Source Evaluation Essay Example | Topics and Well Written Essays - 750 words - 6

Source Evaluation - Essay Example Essentials of Strategic Management is a comprehensive summary of the book Strategic Management: An Integrated Approach written by the same authors. The book follows a structure that is also used in the larger version in order to assist learners in the identification and the emphasis of key concepts in more concise and updated ways. The presentation of text in this book is founded on real world practices as well as contemporary thinking and features an increased importance on the concept of business models as a manner of perceiving the issues of competitive advantage. The book also features progressive research, a newer strategic management theory as well as a hand-on approach that allows the reader to explore the main themes in management such as corporate performance, technology as well as business ethics among others. Additionally, it also it also includes a high quality case program that examines companies of different sizes domestically and globally so that readers may achieve an experience as they put chapter concepts into practical events in a number of occurrences. Charles Hill and Gareth Jones consider Wal-Mart’s business model as being based on purchasing goods from suppliers at the lowest rates possible and then reselling the same products to its customers at profitable prices that are as low as possible (120). The company has come up with strategies that have enabled it to position in a manner that keeps operating costs at the minimum in order to ensure that customers get the lowest prices on a daily basis with continuous price rollbacks. From inception, the company has been using strategies that increase its efficiency in various ways including ensuring low product differentiation as well as targeting mass markets. Wal-Mart’s business model that is based on discounts for its retail customers is founded on the idea that low costs will result in lower prices. After identify ways of

Participation Questions Essay Example | Topics and Well Written Essays - 500 words

Participation Questions - Essay Example In order to perform E-business a company must educate themselves on the different business regulations that affect their particular industry. Due to the fact that e-commerce takes places across national boundaries a company must be aware of the exchange rate conversions in order to establish a pricing policing that considers the relative value of a currency. A business enterprise that incorporates a lot of the characteristics you mention of an efficient supply chain is Walt-Mart. The company achieves economies of scale by purchasing in bulk. They also have superior logistics and distribution system. A study performed by John Mentzer on the supply chain management practices of hundreds of companies revealed that companies can gain a competitive advantage by leveraging the management of their supply chains (Mentzer, 2007). I like your idea of designing products through the use of independent modules. This approach is simple and follows a sound production methodology similar to lean manufacturing. Your answer to the postponement strategy question was very insightful. Eliminating customization in the front end of the cycle can help a company achieve inventory savings. Mentzer, J. (2007). Achieving Competitive Advantage Through Supply Chain Management. IndustryWeek. Retrieved September 4, 2009 from http://www.industryweek.com/articles/achieving_competitive_advantage_through_supply_chain_management_13355.aspx Your recommendation of partnering with technologically savvy suppliers is outstanding. The internet, wireless technology, and advances in information technology can enhance the functionality of the supplier chain. Wireless applications such as radio frequency identification tags have gain a lot of popularity among supplier chain managers. In 2007 the RFID market was valued at $4.9 billion (Das & Harrop, 2008). As you mentioned flexibility is also an important characteristic in a