Analysis Tools Value chain Five forces Threat of New Entry (Weak): • Large amount of capital required • High retaliation possible from existing companies, if new entrants would bring innovative products and ideas to the industry • Few legal barriers protect existing companies from new entrants • All automotive companies have established brand image and reputation • Products are mainly differentiated by design and engineering quality • New entrant could easily access suppliers and distributors • It is very hard to achieve economies of scale for small companies • Governments often protect their home markets by introducing high import taxes Supplier power (Weak): • Large number of suppliers • Some suppliers are large but the most of them are pretty small • Companies use another type of material (use one metal …show more content…
TPS is based on the Lean Manufacturing concept. This concept also includes innovative practices like Just in Time, Kaizen, and Six Sigma and so on. Toyota has worked tirelessly over the years to establish this distinctive competence. No other automobile manufacturer can do it as well as Toyota does. This distinct competence has led to a competitive advantage that has given Toyota a sustainable brand name and a market leader position. BCG Matrix High Relative Market Share Low Relative Market Share High market growth STAR • Lexus- luxury sedans • Prius hybrid • Land Cruiser SUV QUESTION • Scion – for youth in USA • Camry / Corolla – as hybrids • Bio –fuel, Solar –powered , hydrogen gas • Diesel engine cars for India, Southeast Asia • Small cars for India / China • More SUVs and MPVs : Fortuner Low market growth CASH COW • Camry , Corolla sedans • Innova , Venza –MPV • Daihatsu -small cars DOG • Celica , MR2 -for youth • Tundra –pick-up • Crown, Cressida, Corona, Quails:
The day that nascar was officially formed was February 21, 1948. However, long before that bootleggers from the south would soup up their cars. They did that because alcohol was banned and they wanted to be able to consume and produce alcoholic products without getting caught by the law. Therefore, they made their cars faster than the police. A marketing activity is a way that a company builds brand awareness. For example, a few marketing activity that nascar utilizes is their website and their apparel they sell. Their website offers a way for the fans to become more informed when nascar events will take place and where. fan apparel helps nascar when fan buys a certain shirt or object it allows their sponsor to be advertised more around the country. In nascar 63% of its fans
Air Canada is the flag carrier of Canada and largest airline in Canada. It provides the largest scheduled passenger service in the Canadian and Canada-America border market with a record of carrying nearly 45 million customers and maintaining 82.5 percent load factor in 2016. The predecessor of the company was Trans-Canada Air Lines(TCA) from 1937 to 1964. It was privatized in 1988. The brand “Air Canada” is growing fast in value to become one of the most valuable Canadian brands.
High barriers to entry that restrict new firms to enter the industry e.g. control of technology
Royal Caribbean Cruise Ltd (RCCL) has two distinct supply chains which create a unique challenge. Each supply chain is managed by a Provision Master. The first supply chain includes all food, beverage, and lodging inventories that needed for the trips. The second supply chain encompasses “corporate spend” materials, such as office supplies, printing services, hardware and software, printed materials, computer supplies, marine consumables (spare parts, fuel, lubricants, any and all services associated with the ship maintenance and etc).
LucasArts are one of the leading publisher’s and developer of interactive entertainment software for the games industry. LucasArts has placed its main emphasis in their gaming development on that of the vital elements of film, compelling storytelling, painstaking character development and vivid settings. Their games have consistently focused on touching people’s emotions and have received critical acclaim from both players and critics alike numerous Game of the Year honours, including multiple awards from the Academy of Interactive Arts & Sciences (LucasArts official website).Much of their recent success has been on the franchising of the companies two major films, Indiana Jones and Star Wars.
Founded in 1937, Air Canada is Canadas largest and leading airline service provider, providing low-cost high-quality air travel to over 45 million scheduled passengers yearly. Air Canada provides scheduled, cargo and charter air travel on flights for passengers to nearly 200 destinations around the world as well air travel within Canada. Air Canada currently owns more than 800 flights that accommodate the different needs of every guest. Air Canada prides itself on providing one of Canadas best guest services. Their passion for achieving the best guest services had allowed them to be a founding member of Star Alliance a network of the worlds five largest airline service providers working together to create innovative ideas to enrich the travel
The SWOT analysis: The study of the firm's Strengths, Weaknesses, Opportunities and Threats called SWOT analysis, a key step in flushing out known performance issues that are important to the growth of the organization addressed in the corporation strategic plan. The issues identified in the SWOT analysis help leadership to come up with a plan and strategy to achieve the overall mission of the company (Strategic Planning, n, d). Target Corporation is one of the largest public retailing company in the US having more than 1700 stores serving guests nationwide. Target group and its brand position are evaluated in the market using SWOT analysis.--
Today, the technology sector has been dominated by various companies all competing to gain the huge market share that has created great rivalry amongst many organizations even leading to the acquisition and rebranding of some like Nokia and Motorola. Under the defensive strategy, most companies employ this technique to discourage new
Value chains are essential elements of successful businesses, and how to gain a competitive advantage by analyzing them is the most important aspect. In Porter’s value-chain model, he points out that there are two types of business activities: primary activities, which include inbound logistics, operations, outbound logistics, marketing, sales and service; and support activities, which include procurement, technology development, human resources management, and firm infrastructure. In order to gain an edge, companies should focus on these activities to improve or create products that will satisfy their customers.
These core competencies are a part of their production system, better known as the Toyota Production System (TPS). The TPS is based on the philosophy of “completely eliminating all waste”. Excess inventory, defective products, and unnecessary processing steps are all inclusive when discussing excessive waste, which eventually negatively effects the corporation as a whole. In 1924, Sakichi Toyoda created the Toyoda Automatic Loom, which improved productivity and work efficiency by eliminating wasteful practices and defective products. Kiichiro Toyoda believed that “the ideal conditions for creating things are more successful when machines, facilities, and people work together to add value without generating any waste.”
According to Jim Wilkinson (2013), threat of new entrants refers to the threat of new competitors pose to existing competitors in an industry. For Panasonic, the threat of entry of new competitors into the technology industry is high due to the large scale of economies, such as Samsung, LG and Sony which have strong brand awareness over the years. This results in high entry barriers as large capital is required to purchase necessary equipment for setting up their company. Moreover, the creation of a brand identity that differentiates a product or service from the competition and encourages loyalty can help to create a barrier of others (The Open University 2007). Therefore, it is hard for the new competitors to enter into the technology industry.
New entrants to an industry, with a desire to gain market share, will put pressure on prices, costs and capital needed to compete. It can affect the profit potential.
The SWOT analysis is a useful tool for identifying our personal strengths, weaknesses, opportunities, and threats to our plans and goals. According to a “Fuel My Motivation” article (2010), this analysis considers internal influences that can positively or negatively affect our ability to achieve our goals. The internal factors are our strengths and weaknesses. Also considered are opportunities and threats, which are external influences that can have a positive or negative impact on the ability to achieve our goals. I will share how the self-assessment instruments and self-exercises in this course have contributed to assessing and understanding my strengths and weaknesses. I will also discuss techniques I will use to leverage my strengths and understand my weaknesses. In addition, I will consider opportunities that I can take advantage of and the threats that can possibly impede my progress.
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In 1950s, Toyota has developed lean thinking. The Toyota Production System aspires to minimize waste and increase efficiency while at the same time enhances its product quality. From this initiative, Toyota managed to widen its competitive edge by employed fewer employees in the car production with a small number of flaw products.