Implementing A New Software Or Equipment Or Launching Your...

You’ll also need to research the current competitive landscape in order to understand whether the proposed idea or action is viable. Whether you are implementing a new software or equipment or launching your own new product, you need to compare the proposed product or service with other similar items on the market. This might mean you need to compare the feasibility of your chosen software (for example, accounting platform) with other products on the market. What are the benefits of your proposed choice and what are the weaknesses? Are the risks associated with your chosen software smaller or bigger than those of competitive products? The same analysis applies when launching a new product. Part of your feasibility study must then focus on understanding what the customers are looking for and whether your proposed idea answers these needs. You should also compare the proposed product with the existing products or services and focus on the advantages, as well as disadvantages, you might have. Step 4: Examining the market conditions You also need to examine the market conditions. There are four specific points of analysis when it comes to the market in terms of feasibility. These are: †¢ Defining the target market. †¢ Studying the buying habits of the target market. †¢ Understanding the sale and market share outlook of the proposal. †¢ Outlining the product awareness that is required for the use of your product or service. The main goal of this part of the feasibility study isShow MoreRelatedEvaluating A Feasibility Study?943 Words   |  4 Pagesby conducting a feasibility study. In this guide, we will examine what a feasibility study entails and when it should be used. We’ll then outline the five key elements of a feasibility study and provide you with six steps for conducting one within your organisation. What is a feasibility study? A feasibility study is a study, which is performed by an organisation in order to evaluate whether a specific action makes sense from an economic or operational standpoint. The objective of the study isRead MoreMaterial Requirements Planning System4256 Words   |  18 PagesPresident Operations, Riordan Manufacturing, an evaluation was requested for the development of a Material Requirements Planning (MRP) system. The system is to track and manage raw materials as well as finished product inventory throughout Riordan Manufacturing. Overall, the objective of implementing an MRP is to reduce on hand raw materials and finished goods inventory costs. The intent of this paper is to provide summary information to upper management by demonstrating the business requirements definitionRead Moretable of proposal target and time scale10137 Words   |  41 Pagesfinishing this assignment. If it’s not for all the mentioned above, this task would have never be done in time. Thank you. Sincerely, †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. MUHAMMAD HAZWAN BIN GHAZALI SHM O8-01-1379 Task 1 : 1.1 Using information from your own research, conduct an external / environmental audit on the given company. (PFIZER) In order to do the external audit on PFIZER, I choose to use the SWOT Analysis (Threats and Opportunities) and PEST. As I think it is the most suitable auditorsRead MoreMusicians Friend1813 Words   |  8 Pageshas always been The Best for Less Shipped to Your Door. This is still their company slogan but their mission includes a lot of customer service emphasis as well. The company believes that the key to their success started with their mission statement, commitment to customers, dedicated employees that share the vision, forming partnerships and the growth of the business. Overview Musician’s Friend is an authorized dealer of thousands of products from more than 900 different manufacturers suchRead MoreExternal Environment3104 Words   |  13 Pagesenvironment comprises those factors and trends outside the organization that might have an influence upon an organization and its future. Many external factors can have an effect upon an organization - from changes in government legislation to the entry of new competition into a market. All businesses and organizations operate in a changing world and are subject to forces that are more powerful than they are, and which are beyond their control. Any business strategy needs to take account of all these forcesRead MoreChatimes Competitor in Malaysia5865 Words   |  24 Pagesconsumption of drinks, culture, trends and preferences have to be considered in this analysis as well. Recommendations for delivery services and Drive-Thru Chatime are suggested by the marketing team to provide convenience and availability of Chatime products. Introduction The Malaysian bubble tea franchises have a few dominant players – Chatime, Ochado and Gong Cha, stated in the Star (The Star, 2012). However, other minor existing bubble tea players are Share Tea, Ding Tea, Each-A-Cup, Cup BonRead MorePest - Assignment3279 Words   |  14 Pages3. PEST Analysis 4 (3.1) Political Legal Environment 4 (3.2) Economic Environment 4 (3.3) Social Environment 5 (3.4) Technological Environment 5 4. Industry Analysis 5 5. The Michael Porter Five Forces 6 (5.1) Threat Of New Entrants 7 (5.2) Rivalry of existing firms 7 (5.3) Threats of substitutes 7 (5.4) Bargaining power of buyer 8 (5.5) Bargaining power of suppliers 9 6. Conclusion 9 7. Bibliography 10 8. References 10 EXECUTIVE DIPLOMARead MoreBat: Project Management and Case Study5228 Words   |  21 Pagesfocusing on a custom systems development project – â€Å"MaxFli† – for a sales force automation system that is needed in a number of local countries (end markets) of a large multinational company (BAT). It is part of a business change initiative for implementing best practice among a field sales force and gathering decision-making data. The MaxFli project takes a decidedly â€Å"decentralized† approach to development; this initiative follows a prior â€Å"centralized† project that had been poorly received in theRead MoreChatimes Competitor in Malaysia5851 Words   |  24 Pagesconsumption of drinks, culture, trends and preferences have to be considered in this analysis as well. Recommendations for delivery services and Drive-Thru Chatime are suggested by the marketing team to provide convenience and availability of Chatime products. Introduction The Malaysian bubble tea franchises have a few dominant players – Chatime, Ochado and Gong Cha, stated in the Star (The Star, 2012). However, other minor existing bubble tea players are Share Tea, Ding Tea, Each-A-Cup, Cup Bon,Read MoreChallenges Faced By Developing Countries2671 Words   |  11 PagesThe aim of this thesis is to present the findings along with the challenges and the ways to tackle them while implementing Lean and Inventory Control in Mass Customized Environment. In this ever competing industrial setting of present times, it is hard for the industrial and manufacturing sector of developed economies, to grow and compete with those in the developing economies, which seem to dominate the manufacturing sector, thanks to the various compromises they do and the very mere fact they