Business Success Assignment Example | Topics and Well Written Essays - 2000 words

Business Success - Assignment Example In order to satisfy customers, products should be competitively priced and should have the desired quality. This is the only was a firm can build up long term relationships with the customers. The goal of conducting the internal analysis is to find the answer to the question that why the economic performance of some companies are better than the others in the competition. Internal analysis of a particular firm analyzes and lists out the relative weaknesses and strengths of a company as compared to its competitors. By conducting Internal Analysis, the strengths as well as the weaknesses of the firm can be analysed. This helps to compare the strengths and weaknesses with that of other firms, too. Internal analysis also helps determine the resources along with the capabilities required that may help sustain the company in the competitive market. According to Porter's Internal Value Chain, the primary activities required for the internal analysis are production, inbound logistics, sales and marketing, warehousing and distribution along with the dealer support and customer service. The support activities required are infrastructure, procurement, human resource management and r esearch and development technology. (Barney and Hesterly, n.d., A) Human resource is one of the key factors that influence a firm's success in the competitive market. ... If a particular firm has rare and valuable resources that are difficult to be replicated by competitors, then the firm is at an inherent advantageous position. However, the firm should strategies in place to leverage these strengths to generate competitive advantages. A business organization also needs to pay due attention to the intangible assets along with the tangible ones like brand equity, Intellectual Property and the knowledgebase residing within the employees of the company. This is highly beneficial while implementing and conceiving the strategies. If a company's co-operative relationships are better, then quite naturally that firm is at an advantageous position. (Barney and Hesterly, n.d., A) However to maintain a smooth and uninterrupted supply of human resource, companies need to make sure that the employees in general are happy and the labourers in particular. It is seen from the past records that industries were there is a high tendency of labourers forming unions; the net profitability is comparatively much less, as in steel, airlines and automobiles. Companies irrespective of their size and domain of operation should strive to keep the tendency of forming labour unions at the lowest best to yield maximum profit. Fig. 1 shows how the percentage of profitability decreases with an increase in the percentage of employees unionized. Fig. 1: The Impact of Unionisation on Profitability (Source: Robert M. Grant, 1998) Another important factor responsible for a company's success is the marketing skill. It might happen that the products offered by a firm are of superior quality and is also offered at competitive prices, but the customers might be unaware of the particular product. So, it is very much necessary to know the art of

Life in Thailand Essay Example | Topics and Well Written Essays - 1250 words

Life in Thailand - Essay Example Since that time I wanted to write a book myself. When I turned five years old, I and my family moved back to Bangkok. So I know two dialects of Thai language. At the age of nine, my parents sent me to Singapore for my education. There Singapore, I was taught English that followed the British System. I didn’t get that British accent but got used to it. People in Singapore have a unique accent called â€Å"Sing-lish†. There are many people of different races and cultures in the city of Singapore. Most of them are Chinese, Malay, and Indian. So I even studied the Chinese language when I was in Singapore and that also influenced my speech. So now have something like English-British-Singlish-Thai accent and a mix of languages in my mind. After that, I moved to Los Angeles for studying in Junior High. When I began living in the USA I also heard and adopted the American accent and because of that, I have had a hard time speaking and understanding. It felt like all the language s and dialects were mixed up in my head. It was a difficult time not only for me but also for my new friends and teachers, it was hard for them to understand what I was trying to say. And even now I still have an echo of this problem in my life. Sometimes I still feel that it is difficult for people to understand my speech. But, unfortunately, I cannot do anything with that. The name of my native country is the word, which sounds like â€Å"Thai† in our language, means â€Å"freedom† and we call our country â€Å"Prathet Thai† while the name that all the people got used to Thailand appeared only in 1930th. Speaking about the culture of Thailand I should mention that Buddhism and other religions and beliefs greatly influenced Thai art and way of life.  Ã‚