A hypothetical disaster scenario Essay Example | Topics and Well Written Essays - 1000 words

A speculative debacle situation - Essay Example Be that as it may, there is no distinction between this seismic tremor and the California quake. Information should be gathered on the augmentation of the impacts of the seismic tremor. The seismic tremor may have activated different quakes or even tidal waves. Realities send that the crustal plates that make the surface out of the planet are seen moving constantly. They are distinguished moving at a rate that is equivalent to the advancement of fingernails. They are should be moving endlessly from one another. This at that point prompts the overflowing of the magma up which frames another outside layer. Along these lines, they may slide past one another or even towards one another which makes the present outside layer to be destructed. The primary concern that may make them remain together therefore compelling a distortion when they proceed with their development is through grating. The issues are exposed to breakage where seismic waves are when grinding is by distortion. Be that as it may, the disparate limits may happen at the mid-sea edges or even in the fracture zones. This is the place the new outside layer whenever shaped. These locales are exposed to seismic tremors of which they are not that unsafe in the part since they have all the earmarks of being little and happen to be far away from individuals. During when the plates are moving separated, the change limits are the movement of strike oversight of the San Andreas Fault. The seismic tremors occurring in these areas happen to be shallow and consequently they produce moderate size quakes. The focalized limits happen when there is an impact of the plates. In the event that the plates are both mainland plates, immense mountain ranges made by the outside that disintegrates out during the time spent development simply like the Himalayas. In the event that the development happens to be in the middle of the mainland and the sea, the maritime plate which is of high thickness, is sub ducted in the skimming mainland plate which happens to be of low thickness. The districts where subduction happens are continually startling in this manner they happen rarely in that local people

Analysis of THE WIRE-Episode 3 Essay Example | Topics and Well Written Essays - 1000 words

Examination of THE WIRE-Episode 3 - Essay Example With Pryzbylewski and Colvin and different characters the story has a more profound effect on the brains of crowd. For Pryzbylewski, it is heard to show understudies in a domain which is tainted by drugs and unscrupulous qualities and practices. The scene is a fine blend of various themes and occasions that rotates around various subjects and characters. The scene covers the most dubious subject that how individuals assume a compelling job in running the governmental issues. It begins from the scene when the Mayor Clarence Royce meets with the police magistrate Ervin Burrell to unveil his sentiment on the fierce killing of a homicide witness. In any case, his disappointment caused him a more prominent impediment over his rival Tommy Carcetti that picked up him a reasonable qualification in votes over Royce. Then again, Burrell guarantees the city hall leader that examinations will be made so as to discover the genuine case behind the fierce homicide of the observer. Royce anticipates how he can prevail upon a total triumph Carcetti. He realizes how to play his filthy political cards properly against Carcetti. He arranges Parker to demotivate Carcetti’s supporters and simultaneously, he asks Burrell and Demper to sort out a question and answer session and assume all the fault of this particular homicide on their shoulders; leaving him as an honest Mayor who has been kept clueless of all the circumstance and the gravity of the circumstance. His grimy considerations begin stressing Demper who is a lot of cognizant about his own notoriety in the re-appointment crusade yet Royce compromises him and his profession. Watkins quietly watches the whole circumstance and faults Royce for his activities. Prior, he has proposed an observer security plan and sets out the designs for its financing yet Royce needed to ensure that assets for the plan should coordinate his own spending plan. Therefore, the Royce neglected to ensure life security to the observer and is presently confronting all the harsh resistance

Johann Friedrich Struensee Biography

Johann Friedrich Struensee Biography In spite of the fact that he was a significant figure in Danish history, German doctor Johann Friedrich Struensee isn't especially notable in Germany. The period he lived in, the late eighteenth century, is known as the Age of Enlightenment. New ways of thinking were presented and progressive thoughts advanced toward courts, Kings,â and Queens. A portion of the strategies of European rulers were intensely instituted by any semblance of Voltaire, Hume, Rousseau or Kant. Conceived and educated in Halle, Struensee before long moved near Hamburg. He examined medication and, much the same as his granddad, he was to become individual doctor to the Danish King, Christian VII. His dad Adam was a high-positioning minister, in this manner Struensee originated from a strict home. After he had just completed his college vocation at twenty years old, he decided to turn into a specialist for the poor in Altona (today a fourth of Hamburg, Altona used to be a Danish city from 1664-1863). A portion of his counterparts reprimanded him for utilizing new techniques in medication and his somewhat current perspectives, as Struensee was a solid supporter of many edified logicians and scholars. As Struensee had just been in contact with the imperial Danish court, he was picked as the individual doctor for King Christian VII while the last gone through Europe. All through their excursion, the two men turned out to be dear companions. The King, in a long queue of Danish Kings with extreme mental issues, known for his wild tricks regardless of his young spouse, Queen Caroline Mathilde, sister of the English King George III. The nation was pretty much controlled by a gathering of privileged people, which made the King sign each new law or guideline. At the point when the movement party came back to Copenhagen in 1769, Johann Friedrich Struensee went along with them and was designated the perpetual individual doctor to the King, who’s ventures bamboozled him once more.â â Similarly as in any great film, Struensee became more acquainted with the Queen Caroline Mathilde and they experienced passionate feelings for. As he spared the crown prince’s life, the German specialist and the illustrious family turned out to be extremely close. Struensee figured out how to revive the King’s enthusiasm for legislative issues and began impacting him with his edified perspectives. Directly from the beginning of his association with the King’s undertakings, numerous individuals from the illustrious board viewed Johann Friedrich with doubt. In any case, he turned out to be increasingly compelling and soon the Christian selected him to the illustrious committee. As the King’s mind floated away to an ever increasing extent, Struensee’s power expanded. Before long he gave Christian various laws and enactment that changed the essence of Denmark. The King energetically marked them. While giving numerous changes that should better the circumstance of the laborers, in addition to other things making Denmark the primary nation to nullify serfdom, Struensee figured out how to debilitate the illustrious council’s power. In June 1771, Christian named Johann Friedrich Struensee Secret Cabinet Minister and gave him the general influence of lawyer, accepted creation him the total leader of the Danish Kingdom. Be that as it may, though he built up a staggering proficiency in giving new enactment and appreciated an amicable love existence with the Queen, foreboding shadows began to tower not too far off. His traditionalist restriction to the essentially weak imperial board went to interest. They utilized the fairly new innovation of printing to ruin Struensee and Caroline Mathilde. They spread flyers all over Copenhagen, working up the individuals against the hazy German doctor and the English Queen. Struensee didn’t truly focus on these strategies, he was e xcessively occupied, fundamentally changing the nation. Indeed, the rate at which he gave new laws was so high he even restricted those forces at the court that weren’t really contradicted to a significant number of the progressions he made. However, to them, the progressions came excessively quick and went excessively far. At long last, Struensee turned out to be so associated with his work, that he didn’t see his defeat coming. In a shroud and-knife activity, the resistance made the now practically doltish King sign a capture warrant for Struensee, checking him a double crosser for associating with the Queen †a wrongdoing deserving of death †and further charges. In April 1772, Johann Friedrich Struensee was executed, while Caroline Mathilde was separated from Christian and in the long run restricted from Denmark. After his passing, the greater part of the progressions Struensee had made to Danish enactment were undone.​ The sensational story of the German specialist who governed Denmark and †for a brief timeframe †made it one of the most developed nations at that point, who became hopelessly enamored with the Queen and wound up being executed, has been the subject of numerous books and films, despite the fact that not the same number of as you would might suspect.

Does Haig deserve the title The Butcher of the Somme Essay Example

Does Haig merit the title The Butcher of the Somme Essay Example Does Haig merit the title The Butcher of the Somme Paper Does Haig merit the title The Butcher of the Somme Paper Paper Topic: History In this paper, I will attempt to make sense of what antiquarians everywhere throughout the world have been discussing for a considerable length of time: Does Sir Douglas William Haig merit the title The Butcher of the Somme? I will begin by effectively characterizing the term, butcher, before investigating the body of evidence for and against this announcement. I will at long last finish up my article by weighing up the two cases and contrasting the meanings of butcher with his activities. To state that Haig was the legend of the triumph at the Somme, despite the fact that the assessment of the individuals of the time, should now be thought back on with extraordinary wariness. You can't deny that Haig settled on the right strategic choice to make a hostile at the Somme, so as to take the weight of Verdun, and it is consistent with state that he accomplished his objective target in doing as such. In any case, it is unpardonable, whatever the addition, to discard life so recklessly as Haig did. It is additionally to be noticed, that Haigs disposition after the Somme, was that it was a commendable penance, and a decent route for a man to kick the bucket. As such, he didnt care about the loses, as long as he got the applause toward the finish, all things considered, Clearly to advise the men to stroll over no-keeps an eye ashore should be taken a gander at as a definitive reason for the butcher of the Somme. It was Haig who provided the request to walk and planned the technique for the hostile. His arrangement was imperfect. Initially he didnt think about all prospects, the main result that he had arranged and suited for was that everything worked out as expected. This was plainly not the situation as he didnt consider that the Explosions under the German line were all going to be synchronized, or that the Germans may make due in their burrows. Additionally, and considerably progressively awful, he didnt have an arrangement B. This means, recommending that not all things go well, and state the Germans survived in their burrows, he didnt have any elective intend to return to, he simply kept on with the equivalent terrible system, and deciding by the way that he proceeded with a similar arrangement for 2 months, it appears to be far-fetched that h e had an arrangement B for any result, which implies that he was depending on everything working out as expected an extremely awful strategic choice. Haig could have effortlessly changed his arrangements when he understood they werent having any effect and he was discarding lives, for instance (and this is my arrangement): Began the barrage again and this time stumbled into, the spiked metal was an issue yet the Irish traversed the first run through when they ran, so it was unquestionably conceivable. And furthermore, the entire goal of the Somme was to ease the heat off Verdun, so once the Germans had hauled a large portion of their military up to manage the Somme, the British had no compelling reason to assault them, they could simply sit and pause, the Germans werent going anyplace in light of the fact that they realized that they would be powerless and could be assaulted whenever with all the British fighters simply pausing, the exact opposite thing the Germans would do was simply leave and return to Verdun, and in the event that they did, (which would be insane) at that point the hostile could start, and assault the debilitat ed lines. Be that as it may, these plans were clearly made when thinking back on the fight, Haig wouldnt have had the advantage of knowing the past. In spite of the fact that, he is to be faulted for not changing his strategies when the first day had been such a disappointment. When something you attempt plainly doesnt work, why continue doing it at the expense of lives? All things considered, the main explanation that Haig provided the request to walk was on the grounds that he was under the bogus impression that all the Germans had been murdered in the assault and the men would walk straight through the channels to Berlin. It is consequently that the men were conveying 30 pounds of pack on their shoulders, and were informed that they were strolling towards void channels. In any case, when this plainly wasnt the case, and clearly they were not strolling towards void channels, why continue strolling if the main explanation behind doing so is presently void? Haigs mindset is additionally to be addressed, as his mentality towards human life is essentially stunning. His assaulting activity thoughts where men are just tossed over the top on small attacking gatherings of 10 or 15 individuals, were franticness. Each gathering kicked the bucket and was simply one more objective for the Germans to destroy. They had definitely no expectation of succeeding and he knew it. He was simply discarding lives when he realized all who went over the top would bite the dust. This might possibly have made an assaulting soul, yet what great is an assaulting soul when the men are sent over the top to bite the dust? I cannot perceive how the passings of their companions might make an assaulting soul, the main thing it would make was the feeling that there General was a finished insane person. There is no utilization in raising the spirit of troops who are going to bite the dust in any case, and doubtlessly triumphs would make a superior assurance help for the men than steady setbacks. Envision this: You are a moderately aged woman in England and you are pleased to state to every one of your companions that your better half has gone to battle for his nation. You are then educated that he has been slaughtered in real life. After the war, you discover that he was murdered in an attacking gathering, all to raise the confidence marginally of men on the bleeding edge. You think to yourselfoh, wont they be upbeat! Im sure his life was a commendable penance and different men had cheerful dispositions for the following week, to realize that another 15 individuals had been sent over the top and passed on. Haig stated, the day preceding the hostile: The men are in unbelievable spirits. A few have said that they have at no other time seen so educated and educated regarding the idea of the activity before them. The security fencing has never been so very much cut, nor the ordnance readiness so intensive. All the officers are loaded with certainty. This announcement in itself recounts to the story. Haig was either miss-educated or preposterous, and regardless of the way that the wire was obviously not cut, he sent the men out in any case.

Major Strategy Frameworks

Major Strategy Frameworks WHAT IS  VALUE CHAINThe Value Chain is easily identifiable in the production industry, where a company takes raw material and turns it into a useable product that it sells to customers. It is more difficult to recognize the value chain in other industries. Nevertheless, companies in any industry that wish to find ways to optimize their processes while creating an advantage in the marketplace must study the Value Chain. The Value Chain is used to find potential competitive advantages.The goal of the strategy is to identify the most valuable activities to the company and take action on the activities which can be improved upon to add competitive advantage. There are two advantages within the value chain: differentiation and cost. A differentiation advantage indicates that a company performs the activities of the business better than the competitors. A cost advantage demonstrates that the company performs business activities for a lower cost, leading to greater profits.There is a direct relationship: the higher the competitive advantage, the more likely people are to purchase the product or service. Further, the more they buy increases the likelihood of them continuing to purchase from the company. A close scrutiny of a company’s processes can lead to superior products, higher profits and a greater market share through the use of the value chain.An Introduction To Value Chains[slideshare id=8698270doc=valuechainsintro140711-110726211033-phpapp02]WHEN IS THE VALUE CHAIN STRATEGY USEFUL?The value chain is useful for any industry that sells products or services to consumers. For the company that wishes to remain competitive in the new global economy, a value chain analysis should be considered mandatory. It can be beneficial to any company that wants to identify areas to reduce costs while adding value or for the company that is seeking to distinguish itself from a sea of competitors. The process of evaluating a value chain can be lengthy. This can be discouraging to a business owner who wants to ‘fix’ whatever is wrong, or who is looking to maximize profits. However, the process will be worth the additional time it requires.COMPONENTS OF THE VALUE CHAIN STRATEGYThere are  two main components of the value chain: primary activities and support activities. Within the two categories are additional processes that help to narrow down the specific areas within a company that adds value.Primary Activities within Value ChainThe primary value activities are directly tied to the creation, sale, support and maintenance of the product or service. These primary activities will vary depending on the industry or business, but a general look at each one can identify areas that any company encompasses. Primary value activities add value directly to the product.Inbound Logistics:  The Inbound Logistics component focuses on all of the methods used to bring raw materials, or company inputs, into the business. This can include retrieving, storing and distribu ting material internally.Operations:  As the raw material makes it way though the company, Operations adds value by transforming the material into a useable product. This is the stage of the value chain that produces a product for customers.Outbound Logistics:  Once the product has been completed, the process of moving it from the company to the consumers is called Outbound Logistics. Collecting, storing and distributing products, as well as preparing the company for additional growth is part of this stage of the value chain.Marketing and Sales:  The methods used to convince consumers to purchase products or services over another’s business are called  marketing  and sales. Value can be found by the addition of benefits and the success of communicating those benefits to customers.Service:  After the completion of a sale, the Service component in a value chain considers the value in maintaining their product.Support Activities within Value ChainIn addition to the primary value acti vities, the value chain also considers support activities. Support activities are the behind the scenes aspect of a company that indirectly add value to products or services. There are four major components within support activities.Firm Infrastructure:  This includes the control systems, culture of the company and the overall structure of the organization. Within this component are the company’s accounting systems, administrative organization and other structures that allow the company to operate.Human Resource Management:  Concerned with the human element of the corporation, this section of the value chain accounts for employee interactions. It encompasses hiring, firing, training and compensation, and is one of the largest components in the value chain.Technology Development:  An important feature of the value chain, the technology development component regulates technology costs, managing information and maintaining current technology standards.Procurement:  This component stu dies how the company acquires the needed resources to operate. It includes vendor and supplier negotiations.CREATING THE VALUE CHAIN STRATEGYTo create a value chain strategy, it requires careful analysis of the activities that the company engages in to generate revenue. This analysis should be a step-by-step look at the processes that are used during the course of business and will include not only the primary value activities but the support activities as well.The process of conducting a value chain audit can be performed by a top-level manager, department head or other high-level executive who is looking to increase profits. In addition, it can be handled by a team or advisory committee. Generally speaking, having several people who would be willing to participate in the exercises will provide a more comprehensive look at the company and the opportunities to strategically improve. Once the decision of who will participate in the exercises has been made, the process can begin.It ca n be helpful to ‘follow’ a product from the moment the raw materials enter the process until they are purchased by a consumer. Along the way, note the areas where the process can be improved or value can be added. Be sure to include how staffing is recruited and compensated, the use of technologies and customer feedback. It can be helpful to list the items on a chart paper or spreadsheet.For the listed activities, generate a list of value factors. Value factors are developed from the customer point of view and identify what a customer would consider important. Next to the value factors, detail the methods the company can use to improve in each area. These action steps â€" the Value Analysis â€" can be used to formulate a strategy for improving company profits.USING THE VALUE CHAIN STRATEGYThe Value Chain is a worthless exercise if it is not followed by an  analysis and planning of action steps. Depending on the type of advantage the company desires to focus on, the resulting ana lysis and action plan will have different strategies.Differentiation StrategyThe advantage of a differentiation strategy is found in the production of better products, availability of more features and meeting customer demands. To accomplish this advantage, it may require a higher cost structure, but can ultimately pay off in higher profits if managed correctly. To create an action plan based on differentiation, the Value Chain Analysis is completed with a slightly different approach. The Value Chain Analysis should focus primarily on identifying and optimizing the activities in the process chain that create the most customer value. In addition, the company should focus on adding additional features to their products, while maximizing the customer service experience and increase the potential for customization. The ultimate goal of the value chain strategy for the company desiring differentiation is to generate opportunities for sustainable differentiation.Cost StrategyA company tha t wishes to compete in the marketplace on cost must evaluate the value chain data from a different perspective.An exhaustive study of the primary and support activities of the company must be done â€" detailing how the work is completed at each step of the process.Attached to each part of the process must be the cost of the activity. This allows for inefficiently performed activities or large sources of cost to be recognized and evaluated.Evaluation of the cost drivers must be performed for each step of the process as well. Determining what drives the costs allows the company to develop ways of reducing costs at each stage of the production.Identification of the connections between the parts of the process can assist the company in the understanding of how cost changes in one part of the process may affect a different part.Reduction of cost through the identified areas will generate opportunity for a successful value chain.After completing a  Value Chain Analysis, it can be tempting (and overwhelming) to consider the dozens of areas that can improve value as imperative. Select several easy-to-implement opportunities and put them into motion immediately. This creates excitement and buy-in by the employees who will be enthused with the quick amount of success that can be had. Screen the list of action steps and prioritize them according to feasibility, cost of implementing and necessity. Begin to implement changes according to the strategy type desired. As the marketplace changes, additional evaluation of the value chain may be necessary to maintain a competitive edge.EXAMPLE OF VALUE CHAIN STRATEGY: STARBUCKS As a company strives to create strategies that will increase revenue, they study the processes that affect their production. Deciphering the ways that a company adds value â€" transforming business inputs into outputs by optimizing the value chain is a fundamental strategy to increase profits. One method used by companies is the Porters Generic Value Chain. Knowing how a company can optimize the processes within its value chain, as well as understanding how to increase the efficiency of the production process overall is essential in developing a competitive strategy. © pixabay | PublicDomainPicturesIn this article we look at 1) what is Value Chain, 2) when is the  Value Chain strategy useful, 3) components of  Value Chain strategy, 4) creating the  Value Chain strategy, 5) using  Value Chain strategy, and 6) example of  Value Chain strategy: Starbucks.WHAT IS  VALUE CHAINThe Value Chain is easily identifiable in the production industry, where a company takes raw material and turns it into a useable product that it sells to customers. It is more difficult to recognize the value chain in other industries. Nevertheless, companies in any industry that wish to find ways to optimize their processes while creating an advantage in the marketplace must study the Value Chain. The Value Chain is used to find potential competitive advantages.The goal of the strategy is to identify the most valuable activities to the company and take action on the activities which can be improved upon to add competitive advantage. There are two advantages within the value ch ain: differentiation and cost. A differentiation advantage indicates that a company performs the activities of the business better than the competitors. A cost advantage demonstrates that the company performs business activities for a lower cost, leading to greater profits.There is a direct relationship: the higher the competitive advantage, the more likely people are to purchase the product or service. Further, the more they buy increases the likelihood of them continuing to purchase from the company. A close scrutiny of a company’s processes can lead to superior products, higher profits and a greater market share through the use of the value chain.An Introduction To Value Chains[slideshare id=8698270doc=valuechainsintro140711-110726211033-phpapp02]WHEN IS THE VALUE CHAIN STRATEGY USEFUL?The value chain is useful for any industry that sells products or services to consumers. For the company that wishes to remain competitive in the new global economy, a value chain analysis should be considered mandatory. It can be beneficial to any company that wants to identify areas to reduce costs while adding value or for the company that is seeking to distinguish itself from a sea of competitors. The process of evaluating a value chain can be lengthy. This can be discouraging to a business owner who wants to ‘fix’ whatever is wrong, or who is looking to maximize profits. However, the process will be worth the additional time it requires.COMPONENTS OF THE VALUE CHAIN STRATEGYThere are  two main components of the value chain: primary activities and support activities. Within the two categories are additional processes that help to narrow down the specific areas within a company that adds value.Primary Activities within Value ChainThe primary value activities are directly tied to the creation, sale, support and maintenance of the product or service. These primary activities will vary depending on the industry or business, but a general look at each one can identify ar eas that any company encompasses. Primary value activities add value directly to the product.Inbound Logistics:  The Inbound Logistics component focuses on all of the methods used to bring raw materials, or company inputs, into the business. This can include retrieving, storing and distributing material internally.Operations:  As the raw material makes it way though the company, Operations adds value by transforming the material into a useable product. This is the stage of the value chain that produces a product for customers.Outbound Logistics:  Once the product has been completed, the process of moving it from the company to the consumers is called Outbound Logistics. Collecting, storing and distributing products, as well as preparing the company for additional growth is part of this stage of the value chain.Marketing and Sales:  The methods used to convince consumers to purchase products or services over another’s business are called  marketing  and sales. Value can be found by the addition of benefits and the success of communicating those benefits to customers.Service:  After the completion of a sale, the Service component in a value chain considers the value in maintaining their product.Support Activities within Value ChainIn addition to the primary value activities, the value chain also considers support activities. Support activities are the behind the scenes aspect of a company that indirectly add value to products or services. There are four major components within support activities.Firm Infrastructure:  This includes the control systems, culture of the company and the overall structure of the organization. Within this component are the company’s accounting systems, administrative organization and other structures that allow the company to operate.Human Resource Management:  Concerned with the human element of the corporation, this section of the value chain accounts for employee interactions. It encompasses hiring, firing, training and compensa tion, and is one of the largest components in the value chain.Technology Development:  An important feature of the value chain, the technology development component regulates technology costs, managing information and maintaining current technology standards.Procurement:  This component studies how the company acquires the needed resources to operate. It includes vendor and supplier negotiations.CREATING THE VALUE CHAIN STRATEGYTo create a value chain strategy, it requires careful analysis of the activities that the company engages in to generate revenue. This analysis should be a step-by-step look at the processes that are used during the course of business and will include not only the primary value activities but the support activities as well.The process of conducting a value chain audit can be performed by a top-level manager, department head or other high-level executive who is looking to increase profits. In addition, it can be handled by a team or advisory committee. General ly speaking, having several people who would be willing to participate in the exercises will provide a more comprehensive look at the company and the opportunities to strategically improve. Once the decision of who will participate in the exercises has been made, the process can begin.It can be helpful to ‘follow’ a product from the moment the raw materials enter the process until they are purchased by a consumer. Along the way, note the areas where the process can be improved or value can be added. Be sure to include how staffing is recruited and compensated, the use of technologies and customer feedback. It can be helpful to list the items on a chart paper or spreadsheet.For the listed activities, generate a list of value factors. Value factors are developed from the customer point of view and identify what a customer would consider important. Next to the value factors, detail the methods the company can use to improve in each area. These action steps â€" the Value Analysis †" can be used to formulate a strategy for improving company profits.USING THE VALUE CHAIN STRATEGYThe Value Chain is a worthless exercise if it is not followed by an  analysis and planning of action steps. Depending on the type of advantage the company desires to focus on, the resulting analysis and action plan will have different strategies.Differentiation StrategyThe advantage of a differentiation strategy is found in the production of better products, availability of more features and meeting customer demands. To accomplish this advantage, it may require a higher cost structure, but can ultimately pay off in higher profits if managed correctly. To create an action plan based on differentiation, the Value Chain Analysis is completed with a slightly different approach. The Value Chain Analysis should focus primarily on identifying and optimizing the activities in the process chain that create the most customer value. In addition, the company should focus on adding additional featur es to their products, while maximizing the customer service experience and increase the potential for customization. The ultimate goal of the value chain strategy for the company desiring differentiation is to generate opportunities for sustainable differentiation.Cost StrategyA company that wishes to compete in the marketplace on cost must evaluate the value chain data from a different perspective.An exhaustive study of the primary and support activities of the company must be done â€" detailing how the work is completed at each step of the process.Attached to each part of the process must be the cost of the activity. This allows for inefficiently performed activities or large sources of cost to be recognized and evaluated.Evaluation of the cost drivers must be performed for each step of the process as well. Determining what drives the costs allows the company to develop ways of reducing costs at each stage of the production.Identification of the connections between the parts of th e process can assist the company in the understanding of how cost changes in one part of the process may affect a different part.Reduction of cost through the identified areas will generate opportunity for a successful value chain.After completing a  Value Chain Analysis, it can be tempting (and overwhelming) to consider the dozens of areas that can improve value as imperative. Select several easy-to-implement opportunities and put them into motion immediately. This creates excitement and buy-in by the employees who will be enthused with the quick amount of success that can be had. Screen the list of action steps and prioritize them according to feasibility, cost of implementing and necessity. Begin to implement changes according to the strategy type desired. As the marketplace changes, additional evaluation of the value chain may be necessary to maintain a competitive edge.EXAMPLE OF VALUE CHAIN STRATEGY: STARBUCKSUnderstanding the process of a value chain can provide a company wit h real-time information that can be used to generate increased revenue or gain an advantage over the competition and determine where profit-pitfalls may lurk within the corporate structure.As an example of a value chain strategy, consider the global coffee supplier, Starbucks.Primary ActivitiesInbound Logistics:  As Starbucks’ primary source of revenue, the inbound logistics of their coffee beans is imperative. This requires a high quality of beans, a steady supply chain and a continuous relationship with suppliers in the global market.Operations:  This aspect of Starbucks’ corporation is handled through direct operations and licensing agreements. The company is almost evenly split between the two, with nearly as many corporate stores as there are franchises. In addition, Starbucks offers its products in retail locations such as grocery and specialty stores.Outbound Logistics:  Distribution to the company and franchise stores, as well as the retail/grocery stores is the main foc us of the outbound logistics.Marketing and Sales:  With a strong and loyal customer base, Starbucks is able to maximize their marketing efforts through customer loyalty programs, member only incentives and other methods. In addition, they rely heavily on  word of mouth advertising  and product samples to generate additional sales.Service:  Customer service at Starbucks is considered to be the pinnacle of the coffee-buying experience. Employees are encouraged to go out of their way to provide exceptional customer service.Support ActivitiesInfrastructure: The infrastructure at Starbucks includes their accounting, legal support and other governmental regulations for establishing locations around the world.Human Resources:  Considered the largest and most valuable resource Starbucks has, their workforce is highly trained, well compensated and motivated through staff training, competitions and incentives.Technology Department:  The use of technology within the Starbucks Corporation is es sential to the daily operations of the company as well as the long-term effect on the day. Using the latest in technological advances to roast coffee, enhance the customer experience and maximize cost saving is paramount for the company.Procurement:  Ensuring a steady stream of coffee beans as well as other raw food materials for the local shops is essential to the success of the company. In addition, the development of additional locations, materials and equipment necessary to open those locations will be important. Finally, the development of the materials used in retail locations requires additional materials and supplies that must be obtained.A value chain is a thorough investigation into a company’s processes, and provides corporate officials the information and tools needed to remain competitive in a changing economy.Image credit:  pixabay | PublicDomainPictures under Public Domain Dedication. Major Strategy Frameworks Developed in the late 1950’s by Harry Markowitz, Modern Portfolio Theory was introduced as a means of managing an investor’s financial portfolio. According to Markowitz, an investment portfolio cannot be made up of assets (or investments) that are chosen individually. Before selecting companies to invest in, there needs to be a consideration of how the portfolio as a whole unit will change in price.As with any investment, there is an understood amount of risk involved. By its vary design, then, there is a direct correlation between risk and reward. Typically, investments that are riskier will bring a higher element of return. Portfolio Theory establishes two possible ways of handling risk and return: If the desired amount of risk is known, then the Portfolio Theory will guide the asset selection process to choose investments with a high level of expected return. If the desired expected return is known, the Portfolio Theory explains the steps in selecting investments that offer th e lowest risk.Similar to a financial investor, while investing in several assets an entrepreneur has usually to optimize his  portfolio of products / projects. Hence, Portfolio Theory can be applied in selection of products / projects with either higher returns given the level of risk or with lower risk given the level of return.Portfolio Theory, then, is a system of diversification. Using precise mathematical equations that determine risk and reward, along with a set of assumptions about investors and the financial markets, the Portfolio Theory provides a process of developing an optimal strategy for diversification. © Shutterstock.com | Syaheir AzizanIn this article, we will look at 1) what is Portfolio Theory, 2) when is the Portfolio Theory useful, 3) components of the Portfolio Theory, 4) creating the Portfolio Theory strategy, 5) using the Portfolio Theory strategy, 6) examples of Portfolio Theory strategy â€" General Electric.WHAT IS THE PORTFOLIO THEORY STRATEGYTo understand Portfolio Theory, it is helpful to consider an example: a company that has an oil refinery business. This oil company has several oil fields in its portfolio and tries now to select the oil fields with the highest return given the same level of risk. The returns for oil company are the revenues from oil projects devived from its volume of oil production, the oil price, operating costs to maintain the oil refinery, as well as the initial investment in the starting the oil refinery. On the other side, the risk for oil company contains in the ultimate volumes of oil reserves, the change in the oil price and operating cos ts, as well as unpredicted additional amount of investment for getting the oil field start producing oil. Using the principles of the Portfolio Theory, the company can let its portfolio  of oil refinery be diversified, but optimize it by comparing the oil projects based on return and risk profiles. In this example, oil company can for example define the level of risk, which it can handle and select then the oil fields with the highers returns given this level of risk. In doing so, the company can generate a diversified and optimized portfolio of oil projects. It has then minimized their risk, and maximized their return. © Wikimedia commons | ShuBraqueWhile the nuances of the Portfolio Theory are difficult to grasp, the basic ideas are clear: diversification and risk/return optimization leads to a stronger portfolio.WHEN IS THE PORTFOLIO THEORY STRATEGY USEFUL?Investors have used the Portfolio Theory strategy to compile an investment portfolio for years. As an investor, it is useful to diversify and to optimize investment holdings that will generate returns. The Portfolio Theory is beneficial to a company or an investor who wishes to have a deeper understanding of the risk and reward relationship. By looking closely at the amount of acceptable risk, an investor gets an idea of the type of investments they should select. Many investors consider themselves as ‘risk-takers’ but when confronted with actual data about the risk involved, prefer to take a safer, more traditional route. Other investors consider themselves as conservative but would be comfortable with a higher level of risk. Evaluating t he level of risk that can be tolerated gives an understanding of an investor’s risk tolerance.In corporate applications, the Portfolio Theory is useful to establish a strategy for increasing and optimizing a corporate portfolio. Again, it gives an indication of risk tolerance, but it also provides opportunity for discovering methods of diversifying a company’s holdings and offerings. Developing areas that can increase rewards, while balancing the risks is essential in stable companies.Finding the perfect balance of risk versus reward is the fundamental basis for the Portfolio Strategy â€" making it extremely useful for the company that wishes to minimize their risk.COMPONENTS OF THE PORTFOLIO THEORY STRATEGYThere are four main components in the Portfolio Theory: risk, return, efficient frontier, and diversification.RiskThe Portfolio Theory assumes that when given a portfolio of investments with equal returns, the investor will select the one with the lower level of risk. Accordi ng to the assumptions of the theory, an investor will only take on additional risk if there is an expected level of higher reward. The relationship between risk and return is affected by the number of assets in the portfolio.ReturnWith the framework of the Portfolio Theory, an investor who wants to generate a higher level of reward, or return, must be willing to have a higher level of risk. The implication, then, is that an investor will choose to invest in a portfolio that offers a lower level of risk with the highest level of return.DiversificationMarkowitz’s theory demonstrates that an investor who wishes to reduce risk can do so by establishing a diverse portfolio. Using mathematical principles and formulas, the return variance of the portfolio can be established. Simply put, the sum of the assets, over the square of the fraction of assets is multiplied by the asset’s return variance. When the assets are completely uncorrelated, the portfolio is diversified and the investor can experience a higher level of reward.Efficient FrontierAlso known as the Markowitz bullet, the Efficient Frontier is the graphical representation of the Portfolio Theory. By plotting the possible combinations of assets to risk, the risk-free area is clearly identified on a hyperbola graph. Moving along the risk-free rate line, an investor can begin to identify what level of risk is comfortable based on the expected level of return.CREATING THE PORTFOLIO THEORY STRATEGYThe basis for the Portfolio Theory is mathematical. A long, complex formula for investing is used to determine the risk/reward ratio and establish a diversified and optimized portfolio. Typical entrepreneur might not have the desire or know-how to establish a mathematical formula to determine investments in products and projects within her/his business, however, and the statistical data for the strategy is lost on many.Creating a true Portfolio Theory strategy for a company, then, requires the assistance of financia l planners and potentially fund managers who have access to tools and data streams to provide information. The concepts of the strategy, however, can be clearly understood and used by even the most novice investor or entrepreneur in her/his business.Investors can establish their portfolio two ways. Identifying the acceptable level of risk gives an idea of the expected level of returns. Conversely, identifying the desired returns will identify the amount of risk necessary. Applying diversification will spread the risk over a number of assets, lessening the individual risk but increasing the overall return.USING THE PORTFOLIO THEORY STRATEGYThe Portfolio Theory has a wide range of applications outside the world of finance. Modern users of the theory have applied it to scientific processes, charting the possible outcomes of experiments. It has been used to find relationships in the workplace with studies of variability and economic growth in the labor force. Social psychology has adapt ed the theory to develop a model of self-concept. According to psychologists, an individual’s self-esteem is stable when their self-concept is more diverse.The same principles can be applied in a business setting, where the fundamentals of Portfolio Theory can be applied to corporate strategy. For companies that have multiple divisions, offer a line of products or services, using the Portfolio Theory can lead to a more stable and consistent revenue stream. In addition, it can offer a company clearer vision of how to increase their market share, while minimizing risk.A company that wishes to increase their reward (or, put another way, to generate more revenue) can institute the Portfolio Theory. Adding a diversified set of assets will lessen the risk of diminishing returns. In the oil refinery company example used above, the company selected diversity of oil fields based on their risk/return profiles. It reduced the risk on the portfolio level (by selecting lower level risk oil fie lds), added diversity (by selecting several oil projects), and increased revenue (by selecting higher revenues for defined level of risk). Finding ways for adding diverse projects with optimized risk / return profile can help a company grow and profit.Finding ways to apply the Portfolio Theory to a business’ strategy will increase their stability within the marketplace. Looking at a company’s portfolio of products / projects overall will help drive decisions about adding or reducing the number of products / projects, in direct correlation to the amount of return desired. If one department or division is not performing well, it will not be as detrimental when other divisions can offset the deficit. The company can then make decisions regarding the addition of a new asset to replace the poorly performing section or to develop methods to increase that division’s revenues.EXAMPLES OF PORTFOLIO THEORY STRATEGY â€" GENERAL ELECTRICIt is helpful to evaluate the corporate application of the Portfolio Theory by examining a company that uses the strategy to determine their growth. One of the largest companies around, General Electric (GE) has a long history of diversification and product portfolio optimization. Within the last few years, however, they have streamlined their corporate structure into six main areas: banking, transportation, appliances and lighting, aviation, energy and health care. © General ElectricTo apply the Portfolio Theory, consider each industry as an asset. Limiting their assets to six, they have optimized their risk/reward formula. By selecting industries that operate independently of each other, they have a range of diversification without high elements of risk. The reward component of the formula can be seen in the potential for double-digit growth in earnings for 2014. With a focus on developing within the industries they have chosen, they are increasing their organic revenue in an environment that allows for low reward in one area balanced by the higher rewards in another.Over the last several years, the largest growth revenues have come through GE’s banking industries. The smallest revenues have been through their transportation division. Based on the Portfolio Theory, they can still achieve high levels of reward, due to the relationship between their risk factors. In an effort to further stabilize their revenues, GE has been putting their effo rts into bolstering their transportation division, while pulling back from their banking industry. As the recession has receded, demand for GE’s locomotive has increased with the recovering railway industry.By achieving industrial growth that is sustainable, GE has managed to remain a stable force in the marketplace. Examining the relationship between the different industries that GE offers, it is clear to see how the Portfolio Theory can be applied to a corporation with success. Considering the overall portfolio of GE shows a company that has a high level of revenue, with an overall low level of risk, making GE a strong investment opportunity.The Portfolio Theory as a strategy for business can demonstrate the elements of acceptable risk and reward helping companies to diversify and to optimize their portfolio of products and services, as well as to establish a strong market presence. While critics of the theory have held that the idea is based in an unreal world of perfect condit ions, the principles of the strategy have clearly worked. Variations of the Portfolio Theory have developed since its inception and it still continues to be a much-used method of investing and business planning today. By taking this investment strategy and applying it to other areas of business, the long heralded method is still as effective as it was over thirty years ago. Image credit:  Wikimedia commons | ShuBraque under Attribution-ShareAlike 3.0 Unported. Major Strategy Frameworks No matter the size of the company, it is essential to the growth and success of the business to periodically evaluate the direction it is moving. This process can be done in a variety of ways, but finding a method that is cost effective, reliable and useful often intimidates business executives. For the company that is new to the idea of strategic planning or who wants a simple, quick method of finding direction the SWOT strategy is ideal. Aptly named for its features, the SWOT is an analysis of the Strength, Weakness, Opportunity and Threats that a company experiences. © Shutterstock.com | TheGigerRangerIn this article, we will look at 1) what is SWOT, 2) when is SWOT useful, 3) components of SWOT, 4) creating SWOT, 5) using SWOT, and 6) example of SWOT.WHAT IS SWOTThe SWOT strategy focuses on two areas: internal factors and external factors. When considering the internal factors, the company must focus on the areas within the company that they can control. The internal inspection will be centered on the strengths and weaknesses of the business. Before starting any campaign to expand the company or trying to advance in the marketplace, it is vital to take inventory of the current company standing.Beginning with an investigation that looks inward, it is possible to establish a realistic picture of the state of the company. To begin, the business must evaluate the factors of the company that are strengths, or advantages in the marketplace. These items may include staffing, assets, position in the industry â€" any features that set the company apart from the competition in a positive way. In addition to the strengths of the company, a similar examination of the internal weaknesses of the business must be conducted. Weaknesses may be processes that aren’t fully functioning, limited use of technology, access to shipping lines â€" the hurdles that the company faces in order to do business.Conversely, a thorough understanding of the external factors that the company faces must also be established. This is done through the last two features of the SWOT: opportunities and threats. In a business environment, these items are aspects of business that a company cannot control. In many applications, external factors deal primarily with what is considered ‘the competition’, but for a successful SWOT analysis, it must include factors beyond that. Opportunities for the company include market awareness and growth, public perception and economic trends. Threats may be the most difficult to establish, but should be carefully considered. T hreats can include funding delays, opposition to new processes or products or timing issues.WHEN IS SWOT USEFULThe SWOT analysis can be beneficial to a company in a variety of scenarios. Most scenarios can be categorized into either developing new business or evaluating existing business. Companies that wish to develop a strategic plan for the expansion of their business would be well served by performing a SWOT analysis before engaging in action. The SWOT can be used when a company is beginning to implement an expansion into a new market area, when considering a new product line or when developing new policies. Evaluating the new venture in light of the existing company structure can provide guidance into the feasibility of adding new products or ideas.In addition, SWOT strategies can be implemented when considering a change in the focus of the company. The possibility of transitioning from a local market to a global scale, for example, could be evaluated using a SWOT analysis. Ano ther consideration for a SWOT analysis is when a taking on new business that could largely impact both productivity and scope of the company.For new businesses, using a SWOT analysis strategy can help guide the company through the early stages of development. Establishing a clear and definitive course of action will be beneficial as a company identity is being formed. By clarifying the unique aspects of the company, employees have a better understanding of the focus of the company and are better equipped to make the company successful.COMPONENTS OF SWOTThe four components of SWOT: strengths, weakness, opportunity, and threat must be individually evaluated. © Flickr | jean-louis ZimmermannInternal factors: StrengthsThe features of the company that are benefits and can be both tangible and intangible are the strengths of the business. These positive features are within the control of the company. Strengths may include: resources (both human and otherwise), advantages over competition, facilities and more. To determine strengths, a company may consider the following questions:What does the company do better than any other company in the industry?What are the advantages that the company has?What are the resources that the company has that others don’t have?What human resource advantages does the company have?What positive features does the company have that gives an edge over the competition?Internal factors: WeaknessesIt may seem counter-productive to focus on the negative internal aspects of a business, but to truly achieve success, the weaknesses must be addressed. Being realistic and honest provides a true picture of the company and prevents complications and issues later. Some of the areas to consider weaknesses will be discovered by using questions such as:What are the areas that the company can improve?What causes the company to lose business?What areas are lacking in the business?Are the resources available to the company limited?Does the location of the business hinder success?What continuous training efforts are in place for employees?Considering the external aspects of the SWOT are equally as important. These issues that are beyond the control of the company must be included in a strategic plan for success. Externally, there are Opportunities and Threats. By maximizing the opportunities and minimizing the threats, the successful company will be able to move beyond their current position in the marketplace.External factors: OpportunitiesThese positive features outside the company are reasons that the company will be successful. By taking advantage of the opportunities the company faces, the company can r each their potential for growth, expansion and success. Opportunities can be evaluated through discussion of some of these questions:What opportunity for growth exists in the current market?What legislation or funding opportunities have been created that can benefit the company?What timeline exists for these opportunities?How does the physical location of the company affect the future?What changes in demographics can increase sale opportunity?What changes in technology can the company take advantage of?External factors: ThreatsThese external factors put a company at risk. The threats to the business include competition, legislation, or other factors that are beyond the control of the company. While it is impossible to plan for every contingency, it is helpful to be aware of the threats and have an established plan in place for dealing with them.Who are the direct competitors in the industry?What changes can affect marketing strategies?What shifts in consumer habits could affect sale s?Are changing legislations putting the company at risk?Does new technology or products make current products or offerings obsolete?These questions are by no means an exhaustive list of items to consider in the creation of a strategic plan. By beginning an investigation of each component of the SWOT, it will help create a clear outline of direction.CREATING SWOTThe creation of a SWOT can be a short, simple process or it can be a more complex process that involves a wider range of people and time. The only limitation to the size and scope of the SWOT analysis is the intent and desire of the company developing the strategy.Creating a SWOT analysis can be completed by the head of a department, the CEO of the company, or the chairman of the strategic development committee. For maximum effectiveness, however, the analysis should be completed by a group of people from various segments of the company. By selecting people in different areas of the business, they will have different inputs i nto the positive and negative aspects of the company which will be essential in creating a true picture of the company. Additional insight can be gleaned from the inclusion of customers in the process. One reason the SWOT strategy is so effective is the simplified process for creation. A basic SWOT can be created during a staff meeting, a company retreat or spread out over the course of several weeks. Depending on the desired use of the SWOT, it can be helpful to schedule a planning session that will span several hours specifically to conduct the analysis.Establishing a casual, relaxed environment and inviting key people to the SWOT strategy session will help generate an opportunity for employees to collaborate while sharing their knowledge and insight for the betterment of the company.Appoint a discussion facilitator to move the group through the exercise. Progress, in order, through the S-W-O-T categories of the strategy. Ask for group feedback regarding each area, using the suppl ied questions, along with any others that may be relevant. Allow for discussion within each category, making notes of comments and ideas. Encourage answers that may be contrary to the overall perception of the company â€" a range of ideas and comments will provide the means for honest discussion about the business. Once the lists of each category have been compiled, identify the top 5 â€" 10 items in each section based on the group discussion. After the analysis has been completed, assemble the results into a chart that lists the results in an easy to see format. Distribute the results to the members of the group to allow for final consideration.SWOT Analysis: How To Perform One For Your Organization USING SWOTAfter completing the SWOT analysis, compiling the reports into useable results is the next step. The analysis identified and prioritized the biggest internal and external factors of the company. The SWOT analysis may have identified issues or problems that need to be addressed . It may have reaffirmed goals and strategies already in place. In addition, it brought attention to factors that can generate growth. In order to successfully use the SWOT, those factors must be turned into short and long term strategies.One of the primary benefits of the SWOT analysis is the ability to focus on maximizing strengths while minimizing weakness. This can be done through a careful consideration of the areas highlighted in the analysis. Look for ways to use the company strengths identified to capitalize on the opportunities assessed. In the same way, develop solutions to minimize the threats that are present by using the existing strengths of the company.By focusing on the positive aspects of the company, the negative factors can be minimized and negated while creating opportunity for growth. Use the list of opportunities developed to establish strategies that will reduce weaknesses. Further, focus on minimizing weakness to avoid potential threats in the marketplace.Gen eralities are the enemy of a successful SWOT strategy. Use only verifiable and precise claims when identifying strengths and weaknesses. Prioritize the list of factors, ensuring that the most important areas are dealt with first. Revisit the SWOT analysis and subsequent strategy plan frequently to ensure that the company direction is still in accordance with the expected strategies.EXAMPLE OF SWOTGenerating a SWOT for a famous company will give an idea of the potential uses for this type of strategic planning. Consider the possible SWOT analysis of IKEA, the retailer famous for home furnishings. The global company has taken Scandinavian style to the forefront of the furniture retailing industry and has utilized the SWOT philosophy to generate direction and planning.A potential SWOT analysis for IKEA may include the following features:StrengthsLow priced, functional products in a wide range of stylesVision for giving people a better lifeConsistent global quality and brandWeaknessesQu ality control in manufacturing countriesBalance between low costs and quality productsCommunication between consumers and shareholdersOpportunitiesIncreased market demand for environmentally conscious productsMarket increase for low carbon footprint corporationsEconomic downturn forcing consumers to consider lower cost productsThreatsMarket slowdown of first-time homebuyersCompetition entering the low price marketDisposable income shrinking due to economic downturnBy maximizing the opportunities for growth, IKEA can continue to dominate the home furnishings market. Fitting in with their vision to create a better life for people, they can focus on the environmentally conscious aspects of their company by using sustainable, renewable resources. Consistent use of their existing global network will help to reduce their carbon footprint through creative packaging and shipping.The use of the SWOT analysis and strategy can be an essential part of a company’s development. Critics claim th e limited scope of the process make it ineffective in truly determining future growth, but used as part of a larger strategic plan it can be a powerful tool. By using the plan to develop a framework for success, the company will be able to minimize weakness while maximizing the potential for the future. Image credit:  Flickr | jean-louis Zimmermann under Attribution 2.0 Generic. Major Strategy Frameworks Consider planning a trip that will require several nights’ stay in a hotel. There are three to choose from in the town: Hotel A has no amenities beyond the basics. A bed, a bathroom and a tiny pool in the back are all that is offered at the low cost accommodations. Hotel B is a pricey resort, loaded with options; has a free breakfast buffet, an on-site spa, several pools and a well-apportioned room with a view of a nature preserve. Hotel C is a smaller hotel that caters to business travelers in the state. They offer business services, studio rooms with full kitchen facilities, catered business dinners and late check-out options to allow for longer meetings. Travelers choose one of these three hotels based on their personal needs and preferences. Each hotel, however, is an example of a particular type of Generic Competitive Strategy that businesses use to set themselves apart from the competition.Hotel A is betting on the premise that cost is one of the primary decision making facto rs when choosing a hotel. They don’t offer fancy extras, but the rooms are clean and cheap. Hotel B draws clients who want to be pampered and who will wear the hotel’s monogrammed bathrobe proudly on their way down to breakfast. The rooms are expensive, but are larger than some of the homes people live in. Hotel C has narrowed their attention to the weary business traveler and has mastered the art, while maintaining prices that are middle of the road. © Shutterstock.com | Sira AnamwongIn this article, we look at 1) what is generic competitive strategy, 2) when is the generic competitive strategy useful, 3) components of the generic competitive strategy, 4) creating the generic competitive strategy, 5) using the generic competitive strategy, 6) examples of generic competitive strategy.WHAT IS GENERIC COMPETITIVE STRATEGYHarvard professor Michael Porter coined the phrase “generic competitive strategy” in his book, Competitive Advantage: Creating and Sustaining Superior Performance. Since the writing of his book, the phrase has become known in business circles as one of the primary methods of business planning and strategizing for businesses across all industries. The Generic Competitive Strategy (GCS) is a methodology designed to provide companies with a strategic plan to compete and gain an advantage within the marketplace.According to Porter, a company can leverage its strengths to position itself within the competition. When classifying the strengths of a company, they can either be placed under the heading of cost advantage or differentiation. Within those two strength categories, the scope of the company is either broad or narrow. As a result, there are three strategies that can be applied to any business or industry at the business level (explained later in the post).WHEN IS THE GENERIC COMPETITIVE STRATEGY USEFUL?The GCS is useful when a company is looking to gain an advantage over a competitor. If a company wants to ‘win’ the advantage over other businesses, it does so by winning sales and taking customers away from competitors. An advantage in business, though, does not come easily. It must be developed and established firmly within the framework of a company. Using a business strategy is not a one-off or a weekend exercise; it must become the driving force of the company.In order to do this successfully, a company must implement a Generic Competitive Strategy. Not confined to a specific indu stry or company, the methodology can be used in for-profit companies of any kind, as well as not for profit organizations. No matter what type of business, the principles behind the GCS are universal and can be applied to any company.The primary benefit using a GCS is to establish a methodology of doing business that will drive the company in a certain direction. Rather than simply maintaining the status quo, a GCS gives a company a blueprint to follow that will create the structure of the company.Critics of Generic Competitive Strategy denounce the idea that a company must choose one strategy and use it exclusively. Today’s global economy and workforce is a far from the environment that brought Generic Competitive Strategies to the forefront. There is still a use for the GCS plan in today’s business marketplace, however.COMPONENTS OF THE GENERIC COMPETITIVE STRATEGYGCS is based on three generic strategies: cost leadership, differentiation, and focus. Each strategy has a differe nt mechanism for reaching success. Companies within the same industry may not choose the same strategy â€" it is a choice that must be made with the company’s management, based on the desired outcome for success and the company’s strengths. Each strategy has unique components that shape the company. © Entrepreneurial InsightsCost LeadershipA business that wants to achieve an edge through cost leadership will become an expert in lowering costs while maintaining prices. The goal should always be to reduce the costs associated with doing business, while continuing to charge the same price as its competitors. This gives the company a greater profit, without having any extra expenses. Another method of maximizing the Cost Leadership position is by lowering the selling point. Because the costs associated with the products are already low, the company is still making a healthy profit. This allows the company to under bid the competitors while still preserving profits.DifferentiationThe differentiation strategy seeks to set a company apart by creating products that are different than a competitor’s. The specific ways that a company differentiates itself from the competition will depend on the industry of the company, but may include features, support and functionality. The uniqueness of the company â€" the differentiation â€" must only be a feature that a customer is willing to pay a premium price for. A company that focuses on differentiation may be disappointed to realize that their market share is continually changing and comes with a set of risks.FocusThe company that uses the Focus strategy is selecting a niche market, and then determining the scope of the focus. Within the Focus strategy is the option to use either cost leadership or differentiation. It may be confusing to keep in mind that the Focus strategy is dealing with a specific, niche market. Focus does not mean a smaller market simply because the company is small â€" it means that the company has chosen to add value to their products and offer them to a select number of customers. Because the company who chooses a Focus strategy deals exclusively with their client base, they develop a loyal relationship which can generate sales and profits for the future.CREATING THE GENERIC COMPETITIVE STRATEGYB efore creating a Generic Competitive Strategy, a company must decide which strategy to employ. Taking into account the strengths of the company may give an indication of the best strategy to choose, but should not be rushed simply to move to the next item.To determine the best strategy for the company, follow a few simple steps:Create a Strengths, Weakness, Opportunities, Threats (SWOT) chart for each of the three strategies. Once that is completed, it may be clear that a strategy would not be appropriate. If that is the case, eliminate that strategy, and continue to the next step.Conduct an analysis of the industry the business is in. Finding out specifics about the business industry can lead to an increased understanding of the market and how to best position the company.Compare the SWOT analysis to the business industry results. Select the most viable options from the SWOT analysis and compare to the business industry analysis.From the comparisons, a company can begin to answer q uestions such as:How does this strategy help manage supplier power?How does this strategy help reduce the threat of substitution?How does this strategy help reduce customer power?As the company begins to answer the comparison questions, a clear choice should emerge. To decide on the correct strategy, choose the strategy that provides the company with the best set of options for the future.There is an implied danger in not selecting a strategy. Porter referred to the company that had not chosen a definitive strategy as being ‘stuck in the middle’. A firm that doesn’t make a clear choice of strategy may become a company that has little to no profitability, has no competitive advantage and may become a target for companies that chose to differentiate. However, recent studies have indicated that there may be benefit of using a hybrid method that combines more than one strategy. Regardless of what strategy is used, one thing is clear: a company must have a directional strategy to m ove forward.USING THE GENERIC COMPETITIVE STRATEGYPrioritizing the company’s activities based on the chosen strategy will help maximize the success of the plan. The Generic Competitive Strategy will affect the daily decisions of a company, and the industry forces that a company has to deal with may change the way the company operates. The five industry forces (entry barriers, buyer power, supplier power, threat of substitutes, rivalry) would all be affected differently based on the GCS chosen.Using the Cost Leadership strategy requires an aggressive stance towards cost in every aspect of the company’s operations. With low-cost as the defining quality, the company’s management must be ruthless in the pursuit of lower costs.The Differentiation strategy, on the other hand, leads to profits but does not lead to a large market share. By focusing on specific traits of a product or service, a portion of the marketplace is automatically disregarded. This leads to a smaller number of p otential customers, but may generate more profits due to their loyalty and willingness to spend more.Establishing a Focus strategy means the company is choosing to prioritize their activities for a specific market segment. That segment may respond in kind by conducting their business exclusively with the company, thus providing higher profit levels. The company will not be successful, however, if they fail to provide their niche market with differences from what the rest of the consumers receive.Porters Generic Competitive Strategies[slideshare id=9666693doc=portersgenericcompetitivestrategies-111012204625-phpapp01w=640h=330]EXAMPLES OF GENERIC COMPETITIVE STRATEGYWal-Mart is perhaps one of the most well-known companies that use Cost Leadership as their business strategy. With efficient distribution methods, huge volume discounts from suppliers, and their control of manufacturing and inventory, they are able to offer low prices. They have minimized costs and are able to pass the sav ings on to customers, resulting in higher number of customers who spend an average amount of money in their stores. By specializing in low costs, they appeal to a wide number of customers who flock to the store in search of a bargain.Once a fledgling computer company, Apple has set itself apart through their Differentiation strategy. They developed an operating platform (iOS) and then designed products that use that system. The hardware for their products is designed by Apple engineers and designers and their products are compatible and top-notch. Apple not only set itself apart from the competition, it has created a subculture of loyal customers who flock to be the first to receive new devices and products. By designing every component that is used in their products, they have set themselves completely apart from the rest of the industry â€" leaving competitors far behind.For drivers, there are a few choices: car, truck, motorcycle. The market for motorcycles is relatively small an d the market for luxury motorcycles is even smaller. Harley Davidson has established itself as an industry leader in the niche market of motorcycle riders. They use Differentiation Focus as a competitive strategy, and they do it well. Harley riders expect a certain standard from their bikes, along with responsive customer service. This niche market has evolved almost to the point of being a ‘club’ where members find their common ground in the machines they drive. Harley has set itself apart, and established itself as the standard for the true bike rider.Porter began a movement that is still active in today’s business world when he introduced the Generic Competitive Strategy idea. Establishing a company without considering the advantage it wishes to pursue is effectively setting the company up to fail. Careful consideration of the different advantages will give even the most novice entrepreneur an idea of which direction the company should be moving. A correctly implemented str ategy will help keep the company on target, while ensuring that they maintain a competitive edge within the industry.

Final Universal Design for Learning (UDL) Solutions Plan - 1375 Words

Final Universal Design for Learning (UDL) Solutions Plan (Essay Sample) Content: FINAL UDL SOLUTIONS PLANVickie SmithInstitutional affiliation Introduction Motivated training to the different personalities of students demands a cohesive educational system. Therefore, in current learning environment, teachers have more challenges than before. They have to equip themselves not with the advanced syllabus only, but also have to fit themselves into different students who are dissimilar personalities with diverse background and characteristics.Universal Design for Learning (UDL) Solutions As every sphere of life expands its wings to cope with the emerging challenges, educational system has also been developed from the training methodic to cope with the modern learning technologies. In view of this the Universal Design for Learning (UDL) has been developed to implement the high level at educational establishments for diverse personalities and multinational students. The Universal Design for Learning (UDL) is concisely developed to identify and cope with the variety of students according to their personalities and personal features. Furthermore, the Universal Design for Learning (UDL) provides teachers with a scheme of lecturing and training having kept in mind the whole class names. It has been used widely at the educational establishments that disposes classes with multinational, multicultural students with distinct personalities and different social backgrounds. The segmentation of students by their personalities as well as personal features has been discussed below. How the UDL can deal with them is briefly defined below as well. Students with Learning Disabilities Some students possess inborn learning disability like dyslexia. Disorder of developmental reading (dyslexia) in common makes students unable to read, to recognize, and to reproduce certain symbols, alphabets and the reading material. So, students with dyslexia do not have the ability to learn well comparing with the other normal students who can be taught easily. Therefore, for the students with dyslexia the introductory intensive educational methodic has been created to adapt lectures and lessons to them directly. And, for this a compact UDL is required to identify students with dyslexia and train them considering their brain disabilities (PubMed Health, 2010). Students with Language Barrier As education system is multinational, the classes also multinational. It is important to keep in view for the teaching environment that there are students with language barrier which makes them unable to learn lectures and lessons properly. And so, at the end of learning session they might have lots of ambiguities in their minds. Teacher should identify that kind of students to induce the learning material to them properly by applying to the Universal Design for Learning (UDL) for accurate assistance.Lack of Interest or Obligations In Studies There are some students who do not pay a lot of attention to their studies. Those kinds of students do not only restrict their academics but also exert bad influence on the other students. So, identifying those students and driving them into consideration must be the top priority for teacher. Teachers must do the utmost of the efforts to make these students . Otherwise, it is better to get rid of that kind of students.Students with Physical Disabilities The Universal Design for Learning (UDL) is comprehensively developed for the whole students in class. There are some students with physical disabilities in class. This kind of students requires extra attention due to their disabilities. Sometimes, they have sensitive nature and complicated mindset that has been developed in the course of their interpersonal relationships. Indeed, sometime they feel different from the other human beings. Therefore, teachers must provide this category of students with care and extra attention in order to make them realize that they are an equal part of education system.The UDL System for All Kinds of Students Me ntioned Above The Universal Design for Learning (UDL) is considered as a scheme to help teacher be aware of the all candidates for his/her class, as well as to develop training approach which includes introduction to lessons for all students in class Moreover, the defined UDL components completely assist teachers to identify, understand, and modify their learning technology to meet the educational requirements of each individual. The are below universal curriculums that have been created to fit learning demands of each student, i.e. the multipersonalities, multicultural, multisocial, and multinational classes. First of all, for instance, it provides teachers with the compound means of presentation and representation of lectures. It helps learners and gives them a choice of ways of gaining knowledge. Secondly, it gives multifarious actions and expressions from the teachers that assist learners to get multiple ways to demonstrate their knowledge. And, thirdly, it shows the several way s of teacher-student engagement, to tap into learners' interests and motivated learning (Learning Through Listening, n.d).Table 1Practical application of UDL solutionGrade: 5 Teacher: Mr. James Subject: Psychology Standard: 5.22- Goal: Analyze of relationship between mind and body. Materials MethodsPotential Barriers/Missed OpportunitiesUDL SolutionsPrinted textbookPeter Reading disorder, can not analyze the text properly. Jason Dyslexia, facing problems by understanding the texts. Waqas Language barrier, can not understand English very well Comprehensive and analytical reading . Stressing on the words and symbols that are complicated for with students dyslexia. And giving an option of brief translated material to the students who have language barrier.Lecture/whole class presentationMarlin Attention deficit can not pay full attention to the lecture. Helen Listening problem, Cannot receive the lecture properly. Umer Language barrier s, can not understand the lecture due to English second language. Making it sure that all students are attentive to the lecture/presentation. Giving solution to the students who have hearing problems or inability. And, making it sure to induce lecture to the ESL students. Library researchFatima Not familiar of, can not have routine of library research. Nicolas Feels hard to research the subject material from library.James Good in research, but cannot arrange the ideas. Giving more attention and suggesting them the appropriate techniques to study. Giving guesses to those students who do not have sufficient rout of learning the subject material from the library. And telling the cohesive techniques to arrange the ideas. Created printed materialSarita Non-habitual writer feels hard to write on the subjects.Jack Can not concentrate on topics, has cohesive problems. Sehwag English grammar problems, due to ESL student  Taking into consideration the non-habitual students who can not concentrate and ESL students. And give them extra concentration to make them familiar with writing. Personal Idea and ThoughtLee Weak ideas, can not synchronize the idea with topic. Vivk Non-habitual of writing due to ESL student. Overall problem with writing.Bret Can not arrange the ideas and thoughts. Need attention in organizing the ideas.Taking into consideration the students who are weak in expressing of idea, non-habitual of writing, and those who can not arrange the ideas. Pay them special attention to make their thoughts and ideas strong.Oral report on the subjectJorge Do not use an oral report on the subject. Need special concentration on oral report.Brian Emotional and behavioral problem in communication.Sitara Non-habitual of oral report, need extra attention due to ESL student. Teacher needs to take into consideration the oral, and communication problems faced by his/her students. It can be due to ESL students, and other communication problems. Special measures have to be taken for students with that kind of problems.Independent projectJames Excellent in independent project, but weak in arranging and presenting the data in computer.Elizabeth Can not do project independently, needs groups and assistance.Waqas Non-habitual of doing independent projects, and have problem in language understanding due to ESL student.Generally, independent project is hard to be done by one of student like James, who has a weak content arrangement and computer unfamiliar problems. Elizabeth faces problems by doing a project alone. And, Waqas as ESL student, faces many problems in doing independent project. Teacher should ...

Firewall Security Policy Pathways Industries - 1367 Words

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