Lotus Rental Cars Executive Summary Introduction Lotus Rental Car’s Chief Financial Officer is looking for ways to increase profits and the consumer base by adding alternative fuel vehicles to the Lotus fleet. With fuel costs continuously rising, the need for alternative fuel vehicles is more attractive to consumers as a source of lower fuel prices. This appeal is not only to the regular rental car user but for the ecological minded occasional driver as well. Ecology and fuel efficiency are the cause for more people to start shopping for hybrid vehicles. Vehicle manufacturers are able to increase revenue with the sales of hybrids while increasing production to keep up with the demand.
With the value of the dollar raising it will increase real Gross Domestic Product. When the country as a whole is better it will make people feel good about spending money. Once people start spending money, the country will start to resemble what it used to be. In addition exchange rate could be a big factor on the amount of product that you export. This could have a bearing on what the company’s bottom line
Potential customers can range from the individual or business looking for a new vehicle to those that need to maintain what they currently own. Big Drive should focus on satisfying the needs of both potential customers in order to continue to be profitable. Individuals or businesses in the market for a new car may have more disposable personal income available so may be more likely to invest in something new rather than service their current vehicle. This allows Big Drive to increase their profits associated with sales of new vehicles. For those individuals with less opportunity to spend any personal income they may have, Big Drive needs to attract the potential customer for parts to their vehicle or for such services or products such as motor oil, coolant, or tires.
Without customers, there is no business and this will hurt this large company in the long-term. Not only is it right for the company to give more consideration to their employee’s desires but it will also contribute to the bottom line. Their customer will know the value of their company and employees will be more productive in what they do and proud of who they work for. Wal-Mart makes an average of $245 billion in revenues; therefore they have the resources to treat employees fairly. It is important for their corporation to take care of their workers and have a reputation of treating them fairly, which is important to the customers.
Innovation impacts the cost of production as well. Even the innovation helps in lowering the cost of production and making economies more efficient – producing more outputs with the same number of inputs. Technology affects market structure. In today’s market world, technology advances more rapidly because individuals gain incentives, in the form of profits, to discover new and cheaper ways of doing things. Even the dynamic efficiency refers to a market’s ability to promote cost-reducing or product-enhancing technological change.
This will mean the population will have more money which will go into the economy, this will mean more income for improving infrastructure and services. Also as TNCs move to other countries, job opportunities increase which means that the quality of life will generally improve too. Another benefit would be that the status of an area would be raised; this may encourage investment by other big name Multi-Nationals and most importantly will improve the countries economy drastically as valuable export revenues will be earned. Most important, they will benefit from cultural exchange creating a cultural integration. LEDC countries do not benefit as much as MEDC countries do, for example, sometimes much of the employment is low paid, low skill, long hours, meaning that the countries do not develop economically or give the opportunity to develop their skills.
240). Using this strategy of promotion could cause more exposure for KFF and help them become more globalized. If the company carries and sells the products the right way, the consumers will think “this company means business, let’s show our appreciation”. To make any company grow individuals need to promote it in the right way because promoting a company the wrong way could cost the business
I believe that if the management of the human resources department is done in the right way then it can be an important factor for what success a business will have. If the staff are well trained and looked after, they will provide better customer service which will bring more customers there so they will make more money but just doing that one task is nit enough, staff will also need to re-stock shelves that are bare and they would have to do that quickly so that there is always fresh food for customers to buy, staff will also need to multitask so being able to do the job they are doing while helping a customer at the same time. Managing physical can have big say in how much money Asda spend, ensuring that the building and the space inside is well maintained
It also has numerous of problem that one needs to understand. Analyzing and interpretation of the interviews are subjective and can be biased (Javalgi, Granot, & Brashear, 2011). Thus it is crucial that the facilitator is experienced and understands the culture’s verbal as well as nonverbal communication. Assumption about the interviews can lead to errors in the research. However, understanding the culture and values of foreign consumers can help boost the sales of the product and service because the sales teams can market and target their consumers.
Primarily, in order to have a successful business they need to have plenty of happy customers. In detail, to keep them happy customers need to feel taken care of when they call these companies with problems, which means they want to be able to understand who they are speaking to. By outsourcing jobs we face a big language barrier and when customers cannot be taken care of properly they will go elsewhere with their