⦁ E-Drive They have experience in the market. The quality is in the average of the market and. The company also offers an improved production systems and the lead-time is very flexible. The proximity with PSC is a plus. Additionally, the company has a strong reputation in product development.
Task 2 – (This question provides evidence for grading criteria P2 & M1) Evaluate the benefits and importance of customer loyalty. Identify and apply the importance of relationship marketing. Ans: - Customer loyalty can be defined as the strength of the relationship between an individual's relative attitude and repeat patronage with a supplier. It is a self-reinforcing system in which the company delivers superior value consistently to find and keep high-quality customers, (and, where applicable, employees). The economic benefits of high customer loyalty are measurable.
This is accomplished through more effective products, processes, services, technologies, or ideas that are readily available to markets, governments and society. Roberts (1988), defines innovation as the successful implementations and exploitation of a new idea or invention . Innovation is the main idea in shaping corporate life and helping companies to adopt various strategic options. It helps to reduce total cost of production, increase income avenues, and maintain efficient operating systems. Innovative businesses also benefit the economy: delivering added value; high quality jobs; successful business; better products and services for customers; and new, more environmentally friendly, processes.
The details of that evaluation: STRENGTHS Dedication from management, employees, and suppliers 1. Company G’s dedication from management, employees, and suppliers to delivery high quality products and great customer service would be a core competency. A high credit rating coupled with a low debt:equity ratio 2. Company G is financially sound due to a low debt:equity ratio and high credit rating. Reduced costs thanks to efficient production 3.
Ensuring that their compensation is competitive with the market and valuing the employee’s opinions are just two ways to accomplish this. However it is done, a happy workforce is a productive workforce. Reference Robbins, S. P., & Judge, T. A. (2011). Organizational behavior (14th ed.).
LEARNING QUESTIONS WEEK 1 DeVry University 1. It very important for HR to be a strategic business partner that way everyone has the company’s goals and missions at heart and there is no misunderstanding as to what is expected. With the appropriate partners, a company will grow successfully over time. It is hard to have a business relationship if there is no understanding of what is truly needed or if a department is left out of the loop. The HR department is one of the most valuable departments in a company.
The board of directors must by law be composed of volunteers, which can be an advantage to the company. These are also internal factors that have helped the organization be successful that it will want to leverage and grow. Asset leverage; Loyal customers; Market share leadership; Diversified products. They are all the strengths of the ALL. Asset leverage allows ALL to use their best operational assets to expand their business and improve their market share.
Our value-added: financial advice. Our competitive advantage: our people. The company’s mission is to satisfy all of their customers' financial needs, help them succeed financially, be the premier provider of financial services in every one of their markets, and be known as one of America's great companies (Wells Fargo, 2009, para. 6). Wells Fargo mission and vision statement is understandable.
2.Identify an existing organization that established sustained market leadership by successfully leveraging a value discipline. How did the organization successfully leverage this discipline? (Please clearly identify the value discipline and the organization) The value discipline provides the best possible value to its consumers. A company that effectively leveraged this discipline is ALDI Corporation. This is an organization that used cost-saving methods in a
Resources and Capabilities Tangible Intangible • Reputation and success at technological innovation • Patents • Accumulated experience in X• Capabilities • Technology product development• These cumulative resources and capabilities offer a myriad of opportunities for leveraging their advantages from the value they’ve created by entering the CT scan market. Strategically appropriating this value can maximize profit in this burgeoning business with the possibility of diversification into other businesses. The market power of existing players, demand, and scarcity of the resources will impact the success of each effort