Key Concepts of Final Simulation - Essay Example

Final Simulation Diane Shears Jodi Bouvin Busn310B002 Technology is about the different way we use our tools, the use of our skills, knowledge and tools to increase our productivity. Technology is the way of the future in our homes or in our Businesses. Technology can be simple or intensive, it depends on the economic environment, and as a product need to have a long life cycle, with the realization that everything gets old and will be replaced like computers. Once upon a time, entrepreneurs might have taken a chance with technology and it turned out to be almost impossible. This means many years of experimenting with technology. People are creative and are not scared to fail people take risks because we dont know what the future will bring if we dont apply, the world is waiting for creativity that is futuristic. The original design for a camera is something, which goes back to the early 19th century, and as a visit to any Science Museum will, show involved all sorts of ingenious solutions. The dominant design gradually emerged with an architecture, which we would recognise shutter and lens arrangement, focusing principles, backplate for film, or plates, etc. But this design was then modified still further for example, with different lenses, motorized drives, flash technology and, in the case of George Eastmans work, to creating a simple and relatively idiot-proof model camera (the Box Brownie) which opened up photography to a mass market. Innovation does not stop at the dominant design but it moves from being big steps and radical experimentation to focusing more on improvement and refinement. As the future and technology life cycle grows, technology also has to grow and evolve to keep up with the times and our needs. Production The European Commission adopted Recommendation 2003/361/EC on 6th May 2003, to take effect from 1st January 2005 (published in OJ L 124 of 20.5.2003, p.36). Greetings class The company of my choice is Walmart, Wal-mart operates in the retail industry, Wal-mart is the largest retailer in the world, two brothers Sam started Wal-mart and bud Walton in AR in 1962 Wal-Mart operates internationally in fourteen foreign countries but the domestic environment for Wal-mart is the USA. The fortune 500 list of best companies ranks Wal-mart at the top of the list. Wal-mart operates in the retail industry, this includes Sam’s membership warehouse. if you can name it Walmart sells it, grocery, electronics, shampoo to hardware. Wal Marts competition is target, k mart and it new biggest competitor is amazon.com (Malouf, 2010). But with over two million workers and 10,130 stores Wal-mart is still the largest retailer. According to Andrea Thomas, senior-VP sustainability for Walmart says Wal-Mart has been leading the industry on many issues. Wal-mart listens to the community and feels if they all work together things can be solved. With billions of dollars at business at stake for its biggest customers, Walmart wields a bigger stick than any fines a government can impose. Walmart is a new breed of private-sector regulators. Although there are some political government regulations some call it political bashing big cities like Manhattan in New York oppose Wal-mart coming there Wal-Mart. Their plan to open a unions and politicians has done everything in their power to stop Wal-mart and they have for now. Technological: Walmart has surpassed its competition in its technology to increase the companys progress and efficiency. Walmart understood the marketplace and what was needed to grow the company they strategically invested in technology, designed their own satellite network to secure their privacy. Walmart distributions centers cut out the middleman and managed most of its own logistics by warehouses and distributing the products themselves. Walmart handles over a million loads per year and with more centers opening up every years it will grow to a couple of million a year. Wal-mart s is a force in the retail industry it’s concept of save money, live better is why they keep their prices down in logistics we have to make production and if we ship more product efficiently in less amount of time and that saves money for all of us. However, there is always someone to complain and they probably have every right to because it depends on each individual circumstance. My question is if it were another retailer would they have the same problems or complaints? Looking at Wal-mart globally, Wal-mart stores are moving forward globally specifically beijing china Wal-mart is not pulling any stops Wal-mart will concentrate on exceeding customer satisfaction and exceeding the required standards. Modern innovation and communicating with partners and creating strong relationships with the government, the suppliers, customers, china officials and NGO. Wal-mart will continue to have unmatched success. The Chinese government wants to make sure Wal-mart understands their boundaries within the government and their industry partnership. Wal-mart understands the barriers with china not fully trusting Wal-mart with the negative press that circulates our world, because of this barrier Wal-mart had to sign the first advance pricing agreement (APA) with the State Administration of Taxation (SAT) in China and the US Internal Revenue Service (IRS). Wal-mart is addressing all concerns by promising china to be transparent, and having a meeting with all suppliers and strategically planning for all the businesses that want to do business with Wal-mart as a whole to be on the same page. Wal-mart is aware of the downward fall if the company do not move forward in a social responsibility Wal-mart knows to treat people the way they want to be treated. Wal-mart understands they can’t cheat their worker and expect success it is imperative for Wal-mart to take care of the environment and be conscious of the chemical and waste poured into the air and water, Walmart knows to be successful they have to be upfront in all aspects of the business world and honor its legal agreements. Definition of technology is external factors in technology that impact business operations, changes in technology affect how a company do business, a business may have to dramatically change their operating strategy as a result of changes in the technological environment. When a company operates in a domestic environment its very different than running a business in the united states, the laws are different, special agreements have to be made, this no easy deal. Both have the same goal to make profits but how you have to handle the two is different. Product Technology In a domestic environment for products this involves the company finding the most cost-effective suppliers they can find. Domestic producers by law need to follow the state rules. Like making sure, they pay minimum wage, safety and osha rules and different required audits, to maintain safety, when you are in the domestic environment you buy from the state. Global environment, for example can find cheaper labor markets. Foreign countries like China and India can get expensive products from Asia and import these products from South American countries. Global businesses have a significant savings from other global markets. Process Technology A domestic process focuses on knowing what product would be good in which demographics and how to appeal to their tastes and preferences. For example, Wal-mart tries to cater to all ages and all needs so Wal-mart focus on the lowest prices for very good products. A global process technology incorporates many of the same plans, but it needs to change the products to meet the new culture. Globally Wal-mart advertises differently because you have to advertise in their language. Global management technology include managers knowing the regulations of foreign countries. Each nation has different standards on taxation, politics and its currency. a domestic business operates within the parameters of its country, global business strategies have some flexibility with the regulations of foreign countries (Smith, et al, 2005). This week I found some interesting points about my company of choice Wal-mart, Wal-mart is the largest retail store in the world and when you are so big there are many organizations who want to control your growth and box you up, but when you get big enough your resources are unlimited, Wal-mart fights aggressively and Wal-mart is very strategic with their tactics, and they don’t make many friends when they are in the battlefield. many other companies want the government to make sure Wal-mart abide by the regulations and if they dont it would drive Walmart away or keep them spending money in onerous regulations. The barriers I noticed about Wal-mart is in its healthcare, doing research many people don’t like Wal-mart health care. Back in June 2005 different senators wanted Wal-mart to spend at least 8 percent of Wal marts payroll on health care or contribute to the states Medicare budget because they believe Wal-mart a lot of Wal-mart employees have Medicaid especially for their children. I can agree with that because Wal-mart does not believe in wasting money, let me elaborate, Walmart encourage you if you don’t go to the doctor often then take the plan with the most deductible and less deductions out of you pay , i opposed it because i liked the home plan pay your 20 dollar co pay and be done with it even though i looked at the money i spent for the year, thank god my children went to the doctor three times this year, so a lot of money was spent on health care that i didnt use., I’m sure most people is thinking about what if something major happens, you rather have that safety net. but Wal-mart intends to continue to fight against these legislation and the unions in the state capitals. Wal-mart feels this a political tactic it’s opponents. to hold them down. One of the limitations I see is Wal-mart being under fire publicly so much, if Wal-mart could limit the public media battles and gain more public trust that would be great, but it’s hard when you’re the largest retailer, the business world is a battlefield, the big companies don’t play fair they play to stay on top and to stay on top you have to fight to win and that’s what Wal-mart do. Wal-mart operates in the retail industry, Wal-mart is the largest retailer in the world, Wal-mart was started by two brothers Sam and bud Walton in AR in 1962 Wal-Mart operates domestically in the united states and internationally in fourteen foreign countries Wal-mart operates in the retail industry, this includes Sam’s membership warehouse. Wal-Mart strategy for success are the joint ventures domestically by joining forces with strong local vendors and internationally Wal-mart has joint ventures with strong local supermarket operators, asda trusted banners keep valued local connections. In the United Kingdom Wal-mart will include 193 smaller stores. In Mexico Walmart has 55% of the total sales, Aurrera is the primary joint venture through the modern trade chann-el. In India Wal-mart has a 50-50 joint venture with Bharti and is under the best price modem banner. In China joint venture with Wal-mart is through Trust Mart. Wal-mart sociocultural factors that will hinder Wal-mart are the need for cultural adaption for example china market carry the same food but Wal-mart prices are higher because of all the regulations wal-mart has to go through to get the product into china. Over all Wal-mart has been very successful I would rate them 99% domestically and 85% internationally. Wal-mart, which is the largest retailer in the world domestically located in the United States has had some challenges fitting into the urban community, because the urban community grocery stores are considerably smaller this takes a toll on these smaller stores (Wal-Mart, 2010). When Wal-Mart moves into a new area, Wal-mart has a negative effect on existing retailers, supermarkets and discount variety stores take the worst hit and their sales decline quickly, these stores can feel the effect immediately. Wal-mart who is the largest retailer in the world, globally operates in fourteen foreign countries these countries are Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Germany, Guatemala, Honduras, Japan ,México, Nicaragua, South Korea, Puerto Rico and the United Kingdom Wal-mart has all the ingredients for success according to Rostow stages of economic growth you need increased transportation which wal-mart has its own fleet of trucks and had partnered with other transportation companies to ensure the products gets to the stores . Agricultural development using local farmers and expansion of imports using their stronghold power to get the best prices. Galbraith framework for success include Adequate security , which wal-mart has their own asset protection inside the distribution system, reliable infrastructure , wal-mart build to last, state supported industries by doing so much community services in different states they operate in, supply and capital Wal-mart has enough money and power to get the best deals, training and specialized education, Wal-mart supports ongoing training for their associates domestically and globally. Wal-mart has limited limitations because they give the customers what they want, they are limited in some areas of growth like New York city they have been fighting to get there for years and the retailers are fighting Wal-mart all the way . when you are the largest retailer in the world the limitations are far and few in between. References Wal-Mart. (2010). “Corporate Facts: Wal-Mart by the Numbers.” Retrieved from: http://WalMartstores.com/download/2230.pdf , on March 26, 2010. Malouf, D. (2010). “Will Wal-Mart be Urban? Part 1: Brightwood.” Greater Washington. Hull, C., & Covin, J. G. (2010). “Learning Capability, Technological Parity, and Innovation Mode Use.” Journal Of Product Innovation Management, 27(1), 97-114. Retrieved from: doi:10.1111/j.1540-5885.2009.00702.x, on March 26, 2010. Smith, C., et al. (2005). “Health Spending Growth Slows in 2003.” Health Affairs 24:1, 185-194 Chuck Bartels, (2005). Wal-Mart Opponents’ Campaign Uses Maryland Legislature As Model. ”Associated Press. NEFF, J. (2011). “The real Walmart effect? Retailer is de facto regulator of market.” Advertising Age, 82(10), 1-30. Lowenstein, R. (2007). “Wal-Mart, The Do-Gooder.” Smart Money. pp. 42-43. Wal-Mart Pushes Eco-Goals to Front of China Agenda. (2008). Home Textiles Today, 29(28), Wal-Mart clinches first US-China APA. (2007). International Tax Review, 18(2), 3. Read More