Issues faced by Rock Paper Scissors-Free-Samples for Students

Question: You are to write a Management Report providing analysis and recommendations about how a hairdressing salon called Rock Paper Scissors can be managed to success in the contemporary Australian Environment. Answer: Background: Rock Paper Scissors is a hairdressing salon that has been established after one of its owners won a major Australian national hairdressing competition. In the present situation, hairdressing salon has been facing many contemporary challenges and lacks strategic and financial planning, does not have defined goals and objectives, there are no mission and vision statements seeking to their stakeholders. There has been no profit generation by salon since it has initiated its operations and they seem possibly unprofitable. In the present study, it is required to carry out the evaluation of strength and weakness that would enable the execution of properly planned strategies. Documentation of policies is absent that is leading to theft of properties by their staffs and staffs are highly demotivated and not punctual to their duties. Salon does not have properly developed metrics and indicators for measuring customer satisfaction and gauging financial performance (Baden Higgs, 2015). All these have lead to hampering the overall performance of salon its long-term sustainability. Recommendation: Proper management of salon by incorporation of management skills for handling human resource and financials. Formulation of mission and vision statements and setting goals with defined business objectives. Implementation of performance management for measuring employees performance Development of key performance indicators for gauging salon financial performance Development of techniques that would assist in recording customer data needed for generating feedback on customer satisfaction and retaining them. Management concepts, principles and theories: Mission and vision statement: Strategic planning of organizations should incorporate the formulation of mission and vision statements as they help in creating a proper identification and their purpose for serving the stakeholders needs. Rock Paper Scissors does not have any mission and vision statements that would assist them in development of measurable objectives and gaols for gauging the success of their developed strategy. Various stakeholders such as customer, investors, communities and government are able to identify their role in organizational process with the help of formulation of mission statement (Bala Matsak, 2014). Mission statement of Rock Paper should be formulated after core competencies identification that would provide them competitive advantage. Recommendations: Mission statement of Rock Paper and Scissors should be developed in such a way that it is meaningful, coherent and concise and following points should be outlined: Education, innovation, trust and development Capabilities and business competencies Purpose of business Emphasizing on component needs Sustainable requirements essentials Strategy, goals and objectives: Salon does not have established goals, objectives and plan that make it difficult for its target market about its service specification and their cause of establishment. Any business needs to have properly defined strategies, objectives and well set goals for generating profits and experiencing growth. Nonetheless, goals should not be set promptly as this might lead to inappropriate and improper goal formulation. Industry such as hairdresser intends to serve diversified market and incapability of providing customer centric service as per target market would lead to downfall of business. Foundation of salon would be incorporate in goals setting that will help in measuring their performances (Huarng Ribeiro-Soriano, 2014). Recommendations: Developing action plan for the target set Establishment of properly documented and written policies Budget development Developing performance indicators Strategic and Financial planning: Rock Paper and Scissors does not have well defined strategic and financial planning that is the reason behind their poor performance. A business is required to face the external and internal environment challenges for experiencing prolonged sustainability. This particular hair dressing salon does not have proper financial plan that is regarded as back bone of any business (Ehrhart, 2015). Financial reporting of Rock Paper is done on monthly basis and the accountant is responsible for preparing financial statements. It is required by salon to realize the importance of planning. Recommendations: Salon should establish the link between investments, financial decision and performance of business. Reviewing financial reporting and gauging financial performance by development of financial indicators. Preparing salon for any unanticipated issues of external environment in Australia Determining weakness and strength of salon Leadership: Growth in employees and customers cultural diversity and ongoing changes in Australian society can be dealt with management and leadership skills. Managers are required to provide employees with sufficient training in skills of customers service and knowledge about products. It is of utmost important for any organizations to employ the leadership style that is appropriate and is suitable to deal with prevailing situations. A leader in any organization is required to be pragmatic producer and deciding director who are concerned mostly with profitability of business and productivity of employees as per rational goal model (Carnes et al., 2015). Depending upon situation, different style of leadership can be appointed. Team leadership style and theories of behavioural leadership helps in managing employee performance. Recommendation: Depending upon salon situation, seven style of leadership and contingency leadership style should be employed. Salon should employ intentional change theory for driving employees and managers to achieve vision of organization. There should be encouraged and collaborative participation that would help in delegation of tasks, sharing of responsibility, coaching and mentoring employees, reflective listening and leading by example Motivation: Motivation creates employee engagement and job satisfaction and this would be built by addressing extrinsic and intrinsic needs of employees. Staffs of rock Paper do not arrive timely and they are not motivated and are theft to property of salon. Performances of employees are driven by three motivational forces according to McCellands, theory of needs that involves influence, affiliation and achievements. Influencing staffs for persuading staffs to engage with work and creation of interrelationship is involved in affiliation that is also related with belongingness to team. Achievement deals with finding solution to problems, mastering of tasks and goal settings (Dunning, 2015). Furthermore, there are five needs that motivate employees within organization as per Maslows hierarchy of need theory. Such needs are self actualization needs, social needs, ego and self esteem, physiological needs and safety needs. Recommendations: Needs suggested by Maslows hierarchy are some of the contributors towards employees motivation and for motivating employees, rock paper should employee such theory. Factors that are considered most important for employees and that motivate them should be employed by adoption of conducting survey using several questionnaires. Focus of salon should be on motivating employees by focusing on creating job satisfaction and building of a clan culture. Performance management: For any organization, programs of performance management is regarded as crucial and it provides assistance for assessing whether employees are living up to expectation of objectives of salon and whether their responsibilities and efforts are being rewarded. As observed from case study, Rock Paper and Scissors does not have any method for tracking customer satisfaction and records of customer satisfaction. There are no key performance indicators for measuring financial performance and this makes it difficult for salon to keep a record of their performances (Mangi et al., 2017). Salon would experience increased productivity of the employees are rewarded by way of performance appraisal. Recommendation: The development of appropriate ways for getting the operations of business done by involving employees in salons planning stage of strategy formulation. One of the parts of performance management program should involve rewarding employees that would ensure optimum productivity and performance and achieving maximum profitability. Policy of performance management of Rock Paper Scissors should incorporate evaluating individual employee performance and reviewing them. Innovation: One of the single most ingredients for the organizations long-term sustainability is innovation. Process of innovation at Rock paper Scissors would help in improving their existing operations by developing, prioritising, testing and modifying them. It has been ascertained from some precious research that there exist positive relationship between customer knowledge, business growth and strategic planning with the implementation of successful innovation within organization. Innovation strategy is regarded as significant for organization in hair dressing industry because of rapidly changing customer style and preferences, shorthand product life cycle and intense competition in Australian environment (Odumeru Ogbonna, 2013). There are various factors influencing innovation in salon business and in relation to this, few points are recommended that would help in bringing innovation to business of Rock Paper. Recommendation: Employing participative strategy by encouraging a collaborative environment that will help in creating new efficient process and several possibilities generation. Change will be implemented in salon by incorporating change in financial, human resource and marketing strategies. There should be new logo creation along with business tag line that would impart proper message to its target market Managerial environment in which hairdressing salon operates: Managers of hair dressing salon should have a priority of providing ongoing training to their employees for strengthening their employee retention plan and recruitment strategies. Managers are required to fulfil various tasks and skill development in planning and resource management. For enabling hair dressing organizations to survive in era of current and future challenges requires management training to commence at earlier stage of business. In small and medium enterprise, business management training is related with emerging skills gap. Working climate of organization should be conducive to high degree of personal development and satisfaction of employees. Managerial skills should be related with harnessing of employees potential in the retention process (Scott et al., 2017). External environmental factors affecting hairdressing salon: Over the past five year, there has been expansion of the hair dressing industry in Australia. Operations of hair dressing salon is impacted by several factors that are listed below: Economic drivers- Hair dressing industry has been benefitted from the Australian economy structural shift. Salon needs to employ the strategy of providing customers with unparallel services to enhance the selling of add on products and services of salon. Technological advancements- The process of performing business in salon are impacted by the rate of adoption of information and communication technology. Salon business requires some of advancement such as text messages for service confirmation and management software appointment (Lyons et al., 2013). Operations of salon are impacted by such factors. Trends- Strategic planning of salon and the ongoing trends significantly impacts the operation of salons. Growing population- Increasing population in Australia has led to high discretionary income increase in demand of beauty and hair dressing services. Priorities and process of managers of Rock Paper and Scissors: It is essential on part of Rock Paper Scissors managers to have greater knowledge and proper understanding of technology. They require possession of variety of skills for fulfilling wide range of roles in small enterprise such as Rock Paper. Managers should have in depth understanding of technology, financial matters, business planning and management of human resources. They are required to have the skills of financial management for understanding the process of business that helps would assist in profitability maintenances (Nahavandi, 2015). Knowledge of global economy is also important for relating it to their businesses. Skills of human resource management are crucial for managing the workforce and thereby improving their morale and productivity with diverse needs. This will help in improving social well being of employees and individual customers. A long-term approach is required for managers training in hair dressing industry relating to managing broad areas such as finance and human resources (Kessler, 2017). Therefore, in light of various issues presented due to internal and external factors, managers at Rock Paper Scissors needs to develop such skills for effectively managing the salon business. Contemporary management challenges presented by issues faced by Rock Paper Scissors: Issues faced by salon would lead to evolution some of the challenges that are listed below: Salon would be facing challenge in generating profits for their business and creating obstacle to their long-term sustainable development. Lack of any strategic approach would lead to difficulties in maintaining competitive advantage. Challenge would be faced in terms of customer retention as there are no way of collecting data and specific services for their target market. Some of other challenge evolves from external environmental factors such as government regulations seeking hair dressing industry and some environmental regulations. Conclusion: Analysis of the case of Rock Paper Scissors has helped in ascertaining the several issues faced by salon that is mainly related with managing of human resources and financial planning. Issues have been faced by salon on several other fronts such as customer retention, customer satisfaction, impossibility of profit generation, lack of employees motivation. Report has addressed all the prevailing issues by employment of several management theories and principles. There are many contemporary challenges in Australian salon business environment that would be faced by Rock Paper Scissors if they are not effectively developed internally. In all the lights of issues presented in the case study, there is urgent need to employ appropriate goal, strategies and objectives. Recommendations: In nutshell, all the recommendations discussed above would lead salon to establishment of their mission statements and formulation of strategic objectives and goals. Rock Paper scissors needs to employ management theories that helps managers in inculcating several skills that is urgently required to manage the business. Employment of Motivational and leadership theories will help in addressing issues faced in front of managing human resources and customer retention and satisfaction. Issues faced on financial front should be handled by framing financial planning that are regarded as the backbone of any business. All the recommended points would help Rock Paper Scissors to evolve as salon operating on small scale with its pre requisites to handle contemporary challenges in Australia. References list: Baden, D., Higgs, M. (2015). Challenging the perceived wisdom of management theories and practice. Academy of Management Learning Education, 14(4), 539-555. Bala, V. 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