...92 Harvard Business Review May 2010 HBR.ORG Clark G. Gilbert (cgilbert@ deseretdigital.com) is the president and CEO of Deseret Digital Media and was formerly a professor at Harvard Business School. Matthew J. Eyring (meyring@innosight.com) is the president of Innosight, a strategic innovation consulting and investment company outside Boston. Beating the Odds When You Launch a New Venture Smart entrepreneurs aren’t cowboys—they’re methodical managers of risk. by Clark G. Gilbert and Matthew J. Eyring ILLUSTRATION: BRUCIE ROSCH F or nearly 20 years the case study used to introduce Harvard Business School’s Entrepreneurial Management course has been Howard Stevenson’s “R&R.” It looks at Bob Reiss, an entrepreneur who launches a venture in the board-game industry. Students are encouraged to explore all the production, development, distribution, and marketing costs associated with the new venture. A cursory reading of the case suggests that it’s a lesson in the rewards that come to an entrepreneur who is willing to take on an enormous amount of risk. Reiss capitalizes on what he correctly foresees is an ephemeral opportunity to ride the coattails of the Trivial Pursuit craze before me-too products flood the market. But a more careful analysis reveals something else entirely. At every turn, Reiss seeks to reduce his risks before making any significant financial investments or operational commitments. For example, he presells a sizable number of units to ensure...
Words: 4235 - Pages: 17
...Harvard Business Review May 2010 Beating the Odds When You Launch a New Venture by Clark G. Gilbert and Matthew J. Eyring Smart entrepreneurs aren’t cowboys—they’re methodical managers of risk. For nearly 20 years the case study used to introduce Harvard Business School’s Entrepreneurial Management course has been Howard Stevenson’s “R&R.” It looks at Bob Reiss, an entrepreneur who launches a venture in the board-game industry. Students are encouraged to explore all the production, development, distribution, and marketing costs associated with the new venture. A cursory reading of the case suggests that it’s a lesson in the rewards that come to an entrepreneur who is willing to take on an enormous amount of risk. Reiss capitalizes on what he correctly foresees is an ephemeral opportunity to ride the coattails of the Trivial Pursuit craze before me-too products flood the market. But a more careful analysis reveals something else entirely. At every turn, Reiss seeks to reduce his risks before making any significant financial investments or operational commitments. For example, he presells a sizable number of units to ensure cash flow. As students come to understand, Reiss actually limits his at-risk capital to the cost of the game design and the prototype. Rather than the high-risk, high-reward seeker he initially seems, Reiss proves to be a manager who constantly identifies risks and finds creative ways to remove them. Tackling the Right Risks First (Located at the end of...
Words: 3885 - Pages: 16
...Charter schools in New York, how effective are they to you! DeVry University Professor Hartman The spread of charter schools in New York has been on the rise in the past couple of years. Charter schools are schools are financed by the public, but run independently through the educational system. There has been a lot of debate questioning the effectiveness of charter schools verses traditional public schools; who serves as the best interest for the students. Many prefer sending their children to charter schools instead of traditional public schools because of academic development. I say a child can receive the same education from both schools; it depends on how they receive and understand the information being taught. What is your intake on this situation; would charter schools be more beneficial to our children than traditional public schools? Keeping an open mind and evaluating all aspects between the schools, will be helpful when making an informative decision to the beginning of your child’s future. Charter schools have found to be very effective in New York and in other surrounding states. The charter program provides monitory, but strict academic standards for children to meet; also holding the teacher’s administration accountable for these standards as well. Charter schools are more focused on the academic levels and graduation acceleration for children instead of their social status. Since more students have been enrolled in charter schools, there has been...
Words: 1349 - Pages: 6
...HassabElnaby ACCT 6190-001 Sep. 6, 2015 FASB Proposes to Clarify Revenue Recognition Standard By Michael Cohn on August 31, 2015 After the International Accounting Standards Board (IASB) published a draft proposing changes in Revenue Recognition Standard on July 30, 2015, the Financial Accounting Standards Board (FASB) has also issued a similar proposed accounting standards update to clarify how to determine whether an entity involved in contract is a principal or an agent under the new revenue recognition standard. We found a news article written by Michael Cohn that discusses this recent FASB’s agenda in details. The proposed update will not change the principle part of new revenue recognition standard, but will clarify the implementation guidance on principal versus agent consideration. In the new revenue recognition standard, it points out when another party is involved in providing goods or service to customer, the entity is required to determine the nature of its promise. The determination will base upon whether the entity controls the good or the service before transferring to the customer. Specifically, if control of the goods or service belongs to the entity, the entity is a principal. On the contrary, the entity is an agent. There are some implementation issues, however, during this determination process. Those issues include how to identify the nature of the good or...
Words: 704 - Pages: 3
...The New Deal was a series of domestic programs that caused the federal government and president to join forces and do whatever was necessary to save the country from disaster. The New Deal played a significant role in the shift of the nature of the presidency as the president was allowed special powers by Congress to deal the Great Depression, however it was Roosevelt himself who brought about a fundamental shift, which lasted past the crisis situation. Specifically, the fundamental shift was brought about by the change in president, his personality and the way the crisis situation was dealt with. Fundamental shift is defined as the change in the presidency, which had a permanent and substantial effect that caused the change in the political “norm”, which resulted in a new style and role for the presidents to follow. Herbert Hoover altered the nature of the Republican laissez-faire policy that dwelt less on inaction and more on allowing people to take responsibility for themselves. While campaigning, he developed the theory of ‘rugged individualism’, where people who could look after themselves would make their own way in the world and prosper, realizing the American Dream. He believed that the government should not interfere to help those with jobs and homes, or even the poor and the exploited workforce, as they would be weakened. In fact, following the 1929 Wall Street Crash, it was favoured by the Republicans to leave the economy to sort itself out, which of course led to...
Words: 1399 - Pages: 6
...Sri Lanka Telecom, the national telecommunications provider, proudly announces the appointment of Mr. Lalith De Silva as the new Group Chief Executive Officer with effect from 7th February 2013. De Silva’s position as the Group CEO will see him overlooking the SLT Group Companies excluding Mobitel (Pvt) Ltd. A veteran in IT & Telecommunications, Mr. De Silva has held the position of CEO of Mobitel (Pvt) Limited since 2011 and has also functioned as Director/CEO of Mobitel subsequent to Mobitel’s acquisition by SLT in 2002. He also served as an Advisor to the Chairman of SLT from 2002 to 2004 and thus possesses a deep knowledge of the group’s operations. Mr. De Silva is ideally positioned to chart the future course of one of Sri Lanka’s most valued brands going ahead. Commenting on his appointment to one of the most coveted and respected positions in Sri Lanka’s corporate sector, Mr. De Silva said: “I am delighted to serve my country as the first local CEO, post privatization in 1997, of our nation’s most trusted flagship telecommunication provider. I am committed to adding immense value in my new role to better serve my country and the ICT industry. SLT is perhaps one of the most dynamic and innovative companies in Sri Lanka and I am enthused by the challenge of taking it to the next level. The company’s 150-year-old heritage reflects its deep roots amongst the people of this nation and we hope to thank the people and our partners for their trust and loyalty by rolling out...
Words: 436 - Pages: 2
...“What recommendations do you propose for the strategic development of the University of East Anglia in existing and new markets from now to 2018?” 12th Nov 2009 INTRODUCTION With the rapid socio-economic development and national policies tilt on education, strategic management at the university became increasingly important. Some schools use strategic management in facing the challenges and catch the opportunities brought by environmental changes to earn improvements and thus to achieve a historic leap forward. Competition exists in every field not only in similar businesses, but also in other industries that offering competing products or services (Stacey 2007). The only way to surge ahead of competitors is to have new approaches in the competition. Strategic management principles of the institution must be innovative and creative. It is important because all the organizations are trying to employ traditional methods and this can mean a closer competition level. This essay will discuss the main strategies in existing and new markets of the University of East Anglia under the current situation of UEA in the whole UK educational industry. New market space New market space is the creation or reinvention of existing products in such a way that it must appeal to the existing customers as well as a whole new group of customers. The products offered must be unique in every aspect and it should make the organization...
Words: 2303 - Pages: 10
...The nurses should take a systematic approach when it comes to investigating a new procedure. Before you decide to implement a procedure you must ask yourself “is this task or procedure in my scope of practice”? Nurses are responsible and accountable for the quality nursing care. If a procedure has fallen beyond the nurse’s scope of practice, we would meet the MD and find out the reason why they would want nurses to implement the procedure. I would look into my board of nursing practice act and the policy and procedure of my facility. There is a 6 step decision- making model for determining the nursing scope of practice in the Texas Board of Nursing. “This decision-making flowchart was developed by the Texas Board of Nursing staff to assist nurses in making good professional judgments about nursing tasks or procedures”,(Texas Nursing Practice Act). I think this is a perfect model to use when investigating a procedure or a task. If you find “YES” to the answers for all 6 questions, you can continue the task or procedure but; any of those answers are “NO” you have to stop and go through the chain of command to make a good decision. “Change is inherent in nursing practice. However the nurse must take lead in the development of any new roles or procedures” (Trim, 2009). So, I would take leadership to bring this issue in front of the risk management and higher authorities. I will make sure all the nurses get enough education and arrange practice sections and competency skill check-off...
Words: 302 - Pages: 2
...children. They show that the nurses interacting with the patients, they show about HIPPA laws, when you see them talking about patient confidentiality they do it in privacy. The news shows the media how hard working the nurses are in emergency situations such as hurricane Katrina, hurricane Sandy. In an article that I read people were interviewed about how they viewed RN’s. And 77% of the people interviewed stated that nurses had a positive impact in their lives, gave them a great respect for the profession, that nurses work very hard and long hours. This article also suggested that the elderly were speaking more on topics like patient safety, and lead to more respect for nurses. This article also suggested that even on the negative side of nursing such as shortage, which the public contributes to salaries, and lacks of benefits nurses were still respected. Nurses’ being on strike is a negative look, but the public still portrayed nurses as a respected profession. 81% Hispanics, 63% of whites, and 61% of blacks all have a great respect for nurses. Both Rn’s and the public were interviewed and asked if they would recommend nursing as a career. And it shows that 44% of RN’s would recommend nursing as a career. Verse the public 63% would recommend nursing as a career. The public feels that nursing is a good career to enter into by watching TV shows as Gray Anatomy, watching the news and they see act of kindness by the media, internet searches on jobs that are arising in the near...
Words: 423 - Pages: 2
...The nurses should take a systematic approach when it comes to investigating a new procedure. Before you decide to implement a procedure you must ask yourself “is this task or procedure in my scope of practice”? Nurses are responsible and accountable for the quality nursing care. If a procedure has fallen beyond the nurse’s scope of practice, we would meet the MD and find out the reason why they would want nurses to implement the procedure. I would look into my board of nursing practice act and the policy and procedure of my facility. There is a 6 step decision- making model for determining the nursing scope of practice in the Texas Board of Nursing. “This decision-making flowchart was developed by the Texas Board of Nursing staff to assist nurses in making good professional judgments about nursing tasks or procedures”,(Texas Nursing Practice Act). I think this is a perfect model to use when investigating a procedure or a task. If you find “YES” to the answers for all 6 questions, you can continue the task or procedure but; any of those answers are “NO” you have to stop and go through the chain of command to make a good decision. “Change is inherent in nursing practice. However the nurse must take lead in the development of any new roles or procedures” (Trim, 2009). So, I would take leadership to bring this issue in front of the risk management and higher authorities. I will make sure all the nurses get enough education and arrange practice sections and competency skill check-off...
Words: 266 - Pages: 2
... TABLE OF CONTENTS 1. Introduction ……………………………………………………………………………. 1 2. THE FAMOUS “INTERNET” ………………………………………………………….. 1 3. INTERNET MODEL FOR MARKETING SUCCESS ………………………………… 1 4. ADVANTAGES OF THE INTERNET ………………………………………………….. 2 4.1. Web Search Queries Predict Stock Market Trading Volumes …………….. 3 5. SUCCESSFUL WEBSITES …………………………………………………………….. 4 6. DISCUSSION …………………………………………………………………………… 5 7. CONCLUSION …………………………………………………………………………… 6 8. REFERENCES …………………………………………………………………………… 7 ABSTRACT Internet and Commerce relation is an interesting topic especially for researchers in the marketing field. It is a new way of marketing a product/service globally to the targeted market around the world. This paper introduces a new approach concerning Internet marketing in electronic commerce; showing how advertisers need this innovation to be successful. This also relieves marketing managers for more value added tasks such as marketing plans for better development of the company. Keywords - Internet marketing, innovation, E-commerce 1-INTRODUCTION Internet marketing (IM) is also known as digital marketing, web marketing, online marketing, or e-marketing. As the name states, it is the advertising of products or services over the Internet. However, it also implies marketing through the wireless media and through e-mail. Electronic customer relationship management (ECRM) systems...
Words: 1760 - Pages: 8
...2010 Edition Nursing: Scope and Standards of Practice Second Edition [pic] American Nurses Association Silver Spring, Maryland 2010 Library of Congress Cataloging-in-Publication data The American Nurses Association (ANA) is a national professional association. This ANA publication ( Nursing: Scope and Standards of Practice) reflects the thinking of the nursing profession on various issues and should be reviewed in conjunction with state board of nursing policies and practices. State law, rules, and regulations govern the practice of nursing, while Nursing: Scope and Standards of Practice guides nurses in the application of their professional skills and responsibilities. Published by Nursesbooks.org The Publishing Program of ANA http://www.Nursesbooks.org/ American Nurses Association 8515 Georgia Avenue, Suite 400 Silver Spring, MD 20910-3492 1-800-274-4ANA http://www.NursingWorld.org Design: Typesetting: Printing: Editorial services: © 2010 American Nurses Association. All rights reserved. No part of this book may be reproduced or utilized in any form or any means, electronic or mechanical, including photocopying and recording, or by any information storage and retrieval system, without permission in writing from the publisher. Contents Contributors Overview of Content Foundational Documents of Professional Nursing Audience for This Publication Scope of Nursing Practice Definition of Nursing ...
Words: 15841 - Pages: 64
...liberties and new ideas that produced changes in the society. Source 1 concentrates more on the effect the renaissance had whereas Source 2 concentrate more on the reformation and its effects. These however are not the only factors that contributed the ‘new age’ which was being formed, for example other key turning points would be international relations in regards to commerce as well as overseas exploration. In Source 1 it states that there was a ‘regeneration of cultural values’ this helps to support that the renaissance did have a massive effect in Europe as it was down to those values mentioned in Source 1. It highlights that there was a mass movement in cultural ideas throughout Europe at the time as many people’s view on society and cultural was changing. The infusion of new ideas had the biggest effect on the people in the middle class as out of everyone they cared the most about what others thought of them and whether or not they were doing the ‘right’ thing for that time period. Examples of the new ideas presented where shown through architecture, art and fashion. The change is backed up by Source 1 further as Morris expresses the ideas of the rebirth of ‘standards that had lain dormant since the fall of Rome’ this implies that the so called ‘new’ ideologies that are being formed aren’t so new, that in fact they are the thoughts expressed during the Roman period. Before the ‘new age’ that was forming England had been in the ‘dark age’ a period of time that had no new advancements...
Words: 983 - Pages: 4
...NETWORK ANALYSIS AND DESIGN (BTN-208) INDIVIDUAL ASSIGNMENT-1 NAME | YASIR ADOJI | NRIC | 151914240 | COURSE | NETWORK ANALYSIS AND DESIGN | LECTURER | NASARUDDEN | DATE | 26TH APRIL, 2016 | 1.0 INTRODUCTION The Genome4U is a scientific research it will be used by the end user to study their specific genetic heritage with assistance of their doctor and genetic counselors. The topology of this network design will use the routing protocol of Open Shortest Path First (OSPF). The data will be used by different personality they might be computers researchers’ mathematians physicists and researches and also different laboratories may use different routing protocols example like Enhance Interior Gateway Routing Protocol (EIGRP), Routing Information Protocol (RIP) so as to connect the campus and provide full access to the entire network. In this network design I designed the network in hierarchical and redundant way which will allow users to access the network in a multiple way even if some interfaces are down or got problem. User Communities User Community Name | Size of Community (Number of Users) | Location(s) of Community | Application(s) Used by Community | Doctors | 100 | Kajang | All | Researchers | 200 | Kuala lumpur | All | Volunteers | 5000 | Cybajaya | All | Mathematians | 1000 | Ayar Hitam | All | Physicist | 500 | Batu Phat | All | Engineers | 9000 | Selengo | All | End users | 7000 | Puchong | All | Scientists...
Words: 576 - Pages: 3
...CASE STUDY INTRODUCTION Across the globe the commercial world is become too competitive that poses lots of opportunities and threats simultaneously to the businesses. Oil exploration and Production (E&P) companies are not exceptional to this. Oil reserves are depleting and it is expected to last for another 40 years. Oil is one of the major energy resources for most of the industries and particularly for all transportations. Cutting oil consumption further will prolong the life of global oil reserves. Natural gas reserves are estimated to last for over 60 years at the current global rate of consumption. However, this forecast may be understated as new gas reserves are identified and come into production. Almost all off-shore oil fields also contain reserves of natural gas. Therefore, drilling and production of oil also provides the opportunity to produce and sell natural gas from these reserves. Any company wishing to operate in the E&P sector needs to prove its credentials to the respective government in terms of: its technical ability to bring the potential oil and gas fields into production; its awareness and track record in respect of environmental issues; the company’s financial capacity in respect of the investment required to bring the oil and gas field into production. This report is about the issues of YJ E&P Company in relation to licences, resource availability, environmental issues, outsourcing, etc. ISSUES OF YJ YJ, an oil/gas exploration and production...
Words: 1660 - Pages: 7
