Cbe6183 Strategy Formulation And Business Assessment Answer
Answer:
Introduction
Human resources are the most important factors, which directly as well as indirectly impacts the performance of any company. They are the real executioners of each and every kind of tasks which are performed by the business organisation (Jain and Kaur, 2014). Here, in this business plan, the human resource of Vodafone Albania has been discussed. Vodafone Albania is a mobile telecommunication business organisation, which is a subsidiary of the global telecom giant Vodafone Group Plc. the company is known to take care of its human resources in a very good way and has won numerous awards and recognition for the same. The company has a dedicated workforce, who initiate and execute the different activities of the organisations. They act as the hands and limbs of the organisation. Behind every kind of objective, plan and their execution, human resources of Vodafone Albania plays a key role. Some key aspects of the human resources of Vodafone Albania are as follows:
Job creation:
Vodafone Albania has created numerous new job opportunities and openings, in a relatively short period of time. As of today, the company employs a little over 380 people (Vodafone.al 2018).As the company deals with telecommunications, the company requires people with strong technical and technological know-how of the various aspects of the telecommunications. The company requires people from diverse backgrounds having adequate knowledge in the fields of economics, commercial and scientific proficiency. The company has been one of the most successful companies in the state of Albania, in terms of recruitment of employees.
Gender diversity and age trends:
Approximately 48% men to 52% women in the work force of the organisation. These percentages vary from department to departments. The company duly follows, all the gender related requirements which are commonly followed in the telecom industry. The average age of the employee at Vodafone Albania is about 9 years of age. This suggests the trust which Vodafone has on the young graduates. Graduates who are fresh out of college, are recruited for enhancing the dynamic culture of the company. Vodafone Albania, also respects the impact and the contribution towards the company. The already demonstrated proficiency and track of professional brilliance of the company’s senior employees are an equally invaluable asset for the company. These people have played a fundamental role in the creation of Vodafone Albania’s successful corporate outlook and the accomplishment of the company’s business goals and objectives.
Risk and Risk Management:
Risks form an integral part of each and every company operating in this dynamic business world. Due to the impact of the external as well as the internal factors of the company, various kinds of risks are faced by companies on a continuing basis. Some of the major risks, faced by the company of Vodafone Albania are as follows:
- Failure of information systems:Significant failures of the information technology systems or any kind of malicious attacks on the company’s IT network, acts as an impediment in the services provided by the company and leads to loss of revenue for the customers (al 2018).
- Loss of customer information:Due to increasing problems of hacking and loss of data, the company’s position in front of its customers is being compromised, due to the loss of their invaluable information (Kresak, Corvington and Williamson 2016). The company’s reputation is also hampered due to the legal cases being filed by the consumers.
- Extensive regulations: The wide range of regulations, legal requirements, licensing for construction and operations for the companies has become rampant and is affecting the smooth functioning of the business.
The management of risks is another crucial part of the risks assessment duty of any company. Vodafone Albania has been performing the following functions with the hope of addressing these issues of risks. Some of them are:
- Vodafone has initiated a robust back-up and resilient requirements are being installed with regards to the network and are being regularly tested. This helps in tackling the various risks related to network issues by the company.
- All the hardware and the software applications of the company, are being reviewed in a robust manner, leaving no room for confusion and damage.
- The company has an extensive practice in place for identifying the different risks being faced by it, in both present as well as proposed commercial propositions, particularly in the case of, competitive marketable pricing and strategies related products.
Exit Strategies for Investors:
Exit strategies for a business is primarily carried out for various reasons. It is initiated by the trader, venture capitalist, or the owner of any business, for liquidating any financial asset or disposing of any tangible asset. It is performed with the intention closing the affairs of the company, once the objectives are accomplished or if the company is running on losses (DeTienne, McKelvie and Chandler 2015). Some of the exit strategies which can be adopted by the investors of Vodafone Albania are as follows:
- Mergers: A merger between the two different companies, in the case of two companies is a very viable way for exiting a company. The merger results in the formation of a new company, for the purpose of entering into new markets, growing new segments, gaining market share or for mitigating the losses of any company (Trautwein 2013).
- Acquisition: An acquisition is when a company purchases most or all of the shares of another business organisation and shoulders full control of the company which has been acquired (Lubatkin 2013). The company which his being brought by the other companies is being absorbed in the process by taking over all the shares, assets and liabilities of the company.
- Liquidation: It is another viable method, which is used for the purpose of exiting any market and is also favoured by investors in times of necessity. Businesses that are struggling often select the procedure of liquidating their assets. When any business liquidates, the amounts of all its inventories are deliberately marked down to ensure a faster sale (DeTienne and Chirico 2013). Liquidation procedure is being used to reimburse all creditors, and from the remaining part the shares are divided among the shareholders.
References:
Vodafone.al. (2018). Vodafone Albania praised for its policies and practices on diversity and inclusion. [online] Available at: https://www.vodafone.al/vodafone/Vodafone_Albania_praised_for_its_policies_and_practices_on_diversity_and_inclusion_4517_2.php [Accessed 23 Aug. 2018].
DeTienne, D.R., McKelvie, A. and Chandler, G.N., 2015. Making sense of entrepreneurial exit strategies: A typology and test. Journal of Business Venturing, 30(2), pp.255-272.
DeTienne, D.R. and Chirico, F., 2013. Exit strategies in family firms: How socioemotional wealth drives the threshold of performance. Entrepreneurship Theory and Practice, 37(6), pp.1297-1318.
Vodafone.al. (2018). A future with Vodafone. [online] Available at: https://www.vodafone.al/vodafone/A_future_with_Vodafone_281_2.php [Accessed 23 Aug. 2018].
Jain, R. and Kaur, S., 2014. Impact of work environment on job satisfaction. International Journal of Scientific and Research Publications, 4(1), pp.1-8.
Kresak, M., Corvington, L. and Williamson, P., 2016. Vodafone answers call to transformation. Business Transformation Essentials: Case Studies and Articles, p.127.
Trautwein, F., 2013. Merger motives and merger prescriptions. In Mergers & Acquisitions (pp. 14-26). Routledge.
Lubatkin, M., 2013. Merger strategies and stockholder value. In Mergers & Acquisitions (pp. 43-57). Routledge.
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