Overall, incentives have certainly had an affect not only on the business and the locations they decide to choose. But it has in turn played a role in the redistribution of the US industrial base. Businesses will always seek out the most cost effective way to produce their product may that be by obtaining cheaper natural resources, human capital, and labor. In conclusion, there are two types of incentive tangible and intangible. Tangible incentives are Material incentives.
A portfolio analysis help a company with making decisions on what products that they must considered to be the main focused and which one they should get rid of. The portfolio analysis raises the issue of cash flow availability for use in expansion and growth for products in the organization. The BCG Matrix and the portfolio analysis would benefit a company to see where they stand with their products and where they should put more focus on to bring that particular product up in the market. Even though there are products that are doing well for the organization they can also become problems. The economy is going through some tough times now and it could be hard to keep the stars the stars and the cash cow the cash cows (Portfolio Analysis,
Goods need to be transferred from the manufacturing plant to the storage centers, and from these to the retailers, and finally, to the customer. Furthermore, transportation, warehousing, and information systems play very significant roles in the logistics function. For supply chain in particular, logistics creates the efficient flow of good between supply chain partners, and is responsible for the maximization of profits and competitive advantages. However, due to the geographical varsity of its manufacturing plants and warehouses, it posed a critical question, how to implement a good strategy enabling them to reduce costs-transportation, storage and labeling, and fixed costs. According to the case, Westminster Company has some issues that affect the transportation.
Globalization is the key to survival that allow to a company to be competitive and offer diverse services and convenience to consumers. Benchmarking analysis that compares competitive companies with their process and performance metrics to industry requires a comprehensive research. In a successful business, effective tactical development inevitability to manage finance is essential. Financial management is a comprehensive tool that monitors and willpower to improve a company’s success. When I was conducting the research for financial statements, there were many interesting.
Without prior market penetration of an organization’s competetitors, the usefulness and effectiveness of properly marketing a new product or service can be quite burdensome. This is due to the fact that an organization runs a major risk of constantly striving to maintain its customer base, as the new type of product or service has not yet been introduced into the maintstream. Additionally, pricing may be an issue based upon: Should pricing be very low to attract new buyers?, or Should pricing be set high to offset initial entry into a new marketplace? These are the questions that an organization must face, but for the most part, being a
The industry life cycle as stated in the case is at a mature stage. According to Porter, an industry in its maturity stage will see the buyers in that industry wielding more power than suppliers as capacity catches up with or even exceeds demand. Suppliers must now be weary, as volumes purchased by the industry now become important to them. A loss of a large client is potentially damaging to the survival of the supplier/company. This phase also heightens the threat of substitutes and mergers and acquisitions are common place.
The price of all goods and services depends largely on supply and demand. Individualism and competition are essential to capitalism. Individual success is valued and people are encouraged to pursue personal wealth, often through higher education or by starting a business. Competition is also stressed as a way of increasing personal success and wealth. Capitalism relies on competition for resources and a system of checks and balances.
Economic globalization has attracted much debate throughout society today. So many tactics are being tested to try and raise economies in underdeveloped countries and this is just one. Some appose to the idea while others are extremely excited about it. There have been both pros and cons seen when it is put in action but overall the pros out way the cons. I predict that we will be seeing more and more economic globalization as our nation progresses and hopefully we can bring the underdeveloped countries with
The customer satisfaction impact the organizations' business performance in many different ways and that can lead the organization in either success or failure path. Satisfaction of customer has identified as an crucial part of business strategy and an essential driver of an organizations longterm profitability and market value in the literature of marketing. The organizations' overall market opportunity, market share, marketing, sales and revenue all are dependent on satisfied customers. The customers bargaining power increased in many different ways. It is causing lot of pressure for organizations to retain their customers by lower-cost with quality products and customer service.
Consumer needs varies widely, and as such, producers have the task of continuously responding to consumers need by developing a relationship with them in other to exceed their expectation. Consumers now have the power in their hands due to the power of the dollar, to determine the survival of any industry today. On a more global scale, technology now enables marketers to offer consumers a variety of much more choices including