Why is good product and service design important? Good design makes good business sense because it translates customer needs into the shape and form of the product or service and so enhances profitability.

> Chapter 5.1 The design of products and services Why is good product and service design important? Good design makes good business sense because it translates customer needs into the shape and form of the product or service and so enhances profitability. Design includes formalizing three particularly important issues: the concept, package and process implied by the design. Design is a process that itself must be designed according to the process design principles described in the previous chapter. What are the stages in product and service design? Concept generation transforms an idea for a product or service into a concept which captures the nature of the product or service and provides an overall specification for its design. Screening the concept involves examining its feasibility, acceptability and vulnerability in broad terms to ensure that it is a sensible addition to the company's product or service portfolio. Preliminary design involves the identification of all the component parts of the product or service and the way they fit together. Typical tools used during this phase include component structures and flow charts. Design evaluation and improvement involve re-examining the design to see whether it can be done in a better way, more cheaply or more easily. Typical techniques used here include quality function deployment, value engineering and Taguchi

  • Word count: 2761
  • Level: International Baccalaureate
  • Subject: Business Studies
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World Trade Organization

The official World Trade Organisation web site, defines the WTO as "the only global international organisation dealing with the rules of trade between nations . . . [through] helping producers of goods and services, exporters, and importers (to) conduct their business"1. It was formed in 1995 after growing out of and extending the institution of the General Agreement on Tariffs and Trade. As of the thirtieth of November 2000, the WTO has 140 member-countries, over three-quarters of which are developing or least-developed countries. As the WTO implies, its current role is to serve as the lubrication for the joints in the engine of globalisation; although just how effective and fair this lubrication may be, is still a point of great contention. The WTO preaches that its purpose and effect are to "improve the welfare of the people of the member countries"2, and it claims that this is achieved by administering trade agreements, and monitoring and handling trade disputes. This essay will test the truth in this statement, of whether or not the actions taken by the WTO have failed to further enhance the welfare of the people of its member countries, and if so, whether the WTO therefore needs to be either reformed or even abolished. The criteria by which I will assess this truth, takes into account the three major arguments that are held against the WTO, with regard to its affect

  • Word count: 2201
  • Level: International Baccalaureate
  • Subject: Business Studies
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Custom Fabricators Inc.

CUSTOM FABRICATORS, INC. I. Analysis Ben Lawson's main concern in the case presented is how to ensure success of his business, Custom Fabricators, Inc. (CFI), in the long run despite threats brought about by some changes in the business strategies of its only customer, Orleans Elevator (OE) and possible competition from Mexican companies. The relationship of Ben's company with OE has strengthened over the years. OE has provided more and more businesses to CFI since it has been an excellent supplier with its practice of Lean manufacturing, which supplied OE exactly what they wanted when they wanted it, without waste and through continuous improvement. As for OE, CFI has provided customized products (sub assembled elevator parts) at lower cost and helped in reducing inventory and space which has its respective costs for OE. Custom Fabricator's Lean operation has also become its strength or competitive advantage. It has developed a strong lean production system composed of just-in-time production, strict quality control, frequent and reliable delivery, and near or proximate location with both supplier (Bedford) and customer. In addition, CFI also has an advantage in terms of cost since their product has lower costs due to the fact that CFI has inexpensive building, assured raw material supplies and loyal employees. (Exhibit A - Analysis of Internal and External Factors)

  • Word count: 1060
  • Level: International Baccalaureate
  • Subject: Business Studies
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A business plan is a document with a set of business goals. Its a decision making tool. Its purpose is to convince investors and lenders to join you in your venture.

The purpose of a Business Plan A business plan is a document with a set of business goals. It's a decision making tool. Its purpose is to convince investors and lenders to join you in your venture. It also allows you to make your mistakes on paper before investing your money and time. Issue 1: Generate Ideas and Define the Business focuses on the needs of customers, investors, lenders, employees, suppliers. These are the people that will help keep your business going so there needs are very important. The means by which you will keep them happy need to be written down into your business plan. Issue 2: Establish Financial and Personal Feasibility tests whether the time, money and the skills that are necessary to have a successful business are there. Sometimes it may be necessary to give up your savings, your current job, even put up your assets for collateral for a loan. Issue 3: Creating a Winning Strategy involves "identifying the competitive advantage that your product or service will have in the marketplace". This is the reason why your product will be chosen over the other. Issue 4: Analyze Potential Markets, your target demographic needs to be determined. There age, where they live, where they work, whether they are male or female. Issue 5: Develop a Marketing Campaign to let your potential customers know about your product. The magazines and newspapers that your

  • Word count: 519
  • Level: International Baccalaureate
  • Subject: Business Studies
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Exploring team developmentp4

Introduction In this part of the coursework I am going to be outlining hey features of legislation and regulations on health and safety as applied to working conditions in a selected manufacturing organisation and a service provider. The organisation I am going to be choosing to do this part of the coursework is Jaguar and also Bournville College. Health and safety is of the most important aspects in a business. A business can not open unless they have health and safety procedures in place. Jaguar has many different health and safety regulations in place they have to make sure they update it on a regular basis. This is because they have many staff working in their showrooms and factories around the U.K and around the world. The different health and safety schemes Jaguar will have and how they will put it in place are: Fire precautions act 9171: In the act it states the employers like Jaguar have to make sure they make plans for the safety of their employees and the employees have to cooperate with those plans. They have to make sure after they are inspected by the fire brigade they do the things the fire brigade tell them to do. Also because Jaguar are a car manufacturing company and they use highly flammable liquid they will have to make sure their fire safety plans are at high standard and make sure staff get regular training. This is where Jaguar will have to

  • Word count: 1246
  • Level: International Baccalaureate
  • Subject: Business Studies
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Case Study - Recovery Kitchens Ltd

Lara K. Business 11B 0th March 2008 Case Study - Recovery Kitchens Ltd What are the target markets of the business? The target markets of the business are people who want to buy a kitchen which is 'old' looking and suites the style of their house and people who are concerned about the environment, also known as environmentalists. Recovery Kitchens Ltd use recy.cled wood so therefore they appeal to the segment of their target markets who are worried about the environment. Due to the fact that the kitchens they produce are traditional so therefore look like aged kitchens they also attract those customers from their target market who want to buy an 'old' style kitchen. The company is also targeting a population which has a relatively high income, as the kitchens do not come cheap, due to reasons such as the cost of production. The target market of Recovery Kitchens is a differentiated market because kitchens are a very broad market however; kitchens using recycled and reclaimed wood are a niche market. Explain the internal and external factors that might affect the business. The internal factors that may affect Recovery Kitchens Ltd come from within the business itself. These could be positive or negative. Possible internal factors are: - Management of Resources - In some cases the wood may not be suitable to be prepared so then wood that has been bought by the company

  • Word count: 2395
  • Level: International Baccalaureate
  • Subject: Business Studies
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8Ps of Marketing

8Ps of Marketing Price: How much it costs for making the product, including free samples, premiums, discounts, taxes, payment terms etc. The pricing of a business is often a reflection of the market at which it is aiming. E.g. charging high price because aiming to sell to consumers who regard the product as exclusive. Pricing decisions should take into account profit margins and the probable pricing response of competitors. Promotion: Methods a firm can use to promote awareness of its products. This includes advertising, sales promotion, publicity, personal selling, PR and branding. A promotion method that is most likely to be most effective in the market in which the firm operates should be chosen. E.g. TV ads for high end products, 'next purchase vouchers' for fast moving consumer goods. Place: Place decisions are those associated with channels of distribution that serve as means for getting the product to target customers. The means by which the product is distributed to the consumers, making decisions about the way in which the product will be physically distributed, choosing the right place/time, how the product is sold. Decisions include market coverage, logistics, levels of service, target customer, accessibility, financial costs. Product: Businesses must make sure that their products are meeting the needs of their customers i.e. paying attention to the features.

  • Word count: 583
  • Level: International Baccalaureate
  • Subject: Business Studies
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Advertising Project

Advertisement Project Alexandra Piedrahita IB Business & Management Clinique New High Impact Curling Mascara. This is an advertisement for a new Clinique mascara which is supposed hold curls up to 24 hours. This advertisement has one main objective, it is trying to make consumers aware of this product. They are doing it because it is a new product (suggested because it says "NEW High Impact Mascara..") and is probably just been put out onto the market, so they want to increase awareness about it and encourage people to buy it. They do this by includinga little info on it, but half of the image is taken up by an actual image of the product to show consumers just what it is. The type of advertising this is is a mixture of informative and persuasive advertising. The ad does include quite a bit of information on the product, describing it in, the way it performs and what it does. For example, the advertisement tells us it is "Opthamoologist tested" and that it and that it's "Smudge, flake, smear-resistant formula holds for up to 24 eye-opening hours". It is also persuasive because it is convincing us that we should use it instead of a lash curler, which is why in the picture they put it parallel to a lash curler, and encourages us to buy it by asking us "Why suffer for beauty?" This advertisement came out of a "Cosmopolitan" magazine. It is clearly being directed

  • Word count: 1281
  • Level: International Baccalaureate
  • Subject: Business Studies
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Innovative Bakery in Greece Business Plan

Innovative bakery is a company that lifts the traditional meaning of the word 'bakery' on the Greek market. It is an establishment which produces and sells baked goods from an oven such as: bread, pies, bagels, pastries, cakes and cupcakes, biscuits, cookies, crackers, muffins, rolls, pretzels, doughnuts, and other items prepared by exclusive bakers. The unique type of bread, baked before inviting guests. Handmade cookies, nuts, sweets, all made with local recipes and ingredients of the Greek land,are only a few of the many unique traditional recipes, innovated in a modern way. The main goals are to have a healthy, successful company that is a leader in customer service and that has a loyal customer following. Objectives are annual sales targets and specific measures of customer satisfaction. Franchising is the main future target for the company to expand. High quality products made by the company along with competitive prices will keep the standards high. We also aim on providing hotels and restaurants and create products with the trademark of the company. Located in the suburbs of Athens we tend to provide costumers with high standard quality that meets their satisfation knowing also that the 'bakery' business is one of the most stable businesses in Greece. BREAD CONSUMPTION IN GREECE 2009 2010 Bread 8600 8800 Toasties 15500 16200 Nuts 2600

  • Word count: 969
  • Level: International Baccalaureate
  • Subject: Business Studies
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Management planning is essential for a company like Boeing due to its massive and complicated structure.

Management Planning David J Knox MGT/330 April 10, 2010 Matthew Handlon Management Planning Management planning is essential for a company like Boeing due to its massive and complicated structure. Boeing operates on global levels and provides products of all kinds to customers around the world. They manufacture high end aircraft for commercial and military organizations. These products manufactured primarily carry passengers, cargo, and execute military operations of the highest importance. The purpose of these aircrafts is sternly regulated due to performance concerns and safety. Within the United States, Boeing is regulated by the FAA, or Federal Aviation Administration. In order to operate an efficient business Boeing is required to conduct extensive planning. Playing a large role, management planning is the success of a company and all levels of the corporation's organization. Management planning is a process to set goals and objectives for an organization; this can be achieved over a set period of time. A plan can include tasks and activities that must be completed in order to reach the company's goals. Well thought out plans also take into account variables and unforeseen occurrences. By planning for unexpected situations an organization can avoid disarray that's associated with unforeseen problems or challenges. In Boeing's case, planning is critical with all

  • Word count: 1196
  • Level: International Baccalaureate
  • Subject: Business Studies
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