How do firms contribute to the efficiency of the market economy in ways that networks of independent contractors do not? Use your organization, or one with which you are familiar, to illustrate your response.
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- Which one of the following is a simple guide used to compile relevant information about a company's environment including economic, competitive, and political trends that may affect a firm? A) workforce requirement matrix B) environmental scan worksheet C) external resource system table D) potential globalization networkHow did covid-19 affect strategic management in supply chain management? Argue in favor of the above Convince the reader why your research is worth doing. note: not an essayREI operates more than 130 sporting goods and outdoor recreation stores in 34 states. How many of the four tests of the competitive power of a resource does the retail store network pass? Explain your answer.
- Identify how the changes in the internal environment affect the OM strategy for a company. For example, what impact are the following factors likely to have on OM strategy? The increased use of Local and Wide Area Networks (LANs and WANs) An increased emphasis on service The increased role of women in the workplace1.Which of the following was not listed as a typical bootstrapping technique?a. Coordinate procurement with other companiesb. Employ internsc. Reduce personal expendituresd. Purchasing rather than leasing facilities2.Which of the following was one of the most important intellectual property mistakes made by entrepreneurs?a. Not properly registering their internet domain namesb. Not using their intellectual property as part of their overall plan for successc. Not properly identifying all their intellectual propertyd. Not fully recognizing the value of their intellectual property3.Many entrepreneurs tackle the challenge of raising capital in a haphazard manner because:a. they are inexperienced in this area, and they are unsure of their options.b. they haven’t finished a feasibility study or a business plan yet.c. they are focused on the nuts and bolts of starting their business.d. they are cautious about raising money, and they haven't written a business plan.4.Typically, the seed money…Outsourcing is typically done in order to: All of these answers are correct To provide flexibility Save costs Allow the organization to focus on its core business
- Answer the following questions using the Answer Report and the Sensitivity Report on the following page. Support your answers with explanations and the work showed.Your run a company that produces three electrical products – clocks, radios, and toasters. You are asked to figure out how many of each of these things should be produced, and the computer solution (answer report and sensitivity report generated in Microsoft Excel) is given on the next page. 4.) If you could sell clocks for $17 instead of $15 would it change the number of each appliance you should produce (i.e., would it change the optimal solution)?5.) If you had your choice of an extra $10 in your budget or an added demand of 5 toasters, which one should you do, and how will your profit be affected?Clearly explain the concept of “make-or-buy” decision of a firm. Critically evaluate the costs and benefits of using the market, and how this concept is related to vertical integration? Give real-life example(s) to support your discussion whenever appropriate. 900 words min aproxWelcome, we’ll give you a couple more weeks to develop an action plan to deal with these problems. Monday, 10:30 a.m. Mike Cooney, Chief Financial Officer (CFO) Bring your perspective as a Total Rewards Manager as you read through the scenarios and analyze what to do. “We operate in a narrow niche market. We have to maintain a price advantage over the true custom manufacturers, or our customers will have no reason not to take advantage of the wider choices and individualized solutions. This means that efficiency of operations is our primary competitive advantage. If we lose that operating cost advantage, our business plan collapses like a house of cards. “We cannot produce at the incredibly low-cost level maintained by the mass market manufacturers. We would not get costs that low even if we mimicked their limited product lines and quality levels. We compete with them by creating styles and options that they don’t offer. Finding the balance between production costs and proliferation of…
- Describe Strategic Information Systems and Explain their Advantages? (300 words) Describe at least 5 strategies companies can use to achieve competitive advantage in their insdustry (300 words) Describe Porter's value chain model and its relationship to information technology (300 words)Understanding the effect of the external environment on firms is crucial for firm’s competitiveness. If you are running a multi-services business in Malaysia, anaylze the FIVE (5) major types of external forces that should be examined as part of an external audit? Give an example of each type of force.In practice, CRM is cited as having the following important advantage:‘thanks to CRM, we are able to institutionalize the relationship with customers’. What do you suppose is meant by this? Explain your answer by providing an example. Explain Briefly