Customers also place a high importance on the quality of product so because Penn offers a high quality product it is able to attract and retain customers. The low rivalry of competitors is a great strength for Penn National Gaming. It offers Penn the opportunity to grow in different markets and expand its business across the United States. Also because of the low number of competitors it makes it easier for Penn to keep a close eye on the competition’s products and pricing which will allow Penn to strategically alter its own products and pricing strategies. The threat of substitutions is high especially for the gaming industries which Penn National Gaming operates in.
Their popularity has also gained the group access to resources in surrounding towns and communities. Since they steal to obtain the capital and training costs they need, the cost of producing their product is a strength. In summing up the strengths, we have to mention the skillset of the
Sales volume had been built up largely on the basis of successful price competition made through control of operating expenses and quantity purchase of materials at substantial discounts. Most of the moldings and door products, which constitutes significant items of sales, were used for repair works. Quantity discounts and credit terms of net 30 days on open account were usually offered to customers. Clarkson Lumber sales growth are expected to continue over the foreseeable future and future sales are protected to some degree from fluctuations in new housing construction industry because of the fact that high proportion of the company market is directed to repair business. Mr. Clarkson was an energetic and hard working man, has personal control over every feature of his business and he possesses sound judgment about his business issues.
Also many of people prefer to buy a new items or manufactured refurbished, especially while there can be only a few dollars of savings. (3)Peter Pine's idea is very risky although he is very committed with what he does. He wants to work for himself. Even though grooving moss is cheap and not complicated, he needs to invest a lot of money in a nurseries. The market is very limited but there is no competition.
Supplier Bargaining Power: High – By having a great deal of raw material available gives the suppliers a big advantage over their competitors. The majority of businesses in the industry have numerous suppliers to choose from so they can make sure that what they are getting is the best material for a cost effective price. Potential New Entrants: Medium - The possibility of having new clients that will enter the market is pretty low due to the fact that the big businesses are already in existence in the market. It isn’t likely that a loyal customer of the big company will switch to new the company. They will need to create a completely new product that has a better design and quality as well as a better price.
Many of these processes used within the business community as benchmarks to follow. The public perception of Reg Jones was also very high, as he had been recognized with “CEO of the Year” honors multiple times, as well as “CEO of the decade.” Welch had to be up to the task of replacing a man that many in the industry considered a legend. Another major challenge Welch faced that can’t be overlooked is the external environment when he took over as CEO. At the same time he was charged with the task of replacing his successful predecessor, Welch also had to deal with a U.S. economic recession. Additionally, there was an increasing amount of rivalry from global competition that compounded the problems being faced by the sluggish economy.
This epic hero as many called him, had to be as strong as a rock and be able to perform tasks that no ordinary man who do. His courage had to be so great that he had to be able to sacrifice his life for the people. However, numerous men made the attempt to obtain this title and only one sucessed; Beowulf. This man is characterized by its great strength, a quality that many men dream of and that unfortunately most lack of. “I drove five great giants into chains, chased all of that race from earth.¨ Indeed, he is the vivid image of a fearless and strong willed man who is able to fight until death for its people.
“Big men” were created because of that wealth and private ownership. They win control of the flow of surplus food and other goods and so amass a group of followers. They will do anything to acquire more resources like obtaining multiple wives to give away : one wife for a garden , one to collect wood etc. There are many theories if big men became chiefs because of their power but know one really knows for
With reduced costs, company can allocate resources to other activities, such as research and development, so they can have constant improvements and growth. 2. Operational: Franchising is about evenness of procedures, which reflect on consistency, strengthened productivity and better quality. Franchisee operators are usually highly motivated for success, as they invest quite a lot of money and time in the business they are running. Therefor they work hard to show best possible results.
Organizational development consists of long range efforts and programs designed to improve an organization’s ability to survive by altering its’ problem-solving and renewal processes. “Employee involvement and commitment are the true keys to successful change “(Brown). The movie, Ocean’s Eleven, consists of a group of men aiming for the same goal who come together to organize their mission so smoothly step by step. Their mission was to rob three casinos. Not only did they map it out and plan it out accordingly, but full cooperation was executed the entire way.