Business db unit 5 The Smart Chips Company specializes in developing first-of-it
ID: 2450542 • Letter: B
Question
Business db unit 5 The Smart Chips Company specializes in developing first-of-its-kind microchips; yet, its market share has been hurt by clone microchips. Use the library, course materials, and other credible sources to research the concept of Michael Porter’s Value Chain Management.Write 4–6 paragraphs to respond to the following:
* How you would put this concept to work, specifically at the Smart Chips Company, to help it remain competitive in the long run?
* What other management concept(s) covered in this course would be helpful to Smart Chips? How would you incorporate them into the Smart Chip’s culture?
Explanation / Answer
In competitive industries, most of the time, companies must look within, and find ways to reduce the cost of bringing a product from the raw material to finished stage, in order to remain competitive in the long run. The computer microchip industry, in particular, is very competitive. Whenever a new microchip comes into the marketplace, the makers of "clone" microchips release a clone microchip that is almost as good as the original, but priced considerably lower. In this work i need 1 page with 5-6 paragraph please for next Wenesday. Thanks. The Smart Chips Company specializes in developing first-of-its-kind microchips; yet its market share has been hurt by "clone" microchips. The Robbins text outlines 6 requirements for Value Chain Management. In 4-6 paragraphs, discuss how you would put these requirements to work specifically at the Smart Chips Company, in order to help it remain competitive in the long run. Remember to use the Library or other Web resources to support your argument. Be sure to cite your sources using the correct standard of APA. Value Chain Management Value chain is a process of separating a business into a number of connected operations, each of which may create value for the client. The value chain is a framework for classifying the contribution of individual operations in a business to the whole level of client value the enterprise makes and eventually to its fiscal accomplishment. The value chain principles supports analyzing operations that add value and ultimately bringing an organization into an built-in supply chain. According to Porter (1985), value chain administration is a procedure that assists in classifying and building ambitious improvement. Value chain management aid the company to be competitive in the long run. It can assist to run the series of expressed business operations and other information that linked with the product flow and develops a policy to accommodate workers into a chain to comply with customer’s needs. There are six necessities for the value chain administration. Organization culture and Attitudes: An organizational culture includes the exclusive ways of doing things in an organization that are best captured by these fundamentals of culture as the history, norms, and values of a group. ABC Microchip Company is competitive business, therefore they need to amplify an environment that is based on principles and perception in which company employees experience associated with the organization and would be able to dedicate their effectiveness towards the innovation and superiority of goods (Luthans, 1998). Coordination and Collaboration: Coordination and collaboration vary in the scope of the area of concentration. Coordination focuses on problem fixing, which demands regularly intellectual contributions. In contrast collaboration focuses on broader problems and asks for additional than intellectual means from the contributors. This aspect is very vital in providing integration between all levels of management. Since collaboration always takes situative and historical contexts into account, people can look for in a bigger problem space, add their private concerns in, and expand a solution important to them. Coordination emphasizes structures, roles and control. With the help of control and collaboration people work together to choose what to perform and how to get it completed . Technology investment: Investment expenditures of businesses govern economic growth. For Microchip Company, particularly investments in new and more well-organized technologies are an imperative determinant. The company should need to be concentrate on the technology updates to face competitive market. ABC Microchip Company should manufacture reliable and high performance quality chips. They should also concentrate on the competitors’ technological advancements so they be able to sustain their position in industry. Leadership: Leadership is a procedure that alters and transforms people. It is concerned with emotions, values, ethics, standards, and long-term goals. Leadership should evaluate followers’ motivates, fulfilling their desires, and treating them as full human beings. “A successful leader considers all the factors that are related with business, company & its employees and seeks to build competitive advantage” (Luthans, 1998). Employees: Employees are very central for the success of the company and measured to ba an asset. The company wants to systematize technological training applications for the employees to develop their effectiveness and proficiency to contribute in the success of the organization. Processes: ABC Microchip Company needs to have appropriate procedures of manufacturing and activities. “It should get into large production of complex integrated digital memory chips and integrated circuits. Large production and small size of integrated circuits would give low price advantage to the company that will enable to overcome and stand in highly competitive microchip industry” (Robbins, et.al., 2006).
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