...What is the Base of the Pyramid? Why is it important? The base of the pyramid is the majority of humanity which is approximately five billion people. The base of the pyramid is important because it hold the vast majority of people in the world, which shows that more than half of the consumers are part of the base. Thus, illustrating that if MNEs ignore the needs and wants of the vast majority of the population, their products/services will have a hard time succeeding in emerging economies. What are the similarities and differences between GE’s traditional innovation and reverse innovation? GE’s reserve innovation is the exact opposite of its traditional innovation. Reserve innovation as used by GE is creating products for low-income countries with an affordable price tag, and then offering those products to developed countries, at what it will be seen a low-cost price tag. While GEs traditional innovation strategy, was to develop products for developed economies at an expensive price, then doing certain modifications to the products and selling them in low-income countries at a not necessarily low price for those countries. Why is GE so interested in reverse innovation? GE is interested in reserve innovation because the company realized that in order to compete and stay ahead of its current and new competitors; it must continue to innovation in low-income countries and take its products global. As stated in the case, “reverse innovation isn’t optional; its oxygen” (Peng...
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...Worth 10% of your final grade Requirement: Please read the case on Pages 16 & 17 – GE Innovates from the Base of the Pyramid and answer the questions below. This is individual work. Format of the report: You are to submit your report with a cover sheet and include your names (both English and Chinese), my name, date of assignment, name of assignment and your class section( OLA,OLB,OLC). *****Since Class OLC will not meet on Monday Oct 13 due to the Canadian Thanksgiving holiday, you must email me your report on Oct 13 by midnight AND submit a paper copy on Tuesday Oct 14. If you do not submit BOTH reports you will get an automatic zero. Length of Report: This report must be a minimum of 3 pages including the cover page. This report must be typed. For classes OLB and OLA, it is due the beginning of the class. If you arrive late for class, I will not accept the report. Q1. Describe what is meant by “Base of the Pyramid” in the title of this case. Q2. What are the similarities and differences between GE’s traditional innovation and reverse innovation? Q3. Why is GE so interested in reverse innovation? Q4. What are the main concerns that prevent Western MNEs from aggressively investing in emerging economies? What are the disadvantages if they choose not to focus on emerging economies? Q5. Why is a leading US MNE such as GE afraid of emerging multinationals from emerging...
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...July-December, 2013 Business Perspectives and Research Reverse Innovation: A Gift from Developing Economy to Developed Economy Ritu Sinha 1 Abstract In the era of globalization, emerging market economies are surfacing into centers of innovation. These innovations associate with low-cost products like healthcare devices, wind power, micro finance, electric cars and many more. The success of these frugal innovated products enable developed countries to adopt well. Hence, reverse innovation refers to those innovations which are adopted by developing countries first and then by developed countries. These innovative products are a result of cutting edge technology, common sense and ingenious use of local commodities with the price range that is affordable to a huge mass of consumers like Tata's one lakh ($ 1677) car Nano, Nokia's sturdy mobile phones, the Chottu Cool' refrigerator and many more. These products might be conceptualized for the customers at the bottom of the pyramid still not limited by scaled down versions meant for the lower end. This paper is an attempt to evaluate how reverse innovations are possible in emerging markets and how it can unlock business opportunities at a global scale. Keywords Emerging market, frugal, innovation, product reverse, technology 1. Introduction In today's changing and competitive environment, innovation is must for the survival of any kind of business in the marketplace. The primary objective of any business firm is to understand...
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...Godrej Agrovet Website: www.godrej.com Introduction to Corporate: Godrej Group consists of 2 corporate entities: 1. Godrej Consumer Products 2. Godrej Industries Godrej Industries Ltd. (GIL) is India’s leading manufacturer of oleo-chemicals and makes more than a hundred chemicals for use in over two dozen industries. It also has a major presence in food products such as refined oil and tetra pack fruit beverages. Besides, it operates businesses in medical diagnostics and real estate. Besides its three businesses, Godrej Industries also runs 4 divisions- Corporate Finance, Corporate HR, Corporate Audit and Assurance and Research & Development- which operate on behalf of the entire Godrej Group. GIL has built a strong manufacturing base capable of delivering international quality products at competitive prices. It operates two plants, one at Valia in the Indian state of Gujarat and a second at Vikhroli in suburban Mumbai. The company’s products are exported to 40countries in North and South America, Asia, Europe, Australia and Africa, and it leads the Indian market in the production of fatty acids, fatty alcohols and AOS. Godrej Consumer Products (GCPL) is a leader among India’s FMCG companies, with leading Household and Personal Care Products like Good Knight, Cinthol, Godrej No 1, Expert, Hit, Jet, Fair glow, Ezee,...
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...Innovation And Organization Structure 1 Report on Innovation & Organization Structure With case study on Google Inc. Ltd. Prepared By:Akash Tripathy (MS12A005) Deepti Agrawal (MS12A031) Nanda KumarA(MS12A044) Ravinder Reddy(MS12A063) Shine Nagpal (MS12A083) Sunaek Sivadas Vishesh Kumar Agarwal(MS12A103) Innovation And Organization Structure 2 TABLE OF CONTENTS Introduction…………………………………………………………………………………….3 Innovation a. What is Innovation? ……………………………………………………………..........4 b. What are the different types of innovation possible in the organization?....................5 Organization Structure a. What is Organization Structure?.................................................................................9 b. Role of Organizational structure in Innovation…………………………….….……..9 c. The nine common characteristics of innovative organization……………….….…...9 Innovation in Organization a. Examples of Organization promoting Innovation…………………………....…......10 b. Common practices found among organizations fostering innovation………………12 c. Ways to Find Innovation at an Organization………………………………….……..12 d. Processes at organization to drive Innovation ……………………………….……..13 Case study of an Organization- Google a. Organization structure of Google……………………………………………………14 b. Google’s organization chart…………………………………………………..….….19 c. Products of Google……………………………………………………………….….20 d. Advertising services of Google………………………………….…………….…….21 e. Communication and publishing tools of Google………………...
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...Disruptive Business Model Is a Valuable Corporate Asset 17.3 Two Types of Disruption 17.3.1 New-Market Disruptions 17.3.2 Low-End Disruptions 17.4 Shaping Ideas to Become Disruptive: Three Litmus Tests 17.4.1 Could Xerox Disrupt Hewlett-Packard? 17.4.2 Conditions for Growth in Air Conditioners 17.5 Afterword 17.6 Acknowledgements 17.7 Appendix: A Brief Description of the Disruptive Strategies of the Firms in Figure 4 17.8 Commentary by Donald A. Norman 17.8.1 The theory is easy to understand: the practice is extremely difficult 17.8.2 Comment on the Chapter 17.8.3 References 17.9 Commentary by Marc Steen 17.9.1 A social perspective: On empowerment, flourishing, cooperation and creativity 17.9.2 Empowering people at the 'base of the pyramid' to flourish 17.9.3 Design thinking, cooperation and creativity in public services 17.9.4 References 17.10 Commentary by Paul...
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...SIEMENS COMPANY ANALYSIS Matthew Ady, Mark Marcus, Mariana Florea Strategic Management Dr. Carrick May 3, 2014 Section I: Energy Sector Macro Analysis The external environment for international business is always complicated and dynamic. The macro-environment analysis of Siemens is based from two perspectives: one is that Siemens run its business in German and the other condition is that it runs its business internationally or in other destination countries. Political: Political factors always have great impact over the macro-environment in which the business runs, so multi-national companies need to do research on political environment before their international marketing planning. Siemens is doing well in evaluating political risk before it enters a new market. It is lucky for it that Germen government has steady relationship with lots of countries. Siemens often need to evaluate the historical relationship between countries that would benefit or do harm to its business. The influence of communities or unions for trading is also in its consideration. For example, trade barrier is also implemented in different firms of local laws. If necessary, a report regarding the political risks needs to be completed before its international marketing (Bell, 2001). Economic: The economic situation in destination countries, the impact of currency fluctuations on exchange rates, the development of local market, the local market structure (Barney, 1996), the local human resources...
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...Part Five GLOBAL STRATEGY, STRUCTURE, AND IMPLEMENTATION Chapter Eleven The Strategy of International Business OBJECTIVES • To identify how managers develop strategy • To examine industry structure, firm strategy, and value creation • To profile the features and functions of the value chain framework • To assess how managers configure and coordinate a value chain • To explain global integration and local responsiveness • To profile the types of strategies firms use in international business Chapter Overview Chapter Eleven presents tools and concepts used in analyzing and formulating international business strategy. First, the relationship between industry structure and competition in global industries is examined. Next, value chain analysis is used to identify the internal capabilities of the firm that can be leveraged to create competitive advantage. Effective international strategy depends greatly on the proper configuration and management of a company’s global value chain. The sometimes conflicting demands of global integration versus local responsiveness are examined. Finally, a typology of strategic alternatives including multidomestic, international, global, and transnational strategies is presented. CHAPTER OUTLINE OPENING CASE: Value Creation in the Global Apparel Industry [See Fig 11.1 and Map 11.1.] Zara, a large clothing retailer headquartered in northwest Spain, has used an innovative...
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...GMITE-VII By |Name |Registration No. | |Gopakumar Nair |GMITE- 22 | |Jijo Mathew |GMITE | |P G Rajesh Nair |GMITE- 63 | |Name |Registration No. | |Gopakumar Nair |GMITE 22 | |Jijo Mathew |GMI | Name Registration no. Gopakumar Nair GMITE 22 Jijo Mathew Rajesh Nair [pic] Executive Summary From the conception level to the launch of a product/service and then to sustain and enhance market acceptability, each product /service follows certain marketing techniques. Marketing strategies decide the futuresucess of a product, be it services or a new product, it is the strategies adopted to identify the customers, positioning and pricing of the product which determines the life of the product in the market. In this paper we have researched on some of the Innovative strategies successfully employed by automobile companies for new customer creation This document is a study about those marketing nuances which are required in the life cycle of every product /service. The three main marketing strategies that are discussed in this paper are...
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...thomas a . meyer How Great companies Get Started in terrible times Innovate! Innovate! How Great Companies Get Started in Terrible Times THOMAS A. MEYER John Wiley & Sons, Inc. Copyright © 2010 by Thomas A. Meyer. All rights reserved. Published by John Wiley & Sons, Inc., Hoboken, New Jersey. Published simultaneously in Canada. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 646-8600, or on the web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at http://www.wiley.com/go/permissions. Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose...
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...CHAPTER 1 WHAT IS CSR? eople create organizations to leverage their collective resources in pursuit of common goals. As organizations pursue these goals, they interact with others inside a larger context called society. Based on their purpose, organizations can be classified as for-profits, governments, or nonprofits. At a minimum, for-profits seek gain for their owners; governments exist to define the rules and structures of society within which all organizations must operate; and nonprofits (sometimes called NGOs—nongovernmental organizations) emerge to do social good when the political will or the profit motive is insufficient to address society’s needs. Aggregated across society, each of these different organizations represents a powerful mobilization of resources. In the United States, for example, more than 595,000 social workers are employed largely outside the public sector—many in the nonprofit community and medical organizations—filling needs not met by either government or the private sector.1 Society exists, therefore, as a mix of these different organizational forms. Each performs different roles, but each also depends on the others to provide the complete patchwork of exchange interactions (products and services, financial and social capital, etc.) that constitute a well-functioning society. Whether called corporations, companies, businesses, proprietorships, or firms, for example, for-profit organizations also interact with government, trade unions, suppliers,...
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...“Listening to customers must become everyone’s business. With most competitors moving ever faster, the race will go to those who listen and respond more intently”. -Tom Peters, Thriving on Chaos Chapter 1: Conceptual Framework for CRM What is Customer Relationship management? Before we begin to examine the conceptual foundations of CRM, it will be useful to define what is CRM. A narrow perspective of customer relationship management is creating a team relationship among sales, marketing, and customer support activities within an organization. Another narrow, yet relevant, viewpoint is to consider CRM only as customer retention in which a variety of after marketing tactics is used for customer bonding or staying in touch after the sale is made. Shani and Chalasani define relationship marketing as “an integrated effort to identify, maintain, and build up a network with individual consumers and to continuously strengthen the network for mutual benefit of both sides, through interactive, individualized and value-added contacts over a period of time”. The core theme of all CRM and relationship marketing perspectives is its focus on co-operative and collaborative relationships between the firm and its customers, and/or other marketing actors. CRM is based on the premise that, by having a better understanding of the customers’ needs and desires we can keep them longer and sell more to them. Growth Strategies International...
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...Unlocking the Potential of Small and Medium sized Enterprises In West Africa: A Path for Reform and Action By Ibrahima Thiam Master, Russian Friendship University (1990) Submitted to the MIT Sloan School of Management in Partial Fulfillment of Requirements for the Degree of MASTER IN BUSINESS ADMINISTRATION At the MASSACHUSSETTS INSTITUTE OF TECHNOLOGY June 2007 C 2007 Ibrahima Thiam. All rights reserved The author herby grants to MIT permission to reproduce and to distribute paper and electronic copies of this thesis document in whole or in part in any medium now known or hereafter created. r Signature of author: V l/1 - / -MIT SanS/hool of Management ~ / May 11, 2007 Certified by: Alex (Sandy) Pentland Thesis Supervisor Toshiba Professor of Media Arts and Sciences Accepted by: by: Accepted MASSACiU'E) iS INSTF- I _ Stephen J. Sacca Director Sloan Fellows Program in Innovation and Global Leadership OF TECHNOLOGY JUL 0 2 2007 LIBRARIES l •ei zGwxS UNLOCKING THE POTENTIAL OF SMALL AND MEDIUM SIZED ETERPRISES IN WEST AFRICA: A PATH FOR REFORM AND ACTION By Ibrahima Thiam Submitted to the MIT Sloan School of Management on May 11, 2007 In Partial Fulfillment of the Requirements for the Degree of Master in Business Administration ABSTRACT Small and medium sized enterprises (SMEs) have proven their dynamism in West Africa. They are perceived by policy makers as an important reservoir for growth. The African Development Bank considers they represent over 90 % of...
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...Brand Management (MKT624) VU Lesson 1 UNDERSTANDING BRANDS – INTRODUCTION Brand management as one of the marketing functions has been around for as long as we have known professional marketing. But, it has been a part of the traditional marketing approach in which many functions of today’s brand management were performed in a spread out fashion by the marketing manager and a combination of his team members like the sales manager, the advertising and communications manager, and the marketing administration manager to name a few. The terminology of brand management was not used. Brand management, in its present integrated form, has come into limelight and focus over the last 20 years. The functional execution has undergone transformation in terms of its description as a substantive job under one head. This implies that the overall functions of brand management are full of substance and therefore are described specifically under the head brand management and not as disparate parts of the overall marketing functions. In other words, brand management has not lost its primary roots that are well-entrenched in marketing; it only has acquired explicitly defined dimensions within which the function operates. To further elucidate the point, there have been functional adjustments within the overall marketing functions only to bring into clear and sharp focus the specific functions and job of brand management. Brand management now presents itself as a distinct part of an integrated...
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...products (goods and services) of appropriate quality. • Usually associated with some form of measurement and inspection. • Egyptian wall paintings from around 1450 B.C. show evidence of measurement and inspection. The Age of Craftsmanship • During the Middle Ages in Europe, the skilled craftsperson served as both manufacturer and inspector. • Manufacturer – dealt directly with the customer. • Quality assurance was informal, every effort was made to ensure that quality was built into the final product by the people who produced it. • During the middle of the 18th century, Honore Le Blanc developed a system for manufacturing muskets to a standard pattern using interchangeable parts- -- Thomas Jefferson then brought the idea to America -- In 1798 the U.S. government awarded Eli Whitney a contract to supply 10,000 muskets to the government in two years’ time. -- Overall the concept of interchangeable parts was recognized, and it eventually led to the industrial revolution. The Early 20th Century • The work of Frederick W. Taylor, “The Father of Scientific Management”, led to a new philosophy of production. • His philosophy was to separate the planning function from the execution function. • Managers and engineers – given the task of planning; supervisors and workers - the task of execution. •...
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