This is a method used in North America for the classification of the industries. This code is mostly a four digit code. For an external analysis, it is essential to find the industry in which the company operates in and…
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The link below is an example of the clothing industry:
Michael Porter has devised a framework which provides a better understanding of the industry and how companies can be affected by forces within the markets. The five forces that he has described are: a) Threat of new entrants, b) Determinant of buying power, c) Threat of substitutes, d) Determinants of supplier power, and e) Rivalry among the firms. This allows a focused and better analysis of the external factors of the industry.
a) Themanager.org: This website provides a clear explanation of the Porter’s Five Force model and gives a deep and clear understanding of each and every point of the analysis. This can be retrieved from the following website: http://www.themanager.org/Models/p5f.htm. This site is more detailed and helps understand the topic in a deeper manner.
b) Marketing Teacher.com: This website provides students with all the concepts of marketing and helps business students to a great extent as it allows a simple explanation of all the topics making it simpler for all students. This can be accessed from the following link: http://www.marketingteacher.com/Lessons/lesson_fivefoces.htm. This website is very simple and to the point form of explanation of the topic.
This analysis is to provide for a better understanding of the major external elements that affect the performance of a company. This highlights the major elements like the political, economical, social and also the technological factors that can cause any affect to the company’s performance.
a) NetMBA.com: Similar to the marketing teacher website, this website also provides business students with a chance to learn the concepts in a simple and straight forward manner. The language is simple and the explanation is very helpful to deepen the knowledge of the topic. The website can be retrieved from http://www.netmba.com/strategy/pest/.
b) QuickMBA: The second reference that can be
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Following declining sales and reducing profits, Qantas Airlines, an Australian airline, is probing the possibilities of an Asian hub that it intends to operate from, to extensively cover the Asian nations. It has hitherto been neglecting the Asian nations and concentrating on the European Nations but to cover the loss from its domestic and international operations, the airline has now been forced to look beyond.
The company focuses a great deal on the training and development of the employees and ensures that this is an ongoing part of the life of the employees. The performance of the employees, known as ‘associates’ at WalMart, is given prime importance, and this is one of the largest strengths of WalMart’s performance management system.
1971, the company today is one of the most universally recognized brand names and has diversified in to a host of entertainment related businesses including casinos and hotels as well as being in the forefront of the rock music industry with sponsoring and hosting concerts and
Since then with the efforts and strong strategies the company has come to become the world’s largest retailers. Wal – Mart currently stands on the top of the list of the Fortune 500 companies (CNN Money, 2008).
The company has been able
Extraverted, Intuitive, Feeling and Judging. The results to some extent are very true. I however got a surprise when the character of the ENFJ people portrays, being manipulative of others with the excellent interpersonal skills and the unique salesmanship. This
The Coca-Cola Company stops its employees to say anything bad about the company in front of media. Although, employees are ambassadors of the company and should praise the company, but stripping them of their basic fundamental
According to the report the human resources team is very effective in choosing the right people for the job, however in terms of the management of the employees there is a clear lack on the part of the team. The HR teams are meant to focus on the needs of the employees and to provide the employees with the necessities to keep them motivated.
Moreover, the company also needs to follow the general food laws as well. If all these food laws are not obeyed by the company, they could not continue the business operations in the market for long run. In addition, to Food Hygiene Regulations Act of 2006, the
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