...Strategic Plan, Part I: Conceptualizing a Business Strategic Plan, Part I: Conceptualizing a Business One of the essential components when conceptualizing a business is to initially create the vision, mission and values as a backdrop of the business. These facets will be the basis of which the company operates and what it is built upon. For instance, as I looked through several organizations websites including: Cox Communications, GE, CARQUEST and Entergy, they all mention frequently within their vision and mission statements and their values that there business practices are conducted with integrity, honesty and customer service is of the utmost of importance. Additionally, they go on to indicate they promote productivity and diversity throughout the company. As I brainstormed ideas as to what my business form would be, the service or product I would provide as well as what is in demand; I too would like my company to be built on the basis of those parallel characteristics mentioned above. In this strategic plan, part I, I will explain the importance of my business’s vision, mission, and values in determining my strategic direction, including the following: defining my business, services, and customers by developing a mission statement and the differentiation of my services. I will create a vision for my company that clearly demonstrates my decision on what I want my business to become in the future. In addition, I will utilize guiding principles or values...
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...Business Analysis Part III: Costco Wholesale Corporation MGT/521 June 14, 2012 Business Analysis Part III: Costco Wholesale Corporation Jim Sinegal, Costco Wholesale cofounder and CEO summed up Costco Wholesale Corporations strategic planning and operations in a nutshell according to the Retail Industry website, “Wall Street is in the business of making money between now and next Tuesday. We’re in the business of building an organization, an institution that we hope will be here 50 years from the now. Strategic planning is an important part of running any business and the more so for businesses that operating in multiple states and countries.” On May 27, 2012, Costco Wholesale Corporation reported sales that covered a period of thirty-nine weeks. The Corporation reported “net sales of $7.67 billion for the month of May, the four weeks ended in May 27, 2012, an increase of 7% from $7.14 billion during the similar period last year” (Bloomberg BusinessWeek, 2012). The company reported net sales ending in a thirty-nine week period of $71.28 billion, “an increase of 10% from $64.75 billion during the similar period last year” (Bloomberg BusinessWeek, 2012). Many may wonder why Costco Wholesale Corporation is the leading wholesale business in the industry. To provide a good understanding of why Costco Wholesale Corporation is the leading warehouse distributor in the industry, this paper will help provide understanding by discussing strategic initiatives of the corporation and...
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...Strategic Plan Part 1: Conceptualizing a Business 1 Strategic Plan Part 1: Conceptualizing a Business BUS/475 - Integrated Business Topics Michael Portillo August 29, 2011 Strategic Plan Part 1: Conceptualizing a Business 2 GPS Marketing is a marketing company that specializes in getting qualified guaranteed prospects to see in front of independent insurance agents. GPS actually stands for “Guaranteed Prospects to See”. GPS Marketing guarantees every agent that comes aboard with our company that we will put them in front of at least 15 qualified prospects. GPS Marketing’s mission statement is “ Our goal is to get independent insurance agents in front of qualified annuity prospects on a favorable basis which in return increases their income substantially. We do this in a multitude of ways and we want to show you just how we can help you and your business.” In the following paragraphs is a description of how GPS Marketing can do just that. Our first program that we offer our independent insurance agents is our GPS program or our Guaranteed Prospects to See Program. GPS guarantees each of our new independent agents that we will send out one-thousand mailers which are done through direct mail. GPS sends this direct mail to a particular demographic. What this means is that this mailer will only be sent to those individuals that make at least an income of $50,000 or more, own their own home, and are between the ages of 50 and 70 years old. GPS does this for the agent...
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...Running Head: Strategic Plan, Part I: Conceptualizing a Business Strategic Plan, Part I: Conceptualizing a Business Name BUS/475 Teacher Name March 28, 2011 Introduction Mission, vision, and value statements are critical factors that act as guiding principles for an organization’s strategic initiatives. Organizations build their corporate, business, and tactical strategies and objectives. The given paper is a descriptive analysis of mission and vision of Ace Gym, and how these statements help Ace to differentiate itself from its competitors. In addition to that, the paper also discusses about Ace’s values, which are governed by its mission and vision statements, and how these values inherently guides the company’s strategic directions, which in turn will help the company to satisfy its stakeholders, increase profitability, and differentiate itself from competitors. Analysis The business plan is to develop an online Gym, named as Ace Gym. This Internet business will provide value added services to its customers, by charging them one dollar a month to get daily fitness tips tailored to their needs. It will include a trainer who will interact with the customers, gather their health related data, and prepare a health schedule for them. The trainer will also monitor their diet and exercise schedule by using an automatic attendance system. Mission Statement · Industry: Online Service Industry --- Specialization: IT and Health · Product: None · Service: Health...
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...Business Model and Strategic Plan Part 1 Dusty Meins BUS/475 April 27, 2015 Joseph Ellington Business Model and Strategic Plan Part 1 Strategic planning helps an organization set the path it wants to take, as well as, defining their place in the business world. The vision and mission statements help an organization to define who they are, what they do, and where the want to go in business (Pearce & Robinson, 2013). The values of a company are also very important when developing a strategic plan. This sets the standard for the company’s priorities. NBTY, Inc. is a health and wellness company that supplies vitamins and nutritional supplements, both online and in stores. The company has decided to open a new division. Before beginning, NBTY, Inc. will need to develop a strategic plan beginning with the vision, mission, and values statements, determine how the new division will affect customer needs and give the company a competitive advantage, and then create a business model. Vision, mission, and values “Become and be recognized as the global leader in wellness products, providing our customers with brands that are loved and trusted by consumers and are winning value-creators in their industry” (NBTY.com, 2015. para.1). This is the vision statement for NBTY, Inc. Vision statements help a company show what the organizations purpose is within in the origination itself, as well as, the community. This statement sets the core vision and a guidance for NBTY, Inc. for...
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...Preparing to Conduct Business Research: Part 2 Sexual harassment is a serious issue in society as a whole. Harassment can cause the victim to suffer a world wind of emotions and can also effect those close to the victim such as family members and friends. This paper will review the importance of research pertaining to sexual harassment, and also identify some of the variables that may be considered within the research. Key Objectives? Although sexual harassment is a very emotional ordeal it is important to remember that in doing your research you must keep the business stance first. Key objectives must be in place when completing the research, and when implementing any plans. A few things to conceder as you collect data are what some researchers label as SMART Objectives. SMART Objectives is a way to help you clearly define the objective in a way that allows you to determine at a specific later date whether you have met that objective. This is especially important for a topic that can be so emotional. As the research is being conducted certain questions must be addressed. While this topic can make some uncomfortable it is detrimental to the study that very specific thing are addressed. The first fact to conceder is the location of the harassment, and who was present at the time. Effective research also requires knowing the position or title that the aggressor holds, and is this a position of authority. The date, and time are important to conceder as well. Last but certainly...
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...BizLabs – Student Manual Business Strategy Simulation Table of Contents 1 INTRODUCTION ................................................................................................................................................ 4 1.1 COMPANY DEPARTMENTS ......................................................................................................................... 4 1.1.1 RESEARCH & DEVELOPMENT (R&D) ........................................................................................................................ 4 1.1.2 MARKETING ..................................................................................................................................................................... 4 1.1.3 PRODUCTION ................................................................................................................................................................... 4 1.1.4 FINANCE ........................................................................................................................................................................... 4 1.1.5 HUMAN RESOURCES ........................................................................................................................................................
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...leadership and he named his eldest son Frank as the new CEO and told him to double the company’s revenues within a space of 5 years. The dilemma that Frank was facing was that even after 2 years into this job of his he did not have any credible strategies to fulfill his father’s promise or to attain aggressive growth as his father wanted. Calveta Dining Services owed its success to Antonio Calveta’s passion for food, traditional family values and the customized services they offered to the SLF residents. Frank was named CEO of the company over his other siblings including his sister Jennifer Calveta who was more suited for the job, now Frank was left with the option of expanding their business by acquiring Great South West Dining (GSD) or to enter into the hospital segment and diversify their business and at least try and come close to meeting his promise to his father. Analysis The United States Census Bureau’s survey showed that only 25% of the total SLF’s in USA had contracted to food services, this survey alone shows that there is a great potential for growth in the SLF’s segment and therefore it would have been meaningful for Frank to buy Great South West Dining but the eye popping debt figures that came before him alone are sufficient to say that it would not be a feasible solution and it would be much better decision for Frank to diversify Calveta Dining Services by extending to other segments, like providing food services to the hospitals. Few reasons why Frank should...
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...departments; heavy maintenance, shop maintenance and finance. (partial implementation) 2) How does Maintenix improve operational efficiency and decision-making? • Matintenix provides a system platform that is accessible via the Web and easy to deploy to all stations around the world. Mxi claims that their software reduces repetitive tasks and time chasing missing or incomplete information by allowing maintenance, engineering, and finance divisions to easily share information. This assures the improvement of operational efficiency. • Maintenix can supply data to the company’s existing enterprise resource planning and financial software. • Wireless deployment also make Maintenix more effective, since aviation technicians, equipment, and parts are always on the move. • All of the information provided by Maintenix’s various modules is located in one place. This results in more rapid scheduling and avoids pitfalls of poorly organized information systems. 3) Give examples of three decisions supported by the Maintenix system. What information do the Maintenix modules provide to support each of these decisions? Maintenix software package consists of 6 different modules which are separate segments of the product and interconnect. • The Maintenix engineering...
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...Comparative Response Strategies- Introduction: In the current competitive market, various rivalries between industry giants may be witnessed. There are various components in which these competitions are studied. The core principle of such competition should be focussing on one’s own strength and avoiding one’s weaknesses. But, many a times, companies and industries tend to neglect this fundamental. Various companies implement various marketing mixes with different composition of the constituents. There for to analyse the action-response relationship can be studies by a matrix called Comparative Response Matrix. Comparative Response Matrix: The Comparative Response Matrix is an important tool used to study the competition between two companies. The matrix has three parameters namely Price, Quality and Advertisement. These three parameters give a 3x3 matrix which give us nine different action-response parameters. The matrix can be drawn as follows: COMPANY B(Response) | COMPANY A(Action) | | | Price | Quality | Advertising | | Price | Cp,p | Cq,p | | | | | | Ca,p | | | | | | | Quality | Cp,q | Cq,q | Ca,q | | Advertising | Cp,a | Cq,a | Ca,a | Table1. Comparative Response matrix Therefore all the nine parameters mentioned in the table signify the responses taken by company B against the actions taken by company A. We can further discuss each parameter separately using examples from the industry in detail. 1. Cpp : The...
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...Career Plan Reflection BCOM/275 3 November 2014 Bruce McEwan, Ph.D. Career Plan Reflection I found the Career Plan Building Activity to be both helpful and trivial. There were 4 segments in this survey tool and I noticed dead accurate results on the first two but the remaining two seemed illogical and contradictory. The Career Interests Profiler segment results showed I would excel in any technical field to include engineering, law and technical sales. I could definitely understand the results and the questions in the survey seemed to be logical and presented in a way to which I wasn’t forced to contradict myself as I would see in a later segment. The Competencies segment was also logical and I would agree with the findings. It showed strengths in the areas of taking initiative, coping with pressure, applying expertise, writing, researching and presenting. I do hold myself to a high standard in all of those categories and already consider those some of my strengths. Under the Work Culture Preference section I found the questions to be trivial and the restrictions on how the answers were to be submitted forced me to directly contradict previous answers. There were a great number of questions repeated but due to the compound questions and the format in which they were presented I found myself frustrated and unable to accurately answer. An example is similar to having the user choose their single favorite and single least favorite among three choices: dogs, leadership...
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...making any specific efforts to satisfy particular groups. This may work when the product is a standard one where one competitor really can’t offer much that another one can’t. Usually, this is the case only for commodities. In the concentratedstrategy, one firm chooses to focus on one of several segments that exist while leaving other segments to competitors. For example, Southwest Airlines focuses on price sensitive consumers who will forego meals and assigned seating for low prices. In contrast, most airlines follow the differentiated strategy: They offer high priced tickets to those who are inflexible in that they cannot tell in advance when they need to fly and find it impractical to stay over a Saturday. These travelers—usually business travelers—pay high fares but can only fill the planes up partially. The same airlines then sell some of the remaining seats to...
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...Hello! Thank you for your question regarding the statistics of test takers and their test preparation expense. The short answer is that there are variations based on the specific type of test. I have prepared a response for each of the tests. Below are the details of my finding. TEST STATISTICS: For the statistics on test preparation cost, I have assumed the cost of test preparation materials found online for each of the tests. GRE: According to data from an ETS report, the total number of test takers for the general GRE between July 2013 and June 2014 was 572 779. Of this figure, 59% was US citizens while 36% was non-US citizens. The citizenship status of the remaining 5% percent was not specified. Preparation for the test varies as individuals may decide to buy the GRE test preparation samples available online. Assuming one prepares with the super kit, the cost is $70 for a soft copy. The cost of the taking a GRE test is $220.70 for Chinese test takers and $205 for test takers from the rest of the world. The test is available in about 1000 test centres around the world. The paper-delivered tests are offered three times a year at each test centre while the computer tests can be available for up to three times a month in Mainland China, Hong Kong, Taiwan and Korea test centres. These data translate to a minimum of 3000 tests offered per year. GMAT: A report available from GMAC indicates that GMAT had a total of 247,432 GMAT test takers between July 2014 and June 2015. This...
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...PART3 Individual Journal Reflecting On Group Experience. 1. Describe We have a lot of differences in choosing the research model and the data because each of us has our own understanding and opinion about this assignment. Our resources are different and limited so we cannot reach an agreement at the beginning. 2. Analysis The reason of the difficulty is that some parts of the assignment need the data on some websites like ASX and others come from the financial statement. That means the resources of each part is very different and limited. Using limited resources to do research is difficult and challenging. But this is a good opportunity to improve our academic ability. And also in order to improve the integrity and rationality of the whole assignment, we must consider our teammates as far as possible, such as using the same data range. Besides, there is a very important point in the whole assignment. Sometimes one person finishes his part and calculates a ratio as a result. It seems that he has done his part. In fact, the ratio is very important or the key point in the teammates’ part, so he must take the rationality of the result in consideration, or it will create a lot troubles for the teammates. 3. Evaluation A group assignment is different from the individual assignment. Although the distribution of the sections seems to reduce the burden of everyone, it is necessary to spend more time and effort on the discussion, compromise and even debate which out...
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...Tamala Ruffin ENG 1250 October 11 2014 How to do a sew-in weave First, setup a work station so that you have all your supplies to be readily available. After the station is setup lay out all of the supplies that’s needed. The supplies that are needed for the service are at least two combs, a towel, clips, needle and thread, the hair, curling or flat irons (depending on the desired style that's to be achieved), oil sheen, and hair spray. Next, wash and blow dry the client’s hair. After the hair is thoroughly dried you began the parting. Parting can vary depending the outcome that's to be achieved. For a more natural look, and versatility the desired parting would be four sections. At the very top of each section leave at least an inch of hair unbraided to cover up the weave wefts. Once the four sections are done, begin to braid each section making sure the braids are not too big. Braid the hair in a horizontal pattern until you get to the ends leave the ends hanging, although it looks odd just hanging there once you start to sew-in the hair you can just simply add that hanging braid with the first row from the bottom you start to apply the hair to (sample web page). Now you can begin to thread your needle making sure you have enough thread to cover the weft of hair being used. Starting from the back of the head measure the weave hair against the braid that it's is going to go on than cut it. Place the cut weft on top of the braid, and began the process of sewing...
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