Sam, a marketing manager, often makes ethical decisions based on what others feel about those decisions. He often considers opinions from other managers and employees. Which of the following ethical systems do Sam’s decisions follow? • Consequentialism • Utilitarianism • Relativism • Egoism Find the final exam answers here New UOP Course BUS 475 Capstone Final Exam Part 1 6. The depreciation of currency will: • improve a country’s comparative advantage.
The “Five Forces” are external forces that a corporation needs to consider for its business strategy to compete with other in the real world. The “Five Forces” that shape the competition according to Mr. Porter are: 1) Threat of New Entrants, 2) Bargaining Power of Suppliers, 3) Bargaining Power of Buyers, 4) Threat of Substitute Products or Services, and 5) Rivalry Among Existing Competitors. In 2004, Robert Kaplan and David Norton published “Strategy Maps: Converting Intangible Assets into Tangible Outcomes”. Their strategy map provides a systematic way to analyze if the intangible assets are aligned with the critical internal processes. Intangible assets according to Kaplan et al.
This strategy emphasizes the company’s ability to utilize its existing internal resources and focuses on streamlining operation through proper sizing and cost reduction. Even though this way could create short-term benefits to shareholder, this approach could negatively impact the company’s ability to adjust to external changes, especially rapid market and competitors’ changes. * Outside-in strategy: which is external market oriented strategy. Company makes the business decision according to the customer needs and market trends. It is “outside –in” thinking, which could help company to catch up with the market trend and develop products and services that meet the needs of customers.
For these reasons, it is necessary to analyze the competitive advantage of the different options presented. • Strengths and Opportunities: The project evaluation should consider a SWOT analysis of each potential application, which allows identifying the strengths, opportunities, threats and weaknesses. This way, it is possible to choose the best option, which maximized the firm’s strengths and opportunities, while mitigating its threats and weaknesses. • Barrier to Entry: Also it is necessary to analyze the cost of enter to the industry. • Economic Benefit: What will be the earnings associated to the project.. • Customer Preferences Bernstein should recommend to the board the
Opportunity: An opportunity is a favorable condition in the organizations environment which enables it to strengthen its position. Threat: A threat is an unfavorable condition in the organizations environment which causes a risk for, or damage to, the organizations position (Tim, B. 2011). Its central purpose is to identify the strategies that will create a firms specific business model that will best align, fit, or match a company's resources and capabilities to the demands of the environment in which it operates. Strategic managers compare and contrast the various alternative
SWOT Analysis Complete the following SWOT analysis for your company: Strengths * Describe your company’s internal resources and capabilities that can be used to establish a competitive advantage and reach your objectives Weaknesses * List the factors that may interfere with the company’s ability to achieve its objectives Opportunities * In looking at the external environmental, identify opportunities of buyer need or potential interest which may indicate opportunities for growth and profit Threats * Look at changes in the external environment that may pose a challenge or lead to lower sales or profits Corporate Social Responsibility What steps will your company take to make sure it is acting responsibly towards the community, employees, customers and the planet? Marketing Overview – Part 3 Marketing mix (the 4 P’s) decisions identify the product/service offerings, pricing strategy, distribution (place) strategy and promotional activities that will achieve the business goals. Create a marketing mix that will achieve your business goals and create a competitive advantage. Target
Chapter 01 What Is Organizational Behavior? True / False Questions 1. Strategic management focuses on the product choices and industry characteristics that affect an organization's profitability. True False 2. The theories and concepts found in OB are drawn from two disciplines: human resources management and strategic management.
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
The order of competitive forces from strongest to weakest in Porter’s five forces model are as follows: Potential Entrants – Substitutes- Industry Rivalry- Buyers- and Suppliers. I believe that potential new entrants help liquidate the pay day market which might drive demand down in individual stores (the entries to barrier are extremely low 135k for startup), followed by substitutes such as credit cards offered by Providence (which were marketed towards unbanked costumers), current industry rivalry also proved to be a competition force that affected individual pay day locations (similar reason to new entrants). 3. What are the driving forces that are currently affecting the payday lending industry? The driving forces that are currently affecting the payday lending industry are entry or exit of major firms, regulatory influences and government policy changes, marketing innovation, and lastly changing societal concerns and attitudes.
Porter’s Five Forces of Competition Framework According to Grant (2005), there are many features of an industry in which a company competes that determines the level of competition it will face and the profits it will get. The most famous classification was done by Michael Porter, known as Porters Five Forces framework which can help a company determine its potential profits by looking at five sources of competitive pressure. The five sources of competition are 1) competition from entrants 2) competition from substitutes 3) competition from established rivals 4) bargaining power of suppliers and 5) bargaining power of buyers. Threat of entry/Barriers to entry The threat of entry is highest in the apparel market due to the relatively lower costs of manufacturing apparel compared to the footwear market where the biggest threat posed is basically from current rivals already established in the market e.g Adidas and Puma, who although behind in market share, are currently implementing strategies that are helping them close the gap on Nike. Adidas has especially been gaining ground on Nike boosted by its strong presence in sponsoring the European soccer tournament where it sponsored eventual winners Spain (Torry 2012).