Tag: Business

Business!


Businesses can privately own, not-for-profit or state-owned. An organization or economic system where goods and services are exchanged for one another or for money. Every Business requires some form of investment and enough customers to whom. Its output can sell on a consistent basis in order to make a profit. A paid occupation, especially one that involves prolonged training and a formal qualification.

A Company (also known as an enterprise, a company, or a firm) is an organizational entity and legal entity made up of an association of people, be they natural, legal, or a mixture of both. Who share a common purpose and unite in order to focus their various talents and organize. Their collectively available skills or resources to achieve specific declared goals and are involving in the provision of goods and services to consumers. A business can also describe as an organization that provides goods and services for human needs.

Business - ilearnlot


  • Make Money Online Easy Advantages Disadvantages

    Make Money Online Easy Advantages Disadvantages

    #1 Make Money Online easy; The world has Online and everybody wants to make money online, easy way, quick & fast way; its many advantages, and disadvantages to becoming more money earner; just as any other aspect of the world does; but, one particular area where it shows decide advantages is in the area of making money. One particular advantage is that it does not require much effort on the part of the person trying to make money; all they need is a computer and an internet connection. Another advantage is that the online world is open to everyone, regardless of their skill set. Become an Instagram Millionaire but How? Successful Characteristics of Entrepreneur.

    Here is the article to explain, the #1 best way to Make Money Online Easy How? with Advantages and Disadvantages.

    List of #1 best way Possible Options for making Money online the following advantage and disadvantages below are;

    Cryptocurrency Mining:

    Cryptocurrency is what knows as an encrypted, decentralized digital currency. It uses in a process known as mining; which is the transferal of currency between two or more people, all of which are notes in a public ledger. A public ledger is something open to public viewing, where everyone can see the transactions that make; the names of the various people involved encrypt; of course, to give some measure of privacy to those people involved. Cryptocurrency is the best way #1 Make Money Online.

    Cryptocurrency Advantages:

    Possibly the biggest advantage to using cryptocurrency is that it is difficult to perpetrate fraud while using it; at least in the same way as when real money is in the discussion. Another advantage lies in the quickness which is inherent in using cryptocurrency; rather than needing to rely on third parties whenever things need to be done (as happens with so many purchases in the real world); cryptocurrency can use to finish any deals on their own.

    Cryptocurrency Disadvantages:

    Of course, cryptocurrencies come with many disadvantages, some because they are relatively innovations, and some because they exist generally. The main disadvantage is that cryptocurrencies, as a new technology, are difficult to use; most people do not understand them as yet, and therefore do not skill in proper usage. Because it is a new system, cryptocurrency has caused a lot of disruption both; because few people know how to properly use it and because the system itself is new.

    Academic Writing Companies:

    Custom essay writing companies are becoming more and more known as the internet grows and makes its way into more and more of everyday life. These sites range from small to absolutely huge, but they all offer the same thing: the chance to have papers written (or edited) for people in academia and business so that the work is done without them needing to do it. Academic writing companies; You also make and create articles for us online.

    Academic Writing Companies Advantages:

    There are several advantages to being part of and owning a custom essay writing company; the main one is that this area of business is seeing a lot of expansion due to the increased digitalization of society. Another advantage is the ever-growing educational field – with so many people taking courses, and therefore potentially needing help from academic writing services in various ways. Finally, in this day and age, there is an ever-growing pool of potential employees.

    Academic Writing Companies Disadvantages:

    The major disadvantage to running academic writing services is that their position is somewhat tenuous. Many academic institutions see the services offered by academic writing services as cheating and plagiarism and will take action based on those beliefs. This means that anybody who uses the service runs the risk of losing their educational opportunities, something; which can have a knock-on effect on the clients and the demand for the business as a whole, causing it to decrease dramatically.

    Content Production Services:

    Content production services are external services that produce content for businesses that specifically focus on marketing and digital content production. These services normally take the form of short items of ‘copy’ that individual writers can take on as and when they see fit. Some services offer to keep specific writers doing work for specific businesses; if they like what was written; while others allow the writers access to the business profiles themselves, allowing them to choose for themselves.

    Content Production Services Advantages:

    Running a content production service has the advantage of being at the forefront of content production; particularly as more and more businesses are growing wise to the need for Internet and digital marketing in all its forms. The main advantage in this is that for the moment at least, the business can only increase as more people use it; either because the business in question cannot do such work themselves, or because they do not want to retain staff specifically for marketing purposes.

    Content Production Services Disadvantages:

    However, the disadvantage of owning content production companies is that the very nature of these services; and, how the need for them has grown exponentially over the recent past, is the very thing that may curtail the need for the service. Content production services are only of use so long as people are going to be looking outside their place of business for as long as they don’t have people within it who have the appropriate skills.

    Freelance Coding:

    Freelance coding is something offered by freelancers to whoever might need any coding work done; particularly, if they do not normally retain a programmer of any kind. Coding can be done in any of the various languages which are available to all programmers. Freelance coding is something that can involve any kind of project, from small to large. Similarly, it can involve the work of a day, or work done over a much longer period.

    Freelance Coding Advantages:

    Owning a freelance coding business has one major advantage – it means that you can choose to work on a variety of different coding projects according to your interests; as well as what you are essentially good at. Being able to tailor your calendar gives you a lot of control over your schedule and the projects; you take on, is something that would allow you to control your own business to a large extent; and, also help to build your skills in the manner you wanted.

    Freelance Coding Disadvantages:

    A disadvantage to being a freelance coder or owning that kind of company is that it can be quite difficult to get started in the business in the first place. People who need coding done are more likely to go for the experience, leaving someone who has just started in a bind. Another problem is that as the digital world has grown; so has the number of people who have grown up with the new systems, leaving more people able to handle the coding and formatting that might come up in a business day, leading to less demand for freelance coders. Be The Change You Want to See in The World. How to easy make money online?

    Advantage and Disadvantages of Make Money Online
    #1 Make Money Online How? Advantages and Disadvantages.
  • What to Do When Your Google Rankings Take a Hit!

    What to Do When Your Google Rankings Take a Hit!

    Google Rankings Take a Hit; Most businesses want to appear high up in the search rankings for relevant keywords, and you are probably no exception. So what happens when you suddenly find out that your rankings have taken a hit? This is a situation that happens to many businesses, and it can be a nasty shock. Fortunately, all is not lost. There could be any number of reasons why your rankings are suffering. Here are the steps that you should take when you find out that your rankings have fallen suddenly.

    What to Do When Your Google Rankings Take a Hit, Have There Been An Algorithm Update?

    The very first thing to do is find out whether Google has updated its algorithm. Google updates its algorithm all the time, but what you want to check for is any major update that could have affected your results.

    The easiest way to do this is to head to an SEO website like Moz, where you will quickly find out if anything big is happening. SEO specialists keep a very close eye on their rankings, and if they notice that something is up, they will be quick to find out what’s going on.

    If nothing has changed, you know it’s not related to the algorithm. However, if a large update has been made, you will most likely be able to find information about the recommended steps to take on the same SEO websites and blogs where you read about the update.

    If in doubt about what the problem is or whether you are doing everything you should be, speak to a professional. Contact an SEO and marketing agency like Sticky Digital and they will be able to help.

    Have You Optimized for Mobile?

    Next, up, has your site been optimized for mobile? If you have a responsive design, this is perfect because it will display correctly on any screen no matter what size it is.

    Alternatively, you could create a mobile version of your site to provide a better user experience on mobile devices, but responsive is better.

    Google has updated its mobile algorithm so that only mobile-friendly websites are displayed. If your site is not mobile optimized, this is undoubtedly going to have a huge impact on your rankings and traffic.

    Go Over All the Basic On-Page SEO Factors:

    The next thing to do is check over all of the on-page SEO basics. While link building and off-page SEO are more important for improving your rankings, the on-site factors should not be forgotten.

    Check the h1 tags, title tags, and meta descriptions of every page and make sure they are optimized for your keywords. Also, check that they show up properly in the search results.

    Also, make sure you have optimized each page for a keyword or two (without keyword stuffing), and check that you have created alt tags for your images.

    Make Sure Your Site Speed Is Optimized:

    The speed that your web pages load can have an impact on your ranking, so make sure it is as fast as possible. The best thing to do is to visit Google’s PageSpeed InsightsHow to Learn of Hone Your Ability to Concentrate?

    Here you can find out whether your site is as fast as it could be, and Google also provides some useful tips for increasing the speed. Make any improvements yourself, or get your developer to make them, and this can have an impact on your search results.

    Look Over Your Backlink Profile:

    Your backlink profile (the sites that link back to your site) should be natural and not contain large amounts of low-value or spam links. If you have built up lots of junk links from low-quality websites, this could be an issue. Leadership Explained by the Internet.

    Use Open Site Explorer or a similar tool to find out which sites are linking to your site, or check-in Google Search Console. You can disavow links if you don’t want them to be part of your backlink profile.

    Check Your Google Search Console and Analytics Accounts:

    You can find out a lot of information about your website by signing into your Google Search Console and Google Analytics accounts. If you don’t know how to use these, you might want an expert to help you. Here you can pinpoint potential problems so you can take appropriate action. Identifying and Recognizing Opportunities.

    Sort Out Your Site to Get Ranking Again:

    These are some of the most important steps to take if your website takes a hit in the rankings. Either go through them yourself or, if you are unsure about the technicalities of SEO, get a specialist SEO agency to take a look for you. Do Good Always!

    Whatever you do, make sure you take action. The chances are that there is a quick improvement you can make to get your site back ranking where it should be so you can start generating more organic traffic again. Do you want to be a BOSS?

    What-to-Do-When-Your-Google-Rankings-Take-a-Hit
    What to Do When Your Google Rankings Take a Hit! Image from Online.

  • How to Identify a Good Website Designer?

    How to Identify a Good Website Designer?

    The Ultimate Guide on How to Identify a Good Website Designer


    Their are six tips or guide need to knowing, Why? Because Your business is important and unique. You understand what it needs. Sometimes it may not be possible to handle every task. Good Website Designer, Some tasks need a specialist who has knowledge in that field. Your website is your virtual office. Become an Instagram Millionaire.

    It needs to be appealing so that clients can have trust in your services. Therefore you need to design it to suit your business needs. Hiring a website designer can be daunting if you don’t know how to identify the right person. The following tips will help you identify the right website design expert.

    1. The Website designer must have experience in your field

    What is your business about? Even though you might not get a web designer, who has done a project exactly like the one you need, experience in a related field could be good enough for a start. If you got a web designer with no experience in your field, the whole process could take longer and cost more.

    2. Should have knowledge on modern strategies of designing

    Before hiring web designers, ask them about what they know about modern techniques. You need a glossy looking website with CSS and HTML that can be attuned with different browsers. If the web designer has a hard time to explain modern strategies, then you might as well have a hard time working with him.

    Some web designers can quickly answer your questions; tell you their goals and how they do different tasks. Working with such artists could be easy and also they will quickly understand what your business needs.

    3. An appealing portfolio

    You need to check the record of the experience of your web designers. What do their previous clients say about their experiences with them? How are the samples of the work they did? Hiring a new web designer with no portfolio can be a bit challenging. From their portfolios, you could ask them why they think that design suited that website among other questions.

    4. Pricing

    Pricing is an important element when hiring a web designer. Sometimes you might get an experienced web designer, but your budget won’t allow you to hire that person. Advantage and Disadvantages of Make Money Online!

    The budget of hiring a web designer depends on factors such as location, number of tasks you would like to be done on your site, tools that will be used, software to be installed and much more. Ask the web designer his/her pricing and reflect whether it fits your budget.

    5. Creativity

    Do you see any form of creativity in the past work done by that particular web designer? Even though web designers are educated, they need to go beyond their education and come up with an attractive website. Creativity might involve coming up with new ideas in your site outlook that suits your business. Web Developer’s Workflow Become Much Easier with this Innovative Gadgets.

    6. Knowledge of SEO

    SEO is an essential element of your business. Apart from making your website presentable, it should also rank highly on Google. A good website designer should have knowledge of keyword research and create great content.

    Website design should be the first thing to think about when setting up your online business. Your website should be easily updated and have clean designs that look professional. Do you need website design services? Get in touch with us and have a professional outlook for your business.

    The-Ultimate-Guide-on-How-to-Identify-a-Good-Website-Designer


  • Case Study of the MasterCard Credit Cards Business

    Case Study of the MasterCard Credit Cards Business

    MasterCard Credit Cards Business Case Study; Credit (change) cards have been very big business for several decades. In 2001, over $30 trillion in payments for goods and services were charging using credit cards. The cards have made life easier for many people; because, they do not need to carry large amounts of cash for most purchases. Many people also use the cards as a way to borrow money; because, they need only pay a small percentage of the amount they owe each month, although they usually charge very high-interest rates for the unpaid balance.

    Case Study of the MasterCard Credit Cards Business!

    MasterCard More info: “Mastercard Incorporated (stylized as MasterCard) is an American multinational financial services corporation headquartered in the MasterCard International Global Headquarters, Purchase, New York, United States, in Westchester County. The Global Operations Headquarters is located in O’Fallon, Missouri, United States, a suburb of St. Louis, Missouri.

    Throughout the world, its principal business is to process payments between the banks of merchants; and, the card-issuing banks or credit unions of the purchasers who use the “Mastercard” brand debit and credit cards to make purchases, their Case Study. Mastercard Worldwide has been a public trade company since 2006. Before its initial public offering, MasterCard Worldwide was a cooperative own by the more than 25,000 financial institutions that issue its branded cards.”

    The interest goes to the issuing bank, making credit cards a very profitable service for them. However, the credit card industry is intensely competitive, highly fragmented, and growing at a rate of 3 to 4 per year, making those profits difficult to achieve.

    Visa and MasterCard:

    Visa and MasterCard are associations of banks that issue credit cards, you understand their Case Study. They market their cards, often several different cards, and provide support for the transactions; making networks available to collect and use the data. The most popular credit card has been Visa, with 44.5 percent of the business in 2001; while MasterCard is number two with 31.6 percent. Being very much second to Visa, MasterCard is trying to overtake it.

    While it had been number two since the beginning, MasterCard began to emerge from “its doldrums” in 1997, according to Robert Selander, MasterCard’s CEO. It began to realize it might really be able to overtake Visa and become number one. To reach that goal, MasterCard needed to present itself so that the potential user will choose a MasterCard rather than a Visa. It also had to spur the bank issuers to promote MasterCard cards rather than those of their competition.

    In 1998, when MasterCard had only 28.8 percent of the credit card charge volume; while Visa’s was over 50 percent, MasterCard decided it needs a new computer center; partially to handle all the data as the company’s business expanded as a result of its drive to overtake Visa. It also foresaw growth as a result of its change in strategy. The company’s new strategy required a system that would be able to keep a record of every transaction of every customer for three years.

    Strategy:

    The strategy included ways MasterCard and its member banks could use that data to increase their credit card business. MasterCard wanted to increase its daily volume of 30 million transactions in 1977. At the time it had three separate computer centers on four floors in the suburbs of St. Louis, Missouri, and it wants to consolidate the computer centers while enlarging the new center; so, that it would be able to handle both the current volume and the planned volume as it expands.

    At that time it was storing nearly 50 terabytes (50 trillion numbers and letters) of data, including the dollar amount, merchant, location, and card number. MasterCard also planned to add other data fields, such as ZIP codes, to make the data more useful. However, to protect MasterCard users, it did decide not to include demographic data such as incomes and ages.

    Nonetheless, “The credit card business lives and dies by data”, said Ted Iacobuzio, director of consumer credit research for the consulting and research firm, TowerGroup. Top searched case study [Market Research Coffee of “Starbucks” Entry into China].

    Warehousing:

    While both Visa and MasterCard had already been warehousing so much data; they were both moving toward providing reports to their member banks. MasterCard’s goal was to give its members (the banks) direct access to their customers’ data as well as tools to analyze all of this data; all to persuade the banks to choose MasterCard over Visa.

    For example, if banks could use MasterCard tools to improve their analysis of the profitability of the cards in their portfolios or gain more customers and transactions to process; they would be inclined to push MasterCard more often. Such an analysis could help banks determine the types of customers that were most profitable or find ways to appeal to more potential MasterCard customers.

    Many banks issue both Visa Cards and MasterCard cards (sometimes several of each); and, if the banks can use this information from MasterCard while Visa does not have or make available such information; the MasterCard company can gain a strategic advantage.

    For example, in 2001, MasterCard persuaded Citigroup, the largest issuer of credit cards, to push MasterCard over Visa so that 85 percent of its credit cards came from MasterCard versus only 15 percent from Visa. J. P. Morgan Chase likewise was convinced to use MasterCard for 80 percent of the cards it issued.

    What is the Hope?

    MasterCard hoped it could persuade banks to use these data; if they could see the value (increased profit) in the process. Joseph Caro, MasterCard’s vice president of Internet technology services, says that “little percentages” can be very profitable to banks. In one case, a bank was requiring its merchants to verify the whole process by using the telephone to call in one transaction out of 50 for approval (rather than using a telecommunications method); while most banks were requiring only one transaction in 500.

    Because call-ins cost about $3 each, that bank could save $300,000 a year by switching over to the one in 500 methods. Another bank was turning down one transaction out of five because so many call-ins were timing out. The bank was able to discover that most of the customers turn down were actually creditworthy. By changing its set up, the bank would be able to eliminate thousands of unnecessarily lost transactions.

    About 28,000 banks and financial service companies issue MasterCard credit cards. To draw these customers into using its credit card transaction data; MasterCard needed not only to make each bank’s data available to them but also needed to make available appropriate analytic software. MasterCard assigned 35 full-time developers to the task of identifying and creating software tools to accomplish this task.

    Objects:

    Drawing on Business Objects Web Intelligence software in 2001; these developers created and programmed 27 tools for the banks to use. (These tools are not free and they are not available to merchants.) One of MasterCard’s new tools, called the Business Performance Intelligence, is for operational reporting and includes a suite of 70 standard reports that banks can use to analyze their daily, weekly, or monthly transaction.

    The banks can then compare the results from one market (such as a United States state or region, or a single country) with that of another market. MasterCard also works with individual banks to create their own custom reports, enabling them to concentrate on their own issues and concern. Subscribing banks access the MasterCard business intelligence system via a secure extranet.

    The developers also created MarketScope; which are applications that have the goal of helping banks and merchants work together to generate more purchases from the merchants if they pay for by MasterCard. One example they give is to enable Wal-Mart stores to determine how many MasterCard holders spend $25 or more on sporting goods in January and February.

    Systems development:

    Then, MasterCard’s vice president of systems development, Andrew Clyne, suggested that Wal-Mart could send these card-holders the right to obtain tickets to their closest major league baseball team based upon future sporting goods purchase above a certain dollar minimum. Lacobuzio said that such a strategy should appeal to state and regional banks. However, he believes it is likely that national and international banks would have already developed and are using their own analytical software.

    But even they would have a use for MasterCard’s software as a kind of benchmark against; which to measure the effectiveness of their own systems. Moreover, despite the increasing volume, the processing was much faster. As Caro said, “If we can do things faster, little percentages start moving in our direction.”

    Visa, however, is not sitting still and is managing about 100 trillion terabytes of data for its clients. Until recently, it mainly supplied the data online or on disks to its bank customers; who used their own software and computers to analyze the data. Recently, Visa started to run analyses for the banks on its own computers.

    Web service:

    In May 2002, Visa also introduced a Web service called Resolve Online to help banks deal with disputed payments and is working on providing banks with online analytic tools. “If MasterCard is ahead of the game in any of this”, says Iacobuzio, Visa “will have it in six months”.

    MasterCard’s new data storage site, which was opening in May 2002, is also in St. Louis, in a single 525,000-square – foot building. The complex, which was built on open land, cost MasterCard $135 million. The changeover to the new site happened over a weekend with almost no problem; despite the purchases of about $4 billion each day.

    Case Study of the MasterCard Credit Cards Business
    Case Study of the MasterCard Credit Cards Business, MasterCard Logo since July 14, 2016.
  • MBA (Master of Business Administration)

    MBA (Master of Business Administration)

    What is a MBA (Master of Business Administration)?


    Higher education – the area a young individual decides to graduate/post-graduate in – is perhaps one of the most important choices a person makes during his/her lifetime. A choice at this juncture determines the course of one of the largest investments in terms of time, money and commitment a person could make. Such an important decision needs considerable thinking on the part of the individual. ‘Why do I want to do this educational programme?’ is a question that needs to be answered. At a later point in life, some individuals may feel repentance on his/her wrong choice of higher education at the degree/P.G. level. The ‘too-late’ realization with a feeling of disillusionment is a direct outcome of unconsidered early-life decisions relating to higher education and subsequent career/profession. When faced with the question of what to do in life, the result usually may fall into two categories: He/she may do what others want him/her to do or do what everybody around him/her seems to be doing. The compulsion to get into one field of study or another field of study usually comes from the individual’s parents or / and people around him/her. This may happen especially in the case of professional courses.

    The Master of Business Administration (MBA or M.B.A.) is a master’s degree in business administration (management). The MBA degree originated in the United States in the early 20th century when the country industrialized and companies sought scientific approaches to management. The core courses in an MBA program cover various areas of business such as accounting, finance, marketing, human resources, operations, and statistics, in a manner most relevant to management analysis and strategy. Most programs also include elective courses. MBA programs typically require completing nearly twice the amount of credits typically required for degrees that cover some of the same material such as the Master of Economics, Master of Finance, Master of Accountancy, Master of Science in Marketing and Master of Science in Management.

    If we ask any MBA aspirant why he/she wants to do MBA, the answers may follow predictable lines. Usually, everyone wants to work in a multinational/national company and earn a fat salary, or is preparing for it since friends are into it. A few may actually know what to expect from the profession. Almost everybody talks of a cousin or friend who has made it big in some company or the other. It may be noted that the average student and even people in other professions and jobs have caught the MBA bug. When earning money has become the central objective of life, people may not stick in a career of their own interest and aptitude.

    Some people do engineering because their parents wanted them to, but later they find that higher positions in management are grabbed by MBAs. An additional MBA degree may give them the qualification to work at higher levels in multinational/national companies and live a decent life. In other words, an MBA degree in addition to engineering or other degree is a detour in career advancement. Thousands of students, including engineers from the premier institutes like the IITs, want to get into management for this reason. One often wonders why some of the brightest people in the country are opting for marketing profession, sacrificing their talent and years of hard work and education in a different profession.

    Career growth, managerial skills and increased earnings are perhaps the most common reasons given for pursuing an MBA. An MBA degree may help to achieve a major break through in one’s career path accompanied with a jump in income. Many MBAs with engineering background may start with that ambition. A management qualification requires a enormous investment of effort and money. To maximize the return on that, one should think carefully about hislher own objective in seeking an MBA and the type of course that is most likely to enable one to meet those objectives.

    Increasing business activity and the predominant shortage of well-trained managers for industry make the MBA tag a prestigious and a well-paying one. Advancement automatically comes with efficiency and a hard-working attitude. The reputation of a good management school can get him/her a challenging job in a good organisation; but to stay there and to move on requires a combination of professional and personal skills along with a need to develop emotional quotient (EQ).

    But an MBA by itself may not guarantee high career advancement in the profession unless he/she has certain skills, attitudes, and ambitions and goal orientation to move up. An MBA without these qualities may get stuck in the onward journey and his/her contributions to the job may sadly be mediocre.

    The MBA, however, may build up expectations and everybody thinks he/she is fit to work in a higher profession preferably in a multinational company. Not everyone may find such a job, and this may leave a trail of frustration behind. Ironically, it seems that 2 there is huge unemployment III the country and still it IS difficult to find a good manager/executive.

    Multinationals, or for that matter any employer, require people who can ‘add value’. A diploma or a degree by itself does not add value. It is added by an understanding of the situation and taking intelligent decisions. Highly paid jobs require this more than anything else. A person who does not have talent for this is bound to be left behind.

    Choosing and managing a career requires more serious thinking than many of us are willing to admit. First is the question of aptitude. It is necessary not to be overwhelmed by stories of high salaries that others are getting, since each profession offers the possibility to earn more than others. The most highly paid professionals in the country, for instance, may not be MBAs. A good doctor or a fashion designer or a cine actor would be able to earn more money. Some famous designers and cardiologists may earn more than most MBAs.

    MBA graduates are a significant part of the talent pool for corporate leadership. Major corporations and firms compete to fill entry-level management positions with graduates of top-tier business schools. Campus recruitment programmes are characterized by student selectivity, reputation for quality among business school, programme directors, and placement strategies adopted by B-schools. Thus, the popularity of the MBA programme is not only based on the quality of education, but also other factors as mentioned above.

    What is a MBA (Master of Business Administration)


  • Case Study Corporate Social Responsibility of Coffee Starbucks

    Case Study Corporate Social Responsibility of Coffee Starbucks

    Starbucks Case Study; It is the world’s largest and most popular coffee company. Case Study; Since the beginning, this premier café has aimed to deliver the world’s finest fresh-roasted coffee. Corporate Social Responsibility of Starbucks Coffee, Case Study; Today the company dominates the industry and has created a brand that is tantamount to loyalty, integrity, and proven longevity. Starbucks is not just a name, but a culture.

    Case Study in Corporate Social Responsibility of Coffee Starbucks!

    It is obvious that Starbucks and its CEO Howard Shultz are aware of the importance of corporate social responsibility. We try to explain the case study of Corporate Social Responsibility of Starbucks Coffee; Every company has problems they can work on and improve in and so does Starbucks. As of recent, Starbucks has done a great job showing their employees how important they are to the company. Along with committing to every employee, they have gone to great lengths to improve the environment for everyone.

    Ethical and unethical behavior is always a hot topic for the media, and Starbucks has to be careful with the decisions they make and how they affect their public persona. The corporate social responsibility of the Starbucks Corporation addresses the following issues: Starbucks’ commitment to the environment, Starbucks’ commitment to the employees, Starbucks’ commitment to consumers, discussions of ethical and unethical business behavior, and Starbucks ‘ commitment and response to shareholders. The following Corporate Social Responsibility of Starbucks Coffee few explain below are;

    Commitment to the Environment.

    The first way Starbucks has shown corporate social responsibility is through its commitment to the environment. To improve the environment, with a little push from the NGO, Starbucks’ first main goal was to provide more Fair Trade Coffee. What this means is that Starbucks will aim to only buy 100 percent responsibly grown and traded coffee. Not only does responsibly grown coffee help the environment, but it also benefits the farmers as well. Responsibly grown coffee means preserving energy and water at the farms.

    In turn, this costs more for the company overall, but the environmental improvements are worth it. Starbucks and the environment benefit from this decision because it helps continue to portray a clean image. Another way to improve the environment directly through their stores is by “going green”. Their first attempt to produce a green store was in Manhattan. Starbucks made that decision to renovate a 15-year-old store. This renovation included replacing old equipment with more energy-efficient ones.

    To educate the community, they placed plaques throughout the store explaining their new green elements and how they work. This new Manhattan store now conserves energy, water, materials, and uses recycled/recyclable products. Twelve stores total plan to be renovated and Starbucks has promised to make each new store LEED, meaning a Leader in Energy and Environmental Design.

    LEED improves performance regarding energy savings, water efficiency, and emission reduction. Many people don’t look into environmentally friendly appliances because the upfront cost is always more. According to Starbucks, going green over time outweighs the upfront cost by a long shot. Hopefully, these new design elements will help the environment and get Starbucks ahead of their market.

    Commitment to Consumers.

    The second way Starbucks has shown corporate social responsibility is through their commitment to consumers. The best way to get the customers what they want is to understand their demographic groups. By doing research on Starbucks’ consumer demographics, they realized that people with disabilities are very important. The company is trying to turn stores into a more adequate environment for customers with disabilities.

    A few changes include: lowering counter height to improve ease of ordering for people in wheelchairs, adding at least one handicap accessible entrance, adding disability etiquette to employee handbooks, training employees to educate them on disabilities, and by joining the National Business Disability Council. By joining the National Business Disability Council, Starbucks gains access to resumes of people with disabilities.

    Another way Starbucks has shown a commitment to the consumers is by cutting costs and retaining loyal customers. For frequent, loyal customers, Starbucks decided to provide a loyalty card. Once a customer has obtained this card, they are given incentives and promotions for continuing to frequent their stores. Promotions include discounted drinks and free flavor shots to repeat visitors.

    Economy talk:

    Also, with the economy being at an all-time low, Starbucks realized that cheaper prices were a necessity. By simplifying their business practices, they were able to provide lower prices for their customers. For example, they use only one recipe for banana bread, rather than eleven!

    It doesn’t end there either! Starbucks recognized that health is part of social responsibility. To promote healthier living, they introduced “skinny” versions of most drinks, while keeping the delicious flavor. For example, the skinny vanilla latte has 90 calories compared to the original with 190 calories. Since Starbucks doesn’t just sell beverages now, they introduced low-calorie snacks. Along with the snacks and beverages, nutrition facts were available for each item.

    Also, one big way to cut costs was outsourcing payroll and Human Resources administration. By creating a global platform for its administration system, Starbucks is able to provide more employees with benefits. Plus, they are able to spend more money on pleasing customers, rather than on a benefits system.

    Commitment and Response to Shareholders.

    One way Starbucks has demonstrated its commitment and response to shareholder needs is by giving them large portions. By large portions, Starbucks is implying that they plan to pay dividends equal to 35% or higher of net income. For the shareholders, paying high dividends means certainty about the company’s financial well-being. Along with that, they plan to purchase 15 million more shares of stock, and hopefully, this will attract investors who focus on stocks with good results.

    Starbucks made its commitment to shareholders obvious by speaking directly to the media about it. In 2004, Starbucks won a great tax break, but unfortunately, the media saw them as “money-grubbing”. Their CEO, Howard Shultz, made the decision to get into politics and speak to Washington about expanding health care and the importance of this to the company. Not only does he want his shareholders to see his commitment, but he wants all of America to be able to reap these benefits.

    In order to compete with McDonald’s and keeping payout to its shareholders high, Starbucks needed a serious turnaround. They did decide to halt growth in North America but not in Japan. Shultz found that drinking coffee is becoming extremely popular for the Japanese. To show shareholders there is a silver lining, he announced they plan to open “thousands of stores” in Japan and Vietnamese markets.

    Commitment to Employees.

    The first and biggest way Starbucks shows their commitment to employees is by just taking care of their workers. For example, they know how important health care, stock options, and compensation are to people in this economy. The Starbucks policy states that as long as you work 20 hours a week you get benefits and stock options. These benefits include health insurance and contributions to the employee’s 401k plan.

    Starbucks doesn’t exclude part-time workers, because they feel they are just as valuable as full-time workers. Since Starbucks doesn’t have typical business hours like an office job, the part-time workers help to work the odd shifts. Another way Starbucks shows its commitment to employees is by treating them like individuals, not just number 500 out of 26,000 employees. Howard Shultz, a CEO, always tries to keep humanity and compassion in mind.

    When he first started at Starbucks, he remembered how much he liked it that people cared about him, so he decided to continue this consideration for employees. Shultz feels that the first impression is very important. On an employee’s first day, he lets each new employee know how happy he is to have them as part of their business, whether it is in person or through a video.

    His theory is that making a good first impression on a new hire is similar to teaching a child good values. Through their growth, he feels each employee will keep in mind that the company does care about them. Shultz wants people to know what he and the company stand for, and what they are trying to accomplish.

    Ethical/Unethical Business Behavior.

    The last way Starbucks demonstrates corporate social responsibility is through ethical behavior and occasional unethical behavior. The first ethically positive thing Starbucks involves itself in is the NGO and Fair Trade coffee. Even though purchasing mostly Fair Trade coffee seriously affected their profits, Starbucks knew it was the right thing to do. They also knew that if they did it the right way, everyone would benefit, from farmers to the environment, to their public image.

    In the fall of 2010, Starbucks chose to team up with Jumpstart, a program that gives children a head start on their education. By donating to literacy organizations and volunteering with Jumpstart, Starbucks has made an impact on the children in America, in a very positive way.

    Of course, some negatives come along with the positives. Starbucks isn’t the “perfect” company like it may seem. In 2008, the Starbucks mobile app decided to close 616 stores because they were not performing very well. For Starbucks to close this many stores in one year, they had to battle many landlords due to the chain breaking lease agreements. Starbucks tried pushing for rent cuts but some stores did have to break their agreements.

    Other thing:

    On top of breaching lease agreements, Starbucks was not able to grow as much as planned, resulting in their future landlords were hurting as well. To fix these problems, tenants typically will offer a buyout or find a replacement tenant, but landlords are in no way forced to go with any of these options. These efforts became extremely time-consuming and costly, causing Starbucks to give up on many lease agreements.

    As for Starbucks ethical behavior is a different story when forced into the media light. In 2008, a big media uproar arose due to them wanting to re-release their old logo for their 35th anniversary. The old coffee cup logo was basically a topless mermaid, which is Starbucks’ opinion is just a mythological creature, not a sex symbol.

    Media critics fought that someone needed to protect the creature’s modesty. Starbucks found this outrageous. To end the drama and please the critics, they chose to make the image more modest by lengthening her hair to cover her body and soften her facial expression. Rather than ignoring the media concerns, Starbucks met in the middle to celebrate its 35th anniversary. Maybe you definitely understand above the information and case study of Corporate Social Responsibility of Starbucks Coffee.

    Case Study in Corporate Social Responsibility of Coffee Starbucks
    Case Study in Corporate Social Responsibility of Coffee Starbucks!
  • Market Research Coffee of Starbucks’ Entry into China

    Market Research Coffee of Starbucks’ Entry into China

    Starbucks’ Entry into China: How to Starbucks Corporation is an American coffee company and coffeehouse chain? Market Research Coffee of Starbucks‘ Entry into China, Starbucks was founded in Seattle, Washington in 1971. As of November 2016, it operates 23,768 locations worldwide. Also, Starbucks considers the main representative of “second wave coffee”, initially distinguishing itself from other coffee-serving venues in the US by taste, quality, and customer experience while popularizing darkly roasted coffee. Since the 2000s, third-wave coffee makers have targeted quality-minded coffee drinkers with hand-made coffee based on lighter roasts, while Starbucks nowadays uses automated espresso machines for efficiency and safety reasons.

    Here is the article to explain, Market Research Coffee of Starbucks’ Entry into China!

    Starbucks locations serve hot and cold drinks, whole-bean coffee, Micro ground instant coffee known as VIA, espresso, caffe latte, full- and loose-leaf teas including Teavana tea products, Evolution Fresh juices, Frappuccino beverages, La Boulange pastries, and snacks including items such as chips and crackers, the article defines how to Entry into China; some offerings (including their annual fall launch of the Pumpkin Spice Latte) are seasonal or specific to the locality of the store. Also, many stores sell pre-packaged food items, hot and cold sandwiches, and drinkware including mugs and tumblers; select “Starbucks Evenings” locations offer beer, wine, and appetizers. Starbucks-brand coffee, ice cream, and bottled cold coffee drinks also sold at grocery stores, Market Research.

    Starbucks first became profitable in Seattle in the early 1980s. Despite an initial economic downturn with its expansion into the Midwest and British Columbia in the late 1980s, the company experienced revitalized prosperity with its entry into California in the early 1990s. The first Starbucks location outside North America opened in Tokyo in 1996; overseas properties now constitute almost one-third of its stores. The company opened an average of two new locations daily between 1987 and 2007. On December 1, 2016, Howard Schultz announced he would resign as CEO effective in April 2017 and will replace by Kevin Johnson. Johnson assumed the role of CEO on April 3, 2017.

    Market Shopping:

    Starbucks uses the highest quality Arabic coffee as the base for its espresso drinks, they provide high quality that’s why Entry into China essay. Learn about their unique coffee and espresso drinks today. If You can Buy your favorite Starbucks coffee, cups, mugs, coffee makers, and brewing equipment online with free standard U.S. shipping of over $50.

    Starbucks has developed an internationalization strategy to enable the company to open stores and franchises in countries across the globe. Market research is at the core of many of the market entry strategies Starbucks is employing. Also, This case study will consider how market research has strengthened Starbucks ‘ entry into the Chinese markets.

    Market Research: Starbucks International Business Strategy.

    Starbucks entry into emerging and developed markets inform by market research.

    Starbucks conducted market research to enable a deeper understanding of the Chinese markets, and the way that capitalism functions in the People’s Republic of China (PRC). Also, China contains a number of distinct regionally-based markets, a factor that makes market research crucial to launching new stores and franchises in China. A deep understanding of intellectual property right laws is critical to successful market entry in emerging markets.

    Starbucks articulate an entry strategy that would address the dominant Chinese markets and that was design to as inoffensive concerning the Chinese culture as possible. Instead of taking the conventional approach with advertising and promotions — which could have seen by potential Chinese consumers as attacking their culture of drinking tea –, they position stores in high-traffic and high visibility locations.

    Moreover, Starbucks very deliberately began to bridge the gap between the tea-drinking culture and the coffee drinking culture by introducing beverages in the Chinese stores that included local tea-based ingredients. Also, Market research supports the development of Starbucks’ competitive internationalization strategy. The overarching competitive strategy was to create an aspirational brand. Prospective Starbucks customers in China could look forward to what Starbucks refers to as The Third Place experience.

    The Starbucks experience conveys status that is highly appealing to those aspiring to Western standards or to climbing the ladder in their own culture. Also, Market research indicates that brand consistency is important to Starbucks’ customers. When Starbucks opens a new store in an emerging market like China, the best baristas are sent for the launch and to conduct training of the baristas who will carry on when once the launch has completed.

    Market Research Addresses the Emerging Market Political Environment.

    Market research help to identify the attributes of capitalism in the Peoples’ Republic of China (PRC). Also, The middle class in China has rapidly accepted Western standards as an acceptable standard of the bourgeois class. Moreover, Chinese consumers accept purchases of luxury goods as a means of pursuing quality lifestyles. Under the influence of Communism, the Chinese considered conspicuous consumption to be decadent or indicative of a lack of a nationalistic orientation.

    Capitalism in The Peoples’ Republic of China supports the status-conscious population that manifests its interest in keeping up with the Jones’ through excessive luxury consumption. The Chinese government’s support of luxury consumption is particularly apparent in certain cities in China. The second-tier city of Chengdu serves as a market research case study in Chinese governmental support of capitalism.

    Chengdu promotes capitalism at a level evidenced by the presence of stores like Louis Vuitton and Cartier in its downtown. According to the Chengdu Retail Industry Association. Also, The stores selling 80 percent of international luxury brands are located in Chengdu. And the city ranks just third in luxury sales after Beijing and Shanghai. It is easy to see how this national orientation toward luxury goods extends to the Starbucks mobile app brand. Which is characterized by a certain degree of exclusivity.

    It is essential to understand the intellectual property rights laws and licensing issues when planning market entry in an emerging market. Also, Starbucks has used intellectual protection laws to prevent its business model and brand from being illegally copied in China.

    Four years after opening its first café in China – in 1999 – Starbucks had registered all its major trademarks in China. A number of Chinese businesses have overstepped legal bounds in their efforts to mimic the successful Starbucks model.

    The organization and structure of Starbucks’ global operations were informed by market research. The organizational strategies employ by Starbucks were derive from Starbucks’ experiences in other emerging markets support an early recognition that China is not one homogeneous market. Also, The organizational strategies employed by Starbucks addressed many Chinese markets.

    The culture dominant in northern China differs radically from the culture in the eastern parts of China. As reflected in the differences in consumer spending power inland which is considerably lower than the spending power in coastal cities.

    Starbucks market area:

    The complexity of the Chinese markets led to regional partnerships to aid in Starbucks’ plans for expansion in China; the partnerships provided consumer insight into Chinese tastes and preferences that helped Starbucks localize to the diverse markets.

    • Northern China: Joint venture with Beijing Mei Da coffee company
    • Eastern China: Partnered with Taiwan-based Uni-President
    • Southern China: Worked with Maxim’s Caterers in Hong Kong

    Starbucks’ competitive advantage is built on product, service, and brand attributes. Many of these have shown through market research to important to Starbucks’ customers. Western brands have an advantage over local Chinese brands. Because of a commonly accepted reputation for consistently higher quality products and services. A factor that establishes the Western brands as premium brands in the minds of consumers.

    When Western brands attempt to increase market share by cutting prices. They erode the very competitive strategy that gives them an edge in consumer perceptions. Moreover, Western brands cannot effectively maintain a lower pricing strategy than local Chinese brands. Maintain brand integrity in new markets. Also, Starbucks’ global brand is valuable, and maintaining brand integrity is a fundamental focus in Starbucks’ internationalization efforts.

    Starbucks brand ambassadors:

    The baristas in China acted as brand ambassadors to help embed the Starbucks culture in the new market. Ensure, that high standards for customer service and product quality maintain at each new and established ​local store. Also, Starbucks’ ability to address changing markets hone by effective and ongoing market research. Establishing and maintaining a global Starbucks brand does not mean having a global platform or uniform global products.

    Their marketing strategy in China was base on customization in response to diverse Chinese consumer target segmentation. Also, Starbucks created extensive consumer taste profile analyses that are sufficiently agile to enable them to change with the market. And to create an attractive East meets West product mix. Moreover, the localization effort is sufficiently flexible to permit each store, the flexibility to choose from a wide beverage portfolio.

    Market Research Coffee of Starbucks Entry into China
    Market Research Coffee of Starbucks’ Entry into China!
  • Case Study of Starbucks Entry to China with Marketing Strategy!

    Case Study of Starbucks Entry to China with Marketing Strategy!

    The Starbucks Entry to China; Starbucks is one of the largest coffee chains in the World. A Case Study of Starbucks Entry to China, so, the company has a unique style and atmosphere in its coffee houses. We chose China because it is the world’s most populous country with over 1.3 billion people live there and the second-largest country by land area. After 1978, the country’s economy underwent dramatic changes which involved such relief as permission for entrepreneurs to start up. Their own business and opening the country for foreign investment. Starbucks managers decided to take advantage of such an opportunity to expand their business into the new region. To evaluate the Chinese market the company used several steps of analysis. Also learn, What is the Growth Strategy for Case Study Starbucks? Case Study of Starbucks Entry to China with Marketing Strategy!

    Case Study on Starbucks Entry to China with Marketing Strategy!

    The following case study explain below are;

    Who might be interested in buying coffee in China?

    To introduce the Starbucks brand the company begun to distribute coffee for free to guests in several Beijing’s hotels in 1994. This initiative indicated that there was a strong demand for their products, particularly among foreigners in China. Local people, who strived to imitate the Western lifestyle. Also showed interest in coffee drinking. Also, the young generation was enchantment by brands and products from the West. These factors led Starbuck’s managers to learn and understand more about the business climate in that Asia country.

    Next step for Starbucks:

    Starbucks was to determine the financial and economic conditions of China. The company’s managers were aware that the Chinese Gross Domestic Product (GDP) continuously grew approximately 9 % on average and a GDP per capita was US$3.800. All these factors led to the rising income of the middle class. That was an undoubted advantage for entering the Chinese market for Starbucks.

    Third level of screening:

    At the third level of screening, Starbucks faced political restrictions. China is a highly bureaucratic country with difficult processes of getting permissions and sanctions to start and run the business. To avoid these challenges the company built and maintain. The firm relationship with Chinese local partners as well as government officials. Also, Starbucks Soong Ching-Ling Foundation received $5 million donations from Starbucks to support education in the country’s poorest regions.

    Fourth level of screening:

    The fourth level of screening involved socio-cultural forces. It showed the biggest challenges for Starbucks, because of the old tradition of tea drinking in China. In the beginning, managers didn’t know how to accustomed Chinese to drink and appreciate coffee. To acquaint employees and Chinese executives with coffee drinking experience Starbucks provided different training programs for them in which they learned more about coffee and Starbucks’ culture. The same way the company taught customers about different flavors and types of coffee. Another aspect was Chinese shopping behavior which was different from the US market. People in China spent the main slice of their monthly budget on food. This also led to success for the company.

    Fifth level of screening:

    The fifth level of China screening was focused on competitive forces. As we mentioned before China is a tea country and the share of coffee was low. Little or no competition for Starbucks was considered as an advantage. Chinese people were familiar only with one international brand which was Nestlé’s Nescafe. However, Nescafe is not a coffee house like Starbucks. As regards local competitions, it was a well-known Chinese brand Li Shen and Japanese brand Zhen Gou Coffee.

    Starbucks Entry to Chinese Market!

    “Starbucks Entry to China” Although Starbucks encountered several challenges in the process of entering the Chinese market, with their case study. They had successfully expanded its business in over 20 large or medium-sized cities of China and opened about 560 storefronts in these cities by 2012. The astonishing achievement owes to its careful marketing assessment and various marketing strategies in different periods. These strategies mainly refer to 2 different modes of entering foreign markets: licensing agreement and joint venture.

    Licensed agreement of Starbucks!

    In 1998, Starbucks adopted the mode of licensing agreement to license its Chinese partner (Beijing Mei Da), a wholesale distribution company to supply coffee beans to some selected hotels and restaurants. Starbucks realized that local partners can have the best understanding of local cultures customers and some related laws. and they have already established a good relationship with the local government. So it was easy to obtain the permissions and sanctions required to start and operate the business in a bureaucratic country like China. Moreover, Starbucks could also maintain a high standard on the control of production, and achieve an ideal revenue in the Chinese market. So licensing agreement was an optimal option for Starbucks to enter into a booming China’s market in the mid-1990s.

    A joint venture of Company!

    Starbucks formed a joint venture with different partners at different times when it entered the Chinese market. Starbucks achieved considerable knowledge about the Chinese market conditions and then began to open Starbucks stores in China. The company adopted a strategy of having three different partners to enter different regions in the Chinese market. In September 1998, Starbucks entered China under a licensing agreement with Beijing Mei Da Coffee Co.Ltd; which was their first partner. In 1999, Starbucks formed a joint venture with the Taiwan-based Uni-President Group and opened stores in Shanghai. In 2000, Starbucks entered into a joint venture with Mei-Xin International Ltd, also called “Coffee Concepts Ltd”. It managed the operations in the region of Hong Kong, Shenzhen, Macau, Guangzhou, and other parts of southern China.

    There are some advantages for Starbucks with a joint venture to enter the Chinese market. First of all, Starbucks choose a good local partner to form a joint venture which can help it better understand the local laws and negotiate better with the authorities. It is beneficial for Starbucks to obtain the required permissions and sanctions so that it can be opened easily. Secondly, local partners know the Chinese market condition better than Starbucks; therefore, it is an effective and efficient method for Starbucks to adopt a few localization strategies to satisfy different regions of customers. Last but not least, the joint venture is a good way for Starbucks to reduce operation expenditure, and it also helps to reduce risks in the Chinese market.

    Marketing and Pricing Strategies!

    “We want our customers to recognize that we’re not coming to China just to make money, we are coming to China to build an enduring company that they can trust and they can view as one of their own”. – Howard Schultz.

    “Starbucks Entry to China” Starbucks modified its menu and tried to localize its brand name by selling some food items. According to the choice of the Chinese people and selling a different kind of tea. They also changed their marketing and pricing strategies based on the needs of the Chinese market.

    When Starbucks started in China, one of the biggest challenges it faced was to make the consumers accustomed to drinking and appreciating coffee. According to analysts, compared to other countries in which Starbucks operated this task was more difficult in China because of the age-old tradition of tea drinking in the country, where coffee was seen as nothing less than a kind of Western invasion.

    Other Strategies:

    Starbucks, like any other multinational company, had to go through the dilemma of choosing whether to follow Chinese traditional tea or take a big risk of following Starbucks’ culture of promoting premium coffee. The company chose to opt for its own culture and sell the idea of the ‘Coffee drinking experience’. Starbucks started by projecting the stores as a place for social gathering. The stores were also larger in area than the ones in the US, as the idea was to make the customers feel at home, relax and spend more time there.

    Similarly, the company took initiatives to teach the customers about the different types of coffees and how to distinguish between flavors. The customers were given some samples to smell as well as sip and then describe their experience. At times if the customers did not enjoy the sample, the store employees asked them to come back again later for another ‘tasting’ session or they offered them some other drink that they enjoyed. They also spoke to the customers about the positive effects of drinking coffee. For example, they spoke about how drinking coffee helped to change their mood and how it was good to have coffee in the morning.

    Localization Strategies of Starbucks!

    Normally Starbucks follows a high standard technique to maintain its stores worldwide. But in the case of China, it adopted some strategies influenced by local culture and market conditions to gain Chinese people’s trust and confidence. Small changes were made in the texture, menu, and store layout just to match with Chinese culture and food preferences. Within a few months of opening the coffee stores.

    The company started observing that coffee culture is different for Chinese people than in the US. Where people are very busy in their daily lives and they just grab their coffee and leave. But in China coffee stores were more like a place for social gathering. Where they can sit and talk for hours with their friends and families. Therefore, according to the market needs they had to square bigger stores. In the US the normal size of Starbucks store is about 1,200 to 1,500 square feet whereas in China. They started opening stores bigger than 2,000 square feet.

    Starbucks Offer:

    It was observed that the Chinese also like to have some food along with their drink. In response to that Starbucks started offering some popular Chinese foods like curry puffs, moon cakes, and traditional cookies. Starbucks incorporates another localize strategy in every country they go, by modifying the name of Starbucks to suit the local language.

    Like in China they Change the name to ‘Xing Bake’ where ‘Xing’ represents ‘Star’ and ‘Bake’ was pronounce as ‘bucks’. Starbucks accepted the reality that maximum people in China like tea more than coffee though the young generation is more likely to go for coffee. So they decided the different menu for different stores in China. In Shanghai and westernized, the stores a standard menu where they served coffee. And in Beijing stores, they introduced different tea-based drinks like coffee-flavored milk tea, green tea-flavored frappuccino, etc. to attract more people.

    Starbucks Entry to China; Promotional and Pricing Strategies!

    To promote themselves in China the company chose a different way. It mostly depended on the people to spread goodwill through word of mouth than commercial advertisements and media products. Their knowledge, organized way of business left a good impression on customers’ mind. The customers were willing to pay a higher price for the brand name. As a result young, urban Chinese, who solely start to associate visiting Starbucks or being seen with a Starbucks cup, as a symbol of social status.

    The tire to build their reputation in terms of, product quality, customer service, employee relationship, etc. To enhance the name of “Starbucks” they had different strategies. From professional to students they had different ways to attract them. They started selling the latest DVD’s, free access to the Internet. And, also use to provide different wireless services so people can feel it like their 3rd home.

    Highest quality coffee:

    Starbucks uses the highest quality coffee beans from ideal coffee-producing climates. They helped Chinese farmers, made good relationships with their workers. They also made a good reputation in the supply market. As a result of good reputation, good quality, and high price. They were able to attract people and also maintain their luxury appeal. The company price its coffees at around US$ 6 for a cup. Which was considering analysts as too costly? Even though it was too costly by Chinese standards but they decide to continue with it because in China. A high price was directly associating with quality.

    Case Study of Starbucks Entry to China with Marketing Strategy
    Case Study of Starbucks Entry to China with Marketing Strategy.

  • Ensure That Business Finance Are Kept

    Ensure That Business Finance Are Kept

    Ensure That Business Finance Are Kept


    Define question of “How to Ensure That Business Finance Are Kept in Order?” Do you struggle to keep your business’s financial affairs in order? It’s an area that can cause many difficulties for a business owner or the decision makers in a company. However, there are many ways you can address this issue so that you can focus on the more productive aspects of your organization. Below are some of the main ways to ensure that a business’s finances are kept in order.

    Taxation

    Every business must adhere to a wide range of tax laws and regulations. However, this is an area that keeps changing and evolving. It’s crucial to keep up-to-date with the latest taxation developments, so it’s advisable for you or someone in your company to increase their taxation knowledge by taking an appropriate taxation course provided by a college or university like Northeastern University.

    Thanks to a range of online master of science in taxation programs, this is not as difficult or disruptive as it sounds. An online MST program can complete over the internet, which means that a student can study at home, at work, or from any location that suits them. As well as this, you can study at times that suit your current lifestyle, which means you can carry on working as normal.

    Hire the Right People

    It’s vital to hire financial professionals who know exactly what they are doing. Some businesses may only require a single financial expert, while larger organizations need a wide range of financial professionals including accountants, bookkeepers, and financial advisors. Make sure you have a strict hiring process that ensures that only the best financial experts work for you because these are the people who could make or break your business in the future.

    Keep Organized and On Budget

    When you’re looking after the finances of a business, you have a lot of facts and figures to deal with. From the start, you need to become extremely organized. Plan and schedule every money related activity so that you have full control of your financial destiny. Creating realistic budgets and sticking to them is also one of the main keys to success. When you are trying to keep your financial situation under control. Role of Price Perception in Consumer Buying Process.

    Cash Flow

    Money is the lifeblood of every business, so it’s vital to have a healthy cash flow. You can achieve this in a number of different ways. Firstly, you should always look for some kind of up-front payment for your goods or services. Secondly, give customers some incentives that will persuade them to pay early or pay on-time, and finally. Offer your customers as many payment options and payment plans as possible. Because, different people prefer to pay in different ways.

    Invest in the Appropriate System or Systems

    A wide range of advance and efficient accounting systems are available that are design to make your life easier. The latest cloud-based systems give you a much more flexible accounting solution. Especially if different people need to access and update your business’s financial records.

    How you deal with the financial aspect of your organization will determine how successful your business venture becomes. This is why it’s extremely important to address each of the points above. Best Characteristics and Qualities of a Good Leader.

    Ensure That Business Finance Are Kept


  • Costs and Benefits in KMS

    Costs and Benefits in KMS

    What are Costs and Benefits in KMS?


    First, understand what is KMS (Knowledge Management Systems)? after Learn Costs and Benefits in KMS: KMS is a method for the improvement of business process performance. A knowledge management system is most often used in business in applications such as information systems, business administration, computer science, public policy and general management. Common company departments for knowledge management systems include human resources, business strategy, and information technology.

    Knowledge Management Systems (KMS) like any other information systems have its benefits as well as costs, weighing the benefits in the relationship with the costs will probably provide a basis for deciding whether to invest in it or not. What is Market-Based Management?

    Costs of KMS

    Although knowledge management system is beneficial and important to the organization, it also involves some cost. These costs vary quite a bit, depending on the size of the organization, the current level of infrastructure and the scope of knowledge management initiative. Also, the cost depends on whether or not there is an existing infrastructure.

    According to Marks, the first step in determining the return on invest­ment for a knowledge management project is to deter­mine the costs. On the surface, this may seem deceptively simple, but there are costs involved in a knowledge man­agement project that may not be readily obvious to the manager who is not experienced in estimating such proj­ects. Costs here include, but are not limited to the costs of hardware, software, and training. 

    1. Software: Obviously, the project will incur the cost of whatever software is chosen to be used. This can range from free, to nearly free, to several thousand dollars for an enterprise-wide knowledge management (KM) system. In addition, any technical infrastructure for the software that is need­ed will also have to be counted in the costs. The cost of software depends on whether the organization wants to use the bare-bones knowledge management systems, which may use e-mail, Web servers, corporate intranets, newsgroups, shared file sys­tems, or centralized databases and other software the company likely already has and uses, or can obtain for little or no cost. Or wishes to institute a level of knowledge integration and manage knowledge transfer which will involve investment in a commercially available product designed spe­cifically for the tasks that the company wishes to be able to accomplish with the knowledge management project.

    2. Hardware: This involves the costs of infrastructure that will be needed to support the system. There might also be the need for internet and network connections. Any upgrades to the com­pany’s network that will be needed in order to handle in­creased traffic attributable to the knowledge management system might also need to be considered. Using current systems and equipment will lead to heavier loads than in the past, and this will need to be considered too.

    3. Labour: It involves the cost that will need to be considered is the cost of employing a member of the IT staff to install the KM hardware and software on all needed servers and client machines as well as configuring the application to meet the need of the business. There will also be the need for maintenance. Knowledge will need to be input into the system in order for it to be useful, the costs for doing this might be heavy early on, but will steady out in the future, and will be based on the use of the system. The cost of training should also be considered as a labor cost due to the time sacrificed for it.

    Other, not so obvious costs that will be incurred include employee training, incentives to entice employees to use the KM system, and the labor costs of employees choosing to use the knowledge management system instead of working on other aspects of the job. Most of these labor costs will become benefits fairly readily, but they are an investment made by the company and must be counted in the costs of the knowledge management project in order to accurately measure or predict the cost of the project. 

    Implementation costs are usually moderate to acquire the hardware, develop internal software or license software from 3rdparty suppliers, and to train employees to utilize the system effectively.  However, the potential savings and increased efficiencies are enormous.  The payback period for most companies is estimated to be six months or less. The payback period will decrease as the size of the organization increases, and with the number of global locations that the company operates. McDonald and Shand ‘reported that a typical consultant-assisted knowledge management system costs between $1.5 million to develop’.

    Benefits of KMS

    Before any organization can invest their funds in anything, there must have been some expected or anticipated benefits or returns, there is need to highlight the benefits and cost of knowledge management systems. This system just like any other information systems is meant to add value to the organization, but knowledge management system, deal particularly with the intellectual asset of the organization. Although the major reason why most organizations invest in Knowledge Management Systems (KMS) is to gain competitive advantage, other derivable benefits are:

    1. Efficiency and Problem Solving: Knowledge management systems when done right will help in ensuring faster response time to key issues, make service delivery faster and also enhance problem-solving. This is because when best practices are well codified, stored, and made available, and when methods for problem-solving can be maintained, and made available instantaneously, employees won’t have to spend time looking for answers. Problem-solving will be eased as it will be possible to solve problems anytime and anywhere which will make the organization more productive, efficient and effective. Due to the nature of this organization, (consulting firm), the application of knowledge management systems will help in carrying out the needed services efficiently. For example, expert and dependable advice will be given to clients based on the availability of experiences and knowledge for comparison and justification.

    2. Better Decision Making: Knowledge management systems will help in making better decisions. When knowledge and experiences are pooled together, there is an avenue for critical considerations and judgment before decisions will be made. This is particularly important when there is need to compare and contrast before arriving at a decision or conclusion. The availability of needed idea, information and knowledge will help in making sure that the right decision is taken after the critical and intense examination which will also make the decision more concrete, justifiable and dependable. This will make this firm able to make necessary decisions on the needed improvements that will make our services more competitive and acceptable (preferable to a client). 

    3. Quality Service Delivery: One benefit that will be obtained will be the increased quality of services after using the KM systems. An employee who uses the knowledge manage­ment system may be able to obtain knowledge that will reduce the number of defective services that employees deliver or will increase the effectiveness and quality of the services being delivered. Higher quality services mean fewer dissatisfied clients, which mean fewer complaints from clients. Fewer complaints improve the company’s revenues and profit and are a benefit that can be attributed to a knowledge management system. If a company can notice a decrease in clients’ dissatisfaction since the knowledge management system was launched, at least a significant portion of this increase can be attributed to the KM system and marked as a benefit for it. This means that this organization will be able to come up with better and more competitive services due to the possibility of sharing valuable organizational information, knowledge, intelligence, and experiences among employees. This serves as a good way of avoiding or reducing redundancy and client satisfaction will be secured due to the improvements that will be introduced.

    4. Reduced Cost: Cost reduction is also a benefit that can be realized through the use of a knowledge management system. ‘Cost reduction represents approximately one-quarter of benefits from KM projects’. Besides la­bour costs, knowl­edge management systems may also yield savings in material costs. This can be as simple as savings on paper that were previously needed to disseminate memoranda that are now being replaced with entries in the knowledge management program, but the true benefit of cost reduc­tion through knowledge management is realized when employees discover and share methods for reducing costs on final products. Management will likely notice these savings but will need to speak with employees to understand that the source of the savings is indeed from the knowledge management system. This means that this organization will be able to reduce the cost of inviting or seeking professionals, due to the availability of needed knowledge and experiences.

    5. Speed and Service Delivery: Knowledge management systems help in compressing time and space for efficiency, reducing time wastage, which means the increase in workers’ productivity. Employees who use the knowledge management system will be able to work faster, because they will find information on the knowl­edge management environment that will allow them to avoid repeating the work of others, such as a snippet of computer code, or allow them to forgo extensive research that would ordinarily be needed to address a situation, or simply enlighten them to practices others have found that allow the job to be done more quickly. The only way to measure this labor cost savings will be through interviews with the employee. The employee’s estimate and confidence in it will be calculated as a benefit for the knowledge management system. This means that clients will be attended to as fast as possible, which will give the firm an advantage, especially by reducing delay.

    6. Reduced Training Time: An investment in these systems will help to reduce training time for new employees. Due to the availability of the needed knowledge and experiences, employees will be able to constantly apply them which will improve their ability. This training time for employees will be reduced as a result of the knowledge they are able to acquire. This means that employees are being trained indirectly through the application of knowledge management systems which reduces direct pieces of training. This will lead to a kind of strategic movement through well-coordinated efforts among peers. Thus the organisation will be able save time and money.

    7. Retention of Intellectual Properties: Knowledge management system helps in retaining intellectual properties after the employee leaves if such knowledge is codified. This is because when knowledge is codified, it is added to the organisation’s knowledge repository (a collection of internal and external knowledge), thus when knowledge is captured from an employee, such knowledge will remain even after he/she leaves. This means that it will be possible for the organisation to have a large knowledge base of several knowledge and experiences as a result of the historic knowledge contribution process. This will also help in building employees to become professionals as a result of the availability of previous experiences and knowledge for acquisition. 

    8. Increased Revenue and Development of New Business Ventures: Knowledge Management Systems helps in providing the personal capacity for revenue generation. It allows employees to work together and share ideas about certain plans especially in a global firm. Due to the cross-pollination of ideas among employees, there is a possibility that new business ventures will be developed and this will lead to an increase in revenue for the organisation. Due to the availability of ideas and experiences, this organisation will be able to manage the available knowledge for productivity and profitability.

    9. Sharing Business Resources over Long Distances: Through the use of knowledge management systems, the sharing of business resources is made possible. This is because when ideas and knowledge are pooled together, a knowledge-base is created from which each employee can access required information over long distances. If used effectively, these systems will be able to foster the company’s culture across geographic boundaries.  All employees will become part of an overall network, each with simple access to the intellectual capital of every member within the network. As a result employees will be able to perform better and jobs would be done faster. This is very important for a global consultation firm like this where relevant information is needed for service delivery. There will be no need to depend solely on the headquarters before needed information are gotten.

    Costs and Benefits in KMS