors such as Molander and Winterton, 2004 and Armstrong, 2001 etc. also promote similar procedures as presented in figure 1. Human Resource Planning Figure 1: Recruitment Procedure According to figure 1, the vacancies emerge from HR planning that stems from the corporate plan. This is followed by a detailed job analysis and then job description that describes the duties involved and what type of a person is needed for the job. Consequently, a person specification is developed including essential and desirable qualities in the potential candidate. At this point, an advertisement for the job is announced either internally of externally to attract appropriate recruits depending on the organisations need and policy. Initially screening and short listing for applications will precede the interview stage. An experienced interview panel is designed for this purpose where line managers and HR specialists are involved. Based on the results of the interview, the final selection is made where the candidate is asked to present his references before the final decision is taken. Notably, recruitment and selection plays a crucial role in the HR function, as any mismatch between jobs and people selected will reduce the efficiency of this function (Forkowski Schuler, 1994). Clearly, the emphasis is on the technical abilities of the candidate which will facilitate his path in the job market. However, it is worth saying that there is no universal model that can be adopted to ensure the efficiency of this process, as organisations in the same country may prefer different methodologies in the hiring practices, thus we cannot argue that there is a general consensus on identifying the hest practice. On the other hand, the practice of recruitment and selection applies to the international setting where the focus is on different essential factors. Training and development are also key tasks undertaken by IIR departments where investment in employee development is greatly emphasised. Accordingly, achieving business goals and individual growth is linked to enhancing the workforce performance through developing their capabilities and skills. Effective training is of paramount importance to the growth and success of the organisation, where the focus is on the quality and not the quantity of the training. Thus, it is directed towards the development of learning organisations and supporting customer care initiatives (Molander and Winterton, 2004). Performance Management in the National and International Context: Armstrong and Murlis (2001:205) define performance management as a process or set of processes for establishing shared understanding about what is to be achieved, and of managing and developing people in a way which increases the probability that it will be achieved in the short and longer term. Inevitably, performance management is a development activity that releases the potential of the employee. Walters (1995) perceives performance management as a process for work improvement and carrying out all activity in line with business goals and objectives. Therefore, employees performance is evaluated against defined jobs that are agreed upon between managers and employees, and where the objectives of the organisation are communicated. ?Furthermore, it is a continuous practice shared between managers and employees to increase job quality and improve individuals competencies (Armstrong and Murlis, 2001). Equally, it is a method for constructive feedback and a means for motivating employees and maximizing their effectiveness and commitment. Consequently, performance management for employees is reviewed continuously where feedback about their strengths and weaknesses is identified in a productive discussion. In this regard, positive findings are reinforced and praised, while performance problems are discussed in a constructive environment and corrective actions are given to employees. Plainly, effective performance management requires HR managers and line managers to be involved in this process which aims at creating a culture of continuous improvement and better performance and results. This activity continues to apply to IHRM and does not stop. Obviously, multinationals have specific expectations from their expatria tes in terms of appropriate outcomes and behaviour that contributes to attaining the organisational goals and objectives. Reward Management in the National and International Context: Armstrong and Murlis, 2001 proposed that reward management is directly linked to motivation and quality performance at the individual and corporate level, and is response to the business needs. However, reward management includes financial and non-financial rewards that provide intrinsic and extrinsic motivation. Accordingly, organisations reward employees as they are expecting certain kinds of behaviors including loyalty and commitment, as well as high performance. In return, employees expect to be fairly rewarded for their high achievement in different forms like promotion, salary, benefits and recognition. Therefore, reward management is not only important to recruit new staff, but it is imperative to retain good employees and motivate them, thus encouraging loyalty to the company (Thorpe and Homan, 2001). In view of the above, reward systems are to reinforce Pay for performance or performance related pay that promotes f air and equitable pay based on the individuals performance and contribution towards attaining the organisations goals and objectives. Hence, it encourages employees to strive for higher performance and supports innovation, which in turn all serve to enhance the organisations competitive advantage. Clearly, firms are flexible in adopting different reward systems that fit and meet both the needs of the individual and the organisation, and to assure continuous improvement at all levels. These systems are to be reviewed regularly to ensure they are providing value for money and that pay levels are competitive. Indeed, an organisation, before moving towards any reward system, has to identify why it wants to move towards this approach. Likewise, it must consider what kind of people it wants to attract and retain, and what competencies and skills are required in these individuals. Simply put, what values does the organisation want to reinforce and what reward practices does it want t integ rate in order to encourage to the desire behaviour and performance (Perkins and Hendry, 1999). On the contrary, reward management is a vital issue when crossing the borders. It encompasses more knowledge about the employment and taxation laws, customs, and employment practices in various countries. Clearly, each country is unique in its systems and regulations, and international organisations need to adapt to the local environment. Having explained these practices as they appeared in the literature review will help us to understand if there is a real difference between them and those practiced by multinationals operating in the UK as will be discussed in chapter five by analysing the case of HSBC Plc. 1.4 Organisation of Study This dissertation is organised into six chapters. Chapter one starts by introducing this study with a general discourse of HRM and its origins that were found in a western context. In the overview, it discusses the factors influencing HRM practices and particularly when applied in an international context. After this overview, it describes the aims and objectives, the methodology and the limitations and organisation of the study. Chapter two deals with the literature review of human resource management. It commences with a general overview of HRM, similarities and differences between HRM and personnel management as approached and perceived by different authors. This chapter then provides a definition of HRM and international human resource management (IHRM). It discusses what the literature promotes as best practices related to recruitment and selection, training and development, performance management, and reward management in the national and international contexts. In addition, the influence of culture and the other contextual factors on these practices are demonstrated, where the issues of sensitivity when implementing these practices globally are pointed out. Chapter three describes the methodology of this study and the data sources used. Furthermore, additional resources like accessing different websites on the World Wide Web, and getting information from organisational reports were utilised. Nevertheless, the author supplements this study with his own knowledge of the country as well. Chapter four introduces a historical background about the UK, together with the environmental factors including the political, economic, legal, technological, and cultural elements that have an impact on the business in this country. Each factor is analysed in the broader perspective and then is narrowed down to explore their implications for multinationals operating in the country. This is to examine their effect on the functionality of the HRM practices, and hence assess their impact on managerial attitudes and behaviours. Furthermore, the cultural dimensions affecting work practices in general and HRM activities in particular are addressed in order to serve the objectives of this research. Chapter Five examines the applicability of HRM practices in multinationals in the UK using the case of HSBC plc. It analyses these practices and highlights the case for and against such applicability. The chapter goes on to investigate the local workers attitudes to work, as well as their views of international managers and what they expect from them. Chapter six synthesizes and summarises the main concepts and various debates reviewed in the preceding chapters. It will reflect on some of the challenges which the author considers as main issues that need to be addressed by professionals working in the international arena and mainly at the HSBC Plc. 3.6 Limitations The biggest problem in this study is that the literature on the modern management in HSBC is limited. Especially from the academic, reputable and peer reviewed sources there are hardly any studies that can be used in this case. This made the research particularly difficult within short time and little budget. The analysis therefore, almost exclusively relies on the secondary data collected through sources listed above. The single case study method also has its inherent limitations, e.g. it is questionable to what extent the results obtained can be generalised and what inference can be made to the wider body of knowledge. References Adler, N.J. and Boyacigiller, N. (1995) Going Beyond Traditional human Resource Armstrong, M. (2000) Strategic Human Resource Management. A Guide To Action, Kogan Page. Armstrong, M. (2001) A Handbook of Human Resource Management Practice, 8t edn, Kogan Page. Armstrong, M. and Murlis, H. (2001) Reward Management: A Handbook Of Remuneration, Strategy Practice, (5ed), Kogan Page Limited. Blunt, P. and Jones, M.L. (1991) Editorial: Human Resource Management in Developing Countries, International Journal of Human Resource Management, Vol.2, Iss.1, pp.3-5. Boxall, P. and Purcell, J. (2003) Strategy and Human Resource Management, Palgrave Macmillan. ?Delery, J.E. (1998) Issues of Fit In Strategic Human Resource Management: Implications for Research, Human Resource Management Review, Fall, Vol.8, Iss.3, p.289 (21 pgs.). Dowling, P. J., Welch, D.F. and Schuler, R.S. (1999) International Human Resource. Greenwich, Connecticut: JAI Press. Florkowski, G.W. and Schuler, R.S. (1994) Auditing Human Resource Management in the Global Environment, International Journal ofHuman Resource Management, Vol.5, Iss.4, pp.827-851, (25 pgs.). Guest, D. (2007) Human Resource Management and Industrial Relations, Journal of International Human .Resource Management, Vol 1, No 2. Hendry, C. (2005) Human Resource Management: A Strategic Approach to Employment, Butterwork-Heinemann, Oxford. Hendry, C. and Pettigrew, A. (2000) Human Resource Management: an agenda for the 1990, International Journal of Human Resource, Vol. 1, Iss. 1. pp. 17-27. ?Kane,E., and OReilly-de Brun,M., (2001) Doing Your Own Research ,Marion Boyars Publishers, London. Legge, K. (1995) Iluman Resource Management: Rhetorics and Realities, Palgrave Mackay, L. and Torrington, D. (2006) The Changing Nature of Personnel Management, London: Institute of Personnel Management. Molander, C. and Winterton, J. (2004) Managing Human Resources, Routledge, London. Perkins, S. and I Iendry, C. (1999) IPD Guide on International Reward Recognition, London: IPI). Schuler, R.S. (1992) Strategic Human Resource Management: Linking the People with the Strategic Needs of the Business, Organizational Dynamics, Summer, Vol.21, Iss.1, p.18, (15pgs.). Storey, J. (2002) Human Resource Management: A Critical Text, (ed II) Routledge. Thorpe, R. and Homan, G. (2001) Strategic Reward Systems, Pearson Education, London. Voss, C. Tsikriktsis, N. and Frohlich, M. (2002) Case Research in Operations Management, International journal of Operations and Production Management, Vol. 22, Issue 2, Pages: 195-219. Walters, M. (1995) The Performance Management Handbook, (ed) London: IPD. Yin, R. (1994) Case study research: design and methods, Sage Publications.

The Adventures Of Huckleberry Finn :: essays research papers

E.M. Forster makes a bold statement when he declares that he would rather betray his country than betray his friend. Forster takes a very moral stand on the issue and states that a friendship is often more important than a government's actions or society's beliefs. His opinion regarding the value of friendship is a common theme shared by many authors throughout history, including Mark Twain, and Alexandre Dumas.Mark Twain's classic novel, The Adventures of Huckleberry Finn, describes a young boy torn between what he feels his country and society expect of him and what his heart tells him is right. Society believes that slaves should be treated as property; Huck, who had befriended a runaway slave, sees Jim as a person, not property. In the end, Huck Finn decides that he would rather disobey society's teachings about slavery, than betray his friend by returning him to his previous condition of servitude.Further reiterating Forster's conception of the proper order of one's loyalty is a product of English folklore, Robin Hood. According to legend, Robin Hood robbed from the rich and gave to the poor in an effort to bring happiness to the peasants of Nottingham in an otherwise dreary time under the tyrannical rule of Prince John. A childhood friend of Robin, Maid Marion places her friendship with Robin Hood above loyalty to the crown. She has numerous opportunities to betray Robin Hood, but she does not. She sees the good he is doing for the land and the lone resistance he and his band of Merry Men provide against the evil Sheriff. Had she been loyal to her country, Robin Hood would have never been successful against the Sheriff of Nottingham and the citizens of her kingdom would have had to endure even greater injustices. Sharing many of the same principles Robin Hood embodies is Alexandre Dumas's The Three Musketeers. The famous trio of noblemen battle against the villainy of the Court of King Louis XIII. D'Artagnan, Athos, Porthos and Aramis fight to preserve the honor of their Queen, Anne of Austria, against the Cardinal Richelieu. Their famous motto " All for one and one for all!" illustrates the value they place on their friendship.

Marginal costing techniques Essay

The cost of a product under marginal costing or variable costing includes only the variable costs of making the product. The variable costs include direct material, direct labour and variable overheads. Variable costs per unit approximate the marginal cost of making another unit of a product. Selling price minus variable costs adds up to contribution. Contribution is the amount of money available to cover the fixed costs and afterwards to contribute to profit. The fixed costs are treated as period costs and are expensed in the period incurred. Marginal costing can be used to assist in decision making in the following circumstances: acceptance of a special order, dropping a product, make or buy decision and to choose which product (mix) to produce when a limiting factor (resource) exists. The technique of marginal costing mainly concentrates on financial factors, for instance the company’s objective to maximise profit or to create wealth. But other non-financial or commercial implications with long term character are largely ignored. If a company decides whether it should drop a product or not, it is necessary to consider commercial factors. If it stops producing a product because of its profitability, it might upset customers who have bought this product over years. And it may happen that they start buying their whole products from competitors. A company should not think immediately about dropping a product when the demand is too low, since it is short term thinking to let thousands of customers go away. It should rather think about exceeding the demand. Further on, the product to be dropped may be a complementary one to another product made by the company. The problems of scarse resources can be compared with those of dropping a product. If an enterprise decides to make an optimum product mix (=profit maximising product mix), it might be in the position of not having enough resources to make a product with a lower contribution. The same effects of dropping a product could be a consequence. The acceptance of an order might depend on non-financial factors as well. The firm should consider if it could sell the products itself under another (low cost) label. Furthermore a company must pay attention to its price in the primary market because the orderer might offer the product either for a higher or lower price. Make or buy decisions are difficult because outsourcing always jeopardizes the jobs of those currently working for the  company and the quality of the job to be done. The firms’ image and thereby its sales are put in danger, if it makes frivolous redundancies. Moreover, the company has to make sure that it gets the same quality of output for less money to justify the outsourcing. In my opinion it is true that marginal costing ignores other relevant commercial factors. The contribution of a product on its own should not be decisive and is short term thinking. A company has to pay attention to customers, public and competitors as well. A long term strategy including financial and non-financial factors should be established to ensure a profitable and sustainable performance.

Analysis Of The Movie The - 1237 Words

of Merida, but rather the stronger bond that forms between her, her family, and the other clansmen. Frozen, instead still stuck with the age-old tradition of the female character falling in love with the male character. Since the beginning of the movie, Anna is in a rush to fall in love and does so hastily with Prince Hans. She meets Kristoff during her journey and in turn falls in love with him. In the end they share a kiss as they each realize the love that they had for each other. Therefore, Brave and Frozen are different in this respect, where in the end, Frozen still incorporates romance whereas Brave entirely disregards it as an option. Released in 2012, Brave made $66,323,594 in the USA on its opening weekend and grossed $237,282,182. Frozen was released the year after in 2013, making an estimated staggering $150,000,000 on opening weekend and grossed at $400,736,600. As both movies were set in medieval times, no product placements were to be found, though both movies (especially Frozen) continue to fair well with their many merchandise. The enjoyable aspect of the two movies was the way they both offered the story of a princess who makes mistakes and tries to get her way. A refreshing change from the all too common â€Å"goody-two-shoes† princesses who can do no wrong. The soundtrack of Frozen also majorly affected the way it was received, as the songs were memorable and addictive, able to stick in one’s head for days. Something that did not work well in Frozen’s favorShow MoreRelatedMovie Analysis : Movie 991 Words   |  4 Pages Film Analysis #3 The movie is an excellent portrayal of the current situation of our lifestyle in this generation. To be frank, it is a deep movie that has humor to help captivate and keep the attention of the audience drawn in. 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That included having an opportunity in employment, voting rights, having access to public facilities, education andRead MoreMovie Analysis : Movie Of A Film 2032 Words   |  9 Pagesbe able to come up with their own meaning instead of just giving it to them. They want the audience to think as they watch the movie, instead of sitting there blank. So what is an auteur? An auteur, defined from our book, is a â€Å"a director or other creative intelligence with a recognizable and distinctive style who is considered the prime ‘author’ of a film† (Film Analysis 1063). An auteur creates movies as a form of a rt to portray what they feel to people. They can portray feelings of politics, loveRead MoreMovie Analysis : The Movie Aloha 1191 Words   |  5 PagesWe live in a white supremacist society. There is a system set in place that favors white people and it’s been this way since the founding of America. Racism in Hollywood is no different, since its conception Hollywood’s preference for white faces has been clear and continuous. From the 1915 film Birth of a Nation to Cameron Crowe’s 2015 film Aloha, Hollywood’s has proven time and time again that we are not living in a post racial society. Racism within Hollywood can be seen in different forms, fromRead MoreMovie Analysis : The Movie Moana 1085 Words   |  5 Pagestheir way through the story in a luxurious ball gown in order to end up with a prince. However, there are many Disney movies that work to challenge these gender stereotypes. The movie Moana is a recent example of a Disney production that works to break the imposed stereotypes placed on children from an early age. The Moana movie poster in itself is a perfect example of challenging gender expectations. Through the look at the target audience, color, and the context of the poster, one can better understand