Management Tools and Strategies

Question: Discuss about theManagement Tools and Strategies. Answer: Introduction The purpose of the study is to find out the strategies and tools employed in two companies and to determine how each of them impact on the organization's small enterprises, leadership and customer service. The research paper was based on questionnaire survey whereby some respondents were involved in the process of collecting data. The study was carried out in two leading companies in Australia. BHP Billiton Company and Wools Worth Company being the best companies following a comparison of their management tools and strategies were discussed. From the study, it is clear that companies are succeeding due the maintenance of good customer relations, making the product more cheap and attractive as well as srewarding the customers Literature Review Organizational performance has become a very central issue in strategic management research. Some authors have made an analysis of organizational performance based on their strategies and tools (Vinten, 2010:117). In most literature, findings focus on the relationships between strategic performance and planning of a company. Very few studies discuss the relationship and effects between the strategies and tools and the performance of an organization. According to Knecht (2014:211), utilization of tools for management and techniques influences how an organization performs in the global market. Additionally, management tools help managers to group the companys performance into various categories including customer equity, performance capability, competitive advantage, organizational integrity, and financial results. On the other hand, Roth (2013:194) notes that there is a significant relationship between the financial performance of a company and the utilization level of their strategic tools.This study has hence helped to bridge this gap by comparing Wools worth Company and BHP Billiton Company in Australia. BHP Billiton and Woolworth Company however have used different strategies and tools to ensure a success in their business. MichelLacombe, the CEO of Wools Worth Company, once said that one of the strategies that have made Woolworth succeed was meeting their customers needs by maintaining and delivering goods at a low cost. Another strategy that has helped improve customer service is the one stop shop concept and the grocery retaining concept. On the other hand, BH Billiton limited has always used unique strategies in its operations, for example, in 2015 it invited state owned officials for games and paid all the expenses (Hubbard Moore, 2012:99). It is stated that this helped improve and cement relationship between the leaders. Similarly, Rio and BH Billiton signed a joint venture as a marketing strategic tool that had its effects on the sales of the company (Roth, 2013:195). Hence, the joint venture helped in cementing leadership ties between the leaders of these two companies. Background Information of the Companies BHP Billiton Company is one of the worlds top companies that produce major commodities including copper, uranium, iron, and metallurgical coal. Similarly, the company has alarge interest in coal energy, oil, and gas (York, 2011:88). The companys products are often soldworldwide, and sales and marketing are usually conducted through the United States. Moreover, the company has a team of very many employees and contractors who exceed sixty thousand. On the other hand, the priority of the company is people's safety and health as it aims to develop an environment that is free from injuries, occupational illnesses, and fatalities. Furthermore, the size of the company is big, and this allows it to meaningfully contribute to communities, thus, building community relationships that are collaborative. Equally, the company aims to maximize economic and social benefits of its operations and minimize its environmental paths through productivity,innovation, and technology (Hubbard Moore, 2012:97 ). Wools Worth Company is Australias biggest supermarket chain. It operates 961 stores in Australia and relies on a team of motivated employees in its distribution centers, and storesto provide their customers with reliable and convenient services.In essence, Wools Worth Company has over 10000 employees (Thomas Hill, 2012:63). The supermarket sources 100% of themeat that is fresh and 96% of fresh fruits and vegetables from the growers and farmers in Australia. The company allows consumers to shop in their comfort at home using the Woolworth supermarket app. Research Methodology During the research, questionnaire technique was used to collect the necessary information.Equally, self-administered and online questionnaires were used in the study. The respondents were allowed to use the questionnairethat was convenient for them. A cover letter explaining the purpose of the research,therespondent's confidentiality, and the respondents participation importance accompanied each questionnaire. Sampling and Data Collection The research sample had a total of 30 respondents. Moreover, the questionnaire consisted of various parts that were essential for the research. It began with questions concerning the details of the organization; the next part needed the respondents to state the management and strategic tools each company utilizes. The final part required the respondents to explain how each of the tools stated affect leadership and customer services. In the end, the data collected was analyzed and recorded in the form ofpiecharts. Discussion The BHP Billiton Companys strategy has been to operate low-cost life and upstream assets that are diversified by commodities. This has enabled the company to always deliver the best margins in the whole economic and commodity cycles over the years. Its asset base, which has low cost, enhances theflexibility of their cash flow and thus allowing them to invest and growtheir businesses all through the economic cycles (Lee, 2011:114). Thishas helped the company deliver long-term value to all customers and shareholders. Another tool and strategy applied in Billiton Company is the signing of joint ventures with other countries. A good example is when Billiton signed a joint venture with Rio Tinto.The joint venture has helped bring together many world class people, iron resources, and infrastructure. It has also helped build good relationships between leaders in various companies across the globe. Equally, the strategy has helped combine the procurement, overhead activities, and management into one entity (Kurt, 2014:78). Diversification is another strategy that the company uses; it has aimed at recruiting workers from its host communities, and this has helped to develop the skills of local people. On the other hand, Wool Worth Company has various strategies including putting the customers as the major stakeholders. Similarly, the company listens to what the customers want and say,and this has helped to maintain a good relationship with the clientele. Moreover, Wool Worth Company has created new innovative ways of operating including an online application for shopping has been created and thus making shopping easier for clients. This strategy makes the company unique since it is not applied in Billiton Company. Mobile technologyhas also made shopping easier at Wool Worth Company. They also give the customers a chance to share their ideas on how they can improve the stores (Verweire Revollo, 2009:115). Conclusion The study has tried to provide empirical evidence about the utilization of management tools and techniques and has tried to explore the relationship and effects of the same to leadership and customerservice.It is quite clear that the application of good tools and strategies has a positive impact on the development and growth of an organization and its small enterprises. What has made the Billiton Company the best is their good strategies and tools that are used. Equally, customer relations areother key tools that need to be put into consideration when laying the strategies of a company. This was brought out quite clearly by the good Wool Worth customer relations. Customers can lead to the success or failure of a company hence they should be handled with much care. As such, thestudywill help research even more in this area of studyand will be used as a source of literature by otherresearchers. List of References Hubbard, T. N., Moore, M. J. (2012) BHP Billiton: Mining Potash, Evanston: IL: Kellogg School of Managemen. Knecht, M. (2014) Diversification, Industry Dynamism, and Economic Performance: The Impact of Dynamic-Related Diversification on the Multi-Business Firm, Wiesbaden: Springer Gabler. Kurt. (2014) Strategy Implementation, Abingdon: Oxon: Routledge. Lee, G. (2011) Leadership Coaching : From Personal Insight To Organisational Performance, London: Chartered Institute of Personnel and Development. Roth, M. (2013) Top Stocks 2013: A Sharebuyer's Guide to Leading Australian Companies, Milton: Qld, Wrightbooks. Thomas, R. S., Hill, J. G. (2012) Research Handbook on Executive Pay, UK: Edward Elgar Pub. Verweire, K., Revollo, J. E. (2009) Sustaining Competitive Advantage Through Product Innovation : How To Achieve Product Leadership In Service Companies, Gent: Vlerick Management School. Vinten, G. (2010) Improving Organisational Performance, England: Emerald Group Pub. York, N. (2011) BHP Billiton, New York: NY: Datamonitor.