Our mission is to reach customer expectations, (1) we serve the foodies around the world market (3) with fresh and tasteful doughnuts (2) that made with quality resources and sustainable technology (4). Our dedication towards the customer strives to make a high profit for our shareholders (5) and we are behave in high integrity (6) so as to be harmonious with the people, environment and society (7). The people working with us and working for us are the biggest strength and motivation for us (9) to be better, pure and long lasting (8). 1. Customer 2. Product/service 3. Market 4. Technology Legend 5. Concern for survival, profitability and growth 6. Philosophy 7. Self-concept 8. Concern for public images 9. Concern for public employees Nine components Componants meet customer expectations Fresh and tasteful doughnuts world market quality resources and sustainable technology make a high profit for our shareholders behave in high integrity harmonious with the people, environment and society better, pure and long lasting biggest strength and motivation. 1.Customers: Who are the firms’ customers? 2. Product or services: What are the firms’ products and services? 3. Markets: Geographically, where does the firm compete? 4. Technology – Is the firm technologically current? 5. Concern for survival, growth and profitability? – Is the firm/company committed to growth and financial soundness? 6. Philosophy – What is the basic values, belief, values, aspirations and ethical priorities? 7. Self concept – What is the firm’s distinctive competence or major competitive advantage? 8. Public image is the firm responsive to social, community and environmental concerns? 9.employees are employees a valuable asset of the firm?
The Correct Answer and Explanation is :
1. Customers:
The firm’s customers are food lovers or “foodies” around the world who seek fresh, flavorful doughnuts. These are people who appreciate high-quality and tasty food products, especially those who value innovative and sustainable food options.
2. Product or Services:
The firm’s product is fresh and tasteful doughnuts. These doughnuts are made with high-quality ingredients and sustainable production methods, appealing to consumers who prioritize quality and sustainability in their food choices.
3. Markets:
The firm competes in the global market. It aims to serve foodies worldwide, meaning its target market is not limited by geographical boundaries. The company’s reach extends to international customers, which is a crucial aspect of its business model.
4. Technology:
The firm is technologically current. It utilizes sustainable technology in the production process, ensuring that their doughnuts are made with the most modern methods that also respect the environment. The use of advanced techniques ensures both quality and sustainability in production.
5. Concern for Survival, Growth, and Profitability:
The firm is committed to achieving high profits and ensuring financial soundness for its shareholders. This is evident from their dedication to meeting customer expectations and their aim for long-term profitability and growth, which are essential for the business to thrive in a competitive market.
6. Philosophy:
The firm’s values are centered around high integrity, sustainability, and ethical practices. They strive to be harmonious with the people, environment, and society, demonstrating a commitment to social responsibility and ethical business practices.
7. Self-concept:
The firm’s self-concept highlights its major competitive advantage: the quality of its products and the dedication to sustainability. Its distinctive competence lies in producing high-quality, fresh doughnuts made with ethical and sustainable resources, which differentiates it from competitors in the market.
8. Public Image:
The firm is responsive to social, community, and environmental concerns. Their use of sustainable technology and quality resources reflects their commitment to positive public image and aligning their operations with values that care for the environment and society.
9. Employees:
The firm views its employees as its biggest strength and motivation. This reflects an understanding that dedicated and motivated employees are key to the company’s success and long-term viability.
Explanation (300 words):
The nine components describe the firm’s mission and strategy, which focus on creating high-quality products while aligning with ethical values, sustainability, and financial growth. By serving food lovers worldwide, the company has chosen a broad, international market for its doughnuts, which positions it to expand and diversify. The use of quality ingredients and sustainable technology ensures that the product meets the increasing demand for eco-conscious and premium food offerings. This technological approach also showcases the firm’s commitment to being ahead of the curve in production efficiency and environmental responsibility.
Regarding profitability, the company prioritizes shareholder returns through strong financial growth. This is achieved by maintaining high-quality products, expanding its market, and ensuring that its technological processes are up to date, which ultimately supports long-term profitability. Their philosophy of integrity and social responsibility complements this goal, as they believe that treating employees well and being conscientious about societal impact will positively affect their brand.
Furthermore, the company’s self-concept highlights a competitive edge—its dedication to quality, ethics, and sustainability—which will resonate with increasingly aware consumers. These values contribute to the company’s public image as a responsible and ethical business, which also attracts loyal customers who care about social and environmental issues. By considering employees as valuable assets, the firm ensures a motivated workforce that is key to its continuous improvement and success.