Online Plagiarism Checker
We’ve Got You Covered – See Our Essay Sample
Can’t Find the Right Words? We’ll Help You Write a Winning Essay.
Tell us about your paper and we will find the best writer for your essay.
Write My Essay For Me
International Business and Management Essay
This involves production of goods of a given quality level at a lower cost. The firm then sells the good either at a higher or lower price than that of its rivals. By selling products at a higher price, the firm is able to make profits. However, the aim of selling goods at a reduced cost is to gain market share.
Thus, in case there are price wars in the market, the firm can still make profit while its rivals suffer losses. Moreover, the firm can produce cheaply and still make significant amount of profit.
The firm is able to mature even when the price of goods declines. Cost leadership strategy is mainly convenient for broad markets (Porter, 2003). Online Plagiarism Checker For example, Dell used this strategy to ensure that it was able to compete effectively in the market. Through cost leadership, Dell produced high quality electronic products that were sold at low price.
For a firm to effectively use the cost leadership strategy, it has to acquire cost advantages through the following: improve its processes making them effective, have access to low cost raw materials, make better decisions that mainly deal with outsourcing and vertical integration of its production as well as limit some unnecessary costs.
Rival firms may find it impossible to lower the price of their products by the same amount and therefore, this firm gains some competitive advantage.
Cost leadership required a firm: to have access to enough capital for investment and production, have up to date skills in designing products in a unique way, have the require expertise and skills as well as develop effective channels for communication and distribution.
Differentiation strategy
This involves production of unique products. This is in terms of its features, taste, and price among other attributes. Customers have to develop preference to this products in comparison to that of competitors. Thus, the product is deemed to be better and of higher quality.
Differentiation strategy also involves adding value to other existing products hence making them unique.
However, the firm may decide to raise the price a bit for such products (Kevin, 2009). The additional of premium price is justified as it is meant to cover the extra price incurred in making the products unique. Increase in supplier price means an increase in price of products.
Online Plagiarism Checker However, this works well where customers cannot get substitutes easily.
Blockbuster is an example of an American company that has used differentiation strategy to dominate entertainment industry. This is through provision of highly branded video and game videos.
For a firm to successfully utilize differentiation strategy, it has to have the following attributes: have access and use scientific research that is reflected in production, have a highly skilled, trained and creative team specialized in product development, a sales team that is able to communicate effectively and understand the strength of the products as well as ensure that the reputation of the firm’s products is high in terms of quality and level of innovation. This has been the case with Blockbuster. Online Plagiarism Checker
Focus strategy
This involves focusing on a narrow segment in the market. This is achieved through product differentiation or cost advantage. Different people tend to have diverse needs, tastes and preferences. Thus, by providing services targeting a given group it is easy to get their trust.
This leads to development of loyalty leading to regular and increased sales. Other firms will find it hard to venture into the same market directly due to the high strength of loyalt.
“Target” is a company in United States that mainly focuses on retailing household essentials as well as pharmacy services.
Based on its name “Target”, the company has flourished due to its ability to focus on a given segment of the society. It has been able to meet their needs hence gaining their loyalty.
Narrowing the market enables firms to have lower volumes as well as experience less bargaining power while dealing with suppliers.
Therefore, Dell, Target and Blockbuster have employed porters’ generic strategies that have led to their success. Evidently, these strategies are vital for any firm that seeks to have increased market share and gain higher profits.
International Business Essay 2
The company that I have been hired to work to improve its performance is a long term serving company. I realized that the company performed very well in its initial set up period but then failed to achieve its goals.
This has been brought about by the weaknesses of the supervisors in their service delivery. The company’s failure was ignited by various factors that I wish to discuss in the course of this discussion.
Online Plagiarism Checker For better description of my argument I will refer to my new company as Bright Link Company (Chen, 2009. This company packs and sells clean water in New York City. It also offers service delivery of goods to customers within the city.
Initial Survey
To perform my duty as a manager I had to carry out investigation to understand the root cause of poor performance in the Bright Link company. in my final stages , Online Plagiarism Checker I found out the following information that I may use to improve the performance of the company and realize a reasonable profit margin.
| Staff coordination |
Low |
| Staff motivation and training activities |
mid |
| Financial recording |
high |
| Equipment maintenance |
excellent |
| Communication systems |
mediocre |
| Public relation |
low |
| Safety issues |
low |
| Policy implementation |
Average. |
Action Plan
The performance grid provided indicate clearly the reasons why Bright Link Company is facing many challenges in its daily activities. Gomez-Mejia et al, 2008).
First staff coordination in the company is in a critical condition. Each and every staff member should fully understand the role he or she is required to play in the company (Gomez-Mejia et al, 2008).
To achieve this objective very good communication systems must be put in place. The employees should be approached skillfully. The language used to address issues and coordinate must be able to motivate and move the staff to fully perform their duties (Chen, 2009.
The supervisors have a bigger share in informing the junior staff members of their duties. The language they used to direct their junior was not encouraging thus leading to poor performance. The supervisors’ failed a great deal supervisor capacity in controlling the staff members.
Training Opportunity
Departments in the institution should regularly hold meeting to discuss issues that can enable the company move forward. The departmental heads will receive good training skills in communication to ensure they use appropriate language in directing the junior workers.
Online Plagiarism Checker The supervisors will be trained on improved methods to apply in their work. When this is put in place each member will be able to perform to the required standards. The workers should be addressed in a language that will motivate them.
When counseling the employees foul language should be avoided because it can cause misunderstanding among the staff.
The supervisors proposed that the company should higher semi-skilled employees to reduce the cost of production. The move could not work since the employees need to be given knowledge and the skills to improve the service delivery.
Financial Statistics
The credited sector in Bright Link Company is financial recording and this is why we can be to scrutinize and rate the company’s performance although there are few areas that should be rectified for better performance (Gomez-Mejia et al, 2008).
The records should be updated to track down each and every shilling which is spent in the company. This will also ensure that the profit gained by the company can be utilized fully. Record keeping will be effective when better communication skills are employed.
This is the area that has been done properly the supervisors need to be appraised for proper keep of the company’s finance documents.
Public Relation
Public relation in this company will involve the customers, the employee’s welfare together with the employer’s interest. The customers are our bosses and should be given the first priority in our services. Online Plagiarism Checker They should be served extremely well to market our brands out there.
Issues that deal with the welfare of the workers should also be addressed with great concern since they are our ambassadors while working and when out of their duties. They should promote the name of the company whenever possible (Chen, 2009.
To motivate the worker, we shall allow advance payments then soft loans will be given to them to overcome financial strain. We shall get the famous people to advertise our service in and out of the city.
The relationship between workers, the employer and the customer should have a cordial relationship to attract more customers. This area was neglected by the supervisors thus lowering their performance.
Conclusion
Accompany that wishes to promote its activities like Bright Link Company has no option but to restructure its management (Gomez-Mejia et al, 2008). It should motivate the workers by paying them well, in good time and address their issues with great concern.
Communication methods should be given an upper hand due to its broad effect in implementation of the policies. Customers should be greatly considered since the company depends on the number of customers to maximize its profit.
The relationship between the company and the surrounding should be conducive to allow the company to compete favorably with other companies on the market.
The supervisors in the company failed in almost all the all areas apart from one that has been sees as financial documents.
Online Plagiarism Checker
- Confidentiality & Authenticity Guaranteed
- Plagiarism Free Content Guarantee
- APPROVEDSCHOLARS Guarantee Timely Delivery of All Papers
- Quality & Reliability
- Papers Written from Scratch and to Your Instructions
- Qualified Writers Only
- APPROVEDSCHOLARS Allow Direct Contact With Your Writer
- Using APPROVEDSCHOLARS.COM Means Keeping Your Personal Information Secure
- 24/7 Customer Support
WHY APPROVEDSCHOLARS.COM
GET QUALITY ESSAY HELP AT: https://www.approvedscholars.com/
ORDER A PAPER WRITTEN FROM SCRATCH AND TO YOUR EXACT INSTRUCTIONS (APPROVEDSCHOLARS.COM – For 100% Original Content)
