...Business Strategy Review Questions Chapter 1 The Nature of Strategic Management 1. Distinguish between long-range planning and strategic planning. Long-range planning is used to optimize for tomorrow the trends of today, whereas strategic planning is used to exploit and create new and different opportunities for tomorrow. 2. Compare a company’s strategic plan with a football team’s game plan. A strategic plan is, in essence, a company’s game plan. Just as a football team needs a good game plan to have a chance for success, a company must have a good strategic plan to compete successfully. 3. Describe the three activities that comprise strategy evaluation. The three fundamental strategy-evaluation activities are (1) reviewing external and internal factors that are the bases for current strategies, (2) measuring performance, and (3) taking corrective actions 4. How important do you feel “being adept at adapting” is for business firms? Explain. The strategic-management process is based on the belief that organizations should continually monitor internal and external events and trends so that timely changes can be made as needed. 5. Compare the opossum and turtle to the woolly mammoth and saber tooth tiger in terms of being adept at adapting. Students’ answers will vary, but students are likely to make the argument that those species that are adept at adapting are able to survive, while those that are unable to adapt are more likely to perish...
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...1.0 INTRODUCTION Dave Lindsey fund the capital of its business by using $30,000 of his and his wife's personal savings and name it as Defender Security Co. They sell and install ADT security systems to homeowners in U.S. Their house was used as their main office at the beginning. After years of selling and hard work on reaching monthly quotas and mostly sell more than it, Defender became one of the largest security dealers in the Midwest. Then, they become dealers of other products like Dish Network Satellite TV, True Energy Smart Air, Williams Comfort Air and Outsource Sales Center. Defender also encourage self improvement and leadership by sending their employees for training. In conclusion, they believe that business do not grow, people do. 2.0 VISION AND MISSION STATEMENT Defender is striving to be best in the world at attaining customer by providing them the top brand-name products and services that could improve the lives of homeowners. Defender Direct has developed such a strategic vision that directs the company of where it is heading and maps a future business path. On the other hand, its mission statement covers four areas. These four areas describe the company’s present business purpose likewise, what they do. First, the company acquires customers by serving their customers the best service and products. Second, the company uses its unparalleled direct marketing capability to create leads. Third, the company transforms leads into sales like no other. Lastly...
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...Аbstrаct The report detаils on the Industry- e-commerce, to which Аmаzon belongs аnd how Аmаzon implemets E-commerce in its model. Аmаzon’s business strаtegies аnd it’s mаrket strаtegies hаve been covered in brief. Аmаzon is one of the biggest plаyers in the field of cloud computing аnd the wаy it’s implemented hаs been covered. Vаrious MIS tools аnd Models which аre employed by Аmаzon in it’s business solution, helps in developing better understаnding of the compаny аnd the subject in generаl. Industry Introduction: E-Commerce Electronic commerce populаrly known аs e-commerce is а new growth direction for the business community. It is the use of digitаl trаnsаctions between businesses аnd individuаls. In other words, e-commerce is the use of the Internet to conduct business trаnsаctions. Given the huge potentiаl thаt this formаt hаs, technology will certаinly improve ecommerce аnd hence provide individuаls with more choices, thereby аdding to the economy. E-Commerce is аlso defined аs the аbility of а compаny to possess а dynаmic presence on the Internet which will thus аllow the compаny to conduct its business electronicаlly; in other words shift to аn electronic shop. Products here аre аdvertised, sold аnd pаid electronicаlly. Due to the expаnsion of the internet, аdvertising аnd is аvаilаble to people аcross the world for аlmost negligible. Аn аdditionаl аdvаntаge is thаt, the technology offers immediаte up grаdаtion аnd solution to issues. The biggest chаllenge for...
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...Club IT part 2 Mark Reis Xbis/219 August 18, 2013 Katherine Escobar Club IT part 2 Ruben Keys and Lisa Tejada along with many other business owners understand that information system technologies will let their originations to compete and flourish in the market place. Lisa, Rubin, and a systems consultant have analyzed the current information system status and during this analysis they have identified three areas that need improvement. This prompted Lisa and Ruben made the decision to upgrade their information management systems. The first problem their information system identified was neither Lisa nor Ruben were not up-to-speed with e-commerce. The second problem is that their computers are old and out-dated along with that their Internet connection was the old hard-wired system that plugged directly into the computer. The third problem, they need a better way to keep track of customer orders along with keeping track of inventory. A “Water Fall” method was Lisa and Rubens choice of method to use in their systems analysis (Wiley Higher Education, 2006). Current Information System Lisa and Rubin use their information system to help run their business and in their decision-making process’ (Wiley Higher Education, 2006). Their intranet and using the Internet helps them search for and retrieve needed information quickly. The web site has a login for employees, and they can access their personal information like, how many hours they...
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...SG C1 True/False Indicate whether the statement is true or false. __T_ 1. IBM defines electronic business as "the transformation of key business processes through the use of Internet technologies." ___T_ 2. A transaction is an exchange of value. ___F_ 3. A transaction always has one or more activities associated with it, and an activity will always be related to a transaction. __T__ 4. Transferring funds, placing orders, sending invoices, and shipping goods to customers are all types of activities or transactions. __F__ 5. Business-to-consumer electronic commerce occurs when a person sells an item through a Web auction site to another person. __T__ 6. The U.S. government is one of the largest EDI trading partners in the world. __T__ 7. Firms such as Walmart and General Electric have been pioneers in using EDI to improve their purchasing processes and their relationships with suppliers. __T__ 8. A value added network (VAN) is an independent firm that offers connection and transaction-forwarding services to buyers and sellers engaged in EDI. __T__ 9. The increase in broadband connections in homes is a key element in the B2C component of the second wave. __T__ 10. In some cases, business processes use traditional commerce activities very effectively, and technology cannot improve upon them. __F__ 11. The skills of merchandising and personal selling can be easy to practice remotely. __F__ 12. A small-denomination item...
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...The Growth of Alibaba pg.8-pg.10 * Alibaba Business Model pg.11 * Five Forces Analysis pg.12-pg.13 * Present the Corporation Now pg.13 * Business Environment pg.14-pg.15 * The Financial Analysis pg.17-pg.18 * SWOT Analysis pg.19 * Recommendation for Alibaba pg.20 * Conclusion pg.20 * References pg.21 Definition * E-commerce Electronic commerce, commonly known as e-commerce or eCommerce, is a type of industry where the buying and selling of products or services is conducted over electronic systems such as the Internet and other computer networks. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. Modern electronic commerce typically uses the World Wide Web at least at one point in the transaction’s life-cycle, although it may encompass a wider range of technologies such as e-mail, mobile devices, social media, and telephones as well. Electronic commerce is generally considered to be the sales aspect of e-business. It also consists of the exchange of data to facilitate the financing and payment aspects of business transactions. This is an effective and efficient way of communicating...
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...Li & Fung : Strategic Role of E-Commerce 2006/9/13 ECT 7010 Fundamental of ECommerce Technologies 1 Defensive posture of Li & Fung to the Internet at the beginning “Would the Internet disintermediate us? Would we get Amazoned by someone who will put together all of the information about buyers and factories online?” Answer: The Internet facilitates supply chain management and Li & Fung were not going to be disintermediated Key: have the old economy know-how and yet be open to new economy ideas 2 2006/9/13 ECT 7010 Fundamental of E-Commerce Technologies Internet Issues August 2000, beta launch of the new Businessto-business(B2B) e-commerce portal Important issues: Was there any chance of channel conflict or cannibalization between the offline business and the start-up? How would the market reach to the start-up once it was launched the following year? How specifically would e-commerce ultimately transform his family’s century-old company? 2006/9/13 ECT 7010 Fundamental of E-Commerce Technologies 3 Company Background 2000 – Li & Fung a $2 billion global export trading company 3,600 staff worldwide Sourcing and managing the global supply chain for high-volume, time-sensitive consumer goods Product mix – hard and soft goods Soft goods – apparel, including woven and knit garments Hard goods – fashion accessories, festive or holiday products, furnishings, giftware, handicrafts, home products, furnishing, home products, fireworks, sporting goods, toys...
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...Associate Level Material Appendix D Club IT, Part 2 To learn more about Club IT’s operations, you stayed until the 2:00 a.m. closing this morning to see how everything was tallied and accounted at the end of a business day. Although it was a late night and you had to wake up early this morning to report back to work, you now have a better understanding of the daily business cycle at Club IT. You are energized when Lisa asks you for suggestions on how to use club and public resources to keep Club IT’s edge as the high-energy, high-impact club it strives to be. The Internet research you have been doing for Lisa and Ruben has been eye-opening, but it is also exasperatingly slow on their dialup connection in their cramped back office. You have a lot of ideas for useful network applications at Club IT. There are many opportunities for discovery and collaboration among employees, members and business partners. You decide to take the initiative and research network applications for the benefit of Club IT. You have interviewed Ruben and the rest of the staff at Club IT and have compiled the following notes: • Club IT’s customers are mostly Net Generation and Millennials. They regularly use mobile technologies such as Blackberries, PDAs, camera phones, and other wireless communication devices. Online shopping is a regular part of their lives. • Not many nightclubs have taken advantage of various e-commerce activities, and Ruben sees this as an opportunity to gain...
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...3. Comprehensive Discussion on Consumerism Issues Panasonic adopted Firefox OS on their TV Panasonic faced huge competition in distributing and promoting the smart TV with operating system among the competitors such as Sony with Android TV, LG with webOS and Samsung with Tizen. In order to stay stable among the competitors, Panasonic made a great effort in their Smart TV platforms. Hence, Panasonic united together with Mozilla and subsequently came out with Panasonic Smart TV powered by Firefox OS. (Hands on: Panasonic Firefox OS Smart TV, 2015). By launching Firefox OS in smart TV, it will definitely bring more choices to customers, hardware manufacturers, developers and community. Panasonic has used the Firefox OS since year 2014. This development of the Firefox OS enhances the accessibility of the smart TV by supporting the HTML5 and web technologies on desktop computer and smart phones or tablets. (Harris, 2014). Simultaneously, this platform also facilitates the consumers in the optimal access to web browsers as well as broadcasts the content and services through the Internet. With the introduction of new Mozilla-pioeered WebAPIs for hardware operation, next generation smart TVs are capable of monitoring and controlling the devices of the home appliances. (Harris, 2014). Other than that, the manufacturers can create innovative applications across the connected devices by leveraging the flexibility of the web. (First Panasonic Smart TVs powered by Firefox OS Debut Worldwide...
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...types of EC activities Business-to-Business (B2B) An interaction between the business people and other organizations is known as Business-to-Business (B2B). For example www.walmart.com and www.Sams club.com Business-to-consumer (B2C) Business selling to individual shoppers is known as Business-to-consumer (B2C). For example www.Barnes&Nobles.com. E-tailing Online shopping having access to products of interest for the consumers, by visiting their website directly is called E-tailing. For example Amazon, e-Bay. Business-to-Business-to-consumer (B2B2C) Business providing some product or service to a client business that maintains its own customers is known as (B2B2C). Consumer-to-Business (C2B) A consumer uses internet to sell products or services to organizations or individuals seeking sellers, to bid on products or services they need. For example e-Bay. Business-to-employees (B2E) Organization delivers services, information, or products to its individual employees. For example www.asics.com Consumer-to-consumer (C2C) Consumer sells the product directly to other consumer. For example www.craigslist.com List of advantages and disadvantages of Electronic Commerce Advantages - 24/7 services for buying or selling products - Readily available to customers - Easy to manage a business - Faster and user friendly buying/selling procedure - Low operational costs and better quality of services - No need of physical company set-ups for business Disadvantages - No...
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...Product Design and Development Strategy On 5 September 2012, BBC reports that Lumia 920, which is the flagship device in Europe, features wireless charging as well as its revolutionary camera pure view, which allows you to take pictures at night. Nokia argues that it can capture 10 times the amount of light, compared to the rest of the Smartphones in the market (“Nokia unveils two” 2012). This feature creates competitive advantage for the company as well as technological leadership. The 820 model featured also wireless charging however less impressive technology and a slightly smaller display (Stevenson, 2012) Customers have encountered problems with the phone software. Such as, Lumia 900, which is the flagship device for US, has been introduced with software bug, which prevents users from connecting to the Internet (“Bug hits new”, 2012). This has surely caused negative word of mouth for the devices, as well as disappointment for the owners of the Windows phone, it has surely affected European customer base as well. Apps that run on Windows phone are much less than those that Android and IOS offer for their customers. This is a huge problem for Nokia, as apps are really important for the Smartphone user. Nokia’s devices are offered in different colours such as green, red and yellow so the customers can customize the phone by their preferences. The devices are differentiated in the product part of the marketing mix. However it does not become clear whether the products...
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...brand in a business-to-business context different from doing so in the consumer market is very important in both sectors. Creating and emergent a strong product is a very serious step towards introduction or situations a corporation apart from its challengers. This pace depends on many inconsistent within the company settings within which the corporation subsist and be in the right place. An case in point an group has to comprehend its process, its promotion and most prominently who its patrons and opponents are within the industry. A trademark is basically a name, drawing or score that notifies and advises its clients the distinctiveness of a goods and also facilitates patrons to decrease most jeopardy concerned in the exchange conclusion. To grow a business-to-business (B2B) product, a business must be ready and capable to apportion and conduit some of its possessions and liveliness on enlightening its customers. This engages, the opening to the good(s) in subject and the organization’s character such as its competence and the customary and eminence of its good(s). Responsiveness and edification and operations are the furthermost paraphernalia’s in a B2B to facilitate the sale of the standing of a company and its trade name and good(s), which Cisco effectively accomplished. In a B2B the embattled assemblage is more often than not a firm, institute or corporation. During its B2B, Cisco listening carefully to its thought on manufacturers of IT conclusion within business and company...
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...language, time and distance, infrastructure, and currency perspective. Additionally challenges related to state, regional and national law too are examined. Challenges implementing multi-stage e-commerce model Implementing global systems for a multi-stage ecommerce model can be a daunting challenge and yet provide a growth opportunity simultaneously. Simplistically, e-commerce refers to some form of electronic activity (e.g. buying or selling goods or services online) , that cross organizational barriers, with or without the involvement of WWW or Internet. Ecommerce systems can be implemented as Business-to-Business (B2B), Business-to-Consumer (B2C) , Consumer-to-Consumer (C2C) and Business-to-Government (B2G) models (IBMR, 2008). Regardless of the model, if their associated challenges are well-identified and proactively addressed, then a new world of opportunity due to market expansion and growth potential, awaits the companies, undertaking the risk to implement these e-commerce models. In my opinion, these challenges can be successfully addressed by adopting a four step approach, as below: 1. Identify and analyze the applicable challenge. 2. Devise suitable mitigation strategies or counter-measures to address them. 3. Incorporate an ongoing method of work (MOW) to regularly and...
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...E-commerce entails the use of the Internet in the marketing, identification, payment and delivery of goods and services. This paper highlights the status, statutes, potential and constraints to e-commerce development in Bangladesh. Both the statutory laws as well as the challenges in implementing them are discussed. Major legal, regulatory and institutional constraints to e-commerce are identified. The paper also lists specific policy changes aimed at bringing improvements to the legal and regulatory environment affecting e-commerce. Dimensions of E-Commerce The three dimensions of e-commerce are Business-to-Consumers (B2C), Business-to Business (B2B) and Business-to-Government (B2G). B2C e-commerce is unlikely to be of much use in the near future in Bangladesh because of low per capita income, a weak infrastructural and legal environment, lack of trust between business and consumers. B2C for cross border trade is also limited by the factors suggested for the domestic front. In addition, non-availability of international credit cards, foreign currency remittance restrictions, delays and informal payments at customs clearance even for small value and quantity items will discourage B2C. The B2B application already exists in the export sector of Bangladesh, especially in the Ready Made Garments (RMG) industry. RMG has the lion’s share of the export earnings in Bangladesh. The RMG sector has begun to use the Internet, and its dependence on ecommerce is likely to grow...
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...increase has opened up new opportunities and challenges for marketing to these customers electronically. Because business customers and individual customers react differently to marketing, strategies and tactics used to reach one segment may differ from those used to reach the other. This paper will first look at how the business customer and retail customer are different, then delve into the differences between B2B and B2C marketing. Relationship Differences One important aspect of marketing is to build good relationships with customers. “In B2B or business to business this requires a commitment of time and good customer service prior to ever making that first sale.” (Warholic, 2007, p.1). One of the differentiating factors between B2B and B2C sales is the B2B sales process takes longer because business customers require more communication and product details. Business customers are not apt to purchase during the first contact with a vendor. Usually the sale, especially the first one, takes multiple contacts creating a bonding relationship. Business buyers are accustomed to providing “data about their companies and job functions” when “registering for trade shows or subscribing to business and trade publications.” (Furlong, 2007, p. 3). This exchange of data is common practice between businesses allowing for the building of trusting relationships. Business customers tend to set up accounts with the vendor from whom they purchase...
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