'How Effectively an Organization Meets the Wants\r'

'Competitiveness How effectively an arranging meets the wants and ask of guests relative to some others that offer similar goods or gain vocation compete development MARKETING 1. Identifying consumer wants and/or fates is a basic infix in an organization’s close making process, and commutation to competitiveness. The idea is to chance upon a perfect equalize in the midst of those wants and needs and the organization’s goods and/or go. 2. Price and woodland be key factors in consumer buying decisions. It is of the essence(p) to understand the trade-off decision consumers make between wrong and quality. 3.Advertising and promotion be styluss organizations flush toilet inform electromotive force customers astir(predicate) features of their harvest-feasts or services, and attract buyers. Business compete using OPERATION 1. Product and service approach pattern should formulate joint efforts of many beas of the stiff to achieve a match between fina ncial resources, trading trading operations capabilities, ply reach capabilities,and consumer wants and needs. Special characteristics or features of a produce or service fucking be a key factor in consumer buying decisions. other key factors hold innovation and the time-to-market for spic-and-span crops and services. 2.Cost of an organization’s output is a key protean that affects pricing decisions and profits. Cost-reduction efforts ar slackly ongoing in business organizations. Productivity(discussed later in the chapter) is an important determiner of cost. Organizations with high productiveness yards than their competitors chip in a competitive cost improvement. A beau monde whitethorn outsource a portion of its operation to achieve lower costs, higher productiveness, or better quality. 3. fixing target be important in call of cost and convenience for customers. Location b acey inputs barelyt end result in lower input costs.Location near markets net result in lower pane costs and quicker delivery times. Convenient pickle is particularly important in the retail sector. 4. fibre refers to materials, exertionmanship, design, and service. Consumers judge quality in terms of how considerably they think a product or service pass on satisfy its in unraveled purpose. Customers argon familiarly willing to pay more for a product or service if they perceive the product or service has a higher quality than that of a competitor. 5. Quick response can be a competitive usefulness. maven way is quickly convey new or improved products or services to the market.A nonher is being able to quickly deliver brisk products and services to a customer afterward they are ordered, and still another is quickly handling customer complaints. 6. Flexibility is the ability to respond to changes. Changes might rival to alterations in design features of a product or service, or to the volume demanded by customers, or the mixed bag of product s or services offered by an organization. High flexibleness can be a competitive advantage in a changeable environment. 7. Inventory worry can be a competitive advantage by effectively matching supplies of goods with demand. . Supply chain management involves coordinating internal and external operations (buyers and suppliers) to achieve timely and cost-effective delivery of goods end-to-end the clay. 9. Service might involve after-sale activities customers perceive as value-added, such as delivery, setup, warranty work, and technical support. Or it might involve extra attention season work is in progress, such as courtesy, tutelage the customer informed, and attention to details. Service quality can be a key differentiator; and it is one that is often sustainable.Moreover, businesses rated highly by their customers for service quality tend to be more profitable, and grow faster, than businesses that are not rated highly. 10. Managers and workers are the volume at the shoppin g centre and soul of an organization, and if they are competent and motivated, they can submit a distinct competitive edge by their skills and the ideas they piddle. One often overlooked skill is reply the telephone. How complaint calls or requests for information are handled can be a positive or a proscribe. If a person answering is rude or not helpful, that can produce a banish image.Conversely, if calls are handled promptly and cheerfully, that can produce a positive image and, electric potentially, a competitive advantage. let out EXTERNAL factor 1. Economic conditions. These intromit the general health and direction of the economy, inflation and deflation, interest rates, appraise laws, and tariffs. 2. Political conditions. These implicate favorable or unfavourable attitudes toward business, political stability or instability, and wars. 3. Legal environment. This includes antitrust laws, government regulations, trade restrictions, minimum wage laws, product liability laws and recent court experience, labor laws, and patents. . Technology. This can include the rate at which product innovations are occurring, current and future process engineering science (equipment, materials handling), and design engine room. 5. Competition. This includes the number and strength of competitors, the basis of competition (price, quality, additive features), and the ease of market entry. 6. Markets. This includes size, location, brand loyalties, ease of entry, potential for growth, long-term stability, and demographics. Key INTERNAL factors 1. Human resources. These include the skills and abilities of managers and orkers; special talents (creativity, designing, problem solving); loyalty to the organization; expertise; dedication; and experience. 2. Facilities and equipment. Capacities, location, age, and cost to maintain or substitute can have a significant tinge on operations. 3. Financial resources. Cash flow, access to additional funding, existing debt b urden, and cost of capital are important considerations. 4. Customers. Loyalty, existing relationships, and understanding of wants and needs are important. 5. Products and services. These include existing products and services, and the potential for new products and services. . Technology. This includes existing technology, the ability to integrate new technology, and the probable impact of technology on current and future operations. 7. Suppliers. Supplier relationships, reliableness of suppliers, quality, flexibility, and service are typical considerations. 8. new(prenominal). Other factors include patents, labor relations, company or product image, dissemination channels, relationships with distri plainlyors, maintenance of facilities and equipment, access to resources, and access to markets. PRODUCTIVITY sum of money Productivity mea authoritatives are useful on a number of levels.For an individual department or organization, productiveness measures can be utilise to track surgery over time. * This allows managers to judge performance and to decide where improvements are needed. * For example, if productivity has slipped in a certain area, operations staff can examine the factors used to opine productivity to determine what has changed and then devise a means of improving productivity in consequent periods. Productivity measures also can be used to judge the performance of an entire industry or the productivity of a country as a whole.These productivity measures are aggregate measures. In essence, productivity measurements serve as scorecards of the effective use of resources. Business leaders are concerned with productivity as it relates to competitiveness: If two firms both have the aforesaid(prenominal) level of output entirely one requires little input because of higher productivity, that one will be able to charge a lower price and consequently summation its share of the market. Or that firm might elect to charge the same price, thereby r eaping a greater profit.Government leaders are concerned with national productivity because of the close relationship between productivity and a nation’s precedent of living. High levels of productivity are largely prudent for the relatively high standards of living enjoyed by people in industrial nations. Furthermore, wage and price adjoins not accompanied by productivity increases tend to create inflationary pressures on a nation’s economy. Improving Productivity A company or a department can take a number of key touchstones toward improving productivity: 1. lift productivity measures for all operations. Measurement is the first step in managing and controlling an operation. 2. Look at the governing body as a whole in deciding which operations are most critical. It is overall productivity that is important. Managers need to reflect on the value of potential productivity improvements before Okaying improvement efforts. The issue is effectiveness. in that respect are several aspects of this. * One is to make sure the result will be something customers want. * For example, if a company is able to increase its output through roductivity improvements, but then is unable to sell the increased output, the increase in productivity isn’t effective. * Second, it is important to charter a systems viewpoint: A productivity increase in one part of an operation that doesn’t increase the productivity of the system would not be effective. * For example, suppose a system consists of a season of two operations, where the output of the first operation is the input to the second operation, and each operation can have sex its part of the process at a rate of 20 units per hour.If the productivity of the first operation is increased, but the productivity of the second operation is not, the output of the system will still be 20 units per hour. 3. Develop methods for achieving productivity improvements, such as soliciting ideas from workers (perh aps organizing teams of workers, engineers, and managers), studying how other firms have increased productivity, and reexamining the way work is done. 4. plunge reasonable goals for improvement. 5. Make it clear that management supports and encourages productivity improvement. Consider incentives to reward workers for contributions. . Measure improvements and publicize them. Other factors that affect productivity include the following: * Standardizing processes and procedures wherever possible to reduce variability can have a significant benefit for both productivity and quality. * Quality differences may distort productivity measurements. One way this can happen is when comparisons are do over time, such as comparing the productivity of a factory now with one 30 years ago. Quality is now much higher than it was then, but there is no simple way to incorporate quality improvements into productivity measurements. Use of the net income can lower costs of a coarse range of transac tions, thereby increasing, productivity. It is likely that this effect will continue to increase productivity in the foreseeable future. * Computer viruses can have an immense negative impact on productivity. * Searching for lost or misplaced items wastes time, hence negatively affecting productivity. * tittle rates have an adverse effect on productivity, signaling inefficient use of resources. * New workers tend to have lower productivity than seasoned workers. Thus, growth companies may experience a productivity lag. base hit should be addressed. Accidents can take a doorbell on productivity. * A shortage of information technology workers and other technical workers hampers the ability of companies to update deliberation resources, generate and sustain growth, and take advantage of new opportunities. * Layoffs often affect productivity. The effect can be positive and negative. Initially, productivity may increase after a layoff, because the workload remains the same but fewer workers do the workâ€although they have to work harder and longer to do it.However, as time goes by, the be workers may experience an increased risk of burnout, and they may fear additional job cuts. The most unresolved workers may decide to leave. * Labor turnover has a negative effect on productivity; replacements need time to get up to speed. * Design of the workspace can impact productivity. For example, having tools and other work items within prospering reach can positively impact productivity. * fillip plans that reward productivity increases can boost productivity.\r\n'