...Questions 1. Why is innovative management important and how have Walmart’s leaders demonstrated innovation throughout the company’s history? Innovation management is the discipline of managing processes in innovation. It can be used to develop both product and organizational innovation. Innovation management includes a set of tools that allow managers and engineers to cooperate with a common understanding of goals and processes. The focus of innovation management is to allow the organization to respond to an external or internal opportunity, and use its creative efforts to introduce new ideas, processes or products. Importantly, it involves workers at every level in contributing creatively to a company's development, manufacturing, and marketing. By utilizing appropriate innovation management tools, management can trigger and deploy the creative juices of the whole work force towards the continuous development of a company. The process can be viewed as an evolutionary integration of organization, technology and market by iterating series of activities: search, select, implement and capture. In 1960s, Sam Walton (founder of Wal-Mart) achieve higher sales volumes by keeping sales price lower than his competitors by reducing his profit margin. He relied on them to give customers the great shopping experience that would keep them coming back. “If we work together,” he said, “we’ll lower the cost of living for everyone… we’ll give the world on opportunity to see what it’s like...
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...Abstract: I consider an upstream supplier that supplies an input to an independent downstream firm and in addition sells the final product to consumers. I find that the upstream supplier cannot implement the monopoly outcome without imposing maximum resale price maintenance (RPM). RPM increases social welfare if consumers’ valuation for the final product of the downstream firm is high, and decreases social welfare otherwise. When the downstream firm is privately informed about the demand it faces, entry into the downstream market serves as a countervailing incentive that allows the upstream supplier to reduce the information rents. Consequently, asymmetric information induces the upstream supplier to enter the downstream market even if entry is not profitable under full information. Keywords: dual distribution, two-part tariff, resale price maintenance, information rents, countervailing incentive JEL Classification Numbers: L41, L42, D82 * I thank Koresh Galil, Asaf Ravkai, Yossi Spiegel, Manuel Trajtenberg, Marisa Trajterman and seminar percipients at Tel Aviv University for helpful comments. * Tel Aviv University, Ramat Aviv, Tel Aviv, 69978, Israel. Email: . 2 1. Introduction Upstream suppliers often adopt a dual distribution system whereby they not only sell their products to retailers but also enter the downstream market and sell their products directly to final consumers. This situation is common in the U.S. automobile industry (Banks, 1993), franchising (Brickley...
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...John Ferry Bilaos, CPA May 10, 2015 S130145 PRIMAN Elektra Products, Inc. I. Definition of the Problem Elektra Products, Inc. is an old company that has been around for 80 years. It had once been a top leading company in the industry but those years are long gone. Over the years, it has been encountering the following problems that lead to a great concern for its top management. These problems are as follows: a. Declining market share due to increased foreign and domestic competition b. Few and far in between new product ideas c. Poor staff relationship – Departments such as manufacturing and sales barely spoke to each other d. Employee morale is in all time low – Many employees are actively seeking other jobs Top management is already aware of the company’s shortcomings and problems. This led to the hiring of new CEO, Martin Griffin, who is pushing for the new empowerment campaign. Management is aiming to foster a new era of employee involvement and empowerment amongst the employees of Elektra Products. With the increasing competition, Martin emphasized on the need for new ideas that will come from the employees. The new CEO believes that the new empowerment campaign is the best way to address the problem. This new empowerment will promote innovation and improvement of working relationship among the employee. However, throughout the case, there are additional problems that were...
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...Elektra Products, Inc. Barbara Russell, a manufacturing vice president, walked into the monthly companywide meeting with a light step and a hopefulness she hadn’t felt in a long time. The company’s new, dynamic CEO was going to announce a new era of employee involvement and empowerment at Elektra Products, an 80-year-old, publicly held company that had once been a leading manufacturer and retailer of electrical products and supplies. In recent years, the company experienced a host of problems: market share was declining in the face of increased foreign and domestic competition; new product ideas were few and far between; departments such as manufacturing and sales barely spoke to one another; morale was at an all-time low, and many employees were actively seeking other jobs. Everyone needed a dose of hope. Martin Griffi n, who had been hired to revive the failing company, briskly opened the meeting with a challenge: “As we face increasing competition, we need new ideas, new energy, new spirit to make this company great. And the source for this change is you—each one of you.” He then went on to explain that under the new empowerment campaign, employees would be getting more information about how the company was run and would be able to work with their fellow employees in new and creative ways. Martin proclaimed a new era of trust and cooperation at Elektra Products. Barbara felt the excitement stirring within her; but as she looked around the room, ...
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...following is an example of the process involved in writing a Case Study paper. The Case Study is found at the end of Chapter 1 of your textbook; Elektra Products, Inc. Items in red font are explanatory notes and would not be included in the finished product. Charles A. Student 20 Nov 2011 Elektra Products, Inc. The following summary identifies the basic substance of the situation, the key individuals involved, and the dilemma faced by the responsible manager. Summary: Barbara Russell, Elektra's Vice President of Manufacturing, has been tasked by Martin Griffin, Elektra's new President, to head one of the teams that will devise a plan to change Elektra's management style from a traditional top-down firm to a de-centralized organization that emphasizes employee empowerment in the management process. Ms. Russell forms an enthusiastic team that works extra hours to compile management changes that would allow employees at all levels to make decisions appropriate to their positions. However, When the recommendations are presented to department heads, they receive a cold reception when Mr. Griffin is called away from the meeting. Ms. Russell is now faced with the problem of implementing change against the resistance of the mid-level management. Question 1: How might top management have done a better job changing Elektra Products into a new kind of organization? What might they do now to get the empowerment process back on track? Note: Question 1 asks two questions;...
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...Case Analysis Report: ELEKTRA PRODUCTS, INC. Define the Problem in the Case Elektra Products Inc. is an established company that has historically done well until recently, when a host of problems ranging from outside competition to company moral became apparent. It would be nice to know more information concerning the extent of the company’s problems, but since they are not talked about in detail, this case study will assume that they are moderately severe since people are actively seeking other employment. In an effort to revive the company, the new CEO, Martin Griffin, introduced a new empowerment campaign to improve performance. Top management then selected managers to lead problem-solving teams to work on new ideas. Even though the idea was good there were still against the change and considered the empowerment campaign as corporate waste such as Simon. Barbara Russel, the manufacturing Vice President, was enthusiastic about the empowerment campaign. Together with her team they made and provided new propositions and shared them with the management. The new CEO showed enthusiasm. But, the other department heads brought lot of questions and speculations about the new propositions right after the CEO left the meeting. This is the list of propositions made by Barbara’s team and Objections from Department Heads: PROPOSITIONS OBJECTIONS Allow salespeople to refund up to $500 worth of merchandise on the spot. Finance: This would create a gold mine for unethical customers...
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...01 Evolution of Management Batch - 113 Group – 01 Index Number PQHRM/113/02 PQHRM/113/04 PQHRM/113/14 PQHRM/113/35 PQHRM/113/9 T/PQM/113/111/01 PQHRM/113/34 PQHRM/113/20 Electra Products Inc. Innovative Management at turbulent times Table of Contents I. Executive Summary ........................................... 2 II. Description of Problome.................................... 3 Problem Summary Company & Problem Analysis Empowerment back on track Barbara’s situvation III. Implementations ................................................ 6 Planning Process Continus Improvement Barbars Situvation IV. Conclution ........................................................ 15 V. Extraction ......... Error! Bookmark not defined.16 P AGE |1 Executive Summary Company Electra Products Inc. is an 80 year old publicly held Retail Electrical Product Manufacturer, who has well experienced & loyal set of employees. Barbara Russel is Vise President Manufacturing of this Operation & Martin Griffin is newly appointed CEO to carry out the empowerment program which was a decision of top management as a solution to below problem. Current Situation Company was facing following main problems; In recent years market share of Electra products has declined rapidly due to foreign & domestic competition. Company did not have any new innovations to face the challenging market. Communication between departments is very...
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...Case Study: Elektra Products, Inc. The Case: Problem: Once leading manufacturer/retailer of electrical products/supplies has declining market share, low employee morale, inter-departmental communication gaps (sales and manufacturing not talking), slow innovation (i.e. new products few and far between) One of the solutions: employee empowerment but with a buy-in problem from the department heads during the proposal by B. Russel. Important characters in the case: Barbara Russel (VP for manufacturing; team leader manufacturing team) – working on ideas to improve how retail stores got the merchandise they needed it by: * Manager follow a product from design through sales to customers * Allow salespeople to refund up to $500 worth of merchandise on the spot * Make information available to salespeople about future products * Swap Sales and manufacturing personnel for short periods for job awareness Martin Griffin (New CEO) – excused himself during presentation Department heads – had concerns with Russel’s proposal. Some Employees – not buying the idea Case Discussion 1. How might top management have done a better job changing Elektra Products into a new kind of organization? What might they do now to get the empowerment process back on track? The role of the top management in employee empowerment or in any change management is to exhibit commitment to the change, provide leadership which involves influencing employees to excellence, molding...
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...Elektra Products, Inc. CASE ANALYSIS 1 - PRIMAN PROBLEM: The 80-year old company has lost its position as the leading manufacturer and retailer of electrical products and supplies. DIAGNOSIS / ANALYSIS OF CAUSES: Market share is down due to * Increased competition from local and international companies * Lack of new products from the company * Inefficiency due to the lack of inter-department communication * Low employee morale A. Goal: - To give the market lead back to the company B. Objectives for Problem Solution: 1. To develop inter-departmental communication and teamwork 2. To improve employee morale 3. To encourage product creation and innovation ALTERNATIVES: I. Maintain the status quo II. Re-introduce and improve the Empowerment Campaign to make it successful III. Revitalize the organization DECISION: To revitalize the organization by: * Updating its mission and vision to conform with the current market situation * Implementing team-building activities to foster camaraderie and communication among employees * Upgrading the employee benefits package to include career development and training * Providing skills training to inspire new products, boost sales, and recapture its domestic and international market lead “Changing company structure – such as who reports to whom – won’t accomplish much and can be very disruptive. A reorganization has to aim for something bigger – such as changing...
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...Webster University Space Coast Region Merritt Island Campus Case Study Report Of Elektra Products, Inc By MNGT 5000 Management Submitted to: October 30, 2012 Synopsis Electra Products, Inc. is a manufacturing and retailer of electrical products and supplies. It is facing difficult times due to loss of market shares as a result of competition and lack of new product ideas. They are also having personnel, communication and morale issues. Mr. Martin Griffin, new CEO, was hired to turn the company around. He started a new campaign of empowerment and decided to divide the managers into different problem-solving teams. He asked they come up with ideas to implement the new campaign. Barbara Russell, Manufacturing vice president, and her team were excited; however, not everyone felt the same way about the new empowerment campaign. Apparently, personnel were discouraged and lost trust in management because of the failed attempts from the past. Some managers did not believe the new campaign of “empowerment” would change anything. During the following meeting, Barbara reported her team’s recommendations. Mr. Griffin received them with enthusiasm but when he left the room, the other department heads found reasons why the changes would not work. Barbara and her team were very disappointed at the other manager’s lack of support. She was wondering what to do next and thought her choices were not easy: talk to Mr. Griffin, work slowly to gain support...
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...Daft (2012) and Innovation Adapted 12: Change 6/11/2012 Topics to discuss History of Management Evolution of Management thinking Environment of Management Corporate Culture, Ethics and Social Responsibility Management Planning -Managerial planning & goal setting - Strategy formulation & Implementation - Managerial decision making Organizing -Designing adaptive organizations -Managing change & innovation -Human resource Management Leading -Leadership -Motivation -Communication -Teamwork Controlling -Managerial and Quality control 3 Adapted from Daft (2012) 6/11/2012 Working Plan Topic Session No 1 2 Session 1 Session 2 Topics Textbook NEM Ch 1 NEM Ch 2 Tutorial Cases Questions 1, 5, 8, 9 Elektra Products, Inc (p.56) Introduction to Management The History of Management The Management Environment, Ethics and CSR Planning & Strategy Formulation 4, 6, 7 SIA Corporation (p. 58) 3 Session 3 NEM Ch 3 NEM Ch 5 Rio Grande Supply Company Ch3: 3, 4 (p.176) Ch5: 3, 6 Empress Luxury Lines (p.179) 4 Session 4 - Nielsen Media Research NEM Chs 7 & Ch7: 1, 2 (p.262) Ch 8: 4, 6 - Edmunds Corrugated Parts 8 and Services (p.264) NEM Ch 9 NEM Ch 10 NEM Ch 12 2, 3, 4 4, 5, 6 3, 4, 7 A manager’s Dilemma: Who gets the project? (p.265) FMB&T (p. 392) Commonwealth Worldwide Chauffeured...
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...harm or benefit has come from the creation of Marvel Studios and the expansion into filmmaking. Biography/History Marvel Entertainment, Inc. is a prominent character-based entertainment company that is worldwide. The have a collection of 5,000 characters that cover a 70-year company span and sever media types (comics, toys, movies, et cetera). “Marvel’s strategy is to leverage its franchises in a growing array of opportunities around the world, including feature films, consumer products, toys, video games, animated television, direct-to-DVD and online” (Viacom). Marvel Studios mission is to “develop and manage entertainment projects that leverage Marvel’s vast universe of creative content” (Marvel.com). Throughout the 1970s and 1980s, Marvel had licensed out a number of their characters for movies and direct-to-TV productions. Very few of these are remembered today. One that you might recall is Howard the Duck; it didn’t do so well in the box office. The reasoning behind such failures was the lack of research the company put into it’s licensing (Stax). Marvel Studios was created in the 1990s and it run by Avi Arad (President and CEO). Prior to heading Marvel Studios, Avi Arad had become one of the world’s most predominant toy designers, he produced children’s programming and had created dozens of successful products. Arad is titled with Producer and or Executive Producer in all of the Marvel films (Stax). With the creation of Marvel Studios and the...
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...About Founded in 1926, Koç Holding has become not only one of the largest and most successful groups of companies in Turkey but also in Europe, by staying one step ahead of change throughout its journey of 80 years. Adamant in observing in all its operations the principles and ethical values of administering corporate governance, undertaking social responsibility and providing environmental protection at international standards, the Koç Group is a global player constantly moving toward its objective of duplicating its success in Turkey at the global scale. Consumer Durables Developments in the durable consumer goods sector In 2014, the white goods market is estimated to have grown 2.4% and the LCD TV market by 1.6% worldwide over the prior year. The European white goods market, one of Arceliks main markets, expanded about 4% over the previous year. While the growth in the Western European market neared 4%, the Eastern European market grew 5.6% due to rapid market growth across the region during the last quarter. In the Middle East and North Africa, upheavals across the region have created significant pressure on the markets. The white goods market contracted over 10% in Egypt, and by nearly 3% in South Africa, the largest and most developed economy on that continent. Turkey remained the largest production hub in Europe for the white goods sector. According to data by the Turkish White Good Manufacturers Association (BESD), exports in the white goods grew 5% year-over-year...
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...section vi cases 1 2 3 4 5 6 7 8 9 10 11 12 FedEx Corporation Honda Motors Virgin Toyoko Inn Group PowerGen Kao Corporation Continental Caterpillar Metro Grupo Elektra Lego Mindstorms Shell and Billiton 13 14 15 16 17 18 LoJack and Micrologic Proteome Systems Swatch Ducati Chicago Museum Trilogy University 647 663 680 702 709 721 738 755 773 778 795 803 818 827 847 854 872 883 892 901 909 928 19A Cap Gemini Sogeti 19B Cap Gemini Sogeti 20 21 22 Kentucky Fried Chicken Cirque du Soleil Nike and the University of Oregon 933 case 1 FedEx Corporation: Structural transformation through e-business By Ali F. Farhoomand and Pauline Ng1 Case 1 [FedEx] has built superior physical, virtual and people networks not just to prepare for change, but to shape change on a global scale: to change the way we all connect with each other in the new Network Economy. (1999 Annual Report) [FedEx] is not only reorganizing its internal operations around a more flexible network computing architecture, but it’s also pulling-in and in many cases locking-in customers with an unprecedented level of technological integration. (Janah and Wilder, 1997) its inception 1973, Federal Express Since express deliveryincompanytransformed logisCorporation (‘FedEx’) had itself from an to a global tics and supply-chain management company. Over the years, the Company had invested heavily in IT systems, and with the launch of the Internet in 1994, the potential for further integration of...
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...Offshore Employment Handbook The Time-Saving “Getting Started” Guide for Finding Offshore Oil, Gas & Energy Jobs WE STRONGLY RECOMMEND TO SAVE THIS DOCUMENT ONTO YOUR HARD DISC NOW!!! Offshore Employment Kit…2 How to Avoid Offshore Oil Job Scams..................................................................... 5 Living the Offshore Life ......................................................................................... 10 Glossary of oilfield terms ....................................................................................... 12 Frequently asked questions about the offshore industries ........................................ 14 Nature of the oil industry ....................................................................................... 16 working conditions ................................................................................................ 19 Employment .......................................................................................................... 20 Occupations in the Industry.................................................................................... 20 Training and Advancement..................................................................................... 22 Earnings ................................................................................................................ 23 Outlook ......................................................................................................
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