that will assess the effectiveness of market structure for the company’s operations. Then I will determine two factors that likely factors that caused the change in market structure. Next I will analyze the major short run and long run cost functions for this company given certain cost functions. In this analysis I will suggest substantive ways in which the company can use that information to make decisions in the short and long run. Then I will determine the possible circumstances in which the
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is explained by industry structure. Michael Porter provided a framework that models an industry as being influenced by five forces. The strategic business manager seeking to develop an edge over rival firms can use this model to better understand the industry context in which the firm operates. Diagram of Porter's 5 Forces | SUPPLIER POWER Supplier concentration Importance of volume to supplier Differentiation of inputs Impact of inputs on cost or differentiation Switching costs of firms
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is a promise to pay. What you and I consider a mortgage or IOU that is registered at your local county courthouse. What I do is find these notes, determine their true value based off a formula and notify my list of buyers to see who is interested in making an offer. So now, I have created my home-based service off the current need within this market. The need is for professional note finders/locators. Buyers (or investors) are looking for good clean notes to invest in but don't necessarily have
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the 21st-century competitive landscape and explain how globalization and technological changes shape it. * The fundamental nature of competition in many of the world’s industries is changing. There are rapid changes in industry boundaries and markets. * Conventional sources of competitive advantage such as economies of scale and huge advertising budgets are not as effective as they once were in terms of helping firms earn above average returns. * The conditions of competitive landscape
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Information systems use data as their main ingredient and organizations rely on people. However, the similarities are remarkable. Both are a structured method of turning raw products (data/people) into useful entities (information/producers). Think of some of the organizations you’ve been involved in. Didn’t each of them have a structure, even if it wasn’t readily apparent?
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will compete in its chosen industy or market segment – how it will compete on a day to day basis – purpose is to create value for target customers in an area more than anyone else, most effective when everyone understands it (clear, specific statement of value) and it is implemented with zeal and efficiency. It is a function of the basic of competitive advantage (in cost or performance characteristics/uniqueness) and competitive scope (breadth of target market it wishes to serve) Types: 1. Cost
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more difficult to accomplish. Strategic management lays the framework for lasting success. Corporations can no longer sustain profitable business activities by simply maintaining a business as usual or status quo strategy. As the world and economic markets continue to evolve, companies must also transform to accommodate an ever-changing environment. During such transformations, managers should be careful to implement change that is consistent with the company’s core mission and objectives. Strategic
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pay – the foundation pay component for most employees and is generally based on some unit of time. (Per hour, week, month) 2) Performance Pay – relates employee monetary rewards to some measure of individual, group or organizational performance. 3) Indirect Pay – noncash items or services that satisfy a variety of specific employee needs such as health protection. The first step in a compensation strategy is to determine the role that compensation will play in the reward system. Since most
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resources to create value. - Inputs include resources such as raw materials, machinery, information and knowledge, HR, and money and capital. They way the organization chooses and obtains from its environment the inputs it needs to produce goods and service determines how much value the organization creates at the input stage. E.g.) choose certain products and people to work for company. - Conversion stage: organization uses human resources and technology to transform inputs into outputs. It depends
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IB 2-4 Tasks 1-2 Week 1 Jones: Chapter 2 – Basic Challenges of Organizational Design Differentiation - differentiation = process by which an organization allocates people and resources to organizational tasks and establishes the task and authority relationships that allow the organization to achieve its goals à process of establishing and controlling the division of labor/the degree of specialization o necessary because of increased complexity with growth Organizational roles
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