Marketing research will uncover for Kudler not only the products desired but [For parallel construction, "not only" must be followed by "but also" later in the sentence] the price consumers are willing to pay for each item. A product may be desired [Passive voice ] but if consumers aren’t [Write out contractions] willing to pay a price high enough to provide Kudler a profit it must be taken [Passive voice ] off the shelves. However, Kudler may find through market research that offering consumers the ability to order specialty items may increase
Also having a clear understanding of customer expectations and values is essential, as they are important to meet the demands and thus assists the organisation in achieving their personal goals. As well as customer demands and product development, observing and learning within the industry assists in determining direction and avoiding any mistakes. Simple standards that would be expected by me on the ways in which I organise my time and management of all tasks would be my position as to who I report to, what my daily today tasks are and what it reports are expected from me throughout the day. Knowledge would be an impact on me when it comes to managing time. This is because it prioritises me to set my tasks from important to less important.
There are two main profit maximization methods used, and they are Marginal Cost-Marginal Revenue Method and Total Cost-Total Revenue Method. Profit maximization is a good thing for a company, but can be a bad thing for consumers if the company starts to use cheaper products or decides to raise prices. This is what some firms in the leisure industry will aim to do, for instance, Cinemas will hope to achieve the highest level of profits. Although most firms in the leisure industry aim to maximise profit, some firms have other main objectives, such as to maximise growth. Growth maximisation is where the firm’s main goal is to increase the size of the firm as much as possible.
As the capital is put back into the economy the demand for supplies will go up. As the demand rises the amount of supplies will also rise increasing the need for employees and in turn putting more available spending capital in the hands of the buyers. By increasing government spending there is more money being put back into the pockets of the people. This return in turn frees up capital citizens are able to put back into goods and services increasing demand. Lowering taxes can also leave money in citizen’s pockets but it also takes away from the amount of money the government is able to use to stimulate the economy by spending.
A. How to improve current workflow in the plant. In order to improve the workflow in the plant, Shuzworld will have to improve the layout of their facility in order to create their product in a cost efficient and productive manner. This will enable Shuzworld to increase productivity, while ensuring the quality that consumers have grown to be accustomed to. Shuzworld will be able to accomplish this by equalizing the task times at the company’s work stations in order to ensure that employee time is maximized to its full potential.
Staff members must be able to troubleshoot equipment, keep materials in stock and deal with idiosyncrasies such as the quirks of different machines and materials. Develop Efficient Processes: The more efficient your manufacturing processes, the more products you will able to produce and the better you will able to meet customer demand. Efficiency also involves the capacity to work carefully and pay attention to details to avoid costly
Unit 201 Work in a Business Environment Outcome 2: Understand how to behave in a way that supports effective working Assessment Criteria 2.1 and 2.2 The purpose and benefits of agreeing and setting high standards for my work is for me to produce quality, high standard work that is on time, accurate and professional. It allows for me to show my interest for my work and job role I am fulfilling. It will help to show me in a good light and avoid leaving a poor impression of myself. To help set the high standards for myself I can speak to the manager to discuss what the standards are for the company and what I am required to do to implement this. I can also review pass work to gain a further understanding and feel for what standards are expected for employees of the company.
The ability to tap into the global labor market will make the company more competitive by being able to offer competitive prices on products due to lower overhead cost associated with the offset in the labor cost. Attracting employees to join the company is the better option unless there is a management position that requires exceptional talent to fill the position. Relocation of prospective employees can be costly to the company and there is no guarantee that they will be long term employees of the company. With the company's plans for expansion I would recommend overstaffing. This will allow the company to stock pile talent for future
Therefore, the organization will have to appeal to other companies by offering lower prices, higher quality product, better transportation cost, and a design to appeal to its consumers. The functional strategy the company will use allows the organization to take advantage of and maximize the use of various resources. Many companies are looking toward cheaper labor, Riordan has set its focus on acquiring a workforce with exceptional skill and a high quality work ethic. The company realizes it is more cost-effective and more efficient to hire knowledgeable employees with the drive to perform jobs at the highest level possible (Gallos, 2003). Riordan will pay higher salaries to employees with high-level skillset to attract and maintain employees with these skills.
Goals The main goal of this position is to place the organization under a microscope and define areas of improvement and productivity. This position is directly in line with the mission of the organization because implementation of processes and monitoring the progress is essential to the growth and development. Exploring potential problems in practices and procedure can be useful to the infrastructure of the organization. Impact on Productivity This position has a direct impact on productivity as it sole existence is based on analyzing the controls in the organization and defining if they are productive in accordance to the mission. The employees who occupying these positions are motivated to fulfill the goals and mission, therefore, they are productive in their