Please, respond to the attach classmate discussion posts (125 words each). Thank you
Please, respond to the below classmate discussion posts (125 words each). Please, respond to the below two classmate main posts. (Please, the responses need to be a discussion, not an evaluation. You need to agree/disagree with their opinion and add the reasons why and information regarding the topic discussed. No citation required) Thank you Classmate discussion posts Discussion 1 Michael Barry In 1908 Hershey food was found, and shortly after it became the top performer in providing chocolate in America. Today, Hersey has more than 16k employees, 80+ brands, and $8.0B in annual revenues. With being operated in more than 70 counties, Hersey is the most likely to have the most sustain profit, increase sales, and ways to cut down spending. By 2025 they are committing to reduce packaging by 25 million pounds, and this past year they already achieved 94% of that goal. Hersey's biggest threat is that they employ a lot of students/ abuse child labor in the 3rd word/developing country. 2/3 of the world's cocoa supply comes from West Africa where, according to a 2015 U.S Labor Department report, more than 2 million children were engaged in dangerous labor in cocoa-growing regions. As of 2018, they were facing a lawsuit of child labor, this could be a continuous problem that could reduce their sales. References David, F., David, F., (2016). Strategic Management: A competitive advantage approach, concepts and cases (16th edition). New York: Pearson. Siegel, R.& Whoriskey, P. (05 June 2019). Cocoa’s child laborers. The Washington Post. Web. Retrieved from: https://www.washingtonpost.com/graphics/2019/business/hershey-nestle-mars-chocolate-child-labor-west-africa/ Discussion 2 Urielisrael Garcia Ratings are important in an EFE Matrix because “an External Factor Evaluation (EFE) Matrix allows strategists to summarize and evaluate economic, social, cultural, demographic, environmental, political, governmental, legal, technological, and competitive information ” (David, & David, 2016, p. 77). The scores are rated between 1 and 4 and are poorly to higher. However, each rating is based on the efficiency of the strategy of the organization. Therefore, ratings are based on the company, while in Step 2 weights are based on industry. It should be remembered that risks as well as opportunities rising to be 1, 2, 3, and 4. The EFE matrix contains market opportunities and risks. These factors are assessed or weighed afterward. To give the business equal performance, 20 factors are recommended. If you have too few factors, you can reduce your chances and threats, and too many factors can weaken the primary factors. “A competitive profile matrix compares a company and its rivals. The matrix reveals strengths and weaknesses for each company, and critical success factors show areas of success or areas for improvement” (Hubbard, 2017). They are classified into weaknesses and strengths where 1 is a significant weakness and 4 is a great success. The inclusion of internal and external factors in CPMs is important because different companies compete with other competitors in competitive markets to preserve and develop their positions. “CPM includes both internal and external issues; therefore, the ratings refer to strengths and weaknesses, where 4 5 major strength, 3 5 minor strength, 2 5 minor weakness, and 1 5 major weakness” (David, & David, 2016, p. 79). This initiative and competitiveness can be demonstrated under different conditions, which reflect the company's place in the business climate. In addition to internal factors, the inclusion of external factors recognizes more competitive strengths and weaknesses. “Naturally, the more critical an attribute, the higher its weight must be. In the case of supermarkets, the weights might be 0.3, 0.3, 0.25 and 0.15 for location, product selection, price, and customer service, respectively” (Ozyasar, 2017).