...Competition Market……………………………………………..5 1.1. Perfect Competition Market Characteristics ……..………………….5 1.2. Perfect Competition Supply and Demand…………………………...9 CHAPTER II Perfect Competition Short-Run Supply………………………………..13 2.1. Short-Run Production Alternatives of a Competitive Firm………... .13 2.2. Short-Run Equilibrium and Supply Curve ………………………… 23 CHAPTER III Perfect Competition Long-Run Supply………………………………29 3.1. Long-Run Equilibrium Conditions…………………………………..29 3.2. Long-Run Industry Supply Curve…………………………………...33 3.3. Perfect Competition Market Efficiency……………………………...36 CHAPTER IV Practical analysis……………………………………………………..41 CONCLUSIONS……………………………………………………………………...45 LITERATURE………………………………………………………………………...47 APPENDIX…………………………………………………………………………...49 INTRODUCTION The issue of supply in the perfect competition conditions is a rather complex topic. It comprises of many crucial points that I will try to identify and explain. Some of them will be caused by the perfect competitive conditions’ regulations of the general processes of the supply formation, profit maximization, equilibrium achieving and others, dictated by the characteristics of the perfect competition itself, such as a large number of small firms, identical products sold by all firms, perfect resource mobility or the freedom of entry into and exit out of the industry...
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...After scanning Sicily’s external business environment I came to the conclusion that it would be extremely challenging to have the manufacturing operations in this particular Italian region. I have conducted a PEST analysis to help you understand why it would be unwise and/or hard to achieve a successful market entry strategy in Sicily. I looked at the political, economical, social and technological factors and came across that the biggest obstacles to operate in Sicily are the current political and economical climate, whereas social factors would cause only mild difficulties and technological factors wouldn’t cause any difficulties. PEST analysis: POLITICAL FACTORS ==> Regional government – definitely one of the biggest challenges of doing business in Italy is the lack of clarity, efficiency and transparency of the government, which is most evident in Sicily ==> Slow court systems - difficult to enforce contracts ==> High income taxes (43%) and corporate taxes (27.5%) ==> Bureaucracy - high level of bureaucracy ==> Organized crime - Mafia infiltrates various business sectors. The extortion of money by mafia from businesses is common since it is a primary income for the mafia, aside from drugs and government contracts. ==> Corruption – the corruption has been an impediment for the economic growth for a long time. Its evident in government, investment sectors, banks, etc. ECONOMICAL FACTORS ==> Lack of transparency – many businesses are suffering from the...
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...European Conference on Research Methodology for Business and Management Studies Using PEST Analysis as a Tool for Refining and Focusing Contexts for Information Systems Research Guo Chao Alex Peng, Miguel Baptista Nunes Department of Information Studies, University of Sheffield, Regent Court, Sheffield, S1 4DP, UK lip05gcp@sheffield.ac.uk, j.m.nunes@sheffield.ac.uk Abstract It is common for inexperienced researchers and research students to aim at investigating very wide contexts such as countries (e.g. China, India, UK), regions (e.g. the Arab Countries) or even continents (e.g. Africa). Such studies in Information Systems (IS) are not only unrealistic and potentially unfeasible, but may result in findings that are neither significant nor meaningful. Research supervisors often face difficulties in explaining and resolving these common pitfalls in research proposals. This paper proposes the use of Political, Economic, Social and Technological (PEST, also often referred to as STEP) analysis as a tool to identify narrower contexts and focus research questions around feasible and meaningful regional contexts. It illustrates this process with the results of an analysis carried out as part of an ongoing PhD research project. The project aims to investigate the barriers and risks associated with the post-implementation of Enterprise Resource Planning (ERP) systems in Chinese companies. PEST analysis was used to define an appropriate region in China (i.e. Guangdong), as well as the type...
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...PESTEL ANALYSIS PEST analysis stands for "Political, Economic, Social, and Technological analysis" and describes a framework of macro-environmental factors used in the environmental scanning component of strategic management. It is a part of the external analysis when conducting a strategic analysis or doing market research, and gives an overview of the different macro environmental factors that the company has to take into consideration POLITICAL FORCES: Italy has a parliamentary system, like many other European countries. But as usual, Italy has a remarkable complex political environment. There are more than 20 parties. As a result, no party has chance of gaining power alone. So, every single government depends on a sophisticated arrangement of coalitions. During last April it was elected the new Italian government. It is the 62nd government since 1946. Thus the country had an average of one new government per year. No chance! It is impossible to set-up and pursuit long terms goals within this ever changing context. Another dangerous element is again present in Italian politics: right-wing populism. you can blame immigrants for every single Italian problem. Economy : Italy has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, welfare-dependent, agricultural south, with high unemployment. The Italian economy is driven in large part by the manufacture of high-quality consumer goods...
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...FORTIS INC. AND CHLILLO DAM Introduction Fortis is the organization aimed at delivering the earnings towards their shareholders whereas continuing the quality services to the customers at a reasonable prices. They had the strategy of positive growth and disciplined strategy of acquisition for shareholder’s wealth increase. PEST Analysis PEST analysis is the political, economic, social and technologuical system that must be analysed in this study. This study is based upon the project of Fortis that was based upon the electricity and power generation through dam construction in the Belize country. Following points are summarizing the key issues and current situations at the time of dam construction in Fortis and Belize. Political Analysis Belize is the country that has democratic state and sovereign status of the country with a government working on the parliamentary principles. Parliament principles are based upon the west minister parliamentary system. Country has the membership in the British commonwealth of nations after its independence. Belize electricity limited has the operations in strong relation to the economy and government (Ansar, Flyvbjerg, Budzier, & Lunn, 2014). They have more than 53,000 customer’s serves and able to meet up the highest demands of the country including 44 megawatts from the diesel fired generation, Mollejon hydro plant and energy purchase from commission de electricidad. BEL has enhanced the corporate image in the various modes. Electricity...
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...Opportunities and Challenges Facing FIAT to Enter Ukraine Opportunities and Challenges Facing FIAT to Enter Ukraine Report Team: NO.10 Italy Class period: Tuesday 8, 9 Team Member Zhou Wen Duan Jiaqi Han qingxiu English Name Cookie Todd May Student Number 41006044 41032003 41029021 Contact Information 289192701@qq.com 917686559@qq.com 304593546@qq.com 1 Opportunities and Challenges Facing FIAT to Enter Ukraine Executive summary The report is going to analysis the opportunities and challenges facing FIAT to enter Ukraine automobile market. We first identify the strength and weakness of global strategy of Fiat with the SWOT analysis (Appendix 1) to find out entering Ukraine could contribute to Fiat’s global strategy, and then we evaluate the investment potential in Ukraine with PEST analysis (Appendix 2) to find out that Ukraine government is encouraging foreign investment by incentive policy and regulation, moreover, the automobile market in Ukraine is large. However, under the condition of financial crisis, the trade protectionism is on the rise in Ukraine, making the existing competition fiercer than before. To solve the problem, we suggest Fiat to export light vehicle and manufacture installation kit by joint venture to minimize risk and mitigate challenges. Besides, the board should pay attention to balancing the relationship among local government, local employees and management layer. 2 Opportunities and Challenges Facing FIAT to Enter Ukraine Content...
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...1.0 Introduction Strategic Management is the decision making by management level through its process; it consists of strategic analysis, strategy formulation and strategy implementation. Alfred Chandler suggest strategy as an organisation to determine the basic-long term goals and objectives, adopt the course of action and allocate resources in attaining the goals (Chandler, 1962; Henry, 2011). However, Porter’s defined it as a plan for the organisation to sustain in the industry. Porter argue that strategy is a tool to measure the success or failure of the organisation, a strategy will able to help the organisation to be competitive in its industry and lead to sustainable financial performance (Porter, 1991; Ritson et al, 2013). Apart from that, Mintzberg’s concept of strategy is Plan, Ploy, Pattern, Position and Perspective (Mintzberg et al, 1998; Anon, 2009). It is important for the organisation to manage its strategy to be flexible and responsive toward the environmental changes. Audi AG is a German luxury automobile manufacturer with its subsidiaries, Lamborghini, a supercar producer and Ducati, a motorcycle brand. Audi AG is major owned by Volkswagen, a German automobile manufacturer which controls 99.55% of the share capital (Audi, 2009). Audi always undergoes continuous refining of its strategy to ensure the strategies are always up-to-date to fulfill the organisation mission and vision. Today, Audi is one of the major players of luxury auto makers in German, along...
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...Copenhagen Business School Cand. Merc. M. Sc. IBS - International Business Department of International economics and management, 15 June 2012 Strategic Analysis of the Geox Group Councellor: Bersant Hobdari, Copenhagen Business School Student name: Valeria Serra N. of pages: 79.7 Total n. of characters: 181,415 N. of characters (without figures): 165,415 N. of figures: 20 Executive Summary The purpose of this thesis is evaluating the sources of the extraordinary success of the Italian company Geox S.p.A. in order to assess whether its triumph is sustainable or not in the future. Geox S.p.A. is an Italian company based in Montebelluna (Treviso, Italy). It produces high quality and innovative shoes and apparels, and it is considered one of the most successful Italian firms. The company was born thanks to an innovative idea of its founder, Mr. Mario Moretti Polegato, and its fast growth has been due not only to the knowledge of the district, but also to its strong management and its strategies. All these factors have contributed to Geox’s fast growth in a market that was already mature. Notwithstanding Geox’s leadership position in Italy, the company is not immune from the negative effects of the economic and financial crisis and of globalization. The main challenges that the company is facing are mainly constituted by increasing and labour and raw material costs. The crisis, which has been particularly strong in Italy, has made people poorer. Thus, consumers have became...
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...INTRODUCTION 2 2.1 Picard overview 4 2.2 Picard´s corporate strategy 5 2.3 SWOT analysis 6 3. PEST ANALYSIS 6 4. PORTER´S FIVE FORCES Analysis of entering the UK Market 7 5. CONCLUSION 11 6. BIBLIOGRAPHY 12 7. APPENDICES 13 1. EXECUTIVE SUMMARY The aim of this report is to analyse Picard´s market performance as well as challenges in its operating market using the PEST analysis tool, in order to identify if the company has prospects of entering and succeeding in the UK based on Porter´s five forces model. Picard is a French frozen food retailer focusing exclusively on its own brand product lines. The company has grown to be France´s leading frozen food specialist capturing 20% market share with a network of over 800 stores, and it is also the largest specialised network of frozen food in Italy. Picard also offers a leading home delivery service from internet and telephone orders, including in other countries such as Spain, Luxemburg and Belgium. The retailer´s overall strategy is characterised as a premium proposition with a vision of convenience, quality and innovation, firmly positioning itself on the high end of the market. Picard currently aims to continue opening approximately 50 new stores per year given its successful and consistent performance, allowing the company to potentially expand further overseas. Using the PEST analysis tool it was identified that Picard´s major challenges in its operating market are the increased competition...
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...CONTENTS PAGE 1. EXECUTIVE SUMMARY 2 2. INTRODUCTION 2 2.1 Picard overview 4 2.2 Picard´s corporate strategy 5 2.3 SWOT analysis 6 3. PEST ANALYSIS 6 4. PORTER´S FIVE FORCES Analysis of entering the UK Market 7 5. CONCLUSION 11 6. BIBLIOGRAPHY 12 7. APPENDICES 13 1. EXECUTIVE SUMMARY The aim of this report is to analyse Picard´s market performance as well as challenges in its operating market using the PEST analysis tool, in order to identify if the company has prospects of entering and succeeding in the UK based on Porter´s five forces model. Picard is a French frozen food retailer focusing exclusively on its own brand product lines. The company has grown to be France´s leading frozen food specialist capturing 20% market share with a network of over 800 stores, and it is also the largest specialised network of frozen food in Italy. Picard also offers a leading home delivery service from internet and telephone orders, including in other countries such as Spain, Luxemburg and Belgium. The retailer´s overall strategy is characterised as a premium proposition with a vision of convenience, quality and innovation, firmly positioning itself on the high end of the market. Picard currently aims to continue opening approximately 50 new stores per year given its successful and consistent performance, allowing the company to potentially expand further overseas. Using the PEST analysis tool it was identified that Picard´s major challenges in its operating market are the increased competition with...
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...of oregano concentrations and a chemical pesticide to the houseflies. Oregano (pronounced /ɒrɪˈgɑːnoʊ/ (UK), /əˈrɛgənoʊ/ (US), also Origanum vulgare) was a specie of Origanum of the mint family that was native to Europe, the Mediterranean region and southern and central Asia. The oregano has many uses aside from being an alternative pesticide. Oregano was a perennial herb, growing from 20-80 cm tall, with opposite leaves 1-4 cm long. The flowers were purple, 3-4 mm long, produced in erect spikes. Oregano was an important culinary herb. It was particularly widely used in Turkish, Greek, Spanish and in Italian cuisine. It was the leaves that were used in cooking, and the dried herb was often more flavorful than fresh. Oregano was often used in tomato sauces, fried vegetables, and grilled meat. Together with basil, it contributes much to the distinctive character of many Italian dishes. Oregano has a...
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...in-house technologies and those developed in collaboration with numerous Italian and foreign universities in order to develop a vertically integrated agro pharmaceutical product line. Today Aboca capacity can cultivates more than 1700 acres. The farming processes are guaranteed to be organic, seed selection, planting, fertilization, and pest control, harvesting and cleaning. Aboca is the only brand that can achieve the optimum level of active principles (an herbal component that induces the therapeutic effect) in its products whereas over 20 chemists arein charged in its manufacturing and quality control laboratories. By having its own marketing design department and direct sales force, there attractive product packaging, in-store displays and advertising props make Aboca a favored supplier to pharmacies and herbal shops. Now Aboca is the supplier for over 7000 retailers in Italy. Moreover, Aboca maintains its quality leadership with an investment of 10% of its revenue into research and development. Such investment has led tomany inventions in new product lines and manufacturing processes of the brand. Today, like 30 years ago, the focus of Aboca is still on researching and innovation in order to develop products those can able to make use of the properties of complex natural matrices, or respond to health care needs of both homeostatic and pathological, fulfilled with respect for people and the environment, while creating awareness of the present and future advantages of such...
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...Name : KHATRI DIXITA VISHALKUMAR (Student ID No. : 0909BHC214) CLACC – ‘C’ (PGD) Unit Title : Strategic Marketing Management Course Study Report On Marketing strategy for Pagoda resturant BLAKE HALL COLLEGE | | | | (Front sheet for PGD- (B-Tech-Level-7) [Sept-Dec.-2010] assessment in Business) Front Cover sheet BTEC – Level -7, Advanced Professional Diploma in Management Studies Unit Tile: Strategic Marketing Management – unit 17 (Submitted to –Mr. Sumesh S Dadwal) LEARNER’S BRIEF ------------------------------------------------- Learner’s Name: DIXITA VISHALKUMAR KHATRI ------------------------------------------------- ID :- 0909BHC214…………………………………………….. ------------------------------------------------- Class (Course)……PGDBM…………………………………….. ------------------------------------------------- Section ………C…………………………………. ------------------------------------------------- Unit title…Strategic Marketing Management ------------------------------------------------- Date assessment details issued…27th sep 2010…………….. ------------------------------------------------- Date handed in …8th December 2010……………………………. ------------------------------------------------- Words Count: …2901……………………………. ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ...
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...The ‘first in – first out’ (FIFO) principle must be used at all times. Daily checks must be made for the food that is perishable. 3.3 Evaluate the importance of personal hygiene in the control of food contamination In the work environment, every employee should be aware of food risk at work and follow hygienic working practices, especially personal hygiene. Under The Food Safety (General Food Hygiene) Regulations 1995, the worker and those who handle the food are not permitted to wash their hands in a food preparation sink. The Food Safety Act 1990 is another act relating to the sale of food for people utilization It is a crime to make food which would injure health, or sell food that would harm your health, be unfit or so contaminated that it would be unreasonable to use it for human consumption (Legislation.gov.uk, n.d.) Also, there is a requirement to report illness that may present a hazard to food safety and to exclude people from food handling duties if they can cause...
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...January 2011 Carrefour strategy is comprised of following components • Organic, Sustainable and Profitable growth • Fast return on capital employed • Market Leadership through • Acquisition Carrefour started business in 1963 by introducing the idea of hyper market by providing thousands of products under one roof. Soon after the success of hyper market Carrefour started targeting the customers with discounted stores. Carrefour is now world Europe largest and world second largest. Carrefour Major Merger and Acquisitions • 1998 acquisition of Comptoirs Modernes • 2000 merger with Promodes • 2000 partnership with Maus group to enter to Switzerland • 2001 acquisition of Notre largest retailer in Belgium • 2003 acquisition of Italian retailer Hyparlo which increased its stake in Colombia from 55 to 100 • 2003 joint venture with Norwegian company Norges Gruppen • 2003 acquisition of Ahold in Poland • 2004 sold 1.2 billion $ assets for growth • 2005 acquisition in Taiwan, Turkey, Cyprus and France • 2005 sold $264.1 million assets to Tesco in Czech Republic and Slovakia • 2006 acquisition of 5th largest retailer in Spain • 2006 selling of South Korea operations to E-Land • 2007 acquisition in Romania • 2010 100% acquisition of Turkish company • 2010 alliance with India’s future Group • 2010 acquisition of 51% of Hebei Baolongcang Chinese operator Source: Data Monitor 26 July 2010 The company started its business in France and adopted the organic growth...
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