Evaluation Of Competitive Environment

Evaluation Of Competitive Environment INTRODUCTION In any businesses, understanding micro-economic and macro-economic environment that business is operating in is very important stage because the factors in these two environments have strong influence on the success of business. Micro-economic environment involves demand and supply for the business, market structure and cost structure. In other words, those are internal factor of the business that to some degree business can control. On the other hand, macro-economic environment comprises of external factors that cannot be controlled by the business but have strong influence on the business for example: economic situation, inflation, interest rates. This report will describe and analysis the impacts of micro and macro-economic environment on Dominos pizza business. The purpose of this report is to use knowledge and theory in economics for manager subject to apply into practical situation. MICRO-ECONOMIC ENVIRONMENT The business overview Dominos Pizza is an American restaurant chain and international franchise pizza delivery corporation. Founded in 1960, Dominos is the second-largest pizza chain in the United States and has more than 10,000 corporate and franchised stores in 70 countries and all 50 states of United State. Dominos Pizza was bought out by Bain Capital in 1998 and went public in 2004. In Australia, Dominos Pizza is the largest pizza chain in terms of both network store numbers and network sales. In addition, Australias franchisee is the largest for the Dominos Pizza brand in the world. Dominos Pizza holds the exclusive master franchise rights for the Dominos brand and network in Australia, New Zealand, France, Belgium, the Netherlands and the Principality of Monaco. The Dominos brand is owned by Dominos Pizza, Inc, a listed US company. Dominos Pizza Enterprises are operating in five countries, with approximately 845 stores hiring about 21,000 people and making more than 60 million pizzas a year. Dominos Staff Products The current Dominos menu features a variety of  Italian-American  entrees and side dishes. Pizza is the main focus, with traditional, specialty and custom pizzas available in a variety of crust styles and toppings. Besides, Dominos also try to appeal to a larger base of customers by expanding its menus offering pastas, sides and desserts, chips. http://blog.vovici.com/Portals/60483/images/dominos_pizza_pie.png http://whatifeedmyhusband.files.wordpress.com/2010/12/img_2916.jpg https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgAyMHXvGTkyfwZnV9RXGvATzVjG8zoGqlli4gCSLoIR0fLG1SmodSFwSeaXDfdURlq6bKJpXuwIVPiQydJgIGbQp5rz1rynZNGMlIR8UoxYXeul4GQMOrtcrXCqU8FhXTazfnZBL7g8HGJ/s1600/DSC_5602.JPG http://slice.seriouseats.com/images/2013/01/20130108-dominos-chain-reaction-bread-bowl-pasta-5.jpg Customers Dominos target market is the consumers who is looking for reasonably-priced pizza and quick delivery. Dominos mainly focuses on delivery and pick-up customers. Demographically, Dominos does not target at a specific segmentation. Instead, it targets. Moreover, Dominos also concentrates on online pizza orders, so it can reach the greatest number of consumers while also improving its ability to meet customer demand, by 2012 online and mobile ordering account for up to 40% of sales. Competitors Domestically, Dominos faces highly competitive with main challenges coming from Pizza Hut, Papa Johns and various local/regional competitors. Direct competitors Pizza Hut: 271 stores Pizza Haven: 150 stores Pizza Capers: 95 storesC:UsersQuanDesktopdownload (2).jpgC:UsersQuanDesktopimages.jpgC:UsersQuanDesktopdownload.jpg Crust Gourmet Pizzas Eagle Boys Pizza: 281 stores C:UsersQuanDesktopdownload (1).jpgC:UsersQuanDesktopcrust_logo_vine__Square_normal.jpg Indirect competitors Dominos pizza has a huge variety of indirect competitors or close substitute products within fast food industry like Mc Donald, KFC, Subway, Nandos, Hungry Jack, Sushi†¦ Market share Dominos Pizza is the market leader in the Australian chained pizza market with 46.1% followed by Pizza Hut (29.8%), Eagle Boys Pizza (14%), Pizza Haven (3%) and other (7%) Figure : Market share Evaluation of competitive environment Monopolistic competition is a market structure where many producers of somewhat different products compete with one another (Robert, 2010, p 401). Dominos chain is operating in a fast food industry with a number of similar producers. These producers are competing together within Australia to gain market share in pizza market. Although the products produced and sold are basically the same among these producers, there are still different feature differentiate them, namely brand image, store design, location, additional services. What helps customers distinguish Dominos from other pizza stores are the distinct logo and design in store, easy online order and tracking as well as quick delivery service. In addition, barrier to entry pizza market is not really high. Although differentiation is a large and necessary expense for the large fast food chains, it is not difficult for private startups to overcome and thus not a significant barrier to market entry. As a result, it can be concluded that Dominos is operating in Monopolistic competition environment. Evaluation of Demand Curve Operating in Monopolistic competition environment and occupying 46.1% chained pizza market give Dominos a certain power to determinate pizza price in the market. Ii is assumed that Dominos increases its price; majority of customers would switch to other place for pizza like Pizza Hut, Eager Boys Pizza or switch to substitute products of pizza like burger, chicken, sushi. However, not all customers will do that; some of them will still buy Dominos pizza because of its convenient location or quick delivery. Therefore, demand curve for Dominos is relatively elastic but not horizontal as can be seen in the graph. Figure : Demand curve of Dominos As a nature of Monopolistic competition environment, firms that are operating in that environment can pursue the objective of maximizing their profit. As a result, price will be above marginal cost (as can be seen in the graph). Dominos also can maximize its profits by producing and selling the quantity of pizza at q* at which the pizza price will higher marginal cost of producing pizza. However, this pricing strategy need to be considered carefully and should be only employed in the short run because of the fact that in the long run if Dominos keep the price so high and its competitors reduce the price, Dominos will lose its customers base which means that the demand curve for Dominos will shift to the left leading to decreased profit of Dominos. In addition, this strategy also encourage new entrant to enter into the pizza market which also have the effect of shifting demand curve of Dominos to the left. Cost structure of Dominos Fixed cost and variable cost The short-run total costs of Dominos break down into two categories: fixed costs and variable costs. Fixed costs are the costs change with the level of outputs (Robert, 2010, p 296). For Dominos, these costs comprise of Management salaries, Plant and equipment, marketing expenses, occupancy expenses, store related expenses and communication expenses. On the other hand, variable costs are unchanged with the level of output. The variable costs of Dominos include the expenditure on Food and paper and employment. (For more detail refer to appendix 3) Figure : Cost structure of Dominos Evaluation of cost structure As can be seen from the cost structure of Dominos, the proportion of variable cost is relatively higher than fixed cost, 71% as opposed to 29%. In short term, declining average fixed cost is primary reason for the falling average total cost and with high output, diminishing marginal product causes marginal cost to increase which eventually causes average variable cost and average total cost to rise (Robert, 2010). Therefore, cost structure of Dominos indicates that as its pizza stores increase their sold pizza to stores capacity, the effect of declining average fixed cost will soon disappear and the effect of diminishing marginal product will be soon prominent leading to average total cost increasing quickly. This also explains why more Dominos pizza stores are going to be opened quickly within one year so that the average total cost will decrease again. This is illustrated in the graph below, as the average total cost increase quickly from A to B and its current stores nearly reach to capacity, Dominos will open another store to reduce the cost to C so that it can keep competitive price with its competitors. Diseconomies of scale occur as the firm finds it increasingly difficult to handle the complexities of large scale management (Robert, 2010, p 306). However, at the moment it is not a case for Dominos as the expansion strategy employed by the company is franchising. This strategy allows Dominos to expand operation without adding complexity to the management because the business model has been standardized to be able to be copied within a market and easily managed by manager. Therefore, in the long run Dominos still can manage its cost store by store and leverage the economies of scale for each new store opened. MACRO-ECONOMIC ENVIRONMENT Political environment in Australia Recently, Australia stood out as an attractive investment destination due to a political system that has been evaluated as being highly effective in responding to economic challenges .The adaptability of Australian government policy to economic changes has been ranked in the top two countries in the region (IMD World Competitiveness Yearbook, 2009). Australia also has an open, efficient and transparent legal framework due to a strong system of checks and balances, and a highly respected judicial and law enforcement system. Moreover, tax policy, labour law, environmental law, trade restrictions and tariffs are carefully constructed and implemented consistently which provide a clear guideline and safe environment for businesses (Australian Trade Commission, 2011). Economic environment in Australia The economy of Australia is one of the largest economies in the world. In 2011, it was the 13th largest national economy by nominal GDP and the 17th-largest measured by PPP adjusted GDP, about 1.7% of the world economy. Australia is the 19th largest importer and 19th largest exporter. Service sector is the main contributor to the Australian economy with 68% of GDP. The mining sector presents 19% of GDP. Economic growth is largely dependent on the mining sector and agricultural sector with the products to be exported mainly to the East Asian market. Australia is a member of the APEC, G20, OECD and WTO. The country has also signed free trade agreements with ASEAN, Chile, New Zealand, Thailand, and the United States. The ANZCERTA agreement with New Zealand has greatly increased integration with the New Zealand economy subjecting to form a Single Economic Market by 2015. Growth rate Australia is one of the fastest growing economies among developed countries. Despite of the effect of global financial crisis, Australian economy still shows a good sign of continual growth. The main industries contribute largely to Australian economy include mining, tourism, education, agriculture and manufacturing. Historical Data Chart Figure : Australia GDP growth rate Unemployment rate Jobless rates in Australia fluctuated between 5 to 5.4% between 2010 and 2012, this is a satisfactory indicator of a growth and healthy economy as natural rate of unemployment is 5%, especially in the worlds current situation where the unemployment rates in other developed countries are alarmingly high such as 7.8% in US and 11.8% in Europe.Historical Data Chart Figure : Australian unemployment rate Inflation rate.Historical Data Chart Consumer Price Index (CPI) shows a downward trend over the period from 2010 to 2012 reflecting an effective monetary policy of Australian government. Figure : Australia inflation rate Interest rate Interest rates in Australia tend to decrease significantly during 2011-2012; this indicates a healthy economy that encourages investment and capital markets remain open to corporations Historical Data Chart Figure :Australia interest rate Evaluation of influence of micro-economics on Dominos business Through above overview of macro-economic environment, it can be stated that Australian economy currently is favorable for organizations operating in and Dominos is not an exception. Economy is still growing and creating more jobs indicating that people will have more disposable income to spend, hence demand for pizza will increase in the future. This is demonstrated by the fact that disposable income per capita in Australia over last decade has been increasing 2.6% per year in average, meanwhile revenue of Dominos has been also increasing significantly at average rate of 20%. This fact also shows that pizza is likely to be a normal good because quantity demanded increase with the growth of consumers incomes. In addition, low unemployment rate and interest rate are good indicators for Dominos because it cans easily access to financial and human resources which are the key factors of any business. However, the problem face Dominos is the increase of food price and wages. As these are two main costs that make up for about 75% of total cost, an increase in those cost will influence the ability of Dominos to keep the competitive prices to customers. APPENDIX Appendix 1: Management salary and fees Appendix 2: Statement of income 2012 Fixed cost Value ($000) Variable cost Value ($000) Management salaries 5,142 Food and paper expenses 78,679 Plant and equipment costs 8,588 In store employees wages 60,140 Depreciation and amortization expense 10,029 Occupancy expenses 7,837 Marketing expenses 11,477 Store related expenses 5,887 Communication expenses 6,669 Total 55,647 Total 138,819 Appendix 3: Fixed cost and Variable cost of Dominos in 2012

Organisation Study at Minar Ispat PVT LTD Essay

Mr.Muhammed shafi, the managing Director of â€Å"Minar group† of companies with its corporate office at palakkad, Kerala, India mainly engaged in manufacture and supply of various steel and allied products in the country for the past decade and a half .markets its products in the country through a wide dealers network. Beside Steel Industries, Minar group is an also engaged field like Construction, Education, Health, etc Minar ispat (p) ltd,an ISO 9001:2000 certified company in the year 2006 at anakuzhikkara p.o,kuttikatoor ,Kozhikode, and Kerala, India is engaged in manufacturing and marketing of high quality Cold Twisted Deformed(CTD) Bars and Rods and Thermo Mechanical Treated (TMT) Bars Quality M.S Ingots. They ensure their quality through ONLINE COMPUTER CONTROLLED QUENCHING BOX manufactured and erected by M/s RA TMT Bangalore whose technology is approved by the auditors of CRM(Centre For Research in Metallurgy) Belgium for using the â€Å"TEMPCORE† Trade Mark for their products i.e., the license/trade mark issued to the products quality (quality parameters)confirming to the international standards. STRENGTHS The company has obtained ISO 9001-2000 certification Centralized management Good training system Good organizational climate Excellent infrastructure for manufacturing the products Skilled employees Availability of iron ore Availability of labour at low wage rates OPPORTUNITIES High demand of product Introduction of promotional activities Expansion of distributional areas Unexplored rural market Export penetration THREATS Competition from other manufacturers Raw material cost is high and increasing Transportation cost is high Slow industry growth Technological changes Price sensitivity and demand volatility FINDINGS,CONCLUSIONS,SUGGESTIONS FINDINGS Minar ispat pvt ltd produced high quality goods with QC techniques. High competition in the field of steel industry The working environment is very risky The use of TMT technology made great impact on the sales volume The Minar Ispat Pvt Ltd ‘main sales promotion tool is Advertisement through television. The Minar Pvt Ltd has been working with an efficient organizational structure The organization is now showing a profitable position Minar Ispat Pvt Ltd, showing an excellent operational efficiency in all areas. The performance of the Minar is exemplary in market compared to other similar institution. The accounting system is fully computerized. SUGGESTIONS The organization should recruit fresh candidates by imparting necessary training and development so that fresh ideas can be implemented. The organization should try to maintain a better working environment. Implement innovative marketing. Appoint a market research team to know the day change in the market and product. So as to compete with there competitors, the company should improve their quality products by introducing modern technology. This will improve the quality of their products. The organization should give promotion to the workers on the basis of their performance. Consider the employees suggestion  while taking decision in the organization. To keep daily maintenance in the organization. More advertisement technique should used for increasing sales volume. CONCLUSION This industrial training has been completed within frame work laid down in the objective of the study. This study has depicted the overall performance of the organization and its efficiency. From the analysis, it is clear that the organization has been working under the efficient organizational structure. The study is indicating the production activities, financial, performance, operational efficiency, HR activities etc.from the analysis it is clear that the organization follow a good system of organizational efficiency and effectiveness.

Finding the Best Oedipus Essay Topics

Finding the Best Oedipus Essay Topics Fate is something which is supposedly set out for some one when they're born. Power may be used for destruction, or it may be used to attain greatness. Even the gods cannot change Fate. Therefore, the tragedy of Hamlet is definitely a play of procrastination. This gruesome combination of pathos and humor is the gist of Shakespearean theater. In the instance of Oedipus, blindness was a punishment because of his neglect of the reality. Armed with the truth, he could have avoided committing the sins he fought so difficult to avoid committing. Oedipus the King is thought of as one of the best classical tragedies ever written. Individuals will turn against Oedipus and he'll drop everything. Ideal for students who must compose The Oedipus Plays. Make a complete description of a single character from Oedipus the King. Oedipus Essay Topics - Overview We'll manage them, and for a sensible price, as we understand that students typically don't have plenty of money to spare. You're able to easily depend on us to find essay help as we have a tendency to assist and guide the students with the assistance of our professional experts. These may be the hardest or easiest prompts based on the student. Students lead busy lives and frequently forget about a coming deadline. This has been shown to be an extremely powerful and quick method to assist with a writing assignment and find the business done properly. However, you can be certain that you're getting a fine work for the price tag you're paying. Over time they've inspired many to do the exact same. Some problems take more time to overcome than others. What to Expect From Oedipus Essay Topics? This is a typical condition in the majority of people in actual society. This was also true in many areas of Sub-Saharan Africa. To create a unique issue on the whole action of a throne left. Check from the mountains. Choosing Good Oedipus Essay Topics Once you get your completed essay, be certain that you tell all your friends what a good service it is and what's the ideal place to purchase cheap essays. Thus, for your coursework, you're want to have the very best ideas. Despite the fact that you pay for homework, we provide those options free of charge. Therefore, many students and employees deci de to get cheap essay rather than writing it themselves. The cost of an essay rides on the total amount of effort the writer has to exert. Our writers always create unique content that's absolutely free from all grammatical error. They may require an outstanding bit of writing to have a scholarship for their senior year. Students often discover that almost all of their work on those essays is done before they even begin writing. The very best thing about us is that each time you can buy original essay papers for sale. As an example, in college, you might be requested to compose a paper from the opposing viewpoint. Following that, you'll be able to compose a good paper all on your own without any issues. Using one of our topics will allow you to compose a top quality paper. Ideas, Formulas and Shortcuts for Oedipus Essay Topics There's, clearly, a limit on the variety of pages even our very best writers can produce with a pressing deadline, but usually, we can satisfy all the clients seeking urgent assistance. Obviously, this list isn't exhaustive, these are merely a few examples of the most well-known reasons students turn to writing services. Fortunately our team consists of professional writers which possess the capability to make remarkable content for you. On general statements on these ideas. Additionally, a customer may ask the writer to submit part of the job for review and, if needed, ask her or him to make corrections. After you locate a service you prefer, don't neglect to look at my review of it. It's vital that the service you select knows for sure they're only employing the very best essay writers. Simply speaking, the service exists, so should you need to use it in order to find a top essay, that's reason enough.

Queen Mary and Queen Elizabeth of England - 1626 Words

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