...Assignment #1 “Creative Destruction” 1) Describe the process of creative destruction in your words An essential feature of capitalism, creative destruction is a continuous process characterized by moments of radical innovation in products, production methods, organizational structures and markets that provide decisive advantages over legacy operations. This disrupts and fundamentally changes established industries, with the resulting efficiencies increasing the productive capacity of the economy. Even during the periods of comparative quiet that separate these rushes of innovation, creative destruction is still active as the results of previous innovations are absorbed and assimilated into the economy. The nature of creative destruction requires that the trajectory of the capitalist system is analyzed over the long run, as opposed to at a single point in time. In summary, creative destruction is the process whereby old economic systems are destroyed and replaced by decisively more efficient structures. 2) Explain how the typical entrepreneur behaves according to Schumpeter. What objective is he following? The typical entrepreneur is the businessman who is disciplined by the constant threat of future competition. He understands the process of creative destruction and the precarious nature of his present position and therefore, regardless of his current competitive landscape, his behavior approximates that of a firm engaged in perfect competition. This contrasts with...
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...Steve Jobs, the founder of Apple and the epitome of a creative leader has said, “Innovation distinguishes between a leader and a follower.” A creative leader is an individual who is able to guide a group towards the desired direction using innovative and original ideas. These leaders are generally better equipped to find effective solutions to complex problems and, overall, have a greater ability to impact others. It is no coincidence, then, that new businessmen are taking risks by proposing innovative ideas that have never been suggested before. Garrett Camp, the Canadian entrepreneur, who founded StumbleUpon and Uber, is of no exception. He is a true innovator at heart who began his successful career when he was a student at the University...
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...in itself. In Europe alone, the market of transportation employs 10 million people which represent an astounding 6 percent of the GDP as stated by the European Commission Department. Many businesses have innovated and came up with new ideas that changed the market such as Taxi offices. However, it was no other than Uber that invaded the market roughly in a period of 4 years to be worth $50 billion, as evaluated by Forbes, through integrating modern technology and life styles of people with its services. Uber became the world's largest car service by 2014 and was ranked the 48th most powerful company in America. The reasons that are believed to be behind Uber's success shall be discussed in this paper considering different factors. History It all started on a snowy night in Paris in 2008 when and Garret Camp could not get a cab and vowed to solve the problem with a brilliant app. Camp and Kalanick launched UberCab's mobile compatible application in San Francisco 2011. The company expanded throughout America until going global in 2013 with more than 300 cities in 58 countries at service. Uber does not own any cars and the drivers are not hired by Uber. Instead, Uber acts a portal...
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...UBER In the last few years technology has drastically changed the way some industries do business. The newest company changing the essential nature of their industry is Uber. Uber’s company mission confirms this ambition. They want, “to evolve the way the world moves by seamlessly connecting riders to drivers through their apps”. Uber’s aim is to make cities more accessible, open up more possibilities for riders, and provide more business for drivers. This desire to change the nature of the ride for hire business has challenged the regulatory framework of the taxi industry and has caused a substantial amount of controversy for the company. This controversy hasn’t harmed the company’s bottom line. In fact, Uber is so loved by its users that it has grown to a billion dollar company on word of mouth alone. As Uber launches into each new market, these controversies are played out in the court of public opinion, and the power of Uber supporters and the quality of the experience, create a large amount of defense for the company from the local community. This support has changed laws, helped make easy transitions for Uber in new cities, and through local and national media has reached even more potential customers who would use an innovative new company reinventing a transportation experience that is nearly universally disliked by people everywhere. Uber has been an outstanding innovator who is experiencing great growth and success. This unique ability leads to the question, what...
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...| | [uber] – HOW A TECHNOLOGY FIRM IS changing the traditional transportation model | | By Mark Boeckel, Brent Sprunger, Kevin Smith, and Emily WorkMarch 6th, 2012 | Executive Summary Uber is an App-Powered on-demand car service provider for smart phones. Notwithstanding its very unique name, investors have begun to take note of Uber during the past year as it has stolen market share from traditional transportation companies. We will analyze the value proposition of its technology and examine the differentiation Uber creates to stay ahead of both potential competition and the various cab laws and regulations across the United States and Europe. Based upon this analysis, we will provide detail to investors about various strategic choices the company should pursue in both the short and long-term. We will address the short-term roadblocks of government regulation as well as what future benchmarks the company should pursue to maintain its position as the leading car service app. The goal of this analysis is to provide current and potential investors with the necessary tools to assess an investment strategy in this startup. What is Uber? über [ü-bər]- being a superlative example of its kind or class Imagine you are a MBA student at work in downtown Chicago who just got off an endless two hour conference call at 5:30pm and realize that you are most likely going to be late for a midterm which starts at 6:00pm unless you can get a cab. However, you know...
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...| | [uber] – HOW A TECHNOLOGY FIRM IS changing the traditional transportation model | | By Mark Boeckel, Brent Sprunger, Kevin Smith, and Emily WorkMarch 6th, 2012 | Executive Summary Uber is an App-Powered on-demand car service provider for smart phones. Notwithstanding its very unique name, investors have begun to take note of Uber during the past year as it has stolen market share from traditional transportation companies. We will analyze the value proposition of its technology and examine the differentiation Uber creates to stay ahead of both potential competition and the various cab laws and regulations across the United States and Europe. Based upon this analysis, we will provide detail to investors about various strategic choices the company should pursue in both the short and long-term. We will address the short-term roadblocks of government regulation as well as what future benchmarks the company should pursue to maintain its position as the leading car service app. The goal of this analysis is to provide current and potential investors with the necessary tools to assess an investment strategy in this startup. What is Uber? über [ü-bər]- being a superlative example of its kind or class Imagine you are a MBA student at work in downtown Chicago who just got off an endless two hour conference call at 5:30pm and realize that you are most likely going to be late for a midterm which starts at 6:00pm unless you can get a cab. However, you know...
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...BUAD 307 April 20, 2015 Self-Driving Taxis (Uber): Secondary Market Research Proposal Description: Self-driving taxis will be provided by Uber and would create an additional type of transportation offered to consumers. These taxis will not require a human driver to be present at the wheel. The car will include the latest technology, including GPS systems and smart traffic control, which will get the customer from point A to point B upon request and with minimal delays. The concept of self-driving cars has become very popular in the recent years. About 10 years ago, people were suspect about the safety and overall feasibility of the self-driving machines, let alone self-driving taxis. Today, as more tech companies, like Google, are coming up with these cars and testing their performance, people become more willing to give up their seat at the wheel (Emarketer). Whenever new technology comes out in the market, marketers manipulate on how a specific customer segment will react to the product. Take for example, personal computers or internet and how nobody could have predicted that these products would become a commodity. Yet, today, people can’t picture living without them. Knowing what are the benefits and costs of the product make it easier to create a marketing plan for the product. Thus, this report will cover the following subtopics: 1. Benefits and costs of self-driving taxis 2. Potential pricing strategies and costs to the company 3. Characteristics...
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...CHAPTER 1 INTRODUCTION 1.1 INTRODUCTION Customer loyalty is both an attitudinal and behavioral tendency to favor one brand over all others, whether due to satisfaction with the product or service, its convenience or performance, or simply familiarity and comfort with the brand. Customer loyalty encourages consumers to shop more consistently, spend a greater share of wallet, and feel positive about a shopping experience, helping attract consumers to familiar brands in the face of a competitive environment. Types of Loyalty To understand customer loyalty one must recognize there are different types and degrees of loyalty. There is monogamous loyalty and there is polygamous. There are also behavioral and attitudinal aspects. A look at these concepts will clarify what “customer loyalty” really is, and this is important because having a solid understanding of the concept is critical if one hopes to design a reward program where loyalty enhancement is the primary objective. Monogamous vs. Polygamous Loyalty We live in a world of polygamous, not monogamous loyalty. For example, a person might shop at Safeway, Thrifty Foods and Save-on-Foods and unfailingly shop at all three. The person is then loyal to them, but not to others, and yet 100% loyal to none. In their book Loyalty Myths, Keiningham et al. (2005) suggest that “loyalty can in part be thought of as the probability a customer will purchase a brand on any particular purchase occasion. For example, a customer...
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...embracing the sharing economy? Ecovala © 2013 This report was produced by the Ecovala in December 2013. If no other source is specified, the contents of this report are under a Creative Commons Attribution – Non-Commercial - Share Alike 3.0 Unported License. You can find the full text of the license in this website. Ecovala Ecovala provides innovative solutions to private and public organisations to accelerate their transition towards sustainability. The organisation offers a wide range of services around sustainability and system innovation: from companies’ environmental assessment to sustainable strategic design, from new green services definition to effective implementation of CSR management. Based in Finland, the organisation is active throughout Europe, relying on an extensive network of like-minded organisations and sustainability experts. www.ecovala.eu Author Erwan Mouazan is director and founder of Ecovala. He develops and implements innovative sustainability solutions both at private and public level. Erwan owns a Master's degree in economics, with a specialization in international management. In the last 9 years, he has worked at international level in environmental NGOS and sustainable development / CSR consultancies. He is currently completing a master's degree in Creative Sustainability at Aalto University, Helsinki. Having lived and worked in France, the Netherlands, Belgium and Finland, Erwan brings his international background and sustainability...
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...Procter & Gamble Strategie: We are focused on strategies that we believe are right for the long- term health of the Company and will deliver total shareholder return in the top one-third of our peer group. The Company’s long-term financial targets are: * Grow organic sales 1% to 2% faster than market growth in the categories and geographies in which we compete, * Deliver earnings per share (EPS) growth of high single digits to low double digits, and * Generate free cash flow productivity of 90% or greater. In order to achieve these targets, we have created one over-arching strategy, inspired by our Purpose. At the heart of this strategy is innovating to win by touching and improving the lives of: * More Consumers. We are improving more consumers’ lives by innovating and expanding our product portfolio vertically, up and down value tiers. We continue to successfully develop and launch premium innovations focused on improving consumer value through enhanced performance. We are also serving consumers who are more price conscious through lower-priced offerings with superior performance versus other mid-tier and value-tier alternatives. * In More Parts of the World. We are improving lives in more parts of the world by innovating and expanding our existing product portfolio geographically into new markets. We are increasing our presence in developing markets and increasing the amount of sales from these markets by focusing on affordability...
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...8/10/2015 What's Next for Alexander Wang’s Democratic Empire? | Intelligence, #BoF500 | BoF INTELLIGENCE ș ģňǻẄ řěđňǻxěŀǺ řǿf ťxěŇ ș ťǻħẄ ěřį mĚ čįťǻřčǿměĐ Ǿvěř țħě ŀǻșț țěň ỳěǻřș, Ǻŀěxǻňđěř Ẅǻňģ ħǻș bųįŀț ǻ fǻșħįǿň ěmpįřě ẅįțħ ǻ břǻňđ ǻřčħįțěčțųřě țħǻț đěfįěș țħě čǿňvěňțįǿňș ǿf țřǻđįțįǿňǻŀ ŀųxųřỳ șțřǻțěģỳ. Ẅįțħ Bǻŀěňčįǻģǻ běħįňđ ħįm, ẅħǻț'ș ħįș pŀǻň fǿř țħě ňěxț đěčǻđě ǿf ħįș ǿẅň ŀǻběŀ? ŇĚẄ ỲǾŘĶ, Ųňįțěđ Șțǻțěș — Ǻ bųżżỳ ňěẅ đěșįģňěř bųșįňěșș čǻň ǿfțěň ǻțțřǻčț ǻ fǻňbǻșě ǿf ỳǿųňģ fǻșħįǿň đěvǿțěěș, ẅħǿ čřěǻțě ǻ fųșș ǿň șǿčįǻŀ měđįǻ, șňǻp ųp țħě břǻňđ’ș ěňțřỳ-ŀěvěŀ přǿđųčțș — ǻ $300 șķįřț, șǻỳ — ǿř șǻvě ųp fǿř șǿměțħįňģ mǿřě șųbșțǻňțįǻŀ. Bųț đěșįģňěřș ģřǿẅ ųp. Țħěįř șųppŀỳ čħǻįňș ģěț șŀįčķěř; țħěįř mǻțěřįǻŀș běčǿmě mǿřě čǿmpŀěx; ǻňđ, șǿměțįměș, țħěỳ fįňđ įňvěșțměňț. Běfǿřě ỳǿų ķňǿẅ įț, țħǻț bųżżỳ ňěẅ bųșįňěșș įș fǻșț běčǿmįňģ ǻ “ģŀǿbǻŀ ŀųxųřỳ břǻňđ” ǻňđ, șǿměẅħěřě ǻŀǿňģ țħě ẅǻỳ, įț běčǿměș ųňǻffǿřđǻbŀě fǿř įțș ǿřįģįňǻŀ čųșțǿměřș. Ňǿț Ǻŀěxǻňđěř Ẅǻňģ. Ħįģħ fǻșħįǿň, ŀǿẅ fǻșħįǿň; ŀųxųřỳ, mǻșș mǻřķěț — Ẅǻňģ đǿěș įț ǻŀŀ. Ǻ Ẅǻňģ fǻň čǻň bųỳ ǻ ŀěǻțħěř bǻțħřǿbě čǿǻț fǿř $2,995 ǿř ǻ ț-șħįřț fǿř $80. Șħě čǻň bųỳ țħě jěǻňș ǿř țħě șķįřț fǿř ǻřǿųňđ $300. Ǻňđ įf șħě ģǿț țǿ țħě șțǿřě běfǿřě įț șǿŀđ ǿųț, șħě čǿųŀđ ħǻvě șčǿřěđ ǻň Ǻŀěxǻňđěř Ẅǻňģ fǿř Ħ&M șẅěǻțșħįřț fǿř $59.95. Ẅǻňģ’ș įș ǻ đěmǿčřǻțįč fǻșħįǿň ěmpįřě. Ǻňđ, ẅįțħ 26 șțǿřěș ẅǿřŀđẅįđě ǻňđ řěpǿřțěđ řěvěňųěș ǿf ǿvěř $100 mįŀŀįǿň įň 2013, įț’ș ǿňě ǿf țħě bįģģěșț ǿf ǻňỳ ỳǿųňģ đěșįģňěř ẅǿřķįňģ țǿđǻỳ. Șǿ, ħǿẅ đįđ...
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...University of Newcastle pursuant to Part VB of the Copyright Act 1968 (the Act) The material in this communication may be subject to copyright under the Act. Any further copying or communication of this material by you may be the subject of copyright protection under the Act. Do not remove this notice. 1 Educational Objectives for Today • Foundations of the economy • Similarities and differences between analog and digital goods • Understand the basic concepts of the digital economy • A brief overview of the history of IT • Creative destruction and digital disruption | EBUS3050 | The Digital Economy| I. Introduction “These Google guys, they want to be billionaires and rock stars and go to conferences and all that. Let us see if they still want to run the business intwo to three years.” (Bill Gates, Microsoft, 2003) “$100 million is way to much to pay for Microsoft.” (IBM, 1982) Week 1 3 “Information technology and business are becoming inextricably interwoven. I don’t think anybody can talk meaningfully about one without the talking about the others.” (Bill Gates, Microsoft) “By 2005 or so, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine.” (Paul Krugman, Professor of Economics, 1998) “I think there is a world market for maybe five computers.” (Thomas Watson, IBM CEO, 1943) “There’s no chance that the iPhone is going to get any significant market share. No chance...
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...important. Good managers are becoming leaders not bosses, they are using knowledge to build learning organization and stimulates cultural change and innovation. The world is changing, what has been taught in business schools could become no longer relevant in future business word. In the traditional world of work the job of the manager was to control and limit people, seek for stability and productivity, but the way we work is overdue for change. Businesses wants to increase productivity and efficiency, attract the best people with specific skills for the job. Using the new technology companies wants to cut cost and create a greater freedom for their employees. Today, the need to encourage innovation and achieve high productivity, which has different skills, we need to engage employees hearts and minds as well as their work - the need to build trust, inspire commitment, lead changes, harness human creativity and enthusiasm, seek common visions and values sharing information and power. Teamwork, cooperation, participation and learning as guiding principles. Managers need to focus on developing, rather than control. Management is very complex job and requires a whole range of skills. Young people are most innovative and creative and the most suitable to bring new ideas. This is why education is very important in the future development. Managers must seek new challenges and think more widely in order to bring innovations throw the old sceptic barrier...
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...The Leading Luxury Brands 2008 Creating and managing brand valueTM The top 15 luxury leaders in 2008 Lessons from the leading luxury brands What is the future for luxury brands? The Leading Luxury Brands 2008 Introduction In marketing folklore, luxury brands were said to be immune to economic downturns. Their audience of über-wealthy loyalists meant they remained protected during tough economic times. Furthermore, as the global economy prospered, luxury brands attracted new segments of customers who were Jez Frampton is Interbrand’s Group Chief Executive. Jez leads the Interbrand network, shaping strategy and growth for its 36 worldwide offices and enhancing its brand value generating services to a prestigious roster of clients. its perfume line – proves that cutting back appears unavoidable even for a leading luxury brand. But at what long-term cost? While only twenty years ago, such measures may have slipped by unnoticed, the information age makes such moves too newsworthy, introducing new risks to luxury brands’ long-term value. Despite the difficulties of these times, the Leading Luxury Brands of 2008 must continue to stand strong. They need to remember what has made them endure over the years and they must continue to demonstrate the same degrees of determination, conviction, and creativity. suddenly able to afford a wealthier lifestyle. It should be no surprise then, that we saw so many luxury brands –Tiffany & Co. as an example – rush to make themselves...
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...Martin-Luther-Universität Halle-Wittenberg Juristische und Wirtschaftswissenschaftliche Fakultät Seminar Paper at the Chair of Marketing Summer Semester 2012 Market Entry Strategies in Retailing Cultural Goods. International Best Practise. Submitted by Written at Lea Valentine Frieda Steinlein Prof. Dr. D. Möhlenbruch *20.12.1989, Bayreuth Martin-Luther-Universität Matr. Nr. 210219076 Juristische und Wirtschaftswissenschaftliche Fakultät th Date of Submission: July 27 2012 Lehrstuhl Marketing und Handel 2 TABLE OF CONTENTS 1 INTRODUCTION – THE DEFINITION OF “CULTURAL GOODS” 3 2 STATE OF THE MARKETS OF CULTURAL GOODS IN GERMANY 4 2.1 GENERAL SITUATION IN GERMANY 4 2.2 ANALYSIS OF THE RETAIL SECTOR OF CULTURAL GOODS 5 2.2.1 INDEPENDENT BOOK SHOPS 6 2.2.2 INDEPENDENT MUSIC SHOPS 6 2.2.3 ART AND CRAFTS GALLERIES 7 3 STEPS TO ENTER THE RETAIL MARKET OF CULTURAL GOODS 7 4 INTERNATIONAL BEST PRACTISE FOR START-UPS 8 4.1 8 4.2 CREATING AN EXPERIENCE 9 4.3 5 “GLOCALISATION” OF CULTURAL RETAIL GOODS USING THE “WEB 2.0” 10 CONCLUSION AND CONSEQUENCES FOR START-UPS 11 LIST OF LITERATURE 12 LIST OF INTERNET WEBSITES 13 LIST OF DIAGRAMS 14 3 1 INTRODUCTION – THE DEFINITION OF “CULTURAL GOODS” Every day of our life we are encountering cultural goods and behaviour. Starting with the food we eat, the ways we communicate...
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