Enterprise and Innovation Essay Example | Topics and Well Written Essays - 1500 words

Enterprise and Innovation - Essay Example We can categorize age structure as per preferences of the population in a particular age group. Thus we can have the various sub-groups as – 15 to 19, 20 to 29, 30 to 49 and 50 and above. We can safely assume that people falling in these sub-categories of age groups will have more or less similar preferences and hence we can target our products as per these 5 segments. An important point to note is that the population in the segments 15 to 19 and 50 and above will have more leisure time as compared to the other two which fall in working age group. These segments will have more time during the week-ends. Looking at the timings of the games, we have 3 week-ends between 27th July and 12th August 2012 (the period scheduled for the games). Thus, we can introduce products as per following plan: Based on the tastes of the various age group segments different flavors have been introduced. People in the age group of 15 to 19 would prefer the flavors mentioned above. People above 50 years tend to get digestive problems and hence the products mentioned for their category will appeal to them. 20 to 29 years age people are more experimental and nor very money conscious. Hence, new flavors not introduced so far will appeal to them. And finally people in the age group of 30 to 49 are generally more health conscious and hence would prefer fruit based drinks which do not have the ills of carbonated drinks and at the same time will also be healthy. The Price elasticity of Demand (PeD) determines how sensitive the demand for a product is to changes in prices. We will look at the general factors impacting all products as well as factors that are specifically impacting Coca-Cola at Olympics. 1. Substitute availability: Coca-Cola has direct competition with its substitute – Pepsi. Both are similar in taste and thus have very high PeD. Moreover in UK Coke has a direct rival Robins. This

Drawing on current academic theory and debate, critically evaluate the Essay

Drawing on current academic theory and debate, critically evaluate the contribution of the Human Resource Management function to the management of employee reward practices - Essay Example Throughout the whole XX century and even earlier both practitioners and scholars attempted to design the theories explaining human behaviour at work and the ways to raise its effectiveness. A good insight into the value of HR related programs is provided by Schuler (1990: 52-54). He emphasizes that the HR function had an opportunity to shift from being an â€Å"employee advocate† (associated with personnel management) to a â€Å"member of the management team†. Schuler’s (1990) view was that this required HR professionals to be concerned with the profits, organizational effectiveness and business survival. In other words, human resource issues should be addressed as business issues. Storey (2001: 18-34) believes that emergence of HRM contributed greatly to an ever-greatest since industrial revolution shift in the principles of management. HRM encouraged both managers and employees to get rid of traditional patterns of interaction, outdated ideas of motivation, stereotypes, assessment and appraisal. Managers ceased to be mere mentors and executioners and turned to be the members of business teams. Introduction of HRM principle has made modern companies more competitive, dynamic and people-friendly that consequently influenced their efficiency and marketability. Therefore, many believe that HRM caused what was later called â€Å"a new managerialism† – a new look on organization, the ways it functions and succeeds and the way its employees work (Storey, 2001, p. 18). At the same time, HRM is not just a set of principles; it is rather an organizational science that helps to implement company’s general strategy in a most effective way. Thus, according to the most conventional definitions HRM is defined as a â€Å"system that is tailored to the demands of the business strategy† (Miles and Snow, 1984, p. 36-37); or â€Å"the pattern of planned activities intended to enable an organization to achieve its goals† (Wright and McMahan, 1992, pp. 343-345).