...Reinventing Your Business Model by Mark W. Johnson, Clayton M. Christensen, and Henning Kagermann In 2003, Apple introduced the iPod with the iTunes store, revolutionizing portable entertainment, creating a new market, and transforming the company. In just three years, the iPod/iTunes combination became a nearly $10 billion product, accounting for almost 50% of Apple’s revenue. Apple’s market capitalization catapulted from around $1 billion in early 2003 to over $150 billion by late 2007. This success story is well known; what’s less well known is that Apple was not the first to bring digital music players to market. A company called Diamond Multimedia introduced the Rio in 1998. Another firm, Best Data, introduced the Cabo 64 in 2000. Both products worked well and were portable and stylish. So why did the iPod, rather than the Rio or Cabo, succeed? Apple did something far smarter than take a good technology and wrap it in a snazzy design. It took a good technology and wrapped it in a great business model. Apple’s true innovation was to make downloading digital music easy and convenient. To do that, the company built a groundbreaking business model that combined hardware, software, and service. This approach worked like Gillette’s famous blades-and-razor model in reverse: Apple essentially gave away the “blades” (low-margin iTunes music) to lock in purchase of the “razor” (the high-margin iPod). That model defined value in a new way and provided game-changing convenience to...
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...Postal Service [USPS], 2002b). This organization reaches every United States household and its operations are often perceived as an indication of the efficiency of the entire federal government as a whole. After the historic gridlock of the Chicago Post Office in 1966, Postmaster General Lawrence O’Brien sought the political support of President Johnson for systemic change in the organization. President Johnson formed a “blue ribbon” commission of well-known business leaders and academia’s to study the Post Office Department. Their mission was to recommend how to change the Post Office Department and to also describe the best governmental organization model for its function. The President’s Commission on Postal Organization (Commonly called the Kappel Commission after its Chairman) presented the President with a plan in 1968, which lead to congressional testimony, but legislative action did not soon follow. Various factions, including the strong postal unions representing 740,000 votes, opposed the government corporation model. The unions vowed to fight any legislation supporting the change to a government corporation. 1 On March 18, 1970 over 36,000 postal workers in New York City went on strike over wage disputes and another 152,000 postal workers from eight large cities across the nation followed within a week. President Nixon had to send in the military to move mail in New York City. This...
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...TQM and Reinventing Government on the web-site for teachers and learners of English as a secondary language from a German point of view. [pic] Table of contents |Total Quality Management and Reinventing Government |HOME[pic]PAGE |[pic] |back to An introduction to QM |go on to: Committee:TQM Information |[pic] | |[pic] TOTAL QUALITY MANAGEMENT AND REINVENTING GOVERNMENT I. What is TQM? TQM is a new paradigm of management! TQM is both a philosophy and methodology for managing organizations. TQM includes a set of principles, tools, and procedures that provide guidance in the practical affairs of running an organization. TQM involves all members of the organization in controlling and continuously improving how work is done. Government agencies that use TQM agree that it is fundamentally different from traditional management. II. History of TQM! TQM Japanese Management? Yes and No! The American Walter A. Shewhart of Bell Laboratories developed a system of measuring variance in production systems known as statistical process control (SPC). Statistical process control is one of the major tools that TQM uses to monitor consistency, as well as to diagnose problems in work processes. His student W. Edwards Deming, a mathematical physicist and U.S Department of Agriculture and Census Bureau research scientist, was hired to teach SPC and quality control to the U.S. Defense industry. These methods were considered so important to the war effort that they were classified as military...
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...The Leader as a Strategist Report Organization: CVS Caremark Pharmacy CVS Caremark is a pharmacy innovation company that is reinventing pharmacy for better health. Company continuously developing new ways to improve access for patients, promote better health outcomes and control payor costs in a way that no pharmacy retailer or PBM could do separately. In 2007, CVS Corporation and Caremark Rx, Inc. merged; CVS Caremark became an integrated provider of prescriptions and related health services with an unmatched breadth of capabilities (www.cvscaremark.com). Today CVS Caremark is the market leader in the United States in multiple categories; such as in mail order pharmacy, retail pharmacy, specialty pharmacy, and retail clinics, and is a leading provider of Medicare Part D Prescription Drug Plans. Purpose, vision, and values of CVS Caremark Pharmacy: Purpose: Helping people in their path to better health Strategy: Reinventing pharmacy Values: Innovation – Demonstrating openness, curiosity and creativity in the relentless pursuit of delivering excellence. Providing more relevant, caring, expert guidance, more cost-effective solutions and even more convenient access. Collaboration – Sharing and partnering with people to explore and create things. Caring – treating people with respect and compassion so they feel valued and appreciated. Accountability – Taking personal ownership for the actions and their results 1. An analysis of the strategic cascade of the organization...
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...Last Friday, I attended the Social Enterprise Symposium hosted by the REDACTED. At the symposium, I attended “Reinventing the Economy: Value Creation & Capital Markets” as well as another event titled “Three Business Models for Social Impact.” While the first event focused on generating capital to fund social enterprises, the latter centered on new business models that attempt to drive social change. At the first event, “Value Creation and Capital Markets,” speakers discussed how socially responsible companies can still use traditional methods of financing. In particular, they tried to push five major points. These points were external options of financing, internal options of financing, crowd funding, appropriate sources for capital, and new financial mechanisms. Of the five, external financing is by far the most traditional method of financing. It includes equity, banks/credit unions, friends/family, and social investors. Social investors can be particularly helpful because they are typically the most interested in your cause. Additionally, philanthropic grants can be used, but often not a reliable means of funding. Government funding is more reliable, but requires more extensive obligations. Internal options can be another source of funding. For example, a company can collect accounts receivable as quickly as possible by offering discounts for timely payment or interest for late payment. On the other hand, they can also delay making payments on accounts payable...
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...expertise—we have more than 50 dedicated digital marketing experts in more than 30 locations—across digital analytics, market research, technology, business design, and online strategy helps clients bring the full potential of digital marketing to bear on their business. What we do Digital marketing engagements are typically multifaceted, solving for specific digital marketing challenges while building ongoing client capabilities. In addition to defining new roles and responsibilities and helping develop employees’ skills, we address technology infrastructure issues and identify potential partners. We work with clients primarily in three core areas: • Harnessing digital marketing to transform business effectiveness We help clients drive higher sales productivity and other performance gains through digital marketing. This shift involves mastering multichannel to generate distinctive and practical insights from digital sources as a starting point for clients to develop new contact strategies, streamline planning and execution processes, and upgrade internal capabilities. • Optimizing the customer experience across channels We work with clients to integrate the flow of the customer experience across channels (e.g., face-to-face, telephone), opening up new lead sources, supporting sales for smaller-value transactions, and creating new models for service. We continuously provide new and practical perspectives on the evolving Customer Decision Journey, and work with clients to make...
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...Resource Matrix Source Accountability Accuracy Objectivity Date Usability 1. Harvard Business Review: In downturn, provoke your customers. Keith M. Eades Article in Harvard Business Review. Ideas and concepts owned by author Author’s opinion Author’s opinion 2010 Should be able to use. Harvard Business review is a reputable publication. 2. Best Practice: Article in HVACR Distribution Business. Author Authors opinion Author’s opinion 2009 Likely to use as it discusses solution selling specifically. 3.European Journal of Marketing. Leff F. Bonney and Brian C. Williams Authors Authors’ opinions Authors’ opinions 2009 Likely to use at it discusses solution selling specifically 4.Selling with Integrity: reinventing sales through collaboration, respect, and serving. Sharon Drew Morgan Author Authors Opinion Author’s Opinion 1997 The author and I share the same philosophies so I hope to use some of the material. 5.Red Hot Selling: Power techniques that win even the toughest sale. Paul S. Goldman Author Authors Opinion Authors Opinion 2010 Not sure if I will use or not. Need to do more research. Source Accountability Accuracy Objectivity Date Usability 6. Silver Bullet Selling: Six critical steps to opening more relationships and closing more sales. G.A. Bartick & Paul Bartick Authors Authors Opinion Authors Opinion 2009 I like this because it is step or modular based. Would like to use. 7. The Everything...
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...When a company can see the future and try to predict the market on the products that they sell it is strategic management. Having the ability to predict and stay in the forefront of the economy for the products that a company can see is what sets business apart, those who can do this survive and those who cannot adapt will not last long. The University of Phoenix is a prime example of a company that is ever changing, while staying front of the competition. While the landscape of education continues to change, the university continues to be in the driver’s seat for those looking to go back to school. The university was designed for the working adult and continues to stay that way while reinventing the way education is brought to its students. If the university did not think strategically, they would not be around today. Education for adults these days is business, and being able to predict the marketplace changes is what sets the university apart from others in similar fields. The University of Phoenix incorporates every aspect of strategic management into its business model, from basic financial planning, to forecasting to even outsourcing to external resources to make sure that everything is staying on track. While education is a business there still needs to be a set of standards that the schools have to follow to make sure they are providing a quality education that can be used later in the marketplace. This is why the University of Phoenix has launched two of its biggest initiatives...
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...ALLAMA IQBAL OPEN UNIVERSITY, ISLAMABAD (Department of Business Administration) WARNING 1. PLAGIARISM OR HIRING OF GHOST WRITER(S) FOR SOLVING THE ASSIGNMENT(S) WILL DEBAR THE STUDENT FROM AWARD OF DEGREE/CERTIFICATE, IF FOUND AT ANY STAGE. 2. SUBMITTING ASSIGNMENTS BORROWED OR STOLEN FROM OTHER(S) AS ONE’S OWN WILL BE PENALIZED AS DEFINED IN “AIOU PLAGIARISM POLICY”. Course: Management Theory and Practice (8506) Semester: Autumn, 2011 Level: MBA/M.Com Total Marks: 100 Pass Marks: 50 ASSIGNMENT No. 1 (Units: 1–5) Note: Attempt and questions. Q. 1 a) Define manager and differentiate between general manager and functional manager. Also discuss the different levels of managers with suitable examples. (12) b) Discuss the contribution of Henry Fayol in the field of Management. (08) Q. 2 What is meant by rational decision making? Explain the steps of rational decision making with a suitable example. (20) Q. 3 a) Define Management By Objective (MBO). Differentiate between Strategic planning, Tactical planning and Operational planning. (2+10) b) Explain the following planning tools: i) Forecasting ii) Benchmarking iii) Scheduling iv) Budgeting (2+2+2+2) Q. 4 a) Define the term “Delegation”. Also describe the seven steps to effective delegation. (3+7) b) Explain the following concepts: i) Centralization ii) Decentralization iii) Authority iv) Span of control v) Span of Control (2+2+2+2+2) ...
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...even as its film-based businesses fell 18%. The key: product innovation, something Kodak knew how to do oh-so-well. The company designed one award-winning breakthrough after another to make digital photography nearly as simple as pointing and clicking. So why does Kodak Chief Executive Antonio M. Perez now dump on digital cameras, calling them a "crappy business"? Simple: While blazing growth of camera sales has helped blunt the effects of Kodak's fast-fading film revenues, it hasn't replaced the rich profits of the film business. Even the best mass-market cameras yield slim profit margins. So, although Kodak's digital camera business was a roaring sales success, it turned out to be a crushing profit disappointment. Perez, who arrived at Kodak in 2003 and became chief executive last year, had championed a dramatic change only to find it wasn't the right model for turning the company around. Now he's crafting yet another strategy for Kodak, its third in less than a decade. Building on the mistakes made and lessons learned in recent years, Perez is attempting innovation of another sort -- reinventing the company's core business model. He aims to make Kodak do for photos what Apple does for music: help people to organize and manage their personal libraries of images. He's developing a slew of new digital photo services for consumers that he expects to yield higher returns. They include everything from online photo sharing to a rapid-fire scanning system, called Scan the World, that...
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...Teaching is one of those careers where you learn something new every day, and many cite this as one of the main things they hope to get out of their career. In today’s ever changing world it becomes even more essential for a teacher to keep reinventing herself. In an effort to transform myself from a nominal teacher to a smart creative teacher one of the first things I need to do is a SWOT analysis for myself and understand which areas need to be enhanced further. From there it is important to take a systematic approach and address the six major competencies to become a smart creative teacher. Deep subject knowledge. A teacher is most likely to be well versed in her subject but a smart creative teacher needs to go beyond being just an expert...
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...Introduction: Drucker is one of the famous authors that suggested applicable theories for management and leadership practices (1994). This paper will examine and analyze some of his business theories and using variety of reliable academic sources to see whether his theories can be reliable for business usage. Analysis: According to Drucker (1994), the assumptions about external forces (environment etc) and internal forces (mission, core competencies) must fit reality. The core competencies of a business might not me sustainable forever (Li E. et al 2011), in fact, the businesses need to invest on innovation and building new business model to develop more core competencies in order to stay ahead in the market (Mark K. et al 2008). Additionally, the business environments are constantly or continuously changing in a way those businesses might not be able to adopt as quickly as they could due to their previous assumptions about the environment (Mika et al 2011 and Antonie K. et al 2008). According to Schilling M.A. (2013), the core competency can be defined as a combination of multiple resources and skills of a firm to differentiate it from the competitors. These competencies allow the firm to have better competitive position compare to the competitors such as Apple with their iOS and iTune store that can offer variety of applications to the users. However, if the firms keep relying on those core competencies without investing to innovating itself or strengthen their current...
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... DOPEBIKES DUE DATE: 7 September 2011 WORD COUNT: 650 words AUTHOR: MUHAMMAD GRANT NUR MORGAN STUDENT ID: 20800217 Mission Statement Our mission at DopeBikes is to enhance your extreme biking experience through the optimum fit, function, performance, and comfort of your bicycle. We've built our business on understanding what customer’s really want and value in an urban extreme bike and deliver precisely that, accompanied by a level of service unparalleled in the industry. All DopeBikes product employs the latest advances in materials technology and carefully considered highly functional design innovations. Our bikes are backed by the experience and commitment of craftspeople, engineers, and professionals whose passion for excellence is matched only by their passion for extreme biking. Situational Analysis & Strengths of Business Strengths of Business DopeBikes is focused on breeding organization and product innovation. We have a personally desire to manufacture and sell bikes that have our personally seal of approval, because our team are all experienced and trained in the hand craftsmanship of bike technology. This quality assurance backed up by industry recognition gives us the edge when it comes to customer loyalty and trust. Weaknesses of Business All our bikes are currently manufactured in New Zealand with a loyal customer following. With the aim to increase sales globally we need to firstly, develop a strategic plan to enter other markets...
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...identifying primary competitors and key lines of business? Amazons primary industry is electronic commerce. At its core Amazon is an electronic commerce retailer. But over the years the brand has developed into something grander. Originally the company started out as an online bookstore but now has diversified its inventory to include dvds, software, video games, electronics, furniture, apparel, food, toys, and jewelry. Amazon has also become a producer of their own brand of consumer electronics, most notably their line of Kindle e-book readers, Fire Tablets, Fire TV, Fire phone, and is now a leading provider of cloud computing services. Now Amazon is starting to introduce a new service called Amazon Fresh. Amazon Fresh will bring the grocery shopping experience into the comfort of your home. The customer will be able to order his or her groceries through Amazon and have them delivered the very same day. Fast and convenient, no longer will one have to make the tedious trek out to the supermarket in order to load up on food. The difficulty in identifying a primary competitor is the fact that no company comes close to doing everything that Amazon does. Sure there are plenty of companies that specialize in selling some of the items that are found on Amazon.com, but nowhere else will you be able to order a used copy of an algebra textbook your son needs for school, a diamond pendant for your wife’s upcoming birthday, and milk and eggs for your refrigerator. There is nothing like Amazon...
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...Reinventing Retail Banking Series Evolving Models of Retail Banking Distribution Capitalizing on changes in channel usage Produced by the Deloitte Center for Banking Solutions Reinventing Retail Banking Generation Y Reinventing Retail Banking Series Consumer Trust Reinventing Retail Banking Series Catalysts for Change The Implications of Gen Y Consumers for Banks Building Consumer Trust in Retail Payments Laying a Solid Foundation Produced by the Deloitte Center for Banking Solutions Produced by the Deloitte Center for Banking Solutions The traditional retail bank is at an inflection point. The needs and expectations of customers are changing as quickly as the competitive landscape. Customers are demanding seamless, multi-channel sales and service experiences and not consistently receiving them. Simultaneously, other financial institutions and non-traditional players are looking for opportunities to invade this space or to redefine it through disruptive innovation. The result is forcing banks to examine a more balanced, integrated approach to the customer experience and growth. In this series, entitled Reinventing Retail Banking, the Deloitte Center for Banking Solutions looks at how banks must move beyond simply meeting their profit and growth goals to delivering more completely on the customer experience. Specifically, these articles will focus on: understanding customers needs; identifying emerging and profitable customer segments and strategies...
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