Governing Business Activity Essay Example | Topics and Well Written Essays - 1500 words

Governing Business Activity - Essay Example Therefore, organizations must ensure that they have a competitive edge that will guarantee prosperity of the firm. Notably, competitiveness varies with certain factors. First, the industry in which the entities operate. Secondly, the size of the firm affects competitiveness significantly. Evidently, these factors have significant implications on competiveness. This write–up will discuss competitiveness in relation to the size of the entity. This write-up will also relate competitiveness to adaptation of large or small organizations to changes in the business environment (Harry & Normand 1996, p. 122). Competitiveness encompasses the ability of an entity to manage factors such as government, suppliers, rivals and customers. Suppliers provide an entity with inputs required to create products. Therefore, an entity should manage suppliers to ensure that costs do not spiral out of control thus, reducing an entity’s profitability. The government affects an entity’s com petitive edge by the policies it enacts (Pfeffer 1995, p. 234). Higher taxation reduces competitiveness. Conversely, tax cuts increases competitive edge since they entity can offer its clients products at reduced prices. Rivals are other partakers in the sector that are in direct competition with an entity for clientele or any other factor that is central to the undertakings of an organization e.g. raw materials. Therefore, rivalry reduces competitive edge since some competitors may opt for price cutting strategy to eliminate competition. This is a strategy utilized by large monopolistic entities, which seek dominance. The above factors influence competitiveness immensely as revealed above. However, their impact on competitiveness varies owing to the size of an entity (Pfeffer 1995, p. 231). A large firm has massive resources. As such, the entity has an enormous bargaining power, large market segment, and it operates on a massive scale. The above factors contribute significantly to the competitiveness of an entity. A large entity has the resources to undertake a far-reaching marketing. This will enhance its chances of boosting its sales. In contrast, a small organization does not have the resources to fund such campaigns. This reduces the chances of such an entity boosting its sales. An entity requires input to create its merchandise. Acquiring such inputs is tricky for smaller firms. Suppliers prefer large-scale purchasers. Consequently, large firms receive discounts form supplier decreasing their overheads. Contrary, small firm incur the full cost of their purchases. This means they do not benefit from discounts from supplier. The suppliers also treat large-scale purchasers in preference. If a shortage emerges, the smaller organizations will not receive any inputs. Large firms operate on a colossal scale allowing the entities to capitalize on economies of scale. Consequently, such entities incur minimum cost per unit product (Pfeffer 1995, p. 123). This allo ws such entities to offer reduced prices since they incur minimal costs. However, smaller firms incur higher costs per product. This reduces the ability of such to offer reduced prices. This decreases the competitiveness of smaller firms. In the analysis of the competitive edge, it is essential to evaluate the competitive advantage of firms based on innovation. A large firm has the means to invest in research. The research will contribute

Integrated Marketing Communication Case Study Example | Topics and Well Written Essays - 3250 words

Integrated Marketing Communication - Case Study Example The present research has identified that along with the internal marketing, the integrated marketing communication is also one of the important concepts because it is only with the help of the integrated marketing communication that how and why the product becomes more important and how the customers are influenced to buy that particular product. Integrated marketing communication is the most important process and with the help of which any brand can gain success and can gain popularity too. Gaining success is the most important for any company. According to the American Marketing Association, Integrated Marketing Communication (IMC) is termed as a planning process which is designed to assure that all the brands which are created are according to the needs and demands of customers. (IMC) integrated marketing communication is termed as a holistic approach to the marketing level. Along with this, the concept of integrated marketing communication also consists of the offline and online marketing channels. Online marketing channels basically consist of different kinds of e-marketing programs or campaigns, from the different level of search engine optimization, different kinds of the email banners and also the pay per click programs. Whereas on the other hand, the offline marketing channels are one of the main examples of the traditional prints like newspaper or magazines. These above-mentioned marketing channels are the main source for any kind of company in order to provide such working environment where people can work easily and can generate better results. Marketing channels basically provide the target through which any company can identify its customers in order to achieve their targeted goals. It is all because of the marketing channels that how the company is working and how their products are becoming more popular among people. When a company launches any product, only half of the work is done and almost half is left. The work which is left is the main and one of the most important works that are how to make this produced product popular among people. People can only know about any product with the help of marketing. When the marketing is done for that product only then everyone will know that what exactly the product is and what it actually means. There are several kinds of strategies which are related to (IMC) integrated marketing communication in order to develop into a primary and the most important tool for the market: - Media advertising towards the multiple kinds of communication. - Mass media towards the most specialized media also known as niche media. - Manufacturer dominating market towards a retailer dominating a market. - General kind of the focus advertisings towards the data based marketing. All the above-mentioned strategies are very much important in the area of integrated marketing communication as it plays an important role because if there are no strategies company can gain no profit and therefore in the result, i t will suffer loss. Nowadays integrated marketing communication has become a wide perspective which is now also done via internet. Now everything can be done via internet and via networking.