An Example Of A Service Firm - 930 Words

Option B B. Give an example of a service firm that uses service recovery to compensate for overbooking and discuss how the firm compensates American Airlines frees capacity in overbooked flights by offering customers compensation. I personally had this experience when I was at the Louis Armstrong Airport in the city of New Orleans. The flight had 6 passengers that could not be seated and the airline offered $350 to each passenger that was willing to give up his or her seat and a printed ticket for the next day’s flight. Additionally to this, the passenger could stay, at no charge, at a nearby hotel. E. Discuss mental impalpability and provide an example of a strategy in advertising used by a firm to overcome mental impalpability. Mental impalpability is the way some services are â€Å"complex, multidimensional or novel† that makes it difficult for some customers to understand the benefits and the experience of paying for that service (Lovelock and Wirtz, 2014). In order for a firm to overcome mental impalpability, case history episode can be championed as an advertising strategy. LSU uses the case of Shaquille O’Neal to overcome the impalpability of getting a college degree, instead of jumping right away from high school to work. O’Neal was a professional basketball player that only after 30 minutes of getting in the NBA, he spent his first million dollar. The story that they use is that by pursuing a degree (in this case a finance degree) O’Neal could better manage hisShow MoreRelatedInteractive And Engagement Has Impacted Marketing Management1551 Wo rds   |  7 Pagescustomers to locate firms. Also the supply chain focuses on creating value through interactive and engagement with other parties within the supply chain and the end user. Facilitating customer data is based on firms use customer data to identify them, tailor particular information to them etc. Main Distribution and Supply Chain Distribution The web 2.0 and other technology advances now enabled firms to find a wide variety of search engines to find sellers, services, people, locationRead MoreA Monopoly is One Supplier and Numerous Buyers899 Words   |  4 PagesMonopoly is where there is only one supplier and there are numerous buyers, where it means that monopoly firms are the only firm in the market, which it means that they control the whole market. In monopoly, as there are no other firms or competitors it means that there are no competition. An example of monopoly is PLN, where it is the only electricity business in Indonesia, where there are no other competitors with PLN. While perfect market is where there are both numerous of suppliers and buyersRead MoreEconomics1444 Words   |  6 Pagesmeans the resources are not used in the best distribution by firms or organizations. An ETS is executed when the environment has been polluted and the government intervenes in order to control the pollution by providing econo mic encouragements towards the firms and organizations to reduce the amount of pollution emitted in the environment (Brown* 2001). When ETS is implemented it reduces the pollution of the environment caused by different firms thus making it its main goal. The type of market failureRead MoreMonopolitic Competition in Hair Salon Industry835 Words   |  4 PagesQ. Explain Monopolistic Competition among firms for a particular industry. Draw graph. Monopolistic competition The model of monopolistic competition describes a common market structure in which firms have many competitors, but each one sells a slightly different product. If there was no differentiation, the competition would turn into perfect competition. In effect, monopolistic competition is something of a hybrid between perfect competition and monopoly. Comparable to perfect competition, monopolisticRead MoreStrategic Management Important Questions1648 Words   |  7 Pages1. Define Business Level Strategy integrated and coordinated set of commitments and actions the firm uses to aim a competitive advantage by exploiting core competencies in specific product markets. indicates the choiced the firm has made about how it intends to compete in individual product markets is the core strategy - the strategy that the firm forms to describe how it intends to compete in the product market customers are the foundation of successful business level strategies and should neverRead MoreConcept Of Sustainable Competitive Advantage1610 Words   |  7 Pagesperformance, and a critical view on how acknowledgement of these issues enables managers to gain an edge over other competing firms. According to Resource based approach, heterogeneity of a product is difficult when its resources are valuable, rare, difficult to imitate and non-substitutable. (Barney J, 1991) We examine these four criteria, reinforcing with examples of relevant firms. Introduction There are uncertainties; complexities and intra organizational conflicts inherent in an organization thatRead MoreThe Concept of Marketing and Its Application1258 Words   |  5 Pagescreating value for the firm, focusing on the way there is a communication between the firm and the external stakeholders of the firms to supper sales. Andrew Cohen (2007) provides a much simpler definition, but one that is even broader, stating that marketing is to find out what your customers want and then give it to them (Cohen, 2007). This indicates the important role marketing can play in a proactive manner to support the strategy and even play a role in determining the firms strategy. ExaminingRead MoreEvaluate the view that, because price discrimination enables firms to make more profit, firms, but not consumers, benefit from price discrimination1210 Words   |  5 Pagesdiscrimination enables firms to make more profit, firms, but not consumers, benefit from price discrimination Price discrimination is where a firm changes different consumers different prices for the same service. Consumer Surplus is the difference between what the consumer is willing to pay and the price they actually have to pay. In all three degrees of price discrimination firms are able to make more profit and eliminate any excess capacity they may have. Firms are able to do this byRead MoreCircular Flow Diagrams893 Words   |  4 Pagesvisual models that show firms who employ workers, the workers then spend on goods produced by firms, and the money is then used to compensate the worker and buy raw materials to make the goods and the circle continues. Closed System Closed system economies only count domestic exchanges. That is exchanges with no imports or exports from other countries. This type of economy is self sufficient. This type of economy is usually free of leakage but may have leaks. A close example of a closed system wouldRead MoreWhat Family Offices Are All About And The Services They Provide1604 Words   |  7 PagesFinancial advisory firms have become popular among affluent individuals and families. Whilst there are a number of options available for wealthy families, many choose to go down the route of starting a family office. This guide will examine what family offices are all about and the services they provide. We’ll also look into the benefits of using a family office and the risks involved in setting up a family office. What is a family office? You might be surprised to hear that family offices have

Growing Up With Greek Literature Essay - 1456 Words

Growing Up With Greek Literature Say â€Å"Greek Tragedy† to an English major and you’re likely to elicit a groan, or even perhaps a screech of terror. For me however, Greek tragedy, as well as Greek mythology, has always fascinated me. When I was younger, the Greek God’s always captured my interest, and I could never get enough of them. As I grew older, I became interested in the more refined aspects that Greek literature had to offer. Sophocles and The Three Theban Plays in particular, left me awestruck. I quickly began to realize that many of the new and inventive books and movies I had seen, had actually been written in one form or another, generations ago. I suppose my interest was first piqued when my father brought home the†¦show more content†¦I was brought up Christian and believed in on only one God. A different god for love, war, and a variety of other things fascinated me. Eventually, in my early teens, I took up reading books such as The Odyssey by Homer, and various other works relating to the Trojan War. As is typical with many Greek stories, The Odyssey presented me with a hero I could look up to, but I was dealt my first shock when I realized that not all books have a happy ending. Quite the contrary in most Greek literature. While the Odyssey does have a fairly happy ending, other books on the Trojan War presented a much different picture. Achilles, another one of my heroes at the time, dies, and the city of Troy is sacked. I wasn’t sure how to take these bizarre endings. I say bizarre because as a kid in this day and age, I was presented with stories that always ended happily. The guy always got the girl. The hero always saved the day. The criminal was always caught. This was quite out of the ordinary in my world. I began to realize that the stories and movies I had previously always been presented, were in no way a honest view of reality. Bad things did happen, and that was life. Instead of turning away from this reality, I embraced it, realizing that while the stories themselves may not be true, the reality of the situations faced in them were. Having changed my views on what a â€Å"storyShow MoreRelatedMythology : Ancient Greek Mythology1527 Words   |  7 PagesMythology is a vast collection of made up/fake stories told during the Ancient Greek era. That is what we are told at young age growing up learning about Greek Gods and Goddesses like Zeus and Hercules. But actually the mythology comes from the word myth which is a Greek word for speech or discourse, but later adapted the meaning of fable or legend (Doyle, 2015).The traditional stories, poems, literature, and art have been passed down for years. 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Change Management Plan Salco

Question: Discuss about theChange Management Planfor Salco. Answer: Introduction Change is an important component of any project .However change must be carried out in a proper way so that it does not interfere with the scope of the project. It necessary also that there is a general consensus as far as the changes are concerned The change management plan was designed for Rookie Software Company, in order to give an exposition on the impact of change on time, cost of the project, identify options that satisfy change and define scope creep. Definition of Change Project Change management, refers to the processes and techniques that are used to control change in any project with the aim of ensuring that the project achieves its targets. Every project has its own objectives which are supposed to be achieved within a particular time frame, at a particular cost and as per particular quality standards. (A Guide To The Project Management Body Of Knowledge (PMBOK Guide)) Project Cost For Cost, its the most important component of any project. This is because no implementation of a project can be carried out if the project is not adequately funded. Any cost related changes might have significant impact on a project because all other factors are dependent upon it. One of the techniques that can be used is setting a budget for the project at the onset. All factors should be considered during project setting. In case of any extra cost, source of the added or extra cost needs to be identified. This source has to be defined in terms of either internal or external source. Project Time Time is also an important component of a project .The time in which the project is completed defined its ability to satisfy its intended objectives .If it is finished early, it can be able to satisfy its intentions however if it is not, this may not be possible. One of the techniques used to manage time in a project is defining activities and sequencing them. All activities related to a particular project should be sufficiently defined and be put in the right sequence. (Collins 2011) Project Quality Quality is also an important aspect of a project .The ability of a project to satisfactorily meet it objectives is solely dependent on its quality .One technique that used in maintaining the quality of a project is allocation of sufficient resources. With the allocation of sufficient resources for a project all the objectives of the project can be met and hence the project. Also having in place sufficient expertise ensures that the project is handled in the correct manner possible. Factors for Change Project change may be necessitated by a number of factors which may either be internal or external. One of the most common options for change is project design errors. Design errors can occur in the form of misrepresentations, or omissions of particular important components of a project. If left it means that the project will be implemented with the errors hindering it from achieving its objectives .The danger with project design change is that it may necessitate the overhaul of the whole project hence leading to delays in implementation. Change may also be necessitated by external factors .these are factors outside an organization and which the organization may not have control over. External factors such as introduction of new technologies may cause a project to be changed so that these changes are included in the project. The danger associated with this is that it may lead to an increase in the cost of the projects and lead to delays in implementation. If also the organization for which the project is intended undergoes restructuring also as the project is being implemented, a change may be necessary (Collins 2011) Scope Creep Scope creep refers to the uncontrolled changes that occur in the scope of a project especially because of lack of proper planning for a project .Also if as project is not properly documented before implementation , scope creep might occur. Scope creep can have significant impact on a project .Besides leading to delay in implementation; it may also make the project not to achieve its goals and objectives however this can be managed by a number of strategies. Vigilance on the Part of the Project Manager The manager must be able to refuse all request proposed after project implementation has began .This will ensure that the projects original scope is maintained. Understanding of Projects Goals and Objectives Understanding of projects goals and objectives is likely to ensure that all tasks are directed towards the achievement of those goals and objectives hence doing away with any diversions in the project scope. Change Request Form Change Request Project: Salco Innovation project Date: 24/10/2016 Change Requestor: Mr. Change No:001 Change Category (Check all that apply): ? Schedule ? Cost ? Scope ? Requirements/Deliverables ? Resources ? Testing/Quality Does this Change Affect (Check all that apply): ? Defect Repair ? Corrective Action ? Preventative Action ? Updates ? Other Describe the Change Being Requested: We are requesting for an increase in the resources for this project because the was some sort of underestimation at the start of the project Describe the Reason for the Change: For the purpose of completing the project within time without interfering with the scope and quality of the project I would like to request for some more resources to be allocated towards this project. Describe all Alternatives Considered: Minimizing on spending we have tried as much as possible to minimize resources used in the project Working extra hours We have also tried working for extra hours to minimize on wages and salaries paid Describe any Technical Changes Required to Implement this Change: There are no technical changes that will be required for this change Describe Risks to be Considered for this Change: Change of project scope: we will work to ensure that the changes do not affect the scope of the project. Estimate Resources and Costs Needed to Implement this Change: The project is likely to cost an addition ,500 US Dollars Describe the Implications to Quality: The change will have a positive impact because it will make it more meaningful in terms of meeting its objectives. Disposition: ? Approve ? Reject ? Defer Justification of Approval, Rejection, or Deferral: Serious issues raised Change Board Approval: Name Signature Date References: Portny, Stanley E. 2013. Project management for dummies. Hoboken, N.J.: John Wiley Sons. https://www.123library.org/book_details/?id=96898. Thomsett, Michael C. 2010. The little black book of project management. New York: American Management Association. https://public.eblib.com/choice/publicfullrecord.aspx?p=472580. Kogon, Kory, Suzette Blakemore, and James Wood. 2015. Project Management for the Unofficial Project Manager A FranklinCovey Title. Dallas, Texas: BenBella Books, Inc. https://public.eblib.com/choice/PublicFullRecord.aspx?p=1922361. Snyder, Cynthia. 2013. A project manager's book of forms: a companion to the PMBOK guide, fifth edition. Hoboken, N.J.: Wiley. https://www.123library.org/book_details/?id=62756. Young, Trevor L. 2013. Successful project management. Collins, Robert J. 2011. Project Management. New York: Nova Science Publishers. A Guide To The Project Management Body Of Knowledge (PMBOK Guide).