...available today. They also provide a benchmark for original design as evidenced by winning the prestigious Compasso d’Oro award from the Associazone Design Italiano and has been recognized by the Wall Street Journal as one of the most prominent sports brands in the world. ‘This reputation has been earned not only through its countless racing successes, but also by virtue of the attention given to quality and to service that sets this company apart from all others.’ ("Focus," 2011, para. 6) Tullio Campagnolo, an amateur bicycle racer who was frustrated with current technology to change gearing on his bicycle, founded Campagnolo S.r.l in Vicenza, Italy in 1933. At the time, changing gears required the rider to dismount, remove the rear wheel and then flipping the rear wheel around so a different sized cog on the opposite side of rear wheel could be used, then reattach the wheel to the bicycle frame, and finally remount the bicycle and resume the race. This required tools and a bit of time off the bicycle to complete as derailleurs and quick releases had not yet been invented. Tullio Campagnolo spent three years designing, perfecting, and producing what has become one of the ubiquitous components on a modern bicycle – the quick release skewer. ‘The company soon expanded, focusing on the three fundamental concepts that would also characterize its future – performance, technological innovation, and quality of products and services.’ ("Focus," 2011, para. 3) Today, Campagnolo...
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...exploration of how the business world has changed since the digital revolution has occurred. This event, sometimes also referred to as the third industrial revolution, has dramatically increased the flow of information due to rapidly evolving internet access for more and more people worldwide. In parallel, the development and use of information technology has also strongly increased worldwide for people as well as for companies. In the next step, I will define the difference and connection between two important terms: information technology and information systems. Following I will explain the meaning of gathering data and its transformation into meaningful information for companies. The following part will then deal with the interdependence of organizations and information systems and go into more depth on explaining the six strategic business objectives of information systems which are competitive advantage, increase customer/supplier intimacy, constantly improve operational excellence, concentrate on the creation of new products, services and business models and finally ensure survivability on competitive markets. In order to better understand the essence of Information Systems I will explain its functionalities and go in more...
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...Operational Effectiveness and Efficiency via Lean Thinking Robert Moyler California Miramar University December 18, 2013 Abstract The purpose of this study is to explore the lean thinking system across operational processes of organizations. This paper hopes to examine lean thinking methods and some alternative approaches to discovering the most effective process and best practices for efficiency across multiple layers of any organization as it transforms raw materials into a finished product. In addition, this paper will explore how senior level executives can deploy lean thinking systems across its operations and internal processes to drive end profits and increase margins for an organization. Through articles, research, and evaluating previous studies to define and determine the best lean thinking to produce a strong value oriented product or service that produces positive financial results. This in turn, will create an effective yet efficient atmosphere that is all encompassing benefiting the organization, consumers, and the environment in which the organization is apart of. Operational Effectiveness and Efficiency via Lean Thinking Introduction Due to turbulent economic times and stronger competitive forces in the market place, it has become increasingly harder for firms or organizations to operate effectively and efficiently in the era we live in today. For this reason, this paper weighs heavily on lean thinking systems to arrive at effective and efficient...
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...financial reporting and operational processes. As a result, the use of spreadsheets is an essential part of the information and decision-making structure for these organizations. In developing and using spreadsheets, organizations need to balance their ease and flexibility against the value of reliable information for management’s application. As users of spreadsheet applications such as Microsoft Excel® or Lotus 1-2-3® have become more sophisticated, so have spreadsheets. Once used to support simple functions such as logging, tracking and totaling information, spreadsheets with enhanced formulas and built-in advanced features are now used to support such business functions as complex valuation models. The use of macros and multiple spreadsheets which are linked together allows users to build very complicated—and sometimes convoluted—models and other business functions with minimal or no documentation. In addition, these complex spreadsheets are not usually supported by the same control environment as formally-developed, purchased applications. For example, the developers and users of spreadsheets are usually not trained in structured programming, testing, version control or systems development life cycles, and spreadsheets are rarely restricted from unauthorized access by security controls. (Smith, 2013) How Are Companies Using Spreadsheets * Operational: Spreadsheets used to facilitate tracking and monitoring of work flow to support operational processes, such as a listing...
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...Strategy to Operations for Competitive Advantage Q&A with HBS professor Robert S. Kaplan by Martha Lagace Companies often manage strategy in fits and starts. Though executives may formulate an excellent strategy, it easily fades from memory as the organization tackles day-to-day operations issues, doing what HBS professor Robert S. Kaplan calls "fighting fires." A new book due in August by Kaplan and David P. Norton aims to make strategy a continual process. The Execution Premium: Linking Strategy to Operations for Competitive Advantage (HBS Press) shows managers how to weave organizational principles into a more effective management system that respects the differences between strategy and operations yet integrates them in a powerful way. Kaplan and Norton introduced the Balanced Scorecard, a performance measurement system, in 1992. The Execution Premium is their fifth book as coauthors. Kaplan recently explained the ideas behind The Execution Premium and how they bridge the common divide between strategy and operations. Q: What particular issues around execution need to be better addressed in business? A: There are two key issues. First is leadership. Without strong visionary leadership, strategy will not be executed effectively. The second key issue is to recognize that strategy and operations (or tactics) are both important but different. The normal course of events is for companies to focus on day-to-day operations and short-term problem solving. Management meetings focus on fighting...
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...Management By Don Hatcher, Bill Prentice Customers today are demanding better service, lower prices, and higher quality goods. With such a volatile economy in recent years and with so many businesses competing for the same customers, it is imperative for companies to continually improve their customer service or else risk falling victim to their competitors. This is one reason why many organizations are rethinking how they do business. For years, they have accumulated valuable information as a by-product of production while failing to put it to good use. When a company knows its customers’ buying patterns, interests, and demographics, it provides a distinct competitive advantage. This knowledge has become so critical in recent years that the process of managing information has become an industry of its own. How does a company manage its strategic information assets in today’s rapidly changing business environment? What challenges arise out of that task? Are there any preventive measures that can ease the “growing pains” associated with moving from one information paradigm to the next? No matter how simple or convoluted the current information architecture is, evolving companies’ effective use of information can help them achieve a level of sustainable competitive advantage that can be measured on the bottom line. [pic] Figure 1. The Information Evolution Model and its Five Levels The Information Evolution Model Companies evolve through a number of levels in what SAS calls...
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...service quality is of paramount importance and essentially encompasses the differences between service expectations and performance (Cronin & Taylor, 1992). Today businesses provide a high standard of service that is in keeping with customer expectations and at the same time remain economically viable. As such, levels of customer service and economic competitiveness can be seen as being inextricably linked (Grönroos, 1993). In order to maintain or improve levels of service quality, companies must constantly seek to improve operational processes and rapidly identify areas or issues which may detract from or degrade expected levels of service. In addition, it is also vital that the company establish standards and criteria by which service levels can be measured and compared and customer satisfaction assessed and quantified. Customer service can and should be seen as a multi-faceted aspect of business and embraces a range of diverse issues and points. Chief among these are questions of access, security, credibility, reliability, courtesy and competence, all of which have a bearing on the perception of the quality of the service delivered (Grönroos, 1988). Service blueprint Introduced by Lynn Shostack, service blueprinting was established as a method to model the service processes from the customer perspective. It maps out all the various interactions and encounters that occur during a service encounter between service providers and customers...
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...Read and discuss three main measures of performance in organisations. Give practical examples showing how organisations can adopt such measures to enable them excel. Many executives were convinced that traditional measures of financial performance didn’t let them manage effectively and wanted to replace them with operational measures. No single measure can provide a clear performance target or focus attention on the critical areas of the business. Managers want a balanced presentation of both financial and operational measures. Performance Measurement can be best understood through considering the definitions of the words 'performance' and 'measurement' according to the Baldrige Criteria: * Performance refers to output results and their outcomes obtained from processes, products, and services that permit evaluation and comparison relative to goals, standards, past results, and other organisations. Performance can be expressed in non-financial and financial terms. * Measurement refers to numerical information that quantifies input, output, and performance dimensions of processes, products, services, and the overall organisation (outcomes). Performance measures might be simple (derived from one measurement) or composite. Using a Balanced Scorecard Approach to Measure Performance Robert S. Kaplan and David P. Norton have developed a set of measures that they refer to as "a balanced scorecard." These measures give top managers a fast but comprehensive view of the organization's...
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...the existing tools in use today into a single application. Riordan is seeking an upgraded system for their human resources department. In this paper I will identify and describe each phase of this new system development life cycle project from beginning to end. We will break down each section to make sure that each phase of the project is well communicated and answer any questions that may arise. The COO of Riordan Manufacturing, requests an analysis of the HR system. The request is for an integration of the existing range of tools into one unified system. Riordan is looking for a modern information system for the human resources department. A system plan to improve human resources department information systems will be the basis of this summary. History and Background of Riordan Manufacturing Riordan Manufacturing Inc. began with Dr. Riordan, a chemistry professor. Dr. Riordan received approval for a few patents that involved processing polymers into super strong plastic substrates. In 1991 Dr. Riordan started Riordan Plastics, Inc. after he discovered the commercial power and economic benefits of his patents. Riordan took on a new direction of paying more attention to research and development. He also made sure he maintained the licenses of those patents he had already obtained to help further is business. By 1992 Dr. Riordan, through venture capital investments, purchased a fan manufacturing company. The fan company was in Pontiac, MI. in which...
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...CREATING ORGANIZATIONAL VALUE AND HIGH PERFORMANCE THROUGH INTEGRATED SUSTAINABILITY PROGRAMS AND BUSINESS INTELLIGENCE---A STUDY OF ACCENTURE As companies grapple with the current economic situation, many are recognizing that this particular downturn in the business cycle is different from those that preceded it. Indeed, today’s business context—characterized by rapidly intensifying globalization that has substantially increased the complexity, risk and uncertainty of doing business—has only served to exacerbate the challenge of managing through a difficult economy. Many of today's biggest challenges come down to the different kind of decision making required to be successful. Organizations seeking high performance must make faster and bolder decisions. Companies must think both the positive and negative consequences of decisions made in this fast-paced environment. The systematic study of the organization’s ability to develop and sustain a culture capable of delivering quality products and services over time enables us to identify and understand the general requirements for doing so and provides insight into how to do it. In this paper I will share what I have learned about creating and sustaining an organizational value through integrated sustainability programs and business intelligence that is capable of high performance in Accenture. In a time of changing consumer values and economic uncertainty, the marketing function has a more strategic role to play in driving growth...
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...objectives. Entrepreneurs manage aggressively and develop innovative strategies, practices, and products” (p. 238). Entrepreneurial organizations do this by being willing to try new things, challenge the status quo, and test out new processes. They encourage creativity, risk taking, and continuous learning and improvement. However creativity must then be harnessed and developed by innovation and it takes innovation to turn great ideas into something of value. Thus innovation should be considered fundamental to an entrepreneurial organization’s success. What then is innovation? Bruton (2012) says it well when he concludes that innovation is, “…a process of intentional change made to create value by meeting opportunity and seeking advantage.” (Innovation, para. 1). And although product innovation is a very important aspect of their business, it is only one area that entrepreneurs are interested and excited about. Rasmussen (2013) explains, “The very nature of innovation is changing dramatically in most companies. Innovation is no longer confined to product development. It is also a matter of creating new services, business models, partnerships, and customer experiences” (para. 12). Consequently there are a number of areas in which entrepreneurial companies seek innovation. Innovation in these organizations take many forms including providing growth opportunities, lower...
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...relationships between companies and their customers. A company will store information that is related to their customers, and they will spend time analyzing it so that it can be used for this purpose. Some of the methods connected with CRM are automated, and the purpose of this is to create marketing strategies which are targeted towards specific customers. The strategies used will be dependent on the information that is contained within the system. Customer relationship management is commonly used by corporations, and they will focus on maintaining a strong relationship with their clients. There are a number of reasons why CRM has become so important in the last 10 years. The competition in the global market has become highly competitive, and it has become easier for customers to switch companies if they are not happy with the service they receive. One of the primary goals of CRM is to maintain clients. When it is used effectively, a company will be able to build a relationship with their customers that can last a lifetime. Customer relationship management tools will generally come in the form of software. Each software program may vary in the way it approaches CRM. It is important to realize that CRM is more than just a technology. Customer relationship management could be better defined as being a methodology, an approach that a company will use to achieve their goals. It should be directly connected to the philosophy of the company. It must guide all of...
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...A Practical Approach to Achieving Productivity Optimization 1 “Sustainable Improvements” The Company: At Taurus Concepts, we are focused on helping organizations realize the business process improvements needed to stay competitive. This white paper explores Taurus Concept’s unique approach to process improvements and how its philosophy enables the company to offer an unmatched cost reduction guarantee. Today’s world leaves little room for inefficient or poorly running organizations. The economic environment is unforgiving and margins are eroding in the face of relentless pressure and shaky markets. Under these circumstances, companies are more interested than ever in productivity optimization, with particular emphasis on implementing improvements quickly, and reaping benefits immediately, as well as over the long haul. A recent study1 conducted by the Aberdeen Group reveals there is little doubt business process improvements carry tangible benefits. The study found best-in-class companies obtained a weighted average 26% year-over-year reduction in operating cost by leveraging process management strategies, tactics, and tools. Taurus Concepts understands your need for bottom line improvement, not lengthy presentations and fancy charts, and that’s why we focus on delivering measurable, sustainable financial results. Our practical, pragmatic approach minimizes organizational distraction and risk, and maps the shortest route to reduction in production costs and improvement...
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...chain management process that includes all activities necessary to move products through the plants and to obtain, implement, and manage manufacturing flexibility in the supply chain. Manufacturing flexibility reflects the ability to make a variety of products in a timely manner at the lowest possible cost. To achieve the desired level of manufacturing flexibility, planning and execution must extend beyond the four walls of the manufacturer. By Thomas J. Goldsby, assistant professor of Marketing and Logistics, The Ohio State University and Sebastian J. Garci’a-Dastugue, director of Research, Institute de Estudios para la Excelenda Competitiva goods sold, in 2002. The proportion of cost of goods sold outsourced in this industry is expected to increase to 42% by 2005.5 In large part, outsourced manufacturing is growing as a result of the need for manufacturing flexibility.6 Manufacturing flexibility enables greater responsiveness to changes in customers’ product preferences and quantities demanded.7 Determining the right degree of flexibility is important to virtually any company involved in the supply, production, distribution or sales of goods, and is at the center of the manufacturing flow management process. While manufacturing activities might be outsourced to suppliers, the commitment to quality and the managerial responsibility has to be retained at the firm. Through the manufacturing flow management process, management coordinates all activities necessary to move...
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...2.1. The concept of Business Process Management(BPM) Nowadays companies and organizations are facing fast change in business environment with fast changing customer expectation, with fast changing technologies and product lifecycle, and globalization1 within a market. Now 80 percentage of products are digitals, so there is a high speed of innovation of an increasing digitization within our marketing environment, and the competition is growing and growing. Within this environment todays managers have to ensure a long term business access for their company, and in a growing marketing it is important to respond on this by investing in innovative new products, sales channels and marketing strategies. Organizations are operating in a tough market...
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