An research of the drink bar industry

I acquired a lesson from the first lecture that critical thinking is important. Inside the lecture note, critical thinking is described as "the intellectually disciplined process of actively and skillfully conceptualizing, making use of, inspecting, synthesizing and/or analyzing information collected from, or generalized by, observation, experience, reflection, reasoning or communication, as helpful information to notion or action (Scriven & Paul, 2001). In my definition of critical thinking was "different thinking from other folks usually think". My definition is similar to this sentence "Don't take it as it is" in the lecture. In any other region of learning or working, critical thinking is vital because we can learn more whenever we think critically. It creates invention on our life.

Week 2

The theme of week 2 is company situation examination. For accomplishing this I choose the company 'Boost Juice Pubs'. In order to do company situation research, Gmmso provides several requirements such as company background, mission statement, revenue for past 3 years, corporate-level strategies, business-level strategies, rivals and approach to international involvement. I got considering corporate-level strategies and business-level strategies, because I could not understand the difference between corporate-level strategies and business-level strategies. But doing research, I could understand. The corporate-level strategy is the course an organization can take with the objective of attaining business success in the long run. For example, it handles the level of diversification, and the reason for diversification. Thus, it is more likely to give attention to internal things in the company. However, the business-level strategy is a bit different from the corporate-level strategy. It is a long-term method of implement a firm's business plans to accomplish its business objectives. In other term, it relates to the questions such as "who'll the product or service serve?" "And "the type of needs will the merchandise or service satisfy?" Furthermore, there are five generic business-level strategies which are overall low-cost provider, wide-ranging differentiation, best cost supplier, focused low-cost, and targeted differentiation. Most businesses employ one technique from the five. I examined Boost Juice Pub employs concentrated product differentiation, because the company has 80 different beverages. These beverages are totally different from other opponents' beverages. Also, Boost Drink Club is leading the industry. It means they can choose the price tag on products and costs which are cost leadership.

I could compare Increase Juice Bar and its competitors which are Easyway, Cha Time, and Goulburn Valley Juice. Boost Juice Club is engaged internationally, because the business has broadened internationally with stores in Asia, Europe, Russia and the center East through franchising. Competitors such as Easyway and Cha Time use franchising as well. These three companies have similar forms in doing international business.

Week 3

In week 3, I had to analyze industry which Increase Juice Pub is engaged. Competitive analysis of the industry uses Porter's five causes framework that happen to be threat of new entrants, threat of substitutes, determinants of supplier vitality, determinants of buyer vitality, and determinants of competitive rivalry. This is quite important when analyzing competitiveness of the industry. For example, if the risk of new entrants is high, competition will increase because the company will be competing with many other companies. If competition is high, revenue potential usually reduces because demand decreases. Therefore, I had fashioned to find out financial information for the last two years.

Also, I had fashioned to find out talents, weaknesses, opportunities, and threats (SWOT) of the company. I have done this lots of time in prior semesters. However, I could know this more at length. First of all, strengths are things that the company can use to obtain a competitive advantage. For example, maybe it's good reputation, cost benefits, exclusive access to resources and access to distribution channels. Increase Juice Bar has those things as advantages. In opposite eyesight, weakness makes a company to be aside from competitive advantages. It really is like weak brand, bad reputation and high costs etc. It is important to discover opportunities and threats of the business. Opportunities are something similar to finding a niche market, taking benefit of new technology, and taking advantage of comfortable trade barriers and regulations. However, threats exist in various varieties. Recently, consumers' tastes are quickly changing. Additional legislation and trade barriers are often occurred. Overall, to reach business goals and goals, it is important to make more strengths, and make back-up plan to reduce risks from threats. Furthermore, the business always has to take a look at opportunities and in a position to grab the opportunities.

Week 4

In week 4, our group chosen the company as JB HiFi. Briefly, JB HiFi is an electronic device store in Australia. We got to begin to do component 2. In module 2, we have to choose number countries. We choose the uk, Germany, Canada, Japan, China and South Korea. To select countries, the essential thing I considered was the similarities between Australia and web host countries. Definitely, it is simple to be engaged in the country if many aspects are in keeping. Therefore, the PESTLE framework and six segments of environmental evaluation were used. The PESTLE platform categorises environmental influences to six main types: politics, economic, social, scientific, legal and environmental. Through this framework, the possibility of success or failure is measured. The six segments of environmental evaluation contain demographic, economic, politics/legal, socio-cultural, technological and global. Thus, this evaluation was much more likely to concentrate on internal things. In addition, I learned all about the CAGE distance framework. The term CAGE is from ethnical distance, administrative distance, geographic distance and economic distance. In each category, there are four sections which measure the distance. Therefore, we're able to select and examine variety countries by PESTLE platform, six segments of environmental examination and CAGE distance construction.

Week 5

We finished module 2 by doing country analysis and summary & suggestion. Country analysis is straight related to requirements selection. Requirements selection was whatever sub conditions will be included in our analysis. Once we put information of the country and data, it shows a graph whatever country is more favorable. Conclusion and recommendations are summarizing our findings from whole module 2. In our group circumstance, Canada and the United Kingdom are the most advantageous countries, because both of these countries have potential market opportunities, just like Australian in conditions of political, cost-effective, socio-cultural, technical, legal and environmental.

Week 8

In week 8, I learned all about the Porter Gem which is determinants of national competitive advantage. You will discover four parts, and one part associates with the other three parts. The four parts are solid strategy, structure, and rivalry; domestic demand conditions; related and promoting companies; country factor endowments. This model looks at clusters of sectors, where the competitiveness of one company relates to the performance of rivals and other factors tied together in the worthiness chain, in customer and client relationship, or in an area or local contexts (Porter, 1990).

Week 9

I had to finish module 3 which are in-depth market examination. In module 3, I compared two countries that your UK and Canada in conditions of country admittance condition, and financial and market accessibility condition. One of interesting things is that Canada eliminated commercial taxes while the UK imposes 20-24 percent. From my finding, it says 'in Ontario the organization capital taxes was eliminated this year 2010 for those corporations, although it was removed effective 2007, for Ontario organizations primarily employed in production or tool activities'. In Uk Columbia the organization capital tax was eliminated in 2010 2010. Out of this kind of plan, I could recognize that the government and many Canadian industries have began to extend trade with growing Asian markets, in an attempt to diversify exports and imports. Another interesting thing is taxes. In Canada, taxes are intensifying with the high income residents paying an increased percentage than the reduced income residents. However, Canadian Centre for Insurance plan Alternatives found that the richest pay the lowest rates of taxes among all income organizations.

Week 10

In week 10, I could find Foreign Market Entry strategies. That is included BUS201, BUS202, BUS301, and BUS305. Thus, it is undoubtedly one of the main topic in International Business. You will discover seven strategies that happen to be importing or global sourcing; exporting; countertrade; overseas direct investment; collaborative endeavor; licensing; and franchising. Briefly, importing or global sourcing are buying products and services from international sources. Exporting is producing products and services in home country and selling them to other countries. Countertrade is international deal in which payments are created in products or services rather than cash. Foreign immediate investment is committing capital and securing ownership of an manufacturing plant, subsidiary, or other facility at number country. Collaborative projects make similar equity investment abroad, however in collaboration with another company. Licensing is a firm permits a foreign spouse to use its intellectual property and get paid. Franchising is some sort of retailing like McDonalds, KFC, and so forth. Also, franchising makes internationalize easily.

Week 11

Module 4 is entry strategy and the global marketing management plan. With this component, 4P's strategy and plan are being used. First of all, product should be analyzed whether it is global product or not. If the merchandise is global product, it will have specific aspects such as tool, compatibility, adaptability and universality. Second, pricing also has specific aspects such as affordability, marketability and sustainability. After you determine price, you should think about competitiveness, goals and market positioning. Thus it requires strategic pricing. Thirdly, promotion is a communication between retailer and buyer. Therefore, it will have message onto it. There are many ways to market. For example, Television advertisements, online adverts, magazine, radio, viral etc. Lastly, distribution is also important. You need to think about whether it has intermediaries or not. If it has intermediaries, you have to find out the number and its cost. Depends upon intermediaries, it could be easy to control and gain access to or not. It is good to learn buyer patterns, because if buyer wishes something frequently, then it ought to be close to buyer.

Week 12

In week 12 lecture, I got asked to think of three dot tips. First one is 'strategy = resources + capabilities'. Strategy is how a company will reach their goals and objectives. To success in their industry they have to have useful resources allocation and capacity for doing that. Second one is 'sustainable competitive benefit'. As time goes on, the competition in any industries goes firm. Thus, to survive in this high competition environment, companies will need to have sustainable competitive advantages. Third the first is 'opportunity vs risks'. There is no opportunity without risks. This issue always comes together. For instance, exporting has low risk and low return, but FDI has high risk, and high go back. Therefore, it's important for firms to investigate their company and industry, also to match their strategy with their goals and targets.

Also We Can Offer!

Other services that we offer

If you don’t see the necessary subject, paper type, or topic in our list of available services and examples, don’t worry! We have a number of other academic disciplines to suit the needs of anyone who visits this website looking for help.

How to ...

We made your life easier with putting together a big number of articles and guidelines on how to plan and write different types of assignments (Essay, Research Paper, Dissertation etc)