...John D. Rockefeller.…the “Most Hated Man in the 19th Century”! No other person alive in the 19th century had such an enormous impact on the economy and history of America as did J.D. Rockefeller. J.D.’s reputation spans from being a ruthless businessperson to a thoughtful and giving philanthropist. Born on July 8, 1839, he came from a family with not much and lived the American dream, rising to success through his own wit and cunning, riding on the backs of none. His legacy is monumental; amassing the greatest private wealth of any American in history. His net worth in today’s dollars would be well over $350 billion dollars or 5 times more than the net worth of Bill Gates! Better yet, imagine $350 billion one dollar bills stacked on one on top of the other… this stack would be over 25,000 miles high. Pretty goal achievement for a boy, who at age eighteen had two lifetime goals…1. To earn $100,000 and 2. To live to be 100! J.D. is a native of Tioga County, New York, his grandfather, Godfrey, coming from Massachusetts and settling in Richford. In this village, John Davidson Rockefeller (J.D.) was born on July 8, 1839 to his mother Eliza a house maker and his father William (Devil Bill) Rockefeller. Devil Bill was a drifter, peddling oil products to cure cancer...Snake Oil that is! He was tall and fine looking, with a dominating personality, a great hunter, and an unusually good expert shooter. He was, too, a very shrewd, practical man and J.D often acknowledged...
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...by Congress in 2003 in the VISION 100 – Century of Aviation Reauthorization Act (JPDO, 2012). The JPDO has proposed replacing the old NAS structure of primarily ground-based navigation with robust satellite-enabled air traffic procedures and to supplement ground-based air traffic controller workload with advanced datalink and trajectory-based operations algorithms for de-conflicting aircraft on the ground and in the air. The hope is to reduce the required separation between aircraft and the decrease the human workload, without sacrificing safety. Department of Defense (DoD) leaders should consider lessons learned from past decisions with regard to cost avoidance versus cost savings following the smaller domestic airspace change, reduced vertical separation minimum (RVSM). The lost cost savings from...
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...Thomas C. Makemson BUSN 6120, Managerial Economics Spring 1, 20XX Section: XX Webster University March 2, 20xx CERTIFICATE OF AUTHORSHIP: I, xx, certify that I am the author. I have cited all sources from which I used data, ideas, or words, either quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course. ____________ 03/02/20xx Signature Date Today, Facebook, Linkedin, Twitter, MySpace are well-known social networking brand names that many of us have grown accustomed to making part of our daily routine, whether it be for staying in touch with friends, networking, or micro-blogging. Social networking tools have the potential to revolutionize e-commerce as we know it today through “social commerce” platforms. A 2011 study by Booz & Co estimates that social commerce is currently a $5 billion market with the potential to grow to $30 billion in five years (Booz & Co., 2011). Social commerce's transformational power lies in its personalization of the internet experience, connectivity with an individual’s network, and the dynamic customer data collection that can drive current and future marketing and sales efforts. In this paper, the author will introduce the social commerce concept, examine the social commerce market, explore the effect of social commerce on consumer behavior, discuss social commerce pricing strategies and valuation of social commerce networks, evaluate...
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...Define virtual integration- the use of the Internet to replace physical components of a company with information. b). Define direct model: he could bypass the dealer channel through which personal computers were then being sold. Instead, he would sell directly to customers and build products to order. In one swoop, Dell eliminated the reseller's markup and the costs and risks associated with carrying large inventories of finished goods. 2. How did Dell leverage relationships with both suppliers and customers to achieve integration? Small specialized companies developed to make a specific product that dell uses made it so that they don’t have to focus on that aspect of that business which they couldn’t afford and instead focus on improving delivering solutions and systems to the customers. They also have a deal with their suppliers where they have their design engineers work with their the supplier agrees to meet 25% of our volume require displays, and because of the long-term commitment we make to them, we'll get our displays year in and year out, even when there's more demand than supply. The supplier effectively becomes our partner. They assign their engineers to our design team, and we start to treat them as if they were part of the company. For example, when we launch a new product, their engineers are stationed right in our plants. If a customer calls in with a problem, we'll stop shipping product while they fix design flaws in real time. 3. How does Dell work with...
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...CASE ANALYSIS ON FORD MOTOR COMPANY Name: sunil sharma Madonna ID: Subject: Business Policy Subject Code: MGT_4950_WB_58_01_2014_10 Date of Submission: The Ford Motor Company Brief Profile The Ford Motor Companyis an American multinational automaker headquartered in Dearborn, Michigan, a suburb of Detroit. It was founded by Henry Ford and incorporated on June 16, 1903. The company sells automobiles and commercial vehicles under the Ford brand and luxury cars under the Lincoln brand. In the past it has also produced heavy trucks, tractors and automotive components. Ford owns small stakes in Mazda of Japan and Aston Martin of the United Kingdom. It is listed on the New York Stock Exchange and is controlled by the Ford family, although they have minority ownership. Ford Motor Company was founded in 1903 by Henry Ford in Detroit, MI. Not only did Ford revolutionize the development of the automobile as a product, he is also the visionary behind the idea of mass production. Ford's ability to make automobiles affordable for the masses is cited as a driving force behind both the automobile industry and the creation of a middle class in America. Ford introduced methods for large-scale manufacturing of cars and large-scale management of an industrial workforce using elaborately engineered manufacturing sequences typified by moving assembly lines; by 1914 these methods were known around the world as Fordism. Ford's former UK subsidiaries Jaguar and Land Rover, acquired in 1989...
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...Power of Virtual Integration: An Interview with Dell Computer’s Michael Dell by Joan Magretta Harvard Business Review Reprint 98208 The Power of V i r t ua l I n t e g r at i o n : A n I n t e rv i e w w i t h D e l l C o m p u t e r’ s Michael Dell b y J oa n M ag r e t ta H ow do you create a $12 billion company in just 1 3 years? Michael Dell began in 1984 with a simple business insight: he could by- pass the dealer channel through which personal computers were then being sold. Instead, he would sell directly to customers and build products to order. In one swoop, Dell eliminated the reseller’s markup and the costs and risks associated with carrying large inventories of finished goods. The formula became known as the direct business model, and it gave Dell Computer Corporation a substantial cost advantage. The direct model turned out to have other benefits that even Michael Dell couldn’t have anticipated when he founded his company. “You actually get to have a relationship with the customer,” he explains. “And that creates valuable information, which, in turn, allows us to leverage our relationships with both ARTWORK BY NATALIE ASCENCIOS Copyright © 1998 by the President and Fellows of Harvard College. All rights reserved. t h e p ow e r o f v i r t ua l i n t e g r at i o n : suppliers and customers. Couple that information with technology, and you have the infrastructure to revolutionize the fundamental business models of major...
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...at Wal-Mart (Chapter 4) ● How Wal-Mart Became a Cost Leader (Chapter 5) ● Wal-Mart’s Global Expansion (Chapter 6) ● WalMart Internally Ventures a New Kind of Retail Store (Chapter 8) ● Sam Walton’s Approach to Implementing Wal-Mart’s Strategy (Chapter 9) Strategy in Action Features A Strategic Shift at Microsoft (Chapter 1) ● The Agency Problem at Tyco (Chapter 2) ● Circumventing Entry Barriers into the Soft Drink Industry (Chapter 3) ● Learning Effects in Cardiac Surgery (Chapter 4) ● How to Make Money in the Vacuum Tube Business (Chapter 5) ● The Evolution of Strategy at Procter & Gamble (Chapter 6) ● Diversification at 3M: Leveraging Technology (Chapter 7) ● News Corp’s Successful Acquisition Strategy (Chapter 8) ● How to Flatten and Decentralize Structure (Chapter 9) Practicing Strategic Management Application-based activities intended to get your students thinking beyond the book. Small-Group Exercises Short experiential exercises that ask students to coordinate and collaborate on group work focused on an aspect of strategic management. Exploring the Web Internet exercises that require students to explore company websites and answer chapter-related questions. Designing a Planning System (Chapter 1) Evaluating Stakeholder Claims (Chapter 2) Competing with Microsoft (Chapter 3) Analyzing Competitive Advantage (Chapter 4) How to Keep the Salsa Hot (Chapter 5) Developing a Global Strategy (Chapter 6) Comparing Vertical Integration Strategies (Chapter 7) ● Identifying...
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...at Wal-Mart (Chapter 4) ● How Wal-Mart Became a Cost Leader (Chapter 5) ● Wal-Mart’s Global Expansion (Chapter 6) ● WalMart Internally Ventures a New Kind of Retail Store (Chapter 8) ● Sam Walton’s Approach to Implementing Wal-Mart’s Strategy (Chapter 9) Strategy in Action Features A Strategic Shift at Microsoft (Chapter 1) ● The Agency Problem at Tyco (Chapter 2) ● Circumventing Entry Barriers into the Soft Drink Industry (Chapter 3) ● Learning Effects in Cardiac Surgery (Chapter 4) ● How to Make Money in the Vacuum Tube Business (Chapter 5) ● The Evolution of Strategy at Procter & Gamble (Chapter 6) ● Diversification at 3M: Leveraging Technology (Chapter 7) ● News Corp’s Successful Acquisition Strategy (Chapter 8) ● How to Flatten and Decentralize Structure (Chapter 9) Practicing Strategic Management Application-based activities intended to get your students thinking beyond the book. Small-Group Exercises Short experiential exercises that ask students to coordinate and collaborate on group work focused on an aspect of strategic management. Exploring the Web Internet exercises that require students to explore company websites and answer chapter-related questions. Designing a Planning System (Chapter 1) Evaluating Stakeholder Claims (Chapter 2) Competing with Microsoft (Chapter 3) Analyzing Competitive Advantage (Chapter 4) How to Keep the Salsa Hot (Chapter 5) Developing a Global Strategy (Chapter 6) Comparing Vertical Integration Strategies (Chapter 7) ● Identifying...
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...Note: This article is posted here with the permission of Harvard Business School Publishing. For any further copying or posting, please contact permissions@hbsp.harvard.edu. If we are to grow as advanced technology grows, we must realize the new importance of . . . THE PROJECT MANAGER By Paul O. Gaddis In new and expanding fields like electronics, nucleonics, astronautics, avionics, and cryogenics, a new type of manager is being bred. Although he goes by many titles, the one most generally used is project manager. His role in modern industry deserves more scrutiny than it has received from students of management and professional managers. Generally speaking, the project manager's business is to create a product — a piece of advancedtechnology hardware. The primary tool available to him is the brainpower of men who are professional specialists in diverse fields. He uses this tool in all the phases of the creation of his product, from concept through the initial test operation and manufacturing stages. This article will consider those functions of management which receive special emphasis in advanced-technology industry: • • • What does a project manager in advancedtechnology industry do? What kind of man must he be? What training is prerequisite for success? In this kind of work the development phase is always substantial, since the essential function of the new industry is the adaptation of recent research findings to the solution of specific problems in creating a...
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...Associates, Inc., Morristown, New Jersey, USA Keywords Information systems, Transaction costs, Organizational design, Teams, E-commerce Abstract In 1998 J.P. Morgan's analysts forecast that the market for e-CRM (customer relationship management) solutions would grow rapidly. Since then more than 700 e-CRM firms have emerged. The convergence of information technologies caused enterprise information systems providers to add e-CRM functionality to their systems, thus further increasing the number of e-CRM suppliers. The proliferation of e-CRM concepts, models and technologies causes significant confusion and uncertainty. Corporate executives question the economic benefits of investing in multimillion dollar e-CRM projects, ponder about the right business and organizational models for e-CRM, and are uncertain which e-CRM models and technologies will prove both profitable and sustainable over time. With so many failed e-CRM initiatives some executives wonder whether e-CRM is not simply a hype. In the present paper what e-CRM is, from where the economic benefits from investing in e-CRM derive, and the evolution of alternative e-CRM models are elaborated. It is also argued that successful e-CRM projects are not narrowly departmental, but instead organization-wide initiatives. The paper presents a conceptual framework for e-CRM organizational architecture. The findings in the paper are based on e-CRM industry analysis, evaluation and work experience with over 50 e-CRM vendors, and on consulting...
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...2011 Due Diligence Report The Coca-Cola Company AC 600 Professor: John Kocikowski Keller Graduate School of Management 10/30/2011 Table of Contents Industry Overview 3 Corporate Overview 5 Organization and General Corporate Issues 6 Treasury 8 References 14 Executive Summary The diversity at the Coca-Cola Company is evident with their presence in more than 200 counties. They feel that they are empowered within their business structure as well as the communities they serve because of their differences. Their attribute their success to their consistent values. They understand that their future growth is dependent upon their ability to develop a worldwide team that is rich in its diversity of people, cultures and ideas. Knowing that diversity is not limited to the internal structure of an organization, Coca-Cola has used this same approach regarding their suppliers. Through their supplier diversity program they are building relationships with minority and women owned businesses by giving them equal access to procurement opportunities. Coca-Cola plays a major player in its industry, not only in the U.S, but also all over the globe. Coke is single handedly the most popular soft drink anywhere, beating out its competition, Pepsi Co. Overseas, Coke has established its empire from South America to Africa to all of Asia and Europe. Coke is the world's top soft-drink company. The Coca-Cola Company owns four of the top five soft-drink brands (Coca-Cola...
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...Global and Transnational Business: Strategy and Management Second Edition Global and Transnational Business: Strategy and Management Second Edition George Stonehouse Northumbria University David Campbell University of Newcastle-upon-Tyne Jim Hamill University of Strathclyde Tony Purdie Northumbria University Copyright # 2004 John Wiley & Sons Ltd, The Atrium, Southern Gate, Chichester, West Sussex PO19 8SQ, England Telephone (þ44) 1243 779777 Email (for orders and customer service enquiries): cs-books@wiley.co.uk Visit our Home Page on www.wileyeurope.com or www.wiley.com All Rights Reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except under the terms of the Copyright, Designs and Patents Act 1988 or under the terms of a licence issued by the Copyright Licensing Agency Ltd, 90 Tottenham Court Road, London W1T 4LP, UK, without the permission in writing of the Publisher. Requests to the Publisher should be addressed to the Permissions Department, John Wiley & Sons Ltd, The Atrium, Southern Gate, Chichester, West Sussex PO19 8SQ, England, or emailed to permreq@wiley.co.uk, or faxed to (þ44) 1243 770620. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold on the understanding that the Publisher is not engaged in rendering professional services...
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...assimilation can be social, economic, cultural, or political. But most of the people fear cultural and social assimilation as they believe this would have a negative impact on the existing culture of their society. Globalization therefore has mostly narrowed down to economic integration and this mainly happens through three channels; flow of finance, trade of goods and services and capital movement. Globalization is a term that includes a wide range of social and economic variations. It encompasses topics like the cultural changes, economics, finance trends, and global market expansion. There are positive and negative effects of globalization - it all comes as a package. Globalization helps in creating new markets and wealth, at the same time it is responsible for extensive suffering, disorder, and unrest. The great financial crisis that just happened is the biggest example of how negative globalization can turn. It clearly reveals the dangers of an unstable, deregulated, global economy. At the same time, this gave rise to important global initiatives, striving towards betterment. Globalization is a factor responsible for both repression and the social boom. What happens when there is a growing integration of economies across the globe? Majorly there have been positive impacts of this global phenomenon - through liberalization, privatization and globalization (LPG). Due to globalization, there has been significant flow of inward foreign direct investment. MNC companies are getting...
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...EJISDC (2004) 18, 1, 1-24 E – GOVERNMENT FOR DEVELOPING COUNTRIES: OPPORTUNITIES AND CHALLENGES Valentina (Dardha) Ndou Department of Business Administration University of Shkoder, Albania ndou@hotmail.com 1. INTRODUCTION The explosion of digital connectivity, the significant improvements in communication and information technologies and the enforced global competition are revolutionizing the way business is performed and the way organizations compete. A new, complex and rapidly changing economic order has emerged based on disruptive innovation, discontinuities, abrupt and seditious change. In this new landscape, knowledge constitutes the most important factor, while learning, which emerges through cooperation, together with the increased reliability and trust, is the most important process (Lundvall and Johnson, 1994). The competitive survival and ongoing sustenance of an organisation primarily depend on its ability to redefine and adopt continuously goals, purposes and its way of doing things (Malhotra, 2001). These trends suggest that private and public organizations have to reinvent themselves through ‘continuous non-linear innovation’ in order to sustain themselves and achieve strategic competitive advantage. The extant literature highlights the great potential of ICT tools for operational efficiency, cost reduction, quality of services, convenience, innovation and learning in private and public sectors. However, scholarly investigations have focused primarily on the...
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...J.C. Penney’s Real Problem: The Shrinking Middle Class * Rita McGrath April 12, 2013 Ron Johnson’s office seat has barely cooled off following his departure as business observers everywhere dissect what went so dreadfully wrong at J.C. Penney. The former Apple executive was too Silicon Valley for the Plano, Texas, retailer. He was arrogant. He didn’t test his ideas, maintaining the Apple mantra that customers don’t know what they want until you show it to them. He approved marketing campaigns that told loyal Penney’s shoppers that “you deserve to look better,” basically telling them that they looked less than glamorous wearing the brand they had trusted and been comfortable with for years. He hoarded information so that individual store merchandisers didn’t know how various lines were performing. He mocked J.C. Penney’s ways of doing things. He abandoned the discounting customers had come to expect from retailers. And he, and most of the team he recruited, were commuter leaders, jetting back to California after cramming in marathon work sessions at headquarters. These factors certainly couldn’t have helped. I think, however, there’s one major reason behind J.C. Penney’s sudden swoon that not enough commentators are picking up on. There’s one big reason JCP would never be “Bloomingdale’s for the mass market,” as Johnson wanted it to be, and that’s because the mass market is gone. Because the middle class is gone, or at least rapidly going. This reflects a troubling development...
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