...analysis is the process of management identifying the internal and external factors that will affect the company’s future performance. It is a planning process in which financial and operational goals are set for the upcoming year and creating strategies to accomplish these goals. The following are the internal and external factors that affect McCain’s Fabulously Tasting Gourmet Food Truck. External forces Legal and Regulatory Strengths Weaknesses Opportunities Threats Trends The food truck follows all sanitary practices in compliance with food handling. And is consistently examined for cleanliness and clearly posted. There are always new laws and regulations in regard to food handling. The business must continue to stay abreast of new regulations. The Food Truck has an excellent reputation due to cleanliness and adhering to legal and regulatory requirements, thereby allowing growth If the Food Truck should not comply with a new regulatory requirement, the fine could be stiff and decrease profit and stakeholder’s investments. Trending will involve keeping abreast of legal and regulatory requirements and ensure the Food Truck is up to date with these trends. Economic Strengths Weaknesses Opportunities Threats Trends The food truck has a large collegiate customer base and therefore can develop economically Costs rising due to increase in food costs. The food truck location in the lively collegiate economy of Atlanta provides growth opportunities Legislature is...
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...BUS/475 Derek Webster January 23, 2012 SWOTT Analysis SWOT Analysis is an acronym to the internal strengths and weaknesses of a firm and the environmental opportunities and threats affecting them. Pearce and Robinson (2009). This type of analysis is used to analyze and evaluate an organizations current situation and environment. An internal and external analysis was performed on Super Diva Kid Spa, a proposed business venture. The analysis will cover critical areas essential for the growth and development of Super Diva. In the following synopsis, several internal and external forces will be discussed. Those forces include goals, resources, competitive analysis, economy, environment, legal and regulatory and culture. Additionally, major issues and opportunities Super Diva face will be included in this paper. Circumstances surround each issue will also be addressed. Goals When starting up a business, setting goals are essential to the growth and well-being of the company. Goals are internal strengths and forces that are observable and measure results. Goals can be described as short-term or long-term. Short-term goals are detailed, assessable and time specific. These types of goals involve a direct mission and are fulfilled in a short time frame. Long-term goals are those goals that take place in the future or within a timeline usually three to five years down the line or maybe longer. The short-term goals for Super Diva are to offer clients...
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...BusinessWeek http://www.businessweek.com/magazine/content/11_17/b4225021233719.htm By Ronald Grover, Stephanie Wong, and Wendy Leung April 14, 2011 In 2005, Disney opened Hong Kong Disneyland. In 2011, Disney opened a Disney Resort in Shanghai. In both situations sociocultural forces took a tool on how Disney was to do business. The opening of Hong Kong Disneyland was a huge eye-opener of Disney. The quickly realized their mistake by not considering the cultural of the surrounding area. They aimed the vacation spot at the typical Orlando vacationer. Disney also underestimated how many visitors would show up and how long they would linger. The result was devastating. There was inadequate seating and food supply to satisfy the average family and culture. There were too few rides. This resulted in drones of crowds being turned away and a lost of over $92 million. The small Hong Kong Disneyland was an experiment to see if smaller parks would work, and it did not. Disney took that experiment and did an analysis before the opening of its’ Shanghai Disneyland Resort. Chinese nationals were added to the “Imagineering” team to help develop a sociocultural friendly park. The location in Shanghai is within a three-hour’s drive of 300 million people. They took that data and projected that the growing Chinese middle class would spend $200 billion annually on leisure travel in 2015. Thus Shanghai’s resort was built about 50 percent larger than the Hong Kong’s resort. To display that they...
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...Geography “Geography is the science that studies the relationships among natural systems, geographic areas, society, culture activities, and the independence of all of these over space.” (Christopherson, 2010, p. 4) Over time there have been two attempts that have influenced the basic understanding of geographic information, which allows us to gain additional and improved knowledge as well as appreciation for environmental changes and the different cultures around the world. These attempts are The Four Traditions of Geography and The Five Themes of Geography. Four Traditions of Pattison The four traditions consist of the spatial tradition, area tradition, man-land tradition and earth science tradition. Spatial Tradition is an “academic tradition in modern Geography that investigates geographic phenomena from a strictly spatial perspective” (Pidwirny, 2006). Spatial Tradition focuses on the mapping, positioning, direction, and distance, the characteristics of the form and movement related to these aspects or the distribution of phenomena. Area Studies Tradition is “an academic tradition in modern Geography that investigates an area on the Earth from a geographic perspective at either the local, regional, or global scale” (Pidwirny, 2006). This is the descriptions of different areas or regions. The nature of these areas or regions and how they are different from one another. Man-Land Tradition is “an academic tradition in modern Geography that investigates human...
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...of Five Star was the international expansion of Best Buy and how it would be handled while expanding into China. In 2002, Best Buy had acquired 100% ownership of the largest Canadian CE chain retailer, Future Shops, in their beginnings of international expansion. Senior vice president, John Noble, was at the head of the Best Buy International and steered the company to implement a dual-brand strategy in launching Best Buy into Canada. What this means by dual-branding was that even though the two retailer were owned and operated by the same mother company, they went into a head-to-head competition as separate entities of the single companies. This was the first of this strategy that Best Buy had ever implemented and it was deemed to fail because the company was not used to this type of operation. But within the first year of full competition between the two brands, upper management had seen this tactic become very successful. In the decision of how to approach this situation there was much controversy on how this would be handled. There was always the option of Best Buy to completely absorb the Future Shop brand and transform all the already established stores to Best Buy locations. Within the short run, this would look like the most financially intelligent decision of the company, but with further investigation, there would be a large “cultural shock” to the employees and consumers by implementing a new...
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...MGT 445 August 30, 2011 Miami School District Negotiation When children move to a new school, it not only affects the children. It affects their families, the community, and the school. The school boundaries in Miami must be redrawn to concentrate on overcrowding. Experts are choosing and evaluating these boundaries. The affected stakeholders are experiencing concerns. One must first identify the stakeholders and their concerns before he or she can establish each of the concerns. Choosing a strategy for negotiation and reviewing the ethics and culture effects will ensure that the negotiation approach is applicable for the circumstances. In this paper the subject to analyze is a negotiation strategy that favors the board’s requirement to redraw school boundaries, identification of the stakeholders and how culture, and ethics affect the strategy. Stakeholders To originate an efficient negotiation strategy, one must identify the stakeholders and stakeholders concerns. The stakeholders in the Miami School District project are the students, parents, teachers, and school staff, and the community. The students are primary stakeholders because students who change schools will encounter a new teachers, campus, and classmates. Students will depart from the comfort of familiarity. The parents will experience the effects of a new environment for their children, and a different location of the new school. Teachers and staff will experience class sizes caused by the redistribution of...
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...kinds, and they are creative and flexible. Each hotel’s interior, exterior and menu reflect the local culture and define the local philosophy. Rosewood growth strategy: 1. Re-launch and re-position an existing luxury hotel which has a strong brand name by providing professional management 2. Help developers build luxury hotel and create brand equity in the property. Brand Rosewood is never marketed, and is not popular in market. Many customers don’t know the name rosewood some knew through the travel agent. Individual property was stressed not the brand name. Rosewood always marketed the hotel by the property name. Rosewood’s management has been considering new branding strategy. Instead of branding hotels locally, rosewood is considering to go with corporate branding with all its hotels. From the data analysis 40% of the customers enjoyed return visit but only 5% stayed in more than one of Rosewood’s properties. By branding Rosewood ought to improve cross property usage and build a strong brand name among customers. 2. DEFINE THE BRANDING OPTIONS AND DISCUSS THE NONFINANCIAL PROS/CONS OF EACH. ADDRESS THE PROS AND CONS AND HOW YOU WILL DEAL WITH THEM. Rosewood has two branding options: 1. Individual Branding 2. Corporate Branding Individual Branding: Pros: * Hotels are unique and represent local culture. * Has loyal customers per location * Hotels are managed locally, not at corporate level * Individual hotel is responsible for its...
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...continue its strong culture. Tanglewood must differentiate themselves from their competition; companies like Target and Kohl’s. Tangelwood can accomplish this by having the best staff that delivers a positive experience their customers, thus, making their store standout from their competitors. These strategies will help maintain a positive work atmosphere and build a strong relationship among employees, which will lead to successful job performances. Hiring or retain overstaff or understaffed, and external or internal hiring: As we look at these three decisions for the staffing levels, hire or retain, over staffed or understaffed, and external or internal hiring method we will see that Tanglewood Company is over-staffed. The mangers are cooperative with the employees’ suggestions regarding the company's operations, which need to be decreased. By decreasing employees and increasing the responsibility; staffing and training of departments will make the working environment stronger, and job performance to be improved saving both time and money for the company. Tanglewood should focus on retaining their employees and improving their expertise and skills rather than hiring new ones and develop a more flexible work place. Looking at Tanglewood’s culture and values we find that all employees do well in the family atmosphere, hiring external could affect this strategy. Employees coming from a different culture or with other perspective values will affect the positive family...
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...strategic plan. SWOTT is an acronym for Strengths, Weaknesses, Opportunities, Threats, and Trends that face a company. Managers can use this tool as a technique in creating a quick overview of their company’s strategic situation. Pearce & Robinson (2009) states,” It is based on the assumption that an effective strategy derives from a sound “fit” between a firm’s internal resources (strengths and weaknesses) and its external situation (opportunities and threats).” This paper will analyze some external and internal forces and trends that could affect a new TruHealth Restaurant and Bakery. This will be determined from a created SWOTT table provided below. Each discussed force and trend will include one primary strength, weakness, opportunity, threat, and trend included in the table. The paper will also analyze at least seven forces and trends and how they pertain to TruHealth. Last the paper will discuss technology and competitive analysis, how TruHealth’s adapts to change, supply chain operations, and any significant issues and/or opportunities for this company. SWOTT ANALYSIS TABLE Factors |Strength |Weakness |Opportunity |Threat |Trend |External Factors | |Legal and Regulatory | Open and effective |Limited knowledge on |Gaining extensive |Violations of regulations |Laws are become more |knowledge of current regulations and laws |strict...
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...“Location, location, location.” This phrase was coined by Lord Harold Samuel, in 1987 (Who conined). Although this phrase was referring to how important location is to real estate, this phrase is often used in business. The physical location is a key factor in determining whether a business will succeed, or fail. A few questions potential business owners have to answer are: Is location important for the success of my business, and what type of location is best for my business? Many business owners have to contemplate whether, or not, going overseas is the best fit for the product, or service, they plan on providing. When embarking into new territory, there is much uncertainty, and there are many risks associated. Before developing a presence in an international market, business owners must understand the culture, customs, and the risks related with the foreign market. There are many factors that can affect location decisions. However, selecting a location is becoming more challenging due to the increase in globalization in the workplace. Many firms consider embarking in business ventures outside their home country. Location decisions are not just within national borders, but surpass over international borders. There are key factors in achieving competitive advantage in foreign markets. Some key factors that should be considered before engaging in international business are: • Political risks and values • Economic issues: exchange rates and currency risks • Cultural issues ...
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...In a short biography about the Hmong culture, they originally dominated the country of China; however, they were overtaken by other Asian groups (Split Horn). Some Hmong people were enslaved, while majority of the Hmong individuals scattered throughout the world. Hmong families and relatives strayed away from populated areas, and decided to escape to Thailand. With the separation of the Hmong population, Hmong relatives mainly mobilized to Laos or deep into the mountains in Thailand. The estimated Hmong population during that time was 300,000 to 400,000 people (Split Horn). When the Vietnam War began, several Hmong people decided to find different locations to live in, while other Hmong individuals contributed to fight along with the United...
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...Behavior during the spring semester at Touro University International. COVERAGE: I will use background information, combined with outside research to strengthen this paper. I will begin by identifying at least three specific ways that cultural differences would affect doing business internationally. Next, I will discuss some specific skills that global managers need to address the cultural differences. I will then discuss my views regarding expatriate and foreign-national managers by stating the reasons why a combination of managers is the most effective way to deal with these challenges. Finally, I will conclude with a brief summary that highlights the key points made throughout the paper. DISCUSSION: Many foreign markets are considered an untapped resource. The potential for growth in these markets is very high; however the potential can not be fulfilled without strong human resource applications, effective organizational structure, and efficient cultural understanding. The company’s corporate culture has to be modified to take cultural differences into consideration. The ability to evolve the organization by enveloping these cultural differences into the corporate culture can severely affect an organization’s success in the global marketplace. In the following paragraphs, I will discuss some organizational...
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...The International Environment Fedorenko Danil 21.02.2013 Introduction Many of the techniques used in Operations Management are essential for the international business consultant. These tools allow consultants to advise companies on selecting the best locations for their facilities, determining the most efficient balance of employees to comprise their global workforce, customizing products to satisfy specific local needs, maximizing the efficiency of the global supply chain, and determining the necessary capacity of local operations. In order to use these tools in a multinational context the operations manager must have a solid grasp on global issues. He or she must be familiar with the firm's overall international strategy and the reasoning that went into developing it. He or she must be must familiar with the critical success factors involved in selecting site locations, the process by which an international corporate strategy is formed, and the changes in the organization that will need to take place in order to implement it. Without a grasp of these concepts the operations manager will not be able to use the tools of operations management to help his or her firm establish a presence in new markets. How OM Techniques can help International Consultants to become better Managers The operations aspect of international consulting should start with a SWOT analysis, an examination of Strengths, Weaknesses, Opportunities, and Threats. The analysis should be done on...
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...world of negotiations there is no one decision that does not affect the lives of others in some way. Some groups of people may believe that our decisions are interdependent on each other. In a negotiation there never may be a best outcome for just one person, but if each side of the negotiation puts their best efforts forward then the entire process is usually always better for both sides because each side can usually succeed in getting more if they work together. Many cultures such as the Chinese culture believe in working together so that both sides of the negotiations more of what they need. According to Jehn, K. & Weigelt, K. this belief is not new, but just the method of how it is applied is new. Game theory is the process where each party in the process attempts to maximize their outcome with highest payoffs possible. Each side also accepts the situation that are at with their resistance points and each side plays by the known rules and that there is a level of trust between the two in that each side is offering the best that they can offer,(oregonstate.edu). The part of the process that is not new is how the Chinese have an emphasis on how they should know the situation that they are going in to. In other words it’s best to prepare because it is those that prepare by not only knowing how they will act but also how will the other side will act. The issue is that if you know only how you will act then you are taking a gamble that things will go...
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...Wilson Introduction: U.S. Bancorp was founded in 1863 and is the 5th largest commercial bank in the United States, whose current chairman, CEO and President is Richard Davis. U.S. Bancorp is located in 25 states and has 60,000 employees with 3,085 bank branches, 5,053 ATMs, and 17.5 million customers. U.S. Bancorp is a publically traded corporation on the New York Stock Exchange its ticker symbol is USB. Unlike many other banks U.S. Bancorp did not suffer during the economic downturn, and was one of a few banks that did not need a TARP loan. U.S. Bancorp prides itself and is committed to providing service that meets the demands of their customer, and high quality and innovative products. Some products offered at U.S. Bancorp include checking and savings accounts, credit cards, loans, and online banking. According to The Keynote Systems survey U.S. Bancorp is ranked #1 in online overall customer experience; Fortune named U.S. Bancorp #1 most admired superregional bank. For the past six years in January U.S. Bancorp has had an all employee event where employees learn about previous year’s performance, as well as learn about new employee benefits, initiatives, and are celebrated for continued customer service scores. At the employee event U.S. Bancorp introduced MobileMerchant, which allows small business to accept payments quickly, and securely from anywhere, anytime and is due to launch at full production in March 2012. This event also provides employees the opportunity to network...
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