...created a cool new music player for “cool” people. The company established a high-cost narrow-focused market segment (Baltzan, 2011). The iPod and Apple would end up with a high perceived-value that meant, while the consumer always paid a premium price, he or she also always received an operationally superior product and great customer service. Applying Porter’s Five Factors Model, Apple demonstrates its superiority in the smartphone/tablet industry. While the company does not dominate the global market, it does dominate in profits. As a result of large profits, Apple has more financial leverage in negotiations with suppliers and manufacturers. Rivalries and substitutes are generally not an issue among existing Apple device users. Brand loyalty is extremely strong among Apple users. The examination of Apple through Porter’s lens reveals a company that is sustainable. Do you agree or disagree that Apple’s iTunes, iPhone apps, and iPad apps give the company a competitive advantage? Be sure to justify your answer. I agree that Apple’s iTunes, iPhone apps, and iPad apps (App Store) do give Apple a competitive advantage. However, to understand why, I believe you have to understand the success of the Apple brand and its products. Steve Jobs first created a competitive...
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...of a leader is someone who has followers.” • Warren Bennis: “Leadership is the capacity to translate vision into reality.” • Bill Gates: “As we look ahead into the next century, leaders will be those who empower others.” • John Maxwell: “Leadership is influence – nothing more, nothing less.” • Leadership is a process of social influence, which maximizes the efforts of others, towards the achievement of a goal. • Leadership isn’t management. Leadership and management are not synonymous. Leadership versus Management: What's the difference? LEADERSHIP STYLES What is emotional intelligence? • Ability to use your emotions, feelings, and moods (and those of others) as a source of information to help guide actions. • Emotional intelligence is more important than technical skills, or traditional cognitive skills, in shaping our leadership effectiveness. • An organization's success is directly related to the emotional intelligence level of its leaders. Emotional Intelligence Theory: The Four Elements Daniel Goleman, (2002) EMPATHY Empathy: The Human Connection to Patient Care - YouTube...
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...obr11544_ch10_359-411 9/8/06 11:33 AM REAL WORLD CASE F Page 386 2 Harrah’s Entertainment, LendingTree, DeepGreen Financial, and Cisco Systems: Successes and Challenges of Automated Decision Making or over half a century, the field of artificial intelligence (AI) has promised that computers would relieve managers and professionals of the need to make certain types of decisions. Computer programs would analyze data and make sound judgments whether it be to configure a complex computer, diagnose and treat a patient’s illness, or determine when to stir a big vat of soup with little or no human help. But automated decision making has been slow to materialize. Many early artificial intelligence applications were just solutions looking for problems, contributing little to improved organizational performance. In medicine, for example, doctors showed little interest in having machines diagnose their patients’ diseases. In the business sector, even when expert systems were directed at real issues, extracting the right kind of specialized knowledge from seasoned decision makers and maintaining it over time proved to be more difficult than anticipated. But now, automated decision making is finally coming of age. The new generation of applications, however, differs from prior AI-based decision support systems in several important respects. To begin with, the new systems are easier to create and manage than earlier ones, which leaned heavily on ...
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...How Costa Coffee would benefit and create additional value for their coffee store clients by using elements of Starbucks marketing strategy? Contents Introduction 3 Coffee Market in the UK 3 Market Leading Coffee Shops in the UK 4 Costa Coffee 4 Identifying competition 6 Starbucks 6 Conclusions 8 Recommendations 9 References 11 Appendix 1 13 Appendix 2 14 Appendix 3 15 Introduction Competitive marketing strategy is described by Kotler and Armstrong (2012) as a strategy which positions company against competition giving it the strongest possible strategic advantage. I have chosen Costa Coffee as it currently is the market leader in terms of most coffee retail outlets in the United Kingdom as demonstrated on appendix 1. Kotler and Armstrong (2012) point out that competitor analysis includes assessing competitions objectives, strategies, strengths and weaknesses, reaction patterns and selecting which competitors to attack or avoid. For he purposes of this assignment, I have identified competition based on the market share and customer view. Competitive marketing strategy is selected on the basis of it creating further value for the customer. Blythe (2009) concludes that competitive advantage is the outcome of effective...
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...Running head: SERVANT LEADERSHIP Servant Leadership Servant leaders have contributed many great and sympathetic attributes in modern society today. In order for an organization to make today in a world where the economy is in a down spiral, servant leadership is a must. A servant leader acknowledges the sacrifice of his followers, and then he assures them that there will be a better tomorrow. He also creates a sense of urgency with his followers. The servant leader is very active, versus being passive on the backburner. A servant leader refuses to be denied, because as a true servant leader he is concerned about his followers. Servant leadership is often associated with the Bible and religion. The idea of servant leadership originated from Robert Greenleaf although it can be dated back to ancient time. It is well used among various religion beliefs; Mother Theresa and the Reverend Dr. Martin Luther King, Jr. area two of the more popular religious icons and they were both great servant leaders (Ebener, 2011). Less consideration is given to the care of others because it is because it moved from personal involvement to something that is mediated by large corporations (2011). Mother Teresa was a head strong individual whom exhibited a wealth of values that far surpassed most people in our lifetime. She was known for her honesty, respectability, and commitment. She is loyal and dedicated to the people she serves. Mother Teresa was considered a true Saint and she far...
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...Chapter 01 Management Information Systems: Business Driven MIS True / False Questions 1. Companies today are successful when they combine the power of the information age with traditional business methods. True False 2. Competitive intelligence is information collected from multiple sources such as suppliers, customers, competitors, partners, and industries that analyzes patterns, trends, and relationships for strategic decision making. True False 3. The information age is the present time, during which infinite quantities of facts are widely available to anyone who can use a computer. True False 4. Technology provides countless business opportunities, but can also lead to pitfalls and traps for a business. True False 5. Top managers use social intelligence to define the future of the business, analyzing markets, industries and economies to determine the strategic direction the company must follow to remain unprofitable. True False 6. A variable is a business intelligence characteristic that stands for a value that cannot change over time. True False 7. Companies update business strategies continuously as internal and external environments change. True False 8. For an organization to succeed, every department or functional area must work independently to be most effective. True False 9. Porter's Five Forces Model outlines the process for a sales strategy. True False ...
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...marketing strategy and tactics is important for all companies. A company has to ensure that all areas chosen for expansion must be researched and ensure they can be successful in that area. Marketing research will provide what product a company can and cannot sell in a certain area. Marketing research can also provide what type of consumers or customers are in the area as well as what competitors. Companies with great marketing research will get one foot closer to being successful. This paper will address the importance of marketing research, areas where additional marketing research is needed, and analyze the importance of competitive intelligence and analysis all in regards to the development of Kudler Fine Foods’ market strategy and tactics. Marketing Objective Kudler Fine Foods have developed a strategic growth objective to increase loyalty and profitability of consumers. Kudler will need to perform marketing research...
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...smaller businesses by the dozens. Those days where a person works for a single company until retirement are long gone. Retirement funds, 401k’s, investment accounts, and high efficiency technology dominate lunch counter conversations, versus our parent’s conversations about family matters and how the kids are doing. Something has been lost from those days where people actually cared about coworkers and each other. I’m sure if you would ask ten people for a reason for the lack of concern, you would get different responses. According to what I have learned through this course in Organization Behavior, all the case studies, and the research on personal and position power, I have concluded that people are not put first. This has lead to and lack of success in business as well as failures. In most recent times, Enron Corporation comes to mind, along with other companies that accepted government bailout money in order to avoid massive layoffs or closing altogether. My group in this course chose to do the group project on position power and personal power. My individual subtopic deals with how a manager with only position power affects his/her subordinates in the work environment. This term paper will deal specifically with leadership versus management. When one thinks of power in corporate America, leadership or a lack there of comes to mind. I will distinguish the difference between traditional managers and leaders. This subject was of particular interest to me because...
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...Introduction Managers in the twenty-first century are being challenged to operate in a complex, interdependent, and dynamic global environment. A discussion on globalization should first begin with a definition. Globalization is a process of international trade, investment among people, organisations and governments from different countries (Chen, 1999). This process has effects on the environment, culture, political systems, and economic development around the world (Deresky, 2008). Due to globalization, the international dimension of management has become a major challenge to countries, institutions and people. International management is becoming more important within the academic setting. International management is a process of developing strategies, designing and operating systems, and working with people around the world to ensure sustained competitive advantage (Sepehri, 2010, as cited in Lecture notes 1). This essay identifies the challenges of operating in different national cultures for international managers by using Hofstede’s theory. In addition, the essay explains international skills and knowledges required by managers to be successful in different countries. Cultural Value Dimensions Culture in a global economy is one of the most important factors in global economy. In international management research, Hofstede defined culture as "…the collective programming of the mind which distinguishes the members of one group or category of people from those of another"...
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...Conscious Capitalism: A Reader’s Reflection In their collaboration, Conscious Capitalism: Liberating the Heroic Spirit of Business, both John Mackey and Raj Sisodia outline and discuss the problems plaguing sizeable business, while sharing their own knowledge and experiences. Throughout, they also continuously encourage socially responsible values in all business organizations. Citing decentralization and stakeholder empowerment, Mackey and Sisodia argue that mans’ inherent goodwill can not only sustain capitalism, but grow with it. The authors formulate their contentions into four models, also known as ‘Tenets,’ which are interconnected, yet interdependent: Higher Purpose; Stakeholder Integration; Conscious Leadership; and, Conscious Culture and Management. The first tenant, Higher Purpose, focuses on searching for meaning, and nurturing the business’ guiding principles. Its purpose is to guide stakeholders with clarity and conviction, but only if the value is simple and clearly defined. Though the authors note ‘purpose, mission, and vision’, they further clarify the distinctions by citing Jerry Porra, quoted in Lan Liu’s Conversation on Leadership: Wisdom from Global Management Gurus: Purpose refers to the difference you are trying to make in the world, mission is the core strategy that must be undertaken to fulfill that purpose, and vision is a vivid, imaginative conception or view of how the world will look once your purpose had been largely realized (47). This...
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...Assignment 4: Data Mining CIS 500 Dr. Besharatian Submitted by: Eric Spurbeck December 7, 2013 Abstract This paper will discuss the process of data mining, how it is used, for what purpose it is used and what information can be gathered from the data, which is compiled from data mining. Assignment 4: Data Mining Webopedia (2013) defines data mining as, "A class of database applications that look for hidden patterns in a group of data that can be used to predict future behavior. For example, data mining software can help retail companies find customers with common interests." This means that large groups of data that is derived by information obtained through customers, customer purchases and customer buying habits. Businesses use this information for a variety of reasons; it is used for purchasing merchandise, tracking how certain merchandise is selling and even customers buying habits. Webopedia goes on to state that "data mining is popular in the science and mathematical fields but also is utilized increasingly by marketers trying to distill useful consumer data from Web sites." Predictive analytics are used to understand customer's behaviors, according to the article Predictive Analytics with Data Mining: How It Works (Siegel, Feb. 2005) it describes how this method has a predictor. This is "a single value measured for each customer" this is based on the customers purchased over a period and sets higher values for the most recent customer purchases. The...
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...------------------------------------------------- leadership: being an effective project manager Objectives a. To create an awareness of the network of relationships that need to be managed to be a successful project manager b. To identify the “currencies” a project manager can use to influence others c. To encourage students to engage in MBWA d. To highlight the importance of maintaining positive relationships with project sponsors e. To understand and discuss the importance of building trust for project success f. To identify some of the qualities of an effective project manager. 1. Managing versus Leading a Project 1.1 Managing—coping with complexity * Formulate plans and objectives * Monitor results * Take corrective action * Expedite activities * Solve technical problems * Serve as peacemaker * Make tradeoffs among time, costs, and project scope 1.2 Leading—coping with change * Recognize the need to change to keep the project on track * Initiate change * Provide direction and motivation * Innovate and adapt as necessary * Integrate assigned resources 2. Project Management Maxims: 3.1 You can’t do it all and get it all done 1.1.1. Projects usually involve a vast web of relationships. 3.2 Hands-on work is not the same as leading. 3.3.1 More pressure and more involvement can reduce...
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...customer. These organizations strategically segment the market and target each group separately. They build a very strong bond with each group so that they know exactly how the customer will respond to marketing activities. They analyze the activities of the competitors well enough to develop a competitive edge over its competitors and are very futuristic. They win the mind share of customers and become the champion of customers, so that by no means can competitors capture their customers. They have a rich pipeline of product improvements and new products which enables the organization to strengthen its brands further. These organizations also focuses on SMART Marketing, Marketing Mix, and Objectives while identifying any variances in actual versus planned business performance and plans well ahead the actions it should take to exploit the situation. They know precisely the Return on Investment for each marketing mix element and drive and lead the development of strategic ideas to stimulate incremental growth. Further they analyze and assess all activities for lessons learned and sets high standards for the organization. World class organizations focus on the customer and do what they have to, to create a world class experience at every customer touch point. Getting Sales is the toughest task for organizations, but even...
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...Consumer Passion Bernadette Giene Cain BUS642: Business Research Methods & Tools Instructor Ashish Godbole November 3, 2014 “A marketing philosophy should include a concern for the customers; needs and wants, an appreciation of the benefits and satisfactions which are looked for and a genuine effort to establish a dialogue and build a long-term relationship. The establishment of mutually satisfying exchange relationships, seen as the true essence of marketing requires that customers get value from the actions of marketing, allowing companies to gain value in return” (Heath, M.P., & Heath, M. 2008.). The objective of every company is to either sell a product or service. To do so requires an understanding of the consumer, their wants, needs and desires. Once you have that understanding, you must make your company stand out from the others, and get that consumer to purchase from you. Sales can be a roller coaster, in that it can fluctuate various times throughout the year, or even month. There are uncontrollable factors that can affect the amount of sales, such as economy, rival products, and even product placement. As a manager, it is our job to understand why the fluctuations occur, and what we can do to stabilize our sales without a drastic loss. The reason for choosing this research topic is to have a better understanding of what affects sales, and possibilities of how sales can drop drastically without a noticeable cause. In September 2013, my location...
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...tools criticize the old brand concept and focus on the most efficient techniques to serve the most profitable customers. They claim that conquering new clients is of no value any more: profitability will come from mastering databases and loyalty programmes. Despite this, managers keep on attending conferences on brand management. Why haven’t they been convinced that brand management is an outdated tool? They have learnt that all these useful techniques soon lose their potential to create a lasting competitive advantage and Central University College is no exception. The more they are diffused and shared, the more they become a standard, used by all competitors. What is customer equity without brand equity? There are very few strategic assets available to a company or and institution that can provide a long-lasting competitive advantage, and even then the time span of the advantage is getting shorter. Brands are one of them, along with R&D, a real consumer orientation, an efficiency culture (cost cutting), employee involvement, and the capacity to change and react rapidly. This is the mantra of Wal-Mart, Starbucks, Apple and Zara. Managers have also rediscovered that the best kind of loyalty is brand loyalty, not price loyalty or bargain loyalty, even though as a first step it is useful to create...
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