Question

In a 750 word paper with a minimum of two references, research and discuss the application of the Production Function concept within either your current business or one with which you are familiar. How does the company determine the rates of production which are the most efficient and the least cost? What method(s) do they use?

Answer 1

In any business organization, the mission and vision of the managers play a salient role in the success of such business. For entrepreneurs, it is important that they come up with a strategy that will aid them in meeting the goals of their business. A mission is defined as a statement that expounds on the reasons for the existence of an organization and the role it should play to its shareholders (Mornah, & McDermott, 2016).

       As an entrepreneur, my business plan is to distribute the spare parts of vehicles to other countries and my country. The name of the business is “Voger Hardware.” The business will operate both domestically and internationally. Therefore, the principal aim of this essay is to expound on the values and mission of the business. Additionally, it will also expound on how the values of the business are aligned with the ethics, values of the business, business strategies, personal brand identity and solving problems in the business (Mornah, & McDermott, 2016). It will also expound on the marketing plan and the challenges that the business is likely to encounter. Ideally, it will explore the mitigation plans that will be used to curb the challenges.

THE ORGANIZATION MISSION, VISION, AND VALUES

The Vision Statement

The mission of Voger hardware is to become the most excellent firm in the hardware segment. To build a place where the customers will purchase the most quality and affordable hardware products.

The mission statement

We are a highly dedicated organization that values responsibility, creativity, and innovation.

The values of the organization

        Values are defined as the most important attributes that are used in identifying an organization (Mornah, & McDermott, 2016). The following are the values that will guide the Voger Hardware organization;

• To contribute in a positive way to the environment.
• To satisfy the customers in all ways.
• Provision of safe and quality products
• Come up with a corporate culture that values both teamwork and individual development.
• To be profitable while distributing the products at the affordable prices.

HOW THE VALUES WILL BE ALIGNED TO BRAND IDENTITY, ETHICS, PLANNING STRATEGIES AND SOLVING PROBLEMS

        It is important that the values of an organization align with ethics, planned strategies, and problem-solving in an organization. As stated in the values of the organization, one of the principal value is to contribute positively to the environment. Owing to the prevalent market conditions, engaging in ethical practices in an organization is beneficial in attracting and maintaining the loyalty of the customers (Phillips, McQuarrie & Griffin, 2014). Since Voger Hardware organization will provide safe products and contribute positively towards maintaining the environment, then the business will adhere to the ethical standards. Besides, the brand identity will be enhanced by the satisfaction of the customers. When customers are satisfied with the products that are offered by a given organization, they are likely to maintain their loyalty towards the brand and pass information to other people on the existence of the organization. As such, the identity of the brand will be enhanced. Satisfying of customers as a value of Voger Hardware organization will significantly enhance the identity of the brand. Additionally, valuing of teamwork will contribute significantly to the implementation of the planning strategies. Principally, teamwork foster relationships within an organization since each member contributes significantly to generating ideas in an organization (Uggla, 2015). For this reason, the planning strategies are easily implemented.

       One of the problems that is likely to face the Voger Hardware organization is the financial challenge and stiff competition from the competitors. Typically, financial challenges arise when an organization incurs sub sequential losses making it difficult to meet its debt (Uggla, 2015). However, Voger Hardware will solve this problem since it values profitability and offering of quality products to the customers. Essentially, when the quality of the products produced is high, then the customers will demand more of the products. This will translate to a lot of sales thus increasing the revenues of the organization. Production of quality products will also aid in dealing with the problem of competition. Ideally, consumers tend to purchase products from an organization that values quality.

ELEMENTS OF THE MARKETING PLAN THAT WILL AID IN THE SUCCESS OF THE BUSINESS

        The success of any business is primarily dependent on the degree in which the business utilizes the marketing elements (Datta, Ailawadi, & van Heerde, 2017). Principally, there are four marketing elements. These include; the place, product promotion, and place (Méndez Suárez, M., & Estevez, 2016). The two elements that the Voger Hardware organization will give prior consideration include promotion and pricing. Despite the fact that Voger Hardware business will aim towards making profits, it will structure the price of its products in such a way that they will be lower than those of the competitor products. As such, it will carry out analysis to ascertain the prices that the customers will be comfortably willing to pay for the products.

       Promotion is used to refer to the techniques that are deployed in making the targeted customers aware of the products and appealing to them to make purchases from the organization (Datta, Ailawadi, & van Heerde, 2017). Voger Hardware organization will embrace the use of various techniques in promoting its products. Among the promotion techniques swill include the use of social media tools in which the organization will create its page where the members will be viewing the offered products, the use of the television, print publications and internet advertising. These techniques will enable the organization to align with its business values since they are not costly hence the business will not incur a loss. Additionally, they will aid in meeting a large audience hence enhancing the identity of the brand and the sales made by the business.

THE ROLE OF THE DEPARTMENTS IN COORDINATING THE ORGANIZATION FUNCTIONS

The Sales Department

      The sales department will play an integral role in coordinating the business functions. In the first case, it is through the sales department that the products of an organization are distributed to the targeted customers (Mornah, & McDermott, 2016). The sales department of Voger Hardware will be tasked with the responsibility of offering advisory services to the marketing department. This will aid in driving sales and enhance the customer contact. Distribution, pricing and product planning responsibilities will also be carried by the sales department of the organization.

The customer service department

      The customer service department is tasked with the responsibility of offering directions and services to the customers. It is the department that will aid in making sure that the customers are motivated and that they are satisfied and happy with the services offered by the company.

THE IMPACT OF CULTURE ON DOMESTIC MARKETING STRATEGIES VERSUS INTERNATIONAL STRATEGIES

      Culture is defined as the values, beliefs and behavior patterns of a particular group. Culture has an impact on both the domestic and international marketing strategies. However, the impact varies since the operations in both the international and domestic markets are not similar. Culture will have an impact on the marketing of the company’s product internationally (Mornah, & McDermott, 2016). This is because it will need to adjust to both the political, religion and social beliefs of the trading countries. Because the norms are used to determine the perceptions of people, the business will be forced to familiarize with the culture of the trading countries to ensure that it delivers the products in a way that makes the customers to perceive them positively (Mornah, & McDermott, 2016). It is therefore salient for the business to get an in-depth understanding of the cultural dimension of the countries within which it is trading with.