Differentiation Strategy Essay

In this paper work we will talk about Differentiation Strategy. In contrast to the cost leadership strategy, implementation of a differentiation strategy means that value is provided to customers through the unique features and characteristics of a company’s products rather than by the lowest price. Because differentiated products satisfy customers’ unique needs or preferences, companies can charge premium prices for differentiated products. For the company to be able to outperform its competitors and earn above-average returns, the price charged for the differentiated product must exceed the cost of differentiation. In other words, the price charged must exceed total product cost. Because of this, the differentiated product’s premium prices generally exceed the low price of the standard product. Companies that follow a differentiation strategy concentrate or focus on product innovation and developing product features that customers value rather than on maintaining the lowest competitive price (as is the case for the cost leadership strategy). Products can be differentiated in a number of ways so that they stand apart from standardised products: superior quality unusual or unique features more responsive customer service rapid product innovation advanced technological features engineering design additional features an image of prestige or status For example Intel uses speed, innovation, and manufacturing techniques as bases of uniqueness. The company’s focus throughout its primary and secondary value-creating activities is on establishing the importance of quality, accuracy, speed, and responsiveness. The focus is also on understanding and meeting customers’ unique preferences and monitoring the speed, reliability, and quality of activities provided by others that interface with the company’s inbound and outbound logistics. |Differentiating Features That Raise the Performance a User Gets | |To enhance the performance a buyer gets from using its |Meet the buyer’s needs and requirements more completely, | |product/service, a company can incorporate features and |compared to competitors’ offerings. | |attributes that |Give buyers the option to add on or to upgrade later as new | |Provide buyers greater reliability, durability, convenience,|product versions come on the market. | |or ease of use. |Give buyers more flexibility to tailor their own products to| |Make the company’s product/service cleaner, safer, quieter, |the needs of their customers. | |or more maintenance-free than rival brands. |Do a better job of meeting the buyer’s future growth and | |Exceed environmental or regulatory standards. |expansion requirements. | Source: Adapted from Michael E. Porter, Competitive Advantage, (New York: Free Press, 1985).   However, companies following differentiation strategies cannot completely ignore costs and the need for minimal spending on process-related innovations. A company that successfully implements a differentiation strategy can earn above-average returns even when the five competitive forces are strong. Rivalry with Existing Competitors Achieving customer loyalty means differentiating products in ways that are meaningful to customers. Brand loyalty means that customers will be less sensitive to price increases. As long as the company satisfies the differentiated needs of loyal customers, it may be insulated from price-based competition. Bargaining Power of Buyers (Customers) Through meaningful differentiation, companies develop products that are considered unique. This uniqueness may insulate the company from competitive rivalry and reduce customer sensitivity to price increases (similar to the insulation from rivalry with  existing competitors). By satisfying customer preferences in ways that no competitor can, companies also are able to charge higher prices (because there are no comparable product alternatives). Bargaining Power of Suppliers Because the differentiator charges premium prices, they are somewhat insulated from suppliers’ price increases (as the differentiator can absorb a greater level of cost increases from powerful suppliers through its higher margins). Alternatively, because of lower price sensitivity by customers, differentiators may be able to raise prices to cover increased supplier-related costs. Because of the differentiator’s focus on product quality and responsiveness to customer preferences, suppliers also may be forced to provide differentiators with higher quality materials, components, or services. Potential Entrants The principal barrier to entry is customers’ loyalty to the uniquely differentiated brand. This means that a potential entrant must either overcome (or surpass) the uniqueness of existing products or provide similarly differentiated products at a lower price to increase customer value. Product Substitutes Brand loyalty may effectively insulate differentiated products from substitutes. Without brand loyalty, customers may switch to substitutes that offer similar features at a lower price or to products offering more attractive features at the same price. Like the cost leadership strategy, the differentiation strategy also carries risks.   Customers may decide that the cost of uniqueness is too high. In other words, the price differential between the standardised and differentiated product is too high. Perhaps the company provides a greater level of uniqueness than customers are willing to pay for. The company’s means of differentiation no longer provides value to customers. For instance, what is the value of prestige or exclusivity? And, how long will they last as customers become more  sophisticated? Customer learning may reduce the customer’s perception of the value of the company’s differentiation. Through experience, customers may learn that the extra price paid for a differentiated product no longer has the value that it once did. This loss of value through customer learning or changes in customer perceptions can be illustrated by the experiences of IBM. Initially, the IBM name on a personal computer signalled value to customers; however, clones soon challenged IBM’s pre-eminent position in the PC market. As customers learned that the clone machines offered similar features at lower prices, the value attached to the IBM brand name diminished and IBM’s sales continue to suffer. A fourth risk is concerned with counterfeiting. Increasingly, counterfeit goods (products that attempt to convey differentiated features to customers at significantly reduced prices) are a concern for many companies using the differentiated strategy. In the event of any of the above, differentiators are challenged to increase value to customers. This may mean reducing prices, adding product features without raising prices, or developing new efficiencies in its value chain of primary and secondary activities.

Single Parenthood: Literature Review

Single Parenthood: Literature Review2 This paper will look at the different research that has already been conducted on single parenthood. Possible research topics could be how single-parent families differ in their structure or financially, in contrast to households with two parents. Articles may also discuss the impact of single parent households on children, in terms of psychological impact, academic results, social and financial standings using statistics found in their research. By looking at articles done through American and Canadian research, it can be determined what research is missing, what the articles lack and possible suggestions to improve the substance of the materials listed. Economic Viewpoint In each article , different points were made about the financial hardships that children from single-parent households may experience and how it was much more likely they would experience them in comparison to children raised in a household with two parents. Lisa Calderwood, from London University’s Institute of Education, says, â€Å"Living apart from natural fathers can be associated with poverty and negative outcomes for children. †(Calderwood, 2010). Though not all single-parents are mothers, but Tim Casey, a senior staff attorney at Legal Momentum,( the U. S. ’ oldest organization advocating on behalf of the legal rights of women and girls. )â€Å"Employment isn’t keeping U. S. ingle parents — more than 80 percent of whom are single mothers — out of poverty. † (Casey, 2012). Here it states that not only are the majority of single parents single mothers, but that the income provided to these mothers is generally still not enough to keep them above the poverty line even though, â€Å"single mothers in the U. S. are employed more hours and yet have much higher poverty rates than their peers in other high-income countries. †(Casey, 2012). Single Parenthood: Literature Review 3 Paul Amato, a Professor of Sociology and Demography at The Pennsylvania State University, makes a good point saying due to lack of funds, â€Å"It is difficult for poor single parents to afford the books, home computers, and private lessons that make it easier for their children to succeed in school. †(Amato, 2005). This is a direct linkage with the academic success of children from single-parent families, which will be discussed later in the essay. Amato makes several good points, also saying, â€Å"they cannot afford clothes, shoes, cell phones, and other consumer goods that give their children status among their peers. (2005) Again this is in direct correlation with self-esteem issues that are more common in children raised by single parents. â€Å"Consistent with these observations, many studies have shown that economic resources explain some of the differences in well-being between children with single parents and those with continuously married parents. †(Amato, 2005). Amato makes the observation that many differences between children raised in single-parent households versus children raised with both parents can be explained by the financial difference brought on by a single income. An article stating that â€Å"Children raised by single mothers are twice as likely to misbehave as those born into traditional two-parent families† , (Paton, 2010), also says that â€Å"studies have found children raised by lone mothers are likely to have less economic security†(Calderwood, 2010)which the article implies influences the behaviour of the child raised in said type of household here: â€Å"parental qualifications and household income had a major effect on children’s behaviour at a young age, which could have â€Å"damaging long-term consequences. After looking at the findings from the different sources, it can be said that it is a fact that single-parent households are worse off financially than households with both parents. This is not only for the parents taking care of their children, but for the academic and social development of the children as stated by Amato (2005). Single Parenthood: Literature Review4 Academic Viewpoint Academically, the studies provide information which states that children from single-parent families do worse academically than those raised by both parents. They are twice as likely to drop out of high school, 2. 5 times as likely to become teen mothers, and 1. 4 times as likely to be idle. † (McLanahan , 2001). Here, Sara McLanahan states that studies have shown that children raised by single parents are more likely to drop out of high school, more likely to become teen parents and more likely to be out of school and without a job. As mentioned earlier by Paul Amato (2005), children raised by single parents cannot afford many things that could greatly benefit them in school such as â€Å"books, home computers, and private lessons. † (Amato, 2005). Paul Amato also states â€Å"In a meta-analysis of sixty-three studies of non-resident fathers and their children, Joan Gilbreth and I found that children had higher academic achievement when non-resident fathers were closely involved in their lives. † (Gilbreth & Amato, 2005). In her article, Sara McLanahan says that family disruption is not the same in all families and risk of failure in school varies among different American nationalities: â€Å"Family disruption increases the risk of school failure by 24 percentage points among Hispanics, 17 percentage points among whites, and 13 percentage points among blacks. (McLanahan, 2001). This is a pattern that is also consistent when it comes to dropping out. â€Å"Behavioural problems were less likely among children living in families with higher levels of parental qualifications. † (Calderwood, 2010) Here, Lisa Calderwood discusses behavioural problems among children raised in single-parent families, especially when it c omes to academics and found that these types of issues were more frequent in children raised by a lone parent. Single Parenthood: Literature Review5 In a chart from the National Study of Adolescent Health (1995), statistics can still show how there is a visible difference in the patterns of children raised by a lone parent, versus children raised by two. Nineteen percent of children raised by two parents had repeated a grade, compared to 30 percent of those raised by a single parent had repeated a grade, (1995). The chart shows this, as well as other categories such as, violence, delinquency, suspended, attended therapy, had smoked in the past month, attempted suicide and had thoughts of suicide. In each of the categories, the percentage of children who had done these things from a single parent household, was consistently higher than the percentages of those raised by both parents. (National Study of Adolescent Health , 1995). Emotional Nina Parry-Langdon , the author of a report done by the Department for Health and The Scottish Government, finds that â€Å"Children from broken homes are almost five times more likely to develop emotional problems than those living with both parents. †(Parry-Langdon, 2008). She specifies further to say that, â€Å"Children and young people in households of ‘reconstituted' families, particularly where there were step-children, were more likely to develop conduct disorder as were those in families which had two parents at Time 1 and one parent at Time 2. † (2008). It is important to realize that not all children that are raised by single parents, have never been raised by two parents. Here Nina points out that distress in children raised in blended families, is similar to that of children who have been through a parent’s divorce. After interviewing 5,364 children aged between five and 16 in 2004 and again last year, the researchers found that 3 per cent had developed problems over that time. †(Parry-Langdon, 2008). Again, this article makes a point to mention how quickly being Single Parenthood: Literature Review6 raised in a single-parent family can take its toll, in this case, in as little as three years’ time before con duction their second round of interviewing. From Paul Amato’s article, he states that â€Å"Interviews with children reveal that losing contact with fathers is one of the most painful outcomes of divorce. † (Amato, 2005). This shows that children are obviously impacted by the loss of contact, which can be compared to grief. Also in his article, Amato says that children from single-parent households have more exposure to stress, through many circumstances such as dealing with the financial burden, the inter-parental conflicts and in many cases having to move homes after the separation of parents. (2005) Tying in directly with stress Amato reveals, â€Å"[a study] based on a large sample of twins, found that growing up in a single-parent family predicted depression in adulthood even with genetic resemblance controlled statistically. †(Amato, 2005). This can partly be credited due to the high exposure to stress, stated above. He concludes by saying, â€Å"evidence strongly suggests that growing up without two biological parents in the home increases children's risk of a variety of cognitive, emotional, and social problems. † (Amato, 2005). In conclusion, after viewing these articles, there is much evidence to support the thesis that children from single parent households suffer in comparison to households in which both parents reside with their children. Further topics that should be considered are geographical patterns, as it seemed most of the research was focused at the United States. Another suggestion for the articles would be to gather more personal information from children of single-parent households, rather than cold statistics. The statistics make it easy to dismiss the reason behind the negative results, as opposed to hearing from children who are being raised by single parents to hear how they feel and why they feel they are suffering in certain aspects. Single Parenthood: Literature Review8 The articles did a good job at looking at the different categories including, financial, academic, and emotional issues that stem from single parenting. Out of the articles, Paul Amato (2005) and Sara McLanahan ( 2001). Research available from reputable sources on the topic of single parenthood is limited and its importance as an issue in North American society is diminished as ‘normal’, despite its serious impact shown in said articles. Work Cited Kaufmann, G. (2012, 12). This Week in Poverty: U. S. Single Mothers- ‘The Worst Off'. Moyers ; Company. Retrieved 04, 2013, from http://billmoyers. com/2012/12/24/this-week-in-poverty-us-single-mothers-%E2%80%94-%E2%80%98the-worst-off%E2%80%99/ Amato, P. (2005, 11). The Impact of Family Formation Change on the Cognitive, Social, and Emotional Well-Being of the Next Generation. The Future of Children. Retrieved 04, 2013, from http://futureofchildren. org/publications/journals/article/index. xml? journalid=37 McLanahan, S. (2001, 12). The Consequences of Single Motherhood. The American Prospect. Retrieved 04, 2013, from http://prospect. org/article/consequences-single-motherhoodleid=107 §ionid=690 Paton, G. (2010, 04). Children in Single-Parent Families ‘Worst Behaved'. The Telegraph. Retrieved 10, 2013, from

Rhetorical analysis of How to Mark a Book Essay Example | Topics and Well Written Essays - 500 words

Rhetorical analysis of How to Mark a Book - Essay Example The first category includes people who are fascinated by the exterior or superficial outlook of the books; the second category includes people, who collect a lot of books, yet they are partially aware of what is in their collection; and the third category belongs to those who own books as they are supposed to be owned. Adler emphasizes on the importance of the essence and the knowledge that is preserved in the books, and his third type of book owners have this habit of reaching to crux of the information that is locked in words. The author has compared reading books with consuming beef steaks. According to him one must not read through the books, like gulping food hastily. Rather a reader must read and digest every point in the book, like he is chewing and digesting a tasty meal. Further, he gives example of President Hutchins, who was according to him a learned person with the passion of reading. While quoting Hutchins case, the author tries to elaborate the importance of writing on books, and on margins on the printed pages. Adler admits that writing, while reading a book may be a laborious act, and it definitely consumes more time than just simply reading, but he says that this is actually how one can give respect to the ideas that are documented in book. However, he does not want the readers to condition reading with labor, he appreciates the relaxed mode reading of fiction and other easy to digest literature. Further, he suggests that consuming few books properly is better than reading through a library, and he compares it with human sociology, where he suggests that it is better to have few friends than having thousands of acquaintances. To encourage his readers for adopting the habit of writing through lines, he has offered a hypothetical protocol that could be used by the readers, when they start reading their next book. Overall the main theme of this article was to make readers learn how to extract the maximum

Air Export Procedure Benchmarking for Thai Customs Process Literature review

Air Export Procedure Benchmarking for Thai Customs Process - Literature review Example Supply chain also includes coordination and collaboration between channel partners, who are suppliers, third party customer service providers, intermediaries and customers. According to Chen and Paulrag (2004), supply chain is the movement of materials right from their source to the end customer ,an illustration is given in the table below. Source: Chen and Paulrag (2004). Nagurney (2006) points out that supply chain is made up of the people, activities and resources including information involved in moving a product right from the supplier to the consumer. It is important tot note that note that multinational and international companies have incorporate exportation into their supply chains. Supply chain is no longer contained within country borders due to international trade and globalization. Supply chain can is involved on an international level at almost all the stages, whether it is vendor, manufacturing or at customer level. According to Murray,(2010), the global supply chain c ontinues to be complex and there is need for companies to adopt relevant ideas into their supply chain strategies. ... y performs in the export market is an antecedent to the firms committement in exporting, it also affects the manner in which managers define the various export strategies they use (Singh, 2002).It however clear that to effectively compete in the export market, affirm should ensure that there is appropriate logistics as they play a very vital role in the performance of the country’s export market. According to Cook (1999), firms around the world need to analyze marketing mix, the existing international environment the supply and demand network, strategies and marketing information as a pace setter for the way in which in the export market should be approached to maximize the potential in the foreign market share. Supply chain management in the export market could be related to corrective and preventive measures and customer service. Given that the supply chain management is crucial in the performance of the export market, countries should work towards establishing an efficient and effective customs administration for reliable services. According to Chowdhury,(1992) every country has a definite custom administration that is in accordance with its economic policies. A custom is an agency in a country that has the responsibility of safeguarding customs duties , collecting duties and controlling the movement of goods in and out of the country. Depending on a country’s policies and local legislation and regulation, some countries may not allow specific goods into or out of their territories due to some specific reasons. For example importation of goods that are highly manufactured within the country is prohibited by most customs to protect the businesses of local manufacturers. According to Widdowson (2008) customs duty is a tariff levied on all the goods that exported

THE INFLUENCE OF LEADERSHIP AND HIGH PERFORMANCE (HRM) SYSTEMS ON Thesis

THE INFLUENCE OF LEADERSHIP AND HIGH PERFORMANCE (HRM) SYSTEMS ON PATIENT SAFETY MEDIATING BY ORGANIZATIONAL CLIMATE IN SAUDI HOSPITALS - Thesis Example lted in hospitals beginning to provide integrated health care services which was qualitatively made even better through technological adaptations (Lighter and Fair, 2004, p.7). As the hospitals grew in size, capital and functions, a considerable work force began to get aligned with it resulting in a scope and need for applying management and human resource concepts and frameworks into them (Hernandez, 2009, p.4). This was also a result of health service as a sector being highly â€Å"labor intensive† (Hernandez, 2009, p.4). It is this evolving work environment in health care sector that is transforming all its outcomes including patient safety (Ngo, Foley and Loi, 2009, p.668). This evolving work environment is what constitutes organizational climate of a health service organization and it is â€Å"the frame of reference through which individuals (workers) make sense of organizational life† in a health care facility (Ngo, Foley and Loi, 2009, p.668). Hence, organizational climate can be viewed as one of the most important mediating element in patient safety (Walston, Al-Omar and Al-Mutari, 2008, p.35). This mediation happens through human resource management. Though there can be many aspects to human resource management that can lead to patient safety, this study envisages focusing on two specific elements of it, namely, leadership and high performance work systems (HPWS). The research done so far in this area have mostly generated data on how leadership and HPWS help build an organizational climate suitable for patient safety (Richardson and Storr, 2010; Stewart and Usher, 2010; Combs et al., 2007). Yet, these studies have also pointed to the lack of sufficient investigation being made into the whole process that starts with leadership and work force, evolves through organizational climate and arrives at desirable level of patient safety. This literature review envisages weighing the opposing arguments on the role of high performance work systems and leadership in

Strategic Staffing Handbook Essay Example | Topics and Well Written Essays - 2500 words

Strategic Staffing Handbook - Essay Example Rather, expanding the traditional approach, it principally turns the existing staff members from being reactive to a proactive nature. It actually complies with the just-in-time supply chain management with regard to the operational process that mainly involves the management of the talent supply in order to ensure right people in appropriate position at right time (Bechet, 2008). Strategic Staffing handbook is theoretically regarded as a medium that provides the employees with detail information of the organization as well as the employment terms. Strategic Staffing handbook usually entails polices, rules and the procedures being operated within the organization. It also entails the details of the employment contract. It frames an important Strategic Human Resource Management (SHRM) tool within any organization providing the entire internal scenario of the organizations’ operations and its prevailing policies and procedures. Hence, it is vital for the staff to go through the staffing handbook with great care as the staffing handbook not only gives details about the assigned roles along with the responsibilities of the employees, but also intends to discuss about the company’s human resource quality. It provides an insight on the job analysis segment and the approaches to the process of the job analysis consequently. Apart from this, the handboo k also provided an overview about the employment details. Strategic staffing for our company reflects about the process, which has been into application in order to identify the implications of the selected staff members. The application of the strategic staffing principally addresses the impacts of staffing on our company’s business strategies along with the advanced plan. Apart from this, our company also implements the notions of strategic staffing in order to gain ideas about the prevailing issues that reflect about the gap or surplus with regard to

Fauvism Essay Example | Topics and Well Written Essays - 250 words

Fauvism - Essay Example In Gauguin’s painting, pure and flat red was used to present the message in full intensity so as to point out the seriousness of the subject matter. Red can also be related to anger or passion (Art Factory, n.d.; Elements of Art). Famous fauvism painters include Henri Matisse, Andre Derain and Raoul Dufy. Henri Matisse (1869-1954) painted The Roofs of Collioure (1905, oil on canvas) and The Open Window, Collioure (1905 oil on canvas). Andre Derain painted the Portrait of Henri Matisse (1906 oil on canvas) and The Turning Road at LEstaque (1906 oil on canvas). On a personal notion, I agree with the view of the artists of fauvism. Colours can depict feeling. It can also affect the feeling of the beholder of the artwork. For example, in a painting about war, red and black is commonly the most prominent. The present era though also commonly practice the notion that colours can bring the emotional element of the painting, thus, depicting the effect of fauvism. It can also be considered impressionist in nature since prioritizing colour can mean that the painting does not follow the realistic colours of the subject e.g. Andre Derain’s Portrait of Henri Matisse (1905). In conclusion, fauvism has great effects in the present view of visual arts regarding colours. It also contributed to the freedom of using colours outside the confines of realism or how subjects may have appeared in