R&L Crowdsource
April 2013
Table of Contents
Executive Summary 4
Target Markets 5
Opportunities & Threats by Porter’s 5 Forces Model 6-7
Business Strategies, Web 2.0 Technologies & Applications 8-9
The Business Model 10-14
References & Overview 15-18
Executive Summary
The purpose of this report was to design a start-up strategy and IS infrastructure for Ruth & Luke (R&L) Crowdsource’s business. Research for this report identifies the focus (target market), opportunities and threats in entering the market and provides a detailed business model.
This report incorporated recent statistical data in relation to online social media, various
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The company will have a middleman role, which connects the suppliers to its clients. There are few economies of scale in place because there is no significant capital investment required and specialised technology is not required. The company will likely encounter other competitors coming into the market when it commences sooner or later. However, its strong brand development achieved by successful and stable customer relationship established will lead to a low threat of new entrants in the market.
Substitute products and services Those who request these services would be less concerned about the process, caring only about the outcome. The assumption based on this initiative is that “the wisdom of crowds” will come up with optimised ideas for the challenges. Furthermore, clients who are considered as conservative will have a tendency to solve the business problems with internationally well-recognised business consulting companies as they can work collaboratively. They provide more systematic ways of solving problems and can work interactively with the companies as their group of employees will work for the company with well-trained and qualified human labours while it costs more. This may result a high level of client satisfaction rate. Furthermore, there is the likelihood that large sized
The manager will need to ensure that they have the correct level of rapport with their employee. Too familiar in nature may be misconstrued as forward and harassing in the wrong context. However no personal rapport whatsoever may provide the receiver of the information with the impression that the sender of the information is just not interested. A fine line must be weighed up for each individual. When a good rapport has been achieved, then the person will uncritically accept suggestion or advice which they are given.
Therefore this industry is a pretty good one to already be in, but would be very tough to try and break into. Since established firms do not have to worry about threat of entrants or substitution, they can focus on making their core business practices cost efficient and profitable. Although firms have to deal with high buyer and supplier power, every firm has to deal with these issues. Therefore this leaves only rivalry to compete on, which forces firms to stay sharp, observe the competition, and provide excellent service to the firm’s customers to generate profit.
One of the key roles of social media from a marketing perspective is the development of a client based platform. It is becoming an increasingly important part of any business’s marketing. Businesses can utilize existing online platforms to build networks of current and potential clients. By being active online allows businesses to connect with their customers in innovative ways to become a trusted source of information and convey the passion they have for their industry.
1) Write the following as an algebraic expression using x as the variable: Twelve less than six times a number
Refer as needed to the material in Chapters 12 and 13 of the textbook. Keep the following tips in mind as you research data, as well as organize, analyze, interpret, and illustrate these data:
Overflow occurs when the two numbers of similar signs are added together and a result with an opposite sign is produced.
a. A description of the social, economic and cultural factors- giving at least one example of each category.
Ideas can be explored thoroughly in a dynamic home school environment, where in a traditional classroom it might need to be pushed aside in order to meet the next learning objective on time. (Jackson, 2013)
ACCT505 Part B Capital Budgeting problem Clark Paints Data: Cost of new equipment $200,000 Expected life of equipment in years 5 yrs Disposal value in 5 years $40,000 Life production - number of cans 5,500,000 Annual production or purchase needs $1,100,000 Initial training costs Number of workers needed 3 Annual hours to be worked per employee 2000 hrs Earnings per hour for employees $12 Annual health benefits per employee $2,500
Each location will have their own transaction processing application that is constantly collecting products dispensed and patient related information. This information collectively, is used as input to the Management Information Systems.
ABC Company includes post-balance sheet events in our notes. All contingencies or events that occur after the balance sheet date can have a material impact on our operating results, including the operating results of our subsidiaries. All events are fully disclosed. The potential impact of the event is also disclosed, along with the estimate of how significantly the event may impact our financial position.
The study will take the form of a cross-sectional design in which the target population will be people selected via convenience sampling. It aims to assess the view of the customers at a specific point in time. The tools of study to be used will include a random selection of feedbacks from social media. Also, an online search on databases will be conducted to provide relevant journal articles on the companies. Online sources will also be useful in finding out relevant information about the Company websites, and their online platforms in social media will also be examined for relevant
Strategy formulation has been acknowledged as one of the most crucial factors of ensuring the long-term growth of the business. However, the manner in which strategy is formulated, and most importantly, the nature of the strategy chosen for the company determines its future position in the marketplace (Grant, 2005).
In a global environment, the strategies that managers pursue have a significant effect on a business performance as compared to the competitors. Hill and Jones define strategy as a set of actions that a company’s managers put in place in order to increase performance of the company (2013). When the strategies lead to a superior performance of a company relative to its competitors, then the company is said to be at a competitive advantage. This is a case study of Federal Express, in the small package express delivery industry. It
“Competitive strategy involves positioning a business to maximize the value of the capabilities that distinguish it from its competitor’s” (Porter 1980:47). A successful business plan requires first and foremost the formation of an appropriate strategy. Through the implementation of a suitable strategy, the company is able to obtain its own industry niche and gain an understanding of its customers (Porter 1985). Whichever strategy is adopted it must be adequately integrated within the firms goals and missions to achieve a competitive advantage (Parker and Helms 1992).