The three key elements of product positioning strategies, competitive advantage and value propositions are integral in the successful marketing of the product and as seen from the examples throughout the essay are how major cooperation’s effectively differentiate their products from the other leading offerings from other brands. Thus the conclusion is drawn that for a company to gain maximum competitive advantage and take majority share of a market the corporation marketing the product must differentiate their product from the competition in order to create value for customers and in turn create profit and customer equity. (Armstrong, Adam, Denize and Kotler,
The vast majority of companies that move in the direction to achieve sustainability also have enhanced profitability. Sustainability offers a firm new ways to protect their business from environmental, financial, and social risks, to run a company with greater efficiency and productivity, and to grow a company through the development of new products and services and the opening of new markets (Savitz, 2006). A firm can protect their business operations by conducting a thorough analysis of assessing the baseline. A company needs a clear understanding of where it is before figuring out where it needs to go. The thorough analysis of the firm’s environment will help identify risks that may be harmful to the employees, customers, and communities, as well as management failures early.
Ethics Paper MGT/498 January 20, 2014 Mix sustainable development, company social responsibility, stakeholder theory and accountability, and you have got the four pillars of company property. It’s an evolving construct that managers are adopting as another to the standard growth and profit-maximization model. Corporate sustainability is often viewed as a brand new and evolving company management paradigm. The term ‘paradigm’ is employed deliberately; in this company property is another to the standard growth and profit-maximization model. Whereas company property acknowledges that company growth and profitability are necessary, it additionally needs the corporation to pursue social group goals, specifically those about property development — environmental protection, social justice and equity, and economic development.
Therefore, its impact on communities is significant and these companies comprising the fast food industry should demonstrate Corporate Responsibility, Governance, Citizenship and Sustainability. The concept behind these ethical practices is the welfare of society; if a company helps society through their business as a main goal, then they will reap success. The focus should consider each stakeholder the company impacts: the employees, management, customers and the community. Ethics within the fast food industry have not always been a priority. It has been and continues in some sectors to be very much about mass production and maximizing profits turned.
EST1 Task 310.2.1-05: Ethical Situations in Business Western Governors University February 2, 2013 EST1 Task 310.2.1-05: Ethical Situations in Business Companies have four levels of social responsibility: 1) economic, 2) legal, 3) ethical, and 4) philanthropic. A company has to balance its duty to shareholders to make a profit with its contract with society to make socially responsible decisions. In order to increase profit, a company must understand the needs of the stakeholders and develop a coordinated plan which establishes standards within the company that can be understood and accepted by all employees; as well as supporting the needs of the community it serves. Company Q has supported the need to improve profit by closing two unprofitable stores. However, an analysis should be made regarding the need to close those stores.
Financial Performance Evaluation Introduction Financial Performance evaluation is a very important analysis used for CFO and business managers to identify which aspect of the company are working effectively and which could be improved. The financial performance evaluation is a process that requires the use of different financial ratios to determine results. The most widely financial ratios used when evaluating corporate performance are profitability, asset utilization, liquidity ratios, and capitalization. Profits ratios are the most important and the one of CFO and business manager pay more attention. Profit ratios are used to determine the overall efficiency of the firm in generating returns for its shareholders.
Globalization is the key to survival that allow to a company to be competitive and offer diverse services and convenience to consumers. Benchmarking analysis that compares competitive companies with their process and performance metrics to industry requires a comprehensive research. In a successful business, effective tactical development inevitability to manage finance is essential. Financial management is a comprehensive tool that monitors and willpower to improve a company’s success. When I was conducting the research for financial statements, there were many interesting.
Scholars such as Friedman suggest that treating the economic responsibility as the most important responsibility of a business, is called a profit-maximising view, and “the social responsibility of a business is to increase its profits.” This kind of view states that a company should be operated on a profit-orientated basis, with its sole mission being to increase profits. This approach would seem to benefit stockholders, as well as stakeholders, as the stockholder is going to benefit from the profit made by the company and will gain something back from the company, however problems can occur when the businesses and companies do not balance their ethical responsibility, as they can therefore be perceived as greed and unable to balance their corporate social responsibility, and will cause a bad name for a business. So although the stockholder may also be gaining profit by doing this (what the company sees as doing the right thing) is not necessarily the right thing to do in terms of stakeholders. However, Friedman would argue that as long as the business is maximising its profit, that is the main point and so the loss of the stakeholders is less important. This argument can be deemed as weak as Friedman’s approach does not mean that stakeholders can be benefited alongside stockholders, and so disagrees with
1. Reflect and describe which key concepts and topics in this course have made you a stronger candidate to enter the business world. A few important concepts that this course covered are gross income inclusions, gross income exclusions, deductions and losses, and itemized deductions. The ones I believe have made me a stronger citizen in general are employee expenses and deferred compensation, itemized deductions and capital gains and losses. Capital gains and losses are important to understand because it can directly affect and individual or a business adjusted gross income.
Executive Summary There are many factors to consider when it comes down to running a successful business such as organizational behavior, marketing strategy, and economics and finance. Organizational behavior is aimed at elevating employees’ performance and organizational commitment. The marketing strategy used by a business to reach out to their target market(s), remain competitive, and make a profit. Economics and finance make it possible for businesses to apply and use various metrics to doing business to remain efficient and competitive. Many people are involved in the success of a business.