While all goods have a general purpose of satisfying the...

While all goods have a general purpose of satisfying the wants and needs of people, specific types of goods hold specialized places within the market and have various unique components. Network goods are one of these. The value of a network good increases when more consumers purchase and use them. This is obvious when noting the definition of network, being a connecting system. The network effect is what creates the aspects of a network good. The network effect refers to the fact that the more people use something, the more value it has. There are four main types of network effects: direct, indirect, two-sided and local. Direct network effect is simply defined as increased use means increased value. Indirect network effects refers to†¦show more content†¦As cell phones become more popular in general within the market, for example, your own cell phone becomes more valuable now that its utility has grow. The actual value that these goods have for the customers can be split int o two parts. One component is the value propagated by the product without taking the number of users into account. The second part, is the value that comes from being able to interact with other users because of the product. The prospect that networks are able to compete with each other implies a consideration about intellectual property law. Where one standard is owned and another is not, the unowned side is unlikely to succeed for obvious reasons. Most of the time, the monopoly will be the owner while the substitute networks will not. Even though it is not for sure that inferior standards win against superior standards, this may be mostly because most standards are supported by companies who have some kind of ownership. A classic example of this would be the telephone with both local and long distance capabilities. The company ATT was the legal monopolist according to Alexander Graham Bell’s patent of the device in 1876. When the patent expired, ATT was still the long di stance telephone monopolist due to the procurement of other patents. Because of this, ATT was the monopolist into the 20th centuryShow MoreRelatedMeaning Of Directing : Managing An Enterprise1471 Words   |  6 Pages Meaning of Directing: While managing an enterprise, managers have to get things done through people. In order to be able to do so, they have to undertake many activities, like guiding the people who work under them, inspiring and leading them to achieve common objectives. An office manager, for instance, has to supervise the activities of his subordinates, i.e., typists, office assistants, dispatchers, accounts clerks, etc. He has to issue instructions to them and describe and illustrate theRead MoreThe New Global Economy : Market Competition1493 Words   |  6 Pagescustomer needs is important. Koners et al. 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My Career Plan For Nursing Career - 1027 Words

Introduction: I have to admit in preparation of writing my nursing career, I found it very difficult to put a nursing career plan together. Over the past 12 years of my nursing career, I have learned that many of my experiences has molded my character. Nursing has so much to offer and I am fascinated by anything new that I am introduced to. I have worked in various places such as a cardiac transitional care unit, acute care rehab unit, school/camp nurse, in home nurse, and 1:1 nurse to mainstream children with developmental delay into public classrooms. So far, I have been able to enhance my connection with patients, staff, and each of the companies that I have worked for. Once I graduate, I will need to continue to bridge the connection to give accurate advice for treatment options based on higher education. I want to continue giving guidance to those who are new in the medical field and be able to offer empathy to each patient I encounter in my nursing career. 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Organizational Planning and Foleo Group Limited - myassignmenthelp

Question: Discuss about theOrganizational Planning and Foleo Group Limited. Answer: Overview Founded in the year 1988, Foleo by James Ford and Leon Thomson, Foleo Fones was originally established as a mobile phone importation company. The growth of the business led to it being changed to a limited liability company in the year 1989 after it it was renamed to Foleo Enterprises TY LTD. In an effort to overcome the challenge if reduced profitability the company diversified its product offering and ventured into the production of Foleo Accessories in the year 2002. This paper proposes an initiative that will expand the current operations of Foleo Accessories business unit. In doing this the paper will present a SWOT analysis of the companies accessories unit and based on the analysis propose a suited initiative. SWOT Analysis of Foleo Accessories Unit Strengths A major strength for the accessories unit is that the companys primary production facility in Western Sydney had been redesigned to accommodate the manufacturing of Foleo Accessories products. This serves to significantly reduce the cost of production and ensure the company has control over the production process. A key advantage for Foleo accessories is the fact that the products are sold direct to the consumer through Foleo owned kiosks that are across Australia. This serves to mitigate the problems of pricing and profit margins. Foleo accessories also have an online marketing platform enabling it to sell to a larger clientele base and reducing the cost operations. Another advantage for the company is the fact that the organization operates under a decentralized system allowing for efficient decision making for the accessories unit. Weaknesses Challenges with material delivery timelines and quality impacted the effective operation of the units. Lack of control over warehouse and purchasing affairs negatively impacted the production of SliFones accessories as the head of the accessories unit has little influence over row material management and supplier selection. Opportunities Further decentralization of Foleo accessories from Foleo Fones will provide Foleo accessories with more independence to be able to attain success as it would be able to increase its capacity and overcome restrictive H.Q policies. By establishing another manufacturing plant the company will be able to effectively service its extensive clientele base that it is unable to currently service. Threats A major threat for the organization is competition from other foreign based companies involved in the manufacture of accessories. Another key threat for the organization is the fact that most of its accessories are reliant on the SliFone thus increasing the amount of risk the unit is exposed to. Inability to effectively meet consumer demand also laces the business unit at significant risk of low customer retention rates. Proposal Based on the information derived from the SWOT analysis it is evident that for Foleo to grow, it should completely decentralize its operations providing Foleo accessories with the independence to make essential decisions by its self. This will make it possible for the accessories unit to establish another manufacturing plant and in doing so be able to meet consumer demand. It will also eliminate the conflict that exists between the unit and warehouse management and procurement as the unit will be able to make its own decisions regarding warehouse operations and procurement services. This will ensure the company is able to meet its objective of being the primary provider of phone accessories in the region. Proposal A review of the operations and marketing environment of Foleo LTD reveals that the best suited strategy for the success of its Foleo Accessories unit is further decentralization of its operations. Therefore the paper proposes that Foleo Fones should completely decentralize its accessories unit for the unit to operate independently from the bureaucracy of Foleo Fones. SWOT Analysis Strengths A major strength of Folio accessories is the fact that it has its own manufacturing plant and thus is capable of ensuring product quality and minimizing cost of production. Another strength of the organization, is the fact that its products are sold directly to consumer through a network of its own Kiosks thereby serving to reduce the operational challenges of using third party retailers. Weaknesses A major weakness for Foleo accessories is the fact that it has little control over warehousing and procurement operations. This has led to a number of challenges with regard to timelines and quality of products. These challenges have served to significantly affect the operations of the company. Opportunities A key opportunity for Foleo accessories is the fact that the organization has an extensive consumer base and currently unable to meet market demands. By establishing a new manufacturing branch for the accessories unit, the company will be able to effectively supply its products to these market. Threats A major threat for the accessories unit is competition from other companies in the accessories business like Apple accessories.