The problem identified in this research is that after the recession of the 2008 many companies were stumbling and economizing while the Black Rock which is considered as the biggest and the largest assets management firm reworded and re drafted its financial services. Black Rock was performing consistently and steadily during the festive period. Its profits, stock rises and revenues have been continuously consistent. The Black Rock continues to outshine even in the time of crises. But the question here is that what has made the difference?
The hypothesis which is speculated is that the company Black Rose is determined and is derived by explicit and real mission. That can be hypothetically stated as the mission to make and generate an enhanced future for the clients. Commercializing innovation can be the major factor behind the success of the company. The technology policies and the platform of the company which is Asset Liability and Debt & Derivative Investment Network, has cultured and refined risk-analytics competences shared with superior functionality in assortment management, operations, trading and data control.
The hypothesis that has been speculated in this research is related to the success factors that are behind the Black Rock, it has been considered that there are four principles which are guiding the company’s success.
To be fiduciaries to its customers and patrons,
To be zealous about performance,
To be trendsetters and ,
To be “one Black-Rock.”
This study is important and needed in this article because it helps in understanding the success mechanism of the success of a company who stand out consistently in the time of the crises. This study is important because besides focusing on the Black-Rock this study has also focused on the industries of the China and India, and it help to detect and observe the common success factors of companies triumph.
Even though these corporations diverge extensively in their latitude, scale, and development but yet they establish and make evident that what are the key attributes that can change the game of any organization and enterprise.
This study is appropriate for MBA program because this provides an insight in the organizations that are game changing, led by principles, performance oriented and driven by a certain purpose. This study help to provide a guide on the talent strategies which further develops and derives the company’s business ad strategies. This study is necessary for MBA program because it helps the individuals in grasping and understanding the four areas and aspects which are critical for an organization to stay focused on its main and basic purpose. It also helps the individual to learn that how a competitive and a high performance can be developed in an organization and what principles can be established which give a wave of energy to the employees.The UAE/ GCC research funding agencies are National Research Foundation (NRF), CERT (Center of Excellence Technology Park), Tebian International Center for R&D, Dubai-UAE, International Centre for Biosaline Agriculture, Dubai Biotechnology and Research Park (DuBiotech), The Dubai Harvard Foundation for Medical Research (DHFMR), The INSEAD Innovation and Policy Initiative (IIPI).
All these UAE/ GCC companies are the national level companies and these companies can focus and utilized the strategies that have been mentioned in this case study. It will gave a margin to these above mentioned agencies to develop and research these success factors in order to have a positive impact on the UAE and GCC environment.
The methodology that has been employed in this case study has been briefly discussed below:
Operational & Strategic Distance: To create a suitable distance between a company and its competition is always important, and strategic insight is a critical and crucial factor in order to accomplish it. Discovering a suitable and balanced between constant strategic agility and steady/ responsible operational excellence is hard-hitting for numerous administrations.
Recruitment and Talent planning: Employer branding through incorporating the new breed of the talent and the students highlights two factors i-e, social responsibility and mobility of career.
Guaranteeing extraordinary performance and culture: The HCC initiates the groups and people to enhance the experience of the employees.
Developing employees: The HCC controls and chairs the healthy procedure of worker and managerial improvement and advancement.
Talent reviews and succession planning:
Black-Rock has advanced and established a far-reaching process for aptitude, reviews and elevations. Green says that the basis of our corporation model is based on the teamwork and synchronization with the client.
Networking and collaboration tools:
The HCC practices The Block, Black-Rock’s collaboration and chatting hubs and other modes of communication to nurture and promote dialogue on topics and questions such as boosting invention, schmoosing within the firm’s leader, and strengthening commitment in developmental sector.
Arranging leadership activities:
In this strategy the HCC guides and contends that the leadership of the company must promote but also protects and practice the cultural values of the company by setting an example. This can be achieved, when the leadership of the company also asses their performance on the same criteria as of their employees and by observing the same rules.Collective and Individual
The present day researchers and their research clear the position and standing of creating companies that are directed by a shared sense of persistence and purpose. People have always sought meaning in their lives, but we found that a sense of purpose is an overwhelming differentiator in attracting top talent.
Assumptions of this case study:
Black-Rock’s policies are strictly talent and innovation oriented and centered. The company’s policies are locally appropriate and globally surmounted. The company assumes that with the help of its recruitments programs, it will be able to attract the talented top individuals. Moreover, proper Black-Rock effective leadership has also been ensured under the mantra of “We Are One Black-Rock”.
The company assumes that with the help of above discussed strategies, methodologies, making use of collaborative tools and by developing a certain culture within the employees, the company will be able to gain a position of game changer and can avoid the entire crises situation and the company will work in a consistent manner in any sort of circumstances.
Limitations of the Study:
The limitation and restriction of this study is that it does not address the situation in which any of the methodology and the strategic steps could not be implemented. The study does not provide and discuss the situations like what if the company remains unable to gather, attract and recruit all the talented and cream individuals? Moreover, this study also is limited as it does not provide that what should those companies do who are unable to attract and assimilate the top talented individuals? And how can they do so? As it has been clearly stated in this case study that the secret weapon of all the game changing companies are their superior and talented individuals, only those individual are the real and primary asset of the company.
These are some of the limitations of this case study.
Potential for Future Research:
The future potential research work is that further research can be conducted to define the strategies that could effectively attract and recruit the superior talented individuals. Moreover, there is also a research gap in this study that how can a company which is not successful like the Black-Rock can attract and assimilate the top talented individuals and can include itself in the list of the game changing companies.
Moreover, this study provides a check list of the game changing talent strategy but it does not provide that how companies who are diverse and different from the Black- Rock can develop such game changing strategies? Thus future researches can be conducted on this aspect too.Summary: 总结
This study is basically centered on the topic that how can a game changing talent strategy can be build and established. For this purpose, Black Rock Company which is one of the most consistent, largest and leading management companies has been examined in this research study. Besides that this study also asses two other companies which are of china and India, respectively.
With the help of providing the strategies of the Black Rock company this case study has provided a detailed account that how other companies can also built game changing strategies. Moreover the research hypothesis of this study that has speculated that, this research is related to the success factors that are behind the Black Rock, it has been considered that there are four principles which are guiding the company’s success i-e, to be fiduciaries to its customers and patrons, to be zealous about performance, to be trendsetters and to be “one Black-Rock”.
This research has shown the most operative people strategies and policies like of the corporation of Black-Rock which base their business strategy on the game changing talent and they also tends to focus on the concerns of the company from corner to corner and add maximum value to the company.
To sum-up, it is safe to conclude that this case study has analyzed the game changing strategies in an effective and provided a detailed account of it with the help of the Black Rock company.
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