Harvey Norman Management Context Samples for Students Myassignment

Question: Discuss about the Harvey Norman Management. Answer: Introduction Harvey Norman Company is a large retailer in Australian retail market. It is a multinational retailer of furniture, beddings, computers, consumer electrical products and communication. According to the study, the company operates as a franchised and it is listed at Australia Stoke Exchange as Harvey Norman Holding Company. Harvey Norman Holding Company it operating in Australia and New Zealand retail market, however, the company is also operating its stores in Slovenia, Asia, and Ireland. The company top management has implemented some marketing management policies where some brands in the market are branded as Harvey Norman, this is with the main objectives to increase the company market share, other products have names such as Domayne and Joyce Mayne. According to the Harvey Norman Holdings 2010, Gerry Norman is the Chairperson of the company where Harvey family owns 30% of the company(Salek, 2010). Management is defined as the process of planning, directing coordinating and controlling the functions of the organization towards accomplishing its strategic goals and objectives. Management in an organization depends on theoretical frameworks that are installed by the board of directors. Strategic management tools also determine the management context of an organization. The organizations' management plays a key role in making essential decisions of the enterprise. The main purpose of this paper is to provide an intellectual understanding of management in a business organization. Harvey Norman Holdings Company is an organization that embraces it concern to accomplish its mission by installing and implementing on management theoretical concepts(Derbyshire Wright, 2017). The paper will primarily analyze the business factor such as organizational structure, business environmental factors, organizational business practices and functions. The decisional making process and applicable business strategies contribute towards accomplishing the organizational goals and objectives, the top management of an enterprise have a critical role to play to enhance better decision-making as well as developing appropriate business strategies. Harvey Holdings Company key facts Gerry Harvey and Ian Norman in 1951 opened their first discounted store they later joint their business and created one new organization which Harvey Norman; therefore, Harvey Norman Holdings is a public company that is focused to be formed by the combination of two organization. The company products and services include small appliance, furnitures, computers, communications, home improvements, flooring, and carpeting(Ismail, Rahman, Ismail , Daud, Khidzir, 2017). Harvey Norman Holdings Company slogan is known to be "Go, Harvey, Go Harvey, Go Harvey Norman", the company motto is Much like the supporting anthem for a favorite sporting team, conveys the enthusiasm and entrepreneurial spirit embedded in the Franchise operators and the Harvey Norman culture". Knowledge management and e-commerce Knowledge management and e-commerce are the management concepts of a business organization. E-commerce is defined as the business transaction that involves the transfer of information across the internet, e-commerce cover wide range of the different types of a business enterprise from the consumer based retail services, to the business exchange of goods and services between the companies(Andam, 2014). E-commerce is the primary element that demonstrates the impact of globalization factors to the business sector. Harvey Norman Holdings Company is an international corporation that has focus on the globalization factor, technological changes are one of the globalization factors that has a positive impact on a business enterprise. According to the Harvey Norman, Holdings Company profile 2010, the multinational firm is planning to increase the operational services that are contributed by E-commerce(Salek, 2010). According to the company chairman Gerry Harvey, Harvey Norman Holdings Company will operate its site using the experience gathered from the Domayne sites and the existing photo-finishing, we are confident our on-line transactional strategy will produce incremental dollars to the existing channel. Harvey Norman Holdings Company is also planning to use e-commerce marketing approach in order out-do on the traditional marketing approach, the traditional marketing approach was earlier installed by the management to enhance proactive catalog with the consumers(Hollensen, 2015). Better customer targeting is the main purpose of using e-commerce in business activities, Harvey Norman Holdings Company is focusing on increasing the customer acquisition and reducing the cost of operation of its activities(Dylan , 2011 ). On the other hand, Knowledge management is also the organization management context that is defines as the process of applying the systemic approach to capture, structure, and managing as well as disseminating knowledge throughout the organization departments, this is to reduced the cost of operation, provide best organization practices and promote the organizational development(Hislop, 2013). According to Harvey Norman Holdings Company 2016 report, knowledge management is driven by the organization management commitment that encourages competition between the departmental management as well as between the company employees(Mayne, 2017). Human Resource, production and sale department are the primary sections of the company which is encouraged to implement knowledge management approach, by innovating on new measure proving quality services and products to the consumers(Holsapple, 2013). Environmental Forces affecting The environmental forces affecting business organization implies the business factor that affects both internal and external activities of the company. While evaluating the business environmental forces, the strategic management tools are used to determine the internal and external business operations(Hill, Jones, Schilling, 2014). PESTEL analysis PESTEL analysis approach is one of the strategic management tools that is used by Harvey Norman Holdings Company to determine its external operations, PESTLE analysis helps in scrutinizing the macro business factors(Grnig Khn, Global Environmental Analysis., 2015). Political The political environmental factor implies the impacts of the existing government in the specific market. This factor is affecting the external operations of an organization since the company can be linked with campaign issues or can be perceived to persuade its employee to vote for a particular candidate. Gerry Harvey is the company CEO and the Chairman of the Board of director, this is one of the political impacts to the business organization(Grnig Khn, Global Environmental Analysis., 2015). Economic In 2010 annual report, the company reported to have flat sales for the year since the consumers reduced their expenditure, this impact was originating from the effects of the downturn of the foreign international currencies. Harvey Norman Holdings Company in an international corporation which operates in various markets, US dollar has been affecting the operations of the company since the currency keeps own changing at any other time. Economic factor is also reflected as an aspect that affect the organizational design, when economic crisis is experience internationally the company will tend to reduce other departments that are considered not to be relevant to the company during the course of the economic crisis. Sociological Harvey Norman company is a multinational enterprise that has decided to impact the Australian society and other markets that it operates, this is by providing products and services that are relevant to the consumers. Harvey Norman Company is large organization that promotes positive lifestyle of people, especially to its employees(Salek, 2010). Technological According to Harvey Norman Holdings Company Profile from Hoovers 2010, the U.S economy has influenced the business spending for the software product as well as the success of programming enterprises depends on the technical professionals. However, technology is an essential element that may affect the organizational structure design, technology will tend to change the organization design since it focus on efficiency and lowing the cost of production. Legal This is also the external business environmental force that affects the operation of Harvey Norman Holdings Company. The company needs to operate under the compliance of the existing legal frameworks(Grnig Morschett, Determining the Target Markets. In Developing International Strategies, 2017). Environmental Like any other operating company in the business sector, Harvey Norman Holding Company has been faced with a lot of issue relating to the environment, the company is criticized to be not thoughtful to the environment. Harvey Norman Holding Company removed many trees while opening its new stores, and thus affecting the environment. Microenvironment forces SWOT analysis The SWOT analysis of Harvey Norman Holding Company provides a comprehensive analysis of the internal operations of the company. It elaborates key strengths, weakness, opportunities, and threats that influence the operations of the company, this strategic tool could provide the competitive advantage(Hill, Jones, Schilling, 2014). Strengths Harvey Norman Holding Company strengths provide the company with the competitive advantage. The company has high growth rate since it operates in large market. It also has skilled workforce, experienced business units(Derbyshire Wright, 2017). Weakness Harvey Norman Holding Company is operating on loans that affect the internal activities of the company, high loans rates increase the company debt. Apparently, Harvey Norman Holding Company is operating on in a diluted market where the marketing issues such as changing on consumer interest and behavior are commonly experience, and thus affecting how the organization structure. Opportunities An opportunity implies new business factors that influence the internal activities of the company. Harvey Norman Holding Company has innovated on producing new products, anticipating to have high profitability due to increase in the global market(Holsapple, 2013). Threats A threat implies a factor that affects both internal and external business operation. Tax is a component of the business environment that affects the external operations of the business; increase in tax charges reduces the company profits. Increasing rates also affect the internal and external business environment; it also reduces profits to be recorded by the company. Conclusion Decision made in an organization depends on the management approach implemented by the top management. Harvey Norman Company is a large retailer in Australian retail market. It is a multinational retailer of furniture, beddings, computers, consumer electrical products and communication. The company operates as a franchised and it is listed at Australia Stoke Exchange as Harvey Norman Holding Company. Strategic analysis tool provide an overview of the management context of the business, PESTLE and SWOT analysis are the strategic analysis tools used in the paper to analyze the management context of Harvey Norman Company. Knowledge management and e-commerce are the management concepts that are analyzed by the study to elaborate on the management context of Harvey Norman Company. References Andam, Z. R. (2014). e-Commerce and e-Business. Derbyshire, J., Wright, G. (2017). Augmenting the intuitive logics scenario planning method for a more comprehensive analysis of causation. International Journal of Forecasting, 33(1), 254-266. Dylan , B.-E. (2011 ). Harvey Norman looks to online sales channel. arvey Norman (ASX:HVN) aims to grow sales through a new e-commerce site launching next month, and an upcoming software on demand venture. Retrieved September 30, 2011 , from https://www.computerworld.com.au/article/402593/harvey_norman_looks_online_sales_channel/ Grnig, R., Khn, R. (2015). Global Environmental Analysis. In The Strategy Planning Process (pp. 89-96). Springer Berlin Heidelberg. Grnig, R., Morschett, D. (2017). Determining the Target Markets. In Developing International Strategies. Springer Berlin Heidelberg. Hill, W., Jones, R., Schilling, M. A. (2014). Strategic management: theory: an integrated approach. Cengage Learning. Hislop, D. (2013). Knowledge management in organizations: A critical introduction. . Oxford University Press. Hollensen, S. (2015). Marketing management: A relationship approach. . Pearson Education. Holsapple, C. (2013). Handbook on knowledge management 1: Knowledge matters (Vol. 1). Springer Science Business Media. Ismail, S., Rahman, A., Ismail , A., Daud, Khidzir, N. (2017). Internet Marketing Strategy for Furniture Industry: A Research Based Ergonomics Sofa. In Advances in Human Factors, Business Management, Training and Education. Springer International Publishing. Laudon, K. C., Traver, C. (2016). E-Commerce 2016: Business, Technology, Society. Pearson Higher Ed. Mayne, S. (2017). ASA shoots the lights out in 2016 AGM season. Equity. 31(1), 4. Salek, N. (2010). Harvey Norman looks to e-commerce . Retrieved May 24, 2010, from https://www.crn.com.au/news/harvey-norman-looks-to-e-commerce-175648