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Business Project

Recommendations (2)


http://www.chineseowl.idv.tw


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In our working group meeting last week, we
discussed our companys difficulty in understanding consumer behavior
in local pharmacies. The Taiwanese Government has
relaxed restrictions on the domestic medical sector in recent years,
such as enabling consumers to purchase over-the-counter drugs,
vitamins and other medicines in supermarkets or through mass
merchandisers. Consequently, the profits of local pharmacies have
been negatively impacted. Although pharmacies have
attempted to strengthen consumer demand through one-stop shopping,
e.g., sanitary and other medical-related products, overall revenues
have not significantly increased. For instance,
although 13,000 pharmacies were operating island in 1995, the number
declined to nearly 10,000 as of December 2002. (NOTE : Add 2-4
sentences that describe characteristics of the problem or statistics that
reflect its severity) The inability to identify those
factors that influence consumers to purchase goods in pharmacies will
make it impossible not only to develop an effective strategy to
effectively address this dilemma, but also to increase the number of
customers in pharmacies as well as generated revenues.
(:)
Therefore, we recommend developing a key
successful factors (KSF) model that incorporates consumer
purchasing factors on different hierarchical levels in order for local
pharmacies in Taiwan to reform their marketing strategies.
To do so, a questionnaire based on consumer
purchasing factors identified from pertinent literature can be sent
to consumers and pharmaceutical managers. Major consumer
purchasing factors can then be analyzed and ranked by using the
analytic hierarchy process. As anticipated, the
proposed KSF model can enable pharmaceutical managers to
execute business operations for effectively by allowing them to
modify marketing strategies based on the difference between
consumer demand and the response to those demands.
Importantly, the proposed model can also be applied to other
retail stores, subsequently enhancing their business operations.
(NOTE : Add 2 more sentences that describe more thoroughly
how the proposed method contributes to a particular field or sector)
(:)
Management has recently expressed
concern over the underrated value on many online gaming
companies. Intellectual capital is a
significant resource for creating a companys wealth.
Although tangible assets such as property, facilities, and
equipment continue to play a vital role in manufacturing
products and providing services, their relative importance
has declined with the increasing importance of knowledge-
based assets. Although capable of determining the value of
tangible assets that can be quantified in a company,
conventional accounting methods do not include
knowledge-based assets, subsequently inducing an
underrating of a companys value.
(:)
Additionally, scientific and technological
advances have heightened the importance of intellectual
capital. For instance, online gaming companies emphasize
the ownership of intellectual capital rather than tangible
assets. In this respect, the value of online gaming
companies has seldom been evaluated in previous studies.
(NOTE : Add 2-4 sentences that describe characteristics of
the problem or statistics that reflect its severity)
As evidence of its popularity, online gaming
ranks at the top of the gaming industry, with generated
revenues of $US 1 Billion in 1999 skyrocketing to $US 2
Billion in 2002. The inability to
determine the value of companies without incorporating
intellectual capital will not only led to an underrating of their
value, but also make it impossible to understand how
intellectual capital impacts the online gaming market.
(:)
Therefore, we recommend developing a novel
index to determine the intellectual capital value of online gaming
companies. To do so, questionnaires can be
sent to the managers of online game companies to identify which
factors should be considered when evaluating their companies
intellectual capital. Those results can then be compared with the
criteria adopted by banks when determining the intellectual
capital of a business. Next, exactly how banks and online game
companies differ when evaluating intellectual capital can be
determined using Principal Component Analysis (PCA).
As anticipated, results of this study can provide a valuable
reference for banking institutions attempting to understand how
online gaming companies evaluate their intellectual capital.
Importantly, the proposed index for determining the
intellectual capital of this growth sector can enhance
conventionally used indexes and increase evaluation accuracy.
(NOTE : Add 2 more sentences that describe more thoroughly
how the proposed method contributes to a particular field or
sector)
Further details can be found at
http://www.chineseowl.idv.tw

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