Both these employees have shown their innovative approach at work and more than efficient attitude. As for Humbolt, he suggested the best project for the company by acquisition of Schnapps Brand. While the project investment is under the limits of capital budgeting, it is also enticing in terms of profitability and diversity to approach the varied class of customers. On the other hand, it was Morin who designed the price war and was the lead advocate, is yet another deserving candidate to lead the
3.2 RANGE OF STRATEGIES THAT CAN CONTRIBUTE TO A BUSINESS COMPETITIVE ADVANTAGE When a business thrives in gaining competitive advantage, it often sets eyes on a manifold of strategies that aim to em-better its image and its competitive positioning. It focuses on strategies that may help increase its rate of consumers acquisition, retention and satisfaction; strategies of industry and competitors analysis. Moreover, it sets eyes on those strategic process to build strong investments portfolios ( Liquidity) that can help establish longevity and leadership in the market. Competitive advantage inevitably leads to faster, continual exponential growth, increased sales, market share gains and overall business profitability. Competitive
good vision, mission, leadership, resources, strategies and its formulation and implementation, effective management system whereas, highly motivated and dedicated employees are also a key for a success business. Lacking of any of these factors may hamper the core business objectives. Creating customer value or being customer centric is another key function of smooth business. These factors are very important for driving an organization to survive, grow, earn profit, meet its objectives and gain high market share to create brand value in market. Company which has a strong brand value and vision will be able to expand its business from domestic to foreign market.
Because of intensified market competition, PTT strive to operate its business operations in align with a sustainability strategy by maintaining a balance of being a high performance organization and of an endeavor to the continuous improvement of technology, innovation and knowledge. It enhances business operations based on knowledge, expertise, experiences of personnel and cooperation among companies in PTT Group. It possesses a lot of experiences, important lessons learned and powerful resource to get this long-term survival. Knowledge management capability plays important roles of to utilize successfully the PTT’s company’s resources in order to improve performance. To summarize, organization’s strategy should pay high attention on developing and implementing KM practices in the organization.
When we talk about resource based view it is necessary to mention that we are referring on a type of a management device which is used as a great tool in order to evaluate quality and the amount of business strategic assets. The amount of useful strategic assets has its purpose by supporting comparative advantage in order to boost performance of the company to the higher level of operation in comparison with competition. Firm capabilities, potential and possibility to run on the competitive market, among others can be measured with SWOT&VCA (strengths, weaknesses, opportunities, and threats/ value chain analysis) analysis, Porter's five forces model, and VRIO framework. We are already well familiar with all of those analysis and their positive
• The organized structure and management team of IFFCO enables it to overcome any uncertain risk with collaborative efforts. • The company’s success due to its predicting and fulfilling the customer needs along with focus on customer’s need is the core competitive edge over its rivalry. Weakness: For such a large and multi-product company, identifying weakness may be hard but the key weaknesses identified are: • Strong
2 Importance of Cash and Profit Profits enables producers assess their success in a business venture. The motive of every business is to earn profit. Profit is the reward gained for taking risk in a business; it is the return on investment. Profit help businesses generate employment; it induces more investment and innovation and the expansion in business will result in the need for more employment. Profits are also, vital for business survival; a business will not grow and survive without making profit, therefore, profit is essential for continuous operation, motivation of staff, attraction of investors, and it builds confidence in the business.
To describe how the numbers match up and how they will finally lead to a profit. This section will spot light main point that how far business stands from reaching the breakeven point and when the venture will go profitable. 1.1.2 Business Model A pathway that proves to be successful and helpful in making the venture more and more profitable it may include the expected sources of revenues, identification and focusing on customer and consumer base, products, and different ways of financing. Business models are used shape the business, especially in an business environment, but they are to be used by the decision makers so that the problems are identified and solved on proactive basis. A business model in simple words is “how a business is going to earn from the market” It
The most important skills required in a marketing job are mentioned in the report with the advantages they have so as to make a person have self and job growth. Transferable skills are skills that help you move into and exceed expectations in a new career. They guarantee you expert strength and the long life span of
Information and Communication are the two vital tools for success in current business scenario. This is of utmost importance for Individuals as well as organizations. Information is money and key to success. Organizations that upkeep internal as well as external information have a competitive edge over their competitors. Human resource information systems (H.R.I.S.)