Sien Yu International Corporation’s Internship Report

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Updated: Mar 3rd, 2024

Introduction

Sienyu international corp. provides selling goods and services on industrial machines. Internship in this company is very important in programs of commerce. It provides insight in industrial side of putting commerce into practice. Internship helps in providing the requirements in academic because it involves putting what have been learnt into practice in the field.

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This report will provide the outline of business of Sienyu international corp. and summary of the work done. The goals of Sienyu international corp. will help in writing a report that is appropriate and the purpose of internship report will be well explained.

Overall Anticipated Goals

Building relationship

The relationship is build through international service learning that is very useful to people because it makes them to be interdependent where everyone considers other people useful to him and also work together to help each other grow and develop even beyond western framework.

There are seminars organized by sienyu international corp. where its members and employees meet with other companies within the same line of business and they share ideas on how to improve their business, how to serve their customers better and how to improve the quality of goods and services that hey offer for sale. These seminars also help people to interact and share the challenges they encounter and get solution to their problems. (Fall, 2001)

The discussions help people present response to the topic that is being discussed at personal level without fear and this helps Sienyu international corp. know how to improve its business and also get many ideas from the people which are useful for the success of the company. The data that is gathered from the corp. is presented for the members and employees to see it and know the position of the corporation and this will help motivate the employee put more effort when they see that the corporation is progressing on well.

In building the relationship, Sienyu corp. is able to meet business partners who are potential and have engaged in business for a long time. It is also able to recruit qualified employees who have knowledge and experience and are best suited to be employed by the corporation. Also in relating with other people, it is easy to start a new business to make the products and services reach customers wherever they need it and at the right time and also promote the business so that customers can be aware of the products that are available in the market and where to get them with ease.

Nurturing the links

In order to nurture the links, Sienyu International Corporation involves itself in innovation where it comes up with new improved products and services that satisfies customers’ needs and wants. Whenever new product is in the market and it has a high quality, customers will consider consuming more of it and therefore the corporation increases its sales all the time. (Baird, 1994)

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New improved technology is also important where machines are used to process goods and also in sales promotion for example advertising through the media or internet. The Sienyu Corporation is committed to going global to make sure that its products and services are everywhere and are properly utilized by customers who have interest in their products.

Sienyu international corp. has microfinance institutions that are able to finance its operations in case it has finance deficit. These institutions also include banks that offer loans at an interest rate that is specified as a certain percentage of the amount borrowed. It also has technical assistants who help in running of the corporation and also managers who make sure the corporation runs smoothly and gives advice all the time. (Fall, 2001)

Enhancing benefit that buyers buy in the first place

Buyers will always prefer good quality products that are charged fair price. Sienyu international corp. ensures that they produce high quality products that are charged price that is affordable to all the buyers. They consider the cost of producing the goods and basing on that, the selling price is set which is higher that the cost of production but not too high rather reasonable price.

The products or services are taken within the reach of customers so that the buyers can get it easily without having to travel far to look for the products. The customers are served well and persuaded to buy the products and services for them to be potential customer of the corporation (Drucker, 2007).

Improve product or service continuously to protect business from competitive encroachment

Sienyu international corp. makes sure that, the goods available are very competitive in order to retain its customers avoid loosing the customers to its competitors. The products and services should satisfy the customers taste and preferences and are of good quality.

The employees should always be assigned duties that they can do to their best in order to improve productivity and allow employees to specialize in areas where they are best suited.

The employees should be motivated to work harder through salary increment, promotion and being rewarded according to their performance. Health services are given free of charge and they are being housed by the corporation. When all this is done, the employee turn over are low and the Sienyu Corporation remains competitive because, the experienced employees are retained and are able to improve the products and services all the time.

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With the use of modern technology that has speed and accuracy, the corporation is able to improve the product or service and the business is protected from competitive encroachment because, it is able to use the modern technology used by companies in similar line of production.( Ghoshal, 1989)

How to make reasonable decision on people, price, place and promotion

Sienyu Corporation supplies products and services that people need. These products and services and of great benefit to consumers and are the ones desired by consumers. Market research helps to determine what consumer’s need, where to supply and when to supply it. This will help consumers who are willing and able to purchase the product able to buy it.

In pricing, the price is set that includes cash discounts or quantity discounts. The price set is determined the time of the year, demand and the energy or attention used in producing the product or offering the service.

In making decision about the place, this is how the product gets to customers reach, the distribution channel used to sell the product for example retail, wholesale or online. The geographical region is identified and the segments which include business people, families and adults. The decision on promotion include, advertising through the media or newspaper, sales promotion, personal selling or publicity. (Bartlett, 1992)

How to use knowledge to solve problem

To solve problem about people, Sienyu international corp. identifies changes in the market in order to know demand during every season and supply the necessary products.

When dealing with price of products and services, reaction of distributors is known whether they are willing to distribute the products and also the reaction of consumers to know whether they are satisfied with the price that is charged. The price of the substitute goods available is known because if the price of commodity is high, consumers might prefer to use the substitute.

Goods are taken to the place where the customers are either from manufactures to consumers, manufacturer to through agent to retailer to consumer or manufacturer to agent to consumer. Promotion is done on all the products to ensure that every product or service is well known to consumers. (Berry, 1990)

Duration of Work

The employment duration of work has a total of 120hrs of work. During this time, I was totally involved in the activities that are carried out at sienyu International Corporation which is selling products and offering services.

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Duties and Responsibility of Assistant Marketing

Sienyu international corp. has an assistant marketing that prepares administration report and gathers information and gathers information and data on how the company operates from various sources and researches on them. He also prepares correspondence to customers and prepares and maintains files within the organization.

He prepares the transactions of customers within the required period of time. Once sales are made, he opens account for them indicating whether it was cash sale or credit sale and the cost of the product. Assistant marketing do market research for the product advertises the product or service and does promotion through presenting marketing projects. He trains newly recruited staff and research on the new interest rates charged by banks. (Fatehi, 1996)

Strength and Weaknesses

Sienyu international corp. is able to protect data well to avoid loss and record of all activities that take place is well maintained. It is flexible to changes in technology and also changes in market demand of products whereby, if there is change in weather that make one product be demanded more than the other one, it is able to change quickly to that product to satisfy consumers demand.

The corporation is able to maintain privacy of its operations without exposing it to its competitors. The employees behave well and are hard working all the time and they are rewarded according to their performance.

The weakness of sienyu international corp. is that, it takes time before it adopts new technology because of the rapid change in technology which is expensive. The cost of legislation is high and this becomes a burden to the company. The corporation incurs liability on technical service to be able to balance the interest of customers. (Kefalas, 1997)

Challenges of Assistant Marketing Management

There lacks good communication between the corporation and its customers. This reduces the sales made because the customers are not informed about them at the right time. the rapid change in technology creates high competition where by if the competitors change to the new technology faster, more customers from Sienyu international corp. will prefer to consume good produced using the new technology. If the employee turn over is high, it is expensive to recruit and train new employees. (Baird, 1994)

Application of Theoretical Business Principles

Theoretical business principles can be applied in determining the price of goods in Sienyu International Corporation because the higher the price of commodity the low the demand and the low the price of commodity the higher the demand. The revenue generated in producing the products should always be higher than the cost incurred in producing that particular product if the company aims at making profit.

Future trend in the market is forecasted to know which products will be demanded more at a given time in future. Theoretical business principles help in record keeping of the transactions that takes place which makes it easy to account for all the cash invested in the business and also to determine trading strategies used by the corporation. (Mead, 1992)

Recommendations

Sienyu Corporation should make sure that it gets solution to all its challenges by adopting new technology immediately and avoiding employee turn over and improving the means of communication to create awareness to all potential customers. The goods and services should be of the best quality for the corporation to be the most competitive. (Robertson, 19992)

Should Practicum Site Be Used in Future

The site should be used in future because; it has all the facilities necessary to put what is studied theoretically into practice. This is a good site to gain experience that is valuable for any beginner who is willing to make solid contribution to any corporation in future. The management of Sienyu international corp. is good and they are able to offer quality training to its staff and employees. (Ghoshal, 1992)

References

Drucker P. (2007): Management, tasks, responsibilities and practices. Transaction publisher.

Baird, L. (1994): Meeting global challenges: The executive perspective. Unpublished paper. University of Boston.

Fall S. (2001): community service learning: Michigan.

Bartlett, C.K. and Ghoshal, S., (1989): Managing across borders: The Harvard Business School Press, Boston, MA.

Bartlett, C. K. & Ghoshal, S. (1992): What is a global manager. Harvard Business Review.

Berry, J.K (1990): Linking management development to business strategies. Journal of Training & Development Journal 44 8, pp. 20–22.

Fatehi, K (1996): International management: cultural and functional perspective Prentice-Hall, Upper River Saddle.

Kefalas, A. G. S & Neuland, E. W (1997): Global mindsets: An exploratory study. Monterrey, Mexico.

Mead, C. (1992): The development of the global leader within the multinational corporation. In V. Pucik, N. M. Tichy, & C. K. Bartlett (Eds.), Globalizing.

Robertson, C (1992): Globalization: Social Theory and Global Culture. London: Sage.

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