much lower than competitors by using simple cost-cutting solutions that did not affect quality of products so that as many people as possible will be able to afford them. ( www.ikea.com). He used every opportunity to reduce costs without compromising on ideas and quality. IKEA used design‚ their main competency‚ to secure the lowest possible price by starting design with a functional need and price then using knowledge of innovation and low cost manufacturing processes to create functional products
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Mc Donald’s Strategy Strategy is a plan of action that channels an organisations resources so that it can effectively differentiate itself from competitors and accomplish unique and viable goals. (cavusgil‚ knight‚‚ 2008) McDonald’s brand mission is to be customers’ favorite place and way to eat and drink. In order to achieve this‚ its global operations are aligned to work for a “Plan to Win” strategy which entails the 4 Ps – People‚ Products‚ Place‚ Price and Promotion. http://www.aboutmcdonalds
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Competitive Advantage - Time Based Competition By D.G. Mehta B.E.‚ DMS‚ MMM PPT 1 / 9 [pic] PRODUCTION MANAGEMENT (TRADITIONAL APPROACH) BASIC FUNCTIONAL ROLE (Objectives) 1) Fully utilise man & machine. 2) Low Production Cost (Maximum Profit) 3) Production Planning & Control. 4) Control and reward people 5) Wastage Control. DETAIL FUNCTIONS 1) Inventory Control 2) Scheduling production run 3) Maintenance Programme 4) O & M 5) People Assessment & Award
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1. Answer the questions for the case “integrating McDonald ’s Business‚ Human Resource‚ and Staffing Strategies" page 49‚ Chapter 2. [ 15 Marks] Questions 1: How would you describe McDonald ’s business strategy? What are the foundations of its competitive advantage? Answer: McDonald’s business strategy is a specialization strategy. The organization is built on a foundation that gives it a competitive advantage and a business strategy that is consistent‚ flexible‚ and specialized. McDonald’s
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Based on the case study “Nucor in 2009”‚ Nucor’s business strategy can be categorized as cost leadership. There are clear evidence in the case that shows Nucor using an integrated set of actions to produce at the lowest cost‚ while still maintaining an acceptable level of quality compared to their competitors. In this critique‚ the Value-chain model will be used to illustrate how Nucor aligns their activities to this business strategy. I/ Primary structure Regarding Inbound Logistics‚ Nucor
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1. MARKETING MIX Marketing services is Marketing People. When a customer signs an underwater IRM contract‚ he is buying a service to be performed. In the end‚ he will be the owner of a tangible product‚ Inspection Report‚ but the quality and cost‚ as well as the suitability of that report as a solution to his problem depend largely on the services rendered by the contractor. The buyer’s best evidence of the quality and competitive superiority of the service he will buy is the impression he gets
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forced to comply with the living wage law. One of Walmart’s key success factors is the ability to manage their wealth in order to continue to offer customers such low prices. If the company was faced with raising employee wages everywhere‚ product costs could rise and potentially further reduce their revenue. Even more recently‚ the National Labor Regulations Board filed a complaint that stated Walmart illegally fired or discipline over 60 employees in 14 states for participating in protests and
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share product in micro chip was threaten by Chinese manufacturer. New low-cost competitors: Chinese manufacturer Samsung didn’t know yet how to respond to Chinese invasion: Low-cost‚ differentiation or both? Collaborative ANALYSES EXTERNAL ENVIRONMENT 6F Threat of new entrants (High) High economic of scale High product differentiation High capital requirements Low switching costs Easy access to distribution channels Threat of substitutes (Low) There
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from the area. Business Level Strategy: Use cost leadership strategy. This strategy is an integrated set of actions taken to produce goods or services with features that are acceptable to customers at the lowest cost‚ relative to those of competitors. By using this strategy‚ it targets a broad customer segment which concentrate how to lower their cost compared to others competitors. Related to the case‚ Datin Timah used the basic ingredients with low cost consist of cucumber‚ fried ikan bilis and hard
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in Crisis Signs of a crisis; declining performance measures e.g mkt share‚ roce‚ margins‚ revenues‚ profits‚ increasing costs‚ staff exodus Sources of a crisis Defects in management/ Poor management/neglecting key tasks Failure to change with changing environment Over-expansion Corruption Lack of resources Too much debt Poor strategy Failure to control costs/high costs Saturated mkts Poor integration High competition (unanticipated)/competitive forces Political change Change in tastes
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