Bargaining Power of Buyers Essay Example for Free

Bargaining Power of Buyers Essay According to Michael Porter, one of the 5 forces that can cause competition and influence a corporation is buyers/consumers. Without customers a business is nothing. Buyers cause corporations to compete against one another by causing them to lower prices and produce higher qualities of goods/services to consumers. The following are when a buying group has the greatest influence. When a buying group purchases large volumes When one buyer purchases most of a supplier’s sales, the importance of that buyer to the supplier is significant. If they stop buying, the supplier takes a dramatic financial hit. When items purchased are standard If all items in a market are similar or standardized, it allows a buyer to feel confident in doing business with other suppliers. Suppliers need to lower prices to keep consumers coming to them. When the buyer faces few switching Costs If a buyer faces little to no costs to switch to another supplier, there is no reason to stop them from switching if a supplier is offering a product for cheaper. Buyers can roam the market looking for the best deal. Suppliers on the other hand may have large switching costs making it hard to change markets. When buyers can backward integrate A buyer may not need to buy from a supplier if they can acquire items from inside the business. An example could be a bakery that requires wheat to make bread. They would backwards integrate by buying a farm with a wheat processor and no longer having the need to buy wheat from a supplier. When buyers product quality doesn’t matter Buyers will be price sensitive if the products they are producing do not require great quality. The buyer will go to whoever is the cheapest.

Being Assertive Essays -- Assertiveness Personality Essays

Being Assertive Assertiveness is an ability to take action in a positive, sincere, respectful, and confident way. It is also an ability to communicate directly using language that is to the point, taking initiative, focusing on solutions, addressing problems, taking ownership of problems, and bringing the problems to a close. Assertiveness can also mean being firm, patient, persistent, pushing someone into action, encouraging, and not compromising on the solution to the problem. Assertiveness requires flexibility tailored to the individual and the situation they are placed in. People usually have three obstacles that keep them from being assertive. They are: poor communication skills, low self-esteem, and a fear of conflict. An assertive response would be: â€Å"I have some concerns about whether the idea will work. My concerns include†¦.Please help me to clear up my misunderstandings.† The assertive person does not focus on winning as such, but rather on negotiating changes to benefit himself or herself and the other parties involved. They are very clear on what they want to accomplish. The communication needs to be planned out in order to sell the idea and not seem as if the assertive person is nagging or dictating. Assertive speaking is an important communication method that is usually paired with active listening. When someone speaks assertively they are expressing themselves in a confident, direct way both verbally and nonverbally. They are speaking up to make a point but allowing for other’s ideas to be shared as well. Being assertive does not necessarily mean being aggressive. These two behaviors are quite different in their manners. Someone who is assertive allows the problem to be discussed whereas someone who is aggressive usually participates in a one-sided conversation with little listening to the other side. Someone who is aggressive usually â€Å"shoots first† before addressing the problem. An assertive person looks at a problem with solutions in mind. An aggressive person is blunt and feels that their solution is the only solution. An assertive person takes charge yet invites other ideas for solutions. An example of an aggressive response might be: â€Å"There’s no way that will work. I don’t like that idea and I don’t know what you were thinking about when you thought of it.† Aggressiveness normally is associated with anger. Anger is a natural emot... ...rectly interpret a situation. If this happens it is important to be willing to admit being wrong. Also, do not stop being assertive in the future with that person. Finally, assertiveness should not be used for intimidation or manipulation. It means standing up for beliefs, expressing anger in a tactful eloquent way, reaching out to others, building self-esteem, and learning to be more direct. It is a method to reach goals, feel good about oneself, and to demonstrate respect for others. Most importantly, do not try to be something out of the ordinary and always take other’s needs and respect into account. References Alberti, Ph.D, R., & Emmons, Ph.D, M. (1986). Your Perfect Right. 5th ed. San Luis Obispo, CA: Impact Publishers. Axelrod, A. (2000). Elizabeth I CEO. Paramus, NJ: Prentice Hall Press. Bower, S. (1991). Asserting Yourself. Updated ed. Reading, MA: Addison-Wesley Publishing Company. Brounstein, M. (2000). Coaching & Mentoring for Dummies. Foster City, CA: IDG Books Worldwide. Fensterheim, Ph.D, H., & Baer, J. (1975). Don't Say Yes When You Want to Say No. New York: Dell Publishing. Smith, Ph.D, M. (1975). When I Say No, I Feel Guilty. New York: Dial Press.

Mcgee Cake Company

Running Header: CASE STUDY 1 The McGee Cake Company: A Case Study Submitter Instructor BUS Course 2012 CASE STUDY 2 Introduction The McGee Cake Company, owned by Doc and Lyn McGee, has been a sole proprietorship company since its inception in 2005 (Ross, Westerfield & Jordan, 2013, p. 18).A sole proprietorship â€Å"is the least regulated form of organization† and has allowed the McGee's to run their company largely as they see fit and to reap all the financial profits. However, the company's recent growth has added additional financial burdens which have caused the McGee's to revisit the company's current form of organization (Ross, Westerfield, & Jordan, 2013, p. 5). To that end, the owners have approached me â€Å"to help manage and direct the [company since its fast growth has] led to cash flow and capacity problems† (Ross, Westerfield & Jordan, 2013, p. 8). What follows is information on â€Å"the advantages and disadvantages of changing the company's organizati on from a sole proprietorship to an [limited liability company] as well as â€Å"the advantages and disadvantages of changing the [company's current form of business organization] to a corporation† (Ross, Westerfield & Jordan, 2013, p. 18). In addition, the McGee's have asked me for my recommendation as to which form of business organization I believe the company should undertake and the reasons/rationale behind my recommendation.CASE STUDY 3 Key Issue The one key issue that has led the McGee's to consider moving the company from a sole proprietorship to a limited liability company or that of a corporation is the company's recent rapid growth. This growth has presented both opportunities and challenges for the company as a whole.Specifically, â€Å"sales have exploded† since The McGee Cake Company was recently featured in â€Å"a leading specialty food magazine† (Ross, Westerfield & Jordan, 2013, p. 18). While this growth has allowed the McGee's to use the comp any's revenues as their sole source of income, it has increased their need for capital as they have had to hire â€Å"additional workers to meet the demand† (Ross, Westerfield & Jordan, 2013, p. 18). Also, additional capital will be needed to purchase more assets in an effort to keep up with the company's continuing growth (Ross, Westerfield & Jordan, 2013, p. 8). Under the current business form these two increased expenditures—payroll and assets–are the sole financial responsibility of the McGee's which may cause some financial stress since their available â€Å"equity†¦ is limited to the amount of [their] personal wealth† (Ross, Westerfield, & Jordan, 2013, p. 5). This growth has also presented the McGee's with the opportunity to enter into business with â€Å"a national supermarket chain [that has proposed] to put four of [the McGee's] cakes in all of the chain's stores† (Ross, Westerfield & Jordan, 2013, p. 18).In addition, the McGee's hav e been approached by â€Å"a national restaurant chain [in regards to] selling McGee cakes in its restaurants† (Ross, Westerfield & Jordan, 2013, p. 18). Again, under sole proprietorship the company may miss out on these opportunities â€Å"because of insufficient capital† to expand the business assets (Ross, Westerfield & Jordan, 2013, p. 5). For example, if the McGee's do not have the capital to purchase more ovens they may not be able to keep up with the increased demand from the supermarket/restaurant chains, potentially causing both business ventures to fail.In order for the company to capitalize on its current growth the McGee's need to be informed of the advantages and disadvantages of other forms of business organizations to determine which will best suit their needs for both the short- and long-term. CASE STUDY 4 Advantages and Disadvantages of Changing from a Sole Proprietorship to a Limited Liability Company â€Å"The goal of [a limited liability company] i s to operate and be taxed like a partnership but retain limited liability for owners† (Ross, Westerfield & Jordan, 2013, p. ). Thus â€Å"[t]he main advantage gained by shifting from a sole proprietorship to a more formal organization [whether it be a limited liability company or a corporation] is liability protection† (Cromwell, n. d. , n. p. ). Under sole proprietorship the McGee's have â€Å"unlimited liability for [their] business debts† (Ross, Westerfield & Jordan, 2013, p. 5). This means that if their business owes creditors and the McGee's are unable to pay with business assets the creditors can demand payment via the McGee's personal assets (Ross, Westerfield & Jordan, 2013, p. ). In contrast, under a limited liability company the McGee's personal assets would be protected â€Å"from business liability† (Cromwell, n. d. , n. p. ). Additionally, the McGee's must rely on their own personal wealth in an effort to raise equity whereas a limited liabili ty company affords the business â€Å"to bring a number of investors and partners† on board in an effort to raise capital (Ross, Westerfield & Jordan, 2013, p. 5; Cromwell, n. d. , n. p. ).Hence, the limited liability company will provide them with the capital they require to increase their business assets in order to keep up with the high demand for their products. In terms of taxes the McGee's currently report their personal and business taxes as one. Under a limited liability company they will no longer be able to claim their business income on their personal filings; separate tax returns would have to be filed for both their personal income and their business income (Cromwell, n. d. , n. p. ).Moreover, the McGee's would have to file documentation with the state prior to their company being able to claim limited liability status. The taxes and state filing issues, in my professional opinion, should not be viewed as detractors. The benefits the company will reap (e. g. , ab ility to raise capital) certainly outweigh the annual taxation preparation and filing with the state to ‘establish' the limited liability company. CASE STUDY 5 Advantages and Disadvantages of Changing from a Sole Proprietorship to a CorporationSome of the advantages of forming a corporation are, in contrast to sole proprietorship, â€Å"owner-ship [of a corporation] can be readily transferred† (Ross, Westerfield & Jordan, 2013, pp. 5-6). Also, like a limited liability company, a corporation has â€Å"limited liability for the company's debts and [stockholders] can only lose what they have invested† (Ross, Westerfield & Jordan, 2013, p. 6). In addition, unlike sole proprietorship, a corporation an unlimited [business] life† (Ross, Westerfield & Jordan, 2013, p. ). For these reasons, a corporation is a superior form of business organization for raising capital (Ross, Westerfield & Jordan, 2013, p. 6). Along with the advantages of forming a corporation comes t he main disadvantage: taxation. Corporations must deal with double taxation â€Å"meaning that†¦ profits are taxed [at both] the corporate level when†¦ earned and again at the personal level when they are paid out† (Ross, Westerfield & Jordan, 2013, p. 6).While a corporation provides many advantages the tax disadvantage that comes with it currently outweighs those advantages. CASE STUDY 6RecommendationWith The McGee Cake Company's rapid growth it is in need of changing its form of business organization. In particular, the McGee's â€Å"need enhanced protection for [their] personal assets from business obligations and liabilities as well as a better vehicle to attract investors† (Cromwell, n. . , n. d. ). Therefore, after carefully weighing the advantages and disadvantages of changing from a sole proprietorship to a limited liability company or that of a corporation my recommendation is for the former. Becoming a limited liability company will benefit them gr eatly since it provides limited liability in that their personal assets will be separate from their business assets, thus protecting their personal assets from creditors seeking payment if such a situation should ever arise.Becoming a limited liability company will also allow the McGee's to raise equity through partners and investors. Since the McGee's are in need of additional capital to purchase new business assets in an effort for them to keep up with the current demand for their products a limited liability company would allow them this advantage. Since this rapid growth may continue the McGee's may want to revisit becoming a corporation. However, my recommendation is for them to take the next logical and less daunting step and become a limited liability company for the reasons stated above.CASE STUDY 7 References Cromwell, J. (n. d. ). Demand Media: The Advantages and Disadvantages of Changing the Company Organization from a Sole Proprietorship. Retrieved from http://smallbusi ness. chron. com/advantages-disadvantages-changing-company-organization-sole-proprietorship-24632. html Ross, S. , Westerfield, R. , & Jordan, B. (2013). Fundamentals of Corporate Finance (10th ed. ). McGraw-Hill/Irwin: New York, NY

The Contribution of Patient Case Studies on our...

Although it shares cognitive neuroscience’s roots, cognitive neuropsychology has developed into a discrete discipline. While cognitive neuroscience studies neural organisation of the brain, cognitive neuropsychology concerns itself with the brain’s functional architecture; Coltheart (2010) describes this as a distinction between brain and mind. According to, among others, Coltheart (2002, cited Coltheart, 2010) this makes cognitive neuropsychology a branch of cognitive psychology rather than neuroscience. Patient case studies have played a critical role in developing cognitive neuropsychology into a separate discipline, although data from case studies can support and even progress cognitive neuroscientific findings about neural†¦show more content†¦Initially patients with brain damage were studied with the aim of understanding and treating their disorder. This was the case for Phineas Gage, who developed behavioural changes after a tamping iron passed through his brain in 1848 (Harlow, 1868, cited Jansari, 2010). However, progress in the field of cognitive psychology has enabled the development of complex theoretical models of cognitive function and improved research techniques. Advances in technology have given researchers the tools to view damaged brains before death and compare them to normally functioning, intact brains. As a result, a more challenging aim of cognitive neuropsychology has emerged: understanding and explaining normal cognitive processes. This is achieved b y studying a deficit in cognitive function in a brain-damaged patient and making inferences about intact cognition. For example, Shallice and Warrington’s (1970, cited Hitch, 2010) investigation of patient KF with acquired brain damage showed that he had an impaired auditory digit span but normal intelligence and performance in long-term learning and memory and understanding spoken language. This supported a dissociation between short-term memory and long-term memory initially proposed by Atkinson and Shiffrin (1971, cited Hitch, 2010). Thus a model of the intact memory system is developed or supported, which in turn explains memory deficits in patients with brain damage. Coltheart (2010) lists nine areas of cognitive processing, identifiedShow MoreRelatedCognitive Psychology And Our Understanding Of Human Mind1219 Words   |  5 Pages Pollyanna Patriota de Almeida Evaluate the contribution of cognitive Psychology to our understanding of human mind. 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