Question

Select two stores you shop at, and describe how they compete. How can technology improve competitiveness and productivity? Contrast applied research and basic research and provide with some examples. Define the terms “design for manufacturing” and “robust design” and explain what is the purpose of value analysis.

Answer 1

The two stores where I shop at are Walmart and Target. Both of the companies still operate as a brick and mortar stores and both are retail giants operating as a multi products store selling all essential and branded products.

They both are direct competitors with same nature of business but different business models. Both are based in USA and compete for the customer base throughout the country with their chain of stores located across states. They both tend to position themselves as most authentic and reasonable stores to shop for their customers and prospects.

Technology can improve the competitiveness and productivity to a very great level. As both the companies operate as physical stores with central locations, technology can help both to widen their market share and grab more customer base through introducing themselves in digital platforms. Technological advancements can provide both the companies a competitive edge over one another by attracting huge amount of customers throughout the world through the digital presence and online operations. They can improve their productivity through expanding their operations in other countries also and attracting prospects through creating value preposition for its customers and indulging into distinctive marketing.

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The main differences between basic and applied research :

Basic research is basically an intended study and investigation performed in order to expand the existing knowledge and information base about certain topic, concept or paradigm. In comparison to this , the applied research is the study or investigation performed on a specific area of interest or field in order to find solutions to some practical problems by applying those concepts on that field of study to get answers to certain questions. Therefore basic research bis a theoretical in nature while as the applied research is a practical approach. .

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For example the basic research will entail determining the rate of employee turnover which will be found out through studying internal factors, gathering past data, making conclusions etc...and the applied research for same activity will involve developing various hypothesis in order to find out the root cause behind employees turnover through surveying employees and getting answers to various questions.

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Design for manufacturing is a term used to define the concept that the says that products should be designed in a way in which they are easy to manufacture. It is the method of designing the components, parts or elements in such a way that they ease manufacturing and enable to improve or produce efficient working product at economic cost. This is done through optimising, refining and simplifying the design of product.

The term Robust design is used to refer to the concept which aims at reducing the variations in the products without eliminating the cause of such variations.In other words it means that products are produced in such a way that they retain and maintain the consistency even when the various factors are there to interfere with the production process.

The main purpose of value analysis is to increase the value or importance of any item or process by deeply understanding and analysing its key components or constituents so that deviations in performance are eliminated and improvements are achieved.

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