Strategic Management D3 Essay Example | Topics and Well Written Essays - 1000 words

Strategic Management D3 - Essay Example The New Recipe case study showed how the firm reacted to the effects of Martha Steward Wall Street scandal and restructured its operations afterwards to change the firm’s public image and operating procedures. The firm expanded its outbound logistics setup by adding other major retailers other than K-Mart to solidity its distribution network. The company’s operations were reorganized as far as its human management function. Martha Steward leadership role was reduced, she stepped down as CEO of the company and took a more passive role within the organization Along with a new management team the company implemented a corporate strategy that divided its business into four divisions: publishing, broadcasting, merchandising and internet. An internal audit an advisory activity designed to add value and improve an organization’s operations (Vt, 2008). Among the key areas included in the internal audit are risk management, control and corporate governance. At Martha Steward Living Omnimedia the company had to access the risk associated with the brand image of the company which required actions to achieve collateral damage. The company suffered heavy financial losses for a couple of years after Martha’s conviction. Between 2002 and 2006 the firm was not profitable, with 2005 being the worst year due to a $76 million corporate loss. The results had a detrimental effect in the value of the company’s stock value. Corporate governance structure of a company specifies the distribution of rights and responsibilities among the different participants such as the board, management and shareholders (Encycogov, 2008). The corporate governance of the company changed to separate the power and interest of the founder from the company’s objectives. Prior to Martha’s conviction the fact that she played such an instrumental role in the entire operations

Should the Government Intervene in the labour market Essay

Should the Government Intervene in the labour market - Essay Example Various critics argue that the government involvement in the labor markets is significant since it promotes free and fair employment while other argue the exact opposite, citing that in hinders the willing employer, willing employee relationships, owing to the various policies implemented (Tisdell and Hartley, 2008 p.269). Government involvement in the labor market is critical since it acts in response to various challenges that emerge in employment. For instance, employers may opt to hire employees at extremely reduced rates, owing to their intended purpose of maximizing their profits. At such instances, some employees may be willing to work with such wages, owing to the unemployment rates resulting from economic recession globally while other suitable employees may be unwilling to work under such rates. This creates a challenge since the unemployed individuals may act in their fight for increased pay, which may lead to property and life destruction, and this call for government involvement, in a bid to provide a solution to such a predicament through the introduction of the minimum wage policies. In other instances, some unscrupulous employers may overwork their employees without increasing their minimum salaries, and even subject them to working under harsh and dangerous conditions without the implementation of the necessary safety measure policies, in their bid to reduce costs(Neugart, 2002, p.69). This places the employees’ welfare at risk, and cases of employee opposition have been rampant across the globe. As such, government intervention is critical in such institutions since the government is tasked with the provision of apt safety policies that safeguard the welfare of such employees. This serves to reduce the employer-employee conflicts hence promoting production and profit maximization of such firms. Additionally, cases of employment of minors are still in practice,