The Industry Life Cycle Essay Paper

The Industry Life Cycle
The Industry Life Cycle

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The Industry Life Cycle

The industry life cycle refers to the different stages of growth that a business in a particular industry goes through over its life. Each stage has its varying characteristics and these are expected to shift with each change of stage.

The first stage in the industry life cycle is known as the startup. The startup stage is characterized by high expectations of a wide market, wide profit margins, and outstanding performance. The second stage in the life cycle is known as consolidation. This consolidation stage is characterized by growth stability, widening of markets, reduction of unit costs, and an improvement of the quality of goods and services offered in the markets.

The third stage in the industry life cycle is known as the maturity stage. The primary characteristics of the maturity stage include a deceleration in the growth rate owing to maturing markets and an increase in the number of products offered in the markets. The fourth stage in the industry life cycle is the relative decline of the business. This stage is characterized by declining sales and counterproductive costs per unit which may not be viable to continue with.

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The passenger car segment of Universal Auto is characterized by a decline in the growth of the business. As such, it is in the declining stage of the industry life cycle. On the other hand, the information processing segment of the company is in the startup stage of the business life cycle owing to short life span and high growth expectations.

Product pricing for the information processing services segment of the company and the car business segment is different owing to the different stages they occupy in the industry life cycle. For the information processing business, the pricing can be flexible due to increases in demand. On the other hand, for the car business, product pricing changes are not flexible due to the declining demand for the business in the declining stage.

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Sensitive Business Cycles

Sensitive Business Cycles
Sensitive Business Cycles

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Sensitive Business Cycles

Between general autos and general pharmaceutical firms, general autos firms are more sensitive to business cycles. Since the purchases in the auto industry are more discretionary compared to the pharmaceuticals, the general autos firm will be more sensitive.

Between Friendly Airlines and Happy Cinemas, the Friendly Airlines will be more sensitive to business cycles. The reason is that traveling expenditure is more sensitive to changes in the business cycle compared to entertainment expenditures such as the purchase of movie tickets.

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Product Innovation and Management

Product Innovation and Management
Product Innovation and Management

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Product Innovation and Management

Product and target market

In this report, we have three classes of products for review: telecommunication services, phone devices, and accessories. Each of these broad product categories has its own characteristics and individual trends within each age group and target market. The target demographic for these products is the baby boomers age group. The baby boomers demographic refer to the people born between the years 1945 and 1960.

This is a ready target market for such products since they have the disposable income to afford such commodities, they are present in social media, tech savvy, make purchases to improve their lives, they buy goods for both themselves and others, and are responsive to hipster advertising approaches (Patel, 2017). As such they are a perfect market for the products of choice and can conveniently respond to marketing and make purchases.

Markets – what does the competitive landscape for your product look like?

Main product segments

The main product segments for this analysis are telecommunications services, phone devices, and phone accessories. For further analysis, the focus of this report shall be the various features, competition, and trends in the three market segments identified above.

The main reason for this selection of these segments is that they have a great potential for growth in the target market of baby boomers (Deloitte Touche Tohmatsu Australia Ltd, 2014). In this regard, therefore, the expected growth, as well as the habits and characteristics of the baby boomers present a great combination for the product of telephone devices.

Product Innovation and Management

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The target market for the chosen products is baby boomers. It is among the most attractive consumer segments for the choice product of telephone devices. The demographics of the chosen market allow for the potential consumers to purchase the products often. For instance, baby boomers are known to love technology and they will invest in the products repeatedly (Deloitte Touche Tohmatsu Australia Ltd, 2014, p. 6).

Additionally, the baby boomers will invest in not only themselves but also others. The main beneficiaries of their investments are the generations X, Y, and Z, who are mainly their children and grandchildren through the gifting of mobile phones (Patel, 2017; Deloitte Touche Tohmatsu Australia Ltd, 2014, p. 7).

The trend in the telephone market in Australia has been one depicting a dwindling use of feature phones and telephone booths. The decline of such telephone devices has, however, resulted in the sharp increase in the uptake of smartphones (Market Line Advantage, 2017). Such trends have led to spectacular growth records, where the value of the mobile industry was at $3,405.9 million in 2016.

However, after the explosive growth over the past few years, the industry is expected to grow at a decreasing rate. Industry estimates place the growth rate at -1.9% for 2021 (Market Line Advantage, 2017). However, customer desires and expectations that directly target the baby boomers could shift this trend. A growth of features and innovations that the baby boomers find helpful could offshoot the expected decline in growth trend in a different direction.

Product Innovation and Management

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Major competitors and their products

Within the mobile smartphone and other related devices segment, there is a notion of an increased competition. However, trends and market data show that there are four major competitors in the mobile devices industry: Apple, Sony, Microsoft, and Samsung (Market Line Advantage, 2017). However, for the target market of baby boomers, they are more inclined towards the use of Samsung products as opposed to the preference for Apple phones as in the case for the millennials (Deloitte Touche Tohmatsu Australia Ltd, 2014).

Trends in the types of products being developed and launched

Trends in the phone devices segment. Over the years, trends in the mobile devices industry are coming together to prove a unified theme for the mobile devices in the industry. For the most part, for example, there is an increase in the screen size as well as the processing power and memory capacity of the mobile devices. As such, there is an increase in the efficiency of such devices across the market.

With the increase in efficiency, performance, and computing power of the smartphones, there is a trend to take over jobs previously held by other devices. The target market of baby boomers is identified as being responsive to products that make their lives easier (Deloitte Touche Tohmatsu Australia Ltd, 2014, pp. 8 – 9). As such, these trends of the developing devices should help in marketing the products to the target market.

Product Innovation and Management

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Trends in the telecommunication services segment

The telecommunications services segment of the industry is comprised of both the wireless and the fixed line telecommunications market. As such, the industry volume, operations, and trends are determined by the combination of subscribers to both the fixed line telephones and mobile telephone services (Market Line Advantage Australia, 2017). Various trends are observed in both the fixed line and wireless product variants, as well as in the telecommunications services industry segment.

Among the key trends includes the changeover between the two main products. In this regard, there is a noticeable change, where the number of subscribers to the fixed line telecommunications services has been dwindling over the years. Concurrently, the number of users subscribed to the wireless mobile networks have been increasing over the same period (Market Line Advantage Australia, 2017).

Another observable trend in the telecommunications services is the increase in the quality of services. Over the years, there has been a significant increase in the efficiency and capabilities of the telecommunications sector in the country and globe as well. The milestones achieved by the telecoms companies are mainly attributed to the growth in technology that supports their operations and service delivery to the increasing number of subscribers (el-Darwiche, Péladeau, Rupp, & Groene, 2017).

The growth in the service delivery is as a result of modernization of infrastructure and the improvement of technical skills among staff. In addition, the involvement of multiple firms in the business has increased the competition in the industry. As a result, the involved companies have to stay on top of their game to ensure they have a competitive edge over the other players.

Product Innovation and Management

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Looking into the future, experts place continued competition, and involvement in related industries as among the key trends to be observed in 2018 onwards. PWC Australia predicts the intensification of the competition by the telecoms companies operating in the country. In addition, there is supposed to be an improvement in the technology to enable better access to services such as a broadband network.

There is also an expectation to see the involvement in various sectors such as e-commerce and government to citizen services (PricewaterhouseCoopers Consulting (Australia) Pty Limited, 2018). Given these predicted trends, the telecommunications sector is expected to experience exponential growth in the foreseeable future, unlike the other comparable products and segments.

Trends in the phone accessories segment

The exponential growth of the mobile phone accessories market is directly related to the rise and growth of the usage of mobile phones. In this regard, most of the trends in the phone accessories are directly related to the growth in the mobile phone market, as well as the growth in technology. A case in point is the growth in the demand for quality headphones to accessorize the capability of modern smartphones as music players (Allied Market Research, 2016).

Such demand led to shifts in the manufacturing processes, where most mobile phone companies bundle earphones together with the phones. However, some consumers require more superior services to accessorize the music and instead purchase alternative headphones by more prominent companies with established products.

Product Innovation and Management

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Another mobile phone accessory case where  the trend is connected with the trends in the mobile telephone industry is the mobile phone cases industry. In the recent past, there have been numerous companies that have been established, whose sole concentration is on the research and development of mobile phone cases.

Such companies are using the latest technology in a bid to improve both the design and functionality of the cases (Allied Market Research, 2016; Market Line Advantage, 2017). In this regard, the business of the mobile phone cases is one that is expected to grow, either in tandem with the mobile phones or by a greater margin given the high demand for multiple smartphone cases by numerous individual users.


Allied Market Research. (2016, October 3). Mobile Phone Accessories Market to Reach $107.3 Billion by 2022, Globally. Retrieved from PR News Wire:—allied-market-research-595639141.html

Deloitte Touche Tohmatsu Australia Ltd. (2014). Mobile Consumer Survey 2014: The Australian Cut – Revolution and Evolution. Retrieved from Deloitte Australia Ltd:

el-Darwiche, B., Péladeau, P., Rupp, C., & Groene, F. (2017). 2017 Telecommunications Trends: Aspiring to digital simplicity and clarity in strategic identity. Retrieved from PWC Strategy&:

Market Line Advantage. (2017, March 28). Australia – Mobile Phones. Retrieved from Market Line Advantage:

Market Line Advantage Australia. (2017, July 19). MarketLine Industry Profile: Telecommunication Services in Australia. Retrieved from Market Line Advantage Australia:

Patel, N. (2017, April 26). Forget Millennials. 7 Reasons Why Baby Boomers Are the Ideal Target Market. Retrieved from Quick Sprout:

PricewaterhouseCoopers Consulting (Australia) Pty Limited. (2018, February). Five trends for Australian telecoms in 2018. Retrieved from PricewaterhouseCoopers Consulting (Australia) Pty Limited:

Product Innovation and Management

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Contract Law Assignment

Contract Law
Contract Law

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Contract Law


The purpose of this project is to create a plan that demonstrates your understanding of contract law. 
The project requires you to identify and analyze legal issues and to make recommendations based on one or more fact patterns. These issues will relate to the concepts covered in weeks 4 and 5 about contract law.
You will also develop skills in developing a PowerPoint presentation, in writing a summary report and using critical thinking to write an in-depth comprehensive analysis.

Outcomes Met by Completing this Assignment:

Recommend appropriate actions in the business environment based on an understanding of sources of law, legal process and procedure, and available remediesanalyze contractual rights, obligations, liabilities, and remedies in the business environment

For Project 2

You may search the internet for sample contracts, but not copy/paste form contracts from internet.The project contracts are to be relatively simple, straightforward and reflect all facts included in the scenario, but only the facts given – it is best to not “over think:” or make the assignment overly difficult.Please review the assigned materials for details about what is to be included in sales contracts.

The best e-contracts are relatively simple, straightforward, clear. Many of you will have been a party to an e-contract, so you can apply your experience, as well as assigned material to create a sample e-contract for the facts given.Contract typically should be specific, very clearly written, and not too complex.

Read the Following Background Information:

The PI owners are anticipating that as the business begins and becomes busy, potential contract-related problems and disputes could arise from purchases of paints and supplies from Naturals, and from sales of supplies and paints to local and internet customers.

For example, the PI owners know from their prior business experiences, that hassles often develop with manufacturers when a company places an email purchase order to which the manufacturer does not reply, but simply ships nonconforming goods or ships orders too late to meet customer needs. Another problem area is related to internet sales where customers often claim the sales contract is confusing or incomplete sometimes resulting in mistakes in orders and cancellations. 

These problems can be time-consuming, detrimental to the bottom line, and can create damaging publicity and a negative image for any business.

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Pat and Gale, the lead consultants working with the PI owners, and you, along with the PI owners, Jo, Maddy, and Taylor have discussed these problems and the need to minimize disputes and liabilities for PI arising from its contract agreements.
After several meetings, Pat and Gale ask you to develop sample form contracts designed to minimize contract sales disputes and possible liabilities for PI.


There are two parts to this project. In the first part, you will create two (2) sample contracts. In the second part, you will write a brief memorandum.

Part I

Create the following two (2) sample contracts for PI that are all consistent with UCC rules regarding sales.

A. Create a standard form sales contract to be used to purchase an order of paint from Naturals.
B. Develop a standard e-contract form for internet sales of paint sold by PI to internet customers; include shipping policies and procedures. (PI will be reselling paint it purchases from Naturals via the internet.)

DO NOT use standard form contracts from the internet; this will be obvious and will not receive credit.

Part II: 

Write a brief memorandum addressed to the PI owners. Write in depth, comprehensive analysis and explanations to support conclusions.

Explain the following: 

Analyze and discuss how the standard form sales contract (created in Part 1. A. above) for purchase of paint from Naturals will help prevent or minimize contract disputes and possible liabilities.Analyze and discuss how the standard form e-contract (created in Part 1. B. above) for internet sales of PI paint will help prevent or minimize contract disputes and possible liabilities and losses.

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Format for Report

Create a Word or Rich Text Format (RTF) document
Double-spaced, 12-point font, Arial or Times New Roman
No page requirement
Include title page with your name, course/section number
Use in text citations
Include a References list of cited resources
Write clearly and concisely.

Use the given scenario and facts to create the sample contracts; do not use contract forms from the internet – that will be obvious and may result in grade penalties.
Label each part as follows: 

Part I

Part II

Review the Contracts and Memorandum

Thoroughly read the contract and memorandum to ensure all required elements are present. Use the grading rubric to ensure that you gain the most points possible for this assignment.

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Business Consultants Associates (BCA)

Business Consultants Associates
Business Consultants Associates

Business Consultants Associates

BMGT 380: Introduction to Business Law

The BMGT 380 course centers on the story of a company, Business Consulting Associates (BCA), a business consulting and research company based in Maryland that advises and conducts research for potential owners considering new business ventures. You and your classmates will be active participants in the story acting as employees of BCA assigned to complete consulting-related and/or research assignments and projects for BCA clients throughout the course.

Your assignments for BCA will concentrate on four categories of business law principles that present significant risks and liabilities for start-up businesses. These legal principles are (1) business structures, sometimes called business forms, (2) tort law, including negligence, premises liability, and product liability, (3) contract law, including Uniform Commercial Code sales and lease contracts and e-contracts, and (4) agency law.

Starting a new business requires extensive preparation, market research, and examination of the legal environment of business. Identifying the nature and scope of legal risks and liabilities that affect business practices and decisions is essential before organizing a business. Exploring ways to prevent, minimize and resolve risks and liabilities is also important in forming a new business. The primary focus for the 380 course and completing assignments for clients of BCA will center on the question: How can a business owner identify and minimize legal risks and liabilities associated with

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Background: Business Consultants Associates (BCA)

After graduating with a B.S. in Management, you have been working for BCA for almost two years as an assistant consultant for Pat Braden and Gale Roth, senior consultants who jointly direct the construction services consulting department for BCA. Pat and Gale have assigned you to assist them in advising their new client, a start-up residential
painting company named Painted Images.

Background: Painted Images (PI)
Jo, Maddy, and Taylor are friends, business acquaintances, and residents of Maryland. Jo has been the project manager for twelve years for a construction company owned by a general contractor and developer. Maddy and Taylor have owned and operated a small, successful home rehab and “flipping” business for ten years.

After considering several business ventures, the group decided that a residential painting business would be a good fit for their professional experiences, skills and interests and agreed to pursue the possibility of launching a Maryland-based painting business named Painted Images. The three hired a market analyst to research market trends and demands for the painting services industry and confirm whether Painted Images would likely be a viable business in their community.
The market analysis showed there is an increased demand for homes services businesses in the region. Consequently, the group decided to move forward with their idea to establish PI.

Business Consultants Associates

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The group is committed to operating and marketing PI as a green business. Most paint contains high VOC (volatile organic compounds) that pollute the air, particularly indoor air. According to the Environmental Protection Agency, VOCs are considered one of the top five hazards to human health, arising primarily from interior paints and finishes. New environmental regulations and manufacturing techniques have led to the development of low-VOC and zero-VOC paints that are durable, cost-effective and less harmful to human and environmental health.

Jo, Maddy, and Taylor plan to purchase all paint and other supplies from Naturals, Inc. (Naturals), a mid-sized manufacturer of zero-VOC paint and chemical free paint supplies. The potential owners of PI are familiar with Naturals as each has purchased from Nautrals for their respective current businesses. PI plans to resell certain Naturals products to PI clients directly for painting jobs, and
via internet sales.

PI will be headquartered in a business space in a local shopping center. The PI headquarters will include private business offices, a reception area, and conference meeting and planning space to which potential and existing customers will be invited to discuss proposals for painting jobs, paint products, and to complete contracts for painting jobs. The business space will be open to the public to collect information and inquire about PI services, examine paint displays, and view photos and exhibits from ongoing and past painting jobs.

Business Consultants Associates

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The potential PI owners recently attended a start up business seminar sponsored by the local chapter of the Small Business Administration. Following the seminar, the owners held several meetings to define the nature and scope of the work to be done to prepare a clear plan for the startup business. They realized this process requires time, thoughtful analysis, and clear guidelines as the owners have somewhat different priorities, interests and expectations.

They also recognized that they need for professional business consultants, such as BCA, to guide their start-up for PI. Consequently, the three have hired BCA to advise and guide them through the start-up process for PI.
Painted Images Owners

Jo: Jo wants an initial 30%-40% interest in PI, but wants to limit future capital commitment until the business is operating profitably. Jo wants the option to acquire others’ interests if they die or leave the business for any reason. Also, Jo wants to take out money from the business, in the form of salary, benefits, expenses, or dividends, as appropriate, as soon as PI has a healthy net profit margin.

Business Consultants Associates

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Jo is most concerned about liability and knows the other owners are trustworthy and ethical, but wants to limit personal liability in the business to no more than capital contribution. If possible, Jo wants Key Man Insurance for the owners so all will have protection if one owner can no longer contribute to business for any reason. Jo prefers a strong managerial position to make decisions for day-to-day operations. Jo is willing to be involved in day-to-day business operations and wants to play a key role, along with the other owners, in establishing the structure, and the business environment and culture for PI.

Maddy: Maddy wants at least a 25% interest, and prefers to minimize additional investments to protect personal cash assets needed for other business investments. Maddy’s main goal is to realize a return on investment as quickly as possible. Maddy wants to minimize personal liability, especially in the event of bankruptcy or death of any of
the other owners. Maddy wants to participate in long-term business decisions, but does not want to be involved in day-to-day business activities. Maddy prefers to hire a general manager to run the business, although is willing to consider having others manage the business.

Taylor: Taylor is enthusiastic about the new business plans and trusts the others and respects their business expertise. Taylor is willing to commit to an investment of 51% interest in PI, but is agreeable to a lesser interest. With a maximum interest of 51%, Taylor would want complete control over business operations. Even with a lesser investment, Taylor wants a strong managerial position and prefers owners with a minority interest to be silent in day-to-day management of PI. Taylor wants to minimize personal liability.

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Effect of Chinese Government Policies

Effect of Chinese Government
Effect of Chinese Government

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Effect of Chinese Government Policies


The essay examines the effect of Chinese government policies when it comes to addressing long-term unemployment, wage inequality, gender discrimination; and inward and outward migration.

Long-term unemployment

Although the economy of China has increased about 2.5 million employment opportunities since the beginning of 2012, almost 4.8 million (3%) individuals were jobless for over 6 months since 2013. Prolonged job loss has become a major challenge for Chinese economy while creating considerable problems for employees, their families, and society. Minimizing long-term unemployment while assisting the affected people, families and communities are essential for policy makers irrespective of their levels.

A robust, healthy and dynamic economy is critical when it comes to addressing prolonged joblessness, however, policies that stimulate continuous growth to seem to be vague. In the case of absence rapid economic development, particular policies can be imperative in assisted that long-term jobless get job opportunities help their families with the effects of prolonging unemployment. Such policies are job training, employee development initiatives (Bidani and Goh, 2004)

A robust economic development can be an appropriate solution to minimizing prolonged joblessness. Long-term unemployment leads to adverse effects on the community. Currently, the majority of Chinese believe that it’s the government’s role to reduce the costs of preventing long-term unemployment (Qiu, 2006).

Effect of Chinese Government Policies

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Nevertheless, the aspect of government role when it comes to combating long-term unemployment presents sharp incongruity amongst economists. While economist activists support the government’s responsibility, non-activists believe that government policies must be avoided.  Such disagreements began more than five decades, which presents a vital backdrop for recognizing the enduring debate regarding the effects of government policies in addressing long-term unemployment.

Afterward, the massive and long-term joblessness coupled with industrialized market challenged the classical theory’s predictions. Depression was used to portray a worst recession. The Great Depression in 1929 and lived up to its name, when it started unemployment was about 3.2%, and four years later it rose to 25% while the real GDP reduced by over 25%. 

Apparently, classical theory demonstrates that unemployment can be moderate as well as short-term, which a direct inconsistency of reality, that is supply creates Nonetheless, the Keynesian model indicates that long-term employment is a result of demand and supply. Moreover, organizations highlight production decisions based on the degree of estimated demand or anticipated total spending (Galasso, Ravallion, & Salvia 2004).

The more people spend, the higher the output organizations will anticipate selling and manufacturing. Implicitly, supply/productivity act in response to demand- not the opposite, as demonstrated by classical theory. Of great importance is that Keynesian theory shows that the degree of total expenditure can be insufficient to provide job opportunities, and traditional model presents false information about modification of interest rates to combat long-term unemployment.

Effect of Chinese Government Policies

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Government Intervention in long-term unemployment

Because Keynesian theory fails to support the idea that market economics could be used use to prevent long term employment. Keynesian theory shows that the government can use various policies in a bid to leverage aggregate demand (AD) using demand and supply policies.

Demand related Policies

These policies are vital when there is recession leading to prolonged joblessness, for example, the after 1991 and 2008. Some of these policies include;

 Fiscal Policy

The Chinese government uses fiscal policy to reduce unemployment through increasing AD and the rate of economic growth.  However, this calls for pursuing expansionary monetary policy, which entails reducing taxes while increasing government expenditure. Reduced taxes lead to high disposable income and helps in enhancing consumption in turn contributing to a high AD. As such a high AD leads to increase in real GDP. 

If organizations produce more, it leads to greater demand for employees and this reduced demand-scarce joblessness. Moreover, with a high AD as well as a robust economic growth, fewer organizations will be insolvent implying less joblessness. In this regards, the federal government recognizes some of the challenges associated with prolonged job loss while enhancing available services such as boosting employment opportunities, address problems of housing bubbles especially those who prefer to move jobs and assist those that want to low paying jobs.

According to Keynesian theory, in particular during the recession, capital and labor are redundant, for that reason the government must get involved so as to create extra demand so as to minimize long-term unemployment (Galasso, Ravallion, & Salvia 2004).

Nonetheless, this mainly relies on various elements of aggregate demand such as if at all self-assurance is low, reducing taxes cannot lead to growth in client spending since individuals may choose to save. Again, individuals may not spend tax reductions if they are reversed immediately. Fiscal policies are associated with a time lag that attempts to increase government expenditure can take much time to impact changes in aggregate demand.  Assuming, that economy is almost full, an increase in aggregate demand can lead to inflation.

Expansionary fiscal policies may only minimize joblessness in the event of productivity gap; in turn it requires high regime borrowing. Eventually, monetary policies can result in crowding cut that is the government increases spending although they reduce spending and thus aggregate demand decreases. Nevertheless, Keynesian theory shows that crowding reduction cannot take place in a case of liquidity gap.

Effect of Chinese Government Policies

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Monetary Policy

With monetary policies, the government reduces the interest rates, which in turn minimizes borrowing costs while encouraging individuals to spend as well as invest. This raises aggregate demand and allows GDP to grow and minimize demand-scare joblessness.  Additionally reduced interest rates lead to a decrease in exchange rate making exports extra competitive.

Under certain conditions, low-interest rates can be unproductive in increasing demand.  However, monetary policy relies on other elements of aggregate demand. On the other hand, reduced interest rates cannot help increase spending, if financial institutions are not ready to give loans (Lund, 2002).

Supply Side Policies

Supply policies are associated with macroeconomic parameters. Much as supply policies do not increase the overall AD; they aim at overcoming the imperfections in job market and minimize long-term employment as a result of supply factors including structural, frictional and classical or real wage (Qiu, 2007)

On supply side policies, the government uses various policies;

  • Training and education programs. They purpose to assist the long-term jobless with new skills that allow them to get jobs in upcoming sectors. Nevertheless, in spite of providing training and education initiatives, the jobless can be either unable or not willing to learn new concepts. In any case, this is likely to take a long period to reduce joblessness (State Council PRC 2005).
  • Job subsidies. Organizations are given tax breaks/ grants due to prolonged unemployment. This is important particularly in giving them self-assurance as well as on job education. Nonetheless, it’s relatively costly while encouraging organizations to substitute existing employees with prolonged joblessness to gain from subsidies.

Effect of Chinese Government Policies

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Wage inequality

China experiences a remarkable growth in the income gap between urban and rural masses. This lies at the center of social unrest in the nation while leading to significant dangers for the leadership of Chinese Communist Party (CCP). While government economic policies have attempted to provide 30-year growth at 30% and improved the lives of more than 600 million from poverty, the frequency of crowd incidents has grown from 8,700 to 180,000 cases in 1993 to 2010 respectively. These disputes entail claims of corruption as well as illegal land seizures by local governments (Appleton et al., 2004).

Government policies

Increasing personal income

The Chinese government has doubled personal income from 2010-20. In addition, it has increased the minimum wage to 40%. Nevertheless, experts are not impressed by such policies since according to official statistics, averages income for migrant employees, a group the is expected to benefit from the wage increase are already enjoying about 50% of the average salary (Knight and Song, 2007).

Liberalizing Interest Rate

The government has liberalized interest rates so as to promote market-based rates and increase the floating range of deposits as well as loans. The objective is to increase payment of interests to savers while helping boost household incomes. This policy is essential particularly for effective regulation of the economy of China to consumption-driven development. In fact, interest rates on deposits have delayed inflation for several decades leading to negative returns for households (Xu and Ximing 2013; Sicular et al., 2008).

Effect of Chinese Government Policies

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Tax Reforms

The government initiated a number of tax reforms such as consumption taxes on luxury products and services (Zhao and Sai 2007).  However, it is not clear if the attempt when to negate inequality plan made two years ago.  The Chinese government has been slow in implementing a property tax, something that is likely to suitable for ensuring equitable distribution of income. For an extended period, Chinese administration has promised to impose taxes on properties however up to now it has managed to target luxury features in a number of cities. (Li, Chuliang and Sicular, 2013).

Government policies on gender discrimination

The constitution of China highlights the importance of equal treatment of all citizens regardless of their ethnicities, religious practices, gender among others. Furthermore, China has various laws as well as government policies that foster equality, particularly in workplaces. Nevertheless, workplace discrimination is not only pervasive but also extensively practiced by private and government organizations.

Policies that aim at combating gender discrimination are hindered by technical difficulties, ineffective enforcement and conflicting reforms and government policies that seem to foster instead of discouraging gender discrimination (Appleton et al., 2014).

In China discrimination among women is widespread and begins even before they join the labor market. Gender-based quotas and enrollment reforms in higher learning institutions are common, regularly leading to higher performance among women compared to men, in particular, majors such as military and police force. Much as China’s ministry of education defends such practices, they often extend to majors with less association with gender, such as sciences.

Upon graduation, women have a hard time compared to men in getting employment opportunities, particularly in technology and science fields (Brandt, Loren and Thomas 2008). Nonetheless, gender discrimination is rampant low-skilled professions. By and large, male are ideal for white-collar opportunities while sales and clerical jobs are preferred for female.

Effect of Chinese Government Policies

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According to Becker’s Discrimination Theory, there are various categories of employees including skilled, unskilled, men or women (Becker, 1971). It also involves individuals with undesirable traits and those without non-fiscal considerations on who to recruit. Organizations can reject to recruit from these categories since they wrongly undervalue their economic competence. Organization’s traits are discriminatory not based on their gender rather they are ignorant about their actual power (Wang et al., 2014).

Government reforms

Equal employment

The Chinese government has guaranteed for equal work for men and women. Employment is the foundation of individuals’ livelihood and essential resource that women depend on for subsistence. For many years, the government has encouraged women to start their own business and given them special treatment when it comes to employment training tax breaks.

In addition, the Chinese government has implemented favorable reforms for women including the creation of public-welfare opportunities, the introduction of employment centers, funding special recruitment practices and vocational courses, monitor gender discrimination against employed women and help those primarily laid off to find new opportunities (Wang, et al.,.2014).

Effect of Chinese Government Policies

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Laws and guidelines

While the constitution of China has various statues that highlight on gender equality, they are inadequate when it comes to preventing gender discrimination. Such vagueness and inadequate implementation of reforms mean that gender discrimination cases are not addressed.

Increasing concern and activism about gender discrimination particularly in workplaces in 2000 contributed to the implementation of various policies;

  • Law on the Protection of Rights and Interests of Women that prohibits sexual harassment
  • Regulation of Employment for People with Disabilities of 2007 that requires firms to provide at 1.5% of employment positions to disabled people
  • Convention on Discrimination in Employment and Occupation that requires the administrating to implement broader policy frameworks against gender discrimination in workplaces

On the other hand, these policies continue to be wanting in efficiency, coverage, and management. For example, they depend on local employment centers that are not only overworked but also understaffed to monitor and rollout anti-discrimination policies. Also, because prospective workers are not real workers based on the law, cases of gender discrimination in places of work are never subjected to labor dispute negotiation structure, and the victims should use official court procedures that are expensive and time-consuming.

Employment Promotion Law was considered an important tool for addressing gender discrimination in workplaces; however in reality its impact has been muted. Apparently, gender discrimination is prevalent and implementing of anti-discrimination reforms is deficient, despite some development (Zhang et al., 2004).

Effect of Chinese Government Policies

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Nevertheless, the enforcement of laws coupled with activism like Yirenping and the Equity and Justice Initiative and  Act Together in Guangdong presents a basis for awareness concerning gender discriminatory practices and importance for additional reforms. The relevance of activism in promoting gender equality in China cannot be overlooked, especially in the application of laws to litigate as well as openly humiliate discriminating firms. In spite of progress further policies are necessary to fight gender discrimination including;

  • Increasing the coverage of ant-prejudice laws to involve general forms like sexuality, individual beliefs, age, and physical appearance.
  • Increasing fines charged on firms from 1,000 to 50,000 yuan per instance.
  • Establishing a government agency responsible for addressing gender discrimination in workplaces. Such a body will be in charge of executing anti-prejudice regulations and suitable structure for investigating and mediating issues related to gender biases.

Inward and outward migration

Migration presents opportunities as well as challenges. Much as well-managed migration can promote welfare in home and destination nations when mismanaged it can threaten social cohesion, safety, and autonomy.  Government policies on migration should focus on knowledge however such knowledge should be developed in a way that deals with policy priorities. Chinese internal migrants considerably contribute to the growth of China’s economy for the past three decades, particularly in the initial phase of economic liberalization.

For example, in the early stages, when the country opened to the world, it received about USD 9546.5 million FDI out of which USD 9254.6 million was from inward migrations while USD 292.34 million from the outward (Smart and Hsu, 2004). Simply put, inward migrations have been the primary source of Chinese inward FDI. On the other hand, inward migration is regarded as a vital when it comes to cross-border trade as well as commercial networks, which are in turn viewed as essential parameters for economic integration Zhuang and Wang, 2010

While China has witnessed tremendous growth due to inward and outward migration, demand and supply dynamics trigger to this development leading to urbanization trends. According to neoclassical theory, with inadequate supply and increasing demand for cheap workforce attract immigrants from a country with surplus labor. With regards to China, high demand for workforce in urban regions and other countries is due to to; a) increasing investments in manufacturing industries and b) elderly population coupled with declining rates of fertility.

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Government policies: 2012 law

The law involves combating “three illegal”- unlawful entry, residence or employment in China.  In addition, the law increased fines for all crimes related to migration. For example, expired visa from $800 to $10,000 while for detention for same crime increased from 3 to 10 days or 2 months for complicated cases (Zhang,  2003). Nonetheless, this law has not initiated strategies to manage the nation main problem; migrants trapped in China due to expired visas. While visa applications can be supported through housing registration, such registrations require valid travel credentials.


The essay was dedicated to reviewing the effect of Chinese government policies to address long-term unemployment, wage inequality, gender discrimination; and inward and outward migration.


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Brandt, Loren, & Thomas G. Rawski. 2008. China’s Great Economic Transformation. Cambridge: Cambridge University Press.

Galasso, E., M. Ravallion, & A. Salvia 2004. ‘Assisting the Transition from Workfare to Work: A Randomized Experiment.’ Industrial and Labour Relations Review 58:128-142.

Knight J., Song L.2007. China’s Emerging Wage Structure, 1995–2002. In: Gustafsson B., Shi L., Sicular T., editors. Inequality and Public Policy in China. Cambridge, UK, and New York: Cambridge University Press. p. 221-42.

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New Product Development Process

New Product Development Process
New Product Development Process

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New Product Development Process

The main components of a New Product Development process and the benefits of using the Stage-Gate Product Innovation system in the New Product Development Process

New product development (NPD) is an important cornerstone to the success of any firm. To remain competitive, companies cannot bury their head and seem less concerned about developing new products that add value to their customers (Salgado, Salomon & Mello, 2012). Because of these, new product development process is important to businesses and the reason why companies should invest in it.  NPD ensures that a new product is introduced in the market to meet the needs of the customers. The paper critically evaluates main components of a NPD process as well as benefits of using Stage-Gate product innovation system.

Before a new product is introduced in the market, it has to go through different processes or stages. The major components of NPD include; opportunity identification and idea generation, product concept development, concept testing, design and engineering of products and lastly is the prototype development and testing (Hauser & Dahan, 2007).

Opportunity identification and idea generation is the first component of NPD process. This is a the most important component that kick-starts the process of development of a new product (Hauser & Dahan, 2007). The new product opportunities are identified or new ideas emerge based on the customer unmet needs. Customers are the major source of inspiration and therefore, any new idea generated must focus on meeting their needs. At this stage, it is important to embrace and consider the views or ideas of other stakeholders such as customers, suppliers, and employees’ point of view.

Communication of this view is expected in good time and no one should be left out (Salgado, Salomon & Mello, 2012). Some challenges may be experienced when gathering information from customers such as possibility of change of mind when the final product comes out,  difficult in forming opinions and expressing preference because  of a lack of sense of product features, and lastly biasness on the side of information gatherer due to biasness.

To avoid these, it requires use of appropriate methods of data collections for the target customers such as experiential interviews and user observation. In this age of technological advancement, use of web-based methods for the fuzzy front end can apply (Hauser & Dahan, 2007). Virtual groups participate on new product concept by providing their view and opinions. Many firms are finding such groups and individuals that browse on new product stimuli as rewarding.

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 The second component is product concept development that begins after identification and grouping of customer needs (Hauser & Dahan, 2007). The journey on how to address the needs of the customer commences. Not all ideas generated are considered. Nevertheless, some of these ideas at the start seem unconventional and impractical but are refined and share into viable opportunities (Salgado, Salomon & Mello, 2012).

Different ideation methods have been proposed. They include system approaches, forced relationships, incentive compatible ideation, brainstorming, varied perspectives, morphological analysis, and archival analysis. For instance, in brainstorming, members are at liberty to generate their ideas regardless whether they are good or unrealistic.

 The third component is concept testing. This is also a critical step in the process of new product development process. At this stage, the new products concepts are screened as potential customers use qualitative and quantitative research methods (Hauser & Dahan, 2007). During this process, it is also critical to carry out evaluations by asking oneself whether indeed the idea or concept is important to the consumer. Other attributes to evaluate are the purchase interest of the customers, dissatisfaction with the available products help to prioritize ideas for further testing, and funding.

The concept is defined in the form of a promise to the consumers that indeed the firm understands the relevant needs of the customers (Hauser & Dahan, 2007). It also provides a proof on how the company is prepared to address the needs of the consumers in a better way than any other (Hauser & Dahan, 2007). It is also important to provide an emotional or rational reason why the customer should try the company product, definition, and communication of the concepts core benefit proposition (CBP).

The concept is evaluated through laboratory test markets (LTMs) and survey research. The prediction need to be highly accurate for the product team to evaluate them and make improvement on them. At this stage, the setting  should be realistic and  concept of marketing such as consideration of marketing mix should be utilized  (Hauser & Dahan, 2007).

For example, advertisement of the concepts such as storyboards as opposed to finished advertising with prototype products should be used. Forecasting should be done as the concept moves through the process. This is because, resources are being utilized and it is important to have an estimate of the profit and revenue potential of the concept early in the process.

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The fourth component also stage is the designing and engineering products (Hauser & Dahan, 2007). This stage ensures that few but highly concepts that are proven viable are designed and engineered in order to meet the needs of the customers at profitable costs (Salgado, Salomon & Mello, 2012). The company cannot afford to design and engineer a concept if they have no value to the customer as well as to the company. The techniques they use to design and engineer products are value Engineering and conjoint analysis.

In conjoint analysis, the team optimizes the quantity or level of attributes or features that will be able to satisfy the customers and at the same time accrue profits to the company (Hauser & Dahan, 2007). For example, a company that produces marker cameras will be interested in knowing the optimal values of all the features that will go into its production such as the megapixel, the size, optimal zoom and the price of the camera when completed. In addition, they may also want to put to consideration situations where customers would make tradeoffs with other features.

Different methods of conjoint models are applicable such as hybrid, newer adaptive and discrete (Hauser & Dahan, 2007). On the other hand, value engineering is the integration of both the firm and customer perspectives when making cost and feasibility tradeoffs- in respect to the product (Hauser & Dahan, 2007). The team should consider the importance customers place on every function that the product performs in relation to the cost of the parts that are contributing to that function.

The underlying principle of value engineering is that the marginal cost of every part of the product need to not to exceed the marginal contribution to customer value. With advancement of new information and communication technologies web based methods for deigning and engineering product concepts have been embraced in most companies (Hauser & Dahan, 2007). Use of web based conjoint analysis is preferred because of the many benefits it offers such as capability to be demonstrated in a contextual manner.

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The last component is the prototype development and testing. The main aim or goal of this stage is evaluating the designed and engineered concepts to make the launch easier. At this stage, various prototypes are developed and then tested. The techniques used for testing automatically generate many solutions on the product concept theme (Hauser & Dahan, 2007).

Furthermore, at this stage, it is also important to test the marketing role by testing multiple designs with customers. Realistic testing is also required at this stage. The NPD team can simulate product acceptance in the marketplace that experiences or is affected by different variables such as sales force presentations, word of mouth, and advertising among other.

As globalization increases, the level of competition is increasing and this has seen decrease in product life cycles in most of the technology intensive industries ( Jou et al. 2010). This means that companies have to produce new products that will be of higher value to the customer to win over the competition. This therefore, forces innovators and thinkers to think about the most flexible ways to manage NPD without compromising on efficiency.

One of the methods of management NPD that companies are using is the Stage—gate processes. However, other avenues of adapting Agile methods for software development and integrating them with others are also underway. Little research on integration of the Agile and stage-gate processes has made it difficult for many companies to try the same because this may affect on their performance.

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 Stage-Gate product innovation systems are one of the methods that many industries rely on. This method is linear in nature and it depends on documentation on fixed set of activities (Sommer, Hedegaard, Dukovska-Popovska & Steger-Jensen, 2015). The method has a series of product development stages and it starts from the generation of idea, the development of the idea, and then implementation phases which is then followed with product launch or the evaluation stage that comes at the end.  

According to Sommer, Hedegaard, Dukovska-Popovska & Steger-Jensen (2015), this method has a number of advantages to the organization. One of the advantages of using this method is that it increases the speed of development. This ensures that the company achieves its objectives within a short period. This increased speed as well cuts the costs incurred as it takes less time to come up with an idea and to take the same through the stages to the final stage of product launch.

The method is also able to produce better quality (Sommer, Hedegaard, Dukovska-Popovska & Steger-Jensen, 2015). Quality is important especially when it comes to the products that consumers want. Quality is a strategy that companies use to achieve a competitive edge over their competitors. Therefore, it is very good method to ensure that high standards of quality are achieved. The other advantage of the method is that it ensures greater discipline and better performance overall compared to other informal development processes (Sommer, Hedegaard, Dukovska-Popovska & Steger-Jensen, 2015).

Using the tool as well decreases iterations, as the entire process is predictable from the commencement to the final product. The method  has been established to help improve performances at the fuzzy front end stage through development processes (Sommer, Hedegaard, Dukovska-Popovska & Steger-Jensen, 2015). Fuzzy from end is set of activities done even before the process of defining requirements specification is over. This stage therefore requires the team to deliberate on what the product should do to meet or satisfy the perceived business needs.

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According to (Grönlund, Sjödin,  & Frishammar, 2010), stage-gate methodologies are known across the world and are mostly used in industries  all over the world to help bring order to chaotic process of product innovation. In a survey carried out, it was found out that 60 percent of those responding NPD functions were in one way or another using Stage – Gate methodology. The methodology coined by Robert Cooper was to help achieve efficiency.

It is therefore both an operational and a conceptual model that helps to move product across all the phases of development (Grönlund, Sjödin & Frishammar, 2010). It achieves effectiveness and efficiency through integrating in a process known as ad-hoc that is lacking in many industries. The gates function as top and go and they as well help to prioritize points for decisions for the future of the project are to be made (Grönlund, Sjödin & Frishammar, 2010).

The functional groups known as gatekeepers are the ones that man them and they help in project evaluation on the basis of business rationale, quality of execution, and quality of action plan. This therefore, indicates the magnitude of scrutiny and gate keeping involved in using the methodology (Grönlund, Sjödin & Frishammar, 2010). All this is done to avoid errors. For instance, the execution must be of high quality. The business rationale is also put to consideration. Understanding the purpose of the business is key to ensure that implementation is done in a good manner to have positive impacts on the project.

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Research has shown that this method is highly appreciated by many industries for its potential to energize and to speed up the new product development initiatives (Grönlund, Sjödin & Frishammar, 2010). Despite, this, there have been criticism from other quarters leveled against using Stage-Gate method. Critics argue that the method is time consuming, and this leads to time wasting (Grönlund, Sjödin & Frishammar, 2010). The time wasted could have been used in a valuable venture.

Others criticism of the method include no provision of focus, it requires that one follows bureaucratic procedures and it restricts learning opportunities (Grönlund, Sjödin & Frishammar, 2010). The bureaucratic procedures are evidenced as the methodology adherse to the process of NPD from start to the final stage. This too is not pleasing and they feel that it should be modified. The restriction of learning opportunity is also a weakness that should be addressed quickly. The method is linear and it does not provide a better platform for other to learn.

 Next generation stage-gate process method has been developed in response to the criticism against this method (Grönlund, Sjödin,  & Frishammar, 2010). The motivation  for developing is for improving efficiency and speeding up of processes through incorporation of fluid stage with fuzzy and series of overlapping or confrontational go decisions. More developments on the method have focused on making it faster, flexible, adaptable, and effective (Grönlund, Sjödin & Frishammar, 2010). Some of the companies that have used State-Gate processes have also begun to accommodate open innovation activities.

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The development in the NPD process demonstrates the importance of proper tools and methodologies to rely on during NPD process. Many companies have utilized stage-Gate method and they have succeeded in their NPD process. The level of speed has increased with the method. Level of efficiency and effectiveness has also increased and these are some of the reasons that still compel firms to rely on the same.

Constructive criticism against the method has also emerged. Nevertheless, instead it is important and constructive to receive criticism so that the inspiration to create a more appealing and active methodology is   reached. The most important thing is that researchers are producing new advanced methods to help improve management of NPD process. Such improvements method makes management of NPD process even more productive and plausible.

As I conclude, new product development process is very important and has to be taken serious if companies are concerned about the future. It is through NPD that companies and industries are able to survive the competition and even manage to achieve a competitive edge. Competition has become high and the only way to avoid the same is to create products that are unique to the market. This process of development must therefore go through different stages to ensure that the final product is of high quality, it meets the expectation of the customer, it also adds value to the customers, and that it has to bring returns to the company.

A venture that the company investments on should have tangible benefits to be of value. In NPD, it is important to understand that it involves different components that that are of great important to the success of the entire process. These components also phases include generation of ideas and opportunities, product concept development, concept setting, design and engineer of the products and lastly, prototype development as well as testing.

Various methods are as well used for management of these processes. Stage-gate is one of the methods that I would use in the project. The method has quite a number of benefits that firms accrue. Even though, the method has some weaknesses, efforts are underway to ensure that the method is improved to offer value to the firm.

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Ale Ebrahim, N, Ahmed, S, & Taha, Z 2010, ‘Critical factors for new product developments in SMEs virtual team’, African Journal of Business Management, vol. 4 no.11, pp. 2247-2257

Grönlund, J., Sjödin, D. R., & Frishammar, J. (2010). Open Innovation and the Stage-Gate Process: A revised model for new product development. California Management Review, 52(3), 106-131.

Hauser, J, & Dahan, R 2007, ‘New product development. Retrieved from: er%20on%20New%20Products.pdf

Jou, Y. T., Chen, C. H„ Hwang, C. H., Lin, W. T., and Huang, S. J 2010, ‘A study on the improvements of new product development procedure performance: An application of      design for Six Sigma in a semiconductor equipment manufacturer’, International Journal of Production Research, vol. 48 no. 19, pp.573-5591.

Salgado, E, Salomon, V, & Mello, C 2012, ‘Analytic hierarchy prioritisation of new product development activities for electronics manufacturing’, International Journal Of  Production Research, 50, 17, pp. 4860-4866, Business Source Complete, EBSCOhost,         viewed 27 November 2015.

Sommer, A, Hedegaard, C, Dukovska-Popovska, I, & Steger-Jensen, K 2015, ‘Improved Product Development Performance through Agile/Stage-Gate Hybrids’, Research Technology Management, 58, 1, pp. 34-44, Business Source Complete, EBSCOhost, viewed 27 November 2015.

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Balanced Scorecard

Balanced Scorecard
Balanced Scorecard

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Balanced Scorecard


The balanced scorecard is the component that is utilized for execution estimation to drive the general execution of the association. The usage of adjusted scorecard inside of an undertaking has been a vital advancement in a few nations around the globe. The utilization of adjusted scorecard picked up acknowledgment in the UK in light of the always showing signs of change business scene. An adjusted scorecard is the component that is utilized for execution estimation to drive the general execution of the association.

The idea of execution estimation was initially utilized by David Norton and Robert Kaplan. The utilization of adjusted scorecard picked up acknowledgment in the UK because of the regularly changing business scene (Wu, 2012). This paper explains the adequacy of executing the balanced scorecard inside of an association and how it can be utilized to produce new systems as apparent in administration accuracy.

The utilization of balanced scorecard bolsters the era of new systems for the firm by supporting the budgetary and operational components of the organization. Every one of the suppositions connected with bookkeeping, learning and practice and additionally moral practices of the UK organizations is likewise broke down.

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Ethical operations

A cutting edge environment requests that an association ought to put more accentuation on the long haul additions to upgrade their manageability to ensure that they move with the moving technological world. In this way, the business needs to concentrate on components that will promise higher money related execution of the business in the long haul premise. For long haul money related execution of any association, measures of value, efficiency, piece of the overall industry, worker fulfillment, and consumer loyalty should be exceptionally considered.

This structures the premise why Norton and Kaplan thought of the idea of adjusted scorecard to investigate the business execution in the viewpoint of money related, clients, inside procedure to ensure that all the best is attained. Once ethics program is employed for use in most of the UK companies operations will be highly improved and attaining of best performances will no longer been issue again. All activities will be run to the benefit of the poor and the rich in the society.  

Following of the right corporate governance will guarantee ethic to be portrayed among many leader and the firm performance will drastically be improved accordingly. Employing the use of the right social responsibilities will ensure that balanced scorecard has been well implemented in the companies and financial matters will be dealt with accordingly. An association can be driven towards its unmistakably set objective through the utilization of BSC whereby; this should most ideal be through some different BSC parts, which include: estimation framework, vital administration framework, and the specialized instrument.

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BSC is utilized for imparting the required methodology all through the entire association from the pioneers to the laborers. Additionally, BSC is likewise appropriate in adjusting the individual objectives of the representatives with general business technique. Additionally, BSC is utilized as a part of adjusting and recognizing key activities that are required for use by the association with its main goal towards accomplishing its objective (Cox, 2014). There exist diverse systems in BSC that are connected regarding execution and methodology.

These systems incorporate learning and development, which help any person’s interest in learning more about the operation is taking place to grasp the concept very fast. The client viewpoint can be adjusted by guaranteeing that the representatives are prepared in the best way to serve clients for them to be fulfilled by the association’s administrations. Then again, learning and development viewpoint can be taken care of by guaranteeing that there is a lessening of holding up time in the crisis room is looked upon (Baker, 2010).

Enhancing use administrations can be taken care of by the inner procedure point of view while money related viewpoint can be taken care of by guaranteeing that all funds of the association are very much controlled. Especially, the usage of adjusted scorecard has been utilized as an administration apparatus as a part of the created nations than creating nations. In such manner, the creating nations have likewise proceeded with acknowledge the utilization of adjusted scorecard as their business administration device with the point of understanding its advantages (Tuan, 2010).

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Preparation appraisal is one of the numerous standards of BSC that guarantees that the association’s authority is conferred as far as contribution, serving, and imparting where vital and seeing all that is required of them (Phillips, 2010) On the off chance that every one of these duties must be well implemented in making sure that all counting and operation are run well in then companies present in the UK.

The vital arrangement of any association is normally very much characterized under the use of balanced scorecard to actualize what is the goal, mission and all the vision set aside for the company to achieve (Brookes and Grint, 2015).

Leadership is essential in the execution and the general accomplishment of BSC. An association needs to pick up duty of initiative for them to proceed with the usage of BSC. The leaders of the considerable number of associations need to well take part in ensuring that they run their thoughts and exercises as required in their associations (Rohm et al , 2013). There is need of investigation of how then BSC operations are being transacted in ten companies to make operations work out as required. Leaders are mandated with the duty of ensuring that the right codes of ethics are incorporated in the company operations to yield to better results in the near future (Wu, 2012).

Leaders should be much concerned of how operations are taking place to cater for the needs of all in then society. Every one of the pioneers needs to plainly comprehend BSC; since, they have the command of teaching others on what should be finished with respect to BSC idea (Brookes and Grint, 2015). This will be exceptionally valuable for them in accomplishing every one of the association’s particular exhibitions, measures and increase all the backing and duty that they require to accomplish every one of their objectives.

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Most leaders concur that BSC offers associations to manufacture some assistance with long term maintainability. Associations need to manufacture long haul maintainability that requires enough time, responsibility, and enough assets that will bolster future exercises in the association (Brookes and Grint, 2015). The procedure of executing BSC is including, sets aside time to be an expert; henceforth, a considerable measure of tolerance is required particularly from the pioneers.

Availability appraisal is the first BSC model that involves the ID of the association’s necessities, affirming authority’s duty and all assets that are accessible (Niven, 2014). Arranging guarantees that pioneers who take an interest in the BSC group allot methodologies to BSC and complete the audit of mission that the associations need to accomplish is effective (Brookes and Grint, 2015).

Then again, specialized execution guarantees that every one of the methodologies goes into the association’s framework through programming, trainings, information solidification standards, and even through building scorecards. Association’s execution guarantees that the BSC procedure is all around actualized and correspondence is very much encouraged in the associations. What’s more, operations executed in the association guarantees that there is a high information overhaul, examination and consistent reporting of data where essential for the right changes to be finished concerning the BSC model (Pearson, 2013).

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Challenges of BSC implementation

There are many challenges that are currently associated with the balanced scorecard operations over the years. Usage of BSC is confronted with different difficulties like the few measures that are placed set up per every point of view (Bigliardi & Bottani, 2010). For a BSC being effective, it needs to incorporate a blend of results and execution drivers. On the off chance that there are few measures for each point of view in the middle of money related and non-monetary markers, the association is liable to fall flat in BSC execution (Weng, 2011).

Whenever an organisation receives high measure of resource usage, there might be a big problem associated with how bets the operations will be transacted. The people who initiated the use of balanced scorecard if not present in its implementation the company there tend to be a very big challenge (Diamantopoulos et al, 2014). It is due to the fact that the ones in the company are not well informed onh0w to use the balanced scorecard and guidance is needed in such a situation.

The environment under which the balanced scorecard is operated is a major challenge that ought to be well coordinated to avoid problems from occurring (Hoque, 2014). With a specific end goal to understand the adequacy of BSC, all the association in the UK needs to execute an exhaustive examination of how BSC will be actualized and utilized for their prosperity as a part of the association. This procedure is entirely includes, and individuals expected to complete the examination are not very many in China, along these lines turning into a major test to BSC execution (Gazzard, Hill & Anceau, 2011).

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Methodological assumptions for implementing accounting knowledge and practice

The philosophy embraced in this paper is the contextual analysis in view of the UK organizations. Throughout the years, the contextual analysis, examination has been utilized by the greater part of the scientists to give an inside and out examination that contains; oral, archival, and auxiliary based artifact of specific marvels on bookkeeping matters (Husain & Farooq, 2013). The data got from the contextual investigation involves the observational and individual information accumulation instruments of the bookkeeping learning and practice.

The contextual analysis, exploration gives a precise method for watching occasions, information accumulation and data investigation of all bookkeeping practice and learning (Karpagam & Suganthi, 2012). There are three sorts of contextual analyses that can be led with each having its own determination. To start with, there is the informative contextual analysis that is significantly utilized as a part of leading easygoing examinations of bookkeeping research and practice.

The relative budgetary position of most UK organizations before the execution of BSC is generally low (Kootanaee, Kootanaee, Hoseinian & Talari, 2013). For the second quarter after BSC execution, the money related state of most UK organizations enhanced massively. This development is still obvious in the second from last quarter and a short time later as can be seen from the incomes and the benefits. Such development can be occurring; subsequent to, the new technique utilized of BSC is effectively running. A ton of financial specialists is getting the chance to expand the estimation of their riches (Maxwell & José Dionísio, 2011).

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UK organization’s operations

Prior to the usage of adjusted scorecard in the UK, organizations were having issues with different venture choices that appear not to shoulder natural products. The issue could be going on because of incorrect venture choices that utilized by the organization throughout the years. This may have prompted the miscount of the normal proficiency of their operations, prompting the disappointment of their methodologies (Narayanamma & Sukanya, 2013). The operations of the board individuals are not successful, prompting pointless activities among the representatives of the organization.

Inside of the beginning quarter of the operations of most UK organizations did not yield much natural product, prompting a few missed procedures. In any case, things changed with time when the adjusted scorecard was actualized by the organizations (Northcott & Tuivaiti, 2012).

The missed systems by most organizations, enormously meddled with the operation and in addition the general capacity of the organization to understand its destinations. Then again, the representative vicinity in many organizations was not that noteworthy and this demonstrated there was the need to utilize balanced score card (Price et al, 2013).

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For the long haul budgetary execution of any association, measures of value, efficiency, piece of the pie, worker fulfillment, and consumer loyalty should be exceedingly considered. The balanced scorecard is the system that is utilized for execution estimation to drive the general execution of the association. The usage of adjusted scorecard inside of the association is extremely critical as it accomplishes money related and operational results inside of the association. The utilization of balanced scorecard can be utilized to create new techniques for the firm by supporting the money related and operational instruments of the organization.


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Uses of Porter five forces

Uses of Porter five forces
Uses of Porter five forces

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Uses of Porter five forces


Porter five forces model helps the entrepreneur to look at the type of work that is happening and make a sound decision concerning where the power of the business lies in their organisation. Once an entrepreneur has identified the source of strength in the industry he can venture in the right direction. An entrepreneur is better positioned using Porter five forces as he will identify the competition taking place in the market and identify what is expected of him to emerge more competitive (Cheng, 2013).

Identification of where the power of the business lies helps an entrepreneur in improving his situations of weakness, and all wrong steps that could have led the business in the undesired direction are avoided accordingly. When an entrepreneur wants to know if a business is profitable as he perceived, the use of Porter five forces can be of great use in gauging whether products and services produced are of better quality. The balance of power can be well understood from the use of Porter five forces by an upcoming entrepreneur (Dobbs, 2014). This paper explains how an entrepreneur can use the porter five forces and the disadvantages of using them as well.

Figure 1: A Graphical Representation of Porters Five Forces. Source: (Dobbs, 2014)

The bargaining power of the suppliers

Whenever and entrepreneur uses Porter five forces, he gets to understand better about the five forces that make a business more competitive as expected. An entrepreneur has to access how easy it is for business suppliers to drive up prices. One of the most important aspects of the luxury goods industry is suppliers. They are the business entities that take part in the manufacture of different products sold by various industries; hence, the entrepreneur should consider them accordingly (Dobbs, 2012).

For these products to be valued, it is important that they maintain a very high build quality, remain aesthetically appealing and most importantly have an element of uniqueness. An entrepreneur ought to ensure that suppliers have the ability to produce goods that meet such specifications and at the same time do them at a cost low enough to leave room for profit. Whenever suppliers are few, they will have the courage that they are in high demand, and they will tend to increase their bargaining power (Grigore, 2014). However, when suppliers are many the entrepreneur will be sure that their bargaining power is very low in the market.

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The Threat of Substitute Products

An entrepreneur has to know that substitute products accessible to the market are those which customers can use in place of what a particular brand has to offer. The middle and the high-income population of the market seeks out goods that help to portray their status and wealth. As such the demand for products like high-end electronics, designer perfumes and also designer clothes is only bound to remain (Kirchner, 2012). An entrepreneur ought to know that a company producing products that are found in other companies will reduce the threat of substitutes and make more sales.

Demand for accessing items will, therefore, remain sustained for a long time as the middle income to high-income segments of the population will maintain the need to display their affluence through these products. The majority of customers are youths who are concerned with luxury goods; hence, an entrepreneur ought to focus more on internet marketing to attract the youths who are active on social networking sites.

An entrepreneur should use the porter five forces to develop an attractive, and an appealing website that can help the youths to sell their product by taking advantage of the internet selling platforms (Sutherland, 2014). The use of porter five forces will make the entrepreneur ensure that the given company continues developing unique brands that are appealing to the youths and sell them in small quantities that are affordable to the youths.

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The Customers’ Bargaining Power

The entrepreneurs should make use of the Porter five forces analysis to ensure that the customer bargain power is reduced.  An activity like this will mostly take place where major companies employ the mergers and acquisition program. They will end up merging with smaller companies and make them more powerful than before. After merging and acquisitions of various companies has taken, place customers bargaining power will be reduced and the formed company will now have the power to determine prices of different goods in the market (Wilson, 2015).

The company will now determine the market price whereby; the customers will have no say rather than purchasing goods and services at the given price. The competition will be reduced to such a level as the competitors will have now emerged; hence, work towards achieving the same goal of success. Any entrepreneur should not let the customers determine the prices in the market, but he ought to struggle to be the determinant through reducing the competition taking place.  When the bargaining power of the customers is very high, then it will imply that the industry is less attractive, and this should not be the case.

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The Competitive Rivalry within the industry

The fact that there is a group of about 10 to 15 companies that have established themselves in the accessible market is a clear indication that this industry is subject to a very high intensity of the competitive rivalry between the players. An entrepreneur must ensure that his company is involved in the supply of certain products is keen to put its best foot forward to reduce the competition from its rivalry. Different companies, however, have different strengths in different aspects of the accessible market.

A well enticing entrepreneur will have a lot of success in the American market; since, it is spreading its tentacles to Asian markets such as Japan and China whose middle-high income populations are increasing fast. An entrepreneur ought to ensure that his company has the considerable market to emerge best in the supply of goods and services that are in high demand in the market (Alrawashdeh, 2013). An entrepreneur must take note of the upcoming opportunities through the use of Porter five forces in the market to reduce the competition rivalry that is highly evident.

Production of quality products helps a company to have lower competition rivalry. People will tend to love products that are durable and of high quality; hence, such an organisation will emerge successful in with fewer competitors. If a company makes many products and services that cater to the needs of its consumers at any given time, it will be more competitive due to its reliability.

The cost of products also determines if a company will be more competitive in its production whereby; if its prices are too high such that people are struggling to afford them, the customer will be very few (Fitzpatrick, Anh-Nguyen & Cayan, 2015). The entrepreneur ought to consider some potential factors that will make the industry more competitive like; having a powerful competitive strategy and a high degree of transparency.

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The Threat of New Entrants

An entrepreneur ought to make use of the porter five forces to ensure that the company invests in millions of dollars on various aspects of the operation that will be more productive in the very end. At the same time, the company needs to develop brand recognition in the market  for better recognition (Prasad, 2010). While the former is difficult to achieve, the latter is even more complicated given its abstract and intangible nature of the task to block new entrants in the industry.

Middle to high-income earners will be attracted by brands that are perceived to be more famous and attain better quality. The only way that a new entrant can achieve fame and market access of established names is by having a virtually unlimited financial budget. An entrepreneur ought to use porter five forces analysis to motivate smaller players are increasingly finding it possible to circumvent these barriers and instead employ web-based platforms such as Facebook and Amazon sell their products (Rajasekar & Raee, 2013).

The presence of established companies controlling the larger market shares the possibility of others entering the market is very minimal; since, the established firms will fight back to protect their market share. An entrepreneur should struggle to ensure that the industry has a higher threat to the entrant to reduce the completion and many people from entering the industry anyhow.

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The limitations of using the Porter five forces

Porter five forces were established in a more different environment as compared to the one that the industries are operating in today. In the current world, the pace of change is more rapid, and this fact affects the use of the porter five forces. The porter five forces is a model that provides the entrepreneur with only a snapshot of what is expected yet, there is still more that he does not know.

The use of porter five forces makes it more difficult for an entrepreneur to define the industry that he is handling and make the better specialization of the outcome results. An entrepreneur should know that all the non-market forces that are taking place are not considered in the use of porter five forces. Porter five forces in most case are not well applicable in for the analysis of simple market structure rather they only cater for big markets alone.

It is prudent for an entrepreneur to know that porter five forces majors its argument on competition matter, and this shows that it is narrow not much wide as required (McCann, 2011).  An entrepreneur might find it hard in analysing simple markets using the porter five forces as it does not cater for smaller markets. Technology is changing too fast to extend that shopping and marketing are done online; hence, an entrepreneur must perfect this to accommodate everyone with his or her needs and capture the market.

An entrepreneur should be aware that the use of porter five forces in the current world has contributed to only very few market structures remaining static as they were before. The use of porter five forces has made an entrepreneur learn that there are needs required in changing radically to suit the market position of any given company. The use of porter five forces has led to technology, reducing the length of a time of any given product to reach the market. Most of the products get to the market before the maturity time is near to cater for the needs of the fastest growing population.

Technology that is used in different industries makes these products get to the market immaturely, thus the increased cases of disease like cancer among others. An entrepreneur should be aware that the use of porter five forces is contributing to technology that affects the production of goods in industries (McMillan, 2010). An entrepreneur must know that use of porter five forces has increased the burden of information as the response of the organization is done for more than just the market forces.

There is a high need for all organizations to respond to the country’s legislation, corporate ethics and all the required social responsibilities to cater for the needs of all in the society.  The use of porter five forces makes it more difficult to incorporate all the required implication of strategic alliances like sharing of skills as well as responding to given opportunities.

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An entrepreneur should be aware that the use of porter five forces has reduced the rate of change in most industries leading to changes in the stability of the market structure and industry experiences. Regular updates are necessary in making sure that the knowledge obtained through the use of porter five forces is transferred to other generations, failure to which it will be eroded completely.

An entrepreneur ought to be aware of the fact that the use of porter five forces has led to difficulties of integrating complexities that are evident in the market today with the use of product groups of organization and various interrelations taking place (Ortega, Jalón, ,M.Luisa & Menéndez, 2014). Also, an entrepreneur should be aware that if his organization defines the market segment to be very slow, then some of the key elements of prosperity might be overlooked.

The legislation that exist among buyers and sellers ought to be looked accordingly in making sure that all activities are well coordinated. The use of porter five forces has changed the way transactions between sellers and buyer were transacted to extend that most of the communications and transaction are done online.

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 When an entrepreneur wants to know if a business is profitable as he perceived, the use of porter five forces can be of great use in gauging whether products and services produced are of better quality. This paper explains how an entrepreneur can use the porter five forces and the disadvantages of using them as well. Demand for accessing items will, therefore, remain sustained for a long time as the middle income to high-income segments of the population will maintain the need to display their affluence through these products. The merged companies will now determine the market price whereby; the customers will have no say rather than purchasing goods and services at the given price.


Alrawashdeh, R. 2013, “The Competitiveness of Jordan Phosphate Mines Company (JPMC) Using Porter Five Forces Analysis”, International Journal of Economics and Finance, vol. 5, no. 1, pp. 191-200.

Cheng, D.S.Y. 2013, “Analyze the Hotel Industry in Porter Five Competitive Forces”, Journal of Global Business Management, vol. 9, no. 3, pp. 52-57.

Dobbs, M.E. 2012, “Porter’s Five Forces in Practice: Templates for Firm and Case Analysis”, Competition Forum, vol. 10, no. 1, pp. 22-33.

Dobbs, M.E. 2014, “Guidelines for applying Porter’s five forces framework: a set of industry analysis templates”, Competitiveness Review, vol. 24, no. 1, pp. 32-45.

Fitzpatrick, B.D., Anh Nguyen, Q.Q. & Cayan, Z. 2015, “An Upgrade To Competitive Corporate Analysis: Creation Of A “Personal Finance Platform” To Strengthen Porter’s Five Competitive Forces Model In Utilizing”, Journal of Business & Economics Research (Online), vol. 13, no. 1, pp. 54-n/a.

Grigore, A. 2014, “Book Publishing Business in Romania – An Analysis from the Perspective of Porter’s Five Force Model”, Revista de Management Comparat International, vol. 15, no. 1, pp. 31-47.

Kirchner, M. 2012, “Porter’s Five Forces in the Finishing Industry”, Products Finishing, vol. 76, no. 12, pp. 52-53.

McCann, J. 2011, “China’s Textile and Apparel Industry and the Global Market: Five Competitive Forces”, S.A.M.Advanced Management Journal, vol. 76, no. 1, pp. 33-42,54,2.

McMillan, C. 2010, “Five competitive forces of effective leadership and innovation”, The Journal of business strategy, vol. 31, no. 1, pp. 11-22.

Ortega, A.G., Jalón, ,M.Luisa Delgado & Menéndez, J.Á.R. 2014, “A strategic analysis of collective urban transport in Spain using the Five Forces Model/Un análisis estratégico de transporte urbano colectivo en España usando el modelo de las Cinco Fuerzas”, Investigaciones Europeas de Direccion y Economia de la Empresa, vol. 20, no. 1, pp. 5-15

Prasad, A. 2010, “Strategy as “Inferior” Choice: A Re-interpretation of Porter’s “What is Strategy?””, Journal of Management Research, vol. 10, no. 1, pp. 15-24.

Rajasekar, J. & Raee, M.A. 2013, “An analysis of the telecommunication industry in the Sultanate of Oman using Michael Porter’s competitive strategy model”, Competitiveness Review, vol. 23, no. 3, pp. 234-259.

Sutherland, E. 2014, “Lobbying and litigation in telecommunications markets – reapplying Porter’s five forces”, Info : the Journal of Policy, Regulation and Strategy for Telecommunications, Information and Media, vol. 16, no. 5, pp. 1.

Wilson, R.C. 2015, “Mayhem: A Hands-on Case Playing Activity for Teaching Porter’s Five Forces to Undergraduate Business Students”, Small Business Institute Journal, vol. 11, no. 2, pp. 48-59

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