Saturday, May 23, 2020

Digital footprint of the wealthy corporation - Free Essay Example

Sample details Pages: 9 Words: 2555 Downloads: 4 Date added: 2017/06/26 Category Marketing Essay Type Research paper Did you like this example? To analyse the digital footprint of the wealthy corporation and to find indentify their DNA prospect, a survey form  [1]  is created. After filling this survey form, corporation leave their digital footprint, which can be analyses from the feedback. Here, corporation is using active digital footprint [Chapter-4] for feeling this survey. In this survey, corporation need to answer nineteen questions regarding their characteristics and some other demographics questions. Feedback of this survey is open as an excel model. By putting the feedback of a survey in a web application provided by Organizational DNA  [2]  , the DNA of a corporation can be determining. These nineteen questions cover all the four characteristics of the organisation DNA: structure, decision-rights, information and motivator. Based on the individual response of each questions, his or her organisation is classify as one of the seven types. Below there is an explanation of all the questions: Average number of direct reports at the middle management level is this question say, as the middle level of the management is important to handle the structure of the organisation. Therefore, if the average numbers of direct reports are more at middle level, will it be beneficial for the management or less number of direct reports is beneficial for them. Did promotions include lateral moves this question ask did promotions in a company admit any lateral moves or not, when they are going to promote for the same level of hierarchy. Is the promoted employee is working as same, in terms of responsibility, as he/she left before. Fast track employees here can expect promotions this question ask about the employees who works rapid means to achieve their goal, do they expect any promotion and if they so in how many years it take to get promoted. The culture of this organization can be described as this question asking about the decision rights and the culture of the organisat ion, the environment of the organisation is persuade and cajole or control and command. Operational decisions and important strategies are quickly translated into action this question ask how the organisation is dealing with their operating decisions and strategies, do they quickly convert them in actions or take time to review on it before converting. This question is very important in this survey as its result show whether the organisation is healthy or unhealthy. The primary role of corporate staff here is to this question ask whether the corporate staff of the organization likes to audit their business unit or support their business unit. Managers above me in the hierarchy get their hands dirty by getting involved in operating decisions this question ask that do the top managers involve themselves in the operating decisions of their hierarchy. Once made decisions are often second guessed here it is asked once the decisions are made by the organisation, do they re view their decision again or they agree with the decision at once. Did everyone have a good idea of the decisions and actions for which he or she is responsible this question ask about the corporate staffs that, are they liable to handle the responsibility. Is everyone having a good idea about the decisions and actions for which they are responsible? Overall this firm deals successfully with discontinuous change in the competitive environment sometimes it happen that company does not handle the unsystematic changes such as strike, nationalisation of assets or unfavourable judicial proceeding in the competitive environment. Therefore, in the question it asks, whether the organisation is productive or not to deal with any unsystematic change appear. Important information about our competitive environment gets to headquarters quickly it happen that the staff of organisation does not share an important information or problem with their top management or might get late to inf orm and try to deal with it by themselves, therefore, it happens that the organisation might face some affect of it in future. That is why, in a question it asks do the important information get to headquarter quickly, so that, head quarter makes decision to deal with it. Field or line employees normally have the information, they need to understand the bottom line impact of their day to day choices this question ask whether the field or line employees of the organisation like to share the information with their top management or not. They need to realise the impact of information in their daily life when they were sharing. In a healthy organisation, mostly there is no gap between field/line employees and the top management. We rarely send conflicting messages to the marketplace -in this question it says that, as to get a response from the market sometimes companies send some internal information about their company to the marketplace, which might not be true. Due to which th eir share prices get fluctuate and it benefits the company or vice-versa. Information flows freely across organizational boundaries in this question it ask that is the company is flexible to spread the information about the internal and external affair outside their boundaries. As some companies gets peculiar to share their information with market. Line management has access to the metrics they need to measure the key drivers of their business in this question it ask that as the line managers of the organisation has accession to directly contribute to the output of service or product. Do the company also allow him/her key issue of their business? If the firm has a bad year but a particular division has a good year the division head would still get a bonus sometimes organisation does not perform well whole year, but some department of the organisation has good year and they expect to get bonus. If they do not provide them bonus it might demotivate their employee and they may not give their complete effort in future. Therefore, to keep their employees unit and motivate, organisation have to provide them incentives like bonus. Besides pay many other things motivate individuals to do a good job this question say that, motivation include more than money, it cover all the bonus, opportunities and objectives for the employees. These honours can promote the employees to coordinate their aim with the organisation and provide them profit. The individual performance appraisal process differentiates among high adequate and low performers here it is says that do the organisation appraise their employee individually for their performance. By this process, organisation might differentiate their low performance employees with the adequate employees. However, it may also motivate the employees to perform well. The ability to deliver on performance commitments strongly influences career advancement and compensation this question says that, commitment of employee to their organisation strongly regulate them for their advancement in their career. Organisation appreciates the performance of their employee, which motivate them and help in advancing their career. DEMOGRAPHICS: Demographics include the attributes of the organisation, which give some general information about it. These attributes are: ATTRIBUTES VALUES Turnover  £2m + Directors No more than 20 Shareholders No more than 15 Cash at Bank or Deposit  £100,000 + Reserves  £500,000 Profit Positive/Negative Type Of Company Private Limited/ PLC/ Limited Liability Type Of Work Investment/Trading Domiciled EU/UK/Other Industry Property/ IT/ Engineering or CAD/ high tech/ Finance and Insurance/Entertainment/ Design/ Legal and Accountancy/ Sports/ Investment company. How fast is your Organisations revenue is growing Fast/Average/Slow Result: By conducting a survey on 40 companies, it shows that more than half of the organisations are healthy (Resilient, Just in Time and Military Precision). The remaining companies are unhealthy (Passive Aggressive, Fits and Start, Outgrown and Overmanaged). Resilient Organisation is the most dominant organisational type. According to Survey, the results are: Type of Organisation Number of Companies with each Organisation Passive Aggressive Organisation 9 Fits and Starts Organisation 7 Outgrown Organisation 4 Overmanaged Organisation 1 Military Precision Organisation 1 Just In Time Organisation 7 Resilient Organisation 11 Here, Survey result indicates that the most of the companies are healthy. Most of the companies come under Resilient Organisation followed by Passive Aggressive and Just in Time Organisation and then Overgrown Organisation, whereas Overmanage Organisation and Military Precision Organisation have only one company. To compare the two main type of Organisati on these are Resilient Organisation and Passive Aggressive Organisation, it is observe that the Resilient Organisation is always agree that they successfully deals with discontinues changes in the competitive marketplace whereas Passive Aggressive Organisation always disagree with this point. The Resilient Organisation is also agree that their line management has an accession to the metrics they need to measure whereas in the Passive Aggressive they does not agree with this. In a Resilient Organisation, managers rarely involved themselves in operating decisions. If they frequently involving themselves in it, then they need to motivate their employees to do good job. Whereas, Passive Aggressive Organisation do not agree that their firm successfully deals with any discontinuous change in marketplace. Here, most the organisations agree that they have more than five average numbers of direct reports at their middle level of management and also agree that their promotions has lateral moves. Most of the organisations also prefer to have command and control type of culture in their organisation rather than cajole and persuade. Here, it also observes that in comparison to healthy organisations, the unhealthy organisations are always unable to convert important strategies and operating decision quickly into action. The characteristics of two unhealthy organisations that is, Overgrown and Overmanage Organisation is almost same but Overmanage Organisation does not allow promotion with lateral moves. As it mention in Chapter 3, that the Fits-and-Starts Organisation does not get strong direction from top. This can be seen in model, where it shows for the Fits-and-Starts Organisation that the top managers in the hierarchy of this organisation rarely involve themselves in any operating decisions. However, the culture of this organisation is pursue and cajole, it contain smart and intellectual people. The next organisation is Military Precision Organisation, there are very less companies, which work under this organisation because of its highly controlled management. This we can see in the model as well, which describe the culture of the organisation as command and control. The last organisation here to discuss is the Just in Time Organisation, whose believe in can-do attitude. The manager of this organisation frequently involves himself in different operating decision and motivates the employees for their adequate performance. 5.2) Model and result for Wealthy Individuals: To analyse the digital footprint of the wealthy individual a scorecard is created of 40 clients, which contain ten different attributes related to the clients. These attributes show the background of the clients. Each attribute is divided into categories and thus the points are allocated according to categories. These attributes are Age, Domicile, Family, Total Wealth, Annual Wealth, Taxable Income, Existing Pension, Non-UK Wealth, Existing investment portfolio and Ca sh on Deposit. Here, points allocated to categories of the attributes according to the frequency of the each category. Some attributes on which company needs to stress, as the points of its category will affect the scorecard of the client. For example, points allocated for the age 48-58 is 150, whereas point allocated for the 28-38 and 75+ is 90, which shows that frequency of 48-58 is more than 28-38 and 75+. It means clients whose age is between 48-58 are in more demand than client whose age is between 28-38 and 75+. The company will go for this age of client first rather than these two. Age is one of the main attribute in the scorecard, by looking on the age; company might easily predict what other attributes are going to be. Here, the average age of the clients is between 40 60. The company focus on the domicile and family attributes as well. It will be easy for the company to go for the clients who live in the same country in which the company located. Sometimes, when the co mpany is comparing two clients who have nearly similar attribute but not the domicile. Then most of the time company will go for the client who is more approachable. Let us take an example of customer 8 and customer 9; it can see that both customers have same score. However, customer 8 is from US and customer 9 is from UK. Therefore, for a company customer 9 is more beneficial than customer 8. Here, Family attribute is divide into single/small family and big/3 or more. The allocated points for big family is more than small family, as the probability of having more wealth is high for them. Nevertheless, the company mainly focus on the wealth of the clients like their total wealth, annual earnings, taxable income, existing pension, non UK wealth, existing investment portfolio and cash on deposit. Here, allocated points increase with the increase in wealth. Here, taxable income is taken yearly, means, how much tax a client pay in one year. Non UK domicile wealth includes clients inve stments in different countries, apart from UK. Existing investment portfolio includes the investments of the client in different companies. Here, average total wealth of the 40 clients is between 3M 5M. The ideal values of each attributes are: Attribute Values Age 28 75 Taxable Income  £60,0000 or Euro equivalent Existing pension or Retirement fund  £500,000 or Euro equivalent Total Wealth  £ 3m + Non UK domicile  £5m + Existing Investment Portfolio  £350,000 or Euro equivalent Cash on deposit  £250,000 + When the company gets all the attributes of the particular client, then allot the points to the client according to its attributes, after points allotted add all of them and then check whether the total points is higher than cut-off point or not. If the total points are higher the cut-off point then client is accept otherwise reject. In this scorecard, cut-off point is 1100. Now, if the clients score is above 1100 th en he/she will be accepting. This cut-off can be change as well, according to companys requirement. Let us take customer 6 and customer 7 from the model: Customer Age Domicile Family Total Wealth Annual Earning Taxable Income Existing Pension Non-UK Wealth Ex. Invest Deposit Cash on Deposit Result 6 48 UK 4 2.5M 250K 50K 265,000 150,750 300,000 200,000 Accept 7 39 UK 2 3.25M 250K 60K 0 150,000 150,000 150,000 Reject While keeping the cut-off of 1100, total score of customer 6 is 1140 and customer 7 is 1030. Here, it can analyse that even if customer 7 have higher total wealth and taxable income than customer 6, his/her total score is less than customer 6. Therefore, company will look for customer 6 than customer 7. Some clients in the model are having good total wealth, but because of their little contribution in other attributes, they have been rejected. By applying thi s model on 40 clients, it is found that with a cut off 1100, there are 32 clients are accepted and only 8 clients are rejected. However, if the company change its cut off from 1100 to 1200, then there are 29 clients are accepted and 11 clients are rejected. Here, further research can be made as the current format of model consider wealthy individuals and their assets but there are some couples own things jointly and though it should consider by dividing their values. For this situation, by using the excel model of individual client; some of the attributes among 10 has to be remove such as age, family and existing pension and add attribute such debt, insurance on a company, individual shares in the company. Don’t waste time! Our writers will create an original "Digital footprint of the wealthy corporation" essay for you Create order

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