Research Topics: Business Summary

BUSINESS REQUIREMENT ANALYSIS SUMMARY

INTRODUCTION As the organization has determined that its e-business functions are not executing edge and thus the organization is losing its competitive edge. The organization business development department has done some preliminary market and competitive intelligence research and identified the following business projects that should develop and implement a new website or enhance an existing website to include catalog sale and develop and implement a new website or enhance an existing website to provide ERP capabilities. Some buyers refer immediately to the Internet before they go to a supplier. Buyers that they cannot find want they really need in your website the best way to do in order the customers will not back button on your website and just go to other website is to make your website develop and make some changes that the customers may have an access. This business requirement helps in achieving its aims and objectives in the organization. As this paper, it talks about defining the requirements at a high level for change, benefits of the changes that have been proposed, opportunity for the new services or products. This research paper discusses the views or the picture of the requirements that I have selected and its rationale.       ONLINE CATALOG SALES I choose to enhance an existing website that includes an online catalog sales making it improving by having a website strategy evaluation, it contains on the process of the sales so with the customer service, in your website how it integrates your sales and customer service processes and checking whether the site hindering the sales team in closing more sales, and in terms with profitable products or services how does the site communicate. In making it up, we have to choose the right software, since buyers are Internet savvy; in their everyday tool they use e-mail. Choose a software where in the company gives a complete suite of tools which is marketing campaign management. It may conceal sales opportunities when using the old printed catalog method. As using the internet customers left on their own, unlike in market place where in there is someone who could tell and explain more on the products or services they have but since they’re on the internet, they are the one who decide whether it is good to have. To get them attract, there should a product description on the given site, showing some pictures of goods and descriptions and that is called product card. In making a product card, it composes of product name, description, composition, price, price with VAT, sale price, color, size, pictures. Product name and price are the two characteristics that a product should have. Paying attention on the picture of the product is important. An online catalog that is available for sale, using language which is English, French, and Spanish. Use the brand personality you have, the look and feel of the website. Marketing clichés and terminology should be avoided in order not to baffle, and be intimidated and confuse. We should remember that the point in this is to target and promote efforts will be succeed. The rationale for my selection is that, I found that internet shopping site is getting succeeding and has a good feedback, becoming important to consumers.   A WEBSITE TO PROVIDE ERP CAPABILITIES Providing Enterprise Resource Planning (ERP) on the website helps the manufacturer and the company to progress. ERP capabilities does it support hypothesized model. As with this through implementing the ERP capabilities, does it permit exchange of coordination of data by having structures which are common data, procedures of functional organizational areas. ERP s are known with complex and costly legacy environments. ERP make sense when organization procedures and data structures exist, which they can be successfully adopted to match. To have a develop data standard structures for sharing and procedures for operating in coordinating activities among organizational components. ERP capabilities in terms of technology or integration capabilities they are considered to possess better with that. Also it increases functional area coverage like in project planning, maintenance. To improve the business performance through having ERP, for the manufacturers that they are in a pitched battle against competitors, ERP can level the playing field by delivering a wide range of business benefits. With that is improves procurements and sourcing for products reduced cost, to have better inventory control. In addition to that, in the management it enhance order and fulfillment for rates and customers bonding. There would be also efficient production processes, hence collaborating through enterprise, and of course the finance will be improved and accounting process for faster decision-making and to have a cash management that is better. As with this benefits this can be achieved through ERP capabilities, ERP solution really improve the business.  The rationale for this selection is that I come to realize that through using the ERP capabilities in the website it may make the organization or the site progress and help to level up, in worldwide it is mostly used software for the solutions, it is a powerful tool that would run an organization, through this the website may increase access in order to have a better quality and more information that are integrated. Conclusion               Therefore I conclude that to have a business requirements, one should implement  and develop a site that have a online catalog sales and ERP capabilities, as competitors are increasing having a well technology, buyers and consumers are important in this business. In this globalization, manufacturers should have their business agile as possible.  To make your website attractive and more convincing to the consumers, they should have an online catalog sales that shows and provide a product description, more details on it, price and pictures as well a link may include as well, there should a instruction on how to purchase and how is the processes work on it. Not just for that but as well as to make the manufacturers earn and progress, it may have a good feedback to them as well. We-based manufacturing ERP capabilities really contributes a fundamentally vital role in long term success in the organziation.    Reference: Aike, Peter. (2000).  Enterprise Resource Planning (ERP) Considerations1.            Richmond, VA. Pg. 3-4 Isakowitz, T., Bieber, M., & Vitall, F. (1998). Web information systems.           Communications of the ACM, 41 (7), 78-80. Jacko, J.A & Sears, A.A. (2003). The Human – Computer Interaction              Handbooks: Fundamental, Evolving technologies, and Emerging            Applications. Lawrence Erlbaum Associates. Mahwah, NJ. Metzl, J.F. (2002). Searching for the catalog of catalogs. Gale Group. Vol.125 Piturro, Marlene. (2002). How Midsize Companies Are Buying ERP. American            Institute of CPA’s. Gale Group. Vol.188 p. 41. Wang, F., Milena, H, Archer, N, (2002). E-Tailing: An Analysis of Web Impacts on             the Retail Market. Vol.19. p. 73.   Credit:ivythesis.typepad.com

BUSINESS REQUIREMENT ANALYSIS SUMMARY

INTRODUCTION As the organization has determined that its e-business functions are not executing edge and thus the organization is losing...

A Business Report to the CEO of the EMI Music Group

Introduction One of the oldest and universal forms of communication, touching every person of every culture in the globe is music. The recorded music industry has grown increasingly with many technological breakthroughs. But for the last few years the recorded music industry is facing problems with the technological breakthroughs of different kind. The global sales of recorded music fell by 7% in value and by 8% in units during the 2002, thanks to the mass downloading from unauthorized file sharing on the internet and the massive proliferation of CD burning also known as “Piracy” (www.mindbranch.com)             EMI is the world’s largest independent music company, operating directly in 50 countries and with licensees in the further 20 and employing over 6,600 people. The company comprises two divisions. The EMI Music, one of the global recorded music companies and the EMI Music Publishing, the world’s largest and most successful music publishers. EMI represents more than 10,000 recording artists worldwide, spanning all music genres and owns one of the finest catalogues (www.emigroup.com).             EMI strategic approach over the last five years has involved in refocusing EMI on the needs and desires of the modern consumer, aligning their interests more closely with their artists, investing in their people, skills and technological capabilities, and ultimately setting as their guiding principle of selection and development and investment in unique, long-term artists and musical content.             But with the existing music industry, there are also many competitive companies which are also going on the top. Moreover, the continuous threat of mass downloading from unauthorized file sharing on the internet and the massive proliferation of CD burning also known as “Piracy” should be considered and EMI must be alarm and should develop new marketing strategy to be able to cope with the competition and to avoid great loss.   SWOT Analysis             SWOT Analysis is a tool for auditing an organization and its environment. It is the first stage of planning and helps marketers to focus on key issues. It is a general technique which can find suitable applications across diverse management functions and activities. SWOT stands for strengths, weaknesses, opportunities, threats. Strengths and weaknesses are internal factors while opportunities and strength are external. Performing a SWOT analysis involves the generation of strengths, weaknesses, opportunities, and threats concerning a task, individual, department, or organization.             SWOT analysis can provide a framework for identifying and analyzing strengths, weaknesses, opportunities, and threat. This can also provide an impetus to analyze a situation and develop suitable strategies and tactics, a basis for assessing core capabilities and competences. Moreover, this can provide the evidence for, and cultural key to change and a stimulus to participation in a group experience.     Strengths EMI Music group has an advantage because they compose of the top selling artists, best songwriters, and extensive catalogues of recordings. Moreover, EMI has also a wide range of musical genres. Financial confidence for EMI Music as reported that the company has significantly outperformed the industry. Roger Faxon, Co-CEO EMI Publishing (2006) represent that the business has a remarkable track record, consistently outperforming the industry for the past several years. Revenues increase by a 3.9%, operating margin has improved by 12%, profit before tax increased by 12.9%, and earnings per share improved by 19.8%   Weakness      EMI music industry is poor in retailing their products. There is a problem on low sales on the retailing of the products.   Opportunity             The advent of digital music is an opportunity of the music industry because it will actually propel to higher profit. Another is internationalization, expanding through penetrating to other countries.   Threat             Competition with the parallel industry is one of the greatest threats to any business venture and EMI music group is not an exception to that, with the presence of the Universal Music Group, Sony Music Entertainment, Warner Brothers Group, and BMG Entertainment. In addition to that, with the revolution of the new technology of internet, it does bring many forms of threat to the music industry. With the MP3 which is the compression technique which allows music to be recorded into small files which are downloaded from the internet. Another form to this technology is the Napster which lets users share MP3 files over the internet, in other words, it makes music available free-of-charge over the internet. This makes the new evolution of music piracy.     Fig. 1 SWOT Analysis of EMI Music Group     Industry Analysis Porter’s 5 Forces Model             Porter’s 5 forces model is a concept that involves a relationship between competitors, suppliers, buyers and alternative solutions to the problem being addressed (http://www.brs-inc.com/porter.asp)              From the figure 1 (Porter’s Five Forces Model) below, five forces are considered. These are the threat of new entrants, threat of substitutes, the bargaining power of buyers and suppliers and the industry rivalry. The threat of new entrants is considered as rather weak because it is hard to enter an international business in any form to establish internationally and with the EMI Music Group standing in the industry it is not easy for a new comer to turn out the company.             Next, the power of buyers is assessed as strong because buyers are the life of business and in the music industry competition relatively high and music is a fad that when it is not already in sales would go down.             After that, the power of supplier is being assessed as strong because in the music industry having good talents and good facilities will facilitate a better competitive advantage.             And finally, the threat of substitutes is assessed as relatively strong as the problem of the music industry today is piracy. Piracy cost lower than the original that buyers would rather buy that pirated CD’s and with the free downloading in the internet. This had really cause trouble to the music industry as a whole.               Marketing Mix Product             EMI Music Group is one of the largest independent music companies. They produce the most popular music CD’s. Their product has no problem for these have been saleable to different types of people. Their packing will depend on the artist. The company should also provide after sale services to make the product more attractive to buyers. Promotion             Promotion is the most important aspect to make your products make sales. Promotion should be done more on television such as MTV, and to other music television and radios to promote the songs and the artist and make it known to everyone. Popularity of the artist also has a great deal to sales. Concerts also are one way of promotion. Pricing             Price has additional component of value in consumer’s mind. Prices should be appropriate to the intended target market. Volume discounts should also be given. Place of Distribution In the recent days, music industry has been transformed by the emergence of the digital technology. There are new ways to purchase, store and enjoy music. EMI should also go into exploiting the digital technology in response to the changing preferences of the consumers. EMI should make 100% of their music available throughout all legal and commercially viable digital channels, to enable people to find and consume any music in any form at any time and place. The online and mobile offer music fans unlimited choice of selection of music and it would help to extend degree of interaction to customer.             Digital technology should not be considered a threat by the EMI but instead an opportunity to go further on the distribution and increase sales.   Conclusion             EMI Music Group has always been competitive with its products and talents. There are sometimes fluctuations in their sales but they always cope up with it.             In the SWOT analysis, it shows that EMI has greater strengths than weaknesses. That would mean that the company is strong enough. And the opportunities should be exploited for any way of its expansion. And the threat should not always be considered threat but an opportunity to be better.             With the industry analysis, Porter’s 5 forces model has been used. Threats on the new entrants, substitution, the bargaining power of buyer and supplier, and competition should always be considered in every industry for it will affect the company in any way. Credit:ivythesis.typepad.com

A Business Report to the CEO of the EMI Music Group

Introduction One of the oldest and universal forms of communication, touching every person of every culture in the globe is music. The r...

International Corporate Reporting

Assessed coursework – spring term   The implementation of IFRS has brought significantly greater consistency in accounting recognition and measurement and for greater disclosure of information in financial statements. However there are several issues before reasonable consistency all aspects of financial reporting under IFRS will be achieved.     No substantial body of custom and practice, of generally accepted ways of applying IFRS has yet been developed. It will only be after number of years of full implementation, by a representative cross-section of businesses in a number of countries and industries that a consensus will emerge over the way that, in practice and in the context of real commercial transactions, IFRS is actually to be applied. Until hen, divergent practices limited comparability and consistency are inevitable.     Required   Discuss the issues raised in the above paragraph setting out the key implementation issues relating to a move to international Financial Reporting Standards.     The essay should exceed 2500 words and should be referenced using the ,HARVARD,, system. Credit:ivythesis.typepad.com

International Corporate Reporting

Assessed coursework – spring term The implementation of IFRS has brought significantly greater consistency in accounting recogniti...

Sample Essay Organizational Success is Dependent on the Efficiency of the People Involved

Executive Summary             Organizational success is dependent on the efficiency of the people involved. Often, people who are not really in the organization may have huge contributions for its development and success. The proposed business plan shall consist of the analysis for Kids and Child International. Internet is rapidly adding another tool used to interact within the social circles, most favorably in customers and in the companies. The internet is defined as the electronic network that links people and information through computers and other digital devices allowing peer to peer communication and information retrieval. The internet could be considered one of the most liberating media forces in the world today. The Internet, has an impact on consumer marketing and it affects some of the marketing tasks. It discuss two important aspects of consumer marketing that the Internet is capable of transforming; (1) the communication process, and (2) the consumer need fulfillment through new consumer processes .As the Internet was transformed in the 80s from a “research only network” to allow commercial activities, organizations realized that the sheer number of users connected to the network and the very low cost of reaching out to them, made the Internet an attractive medium for advertising.  Almost all media planners now consider the Internet as a viable advertising vehicle and almost all marketers agree. The number of people who have access to the internet has risen exponentially.             This paper also reviews the potential benefits of consultancy, possible clients, barriers and strategic management for Kids and Child International. Table of Contents   Introduction Business Plan sections Ø      Company Profile Ø      Mission, Vision, Values, Purposes, Key to success Ø      Marketing §         Competition §         SWOT Analysis §         Development, production, and location Ø      Management §         Financial plans & projections §         Risk factors Conclusion Appendices References           Introduction Despite the various challenges in which children’s products face, there is always an opportunity for e-business. It has been known today that even baby products and the Internet have a natural association. Kids and Child has the potential of this partnership and be successful in consumer e-commerce. Kids and Child forged ahead with an ambitious goal to become the world’s leading e-business children’s products company and promptly set up a new cross-functional department staffed by experienced people who have been dealing with the meticulous planning and production of baby products and newly recruited e-business professionals. Kids and Child International is committed to invest in services that enhance value to their customers while improving productivity and reducing information technology costs. With this, the company has leveraged to e-business.             Kids and Child International, known to be one of the world’s leading kid’s products producer, gives them the opportunity to acquire more customers and generate more revenues.          In addition, with Kids and Child International online selling, they give more convenience to their customer giving them the chance to attract more customers especially with people that have no time to go to shops and branches to buy such products.             The company also has an opportunity of technology advancement for easier transaction and operations and for more convenience for customers and employees. Moreover, with its recognition, the airline attracts more opportunities of expansion.             Furthermore, the company has design learning experiences for the employees to deliver consistent good services to customers. The company has encouraged a culture of self responsibility, courage to innovate and openness to collaborate within the organization.   Business Plan Sections Company Profile Kids and Child International is a company specializing in the production of children’s safety products. The company focuses on many aspects of children’s products, most recently, safety bracelets. Innovation and entrepreneurship are some of the most highly valued skills of today. While some may rely on their talents in other fields, entrepreneurship is slowly making its way as a highly valued ability. Entrepreneurship cannot be learned. One is born with the ability of being an entrepreneur. But just what exactly is an entrepreneur? In a definition taken from Wikipedia, an entrepreneur is someone who has an eye for unheard of, new, risky and possibly profitable undertakings. This person capitalizes on these endeavors and seems to be able to profit from it. In another definition, this person seemingly is able to keep a positive outlook, despite fallbacks on chosen businesses. The company, Kids and Child International, highly values these skills.   Mission, Vision, Values, Purposes, Key to success In accordance with previous reports and essays regarding Innovation and Entrepreneurship, I would once again recommend making and reviewing Vision, Mission and Goals. Vision, Mission and Goals can give one a sense of direction. One can be able to keep track of what he is doing, whether he is moving forward or not. Mission, Vision and Goals can help shape a person’s future, depending on how he perceives it. But having mission and vision statements, as well as goals are not only limited to large organizations. One can also have goals and mission and vision statements. As was mentioned, these things help define one’s personal journey into advancement. Also, by doing such, a person can be able to know what his intended undertakings are. In the context of entrepreneurship, these can help point out profitable and possible good business undertakings. The following tips are taken from the article entitled, “Mission and Vision Statements: Envision your Business, Realize your Goals” by  Foster: Convey your company values;   Inspire and motivate your organization toward objectives that are   fundamentally key to the culture that you wish to establish;   Use long-lasting ideals, not fashionable statements based on current   business or market trends; and   Keep your statements clear and easy to understand for anyone coming   on to your organization.               As for Kids and Child International, they foster innovation and entrepreneurship. Furthermore, with the safety and happiness of children in mind, they have inculcated these values into their mission and vision statements, which are:             “To present quality and safe products to children around the world”             Furthermore, the company’s goal is: “our trademark safety products recognized as a quality seal that guarantees that our chain of specialized exclusive branches only sell high quality products.”   Marketing             Strategy is very important for any organization as it offers the direction the organization would like to pursue to attain its objectives. In the recent years, the integration of strategic planning and functional marketing has been perhaps the most relevant development in the field of marketing management as marketing managers have all the more realized that tactical marketing decisions must be made within a wider strategic framework. In addition, it is necessary that management of the marketing function be built upon purposively defined and analytically based marketing strategies. Strategic marketing planning offers the analytical process which develops efficient marketing strategies. The strategic marketing planning, according to Allen (2006), involves basically three stages: (1) segmenting the market; (2) profiling the market segments; and (3) developing the market segment marketing strategy. Please refer to figure 1 for the outline.             After analyzing the market segments, customer interests and the purchase process, the firm must then establish the strategic marketing plan. This strategic marketing plan document usually constitutes (Allen 2006): (1) situational analysis – Where is the company now? – i.e., characteristics of the market, key success factors, competition and product comparisons, technology considerations, legal environment, social environment and problems and opportunities; (2) marketing objectives – Where does the management want the company to go? – i.e., product profile, target market and target volume; and (3) marketing strategies – What should the initiatives be taken in order to attain its objectives? – i.e., product strategy, promotion strategy, pricing strategy, distribution strategy and marketing strategy projection.   Competitor Analysis Understanding the competitors of a business in a given industry and developing methods as to distinguish it from them is a very relevant and critical aspect which influences the development of the competitive strategy of the firm. In addition, it is also an important aspect of the strategic planning process as it (1) facilitates the management to understand their competitive advantage or disadvantages associated to their competitors; (2) creates understanding of the competitors past, present, and future strategies; (3) offer an informed basis to develop strategies to gain and maintain competitive advantage in the future; and (4) to facilitate the firm in forecasting the returns that may be made from future investments (Tutor2u Limited 2005). Proctor (2000) notes that understanding competitors is the core to making marketing plans and strategy. A firm has to compare its products, prices, channels of distribution and promotional methods with those of its competitors on a regular basis to make sure that it is not at a disadvantage. The process of the competitor analysis basically constitutes three steps. The first step is to identify the firm’s competitors. As for Kids and Child International, the main competitors are Chico and other companies who produce baby products.             The second step of the competitor analysis is the assessment of its competitors. This may be done through benchmarking as the firms will first have to determine the objectives of its competitors as well as their objectives, then later on assessing the strengths and weaknesses of its competitors. Lloyd, Elute and Kathiawar (1997) notes that benchmarking sustains organizational growth as well as facilitates world-class competitive status.             Finally, the third step in the competitor analysis is the selection of competitors to avoid or to attack. After the assessment of the firm’s competitors, the firm will have to formulate the specific strategies that will give them the competitive advantage against its competitors.             It must be noted that during the process of competitor analysis and the implementations of its strategies, the firm will have to assess which of the competitors’ strategies that they will have to follow or not. The second stage which allows the company to compare their operations with others will necessitate some degree of change within the organization. Thus it should be very well noted that the company only as to follow the strategies that will apply to their business as every business is unique in their own nature. These strategies will have to be in lined with the company’s philosophies as well. Department stores who sell baby and children products and other distributors are the main competitors of Kids and Child International. These competitors sell a different variety of products that may well have a huge impact on the sales of our trademark baby products. However, due to the birth of the Internet, it is already feasible to set up an online store that caters solely to the company’s products, therefore lessening the possibility of competition and increasing the possibility of buyers, if we consider those people who no longer have time to go retail stores.   SWOT Analysis             To formulate an effective strategy, one must take into account the distinctive competencies of the organizations, competition, and the environment. They must determine what competitors are doing, or planning to do, and take that into account. They must critically examine other factors that could have either positive or negative effects. This is sometimes referred to as the SWOT approach. Strengths: Ø      There are enough financial resources that are allocated for the operation Ø      Innovative, quality and safe products Ø      Appealing to children of all ages Ø      Good competitive skills   Weaknesses: Ø      Not yet adept to newer and more innovative approaches to management Ø      High prices may push potential customers to competitors with affordable prices Ø      Poor uses of promotional strategy, as consumers were not properly introduced on possible benefits of a certain product   Opportunities: Ø      Opportunity to capitalize financially Ø      Develop an admirable/exceptional goodwill that can have monetary value in future Ø      Opportunity for fast market growth Ø      Growing market trend Ø      Fast growing technological advancements that may aid the growing demands for quality products   Threats: Ø      The threat of not appealing to target market at all therefore generating a loss as opposed to profit Ø      Entry of imitators Ø      Vulnerable to the business cycle Ø      Tough laws and policies being placed Ø      Possible competition   Development, production, and location             There are many possible areas as to where these products can be made and sold. One possible solution is through global expansion. Globalization has been the trend nowadays. Its main concept is that not only Americans get to enjoy eating burgers of McDonald’s, munching the famous chicken of Texas, wearing the trademark of USA sports but other cultures as well. Not only the Italians famous for their delectable pizza get to eat them but Indians, Chinese, Filipinos, and other nationalities as well. More so, MTV will not only be aired around the States, but in Europe and Asia in fact.             But delving into the technical concept of globalization, it is defined to be the umbrella term for the collective effort and change. It is caused primarily by four fundamental forms of capital movement throughout the global economy. The four fundamental capital flows are: Human capital (Immigration, Migration, Emigration, Deportation), Financial Capital (Aid, Equity, Debt, Credit, & Lending), Resource Capital (Energy, Metals, Minerals, Lumber), Power Capital (Security Forces, Alliances, Armed Forces). Outsourcing can become a great resource for an international company in the long run. Outsourcing can assure that the company would continue to have a good number of manpower but for a lesser and cheaper cost.   Product Description The main objective of this business plan is to launch a new Kids & Child product for the purpose of company expansion. Kids & Child International, the product manufacturer, aims to introduce the first safety bracelet in China. This product has a number of distinct features that represents its competitive advantages. The safety bracelet is made into different sizes (small, medium and large) and colors suitable for children ages 1 to 5 years. The main part of the safety bracelet will be made of 100% plastic.  To create a smooth and easy to wear on the babies & children’s wrists, it will be also made with elastic. A wireless micro speaker powered by two button batteries will also be placed on the outside part of the bracelet which looks like a watch. The micro speaker will work by means of using an infrared device placed on the wrist section of the product. Safety bracelet also installs an electronic radio frequency to protect the baby & child from mosquitoes.  The mechanism behind the safety bracelet is similar to that of a baby monitor (Baby Center, 2005). Kids & Child safety bracelet works like a radio transmitter which allows parents or home helper to keep a close watch on their children even without being near them. The product is made up of a transmitter (bracelet) and a receiver (infrared device); through these, sounds that babies make can easily be transmitted to the receiving device carried by the mother or home helper. In this way, parents can do something else at home without worrying about their children.   Outline of Operating Environment The manufacturing facility of Kids & Child will be established in Guangzhou Province, China. As Guangzhou Province is the country’s biggest province and has the most useful resources Kids & Child needs, this geographic location is most appropriate. Specifically, Kids & Child needs a business location were retailers are very accessible. In addition, the population in China is high compared to other countries, which in turn increases the number of potential consumers. The province is also a home for other baby product manufacturers implying the location’s efficacy. In addition, being a main province in China, Kids & Child will not have any problems on suppliers and deliveries.             In order to succeed, the company should have other key success factors. Hence, in addition to geographic location, the company also intends to employ effective strategies for superior customer satisfaction. Considering that brand loyalty is a major barrier in the baby product industry, Kids & Child should implement ways on how to obtain the interest of the target markets. In order to support this objective, the company will establish a customer service department where consumers can forward their inquiries and concerns about the product. The main distribution channel of the Kids & Child safety bracelet will be through retailers. In addition to the subsidiaries of the company, Kids & Child will also distribute its innovative product through major supermarkets. In this way, the company will be able to cover a higher level of market coverage. The level of profitability in this distribution channel is relatively high as products are directly made accessible to the consumers. In addition to retailers, the safety bracelet will also be distributed through online retailing. By developing a company website that will cater to purchases placed online, Kids & Child will be able to distribute its product at an even greater market range. This will also allow the active mothers target segment to be aware of the safety bracelet. Expected Source of Competitive Advantage As the Kids & Child safety bracelet is a new product, the customer service of the company will focus on giving instructional guidelines to the consumers. This will ensure that the customers are using the product effectively. This will also help the company in marketing the product. The customer care system of Kids & Child will employ four channels: by telephone, post mail, online chat rooms and electronic mails. By increasing the customers’ access to the company, Kids & Child can provide its services to a larger market. Certain company standards will be developed by Kids & Child as well in order to create competitive advantages. One of these standards will focus on quality management and control. A quality assurance team who will ensure the quality production of the safety bracelet will be assigned. A quality reporting system will be employed so as to track down defective products, malfunctioning machineries or personnel shortage. For the human resource, screening policies will be employed. This in turn will help in selecting the right employees for specific job positions. All of these will be done in order to ensure the high level of satisfactions among consumers. In addition, these will also help the company overcome the competition in the baby product industry.     Management The term “management” is a broad concept which can not be limited to any of the specific areas. Management is part of the everyday life. Management starts with managing oneself. It is the combination of planning, organizing, controlling, directing and coordinating.   Additionally, some other literatures defined management as ‘organizational direction based on sound common sense, pride in the organization and enthusiasm for its works’. More recently still, management is described as ‘coping with change and uncertainty.’ It is clear that management is partly the process of getting things done through people; and partly the creative and energetic combination of scarce resources into effective and profitable activities, and the combination of the skill and talents of the individuals concerned with doing this.   Financial plans & projections Business outcomes are difficult to predict by just looking at them. An entrepreneur must be cautious enough to pore into its possible growth rate. He must try to look into other entrepreneurs who entered this type of businesses and if possible, should conduct interviews in order to view the growth rate of his chosen venture. Another way in which an entrepreneur can ensure the stability of the industry his company may choose to venture in is to review past sales rate and revenues of the industry. If the industry chosen seems to have a lot of sales in the past decade, it would be a worthwhile investment. Though maybe at times industries tend to fluctuate, it may get back up on its own.  That is a good signal of a good industry to invest in. A rising entrepreneur must also come up with long term goals in order to have direction to which the company can veer its attention and energy. The following are some recommended long-term goals that a company must have: Long-term strategies must include: <ul style="margin-top: 0in; margin-bottom: 0in" type="disc"> <li class="MsoNormal" style="text-align: justify; line-height: 200%"> Implementation of new information systems</li> <li class="MsoNormal" style="text-align: justify; line-height: 200%"> Development of employees who are well rounded and well capable of multi-tasking</li> <li class="MsoNormal" style="text-align: justify; line-height: 200%"> Must have a program that would address key issues ad complaints involving the employee and the company</li> <li class="MsoNormal" style="text-align: justify; line-height: 200%"> Translate desired culture into specific employee behavior</li> <li class="MsoNormal" style="text-align: justify; line-height: 200%"> Have a back-up plan on the undertaking chosen. If in any case the chosen plan fails, there would be an alternative plan</li> <li class="MsoNormal" style="text-align: justify; line-height: 200%"> Knowing several languages (incorporation in curriculum)</li> <li class="MsoNormal" style="text-align: justify; line-height: 200%"> Improvement, development and innovation of infrastructure of all centers</li> </ul>   Risk factors             In all types of undertaking, there is a potential for events and constitute opportunities for benefit or threats to success. Every business faces risks that could present opportunities and threats to its success. Risk can be defined as the combination of the probability of an event and its consequences. Common risks include financial risks, operational risks and environmental risks.   Different types of risks are all around. Risk is both an opportunity and threat to manufacturing companies. Risk identification, assessment, mitigation, and elimination for all manufacturing and control processes should become the basis for thinking about product development and life-cycle management for every product.   When a company completely understands the manufacturing process for its product and can mitigate or eliminate altogether the risk factors for failure through materials and process controls, and show assurance of consistency and value, it will ensure greater consumer confidence and overall cost reduction for risk-related problems like rewards for damage. Moreover, this understanding must extend to all of the materials, facilities, personnel practices, and procedures that contribute to the manufacture of the product.               However, risks should not be avoided since one always has a 50/50 chance of gaining the bountiful consequences of the risks taken. For example, if Kids and Child would venture into making an online store, it may bring with it a huge risk, since it may not work and thus bring loss to the company, however, it may also bring potential growth to the company if it does work.   Conclusion The childcare industry has already extended throughout the world. Firms that operate within the childcare industry are categorized as a market structure that is highly competitive. Kids and Child International and its strategic marketing planning have been the focus of this research as Kids and child International is the market leader in the childcare industry. The strategic marketing planning provides the company a methodical and logical process that develops efficient marketing strategies. This strategic marketing planning has three stages namely: (1) segmentation of the market, (2) summarization of the market segments, and (3) development of the market segment marketing strategy. Upon close examination of the childcare industry, using Porter’s five forces model, the researcher has assessed that: (1) the competition or the rivalry in the specific industry is very strong; (2) the threat of new potential entrants is weak; (3) the bargaining power of buyers is strong; (4) the bargaining power of suppliers is weak; and lastly, (5) the threat of substitutes is strong. This paper has strongly recognized the importance of understanding competitors in strategic marketing planning for the benefits that it gives to the successful planning of marketing activities. These benefits and advantages include the following. First, understanding competitors will facilitate the firm’s management to understand their competitive advantage and disadvantages in relation to their competitors. Second, understanding competitors will also generate understanding of the past, present and future strategies of the firm. Third, it offers the firm an informed basis to develop strategies in order to gain or maintain competitive advantage against their competitors in the future. Lastly, understanding competitors will also facilitate the firm in forecasting or predicting the financial returns that they made from future investments. Credit:ivythesis.typepad.com

Sample Essay Organizational Success is Dependent on the Efficiency of the People Involved

Executive Summary Organizational success is dependent on the efficiency of the people involved. Often, people who are not rea...

The Organizational and National Statistics of Coca-Cola Company

The Organizational and National Statistics Introduction The Coca – Cola Company is the distributor, manufacturer, and marketer for the non-alcoholic syrups and the beverage concentrates to the whole world. The company licenses and owns greater than 450 brands which includes lights and diet beverages, enhanced waters, juices, and juice drinks, coffees, and sports and energy drinks (, 2008).             The table shows the quarterly revenue of the company for the year 2004. The Coca-Cola Company for Quarters for the year 2004 In Millions 1Q04 2Q04 3Q04 4Q04 North America ,426 ,702 ,699 ,517 Latin America 483 485 522 552 Europe, Eurasia and Middle East 1,303 1,824 1,820 1,609 Africa 175 181 197 274 Asia 1,086 1,444 1,382 1,140 Corporate 29 59 51 84 Total ,502 ,695 ,671 ,176                         Source: The Coca Cola Company Annual Report The data below shows the graph of its revenues:   The mean for the revenues of the data is 0 which signifies that the revenues of the company for all over the world has the average of 0 Million for the quarter 1 but the quarter 2 had the highest mean for having the revenue of 9 million. The median of 5 million for the second quarter means the amount for the half of the revenues of the company.              The predicted value for next quarter can be predicted using the regression formula of y = mx +b where m is the slope. Regression           In Quarters North America Latin America Europe, Eurasio and Middle East Africa Asia Corporate 1 ,426 483 1,303 175 1,086 29 2 ,702 485 1,824 181 1,444 59 3 ,699 522 1,820 197 1,382 51 4 ,517 552 1,609 274 1,140 84 5 53.5 1.5 ,867.5 5 ,288   This implies that 53.5 million is expected for next quarter in North America, 1.5 million in the Latin America, ,867.5 million in Middles and to other regions, 5 to Africa, and ,288 million in Asia which means that the Middle East, Eurasia and Europe still has the highest expected revenue for the next quarter.               The Coca Cola Company made the machine which can manufactures the sodas and has the mean expiration lifetime of only 5,000 hours, in line with this; it has also the recorded standard deviation of 160 hours. Nevertheless, the company is not satisfied to the performance of the said machine and decided to consider buying the new machine which can has the ability to make longer expiration life to the soda as it can last longer than the used old machinery. The company made the sample of 200 sodas produced from the new machine which has the lifetime mean of 5020 hours. The problem therefore that Coca-Cola is facing is if the new machine can produce the longer expiration life to the soda so that they can buy the new machine.             In this manner, the hypothesis testing can be use in order for the company to decide whether to accept the new machine or the sample is compatible to the true mean of being larger. 1. Determine the hypothesis Ho = μ > 5000 H1 = μ > 5000 2. This means that the lifetime experience is greater than 5000 hours and it is presumably a one tailed test or to make more specific it is the right tailed-test. In order to make more accurate we have to choose the 99% confidence interval and it requires the number of 2.33.   3. The standard error can also be calculated using the formula: Standard error = ό / √ n                            = 160 / √ 200                            = 160 / 14.14                            = 11.31   4. Calculation for the Critical Region The calculation for the critical region which has the mean from the sample has no upper limit. On the other hand, the lower limit is equal to x bar - 2.33 S.E. therefore = 5020 – 2.33 X 11.31 which yields to 4993.65. This critical region simply means that 99% certainty in the mean lifetime for the sodas can be produce by the new machine are lying in the said region. This implies that the 1% for the chance simply means will be less than the 4993.65 if the mean being established will lie on the region and it is compatible to the mean for the sodas lifetime and to the machine.   5. Comparison of the established value and the true mean to the critical region The 5000 is not smaller to the 4993.65 and the established mean is within the critical region. This implies that it is acceptable for the Ho and needs to reject the H1. The mean lifetime for the sodas therefore is higher than 5,000 which is as the 1% of the significance level and implies that the machine cannot produce the longer lasting lifetime before expiration. Thus, the advice for the company is to stick into the machine or just properly used the old machine.               The relationship of the revenues in the 1st quarter and the 4th quarter can be determined by using the formula of correlation or get the value of r The 1st and the 4th quarters have the 0.991255 value of r which means that the two variables are strongly correlated or they are related significantly.       Credit:ivythesis.typepad.com

The Organizational and National Statistics of Coca-Cola Company

The Organizational and National Statistics Introduction The Coca – Cola Company is the distributor, manufacturer, and marketer for the n...