...clients. Hiring experienced, top-level marketing personnel in-house can be an insurmountable challenge for many small businesses, and taking advantage of professional services can allow your campaigns to achieve the same level of quality as the major players in your industry. Selecting a reputable advertising agency ensures that your advertising campaigns will be developed and administered by the cream of the crop in the advertising industry. Ad agencies hire the best of the best, and their specialists' skills are honed further by focusing solely on developing and maintaining advertising campaigns for a wide range of clients. Hiring experienced, top-level marketing personnel in-house can be an insurmountable challenge for many small businesses, and taking advantage of professional services can allow your campaigns to achieve the same level of quality as the major players in your industry. Selecting a reputable advertising agency ensures that your advertising campaigns will be developed and administered by the cream of the crop in the advertising industry. Ad agencies hire the best of the best, and their specialists' skills are honed further by focusing solely on developing and maintaining advertising campaigns for a wide range of clients. Hiring experienced, top-level marketing personnel in-house can be an insurmountable challenge for many small businesses, and taking advantage of professional services can allow your campaigns to achieve the same level of quality as the...
Words: 2689 - Pages: 11
...7/20/2014 Advantages and Challenges of Exporting - submitted by Tekle S. - International Business and Trade, Education and Training, Business Development … Hom e About Se rvice s C lie nts Login R e giste r The Knowle dge Brok e rs C ontact Se arch [ STAR T ] Ex pe rtAle rts™ Pop Top Vide os Type s Ex pe rtise C ountrie s Article s FAQ Back to Articles Overview Advantages and Challenges of Exporting Recom m end 41 people recommend this. Contributed by: Tekle S. (ID 584) Any company, before committing its resources to venture in the export business, must carefully assess the advantages and disadvantages of exporting into a new market. Whether it is unintentional or a deliberate move companies need to evaluate and carefully assess the advantages and challenges of exporting before committing resources. Visit Tekle S.'s Expert Profile In C ategory: Trade C opyright © Tekle S. (ID 584) , a prequalified Trainer from Brentwood, United States Article Stats Added: 16/01/07 787 Words 14119 x Read Any company, before committing its resources to venture in the export business, must carefully assess the advantages and disadvantages of exporting into a new market. While some companies enter the export business unintentionally after receiving order to purchase from foreign buyer that found their product. Others make a deliberate move and conduct thorough research before entering new market. Whether it is unintentional or deliberate...
Words: 1429 - Pages: 6
...Abstract Almost all of us have heard in some way of either ISO 9000 or 14000 certification which clarify the quality controls and environmental friendliness, but how many of us have heard about ISO 27001 which talk about security standards. On this term paper we are going to first identify what is IOS 27001 from different point of view, second we will explain the challenges in implementing ISO 27001 by evaluating the framework of ISO, discussing the benefit and advantages of ISO 27001 and why it's used in UAE. After that we will clarify the challenges of ISO 27001 after interviewing two companies and get rich information from their experience in this filed then compare the challenges in and out UAE based on (3-4) articles. What is ISO/IEC 27001 1- ISO/IEC 27001 is a Controls-based policy o A comprehensive set of controls comprising best practices in information security and It's an Information standard that encompasses all types of information. o “Whatever form the information may take, or means by which it is shared or stored, it should always be appropriately protected” (ISO17799:2000) (FIRSTSOURCE,Undated) 2- ISO/IEC 27001:2005 : o Provides strategic and tactical direction o Recognizes that Information Security is a Management issue o Non-technical (BUREAU VERITAS) 3- ISO 27001(earlier BS 7799) is an International standard which provides a model (PDCA Model) for setting up and managing an effective ISMS. o ISMS is that part of the overall management system...
Words: 2150 - Pages: 9
...COMPETITIVE ADVANTAGE A competitive advantage is an advantage gained over competitors by offering customers greater value, either through lower prices or by providing additional benefits and service that justify similar, or possibly higher, prices. For growers and producers involved in niche marketing, finding and nurturing a competitive advantage can mean increased profit and a venture that is sustainable and successful over the long term By accomplishing these objectives they will help have product selling control this because many consumers will be attracted to buy our products due to the advantage we have over the others therefore enabling support my success in management. Competitive advantage examines the economics of firms business focusing primarily its ability to generate excess returns on capital and links the business strategy with fundamental finance and capital markets, for a longer period of time Competitive advantage in a marketplace is a distinguishing factor that drives companies profits through attracting customers, contributing to fair prices and also generates loyalty to a company hence supporting the success to management. It also takes planning and a coordination in all managerial departments. A competitive advantage helps gain the benefits of economies of scale hence one don’t have to invest much in developing short term advantages to get customers in the company. The risks or the challenges that a manager may face in competition include...
Words: 318 - Pages: 2
...development of Zambia. It aims to shed light on some of the challenges faced by most Zambian entrepreneurs as well as explain how entrepreneurs can develop for themselves a competitive advantage. It will further go on to identify and explain some entrepreneurial characteristics of our local entrepreneurs, while finally shedding light on how business opportunities are created. Role of Small Businesses in Zambia’s Economy According to the June 2010 Zambian Business Survey, it was noted that 80 % of the private sector in Zambia are small businesses with less than 50 employees. “These firms constitute the bulk of private sector employment in Zambia, employing 73% of the total labor force”. (Conway and Shah, JUNE 2010). Small businesses such as car washes, Beauty parlors, restaurants and small scale farmers open way for new employment opportunities and serve as building blocks of Zambia’s largest establishments. Not only do these small businesses offer employment opportunities, they also in turn assist in addressing some of Zambia’s key economic challenges such as Poverty reduction as well as increasing Government revenue collection. Additionally, small businesses in the agricultural sector add enormously to the nation’s food security. Challenges Faced By Zambian Entrepreneurs Granting small businesses are playing a major role in the economic development of our country, however Entrepreneurs are still facing some challenges and restrictions such as inadequate access to capital...
Words: 992 - Pages: 4
...Introduction Business strategy it should be the foundation of any business weather it was small or huge business, this report will define business strategy, discuss formatting business strategy, and develop competitive advantage over competitors, how to apply strategy using resources and challenges faced by the organization, importance of business strategy, Referencing Qurum Business Group Company LLC, it’s an international company rooted in Oman, they provide services like : Facilities Management, Financial, Engineering, Contracting & Landscaping. Business strategy in simple words is a long term business plan that designed and set to achieve and reach certain goals or objectives, business strategy like a map guide the stakeholder where to go and which way to take! In order to set a business strategy goal, market and customers should be defined. So business strategy is long term plan that guide the action to reach a goal or more. Business strategy is top and core management responsibility to set. haveing strong and a good business strategy won’t mean that the business won’t face unexpected circumstances and it’s not a condition to avoid loss as other conditions can decide the satisfaction of any business, but good business strategy minimize the risks. Business strategy should be revised and amended every period of time as it’s usually 3 to 5 years to facilitate the changes in either the internal capabilities of the company or the external environment. There are many...
Words: 1432 - Pages: 6
...with EMMEs is exactly why they have what it takes to take over the world, per say. Whether they are moving reactively, or proactively, EMMEs have the advantage over many developed markets due to the opportunities that are presenting themselves in recent times, such as having a new market to target, having access to a cheap and skilled workforce, and possible partnerships in the new country. But with these opportunities, come great risks and challenges, such as competition, psychic distance, and initiating sustainable strategies; challenges that must be dealt with through thorough strategy and planning, so as to achieve the potential these Enterprises possess. EMMEs are enterprises from Emerging economies, that engage in foreign direct investment (FDI) and owns, or in some ways controls, value adding assets in more than one country (Dunning & Lundan, 2008:3). They are emerging by virtue of their fast economic growth (http://www.forbes.com/2010/05/27/winning-in-emerging-markets-opinions-book-excerpts-khanna-palepu.html), and according to the Boston Consulting group, they are using 5 basic strategies to strategically take on the world. (Lecture slides) - Taking brands from local to global - Transform local engineering excellence to innovation on a global scale - Achieve global leadership with a ‘narrow’ product line - Take advantage of natural resources in your home market and boost this with top marketing and distribution - Develop a new or better business model EMMEs are...
Words: 2001 - Pages: 9
...Short Essay | Diversity in the Workplace | How it can create business related advantages | | Madison Roney: 7660183 | 5/15/2013 | | In modern western society, the diversification of culture has increased dramatically in recent years. With this shift, along with the growing competitiveness of the labor market, corporations have been forced to hire more employees who are not familiar with the spoken language or societal norms present in western culture. Many corporations, as much as 80% according to equity activist Trevor Wilson, consider cultural barriers to be a burden on their managers and fellow employees. As a result, these corporations fail to treat their employees equitably. (Hayes, 1999). One could argue, however, that the diversification of employees within the workplace has various business related benefits such as improved efficiency, bottom line revenue, and relationships formed with co-workers, managers and customers alike. However, to ensure its success, principles of transformational leadership must be used on the part of managers and various challenges must be overcome in order for these benefits to take full effect. This is not the first time in Canada's history where ethnic equality in the workplace has been a subject of interest. In 1993 the New Democratic Party in Ontario, whom was the provincial government at the time, enacted an employment equity law to ensure fair employment opportunities to workers from select minority groups. This legislation...
Words: 1570 - Pages: 7
...I think that the most prevalent challenge of diversity in the work place would be miscommunication. I know that with anything in life communication is the key and it can either make you, or break you. That is the same with business relationships as well. Diversity-related challenges are present in almost every workplace, whether they are giant corporations or small businesses. The globalized business world has increased the need for individuals from all walks of life. Conflict is a natural part of this process and, as long as it is handled, can bring a group of employees closer together. Diversity refers to the differences between people and the acceptance and celebration of these differences (chron.com) People often exclusively relate the word "diversity" to multicultural issues, but it also spans differences in age, sex, sexual orientation, religion, background and position of power. People frequently get so consumed in cultural issues that they fail to treat other age, sexual orientation and religious groups fairly. Where there is difference and celebration of that difference, there is...
Words: 1520 - Pages: 7
...of advantages of stand up meetings. The main advantage of these stand up meetings is the meeting is focused and is on topic. Due to the stand-up meetings the distractions are eliminated. The most important advantage of the stand-up meetings is that the meeting is short and helps to go back to work on time. When the meeting is focused and on topic then sooner you will come to identify the issues so that at the right time you can take the action. In the stand-up meeting, if the team members are able to answer the questions such as what they have done the previous day and what they have set up for this day to complete would help them to move on in a structured manner in order to finish the work faster. As per the stand-up meetings, it involves each and every employees of the organization to take part of the project as they will come to know the flow of the process and also helps them to know the work which is being done by each and every employee in the team. Along with the advantages we also have disadvantages, the disadvantages for stand-up meetings are as follows: some employees in the team would search for reasons for not attending the meeting, for incomplete work which is required to be done on time. Another disadvantage is that...
Words: 1095 - Pages: 5
...nonsubstitutable and as such, are also competitive advantages? Why or why not? Answer The core competencies of Netflix lie in primarily its model customer-care and customer-service, which entails the fact that Netflix is well aware and knowledgeable of its customer and his preferences. Another core competency that has helped the business grow is its IT management and development. Moreover, Netflix merges these two core competencies to gain a higher competitive advantage over competitors Hitt et al, (2007) states that Netfix uses the advanced technology to track customer preferences for movies. This let it tailor availability of services and products accordingly. In addition, it allows Netflix to stay ahead of competitors as well as a chance to make customers happy, by delivering the content they want at their doorstep. Netflix meets these two primary objectives everyday through focus and consistency, which are part of the company’s competencies; thus it allows maximum competitive advantage over other market players. Although, these competencies are not difficult to imitate and implement by the competition, the execution and the effectiveness of the application as managed by the customers, making the latter an important tool for creating a pleasant brand image and experience, appreciate Netflix. This brand image and experience is then difficult to imitate for the competition and translates into a rare competitive advantage...
Words: 662 - Pages: 3
...Breakeven for Microsoft and Apple The main purpose for this communication is to address the breakeven for Microsoft and Apple when they develop a new computer operating system. It will also expound on the various challenges that this breakeven rise for Apple, how Apple can overcome these challenges and the sources of Apple’s competitive advantage. Additionally, this memo will address how Apple’s financial performance compares to its rivals, what a DuPont formula analysis explains and challenges that Apple faces moving forward. It will also discuss the moves that Apple should consider moving forward. Subsequently, it will also discuss the stock performance of Apple and how Apple’s retail strategy supports its overall approach to competitive strategy. Lastly, this memo will articulate how important Steve Jobs was to Apple’s future. Breakeven for Microsoft when they develop a new computer operating system The breakeven for Microsoft when they develop a new computer operating system mostly depends on the product being developed since each on them varies. However, Microsoft has ensured that it maintains a breakeven of about 50% for most of its new computer operating system that ensures that Microsoft can cover its expenses prior for it attaining a profit. Microsoft also sets the breakeven quantity in terms of quantity, and the number of months it has to sell so that it can recoup the expenses incurred while developing the new operating system. For example, it had to sell 17...
Words: 929 - Pages: 4
...intelligences exercises. What similarities and differences exist within the team? 2. What are the advantages of having diversity on a team? What challenges might the team face because of diversity? Advantages: In my opinion having the diversity in a team has many advantages such as, differences in prospective, ideas, and opinions. Instead of looking at the problem with just one prospective other member can suggest different or easier way to solve it, because of his/her knowledge from different race, gender, ethnic group, age, personality, education, background, etc. The best result comes from people with diverse points of view, who can collaborate, share different prospective, and take action. Moreover, diversity increases the creativity and gives birth to new inventions. Furthermore, it improves or increase our ability how to effectively communicate with a person with different cultures or background. (107 words) Challenges: Team will be faced with challenges such as, who is responsible of preforming which task, and/or job duties, etc. Who will decide the responsibility of the task, which they’re capable of performing. When it comes to class assignments or deadlines, there will be disagreements, challenges to meet everyone’s schedule, staying on track and staying on schedule. If the team is unorganized it will face many other challenges, which will delay the class projects or papers. (185 words) 3. How might factors such as diversity,...
Words: 777 - Pages: 4
...Montrez Fox Lawanda Robertson Introduction To Business 10/26/2010 1. Identify at least three challenges when setting up a business. Explain why they are challenges. The first challenge I see with setting up a business is deciding what type of business to start. Choosing the wrong business can ultimately cause your business to fail. The second challenge I see with setting up a business is targeting potential customers. You have to figure out who your going to sell your product to and how to reach these individuals. The third challenge I see with setting up a business is coming up with the capital to start the business. It takes money to make money. Unless you have a nice savings account, you will probably have to get a business loan or find people who are willing to invest in your company. 2. Define what a “niche” product is. Give at least three examples of niche products. A niche product is something designed to appeal to specialized interests. Not for everyone, but a specific customer. Examples; speakers at the Bose store, Starbucks Coffee, a restaurant that sells Chinese food. 3. Explain why a niche company might have an advantage in a market. Would price necessarily be an advantage? Explain why or why not. A niche company has an advantage in the market because the customers are coming to the store specifically for a product that the company sells. If a woman walks into Victoria’s Secret, she’s shopping for women’s underclothes...
Words: 477 - Pages: 2
...QUIZ: CREATING COMPETITIVE ADVANTAGE 1. What is competitive advantage? Competitive advantage referred to an advantage over competitors gained by offering consumers greater value than competitors do. It means that a firm has over its competitors, allowing it to generate greater sales or margins and/or retain more customers than its competition. There can be many types of competitive advantages including the firm's cost structure, product offerings, distribution network and customer support. Moreover, it requires delivering more value and satisfaction to target consumers than competitors do. To gain competitive advantage, companies must understanding customers to develop profitable customer relationship. Building profitable customer relationships and gaining competitive advantage requires delivering more value and satisfaction to target consumers than competitors do. 2. How to develop your competitive advantage? This is one of the ways used by company to analyze their competitors, other than value-based strategies for building and maintaining profitable customer relationships. The first step is to analyze the competitors (competitor analysis), which are the process of identifying, assessing, and selecting key competitors. The second step is developing competitive marketing strategies, which give company the greatest possible competitive advantage. It is vital for a company to find out all it can about its competitors. Therefore, here got several...
Words: 837 - Pages: 4