...is a widespread term and in the business world you will hear the words “value added” or “value creation” thrown around. Everyone tells you they can “add value” or that they want to “create value”. But what is value? How is value created? In the following some of the definitions for the term “value” are mentioned. First of all, the different values are to mention such as personal values, which are the beliefs, principles or ideas important to you in your life- often things you are for or against, what you believe in and what you are willing to support and stand up for. (wire.wisc.edu). Moreover, value in economic terms can be, according to many business dictionaries, explained as the performance of action that increases the worth of goods and services or even a business. According to Kotler, Armstrong &Wong, 2010 value is created in order to satisfy the customers´ needs and wants. Irrespective of the different definitions of personal and economic values it is important to keep in mind that value can be interpreted differently by every individual, interest group or business and it remains a term in many contexts. Starting the research assignment every student wrote down everything they relate to their personal core-values and everything he or she connects with emotions....
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...What is entrepreneurship? Introduction Entrepreneurship is also known as helping to create healthy and profitable competition in the market, but what is the entrepreneurship? There is no standard answer. The purpose of this article is to defining the entrepreneurship by integrating the existing theory. At first, reviewing the origin of entrepreneurship, nothing generated without reason, critically analyzing the origin will promote to understand the meaning of entrepreneurship. Secondly, defining entrepreneurship by combine the different theory and taking examples to support definition. The origin of entrepreneurship Entrepreneurship was developed from “entrepreneur”, with the development of economic, how to operate a firm and how to do better than a chief executive officer was consider in 16th century, economists made attempt to study in depth about chief executive officer and come up with “entrepreneur”. Although at that time, this word “entrepreneur” was not existent, economists still realized this phenomenon and tried to describe it. As a factor in microeconomics, entrepreneur, was study by several scholars and until the 1723, this word was represented by Cantillon (Muljadi Paul, 2000, p.5). The economic development promote to establish a company, therefore, the word “entrepreneur” was born. Cantillon (1755) indicated that entrepreneur is a risk taker and profit taker, they try their best to make profit by grabbing the opportunity. Cantillon was a pioneer of study entrepreneur...
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...Marketing Definition Paper University of Phoenix MKT/421 - Marketing June 6, 2011 Marketing Definition Paper In this paper, I will provide my personal definition of marketing, and definitions from two different sources. Based on these definitions, I will explain the importance of marketing in organizational success, providing at least three examples from the business world. My personal definition of marketing is the promoting of products or services in such a way to make them desirable to the public. Marketing is satisfying the needs of customers, and creating the environment that products or services appear valuable. BusinessDictionary.com defines marketing as the management process in which services and goods progress from innovation to the customer. As a practice, it consists of four elements: selection, identification, and development of a product, price determination, distribution channel selection, and the development and implementation of a promotional strategy (Business Dictionary, 2010). MarketingPower.com defines marketing as the set of principles, and processes for creating, exchanging, communicating, and delivering offerings that create innovation for clients, partners, customers, and society (Marketing Power, 2007). Marketing is very important to business because it contributes greatly to the success of the organization. Distribution and production depend greatly on marketing. Sales and marketing are not the same....
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...1. INTRODUCTION The main aim of this paper is to investigate the success behind the companies which who succeed in entrepreneurship by new innovation and creation. This paper has two parts, first part explains about entrepreneurship by quoting some famous definition. Second part illustrates a short discussion about the examples that I choose to define the entrepreneurship the best. The examples that I select for doing this research is Nike and Apple the famous American multinational companies. The second part explains about the principles of entrepreneurship in relation to these companies. Last part illustrates the recommendation and conclusion that I reached at the end of this research. 2. WHAT IS ENTREPRENEURSHIP? According to < Coulter, M., (2003), 2nd Edition > Entrepreneurship involves creating change to adjusting, adapting and modifying one’s personal repertoire, approaches and skills to meet different opportunities available in the environment. The definitions of entrepreneurship help to obtain a clearer understanding of what is involved. According to < Morris 1998 > Entrepreneurship is concerned with unique combinations of resources that make existing methods or products obsolete which led to new innovation. Entrepreneurship is the skill and risk taking ability of an individual person or a group of people to combine the factors of production to produce a good or service < Kuratkao, D. F. and Hodgetts, R. M., (2007), Book -Entrepreneurship: Theory...
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...justifiable definition of entrepreneurship is a process through which individuals identify opportunities, allocate resources, and create value. This creation of value is often through the identification of unmet needs or through the identification of opportunities for change. Entrepreneurs see “problems” as “opportunities” then take action to identify the solutions to those problems and the customers who will pay to have those problems solved. One can judge entrepreneurial success of an entrepreneur as his ability to see opportunities in the marketplace, initiate change or take advantage of change and create value through solutions. “Innovation” as a word is often as a word under the context of simply a “new” product; however the true meaning of the word innovation is way more complex than just coming up with a new product. A business or an entrepreneur is not REALLY innovative if a random idea is turned into a reality. Innovation truly occurs when “change” is what the new product brings. In essence, there was a certain way people used to do things and with this “innovative” product, there is a new, different, probably easier way in which they do same things. Product offering, service, business model or operations: These areas widen the scope of innovation beyond the popular culture sense of it. Innovation can relate to a product offering, be it a brand new product built on a radical technology or a new feature. Service changes can certainly be innovations. Operational innovations can...
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...The full scope of management Management has different definitions, from different theorists. There are various ways of describing management, so in this assignment the different definitions of management would be discussed and we would also see how most of the definitions are similar, along with their functions. We should consider management look at why management is very relevant. We should see how the various views of these management theorists are similar and also if they contrast. Management, as defined, “is the activity of getting things done with the aid of people and other resources efficiently and effectively, it is a feature of most human circumstances; domestic, social and political, as well as in formally established organisations”(David Boddy, 2008, ps.10). We human beings perform different activities everyday such as; eating, drinking, playing and they are related to management etc. According to Mary Parket Follet, “Management is the act of getting things done through people. So management is an activity because a manager accomplishes his task or objective with the help of others and also directs these people in order to obtain his objective, so management achieves its objectives through people, so management is quite useful to people. In management there are various activities that are carried out. These include informational activities, decisional activities and inter-personal activities and all these activities are to be done by a manager. Management endeavours...
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...Introduction to Entrepreneurship Session 1 Olivier Witmeur September 2011 2 Desired outcomes of the session • • • • Introduce the course Tour de table What is entrepreneurship, what are the key constructs Who is the entrepreneur • AGENDA 1. Introduction 2. Course design and organisation 3. About entrepreneurs 4. What entrepreneurship is GEST-S547 - 2011-2012 © Olivier Witmeur 3 1. INTRODUCTION 4 What have these companies in common? • • • • • • • Delhaize , Colruyt, Leclerc, Sears & Roebuck Solvay, Pfizer, Yves Rocher Citroen, Renault, Ferrari McKinsey, Deloitte & Touche, JP Morgan McDonald, Neuhaus Dell, Hewlett-Packard Siemens, Dyson GEST-S547 - 2011-2012 © Olivier Witmeur 5 Examples of successfull entrepreneurs GEST-S547 - 2011-2012 © Olivier Witmeur 6 Entrepreneurship is … (3 minutes) GEST-S547 - 2011-2012 © Olivier Witmeur 7 La laiterie du Berger – Danone Latitudes GEST-S547 - 2011-2012 © Olivier Witmeur 8 2. COURSE DESIGN 9 Desired outcomes of the course • Understand why entrepreneurship matters • Introduce key-concepts and best practices in various settings • Develop your entrepreneurial mindset • At the end of the course each student must be able to: – Assess entrepreneurial opportunities in various contexts – Identify and master the main challenges associated with their exploitation – Understand when and where entrepreneurial management style is relevant ...
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...Abstract This essay is about the definition of entrepreneurial leadership. It also discusses the common elements and philosophies that aid in understanding the complexities and how it can be applied into today’s dynamic markets. How one’s leadership style or aspiration can be compared to the traditional and common leadership styles. As a new entrepreneur, the many resources that are available such as Small Business Administration (SBA) and SCORE can assist in the start up of their business/product/service. Finally, the personal principles in leadership is important because it engrains and reminds the leader in being focused on their vision and goals and their success is in combination by the support of their followers. The interest in entrepreneurial leadership has been an area that has been researched and theorized. Many theorists would vary in their philosophy of what constitutes or creates an entrepreneur leader. Many research findings proposed that entrepreneurs are innovative, motivated to achieve, and risk takers/ strategists. (1).What are the common elements theories/principles that relate to the new definition of entrepreneurial leadership in today’s dynamic market? Based on these theories what kind of leadership style I may apply or hope to become, the tools/resources as an entrepreneur, and the personal principles that I would choose to apply in leadership. To begin, we need to define the common elements in the theories/philosophies...
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...Trident University International ITM 433 Module 1 Case ITM 433 – Computer-Human Interaction Module 1: Why do we care about human-computer interaction? Case Assignment: Discuss the application of speech recognition as a tool for Human Computer Interaction Definitions Before getting too far into detail, here are some definitions this paper is based on. Human-Computer Interaction (HCI) is summarily, and loosly, defined as the interaction between people (users) and computers and can be referred to in several different manners. For instance; Computer-Human Interaction (CHI) or Human-Machine Interaction (HMI) are both virtually interchangeable with HCI. The phrase “speech recognition” is rarely, if ever, used outside the context of computer science. Speech recognition refers to the ability of computer-based software to convert spoken words into written (typed/digital) text. Together – HCI/CHI/HMI, etc., insert your acronym of choice but HCI will be used throughout this paper – HCI and speech recognition represent the present and rising future of end-user functionality. The next big thing will be the ability of computers or machines to read your mind instead of verbally instructing it to carry out your bidding… that is sarcasm, of course. However, this current reality of speech recognition software was not stumbled upon and did not happen by chance. A Short History The lever is widely regarded as the first “machine” “invented” and implemented by...
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...To individuate where innovation starts maybe is better to consider before what we mean with the word innovation. A lot of definition of innovation exist and it’s possible to simplify the innovation as “transforming an idea in something useful”, a “meeting between need and solution”. Thus, the innovation is a process and the input of this process is an idea, but not every idea can be the right input to innovate. The innovation starts inside the person. The right idea can born in every moment while you’re doing something else, while you’re thinking about something, while you’re trying to solve some problems in different ways, because you’re perceiving a new need or because you’re inspired by your obsession. A person is not able to innovate because...
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...Conclusion: Innovation Challenges in Established Firms Carolyn French Student ID: 5911458 American Sentinel University September 1, 2013 Instructor: Dr. Jacqueline Gilliard Abstract This research document explores several case points as outline in the introduction paragraph covering this weekly assignment exerted from the ASU Moodle web site and from some selected books and articles that are listed on the reference page. Also there is a series of case points under examination in the context of this research that are relate to these learning objectives which helps the reader to appreciate how some of today's most respected high-tech companies rose to prominence, then reinvented themselves once or more; to review the evolution of the personal computer industry, to obtain a glimpse of Intel's likely future as well as the future of the semi-conductor industry, and to outline approaches for building "learning organizations and lastly to appreciate the challenge of developing a complex-strategic-integration (CSI) capability through Intel and Apple Inc. case study reviews. Keywords: Innovation challenges in established firms, Intel and Apple Case Studies, Learning organizations Conclusion: Innovation Challenges in Established Firms Introduction In accordance with the Module 8 reading requirements and the textbook coverage’s from Strategic Management in Technology Innovation, Part Five on pages 1108 -1182. This research document will address specific questions that...
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...Stress Management Training: Facilitator’s Manual Learning Materials for “Helping Health Workers Cope,” a Project of Concern Worldwide’s Innovations for Maternal, Newborn, & Child Health and the Community Association for Psychosocial Services (CAPS) December 2012 Table of Contents Acknowledgements ...................................................................................................................... ii Disclaimer .................................................................................................................................... ii Use of Material ............................................................................................................................. ii Manual Development ................................................................................................................... iii I. Training Overview ................................................................................................................ 1 II. Introduction .......................................................................................................................... 3 III. What Is Stress? ................................................................................................................... 5 IV. How Do We React To Stress? ............................................................................................. 8 V. Exploring our Sources of Stress..............................
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...7.1 REVOLUTION Apple’s iPhone is an indirect result of the Industrial Revolution and tool for what I refer to as the Creative Revolution. The technology and production methods so common in the world today are all relatives of the original Industrial Revolution that was born in Europe. Creativity and innovation are key components in successful business and needed to solve many of our world’s problems. Tools for communicating ideas are important and can encourage new innovation from those who may not have otherwise been involved. The innovation that produced new technology two hundred years ago is still evident today in the amazing applications of technology brought to much of the planet’s population in the form of Rummler 2 personal technology devices we take for granted. As a tool for creativity, an iPhone offers many ways for the users to express themselves. If we only consider the ability to capture both still and moving images this creates the ability for anyone, anywhere to capture something and broadcast it out to multitudes of others for viewing, commenting and sharing. This outlet of personal expression offer someone who has never explored creativity an brand new understanding of their own abilities as well as a forum in which to develop them. In the past most of us did not make it out of kindergarten or first grade without feeling we were not one of the few and talented “artists” in class. In considering the value of supporting creativity, it is common...
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...Marketing has become a part of society and a huge part of the American culture; one has only to observe the timeless art of Andy Warhol and the iconic Campbell’s Soup Can at the National Gallery of Art in Washington, D.C. A personal definition of marketing is creating a product or service that fulfills a need and taking the idea from a concept to the kitchen table. Business Dictionary defines marketing as “the management process through which goods and services move from concept to the customer” (Business Dictionary, n.d.) as “the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners, and society at large” (Marketing Power, 2004). The definitions have ideas in common the most apparent is that marketing is a set of processes with the intention of bringing an idea to the public. Even though marketing is synonymous with selling and advertising, the actual intention of marketing helps to fulfill consumer need, keep business competitive, and create a higher standing of living for everyone. Meeting Needs The most important function of marketing involves meeting customer needs. An individual or company must solve a problem or fill a void that the public currently has. Corporations spend millions each year trying to do just that the department responsible is more commonly known as Research and Development (Perreault, Cannon, McCarthy, 2011). An example of research and development...
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...Michael Novak’s view on the History of Corporations This section of the paper discusses the history of the corporation, its origins and development as well as the various and definitions of the term stakeholder. This section also discusses the differences between various management philosophies and how each philosophy views the term stakeholders; a) the traditional American view of stakeholders as owners, b) the social democratic view where stakeholders have claim or stake in the firm. The American view is the foundation of freedom and liberty while the socialist view refers to the slavery and despotism. The Existence of Corporations The answer to the existence of corporations doesn’t refer to certain date or time. The actual existence of corporations refers to what one means by the term as the corporations have existed for several centuries. Surviving in the corporate world generated from the founding generations of farmers and fishermen, owners of land, churchman, etc (Jennings, 2012, p.105). Michael Novak viewed the corporation as a calling (Murphy, 2008) that generated from the business men who have ethical standards on what they were introducing to society. These ethical standards can be of good or evil. The society has great impact over big corporations. Society can make or break a business depending on the products introduced and how successful it can climb in the market (Jennings, 2012, p. 106). Many businesses grow based on their ethical views and how the market will...
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