...businesses to reduce startup costs, test the market, and improve viability. Historically tech startups would begin with an idea, create the product or service, seek large amounts of funding, and then bank their entire company on one grand launch with hopes of instant success. With Ries’ model startups now create their minimum viable product, test various aspects of the product on a small portion of the target market, analyze feedback, and pivot their product accordingly. On a macro level the lean startup teaches that entrepreneurship can be a personality trait but more so a characteristic that all humans posses. The desire to innovate, create, and experiment is something that is built into our very existence. Furthermore entrepreneurship is management, meaning that it must be a...
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...Knowledge Management ▪ Ancient ▪ Collaboration at the organizational level ▪ Could revolutionize collaboration and computing Helps organizations ▪ Identify ▪ Select ▪ Organize ▪ Disseminate ▪ Transfer Important information and expertise within the organizational memory in an unstructured manner Knowledge ▪ Understanding gained through experience or study ▪ Know-how or familiarity with how to do something ▪ Information that is contextual, relevant, and actionable ▪ Accumulation of facts, procedural rules or heuristics ▪ Knowledge is INFORMATION IN ACTION ▪ Actionable (relevant) information available in the right format, at the right time, and at the right place for decision making (TIWANA2000) ← Fact – statement of some element of truth about a subject matter or a domain. Example: milk is white, sun rises in east. ← Heuristics – rule of thumb based on years of experience. Example: strike on independence day in our state ← Intelligence – capacity to acquire, improve and apply knowledge. ← Experience – what we have done and what has happened in past in a specific area of work ← Common sense – natural ability to sense, judge or perceive situations ; grows stronger over time. ← Memory – ability to store and retrieve relevant experience at will, is part of intelligence. ← Learning – is knowledge or skill that is acquired by instruction or study Knowledge Types ...
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...Traditional/Conventional Models University of Phoenix PHL717 Constructing Meaning 11-25-2006 This paper will compare and contrast a selected foundational philosophy of management theory to that of a more modern one. The comparison will entail a personal understanding of the evolution of management thought as it is represented in the philosophies under analysis. Personal view would indicate or relate the thought that “I believe that the task of any theory of managing is to produce generalizations that are actionable by managers in everyday life and that as managers use such generalizations, they create opportunities for robust tests of their validity. The business of science and the business of managing are not separable” (Argyrols, 1996, p. ?). While personal reflection shows that each chosen theory can correlate into the business world of today, as commonalities can be examined, each hold a number of differences that illuminates the individuality of the theory and the times in which the theory originated or was prominent. For this paper there will be a look into organization theory in part as portrayed by Peter Drucker from a modern perspective and a science management theory as devised by Frederick Taylor. In today’s organizational society there is a push for organizations to become more in line with a true learning organization, which essentially separates from the more mainstream or traditional authoritarian and controlling philosophy to that of a behavioral...
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...pointing you in the right direction. Objectives get you actionable information and knowledge. You want actionable information and knowledge from qualitative marketing research. The first step in defining research objectives is to identify the research problem. Then you identify major topics you want to cover. Once you understand the research problem and topics, you define the research objectives. The Research Problem Clear marketing research objectives arise from a clear explanation of the research problem. Often, clients do not have a clear idea about the research problem. In fact, poorly defined research problems cause most marketing research failures in consumer research. So, the first questions you need to ask are about the research problem. You diagnose the problem. Here are six questions to diagnose and clarify the research problem. 1. What is the circumstance that demands research? 2. Who are the stakeholders in the decision? 3. What decisions will the research information support? 4. What does management want to learn that they don’t know already? 5. What specific information does management need? 6. What will the research report look like? Whenever you start a project, ask the six research problem questions to clarify the research problem. Spend enough time until you and your sponsors or clients agree on the research problem. How to Identify Major Topics Once you understand the research problem at a general level, you define major topics you want to...
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...Week 2 Analysis Report BUSN460 Senior Project Professor: Raouf Ghattas January 20, 2013 Issue 1: CanGo is in need of a formal business plan. A formal business plan includes a mission and vision statement to help define the business and where the company would like to go in the future. As the owner/operator of CanGo, Elizabeth never developed a formal business plan for the business from the beginning and therefore had no documented blueprint for the business to speak of. Perfect starting issue! Recommendation: A business plan is a written document that demonstrates persuasively that enough products or services can be sold at a profit for your firm to become a viable business. The three primary reasons for writing business plans are (1) to aid you in determining the feasibility of your business idea, (2) to attract capital for starting up, and (3) to provide direction for your business after it is in operation. CanGo needs a written that will help find omissions and flaws in their ideas by allowing other people to critically review and analyze the plan. A business plan tells you what your business objectives are; when, where, why, and how your business will accomplish its objectives; and who will be involved in running the business. This planning process will help define CanGo’s short term goals and help determine the actions that need to be taken to accomplish them and then gather and commit the necessary resources (Hatten, 2008). The mission statement needs...
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...chapters can be used to organize essays. An essay arguing a decision is organized in a different way from one offering a problem diagnosis.The structure of problem, decision, and evaluation essays is described in chapters 10 through 12, respectively. The chapters also include cases and sample essays about them. The essays are based on the writing of MBA students. To convince a reader that a conclusion about a case is valid, the writer must offer credible evidence linked directly to the conclusion. This fact helps explain the characteristics case-based essays have in common: 1. Answers two questions—What? Why?—and often a third—How? 2. Makes a position statement (What?) OT C CHAR ACTERISTICS OF A PERSUA SIVE C A SE ESSAY OP riting about a case is very different from talking about it.You collaborate with others in a discussion, bringing to bear everyone’s background and case preparation along with the instructor’s knowledge and facilitation skills. But you usually work on your own when writing about a case.You have to perform the entire analysis yourself as well as organize and express your thinking for a reader. However, the difference between talking and writing about a case runs deeper still.Audiences have much more exacting expectations of a text than they do of spoken comments. Logical gaps and the back-and-fill tolerable in a discussion are a major problem in an essay, confusing readers and undermining the writer’s credibility. Audiences don’t want a transcript of the...
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...Pareto Analysis: When Quality-Control Demands Decisions Nathan Logan November 18, 2002 Operations Management 345 What is Pareto Analysis? Since quality is an important factor in the successfulness and longevity of any business (especially where repeat consumption is part of the business model), it would be beneficial to the business to have tools by which quality could be measured. Many of these tools already exist and are called “quality-control” tools. Pareto Analysis, which will be discussed in this paper, is one such tool. It can be described as the 80/20 rule applied to quality-control. The 80/20 rule was originally formalized by Vilifredo Pareto, after studying the distribution of wealth. He noticed that about 80% of wealth was held by about 20% of the population. Several years later, Joseph Juran applied the principle to quality-control, and Pareto Analysis was born. Pareto Analysis essentially states that 80% of quality problems in the end product or service are caused by 20% of the problems in the production or service processes. In practice, then, it is beneficial to separate “the vital few” problems from “the trivial many,” and thereby identify the individual problems that can be fixed and most drastically benefit the end product or service. Once these problems are identified, the 20% that are causing 80% of the problems can be addressed and remedied, thus efficiently obtaining quality. Practical Pareto: How to Use It In conducting a Pareto...
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...Bringing the Balanced Scorecard to Life: The Microsoft Balanced Scorecard Framework White Paper By: Charles Bloomfield Insightformation, Inc. Published: May 2002 For the latest information, please see http://www.microsoft.com/business/bi/ Abstract This paper describes the Microsoft® approach to developing and implementing a Balanced Scorecard for enterprise performance management. It presents basic information on the Balanced Scorecard performance management methodology, and identifies key business issues that must be addressed in developing and deploying a balanced scorecard. The paper then presents the Microsoft Balanced Scorecard Framework (BSCF)—a comprehensive set of techniques, tools, and best practices to speed scorecard implementation using toolsets with which organizations are familiar. An extensive body of research and literature describing the Balanced Scorecard exists. That body of knowledge is constantly being expanded by The Balanced Scorecard Collaborative, Balanced Scorecard Institute, various consulting organizations, software companies, and client organizations. This paper cannot comprehensively cover such a complex topic or reflect accurately many of the nuances of scorecard development and implementation. Instead, it presents a basic conceptual overview of the Balanced Scorecard. Interested readers are encouraged to use the bibliography presented at the end of this paper as a guide to more detailed information. ...
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...CIPD’s HRPM sets out the activities, knowledge and behaviour needed for success. Use the standards in the CIPD HRPM for professionals and their organisation to: • define great HR • diagnose areas of success and improvement • build HR capability • recognise achievement through professional qualifications and membership The 2 core professional areas: The HRPM has two cores sitting at its heart – Insights, strategies and solutions and Leading HR. The cores are the building blocks of a successful HR career irrespective of the role, location and stage of the career. The cores combine strategies for sustainable organisational performance ensuring actionable and purposeful plans and simultaneously install leadership values in HR professionals. Insights, strategies and solutions * Building a picture * Developing actionable insights * Delivering situational HR solutions that stick * Building capacity and capability * Working with agility Leading HR * Personal leadership * Leading others * HR...
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...Bringing the Balanced Scorecard to Life: The Microsoft Balanced Scorecard Framework White Paper By: Charles Bloomfield Insightformation, Inc. Published: May 2002 For the latest information, please see http://www.microsoft.com/business/bi/ Abstract This paper describes the Microsoft® approach to developing and implementing a Balanced Scorecard for enterprise performance management. It presents basic information on the Balanced Scorecard performance management methodology, and identifies key business issues that must be addressed in developing and deploying a balanced scorecard. The paper then presents the Microsoft Balanced Scorecard Framework (BSCF)—a comprehensive set of techniques, tools, and best practices to speed scorecard implementation using toolsets with which organizations are familiar. An extensive body of research and literature describing the Balanced Scorecard exists. That body of knowledge is constantly being expanded by The Balanced Scorecard Collaborative, Balanced Scorecard Institute, various consulting organizations, software companies, and client organizations. This paper cannot comprehensively cover such a complex topic or reflect accurately many of the nuances of scorecard development and implementation. Instead, it presents a basic conceptual overview of the Balanced Scorecard. Interested readers are encouraged to use the bibliography presented at the end of this paper as a guide to more detailed information. ...
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...system are the basis for the effective quality control as well as for quality improvement. Thus, a good measure is relatively important to quality management. The acronym SMART represents simple, measurable, actionable, related (to customer and optional requirements), and timely. A good measurement should be: 1. cost effective and easy to obtain, 2. have a clear and unambiguous definition of measured objective, 3. clearly related to what is important to both external and internal customer, 4. taken at critical points in a process where value-adding activities occur to provide actionable information for making good decisions, and 5. made available and communicated to workers and managers when they need measurements. Without those characteristics, a measurement can also provide the needed information to the users, but extra cost and time will be charged. Users might not make relative good decision compare with those users with good measurements. 2. List and explain the four major categories of quality costs. Give examples of each. Quality cost can be divided into four major categories as follows: * Prevention costs: investments made to keep nonconforming products from occurring and reaching the customer. Prevention costs could be the salaries of individuals associated with quality planning and problem solving teams, the development of new procedures, and new equipment design. Or the investment in the information system expansion to develop data...
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...relates to the design of the data base application. Write this as though you are writing a memo to Martin Forondo. Ensure that your memo addresses the following points: a. Your approach to addressing the problem at hand (for example, specify the systems development life cycle or whatever approach you plan on taking). Mr. Forondo, FAME (Forndo Artist Management Excellence) needs technology support to track the contracts of artists, a proposal for contracts to new artists, calendars of artist schedules and the performance shows, etc. In any event, music manager today have to be informed about a lot more things than they used to in the past including music licensing, merchandising, sponsorships, branding, crowdfunding, endorsements, social media, direct-to-fan strategies, and more; and putting together a winning strategy for your artists requires the right information in the right context. You also have to have to figure how to acquire financing, make the right connections, get bookings, break through barriers, enter into strategic alliances and joint ventures, generate income for your artists from multiple sources and get maximum exposure for your artist in an ever-changing music industry landscape. This can be achieved by developing an application for your artist management and managing the artist data in the backend using SQL/DB2 database. The application can be managed by the admin, artist managers, and artists. They can login into the application and manage their events, marketing...
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...Resty Je Fernando BSBA MM-4 MME2 (International Marketing) Business confident of 8% GDP growth under Duterte [pic] MANILA, Philippines - A Philippine economy growing by eight percent should not be a problem under the incoming administration, local business groups said. Business groups led by the Philippine Chamber of Commerce and Industry (PCCI), Management Association of the Philippines (MAP) and the Philippine Exporters Confederation Inc. (Philexport) agreed that achieving an eight percent gross domestic product (GDP) growth for the country is not a question of if but a question of when. “I would think it’s a possibility, especially with the incoming administration’s planned push for agribusiness. In the past, instead of growing, our agribusiness has taken a step back. Given how strong our economy is now and if we put more on agriculture, then eight percent GDP growth is definitely a possibility,” PCCI president George Barcelon told The STAR. “Given the fact that we know he (incoming president Rodrigo Duterte) is an implementer, definitely six percent is very achievable this year. In fact, we might be surprised it might even go as high as eight percent during his term,” MAP president Perry Pe said in a separate interview. Philexport president Sergio Ortiz-Luis Jr., meanwhile, said the incoming administration’s strong focus on micro, small and medium enterprises (MSMEs), ease of doing business, human capital, infrastructure development, and increased...
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...Foundations Schools Generic Benchmarking Worksheet Team A University of Phoenix The Foundation Schools Generic Benchmarking Worksheet Task A: Problem/Opportunity Statement | Response to Task A: Problem Statement – The problem faced by Foundation Schools is the lack of committed board members to the set vision and goals. This could depict that there are too many programs in the objectives. The board of directors needs to analyze the program management to determine the viability of the projects. This way Nancy could select specific programs to run that will quickly realized the company’s vision, using what resource is availableProblem Statement – The board of Foundation School lacks the commitment to the mission and vision, to achieve their goals of growing enrollment and increasing revenue the school must embrace program management. Through the use of effective program management, Foundation management can prioritize the projects and staff with the appropriate resources to accomplish each task.Problem Statement – Foundations School major problem is the lack of follow- through necessary to achieve their goals and objectives. Everyone on the board has different plans on how to achieve increase in revenue and the resources to use that the communication surrounding the implementation has been unclear. The board’s strategic plan has to be clear, concise, provide strict guidelines and direction to achieve their objectives in the next two years.Problem Statement – Foundation...
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...Performance Measurement Robert Campbell MGT/437 March 14, 2011 Sunil Mehta Performance Measurement According to NY Government (n.d.) website, “Strategic, performance measurement-based management systems allow an organization to align its business activities to its strategy, and to monitor performance toward strategic goals over time” (para. 1). Each measurement should be objective, easy to understand, controllable by minimizing outside influences, timely, accurate, cost-effective, useful, motivating, and trackable (NY Government, n.d.). The use of performance measurement is important because the stock market’s volatility has shown that financial measurement is not the only measurement. By using measurement techniques companies can compare themselves to established norms. In this discussion there will be a look at three different types of performance measurement systems, what they do and how they are used. These systems identified are the balanced scorecard, performance dashboards, and the economic value added. The balanced scorecard is a strategic planning and management measurement style widely used throughout the business world to bring its business activities in line with the vision and strategy of the organization (Balanced Scorecard Institute, 1998-2010). According to the Balanced Scorecard Institute (1998-2010) the implementation increases focus on strategy and results, increases organizational performance by measuring what is important, and aligns strategy...
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