Business Model and Strategy Assessment - Free Essay Example

Business Model and Strategy Assessment Industry Environment Analysis Based on Porterà ¢Ã¢â€š ¬Ã¢â€ž ¢s Five Forces Model, the footwear industry has a high intensity of competitive rivalry. The reason is that in this market, there are a number of wholesalers and retailers, and many of which are well-known and occupy the major market share. In addition, due to the low entry barriers and the affordable capital investments, the force of threat from new entrants is high. Threat from substitutes is low, resulting from the fact that shoes are considered necessities. Customers are more sensitive to price, resulting in all companies reducing price in order to cater and attract consumers. Also, people are fond of chasing fashion and comparing a shoe with all substitutive shoes. Consequently, the bargaining power of buyers is high in this industry. All suppliers produce homogeneous products, leading to a low switching cost to purchasers; thus the bargaining power of suppliers is low. According to dynamic industry analysis, customers, products, and technolo gies dimensions are growing. The world population will increase about 43% to 10 billion in 2050 compared to 7 billion in 2013 (Exhibit 1). With the growth of world population, the demand of life necessities will increase, so the footwear industry will grow as well. At the same time, as a result of people standards of living becoming higher and higher, the shoe companies should improve the level of technology to meet the new needs of customers. Now, healthy lifestyle is a mainstream idea. However, a majority of incumbent firms pay attention to producing high quality and low cost products, rather than lifestyle products. Therefore, lifestyle brands have a greater competitive advantage to disrupt the current market, helping companies achieve success. In summary, although Porterà ¢Ã¢â€š ¬Ã¢â€ž ¢s Five Forces Model expresses the footwear industry as unattractive, based on dynamic industry analysis, the footwear industry consistently maintains a huge market that might attract a great deal of potential new entrants. Accordingly, both incumbent and new firms should find some à ¢Ã¢â€š ¬Ã‹Å"market holesà ¢Ã¢â€š ¬Ã¢â€ž ¢ to capture market share and enhance profits, such as designing novel shoes that are good for health. Business Model Maps or Canvases Brown Shoe has adopts an à ¢Ã¢â€š ¬Ã…“Unbundledà ¢Ã¢â€š ¬Ã‚  business model, which includes three fundamental types of businesses: customer relationship, product innovation, and infrastructure. These three entities should be separated to avoid conflicts. This company puts customers first, and it provides a broad-range of products, and operates a variety of e-commerce websites in order to improve customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ shopping experience. Moreover, Brown Shoe focuses on creating and innovating comfort and high quality shoes. Furthermore, it not only owns some factories in China, but it also has a network of global third-party manufacturers. Customer Segments, Customer Relationship, and Channels: All ages of people can buy products in real stores and the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s E-commerce website. The company uses both owned and partner channels. Value Propositions: This companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s mission is à ¢Ã¢â€š ¬Ã…“to inspire people to feel good and live bet terfeet firstà ¢Ã¢â€š ¬Ã‚  (Brown Shoe Company, 2012, P.10). Key Activities and Key Partners: This company designs, produces, and delivers footwear for all kinds of people. It has a number of retailer and wholesaler partners. A major portion of its infrastructure is acquired from third-parties. Cost Structure and Revenue Streams: Cost-driven. The objective of this company is generating profits with a wide- range of products. Vera Bradley has adopts the à ¢Ã¢â€š ¬Ã…“Long Tailà ¢Ã¢â€š ¬Ã‚  business model, which pays attention to niche markets. This business model requires a strong platform to innovate and create novelty products, in order to attract customers, leading to high demand and revenue. Customer Segments, Customer Relationship, and Channels: Vera Bradley aims at providing novelty and fashionable products for women. It uses a à ¢Ã¢â€š ¬Ã…“Dynamic Multi-Channel Distribution Modelà ¢Ã¢â€š ¬Ã‚  throughout its direct and indirect channels. Moreover, the real and online stores allow people to select and buy products easily. Value Propositions: This brand vision is à ¢Ã¢â€š ¬Ã…“accessible luxury that inspires a casual, fun, and family-oriented lifestyleà ¢Ã¢â€š ¬Ã‚  (Vera Bradley, 2013, P.6). Key Activities and Key Partners: This company designs, makes, and sells complementarily accessory products for women. It has a good relationship with third-party retailers and manufacturers. Cost Structure and Revenue Streams: Value-driven. The company would like to achieve high profit by premium price. Yue Yuen has adopts an à ¢Ã¢â€š ¬Ã…“Unbundledà ¢Ã¢â€š ¬Ã‚  business model as well. The Pou Sheng Company, its subsidiary, is a retailer in China, and is responsible for dealing with customer relationships. Its market research department collects information from customers to help brand partners innovate and improve products. Yue Yuen manufactures branded athletic and casual footwear. Customer Segments, Customer Relationship, and Channels: The main market segment of Yue Yuen is athletic and casual footwear; thus, sports enthusiasts are its core customers. The company mainly depends on direct retail stores to capture market share. Value Propositions: The products quality of the company has resulted in significant consumer trust. à ¢Ã¢â€š ¬Ã…“The Group complies to à ¢Ã¢â€š ¬Ã‹Å"put employees firstà ¢Ã¢â€š ¬Ã¢â€ž ¢ as a promised actionà ¢Ã¢â€š ¬Ã‚  (Yue Yuen Industrial (Holdings) Limited, 2012, P.188). Key Activities and Key Partners: The company makes and sells a broad range of international sport brands footwear. Brand name customers, joint venture companies, and suppliers are its key partners. Cost Structure and Revenue Streams: Cost-driven. This company wants to increase market share by providing a variety of sportswear, resulting in a high sales volume. Similarities and Differences: First, all these companies have same key activities, which include producing and selling footwear and accessories. Additio nally, their similar point of value proposition is putting customers and employees fist, but the difference is that Brown Shoe and Yue Yuen are interested in providing high-quality products to customers, and Vera Bradley is effective at creating stylish and premium commodities for customers. What is more, these three companies have totally different customer segments. Brown Shoe targets all age groups; Vera Bradley aims at women, and Yue Yuen keeps a watchful eye on sports fans. Furthermore, in the aspect of channel, both Brown Shoe and Vera Bradley sell goods in real and online store through direct and indirect distribution channels. Yue Yuen mainly uses direct retail store to sell shoes. Finally, Brown Shoe and Yue Yuen are cost-driven and want to improve profits via a broad-range of products. On the contrary, Vera Bradley is value-driven through innovating premium products to achieve high profits. Corporate Strategy Brown Shoe utilizes multi-corporate strategies. First, it promotes organic growth through the opening of new facilities. In the next fiscal year, the company expects to open approximately 55 new stores in the US. Then, a global footprint strategy drives the company to open 26 stores in China and plans to open five new retail stores in 2013. In addition, Brown Shoe wants to collaborate with Hongguo International Holdings Limited, a joint venture partner, to add about 22 stores in 2013 (Brown Shoe Company, 2012, P.11-12). Furthermore, this company makes use of the acquisition of related companies to achieve a horizontal diversification structure in order to increase its market share. In 2010, Brown Shoe Company acquired the remaining 50 percent interest of Edelman Shoe Company, which is a leading fashionable footwear designer. In 2011, the company acquired a leading athletic footwear designer and manufacturerAmerican Sporting Goods Corporation. However, it sold AND 1 in 2011 and A via and Nevadors in 2013, in order to pay down debt. Vera Bradley mainly expands its retail sale in the United States by opening new stores. The company plans to open roughly 20 new stores annually during each of the next five fiscal years (Vera Bradley, 2013, P.10). To grab global market share, Vera Bradley sells products through 15 department store locations and an E-commerce website in Japan (Vera Bradley, 2013, P.6). Moreover, this company made a strategic alliance with Von Maur in 2012. Beginning on July 10, customers could buy Vera Bradleyà ¢Ã¢â€š ¬Ã¢â€ž ¢s products through Von Maur, a company that provides excellent customer service and creates a more pleasant shopping environment, so this cooperation helped it expand multi-distribution channels. In addition, the company founded the Vera Bradley Foundation for BreastCancer in 1998, and contributed about $1 million to support breast cancer research (Vera Bradley, 2013, P.36). Although philanthropy is different from its primary business, this unrelated service can improve its reputation with an added benefit of increasing sale volumes. Yue Yuen is the worldà ¢Ã¢â€š ¬Ã¢â€ž ¢s largest manufacturer of branded athletic and casual footwear, so its services are all over the word, such as Asia, USA, Europe, Canada, and so on. Moreover, considering retailing activities, the company focuses on China, and has 3,659 directly-operated stores and 2,276 sub distributors (Yue Yuen Industrial (Holdings) Limited, 2012, P.13). In 2003, with the purpose of expanding related horizontal diversification product lines, Yue Yuen acquired Pro Kingtex, a manufacturer and retailer of sportswear, and formed a joint venture with Hua Jian Industrial Holdings Company Limited, a designer and manufacturer of ladiesà ¢Ã¢â€š ¬Ã¢â€ž ¢ shoes. Furthermore, the acquisition of Zhanxin and Pengda sportswear retailers allowed the company to strengthen and consolidate the retail distribution channels in China. What is more, Yue Yuen pays attention to engaging in vertical integration by acquiring some supply chain services companies, for example, Luen Thai and LINE. à ¢Ã¢â€š ¬Ã…“The vertical integration and horizontal diversification business model enhances the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s visibility into customer demand and synchronizes its supply chains to help it control costs to achieve higher marginsà ¢Ã¢â€š ¬Ã‚  (Jia Chu, Paper 1). Competitive Strategy Brown Shoe involves three key market segments to service all walks of life: Family, Healthy Living and Contemporary Fashion brands. These markets segments provide a broad offering of products at a variety of price points through Omni-Channel distributions to accomplish a differentiation strategy. Moreover, the company highly invests in advertising so as to boost brand recognition and create brand differentiation. In 2012, the investment of advertising and marketing support was about $21.5 million (Brown Shoe Company, 2012). Furthermore, Brown Shoe built a customer loyalty program, which is its members can earn points toward savings certificates for qualifying purchases at its Famous Footwear stores. This program improves the possibility that customers will choose to purchase goods in Brown Shoe instead of other companies the first time. The data indicated that approximately 66% of net sales in the Famous Footwear stores were made from the reward members in 2012 (Brown Shoe Compa ny, 2012). Unfortunately, the differentiation strategy generated a high variable cost that leads to a low operating margin for this company (Exhibit 23). The companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s product lines are too diverse to manage. Based on its 2012 annual report, the wholesale operationà ¢Ã¢â€š ¬Ã¢â€ž ¢s net sales accounted for about 50% of the net sales generated from retail segments. Additionally, the healthy living market should be intensely attended, because it fills current customer preferences. Therefore, narrowing the scope of business may improve the companys profitability, such as giving up part of the wholesale businesses. Vera Bradley carries out a niche strategy by providing stylish complementary products for women to make their life distinctive and cheerful. Moreover, Vera Bradley advocated a visual merchandising strategy, which is using homey decorations to create stores that have a friendly feeling of home. This distinctive customer shopping experience encourages cu stomers to visit again and purchase more (Jia Chu, Paper 1). Furthermore, this company positions its brand as a lifestyle brand emphasizing high quality, vibrant styling, and functional design, all of which highly match the contemporary consumer ideal. At the same time, Vera Bradley releases new patterned products and funny advertisings frequently in order to keep the brand fresh. By doing this, it promotes customers to purchase over and over again. In addition, Vera Bradley has both international and domestic manufacturing factories. This strategy helps the company save costs substantially. à ¢Ã¢â€š ¬Ã…“Meanwhile, domestic factories help Vera Bradley adapt to the fluctuations in the market demand and consumer preferences quickly. Also, combining in-house manufacturing and outsourcing makes its suppliersà ¢Ã¢â€š ¬Ã¢â€ž ¢ power lowerà ¢Ã¢â€š ¬Ã‚  (Jia Chu, Paper 1). As a result, a lower cost brings a higher operating margin (Exhibit 3). Yue Yuen exploits a cost leaders hip strategy by putting forward à ¢Ã¢â€š ¬Ã…“a proactive supply chain model, which shifts the company from an essentially domestic manufacturing plant to a global sourcing platformà ¢Ã¢â€š ¬Ã‚  (Jia Chu, Paper 1). Integrating and acquisition supply chain departments allow it to successfully increase à ¢Ã¢â€š ¬Ã…“flexibility and accuracy of inventory management. In fiscal year 2013, inventories accounted for only 18% of total assetsà ¢Ã¢â€š ¬Ã‚ , so this reduce a great deal of cost (Jia Chu, Paper 1). Moreover, à ¢Ã¢â€š ¬Ã…“from helping brand name customers design, produce, and sell products, Yue Yuen has the market power to manipulate selling and general administrative expensesà ¢Ã¢â€š ¬Ã‚  (Jia Chu, Paper 1). Also, the company has minimal advertising costs. Furthermore, this low cost structure allows the company to help its brand name customers offer all kinds of products at a relatively low price, in order to increase sale volumes. As a result, the company will m aintain the leadership role in the market, because of the cost-efficient business model. Conclusion Brown Shoe Company should adjust its differentiation strategy so as to gain the competitive advantage and improve profit its margin. Vera Bradley achieves success in the niche market by focusing on providing complementary products to accessorize a womanà ¢Ã¢â€š ¬Ã¢â€ž ¢s life. Yue Yuen benefits from its vertical integration business model that contributes to a low-cost and high-profitability performance. 1

Inspiring in the Article, Woman in Combat Zone by Leslie...

â€Å"In the Combat Zone† written by Leslie Marmon, is about how the roles of women have been taught for generations. Women are smaller and weaker, and that we are sitting ducks waiting to be victims by our prey. Women are taught to be easy targets by their mothers, aunts, and grandmothers. They were told that women should not kill, or use weapons. In this essay Leslie Marmon, explains that we can put a stop to the crimes done against women by strangers. Females must learn how to take aggressive action individually. In the 20th century woman no longer have to fit in the box that they have been put in. We can defend and protect ourselves. I was inspired by this essay in the combat zone in how she handles herself when she thought her life†¦show more content†¦If it does not feel right, do not do it. If someone is approached by a predator, never leave the primary crime scene. Always stay in the primary crime scene. Attract as much attention as you can to yourself. A lot of women worry that they will make their attackers angry and get hurt worse if they try to defend themselves, though statistics have shown that the odds of survival are far greater if you do fight back. I got so caught up in reading about self defense that I read on and on. So I could probably write a whole paper on safety. But honestly I think my point was made that the difference between walking away and becoming tomorrows newspaper headline all comes down to how well prepared we are to protect ourselves in a bad situation. I believe this goes for men and women. I picked in the combat zone by Leslie Marmon because I had my own story to tell with it. I had just turned 21.I was invited to a party. My car was in the shop so I had someone come pick me up. After about four to five hours the party become too much and I was ready to go home. I couldn’t get anyone to take me home and I was a little embarrassed to call someone. My house was only about four miles away so I decide t o walk home. I don’t know what I was thinking because the first thing I did was put on my headphones. This is a big no no. I didn’t realize I was being followed until about a mile away from the house. By that time it was 12:30

System Theory And System Model - 942 Words

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Case Study 1 Midsouth Chamber of Commerce Essay - 638 Words

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Written Report for “July at the Multiplex” - 6160 Words

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Organizational Behavior and Management

Question: Discuss about theOrganizational Behavior and Management. Answer: Introduction: After analyzing the case study of OZ Trading Pty Ltd, it is found that in the interview room, the bias will be related to the personal leadership of both the candidates such as Malcolm and Tony. It is because in the personal leadership style, Malcolm blindly belief on his abilities, which made Malcolm aggressive towards his team mate as compared to Tony. It can also affect the consideration of selection committee and there may be a possibility that the committee may select Tony as a future CEO of the firm. It is because as compared to Malcolm, the selection committee may believe that Tony will enable to control his team members effectively in different situations. Through this, the firm can re-establish the good relationship with the customers and achieve competitive advantages in the market (Soll, Milkman Payne, 2015). In the interview room, another bias will be related to the favoritism of candidate. From the case, it is found that due to acting as CEO by Tony for some time, the decisions of selection committee may become differ from the actual decisions. It will also increase the possibility of favoritism over the other candidate, Malcolm (Huffcutt, 2010). At the same time, this type of bias can be consider as the motivated bias because due to working on the position of CEO, the selection committee may strongly attach with Tony, which can be a big and one of the main reasons of bias during the interview that consequently affect the decisions of selection committee (Dunning, et al., 2003). But, at the same time, it is found that after sometime from the joining of Tony as CEO, the things were gone wrong. It also affected the position and image of Tony within the firm as he built before joining the job position of CEO in OZ Trading. It may bring bias in the interview and in front of the selection committee, which may differentiate the decision-making process of selection committee in the interview. But, on the other hand, it is found that in the organization, CEO is one of the responsible job positions, which needs to fulfill different duties and responsibilities. The person on this job position may face burden, which may affect their abilities and skills. It may also differentiate the skills of the person as compared to his counterpart (Dunning, et al., 2003). At the same time, there will be a confirmation bias in the interview room, which will be come from the selection committee side. In this bias, the selection committee can make hypothesis related to the performance of the candidates that was performed by them in previous (Powell, Hughes Scholes Sharman, 2012). In the case of OZ trading, the selection committee may collect the information of both the candidates and make a distinct opinion based on the information, which may influence the committees decision making process and generate bias in selection of appropriate candidate for the job of CEO (Brink Benschop, 2014). This type of bias will also reduce the chances for OZ trading and selection committee to recruit great candidate for the job position. At what time you set the Difficult Goals for your Job Position? What did you do to Achieve these Goals? This question will be helpful for the selection committee in terms of accessing the goal-oriented and result-driven abilities of the candidates. Along with this, through this question, the selection committee will also enable to access the efforts of candidates to handle and achieve the audacious goals while maintaining the good quality of work. Through this, the selection committee can also compare the effectiveness of both the candidates in terms of their motivation level to manage the teams in different situations. Describe me the Relationship that you have had with your Colleagues and Team Members. How would you describe the best one and the Worst? This question will be effective in identifying the attitude and behavior of candidates at the time of managing their teams and working with the colleagues within the organization. This question would also help in accessing whether the candidate would be happy, productive and well engage with the different teams. At the same time, the answer provided in response to this question would help in accessing the interaction skills and management style of candidates (Morgeson, Reider and Campion, 2005). As you have Experience of Different Fields, tell the Selection Committee how you feel you Would make a Contribution in the New Role? With the help of this question, the selection committee would enable to access the leadership skills and knowledge of candidates in order to work with the Canberra team and Ozs customers. It is because, through this question, the selection committee would identify the ideas of candidates to keep positive track of firms performance and to enhance the contribution of CEO to provide competitive advantages to the firm. Describe me one of the Biggest Disappointments of your Career to Date and your Learning from it? This question will help the selection committee to minimize the potential bias in terms of accessing the experience of candidates. Through this, the selection committee would also enable to force the candidates to admit their weaknesses and career disappointments. Through this, the committee would also compare the shortcomings of both the candidates and make effective decisions to select the right candidate. Describe your Communication Style at the Workplace with your Direct Reports, your Superiors, Customers and your Staff Broadly. This question would help the selection committee to access the leadership and communication style of candidates, which will also support in minimizing potential bias. It is because, through this, the selection committee may develop their decision on the basis of relationship of candidates with their staff, colleagues and superiors in the organization in order to contribute in the success of the firm. Along with this, this question would also be supportive in identifying the abilities of candidates to communicate the information to the employees to generate better outcomes and results. References Brink, M., Benschop, Y. (2014). Gender in academic networking: The role of gatekeepers in professorial recruitment. Journal of Management Studies, 51(3), 460-492. Dunning, D., Johnson, K., Ehrlinger, J., Kruger, J. (2003). Why people fail to recognize their own incompetence. Current Directions in Psychological Science, 12(3), 83-87. Huffcutt, A. I. (2010). From Science to Practice: Seven Principles for Conducting Employment Interviews. Applied H.R.M. Research, 12 (1), 121-136. Morgeson, F.P., Reider, M.H., and Campion, M.A. (2005). Selecting individuals in team settings: The importance of social skills, personality characteristics, and teamwork knowledge. Personnel Psychology, 58, 583-611. Powell, M. B., Hughes Scholes, C. H., Sharman, S. J. (2012). Skill in interviewing reduces confirmation bias. Journal of Investigative Psychology and Offender Profiling, 9(2), 126-134. Soll, J. B., Milkman, K. L., Payne, J. B. (2015). Outsmart your own biases. Harvard Business Review, 93(5), 65-71.

Media and Moral Panic free essay sample

Media is the main revenue of mass communication. The media plays a variety of roles in society; its main responsibility is that of providing information. As constant consumers and users of this information the relevance to the majority of members in the wider community inclusive of teachers and students is critical. The media positions us as the audience to take a particular viewpoint of a topic, issue or problem that is evident in our society. To what extent though does this role as information provider influence moral panic? Moral panic refers to the exaggerated social response to media coverage of a sporadic episode that consequently turns it into a widespread issue and causes colossal concern in society (Cohen, 1987). The media has a tendency to manipulate people by amplifying the facts and truths and using multiple camera techniques to surround a group/individual and outcast them in society, thus labeling them the ‘other’. We will write a custom essay sample on Media and Moral Panic or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Othering’ is closely linked to discrimination as it consists of the â€Å"objectification of another person or group† which puts aside and ignores the complexity and subjectivity of the individual/s. Teachers and students must construct their own knowledge about media coverage and understand that at times the media amplifies issues of concern by stereotyping and excluding particular members of society. A certain structure exists in society, if groups/individuals step outside of the boundaries, society categorises them as ‘others’ and excludes them from the majority. After this occurrence there are two options that exist; to either accept the exclusion or conform to societal norms and return to the inclusion. It is vital to understand the effect that bullying, discrimination and the mass media have on these groups/individuals and realise that some students in your classroom may fall under these categories. Therefore it is in our power as teachers, to inform and position students to be critically literate consumers of the media, to ensure they are able to bestow a critical perspective towards texts. Due to the fact that the media plays a massive role in students’ everyday lives in the 21st century it is vital that educators engage students in pedagogical experiences that teach them to become critically literate readers. Students could start by developing an understanding of the indicators of moral panic which are: 1. Concern – the issue is at a sensitive level and affects one’s feelings on a personal level. 2. Hostility – increased level of antagonism towards those involved in the threat or panic. 3. Consensus – a general agreement among society that a threat actually exists. . Disproportionality – the problem is exaggerated and amplified to create public concern. 5. Volatility – erupts suddenly and almost as quickly then subsides or disappears. (Goode amp; Ben-Yehuda, 1994). Developing an understanding of these indicators gives students a solid foundation to be able to critically analyse the texts they observe and hear to make an informed decision about the information they are receiving. Students must also have an understanding of the indicators of Disproportionality so they are able to critically analyse the texts they are viewing. They must be able to identify when figures are exaggerated, figures are fabricated altogether, where there are other harmful conditions in society but they are not getting mass coverage and the changes over time (Critcher, 2006). It can have a detrimental effect in students understanding if they are not presented the tools to be critical readers of texts. In conclusion, it is completely important and relevant to teachers and their students to have a critical understanding of the relationship between the media and moral panic because.