Questions and answers
- 1. Analyze NTUC Fair Price Cooperative Ltd vision, mission and values and their connection to the sustainability of the company.
Sustainability is the ability of the management to maintain the company at a certain level without allowing depletion. NTUC Fair Price Cooperative Ltd Company is the fastest growing retailing outlet in Singapore thus emerging as the largest retailer in the country serving over more than 500 thousand shoppers daily. The company has a vision of being the leading retailing outlet at the global marketing level. This is important as it keeps the leaders on their toe to ensure all the activities conducted add value to the company and not devalue it. The mission of the company is directed to ensuring that the level at which their customers are served is highly regarded and offer the best products. The measures put in place should ensure that the company is developing to the better site following strategic measures enhanced by the management. This is important as it ensures customers acquisition and retention into the market important to ensure sustainability of the company.
The company also was founded on values that clearly defines the code of conduct of both the leaders and the employees as the main service providers to the esteemed customers. Some of these values are empathy, teamwork, caring, trustworthy and customer focus. These values ensure that the qualities of the employees are favorable to enhance positive customer service provider relationship as well as positive customer’s outcome. The ability of the company to ensure that these values are observed and maintained ensures sustainability of the company. Customers are the main actors in an organizational setting, as a result, their relationship with the rest of the company stakeholders should be ensured to enhance delivery as stated by the set goal and objectives.
- Identify and analyze measures of control used in supplier’s selection control
In any given company or organization, measures of control are important and refer to appropriate methods or directions given to ensure that the type of products and services given are in line with the set objectives and goals to enhance development. NTUC Fair Price Cooperative Ltd control measures in selecting suppliers are in line with the set values, mission, and vision that enhances sustainability through good control. Only reliable suppliers are acquitted by the supply department to produce good products to the company. the elected suppliers are subjected to personnel’s from the international audit team to ensure that the products they give to the company are of the required standards and guarantee the safety of the company’s customers. In conjunction with the supplying department, the company has also enhanced logistics to ensure only the right products are given to the company a process verified through the check system. Cold chain management put in place also ensures that the products supplied are fresh and are in a condition supported by the retailing policies.
The company’s management has a role in ensuring that the trust bestowed upon the company by the consumers is maintained to enable sustainability. Through the supplying rules set aside by the company’s management, the suppliers endorsed should ensure good quality products are given and at the most favorable prices. Logistics and supply management are aspects and the current trend in the supplying department that every supplying department in a company should enhance. This ensures that the products given are the best and in good condition and are also at the best prices. Supply chain management ensures that the network in which the information reaches the customer or rather the consumer is the most appropriate. NTUC Fair Price Cooperative Ltd has highly upheld the two aspects of supply management hence its success.
- Analyze how effective is NTUC Fair Price Cooperative Ltd leaders in conducting its operations management and planning
Operations management in an organization or company is an aspect of management that entails the processes of production and redefining the other activities in ensuring that goods and services produced and provided to the customers are the best. Planning is an aspect of management as well that ensures strategic measures are put in place to enhance achievement of certain goals and objectives. NTUC Fair Price Cooperative Ltd leaders are keen on the measures they enhance as the company’s main aim is to remain at the top as they provide their customers with the best goods as well as services. To start with are the set values that dictate the code of conduct to be followed by the employees ensure a well-working environment that also ensures proper relation with the consumers.
The process by which the suppliers are subjected to check systems ensures that the appropriate goods reach the consumers as well as strategic means of dealing and appreciating the customers. Offering goods and services to the consumer’s at the most favorable prices enhances sustainability. Planning aspect in NTUC Fair Price Cooperative Ltd is evident, since its development in 1973, the company has relevantly grown and emerged as one of the most important and prestigious retailing outlet in Singapore signifying good planning strategies. Measures put in place to ensure that non-food items are of high quality illustrates that the company has enhanced assurance program of only providing the best to the customers. Lab testing with the certified departments ensures that strategic procedures are enhanced to ensure high-quality products are given to the consumers and using the right procedures.
- Discuss the measures put in place by NTUCFair Price Cooperative Ltd important in enhancing proactive corporate social responsibility strategy.
Proactive corporate social responsibility (CSR) refers to business practices and strategies put in place or enhanced voluntarily by business entities like organizations, companies or industries. These strategies are mainly meant to enhance and effectively manage social responsibilities by contributing largely and extensively towards development of society projects or through other aspects that enhance development of the society at large. In the contemporary society today, business organizations are entities that are believed to enhance social development by ensuring that the current trends in the business sector positively effect on the society activities. Example, the new technological trends in the sector like use of computers are important in enhancing research carried out with a view of ensuring effective project developments.
In our case, proactive CRS has largely been enhanced by various activities carried out
NTUC Fair Price Cooperative Ltd management. Some of these activities include the following;
- To start with, the company has introduced measures or initiatives important in reducing food wastage. This has been done through support development of Ngee polytechnic drive for establishment of food bank important in saving donations. This is important as it ensures that those that have excess food are able to donate as a way of helping the less fortunate in the society. This is a voluntary process enhanced by the organization and ensures that people can easily afford what they need at all time with the help of the donations given.
- Through public education, the organization has impacted skills important in society development and have also provided volunteerism opportunities to enhance these skills. Through this , the organization is in line to support community conservation process by supporting the various activities done in line of conservation as well as join the celebration of the successful activities of conservation that have taken place. This is important as environmental conservation prevents pollution important for society development.
- Discuss how effective management planning has impacted on sustainability.
Management planning is a role of an organizations management team involving the process of assessing the set organizational goals and coming up with a detailed plan on how to achieve them. The plan involves all the relevant changes that would support achievement of the goals that enhance sustainability. In every organization or company, sustainability is very important as it ensures that the ability of it to develop and maintain development is very high. In our case study of NTUC Fair Price Cooperative Ltd management has enhanced effective planning. Through management plan development, various changes have relevantly taken place enhancing growth and development of the company. Since its formation in the year 1973 as a single outlet, changes have enhanced its development to forming one of the best and prestigious retail outlets in Singapore and with a vision of being the best in the global market. These changes relate to technology important in the modern retailing activities. Establishment of iPhone application enhanced the means by which the retailers and customers are able to connect with a lot of ease thus maintaining the market. Establishing a productive partnership with OCBC and NTUC created a favorable link for the company to acquire more development opportunities important for enhancing the sustainability of the company’s development evident in the year 2013 where it opened its 16th hypermarket at JEM.
The management also has introduced a new logo along the way that has greatly impacted on the less fortunate in the society. This was not only important to the vulnerable but also to the company’s development as it gained more trust from the stakeholders. Changes in social and economic sectors in an organizational setting influences development important as they have to be maintained. Economic sustainability of a business entity deals with the ability of the unit to produce and distribute products in the best manner important in maintaining the level of the company. While social sustainability ensures the maintenance of all the social aspects of the company as well as the acquisition and retention of the customers.
- Identify and explain both global and regional challenges that the company may be facing and their effects on development.
Challenges are the difficulties that the company faces while carrying out its productive activities. These challenges may be in line with the organizational structure, organizational culture, competition as well as lack of appropriate marketing strategies. Organizational structure refers to a system of control that includes the set rules and also policies enhanced to delegate responsibilities and the expected code of behavior. Properly developed and implemented organizational structure also determines how required information moves from one level to the other at the expected rate and time. The challenges faced by the company in line with the organizational structure relate to the measures put in place to ensure all employees follow the set values while relating to the customers and also while carrying out other related duties. To enhance employee skills NTUC Fair Price Cooperative Ltd had to carry out training to ensure that every employee understands the set rules, values and goals important in enhancing development and organizational culture. Culture refers to the ways by which the company carries out its activities. The training process to enhance the skills of the employees calls for an extra cost which a challenge is affecting the company’s development as more funds are utilized.
Another challenge faced by the company’s operation management is the increasing number of shoppers on a daily basis in the company’s outlets. This affects the rate at which the management is able to maintain adequate supply chain as the target numbers fluctuate every day. These affects the company negatively as lack of commodities by the customers one single day may result to loss of trust on the ability to deliver to them. Increased competition in the global market also results in the company’s management not able to cope with the increasing rates important for development as it may lose the customers to other developed global companies.
- Give recommendations that NTUC Fair Price Cooperative Ltd leaders should engage to improve management planning of the company
Effective management planning is very important in an organizational setting. In enhancing the company’s management planning activities, the leaders should encourage the adoption of strategies important in improving employee’s productivity ability as well as improve on operations management. Some of these strategies include human resource management, logistics, and supply among many other strategies. Human resource is an aspect of management that is enhanced to help improve the ability of an organization's workforce. This ensures that the employee’s roles are clearly stipulated to ensure there are no conflicts that may arise at the workplace. Also, the strategy ensures that the ability of the employee is enhanced by incentives given to them. This ensures their motivation to work towards the company’s set goals is enhanced through the incentives like salary additions, free loans, and good working conditions to enhance working environment as well as enhanced security for the employee's safety at all time.
NTUC Fair Price Cooperative Ltd leaders should enhance human resource management to enhance the abilities of the company’s workforce important for development. Logistics and supply chain management are aspects of operations management that are enhanced to help improve the level of supply as well as the conditions of the products supplied. Logistics refers to the processes carried out in various steps to ensure that all products given or sold to the customers are of high quality. This is done through the process of products standardization and inspection by legal bodies. Supply chain management ensures that the information about the products reaching the customer is the right one. NTUC Fair Price Cooperative Ltd leaders should adopt these aspects to ensure the product reaching the customers is of high quality and the information is rendered in the right manner.