...Winning Book Review Welch, J., & Welch, S. (2005). Winning. New York: Harper Business. In the book Winning by Jack Welch with Suzy Welch, Jack Welch talks about how winning is everything in business. If you are not in it to win it, then do not be in it at all. When companies are winning, there are far more opportunities than when a company is losing. A winning company can give back to society by providing more jobs and resources. A losing company is worried about finances; and because there isn’t a lot of profit going around, people can become scared of things like their jobs and families. The book breaks down on how to win into four sections. The first section is the philosophy on management such as mission and values and how everyone should have a voice in any kind of business. The next section is about the inside of a company. It talks about the mechanics of a company which are “people, processes, and culture” (pg.8). The next section talks about the outside of a company such as competitors, growth, and strategic advantages. The next section is the professional life. This section talks about how to find the right job, working with a bad boss, and getting promoted. The final section is about how Jack Welch “answer[s] nine questions that did not fall into any of the above categories” (pg. 8) such as the “China threat” diversity. The purpose of this book is to show that winning isn’t impossible. From these four sections of the book, Jack Welch shows us that in every aspect...
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...cooperatives, credit unions and housing associations. These businesses are run like any other commercial business however all profits earned by the business go back to the business to help achieve its social or environmental objectives. The aims of social enterprise are to achieve its social or environmental goals that have been set out. The aims of a plc are different in the sense that they have set out targets of which they need to achieve to make `money (profit) for the company. 3. What happens to the profits made by the Fifteen Foundation? All profits generated by the restaurant go straight back into the scheme to help train other disadvantaged young people 4. Explain the difference between an aim and an objective. A business aim is the goal set out for the business to achieve, the business objective is when the business will achieve the targets set out and how long it will take them to so. 5. Why might winning the “green crown” be likely to increase Dell’s sales? Winning the green crown would be likely to increase Dell’s sales as it would mean that they have the most environmentally friendly products and people would want to buy the products which least effect the environment therefore increasing Dells’s sales 3. What impact would going green be likely to have on Dell’s costs? Going green could affect Dell’s costs in different ways. It could raise their prices as the environmentally friendly products and materials could cost more to buy and manufacture...
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...strategy a winner? Please provide some examples. Ans. 1. Three questions can be used to test the merits of one strategy versus another and distinguish a winning strategy from a losing or mediocre strategy: a. How well does the strategy fit the company’s situation? i. To qualify as a winner, a strategy has to be well matched to industry and competitive conditions, a company’s best market opportunities, and other aspects of the enterprise’s external environment. Unless a strategy exhibits a tight ft with both the external and internal aspects of a company’s overall situation, it is likely to produce less than the best possible business results. b. Is the strategy helping the company achieve a sustainable competitive advantage? i. The bigger and more durable the competitive edge that a strategy helps build, the more powerful and appealing it is. c. Is the strategy resulting in better company performance? i. Two kinds of performance improvements tell the most about the caliber of a company’s strategy: (1) gains in profitability and financial strength and (2) gains in the company’s competitive strength and market standing. 2. Strategies that come up short on one or more of the above questions are plainly less appealing than strategies passing all three test questions with flying colors. CORE CONCEPT: A winning strategy must fit the enterprise’s external and internal situation, build sustainable competitive advantage, and improve company performance. 3. Other...
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...on procurement, shopping, business collaboration, and customer services as well as on delivery of various services is so dramatic that almost every organization is affected. In this paper, I will show how electronic reverse auctions (e-RAs) is very significant in the federal procurement process by saving money, time and maximizes supplier competition. Reverse auctions gained popularity with the emergence of Internet-based online auction tools. Today, reverse auctions are used by federal, state and private agencies to purchase raw materials, supplies and services. The Reverse Auction Process In the traditional auctions, also referred to as forward auctions, a seller offers a product that is demanded by several buyers who compete and bid up the price. The highest bidder wins and buys the product. In a reverse auction, it is the buyer who is in control of the process. The buyer is interested in an item offered by a number of sellers who compete and lower their price in order to get the deal. Unlike traditional auctions that occur at physical locations, reverse auctions are accessed online, through web browsers, via private software companies known as “market makers.” The market makers facilitate the auction process and provide support, training and all necessary software to suppliers participating in the bidding process. The reverse auctions process starts with the buyer preparing and posting an electronic request for quote (RFQ) to a web site. Through the use of RFQs, the...
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...commercials and ads. Athletes that have an abundance of popularity can help companies be known worldwide with a commercial of the athlete recommending the product. Michael Jordan- one of the all time best...
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...to keep the rate stable in the last three years, the absolute rate is still relatively high. The impact of this is that there are not enough small and medium scale businesses to employ the teeming population of unemployed people. Demographically, the population of Nigeria is growing at an alarming rate and this is estimated to get to 170million by 2016. This growth is as a result of illiteracy and the influence of culture in this part of the world. The banking industry is highly regulated and as such, banks are vulnerable to the changing policies and guidelines from the regulator, the Central Bank of Nigeria. Some of these laws include guidelines for capital adequacy, obligor limits, prudential guidelines for banking operations and other operational modalities. Sometimes, the regulators can introduce changes due to trends or events happening in the global landscape. As a result, banks invest substantial time and resources towards understanding these trends and forecasting to reduce the impact of sudden shocks. The barrier to entry in the banking sector is high. In Nigeria, there is a huge capital requirement of between 300 to 500 million dollars to obtain a license and some basic infrastructure. Investment in Information Technology is also significant because it is a platform for distribution channels and product differentiation to for banks to remain in business. In addition, regulators also specify high levels of human capital skills and experience, which is not easy to come...
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...Chapter one, What is Strategy? • What is our present situa4on? – Business environment and industry condi4ons – Firm’s financial and compe44ve capabili4es • Where do we want to go from here? – Crea4ng a vision for the firm’s future direc4on • How are we going to get there? – CraBing an ac#on plan that will get us there The Strategy-‐Making, Strategy-‐Execu4ng Process 1 WHAT IS STRATEGY ABOUT? • Strategy is all about – How to outcompete rivals. – How to respond to economic and market condi4ons and growth opportuni4es. – How to manage func4onal pieces of the business. – How to improve the firm’s financial and market performance. WHY DO STRATEGY ? • A firm does strategy: – To improve its financial performance. – To strengthen its compe44ve posi4on. – To gain a sustainable compe44ve. advantage over its market rivals. • A crea4ve, dis4nc4ve strategy: – Can yield above-‐average...
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...solution in 1999. The BlackBerry product line includes the BlackBerry® PlayBook™ tablet, the award-winning BlackBerry smartphone, software for businesses and accessories. BlackBerry products and services are used by millions of customers around the world to stay connected to the people and content that matter most throughout their day. Fast Facts * Founded in 1984 * Headquarters in Waterloo, * Ontario, Canada * Offices in North America, * Asia-Pacific and Europe * Launched the BlackBerry * smartphone in 1999 * Led by President and CEO Thorsten Heins Corporate Responsibility Global Growth. RIM is a company driven by ideas. We believe that innovation and collaboration will foster sustainable growth for our business. Research In Motion Limited and its subsidiaries and affiliates ("RIM") are committed to offering the best tools for communication and social collaboration and working towards minimizing our environmental impact. RIM strives to act responsibly and expects the same of our partners and suppliers. Products Leading innovation Research In Motion (RIM) is the company behind the innovative and award-winning BlackBerry® product line. The BlackBerry family includes best-in-class smartphones and software offerings, as well as the BlackBerry PlayBook, the world’s first professional-grade tablet. Setting the bar for mobile access to email, applications and more, the BlackBerry family of products also allows virtual real-time communication...
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...Based on methods in How Much For Just the Spider? http://www.HowMuchForSpider.com/TOC.htm Marketing Plan Example http://www.WebSiteMarketingPlan.com Marketing Plan Example Based on methods in the marketing plan and Web promotion guide How Much For Just the Spider? Strategic Website Marketing by Bobette Kyle, ISBN 1-59113-113-8 http://www.HowMuchForSpider.com/TOC.htm Copyright © 2002 - 2005 Bobette Kyle, WebSiteMarketingPlan.com 8050 Watson Road, Suite 315, St. Louis, MO 63119 http://www.websitemarketingplan.com All rights reserved. You may share this document with others as long as you keep the entire document intact. 1 Copyright © 2002 - 2005 Bobette Kyle All rights reserved. Based on methods in How Much For Just the Spider? http://www.HowMuchForSpider.com/TOC.htm Marketing Plan Example http://www.WebSiteMarketingPlan.com This not the kind of sample marketing plan you had in mind? Then take a look at this marketing plan software, with integrated samples to help write your plan: http://www.WebsiteMarketingPlan.com/mplan/software 1 Copyright © 2002 - 2005 Bobette Kyle All rights reserved. Based on methods in How Much For Just the Spider? http://www.HowMuchForSpider.com/TOC.htm Marketing Plan Example http://www.WebSiteMarketingPlan.com A Retail Business Example: Arlington Accessories and More To demonstrate the marketing plan development process detailed in the book, throughout this booklet I develop a sample Web site marketing plan for a fictional...
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...upon. One strength Domino’s has is that they produce and deliver their products fast and efficiently. Using the “Heat wave” delivery bag aids delivery drivers in ensuring that the products arrive hot and fresh every time. Another strength Domino’s has developed over the years is their online interactive tracker. Once a customer places their order, Domino’s is eliminating the guess work in when your pizza will be delivered. Customers are now able to watch every step of the process online from the person making the product to when the person is set out for delivery. It is all real time tracking with the real person’s name. This helps impatient people from being disengaged after placing their order. The last major strength Domino’s presents is using their customer feedback effectively. Domino’s not only encourages people to give feedback, but they actually apply what they hear and aren’t afraid to change their products or process to better serve the customers. This is a great strength and has helped them improve their business over the years. One weakness Domino’s faces is their advertising and marketing strategies. Staying consistent with advertising is important when trying to align a brand at the top of the market. Creating new marketing vehicles and products, but not following through with them creates marketing diversion that takes away from your brand. If customers can not follow what the businesses strategies are, the brand will suffer from the poor marketing. Domino’s...
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...cities. Since the competition is often cut-throat, retail shop owners have to come up with creative retail marketing strategies to put their businesses in front of new potential clients, while coming up with strategies to turn current customers into loyal repeat buyers. While developing a strategy everything from store layout and pricing to customer service and advertising must be examined to come up with effective strategies. But the main focus point of a retail marketing strategy should be the needs and wants of the consumer. As the work force becomes more diverse and the retail environment continues to change, consumer's needs are rapidly changing. That’s why it’s vital for today's retail Marketing Managers to understand the connections between the lifestyle and expenditure characteristics of customers, their propensity to purchase one product or brand over another, and leverage this understanding for competitive advantage. Another important feature is Sustainable Competitive Advantage - an advantage over the competitors. There is a model, which includes five essential areas , that can steer a retailer towards success: Winning with Price, Winning with Dominant Assortments (The dominance of a particular category), Winning with Fashion (Following fashion and trends), Winning with Solution (Service-oriented problem solving), Winning with Fast Service. According to this model, the retailer should strive to be the best in one of the categories for specific groups of customers...
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...for building a business. There are several goals when striving to implement social media marketing. Establishing brand recognition is a common goal. Since the majority of the population is already visiting social media sites like Facebook, Twitter and YouTube, getting your brand name all over those networks can help let people know that you’re around. For companies or organizations that are small or are just starting out this is an important implementation in marketing strategy. How else can you reach thousands of customers and prospects all over the world with practically zero advertising costs? 54% of small and midsize businesses (SMBs) were using social media to promote their businesses as of September 2010, double the number using these sites in December 2009. And it’s working for them: 60% credit social media with positively impacting their businesses, 46% said their company’s brand awareness has increased and 36% have attracted new business as a result of their social media efforts. LinkedIn...
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...Mini Case – Groupon Online coupon businesses have begun to boom recently in not only big cities in the U.S. but also in smaller areas around the country. With the growth of this business, though, comes competition, which is a major problem facing big online businesses such as Groupon and Living Social. Although these are the two largest rivals in the business right now, there are hundreds of other companies that have tried to take a piece of the pie by offering their own online coupons. Companies such as Groupon and Living Social have to find a way to get customers to buy from them, but also to get them to return and not just go to the next best competitor; return customers, which is another major problem those compaies face. Tim O'Shaughnessy, the founder of Living Social has been trying to stay ahead of the curve by making sure he hires in the right people that will not only work with the company’s core values but also live their personal lives through the company’s core values too. By doing this, companies such as Living Social and Groupon can differentiate themselves from the other competitors. For a company to have a winning strategy they must pass three different types of tests; the fit test, the competitive advantage test and the performance test. Living Social has grown to around 200 cities across the U.S. which allows their competitors to rival them in many different areas. The company must take a look at the three winning strategy criteria to make sure that...
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...the way Big Supermarkets have changed the way we do our shopping and how they got to be so big. I will also look deeper into the zero sum game as there is a very strong argument for this against the large supermarket and why people lower down the chain are not benefiting from these large stores. Shopping today has become a large part of our lives, we have gone from buying what’s known as “essentials” i.e., food and clothing to becoming something we do for leisure, or forms a part of our lifestyle where we are purchasing more than just “essentials”. We are now living in what’s commonly called a consumer society. When you look around on your local high street you will more than likely see more big chain shops than small independent businesses like butchers, fruit and veg shops and fishmongers. The chains are growing rapidly in High and are branching out to Retail Parks to give today’s consumers more choice. Supermarket Power and Beyond Today though big supermarket chains have engulfed our high streets, towns and retail sites where they have grown as a rapid speed. Going from selling your essential groceries and household items to now selling electrical, home ware and clothing, this has led to an increase in us shopping all under the one roof for the majority of the things we need on a weekly/monthly basis. So at what point do we use the smaller shops in our towns or high street, and what has happened to those shop and why are we not buying in our local shops. In today...
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...learning and try to attain seemingly impossible goals. These firms foster the desire to succeed among their employees and maintain it by spreading the vision of global leadership. This is how Canon sought to "beat Xerox"and Komatsu set out to "encircle Caterpillar." This strategic intent usually incorporates stretch targets, which force companies to compete in innovative ways. In this McKinsey Award-winning article, Hamel and Prahalad describe four techniques that Japanese companies use: building layers ofadvantage, searching for "loose bricks," changing the terms of engagement, and competing through collaboration. Strategic Intent by Gary Hamel and C.K. Prahalad oday managers in many industries Most leading global companies started with ambitions that were far bigger than their resources and capabilities. But they created an obsession with winning at ail levels ofthe organization and sustained that obsession for decades. working hard to match the compete advantages of their new global rivals. They are moving manufacturing offshore in search of lower labor costs, rationalizing product lines to capture global scale economies, instituting quality circles and just-in-time production, and adopting Japanese human resource practices. When competitiveness still seems out of reach, they form strategic alliances-often with the very...
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