International Perspectives in Employment - Essay Example

? International Perspectives in Employment - Individual Business Report Written By: Submitted Table of Contents Table of Contents 1 Terms of Reference 2 Introduction 2 Procedure 2 For attaining the objectives above, the procedure to be followed will long and will be implemented throughout the organization. First of all, the production department will be called for a meeting to help devise modified products that are entirely focused on health. The formulas and ingredients of the products will be changed after discussions with the senior management as well as the operations department, in collaboration with relevant medical help such as nutritionists. The next step will be to devise a packaging that is made from recycled products. This will not only reduce costs but will also be a good strategy to attract customers from the Corporate Social Responsibility Perspective. The next step will be a challenge for the marketing department. Their marketing strategies especially advertising will have to take a 360 turn and promote products as healthy, environmentally friendly and low in cost. 2 Findings 3 Conclusion 5 Recommendations 5 Following are the recommendations for the company after this evaluation: 5 Bibliography 6 Terms of Reference Introduction In order to conduct an evaluation for Nature Foods about how it should react to the changing business environment, it is extremely vital to take care of a few important points that will help in changing the way it operates. The evaluation is intended for the internal usage of the company, as an analysis of its position that is declining because of the global economic downturn as well as environmental concerns for customers that have become strong enough to make them switch brands. The recommended changes will help Nature Foods to adopt new strategies that will help them increase their sales as well as customer satisfaction. Following the research that has been conducted by the relevant staff of Nature Foods, a plan needs to be developed for making the required strategic changes for the company. This process of evaluation will try to involve as many people from the organization as possible, so that a unanimous decision can be made regarding the changes, and so that relevant people can be gathered who on one table can together decide what strategies are likely to be more effective. Procedure For attaining the objectives above, the procedure to be followed will long and will be implemented throughout the organization. First of all, the production department will be called for a meeting to help devise modified products that are entirely focused on health. The formulas and ingredients of the products will be changed after discussions with the senior management as well as the operations department, in collaboration with relevant medical help such as nutritionists. The next step will be to devise a packaging that is made from recycled products. This will not only reduce costs but will also be a good strategy to attract customers from the Corporate Social Responsibility Perspective. The next step will be a challenge for the marketing department. Their marketing strategies especially advertising will have to take a 360 turn and promote products as healthy, environmentally friendly and low in cost. Findings Global Business involves more than just making money After all the research that had been conducted, available material on this subject indicates that Global business is not just about making money anymore according to Czinkota, Ronkainen, & Moffett (2008). It involves many other things such as complying to international standards, a sustainable business that is concerned about the future and that provides lower prices to the consumers in this era where they have many choices and switching costs are low, especially for evyday products like FMCG’s, to which Nature Foods belongs. Moreover, it is very difficult to ensure brand loyalty from the customers who are very rational and highly aware of global and market trends as well as opportunities and options that exist in the market (Gossling, 2012). The global recession has struck Nature Foods negatively like all other companies hence the idea of cost cutting should be adopted as soon as possible in order to retain existing customers as well as to attract customers from other brands that have those customers on the basis of cost. Concern for health and wellbeing In addition, consumers are becoming more health conscious because of increasing health issues such as obesity that leads to many other illnesses like diabetes, blood pressure and ultimately heart diseases which have given the consumers a reason to move towards products that are healthier (Horrigan, 2010). The focus of business is moving towards customer oriented products where customer has more power than the producer owing to tough competition that exists. Consumers like to consume products that are tasty as well as good for health which even though a rare combination, but wherever it exists it is known to work. Nature Foods should take help from nutritionists and other related medical specialists who can help create new formulas for existing products to make them healthier for consumption than before. Advent of Technology The advent of infinite compettion can be attributed to the arrival of rapid technology which has made it possible for the world to become a global hib where there are equal opportunities for all sizes and kinds of buisnesses, promotion has become quicker and fixed costs have declined (Smith, Bhattacharya, Vogel, & Levine, 2010). In addition, competition is not limited to geographic location but it is very likely that a business operating ten thousand miles away gives tough time to a business operating elsewhere regardless of size. Customers can sway amongst the immeasurable quantity of products available to them in all qualities and customized according to their requirements (Segerlund, 2010). Corporate Social Responsibility Other than that, a company’s success is measured not only in terms of the revenue it makes or the volumes of sales that it generates, but it is also measured on the Social Responsibility that it has towards the society by judging it on how it helps reduce environemntal degradation, how it helps conserve water, energy and the air that we breathe in, what it does for underdeveloped countries and how does it treat its waste (Rainey, 2006). Other than CSR, many regularoty agencies have become more stringent about rules regarding envronmental sustainability and there are heavy penalties for companies that do not follow the guidelines and rules (Binder, 2010). Therefore it is very important for Nature Foods to concentrate on the CSR factor, advertise it and illustrate their concern for environmental sustainability. Conclusion The company has rightly identified the problems that it is facing and has the opportunity to rectify them and switch to operations that cater to the new requirements of the business according to what the customers want, that is; environmentally friendly products, lower costs, healthier food and effective marketing strategies to gauge loyalty of customers. Recommendations Following are the recommendations for the company after this evaluation: 1) Switch to production of environmentally friendly products that fulfil the global business needs of today and help sustain the environment for future. This will include things lie packaging that is made from recycled products. 2) Lower the cost of Nature Foods products in order to cope up with the aftershocks of the economic recession, because consumers want to spend lesser on everyday products like breakfast items. 3) Products that are focussed upon health and wellbeing and have nutritious value in addition to quality and taste should be produced. 4) Marketing and advertising strategy that will portray its new changes and communicate to the customer that these changes have been made to ensure their satisfaction. Bibliography Horrigan, B. (2010). Corporate Social Responsibility in the 21st Century: Debates, Models and Practices Across Government, Law and Business. Edward Elgar Publishing. Binder, M. (2010). Corporate Social Responsibility Management as a Strategic Instrument for Creating Competitive Advantage. GRIN Verlag. Czinkota, M. R., Ronkainen, I. A., & Moffett, M. H. (2008). Fundamentals of International Business. Wessex Publishing. Gossling, T. (2012). Corporate Social Responsibility and Business Performance. Edward Elgar Publishing. Rainey, D. L. (2006). Sustainable Business Development: Inventing the Future Through Strategy, Innovation, and Leadership. Cambridge University Press. Schreck, P. (2009). The Business Case for Corporate Social Responsibility: Understanding and Measuring Economic Impacts of Corporate Social Performance. Springer. Segerlund, L. (2010). Making Corporate Social Responsibility a Global Concern: Norm Construction in a Globalizing World. Ashgate Publishing. Smith, N. C., Bhattacharya, C. B., Vogel, D., & Levine, D. I. (2010). Global Challenges in Responsible Business. Cambridge University Press. Read More