Effective Business Management Strategies

This assignment discusses the significance of business ethics in creating a positive work environment and achieving business goals. It highlights the importance of timely wage payment, employee training, and decision-making participation. Effective leadership strategies, such as cultural intelligence, are also explored. The assignment provides references to studies and research papers on business ethics and leadership practices.

Autumn 2017 First-sit Portfolio
Effectiveness in the Business World
(EBWO3001)
:
As a requirement for the completion of this portfolio, you should first decide
on a type of business you have or would potentially like to start up in the
future (e.g. restaurant, shop, service etc.). Your answers to the tasks below
will relate to this business.
Week Contents (350-400 words per task) Page Learning
outcomes
EBWO3001 | Effectiveness in Business World 1

Week 2-3 a. Briefly describe the nature of business you
have or might like to have in the future.
b. What are the advantages and disadvantages
of owning your own business?
c. In what ways could PESTEL be useful in
planning your start-up business?
3 LO1/4
Week 4-5 a. In what ways can ‘globalisation’ have an
impact on your business? Discuss two
examples.
b. What suitable technology would your
business use and how would it improve the
operations of the business?
4 LO1/2
Week 6-7 a. Briefly identify who your ‘customer’ is likely to
be. Why is it important for a business to
understand its customers?
b. Describe TWO ways in which you might
attract more customers to your business.
5 LO1/3
Week 8-9 a. What is the role of ethics in business?
b. With examples from other businesses, describe
how your business can treat its staff ethically.
6 LO3/4
References 7
Total word limit: 1500 words (+/- 10%)
This portfolio is a working document that MUST be completed over the 10-week course.
By the end of the 10-week course, you should have completed 4 tasks. You will also be
required to work on your portfolio during your weekly tutorial sessions.
ASSESSMENT – PORTFOLIO
EBWO3001 | Effectiveness in Business World 2

Week Task 1 Learning
Outcomes
Week
2-3
a. Briefly describe the nature of business you
have or might like to have in the future.
b. What are the advantages and disadvantages
of owning your own business?
c. In what ways could PESTEL be useful in
planning your start-up business?
LO1/4
Your answer should go in the box below.
a) The nature of business that wants to open in the future is retail organisation. The name of business which
starts in future is Johnson & Johnson company. This firm deals in providing the fashionable cloth items at the
reasonable cost. This company manufactures and also selling the clothes for children, men and also women. The
initial motive is to opening this company for providing the design clothes to every segment people (Bhuiyan,
2011). Its target only the medium and high class of people by providing the attractive and designer clothes.
The vision of this company is want to be a leading firm in the sector of clothing. Its mission is to expand its
business in to the new sector for increasing the profit level.
b) For owing its own clothing business, there are some its benefits and also some of the limitations given below:
Advantages:
 If Johnson & Johnson business company will give the attractive designer clothes to the people, then from
this many people will be attracted towards it products (Chhokar, Brodbeck and House, 2013). It will be
the main advantage of company.
 To run this type of business, there is a minimum need of licence.
 The main advantage for this company is that in this sector, it becomes the part of fabric of the local
community through supporting the vision.
 There is a big margin in the field of clothing.
 In this business there will be no need of financial dependency.
Disadvantages:
 Its main disadvantage is that in this sector there are many strong competitors.
 In starting own business, there is an involvement of risk at a large scale.
 Under this sector, there is a need to deal with the leftovers.
 If the local of company is not good or is on the outer location, then in this case people will not go to the
outer location.
c) At the time of planning the new business, PESTLE (Political, Social, Economic, Legal and also
environmental plays an important role. Before starting a business, it is necessary to do the PESTLE
analysis and also identify all the relevant factors. The impact of PESTLE can be bad and also can be
good. It is necessary for the owner that analyse the PESTLE of that country in which person wants to
start the business. It is important for a person to analyse the political factor (Guillén-Nieto and Aleson-
Carbonell, 2017). The business will be good in that country where the government is stable. Otherwise,
from changing the government their rules and regulations also changes and its impact will be bad on
business. Technology impacts on business, to increase the effectiveness of business, company should
adopt and also uses the new and advanced technology. It will helps in increasing the business
effectiveness.
Under this, P refers to “Political”, E means “Economical”, S means “Social”, T refers to “Technological”
EBWO3001 | Effectiveness in Business World 3

and E means “Environmental”.
Concept of PESTLE helps manager in identify the main factors exist in business environment and their impact
on business operations. With the help of this a manager can make and formulate effective business plans and can
choose right strategy or approach for execute business operations.
For example , if Johnson & Johnson want to expand its business activities in other countries than managers of
firm can evaluate the political conditions of different country and can plan or decide in which country they want
to expand to achieve growth of business. Further, different factors such as environmental guide business
managers in choose the right and effective process of production so firm can ensure optimum utilisation of
natural resources and can save them for future use. Along with this the aspect of technology guide top managers
in choose the right technology for execute production process. Apart form this, other elements such as legal and
economical also guide manager during formulation of business plans or help in the stage of doing planning for
business.
Week Task 2 Learning
Outcomes
Week
4-5
a. In what ways can ‘globalisation’ have an impact
on your business? Discuss two examples.
b. What suitable technology would your business
use and how would it improve the operations of
the business?
LO1/2
Your answer should go in the box below.
a) Globalisation refers to a process through business company and other business firms
can develop the business at the international level. Globalisation helps in enhancing the
communication of people by the development of culture, thoughts flow of money
internationally (Kolodinsky and et. al., 2010). Yes, globalisation can impact on the
business negatively as well as positively.
EBWO3001 | Effectiveness in Business World 4

Advantages of globalisation
 The globalisation is very helpful in enhancing the productivity of labour or
workers.
 It helps in rising an allocative effectiveness and efficiency of necessary
resources.
 It is very helpful in increasing the log run development rate of United Kingdom
country.
 The main advantage of globalisation is to restructure the pattern related to the
trade and production in favour of the techniques related to labour intensive.
 It helps in enhancing the relationship with the international countries.
Disadvantages:
 The main disadvantage of globalisation is that it consists the exploitation of
some developing countries, adverse impact on local economy, cultural
homogenization and an environment.
 It can impact on the particular class of labour.
 Its main disadvantage is the imbalance of trade and from this the unemployment
will be increased.
 Its major limitation is that it can from the globalisation the gap among the poor
and also rich class people enhanced.
b) Technology is very helpful in increasing the productivity and goodwill of business.
The Johnson & Johnson business organisation used the Kaizen technology for make
improvement in its operations (Kwong,Thompson and Cheung, 2012). With the help of
this technology, an effectiveness and also efficiency of business will be increased. It is a
kind of technology, which helps in rising the operations of retail company. The main
motive of this is to eliminating the additional wastage and rising the programmes
related to the standardization. It is helpful in increasing the productivity of business.
The Kaizen is a type of software that helps in increasing the revenue of company. With
the help of using this technology, the additional cost on the clothing production will be
minimized. Johnson & Johnson business enterprise uses this technology for making its
business effective and also productive.
Week Task 3 Word
Count
Learning
Outcomes
Week
6-7
a. Briefly identify who your ‘customer’ is likely
to be. Why is it important for a business to
understand its customers?
b. Describe TWO ways in which you might
5 LO1/3
EBWO3001 | Effectiveness in Business World 5

attract more customers to your business.
Your answer should go in the box below.
A) Customers plays a necessary role in making the business successful. In context to
this, it is the responsibility of company is to satisfy the needs and wants of consumers
by providing them good quality of goods and also products. It is necessary that the
customers should be quality demanded and also have the ability to purchase the
products. It is necessary that the demand of customer should be good. Each and every
business have more than one kind of consumers. At the store of clothing, there are
many types of customers come for purchasing the different types of clothing (Nguyen,
2012). The first priority of business is to provide the better quality of clothing and also
deal with them in an effective and proper manner.
It is essential for business is to understand the needs of people in a proper manner so
that it will be easy in satisfying the needs and wants of people for company. It is
necessary to understand customers because from this company can identify their needs
and also provide them better product on the basis of their demand, for making them its
loyal customers and also capturing the large market share. These all are very helpful in
enhancing the productivity and also profitability of business in a better way.
B) The Johnson & Johnson organisation makes effective and unique business related
strategies in order to attracting the large number of customer. The two effective and
attractive ways which is used by the Johnson & Johnson firm for attracting the large
number of people are low pricing and providing qualitative designer clothes.
Low costing- It is very effective and beneficial methods in context to attracting the
more number of consumers. Under this, Johnson & Johnson enterprise provides its
clothes at the minimum cost. But this company used the gives the many effective offers
and discounts to people on the clothing. From this many people will buy the products of
this firm. It is a best method of attracting the people. It helps in increasing the sales and
also productivity of this firm.
Providing qualitative designer clothes- Customers always want the quality products
at the reasonable costs. If the quality of product will be good, then it will be beneficial
for business. For attracting the large number of customers, Johnson & Johnson
enterprise take care the quality of its product (Rockstuhl and et. al., 2011). It gives the
designer clothes to all segment people at the minimum cost as comparison to its
competitors. With the help of this sales will be maximised and customers will be loyal
towards this business organisation.
EBWO3001 | Effectiveness in Business World 6

Why is business ethics important?
Week Task 4 Learning
Outcomes
Week
8-9
a. What is the role of ethics in business?
b. With examples from other businesses, describe
how your business can treat its staff ethically.
LO3/4
Your answer should go in the box below.
A) Ethics refers to the set of rules, principles, norms which company should be
followed. It is the duty of manager is to manage and also control the business ethically
otherwise its impact will be bad on the business productivity. An ethics refers to the set
of moral principles. It can impact positive as well as negative on the business. The
unethical practices related to the business can damage it. From this, the productivity and
sales of company can be minimized (Scherer and Palazzo, 2011). So, in order to
develop the positive impact, there is a need to company to do its business operations
ethically and legally. The main role of ethics in business is that, from this manager can
take the decision morally or can say ion the favour of company as well as staff
members. So, it is necessary for Johnson & Johnson business organisation is to always
conducts its business ethically. It will impact good on the business.
b) Employees are the main and also essential part of an organisation. It is the duty of
top management is to lead employees in an effective and proper manner so that they can
perform better. The productivity of business is depending on the employees. If they
will not work properly and the growth of company will be reduced.
For an example- there is a XYZ company which provides the safe and healthy working
EBWO3001 | Effectiveness in Business World 7

environment to its staff members, timely provides the wages, provide training, include
them in decision making process and also motivate them (Nguyen, 2012). In this
manner, Johnson & Johnson business organisation can deal with its staff members
ethically, it will be beneficial for the business. With the help of this employees will
have satisfied from their job and also will be loyal towards company in future context.
They will work on achieving the business objectives in a particular period of time.
References:
Bhuiyan, S.I., 2011. Social media and its effectiveness in the political reform
movement in Egypt. Middle East Media Educator. 1(1).pp.14-20.
Chhokar, J.S., Brodbeck, F.C. and House, R.J. Eds., 2013. Culture and leadership
across the world: The GLOBE book of in-depth studies of 25 societies.
Routledge.
Guillén-Nieto, V. and Aleson-Carbonell, M., 2012. Serious games and learning
effectiveness: The case of It’sa Deal!. Computers & Education. 58(1). pp.435-
448.
Kolodinsky, R.W., and et. al., 2010. Attitudes about corporate social responsibility:
Business student predictors. Journal of Business Ethics. 91(2). pp.167-181.
Kwong, C.C., Thompson, P. and Cheung, C.W., 2012. The effectiveness of social
business plan competitions in developing social and civic awareness and
participation. Academy of Management Learning & Education. 11(3). pp.324-
348.
Nguyen, B.D., 2012. Does the Rolodex matter? Corporate elite's small world and the
effectiveness of boards of directors. Management Science. 58(2). pp.236-252.
EBWO3001 | Effectiveness in Business World 8

Rockstuhl, T., and et. al., 2011. Beyond general intelligence (IQ) and emotional
intelligence (EQ): The role of cultural intelligence (CQ) on cross‐border
leadership effectiveness in a globalized world. Journal of Social Issues. 67(4).
pp.825-840.
Scherer, A.G. and Palazzo, G., 2011. The new political role of business in a globalized
world: A review of a new perspective on CSR and its implications for the firm,
governance, and democracy. Journal of management studies. 48(4). pp.899-
931.
Online
Why is business ethics important?, 2017. [Online]. Available through:
<http://www.investopedia.com/ask/answers/040815/why-are-business-ethics-
important.asp>. [Accessed on 4th November, 2017].
End of Portfolio
EBWO3001 | Effectiveness in Business World 9