The Value And Cost Benefits - 1840 Words

1. In Part 1, The Company, Red Jett Sweets lists six â€Å"Ingredients for Success† (p. 251). For each ingredient, designate it as either a cost benefit or as a value benefit and discuss your reason for your designations. Support your answer with concepts from the text covering value and cost benefits. The textbook describes a value benefit as a characteristic related to the nature of the product or service itself. Things like quality, fashion, and reputation are elements that give a product or service value in the eyes of the customer and a cost benefit refers to the ways by which a firm can keep costs low for the customer (Katz, J., Green, R. 2014 pg.195). Mobile Cupcakery is a cost benefit since the use of the food truck saves money by not incurring the expense for a brick and mortar store, and since the truck is mobile; it will also make the deliveries on route to its sales locations which eliminates the need for a separate delivery vehicle. Just Cupcakes is primarily a cost benefit, limiting Red Jett to a single product reduces inventory and the need for more equipment which would drive the cost of the cupcakes up. However this single product concept this can also be considered and value benefit by creating a clear brand identity. Top Quality is a value benefit, the use high-quality ingredients to make cupcakes from scratch gives consumers the appearance of a higher class product that is worth paying a premium for. Shipping is a value benefit not offered by manyShow MoreRelatedCost and Value of Offering Benefits to Domestic Partnership1631 Words   |  7 Pagesto Human Rights Campaign Work Net (2006) fringe benefits such as health and life insurance, a pension or profit-sharing has long been a way for employers to compensate their workers, and for one company to obtain a competitive edge over another. While most employers that offer benefits such as health insurance and dental care also make those benefits available to their employees spouses and legal dependents, the idea of extending such benefits to the domestic partner (DP) of unmarried employeesRead MoreThe Necessity Of Capital Expenditure Essay849 Words   |  4 Pageswe have seen last week, Soft Returns indirect benefits ROI can accurately work as indicators to measure intangible benefits, through the three steps: Identifying a process improvement opportunity, create a formula to calculate the benefits, and determine the costs of the process and the net benefits. This week, I am going to discuss with you The Justification of Capital Expenditure. In this subject, we are going to see the net present value and the profitability index that should be consideredRead MoreProject Scope1007 Words   |  5 PagesConstraints 7 10 Assumptions 7 11 Alternatives analysis 7 11.1 Evaluation Criteria 7 11.2 Alternative Descriptions 7 11.3 Alternative Evaluation 8 11.4 Recommendation 8 12 Cost Estimates 8 13 cost-benefit analysis 9 13.1 Cost Analysis 9 13.2 Benefit Analysis 10 13.3 Comparison of Costs and Benefits 14 14 Risks 15 15 Fund LImitations 16 16 Standards 16 Revision History |Date |Version |Description Read MoreCustomer Perceived Value905 Words   |  4 Pagesfirm that they see as offering the highest perceived value . Customer perceived value  (CPV)  is the difference between the prospective customer’s evaluation of all the  benefits  and  all the costs of an offering and the perceived alternatives. Total customer value  is the perceived monetary value of the bundle or economic, functional, and psychological benefits customers expect from a given market offering. Total customer cost  is the bundle of costs customers expect to incur in evaluating, obtainingRead MoreBusiness Analysis : Climate Design1057 Words   |  5 PagesCustomer Value and the Value Creation Process The first framework that I would like to focus on is customer value and the value creation process. What exactly is customer value? How can you define the value customers create? Referring to a simple formula; benefits – cost = customer value, assists in the comprehension of customer value and the importance of value creation in business strategies. This formula states that the cost of a good or service subtracted from the perceived benefits of the goodRead MoreCost Benefit Analytical Reviews For The New Health Care Insurance Package928 Words   |  4 PagesTo: Department Manager From: Nowayer Aldosari Date: October 18, 2015 Subject: Cost-Benefit Analytical Reviews for the New Health Care Insurance Package in Arapahoe County. Healthcare is expensive and Americans look for the best healthcare they can possibly get. Since consumers are always demanding for better insurance covers, employers are trying to provide the resources that have an effective prices and not raising costs. The Human Resources department in Arapahoe County has recently developed aRead MoreCase02 Piedmont1133 Words   |  5 Pageslife of 5 years. Using a discount rate of 8 percent, the net present value of all benefits is $1,732,836.16; the net present value of all costs is $1,640,384.79; the overall net present value is $92,451.36, and the project breaks even in approximately 3.84 years. Using a 10 percent discount rate, the net present value of all benefits is $1,645,201.46; the net present value of all costs is $1,576,173.19; the overall net present value is $69,028.27, and the project breaks even in approximately 4.04 yearsRead MoreGive Three Examples Of Business Needs For A System1277 Words   |  6 Pageswhat the system will do, and how the organization will benefit from the project which is more geared towards someone with business knowledge rather than technical knowledge. What is the difference between intangible value and tangible value? Give three examples of each. Tangible value can be quantified and measured easily. An intangible value results from an intuitive belief that the system provides important, but hard-to-measure, benefits to the organization. Tangible- better supplier prices,Read MoreCost Benefit Analysis1474 Words   |  6 PagesExplain the principles behind cost benefit analysis. Is the use of cost benefit analysis essential in the appraisal of public spending? Discuss this in the light of a transport capital expenditure project with which you are familiar. Cost–benefit analysis is often used by governments to evaluate the desirability of a given intervention. It is an analysis of the cost effectiveness of different alternatives in order to see whether the benefits outweigh the costs. The aim is to gauge the efficiencyRead MoreThe Ford Pinto1091 Words   |  5 PagesThe Ford Pinto Question 1 What moral issues does the Pinto case raise? ANS: The Pinto case raise the moral issues of what is the dollar value of the human life. That the businesses should not be putting a value on human life and disregard a known deadly danger. In order to perform a risk/benefit analysis, all costs and benefits must be expressed in some common measure. This measure is typically in dollars, as the Ford Motor Company used in its analysis. This can prove difficult for things that

Interpersonal Communication Essay - 1498 Words

Interpersonal communication is the most important kind of communication. It happens when two individuals are in a close proximity to each other, and they are able to provide immediate feedback to one another. IPC (interpersonal communication) is the way we express our thoughts, feelings, and ideas to the people around us. Interpersonal communication is something you need to do well as it affects many aspects of your life. Interpersonal communication is a learned skill that can be improved with knowledge and practice. What makes these skills necessary is that they allow you to express your thoughts, feelings, and any information quickly and orderly. These skills can help you understand someone, and can even help you make an†¦show more content†¦Also, when sending the message the sender should try to ask their question is a way that requires an answer. If they are able to make the listener respond they are more likely to do what the sender has asked them to do. Another way to send a clear message is to respect the individual that is being communicated with. If the sender is polite and respectful they are more likely to be respected in turn. The final step in the road to exemplary interpersonal communication is to affirm. Affirm means to inform the listener why your request or statement is so important to you. If the sender wants to have something done for them, people are more likely to be helpful and cooperative if the something in question has meaning and is not just a waste of their time. Interpersonal communication is used in every part of life. From the moment you wake up in the morning to the second you fall asleep at night, it is a guarantee you have used interpersonal communication in some way. IPC can be used in your workplace, no matter where you work. It can occur in your personal life. Interpersonal communication has even found an outlet in the most recently developed form of communication, the Internet. Using interpersonal communication when dealing with careers is staggeringly important. In the work force being intelligent isn’t enough anymore. If a person is unable to communicate well with their coworkers and the people charge of them, they will not beShow MoreRelatedInterpersonal Communication753 Words   |  4 PagesTitle Student’s Name COM200: Interpersonal Communication Instructor’s Name Date (Sample March 19, 2014) Introduction- Thesis Statement * If you’re having difficulties writing a thesis, use the thesis generator in the Ashford Writing Center - https://awc.ashford.edu/writing-tools-thesis-generator.html. Remember, a thesis should make a claim – a definitive statement – about some issue. 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In general, feedback is employed to deliver informationRead MoreInterpersonal Communication1292 Words   |  6 Pages | | | |Interpersonal Communication | | Read MoreThe Effects Of Interpersonal Competence On Interpersonal Communication1053 Words   |  5 PagesIntroduction Interpersonal competence is an aspect of communication that is rarely given attention despite being a crucial facet of human interaction. In fact, Beebe et al. argue that it is comparable to breathing for being do critical to human growth (2). According to Beebe et al., this aspect of communication is necessary to maintain relationships and to improve affairs between lovers (6-7). To enhance our competence in interpersonal communication, we need to learn and master ways of verbally relatingRead MoreCommunication : Understanding Interpersonal Communication1554 Words   |  7 PagesI. Introduction AND Thesis Statement Communication is the number one key in a relationship, especially when you re talking about marriage. I would like to take this moment to say congratulation on your recent marriage. I want to tell you that communication helps build a healthy personal foundation by implementing small talk in helping resolve conflicts through growth and helps reduce any barriers that prevent you from having a happy, successful marriage. Remember that no one is perfect at communicating

Management and Business Context Organization

Question: Discuss about the Management and Business Context Organization. Answer: Introduction The business context model should be explained as the mode of expressing the present business problem and define the scope of the project (Park et al., 2016). A business context is relevant in all the organizations surviving in the modern market place. The modern-day organizations need to alter their adaptation to the business context in order to fulfill the organizational goals (Saidani, Rolland Nurcan, 2015). The business context selected in this organization is- Innovation and Entrepreneurship. The business contextual factors are aimed at informing the organization regarding the present status and how it can be improved in the future. The systematic innovation is one of the integral components of management in the organizations (Anderson, Poto?nik Zhou, 2014). The organizations must be able to transform the organization and make it suitable for surviving in the competitive market (Park et al., 2016). The selected organization is Adidas. The report would discuss different concept s related to the subject of entrepreneurship and innovation. The impact of these factors on the organization would be assessed. The way these contextual factors impact the business functioning are discussed. Definition of Entrepreneurship The process of managing, designing, launching and functioning of a business entity for a definite motive is termed as entrepreneurship (Carland, Carland Stewart, 2015). It is concerned with the following components- Creation of an environment of mutual cooperation in which the different contextual factors are considered. Creation of good organizational culture that is enriching and beneficial Successful formulation of strategies that capture the different opportunities Focus on project scope, goals, assumptions and the specifications of the operations. Locus of control theory- Entrepreneurship The theory of locus of control specifies that there is particular degree of belief of an individual regarding the power of control, which is believed to lie in ones destiny. There are internal as well as external control of focus for the entrepreneurs (Hsiao, Lee Chen, 2016). The internal control factors believe in the principle that the business operations are a result of the internal business parameters evident in the organization (Park et al., 2016). The external business factors also influence the smooth functioning of business. However, this theory believes that the internal business factors have more strong influence than the external business factors. Definition of innovation The process of translation of a business idea regarding a product or service which is used for value creation and greater amount of sales is known as innovation (Aghion, Van Reenen Zingales, 2013). The idea must be implemented in an economical cost and the idea should meet the customer expectation. The process of innovation involves the following components- Judicious application of information Good use of imagination Grater initiative in deriving a greater value addition to the company Economical nature of the innovation Cost benefit analysis of the unique business idea Conversion of new ideas into products or services Application of Innovation and Entrepreneurship in organizations The innovation of business process can be defined as the procedure that allocates resources to new capacity so that there is revenue generation for the company (Turr, Urbano Peris-Ortiz, 2014). The entrepreneurship process is concerned with the successful implementation of innovation for creating competitive advantage in the market (Turr, Urbano Peris-Ortiz, 2014). The work of an entrepreneur is concerned with the innovation in the resource management and the innovation in the process management. The entrepreneurs are supposed to search for alternative sources of creativity in the organizational context (Turr, Urbano Peris-Ortiz, 2014). The entrepreneurial company focuses on the opportunity without compromising the crucial management problems. This often includes periodic evaluation and the analysis of the strengths of the competitors. Impact of innovation and entrepreneurship on Adidas Adidas is a multinational company which aims to provide best products to their target markets (Adidas-group.com, 2017). The company aims to provide the best quality of sports footwear to the athletes, who are their primary target market (Adidas-group.com, 2017). The company can use innovation and entrepreneurship to influence the customers so that there is a greater sale of their shoes. It can have different raw materials and alter their manufacturing process in order to increase the environmental footprint of the shoes. It should try to implement ideas that would increase the customer satisfaction as well as reduce the damage to the environment (Turr, Urbano Peris-Ortiz, 2014). For example, it can implement oil based plastic in their products which would help the company to reduce its carbon emissions. It can have greater use of technology to create unique products that meets the growing needs of the customer base (Turr, Urbano Peris-Ortiz, 2014). They should also focus on making unique changes in the organizational structure so as to increase the economic growth of the company. The entrepreneurs should be capable of influencing the organization in a positive manner (Turr, Urbano Peris-Ortiz, 2014). It should increase the operational efficiency of the company and increase the business survival of the organization. The introduction of innovation would increase the profit generation of the company and the organization would gain competitive advantage. The new society, new innovation and the new technology has resulted in greater performance in the organizations (Leonidou et al., 2015). There is a need of proactive and innovative in the organizational entrepreneurship. There are several stimulants of entrepreneurship and the organization must handle the environmental challenges. The form of entrepreneurship can occur in the form of services, products or business processes (Leonidou et al., 2015). It can also be concluded that the organizations need entrepreneurs to deal with the external environment challenges. Domestic and international contextual factors An organization is affected by both the domestic as well as international contextual factors. The domestic contextual factors are concerned with the strategies, goals, organizational culture, procurement of the materials and the availability of the raw materials (Yeniyurt, Henke Yalcinkaya, 2014). These factors are intrinsic in an organization and affect the functioning of an organization. The organizational culture is inclusive of the values, artefacts and the motivation of the employees. These factors are also responsible for increasing the productivity of the employees. These factors also influence the socialization of the organizational entities, which affect the functioning of the organization (Yeniyurt, Henke Yalcinkaya, 2014). The domestic contextual factors should be utilized fully by the organization so that there is an increase in the organizational productivity. The international contextual factors comprise of the economic factors such as inflation rate, recession, tax rate and others (Leonidou et al., 2015). There is also provision of the technological and the environmental factors. The technological factors may include the recent digitalization of the nation which affects the functioning of the company. The environmental factor comprises of the labor market, scientific communities, regulatory agencies, customers, competitors and others (Leonidou et al., 2015. These factors are important for the smooth functioning of the organization in the external market. Schumpeters innovation theory The theory of Schumpeter emphasizes on the structural changes as well as the historical process which have an effect on the wellbeing of the organization (Witell et al., 2015). The innovation theory focuses on five different categories of innovation which are often applied in the organization (Witell et al., 2015). The person who is aiming for gaining profits must know the right implementation of innovation in the business practices. Mr. Schumpeter labelled innovation as the process of industrial mutation in which the economic structure is believed to damage the old structure (Witell et al., 2015). He also argued that the change in the investment is a major cause for the increased innovation in business which often leads to business fluctuations. They are- Application of the new process of sales as well as production of goods Entry into new target markets which would prove lucrative for the company Acquisition of new sources of supply concerning the raw materials Formulation of unique products that fulfil the customer preferences The innovation, as conceived by Schumpeter, implies that there are changes in the process of transportation as well as production process (Witell et al., 2015). It is also concerned with the enhanced production capabilities, venturing into new markets and changes in the structure of the industrialized organizations. The meaning of innovation is not confined to new inventions; however, it is concerned with the application of new material, technology and the improved methods of production (Witell et al., 2015). Conclusion The business context determines the success factors of an organization. There are several business factors out of which the innovation and entrepreneurship is discussed in this unit. This report discussed the essential concepts of innovation such as their definition, relevant theories, international as well as domestic contextual factors, impact of innovation as well as entrepreneurship on Adidas and others. The report aims to implement the theoretical concepts into practical organizational for the clarity of understanding. The innovation is very important in the modern-day organizations for gaining competitive edge, which can be implemented through the process of entrepreneurship. This report would broaden the understanding of the different business contextual factors from an organizational perspective. References Adidas-group.com (2017).Adidas-group.com. Retrieved 14 January 2017, from https://www.adidas-group.com/ Aghion, P., Van Reenen, J., Zingales, L. (2013). Innovation and institutional ownership.The American Economic Review,103(1), 277-304. Anderson, N., Poto?nik, K., Zhou, J. (2014). Innovation and creativity in organizations a state-of-the-science review, prospective commentary, and guiding framework.Journal of Management,40(5), 1297-1333. Carland, J. C., Carland, J. W., Stewart, W. H. (2015). Seeing what's not there: The enigma of entrepreneurship.Journal of small business strategy,7(1), 1-20. Hsiao, C., Lee, Y. H., Chen, H. H. (2016). The effects of internal locus of control on entrepreneurship: the mediating mechanisms of social capital and human capital.The International Journal of Human Resource Management,27(11), 1158-1172. Lambert, S. C., Davidson, R. A. (2013). Applications of the business model in studies of enterprise success, innovation and classification: An analysis of empirical research from 1996 to 2010.European Management Journal,31(6), 668-681. Leonidou, L. C., Fotiadis, T. A., Christodoulides, P., Spyropoulou, S., Katsikeas, C. S. (2015). Environmentally friendly export business strategy: Its determinants and effects on competitive advantage and performance.International Business Review,24(5), 798-811. Park, C., Miller, K., Evans, S., Bamford, I. (2016). Refitting agile business model innovation to an incumbent company context: UK industry-academic collaboration case. Saidani, O., Rolland, C., Nurcan, S. (2015, January). Towards a generic context model for BPM. InSystem Sciences (HICSS), 2015 48th Hawaii International Conference on(pp. 4120-4129). IEEE. Turr, A., Urbano, D., Peris-Ortiz, M. (2014). Culture and innovation: The moderating effect of cultural values on corporate entrepreneurship.Technological Forecasting and Social Change,88, 360-369. Witell, L., Anderson, L., Brodie, R. J., Colurcio, M., Edvardsson, B., Kristensson, P., ... Wallin Andreassen, T. (2015). Exploring dualities of service innovation: implications for service research.Journal of Services Marketing,29(6/7), 436-441. Yeniyurt, S., Henke Jr, J. W., Yalcinkaya, G. (2014). A longitudinal analysis of supplier involvement in buyers new product development: working relations, inter-dependence, co-innovation, and performance outcomes.Journal of the Academy of Marketing Science,42(3), 291-308.