Category: Success

Introduction

It is worth noting that dividends represent the money income of shareholders. They reflect the efficiency and success of a commercial organization. As the research shows, the majority of organizations consider reinvested earnings as the leading source of financing, and because the payment of dividends reduces its volumes, the decision on the way dividends are paid affects the size of the attracted sources of capital.

One of the most important tasks of the dividend policy is to ensure the optimal correlation of shareholders interests with sufficient financing aimed at the development of the company. The purpose of this paper is to review the studies conducted on the topic of dividend policy and to determine whether dividends are significant for companies or not.

Summary and Reflection

It is crucial that the self-financing of companies can directly depend on that part of the net profit, which organizations send to pay dividends. Consequently, this can lead to a reduction in the rate of growth of equity and solvency. However, if companies do not pay dividends to their shareholders, they, in turn, can start getting rid of securities, which will lead to a decline in the market value (Rahgozar & Rahgozar, 2014).

Thus, companies need to anticipate whether the number of dividends paid will affect the wealth of the shareholders and what maximum amount of payments can be furnished by the enterprise. Many experts in the industry emphasize that in the long run, dividend yield makes a big contribution to the overall profitability (Rahgozar & Rahgozar, 2014). The reviewed researches have shown that the package consisting of shares with high profitability will surpass the one with low profitability as well as market profitability for a long period. Nevertheless, Fu and Blazenko (2015) argue that this is not characteristic of the current market.

They have provided a hypothesis that the returns for non-dividend paying firms are no greater than dividend-paying firms despite high-risk metrics (Fu & Blazenko, 2015, p. 15). Notably, their assumption has been confirmed by the analysis of common-share returns, which evidenced no significant difference between the two polar alternatives despite the existence of certain risks in the case of non-dividend paying enterprises.

In the same manner, Denis and Osobov (2007) have conducted their study to determine the regular connection between dividend-paying and non-paying firms. Interestingly, the research results support the provisions promoted by the previous group of researchers. That is to say, the propensity to pay dividends depends on the domain of a life cycle (Denis & Osobov, 2007). Therefore, the inclination to make payments depends on the scale of business, the capabilities to expand or go international, and the earned equity mix. For this reason, it can be stated that their research supports the approach assuming that the preparedness to pay dividends depends primarily on the allocation of the free cash flow (Tsuji, 2012).

Conclusion

Thus, it is impossible to make an unambiguous conclusion about whether dividends do matter. On the one hand, some researchers and experts in the field confirm that the share price directly depends on the size of dividend payments. On the other hand, as analysis of the articles has revealed, investors can appreciate highly the value of the shares of the enterprise that does not make payments. The main factor that testifies that dividends are not important is that if investors are well informed about the development programs, directions of reinvestment, and other key factors, their valuation of shares will still be high.

References

Denis, D., & Osobov, I. (2007). Why do firms pay dividends? Evidence on the determinants of dividend policy. SSRN, 1-50.

Fu, Y., & Blazenko, G. (2015) Returns for dividend-paying and non-dividend paying firms. International Journal of Business and Finance Research, 9(2), 1-20.

Rahgozar, R., & Rahgozar, N. (2014). Returns of dividend vs. non-dividend-paying stocks and their relations with financial distress and market risk measures. The Journal of Finance Issues, 13(1), 35-42.

Tsuji, C. (2012). A discussion on the signaling hypothesis of dividend policy. The Open Business Journal, 5, 1-7.

The article under consideration is called Product-placement planning and is dedicated to the scientific research of the product-placement planning. The article discloses the success rate of 470 products in 35 movies and considers such points as product placement, advertising media planning and interrelations between the viewer and the customer. The value of that article is in its untraditional approach to the market research.

The purpose of the research is to find the target market according to different criteria and to figure out what type of product-placement is the most important in accordance with the memory type of customer. As a result, the researchers defined that verbal product placement is more important than visual placement which has a direct relation with memory. The author of article also defines the importance of diversity of the target groups in respect to the age sex, the status in the society and psychological aspect. The author emphasizes that the main merit of the research is that one could observe the connection of the viewer and the movie and the consumer and the product at one the time.

The article also covers the points concerning the methods applied while conducting the research. The most widely used one is General Media Study the scope of which is to gather information about the movie viewers via magazine articles, newspaper, television adds, radio. According to this study, 35 movies were the winners of successful product planning. The author of the article points out the merits and drawbacks of the method under consideration. The great advantage of that method is the research was carried out in the shortest time. The weak point is that the method didnt reflect the wide variety of the requirements to the brand. For more profound comprehension of the information the author presents the relevant diagrams that highlight the result of the research in a proper way.

Coming out of the research the author formulates the question for consideration and further solving them. While analyzing the results the authors pays attention to the general targeting accuracy stating that movie is a reliable bearer for the advertised goods in the product was reasonably placed. That proved the skillfulness of the advertisers and their awareness of the market. Moreover, the analysis of movie characteristics and placement condition were also taken into consideration. Secondly, beside target accuracy the author makes a conclusion that the success of product and the plot of the movie are closely connected. Hence comes, the more it is attached to the movie plot the more successful the product will be.

Summarizing up the article under consideration the author emphasizes the great value and high effectiveness of the study indicating that the movies are considered to be the relevant vehicles for advertising the product. Further, the study of differences of the target accuracy showed that the brand Pepsi has come to the core overcoming its competitors. After clarifying the final results the author pays our attention to future research based on the previous one that will be consisted of several points. Therefore, the article will help the researcher in future successful studies of the target market. Owing to that fact, the author of the article has made an important contribution to the improvement of the advertising process and to the development of the marketing strategy. Therefore, the article has a lot of perspectives for further amelioration of advertising schemes.

Components of the Operations Strategy

The significant component of the operations strategy in the business plan refers to production systematization and positioning. This aspect is crucial since it focuses on the development of processing systems and finished goods inventory plans. Additionally, the component of the focus of factories and service facilities assumes that an organization is focused on a specific market niche (Sanders & Reid, 2019). It implies that the firms production and other efforts are focused on meeting the narrow, homogeneous needs of a relatively small group of consumers.

The other element relates to product design and development. This stage presumes that a product goes through different phases (growth, maturity, decline) on the market. In terms of tactical decisions, technology is dominant in the preparation of resources and personnel and the planning of the organizations budget (Sanders & Reid, 2019). Workers, cash funds, materials, and other resources are also one of the main components of the strategy that determines the reception of the necessary goods or services. Finally, the choice of layout, facilities and location for the production of goods or services determines the success of the entire organizations mission.

The Importance of Service Blueprint

A service blueprint is a comprehensive way to refine and detail each aspect of service. This is a schematic representation of everything that happens during the provision of the service. The map is usually compiled by a cross-functional group of representatives from different departments whose processes affect the customers experience (Zaman et al., 2018). This is a necessary and valuable tool that helps to get a holistic picture of all the relationships between the client and the service provider.

With the help of the service blueprint, one can find the weakest link in providing services to clients and understand why they periodically stop buying the companys products. Furthermore, it introduces innovations and highlights the non-obvious processes on which the customer experience is built (Zaman et al., 2018). This tool helps identify opportunities for optimization, indicating the most critical points and eliminating duplicate or unnecessary ones. Most importantly, it is an excellent way to bring the companys departments closer together and make sure that everyone is pursuing the same goals and sticking to the companys mission statement.

Sales Forecast and Operational Budget

A budget is a monetary statement of expected revenues and expenditures for a budget period prepared by management before the start of the budget period. A forecast is a projection of economic trends and results based on historical data (Wahlen et al., 2017). The main difference is that a budget is an expectation of what a firm wants to attain, while a forecast is an assessment of what can be achieved.

Use of Financial Statements

A balance sheet aims to reflect the financial condition of an organization at a specific date. It helps to correlate the liquidity of assets and the urgency of liabilities. Meanwhile, the profit and loss statement summarizes information about the income received and expenses incurred by the business for a certain period. It is the most important financial report because it shows whether the company has achieved an acceptable net profit (Wahlen et al., 2017). The financial statement of cash flows contains all receipts and expenditures of the companys funds for the reporting period. It shows how much money the firm received and how much it spent (Wahlen et al., 2017). It records each transaction (income or expense), notes who paid and where the money was received, and divides the movement of funds by category.

The Importance of Financial Projections

Financial forecasts are crucial to keeping an investor interested simply because they do not want to waste money. Therefore, each indicator included in the calculation must be reasonable and verifiable; the initial data on which the financial forecast is based must be consistent with the conclusions. When the information is transparent, the investor can be sure that they will not suffer money loss but rather benefit from the business.

References

Sanders, N. R., & Reid, R. D. (2019). Operations management: An integrated approach. Wiley.

Wahlen, J. M., Baginski, S. P., Bradshaw, M. (2017). Financial reporting, financial statement analysis and valuation. Cengage Learning.

Zaman, M. H., Rahman, M. S., & Hossain, A. (2018). Service marketing strategies for small and medium enterprises: Emerging research and opportunities. IGI Global.

Introduction

By the beginning of the second quarter of 2020, the internal operations of many business organizations changed due to the coronavirus pandemic and its consequences. This paper examines how COVID-19 impacted business operations and discusses why some companies, like Zoom, prospered, and others, like Washington Prime Group, had to file for bankruptcy during the pandemic. Operating techniques are a considerable element of any company and may impact other business functions, but they were not the primary reasons for Zooms success and Washington Prime Groups bankruptcy during the pandemic.

Pandemic Operations

Operational functionality includes operations related to manufacturing, supply chain, and procurement and often appears as a core element of any business organization. Companies rely on their operations for many purposes: for example, to maintain daily operations and position themselves for growth in the world market (Busellato et al., 2021). However, the outbreak of the coronavirus pandemic significantly impacted the way organizations operated, accelerating changes within many business industries. For instance, the just-in-time systems of the firms that work closely with many suppliers were altered due to the regionalization forced by the COVID-19 (Busellato et al., 2021). Many countries had to close their borders during the virus outbreak, which severely affected international supply chains. The corresponding changes were even more significant due to the automation trend: the importance of speed grows in the world market nowadays, increasing the role of just-in-time systems (Busellato et al., 2021). Thereby, operational changes caused by the coronavirus pandemic also impacted the marketing business functions of many companies.

Following the necessary alterations within supply chains, companies also had to improve their capacity planning to satisfy rapidly changing demand. Limitations in supply chains caused by the closing of the borders made many organizations seek alternative suppliers that could provide critical components, reducing their dependence on a single source (Busellato et al., 2021). The primary purpose of such decisions is to build resilience within a firm, which requires reconfiguration of both the supply chain and base. For example, Busellato et al. (2021) report that one manufacturer identified that an entire class of their products significantly depended on one critical component, and they made a series of decisions to improve capacity. The related alterations helped the company mitigate the risks and optimize its inventory, helping it maintain stability during the pandemic. Therefore, capacity-related operational changes could potentially influence other business functions such as accounting since organizations had to reallocate their resources to integrate into newly formed supply chains.

Furthermore, changes in capacity planning are always correlated with the corresponding alterations in inventory management and control. In the case discussed in the previous paragraph, one of the outcomes of the determination of the critical component in the supply chain was adding safety inventory (Busellato et al., 2021). Changes in the supply chains due to the coronavirus outbreak led to the immediate rethinking of the strategies related to distribution networks in many companies. Demand hotspots changed, which caused the necessity to reconsider trade-off routes and relocate inventories (Busellato et al., 2021). Optimizing inventories and transportation costs of goods, materials, and resources became one of the top priorities for many companies. Thus, operational changes in the field of inventory control and management also affected the accounting component of businesses since the costs of many operations had to be reconsidered.

Case Studies

Pandemic Success Company

Although most companies had to change their operating techniques due to the coronavirus pandemic, the outcomes still varied for different companies. The following section of the paper analyzes one organization that was successful during the outbreak and another that had to file for bankruptcy. Firstly, the organization that managed to prosper in the COVID-19 period is Zoom, a well-known platform for video conferencing. The firms success is partially evident: newly applied rules of social distancing and rapidly increasing demand for various online communication methods led Zoom to become one of the most popular companies in the market. However, the same reasons immediately made the company seek ways to improve their operations to match the market demand and be able to satisfy their customers (Salonga-Teng et al., 2020). Zoom had to significantly expand its staff and collaborate with other organizations in order to control the companys meteoric growth and take advantage of that.

The primary operating change Zoom had to make to adjust to new conditions established by the pandemic was associated with creating a new flexible infrastructure. According to Salonga-Teng et al. (2020), the company had to implement the Hub and Spoke work model  in other words, the satellite office system. The model implies that many small offices are spread across several locations within a city instead of single headquarters, allowing employees to reduce their travel time to work. In addition, the company made significant changes to its hiring system: Zoom implemented spotting potential employees on social platforms, remote onboarding of staff members, and primary screening of candidates before setting meetings with HR managers (Salonga-Teng et al., 2020). These hiring innovations allowed the company to improve its hiring process and expand fast, meeting the increasing demand for Zooms services. Thereby, the operation that was influenced the most was scheduling: the firm was able to control and optimize its workloads with the help of additional employees, significantly enhancing internal business processes.

Company that Filed for Bankruptcy

Washington Prime Group is an example of a company that did not manage to prosper during the coronavirus pandemic and had to file bankruptcy eventually. The company owned more than a hundred shopping malls across the United States, and Washington Prime Group was forced to close most of them due to COVID-19 (Summerfield, 2021). The primary reason for the companys challenges was its financial issues. The sector of electronic commerce in modern marketing became more and more popular even prior to the pandemic, and the outbreak made even more people prefer purchasing goods online (Summerfield, 2021). Eventually, shopping centers, including those in possession of Washington Prime Group, started losing customers, leading to a significant decrease in revenues. The company under discussion tried to take some actions to improve the situation and achieve positive outcomes, but those attempts were not successful.

Since Washington Prime Groups issues were associated with its financial condition, the company decided to alter its operating techniques in this field. The firms main goal after the pandemic outbreak was financial restructuring: the companys operations were in dire necessity of monetary aid to deal with debts and maintain the business simultaneously (Summerfield, 2021). Eventually, Washington Prime Group and its creditors were able to come to a restructuring support agreement with each other. The company hoped to maximize its assets value and enhance its operational infrastructure (Summerfield, 2021). However, it was not enough to deal with the overall debt, control the business, and adjust to the pandemic conditions at the same time. Washington Prime Group had to file for bankruptcy and leave the business for an uncertain period.

Overall Analysis

Although it is apparent that operational functions of business organizations have crucial importance, it seems they are not the reason Zoom and Washington Prime Group had differing results during the pandemic. The answer is most likely in the nature of the companies businesses: the demand for online communication increased sharply, why the industry of shopping centers suffered a severe decrease in demand (Salonga-Teng et al., 2020; Summerfield, 2021). In Zooms case, the company reacted to its incredible growth immediately and was able to adjust its internal operations to meet customers requirements and become successful. Nevertheless, the primary reason for the organizations success is associated with uncontrollable circumstances. Washington Prime Group, in turn, could not do anything to save the business: rules of social distancing and unwillingness to use shopping centers instead of online marketplaces pushed people from the companys facilities. Both companies had to make significant changes to their internal operations, but they were not the main reason for Zooms prosperity and Washington Prime Groups bankruptcy.

Conclusion

Overall, internal operations are highly significant in business and correlated with other business functions, but in the case of Zooms success and Washington Prime Groups failure operating techniques were not the determinative factor. Zoom, however, managed to adjust its operations to support the growth that came with the pandemic, while Washington Prime Group attempted to restructure its finances to deal with the challenges of COVID-19. Still, operating techniques can often help position the organization in its respective field, impacting the internal business functions of the company.

References

Busellato, M., Drentin, R., Kishore, S., Nair, S., Schlichter, M., & Singh, A. (2021). Rethinking operations in the next normal. McKinsey & Company. Web.

Salonga-Teng, L., Cragg, T., & Chess, J. (2020). Significant growth in a pandemic: How Zooms shared services team in Manila adapted to the companys meteoric rise [Webinar]. SSON. Web.

Summerfield, R. (2021). Washington Prime Group files for Chapter 11 bankruptcy protection.Financier Worldwide Magazine. Web.

Professional networking is a crucial commercial skill based on establishing relationships with other professionals within a particular occupation field. Networking directly lays the groundwork for graduate career development oneself. According to Moore (Employability networks, 2016), networking serves as the hidden job market, considering that meaningful relationships before launching a career can provide oneself with a valuable asset for the workplace in the future. Some of the most common networking examples include meetings in groups, alumni connections, and finding a mentor. However, in terms of modern technology-based society, I believe that social media is the leading networking vehicle for assisting in the recruitment process and job search.

Creating essential networking connections might be vital to measuring and evaluating ones career success. This is an important step in defining our starting point and knowing the aimed objectives (Moore, Career development and transition, 2016). Regarding social medias role in building work relations, it reached a 160 percent increase in job demand, together with collaboration skills (Moore, Where are the current and future jobs, 2016). It is important to understand that relationships with other professionals might directly affect career advancement (Grant, 2016). A strong network enables a better position to learn about new career opportunities. The individual can network in both formal and informal settings, in real life, or due to online platforms. When using social media as a tool for successful networking, one should engage in group discussions, postwork-related information, and maintain an online connection with other users. To conclude, networking asset in business is a powerful resource for professional success as it provides us with access to opportunities we might not be able to find by ourselves.

Reference List

Grant, R. (2016) The value of professional networking for career success.Southern New Hampshire University, Web.

Moore, T. (2016) Employability networks lecture [PowerPoint presentation].

Moore, T. (2016) Career development and transition lecture [PowerPoint presentation].

Moore, T. (2016) Where are the current and future jobs? [PowerPoint presentation].

With the launch of Kickstarter, a global reward-based crowdfunding platform, serial crowdfunding became a viable counterpart to serial entrepreneurship. Social capital represents the resources acquired during social relationships (Cai et al., 2021). Serial crowdfunders preserve while serial entrepreneurs transfer or terminate their business and cannot always effectively employ their original social capital (Carbonara et al., 2010). In the following essay, the differences between the social capital accrued by traditional serial entrepreneurship and serial crowdfunding will be explained, and the effect of these differences on project finance will be considered.

The types of social capital built via serial entrepreneurship or serial crowdfunding have two considerable differences. First, social capital is associated with the campaigns success, so serial crowdfunders rely on the platforms community, while traditional entrepreneurs cannot build such a community from existing customers and investors. Serial crowdfunders establish internal social capital by attracting active platform users with the same values, which creates an advantage for subsequent campaigns (Buttice et al., 2017). Serial entrepreneurs also hold diverse social capital, which might become inadequate after they sell/transfer their original businesses. Second, social capital developed through serial crowdfunding has a limited life cycle since various types of internal social capital from previous campaigns substitute each other. The external network of suppliers, business partners, and customers helps develop new products or improve existing businesses (Daniel et al., 2018). Moreover, serial entrepreneurs have substantial experience and managerial skills to efficiently attract and negotiate with new investors and build durable external networks, so their social capital can be reestablished, ensuring adaptability to ever-changing business demands.

The differences in social capital affect project finance in several ways. Serial crowdfunders rely on personal contacts to ensure their projects early financing via bank loans, angel investors funds, or venture capitals. Serial entrepreneurs transfer social resources from previous ventures or establish new networks (Simmons et al., 2017). Social capital is a crucial resource, as it engages information and trust, facilitating decision-making and decreasing uncertainty among stakeholders and entrepreneurs (Skirnevskiy et al., 2017). Thus, serial crowdfunders can gather stable funding for their subsequent campaigns by appealing to the platforms community, while serial entrepreneurs have to find appropriate investors for their new projects. Serial entrepreneurs may need to adjust leadership approaches to maximize social capital, retain connections, and gain control over the outcomes and financial stability of their future ventures (Simmons et al., 2017). Maintenance of social connection with campaign supporters can result in the fast acquisition of venture capital funds and their increased amount, but the limited life cycle of serial crowd funders internal social capital should be considered.

To sum up, serial crowdfunders rely on internal platform-based funding support that is characterized by the effective acquisition of venture capital and a limited life cycle, while serial entrepreneurs transfer existing investors/customers or use the experience to find new supporters. The differences between the types of social capital influence project finance that comes from either stable community supporters in crowdfunding or previous/new external social capital in serial entrepreneurship.

References

Buttice, V., Colombo, M. G., & Wright, M. (2017). Serial crowdfunding, social capital, and project success. ET&P, 41(2), 183207. Web.

Cai, W., Polzin, F., & Stam, E. (2021). Crowdfunding and social capital: A systematic review using a dynamic perspective. Technological Forecasting & Social Change, 162. Web.

Carbonara, E., Tran, H. T., & Santarelli, E. (2020). Determinants of novice, portfolio, and serial entrepreneurship: an occupational choice approach. Small Business Economics, 55, 123151. Web.

Daniel, S., Midha, V., Bhattacherhjee, A., & Singh, S. P. (2018). Sourcing knowledge in open source software projects: The impacts of internal and external social capital on project success. The Journal of Strategic Information Systems, 27(3), 237256. Web.

Simmons, S. A., Maldonado, T., & Randolph, A. (2017). The social capital of serial entrepreneurs: Using lessons of humility to build not burn it. Academy of Management Proceedings. Web.

Skirnevskiy, V., Bendig, D., & Brettel, M. (2017). The influence of internal social capital on serial creators success in crowdfunding. ET&P, 41(2), 209236. Web.

The remarkable success that Marvel Entertainment and its subsidiary, Marvel Studios, enjoyed may be attributed to several factors. The initial branding of Marvel Studios focused on comic books, declining sales by the end of the 20^th century (Yockey 2). Marvel has been struggling to keep afloat for a while, filing for bankruptcy at one point in 1996 (Yockey 2). In the early 2000s, Marvel developed its readily recognizable cinematic superhero brand, starting with the X-Men in 2000 and growing with Iron Man in 2008 (Yockey 3). Another advantage the company already had was the close connection with the fan community (Bryan 149). Having the heroes familiar to the audience from comic books played by charismatic, well-known, and fitting actors only supported the success of this initiative (Hill 445). Specifically appealing to the fanbase by introducing Easter eggs and post-credit scenes shows that the company knows its target audience and upkeeps an intimate relationship with it (Lu et al. 1930). The theme of superheroes truly resonates with the public, who is already deeply invested in the comic books universe, so it is unlikely that a different storyline would gain similar recognition.

However, the role that the Walt Disney Company cannot be discounted in Marvels success journey. The 2009 acquisition by Disney, worth $4 billion, gave the company critical financial support to expand on the brand (Yockey 2). The purchase itself and the amount that Disney was ready to contribute indicates that its representatives recognized both the financial viability and cultural power of the Marvel brand (Yockey 2). Disneys risky game was a success: Marvel franchise has become the highest-grossing one in the world and is now worth over 50 billion USD (Chmielewski; Lu et al. 1929). Now, Marvel has access to an unprecedented wealth of resources, advertising platforms, and much larger teams to support mass production. Lu et al., however, argue that Marvel still does not utilize Disney resources such as theme parks or streaming services to their fullest potential (1932). Hence, the success that the studio enjoyed would not be the same if not for its merging with Disney.

Works Cited

Bryan, Peter Cullen. Geeking Out and Hulking Out: Toward an Understanding of Marvel Fan Communities.Age of the Geek: Depictions of Nerds and Geeks in Popular Media, edited by Kathryn E. Lane, Springer International Publishing, 2018, pp. 14965. Springer Link, Web.

Chmielewski, Dawn. From Avengers To Shang-Chi, What Marvel Studios Is Really Worth To Walt Disney.Forbes, 2021, Web.

Hill, Charles W. L. Global Business Today. 12th ed., McGraw Hill LLC, 2022.

Lu, Zijie, et al. The Analysis of Marvel (Disney) Marketing Strategies  Based on the Comparison between Marvel and DC Case. Advances in Economics, Business and Management Research, vol. 648, Atlantis Press International B.V., 2022, pp. 192934, Web.

Yockey, Matt. Make Ours Marvel: Media Convergence and a Comics Universe. University of Texas Press, 2017.

Introduction

The cheesecake factory is a restaurant business that operates over 165 upscale in America and manages bakery production facilities. David M. Overton is the companys founder, started the first Cheesecake Factory restaurant in 1978 in Beverly Hills, California. The first restaurant established the approaching group project. The company operates one self-service and other baked goods. In 2006 Cheesecake factory opened a second bakery in the Rocky Mount plant which handles the delivery of products for the eastern half of the United States. In early 2011the Company then expanded to the Middle East.

What are the components of a restaurant concept?

A restaurant business is a risky investment, but starting the restaurant in the right marketplace can be accomplished within a short period. The components of a restaurant concept that make a successful restaurant business investment are:

The selling point, apart from giving the customer the best food and service, also requires specific products to market to attract more customers. It is an emotional connection with the customer, and they will always remember it. People use a different strategy to conduct their business, and having an unusual pricing strategy will attract more customers than comparing your opponent products price. The Cheesecake factory has pricing menus focused on gross profit. The cheesecake marketing strategy helps them to sell their product and service. By using the word of the mouth, where another client a recommended to the restaurant by the old customers, people know the plant products. Cheesecake also advertises its products online, for the potential customers understand their delicious product and can make an order. Marketing ploy attendance is a prerequisite then having nutritious food, and there is a need to collect data and modify it to be able to understand the market trend of the business.

What are the unique selling points that have led to the success of the Cheesecake Factory?

The unique selling points of Cheesecake factory are their skillful management team and their higher concentration, meeting their customer expectation through emotion Cheesecake factory faith in people minds. At the entrance, of most Cheesecake restaurants, they have the burger king offers accommodation, and they perceive to have it. This is a real emotional relationship with customers; they will remember how they felt. Cheesecake does its job by positioning its restaurant within the market reach and defining the restaurant target market in terms of pricing and marketing strategies. The Cheesecake factory accelerated the companys competitive strategy by identifying its rival strengths and weakness and increasing consumer spending in the market.

Conclusion

The Cheesecake factory has built its brand name for a long time, and people get to know about their products and service across the globe. This is because of the emotional connection, built vivid memories and link. The Cheesecake Company is successful because of the expertise nature of the owner code, together with his management team. The accelerated opening of a new restaurant and the development of fresh bakery products. The company has provided the main reasons for pursuing a restaurant business venture, by being the only one who does it, in the best way.

The presented strategy comprehensively and in detail describes the work of Prime Chocolate. Strategic and technical processes are perfectly aligned, and the companys work processes focus on financial and personnel management. However, the presented strategy overlooks some details that may transform the business under the requirements of new realities, including the challenges associated with the pandemic. This paper aims to analyze the internal factors that could contribute to the future success of Prime Chocolate.

The company may reconsider its CSR responsibilities, as phasing out palm oil and partnering with charities are not adequate steps to create a competitive marketing position. At the same time, Prime Chocolate can revisit its motivation strategies (Aldossari et al., 2020). Participation in local and national economic processes is a side effect of the companys activities and cannot be considered a strategic aspect or advantage. Such participation is an indirect consequence of the core business, not the targeted CSR practices. If a company has goals of improving its image in the local labor market, it needs to develop a corresponding strategy and tactics.

In advancing and conquering the market, a company can focus on its strengths, including a complex pattern of personnel management and the use of hired labor. At the same time, a more ethical corporate culture will improve workflows in personnel management. Aligning the relationship between managers and employees can positively contribute to employee motivation (Dhamija et al., 2021). Given the discrepancy between the roles of employees and managers, there is a need to create new job positions for middle managers. At the same time, the entire personnel management system must undergo a radical transformation to ensure greater transparency and straightforwardness of processes, including transparency in payments and evaluation of employees work.

Equally important, despite market fluctuations in demand, it is necessary to ensure more stable production processes. Because, at this stage, fluctuations in profits value can have an indirect impact on employee retention, which leads to increased costs for training new employees. Changes in finance may be related to changes in personnel processes management described above. In particular, the system of payments and rewards could be revised, providing better opportunities and autonomy for the craft production of chocolate for sale in small local markets (Dhamija et al., 2021). The work of employees, subject to dynamic leadership from middle managers, can give good results.

The manager-to-employee ratio may be established 1 to 10 rather than 1 to 80, as the current practice creates overload for HR managers and at the same time significantly reduces employee motivation, career opportunities, and potential personal contribution to the production process. In other words, the company is sticking with an older HR model to keep up with market demands. However, revisiting this model and looking for new strategic opportunities to implement it from a socio-economic and marketing perspective can be beneficial.

These are general comments on the case scenario presented above. In general, organizational change in leadership is required, including new management practices to improve employee retention. Reconsidering social and economic roles on the local and national levels is necessary. These changes will lead to an improved strategical marketing position of Prime Chocolate. The participation of the company in the socio-economic processes and the declared attention to this area is a positive attribute since such attention is a solid prerequisite for improving the strategic marketing position and expanding market share.

References

Aldossari, K. M., Lines, B. C., Smithwick, J. B., Hurtado, K. C., & Sullivan, K. T. (2020). Best practices of organizational change for adopting alternative project delivery methods in the AEC industry. Engineering, Construction, and Architectural Management.

Dhamija, P., Chiarini, A., & Shapla, S. (2021). Technology and leadership styles: a review of trends between 2003 and 2021. The TQM Journal.

Uber was founded as far back as 2010, but it has already managed to gain massive popularity among users only five years later. This is because it was the first app that could compete with other passenger transport services. In addition, the ability to flexibly customize the journey, the convenient design of the app on your phone, and its conciseness were able to win the hearts of many potential customers. However, Uber still exists today, and a lot has changed since 2015 (Moon, 2017). Looking at the pictures of the app of that time, it can be seen that not much has changed, the same buttons and overview. For example, many competitors have entered the market, offering both lower prices and better travel conditions. Since then, the company has focused on a stability strategy. Although one of the most efficient and has not outlived its potential, the world is changing, and the company must move with it. However, Uber has found a way to adapt to the passenger transport market and is still one of the best services around the world.

Despite its success, the company still has much to strive for, and new corporate strategies should help. If you look at Uber as a firm that has to offer its services worldwide, youll notice that the company doesnt exist in every country. This is a significant flaw, and there is a need to expand its reach around the world. In addition, one needs to think about the convenience of existing customers. For example, the design of their application needs to be updated, and the functionality needs to be expanded. Adding new features will allow you to retain your existing customers and attract new customers for your services. By improving its external policy and developing the full potential of its app, the company can expect to strengthen its position in the passenger transport market.

Reference

Moon, Y. (2017). Uber: Changing the Way the World Moves. Harvard Business School.