Thursday, December 5, 2019
Question: Describe about the Movement and Shift in Demand Curve. Answer: Movement in demand curve Times when demand curve movement Movement in demand curve occurs at a times when the quantity of a product purchased reduce or increase due to changes in price (Green, Malpezzi, Mayo, 2012). When Movement along the demand curve occurs The curve below shows movement along the demand curve. When the price of a commodity is high at P1 the quantity demanded is low at Q1. On the other hand, when the price is reduced from P1 to down to P2 by the producer, the quantity demanded increase to Q2. This happens on just one curve as shown without a shift. Diagram of movement Along Demand Curve Example of movement along the demand curve The demand of soda before Coca-Cola Company increased their prices was high compared to the quantity of soda being purchased by consumers currently. Examples of a shift in demand curve A shift in the demand curve occurs when the whole demand curve moves to the right or left (Malpezzi, 2011). People looking for other solutions due to increased fuel prices Few individuals purchasing flat shoes due to change in fashion causes shift in demand Low quantity bread purchased by consumers due to reduced wage References Green, R. K., Malpezzi, S., Mayo, S. K. (2012). Metropolitan-specific estimates of the price elasticity of supply of housing, and their sources. The American Economic Review, 95(2), 334-339. Malpezzi, S., Maclennan, D. (2011). The long-run price elasticity of supply of new residential construction in the United States and the United Kingdom. Journal of Housing Economics, 10(3), 278-306.
Thursday, November 28, 2019
7Heaven Technology Management Strategies Introduction Innovative technology is one of the most highly appreciated and developing industries in the world. Having achieved many goals, it is essential to consider the fact that this industry is too young and it needs a lot of achievement and other specific inventions in the future. Looking at the UAE and the companies located there, it may be said that this country is one of the most occupied by the IT technologically directed organizations.Advertising We will write a custom proposal sample on 7Heaven Technology Management Strategies specifically for you for only $16.05 $11/page Learn More Basing its business in UAE, many corporations offer outsourcing and IT solutions for the business needs all over the world. Speaking about the demand on such services, it should be remembered that modern world is impossible without innovative technologies, the Internet has occupied all the spheres and industries, therefore, the innovative technologies and the compani es which help to cope with the appeared problems are the essential parts of human life. The Company Overview and the Industry 7Heaven Technology is the company which offers innovative products and services for use as well as outsourcing for the world companies. 7Heaven Technology offers services, products, and delivers outsourcing. Loyaltimate, Pro-Man, and eZ-Mall are the products offered by the company. The services the company offers are business solutions development, website development and website and SaaS hosting. The outsourcing services offered by the company are book keeping and auditing, hardware, networking and AMC, and IT offshore services. Being the central services of the company, they create deserving competition in the industry. 7Heaven Technology is the corporation which unites many smaller companies which are responsible for its own sphere. It is essential to remember that the innovative technology industry is developing one and there are a lot of companies which serve at the market with the same products and services. To be the best, 7Heaven Technology has to apply to various strategies which are essential for the company and its further leading in the industry. Many companies have understood that it is cheaper to outsource some particular IT services than to produce them personally. Inventory management system, quick invoice management system, and quick and easy accounting solution are the services 7Heaven Technology offers. The company was launched in 2011 in UAE, and since that time the 7Heaven Technology has become the leader in the service delivery in the Middle Eastern market (7Heaven Technology). The industry of IT technologies is developing. There are a lot of various companies which offer different services and there are even more those which are ready to consume those services. Speaking about UAE and IT industry, it may be concluded that the sale of IT products have increased in comparison to the previous year (DubaiÃ¢â¬â¢s IT m arket has grown to AED 113 billion in 2011). Even though many companies still recover from crisis, other corporations refer to outsourcing of the IT technologies as it is cheaper and more profitable.Advertising Looking for proposal on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Key Competitors Having conducted a thorough research in the industry, it may be concluded that 7Heaven Technology has several rivals, Exceed IT Services and DIC are some of them. Looking at the situation in UAE, it should be mentioned that the impressive expansion in Dubai of the IT industry and the increase of the number of the companies which offer these services are the main characteristics of the region. Data storage and processing are the central competing issues in UAE and companies strive for consumers. The increase of the competition might create serious problems for the company, however, the specific measures were taken. To r emain equally useful companies with particular consumers and profitable income, the Dubai Outsource Zone was established with the purpose Ã¢â¬Å"to take advantage of the growing potential the segment offersÃ¢â¬ (UAE: Dubai Outsourcing IT Industry). One of the main strengthens of the company among its competitors is its wide range of services. Turning to 7Heaven Technology, clients are eager to find all the necessary IT services and products which may be necessary. Effective use of business technology is the main criteria of the company advantage. Company Business Excellence and Quality Management Strategy Speaking about business excellence of 7Heaven Technology, it is important to define the term. Business excellence is the notion which characterizes various business models and processes which support the company goal to achieve success in performance. Quality management strategy is a particular strategy aimed at understanding the specifics of the company strategy which presuppos es completing excellent business. It is obvious that all these processes are dependant, and if the company fails to deal with one process successfully, it is impossible to wait for the best outcome. Quality management is based on three specific principles, people, consumer, and process orientation. Quality management is directed at the activities which ensure Ã¢â¬Å"continuous improvement of the performance of the companyÃ¢â¬ and create the conditions Ã¢â¬Å"needed in order to satisfy the stakeholders in the company by providing excellent performance and resultsÃ¢â¬ (Pfeifer 41). Analyzing 7Heaven Technology from the point of view business excellence and quality management, it is important to check how the company deals with its customers, what the processes are and how they are completed. After that the recommendations may be offered in the sphere under discussion.Advertising We will write a custom proposal sample on 7Heaven Technology Management Strategies specifical ly for you for only $16.05 $11/page Learn More As it has already been stated the company deals with three directions, services, products and outsourcing. Each of these spheres is interconnected with each other as the outsourcing and services are based on the IT technologies and products offered by the company. Providing its services, 7Heaven Technology applied to the Loyalty Program to retain existing consumers and to attract new ones. Additionally, this Loyalty Program allows the company to understand the buying behavior of customers and sell the issues which they want to buy. Additionally, being the part of the quality management, Loyalty Program is aimed at attracting new vendors and promoting their brands (7Heaven Technology). Offering customers Property Management Software Pro-Man, the company tries to assure that the companies work effectively. 7Heavenn Technology offers several packages depending on the customersÃ¢â¬â¢ needs. eZ-Mall is Ã¢â¬Å"a complete s olution for Mall Management Companies to setup and manage their operations based on industry standard processesÃ¢â¬ (7Heaven Technology). To make sure that the company pursues business excellence, it is important to consider its relation to the customers. The mission of the 7Heavenn Technology is to satisfy the needs of clients. Key Resources and Capabilities The key resources of the company lie in the innovative technologies and their appropriate use. Applying to the safety of the company, it should be stated that 7Heaven Technology is driven by the creativity o its staff, therefore the employees in the company are highly apprised. It is also essential to say that the company pursues the goal to complete task with minimal expense. This is one of the leading outsourcing issues which are considered as the most important ones. However, sometimes the problem of quality appears. Therefore, it is essential to remember about the pieces of advice in relation to company quality managemen t and business excellence which are going to be discussed. Distinctive Competencies and Potential Sources of Sustainable Competitive Advantage Dwelling upon the advantages of the company, it is important to remember the loyalty program, fast and quality service delivery, immediate and professional feedback. The companyÃ¢â¬â¢s priority before other companies lies in the fusion on the services and products. 7Heavenn Technology does not offer one particular product or services, it offers many services and many products along with outsourcing facilities.Advertising Looking for proposal on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Therefore, turning to the company, a consumer may get the full package of services one needs. The distinctive competencies of the 7Heavenn Technology is its guarantee of the security of customerÃ¢â¬â¢s information. Offering book keeping and auditing the company makes sure that all the data the clients provide the company with are going to be highly secured. So, respect to the customers and the ability to meet their needs along with the specific information security strategies are the main priorities of 7Heavenn Technology. Recommendations To achieve the business excellence, the company is to pay attention to its weaknesses and to use its strengths in dealing with them. Having considered the company competitors, resources and strategies used for company management, it is possible to recommend referring to the EFQM Excellence Model. The main idea of this strategy lies in outsourcing the management practices which are based on eight fundamental concepts. Here is an analysis of these concepts from the point of view of the company strategy and the recommendations to the company further actions. The company should achieve balanced results. Offering services, products and outsourcing facilities, the company should make sure that the demand on these specific issues is balanced. Furthermore, the company should add value to the consumers. There are many strategies aimed at completing this task. The company should pay more attention at promoting and advertising on order to complete this stage. Furthermore, it is important to remain a leading company with vision, inspiration and integrity. Being an IT corporation which depends on the creativity of human resources, it is essential to be the leader in the industry as the innovations change and the first company which has managed to invent something new gets a prize, more customers. It may be stated that some of the concepts of the EFQM Excellence Model are met which helps to draw a conclusion that the company is on the co rrect way, still, it needs some particular changes to be made. 7Heaven Technology is an IT company, therefore, the concept of managing by processes is followed. The company also succeeds through people as human resource is one of the main parameter in successful work of the company. Nurturing creativity and innovation are the most essential processes in the company management, therefore, these concepts are met. However, the company should encourage employees for more and better work. Creativity is an inevitable aspect of the work, the company must be creative to be able to serve its customers and offer them constantly new services which are going to be useful to them. The company builds partnerships as it is too difficult to offer outsourcing services individually. The company should be guaranteed by support from other corporations in order to secure itself from customer dissatisfaction and to make sure that it has all the necessary resources for completing the task. 7Heaven Technol ogy is responsible for its sustainable future as it has a desire to develop and increase its consumer base (Hakes 255). 7Heaven Technology company presents its services in IT industry, therefore, fast and quality delivery of the services and immediate reaction if any problem appears is an obligation for the company. The company managers understand that in case all the processes work successfully, the particular needs of the quality management are met as well as requirements of the business excellence. Conclusion Therefore, it should be concluded that 7Heavenn Technology is a relatively new company which has managed to gain positive image in the IT industry and the attention of the clients. However, in the highly competitive environment, it has many rivals and to cope with them the company should change some strategies. Quality management and business excellence models discussed above are the most effective ones as on the one hand, they help organize the work of the company on an app ropriate level and on the other hand, it assists the customers and meeting their needs. The recommendations offered for the further company development are to be followed, otherwise, it is going to be difficult to for 7Heaven Technology to position themselves at the Eastern market and to become serious competitors to the enterprise which have been developing in the industry for many years and who have already got regular customers and who feel secured in the competitive world. Ã¢â¬Å"7Heaven Technology.Ã¢â¬ 2012. Web. 7heaventech.com/ Ã¢â¬Å"DubaiÃ¢â¬â¢s IT market has grown to AED 113 billion in 2011.Ã¢â¬ Dubai Chamber. 18 Dec. 2012. Web. dubaichamber.com/whats-happening/chamber_news/dubai%E2%80%99s-it-market-has-grown-to-aed-113-billion-in-2011 Hakes, Chris. The EFQM Excellence Model to Assess Organizational Performance: A Management Guide. New Jersey: Van Haren Publishing, 2007. Print. Pfeifer, Tilo. Quality Management. New Jersey: Hanser Verlag, 2002. Print. Ã¢â¬Å"UAE: Dubai Outsourcing IT Industry.Ã¢â¬ Global Arab Network, 31 March 2011. Web.
Sunday, November 24, 2019
Inclined Planes One of the traditional types of simple machines is an inclined plane. Like the pulley and lever, the inclined plane provides a means of raising a heavy load easily. It is mainly useful for loading barrels since they can be rolled up the incline plane. The inclined plane was one of the machines available in ancient times. For example- the early Egyptians used inclined planes in the construction of the pyramids. Today many inclined planes are used in sports and recreation like water skiing and slides. They are especially used when loading and unloading trucks since many things are too heavy for people to move. Many roofs are built with an incline so rain water would slide down easily.There are also natural inclined planes. For example skiing- the downhill plane is natural. Also to get to the top of mountains, construction crews use inclined planes to build roads around mountains instead of straight up.English: Restored inclined plane, Llanberis. The s...Then we could gradually get up t he mountain with less effort.Some inclined planes are in unusual places like when you walk up and down the stairs, it is an inclined plane. It is also the most often used. Bathtubs are another example because the sides of the tub have built in planes so water can slide down easily in a certain direction. Skateboarders perform tricks on inclined planes so they could gain more speed when jumping.When you push something up the ramp, it would go up gradually. You would also use less effort than just lifting the load up. If the plane is steep, you are also using more effort than if it was lowered. If the plane is at a steep angle a greater force is needed to move the load than if the plane is only tilted a little. However, work...
Thursday, November 21, 2019
Approach to Marketing vs Value Approach - Essay Example All the four PÃ¢â¬â¢s are classified to as the marketing mix. The most important thing is the product and should satisfy the consumer. The price is the amount that the customer pays for the product. The things that should be put into consideration when setting up a price is the neutral pricing, market skimming price and the penetration pricing. The price determines the companiesÃ¢â¬â¢ profit. Promotion is basically all the skills of advertising brought together to market products. Place is the same as distribution and it is the location where the consumers go to purchase the products (Ramas, 2012). When it comes to marketing all the aspects of retaining and attracting more customers becomes a priority. This is achieved by creating, communicating, and delivering to the customers. Advertising of the products is very important through magazines, newspapers, internet ads and TV advertising. There are other ways of making the products to prosper in the market like the branding, pricing, promotion, product design and many others. Marketing is very important since one cannot run a business without customers. They are the most important stakeholders in businesses (Charles, 2010) Creating, communicating, and delivering values to customers gives us what a good definition of marketing is. Both marketing and market mix are important and go hand in hand to achieve a good successful