They make their own prices, which would in most cases be more of a benefit to the producer. Both structures make it very difficult for others to enter the industry, limiting and sometimes blocking entry and competition. Industrial Regulation seeks to prevent unfair practices of restricting market entry, opening markets up for competition. Ideally, prices with regulate themselves in a fair competition, preventing one or a few companies from setting the prices that would be deemed as inappropriate. It also works to prevent the practices of unfair pricing and charging higher prices to consumers while the companies produce less product, limiting choices for consumers.
At this point, sales are virtually diminished, pricing is considerably offset from market trends, and the ability to maintain a level of profitability becomes a major challenge. An organization can put forth efforts in the attempt to reverse, or otherwise avoid, the decline stage by a few idealogic strategies, all of which are designed to readapt and conform to newly enhanced demands by the industry and its respective consumers. Most importantly, an organization can empower itself to readapt and act in a proactive manner by analyzing market trends and determining the future scope of a certain type of product or service within a reasnable timeframe prior to the onset of saturation and declination. Perhaps it would be in the best interest of an organization to produce/ provide a product of similar fashion, yet a unique alternative, before actually retiring or discontuing a product. For production to end indefinitely of a specific good, an alternative must be researched, produced, and introduced into the marketplace at the same time to create an equilibrium of market introduction of one product and declination of another.
I recommend the company should respond to the former employee’s charge of constructive discharge by first apologizing. This former employee has had a negative impact on their life do to our company, and an apology would not hurt the situation. The government has various laws and statues pertaining to constructive discharge, management needs to avoid anything that could be misconstrued as discrimination in the work place. Alternative Dispute Resolution (ADR) refers to processes and techniques of resolving disputes that fall outside of the judicial process (Alernative Dispute Resolution Law & Legal Definintion, 2011). Legally, this could save the company bad publicity, a great amount of stress, and money that isn’t necessary to spend.
While it can be expensive for my Broadway Café to eliminate any single point of failure in my IT infrastructure, having this in play can possibly be the only way I know for sure that a hardware failure will not interrupt my service or cause data loss. Backing up my data regularly can help me to eliminate any interruptions in case of IT infrastructure failures. Then of course there is human error. While this is among some of the hardest mistakes to prevent and correct, ensuring my data is regularly backed up allows me to restore it to an error-free state. As much as we wish we were, people are not perfect and can easily overlook an important step in a process and accidentally delete data or enter the wrong data.
P3,M2: In this report I am going to be talking about the different marketing research techniques a business can use to find out information about their business. As well as this I will be discussing the limitations involved in each marketing technique. Firstly what is marketing research? Marketing research is defined as “The process of assessing the viability of a new product or service through techniques such as surveys, product testing and focus groups. Market research allows a company to discover who their target market is and what these consumers think about a product or service before it becomes available to the public.” I am going to be relating this to Tesco for their marketing techniques.
However, future threats always have the potential to arise. Competitive Rivalry – Unless the popularity of the Little Wonder completely dwarfs other products in it's class then competitive rivalry should remain small. This would change if the Little Wonder starts to greatly impact competitor's bottom lines and they find a way to begin to manufacturer new and improved mixers themselves at a lower cost. Threat from New Entrants – New entrants is unlikely because of the amount of features in Company G's product and it's price point. Competitors likely would not want to risk losing current sales by adding features which would raise their prices.
Blumberg felt the approach was too direct and halted it. Although, it is disappointing to see misalignment on sales strategies between the two organizations, this is one of the disadvantages of a joint ventures – loss of control. The sales numbers did show there is a demand for the Mark Maker in the U.S. and while, Sterling will not be renewing its contract with Blumberg, it will however be pursuing other agents - strategic alliances and/or joint ventures. Sterling will be cautious to enter into ventures and alliances only with agents that have a similar direct sales strategy. Sterling’s joint venture with Blumberg although not deemed a success, financially, it did provided insight into the entry strategies Sterling should be considering as it looks to expand to the UK as well as the countries who have enquired about selling and manufacturing Mark Maker’s.
The learning curve will present challenges in that, employees will maintain the need to refer to the old system to proceed with business as usual. Possible struggles presented by the learning-curve are expected from several employees. Some will adjust more than others, but the main challenge is in the adaptation or orientation phase. Technologically, since the system is equipped with back up software, it should eventually eliminate the need for hard copy records and files. This will save time in the long run, which should encourage most employees despite their initial frustration with the management system change.
If a company’s internal controls are not working properly customers and investors will be more doubtful and have second thoughts on their investments and money being safe which will lead to having less investor and the stocks will drop. It is very important for companies to have their internal controls up to date and making sure they are working properly because this can cause major setbacks financially. But there are some instances were internal controls cannot even stop unethical behavior from happening such as shoplifting in a shopping mall or even a bank
If the customer decides to use another supplier more than Vershire, this will affect sales for Vershire and make it difficult to recover that profit. Vershire is limiting their sales in this area. If they dealt with customers in other geographic areas, they would be able to market to other customers. Customers may also decide not to deal with Vershire if they get a better deal from a different supplier. Competition in