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What is Companies?

Companies sit at the center of business education because they serve as the primary unit of analysis for understanding how markets, management, and economies function. Courses in business administration, organizational behavior, international business, and human resources all use the firm as a starting point for examining broader questions about competition, labor, strategy, and social responsibility. What makes companies academically interesting is their dual role as economic actors and social institutions — they generate products and profit while also shaping employment, culture, and public policy in significant ways.

Student papers on this topic approach companies from a wide range of angles. Some take a case-study format, examining specific organizations and markets, such as direct foreign investment decisions or the entry of Ford and General Motors into the Russian market. Others focus on functional areas like global human resources management, training and development practices, and quality management's effect on domestic and global competition. Policy-oriented papers address issues such as job outsourcing and its effects on the U.S. labor market, while ethics-focused essays examine corporate social responsibility and global sociocultural obligations. Leadership analysis also appears, looking at what makes executives effective in complex organizational settings.

A strong essay on companies should establish a focused thesis tied to a specific business function, market condition, or organizational challenge rather than attempting to describe a company in general terms. Evidence drawn from industry data, financial performance, or documented management practices carries the most weight. The most common pitfall is treating a company as a background subject rather than a lens — the firm should be used to illuminate a larger argument about markets, organizations, or strategy.

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Research Paper Undergraduate
Leadership Programs Leadership Has Always
Leadership has always been important for the betterment and success of U.S. businesses and nonprofit institutions. Now, this is true more than ever before. As the world becomes increasingly global, technology makes…
Research Paper Undergraduate
Evolution of management theory from classical to contemporary approaches
Over America's history, views on what business management should entail have changed continuously along with the advancement of technology. In this paper, management is defined as those individuals who ensure that the…
Paper Undergraduate
Environmental crime and tropical deforestation in global economies
Economic globalization and the demanding competition it often creates in economies that were previously mostly local can potentially have devastating environmental effects. Additionally, it is also not uncommon to see…
Paper Undergraduate
Work/life balance for working parents through on-site childcare
Workplace Problem: Creating an Appropriate Work/Life Balance for Parents
Paper Undergraduate
ISO 9002 certification and quality improvement at Neural Manufacturing SDN Bhd
The international Organization for standardization plays an important role in ensuring that businesses throughout the world are practicing the proper standards. The ISO is currently the largest developer and publisher…
Paper Undergraduate
Relationships, goals, and action plans in nonprofit fundraising
Crucial Organizational Concepts for Non-Profit Organizations
Paper Undergraduate
The four functions of management in the hospitality industry
¶ … Functions of Management at Work in the Hospitality Industry: A Brief Examination
Paper Undergraduate
MRP systems and mathematical optimization in supply chain management
The intent of this paper is to analyze how the initial development of MRP systems led to the development of optimization approaches and processes for more effectively managing supply chain, manufacturing, and demand…
Paper High School
Ordinary and convertible shares traded on the Australian Stock Exchange
The ordinary shares I have selected for this study are Telstra's regular shares, which trade under the symbol TLS on the Australian Stock Exchange. These shares carry the basic rights and responsibilities of all…
Paper Doctorate
Williams-Sonoma's fragmented multichannel strategy and integration challenges
During the timeframe of the case study, Williams-Sonoma is creating a multi-channel based business model that lacks the level of integration between online and brock-and-mortar stores to scale profitably. While the sales are increasing quickly for Williams-Sonoma, Pottery Barn and outlet stores, there is little evidence of online buying behavior driving in-store purchases. Worse yet, there is no indication that the high-end stores in their business are enjoying greater sales as a result of their e-comemrce sites. Without a concerted strategy to drive greater upsell and across channels, Williams-Sonoma will eventually end up being two or more companies. This is exactly why the industry they compete in is also following this growth trajectory; the attempts to focus on several segments at the same time is diluting focus on the selling cycle of customers. Retailers need to realize that the more effectively they manage the selling process both on- and offline as a single, unified strategy, the more profitable over the long-term they will be (King, Sen, Xia, 2004). The case indicates that there are fundamental shifts in how customers are choosing to shop online. The prevalence of social media is a case in point. As customers are increasingly relying on the most trusted sources of information, often their personal networks on Facebook, LinkedIn, Twitter and other social networking sites, to drive their purchasing (Bernoff, J., & Li, 2008). Williams-Sonoma is not taking into account the communitization of their customer base, but rather assuming no interaction between online and offline customers. This is going to drive the company to operate as several different businesses over time. By better managing the entire purchasing process across both online and offline channels, Williams-Sonoma will gain a significant competitive advantage in the market. Today they are encouraging a bifurcated, fragmented view of their channels. By aligning online and offline strategies to a common objective or goal, the company will be able to better manage costs and predict revenue and profits more effectively. In devising and managing a multichannel strategy that involves online shopping and the potential for offline purchasing, retailers are discovering that the decision processes consumers use are changing quickly and significantly in favor of the Web as a product comparison tool (Reynolds, 2002). Williams-Sonoma will be able to unify their online and offline strategies through the more effective use of social media as well, creating a unique and highly differentiated customer experience in the process (Bernoff, J., & Li, 2008). In five years if these changes are made Williams-Sonoma will be able to challenge Amazon and other larger and more diverse competitors with a highly effective, unified e-commerce strategy that interlinks directly to their retail outlets. If they do nothing they will end up just as fragmented as the market they are competing in today, forced to eventually spin off specific retail divisions or store chains that no longer make sense for how far customers have changed in their decision-making and purchasing criteria. The bottom line is that how, where and who customers trust for information is changing much more rapidly than the Williams-Sonoma existing channel architecture and e-commerce strategies can allow for.