In today’s world, many companies are involved in activities aimed at addressing relevant environmental issues as part of their corporate social responsibility initiatives. However, some ventures conduct their businesses while using solely green marketing as a mechanism to operate by reducing numerous negative impacts on the environment. One of the factors affecting the sustainability of fashion brands negatively is competition. Some businesses in this sector use radically distinctive development models, which allows them to keep the intermittent interest of the target market. However, without having a reputable history, this is difficult for companies to overcome the competitive barrier. As a result, high competition in such an environment affects the sustainability of brands and can often be an obstacle. The inability to withstand pressure from rivals, in turn, is directly associated with falling profits and, consequently, financial challenges. One of the trends in the fashion industry is the focus on environmental Continue reading
Business Analysis
10 Important Theoretical Concepts in Business Analytics
Making informed choices in the workplace is of great importance since strong data analysis and decision-making skills enable teams to maximize the chances of success. In organizational contexts, those involved in making important decisions should be aware of different methods helping to analyze data sets and make accurate predictions. This article is aimed at analyzing 10 important theoretical concepts in business analytics and discussing their applications in data analysis and decision-making. Ten concepts discussed below facilitate the process of decision-making in business environments. The concepts are relevant to the workplace since they can be utilized to support strategy development, inform inventory and investment choices, establish effective internal policies, and maximize profits. 1. Probability The concept of probability can be justly listed among the terms having numerous applications in decision-making in everyday and professional problems. Based on class activities, the probability is basically the chance that a specific event will happen, Continue reading
Case Study: Critical Success Factors of Tesco
Tesco PLC is a British merchandise retailer that was founded in 1919 by Jack Cohen. It has operations in 12 countries around the world. It is the largest retailer in the U.K. with more than 530,000 employees. Currently, Tesco serves more than 75 million customers every week. Tesco is present in Malaysia, India, Czech Republic, Hungary, Ireland, Poland, and China. The retailer is the third largest in the world in terms of revenues and a market capitalization of more than £20.5 billion in 2013. After its founding, Tesco operated for many years selling grocery only in the U.K. Today, the multinational retailer has diversified its operations into other areas that include electronics, furniture, software, clothing, books, internet services, and financial services. The company has good online presence and makes great sales through its website. The success of Tesco has been studied for a very long time because of its size and Continue reading
History and Background of Mother Dairy
“MotherDairy” is one among the single largest brands of milk in India as well as in Asia, marketing about 2.2 million litres of milk per day. Mother Dairy commands 40% market share in the organized sector in and around Delhi, primarily because of consistent quality and service – whatever be the crisis – floods, transport-strike, curfew etc. Mother Dairy, Patparganj, Delhi, is presently manufacturing & selling around 8.5 lakh litres of tonned milk through bulk vending shops. Mother Dairy, Delhi is an IS/ISO – 9001:2000 and Hazard Analysis Critical Control Points (HACCP) and IS-14001:1996 Envoirnment Management System (EMS) Certified organisation. Mother Dairy was the first Dairy in the country to implement ISO-14031 (Envoirnment Performance Evaluation) project. The comany’s Quality Assurance Laboratory is ISO/IEC- 17025:1999 certified by NABL (National Accreditation Board for Testing and Calibration Laboratory), Department of Science & Technology, India. This provides assurance to the consumer in respect of Quality Continue reading
Revenue Management in the Hospitality Industry
The revenue management refers to the application of business analytics methods to the consumer behavior at the micro-level and optimizes the product type, price and availability so that the revenue of the organization is maximized. The primary aim of revenue management is to assure that the right product is sold at the right moment to the right customer. The analytical methods are applied to understand the perception of the customers regarding the product value and using it to align with the price, availability and the placement of the product service. The business organization often faces questions regarding different consumer product such as how to sell them and when to sell them. The revenue management uses the data driven and analytical methods to maximize the organization’s revenue. The revenue management encompasses data mining and operational research so that the customer behavior can be identified and associated with the sales procedure of Continue reading