Microeconomics and Macroeconomics of Nelson
The accurate research on corn by Nelson helped to attain micro and macro level economic growth. The unchanged recipe of corn cup is an important USP (Unique Selling Proposition) for steady micro and macro business growth. Table of Contents Introduction 3 Growth of Nelson in the Context of Microeconomics Studies 3 Growth of Nelson in the Context of Macroeconomics Studies 7 Conclusion 10 References 12 Introduction A productive idea can create wonders in business field. With the help of precise planning and research, a small business idea can run successfully in the global economic platform. Nelson’s corn in the cup is a potential example of business world that reflected growth through the effective planning and research. Microeconomics facilitates to study behavior of an individual firm and decision-making regarding allocation of deficient resources and others.
A proper study of microeconomics elements of any firm enhances its sustainability in global market (Matrade, 2017). The sustainable growth and increasing demand of Nelson’s corn in the cup is an ideal justification of considering microeconomics elements (Pindiche, 2013). Nowadays, microeconomics is based upon basic hypothesis about micro level behavior. The microeconomics study helps to understand people’s choices and decision-making process about a particular product and price. Nelson believed that well cultured work force is a prime asset for every company. A trained and cultured worker helps to improve production process without any delay. On the other side, competitors and customers’ feedback makes Nelson’s corn in the cup a successful product in current era. The journey from cob to cup is a remarkable achievement for the company (MBA Edge, 2014; Nelson’s, n.
d. On the other side, Nelson considered right location to promote its product to the customers. The proper balance of five Ps makes corn cup a loved product among global customers (Samnani, 2014). The restart of selling corn in cup in 1993 gained huge success. At micro level Nelson buy cornfields from farmers and expanded its business one-step forward. This acceleration of production facilitates faster growth, which was earlier stagnated for workforce and financial restrictions. To maintain brand name for long time, Nelson provide extra focus on quality training for all employees from varied franchisees and mall shops as well as attractively design kiosks to attain more numbers of investors (Economic Transformation Programme, 2015; Kadocsa & Francsovics, 2011). From 1993 to present, Nelson’s focus is on providing quality service at an affordable price.
The unique packing style magnetizes customers of varied age groups. In instant food market, corn cup is the only one that remains its recipe same and simple. The most appropriate reason of growth in micro level is that the company does not experiment with corn cup recipe (Samnani, 2014; Kadocsa & Francsovics, 2011). The macro environment factors include demographics, legal, political, social, technological and natural forces (Management International Conference, 2013). After the national achievement by Nelson’s corn in the cup, it started integrating the business to international level (Economic Transformation Programme, 2015). The demographics factor includes gender or ethnicity. To capture the global market the company first identifies target market for corn cups. Besides, legal, political and social life of other countries also produces a huge difference in demand and supply rate of the product.
From last 17 years, the company has been supplying same corn cups with minimum ingredients. This macro level economic growth indicates that with smallest amount of ingredients and intelligent business plan can provide effective results to the company (Indris & Primiana, 2015; Economic Transformation Programme, 2013). Beside, in Turkey, Egypt, China, Vietnam, Brunei and Indonesia, Nelson developed easy franchising policies for young entrepreneur in very limited investments (MBA Edge, 2014). To attain customers from neighboring countries, Nelson chosen shopping malls, airports and other public places where huge numbers of people buy corn cups to spent their leisure hours as well as feed stomach (Management International Conference, 2013). The corn-cup extension journey started from Penang, Sabah, and Sarawak and extended to every part of the world. As a responsible franchisor, Nelson provides special emphasis on a good location.
According to Nelson, if the location is not good or ideal then it does not allow franchises to open outlet (Economic Transformation Programme, 2013). Nelson considered good location, correct partner, and right franchises are the important sources for corn cup victory in neighboring countries. The Saudi Arabia partners are known as the most successful market for Nelson’s corn cups. Presently, in Saudi Arabia the company has over 500 outlets, which are doing a profitable business (Indris & Primiana, 2015; Economic Transformation Programme, 2013). To feed the stomach during busy schedule people chose instant foods. For this reason varied companies are launching dissimilar outlets. In the life race to sustain for long time, presently high numbers of people’s common need is healthy and tasty instant food, which does not harm human body.
Consequently, to fulfill people’s needs Nelson started making corn cups, which is healthy as well as tasty. From last 17 years, the company has been continuously serving corn cups with same ingredients in local as well as international markets. Corn Man’ Shares Secrets to Success. Business Circle. Online] Available at: http://www. businesscircle. com. Acta Polytechnica Hungarica,Vol, 8,No. pp. Management International Conference, 2013. Influence of Macro-Environmental Factors to the Process of Integrating a Foreign Business Entity. Industry, Science and Policy Makers for Sustainable Future, pp. pp. Nelson’s, No Date. Introduction. Nelson's Franchise (M) Sdn Bhd. Online] Available at: https://nelsons.
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