Essay Olympus Optical Company, Ltd

Essay Olympus Optical Company, Ltd

Length: 796 words (2.3 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

Olympus Optical Company, Ltd
Rahul Tulsyan
1. Evaluate Olympus’ current strategy.
Olympus’ current strategy is three-fold:
• Recapture market share by introducing new products. This is implemented mainly through Olympus’ extensive product planning process whereby enormous information regarding future mix of business, current and new technological development, business environment analysis, export, domestic market and industry statistics, consumer preferences, future lifestyle change, and competitive analysis is gathered, reviewed and incorporated.
• Improve product quality. Olympus’ quality improvement program focuses on both the introduction of new products and the manufacturing process in general. This strategy is intertwined with the other two strategies in that high product quality enhances customers’ trust and confidence in Olympus’ products, hence helping it recapture market share. At the same time, improved product quality enables it to reduce production costs through decreased disruptions to the production flow.
• Reducing production costs. Olympus adopts and implements a comprehensive and aggressive cost-reduction program. Its target costing system enables it to design high-quality products at low cost; it employs multiple programs to reduce unnecessary expenditures in production costs, costs of defects, capacity utilization costs and overhead expenses; it improves on product engineering to shorten production lead time and decrease inventory; it applies innovative production technology to optimize manufacturing processes; it shifts some manufacturing activities overseas to further reduce materials, labour and other costs; last but not least, it divides production process into autonomous groups and holds these groups re...


... middle of paper ...


...he continuous improvement and operational control are also used to further reduce costs. However, the functionality reduction during the process will adversely affect the differentiation strategy as what we mentioned earlier.

4. What changes would you make to the firm’s current target costing system and strategy?
The main thing that come to mind is the fact that the company sets a cost target right at the beginning of the process. If the research is right, then this process may be successful in keeping cost below the target, but in cases where they have overestimated the Target cost, it would result in them spending more money than they actually needing to. I think there should be a mechanism built in to re-evaluate the target cost thru the process, so as to find more savings if available. This could also eliminate some erroneous estimates made on low cost as well.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Optical Distortion Lenses in Chicken Raising Essay

- Introduction Optical Distortion Inc. is a small new company, not yet in business, with a cash asset of $200,000 and a patent for an innovative new product (the only one) which is a contact lens designed to impair the eyesight of chickens. . These lenses are used instead of debeaking. Lensed chickens are more likely to survive. They also eat more efficiently than debeaked chickens. The key issue facing ODI is "How to market these lenses?". The analysis in this paper provides recommendations for ODI on their marketing and pricing strategy to launch this new product....   [tags: Optical Distortion Case Study]

Better Essays
1869 words (5.3 pages)

A Private Company : Top Five Ltd Essay

- 19. In May 2012, a private company called Top Five Ltd. was incorporated under the provisions of the Solindian company law in Falipur, Solindia. The company was engaged in the e-commerce business. In 2015, the company received investment of an undisclosed amount through subscription of 15 percent of the share capital through foreign direct investment by Raj Capital, an entity based in the country of Dadivansh in Southeast Asia. Apart from Raj Capital’s 15 percent equity, the rest of the share capital was owned by the promoters, Mr....   [tags: Dispute resolution, Mediation, Arbitration]

Better Essays
1062 words (3 pages)

Smithtn Ltd. Claim for Rights Essay

- ... HMRC v Holland Lord Hope alleged that is difficult to postulate a decisive test for de facto directors. The court must take into account relevant factors such as whether or not there was a holding out by the company of the individual as a director, whether the individual used the title, whether the individual had proper information, on which to base decisions, and whether the individual had to make any major decisions. Hobart claimed that Mr Pincus, Mr Keane and Mr Morley (the nominated directors) effectively did what Mr Naggar instructed them on what to do rather then exercising their own powers....   [tags: calls, shareholders, director, company]

Better Essays
1084 words (3.1 pages)

Essay on Creative Media and Events Ltd.

- ... Justification for topic This topic was chosen due to the fact that the objectives of a business can affect many aspects of a business and how it is operated, including how these objectives can affect the decisions made in the business which influences how the business grows and in turn its size. This topic shows to a student that making personal objectives can help to guide them to grow in many aspects and serve as a constant reminder and driving force to achieve their dreams. The business Creative Media and Events was chosen to explore this topic because of its recent noticeable growth in the public and business communities’ eyes....   [tags: company analysis, strategies]

Free Essays
1245 words (3.6 pages)

Essay on Description Of Zen Chen Company Ltd.

- Assessment-1875 Task 1 1.1.1: - Methods • Accounting records and prepares and maintains compliance with the standard used in the appropriate accounts. • Take control of all collected and given to see that all transactions by double-double-entry book. • Checks and balances in the control is sufficient to ensure that the data cross-referenced. • Every month we have to pay to have all fees and bank reconciliation. This will give you enough time to focus on the banking supervision • The development of an organizational culture of work and honesty in the workplace....   [tags: Balance sheet, Asset, Cheque, Liability]

Better Essays
883 words (2.5 pages)

Market Analysis of Muntrex Pty Ltd. Essay

- Company Overview Muntrex Pty Ltd. is a private company directed by Noel Carter, a fully qualified Motor mechanic who specialised in heavy vehicles and diesel motors. Noel has over 25 years of experience in the mechanical industry and has owned and managed businesses since 1989. Muntrex Pty Ltd was born in 1996 in Western Australia as ‘Carter’s Mobile Repairs’. Noel started as a sole trader, servicing the Perth Metropolitan area. Seeing an opening in the market and given his company’s ability to maintain and service vehicles of all size vehicles, Muntrex then moved in to the road transport industry, in 2012 Noel founded ‘Mariam Transport’....   [tags: Company, Trucks]

Better Essays
1971 words (5.6 pages)

Optical Sensors Essay

- Introduction- An optical sensor is a device that converts light rays into electronic signals. It measures the physical quantity of light and translates it into a form read by the instrument. One of the features of an optical sensor is its ability to measure the changes from one or more light beams. This change is mostly based on the alteration of the light’s intensity. Optical sensors can work either on single point method or through a distribution of points. The major importance to the proper use of an optical sensor is that it retains certain facets of measured properties....   [tags: Optical Sensors Essays]

Better Essays
753 words (2.2 pages)

Salomon Vs Salomon And Co Ltd Essay

- A company is regarded as a distinct legal entity with a separate existence from its membership and management team. Salomon v Salomon & Co Ltd. Salomon 's case is universally recognized as authority for the principle that a corporation is a separate legal entity. The case firmly established that upon incorporation, a new and separate artificial entity comes into existence. Lord Halsbury expressed ‘once a company is legally incorporated it must be treated with its own rights and liabilities appropriate to itself’, In other words, its own personality separate from and independent of the persons who formed it....   [tags: Corporation, Company, Corporations law]

Better Essays
1040 words (3 pages)

The Effect Of Optical Fiber On Modern Business And Society Essay

- The world today is a place of constant and rapid communication. Technology has vastly improved the ways that people distribute ideas and information, as well as the speed at which they do so. At this point, this speed and efficiency is necessary to modern business and society, and the market to provide such services is notably profitable. Optical fibers have been long time sources of data transmission that have helped the information age take off. Low loss silica fibers as a broadband medium for voice, video, and traffic, are in fact critical for the current ability to communicate globally....   [tags: Optical fiber, Refractive index, Attenuation]

Better Essays
1912 words (5.5 pages)

Optical Distortion Lenses in Chicken Raising Essay

- EXECUTIVE SUMMARY THE COMPANY Concept: Make and market red-tinted contact lenses for egg-laying chickens, altering their behavior so they will fight less, eat less, and produce more eggs -- increasing egg-ranch profitability Projections: Eventual pretax net margins of 25%; 1989 sales of $329,000; 1992 sales of $24 million Hurdles: Persuading historically conservative egg farmers, operating on thin margins, to risk money up front for an unproven product; sustaining the company in the face of slower-than-expected product acceptance; defending an easily copied product from competitors likely to enter after the market has been opened Randy Wise's decision to sell contact lenses for chickens is n...   [tags: Optical Distortion Case Study]

Better Essays
1385 words (4 pages)