...School Professor Donald Sull on the strategic challenges ahead for one of India's oldest business groups "This year we will also be focusing on expanding our businesses internationally... This is an important new phase in our group's growth plans and I trust you will also fully commit yourselves to achieving success in establishing a strong international presence for the group" -Tata group Chairman Ratan Tata's message to the group on January 1, 2004. It seemed prescient. Here I was, wondering what stopped Indian companies from going global "" and the chairman of one of the country's oldest, most revered business groups was just starting to make a commitment to globalisation. Could it be that no Indian company had become truly global because not one had committed itself wholly, totally, irrevocably to globalisation? One person has the credentials to answer that question: Harvard Business School Professor Donald Sull. His book Revival of the fittest: why good companies go bad and how great managers remake them (Harvard Business School Publishing, 2003) had caused a stir because of its basic premise, "management by commitment". Pertinently, I knew that Sull was also researching what made companies globally competitive in Brazil, China and Mexico. According to Sull, managerial commitments "" such as investing financial resources, signing contracts, making public promises and entering into customer promises "" bind every organisation to a course of action. They enable...
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...Ethical relationship between business and: * Consumers * Employees * their effect on the Environment * their effect on Society The relationship between business and consumers: * The economist Milton Friedman said the social responsibility of business is to increase profits. Any other social responsibility is a delusion; for him the only responsibility for corporations was to their shareholders. * It is only recently that businesses have moved focus onto their stakeholders (The Stakeholder theory). This is because as times are changing, stakeholders, specifically consumers, are becoming increasingly empowered and vocal, forcing businesses to review their strategies. Also, the media is bigger so any unethical stories will be greatly publicised. If enough people then stop buying from a business then a business will go bust or will be forced to change. Therefore, businesses care about the perception consumers have of their businesses, resulting in ethical business practices. * Businesses have a legal requirement that their products are safe and they contain appropriate guidance for their use. If not, the business must take responsibility (i.e. if someone gets hurt) * For example, Shell was the focus of consumer criticism over the sinking of the Brent Spar, so they bowed to consumer pressure and did not sink the Brent Spar. * Supermarkets have been one of the businesses where the importance if ‘green credentials’ has become increasingly important, because...
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...Pros and Cons of Liberalisation , Privatisation and Globalisation (LPG) , LPG in Developed and Developing Countries LIBERALISATION The main aim of liberalisation was to dismantle the excessive regulatory framework which acted as a shackle on freedom of enterprise. Over the years, the country had developed a system of “license-permit raj.” The aim of the new economic policy was to save the entrepreneurs from unnecessary Harassment of seeking permission from the Babudom (the bureaucracy of the country) to start an undertaking. Similarly, the big business houses were unable to start new enterprises because the Monopolies and Restrictive Trade Practices (MRTP) Act had prescribed a ceiling on asset ownership to the extent of Rs. 90 crores. In case a business house had assets of more than Rs.90 crores, its application after scrutiny by the MRTP Commission was rejected. It was believed that on account of the rise in prices this limit had become outdated and needed a review. The major purpose of liberalisation was to free the large private corporate sector form bureaucratic controls. It, therefore, started dismantling the regime of industrial licensing and controls. On April 14, 1993, the Cabinet Committee on Economic Affairs decided to remove three more items form the list of 18 industries reserved for compulsory licencing. The three items were: motor cars, white goods (which include refrigerators, washing machines, air-conditioners, microwave ovens etc.) and raw hides...
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...Globalisation on an Organization’s Leadership, Management and Strategy STRATEGIC MANAGEMENT ------------------------------------------------- TABLE OF CONTENTS | Page | Chapter 1: Globalisation | | Introduction | 2 | 1.1 What is globalisation and the aspects that affect it? | 3-4 | | | Chapter 2: Application | | 2.1 Examine globalisation with a South African based company | 5-6 | 2.2 History of Toyota | 5-6 | 2.3 Some of the products that Toyota | 7 | 2.4 Toyota’s vision and mission | 8-9 | 2.5 Toyotas Road to Globalisation | 9-12 | 2.6 Toyotas Fundamental Steps to Global Stategy | 13-15 | 2.7 The Advantages Of Gobalisation Affecting Toyota | 16 | 2.8 The Disadvantages of Globalisation Affecting Toyota | 17 | | | Chapter 3: Recomandation | | Conclusion | 18 | Bibliography | 19 | | | INTRODUCTION This assignment stems from the subject strategic management and within this subject the concept of globalisation needs to be learnt and by doing so this assignment will help and improve the researchers understanding. The researcher will discuss the concept of globalisation with regard to leadership, management and strategy within this topic the researcher uncovers what is globalisation. As part of the assignment a local South African business was chosen to explore globalisation...
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...Globalisation refers to the increasing interconnectedness of societies, so that what happens in one locality is shaped by distant events and vice versa. Globalisation has many causes including spread if information communication technology, the global mass media, cheap flights, deregulation of markets and easy movements of businesses. Held et al argues there’s been globalisation of crime; an increasing interconnectedness of crime across national borders. The same process that brought globalisation of legitimate activities has also brought the spread of transnational organised crime. Globalisation creates new opportunities for crime and new means of committing crime, for example cyber crime. Manuel Castells (1998) argues because of globalisation there is a globalised criminal economy worth £1 trillion. This takes a number of forms such as arms dealing, human trafficking, green crime and many others. The global criminal economy has both a demand and supply side. A reason for scale of transnational organised crime is demand from the rich west. However the global criminal economy couldn’t survive without a supply side that provides the source for demands of the west, such as drugs and prostitutes. This supply is linked to the globalisation process. For example third world drug producing countries such as Columbia have large populations of impoverished peasants. For them drug investment is attractive; it’s simple to produce and commands high prices. In Columbia, 20% of peasants rely...
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...International Development (AusAID). Each type of aid is focused on a slightly different area: bilateral aid is generally targeted towards health, education and training programs, technological support, building infrastructure, emergency food and basic supplies i.e. shelter, medicine & clothing during crises; NGOs aim to make communities more self-sufficient and ecologically sustainable and multilateral aid is used to fund emergency relief projects, large scale infrastructure, disease control and large scale health, education and training programs. Overall Australian aid is spent equally on good governance, education, rural development, health and infrastructure. Australian aid programs also assist countries to make use of globalisation (new information technologies and trade) and promote sustainable resource management. Each year, Australian government aid is able to help more than 58 million people living in poverty. The Asia-Pacific region is one of the most concentrated regions of poverty in the world (800 million people are living on less than $2 a day) – countries in this region are the main recipients of Australia's aid –...
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...Economic 5. Techonological 6. Legal SOCIAL FACTORS Ageing population: need more drugs Better informed customers: Firms should give more information, because when you’re sick the first thing you think of doing is looking up on the internet. Firms have to work on their communication Social responsibility: related to medications that are meant to cure people. How much money should be made from drugs that are saving lives? At which point should firms renounce to their huge benefits? Importance of emerging markets: some regions in Asia More: New industries for new diseases, geographical differences (some countries don’t have money to spend on drugs) ECONOMIC FACTORS Globalisation: market is going global concerning drugs and pharmaceutical products Wave of M&A: correlated factor with globalisation Different required capabilities of each category of drugs: ethical drugs, OTC, generics, biotech, vaccines Conterfeit medicines: possible to buy it online TECHNOLOGICAL FACTORS: Uncertainty and complexity of the R&D process (Creating new pharmaceuticals. It takes 10-15 years on average for an experimental drug to travel from the lab to...
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...Be able to develop a new or modify an existing food or beverage product Design: concept research; small-scale development; corporate development programmes; costing; specification manual; presentation methods; food stabilisers; food enhancers; trend analysis; consumer reactions; timescales for development; risk assessment Legislation: concerns eg food labelling, additives, food safety, risk analysis [HACCP] Influences: types eg food fashions, globalisation, ethnic cookery influences, vegetarian and healthy eating concepts https://www.blogger.com/blogger.g?blogID=5649485182751853952#editor/target=post;postID=821891962334217847 LO2 Understand issues of large-scale food production Production: project design and management; product quality and saleability Packaging: role of packaging in demand and acceptance; technological developments; materials; environmental issues; distribution channels Equipment: appliances and their versatility; new equipment requirements; staff training; operating procedures Technology systems: types eg testing and evaluation equipment, analysis software and hardware, temperature controls and recording, storage monitoring, stock rotation systems LO3 Be able to investigate food quality using subjective and objective tests Subjective tests: tests eg taste, colour, texture, smell, flavour, overall acceptability. Objective tests: physical; chemical; microbiological and organoleptic techniques LO4 Understand responses of customers to new products Evaluation...
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...Development Association (CIDA), there are about 6.0 million SMEs in Bangladesh and among them only 27 thousand enterprises are ready to expand and export. SMEs contribute 50 per cent of total industrial output employing 82 per cent of industrial labour force. This statistics show that the productivity of labour is low as 82 per cent of workforce is producing only 50 per cent of output. Therefore, there is a high labour-capital ratio. Although Bangladesh is an overpopulated country with abundance of labour, a large portion of its total workforce still remains unskilled and semi-skilled. One of the few reasons hindering the growth of SMEs towards capturing a larger market access is the assurance of quality products. Bangladesh Standards and Testing Institute (BSTI) is responsible in securing quality assurance (QA) certificates from registrars of QA. The importing countries of SME products sometimes discriminate LDCs and adopt different processes of protectionism to guard their own...
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...techniques and procedures used to recognise and understand marketing phenomena 4 STAGES OF DEVELOPING AND IMPLEMENTING MARKETING STRATEGIES: 1. Identifying and evaluating opportunities 2. Analyse market segment and select target markets 3. Planning and implementing a marketing mix that will satisfy customers’ needs and meet objectives of the organisation 4. Analysing market performance TYPES OF RESEARCH FOR PLANNING AND IMPLEMENTING MARKETING MIX: 1. Product research = to evaluate new products or adapt old products = concept testing: new product idea to judge acceptance and feasibility of concept = product testing: reveals strengths and weaknesses and performs better than competition = brand name evaluation: is name appropriate for the product = package testing: assesses size, colour, shape, ease of use + other attributes of package 2. Pricing research = evaluate how much customer is willing to pay for product, finds ideal price and suitable timing for discounts or whether there is price gaps. And answers questions such as: = Is there need...
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...IBM Business Consulting Services Challenges for the automotive industry in an on demand environment Seven areas of strategic action Executive brief ibm.com/bcs Contents 1 1 1 3 4 7 Introduction The automotive industry is facing new and pressing challenges. Globalisation, individualisation, digitalisation and increasing competition are changing the face of the industry as we know it. In addition, increasing safety requirements and voluntary environmental commitments by the automotive industry will also contribute to the changes ahead. Size is no longer a guarantee of success. Only those companies that find new ways to create value will prosper in the future. The purpose of this paper is to present a short overview of the automotive industry today and highlight challenges facing the industry. Based on this perspective, we will discuss strategic levers enabling OEMs to transform to on demand enterprises. Introduction Methodology The evolving automotive landscape The on demand challenge Brand management Customer relationship management 10 Core competency management 13 Software management 15 Quality management 17 Product development management 20 Expansion management 22 Strategic steps toward the on demand business 25 Conclusion 25 About the authors 26 About IBM Business Consulting Services 26 References Methodology The information, data and opinions presented in this paper are based on a series of interviews that IBM Business Consulting Services held with...
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...Topic One: Operations Students Learn to: Examine contemporary business issues to: * Discuss the balance between cost and quality in operations strategy Cost and quality are two performance objectives of a business. Cost and quality generally oppose each other as performance objectives as for a business to achieve quality this will generally cost money and then increase costs. * Examine the impact of globalisation on operations strategy * Identify the breadth of government policies that affect operations management * Explain why corporate social responsibility is a key concern in operations management Investigate aspects of business using hypothetical situations and actual business case studies to: * Describe the features of operations management for businesses in a tertiary industry * Assess the relationship between operations and the other key business function in two actual businesses * Explain how operations strategy van help a business sustain its competitive advantage * Recommend possible operations strategies for one hypothetical business Students Learn About Role of operations management * Strategic role of operations management – cost leadership, good/service differentiation A businesses competitive advantage refers to the features implemented by a business that create an advantage over its competitors. A business can make long-term (strategic), medium term (), or short term () decisions. Efficiency refers to achieving...
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...! “If I want you to like me, should I be like you or unlike you? The effect of prior positive interaction with the group on conformity and distinctiveness in consumer decision making.” ! Name: Lavinia Rusu Student ID: 4485335 ! ! Table of Contents ! 1. Abstract .....................................................................................2 2. Introduction ................................................................................3 3. Summary of Article ........................................................................3 a. Conformity. Distinctiveness. Interaction within a group .................3 b. Experiment .........................................................................4 c. Structure ............................................................................5 4. Analysis. Conformity vs. Distinctiveness.............................................5 5. Global Business Consumer Behaviour .................................................8 6. Conclusions .................................................................................9 7. References.................................................................................10 8. Bibliography ..............................................................................11 ! ! ! ! ! ! ! ! !1 ! 1. Abstract The following report has the aim of critically analysing the “If I want you to like me, should I be like you or unlike you? The effect of prior positive interaction with the group on conformity...
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...origins, immediate past and immediate future (2004 onwards). As a result, the note provides insights into the evolution of barriers to enter and exit the industry for prescription pharmaceuticals, while aiming to help students to recognise how to set boundaries for an industry. This is a detailed industry note on the “ethical” pharmaceutical industry which provides an opportunity to analyse key success factors of major players. The note centres on a descriptive overview of the predominant issues in the three major Triad market areas: the US, Europe and Japan (although major issues in emerging markets are also mentioned). The note covers the overall industry environment with in-depth discussion of the driving forces in the industry such as globalisation (in particular global regulatory issues, changing world demographics and worldwide pricing disparities); development of new technology; the importance of time to market; and amalgamations. The case also examines issues around corporate social responsibility. 2. Position of the Case The pharmaceutical industry case study lends itself to: • assessing an organisation’s competitive environment, using the following analysis frameworks: – PESTEL, – Porter’s five forces, – Scenario planning; • • • discussing issues around co-operation and alliance; establishing the role of critical (winner) products for big drug companies; assessing the role of ethics in corporate strategy; and 187 © Pearson Education...
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...CSR and EDUCATION 1A Kalyani, Assistant Professor, NBN SSOCS, Pune Dist, koukuntla.kalyani@gmail.com 2Dr. K E Balachandrudu Professor & HOD-CSE, PRRMEC, SHABAD – R R Dist. Kebalu.chinni@gmail.com Abstract Universities, especially private ones are in need of strong corporate strategies in order to be successful in the highly competitive education industry. In this respect, Corporate Social Responsibility (CSR) becomes one of the highly preferred strategies by higher education institutions for gaining a good reputation and a competitive advantage. The major finding of the study is that in order for an institution to be successful in CSR strategy, CSR actions has to be internalized and must be supported by the management. In India companies like TATA and Birla are practicing the Corporate Social Responsibility (CSR) for decades , long before CSR become a popular basis. In spite of having such good glorious examples; In India CSR is in a very much budding stage. A lack of understanding, inadequately trained personnel, coverage, policy etc. further adds to the reach and effectiveness of CSR programs. Large no. of companies are undertaking these activities superficially and promoting/ highlighting the activities in Media. Keywords: Corporate social responsibility, higher education, competitive advantage, Societal Marketing, reputation. Introduction In a societal structure, we have many stakeholders, one amongst them are companies or Corporate Houses. These Corporate...
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