A Buisness Concept That Changed History

In: Business and Management

Submitted By vboyd09
Words 315
Pages 2
Business Concept That Changed History

A business concept that has changed history

Over the last 40 yrs there have been several changes that have occurred in the retail industry that has changed the way we shop today. The business concept of most department stores goes back in history for hundreds of years, but it has evolved and changed over the last forty years. Initially most retail stores were independent and locally owned in the city they conducted business in. Department stores were identified by the products they sold. There were hardware stores, furniture stores, toy stores, clothing stores, grocery stores, and even produce stores. Consumers went to specific stores to purchase specific items.

Local specialty stores were replaced by the supermarket. These new superstores specialized in fruit, vegetables and food items, while others went in the opposite direction offering their customers non food items as the core of their business. Consumers were able to purchase essential products that included clothing, furniture, appliances, toiletries, cosmetics, jewelry, toys, and even sporting goods from one location. This had a bad effect on smaller stores as owners were unable to compete with the bigger chains that offered consumers a wide variety of products.

Over the last 20 to 30 years, we have seen these supermarkets evolve into yet a different shopping environment for consumers to shop. For example, stores such as Wal-Mart and Target have expanded their product line and introduced grocery sales, in addition to the products they sold. Wal-Mart introduced this new concept in their Hyper-Mart stores, while Target opened their new Super Target stores. Consumers were able to go to one store and purchase anything from a toothbrush to fresh meat products. At some Hyper-Mart stores, consumers…...

Similar Documents

Buisness Terms and Concepts Part 3

...University of Phoenix Material Understanding Business Research Terms and Concepts: Part 3 Determine which level of measurement— nominal, ordinal, interval, or ratio—is used in the following examples. • The Association of Accountants is conducting a survey to determine the ranking of the top 100 accounting firms in the world. RATIO • How many years did it take you to earn your college degree? ORDINAL • On a questionnaire which asks for gender, males are coded as 1 and females are coded as 2. NOMINAL • Respondents are asked to rate a list of high-tech companies as excellent, good, fair, or poor in terms of their service delivery. ORDINAL • Cereal brands are arranged in an ordered sequence in which an equal interval exists between each point. INTERVAL • LeBron James wears the number 23 on his jersey. NOMINAL • The length of time it takes the winner of a marathon to cross the finish line. ORDINAL • Students are asked to rank computer manufacturers. ORDINAL • The brand of charge card used by a customer. NOMINAL • The pin number used to access your checking account. ORDINAL Which sampling method—simple random, systematic, stratified, cluster, convenience, judgment, quota, or snowball—is most appropriate for the following examples? • The unemployment rate is calculated each month by the U.S. Bureau of Labor Statistics. The survey consists of 50,000 households in about 2,000 counties and cities......

Words: 732 - Pages: 3

Buisness

...Social Movements Trends Earlier in America's history, it was unheard of for a woman to be in both the public and domestic sphere.   Women were forced to spend most of their life in the domestic sphere, and wear ridiculous clothes every day.   For a long time, women have been degraded and pushed around, causing women to initial movements to change the way society treats women.   In America, "the land of the free", women have to fight for their equal rights.   Reformers, such as Fanny Wright, Susan B. Anthony, Elizabeth Cady Stanton, Amelia Bloomer and many more have done so through their actions, and speeches.   Nevertheless, in recent times fashion has become an available source of expression. It is a powerful tool to be able to be seen and not heard--but still get the message across. Since its humble beginnings, fashion has oftentimes just existed, but in the past century, it has existed as a form of expression, art, and liberation   Now, women are still being influenced and challenged by the media and their peer, but slowly, more and more women are standing up for themselves. Before the early to mid 1800's, women were forced to squeeze into corsets made of whalebone, steel or buckram.   It gave them the figure eight profile which resulted on a number of health problems, including their organs and body to become deformed.   Over the corsets, women wore heavy layers of petticoats despite the weather.   (Small Business Administration 3) Dresses emphasized the bust and......

Words: 1009 - Pages: 5

A Business Concept That Has Changed History

...Scott A. Victor Student ID: AC1305363 EN120 – English Composition 1 Assignment 06 08/31/2013 A Special or Unusual Person Abraham Lincoln is perhaps the nation's ideal self made man. His struggle to prevail humble beginnings, achieve the apex of success, and by establishing the abolition of slavery, which remains one of the most cherished themes within the Lincoln legend and, indeed, within all of American history. Lincoln himself nurtured this tradition of humble origins to steady his own rise from obscurity to distinction. Throughout his life, Lincoln dispraised his own parentage and childhood rather than embracing them (McAfee, W 2004). In fact, Lincoln self consciously grounded his entire political career within the context of a personal triumph over inherited adversity (Winkle, K .J. 2001). During his very first campaign for public office, he declared, "I was born and have ever remained in the most humble walks of life" (Burlingame, M 1997). Thirty years later, Lincoln was still sounding the theme of his own humble beginnings. Running for president in 1860, he noted that both his parents had came from "undistinguished families" (Winkle, K .J. 2001). He described his youth as physically hard and culturally unrewarding. The biography Lincoln authorized for his presidential campaign pictures his family as poor and uneducated, and concluded that it would be difficult to conceive of more unpromising circumstances than those under which he was introduced into......

Words: 945 - Pages: 4

Buisness

...buisness assignment By: Abbas Jomaa Due: 29/03/2013 Teacher: MR El Masri Subject: Business studies Business studies assignment Page 1 ………. Business title page of the report Page 2 ............ Table of content Page3........... Executive summary Page 4................ Why goods and services are central to both marketing and operations Page 5.................... Examine why ethical behaviour and government regulation are important in marketing including one example of ethical behaviour and one example of a NSW or Australian government requirement Page 7............... Assess why a mix of marketing and promotional strategies are important in the marketing of goods and services Page 9............. Identify the elements of a SWOT analysis. Explain how a situational analysis assists in a business planning Page 11...... Bibliography Executive summary Operations is the business process that involves transformation or, more generally production. It is a term that applies both to the manufacturing and service sector. It involves the turning of raw materials and resources into the outputs of finished goods or products. Marketing is a total system of interacting activities designed to plan, price, promote and distribute products to present and potential customers. As consumers are constantly exposed to all aspects of marketing consumers might be mislead or manipulated into buying a product that does not meet the requirements it is......

Words: 1851 - Pages: 8

Buisness

...as well as my leisure activities such as the internet and downloading. After researching on websites (futureshop.com) and reading flyers for Future Shop and Best Buy, I noticed that the marketing they were advertising was inadequate do to the fact that the price offered online and in the flyers was incorrect at the store or at most times out of stock. As well I felt that not every customer paid the same price. After conversing with a school mate about my lap top hunt I came to a realization that" it's not always what you know it's who you know". I would travel back and forth to both Future Shop and Best Buy for note books in stock, and each time a Sales persons would give me a price the next time I would return the price would have changed from employee to employee. As a customer I would have felt cheated paying my money at Future Shop or Best Buy knowing that another customer probably had gotten it for cheaper. I needed a company that put their customers first and not having commission as a first priority. I began to think of companies that have been around and have excellent quality products pre existing. After researching once again I noticed that Apple had exactly what I was looking for the customer first qualities, as well as an existing product, which is the I phone that I currently possess. I then invested in a two thousand dollar Mac Book. There were many cheaper lap tops that I could have chosen from however, Apples marketing strategy caught my attention.......

Words: 555 - Pages: 3

A Business Concept That Changed the World

...Andre Jones AC1208431 EN130.1.1 English Composition 2 Assignment 03 10/11/13 A business concept that has changed history Over the last 40 years there have been several changes that have occurred in the retail industry that has changed the way we shop today. The business concept of most department stores goes back in history for hundreds of years, but it has evolved and changed over the forty years. Initially most retail stores were independent and locally owned in the city they conducted business in. The products they sold identified department stores. There were hardware stores, furniture stores, toy stores, clothing stores, grocery stores, and even produce stores. Consumers went to specific stores to purchase specific items. The supermarket replaced local specialty stores. These new superstores specialized in fruit, vegetables and food items, while others went in the opposite direction offering their customers non-food items as the core of their business. Consumers were able to purchase essential products that included clothing, furniture, appliances, toiletries, cosmetics, jewelry, toys, and even sporting goods from one location. This had a bad effect on smaller stores, as owners were unable to compete with the bigger chains that offered consumers a wide variety of products. Over the last 20 to 30 years, we have seen these supermarkets evolve into yet a different shopping environment for the consumers to shop. For example, stores such......

Words: 358 - Pages: 2

Buisness

...expertise of an individual in the common domain shared by the collective as well as the experience with applying such expertise. Consequently in this study cognitive capital is represented by the individual's knowledge self-efficacy. It is best captured by the individual expertise relevant to the group interests. Having cognitive capital or knowledge to share is a necessary but not enough condition to contribute knowledge to the community. It is even more important to believe that one is able to provide knowledge that is worth sharing. Ardichvili et al. (2003) reported that the fear of an individual that his knowledge is not important or valuable to other members is a strong barrier against knowledge sharing in communities of practice. A concept similar to 9 self efficacy; sense of self worth resulted in higher knowledge sharing attitudes among organizational members (Bock & Kim, 2002; Bock, Zmud, Kim, & Lee, 2005) and members of Facebook groups (Pi et al., 2013). Knowledge self efficacy was also a significant predictor of intentions to share knowledge in a Wikipedia community (Cho, Chen, and Chung, 2010), intentions to continue updating blogs (Lu & Hsiao, 2007), as well as intention to share knowledge in general purpose virtual communities (Liao, To, & Hsu, 2013). Kankanhalli, Tan, and Wei (2005) found knowledge self efficacy the strongest predictor of knowledge contribution to electronic knowledge repositories. Hsu, Ju, Yen, & Chang (2007) found knowledge self efficacy to......

Words: 5029 - Pages: 21

Khmer Rouge Modern History Concepts

...declared the Year Zero, not only was he restarting the calendar, he was also destroying everything the Cambodians knew and felt comfortable with. Ownership of property became non - existent and money became worthless. People and homes were taken from their families and marriages became arranged. The government dictated and ruled every aspect of the Cambodian peoples’ lives. For the Khmer Rouge, children were central to the revolution as they believed they could be easily moulded, conditioned and indoctrinated. They could be taught to obey orders, become soldiers and kill enemies. Children were taught to believe that anyone not conforming to the Khmer laws were corrupt enemies (Holocaust Memorial Day Trust, 2014). The social hierarchy changed dramatically, in many ways the roles of particular social classes were completely overturned. During a genocide attack such as this, it is very hard to believe such a thing could happen, but indeed it did. The eldery who were once respected and looked up to were cast aside to make room for the soldiers who were fed and lived well, the soldiers were previously common peasants. Age as a status seemed to have again reversed as very young children became the focal point for the Democratic Kampuchea (Khmer Rouge), they were considered to be the only pure people in society and were taken to become soldiers. In 1978, Vietnamese troops invaded Cambodia, capturing Phnom Penh in early 1979. A moderate Communist government was......

Words: 1415 - Pages: 6

Buisness

... Examination Paper of Managerial Economics c. Incremental costs d. Sunk costs 7. Condition when the firm has no tendency either to increase or to contract its output: a. Monopoly b. Profit c. Equilibrium d. Market 8. Total market value of all finished goods & services produced in a year by a country’s residents is known as: a. National income b. Gross national product c. Gross domestic product d. Real GDP 9. The sum of net value of goods & services produced at market prices: a. Government expenditure b. Product approach c. Income approach d. Expenditure approach 10. The market value of all the final goods & services made within the borders of a nation in an year. a. Globalization b. Subsidies c. GDP d. GNP Part Two: 1. Discuss the concept of Demand Schedule. 2. Explain the law of ‘Diminishing marginal returns’. 3. List the various forms of Market Structure. 4. What are the various methods of measuring national income? END OF SECTION A Section B: Case lets (40 marks)     This section consists of Case lets.  Answer all the questions.  Each Case let carries 20 marks.  Detailed information should form the part of your answer (Word limit 150 to 200 words).  Examination Paper of Managerial Economics The war on drugs is an expensive battle, as a great deal of resources go into catching those who buy or sell illegal drugs on the black market, prosecuting them in court, and housing them in jail. These costs seem particularly exorbitant when dealing with......

Words: 1303 - Pages: 6

Buisness

...learners with understanding and skills relating to the fundamental concepts and principles that underpin the marketing process. Unit abstract This is a broad-based unit which gives learners the opportunity apply the key principles of marketing. Firstly, the unit looks at the definitions of marketing, and what is meant by a marketing orientation and the marketing process. Next, learners consider the use of environmental analysis in marketing and carry out their own analyses at both macro and micro levels. They will also investigate the importance of market segmentation and how this leads to the identification and full specification of target groups. Learners then consider buyer behaviour and positioning. The unit looks at the main elements of both the original and the extended marketing mix. This includes an introduction to the concept of the product life cycle, new product development, pricing strategies, distribution options and the promotion mix. Finally, learners will develop their own marketing mixes to meet the needs of different target groups. This includes considering the differences when marketing services as opposed to goods. A range of other contexts is examined including marketing to businesses instead of consumers and the development of international markets. Learning outcomes On successful completion of this unit a learner will: 1 Understand the concept and process of marketing 2 Be able to use the concepts of segmentation, targeting and......

Words: 1374 - Pages: 6

Buisness

...& Managing Director of Bajaj Electricals Ltd., started his career with Bajaj Sevashram after which he worked at Bajaj International, the group's export company. Mr. Shekhar Bajaj joined Bajaj Electricals in 1980, became the Managing Director in 1987 and took over as the Chairman and Managing Director in 1994. Mr. Bajaj is the Chairman of Bajaj Group companies Bajaj International and Hercules Hoist Pvt. Ltd. and on the Board of Directors of Bajaj Auto and IDBI Bank. He was the President of ASSOCHAM, former President of Indian Merchant Chambers (IMC) and Council for Fair Business Practices (CFBP). Brief history of our Company Our Company was incorporated as Radio Lamp Works Limited under the Indian Companies Act, 1913 as a public company limited by shares, pursuant to a certificate of incorporation dated July 14, 1938. Subsequently the name of our Company was changed to Bajaj Electricals Limited, pursuant to a fresh certificate of incorporation dated October 1, 1960. In 1964, Matchwell Electricals (India) Limited, ("Matchwell"), a manufacturer of electric fans became a subsidiary of our Company and subsequently, with effect from July 1, 1984, the business and undertaking of Matchwell was amalgamated with our Company. In the financial year 1993-1994, our Company entered into a joint venture with Black & Decker Corporation, United States, for the manufacture and marketing of power tools, household appliances, and related accessories, through a separate company......

Words: 8494 - Pages: 34

Buisness Concept Paper

...Table of Contents Executive Summary 1 The Product 2 Business Concept Statement The Product/Service The Customers The Product Value The Business Model Marketing Aspect * Market Entry and Growth Strategy Target Market Market Size Marketing Strategy Competitor Profile Competitive Advantage Production Aspect * Technology/Innovation Scope Suppliers Management Team Manpower Financial Aspect * Initial Investment Annual Sales Annual Expenses Annual Income Return on Investment Executive Summary The Food Box is a retailer of home cooked meals which addresses the needs of undergraduate UPLB students living in dormitories or apartments for low-cost meals that can be acquired anytime despite time constraints. The product is a food box, patterned from Chinese paper boxes, wherein the food and drink are contained in one vessel with specific divisions. This would enable the students to consume their meals while they are walking or in transit. Meals will be prepared only when an order is placed to ensure the quality and freshness of the product. Aside from this, the Company chooses not to add preservatives to the meals to provide a healthier option. Market Size Competitive Advantage The financial team projects its start-up costs to sum up to a total of 87 071.75 pesos. Majority of these funds will be used to build the first facility, pay......

Words: 2306 - Pages: 10

Buisness

...adrenaline boost to corporate morale is a direct reflection of the organizational leader’s directives; these alternatives can assist in guiding executive management’s vision. Analysis of Alternatives The hiring of Marie Jackson, was the initial step in transmogrifying and transforming the culture of the company. The newly appointed CEO quickly realized that in order to combat low morale that is currently wafting through the company, was only going to happen if everyone was involved. This prompted Marie Jackson, in her first month, to capture the attention of every employee by creating virtual town hall meetings as a way of connecting with all employees, and reflecting that the apathetic characteristic of the organization must be changed and will only happen if everyone is involved. Action alternatives were proposed as a secondary plan to the actions that were currently taking place. Team-building is a proven activity that creates harmony and unison amongst the group. This activity has a characteristic of strengthen the connective fibers of the team, while acknowledging the weaknesses the group possess also. These are powerful notion to incorporate team-building exercises in a company’s daily business practice. It places the group in a scenario to trust everyone’s instinct, while the group postulates a collective plan moving forward. This in part is the negativity that can be associated with team-building as well. People tend to get complacent, and solely rely......

Words: 3372 - Pages: 14

Business Concept That Changed History

...A business concept that has changed history Over the last 40 yrs there have been several changes that have occurred in the retail industry that has changed the way we shop today. The business concept of most department stores goes back in history for hundreds of years, but it has evolved and changed over the last forty years. Initially most retail stores were independent and locally owned in the city they conducted business in. Department stores were identified by the products they sold. There were hardware stores, furniture stores, toy stores, clothing stores, grocery stores, and even produce stores. Consumers went to specific stores to purchase specific items. Local specialty stores were replaced by the supermarket. These new superstores specialized in fruit, vegetables and food items, while others went in the opposite direction offering their customers non food items as the core of their business. Consumers were able to purchase essential products that included clothing, furniture, appliances, toiletries, cosmetics, jewelry, toys, and even sporting goods from one location. This had a bad effect on smaller stores as owners were unable to compete with the bigger chains that offered consumers a wide variety of products. Over the last 20 to 30 years, we have seen these supermarkets evolve into yet a different shopping environment for consumers to shop. For example, stores such as Wal-Mart and Target...

Words: 728 - Pages: 3

Buisness

...Ford Motor Company Organizational Analysis and provide superior customer service self-directed learning will provide the vehicle needed to accomplish this task. Through Self-Directed Learning the Ford Motor Company can deliver consistent training to all employees globally. All employees can learn at their own pace and time. Through this type training employees will have immediate resources at their fingertips to assist the customer’s. Ford employees will also gain the self-confidence and motivation needed to flourish in their positions. Slide 3 & 4: • Pros and cons of a different delivery method “ Slide 5 & 6: Self-Directed learning can be very beneficial for the Ford Motor Company to achieve the new Ford One Concept as addresses in the needs analysis. Employees can become empowered to take on more individual responsibility in learning through this method. They will develop more self-confidence, increase moral and achieve a greater satisfaction in the work environment. Leading to the achievement of the company goal as stated in the needs analysis, Superior Customer Service and “One Ford” philosophy....

Words: 438 - Pages: 2

angel o demonio english subtitles | AmeriGeddon BLuRayRip | Přiléhavé šaty