Thursday, November 28, 2019

Michael Porters 5 Forces Essay Example

Michael Porters 5 Forces Essay Rivalry within an Industry (High) The intensity of competition in the kopi-kaya toast industry is high. Coffee Box competes with popular chains like Toast Box, Ya Kun Kaya Toast and Wang Cafe whom with their huge base of existing customer owns a major portion of the market share. The high rivalry among competing firms are also due to the similar offerings of menu items. Competitive Rivalry within an Industry (High) The kaya and toast industry is one of highly intense competition, very much like the rest of Singapores Food and Beverage sector. It is in such competitive environment that this company would operate in, under pressure from major chains that currently lead the market, such as the Ya Kun Kaya Toast, the Toast box owned by the BreadTalk Group, and the Killiney Kopitiam. Threat of New Entrants (High) A key contributor to the proliferation of this kopi-kaya toast business is its low entry barrier. The need of expertise in toast and coffee, if even any, can easily be acquired and new entrants can effortlessly familiarize themselves with most of the operation in this business. Barriers to entry (Low) One major factor that has contributed to this seemingly lucrative business of traditional kopi and toast, is its low barriers to entry. There is minimal requirement of field expertise, an average sum of budget and a less demand for capital or resources. We will write a custom essay sample on Michael Porters 5 Forces specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Michael Porters 5 Forces specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Michael Porters 5 Forces specifically for you FOR ONLY $16.38 $13.9/page Hire Writer This low barriers to entry has, especially in the past two decades, see the tremendous growth of this kopitiam business, also justified by its growing popularity among local market. Threat of substitute products (Low) The threat of substitute products in the traditional coffee-and-toast business is low, with western chains such as Coffee Beans or the famous Starbucks as potential candidates. However, majority of the local market business professionals including appear to be loyal customers in traditional cafes rather than the western brands. Known as the quintessential breakfast for generations of Singaporeans, the threat of substitute products in this industry is low as yet. Threat of substitute products (Low) Many business analysis and researches over the years have come to show that the surprisingly low threat of substitute products in this kaya and toast business, has added a stability dimension to this industry. Despite the challenges from western cafes, with all its modern offer, the traditional cafe business remain strong and firm among the mainstream. It appears that the local market has, apart from all alternatives choices that they could have choose or might have choose, preferred the traditional toast of bread and kaya, along with a cup of coffee not made of modern machines, but brewed from the more appealing coffee-socks method. Bargaining Power of Suppliers (Low) The large number of existing suppliers in the local food and beverage industry has resulted in a relatively low bargaining power of suppliers. Suppliers in this industry are weak in terms of bargaining power, also due to the standardized pricing of ingredients like flour and eggs. The quality of such ingredients do not vary significantly in quality, which also contributed to lowering the bargaining power of suppliers. Bargaining Power of Suppliers (Low) The huge amount of suppliers in the coffee and toast business, which apparently is still growing in numbers, has given the traditional cafe owners substantial amount of bargaining power over themselves. A more informal way of saying it is that traditional cafe owners in this business are in fact, spoiled with choices, and not without reason. It is because most owners in this industry are operated on a franchise model, or on a similar chains model, their bulk purchasing have lend them significant strength which favors them over suppliers in negotiating terms. Bargaining Power of Customers (High) Customers are powerful in terms of making decision given the wide variety of choices in this sector. Customers are able to switch between choices, depending on factors like price and place (location). The local cafe business that has been flourishing in the recent past years also ensure a low switching cost that guarantee customers substantial purchasing power. Bargaining Power of Customers (High) The customers have a good reason to embrace the flourishing of this traditional cafe business, as it now means that they would have the luxury of choosing from a wide variety of choices for their moment of traditional coffee, or more commonly known as kopi, and the favourite kaya toast. A high bargaining power of customers explains a freedom to choose between options, with a low switching cost. Price-sensitive customers would opt for cheaper alternatives and companies should be well aware of this buying power in order for them to remain competitive in business.

Sunday, November 24, 2019

6 Tips for Becoming a Great Administrative Assistant

6 Tips for Becoming a Great Administrative Assistant Working as an administrative assistant can be an exciting job with many different duties. Employers seeking an administrative assistant look for certain talents and attributes to pick the right individual for the job. Learning a few tips to become a great administrative assistant makes your work easier and puts you in the spotlight for potential raises and a higher standing with your company.Fine Tune Your Skills With AppsThe ability to use Microsoft Word, Excel and Outlook is a given when working as an administrative assistant. However, increasing those skills adds to your professional abilities. For example, by learning how to make a PowerPoint presentation and having the ability to use other apps that are useful to the company, you increase your skills and your worth as an administrative assistant.Heighten Your Communication SkillsExcellent communication skills within the office environment is necessary to be a successful administrative assistant since this individual is often the first one approached with questions. Frequently, the administrative assistant writes letters, memos and handles correspondence. The use of proper grammar and punctuation can benefit from taking courses to improve writing skills. In addition, an administrative assistant deals with the public and is often the first contact with a client. The ability to handle communication needs and service to the public is a measure of an administrative assistants ability to do a superlative job.Work on Your Organizational SkillsThe organizational skills of an administrative assistant are important because you have to lay your hand on a document or file quickly. Finding an organization system that works well for both executives and staff is important. Ensure that calendars and work are kept up to date and proceed on schedule. The additional ability to foresee what needs attention next helps ensure that work gets done in a timely manner and helps your boss free more time for other concerns.Learn How to Oversee the Office EquipmentIt is important to an office that computers, copiers, fax machines and other equipment are operational and in good working order. The administrative assistant can have the duty to ensure that equipment is repaired. In addition, supplies needed to run the office, from copy paper and ink cartridges to writing paper and pens, are the responsibility of the administrative assistant. Keeping a close eye on inventory and reordering when necessary ensures that the office will continue to run smoothly.Display Your Leadership AbilitiesBesides the qualifications on your resume, having experience outside the office shows that you have an interest in learning and are a team player. Professional organizations and work as a volunteer looks good on a resume and shows your commitment to professionalism.Act in a Professional MannerAlthough you probably have a friendly relationship with your co-workers, it is important to remember that you are in the office to do your jo b and a serious attitude toward work is expected. Maintaining a professional demeanor, avoiding gossip and keeping quiet about company business is a vital quality for an administrative assistant.If you are looking for administrative assistant jobs, turning to TheJobNetwork is a great first step toward getting a job as an administrative assistant. This platform lets you enter your qualifications and the job you want. Working 24/7, TheJobNetwork searches all applicable positions, ranking them as to your preferences. An email is sent to your mailbox when a job is located and lets you apply in a timely fashion.

Thursday, November 21, 2019

The case study of Coca-Cola will be provided by file .pdf. Read

The of Coca-Cola will be provided by file .pdf. Read throught it and then answer 4 questions in there. After that, di - Case Study Example Moreover, by early 1985, Pepsi had managed to acquire 2% sales of the huge market that amounted to $960 million in retail sales. Therefore, this called for change of strategies by Coca-Cola and their option was to introduce a new product that offered the same feature like their competitors. In this case, they had to conduct a research in order to introduce new product to market. After the investigation, they identified that Pepsi was offering a product that had a sweeter taste and this contributed to a growth in the preference resulting to increased market share. Coca-Cola commenced a research project, whereby they spent two years and $4million prior to settling on a new formula. They conducted 200, 000 taste test on the final formula and a blind test, whose results were sixty percent of the consumers choosing the new formula over the old one. In fact, fifty-two percent of the customers choose it over Pepsi, and this was an indication that new coke would assist in dealing with the pr oblem of losing the market share to Pepsi. 2. ... Moreover, Coca-Cola should have focused on the conducting a marketing research considering these emotions. Furthermore, there was a poor judgment during interpretation of research planning strategies by the managers. The poor judgment occurred when they found sixty percent of consumers who preferred the new Coke taste and this led to an assumption that the new coke would be the solution to their problem. However, this did not view this assertion in the basis on the other 40% who were still royal the old Coke; thus, they ended up trampling with the tastes of the royal customers who were not willing to accommodate the change of the taste. Therefore, the company should have focus on introducing the new Coke as a brand expansion and leave the old Coke like what happened with Cherry Coke. Coca-Cola Company had an advanced marketing research operation and their strategies have made them to be at the top of the market. However, in this their market was not based on scientific theories that could have assisted in understanding the consumer behaviors. 3. Companies such as Coca-Cola often test new products in plain white paper cups with no brand names or other marketing information. What does this ‘blind’ testing really measure? Does applying these results to the ‘real’ world raise any issues? Bind testing is aimed at measuring the actual response of the customers to a certain feature of the product without the influence of the brand name or other marketing information. Therefore, the consumer is expected to review the product without the ideas of the manufactures in their minds and these reviews are applied in rating the new product that is yet to be introduced into the market. For instance, Coca-Cola was seeking to settle the new