...2014 Multinational Company: Introduction: Novartis was created in 1996 through the merger of Ciba-Geigy and Sandoz, two companies with a rich and diverse corporate history. Throughout the years, Novartis and its predecessor companies have discovered and developed many innovative products for patients and consumers worldwide. Novartis has five business segments and is supported by global research organization, the Novartis Institutes for BioMedical Research (NIBR). These segments are strategically aligned to bring innovative, high-quality and affordable medicines and therapies to patients around the world. Making full use of its cross-divisional cooperation potential, Novartis continually looks for opportunities to leverage the strength of its global and diverse businesses to meet patient needs and extend its differentiated leadership position. Novartis continuously evolve its businesses to create a patient-centered portfolio consisting of a wide range of products and treatments to address unmet medical needs. Its global Pharmaceuticals portfolio includes more than 50 key marketed products, many of which are innovative leaders in their therapeutic areas. In 2013 Novartis received a total of 13 approvals in the United States, Europe and Japan. Mission Statement of “NOVARTIS”: The mission statement of Novartis is “to care and cure.” Novartis want to discover, develop and successfully market innovative products to prevent and cure diseases...
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...Bernsen vs. Innovative Legal Marketing, LLC Final Project BUS 115 YMN1 Addie Stepp Hall Overview Actor Corbin Bernsen has filed a lawsuit against a Virginia Beach Company that has cancelled an agreement the two parties have made. Corbin Bernsen played Arnie Becker in the famous sitcom “L.A. Law”. Because of his acting success within the legal industry he was hired by Innovative Legal Marketing, LLC to perform some promotional work. However, Innovative Legal Marketing cancelled the one million dollar contract after one year due to the promotion only being successful in New York. The contract was supposed to be valid for five years. However, after the contract was cancelled, Innovative Legal Marketing continued to use Bernsen’s image on its website and even aired commercials that featured Bernsen. Even though Innovative Legal Marketing cancelled the contract, they were practicing illegal practices by continuing to use Bernsen’s image without his knowledge, consent and compensating him. Introduction There are many steps to take when it comes to the process of a contract and then having to sue someone if they act illegally within the contract. The first process in this case is determining the judicial process, what court to use. The second is determining if this case is part of the criminal law, or the tort law. The next step is looking into the contract to decide which side acted illegally and what should be awarded to those that were affected by the illegal...
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...Proctor and Gamble. This paper will touch on the global outlooks and strategies in which the CEO A.G. Lafley used. Lafley used these processes in conjunction with the five skills of discovery to promote growth within the company and to increase sales. This paper will discuss the different models that could be used to encourage innovation within Proctor and Gamble that will help innovative leaders in their roles and responsibilities. Lastly, this paper will also discuss how the information discussed correlates with the five skills of discovery. The leader’s actions will then be assessed and scored on how well they implemented change and shaped a culture that is more innovative in their organization. Supportive Leadership Model There is one model in particular that could be chosen to help increase the progression in the Proctor and Gamble organization. The Transformational leadership model could have been a great assesst in the development of new ideas in Proctor and Gamble. Proctor and Gamble first used the “closed innovation” model and then switched to the “open innovation” model to create growth within their organization. According to Venkatesh & Devi (2006), In 2003 Alan Lafley developed the “Connect and Development” model to generate ideas from scientist, engineers, and enterpauners and individuals outside the company. P&G already had some strong models in place to help with the change within their organization. The global context of the organization looked promising, but the...
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...Best Snacks has become a company that is reluctant to change and their issues with familiarity issues are becoming costly to business. The ability to innovate and remain creative in all aspects of the company is an integral part of success. “In the long run, the only reliable security for any company is the ability to innovate better and longer than competitors” (Davila, Epstein, & Shelton, 2006, p. 3). Best Snacks 100 plus years of operations is proof that an innovative culture is necessary to remain a business leader in its market. Change is usually met with resistance, but it is the responsibility of the management team to foster an accepting culture of employees. Best Snacks will develop ways to involve employees and management in the creative and innovative method of business by inspiring a culture to increase creative thinking and progress, to regain industry leadership. Describe the Situation Issue and Opportunity Identification Best Snacks have been an industry leader for numerous years but recently management has not created an environment conducive to innovation and strategic organizational change. When employees and the research and development team increases their skills through experimentation with products and service offerings, the culture is more creative and performs at a higher level. Best Snacks management drive to innovate was not strong because the company has been in the number one spot for many years. As other companies began to innovate, Best...
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...Creative Problem Solving When a company has a problem there are several steps that the management can take to solve these situations. Step one: The company’s management team will identify the problem that the company is currently facing. * Identify the true cause of the problem * Gather all relevant information and data * Analyze the data * Compile a list of essential components Step two: The management team will need to come up with some alternate solutions and evaluate the solutions to solve the problem. * Brainstorm new alternate solutions * Take each new idea and evaluate them * Use the “What if” for each idea * What is the cost and risk of each solution? Step three: The management team will choose the best course of action tor actions needed to correct the problem. * Clearly state the course of action * Brief the CEO or the Board Step four: This is the implementation phase. The management team will need to answer the following questions. * Is this the right time to implement the changes? * How are they going to implement the changes? * Do they have the proper resources to make the changes? * What is the time line for these changes? Step five: This is the most important step that the management team will follow. This is the evaluation step after the changes have been implemented. * Collect and analyze new data * Has the changes corrected the problem? * Are there any changes that...
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...the skills and behaviors of this leader and others and how they prepare their organizations to be more innovative. Not only will this paper highlight the global trends that influenced Nayar to create a new, innovative organization, but also will use the model of assessment that will be used is based on the five discovery skills from the “DNA Disruptive Innovators” of Dyer, J. H., Gregersen, H. B., & Christensen, C. M. (2011) Innovator’s DNA, how did Nayar use these discovery skills to create an innovative organization and what recommendations that Nayar can use to support and encourage an innovative organization. When one thinks of innovation, it is a term used to described new ideas and new beginnings. One who introduced this concept to a failing organization, was an innovative leader named Vineet Nayar. In 2007, Nayar was named CEO of IT Services and Outsourcing Firm HLC Technologies. With his strategic vision and global outlook, he catapulted the then dismal firm into the leader of the organizational pack in a short amount of time. First, this analysis will take a deep look into the strategic vision and global outlook that Nayar used to catapult HLC Technologies. Also, the analysis will introduce the five discovery skills and how Nayar used these skills to create this organization and what steps he needs to take to continue shaping HLC into a more innovative company. In the beginning of Nayar's 2010 article "A Maverick CEO Explains How He Persuaded His Team to Leap into...
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...present a case study on a selected innovative business organization. The principle objective of this assignment is twofold: 1. To identify what a real world company did to become a successful innovative organization; and 2. To assess the challenges and net benefits to the organization on doing so. This case is worth 30% of the final grade and with presentations on Week Thirteen and Fourteen. In weeks eleven and twelve there will be reviews based on the progress to date that will be worth 5% each. Students must be in class to achieve their grade out of 5% for each class. The final report and presentation will be worth 20%. Critical and Creative Thinking The following sub heading “The Required Areas of Work” outlines the focus that your report and presentation should take. However, I am looking for your team to apply critical and creative thinking in your research and analysis. This means that your responses to the questions will be clear, concise and simple (and not a copy and paste of patches of content). Business requires that you provide direct and relevant answers to questions in as little time as possible. I want you to summarize your answers to the questions below as follows: 1. Give a one word or max one short sentence responses that you can speak to (i.e. provide the more detailed backup). For example, for “Why is your company considered a successful company?” One word responses might be: It is a growth company; It has high financial margins; etc...
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...INNOVATIVE WIDGETS CUSTOMER SERVICE PLANS A vision and mission that refers to internal and external customers: Vision Innovative Widgets wanted to be known worldwide as the highest quality widget producer and in five years time, Innovative Widgets will be considered a market leader in customer service. Internally it will keep employees focused, providing various motivational programs and training with extra beneficiary services. Externally, they will be publishing the business activity as the statement tells your clients what they can expect from the company. Just knowing that provides them a sense of stability and security. Mission Innovative Widgets aims to provide our customer's with the best quality products and competitive prices. We aim to provide our staff with advanced training to ensure that you get the best possible service from our company. We have very organized IT departments to do its best to help costumers achieve customer satisfaction. Externally our company aims to create closer linkages and better communication with customers giving them most reliable widget technology with unparalleled customer service. Product standards For the best revolutionary company we can provide the best products. Consumers are guarantees for products, if you buy a product (such as widgets): • Dimensions: The dimensions of our Innovative Widgets will vary from each other; it will all depend on the customer preference. But what we assure is that the widgets will...
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...competitive advantage in today’s market, businesses must push to create and produce innovative products and services for their customers. When looking at the success of gained by organizations like Apple, Amazon, or Google, their innovative successes has allowed them to achieve global reign in their individual business areas. The success gained by these companies cannot be credited to only the vision of their CEO/leader but the credit for the success goes to everyone involved in the design, production and management of all the projects within the company. In The Innovator's DNA, innovative leaders have obtained and held onto three prominent skills that these innovative organizations have which generally help contribute to the successes of the respective companies. Along with the DNA of disruptive leaders and organizations, Doyle & Smith (2001) told of what they named “Classical Models of Managerial Leadership”. With having a strong leadership model with the DNA of the disruptive leaders and organizations, organizational leaders have the capability to takeover a global market by creating what will be considered to be a truly innovative product and/or service. One of these great innovative organizations in the medical world is Intuitive Surgical. This robot-aided surgical company created the “da Vinci Surgical System”. This is the companies most innovative and profitable product yet. The dynamic company industrialized a groundbreaking product and reached market supremacy worldwide!...
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...Table of Contents Introduction 3 Nike, Inc. 3 Under Armour 4 Porter’s five forces analysis 5 Nike, Inc. and Under Armour innovation strategies comparison 7 Conclusion 9 References 10 Introduction Nowadays, more and more people become concerned about health; they develop special diet that include vitamins and advanced nutrition supplements, and of course they do sports. Any kind of sports demand at least basic sports outfit: a T-shirt, shorts or pants, and a pair of shoes. Industry of sports apparel and footwear is an important part of today’s global business, where big companies have to compete for a customer. It is rather hard to differentiate on this market, because all the goods have to fulfill only one goal: make a person feel comfortable during a workout. Thus, companies have to work harder to develop new innovative products to gain market share advantage. The market of sports apparel is now dominated by several big companies: Nike, Inc., Adidas group (which includes Adidas and Reebok), and Puma. But there is also a new fast-growing and very promising player - Under Armour that managed to enter this saturated market. The key success factor for Under Armour was their innovative approach in creating sports apparel. Observing Under Armour’s success Nike has reconsidered their strategy and made innovation the core part of their mission, and in 2013 Nike was announced a #1 innovative company by fastcompany.com. So now there are two key innovators on the market of...
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...new ideas and new beginnings. One who introduced this concept to a failing organization, was an innovative leader named Vineet Nayar. In 2007, Nayar was named CEO of IT Services and Outsourcing Firm HLC Technologies. With his strategic vision and global outlook, he catapulted the then dismal firm into the leader of the organizational pack in a short amount of time. In the beginning of Nayar's 2010 article "A Maverick CEO Explains How He Persuaded His Team to leap into the Future”, he describes his appointment as President of HLC technologies as a “leap to safety.” (Nayar, 2010) It became apparent that there was something he needed to do to change the interface of this company. He began to create a vision, but knew that it would not take place without some major adjustments. When one thinks of innovation, it is a term used to described new ideas and new beginnings. One who introduced this concept to a failing organization, was an innovative leader named Vineet Nayar. In 2007, Nayar was named CEO of IT Services and Outsourcing Firm HLC Technologies. With his strategic vision and global outlook, he catapulted the then dismal firm into the leader of the organizational pack in a short amount of time. Vineet formulated the” employee first, customer second approach” and took HCL to be one of the most successful IT outsourcing businesses in the world. It worked magic at HCL and the company created 34% percent revenues even at the time of turbulence (sparks.wisdomjobs.com). Key insights...
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...Assessment Coversheet ------------------------------------------------- Last name: Jayswal ------------------------------------------------- First name: Manush ------------------------------------------------- WIN ID: 150007 Student contact phone number: 0412535700 ------------------------------------------------- Student email: Jayswalmanush@gmail.com ------------------------------------------------- Unit of study code: BSBCUS501C ------------------------------------------------- Unit of study name: Manage quality customer service ------------------------------------------------- Unit of Study Trainer: Deyaco ------------------------------------------------- Assessment title and Number: Task1 ------------------------------------------------- Due date: XX/XX/XXXX – OR – ------------------------------------------------- I have been granted an extension/Special Consideration until XX/XX/XXXX ------------------------------------------------- Time & date submitted: HR:MIN AM / PM XX/XX/XXXX ------------------------------------------------- Academic Honesty All forms of plagiarism and unauthorised collusion are regarded as academic dishonesty by WIN, resulting in penalties including failure of the unit of study and possible disciplinary action. In submitting this assessment, I acknowledge the following: * I have read and understood WIN's Plagiarism Policy 2014 on page 21 at (http://www.win.edu.au/image...
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...CORPORATE CULTURE SECRETS OF FIVE COMPANIES EMPLOYEES LOVE How innovative companies are creating ways to build company culture while seeing tangible benefits. INTRODUCTION Creating the right culture for your company could be the best investment you ever make – and often, it doesn’t cost a dime. The world’s most innovative companies find hidden value by operating outside of established business culture. Time and time again, competitors are left asking, “How did they do that?” CORPORATE CULTURE SECRETS OF FIVE COMPANIES EMPLOYEES LOVE The answer is simple: Culture. The right culture fosters innovation, finds talent in unexpected places, and empowers employees at all levels. There isn’t a one-size-fits-all solution, but the following examples from leaders of innovative company culture will help you adopt a mindset that inspires greatness. /02 CORPORATE CULTURE SECRETS OF FIVE COMPANIES EMPLOYEES LOVE FOSTERING INNOVATION WHILE DEVELOPING EMPLOYEES If you get the culture right, most of the other stuff will just take care of itself. Tony Hsieh, Founder and CEO, Zappos.com /03 FOSTERING INNOVATION WHILE DEVELOPING EMPLOYEES Ideas From Everywhere (IFE) is a program for CareerBuilder employees, launched nearly 8 years ago as part of a company decision to adopt a strategy centered on innovation. In essence, employees are encouraged to submit their ideas for new businesses within the company. Their fellow employees are then asked to vote for the best idea...
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...course? The fundamental purpose of this book is to teach us the great importance of corporate entrepreneurship and innovation that helps companies sustain their competitive advantage. Companies today know that they must be faster, more flexible, more aggressive and more innovative in order to maintain the competitive edge. The focus is on creating work environments where entrepreneurship is not the exception, it is the norm. Therefore, the purpose of this course is to teach and challenge us to develop and defend our opinions regarding the matters related to corporate entrepreneurship. We will then take these ideas, concepts, tools, and frameworks to which they are exposed and apply them in a series of real world cases and contexts. 2.) What, then, is the fundamental choice that established companies are being faced with? The fundamental choice that established companies are being faced with is the choice of whether or not to start using “new management thinking” or sticking to their old methods. Companies today are forced to be able to adapt, adjust and redefine themselves to be able to sustain their competitive advantage. They must continually accept new ideas, methods, and things that haven’t been tried before. The only way to sustain that competitive advantage or get a jump on the competition is to be continually innovative in coming up with new bright ideas. 3.) What are the two key environments that must be considered in order to understand modern corporations-as...
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...Armour, Nike, and The adidas Group? Do a five- forces analysis to support your answer. The analysis of the Porters five forces are very important to business entities. Based on the analysis a business can evaluate their current position and positions that they plan to progress towards as it relates to the industry they are operating in. The following is my five forces analysis of the competitive forces confronting the companies that operate in the industry that Under Amour, Nike and Adidas operate in. Competitive Rivalry: There are many companies in the sports apparel, footwear and accessories industry, such as Nike, Adidas, Puma, Champion, New Balance etc. just to name a few. Many of the company’s competing in the industry offer a wide variety of similar products and each is trying to establish its brand as the brand for customers to commit their money and loyalty towards. What is obvious right away is that Nike and Adidas are Under Amour’s two biggest competitors and they have the highest percentage of market share. All three companies are established, have good resources, strong finances, sound marketing plans and popular celebrities that they can use to endorse their products. Therefore I think it’s safe to say that competitive rivalry in the industry is pretty strong. Supplier Power: The supplier power in the industry is low because there are many manufacturers and sources for materials that the various companies in the industry can use in order to...
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