Professor Michael Porter suggested three general positioning strategies to achieve competitive advantage :
Low Cost Leadership Strategy
Differentiation Strategy
Focus Strategy
The Generic Competitive Strategy (GCS) is a methodology designed to provide companies with a strategic plan to compete .The GCS is useful when a company is looking to gain an advantage over a competitor
Porter's Generic Strategies with examplesdipalij07
This Presentation is containing brief description of generic strategies with examples of companies in detail....
Hope it will be helpful to everybody....
Enjoy...!! :)
Porter's Generic Strategies with examplesdipalij07
This Presentation is containing brief description of generic strategies with examples of companies in detail....
Hope it will be helpful to everybody....
Enjoy...!! :)
Strategic formulation in Strategic managementYamini Kahaliya
This presentation is on Strategy formulation(of subject strategic management) and it covers following points :-
Define strategy formulation
Need of strategy formulation
Steps of strategy formulation
Problems in strategy formulation
Levels of strategy
Strategic Business Unit Defined
A strategic business unit is a fully functional and distinct unit of a business that develops its own strategic vision and direction.
Cost Leadership / Low-cost Business Strategy:
A cost leadership strategy is an integrated set of actions designed to produce or deliver goods or services at the lowest cost, relative to that of competitors, with features that are acceptable to customers.
Strategic formulation in Strategic managementYamini Kahaliya
This presentation is on Strategy formulation(of subject strategic management) and it covers following points :-
Define strategy formulation
Need of strategy formulation
Steps of strategy formulation
Problems in strategy formulation
Levels of strategy
Strategic Business Unit Defined
A strategic business unit is a fully functional and distinct unit of a business that develops its own strategic vision and direction.
Cost Leadership / Low-cost Business Strategy:
A cost leadership strategy is an integrated set of actions designed to produce or deliver goods or services at the lowest cost, relative to that of competitors, with features that are acceptable to customers.
Profiting from Global Expansion, Global Expansion and Business Level Strategy, Pressures for Cost Reduction and Local Responsiveness; International Strategies- International Multinational, Domestic, Global and Transnational Strategies; Strategic Alliance- Types of Competitive Strategic Alliances, Advantages and Disadvantages of Strategic Alliances
INVENTORY MODELS
One basic problem of
inventory management is to find
out the order quantity so that it
is most economical from overall operational point of view. Here that problem lies in minimizing the two conflicting costs, i.e. ordering cost and inventory carrying cost.
Inventory models help to find out the order quantity which minimizes the total costs(sum of ordering costs and inventory carrying costs).
Industrial policy is an important document that sets the tone in implementing, promoting the regulatory roles of the government.
It was an effort to expand the industrialization and uplift the economy to its deserved heights.
It signified the involvement of Indian government in the development of industrial sector.
Industrial growth of a country is guided and regulated through its industrial policies.
TOTAL QUALITY MANAGEMENT
TQM
TOTAL QUALITY MANAGEMENT
TOTAL QUALITY MANAGEMENT
Total - made up of the whole
Quality - degree of excellence a product or service provides
Management - act, art or manner of planning, controlling, directing,….
Therefore, TQM is the art of managing the whole to achieve excellence.
According to Information System:
TQM is used to assure the quality of information by ensuring, verifying, and maintaining software integrity through an appropriate methodology choice amongst the technology, design and architecture.
TQM approach of IS ensures satisfactory level attainment of these parameters through the implementation of various strategies in the process of development.
The software quality assurance is nothing but what is required which would ensure conformance to the standards set by the management. It can be done by quality testing.
A cheque is an order by the customer of a bank directing his banker to pay on demand, the specified amount, to the order of person named therein or to the bearer
According to SEC. 6 of the Negotiable Instruments Act, 1881, the term cheque is defined as “a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand.”
A promissory note is a financial instrument that contains a written promise by one party to pay another party a definite sum of money, either on demand or at a specified future date
Sec. 4 of the Negotiable Instruments Act, “A promissory note is an instrument in writing containing an unconditional order, signed by the maker, to pay a certain sum of money only to or to the order of a certain person or to the bearer of the instrument.”
A bill of exchange is a written order binding one party to pay a fixed sum of money to another party on demand at some point in the future.
According to Sec.5 of the Negotiable Instruments Act, 1881, “A Bill of exchange is an instrument in writing containing an unconditional order, signed by the maker, directing a certain person to pay a certain sum of money only to, or to the order of, a certain person or to the bearer of the instrument.
NEGOTIABLE INSTRUMENTS E- PURSE TRUNCATION OF CHEQUENavya Jayakumar
NEGOTIABLE INSTRUMENTS
E- PURSE
TRUNCATION OF CHEQUE
The word “ negotiable” means “transferable from one person to another”
A negotiable instrument is a signed document that promises a sum of payment to a specified person
Negotiable instruments are transferable in nature
Sec.13 of the Indian Negotiable Instrument Act, 1881 defines a negotiable instruments as “ a promissory note, bill of exchange or cheque payable either to order or to the bearer.”
Commercial banks also deal with these instruments. The bank collects these instruments for the customers to grant loans and advances against these instruments
Cheque Truncation System (CTS) is a cheque clearing system undertaken by the Reserve Bank of India (RBI) for quicker cheque clearance
Cheque Truncation System (CTS) or Image-based Clearing System (ICS), in India, is a project of the Reserve Bank of India (RBI), commenced in 2010, for faster clearing of cheques.
CTS is based on a cheque truncation or online image-based cheque clearing system where cheque images and magnetic ink character recognition (MICR) data are captured at the collecting bank branch and transmitted electronically.
STUDY OF PRODUCTION AND PROSPECTS OF EXPORT OF SPICES FROM INDIA Navya Jayakumar
STUDY OF PRODUCTION AND PROSPECTS OF EXPORT OF SPICES FROM INDIA
Nature has blessed with so many plants, out of which man has exploited some for his benefit. Among them are the spices, though required in small quantities, with many properties and beneficial uses
India is the home to a number of spices. It may be said that there is no Indian cuisine without the addition of one or more spices.
SAMPLING ; SAMPLING TECHNIQUES – RANDOM SAMPLING (SIMPLE RANDOM SAMPLING)Navya Jayakumar
SAMPLING ; SAMPLING TECHNIQUES – RANDOM SAMPLING
(SIMPLE RANDOM SAMPLING)
Sampling means the process of selecting a part of the population
A population is a group people that is studied in a research. These are the members of a town, a city, or a country.
It is difficult for a researcher to study the whole population due to limited resources
E.G.. Time, cost and energy
Hence the researcher selects a part of the population for his study, rather than selecting the whole population. This process is known as sampling
Also known as Random Sampling
A type of sampling where each member of the population has a known probability of being selected in the sample
When a population is highly homogeneous, its each member has a known chance of being selected in the sample
The extend of homogeneity of a population usually depends upon the nature of the research. E.g.: who are the target respondents of the research
ECB is basically a loan availed by an Indian entity from a nonresident lender
Most of these loans are provided by foreign commercial banks and other institutions
It refers to commercial loans availed from non-resident lenders with a minimum average maturity of 3 years
An external commercial borrowing (ECB) is an instrument used in India to facilitate Indian companies to raise money outside the country in foreign currency. The government of India permits Indian corporates to raise money via ECB for expansion of existing capacity as well as for fresh investments.
BONUS ACT BASICS
A bonus is an extra amount of money that is added to someone's pay, usually because they have worked very hard.
The practice of paying bonus in India appears to have originated during First World War when certain textile mills granted 10% of wages as war bonus to their workers in 1917.
CHANGE, RESISTANCE TO CHANGE, OVERCOME RESISTANCE TO CHANGENavya Jayakumar
Alternation which occurs in the overall work environment of an organization
The whole organisation tends to be affected by the change in any part of it
An enterprise can be changed in several ways. Its technology can be changed, its structure, its people and other elements can be changed.
Net present value (NPV) is the difference between the present value of cash inflows and the present value of cash outflows over a period of time. It may be positive, zero or negative.
NPV is used in capital budgeting and investment planning to analyze the profitability of a projected investment or project.
Also known as sophisticated technique for capital budgeting exercise.
It accounts for time value of money by using discounted cash flows in the calculation.
New Product development is a journey. It's the road which leads to the actual product and then the actual product to the market.
NPD requires an understanding of customer needs and wants, the competitive environment, and the nature of the market.
It is generally used to discuss the complete process of introducing a new product in the market.
The creation of products with new or different characteristics that offer new or additional benefits to the customer.
The capital which is needed for the regular operation of business is called working capital. 1- for the purchase of raw materials
2- for the payment of wages
3- payment of rent and of other expenses
Working capital is kept in the form of cash, debtors, raw materials inventory, stock of finished goods, bills receivable etc.
Size Of Business
Nature Of Business
Storage Period
Credit Period
Seasonal Requirement
Potential Growth Or Expansion Of Business
Changes In Price Level
Dividend Policy
Working Capital Cycle
Operating Efficiency
Other Factors
Working capital requirement of a firm is directly influenced by the size of its business operation.
Big business organizations require more working capital than the small business organization.
Working capital requirement depends also upon the nature of business carried by the firm. Normally, manufacturing industries and trading organizations need more working capital than in the service business organizations.
A service sector does not require any amount of stock of goods. But in the manufacturing or trading firm, credit sales and advance related transactions are in large amount.
Time needed for keeping the stock in store is called storage period. The amount of working capital is influenced by the storage period. If storage period is high A firm should keep more quantity of goods in store and hence requires more working capital. if the storage Period is less , then more stock of goods must be held in store as work-in-progress.
Modern Database Management 12th Global Edition by Hoffer solution manual.docxssuserf63bd7
https://qidiantiku.com/solution-manual-for-modern-database-management-12th-global-edition-by-hoffer.shtml
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Edition:12th Global Edition
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All chapter include
Focusing on what leading database practitioners say are the most important aspects to database development, Modern Database Management presents sound pedagogy, and topics that are critical for the practical success of database professionals. The 12th Edition further facilitates learning with illustrations that clarify important concepts and new media resources that make some of the more challenging material more engaging. Also included are general updates and expanded material in the areas undergoing rapid change due to improved managerial practices, database design tools and methodologies, and database technology.
Artificial intelligence (AI) offers new opportunities to radically reinvent the way we do business. This study explores how CEOs and top decision makers around the world are responding to the transformative potential of AI.
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This person is none other than Oprah Winfrey, a highly influential figure whose impact extends beyond television. This article will delve into the remarkable life and lasting legacy of Oprah. Her story serves as a reminder of the importance of perseverance, compassion, and firm determination.
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2. INTRODUCTION
Professor Michael Porter suggested three
general positioning strategies to achieve competitive
advantage :
1. Low Cost Leadership Strategy
2. Differentiation Strategy
3. Focus Strategy
The Generic Competitive Strategy (GCS) is a methodology
designed to provide companies with a strategic plan to
compete .The GCS is useful when a company is looking to
gain an advantage over a competitor
4. LOW COST LEADERSHIP
STRATEGY
• The firm employs economies of scale and
efficiencies in production line
• Here the firm tries to beat the competitors by
keeping the prices low
• It is characterised by reduction of over heads
and fixed costs of production
• This helps to avoid risk and able to sustain in
inflation
5. ACHIEVED THROUGH
• Appropriate Demand forecasting techniques
• Efficient resource utilisation
• Achieving economies of scale
• Outsourcing
• Complete capacity utilisation
• Use of improved technologies
6. EXAMPLE
• Wal-Mart is one of the most well-known
companies that use Cost Leadership as their
business strategy.
• With efficient distribution methods, huge
volume discounts from suppliers, and their
control of manufacturing and inventory
• By specializing in low costs, they got higher
number of customers who spend an average
amount of money in their stores
7. DIFFERENTIATION STRATEGY
• This strategy is adopted by the firm which
wants to differentiate its product from its
competitors
• Here the firm wants to highlight some feature
or benefit in its product offering as superior to
that of its competitors
• By heavy advertising it is able to insert this
value in the minds of its customers thereby
creating brand loyalty for its product
8. ACHIEVED THROUGH
• Through different pricing strategies
• Incorporating features and benefits in their
product or service
• Packaging
• By offering new products, services or offer
attractive promotions (innovation)
• Channel and distribution strategies
9. EXAMPLE
• BIG BAZAAR : Adopt a low price strategy to
attract its customers (pricing strategy)
12. PEPSI & COCO-COLA
They cover all retail outlets in towns as
well as in villages
(channel differentiation)
13. FOCUS STRATEGY
• In this firm focuses on a particular segment or
market within an industry
• This segment maybe defined in terms of
products, geography or customers
• Focus are of two types
– Cost focus
Cost focus strategy implies a cost advantage in the
segment
– Differentiation focus
Differentiation focus focuses on a differentiated
offering in the market
14. ACHIEVED THROUGH
• Offering unique features that fulfill the
demands of a narrow market
• Develop Customer Intimacy
• Promotional and advertising activities based
on needs of target market
• Increasing production efficiency by making
investments in technology
15. EXAMPLE FOR COST FOCUS
• IKEA
Young furniture buyers who want style at low cost
(price sensitive)
16. .They keep ticket prices low by lowering its
operating cost
.Point to point services for flying passengers
from mid-sized cities
SOUTHWEST AIRLINES
18. • ROLLS ROYCE
– Serving luxuries end of automobile market
(premium pricing and image)
19. CONCLUSION
COST LEADERSHIP DIFFERENTIATION COST FOCUS &
DIFFERENTIATION
FOCUS
Broad market coverage Broad market coverage Narrow market
coverage
Low price than
competitors
Unique market
offerings
Provide low cost and
unique products to a
small market segment
Bring down cost of
production
Creating superior
products
Customised products
20. REFERENCE
• “Strategic Management Concepts” by Robert E Hoskisson and
Michael A Hitt
• “Strategic Marketing Management: planning, implementation
and control” by Colin Gilligan and Richard M S Wilson
• “Strategic Project Management (Strategic Success)” by Paul
Roberts