Business Organisation Assignment Example | Topics and Well Written Essays - 3000 words

Business Organisation - Assignment Example Currently, it is making a strong presence in the United States and other parts of Europe (Ted Baker Plc 2006). Its 2006 annual report states that the company has 102 retail outlets comprised of 19 UK stores, 7 overseas stores, 68 concessions, and 8 outlet stores. Since its inception, Ted Baker Plc has already imbued itself with the commitment of quality designer clothes. The company's core competence is threefold comprising design, product quality, and attention to detail. The company is known to have "for applying quirky twists to their products" (Ted Baker Plc Annual Report 2006). Thus, Ted Baker has become the "official outfitter" (Hoovers 2006) for trendy individuals. Instead of trying to capture the mass market, the company opts to win the purchasing power of the high-end market who wants quality and top of the line clothing. It is irrefutable that business organisations like Ted Baker Plc need to cope with the challenges posed by the changes and developments happening in their external environments. This report will look at how the impact of the evolution of a single global village in the operations and strategic directions. Each recommendation will be supported by analyses utilising management tools and techniques. In order to recommend strategic direction that Ted Baker Plc should t... These tools are designed to reveal the internal factors which affect the performance and well being of the firm. Recognizing that environmental forces are also important, environmental scanning will also be conducted. The conceptual frameworks to be used are Porter's generic strategies, Porter's five forces model, and SWO analysis. 2.1. Porter's Generic Strategies According to Porter, companies can stick to three best strategies-cost leadership, market segmentation, and differentiation. Generic strategies are highly commended because they identify a certain area that a company can focus instead of trying to be "everything." These definite winning strategies help business organizations to market scope and their competency (Thomson 2004). In its website, Ted Baker Plc states its threefold strategy as: "considered expansion of Ted Baker collections; controlled distribution through main channels-retail wholesale, and licensing; and carefully managed development of overseas markets" (Ted Baker Plc 2006). As stated above, these strategies are supported by the manufacturer's main competences which are design, product quality, and attention to detail. Through these factors, Ted Baker Plc is able to establish an image of quality and trend which sets it apart from its other competitors. Even though clothing is very much like a homogenous good, the business organisation is able to define itself and create an image in the mind of consumers. In line with Porter's generic strategies, it is apparent that the company is banking on a differentiation strategy for success. Ted Baker offers not just any other ordinary clothing company. Standardstyle states that the company's products are

Life of John D. Rockefeller and his legacy Term Paper

Life of John D. Rockefeller and his legacy - Term Paper Example One may criticize John D. Rockefeller for many things, like being one of the first to have started a monopoly or oligopoly businesses, yet when his services or assistance to communities and nations are taken into accounted, one can also say that his legacy of sustained philanthropy is probably unmatched for longevity and volume of assistance of assistance rendered. Yet not only is his own life is criticized for his role in history but the role of his descendants. John D. Rockefeller’s Standard Oil John D. Rockefeller Sr. , former school dropout and who became perhaps the richest person during his time, is the Rockefeller patriarch or the seed that produced other Rockefellers of great significance and who have equally created their own legacy by sustaining the legacy of John D. Rockefeller Sr. (PBS, 2000). The other Rockefellers who have contributed their important legacies or who have sustained the John D. Rockefeller Sr. Legacy are John D. Rockefeller, Jr. (1874-1960), son of John D. Rockefeller, Sr., and the Rockefeller brothers John III (1906-78), Nelson (1908-1979), Laurance (1910-2004), Winthrop (1912-1973), and David Rockefeller (1915-?), sons of John D. Rockefeller, Jr.The patriarch was â€Å"twenty-three years old and already a success in his profitable commission business when he decided to risk $4,000 in a speculative oil refinery operation in Cleveland† (Armentano, 1981, p. 58). This was probably in 1862. When John D. Rockefeller began his business, both the Petroleum industry and the Standard Oil Company were â€Å"inchoate† (Montague, 1904, p. 4). ... 4). However, according to Armentano (1981, p. 58), â€Å"the firm quickly prospered under the technical direction of Samuel Andrews, and a second refinery was constructed in 1866.† In a short while, â€Å"Maurice Clark, one of the original partners in the firm, was bought out (for $72,500), and Rockefeller brought in his brother William for entrepreneurial know-how and his shrewd and wealthy friend, Henry Flagler, for additional capital† (Armentano, 1981, p. 58). It was only in 1868, however, that John D. Rockefeller deployed his â€Å"complete and undivided attention† to the petroleum business (Armentano, 1981, p. 58). Armentano (1981, p 58) asserted that â€Å"the firm of Rockefeller, Andrews, and Flagler prospered quickly in the intensely competitive industry by the economic excellence of its entire operations.† The firm implemented a business that is relatively unique in the industry during the period. Armentano (1981, p. 58) revealed that â€Å"inste ad of buying oil from jobbers, they made the jobbers’ profit by sending their own purchasing men into the oil region.† Further, â€Å"they made their own sulfuric acid, their own barrels, their own lumber, their own wagons, and their own glue† (Armentano, 1981, p. 58). Armentano documented that that firm â€Å"kept minute and accurate records of ever item from rivets to barrel bungs† (1981, p. 58). In short, what Armentano has tried to narrate is that the firm organized by John D. Rockefeller Sr. implemented vertical integration as well as good management practices. Breakup of Standard Oil and Development Larson (1969) explained that from 1882 to 1950, the Standard Oil Company founded by John D. Rockefeller had been keen on vertical integration. Luck and shrewdness mattered but the oil firm