Tuesday, 1 October 2013

EVALUATING COMPANY’S RESOURCES, CAPABILITIES AND COMPETITIVENESS.

                                                                                                                     

Assalamualaikum to all readers…

I’m sorry because I was too late to update a new post. Do you know what I have learned in last week? Actually, in last week I have learned about evaluating company’s resources, capabilities and competitiveness. Ok, now I want to share with you what I have learned. Firstly, I learn the best indicators of a well-conceived and well-executed strategy are the firm’s achieving its stated financial and strategic objectives. Second, the firm is an above-average industry performer. After that, there are 7 key functional strategies which are:

Besides that, do you know what the meaning of market leader? For example, the market leader of petroleum is SHELL. Other example, the market leader of instant noodle is MAGGI. In addition, a capability or competence is the capacity of a firm to perform and internal activity competently through deployment of a firm’s resources. In easy words, capability is how the company to utilize the resources that they have. A firm’s resources and capabilities represent its competitive assets and are big determinants of its competitiveness and ability to succeed in the marketplace. The VRIN tests for sustainable competitive advantage ask if a resource is: VALUABLE, RARE, INIMITABLE, and NON-SUSTAINABLE. Other than that, I also learn about SWOT analysis. SWOT analysis is a powerful tool for sizing up a firm’s internal strengths (the basis for strategy), internal weaknesses (deficient capabilities), market opportunities (strategic objectives) and external threats (strategic defenses). 

A competence is defined as an activity that a firm has learned to perform with proficiency. In other words is a capability. Then, the concept of a company value chain is indentifies the primary activities and related support activities that create customer value. 

Lastly is benchmarking concept. It means a potent tool for improving a company’s own internal activities that is based on learning how other companies perform them and borrowing their “best practices”. Besides that, in strategic management principle, benchmarking is the costs of company activities against rivals provide hard evidence of whether a company is cost-competitive.

Thats all from me, thank you...JJ
HAPPY READING.. See you next week..JJ

Monday, 30 September 2013

COMPETITIVE ADVANTAGE (RESTAURANT)

Assalamualaikum to miss ummi and all my friends…JJ

Last week tutorial, we must do a task that given by Miss Ummi about competitive advantage activity: restaurants. After that, all groups must open a new restaurant and we must do a research about our direct and indirect competitor for new restaurant. For our groups, we think to open a new Korean restaurant. Then, our groups do an interview with three respondents who are 1 manager of a new restaurant and 2 regular customers for direct and indirect competitor restaurant. So, now you can follow the conversation between them…J

Interviewer: Assalamualaikum and very good morning. We meet again in the programme “walk walk search food”. Ok, today I will interview three persons who are the owner for a new restaurant and two persons who are the regular customers of the restaurant which are different concept for each restaurant. Ok, I starting with Miss Hafifah who is the owner of ‘KOYU RESTAURANT’. Can you describe your restaurant based on some factors such as price, location, reputation and the unique factors of your restaurant?

Miss Hafifah (owner): Thank you to interviewer. Ok, first of all, why I choose the koyu restaurant name because this is combination between Korean and Malayan foods. For our restaurant, the average price is between RM10-RM18. Secondly, the quality for our product or service is excellent. The location at KOMPLEKS SUKAN AIRPORT, NILAI. In our restaurant, the unique factors are we have a mix of dishes between Malayan and Korean food that is koyu set delight.

INTERVIEWER: Ok, thank you Miss Hafifah. How about you miss azureen as a regular customer of sushi king restaurant?

Miss Azureen: Thank you to interviewer. As a regular customer for sushi king restaurant, I think the average price at the restaurant is between RM8.90-RM35.90. The quality of product or service at sushi king is moderate. What I say moderate because the sushi king foods are not a Malayan people taste. But, the location of sushi king restaurant that I always go at GIANT, NILAI. It is because near with my house. What I see at the restaurant, I think the unique factors at the restaurant is they serve a Japanese food only such as mixed bento.

INTERVIEWER: Ok, thank you Miss Azureen. How about you Miss Munirah as a regular customer of mama’s restaurant?

Miss Munirah: Thank you to interviewer. As a regular customer for MAMA RESTAURANT, I think the average price at the restaurant is between RM4-RM10. The quality of product or service at MAMA RESTAURANT is good. What I say good because at the MAMA RESTAURANT all food are suitable with my taste or another customers. The location of MAMA RESTAURANT that I always go at ACACIA, NILAI.  But the restaurants have many branches such as at FEM and DESA JATI. It is because the owner is excellent to take the opportunity. What I see at the restaurant, I think the unique factors at the restaurant is they serve many eastern foods such as nasi kerabu, nasi kukus ayam berempah and many more. That’s all. Thank you.

INTERVIEWER: Ok, thank you to Miss Hafifah, Miss Azureen and Miss Munirah for spend your time in our programme. See you next time…

HAPPY READING ALL READERS.......:-):-)

Tuesday, 24 September 2013

Assalamualaikum to all readers…

Today, 25 September 2013 I want to share with you what I learn in yesterday lecture. In this week, we all are discussing about EVALUATING A COMPANY’S EXTERNAL ENVIRONMENT. What I understand in this chapter are about core concepts for external environment. The core concepts are PESTEL. PESTEL is stand for:

P	POLITICAL FACTORS
E	ECONOMIC CONDITIONS
S	SOSIOCULTURAL FORCES
T	TECHNOLOGICAL FACTORS
E	ENVIRONMENTAL FORCES
L	LEGAL AND REGULATORY FACTORS

From the lecture, basically I heard that there are 5 competitive forces in our company. The 5 competitive forces are:

-RIVALS                                      -SUPPLIERS

-SUBSTITUTES                          -NEW ENTRANCE

-BUYERS

In the end of observation, we must do a conclusion either condusive or not condusive. Besides that, competitive pressures that increase rivalry among competing sellers, competitive pressures associated with the threat of new entrants, competitive pressures from the sellers of substitute products, and many more. In conclusion, when we have a problem in our company, then there is an opportunity for another company to do the business. That’s all what I want to share with you. Thank you…JJ