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Leadership and Organizational Culture Essay - 1817 Words

House et al. (2007) discovers that leadership and Organisational culture are closely linked together as leaders influence the culture of their organisations. Researches talk about a range of leadership definitions but it is not easy to define. (E.g. Western, 2008; Yukl, 2010). However, Cohen (2009) critically analyses definitions from Dracker (1996), Eisenhower (1969), Northouse (2004) and finally summarised the definition of leadership constitutes five elements. First of all, ask question to set direction, which means effective leaders need to listen to followers’ voice respectfully and then share the common goals and ideas with them. In addition, leaders need to seek insights and allocate resources optimally; act ethically; allow their†¦show more content†¦Initially, the big five traits contains Surgency, Conscientiousness, Agreeableness, Adjustment and Intellectance. With regard to conscientiousness, it involves dependability (loyalty) and need for achievement. Acc ording to Kellaway (2010), she indicates that Lord Sugar asks his employees for absolute loyalty. After the interview with him, she turned to his Personal assistant (PA) who commented Alan Sugar as a polite man instead of bullying in public views. Then Kellaway supposed she was probably afraid to say so and this may be the only reason why she could still work for him. Another interview (with BBC Journalist), Alan Sugar acknowledged himself as â€Å"got a strong work ethic and dislike people who work him for nothing† which freshly shows his tough requirements of achievement-oriented. The implication of these traits is positively encourage his followers to make their efforts to do the right thing in their positions but it will also make them feel a sense of pressure due to they had no chance to show efforts but results (E.g. in â€Å"The Apprentice†, candidates will be sentenced by the final achievements rather than what they did during the project). In addition, the fin al 14 candidates of â€Å"The apprentice† were elected from massive rigorous selection procedures; therefore, apparently, Alan sugar as a boss must have the same traits as these candidates. For example, oneShow MoreRelatedLeadership And Culture Of The Field Of Organizational Leadership1058 Words   |  5 PagesLeadership and Culture Ethical Leadership According to research theories in the field of organizational leadership, â€Å"powerful leaders can have substantial impact on the lives of followers and the fate of an organization† (Yukl, 2006, p.340). Nevertheless, Heifetz (1994) points out, â€Å"there is no ethically neutral ground for theories of leadership, because they always involve values and implicit assumptions about proper forms of influence. The complexity of issues surrounding ethical and unethicalRead MoreLeadership Theory And Organizational Culture1361 Words   |  6 PagesAbstract The role of leadership has evolved over the years. 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Victorias Secret Free Essays

Store location is an important decision for retailers because location is â€Å"typically one of the most influential considerations in a customer’s store-choice decision† (Retailing, 167). Most consumers choose which store to visit based on close proximity to home or work, comfort level, and other surrounding retailers so shopping stays relaxing and a lot of driving isn’t needed. Victoria’s Secret in the Beverly Center is in a shopping mall. We will write a custom essay sample on Victorias Secret or any similar topic only for you Order Now Reasoning behind the store being placed in the mall across from the elevators in the center is because malls have high amounts of traffic. Another reason why a mall location has its advantages, because malls provide the chance to combine shopping with entertainment, a great place to walk around catch up with friends while getting your shopping done, bringing in large numbers of people a day. Victoria’s Secret in the Beverly Center is a leader in lingerie, with Fredrick’s of Hollywood as their largest competitor is far from this location. Therefore shoppers at the Beverly Center who are looking for affordable lingerie will venture in to Victoria’s Secret. Victoria’s Secret is a multi-channel retailer, from stores, to online, to catalogs. This an advantage to the company because if a customer cannot find an item, or color they are looking for in the store, they have two other methods of how to purchase that item, still making Victoria’s Secret a profit and keeping the loyalty of the consumer. Victoria’s Secret is a leader in the retail industry not only because of the products they put out but because they understand the â€Å"3 most important things of a retail chain, location, location, location†(Retailing, 167). Work Citied Levy, Michael, and Barton A. Weitz. Retailing Management. Boston: McGraw-Hill Irwin, 2009. Print. How to cite Victorias Secret, Essay examples

Business Model of Walmart-Free-Samples for Students-Myassignment

Question: Discuss about the Business Model of Walmart. Answer: Introduction A business model is a blueprint, used by businesses, to identify the various ways in which it will run its services. Business models highlight the means of operations incorporated by a business to help improve service and maximize profits. Business models are part of the strategic plan of an organization. Different organizations employ different business models, as they deal with a different variety of products and target different market shares. The construction of a business model is in alignment with the value proposition of the business (Osterwalder, Pigneur, Bernarda, Smith, 2014). The value proposition is a direct view of the benefits the business aims at providing to its clients and target population. There are multiple business models, due to increase in globalization. As companies compete to gain a competitive advantage over each other (Parnell and Lester, 2008), they employ different business models. One such organization is the Walmart Stores. Walmart Stores Incorporation Walmart is the Worlds largest retail store (McGee, 2018). The store has its headquarters in Bentonville, Arkansas. Walmart uses various methods of operations, one being the Sams Club. Through this, Walmart provides services to various parts of the world including the United States, Brazil, Mexico, and China. Walmart operates on an international market and serves over fifty million customers daily. The store provides inventory services to its customers. It deals with a wide variety of products among them being garden supplies, electronics, health and beauty supplies, furniture, sporting attire, and equipment, as well as children accessories and toys. With increased globalization, the store faces various benefits as well as challenges. Among the significant benefits are increased market share, use of advanced technology, and efficient workflow. The significant challenges faced by Walmart include competition from other firms, legal and regulatory laws, and myriads of cultures in the bus iness environment. However, despite these challenges, Walmart is still the largest retail shop in the world and enjoys much of the market share. The business model it incorporates gives it its competitive advantage over other firms (Parnell and Lester, 2008). Walmarts Business Model Canvas A business model canvas is a chart that comprises of all activities undertaken by a firm. Walmart employs the Osterwalder and Pigneurs model, which incorporates the nine building blocks. It consists of various factors affecting the business, which include the principal partners, essential activities, crucial resources, the costs and financial structure, customer relationships, channels, revenue streams, and customer segments (Osterwalder Pigneur, 2010). These factors are incorporated into the business value proposition. Key Partners Key partners include the various stakeholders with whom the business is contact. They include all activities that build the bond between the suppliers and the buyers in the supply chain (Morschett, Schramm-Klein, Zentes, 2015). The key partners for Walmart include the suppliers and buyers. Walmart stores create a conducive environment whereby the suppliers can meet and satisfy their clients desires. Through this, suppliers gain access to a larger market, whereas the buyers have a wide variety of options to choose. Activities Walmart runs on several business operations including the purchasing, storage, delivery of inventory as well as the overall price control. It incorporates advanced technology to help in the movement of inventory along the supply chain. As a result, the company enjoys lower operation costs, while at the same time providing efficiency in its workflow. Resources Walmart seeks resources from different locations, thus attaining the cost leadership advantage. Through this advantage, Walmart stores incur low production costs, which appeals to its advantage of providing services at low costs. Other resources include the inventory stores and logistics for operations, the human resources, managers, and the organizational culture. These resources help in streamlining workflow in the organization. The Cost Structure The cost structure refers to a model aimed at reducing operating costs through economies of scale. Globalization played a crucial role in aiding the organization to gain the economies of scale. These economies of scale reduce operation costs mostly due to the factors associated with the use of advanced technology. Additionally, the store passes on a percentage of the operating costs to suppliers. Customer Relations Walmart creates an environment that is conducive to the customers. The store advocates for self-service where customers can access their desired products easily. The store seeks supplies in bulk, thus stocking them to feed the ever-increasing number of customers. Customer segmentation Additionally, the store controls prices of prices to meet the levels of each consumer. These levels include the brand-aspirations consumers, price-sensitive consumers, and the value-price buyers. Distribution Channel The company store the excess inventory, from suppliers, in its warehouses. Through this, the company can easily distribute the products, to the various stores, when the demand arises. Additionally, it uses the client segmentation technique to determine how it will distribute products and goods. Revenue streams Majority of the revenue of Walmart arise from the sales it makes to the different customers in the various segmentations. The company also sells its products and brand thus increasing the revenue. Moreover, the company firsts sell products from suppliers before paying. Value proposition A value proposition is the core part of operations in the industry. The companys activities aim at achieving this objective. Walmarts value proposition is directed towards offering Every Day Low Prices (EDLP). Additionally, Walmart aims at being a one-stop supply store where customers can access all their desired products, thus saving them time and money. Key Relationship The nine building blocks of the business are integrated with each other. They all provide ways of achieving better services for the business. The critical component of the nine building blocks in the business model canvas is the value proposition for Walmart. As it aims at providing low prices and saving time for consumers, Walmarts supply chain relies on these factors. The company relies on the internal factors of operations to improve their external service providers. The internal factors include the key activities, resources, partnerships, and the costs structure. The external factors relate to service provision, which includes distribution channels, revenue streams, customer relations, and customer segmentation. Walmart ensures that it considers these factors simultaneously for the benefit of the company. Critical Success Factors Walmart faces competition from other global terms. Although it maintains its top position of being a leader in the global production of retail services, the business has had to consider various success factors in its operations (Casadesus-Masanell and Ricart, 2012). One of the factors is the use of advanced technology. Walmart offers its services to a global market, and thus there is need to meet the relevant factors to ascertain efficiency. Technology ensures that the business enjoys a streamlined way of operating. It also ensures that the company keeps a clean record of its inventory and its movement along the supply chain (Stadtler, 2015). Technology saves the company the labor costs and reduces the time consumed in running operations. Walmart needs to consider the culture of the area it is operating. To be successful, Walmart needs to emphasize on inclusion as its primary operation strategy. Inclusion refers to creating a conducive environment, where the business and the surrounding community relate harmoniously. Walmart can achieve this by respecting and adopting the communitys culture as well as participating in community-based operations. This creates a good rapport with the community, resulting in business growth (Morschett, Schramm-Klein, Zentes, 2015). Downside Risk Although Walmart has a useful operating system leading to its overall success, the company is prone to several challenges. One of the significant risks is the changes in the laws and regulations affecting operations. As it operates in different parts of the world, the host countries can deploy unattractive laws and regulations, which limit the operations of the business (Rothaermel, 2015). Recommendations Walmart can consider several actions to improve service delivery. First, it can employ policies, which are customer focused. Additionally, the company can advocate for the need for improved innovation (Clauss, 2017). Innovation allows the business to incorporate new strategies aimed at improving service delivery, while at the same time developing a persons abilities. The company should also consider policies that will advocate for social responsibility and sustainability (Wells, 2013). This means the provision of services in a manner that will ascertain the development of the society more sustainably (Rothaermel, 2015). Conclusion A business model is a blueprint that highlights the techniques employed in business to meet sustainable growth and maximize profits. Walmart, being a leading service provider for retail activities, employs the Osterwalder Pigneur business model, which highlights nine fundamental building blocks. The nine building blocks relate with each other simultaneously to aid the store to achieve maximum output in overall service production. Walmart considers critical factors such as the culture and technology to maintain its success. However, the company faces risks in its operations, including the changing laws and regulations, which could affect its operations. To improve service delivery, the business can incorporate various strategies such as advocating for social responsibility and growth, innovation, and customer-focused strategies. References Casadesus-Masanell, R., Ricart, J. E. (2012). 22 Competing through business models1.Handbook of Research on Competitive Strategy, 460. Clauss, T. (2017). Measuring business model innovation: conceptualization, scale development, and proof of performance.RD Management,47(3), 385-403. McGee, R. (2018). How large is Walmart? A Comparison of Walmart Sales to Nations GDP.SSRN Electronic Journal. https://dx.doi.org/10.2139/ssrn.3102735 Morschett, D., Schramm-Klein, H., Zentes, J. (2015).Strategic international management. Springer. Osterwalder, A., Pigneur, Y. (2010).Business model generation: a handbook for visionaries, game changers, and challenges. John Wiley Sons. Osterwalder, A., Pigneur, Y., Bernarda, G., Smith, A. (2014).Value proposition design: How to create products and services customers want. John Wiley Sons. Parnell, J. A., Lester, D. L. (2008). Competitive strategy and the Wal-Mart threat: positioning for survival and success.SAM Advanced Management Journal,73(2), 14. Rothaermel, F. T. (2015).Strategic management. McGraw-Hill Education. Stadtler, H. (2015). Supply chain management: An overview. InSupply chain management and advanced planning(pp. 3-28). Springer, Berlin, Heidelberg. Wells, P. E. (2013).Business models for sustainability. Edward Elgar Publishing

Social Class in West and East Egg free essay sample

Throughout The Great Gatsby, Fitzgerald consistently presents us with themes and motifs that highlight and question Americas class and interactive social morals. Fitzgerald portrays America to us during one of it’s most influential and prominent decades. It is through this frame of America in the 1920s that we are brought to understand a new transition, and growing difference in the social structures in the 20s. As individuals both live and strive for the ideal American dream, we become aware of a distinct function in human society that begins draw a widening bridge in the class system. This distinct difference is shown through, obviously the lower classes yearning attempts to reach the American dream, and prescribed wealth. But more prominently The Great Gatsby provides a scope through which we are able to view the growing differences within Americas wealthiest classes, specifically with regards towards, morality and social graces. These differences in wealth are portrayed as ‘New â€Å" and ‘Old’ money, which throughout the book are categorized by ‘East’ and ‘West’ Egg, east representing old money, and the older aristocracy, and west representing the newly self made millionaires. We will write a custom essay sample on Social Class in West and East Egg or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It is through individuals who respectively belong to east and west eggs that Fitzgerald attempts to represent a changing social frame between old and new money, and the differing morals and ideals that result from the groups. Typically, throughout The Great Gatsby, Fitzgerald uses a character to embody or personify themes or motifs within in the book. Among the many qualities that Gatsby himself represents, one of the most iconic, is Fitzgerald’s use of Gatsby to represent new money, and social graces, and morality that have grown through this class, assuming this, we may interpret Gatsby’s actions as reflections of new monely archetypical qualities. Gatsby is portrayed to us as an exuberant, slightly socially obnoxious man. Keeping in mind what he represents, we see him in pink suits, monstrous mansions, and his yellow Rolls-Royce. We can draw a few interpretations from this representation of Gatsby, at first glance we notice all of these aspects of him seem to lack subtlety or discreetness. It is not necessarily classy, or, like his extravagant parties, which do not follow many distinct social, high class manners, or graces, does not attempt to present high taste. All of these qualities can be interpreted as, pretentious, or vulgar, in the display of wealth, or lacking common social graces. However this is not the only portrayal of Gatsby. Gatsby is alos seen throughout the book to have a sense of conviction, we see him as determined and loyal, with a strong foundation, based in his love for Daisy. On page 145 we observe a dialogue between Gatsby and Nick that begins, â€Å" He wont touch her,† I said. â€Å"he’s not thinking about her† I don’t trust him, old sport† â€Å"how long are you going to wait? † â€Å"all Night if necessary. Anyhow, till they all go to bed†(145) Here we are witnessing the scene where Gatsby waits outside Daisy’s house after conflict with Tom, and Myrtles death. This is a prime example of the determination, and loyalty that Gatsby represents. With regard to keeping in mind that Gatsby is a portrayal of ‘new’ money, we can assume these to be qualities, and morals Fitzgerald intended to reflect on the class of new money, through west egg. Similar to the use of Gatsby to personify the values and morals of the west egg, or new money. Fitzgerald uses characters to reflect qualities of east egg, or old money. Most prominently through the book, we are presented with the Buchanans’ embodying Fitzgerald’s intended reflection of the old aristocracy. We begin to notice a difference in the way in the way new and old money are presented, simply by the description of the Buchanan’s home, â€Å"Their house was even more elaborate than I expected, a cheerful red-and-white†¦. jumping over sun-dials and brick walks and burning garden†¦The front was broken by a line of French windows, glowing now with reflected gold and wide open to the warm windy afternoon†(7) Fitzgerald paints an image of class, and elegance based simply on the Buchanan’s home, it shows us that their environment almost radiates a sense of status and grace. This can be closely juxtaposed next to the description of Gatsby’s house â€Å"it was a factual imitation of some Hotel de Ville in Normandy†¦spanking new under a thin beard of raw ivy, and a marble swimming pool.. and more than forty acres of lawn and garden. †(5) Which confronts us with a more arrogant, or ostentatious, portrait of Gatsby, his mansion isn’t displayed to the reader with the same elegance, or grace as the Buchanan’s house, but rather statement of flashy wealth. Similar to the portrayal of Gatsby himself. However it is underneath this facade of class and grace that the Buchanan’s reflect, that we may observe. Keeping in mind what both individuals represent, We see a clear difference In Gatsby and the Buchanans, through chapters 8-9, after myrtle’s death, we see both parties true colors. As Tom and Daisy flee, leaving the tragedy, not to deal with it. Gatsby’s good qualities such as love and loyalty lead to his death, where the Buchanan’s qualities of selfishness and arrogant inconsiderate disposition, allow them to withdraw themselves from the situation. Looking directly at the characters, proves to reveal just as much as the description of their environment, and behaviors. Fitzgerald provides yet another scope into the classes that Gatsby and the Buchanans represent. We are provided with the description of Tom as, â€Å"Now he was†¦rather hard mouth and a supercilious manner. Two shining arrogant eyes had established dominance over his face and gave him the appearance of always leaning aggressively forward. † (6) ?We see Tom portrayed as a man who feels a right to condescend, and behave rashly towards others, he seems to radiate a sense of entitled superiority. Through this we can see that Fitzgerald meant to have Tom represent old money as an entitled and aggressive entity After examining these qualities of individuals associated with west and east egg, thus representing old money. It can be easily stated that Fitzgerald intended to provide us with a sense of a growing divide within the social operations of the upper class. We have come to identify East egg, or old money, as classy, maintaining social graces, and elegance. However they are equally inconsiderate, selfish and arrogant. West egg, or new money is shown as flashy, and slightly obnoxious, exuding class, but parading it around. However we see in Gatsby, a higher sense of moral, and loyalty. Perhaps even more of a humanity. It was through west and east egg, and their interactions, that Fitzgerald was able to present us with this dynamic interplay of society and class.

Development of Perspective in the Renaissance essays

Development of Perspective in the Renaissance essays An understanding of this new interplay of technology and science helps us to understand the emerging interdependence between instrumentation and representation inherent in perspective. It has been shown that the origins of perspective are integrally linked with a redefinition of knowledge that began in the latter thirteenth century and continued on. The creation of perspective in relation to the importance of the developments during the Renaissance period has an enormous impact on the tools and methods that we still see today, in sciences and arts, to name just two areas. The effects of perspective were wide spread and allowed technology to advance at a much faster rate as understanding came more fully about the world around and this led to new links between observation and representation. But from what we know it wasnt until the 1550s that a treatise explained the why, how and wherefores of the origin and implementation of perspective. During the first half of the fifteenth century when Brunelleschi, Alberti and others were establishing its principles, nothing precise appears to have been written on its origins. A first mention occurred in Filaretes Treatise on Architecture (1464), who believed that Brunelleschis demonstration involved a mirror, but offered no clue why he began his studies. Manetti, in his Life Of Brunelleschi (1482-1489), implied that perspective arose from architectural interests but did not elaborate. Luca Pacioli, in his Summa (1494), mentioned the use of perspective in contemporary painting but was silent about the question of origins. The first half of the sixteenth century brought no serious change. Pelerin (1505), Pacioli (1509), Ringelbergius (1535) in their treatises on perspective referred mainly to an artistic context but made no mention of Brunelleschi, Alberti or Filarete. Thus we come to Vasaris Lives of the Artists (1550). He looked for the origins of perspective in pai...

Louis ghost armchair Assignment Example | Topics and Well Written Essays - 500 words

Louis ghost armchair - Assignment Example The Louis ghost is a modern chair with a medallion backrest for leisurely comfort, the chair is well balanced and suitable for indoor and outdoor use, fit for a king. Philippe Starck designed the Louis ghost armchair as a contemporary take on style of a French king Louis xv. The chairs are luxuries; comfortable and super stylish, hence it encompasses the elegance of royal taste on a peasant’s budget. Taking on a number of the styles of its original design, I find it more interesting that the Louis ghost armchair is designed modernly and very comfortable furniture. It was molded in durable and shock-resistant polycarbonate. The chairs are available in various colors that suit any interior or exterior setting. Rather than being made out of mahogany wood like its forerunner, it was created out of polycarbon, making the chair both lightweight as well as durable. The Louis ghost armchair also helps solve one worrying problem common with furniture, when moving or keeping. Unutilized furniture space is a key issue but with the Louis ghost armchair, this is solved as the design allows the chair to be slanted on top of the other with each fitting into the r hence occupying minimum space during transportation or storage. The ghost name comes from its transparent look giving it the illusion of a ghost. In this context, Louis ghost armchair is considered as a key contributor to art deco as its designing style is characterized by the use of modern technology with the use of new material, such as polycarbonate.

The Role of the Piligimage of Grace in the Henrican Reformation Essay

The Role of the Piligimage of Grace in the Henrican Reformation - Essay Example The consequence of the separation from the Catholic Church was the birth of the Protestant denomination. This change was not without challenge however, and in 1536 an uprising of more than 40,000 insurgents in Yorkshire. This uprising, known as the Pilgrimage of Grace, was the largest that the King had faced and as a consequence he was forced to respond to it carefully, resulting in the Pilgrimage having a significant role in the Henrican Reformation. The Pilgrimage of Grace The title the Pilgrimage of Grace is used to refer to one of two things. First, it can refer to the series of revolts that occurred between 1936 and 1937. The revolts are well-documented and were rebellions against Henry VIII and his rule, specifically the dissolution of monasteries and charities. From October to December of 1536 there was a revolt specifically titled the Pilgrimage of Grace which bore a banner with the five wounds of Christ. Technically, the term Pilgrimage of Grace only refers to the second exa mple, but the use of the term to refer to the general revolts of the period is common. In the Yorkshire uprising, lawyer Robert Aske organised and led the men, with the aim of making the uprising appear more legitimate and encouraging other nobles to join. The aim of Aske and many of the other insurgents was to get the King to reconsider the way in which he was handling the country. Specifically, the nobles of the company presented a document that the King was to see, which contained 24 articles, which were religious, economical, social and political. They agreed to dissolve the revolt, if their demands were considered in a parliament and they were pardoned for their role . The pilgrimage was a significant threat to the King. Not only were his own men significantly outnumbered, but he was limited in who he could use to fight the insurgents for fear that any local soldiers that were hired would join the cause. An additional source of concern was that Henry VIII was not able to call o n the nobles for support, as he would normally have, because the nobles were part of the uprising. The promised pardon was never given, and instead Henry VIII heavily prosecuted those who were involved in the rebellion. Effect on the Henrican Reformation The reformation was already well underway by the time that the revolts began. The causes for the revolts are often assumed to be of economic basis, or as a result of conflict occurring between the nobles and the common people. An alternative proposal is that the revolts were essentially religious in nature, spurred on by members of the clergy in the North. Throughout England, but especially in the North, the church was a very important part of the community. The reforms that Henry VIII was instigating represented a large threat to these values . The Pilgrimage was for the most part ineffective at its goals, England did not return to the Catholic Church but instead pressed on towards Protestantism, and the dissolution of monasteries and churches continued. The articles that the insurgents presented to the King were largely ignored, and despite the promise of a pardon, those that played a role in the revolts were prosecuted heavily and often

Bugatti (Veyron) Marketing Case Study Example | Topics and Well Written Essays - 1250 words

Bugatti (Veyron) Marketing - Case Study Example The company has some exclusive strategies which add to the brand value and creates strong brand equity in the customer mind. If a potential buyer is deemed serious enough to buy the car then the company brings in Pierre-Henri Raphanel , grand prix driver, to give the potential customer a test drive. Also the company keeps on bringing out ‘Special edition’ models like the EB 16.4 Veyron pur Sang, Bugatti Veyron Fbg par Hermes or the EB 16.4 Veyron Sang Noir. The company depends on various environmental forces, which affect its business. Competitor might produce technologically superior products or the prevailing economic rescission might have some effects on sales, though its buyers are comparatively less affected by it. Though the company has strong and powerful competitors in the shape of marquee names like Mercedes, Porsche, Lamborghini and others, yet the fact that Bugatti produces the fastest and the most expensive car in the world creates huge brand pull for the com pany and helps in adding an exclusivity factor to its positioning. The Bugatti brand and therefore the Bugatti Veyron brand follows core values of elegance, exclusivity, power and excellence in design. One of the foremost and prominent strategies of the brand has been to focus on exclusivity of the brand. The fact that it is the fastest and the most expensive car on the planet is itself a strong marketing pitch for the brand. Moreover form time to time the company has focused on coming out with exclusive special version Veyrons like the Bugatti Veyron Fbg par Hermes, EB 16.4 Veyron pur Sang or the Bugatti Veyron Fbg par Hermes. Another strategic move has been to expand its brand value by introducing the Bugattio Collection which consists of car accessories and fashion items, which are designed by equally exclusive and world famous artistes or designers (Displaying timeless style and elegant details , while

Combines Michael Porters Generic Competitive Strategies Marketing Essay

Combines Michael Porters Generic Competitive Strategies Marketing Essay IKEA achieves competitive advantage under the cost leadership strategy by producing at the lowest possible cost. Wherever possible, under this strategy IKEA will reduce costs at every stage of the value chain and either charge lower prices or charge competitive prices resulting in relatively high profit margins. IKEA cuts costs constantly and is always asking its makers to seek the least costly suppliers. IKEA also, seeks to offer prices much cheaper and target very wider audience. Therefore, to be able to achieve required margins. Differentiation Strategy: In the differentiation strategy, IKEA look for competitive advantage by offering products that are perceived to be different and better than competitors products by customers due to its unique characteristics, e.g. quality of the products. Focus Strategy: The focus strategy has two variants i.e. Cost Focus and Differentiation Focus. This is where IKEA focuses on a narrow segment of the market. This is where IKEA focuses on a narrow segment of the market and applies a Differentiation strategy. IKEAs Hybrid Strategy: IKEA uses a combination of these strategies in achieving its vision which is Its business idea The part of the cost leadership strategy that IKEA adopts is that part aimed at producing at the lowest possible cost, so they can charge as low a price as possible to maintain their competitive advantage. For the differentiation strategy, IKEA focuses on quality designs. However, the IKEA does not do this, so they could charge a premium price. They do it to promote their brand. The differentiation focus strategy is also used in some segments of the market. For example, they produce customized plastic mats to commemorate the year of the rooster in China. Functional level strategy defines different functions within the business unit, such as sales, accounting or production, which contribute towards the success of the business level strategy. This contribution will differ from function to function, but the overall aim will be to support the overall strategy. If the strategy is to be a cost leader, then production will be integral in achieving cost advantages. Therefore, Functional strategy refers to the strategy of individual departments linked to achievement of business goals. For example, a Marketing department of a firm may have promotional or pricing strategy, while a finance department will have a credit control policy. Similarly, IKEA has functional strategies aimed at achieving its vision and business ideas. For example, under the Marketing function, IKEA increased its distribution channels by opening 19 new retail outlets in 2006. This is to support its business growth strategy. In the US, by the end of 2010 the number of IKEA outlets is expected to be 50, in comparison to 25 in 2006. To support its hybrid strategy, IKEA is determined to ensure that This policy applies to the research and development and well as the purchasing functions of the company. The customer perception of IKEA is that the company offers quality products at affordable prices. Going shopping at IKEAs is treated more like an event to be looked forward to by the customers, rather than a task which needs to be completed. The following quotes demonstrate how IKEA is seen by many people: If it wasnt for IKEA, most people would have no access to affordable contemporary design. IKEA makes me free to become what I want to be. Half my house is from IKEA and the nearest store is six hours away. Every time, its trendy for less money. IKEA is addressing the needs of most customers. Customers buying behaviour usually demonstrate price sensitivity, with the average shopper constantly looking for bargains or discounts. On the other hand, these same customers would look for a higher quality product over what they perceive a lower quality product where both cost the same almost always. IKEA is perceived as providing to the needs of the modern and cool as well as those with aspirations for the finer things in life. There appears to be a strong bond as parents are generally comfortable leaving their children in the shops playroom while they go about shopping, which create a trust. As it mentioned above, the IKEA strategy is a hybrid strategy, which incorporates elements of cost leadership, differentiation and differentiation focus strategies. IKEA brand is very strong, most competitors do not possess the strengths that IKEA does and, which are important in achieving a hybrid strategy. Consequently, IKEA is able to attract good quality of customers and even better is able to duplicate its quality and price ranges globally. It also has economies of scale and a strong research and development team constantly looking at innovative ways to meet its business objectives. Therefore, for the strategy to be imitated, the distinctive competencies of competitors must be strong, they must have the resource to deal with any potential price wars, and they must also have the capabilities to react to changing external environment. The main threats of IKEA come from its external environment. IKEAs threats can be measured with PESTEL, Porters Five Forces and SWOT analysis. Political, relates to the influence of government legislation and regulations on a business. Economic, how economic factors like interest rates, inflation and exchange rates affect businesses Social, refers to social trends and includes things like change in consumer taste and fashion and demographical changes Technological, level of automation and the rate of technological advancement and the impact on businesses Environmental, relates to how businesses are impacted by environmental factors such as global climate change Legal, health and safety laws Porters five forces, is a tool used to analyse how competitive pressure impact on businesses, i.e. the extent of competitive rivalry, barriers to entry, buyer power, supplier power and the availability of substitutes. SWOT, summarises the key issues from the business environment and the strategy capability of an organisation that most likely to impact on the strategy development. In IKEAs case, the main potential threats come from three of these factors, i.e. Economic, Social and Competition. In terms of economic factors, the global recession has significantly reduced business growth as customers have less disposable income and are consequently spending less. With limited income, consumers prefer to spend only on necessities mainly, and saving. Many governments affected by the recession have been putting stimulus packages in place partly to encourage consumer spending. As far as the social threat is concerned, due to a collapse of the housing and mortgage market which started the downward spiral into global recession, the amount of first time buyers, who are mainly IKEA customers, has considerably reduced. From a competitive point of view, there is the threat the extent of competitive rivalry will put at risk IKEAs strategy. For instance, it has to compete with major competitors Target Corporation and Kmart in US, Fly in France and Nitori Co. in Japan. Furthermore, increasingly buyer power will increase as competition increases demanding review of price or even design. This could potentially hurt the IKEA brand. IKEA must constantly analyse its internal and external environment to determine what the business is at for any given point in time and to identify what needs to be done going forward. For the internal analysis, IKEA must analyse its resources and capabilities with a view of making improvements as appropriate. They must always seek to ensure that their resources and capabilities are superior to those of their competitors to reduce the threat of imitation, which would eliminate their competitive advantage. In terms of the resources, they could look at the following with a view of identifying strengths and weaknesses: Finance what is the state of the business in terms of profit and loss, cash flow and the balance sheet position? Marketing they must continue to revaluate their marketing strategy. for example: Are the products priced adequately? Is the roll out of new stores meeting growth targets? Promotion how successful have the gift initiatives activities been? Product how environmentally friendly and are they to meet with any challenges? Operations IKEA could review the strengths and weaknesses of their machines, method of operations and materials used to produce furniture. Management as the founder is an old man now, this is a significant area that needs looking at. Is the management in place currently skilled enough to achieve objectives? Staff assess their motivation, their training needs and contribution to the success of the company, for example. An external audit should then be performed by analysing PESTEL SWOT is to determine the opportunities and threats facing IKEA from the external environment. Subsequently, IKEA should then be in a position to determine how it can use its key strengths, minimize weaknesses, take advantage of opportunities and triumph over threats to achieve a competitive advantage through its hybrid strategy. The greatest challenges facing IKEA can be outlined below: Entry into new markets and segments in US and Japan Environmental challenges Culture and Values As we know, IKEA over the last few years expanding in Japan and US markets. These are two countries where it has recorded failure in the past. For instance, in the US, according to them they did not listen to the needs of the customers and employed a hybrid strategy. With time, they realized that the Americans needed larger sized products which they subsequently corrected. In Japan, they miscalculated thinking the Japanese were interested in low price products when their interest was in quality. It would be interesting to see how they fare in the next 10 years for these reasons, especially with the high level of competition from Target Corp. and Nitori Co. IKEA is committed to meet environmental challenges. Another big challenge is internal in nature. The owner and founder Ingvar Kamprad instilled a lot of the values that is currently being pursued today. A lot of the top brass are committed to his philosophies. With the passage of time however, the culture of IKEA which has delivered such great success will decrease. In the next 10 years, it is important that whoever is driving the business operates in line with its core values, as the brand is one of its discriminating strengths. This brand was built on the back of the core values and business idea. Any threat to that may mean a threat to the entire business as a whole.

Ticonderoga and Crown Point :: essays research papers

The immediate object of the attack on the British Forts at Ticonderoga and Crown Point on May 10 and 11, 1775 was first to capture the forts themselves, but also to obtain a cannon and supplies to use for the impending seige of Boston. Washington, who assumed command of the American forces on July 2, 1775, could not attempt this attack without heavy artillery, which was procured by Colonel Ethan Allen, Colonel Benedict Arnold and Colonel Seth Warner with Vermont’s Green Mountain Boys. Green Mountain Boys, was the name of a group of soldiers from Vermont led by Allen, Warner and Arnold. They took their name from the Green Mountains in Vermont. The Green Mountain Boys were originally organized by Ethan Allen before the revolution to protest the claims of the New York government to Vermont territory, and were later joined by Seth Warner and Benedict Arnold. Seth Warner, was born in Connecticut and later moved to Vermont, where he was declared an outlaw in 1771 for forcibly resisting a New York claim to the area, and had a reward offered for his capture. Under Ethan Allen and Benedict Arnold, he participated in the seizure of Fort Ticonderoga and led the force that took Crown Point the next day. Later that year, he was elected lieutenant-colonel commandant of the Green Mountain Boys. Ethan Allen was also born Connecticut, moving to Vermont in 1769. He became involved in the struggle between New York and New Hampshire for control of the region, just like Allen was. The New York authorities rejected an appeal that the region be established as a separate province, and Allen organized a volunteer militia, called the Green Mountain Boys, to resist the New York cause. Volunteers were raised by the Committee of Correspondence. They recruited fifty men and three hundred pounds to set up the Green Mountain Boys. Allen too, was declared an outlaw by the governor of New York. At the outbreak of the Revolution, Allen and The Green Mountain Boys offered to fight against the British. Arnold was born in Connecticut and enlisted in the militia during the French and Indian War. Later, as a militia colonel, Arnold joined with Allen and The Green Mountain Boys to take Fort Ticonderoga .