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
2. Competitive strategy Digging into CI’s case, it seems that the firm tries to use cost leadership strategy, and they do their best to control the costs. CI’s impressive improvement strategies include increasing productivity, cost cutting, overhead control, improving technology and increasing prices. Whether these strategies are appropriate, however, should be carefully evaluated. 2.1 Productivity The competitive strategy of increasing productivity is mainly concentrated on enhancement of direct labor productivity.
Goods need to be transferred from the manufacturing plant to the storage centers, and from these to the retailers, and finally, to the customer. Furthermore, transportation, warehousing, and information systems play very significant roles in the logistics function. For supply chain in particular, logistics creates the efficient flow of good between supply chain partners, and is responsible for the maximization of profits and competitive advantages. However, due to the geographical varsity of its manufacturing plants and warehouses, it posed a critical question, how to implement a good strategy enabling them to reduce costs-transportation, storage and labeling, and fixed costs. According to the case, Westminster Company has some issues that affect the transportation.
The needs of the stakeholders involved were considered to ensure BJB is meeting their expectations for quality. Analyzing an understanding the importance of the product and company needs was discussed with regard to obtaining quality parts at sustainable prices. Selecting the Feigenbaum quality theory as a reasonable guide for the quality management proposal will be useful in improving BJB’s product achievement. Lastly, understanding the roles that leadership plays in the implementation of each variable is crucial to the product and the company’s
By fully managing the organization and their effectiveness and efficiency Kundlers can obtain the overall business intelligences goal of the mission. The marketing strategy should look at and use a competitive intelligence to accomplish these goals. The strategies of understating and knowing productive organization can give the upper hand with knowing the competitors market. Also by viewing the competitor’s sites, stores, and marketing strategies Kundlers can achieve the mission they set for their own business to excel past the competition. Analysis within a business should serve as a vital function.
Tracking indicators allows an organization to identify the potential for risk and provides more time to act upon the risk. Leveraging existing resources will save the company money. In addition, these resources know the organization, are closer to the data, and understand the vision and direction the company wants to take. Adopting the structure the COSO provides would be useful for an organization. The structure provides the basic framework and guidance for a successful ERM.
• A differentiator must control its cost structure to ensure the price of its products does not exceed the price customers are willing to pay for them • When differentiation stems from the design or physical features of the product, differentiators are at great risk of being imitated ▫ Example? • When differentiation stems from superior service or reliability, or from any intangible source a company is much more secure. ▫ Example?
Summarise what steps you will have to take to market your business. Marketing is the management process which identifies customer needs, anticipates their future needs and then goes about satisfying them profitably. Also marketing is really about getting the right product to the right people at the right price at the right time. This is important to my business because it is essential for me to get my marketing right. As a business having a right product means having something which will sell also having a competitive price for a product meaning not an overpriced
* Is the John Lewis formula for success suitable for other companies and if so explain why, if not explain why? The Report needs to include the following * What Supply chain challenges does John Lewis face when dealing with demand fluctuations and comment on how the supply chain investments support its overall customer service and resources utilisation objectives? * What prerequisites are important for the operation of the of the lean systems that are in
Pro forma financial information is generally used to illustrate the effects of transactions such as business combination, and change in capitalization. There are countless reasons on why companies use pro forma statement in their business, the most significant is the planning and control received when using pro forma. The process of using pro forma statements are less time consuming, they help businesses evaluate and make a better distinction between business plans (Scarborough, Wilson, & Zimmerer, 2009, p. 196). Pro forma statements are an excellent outlet for resources that will help a business forecast expected earnings should the company chose to merge with another company or even if the company wanted to sell off part of it operations (Scarborough, Wilson, & Zimmerer, 2009, p. 196). The pro forma statements are commonly used when applying for a business loan.