1. 1st method is to provide support to their customers not only on product and services but also providing a sense of security to the purchaser (DBHurley, 2015). The company must be proactive in seeking unexpected or different ways to create new opportunities and improve their relationship with their customers. And this method’s first step is to listen. Dedicate time and effort to listen not only to what they want but also listen their social media where the customers aren’t directing their messages to you. Valley Steel can also go as far as listening from their customer’s buyer or the end users to understand how their product and services can offer better support to them. From time to time, schedule a once-a-quarter lunch and just listen how …show more content…
These steps not only try to solve the problems on the surface but also digging deep to know the roots of the cause and the potential opportunity to improve. Not only does the company shows that they do have strong intention to collaborate with the customers, the customers will also see that Valley Steel is capable of developing systems and initiating strategies that can benefit and add value to their company. With expert power portrayed by Valley Steel, customers will view Valley Steel to be an irreplaceable supplier after seeing that the company has such strong ability in approaching and solving their problems. Businesses will be dependent on the company’s expert power in the industry and also their competency in developing solutions for problems in the …show more content…
According to CSU MGT 375 class, transparency is the next way to create value and form long-term relationships. The method increases the intimacy of the relationship. Valley Steel should show their values and their future vision on their partnership. It creates trust and allows customers to depend on the company’s processes and communications to steer them in the right direction. They have a lot of aspects in the consumer end that needs to be worried about, and being able to relief them from painful research and monitoring of their supplier would definitely add value to them. The company just have to show that they are dependable in every aspect, assuring them that the business transactions does not have any other unknown variables or lies that the customer needs to be aware off. Trust and dependency is the very basis of sustaining a long-term relationship, by showing the company trust them with their transparency, it is reasonable for the customers to be dependent and trust them back, showing the sign f
Gobias Industries is a company that is seeking to promote diversity amongst the organization and strives to be the best. However, it is seen that the company lacks certain criteria that may negatively impact them to the extent where they would need to shut down their facilities. The main issues Gobias Industries has faced is the harsh conditions employees have to work in that are most definitely safety hazards, Sexual harassment, and low retention rate. It is clear that Jim, Maria, Tracy and most of the employees are not satisfied with their experience with the company indicating that Gobias Industries must do something about it as soon as possible before they decide to leave as well. For this, we have analyzed the three main problems with
Despite the negative encounters of Andrew Carnegie’s Steel Company, the exploration and exchange of Carnegie Steel is that the steel was cheap. This had a positive impact on the United States because steel fed national growth, steel meant more jobs, national prestige, and a higher quality of life for
Point 2: What this area was like before the encampment, why was this area so important during the Revolutionary War: (Location to Philadelphia, supply lines, and topography of the land.)
For decades, the steel industry has been one of the toughest markets on a global scale with most steel corporations ending up in bankruptcy. Foreign and domestic competitors, management issues, environmental issues, political agenda’s and technology have had much to do with the demise and more so of the success of the steel industry. The issues that this case focus on Nucor Corporation was of:
Problem solving becomes systematic and horizontal as discussed in the process oriented section of the previous week (Taylor, 2013). Problem solving becomes preventative instead of reactive. The delivery of products and services are value driven and customer focused. The elimination of non-value added activities and waste improve the quality of products and services. Using a pull system reduces costs because of low inventories, using a JIT methodology (Russell & Taylor, 2011). Continuous improvement should be pursued, improving the quality of products and services to customer.
Black & Decker (B&D) is a global manufacturer and the world’s largest producer of power tools, power tool accessories, electric lawn and garden tools, and residential security hardware. The company was a pioneer in innovation and development of power tools and has used that position to build strong brand names that enjoy worldwide recognition. Key Causes for Poor Performance in the Professional-Tradesmen Segment The reason B&D has performed poorly in the professional-tradesmen segment is due to the positioning of the B&D brand in this segment. Poor positioning of the brand has resulted in customer confusion and negatively impacted customer perception of the brand in terms of being a quality product. B&D Performance in the Power Tool Industry Overall Any adjustments to B&D’s strategy in the professional-tradesmen segment must not have an adverse impact on their success in the consumer or professional-industrial segments. Therefore, a thorough understanding of the needs of each segment will be important in building a viable strategy to challenge Makita in the professional-tradesmen segment, while continuing to maintain share in the other two segments. _Consumer _Segment Professional-Tradesmen Segment This category consists of professionals who are buying a product for their own use on a job site. Their livelihood depends on the quality and performance, as well as the reflection on their skills that using a particular tool brings from others on the job site. Since they are purchasing their own tools, this segment needs this high quality performance at a reasonable price. However, since Makita and Milwaukee are both priced higher than B&D and are seeing greater success in this category, tradesmen are clearly willing to pay more for a product they perceive will be more effective for their use. Key needs for this market segment include: Performance and quality - {text:change} does the job needed to be done, doesn’t break down, produces high-quality results and more efficiently gets the job done. Reliability and durability - does the job every time and can be used for an extended period of heavy continual use. Safety Support from the Manufacturer – if the product breaks or performs poorly, access to replacement parts and service will be key in maximizing performance up-time.
The product team kept in very close contact with the customers through phones, email, blogs, surveys, polls and supporting feedback from the users.
We understand the importance of our missions and the trust our customers place in us. With this in mind, we strive to excel in every aspect of our business and approach every challenge with a determination to succeed.
The company has established good relationships with most of its customers which has assisted it to create high level of brand and customer loyalty
In order to build a strong relationship between companies there must be a trust. So trust played a big role in this case. A good example in this case was that inland steel “concern that a single-sourcing policy might cause it to lose touch with the market”. On the other hand, whirlpool “concerned about the technological risks of relying on only one supplier”. However, building a trust relationship between them was the best solution by the belief that both companies will be a low-cost
In the early part of this century was a time when industry was booming with growth around the installation of major railroads. With this growth came the transatlantic cable, the telegraph, and a whole lot of steel. Steel would be needed in the construction of these new transportation systems and communications were now possible between businesses and industries. (Wren, 2005)
The current circumstances have made us re-think about the governance of our company. To resolve certain issues like spread of our businesses, incompetent management, improper structure and high attrition rate has been addressed here. The strategic options evaluated are Divesting from some of the businesses, Re structuring the management by giving generalised top management or using specialized management. The options are evaluated on the basis of cash position, future projection, Repute preservation and efficient functioning of management. On the basis of these, I recommend to divest from irrelevant and non-performing businesses. This will ensure company’s smooth running and sustained profitability.
We encourage the development and application of innovations, best practices, Lean tools and techniques. In order to grow the capabilities of our workforce we provide bespoke training and support through commitment. As a result the company maintains a market head position and benefits from a fully engaged and satisfied workforce.
Steelmaking is a process in which raw materials such as iron and ferrous scrap are used to form steel. This process improves the quality of steel, giving it specific characteristics to suit the needs of diverse industries. Due to the availability, strength, and relatively inexpensive production cost, steel has become one of our world’s most valuable resources. The production of steel directly effects our lives nearly every day. Transportation on our railways, erecting buildings, manufacturing appliances and tools, canned food, and computers are just a few applications of steel in modern life.
In a business, communication not only takes place between the business and their buying customers, but also with their suppliers, within themselves and all of the stakeholders involved in the business. This includes all of the internal and external customers.