Essay on Customer Loyalty

Value of Loyal Customers refers measuring the overall revenue and profit that the organization gets from the customers purchasing cycle to the people who use and consume the product or the service provided by you. The organization takes a deep interest in creating loyal customers on the basis of their service and quality. On the other hand, organization also strives to take the loyal customers of the competing organization to their side and make them a regular user of the product that they provide. Loyalty of the customer is very important to establish a fixed revenue of sales for an organization (Hallowell, 1990).

The loyalty of the customers is maintained by providing them with the promised quality at an economic price as compared to the other organizations that produce the same product or provide the same service. The organization develops strategies and organizes them accordingly to obtain the loyalty of the customers and ensure that they use the product and service provided by them on a regular basis irrespective of the products of any other organization without even considering them (Basu & Dick, 1994). The loyalty of customers is very much important since it provides the set of customers that are always going to consume the product or use the service provided by the organization. It can be applied to the organizations by providing recognition to the loyal customers and other related schemes, offers and benefits.

The organizations have been executing the flow of operations and development of schemes and offers in order to obtain the maximum customers and then, it will provide special and really useful concessions to the regular customers to turn them into loyal customers and the mode of promotion for the organization. Thus, the organizations calculate the importance of the Value of Loyal customer (VLC) and apply it to increase their profit and has following measures and advantages:

  • Repeat purchase by Regular customers
  • Customer Passing or recommending others
  • increase in turnover
  • Increase in Profit
  • Increased satisfaction of the new customers and hence forming a chain of references among the customers.

 

2) Mass customization in an organization refers to the adoption of computer aided and automated production system for delivering the quantity of products on the customer’s request for custom batches of the product. The mass customization is observed where the organization is capable enough to deliver the required quantity of product at the customer’s request and to fulfil the requirements in terms of quality as well as quantity serves to be the major challenge in performing the task (Pine, 1999). The main focus of the organization in executing the mass customization of the operations is to meet the huge demand of the customer in terms of production and carry it at the optimum economic cost.

The design that is adopted for the sequence and flow of operations and movement of the materials is to be analysed with respect to the outcome so as to obtain the most optimum and customized mode of production in the organization that will help to ensure that profitability and turnover of the organization is maintained.

Mass customization is observed in an organization where production is carried out in two ways which involve: a) delayed differentiation and b) modular design.

 

Delayed differentiation                                            Modular design

It is observed in an organization where the product is made first as the family product and then modifications are made in it.

 

It involves developing the actual product in a lot or a bunch and then modifying it as per the requirements of the customers and providing them with the leverage to choice the design.

 

It is observed in an organization where the production is divided into small modules and after production they are assembled.

 

It involves accurate and systematic division of the design of the product into manufacturing of the parts and then assembling them in the best possible technique.

 

It is most suitable for the manufacturing of clothes It is most suitable for the manufacturing of automobiles and its parts.

3) Quality function deployment (QFD) can be termed as a technique which helps to derive the quantitative parameters of the production from the qualitative needs of the consumers. It also involves considering the elements that are created and the components that are going to be produced from the customer point of view with the understanding that states that the demands that are put forth by the customer needs to be handled while developing and designing the product s (Akao, 2004). It helps to understand the requirements of the customers and transform the needs in terms of the product design and features.

Quality function deployment (QFD) to a specific product design is shown below:

It involves four phases which are:

  • Design-

It involves considering the customer’s requirements and evaluating the design of the product on the basis of that.

  • Details-

It involves coordinating the design requirements to the parts requirements which are going to be necessary for the product.

  • Process-

It involves considering the flow of operations that will be observed while carrying the production of the product.

  • Production-

It refers to the execution of the selected process and carrying the process of production as per the standards that are to be maintained and create a product that will satisfy the customer’s needs and in turn lead to huge sales of the product.

 

The customer’s requirements is taken as the input and reference for preparing the design. The elements and demands are analysed and developed while designing the product. After developing this, the output is in the terms of customer’s satisfaction of the product. The phases are very important in developing a design of the product and develop a product that will generate the maximum profit and sales in the organization.

 

4)  The production system is broadly divided into two categories (Yearnmin & Jinjoo, 1993):

  1. a) Intermittent production system:

It refers to a production system that follows a single line of production and the products are obtained at the end of the line following a specific sequence. Features of this production system is shown in below:

  • The flow of production in the intermittent system is not continuous as the product is produced in a line and hence the machines become free after producing or executing an operation until it gets the other production line in its queue.
  • Different variety of products can be produced due to the entire production of the product in flow and can be changed whenever a particular line is completed.
  • It is used where the volume of the products that are produced is small.
  • In this type of system, general machines are used and no specialized equipments in terms of the product development are not required.

 

  1. b) Continuous production system:

It refers to the production system that involves continuous production of a specific product without any kind of interruption.

The features of this type of production are as below:

  • The flow of operations is continuous as there is no halt in the production process.
  • The products that are developed are required to be following particular high standards for each and every component or part of the product.
  • Products are developed on the individual requirement of the customer in terms of the specification of the component which are assembled for the product.
  • Specialized machines and equipments for each and every component is utilized in the system

 

References

Akao, Y. (2004). Quality Function Deployment.

Basu, K., & Dick, A. S. (1994). Customer Loyalty: Toward an Integrated Conceptual Framework. Journal of the Academy of Marketing Science, 99-113.

Hallowell, R. (1990). The relationships of customer satisfaction, customer loyalty, and profitability: an empirical study. International Journal of Service Industry Management, .27 – 42.

Pine, J. B. (1999). Mass Customization: The New Frontier in Business Competition. Harvard Business Press.

Yearnmin, K., & Jinjoo, L. (1993). Manufacturing strategy and production systems: An integrated framework. Journal of Operations Management, 3–15.

Comprehensive Essay on strategic Alliances, Bnchmark Firm and Concurrent Engineer

Part 1
Describe the basic concept behind strategic alliances. In what ways can strategic alliances facilitate a firm’s quest for quality?
Strategies have become one of the most important factors in making any major event happen in the organization. Every organization needs to strategize their moves very carefully and choose them as the situation requires. In such a case, strategic alliance is one of the major moves that any company makes in its lifetime. The event marks as a definite milestone for any organization. When talking about alliances, it is important to understand that not every partnership or alliance has a strategic motive attached behind it, although most of the organizations today do so with that agenda (Wohlstetter, Smith, & Malloy, 2005).
Strategic alliance refers to the concept of forming a bond between two or more companies by agreeing on a set of rules, procedures and obligations that has to be followed by them and carry their individual business. The companies involved develop strategies through evaluation of the products and services that they offer and on the basis of that they develop a general agenda. This agenda helps to increase the productivity in the respective companies and creates a scope of expansion in the customer market by using the name of the other allied companies. The formation of strategic alliance is important from the point of view of creating a position in the market which has seen tremendous amount of variation in the needs and demands of the consumers. This helps the companies to enter a new market and serve as a competitor to the leading company by providing the users with a better product or service that provides the integration of both the company’s customer service and technology. This helps to create a niche in the local as well as international market for the companies (Culpan, 2009).
There are various reasons and factors that support the company’s urge to deliver a quality product or service through strategic alliances. The two major reasons why companies usually go for strategic alliances are to make sure that the core competencies of the organization are getting a boost by the alliance or when the goals and objectives of the companies are so aligned that they could profit a lot more if they allied with one another. While these factors are the major reasons for strategic alliances between two companies, the part about being strategic and formulating strategies takes place once the alliance takes place and the refreezing regarding the change takes place (Wohlstetter, Smith, & Malloy, 2005). Some organizations have well-formed strategies in order to address this transformation and a lot of agenda post that. There is a great amount of flexibility obtained through the strategic alliances in terms of high quality. It provides a growth in the strengths that the companies involved in the alliance have and a decline in the loopholes and other weakness elements. There are various sections where a huge amount of cost is saved without compromising the quality factor. This sections involve the research and procedure related to the development of product or service and this in turn improves the quality of the product.
Part 2

What is a benchmark firm? Why is it good practice for a benchmark firm
to open its doors and allow others to view its operations and tour its
facilities?
A benchmark firm refers to the company that is one of the best in its field or the one that adopts the best policies and other companies compare and evaluate their system and practices with reference to it. A benchmark firm ensures that the systems and procedures that it is executing leads them to be the best among their competitors in the market. Companies evaluate themselves through using a bench mark firm so as to directly obtain its improvement in terms of profits gained and improvements made. It also helps them to forecast the future strategy that would help in continuous improvement of the firm’s operations and practices (Elmuti & Kathawala, 1997).
It is a good practice for the firms to open its doors for the other companies to enter its firm and view and analyze the various operations since it provides the firms with good relationship with other firms, better understanding of their own practices. It also keeps an eye that the operation within the firm is maintained as per the required high standards that it has been keeping since a long time. The firms continuously improves its practices so as to ensure that it continues to be the best in the market and the firms can benchmark it as an ideal firm for the practices and operations executed (Bendell, Boulter, & Kelly, 1993).
What are the pros and cons of becoming a benchmark firm? If you were the
manager of a highly successful company, would you want other companies
bench-marking against your firm? Why or why not?

A bench mark firm in the market makes sure that the best practices and operations are carried in the firm. Being a bench mark firm, there are many elements that the firms need to take of while enjoying the position of the best among the competitors. The advantages of becoming a bench mark firm are that they tend to keep a constant check on the steps of operations and performances that are obtained. It also serves to be one of the motivational factor in maintaining the quality that helps in developing the best position in the market (Bendell, Boulter, & Kelly, 1993).
However, there are few disadvantages of being a bench mark firm. This involves an excessive feeling of satisfaction among the employees and this does not let them to work and strive for continuous improvement. At the same time, the competitors may outperform the bench marked firm by knowing and evaluating all of its strategies and developing a better strategy or check for performing in their firms. The bench marked firm would be totally unaware of this and would continue the practices that it has been following since a long time without modifying or up grading it (Elmuti & Kathawala, 1997).
If I would be the manager of a highly successful company, I would let the other companies to bench mark our firm with a scope of continuous improvement and development in the practices and operations in my company. I would let them do so since it will keep the practices and procedures of the firm under constant check. However, I would also make sure that the employees continue to give their best without getting overly satisfied with their efforts.

Part 3

Discuss the advantages of concurrent engineering.
Concurrent engineering refers to the process of obtaining products through a design where the various stages of production run parallel to each other. This is also termed as “Parallel or Simultaneous Engineering”. It involves integrating all the functions and operations that are executed in the company. It also helps to achieve the best utilization of time. Resources and cost and helps in optimizing it for the good of the company. It serves to be one of the leading approach in the production industry providing results that are required by the company (Dowlatshahi, 1994).
The process of continuous improvement that involves following steps and making efforts while striving to improve the quality offered by the company. It is observed that continuous improvement is achieved by carrying Concurrent engineering while creating the product (Wright, 2000). Concurrent Engineering helps to attain a continuous urge that is required in the observation of continuous improvement process. It helps to obtain the following advantages that would incorporate in continuous improvement (Dowlatshahi, 1994):
• Increase in productivity:
The adoption of Concurrent engineering in the designing process helps to increase the productivity across the operations and other levels of management. This increase in productivity is a continuous process that is observed in this process.
• Benefit over competitors:
The company that uses Concurrent engineering has an extra hand over the competitors by providing the required quality within the time frame and that too, at an economic cost. The process and practices involved here tend to provide the company a niche over its competitors in the market.

• Optimization of time, cost and material:
While observing and adopting Concurrent engineering, there is a strategic planning of using the sources and management in parallel operations and flow of efforts is kept continuous. This helps in saving the time and cost involved in the development of the product. The resources that are available are also utilized productively to ensure continuous improvement.
• Effective utilization of the efforts:
Concurrent engineering ensures that the efforts of the employees are used continuously without creating any sequence that requires dependence on the other levels of management that would create an obstruction in the time. This will help the employees to channelize their efforts for the development of the product and make sure that their efforts are utilized effectively in the process.
Thus, it can be said that Concurrent engineering helps in the continuous improvement process that has to be observed by the company in achieving its target and fulfilling its objectives in an effective way.

References
Bendell, A., Boulter, L., & Kelly, J. (1993). Benchmarking for competitive advantage. London:: Financial Times.
Culpan, R. (2009). A fresh look at strategic alliances: research issues and future directions. International Journal of Strategic Business Alliances, p.4.
Dowlatshahi, S. (1994). A comparison of approaches to concurrent engineering. . Int J Adv Manuf Technol,, 106-113.
Elmuti, D., & Kathawala, Y. (1997). An overview of benchmarking process: a tool for continuous improvement and competitive advantage. . Benchmarking for Quality Management & Technology,, 229-243.
Wohlstetter, P., Smith, J., & Malloy, C. (2005). Strategic Alliances in Action: Toward a Theory of Evolution. Policy Studies Journal, 419-442.
Wright, A. (2000). Scenario planning: A continuous improvement approach to strategy. . Total Quality Management,, 433-438.

Essay on Financial Impact on L.A.M.P Model

Human Resource Planning: Financial Impact on L.A.M.P Model.


Human Resource Planning: Financial Impact on L.A.M.P Model.

In the process of making Human resource plans and strategies, LAMP framework serves to be one of the critical model. LAMP framework in Human Resource refers to the Right Logic (L), Right Analysis (A), Right Measure (M) and the right process (P) (Cascio & Boudreau, 2010). Planning the Human Resource also involves developing the correct HR to employee ratio, developing a precise HR matrix and developing and executing the measurement of performance on standard parameters (Talentship and Human Resource Measurement and Analysis: From ROI to Strategic Organizational Change , 2004). Apple has laid the best example for the world in terms of developing the LAMP model. They analyse the market, develop strategies and design technologies that would be useful to the people. Recently, they provided the customers with an ultimate browsing experience with the launch of the IOS8. Thus, it is observed that the planning, development and execution of the HR has financial effects on the four terms observed in L.A.M.P model.

References
Cascio, W. F., & Boudreau, J. W. (2010). Making HR Measurement Strategic. In Investing in People: Financial Impact of Human Resource Initiatives, . Pearson.
Talentship and Human Resource Measurement and Analysis: From ROI to Strategic Organizational Change . (2004). CAlifornia: CEO publications.

Essay on Customer Loyalty

Customer Loyalty
Value of Loyal Customers refers measuring the overall revenue and profit that the organization gets from the customers purchasing cycle to the people who use and consume the product or the service provided by you. The organization takes a deep interest in creating loyal customers on the basis of their service and quality. On the other hand, organization also strives to take the loyal customers of the competing organization to their side and make them a regular user of the product that they provide. Loyalty of the customer is very important to establish a fixed revenue of sales for an organization (Hallowell, 1990).
The loyalty of the customers is maintained by providing them with the promised quality at an economic price as compared to the other organizations that produce the same product or provide the same service. The organization develops strategies and organizes them accordingly to obtain the loyalty of the customers and ensure that they use the product and service provided by them on a regular basis irrespective of the products of any other organization without even considering them (Basu & Dick, 1994). The loyalty of customers is very much important since it provides the set of customers that are always going to consume the product or use the service provided by the organization. It can be applied to the organizations by providing recognition to the loyal customers and other related schemes, offers and benefits.
The organizations have been executing the flow of operations and development of schemes and offers in order to obtain the maximum customers and then, it will provide special and really useful concessions to the regular customers to turn them into loyal customers and the mode of promotion for the organization. Thus, the organizations calculate the importance of the Value of Loyal customer (VLC) and apply it to increase their profit and has following measures and advantages:
• Repeat purchase by Regular customers
• Customer Passing or recommending others
• increase in turnover
• Increase in Profit
• Increased satisfaction of the new customers and hence forming a chain of references among the customers.

2) Mass customization in an organization refers to the adoption of computer aided and automated production system for delivering the quantity of products on the customer’s request for custom batches of the product. The mass customization is observed where the organization is capable enough to deliver the required quantity of product at the customer’s request and to fulfil the requirements in terms of quality as well as quantity serves to be the major challenge in performing the task (Pine, 1999). The main focus of the organization in executing the mass customization of the operations is to meet the huge demand of the customer in terms of production and carry it at the optimum economic cost.
The design that is adopted for the sequence and flow of operations and movement of the materials is to be analysed with respect to the outcome so as to obtain the most optimum and customized mode of production in the organization that will help to ensure that profitability and turnover of the organization is maintained.
Mass customization is observed in an organization where production is carried out in two ways which involve: a) delayed differentiation and b) modular design.

Delayed differentiation Modular design
It is observed in an organization where the product is made first as the family product and then modifications are made in it.

It involves developing the actual product in a lot or a bunch and then modifying it as per the requirements of the customers and providing them with the leverage to choice the design.
It is observed in an organization where the production is divided into small modules and after production they are assembled.

It involves accurate and systematic division of the design of the product into manufacturing of the parts and then assembling them in the best possible technique.

It is most suitable for the manufacturing of clothes It is most suitable for the manufacturing of automobiles and its parts.
3) Quality function deployment (QFD) can be termed as a technique which helps to derive the quantitative parameters of the production from the qualitative needs of the consumers. It also involves considering the elements that are created and the components that are going to be produced from the customer point of view with the understanding that states that the demands that are put forth by the customer needs to be handled while developing and designing the product s (Akao, 2004). It helps to understand the requirements of the customers and transform the needs in terms of the product design and features.
Quality function deployment (QFD) to a specific product design is shown below:
It involves four phases which are:
• Design-
It involves considering the customer’s requirements and evaluating the design of the product on the basis of that.
• Details-
It involves coordinating the design requirements to the parts requirements which are going to be necessary for the product.
• Process-
It involves considering the flow of operations that will be observed while carrying the production of the product.
• Production-
It refers to the execution of the selected process and carrying the process of production as per the standards that are to be maintained and create a product that will satisfy the customer’s needs and in turn lead to huge sales of the product.

The customer’s requirements is taken as the input and reference for preparing the design. The elements and demands are analysed and developed while designing the product. After developing this, the output is in the terms of customer’s satisfaction of the product. The phases are very important in developing a design of the product and develop a product that will generate the maximum profit and sales in the organization.

4) The production system is broadly divided into two categories (Yearnmin & Jinjoo, 1993):
a) Intermittent production system:
It refers to a production system that follows a single line of production and the products are obtained at the end of the line following a specific sequence. Features of this production system is shown in below:
• The flow of production in the intermittent system is not continuous as the product is produced in a line and hence the machines become free after producing or executing an operation until it gets the other production line in its queue.
• Different variety of products can be produced due to the entire production of the product in flow and can be changed whenever a particular line is completed.
• It is used where the volume of the products that are produced is small.
• In this type of system, general machines are used and no specialized equipments in terms of the product development are not required.

b) Continuous production system:
It refers to the production system that involves continuous production of a specific product without any kind of interruption.
The features of this type of production are as below:
• The flow of operations is continuous as there is no halt in the production process.
• The products that are developed are required to be following particular high standards for each and every component or part of the product.
• Products are developed on the individual requirement of the customer in terms of the specification of the component which are assembled for the product.
• Specialized machines and equipments for each and every component is utilized in the system

References
Akao, Y. (2004). Quality Function Deployment.
Basu, K., & Dick, A. S. (1994). Customer Loyalty: Toward an Integrated Conceptual Framework. Journal of the Academy of Marketing Science, 99-113.
Hallowell, R. (1990). The relationships of customer satisfaction, customer loyalty, and profitability: an empirical study. International Journal of Service Industry Management, .27 – 42.
Pine, J. B. (1999). Mass Customization: The New Frontier in Business Competition. Harvard Business Press.
Yearnmin, K., & Jinjoo, L. (1993). Manufacturing strategy and production systems: An integrated framework. Journal of Operations Management, 3–15.

Guide on Employee Job Satisfaction

Report title:
Student’s Name:
ID Number:
Attendance Number:
Section:
Date of Submission:

Introduction about employee Job Satisfaction

Employee job satisfaction refers to the level of content and satisfaction that the employee has while working in an organization and performing a specific job that is assigned to him. Employee satisfaction is very important for the growth and development of any organization. It involves developing various strategies and policies that support employees and provide them with satisfaction and content about their jobs. It plays a pivotal role in the sustainable growth of the organization in the market.

History about employment job satisfaction
The evaluation of job satisfaction was first executed in the 1930s. It was carried through anonymous surveys containing random employees and there was a framework developed for the analysis of employee attitudes in the organization. The main function in the organization is to increase the productivity of the organization across the different operations that are carried across it. One of the first highly acclaimed and popular job satisfaction model has been provided by Edwin A. Locke in his “Range of Affect Theory” (Torkabadi & Kheirkhah, 2013). It can be observed that the main function of the job was to provide satisfaction to the employees and then excellent performance can be obtained through it. It was followed by the “Core Self-Evaluations model” that was developed by “Timothy A. Judge, Edwin A. Locke, and Cathy C” in 1997 (Judge, Locke, Durham, & Kluger, 1998).

Questionnaire
1) What is your age? Please select your age group.
a) 18-25 years
b) 26-35 years
c) 36-45 years
d) 46-60 years
2) What is your Gender?
a) Male
b) Female
3) What is the highest level of education acquired by you?
a) High school
b) High School graduate
c) Training/Vocational Training/ Technical Training
d) College Graduate
e) Post Graduate
4) How long have you served your current organization?
i) 0-5 Years
ii) 6-10 Years
iii) 11-15 years
iv) 16 years and above

5) According to you, there is a high level of motivation in you when you start a new task in the company?
a) Strongly Disagree
b) Neutral
c) Agree
d) Strongly Agree

6) Do you think that you are paid according to the amount of work you do?
a) Strongly Disagree
b) Neutral
c) Agree
d) Strongly Agree

7) Do you think that you are made to do tasks that justify your qualification?
a) Strongly Disagree
b) Neutral
c) Agree
d) Strongly Agree
8) Do you have a good bonding with your colleagues?
a) Strongly Disagree
b) Neutral
c) Agree
d) Strongly Agree

9) Do you think that you are bullied or treated inappropriately by your subordinates and colleagues?
a) Strongly Disagree
b) Neutral
c) Agree
d) Strongly Agree

10) According to you, is the behavior of your seniors appropriate?
a) Strongly Disagree
b) Neutral
c) Agree
d) Strongly Agree
11) According to you, is the environment in the company suitable for your growth?
a) Strongly Disagree
b) Neutral
c) Agree
d) Strongly Agree
12) Do you think that the working structure and management in the company is favorable for growth?
a) Strongly Disagree
b) Neutral
c) Agree
d) Strongly Agree

13) According to you, is the company paying you well?
a) Strongly Disagree
b) Neutral
c) Agree
d) Strongly Agree
14) Do you think that you have better job opportunities in other companies?
a) Strongly Disagree
b) Neutral
c) Agree
d) Strongly Agree
15) According to you, there is a bright opportunity in terms of career and personal growth in your organization?
a) Strongly Disagree
b) Neutral
c) Agree
d) Strongly Agree
16) Do you think, there is a major role played by the incentives and remuneration that you get for extra hours improves the job satisfaction?
a) Strongly Disagree
b) Neutral
c) Agree
d) Strongly Agree

17) According to you, would providing higher wages increase the job satisfaction?
a) Strongly Disagree
b) Neutral
c) Agree
d) Strongly Agree
18) Do you think, it takes more than the financial increment to inculcate job satisfaction in you?
a) Strongly Disagree
b) Neutral
c) Agree
d) Strongly Agree
19) According to you, is there any hope that the company can do to increase the job satisfaction among the employees?
a) Strongly Disagree
b) Neutral
c) Agree
d) Strongly Agree
20) Do you think that the practices that are currently employed in the organization to increase job satisfaction is sufficient enough to generate positive results by increasing the job satisfaction among the employees?
a) Strongly Disagree
b) Neutral
c) Agree
d) Strongly Agree
Questionnaire measurement:
The questionnaire that has been developed would help in evaluating and analyzing the factors that are contributing to the employee job satisfaction in a company. It can also be seen that the first four questions would be providing the demographics. In the other questions, the evaluation and analysis would be done on the basis of the Likert scale which involves providing ratings to the solutions or options provided in the questionnaire. It will help in understanding the psychology of the employees in terms of the employee job satisfaction.
Conclusion
Thus, it can be stated that the above developed questionnaire would help in developing knowledge regarding the importance of employee job satisfaction in the performance of the employees. The questionnaire would help in carrying an extensive research through obtaining first-hand information about the topic of employee job satisfaction in an organization.

References
Judge, T. A., Locke, E. A., Durham, C. C., & Kluger, A. N. (1998). Dispositional effects on job and life satisfaction: the role of core evaluations. Journal of applied psychology 83, no. 1, 17.
Torkabadi, M., & Kheirkhah, B. (2013). Evaluating the Job Satisfaction in Iranian Petrochemical Industry: A Case Study. New York Science Journal , 54-60.