Case 2

McDonald’s

Both McDonald’s and Nando’s have a training plan for their managers, but each of them differ immensely. McDonald’s is using gamification, making use of video and board games to train the managers into making decisions, which they would take during their jobs. The simulation helps them make mistakes and learn from them, without the repercussions that would occur if the same mistakes were made during the work. The training also seems to be interesting as the people who tried it started spreading information about it on social media, without any prompting from the company.

The training in itself seems to be pretty simple, while at the same time being fun, easy to do at home or work, relatively cheap and effective. It focuses on giving the employees training for their current job, instead of focusing on the long term development, but that does fit the McDonald’s imago and I imagine that a lot of the employees are not looking for a long term job. The fact that they are planning on doing a game in 3d, however, seems to be a huge step backwards as it adds an unneeded level of difficulty in accessibility, as people need to know how to actually play the game instead of a 2d game, where you just have to click the right spots, the game becomes greatly harder to modify to fit the future needs of the company. Creating a 3d game might even mean that the game requires a graphics card, making it unplayable on most laptops.

The orientation and socialization, on the other hand, are superb in the sense that it allows new employees to have time to learn the basics of work while surrounded by other new employees and playing the game. The fact that everyone has to be physically present in this, unlike in the manager training game, helps people bond with each other, and ask the people in charge questions and actually get good answers. If they had to start by following someone in the work during the 1st day, they would not know anyone else who started the same time as them and would likely not receive good answers if the one in charge of them had to do their own work at the same time.

Nando’s

Nando’s has ingrained it’s mission, vision and values into their training and it has paid off. ”Each restaurant [is] managed by a patrao, which is Portuguese for head of the family” (Pollitt, 2013) and Nando’s has multiple different trainings programs starting from the ten days of on‐site training, which includes training in food hygiene, health and safety as well as Nando’s values. New employees get the orientation and socialization in the same package, while at the same time they get to see how they might improve their career in the firm with the buddy system, for example, where two people called ”buddies” are responsible for training in restaurant. The fact that ”80% of the company of the supervisors used to be buddies”(Pollitt, 2013), should give motivation for self -development in the company.

The training sessions in Nando’s seems to be clear and effective, with a lot of thought put into the process as well as the result. The fact that people that from people who have just started working in the company, to people in higher positions all receive training, must have a positive effect on the family values the company has and must increase the motivaiton as well as the skills of the people being trained.

Sources:

David Pollitt, 2006.  Human Resource Management International Digest, Vol. 14 Issue: 2, pp.19-21

Case 1

Abercrombie has been hiring people based on their attractiveness and skin color and now they are toning down their sexualized marketing and renaming some of the job position names. In the article an old abercrombie model describes how she got the job and what it was like.

The people who got hired as models into the shop were all attractive and white women. They didn’t have an interview so looking good was the only requirement. There were other people the same age who didn’t meet the criteria to interact with the customers and they had to work in the stock room instead. The company didn’t care about diversity at all and hired people of ethnicity only to avoid lawsuits.

Abercrombie seems to have it’s recruitment and selection process fused as one, since they ask people who have everything they want (good looks) to come to the ”interview” They didn’t seem to care at all about the recruitment, selection and socialization mentioned in the course book. (Balkin, Cardy, Gómez-Mejía, 2016) The turnover rates must have also been great, considering the horrible hiring process and the way the employees were just thrown into the job.

The article didn’t mention if there were other sources of recruiting done in Abercrombie than the face-to-face invitation to the interview, but considering the how they wanted good looking people, they might have just mainly relied on inviting the right kind of people personally to join their company. The company also just straight up ignored all the selection tools, which could have given light to the performance of the the employee (ability tests, etc)

The legal issues in staffing, however seem to be numerous: they obviously discriminated against other ethnic groups than caucasians, and wanted the models to look attractive. Those who did not meet the conditions had to work out of sight. No interview also seems to indicate that they Abercrombie had been neglicently hiring people.

 

 

http://www.nydailynews.com/new-york/fdny-hopefuls-losing-eligibility-unfair-hiring-process-article-1.3276893

Firefighter applicants who got the same score were chosen based on the 5th number of their Social Security numbers, instead of further testing.

http://newrytimes.com/2013/04/08/tesco-recruitment-process-angers-community/

The Tesco store, which was opened in Newry and promised to employ 200 people has not been transparent in their recruitment and applicants got rejected under 24 hours of applying. Some of the applicants had both education and experience, but were rejected the same way. Tesco did not respond the questions sent to them about the hiring and the locals think that the people who got the job were already selected beforehand.

 

Entrepreneurship 1

TRIGGER 1

Your uncle has won 5 million euros in lottery and would like to encourage you to become an entrepreneur. He would like to invest some money in his favorite relative’s (you) new business idea – which you do not have yet! He is a tough businessman and doesn’t want to lose the investment and naturally is looking for handsome profits from the investment. Therefore, he is using some investment banker friends of his to assist in assessing the potential business idea that you will be presenting to him. The amount of the investment is open, but naturally he would not like to put all his eggs into one basket.

You feel confused about how to get started with gathering the required material together and decide to ask your friend who recently founded a high-tech startup a few years ago, and managed to raise funds from angel investors and VCs. Her advice was:

”Please follow your heart and brain, do what you want and can do and don’t try anything too fancy. Come up with a brilliant business idea. No man is an island and the world is full of opportunities, you just need to recognize them. You need to take all aspects and steps into account and you must be able to communicate them comprehensively and in an organized way.”

 

 

Things to do before a business plan
Research all the relevant sections,  Decide the legal structure, . Manage the numbers, ain industry reports, Research the market, Clearly define and articulate the customer benefits

(http://articles.bplans.co.uk/writing-a-business-plan/top-10-things-to-do-before-you-write-a-business-plan/386)

 

The 1st step would be to follow your heart. If you are passionate about something, it usually means that you have more knowledge about it and thus might have an insight what is needed/wanted in the circles which share the same passion.

To sell the idea, you are going to need to

  • estimate the startup cost
  • scope out the competition, see what they are doing and try to innovate.
  • Check the target market and their needs

The idea has to be complex enough so it cannot be easily replicated, but at the same time scalable and have a steady cash flow.

To see if you business plan is good you might  want to try doing some tests with functional prototypes to see what works and what doesn’t. See what your competitors are doing and see what you can learn from where others have failed and which successful ideas should you use.  Use a focus group, social media or even a crowdfunding page to test out your prototype. You might also use the prototype and the results you got when talking with potential investors.

Potential questions to be asked while planning a business idea:

  • Why do I want to start a business?
  • What problem do I solve?
  • Who is my target customer?
  • What resources do I have?
  • What are my goals?

(https://www.forbes.com/sites/mikekappel/2017/09/20/how-to-test-a-business-idea/#15a26a30635b)

what does the business plan contain

1. Your basic business concept

2. Your strategy and the specific actions you plan to take to implement it

3. Your products and services and their competitive advantages

4. The markets you’ll pursue.

5. The background of your management team and key employees.

6. Your financing needs.

 

Key words (investement, key figures, breakeven point, business idea, business plan, value of the company)

creating a company

communication in a business

 

Problem statement (how to create a business proposal)

How to plan a business

Learning objectives

 what defines a good business idea, what to do before a business plan is written, what does the business plan contain

Financial statement

 

 

 

Lecture material (mandatory source)

Mccann, B. T. (2015). Opportunity evaluation and changing beliefs during the nascent entrepreneurial process. International Small Business Journal, 33(6), pp. 612-637. (mandatory source)

Barringer, B. R. & Ireland, R.D. (2012). Entrepreneurship: Successfully launching new ventures (4th, glob. ed.). Harlow, Essex: Pearson. (mandatory source)

Read, S., Sarasvathy, S., Dew, N., Wiltbank, R. (2017). Effectual entrepreneurship (Second edition.). Abingdon, Oxon; New York, NY: Routledge.

Osterwalder, A., & Pigneur, Y. (2010). Business model generation: A handbook for visionaries, game changers, and challengers. Hoboken, New Jersey: John Wiley & Sons.

https://www.thebalance.com/create-a-startup-business-plan-in-easy-steps-397548

https://www.forbes.com/sites/mikekappel/2016/09/29/5-tips-for-profitable-business-ideas/#511100bb59d2

https://www.forbes.com/sites/mikekappel/2017/09/20/how-to-test-a-business-idea/#15a26a30635b

https://www.entrepreneur.com/article/239407

http://articles.bplans.co.uk/writing-a-business-plan/top-10-things-to-do-before-you-write-a-business-plan/386