Knowledge Management And Internet Technology †Free Samples

Question: Examine about the Knowledge Management And Internet Technology. Answer: Presentation In the present business scenario,knowledge the executives and web innovation assume a noteworthy job in business system. Thus, a few associations useknowledge the executives since it is a key wellspring of getting manageable focal points. Moreover, the association has required acquiring and modernizing their essential information so as to avoid serious methodologies as for markdown on cost since judicious assets in the activity of a business are difficult to mirror. Aside from this, there is various organizations which use web based business to legitimately speak with the greater part of client at once in over the world. Thusly, while web based business has connected with business procedure and standard of the organization then it helps the business to upgrade their key development. Thus, it will prompt creation improvement in the exhibition. This paper examines the specific components named information the board and online business that positively affects the business execution of F oodmart Restaurant. Information the board and internet business in strategic policies As indicated by Hislop (2013), knowledgemanagement is a procedure of procuring, appropriating and fundamentally using the information. Moreover, KM is a control that prompts incorporate the procedure so as to keep, get to, repossess and shares the data in regards to assets of the organization. This data can be identified with records, process, past un-caught information, certifications, and learning of the people. It is contended that workforce can improve the predominance and choice force by making understanding as for the board. In addition, collaboration approach permits the Foodmart Restaurant to distinguish the experience and assessment of the high measure of clients and furthermore gives additional ideas with respect to inclination of clients. It urges the association to execute inventiveness and present day culture in their business condition. Alongside this, KM drives the Foodmart café to spread its information and access the present data in the business points of view. Accordingly, it very well may be opined that KM is a between disciplinary methodology which guides the Foodmart café to execute the development and social changes (Liebowitz, and Frank, 2016).Since, it can meet the associations prerequisite and get the serious advantages in the Australian eatery industry. This contention is upheld by various creators who clarified that KM can upgrade the productivity and viability of the business activity. Also, KM causes the organization to make fast move by creating understanding about foodmarts assets. It can likewise lead a review on the main part of individual and can pick the proficient individual since it will encourage the association to improve their business execution (Holsapple, 2013). As indicated by the Holtshouse (2013), KM is advantageous to improve the degree of clients fulfillment. The cross-coalition and sharing information is noteworthy to convey the additional incentive to clients. Foodmart Restaurant could be basic to offer brief reaction subsequently it will expand the interest of client as for items and administrations that are offered by the organization. It very well may be assessed that speedy reaction conveyance is huge for each organization. Along these lines, foodmart café can practice the KM way to deal with convey brief reactions and assemble noteworthy judgment concerning the development of the business. This methodology encourages the person to lead legitimately access about required data and devices. Thusly, it tends to be expressed that KM system is compelling to get upper hands in the café business of Australia (Jones, and Sallis, 2013). It is contended that information the board is advantageous to improve the highlights of item and administrations of the association. KM additionally improves the skills of the workforces and empowers them for collaboration by spreading the comprehension in physical and essential business condition. Thusly, it very well may be expressed that foodmart café can improve their business execution. Alongside this, the organization can be increasingly creative by practicing the information the board assets since it assists with getting to progressively current data (Becerra-Fernandez, and Sabherwal, 2014).Together with, foodmart café can encourage the prevalent nature of food and administrations by utilizing the KM. In preferred to this contention, it tends to be expressed that foodmart eatery can convey the prevalent administrations and find the new data through KM process. Thus, it is viable to upgrade the business activity and acquire serious advantages in eatery industry of Australia. Alongside this, information ought to be deliberately overseen in light of the fact that it will encourage foodmart eatery to pick up their gainfulness and gives increased the value of clients. The organization should actualize pre-orchestrated and common arrangement of business standard and approaches since it will empower foodmart eatery to limit the mistakes and wastages from tasks (Jimnez-Jimnez, et al., 2014). Along these lines, it very well may be expressed that organization can be progressively imaginative, taught and gainful by utilizing the KM since it assists with maintaining a strategic distance from the obstacles from a business procedure. As indicated by the Alegre, et al., (2013), radical cost cutting is noteworthy for each organization. Foodmart café can utilize the information the executives foundation and consistently reuse the data by utilizing the incorporated framework since it will give advantages to the two clients and business. Besides, information the board empowers the organization to deal with their information all the more successfully and proficiently. It additionally lessens the repetition and wastages from creation. Thus, KM would be useful for foodmart eatery to spare the essential costs in both short and long haul. It likewise encourages the business to recognize what should be possible in business improvement and what is required for development, and where is a prerequisite of utilizing their insight. It is contended that electronic trade is a huge segment in current business due to tending to the requirements of the organization, merchants, and clients. It is additionally gainful for foodmart eatery to decrease the costs and makes prevalence in items and administrations just as increment the brief assistance conveyance. Web based business exercises ought to be practiced by foodmart café so as to impart paperless data to the clients (Laudon, and Traver, 2013).It should be possible by utilizing various instruments named electronic release board, electronic store move, other system based advances, and electronic information trade. In the present business situation, online business is utilized to normalize the business activity. By utilizing the electronic channels, for example, messages, the web, cell phone and PC organize, foodmart eatery can share the data about its item and administrations with the clients (Chiu, et al., 2014). This contention is bolstered by various creators who expressed that an enormous number of chances are encouraged by the web for an organization, for example, underwriting of item and administrations. With the assistance of web based business rehearses, foodmart café can make a positive picture in the clients mind. Further, it can make a companys sites to spread the data and make mindfulness among the greater part of clients (Fang, et al., 2014). It additionally encourages the clients to check the inventories detail and items qualities and discharge the online press for organizations. As per Wang et al. (2016), ad by means of online encourages the organization to contact with wanted clients and capable vendors for selling its item and administrations. Also, foodmart café can convey the wide classes of item and administrations through online channel when contrasted with selling it in physical stores because of the accessibility of clients are huge in online stores. Likewise, web based business encourages the points of interest to both forthcoming clients and business. For instance, the client can get wide classes of food from online channels as it would make request towards it. Therefore, it will favorably affect the benefit and money related execution of the business. It is contended that web based business empowers foodmart café to convey a wide scope of administrations through online channels like requesting food, input, objection, rewards and markdown offers, and online installment mode. Be that as it may, it can't convey the physical merchandise subsequently it might utilize successful flexibly chain the board framework by which it can send the item to the clients (Turban, et al., 2017). Alongside this, it must pick the alternative of mechanized stock administration and web based following to convey the physical merchandise with the clients. Foodmart eatery can give distinctive online installment mode to exchange named charge card installment preparing, and electronic store move (Huang, and Benyoucef, 2013). Accordingly, it is gainful to make a particular picture in clients mind when contrasted with its rivals in Australian eatery industry. This contention is bolstered by certain creators who expressed that organization can expand the income of item and administration by offering help to clients through online channels. In the underlying stage, foodmart eatery can share their electronic piece of the items like sharing its items menu on sites of the organization. Simultaneously, it can make a gathering as for clients for conquering their issues (Hartono, et al., 2014). Foodmart café can likewise furnish the online talk process with liberated from cost for their clients in which they can impart about purchasing procedure of merchandise and can get the help of representatives. As indicated by Da Costa (2016), web based business is huge in current strategic policies because of the accessibility of a wide ca

What Is the Secret to Long Life?

What is the key to long life? The key to long life all relies upon how we deal with our own bodies. In the wake of stepping through my exam on Blue zone I saw numerous negative behavior patterns that impeded me living longer. As per Blue zones Vitality test my natural age was two years more established than what I truly was. My future wasn’t as high the same number of different friends of mine that took the test. MY future age was 79. 2. In the event that I fix my unfortunate propensities its almost certain those 19. 4 years will be added to my future age.My future ages were this low due to the propensities I have that are bad for my body as I get more established. One major issue that I have is I’m the vast majority of my time. Blue zone suggested that I should fight my sentiments of worry by talking it over, working out, eating right and getting enough rest. I likewise discovered that nervousness can in light of the fact that you skin gets pale, pulse increment and mu scles to worry. At the point when I get a tension the most ideal approach to control it is to simply perceive indications of uneasiness and afterward go for a stroll or take in deeply.Another negative behavior pattern is that I don’t eat the same number of vegetables as my body ought to get. Blue zones suggested that in the event that I was offered a burger and vegetables, it bodes well to get the vegetables which are better for my eye wellbeing. A logical report was done and inferred that that individuals who ate the most elevated measure of yellow and dim green, verdant vegetables had a decreased possibility of creating visual deficiency. Then again o additionally needs to appreciate some fruits.In my test it expressed that individuals who have eats less carbs wealthy in foods grown from the ground bring down their danger of Alzheimer and dementia by 30%. Since I’m an undergrad I do get a great deal of cheap food. I have to eat more advantageous and eat food with les s calories. It difficult for me to avoid the shoddy nourishment since it appears to be so engaging contrasting it with the solid food. Be that as it may, my wellbeing is significant and the most ideal approach to get my body sound is to maintain a strategic distance from nourishments on high fructose syrup and getting mindful of what I put in my body. My body needs work out, more beneficial food and enthusiastic control of nervousness and outrage.

7 Tips For Applying For Jobs After Graduation

7 Tips For Applying For Jobs After Graduation How to Stand Out When Applying For Jobs How to Stand Out When Applying For Jobs It’s graduation time! You’ve got your gown, your hat, and your diploma. Now, it’s time to enter the working world. Are you ready for the challenge? If you’re scared, don’t worry. Everyone is intimidated after they graduate. You’re entering a competitive workforce with many other graduating classes, up against a world of people who are all feeling the exact same way you are. So how do you set yourself apart from the rest? 1. Look For a Mentor This might seem unnecessary, but finding someone who is successful in the industry you’d like to join is a great way to network, learn about the industry, and figure out what you need to do to get ahead. Your mentor could be anyone, even a parent, who will provide you with sound career advice. 2. Start From the Bottom When you graduate, you are entering an industry at the bottom. Don’t expect that you’re going to get a great position right away and earn tons of money as soon as possible. In the working world, working your way up is a part of life, so be prepared to work hard and apply to the jobs you have the right skills for. 3. Check the Posting Time According to job search engine Monster.ca, the best time to apply for a job is within 48 hours after it’s posted. Sign up for email alerts from a variety of job posting websites to make sure you are one of the first to know when a new job goes up. Get into the routine of checking for new jobs every day, whether it’s right when you wake up or as you unwind in the evening, and never be afraid to hit that “submit” button. 4. Tailor Your Resume and Cover Letter to That Job Always double-check your resume before you apply for a new job and make sure it’s as relevant as possible to that position. Check which skills and experience you have listed, and adjust if you can think of something else you’ve done that may be better suited for the job. Write a cover letter specifically for that position to indicate why you’re perfect for the role. Too many people cut and paste the same cover letter, and future employers know when you do this, so set yourself apart by being as personable as possible. 5. Do Some Research Sit down and Google your industry. Read blogs, check out local companies, see who the big players are. The more you know, the more prepared you’ll be in interviews as well as for your first day when you eventually land the job. 6. Check Your Online Presence Go through your social media accounts and Google yourself to see what comes up. Do you need to have those pictures of all the tequila shots you took on Spring Break last year on Facebook? It’s extremely common now for potential employers to do a quick social media check to see what candidates are posting online, so make sure your accounts say something great about you. 7. Be Confident You should be proud of yourself. You’ve made it a long way from your first day of orientation week! Be confident that you are going to be great wherever you end up, and that you have the skills and personality to make it. Get Help Making The Perfect Resume Your resume is one of the most important elements as you begin to apply for jobs, so naturally you want to take every precaution possible to make sure it helps you get that interview. Our team of professional writers has plenty of experience crafting attractive resumes that will help you sell your skills to future employers. Ready to land that amazing new job? Order your resume now! References: Bortz, D. (n.d.) How to find a job after college. Monster.ca. Retrieved from how-to-find-a-job-after-college. Burry, M. (2017). What to do in college to get a job after graduation. The Balance. Retrieved from college-tips-to-get-job-after-graduation-4140204. 7 Tips For Applying For Jobs After Graduation How to Stand Out When Applying For Jobs How to Stand Out When Applying For Jobs It’s graduation time! You’ve got your gown, your hat, and your diploma. Now, it’s time to enter the working world. Are you ready for the challenge? If you’re scared, don’t worry. Everyone is intimidated after they graduate. You’re entering a competitive workforce with many other graduating classes, up against a world of people who are all feeling the exact same way you are. So how do you set yourself apart from the rest? 1. Look For a Mentor This might seem unnecessary, but finding someone who is successful in the industry you’d like to join is a great way to network, learn about the industry, and figure out what you need to do to get ahead. Your mentor could be anyone, even a parent, who will provide you with sound career advice. 2. Start From the Bottom When you graduate, you are entering an industry at the bottom. Don’t expect that you’re going to get a great position right away and earn tons of money as soon as possible. In the working world, working your way up is a part of life, so be prepared to work hard and apply to the jobs you have the right skills for. 3. Check the Posting Time According to job search engine Monster.ca, the best time to apply for a job is within 48 hours after it’s posted. Sign up for email alerts from a variety of job posting websites to make sure you are one of the first to know when a new job goes up. Get into the routine of checking for new jobs every day, whether it’s right when you wake up or as you unwind in the evening, and never be afraid to hit that “submit” button. 4. Tailor Your Resume and Cover Letter to That Job Always double-check your resume before you apply for a new job and make sure it’s as relevant as possible to that position. Check which skills and experience you have listed, and adjust if you can think of something else you’ve done that may be better suited for the job. Write a cover letter specifically for that position to indicate why you’re perfect for the role. Too many people cut and paste the same cover letter, and future employers know when you do this, so set yourself apart by being as personable as possible. 5. Do Some Research Sit down and Google your industry. Read blogs, check out local companies, see who the big players are. The more you know, the more prepared you’ll be in interviews as well as for your first day when you eventually land the job. 6. Check Your Online Presence Go through your social media accounts and Google yourself to see what comes up. Do you need to have those pictures of all the tequila shots you took on Spring Break last year on Facebook? It’s extremely common now for potential employers to do a quick social media check to see what candidates are posting online, so make sure your accounts say something great about you. 7. Be Confident You should be proud of yourself. You’ve made it a long way from your first day of orientation week! Be confident that you are going to be great wherever you end up, and that you have the skills and personality to make it. Get Help Making The Perfect Resume Your resume is one of the most important elements as you begin to apply for jobs, so naturally you want to take every precaution possible to make sure it helps you get that interview. Our team of professional writers has plenty of experience crafting attractive resumes that will help you sell your skills to future employers. Ready to land that amazing new job? Order your resume now! References: Bortz, D. (n.d.) How to find a job after college. Monster.ca. Retrieved from how-to-find-a-job-after-college. Burry, M. (2017). What to do in college to get a job after graduation. The Balance. Retrieved from college-tips-to-get-job-after-graduation-4140204.

Thomas Hobbes Leviathan Argumentative Essay - 1178 Words

In Thomas Hobbes’s Leviathan, Hobbes argues that humans are inherently only self-interested and will do anything to benefit themselves (Hobbes, 6). Before they form society, humans live in the state of nature. This is a brutal place governed by no laws, contracts, or power to restrict human nature. People are free to kill each other without no repercussions, forcing everyone to constantly fend for themselves and live in fear of being killed. He describes this as the worst way to live life, one that is â€Å"solitary, poor, nasty, brutish, and short† (Hobbes, 12). However, Hobbes’s argument is weak as he relies on the questionable premise that humans are only self-interested. In reality, other factors complexify people and veer us away from the†¦show more content†¦They agree to give up some of their rights that could be an appetite (such as the right to kill another person) to ensure that they do not face a greater aversion (such as being killed or stole n from) (Hobbes, 14). In the end, they are still looking out for their self-interest and albeit with lesser rights, they can now participate in a safer society. Here, a common power (Leviathan) agreed upon by the members of the society can maintain peace and be the sole jurisdiction to ensure the safety of the society’s citizens while they pursue their self-interests. Although Hobbes’s argument is geometrically built and therefore structurally sound, he is too reductionist and the axioms that he relies on are weak. Hobbes leaves out important elements of human nature, notably natural sympathy. In a mother-baby relationship, the mother takes care of the baby, even though the baby is a liability. The mother could be pursuing much more efficient Hobbesian self-interested ways to gain pleasure such as climbing up the corporate ladder to gain more riches, honour, or command. Yet, the mother innately wishes to take care of the baby because she feels a natural connection to it. Another way we know that self interest isn’t the only force driving us is that we feel conflict. If we asked to provide a kidney transplant to a family member and were only looking at our

Bowlbys Theory of Attachment Essay Online For Free - Free Essay Example

Sample details Pages: 4 Words: 1156 Downloads: 1 Date added: 2017/06/26 Category Psychology Essay Type Argumentative essay Tags: Childhood Essay Did you like this example? In the light of changes to the family since 1950 are Bowlbys ideas about care for young children still relevant today? In this paper, Bowlbys theory of attachment and child care will be outlined along with additions from other theorists such as Rutter and Ainsworth. From this we will see how the evolution of the family unit since the 1950s has been affected by such theories along with welfare policy and social theorists which have influenced family life and childcare practices in the UK. Bowlby described attachment as the bond that develops between a baby and its primary caregiver. It is characterised by the interaction patterns which develop in order to fulfil the infants needs and emotional development. Bowlby noted the apparent distress in children separated from their mothers in unusual circumstances e.g. hospitalisation. In studying the more abnormal and distressing situations he attempted to shed light on an understanding of normal emotional attachment development, and how a disruption could prove damaging to the child emotionally and through to adult maturation. Bowlby suggested t hat the presence of the mother was just as crucial to the baby as being supplied basic needs such as food. His conclusions led him to postulate that the distress at separation from the mother was universal in babies. Bowlby characterised this distress as following the pattern of infant protest, followed by despair and ending in eventual detachment. The term separation anxiety was brought about echoing ethological survival techniques in which patterns of actions enable survival of young animals. Such ideas influenced Bowlby in postulating a significant period attachment of one to five years which was imperative historically to biological survival, and if they were not in place then emotional and intellectual problems would occur in adulthood. This can be seen as a rigid attitude and has played a large part in influencing childcare decisions through the establishment of a connection between maternal absence, child care (including institutional and foster care) and later devel opmental problems. Studies from Rutter and Ainsworth have agreed with an attachment principle but have developed it to include situational variables such as previous home life, relationships, depth of bonding and care and reasons and reactions of the caregiver in dealing with an absence and return situation that can have an effect on the child above any basic separation. The length of absence, quality of care giving within that absence and inherent flexibility and adaptability of infants as well as their capability to make multiple attachments all need to be taken into account within this area. During the 1940s Bowlby made a connection between the attachment of an infant and mother and the shaping of an infants personality. From this an association was placed on the mother caring for the child instead of working. At this time welfare policies were focussed on a post war development of the family, and working freedoms afforded to women during the war were heavily curtailed a s was war time nursery care. Popular policies suggested women should now be investing in their families as a duty. Thus if female workers were not being encouraged politically as an economic asset then child care policy provision was also diminished. Here Bowlbys ideas fuelled policy through popularising images of home based child care and family values by experts. Rutter later influenced changes through his findings of multiple attachment making in children although stressed that continuity of attachment was important. He was in support of child day care as long as it was continuous and high quality, although a preference of parental care was suggested by Rutter. There is a difficulty in isolating variables which result in positive and negative attachments. Indeed some feminists argue that stay at home mothers are often at risk of harming their children through an inability to cope and lack of support from immediate or extended family. Associated with this argument is that of the risk from domestic violence which increases isolation and effects the development of the child even if the primary caregiver is ever present. From the 1950s an increased development of the nuclear family has been argued to provide a duel function. In this the family is seen to provide close personal relationships and act as an economic strategy for development and to maintain stability and control. Such evolution of the family has been characterised by transience and isolation of family units from the extended family and community itself. A close knit extended family can provide more options for child care and support whereas otherwise external methods of care are needed. If maternal proximity with the under-fives is crucial then entire communities would be maladjusted by design and this clearly cannot be held across the board. Again the issue of consistency and quality over quantity of child care can be bought to view. Popular media along with welfare policie s have in recent years sought to not only improve childcare and rearing practices, provide support, normalise differing household situations such as lone parent, and expansion and regulation of child day care provision. Feminist theory has been at the forefront of womens re- entry to work force as well as a normalisation of divorce and single parent or co-habiting (step) households. On the other hand the feminist push for womens employment rights has resulted in inevitable contradictions as women are pulled in both directions, and indeed even the act of having children at all is currently considered heavily in an economic light due to the increased cost of living and childcare fees. Nowadays we can see increased governmental intervention in support of the family in the form of lengthening maternity and paternity and parenting care rights, childrens rights, tax credits, flexible working, child care and pre-school provisions and subsidies, and the importance of family environ ment and child security building in issues of fostering and child protection. Thus the family by whatever shape of form it may take in the UK is heavily affected by the economic requirements and government policy provision. It is now the norm for women to work as well as be responsible for child care and household upkeep. Subsequently it is the norm for mothers to be separated from babies before their first birthday due to monetary need and often this has to be longer than desirable due to a cycle of economic need and high child care fees. Overall, I can conclude that Bowlbys ideas although outdated have persisted through the decades and still influence child rearing and day care decisions. It can be seen as persisting in governmental policy to this day for example, in maternity leave being extended to cover twelve months leave Bowlby would surely support this move. In all Bowlbys ideas of attachment and primary parental care giving remain pervasive and are ingrained with in the family unit in the UK, although an acknowledgement of multiple attachments and quality of child care are now highlighted over simply the primary care givers proximity. Don’t waste time! Our writers will create an original "Bowlbys Theory of Attachment Essay Online For Free" essay for you Create order

Swot Analyss Free Essays

string(144) " the business to compensate for financial losses that would arise from the death or extended incapacity of an important member of the business\." Strengths Comar chemicals is regarded as a leader in the tyre and paint industry. This phenomenon is ascribed to the following strengths: †¢Contracts in place with Goodyear, Continental, Plascon, Bridgestone, Dunlop, and Michelin. †¢Product quality of the highest standard. We will write a custom essay sample on Swot Analyss or any similar topic only for you Order Now Automated plant control systems in place, constant in-production quality control tests controlled by chemical director, Vernon Redding. Compliant raw materials with specifications are being utilised. †¢Succession planning in place since the appointment of Stefan as operational manager. This person is ear marked to substitute Vernon Redding, in the event of his departure. Buy and sell agreement entered into by directors, Udo Eric Eichrodt and Dieter Roland. †¢Management team is experienced and highly qualified. †¢Udo Eric Eichrodt: 30 years – BComm Marketing Management †¢Dieter Roland: 29 years – Bcomm Investment Management †¢Vernon Redding: 45 years – PhD Chemistry †¢Stefan: 12 years – BScHons Chemistry †¢May Rossouw: 24 years – BCommHons (Management Accounting) †¢Nicki de Villiers: 15 years – MComm (Transport Economics) †¢Low staff turnover. The company invests in staff morale as it understands it to be its biggest asset. †¢BEE Status 20% black owned, Vernon Redding, Indian. Promotes business in South Africa and abroad. †¢ISO 9001:2008 Certified (International Organization for Standardization. ) Little trouble has been encountered in the past to comply with minimum standards required by this certification. †¢Unqualified annual audited financial statements. This is testament to good governance practiced. Low gearing, although non-current assets are shown at R4m. Market value of plant and property exceeds R20m. Company is liquid, considering current assets to current liabilities ratio of 4:1. †¢Comar chemicals operates from totally owned premises. European Safety Reliability Association (ESRA) certified. Toxic waste is dealt with in a responsible and reliable manner. Contamination of ground is highly unlikely as the company places a high premium on â€Å"going green. † †¢Flexibility and research development ensures ongoing sustainability. †¢Product reliability. Order tracking procedure and commitment of staff ensures a good reputation of the company. †¢Absolute advantage, ability to produce specific product more efficiently than any other nation. Factors of production are relatively cheaper than any other country. †¢Zero tolerance for human error. The company has strict rules and procedures that need to be followed to ensure the mainstay of the business. Disciplinary actions are taken against culprits, which could lead to dismissal. Weaknesses The following weaknesses have been identified: †¢Comar Chemicals is faced with multiple taxes due to the fact that it is a multinational enterprise that runs in various different contries. Operating in various different countries leads to multiple tax jurisdictions. Multiple tax jurisdictions may lead to the overlapping of taxes and the company may end up with a double taxation. (1) †¢The economic model introduces some weaknesses to the company. There are various factors that affect the economic activity of Comar Chemicals. These include the resource limitations placed on the company’s ability to obtain certain chemicals or the availability of chemicals needed in the factors of production. Environmental or geographical constraints can increase their expenses due to extra transportation costs for raw materials and finished goods. The factory could be situated in an area which is prone to seasonal bad weather (Cape Town). This could slow down the process of moving materials and Comar Chemicals will bear the economic impact of a loss of potential revenue and increased costs. Theirs will also be certain institutional and legal requirements that Comar Chemicals will have to follow and they will vary in the three different countries that they operate in, South Africa, Switzerland and Germany. Comar Chemicals may have to adhere to different legal levels of Co2 production that they create during their production process and will have to regulate these levels in compliance with the legal levels set by the government. †¢Comar Chemicals has no buy and sell agreement supported by life insurance. A buy and sell agreement is a binding legal document that governs the conditions if a co-owner dies or is otherwise forced to leave the business. The fact that there is no buy and sell agreement supported by life cover means that if owner of the company passes way or is forced to leave the business then all the debt or liabilities incurred by the business will be left to the closest relative of the owner. This could lead to a liquidation of the business if there is no insurance cover. Therefore the business is not completely safe in the case of a personal crisis within the business. 2) †¢Promotion for staff is limited due the low staff turnover that Comar Chemicals has. Comar Chemicals has a total of 38 employees that includes two scientists, one accountant and one logistics manager. This can also be seen as a strength however the fact that there are so few employees, there are few promotions to employees. This can cause employees to become less motivated towards their job and c ompany and in turn this could decrease the total production and the total efficiency of production. †¢Employee empowerment is the act of giving more responsibility to workers in the work place. 3) The empowerment of staff can lead to a weakness within Comar Chemicals due to the fact that firstly, the business has a relatively small number of employees. This can lead to an increase in conflict between the employees as to why one employee has been empowered more than another. This can cause bad interpersonal relationships between employees. Empowerment can also be a weakness if the wrong employee has been empowered to take on a certain task or manage a project that he or she has not been specifically trained for. This could create problems within the managerial and operational sectors of Comar Chemicals. If empowerment of employees is going to be an on-going activity at Comar Chemicals then it has to be carried out in a way that makes sure that the right employees are being empowered for the right reasons. †¢Comar Chemicals has no key man insurance. This is very similar to the absence of a buy and sells agreement, supported by life cover that was previously mentioned. Key man insurance is an insurance policy that is takes out by the business to compensate for financial losses that would arise from the death or extended incapacity of an important member of the business. You read "Swot Analyss" in category "Essay examples" Key man insurance can cover many insurable losses that include, losses related to the period when the key person was unable to work and insurance to protect profits, insurance to protect shareholders and partnership agreements. Without key man insurance, Comar Chemicals is vulnerable to the chance that something happens to the owner and there is no protection or financial security for the business in the future. (4) Opportunities There are many opportunities for Comar Chemicals to utilise to maximise their business productivity and profitability. There are two types of opportunities, external and internal. External opportunities affect the organisation due to independent factors. Internal opportunities exist within the firm. Opportunities, when realised, can have enormous rewards for the business if the opportunities are exploited correctly. An opportunity is indication of positive potential that can help a business increase its success. Possible sources of business opportunities in most industries and markets include: Potential Business Opportunities Technological innovation New demand Market growth Demographic change Social or lifestyle change Government spending programmesHigher economic growth Trade liberalisation EU enlargement Diversification opportunity Deregulation of the market The opportunities that Comar can use to their advantage are: import quotas, developing markets, revising job descriptions/digressions, improving competitive levels, forward exchange cover, Solar power, life policies, association with universities and joint development with customers. An Import Quota is like a form of protection. It fixes the amount of products a foreign producing firm is allowed to bring into a country over a specific time period, which is usually a year. The objective of an import quota is to limit imports into a country therefore encouraging the use of domestic products and services, as the amount of the good being imported is limited the price of the specific good increases therefore domestic firms benefit. Comar, being situated in South Africa, Switzerland and Germany, can use this as an opportunity by increasing domestic employment. There will be a larger demand for Comar Chemicals because import quotas will make it more expensive to import these goods from international competitors. This will encourage Comar to employ more citizens that are qualified for the job because of the expanding demand of their product and the need for increased labour and skills in the organisation. Comar is a small business, with 38 employees including two scientists, an accountant and a logistics specialist. Comar is 14 years old, which is relatively young compared to it competitors therefore it can be considered an â€Å"infant industry† which is still developing and is not big enough to compete fairly. Import quotas allow Comar to mature onto a same competitive level as international organisations. South Africa is a developing country and the market for metal carboxylates is expanding with the increase of paint and coatings, printing inks and chemical industry, polyester industry, grease and gear oils industry and PolyButadiene, Isoperene Butadine and Copolymers industry. With the increase of construction and manufacturing in South Africa, these industries are in higher demand than ever before. Comar can improve their competing levels through product quality. Quality relates to ‘appropriate use’: how well a product does what it is intended to do. This can include a compliance of raw materials with specifications, detailed manufacturing and quality control test procedures, in-production tests of final products, introduction of automated plant control systems. These quality control methods leave little room for error, positioning the product on a high level of quality which will lead to a smart modern working environment and a reflection of the quality of the business as a whole. Comar’s leading product is COMCAT, which inclueds a rare earth catalyst which is used in the synthetic rubber industry to manufacture advanced rubber tyres – making tyres softer but more durable which in turn lowers the level of CO2 emissions from vehicles. This gives Comar a competitive advantage as their products are also helping the environment and decreasing the level of harm through innovative products, which will draw the attraction of buyers. There can often be discrepancies about the actual responsibilities, tasks and duties of a certain position within the organization; this can be managed by revising job descriptions. There must be an accurate reflection of the true functions and responsibilities for a job description to be effective. A comprehensive job description can be used in management to measure employee performance and employees can use the job description as a guideline to comprehend the expectations of the position. This can lead to improved productivity and ohesiveness within the organization to help realize the organizations objectives and goals. Comar can use the opportunity to become involved with universities to further their research and provide university departments with their expertise of the product to evolve students into potential employees of their firm or for that specific industry. For example, Comar could give bursaries to deserved students to pay for their studies in a BSC, specializing in CO MCAT (PolyButadiene, Isoperene Butadine and Copolymers industry). They could provide all the necessary tools (research, expertise, information) in order to establish awareness of this specific product and market the need for this specific scientist in this field. Joint development with customers involves a good relationship between the manufacturer and the customer. The manufacturer must be enthusiastic and prepared to open up its daily practices and activities to its customers, this will give the customer the opportunity to carefully scrutinize and evaluate the ways in which the manufacturer operates, during the production process, and the quality of the finished products. An important issue when dealing with joint development with customers is communication. When there is a healthy line of communication between the manufacturer and the customer, there can be am exchange of ideas between parties leading to effective production and customer satisfaction. Threats Threats are conditions in the business environment that are uncontrollable and have the potential to harm business profitability. One of the most common threats is competitors. There are a number of threats that Comar may face, including: future trends in the specific field, social issues, the economy, funding, demographics and the physical environment. When observing the potential threats that Comar may face, the following needs to be determined: the obstacles Comar may face, competitor’s activity, quality standards and changing technology. Threats can be divided into two categories namely, industry threats, an increase in competition or a decrease in the market size, and macro threats, threats that affect all industries in Comar’s area. Possible sources of business threats include Potential Business Threats New market entrants Change in customer tastes or needs Demographic change Consolidation among buyers New regulationsEconomic downturn Rise of low cost production abroad Higher input prices New substitute products Competitive price pressure A potential threat Comar may face is the diversity. Diversity is often defined as a positive term for a business, but it also comes with threats that have the potential to ruin productivity. Comar has a diverse workforce, co-workers each have different experiences and perceptions as they have all come from different backgrounds. This could cause cultural clashes which can decrease productivity and cohesiveness of the business as a whole. Comar could also experience divisions in staff members due to the formation of cliques and other groups, this can create competition between employees rather than teamwork, a lack of respect amongst one another and this could lead to costly diversity training to resolve diversity issues within the organisation. Comar has a diverse client base as their company is also situated in Switzerland and Germany. It is therefore crucial for Comar have a bi-lingual customer service, if they do not they will lose a massive amount of clientele as there needs to be effective communication between the two parties in order for the business to be successful. Social issues in the business environment may be a threat to Comar. A social system is a pooling of ideas, attitudes and behaviour which are involved in human relations and interactions. Comar is influenced by its customers attitudes and behaviour, if they are negative relationships within the organisation this could dampen productivity and decrease business profitability and if there are social issues external to the organisation, such as political unrest, could affect consumer behaviour negatively and affect the success of the business. The political; and legal system can also pose as a threat to Comar, as business have to follow the specific regulations as set out for them by the government, it creates a set of rules and guidelines that business are expected to adhere by, if a business does not there could be serious consequences that could lead to decreased profitability and even as far as a business being banned. The monetary system facilitates business exchange. Monetary activity has distinct basic functions, namely saving, borrowing, spending and earning, which are all linked to business profitability. Comar has to pay careful attention to all these activities because each of these factors can easily turn into a threat for the business. There are many different parties involved when dealing with money, they are financial institutions, debtors, creditors, customers and suppliers. The interest rate is very important when Comar is dealing with its monetary activities, when an interest rate is high, it increases Comar’s costs and will limit the amount of spending that Comar can participate in. Exchange rates are the value of one nation’s currency in comparison to another. It is very important when determining a business’s effectiveness and whether it will serve as an opportunity or a threat. Comar is a company that does business in South Africa and globally, therefore exchange rates will have an enormous effect on the profitability. When Comar exchanges its products over national borders causing another currency to become involve, fluctuations in exchange rates can lead to profits or losses for Comar. Comar is at an advantage when the rand is relatively strong compared to the currency that the organisation is trading with. When the rand is weak compared to the business it is doing the exchange with, Comar is at a disadvantage as it will be more costly to exchange products across borders. A massive threat that Comar faces is import duty, which is a tax on goods imported into a country. This causes prices to be higher because of the tax cost involved. This cost is passed onto consumers at higher prices, which in turn can lead to consumer dissatisfaction and a loss in clients. Trade restrictions were introduced to restrict importing for many reasons, mainly to protect domestic industries. There are two types of restrictions, tariffs and non-tariffs. Non-tariffs include, methods such as embargo, import quota – which is a limitation on the amount of goods a business is allowed to import, foreign exchange control and currency devaluation. These trade restrictions pose a massive threat to Comar because the organisation is continuously trading over borders and having to deal with trade restrictions, which will inevitably hinder profitability. How to cite Swot Analyss, Essay examples

Market Structures and Pricing Strategies

Abstract A market structure is a tool used to determine the pricing power of certain products in diverse firms. Research has shown that there are numerous market structures with unique pricing strategies in place. The price of goods and services in a firm depend on the levels of demand, cost conditions and competition.Advertising We will write a custom research paper sample on Market Structures and Pricing Strategies specifically for you for only $16.05 $11/page Learn More Besides, price fixation is one of the key managerial functions. It is frequently reviewed to ensure that a firm makes a reasonable profit margin. The market conditions determine the type of market structure and pricing criteria to be used in a particular firm. Moreover, businesses cannot operate in isolation. In other words, a firm requires a robust marketing platform for it to operate effectively. Hence, it is important to select an appropriate market structure for a business to make significant returns. Economists have identified four major market structures that are unique in terms of both operation and effectiveness in meeting the demands of customer. The market structures have been discussed in this paper in relation to pricing strategies. Introduction A market structure can be defined as a core characteristic that makes up a platform for buying and selling goods and services (Samuelson Marks, 2006). It is common knowledge that a market exists when there are buyers, sellers, products, competition, product differentiation as well as the ease of entry or exit. From this definition, Rubin and Dnes (2010) highlight that market structures are individual aspects that influence the behavior of buyers and sellers. Ellickson, Misra and Nair (2012) also define a market structure as the number of firms in a market that are able to produce similar goods or services. The nature of a market structure greatly influences the behavior of producers. Therefore, it affects the market price of a particular commodity or service (Rubin Dnes, 2010). In addition, a market environment affects the supply of commodities and equally creates barriers for entry. This paper discusses some of the notable market structure by analyzing their pricing strategies alongside relevant examples. Perfect Competition Description This describes a situation whereby a firm does not have a particular independent pricing policy. Therefore, firms that embrace this market structure have to comply with the prevailing market prices (Samuelson Marks, 2006). At this point, a firm is at liberty to market its goods and services.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Lack of control over a market often creates an open platform for buyers to choose less costly products. If a firm sets very high prices in a marketplace, it might end up making few or no sale at all.†¨It is imp ortant to note that in this type of a market structure, there is no specified price for certain quality or quantity of goods (Rubin Dnes, 2010). Therefore, it is upon the seller to decide which quantity to offer and at what price. Typical firms have no influence over demand and supply because new sellers enter the market as they wish. Ellickson et al (2012) assert that typical competitors in such a market end up earning no profit at all. Rubin and Dnes (2010) point out that there are no barriers to enter or exit such a market structure since there are unlimited number of both sellers and buyers. From an economic perspective, this market structure exists when firms produce similar and standardized products. It implies that different firms only compete for prices. Moreover, buyers are aware that price competition exists. Therefore, all the available products must be sold at a common or poplar market price (Rubin Dnes, 2010). Both consumers and firms also tend to countercheck the pri ce even though they have no direct influence on the market. In order for a firm to maintain its customers, it is compelled to sell either at the prevailing market price or at a lower price altogether (Samuelson Marks, 2006). Therefore, firms end up selling a small proportion of their total output. Pricing Strategies Prices are determined by the forces of supply and demand. It is worth to note that there is perfect substitution where all firms produce homogenous, standardized and undifferentiated products. At this point, the demand curve in each firm is perfectly elastic and horizontal to the price line (Rubin Dnes, 2010). This implies that a firm can only sell some of its output without altering the price. Any slight increase in price results into lack of sales since buyers tend to resort to a substitute from other competitors. In this type of a market structure, the â€Å"law of one price† does not change and all market transactions are done at the same price (Samuelson M arks, 2006). Monopolistic competition Description In this type of a market structure, a firm ignores a market price and sets it own pricing without considering the causal effects of other firms with different prices. In this case, a group of producers offer a common product that is not identical. Therefore, it triggers competition.Advertising We will write a custom research paper sample on Market Structures and Pricing Strategies specifically for you for only $16.05 $11/page Learn More Firms deliberately differentiate their products and set prices that are competitive in nature (Samuelson Marks, 2006). It is important to note that there are no market barriers. Monopolistic competition resembles a perfect competition model except that the products of the former are different. Pricing Strategies Firms set their own prices that are different from those of competitors since products sold are also differentiated in terms of quality and quantity. In this cas e, firms aim to create brand names by reinforcing product differences (Rubin Dnes, 2010). Product differentiation is one of the strategies that enable producers to set high prices without necessarily losing market dominance to competitors. It is worth to note that the demand is elastic hence; firms can increase their prices whenever they wish to do so (Samuelson Marks, 2006). Oligopoly Description In this case, about three sellers occupy a larger share in a particular market. The firms may experience price wars as they compete against each other for maximum gains. Increasing prices affects the volume of sales of other firms (Ellickson et al., 2012). For instance, when one of the competing firms increases its market prices, consumers will obviously buy from the competitors. Therefore, producers must assess the impacts of their decisions in order to decrease or increase prices. It is worth to note that few sellers in the market may be rivals. This may eventually lead to conflict (Sa muelson Marks, 2006). However, there is great ease of entry into the market unlike the case with a monopolistic structure. Pricing Strategies Sellers first understand the behavior of consumers before setting prices. The pricing policy of an individual producer affects others. Therefore, there is an element of price rigidity that compels producers to opt for non-price competition (Samuelson Marks, 2006). At this point, prices are no longer depicted by demand and supply. Prices are set after critical, interactive and strategic thinking (Samuelson Marks, 2006). The fate of oligopoly pricing strategy is interdependent even though it is determined by economic factors such as consumers’ tastes and preferences.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Monopoly Description This refers to a market structure whereby there is only one seller of a particular product. In other words, a single firm in the market offers goods or services to consumers. Nonetheless, pure monopolies are rare. From the statistical review of literature, it is evident that a monopolistic market generates approximately 3% of the gross domestic product (GDP) in the developed economies such as the US and UK (Samuelson Marks, 2006). Hence, monopoly exists when 90% of the market is dominated by a single firm. Rubin and Dnes (2010) elucidate that barriers to market entry are common in this type of market structure. This is a precondition that is deliberately set to prevent other firms from venturing into the market (Rubin Dnes, 2010). Furthermore, there are no perfect substitutes. Consumers have no choices to make since they have to buy products available in the market. Pricing Strategies Prices of goods and services are determined by single players in this type o f a market structure. Most monopolists use trial and error method when pricing their products. Ellickson et al (2012) argue that monopolists also determine prices by balances profits and losses. When a firm reaches an equilibrium point where marginal costs are in the same level with marginal returns, monopolists decide their best market price (Samuelson Marks, 2006). Usually, monopolists set higher prices that generate maximum gains. However, a firm may differentiate prices for various buyers in diverse regions. The price differentiation approach depends on the elasticity of demand. Dumping is also a pricing strategy used by monopolists (Rubin Dnes, 2010). In this regard, products fetch higher prices at the domestic market than in the international platform. However, monopolists do not just escalate prices. In other words, the optimal price is influenced by demand (Ellickson et al., 2012). Case Study with examples In the last few years, intense competition has been witnessed among telecommunication companies that supply cables, satellites and other communication services. Broadcasting networks have also exercised perfect competition for several decades. Internet service providers and social media platforms such as Facebook, Twitter, Instagram and Google plus have thrived in perfect competition (Samuelson Marks, 2006). This has greatly encouraged other service providers to venture into the market.  Besides, firms that produce and sell foodstuffs such as fast food restaurants and supermarket outlets exercise monopolistic competition. These sellers produce diverse brands that appeal to the larger market niche (Samuelson Marks, 2006). The deregulation of products’ varieties and discounts gives clients the freedom to purchase goods or services that they can afford.  In the United States, there are limited number of organizations that offer similar services and products. For instance, the Airbus and Boeing companies are renowned aircraft companies tha t compete against each other (Samuelson Marks, 2006). There are also hybrid automobiles that compete with traditional gasoline-powered automobiles. World-renowned soft drink companies such as Coca Cola and Pespi compete through pricing strategies thereby making the market to be oligopolistic in nature (Samuelson Marks, 2006). Some countries such as the US and India give firms and business people exclusive rights to sell their inventions for a specified period. Therefore, some firms have patents that grant them authority to sell their products for a period of 10 years (Samuelson Marks, 2006). This prevents other people from copying, processing or applying such ideas. A good example is the Microsoft Company that deals with computer software. It spearheads monopoly by preventing the entry of other compute software companies into the market (Samuelson Marks, 2006). Governments have been known to allow lawful monopolies for a given length of time. Conclusion From the above discussion , it is explicit that a market environment influences pricing strategies. There are four major market structures. These market structures have diverse attributes such as the degree of barrier to market access, the extent to which a firm controls the price, and the number of sellers. In monopolistic and perfect competition, there are numerous sellers hence there is no entry barrier into the market. Therefore, producers set prices that are influenced by elasticity of demand. In oligopoly, there are a few sellers competing against each other and prices are determined by other economic factors apart from demand and supply. There are significant but less prohibitive market barriers and price rigidity in oligopolistic markets. Contrastingly, a monopoly has a single firm supplying and determining the price of products in a market. There are numerous barriers that prevent other potential sellers from entering a monopolistic market. References Ellickson, P. B., Misra, S., Nair, H. S. (2012) . Repositioning Dynamics and Pricing Strategy. Journal of Marketing Research (JMR), 49(6), 750-772. Rubin, P. H., Dnes, A. W. (2010). Managerial economics: a forward looking assessment. Managerial Decision Economics, 31(8), 497-501. Samuelson, W., Marks, S. G. (2006). Managerial economics. Boston: John Wiley Sons, Inc. This research paper on Market Structures and Pricing Strategies was written and submitted by user Jordan L. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.