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25176096
Week 2: Strategic Planning and the Business Plan - Discussion
Social Responsibility and Stonyfield Farm (graded)
After watching the video on Stonyfield Farm answer this question: “The responsible thing
to do is to identify and examine every potential for doing good and make some kind of
investment there.” How has the company’s CEO set about to improve his company
according to these words, and what remains to be done?
Responses
Responses are listed below in the following order: response, author and the date and time the
response is posted.
Response
405687570,405876
Author
404937640
Social
Responsibility
and Stonyfield
Farm
Date/Time
0
Seth Schwable
11/4/2012 1:00:52 AM
Gary Hirshberg mentions in the video that his company tries to waste as little product as
possible. One of the examples is the milk they cannot package. Rather than pouring it down a
drain, they give it to another farmer who can feed it to his pigs. Hirshberg also comments that
he would like to move away from plastic containers and recycle more than 60 percent of waste.
405876743,406161
405687570
404937640
RE: Social
Responsibility
and Stonyfield Noel Ulep
Farm
11/5/2012 3:32:58 PM
I can agree that a business does get a better looking image if they do everything they
can to make every good potential decision like with Stonyfield farm wasting as little
products a possible. However the reason why other companies don't do this is because
it takes time away from doing the real business. Big businesses usually only want to
make money at the ned of the day whereas business like Stonyfield farm do their part
in trying to make use of all their products and recycle them as much as possible.
Personally I'm not that proactive so I wouldn't care if my company went green or not.
406161744,406658
405876743
405687570
RE: Social
Responsibility
and
Seth Schwable
Stonyfield
Farm
11/5/2012 8:25:19 PM
Nice post, Noel. Being organic and green definitely play a big part in
Stonyfield's success and customer demographic. When you read the news,
though, it seems more and more company's --even Exxon!, are trying to
market themselves as green in order to endear themselves to customers.
Your post makes me want to research tax incentives for going green. Is it
mostly a PR move, in order to look socially responsible or can going green
actually make good business sense regardless of what business you are in?
406658901
406161744
405876743
RE: Social
Responsibility
and
Noel Ulep
Stonyfield
Farm
11/6/2012 1:58:46 PM
Personally I see it as making your business look good in the eyes of
the consumers of course thats my opinion. Unless going green not
only saves me money but also helps generate revenue and profit, I
could careless about my "social responsibilities" I'm in the business
degree to make money for myself and my employees not to "look
good" in the yes of people. If going green meant more money all
the time then I would be all gung-ho for it but I've seen instances
where businesses that have tried to go green failed because it was
too much effort and employees weren't taking it seriously.
406658901
406161744
RE: Social
Responsibility
and
Annie Haro
Stonyfield
Farm
11/7/2012 4:18:53
PM
I agree Noel, big businesses will put on a show for the
consumers saying they are going green and trying to help
save the earth but who really knows? For some
businesses they will say one thing and in actuality they
are doing the complete opposite but behind closed doors.
406687928,407378
406283997
405687570
RE: Social
Responsibility
and
Nicole Mendez
Stonyfield
Farm
11/6/2012 6:41:20 PM
At least you are honest about not caring if your company went green or not
but it only takes a few companies to turn into more companies and then
maybe most companies would be green in a few years. Most small businesses
have the ability to go green or at least take the time to do certain things to
try to help the environment like having bag recycle bins or conserving energy
by cutting back on electricity or using energy saving bulbs. It just depends to
what extreme a business is willing to go to save the planet and help people
out. I think by Stonyfield giving away it's in-usable milk rather than throwing
it away shows they are willing to use what they have have rather than
wasting and I commend that. It is the little things a company can do that
makes a big impact on the community.
407378613,408893
406687928
406283997
RE: Social
Responsibility
and
Noel Ulep
Stonyfield
Farm
11/7/2012 5:17:26 PM
I commend businesses trying to go green and live up to their social
responsibilities but we don't really know for certain if the business
is doing it because they feel like they should and its the right thing
or if they just want a good image with the public with garter more
clients. I just see the "going green" thing as a phase that requires
extra work and I don't see the real benefit for it other may maybe a
few cuts in costs but other than that its not anything special with
me. Plus like you said, a big business would have a much harder
time going green than a small business due to the sheer size of
each business. A bug business could have an entire building and
thats a lot of work to change one floor let along the entire
establishment whereas a smaller business could be a house or
something small and it wouldn't be as costly to go green.
408893103
407378613
406687928
RE: Social
Responsibility
and
Christopher Akpan
Stonyfield
Farm
11/8/2012 9:24:27
PM
I see your point... Yes, it may be harder for a larger
company to transition over to a more green company, but
it is doable. The mere fact that a company wants to do it
is great. You have to think as a whole it will help reduce
waste in landfills by recycling, and much more. Is it a
phase? In my personal opinion, I'm not sure because
homes are even transitioning over with more energy
efficient windows, reducing the cost of your heating bill. I
understand that everyone is entitled to there personal
opinion, but realisically thinking cars are more energy
efficent also, helping reduce smog in the world.
408893103
407378613
RE: Social
Responsibility
and
Annie Haro
Stonyfield
Farm
11/11/2012
11:41:19 PM
I agree chris, it will cut cost by going green but
when there trying to sell there product doesn't it
cost more because it is a green product?
408790284
404937640
RE: Social
Responsibility
and Stonyfield Derrick Woodley
Farm
11/11/2012 8:38:18 PM
I think the most important value that Stoneyfield thrive on is the fact that they are
very concern about being environment friendly. The owner states that they recycle up
to 60 percent of waste and has a goal to become 100 percent of recycled waste.
404949704
Welcome
to the
Week 2
threads!
0
Professor Bryan
11/4/2012 4:37:22 AM
Hello class, welcome to the Week 2 discussion! Please be sure to join the converstation by
Wednesday in both threads. Thank you! Jon
405481007
Please
post
early!
0
Professor Bryan
11/5/2012 3:54:27 AM
Hello class, please be sure to post early in the week, and not later than Wednesday, in each
thread. All students will benefit from your early contributions!
Thank you! Jon
406302024,407075
405841240
Stonyfield
Farm
0
Oscar Coroy
11/5/2012 7:40:17 PM
The CEO states that he will not be satisfied until his company produces a 100% recyclable
product. He wants all his waste to be recyclable as well. He believes that simply stating that you
are organic isn't enough. A company can not say they are saving power in one department but
pollute the air in the other(which most companies do). His company invests 10% of their
company's profit to organic farms, clean energy, new technology, etc. to help the environment
and the company be cleaner.
407075854,408636
406302024
RE:
Stonyfield
Farm
405841240
Charma Phillips
11/6/2012 7:11:37 PM
Modified:11/6/2012 7:14 PM
Oscar great post! After reviewing the video I think the CEO
attitude towards producing 100% recyclable products is being
very responsible because when products are recyclable we all
know it's good for the air. What I didn't understand was how
can you give so much attention to one area ( saving power)
but lack finding a solution to keep the air clean and pure.
Maybe increasing investments to aid the organic farms would
give the company a boost,produce clean energy and continue
to create new technological products. But it also goes back to
what the customers need supply and demand. I just feel the
investments can be greater. Who doesn't want to breathe
clean air and be able to gain profits from organic farms and
products.
407075854
406302024
RE:
Stonyfield Fabromiya Monsanto
Farm
11/8/2012 12:22:30 PM
I understand where you are coming from Charma. I
love that they did help the economy with all the loyalty
of recycling. So I would think this was their was of
keeping the air clean. When you recycle you are
preventing more pollution from going into the air. I
think if every business was loyal the way Stonyfield
Farm is we would reduce the amount of pollution and
help the environment.
408636281
406302024
RE:
Stonyfield Oscar Coroy
Farm
11/11/2012 5:01:38 PM
Thanks Charma! As being Eco-Friendly continues to trend with customers and
businesses, supply and demand for products like Stonyfields will only
increase. I believe that 10% of all profits going towards foundations thriving
for a better earth is great! That is a huge percentage to invest in! Maybe if
they focused on investing into one business at a time instead of spreading
the wealth we would see a bigger impact. Either way, they are investing
much more than most companies are. One company can only do so much
right?
406274922,406306
406005714
RE:
Stonyfield
Farm
405841240
Professor Bryan
11/6/2012 3:45:40 AM
Oscar and class, great comments! Stonyfield has marketed its
environmental and organic "roots" very successfully. Consumers will be
loyal to a company that they can relate to and offers a sense of social
responsibility. That is a niche that many small businesses successfully
achieve, and they are often are able to charge higher prices due to that
marketing success. Comments? Examples? Jon
406306807
406274922
406005714
RE:
Stonyfield Seth Schwable
Farm
11/6/2012 6:25:24 PM
Modified:11/6/2012 6:25 PM
It is a matter of supply and demand. The reason consumers pay the higher
prices is because there is little choice in the marketplace. These smaller
businesses are picking up consumers from a niche market that larger
companies overlook because of the prohibitive costs. If the larger companies
all offered green and organic products, they would offer lower prices than the
smaller companies and drive them out of business. But this is unlikely since
the biggest concern for consumers of products and services often is cost, and
competing corporations will always focus on offering a better deal than the
competition.
406306807
406274922
RE:
Stonyfield Bret Luckenbaugh
Farm
11/6/2012 7:19:54 PM
Seth, I think you are dead one with the fact that the big
corporations will always be pushing a better deal than the other
guy. Supply and demand as you said. I do have hope that we as a
country will begin to migrate to something along the lines of what
Stonyfield Farm is implementing. Watching a quick video may not
give us the whole story of what they are doing, but the idea of
supporting local suppliers will ultimately be beneficial because it will
have a positive impact on our economy. Maybe up front not
everyone will be able to purchase the higher priced items or not
even want to, but the more we support this idea the more money
will be kept in house and hopefully put this country in a slightly
better economic stance.
My family doesn't buy all organic by any means, but we do shop at
a local farmer's market for simple things such as milk, eggs, fruits
and vegetables, etc. The company that we buy the milk from has
reverted back to glass bottles to cut down on waste (and probably
overhead), but nonetheless it is a positive outcome. After the
refund from returning the bottles the milk is on average only about
$.10 more expensive than your big name brands from the grocery
store.
406366199
406005714
RE:
Stonyfield Fabromiya Monsanto
Farm
11/6/2012 9:06:19 PM
With Stonyfield selling quality it is well worth paying a little more
for what your getting. I love their loyalty to try to maintain a
healthy planet and sell healthy fruits, yogurts, milk, and even
smoothies.
406851585
406005714
RE:
Stonyfield Eric Underwood
Farm
11/7/2012 9:27:22 PM
There will always be a group of the population that is overly price conscious
yet when I worked in a retail establishment and was a part of marketing
meetings and strategy, every study we looked at showed price being less of
an influence than many other factors. At our store we really strove to
establish rapport with our customers. It was through the building of a
positive relationship and trust that eased the anxiety of a buying decision and
brought in repeat customers. Instead of sellers we worked to be educators
and to help the customer come to an informed decision. Small businesses
have a great edge in the relationship business. They are not a corporate face
but a member of the community. Operating decisions are made with the
community and its people in mind because that business is a part of that
neighborhood. It is easier to trust a CEO that you will see at the pizza parlour
or at church and who can come meet with its suppliers face to face, instead
of a CEO in a super high rise building in some far off big city. It is the
building of those bonds that allow a socially responsible company to have a
strong message and a strong impact.
408794613
406005714
RE:
Stonyfield Derrick Woodley
Farm
11/11/2012 8:44:01 PM
I agree that they can charge higher prices for the higher quality of foods. The
main reason for Stoneyfield success is that they invest in the best products
and pay their farmers higher salaries. Also with the eco-friendly process it's
not only the best tasting yogurt but it is the cleanest and most environmental
friendly process.
405927606
accomplish
the mission
0
Stephen Nichols
11/5/2012 9:37:37 PM
The CEO is saying that he is trying to run his company using the principles of organic food and
being environmentally conscious applied to all areas of the business. When he talks about
improving the company he refers to applying these principles more broadly and to a greater
degree. He means wasting less and reusing more. On financial lines the CEO is saying that the
company is doing better than competitors because they are organic and because their food is
healthier than others. His reference to what remains to be done does not seem to include
making more profit but rather accomplishing his mission.
406306263,407201
406248203
Social
Responsibility
and Stonyfield
Farm
0
Derek Taylor
11/6/2012 5:34:58 PM
Stonyfield Farm is company that relies on product quality and environment safety. The way that
they conduct their business to benefit their customers is both environmentally friendly and
appealing based on the quality. They stand for a safe environment while distributing a top of the
line health friendly product for their market. They succeed by having good morals and customer
appreciation for their excellent yogurt and the health safe process in which they conduct their
business.
407201671
406306263
406248203
RE: Social
Responsibility Charma Phillips
11/6/2012 7:18:54 PM
and Stonyfield
Farm
Derek good post! Do you believe consumers are more
interested in quality products or the investments being done
to make the products at Stonyfield even more safer and still
focus on profit? Having a good quality product and a safe
environment usually is not as important to a consumer than
how much the company is gaining a profit and how much is
going back into the companies product to make it better.
407201671
406306263
RE: Social
Responsibility
and
Derek Taylor
Stonyfield
Farm
11/8/2012 5:06:46 PM
I think that in this instance both the product quality and the investments are
what keeps their customers loyal. They found a niche by marketing their
product as healthy and consumers responded positively. I think that it
depends on what your target market is to determine which factor is more
important. In some instances making the product affordable to a certain
market and also producing product that can compete with competitors quality
is the most important factor.
406304710
Social
Responsibility
0
Betty Nelson
11/6/2012 7:16:12 PM
The CEO just added even more socially responsibilities. For
example, to cut down waste, they use rejects from the
plastic container production as feed stock to make handles
for toothbrushes and razors. About two cups go into each
handle. Stony-field Farm just need to catch up with the rest
of the business and advertise that they are going green. (
Hatten, 4th Edition, Small Business Management,
Entrepreneurship & Beyond)
406383259
Stoneyfield
0
Vincent Hyatt
11/6/2012 9:47:29 PM
Stoneyfield farms is an example of a new generation of companies that have recognized the
repercussions of a monetarily driven system. Both the people and the environment suffer. As
these companies rise up, they will stand out, gain attention and bring attention to the doorstep
of traditional doers. Being socially responsible should not set a company apart, they should be
the majority, and those who refuse should stand out. We as the consumers are have the power
to change this, but we must take a stand.
406396174
Stonyfield
Farm
0
Tonya Rojas
11/6/2012 10:23:35 PM
Trying to be as environmentally consious as they can not only can improve his
company but it helps the environment too. Being the first certified company, they
paved ways for others. Support, profitability, quality, environmental stuartship
are 4 of 5 improving areas they are working on. He seems pretty humble and he
knows that there is still work to do and his work isn't done yet. Reduce, resuse,
and recycle.
406691280,406929
406433502
Laws and
regulations?
0
Professor Bryan
11/7/2012 3:39:08 AM
Class, new question from Chapter 3 of the text. Discuss some of the laws that
generally regulate business activity in this country, and give some historical
background on the major laws that affect all entrepreneurs today. Jon
406929842,407428
406691280
406433502
RE: Laws
and
regulations?
Betty Nelson
11/7/2012 5:23:43 PM
Small business owners face a never ending job of
keeping up with the laws and regulations by which
they must abide. One problem is that the wording of
many laws and regulations is often baffling and easy
to misunderstand. A second prolems for small
businesses is the enormous amount of paperwork
required to generate the many reports and records
mandated by regulations. This paperwork imposes
time and resource burdens on business owners who
are often strapp for both. A third problem is the
cost.(Hatten, 4th Edition, 2009, Small business
Management Entrepreneurship & Beyond)
407428044,408154
406929842
406691280
RE: Laws
and
Professor Bryan
regulations?
11/8/2012 3:33:48 AM
Betty and class, excellent feedback on the laws and historical
background. To review, four groups of law are:
· Consumer: Consumer protection became popular with
Ralph Nader in the 1960s. Some government agencies
that protect consumers are the Food and Drug
Administration (FDA) and the Consumer Product Safety
Commission.
· Competition: This includes such acts as the Sherman
Antitrust Act of 1890 and also the Federal Trade
Commission (FTC) set up to prevent unfair trade
practices and prevent monopolies from occurring.
· Environment: The Environmental Protection Agency
(EPA) was created to enforce and deal with the complex
environmental laws.
· Equality and Safety: The Civil Rights Act of 1964 was
started to deal with many different kinds of
discrimination. There is also the ADEA and American
with Disabilities Act (ADA) to deal with disabilities and
age discrimination. Some of the control agencies are
the Equal Employment Opportunity Commission (EEOC),
dealing with equality, and OSHA, dealing with issues of
health and safety.
Of course, there are many more, and new legislation almost
every day! Comments? URLs? JON
407428044
406929842
RE: Laws
and
Stephen Nichols
regulations?
11/8/2012 11:03:43 PM
At least in the tech industry the patent scene (I think this falls
under competition) looks to be getting ugly. It seems like you can't
innovate anymore without patent trolls claiming to have prior rights
to your work. They don't even make claims that are likely to hold
up in a court. They just want settlements and to set precedents
where they win in court so they can use it against other companies.
This seems like a major threat to anyone starting a company in a
tech industry. You can't do it without having a lawyer for backup
anymore.
408154619
406929842
RE: Laws
and
Charma Phillips
regulations?
11/10/2012 5:23:09 PM
Professor while reviewing the laws that were
regulated to protect consumers I often wonder
how entrepreneurs who are involved with food
products how much are they actually governed
by the Food and Drug Administration? Also
when someone opens a restaurant what is the
exact role of the owner to it's customer in
regards to making sure their products are safe?
With so many salmonella cases arising is the
agency not equipped to properly protect the
consumer or is it they don't have enough staff
to oversea every situation. I'm asking because I
just noticed a vendor who used to sell Jamaican
food from his cart and now has a store front
without the proper sticker in the window , but
still is selling food. Is this illegal?
407727262
406433502
RE: Laws
and
regulations?
Ddungu Wasswa
11/9/2012 5:53:06 PM
Examples of laws that affect all businesses, including start-ups, are the
environmental laws. Businesses can’t contaminate water sources by dumping
harmful chemicals on rivers or lakes. Businesses can’t have gas emissions
into the air that are too polluted either. Other laws that everybody has to abide
by are related to minimum wages; these are important laws because start-ups
are oftentimes strap for money. Minimum wage laws have been in effect
since the 1930’s, when there were created to make sure the unemployment
pressured back then didn’t degenerate in people getting paid very little in
exchange for having one of the few jobs available at the time.
408806428
406433502
RE: Laws
and
regulations?
Robert Smith
11/11/2012 9:00:13 PM
I plan to start a manufacturing business that will utilize electrically powered machinery
and chemicals. The Occupational Safety and Health Administration has regulations that
will regulate how I may run my business. That means that I will have to research what
regulations correspond with my business and make plans to abide by those
regulations.
406533513
Social
Responsibility
and Stonyfield
Farm
0
Ddungu Wasswa
11/7/2012 11:06:21 AM
There are several things that he does that are in agreement with his sense of social
responsibility. For example, when he has excess milk produced in his farm he doesn’t
through away the excess. Instead he gives it to the neighbor that can use it to feed its
pigs. Another example is his inclination towards conservation. He wants to use fewer
plastic containers and also to do some recycling.
The Stonyfield Farm is benefiting from its pro-environment and “doing the right
thing” strategy. These socially responsible guidelines can set businesses apart and
attract loyal clienteles that are of a similar mindset. An example we see in the real
world is Starbucks. Starbucks has programs in many developing countries where it
supports small farmers and pays them a fair price for their coffee grains. Consumers
are aware of these programs (which Starbucks publicizes) and many consumers
appreciate and value Starbucks for its socially responsible actions in the developing
world.
There is the other side of the coin: if a company were exposed in public as abusing the
environment or shortchanging farmers in the developing world, then there would be a
backlash from the consumers. We see this often when companies are exposed as
sourcing their manufactured products from sweatshops in Asia. That is bad PR even if
it helps the bottom line.
406583885
RE: Social
Responsibility
0
Christopher Akpan
11/7/2012 1:14:06 PM
Modified:11/7/2012 1:28 PM
CEO Hirshberg seems to be very concerned with his company, and how it
can help reduce wasting time and money all together. With his company
he used old materials to make other things like toothbrushes and so
forth which I thought was a great idea. Doing things like going
green, recycling were very important needlessness to say. If yu
really think about it, more and more companies are converting over to
a more eco-friendly place of business. Prime example, many of your
local super markets like Publix, and Whole Foods offering their
customers reusable grocery bags for a small fee. Also many family
homes are going green, so I think that if their company could put
their business out their by advertising, having great customer
service will show people that his company is eco-friendly too.
406658274
Stonyfield
0
Nicole Mendez
11/7/2012 4:17:28 PM
After watching the video I have realized that the company is actually quite remarkable. They
give their in-usable milk to pig farmers up the street, they use 60% recyclable items and use
their lids as a way to advertise their beliefs and standards to get them a crossed to consumers.
It only takes one company to show others how it can be done. I do not think this way of
business could work as well with a large manufacturing company but some steps could still be
followed. Stonyfield would still like to increase their recyclable amount to 80% in the near future
but as of right now in my opinion they are doing a great job. I never really understood what
organic meant and wondered why people would spend double the price for organic when in
reality we do not know if the produce is actually organic or if the farmers are just saying it is. I
am a huge conspiracy theory person who feels if people can cheat they will and it seems like
organic food could be an easy way to prosper but after watching the video I might put more
thought into going organic and finding ways to incorporate it into my life.
406811863,407146
406679640
Stonyfield
Farm
0
Sheena Davis
11/7/2012 5:01:28 PM
I can watch the video, but I'm not able to hear the video because the computer i'm using has no
speakers.
407146360
406811863
RE:
Stonyfield
Farm
406679640
Moira Johnston
11/7/2012 8:26:32 PM
Sheena, You can veiw the transcript instead. The video ran a
couple seconds slower than the sound on my computer, so
reading it may be better anyway!
407146360
406811863
RE:
Stonyfield Sheena Davis
Farm
11/8/2012 3:10:05 PM
Thanks for the help, that will be my next step
407416033
406721001
Stonyfield
Farm
0
Charles Edwards
11/7/2012 6:13:31 PM
After watching the video I Think he is on the right path and is doing
more than a lot of others in his position. He adopted ways to
improve the environment while cutting cost. I thinks as ways come
about to improve more he will.
407416033
RE:
Stonyfield
Farm
406721001
Audrey Dawson
11/8/2012 10:33:14 PM
Charles I agree, I believe Greg will be more into what can his company doing in the
near future to give make, then merely to make a profit.
406810176
Potential...
0
Moira Johnston
11/7/2012 8:24:05 PM
I love this statement. Mr. Hirshberg set about to improve Stonyfield
Farm by following the 3 R's- Reduce, Reuse and Recycle
responsibly. For example, instead of letting yogurt go to waste, they
donate it to a pig farmer. He also states that they use "lighter
weight cups to use less oil. We try to create a reusable container
that you can reuse. And we've partnered with toothbrush
companies, for example, to collect cups and recycle them."
However, I think that the most important statement Mr. Hirshberg
mad was about his hope for the future of his company to use
compostable, biodegradable cups, "But the reality is, is that we
won‟t be – we won‟t be responsible by my definition until we have a
completely compostable, biodegradable cup that you can put in your
backyard as fertilizer to grow more plants."
406868496
Social
Responsibility
and Stonyfield
Farm
0
Auneidra Jefferson
11/7/2012 9:57:03 PM
In order for the company to "identify and examine every potential for doing
good and make some kind of investment there", he has placed a person on his
team to oversee operations to identify places where there can or need to be
improved. That's person brings every possibility to the table for the company
to reach it's goal of becoming environmentally conscious and responsible for
helping to maintain the planet for future generations. That's why they've come
up with ways to not only be organic but to also (eventually) diminish their
waste (like sending residual milk to other locations for further use) and also
bring social awareness to others (the lid campaign).
What remains to be done is for them to come up with a biodegradable
container for their product. But in the meantime they're trying to come up
with ways to reduce THAT waste by having reusable containers and so forth.
By constantly examining the company and it's operations I think the CEO will
always find a way to be the truly organic company he wants it to be.
408072818,408739
406929870
Competitive
analysis?
0
Professor Bryan
11/8/2012 3:34:25 AM
Class, new question from Chapter 3 of the text. What is the value of competitive
analysis to the small business owner? What should you know about your
competition, and what analytical methods can you use to find out this
information? JON
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408072818
RE:
Competitive
analysis?
406929870
Fabromiya Monsanto
11/10/2012 2:21:51 PM
The great thing about competition is it will keep you up to par
with what you are selling. You have things to compare it to
versus having nothing to compare your product to. You want
to find out where your competitors are vulnerable. So one
thing you can so is act like a customer and dish out the
details. You will figure out what their positives are and what
their weaknesses are. You can then compare and seek out
your weak and vulnerable areas are and improve your
business from there. From there you should know what
makes your prospects want to buy from you. Whether it is
quality, quantity or just the price. Being positive and
confident in your selling products is a technique in helping
you sell your products as well. Learn from either your
mistakes or mistakes of others. Then a great point is to look
for fresh and new ideas for your business.
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408072818
RE:
Competitive Christopher Akpan
analysis?
11/11/2012 7:30:53 PM
Well said, Monsanto. On my current job, as a Sales Manager with the car dealership I'm
employed with, I do alot of price comparison. Basically, like you said, you want to see
what your competition looks like. It gives you some type of idea of knowing if your items
that you are selling is priced correctly. Whether your price is just right, or too high, at
least you as the producer knows why your product isn't selling like hot cakes as they
say... One thing that I personally like to do is, go on my competitors website and
compare there e-price of a vehicle to ours with same make and model. I think this is a
good way for us as the company to have an idea, and the consumer also, so they can
see they are being given a fair deal on their product.
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RE:
Competitive
analysis?
406929870
Ddungu Wasswa
11/9/2012 11:27:10 PM
Modified:11/10/2012 12:01 AM
Competitive analysis can tell a business owner what are the best areas to
focus on, and how to gain market share on competitors. A small company
should focus its efforts in areas in which it’s strong and therefore can gain
market share over competitors, while selling profitable products/services.
You can investigate the strengths and weaknesses of your competitors, the
products they sell, their prices and margins. Most companies collect and store
large amounts of data about their processes, customers, suppliers, and
competitors. Properly analyzed and interpreted, this data helps improve
competitiveness and profitability. An example is Amazon.com which collects
and analyzes data from its customers to personalize product offerings and
marketing strategies. Amazon’s data mining algorithms are responsible for
giving each returning customer a personalized display of products the
customer might find appealing based on prior browsing and purchasing
patterns.
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RE:
Competitive Charma Phillips
analysis?
11/10/2012 5:38:02 PM
Good post Ddungu
Just to add when it comes to competition there are no
set rules about it. Learning as much as possible about
other companies can also give a competitive edge
without the other's even knowing it. Most consumers
are concerned about the cost of most items and I think
using a secret shopper to research prices is also
helpful. I guess the best way to explain this is to
simply know the competition and understand what
makes them popular and successful among their
customers.
The first step in a competitor analysis is to identify the current and
potential competition. As mentioned in the "Market Strategies" chapter,
there are essentially two ways you can identify competitors. The first is
to look at the market from the customer's viewpoint and group all your
competitors by the degree to which they contend for the buyer's dollar.
The second method is to group competitors according to their various
competitive strategies so you understand what motivates them.
Once you have grouped your competitors, you can start to analyze their
strategies and identify the areas where they are most vulnerable. This
can be done through an examination of your competitors' weaknesses
and strengths. A competitor's strengths and weaknesses are usually
based on the presence and absence of key assets and skills needed to
compete in the market.
www.entrepreneur.com/article/25756
407161740
RE:
Competitive
analysis?
406929870
Tonya Rojas
11/8/2012 3:45:16 PM
Ways to find out information about the competition:
• Read articles in trade publications. A proliferation of specialized publications in every
industry makes your gathering easier—for example, read Progressive Grocer if you are
selling food products, or Lodging Hospitality if you are interested in travel
accommodations.
• Listen to what your customers and salespeople say about competitors. These groups
make the most frequent comparisons of you and the competition.
• Keep a file on key competitors. Information is useless unless you can access it easily.
Include published information, notes of conversations, or competitors sales, product,
or service brochures. These readily available sources of information can help you
determine how your competitors position themselves.
• Establish a regular time, perhaps a monthly meeting, to meet with key employees to
evaluate the information in these competitive information files.
• Attend industry trade shows, exhibits, and conferences. A lot can be learned from
competitors’ booths and through the networking (or socializing) that goes on at such
events.
• Buy competitors’ products and take them apart to determine their quality and other
advantages. Consider incorporating the best elements of competing products into your
own products. This process is called reverse engineering and is part of a process of
establishing comparison standards called benchmarking.
• Consult published credit reports on your competitors. Companies like Dun &
Bradstreet (D&B) make standard credit reports available. See what D&B says about
the competition.
Ref:
Small Business Management: Entrepreneurship and Beyond (Ch. 3)
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RE:
Competitive
analysis?
406929870
Betty Nelson
11/8/2012 6:13:36 PM
If you were forced to condense the description of your
business down to the one factor that makes you
successful and sets your business apart from all other
similar businesses, you would recognize your
competitive advantage, which is found by means of a
competitive analysis. The heart of your company’s
strategy and reason for being in business is your
competitive advantage. You must do something better
than everyone else; otherwise, your business isn’t
needed.(Hatten, forth Edition, 2009, Small Business
Management, Entrepreneurship & Beyond). What you
should know about your competition is "everything",
how do you fine out this information, with spies, of
course, and the book dosen't mention this idea.
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RE:
Competitive Professor Bryan
analysis?
11/9/2012 5:30:04 AM
Betty and class, excellent feedback on competitive analysis!
By doing a competitive analysis, you can find out your
competitors’ weaknesses. Once you know their weaknesses,
you can do it “better,” giving your business the competitive
advantage. You should find out as much as possible about
your competitors and keep current. Some of the methods to
use are the Dun and Bradstreet credit bureau, trade
publications, and customer comments. Examples? URLs? JON
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Social
Responsibility
and Stonyfield
Farm
0
Robert Smith
11/8/2012 5:05:23 PM
One of the first things that impressed me was the organic process by which Stonyfield produces
their yogurt. It does cost more, but to make up for the cost of producing a quality organic
yogurt Stonyfield save money in other ways. Stonyfield doesn't advertise as much as other
yogurt manufacturers. Stonyfield also finds ways to save money by reducing waste and
producing packing materials that use less plastic. They also use recycled materials and reuse as
much materials and byproducts as possible. I was impressed how they use food waste as feed
for hogs. That not only creates less waste, but provides an inexpensive food source for other
livestock. Essentially, that reduces the waste that stonyfield produces, and reduces the cost of
raising hogs.
The CEO did mention that he hopes to someday have a yogurt container that is biodegradable
enough to use as fertilizer in a garden. That is something that I would like to see happen. I don't
imagine it's possible, given that the moisture content of yogurt would make the container
degrade to fast to be a viable container. However, I imagine that Stonyfield will come up with
some good ideas in the future. They've already got me considering eating yogurt.
407572459
407200892
RE: Social
Responsibility
and Stonyfield Audrey Dawson
Farm
11/9/2012 11:09:57 AM
Robert, I too was impressed on how Stonyfield manufactures their organic yogurt. I
didn't think on how this company helps other companies such as the donation the
waste to other local business for their pigs. This to me is giving back, and also a way
to not harm the environment. As you mentioned it would be interesting to see how
Stonyfield will come up with the biodegradable containers. Great comments!
407415382,407676
407389475
Stonyfield
0
Sheena Davis
11/8/2012 9:41:53 PM
I feel he was able to improve his company by getting personally involved and economically
involved. I like the fact that no matter who wanted to merge with this company he kept his
mission and dream alive, active, and on going no matter the situation. This company was able to
teach, encourage, and learn from its consumers.
407676049
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RE:
Stonyfield
Audrey Dawson
11/8/2012 10:31:44 PM
Sheena,
I too like the company was able to improve on being personally and economically.
Although every business goal to make a profit, he ultimate goal was to be responsible
in how and what he produced. I liked the fact he never wasted product that was made,
instead made it possible to be a serves to a local business. Greg is truly a responsible
CEO
407676049
407415382
RE:
Stonyfield Sheena Davis
11/9/2012 3:44:05 PM
Yes! That is great I also like the fact that the materials that he chose to use
are reusable.
407413283
Stonyfield
contribution
0
Audrey Dawson
11/8/2012 10:27:09 PM
The Ceo of this company is taking every measure to make sure the company is not contributing
to waste, but utilizing all materials in the organic business he has founded. Greg is making sure
his excess waste is not simply going in to the garbage like left over milk, but stores this milk and
gives to the local pig farm for their feed. This is not only helping locals, but is keeping the
discard from being thrown away. The company is making sure that every possible way.The
company has improved in my opinion because they are always giving back by giving to
environmental causes.Like Greg mentions that it is important to invest into a company and
make sure you are doing what is responsible instead of making sure there is a profit.
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407468954
0
RE: Size of
business
Professor Bryan
plan?
11/9/2012 5:30:58 AM
Modified:11/9/2012 5:31 AM
Class, new question from Chapter 4 of the text. Why wouldn’t a 100-page
business plan be four times better than a 25-page business plan? Jon
407834603,407935
407569497
407468954
RE: Size
of
business
plan?
Audrey Dawson
11/9/2012 11:02:32 AM
I would say potential investors are not wanting to ready an overly detailed business
plan. The are wanting to see how they are going to be paid back, and how long is it
going to take you to make the profit necessary to pay them back. So basically 25 page
business plan can sum this up perfectly.
407935737,408321
407834603
407569497
RE: Size
of
business Eric Underwood
plan?
11/9/2012 9:45:17 PM
This is a perfect examination of quality over quantity. A business plan does
not pay by the word but by the strength of the planning and the organization
of the ideas and methods to accomplish the goals of the entrepreneur. If an
entrepreneur were to over analyze the methodology of the business they
might become trapped and overwhelmed in the details and minutiae of the
processes. Having a clear, succinct strategy and the methods outlined on
how to achieve the goals is enough. Then the company can be flexible
enough to change as new information arises or new challenges pop up. A
business plan must also communicate well and by overwhelming the people
that need to receive the communication can hamper the effectiveness of the
message.
407935737
407834603
RE: Size
of
business Tonya Rojas
plan?
11/10/2012 8:29:17 AM
That is a great way of describing the difference Eric.
Having to much to go through can mean more you might
have to change. Thinking to much and to much
information can be overwhelming. When you know what
you want and what you want to do, it shouldn't take 100
pages to explain. Taking your idea and putting it on
paper is never an easy task but once you do, running
through it again and again gives you a chance to edit and
condence to a reasonable size business plan.
Writing a business plan is a long process of progressive
steps that generally follow a sequence. Investors see
dozens of business plans daily so making yours as clear
and informative as possible, while keeping short and to
the point is always a better option.
408321547
407834603
RE: Size
of
business Audrey Dawson
plan?
11/10/2012 10:06:44 PM
Yes communication is very important, your correct if the investor is
interested then they will probably request more information.
408527423
407834603
RE: Size
of
business Nicole Mendez
plan?
11/11/2012 1:23:09 PM
I agree with you about the this is a perfect example of quality over
quantity. A 100 page business plan just does not seem like it would
be concise enough for the reader to understand the actual plan. I
feel like that would be over kill and most likely contain too many
ideas rather than a plan of attack. Over analyzing is a big problem
when it comes to a business plan and starting a company, yes in a
business plan a person is supposed to account for costs and losses
and what-ifs but I think that too many what-ifs contradict the
actual plan. I am building a business plan right now and I have
gone to different bars to ask questions on daily costs and
prospective costs and there is no way I could write a 100 page plan
that would not be overwhelming for the reader.
408188200,408194
407897769
407569497
RE: Size
of
business Professor Bryan
plan?
11/10/2012 5:35:07 AM
Audrey and class, I enjoyed your comments on the
appropriate length of the business plan! A 100-page
business plan wouldn’t be four times better than a 25-page
business plan because a plan needs to be concise. If your
plan is over 100 pages, it reflects a need to sharpen your
ideas. Twenty-five pages should be enough detail to
communicate the important points of your business.
Comments? Examples? JON
408188200
407897769
RE: Size
of
business Charles Edwards
plan?
11/10/2012 6:24:51 PM
Modified:11/10/2012 6:26 PM
I agree, I think of it as a business resume. No
employer wants to read a 5 page resume, all they
want to know is the fact relevant to the job. With 100
pages it will seem like you haven’t finished planning.
408330968
408194728
407897769
RE: Size
of
business Stephen Nichols
plan?
11/10/2012 6:35:57 PM
This isn't completely on topic but I would like to know if business
plans are something that need to be practice. In real life, how good
does a business plan really need to be versus other factors? I feel
like the business plan and resume are kind of related in that there
isn't one right way to do it, only the hope that the right eyes will
see it. I saw on a documentary about Silicon Valley that Intel
approached their investor without a business plan and was still
successful just based on their reputation. I realize that is a pretty
ridiculous to expect in the real world.
Something Ventured. (2011). [Video]. Retrieved from
www.netflix.com
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408194728
RE: Size
of
business Audrey Dawson
plan?
11/10/2012 10:25:48
PM
That is interesting business plan verses a resume. I never
would of considered that a resume would be significant
enough to detail what the business is about. Im interested
to know would the resume be lengthy or just summarizing
main points of the business?
408742752
407975465
407897769
RE: Size
of
business Bret Luckenbaugh
plan?
11/10/2012 10:18:06 AM
I don't think we would be out of line to compare a good business
plan to a good resume. You want to hit the big points and explain
them, as well as be knowledgeable on every speck of information
within it. What you don't want to do is drag information out and
bore the potential investor/employer. Handing them a book may
deter them from being interested in your ideas because they may,
quite frankly, not want to waste their time dealing with you.
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407975465
RE: Size
of
business Audrey Dawson
plan?
11/11/2012 7:35:47 PM
Bret,
Yes hitting the main points is a good concept to
incorporate in a good resume. That is exactly what a
resume is giving points of what something is about, so
yes this to me is a great way to show an potential investor
who is interesting in your business.
408114231
407468954
RE: Size
of
business
plan?
Derek Taylor
11/10/2012 3:57:51 PM
If your business plan was that fluffed full of information it would be hard to highlight
the details of the project to who you are presenting your business plan to. In my
expereince thorough information of statistics and target market are necessities that
are required in a business plan. Brief summaries with well researched and precise
points highlighted with a graphic visual is more effective than long paragraphs and
extensive word use.
408362158
408164506
407468954
RE: Size
of
business
plan?
Charma Phillips
11/10/2012 5:42:03 PM
If I was an investor I would not have a lot of interest in
reading a long, over drafted business plan that may not have
anything to offer to my company. Size does not always
matter. Most investors want to get right down to business
while eliminating all the extra red tape. Time and money is of
the essence and who wants to spend all that time reading a
100 page plan when they can skim through 25 pages and
point out what they would like to further discuss.
408362158
408164506
RE: Size
of
business Moira Johnston
plan?
11/10/2012 11:45:34 PM
I agree, Charma. 25 pages to get straight to the point is much more
sufficient than a larger business plan that would confuse investors. I also like
what Professor Bryan said about needing to be more focused when it comes
to your plan if it is 100 pages. If I was an investor and had to read a drawn
out plan, I would think the entrepreneur was unorganized and look to invest
elsewhere until they had more experience.
408362072
RE: Size
of
business
plan?
407468954
Robert Smith
11/10/2012 11:45:18 PM
I think that brings up the argument of quantity versus quality. Let's also not forget
that a person's attention span is only so long. Who wants to read 100-page business
plan in the first place? Especially if the first 25 pages aren't that great to begin with. I
would rather have 25 quality pages to read through than 100 mediocre pages to read
through.
408740507,408649
Who
should
write
the
plan?
408386009
0
Professor Bryan
11/11/2012 5:01:44 AM
Class, new question from Chapter 4. Who should write the business plan? Jon
408740507
RE:
Who
should
write
the
plan?
408386009
Eric Underwood
11/11/2012 7:32:48 PM
It is true that the entrepreneur and the investor are the two most directly involved in
the creation of a new business, and their ideas and vision are what drive the culture of
a business. Before any employees can be hired there must be a working idea of who
those people are that would help bring the vision from paper into reality. However, a
business plan should not be viewed as a static document and should be revisited from
time to time. If the business plan is being re-written mangers should also be involved
in the process of creating the new vision for the direction of the company.
408747406
408649868
408386009
RE:
Who
should
write
the
plan?
Oscar Coroy
11/11/2012 5:23:46 PM
The business owner should write the business plan. Their vision and personality should
be everywhere. the owner would get help from outside sources, however, the plan
should be exactly what they think should happen.
408747406
408649868
RE:
Who
should
Audrey Dawson
write
the
plan?
11/11/2012 7:41:47 PM
Oscar, I agree with you that the business owner should be the one who
writes the business plan, and be the one to update if any changes are
needed. You as the owner are the one who knows how you want your
business needs, so the owner is the one who should be able to write the
business plan.
408562195
RE:
Who
should
write
the
plan?
408386009
Seth Schwable
11/11/2012 2:41:15 PM
I think the key is that the business owner's vision is present in the plan. There are
services that will put a business plan together for a fee, but the owner needs to have
their imprint on the thing. If a venture capitalist is going to invest, they need to have
an idea of the owner's temperament and philosophy regarding how the business will be
run.
408481687
RE:
Who
should
write
the
plan?
408386009
Bret Luckenbaugh
11/11/2012 11:30:07 AM
The business plan can be written by anyone, however our text provides a good list of
what need to be included in the plan as well as proper orientation and presentation.
Page 139 of our text outlines some of the mistakes to look out for such as: submitting
a rough copy rather than a final draft, current financial information and industry
comparisons, and being overly optimistic just to name a few. The main thing is to
gather accurate information and reach out to others for support if you are not
confident in any specific area of the plan.
408744323
RE:
Who
should
write
the
plan?
408386009
Moira Johnston
11/11/2012 7:37:51 PM
I think the business owner should draft the plan and have
someone who can be objective make changes if necessary.
The business owners emotions can overshadow the business
plan and possibly cloud the important facts needed for
investors. The objective party can clarify the plan or include
details the owner may have overlooked. If nothing else, it's a
good way to make sure your business plan is concise and
informative.
408889112
RE:
Who
should
write
the
plan?
408386009
Vincent Hyatt
11/11/2012 11:29:27 PM
The business plan, or at least the initial plan, should be prepared by the entrepreneur
seeking investment. From there it would be on both the investors and entrepreneurs to
come to an agreement on a suitable plan.
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2E-B3-8C-F9-89-04