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PROJECT ON MANAGEMENT CONCEPTS AND CONTEMPORARY PRACTISES ON

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INDEX

SR NO. 1

TITLE INTRODUCTION TO INDUSTRY

PAGE NO.

INTRODUCTION TO COMPANY : A)Brief history B)Organization structure and design C)Organization culture (HR practices, CSR and Ethics

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Competitive strategy of company A)Porter five force analysis B)Competitive strategy and its analysis

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INTRODUCTIN TO INDUSTRY Accenture is included in Global Fortune 500, which is 500 largest corporations in the world. The companys history has been more than 60 years in making-from the earliest days as a pioneer in the new world of information technology in the 1950s.its position today as a Fortune Global 500 industry leader. This industry has the strength of high performance business which builds expertise in consulting, technology and outsourcing to help businesses and governments perform at highest level.

Employees using their industry knowledge, they offer services, expertise and technology capabilities. They identify new businesses for their clients and develop solutions around their world.

They help in: Increase revenues in existing markets. Improve operational performance. Deliver their services more effectively and efficiently. Accentures definition of high performance is companys long term ability to outperform across industry and economic cycles and generations of leadership. They aim to help organizations to attend high performance, and apply solutions to transform themselves.

Accenture is an industry which gives focus on understanding of industry evolution, business issues and applicable technologies, enabling them to deliver innovative solution to tailor to each client.

INTRODUCTION TO COMPANY:

A)

Brief History

Initially called Andersen Consulting, Accenture was formally established in 1989, when a group of partners from the consulting division of the various Arthur Andersen firms around the world formed a new organization which focused on consulting and technology services. Accenture is one of the worlds leading organizations providing management consulting, technology and outsourcing services, with approximately 275000 employees. Its offices and operations are in more than 200 cities in 54 countries by having net revenues of $28.6 billion for year 2013.

Accenture helps organization by assessing how to maximize their profit and works with them to achieve their vision. It develops in implementing technology to improve clients productivity and efficiency. By 2000, Accenture had achieved more than a decade of tremendous growth, with net revenues exceeding US$9.5 Billion and more than 70000, professionals in 46 countries.

On Jan, 1 2001, the company changed its name to Accenture from Andersen Consulting as the result of an Arbitrators decision in August 2000 that severed the contractual ties between Accenture and Andersen worldwide society Co-operative (AWSC).The new name reinforced Accentures new positioning and reflected the organizations further growth and broadened set of capabilities.

B) ORGANISATION STRUCTURE & DESIGN

Accenture is currently structured as matrix, This type of structure helps to prevent silos forming and enables its to respond quicker to changes in its environment. Accenture describes how every group and function fits together to ensure that everything is done that needs to be done for the company to meet its objectives and viability 1) Work specialization Work specialization as an important organizing thing because it help employees be more efficient .Here individual employees specialized in doing part of an activity rather than entire activity. When specialization is carried to extreme, it can lead to problem, stress, poor quality, reduce performance.

2) Departmentalization

MARKETING DEPARTMENT

They believe that their experienced consulting team, including both legal and management consultants, coupled with cash flow model will create sufficient demand to minimize their dependence on advertising for client acquisition. However, starting out will require strategic efforts to build credibility and name recognition. After their initial success of operating near capacity they rely primarily on word-ofmouth and basic internet advertising. They know that entrepreneurs know other entrepreneurs, and are likely to share these consulting experiences amongst each other. Also, a financial network of angel investors and banks could create a demand for their services prior to full commitment for financial investment.

OPERATIONS DEPARTMENT

The internal flow of information is crucial to lowering costs and promoting effective operating procedures. They are bringing in house a diverse team of professionals for this very reason. A unified group of accountants, lawyers, management consultants, etc., will enable clear understanding of goals and expectations. Since the work performed is very dynamic in nature, there is not a single operating plan that they implement with every client. However, presumably everyone in their team look over the initial project, and have the work flow through various stages in the process, while some tasks are handled simultaneously. It is sometimes critical for their lawyer to look over the plan prior to any major advancement to make sure that the venture is legally viable. Other key operating factors include the location where they will establish their services and the means of acquiring clients in that area and methods of communicating with the client.

FINANCIAL DEPARTMENT

Accentures financial model is the backbone of their entire business plan. They believe that the ultimate needs of the start-ups will be targeting are confidence in expected revenues, and having someone to bear the risks associated with obtaining those revenues. They have created a model that will enable their firm to meet their clients needs by absorbing only a manageable amount of risk. The most effective way to gain the confidence of a potential client and to maintain attractive cash flows for the firm is to contractually base their revenue stream on the future cash flows of clients.

Organization Design

Organization culture HR practices

Customization of HR practices can greatly benefit employees and their organizations. Accenture believe managing a workforce using a workforce-of-one approach represents the next major phase of HRs journey as a profession. This Organization have achieved efficiencies and reduced costs through standardizing. Now they are using standardized framework in HR practices to employees. For instance, company has group employees by a wider range of criteria that include learning styles, values, personality, wellness profiles, mobility, behavioural patterns, and networking and communication styles. In fact, Accenture segments its employees in part on their overall well-being. This segmentation can enable bosses to identify people who might be at risk for defecting or burning outso they can take preventive action. Company has also offer employees a predefined list of options for custom-configuring their own work experience. At Capital One and Microsoft, for example, employees get to choose from a variety of mix-and-match work-setting options based on their individual needs and changing work tasks.

CORPORATE SOCIAL RESPONSIBILITY

The principles of corporate social responsibility are fundamental to their character and the way they run their business. With this approach they help charities and non-profit organizations reach their goals, in the same manner as they help regular clients in achieving high performance.

Accenture supports plan in various other projects around the world which are aligned from skills to succeed to Environmental Stewardship- to make a sustainable difference in long term vibrancy of people and communities. These efforts have been recognized by ICT business magazine, who have short listed Accenture in the category Corporate Social Responsibility ICT organization of 2011.

Competitive strategy of company Todays dynamic market and technology have called into question the sustainability of competitive advantage. Under pressure to improve productivity, quality and speed, mangers have interact tools such as TQM, benchmarking and reengineering

CORE STRATEGY

Mission: To provide exceptional management and legal consulting to start-ups in idea generation and growth and development phases of business. Market Scope: Financial service providers are the largest customers for management consulting. However, trade, manufacturing, technology, and telecommunications are the major industries with high entrepreneurial activity. In spite of the economic downturn, there are rapid changes in the technology and trade industry.

ETHICS
One visible aspect of Accentures Ethics & Compliance program is their Code of Business Ethics, with which all employees must comply. The code emphasizes critical areas particular to our organization and business model, and highlights aspects of conduct that are imperative for all employees. Accenture rely on people to live their Code and core values every day, in every interaction with each other, their clients and other stakeholders. To further ensure its on-going relevance to their business and people. Additionally, they help employees improve their decision-making through guidance from leadership. To support the new version of our Code of Business Ethics, in 2011 they launched a refreshed, dynamic Code of Business Ethics website, which provides access to a vast set of resources, including scenarios depicting ethical dilemmas, policy information, FAQs for each action statement, training, key terms, subject matter experts, collaboration tools and much more. The Accenture Portal brings their core values alive through the eyes of Accenture employees. Client Value Creation "Client Value Creation feels goodwhen they win, we win." Integrity a deputy program manager and communications lead for accounts Stewardship: In fiscal 2011, Accenture people completed more than 370,000 hours of Ethics & Compliance training, covering a wide range of topics, including personal responsibility, data privacy, information security, competition and ant bribery.

Porter five force analysis

PORTERS STRETAGY: Porters Five Forces shows that Accenture as a consulting firm face several obstacles to maintain any advantage in the marketplace. Buyer and supplier power is irrelevant for the type of services they are offering, but new entrants, substitutes, and rivalry are either high or moderate threats to the firm. There are very low barriers of entry in this industry, and they anticipate firms copying successes from one firm to another. They consider substitutes to be only a moderate threat at this point of their business development because not many firms can substitute a deferred payment consulting service with a paid service.

Competitive strategy and its analysis

Accenture can help OEMs on their journey to optimize prices by providing long-term business services and integrating its innovative approach with the companys pricing processes and legacy systems. They provide an end-to-end Parts Optimization solution to help clients achieve high performance in competitive spare parts pricing, increase margins across their product portfolios, and improve brand image and customer satisfaction. Accenture has a dedicated pool of pricing experts, as well as proprietary technology, processes and methodologies, to help clients with: Pricing competitively in the spare parts life cycle: Developing an industrialized methodology to determine a spare parts price based on life cycle stage, perceived

value and market intelligence to help manufacturers reap maximum profit, and deliver better price consistency and reliability to their clients. Aligning competitive prices with market expectations: Focusing on market intelligence analysis to help companies position themselves well in the market. This approach concentrates on three key areas: competitor segmentation; technical and market intelligence for each part and for every country, and market price analysis. Achieving a strong competitive pricing framework: Minimizing manufacturers time and effort to help them achieve 3 10 percent incremental gains and tackle large volumes of parts across their life cycles and many markets. Despite these hurdles, Accenture believes that many companies can unlock value and improve margins by taking a more strategic, systematic approach to competitive spare parts pricing across the entire portfolio of parts.

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