...Assignment: Referenced essay Lecturer(s): Ronald Tierney & Adam Walford Question: Do businesses need to invest in creative thinking if they want to be successful? Student name: Phan Si Bao Cuong Student ID: L9920929 Date: 4/7/2013 In the business world today, creative thinking is one of the most indispensable elements that involve in whether companies can attain success. There is no doubt that thinking differently has brought many advantages to the success of businesses. Creativity can be defined as an ability people use to produce fresh ideas (Mattiske 2010). Bills and Genasi (2003) go further and suggest that people should force themselves to throw the traditional way of thinking away to form new ideas or even unique method to alter their future. The quality of products can be improved if inventiveness is boosted in office. Steve Jobs states that applying attractive ideas and new technologies to the process of doing business can help companies develop and flourish. This essay will support the opinion that businesses should have some funds in motivating innovation and creativity by analyzing these benefits which have been mentioned above based on the success of two big corporations, Sony and Apple. One key point is that the value of products can be enhanced if creative thinking is promoted in the workplace. If business owners encouraged their staff to think differently, this could result in the competition between employees so they try to produce new ideas that can...
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...well. In Philip Harvey and James Snyder’s article as well as Bill Gates article all authors clearly outline that in order for non-profit companies to be successful; they have to begin to re-align their organization’s goals, objectives with their financial statements. The question becomes how does a non- profit realign their goals, objectives and financial statements in such a way that they are still able to do their good work, but remain financially viable? Bill Gate’s answer is creative capitalism. Another answer, one that mirrors the idea of creative capitalism is the idea that organizations now more than ever must ensure that they are closely integrating their cause agendas into their business strategies instead of just writing a check. In each of these answers, organizations and corporations can find success. “Charities Need a Bottom Line Too” (Harvey & Snyder, 1987) and “Making Capitalism More Creative” (Gates, 2008) both help to clearly outline what charities, corporations and nonprofits could do differently to be financially more successful and stable. Each of these articles holds several things in common. One of which includes the same observations that Jack Welch endorses. These observations include that business owners must first focus on winning, meaning that they must reach profitability before they can start thinking about their companies’ social responsibilities. We agree that an organization must have profit, and an infrastructure that will survive in the long run...
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...Unit 2 Assignment 1 Task A 1. The aim is what an organisation is trying to achieve. The objective is the steps that are taken to achieve an aim. Examples of aims: * Increasing market share * Growth of profit * Survival 2. SMART objectives: * Specific: Clear objectives of what they want to achieve; * Measurable: The organisation has to measure whether they could achieve or not; * Achievable: the organisation sets up objectives so he could achieve it; * Relevant: To assess if what they are going to do it’s going to be as they forecasted; * Timed: it’s the deadline when they set to achieve it. 3. The purpose for setting aims and objectives is to have a clear view of what the organisation is going to do, so that every member of the organisation is going to easily follow it and all of them to work towards the same target. Another purpose would be to give the organisation focus, achieve efficiency, helps plan strategies, gives a basis for assessing performance and allows managers to monitor performance and make changes if necessary. 4. The first person that is interested in an organisation’s aims and objectives is the owner, and after the stakeholders: they could be investors and shareholders. Because they also have invested money in the business. Investors They are the people that put money in an organisation/business and expect that the profit will be high and the risk will be low. They are also concerned about the...
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...As it is known, every beginning is difficult. So it is in business world too. By starting up a new business you are called to face a few challenges that affect your business. Our business, Eastern Foods, is going to analyse some of them. We are going to discuss about Human Resources (HRM), Accounting, Marketing and Operations Management. Human Resources Management: Human Resources is an important function, no matter how small the business is, especially for the employees. It is the area which ensures that the employees are working the right hours, they are getting the benefits they deserve so they can expel the stress that they may get and be happier and more productive. It is also responsible for payroll, benefits, hiring, firing, communication and keeping up to date with state and federal tax laws. Moreover, it helps managers to recruit, select, train and develop members for an organization. Accounting: Accounting is used to collect, classify, and manipulate financial data for the organization and keeps the financial stability. It is responsible for determining an organization’s overall wealth, profitability, and liquidity. Without accounting, organizations would have no basis or foundation upon which daily and long-term decisions could be made. The budgets for marketing activities, profit reinvestment, research and development, and company growth are based on that area. Marketing: Marketing is also an important piece of the business puzzle. It has to do with matters...
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...minimizing risk (investopia.com). Simply put, diversification can reduce risk. Using diversification as a strategy will help to develop a business in entering new production lines, or markets, and reduce the risk by spreading investments. However, can a business reduce its risk with the appropriate diversification techniques, and when is the right time to diversify, or not. We will begin to explore the ideology of diversification. Through diversification some risks can be eliminated, however no matter how much you implement diversification, businesses never reduce their risk down to zero. (Financial Management, Principles and Applications, Chapter. 8, pg. 221). Looking closer at the concept of diversification, the idea for a business, or investors is to create a portfolio that will include multiple investments in order to reduce risk. For example, Everything But Water sells swimwear, during the summer months business is booming. They invest 20% into swimwear, receiving 0% during the winter months. However they have implemented a leisure apparel line that now generates 20% of return year round so that there is no money loss. By combining products half on swimwear, half on the apparel line, you have completely eliminated risk. This is a prime example of how diversification is...
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...organization. The summary of three videos that I chooses, as women continue their upward trajectory in the business world, they have yet to be fully appreciated for the unique qualities and abilities they bring to the workplace. It’s impossible to respect, value and admire great leadership if you can’t identify what makes a leader great. As a leader of some organization woman was surrounded by strong-willed, hardworking and purpose-driven women. It is through their leadership that the traditions, values and legacy of our family have been upheld. They have taught that a woman’s instincts and emotional intelligence can be off the chart. For a man it so difficult to understand about what women thinking, because what woman thinking and what man thinking is have a little different. Also in woman act and innovation, unless he has been closely influenced by the women in his life. I’ve learned that women may process things differently and in their own terms. Fortunately for me, I’ve been influenced by great women who made me appreciate their approach towards leadership. I’ve grown to understand their decision-making processes, the dynamics and subtleties of their personality and style, and other special character qualities that women possess. What I know about woman are the best leader that have circular vision that enables them to be well-rounded people. For example, they have their finger on the pulse of the culture and can talk to you about...
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...1.0 Introduction Nowadays, due increase in globalization, many organizations require more interaction among people from diverse cultures, beliefs, and backgrounds than before. This scenario is known as diversity in workplace. Organization needs diversity to become more creative and open to change. Maximizing and capitalizing on workplace diversity has become an important issue for management today. Besides that, diversity has the potential of yielding greater productivity and competitive advantages as long as organizations need to focus on diversity and look for ways to become totally inclusive organizations. Managing diversity means more than simply observing legal and policy requirements. Diversity is not something that will go away or diminish over time. Rather, the increasing diversity within our workforce population is emerging as a major resource upon which managers and organizations can seek solutions to various aspects of their businesses. 1.1 Definition of Diversity Frequently, diversity is viewed in a narrow perspective which includes differences in terms of race, ethnic or gender differences, and quite often linked to discriminate and enforcing laws to protect certain groups. Diversity includes all characteristics and experiences that define each of us as individuals. It can be further defined as primary dimensions of an individual, including race, ethnicity, gender, age, religion, disability, and sexual orientation. Secondary dimensions include communication style...
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...book may be reproduced in any form or by any electronic or mechanical means, including information storage and retrieval systems, without permission in writing from the publisher, except by a reviewer who may quote brief passages in a review. Published in association with CASHFLOW Technologies, Inc. “CASHFLOW” is the trademark of CASHFLOW Technologies, Inc. For information address Warner Books, 1271 Avenue of the Americas, New York, NY 10020. A Time Warner Company ISBN 0-7595-8139-8 A trade paperback edition of this book was published in 2000 by Warner Books. First eBook edition: February 2001 Visit our Web site at www.iPublish.com ACKNOWLEDGMENTS On April 8, 1997, Rich Dad Poor Dad was formally launched. We printed a thousand copies, thinking that quantity would last us for at least a year. Over a million copies later, and not a dollar spent on formal advertising, the success of Rich Dad Poor Dad and the CASHFLOW Quadrant continues to amaze us. Sales have been driven primarily by word of mouth, the best kind of marketing. Rich Dad’s Guide to...
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...Why Should Government Support the Arts? State governments today face monumental challenges: record-breaking budget shortfalls, rising unemployment, widespread home foreclosures and escalating needs for public assistance. States are wrestling with these immediate pressures while also trying to address long-term concerns about education, economic competitiveness and health care. All the while, public managers and elected officials must uphold the principles that taxpayers expect: thrift, accountability, equity and transparency. In this environment, all areas of spending—including the arts—are under increased scrutiny. Lawmakers may question whether government has a legitimate role to play in the arts or may ask why the arts should receive funds when so many other needs are pressing. We encourage you to welcome dialogue about these issues. The 40-year history of state arts agencies proves that when policymakers understand how the arts benefit government and citizens, they find a way to continue support, even during hard financial times. We hope that this document will help bring those benefits to the foreground and help your state answer common questions about government’s role in arts support. Designed for public arts leaders and advocates to excerpt and adapt, this material can be used to support your state’s case for the arts. Select the points that are most relevant in your situation. Quote the research. Add your own examples, and consider the tips and ideas included...
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...2 The Entrepreneurial Process "Who can be on entrepreneur you ask? Anyone who wants to experience the deep, dark canyons of uncertainly and ambiguity, and who wonts to walk the breathtaking highlands of success. But caution, do not plan to walk the Iotter until you hove experienced the former" An entrepreneur Results Expected Upon completion of this chapter you will have: l. Developed a definition of entrepreneurship and the entrepreneurial process that spans lifestyle to high potential ventures. 2. Examined the practical issues you will address and explore throughout the book. 3. Learned how entrepreneurs and their financial backers get the odds for success in their favor, defYing the pattern of disappointment and failure experienced by many. 4. Examined the Timmons Model of the entrepreneurial process, how it can be applied to your entrepreneurial career aspirations and ideas for businesses, and how recent research confirms its validity. Demystifying Entrepreneurship Entrepreneurship is a way of thinking, reasoning, and acting that is opportunity obsessed, holistic in approach, and leadership balanced. 1 Entrepreneurship results in the creation, enhancement, realization, and renewal of value, not just for owners, but for all participants and stakeholders. At the heart of the process is the creation and/or recognition of opportunities, 2 followed by the will and initiative to seize these opportunities. It requires a willingness to take risksboth personal and financial-out...
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...midriff-baring halter top, a skintight leopard microskirt, and platform shoes that had already tripped her up twice. She sheltered her eyes from the lights and glared at Sanchez. “Like I can even see the stupid logo,” she whined. “Maybe you could fix it on a computer or something?” “Or maybe you should just do what I say,” Sanchez shot back. “Then we might have some hope of airing this 30-second spot before your 15 minutes of fame are up!” He turned abruptly, strode off the stage, and dropped back into his director’s chair. “Let’s try it again from the top.” Maygan pouted at him for a moment and then flipped her long hair, spun around, and went back to her starting position. Sitting next to Sanchez was Ian Rafferty, cofounder and head of creative services for Advaark, a New York–based advertising agency. “Pretty tough to work with, isn’t she?” he whispered. “This?” Sanchez waved his hand dismissively. “This is nothing! Try working with some rock ‘n’ roll dinosaur strung out on crank and wanting to make a comeback!” In the back of the studio, Rafferty’s partner and fellow founder George Caldwell was deep in conversation with John McWilliams, the CEO of GlobalBev. Both men were oblivious to the antics onstage. One of...
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...them to provide great incentives to their employees and they want to create a work environment where employees would feel important. Because of the type of products the company developed the employees have to be dress casual and their focus is on sports. Brian and Jennifer want their employees to enjoyed the work place and developed an important loyalty and commitment to the company’s mission. How did Power Bar’s strategy change to drive growth? Power Bar strategy change to drive growth because power bar are facing increasing competition from other companies and their sales slowed down in the late 1990’s and the company decided to launched a new product (power bar harvest) in different flavors including a sport drinks to increase sales and grow the company. Being a franchisor seems to be a mechanism for growth, but what are the growth prospects for entrepreneurs who are franchisees? Entrepreneur needs to get a sense of the franchise market before they invest in a franchise. Being an entrepreneur, the individual or group should concentrate on the profit making businesses. Entrepreneur supposed to have link with the major groups by becoming franchises. Becoming franchisee is easy and success is not much easy. As a franchisee the entrepreneur need not bother about marketing strategies, market development, brand...
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...read? Here’s a quick but comprehensive summary of Kevin D. Johnson’s “The Entrepreneur Mind: 100 Essential Beliefs, Characteristics, and Habits of Elite Entrepreneurs,” released on March 5, 2013. Who should read this: “Whether you are thinking of starting a business, celebrating your first year in business, or approaching ten years in business, you’ll find tremendous value in reading this book,” Johnson writes. In other words, any entrepreneur looking for a mentor will find helpful tips here. Elevator pitch: Entrepreneurship can be taught, and Kevin D. Johnson wants to teach it. This book includes 100 easily digestible lessons in strategy, people, finance, marketing and leadership, including lots of anecdotes from his own experience. Author: Thirty-three-year-old Kevin D. Johnson is a serial entrepreneur and the president of Johnson Media Inc., a multimillion-dollar marketing and communications company. Strategy 1. Think big: Failing to reach your potential is a lesser-known, lesser-understood type of business failure. Entrepreneurs fail to think big because they are limited by their environment or their lack of expertise, or they lack the motivation or self-confidence. 2. Create new markets: Studies have shown that “blue ocean” businesses account for a disproportionate amount of the profits and revenues. 3. Work on your business, not in your business: Doing lots of operations work leads to early burnout. You should hire key employees so you can spend your time making plans...
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...Human Resources Management Plan and Job Aids Chase Smith HRM/240 3/11/12 Latrice Morrison Human Resources Management Plan and Job Aids Chasenurdreams.com is a small start-up company located in Las Vegas, Nevada. We offer Internet and Web-related services to small businesses in the Las Vegas and Phoenix areas. The services we offer include website development, design, hosting, maintenance, and marketing. We specialize in both commercial Web development and business-to-business sales. With this experience and expertise we believe chasenurdreams.com can offer a superior service to small business owners, with no current businesses cornering this market this move can turn into a large income for chasenurdreams.com. We believe the reason for this available market is due to expensive costs, the highest profit margins is in Web development for large- and medium-sized corporations. By reducing the company costs but maintain great web developers this will allow chasenurdreams.com to offer the same high-end Web development services as larger companies receive at a much lower cost to the client. In this paper you will see how the proper Job Analysis, Selection, Orientation, and Training will help chasenurdreams.com in the long run. The Right People An expensive cost to any company is training. Companies, on average, spend around $1,202 per employee on training (Bares, 2008). This number includes man hours, supplies, and paperwork. This number is projected to rise due to the overwhelming...
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...opportunity. Microsoft Corporation is a public, multinational business that is headquartered in Washington State, that develops, creates licenses, and supports a wide range of products and services primarily related to computing through its various product divisions. Microsoft is best known for dominating the world’s computer operating system with their Microsoft Windows line however has many other successful ventures in the industry. Established on April 4, 1975 by two friends Paul Allen and Bill Gates, Microsoft has become the world’s standard when it comes to computing software. Some of their more popular products include the Office Microsoft Suite, popularly used as the standard in offices all over the world, Bing the internet search engine, and Xbox 360 entertainment platform, including Kinect, which is designed to provide a unique variety of entertainment choices for individuals and families through the use its devices and online services. While Microsoft’s corporate culture is hard to pinpoint they have been described as a company who fosters innovation and creative thinking. Individuals who have worked at Microsoft, the technology giant, have described the working conditions as being very competitive and tough to keep up with. Being pioneers in the technology industry it is pertinent that Microsoft be forever changing and improving their designs and products.“Change, it seems, may be the best word for describing what is most important to Microsoft. And working within a...
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