Business in Munich, Germany Essay
The human resource manager plays a major role in any given region. He is the determinant factor of the growth and development of every business. He should be productive, business minded to ensure the achievement of goals, and objectives set by the company. It is very important to work with a human resource that is; Physically fit, this takes the form of effort and productivity.
It is the duty of every human resource manager to show effort and devotion to his work, should be able to control the number/group of workers and he should be willing to work under minimal supervision. Competent; every human resource manager must be competent in his work. He should catch up with the demands of the arising technology and be on the look out as to what is productive in the market place (Blackford, 2008). Human resource development challenges; The growth and development of an irregular region demands a high and abrupt attention.
The abrupt attention is not because the growth and development of the population is undesirable, but it’s due to the fact that, if the economic development of a given region fails to hold up the growth of these population, most of the resources end
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If the human resources are to be effectively made use of, industrialization of developing economy should be the major factor in privilege of planning for growth. As soon as industrialization manifests, the need for skilled work force will appreciate. The accessible learning institutions will be forced to begin technical and proficient education programs. It is noted that, approximately thirty percentage of the entire population is under the poverty levels.
Poverty is well known to be associated to effectiveness of human resource and expenses on exclusion of poverty are an asset. Industrialization of the given regional economy could go beyond doing away with the poverty of the population in a region (Blackford, 2008). History of the city Henry the lion and others established this city close to a completion in Carolingian days. It was once picked out to be the dwelling place of Wittelsbach family and afterward it was made the capital of dukedom. In the year 1806, this city was chosen to be the capital of Bavaria.
Immediately after this attainment, it started being a cultural and artistic center, and thereafter it was noted as the best contributors in development of twentieth century German painting. After the First World War, this city was well thought-out as a landscape of political unrest. Years later, this city was greatly destroyed but after the Second World War, it began afresh and most modern constructions were developed. This city has become one of the most admirable in Germany and since then most business-people prefer this site for establishing their businesses.
2) Reasons why a company would prefer Munich Munich is one of the fastest developing cities in Germany, with the present first class businesses, Olympic site, churches of excellence, good frastructure and communication networks, this city has been noted to be an economic supremacy player and Germans chief money-making centre. With the development of extended agricultural segment, Bavarian capital is recently a prime supplier of vehicles, information and technology, insurance services, electronics and other dynamic twenty first century companies, Microsoft etc (Blackford, 2008).
The presence of different teaching institutions in this city produces qualified, competent and excellent professionals in every field. Incase of employees training, the management can choose one of his choice depending on the finances. The current trade fair foundation by itself attracts approximately two million guests yearly. Lederhosen and modern laptops plus many other items that might be a dream in other cities, are a daily realities in this charismatic, culturally prosperous city. Currency The currency in this city is in the form of euro, which is the major currency in this country.
The denominations are well sorted out and exist in notes and coins, with the minimum coin being fifty cent. Automated teller machines are everywhere, most business people especially hotels replace their currency with other currencies, even though rates are enhanced at banks or currency transfer agencies. Although majority of restaurants, hotels and shops fails to recognize credit cards, if need be and they accept, one must buy minimum goods. Businesspersons find no difficulty with transfer of currency for the offices are widely distributed (Wubs, 2008). Mode of transport.
The second largest airport (the mega-modern Munich international) is approximately nineteen miles northern east side of the city centre. It has continually acknowledged honor for its competence, effortlessness of transport, services and ground transport. One is always guaranteed safe arrival from one terminal to the other joined by the central Munich Airport Center. This center is loaded with outstandingly designed lobby with shops, hotels, car-letting offices, restaurants, meeting sites and business facilities, automated teller machines and many more services (Blackford, 2008)..
Transportation by bus and train is convenient for they leave each twenty minutes and make the journey to the core train station after about fifty minutes with a number of stops down the way (Hoover’s Incorporated, 2005). If one is making a visit to a hotel right from the station, cabs do whisk one to their desirable hotels or other preferred destinations. In seasons of trade shows, the shuttle bus offers their services up to fairgrounds at a reasonable cost. High-class limousines and non-public cars offer their services at an affordable price, though this requires pre-arrangement.
Another unique mode of transport in this city is the U-Bahn that is joined with the airport through a specific train to other stations and ways across this city. The tickets for one trip is always less costly. With this kind of transport services businesspersons are guaranteed safe and secure travels of their goods or themselves. Some goods that are perishable can always be arriving at their destination on time and faster depending on the means of transport. Purchasing of raw materials from the suppliers will always be made easier due to availability of transport. Advertisement means
In this city of Munich, a specific newspaper for business is available and it is among the best source airing business news. It is extensively read all over Germany and in other nations. This newspaper centers more on worldwide financial market updates. On top of this, a weekly business magazine has so far been noted as the best business magazine. As for the case of entertainment, there are several channels offering the best entertainment not leaving the news on stock market and turn over rates. A rise of different version/language in newspapers has distributed widely, with the common one being the English version.
The English newspaper is sold mostly to hotels, restaurant and at the newsstands (Hoover’s Incorporated, 2005). If a businessperson is in need of advertising his business or wants to get information from other business vendors, there is a guarantee of accurate news from different media stations. This in return sharpens the skills of individuals hence contributing to growth and performance. Residence An individual can reside in various places basing on the cost. One of the convenient places is in a medium class hotel.
The staffs in these hotels offer excellent and modified services. Slow and distinct, this happens to be the best place for a small group, successful gathering held in luxuriously selected salons packed with ordinary light and outfitted with a whole range high-tech device. During seasonal changes for example summer; one can enjoy swimming laps within top roof pool. Incase of a hunger, one can delight in palate-pleasing food from the restaurant. Another attracting factor in these hotels is the famed lobby with its glass auditorium, which is excellent for afternoon meetings.
These hotels host prominent guests like best-seller celebrities, politicians, and people from high authority (Wubs, 2008). Business people have a decision to make when choosing a conference site for they are displayed according to the number of attendants, for example, there is a ten conference rooms that holds a big number of client. For some business people who prefer being located near the means of transport, for easier transportation, there is a high-class hotel situated near the major train station. This hotel contains twenty rooms of conference that holds about eight hundred clients.
The special boardrooms, all with personal recline and kitchen, are modified for lesser power meeting. After along and tiresome day of conference there is a guarantee to be refreshed. In case of food allergy or a dislike to the common foods in this city, there is always an alternative in these hotels. For instance, there is one hotel located near the main airport which offers standard similar to roast pork or chicken knuckle that are healthier description which, forfeit nothing in provisos of quality and taste (Ellis, 2008).
Market In Munich city, the market place is well set for upcoming businesses (Hoover’s Incorporated, 2005). It is the role of the businessperson to offer quality and unique goods. Most people in this city depend on the goods from the market for survival. In the ancient days, there was one market, which was too costly to be sustained, out of this, the city high authority developed other markets that operated in specific days. This gave rise to opportunities of opening new businesses (Blackford, 2008).
The market is wider with a healthy competition from other businesspersons. It is therefore important for every new businessperson to identify his goals, objectives and vision, beware of basic marketing guidelines, identify the target group, establish competitive market strategies, have a price standard, be willing to offer quality and excellent services instead of quantity, embrace expected code of ethics and should be aware of planning and budgeting techniques. This helps the businessperson to penetrate in the market place with minimal struggles (Ellis, 2008).
For instance, a business that was started as a grocery in Munich city, offered only fruits and vegetables but as competition rates appreciated, the owner came up with a new idea of expanding the business. He began by selling pastries and making fruit juice; the pastries were serving as accompaniment to the fruit juice (Wubs, 2008). Later on, he introduced non-sugar drinks and pastries with an aim of targeting the old people and others who had specific disorders and could not take sugar.
This business has become one of the best in the market place with high-rise in profit and stock turn over. In this city of Munich, there are opportunities to start up a business especially with the introduction of stalls that were developed after the main market outgrew its innovative spot. After this scenario, the city advanced to a better epicure settlement, providing more than one hundred stalls with some symbolizing local trades and crafts.
The market is only dictated by the businesspersons and therefore every business depends on the locality and the target group (Samovar, Porter, & McDaniel, 2008). Economy With high growth development and economic rise, every businessperson is running to catch up with the economy. The economy of this city is highly favorable for businesses due to the rise of business set-ups. Business people on the other hand, should be on the look out to identify the possible measures or alternatives that can be applicable it times of economic crisis (Samovar, Porter, & McDaniel, 2008).
For sometimes back, there was a decline in the economy and this led to financial crisis, which interfered with every economic segment, spreading to other nations. Every businessperson was forced to adapt to his or her clients wants and preferences. It is therefore vital for new business people to be prepared incase of an unpredictable changes (Ellis, 2008). Gardens and parks Munich city has one of the largest playground and modern parks for visitors and dwellers. It is the best site for relaxation after along day of hard work.
As you walk or go for a run down the paths that wander past dense wood of trees reservoir of wildflower and rambling lawns, the whole day stress vacates (Hoover’s Incorporated, 2005). This garden can be a wonderful site for drinks and confectionary business. The people who visit this site come with an intention of leisure and mostly the clients are from outside cities and country. Apart from the confectionary and drinks business, one can come up with another business idea basing on your aim and target group (Ellis, 2008).
Urbanization Urbanization in the nation is rising daily, this is because of urban buildup, populated by traveler rural inhabitants in a look out for remunerative settlement. A mere reason could be lack of considerable chance and opening within rural areas and somewhat because the urban drag forces create a center of attention to them from rural areas (Wubs, 2008). The qualified young people from rural areas rarely go back to their respective premises of origin and end up holding on to urban centers in look for some job opportunities.
This kind of urbanization surplus the urban infrastructure. Although the urban centre is the most populated, this is a good business opportunity to come up with a unique business. Most people in the city prefer to have their needs catered for on the spot (Samovar, Porter, & McDaniel, 2008). A business offering goods and services automatically would do well in the city. 3) Recommendation From the above named factors, it is true to say that this city is among the best business sites, and upcoming businesspersons should not have any doubt with this city.
One is guaranteed high productivity, high class performance from the qualified graduates, excellent services incase of accommodation matters, availability of transport, modern facilities incase of technology, good networking, favorable economy etc Reference Wubs, B. (2008). International business and national war interests: Unilever between Reich and empire, 1939-45. London: Taylor & Francis. Blackford, M. (2008). The rise of modern business: Great Britain, the United States, Germany, Japan, and China, 3rd Ed. New York: UNC Press. Hoover’s Incorporated. (2005).
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