The document discusses strategic marketing forecasting and its relationship to market segment selection and firm performance. It presents four hypotheses:
1) Firms select market segments that have high market attractiveness and where the firm has strong business strengths.
2) A firm's forecasts are more accurate for targeted market segments than non-targeted segments.
3) A firm's forecast accuracy increases as the level of competition in a targeted market segment increases.
4) Superior long-term strategic forecasting accuracy is positively associated with better firm performance.
The document proposes testing these hypotheses using strategic forecasts from a marketing simulation to investigate the relationships between strategic forecasting, market segment selection, and firm performance.
This document provides a practitioner's guide to effective demand planning. It discusses how demand planning has plateaued for many companies despite two decades of process and technology refinement. Effective demand planning requires admitting past mistakes, continuous improvement, and carefully reimplementing demand planning technologies to better sense and shape demand. Key success factors include having demand planning report to a central supply chain group rather than sales or other functions to reduce bias. Companies must also carefully design data governance between global and regional teams. Rising demand volatility further challenges traditional demand planning approaches and highlights the need for improvements.
This presentation is step by step guide to market feasibility report. How to write market feasibility report. The factors and forces affecting the market. How the market can move. How are target market and their buying behaviour.
This document provides an overview of quantitative techniques used for business analysis, specifically covering topics in statistics. It includes a table of contents listing 8 chapters that cover topics such as data collection, presentation of data through tables and graphs, measures of central tendency and dispersion, probability, and introduction to statistics. The introduction discusses how statistics can be used descriptively to summarize data or inferentially to draw conclusions about populations. It emphasizes the importance of statistics across many fields.
The document provides an overview of strategic management concepts including definitions of strategy, strategic management, and strategic intent. It discusses different approaches to strategy like the analytical, design, positioning, and resource-based views. It also outlines the strategic management process including environmental scanning, strategy formulation, implementation, and evaluation. Key aspects covered are the importance of fit between strategy and the external environment, and managing strategic drift during periods of radical change.
Sales Forecasting
Sales forecasting is the process of a company predicting what its future sales will be. This forecast is done for a particular period of time in the near future, usually the next fiscal year. Accurate sales forecasting enables a company to make informed business decisions. Sales forecasting is easier for established companies that have been operating for a few years than for newer companies. Established companies have years of sales records and can base their forecasts on that past sales data. Newly founded companies have to base their forecasts on less verified information, such as market research and competition analysis to forecast their future business.
Why is Sales Forecasting important?
Sales Forecasting gives insight on whether a company should expand, information about cash flow, and the ability to effectively manage its resources. Without forecasting, a company would be unsure of what inventory level to maintain, unsure on how it should allocate resources across the company, and it would have a hard time predicting future success. Forecasting sales is a crucial business practice, because in addition to helping a company allocate its internal resources effectively, having this data is important for acquiring investment capital. Often, investors want to know what a company’s future expected sales are before making an investment.
This document provides instructions for an assignment using system dynamics modeling to analyze competitive dynamics in a chosen organization and market. Students are asked to:
1) Choose an organization and develop stock and flow diagrams capturing important feedback processes driving demand.
2) Assess factors determining product attractiveness through graphs and determine which factors are most influential.
3) Evaluate the organization's current strategy based on its position relative to attractiveness factors and the industry feedback processes.
4) Write a 4-page report summarizing the analysis, strategic assessment, and recommendations for modifying strategy to be more robust and advantageous.
The document discusses attracting and retaining demand planning talent. It notes that demand planning skills are changing and in high demand as companies expect more from their supply chains. However, finding candidates with the right combination of analytical, communication, and technical skills is challenging. The document provides suggestions for how companies can develop talent internally, promote their demand planning roles, and partner with schools to attract new talent.
The document discusses strategic marketing forecasting and its relationship to market segment selection and firm performance. It presents four hypotheses:
1) Firms select market segments that have high market attractiveness and where the firm has strong business strengths.
2) A firm's forecasts are more accurate for targeted market segments than non-targeted segments.
3) A firm's forecast accuracy increases as the level of competition in a targeted market segment increases.
4) Superior long-term strategic forecasting accuracy is positively associated with better firm performance.
The document proposes testing these hypotheses using strategic forecasts from a marketing simulation to investigate the relationships between strategic forecasting, market segment selection, and firm performance.
This document provides a practitioner's guide to effective demand planning. It discusses how demand planning has plateaued for many companies despite two decades of process and technology refinement. Effective demand planning requires admitting past mistakes, continuous improvement, and carefully reimplementing demand planning technologies to better sense and shape demand. Key success factors include having demand planning report to a central supply chain group rather than sales or other functions to reduce bias. Companies must also carefully design data governance between global and regional teams. Rising demand volatility further challenges traditional demand planning approaches and highlights the need for improvements.
This presentation is step by step guide to market feasibility report. How to write market feasibility report. The factors and forces affecting the market. How the market can move. How are target market and their buying behaviour.
This document provides an overview of quantitative techniques used for business analysis, specifically covering topics in statistics. It includes a table of contents listing 8 chapters that cover topics such as data collection, presentation of data through tables and graphs, measures of central tendency and dispersion, probability, and introduction to statistics. The introduction discusses how statistics can be used descriptively to summarize data or inferentially to draw conclusions about populations. It emphasizes the importance of statistics across many fields.
The document provides an overview of strategic management concepts including definitions of strategy, strategic management, and strategic intent. It discusses different approaches to strategy like the analytical, design, positioning, and resource-based views. It also outlines the strategic management process including environmental scanning, strategy formulation, implementation, and evaluation. Key aspects covered are the importance of fit between strategy and the external environment, and managing strategic drift during periods of radical change.
Sales Forecasting
Sales forecasting is the process of a company predicting what its future sales will be. This forecast is done for a particular period of time in the near future, usually the next fiscal year. Accurate sales forecasting enables a company to make informed business decisions. Sales forecasting is easier for established companies that have been operating for a few years than for newer companies. Established companies have years of sales records and can base their forecasts on that past sales data. Newly founded companies have to base their forecasts on less verified information, such as market research and competition analysis to forecast their future business.
Why is Sales Forecasting important?
Sales Forecasting gives insight on whether a company should expand, information about cash flow, and the ability to effectively manage its resources. Without forecasting, a company would be unsure of what inventory level to maintain, unsure on how it should allocate resources across the company, and it would have a hard time predicting future success. Forecasting sales is a crucial business practice, because in addition to helping a company allocate its internal resources effectively, having this data is important for acquiring investment capital. Often, investors want to know what a company’s future expected sales are before making an investment.
This document provides instructions for an assignment using system dynamics modeling to analyze competitive dynamics in a chosen organization and market. Students are asked to:
1) Choose an organization and develop stock and flow diagrams capturing important feedback processes driving demand.
2) Assess factors determining product attractiveness through graphs and determine which factors are most influential.
3) Evaluate the organization's current strategy based on its position relative to attractiveness factors and the industry feedback processes.
4) Write a 4-page report summarizing the analysis, strategic assessment, and recommendations for modifying strategy to be more robust and advantageous.
The document discusses attracting and retaining demand planning talent. It notes that demand planning skills are changing and in high demand as companies expect more from their supply chains. However, finding candidates with the right combination of analytical, communication, and technical skills is challenging. The document provides suggestions for how companies can develop talent internally, promote their demand planning roles, and partner with schools to attract new talent.
BUSINESS ANALYTICS, BACKBONE OF ORGANIZATIONS - A LITERATURE REVIEW.pdfAdheer A. Goyal
Business analytics is the process by which businesses use statistical methods and technologies based on historical data in order to attain organizational goals and make profit. Analytics are now regularly used in multiple areas of life. It should come as no surprise that business analytics is one of the fastest growing markets in enterprise software landscape. This article discusses about history and terminology of analytics. There is also a brief discussion about how business analytics gives opportunities not only to large scale and multinational companies but also to small and medium enterprises. In this conceptual paper major types of business analytics i.e., decision analytics, descriptive analytics, predictive analytics and prescriptive analytics are included. We also noted how business analytics can help you in supply chain management, analyze the key performance indicators which further helps in decision making, boost relationship with consumers and improve efficiency in the basis of product data. Then it consists of brief description about advantages and disadvantages of business analytics, difference between business analytics and business intelligence. This paper concludes with challenges in business analytics posed by the big data analytics, data scientists, business organization etc. and thoroughly researched the impact of business analytics on innovation.
Business strategy is dependent on the management team possessing high quality information, most often of a quantitative nature. Particularly in a business environment that is increasingly globalized and influenced by both technology and social media, the ability of management to react with flexibility is key to organizational success. Accounting professionals, specifically management accountants already embedded within various functional areas, possess the necessary competencies to meet the data demands of a stakeholder environment. Building strategy begins with an understanding of broader business trends, and the ability to translate broader trends into quantitative data. Adopting a strategic headset and more strategically oriented business outlook is a concept that continues to proliferate the academic and business press. Accounting professionals have an opportunity to leverage existing competencies, technological advances, and the need for quantitative data in a fast changing environment. What remains to be done is an analysis of these trends, and an understanding of how accounting professionals can translate potential into business decision making.
Week 1 Lecture The Nature of Business ResearchBusiness researc.docxkdennis3
Week 1 Lecture
The Nature of Business Research
Business research covers a wide range of phenomena. For managers, the purpose of research is to provide knowledge regarding the organization, the market, the economy, or another area of uncertainty. A financial manager may ask, “Will the environment for long-term financing be better two years from now?†A personnel manager may ask, “What kind of training is necessary for production employees?†or “What is the reason for the company’s high employee turnover?†A marketing manager may ask, “How can I monitor my retail sales and retail trade activities?†Each of these questions requires information about how the environment, employees, customers, or the economy will respond to executives’ decisions. Research is one of the principal tools for answering these practical questions.
Business research is the application of the scientific method in searching for the truth about business phenomena. These activities include defining business opportunities and problems, generating and evaluating alternative courses of action, and monitoring employee and organizational performance. Business research is more than conducting surveys.6 This process includes idea and theory development, problem definition, searching for and collecting information, analyzing data, and communicating the findings and their implications.
Applied business research is conducted to address a specific business decision for a specific firm or organization. The opening vignette describes a situation in which ESPN used applied research to decide how to best create knowledge of its sports fans and their preferences. Basic business research (sometimes referred to as pure research) is conducted without a specific decision in mind, and it usually does not address the needs of a specific organization.
All research, whether basic or applied, involves the scientific method. The scientific method is the way researchers go about using knowledge and evidence to reach objective conclusions about the real world. The scientific method is the same in social sciences, such as business, as in physical sciences, such as physics. In this case, it is the way we come to understand business phenomena.
A firm can be production-oriented. A production-oriented firm prioritizes the efficiency and effectiveness of production processes in making decisions. Here, research providing input from workers, engineers, finance, and accounting becomes important as the firm seeks to drive costs down. Production-oriented firms are usually very large firms manufacturing products in very large quantities. The third orientation is marketing- oriented, which focuses more on how the firm provides value to customers than on the physical product or production process. With a marketing-oriented organization the majority of research focuses on the customer. Research addressing consumer desires, beliefs, and attitudes becomes essential.
Diagnosing Opportunities: After a.
This document provides guidance on producing a sustainability report. It discusses why organizations produce sustainability reports, which is typically to build trust with stakeholders and increase transparency. It also covers determining the target audience, assessing material issues, and different reporting formats like standalone reports, sections of annual reports, and online reporting. The document emphasizes that defining the purpose and intended audience is important before beginning the reporting process. It also highlights that assessing material issues through stakeholder engagement is a key aspect of sustainability reporting standards.
This article discusses how businesses can improve their Sales & Operations Planning (S&OP) process by incorporating scenario planning using probabilistic planning, predictive analytics, and simulation to better address uncertainty, complexity, and risk. Currently, S&OP processes do not adequately account for these factors and can hide critical details. The article recommends using predictive analytics on demand data and scenario planning with quantitative methods to generate alternative plans and assess risks. This will help businesses better balance supply and demand when facing uncertainties.
This document provides an overview of typical business reports. It discusses the purpose of business reports and key elements to consider, such as audience and research. Various types of reports are covered, including periodic reports, situational reports, investigative reports, compliance reports, analytical reports, feasibility reports, yardstick reports, and research reports. For each type, the document outlines typical formats, examples, and things to keep in mind when writing that particular report. Overall, the document serves as a guide for understanding different business report types, their purposes, and general structures.
This document provides background information on accounting information and its use in management decision making. It defines accounting information as the language of business that processes financial transactions and provides financial performance data to internal and external users. It discusses how accounting information is necessary for proper decision making, profit maximization, and optimal resource utilization. The document also notes some problems with the quality and validity of accounting information provided to management and how this can negatively impact decision making and organizational performance if the information is untimely, inadequate, or unclear.
The document discusses enterprise performance management (EPM) and the results of surveys conducted with over 2,600 finance professionals. It finds that EPM processes like planning, budgeting, forecasting, performance reporting, and cost analysis are often disjointed and not well integrated. Additionally, ownership of these processes frequently remains with the finance function rather than the wider business. The document advocates integrating EPM processes, focusing on key value drivers, and addressing challenges like data quality and technology adoption to help organizations better manage performance.
Using established business models as investigative tools and linking them together to enhance their analytical value is proposed in this paper as a method of progressing from strategic situation analysis to competitive advantage. Moreover, internal analyses that result in the identification of distinctive competencies and external investigations that uncover industry key success factors give strategists the means to develop strategies that may achieve competitive advantage.
Operations strategy involves making consistent patterns of business decisions related to operations and supply chain management that are linked to the overall business strategy. This helps create a competitive advantage. Operations strategic objectives include cost, quality, delivery, and flexibility. Strategic decisions involve processes, quality systems, capacity, and inventory. The goal is to develop a distinctive competence, something the organization does better than competitors. Operations strategy must be tailored to the business strategy, such as focusing on low cost for imitative products or flexibility for innovative products.
This document is a marketing project report for Samvardhana Motherson Group that discusses future growth strategies. It includes an executive summary, introduction, literature review, company profile, research methodology, data analysis, findings, conclusions and recommendations. Specifically, the introduction discusses the objectives of studying SMG's marketing strategies and brand loyalty. It also outlines the scope, statement of problems, data collection methods and limitations of the study. The literature review covers different types of future strategies including horizontal integration, vertical integration and diversification.
This document provides a literature review of a 1997 paper by Ambler and Styles on brand extension decision making processes. It summarizes the Ambler and Styles paper, noting its research design using 11 case studies and resulting propositions. It then evaluates the limitations of the Ambler and Styles paper, such as its small sample size and focus only on FMCG brands. Finally, the document reviews five branding papers and identifies similarities and differences in their findings regarding key factors for successful brand extensions.
Corporate strategy differs between small businesses, multinational corporations, public sector organizations, and non-profits. For small businesses, excellent customer service is key to standing out, while avoiding biting off more than they can chew. Multinationals must adapt strategies to different countries and recognize the need to localize. Public sector strategy involves economic development plans, sector competitiveness, and fiscal reforms. Non-profits have a mission statement and scan the environment for opportunities while anticipating threats.
A Sales Forecasting Model Based on Internal Organizational Variables.pdfAnna Landers
This document describes a sales forecasting model developed for a small export business unit based on internal organizational variables. The model uses an econometric technique and compares its outputs to simpler univariate forecasting techniques used by the organization. The econometric model produces a better fit to observable data and integrates quantitative variables accounting for relevant management decisions. It can reasonably explain sales that would not be explained by external economic variables alone. The model focuses exclusively on observable explanatory variables internal to the organization, which could facilitate its implementation in other similar organizations.
Running head BUSIENSS POLICY DEVLEOPMENT AND IMPLEMENTATION 1B.docxsusanschei
Running head: BUSIENSS POLICY DEVLEOPMENT AND IMPLEMENTATION 1
BUSIENSS POLICY DEVLEOPMENT AND IMPLEMENTATION 2
Business Policy Development and Implementation
Student’s Name
Institutional Affiliation
Business Policy Development and Implementation
Introduction
In a constantly changing organizational and business environment, companies are increasingly facing stiff competition. As such, they are compelled by the need to improve their performance and do things in the most desired ways in order to meet the needs of consumers (Gomes & Romão, 2013). In light of these patterns, organizations can no longer be dependent upon the traditional analytical tools. Instead, they have seen the need to use models and frameworks such as the balanced scorecard to examine the degree to which companies work to attain their mission and vision. In addition, strategic decision-making must also be done through observance of the constantly changing trends and patterns that may affect the status of an organization. In this report, I provide ways in which our team members made logical decisions and how we utilized the balanced scorecard framework.
Decision Logic and What Supported the Decisions
The decisions that we embraced in the Capsim project was driven by the desire to generate a competitive advantage over other rivals. Therefore, we saw the need to take a closer look at the use of decision-making strategies within our business and operational environment. The main decisions that we made were associated with issues such as product development, research and development, innovation, marketing, as well as human resources and finance. There are various factors that made it possible for the team to make strategic decisions. First, having ready access to information, ranging from the details of the potential markets for the organization’s products and services, as well as estimates of next year’s labor requirements, is important. The more accurate and complete the information is, the more effective the strategic decisions we made. For instance, we relied on technological tools such as information systems to provide the team with accurate information about business intelligence issues (Spetzler, Winter & Meyer, 2016). Decision-making on production and product development functions heavily relied on technological tools such as spreadsheets and databases to calculate the efficacy of different machines, and to introduce new products in the production process. In order to support marketing decisions, we utilized Big Data technologies and analytics to determine the effects of different pricing strategies and to keep the records of consumer profiles. These tools were also utilized to plan the launching of new products and services. Human resources decisions were made with the purpose of planning for the next round and determining the pay awards. Planning decisions also sought to determine employee records and rewards. Finance decisions were also made to draw up p ...
AbstractIn 2002, Respironics, Inc. was at a turning point in.docxdaniahendric
Abstract
In 2002, Respironics, Inc. was at a turning point in its
history. Changing market conditions, increased regu-
lation and growing competition prompted executive
management to commission a project to develop a sus-
tainable business strategy capable of delivering consis-
tent and predictable growth. This paper outlines the
major steps, decision points, and challenges encoun-
tered during the creation and implementation of this
strategy. Particular emphasis is placed on the central
role articulating a “Strategic Intent” played in achiev-
ing success.
Background
Respironics, Inc. is today the recognized leader in pro-
viding innovative solutions to the treatment of sleep
and respiratory disordersi. Established in 1976, the
business built a reputation of bringing several innova-
tive solutions to patients, helping them sleep and
breathe easier. Most notably, the first commercially
available treatment for Obstructive Sleep Apnea
(OSA), a respiratory ailment resulting in interrupted
breathing cycles during sleep, was introduced and ad-
vanced by Respironics. Through its first 20 years, the
business grew as awareness of sleep disorders and
their treatment began to grow. The business a?racted
the a?ention of both the medical device industry and
Wall Street as it demonstrated steady growth and was
named one of the 200 Best Small Companies by Forbes
Magazine. In 1998, with over 1000 employees and five
operating facilities in the US and two international fa-
cilities, Respironics had captured market leadership in
each of its core markets. However, in 1999 after a
major acquisition, Respironics began to see market
share slip and therefore lost the confidence of Wall
Street as the stock slipped to an all time low of $7 per
share. The Board of Directors took immediate action
to correct course and brought in a new CEO to lead
the business. As Respironics’ products are sold
mainly through distributors, the company began to
differentiate themselves from their competitors by pro-
viding unique services to support the growth of their
customers’ businesses. Many of these medical equip-
ment distributors were locally owned and operated
“mom & pop shops” who provided medical equip-
ment, such as walkers and oxygen, to patients within
their local community. As the competition for prod-
ucts and services increased between these medical
equipment companies, Respironics assisted these busi-
nesses by providing them with business plans, mar-
keting programs, financing, and service arrangements
designed to enhance their business. Respironics fo-
cused on the needs of the customer and began to re-
gain market share and the confidence of Wall Street.
The Board of Directors was not satisfied with this fi-
nancial turn around alone. As they assessed the mar-
ket conditions and the growing number of competitors
for the core OSA market, they were concerned that
even these positive changes would not sustain the de-
sired growth. Therefore, they cha ...
This document discusses marketing research and its importance for businesses. It defines marketing research as the systematic gathering and analysis of data related to marketing problems. Marketing research is important as it provides valuable customer behavior data, helps select promotional techniques, supplies market information, and evaluates marketing performance. The key stages of marketing research are defining the problem, developing a research plan, collecting information, analyzing the information, and presenting findings. A marketing information system is also described which continuously provides relevant data to aid marketing decisions. Finally, common areas studied in pharmaceutical market research are outlined.
Adoption of Feasibility Report as A Success Factor by Small and Medium Scale ...iosrjce
Starting a business, whether large scale, medium scale or small scale in Nigeria involves a lot of
processes. The environment that will accommodate such business is very crucial to the entrepreneurs. This
research examines the adoption of feasibility report as a success factor by small and medium scale
entrepreneurs in Kaduna. In the study, both the primary and secondary sources of data was used. A survey
design was adopted while a sample size of 36 respondents was used to represent the entire population. The
questionnaire was the instrument used in acquiring data from the respondents. In the summary of findings, a
greater number of respondents (entrepreneurs) did not conduct feasibility report while a lesser number of
respondents (entrepreneurs) did conduct feasibility report. This shows the neglect of feasibility report by the
entrepreneurs and perhaps the consequent failures of such businesses. One of the recommendations made was
that, there is need for entrepreneurs to conduct feasibility report before embarking on businesses, whether
large, medium or small scale.
The document provides information on the global locations of eNetwork centres. It lists over 100 locations across 6 continents including cities in Australia, Austria, Bahamas, Bahrain, Belgium, Brazil, Bulgaria, Canada, China, Colombia, Croatia, Cyprus, Czech Republic, Denmark, Ecuador, Egypt, Estonia, Finland, France, Germany, Ghana, Greece, Hong Kong, Hungary, India, Indonesia, Ireland, Italy, Japan, Kuwait, Lebanon, Luxembourg, Macau, Malaysia, Malta, Mexico, Mozambique, Netherlands, Nigeria, Norway, Philippines, Poland, Portugal, Saudi Arabia, Serbia, Singapore, Slovenia, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, Turkey,
Global Study: The Benefits and Barriers to Video Collaboration AdoptionPier Paolo Mucelli
Video collaboration technologies are reinventing the workplace by allowing people to meet virtually, efficiently, and reliably from nearly any point on the globe. And although it has become widely accepted that video collaboration helps businesses significantly through reduced travel, benefits such as building trust, improving group collaboration, and increasing competitive advantage, have emerged as equally important factors that are also less commonly studied.
BUSINESS ANALYTICS, BACKBONE OF ORGANIZATIONS - A LITERATURE REVIEW.pdfAdheer A. Goyal
Business analytics is the process by which businesses use statistical methods and technologies based on historical data in order to attain organizational goals and make profit. Analytics are now regularly used in multiple areas of life. It should come as no surprise that business analytics is one of the fastest growing markets in enterprise software landscape. This article discusses about history and terminology of analytics. There is also a brief discussion about how business analytics gives opportunities not only to large scale and multinational companies but also to small and medium enterprises. In this conceptual paper major types of business analytics i.e., decision analytics, descriptive analytics, predictive analytics and prescriptive analytics are included. We also noted how business analytics can help you in supply chain management, analyze the key performance indicators which further helps in decision making, boost relationship with consumers and improve efficiency in the basis of product data. Then it consists of brief description about advantages and disadvantages of business analytics, difference between business analytics and business intelligence. This paper concludes with challenges in business analytics posed by the big data analytics, data scientists, business organization etc. and thoroughly researched the impact of business analytics on innovation.
Business strategy is dependent on the management team possessing high quality information, most often of a quantitative nature. Particularly in a business environment that is increasingly globalized and influenced by both technology and social media, the ability of management to react with flexibility is key to organizational success. Accounting professionals, specifically management accountants already embedded within various functional areas, possess the necessary competencies to meet the data demands of a stakeholder environment. Building strategy begins with an understanding of broader business trends, and the ability to translate broader trends into quantitative data. Adopting a strategic headset and more strategically oriented business outlook is a concept that continues to proliferate the academic and business press. Accounting professionals have an opportunity to leverage existing competencies, technological advances, and the need for quantitative data in a fast changing environment. What remains to be done is an analysis of these trends, and an understanding of how accounting professionals can translate potential into business decision making.
Week 1 Lecture The Nature of Business ResearchBusiness researc.docxkdennis3
Week 1 Lecture
The Nature of Business Research
Business research covers a wide range of phenomena. For managers, the purpose of research is to provide knowledge regarding the organization, the market, the economy, or another area of uncertainty. A financial manager may ask, “Will the environment for long-term financing be better two years from now?†A personnel manager may ask, “What kind of training is necessary for production employees?†or “What is the reason for the company’s high employee turnover?†A marketing manager may ask, “How can I monitor my retail sales and retail trade activities?†Each of these questions requires information about how the environment, employees, customers, or the economy will respond to executives’ decisions. Research is one of the principal tools for answering these practical questions.
Business research is the application of the scientific method in searching for the truth about business phenomena. These activities include defining business opportunities and problems, generating and evaluating alternative courses of action, and monitoring employee and organizational performance. Business research is more than conducting surveys.6 This process includes idea and theory development, problem definition, searching for and collecting information, analyzing data, and communicating the findings and their implications.
Applied business research is conducted to address a specific business decision for a specific firm or organization. The opening vignette describes a situation in which ESPN used applied research to decide how to best create knowledge of its sports fans and their preferences. Basic business research (sometimes referred to as pure research) is conducted without a specific decision in mind, and it usually does not address the needs of a specific organization.
All research, whether basic or applied, involves the scientific method. The scientific method is the way researchers go about using knowledge and evidence to reach objective conclusions about the real world. The scientific method is the same in social sciences, such as business, as in physical sciences, such as physics. In this case, it is the way we come to understand business phenomena.
A firm can be production-oriented. A production-oriented firm prioritizes the efficiency and effectiveness of production processes in making decisions. Here, research providing input from workers, engineers, finance, and accounting becomes important as the firm seeks to drive costs down. Production-oriented firms are usually very large firms manufacturing products in very large quantities. The third orientation is marketing- oriented, which focuses more on how the firm provides value to customers than on the physical product or production process. With a marketing-oriented organization the majority of research focuses on the customer. Research addressing consumer desires, beliefs, and attitudes becomes essential.
Diagnosing Opportunities: After a.
This document provides guidance on producing a sustainability report. It discusses why organizations produce sustainability reports, which is typically to build trust with stakeholders and increase transparency. It also covers determining the target audience, assessing material issues, and different reporting formats like standalone reports, sections of annual reports, and online reporting. The document emphasizes that defining the purpose and intended audience is important before beginning the reporting process. It also highlights that assessing material issues through stakeholder engagement is a key aspect of sustainability reporting standards.
This article discusses how businesses can improve their Sales & Operations Planning (S&OP) process by incorporating scenario planning using probabilistic planning, predictive analytics, and simulation to better address uncertainty, complexity, and risk. Currently, S&OP processes do not adequately account for these factors and can hide critical details. The article recommends using predictive analytics on demand data and scenario planning with quantitative methods to generate alternative plans and assess risks. This will help businesses better balance supply and demand when facing uncertainties.
This document provides an overview of typical business reports. It discusses the purpose of business reports and key elements to consider, such as audience and research. Various types of reports are covered, including periodic reports, situational reports, investigative reports, compliance reports, analytical reports, feasibility reports, yardstick reports, and research reports. For each type, the document outlines typical formats, examples, and things to keep in mind when writing that particular report. Overall, the document serves as a guide for understanding different business report types, their purposes, and general structures.
This document provides background information on accounting information and its use in management decision making. It defines accounting information as the language of business that processes financial transactions and provides financial performance data to internal and external users. It discusses how accounting information is necessary for proper decision making, profit maximization, and optimal resource utilization. The document also notes some problems with the quality and validity of accounting information provided to management and how this can negatively impact decision making and organizational performance if the information is untimely, inadequate, or unclear.
The document discusses enterprise performance management (EPM) and the results of surveys conducted with over 2,600 finance professionals. It finds that EPM processes like planning, budgeting, forecasting, performance reporting, and cost analysis are often disjointed and not well integrated. Additionally, ownership of these processes frequently remains with the finance function rather than the wider business. The document advocates integrating EPM processes, focusing on key value drivers, and addressing challenges like data quality and technology adoption to help organizations better manage performance.
Using established business models as investigative tools and linking them together to enhance their analytical value is proposed in this paper as a method of progressing from strategic situation analysis to competitive advantage. Moreover, internal analyses that result in the identification of distinctive competencies and external investigations that uncover industry key success factors give strategists the means to develop strategies that may achieve competitive advantage.
Operations strategy involves making consistent patterns of business decisions related to operations and supply chain management that are linked to the overall business strategy. This helps create a competitive advantage. Operations strategic objectives include cost, quality, delivery, and flexibility. Strategic decisions involve processes, quality systems, capacity, and inventory. The goal is to develop a distinctive competence, something the organization does better than competitors. Operations strategy must be tailored to the business strategy, such as focusing on low cost for imitative products or flexibility for innovative products.
This document is a marketing project report for Samvardhana Motherson Group that discusses future growth strategies. It includes an executive summary, introduction, literature review, company profile, research methodology, data analysis, findings, conclusions and recommendations. Specifically, the introduction discusses the objectives of studying SMG's marketing strategies and brand loyalty. It also outlines the scope, statement of problems, data collection methods and limitations of the study. The literature review covers different types of future strategies including horizontal integration, vertical integration and diversification.
This document provides a literature review of a 1997 paper by Ambler and Styles on brand extension decision making processes. It summarizes the Ambler and Styles paper, noting its research design using 11 case studies and resulting propositions. It then evaluates the limitations of the Ambler and Styles paper, such as its small sample size and focus only on FMCG brands. Finally, the document reviews five branding papers and identifies similarities and differences in their findings regarding key factors for successful brand extensions.
Corporate strategy differs between small businesses, multinational corporations, public sector organizations, and non-profits. For small businesses, excellent customer service is key to standing out, while avoiding biting off more than they can chew. Multinationals must adapt strategies to different countries and recognize the need to localize. Public sector strategy involves economic development plans, sector competitiveness, and fiscal reforms. Non-profits have a mission statement and scan the environment for opportunities while anticipating threats.
A Sales Forecasting Model Based on Internal Organizational Variables.pdfAnna Landers
This document describes a sales forecasting model developed for a small export business unit based on internal organizational variables. The model uses an econometric technique and compares its outputs to simpler univariate forecasting techniques used by the organization. The econometric model produces a better fit to observable data and integrates quantitative variables accounting for relevant management decisions. It can reasonably explain sales that would not be explained by external economic variables alone. The model focuses exclusively on observable explanatory variables internal to the organization, which could facilitate its implementation in other similar organizations.
Running head BUSIENSS POLICY DEVLEOPMENT AND IMPLEMENTATION 1B.docxsusanschei
Running head: BUSIENSS POLICY DEVLEOPMENT AND IMPLEMENTATION 1
BUSIENSS POLICY DEVLEOPMENT AND IMPLEMENTATION 2
Business Policy Development and Implementation
Student’s Name
Institutional Affiliation
Business Policy Development and Implementation
Introduction
In a constantly changing organizational and business environment, companies are increasingly facing stiff competition. As such, they are compelled by the need to improve their performance and do things in the most desired ways in order to meet the needs of consumers (Gomes & Romão, 2013). In light of these patterns, organizations can no longer be dependent upon the traditional analytical tools. Instead, they have seen the need to use models and frameworks such as the balanced scorecard to examine the degree to which companies work to attain their mission and vision. In addition, strategic decision-making must also be done through observance of the constantly changing trends and patterns that may affect the status of an organization. In this report, I provide ways in which our team members made logical decisions and how we utilized the balanced scorecard framework.
Decision Logic and What Supported the Decisions
The decisions that we embraced in the Capsim project was driven by the desire to generate a competitive advantage over other rivals. Therefore, we saw the need to take a closer look at the use of decision-making strategies within our business and operational environment. The main decisions that we made were associated with issues such as product development, research and development, innovation, marketing, as well as human resources and finance. There are various factors that made it possible for the team to make strategic decisions. First, having ready access to information, ranging from the details of the potential markets for the organization’s products and services, as well as estimates of next year’s labor requirements, is important. The more accurate and complete the information is, the more effective the strategic decisions we made. For instance, we relied on technological tools such as information systems to provide the team with accurate information about business intelligence issues (Spetzler, Winter & Meyer, 2016). Decision-making on production and product development functions heavily relied on technological tools such as spreadsheets and databases to calculate the efficacy of different machines, and to introduce new products in the production process. In order to support marketing decisions, we utilized Big Data technologies and analytics to determine the effects of different pricing strategies and to keep the records of consumer profiles. These tools were also utilized to plan the launching of new products and services. Human resources decisions were made with the purpose of planning for the next round and determining the pay awards. Planning decisions also sought to determine employee records and rewards. Finance decisions were also made to draw up p ...
AbstractIn 2002, Respironics, Inc. was at a turning point in.docxdaniahendric
Abstract
In 2002, Respironics, Inc. was at a turning point in its
history. Changing market conditions, increased regu-
lation and growing competition prompted executive
management to commission a project to develop a sus-
tainable business strategy capable of delivering consis-
tent and predictable growth. This paper outlines the
major steps, decision points, and challenges encoun-
tered during the creation and implementation of this
strategy. Particular emphasis is placed on the central
role articulating a “Strategic Intent” played in achiev-
ing success.
Background
Respironics, Inc. is today the recognized leader in pro-
viding innovative solutions to the treatment of sleep
and respiratory disordersi. Established in 1976, the
business built a reputation of bringing several innova-
tive solutions to patients, helping them sleep and
breathe easier. Most notably, the first commercially
available treatment for Obstructive Sleep Apnea
(OSA), a respiratory ailment resulting in interrupted
breathing cycles during sleep, was introduced and ad-
vanced by Respironics. Through its first 20 years, the
business grew as awareness of sleep disorders and
their treatment began to grow. The business a?racted
the a?ention of both the medical device industry and
Wall Street as it demonstrated steady growth and was
named one of the 200 Best Small Companies by Forbes
Magazine. In 1998, with over 1000 employees and five
operating facilities in the US and two international fa-
cilities, Respironics had captured market leadership in
each of its core markets. However, in 1999 after a
major acquisition, Respironics began to see market
share slip and therefore lost the confidence of Wall
Street as the stock slipped to an all time low of $7 per
share. The Board of Directors took immediate action
to correct course and brought in a new CEO to lead
the business. As Respironics’ products are sold
mainly through distributors, the company began to
differentiate themselves from their competitors by pro-
viding unique services to support the growth of their
customers’ businesses. Many of these medical equip-
ment distributors were locally owned and operated
“mom & pop shops” who provided medical equip-
ment, such as walkers and oxygen, to patients within
their local community. As the competition for prod-
ucts and services increased between these medical
equipment companies, Respironics assisted these busi-
nesses by providing them with business plans, mar-
keting programs, financing, and service arrangements
designed to enhance their business. Respironics fo-
cused on the needs of the customer and began to re-
gain market share and the confidence of Wall Street.
The Board of Directors was not satisfied with this fi-
nancial turn around alone. As they assessed the mar-
ket conditions and the growing number of competitors
for the core OSA market, they were concerned that
even these positive changes would not sustain the de-
sired growth. Therefore, they cha ...
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