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Question: Discuss About The Population Changes Implication For Economic? Answer: Introducation Management is the core area of a business, however; to achieve the business objectives it is important to make a proper management structure. Employees should work in a coordinated way to meet the organizational goal (Mendling et al., 2017). An integrating force is driven by the management to carry out the organizational activities. This study deals with the case study of Rock Paper Scissor, which is a popular hairdressing salon in Australia. However, this salon has started before 1 year and failed to achieve profit. After that, the Fadi and Fatima Khan the owner of this salon has won a national hairdressing competition, which is a big achievement of such organization. This salon offers the service seen days in a week to increase their sales. However, in the recent years, such salon has been facing some major problems. One of the most important is this salon has no mission or vision statement while the owner wants to make their business innovative. Therefore, no financial reporting is carried out on the monthly basis; as a result, the organization is unprofitable. On the other hand, the staffs of such salon are not time punctual and they provide free haircut to their friends by using the chemicals of such salon, which hampers the profitability of such salon. The owner is not able to gather the customer satisfaction data, as a result, they fail to identify the reasons for which the existing customers are unhappy. It is important for an organization to collect the feedback from their customers regarding the service (Haddow, Bullock Coppola, 2017). There is lack of tools to measure the employee performance, which affects the business of this organiza tion as well as their profitability. Proper management of the financial report: In order to gain profit in a business it is important for Rock Paper Scissors to manage their financial report on the monthly basis by collecting the bank statement, sales record, and customer data. This will be helpful for such organization to increase their profit as this enables them to measure their profit and loss on the monthly basis. Development of mission and vision statement: Establishment of the specific mission and the vision this salon can improve their strategic planning. This will enable the owner to be more innovative in their business. Analysis of the customer feedbacks: Collecting feedback from the customers will be an effective practice for Rock Paper salon. They can collect the customer feedback via online by creating their company website. This will be helping them to retain their existing customers by meeting their current demand. Performance measurement of staffs: Performance measurement can be effective for such organization to increase the efficiency of the staff. For this purpose, use of benchmarking based on the annual performance of the staff will be beneficial to measure the efficiency of the staff. Management concepts, theories, and principles Management concept refers to the proper management of a business including staff management, financial management and customer management (Winata, 2017). In the context of Rock Paper salon, they have been facing several issues in their business one of the most important is the staff management and financial resource management. Effective delegation is required for such business. In order to overcome the present issues establishment of the mission and vision is crucial for such organization. The manager of a small business like salon needs to focus on the personnel management. marketing have to satisfy their customers by resolving their service related issues. Planning, organizing, directing and controlling are the four parts of business management (Lapoule Colla, 2016). In the context of Rock Paper salon, it is important for them to understand the concept of management and to carry out their business operation. In order to achieve the profitability, it is important for Rock Paper sa lon to develop strategic planning and organize it properly. After the organization directing and controlling of the strategic planning is essential. Management theory Goal setting theory is one of the most important management theories that is applied by the business organizations to meet the business objectives (Latham, Brcic Steinhauer, 2017). Based on the subsequent performance the organization sets their business goal and this is the key principle of the goal-setting theory. An organization gets success by setting difficult goals rather than setting the easy goal. However, the goal should be clear and specific for the organization. On the other hand, realistic and challenging goal leads the organization to achieve greater outcomes from their planning (Neubert Dyck, 2016). Clarity, challenge, commitment, feedback and task complexity are the five principles of goal setting theory. In the context of Rock Paper Scissor, they have not any specific goal or mission. As a result, their financial status of the business is not good. Hence, for this organization a clear and measurable goal is required to lead their business to survive in the competitive market. Challenges are related with the goal hence, for this salon, it is vital to take the challenges to achieve the success. Commitment is another part of goal setting theory that enables this organization to share their goals with their staffs. Therefore, the organizations can collect feedback from the customers by following such goal-setting theory. On the other hand, the employees need to be sure to overcome the task complexity (Latham, 2016). In order to set the goal, the owner of Paper salon needs to arrange a meeting and ask the supervisor to set the goal. Then the supervisor will set the goal and tie it with the work unit of Salon. Then the staff is involved in goal setting and reward will be provided to the st aff based on their performance. After that, the specific areas are highlighted and feedback should be collected to measure the efficiency of the goal Management Principle According to the management principle, leaders are the critical part to gain success in a business. In the context of Rock Paper salon, it is important for them to develop their leadership skills to maximize the staff performance. An effective leader includes good communication skills in order to communicate with the employees (Schaltegger, Burritt Petersen) However, Rock paper salon has been facing poor profitability and staff performance. For an organization, it is vital to measure the performance of the employees and to motivate them to their work (Christopher, Laasch Roberts, 2016). In order to motivate the employees and make them punctual, an effective leader needs to establish an effective communication with them. Therefore, the leader needs to encourage their employees in their work to maximize the business profitability (Jesuno, Torres Teixeira, 2016). In the context of Rock Paper salon, the employees are not punctual and demotivated. For this purpose, the leader in this o rganization requires motivation. On the other hand, leaders of such salon need to be creative and trustworthy to enhance the profitability of the organization. However, the owner of Rock Paper salon is not able to collect feedbacks from their existing customers regarding their demand. Hence, the establishment of effective leadership the owner of such salon is able to deliver useful product information and collect feedback from them. Model of management Competing values framework is a vital model of the management that is associated with the organizational focus (Lindquist et al., 2016). However, it is crucial for an assignment to be adaptable, flexible and controlled while establishing and organizing any specific objectives. In the context of Rock Paper salon to control their business application of competing value frame model is important. This model includes four quadrants with two dimension forms. Each quadrant consists of a major model. Human relation model is the first model that leaves the special emphasis on the organizational flexibility and human resource development (Newton Mazur, 2016). In the context of Rock Paper salon, this organization can control their business operation by maximizing their flexibility and developing the human resources. Therefore, the open system model is another model of quadrants that focuses on the flexibility and the resource acquisition. However, for the Rock Paper resource acquisition will b e helpful for them to control the financial status of their business. Rational goal model focuses on the goal setting and planning to implement the goal (Wiersma, 2017). This will enable such operations to enhance their efficiency and staff performance. Next, the internal process model includes internal focus, stability, and communication and information management. This will help Rock Paper salon to make their organization more stable and establish an effective communication with their staffs. However, by the application of competing values framework, Rock Paper will be able to control their business planning and business operation. External environmental factors that affecting Rock Paper Scissors salon Several external factors are associated with the business of Rock Paper Scissors salon. Hence, the pestle analysis will be effective to understand the external environmental factors. Australian political environment is stable, which is essential for a business to run in this country (Gray, Harymawan Nowland, 2016). However, Rock paper is an Australian hairdressing salon thus stable political environment of such country enables this organization to get a good market to carry out their business without any legal obstruction. However, the stable political business environment makes a smooth way for any business in this country. Economic factor Australia has high GDP in the recent years that brings opportunity for the investor in this country (Uddin, 2016). On the other hand, the property prices are high in Australia, which may affect the business. In the context of Rock Paper salon, it is a small business and unprofitable. Thus high property price may affect the business of such organization, as it is difficult for this organization to establish their store in a high traffic area. However, it is important for the business to establish their business in the populated area. In Australia, the high traffic areas are Brisbane and Perth where the property price is high. Thus, it is hard for Rock Paper salon to buy properties to expand their business, as it is a startup business. Social factor Upper class, middle class, and the working class are the three main categories of the social life in Australia (Ma, Kent Mulley, 2016). However, people are faster in their life. Demand is changing in the market. Hence, such changing demand in Australian market will give an opportunity for Rock Paper salon to innovate new service in their business. People are more advanced and sensitive to their look. This big factor leads this hairdressing organization to expand their business in the Australian market. Technological environment New technology is involved in creating new service or product. Australia is technologically advanced. Australian science and technology support the emerging technology in Australia (Boer Gruber, 2017). The owner of Rock Paper wants to be innovative. Hence, utilization of the modern technology will lead this organization to improve the service quality, reduce the cost and make the business more innovative. The Australian government provides support to the research and development institutes of Australia that is helpful for the organization. Legal factor Maintenance of the legal laws in Australia is important to carry out a business in Australia without any legal issues (Allen, 2017). On the other hand, legal changes in Australia may affect the business of Rock Paper salon. As a result, they may force to change their operation process. Environmental norms Environmental laws should be followed properly by the organization in order to get the environmental sustainability (Giacalone Rosenfeld, 2013). In Australia Rock Paper salon needs to follow Environmental Protection Act 1974 to maintain the sustainable development. Contemporary management challenges Political environment often resists the business organization to innovate new things. However, according to the changing demands of the customers, the hairdressing salons need to keep with the modern trend. For this purpose, they innovate new things in their business (Wilkinson, Wood Demirbag, 2014). This is often restricted by the government rule of Australia in context of Rock Paper salon. Another management challenge is to compete with the large and popular brand. However, the staffs are not efficient in Rock Paper salon thus it is difficult for them to compete with the rival organization in the Australian market. On the other hand, the staffs are demotivated in this organization that may cause the high turnover of the employees. However, often the employees are not able to cope with the emerging technology as a result they demotivated and leave their job (Giacalone Rosenfeld, 2013). Retention of the existing clients and searching the new customers is another major issue of the management system of Rock Paper salon. However, it is often difficult for such organization to flexible with the growing demand of the people and to satisfy them, which affect the business. Conclusion The entire piece of study focuses on the management process of the Rock Paper Scissor. However, this is a startup organization with low profitability. This organization has no specific mission or vision that is the major weakness of such organization. However, there is no financial statement on monthly basis, which affects the economy of the organization. Therefore, the staff does not follow the discipline that affects the profitability of the organization. It has been found that existing customers of such organization are not happy and the owner is not able to understand the current demand of the customers. For this purpose, the feedback collection from the customer is necessary. However, effective leadership is crucial for this salon to improve their staff performance. Therefore, competing values framework and goal setting theory are applicable in this situation as these are beneficial for this organization to plan, organize and control their business. It is important for Rock Pape r salon to measure their employee performance to understand the position of their organization. On the other hand, the external factors like political, economic, environmental, legal and technological are also addressed in this study. The stable political environment of Australia gives the opportunity to such organization to enhance their business in this country. On the other hand, the high price of the property in Australia affect the business of such organization, as it is a small business thus expanding high cost in establishing the store in high traffic area may affect the profitability. Recommendations It is recommended for the Rock Paper salon: To chose an ideal location for the business: However, it is important for the salon to establish their store in high traffic area to gather customers. In the context of Rock Paper salon selection of the proper area will be helpful for their business to enhance the customer numbers. To adopt performance measurement tool: It is important for the Rock paper salon to measure their staff performance level to understand their ability and efficiency within the organization. Hence, use of performance, appraisal and benchmarking are effective to identify the efficiency of the employees. Recruit high quality and effective employees: Rock Paper has been suffering from poor profitability thus recruiting high-quality staff who have experience will be beneficial for such organization to improve the business performance. To implement high-quality service: Providing quality service is essential for an organization to improve the image of the brand. For Rock paper, it is crucial for them to improve the quality of the service to satisfy their customers. References Allen, B. (2017).Constituting the Australian environment: the transition of political responsibility for the environment in Australia from state to federal government, 1974-1983(Doctoral dissertation, University of British Columbia). Boer, B., Gruber, S. (2017). Legal Frameworks for World Heritage and Human Rights in Australia. Christopher, E., Laasch, O., Roberts, J. (2016). New approaches to introduction to management courses.Journal of Management Education,40(3), 359-361. Giacalone, R. A., Rosenfeld, P. (Eds.). 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