Qualitative And Quantitative Analysis In Companies Business Essay

Published:

Qualitative research cannot usually be expressed in numerical terms. Typically, qualitative research results in expression of opinion, and is usually therefore verbal.

Qualitative techniques include

Open-ended interviews

Group Discussion or focus group

Analysis of written documents

Quantitative:- Quantitative analysis is a business or financial analysis that works on the mathematical statically models research. It is totally depended on the numerics. In simple terms it can be said that quantitative analysis works on the basis of information existing in figures.

According to investopedia quantitative is simply a way of measuring things.

Competitive Strategy

Internal strategy

Cost leadership

A company who choose a cost leadership strategy offer relatively standardised product and service with all features that are acceptable to customer. Either we can say in other word with minimum level of differentiation at the lowest competitive price. It means that companies should offer well standardised product and service to organisation customers. A company when implement cost leadership strategy then customer receive value of that.

Lady using a tablet
Lady using a tablet

Professional

Essay Writers

Lady Using Tablet

Get your grade
or your money back

using our Essay Writing Service!

Essay Writing Service

Company who wish to be successful by using following cost-leadership must take care of lowering their costs and creating values for customers a company can include cost-reduction strategy.

Minimising the costs of sales , product research and development, service

Building efficient-scale facilities

Establishing tight control of production and over head costs

After implementing and successful a cost leadership strategy that company must consider its value chain of primary and secondary activities and effectively link with those activities.

Even though the five competitive forces are strong a company will still have greater return on investment on successful implementation of cost leadership.

VALUE CREATING ACTIVITIES COMMON TO A COST LEADERSHIP BUSINESS LEVEL STRATEGY

Cost effective Mis system

Simplified planning practice to reduce planning cost

Relatively few management layers to reduce ever head

Consistence policies to reduce turn over cost

Effective training programs to improve worker efficiency and effectiveness

Easy to use manufacturing technologies

Investment in technology in order to reduce costs associated with manufacture processes

Systems and procedure to find the lowest cost products to purchase raw materials

Frequent evaluation process to monitor suppliers performances

Highly efficient system to link suppliers Product with firms production process

Located in close proximity with suppliers

Efficient plant scale to minimise manufacturing costs

Timing of assets purchases

Policy choice plant technology

Organisational learning

Delivery schedule that reduces costs

Selection low cost transport carriers

Efficient order sizes

Interrelationship

With sister unit

Support activities

Primary Activities

As noted in figure above, that company`s focus more in primary and seco ndary value-creating activities.

Lay out of processes and procedures

Taking care of costs to suet customers

Achieving target efficiency and effectiveness

Taking care costs of activities provided by other that mingle with the company`s inbound and out bound.

CHOICES THAT INFLUENCE COSTS

Economies of scale

Asset Utilization

Interrelationships

Order processing and distribution

Value chain linkages

Advertisement and sale

Logistics and Operations

Advantages and disadvantages of Cost â€"Leadership strategy

Advantages

Disadvantages

Inspite of changing lower rate organisation makes gain same level of profit.

Cost leadership profit helps on winning the price war.

Company using Cost-Leadership Strategy protected from rivalry.

Companies are less effected by strong buyers and suppliers.

Due to technologies advancement the low cost advantage become out dated.

Imitation ability of Competitors.

The change in customer taste is ignored.

OUT COMES:-

Investor in People

The Investor in People Standard is a mechanism that can provide a frame work to support organisations in working out for them-selves exactly what is needed, how to go about making it happen and how to evaluate the effectiveness of what has been done.

Royal Garden Hotel use some Investors in People standard

Principle One: Commitment

An I.I.P is 100% bound to improve its employee to achieve its target, aim and objectives with in time period.

Principle Two: Planning

Lady using a tablet
Lady using a tablet

Comprehensive

Writing Services

Lady Using Tablet

Plagiarism-free
Always on Time

Marked to Standard

Order Now

An I.I.P is clear about where it wants to be with next six month or next year or we can say it can be short term long term and what its employees need to do to achieve aim and objective.

Principle Three: Action

An I.I.P develops its employee effectively in order to improve performance. So that organisation achieve easily to the target.

Principle Four: Appraise

An Investor in people understands the consequences of its investment in people on its performance.

Main Characteristic of an Investor in People

A firm can plan ahead by using IIP

A firm has clear about what it is trying to achieve and continually monitor progress towards its goals;

A firm know very well that, what skill and knowledge they need to achieve these goals and targets, and deliver the plan.

Firm know what skill and knowledge his employees already have.

Bridge the gaps between the skills and knowledge already held and by planning and taking action.

Benefit to Royal Garden Hotel after implementing IIP

According to Human Resource Manager of Royal Garden Hotel

The passport to Excellence programme was completed over a two-year period. The programme made a significant contribution to meeting the original aims of improving customer satisfaction and reducing staff turnover.

Customer satisfaction is measured in a number of ways: mystery guest report, customer monitoring and the level of complaints. Clearly a good measure of improved customer satisfaction concerns the level of repeat business and this increased significantly.

Qualitative:- Qualitative feedback from a major client also confirmed the improvement in customer service: this client commented that in 2007it only used the Royal Garden Hotel as a last hotel-now the Royal Garden Hotel is the client first choice hotel in Central London .

Example :-

PIMLICO (Company)

ILMC(International live Music company they come each year for two week and they book whole hotel)

MERCK (Medicine company)

Quantitive:-

Quantitive feedback from Human Resource Manager that staff turnover has decrease after using this strategy it came down till 30% according to 2008.

Skilled employee has increased till 90% to help to achieved aim and target of organisation.

Recent Development of Royal Garden Hotel

The Hotel has undergone number of changes since it was recognised in 1965. The hotel also went through a some programme for introduction of 5 star hotels.

NVQ-linked job description

Modern apprentices

Improved succession planning

New technology

New style induction programme.

The hotel came forward for an investor in people review in April 2000 when it was re-recognised as an IIP.

The 10 Principles of an Investor in Training.

External Strategy

Focus

Royal garden hotel choose to follow implement focus strategy by seeking to use their core competencies to deliver serving the needs of a specific group of clients in the hospitality industry. In simple words Royal garden hotel focus on specific and smaller division or niches of client rather than concentrating on the whole market.

Focused business level strategy contains similar approaches as the Broad Market Strategy. Even though opportunity may exist due to following reasons.

Large company`s over look Niche group where firms like Royal garden hotel get chance to focus on such Niche market.

Company`s might lack in its resources to compete with the industry wide

Helps to serve a narrow division of market effectively and efficiently then industry wide competitor.

Due to this strategy Royal garden hotel is able to direct its resources to specific value chain activities to develop its competitive advantage.

It reduces in research and development by imitating the innovator.

Focus differentiator may prosper by making a selection of smaller group which is avoided or ignore by the larger players in the game of marketing

Royal Garden hotel Choose to work with focus strategy because they are able to deliver excellent service to the niche group of the market.

Due to the

Advantage and Disadvantage of Focus strategy

Advantage

Disadvantage

Lady using a tablet
Lady using a tablet

This Essay is

a Student's Work

Lady Using Tablet

This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.

Examples of our work

Investigation of a gap in the market such as consumer loyalty

Anticipate consumer need and respond to their wants by being innovative.

A Focused organisation is all right against the threat of generate five forces models.

Admit to attack from a broad differentiator.

Niche market would no more exist due to changes in technology in customer choice and taste.

Advantage and Disadvantage of Differentiation Strategy

Advantage

Disadvantage

It gives premium price

The company are protected from rivalry’s E.g. Customer Loyalty, Brand Loyalty.

The companies are less affected by strong buyers suppliers.

Substitute of product can be a threat.

Difficult to retain the product in customer’s eye for long characteristic in feature.