Strategic Management At Accenture To Survive Through Recession Commerce Essay

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Recession which took place in the ending part of the first decade of 2000 is often known as the Great Recession Wessel, David 2010. It was a severe economic recession which started in the United Stated of America in the year 2007 and ended at last in the mid of 2009. According to the National Bureau of Economic Research of United States the recession was resolved in the year 2009 [Mark Hulbert, 2010]. People in the world still consider it to be an ongoing recession because the economy of the world has been so damaged by this recession that the economic hardship and the daily sufferings still remains in the bits and parts of the world. According to certain definitions of economics and measured and analyzed quantitatively, the recession has ended and had been a part of history since June 2009. This has been defined as the end point of recession even by the National Bureau of Economic research [Evans and Steve, 2010]. This recession had hit on the greatest economies of the world and made them to bend down in front of it. Every country is affected, some has suffered little and some had faced huge losses in the recession. It was the global recession no country was safe from it. The recession was believed to be ended in July 2009 by a large number of economists [Daniel Gross, 2009; Keilis-Borok, 2008]. Despite of the recession being declared as officially over by most economists in the different parts of the world, The United States suffered form it till the end of the year 2009.

The financial crisis which took place in the world was the reason behind the growing trend of mortgage rates and securitization in the real estate in U.S. [Mishkin and Fredric, 2008]. Agencies from around the world marked the US mortgage-backed securities which in turn was the support for the economy of United States. The situation took a spark form the rise in oil and food prices which made the situation to be responsible for number of other disease for the world economy.

Accenture plc is a global technology consulting, management consulting, and technology outsourcing organization with the head quarters in New York [7]. The company was earlier placed in Bermuda [ROGER COHEN, 2010] and from September 2009, it moved to Ireland. It is the biggest global player in the technology outsourcing and technology consulting industry.[8] It is Global Fortune 500 company[9] with over 200,000 employees working around the globe from various locations.[8][10] It is serving over 96 clients which are in the Fortune 100 list. The clients also include more than three quarters of the list of Fortune 500 companies.

3. Rationale for the Research Topic

In this research it is decided to explore the proposed topic due to my experience in Accenture as a trainee. It is noted recession in the last few years took down the major corporate giants. Few of them were sold and few got acquired by other big fishes. The recession shook the world. Still some organizations were able to sustain and pass through the hard times of recession. Accenture was one of them and the present research aims at identifying the core competencies at Accenture to sustain recession. It also aims at gathering the data from the employees and their thought process and views about the company's strategy management is to be evaluated.

4. Literature Review

I.M.F. recommendation - The financial crisis will not end without showing a huge increase in the unemployment, said The International Monetary Fund (I.M.F.) which was actually right as more than 30 million people were unemployed globally because of the recession. IMF asked the governments to increase the social safety boundary to produce more jobs as the spending was under tight pressure to be decreased. Government should be investing into skills and train the people from the country who are actually unskilled and are unemployed.[Mascaro and Hennessey, 2010]. This will lead to the better job opportunities for them. In Greece, the major debt risk was taken care by creating more jobs by creating skilled labor in the country [11].

United States policy responses - Another agency which took steps to help United States overcome recession was the Federal Reserve, Treasury, and Securities and Exchange Commission which started an enquiry on September 19 to get the insides of the issue. The Treasury announced a $50 billion program on 19 September to prevent the potential run on financial market, and mutual funds so as to insure the investments. The step was in co-ordination to the Federal Deposit Insurance Corporation (FDIC) program.[12] The divisions in the announcement were there to help the temporary exceptions to section 23A and 23B (Regulation W),which in turn will allowing the financial homes and groups to more share and distribute funds more easily within their group [Katherine Skiba, 2010]. Market volatility within US 401(k) and retirement plans.

Because of the speculation and uncertainty present in the market, the discussion forums on various online portals and other places were overloaded with questions concerning whether or not to liquidate assets [Diya and Shefali, 2008] and the financial experts were bugged with questions about the correct procedures and steps to be taken to protect what was remaining out of their retirement accounts.

5. Research Questions

The main question that generate from this research proposal is the research title itself.

What strategies did Accenture applied to sustain recession?

What are the core competencies of Accenture?

What is the distinctive factor which persists in the Accenture work force?

What competitive edge and market strategy does Accenture follow?

Are these strategies the best one in the industry?

Can these strategies be made as the industry bench marks?

6. Research Objectives

The crucial objectives of this research are

To explore the strategies which Accenture applies to engage its employees.

To find out various techniques which encourage employees ate Accenture's work place.

To check different factors that affects the quality of operations and services at Accenture.

What value does Accenture add to its customers to help them sustain the recession too?

7. Methodology

7.1. Research Design & Design adopted

The research at this aims at the exploratory analysis rather than the explanatory one. The theory developed by Glaser and Strauss in the year 1967 forms the basis of this research which is better known as Grounded Theory. Strauss said that it is in a research method within which the theory produced by certain data set by the approach of inductive effort makes it move from a specific to a more generalized approach. (Glaser and Strauss, 1967) .Data collection, its analysis and the theory formulation are the three important parts of the grounded theory in which the approach can be applied successfully and can be used to determine the results thereof. Once the data collection part is done the researcher moves from analysis of the information by which the theory formulation is done with the support from the research situation and its experience helps him gain the control over the situation. The research proposal is a part of the longitudinal research as it will need the time for analysis of impact from the recession point of view on the common of the world and the country in general. Performance of Accenture must be analyzed and interpreted in way that its data will help support the future analysis of records.

7.2. Data Collection methods

7.2. (a) Sampling methods

The employees of Accenture were considered as the sample population. The research can be done according to the probability sampling or even by the non probability sampling. In the other method of non probability sampling the selection probability may not be possible to design and determine. The research undertaken involves the non probability sample which has to be appropriate for the accurate results and interpretation.

7.2. (b) Size of the sample

The sample population size will comprise of 30 employees which will ideally be taken from the different departments of the organization and also which performs different tasks to get the organization achieve its common and corporate goal at the end of the financial year.

7.3. (c) Sampling techniques

The method of sampling was based on the purposive sampling research and it will allow the interviews to be carried out with flexibility to the interviewee. The samples selected by the student were with a purpose of definite research and were done by the help of different criteria's and other common factors contributing it the success of the research.

8. Data Analysis

Analysis of the data is another important step in the research proposal of the project. Once the data is collected it should be analyzed and verified and also the validity of it's should be done in order to be certain and to verify its originality with respect to the project. The interpretation of the data was carried out by applying various statistical softwares and other method of the statistics including SPSS and SAS which had allowed the research to reach to its objective.

9. Resource requirements

The facilities with the library provided and also the learning support given at the organization helped and contributed majorly in the success of the project and the research. It also helped me get the details and the literature research part was easily carried out because of the facilities provided. The interviews conducted afterwards with the employees at the organization by means of telephone or by the internet usage were done depending and based on the presence of the employees and other research criteria's.

9. Time Scale Gantt chart (Week commencing 8th Oct 2010)

No.

Activity

Oct'10

Nov'10

Dec'10

0

Dates

8

10

12

14

16

19

21

24

26

28

3

5

8

10

12

15

17

20

22

24

2

5

6

8

1

Literature review

✔

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2

Objectives Decided

✔

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3

Methodology Literature Review

✔

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4

Research Proposal

✔

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5

Research Strategy and Methodology

✔

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

6

Research Strategy and Methodology Drafting

✔

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7

Access to Accenture

 

 

✔

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

8

Proposal Feedback

 

 

 

 

 

 

✔

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9

Questions for interviews

 

 

 

 

 

✔

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

10

In depth interviews

 

 

 

 

 

 

 

✔

 

 

 

 

 

 

 

 

 

11

Observation

 

 

 

 

 

 

✔

 

 

✔

 

 

 

 

 

 

 

 

 

 

 

 

12

Interviews with other employees

 

 

 

 

 

 

 

✔

 

 

 

 

 

 

 

 

 

13

Interviews with new employees

 

 

 

 

 

 

 

✔

 

 

 

 

 

 

 

 

 

14

Data Collection

 

 

 

 

 

 

 

✔

 

 

 

 

 

 

 

 

 

15

Data Analaysis

 

 

 

 

 

 

 

 

✔

 

 

 

 

 

 

 

 

 

16

Findings of report

 

 

 

 

 

 

 

 

 

 

 

 

 

✔

 

 

 

 

 

 

17

Updation of literature section

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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18

Finalising the report

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

✔

 

 

 

 

 

19

Supervisor feedback

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

✔

 

 

 

 

20

Draft review

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

✔

 

 

 

21

Report Printing

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

✔

 

22

Report Submission

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

✔

10. Research Outcome

The research led to the conclusion that Accenture has a strong workforce which believes in the organization goals along with their individual goals. The corporate strategy devised at the organization helps employees to gain the access to tools to help them pass through everyday issues. This strategy can be applied by other organizations as well so as to improve their effectiveness and efficiency, along with the employee satisfaction.

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