...Founder – (or Founders-) Related Issues * Founder of founders experience in the industry/ are of high potential and with experience. All products are specially hand made and designed. The experience is due to the many years of this type of work as a hobby that had eventually seen its potential as a growing business. * Found or founder’s skills as they relate to the proposed new ventures product or service/ is of high potential, and the founder is at a highly skilled level. Due to the amount experience there is a great level of skill that is put into the creation of these products. * Extent of the founders professional and social networks in the relevant industry/ is of moderate potential because of the only form of networking is Facebook, with there still being room for potential growth. * Extent to which the proposed new venture meets the founder or founders personal goals and aspirations/ is of high potential and strong. Founder is focused on goals set by herself and measures goals with each product being made on time or in time for sale. * Likelihood that a team can put together to launch and grow the new venture/ has high potential and is very likely depending on the desire to want to grow the business or consumer demand for products. With that it can become very likely to put a team together to get products out more efficiently. Part 5: Financial Issues * Initial Capital Investment/ is of high potential and requires a low intimal capital...
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...How to Pick the Right Idea? Imagine you have just finished a successful brainstorming session and you're sitting in front of a long list of great ideas. Now what? Gijs van Wulfen shares five important learnings on how to pick the right idea. Think different. That’s the essence of creative processes in coming up with ideas for innovative products, services or business models. An awful lot brainstorms or ideation workshops take place to generate fresh new ideas. At the end of idea generation you end up with a wall of ideas. Which is great! I like to quote the American chemist and Nobel Prize winner Linus Pauling who said “the best way to have a good idea is to have lots of ideas”. Generating ‘outside the box’ ideas is often not the problem in an ideation workshop with 10 people or more. No. It is the moment when you go from the divergence into the convergence phase, which is critical for your innovation success. Imagine you have a wall of 500+ ideas in front of you: and now what? How do you pick the right idea? That’s the question. In my innovation practice I have experimented a lot the last 10 years to deal with this essential question. It’s not an easy one to answer. Unfortunately I have not found the ‘holy grail’. But the great advantage of continuous experimenting in converging, selecting and improving ideas is that you learn a lot. And I like to share five of my important learnings on how to pick the right idea. 1. Take you time. One of the most frequent mistakes...
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...Innovation allows for a new idea or creation of a new product or service. In my line of work, a new process or system can be innovative in which we improve a way to better manage student records therefore improving the quality of work and time efficiency. expected and use different avenues for improving a process or product. Design “Good design is about looking at everyday things with new eyes and working out how they can be made better. It is about challenging existing technology” (Stamm, 2003). This could get confusing as it sounds much like creativity and innovation. an architect, to create a design for a new product or a new service. Creativity To be creative is to be able to see things from a different perspective. It is like looking through a special lens and being able to see beyond what is in front of you Differences and Similarities In comparing Creativity, Design and Innovation, it is easy to confuse each of these ideas because they are so similar. They all deal with a new way of looking at an idea however; designing is done with a purpose or an intent to do something with that idea. Creativity is to think outside of the box and view things in a different light. Creativity challenges a person to seek a certain level of uniqueness in their way of thinking based on an idea. Innovation differs from both in the sense that this is where the idea begins. Innovation calls for something new and different. Conclusion Creativity, design and innovation...
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...Innsbruck Bjorn Stensaker and Lee Harvey explored the issue of quality culture (Harvey and Stensaker, 2008). They suggested, following Williams (1983) that quality culture is a complex concept. They explored the numerous definitions of culture and how its meaning changed over time, not least from an élite notion of ‘high culture’ through to a more democratic view of multiple cultures and subcultures. They suggested that, at core, culture is shared, learned and symbolic. In short, culture is a way of life. When applied to organizations, Harvey and Stensaker noted the view that culture is perceived as either something an organization has (a potentially identifiable and manipulative factor) or something that an organization is (an integrated product of social interaction and organizational life that is impossible to differentiate from other factors) (Alvesson& Berg, 1992). What is...
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...before the product released which are idea generation, idea screening, concept testing, business analysis, prototyping, test marketing commercialization and monitoring & evaluation. The first process is idea generation. Idea generation is the process of creating, developing and communicating ideas which are abstract, concrete or visual. This process includes the process of constructing through the idea, innovate the concept and bringing the concept to reality. For example, if you can see and observe coffee shops in Malaysia, after making an order we have to wait near the pick-up desk to get our order. You also can wait at your table and the barista will call your name when your order is ready. Sometimes it can happen that you didn’t hear the barista calling up your name. It is difficult to shout out customer name every time the order is ready. That is why coffee buzzer is a must item in all coffee shops. The idea generation is coffee buzzer to make coffee shops become more organised in term of pick-up order. The used of this coffee buzzer is when you are done with your order the cashier will give you this buzzer and you can wait at your table. When your order is ready to pick-up the buzzer will vibrate and you can go to pick-up your order and give back the buzzer to the counter. This is the innovation towards coffee shops. The second process is idea screening that used to evaluate innovative product ideas, strategies and marketing trends. Back to the idea is to make...
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...outstanding customer service and integrated yet user friendly interface. E-Z RP had was at the time one of the “fastest growing service-based products” available to consumers. Their success, however, was exactly what attracted the attention of the technology tycoon, Datatronics. Following the acquisition, there was a significant switch up staffing structure. Matt Rubenzahl, the development manager behind E-Z RP was assured that he still had a job, just no longer as development manager. He was told that he had been moved to a position that would oversee the newly combined customer service center. While he wasn’t really on board with the idea, he decided to give it a shot figuring he didn’t have much choice if he wanted to stay employed. Matt didn’t know anything about running a data center other than the customer service experience he had gained while working with E-Z RP. Once in the new position though, it didn’t take him long to realize that the customer service Datatronics provided was severely lackluster. The CSRs had barely any training and were only given a basic knowledge of all of the products the company offered. The current customer service plan was geared towards cutting costs, not helping customers. The software available for CSRs to use was extremely inefficient as well. The search feature was subpar, the product information was not unified, and CSRs were often the last to know about new features and upgrades. This led to inconsistent advice being given...
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...ways to grow as individuals. Innovation takes chaos and turns it into order. Creativity is a thought in our minds and taking that thought and improving on something that already exist or an idea of something new. Invention is taking that creative idea and put it into form that can be used. Innovation is taking this idea or product/idea to the market. Creativity consultant Joyce Wycoff (1991) defines creativity as "new and useful". Creativity is the act of "seeing things that everyone around us sees while making connections that no one else has made." (p. 22). Inventions are new to the world, never seen before or to put it into a better perspective, to discover something new. Nevertheless, innovation is about changing or improving something or some would say ideas to improve the quality of life or business. For example, the phone was an invention where cell phones are an innovation. In some form, creativity, invention and innovation work together to bring the idea/product to life. With the changes that have taken place over the last century, Organization has had to face the realization that in order to move to the next level in a world where competition is everything, you have to embrace a creative way to solve problems. Diversity has become the focus of most organization today. This can bring many ideas to the table that can create problems. For example, with global companies that has expanded to other nations; have faced obstacles in culture barriers. The...
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...prenhall.com/entrepreneurship. Introduction A. Name of the proposed business B. Name of the founder (or founders) C. One paragraph summary of the business Part 1: Product/Service Feasibility Issues Addressed in This Part A. Product/service desirability B. Product/service demand Assessment Tools Concept Statement Test • Write a concept statement for your product/service idea. Show the concept statement to 5 to 10 people. Select people who will give you informed and candid feedback. • Attached a blank sheet to the concept statement, and ask the people who read the statement to (1) tell you three things they like about your product/service idea, (2) provide three suggestions for making it better, (3) tell you whether they think the product or service idea is feasible (or will be successful), and (4) share any additional comments or suggestions. • Summarize the information you obtain from the concept statement into the following three categories: * Strengths of the product or service idea—things people who evaluated your product or service concept said they “liked” about the idea * Suggestions for strengthening the idea—suggestions made by people for strengthening or improving the idea * Overall feasibility of the product or service concept—report the number of people who thing the idea is feasible, the number of people who think it isn’t feasible, and any additional comments that were made * Other comments and suggestions Buying Intentions Survey ...
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...History, 2012). Lowe’s runs more than 1,745 stores in the United States, Canada, and Mexico. In 2011, Lowe’s received numerous distinguished industry awards, including number 50 on the Fortune 500 list, and three- time winner of the Energy Star Excellence Award in Retail (Lowe’s, 2012). Lowe’s sells a wide-range of home improvement products in its large, warehouse-style stores ranging from appliances to tools, paint, lumber, and nursery products. Lowe’s stocks 40,000 products in 16 categories (Lowes, 2012). Besides the products on hand they also offer hundreds of products by special order – offering. Lowe’s also offers installation services for some of their products as well. They offer installation services to more than 40 products. Examples of their installation products are appliances, bath, kitchen, plumbing, flooring, windows, doors, window treatments, lighting, and insulation among others (Lowe’s 2012). The installation service targets various customers. Customers in the older group and also people who are not DIY (do- it- yourselfers) as well as women and people on the go, which have no time. Lowe’s carries numerous brands in each product groups recommending a variety of price points for customers. For instance, in the appliance group Lowe’s stocks a lower-end brand named Tappan. In this brand the price for appliances are more affordable for customer rather than a high- end brand. A good example, Lowe’s stocks a dish washer made by Tappan that sells for $229 and also...
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...Contents Indian Insurance sector poised for its next stage of growth The puzzle of untapped potential Redefining Customer Value Proposition Improving Operational Performance Key challenges in leveraging Innovation Improving the Innovation Quotient Conclusion Contacts 1 Indian Insurance sector poised for its next stage of growth The insurance sector in India has grown at a fast rate post-liberalization in 1999. In the last decade, total premium grew at a CAGR of 25% and reached a total of $67 billion in 2010. Indian Life insurance industry (which contributes 88% of total Life and General insurance premium in India) has emerged as the 9th largest life insurance market in the world. Yet, Insurance penetration (measured as ratio of premium underwritten to GDP) was only at 5.2 % in 2010 – significantly lower than Asian peers like South Korea, Taiwan, Japan and Hong Kong which boast an insurance density greater than 10%. 1 With low insurance penetration levels, growth potential remains promising. More importantly, the pace and nature of growth will likely see a change where new behaviours and dynamics of demand and supply will apply. On the demand side, growth is being fuelled by the growing population base, rising purchasing power, increased insurance awareness, increased domestic savings and rising financial literacy. The suppliers are correspondingly playing a market making role as competition heightens and differentiation become necessary for profitable growth. In the new...
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...Operation Management Product and Service Design Mc Donald Company By Dimas Candrika Usman Priyandono Magister Manajemen Fakultas Ekonomika dan Bisnis Universitas Gadjah Mada 2015 History of Mc Donald McDonald's Corporation is a fast food restaurant which is very famous and is one of the largest and has spread globally. The main dish in restaurants McDonald's is a hamburger, but also serves soft drinks, french fries and dishes that are maked to the restaurant where it is located. McDonald's emblem is two yellow bow that is usually displayed outside their restaurant and can be immediately recognized by the public. The company's business began in 1940 with the opening of a restaurant by Dick and Mac McDonald in San Bernardino, California. They introduced the "Speed Service System" in 1948, which later became the basis pinsip modern fast-food restaurant. Early McDonald's mascot, named Speede, is a man with a hamburger-shaped heads that use a chef's hat. Speed was replaced by Ronald McDonald in 1963. McDonald's does not currently make 1940 as the year of birth of the McDonald's restaurant. They selected 15 April 1955 when Ray Kroc bought McDonald's franchise license from Dick and Mac in Des Plaines, Illinois, as the day of his birth. Kroc later bought shares of McDonald's brothers and led the company to expand to the whole world. McDonald's shares went on sale to the public in 1965. Until 2004, McDonald's has 30,000 restaurants around the world with an average...
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...can for the environment and look at what they are using in waste and materials and see if they can change what they do in order to improve their performance. To help improve their environmental performance, they make sure that they make sure that they recycle all materials that they can and have brought in many different schemes to help them improve their performance, including battery and mobile phone recycling schemes and Together for Trees. The machinery and plants that Tesco use can also help to improve their performance. The plants are where the manufacturing of Tesco products takes place and is a large factor in improving their performance. This can improve their performance because with larger companies and supermarkets such as Tesco, they will use companies that already make certain products to make their own brand products which will mean that, because they have got someone else to make these products for them, they can use less staff at the plants and can use less of their own resources. The equipment...
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...KAIZEN COSTING THE PERFORMANCE OF THE ORGANIZATIONS TABLE OF CONTENTS Page Table Of Contents 1 1.1 Introduction 2 1.2 The Concept Of Kaizen Costing 2 1.3 Kaizen And Management 4 1.4 Kaizen -The Three Pillars 5 1.4.1 Housekeeping 5 1.4.2 Waste (Muda ) Elimination 7 1.4.3 Standardization 10 1.6 Kaizen And Total Quality Management (Tqm) 13 1.7 Kaizen And Suggestion Systems 14 1.8 Goals Of Kaizen Vs. Quality, Cost And Delivery 15 1.9 Common Disconnects/Roadblocks In Kaizen Implementation 16 1.10 Advantages Of Kaizen Costing 17 1.11 Disadvantages Of Kaizen Costing 18 1.12 Conclusion 19 References 19 1.1 Introduction Kaizen means improvement, continuous improvement involving everyone in the organization from top management, to managers then to supervisors, and to workers. In Japan, the concept of Kaizen is so deeply engrained in the minds of both managers and workers that they often do not even realize they are thinking Kaizen as a customer-driven strategy for improvement. Kaizen is a Japanese philosophy for process improvement that can be traced to the meaning of the Japanese words ‘Kai’ and ‘Zen’, which translate roughly into ‘to break apart and investigate’ and ‘to improve upon the existing situation’. It is using common sense and is both a rigorous, scientific method using statistical quality control and an adaptive framework of organizational values and beliefs that keeps workers and management focused on...
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...innovative work environment. Employee morale has suffered because staff does not feel encouraged to be creative or that their opinions are valued. By benchmarking other companies, Best Snacks can determine which strategies they can implement to continue their previous successful history. Best Snacks has the opportunity to reorganize their structure to promote innovative ideas, improve management skills, and realign the vision with a new organizational culture. There have been no product or service innovations in the past 5 years; instead, previously successful marketing methods have been improved or extended. For example, the most recent product information had new package sizes. Best snacks needs to remain competitive and an industry leader by researching, analyzing, and surveying today’s consumers in order to develop new products. The previous corporate security of sustainable market strength based on a track record of quality and brand-name recognition is no longer a prologue to the future. This is a new era of constant, rapid, and unpredictable change. Best Snacks need to develop new leading products and new marketing strategies that will boost sales, bring in new customers and allow the company to remain an...
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...Capitalism ADI IGNATIUS: Now, your article is meant to fix a problem. What is the problem? MICHAEL PORTER: Well, the problem is I think we've gotten into a very vicious cycle in thinking about the relationship between business and society. And really, the purpose of capitalism, and the benefits of the capitalist system to society, and to meeting society's needs-- needs like improving people's lives, and improving the health of communities. We've gotten into a cycle where, I think, business has evolved and thinking about business management has evolved, in a direction that we've narrowed the scope of how you create economic value. And increasingly, companies are being perceived as creating profit at the expense of the community, not creating profit that actually ultimately benefits the communities. As a result of this, I think government has increasingly seen business as a problem, as a source of bad things in society. And the mindset is becoming increasingly to regulate, to control, to tax. And ultimately, now often political leaders are unable to pursue business-friendly public policies, because the political environment almost forces them to be tough on business. Despite the fact that we know at some deep level, business and society need each other. But we've kind of gotten ourselves into a bad place. ADI IGNATIUS: But, I think a lot of business people would argue, what we do is run businesses, and we make profits. And when we're successful we hire people. And that's...
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