Monopolistic competition occurs when the related products or services may seem similar but are not perfect substitutes (Overby et al., 2021). It exists between perfect and monopoly competition by combining their elements, including similar services or products that are not identical. Some products and services of monopolistic competition include clothes, household items, hair salons, hamburgers and soap. They are items that are sold and marketed by different competitive companies. Many sellers in monopolistic completion tend to act independently, whereby they are large in numbers.
An example of a monopolistic competition firm today is restaurants such as Mcdonalds’ and Burger King. They are both fast food chains with a similar market base and offer comparable services and products. Both Burger King and McDonald’s are fast food chains that are actively competing with one another. The only recognition of these products is that they are differentiated through the price, providing different drinks and foods in packages and brand recognition.
Consent in this type of competition is not standard or probably possible since every seller acts independently from the other, and their product and services are almost similar. In monopolistic competition, some sellers always use pricing as the key strategy by opting to lower the price and sacrificing a higher profit margin to make higher sales. In contrast, others may raise their price and use marketing and packaging to highlight how their product is of better quality. The goods and services all serve the same purpose, and sellers use individual branding and marketing strategy to differentiate their interests.
Monopolistic competition is associated with a considerable number of characteristics. Firstly monopolistic competition has low barriers to entry. Monopolistic competition creates an environment favorable for all organizations, and one firm does not monopolize the market: multiple companies can enter the market and favorably compete for the market base. The decisions of other competitors do not influence firms; hence all firms function without the fear of competition. In addition, monopolistic competition is associated with product differentiation. Production differentiation is where the competing companies in a market differentiate similar products through factors such as different brand names, different marketing strategies and different levels of quality for the product.
Firms in a monopolistic competition set the prices for the goods and services they specialize in. The fluctuations of the costs are done harmoniously without the creation of wars, unlike oligopoly, where price fluctuations cause a variety of battles. Nevertheless, monopolistic competition is involved with demand elasticity. Demand is highly flexible due to the instability in the prices of goods and services. For instance, consumers change their purchasing decisions (from one brand name to another) due to price changes for products such as laundry detergents.
Monopolistic competition can perform in both the short-term and long term. Firms within monopolistic competition aim to produce several products and services where the marginal revenue matches the marginal cost (McCalman, 2022). This is significant in maximizing profits and lowering losses. When the existing firms make huge profits, the new firms tend to enter the market. When there are shifts in the demand and marginal revenue curves, the number of new firms entering the market goes to zero. This indicates that new firms stop entering the market since the existing firms are not making profits. In situations where the existing firms are making losses, there is a high rate of firms from the market. A limited number of monopolistic competition firms are left in the market, and they are not making any gains or losses or gains at the moment. This means that the market has attained equilibrium in the long run when there are no entries or exits from the market. And when all the firms make zero gains.
Pros and Cons of Monopolistic Competition
Monopolistic competition has a considerable number of advantages that make individuals prefer it compared to other competitive structures such as oligopoly, monopoly and perfect competition in the market. Firstly, monopolistic competition has few to no significant market entry barriers. New firms interested in joining the market have a limited number of requirements they should meet before starting to operate (Muchiri et al., 2020). Firms under monopolistic competition, such as bakeries and restaurants, can diversify their products through differentiation. Therefore consumers enjoy the freedom of choice and utility of the products. Consistent advertisement creates awareness and thus informs consumers about the goods and services available in the market. Nevertheless, the market base for monopolistic competition is more effective than a monopoly in production and allocation, although less effective than perfect competition.
Firms that operate under monopolistic competition are susceptible to a considerable number of challenges. Ineffectiveness in the allocation of both short-term and long-term markets. This is attributed to the changes in the price of products where the price is above the cost in both short and long-term market allocation. In long-term cases, the company tends to be less inefficient in allocation but still needs to be more effective. Some differentiation activities do not guarantee utility, resulting in the waste of products, such as in terms of excessive packaging. Other activities, such as continuous advertisement due to rebranding products many times, are considered wasteful (Bertoletti & Etro, 2021). Moreover, lack of standardized goods and ineffective allocation of resources are problems associated with monopolistic competition.
Bible reflection on monopolistic competition
However, competition is built in the social system and Western economy, and the bible and Christianity are conflicted on whether God loves competition or wants Christians to avoid it. The answer is more complex. It’s, in fact, everyday work, but is it godly to compete or should Christians do their best to eliminate or reduce competition? It is hard to succeed in monopolistic competition, and sellers may be tempted to seek their advantages at the expense of others. For example, “Then I observed that most people are motivated to succeed because they envy their neighbors. But this, too, is meaningless–like chasing the wind. “Fools fold their idle hands, leading them to ruin.” And yet, “Better to have one handful with quietness than two handfuls with hard work and chasing the wind.” (King James Bible, 2008, Ecclesiastes 4:4-6)
However, at the same time, the competition is beneficial. For instance, most companies have improved their services and goods like mobile phones and airline prices because of the competition in the sector. Monopolistic competition is made up of pressure that may encourage excellence, accountability to consumers, and value creation and may also be dangerous by causing the temptation to disrupt the competitor’s work or deceive customers. But it still creates jobs and wealth and cultivates hope and fear.
Opinion on whether competitive monopoly is overall favorable or unfavorable
This competitive structure, monopolistic competition, could be more efficient and is associated with many problems that need improvement. Monopolistic competition is an imperfect competition that is regarded as inefficient. This is due to various factors such as excess capacity, fluctuating selling prices, the need for more specialization in services and products provided, and unemployment. There is no worth that firms have to engage in a market system with such characteristics that negatively influence them. For instance, the continuous fluctuations of product prices and the rebranding of products cause intensified use of vast amounts of money in advertising. These activities could be more suitable for running businesses since they heighten the prices of products and services hence a company losing both customers and leads.
Furthermore, monopolistic competition is ineffective because it concerns multiple firms that must fully utilize their resources. Even though the firms have a large production capacity, they fail to fully and effectively use it, thus the intensified levels of unemployment. Changes in the number of existing and new firms in the market accompany monopolistic competition. Firms must be assured of consistency in the market and progressive profit-making. This is attributed to factors that work towards maintaining an equilibrium of the market.
Nonetheless, mass production is a complex process. It is irrefutable that monopolistic competition is unfavorable since corporates experience the inability to fully exploit fixed factors, resulting in companies highlighting excess capacity. For both short-term and long-term functioning, companies within monopolistic competition could be more efficient in production and allocation (Ela-Medja & Alberca, 2023).
Bertoletti, P., & Etro, F. (2021). Monopolistic competition with generalized additively separable preferences. Oxford Economic Papers, 73(2), 927-952.
Ela-Medja, T. O., & Alberca, P. (2023). Efficiency and Competitiveness of the Equatorial Guinean Financial Sector. Mathematics, 11(1), 241.
King James Bible. (2008). Oxford University Press. (Original work published 1769)
McCalman, P. (2022). Trade policy with FANG’s (aka trade policy and multi-sided platforms)—Journal of International Economics, 138, 103655.
Muchiri, S., Paraschiv, M., & Wooten, J. (2020). Teaching Economics with Breaking Bad. Available at SSRN 3525829.
Øverby, H., Audestad, J. A., Øverby, H., & Audestad, J. A. (2021). Digital Monopolies and Oligopolies. Introduction to Digital Economics: Foundations, Business Models and Case Studies, 193-206.
Operations Strategy For Industry Sample Essay
The case study organization is Apple Inc., a technological organization that designs, manufactures, and markets tablets, personal computers, wearable devices, and smartphones (Goyal & Gaur, 2023). In addition to this, the organization is also known for its innovative software applications and related services, accessories, and third-party digital content. This is one of the world’s most valuable companies, with over two trillion dollars in capitalization. The most revolutionary product for Apple, however, is the I phone; Apple combines the feature of music devices (I pods) and mobile technology and multitasking and multi-touch on the graphic user interface to enhance customer satisfaction. In this case study, the problem-based question is “How can Apple. Inc maintain its competitive advantage through innovative product design?” this question emphasizes the key strategic area of product/ service design which is the hallmark of Apple’s success. The question highlights the challenges of maintaining a competitive advantage in an evolving and unpredictable industry with many competitors seeking an edge in the market. For instance, consider a technological company like Huawei, or Xioami, who are slowly gaining ground in the technological market by providing the same services Apple provides at a low price and who have been among the first smartphone technology to integrate the 5g network on their devices (Safiya 2016). Therefore, the problem-based question for this case study requires a deeper analysis of Apple’s current product/service design and innovative processes. The organization may need to make some changes to maintain its competitive edge in the market. Also, the problem-based question requires considering external factors such as customers’ expectations and needs, technological advancements, and market trends.
Operation strategies are the plan and the decisions an organization employs to outline its goals (both short-term and long-term) and the methods prevalent in achieving them (Matts & Benlian, 2015). Operations strategies involve making decisions about resource allocation, quality management, supply chain management, technology adoption, and many more areas of business operations. There are various operation strategy examples that an organization can employ to plan effectively for a business’s success and to realize its objectives. Among the operations strategies that an organization can adopt to maintain its competitive advantage include; corporate, core competencies, competitive, supply chain, and customer-driven strategies. In essence, operation strategies are crucial in an industrial context because they enable organizations to create competitive value prepositions in the marketplace. Value propositions are defined as a concise set of benefits an organization offers its customers (those who consume its products and services). The value of the proposition serves as a declaration of intent, both in the marketplace and inside the business. Concisely, a company’s value propositions should be communicated clearly and directed to its customers through its websites or advertising materials. In addition, value propositions need to be persuasive and be able to turn a prospect into a paying customer. In an organization, value propositions are crucial because they significantly attract and retain new customers. For a company like Apple, its value proposition is often to assure its customers of brand equity and a unique product experience. In essence, operation strategies ensure that the organization’s operations are aligned with its objectives and goals and that the value propositions are delivered resourcefully and effectually.
Importance of operations strategies in an industrial context
In an organization, operations strategies are crucial because they enhance product efficiency, help in strategic decision-making, improve customer satisfaction, help manage risks, enhance flexibility, and increase profit (Everton et al., 2014)
Enhancing Product Efficiency
The company’s operations strategies enable industrial organizations to identify the most professional and effective ways to produce high-quality goods and services. Ideally, this involves determining the most thoughtful way to use resources like machinery, labor, and raw materials to minimize waste and maximize production. Consequently, with a proper operations strategy, an organization can improve its productivity while simultaneously reducing costs, which ultimately results in an increase in revenue for the business.
Helps in Strategic Decision-Making
Proper operation strategies can give an organization the needed roadmap for executing its strategic decisions. Concisely, a properly executed operations strategy is essential because it helps organizations make knowledgeable decisions about aspects of the business, such as outsourcing some of the organization’s operations and processes, investing in new technology, hiring new technocrats, or expanding the organization’s production capacities. These strategic decisions are essential for the business’s short-term and long-term success.
Improve Customer Satisfaction
Strategic operations are essential in improving a business’s customer satisfaction. By making decisions about ways to improve the quality of the product, reducing prices for customers, reducing lead times, and providing better services and products for customers, organizations can manage to attract prospects and improve their brand loyalty more effectively.
Helps Manage Risks
Operations strategies can help organizations identify potential risks and manage the prevalent risks in the business. When organizations analyze risks associated with business operations, they can develop contingency plans to reduce the risks’ potential impacts and overall adverse effects. This is prevalent in ensuring that the business operations run effectively and efficiently so that the organization may gain or maintain a competitive advantage.
An organization’s operations strategy is consequential in ensuring that the organization can mitigate crises by being flexible to dynamic and abrupt market changes or customer demands. A proper strategic operation can enable a business to adapt and adjust its production to meet new customer preferences and demands. By doing that, the organization can be able o sustain its operations in both the short-term and the long-term and also manage to flourish where its competitors fail.
The most important reason organizations execute operation strategies is to profit or improve revenue. Therefore, a good operation strategy ensures that a business is profitable by optimizing the organization’s operations and, at the same time, reducing costs wherever possible. However, a good operation strategy needs to prioritize the customers’ needs to ensure they make a profit in the long term. This can be achieved by improving quality and having proper customer relations.
The problem-question for Apple. How can it maintain its competitive advantage through innovative product and service design? The identified problem is critical for the organization’s operations since innovative product designs are one of the key drivers of Apple’s dominance in the technology market. Concisely, Apple products are famous for their brand equity and innovative features, such as making products with sleek designs, elegant and user-friendly products, and environmentally friendly products. Being leaders in innovative product design has led to a cumulative of new prospective buyers and paying customers who have created a loyalty base. And this is the primary reason why the organization is so successful in its operations and stands out from other technology-based organizations. However, Apple must be efficient in its operation strategies to keep this competitive advantage. Concisely, the technology market is always evolving and hence very competitive. New competitors are always coming out with their innovative designs, and the ones present are improving their already competent innovative designs. Therefore, Apple must also keep evolving to stay on the edge of the competition and continue providing for the evolving needs and expectations of the customers. In addition, innovation is essential because it drives organizations to capture new market opportunities. The absence of innovation leads organizations to remain stagnant and hence be overtaken by their competitors resulting in the falling of market shares, declining revenue, and, ultimately, bankruptcy. Alternatively, the problem question is consequential for Apple since it ensures customer loyalty. Ideally, Apple consumers are attracted to the company’s brand equity and unique user experience. Therefore, if the company continues its strategies of providing users with innovative and unique product designs, it will likely attract and maintain its customer base (Heracleous, 2013).
How Operations Strategy Integrates, Aligns, and Interacts with Other Company Strategies
In light of how Apple Inc can maintain its competitive advantage through innovative product design, the selected strategic area of product/service design interacts with and aligns with several other crucial strategic decision areas within the company. Such key strategic areas include; supply chain management, marketing strategy, capacity strategy, and process technology strategy.
Apple. Inc’s strategic area of innovative product design thoroughly aligns with its capacity strategy. Ideally, capacity can be defined as the number of resources available in an organization. This is crucial since it impacts an organization’s ability to meet its customers’ needs and achieve economies of scale (Van Mieghem & Allon, 2008). The capacity strategy in Apple’s company is poised to maintain a higher level of flexibility in its manufacturing operations. Subsequently, this enables the company to quickly adapt, to the changes in demand and product requirements, hence allowing Apple to adequately produce a varied range of products such as I pod, MacBooks, I phone while at the same time maintaining their consistency in making high-quality products and reducing costs, ultimately bolstering the company’s revenue and shares.
Apple’s capacity strategy is also closely allied with its supply chain management. This link is evident since the organization works closely with its suppliers to ensure adequate access to the needed resources and components to guarantee product production. In essence, this is achieved by maintaining close business relations with their suppliers for essential accessories such as display panels and memory chips to ensure they minimize the potential risks of supply chain disruptions.
Finally, apples primary capacity strategy of innovative product designs involves investing in advanced manufacturing technologies like robotics, and 3D printing, to enhance their efficacy and also bolster production capacities. Accordingly, this results in the organization producing huge quantities of products while maintaining consistent end-product quality.
Process Technological Strategies
Apple. Inc is closely associated with the technological process strategy. Apple recognizes that it needs to have the ability to integrate its software and hardware to run smoothly. Ideally, these operations require high control over their manufacturing processes. Therefore, ensuring this ability to integrate hardware and software suggests that the organization’s process technological strategy is fundamental to its ability to innovate in product and service design.
The organization’s process technology strategy involves developing its manufacturing processes to enhance quality, increase efficiency, and reduce costs (Hayes & Wheelwright, 1984). All these can not be possible without investing in high-quality technologies. Therefore, by investing in the needed advanced manufacturing technologies and processes like 3D printing, automation, CNC machining, lesser cutting, and robotics, the organization can be able to create unique and high-quality products with tight tolerance, high levels of precision, and complex designs that its competitors cannot replicate with ease.
Furthermore, Apple’s process technology strategies align closely with the supply chain strategy. Fundamentally, the organization works with its suppliers to ensure they can guarantee the delivery of high-quality components and materials. The organization also maintains close ties with its suppliers, which provides space for working together to develop advanced and unique manufacturing processes and technologies that are essential in ensuring the organization maintains competitive advantage.
Supply Chain Management
Apple’s innovative product designs closely align with its supply chain management strategy. Supply chain management coordinates and manages all activities producing and delivering goods and services, from raw materials to finished commodities (Christopher, 2016). Fundamentally, the company’s value proposition identifies it as about customer experience. Therefore, its supply chain management is poised to build strong and lasting relationships with its suppliers, guaranteeing the available raw materials and other components crucial to its operations. Strong relations with suppliers ensure that the organization is better positioned to manage risks associated with supply chain disruptions.
Apple Inc’s innovative product design aligns with its supply chain management strategy by minimizing the components required to produce its products. This simplifies the supply chain and reduces the risks of supply chain disruptions. One way Apple minimizes the number of components used in a product is by using modular designs, which enables the company technicians to easily remove components from the products without redesigning the entire product. Contextually, these complex technologies have been critical for the company to stand out from the rest of its competitors.
In addition, the company’s supply chain and management strategy are based on sustainability and outsourcing of responsible materials. This ensures that the materials supplied by the suppliers are up to standard and of high quality. Also, the company recommends that the suppliers adhere to environmentally friendly practices and respect basic human rights. Concisely, this involves initiatives such as the use of recyclable materials. By doing this, the company ensures that the world is a better place for everyone and manages to attract environmentally conscious customers.
Apple’s marketing strategy is closely aligned with the company’s innovative product design. Firstly, the company’s focus on innovative product design is a marketing strategy. The company strives to create innovative products and differentiate from the rest of the market. Often, this is achieved by ensuring their products are unique, sleek, visually appealing, and intuitive. Over time, because of this market strategy, they have acquired a strong customer base because of their strong and differentiated brand image (Ferrell, Hochstein, & Hartline, 2021).
In addition, Apple’s innovative design is also closely aligned with its marketing strategy through its pricing. The company prices its commodities at a premium compared to other organizations. This is an unconventional marketing strategy because most other businesses often reduce prices to lure prospective buyers and customers. However, Apple argues that the high pricing is due to the fact their products are meticulously designed to provide the ultimate experience for their customers. Furthermore, the company’s premium pricing helps them target a specific audience (the wealthy customers) who want to associate with big expensive brands because of their status symbol.
Finally, Apple’s unique product designs link to its marketing strategy of creating unique user experiences. To achieve this, Apple’s stores try as much as possible to appear visually appealing and inviting, from how they have arranged the stores to how they interact with clients visiting them. By incorporating simple, unique, and innovative design elements into its products and stores, the company can create an immense user experience, which is consequential in creating a cohesive brand experience.
Operations Strategy Tools, Techniques, and Practices
Operation strategy comprises a variety of practices, tools, and techniques which are prevalent in aiding businesses to achieve their goals. In the context of Apple. Inc, to implement operations strategy for maintaining competitive advantage through innovative product/service design practices, tools, and techniques such as design thinking and cross-functional collaboration. Agile methodology, continuous improvement, lean six sigma, and value stream mapping must be utilized (Clarke et al., 2015).
Design thinking refers to the human-centered approach to innovation that involves understanding the customer’s needs. Understanding customers’ needs is crucial because it enables the company to analyze their preferences and desires and create products and services designed to achieve or satisfy those needs. This innovative approach can be undertaken in several ways; interviews, online reviews, and public forums.
Concisely, cross-functional collaborations are undertaken to achieve the needs of the design thinking approach. To maintain a competitive advantage over other competitors, Apple needs to foster cross-functional collaboration between its designs, marketing teams, and engineers to ensure the design of the final products is per the market demand.
Agile methodology occurs after design thinking; this approach involves breaking down the development process into smaller iterations to ensure that the products are designed rapidly and efficiently to allow for testing. Overall, this process can be applied to guarantee that the new products are developed fast enough to match the customers’ demand and that they are high-quality.
Continues improvement approach involves the company continuously improving or enhancing the quality of their designs. To maintain its competitive edge, Apple must dedicate itself to continuously improving the quality of its products and services. This can often be done via continuous improvement programs that constantly review and optimize product design processes.
Value Stream Mapping
Value stream mapping is a prevalent tool for analyzing and optimizing the flow of materials and information through production since this process documents every step in the design. Therefore, it can be used by Apple. Inc to identify areas needing improvement to ensure customers are guaranteed high-quality products. Moreover, this tool is essential in optimizing the flow of information between teams in the organization to guarantee effective operations and responsibility within.
Lean Six Sigma
Lean six sigma is a methodological approach that combines lean manufacturing and six sigma to enhance the efficacy and quality of a production process in the context of Apple. Suppose it intends to maintain its competitive advantage over other competitors. In that case, it should focus more on lean six sigma since this approach will help reduce waste, optimize resources, and improve the quality of the end product.
Solutions to the Problem-Based Question
Based on the problem-based question, “How can Apple maintain its competitive advantage through innovative product design?” Apple needs to implement several solutions. Among them includes; fostering a culture of innovation, utilizing advanced technologies, and prioritizing user experiences.
Fostering a Culture of Innovation
Creating a culture of innovation is one of the solutions to the problem-based question of maintaining a competitive edge through innovative product design. Cultures of innovation can be created in many ways; encouraging and supporting innovative/creative thinking, risk-taking within the organization, and experimentation. For employees to be able to able to think innovatively within the business, they must be provided with the needed training, emotional support, and necessary resources, creating cross-functional teams for collaboration and also knowledge sharing. Fostering an innovation culture within Apple is essential because it enables it to remain dominant in the technological spectrum. Also, it enables the organization always to push itself to be in the best way possible. If done properly, fostering a culture of innovation can guarantee Apple maintains its competitive edge in the ever-evolving technological market.
A real example of best practice that encourages a culture of innovation is googles 20% policy. Here, google employees were allowed to dedicate 20% of their work to their projects. Over time, this practice resulted in the realization of several innovative ideas. One instance is the innovation of google maps and Gmail. Apple can follow suit and ensure its employees have space to exchange creative ideas (Aurnhammer & Hall, 2014).
Utilizing Advanced Technology
Utilizing advanced technology is a good solution to maintaining Apple’s competitive edge through innovative product design. Advanced technologies are a sure way of maintaining a competitive edge for any business. Applying these technologies can enable the company to develop and design innovative products and services that are prevalent for satisfying the ever-evolving customers’ needs and preferences. The most common advanced technologies that Apple can utilize to improve the efficacy of its operations include; 3D printing, artificial intelligence, and virtual and segmented realities (Agarwal et al., 2022). In the case of 3D printing technology, they can be utilized in making prototypes and models of products rapidly and cost-effectively. This is crucial because it allows the engineers to conduct testing and make the needed improvements to ensure high-quality products.
On the other hand, virtual segmented realities technology can be proficient and effective because it allows designers to find new ways of visualizing and testing product designs, making it easier for them to decipher potential issues. Accordingly, virtual augmented reality technology can help improve the overall user experience and help the company maintain its competitive advantage over competitors. Finally, artificial intelligence can be crucial because it can help explore innovative ways to improve customer satisfaction, analyze customer feedback and identify areas that may need improvement within the company depending on the customer’s needs. Utilizing this advanced technology can put Apple far off from the rest of the technology companies it’s competing with. This can help the company attract new customers and hence increase its revenues.
An example of a best practice based on utilizing advanced technology that Apple can learn from is the application of the digital twin technology, which involves creating digital replicas of products or processes that can be used to test different scenarios in virtual reality. Applying this technology can ensure that the organization test and refine new products before moving them for production, consequently lowering production costs and increasing profits (Liu et al., 2021).
Prioritizing User Experience
Prioritizing user experiences is the most crucial best practice Apple can employ to ensure it maintains a competitive advantage over its competitors. To achieve this, the organization must place its clients at the center of operations and ensure that all products are designed to suit their needs. The organization will attract potential customers and create a strong support base for its existing customers. There are several ways to prioritize customer experiences within the organization, including conducting user research to comprehend the specific needs and preferences of the customers (Buley, 2013). This research can be conducted through interviews, surveys, and focus groups. The main advantage of research is that it ensures that the products are aligned with the evolving customer’s needs and preferences. Another approach can be incorporating human-centered design principles into the product/service development processes. Among the prevalent techniques in achieving this approach include empathy mapping and persona development to understand the user’s needs. The business has yet to have a better user experience than Apple in this scope. This organization has glamorous designs and good customer care to ensure clients’ delightful experiences.
Measuring the Success of the Solutions
There are a few ways to measure the success of the proposed solutions. Among them includes; sales and revenues, customer satisfaction, time-to-market, and employee engagement.
Sales and revenue are good ways of measuring the success of a project. Increased sales and revenue increase after implementing the proposed solutions indicate that the solutions are realistic (Andreas et al., 2014). Customer relations can also be used to measure the success of a project. For instance, an increase in positive reviews about an organization indicates that innovative product design prioritizes citizens and provides them with the needed products. Increased employee engagement is also a good measure of business success (Johnstone & Greg, 2016).
These measures align with the general measurement of operations performed in the organization. Key performance indicators are typically used to measure operations performances. These key performance indicators include delivery, costs, and flexibility. Contextually, by focusing on innovative product designs, the solutions can positively affect the key performance indicators resulting in a general improvement in the operations performance and vice versa. Consequently, measuring the successes of the proposed solutions in these areas indicates that the company’s operations strategies are aligned with the business’s objectives, goals, and strategy.
according to the proposed solutions of fostering a culture of innovation, prioritizing user experience, and utilizing advanced technology to maintain Apple’s competitive advantage through innovative product design. There are likely interactions with the three other areas of the operations strategy matrix: resource usage, value propositions, and marketing strategy decisions.
Marketing Strategy Decisions
The solution can have implications for the marketing strategy decision area. This is because innovative product design and user experience can be critical selling points in advertisement materials. Therefore, stressing these elements can result in a company attracting prospective clients and increasing sales, ultimately increasing revenue.
The solution is closely linked to value propositions, aiming to promote innovation and user-centered products and services aligned with customer’s needs and preferences. Therefore, when a company prioritizes user experiences, it can differentiate itself from potential competitors and enhance its brand image and reputation.
In the case of resource usage, the solution may be to add additional resources in hiring, training designers, upgrading technological capabilities, and research. In the long term, these investments may lead to efficiency and effectiveness in operations, ultimately resulting in profitability.
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Opioid Prevention Brief Sample College Essay
The opioid crisis has been a severe societal problem, hurting people and communities nationwide. It is more crucial to address the underlying causes of this pandemic and develop successful prevention methods in light of the spike in opioid-related fatalities. As a platform for educating and raising awareness among young people at risk of opioid usage, school-based opioid prevention strategies have emerged as a possible response. The article “Awareness, Education, and Collaboration: Promising School-based Opioid Prevention Approaches” outlines some of the effective preventative initiatives adopted in schools and stresses the value of cooperation among diverse stakeholders to combat the opioid epidemic (Markiewicz et al., 2017). It offers a viewpoint on how schools might be crucial in avoiding opioid usage and emphasizes the necessity for ongoing initiatives to address this public health catastrophe.
Summary of the Main Points
The article examines the American opioid issue and offers suggestions for preventing opioid abuse. The author draws attention to the fact that people impacted by the opioid crisis live in rural areas, have poor incomes, and have mental health concerns (Markiewicz et al., 2017). Studies suggest that adolescents misusing prescription opioids also experience mental health issues like sadness and anxiety, putting the juvenile population at risk for opioid abuse. Preventative measures ought to address both the opioid crisis and mental health issues. Promoting open communication, safely disposing of prescription drugs, and expanding access to drug misuse treatment are examples of prevention tactics (Markiewicz et al., 2017). Schools can adopt evidence-based prevention programs and offer support to children experiencing addiction to reduce teenage opioid usage.
The article examines the crisis and provides recommendations for preventing opioid usage in homes, communities, and educational institutions (Markiewicz et al., 2017). He says those living in remote areas, low incomes, and mental health issues are the groups most impacted. Overdoses of opioids resulted in over 49,000 deaths in 2019. Synthetic opioids like fentanyl are the primary cause (Markiewicz et al., 2017).
Studies show that adolescents misusing prescription opioids experience mental health disorders like depression and anxiety. It puts the juvenile population at risk. Adolescent opioid use and dependence can result from early opioid use (Markiewicz et al., 2017). It emphasizes the connection between opioid usage and mental health, with many people turning to opioids to treat their mental disease symptoms. The opioid crisis and mental health issues should both be addressed in effective preventative initiatives.
The article suggests encouraging open communication, safe prescription drug storage and disposal, and seeking help if someone in the family is experiencing opioid addiction to reduce opioid misuse in families (Markiewicz et al., 2017). Increasing access to substance misuse treatment, encouraging safe prescribing practices among healthcare professionals, and launching education and awareness campaigns are a few examples of community-based preventative initiatives. It advises ECSU to create evidence-based preventive programs, educate staff on the warning indications of opioid abuse, and offer support services to students dealing with addiction (Markiewicz et al., 2017). To solve the opioid issue, cooperation among various parties is essential.
The article highlights the risks of the opioid crisis in the United States and the value of preventative measures. The author says it affects everyone, especially those in rural areas, low-income earners, and with mental health issues (Markiewicz et al., 2017). Too much use in adolescence results in dependence. Hence the article emphasizes the significance of preventing opioid misuse among young people. Prevention initiatives should focus on the opioid crisis and mental health issues because many people use opioids to self-medicate the symptoms of mental illness. Promoting open communication, safely disposing of prescription drugs, and expanding access to drug misuse treatment are forms of prevention (Markiewicz et al., 2017). The article makes the case that by implementing evidence-based prevention programs and offering support to children dealing with addiction, schools can avoid teenage opiate consumption.
Markiewicz, J., Swanberg, K., & Weis, M. (2017). Awareness, Education, and Collaboration: Promising School-based Opioid Prevention Approaches. SAMHSA, 1-15. https://www.escneo.org/Downloads/SAMHSAOpioidBrief.pdf