Strategic Management (SM1)

Introduction

Strategic management suggests the basic implementation and formulation of the key initiatives and goals adopted by the higher authority of an organization. According to Hill et al. (2014), strategic management is solely based on the consideration of market assessment and resources both in external and internal environments within the particular organization operates its business. In today's competitive business world, every large corporation applies appropriate strategic management in order to achieve the desired goal in short time. There are several incidents, which clearly reflects the fact strategic management has a great impact on enhancing the market share and sales revenue in a massive manner.Eden&Ackermann(2013) have mentioned that strategic management identifies the competition level of an organization and then provides relevant strategies in order to cope up with the competitor companies in the same industry.

This particular discourse will discuss the strategic management practices of Woolworths, a popular supermarket chain in Australia. This essay will also evaluate various theoretical concepts, which are closely associated with the strategic management. Strategic management has positive influences on the managerial practices of an organization and this study will examine than in a vivid manner. At the end, there will be effective recommendations for Woolworths, which will help this particular company to improve their business operations both in local and global manner.

Strategic management practice of Woolworths

The grocery market and retail industry are heavily concentrated in various cities of Australia(Barney&Hesterly, 2015).Woolworths can be considered as a leading supermarket chain in Australia as it captures more than 50% market. The sales of Woolworths has a great role in the contribution to the national economy. As Woolworths operates more than 700 supermarkets under several brands, therefore, it is necessary for the higher management of this particular organization to follow strategic management in a stringent manner (Woolworths 2017). On the other hand, the particular individual is the employee of Golden North, which operates its business in the food and beverage industry of Australia. Golden North produces premium ice cream, which is made of fresh ingredients for catering hygienic food to the customers.

The strategic management of Woolworths involves the improvement of overall business with a hike in the market share at least by 36% in this present year. The strategic management of this particular company has an impact on the term of sales, a number of stores and supermarkets, geographical coverage and revenue. The present strategic management of Woolworths is to extend its business in a global manner. Woolworths has opened more than 200 stores in New Zealand and 25 stores in India through a joint venture process with Tata. The strategic management of Woolworths re-establishes the marketing campaignin order to add values for the existing stakeholders. It also boosts the constant business growth of the respective company in the retail industry of Australia.  As opined by Harrison&John(2013), strategic management deals with the cost minimization and core business.

The strategic management of Woolworths involves a solid focus on in-store services, valueand quality product, in order to cater the best to their customers and to survive in the tremendous competitive Australian retail industry. Even the strategic management of Woolworths reevaluate the structuring of the electronic business. Woolworths provide enough sales, discount coupons and various offers both for their new and existing customers. Slack(2015) has argued that the customers are at the center of any kind of business and the retention of customer satisfaction is ultimate for an organization. Innovation and creativity are the major strategies followed by Woolworths and following that, this company will be able to approach the international market and can create sustainable, profitable and unique development.On the other hand,Rothaermel(2015) has stated that transparent reporting system allows for providing quick information.

The strategic management of Woolworths also help the higher authority to establish new values that are following:

• To market the products responsibly
• To source the seafood from various sources, which are sustainable
• To ensure that the respect the basic rights of the staffs
• To avoid GM food for contributing to the deforestation
• To become more trusted by the suppliers, customers and community
• To be responsible enough to operate hotels and restaurants in various locations of Australia
• To be committed to providing the best services at best price

All of these mentioned strategies will help Woolworths to compete with the competitor companies, such as Coles, Aldi and Metcash. The major strategies of Woolworths involve exclusive brand products at a lower price than its existing competitors, limited range of products and constant focus on the retail market. The higher management of Woolworths has adopted the price change policy in an effective manner. This company provides products to the customer at a lower price when the market price is high and the staffs place a note in the stores for attracting the customers while shopping with them. Vogel&Güttel(2013) have mentioned that strategic management mainly focuses on the existing competitors in the industry. Even the marketing strategies of Woolworths are unique and interesting. The higher management has engaged effective marketers for making relevant surveys in order to understand the competitive advantage. The marketers have focused on the digital marketing process and have used the social media platform for attracting the customers. The marketers have used Facebook, Instagram, Snapchat, Twitter and the official website of Woolworths for the advertisement. Even during the seasonal sales, they attract the customers through these mentioned social media platform (Ausfoodnews.com.au 2017).

On the other hand, the present employee of Golden North should understand the necessity of strategic management for future growth of the company. Golden North is not famous like Woolworths as this particular organization has failed to adopt relevant and appropriate strategies, which are suitable for their business. Hubbard et al. (2014) have contradicted that short-term goal and approach generally help an organization to grow in future. However, the higher authority of Golden North has concentrated on the long-term approach and the value proposition. Both of these mentioned strategies have performed negatively in the revenue and market share. Golden North has no strategies to expand its business with the help of team partnership or any kind of joint venture, which has been proved as the best policy of market entry in the international business scenario (Golden North 2017).

Application and evaluation of theoretical concepts of strategic management

According to Frynas&Mellahi(2015), the theory must simplify the assumptions of the management of the organization. There are various theoretical concepts related to the strategic management. Complexity theory suggests the complexity strategies adopted by the organization for further success in the industry. On the other hand, this particular strategy helps to study the complex system of the strategic management. Complexity theory can be considered as interdisciplinary theory, which has been growing out the popular system theory.Morden(2016) has stated that set of various organizational concepts explain the complex phenomenon of complexity theory. Complexity theory integrates relevant ideas from other important theories, such as chaos theory, system theory and information theory. Complexity theory reflects those complex behavior of the organization during the implementation of required strategies.Greco et al.(2013)have contradicted the above statement and has mentioned that the complexity theory is solely concentrated on the way of an organization resembles the market. Even this particular theory supports the maintenance of ecosystem by the organization. However, the basic proponents of the complexity theory state that the important traits are usually shared by the complex systems. All of these systems involves a combination of several independent actors, which are behaving as the single unit. Complexity theory explains the numbers of independent actors in order to demonstrate the patterned behavior of an organization.Foss&Knudsen(2013)have argued that complexity theory rationalizes the actual behavior of the complex and large systems. However, it also helps to shape the entire system for a positive outcome and the constant transformation over time.

Porter’s Diamond theory explains the competitive positions of the business organization in the global market. Porter’s Diamond theory is also famous in the name of Porter Diamond theory of National Advantage. Kasemsap(2014) has mentioned that Porter's Diamond theory clearly discusses the factors that are important for the global competition. Porter's Diamond theory assumes the basic competitiveness of any kind of business is solely interlinked with the performance of the other business in the same industry (refer to Appendix 1). All of the factors are combined together in an established value-added chain in long distance relation. Porter's Diamond theory suggests that the businesses operates its activities within a cluster that stimulate the productivity, improve ultimate business outcome and foster innovation. Porter's Diamond theory provides a perfect opportunity for moving to the international market and maintain their existence and tackle international competition. Langston&Lauge-Kristensen(2013)have determined that this particular theory involves the production factors, such as infrastructure of the organization and knowledge of the employees as these are considered as essential factors for maintaining a competitive advantage. All of the relevant factors are grouped within the material resources, such as human resources involving commitment and qualification of the employees and labour costs. It also includes the natural resources, for instances, climate, oil and essential minerals as these will be a reason for building the international competitive position. Porter's Diamond theory also depends on the success of the market as well as the existence of the related industries and suppliers in the region. If an organization is successful within an industry, then it will be also beneficial for the supporting and related organization. According toPettigrew et al. (2015), competitive suppliers have reinforced the internationalization and innovation.

Core competition theory is closely associated with the management theory and it can be harmonized a perfect combination of several skills and resources, which possess the capability of distinguishing the position of the firm in the marketplace. Core competition theory clearly reflects the characteristics, assets and skills of the particular organization from the rest of the organizations in the same industry. These skills, assets and characteristics are concerned as fuel for innovation as it promotes the basic roots of the competitive advantage. Core competition theory suggests the development of the new business underlying the basic components of the competitive advantage of the organization. This particular theory involves coordination, harmonization and integration of various diverse skills. Bailey et al. (2015) has contradicted the statement and has stated that core competition theory supports advanced streams of technologies for the further development of the company in this technologically advanced business world. Core competition theory provides essential access to wide variety of markets. This particular theory makes a great contribution to the perceived benefits of the customers from the value products and accessible price. Core competencies suggest enough strengths, which are related to the competitor companies and provides a fundamental basis for the basic provision of the added value. Core competition theory reflects various collective learning within the organization. It also coordinates diverse skills of production for a successful communication within the every level of the firm. Core competition theory promotes a deep commitment to the stringent following of the leadership for further growth of the company.

Critical evaluation and examination of the procedure of influence of managerial practices by theoretical concepts

The theory is completely about causal relationships and logical factor amidst of an established concept. Kasemsap (2015) has stated that most of the large corporations follow some effective and appropriate theories and models in order to survive in the competitive business market. All of the mentioned theories on the previous section are apt enough for Woolworths. The business experts of Woolworths have made a thorough survey of the organizational theories before implementing them within the organization. Woolworths follows complexity theory as it concentrates on principle and agent. Complexity theory will help the higher management of the concerned company to encourage the innovative thinking and allowing the units of the business to be self-organized. Following the complexity theory, the organizational leaders of Woolworths are required to give up the rigid controlling power of the organizational system. Even the managers of Woolworths need to allow the company for evolving in response to the ongoing messages from the consumers. Complexity theory has a clear influence on the basic efforts to downplay management in order to know today's unpredictable pace. The market can be determined by the initiative of the team and organization for adopting new economy. Complexity theory will give enough scope for formulating a perfect and required guiding vision for the organization. Even following complexity theory the manager of Woolworths will manage the interaction of the company with the existing companies in an efficient manner without entertaining any kind of chaos or rigid rules.

On the other hand, Porter’s Diamond theory clearly possess the capability to assist the managers of Woolworths to expand business in the international market. The managerial practices of the concerned company are influenced by Porter's Diamond theory in an immense manner. However, there can be advantages as well as disadvantages following this theory. This theory supports the changes in the management policies, interaction in between companies and working morale during the business functions in the international market. Porter’s Diamond theory also encourages the organizations to employ alternative environmental systems or alternative energy in the international market if faced any issues. This particular theory will not be helpful for Golden North as this company is going through the changes of ownership, therefore, there is very less focus on forming the brand reputation strategy. Even Golden North is only limited to few locations of South Australia and the management has no plan to expand its business in other locations of Australia and international market.

Core competition theory is apt both for Woolworths and Golden North as both of these companies encounter a severe level of competition in their respective industry. According to Morden(2016), an organization requires both the tangible and intangible resources in order to be competitive. Following the core competition theory both of the mentioned companies can achieve the difficult challenges in the market. Core competition theory has great influence on the managerial functions of Woolworths as it enhances and manages the competencies in the response to the constant changes in the industry. This theory suggests to focus on the strategies of the competitor companies, therefore, it is apt for Woolworths. Following the core competition theory, the higher management can concentrate on the business activities and strategies of its existing competitor companies, such as Aldi, Coles and Metcash in the retail industry of Australia (Woolworths 2017). There are several pieces of evidence, which reveal the fact that large corporations have encountered failure only because they fail to implement suitable strategies and theories for their organization. Therefore, Woolworths and Golden North can regenerate their potential strategies in order to fight back the tough competition. With the constant changes in the market and customer preferences, the organizations also change strategies, therefore, core competition theory will help Woolworths to build apt and trending strategies for future.

Recommendations for improving strategic management of Woolworths

Although Woolworths implement appropriate strategies in the organization, still this company requires improvement in its strategic management. On the other hand, Golden North has poor strategic management, therefore, it requires effective suggestions to improve its strategies. The recommendations are following:

• The business experts and the corporate planners of Woolworths should be more attentive while making the strategies for the company.
• The adopted strategies should be changed annually and the experts should focus on the contemporary trends during the setting of strategies.
• Before making the strategies, the planners should analyze the issues encountered by Woolworths.
• The digital marketing strategy should be improved in order to cater a large number of consumers at the same time.
• Woolworths does not pay attention to the customers’ feedback, which can be considered as an essential medium of examining the performance of the products as well as the company. Therefore, the strategy planners should create a place both in the stores and website of Woolworths, which can collect the important feedback from the customers.
• The strategy planners of Woolworths should develop their existing international business strategies for more expansion of the business. As the supermarket business is constantly growing in the international business, therefore, Woolworths possesses a great deal of scope for increasing the sales revenue and market share with the opening of stores in various countries across the world.
• On the other hand, Golden North should engage efficient strategy planners for improving their present business operation.
• There should be proper implementation of strategy in order to mitigate the issues of changing ownership of Golden North as this particular issue affects the brand reputation.
• With apt strategic management of Golden North should come up with other products rather than ice creams only for surviving in the competitive food and beverage industry of Australia.

All of these mentioned recommendations will help Woolworths to retain its leading position in the retail industry and Golden North to make a position in food and beverage industry of Australia.

Conclusion

Strategic management will have a negative impact if only strategic planners are involved. There should be an involvement of the employees, different level of managers and the leaders. Strategic management deals with innovation, creativity and competitive advantage. After the completion of this study, it can be stated that the managers, corporate decision makers and business unit leaders play an important role in the strategic management. However, there is always the necessity of implementing issue-based strategic approaches. However, all of the business units of Woolworths do not require strategies to be improved. Therefore, the managers should identify those problematic areas and apply relatable strategies. The recent surveys on strategic management reflect that most of the companies fail to adopt the chosen strategies. Even for the case of Golden North, the failure happens only because of not applying the suitable strategies. However, as Woolworths is a renowned organization, therefore, this company hopefully implements the recommended strategies for further success in the retail industry. The chosen recommendations will help the firms in earning a competitive market edge. Both the firms will be able to enhance their current position thus steadying ahead in the respective field. Likewise a competitive market  advantage can be gained.

HOW PERSONAL DEVELOPMENT PLAN HELP IN CAREER PLANNING?

All of you have written your personal development plan in your dissertation paper, right? Can I ask one question? Why you write your personal development plan in your dissertation paper? Can anybody answer me?

Well, it is obviously to show our research planning, research experience to our readers so they can get understand about the possible issues related to making dissertation or survey in market. We also write down our issues faced while working in dissertation or surveying in market to show our problems in front of our readers and make them experienced about.

Ok… then tell me now, do you believe personal development plan can help in your career planning? Don’t be surprised. It is not out of the blue but if you get real life experienced through personal development plan, then why it cannot be used in your career development?

Obviously, it used and work too. You just have to stick to some basic rules that will lead you towards your successful career. Below are the rules that you must have to stick on.

Aware of weakness: The first benefit you get through personal development plan is to make yourself aware about you weakens. Yes, it is the biggest positive point that leads your life towards making successful career. As you get aware of your weakness, hopefully, you will try to overcome it in between your student life that t may not be a hindrance towards your career.

Realize strength: Like binary opposition, you also get aware of your strength. Sometime it happens that we find ourselves wrong in prediction that what is our strength and what is our weakness. Through personal development plan, this prediction we found correct because we already have an experienced on it. 

Revision of career: These both strength and weakness help you to revise your career again and stick to your goal. If I am not wrong, most of us realize later that we are unable to choose our right career track. We think we can do marketing jobs easily while we realized it too hard in reality while career in finance or HR can be better for us. As we already have done a pilot study of these genres in market through personal development plan, therefore, choosing proper career for us became easy. 

Decision making: I think this is a good thing that you earn through personal development plan. Right? Yes, I am because lack of decision making sometime lead us towards back while if we are getting confidence over it, our career planning will be easier.

So, now you can understand why Personal Development Plan is not only for academic purpose. Make it use for your career development. Yes, we study for this only and let implement our knowledge to build us better career for ourselves. Let’s start! Start from now onwards… 

HOW TO CHOOSE DISSERTATION TOPIC?

Is it seriously needed? Guidelines for topic selection? It’s quite funny yah. So let me say about how do you select your research topic? Opps! I forgot. Your professor has selected topic for you in your Graduation. Right? Ok, no issue, then just tell me how do you select your topic for assignments? What are the basic criteria?

Simple, finding an issue with our related field, gathering information about that issue and framing topic. Only three steps are enough. It would be better if we analyse that issue based on some case studies. Well said but for dissertation, only these three steps are not alright. Don’t forget you are appointed as a role of researcher and your duty is to point out the actual situation with proper justification in front of your readers. Your approach will be realistic and all data must be dynamic. So, you have to work too hard in case of choosing your dissertation topic.

Look, ‘dissertation’- the term itself is very serious that we cannot take it as in casual tone. So, selecting a dissertation topic is not an easy task for students especially those who are possessed their Master Degree. It is difficult because here your professor is not supposed to frame your thesis topic on behalf of you. That part was done in your graduation year but in advance studies like Master's level or Ph.D. level, you have to frame your topic by own. Another thing is, based on that research topic; your entire academic evaluation will be rated. So, choosing any simple and easy topic will not help you in getting good grades in final examination. So, you have to be very careful and realistic at the same time while going to select your dissertation topic. Below some points are given to help you in selecting your research topic.  

Choose favorable field: Always select your favorable filed to select your research topic. Look, research paper requires your own point of view, analysis, justification. So, if your topic will be out of your knowledge, then it will be difficult for you to draw proper conclusion. So, your topic must be from your favorable field.

Select your interesting genre: Your interested genre must be reflected in your research topic otherwise, you can’t be able to analyse your research paper and its appearance will be very fishy to your readers. Suppose marketing from MBA is your favorable field. From this, you are interested in branding genre. Then your selected research topic must be from this genre

Do market research: Do a detail market research about your favorite genre. It requires otherwise you cannot find out the issue faced by market or companies. Suppose, you have found an issue in branding genre in demographic segment while it was working well in other market segments. So, you can select your issue from demographic segment only based on which your research topic will be framed.

Find out the issue: Now the time is for selecting your research issue to frame out your research aim, objectives, questions. Your issue must be realistic and informative. Any kind of vague information will be losing authenticity of your dissertation.

Select your variables: One independent and one dependent variable must be there on your research topic otherwise, you cannot able to draw a valid conclusion for your dissertation. Based on these two variables, your statistical analysis and regression will be calculated. 

Frame your dissertation title: Now, you can frame your dissertation title. Make sure, your title must include all above-mentioned points like variables, issue, interest. Title must be short but catchy. Don't frame your title in 20 or 50 words. It will be maximum 8-10 words.

So, now you can understand the basic criteria of choosing dissertation topic. Now you can present your research draft to your professor for approval. Hope you will do your best.    

HOW REFLECTIVE JOURNAL HELP IN CREATIVE LEARNING?

Are you interested in story writing? Are you enthusiastic in posting new events on your social media sites? If you are interested more in such creative activities, then why are you not trying to prepare your own reflective journal? Its not too tough task. Yes, reflective journal is basically your own thoughts on a particular event or past incidence faced by you. You have to just present your views and thoughts to your readers regarding that event with thorough analysis and arguments.

I know you are bit confused between reflective journals and argumentative essay writing style because both needed personal opinion to establish the rational outlook. Let’s inform you reflective journal is 40% similar to argumentative essay and 40% with reflection report. Rests 20% is your own opinion that how will you frame your paper, how the data will include in the paper and all. Not understand yet? Ok, let me explain you in detail. Start from its first similarity. It is 40% similar to argumentative essay; right? First, think what are the basic key points in argumentative essay? 

• ·         Key thesis statement
• ·         Theoretical arguments of scholarly authors
• ·         Your own justification

Second, 40% similarity is regarding your reflective report. What do you want to project through your reflective report?

• ·         Your issue with dealing the subject
• ·         Guidance to overcome those issues
• ·         Key Learning’s

Look, here I have segregated main points from your each 40% similarity. How we have to find out the common concept that has in both these two projects. What are they? First, it is the issue. Second, it is your key learning. So, reflective journal is nothing but your own reflection about your discovered issue that must be presented in different format that rests 20%. First 80%, you know how to write and proceed. For rest 20%, just follow our below-mentioned points. 

Useful background details: Your journal must carry useful information about your present event. Always remind, you are going to tell your readers about your experienced event or anything in which you have found interest. So, detail information with proper rationale must be presented in the first few paragraphs in your journal to make your readers aware of why they are learning your paper and what knowledge they should gain after learning this. It is like rational section of any dissertation. Without having that rationale your readers will never understand why are they study your dissertation paper. Similarly, if your background information is not sufficient and well justified, then your paper will lose its weight.

Justify your rationale: Justify your answer with more realistic way. Here is the difference between reflective journals and argumentative essay. In case of argumentative essay, your justification will support by various scholarly articles and their views. But here, in reflective journal, you have to present your own real life experience with supportive case studies to prove your justification towards readers.

Ananlyse your actions: Now it is your part. You have to justify your taken action in that situation that you have mentioned in your journal. Make sure, your actions must be ethical otherwise; it will create negative impact on readers. You also can support your taken actions by giving relevant case studies.

Share your thoughts: Share your thoughts like why are you taken those actions, why you observe that event like that way and something that. Mind it, your given thoughts will generate a new viewpoint towards your readers and that’s why your thoughts must be ethical and realistic. No fantasy will be accepted here.

So, if you have experienced with some interesting event, then don’t waste your talent on posting those writings on social media sites. Make your own reflective journal and share your creative thoughts with others. Always remind, knowledge sharing can enhance your learning capacity. Then don’t waste your time. Start from here. We will wish you a very ‘Good Luck’!!!

GUIDELINES FOR WRITING ARGUMENTATIVE ASSIGNMENT

Most of you can find maximum similarity between research project and argumentative assignment. For primary view, it is true. But don’t get confused. It is true regarding its justification and analysis but both research project and argumentative assignments are totally different with each other from structure. Research area in research project is limited but in argumentative assignment, your area should be broad. Research project is very shortened area of argumentative assignment that project the actual issue happen in the society while in argumentative assignment, the broader area will be disclosed. So, let’s learn something new about argumentative assignment. Please follow the below points that you must have to include while writing argumentative assignment.     

Clear thesis statement: Make sure, your thesis argument should be mention clearly in the first paragraph of your argumentative assignment. Readers have to know what is the main arguments of your assignment and what knowledge should they derived after learning your paper. So, a clear and justified thesis statement should be in introductory part of your assignment.

Enough background information: More and more information will require justifying your argument in that assignment. It is not any creative writing competition that you can write whatever was in your mind. But you have to prove your arguments by giving supporting evidence. Therefore, proper and authentic information should be required in your assignment. It is just like your literature review. Therefore, you have to show arguments and relevant models of scholarly authors to justify your point of view. Similarly, you have to place this literature review concept in this argumentative assignment in smaller way.

Detail research: Detail research is required to collect authentic information for your assignment. Argumentative essay is the smaller version of any research project. Differently is between there structure. So, to justify your arguments and point of view, you have to research a lot. You also can collect samples like dissertation to justify your analysis towards readers.

Arguments between scholarly articles: Argument between scholarly articles must be proper in your assignment. You have to project arguments between selected models or theories, between concepts and at the end, you have to justify which concept you have selected in this paper and why. Proper evidence can increase grade of your paper otherwise, it will be valueless towards readers.

Justify your arguments: This section is yours that can be applied while concluding the assignment. Yes, you can project here your own concept and point of view to show readers why they read our paper. Is it for learning something new or just for time pass? As an academician, your first and foremost target will be to increase knowledge of your readers and for that reason; you have to establish your arguments with suitable examples, authentic information, and supportive evidence. Rest is Reader's opinion.  

LET’S LEARN ABOUT ANNOTATED BIBLIOGRAPHY

Bibliography we all heard. But about annotated bibliography??? How many of us know about it? OMG!!! Ok, let me answer how many of us heard about this bibliography? Now it is satisfactory. We all heard about it but don’t know its application in academic services. Basically, annotated bibliography used mainly for writing scholarly papers, Ph.D. dissertations to show why the writer has selected those resources for their advanced study. So basically it is advanced and elaborative form of bibliography. Writer or researcher has to project the critical outlook of their chosen reference briefly.

Wait Wait Wait! Are you getting confused between annotated bibliography and abstract? Ok, let me clear this confusion first. The abstract is the overview of your written research paper while annotated bibliography is the justification of your chosen references used in our research paper or assignment. Simply saying, space of abstract is based on your research paper or assignment On the other hand; annotated bibliography is open-end writing of your used scholarly papers. It will increase authenticity of your research paper. So lets’ start to learn about writing annotated bibliography. Please follow our below steps:

Select all sources first: First step must be your resource collection. Gather all your primary and secondary resources to prepare your bibliography list. Make sure your collected resources must have a link with your assignment or research paper. Invalid resource is not required to prepare annotated bibliography.

Prepare Bibliography list: After collecting all relevant resources, now time is for preparing your bibliography list. Make sure, your bibliography list must be according to your required referencing style i.e. Harvard style, Chicago style, MLA style and all.

Identifies the arguments: Now its the time for preparing annotated bibliography. After preparing your all reference list, first find out the argumentative statement of your each selected resource. Write down each argumentative statement against of your each resource to show readers critical outlook of those selected papers. Make sure, it is not literature review, so don’t link each statement with other resource’s statement. Just point out your critical overview of your each reference and write it down clearly.

Discuss the relevance of your used sources: Make sure, after writing critical statement of your each reference, the next paragraph should be your evaluation i.e. why you have selected those references for to your study. Please follow the below example format of annotated bibliography,

Gulle, K. (1995). International marketing, 3^rd Ed. Oxford: London.
This book states …Here the relevance of this book is to …

Prepare list according to referencing style: Your reference list must be followed the required referencing style that you have mentioned in your college semester question paper. So prepare it accordingly. Each referencing style required different format of annotated bibliography. For example, MLA referencing style must have 3 paragraphs for each annotated bibliography. First paragraph is for summary of that text, secondly is for evaluation and third is your own reflection about that text. 

On the other hand, Chicago referencing style of annotated bibliography can be done through one single paragraph that contains both the summary and evaluation of your text. All are depended on for different referencing styles.

Now you can understand how to write about annotated bibliography. So, if you are assigned some project that requires annotated bibliography, just do it. Simply follow above steps. Your annotated bibliography will be completed easily.  

HOW TO WRITE A BUSINESS REPORT?

What do you want to be in future? Market analyst? Financial analyst? Business Development manager? Well, whatever your wish is, you must have to know technical things otherwise, you cannot sustain in these positions. No no wait wait, please! Technical things does not mean about learning technology but metaphoric technical things that will help you to sustain in your desire position. Yes, I am talking about business presentation, writing business report. Before going to the presentation, you have to learn about business report first otherwise, it cannot be explainable to your board members and obviously to your college members and this ‘business report' has too many metaphoric technicalities to solve business issue mathematically. So, here we are giving some useful points of writing a business report for both for your college semester and your official purpose.

Brief your business issue: Identifies your business issue in the first paragraph of report. Note that in practical field, you have no other options to rectify yourself. So, in college semester, it is your only opportunity to learn everything about preparing business report. So whenever, you assign yourself for writing this report, think practical. Your management board does not have so much time to listen to every words of your report. So, it must be short, specific, informative but practical in sense. So, identify your issue in first paragraph. 

Provide supporting evidence: Evidence is must and must necessary whenever you are going to work in practical field. So, apply this sense in first step that is from your college semester. Though that evidence will be not so much needed to your professors but if you worked in collecting evidence from first step, and then it will be helpful for you to present your views in business presentation. 

Think it just a research paper. Before stick on a specific issue, you have to prepare the literature review of your dissertation. Similarly, this business report also needs some specific and business related evidence that will support your presented issue.

Present market condition: Yes, market analysis is more important to prove importance of your business report. One question should be rising that what the basic difference between evidence and market analysis is. Well, market analysis is the second part of your evidence collection. Before identifying the issue, you first have to collect all evidence. In addition, after analysing the present market situation with that evidence only that identified issue is accepted in market. It is similar to any case study assignment. You have to relate your case study with present market conditions and before that, you have to collect necessary information f your case. Simply, business report is real case scenario of your present company that you have to present towards your board of directors with supporting evidence and market analysis.

Justify your findings: Now, the time is come to present your intelligence towards board members. Yes, this is the section to show your critical views, analytical mind and understanding nature of market. Give your own viewpoints to justify that business issue. 

Use financial tools, graphical presentations that will visually help your board members of instructor to understand the entire scenario and raise their hands for you.

Suggest recommendations: One recommending section you must have to require in this business report. Identifying the problem is not good enough rather than suggesting some way-out resolve that issue. Make sure your recommendation must be realistic and fruitful otherwise it will get down your company position along with your grades in examination.

Proof read: Proofread your paper thoroughly. This is very much technical writing any single mistake can create biggest hindrance to your growth. So be careful in this case and make sure, your paper is plagi free. 

TIPS FOR START-UP BUSINESS PLAN

Its sound too interesting. Yaa? Obviously, because it has a feel good condition. We verbally became entrepreneur in our own imagination. So, students appeared in MBA who are interested or aimed to be acted as an entrepreneur in near future, must be focused on this topic. It is because, through learning business plan, you can get necessary essence of how to be a successful entrepreneur. But wait, please! Though it sounds good but its implementation, in reality, is too hard. It is too technical to use in every step in contemporary market and get your desire result from it.

For suppose, you want to be a café owner. Then, your primary targeted customers must be between ages 15-45. Here I have used ‘primary’ word because these age groups are fond of coffee and more or less everyday they visit their nearest and favorite, friendly café. Therefore, your café location must be in any posh area or in any college or university campus. Right? But, if your café will open in any slum area or local areas then? No, it doesn’t work good and not give you desire result. So, before starting up your business, planning of its technicalities are too much important otherwise single mistake is enough to shift your dream into ash. So, please go through with our following tips before planning your start-up business. 

Select start up business: First look into your passion. What you want to open and why? Ask yourself first are you ok with your planned business. Have you all those support that you need for your future business. Select your business after getting answer these entire question otherwise, it will demolish in its first move. Try to get answers from your insight and plan your business accordingly.

Do market analysis: Next thing is proper market research. You must have to know your planned business could get any appreciation in contemporary market or not. If yes, then plan for next step but if not, then start from beginning. You have to select other business options. Other than that, you can do a little survey that why your previous entrepreneurs are failed to start up your planned business. Is there any loopholes in their strategy or the market itself not needs that. Analyse your previous entrepreneur’s strategy first and try to find out their strategic issue. If there any issue, then try for a demo project. If not, then you have to plan for something else.

It is like your research paper. When you try to find out any issue, you first have to complete your literature review to know previous author’s viewpoint. Market analysis is similar with literature review. After getting understand previous entrepreneur’s viewpoint, only after you can proceed to next step. 

Select targeted customers: Check once, are there any targeted customers for your start up business or not. Please be specific for your targeted customers. Start it from their age groups. Try to fix your target in specific age group. It will helpful for you to continue your start up business. It is too similar to pilot study in dissertation. Through pilot study, you can get understand the possible outcomes of your entire research paper. Similarly, through targeting any specific age group, you also can be understood possible success of your business plan.

Check financial support: Now its time for checking your financial support. Survey a lot that how much you need to start up your business and then check your fund. If you have not sufficient, then you have to manage it before implementing your business plan.

Project financial condition: Yes, here is the section to apply your all-academic knowledge that you have learned through finishing your finance assignment or report. Budget analysis, profit and loss statement, break even point development all are needed to be projected in this area that will indicate whether your project will be successful in near future or not. Whatever you may do, just remind it must and must be realistic.

Build your management team: Its time for building your management team for your start up business. Please remind your MBA module guide and assignments. Whom you are needed? Yes, accountant, human resource, market analyst and one IT person. One or two of these members must be experienced otherwise it will be difficult for your to continue your business. Project your financial analysis to them. Take their views. If all, are they agreed then you may start your business. However, just remind, always don’t rely on other’s statement. Here is the phase to apply your won knowledge and academics in real implementation.

Develop company description: Now, the time is come to develop your company description. Design your website and prepare your company description. It’s the tome for preparing newsletters and sending mail burst. Rest is ‘waiting for your best’.

Be ready. Time is come to fulfill your all desires and dreams. it’s the time to project your capability towards the world. Plan properly; be confident and implement your business plan. Hope you will do your best. Good Luck!!! 

HAVE YOU SUFFERED FROM EXAM PHOBIA??? NO WORRY! JUST RELAX…

Why are you worried so much? Only a few days you have to prepare yourself for exam? So what? It’s not too late. Still, you have few days. Opps! sorry… more hours, more minutes and seconds you have. Then why are you wasting these times to be worried? Come fast and let’s prepare for your exam. Yes, you can do. Believe me, it will not get you any sleepless night or you never be haunted by exam nightmares. It is time for utilization. Nothing is impossible in the world. Just bring confidence on yourself. Don’t get nervous! We are here to assist you in your preparation. Just follow our given points. We guaranteed you will be well-prepared yourself for your test.

1. Just keep calm and relax first. If you are too much worried, then you cannot be able to keep concentrate in your preparation. So just, let down all your nervousness and stay relax for some time. Bring confidence on yourself.

2. Have you your final syllabus? Have a look into that. Just check once that are you familiar all with those topics given in your final semester syllabus or not. If yes then it is ok but if not, then please sort out all critical topics and keep them aside first. First, prepare yourself with your familiar topics. If you get time, then you can start one of those critical topics for better study but always take decision according to your time shortage.  

3. Sorted out your all critical subjects. In those you are felt difficulties, please give time on them to make yourself prepared. It does not mean you can neglect others, those you think easy to manage. No… Don’t do this mistake. Manage your time by going through all subjects daily; at least once in a day otherwise you cannot fix out your issues.

4. Are you faced trouble in managing time? Don’t worry. Follow our instruction carefully. First, check your semester routine. Noted down the date of your hardest subject. Plan your preparation schedule accordingly. If your hardest subjects are in the first week of your exam, then start with it first and give more time on that to bring confidence on yourself.

5. Prepare schedule chart for your daily time management. Keep your maximum time for exam preparation. Keep 8 hours daily for sleep or relaxation and more 5 hours or break. Prepare yourself for rest 11 hours for exam. I think this is too much time for any students to get themselves prepared for their upcoming exams. 

6. Go through once with your class notes. Keep in mind, your instructor or professor wants to know have you ever listened to their words or reminded their guidance or not. So, if you overlook your class notes then, get ready for your fewer marks. 24*7 hours study also not brings you highest marks if your class notes are ignored. It is because you have made your professor realized that you listen nothing his/her lectures or not ever attend his/her, class. So, don’t do this mistake. Just once, tally your class notes for final preparation.  

7. Check previous year’s questions once. It will help you to understand important topics for your current exams. Also, try to solve your previous year's question paper to manage time for your upcoming exam.

8. Try to understand important ones. Make your eyes prepare to check important topics for your current year examination. Try to follow class notes. Check once what your professor has taught, in which point he/she has emphasized more. Take note carefully. That topic will be your important topic for upcoming test.

9. Take brief notes of your study. Make simple points and subheading to keep remember your learned lessons. Writing immediately after reading that lesson will help you to keep that subject in mind forever.

10. After done with your notes or sample tests, please revise it once. Continuous revision can help you to not forget your learned lesson and assist you in getting good marks in exam.  

11. Last and finally, avoid unnecessary phone calls to your friends. It does not mean to detach yourself with your all friends but avoid unnecessary phone calls. It will hamper your continuous and serious study. If you are getting irritate with too many calls and chats, then switch off your phones for some time or off your mobile data connection for some time. Prepare yourself first and then chat with your friends to get some breaks. But all must be on your planned schedule. 

So, what next? Be ready for your exam and plan your time management. It is utterly important to concentrate in your study to get good marks in semester. Last, we can wish you all the very best. Good Luck!!!