StudentShare solutions
Triangle menu

Impact & Strategy - Essay Example

Not dowloaded yet

Extract of sample
Impact & Strategy

The nature of industrial markets, like the power tool one, consisting as they do of a small number of large customers or potential customers, makes industrial market surveys much simpler and less expensive than similar surveys of potential markets for nationally distributed consumer staples. Because judgment plays such an important role in forecasting, there is an obvious advantage in checking one's own estimate against the estimates of other forecasters (Makridakis, 1998).
Another industry is a home repairs and improvement industry. In this sphere, it is difficult to forecast customer demand in sufficient detail and with sufficient accuracy for the purposes of planning more than a few months in advance. A special attention should be given to new building materials and repair-improvement processes which create a demand for new products and innovative solutions (Schwolsky, 2004).
Raw materials and suppliers relations also affect the power tool industry and influence product cost and price level. Changes in steel industry and chemical industry affect price level and can influence production facilities of the power tool industry. ...
The main factors in statistics and forecasting are internal and external factors. They include field of research (narrow or broad), the seasonal fluctuations of demand and sales, direct and indirect competition, population changes and consumer earning. Internal changes are product changes (innovations), production capability of competitors, raw materials price changes, credit policy changes and labor relations (Brockwell, Davis 2003).
Statistics for the power tool industry show that rank shifts based on net income involved about one-half of the possible uncertainty, and that shifts based on operating revenue are somewhat more uncertain than those based on assets. Where industry statistics are available, many corporations keep records of the pertinent industry statistics and of their own sales in each such industry. The industry history can be projected to obtain a forecast of total industry sales. One advantage inherent in the use of industry statistics is that many different forecasters are attempting to forecast the same aggregate figure. Other companies interested in the same industry are making forecasts of the same aggregate; these forecasts will be compared and a consensus will usually be reached. The major use of industry statistics, however, is to compare currently released industry sales with the corporation's own sales for the same period in order to determine (Makridakis, 1998).

Total sales of an industry can be forecast by using a known correlation or relationship of such sales with National Disposable Income and the forecast of Disposable Income. On the industry side the national statistics published by the Department of Commerce provide a wealth of information for forecasting in the field of consumer ...Show more

Summary

In the period of globalization, a company and industry are influenced by a number of internal and external factors. Tangentially-related industries have an impact on the power tool industry, its sales and profitability. Multidimensional analysis based on statistical results and forecasting factors will help Able Corporation to forecast future sales and plan production facilities.
Author : waelchilane
Impact & Strategy essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Impact & Strategy"
with a personal 20% discount.
Grab the best paper

Related Essays

Consumer behaviour: What is the impact of the new strategy on the brand
It would be helpful if we define the term brand. The American Marketing Association defines ‘brand’ as “a name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers. A brand may identify one item, a family of items, or all items of that seller.”
10 pages (2500 words) Essay
MN6005 Strategy: Choices and Impact
However, the success of the relevant initiatives can be influenced by a series of factors, which are differentiated in firms within different industries. At Faslane, a naval base in UK, the introduction of changes in regard to a variety of processes has been unavoidable.
8 pages (2000 words) Essay
The impact of competitive strategy on culture and organizational behavior
The non-existence of positive organizational behavior in a business’s workforce can result in poor production. Any organization will have a corporate culture that is based on the collective beliefs and values of its staff. For the company to be successful in realizing its objectives, it has to encourage the adoption of positive organizational behaviors that support its corporate mission as well as values.
9 pages (2250 words) Essay
Exploring the impact of retail promotion strategy on customer behaviour
The study investigates whether customer behaviour is changing in this industry, especially in light of the lack of customer loyalty in terms of where customers source their products. This has also become even more of an issue with the advent of internet shopping, as customers can now go online and order goods from a variety of sources without leaving their homes.
10 pages (2500 words) Essay
The impact of Corporate governance and on Corporate strategy
Corporate governance is simply a term used for the way that companies (corporate) are run and operated (governed). As stated by Colley et al. (2004) there have
8 pages (2000 words) Essay
Strategy : choice and impact
Chang is initiated in the course of time for survival and growth of a firm. It is found that most of the organizations undergo some kind of change during their operations. Radical
10 pages (2500 words) Essay
The GreenHealth-Cranberry case study: Strategy, Choices and Impact
Both these firms are based in UK but their profits are mostly generated through foreign markets, such as the US market for GreenHealth and the European market, for Cranberry. Current paper
10 pages (2500 words) Essay
Discuss the impact of marketing strategy on profits in two businesses of your choice
The marketing strategy of an organisation depends on how the company understands the needs of its customers. In this case, a company identifies the customers it wants to serve through segmentation and targeting, and then determines how it will serve the
3 pages (750 words) Essay
Strategy: Choice and Impact
Complexity theory is the core of what and how systems are today. Complexity theory has many applications in modern life because the world systems are all dynamic and complex. The systems
1 pages (250 words) Essay
IT GOVERNANCE WITH RISK MANAGEMENT IMPACT ON THE GOVERNMENT SECTOR BUSINESS STRATEGY
h governance responsibility in the creation and preservation of wealth of all stakeholders, on the other hand, have defined corporate governance, as the ethical corporate practices and behavior while as Lam (2014) states that corporate governance is a system by which companies
10 pages (2500 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation