Free Essay

Marketing Ideas

In: Business and Management

Submitted By danharris101
Words 1862
Pages 8
Daniel Harris 5/04/12 Community Report Theories on Wage Discrimination and Occupational Segregation Substantial research has been conducted proving that occupational segregation and wage discrimination still exist in today's society. Despite recent gains by women and minorities in the field of employment, other factors aside (such as skills, qualifications and education) women and minorities still fall behind men when considering pay and occupational choices. The consequences of such actions are that women are often concentrated in clerical and service jobs which overall result in less pay and opportunities for advancement. Blau, Ferber and Winkler (2001) point out that even though an almost equivalent number of men and women work in professional positions, men are still more likely to be concentrated in lucrative professions including law, medicine and engineering, whereas women are segregated into lower paying positions including teaching and nursing (p. 211). Several different theories lend credence and explanation to occupational segregation and wage discrimination forces. Some are more supply sided in nature while others depend more on institutionalized practices. Human and capital theory for example suggest that women generally anticipate "shorter and less continuous work lives than men" and are generally paid lower at the outset, thus have lower wage penalties for taking time off from work (Blau, Ferber and Winkler, 2001:213). The studies that will be most closely examined in this paper include theories along this line including neoclassical theory and theories opposing this viewpoint including the Institutionalist or Marxist idealisms related to economic theory. Blau, Ferber and Winkler (2001) suggest that occupational or labor discrimination occurs when "two equally qualified individuals are treated differently solely on the bases of their gender" (p. 202; Becker, 1971). This can occur from a variety of factors, and theorists have discussed labor market or economic factors as well as personal ones when evaluating segregation and discrimination. One can reasonably conclude that occupational segregation will adversely affect the economic status of individuals directly, particularly women, by producing differences ineconomic outcomes (Blau, Ferber and Winkler, 2001:202). The neoclassical theory of wage discrimination suggests that discrimination results more from individual actions and preferences than from organizational or institutionalized ones. Neoclassical economists and theorists consider wage discrimination as a form of how "individuals discriminate" and how that discrimination is subsequently "translated" into labor market outcomes (Giempetro-Meyer, 2000:1). Opposing this viewpoint is the institutional theory of discrimination which suggests that institutions in society have "rules and regulations that are discriminatory" even if individuals at those institutions personally do not discriminate (Giampetro-Meyer, 2000:1). A majority of the research conducted on wage discrimination thus far has focused on the direct effects of wage discrimination, including pay and occupational differences between equally qualified men and women (Blau, Ferber and Winkler, 2001:202). These studies indicate that over time, women still earn less than men. Female college graduate for example, are less likely to acquire high paying jobs then men (Shulman, 1992). One form of wage discrimination is wage depreciation, which occurs when a woman has lower "real" wages upon returning to work if she leaves for a period of time and is out of the labor force (England, 1984:727). Blau, Ferber and Winkler point out that the gap in wage differentials between women and men is relatively small at the beginning of most individual's careers; however, given that for the most part if men and women have equivalent qualifications, women still receive pay that is only 60 percent of that which men receive (p. 208). Some of these differences may be the result of choices that worker made, however even after accounting for differences that may be attributed to skill differentials, varying hours worked etc. men still make 13 percent more wages than men (p.208). Neoclassical theory suggests that discrimination can be costly under certain circumstances, and thus employers are discouraged from discriminating against women. This goes along with the idealisms that men and women make the choices that put them place them where they are. In an economy that is not monopolistic in nature, where competition is strong, discrimination is less likely. Important to note here is that individual discrimination may not stem from an employer only however, I may stem from customers. If customers have certain preferences or discriminatory idealisms, and the employer is working in a monpsony type environment where there might be only one customer for a product, than that customer likely has more influence that a variety of customers would (Blau, Ferber and Winkler, 2001: 224). England (1984) performed a study of occupational segregation generating from the neoclassical theory of human capital. In his work, he cites Polacheck who argues that segregation results because women who have intermittent employment maximize lifetime earning by choosing occupations with low deprecation' during the time that they might spend at home. He further argues that men and women choose positions that for financial reasons. Women make decisions that result in higher income early on, whereas men opt for positions that will have the potential for higher income later in their careers (England, 1984:726). Neoclassical economists might argue that segregation results from hiring discrimination that might be motivated from an employer's non- financial preferences (England, 1984:726). Marxist theory slightly differs suggesting that occupational sex segregation is a tool for capitalists use to "divide and conquer workers" and suggest that economic factors including the desire to raise capital play a primary role (England,1984). Marxian and institutionalist economists are more similar in nature and thus the two are compared together. The idealisms associated with Marxist or institutionalist theory are very different from neoclassical theory. Institutionalist or Marxist support the notion that economics is an "interpretive, historically conditioned discipline" which generally opposes the "empiricism and rationalism" that is more often synonymous with neoclassical theory (Shulman, 1992:1). Women and certain ethic groups face the potential for occupational segregation and wage discrimination (lower wages). The trend seems to be universal, not limited to individuals working in the United States. A study conducted of average gross annual earnings of full time employees in Great Britain for example, showed that regardless of the position an individual worked in, men continuously earn more than women (RHUL, 2003). Though many differences can be explained by historical factors, culture, skill and labor supply, inequalities still exist outside of these factors. Neoclassical theories tend to suggest that preferences or prejudices and statistical information relate to discrimination and segregation. The primary differences between neoclassical theories and Intitutionalist related to both occupational segregation and wage discrimination are outlined in the chart below. Gender preferences may indeed play some role in occupational segregation between men and women. Institutionalist theory would primarily support the notion that institutionalized difference play a role in occupational segregation. For example, historically men have come to expect higher wages, thus an organization should automatically assume that then need to pay male workers more than female worker for the same job. Thus a firm might expect to pay women less for performing the same job. This is not a result of individualized discrimination, but rather a result of historical practices that have become the standard rather than the exception to the rule. Becker points out that an organization will higher a woman only if the cost of hiring a woman is less overall than the cost of hiring a man (Blau, Ferber and Winkler). Neoclassical theorists would suggest that historically women have made choices that have influenced the types of jobs that they come into. They choose to enter fields that pay lower overall than men. Some of their choices might be related to their preference for working fewer hours than men. The true answer is perhaps a combination of the two. Personal preferences likely do have some impact on an individual's selection for future wage potential and occupational success. However, if you take two people, a man and a woman, raise them exactly the same, give them the same credentials and identical skills, it is still very likely that the man will end up in a position with greater potential for high wages over time than females. This can be attributed to institutional factors. Changes to institutional factors are slow in coming, and often require major interventions from authoritative figures. Thus, one must examine the question: should women consider working in self employed occupations only in order to completely avoid wage discrimination and occupational segregation' The neoclassical theory would support the idea that by doing so women will ultimately realize equivalent success. Because individual behaviors and personal decisions under neoclassical theory suggest the potential for success, a woman setting out on her own would likely do well if the right choices are made. Unfortunately, the Marxist or institutionalized economic theorists might point out that because segregation and discrimination are institutionalized, discrimination might still occur. For example, a largercorporation might be more willing to conduct business with a male self employed business owner than a female business owner. This would be an interesting venue to examine in the future. Women might be more likely to realize personal satisfaction if they are self employed. Self employed women may be just as likely to pursue endeavors that will result in higher profit margins as men would in this type of environment. Research has steadily shown that segregation and wage discrimination still are common against women in the United States and abroad. Depending on the school of though, these differences may be attributed to individual preferences or institutional considerations. The reality is however, that a combination of both exists. Institutionalized factors for example, may influence women's personal preferences to select lower paying occupations or those occupations in certain fields including clerical and service oriented positions. Neoclassical or supply sided theories might undermine the importance of the influence the labor market has on the roles and personal decisions women make related to their careers. Likewise institutionalized theorists may neglect to consider their impact on personal preferences. One cannot happen without affecting the other. For example, institutional practices that are discriminatory in nature may serve to reinforce traditional gender roles and idealism's held by men and women. One the same note women's and men's personal choices and preferences may also reinforce cultural and institutional norms. Thus as Bauer, Ferber and Winkler suggest a vicious cycle commences, whereby segregation and discrimination continue. Women may indeed be better off in self employed positions. One thing that may be concluded is that without official intervention, change is likely to be slow in coming.

Bibliography:
Paula S. Rothenberg. Race, Class, and Gender in the United States. 8th edition Becker, G.S. (1971). "The Economics of Discrimination, 2nd ed. "Chicago: University of Chicago Press."
Blau, Ferber and Winkler. (2001). "The Economics of Woman, Men, and Work, 4edition." Prentice Hall England, P. (1984). "Wage Appreciation and Depreciation: A Test of Neoclassical Economic Explanations of Occupational Sex Segregation." Social Forces, Vol. 62 Giampetro-Meyer, A.M. (2000). "Recognizing and Remedying Individual and Institutional Gender Based Wage Discrimination in Sport."
American Business Law Journal, Vol. 37 Shulman, S. (1992). "Metaphors of Discrimination: A Comparison of Gunnar Myrdal and Gary Becker." Review of Social Economy, Vol. 50 RHUL. (2003). "Discrimination." {Online}Available:

Similar Documents

Premium Essay

Product Idea for a Marketing Plan

...download on their phone to activate the sensor. The app will connect to its own network so parents wouldn't need to worry about losing reception at places where their cell phone network doesn't reach! This LDS, kids can wear or carry and parents can have a sigh of relief that their kids are safe wherever they are by keeping track on their location. This paper as mentioned above describes the product and its functionality that The PN Company has come up with. It is located in Manchester, NH. This company aims to design and develop the LDS. PN understands that marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return . Following are the goals that the company would like to achieve : • Understand the market place and customer needs and wants • Design a customer-driven market strategy • Construct an integrated marketing program that delivers superior value • Build profitable...

Words: 713 - Pages: 3

Premium Essay

Great Marketing Ideas (100 Great Ideas) (2010)

...100 Great Marketing Ideas from leading companies around the world Jim Blythe 100 GREAT MARKETING IDEAS FROM LEADING COMPANIES AROUND THE WORLD Jim Blythe Copyright © 2009 Jim Blythe First published in 2009 by Marshall Cavendish Editions An imprint of Marshall Cavendish International 1 New Industrial Road, Singapore 536196 Other Marshall Cavendish offices: Marshall Cavendish Ltd. 5th Floor, 32–38 Saffron Hill, London RC1N 8FH, UK • Marshall Cavendish Corporation. 99 White Plains Road, Tarrytown NY 10591-9001, USA • Marshall Cavendish International (Thailand) Co Ltd. 253 Asoke, 12th Flr, Sukhumvit 21 Road, Klongtoey Nua, Wattana, Bangkok 10110, Thailand • Marshall Cavendish (Malaysia) Sdn Bhd, Times Subang, Lot 46, Subang Hi-Tech Industrial Park, Batu Tiga, 40000 Shah Alam, Selangor Darul Ehsan, Malaysia Marshall Cavendish is a trademark of Times Publishing Limited The right of Jim Blythe to be identified as the author of this work has been asserted by him in accordance with the Copyright, Designs and Patents Act 1988. All rights reserved No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the copyright owner. Requests for permission should be addressed to the publisher. The author and publisher have used their best efforts in preparing this book and disclaim liability arising directly and indirectly from...

Words: 42218 - Pages: 169

Free Essay

Creative Marketing Ideas for Restaurants to Boost Sales

...Creative Marketing Ideas for Restaurants to Boost Sales 1. Market To Specific Demographics Each neighborhood or community has a specific majority demographic that will frequent restaurants on a regular basis. Target this majority demographic with your marketing efforts in some way to reach the most amount of people possible. 2. Be Current If you’re restaurant is stuck in 1992 in any way, you’ll be driving your customers away, one by one. Make sure you get your interior updated to be fresh and inviting, make your menu match, and understand what the price point is that your community can support. 3. Be Functional More people use the internet to research your restaurant more than any other method today. If you don’t have a useful website that gives people the information they need to know, you won’t get their business. From menus to ingredients to pricing information, even a simple map with directions to find you may be the one missing thing you need. 4. Get To the Top Implementing an effective SEO plan for your website is one of the most effective ways to get noticed. It’s not just about having specific keywords on your website or having a phone number – you need targeted, local content that will drive local searches to your cuisine first. 5. Have a Great Food Blog Restaurants ultimately need to establish value in some way for people to engage with them. One of the...

Words: 891 - Pages: 4

Premium Essay

Chocoberry Analysis

...There are many different ways to generate ideas. You can use the problem-based concept generation. Using this format, the idea is generated because a problem exits. Using internal company records, input from technical and marketing teams, and most importantly, customer feedback, the problem is identified, and ideas are generated that may be a solution to the specific problem. Although this is a great way to generate ideas, it is not the ideal format for Chocoberry. Chocoberry’s ‘problem’ is an internal one. They want to expand their market and reach customers, as opposed to dealing with just businesses. For this reason, there is no problem they are trying to fix. They are simply trying to come up with a new idea, so problem-based concept generation is not ideal in this situation. One of the most popular methods for idea generation is brainstorming. There are several different options when brainstorming, which eventually lead to the same end result- a concept for a product. Some of the methods of brainstorming include the traditional brainstorming circle, brainsketching, speedstorming, electronic brainstorming, Phillips 66 groups, and the Delphi method of brainstorming. All methods have pros and cons associated with each. One of the most relevant cons associated with brainstorming is the bazooka effect. The bazooka effect occurs when an idea is presented during brainstorming, and someone else shoots it down without even considering it (142). This can cause the participants...

Words: 1156 - Pages: 5

Premium Essay

The 25 C's of Innovation

...bridge over what might otherwise feel like a sea of unwieldy or unpackaged information. Maybe we were taught to do this in primary school or maybe the method is really useful to retain data more easily. The fact is that acronyms and letter bundles came to stay in the teaching/learning process, and we have many of them rolling in our minds since long ago. Maybe you are thinking in the famous 4 P’s of marketing right now! One of the strongest examples of a letter bundle is precisely the 4 P’s of Marketing that E J McCarthy popularized in 1960 for the marketing mix, and which has been widely accepted by academics and practitioners around the world ever since. The 4 P’s of Marketing were later changed to 4 C’s because Bob Lauterborn, professor of advertising at the University of North Carolina, thought the C was a better way to think about a marketing mindset. He dared to propose his new approach to the marketing mix, but stayed within the letter packages information-delivery method. Which is my point for this occasion. 4 P’s of Marketing, 4 C’s of Marketing, 7 P’s of Service Marketing, 5 S’s of Kaizen in Continuous Improvement, 5 C’s of Business Credit or any discipline you might be interested in may have a letter bundle like these mentioned. Who knows? Maybe we really think we are more intelligent every time we memorize a set of letters to describe a concept. Just to keep the tradition, I want to point out that Innovation has its letters bundle too. And it’s actually the addition...

Words: 1322 - Pages: 6

Free Essay

Definición de Mercadeo

...Definición de Mercadeo Marketing MKT/421, Version 11 Junio 06, 2012 Definición de Mercadeo Definir el mercadeo no es una tarea sencilla, pero una manera sencilla de definirlo es “el mercadeo lo es todo”. La mayoría de las personas piensan que el mercadeo es simplemente el crear anuncios. Aunque no están lejos de la realidad ya que eso una parte de las cosas que se hacen el esta profesión, pero mercedo es mucho más que promoción. En este escrito veras diferentes tipos de definiciones sobre el mercadeo. Basándonos en esas definiciones estaremos explicando la importancia del éxito del mercadeo organizacional. Además le brindaremos tres ejemplos que van acorde con el éxito organizacional. La definición de mercadeo es bien básica es el movimiento del producto del manufacturero o productor al consumidor. Pero en palabras más intensas The American Marketing Asociation sugierio desde su fundacion en 1985. Que la definicion de mercadeo es “the process of planning and executing the pricing, promotion, and distribution of goods, ideas, and services to create exchanges that satisfy individual and organizational goals” (Sevier, 2005) pero para el año 2004 la AMA por sus siglas en ingles indico que la definicion aprobada y aseptada por ellos es “Marketing is an organizational Junction and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.”...

Words: 852 - Pages: 4

Premium Essay

Postgraduate

...Session 1 MT5006 Jim White      Introductions Product Development Overview Break Project Descriptions Team Activity 30 min 45 min 10 min 20 min 60 min  PhD in Electrochemistry from UT Austin (1985)  IBM:  Research and Development (1985 ‐ 1992)  3M (1992 – 2011)    ◦ Semiconductors for Solar Energy Conversion ◦ T J Watson Research Center ◦ ◦ ◦ ◦ DFSS Master Black Belt Electronics Business Technical Director for APAC (Shanghai) 3M Taiwan Technical Director (Taiwan) Electronic Solutions Global Technical Director (Singapore) Adjunct Professor NUS Department of Engineering &  Technology Management Founded JRW Consulting (www.jrwconsulting.com.sg)  (2011) Enjoy distance running, diving, hiking, photography  To prepare you for making business decisions,  for new businesses, products and services, by  providing you with the necessary knowledge  and tools. The Basics Technology &Design The Business Sessions 1‐4 Sessions 5‐8 Sessions 9‐13 NPI Systems QFD Intellectual Property Stage Gate Robust Design Business Models Lean NPD Data Analysis Finance Market Assessment Prototyping Value Chain Predictive Engineering Project Management Technology Planning Portfolio Management Customer Engagement   We meet every week from 6 – 9 pm.  Be on time!! Each week consists of  ◦ Quiz or discussion of projects or case studies ◦ Le...

Words: 1865 - Pages: 8

Free Essay

La Nación a Través de La Lupa Marketinera

...¿El diario La Nación elabora campañas de marketing o sólo se avoca a la elaboración de piezas informativas? ¿Puede el periodismo convivir con actividades publicitarias y así lograr que las diligencias empresariales sean más rentables? ¿De qué manera? Te presentamos La Nación a través de la lupa marketinera. Hoy en día, cada vez más empresas hablan de estrategias de marketing, de acciones “marketineras” o de planificaciones de mercadotecnia. De hecho, pareciera que fuese un concepto del que ninguna corporación puede prescindir si su objetivo es alcanzar el éxito económico. Sin embargo, muchas personas se preguntan, en definitiva, de qué se trata. Según Alfonso Nieto, autor de La empresa informativa, el marketing informativo es un conjunto de actividades organizadas para difundir mensajes a través de productos de información, que promuevan o favorezcan relaciones de cambio de ideas y de intereses tangibles, en beneficio de personas o instituciones. En síntesis, se trata de acciones que contribuyen a establecer vínculos favorables respecto a un individuo o empresa y que, en última instancia y tratándose de instituciones, ayudarán a aumentar las ventas. En el caso del diario La Nación, hay distintas actividades de marketing las cuales se podrían clasificar como promoción de ventas ya que están encaminadas a favorecer directamente el prestigio, la popularidad, el uso o el consumo del producto informativo. Una de ellas es la oferta de coleccionables que se pueden adquirir...

Words: 626 - Pages: 3

Premium Essay

Innocent Case Study

...Innocent 1. Even thought the “Innocent company” appears to be different, care-free and fun-loving it has some more serious traits under the whole cover. The fact that it is single- minded could be understood from the fact that they firmly believe that they do not need marketing in order for people to notice then and start buying their products. They live by the idea that the word of mouth will occur and that people will spread the brand’s name. Event the situation where they still decided to launch the product without preservatives even thought they had a lot of talks that their idea will not work. What is more, the trait that it is profit driven could be understood from the stated fact that they do not spend a lot of money for marketing, market research or advertising with extravagant labels or appearances. They do however think up of new smoothie ideas that keep the customers interested and wanting for more. And that sure does get the profit to rise. Last but not least, the company is business oriented, it is seen from the fact that the creators had the idea of the new product way back when they were still in their universities. They kept their ideas and stuck to them till they came out to be reality. 2. One of the main most important steps towards the success of extremely good communications with the retailers is to keep in touch with them on a regular basis. They should understand and feel that they are acknowledged, treated well, and needed by the company because...

Words: 494 - Pages: 2

Free Essay

Campaign on Drinking and Driving

...Media Specialist, Marketing Director From: Xxxx Date: May 20, 2012 Subject: Recommendation for campaign on drinking and driving I will try and address all the concerns sequentially. Since we have a tight budget, we do not have much space for trial and errors. Overall, driving most of the campaign online is a good idea. Also, collaborating with the colleges to help in our research will be helpful and less costly. Most of the concerns of the board member are valid. I would suggest an online questionnaire targeted at certain colleges as a cheap and effective solution for getting to know their mindset. Another suggestion would be to make it anonymous. Not tracking user information will allow for a more candid feedback. A carefully crafted questionnaire needs to be created for this. A suggestion box for possible ideas for the campaign from them can also be kept in the questionnaire. I agree with the concerns of the Social media specialist, targeting messages on websites like Facebook and Twitter is a good idea. Identify some of the most subscribed groups on Facebook. Create a Facebook page for our campaign. This page can be linked to those group pages identified before. This will allow us to post to multiple groups at once. Requesting some referral posts on our campaign from these Facebook groups is also a good idea. This will help in creating a better impact at minimal cost. I agree with the Marketing Director that driving the campaign online is a very good idea. As for the places...

Words: 423 - Pages: 2

Free Essay

Studying Marketing

...As a marketing student, we are always told that we have to know what customers want and then satisfy them. But Economic tells us human wants are unlimited. Therefore, creativity is the essence of satisfying infinite desires that seem to be impossible. Obstacle of achieving career goal Studying Marketing is one of my dreams. This career goal was set during the secondary school years. As I like thinking new ideas, I think this study field is quite suitable for me. Also, I enjoy presenting ideas in front of others and I like interacting with different people, my teachers and family members support me to choose this stream very much. However, one obstacle appeared at that time. My public exam result was very bad that I could not be promoted to university degree. At that time, I thought my dream was over and my life had come to an end. Of course, facing failure in public exam is not easy for me. Even though I knew that there are several paths to enter university, this strike affected me a lot. After entering HKCC, I further knew about myself and my interest. I was surer that I chose the right career path. And as I have lost a chance to enter university, I treasure every opportunity to train myself and get ready to compete with others. I got well prepared by having deeper understanding of the real world situation. So I am ready to face any challenge that may be encountered in these few...

Words: 254 - Pages: 2

Free Essay

Caso Starbucks

...Fundada 1971 por tres amigos inspirados en el arte y la calidad del café ubicada en Pike Place Market donde vendían granos de café tostado y especias. Fue hasta 1984 que se empezaron a servir bebidas con la incorporación de Howard Schultz, vendedor de una empresa proveedora de la tienda de Pike Place como Director de Operaciones de Venta y Marketing. En esa época el sector de cafeterías en Estados Unidos estaba compuesto de establecimientos pequeños donde ofrecían una taza “sin limite” de café y servicio a la mesa, pero el ambiente no invitaba al usuario a pasar largos periodos de tiempo en el lugar. Debido a esto Starbucks fue pensado con el concepto de compartir un buen café con clientes interesados en el estilo europeo del mismo y es precisamente dicho concepto la clave de su éxito: “ una experiencia en la compra de un café Premium, con servicio especializado en un ambiente acogedor”. Starbucks reoriento el concepto de su sector siendo entonces el cliente quien haría fila para pedir su bebida, sin menús de comidas, ofreciendo bebidas gourmet hechas al momento y al gusto del consumidor. Es aquí donde radica su cadena de valor de mercado, no solo se vende café en grano ni una simple bebida, se vende entretenimiento, experiencia al consumidor; un lugar donde relajarse teniendo una variedad de productos que varían desde bebidas, comidas, música, libros, películas, productos envasados, etc. Para Starbucks, a diferencia de otras compañías la estrategia de venta esta basada...

Words: 1041 - Pages: 5

Free Essay

Solve a Problem

...creative thinking, thinkers continuously find challenges and multiple ideas that create solutions for these challenges. Determining what the most effective solution to the challenge is may take a varied amount of time but because creative thinkers are so dedicated, they will keep striving to meet their goal. The personal challenge search effectively demonstrated all areas of the creative thinking process from beginning to end. Creative thinking is not just an art form; it is a process that requires hard-work and dedication from independent individuals who strive to find the best possible solution to a challenge. Creative Thinking Process The creative thinking process consists of four steps which break down the different essential areas that cover all aspects of the process, from beginning to end. Creative thinkers have character traits of boldness, resourcefulness, independence, are generally dedicated hard workers. Each step of the creative thinking process is routine for creative thinkers because they know until one step is completed the next cannot commence. Step 1 Many times issues and problems are present within everyday life even when creative thinkers are not searching for challenges. Some challenges are apparent and some are more concealed than others. Some challenges can be solved rather quickly while others may take days, weeks, or even years of research, testing, creation of ideas and solutions before the goal of the challenge is actually mastered....

Words: 1229 - Pages: 5

Premium Essay

A New Approach to Innovation

...2006 PREMISE Procter & Gamble launched a new line of Pringles potato crisps in 2004 with pictures and words—trivia questions, animal facts, jokes—printed on each crisp. They were an immediate hit. In the old days, it might have taken us two years to bring this product to market, and we would have shouldered all of the investment and risk internally. But by applying a fundamentally new approach to innovation, we were able to accelerate Pringles Prints from concept to launch in less than a year and at a fraction of what it would have otherwise cost. Here’s how we did it. Back in 2002, as we were brainstorming about ways to make snacks more novel and fun, someone suggested that we print pop culture images on Pringles. It was a great idea, but how would we do it? One of our researchers thought we should try ink-jetting pictures onto the potato dough, and she used the printer in her office for a test run. (You can imagine her call to our computer help desk.) We quickly realized that every crisp would have to be printed as it came out of frying, when it was still at a high humidity and temperature. And somehow, we’d have to produce sharp images, in multiple colors, even as we printed thousands upon thousands of crisps each minute. Moreover, creating edible dyes that could meet these needs would require tremendous development. Traditionally, we would have spent the bulk of our investment just on developing a workable process. An internal team would have hooked up with an ink-jet...

Words: 2136 - Pages: 9

Premium Essay

Business Model

...entrepreneurs, business ideas come from the rich opportunities and logical, and could eventually evolved into a business model. The formation of the logic is: opportunity is passing through the creative resources portfolio clear the possibility of market demand (schumpeter, 1934; Kirzner, 1973), market demand is not clear or not by use of the resources or capabilities. Although it first appeared in the 50 s, but it was not until the 90 s began to be widely used and spread, has been hanging in the mouth of the entrepreneur and venture investors a noun. Have a good Business Model, guarantee have half the success. Business model is the company through what way or ways to make money. In short, the beverage company to make money by selling drinks; Express company to make money by delivery; Internet companies through the click rate to make money; Communications companies by receiving spending money; The supermarket through the platform and storage to make money, and so on. As long as there is place of making money, there is a business model. Along with the market demand is becoming more and more clear and increasing resources accurate definition, an opportunity to beyond its basic form, gradually evolved into the creative concept (commercial), including how to meet the market demand or core resource allocation plan. With their own ascension of the concept of business, it is more complex, including the product/service concept, the market concept, supply chain/marketing/operations concept...

Words: 520 - Pages: 3