International Journal of Trade‚ Economics and Finance‚ Vol. 1‚ No. 2‚ August‚ 2010 2010-023X The Use of Michael Porter’s Generic Strategies in the Romanian Hotel Industry Ovidiu N. Bordean‚ Anca I. Borza‚ Răzvan L. Nistor and Cătălina S. Mitra‚ Abstract— Porter’s generic strategies remain one of the most widely accepted typology of strategic options for businesses. Using a survey a sample of 69 hotel managers from the Nord-West part of Romania was questioned about their current strategic
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Innovations of the Upper Paleolithic The Upper Paleolithic can be considered a turning point in the evolution of human beings. During the Upper Paleolithic various cultural innovations changed the way people would like their lives from that point forward. Perhaps the most important of these innovations being stone tools and blades‚ the domestication of dogs‚ art‚ and evolution of self-identity. The manufacturing of stone tools and blades was very apparent during the Upper Paleolithic The emergence
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INNOVATION AT 3M CORPORATION: CASE STUDY There are two major issues highlighted in this case study: 1. Is the ‘lead-user’ process‚ an effective method for research and subsequent product innovation? 2. Should the Medical-Surgical Markets Division (MSMD) lead-user research team present its revolutionary new approach to treating infection to senior management despite the fact that it challenged the existing business strategy? QUESTION 1 The answer to the first question is ‘yes’. By the
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Porter Five Forces – Degree of Competition The UK banking industry is made up of three distinct types of competition which include the following (OFT‚ 2010): · Retail banks - Accept deposits and use these funds to make loans as well as offering other financial products to consumers and firms. Lloyds Banking Group‚ Virgin Money‚ Metro Bank‚ · Universal banks which not only offer retail banking services but also offer wholesale and investment banking services. For example: Barclays‚ HSBC
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Porter analysis of Zara Zara fashion chain‚ with 546 stores in 30 countries today from which 340 are outside Spain- and 2914‚3 millions of total sales in 2002‚ is undoubtedly the group’s locomotive (Inditex‚ 2003). In 2002 it represented 33% of the group’s total stores‚ accounted for 72% of the group’s total sales and contributed to the holding’s total profits for 540.4 millions (Inditex FY2002 Results Presentation‚ 2003). Moreover‚ Zara with 75-90 new stores within 2003 takes the lion’s share
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Michael Norman Manley (December 10‚ 1924 – March 6‚ 1997) was the fifth Prime Minister of Jamaica (1972 – 1980‚ 1989 – 1992). The second son of Jamaica’s Premier Norman Manley and Jamaican artist Edna Manley‚ Michael Manley was a charismatic figure who became the leader of the Jamaican People’s National Party a few months before his father’s death in 1969. Contents [hide] 1 Reforms 2 Diplomacy 3 Violence 4 Opposition 5 Re-election 6 Family 7 Retirement and death 8 Sources
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Position Paper Introduction Innovation is seen as difficult in many countries around the world‚ innovation strategies are not inclusive to all countries but vary in each country. To minimise the situation within these countries many firms in particular small business see innovation as a high financial commitment that may also be very risky to the business operations. The reason for this tendency is due to the limited hospitality innovation studies needed as a foundation to support management’s
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1. Introduction - What is Innovation? Innovation refers to the act of creating new products or processes. There are two main types of innovation: • Product innovation • Process innovation. Product innovation is the development of products that are new to the world or have superior attributes to existing products. Process innovation is the development of a new process for producing products and delivering them to customers. Examples include Toyota‚ which developed a range of new techniques
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Sustainable Innovation Key conclusions from Sustainable Innovation Conferences 2003–2006 organised by The Centre for Sustainable Design Martin Charter & Tom Clark The Centre for Sustainable Design University College for the Creative Arts www.cfsd.org.uk May 2007 Contents 1 Introduction 05 2 Definition and importance of sustainable innovation 09 3 Drivers 12 4 ‘State of the art’ and application 15 5 Obstacles 20 6 Policy needs 28
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organizational and social innovation and strategies centered round new concepts of frugal innovation. It has been suggested that some of these developments reflect specific socio-economic and framework conditions peculiar to the Indian context. At the same time many Indian firms have yet to institute systems and procedures required for supporting technological‚ product and service innovations. The existence of formal R&D departments/divisions‚ offers a ritualistic fig leaf for innovation practice. The
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