Apple

The production concept is a useful philosophy in two types of situation. The first occurs when the demand for a product exceeds the supply. Here, management should look for ways to increase production. The second situation occurs when the product’s cost is too high and improved productivity is needed to bring it down. 2. The Product Concept The product concept holds that consumers will favor products that offer the most quality, performance and innovative features, and that an organization should thus devote energy to making continuous product improvements. Some manufacturers believe that if they can build a better mousetrap, the world will beat a path to their door. . The Selling Concept The selling concept holds that consumers will not buy enough of the organization’s products unless it undertakes a large-scale selling and promotion effort. The concept is typically practiced with unsought floods – those that buyers do not normally think of buying, such as encyclopedias and funeral plots. These industries must be good at tracking down prospects and convincing them of product benefits. The selling co ncept is also practiced in the non-profit area. A political party, for example, will vigorously sell its candidate to voters as a fantastic person for the job. The candidate works hard at selling him or herself – shaking hands, kissing babies, meeting donors and making speeches. Much money also has to be spent on radio and television advertising, posters and mailings. 4. Marketing Concept The marketing concept holds that achieving organizational goals depends on determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors do. Also Case Study will describe why Apple Inc. is a very successful company. Surprisingly, this concept is a relatively recent business philosophy. The marketing concept takes an outside-in perspective. It starts with a well-defined market, focuses on customer needs, co-ordinates all the marketing activities affecting customers and makes profits by creating long-term customer relationships based on customer value and satisfaction. Under the marketing concept, companies produce what the consumer wants, thereby satisfying the consumer and making profits. . Societal Marketing Concept The societal marketing concept holds that the organization should determine the needs, wants and interests of target markets. It should then deliver the desired satisfactions more effectively and efficiently than competitors in a way that maintains or improves the consumer’s and the society’s well being. The societal marketing concept is the newest of the five marketing management philosophies. Which orientation do you believe Apple follows when marketing products such as the iPhone and iPad? For most, safest answer will be, â€Å"The Apple Company follows all the marketing orientations, and that’s what made them very successful. † That somehow is true. But particularly speaking, I believe that the Apple Company focuses more on, The Marketing Concept, producing a very innovative, efficient, worthy, and consumer-satisfying product- such as the iPhone and iPad. The price of an Apple product may not be very affordable to everyone, but for whatever price you invest to an Apple product, it’s worth the value. Even though the products don’t go through a lot of promotions and special prices, people sold out Apple products, and most of the time, the company leaves the people asking for more. Apple knows which products to produce, and most especially what will make its’ competitors anxious and disturbed. Apple is with no doubt a big competition in the global industry. Apple Apple The production concept is a useful philosophy in two types of situation. The first occurs when the demand for a product exceeds the supply. Here, management should look for ways to increase production. The second situation occurs when the product’s cost is too high and improved productivity is needed to bring it down. 2. The Product Concept The product concept holds that consumers will favor products that offer the most quality, performance and innovative features, and that an organization should thus devote energy to making continuous product improvements. Some manufacturers believe that if they can build a better mousetrap, the world will beat a path to their door. . The Selling Concept The selling concept holds that consumers will not buy enough of the organization’s products unless it undertakes a large-scale selling and promotion effort. The concept is typically practiced with unsought floods – those that buyers do not normally think of buying, such as encyclopedias and funeral plots. These industries must be good at tracking down prospects and convincing them of product benefits. The selling co ncept is also practiced in the non-profit area. A political party, for example, will vigorously sell its candidate to voters as a fantastic person for the job. The candidate works hard at selling him or herself – shaking hands, kissing babies, meeting donors and making speeches. Much money also has to be spent on radio and television advertising, posters and mailings. 4. Marketing Concept The marketing concept holds that achieving organizational goals depends on determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors do. Also Case Study will describe why Apple Inc. is a very successful company. Surprisingly, this concept is a relatively recent business philosophy. The marketing concept takes an outside-in perspective. It starts with a well-defined market, focuses on customer needs, co-ordinates all the marketing activities affecting customers and makes profits by creating long-term customer relationships based on customer value and satisfaction. Under the marketing concept, companies produce what the consumer wants, thereby satisfying the consumer and making profits. . Societal Marketing Concept The societal marketing concept holds that the organization should determine the needs, wants and interests of target markets. It should then deliver the desired satisfactions more effectively and efficiently than competitors in a way that maintains or improves the consumer’s and the society’s well being. The societal marketing concept is the newest of the five marketing management philosophies. Which orientation do you believe Apple follows when marketing products such as the iPhone and iPad? For most, safest answer will be, â€Å"The Apple Company follows all the marketing orientations, and that’s what made them very successful. † That somehow is true. But particularly speaking, I believe that the Apple Company focuses more on, The Marketing Concept, producing a very innovative, efficient, worthy, and consumer-satisfying product- such as the iPhone and iPad. The price of an Apple product may not be very affordable to everyone, but for whatever price you invest to an Apple product, it’s worth the value. Even though the products don’t go through a lot of promotions and special prices, people sold out Apple products, and most of the time, the company leaves the people asking for more. Apple knows which products to produce, and most especially what will make its’ competitors anxious and disturbed. Apple is with no doubt a big competition in the global industry. Apple Apple

Talent Management Strategy Essay Example | Topics and Well Written Essays - 1750 words

Talent Management Strategy - Essay Example Israelite (2010) defines talent management strategy as the process which ensures that an organization has the right and competent people for particular jobs at the right time in order to achieve organizational goals and objectives. This strategy includes the processes of induction, performance management, career planning, compensation management, succession planning processes, assessment, goal-setting, and recruitment. These processes are aimed at retaining employees and fostering their continuing development of competencies and skills to achieve the short term organizational goals and long-term strategic objectives (Armstrong, 2007). This paper has envisioned a nonprofit organization with two hundred people, in which twenty are identified leaders. Based on this, the paper will devise a talent management strategy concentrating on the entire talent needs of the organization. The paper will also define the principal components of talent management and examine how the process of talent management provides a competitive advantage for an organization. Finally, it will assess the need for a talent management strategy to change with the anticipation of the organization doubling in five to six years. ... Also, this step of formulating talent management strategy will seek to answer questions regarding the organization’s current and desired states, as well as the organization’s culture. In answer these questions, an understanding shall be sought regarding its mission statement, vision, organization statement, strategy, corporate values, and balanced scorecard as well as how these goals and statements cascade through the organization’s units, departments, and divisions. It will also be critical to understand which roles and skills are required to support improved organization’s performance and encourage creativity and which criteria the organization can employ to identify both underachievers and high performers and to measure performance (Israelite, 2010). Based on the information obtained by analyzing these aspects, a decision should then be made on how the organization should look like in terms of capabilities, structure and leadership in order to achieve i ts objectives and goals. In other words, desired state of performance and improved position should be defined. The next key step in the formulation of talent management strategy should involve examining any talent management components that are already in place within the organization and analyzing how each of these components is working. The organization’s talent management priorities should then be documented based on the talent requirements and goals of the organization, as well as based on the analysis of existing talent management systems and processes (Armstrong, 2007). More importantly at this stage of formulation of strategy it will be critical to define the competencies that the organization needs. The

Managing business finance Essay Example | Topics and Well Written Essays - 1750 words - 1

Managing business finance - Essay Example Usually banks engage in selling CLOs with different tranches that represent various ranks of seniority in terms of reward/risk profile (Duffie and Garleanu, 2001). CLO’s involve three key entities; banks, CLO managers, investors and borrowers. Now, in order to understand how CLO’s work it is important to explain the way in which securitisation works. At the very beginning a CLO manager approaches various investors in order to pull up funds from them and use them to buy loans (rather issue loans). These funds are pooled in one place sometimes also called as the securitisation vehicle which serves as the source of loans for potential borrowers. This vehicle generates interests every month which are paid back to the investors in terms of the riskiness assumed by them. There are various tranches of investments which are graded according to their risk/reward profile (Coval, Jurek and Stafford, 2009). Such as a AAA rated loan is less risk and less reward generating security whereas a BB rated loan is high risk high reward generating security. This means that when the securitisation vehicle generates interest every month, the investor a ssuming the exposure to a highly rated loan (less risky) is paid first but at the cost of a lower interest rate. On the other hand the investor assuming the exposure to a low rated loan (highly risky) is paid at the last but with a high interest rate. The fact here is that there is greater chance for the highly rated securities to pay out the return whereas there are lesser chances that the low rated investment tranches will generate a return (Antczak, Lucas and Fabozzi, 2011). Due to the demand for loans bank managers prefer to issue loans by pooling up funds from different sources in order to share the risk of default. They pool funds from their syndicates which involves (also termed as syndication) other banks, hedge funds and CLO managers. A loan is then divided into

Economics Term Paper Example | Topics and Well Written Essays - 1250 words

Economics - Term Paper Example In their notable works, famous economic thinkers such as Mishan (1967), Scitovsky (1976) and Arrow et al. (1995) have critiqued GDP, arguing that it is a significant mathematical measure, but not a comprehensive measure of the economic activity of a nation (Kitov, n.d.). In the recent past, GDP economic measure has been considered equal to the social welfare of society. It is evident with the recent adoption of the term "standard of living", used synonymously with GDP. However, this relationship is not buoyed by any significant macroeconomic concept, but has become a habit in the recent past. What is conceivably utmost conspicuous is that a huge bulk of reporters and legislators, irrespective of their party-political inclinations, make very credulous declarations about GDP (vintrova, n.d.). It is therefore not astounding then that we see the majority of people in the world prefer economic growth in terms of GDP growth. The same has been supported by an obvious emphasis on GDP growth by global institutions such as the OECD and IMF. Numerous items and events in this life cannot be assessed through GDP, but they are measurable using the cadent of education, health, clean environment, social welfare, freedom and many others. A famous economist started the process of distinguishing the commodities that are comprised in the GDP measure and the capabilities that are omitted from it. His efforts, buoyed by his colleagues efforts led to the notable discoveries of techniques of supplanting GDP. There are various flaws associated with the GDP measure of economic growth. Key among them; it is reported that GDP measures average costs rather than the benefits that emanate from the market operations. It is also said that GDP leaves out many external costs associated with the country’s economic growth. In the years between 1950 and 1965, a negative mean welfare trend was experienced in

Australian Government Intervenes in the Economy Essay

Australian Government Intervenes in the Economy - Essay Example Aside from market failures, the government also intervenes to achieve equality through the reallocation of resources and redistribution of income (Stiglitz, 2002). This last impetus for the government to interfere in the market economy is the focus of this paper. We will take a particular look at the Australian government and its various ways of intervening in the market to improve its outcomes: with a specific focus on reallocation of resources and redistribution of income. A study of the Australian National University's Centre for Economic Policy Research highlighted the income inequality in Australia. "The study revealed that "taken overall, the 60 years from 1921 were apparently a period of major decline" in the share of income going to the wealthiest taxpayers" (Michaels, 2006). By 1980, the share of the top 1% fell from 10% of the total income to 5%, the 0.5% fell from around 9% to 2.95% and the top 0.1% was cut down from 4% to approximately 1% (Michaels, 2006). ... er the same period and the share of the top 0.1 percent, which had fallen to approximately 1 percent of the total in the 1980s, more than doubled to over 2 percent by the end of the 1990s" (Michaels, 2006). The introduction of the imputation system "in which part of corporation tax paid is treated as a pre-payment of personal income tax" has exacerbated the inequality (Michaels, 2006). Early Redistribution Activities Australia government depended on three redistribution methods: "the progressivity of the taxation system; the distribution of government cash payments; and the absolute level of government in-kind and cash payments" (Robinson, 2007). "From 1910 to 1940 per capita levels current of Australian social expenditure in 1911 prices rose 208% substantially more than Butlin's estimate for GDP growth in 1911-39 of 48%. The introduction of aged pensions, the maternity bonus and repatriation services saw the Commonwealth take a leading position in overall social expenditure, in particular cash payments to individuals, but the states remained dominant in the delivery of in-kind services, particularly education and health and NSW from 1927 introduced widows' pensions and child endowment" (Robinson, 2007) Australian government has given much in terms of pension and reparation. Excluding the NSW widow pensions, pension and reparation became the government's responsibility in which the distribution is "allocated per capita among the census category of Pensioners as identified in the census" (Robinson, 2007). There were also in-kind government services which is composed mainly of health and education and administered by the state in proportion to their population (Robinson, 2007). The government also resported to cash payments, although it covered only a small

Organizational Communication Issue of Toyota Research Paper

Organizational Communication Issue of Toyota - Research Paper Example But apologies regarding how the whole situation of information shared and communication with public has been done came much later. Toyota through press releases responded to the government, NHTSA’s queries and through this releases it tried to defend itself by refuting the claims made by Toyota users regarding the possible cause of faults in the vehicle. But in spite of this, Toyota had to pay a $16.4 million fine to NHTSA in USA on April 19, 2010. It was found out that Toyota face media scrutiny which leads to increased confusion of stake holders and their criticism and questions. Toyota’s failure to respond to the public and government in transparent way and it denied the problem until asked to take actions (May 100-107). An important function of organization is communication during crisis time. A crisis can cause financial loss, decreased confidence of stakeholders and buyers purchase intentions from the organization. To handle the communication training should be given to the spokesperson. To Lerbinger, Feran-Banks and Coombs, attention should be placed on media relation in crisis time. This was important for Toyota which gave late and vague response in media regarding recall of vehicle. Communication should include pre drafted messages from top management and news releases which can be used during crisis. Corporate Leadership Council  and Business Roundtable  supported the use of these templates. PR personnel will play a key role in drafting these messages. A separate website can be created for a crisis situation or a section in existing website could be devoted to deal with these. Stakeholders and media turn up to internet during crisis situation. Taylor and Kent in 2007 persuaded the use of internet during organizational crisis. Quick response by informing the media and stakeholders about the cause and nature of crisis from the side of organization is very necessary or

How Adam Smith's Writings Help Us to Grasp One or More Specific Issues Essay

How Adam Smith's Writings Help Us to Grasp One or More Specific Issues in Contemporary Politics - Essay Example In the book Wealth of Nations, Smith argued that wealth does not only mean possessing metal but also included the ability to satisfy one’s needs and desires (Otteson 7). He stated that prosperity can be increased if the division of labor is increased, which he demonstrated by using the example of pins. He established logical insights like equality of returns, which was explained by the relation between wage rate and the type of the work. In short, economic and political theories of Adam Smith provided the guidelines that help to understand the wealth of nations and throw light on the political scenario and policy making (â€Å"Adam Smith†). Theories of Adam Smith - Theory of Invisible Hand at Work and Division of Labor In his book Wealth of Nations, Smith has focused on the fact that market forces ensured the production of the goods and services in quality and volume. This was coined as the metaphor of invisible hand at work. People should be allowed to regulate the mar kets on their own. He was of the idea that if people are given the liberty to control the market, they will utilize the resources in the best possible ways with the welfare of the public as the byproduct. This will be possible when producers prefer making profits by supplying the products or services. This will increase competition, and thus the public life will be influenced in a better way. Smith suggested that this can be achieved only without the intervention of the government, thus devising a ‘laissez faire’ form of economy (Smith). Another theory proposed by Smith was division of labor in the book Wealth of Nations. He suggested that, with proper division of work, there would be an increase in productivity. With proper allocation of work, there is an increase in the efficiency of the worker as regards one specific kind of work. Assembly line made it necessary for the workers to focus on minute details, as any mistake in one part can make the entire assembly line n on functional. Smith proposed that a worker can perform best if he or she is assigned the work he or she is best at. He said that the division of labor would lead to producing tangible objects and in surplus amounts (Dhamee). The political environment during the time of Adam Smith was more capitalistic in nature. Mercantilism was present that dictated almost the society in its entirety. Adam Smith was the severe opponent against mercantilism. In mercantilism, the only beneficiaries were the producers and the monopolists. This was done at the cost of the interests of the consumers. The government had no policies to address the needs of the common man. Also, there was no proper division of work. Further, after the industrial revolution and the American Revolution, the western world flourished considerably. But it was only a section of the people who were receiving the benefits, while the condition of the average common man degraded (Skousen 6). The book The Big Three in Economics: Ada m Smith, Karl Marx and John Maynard Keynes by Mark Skousen in 2007 explained how Wealth of Nations dismissed the traditional economic outlook where mercantilists controlled the commercial and political interests of the society. This book reported that mercantilist policies benefited only the producers and