Executive Summary
Working in a company was a challenge itself. Not only you have to achieve the objectives assigned to you, but you also have to take into consideration the fact that there are other people who want your input in some matters.
Furthermore, you also have to play your role effectively so that the entire team is able to deliver the results that are expected from it. In this regard, understanding your duties is necessary, which helps in the development of the company as a whole. It is only through this understanding that the team will be able to perform exceptionally well. The reason behind is simply because the members know where each of them lacks behind, and the others would therefore step up for that team members and make sure that he or she is able to perform at the same level as the rest of the team.
In this report, I have covered activities relating to my internship with STC. I have begun with an introduction showing how STC company profile, objectives, financial data, and tasks to be carried during the internship. I talk about the company in general, its profile, and history. I introduce some of its financial data and show how it is one of the soundest financial groups in the region. Then I introduce the department where I did my training and its role in the organisation.
Introduction
Background of Saudi Telecom
Since its establishment in 1998, Saudi Telecom Company (STC) has delivered a range of positive results, which generated high revenues that lead to a better service for more customers. This has been achieved through an ambitious transformation and restructuring program compounded with an extensive expansion of its infrastructure, network and coverage.
Saudi Telecom Company (STC) is on its way to maintaining its investors’ confidence by continuing a customer-focused and competitive business approach. By maintaining all of that, STC continues to be the customer’s choice over its competitors. STC’s methods are not limited to only that, for it is also a company where workers and managers are a confident team working in unification to deliver what the customers want, need and expect.
STC’s Vision
To provide timely integrated telecom solutions that provide optimum value to all stakeholders.
STC’s Mission
To enrich people’s personal lives and contribute to their business success by offering high-quality communication services that reflect their true needs.
“In achieving our mission, we will be the flagship of Saudi Arabian values and progress by acting as an economic and intellectual asset to our shareholders, customers, and employees.”
STC’s Core Business Operations
On the 15th of Sha’ban 1418 H, the Royal Decree No.135 was issued. The decree was ordered to privatise, make it a public stock, Saudi Telecom Company into the private sector, as opposed to maintaining its governmental operation. The crux of the decree was made in order to keep in tabs with global development. After the decree, STC took the responsibility of providing the best options and service to its customers.
With that, STC preserves its good image playing the big role that telecommunication services play nowadays. In order to realise its prime objectives, STC continued to carry out field surveys, which played the role of being the link between the company and its customers’, their needs, wishes and requirements. Another advantage of surveys is the ability of the company to gauge its customers’ image, perception and view of the company in their eyes according to the level of performance. That is one way of establishing weaknesses and then figuring out remedies.
The telecom sector is a competitive market, which necessitates advancement to insure survival; the framework of any large and competitive field. In order to accomplish that, STC developed its infrastructure, having provided the latest technologies and highly trained employees, enabling them to deal with such technologies effectively and efficiently. In addition, STC maintained good service provision methods and high standards. Altogether, these procedures resulted in prompt service and speedy growth.
STC’s Strategies
STC continued carrying out its policies related to its various units associated with its (2006 – 2010) strategies in order to meet its objectives. STC’s most renowned policies and measures include, but not limited to:
- Meeting customers’ needs and requirements.
- Providing a large network of coverage.
- Providing a plethora of services, concentrating on prospective and promising fields and developing its existing services.
- Being prepared, and well proficient in, upcoming competences and enhancing work on a commercial basis.
- Developing internal measures and procedures, ahead of the field or on par with it, to the least.
STC’s Major Departments:
- ALJAWAL (Mobile centre); one of the largest GSM networks in the Arab world. Launched in 1996, ALJAWAL employs only the best qualified to ensure it provides high quality ‘Basic’ and ‘Value Added’ Services based on GSM International standards.
- ALHATIF (Land Line centre); the backbone of STC’s communication. Landlines, internationally, are the easiest and most used form of communication. Therefore, STC continually improves its fixed lines with new technology, better service, and an expanded network. ALHATIF provides “real value for money” to both the private and business sectors.
- Saudi Net; is a separate Business Unit of STC. Saudi Net is an ISP (Internet Service Provider), which offers high-quality Internet services to private use and businesses. “We bring the best in Internet services to our customers. We are committed to providing the platforms through which you and your business will exploit the many opportunities emerging on the Internet. We will continue to develop the scope of our services in line with the evolving needs of your business.”
- Saudi Data; is a technologically advanced business solutions services. An advanced method of information exchange in the most efficient way possible is the driving point of Saudi Data. In today’s Information Age, Saudi Data is one of the leaders and initiators of services that carry information through integrated networks that are fast and secure. In accomplishing that, Saudi Data helps businesses grow and push the Kingdom’s economic development towards greater growth and prosperity.
ALHATIF Center is divided into customer care 907& 906 and business sales. Customer care deals with transactions on an individual customer level or basis. Business sales department, on the other hand, deals with companies, organisations and governmental sectors. STC runs those two departments under one management in a single field based on either the 80/20 or 70/30 rule*. It is no secret that the business sales department generates the most income for STC.
Saudi Telecom considers ALHATIF the backbone of its communications and the basic form of continuous contact amongst its customers. It is also the easiest and most used form of international communication, in any form it is used; friends; family; business. Based on that importance, STC is on the frontlines of improving its fixed-line services with new technology, better service, and an expanded network.
Financial data
The following is the financial data of the company that I will carry out my internship;
Objectives
The main objective of the study is to have hands-on experience. The overriding objective is hence to enable me to develop and be ready to work in the job market.
Tasks to be accomplished
The tasks complemented during the coop training program were;
- Sponsorship analysis for Gerex.
- Recheck the advantages of sponsoring Al-Faysaliyah hotel during Ramadan and write suggestions.
- Recheck the advantages of sponsoring Al-Mamlakah hotel during Ramadan and write suggestions.
- Write a report about ARAMCO exhibition “Saudi Aramco Cultural Program”.
- Sponsorship analysis for Park Hyatt Hotel.
- Sponsorship analysis for Dinner in the sky.
- Analysing entering KidZania.
- Communicate with new marketing agencies to improve our next events activities.
- Write a research about “Making an annual exhibition around KSA that contribute to the community needs”.
- Interview the CEO of the company.
- Analysing the offer from Princess Nora bintAbdulrahman University.
- STC is the major sponsor for the 6th International Conference of Dentistry in Alhabib hospital.
- Prepare the executive club for Eid Aladha.
- To be a supervisor on Al-Mamlakah team during Ramadan Preparing an internal report for the CEO interview.
- Searching for new vendors for upcoming exhibitions and events.
- Carry out SWOT analysis about TELSA sponsorship.
- Change and edit STC branding in King Abdullah camp Rawdat al-Khraim.
The industry which I have chosen is event management. The career choice may appear to be strange, given the wide range of other options that are available in the present economic environment. My reason for choosing event management is not simply based on the economic reward that is obtainable in this field. The freedom of choice accorded in the field of event management and the allowance for the provision of creativity accorded in the field is the main attraction here.
Innovation and client satisfaction is the foreword in this industry as it is the only manner in which survival is possible. The competition is stiff as there are many long-established event managers in the city who have carved a name for themselves here. While the work can be performed by one person, the quality and efficiency drastically increase with a team working on the project. As such, in order to break through and survive in the event management market, a good team of partners or subordinates is also required.
After completing the degree program, I will have a better understanding of the various intricacies of business will be better prepared to cope with them. The field of event management will allow me to combine the academic knowledge that I have gathered with my creative abilities to generate economic resources. While my creative abilities are adequate in their present, I believe that the completion of the degree will afford my creative abilities a chance to increase and grow in their potential.
The degree will also increase my communication and negotiation skills affording me the ability to operate my business better. I have chosen event management also for the fact that one can start their own operations with a small capital investment since this is a services industry. The inherent advantages of being in the service industry are also found in the field of event management; the most prominent being that the worth of a person is gauged by the capabilities possessed by the person.
However, herein lays the basic weakness of the field. Since this is related to the services industry, many people enter the field, thus, increasing the competition too often cutthroat situations. But this unrealistic competition provides an opportunity in that the event management operates as perfect competition, and there are no barriers to entry in this field. It also ensures that the market is not controlled by any person or group, thus allowing new people a chance to establish them in the field.
Since event management is related to the service industry, justifying the costs to the customers is a relatively difficult task and requires a level of interpersonal communication skill that cannot be acquired via education or any amount of professional training. The high requirement of interpersonal communication and soft skills is the basic threat to the success of any person in the profession of event management.
After the completion of my degree, within the first five years, I want to establish a market presence. By establishing myself I do not intend that I will be among the most famous managers of KSA, rather I will be an event manager who is able to earn a profit and will be able to attract clients without solicitation. I also intend to establish my presence known as an event manager who can manage events of versatile nature.
Within ten years, while I would like to quantify the amount of revenue I would be earning, it would be unrealistic given the volatility of the market. However, I would like to have a presence outside of Istanbul, preferably in at least five other major cities. I would like to be considered among the better-established event managers in Istanbul. Within ten years, I would like to have managed at least 3 to 4 international events and 5 to 6 national events. In my opinion, this would signify a suitable growth for me professionally.
However, in order to achieve the five- and ten-years goals, I require both resources and skills. I am aware of the fact that neither can be attained easily; rather, the generation of the resources required would take up a significant amount of my time. The question with regards to access, in the field of event management, comes in the forms of interpersonal contacts that allow a person to avail numerous business opportunities or at least become aware of the better business opportunities that are present.
Apart from resources and access, I would also need to gather a team that would work with me. This is a relatively difficult task and may prove to be the biggest barrier for me in this field. Finding reliable people is a difficult task, and sometimes this can only be done with luck. The understanding of the different intricacies may also prove to be a barrier in the field; however, that can be easily overcome by becoming a trainee with many of the established event management firms.
I believe that in any field professional and personal development does not stop, especially in fields that require constant creativity and innovation in order to survive. As such, my learning process will continue for the rest of my professional career.
The Co-Op Plan
While pondering on the task, the initial contemplative stir that got to mind was: why am I doing this project, which was quickly compounded by that much used analytical/inquiring phrase, what is it all about?
It would be tough to apply brakes to a mind that is in the curious process of probing, conceptualising, and concocting different approaches on issues. Things had to be placed in their proper context to maintain the critical aspect of the perspective.
More so, in a consultant’s point of view, planning or reengineering an enterprise may sometimes focus on the technical aspects. Business process solutions may be directed on having to operate on least costs and on profit maximisation.
Decision-makers sometimes commit the crucial mistake of looking solely on technical systems and neglect the creation of strategic plans that are equated on employee factors. Regard for the welfare of the most important asset – the person who makes it all happen – may just be in the form of incentives and promotions. Management may know that people do have needs as Maslow forwards it, but as motivation studies continually miss the right mix, some companies are unable to realise a sound employee program. Somewhere in the concepts must hold the right path towards a better understanding of how to equate individuals, groups, and objectives.
Professor Reiss is quite revolutionary to see that Maslow’s hierarchy of needs does not conform to the species as a whole and is on an individual basis. The strategic importance of his theory lay in the way he equated that very individualism to group dynamics. This model reconstruction from the personal view to system view opens so many windows of possibilities for decision-makers and consultants in the business sector.
All this new-found knowledge will not be lost and will be put to good use as it is a potent tool, not just for business and sports, but in many human pursuits. Equating what has been learned about the Reiss Profile and other personality tools while thinking of one’s own mental processes is really beautiful. At this point, it can be said that education did pay off, and we have a better understanding of why we exist.
We are in the process of becoming wise, and that is in cognisance of the fact that good thinking is fundamental in a technology oriented, multicultural, and multifaceted world. While reflecting on what has transpired, what necessarily follows is to apply new ideas to both serious undertakings and trivial happenings; meaningful learning is best when applied. This author believes that man is continually evolving, that an individual’s demand is contemporary with the status quo, and that they change alongside progress and development.
Summary of the schedule of activities
Upon the approval of the plan that I have submitted, I immediately began my program, which requires that I work at STC. Knowing that the second and third part will rely heavily on the experience itself, I took the liberty to scribble down notes on a daily basis and this second part of the paper is a comprehensive and organised presentation of those notes. My Coop plan for the seven months is to work in the Corporate Communication Department.
Corporate Communication Department has four main sections: Retail & Exhibition, Communication & Strategy planning, Media investment, and Customer Service. I worked in Retail & Exhibition from later in Media investment.
During my Coop period at the Retail & Exhibition section at STC, which is under the Corporate Communications department, I have been working as corporate communication analyst, which I receive a sponsorship proposal from various sectors such as hotels, exhibitions, and general events, I study the proposal and pointing the strength and weaknesses of the proposal (SWAT Analysis) then, I write my recommendation.
I have been working under the supervision of Mr Adel Alobilan, Retail& Exhibition Manager.
My main job in Retail Exhibition section is to analyse the corporate proposals. In the next paragraph, I will explain in details what I have done so far in STC.
The first week, I have been assigned by the HR department to work in Retail & Exhibition section, and my first task was to analyses the Sponsorship for Gerex. I have recommended entering as an associate sponsor. I have faced a problem at the beginning, such there were no clear criteria to analyse the sponsorship. The second task was to recheck the advantages we took from sponsoring Al-Faysaliyah hotel during Ramadan and write suggestions if I found.
Honestly, It was the best offer we have got from the hotel sector. While communicating with hotels, I have figured out that I did not know what I should ask for and not ask for in hotel sector, but by some help from my colleagues, I gain experience and knowledge. In the second week, a similar task has been assigned to me, which is recheck the advantages we took from sponsoring al-Mamlakah hotel during Ramadan and write suggestions if I found.
I asked for some benefits we have got from al-Faysaliyah within the same cost. In the same week, I have rechecked the advantages we took from sponsoring Hilton Jeddah hotel during Ramadan and write suggestions if I found. So, I asked for some benefits we have got from al-Faysaliyah and al-Mamlakah at the same cost. At the end of week 2, my task was to write a report about ARAMCO exhibition ” Saudi Aramco Cultural Program”. I have submitted the report, but there was no clear vision behind this report. At week 3, I have analysed the sponsorship proposal for the Park Hyatt hotel. I refused the proposal because of the limitation of the benefits.
I have got experience of analysing sponsorship from hotels. The second task in week 3 was Sponsorship analysis for Dinner in the sky. I recommend accepting the sponsorship but with cost deduction of 150,000 sr out of 600,000 sr. I have improved my negotiation skills. At the end of week 3, my task was to analyse entering KidZania, and it is under process. In week 4, my task was to Communicate with new marketing agencies to improve our next events activities, and it is under process. At the end of week 4, I have been assigned to write a research about “Making an annual exhibition around KSA that contribute to the community needs”, which improves my marketing research skills, knowledge and experience.
That was my detailed job description for the first month in the exhibition & retail section.
At week 5, I have prepared the monthly report (June report) for my department, and the only problem that I have faced is I could not differentiate between the department’s activities. In the same week, I follow up with al-Mamlakah and al-Faisaliah hotels event. I designed a customer complaint sheet for all hotels (al-Mamlakah, al-Faisaliah, and Hilton Jeddah). At week 6, I follow up with al-Mamlakah and al-Faisaliah hotels event, and I have designed an STC prize sheet for all hotels (al-Mamlakah, al-Faisaliah, and Hilton Jeddah). At the same week, I prepared the monthly report (July report) for my department. For the rest of the second month, I have been assigned to be a supervisor on al-Mamlakah team during Ramadan.
At week 13, I have prepared an internal report for the CEO interview, I have written about what should be in the interview and what should not. In the same week, I have worked on the CEO interview with Charisma Company. My job was to facilitate their entrance to STC territory and to update my department. In week 14, I have prepared the monthly report (September report) for my department.
In the same week, STC has the opportunity to be the major sponsor for the 6th International Conference of Dentistry in Alhabib hospital, and I have been assigned to be a supervisor on STC stand. In week 15, I have analysed the offer from Princess Nora bint Abdulrahman University. In the same week, I have searched for new vendors for upcoming exhibitions and events, and I closed the deal with the new vendor. It took me a whole week to settle the deal. At week 16, I prepared an internal report about the new vendor.
Co-Op Work description and Achievements
Problem definition in detail
Problem definition involves documenting objectives of coop plan and outlining solutions goals. Thereafter, key aspects of the program must be measured. In so doing, relevant data pertinent to the current process are collected and documented. This is followed by a timely analysis of the data to verify and investigate any cause-and-effect relationships inherent in the process. The nature of these relationships must be determined. This helps in ensuring that all factors pertinent to the process are considered
Methodology adopted for solving the problem
Having started my assignment in the first month, I immediately felt the difference that a working environment makes in my life. Firstly, I noticed that I gain a vital aspect of everyday communication. I shall strive to develop the basic as well as specialised skills during my program in the company. The rigorous work enabled me to learn the necessary practical knowledge as the comprehensive project work shall allow me to apply the theoretical knowledge for solving business problems of a global clientele.
Moreover, I shall aptly utilise my communication and interpersonal skills to coordinate between various departments of the organisation while implementing innovative and cost-effective solutions. Since I have been an active participant in extra-curricular activities, I shall continue the winning streak to represent my IT company in local, national, and international conferences. I understand that the management of a business organisation can be done effectively by harnessing the tools of information technology. Moreover, it allows the accountability and transparency of business operations in addition to enhancing the efficiency of business operations of all departments.
To help me achieve my goal, I have broken down my goals into smaller, more convenient goals. My list is as follows; in one week time, I plan to book an appointment with the CEO. In the meeting, which I plan to take place in a month’s time, I plan to share my aspirations with the CEO, to discuss if there are prospects for improvement of services of the company. In addition, I will seek information on the skills needed to achieve the job and be successful in it.
In 7months time I plan to resume school and finish my masters’ degree. This will necessitate I work up to five in the evening and then attend classes on a part-time basis. In a year, I plan to volunteer in projects under the mentorship of the current CEO. I plan to employ this strategy, to win the favour of the managing editor so that he can recommend me for any job promotion that will get me closer to the top job. Through these projects, I plan to learn from his leadership and management experiences since he has a wealth of experience in running the organisation.
Theoretical background/courses used in problem-solving
Problem-solving assists individuals in restructuring their challenges to come up with new ideas and then act on those new ideas. This process is applicable in almost all settings as it is a systematic strategy that can be grouped into three major parts namely the identification of the problem or challenge, generation of ideas, and preparation for action.
The identification of challenges dictates one come up with data and facts that pertain to the circumstances. In this step, the person or organisation with a problem should concentrate on who is concerned, what is concerned, where, when, along with why it is fundamental to them. The main aspect of the identification of the challenges is the component of finding the problem. The entity should explore the facts and information gathered to identify the challenges and problems that persist in the situation. This stage facilitates the focus on the right problem to come up with the right answers.
The second part, which entails generating ideas, necessitates the entity to brainstorm. This stage obliges the entities to think outside the box and come up with all manner of ideas they can think off. This stage is very important because it grants the opportunity to come up with possible solutions. Furthermore, it allows the entity looking for solutions to put together links, take risks, as well as experiment with a mixture of ideas to come up with innovative solutions (Treffinger, Isaksen, & Stead-Dorval, 2006).
The final part of the problem-solving calls for an entity to take action. At first, the entity should seek to reinforce and enhance the top ideas generated from step two. This should be followed by the creation of a standard to assess the ideas for their effectiveness. The standard should be applied to the top ideas to come up with those likely to solve the problem and ideas, which are easy to implement. Finally, one should accept the findings in that one should decide on what is to be done to realise a matured activated solution. This step involves goal-setting exercise, which is an important part of creative problem-solving.
Individuals and businesses can apply problem-solving in the goal-setting process. The majority of people and businesses may feel as if they are aimless in the human race. This is because they work hard, but they do not appear to attain or accomplish any goals in their life and businesses. One of the major reasons they may be feeling this is because they have not spent some quality time contemplating on what they desire from their existence, in addition, they have not initiated formal goals (Rouillard, 2003).
Persons and business must have clearly defined goals about their future. Therefore, the process of goal setting is an important aspect, which should dictate what kind of future a business or individual desires. The goal setting process helps entities choose where they want to be in future and what they want to achieve. By knowing the intended goals, people and businesses may recognise areas to put more efforts and areas to concentrate along with the obstacles they may face hence they can develop the tools to tackle them (Rouillard, 2003).
The process of setting goals entails the establishment of specific, quantitative, achievable, truthful, and time-specific objectives. The literature on the goal-setting process highlights that it is an effective tool for attaining milestones by ensuring that those involved in a group that shares goals are without a doubt aware of what is demanded of them if a goal is not attained (Rouillard, 2003).
On an individual level, the process of goal setting allows individuals to identify goals and then work toward achieving these goals. This concept on an individual level is more common in personal finances and career objectives. In view of this, the process of goal setting has featured predominately in personal development literature. Research on the goals-setting process identifies that targets offer a sense of purpose and direction, and the process of goal setting majors on the human brains’ power to transform and achieve goals.
The process of goal setting has been applied and adopted in almost all human existence spheres such as businesses, athletics, management, and at the personal level. Setting goals offers an entity a lasting vision and temporally motivation. This process focuses the entity on knowledge acquisition and at the same time helps in the organisation of time and resources to make the better of these two assets. The process of setting clearly defined goals allows an entity to take pride in the accomplishments of the goals and realise progress in what was previously obvious. Since goal setting is able to quantify the achievements made, it, in turn, raises self-confidence as one realises his competencies and abilities in attaining the goals he wants (Goldsmith & Lyons, 2006).
According to O’Neil and Drillings, (1994) goals, which are difficult to attain, tend to boost performance further than goals, which are easy to achieve. In the process of goal setting, goals can be made more unambiguous through quantification. For instance, a business may demand a twofold increase in the productivity of its employees by delineating particular tasks that need to be accomplished. The process of goal setting influences the outcome of the entity, applying it in several ways.
The first way is through effort as set goals can lead to the additional effort. For instance, if a worker undertaking programming produces five programs in a month, and has the goal of producing eight, the worker may add more efforts to than he would otherwise have added to achieve the goal. The other aspect is through choices. The process of goal setting narrows down concentration and guides efforts to the goal specific actions and away from seeming undesirable and goal-ambiguous activities.
The third way in which goal setting influences the outcome is through cognition. The process of goal setting can make a person change his behaviours towards work. This is because; behaviour change is an advance toward human motivation. The final aspect that influences the outcome is persistence. The theory of setting goals recognises that a communist becomes additionally prone to exertion through impediments if pursuing a goal. This means that an individual who is determined to achieve a certain goal will persevere with all the challenges and will learn to work with challenges (Champoux, 2011).
The creative problem-solving process is applicable to my personal life in several ways. To start with, I am able to solve my problems more easily. In the past, I used to confront my problems with anger, and I would achieve very little. Thanks to the problem-solving process, I have learned the creative and productive ways of managing my anger. The more I think about any problem I have, the more I get many ideas on how to confront it. Most of these ideas normally work so well and boosts my self-esteem.
I have listed down the goals I would like to achieve in my personal and professional life. While I was listing them, I ensured they met the criteria for SMART goals, that is, they were specific, measurable, attainable, along with these goals being realistic and timely to my situation.
One of my personal goals is to undertake a trip across the world by December 31, the year 2020. This is a long-term goal, which is not easy to achieve, hence the reason I have allocated a tangible amount of time to facilitate my preparation efforts. In view of this, I have identified milestones to guide me in my preparations. Some of these milestones include a review of how much money I have saved toward this trip every six months. In addition, I ensure I keep myself healthy through exercises and a wholesome diet to ensure I will be fit for the trip.
Details of instruments/questionnaire used
Primary data for the study in the case of individual respondents will be collected by means of a semi-structured questionnaire schedule. A questionnaire is desirable in a descriptive study because it is easy to administer. The tool has been designed to measure the respondents’ perceptions, attitudes, and values regarding the performance of the company using a five-point Likert-type scale, and how these variables combine to enhance or lessen their opinion in the context of the company performance.
Apart from the ability to attain a high response rate, it is also easy to undertake a comparative analysis when using a questionnaire because most items consist of closed-ended questions. The questionnaire used in this particular study will also subject to thorough testing to ensure that issues of data validity and reliability are appropriately dealt with. Secondary data for this study will be collected through a comprehensive review of literature, sourced from reliable sources, including textbooks and journals.
Data collection and analysis
Primary data will be gathered by means of undertaking a survey specifically designed to measure the respondents’ perceptions, values, satisfaction, and opinion towards the performance of the company. Secondary data will be collected by means of undertaking a detailed review of related literature. This study will aim at achieving the objectives of studying and acquiring the necessary experience.
This study will use different characteristics that are present in the STC company for the purpose of this survey. It is proposed to have six individual respondents chosen from the company representing two departments that will respond in the context of their individual perceptions. Company representatives from will be required to respond in the context of their activities and their performance in relation to varied parameters that will be outlined in the questionnaire. There will be 20 questions asked in the questionnaire that will focus upon extracting information pertaining to the performance of the company.
The questions were directed at determining some basic level of personal information about the participants as it is necessary to have the same for future reference. Moreover, personal information about the respondents enabled the researcher to arrive at conclusions relative to the respondents. Getting to know their personal details such as age, qualification and place of work facilitated the research in assuming the kind of perceptions they have about the status of the company.
Interviews and questionnaire methods are the important primary data collection methods, which are intended to be used in the present study. Interviews are the most elementary methods of data collection, is definitely a complicated process than just asking questions to get answers. The main potential of interviews lies precisely in the fact that it can yield deeper insights about the everyday living experiences of people, the values they follow, their opinions and ambitions, and also their attitudes and even the most subjective feelings. Beyond the technicality of its practice as a research method, interviews are required to be conducted by sufficiently considering the contextual specificities and the societal and interpersonal aspects (Denzin 2000, 645-647).
For this reason, in-depth and semi structured interviews are preferred in this study precisely to allow more flexibility in order to draw on the subjective meanings that the respondents attach to the larger transformations occurring. While in-depth interviews can allow more informal and free interaction with the respondents (Knight 2002) remaining semi-structured enables the researcher to add and change questions, and even to change the direction of interactions with the respondents, according to the newer insights that might be drawn during the course of the interview itself.
The latter changes and additions are important to the extent it keeps the researcher on a flexible trajectory than a rigid one, at the same time as anchoring himself to the basic research questions. Keeping away from a fully structured interview schedule also saves the researcher from the difficulties involved in the variations that may be required later and also exempts him from the pre-determinations that may affect the study inversely.
Data Analysis- For analysing the data, suitable statistical and mathematical methods have been used. Apart from simple statistical tools like graphs, percentages and tabular analyses, various methods like indices, correlation, and regression techniques may be used to make my analysis more scientific and precise. Using advanced econometric models and statistical tools, the impact of the economic crisis on the property industry can be analysed, and the effects on the different aspects can be identified.
The study employed both quantitative and qualitative data assessment techniques for gathering primary and secondary data. The quantitative assessment involved coding the data contained in the questionnaires and entering them into a statistical package known as SPSS. Afterwards, cleaning and analysis of the data were performed using the same package to generate frequency distributions and descriptive statistics that were used to answer the study’s main objectives.
Results and findings
The company has four business segments that offer different products and services. The mobile segment accounted for most of its 2008 total operating revenue, which is higher to that in 2008. This segment provides wireless, voice, and advanced data communication services. The second segment is Wireline, which accounted for operating revenue, which is lower compared, to that of 2007. This is the segment that provides landline voice and data services to customers, including broadband and satellite television services. The Other segment is for the international equity investments that STC makes. This segment accounted for 1% of total operating revenue. This is also the segment that absorbs interest costs and returns on pension and postretirement benefit assets.
In terms of its financial status, the company reported total revenues of 47,445 million for the year ended 2008. For the year ended 2007, the company reported 34,458 million in revenues and 12,022 million in net income. One factor that contributed to the large increase in net income is likely the amount of income tax expense, which was less than the previous year. The increase in revenue is mainly due to the strong growth of its wireless segment. With the increase, the company expects that capital expenditures will now be in the $20 million range and while free cash flow guidance is still unchanged, the company expects it to grow in 2011 compared to the previous year levels. The following table shows the profitability of the company for the last five years.
The graph above shows that sales were on upward trend net income was not stable as it showed upward trend before falling meaning that the fall was due to an increase in expenses, not sales.
The continuing weak economic conditions and strong competition are challenging for the company. However, the company is confident with its services because revenues are projected to increase this year, continuing its growth. The company is also looking at risks from fluctuating foreign currency exchange rates and interest rates. The company faces risks to its exposure to foreign currency exchange since it has foreign affiliates and has equity investments in foreign companies.
Though the company does not hedge foreign currency translation risk, it does hedge a large portion of the exchange risk. In terms of interest rate risk, the company has financial instruments in medium and long-term fixed-rate notes and debentures. Changes in the interest rate can lead to possible significant fluctuations in the fair value of the notes and debentures. Leverage and equity ratios showed a downward trend in the year 2007 and 2008, but in other years they were up. The following graph shows the trend of liquidity ratios for the company.
Profitability ratios show mixed results, although the trend is a show of upward trend at the beginning, then a downward trend which will be associated with the financial crisis. The following graph shows the trend.
Skills Required
The basic skills required to become a competent Management professional include decision-making, problem-solving, time management, analytical thinking, and organisational management. In addition to these basic skills, a Management professional would also require specialised skills.
In addition to academic qualifications, experience in multidisciplinary environments is important. The media investment is required to have demonstrated abilities to apply management skills that promote collaborative relationships and learning that is team-based so as to promote organisational goals. In addition, the Retail & Exhibition manager should embrace innovation and change; have the ability to manage resources effectively by using information technology.
Retail & Exhibition administrator should also have demonstrated abilities to stick to work ethics. In addition, he/she should be skilled in problem assessment, budgetary planning, implementation and evaluation. She/he must be skilled in management, have solid verbal and written interpersonal skills, working knowledge of current trends in communication, proper accounting skills, acuity to detail, flexibility in meeting individual employee needs and comfort of working with people from diverse backgrounds.
Conclusions and Recommendations
The main objective of the co-op program is to gain work experience and gain contacts that may be helpful when you begin searching for work. Apart from this, it will enhance quicker employment after graduation, improve my interpersonal communication/relations and have real life experience away from college.
After completing the project, there are still a number of valuable lessons, which I learned from the project. One of these lessons is the importance of time management. I had a lot of issues in managing my time, which at times was more of an inconvenience for me as well as for others I worked with. I also found it very difficult to carry out the data collection process. When I was getting questionnaires filled out, I found that a number of respondents were not interested in helping me out.
Communication was our greatest weak point. During the entire time, I found a number of instances where employees of the company were not on the same page. Working as a single unit would have been better for me in order to develop a consistent report in a short span of time. The overall project was carried out very successfully, and I achieved my project objectives in due time.
As part of my Master’s program, I was assigned the task of associating with any company and then work with them in order to understand the operations of the company and what areas does the company need to improve in order to make sure that the company is able to perform successfully in the industry. In order to understand the operations of STC, it was necessary for us to understand the leadership traits in the CEO. Understanding his leadership traits and qualities is as it would help us to understand how the company operated (Bertocci 2009).
CEO’s role in STC is very important as he is the sole person in the company which every employee looks at. His leadership has to be appreciated because he has made STC a very successful company. However, it has to be kept in mind that not all leaders are successful in the long run unless they change some of their qualities. The same is the aim of my working with him so that we can understand her position in the company and determine the areas she needs to improve. In order to have a better understanding of the relationships we had with the company, we will first be discussing CEO’s leadership qualities, followed by our relationships with him throughout the time.
CEO as a Leader
The CEO’s leadership approach is different than the traditional textbook leadership traits tell us. He has focused more on using the do is of leadership from different leadership styles and has avoided the don’ts. While this is a good approach, it must be kept in mind that with such an approach, the leader has to make sure that there are no gaps (Sashkin & Sashkin 2003). The CEO has fallen trap to this condition and has ignored to keep an eye for the gaps which have developed in her leadership style. It must be kept in mind that CEO’s leadership style is not only fit for the company, in fact, it has worked brilliantly for CEO, but it’s time that CEO looks at the gaps in her leadership style and make sure that these gaps are filled in order to take STC to the next level.
One of the great leadership qualities is the fact that the CEO is open for all ideas and suggestions. He has not made each employee realise the fact that she is the sole person they have to listen to. He has high regard for teamwork in the company due to which he listens to all ideas generated by any employee in the company.
The CEO believes that openness to ideas and suggestions is necessary as it helps in scrutinising her decisions. Through her openness, every employee is encouraged to participate in the decision-making process. Employees, in return, are motivated as they realise that they are of high value for the CEO. Another quality that the CEO has as a leader is his outspokenness. He believes that no matter how sensitive the information is, it has to be communicated.
While leaders have a certain set of qualities, which make them successful, they also have some negative traits, which may hinder their role in the long run (Yukl 2009). The same is the problem with the CEO’s leadership style. Leaders have to make sure that they are available for their team at all times (Monga 2002). Unless they are present, the employee will tend to make mistakes, which may be costly for the company. The CEO has to put in more time and effort into the company in order to learn the way business is being conducted. She has very little business experience due to which it is necessary to put in more time in the company.
The young age of the CEO has an advantage for him because she is energetic and is able to come up with new ideas for the company. However, at times the CEO is seen unable to share these ideas with the company. One example of this is the fact that she is not flexible on ideas and business methods. These are the signs of a person who has little knowledge of running a business. Such thinking needs to be changed in order to develop a very effective leadership style.
My Relationship with the CEO
The CEO was very friendly throughout the time we worked with her for the project. He understood the fact that as students, we need access to the business processes in order to come up with the required project report. He adjusted his schedule accordingly so that he can give due time to us in order to facilitate us with the project. Moreover, he was open to us in terms of his ideas, and there were no communication problems with him. On a business perspective, we had a very successful and friendly relationship with the CEO.
His openness and understanding nature allowed us access to most of the business processes at the company. Wherever we had any confusion or any problems, the CEO came forward and sorted them out for us. Due to this reason, we were able to come up with the right suggestions, which the CEO needed. The marketing plan which we presented to the CEO as a part of our project was highly appreciated by her, and she accepted all the suggestions made forward by us. One such example of this is when we came up with the suggestion to understand the customer perception about STC; the CEO not only approved us to get the customer survey but also helped in designing the survey as well.