discipline‚ a fifth ‘P’ was added — People. And recently‚ two further ‘P’s were added‚ mainly for service industries — Process and Physical evidence. These considerations are now known as the 7Ps of marketing‚ sometimes referred to as the marketing mix. 1. Product There is no point in developing a product or service that no one wants to buy‚ yet many businesses decide what to offer first‚ and then hope to find a market for it afterwards. In contrast‚ the successful company will find out what
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Six Sigma seeks to improve the quality of process outputs by identifying and removing the causes of defects (errors) and minimizing variability in manufacturing and business processes.[4] It uses a set of quality management methods‚ including statistical methods‚ and creates a special infrastructure of people within the organization ("Black Belts"‚ "Green Belts"‚ etc.) who are experts in these methods.[4] Each Six Sigma project carried out within an organization follows a defined sequence of steps
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a) Return on equity measures a company’s profitability by calculating how much profit a company generates with the money shareholders have invested. It is important to consider ROE and not just net income in dollar term because it helps for making comparisons among different investment amounts. b) ROE uses shareholder’s investments to measure the effectiveness and profitability of the company. RNOA uses the total asset base invested by both creditors and shareholders to measure the effectiveness
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Revenue Recognition 1a Identify and explain when the company recognizes revenue The Consolidated Statement of Earnings on page 39 of the 2011 10K describes the 2 sources of revenue: retail sales and credit cards. Page 33 of the notes state that they recognize revenue from sales at their retail stores at the point of sale‚ net of an allowance for estimated sales returns. Page 43 describes revenue from sales to customers shipped directly from stores and online and catalog sales includes shipping
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Term Paper On The Breakthrough Management Strategy Revolutionizing the World’s Top Corporations “SIX SIGMA” TABLE OF CONTENTS S.No TOPICS PAGE No. 1. Acknowledgement 3 2. Objective 4 3. Introduction 5 4. History 7 5. Central Concepts 8 6. Process 9 7. Scale of measurement 10 8. Methodology 11 9. Tools and Themes 12
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Six Sigma: Definition and underlying theory§ Roger G. Schroeder a‚*‚ Kevin Linderman a‚1‚ Charles Liedtke b‚2‚ Adrian S. Choo c‚ Motorola originally developed Six Sigma in 1987 and targeted an aggressive goal of 3.4 ppm defects (Barney‚ 2002b; Folaron‚ 2003). In 1994 Larry Bossidy‚ CEO of AlliedSignal‚ introduced Six Sigma as a business initiative to ‘‘produce high-level results‚ improve work processes‚ expand all employees’ skills and change the culture’’ (ASQ‚ 2002‚ p. 14). This was followed
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Phoenix MKT421 - Marketing Mix The marketing mix is comprised of four basic marketing strategies. The four strategies‚ which include product‚ place‚ price‚ and promotion‚ involve the decisions that a business must make to succeed. The marketing mix is reliant on how clear and defined the business’ target market is and how well the company directs the strategies towards its targeted market (Glenco McGraw-Hill‚ 3rd Edition). This paper will further define marketing mix‚ the four strategies‚ and
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Malmo Bakers & Sweets Introduction: Malmo is a bakery chain with its outlets in Lahore. Malmo’s chairman Shaikh Mumtaz inaugurated Malmo sweets and bakers 1st branch on Aug 13th 2012 at Chung stop Lahore. Malmo desires to provide quality food with low price to their customers. Malmo sweets and bakers is a family inherited business and they are professional in sweets and bakers. Malmo wants to meet the demand of people with reasonable prices. Malmo wants to open its branches all around in Pakistan
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Six Flags Financial Crisis Capitalistic Enterprise Business 10A Edward Bayone May 7‚ 2010 Table of Contents A. Introduction B. Financial Crisis C. The Economic Environment D. Competition E. Changes F. Conclusion G. Exhibits H. Work Cited 3 5 8 9 10 12 13 15 “This year is very much about stabilizing the company and keeping it on the rails while at the same time pursuing growth avenues on the marketing and international front.” -Mark Shapiro‚ Six Flags CEO A. Introduction Founded in
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Like its predecessors‚ Six Sigma doctrine asserts that: Continuous efforts to achieve stable and predictable process results (i.e.‚ reduce process variation) are of vital importance to business success. Manufacturing and business processes have characteristics that can be measured‚ analyzed‚ controlled and improved. Achieving sustained quality improvement requires commitment from the entire organization‚ particularly from top-level management. Features that set Six Sigma apart from previous quality
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