CUSTOMER LOYALTY PROGRAMS AND ITS EFFECT ON BUSINESS COMPETITIVENESS Rationale Businesses that use customer loyalty programs have become more successful than those that do not embrace it. The reason behind this study is to discover why companies were so successful with their customer loyalty programs and how it was instrumental in maintaining the loyalty of the consumer. The theory behind the concept is relationship marketing, which has acted as a catalyst for business growth. The background of the research title deals with the highly competitive market where the businesses have to endure and uphold their competitive advantage to stay ahead or survive the downfall when appropriate. The unrestricted majors are taken, and a significant amount of money and capital is allocated to luring clients to bring revenue to the corporation. It is challenging to enjoy a competitive edge in a sector or industry characterized by many competitors. It is important to understand the significance of giving offers and discounts to clients and its merits to make strategic decisions. Corporations provide many such schemes for their clients to retain and…
Quality Management In the article, the authors present the quality assurance matrix (QAM), and quality control story (QC) as effective methods of approaching, analyzing, and tackling quality control issues in the context of the automotive industry. The quality control matrix is presented as a controlled and standardized process that is effective in analyzing actual or potential concerns in quality, their criticality to the satisfaction of customers. It further provides an evaluation of the inspection and manufacturing process, assessing its integrity against the graveness of the actual or potential quality concern. For example, the authors present this model in a vehicle axle manufacturing process for quality control – the model analyses possible concerns as identified, the impact on the customer. On the other hand, the quality control story (QM) has been presented as a problem-solving approach. The authors present the quality control story as an avenue for post-QAM performance and process enhancement tool – it ensures a comprehensive approach to quality control and addressees efficiency, conciseness, and manner. The quality control method, in this context, is used to identify possible shortcomings…
Loss of laptops in business Most businesses are worth to worry about the securities in their laptops and the security as well. Most of the business laptops are vulnerable to loss and theft due to weak security systems.48 of NASA laptop are stolen from the American space agency that contains control codes of the International Space Station ISS appears to be jeopardy, but the NASA speaks with the Security News Daily that it’s a big problem to losing a laptop even when governing small business. NASA inspector general then says one percent of the portable device is encrypted and leaving the other 99 percent agency laptops unprotected, thus string employees’ data and also the government secrets and third party intellectual property in danger. Loss of laptops in business is figured as big nightmare insecurity, thus making the encryption a big challenge. NASA is an excellent example in the encryption .encryption can be on a laptop, file, folder, or the drive that leaves a significant error to the user’s discretion. Managed encryption is a better idea and more costly for enterprise…
Potter’s five forces model to analyze the position of the Twitter Company Question 1 Twitter is one of the top-ten most popular websites in the world today. This paper will use Potter’s five forces model to analyze the position of the U.S. Company. First, during the last decade, the social media industry has experienced high competition. However, the industry is continuously undergoing technical advancements and the addition of new features. In effect, many of the relatively small companies face intense pressure to enter the industry. Second, the threat of new entrants is low. Existing players in the industry, such as Twitter, have made their brand more attractive by maintaining a vibrant image. Third, the bargaining power of suppliers in the social media industry is high at the moment. The number of suppliers of technical support Twitter uses, such as IBM, is limited. Therefore, it narrows the choices Twitter has regarding suppliers. Fourth, the buyers, specifically the use of the platform, have high bargaining power. In effect, Twitter is in no position to raise the revenues gained from advertisements. Lastly, there…
Did your team develop a cohesive business strategy before embarking on completing the entries for your decision rounds? How well developed was that strategy? Yes, my team developed a strategy for our company before we started making and entering details of our decisions in year 11. However, the plan was not well developed or cohesive and resulted in a few mistakes being made with affected our scores. My team also did not hold sufficient meetings due to the separation of time zones among the members of our team. I was still familiarizing myself with the BSG, and I was therefore not fully comprehending how the plan would work, which I believe was an issue that affected most of the team members. We were not sure of how to use it, and we, therefore, made mistakes. I had only read the players guide once, and I was still trying to understand how it all works. For the next round, we were well prepared and had a well-developed strategy which we hope will change our outcome. Did your team focus on ensuring…
The business law course Hi everyone, The business law course has provided me with the basics of laws that govern business and has made me a more informed consumer and citizen. I have learned several things that I will highlight in this post. To begin with, I learned that one could sue for anything, but that does not mean that the case has any real merit. Second, the process of going through the court system is expensive and time-consuming. A case can take months and even years for it be heard and even more time before a conclusion is reached plus the exorbitant fees charged by lawyers. Thirdly, I learnt that not all contracts are enforceable. For example, a contract between two parties that are doing illegal transactions. Fourthly, contracts are negotiable, which made me realize that I have got more power as a consumer that I thought. In regards to contracts, I have learned that it is crucial to know what you are getting yourself into before signing are accepting the terms of the agreement. The course has made…
Deanna M. Mulligan, CEO of Guardian Life Insurance Company of America Introduction This paper focuses on Deanna M. Mulligan, who is the current CEO of Guardian Life Insurance Company of America. She is a great leader with a rich professional background. She has served in several leadership positions in different organizations and associations. Before being appointed to the position of CEO, she served as the president and the Chief Operations Officer (COO). Deanna joined the company as the executive vice-president, where she was responsible for formulating and guiding business strategy aimed at business growth and competitiveness in the insurance markets (Guardian, 2020). Before joining Guardian Life Insurance Company, Deanna was the principal at McKinsey and Company as well as holding an executive position at both AXA Financials and the New York Life Insurance Company. Deanna Mulligan is an influential leader who has made the company a market leader in the insurance industry. Accomplishments of the CEO She is a member of the Board of directors for companies in the industry and also in the community. Deanna is a member…
Acronis Presentation Review: Disaster Recovery Best Practices Mark Jameson, the general director of Acronis Disaster Recovery, gives a highlight of disaster discovery challenges, business continuity, and disaster recovery processes. He also explains the best practices in disaster recovery and how Acronis Disaster Recovery has helped more than 50 million beneficiaries through such methods. Disaster recovery challenges faced majorly require us to address questions such as when the disaster will occur? What was the real cause of the failure? And possible impacts and cost of a disaster to an organization. Businesses can build their disaster recovery plans, but these may be very expensive and unreliable. They may also face the challenge of limited resources to develop a sophisticated but effective plan. With this era of digitalization, discovery processes must address the issue of privacy, offer protection, and secure information. To solve disaster recovery challenges, we require a Disaster Recovery Plan (DRP).the plan incorporates information technology recovery, having an alternative site, data back up, and off-site replication. A DRP must align itself with the Business Continuity Plan of an organization. Business continuity…
What does “breach assume” mean to a business? It means you’ve accepted the fact that an attack is going to succeed no matter what, and you’re going to build our defenses accordingly. Assuming the role of Chief Information Security Officer (CISO), what measures would you lead, including technology and policies, to ensure that your company was in a stable breach assume posture? This means assuming that an attacker has compromised the main systems and may have full administrative rights on the unscoped network, so there should be segregation in controls between the zones. Separating authentication domains, internal firewalls, and divergent anti-malware solutions is a good idea to ensure that whatever broke into the outside network won’t use the same methods to break into the scoped network. The key is rigid segregation to ensure that failures can’t cascade through interconnected systems into the systems in the scope. . Since I am expecting attackers on our networks, I want to know what they’re doing and then jump on them as soon as possible. This means leaning harder on tools like threat intelligence,…
Drivers of Equity Prices and Changes in their Valuations The equity of a company (also known as stock or share) is a financial mechanism that characterises ownership within a corporation and signifies a balanced claim on its earnings and assets. Earnings being what the company makes in profit and assets being what the company possesses. Equity prices vary daily through market forces, i.e. where buyer demand is met by seller supply. Unfortunately, there is no exact explanation that defines precisely the behaviour of equity prices. In understanding the behaviour of these prices, present research typically creates a portfolio based on the company’s characteristics, the measure of value or previous stock returns. Due to the extensive number of factors affecting stock price changes, there is a need to have clarity regarding if any given element has unique information. This information helps us understand the changes in stock prices. The factors of the stock market are the ones that govern changes in equity prices and expected returns (Cochrane, 2011). Therefore, these factors are the key to understanding changes in equity valuations.…