netrashetty
Netra Shetty
Colt's Manufacturing Company (CMC, formerly Colt's Patent Firearms Manufacturing Company) is a United States firearms manufacturer originally founded in 1836. It is best known for the engineering, production, and marketing of dozens of different firearms over the later half of the 19th and the 20th century. It has made many civilian and military designs used in the United States, as well was many other countries.
Among the most famous colt products are the Walker Colt, used by the United States Mounted Rifles in the Mexican-American War, and the "Colt .45" revolver, the proper name of which is the Single Action Army or Peacemaker. Later well-known CMC revolvers include the Colt Python and Colt Anaconda. John Browning also worked for Colt for a time, and came up with now ubiquitous parallel slide type of design for a pistol, which debuted on the Colt M1900 pistol, leading to numerous pistol designs including the famous Colt M1911 pistol. Though they did not develop it, for a long time Colt was primarily responsible for the M16 rifle production, as well as of many derivative firearms. The most successful and famous of these are numerous M16 carbines, including the Colt Commando family, and the M4 carbine.
Colt also developed many important less known firearms that were often ahead of their time. Among the most recent was the CAR-15 family–an innovative weapon system family of the 1960s, as well as a number of 5.56 mm machine guns such as the Colt CMG-1, CMG-2 in the 60s in the 70s. They also invented the Colt SCAMP PDW, a little known firearm of the late 1970s that was among the first of its type. Colt's produced also the first 15 000 Thompson Submachineguns Mod 1921. Another important design was the lesser-known Colt-Browning Model 1895 (Potato Digger) - one of the first gas-actuated machine guns. Going back even farther reveals other important products of the 19th century. The Colt Revolver Rifle, one of the first repeating rifles, and used during the American Civil War. In addition to this were a large number of famous revolvers, such as the 1847 Colt Walker, the smaller Dragoon Mod. 1848 of the same caliber .44, the Navy Mod. 1851 cal .36, the Pocket Mod. 1849 cal .31 and numerous other famous revolvers of the 'Wild West'. His designs played a major role in the popularization of the revolver and the shift away from earlier single pistols and pepperbox type weapons. While Colt did not invent the revolver concept, his designs resulted in the first very successful ones with patents on many of the features that lead to them being so popular.
In 2002, Colt Defense was split off from Colt's Manufacturing Company. Colt Manufacturing Company now serves the civilian market, while Colt Defense serves the law enforcement, military, and private security markets worldwide. Prior to the split Colt was also well known for their production (now taken over by Colt Defense) of the M1911 semi-automatic pistols, M4 carbines, M16 assault rifles, and M203 grenade launchers, although none of these were Colt designs, excepting the M1911 . Diemaco of Canada was also purchased, and renamed Colt Canada, though most of its products remain the same. Diemaco and Colt had earlier worked together on designs and shared many similar products.
cus strategy is that a firm is better able to serve a limited segment more efficiently than competitors can serve a broader range of customers. Firms using a focus strategy simply apply a cost leader or differentiation strategy to a segment of the larger market. Firms may thus be able to differentiate themselves based on meeting customer needs, or they may be able to achieve lower costs within limited markets. Focus strategies are most effective when customers have distinctive preferences or specialized needs.
A focus strategy is often appropriate for small, aggressive businesses that do not have the ability or resources to engage in a nationwide marketing effort. Such a strategy may also be appropriate if the target market is too small to support a large-scale operation. Many firms start small and expand into a national organization. For instance, Wal-Mart started in small towns in the South and Midwest. As the firm gained in market knowledge and acceptance, it expanded through-out the South, then nationally, and now internationally. Wal-Mart started with a focused cost leader strategy in its limited market, and later was able to expand beyond its initial market segment.
A firm following the focus strategy concentrates on meeting the specialized needs of its customers. Products and services can be designed to meet the needs of buyers. One approach to focusing is to service either industrial buyers or consumers, but not both. Martin-Brower, the third-largest food distributor in the United States, serves only the eight leading fast-food chains. With its limited customer list, Martin-Brower need only stock a limited product line; its ordering procedures are adjusted to match those of its customers; and its warehouses are located so as to be convenient to customers.
Firms utilizing a focus strategy may also be better able to tailor advertising and promotional efforts to a particular market niche. Many automobile dealers advertise that they are the largest volume dealer for a specific geographic area. Other car dealers advertise that they have the highest customer satisfaction scores within their defined market or the most awards for their service department.
Firms may be able to design products specifically for a customer. Customization may range from individually designing a product for a customer to allowing customer input into the finished product. Tailor-made clothing and custom-built houses include the customer in all aspects of production, from product design to final acceptance. Key decisions are made with customer input. However, providing such individualized attention to customers may not be feasible for firms with an industry-wide orientation.
Other forms of customization simply allow the customer to select from a menu of predetermined options. Burger King advertises that its burgers are made "your way," meaning that the customer gets to select from the predetermined options of pickles, lettuce, and so on. Similarly, customers are allowed to design their own automobiles within the constraints of predetermined colors, engine sizes, interior options, and so forth.
Potential difficulties associated with a focus strategy include a narrowing of differences between the limited market and the entire industry. National firms routinely monitor the strategies of competing firms in their various submarkets. They may then copy the strategies that appear particularly successful. The national firm, in effect, allows the focused firm to develop the concept, then the national firm may emulate the strategy of the smaller firm or acquire it as a means of gaining access to its technology or processes. Emulation increases the ability of other firms to enter the market niche while reducing the cost advantages of serving the narrower market.
Market size is always a problem for firms pursing a focus strategy. The targeted market segment must be large enough to provide an acceptable return so that the business can survive. For instance, ethnic restaurants are often unsuccessful in small U.S. towns, since the population base that enjoys Japanese or Greek cuisine is too small to allow the restaurant operator to make a profit. Likewise, the demand for an expensive, upscale restaurant is usually not sufficient in a small town to make its operation economically feasible.
Another potential danger for firms pursuing a focus strategy is that competitors may find submarkets within the target market. In the past, United Parcel Service (UPS) solely dominated the package delivery segment of the delivery business. Newer competitors such as Federal Express and Roadway Package Service (RPS) have entered the package delivery business and have taken customers away from UPS. RPS contracts with independent drivers in a territory to pick up and deliver packages, while UPS pays unionized wages and benefits to its drivers. RPS started operations in 1985 with 36 package terminals. By 1999 it was a $1 billion company with 339 facilities.
GENERIC STRATEGIES
AND THE INTERNET
Porter asserts that these generic competitive strategies were not only relevant for the old economy, but are just as vital today. Indeed, he goes on to say that terms such as "old economy" and "new economy" may be misguided, and the concept of a firm's Internet operation as a stand-alone entity preclude the firm from garnering important synergies. Furthermore, the Internet may enhance a firm's opportunities for achieving or strengthening a distinctive strategic positioning. Therefore, effective strategy formulation at the business level should pay off, not in spite of the Internet, but in concert with it.
Porter describes how companies can set themselves apart in at least two ways: operational effectiveness (doing the same activities as competitors but doing them better) and strategic positioning (doing things differently and delivering unique value for customers). "The Internet affects operational effectiveness and strategic positioning in very different ways. It makes it harder for companies to sustain operational advantages, but it opens new opportunities for achieving or strengthening a distinctive strategic positioning." Although the Internet is a powerful tool for enhancing operational effectiveness, these enhancements alone are not likely to be sustained because of copying by rivals. This state of affairs elevates the importance of defining for the firm a unique value proposition. Internet technology can be a complement to successful strategy, but it is not sufficient. "Frequently, in fact, Internet applications address activities that, while necessary, are not decisive in competition, such as informing customers, processing transactions, and procuring inputs. Critical corporate assets—skilled personnel, proprietary product technology, efficient logistical systems—remain intact, and they are often strong enough to preserve existing competitive advantages."
Among the most famous colt products are the Walker Colt, used by the United States Mounted Rifles in the Mexican-American War, and the "Colt .45" revolver, the proper name of which is the Single Action Army or Peacemaker. Later well-known CMC revolvers include the Colt Python and Colt Anaconda. John Browning also worked for Colt for a time, and came up with now ubiquitous parallel slide type of design for a pistol, which debuted on the Colt M1900 pistol, leading to numerous pistol designs including the famous Colt M1911 pistol. Though they did not develop it, for a long time Colt was primarily responsible for the M16 rifle production, as well as of many derivative firearms. The most successful and famous of these are numerous M16 carbines, including the Colt Commando family, and the M4 carbine.
Colt also developed many important less known firearms that were often ahead of their time. Among the most recent was the CAR-15 family–an innovative weapon system family of the 1960s, as well as a number of 5.56 mm machine guns such as the Colt CMG-1, CMG-2 in the 60s in the 70s. They also invented the Colt SCAMP PDW, a little known firearm of the late 1970s that was among the first of its type. Colt's produced also the first 15 000 Thompson Submachineguns Mod 1921. Another important design was the lesser-known Colt-Browning Model 1895 (Potato Digger) - one of the first gas-actuated machine guns. Going back even farther reveals other important products of the 19th century. The Colt Revolver Rifle, one of the first repeating rifles, and used during the American Civil War. In addition to this were a large number of famous revolvers, such as the 1847 Colt Walker, the smaller Dragoon Mod. 1848 of the same caliber .44, the Navy Mod. 1851 cal .36, the Pocket Mod. 1849 cal .31 and numerous other famous revolvers of the 'Wild West'. His designs played a major role in the popularization of the revolver and the shift away from earlier single pistols and pepperbox type weapons. While Colt did not invent the revolver concept, his designs resulted in the first very successful ones with patents on many of the features that lead to them being so popular.
In 2002, Colt Defense was split off from Colt's Manufacturing Company. Colt Manufacturing Company now serves the civilian market, while Colt Defense serves the law enforcement, military, and private security markets worldwide. Prior to the split Colt was also well known for their production (now taken over by Colt Defense) of the M1911 semi-automatic pistols, M4 carbines, M16 assault rifles, and M203 grenade launchers, although none of these were Colt designs, excepting the M1911 . Diemaco of Canada was also purchased, and renamed Colt Canada, though most of its products remain the same. Diemaco and Colt had earlier worked together on designs and shared many similar products.
cus strategy is that a firm is better able to serve a limited segment more efficiently than competitors can serve a broader range of customers. Firms using a focus strategy simply apply a cost leader or differentiation strategy to a segment of the larger market. Firms may thus be able to differentiate themselves based on meeting customer needs, or they may be able to achieve lower costs within limited markets. Focus strategies are most effective when customers have distinctive preferences or specialized needs.
A focus strategy is often appropriate for small, aggressive businesses that do not have the ability or resources to engage in a nationwide marketing effort. Such a strategy may also be appropriate if the target market is too small to support a large-scale operation. Many firms start small and expand into a national organization. For instance, Wal-Mart started in small towns in the South and Midwest. As the firm gained in market knowledge and acceptance, it expanded through-out the South, then nationally, and now internationally. Wal-Mart started with a focused cost leader strategy in its limited market, and later was able to expand beyond its initial market segment.
A firm following the focus strategy concentrates on meeting the specialized needs of its customers. Products and services can be designed to meet the needs of buyers. One approach to focusing is to service either industrial buyers or consumers, but not both. Martin-Brower, the third-largest food distributor in the United States, serves only the eight leading fast-food chains. With its limited customer list, Martin-Brower need only stock a limited product line; its ordering procedures are adjusted to match those of its customers; and its warehouses are located so as to be convenient to customers.
Firms utilizing a focus strategy may also be better able to tailor advertising and promotional efforts to a particular market niche. Many automobile dealers advertise that they are the largest volume dealer for a specific geographic area. Other car dealers advertise that they have the highest customer satisfaction scores within their defined market or the most awards for their service department.
Firms may be able to design products specifically for a customer. Customization may range from individually designing a product for a customer to allowing customer input into the finished product. Tailor-made clothing and custom-built houses include the customer in all aspects of production, from product design to final acceptance. Key decisions are made with customer input. However, providing such individualized attention to customers may not be feasible for firms with an industry-wide orientation.
Other forms of customization simply allow the customer to select from a menu of predetermined options. Burger King advertises that its burgers are made "your way," meaning that the customer gets to select from the predetermined options of pickles, lettuce, and so on. Similarly, customers are allowed to design their own automobiles within the constraints of predetermined colors, engine sizes, interior options, and so forth.
Potential difficulties associated with a focus strategy include a narrowing of differences between the limited market and the entire industry. National firms routinely monitor the strategies of competing firms in their various submarkets. They may then copy the strategies that appear particularly successful. The national firm, in effect, allows the focused firm to develop the concept, then the national firm may emulate the strategy of the smaller firm or acquire it as a means of gaining access to its technology or processes. Emulation increases the ability of other firms to enter the market niche while reducing the cost advantages of serving the narrower market.
Market size is always a problem for firms pursing a focus strategy. The targeted market segment must be large enough to provide an acceptable return so that the business can survive. For instance, ethnic restaurants are often unsuccessful in small U.S. towns, since the population base that enjoys Japanese or Greek cuisine is too small to allow the restaurant operator to make a profit. Likewise, the demand for an expensive, upscale restaurant is usually not sufficient in a small town to make its operation economically feasible.
Another potential danger for firms pursuing a focus strategy is that competitors may find submarkets within the target market. In the past, United Parcel Service (UPS) solely dominated the package delivery segment of the delivery business. Newer competitors such as Federal Express and Roadway Package Service (RPS) have entered the package delivery business and have taken customers away from UPS. RPS contracts with independent drivers in a territory to pick up and deliver packages, while UPS pays unionized wages and benefits to its drivers. RPS started operations in 1985 with 36 package terminals. By 1999 it was a $1 billion company with 339 facilities.
GENERIC STRATEGIES
AND THE INTERNET
Porter asserts that these generic competitive strategies were not only relevant for the old economy, but are just as vital today. Indeed, he goes on to say that terms such as "old economy" and "new economy" may be misguided, and the concept of a firm's Internet operation as a stand-alone entity preclude the firm from garnering important synergies. Furthermore, the Internet may enhance a firm's opportunities for achieving or strengthening a distinctive strategic positioning. Therefore, effective strategy formulation at the business level should pay off, not in spite of the Internet, but in concert with it.
Porter describes how companies can set themselves apart in at least two ways: operational effectiveness (doing the same activities as competitors but doing them better) and strategic positioning (doing things differently and delivering unique value for customers). "The Internet affects operational effectiveness and strategic positioning in very different ways. It makes it harder for companies to sustain operational advantages, but it opens new opportunities for achieving or strengthening a distinctive strategic positioning." Although the Internet is a powerful tool for enhancing operational effectiveness, these enhancements alone are not likely to be sustained because of copying by rivals. This state of affairs elevates the importance of defining for the firm a unique value proposition. Internet technology can be a complement to successful strategy, but it is not sufficient. "Frequently, in fact, Internet applications address activities that, while necessary, are not decisive in competition, such as informing customers, processing transactions, and procuring inputs. Critical corporate assets—skilled personnel, proprietary product technology, efficient logistical systems—remain intact, and they are often strong enough to preserve existing competitive advantages."