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Fast Food Industry - Free Essay Example

Introduction The fast-food industry has been developing rapidly and has successfully penetrated majority of the markets globally, at the same time bringing about several significant changes in practices, work and employment relations. Fast-food restaurants are distinguished and characterized by their inexpensive food products prepared in a standardized method that is dispensed to their customers quickly and efficiently for takeaway or dine-in and are usually packaged without the provision of utensils. However, the rapid expansion and proliferation of the industry was not a smooth transition, instead, it has brought about several controversies and criticisms. Such growth and success has brought disadvantages to workers’ rights, wages and the conditions of work (Royle Towers, 2002) as well as providing a greater insight on how work and employment relations should be better managed. In addition, it also brought to light that not all protocols, standards and practices of the fast-food company fits the different markets globally perfectly, due to the different cultures, mindsets and preferences, which we will be exploring in depth in this essay in particular, the fast-food industry in Singapore, Germany and United States. Even though major corporations were to set up fast-food restaurants in the listed countries, similarities and differences will arise and we will discuss this in the essay. The Fast-Food Labour force The fast-food industry has showed several trends in their employment practices in different countries with each workforce showing distinct characteristics. This is because the fast-food companies generally tend to aim the flawed and insignificant group of the labour market, with majority of the employees being inexperience, low-skilled, young and easily replaceable labour. In addition, due to the nature of this industry, the job scope is highly standardized and repetitive, thus it is seen to be a job that has low and unpromising fut ure prospects. It has also played a big role in causing the proliferation of insecure, unstable, part-time and low wage employment. We will now look into the similarities and differences between Singapore and the 2 other countries’ fast food industry, using a good example by McDonalds’. First of all, Singapore and United States’ labour force shows parallels in the type, nature and mindsets and displayed high labour turnover rates. The Singapore fast-food industry labour force is generally made up of a range of different age groups with differing qualifications. For instance in restaurant outlets, restaurant managers are usually secondary school leavers and the crew members usually hold low education qualifications. However employees working in the headquarters are experienced, skillful and highly qualified often graduates or those who had previous managerial experience. The employees based in the headquarters are offered better employment benefits and pro spects as findings showed that each executive has an individually negotiated employment contract (Pereira, 2002), and they tend to deal with more challenging and more enriching jobs. However, employees in the outlets see their job in McDonalds’ as a short-term temporary job with no promising future prospects and as large percentage of the part-time crew consists of students, they will leave the job upon graduation or if they found a better job with better prospects, permanent and with better benefits rather than continue working with McDonalds’. Even so, McDonald’s attempted to retain their youth employees – restaurant managers especially, by treating them like ‘professionals’, having more professional seminars but they eventually did not stay long. Due to Singapore’s changing demographics, low birth rates and the fact that more individuals are graduating higher educational qualifications- a degree, the labour pool that McDonalds ’ can tap into has become relatively much smaller thus they have turned to employing the elders whom to, are pleased and have accepted the low wages and lesser employment benefits for the convenience of work location, less commitment and the simplicity of the jobs. This is when the pattern of the labour shift to the elderly, as by late 1990s, 40 per cent of all employees in McDonalds’ are elders consisting of housewives or retirees (Royle Towers, 2002) and partly because it was illegal for foreign workers to work in fast-food industry. True enough, for the case of United States, their abour workforce is made up of youth too, as shown in a 1994 study that almost 70 percent of fast-food workers were 20 years old or younger (Van Giezen, 1) and most of them have low expectations on their salary, employment benefit and sees their job as temporary (Leidner, 2002). Similar to Singapore, their labour workforce also consist of elderly as well as women with children employee s that shares the same expectations as that of the youth employees. This is usually due to their preference for part-time job. Majority also proceed on to other better jobs as they perceive it to be a temporary one. Thus, we can see that United States have generally a younger labour force, due to the society’s general mindset that a fast-food job is a appropriate first job experience and the fact that there’s no requirement for skilled experienced employees, thus, displaying the similar traits in the age and type of labour force of the fast-food industry for both Singapore and United States. On the contrary, the labour workforce differs greatly between Singapore and Germany. As discussed in the above part, we distinguished that Singapore has a more elderly workforce with lesser youth employees and no foreign workers employed. In addition, the labour turnover – as compared to Singapore, is not high. This is because a large percentage of the labour in German y is made up of ethnic minorities – foreign workers, economic migrants from the old Eastern Bloc and guest workers mostly from Turkey and Greece (Royle, 2002). The economic migrants and guest workers took up a large percentage – 50 percent to 90 percent of the workforce, unlike that of Singapore’s- where foreign workers are not allowed to work in the fast-food industry. Employee representation in the fast-food industry Employee representation varies between different countries and the state laws and regulations may be more pro-employees or pro-employers, which will be explored in paragraphs below. Employee representation comes in the form of trade unions, work councils, co-determination and collective bargaining. Trade/Work unions are †¦.. As the industry expands rapidly, it gives rise to an unhealthy employment environment where there’s no prospects for future growth or promotion in their career, poor wages and benefits, stressful environment and these usually takes place in a union-free environment (Royle Towers, 2002). Companies are increasingly denying employees their rights and benefits and the situation is aggravated without the presence of trade unions or favorable employees regulations, as employees might be unable to voice out their concerns or request for their employment rights. In this case, Singapore and United States are similar as both nations have the least regulated systems (Royle Towers, 2002) and their laws and regulations are seemingly to be pro-employers. In Singapore, since its independence day – industrial peace is the main objective from the creation of the legal framework and unions can only be formed under conditional rules and under the judgment of the Labour Minister (Deyo, cited in Pereira, 2002). In addition, Singapore is described having a ‘authoritarian corporatist model’ where they view politicized trade unions as a threat that will unstable the political system as well as a group that might collude to request for outrageous demands. As labour is a precious and essential resource of Singapore, they learnt from the problems before 1995 that strikes, interunion disharmonious relations and political interference has contributed a lot to the decline of the economy. Thus, the government has decided to reinforce labour laws and regulations to ensure industrial peace (Tan, cited in Pereira, 2002). However, the Industrial Relations Act did not include issues such as retrenchment, promotion, dismissal, work assignments and such terms are to be negotiated between the employers and the employees (Pereira, 2002). This showed that the laws in Singapore gave power to the employers. However, there are still some areas that the government has set aside to protect the basic rights of the employees such as stating down their work hours, number of paid annual and sick leave, and overtime rate. The government has also made the National Trade Union Congress (NTUC) the only national union body of Singapore and all unions had to be affiliated with them (Leggett, cited in Pereira, 2002). NTUC also worked with the National Wage Council were they discuss with the government, employers and employees to assess the wages annually and revisions of wages and guidelines will be generally be adopted by large multinational and local corporations. For the employees, they have an option to join a union (Tan, cited in Pereira, 2002). An excellent example would be the employees in McDonalds’. They believe that unions are not required, as they have their own Human Resource Management Programme that helps keep their workers appeased and promote loyalty within them to the company. However, the workers have never considered a collective representation as firstly, it is not necessary for them to join a union, next is because they are pleased with whatever has already been offered to them in terms of wages and benefits. Similarly to United Stat es, the employers in the fast-food industry have the upper hand in determining the conditions of employment as there is very little presence of trade unions and strict regulations, thus allowing them more freedom to implement their own rules. Technically, the workers have no or little rights to their employment and the employers have ‘no legal obligation of fairness’ (Leidner, 2002), thus showing similar pro-employer labour regulations traits as Singapore. However, one distinct difference is that workers in America are not protected with basic rights, unlike Singapore workers, as paid vacations and paid holidays are provided at the discretion of the employers and not legally mandated (Rasnic, cited in Leidner, 2002). The stressful and competitive environment of the fast-food industry in United States, bundled with the employer-bias regulations has disadvantaged the employees greatly. Even though the workers are unhappy and discontent with their job, it has not led to result in unionization. This is due to the young and inexperienced work not educated about unions, has came to terms with their wages and benefits as they have low expectations, sees the job only temporary, and are unsupportive of labour laws (Leidner, 2002). One other reason for the lack of unionization is because of the resistance by the fast-food corporations, who openly declared that they are anti-unions. In conclusion, even though Singapore and United States showed slight differences, it generally showed a greater similarities in terms of how the regulations are pro-employers, the reason of the lack of unionization and how fast-food corporations are technically undaunted by unions, or the lack of it, and are able to actively promote their own set of corporate regulations for work and employment relations. As compared to Singapore, the German system can be seen as being the opposite end of the spectrum as far as workers’ rights are concerned. Germany has a highl y juridified industrial relation system complete with formal legalization of trade unions and a comprehensive system of work councils suggests that it might be one of the better development of employee representation (Royle Towers, 2002). Basically, employees in Germany are supported by the work unions, unlike that of Singapore where most regulations are employer-bias, and union participation in optional. However, even with such systems implemented in Germany, the unions encountered barriers to increase workers’ benefits, wage levels, forming union supported work councils and ensure that the companies comply to the collective agreements. For instance, McDonalds’ has effectively managed to evade collective agreements and defy work councils for 18 years and counting, showing the difficulty of work force to have a say even with the presence of work unions. Another difference between Singapore and Germany is also how the fast-food corporations work with the unions. In Singapore, the laws are favourable for them as it employer-bias thus they are able to instill their own practices and methods for employee and work relations. On the other hand, German national fast-food companies usually adopt co-operative methods and relations to deal with the unions even though some still take an anti-union position (Royle Towers, 2002). Eventually, they are still able to turn the tables around, evading strict rules and able to set their own systems and practices.

Julius Caesar’S Rise To Fame. Was It True That All Roads

Julius Caesar’s Rise to Fame Was it true that all roads lead to Rome? Many historians say that the Roman Empire was the most outstanding empire in history because they were huge and populated. There were many great leaders in the Roman Empire, but Julius Caesar was one that stood out the most. Caesar installed many progressive changes and military conquests to help Rome thrive. Julius Caesar was the most outstanding emperor and conqueror for the Romans in 100 BCE because he had a strong military, led the Romans to many victories, many people thought different about him, and the other countries were intimidated by his incredible power. When Julius Caesar was in power over Rome, he was one of the strongest and most feared military leaders,†¦show more content†¦When they did this, they were trying to break the other army into different area so it was easier to beat them and to get past them (Maldonado). Julius Caesar was interested in the government since he was a child because his father was involved in the government frequently. â€Å"In 78 BCE, Julius Caesar became a prosecuting attorney† (A Timeline of the Life of Julius Caesar†). In 76 BCE, he was captured by pirates. Since he was in the government, when he got home he assembled an army and went and captured the pirates that captured him. Since they were the Romans, they punished the pirates by crucifixion. In 74 BCE, Julius Caesar put together a private army and went to attack the Mithradates VI, the King of Pontus, who was an important leader in the Roman Empire. Julius Caesar did this because the people of Rome were afraid of Mithradates VI ruining it. In 73 BCE, while Julius Caesar was away, he was accepted into the College of Pontifices. When Julius Caesar came back to Rome, he was elected military tribune. â€Å"In 68 BCE, Julius Caesar was elected quaestor† (A Timeline of the Life of Julius Caesarâ₠¬ ). â€Å"In 65 BCE, Julius Caesar was elected aedile† (A Timeline of the Life of Julius Caesar†). An aedile’s job is to do maintenance around temples and other buildings. The aedile also controls public games and market places. â€Å"In 63 BCE, Julius Caesar was elected Pontifex Maximus† (A Timeline of the Life of Julius Caesar†). This was the main priest of Rome’s religion. In 62 BCE,

The Role Of Peer Influence On Adolescent Behavior

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Institutions Investment Bank Connections -Myassignmenthelp.Com

Question: Discuss About The Institutions Investment Bank Connections? Answer: Introduction The report focuses on the marketing strategy and plan considering the business organisation ABUDHABI financial group as the case study in this report. The report will demonstrate how my role as a marketing manager will help the company to operate in the United Arab Emirates region and ensure production and proper delivery of products and services locally. The marketing objectives will be understood by understanding the strengths, weaknesses, opportunities and threats of the company, furthermore contribute towards the achievement of business goals and objectives (Abuelkhair et al. 2012). The PESTEL analysis will provide detailed environmental analysis about the company and the corporate social responsibilities will be illustrated here as well (adfg.ae 2017). The external environment includes the macro environmental factors that has created an impact on the banking and financial industry of UAE (Armstrong et al. 2015). The political conflicts can also result in deteriorating the organisational functioning by harming the ownership of oil and land reserves (Bord and Santos 2012). Because of UAEs good trade relations with many countries all over the world, it has become easy for Abu Dhabi financial group to sustain in the market place. The acquisition of 48.36 percent stake in Dubai based financial services sector was also successful (Ferrell and Hartline 2012). Economic The economy of the country is one of the major factors that has affected the business functioning. It has a high GDP per capita, though the rate of unemployment is considerably low in spite of the high level of Foreign direct investments. The monetary and fiscal components in business could also result in higher rate of inflation and depreciation and the increasing rate of interest might further contribute to the increase in inflation rate (Flammer 2015). Social Globalization is increasing and this has resulted in making an impact on the culture of the organization. Religion has also affected the societal matters, because of which, the Abu Dhabi financial group has delivered products and services according to the changing needs and preferences of the customers (Golubov, Petmezas and Travlos 2012). Technological In UAE, the young adults are tech savvy, which has helped in leveraging the technology and purchase new technological equipments and machineries for improvement of services and quality of products delivered. With the implementation of technology, Abu Dhabi Financial Group has been able to communicate with the consumers easily and even assessed their negative feedbacks to make necessary improvements (Griffin, Shu and Topaloglu 2012). Legal The legal requirements were managed to ensure management of financial markets properly and ensure that the various rules and regulations that are imposed can bring positive impacts on the organisation. There are not many legal factors that are associated with the business functioning, because of which, the laws that are implemented have allowed the organization to maintain a good and stable condition within the business environment (Kamarulzaman and Madun 2013). Environmental The environmental policies and procedures are implemented to minimize the effects of environment and promote environment friendly prospects for maintaining a clean and healthy environment. Sustainability measures were undertaken to maintain ecological balance in nature. Impact weights Factors Ratings Political -2 Economic 4 Social -1 Technological -2 Legal 3 Environmental 4 Total 6 Final index was derived by dividing the total ratings with 24, i.e., 6/24. The calculated result is 0.25, which is greater than 0.45 and thus it is understood that w the company which operates within the macro environment is favorable. Overview of the organisation The mission and vision of the organisation is to promote innovation, value and agility. Abu Dhabi Financial Group is an established Emirati investment company that has its headquarters in Abu Dhabi. It was founded in 2011 and the CEO is Jassim Alseddiqi (Mihart 2012). It is the leading global investment group that provides lots of investment opportunitiesto the investors including various corporations, financial institutions, government and individuals. The financial investment sector has been revolutionized, which has delivered an interest rate of 27 percent to the stakeholders. Financial performance The company has also experienced enhancement in value creation across the real estate and financial services and the assets have been worth US$5bn. The company has a good financial condition and it has huge numbers of assets that are worth quite high in value as well (Morgan, Katsikeas and Vorhies 2012). Marketing performance With the expansion of new assets, sustained value creation and delivery, ADFG remained consistent and generated exceptional returns. The marketing performance is enhanced through devising of strategies and screening the opportunities and scopes to verify the actions undertaken. Marketing goal and objective The marketing goal or objective of Abu Dhabi Financial Group was to launch funds on the global market of Abu Dhabi to manage the equities with a proper risk or reward profile. The marketing goal and objectives also included developing an effective investment strategy and enable constructivism to deliver returns more than 120 percent (Mullins, Walker and Boyd 2012). Corporate social responsibility pyramid The company has focused on contributing to the community by providing better scopes of employment and furthermore aligned the CSR goals and objectives with the core business activities. The CSR activities are associated with the stakeholders in business, which has further contributed to the sustainable activities and this allowed the company to emphasize on social issues related to the children, environment and local communities in UAE (Ng et al. 2012). Economic To improve the welfare of business and generate good level of profit, financial innovation is evitable and the company has been acting according to the economic factors. Because of the changing needs and interests regarding finance, the investment banks need to be economically viable to managing risks and utilize the resources properly. Managing communication with the stakeholders could also enable the company to fulfill its economic responsibilities and comply with these kinds of factors. Legal There are legal responsibilities too for maintaining safety of the financial system and thus the company has complied with the support provided by the legal bodies to ensure proper management of foreign account tax related matters (adfg.ae 2017). The organisation has complied to the factor for managing safety of the financial system. Ethical The ethical issues arising within the investment bank sector could be manipulation of credit ratings, lack of selling of products, inappropriate trading and over leverage capacity. The ethical norms and rules are implemented according to the demands and preferences of the business stakeholders to maintain honesty and sincerity and obtain stakeholders trust. Fairness and transparency must be enabled to meet the expectations of stakeholders and support the development of good culture and ethical business practices. Thus, it is true that ADFG has complied to the factor and fulfilled the ethical responsibilities properly (Ormrod, Henneberg and OShaughnessy 2013). Philanthropic Customers, being the most important business stakeholders expect good quality products and management of information while the staffs of ADFG want good working conditions and a positive culture to promote growth and development. Based on the principles within the investment bank sector, responsible investment should be done for ensuring that the financial products and services were bought. It could be understood that ADFG had complied with the philanthropic or discretionary responsibilities properly (Nobanee 2014). Main target for the specific products The main targets for the investment product are to set up investment accounts with the niche investment banks and ensure proper management of stock, bonds and other investment related activities. The bank could also market the investment solutions to the existing customers of the company with huge numbers of benefits. The major services provided by investment banks are trading and promotion of securities along with management of individuals and companies based on the investments made (Saeidi et al. 2015). Competitive analysis The major competitors are SHUAA Capital, Goldman Sachs, Emirates Investmnet bank, whose performances are high with the higher prices of services. The high performance and low price products and services are offered by ADFG itself and there is Emirates Capital Limited, UAE. The companies that fall under the high price but low performance are YUSR Islamic Investment Bank, Nomura International, etc. whereas the low price and low performance banks are Abu Dhabi Investment House, Merrrill Lynch Bank, etc (Stowell 2017). Critical success factors and SWOT analysis ADFG is known for its widespread expertise in various sectors such as real estate, capital markets and debt financing that has managed the financial services and created scopes to enhance the flow of cash in business (Stowell 2017). Strengths Abu Dhabi Financial Group has a strong lending network and manages huge amounts of investments in UAE by capitalizing on the market across the financials sectors in UAE. The company has involved in brand promotion strategies, which has strengthened its brand image and name and with its strong network of distribution. It is also one of the most liquid banks in UAE with good capital adequacy ratio and diversified streams of revenue (Abuelkhair et al. 2012). The performance of the company in the areas of treasury management and divisions of investment is also good along with its extensive research and development activities to. Weaknesses The low perception of corporate social responsibility is another weakness whereas variable revenues are generated because of the market fluctuations at a rapid rate. The reduction in prices of oil and strict liquidity conditions have also created weaknesses for the company to sustain in the market place. The rate of attrition is quite high which is another weakness of the company too (Ferrell and Hartline 2012). Weaknesses turned to strengths To overcome the threats, the weaknesses should be turned into strengths and enable ADFG to grow in a mature market by increasing the market share. The company can keep the prices of products and services higher and sometimes lower to enter new markets and create a positive mindset among the people, though not compromising on the quality. The company could provide additional benefits to customers based on the investments made and even provide them with a handsome amount of return according to the funds that they had deposited (Bord and Santos 2012). Opportunities The major scopes and opportunities include expansion in the developing economies and development of custom ESG and impact investment for making the investment banking functions successful. The high demand for investment banking has also created enough opportunities for the organisation to deliver the best quality services for the fulfillment of customers needs and requirements. The international expansion would create new synergies for ADFG and expand the customer base, which could further lead to better financial stability and reduced chances of risks (Flammer 2015). Threats There are various tax reforms in UAE that have affected the business functioning of Abu Dhabi Financial Group whereas the competition by other investment banks have posed major threats to the company. There are other threats of non-financial risks too, which have deteriorated the effectiveness of business functioning for ADFG in United Arab Emirates. There was credit market crisis, which increased the cost of borrowing and decreased the flow of cash to the shareholders or investors in business (Golubov, Petmezas and Travlos 2012). Converting threats to opportunities By developing trust and loyalty, the negative effects caused due to the property taxes would be reduced and right prices should be set for the products and services to ensure customer satisfaction. Abiding by the laws, rules and regulations could also help in keeping costs under control whereas offering discounts on loans would also be beneficial for experiencing good flow of cash. Management of electronic payments could increase the cash flow and maintain good relationships with the suppliers too. Value proposition The investment bank must also focus on the development of new assets, keep tight margins for attracting more customers, and enhance the profit level. The value proposition of the organisation lies in the fact of maintaining growth strategy to keep the shareholders satisfied and maintain good financial condition too. The value proposition could be induced by planning for acquisition in the Arabian Gulf region and develop its portfolio to foster the investment banking activities and accomplish the goal of obtaining authorized capital of more than $100 million. Marketing issues The issues faced by ADFG were lack of ability to change, facing difficulties in improving the global structural reform and inefficient application of trading commissions. The return on investments is not up to the mark always, as expected before making investments. The liquidity ratio often creates issues for the investment banking sectors too. Promotions and advertisements were not done properly, which further deteriorated the brand name and image (Kamarulzaman and Madun 2013). Brand perceived by the target market ADFG has focused on the value and growth across the financial sectors. After the establishment, the expansion of Abu Dhabi Financial group has helped to deliver the best quality services to its customers. There are multiple assets, which are being managed for 3.5bn, and this has enabled the company to create strong records of accomplishment and pioneer approaches to make investments successfully (Mihart 2012). Differentiation The differentiation strategy is implemented to differentiate the products and services of the organization from any other company in the market. This would also help the customers to understand the differences between the products of two different companies and compare those before purchasing those. The advancement of technology and other sustainable approaches have made the company set its products and services apart from other company products, furthermore allowed to attract more customers and generated more profit in business. Positioning The positioning is done by selling the stakes of ADFG in line with the Dubai Groups restructuring agreement and this has made the company one of the proud partners in SHUAA Capital. The positive brand image, portfolio of compelling yet best quality services, loyal base of customers and good management team have further made the company well positioned for becoming successful in the future as well (Ng et al. 2012). Conclusion The marketing strategy and plan was developed for Abu Dhabi Financial Group by making an assessment of the various external and internal factors by using the PESTLE and SWOT analysis respectively. Due to the good trade relations in UAE, Abu Dhabi financial group has sustained in the market place with ease. To manage proper CSR activities, the company had prevented societal issues, focused more on sustainable approaches, and provided benefits to children. Moreover, ADFGs marketing strategy and plan had brought several benefits for both the company and its customers. Recommendation It is recommended to manage the assets properly for generating more profit and allow the company to gain competitive advantage in business Because most of the people in UAE are tech savvy, it is recommended to leverage technology and enhance the quality of services It is recommended for the investment bank to separate and focus more on the core competencies The organisation must also undertake various environment friendly approaches to create positive impact on the environment as well as benefit the society largely. References Abuelkhair, M., Abdu, S., Godman, B., Fahmy, S., Malmstrm, R.E. and Gustafsson, L.L., 2012. 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McGraw-Hill Higher Education. Naser, K., Nuseibeh, R. and Rashed, W., 2013. Managers' perception of dividend policy: Evidence from companies listed on Abu Dhabi Securities Exchange.Issues in Business Management and Economics,1(1), pp.001-012. Ng, I., Parry, G., Smith, L., Maull, R. and Briscoe, G., 2012. Transitioning from a goods-dominant to a service-dominant logic: Visualising the value proposition of Rolls-Royce.Journal of Service Management,23(3), pp.416-439. Nobanee, H., 2014. Working capital management and firm's profitability: an optimal cash conversion cycle.International Research Journal of Finance and Economics. March (120), pp.13-22. Ormrod, R.P., Henneberg, S. and OShaughnessy, N.J., 2013. POLITICAL MARKETING. THEORY AND CONCEPTS.Politics,26(2), pp.110-118. Saeidi, S.P., Sofian, S., Saeidi, P., Saeidi, S.P. and Saaeidi, S.A., 2015. How does corporate social responsibility contribute to firm financial performance? The mediating role of competitive advantage, reputation, and customer satisfaction.Journal of Business Research,68(2), pp.341-350. Stowell, D.P., 2017.Investment banks, hedge funds, and private equity. Academic Press. adfg.ae. (2017). Home. [online] Available at: https://www.adfg.ae [Accessed 3 Dec. 2017].