...When McDonald opened in 1955, they served only two meals; lunch & dinner. Since then, people have gotten busier and longer which are more night shift, dual earners and dispersed family. As demographics and eating habits changed, McDonald tries to understand and identify groups of buyers who differ in needs and wants. They also see at the opportunity and has had reinvent itself to keep growing. In order to develop a marketing strategy, McDonald understands of the target customer. McDonald needs to identify which market segments it can serve effectively. This decision requires a keen understanding of consumer behavior and careful strategic thinking. They really understand to develop the best marketing plans which is manager understand what makes each segment unique and different. McDonald successfully identifies and profile distinct groups of buyers who differ in their needs & preferences. Better they know, easily they can communicate and market to customer. Nowadays, McDonald has variety of meal; breakfast, lunch & dinner. Segment marketing means a market segment consists of a group of a customer who share a similar set of needs and wants. The marketer does not create the segments, but try to identify the segments and decide which one to target. Our group has identified some bases which is McDonald try to form segments by looking at descriptive characteristic. There are demographic, psychographic and behavioral. 1. DEMOGRAPHIC SEGMENTATION. In demographic...
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...Designing a Balanced Scorecard for a pharmaceutical company Chadwick, Inc.: The Balanced Scorecard (Abridged)14 Company Background Chadwick, Inc., was a diversified producer of personal consumer products and pharmaceuticals. The Norwalk Division of Chadwick developed, manufactured, and sold ethical drugs for human and animal use. It was one of five or six sizable companies competing in these markets and, while it did not dominate the industry, the company was considered well managed and was respected for the high quality of its products. Norwalk did not compete by supplying a full range of products. It specialized in several niches and attempted to leverage its product line by continually searching for new applications for existing compounds. Norwalk sold its products through several key distributors who supplied local markets, such as retail stores, hospitals and health service organizations, and veterinary practices. Norwalk depended on its excellent relations with the distributors who served to promote Norwalk’s products to end users and also received feedback from the end users about new products desired by their customers. Chadwick knew that its long-term success depended on how much money distributors could make by promoting and selling Norwalk’s products. If the profit from selling Norwalk products was high, then these products were promoted heavily by the distributors and Norwalk received extensive communication back about future customer needs. Norwalk had historically...
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...CHADWICK, Inc. : THE BALANCED SCORECARD Latar Belakang Perusahaan Chadwick, Inc. Perusahaan yang bervariasi dalam produk konsumen produk dan farmasi. Divisi Norwalk yang merupakan pengembangan dari Chadwick, memproduksi dan menjual obat legal untuk digunakan oleh manusia dan hewan. Chadwick merupakan salah satu dari lima atau enam perusahaan yang cukup besar dalam pasar dan belum mendominasi industri. Produk yang dihasilkan oleh perusahaan dinilai cukup baik dan diakui kualitasnya. Norwalk tidak menyediakan seluruh kebutuhan pokok untuk bersaing,t api lebih mengkhususkan pada pasar mikro dan berusaha untuk terus mencari aplikasi baru untuk senyawa yang ada. Norwalk menjual produknya ke beberapa distribusi kunci yang merupakan supplier pasar lokal seperti toko eceran, organisasi pelayanan kesehatan dan rumah sakit dan praktek dokter hewan. Norwalk bergantung pada hubungan baik dengan distributor yang mempromosikan produknya pada konsumen dan juga menerima umpan balik dari konsumen tentang produk baru yang diinginkan oleh konsumen. Chadwick mengetahui jika kesuksesan jangka panjang tergantung pada banyaknya uang yang dihasilkan oleh distributor melalui promosi dan penjualan produk Norwalk. Jika keuntungan penjualan meningkat berarti produk tersebut dipromosikan secara besar-besaran oleh distributor dan Norwalk mendapatkan banyak informasi tentang kebutuhan pelanggan di masa depan. Di masa lalu, Norwalk mengalami kesuksesan yang diketahui dari penelusuran catatan penjualan...
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...Sistem Pengendalian Manajemen Kasus Chadwick, Inc. Disusun oleh: Kelompok 5 1. Canna (4) 2. Carolina Diany Nugroho (5) 3. Lusiana Claudia (21) 4. Noval Hidayatullah (30) PROGRAM PENDIDIKAN AKUNTANSI BCA A. LATAR BELAKANG MASALAH Chadwick, Inc. Perusahaan yang bervariasi dalam produk konsumen produk dan farmasi. Divisi Norwalk yang merupakan pengembangan dari Chadwick, memproduksi dan menjual obat legal untuk digunakan oleh manusia dan hewan. Chadwick merupakan salah satu dari lima atau enam perusahaan yang cukup besar dalam pasar dan belum mendominasi industri. Produk yang dihasilkan oleh perusahaan dinilai cukup baik dan diakui kualitasnya. Norwalk tidak menyediakan seluruh kebutuhan pokok untuk bersaing, tapi lebih mengkhususkan pada pasar mikro dan berusaha untuk terus mencari aplikasi baru untuk senyawa yang ada. Norwalk menjual produknya ke beberapa distribusi kunci yang merupakan supplier pasar lokal seperti toko eceran, organisasi pelayanan kesehatan dan rumah sakit dan praktek dokter hewan. Norwalk bergantung pada hubungan baik dengan distributor yang mempromosikan produknya pada konsumen dan juga menerima umpan balik dari konsumen tentang produk baru yang diinginkan oleh konsumen. Chadwick mengetahui jika kesuksesan jangka panjang tergantung pada banyaknya uang yang dihasilkan oleh distributor melalui promosi dan penjualan produk Norwalk. Jika keuntungan penjualan meningkat berarti produk tersebut dipromosikan secara besar-besaran oleh...
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...Division managers at Chadwick had complained to the Controller about the continual pressure to meet short-term financial objectives. As a producer of consumer products and pharmaceuticals, divisions at Chadwick engaged in long-term projects with uncertain payoffs. Managers did not believe that using a single target, return on capital employed, linked current actions and efforts to longer term value creation. The corporate controller has recently learned about the Balanced Scorecard. He presented the concept to the president and chief operating officer who then issued a call to all Chadwick division managers to develop a scorecard for their divisions. The divisional controller at the Norwalk division was given the task of heading the effort to formulate scorecard measures for the division. Pedagogical Objectives A discussion of the Balanced Scorecard concept can focus on three objectives. First, the discussion should address questions about why financial measures are insufficient when they are used alone. Second, the discussion should question and review the concept of the Balanced Scorecard and its dimensions Third, students should practice exploring linkages between goals and measures on scorecard dimensions so that they can see how performance on one dimension supports or encourages achievement on others. [For part (a), see the “Suggestions for Classroom Use” section. Also see textbook questions 9-1, 9-2, 9-3, 9-4, 9-5, and 9-11, and exercises 9-31, 9-33, and...
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...• 1. Provide a systematic, well-researched description of the critical success factors of Norwalk. Where is the strength of this company and what are the key risks? In other words, what would be the scarce attention of the management of Norwalk should focus mainly on? 2. Rate the Balanced Scorecard (BSC) Norwalk (Exhibit 2). To what extent does that with the analysis of assignment 1? What changes / additions are needed to the Balanced Scorecard makes sense to deploy management control within the division Norwalk? Ensure good argumentation, in which attention is paid to the balance between short and long term and to the balance between the different performance perspectives. 3. Norwalk developed by the Balanced Scorecard is designed primarily as a reporting tool for Chadwick. To what extent does the card as shown in Exhibit 2 for this specific purpose? In light of this purpose the explicit restriction to hard, objective data a good idea? Again, pay attention to the motivation of the answer. Reply belonging to question 1 In order to answer this question, we must first understand the business strategy of Norwalk. We must determine the keys to the business strategy or the “Critical Success Factors.” Critical success factors are dependent on which strategy is implemented. For Norwalk, the following critical success factors should be Included: • Relationships and Current Networks: The salesmen are trained to sell new products alongside the existing product lines...
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...PPA 28 SISTEM PENGENDALIAN MANAJEMEN Case 20 : Chadwick, Inc : The Balanced Scorecard Prepared by : Anita Preicilia (5) Christine (10) Epi Gustriadi (16) Fredericka Fionna (20) Latar belakang masalah Case 20 : Chadwick, Inc : The Balanced Scorecard Latar belakang perusahaan Chadwick inc adalah produser yang mendeversifikasikan produk-produk konsumsi pribadi dan obat-obatan. Divisi Norwalk dari Chadwick mengembangkan, memproduksi, dan menjual obat-obatan untuk manusia dan binatang. Itu adalah satu dari enam persaingan perusahaan didalam pasar, tapi tidak mendominasi industrinya, perusahaan dianggap memiliki pengaturan yang baik dan memperhatikan kualitas produk yang tinggi. Norwalk tidak bersaing dengan supply produknya yang luas. Norwalk menjual produknya melalui beberapa distributor inti yang mensupplai pasar local, seperti toko retail, rumah sakit dan organisasi kesehatan, dan prakter dokter hewan. Norwalk bergantung pada hubungan yang baik dengan distributor yang melayani untuk mempromosikan produk Norwalk ke pengguna akhir dan juga menerima umpan balik dari pengguna akhir tentang produk baru yang digunakan oleh konsumen akhir. Chadwick mengetahui bahwa kesuksesan jangka panjangnya tergantung pada berapa banyak uang yang distributor hasilkan karna promosi dan menjual produk Norwalk. Jika laba dari menjual produk Norwalk sangat tinggi, kemudian produk ini dipromosikan secara besar-besaran oleh distributor dan Norwalk menerima respon balik secara ektensif...
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...easier adjustments to be made in the future. The Balanced Scorecard integrates a business’s strategy with a limited number of metrics which in turn avoids information overload and lays out a chain and effect relationship. 3. Develop the Balanced Scorecard for the Norwalk Pharmaceutical Division of Chadwick, Inc. CHADWICK, INC. Strategic Objectives Performance Measures Initiatives Financial • Increase Revenue • Lower Costs • Increase Shareholder Value • Revenue • Operating Costs • Increase Shareholder Value • Leverage Product Lines • Optimize Product Applications Customer • Increase Market Share • Satisfy Customer Needs • Market Share • Customer Satisfaction Survey • Rewards Programs • Customer Loyalty Internal Process • Improve Marketing • Reduce Time & Product Costs 1. How does the Balanced Scorecard approach differ from other approaches to performance measurement? The Balanced Scorecard is different from other financial performance tools because it provides a map of a business’s strategic objectives in terms of performance metrics in four different perspectives looking forward. The Balanced Scorecard maps the business’s strategic goals in terms of financial, internal processes, customers, and learning and growth. Other performance measures provide information from past performance and are not suited for helping implement future strategic plans or predicting future performance. The Balanced Scorecard approach also factors in intangible assets such...
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...Table of Contents 1) Background of Chadwick Inc. case.........pg 1 2) Major Issue...........................................pg 1-2 3) SWOT analysis.......................................pg 2-3 4) Critical Success Factors..........................pg 3 5) Problem Identification...........................pg 4 6) Recommendation..................................pg 4-5 Background of Case 6: CHADWICK, INC.: THE BALANCED SCORECARD (ABRIDGED) Chadwick. Inc was a diversified producer of personal consumer products and pharmaceuticals. The Norwalk Division of Chadwick developed, manufactured and sold ethical drugs. The company was respected for the high quality of its products. Norwalk sold its products through several key distributors who supplied local markets. Norwalk relied on its excellent relations with the distributors who promote Norwalk’s products to customers and also received their feedbacks about new products desired. Chadwick’s long-term success depended on how much money distributors could make by promoting and selling Norwalk’s products. But, recent inroads by generic manufacturers had been eroding distributors’ sales and profit margins. With regards to its Research and Development, The development of ethical drugs was a lengthy, costly, and unpredictable process. The development and testing processes had many stages, starting with the discovery of compound, extensive and tedious testing, and documentation. Norwalk’s profitability during the 1980s was sustained...
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...Chapter 2 |The Balanced Scorecard and Strategy Map |[pic] | QUESTIONS 2-1 Financial performance measures, such as operating income and return on investment, indicate whether the company’s strategy and its implementation are increasing shareholder value. However, financial measures tend to be lagging indicators of the strategy. Firms monitor nonfinancial measures to understand whether they are building or destroying their capabilities—with customers, processes, employees, and systems—for future growth and profitability. Key nonfinancial measures are leading indicators of financial performance, in the sense that improvements in these indicators should lead to better financial performance in the future, while decreases in the nonfinancial indicators (such as customer satisfaction and loyalty, process quality, and employee motivation) generally predict decreased future financial performance. 2-2 A Balanced Scorecard is a systematic approach to performance measurement that translates an organization’s strategy into clear objectives, measures, and targets. The Balanced Scorecard integrates an appropriate mix of short- and long-term financial and non-financial performance measures used across the organization, based on the organization’s strategy. 2-3 The four measurement perspectives in the Balanced Scorecard are (1) financial, (2) customer, (3) process, and (4) learning and...
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...Journal of Management 1999, Vol. 25, No. 3, 385– 415 Human Resources Management: Some New Directions Gerald R. Ferris University of Mississippi Wayne A. Hochwarter University of Alabama M. Ronald Buckley University of Oklahoma Gloria Harrell-Cook Mississippi State University Dwight D. Frink University of Mississippi The theory, research, and practice of Human Resource Management (HRM) has evolved considerably over the past century, and experienced a major transformation in form and function primarily within the past two decades. Driven by a number of significant internal and external environmental forces, HRM has progressed from a largely maintenance function, with little if any bottom line impact, to what many scholars and practitioners today regard as the source of sustained competitive advantage for organizations operating in a global economy. In this 25th anniversary Yearly Review issue, we conduct a less comprehensive and more focused review of the field of HRM. In doing so, we attempt to articulate some key concepts and issues that can be productively integrated with HRM to provide some interesting and important directions for future work, and consider ways to bridge the gap between the science and practice of HRM. © 1999 Elsevier Science Inc. All rights reserved. This 1999 Yearly Review marks the 25th anniversary of the Journal of Management, and indeed, over this quarter century, the organizational sciences have witnessed an evolution...
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...The current issue and full text archive of this journal is available at www.emeraldinsight.com/2040-8005.htm JCHRM 3,1 Managing diversity in Chinese and Indian organizations: a qualitative study Fang Lee Cooke Department of Management, Monash University, Melbourne, Australia, and 16 Debi S. Saini Management Development Institute, Gurgaon, India Abstract Purpose – This paper aims to investigate diversity management (DM) practices in China and India by analyzing formal DM policy (if one exists) adopted by the company and informal DM practices adopted by managers. It also aims to discuss the appropriateness of the US-originated notion of, and approach to, managing diversity in the Indian and Chinese contexts by exploring how local managers make sense of diversity and manage it in a pragmatic way. Design/methodology/approach – The authors adopted a qualitative approach. In particular, through a semi-structured interview design, qualitative data were collected from 16 Chinese and Indian middle and senior managers and four human resources (HR) director of regional headquarters of foreign multinational firms. The data were supplemented by secondary data from a wide range of sources, including government reports and media coverage to extend contextual understanding. Findings – The paper reveals that most Chinese organizations do not see DM as an issue. Where exists, its focus is on conflict avoidance rather than value-addition to the business. In contrast, managing diversity...
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...THESIS FOR THE DEGREE OF DOCTOR OF PHILOSOPHY Six Sigma Management Action research with some contributions to theories and methods PETER CRONEMYR Division of Quality Sciences Department of Technology Management and Economics CHALMERS UNIVERSITY OF TECHNOLOGY Göteborg, Sweden (2007) They wanted me to be respected as A doctor or a lawyer man But I had other plans Gonna be a rock ‘n’ roll singer Gonna be a rock ‘n’ roll star AC/DC - Rock ‘n’ Roll Singer Young/Young/Scott 1975 No matter what Quality will keep on rockin’ The Rock Stars of Quality Debbie Phillips-Donaldson, editor Quality Progress, July 2005 Six Sigma Management Action research with some contributions to theories and methods Peter Cronemyr Copyright © Peter Cronemyr (2007) ISBN 978-91-7385-021-6 Doktorsavhandlingar vid Chalmers tekniska högskola Ny serie nr 2702 ISSN: 0346-718X Published and distributed by: Division of Quality Sciences CHALMERS UNIVERSITY OF TECHNOLOGY S-412 96 Göteborg, Sweden Telephone: +46 (0)31 772 10 00 Printed at: Chalmers Reproservice Göteborg, Sweden Thesis Shortcuts Six Sigma A short introduction Go directly to Chapter 3.1 on page 47 Action Research Methodology Go directly to Chapter 2.2 on page 28 The Author Background and motives Go directly to Chapter 1.2 on page 15 Siemens Industrial Turbomachinery AB The Case Company Go directly to Appendix A, Chapter 2.1 on page A-3 The Conclusions of the Thesis Go directly to Chapter 5 on page 89 ...
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...Customer Relationship Management VSF This book is dedicated to my children Emma and Lewis of whom I am enormously proud. Customer Relationship Management Concepts and Technologies Second edition Francis Buttle AMSTERDAM • BOSTON • HEIDELBERG • LONDON • NEW YORK • OXFORD PARIS • SAN DIEGO • SAN FRANCISCO • SINGAPORE • SYDNEY • TOKYO Butterworth-Heinemann is an imprint of Elsevier Butterworth-Heinemann is an imprint of Elsevier Linacre House, Jordan Hill, Oxford OX2 8DP 30 Corporate Drive, Suite 400, Burlington, MA 01803, USA First edition 2009 Copyright © 2009, Francis Buttle Published by Elsevier Ltd. All rights reserved. The right of Francis Buttle to be identified as the author of this work has been asserted in accordance with the Copyright, Designs and Patents Act 1988 No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means electronic, mechanical, photocopying, recording or otherwise without the prior written permission of the publisher. Permissions may be sought directly from Elsevier’s Science & Technology Rights Department in Oxford, UK: phone ( 44) (0) 1865 843830; fax: ( 44) (0) 1865 853333; email: permissions@elsevier.com. Alternatively you can submit your request online by visiting the Elsevier web site at http://elsevier.com/locate/ permissions, and selecting Obtaining permission to use Elsevier material. Notice No responsibility is assumed by the publisher for any injury and/or damage...
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...SIXTH EDITION STRATEGIC MANAGEMENT IN ACTION Mary Coulter Missouri State University Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montréal Toronto Delhi Mexico City São Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo Editor in Chief: Stephanie Wall Senior Acquisitions Editor: April Cole Editorial Project Manager: Claudia Fernandes Director of Marketing: Maggie Moylan Senior Marketing Manager: Nikki Ayana Jones Marketing Assistant: Gianna Sandri Senior Managing Editor: Judy Leale Production Project Manager: Kelly Warsak Senior Operations Supervisor: Arnold Vila Operations Specialist: Cathleen Petersen Creative Director: Blair Brown Senior Art Director: Kenny Beck Text Designer: LCI Design Cover Designer: LCI Design Cover Art: Svetoslav Iliev/Shutterstock.com Permission Specialist: Brooks Hill-Whilton Media Project Manager, Production: Lisa Rinaldi Senior Media Project Manager, Editorial: Denise Vaughn Full-Service Project Management and Composition: Integra Printer/Binder: RRD/Willard Cover Printer: Lehigh-Phoenix Color Text Font: 10/12, Times LT Std Credits and acknowledgments borrowed from other sources and reproduced, with permission, in this textbook appear on appropriate page within text. Copyright © 2013, 2010, 2008 Pearson Education, Inc., publishing as Prentice Hall, One Lake Street, Upper Saddle River, New Jersey 07458. All rights...
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