Quality Cost 1 Quality is defined from the customer´s point of view l Performance l Performance or the primary operating characteristics of a product or service. Example: For a car‚ it is speed‚ handling‚ and acceleration. For a restaurant‚ it is good food. l Features l Features or the secondary characteristics of a product or service. Example: For a TV‚ it is an automatic tuner. For a restaurant‚ it is linen table cloths and napkins . l Reliability l Reliability
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of management Dogfight Over Europe: Ryanair (A) | Case Analysis Overview Cathal Ryan and Declan Ryan have started Ryanair since 1985. For nearly a year‚ Ryanair had operated a 14-seat turboprop between Waterford and Gatwick Airport on the outskirts of London. The airline targeted low-fare segment market. It initiated service from London’s secondary airports. In terms of competition‚ Waterford and Gatwick didn’t pose any challenges. In 1986‚ Ryanair gained a license to operate between Dublin
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Ryanair’s launch strategy? Ryan brothers took account about various factors when he launched his company‚ the key choices from were: first‚ they chose the most lucrative route possible (at the moment one of the most lucrative routes for their competitors)‚ and with a potential growth if they can attract passengers from train or sea ferries. In second‚ his position as late-movers‚ allowed them to enter in the market with a lower price than its competitors. A lower price is a good strategy to quickly
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3 Cost-Volume-Profit Analysis Learning Objectives 1. Explain the features of cost-volumeprofit (CVP) analysis 2. Determine the breakeven point and output level needed to achieve a target operating income 3. Understand how income taxes affect CVP analysis 4. Explain how managers use CVP analysis in decision making 5. Explain how sensitivity analysis helps managers cope with uncertainty 6. Use CVP analysis to plan variable and fixed costs 7. Apply CVP analysis to a company producing multiple
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Review Case Study Dogfight over Europe : RyanAir 1. Overview of RyanAir RyanAir was founded in 1985 by Tony Ryan who former has been worked in Aer Lingus. It established to provide schedule passanger airline services between Ireland and UK as an alternative flight to the state monopoly carrier‚ Aer Lingus. Initially‚ RyanAir was a full-service conventional airline‚ with two classes of seating and leasing three different types of aircraft. RyanAir’s objective was to maintain its position as Europe’s
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Ronald Coase noted‚“The cost of doing anything consists of the receipts that could have been obtained if that particular decision had not been taken.” For example‚ the opportunity set for this Friday night includes the movies‚ a concert‚ staying home and studying‚ staying home and watching television‚ inviting friends over‚ and so forth. The opportunity cost of taking job A included the forgone salary of $102‚000 plus the $5‚000 of intangibles from job B. Opportunity cost is the sacrifice of
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Each and every person has the potential and free choice to pursue a career as an entrepreneur. ANS: T PTS: 1 NAT: AACSB Reflective Thinking | Motivation Concepts KEY: pg 29 2. The generation of the 21st century may become known as generation E because they are becoming the most entrepreneurial generation since the Industrial Revolution. ANS: T PTS: 1 NAT: AACSB Reflective Thinking | Motivation Concepts KEY: pg 29 3. Determining a person’s “entrepreneurial
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is that in the long run‚ the dollar is stable—it does not lose its purchasing power. This assumption allows the accountant to add the cost of a parcel of land purchased in 2006 to the cost of land purchased in 1956. For example‚ if a two-acre parcel cost the company $20‚000 in 1956 and in 2006 a two-acre parcel adjacent to the original parcel is purchased for a cost of $800‚000‚ the accountant will add the $800‚000 to the land account and will report the land account’s balance of $820‚000 on the company’s
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TYPES OF COSTS Introduction :-Production is the result of services rendered by various factors of production.The producer or firm has to make payments for this factor services. From the point of view of the factor inputs it is called ‘factor income’ while for the firm it is ‘factor payment’‚ or cost of inputs.Generally‚ the term cost of production refers to the ‘money expenses’ incurredin the production of a commodity. But money expenses are not the only expensesincurred on the production
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Is it possible for a company or business unit to follow a cost leadership strategy and a differentiation strategy simultaneously? Why or why not? It is possible for a company to continue a cost leadership strategy and a differentiation strategy simultaneously but it does not work for everyone. Some businesses rather follow the low cost way by striving for efficiencies and economies of scale rather than focusing on differentiating themselves from the competitors in a way other than price. Some
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