...Business ethics refers to those values, standards and principles that operate within business (McGraw-Hill Irwin). Business ethics can also be defined as written and unwritten codes of principles and values that govern decisions and actions within a company. In the business world, the company’s culture sets standards for determining the difference between good and bad decision making and behavior. In today's modern business world, the road to success requires more than merely technical skills, practical knowledge and a good product. Business ethics, above all, are the guiding forces to achieve and sustain success. The questions today are less about why or should ethics be a part of business, than about which ethics should guide business decisions and how ethics can be integrated within business. Code of ethics in a company provides the basis of a fair treatment of all employees that mutually trust each other and that respect human rights and equal opportunity whilst maximizing its talent, capability and performance, which is essential in regard to its reputation and its brands, and ultimately, in regard to continuing business success with the company’s valued customers. If a company wants to do well in business, then it needs to have good partners. The only way to get good partners is to have a good reputation both in terms of a track record and in terms of its business overall. And of course, the best way to get a good reputation is to ensure that the company has a strong tradition...
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...impact in the service industry, high quality products and performance are a top priority for any company. By implementing total quality management systems, businesses are seeking to improve the effectiveness of their performance. “Six Sigma is a process created to eliminate or reduce variations in the operation process”(Jacobs & Chase 301), often used in manufacturing industries. Through Starwood Hotels and Resorts, one of the top companies in the hospitality industry, Six Sigma has expanded to an industry that provides customer service as product. This paper seeks to explore how Starwood Hotel and Resorts, in specifically Westin brand has implement Six Sigma into their operations by identifying the procedures and the impact on their performance in Westin’s practices. Starwood Hotels and Resorts (HOT) is an American company founded in 1969 and formed as a corporation in 1980. As of December 2012 this corporation owned, managed, or franchised 1,162 properties under nine different brands, and reported $5.62 billion in revenue for 2011 and $6.32 billion for 2012. Westin Hotels and Resorts is the largest and oldest brand in Starwood Corporation, with more than 185 properties around the world. (Starwood Hotels and Resorts Worldwide- Westin) In 1986 Motorola created a system with the purpose to improve the effectiveness of their performance; it was named Six-Sigma. This quality technique uses statistical methods and quality management strategies. Six Sigma’s problem solving approach...
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...describe why you think so. Also identify specific marketing strategies used by the company that seem to contribute to its success. Also identify a company that has a poor customer orientation (perhaps a local firm with which you have had experience) and describe what marketing strategies contribute to that state. What are the consequences of this?Offer suggestions on how to improve the customer service of the company using different concepts from the text material. From my perspective, Apple has a strong customer orientation because it meets it does whatever it takes to meet its customers’ needs and. I decided to write about Apple and the changes that it has made over the years and how will survive without Steve Jobs. After Apple lost Steve Jobs the stock fell many people questioned the future of this company; how could this organization survive without its founder, its creative foundation, its perfectionist. The challenges for the new CEO, Tim Cook, is keeping innovation image and fulfill the customers expectation in order to maintain the original culture values. Because continue the current culture can ensure the profitability and successful of the company. Steve Jobs’ always worked as the main character involved in the whole culture at Apple, and it is a challenge for Apple to adopt this major loss and realizing a new era. After Steve Jobs, the basic value of culture will not have major change, but Apple will need to maintain the organizations stronghold on creativity...
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...Employing Strategy in a Competitive Environment Edwin Janney Anthony Muscia Strategic Management (BUS 599) 11/02/2012 Create an environmental scan for the company indicating the most significant environmental threats and discuss how the company should respond to each threat to ensure that the impact to the business is minimal. In the first assignment titled “Crafting and Executing Strategy”, we learnt that Janntech Enterprises International, a US based manufacturer and distributer of “Mandingo Bitters”, an energy boost and sexual stimulation and enhancement drink, generated out of ‘The Alafia Tree Trunk and Roots’ originally from Africa, is a company with a vision of occupying a clear, unique and advantageous position in the consumer’s mind as an effort to influence the consumers perspective of its brand, and to retain customer loyalty to gain market dominance. In creating an environmental scan for Janntech Enterprises, the company focused on trends in the nutraceutical soft drinks industry as a whole, and the impact of events in the current political and economic climate in the country, particularly the possible outcome of the current elections in the US. Regardless of the political climate in the country and the state of the economy, the threat of competition, especially new entrants into the market, and the introduction of newer products targeting the female segments of the target market, the outcome of which is stiffer competition, price concessions...
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...Business Proposal for Johnson and Johnson ECOX/561 October 7, 2013 Karen Yancey Business Proposal for Johnson and Johnson Johnson and Johnson is a multinational medical devices, pharmaceutical, and consumer packaged goods company founded in 1886 by three brothers: Robert Wood Johnson, James Wood Johnson, and Edward Mead Johnson (Johnson and Johnson , 2013). In this business proposal the focus will be on consumer packaged goods for Johnson and Johnson. A discussion of whether Johnson and Johnson is elastic or inelastic, and whether the company is a price taker or price setter. Also in the business proposal, a discussion of barriers to entry, how the company maximizes profits and how the company differentiates itself from other competitor and non-price strategies will be discussed. Market Structure Johnson and Johnson have three distinct segments: consumer packaged products, medical, and pharmaceutical. Johnson and Johnson market structure is oligopolistic. The segment of pharmaceutical is dominated by three major competitors such as Merck, Pfizer, and Novartis. Consumer packaged goods is dominated by Procter and Gamble and Novartis for health care goods such as oral B, pampers, and hair care. Baby products are dominated by Gerber Products and Nestle. Is John and Johnson Elastic or Inelastic Johnson and Johnson is an elastic company because it will be affected by changes in the market such as demand for its products and...
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...MORALES, Marc Russel M. BSBA-MM II-C MM100 – Fundamentals of Marketing Management MABEZA, RYAN MARVIN Nordstrom’s Case Analysis Companies are everywhere. Competition in a global business world are in left and right scenarios. So companies must find the right ingredient for them to be successful. Creating loyal customers is at the heart of every business. Improving efficiency in connecting to customers, building customer satisfaction, customer value and loyalty leads to improved and better business results. Marketing experts Don Peppers and Martha Rogers say, “The only value your company will ever create is the value that comes from customers—the ones you have now and the ones you will have in the future. Businesses succeed by getting, keeping, and growing customers. Customers are the only reason you build factories, hire employees, schedule meetings, lay fiber-optic lines, or engage in any business activity. Without customers, you don’t have a business.” Companies must establish and maintain a high customer value for their products and services because consumers use customer value to make buying decisions. You make buying decisions in day-to-day life experiences. For example in buying for a bottled water drink. Should you buy the wilkins worth P15 or the evian water worth P65? In every buying decision, a consumer asks the same question: 'is what I am going to receive worth what I have to give up in order to get it?' The gain the consumer receives for the benefit is...
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...the term in his teaching in the late 1940's after James Culliton had described the marketing manager as a "mixer of ingredients". The ingredients in Borden's marketing mix included product planning, pricing, branding, distribution channels, personal selling, advertising, promotions, packaging, display, servicing, physical handling, and fact finding and analysis. E. Jerome McCarthy later grouped these ingredients into the four categories that today are known as the 4 P's of marketing. The marketing mix model can be used to help you decide how to take a new offer to market. It can also be used to test your existing marketing strategy. Whether you are considering a new or existing offer, the steps below help you define and improve your marketing mix. Marketing decisions generally fall into the following four controllable categories: * Product * Price * Place (distribution) * Promotion These four P's are the parameters that the marketing manager can control, subject to the internal and external constraints of the marketing environment. . The goal is to make decisions that center the four P's on the customers in the target market in order to create perceived value and generate a positive response. Every company is seeking to provide consumers with goods or services that meet their needs in a quality, price...
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...the current propositions by the group. I. Recap, amendments and strategies Brief recap of ‘TRAILZON’ Amazon is an American electronic commerce company and it is one of the biggest online shopping retailers operating in over 14 countries all over the world (Barney, 2011). According to Cowen (2015), the garment and accessories sales occupied about seventy percent of the total income in Amazon in 2015. Thus, TRAILZON - Virtual fitting room was put forward to benefit more from the garment and strategies were made in order to achieve marketing target. TRAILZON is an online shopping app which enables users to fit clothes virtually. The target market of TRAILZON includes fashion brands, online shops and mobile users in the UK. TRAILZON will make profit by selling TRAILZON to fashion brands, sharing profits with application stores and selling clothes directly to customers so all retailing is virtual. As to the promotion, creative advertising will show on social media to make target market aware of this application. Besides, Amazon registered users will achieve relevant advertisement by calls, emails or texts. Also occasional discounts will attract new users and good customer service will ensure consumers’ satisfaction of the app. Strategies for TRAILZON above are made by the group and the strategies include retailing, sales management and internet marketing. However, the strategies are not...
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...Introduction Coca- Cola Company is the world leading manufacturer, distributor, and marketer of soft drinks. It was established after Coca-Cola invention on May 1886 by Dr. Pemberton. This company manufactures about 4000 products and 400 brands using tea, coffee, water, energy drinks, juices and much more. The company’s corporate center of operations is in Atlanta with local operations in more than 200 countries around the world. Only 30 percent of its income comes from within the United States with estimated brand equity of 84 billion dollars relating to more than 50 market share of the global beverage industry. In early 20th century, the company expanded rapidly into some European countries. Major and swift growth worldwide took place after the Second World War II. The African market is targeted the most because of its potential economic growth. The American, European and Asian markets utilized fully that’s why must interest is in African nations because they are undergoing urbanization thus make it easy for this company to distribute its products. Also, the middle-class population is on the rise in Africa hence willing to buy more and more due to increasing income. Coca-Cola Company Organizational Structure The organization structure is so flexible that it can meet both local and global needs. Corporate segment is at the top of the structure; it provides support and directions concerning the formulation of new strategic decisions. It is made up of twelve executive committee members, and...
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...in better direction. However, choosing the right problems that have the most opportunities will help Global communication to stay competitive in the telecommunication industries. The main issue and opportunities in Global communication is their competitors and the stock price dropping. Management does not have better relationship with the Union members, employees, and stakeholders who are the backbone of the company. In this paper the subject is the communication problem facing Global Communication, and will figure the opportunities and issues. With the best alternative and an optimal solution was provided with this issues, Global communication will use the model of making decision and solving problem skill. This paper will also present how changes will be adopted in the company. Global Communication will develop effective plans, and this plan will focus what needs to be changed in the company for better communication. Issue and Opportunity Identification Global Communication is under pressure because of their stock price had been dropped the company is facing challenges from many competitors in the communication...
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... | |Format/Style/ Grammar/Punctuation/Spelling (20%) |1.0 |.8 | |Total (100%) |5.0 |4.8 | Your content in this paper is very good, but you should review the use of citations and how to match them to the reference listing. You must list the scenario as a reference so you may cite it appropriately. Please use the proper naming convention for assignments attached to your post (the file name, not the subject). Business Recommendations for Big Drive Auto Big Drive Auto is a dealer of several manufacturers' cars and trucks, in several states. Citation?Several business recommendations have been made to ensure success of Big Drive Auto. The recommendations include pricing strategy, non price barriers and product differentiation. These recommendations must be implemented over the next five years to make Big Drive Auto a bigger, more successful company. Price Strategy Big Drive Auto has been keeping records on how much goods they have been selling and at what price. As useful as this data is for Big Drive Auto, it will not be enough to help the company make the next step towards sustainable success. In order for this company...
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...activities to improve customer loyalty. Indeed, the benefits associated with customer loyalty are widely recognised within business. It is known that long-term customers are more likely to expand their relationship within the product range and so the rewards from this group are long term and cumulative. Another widely perceived benefit is that repeat or behaviourally loyal customers are also thought to act as information channels, informally linking networks of friends, relatives and other potential customers to the organisation. Much academic literature has sought to define customer loyalty and many of these reviews are discussed within this paper. However, consensus points to customer loyalty being characterised by the customer’s preference to purchase a product, service or from an organisation consistently when the need arises to purchase. The key issues of this characterisation are preference and consistency. The Discussion of Consumern Loyalty The most widely accepted definition of loyalty is by Jacoby and Kyner (1973), who describe loyalty as the biased, behavioural response, expressed over time, by some decision making unit, with respect to one or more alternative brands out of a set of such brands, and is a function of psychological processes. At a very general level, loyalty is something that consumers may exhibit to brands, services, stores, product categories, and activities (Mark, 2003). Loyalty is a feature of people, rather than something inherent in brand (David,...
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...United States. Knight had the idea to sell a low cost shoe with a very high quality, with high aspirations of taking Adidas out of the top spot in the athletic shoe market. In 1964, Bill Bowerman decided to join Knight as a partner at BRS to create a joint quest to be number one. Bowerman redesigned the Tiger shoes while Knight acted as the accountant/personal seller and the two went on the road to sell their newly crafted sneakers at track meets and local shoe stores. By 1966, Blue Ribbon Sports opened its first store in Oregon, which is where Nike is still currently headquartered. Knight and Bowerman managed the store with the only one employee, Jeff Johnson. By 1972 BRS was able to subcontract its own shoe line and began selling Nike Brand shoes. Over the next decade Nike...
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...Kudler Fine Foods Marketing Research University of Phoenix Christy Holley Kudler Fine Foods Marketing Research Kudler Fine Foods, a gourmet grocery store, needs to expand its services, improve operations efficiency and increase its consumer purchase cycle due to its recent significant growth. Marketing research in developing Kudler’s marketing strategy and tactics is important. Areas where marketing research is needed and other issues affecting such research at Kudler’s include advertising methods, consumer buying behaviors and demographics, funding, branding strategies and competition aspects. Knowing Kudler’s competition and the competitive environment is essential to their marketing strategy and methods of how Kudler should gather and analyze information about their competition will be reviewed. Importance of marketing research Marketing research is important for Kudler Fine Foods to have a successful marketing strategy and for the company to remain strategically successful in the grocery store market. Research helps determine what demographical audience is appropriate for its products. Finding the right target market is essential in developing a company’s strategic and marketing plans, especially for a gourmet grocery store like Kudler’s. Research will be the backbone that makes those plans grow. Market research will also let Kudler know who its direct competitors are and what advantages the company may have over them. Whole Foods, Trader Joes, small...
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...Gimbal CONTEXT AWARE PLATFORM MOHHAMAD JUNAID ASHARAF | GAURAV VASANI | MOHAMMED SAALIK NAWAB | UDIT DIXIT CONTENTS Executive Summary ........................................................................................................ 4 Market Summary ............................................................................................................. 7 Target Market .............................................................................................................. 7 SWOT Analysis ............................................................................................................... 9 Strength ..................................................................................................................... 10 Interaction .............................................................................................................. 10 Content Feed ......................................................................................................... 10 Bluetooth Proximity Beacons ................................................................................. 10 Analytics ................................................................................................................. 11 Checkout option ..................................................................................................... 11 Opportunity ................................................................................................................ 11 Application...
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