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Business Management 2B Essay

Paper type: Essay Pages: 9 (2178 words)

Views: 283

4000302260center12/8/2019

330009500012/8/2019

420003175000880009408795Morshan NormanDue Date: 20 August 2019 Student no: 201804067 campus: Damelin PE mOUNT rOAD.

450000Morshan NormanDue Date: 20 August 2019 Student no: 201804067 campus: Damelin PE mOUNT rOAD.

420003175000175001870710Business Management 2BDiploma in Business Management 2nd Year450000Business Management 2BDiploma in Business Management 2nd Year

Table of Contents:

Pg. 2……………………………………………………………………………………………………………………. Introduction

Pg. 3…………………………………………………………………………………………………………………. Question 1

Pg. 4 & 5…………………………………………………………………………………………………………. Question 2

Pg. 6 & 7………………………………………………………………………………………………………… Question 3

Pg. 8………………………………………………………………………………………………………………. Conclusion

Pg. 9……………………………………………………………………………………………………………. Bibliography

Introduction:

The operations of a business contain goals and plans that are put in place to achieve the main objective of the company which is to make a profit.

It tells you in which direction the business is heading and how to satisfy consumer by catering to their specific needs and wants. The business develops new products that attract the attention of the consumers using different types of production methods. And therefore, creates a business that can be well run and efficient in its production.

Question 1:

Distinctive competencies refer to some distinguishing of a business that it does better than its opponents. Has the business is able to do something better than other businesses, meaning that business has a competitive benefit over other businesses.

For example, Woolworths is an investment holding company and one of the top 40 establishments listed on the Johannesburg Securities Exchange. Its fundamental focus is the delivery of retail and financial facilities to superior and middle-income groups primarily in South Africa but also Africa, Australia and New Zealand. And the fact that Woolworths went green to make the environment a better place and they planning to make their clothes out of cotton, this will attract more consumers has customers like clothes that are comfortable at reasonable price. Therefore, this what makes Woolworths have a competitive advantage over other businesses as they are environmental friendly and of course coming up with innovative ideas to promote their products and services. Another retail shop with distinctive competencies would be Pick ‘n Pay; its objective is to restore the business to a position of long-term sustainability growth. The strategic priorities for 2019 will include more low prices, enhanced fresh offer with a focus on longer-lasting quality and combination deals and lastly ongoing innovation in loyalty and value-added services. Pick ‘n Pay competitive advantage is that there is a smart shopper card where if you buy items or groceries you get points on the card that are in Rands (Money form). This will help has you can get discount on certain items when using the card and you can let the money on the card accumulate. Thus, it can be used at the end of the year when you really need the money. The card can also be used when filling petrol only at a BP petrol station and it depends on the amount that you fill in the car when getting points which turns into money on the smart shopper card. This is how retail shops in South Africa have distinctive competencies with other businesses and how they can improve each year of what makes their business different from the rest. Which is how the retail shops make profit by being innovative with different types of products and services to satisfy the consumers wants and needs. Thus, creating an idea that no other business can copy it as their own and make sure that business competes with its competitors because competition between businesses are healthy as it brings best out of each other. Also to make sure that the businesses main objective is to make a profit and hire reliable employees.

Question 2:

The Nissan Leaf (Electric Vehicle) which is produced by Nissan and the car launched in 2008. Where the car was created to be appeal to environmentally minded consumers concerned about climate change and the zero-emissions has it is electrical and needs to charged. The cost of the vehicle when it comes to petrol will be much less and will be environmentally friendly.

So when the Nissan leaf electrical vehicle project was executed it had to go through the different type of stages in order the manufacturers to come with the final product. Stage 1 would be the concept development or idea generation, this is the brainstorming of different types of ideas and alternatives for the new product. The different types of products will be discussed in which the best one would be chosen. And it will be done by sourcing the new product ideas Internally and Externally (Meaning inside and outside of the business. The example for idea generation would be Nissan and Eskom reporting on the electrical vehicle and the aim of this was to establish on the high uptake on electricity powered cars would affect the country. Step 2 is Idea screening, this is when they identify good ideas and get rid of the bad ones to help companies from making mistakes with the product. This includes Market size, the size of the market in which you will sell the product, Product Price, amount of money that will be changed in order for the consumer to purchase the vehicle, Development Time and Cost, how long the project took and the amount of money that was used, Manufacturing Cost, the amount that used on labour and machines in order for the final product to be produced for example the Nissan could have gone on a assemble line which means it each station there could have been a different component of the vehicle that needs to be fitted in the car to get to the final product and rate of return, meaning the percentage of the original investment. Idea screening would be that the Nissan Leaf is 100% electrical has consumers can make use of the technology and the brake system helps to improve fuel efficiency. Step 3 Concept development/Testing, this is the new product with groups of target consumers, where a probable product that the business will see being offered in the market. This is when the product design takes place as it is the design of the physical product and will be the specifications of the Nissan leaf and engineering the product through drawings and the product design and process design should be done together so if changes need to take place it can happen immediately. This will be the “Vehicle to Home” on the Nissan leaf due to the fact that this is a system that allows you to supply your home with the energy stored in the electrical vehicle’s battery. Which can be a back-up supply in the case of emergencies. Step 4 New product development process and this will have different parts in this stage. The stage means that when testing the final product, you need more than one version by engineering departments and this means that you will need a rise in investment. So part 1 will be the description of the target market, product positioning, sales, market share and profit goals. Part 2 will be the price, distribution and the budget. And part 3 includes the long-term sales, profit goals, and marketing mix strategy. Step 5 Development Stage, a model of the Nissan Leaf, assemble initial marketing approach and inspect practical viability. An example would be the look of the Nissan Leaf, that it’s a compact five-door hatchback electrical car manufactured by Nissan. Step 6 Test marketing this when the consumer experiences the Nissan Leaf before full outline of the product has it is more realistic. The following is then tested the position strategy of the market, advertising the product, distribution of the vehicle, price the car will cost, branding the type of make the car is and if it is reliable, packaging and budget levels. Pilot production/testing when the prototypes of the vehicle are tested and when are put into production. To make sure the final product is finalized. Which could be when the Nissan Leaf is driven by the people that manufactured it in order for them to see if there are any problem with the vehicle that they need to rectify. And the final stage which is Stage 7 Commercialisation which is the establishment of the new product. When the Nissan Leaf is advertised on television with the price of the product. In this final phase manufacturers need to decide when to launch the vehicle, where to launch the Nissan Leaf and planned market rollout which is when manufacturers decide to come up with a robust advertising campaign to attract attention from the consumers in order for the consumers to purchase the Nissan Leaf (EV) so that they can make profit on their investment.

Therefore, this how the new electrical vehicle was executed. And had to go through the 7 Stages of the development process in order for the vehicle to be produced without any defaults. Today the Nissan Leaf is the world’s top-selling, highway, plug-in electric car, reaching global sales of nearly 200,000 vehicles in September 2015.

Question 3:

The case study Sleepking best describes the method of production presently being used is Customize production. Customize production is when products or services are modified to satisfy specific customer’s needs. In the case the family run business that specializes in hand-made beds and mattresses. Which designed to the way the customers ordered it to be and the requirements that they want. A low unit cost is used when customizing products and another name this would be made to order. This allows the customer to ask the employees making the bed for certain features in which the cost of the product is not high but reasonable for the beds or mattresses being offered. Production of special order products; also called job order production which is the customize production. This production has numerous advantages such as no additional labour, no need to train, no new equipment, dependable quality control, several finishing processes, experienced in the bed and mattresses making industry and the customers have different types of customization options when purchasing the products. And this type of production has disadvantages as well which will be if the business becomes busy and orders for the beds and mattresses are increased more than the normal orders it will take more employees to finish the final product. This process will not efficient has before and time consuming as more beds and mattresses need to be made at a specific deadline in order for the customers to receive the product on time. Thus, the business will have use another method of production has the company is struggling to keep up with the increase of orders for the products. Which will be Batch production when more products are made than usual to keep up with the increase for demand for the beds and mattresses within a timeframe. When using this type of production more employees need to employed so the making of the beds and services can go through stages when manufactured. For example, each person involved will have their own station to work and the beds and mattresses will be made through each specific step that each person will fit the missing component in order for it to be the final product. The advantages of batch production its less to produce a whole batch instead of a single batch. Almost the machines that are used by the employees are more well-organized, however it can be less cost as well because fewer workers if the machines are self-working instead of people using them. The disadvantages of batch production are, that using a computer for your information on the customers the input data must be ready before the computer can operate it, can be problems with data and the computer can crash leading to all the personal information being loss. And even a mistake by typing in the wrong date can avert the batch job from running. However, the best method of production in the industry of making beds and mattresses is the batch production method. Has you will make more than before and having stock over if customers want that type bed and mattresses this called stock on hand. The company will keep up with the increase for demand using the batch production method and this will allow the business to earn a higher amount of revenue at the end of the year when calculating their profit and losses. And this will help the business tremendously in attracting more customers and promoting their product in a broader sense in which the company can be become well established and globalization can take place where they have Sleepking in different countries allowing for the industry to become a success.

Conclusion:

That businesses go through different stages in order to achieve the goal to be become well established and be stable in the economy. This creates employment for people in the country especially when new companies want to become establish. Thus, making the company to perform to the best of its abilities and coming up with innovative ideas in which other business cannot copy which creates a competitive advantage for the business to become successful.

Bibliography

Authors: Roger. G. Schoeder, Susan Meyer Goldstein, Year:2015 Title: Operation Management: In The Supply Chain. Seventh Edition

Study Guide Title: Business Management 2B Authors: Hayes, Robert H Year: 2014

Websites:

2015

Published: 2016

Cite this page

Business Management 2B. (2019, Nov 26). Retrieved from https://studymoose.com/business-management-2b-best-essay

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