Describe the difference between a competitor and complementor and identify the role complementors play in an industry.
In: Operations Management
KNIGHTS ENGINES INC.
The government has recently invited submissions from the private sector for the supply of one thousand V-16Z (Class A) automobile engines. Although these particular engines only have eight cylinders, they can easily duplicate the speed and performance of a sixteen cylinder engine. Their compact size and durability make them ideal for military operations and it is for this reason that the military has decided to incorporate them into their new line of All Terrain Vehicles (ATVs). For reasons that cannot be exposed without jeopardizing national security, the engines must be delivered within 60 days.
Knight Engines Inc. has been involved in the manufacture of a wide variety of engines for nearly five years. Although Knight has managed to turn a healthy profit every year, sales for its V-16Z engines have been lagging somewhat. It is for this reason that Knight is quite excited by the government's request for V-16Z engines. Knight has dealt with the government before and their established reputation would certainly be a bonus in their favor if another company were to submit an equally low bid. There is, however, one problem: Although Knight does have the capacity to build one thousand V-16Z automobile engines, they do not have the pistons required to make the Class A engines. Their regular piston supplier only manufactures inferior Class C pistons, which would be unacceptable to the government. Since one thousand engines are to be produced, eight thousand Class A pistons are required. If the Class A pistons could be acquired within two weeks, the two-month government deadline could be met.
Knight made inquiries at several companies and only one showed any interest in supplying Knight with all the Class A pistons that it needs on such short notice. The Excalibur Engine Parts Company stated that it would be possible to process such a rush order but that it would do so only on two conditions: First, that the chassis of any engine constructed with their pistons clearly states that it is fitted with Excalibur brand pistons. Second, that a 5% mark-up be applied due to the extra costs of processing such an order on short notice.
Although the technical aspect of fitting these pistons into the engines presents no problems, the people in manufacturing are rather concerned about using a new type of piston from a company with which Knight has no previous experience. They stated that on the average, about 3 to 4% of the Class C pistons ordered in the past (from other suppliers) contained various structural flaws that rendered them unusable. There is no reason to believe that the Class A pistons should fare any differently. It is therefore essential that Excalibur provide some sort of guarantee in order to ensure that Knight does not have to pay for defective pistons. Even with such a guarantee, the inevitable delays for the delivery of a replacement could hinder Knight's ability to complete its engines before the government deadline. In order to cushion against such a problem, it might be advisable to order extra pistons. Ideally, Excalibur would agree to take back all unused pistons as part of a guarantee package.
You are Knight's Director of Purchasing and it is your responsibility to negotiate a contract with Excalibur for their Class A pistons, the Series 2.1 Intensaflux pistons. Since the price paid for the piston will raise the overall cost of the engine and therefore affect the bid submitted to the government, it is paramount that the lowest possible price be paid. In order to strike a good deal, you must pay careful attention to the following points:
Questions:
In: Operations Management
what is the change in demand and supply for housing market during covid19?
In: Operations Management
Skyblue Pty Ltd is a large private company that manufactures special reinforced concrete and other products used in the construction of airport runways and heavy use motor vehicle freeways. During the course of the audit for the year ended 30 June 2020, the government announced that it intends to scrap its proposed third runway project. You know that Skyblue Pty Ltd’s projections include a major share of the work expected to flow from this project.
The company has been experiencing some cash flow difficulties, although this is not unusual in the industry. Management has recently fully extended their overdraft facility in order to pay day-to-day expenses such as wages and salaries. The audit partner is concerned that the company may be facing going concern problems, but the managing director maintains that future capital expenditure can be cut back to alleviate the going concern issue. In addition, surplus assets can be sold to the growing Asian market and long-term debt can be rescheduled if necessary.
Required:
(a) Give examples of three other possible mitigating factors that have not yet been mentioned.
(b) What evidence should you obtain with respect to management’s representation about the various mitigating factors presented in question 6 and identified in part (a) above? (
(c) The engagement partner has decided to qualify the financial report on the basis of uncertainty as to going concern. However, the managing director argues that, as the company is privately held and all the shareholders are involved in the business, going concern problems should not be viewed as seriously as if the company was publicly listed and, therefore, an unqualified report should be signed. How would you respond to the managing director’s comments?
(d) What would be the impact on the audit of a comfort letter from a related company promising to provide financial support in the event that Skyblue Pty Ltd was unable to meet its debts?
In: Operations Management
In: Operations Management
Write a brief report (2 pages) on the ethical problems faced by marketing researchers. What actions can be taken to reduce the ethical problems faced by marketing researchers?
In: Operations Management
List and describe five impediments to local participation in tourism planning.
In: Operations Management
Read the case below and answer the questions that follow. P&G's Joy Makes an Unlikely Splash in Japan Anyone who thinks Japan doesn't offer opportunities for U.S consumer products should look at how quickly Procter & Gamble Co. has cleaned up in the country's dish-soap market. Until 1995, P&G, didn't sell dish soap in Japan at all. A few years later, it had Japans best-selling brand, Joy, which commanded a fifth of the nation's $400 million dish- soap market. That's astounding progress, given that the market had appeared to be classically "mature"-both shrinking and dominated by giant Japanese companies. "Joy surprised us all," says Tatsuo Ishii, dish-soap brand manager for one of those giants, Kao Corp. "It was brilliant." How the Cincinnati company executed its coup provides lessons that transcend the kitchen sink. One big lesson: "Mature" Japanese markets can be surprisingly complacent. P&G offered new technology, something the two incumbents hadn't bothered to do for years. It developed packaging that let stores make more money. And it spent heavily on oddball commercials that created a buzz among consumers. Joy offers "potent lessons" for foreign companies, says Hiroshi Tanaka, a marketing professor at Tokyo's Josai University. "At the least, Joy should tell you that Japan's got a lot more good opportunities for foreign companies than they might assume," he says. "Those opportunities are often disguised as unattractive markets suffering from saturation and oligopoly." Just two years ago, two powerful consumer-product concerns, Kao and Lion Corp., each controlled nearly 40% of the kitchen-soap market with several brands and had essentially declared a truce. The rest of the market was cornered by private brands at chain stores. Meanwhile, the Japanese were cooking less at home and thus buying less dish soap every year. P&G actually washed out of the Japanese kitchen detergent market during an earlier attempt. It withdrew in the late 1970s after failing to make a dent with Orange Joy, a product that it transplanted from the U.S. But by 1992, it had succeeded in marketing other products, such as Pampers, in Japan. The home office told its Japanese unit to find new markets for products in which P&G was strong elsewhere in the world. So that year P&G sent out researchers to study Japanese dish-washing rituals. They discovered one odd habit: Japanese homemakers, one after another, squirted out more detergent than needed. It was "a clear sign of frustration" with existing Japanese products, says Robert A. McDonald, head of P&G's Japanese operations. He saw the research as a sign that an "unarticulated consumer need" was more powerful soap. "We knew we had something to go after," he says.' Some P&G executives wert: concerned about entering such a mature market, says Mr. McDonald. But P&G's lab in Kobe went to work to create a highly concentrated soap formula, based on a new technology developed by the company's scientists in Europe, specifically for Japan. The first hint that Joy was a hit carne in March 1995 in the region around Hiroshima, 400 miles west of Tokyo, where P&G started test-marketing it. Four weeks into the test, Joy had become the most popular dish soap in the region with a 30% market share. P&G's marketing pitch was deceptively simple: A little bit of Joy cleans better, yet it's easier on the hands. The message hit a chord, says Ayumi Osaki, a 31-year-old homemaker who rushed off to buy Joy after seeing pilot commercials. "Grease on Tupperware, that's the toughest thing to wash off," says Ms. Osaki, a mother of three in Hiroshima. "I had to try it." Emboldened, P&G finished a nationwide introduction in March 1996, when Joy had attained a 10% market share, Three months later it had a 15% share. A year later it had 18%, and now its share is up to 20%, according to industry statistics, The results astounded even P&G. "Everybody in Japan wanted it," says P&G's Mr, McDonald. "Every retailer in Japan wanted to get his hands on Joy." Retailers clamored for Joy because P&G had built in "fat margins," explains Masaharu Kubo, a buyer for Daiei Inc" which operates 383 supermarkets in Japan, P&G had exploited a weakness in the Japanese giants' products. Their long-necked bottles wasted space, P&G's containers were compact cylinders that took less space in stores, warehouses and delivery trucks, Joy improved the efficiency of Daiei's distribution by about 40%, Kubo estimates, "Before Joy, dish soap was a sleepy category; [the containers] were bulky and took up a lot of shelf space, and their unit prices were falling every year," he says, "Joy freed up a lot of space for other products, pushed up prices of dish soaps as a whole, and gave us bigger margins, It was revolutionary." P&G's advertising binge also delighted retailers, Kubo says. To look for ideas, P&G marketers had watched more than a hundred commercials from around the world from P&G and its rivals. They settled on a documentary-style TV ad used in Britain by P&G for a laundry soap called Daz. P&G's advertising agency, Dentsu Inc. created commercials in which a famous comedian dropped in on homemakers, unannounced, with a camera crew to test Joy on the household's dirty dishes. The camera homed in on a patch of oil in a pan full If water, Then, after a drop of Joy, the oil dramatically disappeared. Japanese soap makers were alarmed by the campaign. Kao's Mr. Ishii says he ordered up research into Joy and concluded that more than 70% of Joy users began using it because of the commercials. "We had mistakenly assumed Japanese didn’t care much about grease-fighting power In dish soaps.” Mr. Ishii says. “The reality was people are eating more meat and fried food and are frustrated about grease stains on their plastic dishes and storage containers." Kao and Lion are now playing catch-up, turning out products that unabashedly mimic Joy, from its package and color (green) to its grease-fighting Technology. Successes like Joy have given P&G a change of heart about Japan, "For a long time, P&,G's approach was to dump in Japan what sells in the U.S.,” says a P&G manager who declined to be named. Now, he says, P&G generates ideas in Japan that it uses in other markets. It has begun selling Joy, for example, in the Philippines and is considering it for other Asian markets, It has also started to use a leak-free cap in the U. S. that it designed for Joy in Japan. The Japanese consumer is “among the world’s most educated and the most perceptive and articulate evaluators,: says P&G’s Mr. McDonald. “I’ve worked in a lot of countries but never been anywhere else where I can have a scientific discussion with the consumer like I can do here about dish soap.
Case Questions
1. What lessons can international marketers learn from Procter & Gamble’s experiences in Japan?
2. Identify and describe the roles of product policy, pricing, promotion and distribution in marketing Joy in Japan.
3. What lessons from Japan might benefit Procter & Gamble in other markets?
In: Operations Management
In: Operations Management
Part 1: Identifying the Customer and Problem for Youth Non for Profit
Describe a primary decision maker in your target segment: who they are, what they like, how they make buying decisions. Describe the primary problem(s) your organization, product or service will help them solve.
Part 2: Factors Influencing Customer Decisions
Provide a brief profile of your target segment using at least three of the following categories:
Part 3: Reaching the Customer
Based on this profile, identify 2–3 marketing strategies or tactics you believe would be effective at reaching this target segment, and briefly explain why they are a good fit. Please type reply handwritten is hard read
In: Operations Management
Describe partnerships and collaboration relative to the tourism industry.
In: Operations Management
Megan owns a manufacturing business in a nonattainment area under federal air pollution law. She wishes to triple the size of the manufacturing operation using land she just purchased next to her current location. What must Megan demonstrate in order to secure a permit to operate in the nonattainment area?
In: Operations Management
Able and Baker desire to combine their mutual assets in order to go into the trucking
business. Able has three (3) trucks worth $50,000. Baker is willing to pay $50,000 cash.
They each would like to own and control 50% of the business. Also, there is Gary who
wished to invest in the business but only the sum of $2,500. Gary only wants to be
exposed for the loss of his $2,500. Able and Baker cannot decide the form in which they
should operate their business and also they are undecided as to what form to use if Gary
is to participate.
A. If Able and Baker operate without Gary, what forms of organizations are
available to them and explain the advantages and disadvantages of each form.
B. Assume the above business is in New Jersey, what forms of organizations are
available to them if they wish to take Gary into the business on his terms.
In: Operations Management
Write an essay discuss these questions NO LESS THEN 700 WORDS
What are external relations?
What are some examples of foreign policy?
What is the role of aid in development?
In: Operations Management
You are in Canada and you are responsible for securing the hospitals supply to protect against infection by COVID-19. Write down your strategy for that from an operations management point of view
In: Operations Management