...Business-Level Strategy TRUE/FALSE 1. A business-level strategy is a “big picture,” highly-generalized action plan that will move an organization toward achievement of its general vision. ANS: F PTS: 1 REF: Page 98 OBJ: Learning Objective 1 KEY: Knowledge MSC: AACSB: Analytic | Management: Strategy | Dierdorff & Rubin: Strategic & Systems Skills 2. A generic business strategy is one that can be used in all industries and by all types of firms. ANS: T PTS: 1 REF: Page 99 OBJ: Learning Objective 1 KEY: Knowledge MSC: AACSB: Analytic | Management: Strategy | Dierdorff & Rubin: Strategic & Systems Skills 3. Wal-Mart has not adjusted its business model since the mid 1990s. ANS: F PTS: 1 REF: Page 99 OBJ: Learning Objective 1 KEY: Knowledge MSC: AACSB: Reflective Thinking | Management: Strategy | Dierdorff & Rubin: Strategic & Systems Skills 4. Competitive scope describes the breadth of the target market the organization wishes to serve. ANS: T PTS: 1 REF: Page 99-100 OBJ: Learning Objective 2 KEY: Knowledge MSC: AACSB: Analytic | Management: Strategy | Dierdorff & Rubin: Strategic & Systems Skills 5. In general, firms with a standardized product should narrowly segment their market. ANS: F PTS: 1 REF: Page 100 OBJ: Learning Objective 2 KEY: Comprehension MSC: AACSB: Analytic | Management: Strategy | Dierdorff & Rubin: Strategic & Systems Skills 6. Typically, the customers of organizations using the cost-leadership strategy are not...
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...3 Analysis of Competition using Porter’s Five Forces Model 3 SWOT Analysis 4 Strengths and Core Competencies 5 Weaknesses 5 Opportunities 5 Threats 5 Market Objectives 6 Product Objective 6 Price Objective 6 Place Objective 6 Promotion Objective 6 Marketing Strategies and Implementation 7 Product Strategies 7 Price Strategies 7 Place Strategies 7 Promotion Strategies 7 Explanation of Strategies………………………..……………………………………………………………………………………………….7 Implementation Plan 7 Product Tactics 8 Price Tactics 8 Place Tactics 8 Promotion Tactics 8 Monitoring Procedures 8 Introduction While this section is not expressly requested in the task instructions, it is usually helpful to write a paragraph that introduces Company G and the product that you are writing this marketing plan about. Product Description and Classification Product Description and Support of the Mission Company G Mission Statement “We enable consumers to improve the quality and convenience of their lives by providing high-quality, innovative electronics solutions.” The task instruction is to describe your product and explain how it supports the mission statement, provided above. This should be a 1−2 paragraph section that includes a detailed description of your product. Then discuss how the features of your product support the given Company G mission statement. Consumer Product Classification The task instruction is to classify the proposed Company G’s product using the three-way consumer products...
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...PRICING Price is the amount of money need to pay for using a goods or service, or the sum of the values that customers exchange for the benefits of having or using the goods or service. Price is the major factor affecting buyer choice and still remains one of the most important elements determining firm’s market share and profitability. OBJECTIVES Pricing objectives can be classified into four major group: profitability objectives, volume objectives, meeting competition objectives, and prestige objectives. DiGi company objective is meeting competition objectives because DiGi have to set prices to match industry leaders such as celcom or maxis. DiGi focus on competition in services. DiGi also using value pricing strategy to emphasizing benefits a product provides in comparison to the price and quality levels of competing offerings. STRATEGY The alternatives pricing strategy are skimming pricing strategy, penetration pricing strategy, and competitive pricing strategy. DiGi using competitive pricing strategies. Competitive pricing means pricing that design to deemphasize price as a competitive variable by pricing a goods or services at the general level of comparable offerings. DiGi use this techniques to entice customers purchase services from them. DiGi try to reduce the emphasis on price competition by matching other firms’ prices and concentrating their own marketing efforts on the product, distribution, and promotion elements of the marketing mix. POLICY Pricing policies...
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...class will focus on the first fifteen letters of the alphabet (A-O). The K-8 grade specific standards define expectations that should be met at the end of the year as well as the cumulative progression designed that will enable students to meet the expectations for the next school year (Duschl et al, 2008). Measurable learning objectives During this weeklong assignment, the student's in the first grade will have three measurable learning objectives. The first...
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...Unit 3 Introduction to Marketing Marketing Techniques Task 1 For this task you are required to research the business objectives, strategies and marketing techniques of two businesses. To do this, use information you gathered from your visit to Thorpe Park (private organisation) and the links to World Vision (voluntary organisation) on Moodle. Using your findings: * Describe the corporate objective and marketing objective of both including the marketing techniques they use to market their products. * Explain in detail the similarities and differences between the marketing techniques used by the two organisations to market their products. * For Thorpe Park only, you now need to evaluate the techniques it uses to market it product. What to do Introduction – what you have been asked to do Part A A. Introduce the two businesses– Thorpe Park and World Vision. Include their * Cooperate objective * Marketing objective B. Describe how the two organisations use the growth strategy and Survival strategy to market their products or service. 1. Thorpe Park – * Growth strategy –What strategies is the business adopting using Ansoff Growth matrix * Survival strategy – Branding - What is the business doing to enhance its product through * advertising campaigns * promotions such as supporting causes * or event sponsorship Relationship marketing- What is the business doing to * Identifying valuable customers * Initiating relationships ...
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...Cream compete in the ice cream industry and regain success using its new brand name? Symptoms: Low market share, wherein, Arce Dairy Ice Cream belongs to the remaining 10% of the ice cream market. Cause: Poor promotional and distribution strategies IV. STATEMENT OF OBJECTIVES: Must Objective: To increase in one month’s time the company’s market share by 5%. Want: To gain favorable market control in the succeeding years. V. AREAS OF CONSIDERATIONS A. Internal Environment Strengths: 1. Arce Dairy Ice Cream is made of fresh carabao’s milk (“all natural”); 2. The finished product is tastier and richer (more flavorful); 3. They have variety of ice cream flavors; 4. They use fresh ingredients like whole seasonal fruits and other natural products; 5. Arce Dairy Ice Cream has distinct taste and high quality (the firm rejects delivery of ingredients that do not pass high quality standards, no matter how inexpensive); 6. They have hundred heads of milking carabaos in the Arce dairy farm; and 7. Their ice cream product has been in the business for years (although Selecta, their former name is now being carried by a competitor, RFM Corporation). Weaknesses: 1. Poor marketing efforts which resulted to local market share (since they seems to be contented catering to their existing customers only); 2. Low promotional and distribution strategies; 3. Limited outlet/branch; and 4. They have sold their...
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...available to anyone who can use a computer. True False 4. Technology provides countless business opportunities, but can also lead to pitfalls and traps for a business. True False 5. Top managers use social intelligence to define the future of the business, analyzing markets, industries and economies to determine the strategic direction the company must follow to remain unprofitable. True False 6. A variable is a business intelligence characteristic that stands for a value that cannot change over time. True False 7. Companies update business strategies continuously as internal and external environments change. True False 8. For an organization to succeed, every department or functional area must work independently to be most effective. True False 9. Porter's Five Forces Model outlines the process for a sales strategy. True False 10. With the Five Forces Model, companies should watch the forces in the market. If the forces are strong competition generally increases and if the forces are weak competition typically decreases. True False 11. Successful companies today operate cross-functionally, integrating the operations of all departments. True False 12. An overview of systems...
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...MDCM, Inc. (A): IT Synchronization Strategy Question no 1: Articulate a Corporate Strategy based on evidence from the case Answer: MDCM used following corporate strategies to carry out its business globally: Consolidation Strategy MDCM Inc. used the consolidation strategy primarily by growing into the geographical areas such as US, France, UK etc. The company was aimed to serve the customers in a best way delivering quality products with absolute commitment. They made several acquisitions targeting the non US based companies that had competencies especially in contract manufacturing to help serve the local customers. Moreover, the company became more efficient by outsourcing all the inbound and outbound logistics, thus saving the cost and serving the customers in a better way. McMullen ensured that all the outsourcers hired were the ex-MDCM employees and had been a part of the logistics group for ensuring sincerity and efficiency at the same time. Global Strategy MDCM Inc. being a US based company globalized by acquiring firms in all the major regions of world other than US and started using the global strategy by making its first acquisition of a UK based company in 1987, and made more than 20 acquisitions till mid 1990’s. E-Business Strategy Keeping pace with the emerging global economy and the e-business trends MDCM felt serious flaws in its IT system. And to overcome the inaccurate forecasting, scheduling, inventory and supply chain problems and to make its business...
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...Question One: Strategic Management Process Strategic management is the process of clearly defining an organizations objective and assessing both its internal and external situation and formulating strategies, implementing the strategies, evaluating progress and making adjustments as may be necessary to ensure the organization stay on track. It is a method organizations use to conceive and implement a strategy that can lead to a sustainable competitive advantage. Through strategic management organizations establish goals and objectives, formulate actions (strategies) designed to meet these objectives in the desired timescales, implement the actions and assess progress and results. The process is a systematic or emerged way of performing strategic planning in organizations, through analysis, strategy formulation, its implementation and evaluation. The strategic management process model chosen by a company will depend on the organization’s culture, leadership style, and the experience the firm has in creating successful strategies. The components of a strategic management planning process fall in five main categories: initial assessment, strategic analysis, strategy formulation, implementation and monitoring. At the initial assessment phase the organization needs to identify its mission and vision. The vision will help the managers visualize the company’s future, managers will be able to know where they want to go and what they want to achieve. It is the ultimate goal for the firm...
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...www.thetimes100.co.uk Social responsibility - using resources more efficiently Curriculum Topics • Aims and objectives • SMART objectives • Strategy • Tactics Images supplied by Vismedia Introduction The challenge facing business and society in the 21st century is how to use resources more efficiently. Every business large or small needs to consider carefully: 1. how to reduce its use of energy 2. how to minimise waste. The central economic problem is how to match finite resources with unlimited wants. With the demand for resources rising as the world economy grows this is becoming more of a challenge. Leading global companies like Anglo American strive to find new solutions to this problem every day. Anglo American is one of the world’s largest mining companies. Its portfolio of mining businesses spans precious metals and minerals – in which it is a global leader in platinum and diamonds, base metals (copper and nickel) and bulk commodities (iron ore, metallurgical coal and thermal coal). The company’s mining operations and extensive pipeline of growth projects are located in southern Africa, South America, Australia, North America and Asia. The purpose of the organisation is set out in a mission statement. In 2008 there was a downturn in world economic activity. This resulted from a loss of confidence in the world financial system. The downturn led to a steep fall in commodity prices such as coal, copper and platinum. By late 2009 these prices started to rise...
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...Chapter 02 Strategy and Sustainability True / False Questions 1. | An operations and supply chain strategy must be integrated with the organization's corporate strategy. True False | 2. | One of the competitive dimensions that form the competitive position of a company when planning their strategies is cost. True False | 3. | One of the competitive dimensions that form the competitive position of a company when planning their strategies is delivery speed. True False | 4. | One of the competitive dimensions that form the competitive position of a company when planning their strategies is making the best trade-off. True False | 5. | The process when a company seeks to match the benefits of a successful position while maintaining its existing position by adding new features, services, and technologies into its current portfolio is called flexibility. True False | 6. | The process when a company seeks to match the benefits of a successful position while maintaining its existing position by adding new features, services, and technologies into its current portfolio it is called straddling. True False | 7. | By following a straddling strategy, firms can broaden their capabilities and effectively compete with more focused firms in markets requiring low cost for success. True False | 8. | An order winner is a set of criteria that differentiates the products or services of one firm from...
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...I. Current Situation a. Current Performance i. How did the corporation perform the past year overall in terms of ROI, market share, and profitability? b. Strategic Posture What are the corporation’s current mission, objectives, strategies and policies? i. Are they clearly stated, or are they merely implied from performance? ii. Mission: What business is the corporation in? Why? iii. Objectives: What are the corporate, business, and functional objectives? Are they consistent with each other, with the mission, and with the internal and external environment? iv. Strategies: What strategy or mix of strategies is the corporation following? Are they consistent with each other, with the mission and objectives, and with the internal and external environments? v. Policies: What are the corporation’s policies? Are they consistent with each other, with the mission, objectives, and strategies, and with the internal and external environment? vi. Do the current mission, objectives, strategies, and policies reflect the corporation’s international operations, whether global or multi-domestic? II. Corporate Governance a. Board of Directors i. Who is on the board? Are they internal or external members? ii. Do they own significant of stock? iii. Is the stock privately held or publicly traded? Are there different classes of stock with different voting rights? iv. What do the board members contribute to the corporation in terms of knowledge, skills background, and connections?...
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...Using aims and objectives to create a business strategy Using aims and objectives to create a business strategy Introduction Kellogg is the world's leading supplier of breakfast cereal with 39 brands and a 42% share of the UK market. Kellogg's success is achieved through the use of a carefully planned strategy. It sets clear aims and objectives and uses the strength of its brands to help it reach them. Kellogg manages its brands to ensure that each has a unique position in the minds of its customers. This is called product positioning. Kellogg has developed a range of products for the various segments of the UK's £1.1 billion cereals market. Developing aims Kellogg's managers realise that its aim needs to match the expectations of its consumers. Consumers, backed by research and publicity, increasingly want to lead a healthier lifestyle. Kellogg wanted to be part of this debate and to promote the message 'Get the Balance Right'. It also wanted to show that it was a responsible organisation. This idea of corporate responsibility was also built into planning. Its aim – the broad statement of where it wanted to be – was therefore to reinforce the idea of a balanced, healthy lifestyle. Objectives Once a broad aim is set, managers then set specific objectives that can be measured. Objectives need to be SMART, i.e. specific, measurable, achievable, realistic and time related. Objectives were set in three main areas: * encouraging and promoting physical activity for health...
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...MDCM, Inc. (A): IT Synchronization Strategy Question no 1: Articulate a Corporate Strategy based on evidence from the case Answer: MDCM used following corporate strategies to carry out its business globally: Consolidation Strategy MDCM Inc. used the consolidation strategy primarily by growing into the geographical areas such as US, France, UK etc. The company was aimed to serve the customers in a best way delivering quality products with absolute commitment. They made several acquisitions targeting the non US based companies that had competencies especially in contract manufacturing to help serve the local customers. Moreover, the company became more efficient by outsourcing all the inbound and outbound logistics, thus saving the cost and serving the customers in a better way. McMullen ensured that all the outsourcers hired were the ex-MDCM employees and had been a part of the logistics group for ensuring sincerity and efficiency at the same time. Global Strategy MDCM Inc. being a US based company globalized by acquiring firms in all the major regions of world other than US and started using the global strategy by making its first acquisition of a UK based company in 1987, and made more than 20 acquisitions till mid 1990’s. E-Business Strategy Keeping pace with the emerging global economy and the e-business trends MDCM felt serious flaws in its IT system. And to overcome the inaccurate forecasting, scheduling, inventory and supply chain problems and to make its business...
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...You might consider developing competitive strategies by establishing your product attribute dominance relative to a specific competitor, or how to creating a lifestyle image better than competitors’ related to heavy user consumer images in your category. Competitive strategies also include advertising comparison by using advertising media tactic as your competition, the development of new product, packaging, merchandising techniques, or selling techniques to counter competitive strengths. Target Market Strategies Target market strategies are referring to how you market your products or services to specific target market based on your marketing objectives that defined the customers purchase behavior you want to target. For example, you may...
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