Business Finance

Effective Communication and Government Legislation Response |

Student one:

  • Government legislation has impact compensation in a number of ways. The most influential legislation to impact direct compensation is the Fair Labor Standards Act (FLSA) of 1938 and the Equal Pay Act of 1963.The purpose of the Fair Labor Standards Act (FLSA) is to establish minimum labor standards on a national basis and to eliminate low wages and excessive working hours (p. 250). This helps to set the standard for minimum wage and long working hours. This is a law still hotly debated and applicable today.The Equal Pay Act of 1963 is based on a simple principle: Men and women should receive equal pay for performing equal work (p. 251). This law is still relevant today, although we still struggle to bridge the wage gap. Martocchio noted that despite the goal of equal pay for equal work, various recent studies indicate that women make approximately 79 percent as much as men (p. 251).Personally, the Equal Pay Act is very relevant for me. It’s difficult to work alongside peers that are doing the same or lesser work, but are paid more just because of their sex.

Student two:

  • Government legislation has had important impacts on compensation. I believe in the free market and that less Government involvement is better for everyone, but unfortunately people are greedy and eventually the Government has to step in to make sure the playing field is level. Obviously things re not perfect, but there have been some laws that have helped make things better. The first law is The Equal Pay Act of 1963, which was an amendment to the Fair Labor Standards Act (FLSA). This law prohibits differences in compensation based on sex for men and women in the same workplace whose jobs are similar. This law is still applicable to the workforce today because unfortunately there are people out there still who would pay two people differently for the same job just because of sex.The second law is the one covering minimum wage, and is also part of the FLSA. I do not believe in a federal minimum wage, because the cost of living in California is vastly different than the cost of living in somewhere like Ohio. These laws are important for each State to establish. I believe compensation should ultimately be between the employer and the employee and that the employee should be paid what they deserve, but unfortunately once again that is not how things will always work. It is easy for an employer to take advantage of an employee who has no other choices for work, and without a minimum wage standard that could be stuck at that job without the ability to be able to afford living.

Student three:

  • PESTEL Analysis :Political

    POLITICALThe political factor for Starbucks are the raw materials and resources from overseas, due to Starbuck’s standard of social and environmental norms this leads to fair trade. Starbuck outsources raw materials from developed countries which they must follow the rules and regulations of not only in the United States but also in the developing countries which can lead into further political factors such as tax policies, employment laws and other political awareness factors.
    ECONOMICThe economic factor is how consumers are looking for a cheaper alternative, therefore, needing to create products not just for the high based consumer but also middle and low target consumers as well. Due to outsourcing ingredients, Starbucks has to worry about raising labor and operational cost. More economic factors which affect Starbucks from being global is the local currency exchange rates, the economic environment in different markets and the constant taxation level. SOCIAL
    The social culture aspect is how Starbucks has to stay trendy and sell products and drinks not only for its high based customers but creating products and a menu for its middle and low based clients as well. By following this strategy, Starbucks social-cultural factors consist of changing family patterns in the United States and Europe, consumer preferences, changing work patterns, changes in lifestyles of consumers and the level of education of the population in local markets and changing price range to meet different target markets and customers.
    TECHNOLOGICAL With innovated technology being created every day, the partnership with Apple to have an application “based discount coupons is a new way to keep customers engaged and partnering with Apple to have the applications, advertising and discounts to be marketed worldwide to also include with making payments via your Apple communication device. Starbucks must emerge and be consistent with technology, biotech and agriculture developments.LEGALStarbucks as well as any business operating globally or locally must ensure all laws and regulations are being abided by. Again, Starbucks must follow United States law but also the laws of the countries where they buy their raw materials because each year, or presidency, stricter custom and trade regulation may occur which may include licensing regulations related to the industry.ENVIRONMENT Starbucks business practice consist of concern (global + local) activists and advocacy groups and by having the activist and advocacy groups gain consumer’s trust. Concerning environmental trust goes back to understanding and following environmental rules and regulation, overseas agriculture can be destroyed during disasters which they produce coffee beans and global warming and what that looks like short term and long term globally. Starbucks operates in, the recession has hurt the consumer’s purchasing power. “Consumer buying power refers to the capacity of an individual customer or a specific market to buy certain quantities of goods and services. In general, high consumer buying power means customers have high incomes and purchasing power relative to the supply and prices of goods available. Low consumer buying power means consumers generally don’t have enough money to purchase goods at current market prices.” Starbucks being in the Food and Beverage industry, there’re are so many competitors with the same concept but are utilizing local and/or state side materials and resources to meet their customers need. Who’s to say this lowers the standard of quality but clearly it’s meeting all levels of its consumers need. To keep Starbuck’s evolving they must find other alternatives for their other target markets to include price change which may mean to lesser quality but they can look into local or statewide raw materials to manage price changes but elevating and expanding their target market can expand Starbucks. Also, to keep building partnerships with technology companies such as Apple will also expand the Starbucks’s brand.

Student four:

  • Netflix PESTEL AnalysisPoliticalOn-demand streaming services such as the ones offered by Netflix have impacted on the usage of traditional TV. The major users of the internet including T&T have asked for more regulations by the US government to control its use. This may impact the operations of Netflix. Likewise, Netflix will be impacted by the controversial ruling in the EU (Hitesh, 2015). This will entail treating Netflix as a traditional TV. EconomicNetflix offers competitive pricing as compared to traditional TV services. This has made it have more than 100 million subscribers. The issue of exchange rate will impact on Netflix. In the US, the company offers a fee of $10. Due to exchange rates and VAT, this may increase to $19 in some markets. This means that this will impact on the company’s global strategy since the value of different currencies is different based on the US dollar (Hopkin, 2012).Social-Cultural In the UK market, younger consumers are moving towards live streaming services instead of traditional TV. Social trends indicate that more people prefer watching videos using their smartphones instead of a traditional television screen. Netflix will consider cultural issues including language in the Chinese market since English is not the first language in the country. Additionally, it will consider the cultural practices such as religion and social events while marketing its online services in the Chinese market. TechnologyTo capitalize on 4K television, Netflix has invested in R&D to ensure 4K streaming is efficient. The company has created software known as Hermes that is focused on grading Netflix shows automatically. The innovation will ensure high-quality translations for Netflix programming as it provides services in 190 countries. EnvironmentAs the usage of internet increases, tech companies including Netflix have been asked by the global government to contribute funds as provided by environment bill. The company will need to use renewable energy in other countries just as it does in North America. Legal Netflix is under obligation to meet the business and copyright regulation in foreign countries. In addition, the company will need to act as per competition laws and avoid lawsuits such as the one it experienced in 2016 due to increase subscription fees without the knowledge of consumers.

Student five:

  • Communication is the process of sharing knowledge, opinions, and emotions between people by expressing, writing, or body language. Effective communication develops the notion to require transferred content that is received and conceded by someone in the way it was expected. The purpose of effective communication includes designing an understanding and obtaining information.
    Since we communicate so frequently through various modes, we should be experts. We are not. Based on this week’s research, six individual barriers prevent us from effectively communicating with others.Our inability to actively listen. People cannot engage with others if they are not listening to what it is they are saying.We tend to distrust one another’s intentions. It is challenging to communicate with those we do not trust and transparency.Cultural differences. Language is a significant barrier when it comes to cultural differences.Styles of communication. Some people may get caught up in details when explaining a subject, and others may generalize. Some are very direct, blunt almost, and others prefer an indirect style.There are also physical barriers to communication. Someone who crosses there arms may appear unapproachable.Finally, disinterest or dissatisfaction. If someone is unhappy or does not care, they will have a hard time communicating effectively.

Student six:

  • Effective communication is a process. This process involves a “sender” otherwise known as the person giving or distributing the message and there must be a “receiver” to retrieve this message that the sender is providing. This is the bare minimum for communication at least 2 people must be involved with one sending the message and the other person “receiving” the message. In order for it to be effective though encoding by the sender “the process where the sender translates information they wish to send in a message” ( H,M,C, T 2018). Then the receiver must be able to decode “perceiving the message sent and interpreting the meaning from the sender” ( H,M,C, T 2018). For this process to work both the encoding and decoding aspect must be accurate by both parties, meaning, to the sender must be able to accurately articulate and communicate their point and the receiver must be able to process and hear what the send is telling them via decoding the message effectively and correctly. The last and final part of this process in effective communication is when the receiver provides “feedback” or send backs a response to the sender after effectively decoding the message and the process begins again because now the receiver becomes the sender and the sender becomes the receiver during the feedback process. If any of these steps are missed or the receiver and sender are not effectively either using active listening (truly hearing and understanding what the person is communicating) and picking up on body language to make sure that both of them are actually engaged in the communication process it won’t be effective and misunderstandings/misinterpretations will occur. An example of the communication process in action would be a manager providing feedback on a project to an associate. The manager articulates in his head how and what he wants to say to the associate before verbally telling the associate he did a great job. The associate then must decode or hear what the manager is saying before responding back the manager with feedback letting him know he understand what the manager was communicating to him. The six individual barriers to communication are:

    1. Differing Perceptions
    2. Semantic Differences
    3. Status Difference
    4. Consideration of Self-Interest
    5. Poor Listening Skills
    6. Personal Space


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