Evaluate the costs and benefits for UK fashion retailers of sourcing products from India
Evaluate the costs and benefits for UK fashion retailers of sourcing products from India Outsourcing your company abroad involves buying in from another business inputs that were previously created in the firm. It is integral for both cutting costs and benefiting from high quality products as well as gaining from specialisation. Outsourcing part of your business opens up a world of opportunities such as the ability to maximize your revenue and minimize your expenses, the access to specialized skills and services, the prospect to concentrate more on your core business and to therefore save on money, time and infrastructure. Outsourcing to countries such as India can give you access to cost-effective services. The same services with the same level of quality are offered in India for a much lower cost! In the UK the labour cost for manufacturing clothes are extortionate due to government legislations such as the minimum wage and taxes etc, and by outsourcing to India you can help you save up to 60% of your total costs when outsourced! Outsourcing enables you gain access to high-quality services at a cost-effective price. Another benefit of outsourcing is that you can save on every aspect of your business and increase your profits. When you outsource, you can save on time, effort, infrastructure and manpower. Since you don't have to invest in infrastructure, you can also
Marketing research for a new gaming console. My first marketing objectives are to find out who are my customers.
Market Research Objectives To be able to set you marketing objectives you need to clear about what market research is about. Market research is simply collecting data about a specific market through primary and secondary research. A company, firm, or a business could undertake market research to find out the possibility of a new product or service they are launching a success. Another reason for market research is to find how well their existing products are doing. Therefore, the primary objective of market research is to collect data for analysis. Analysis of the data will help determine the cause of success or failure of the product or a service. My first marketing objectives are to find out who are my customers. This is will help me target customers who are actually interested in the product. I need to find this out because it would be pointless, waste of time and money if I try to promote it to people who are not interested in my product. My second objective is to grow understanding through other business in competition with Microsoft. The two main businesses I will focus on are Sony and Nintendo. These businesses are in heavy competition with Microsoft for home entertainment products especially consoles. By doing this it will help me find, the business main strengths are weakness. Final objective is to increases customer awareness; Microsoft's aim is to get everyone
Mcdonalds Marketing Mix
The Marketing Mix and Its Constraints McDonalds - the marketing mix is applied to products in McDonalds in many ways: McDonald's are looking at different ways of saving energy and the planet. One way was that they collected waste from eleven of their restaurants where it was later collected and recycled to produce electricity for local buildings. A McDonald's spokesman said the experiment had cut its carbon impact by fifty four percent in Sheffield. Mc Donald's became the first fast tune chain serving coffee from ethical sourced growers. The deal for the fair trade coffee from South and Central American farms has been certified by the rainforest alliance. Product: Menus give customers a choice of what they want to order/eat. Therefore McDonalds develops menus on what customers want to gain maximum profits. The company gains such information after going through the process of market research. However the customer's requirements change over time. To keep customers happy and the company up to date with customer's needs and wants, the company should monitor customer's preferences. In order to meet these changes, the company introduce new products and phase out old ones, this will continue over time. The company know that items on the menu will vary in popularity. Their ability to generate profits will vary at different point in the products life cycle. All products
Cadburys Aims and Objectives
Welcome to Cadburys, we are a very successful business. We currently have 59,000 employees working at Cadburys. This is a small introduction into our business, the new aims and objectives we have and would like to include you with us in helping the business grow and meet its aims and their objectives. This two-page document explains our aims and objectives and how we intend to meet them. Cadburys Aims and Objectives Aims Objectives Deliver superior shareowner performance -This aim was made to help Cadburys to deliver superior return to their shareowners. This will be done by increase in business performance. Cadburys measure shareowner returns by looking at the total return on their shares, or TSR (share price growth plus the value of reinvested dividends). Delivering superior business performance. In 2008 and 2009 we are hoping to increase our sales by another 5%. Execute Fuel for Growth and focus on Free Cash Flow - Our Cash Flow for the year was £200m, down from £400m we aim to raise it to 400m again. Profitably secure and grow regional beverages share. -This aim was made for Cadburys to increase the product that they supply all over the globe so that they can increase market share. Invest, innovate and execute - In the UK, there have been a increase of the rate of innovation and our marketing spend in the second half of the year with the creation of new
Rise and Fall In Oil Prices
Rise and Fall In Oil Prices Market Equilibrium Price and Quantity Equilibrium price is a price that is stable, no other forces act on it, where the planned purchases are exactly equally to the planned sales. If the price is higher than this point, some goods not sold, then there is an excess supply. To counter this prices will be cut to increase demand and the market will move back towards the equilibrium position. The net effect of all changes is for the market to move back towards the equilibrium position. Shift in Supply and Demand Supply is output that companies produce to try and match demand for that product. Supply will shift up or down depending on the market conditions. As prices increase supply will increase as companies try to make a larger profit, in most cases. Demand is the want for a product by a consumer. Change in demand can be positive or negative. A shift in demand will be a result of another factor external or internal which will result in demand levels increasing or decreasing. Own Price Elasticity of Demand Own price means the price of the good sold not taking into account substitute goods. Price elasticity is a way of describing how responsive the demand for a good is to a price change. Demand is elastic if responds greatly as price changes. Demand is inelastic if the response is small as price changes. Own Price Elasticity of Supply Own price
I am interested in how the economy of a country works - the price changes of a fish market.
Introduction I am investigating this report because I am interested in how the economy of a country works. Even though I only investigated the price changes at the fish market, it was enough to get a fair representation of how things work in this country, particularly about economics because each country has different government which therefore have different ways of determining what to produce for whom to produce and how to produce. For example, in China the government decides what, how and who to produce as the country practices planned economic system, while the U.S government let the people or the market force make the decisions mentioned before. Economists would observe the economy of a country. The various observations will make them better at understanding the cause and effect of the market forces. In the Netherlands, the selling of drugs is made illegal by the government with demands from the market. Economists in the country will try to predict what are the impacts on the selling of drugs, whether it is worth or not. If the selling of drugs will cause an increase in social problems or a decrease in the welfare of society, than they could suggest to the government to prevent the selling through legal ways. Demand Consumer's demand plays a large role in determining how scarce resources are used in the economy of a country. The demand is determined by the want or
Domestic tourism is important to the UK because the more people that stay within the country to take their holidays means more money staying within the UK.
Unit 3 Assignment 4 Task 1 - P4 Domestic tourism is when people that live in the UK take a break or a holiday within in the UK. Domestic tourism is important to the UK because the more people that stay within the country to take their holidays means more money staying within the UK. According to Star UK, UK residents took 151 million domestic overnight trips in 2005 and they spent £14 billion. The £14 billion that was spent from domestic tourists meant that money stayed within the UK rather than going to other countries outside of the UK. There is a range of different domestic tourism markets, which the travel and tourism industry need to, provide for. These include: educational, families, business and couples. All of these tourism markets are looking for different needs within their holidays. Due to the recent recession more honeymoon couples are taking their honeymoons within the UK as it is cheaper than going abroad. Honeymoon couples will require different needs to general tourists, as they want to make their trip special. Honeymoon couples will be looking for a 4 or 5 star hotel to stay in. they will want to look at what facilities they have such as do they provide champagne on arrival to they have an area to relax in such as a spa and what type of meals do they provide. The location of the hotel will be important to the couple as they will need to be able to
Human resource and Finance
Human resource Recruitment The Human Resource Department has many different functions. Its main responsibilities are recruitment, training, motivation, remuneration, retention and dismissal. When job vacancies arise, it draws up documents for specific purposes, organizes and runs interviews. The Human Resources department has to follow certain procedures before a job can be advertised. Vacancy occurs - Three reasons why a vacancy may arise in a business: * Retirement, * Promotion, * Going to a new job. The first step for the human resource is to determine which job has a vacancy. Job analysis concentrates on what job holders are expected to do. It provides the basis for a job description, which in turn influences decisions taken on recruitment, training, performance appraisal and reward systems. The Human Resources manager then draws up a job description - The job description should contain these basic details about the vacancy: * The job title, * The position in the organization chart, * A list of duties. Person specification drawn up - The person specification should include the following details. This specification represents the ideal qualities of the person required to fill the vacancy: * Qualifications, * Experience, * Personality. The job is advertised- The Human Resources manager needs to consider the following: * What details need to go in
Wage differentials Firemen v Robbie Williams
4. In 2002 in the UK public sector fire fighters threatened to go on strike because they stated that their earnings were very low compared with other workers. In the same year Robbie Williams, a singer from the UK, signed the largest ever recording deal in the music industry, worth millions of pounds. Discuss whether the economic theory of wages can explain how workers in a vital industry such as the fire-fighting service can have lower pay than workers in a less vital industry such as an entertainment. A. Wage differentiates exist in the market due to various reasons such as skills, net benefits, discriminations, etc. The demand for labour and supply of labour mainly play the main role in wage determination in the factor market. The demand for labour is said to be a desired demand. This is because labour is demanded for the product it can create through its work and therefore the product's demand and elasticity will determine the demand for and the elasticity of labour. Therefore to attain the demand curve for labour, the marginal revenue productivity theory has bee postulated. According to this theory firms will employ labour until the marginal revenue productivity i.e. the marginal physical product produced by the unit factor times the price of product ; is equal to the marginal cost hiring the labour. For an industry operating in an imperfect factor market the MRP
Managing change unit 14
As a group we have planned to change the study room from S2 to S4. This is an internal change as it will be taking place inside the Sixth Form. This change will benefit the students, teachers and also the reputation of the Sixth Form. S2 at the moment is the study room, however from the responses of the students (see questionnaire) and from our own view we feel that S2 does not provide us students with all the necessary facilities that would enable the students to study efficiently. Therefore we have thought of changing S2 to S4. S4 is much bigger in space and has many other additional benefits for example; it is much brighter, cooler and more appropriate for studying. S4 at the moment is an I.T and business classroom. We have interviewed one of the I.T teachers (Mr Romani) to see how he feels about shifting his classroom to S2. This change will have a long term implication for all the students and teachers therefore this is a strategic change. The human, technical, and systematic factors (short, medium and long term) will be discussed further on in the coursework. Our aim is to change the educational environment in the study room by changing S2 to S4, in order to help students concentrate better. > Inform the students about the change by June the 1st 2007 > Change the room S2 to S4 by June the 4th 2007 > Move the 16 computers in Cisco to S4 by June the 5th 2007 >
