...Business and Innovation in Networked Economy Course Background and Introduction The dynamic of our society, and particularly our new economy, is increasingly obeying the logic of networks. Understanding how networks work will be the key to understanding how the economy works. We are connecting everything to everything. Businesses and governments that are able to effectively employ information and communication technologies find more sophisticated and efficient ways of managing their external relationships and communications. This growing ICT usage helps form the critical mass of electronic transactions which supports a networked economy, both in terms of the network size and the demand for associated goods, services, labor and policy reform. The critical characteristic of the networked economy is a radical decentralization of physical capital necessary for the production, storage, distribution, and processing of information, knowledge, and culture. This decentralization has caused a radical distribution of the practical capability to act in these areas, creating new levels of efficacy for individuals, who increasingly shift from being consumers to being users and producers. Individuals have now become capable of doing much more for themselves and for others, both alone and in vastly more effective loose collaborations with others. In the industrial economy, hobbyists, no matter how committed, could not come together on the weekend and compete with the General Motors of...
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...enables the company to detect discontinuous change early, interpret the consequences for the company, and formulate effective responses to ensure the long-term survival and success of the company (Rene Rohrbeck, 2011) In particular, corporate foresight activities are an increasingly important tool to make better long-term decisions, support innovation activities, strategic planning by identifying the emerging technologies and trends which would create the future scenarios. In brief, corporate foresight can be expected to be a mechanism that enables companies to profit from fundamental change. Today, when we critically evaluate the success of the foresight activities planned and executed in the past we are generally answering the question to learn “ how accurate have been in fore sighting the change” rather than trying to understand if this foresight activity has added any value to the growth or success of the corporate. Consequently, in this study the author sheds light on the value creation from corporate-foresight activities and methods and practices used in different companies for corporate foresight. The paper focuses on the data from 20 case studies to assess if potential value contribution is done through the corporate foresight activities. Corporate...
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...CHAPTER I INTRODUCTION 1. Background of Case Study Selection Differentiated strategy is the strategy pursued by the company to produce products that are different or unique compared to competitors' products. Researchers are interested in doing research on the company because researcher wanted to learn more about controls for differentiated strategies, both theoretical and practical. Minnesota Mining & Manufacturing Corporation (3M) is one of the companies that have successfully implemented differentiated product strategy that gives priority to innovation as a competitive advantage offered. This company believes that innovation to be the cornerstone of 3M’s future success. Current management has continued to embrace and expand these policies and philosophies. That is why researchers interested in evaluating policies and 3 M that philosophy is based on the innovation in the implementation of the strategy of differentiation 2. Motivation Motivation researchers conducted a study of control for differentiated strategies in Minnesota Mining & Manufacturing Corporation (3M) because the researchers wanted to know more about the factors that influenced the design of the system and also the policies and philosophy rooted in the innovations made by 3M Corporation. By studying and examining the existing policy and philosophy that is rooted in innovation from the company, researchers can get a clearer picture of how to do a proper evaluation and what steps...
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...Contents Preface Acknowledgments ix xiii PART ONE OVERVIEW OF STRATEGIC MANAGEMENT 1. Strategic Management The Nature and Value of Strategic Management Dimensions of Strategic Decisions 4 Formality in Strategic Management 9 Benefits of Strategic Management 11 Risks of Strategic Management 11 The Strategic Management Process 11 Strategic Management as a Process 16 Summary 18 Key Terms 19 Questions for Discussion 19 2 3 PART TWO STRATEGY FORMULATION 2. SM_Prelims.indd 17 Company Mission What is a Company Mission? 23 The Need for an Explicit Mission 24 Formulating a Mission 24 Basic Product or Service; Primary Market; Principal Technology Company Goals: Survival; Growth; Profitability 26 Company Philosophy 28 Public Image 29 Company Self-Concept 33 Newest Trends in Mission Components 33 An Exemplary Mission Statement 35 Boards of Directors 37 Agency Theory 38 22 25 2/8/2012 10:17:09 AM Contents How Agency Problems Occur 39 Problems That Can Result from Agency 39 Solutions to the Agency Problem 40 Summary 41 Key Terms 41 Questions for Discussion 41 Appendix A: Company Vision 43 Appendix B: BB&T Vision, Mission, and Purpose 3. 4. SM_Prelims.indd 18 44 Corporate Social Responsibility and Business Ethics The Stakeholder Approach to Social Responsibility 52 The Dynamics of Social Responsibility 54 Types of Social Responsibility 57 Corporate Social Responsibility and Profitability 60 Sarbanes-Oxley...
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...1. How long has Innovation been part of your organization’s management agenda? Less than 3 months 3 to 6 months 6 to 12 months One to two years Two to five years More than five years Is not currently on management’s agenda Don’t know * 2. Please elaborate on your answers (Optional) * 3. Which of the following are drivers for your organization to seek innovation? | Primary driver | Secondary driver | Not a driver | Don't know | Insufficient growth | Insufficient growth Primary driver | Insufficient growth Secondary driver | Insufficient growth Not a driver | Insufficient growth Don't know | Price pressures | Price pressures Primary driver | Price pressures Secondary driver | Price pressures Not a driver | Price pressures Don't know | Increased competition | Increased competition Primary driver | Increased competition Secondary driver | Increased competition Not a driver | Increased competition Don't know | Changing customer needs | Changing customer needs Primary driver | Changing customer needs Secondary driver | Changing customer needs Not a driver | Changing customer needs Don't know | Changing technology landscape | Changing technology landscape Primary driver | Changing technology landscape Secondary driver | Changing technology landscape Not a driver | Changing technology landscape Don't know | Need to develop new markets / segments | Need to develop new markets / segments Primary driver | Need to develop...
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...NAME / NOMBRE: STRATEGIC PRODUCT CREATION PROFESSORS / PROFESORES: T. Laseter TERM / TRIMESTRE: Second Term New products offer the lifeblood of any dynamic business organization. Given the increasing use of cross-functional teams in corporate product creation, you may have the opportunity to be a part of this critical process regardless of your planned functional focus. This course will draw upon the recently published book “Strategic Product Creation” (McGraw-Hill, December 2006) coauthored by the course professor. The book takes an executive view of managing corporate product development drawing upon the experiences of global organizations such as Disney Imagineering, Procter & Gamble, Mars Incorporated, Whirlpool Corporation, United Technologies, and IBM. The course will be largely case-based covering a range of industries from software development (Activision) to automotive (GM) but also include some hands on exercises and a group simulation. This course offers a general management view of product creation by exploring frameworks and case examples from a wide range of industries. It should serve students well who seek a career in a corporate environment or as a consultant serving large corporations. Broadly, the course will examine the key processes in corporate product creation including: Product Creation Leadership Product Idea Generation Technology Capabilities Product Creation Process Design The Competitive Product Portfolio People and Project...
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...STRATEGIC HUMAN CAPITAL USING BLUE OCEAN STRATEGY® (2-DAY WORKSHOP) Introduction Today’s business managers of any sized organization are facing the challenges of human capital especially after the economic depreciate. In order to get rid of the crisis, organizations need a comprehensive, coherent and timely strategy on promoting, measuring and assessing innovations in human capital strategy. As such, it has been a drastic difference in the focus of professionals to train and retrain their skill-set through higher education. This is particularly important in challenging times like now. The need to change, innovate and respond appropriately is no longer a luxury. It is a necessity for survival and relevance. The role of Human Capital is important and significant because of the positive correlation to economic growth and societal development. Hence, UCSI Blue Ocean Strategy® challenges these old paradigms and offers the Strategic Human Capital Using Blue Ocean Strategy® 2–Day Workshop. Through the workshop, participants will learn the skills they need to align human resources goals and budgets with their organizational mission. In addition, participants will also understand the role of metrics and data in identifying desired outcomes and measuring progress toward the identified outcomes. Objectives * To introduce Blue Ocean Strategy® systematic methodology in Strategic Human Capital Planning and Execution. * Master the new business administration of strategic human...
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...------------------------------------------------- Dyson Case Study Essay Introduction In “Inside Dyson: a distinctive company?”, Shepherd et al. (2011) gives details of the secret of Dyson’s success – the company specializing in innovative, design-heavy vacuum cleaners and other household appliances. The successes and failures of Dyson’s design efforts (from their successful vacuums to the 3-in-1 vacuums that did not test well with customers) are explored, as well as their unique perspective on business, which puts quality and innovation above anything else. 1. Using frameworks from the chapter, analyze the strategic capabilities of Dyson. The strategic capabilities of Dyson revolve primarily around a resource-based view of the strategy with a heavy focus on engineering design; they spend a tremendous amount of time developing and engineering prototypes for household products that seek to provide a twist to the typical device (e.g., vacuum cleaners that provide smooth turning around the corners, oscillating fans that “multiply” air, etc.) This creates a niche in what can be an overly-saturated market. Providing a unique spin of this sort on a product can offer tremendous advantages. Combine this with state-of-the-art, sleek design elements and bright, colorful exteriors, and Dyson creates a number of high-end, well-sought-after appliances. Dyson invests heavily in Chinese and Asian manufacturing in order to make their products cheaper, so that they can maintain profit margin...
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...Chapter 1—Strategic Management and Strategic Competitiveness TRUE/FALSE 1. The Opening Case shows that McDonald’s is one of the few firms able to achieve strategic competitiveness from its founding until the present time. ANS: F PTS: 1 DIF: Medium OBJ: 01-01 TYPE: application NOT: AACSB: Multicultural & Diversity | Management: Environmental Influence | Dierdorff & Rubin: Managing strategy and innovation 2. By focusing on product innovations and upgrades of its properties, McDonald’s was able to achieve strategic competitiveness and above average returns. ANS: T PTS: 1 DIF: Medium OBJ: 01-01 TYPE: application NOT: AACSB: Business Knowledge and Analytical Skills | Management: Strategy| Dierdorff & Rubin: Managing strategy and innovation 3. Strategic competitiveness is achieved when a firm successfully formulates and implements a value-creating strategy. ANS: T PTS: 1 DIF: Easy OBJ: 01-01 TYPE: knowledge NOT: AACSB: Business Knowledge & Analytical Skills | Management: Strategy | Dierdorff & Rubin: Managing strategy & innovation 4. Part of McDonald’s strategy was the choice that it would remain involved in additional food concepts such as Boston Market and Chipotle. ANS: T PTS: 1 DIF: Easy OBJ: 01-01 TYPE: application NOT: AACSB: Business Knowledge & Analytical Skills | Management: Strategy | Dierdorff & Rubin: Managing strategy & innovation 5. Alligator Enterprises has earned above-average returns since its founding five years ago. Since no other firm has challenged Alligator in...
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...1. Summary: Exploring value creation from the corporate foresight activity The article Exploring value creation from the corporate foresight activity explains in details, both technical and the human aspect, the value creation from the future research. As the future research involves a monitory as well the human capital the return on investment is an important debate. While discussing the return on investment the time line is also a concern that when the return of the present investment would be physically enjoyable. The paper starts with a brilliant introduction of the thesis statement and the author has argued the most common question “Have the predictions been accurate? ‘With the question ‘‘did our futures research create any value?’’ .Further in the paper the author have supported his argument with a literature review and empirical investigation. Based on the literature review the author have found out three main group of potential value creations (Rohrbeck 2011) • Trigger organizational responses, including identifying relevant external change, start new innovation initiatives and challenge innovation development to ensure state-of-the-art • Start and facilitate strategic discussions to enable strategic change, including challenge and change existing mental models, moderate strategic discussions, promote participation and support breaking away from path dependency • Identify and support acquisition of needed strategic resources, including identify resources, decide on...
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...the particular case of computer service companies, which can be seen as Knowledge Intensive Business Services (KIBS) firms connecting the sources of innovation (i.e. large multinationals, research laboratories, universities, etc.) to the individual needs of the local customers. In doing so they operate as mediators between the local cognitive requirements and the more generic knowledge available in the global environment. Since those companies base their competitiveness on the capability to manage knowledge flows among various actors, the formulation of their business strategies requires new approaches that directly focus on knowledge assets and relevant processes. The paper describes the results of a survey involving twenty-one computer service companies located in the Northeast of Italy. The study allows the user to draw useful schemes for the identification of knowledge-based strategies, which can be of use beyond the specific context of investigation. In particular, rather than proposing completely new models for knowledge-based strategic formulations, the paper analyses the way knowledge can be integrated into more traditional strategic frameworks. The assumption is that these approaches can be more comfortable and understandable by the management of companies whose business is strongly based on knowledge but don’t have deliberate knowledge management strategies. Keywords: knowledge-based strategy; business strategy; KIBS; computer services; case study 1. Introduction ...
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...Table of Contents: Abstract 1. Introduction- statement of problem 2. Two perspectives on SHRM (i) Best Practices (ii) Best Fit 3. Best approach in different contexts 4. Summary – Google case study 5. Contingency perspective of organizational theory and Justification for application Conclusion References 1. Introduction: - This report is based on a case study of Google’s HR practices. Google Inc. is located at Mountain View, California is not simply known for its unique workplace culture but it also known for its advance innovation approach and HR programs. The HR practices at Google which are named as ‘people operations’ is intended to describe that HR is not merely an administration but rather it makes sure the strong relationship between employee and employer. The case encourages discussion on whether the company’s culture is truly emphasis on attracting and motivating the best employees or it is with a business motive. In order to present critical review of the case study , the concept of HRM as a new strategic approach to the management of people is discussed and two different approaches “best practices” and “best fit” is explained. In the end of the report, the case study is presented from “best fit” HRM perspective .Thus this case study helps us to analyze the two different HRM approaches are applied in the organizations. 2. Two perspectives on SHRM: - HRM has experienced a drastic change over the last few years....
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...[pic] CASE ASSIGNMENT As the end of his first year comes to a close, George Buckley (CEO) is evaluating his strategic approach and its ability to drive desired results for 3M during the upcoming year. He has asked you to prepare a report assessing strategic performance during 2006 and to make recommendations for enhancing strategic competitiveness in 2007. You will have a 10 minute meeting with Buckley to highlight your findings, so you should prepare 3-5 Power Point slides to provide an overview of your written report and to summarize the results of your analysis and supporting exhibits. Your report and overview should address the following key strategic issues: 1. Establish criteria for judging strategic performance by comparing past successes and strategies. Use a Balanced Scorecard framework to make sure that both financial and strategic controls are used to assess performance. 2. Define the company's core competency. 3. Determine if the company has a sustainable competitive advantage. If you determine that a sustainable advantage exists, support your claim. If you find it lacking, recommend actions that would secure a sustainable competitive advantage. 4. Identify any external environmental forces that have strategic implications in the future. 5. Evaluate the success of 3M's strategy in 2006 based on the criteria identified for judging strategic performance. 6. Evaluate 3M's Acquisition strategy. 7. Recommend an integrated and coordinated...
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...mobile telephones is under serious threat from its competitors such Apple and the introduction of new Android based mobile phones. The company fell short in the smartphone era and its position as the number-one phone seller in the global market is under threat. The case study provides a brief analysis of what transpired at Nokia and how the strategy implemented by the management team from the period of the 1990s up to the 2010 led to the company losing its market shares at both ends of the mobile phone industry. During the period of 1991 and 1992 the company lost FM482million ($120 million) on its major business activities. In 1992 a new group chief executive, Jorma Ollila was appointed. Jorma Ollila’s mission was to formulate a strategy that was going to rescue the company from its losses, into a profitable organisation. The report focus on Nokia’s reason to select one area of development out of four, the significance of the introduction of new Android software for Nokia’s chosen strategy and the importance of management teams to strategic choice. In dealing with the first section on the study case , the author analysed the three elements of the strategy context used by the management team and then discussed strategic risks associated with focusing on the single development area out of four. Lynch (2012:421) defines strategy context as being concerned with the circumstances surrounding and influencing the way that a strategy develops and operates. The second section deals with...
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...The current issue and full text archive of this journal is available at www.emeraldinsight.com/1176-6093.htm Research in management accounting innovations An overview of its recent development Nur Haiza Muhammad Zawawi Department of Accounting and Finance, University of Malaysia Terengganu, Kuala Terengganu, Malaysia and School of Accounting, La Trobe University, Melbourne, Australia, and Management accounting innovations 505 Zahirul Hoque School of Accounting, La Trobe University, Melbourne, Australia Abstract Purpose – The purpose of paper is to present a review of the literature on management accounting innovations (MAIs). Specifically, it explores recent developments in research on MAIs and offers suggestions for future research. The review differs from existing reviews by its specific focus on MAIs and the recent time period covered. In this paper, MAIs refer to the adoption of “newer” or modern forms of management accounting systems such as activity-based costing (ABC), activity-based management, time-driven ABC, target costing, and balanced scorecards. Design/methodology/approach – The paper presents a review of findings from journal articles published in 22 notable accounting journals. Findings – The review finds that research on MAIs has intensified during the period 2000-2008, with the main focus on exploring the extent to which a host of organizational and environmental factors influence the implementation and use of MAIs in organizations. In addition, research...
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