Ges Talent Machine the Making of a Ceo - 1305 Words

Human Resources Management General Electric Case study report 1. Introduction General Electric (GE) was founded 1878 by Thomas Edison. This American company is nowadays very well-known due to its multinationality, to its conglomeration of corporations and also to its excellent performance on the segments in which operates (infrastructure, capital finance and media). However, over the years this firm has also been outstanding when it comes to Human Resources (HR) practices having previously been referred to as a CEO factory. This report will be performed with the intent of studying the strategic talent management system of GE and what are the implications that it has on the overall performance of the company. 2. Pivotal†¦show more content†¦He also changed the rules about the Crotonville course, which was now a privileged reward and also signal good future perspectives. Many other practices were implemented to promote communication between subordinates and superiors and to promote the development of employees, in order to lead to a better performance of the workers. One in particular, was the training rotation assignments; during this practice, employees had the opportunity to acquire and share different types of knowledge, going beyond their scope. This off course brought a huge advantage for GE since it would open the employees to new areas that might motivate them more, therefore helping the company not to waste resources. However, it can be argued that the firm made an error by looking for talent only within, i.e. only internally given that: organizational effectiveness can be enhanced by career movements across organizational boundaries. Nevertheless, this can also be se en as an advantage: by promoting only top leaders from its own ranks, the company is saving costs in introducing the employee to the company’s culture, customs and habits. 4. Different HR architectures within GE GE recognizes the importance of having different HR policies for different departments andShow MoreRelatedGe’s Talent Machine: the Making of a Ceo1458 Words   |  6 PagesGE’s Talent Machine: The Making of a CEO General Electric (GE) is a true global company with attendance in more than 100 countries. Clearly, with a workforce of more than 320’000 employees, GE also has to have proper human resources processes established. Its energetic Business Operation Model and sophisticated and evolved human resources strategy are results of the steady growth over more than 130 years of corporate history. Since its incorporation in 1878, many CEOs have shaped the company’s productsRead MoreCase Study Analysis: Ge’s Talent Machine Essay1498 Words   |  6 PagesCase Study Analysis: GE’s Talent Machine Brandie Buffins Grand Canyon University HRM – 635 Acquiring, Developing, and Leveraging Human Capital September 19, 2012 Case Study Analysis: GE’s Talent Machine General Electric (GE) has been well known and valued for embracing quantifying talent as well as rising talent when it comes to leadership. This organization makes sure that this is a key factor when it comes to their business planning. GE requires learning sessions all year long, which entailsRead MoreGe Talent1121 Words   |  5 PagesGE Talent Machine: The Making of a CEO Question 1: GE claims that it has been able to develop management talent as a sustainable source of competitive advantage. How has it managed to do so? Answer: GE has been able to develop management talent as a sustainable source of competitive advantage. 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Sports Event Tourism

Question: Write an essay on "Sports Event Tourism". Answer: 2.0 Introduction Sports management is the sector that discusses about the possibility of business relating to sports and refreshment (Qi 2012). Sport is an activity which is famous in every part of the world. Countries compete with each other in Olympic and state level tournaments also takes place every year all around the world. Golf is an internationally famous sports and it is often projected as the game of luck. It is one of the expensive sports to play but transformation is taking place in peoples perspective and they have started to value the game than the expenses that one has to confront while buying sportswear. Golf can operate as a catalyst in the life of a person who plays golf. People enjoy playing sports everywhere; it has a crucial influence on society and social culture. Research study tells about the advantage of sports is that it rejuvenate the souls of the player and increase attention span (Masterman 2014). Golf is a motivational game; the golf players can connect themselves with t he nature as golf courses have semi natural space. The sport reflects how conjugation of business and sports can take place through this game. The game has both sociological and economic aspect. But the discussion will project the economic value of the sport in business. Adidas is a sport brand that has extensive men wear collection for men. The event management team has to follow certain methodologies to assess the feasibility of the sport in certain country and it also discusses about the prospect of effective selling of sports wears in different country. 3.0 Market research: Market research is a methodical that is implemented by the marketers to get a perception about what consumer desires and what are their preferences. It is a performed analysis which is designed and most importantly interpreted component of business that defines the market status. Researchers scrutinize the target market in order to gather information about the customers. Marketing research in Sports and most importantly in golf is the metrics that measure the competitive potentiality of the business in market of Golf sportswear like polo tee shirt. Polo tees are the standard uniform of golf. Adidas is associated with sports like cricket, football and volleyball which have great demographical significance in the market. According to the journal published byYoshida et al. 2015, the market analyst always goes through the statistics to gain profound knowledge about the market status of sport. It assists in obtaining idea as to how the Sport can be made marketable. But Adidas needs to cre ate market acclamation for golf sportswear also. A journal published by Freeland 2015 says that focus groups are interviewed deeply to collect data to know about the demand of the sport in concern and what changes the target audience wants to see in coming days. Depending on the audience surveys and market popularity of the sport the research report is made. Secondary data is the most important portion of this research because the surveys that are made is based on the past researched market reports and data that are available in the market from before (Burke 2013). Primary consumers comprises of the sponsors, ticketing department and the department of marketing. They have to do extensive study of global market to sell sportswear also. A third party partner usually acts as a source for the researcher to collect, analyze and interpret the data available in market to promote the sportswear. They are mostly academically trained on the art of collecting data from the market place. Golf is a business which has limited data in the market as its popularity in past years has not been much; the sport started flourishing its business from the later part of the year 2010. 3.1 Segmentation According to Yan-Xia Lin and Qiang 2013, market segmentation involves the long term target of the organization which can be gained by country wise division of the market, consumer and businesses. The market strategy that is involved with the market division is to target the consumers and businesses from all the countries that have similar needs and then considering that analysis the target market is set. Golf is completely piloted by the consumers (Wang and Zhang 2014.). Consumers metamorphoses from time to time in respect of place, demography and income. There are clubs of the countries that are managed by local municipalities as they entertains low budget. But the private clubs offers high quality and meticulous facilities. The market feasibility of the game depends on the positioning of the sport in the market pace. Geographic segmentation elucidates the approach of the research where the marketer asses the nation, region and culture. Golf is a game that is multicultural. This kind of research helps in reflecting on criteria that the game needs to flourish internationally. Demographic assessment reveals the market need of the product according to age, generation, sex and religion (Apostolescu, Antony and Srinivasan 2015). Golf is a luxurious game and it is well liked by the elites and affluent people. Man golf tournament will be very popular in countries that are patriarchal in nature. Psychographic segmentation is the study of how people spend their leisure. According to Grunig 2013, sports management largely depends on the lifestyle that people follow. The country in which people follow extravagant life style and like to play mentally stimulating outdoor games like shooting and golfing. Marketers of Adidas need to be very particular in their assessment in order to make sure that the event of golfing acquires profit and audience (Prentice and Arnheim 2013). This is why demographic dissection is needed it helps to evaluate the value and respect the game gets from the country in which the tournament is taking place. A country that likes the game would definitely invest their money to enjoy the sport. 3.2 Competitor analysis: The sport golf is a well known game but not in every country. Different countries have favoritism for different sports. Countries like Brazil and Argentina is a country that likes football, they rarely play other games. While setting up an event this are the criteria that need to be pondered. A game of golf in a country which is full of football enthusiast will never get the desired attention. Sports like football, cricket and rugby are adrenaline pumping games whereas golf is a game that needs combination of strength and patience. Event manger has to be very meticulous about the target group and ethics that the society follows. The countries like Great Britain can be prospective country for the sport of golf as it is a developed country and many prosperous personages live there and they would simply love to watch the game. Golf is famous in Germany so it will prospective for the event company to do set up an event of golf in Germany. There are many golf courses in Germany; there are over 800 golf courses in Germany. Marketer should keep in mind the product and on the basis of the product the market should be surveyed. Marketing is all about serving the right kind of service to the right place. Countries like Asia and Europe has many golf enthusiasts. The marketer needs to measure the profoundness of the market and depending on that calculation decision are taken where to structure the event. If the product is promoted or featured in right place then the product will gain profit(Billings 2012). Golf is a game that lacks the popularity that the games like football, cricket or tennis have that is why the sportswear also lacks popularity. Event manger has to pay attention to the target market to understand who is ready to pay the right price for the commodity. Cricket uniforms and football jerseys sale more than golf wear. A country where sports like cricket, football are in leading position in the list of sports, golf cannot attract that many audiences. Apparentl y that will be loss for the sport enterprise. The event manger that is why highlights the country where there is equilibrium in sports preferences. The pie chart shows the percentage of population in 4 countries that likes the game of golf. Brazil has only 24 percent of the population likes this sport, in Argentina it is 45 percent, Europe it is 70 percent and in Asia 75 percent. 3.3 SWOT analysis: Strengths Weakness Weakness Internal In Asia and Europe have over 450 million fan following. They provide large number of golf products and also have great golf courts. Geographical diversity and technological diversity advances in prominent. Retention and attracting of budding golfers Innovations for the games are not made, invention of new rules and regulation has not taken place. The products are too expensive. Brand centric Opportunities Threats Threats External Golf lessons are being provided. Many training centers have opened and they also promote brands. Beneficial prospects for men. New products are demonstrated Global market is competitive in respect of golf. Due to high value of the products of the game, people may harbor misconception that they are not getting the desired deal game is seasonal that is why the product sale is low Taste and preferences changes quickly 3.4 Position of product Product positioning is a crucial element which defines how a marketer will interact with the target consumers about their product depending on their needs (Berridge 2014). Competitive pressure can drive a marketer to plan the target market by determining the attributes that they will project to the customers while discussing about the product (Pedersen and Thibault 2014). Effective marketing can assist the organization gain the desired acknowledgment that they want from the target market. Product positioning can be initiated by determining the age and sex of the target audience. Men golf tournament is popular among both men and women but sportswear has to be kept in mind in order to promote the sports wear brand. Taylormade and Nike are the two market competitors of Adidas. Market research has shown that over 270 million men all over the world watch golf and nearly 170 million women are interested in game and around 60 million people buys polo tee shirt around the year. Tiger Woods, Nicklaus and Graeme Mc Dowell have million of fan following. In Asia there are nearly around 60 80 million fans of the game, in Europe it is 200 million. The chart shows the positioning of the companies around the world. The graph shows the rise of popularity of the sport in past three years in 4 countries. Competitive element of the product should inspect before structuring the event in the country (Tedeschi 2013).Marketers need to stand out so study of the consumer needs should be effectively commenced. Interaction with the target audience is necessary. Marketers should generate a team in order to accumulate necessary data for the company, studying which the marketer can decide how they will promote their product (Duffy 2013). To promote men golf sportswear attributes of the product and its recommended value are to be discerned by the research made on the target audience. Position of the product in world market also adds credibility and it helps sport to gain desired demand in the market. 3.5 Competitive advantage Competitive advantages can be accelerated by the focusing on the beneficial and the positive points of the sports (Hill, Jones and Schilling 2014). The perspective of the marketer is very much important to understand the competitive advantage of a product. If a player is amateur then he or she will not have much of an opportunity to compete in a game. Similarly the business related to sportswear can face the same consequences if it is does not have competitive value. The competitive advantages of golf wears are as follows. Golf is improving day by day and is gaining more and more fans following in the global market that means golf and golf are at last getting desired value in market. It is a unique game that needs concentration and mental capability. Golfers do not have to be bulky or indulging into heavy exercises is not needed in order to play this game. This is the reason golf is gaining prominence among those who does not like adrenaline rushing games. Adidas is acquainted with promotional programs to make the game famous like cricket and football. There is no age division available for this sport. Age is just a number for this game. Jack Nicklaus is 76 years old he is still acquainted with this game. Every sport has age limit but golfing has none. It is noted as one of the marketing advantage of the sport. The sport will attract people from every age group. The world wide growing fame of the golfers like Tiger Woods and Nick Faldo has achieved worldwide acknowledgement and has influenced a lot of people to take up this game professionally. Great personalities are approached by brands to make them brand ambassadors and raise brand value of the product. 3.6. 4ps Marketing involves mix of four components product, place, promotion and price. These are the four elements that determine the market value of the product (Easterby-Smith, Thorpe and Jackson 2012). It is the mixture that determines what the product is contributing to the customer. Todays market requires a combination of both creativity and sensibility. In sports polo tees also new designs are implemented in order to gain market of polo tees. The tools like marketing and sales are changing day by day and the goals are becoming harder and harder to achieve. Social media can be used for effective marketing of the product it also gives illustrated platform so that the marketers can communicate with their customer (DRURY 2013). Long term relationship should be established instead of short term sales. Geological targeting of the audiences can be beneficial and in return they can achieve more than they have invested. Attractive schemes and offers on sportswear can influence public in buying the products. Sports tee can also be used in casual purpose Organization should support free short time learning courses for people so that they can discover their love for this game (Pedersen and Thibault 2014). With videos and varied software coaches can give lessons to students sitting miles and miles away. This marketing technique involves the mix of three ps such as product, promotion and place. The picture shows the percentage of polo tee shirt that was supplied in 2014 by Adidas in America, China and Asia. 4.0 Organizational chart: Adidas 5.0 Sales Forecast Adidas is rated as the number one company that has worldwide fame. Adidas promotes in two times a month in Golf tournament and it their polo tee shirts have great popularity. They are very costly but the demand polo tees are constant as it is very comfortable to wear. It is a company that has great market value and every sport chooses them to promote their sports. Event manager of Adidas has used their brand fame to their advantage and has expanded their company in every country. There are over 125 companies all over the world. It was established in 2001. The organization started with only 6 members. The organization has accumulated an amount of $50 million in sportswear in 2013; in 2014 the sales went down to $33.5 million and in 2015 it increased up to $ 55.5 million. 6.0 Future recommendation: The organization should promote their product in different states. Male sportswear like polo tee shirt will gain fame if the marketers target markets or countries that have greater market demand for the sports. They should promote themselves as non profitable organization. Advertising should be done to attain the attention of other market. Choosing potential public figures for advertising purpose is necessary. Assistance of social media should be taken to promote their new initiatives. Manufacturers, retailers and golfing bodies need to be contacted in order to accumulate information about the consumers. Marketing surveys should be extensively done on catalogues available for research related to golf including with bespoke researches of different other clubs, retailers and publishers. 7.0 Conclusion: Marketing plans are like the blueprints of sales and revenues for an organization. Marketing plan can be made through marketing strategies which can be formulated by studying different marketing criteria such as return of investment, customer response and sales number. For expanding the marketing reach of a company effectiveness of plan is very important. The organizational money that is being invested in golf tournament should multiply or it will be evident that the strategy is not working. The organization should keep in check their sales while organizing an event, over expenditure may lead to breakdown of the company. 8.0 Reference: Apostolescu, P., Antony, J.M. and Srinivasan, P., Novell, Inc., 2015.Security event management apparatus, systems, and methods. U.S. Patent 9,111,092. Berridge, G., 2014. The Gran Fondo and sportive experience: an exploratory look at cyclists' experiences and professional event staging.Event Management,18(1), pp.75-88. Billings, A.C. ed., 2012.Sports media: Transformation, integration, consumption. Taylor Francis. Burke, R., 2013.Project management: planning and control techniques. New Jersey, USA. DRURY, C.M., 2013.Management and cost accounting. Springer. Duffy, J.R., 2013.Motor speech disorders: Substrates, differential diagnosis, and management. Elsevier Health Sciences. Easterby-Smith, M., Thorpe, R. and Jackson, P.R., 2012.Management research. Sage. Freeland, B., 2015.Impact of Faculty Characteristics on Student Satisfaction in an Online Sports Management Program(Doctoral dissertation, NORTHCENTRAL UNIVERSITY). Grunig, J.E., 2013.Excellence in public relations and communication management. Routledge. Haimes, Y.Y. ed., 2015.Risk modeling, assessment, and management. John Wiley Sons. Hill, C., Jones, G. and Schilling, M., 2014.Strategic management: theory: an integrated approach. Cengage Learning. Masterman, G., 2014.Strategic sports event management. Routledge. Pedersen, P.M. and Thibault, L. eds., 2014.Contemporary Sport Management, 5E. Human Kinetics. Pedersen, P.M. and Thibault, L. eds., 2014.Contemporary Sport Management, 5E. Human Kinetics. Prentice, W. and Arnheim, D., 2013.Principles of athletic training. Mcgraw-Hill Education. Qi, F., 2012. Research on the Comprehensive Evaluation of Sports Management System with Interval-valued Intuitionistic Fuzzy Information.International Journal of Advancements in Computing Technology,4(6). Tedeschi, J.T. ed., 2013.Impression management theory and social psychological research. Academic Press. Wang, Y. and Zhang, H., 2014. Design and Development of Sports Management Information System based on Acceleration Transducer.TELKOMNIKA Indonesian Journal of Electrical Engineering,12(11), pp.7876-7883. Yan-Xia, L., Lin, L. and Qiang, W., 2013, November. Research and Development of the Integrated Management System of the College Sports Based on the Network. InIntelligent Systems Design and Engineering Applications, 2013 Fourth International Conference on(pp. 440-443). IEEE. Yoshida, M., Gordon, B., James, J.D. and Heere, B., 2015. Sport Fans and Their Behavior in Fan Communities. InSports Management and Sports Humanities(pp. 89-101). Springer Japan.