Define an SLA and state why it is required in a risk adverse organization Essay

Issues over the Presidency essays

Issues over the Presidency expositions While I was perusing the issues, there was two that truly hit home with me that the two presidential competitors discussed. The principal issue that they discussed was Drugs. President Bush accepts that we should be increasingly forceful in showing drug training, giving treatment and implementation of laws. Presidential applicant John Kerry conceded he has smoked cannabis and accepts that we should focus on the dealers just as decreasing the requirement for it at home. Kerry casted a ballot no for subsidizing drug control and for higher medication punishments. The subsequent issue discussed by the competitors was instruction. President Bush Says we nee to advance ourselves toward accomplishing greatness for each youngster to succeed. He says we should increase the expectations and spotlight on the outcomes for our schools. As a byproduct of the elevated expectations and results from the understudies endeavors will come opportunity and adaptability. He likewise says he will subsidize early mediation projects to help high-schoolers in their instructive needs. John Kerry then again says we have to put are cash into the kid not the jail framework. He nails President Bush with saying he didn't completely support the No Child Left Behind Act. He Says we have to move back tax breaks for the rich so they can subsidize the instructive needs. He asserts we should quantify adapting however with an adaptable norm. He additionally asserts that giving understudy credits to school kids is a moral issue. ... <!

Sault Sainte Marie

Sault Sainte Marie Sault Sainte Marie, city (1990 pop. 14,689), seat of Chippewa co., N Mich., Upper Peninsula, a port of entry on the St. Marys River opposite Sault Ste Marie, Ont.; inc. as a city 1887. A variety of light manufactured goods are produced, but the city's economy is principally based on tourism and lake shipping. The famous Soo locks on the St. Marys River draw visitors who watch heavily laden ships pass through the intricate system that links lakes Superior and Huron. Particularly impressive is the 21-ft (6.4-m) lift to the level of Lake Superior. The region was first explored (1615) by Etienne Brulé , and Father Jacques Marquette established a Jesuit mission there in 1668. French occupation ended in 1763. The British remained in control until 1783, when the area was ceded to the United States. Fort Brady was built in 1822. The discovery of great mineral deposits in the northwest stimulated the construction (1853â€"55) of the Sault Ste Marie Canal to facilitate the flow of ore; the locks have since been enlarged. An international bridge connects Sault Ste Marie with its Canadian counterpart. Lake Superior State Univ. in the city occupies the historic site of Fort Brady. The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved. See more Encyclopedia articles on: U.S. Political Geography

Google Analytics An Objective For Any On Line Business...

Google Analytics: - Analytics software is crucial for any on-line business; it helps you perceive ways in which to succeed in your audience and drive traffic to your website. Google Analytics is one among the best ways to try this and is particularly useful for the everlastingly busy small business owner or the on-the-go bloggers. Google Analytics permits you to access each general statistics and trivia in careful, comprehensive reports. And in fact, it includes all the essential specifics, like what percentage visitors you are obtaining, and allows you to refine your data according to date. Business owners who haven t nonetheless transitioned to on-line advertising and selling have to be compelled to do thus as a result of they re missing out plenty of potential sales and to expand their business. It s time that these businesses just apprehend the advantages of Google Analytics to assist grow their small business (How Your Small Business Can Benefit from Using Google Analytics, 2016). 1) Tracking SEO campaigns Google Analytics assist’s businesses keep track of search engine optimization (SEO) campaigns for you. Once you need to draw in new customers to your on-line business, you would like to use Google Analytics to maximize your results. There are tools you ll use to assist you to establish how well your SEO campaign can run. 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Critical Analysis of Corruption - 1237 Words

Running Header: CRITICAL ANALYSIS OF CORRUPTION Critical Analysis of Corruption Ricky A Price, Col U.S.A.F. (Ret) Kaplan University Online CJ340-02: Applied Criminal Justice Ethics Professor Kevin Stoehr 17 July 2012 Introduction Corruption is the use of entrusted authority for private gain. Corruption has two sides, the receiver and the giver. According to Myint (2000), both parties to corruption engage in the practice to gain from it and, therefore, both should be accounted for the practice. Corruption is vital barrier to the development of a country. The World Bank has identified it as the main stumbling block to developing countries to their development endeavors. The societal ill is most outspoken in the public†¦show more content†¦No society has corruption generic to each member of the society. Corruption in a society is classified into three categories; it may be rare, widespread or systemic. 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The Impact of Online Shopping on Consumer Behavior Free Essays

string(86) " the price and trust is considered as important factors that influence the consumers\." University of Bedfordshire-Ajman Campus BA (Hons) Project Submitted to Dr. Tariq As a Requirement Unit code: Marketing Research (Morning Class) ________________________________ Student Name:| Registration Number:| Amanullah Ashraf| 1033872| Acknowledgement First I would like to Thank Allah for giving me knowledge. I am very Thankful to our subject teacher Dr. We will write a custom essay sample on The Impact of Online Shopping on Consumer Behavior or any similar topic only for you Order Now Tariq for guiding and helping me in this Research. I gratefully thank my parents, Friends and all classmates who cooperated with me in the time when I needed them. Also I would like to thank all the Respondents who gave their time in filling the Questionnaire. Abstract The purpose of this dissertation is to identify what are the factors that influence the consumer behavior while they are shopping online. Because now a day’s online shopping is increasing day by day . We collected both primary and secondary Data. The survey was conducted in Alain Mall through questionnaire and all the factors that can influence consumer behavior or change consumer behavior because of online shopping where given in the questionnaire. So we found that the the online shopping has a big impact on consumer behavior in many different ways. Table of contentsPage No. 1. Introduction 1. 1 Company Profile1 1. 2 Statement of the problem1 1. 3 Objectives of the study1 1. 4 Scope limitations of the study2 1. 5 Significance of the study2 1. 6 Define the terms3 2. Review of Related Literature 2. 1 Theoretical Conceptual literature3 2. 2 Related Studies5 2. 3 Schematic Diagram6 2. 4 Synthesis7 3. Research Methodology 3. 1 Research design7 3. 2 Respondents of the study8 3. 3 Research Instrument8 3. 4 Validity of Research Instrument9 3. 5 Data gathering procedures9 3. 6 Statistical Analysis9 4. Presentation, Analysis and Interpretation of Data 5. Summary of findings, conclusions and Recommendations 6. 1 Summary of findings22 6. 2 Conclusions23 6. 3 Recommendations24 6. References25 List of Tables Graphs Fig 1. Gender10 Fig 2. Nationality11 Fig 3. since when you are shopping online12 Figs 4. What are the goods that you purchase online13 Fig 5. Online shopping saves my time14 Fig 6. making payments is easy through online shopping15 Fig 7. The delivery of the product is too long16 Fig 8. I cannot bargain online17 Fig 9. In online shopping we get more discounts and offers18 Fig 10. I believe that online shopping is better than physical stores19 Fig 11. I has access to famous brands through online shopping20 Fig 12. security is major concern in shopping online21 List of Appendices Appendices 126 Appendices 229 Appendices 333 1. Introduction 1. 1 Company Profile Souq. com is one of the largest online shopping Business in UAE which is safe and secure and it was established in 2005 and through souq. com millions of people buy or sell their products Daily and from the day when this online shopping Business came in to being it is improving and providing quality service to customers and souq. om is famous for its trusted platform. Now souq. com is one of the largest ecommerce site among the Arabs it includes the countries such as Egypt, Jordan and Saudi Arabia. 1. 2 Statement of the Problem The Impact of online shopping on consumer behavior in souq. com. In this research we need to understand what are the actual factors according to which the consumers do online shopp ing and how their shopping behavior is affected. 1. 3 Objectives of the study To study the consumers online shopping behavior. To know the factors that influence online consumers and shoppers. To study do onsumers prefer online shopping over Physical stores. 1. 4 Scope and limitations of the study The scope of the study is to understand that the Internet is the latest medium through which consumers demand for their needs and wants that’s why the online sellers should know what are the factors that influence the online consumers and also there are some factors according to which consumers buy their products online and it is very important for the online sellers to take that factors in to action so that they can satisfy the consumers needs and wants and enter in to the online market competition Easily. There are many factors that will influence the online consumers but we in this research will select only the main factors that will influence the consumers so therefore we will limit these factors to few so that we can understand its effect on online consumers and also we will limit the consumers characteristics’ and buying process by seeing how they are dealing with the service or product they bought but not by seeing the consumer theories or models. 1. 5 Significance of the study This research will not only increase the impact of online shopping on consumers but it will also help the people who are too busy to do shopping online in some minutes it will save their time and will also help the disabled people more over because if they are not able to walk or had other problem they will most probably prefer the online shopping and also this research will clearly show how the people has changed from physical stores to the online shopping. 1. Definitions of the terms Trusted Platform: This means that the customers have Trust on the souq. com organization. Physical Stores: The place where we go for shopping (to buy or sell something). Impact: The affect or change that one thing bring in another thing 2. Literature review 2. 1 Theoretical conceptual framework The theoretical and conceptual framework includes all the theories and concepts related to online shopping and its impact on consumer behavior. Warner defines consumer behavior as â€Å"the study of the mental and physical activities performed by individuals or groups that result in decisions or actions associated with the purchase, use or disposal of goods and services†. The internet is now famous for its distribution channel and e-commerce transaction and the price and trust is considered as important factors that influence the consumers. You read "The Impact of Online Shopping on Consumer Behavior" in category "Essay examples" According to study â€Å"Analysis of consumer behavior online† This study will tell the main characteristics of online consumers behavior and will test how they are found and the information of the product will be evaluated and compared and the new survey conducted will be compared with the old consumer theories in order to take positive actions in the field of technology and strategies and in this study the group focus will be on people aged from 19 to 30 interested in having related products. Dejan Petrovic,(2006) According to the study of shunYunjiee,(2006) said that there are some products which can be sold more in online shopping such as books, software’s, music etc. Because this are the products which people will buy without any personal research and all the features and the quality can be seen from its pictures and descriptions etc. According to the research study† Motivators and decisional influencers of online shopping† Online shopping is an innovation for the marketers and now a days it is very important for retailers the online shopping because they had found more values and benefits in it, this study is made in order to find what are the factors that encourage the consumers in online shopping. Bekramjit Rishi,(2010). According to the Kamali and Loker, (2002) the online shopping has increased their revenue more than their previous revenue so this means that online shopping has increased the level of consumer behavior because it is safer nd secure then the past. According to Pehr Luedtke , (2010)â€Å"The findings of the 2010 Social Shopping Survey validate what we are hearing from retailers and brands – that customer reviews have become a critical piece of the marketing puzzle, based not only on consumer demand but also on the sales they deliver,† According to Lauren freedman, (2010 ) â€Å"Whereas once online product research was left to the technology savvy looking to make a major purchase, it is now part of the mainstream shopping experience for all product categories as consumers have taken control powering their own product research,† 2. 2 Related studies Study 1 According to the â€Å"2010 social shopping study Reveals changes in consumer’s online shopping Habits and Usage of Customer Reviews† This study tells that how online shopping has increased from the past. This research focused on two important factors such as why consumers are shopping online and when consumers are doing online research for shopping and what are the expectation of the consumers and the Result was that the online research is essential to the consumer behavior while they are shopping online and it also revealed that the consumers who want to buy products like to do research personally. This study also stated that consumers prefer online research because of time saving, confidence and satisfied information and also the survey stated that the famous site where consumers do research online are search engine, brand sites, retailers sites, Amazon. com,facebook,Twitter etc. Study 2 According to the study† Impact of demographics on online buying behavior towards different products† In this study they researched that how consumers are investing their money on online shopping by keeping the factors such as igh class, Medium class and Low class in this study the marketers came to know about the demographics of people and this lead to an increase in the financial position of the online shopping business. A. M. Sakkthivel,(2009) 2. 3 Schematic Diagram Independent variable Dependent variable Online Shopping Consumer Behavior In this research the Dependent variable is consumer behavior and Independent variable is online shopping which means that the online shopping will have impact on the consumer behavior in many important ways. . 4 Synthesis From the related literature we came to know that due to the latest technology applied by retailers of online shopping and the service they provide in an efficient way and safe way and maintain a good relationship with consumers and promote the goods in the best way which attract consumers and also online shopping save the time of consumers and also conducting survey about the value of consumers. This all above factors will have an impact on the consumers Behavior towards online shopping. So if the souk. om recommends all the above factors in their online shopping business then they will surely attract consumers towards their online shopping business and this will surely increase their reputation in the online market and also their financial position will increase. 3. Research Methodology 3. 1 Research Design Research design is to search, find, collect and investigate the information that we need to obtai n for a related topic john Wiley sons, (2004). The research design in this research is descriptive research design. A escriptive research is the type of data analysis, information and questions that is done for a selected topic it mainly talks about â€Å"what is†. Robert G. petzold, (1998). 3. 2 Respondents of the study Here we will apply our factors of the topic to the kind of consumers who use internet online for shopping. There will be specific type of people selected. Sekaran Bougie, (2010). The following will be the methods of our sample. Our sample site: we will conduct the survey in Alain, UAE. Our sampling unit: Alain Mall sekaran Bougie, (2010). Our sample size: 30 respondents. 3. 3 Research Instrument We have selected one of the most flexible types of research and that is questionnaire which will be used in order to collect the primary data and also we will use interview guidelines if needed. The survey will be only done in Shopping Mall in order to know the impact of online shopping on consumer behavior. Using 5-point linkert scale we measure the independent and dependent variables and we will measure consumer behavior by 12 different types of questions which will be more effective. This type of scale was used by Andrew martin Stephen legg,(2002) 3. 4 Validity of Research Instrument The questionnaire is validated by three professors from the department of markrting research. 3. 5 Data collection procedures For the purpose of research we can collect data in two ways and they are primary data and secondary data Primary Data: we collected the data through observations and questionnaires and questionnaires is the most satisfactory way to collect data for our topic. We analyze our respondents and compare them with the factors. Lesley Barker,(2003). Secondary Data: This is mainly the general information about the research topic and here the data is in the form of journals such as written or non written, multiple source and surveys etc Anders haslinger et al(2007). 3. 6 Statistical Tool Analysis We will analyze the Data by Graph, Mean and standard deviation by using the frequency and percentage method. 4. Presentation, Analysis and Interpretation of Data 1. Gender Question| Frequency| Percentage| Male| 21| 70| Female| 9| 30| Total| 30| 100| Mean| Standard Deviation| 15| 8. 485281374| 2. Nationality Question| Frequency| Percentage| Asians| 24| 80| Arabs| 6| 20| Total| 30| 100| Mean| Standard Deviation| 15| 12. 72792206| 3. Since When you are Shopping Online Question| Frequency| Percentage| 1 month| 9| 30| 1-6 month| 0| 0| 6-12 month| 0| 0| 1 year| 8| 26. 6| 3 years| 13| 43. 3| 6 years or more| 0| 0| Total| 30| 100| Mean| Standard Deviation| 5| 2. 645751311| 4. What are the goods that you purchase online Question| Frequency| Percentage| Software’s| 3| 10| Tickets| 6| 20| Gifts| 0| 0| Books| 8| 26. 66667| Music| 3| 10| Electronics| 10| 33. 3333| Total| 30| 100| Mean| Standard Deviation| 5| 3. 082207001| 5. Online Shopping Saves my Time Question | Frequency| Percentage| Strongly Agree| 23| 76. 66667| Agree| 3| 10| Neutral| 4| 13. 3333| Disagree| 0| 0| Strongly Disagree| 0| 0| Total| 30| 100| Mean| Standard Deviation| 6| 11. 26942767| 6. Making payment is easy through online shopping Question | Frequency| Percentage| Strongly Agree| 18| 60| Agree| 7| 23. 3333| Neutral| 5| 16. 66667| Disagree| 0| 0| Strongly Disagree| 0| 0| Total| 30| 100| Mean| Standard Deviation| 6| 7| 7. The Delivery of the Product is too long. Question | Frequency| Percentage| Strongly Agree| 7| 23. 3333| Agree| 4| 13. 3333| Neutral| 10| 33. 3333| Disagree| 0| 0| Strongly Disagree| 9| 30| Total| 30| 100| Mean| Standard Deviation| 6| 2. 64571311| 8. I cannot Bargain online question| Frequency| Percentage| Strongly Agree| 4| 13. 3333| Agree| 0| 0| Neutral| 12| 40| Disagree| 0| 0| Strongly Disagree| 14| 46. 66667| Total| 30| 100| Mean| Standard Deviation| 6| 5. 291502622| 9. In online Shopping we get more discounts and offers Question | Frequency| Percentage| Strongly Agree| 18| 60| Agree| 7| 23. 3333| Neutral| 5| 16. 66667| Disagree| 0| 0| Strongly Disagree| 0| 0| Total| 30| 100| Mean| Standard Deviation| 6| 7| 10. I believe that online shopping is better than shopping at physical store Question | Frequency| Percentage| Strongly Agree| 20| 66. 66667| Agree| 7| 23. 333| Neutral| 3| 10| Disagree| 0| 0| Strongly Disagree| 0| 0| Total| 30| 100| Mean| Standard Deviation| 6| 8. 888194417| 11. I have Access to famous Brands through online shopping Question | Frequency| Percentage| Strongly Agree| 22| 73. 3333| Agree| 8| 26. 66667| Neutral| 0| 0| Disagree| 0| 0| Strongly Disagree| 0| 0| Total| 30| 100| Mean| Standard Deviation| 6| 9. 899 494937| 12. Security is major concern in shopping online Question | Frequency| Percentage| Strongly Agree| 13| 43. 3333| Agree| 7| 23. 3333| Neutral| 10| 33. 3333| Disagree| 0| 0| Strongly Disagree| 0| 0| Total| 30| 100| Mean| Standard Deviation| | 3| 5. Summary of Findings, Conclusions and Recommendations. 5. 1 Summary of Findings In the table of â€Å"gendre†we came to know that 70% of respondents where male and 30% respondents where female. In the table of â€Å"Nationality† we came to know that 80% of the respondents where Asians and 20% Arabs. In the table of â€Å"since when you are shopping online† we came to know that 43. 3% respondents where shopping online since 3 years and 30% since 1 month and 26. 6 since 1 year. In the table of â€Å"what are the goods you purchase online â€Å"we came to know that 33. 3 % respondents buy electronics in online shopping and 26. % Books and 20% Tickets and 10% software’s. In the table of â€Å"online shoppin g saves my time â€Å"we came to know that 76. 6% respondents strongly agree and 13. 3% Neutral and 10% agree. In the table of â€Å"Making payments is easy through online shopping â€Å"we came to know that 60% respondents strongly Agree and 23. 3% Agree and 16. 6 Neutral. In the table of â€Å"The Delivery of the product is too long â€Å"we came to know that 33. 3% respondents are Neutral and 30% strongly disagree and 23. 3% strongly Agree and 13. 3% agree. In the table of â€Å"I cannot bargain online† we came to know that 46. 6% respondents strongly disagree and 40% Neutral and 13. % strongly agree. In the table of â€Å"In online shopping we get more Discounts and offers† we came to know that 60% respondents Strongly Agree and 23. 3% Agree and 16. 6% Neutral. In the table of â€Å"I believe that online shopping is better than physical stores† we came to know that 66. 6% respondents Strongly Agree and 23. 3% Agree and 10% are Neutral. In the table of à ¢â‚¬Å"I have access to famous brands through online shopping† we came to know that 73. 3% respondents Strongly Agree and 26. 6 Agree. In the table of â€Å"Security is major concern in online shopping â€Å"we came to know that 43. 3% respondents Strongly Agree and 33. % Neutral and 23. 3% Agree. 5. 2 Conclusions After finishing the Research we came to know that more of the consumers are satisfied with online shopping in many different ways and also people will prefer the online shopping more and more in the near future but there was some limitations such as some of the respondents said that they don’t feel secure while shopping online and also some respondents where not satisfied with the delivery time. So now we should concentrate more on the Security and delivery to maintain and satisfy our consumers so that the online shopping will give 100% positive results. . 3 Recommendations As i said in the above paragraph that there are some respondents which are not feeling secure while shopping online and also the late Delivery of products. So I recommend that the souk. com should take certain steps such as when a consumer select and want to buy a product and make payments the souk. com should give the insurance of that product so that if the products is lost or does not reach the consumer he will be provided other same product and also the souk. com should fix best security programs so that no information of the consumers will be licked or Hacked. For the late Delivery of the products I recommend that the souk. com should concentrate more on Transportation and increase their transportation such as they should buy new cars, scooters and ships so that they can make the products available for consumers on time. References Warner. Malcolm, 2002, â€Å"International Encyclopaedia of Business Management†, Volume 2, page 1034. Petrovic Dejan, 2007 http://analogik. com/articles/227/analysis-of-consumer-behaviour-online Rishi Bekramjit, 2010, â€Å"Motivators and decisional influencers of online shopping†, International Journal of Business Innovation and Research 2010 – Vol. , No. 3   pp. 195 – 209 Loker and kamali, (2002) â€Å"E-Commerce Security Consumer Behavior† http://www. lotsofessays. com/viewpaper/1693412. html Sakkthivel. A. M,(2009), â€Å"Impact of demographics on online buying behavior towards different products†, International Journal of Electronic Finance 2009 – Vol. 3, No. 3   pp. 284 – 296 Freedman Lauren, 2010, â€Å"2010 Social Shopping Study Reveals Changes in Consumers’ Online Shopping Habits and Usage of Customer Reviews† http://www. e-tailing. com/content/? p=1193. Sons Wiley john(2004),†Asking Questions† http://books. google. ae/books? d=YXKbTx2j9i4Cq=Quantitative+researchers+have+openly+discussed+how+people+think+for+some+time#v=onepage Petzold G. Robert â€Å"Writing a Critical Review of Descriptive or Experimental Research†http://www. jstor. org/stable/40318228 Bougie roger sekaran uma (2010), â€Å"Research methods for business† http://www. oppapers. com/essays/What-Is-Scientific-Research-Process/660594. Stephen legg Andrew martin (2002), â€Å"Investigating the inward sounds of Outward Bound†http://findarticles. com/p/articles/mi_6931/is_2_6/ai_n28132634/? tag=content;col1 Barker Lesley (2003), http://www. ehow. om/about_4685513_primary-data_. html Haslinger Anders et al(200 7), PdF file Company profile (www. souq. com) Appendices 1 Questionnaire In this survey we are going to collect data on the impact of online shopping on consumer behavior and the information collected will be used for the Marketing Research Project and strictly the information collected will be kept confidential. Respondents no 1. Gender Male Female 2. Nationality 3. since when you are Shopping Online? 1 Month 1-6 Month 6-12 Month 1 Year 3 Years 6 Years or more . What are the goods that you purchase online? Software’s Tickets Gifts Books Music Electronics If Other Specify The following questions will be rated according to a 5 point scale such as 5 – Strongly Agree 4 – Agree 3 – Neutral 2 – Disagree 1 – Strongly Disagree | | Strongly Disagree| Disagree| Neutral| Agree| Strongly Agree| 5| Online Shopping saves my time. | | | | | | 6| Making payment is easy Through online shopping. | | | | | | 7| The Delivery of the product is too long. | | | | | | 8| I cannot How to cite The Impact of Online Shopping on Consumer Behavior, Essay examples

Nucor Corporation Case Analysis Essay Example

Nucor Corporation Case Analysis Essay To: Dan DiMicco From: McKensie Booth Subject: Strategic Management Date: 11/9/2010 Nucor Corporation Memo Response: Per your request I have analyzed Nucor Corporation and the steel industry. After performing both strategic and financial analysis I offer my recommendations. Executive Summary: Nucor Corporation was the most profitable steel producer in North America in both 2005 and 2006. It is regarded as a low-cost steel producer in the United States, and one of the most efficient and technologically innovative steel producers in the world. Nucor is known for its aggressive pursuit of innovation and technical excellence, rigorous quality systems, strong emphasis on employee relations and workforce productivity, cost conscious corporate culture, and ability to achieve low costs per ton produced (C-194). Offering a streamlined organizational structure, Nucor uses its ability to achieve incentive-based compensation systems that rewards goal-orientated individuals for their performance. Over the years Nucor has expanded progressively into the manufacturer of a wider and wider range of steel products, which has gotten it to be able to offer steel users one of the broadest product lineups in the industry. In this industry steel products are considered commodities, and most steel plants turn out products with comparable quality to other companies. This makes one producer’s reinforcing bar essentially the same as another producer’s reinforcing bar, which in turn makes a particular grade of sheet steel made at one plant almost identical to the same grade of sheet steel made from another plant (C-195). We will write a custom essay sample on Nucor Corporation Case Analysis specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Nucor Corporation Case Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Nucor Corporation Case Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Because of this, steel producers are forced to be price-competitive with the market price of each individual steel product being driven by demand-supply conditions for that product. After considering all of these aspects of Nucor, and the steel industry I will be discussing the strength of the competitive forces, the key success factors for this industry, and the pros and cons of Nucor’s competitive strategy. A SWOT analysis will further help me analyze the situation so then I can look at how attractive Nucor’s value chain is compared to the value chains of the other integrated steel mills. I’ll conclude with strategic issues I believe that Nucor’s management needs to address, and recommend the actions I think will be necessary to enhance Nucor’s position and future performance to compete effectively against low-cost foreign steel imports into the U. S. Competitive Analysis: 5 Forces Model Intensity of Rivalry among Competitors: Fierce Global competition in the steel industry faces Nucor and the wide range of competitors that make up the industry. Just in the domestic market alone there are more than twenty competitors that range on a larger to smaller scale. This intense competition amongst the competitors causes a recurring effect within the industry. Each competitor is trying to out bid the others for a contract, which allows for price wars among the market. This goes to prove that the industry is not based on differentiated products, but rather price competition. In the end, the company with the lowest fixed costs will survive and be the most profitable. Nucor’s use of both base pay and incentive pay makes it more guaranteed that output is relative to pay, which therefore decreases the fixed costs. The use of different business models is also a good indicator of the competition. Nucor uses a decentralized structure with control at the local factory level. This allows for focused decision making, and a more efficient use of profits. Threat of new entrants: Weak The entry into any industry depends directly on the associated costs. Because of globalization growing at a rapid pace, the merging of many competitors to form larger companies have made the barriers to entry increase. Economies of scale and capital requirements seem to be the greatest barriers in the steel industry. Larger quantity orders of raw materials are usually discounted. Higher production volumes directly discount the associated costs. Product differentiation is also a major barrier to entry. Steel is not sold on its overall difference, but more commonly on price. Many manufacturers utilize the same technologies and processes. Price wars are seen to minimize fixed costs, which mean there are few switching costs from one manufacturer to another. There is very little brand loyalty in this industry, especially when it does not appeal to consumer loyalty or brand image. Entrants must find ways to compete based on lower costs. Access to raw materials can also be a barrier. A lot of the time materials must be bought in large quantities. There is no cost advantage associated with small material purchases, and that can directly increase the overall manufacturing costs. This can make competition challenging in a market where margins are already very small. Government policy is not a huge threat of entry on the domestic level, but at the international level the barriers become much larger. Well established relationships by larger steel manufacturers with government allows for easy establishment of contracts in a foreign territory. Since most steel manufacturers must be globally competitive to maintain profits government policy is a threatening entry barrier. Bargaining Power of Suppliers: Strong The supply of raw materials can have a positive or negative effect on a cost strategy. Most of the steel used in domestic manufacturing in the United States is imported. On a larger scale there are relatively few suppliers who can meet the constant demands from a steel company. Because of this it is really common for joint ventures to be established between suppliers and manufacturers. This can help decrease the costs of supplies. The biggest threat is when large suppliers try and enter the market through the elimination of a third party manufacturer. Bargaining Power of Buyers: Strong Buyers seem to be the greatest threat. Price competition arises from buyers have low switching costs and low product differentiation. Due to these factors, buyers have the power to negotiate the deal down as far as they want. Many buyers purchase in large quantities which creates economies of scale. Ultimately, the goal for a buyer is to get the best product at the most efficient cost. The goal of a seller is to gain the most financial return for the least cost. Since the market is filled with many suppliers, and if you take into account the different goals of a buyer and a seller you would conclude that the steel industry is a buyers market. Threat of product substitutes: Weak There are few substitutes for the use of steel. The largest alternative to steel would be the use of another material. Alternatives increase market presence at times of economic downturn and times of increase in steel material cost. The goal is to maintain low costs and market share during times of economic fluctuation. Plastics or Wood could be two substitutes, but neither have the same durability that steel has. Assessment: Although it may not seem like the steel industry is an attractive market due to its maturity, and even though that may be true on a small scale, I think advances in globalization for the steel industry has made it become very attractive for those that are willing to compete on a much larger scale. Key Success Factors: †¢ Ability to achieve scale economies (important to achieving low production costs) †¢ High labor productivity/low-cost product design and engineering †¢ Breadth of product line and product selection †¢ National and global distribution capabilities †¢ Overall low costs (not just in manufacturing) Assessment: It’s vital for companies in the steel industry to achieve economies of scale so that they can have low production costs. The steel itself needs to be low cost, and the labor must be productive to produce at an efficient level. The breadth of your product line can put you above the other companies and help you stand out. The ability to compete at a global level is also very important when measuring success in this industry when it may be hard to differentiate your product from others. Nucor’s Competitive Strategy: Pros and Cons Starting in 2000, Nucor started on a four-part growth strategy that involved: new acquisitions, new plant construction, continued plant upgrades and cost reduction efforts, and joint ventures. Strategic Acquisitions: Pros: strengthen customer base, geographic coverage, and lineup of product offerings. Cons: economic downturns did not make the market conditions favorable. New Plant Construction: Pros: continue to be a technology leader allowing it to be first-to-market with new steelmaking technologies, and the process of Castrip which is one of Nucor’s recent success stories. Cons: Castrip was hard to make ready for commercialization taking many years for testing and processing refinement. Low-Cost Production: Pros: capital investments to improve plant efficiencies and keep production costs low. Cons: I don’t see any cons with this strategy. Global Growth via Joint Ventures: Pros: bigger growth globally that allowed it to counteract the global warming happening. Cons: does not currently have any plans to build and operate its own steel mills outside of the United States, other than its plant in Trinidad. Competitive Analysis: SWOT Strengths: †¢ Strong market position †¢ Increased production capacity †¢ Strong technological focus †¢ Positive Company Morale †¢ Low Cost Production Weaknesses: †¢ Geographical concentration †¢ Mature industry Opportunities: †¢ Joint ventures †¢ Acquisitions Threats: †¢ Repetitive nature of the industry Consolidation in the global steel industry †¢ Increasing raw material costs Assessment: I believe that Nucor Corporation has many different competencies that allow it to a hold a strong position in the steel industry. Globalization is going to be a major threat and there will soon be a strong push towards technological integration and advances. The United States steel indus try is very mature so Nucor will have to look internationally for profits and more growth. A joint venture will be a good opportunity for Nucor to consider so that it can accomplish this international growth. Overall, I also think that price is everything in the steel industry, especially in a time of mass globalization. Value Chain Analysis: Primary Activities: Supply Chain Management: Nucor has established a raw materials strategy so that it can control directly and indirectly through joint ventures with various partners. This helps maintain minimum levels of raw materials in inventory, but also ensures that those raw materials are present in the supplier’s inventory, allowing for inventory costs to be associated with the supplier’s balance sheet as opposed to Nucor’s balance sheet. Operations: Nucor has 49 facilities in 17 states, and was the largest recycler of scrap steel in North America. This involves less production steps, far less capital investment, and considerably less labor time. Nucor is decentralized with control at the factory level over operational decisions and processes. Because globalization and international growth are huge factors for success, this strategy should be replaced by a corporate centered approach. Distribution: On time delivery is crucial for both Nucor and the steel industry. In 2005-06, freight costs for deliveries were less than 10% of revenues, and by Nucor developing its plant sites with the expectation of having several customer companies located nearby saved them shipping costs as well. Sales and Marketing: Nucor’s status as a low-cost provider resulted in numerous customers’ entering 6-12 month contracts to purchase steel mill products. The steel industry doesn’t need to advertise, but by Nucor maintaining a good reputation it has been able to attract customers who provide the company with loyalty. Service: Quality is built into service in the steel industry. Quality control is very important to maintain the durability and exact specifications of the manufactured product. Nucor has employees both internally and externally to manage their quality control which will keep their service high, and customer’s loyalty. Support Activities: Product RD, Technology, and Systems Development: Nucor is known for developing new product technologies. They have had many advances in the steel manufacturing process, and increasing efficiency of production. A strong technological orientation enables the company to reduce its operating costs to compete effectively in this market. Human Resources Management: Management is obligated to manage Nucor in such a way that employees will have opportunity to earn according to their productivity. Employees should be able to feel confident that if they do their jobs properly, they will still have their job tomorrow. Nucor stands for their employees to be treated fairly, and gives their employees opportunities to appeal if they do not feel as though they are not being treated the way they should. General Administration: Nucor has a simple, streamlined organizational structure to allow employees to innovate and make quick decisions. There are group managers, department managers, supervisors, and the hourly employees. Group managers and plant managers report to one of the four executive vice presidents at corporate headquarters. The staff is pretty small with only 66 people in 2006, but the philosophy is that the corporate headquarters should consist of a small group of executives who will guide the decentralized operation where liberal authority was the managers in the field responsibility. Assessment: I believe that Nucor’s value chain is very attractive in comparison to its competitors in the steel industry. Nucor’s value chain involves fewer production steps, and less capital investment, with considerably less labor than the value chains of companies with integrated steel mills with give it a competitive advantage. Internally the way Nucor operates is attractive for employees knowing that they will get treated fairly, and paid appropriately. Strategic Issues/Recommendations: Areas of Concern: †¢ Lack of Global Growth †¢ Joint Ventures/Acquisitions hindering company culture Unfavorable conditions in International Growth †¢ Lack of corporate involvement Recommendations: Steel manufacturing is an old business, but is currently facing changes associated with new technologies and the rise of globalization. I recommend that Nucor takes part in this new trend of global growth in the near future. Part of its strategic plan was to do this via join t ventures, but does not have any plans so far to build and operate its own steel mills outside of the United States. I think it would be very crucial for Nucor to do this so that it can compete at a higher level than its competitors. Nucor is doing a good job of keeping up with the latest technologies, and being first-to-market with some of its own technological advances that will help the company keep its competitive advantage and remain one of the most profitable steel producers in North America. Another recommendation I’d like to make is for Nucor to incorporate more involvement from its corporate headquarters. If Nucor does start taking actions to have a more global presence, then it will need to make sure that all of its operations stay on the same page, therefore needing a bigger corporate presence. Nucor Corporation Case Analysis Essay Example Nucor Corporation Case Analysis Paper To: Dan DiMicco From: McKensie Booth Subject: Strategic Management Date: 11/9/2010 Nucor Corporation Memo Response: Per your request I have analyzed Nucor Corporation and the steel industry. After performing both strategic and financial analysis I offer my recommendations. Executive Summary: Nucor Corporation was the most profitable steel producer in North America in both 2005 and 2006. It is regarded as a low-cost steel producer in the United States, and one of the most efficient and technologically innovative steel producers in the world. Nucor is known for its aggressive pursuit of innovation and technical excellence, rigorous quality systems, strong emphasis on employee relations and workforce productivity, cost conscious corporate culture, and ability to achieve low costs per ton produced (C-194). Offering a streamlined organizational structure, Nucor uses its ability to achieve incentive-based compensation systems that rewards goal-orientated individuals for their performance. Over the years Nucor has expanded progressively into the manufacturer of a wider and wider range of steel products, which has gotten it to be able to offer steel users one of the broadest product lineups in the industry. In this industry steel products are considered commodities, and most steel plants turn out products with comparable quality to other companies. This makes one producer’s reinforcing bar essentially the same as another producer’s reinforcing bar, which in turn makes a particular grade of sheet steel made at one plant almost identical to the same grade of sheet steel made from another plant (C-195). We will write a custom essay sample on Nucor Corporation Case Analysis specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Nucor Corporation Case Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Nucor Corporation Case Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Because of this, steel producers are forced to be price-competitive with the market price of each individual steel product being driven by demand-supply conditions for that product. After considering all of these aspects of Nucor, and the steel industry I will be discussing the strength of the competitive forces, the key success factors for this industry, and the pros and cons of Nucor’s competitive strategy. A SWOT analysis will further help me analyze the situation so then I can look at how attractive Nucor’s value chain is compared to the value chains of the other integrated steel mills. I’ll conclude with strategic issues I believe that Nucor’s management needs to address, and recommend the actions I think will be necessary to enhance Nucor’s position and future performance to compete effectively against low-cost foreign steel imports into the U. S. Competitive Analysis: 5 Forces Model Intensity of Rivalry among Competitors: Fierce Global competition in the steel industry faces Nucor and the wide range of competitors that make up the industry. Just in the domestic market alone there are more than twenty competitors that range on a larger to smaller scale. This intense competition amongst the competitors causes a recurring effect within the industry. Each competitor is trying to out bid the others for a contract, which allows for price wars among the market. This goes to prove that the industry is not based on differentiated products, but rather price competition. In the end, the company with the lowest fixed costs will survive and be the most profitable. Nucor’s use of both base pay and incentive pay makes it more guaranteed that output is relative to pay, which therefore decreases the fixed costs. The use of different business models is also a good indicator of the competition. Nucor uses a decentralized structure with control at the local factory level. This allows for focused decision making, and a more efficient use of profits. Threat of new entrants: Weak The entry into any industry depends directly on the associated costs. Because of globalization growing at a rapid pace, the merging of many competitors to form larger companies have made the barriers to entry increase. Economies of scale and capital requirements seem to be the greatest barriers in the steel industry. Larger quantity orders of raw materials are usually discounted. Higher production volumes directly discount the associated costs. Product differentiation is also a major barrier to entry. Steel is not sold on its overall difference, but more commonly on price. Many manufacturers utilize the same technologies and processes. Price wars are seen to minimize fixed costs, which mean there are few switching costs from one manufacturer to another. There is very little brand loyalty in this industry, especially when it does not appeal to consumer loyalty or brand image. Entrants must find ways to compete based on lower costs. Access to raw materials can also be a barrier. A lot of the time materials must be bought in large quantities. There is no cost advantage associated with small material purchases, and that can directly increase the overall manufacturing costs. This can make competition challenging in a market where margins are already very small. Government policy is not a huge threat of entry on the domestic level, but at the international level the barriers become much larger. Well established relationships by larger steel manufacturers with government allows for easy establishment of contracts in a foreign territory. Since most steel manufacturers must be globally competitive to maintain profits government policy is a threatening entry barrier. Bargaining Power of Suppliers: Strong The supply of raw materials can have a positive or negative effect on a cost strategy. Most of the steel used in domestic manufacturing in the United States is imported. On a larger scale there are relatively few suppliers who can meet the constant demands from a steel company. Because of this it is really common for joint ventures to be established between suppliers and manufacturers. This can help decrease the costs of supplies. The biggest threat is when large suppliers try and enter the market through the elimination of a third party manufacturer. Bargaining Power of Buyers: Strong Buyers seem to be the greatest threat. Price competition arises from buyers have low switching costs and low product differentiation. Due to these factors, buyers have the power to negotiate the deal down as far as they want. Many buyers purchase in large quantities which creates economies of scale. Ultimately, the goal for a buyer is to get the best product at the most efficient cost. The goal of a seller is to gain the most financial return for the least cost. Since the market is filled with many suppliers, and if you take into account the different goals of a buyer and a seller you would conclude that the steel industry is a buyers market. Threat of product substitutes: Weak There are few substitutes for the use of steel. The largest alternative to steel would be the use of another material. Alternatives increase market presence at times of economic downturn and times of increase in steel material cost. The goal is to maintain low costs and market share during times of economic fluctuation. Plastics or Wood could be two substitutes, but neither have the same durability that steel has. Assessment: Although it may not seem like the steel industry is an attractive market due to its maturity, and even though that may be true on a small scale, I think advances in globalization for the steel industry has made it become very attractive for those that are willing to compete on a much larger scale. Key Success Factors: †¢ Ability to achieve scale economies (important to achieving low production costs) †¢ High labor productivity/low-cost product design and engineering †¢ Breadth of product line and product selection †¢ National and global distribution capabilities †¢ Overall low costs (not just in manufacturing) Assessment: It’s vital for companies in the steel industry to achieve economies of scale so that they can have low production costs. The steel itself needs to be low cost, and the labor must be productive to produce at an efficient level. The breadth of your product line can put you above the other companies and help you stand out. The ability to compete at a global level is also very important when measuring success in this industry when it may be hard to differentiate your product from others. Nucor’s Competitive Strategy: Pros and Cons Starting in 2000, Nucor started on a four-part growth strategy that involved: new acquisitions, new plant construction, continued plant upgrades and cost reduction efforts, and joint ventures. Strategic Acquisitions: Pros: strengthen customer base, geographic coverage, and lineup of product offerings. Cons: economic downturns did not make the market conditions favorable. New Plant Construction: Pros: continue to be a technology leader allowing it to be first-to-market with new steelmaking technologies, and the process of Castrip which is one of Nucor’s recent success stories. Cons: Castrip was hard to make ready for commercialization taking many years for testing and processing refinement. Low-Cost Production: Pros: capital investments to improve plant efficiencies and keep production costs low. Cons: I don’t see any cons with this strategy. Global Growth via Joint Ventures: Pros: bigger growth globally that allowed it to counteract the global warming happening. Cons: does not currently have any plans to build and operate its own steel mills outside of the United States, other than its plant in Trinidad. Competitive Analysis: SWOT Strengths: †¢ Strong market position †¢ Increased production capacity †¢ Strong technological focus †¢ Positive Company Morale †¢ Low Cost Production Weaknesses: †¢ Geographical concentration †¢ Mature industry Opportunities: †¢ Joint ventures †¢ Acquisitions Threats: †¢ Repetitive nature of the industry Consolidation in the global steel industry †¢ Increasing raw material costs Assessment: I believe that Nucor Corporation has many different competencies that allow it to a hold a strong position in the steel industry. Globalization is going to be a major threat and there will soon be a strong push towards technological integration and advances. The United States steel indus try is very mature so Nucor will have to look internationally for profits and more growth. A joint venture will be a good opportunity for Nucor to consider so that it can accomplish this international growth. Overall, I also think that price is everything in the steel industry, especially in a time of mass globalization. Value Chain Analysis: Primary Activities: Supply Chain Management: Nucor has established a raw materials strategy so that it can control directly and indirectly through joint ventures with various partners. This helps maintain minimum levels of raw materials in inventory, but also ensures that those raw materials are present in the supplier’s inventory, allowing for inventory costs to be associated with the supplier’s balance sheet as opposed to Nucor’s balance sheet. Operations: Nucor has 49 facilities in 17 states, and was the largest recycler of scrap steel in North America. This involves less production steps, far less capital investment, and considerably less labor time. Nucor is decentralized with control at the factory level over operational decisions and processes. Because globalization and international growth are huge factors for success, this strategy should be replaced by a corporate centered approach. Distribution: On time delivery is crucial for both Nucor and the steel industry. In 2005-06, freight costs for deliveries were less than 10% of revenues, and by Nucor developing its plant sites with the expectation of having several customer companies located nearby saved them shipping costs as well. Sales and Marketing: Nucor’s status as a low-cost provider resulted in numerous customers’ entering 6-12 month contracts to purchase steel mill products. The steel industry doesn’t need to advertise, but by Nucor maintaining a good reputation it has been able to attract customers who provide the company with loyalty. Service: Quality is built into service in the steel industry. Quality control is very important to maintain the durability and exact specifications of the manufactured product. Nucor has employees both internally and externally to manage their quality control which will keep their service high, and customer’s loyalty. Support Activities: Product RD, Technology, and Systems Development: Nucor is known for developing new product technologies. They have had many advances in the steel manufacturing process, and increasing efficiency of production. A strong technological orientation enables the company to reduce its operating costs to compete effectively in this market. Human Resources Management: Management is obligated to manage Nucor in such a way that employees will have opportunity to earn according to their productivity. Employees should be able to feel confident that if they do their jobs properly, they will still have their job tomorrow. Nucor stands for their employees to be treated fairly, and gives their employees opportunities to appeal if they do not feel as though they are not being treated the way they should. General Administration: Nucor has a simple, streamlined organizational structure to allow employees to innovate and make quick decisions. There are group managers, department managers, supervisors, and the hourly employees. Group managers and plant managers report to one of the four executive vice presidents at corporate headquarters. The staff is pretty small with only 66 people in 2006, but the philosophy is that the corporate headquarters should consist of a small group of executives who will guide the decentralized operation where liberal authority was the managers in the field responsibility. Assessment: I believe that Nucor’s value chain is very attractive in comparison to its competitors in the steel industry. Nucor’s value chain involves fewer production steps, and less capital investment, with considerably less labor than the value chains of companies with integrated steel mills with give it a competitive advantage. Internally the way Nucor operates is attractive for employees knowing that they will get treated fairly, and paid appropriately. Strategic Issues/Recommendations: Areas of Concern: †¢ Lack of Global Growth †¢ Joint Ventures/Acquisitions hindering company culture Unfavorable conditions in International Growth †¢ Lack of corporate involvement Recommendations: Steel manufacturing is an old business, but is currently facing changes associated with new technologies and the rise of globalization. I recommend that Nucor takes part in this new trend of global growth in the near future. Part of its strategic plan was to do this via join t ventures, but does not have any plans so far to build and operate its own steel mills outside of the United States. I think it would be very crucial for Nucor to do this so that it can compete at a higher level than its competitors. Nucor is doing a good job of keeping up with the latest technologies, and being first-to-market with some of its own technological advances that will help the company keep its competitive advantage and remain one of the most profitable steel producers in North America. Another recommendation I’d like to make is for Nucor to incorporate more involvement from its corporate headquarters. If Nucor does start taking actions to have a more global presence, then it will need to make sure that all of its operations stay on the same page, therefore needing a bigger corporate presence.