SRM is beneficial for the companies because it helps the company in leveraging the capabilities of suppliers to its advantage whereas it is beneficial for the supplier because it helps in providing new avenues for creating value and thus, revenues and profitability for the supplier. SRM helps in eradicating weaknesses and errors in the customer supplier relationship and helps suppliers in leveraging their strengths, ideas and assets to create new channels of relationship with the company. Such a system results in greater efficiency because it eradicates weaknesses and errors, helps in optimum utilizing of assets, strengths and capabilities and reduces costs via better collaboration and coordination. Changes in processes and systems helps in improving
Target Market(s) One of the advantages for Annie’s is that the company already has its core consumers information such as preferences and attitudes, age group, and income level which can be leveraged as a base line to grow the company into a new target market. Also the given case document clearly indicates that Foraker is in dilemma as to whether the launch of new products of different categories to target “Prime Prospects” would have any impact on Annie’s strong reputable core values that it has been carrying from its inception. With respect to the Target Market, Annie’s should
This will improve and impact the businesses activities as businesses will have more skilled and efficient workers than can maybe help with more activities and aims to help them achieve their purpose. Providing organisations to support other businesses is a way to support and increase recognition of the businesses. Most businesses having follow-on businesses or businesses they may have been in business together as they both have the same aim or support the same kind of thing. The government do a lot to support businesses for example if businesses want to start up, or a very well-known and profitable business wants to move around and open up a new store; the government will lend out a grant to pay for the store. However, the government generally hand out grants to businesses that
If you were an employee at Petrie’s Electronics, would you want to work on this project? Why or why not? I would because it seems very interesting and it will also help the company succeed even more. I would be for helping the company that I’m working for. I’m all for proving superb customer service by rewarding loyal customers it is a great idea and many other stores are doing similar methods for customer service.
Nordstrom’s Case Analysis Companies are everywhere. Competition in a global business world are in left and right scenarios. So companies must find the right ingredient for them to be successful. Creating loyal customers is at the heart of every business. Improving efficiency in connecting to customers, building customer satisfaction, customer value and loyalty leads to improved and better business results.
Describe how two businesses are organised. Marketing The marketing department promotes a business and drives sales of its products or services. It provides the necessary research to identify your target customers and other audiences. Tesco would have to advertise their products and deals they have to offer, and NSPCC advertises also, however they show the number for the business to call if you do get child abuse or if you know someone who does. Production The production department is the functional area responsible for turning inputs into finished outputs through a series of production processes.
Case Analysis #2 "Verizon Is Creating a Culture that Focuses on Shareholder Value" Kevin Keating Using the competing values framework as a point of reference, it would appear that Verizon’s current organizational culture is a clan. One reason for concluding this would be the fact is that Verizon has invested the time and the resources to educate the workforce. By having the Learning and Development Organizations support each business unit( Management: A Practical Introduction, Kinicki/Williams McGraw Hill ,”Management in Action” page 257), it is training its people to increase the number of subject matter experts within the corporation. Furthermore, by having multiple skill sets its employees should find it easier to communicate, collaborate and, therefore, find it easier to come to a consensus on any given assignment or problem. Verizon is moving toward a combination of Adhocracy and Market Cultures.
The emphasis was placed on minimizing costs therefore applying a full market coverage(Mini MBA 18- Target Market Selection). This type of strategy was adopted during the rebranding of Maybelline. They were aware of the valuable potential Maybelline had, therefore together with the R&D they managed to change the way this company was being seen by the population, achieving a complete new consumer target by changing marketing schemes. L’Oreal adopted two different strategies for its products. A Differentiation Strategy(Mini MBA 15-Generic Strategies) together with a selective specialization(Mini MBA 18- Target Market Selection) as a market strategies, explains the major interest in buying Khiel`s, a specialty store that provides high end cosmetics, therefore facilitating L’Oreal’s penetration into this market of luxury division.
Supporting Activity: Element K April Winspear BSA/310 July 23, 2012 Supporting Activity: Element K Hello, After learning that your company is growing rapidly, it is in your interest to understand and consider an information technology (IT) system. The general principle is to help improve the departments by allowing information to pass from one department to another quickly and efficiently. This can speed the process of ordering supplies, production, shipping, and billing. An IT system is another business system that compliments other business systems. It provides managerial and operational support.
The result of the business strategy will be an IBM more efficient, productive and responsive to assist businesses with their technical needs. The IBM “Smarter Planet business strategy takes into practice all the core values of the company. The mission and values of IBM is based on the innovation that matters, for the company and for the world, dedication to every client’s success, and the trust and personal responsibility in all relationships. 2. Conduct a SWOT analysis for IBM’s Smarter Planet initiative.