...including human, physical, technological and financial resources are used and managed within business. This unit will help the learner to have an understanding of how human resources are managed and of the employability and personal skills required of personnel in an organisation. Learners will gain an understanding of the purpose of managing resources effectively, not only in relation to human resources but also in terms of physical and technological resources. Learners will also gain an understanding of how an organisation can gain access to sources of finance, both internally and externally and be able to interpret financial statements. There are clear links between this unit and many of the other units; it serves as a useful introduction to areas that may be covered in depth in further units. www.ocr.org.uk 2 Business Resources Level 3 Unit 30 ASSESSMENT AND GRADING CRITERIA Learning Outcome (LO) Pass The assessment criteria are the pass requirements for this unit. Merit To achieve a merit the evidence must show that, in addition to the pass criteria, the learner is able to: M1 analyse the recruitment documentation of a selected organisation Distinction To achieve a distinction the evidence must show that, in addition to the pass and merit criteria, the learner is able to: The learner will: 1 Know how human resources are managed The learner can: P1 describe the recruitment documentation used in a selected organisation P2 describe the main employability...
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...Sample Scenarios Assessment: MKC1 Market Environmental Variables Reading: Contemporary Marketing: Chapter 3 Questions: 1. How would you categorize Generation X using the five segments of the marketing environment? A: Competitive Environment B: Political-legal environment C: Economic environment D: Technological environment E: Social-cultural environment 2. Joe and Ryan both have storefronts in the local mall. Joe sells candies and Ryan sells pretzels. Are Joe and Ryan in direct competition with each other? A: Yes B: No Consumer Behavior and Marketing Reading: Contemporary Marketing: Chapter 5 Questions: 1. Rachel and Sarah’s parents always purchased groceries from the local Aldi marketplace. What is this type of behavior an example of? A: Cultural influences B: Social Influences C: Personal factors 2. Maryanne purchases Maxwell House coffee every two weeks from the grocery. What is this type of behavior an example of? A: Routinized Problem Solving B: Limited problem solving C: Extended problem solving 3. Aaron does research on several local colleges before applying to his first three choices. This is an example of: A: High – involvement purchase decision B: Low – involvement purchase decision Marketing Plans Reading: Contemporary Marketing: Chapter 2 + Ch. 2 Appendix Web sites: http://www.jpec.org/handouts/jpec33.pdf http://www.netmba.com/marketing/process/ Questions: 1. Strategies are...
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...Company Name Marketing Plan Company Address City, State, Zip Phone: Web Site: Contact: Table of Contents Executive Summary 3 Marketing Objectives 3 Goods or Services 3 Resources Needed 3 Projected Outcomes 3 Company Description 3 Strategic Focus and Plan 3 Mission/Vision 3 Goals 3 Core Competency 3 Situation Analysis 3 Internal Focus 3 External Focus 3 Industry Analysis/Trends 3 Competitor Analysis 3 Company Analysis 3 Customer Analysis 3 SWOT Analysis Summary 3 Market – Product Focus 3 Marketing and Product Objectives 3 Target Markets 3 Points of Difference 3 Positioning 3 Marketing Program 3 Product and Product Strategy 3 Price 3 Promotion 3 Place 3 Data and Projections 3 Sales Forecasting Methods Used 3 Sales Data 3 Costs 3 Financial Projections 3 Financial Information Systems Needs 3 Organization 3 Implementation Plan 3 People Required 3 Manufacturing, Financial and Other Resources Needed 3 Timing 3 Evaluation and Control 3 Marketing Information Systems Needed 3 Criterion Measures with Objectives 3 Appendix A: Biographical Sketches of Key Personnel 3 Appendix B: Support Material 3 Executive Summary The executive summary is a concise overview of the marketing plan. It is often the last section of the marketing plan written. Its purpose is to provide the reader with...
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...The Technological Innovation System Case study on the Danish Wind Energy System Questions 1 and 2: The two most important scientific journals that publish theoretical work on Innovation Systems: The two most important scientific papers are research policy with 330 published articles about innovation systems and technological forecasting and social change with 364 published articles on innovation systems. These two journals have the most articles published on Innovation systems and the biggest journal impact factor. The 3 most cited papers that cite the paper by Malerba, and their main research question: First reference: Geels, F.W. , (2004) From sectoral systems of innovation to socio-technical systems: Insights about dynamics and change from sociology and institutional theory, Research Policy, 33 (6-7), pp. 897-920. (Cited 380 times) Main research question: How can widening the unit of analysis from the sectoral system into an socio-technical system and conceptualize the dynamic interplay between actors, structures and institutions. Second reference: Tödtling, F., Trippl, M. (2005) One size fits all?: Towards a differentiated regional innovation policy approach, Research Policy, 34 (8), pp. 1203-1219. (Cited 294 times) Main research question: How can we construct an innovation policy for regions where innovation activities are strongly different between central, peripheral and old industrial areas Third reference: Bergek, A., Jacobsson, S...
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...1. What is sustained growth? It’s the growth between revenues and profits over a sustained period. Why is it important? Human capital is the most single factor for sustained growth. Entrepreneurs know that growth means there is hope for another day of success. When there a demand on your product is rising, you grow your company. 2. Describe economies of scale and economies of scope as rationales for firm growth. . Economies of scale are the cost advantages that a business can exploit by expanding their scale of production. The effect of economies of scale is to reduce the average costs of production. Some examples of how economies of scale work: Technical economies of scale: Large-scale businesses can afford to invest in expensive and specialist capital machinery. For example, a supermarket chain such as Acme or Wegman’s can invest in technology that improves stock control. It might not, however, be viable or cost-efficient for a small corner shop to buy this technology. Specialization of the workforce: Larger businesses split complex production processes into separate tasks to boost productivity. By specializing in certain tasks or processes, the workforce is able to produce more output in the same time. Marketing economies of scale: A large firm can spread its advertising and marketing budget over a large output and it can purchase its inputs in bulk at negotiated discounted prices if it has sufficient negotiation power in the market. A good example would be the ability...
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...Perspectives (http://www.enotes.com/business-finance-encyclopedia/marketing-historical-perspectives) 2. Marketing Myopia (http://coolrulespronto.wordpress.com/2008/12/17/marketing-myopia/) Answer These Questions Thoroughly 1. What are the four components of the marketing mix? 2. What kinds of decisions does Product strategy include? 3. What kinds of decisions does Price strategy include? 4. What kinds of decisions does Place strategy include? 5. What kinds of decisions does Promotion strategy include? 6. Describe each of the four eras (or orientations) in the history of marketing: 1) production era, 2) sales era, 3) marketing era, 4) relationship era. 7. What company attitude characterizes each of the eras? 8. What is marketing myopia? Provide three examples. Flat World Readings: Chapter 2 Print These Pages from the WGU E-Reserves * Environmental Scanning (Contemporary Marketing, pg. 61) * Technological Environment (Contemporary Marketing, pg. 75) * Table 3.1 Elements of the marketing mix within the...
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...Strategy and non-technological innovation Assignment for part-time MBA Competitive Strategies, week 6 October 4, 2012 This paper describes the consequences of a non-technical innovation for the strategy of a firm that operates in cultural industry. The example chosen is that of the company Stage Entertainment. In the first part of this paper we will provide a brief history of Stage Entertainment, single out two non-technological innovations and discuss how these innovations have affected the strategic behavious of Stage Entertainment. In the second part we will discuss both the horizontal and vertical processes Stage Entertainment is involved in and argue why one of these should be considered more important to Stage Entertainment’s overall sustainable competitive advantage. Stage Entertainment is the brainchild of the Dutch creative entrepreneur Joop van den Ende (born 1942). Stage Entertainment is the result of a merger of several other entertainment companies owned and run by Van den Ende and was incorporated in 1999. It has seen rapid international expansion and is now active in 9 countries, employing 4000 people. The turnover is €600 million (Nispen, M. van, Jaekele S. and Charrington, J, 2009). Van den Ende describes the strategy of Stage Entertainment as a strategy consisting of three elements (Nispen et al 2009): 1. Venues: programming and managing a network of venues across Europe (i.e. theatres) 2. Productions: presenting a wide range of existing...
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...needed, a firm loses precious time and possibly funds to be able to settle a dispute among the different business units with a conflict. This may result in the loss of competitive advantage and/or the loss of actual funds. 2. “Today’s challenge is to build transnational organizations that can sense an emerging consumer trend in one country, link it to a new technology or capability it has in another, develop a creative new product or service in a third, then diffuse that innovation rapidly around the world”. With this in mind, identify a company who has demonstrated this ability including a brief description of each step they took. Boeing is a perfect example of a company that was able to link technology and capabilities from national suppliers which they call “partners”, and to decentralize their manufacturing functionality to develop the new 747 dreamliner. Boeing first began by identifying key geographical “partners” that had the resources and functional capability to manufacture specific sections of the airplane. After doing so, they decentralized their manufacturing capability and handed the responsibility to these “partners”. Finally, what Boeing was left with was a strategically dispersed manufacturing plant across the globe. These “partners”, according to their resources and technological capabilities were delegated to manufacture a specific section of the airplane, and then all of the semi-manufactured parts were shipped to headquarters for final assembly and testing...
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...a meso-level with its relation to the company Boeing. Finally it discusses the various entrepreneurial decisions and their impact on the success and failures of the corporation. The approach has been reading relevant historical books, finding articles on the Internet and interpreting different views and opinions such as the theories of Schumpeter and Fligstein. The research shows that the American capitalism has changed towards a greater use of intervention that differs from the very laissez fare conditions that were dominating in the beginning of American capitalism, though it is still not comparable with the European conditions. The company Boeing is being subsidized by the government, which can be characterized as crony capitalism, since the cooperation between these organizations helped Boeing develop a monopoly in the market of aircraft manufacturing. The entrepreneurial decisions in corporate strategy and structure have led Boeing to both peaks and disappointments. Table of Contents Introduction 3 Phases of American capitalism 3 Characteristics of the American capitalism 4 The Corporation and the State 5 Globalization 6 The 1992 EU-US Agreement 7 The technological development 8 Analysis of the abovementioned development and its reflection on American capitalism 9 Boeing – the largest global aircraft manufacturer 9 The technological development 9 Globalization 11 Crony capitalism 11 Competition between Boeing and Airbus 12 Market formation...
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...Van’s Bookkeeping Marketing Plan 14376 S. Othello St. Seattle, WA 98118 Phone: 206-446-7890 Email: vanbookkeeping@gmail.com Web Site: www.vanbookkeeping.com Contact: Van Nguyen Table of Contents Executive Summary 4 Marketing Objectives 4 Goods or Services 4 Resources Needed 3 Projected Outcomes 3 Company Description 3 Strategic Focus and Plan 3 Mission/Vision 3 Goals 3 Core Competency 3 Situation Analysis 3 Internal Focus 3 External Focus 3 Industry Analysis/Trends 3 Competitor Analysis 3 Company Analysis 3 Customer Analysis 3 SWOT Analysis Summary 3 Market – Product Focus 3 Marketing and Product Objectives 3 Target Markets 3 Points of Difference 3 Positioning 3 Marketing Program 3 Product and Product Strategy 3 Price 3 Promotion 3 Place 3 Data and Projections 3 Sales Forecasting Methods Used 3 Sales Data 3 Costs 3 Financial Projections 3 Financial Information Systems Needs 3 Organization 3 Implementation Plan 3 People Required 3 Manufacturing, Financial and Other Resources Needed 3 Timing 3 Evaluation and Control 3 Marketing Information Systems Needed 3 Criterion Measures with Objectives 3 Appendix A: Biographical Sketches of Key Personnel 3 Appendix B: Support Material 3 Executive Summary Van’s Bookkeeping will provide dependable and quality services for payroll...
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...“Internet Technology, Marketing and Security” BUS 508 Contemporary Business May 27, 2012 Amazon.com is an American multinational commerce company that is heaquarted out of Seattle, Washington. It is considered to be the world’s largest online retailer. Amazon has separate retail websites for the United States, Canada, United Kingdom, Germany, France, Italy, Spain, Japan and China. They also have international shipping of its products to other countries. Throughout the 1990s, the popularity of the Internet and World Wide Web swept across the world, and personal computers in most businesses and households got hooked up in some form or another to Internet providers and Web browser software. As use of the Internet became more prevalent in society, companies began looking to the Web as a new avenue for commerce. Selling products over the Internet offered a variety of choices and opportunities. One of the pioneers of e-commerce was Jeff Bezos, founder of Amazon.com. In 1994, Bezos left his job as vice-president of the Wall Street firm D.E. Shaw, moved to Seattle, and began to work out a business plan for what would become Amazon.com. After reading a report that projected annual Web growth at 2,300 percent, Bezos drew up a list of 20 products that could be sold on the Internet. He narrowed the list to what he felt were the five most promising: compact discs, computer hardware, computer software, videos, and books. Bezos eventually decided that his venture would...
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...025-1065 The firm’s operational capability and innovation: Comparative studies of innovative firms from the south of Brazil. PAULO ANTÔNIO ZAWISLAK Graduate Center on Business Administration Management School Federal University of Rio Grande do Sul Rua Washington Luiz, 855, Porto Alegre, RS, 90.010-000, Brazil paz@ea.ufrgs.br ANTÔNIO DOMINGOS PADULA Graduate Center on Business Administration Management School Federal University of Rio Grande do Sul Rua Washington Luiz, 855, Porto Alegre, RS, 90.010-000, Brazil apadula@ea.ufrgs.br LÁZARO SUMBA QUIMI Graduate Center on Business Administration Management School Federal University of Rio Grande do Sul Rua Washington Luiz, 855, Porto Alegre, RS, 90.010-000, Brazil lsumba@hotmail.com CAROLINE PRATES Graduate Center on Business Administration Management School Federal University of Rio Grande do Sul Rua Washington Luiz, 855, Porto Alegre, RS, 90.010-000, Brazil carol.prates@ibest.com.br POMS 23rd Annual Conference Chicago, Illinois, U.S.A. April 20 to April 23, 2011 The firm’s operational capability and innovation: Comparative studies of innovative firms from the south of Brazil. Abstract: In emergent economies, firm’s innovation is often a survival issue. This research is focused on the operational capability concept and it is intended to explain, in a comprehensive way, how this capability matters and supports innovation. This paper analyzes firms, which working under standard technology...
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...the control of management. 3) The aim of an external audit is to develop an exhaustive list of every possible factor that could influence the business. 4) External audits attempt to identify key variables that offer actionable responses. 5) Five major categories of external variables are: 1) economic forces, 2) social and cultural forces, 3) political, governmental and legal forces, 4) technological forces and 5) demographic forces. 6) As many managers and employees as possible should be involved in the process of performing an external audit. 7) To perform an external audit, a company first must gather competitive intelligence and information about social, cultural, demographic, environmental, economic, political, legal, governmental and technological trends. 8) Freund argues that key external factors must not be hierarchical. 9) The I/O approach to competitive advantage advocates that internal factors are more important than external factors in a firm achieving competitive advantage. 10) An economic trend in America is the increasing numbers of two-income households. 11) Economic factors do not have much impact on the attractiveness of strategies. 12) An increase in interest rates is directly related to an increase in discretionary income and an increase in the demand for discretionary goods. 13) Motor vehicle firms in the United States are vulnerable when the value of the dollar falls. 14) A low value of the dollar means lower...
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...Blue Ocean Strategy Executive Summary The Harvard Business Review “Blue Ocean Strategy” by W. Chan Kim and Renee describes the “business universe” and its two “distinct kinds of space,” the red ocean and the blue ocean. The article explains how the market space if divided by these two oceans. The red ocean symbolizes the industries that are currently in present in the market. These industries serve as models for current competitors as well as future ones. On the other side, blue oceans are industries that are “not in existence today.” These industries are unknown and could be developed from red oceans or from completely new industries. The main difference between these two types of markets is the customer demand. Red oceans have fixed demand and competitors constantly compete against each other for consumers’ acceptance and attention. Blue oceans create a demand that did not existed before, generating greater opportunities for growth. Although the concept of red and blue oceans might be new for many, it has existed since the moment industries were created. In summary, red oceans are existing industries and blue oceans are unknown industries. When we look back, we realize that all industries that seem essential for daily tasks were once unknown. Long time ago, the pool of industries that conformed the red ocean was not as immense as it is today. As blue industries were introduced, the red ocean became larger. As of today, the Standard Industrial Classification (SIC) has been...
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...understanding of the internal and external environmental factors that will require reaching the long term goals of the company. Pepsi and Coca-Cola serve as prime examples of major competitors in the beverage industry and strive to be different although each company produces a similar product. With the popularity of these corporations at the zenith of existence, each needs to develop and maintain a competitive advantage that will yield results to their favor. For the purpose of gaining a competitive advantage measurement guidelines will need to be implemented to cultivate effective strategic planning and measure the effectiveness of each plan. The intention of this paper is to research and describe the internal and external to reach a company in order to describe the internal and external environments of each and develop an understanding of how each company uses environmental scanning. Furthermore, a discovery of competitive advantages will be uncovered by examining strategies, such as creation of value and sustain, measurement guidelines, and the effectiveness of the measurement guidelines used by each company Internal and External Environments The whole process can be seeing as beneficial knowledge for managers wishing to increase the long term efficiency and develop strategic plans for the business. An organization’s environment can be broken into two separate divisions. First, the internal environment, which is generally compiled of the factors or elements directly...
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