...enter a new market, the business gains an advantage over the actual and potential rivals” (First Mover Advantage, 2012). The chart below gives advantages and disadvantages for being the first mover to being the late mover. Advantages of 1st Mover: By being first to enter the market, the business gains an advantage over its actual and potential rivals* Can capture market shares easily without worrying about rivals capturing the same customers The first mover will have established familiar products, brand loyalty, and the best retail outlets By beating rivals into the market, the first-mover can consolidate its position and compete more effectively continuing to expand Advantages of Late Mover: Have strong resources and capabilities could overtake the first mover. Free ride on a pioneering firms investments in a number of areas. By the time the late mover enters the market, the technological and market uncertainty has been resolved giving them an advantage. Late movers have the advantage of seeing what methods work after reviewing the 1st movers methods Disadvantages of 1st Mover: Can be less profitable than late movers because of high costs that overwhelm the sales gains Higher premiums accrues to pioneers, which is directly attributable to the timing of entry (entry costs) High advertising cost and entrenched in their original ways of doing things Followers learning from 1st movers mistakes giving them advantages over more efficient processes and technologies...
Words: 765 - Pages: 4
... Operating System You may have heard of UNIX, or maybe not. Where did this so called UNIX come from? What exactly is an operating system you ask and what is it comprised of? Read on to find out more. Birth of a New Creation: UNIX is the creation and brain child of Bell Laboratory researchers Dennis Ritchie and Ken Thompson. Ken Thompson was working with Space Travel. Space Travel was a program that simulated the motion of the planets in our solar system. The Space Travel program was under the operating system called Multics (Multics is one of the first operating systems that provided a multiuser environment, and ran on a General Electric 6000 Electric Computer) (Afzal, 2008). Multics was a slow and very large and required a substantial amount of computer resources. Ken Thompson found a small little PDP-7 computer (created by the Digital Equipment Corporation) and transferred the Space Travel program on to it. On this computer is in which Ken Thompson created the new operating system that he deemed to be UNIX. Ken Thompson adapted Multics advanced concepts to the operating system. UNIX took advantage of the other operating systems by incorporating some of all of the other operating systems into its own, and combining...
Words: 1257 - Pages: 6
...MGMT. 703 – 101 Ethics & Stakeholder’s Management Individual Assignment # 1 The Travel Expense Billing Controversy and The False Claims Act 1. Why would an independent audit firm, like PwC, that depends upon the maintenance of its reputation for integrity and professionalism, to retain and attract clients, risk the loss of that reputation by engaging in what appears to be unethical behavior (not returning travel expense rebates)? Explain your answer and reasoning. * Pricewaterhouse Coopers (PwC) is a major accounting firm and has a strong foothold in financial markets. The company remarked that their employers were engaged in unethical billing practices through which they are earning millions of dollars. The company was earning huge rebates on airline tickets and other travel expenses that were being charged to different clients associated with the company. The firm’s Global-Travel director replied it as, the negotiations were associated with the travel deals and not with the clients, so in this case any rebates or discounts earned are company’s profit. The company failed to attain integrity and industrial professionalism by committing this unethical practice for their own advantages. The company was greedy in earning profits through unethical practices and overlooked the reputation of the company in front of their clients and the overall financial market. It was not the company as a whole, but some of its senior executives who were not loyal and honest...
Words: 944 - Pages: 4
...solutions. The focus is on much more than just the sales programs due to the number of studies that show the power of incentives to drive employee engagement and customer loyalty. The concept of Corporate Social Responsibility has emerged as a significant element for many programs. Competition and the economy have narrowed the once generous margins for incentive companies. Recent research by the Incentive Research Foundation (IRF) and others, pulse studies and Delphi panels offer some pragmatic insights about where the reward for performance industry has been and where it is heading. As the IRF looked toward 2011 and beyond, it analyzed existing research, scanned incentive industry and business publications, and sought input from industry leaders. This effort yielded the following “11 trends for 2011”. Upon closer examination, the eleven trends can be grouped into four major categories: Economy (1, 2, 3) Government (4) Motivation (5, 6, 7, 8) Technology (9, 10, 11) As you review these trends, the IRF hopes you will analyze how they reflect your own views and experience, and then think about how these factors might affect you and your work as we head into a new year and changed economy. 1. CAUTIOUS OPTIMISM EMERGES At the 2010 IRF Roundtables, approximately four in ten participants said the economy has had a slightly positive impact on their ability to plan and implement non-cash incentive (travel/merchandise) programs....
Words: 1883 - Pages: 8
...Obstacles and Solutions for Human Travel and Exploration of Mars Man is not destined to stand idle in the face of new frontiers and undiscovered fortunes. Since the beginning of time, man has risked nothing short of his own life to step beyond dreams and achieve the reality of the new and undiscovered. With the need to find these new corners of the universe, new technologies must be achieved giving man not only the abilities to overcome the impossible but the opportunity to better understand man himself. The conquest of Mars is a necessary step to exponentially leap man’s knowledge into new realms of understanding. The conquest of Mars is no longer an option but a necessity. I have been tasked today to present to my audience the obstacles and solutions associated with human interplanetary travel with respect to Mars. While many current fuel and propulsions systems are purely hypothetical, the idea to propel is basically the same. The principle is based on Newton’s Third Law of Motion: For every action, there is an equal and opposite reaction. As propellant is expelled from the spacecraft, a reactionary force is acted upon the spacecraft creating movement. This can be done in many forms including chemical propellant, electricity, nuclear, and solar sails. Chemical propulsion systems are the current propulsion systems of choice in the current world’s space programs. Chemical propulsion systems contain a fuel source and oxidizing agent that are mixed and burned in a...
Words: 1485 - Pages: 6
...Stay True Travel Staying True to You™ Final Strategic Plan BUS475 Week 5 Professor Dhillon February 14, 2012 Stay True Travel Staying True to You™ Final Strategic Plan Introduction Being a successful business, or corporation, is composed of more than simply having the best logo, slogan, or advertising campaigns, but rather it is about how each individual aspect of an organization is constructed and built from the ground up. With money being tight, budgets shrinking, and uncertainty with job security, for businesspersons and families alike, the tourism industry has had to truly redefine itself and adapt to continue to be sustainable. Travel and lodging has become more than a small room, an uncomfortable bed, continental breakfast, and a free morning paper that it once was. Now, clients seek personalized service, lavish design, and a unique ambiance wrapped up into an affordable package and a uniquely tailored experience. Travel agencies are beginning to face rash decisions with their outdated marketing campaigns, untrendy travel destination partnerships, and ultimately losing clientele because they can no longer do the one, single-handedly simple thing that all travelers wish for: being heard and having their individual wants and needs met without hesitation. Although it may seem as if there are no adequate travel agencies to turn to that can and will meet all needs and wants of the everyday traveler, there is indeed one agency that will not let its clientele...
Words: 3417 - Pages: 14
...Full Service Travel in Brazil Explore the World LLC Team C: MGMT 598 International Business Professor Wendy Finlay December 15, 2013 Table of Contents 1.0 Executive Summary3 2.0 Country Factors3 2.1 Political and Legal4 2.2 Economic4 2.3 Cultural5 3.0 Competition6 4.0 Market Opportunity9 5.0 SWOT Analysis: Implications12 5.1 Strengths12 5.2 Weaknesses14 5.3 Opportunities15 5.4 Threats16 6.0 Business Objectives16 7.0 Strategic Thrust17 8.0 Tactics19 8.1 Human Resources19 8.1.1 Recruiting and Staffing19 8.1.2 Training and Development20 8.1.3 Performance Management21 8.1.4 Compensation & Rewards21 8.2 Financial Risks22 8.3 Products and Services23 8.4 Pricing24 8.5 Promotion25 8.6 Distribution27 9.0 Measurement of Results28 Global Business Strategy: Full Service Travel in Brazil 1.0 Executive Summary Explore the World LLC desires to create a concierge, high-end travel agency/experience in Brazil. Our new office will be located in a place yet to be determined in Brazil and we are thinking of transportation, accommodations, private guided tours, cultural lessons, and language lessons. Essentially, the business plans to make the experience more than just seeing the sights, but experiencing the culture and lifestyle as a whole. This service can be used by both business and vacation travelers. In addition to direct personal service we will have a website to allow people to survey our offerings...
Words: 8038 - Pages: 33
...Milestone 3: Freedom Travel Company DeVry University The solution recommended to Freedom Travel is a powerful web based cloud management system that would assist in managing financial loans and agent quotes that would give the company the tools needed for regular business practices. For example, this tool would help with quoting, account status and back-office functions that integrate with Freedom Travel’s existing agency management system. In implementing this new technology, additional business practices would include the delivery of real time status and payment updates as soon as they are applied to Freedom Travel’s account. Also their online subscription would be more cost effective than buying and maintaining the software. As mentioned before, the pay for the service by the month based on the number of loans you have would help with cash flow. Freedom Travel would have the option to seamlessly integrate with the cloud services management systems which would make it easy for them to work with their finance company. This comprehensive software package is designed to help Freedom Travel sell and retain commercial accounts by streamlining processes from lead development to sales to customer support. It would be flexible and easy to use and will deliver the advanced tools Freedom Travel needs to capitalize on opportunities, increase efficiency, speed up response times, and ensure customer satisfaction. Easily integrated application will deliver industry profiles,...
Words: 656 - Pages: 3
...Diversification Strategies Southwest Airlines Southwest Airlines was started 45 years ago in 1967 by two entrepreneurs: Herb Keller and Rollin King who had the right vision and culture by which to become successful entrepreneurial leaders. This vision was achieved as Southwest Airlines became the greatest airline in the USA. As a young business in the airlines industry, Southwest Airlines in the initial years confronted very tough situations, and it was due proper planning and with the assistance of its employees that kept Southwest Airlines afloat from sinking. There were already pioneer big companies well established in the airlines industry when Southwest Airlines joined the industry. Some of these companies had a good share of the market and with low over head costs. Such a scenario makes it problematic for a new comer to get a solid footing in the industry. Through these decades, times have been changing and Southwest airline have been changing its waste of operation to keep up with the time. Gould stated, “Core competencies are not constant. They tend to change as the organization changes. Therefore, it’s important that the competencies are flexible and not etched in stone.” (p.5, 2008) The history of the air industry is characterized with very tough competition among companies. Besides, it is even tougher for new companies to enter the industry. The corporate head office of the Southwest Airlines is located in Dallas, Texas and that was where it was initially...
Words: 1860 - Pages: 8
...there, on time, at the lowest possible fares, and make darn sure they have a good time doing it, people will fly your airline.” This approach has been the key to Southwest’s success. Currently, Southwest serves about 60 cities (in 31 states) with 71 million total passengers carried (in 2004) and with a total operating revenue of $6.5 billion. Southwest is traded publicly under the symbol “LUV” on NYSE. The Case:- South West airline who is known for low cost airline was facing completion from other airlines and also called for imitators like Kiwi and Reno Air as well as major airlines like United and Continental. Rhoades an MBA had joined SouthWest airline to transform the so-called people department, because they think that there advantage lies with kind of employees they have. Since its instigation, Southwest has maintained the same strategy by concentrating on flying to airports that are underutilized close in to metropolitan area. Southwest service involves frequent on-time departures as well as low cost fares. They emphasize point to point routes with no central hub and an average flight time of 65 minutes. This makes the trips more attractive to travelers who might have otherwise consider driving. Souhwest also makes the fare simple by offering only two fares on the route, a regular coach fare and a...
Words: 1790 - Pages: 8
...Zipcar Porter’s Five Forces of Competitive Position for Zipcar Porter’s five forces analysis is supposed to provide a very simple perspective for assessing and analyzing the competitive strength and position of a company, in this case Zipcar namely. The analysis can be outlined as follows. The competitive rivalry force for Zipcar is moderate to strong. The major competition is faced from other rental agencies that provide similar services. Nevertheless, the company has a competitive advantage over its competitors due to the flexibility of the service it provides to its customers. Other competitors for Zipcar include transportation services providers such as taxi cabs and public transportation. Nevertheless, the advantage of Zipcar over this competitor segment lies within availability virtually in any location in a dense area as well as relative cheapness of the service if a travel to long distance is required, which would add to the customer cost if a taxi, for example, was chosen. Supplier power in the competitive position for Zipcar is evaluated to be as moderate. The company provides the car rental services with its own cars, which provides for no delays in car availability from third parties. Furthermore, the company supports strong connections with petrol stations as well as technical services that guarantee in time fuel supply as well as car repairs when needed. Buyer power in the competitive position of Zipcar is strong. Buyers may...
Words: 650 - Pages: 3
...history. As oil prices continue to fall there is a global tendency for companies, especially in the oil industry, to prioritize for short-term earning rather than long term value creation. From the case, we find the management under the leadership of Einar Eng who understood that the company needed to take steps to enhance the expertise and tenure of valuable human resources to better position his company for the future. Mr. Eng thought of a recommendation to steer the committee to information technology (IT) which stands to be a major initiative of boosting the employees’ knowledge of IT and their ability to use the technology especially for business and personal advantage. In 1996 the vision of empowering employees to enhance their personal and professional capacity through e-learning was an ambitious one. Part of the program had the potential for offering additional training modules that employees could complete on their own free time in exchange for the state-of-the-art multimedia home PC with free internet connection...
Words: 1175 - Pages: 5
...decreasing mishandled bag to address customer satisfaction RECOMMENDATIONS • Trainer refinery: mitigate risks for success. • Customer satisfaction: domestic differentiation strategy and international best in class strategy Overview Industry Company Strategy Conclusions Review 2 The Airline Industry: At a Glance Across the Industry • Slow, but positive, global GDP growth • More financially-stable U.S. airline industry as merger integrations mature and restructured carriers emerge • U.S. carriers maintain capacity restraint with growth less than GDP • Inflationary pressures across all categories, with industry capacity discipline allowing for recovery of higher cost inputs • Corporate travel demand remains solid with corporate travel spend to increase 5% for 2014 Overview Industry Company Strategy Conclusions Review 3 Industry profitability improving, but returns still below WACC Profits have been improving in the past three years… …but the industry is still not having economic profits Overview Industry Company Strategy Conclusions Review 4 Porter’s Five Forces: Airline Industry Power of Suppliers: HIGH • Powerful labor unions • Aircraft and engine producers are both concentrated oligopolies • Airports are local monopolies • Airport services (handling, catering, cleaning) are also concentrated in a...
Words: 2041 - Pages: 9
...want to work with big animals these days, like horses, cattle, sheep, and pigs. Last year 65.5% of all veterinary positions people choose companion and exclusive, that includes dogs, cats, birds, rabbits, and ferrets. Last year only 1.8% choose food animal exclusive. This includes pigs, cattle, sheep, goats, llamas, and alpacas. My family has two different vets that take care of our animals. One is a companion and exclusive vet the other is a companion and food animal exclusive. I thought it was amazing that my vet could work with both big and small animals. The general jobs of a Veterinarian are to Examine animals to diagnose their health problems, treat and dress wounds, perform surgery on animals, test for and vaccinate against diseases, operate medical equipment, such as x-ray machines, advise animal owners about general care, medical conditions, and treatments, prescribe medication, and Euthanize animals. Veterinarians treat the injuries and illnesses of pets and other animals with a variety of medical equipment, including surgical tools and x-ray and ultrasound machines. They provide treatment for animals that is like the services a...
Words: 459 - Pages: 2
...Definition: Our textbook defines virtual work as, “employees use information technology to perform their jobs away from the traditional physical workplace. The most common form of virtual work, called telecommuting or teleworking, involves working at home rather than commuting to the office” (McShane & Von Glinow, 2010, p. 22). Summary: In his article, “Unilever Moves Employee Telecommuting to a New Level,” Gary M. Stern writes about how most employers today offer telecommuting and some go beyond that. Unilever is a consumer goods company that in 2010 launched a program titled “Agile Working” that allows its employees to telecommute anytime anywhere. With a 30% participation rate, employees are encouraged to work as long as they are making results. Stern alludes to various advantages of telecommuting such as avoiding commuting, flexible scheduling, and changing work environments. Advantages for the company include cutting global travel costs, office overhead, and achieving a higher level of talent in its employees. “Agile Working” is a flexible virtual work program that offers its employees flexibility, mobility, and challenges them in return (Stern 2012). Discussion: Virtual work is helping employees essentially blur the line between work and home. By letting employees use information technology and do their jobs away from the workplace they can be connected at home, on the road, or in a coffee shop. Research shows advantages of telecommuting include potentially reducing...
Words: 638 - Pages: 3
