It analyses the entity’s competitive situation by assessing its strengths, weaknesses, environmental opportunities and threats. Strengths HIH had the support of the public and its personnel and this could be an asset to management because they would have space for maximising potential of the company. HIH also creatively use re-insurance to free up funds otherwise stuck prudential margins and allow more funds for expanding investments. Weaknesses HIH’s main weakness is its lack of corporate governance, especially the lack of process and risk management within the company. A lack of process meant that there were no limits to authority and rules were not followed.
Another important factor within the firm s culture is the responsibility lines concept, which leads to informal lines of authority, translating to a deep commitment to quality and customer service. However, this lack of formal lines of authority coupled with the strong emphasis on personal relationships between the employees leads to situations such as the one Frye describes in the case. The situation is one in which one sales person can get technical and customer service assistance for his or her customers from the headquarters in Holderness quicker than a salesperson
If Shouldice were to expand, they should choose a method that does not involve spending too much money, starting a new location, or starting a new specialty. 4. The atmosphere of Shouldice generates a solid clientele. 5. Although there could be potential internal problems, Shouldice conducts their business appropriately.
ATTENTION TO FORM Business letters, proposals, memos, and many other types of business writing require particular formats. Adhering to standard form eliminates confusion and helps the reader quickly identify the purpose of the document. Attention to details of form is more important in business writing than most other kinds of writing. In many ways writing in a business setting is less demanding than other kinds of writing. There is little pressure to be creative or particularly
Strengths Phaethon Chariot has very experienced and creative leaders with more than 20 years of experience in the automotive industry as a technician. He will be able to use this skill to his advantage when restoring cars. Their business model is well developed and researched with a good three year business plan. He has a very good grasp of the field. They have taken the time to research not only their area but the surrounding area for both competition and sales possibilities Phaethon Chariots has discovered a need for competent restoration businesses in their area and have the skills to provide this service.
This includes acquiring and training brand new staff, locating unused facilities, installing phone and computer terminals, and building required links to the company’s computer system. The customer service function is not considered by employees to be a critical job function so companies routinely hire sub-par employees which lead to problems with constantly recruiting new employees and train them. A company can avoid this issue by giving the task to a supplier. The optimal suppliers have good recruiting skills to select right kinds of people, pay and benefit levels calculated to retain their existing staffs, and ongoing training programs designed to maintain the quality of their staffs. An important reason for using a customer service supplier is that the company is dealing directly with the customer through this function and must present the best possible face to the customer.
These include: * Employees are used to a certain way of doing things and do not embrace change * Employees feel time-pressured to learn a new software tool * No incentive for using the social networking initiative. Employees do not find it necessary for their jobs. * No significant impact on the internal collaboration. In order to overcome issues that affect the implementation of enterprise social networking organizations must ensure that these initiatives provide value to the business. Content must be of such a nature that it is relevant, accurate, easily accessible, and connects the people that need to be connected that would otherwise be impossible.
Different does not mean useless. 2. Any unit functions better as a whole, with all pieces present. Both of these principles can be applied to diversity in the business setting. Different Does Not Mean Useless While living in a normally right-handed world as a left-handed person for a day proved to be difficult, it was not impossible.
The Brand valuation of firms. It is relatively easier in a production firm (e.g. consumer goods) where the brand value can associated to the number of loyal customer who buys the products. But it is difficult in the case of a service firm (advertising agency). Therefore objective and scientific valuation is not possible.
The quality of the goods are acceptable to consumers and there are few frills. These companies constantly look for ways to reduce cost while keeping good quality and not cutting down on essential features. This strategy places more emphasis on the features of their products than