...in building more strategy to survive? SWOT Analysis: Alternative Course of Action: Conclusion: Recommendation: Advaark Strategy: Stick to the Core - or Go for More? Company business and culture : A $550 million New York-based advertising firm with 400 employees. Innovative culture with creative people. Issue : Recently, one of the partners at Advaark advised Globalveb, a multibillion dollar holding company for an assortment of food and beverage, to get into energy drink business. Advice was given based on market research and growth rate of new business. Results: Successful new segment (energy drink) entry. Strategic crossroads: Should Advaark get into a new line of business, strategic consulting and services, or should it stay focused on its current business? Partner 1 Visionary, never content with status quo 1. People need this business 2. Marketing strategy service: $1.3B 3. What if our competitors get into it? 4. Offer one-stop shopping, not just ad 5. Make more by reducing cost of sales for existing clients 6. Business lines are blurring 7. We need to change with times Strategy: Move slowly into the market by developing a service for consumer products Partner 2 Sharp focus with operational skills 1. That is not our business or focus 2. We could lose our strategic focus 3. No expertise in opening new market 4. That is why focus is more important than ever 5. Failure results in the loss of longterm client...
Words: 313 - Pages: 2
...customers in building more strategy to survive? SWOT Analysis: Alternative Course of Action: Conclusion: Recommendation: Advaark Strategy: Stick to the Core - or Go for More? Company business and culture : A $550 million New York-based advertising firm with 400 employees. Innovative culture with creative people. Issue : Recently, one of the partners at Advaark advised Globalveb, a multibillion dollar holding company for an assortment of food and beverage, to get into energy drink business. Advice was given based on market research and growth rate of new business. Results: Successful new segment (energy drink) entry. Strategic crossroads: Should Advaark get into a new line of business, strategic consulting and services, or should it stay focused on its current business? Partner 1 Visionary, never content with status quo 1. People need this business 2. Marketing strategy service: $1.3B 3. What if our competitors get into it? 4. Offer one-stop shopping, not just ad 5. Make more by reducing cost of sales for existing clients 6. Business lines are blurring 7. We need to change with times Strategy: Move slowly into the market by developing a service for consumer products Partner 2 Sharp focus with operational skills 1. That is not our business or focus 2. We could lose our strategic focus 3. No expertise in opening new market 4. That is why focus is more important than ever 5. Failure results in the loss of longterm client relationships. 6. Know...
Words: 412 - Pages: 2
...Environment and Development chaired by Gro Harlem Bruntland in 1987. The commission defined sustainable development as “development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” Sustainability is the management of environmental, social and governance issues. It is basically about “going green” in every possible perspective. Respecting each other as people, taking care of the environment and living/working in a harmonious way of life; adds up to sustainability. Sustainability It refers to the balance integration of social and environmental considerations in business strategy and operations. Its about maintaining economic success and achieving commercial advantage by building reputation and gaining the trust of people that work with and live around the company. (satisfying customers demands while managing the expectations of other people;...
Words: 746 - Pages: 3
...industry. In order to properly prepare our sales team to meet the needs of the organization, InterClean must develop a comprehensive training and mentoring program that will introduce the new products and services to our sales team and possibly learn something new about our existing products. The course will review the company mission; introduce the new products and services and define the benefits to our clients; cover how to build positive client relationships and review governmental compliance standards. This course will consist of oral and multimedia presentations, peer reviews with defined mentors, interactive workshops and required reading. This course includes the Occupational Safety Hazard Workplace Safety and Hazardous Materials videos required by the Federal Government. Our objective is to prepare the sales team to handle any client request efficiently and effectively. The first week will review the salespersons responsibilities, what the organizational expectations are from the team and define the developmental path for each salesperson. The team will be involved in team building exercises, informal discussions regarding how the sales team will move forward, formal classroom study, and personal development. The second week the team will spend considerable time learning terms associated with the new chemical and service line and applications. The third week is a practical training course that informs employees how to use each chemical and reviews the rules and regulations that...
Words: 1598 - Pages: 7
...states that the majority of the population is university students (at UW Seattle and Seattle Pacific U) and upper-scale working singles. Those working singles will be the target market in the fact that they are the ones who don’t socialize while also working away their days. For every year since 2003, the time spent socializing outside of the internet has been generally decreasing according to the American Time Use Survey issued by the Bureau of Labor Statistics. In 2003, Americans spent an average of 40.5 minutes a day socializing offline. In 2011 however, that time decreased to about 37 minutes Americans spent socializing offline each day. There are quite a few reasons as to why these people don’t socialize enough and maintain healthy relationships outside of the workplace. One of the biggest reasons is that they are...
Words: 2758 - Pages: 12
...Finance professionals have to master the art of good communication skills or their technical expertise will be redundant, says Peter Shaw sk any senior executive what they think makes an effective finance professional and they will talk about the themes of clear judgment and effective communication. Rigorous financial analysis and discipline are essential but not sufficient. The senior leader in any business wants to work with finance professionals whom they trust as competent but can also understand. Often the rhetoric is about rigour, thoroughness, accountability and professionalism. But if communication doesn't happen well, all those wonderful professional skills can become sidelined and irrelevant. The consistent picture is that the finance professional who can communicate effertively becomes a crucial and influential part of a leadership team. The finance A professional who doesn't communicate well is regarded as a necessary evil, an encumbrance, a tedious part of the process and a bore. The finance professional can either be at the centre where they are influential, engaged and vital to success, or they can become sidelined and, at worst, regarded as a liability because of their inability to connmunicate with stakeholders. So how is this best avoided? The finance professional has so much to offer. Key principles are about clarity, curiosity, thinking through consequences and being corporate. Clarity Clarity is about effective preparation, identifying key points...
Words: 1110 - Pages: 5
...Comprehensive Case United States Surgical Corporation 1 Running head: COMPREHENSIVE CASE U.S. SURGICAL CORPORATION Comprehensive Case United States Surgical Corporation Scott P. McHone Liberty University Comprehensive Case United States Surgical Corporation 2 Abstract During the past thirty years we have seen an increase in the number of companies that have committed some form of financial shenanigans. Some of these companies have manipulated Generally Accepted Accounting Principles to present themselves as financially sound. Others have committed fraud to achieve the same objective. With this type of corporate behavior there is an increasing need for better auditing and more reliable audited financial statements. The purpose of this paper is to read and study a comprehensive case as presented in the textbook Contemporary Auditing: Real Issues and Cases and answer the questions as listed at the end of the case study. I decided to select case 1.10 United States Surgical Corporation. Comprehensive Case United States Surgical Corporation 3 Comprehensive Case United States Surgical Corporation To fully appreciate this paper it is recommended that the case study along with the associated questions be read prior to reading this paper. Question one from the case study focuses on what audit procedures should have been performed by the auditing firm for the 1981 audit period that would help increase the possibility of detecting the overstatement of the leased and loaned assets due...
Words: 4188 - Pages: 17
...adapting and refining your Sales organization’s response to the new realities Managing the future Most executives recognize that the real assets of a company are embedded in the quality of the relationships between the company and its most important stakeholders, such as clients or customers, employees and suppliers. Developing strategic relationships with customers should therefore be a central issue on the CSO’s agenda moreover in current context. Key Account Management is a systematic process for managing key interactions and relationships with most valuable customers. It focuses on the creation, implementation, execution and evaluation of an overall plan to guide the account team in developing new relationships at the C-level, aligning the best resources to the most profitable opportunities and delivering what was promised. Everybody would agree on the strategy, even more when you know that the Pareto principle applies here also with 20% of the customers generating 80% of the revenue/profit. However when looking at our recent CSO Insights’ study, execution seems different: 51% More than half of the companies recognize that they need improvement in selecting key accounts 60% CSO interviewed understand they lose deals because their competitors have established a better relationship with their customer 52% Also recognize their Key Account plan need improvment 2 Why Key Account Management has become increasingly important The consolidation of buying power in the...
Words: 2504 - Pages: 11
...supplier puts in. It is what the customers get out. Peter Drucker The corporate world has long understood the importance of serving their customers. Those companies that have neglected to do so effectively are probably no longer in business. This issue is no less important for the nonprofit development organization, although experience continues to demonstrate that customers don’t seem to get the attention they need or want from many of these organizations. Clearly, the development organization exists to provide a service. Potential and past customers, clients, and constituents call on an organization to have their needs met. They either believe that this service can help them or they want to discover if it can. How can an organization truly serve others if it doesn’t value their needs and desires, if it doesn’t understand them, and if it doesn’t strive to meet those needs and provide excellent value? If meeting customer, client, and or constituent needs is really the focus of the organization, then the belief must be held by all within that organization that the customer truly comes first and everything else must come second. If this is the dominant philosophy and culture, the staff will tend to value their work more and be less bureaucratic. The premise of this book is managing for excellence. “Excellent” customer service basically includes listening to your customer’s needs and desires, educating them about their choices, and then providing them with the resources to make an...
Words: 5197 - Pages: 21
...contributed articles Doi:10.1145/ 2330667.2330685 Trust between client organization and cloud provider is a strong predictor of successful cloud deployment. By GaRy GaRRiSon, SanGhyun Kim, anD RoBin L. WaKeFieLD Success Factors for Deploying Cloud Computing “a model for enabling convenient, on-demand network access to a shared pool of configurable computing resources (such as networks, servers, storage, applications, and services) that can be quickly provisioned and released with minimal management effort or service provider interaction.”14 The emergence of cloud computing is transforming the way organizations purchase and manage computing resources,17 providing a fundamentally different IT model in which a cloud provider might be responsible for a range of IT activities, including hardware and software installation, upgrades, maintenance, backup, data storage, and security. The result is that organizations can lower their IT capital expenditures ClOUD COMPUTiNg iS 62 Com muniCatio nS o F th e aCm | S epteM Ber 201 2 | vo L . 5 5 | N o. 9 and operating costs by purchasing ondemand technology resources (such as increased data storage, bandwidth, and processing power) while eliminating the need to maintain outdated equipment. Cloud services also include environments for application development and access to key technologies, software, and skilled IT personnel that might otherwise be too costly and difficult to obtain and maintain (see Figure 1). Along with hardware...
Words: 4590 - Pages: 19
...A CASE STUDY OF PARTNERING IN LEAN CONSTRUCTION Per Erik Eriksson Management and Business Administration, Luleå University of Technology ABSTRACT Lean construction is a relatively immature literature field in need of unbiased theoretical reasoning and case studies in order to investigate how lean thinking can be applied in a construction project context. The purpose of this paper is to increase the understanding of how various measures of lean thinking can be implemented in a construction project and how these measures work. In order to enhance unbiased theoretical reasoning a frame of reference is first developed through a literature review of peer-reviewed journal articles. The empirical part of the research utilises a lean construction pilot project as a case study. Empirical data was mainly collected through a series of three questionnaire surveys, responded by project participants that were involved in the lean implementation effort (approximately 30 responses) and three follow-up workshops in which the key individuals from all partner companies participated (15-20 individuals). The author of this paper functioned as a facilitator and action researcher, responsible for the design and analysis of the surveys and for planning and facilitating the workshops. Document studies and interviews of twelve project participants were also conducted in order to increase the richness of the case study data. The empirical results show that many of the lean related measures identified...
Words: 7861 - Pages: 32
...The concept of Customer Relationship Management has a broader focus of not only serving the customer but also creating the customer and retaining him for measurable and substantial returns. CRM is a vast subject where the concept of one to one marketing is supported by Database Marketing. MAURYA SHERATON DEFINES CRM AS “Customer Relationship Management is a process of managing customer relations in an organized way”. They aim at managing “each moment of truth” that is experienced by the customer. According to Mr Hariharan there are various contact points where the hotel comes in direct contact with the customer which are known as ‘Touch points’ in the CRM language. These touch points are considered important as there is direct interaction with the customer and they provide valuable input to the hotel. The input provided by the customer has to be captured in such a way that it becomes information and can be used by various processes within the hotel. This can be done with the help of technology and the aim is that whenever there is a customer interface with any of FIELD PROJECT CRM IN HOTEL INDUSTRY those processes they are able to use that information in servicing the guest in a most efficient manner. CRM PROCESS AT MAURYA SHERATON HAS BEEN DIVIDED IN TWO STEPS 1. Identification of all Customer Relationship management ‘vehicles’ 2. Integration of these Customer Relationship management ‘vehicles’ Vehicles...
Words: 7278 - Pages: 30
...other disciplines. In particular, in relation to the human side of reaching agreement on requirements, Principled Negotiation seems to offer a good framework for the process involved. This paper summarises the main concepts of Principled Negotiation and reports on an experience of its use over several years in helping Environmental Health Departments in Northern Ireland introduce IT systems. The relationship between Principled Negotiation and Soft Systems Methodology, a general problem solving strategy built on systems thinking concepts, is also considered briefly. Keywords: Principled Negotiation, Soft Systems Methodology, System Change Introduction In the preface to his classic text on the management of software development, Brooks (1975) starts with the statement that “In many ways, managing a computer programming project is like managing any other undertaking—in more ways than most programmers believe. But in many other ways it is different—in more ways than most professional managers expect.” This reminds developers that software can largely be treated like any other artefact, building on similar development approaches. It also recognises, however, that software has some special characteristics that need particular attention during construction. With this perspective, improvements to software development can be sought by considering relevant techniques that have proved successful in other areas. Typically, these will have been in use for many years and...
Words: 5788 - Pages: 24
...maintained by GST-registered businesses. Like Value Added Tax (VAT), GST is a tax on domestic consumption. It is paid when money is spent on goods or services, including imports. It is not paid when money is saved and invested in productive capability. A business will therefore charge GST on the output it sells (called the “output tax”), pays a tax on materials and services it buys (called the “input tax”), and hands over to the tax authority the difference between its output tax and input tax in each accounting period. Conceptually, GST is in effect costless to a business if it deals in or purchases exempt goods and services or does not register[1,2]. In the case of the construction industry, the building contractor will collect the output GST on behalf of IRAS from the building client, while he has to pay input tax to the ready-mixed concrete supplier for every delivery of ready-mixed...
Words: 7476 - Pages: 30
...Strategy & Project Management: Project orientated organisations Finnland 2005 Prof. (FH) Peter J. Mirski Prof.(FH) Mag. Peter J. Mirski Tel.: +43-512-2070-3510 E-Mail: peter.mirski@mci.edu http://www.mci.edu Current Position MCI, University of Applied Sciences: Director of studies „Management & IT“, Head of IT-Services Academical Profile Research projectmangement, knowledgemanagement strategic information management, e-learning Education process, project, information management Publications and articles in journals Practice Profile Management, R&D Project Management, CEO, CIO Consulting & Training Agenda 10:00 – 14:00 Brief project management overview Project orientated organisations Project scorecard Discussion Literature De Marco T., „The Deadline“, Dorset House Publishing Co ,1997 Goldratt E., “The Critical Chain“, North River Press, 1997 Heerkins G., „project management“, briefcase books 2002 PMBOK Guide, „A Guide to the Project Management Body of Knowledge“, PM Institute, 2000 Links •www.p-m-a.at (pm baseline english, german) •www.pmi.com (pm information) project management overview Importance of Project Management • Projects represent change and allow organizations to effectively introduce new products, new processes, new programs • Project management offers a means for dealing with dramatically reduced product cycle times • Projects are becoming globalised, making them more difficult to manage without a formal methodology –...
Words: 1737 - Pages: 7
