The blog entry assignment does provide a mean for classmate to communicate in an easier way. The topic of each assignment also help us to learn different business techniques such as competitive and management strategies. I definetely feel that this is a better way to learn by answering topics rather than reading from the textbooks. I think this component should remain for the future.
To better improve the result of this assignment, professor can post an example of each topic before the assignment so people can get a clear picture of what you really want them to do for the assignment.
Sunday, December 9, 2007
Topic-7 Diagnosing Strategic Problems
Too many customer complaints-reflect the quality of the company's service or product is low. If the company can satisfy customer's demand or requirement, customers will not complain so much.
Deteriorating company image -shows that the company does not build a good image in customer's heart. This may be resulted from company's low quality service or product, the leader of company may have a bad reputation, the company maybe conducting the business in an illegal or unethical way, etc.
Both of these two problems can be found on MTA. Many people are complaining the trains do not arrive on time and often delay for a small problem. For example, once, there is a customer felt uncomfortable in the train, because of this, the train conductor asked all of the customers to get off the train. Can you imagine other company that will choose to hurt hundreds of customers just for one person? The MTA was wrong. Not because they tried to save that one passenger but because they could have a better way to deal with this kind of emergency situation without hurting hundreds of customers. Because of these constant delays, the MTA build a bad reputation in many passenger's mind. What's worse, the MTA is raising the service fee without improving the quality of the service.
Deteriorating company image -shows that the company does not build a good image in customer's heart. This may be resulted from company's low quality service or product, the leader of company may have a bad reputation, the company maybe conducting the business in an illegal or unethical way, etc.
Both of these two problems can be found on MTA. Many people are complaining the trains do not arrive on time and often delay for a small problem. For example, once, there is a customer felt uncomfortable in the train, because of this, the train conductor asked all of the customers to get off the train. Can you imagine other company that will choose to hurt hundreds of customers just for one person? The MTA was wrong. Not because they tried to save that one passenger but because they could have a better way to deal with this kind of emergency situation without hurting hundreds of customers. Because of these constant delays, the MTA build a bad reputation in many passenger's mind. What's worse, the MTA is raising the service fee without improving the quality of the service.
Topic-6 Managing strategic business policy—Apple
1. One of the future scenarios that Apple store going to face is strong competition. Apple is recognized as a 'ahead of the tread' company. They are always the first one to sell small and fashion electronic devices that other competitor does not provide. As a result, Apple's competitor always follows their step closely. Whenever Apple manufactures something new, their competitors will soon have a similar product promoted to the market with a lower price which provide substitute for customers. As a result, Apple may easily lose their market position after a new invention which they had invested a lot. This situation has 60% of probability will happen in the future. To solve it, Apple should make sure their product have a high quality different features that other company can not easily copy. More over, building up customer loyalty for the brand by good after sell service can prevent cutomers from switch to other brand also.
2. Apple's invention is famous for its small and multi-functioning. As technology develops, many companies already learn it and had produced lots of similar products. Moreover, Apple mainly focuses on music and entertainment devices which limit their growth. As a result, once Apple runs out of new idea of music device, they might be easily substituted by their competitors. There is 30% that this problem will happen in the future. To resolve this problem, Apple can expand their product variation. Instead of focusing on music and video devices, they can also try make other electronic devices such as printers or scanner become easier for people to carry around.
3. Since Apple's product is so popular, a lot illegal entities are trying to copy their products with lower quantity and sell it in a lower price. This may hurt Apple's image and their sale. Although this only has 10% of likelihood to happen, to ensure their image is not hurt, Apple should attach some labels or special mark on their product which allow consumer to distinguish them from the fake.
2. Apple's invention is famous for its small and multi-functioning. As technology develops, many companies already learn it and had produced lots of similar products. Moreover, Apple mainly focuses on music and entertainment devices which limit their growth. As a result, once Apple runs out of new idea of music device, they might be easily substituted by their competitors. There is 30% that this problem will happen in the future. To resolve this problem, Apple can expand their product variation. Instead of focusing on music and video devices, they can also try make other electronic devices such as printers or scanner become easier for people to carry around.
3. Since Apple's product is so popular, a lot illegal entities are trying to copy their products with lower quantity and sell it in a lower price. This may hurt Apple's image and their sale. Although this only has 10% of likelihood to happen, to ensure their image is not hurt, Apple should attach some labels or special mark on their product which allow consumer to distinguish them from the fake.
Topic-5 Competitive Advantage
Apple store is a first mover who always walks ahead other competitors. For example, they invented the Ipod which is a small music electronic device that allow its customer to carry around easily, Apple's Nano and IPhone too provides their customer with multi-function all in one experience that other competitors does not have. As a result, Apple becomes a brand that recognized as one who always lead the trend of the market. Many other competitors follow them.
Market Share-Starbucks opened a lot of stores around the countries. They open an average of 5 to 6 stores around the world every day. Customers can easily find their stores when they walk around. As a result, Starbucks share a large portion in the coffee market.
Government Product-MTA train is operated both by individual and the government. It has a very high new entry barriers compare to most of the industry. As a result, MTA does not have many competitors, and customers do not have many choices even though they are not satisfied with the MTA's service or even the MTA has rapidly increase the service fee.
Market Share-Starbucks opened a lot of stores around the countries. They open an average of 5 to 6 stores around the world every day. Customers can easily find their stores when they walk around. As a result, Starbucks share a large portion in the coffee market.
Government Product-MTA train is operated both by individual and the government. It has a very high new entry barriers compare to most of the industry. As a result, MTA does not have many competitors, and customers do not have many choices even though they are not satisfied with the MTA's service or even the MTA has rapidly increase the service fee.
Topic 4-Business Strategy
Cost leadership- One of the good example of cost leadership is CostCo. They provide a lot of different product to customers. From furniture to electronic devices, from food to clothing, customers can purchase product at lower cost compare to retail stores by getting a larger amount. By selling product as whole seller, Costco only need to pay for cost for warehouse, they don;t need to pay for the middle man as retailer does. They don't need to open a lot of stores around the countries in order for customer to purchase.
Differentiation- Starbucks uses this strategy when they promote their product. They offer coffee that has French or Italian flavors which most of the normal coffee shop can't provide. They also provided comfortable atmosphere for customers to enjoy their product. These kind of product provided their customers a unit experience so they won't change to other coffee shop easily.
Focus-Old Nave and Banana Republic are both owned by the same company. By opening two brands, the owner can focus on two different segment of customers. While Old nave target people with lower income, Banana Republic is more appeal to office ladies or business man in a higher level.
Differentiation- Starbucks uses this strategy when they promote their product. They offer coffee that has French or Italian flavors which most of the normal coffee shop can't provide. They also provided comfortable atmosphere for customers to enjoy their product. These kind of product provided their customers a unit experience so they won't change to other coffee shop easily.
Focus-Old Nave and Banana Republic are both owned by the same company. By opening two brands, the owner can focus on two different segment of customers. While Old nave target people with lower income, Banana Republic is more appeal to office ladies or business man in a higher level.
Topic-Porter's 5 Forces
The porter's 5 forces is an effective tool to evaluate an industry. The threat of new entry examines the economic and political environment, requirements and difficulties that a business owner might face from choosing the industry; the degree of rivalry prepares potential owners to face competitors in the market by knowing the demand of customers. Knowing the Bargaining power of suppliers and buyers also show new competitors what are they going to expect after entering the industry. To conclude, the porter’s 5 forces help potential competitors to draw a picture of the current condition of the industry from different aspect which provide them the information to determine whether do they prepared to enter the market, what kind of difficulties or competitors they will face, their market position at the beginning, the attractiveness of their product or service, etc.
The mobile industry is considered to have a high barrier entry. First of all, it requires a lot of resources to manufacture a car and maintain a product line. Since the mobile industry has been existed in the 18th century, there are already many famous and strong competitors in the field. Companies such as BMW, TOYOTA, HONDA, they are all well known and experienced. Most importantly, government has already passed a lot of regulations to ensure car safety over the year.
The mobile industry is considered to have a high barrier entry. First of all, it requires a lot of resources to manufacture a car and maintain a product line. Since the mobile industry has been existed in the 18th century, there are already many famous and strong competitors in the field. Companies such as BMW, TOYOTA, HONDA, they are all well known and experienced. Most importantly, government has already passed a lot of regulations to ensure car safety over the year.
Sunday, October 21, 2007
Personal Mission Statement
Mission statement for "Retired Before age 30"
I am a hard working CPA and Business Owners. With my knowledge and professional skills, I provide customers the best service I can. At the meanwhile, I try to generate the greatest wealth before age 30, So I can travel all round the world.
I am a hard working CPA and Business Owners. With my knowledge and professional skills, I provide customers the best service I can. At the meanwhile, I try to generate the greatest wealth before age 30, So I can travel all round the world.
Monday, October 1, 2007
Personal and Career Goal!
First goal ---- MBA degree
After getting my bachelor degree in Accounting, I will continute to study for my MBA degree on Marketing.
Second Goal-- CPA License
I will continute to work in Accounting Firm to build up my experience while study for the CPA exam and try to pass it by September 2009.
Career Goal---Retired before age 30
I will work in a big Corporation after I get my CPA license.
At the meanwhile, I will develope my internet business.
Personal goal-- Travel around the world.
I will travel one country per year before age 30. After that, I will go at least 2 - 3 countries per year and write down all the interesting things and people around the world.
Finally, you might think I am crazy or you might think my dream is impossible.
The Only thing I can tell you is: If you can dream it, you can do it.
After getting my bachelor degree in Accounting, I will continute to study for my MBA degree on Marketing.
Second Goal-- CPA License
I will continute to work in Accounting Firm to build up my experience while study for the CPA exam and try to pass it by September 2009.
Career Goal---Retired before age 30
I will work in a big Corporation after I get my CPA license.
At the meanwhile, I will develope my internet business.
Personal goal-- Travel around the world.
I will travel one country per year before age 30. After that, I will go at least 2 - 3 countries per year and write down all the interesting things and people around the world.
Finally, you might think I am crazy or you might think my dream is impossible.
The Only thing I can tell you is: If you can dream it, you can do it.
Monday, September 10, 2007
Tiny, little me!
Welcome to my world. My name is Mei. I am a little girl with simple mind and happy heart.
I like every little things in the world. I like to collect things that is tiny, pretty and useful.
I like to keep in mind every little happy things that happen in my life. I remember every small favors that people have given me. I always look into places that others normally ignored.
I loved all the tiny, little things in the world, because they bring me all the joys and grieves.
I like every little things in the world. I like to collect things that is tiny, pretty and useful.
I like to keep in mind every little happy things that happen in my life. I remember every small favors that people have given me. I always look into places that others normally ignored.
I loved all the tiny, little things in the world, because they bring me all the joys and grieves.
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