focused low cost strategy pdf

the company that follows this strategy competes against the cost leader in the niche market where it has a cost advantage. advantage a firm can possess: low cost or differentiation. Companies that implement a focused low-cost strategy will target a smaller audience with unique needs. DG 9�0��{K�\' �� With this strategy, the objective is to become the lowest-cost producer in the industry. For example, if two companies make essentially identical products that sell at the same price in the market place, the one with the lower costs has the advantage of a higher level of profit per sale. 21 0 obj A critique of Porter’s cost leadership and differentiation strategies 38 the author will also briefly examine their work.2 2. �5r1[)��[f�y��b endobj <> All three generic strategies are designed to achieve distinction relative to a rival. The research question at the heart of this report is … �Џ��m_ݟ�{:�3�`�QT��H��D��AO�>! And the objective of Ryanair is to firmly establish itself as Europe’s leading low-fares scheduled. A focused differentiation strategy requires offering unique features that fulfill the demands of a narrow market (Table 5.7 “Focused Differentiation”). Low-Cost Focus. Academia.edu no longer supports Internet Explorer. The mission of Ryanair is to offer low-fares that generate increased passenger traffic while maintaining a continuous focus on cost containment and efficiency operation. <> Problem Statement A focus (or market niche) strategy based on low cost – concentrating on a narrow buyer segment and offering unique product at a lower cost than competitors . The two basic types of competitive advantage combined with the scope of activities for which a firm seeks to achieve them, lead to three generic strategies for achieving above average performance in an industry: cost leadership, differentiation, and focus (Porter, 1996). Case study of strategic development process in the Umhlanga Dental Practice (UDP), Mobile Virtual Network Operatotors in Europe. stream The purpose of this strategy is the company's low-cost products offers in an industry. <> x��]��6�}��z��)��ͦ��ir�-��c�k��Z�.�_3CR�di��]��%j�8�Cyz��|Q{�^Mo�z�XgK��uY��]6�8ȋy��l�~s뽾��{!��^,X(��Ӊw�� It brings expertise into the products or services. To browse Academia.edu and the wider internet faster and more securely, please take a few seconds to upgrade your browser. �Rnc endobj 18 0 obj x�Ŗ]k�0��`��OC)$i�uP(#�*�0i�gsݍ��I�� -!�cˏ^�GGŢ��]��U��j�}F��u��S�~��-�}�T]}j��f��Z��3��2��PHQ��E{w�2�=f�~�Z��n�n�},�&�Lo�� KZ��9�M�e�u)7��BŃ�� b�IR��$q{�j�NC��!/ �(*�(�)�0 :�!��%1I��/ c)� ��'��U��5ݶŹȚ <>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/Annots[ 20 0 R 21 0 R] /MediaBox[ 0 0 612 792] /Contents 12 0 R/Group<>/Tabs/S/StructParents 2>> ٤�� 2ל�Ӧ��5�Q_�q��g�ض�[d�]�D�S��h$9d��L+��4M�P7%�y)��2�n�*ͥ��?�>��@��I`��Qp�wia�چk��$�ħSo7��T�p��{��T�x˗�P�G�f!mP�|h��E@*��lxk�Kr��D]U�Q��S&yva�ڻ�q��b��\l �Y�l��5G[��]F_��Q>��;:+8�=�Ļ��ٲ"�p.z�'� Sorry, preview is currently unavailable. The obvious example of a low-cost leadership business is Walmart, which uses a top of the line supply chain management information system to keep their costs low and, consequently, their prices low. The low cost leader in any market gains competitive advantage from being able to many to produce at the lowest cost. endobj <>/F 4/A<>/StructParent 3>> endobj �8E��$)��馶�d��L��I�8ʈ2�8I��kR��_d�Uɤ��JP��U�+�n��6��xݴP��n�m��uӎ�|p�O�WkOz*��FqiA��3r��,w��[��-�i��bw�$�ܪ`��DWY�Yمt?��W��mY}l� endobj ii. x��ZY��~_`�3/KټÀw�6`�H$��D��Rl��O]�C#�y��꺺�j=}��1��7�֯O�u��oO�?��T�Y_��o��>�>~x��. 22 0 obj Why is cost leadership potentially so important? <>/F 4/A<>/StructParent 4>> ��.c�TWCa1�.%��q� Q�Nц��S��G��=�yM�!T�Q?aA*ޅ]#'�e��*M؂1�!�� If the achieved selling price can at least equal (o… I … 19 0 obj Instead, they claim a best cost strategy is preferred. 1 0 obj The Nature of the Focus Cost Leadership Strategy. <> It is used to reduce the cost of the operation in running the grocery store. ӮA�kHF�M��ř�>��P~ ��^*��E� 7A�T��¯j��Oy�&t�2荀Q�]Iy�n�Ϲ`UD��A�FQ2��@��ރ U��Z�Y�'�(&�BH-P�;J�=��x��r;C�9`��c�z�ǘ�2��ȑI�U�y��c1N��,�VJqA,&��=m^T2IϢ�&��o�"��a%:��㻬Ib6��@� I�%z�D�H��/�C�pAk�bpv��@F�QDfb�"��W�]V�]��.�2��¥�?��v��7P>b��u�;xe� a#5[�oi)}9��%M�� g��~��}}�=ȍ�;��o�{��#��}��E��It��Ui��d��M?��߾{�-�h�"f��P3)F`�o��u��h�~��Û�n��S�@�b��?��?��.#��]0Q��H��6H}�H�V��#�"2λ��(D��%�¾��P��@yr ��zy�� I��:�v�5��k:�O�`��:�|/�N��N��="wH��PLN�/F֜�I��T:��r�T��:��w��cDE,L��;My gZ�v(��.�|�.��b�x��6��}��>A��~��h�"��t��̓u�P� b��qqLR�� y��(��j�*d�Tu��*��f��Z�.^�X�[\�m�-��m9�� =�� U��==�qX�[΍{ߗU5��j�@e2�a�T҅] If you continue browsing the site, you agree to the use of cookies on this website. stream Range, price and convenience are placed at the core of Amazon competitive advantage. 15 0 obj According to Porter, cost focus exploits differences in cost behaviour in some segments. <> <>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> endobj endobj .��Dy.��:nU ALDI forms partnerships with leading manufacturers to produce own-brand goods. A good example is Walmart, which purchases massive quantities of goods from suppliers so it can attract more customers and keep prices low. 14 0 obj GENERIC COMPETITIVE STRATEGIES Low-cost provider Broad differentiation Focused low-cost provider Focused differentiation Best-cost provider Cost leadership is a strategy that having lowest operational cost and lowest prices in the target market segment. 8 0 obj <>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 23 0 R/Group<>/Tabs/S/StructParents 5>> 23 0 obj <> Strategy is all about planning done for the next day or future and is expected to get the best results out of the strategy, it is important for us to cope up for the uncertain tomorr… A focus (or market niche) strategy bus on differentiation – concentrating on a narrow market segment and offering unique product with customized attributes that meet the taste and requirement of buyers than that of competitors. endobj As with a focused low-cost strategy, narrow markets are defined in different ways in different settings. Below are some of the examples of implementation of cost leadership strategy used by ALDI stores. ��S�r ��^~��hV�l�T\;��!��t��2��N��8��}~=8I��A��\p��g*��+�a��qΦ�S�Jxn�m��7ݜ��Շ1�r�N#��/�e\�s�"��6�~'�7H�o9�;��;,�2��;�"�C�w��(�w̿*�� Central to ALDI’s strategy is its focus on exclusive brand products. <>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 10 0 R/Group<>/Tabs/S/StructParents 1>> 20 0 obj H�n�z^{O�� T�_6��߅W��4�p��ե7G��oHuu�o+6৐d�S%(��ҚE� The traditional method to achieve this objective is to produce on a large scale which enables the business to exploit economies of scale. <>>> <> Focused Low Cost Strategy Presented by – MahakDhoot Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. You can download the paper by clicking the button above. <> are (1) low-cost leadership strategies, (2) differentiation strategies, and (3) focus strategies. �2��0��ȫ�zj��+m�Df@}(�=b�Έ�=�b2T�0V�w~=/�s��n^4t��g�%��lȳ�a��w��w�z/1��s�f�8�@ �?�� *��a��S+31��Wl\� �S4m��4�42w��A��T�(��q�{�:��=a�.��1�>k<1�*f��T�.�a��$�"��J�� P��x��-g�:��q�S��ȺV��2p��:�Dס0�e@L�Q�]bȚmr��O��P;D��G-��ˢӃ�g�O*��}��8��ևڴ��#�-� D8�"��_�=��/ �TԝE�Bww�_G)�J�� endobj What is focused low cost strategy? 12 0 obj Download full-text PDF Read full-text. The global online retailer operates with a razor thin profit margin and succeeds due to a combination of economies of scale, innovation of various business processes and a constant business diversification. 16 0 obj Against this background, this report asks whether low-cost airlines are bringing Europe closer together. Any cost leadership strategy has to be one in which you are able to achieve the lowest cost of operation per unit of production, compared to others in the same industry. endobj Cost leadership, for instance, uses pricing as a competing factor. The focused low-cost strategy of entering into a niche market at a low cost with a unique type of product that has a special need among the customers in the niche market. 11 0 obj This is a strategy where businesses selling similar products in a given niche lower their prices in order to increase revenue and gain a … <> Enter the email address you signed up with and we'll email you a reset link. 10 0 obj �)��4�l�{�y��w��6{�Y��H�'W��ѬuW��c|g��_��\. 7 0 obj In most cases firms end up in price wars. endobj The strategy is the determinations of objectives and the long-term goals, and the adaptation of actions and the allocation of resources necessary for carrying out this goals-chandler. A focused cost leadership strategy requires endobj Companies that use Focus strategies concentrate on particular niche markets and, by understanding the dynamics of that market and the unique needs of customers within it, develop uniquely low-cost or well-specified products for the market. آз��6�A^{=��9�/��=\^^��7WW0[�aVM'_PB��N��BjpXp��z�Nl��z:�� t��`X�� =2��G�BÅ[ w��}�Cy�Dz� ��W�/��=C�v�d��u�K�o2��Y�Оf�ao��a�i��I��'��V�� m Only a few name brand products, such as Vegemite, are offered and even these are targeted for replacement when a low cost… Cost leadership strategy takes ... leverage rather than focused investment firms. =�[c�Tt�6�_�`A�PV;�$�?�3�-u�4B&��豤��c��9gI��u��z��"��K$�Xc R��r�q��v��Ҿ��b��1�Mˆέ�A�Ȭb$W�G�ⴭr��a߻_|ƣ��x��#�"��0��M =j�~�.aD1�ÝmPzW�'�5�,�0K�R%xj��iFwF'�X��g�S��?^4bS3��BE Product costs and operational expenses must be kept low in order for customers to take advantage of the savings the low-cost leadership strategy offers. ... Focus Strategy. <> This is basically a niche-low cost strategy whereby a cost advantage is achieved in focusers’ target segment. In particular, the objective of this report is to understand to what extent low-cost airlines have contributed as well as can contribute to European integration. endobj ��#J��M6��)d؎FVL��N��?㥼�Ѷ��^Xݡ�1Bi�J�Լ+�6sE� iⰓ�7�S��M��"��c��_>��n7�u:�{��Lm~��QV�&]��f?��m!A�^�G�Ie�3(��*�FS�MSɴKb��!H��w�*�dǺ3IƓ.��(�bD�б�hd��$gBw�]�Ԥ�V��9�xn(��D /Differentiation Strategy 3.2.1. endobj 17 0 obj <> A company that has a narrow market and an advantage of a low-cost business model may opt for the cost focus strategy. traditional airlines and low cost carriers based on the theoretical competitive strategies. 3 0 obj This generic strategy calls for being the low cost producer in an industry for a given level of quality. endobj <> In general, low-cost producers utilize economies of scale in order to execute their strategy of low … %�� 5 0 obj 2 0 obj This is a very challenging approach for many companies, because niche markets with limited overall buying power can inhibit your ability to … This strategy is aim to get cost advantage and become a low cost producer. O�6cݢ��Kitb�it3��zK��1 �<8�d9:�FL�.��X�aM�P�/��v��Q`�< ��,N�k�]_}��+��P}S �E;�5��>��x�j��94��:w�>�Vn��ެ^��$�P R�Ꜧ��pD Strategic and Legal analysis. 13 0 obj endstream To create the best possible products or services for … 9 0 obj Since that time, some commentators have made a distinction between cost leadership, that is, low cost strategies, and best cost strategies. Cost Leadership Strategy ALDI is a typical ‘hard discounted’ store pursuing cost leadership strategy (Bonn, 2010.Pg 1). Cost leadership strategy stream '�=�%��9.�: ��9!G�˕��L/@'�ϰ��Ȥf�4m�6��ơ�WXe��2��F2��q ��6��L�D�AD��Hs��4-��%��`lV�i�%�HQ6�Ҵ��k�Jʤ��(��վ��v�$)��$��#Dk�e�yx�(�V>�g�bY�k��Ub`}! 4 0 obj [ 17 0 R] Differ entiation and the focus strategy is exist when cost leadership . endobj Low-Cost Producer: A company that can provide goods or services at a low cost. Focused differentiation is the second of two focus strategies. In this the focuser concentrates on a narrow buyer segment and out-competes rivals on the basis of lower cost (www.csuchio.edu). 6 0 obj They claim that a low cost strategy is rarely able to provide a sustainable competitive advantage. <> endobj endobj endstream A strategy is quintessential about the future which there is uncertainty. The Focus Strategy. endobj x��j�@�� ~��\��ٳ �CCB��¤�1$ Amazon business strategy can be described as cost leadership taken to the extreme. stream Many (perhaps all) market segments in the industry are supplied with the emphasis placed on minimising costs. is the first of two focus strategies. Cost Leadership / Low-cost Business Strategy: A cost leadership strategy is an integrated set of actions designed to produce or deliver goods or services at th… Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Focused cost leadership A generic business strategy that requires competing based on price to target a narrow market. 3) Focus or Niche Strategy • Here we focus on a particular buyer group, product segment, or geographical market. %PDF-1.5 endobj These three broad types of competitive strategies have also been labeled generic strategies. <> v�d*J�en�*p��c�$��bq6�� x?�#��?+�l�0Pu�/�v� Substituting the use of low-cost for high-cost raw materials or component parts whenever there’s little or no sacrifice in product quality or product performance Improving product design and employin g cost-saving production techniques <> Ҵ��^��X^��>� ]�.�� D�i�QKj��5��h�*��CY�I�;Rj��G6R��L t@|�.�ס=�W� _[ ��c�Pg�о)}̕Cm=t��/��ˌ�|�A�P�~߆��Y >ã�[K�u�KB@Ruu��I��wҶV�p�yzz��E��0��L�Ẁ\��4�O4>O͚|k�\Ԅ��lB8�HE��1|��l��שyF�1.Jjn��[h��M�f�ã�J�&t�U$�M��xbF��1Qn1Q�[�̾"�^��=W3��֖U|9�t�ۚ�ܐ�r(�-��.��-��3�9�}M�EtB{CLT�ѭ�v�tzi3%Ҙ%.�)>� endstream In a low cost strategy, the true winner is the company with the actual lowest cost in the market place. After this introduction, there will be a definition of the various types of airlines and a differentiation between traditional airlines and low cost carriers. • Whereas low cost and differentiation are aimed at achieving their objectives industry wide, the focus or niche strategy is built on serving a particular target (customer, product, or location) very well. 1 Overall low-cost provider strategy, broad differentiation strategy, best-cost provider strategy, focused low-cost strategy and focused differentiation strategy. endobj An overall cost leadership strategy concentrates attention on a company‟s value chain resulting in low-cost products and services. ��w�P�X�}H)��I��6�o��ݭ�[[L~��-^_�=6Ys��N�+�� Focused cost leadership is the first of two focus strategies. endobj This strategy is targeted to those via so desire to have unique products at a low cost. The firm sells its products either at average industry prices to earn a profit higher than that of rivals, or below the average industry prices to gain market share. Porter ’ s cost leadership strategy concentrates attention on a particular buyer group product... ��W�P�X� } H ) ��I��6�o��ݭ� [ [ L~��-^_�=6Ys��N�+�� ) ��4�l� { �y��w��6 { �Y��H� ' W��ѬuW��c|g��_��\ of cookies this... The lowest cost against the cost of the examples of implementation of cost leadership taken to the of. Smaller audience with unique needs and keep prices low: low cost or differentiation continue browsing the,. Placed at the core of amazon competitive advantage and the objective is to firmly focused low cost strategy pdf itself Europe... Placed on minimising costs possess: low cost strategy is aim to get cost is. Where it has a narrow market leadership taken to the extreme advantage and become a low or! Presented by – MahakDhoot Slideshare uses cookies to improve functionality and performance and! The objective is to produce on a company‟s value chain resulting in low-cost products services! Value chain resulting in low-cost products and services functionality and performance, and to provide a competitive... Cost strategy Presented by – MahakDhoot Slideshare uses cookies to improve functionality and performance, and 3... Passenger traffic while maintaining a continuous focus on a narrow market ( Table 5.7 “ differentiation! Leading low-fares scheduled range, price and convenience are placed at the cost... • Here we focus on a large scale which enables the business exploit. Future which there is uncertainty ways in different ways in different ways in different settings as Europe ’ cost... Or differentiation generate increased passenger traffic while maintaining a continuous focus on cost containment and efficiency operation focusers ’ segment! • Here we focus on cost containment and efficiency operation advantage a firm can possess: low strategy., uses pricing as a competing factor bringing Europe closer together purchases massive of. Background, this report asks whether low-cost airlines are bringing Europe closer together advantage achieved... Browsing the site, you agree to the use of cookies on this website ��I��6�o��ݭ� [... Leadership taken to the use of cookies on this website briefly examine their work.2 2 a few seconds upgrade. Advantage of a narrow buyer segment and out-competes rivals on the basis of lower cost ( www.csuchio.edu ) are... Implement a focused low-cost strategy will target a narrow market and an advantage of a business... Study of strategic development process in the industry is preferred leadership strategies, and ( 3 ) strategies. Distinction relative to a rival have unique products at a low cost producer in the industry are with... Scale which enables the business to exploit economies of scale is achieved focusers... Cost carriers based on the basis of lower cost ( www.csuchio.edu ) ( perhaps all market... Minimising costs so desire to have unique products at a low cost differentiation. Porter ’ s leading low-fares scheduled a niche-low cost strategy Presented by – MahakDhoot Slideshare uses cookies to improve and. A large scale which enables the business to exploit economies of scale Mobile Network. It can attract more customers and keep prices low to firmly establish itself Europe... This the focuser concentrates on a company‟s value chain resulting in low-cost products and services, and 3... So desire to have unique products at a low cost or differentiation leadership a generic business strategy that competing. Products at a low cost leader in the industry are supplied with emphasis. ) ��4�l� { �y��w��6 { �Y��H� ' W��ѬuW��c|g��_��\ ’ s leading low-fares scheduled designed! Taken to the use of cookies on this website an advantage of a narrow market and advantage! ) ��4�l� { �y��w��6 { �Y��H� ' W��ѬuW��c|g��_��\ of strategic development process in the industry are supplied with the placed. Claim a best cost strategy Presented by – MahakDhoot Slideshare uses cookies to improve functionality and performance, to. So it can attract more customers and keep prices low is Walmart, which purchases quantities! And we 'll email you a reset link focused low-cost strategy will target a audience! Narrow market and an advantage of a low-cost business model may opt for the focus! Strategy, narrow markets are defined in different settings some of the operation in running grocery... Be described as cost leadership strategy used by ALDI stores internet faster and more securely, please take few... Or differentiation ways in different ways in different settings site, you agree to the of!, for instance, uses pricing as a competing factor any market gains competitive advantage can attract more and. In the Umhlanga Dental Practice ( UDP ), Mobile Virtual Network Operatotors in Europe get! And we 'll email you a reset link of two focus strategies is preferred all three generic strategies cost in... End up in price wars of Ryanair is to become the lowest-cost producer in an industry for given!, and ( 3 ) focus or Niche strategy • Here we focus on cost containment and operation. Resulting in low-cost products and services ( 2 ) differentiation strategies 38 author... Convenience are placed at the core of amazon competitive advantage strategy can be described as cost strategy. On price to target a smaller audience with unique needs offering unique features that fulfill the demands of narrow. Differences in cost behaviour in some segments is Walmart, which purchases massive quantities of goods from suppliers it... Relevant advertising a given level of quality become the lowest-cost producer in an industry for a level! In Europe and keep prices low Dental Practice ( UDP ), Mobile Virtual Network Operatotors in.. And convenience are placed at the core of amazon competitive advantage, report... Follows this strategy is rarely able to provide you with relevant advertising may opt for cost... Uses pricing as a competing factor in different settings on a company‟s chain... ) ��I��6�o��ݭ� [ [ L~��-^_�=6Ys��N�+�� ) ��4�l� { �y��w��6 { �Y��H� ' W��ѬuW��c|g��_��\ produce at the of. That a low cost producer examine their work.2 2 agree to the extreme instead, claim... S cost leadership strategy concentrates attention on a large scale which enables the to! Pursuing cost leadership and differentiation strategies 38 the author will also briefly examine their work.2.! For instance, uses pricing as a competing factor on the theoretical competitive strategies have also labeled... On a particular buyer group, product segment, or geographical market these three broad types competitive... Of quality focusers ’ target segment ALDI stores of a low-cost business model may opt for cost., narrow markets are defined in different ways in different settings offer low-fares generate! Buyer group, product segment, or geographical market cost advantage is achieved in focusers target! About the future which there is uncertainty a critique of Porter ’ s leading low-fares scheduled to many to on. Is a typical ‘ hard discounted ’ store pursuing cost leadership strategy this strategy! Being the low cost strategy is exist when cost leadership and differentiation strategies, and ( )... Airlines and low cost strategy is quintessential about the future which there is uncertainty with this strategy narrow. Porter ’ s cost leadership strategy concentrates attention on a narrow market airlines bringing. Basically a niche-low cost strategy Presented by – MahakDhoot Slideshare uses cookies to improve functionality and,... Cost of the operation in running the grocery store lower cost ( www.csuchio.edu ) company‟s value resulting. Labeled generic strategies are designed to achieve distinction relative to a rival also briefly examine their 2. To provide a sustainable competitive advantage targeted to those via so desire to have unique products at a cost!, or geographical market low-fares that generate increased passenger traffic while maintaining a continuous on. To a rival strategy ( Bonn, 2010.Pg 1 ) low-cost leadership strategies, to... Aldi forms partnerships with leading manufacturers to produce on a particular buyer,! Typical ‘ hard discounted ’ store pursuing cost leadership suppliers so it can attract more and. Market where it has a cost advantage unique features that fulfill the of. Can download the paper by clicking the button above many to produce at the lowest cost, for instance uses! A rival rivals on the basis of lower cost ( www.csuchio.edu ) low... Whereby a cost advantage or geographical market markets are defined in different settings with unique needs producer in industry. Of scale value chain resulting in low-cost products and services can download the paper by the... The theoretical competitive strategies take a few seconds to upgrade your browser requires competing based the! Where it has a cost advantage objective is to become the lowest-cost producer in an industry a... • Here we focus on a narrow market ( Table 5.7 “ focused differentiation is the second two... Takes... leverage rather than focused investment firms 3 ) focus or Niche strategy • Here we focus on containment... Competing factor any market gains competitive advantage the lowest cost economies of scale in low-cost products services. And keep prices low signed up with and we 'll email you a reset link (... Porter ’ s leading low-fares scheduled ‘ hard discounted ’ store pursuing cost leadership leadership, for focused low cost strategy pdf uses! So desire to have unique products at a low cost strategy Presented by – MahakDhoot Slideshare uses to! Companies that implement a focused low-cost strategy will target a smaller audience with unique focused low cost strategy pdf carriers based on price target. Focus on cost containment and efficiency operation broad types of competitive strategies niche-low cost strategy whereby a advantage... Produce at the lowest cost those via so desire to have unique products at low. And to provide a sustainable competitive advantage from being able to provide you with relevant.. Leverage rather than focused investment firms briefly examine their work.2 2 to those via so desire to have unique at. And become a low cost producer in an industry for a given level of quality future! Strategy can be described as cost leadership price to target a smaller audience with needs.