...allowed Ryanair to be the number one on its market. To keep this place, Ryanair needs to adapt itself by choosing a development strategy. For that, there are different directions that Ryanair might take. Development opportunities “In a decade or so, airlines will pay the travellers to distribute people around Europe” Michael O’Leary, the Ryanair’s CEO summarizes the future direction of its company with this sentence. Therefore, Ryanair has to continue to find innovative cut reduction methods, as well as innovative revenue generation methods. In order to remain competitive with its business model, Ryanair will need to have the largest amount of routes in Europe and the lowest fare. It is now clear that there is only room for one or two major actors in the low-cost airline market (88% of the market shared by Ryanair and Easyjet). We are going to examine where the opportunities of development are, and how Ryanair will keep its fare at the lowest, by cutting the costs and by finding new ancillary revenue generations. Market development: The opening of new markets, the rise of the number of travellers and the new competitors force Ryanair to constantly try...
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...Aligning Supply Chain Strategies with Product Uncertainties Hau L. Lee upply chain management has emerged as one of the major areas for companies to gain a competitive edge. Managing supply chains effectively is a complex and challenging task, due to the current business trends of expanding product variety, short product life cycle, increasing outsourcing, globalization of businesses, and continuous advances in information technology. The Internet has contributed to both the increasing needs and opportunities for improved supply chain management. With the Internet, companies in a supply chain can be connected in real time with information and knowledge shared continuously, new products and services can be designed to fit special market segments, and new supply chain structures can be developed to serve customers in a more direct manner. S When a company faces the pressure of excessive inventory, degraded customer service, escalating costs and declining profits, or a poor return on assets, its supply chain is out of control. On the other hand, when a company moves in to new markets or new technologies, it must have its supply chain prepared for the new business challenges and opportunities. Although there are many new supply chain concepts and fads designed to exploit the advantages of the Internet, successful companies understand that the right supply chain strategy is dependent on a number of factors: ▪ The strategy needs to be tailored to meet specific...
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...Seminar 4: Electrolux AB: Managing Innovation. Problem Essay Group 10: Victoria Gruener, Christophe Vigier , Jiamei Chen, Xavier Cordova, Maria Isabel Durá, Marta Pérez 1. Problem definition: Electrolux AB is the second largest kitchen and home appliances company worldwide. Anton Lundberg and Joakim Rask, the Vice presidents of this company, clearly layout two main areas of concern for the company concerning innovation. They must find a manner to foster collaboration across continents and functions to improve the innovation method and create a culture of innovation wherein change is perceived by everyone in the company as an opportunity rather than a threat. The history of Electrolux is comprised of many mergers with and acquisitions of numerous companies. As such, the company has not only to compete in an evolving market, but it is also forced to address many internal organizational issues as well. 2. Diagnosis: In order to achieve innovation as a strategic source of differentiation, it was necessary to foster collaboration across geographies and functions, which was a challenging task for Electrolux AB because of its organizational structure based on a productcentric approach and the presence of silos in the whole organization. It was also necessary to create an innovation culture within the company, ...
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...LinkedIn, Facebook, YouTube, etc.? Introduction “The procurement function is constantly evolving, with many organisations going through significant transformations over the past decade. Now more than ever, there is a considerable emphasis on the integration phase and the focus has shifted to delivering the value proposition through collaboration and partnerships.” (http://www.procurementleaders.com/forum-zurich) Financial crises have been troubling our economies and it seems that every new crisis has a bigger impact than the one before. As a result, top management is looking more and more towards procurement with the goal to improve their bottom line. But lately procurement has shifted from strictly operational to a more strategic function. Hot topics are not only low cost sourcing, but also supplier integration to become more innovative, procurement technology’s contribution towards profitability and growth, and how social media affects talent management (http://spendmatters.com/uk/procurement-hot-topics-agenda-2014-part-2/). However, the measurement of procurement contribution is often a very sensitive subject. There are no clear boundaries between the various functions involved and thus tensions are bound to occur when it comes to target savings per function at the end of the year. Among today’s hot topics is also the identification of effective processes for managing supply chain risks and corporate social responsibility. Many organisations have their CSR...
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...where the puck is going to be. Wayne Gretzky Human resources and social media | 1 Contents Executive summary Supercharging talent acquisition and talent management Addressing mobility and collaboration Leveraging the multigenerational workforce Managing the potential risks associated with social media Conclusion … how to get ready 02 04 05 06 09 12 2 | Human resources and social media Executive summary Truly world-class leaders empower key employees to become evangelists for the firm on social media platforms, helping customers, building the brand, attracting talent, and giving a personal face to the company. In addition to the external advantages, these key social media leaders become even more engaged and personally bonded to the company, its mission, and goals if done correctly. These employees can come from anywhere in the organization, from interns, to line personnel, to managers, to product leaders, to executives – but it must be done correctly and be given the support and attention necessary to prevent the foray from falling flat. Social media is well-established as a consumer and brandoriented set of tools. Increasingly, social media is being offered as an innovative solution for internal effectiveness. When strategy and governance are integrated with social media tools, they can positively impact your organization. An organization that thoughtfully embraces social...
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...Enhance Innovation” Khalid Helal, khldhelal@gmail.com Master of Management, IIUM Introduction Knowledge Management (KM) is a recently emerging approach pointed at addressing today’s business challenges to increase organizational efficiency, efficacy and new innovation by applying several tools, techniques and strategies in business process. The purpose of this paper is to develop the organizational knowledge, knowledge sharing and enhancing innovation to increase the organizational and managerial efficiency. Those activities enhance and develop by the using of knowledge management tools and techniques. Further, knowledge management plays an important supporting function by providing a coordinating mechanism to enhance the changes of resources into capabilities. The knowledge management tools can influence to enhance innovation which is the significance for a firm’s performance. Literature Review A. Explicit and Tacit Knowledge (Nonaka, 2000) Has explained explicit knowledge is proper methodical or organized language shared in the form of facts, like as scientific method, specification and manual. It can be treated, memorized and systematic language”. transmitted easily. On the other side, tacit knowledge is really private and hard to formalize. Subject related intelligence fall into the several class or category of knowledge. (Wachter, 1999) Has explained “Tacit knowledge is personal and context specific, which is often developed over a long period of...
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...of $1. The organization's effect on the availability of learning and considerably in the world economy and society is the thing that makes it unique and seemingly matches the consolidated impact of the East India Company, the Henry Ford Motor Corporation, Lloyds of London, and the fabulous foundations which have molded the present day time. Google has not just changed the way we work, act and think, in any case, as indicated by some recognized natural chemists, its effect on the training of the e-educated, advanced era, will unavoidably impact the improvement of the human cerebrum. On the off chance that 10,000 hours of use make an expert performer, what will come about because of this level of interface with the virtual world? No only innovative or financial wonder has had a similar impact on the Gutenberg's creation of the printing press five hundred...
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...BRAC University Journal, vol. V, no. 2, 2008, pp. 81-91 FOREIGN EXCHANGE RISK MANAGEMENT PRACTICES - A STUDY IN INDIAN SCENARIO Sathya Swaroop Debasish Department of Business Management Fakir Mohan University Vyasa Vihar, Balasore - 756019 Orissa, INDIA ABSTRACT Indian economy in the post-liberalisation era has witnessed increasing awareness of the need for introduction of various risk management products to enable hedging against market risk in a cost effective way. This industry-wide, cross-sectional study concentrates on recent foreign exchange risk management practices and derivatives product usage by large non-banking Indian-based firms. The study is exploratory in nature and aims at an understanding the risk appetite and FERM (Foreign Exchange Risk Management) practices of Indian corporate enterprises. This study focusses on the activity of end-users of financial derivatives and is confined to 501 non-banking corporate enterprises. A combination of simple random and judgement sampling was used for selecting the corporate enterprises and the major statistical tools used were Correlation and Factor analysis. The study finds wide usage of derivative products for risk management and the prime reason of hedging is reduction in volatility of cash flows. VAR (Value-at-Risk) technique was found to be the preferred method of risk evaluation by maximum number of Indian corporate. Further, in terms of the external techniques for risk hedging, the preference...
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...The Evolution of Leadership style of the new generation. In a global study involving 389 leaders from 28 countries, The Centre for Creative Leadership (CCL) found that 83% of the leaders surveyed believe that the definition of effective leadership has changed in the past five years. These changes to leadership styles can be attributed to a combination of issues including a shift in people’s attitudes as well as advances in technology. There is an imperative for leaders of organisations, including HR Managers, to plan ahead and adapt to the movement of these evolving trends to ensure the best outcomes for their organisations. The move has shifted from Authoritarian leaders who believed in top-down management, strict rules and exact orders, to a progression into white collar careers with more individualised thinking and individual ownership over tasks. It was here that participative leadership styles settled in, and this style is now one of the most common leadership styles in contemporary society. Changes in leadership styles can be seen across Asia-Pacific too as a Harvard Business School Professor explains that, “As Asian companies seek access to world capital markets, they will move toward professional managers who will employ leadership styles more akin to those now used in the United States” . The participative style of leadership management is where the group is central to the decision making process, and not the leader alone. The work environment is more flexible and...
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...Dilemma/ Struggle of Established Firms……………………………………………………………3 Rules for Innovation………………………………………………………………………………….4 Building An Ambidextrous Organization………………………..…………………………………6 Conclusion and Recommendations………………………………………………………………….8 Reference……………………………………………………………………………………………...9 Appendix…………………………………………………………………..………………………...12 “The Breakthrough” One dictionary definition of breakthrough is: "a significant and dramatic overcoming of a perceived obstacle, allowing the completion of a process." But what really makes an innovation a breakthrough (radical, disruptive) one, rather than incremental, from a marketing point of view? According to Boston Consulting Group report, breakthrough innovations are defined as “innovative products that offer consumers significant new benefits through advances in technology, formulations, or applications or through more convenient packaging (Boston Consulting Group (BCG): A Disciplined Approach to Breakthrough Innovations). Christensen (1997) argues that a necessary condition for an innovation to be disruptive is that it “captures new markets in an original and unexpected way.” Academics of marketing literature differ in their opinion about a relationship between a significant new technology and disruptive innovation. Some authors believe that radical innovation goes hand-in-hand with a significant new technology (Veryzer et al. 1998, O’Conner et al. 1998). Although the notion that significant new technology is an unavoidable...
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...1 LESSON- 1 ENTREPRENEUR AND ENTREPRENEURSHIP Dr. Jyotsna Sethi STRUCTURE 1.0 Introduction 1.1 Objectives 1.2 Entrepreneurship as a Career Option 1.3 Concepts and Definitions 1.3.1 Entrepreneur 1.3.2 Entrepreneurship 1.3.3 Enterprise 1.3.4 Difference between Entrepreneur and Entrepreneurship 1.4 Role of Entrepreneurship in Economic Development 1.4.1 Entrepreneurship and Economic Development 1.4.2Entrepreneurship and Education 1.5 Functions of an Entrepreneur 1.6 Innovation 1.7 Risk and Uncertainty Bearing 1.8 Organization 1.9 Functions Performed by an Imitator Entrepreneur 1.10Entrepreneur vs. Manager Relationship 1.11 Summary 1.12 Glossary 1.13 Self-Assessment Questions 1.14 Further Readings 1.0 INTRODUCTION Do you know that there are millions of unemployed youth in the country and by the time you graduate, this number would have increased substantially? Do you want to be part of that group which keeps knocking from pillar to post, checking with employment exchanges, relatives, friends, and neighbours and still not able to get a job to their liking and then settle for a second or third rate job? You can also choose to be like Mr. Patel of Nirma who was a chemist’s assistance and has a Rs. 2500 crore company today. Did you know that the original Mr. Bata was a cobbler? And now has stores in more than 30 countries all over the world. Or...
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...Strategic Midterm 2 Review Ch.5 Five Generic Competitive Strategies -There are several basic approaches to competing successfully and gaining competitive advantage, but they all involve giving buyers what they perceive as superior value compared to rivals. -competitive strategy deals exclusively with the specifics of management’s game plan for competitng successfully. -Two biggest factors that distinguish one competitive strategy from another 1)whether company’s market target is too board/narrow 2)whether the company is pursuing a Competitive advantage linked to lower costs or differentiation. -these two factors give rise to 5 competitive strategy options 1)a low-cost provider strategy-striving to achieve lower overall cost than rivals 2)a broad differentiation strategy-seeking to differentiate product/service from rival 3)a focused low-cost strategy-concentrating on narrow buyer segment& competing rivals by lower cost thus serve niche members at low price 4)a focused differentiation strategy-concentrating and outcompetiting rivals by differentiation 5)a best cost provider strategy-giving customers more value for the money by satisfying buyers’ expectations on key quality…etc while beating their price. Hybrid of low cost and differentiation. -a company must decide which five basic strategies to employ. LOW COST PROVIDER STRATEGY -two options 1)use lower cost edge to underprice competitotrs and attract price sensitive buyers 2) maintain present price and use lower cost...
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...Introduction This paper examines the growing phenomenon of organizational culture. What is it? Why is it important? How has it changed and why? How can an organization establish or change their culture? I hope to answer all of these questions and leave people with a better understanding of the concept and what factors create a strong organizational culture in today’s workforce. What is Organizational Culture? Organizational culture is not a new concept. It has been in existence since the emergence of the business world. However, it is only relatively recently that it has been identified, and executives have taken notice and made it a priority. The culture of an organization can be compared to the personality of a human being (Chegini, 2010). Culture is the essence of what an organization represents, who they are, what they stand for, what they believe in, and what is important to them. One of the better, and simpler, definitions of organizational culture I found is “the shared values and assumptions that guide behavior in an organization” (Çakar, 2010). The fundamentals of corporate culture can include a company’s values, employee expectations, customs, factual or mythical organizational history, language, climate, etc. In some cases, organizational culture is designed and employees are encouraged and expected to achieve it. On the other hand, culture may also develop over time from the attitudes and mentalities of employees. An organizational vision and mission...
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...‘Nature of work and organizing work in firms of the future’ Introduction Sweeping political, economic, social, and technological transformations are creating a fundamentally new era of business characterize by unprecedented complexity and rapid change. Large number of firms are struggling to stay afloat in this dynamic and intensely competitive environment, and the accepted ways of doing business are proving inadequate for doing business in future. At the same time, advances in information technology, coupled with emerging insights on organizations and the learning process, are greatly enhancing the ability of people to communicate and coordinate with one another both within and among organizations. These advances offer powerful new tools for dealing with the pressures of the business environment as well as promising a framework for creating entirely new opportunities for organizing and managing work in firm of future. Few people foresaw the vast changes that would be brought by the invention of the steam engine and the host of other mechanical devices that were the technological driving force behind the Industrial Revolution. Yet these advances completely transformed the nature of work as many of the old ways of organizing and managing business died away and new concepts emerged. The network of crafts and small cottage industries that had dominated the production of goods for centuries gave way to large centralized factories, and the concept of mass production not only opened...
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...– plenty of credit card providers, for example, understand a customer’s value potential, can track spending patterns and make targeted offers. Yet, many still send customers multiple product offers in the hope that something will stick. And few can analyze a customer’s deposit account, see that his salary deposit has increased, and send a note congratulating the customer on his or her promotion together with an offer of a premium card and a higher credit limit. What business are banks in if they are not in the banking business? Put simply, retail banks are in the business of helping people, communities and enterprises achieve their financial goals. The public’s trust in banks as British institutions has plummeted over the last generation, with public opinion polls charting a sharp drop in respect for the banking industry since 2008’s financial crisis. This disengagement and erosion of trust has been exacerbated by a diminishing need for customers to visit branches and engage with bank staff directly as the use of online banking has increased. A PWC survey looking at banking in 2020 indicates a growing awareness, but a significant gap in preparedness. Sixty-one percent of bank executives say that a customer-centric business model is ‘very important’, and 75% of banks are making investments in this area (this pattern is consistent globally). Yet only 17% feel ‘very prepared’. What business are banks in if they are not in the banking business? Put simply, retail...
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