Strategic management
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The document discusses different timing tactics in strategic management, specifically first mover and last mover strategies. First movers, also called pioneers, are the first businesses to enter a new market with a product or service and can gain advantages like brand loyalty and control of resources. However, first movers also bear high costs and risks of developing a new market. Last movers, also called late followers, take a wait-and-see approach, learning from first movers' mistakes before entering with improved offerings. While last movers have lower risks, they may struggle to gain market share. The document analyzes companies like Coca-Cola and Apple that have successfully used first mover and reinventing strategies over time.
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Baumol's theory of sales maximization argues that managers prioritize increasing sales over maximizing profits for several reasons. According to the theory, managers prefer steady sales growth to maximize revenue (R) up to the quantity (Qs) where marginal revenue (MR) is zero, rather than the higher quantity (Qm) that would maximize profits. This ensures a minimum acceptable level of profits (Rs) to satisfy shareholders while allowing continued sales growth. However, the theory makes some simplifying assumptions and has been criticized for not fully considering factors like oligopoly interdependence and uncertainties that could impact firms' objectives.
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Okay, let's solve this step-by-step:
Given: TC = 4000 + 5Q + 10Q2
Quantity (Q) = 10 units
1) Total Fixed Cost (TFC) = 4000 (Given fixed cost)
2) Average Fixed Cost (AFC) = TFC/Q
= 4000/10 = 400
3) Total Variable Cost (TVC) = 5Q + 10Q2
= 5(10) + 10(10)2 = 50 + 1000 = 1050
4) Average Variable Cost (AVC) = TVC/Q
= 1050/10 = 105
5) Average Total Cost (ATC) = TC/Q
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This document provides an introduction to production and operations management. It defines production/operations management as the process that transforms resources into value-added products/services according to organizational policies. The key difference between production management and operations management is whether the focus is on manufacturing or both manufacturing and services. Components of production and operations management (POM) include efficiency, effectiveness, and value addition. Reasons to study POM include its systematic approach, increasing competitive levels, cross-functional applications, and business/career opportunities.
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Costs functions
Okay, let's solve this step-by-step:
Given: TC = 4000 + 5Q + 10Q2
Quantity (Q) = 10 units
1) Total Fixed Cost (TFC) = 4000 (Given fixed cost)
2) Average Fixed Cost (AFC) = TFC/Q
= 4000/10 = 400
3) Total Variable Cost (TVC) = 5Q + 10Q2
= 5(10) + 10(10)2 = 50 + 1000 = 1050
4) Average Variable Cost (AVC) = TVC/Q
= 1050/10 = 105
5) Average Total Cost (ATC) = TC/Q
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This document is a presentation on production management systems. It begins with an introduction and index, then covers various chapters. Chapter 1 defines production and production management, and discusses their objectives, processes, classifications and importance. Chapter 2 defines plant location and discusses factors that affect location decisions, such as availability of infrastructure, workforce, raw materials and markets. The presentation emphasizes that plant location requires a detailed analysis, as an improper location can significantly increase costs. It provides examples of plant locations in India for various industries.
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Activity based costing is considered to be useful only for Manufacturing Organizations whereas reality is that it is equally usefull to Service providers
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types of production system
The document discusses two main types of production systems: intermittent and continuous. Intermittent production involves producing goods in small batches based on customer orders, with irregular start/stop cycles. Continuous production aims to produce goods constantly to meet forecasted demand at large scale using standardized processes. Specific intermittent systems include project production (complex one-time orders), job production (custom single units), and batch production (producing in lots based on orders or forecasts). Continuous systems emphasize mass production of standardized goods and process production of a single product.
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The document discusses various topics related to international business including:
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- The differences between domestic and international business including currencies, geographical conditions, legal systems, and political barriers.
- The importance of international business for expansion, managing product lifecycles, accessing new opportunities and technologies, utilizing resources efficiently, and earning foreign exchange.
- Trends in international business like regional trade agreements, developing country trade, air cargo, global production networks, intra-firm trade, and e-commerce.
- Theories of international trade such as mercantilism, absolute cost advantage, and comparative cost advantage.
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Total quality management (TQM) is defined as both a philosophy and set of principles for continuously improving an organization. It aims to manage all processes to exceed customer needs and achieve productivity, market penetration, and competitive advantage. TQM requires genuine management involvement, employee involvement, first-line supervision leadership, and company-wide quality control. Customer satisfaction is subjective and based on factors like performance, features, service, warranty, price, and reputation. Organizations must continually solicit feedback to understand customer perceptions and identify opportunities to improve quality and satisfaction.
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Cost-volume-profit (CVP) analysis is used to determine how changes in costs and sales volume affect a company's profits. It requires identifying all costs as either variable or fixed. CVP analysis explores the relationship between costs, revenues, and activity level to measure how costs and profits vary with sales volume. It is used for forecasting profits, budget planning, pricing decisions, determining sales mix, and more. The three elements of CVP are costs, volume, and profit. The break-even point is the sales volume where total revenue equals total costs. Relevant costs must differ between alternatives and affect the decision. Sunk costs do not affect decisions as they cannot be changed.
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This document discusses channels of distribution and types of distribution channels. It defines channels of distribution as the path through which products move from production to consumption, connecting producers and consumers. There are direct and indirect channels. Indirect channels involve intermediaries and can be one, two, or three levels depending on how many intermediaries are involved. The choice of channel depends on factors like the product, market, company capabilities, competitors, and the business environment.
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In this presentation, we will discuss production planning system, factors determining production control procedure, role of production planning and control in operations management, scope of production planning and control, its phases and principles. We will also talk about framework for strategy formulations and task control, PPC limitations, effectiveness, PPC in different systems, requirement of an effective PPC in a system and make or buy analysis.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit: http://www.welingkaronline.org/distance-learning/online-mba.html
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The following presentation delivers the lessons learned from startup failures and provides a few case studies and a list of guidelines for entrepreneurs on how to maximize their returns on investment and failure.
emerging nokia - should they focus on developed or emerging markets
Should Nokia’s growth strategy be to focus on the developed markets, emerging markets or both?
Case Analysis
Handset manufacturer worldwide market share of 38% in 2009
Market leader in emerging markets like India(60%) and China(40%)
Financial performance pre-2008 was exceptional
Known for innovation
Offers products at all price points
Post-2008 started losing ground in developed markets
European market revenue declined by 15% in 2009
Exited the Japanese market after 20 years of operations
Nokia was fifth most valuable brand globally in 2000
Analysis of Emerging Market
Employed the cost leadership strategy: Purchasing power low in emerging markets hence Nokia provided cost effective products successfully.
First time purchasers: Only 20% of the emerging market were not first time purchasers
Services as the key selling point: People of emerging markets wanted value added services bundled with the phone
Analysis of Developed markets
Consumers not very price sensitive
Delivering innovative products more important
57% of the market goes for a second phone, most of the time for an upgrade
Emergence of i-phone, considered as replacement for normal handsets with users looking for upgradation
Growing competition from companies like Samsung, LG, Motorola and Sony Ericson was also making things worse for Nokia.
New Operating System – e.g. – Emergence of OSs like Google’s Android and Microsoft’s Windows mobile further bothered Nokia.
Inability to understand demand – Nokia failed to understand growing demand for touch phones
Why focus on Emerging Markets?
As Nokia has already gained the following benefits by being the first mover, it should strive hard to maintain it’s market share in developing economies. Advantages it has –
Earlier entry, early start of the learning curve. Its crucial and experience is tough to imitate.
Nokia can develop enhanced reputation by being pioneer and using its already established brand image
Absolute cost advantage can be gained by early commitments to supplies of materials and distribution channels….
Recommendations- Emerging Market
Nokia should concentrate on Improved as well as Basic phones as the market is still evolving
Tie up with Telecom players and bring dual sim phones to increase the switching cost
It should follow innovations in developed countries and adapt them to emerging markets in order to stand against competition.
One general strategy should be to outsource the services part as it is not Nokia’s competency and customers are giving more regard to services (Exhibit 6)
Instead of charging customers for Life tools, revenues should be earned from advertisers.
new product management
The document provides an overview of strategic planning for new products, including the Product Innovation Charter (PIC) and new product portfolio. It discusses that the PIC is a strategic plan that charts a new product team's direction by setting goals, objectives, and guidelines. An effective PIC focuses the team's efforts and establishes boundaries. It also reviews how companies use product portfolios to evaluate new product opportunities based on strategic fit and ensure projects that meet financial and strategic criteria are pursued.
HOW TO INCREASE THE CHANCES OF DIGITAL STARTUP SUCCESS
Increase the chances of digital Startup success.
In practice we will show how to Run startup and increase the chance of success. We will talk about pains of digital startups and ways to avoid critical problems. How to choose a team of developers and build interaction with them. Also how to manage and set up reporting of the development team.
About presenter:
Evgen Rybak ( https://www.linkedin.com/in/evgen-rybak-4569912/ ) is a Chief Technical Officer (CTO) in a Web-development company. He has a huge experience in Web-development and Product Management. Also Evgen has a very long experience working with digital startups.
What is Product Strategy? Overview
The document discusses the importance of having a lean and agile product strategy. It argues against a "big bang" approach to product development and deployment, noting the risks of overbuilding features, prioritizing the wrong things, and struggling to attract customers without validating the product with real users. Instead, it advocates for developing the product iteratively through regular deployments of "thin slices" of functionality, allowing the product vision to evolve based on customer feedback. This approach provides greater visibility, business value, adaptability to change, and reduces risk compared to attempting to deliver the full product solution at once without customer validation.
Chapter09.ppt
This chapter discusses new product development strategies and processes. It outlines the steps in developing new products, which include idea generation, concept development and testing, marketing strategy development, and commercialization. It also describes managing the development process using customer-centered, team-based, or systematic approaches. Additionally, the chapter covers product life cycle strategies and how marketing must adapt at each stage from introduction to growth, maturity, and decline. Lastly, it discusses considerations for social responsibility and international product marketing.
Mm session 10 12
This document provides an overview of new product development strategies and the product lifecycle. It outlines the typical steps in new product development, including idea generation, concept development and testing, marketing strategy development, product development, test marketing, and commercialization. It also describes strategies for managing new product development, such as customer-centered and team-based approaches. Additionally, it discusses the stages of the product lifecycle - introduction, growth, maturity, and decline - and how marketing strategies should change during each stage.
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This document discusses an innovative approach to new product development called the Shopper Behaviour System (SBS). The SBS connects transactional and loyalty card data with experimental market tests involving real shoppers to accurately forecast sales volumes for new products. Traditional market research is inadequate because it relies on what people say rather than actual shopping behavior. The SBS has successfully predicted sales for over 100 grocery product launches within 5% of actual volumes. This approach promotes evidence-based decisions to only launch new products that will truly succeed in the market.
How to make Headless Commerce Strategy.
Headless Commerce and PWA define future-proof opportunities for retailers as both of the technology enhancement deliver faster site speed. This builds an omnichannel strategy to make the customer experience better and also helps in achieving Return on Investment, as an effective result.
This form of technology adoption will also help businesses to develop increasing engagement with customization available for content, products, and similar resources.
9705820.pdf
This document discusses Geoffrey Moore's concept of crossing the chasm, which refers to how disruptive innovations transition from early adopters to mainstream markets. It outlines the technology adoption life cycle and challenges for high-tech innovations. These include establishing a beachhead segment with an intractable problem, providing a complete solution, and focusing on acquiring, engaging, converting, and enlisting customers. The document also discusses frameworks for analyzing performance relative to viral growth and identifies key factors for developing enterprise technologies like compelling use cases and partnerships.
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Strategic management
- 2. ● Market timing is the act of moving in and out of market or switching between asset classes based on using predictive methods such as technical indicators or economic data. ● There are two types of timing strategies: 1. First mover 2. Last mover 2 TIMING
- 3. 1. First mover tactics ● Also known as market pioneers ● A business that obtains a competitive advantage by being first in the market with a product or service. 3
- 4. Advantages ● Brand loyalty ● Control of resources ● Have advantage when there is a high cost involved for customers to switch brands at a later date. ● Use of technology that is hard for late movers to copy. 4
- 5. Disadvantages ● Late movers can avoid mistakes made by the first movers. ● Late movers may modify the processes of the first movers for greater efficiency and cost reduction. ● Bear the economic burden of developing a new market that late movers can exploit. ● Change in customer needs ● Risk factor 5
- 6. “ 6 ● Also known as late follower or late market entrant ● A business that takes a wait-and-see approach to entering a new market. ● They believe in observing the new market and then come up with an improved or an innovative product or service LATE MOVER
- 7. Advantages 7 ● They learn from the mistakes of first movers ● They know all the strengths and weaknesses of first comers ● They analyse how first comers acquire their customers and then make their strategies ● Greater efficiency and less risk factor
- 8. Disadvantages 8 ● First mover earns customer loyalty. ● Coming up with innovative Product may be expensive. ● Difficulty in gaining market share through imitation. ● Barriers to enter in the new market.
- 9. Big concept FIRST MOVER OR LAST MOVER? 9
- 10. First movers ● Position of market leaders ● Being a pioneer is costlier ● Results in customer loyalty ● Late movers imitate technological advances ONLY ONE DECISION AWAY FROM SUCCESS Last Movers ● Greater efficiency and less risk ● Difficulty in gaining market share ● Aware about all the strengths and weaknesses of the pioneer company ● Difficulty in entering into a new market 10
- 11. “IDEAS ARE COMMODITY, EXECUTION OF THEM IS NOT “
- 12. Choosing the best option InventDiscover Imitate 12
- 13. COCA COLA 13 ● The coca cola mix was invented by John Pemberton ● Company was founded by Asa Chandler ● Established in January, 1892 ● Beverage company ● Operates worldwide ● Headquartered in Atlanta, Georgia, United States
- 14. WHY COCA COLA? 14 ● Pioneers ● Became the psychological standard ● Brilliant branding and advertising ● Built trust and goodwill that made them the first choice ● Made up of creativity, excitement, hopefulness and fun ● Benefited from people’s basic risk version
- 16. 1.8 billion NUMBER OF COKE BOTTLES SOLD EACH DAY 16
- 17. 3,500 Total number of products 79.96 billion $ Worldwide Revenue 1,50,900 employees Number of employees worldwide 17
- 18. 18 Analysis of Being the First Mover ● Product life cycle ● Weak competition, Higher market share and profit ● High Initial Investment ● Chances of going wrong and Making Mistakes
- 19. 19
- 20. 20 REINVENT
- 21. 21 WHY APPLE IS “APPLE” ? 1. For any product that Apple creates, the people who create it have to want it themselves 2. The products have to be easy to use 3. Keep things simple 4. Offer great customer service and in-store experiences 5. Apple only makes a product if Apple can do it better 6. Apple stays at least two years ahead of its competitors
- 22. 22 ABOUT APPLE ● Largest and most the profitable company ● Founded by Steve Jobs,Steve Wozniak and Ronald Wyane ● Incorporated in 1977 ● Headquartered in California, United States
- 24. 24 iPod ● Reinvented the scroll wheel: The halo effect ● Simplified the music search ● iTunes Music Store
- 25. 25 iPhone ● The Apple Touch ● Better interface ● Higher data storage ● Simple
- 26. iPad Reinvented by Apple after 20 years of existence 26
- 27. MACINTOSH ● Created Mac and introduced the first graphical user interface and mouse for commercial use in a PC ● CD ROM’S in all MAC’s gave birth to multimedia computing 27
- 28. 28 ANALYSIS OF LAST MOVERS ● Makes Fewer mistakes ● Analysis the market preferences ● Innovation is the key ● Lower entering cost ● Lesser risk ● May or may not lose the market share
- 29. SlidesCarnival icons are editable shapes. This means that you can: ● Resize them without losing quality. ● Change fill color and opacity. Isn’t that nice? :) Examples: 29