* Diverse products Diverse products and revenue should help shield the business from shocks in any one part of their business. Different products have different characteristics. Those characteristics do not always match; therefore, a company can lower their risk by investing in a business with low correlations with other products. This lowers risk and increases the value of the business over the long-term. WEAKNESS: * Company size "Company Size" will have a long-term negative impact on this entity, which subtracts from the entity's value.
ESTI: Ethical Situations in Business – Task 1 * Part A After evaluating Company Q’s current attitude toward social responsibility in my opinion is that Company Q has a negative attitude. Changing the negative attitude towards social responsibility into a positive one could have a positive effect on Company Q. The company seems to be driven by profit because of the two stores being in high crime rate areas and obviously lost revenue. Management’s idea towards this type of loss seems to be to take the easy way out and close the stores that are not making any profit instead of finding solutions to help resolve the issues. When Company Q finally started offering better quality and more health conscience and organic food options after years of their customers requesting that they do so.
While Wal-Mart's methods are under scrutiny for the seeming forceful nature, but in reality they just have the power to push suppliers around and pressure small businesses to the brink. The retailer is brutally honest and straight forward about what they need and what they can get in their business ventures. Wal-Mart creates low prices by the threat of outsourcing and pitting suppliers against each other. If a supplier wants to change the terms of their agreement with Wal-Mart, they will simply be shoved aside and replaced by someone who will do what Wal-Mart wants. In order for small businesses to really gain an edge they have to diversify their products and exploit local suppliers, cash in on the advantage of a better enhanced customer experience, and with interaction within the nearby communities.
Disadvantage: * Technical evaluation after price negotiation causes an unfair price competition during auction between high quality suppliers and low quality suppliers. Suppliers with low quality may have lower cost structure comparing to high quality suppliers. Without setting the quality standard before the auction, it is likely that the auction winner may not be able to meet Casturn’s technical evaluation. * The cross-function time at step 5 have veto power. Even though this practice reduces the chance of making a bad re-sourcing decision, it wastes lots of time and energy from CMC and engineer team, and may discourage nominated supplier.
In supply chain management, strategic capacity planning controls the demand of new opportunities at minimal cost (Chase, Jacobs, and Aquilano, 2006). Strategic capacity planning is essential in establishing the permanent capacity capability a business needs to maintain or improve its market share. Poorly planned capacity needs can help the competition, costing the business customers (Chase, Jacobs, and Aquilano, 2006). Performing a break-even analysis would assist Riordan in calculating the proper capacity needs of their
Identify the main reasons for reviewing working methods, products and / or services in a business environment. In business you can either make proactive changes, therefore seeing problems before they arise such as too much waste, a more up to date product, or perhaps newer software to save time and improve your customer service. Or, reactive changes, this is when usually something "bad" happens so for example your competitors are outselling you - why? Is there product cheaper, better built, better advertising, more ethical, what to do you need to change so that you can survive a competitive market. 2.
They make their own prices, which would in most cases be more of a benefit to the producer. Both structures make it very difficult for others to enter the industry, limiting and sometimes blocking entry and competition. Industrial Regulation seeks to prevent unfair practices of restricting market entry, opening markets up for competition. Ideally, prices with regulate themselves in a fair competition, preventing one or a few companies from setting the prices that would be deemed as inappropriate. It also works to prevent the practices of unfair pricing and charging higher prices to consumers while the companies produce less product, limiting choices for consumers.
However they would have notify customers of the use of the technology in their stores, as underage people may wish to avoid the stores which could lead to a decrease in sales from the stores who use the system. The storage of customer details may also provide opportunity for the company to benefit, as it may allow them to send customer advertisements or flyers, promoting their business and special offers analysis. The convenience of the technology is vast, but the initially costs as well as maintenance may be large, and to justify the use of the technology it would have to be ensured that it is worthwhile, depending on the size and revenue of the store. Also if the technology was not reliable it could lead to further large costs for the company and would be very inconvenient to employees and possibly customers, possibly leading to a decrease in sales
Market research starts out by finding information on customer’s needs, the business competitors and the market trend. Market research can be collected through primary and secondary research. Market research plays an important role because it can reduce business making the wrong decision. Without market research
I think that using common sense you can choose what product is good and which is bad and if you should go one route or if you should go a different route. In business you have to use your head but when it comes to for example his product then you are choosing a product with harsh chemicals or a product with less harsh chemicals, better for the environment, and good for the people using it then it should be common sense however many companies because of cost will go with harsh product because it is cheaper but they aren’t using common sense. I agree that in many