...designed to not only create jobs, but also to build infrastructure. 2. What role does entrepreneurship play in the economy? Who stands to gain from the success of individual entrepreneurs? How do other parties benefit? The role of entrepreneurship in the economy of a country is to inspire new business ventures that support wealth building and future prosperity. Entrepreneurs create new business opportunities in all areas of industry; they support the growth and health of a country's national economy. Without entrepreneurship, a country's economy may lack: innovation (research, development, new inventions and products), employment (entrepreneurs create jobs whenever they start new companies), and profits (entrepreneurs add value to the national economy by buying and selling products and services). People risk their time, money and other resources to start and manage a business. But, they also give hope to a better workforce. A lot of people; who are unemployed right now will find jobs that are more flexible and challenging, working for big and small business owners. 3. When did American business begin to concentrate on customer needs? Why? American started to focus on customer needs after World War II. The balance of power shifted away from producers to customers. The reason was more intense competition, which gave consumers more choices. Under those circumstances, meeting customer needs became an imperative for business success. 4. How...
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...rivals is the ultimate challenge -if a company’s strategies result in superior performance, it is said to have a competitive advantage -Ex: Dell’s strategies produced superior performance from mid-1990s until mid-2000s, as a result, Dell enjoyed competitive advantage over its rivals -How did they achieve competitive advantage? -due to successful pursuit of varying strategies: Direct selling, customization and efficient supply chain mgmt. -enabled company to lower cost structure, charge low prices, gain market share, and become more profitable than its rivals -Dell lost competitive advantage in later half of 2000s HP offered bundled products, needed to find ways to sell to intermediaries & Apple differentiation -first step toward achieving objective is to describe in more detail what superior performance/competitive adv mean and to explain pivotal role that managers play in leading strategy-making process Strategic Leadership: creating competitive adv through effective mgmt. of the strategy-making process -strat-making process is the process by which managers select/implement a set of strategies that ain to achieve a competitive adv Strategy Formulation: selecting strategies based on analysis of an org’s external/internal environment Strategy Implementation: putting strategies into action includes designing, delivering, and supporting products; improving efficiency of ops; designing company’s org structure/control systems Strategic Leadership, Competitive...
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...controlling (the four principal managerial tasks), and explain how managers’ ability to handle each one affects organizational performance. LO1-3 Differentiate among three levels of management, and understand the tasks and responsibilities of managers at different levels in the organizational hierarchy. LO1-4 Distinguish between three kinds of managerial skill, and explain why managers are divided into different departments to perform their tasks more efficiently and effectively. LO1-5 Discuss some major changes in management practices today that have occurred as a result of globalization and the use of advanced information technology (IT). LO1-6 Discuss the principal challenges managers face in today’s increasingly competitive global environment. Management part 1 A MANAGER’S CHALLENGE Steve Jobs has Changed His Approach to Management What is high-performance management? In 1976 Steven P. Jobs sold his Volkswagen van, and his partner Steven Wozniak sold his two programmable calculators, and they used the proceeds of $1,350 to build a circuit board in Jobs’s garage. So popular was the circuit board, which developed into the Apple II personal computer (PC), that in 1977 Jobs and Wozniak founded Apple Computer to make and sell it. By 1985 Apple’s sales had exploded to almost $2 billion, but in the same year Jobs was forced out of the company he founded. Jobs’s approach to management was a big part of the reason he lost control of Apple. Jobs saw his main task as leading...
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...controlling (the four principal managerial tasks), and explain how managers’ ability to handle each one affects organizational performance. LO1-3 Differentiate among three levels of management, and understand the tasks and responsibilities of managers at different levels in the organizational hierarchy. LO1-4 Distinguish between three kinds of managerial skill, and explain why managers are divided into different departments to perform their tasks more efficiently and effectively. LO1-5 Discuss some major changes in management practices today that have occurred as a result of globalization and the use of advanced information technology (IT). LO1-6 Discuss the principal challenges managers face in today’s increasingly competitive global environment. Management part 1 A MANAGER’S CHALLENGE Steve Jobs has Changed His Approach to Management What is high-performance management? In 1976 Steven P. Jobs sold his Volkswagen van, and his partner Steven Wozniak sold his two programmable calculators, and they used the proceeds of $1,350 to build a circuit board in Jobs’s garage. So popular was the circuit board, which developed into the Apple II personal computer (PC), that in 1977 Jobs and Wozniak founded Apple Computer to make and sell it. By 1985 Apple’s sales had exploded to almost $2 billion, but in the same year Jobs was forced out of the company he founded. Jobs’s approach to management was a big part of the reason he lost control of Apple. Jobs saw his main task as leading...
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...controlling (the four principal managerial tasks), and explain how managers’ ability to handle each one affects organizational performance. LO1-3 Differentiate among three levels of management, and understand the tasks and responsibilities of managers at different levels in the organizational hierarchy. LO1-4 Distinguish between three kinds of managerial skill, and explain why managers are divided into different departments to perform their tasks more efficiently and effectively. LO1-5 Discuss some major changes in management practices today that have occurred as a result of globalization and the use of advanced information technology (IT). LO1-6 Discuss the principal challenges managers face in today’s increasingly competitive global environment. Management part 1 A MANAGER’S CHALLENGE Steve Jobs has Changed His Approach to Management What is high-performance management? In 1976 Steven P. Jobs sold his Volkswagen van, and his partner Steven Wozniak sold his two programmable calculators, and they used the proceeds of $1,350 to build a circuit board in Jobs’s garage. So popular was the circuit board, which developed into the Apple II personal computer (PC), that in 1977 Jobs and Wozniak founded Apple Computer to make and sell it. By 1985 Apple’s sales had exploded to almost $2 billion, but in the same year Jobs was forced out of the company he founded. Jobs’s approach to management was a big part of the reason he lost control of Apple. Jobs saw his main task as leading...
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...Dell, Inc. A Strategic Management Case Study October 8, 2013 Sophie Yanez University of the Incarnate Word Table of Contents I. Introduction II. Dell’s Strategy a. Vision Statement b. Mission Statement c. Strategies and Objectives III. Recommended Vision and Mission Statements IV. External Assessment a. Porter’s Five Forces Model b. External Factor Evaluation c. Competitive Profile Matrix V. Internal Assessment a. Value Chain b. Internal Factor Evaluation VI. Porter’s Five Generic Strategy VII. SWOT Analysis a. SPACE Matrix b. Boston Consulting Group Matrix c. Internal-External Matrix VIII. Strategy and Objective Recommendations IX. Recommended Implementation Plan X. Strategy Review and Evaluation References Appendixes I. Introduction Dell was founded in 1985 under the name, PCs Limited by Michael Dell who at the time was a college student of the University of Texas. In 1988 the company’s name was changed to Dell Computer Corporation. The company is headquartered in Round Rock, Texas and is the world's #3 supplier of Personal Computers (PC) behind HP who ranks as #2 and Lenovo who ranks as #1 (According to IDC worldwide quarterly PC tracker). Dell provides a broad range of technology products for the consumer, education, enterprise, and government sectors. In addition to its line of desktop and notebook PCs, Dell offers network servers, data storage systems, printers, ethernet switches, and peripherals, such as displays and...
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...managers do, and how managers utilize organizational resources efficiently and effectively to achieve organizational goals. • Distinguish among planning, organizing, leading, and controlling (the four principal managerial functions), and explain how managers’ ability to handle each one can affect organizational performance. • Differentiate among three levels of management, and understand the responsibilities of managers at different levels in the organizational hierarchy. • Identify the roles managers perform, the skills they need to execute those roles effectively, and the way new information technology is affecting these roles and skills. • Discuss the principal challenges managers face in today’s increasingly competitive global environment. Management Snapshot Different Approaches to Management at The Home Depot and Lowe’s: What Is High-Performance Management? Home Depot shot to fame when its founders, Bernie Marcus and Arthur Blank, developed a new concept for a home improvement store. Their vision was to fill a warehouse-type store from floor to ceiling with a wide range of lowpriced products and to provide excellent customer service. Home Depot’s well-informed salespeople offered customers knowledgeable advice and they even conducted classes showing do-it-yourselfers how to install bathrooms or tile floors, for example. According to Home Depot’s founders, even the stores’ somewhat “scruffy” appearance was deliberate because Marcus and Blank wanted them to look like...
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...will benefit all stakeholders. Organizations today must continually evolve, change, and enhance current ways of operating in order to maintain market penetration or grow. The most successful organizations are those who employ leaders capable of visualizing the transformational changes necessary to mitigate the threat of competition. These leaders are skilled at sharing their vision and engaging the workforce in a corporate culture where associates feel valued and empowered. Through this type of culture, leaders cultivate their visions for change and inspire associates to strive for that shared vision. This type of dramatic change is necessary at Gene One in order to keep pace with demand and realize the conservative annual growth targets that have been projected and promised (University of Phoenix, 2004). The change will allow Gene One to go public within the next three years, thus providing...
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...and examines strategy implementation across industries and across countries—that is, implementing corporate and global strategy in firms that compete in more than one industry. Teaching Objectives 1. Introduce the main elements of strategy implementation—structure, control systems, and culture—and their relationships to each other. 2. Demonstrate how structure, control, and culture can build distinctive competencies at the functional level. 3. Describe the use of structure, control, and culture in implementing a single-business firm’s generic business strategy. 4. Discuss the use of restructuring and reengineering in improving the performance of a single-business firm. Opening Case: Strategy Implementation at Dell Computer Dell Computer grew rapidly from its founding as one-person, dorm-room operation in 1984. As the company has grown, Dell’s structure, control systems, and culture has changed to keep the...
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...one leaves off and examines strategy implementation across industries and across countries—that is, implementing corporate and global strategy in firms that compete in more than one industry. TEACHING OBJECTIVES 1. Introduce the main elements of strategy implementation—structure, control systems, and culture—and their relationships to each other. 2. Demonstrate how structure, control, and culture can build distinctive competencies at the functional level. 3. Describe the use of structure, control, and culture in implementing a single-business firm’s generic business strategy. 4. Discuss the use of restructuring and reengineering in improving the performance of a single-business firm. OPENING CASE: STRATEGY IMPLEMENTATION AT DELL COMPUTER Dell Computer grew rapidly from its founding as one-person, dorm-room operation in 1984. As the company has grown, Dell’s structure, control systems, and culture has changed to keep the firm on track to reaching...
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...in the mass production beer industry. The firm is facing internal and external environment challenges which are affecting its sales and profitability. The corporation is involved in a competitive, concentrated, and differentiated industry that has allowed major rivals to achieve growth through mergers and acquisitions. The case study addresses the issues that the organization is encountering. The company is facing declining sales due to changing consumer tastes and increased competitive pressure. Heineken is attempting to increase sales and retain its position as a premium beer, but is faced with a lack of support from two key demographic groups which includes Hispanic American's and young Americans (Dess, Lumpkin, Eisner & McNamara, 2012). A case study of the firm, and its market environment, utilizing value chain analysis, and Porter’s Five Forces was conducted. Recommendations and alternative strategies were developed to increase the position of the Heineken brand and regain sales from Hispanic Americans and young Americans. The implementation of the recommendations and alternative strategies may increase Heineken’s opportunity of sustainable long term growth within the industry. Introduction Heineken is the third largest brewer in the world and currently distributes more than 170 brands of beer in over 150 countries worldwide. However, over the past decade Heineken has faced some growth problems associated with the tougher drinking and driving laws in the U.S, a growing...
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...Overview of the Chapter In an uncertain competitive environment, managers must engage in thorough planning to find strategies that will help their organization to compete effectively. This chapter explores the manager’s role as both planner and as strategist. It discusses various elements of the planning process, different kinds of plans, strategy formulation, and the challenge of strategy implementation. This chapter also contains a detailed explanation of SWOT analysis and Michael Porter’s business level strategies. Learning Objectives 1. Identify the three main steps of the planning process and the relationship between planning and strategy. (LO1) 2. Describe the different levels and types of planning and how they lead to competitive advantage. (LO2) 3. Differentiate between the main types of business-level strategy and explain how they lead to competitive advantage. (LO3) 4. Differentiate between the main types of corporate-level strategies and explain how they are used to strengthen a company’s business-level strategy and competitive advantage. (LO4) MANAGERMENT SNAPSHOT: Different Ways to Compete in the Soft Drink Business To compete in the soft drink industry, both Pepsi and Coke decided to build global brands by manufacturing soft-drink concentrate and selling it in a syrup form to bottlers throughout the world. Pepsi and Coke charge a premium price for the syrup and invest part of the proceeds into advertising to build and maintain...
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...Journal of Intelligence Studies in Business JISIB is a peer review no-fee Open Access Journal. The journal publishes articles on topics such as Market Intelligence, Business Intelligence, Competitive Intelligence, Scientific and Technical Intelligenceand Geo-economics and their equivalent terms in other cultures. E.g. Intelligence Èconomique in France, Omvärldsanalys in Sweden or Konkurrenz-/Wettbewerbsforschung in Germany. This means that the journal has a managerial as well as an applied technical side (Information Systems), as these are now well integrated into real life Business Intelligence solutions. By focusing on business applications the journal do not compete directly with journals of Library Sciences or State/National or Military Intelligence studies. The journal do publish articles on Knowledge Management and Knowledge Transfer even though these are well developed areas with their own journals. JISIB occupies a niche. It currently caters to a defined group of scholars of some 400+ active individuals. It is supported by some estimated 5.000+ practitioners. It caters to specific conferences (ECIS,SIIE, VSST, SCIP, ITICTI, EBRF, ICI, ECKM, INOSA) where both academics and practitioners meet regularly. These conferences turn out some 300+ articles annually, of which some estimated 50+ can be considered potential full length scientific articles. JISIB will have 3 issues a year with about 5-10 articles in each. To strengthen the tie to practitioners a special...
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...creates a road map (strategy) that can, with good chance, effectively lead to the commercialization of the new prod-uct or service in the marketplace with a sustainable competitive advantage. ■ C H A P T E R 1 Economic Growth and the Technology Entrepreneur There are risks and costs to a program of action. But they are far less than the long-range risks and costs of comfortable inaction. John F. Kennedy |||||What drives global entrepreneurship?|| |C H A P T E R O U T L I N E|||| ||||| |||||ntrepreneurs strive to make a difference in|| 1.1|The Entrepreneur’s Challenge|||| 1.2|The Entrepreneur||our world and to contribute to its better-|| ||Ement. They identify opportunities, mobi-|| 1.3|Economics and the Firm||| |||lize resources, and relentlessly execute on their|| |||visions. In this chapter, we describe the character-|| |||istics of the people called entrepreneurs and the|| |||process they use to create new enterprises. We|| |||identify firms as key structures in the economy and|| ||||| |||the role of entrepreneurship as the engine of eco-|| ||||||| |||||nomic growth. New technologies form the basis of||...
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...test and measurement company, however, the company began selling computers and printers in the 1970. The computer industry started to grow in the 1990s due to the growing popularity of personal computers and the introduction of the internet. While the test and measurement equipment remained one of HP’s business products, computers and printers became HP’s main source of revenue because of the rapid growth in the computer industry. HP’s products are all innovative and fairly new to the public market. This allows HP to have a large market share in its industry. However, HP is also vulnerable because competitors will start making competing products. HP could lose market share if it does not continue to be innovative with its current products and creating new products. This is shown throughout HP’s history. Age of Organization and History Bill Hewlett and Dave Packard created HP in 1939. Quickly, HP became known for its management procedures and innovative products. Mr. Hewlett and Mr. Packard created a cultural norm called the “HP Way” that focused on “profits more than revenue growth, teamwork, open-door management, full employment, egalitarian pay practices, and flexible work hours” (Beers, 2005). The first 40 years of HP’s existence focused on test and measurement equipment. HP was innovative and a leading company in the industry, therefore, HP was seeing high profit margins. In 1970, HP started selling computer and printer products. HP struggled to be innovative because the...
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