...Innovating with Ingenuity Chapter 8, Innovating with Ingenuity, shows us how companies around the world have been innovating. It is important to understand what ingenuity really means. It is defined as the quality of being ingeniously inventive, creative, and practical; inventiveness. The chapter starts out with the quote, “When people ask me ‘What is your competitive advantage?’ I say, ‘The quality of our engineers.’” This was stated by Mauricio Botelho, President and CEO of Embraer (A successful Brazilian aircraft manufacturer) from 1995 to 2007. John Engler, president of the National Association of Manufacturers, in 2005 said that the United States is and remains on being the world’s frontrunner in innovation. He emphasizes that other countries are advancing in technology as enthusiastically as we are and that therefore we cannot assume we are safely ahead of the world. Throughout the chapter we are shown how challengers have been investing in innovation by capitalizing in research and development. Some examples included are companies like ZTE, a Chinese telecom equipment maker that spent 12% of its $3 billion 2006 revenue on research and development. In accordance to VentureOne, Venture capitalists invested $1.89 billion in Chinese companies in 2006. In total, from 2005 to 2006 there was a 34% increase in investments in Chinese information technology firms. Governments are also becoming aware of how important innovation is when it comes to modernization. For example, the Russian...
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...Innovating with Ingenuity Chapter 8, Innovating with Ingenuity, shows us how companies around the world have been innovating. It is important to understand what ingenuity really means. It is defined as the quality of being ingeniously inventive, creative, and practical; inventiveness. The chapter starts out with the quote, “When people ask me ‘What is your competitive advantage?’ I say, ‘The quality of our engineers.’” This was stated by Mauricio Botelho, President and CEO of Embraer (A successful Brazilian aircraft manufacturer) from 1995 to 2007. John Engler, president of the National Association of Manufacturers, in 2005 said that the United States is and remains on being the world’s frontrunner in innovation. He emphasizes that other countries are advancing in technology as enthusiastically as we are and that therefore we cannot assume we are safely ahead of the world. Throughout the chapter we are shown how challengers have been investing in innovation by capitalizing in research and development. Some examples included are companies like ZTE, a Chinese telecom equipment maker that spent 12% of its $3 billion 2006 revenue on research and development. In accordance to VentureOne, Venture capitalists invested $1.89 billion in Chinese companies in 2006. In total, from 2005 to 2006 there was a 34% increase in investments in Chinese information technology firms. Governments are also becoming aware of how important innovation is when it comes to modernization. For example, the...
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...Political In 2005, 52% of sales were outside of America. Apple has no control over relations with other countries due to America's war on Terrorism. Apple produces many of their products outside of the USA. This includes a list such as Ireland, China, Czech Republic, Korea. Political conflicts with any of these countries will have terrible effects on Apple INC. Once again, Apple has no control of the wars, and lack of communication or failed public relations with corresponding countries to the USA. Economic The Economic depression may have a serious impact on Apple sales and improvements in the company. Apple's products may be viewed by some as "luxury" products and a the inflation rate is high, while income is low and unemployment rates are increased the company could risk a severe loss in sales. As the U.S.D (u.s dollar) has lost some value the Apple corporation does not risk economic breakdown as they have purchased foreign currency. In fact, the decrease in the U.S.D has actually increased Apple's revenue on the market. Socio-Cultural The people's interactions from around the world has to due with globalization. Today's world is the way it is due to technology and a lot of it is due to Apple. It is the leader in computers, software, and cell phones and this is due to the quality and designs of the the products. Another large factor is the music industry, it has grown into the cyber world. iTunes is ahead of any other competitor in its class. Web piracy is a threat...
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...Messaging to Prepare for Future Challenges With the growth and expansion of HCLT, there are a few tweaks that need to accommodate these changes. Mr. Vineet Nayar wants to ensure that he’s not just the CEO, but he wants to incorporate all of his employees (or at least those willing) into the fold. We all know that communication is a must have in any business. Without communication, it can lead to many problems from the bottom of the company all the way to the top. With electronics becoming as flourishing as they are in the business world, one must find ways to connect and communicate when face to face isn’t possible. A vital means of attending to company concerns is through effective internal communication - downward, upward and horizontal. It helps increase job satisfaction, safety, productivity and profit and decrease absenteeism, grievances and turn over (Murphy, Hildebrandt & Thomas, 1962). At this point in time, Mr. Nayar is trying to expand the communication levels in his company. Portals are designed to provide more direct and easy access to information which promotes self-service, allowing employees to focus on their work and freeing HR resources for more strategic and value-added functions. (Felix, S., 2001) With that, he implemented a section under his value portal entitled My Blueprint. My Blueprint is an addition from the value portal which originally was for employees to build business relationships with their customers. Employees could generate and...
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...organization that aims to service its communities in returning all profit made into regenerating the community. According to the Banner Health this reinvestment goes towards new hospital beds, expanding patient care services, new physician services, new technology, maintaining existing equipment and facilities and paying employees’ salaries. By giving back to the community in such a large capacity, it enables both patients and physicians the incentive to continue utilizing the system that ultimately saves billions in healthcare revenue costs annually. Addressing the health care needs of citizens of the United States in the next decade is no small task. Like many hospitals and health care systems, Banner compiles data to highlight the ingenuity behind the machine that it banner and Medicare. The Care Management program that banner deploys gathers data from each of their twenty-five hospitals and measures the performance against national standards to improve how patient care is executed. Through finding strengths and weaknesses the health care is then reengineered and the weakness exemplified to provide for further improvement. “The $5 billion nonprofit system achieved this (net savings) by embracing the following four tenets in a cost reduction approach that is aligned with core values in healthcare—enlisting the empathy, collaboration, and engagement that characterize the best care delivery”(Dahlen & Bailey, 2013). Generally cutting corners and transformations...
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...Final Individual Assignment: Coca-Cola 1.) Q: What have been the key success factors for Coca Cola? A: According to an online Strategic Management lecture, the key success factors of Coca-Cola can be summed up as the following: strong global presence, licensed bottlers, high utilization of fixed assets, advertising and differentiation, well-recognized and cherished brand name, retail and distribution network, product innovation capabilities, and breadth of product line. Coca-Cola’s widespread product usage, throughout over 200 countries, demonstrates its global presence- proving why it has been such a powerful and dominating company. Maintaining strict contracts with licensed bottlers and utilizing specific bottling systems keeps the company diverse and progressive. The company also prospers greatly because of its buying/selling networks and numerous product lines. Varying from country to country, the company’s line provides options that would fit each unique consumer’s personal preferences. Coca-Cola’s particular product positioning aids its advertising strategies and helps to keep its name memorable and recognizable. From its holiday commercials to its catchy jingles, it’s no wonder why this brand is a household name. The innovation and creativity within have kept the company thriving for decades. 2.) Q: Where is Coca Cola vulnerable? What should they watch for? A: According to the critical Forbes.com article “Coca-Cola's Problems Reflect a Giant Losing Relevance”...
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...Florida agricultural and mechanical university | Best Marketing Strategy Ever! Steve Jobs Think Different / Crazy Ones Speech | Youtube Analysis Paper | | Aldranon English II | 7/11/2014 | Dr. Yvette Holmes Nelson Principles of Marketing Due Date: 7/16/2014 Aldranon English II Dr. Yvette Holmes Nelson Principles of Marketing 11 July 2014 The “Father of the Digital Revolution” Steve Paul Jobs was a pioneer and a visionary far beyond his time. He was an American entrepreneur, marketer and inventor that chaired several prestigious companies such as Apple Inc., Pixar and NeXT Inc. Rare video footage from 1980 depicts a young Steve Jobs conducting a seminar and providing valuable marketing advice to budding entrepreneurs. He explains the ups and downs of Apple and how the company secured pristine status among other elite brands in the world. Jobs commenced his speech with a powerful statement that captures the idea and the very essence of marketing. “Marketing is about values,” said Jobs (Raytracesvin 2013). Solomon, Marshall and Stuart states that value refers to the benefits a customer receives from buying a good or service (pg. 33). The principle of marketing applies to people just as they apply to cars, computers and clothing. We as individuals have market value; qualities that set a person apart from others and abilities other people want and need. Jobs states that we live in a “complicated and noisy world,” and getting a particular message across about ourselves...
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...VIEW MORE FROM THE August 2002 Issue EXPLORE THE ARCHIVE How much of innovation is inspiration, and how much is hard work? If it’s mainly the former, then management’s role is limited: Hire the right people, and get out of their way. If it’s largely the latter, management must play a more vigorous role: Establish the right roles and processes, set clear goals and relevant measures, and review progress at every step. Peter Drucker, with the masterly subtlety that is his trademark, comes down somewhere in the middle. Yes, he writes in this article, innovation is real work, and it can and should be managed like any other corporate function. But that doesn’t mean it’s the same as other business activities. Indeed, innovation is the work of knowing rather than doing. Drucker argues that most innovative business ideas come from methodically analyzing seven areas of opportunity, some of which lie within particular companies or industries and some of which lie in broader social or demographic trends. Astute managers will ensure that their organizations maintain a clear focus on all seven. But analysis will take you only so far. Once you’ve identified an attractive opportunity, you still need a leap of imagination to arrive at the right response—call it “functional inspiration.” Despite much discussion these days of the “entrepreneurial personality,” few of the entrepreneurs with whom I have worked during the past 30 years had such personalities. But I have known many people—salespeople...
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...ECONOMIC DEVELOPMENT IS CAUSED BY ENTREPRENEURSHIP AND INNOVATION HAS TO BE SUSTAINABLE Economic development is separate to entrepreneurship and innovation as it is usually the result of both products together. It refers to changes in living standards or welfare over time. Entrepreneurship and innovation are interlinked and if one of them is achieved, the other must also be. Entrepreneurship is defined as one who introduces “the carrying out of new combinations,” (Schumpeter, 1934, p.74) whereas, innovation is the introduction of a new good or service into the market and can be split into two types: “the first refers to a gradualistic movement as tastes and populations change and refinements in business are developed. The second refers to spontaneous, discrete or discontinuous, internally generated changes which cannot be progressively associated with other causes,” (Binks & Vale, 1990, p.23) therefore, the first is gradual and is described as incremental innovation and the second is spontaneous which would be regarded as radical innovation. Radical innovation is classed as more significant for economic development. It is the idea of a discrete product that changes living standards more so. For example, for the camera industry in 2004: “Kodak and Fuji were among the first to embrace digital imaging technology and currently dominate the digital camera industry. Polaroid, on the other hand, faltered in the introduction of a digital camera.” (Danneels, 2004, p.252) So, this...
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...The Discipline of Innovation by Peter F Drucker . Reprint r0208f August 2002 HBR Case Study The Sputtering R&D Machine Martha Craumer r0208a Voices Inspiring Innovation Creativity Under the Gun Teresa M. Amabile, Constance N. Hadley, and Steven J. Kramer r0208b r0208c The Failure -Tolerant Leader Richard Farson and Ralph Keyes r0208d r0208e Breaking Out of the Innovation Box John D. Wolpert Best of HBR The Discipline of Innovation Peter F Drucker . r0208f r0208g r0208h r0208j Research That Reinvents the Corporation John Seely Brown Tough-Minded Ways to Get Innovative Andrall E. Pearson Organizing for Innovation: When Is Virtual Virtuous? Henry W. Chesbrough and David J. Teece Creativity Is Not Enough Theodore Levitt r0208k In Closing Stumbling into Brilliance Danny Hillis r0208l BEST OF HBR 1985 The Discipline of Innovation by Peter F Drucker . How much of innovation is inspiration, and how much is hard work? If it’s mainly the former, then management’s role is limited: Hire the right people, and get out of their way. If it’s largely the latter, management must play a more vigorous role: Establish the right roles and processes, set clear goals and relevant measures, and review progress at every step. Peter Drucker, with the masterly subtlety that is his trademark, comes down somewhere in the middle. Yes, he writes in this article, innovation is real work, and it can and should be managed like any other corporate function. But that doesn’t mean it’s the...
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...EXECUTIVE SUMMARY Ingenuity and ambition from the late Steve Jobs and Stephen Wozniak were the driving forces for the beginnings of Apple in 1977, which was incorporated with a net worth of $250,000. It has since grown leaps and bounds to the Apple Inc. of today, employing 60,400 employees worldwide, with a net worth of $622.31 billion, placing it 56th among the Fortune 500 companies. The iPod revolution in 2000, to the iPhone in 2007 and most recently, the iPad in 2010, Apple has introduced, amidst much fanfare, ground-breaking products that revolutionized the markets since the start of the 21st century. This paper serves to provide some insight of a company that has been named Fortune magazine’s most admired company in the world for three consecutive years from 2008 to 2010. A strategic analysis will examine the opportunities and threats in the general environment and the company’s strengths and weaknesses. Apple operates in many aspects of consumer electronics, such as personal computers, mobile communication devices, digital music and video devices. To maintain their status in a highly competitive industry, Apple must not lose focus on the cornerstones of the company. They must continue building strong relationships, encourage innovation, and support strategic marketing. Brand management is also the key as they manage diverse products that have put them into new and extremely fast paced, ever changing markets. Business Intelligence Apple success in consumer...
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...Write a 3500 report on the following…. What is Human Resource management? How selection does happen in the organization? How does assessments happens I the organization? What is the role of HR in assessing the candidates? What are the measures to be taken while selecting and assessing the candidates for organization? 1.1 Human Resource Management: According to Susan M. Heathfield, this is in short referred as HRM. It is responsible for the personnel’s hiring, managing, directing workforce in the association. Sometimes line managers in the organization tend to perform HR Management. Payment, appointing, recital supervision, improvement of the association, security, wellness, remunerations, rousing the worker, communication, management, and instruction etc are to be performed by the Human Resource Management in the Organization. According to Civil Service Branch, December 1995, the success of any organization is fairly based on the HR as it is responsible for the in-taking of the suitable staff, training etc. A HRM is an organization’s deep-routed undertaking of the task depending on the requirement. It is responsible for ingestion of the personnel; develop along with supervising the workforce and present preeminent capability to improve the organization. Their most important task is to manage the personnel and they give out their effort with a better patron renovate and recital oriented ethnicity through prominence staff administration constantly. HRM proposes...
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...Qualities of a Strong Leader: Resourcefulness as the Basis Leadership Strength Strong leaders are consistently present in flourishing nations. Japan, for example, is one of the richest and most powerful countries in the world despite a lack of many natural assets. Africa, on the other hand, is the world’s poorest and most underdeveloped continent in the world despite overwhelming amounts of minerals, rich soil, forests, and several other natural resources. Struggling nations in the world, such as many African nations, are often plagued with a great deal of political turmoil and frequently lack the kind of leadership that exists in thriving states like Japan. A nation’s downfall or rise to power is due to a ruling body’s decision-making rather than resource availability, domestic lifestyles, or even luck. World leaders, as result, are under constant scrutiny from average citizens to pundits. Critics evaluating a leader’s strength do not think that strong leaders are people who simply have a lot of state power; an autocrat is not necessarily “strong.” Effective, strong leaders are considered “strong” because of their resourcefulness. Turmoil is inevitable, and a leader must be prepared for the worst. If French and American colonial leaders were unprepared to respond to the oppression they felt respectively from the French and British monarchies, neither the United States nor the French Republic, two very powerful states, would have ever been formed. Similarly, the decline of...
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...Amazon.com Tax Avoidance Business Strategy, How they did it, And how it affects me. Introduction: Amazon and Tax Avoidance Part I: Amazon Part II: Taxes in the U.S. Part III: The IRS/Penalty for Tax Avoidance Part IV: Amazon and Tax Avoidance Part V: Amazon in Europe Part VI: Amazon in 2014 Part VII: How does it affect me? Part VIII: Conclusion Introduction: The topic I choose to write about is how Amazon.com website avoided collecting sales taxes in the U.S. for nearly it whole existences. I’m going to introduce amazon and what the company is about and the role they played as more then successful online retailer. Then introduce the topic of taxes and state taxes, sales tax, and the importance collecting and paying taxes, and the benefits the country and its residents get for paying such taxes. The amazon company will then be analyze and in operating structure and design and learn how they avoided paying taxes in their home country and how they brought their operation over seas and did the same. And why this topic and subject matter is and should be severely important for future business owners and managers on business structuring operations. Part I: Amazon Amazon is the largest online retailer as of 2014. And how did they accomplish this? Jeff Bezo is the founder and amazon.com and it all started in his garage in the state Washington. Amazon first started off as an online bookstore and soon began to venture off to selling CD’s, DVD’s, and computer...
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...AFTER READING THIS CHAPTER, YOU SHOULD BE ABLE TO: 1 Differentiate between invention, innovation, and technological diffusion. 2 Explain how entrepreneurs and other innovators further technological advance. 3 Summarize how a firm determines its optimal amount of research and development (R&D). 4 Relate why firms can benefit from their innovation even though rivals have an incentive to imitate it. 5 Discuss the role of market structure in promoting technological advance. 6 Show how technological advance enhances productive efficiency and allocative efficiency. 11 WEB www.mcconnell19e.com 11W-1 Technology, R&D, and Efficiency • “Just do it!” In 1968 two entrepreneurs from Oregon developed a lightweight sport shoe and formed a new company called Nike, incorporating a “swoosh” logo (designed by a graduate student for $35). Today, Nike sells $18 billion worth of goods annually. • “Leap Ahead.” In 1967 neither Intel nor its product existed. Today it is the world’s largest producer of microprocessors for personal computers, with about $35 billion of annual sales. • “Save money, live better.” Expanding from a single store in 1962 to about 7000 stores worldwide today, Walmart’s annual revenue ($400 billion) exceeds that of General Motors or IBM. Nike, Intel, and Walmart owe much of their success to technological advance, broadly defined as new and better goods and services or new and better ways of producing or distributing them. Nike Bonus Web Chapter and Intel pioneered...
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