The company’s central value proposition is the benefit of increased productivity. Therefore, it should focus on how the product achieves this through the improved design of the scope, reduction of sedation which could lead to increased number of procedures performed and reduced costs per procedure, and reduced procedure time from 45 minutes to an hour long to only 30 minutes even for “difficult cases”. After those three topics are covered, the projected expenses, anticipated revenue, condensed market plan of action, and terms of the IP protection should be explained. I believe that the company should change their investor pitch to quickly and easily inform how the product is greater than what’s currently available in the market. As stated in the case, the value propositions are concrete but the evidence to support it are ambiguous.
Discuss the benefits to QRL of using marketing techniques such as the PLC and Boston Matrix to help make a decision about its product portfolio. (16 marks) The Boston Matrix and the product life cycle are tools to help a business assess its range of products. The business can assess whether it has a balanced portfolio and whether it has sufficient profit makers and revenue generators both now and in the future. Star products such as the ….... are already profitable and the high potential for growth will mean it will become more significant in the future. They are the cash cows of the future.
Superior Metals Corporation (SMC) Business Memorandum The objective of Decision Model One of the most significant part of a company is its Net Income. Developing a decision model to see and analyze how product cost and sales impact the company’s profit can benefit company to maximize its profit and achieve long term sustainable business development. Going over this assignment, I better understand the relationship between product costs and company’s net income, as well as develop my excel spreadsheet skills and improve my ability to analyze numbers from the model. Analysis of SMC’s decision model Cost of goods manufactured indicates product costs for a period of time. This amount is transferred to finished goods inventory and is used to calculate cost of good sold.
Therefore, in order to stay competitive, Satre has decided to focus on Harrah’s core competency, which is customer loyalty. In this connection, he has worked towards hiring a competent team, which in turn has developed a data-driven marketing strategy. While at the time, Harrah’s seems to be reaping the benefit of these efforts with a 100% growth in stock price and profits; Satre is concerned with determining how much these marketing efforts had actually contributed to increased profitability, and whether these improved results were actually sustainable or simply a one-off occurrence. SWOT Analysis Strengths | Weaknesses | - Investment in Information Technology | - Inability to compete on 'innovation' with the newer casinos (eg. Mirage and MGM) | - Excellent customer service (as recognized by Casino Player Magazine) | - It is an over 50-year-old company, making across-the-board facility upgrades difficult & expensive | - 50% growth in revenue (higher than industry average) | | - 100% growth in stock price and profits | | - Patented integration of IT network across Harrah's properties | | - Data-driven
Assessment of quality is affected by one’s position in the value chain. Answer: T AACSB: Reflective Thinking Skills 8. Improved quality of design leads to lower costs and improved quality of conformance leads to higher prices. Answer: F AACSB: Analytic Skills 9. In general, employee empowerment has been viewed as an effective practice for customer-driven organizations that embrace total quality.
This will show us how much customers like our product and if our performance and size fit their preferences. Another estimate that we could have is by multiplying the growth rate by the current unit demand of a segment and then multiply this answer by our current market share. This will give us an estimate according to the increase demand of the population who are interested in this market. Finally, our last strategy was the market share report in the Capstone courier, which we considered our best strategy since it is the most detailed and accurate one. This strategy is more accurate because it shows us in cases where a product stocked out, how much it would have sold since this affects all of the competitors sales for next year.
(Bowersox, 2013) In this case the major business propositions for Woodmere and HomeHelp to consider in evaluating this proposal is the fact that they both can improve the needs of their customers through an improvement of technology using a time-based logistic system, which will help with the replenishment of inventory based on customers demand. Through this advancement they will be better able to service customers and have a better hold on their inventories. The future perspective of annual growth is also available with HomeHelp from an existing 10% to at least 20%. The installation of information transmission system, from POS data to manufacturing plant will lead to cost but will benefit both companies in the long run. One of the major change or addition
Balanced Scorecard Perspectives 1. Internal Business Process Strategic Objectives | Performance Measures | Improve manufacturing quality | Percentage of defective product units | On-time delivery by suppliers | Percentage of on-time deliveries by suppliers | Minimize invoice error rate | Percentage of error-free invoices | Introduce new products | Product cost per unit | Increase proprietary products | Number of patents | 2. Customer Strategic Objectives | Performance Measures | Acquire new customers | Number of new customers | Retain customers | Percentage of customers retained | Develop profitable customers | Customer profitability | | | | | | | 3. Learning and Growth Strategic Objectives | Performance Measures | Increase information system capabilities | Percentage of processes with real-time feedback | Enhance employee skills | Average job-related training hours per employee | | | | | | | 4. Financial Strategic Objectives | Performance Measures | Increase in shareholder value | Earnings per share | Increase profit generated by each salesperson | Profit per sales person | | | | | | | a.
An area they differed in perspective, however, was the value proposition in serving their customers. Hyde Park focused on operational excellence and viewed customer service in terms of product quality and time to market. Their view was that increased sales and repeat customers were a direct indicator of customer satisfaction. In addition, because Hyde Park bills based on production time, the company realized they must improve manufacturing efficiency to ensure they are giving the customer the best product at a price they expect. Furthermore, the company used warranty failures and customer returns as metrics to improve its operational performance.
1. Foreman’s course works to improve the attitudes of the employees working for a given company. Studies have shown that worker attitudes are directly related to the success of a company. Thus the program has the potential to improve worker moral and wellbeing which in turn will help to improve the profitability of Albertsons. As said in the textbook job satisfaction has a direct affect on customer satisfaction and the profitability of a company so if Foreman’s course can do what is pledges then it could have a positive effect on Albertsons profitability.