...Service sector is that part of the economy, which produces intangible goods. Intangible goods may include transportation services, telecommunication sector, information sector, professional services, technical services and healthcare. Banking services in an economy are also considered to be intangible, and thus, banks are included in the service sector. The employees of service sector produce services as oppose to goods. Such services may include house cleaning jobs, preparation of taxes, tour guides, nursing, psychotherapy and teaching (McManus, 2009). Importance of service sector, with respect to three writers Service sector plays an important role in the development and growth of an economy. This is the reason many writers have emphasized organizations to develop their service offerings. Organizations can develop their service offerings by producing and distributing their products or services. Organizations can also invest in advertising to market their products and services more effectively. Services play an important role in the economic growth of regional and national economies. Organizations need to have a backward and forward linkage with their products, to decrease their costs, enter in the service sector and to account for the complete role of the service industry (Kay, Pratt & Warner, 2007). Decades ago, agriculture industry used to be the only industry which contributed to the GDP growth of an economy. Now, times have changed. Service sector is equally important like...
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...the largest airline globally with regard to passengers internationally, but not in terms of profits. A significant growth has continued since its inception Ryanair, which was approved by the European aviation industry liberalization in 1997 for him. The Stansted Airport in London his main base but the headquarters of the company are located in Ireland at Dublin Airport. In the year 2009, The Michael O'Leary leader of the body began to provide technology for mobile phones in their plane. This allows passengers to use their phones on airplanes, but at higher cost. Ryanair has tried to buy Aer Lingus twice, in 2006 and 2008, but failed both times. This paper discusses the Ryanair's sustainability strategy and how it impacted the company in the near-term future. Ryan air's Current Strategy The purpose of Ryan Air is to establish itself as the leading low-fare airline in Europe, willing to travel by improving and strengthening the offers by starting its low fares services. Ryanair aims to offer preferential tariffs to develop expanded traffic, while at the same time maintaining the relentless focus on cost containment and operational efficiency. Ryanair offers cornerstone of a sense, therefore, the elimination of the smallest of all obligations of the host of tourist services to Ryanair, despite the tariff. Ryanair fares cornerstone of demand for air travel are in question and quotation on the amount of time the appointed day, the outcome of air travel, is attributed to a higher...
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...Competition among today’s organizations has become immense and is getting tougher and tougher day by day, since more new companies are starting businesses in the same industry. Whether they are from the manufacturing sector or service sector, the need for cutting the unnecessary costs, achieving maximum efficiency, and implementing operations management strategies is increasing (Shaikh, 2009). To serve the different needs and expectation of various customers effectively, it is necessary to implement effective operational approaches, which enable the organization to meet the standards of particular industry. There are various operational approaches for a service and manufacturing organization, which are necessary for increasing the productivity and efficiency of the organization. I have chosen customer relationship management as an operational approach for service organization and supply chain management for manufacturing organization. Operational Approaches Customer relationship management is used to handle the organizations relationship with customers and also assists the front office business processes such as marketing, sales and service. Each contact with the customer is added to the contact history of the customer, which can be used later by the employees to analyze information from the customer's database. Enterprise service management is the most important approach used by service organization to achieve competitive advantage in the service industry. It aligns the whole organizational...
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...Case 1: The impact of online shopping on shopping centres in Australia How would you define the industry? Is the industry global? Is the organization Australian or overseas based? 1. The article is about the retail industry and in particular the Australian shopping centre industry. Are you able to identify the stage of the industry life-cycle? The Australia retail industry is moving from maturity stage to the shake-out stage. Sales decline by 0.3% per annum over the past 5 years, showing a possible decline of growth and profitability. Buyers are given broader product range from online retailers, thus become more knowledgeable and have greater power than before. What have been the remote environment trends that have driven the industry to its current state? Are these forces changing? What will be their impact on the future growth of the industry? |Factor |What are the likely issues that have impacted and will impact on the industry? |Impact on growth | | | |+ / = / - | |Political | | | |Economic | | | |Social | ...
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...to strategy The rational approach(有时间顺序)eg. The evolutionary approach The essential purpose of this approach is to assess the organization and its environment, achieve a fit between the two and, on the basis of this analysis, forecast and plan for the future. To maximize profit, organizations should position themselves in the markets to which they are best suited. The example of rational approach is five forces (offers leaders a clear and precise methodology for analyzing an organisation’s industry environment to determine its profitability, and a choice of strategy for optimizing performance in these envirments) This is diagnostic tool. Core assumptions are that the environment and the organization are knowable and definable, and that managers can analyze their industry and match their organization’s strategy accordingly. This model emphasis the role of leaders an d managers in creating and driving strategy and change. The processual approach(无序的,entangled)eg, the systemic approach, fuzzy approach. Strategy is sometimes constructed to make sense of what was happened, as much as it orchestrates what will happen. Distinguish between these tow approaches 1) The processualists, focus more on the competencies of organization in a concern to build the requisite internal skills and resources. The rational approach concern to position the organization in the market to which it is best suited, have a more external focus. 2) The rational approach argues that managers are in control...
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...strategies to achieve maximum product awareness and make their product or service in the top of any industry to achieve revenues needed to make an organization reach maximum profits. The industry the organization is part of plays an important role too, because depending on the market saturation or not, makes the organization creates a larger plan causing to spend more than in other industries adding additional costs to the final product or service. The marketing mix describes the combination of the four inputs which constitute the core of an organization’s marketing system (Stanton, William J.) Organizations use the elements of the marketing mix (product, place, price, and promotion) to outline the marketing plan, goals, and strategy to follow. The marketing mix is the instrument to reach the marketing goals. The marketing mix are interrelated, because of the decisions taken in one area usually affects the other. The product mix is the actual article or substance, is the first element. The product must satisfy consumer needs. It includes the physical product, services, branding, packaging, planning and developing the right products, modification and innovations. The price is the actual amount the organization sells their final product or services which affects the volume of sales. It includes pricing objectives and policies, price fixation, discount policy, concession policy, profit margin, terms of payment, and credit policies the organization creates to collect sales. ...
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...1.0 Introduction Hospitality as an industry is very broad and ranges from multi-national corporations to single-person enterprises. The hospitality industry in Australia is responsible for over 80 different types of jobs. The various sectors in Australia’s hospitality sector include tourist services, events, travel services, visitor attractions, bars pubs and night clubs, membership clubs, holiday parks and gambling. The country’s hospitality industry has over 13,000 different firms providing more than 400,000 job opportunities to the country’s citizens. The hospitality industry in Australia contributed a total of 2.8% of the country’s GDP in 2013, and the sector employs 3.5% of the total workforce in the country. Tourism, a major sub-sector in Australia’s hospitality industry is made up of both foreign and domestic tourists. Foreign tourists account for 30% of the country’s tourists while the remaining 70% is usually covered by local tourists. 2.0 Market structure Australia’s hospitality industry operates under a monopolistic type of competition. Under monopolistic competition, there are usually many firms offering the same products to consumers. The services and products from firms in a monopolistic competition are usually differentiated to create a competitive edge (CHON & MAIER, 2010, p. 14). Monopolistic competition is different from perfect competition because, goods and services from firms in a monopolistic competition are not usually the same, a case that is the opposite...
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...can be used for service and manufacturing organizations. It discusses the important operational approaches like Customer Relationship Management (CRM), Enterprise Service Management (ESM), Supply chain Management (SCM) and Decision Making Framework (DMF).\ To serve the different needs and expectation of various customers effectively, it is necessary to implement effective operational approaches, which enable the organization to meet the standards of particular industry. There are various operational approaches for a service and manufacturing organization, which are necessary for increasing the productivity and efficiency of the organization. I have chosen consumer relationship management as an operational approach for service organization and supply chain management for manufacturing organization. Operational Consumer relationship management: It is used to handle relationship with customers and assists the front office business processes such as marketing, sales and service. Each contact with the customer is added to the contact history of the customer, which can be used later by the employees to analyze information from the customer's database. This CRM practices the data of customer for a number of purposes such as to manage different campaigns, sales force automation and marketing automation. Enterprise service management (ESM): It is the most important approach used by service organization to achieve competitive advantage in the service industry. It aligns the whole...
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...Cohesion Case: Competitive Advantage:Business Dilemma To survive and thrive, an organization must create a competitive advantage. A competitive advantage is a product or service that an organization's customers place a greater value on than similar offerings from a competitor. Unfortunately, competitive advantages are typically temporary because competitors often seek ways to duplicate the competitive advantage. In turn, organizations must develop a strategy based on a new competitive advantage. When an organization is the first to market with a competitive advantage, it gains a first-mover advantage. The first-mover advantage occurs when an organization can significantly impact its market share by being first to market with a competitive advantage. FedEx created a first-mover advantage by creating its customer self-service software, which allows people and organizations to request parcel pickups, print mailing slips, and track parcels online. Other parcel delivery companies quickly began creating their own online services. Today, customer self-service on the Internet is a standard for doing business in the parcel delivery business. Page 14 As organizations develop their competitive advantages, they must pay close attention to their competition through environmental scanning. Environmental scanning is the acquisition and analysis of events and trends in the environment external to an organization. Information technology has the opportunity to play an important role in environmental...
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...2012 Individual Effects of Quality Management on Domestic and Global Competition Paper | Write a 700- to 1,250-word paper in which you compare and contrast quality management at two organizations in the same industry. * One organization must compete in the domestic market and one in the global market, such as Southwest Airlines and Lufthansa. Consider researching the airline industry, the auto industry, the electronics industry, or the pharmaceutical industry. * Complete the following in your paper: * Describe or diagram a process or procedure that is similar between the organizations. Explain the process or procedure from beginning to end. * * Explain why the process or procedure produces a competitive product or service in the domestic and global markets. * Explain how quality management affects the position of the companies in the domestic and global market. * Include a minimum of two resources in addition to Quality Management for Organizational Excellence. Format your paper consistent with APA guidelines. | ...
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...home and work. The Telecommunications Services has three sectors of business which include wireline, wireless and technology. With today’s globalization, most businesses have difficulty without the services of the technology. Although even today, smart phone usage does not account for the large numbers of families without direct access to the Internet. Due to reductions in price for usage and the ease of use from satellites and fiber optics, Internet now provides easy access to users all the over the world. The Telecommunication Industry (Telecom) is providing fast and easy access to Internet and other related services to everyone, including businesses, homes and access wirelesly. The various companies in this Industry are providing services through wired and wireless connections. The major U.S. companies are: Verizon, AT&T and Comcast. Japan based are Nippon and Telephone cooperation. Italy provides Telecom Italia and Telefonica from Spain. Broadband development is on the rise all over the world and in Nigeria it has become a new growth frontier for their nation’s economy (Azeez, 2016). The profitability of the organizations in this Industry depend on how it markets its services and efficiency of operations. The bigger providers are earning profits on a larger scale in marketing and operations, whereas the smaller local organizations are successfully operating in rural smaller markets where the competition is not available. The major products offered by these providers are allowing...
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... * Rowner Community Trust summary profile - (re-phrased from the internet) Rowner community trust is a new charity organization that operates under the umbrella of Rowner World Company. They aim to support the growth of the area Rowner in Hampshire by focusing on its economic, social and environmental angles and contribute to its community development. Rowner Community Trust is a new initiative. Therefore, as any other organizations it is looking forward to grow its social business by developing new social ventures to support Rowner community and sustain its social business. * Rowner Community Trust next project Group 1 will focus on Rowner Community Trust next project. The Community Trust next project is to create an Events Management Social Enterprise. This new project will generate revenues by providing events management services such as catering, conferences and other events management services to the following target segments: * SME's * Large Corporates * Public sector * Non-profit organizations * Consumer markets in following geographic locations: * London * Regional organizations involving the following stakeholders * Rowner Community Trust * Rowner Community Trust community center * Rowner Community Events Group The revenues coming from the events management social enterprise services will help in sustaining Rowner Community Trust and will also provide benefits such as education, training and employment to...
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...Summary: This chapter brings strategic management to life with many contemporary examples. Sixteen types of strategies are defined and exemplified, including Michael Porter’s generic strategies: cost leadership, differentiation, and focus. Guidelines are presented for determining when it is most appropriate to pursue different types of strategies. An overview of strategic management in nonprofit organizations, governmental agencies, and small firms is provided. Long-term Objectives: Long-term objectives represent the results expected from pursuing certain strategies whereas strategies represent the actions to be taken to accomplish long-term objectives. The time frame for objectives and strategies should be consistent, usually from two to five years. Objectives serve as standards by which individuals, groups, departments, divisions, and entire organizations can be evaluated. Long-term objectives are needed at the corporate, divisional, and functional levels of an organization. They are an important measure of managerial performance. Success only rarely occurs by accident; rather, it is the result of hard work directed toward achieving certain objectives. The Nature of Long-Term Objectives: Objectives should be quantitative, measurable, realistic, understandable, challenging, hierarchical, obtainable, and congruent among organizational units. Each objective should also be associated with a timeline. Objectives are commonly stated in terms such as growth in assets, growth...
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...Product vs. Service Supply Chain Whether tangible products or intangible services, both manufacturing and service industries use different inventory strategies to deliver quality end results to consumers. Supplying a service or a product impacts forecasting and resourcing decisions in different ways. The objectives of the service industry remain similar to the manufacturing industry, fulfilling wants or demands of customers are impacted by the strategies that organizations choose to follow. In the manufacturing industry, raw material, work in progresses, sub-components and finished goods are stored at the company’s expense to meet the demands of its customers. Stock that is held to meet demands is also knows as cycle stock. An example may be a company who purchases coffee from a supplier. The coffee that is supplied is used every day; therefore the company may want to purchase a month’s worth of coffee that will satisfy their demand for roughly thirty days. To avoid any uncertainties in demand as well as shortages or delays, a safety stock can be purchased in addition. Although this scenario sounds ideal, situations do not always turn out to be perfect. One thing that can be a problem with supplying too much coffee to this company would be an issue of quality in the coffee. Keeping coffee stored away and unused for too long may cause the coffee to become stale and unsatisfying. In addition, a variety of associated costs and good customer service are a few challenges that may...
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...the previous section you have learnt the objectives for an organization and its key elements. However for an organization to achieve its objectives, the organization must craft or formulate strategies. The strategies are crafted for the purpose of achieving the objectives. In this way the organization will be able to achieve its mission and move closer to its vision. As you have learnt in the first module there are three levels of strategy. In this module we will further discuss the three levels of strategy. 5.3.1 Corporate strategy The following corporate strategy is discussed based on David (2007). For an overview of the different types of corporate strategy you can refer to Table 5.2. Table 5.2: Overview on Different Types of Corporate Strategy |Strategy |Definition | |Forward integration |Gaining ownership or increased control over distributors or retailers | |Backward integration |Seeking ownership or increased control of a firm’s suppliers | |Horizontal integration |Seeking ownership or increased control over competitors | |Market penetration |Seeking increased market share for present products or services in present markets through | | ...
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