Google core competencies. Google's Mission, Values & Commitments 2022-10-21
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Relatively elastic refers to the degree to which the quantity of a good or service demanded changes in response to a change in its price. When a good or service is relatively elastic, a small change in price results in a relatively large change in the quantity demanded. This means that the demand for the good or service is sensitive to changes in price.
On the other hand, when a good or service is relatively inelastic, a small change in price results in a relatively small change in the quantity demanded. This means that the demand for the good or service is not very sensitive to changes in price.
There are several factors that can influence the elasticity of demand for a good or service. Some of these factors include the availability of substitutes, the importance of the good or service to the consumer, and the percentage of the consumer's budget that the good or service represents.
For example, if a consumer has several substitutes available for a particular good or service, they are more likely to switch to a substitute if the price of the original good or service increases. This means that the demand for the original good or service is relatively elastic. On the other hand, if a consumer has few or no substitutes available, they may be more likely to continue purchasing the original good or service even if the price increases. In this case, the demand for the good or service is relatively inelastic.
Another factor that can influence the elasticity of demand is the importance of the good or service to the consumer. If a good or service is essential to a consumer's daily life, they may be more likely to continue purchasing it even if the price increases. In this case, the demand for the good or service is relatively inelastic. On the other hand, if a good or service is not essential, a consumer may be more willing to switch to a substitute or do without if the price increases. In this case, the demand for the good or service is relatively elastic.
The percentage of the consumer's budget that a good or service represents can also influence its elasticity of demand. If a good or service represents a significant portion of the consumer's budget, they may be more sensitive to changes in price and the demand for the good or service may be relatively elastic. On the other hand, if a good or service represents a small portion of the consumer's budget, the consumer may be less sensitive to changes in price and the demand for the good or service may be relatively inelastic.
In conclusion, relatively elastic refers to the degree to which the quantity of a good or service demanded changes in response to a change in its price. The elasticity of demand can be influenced by the availability of substitutes, the importance of the good or service to the consumer, and the percentage of the consumer's budget that the good or service represents. Understanding the elasticity of demand can be helpful for businesses when setting prices for their products and for policymakers when considering the potential effects of taxes or other price changes on consumer behavior.
Google Core Competencies Essay Example for Free
Evidence used does not clearly support the main argument. The company continuously improves the quality of the above core products and these core products are used to developed array of innovative end-products such as Web Search, Image Search, Translate Tools, Google Apps, Google Docs, Google Earth, Scholar etc. They used to offer efficient products at the nominal price so that all the customers can afford their products. Intel strives for business renewal and revitalisation as a way of dealing effectively with the Premium Strategic management Management Mobile phone. The company has developed close links with various smartphone manufacturing companies by the active contribution of Android OS development. This means that companies can now tailor Premium Mobile phone Time value of money Competence Outsourcing: Positive and Negative Aspects that it provides an almost immediate opportunity for savings resulted from outsides that can often perform certain activities better or cheaper. Greater than the competence of an individual 8.
Core Competencies: Definition & Examples I StudySmarter
Over a period of time Google has built intelligent algorithms to deliver appropriate advertisements based on what user searched. We are available on live chat and email 24 hours a day. Thesis paragraph clearly identifies a demonstrable central argument. We will keep you updated with progress and once done, we put it through our internal quality checks. This is because they rely on the quality of the results shown by Google. Conclusion Considering above facts it can be judged that Google Inc has core competencies in software engineering in content indexing and maintaining scalable hardware infrastructure.
This core competency allows the company to quickly pivot in response to business opportunities or challenges. Invisible to competitors 3. Core competencies gain unique completive advantages to the organization in short and long term basis. Threats include factors that are not favorable for the business. Wide variety of competitive end-products can be developed by using the core products and it creates completive advantages to the corporation in short and long term basis.
Google has cultivated a culture of innovation from its inception and the culture has helped the company to grow rapidly and continuous improvements to its portfolio of products. However, the more common distinctive competencies of a successful business are: You are free to use this image on your website, templates etc, Please provide us with an attribution link How to Provide Attribution? These subsidaries are YouTube, ITA Software, AdMob, and Google Japan. The high prevalence of Google services and its various advanced products that have been developed by utilizing various technologies, skills, researches, etc. Understanding Core Competencies The concept of distinctive competencies revolves around making a collective effort to achieve one goal, i. Google is a very large company and it has subsidiaries of its own. This is a result of its innovative products and heavy expenditure on sales and marketing. This market share has made the improvements for quality of the searching results and targets the ads fastly as compared to the competitors.
Core Competencies in Business: Finding a Competitive Advantage
If not, then you have no real strategy. For example, the company releases a new iPhone almost every year, which emphasizes the fast pace of innovation on the hardware side of operations. The report analyses Google Inc. The most visible application that is running on the Googleplex is the search. Threats: Over the recent years, as the cost of technology has reduced remarkably and become more accessible, many new companies have emerged in the market with similar products and services, making the market very competitive. A company that can quickly adapt to the changing customer needs and other factors such as technology and market conditions is always more successful than those which lack flexibility.
Many Premium Twitter Management Competence Core Competencies of Wal Mart and Honda Instruments for Their Growth Strategic Management Term Paper Core competencies of Wal mart and Honda Instruments for their Growth By: Hari Kiran Babu. Wide variety of competitive end-products can be developed by using the core products and it creates completive advantages to the corporation in short and long term basis. G 0711 Naga Mounica. What makes it an even greater strength is that most of these innovations are patented and very difficult of imitate. G 0723 Sai Krishna Chaitanya 0736 Surabhi Rajan 0749 Sobhan Pavan Tej.
Marketable and commercially viable 12. Core products are the components or sub-assemblies that significantly contribute for delivering the benefits of end-products. It is a strongest brand in the market UK Essay, 2016. Such of success came through a great idea and a successful management. Now, that core competency has faded, and an in-home printed catalog may no longer be viewed as a strength. Weaknesses: Many of the core competencies of Google are dependent on innovation which can have some drawbacks as a lack in innovation or technological errors can seriously impact other core competencies and even the whole business of the company. Once a company has achieved a core competency, it often has a major advantage over its competitors in the marketplace.
Business models and core competencies of Google, Apple, and Facebook
There have been instances in the past where consumer data have been compromised or leaked due to fault in security and insider activity. The company has won dozens of awards for its innovative products and it offers array of commercial and free services and following are some of the major products offered by Google Google Inc, 2010 , Google Search -Web Search, Image Search, Scholar, Earth, Finance etc. This paper examines the importance of striking a balance between organizational structure, design, culture, and strategy in order to achieve stability in a continually shifting organizational environment Conditions Necessary for the Development of Core Competencies development of a core competence? Core Competencies are technical or managerial process that integrates diverse technologies, processes, resources and know-how to create unique offerings to the customers and gains a unique competitive advantage to the organization. Search is simply the most visible application running on the Googleplex. Essential to corporate survival in the short and long term 2. Apple products come with features like iTunes or iCloud, which make it very simple to transfer data from one device to another - may it be a phone or a laptop. Understanding Core Competencies A successful business has identified what it can do better than anyone else, and why.
The mission statements of the Google is that they adopts the culture of the corporate, which is related to the philosophy about making the money by the right way and the work had taken as the challenge, and the challenge has considered as the fun. The areas of business and operations in which the company is capable of performing the best and even better than its competitors, making it distinguished in the market are what comprise its core competencies. Google Ads — AdSense, AdWords, Analytics etc. Whether a company is yet for form or has existed for a while, here are ways for organizations to identify what their core competencies are or could be. Result from a mix of skills, resources and processes 6. The company can also benefit from its loyal consumer base which sticks with Google due to its reputation as a customer oriented company.