Leveraging Data, Information, and Knowledge for Competitive Advantage Essay

Utilizing Data, Information, and Knowledge for Competitive Advantage - Essay Example The arrangement at that point came out to be the term which is presently known as upper hand. The term implies that interior factor or item quality or basic achievement factor or the item itself or any assistance which one explicit association does best with regards to the others in a similar industry. (Expectation, 1997) When that edge is kept up after some time, not for all time, however for a lot of time, and when an observable measure of piece of the overall industry is grabbed by that specific organization, in light of that factor that solitary this organization has over its rivals, at that point that is known as the upper hand that one firm has in the business that it has a place with. Organizations are continually endeavoring to productively and viably use the assets that they have and increase an upper hand over the opponents that they have, since having one goes far in making the organization fruitful and hang out in the market, expanding the altruism both according to clien ts and every other partner related with the organization. As referenced above, such an upper hand isn't perpetual, consequently an organization ought not discharge the weight of rivalry once an upper hand has been picked up. Or maybe, they ought to constantly attempt to create themselves to accomplish the apex with regards to various elements, so an edge can be kept up after some time and with consistency. The executives Information Systems (MIS) are not the standard PC frameworks, since they represent considerable authority in giving the client examination of the various data frameworks that are synchronized with it and which deal with all the operational exercises which happen in the associations. Normally the day by day dynamic that a supervisor needs to experience is pretty much related with the those exercises which directly affect the incomes and liquidity of the organization, that is, the operational exercises. (Davenport, 2000) And in this way, the MIS frameworks utilize

Major Cultural And Societal Influence On Health †Free Samples

Here Are the 10 Most Expensive Commercials Ever Made

Here Are the 10 Most Expensive Commercials Ever Made Here Are the 10 Most Expensive Commercials Ever Made Here Are the 10 Most Expensive Commercials Ever MadeTwo things that a lot of these ads have in common are the Super Bowl and celebritiesâ€"which makes sense, as both those things are super expensive!With the New England Patriots suiting up for their fourth Super Bowl in five years, it’s nice to know that at least the commercials will be different this year.  And no matter whether we hate them or love them (or love them until we see them the 50th time at which point we start hating them), we can also count on the fact that a lot of those commercials will be stupid expensive.When researching this list of the 10 most expensive commercials of all time, it was no surprise that a lot of them premiered during the Super Bowlâ€"although we didn’t expect so many of them to have premiered during the same Super Bowl. That was surprising.And yet, the most expensive ad on here actually had nothing to do with the big game. Which commercial was that? Read on and find out!10. Microsoft “Empowe ring” (2014) $8 millionWatch it on YouTube.This is the first of many, many Super Bowl ads you will see on this list. And that makes sense: When you’re paying millions and millions of dollars just to air your ad during the Super Bowl, you might as well go all out on the spot, itself.This advertisement, which premiered during the 2014 Super Bowl, highlights the many innovations being powered by Microsoft’s technology, with special emphasis on technology like prosthetic limbs and hearing aids that improve people’s everyday quality of life.The ad stars former NFL player Steve Gleason of the New Orleans Saints, who lives with ALS and uses Microsoft hardware and software to communicate with friends and family members. Although its one of the least flashy of the ads on this listâ€"despite it’s $8 million dollar price tagâ€"it might actually be the most effective. And it’s certainly the most moving.9. Kia The Truth (2014) $8 millionWatch it on YouTube.One of three ads on that list that came in at a cool $8 million dollars eachâ€"and one of four that premiered during the 2014 Super Bowlâ€"this advertisement from Kia starred actor Laurence Fishburne reprising his role as Morpheus from The Matrix.Instead of promising to free young Neo from the fantasy prison world created by his machine overlords, it appears Mr. Morpheus is now concerned with getting an upscale couple into a luxurious Kia sedan. And then he serenades them with opera. As you might able to tell from this description, the ad doesn’t take itself too seriously.Between paying for Fishburne’s participation, acquiring the rights to use his Matrix character, and the pretty-stellar special effects used when Morpheus … umm … makes the world explode with his awesome opera singing, this is one ad where you can see exactly where all the money went.8. Jaguar British Villains (2014) $8 millionWatch it on YouTube.The previous entry on this list paid to hire one famous actor, whereas this entry p aid to hire three: Tom Hiddleston, Mark Strong, and Academy-Award winner Sir Ben Kingsley.The ad casts all three as stereotypically suave British bad guys, each calmly (and menacingly) making the point that with great villainy comes great style and panache. Of course, the trio dryly notes, this means they all drive Jaguars.In addition to casting three expensive actors, this ad looks like a million bucks. Well, if we’re being honest, probably more than a million bucks. Between Kingsley’s opulent mansion and Hiddleston’s helicopter ride, Strong’s white Jaguar actually be most cost-effective part of the entire affair.7. Pepsi Joy of Pepsi  (2001) $8.1 millionWatch it on YouTube.This wasn’t the first super expensive commercial ever made, but it certainly was the one that made the largest cultural impact. Translation: This ad was everywhere. For what seemed like forever. Years before a young man pleaded with the world to leave Britney alone, all we wanted was for Britney and Pepsi to leave us alone.When this ad dropped at the 2001 Super Bowl, Britney Spears was at the absolute height of her powers. Pepsi harnessed her teeny-bopper mega-stardom and created what was essentially a Britney Spears music video about “the joy of Pepsi.” And lest we forget, the ad also featured a cameo from Senator Bob Dole that, well, made about as little sense then as it does today.6. Carlton Draught Skytroop Show  (2008)  $9 million.Watch it on YouTube.If you don’t remember this ad, don’t worry. Carlton Draught is an Australian beer company, so most of their commercials don’t make it up here to the northern hemisphere, no matter how expensive they are.And wow was this one expensive! The ad stars a whole fleet of skydivers who jump out of a giant beer can as part of a stadium stunt. Their routine all goes according to plan, but unfortunately, the beer can ends up getting swept through the neighboring suburbs, causing a great deal of destruction and panic along the way.The price tag for this commercial was $9 million, which, given the sky-diving sequences and the scenes of the beer can plowing through houses and cars, isn’t surprising. But it’s price tag pales in comparison to the next ad on this list.5. Bud Light Up for Whatever (2014) $12 million.Watch it on YouTube.The 2014 Super Bowl strikes again! This hidden-camera extravaganza ad chronicles one crazy night in the life of a guy named Ian Rapoport, who finds himself buoyed from one awesome situation to another (a limo ride with Reggie Watts, an elevator with Don Cheadle and a llama, a table tennis match with Arnold Schwarzenegger) all because he’s “up for whatever.”Although Bud Light’s “Up for Whatever” campaign would eventually run aground on the shoals of controversy, this initial ad is a charming, amiable bit of wish fulfillment. Although it cost Bud Light a 120 million pretty pennies to produce, we can all agree that the ad makes a heck of a lot more sense than any of their current “Dilly, Dilly” spots.4. Chrysler Imported From Detroit (2011) $12 MillionWatch it on YouTube.One common thread you’ll find amongst many of these ads is celebrities. After all, there’s only so much money you can spend when making an ad that’s two minutes long, max. Unless you pull a Joker and start literally setting cash on fire, the easiest way to make one of the most expensive commercials of all time is to pay some famous person a truckload of money to star in it.The celebrity, in this case, is Eminem. And while he might seem like an odd choice of pitchman, his presence here is pretty perfect. To introduce the luxury Chrysler 200, this ad meditates on the gritty history of Detroit, where both Chrysler and Eminem share a long and colorful past. The ad’s thesis is best captured in the line, “the hottest fires make the hardest steel.”3. Aviva Names (2008) $13.4 millionWatch it on YouTube.When British insurance company Norwich Union changed its name to Aviva in 2008, they wanted people to notice. So they spent over $13 million dollars hiring Bruce Willis, Ringo Starr, Elle McPherson, and Alice Cooper to star in an advert about how important their name changes had been on the road to stardom.Out of every ad on this list, this one looks the cheapest. It’s not a glossy, high-end extravaganza, and doesn’t feature any ravishing shots of cars or sodas or Don Cheadle’s llama; it is isn’t much more than a bunch of famous people talking to the camera. Even when they’re digitally inserted into their own movies or news footage, it doesn’t look great.But still, four celebrities! Four incredibly famous celebrities! You can’t say the money isn’t on the screen. It’s right there, and it looks like Ringo Starr.2. Guinness Tipping Point (2007) $16 millionWatch it on YouTube.Just because a commercial is expensive, doesn’t mean it’s necessarily inventive. But this $16 million dollar ad from Guinness is a witty delight.Film ed on location in the tiny Argentinean village of Iruya (not cheap!) the add begins with a cascading series of dominoes that escalates into refrigerators and flaming cars knocking into each other, all leading up to a large statue of a Guinness pint.Combining expensive material costs with a need for precision in order to get every shot just right, this ad goes to show how that a large budget is great, but an awesome idea is even better.1. Chanel The Film (2004) $33 million.Watch it on YouTube.Hoo boy. This ad cost a lot of money. Like, over twice as much money as the next most expensive commercial. But hey, you don’t get a lavish perfume ad starring Nicole Kidman and directed by Baz Luhrmannâ€"both at the height of their fameâ€"without dropping some series dimes! $33 million worth to be exact!This three-minute ad for Chanel No. 5â€"titled The Filmâ€"doesn’t just feature the talents of Kidman and Luhrmann, it also includes costumes designed by Karl Lagerfield and production valu es that are to die for. Perfume ads generally air on the ritzier side of the ad spectrum, but this one takes the cakeâ€"and then flies in a couple extra cakes of its own just for good measure.Unlike most of the ads on this list, The Film didnt’ premiere during the Super Bowl. Instead, it debuted in movie theatres with … Bridget Jones: The Edge of Reason. Since the commercial actually has something of a plotâ€"regular-yet-super-attractive man enjoys a brief, doomed with runaway world-famous actressâ€"we’re guessing it was  like one of those shorts they play before Pixar films.The only difference, really, is that this “short” cost almost as much as the full-length film it was preceding.  To learn more about how you can build up your savings, check out these related posts and articles from OppLoans:10 Money Lessons From the Worst Contracts in NBA HistoryHorror Films Cost Very Little to Make and They Make a LOT of MoneyFrom Rags to Riches: A Financial History of the NFLMoney a t the Movies: Which Avenger Gives Marvel the Most Bang for Its Buck?Do you have a personal finance question youd like us to answer? Let us know! You can find us  on  Facebook  and  Twitter.Visit OppLoans on  YouTube  |  Facebook  |  Twitter  |  LinkedIN  |Instagram

Introduction to International Economics - Free Essay Example

Sample details Pages: 6 Words: 1667 Downloads: 2 Date added: 2017/06/26 Category Economics Essay Type Research paper Level High school Did you like this example? Introduction to International Economics a- Explain how the role of the Mercantilism practice between 1500- to the late 1700s century has influence the International Trade Theories in the 19th -21st century. In general, international trade is economic trade, such as trade in products, the movement of capital and labour and service trade, that made beyond the border. International trade theory is a brunch of economics that the study about every motive for economic activity and the effects made across the border. Don’t waste time! Our writers will create an original "Introduction to International Economics" essay for you Create order To put in concretely, international trade theory treats why trade occurs between nations, what products a nation exports and imports when they participate in trade, what profits countries that taking part in trade will gain and how the profits are distributed among nations. It is also important subject of study that what economic effect is, when a nation interrupt free trade flows directly and indirectly by trade policy. International trade theory was started with the publication of The Wealth of Nations in 1776, Adam Smith, however before then, there was some writings already about international trade and these writings was contained economic philosophy as known as mercantilism. Mercantilism was the economic theory supporting economic policies that European countries had adopted in 15th- and 18th century during the collapse of the feudal system. Mercantilist argued that restricting the import and encouraging the export in order to increase the wealth of the country. Mercantilism thought profits occur in the process of distribution, not the process of production, and that how much precious metals they have such as gold and silver being used all over the world means the wealth of the nation. But it led to depreciation of gold and silver because the amount of precious metals became excessively large. Then over the end of the 18th century and 19th century, mercantilism have been changed in the form of economic nationalism. Economic nationalism found the motive power of national economic development from within. They argued that to maintain independent status politically, economic also need to secure an independent phase. In the late 20th century, Neo-mercantilism emerged because it was difficult to predict what will happen in the future so they argued that the need to protect domestic manufacturers, economically ahead in another country and strengthen national security. b- Examine why countries engage in trade and the benefits of specialization and trade between countries. c- When you sit down for your evening meal try to estimate the number of people and transactions that are required to bring your meal to you be as lateral, imaginative and as specific as possible. Question 2 Trade structure of your chosen countries a- Analysis b- Data table Table 1 : Basic economic indicators and trade structure of Spain and Saudi Arabia in 2013/2014 Spain Saudi Arabia Land area(sq. km.) 505,600 2,149,690 GDP(current USD, millions) 1,358,263 745,273 CNI per capita(current USD) 29,940 26,260 Total Trade (X+M) (current USD, millions) 892,976 606,939 Total export(current USD, millions) 461,808 387,080 Total import(current USD, millions) 431,168 219,859 Trade to GDP ratio(%, 2011-2013) 64.2 80.7 Share of exports (%) Agricultural products 16.7 1.3 Fuels and mining products 12.8 83.6 Manufactures 68.3 15.0 Share of imports (%) Agricultural products 12.3 15.1 Fuels and mining products 26.2 5.4 Manufactures 61.0 76.5 Source : eurostat 2013 (https://appsso.eurostat.ec.europa.eu/nui/show.do?dataset=nama_exi_clang=en) worldbank 2013 (https://databank.worldbank.org/data/views/reports/tableview.aspx) WTO 2014 (https://stat.wto.org/CountryProfile/WSDBCountryPFView.aspx?Country=ESLanguage=F) Question 3 Absolute advantage Explain the theory When an economic entity produces a good or service at a lower cost compared to other economic entities, the economic entity is said to have an absolute advantage. For example, suppose Australia produces 100 cars per year, while New Zealand produces 50 cars per year. Australia has an absolute advantage because it produces more cars(the output) in the same amount of time(the input) as New Zealand. Adam Smith redefined the concept of the national wealth unlike mercantilists and in accordance with the absolute advantage, he argued international division of labour and free trade. He thought the national wealth should be evaluated by amount of good and service which people of the nation can consume, not by amount of precious metals a nation has. Adam Smith also argued that if the two countries in a free trade, it is possible to maximize the output of the world by specialization completely product that each country produced more efficiently than the other country. Ultimately Adam Smith viewed a free trade by absolute advantage as a win-win game, and argued that the more countries participate in trade, the more the people of the two countries can consume. Analysis of absolute advantage of Spain and Saudi Arabia Data table Table 2 : Production four selected agricultural products of Spain and Saudi Arabia in 2011/2014 Spain(2011/2014) Saudi Arabia Product Total production (thousands of tonnes) Yield (kg/hectare) Total production (tonne) Yield (kg/hectare) Apricots 86.9 21,318 ha Berries 262.9 1,782 ha Pulses 825.8 378,909 ha Figs 29.1 21,402 ha Source : Spain : total production 2011 Instituto Nacional de EstadÃÆ'Â ­stica (https://www.ine.es/jaxi/tabla.do?path=/t01/a091/a1998/l1/file=a70001.pxtype=pcaxisL=1) / Yield 2014 Encuesta Sobre Superficies Y Rendimientos De Cultivos 2014 (https://www.magrama.gob.es/es/estadistica/temas/estadisticas-agrarias/00ESPAÃÆ'‘A_tcm7-352546.pdf) Question 4 Comparative advantage Explain the theory According to Adam Smiths the theory of absolute advantage, the trade does not occur if a nation has an absolute advantage in all of productions. Nonetheless, the classical economist David Ricardo explained by his theory of comparative advantage that trade can be happened even if a nation has an absolute advantage in all of commodities. In 1817, while Ricardo explained the law of comparative advantage in Principles of Political Economy and taxation, Ricardo argued that though a nation has an absolute disadvantage in the production of two products, if it will be trade, all countries can get benefits according to comparative advantage. That is to say that even though a country has an absolute advantage in the production of both commodities, the product production that has relatively large absolute advantage makes specialize and the other country has an absolute disadvantage in the production of both commodities, the product production that has relatively low absolute disadvantage m akes specialize so then mutual benefit is possible by exchanging their comparative advantage products through free trade between two countries. Application and Analysis of comparative advantage of Spain and Saudi Arabia Data table Table 3 : Producer price : four selected products of Spain and Saudi Arabia in 2012 Spain Saudi Arabia Product Producer price (USD / tonne) Apricots 920.1 Berries 6,891 Pulses 5,701.4 Figs 1,733.2 Source : Food and Agriculture Organization of the United Nations 2012 (https://faostat.fao.org/site/703/DesktopDefault.aspx?PageID=703#ancor) Question 5 Factor endowment, trade and income distribution (a) Heckscher-Ohlin (H-O) model Explain the theory The Heckscher-Ohlin (H-O) model is the theory that explaining trade pattern and Bertil Ohlin argued and Eli Heckscher develpoed this model. It says a country export that is easy to produce and abundant goods, and import that is not. It also elucidated an effect of trade on the price of factors of production. The Heckscher-Ohlin (H-O) model explained the reason of comparative advantage at factor endowment and the relative price of factor tends to equalize. In other words it argued there are difference in factors of production and factor endowment, each production has different factor intensity between trade partners therefore trade occurs because of difference of comparative cost. Application and Analysis of H-O model for Spain and Saudi Arabia Data table Table 4 : Factor endowment and pattern of trade of Spain and Saudi Arabia in 2012/2014 Factors Spain Saudi Arabia Agricultural Land (sq. km) 269,600.00 1,733,900.00 Agricultural Land (% of land area) 54.05 80.66 Labour (millions) 22.93 11.22 Capital (USD) -15,141,667,020.048 164,763,650,842.157 Four major exported products Cars (8.8%) Crude Petroleum (76%) Refined Petroleum (6.3%) Refined Petroleum (5.7%) Packaged Medicaments (3.7%) Ethylene Polymers (3.7%) Vehicle Parts (3.5%) Acyclic Alcohols (2.9%) Four major imported products Crude Petroleum (13%) Cars (11%) Refined Petroleum (4.6%) Refined Petroleum (5.4%) Vehicle Parts (4.2%) Packaged Medicaments (2.3%) Petroleum Gas (4.0%) Barley (1.8%) Source: Encuesta Sobre Superficies Y Rendimientos De Cultivos (https://www.magrama.gob.es/es/estadistica/temas/estadisticas-agrarias/Regadios2014_tcm7-359782.pdf) Central Intelligence Agency The World Factbook 2014 (https://www.cia.gov/library/publications/resources/the-world-factbook/fields/2095.html#sa) Observatory of economic complexity 2014 (https://atlas.media.mit.edu/en/profile/country/esp/, https://atlas.media.mit.edu/en/profile/country/sau/) (b) Stolper-Samuelson (S-S) model Explain the theory Wolfgang Stolper and Paul Samuelson determined that an exogenous increase in the relative price of a good leads to an increase in the real and relative return to the factor used more intensively in that good and a decrease in the real and relative return to the other factor. (PanagariyaArvind, 2009) Application and Analysis of S-S model for Spain and Saudi Arabia Question 6 Context of new trade theories (a) Economies of scale Explain the theory Application and Analysis of economics of scale for Spain and Saudi Arabia Data table Table 5 : domestic consumption and export : four selected agricultural products of Spain and Saudi Arabia in 2014 Spain Saudi Arabia Product Domestic consumption (Thousands of tons) Exports (ton) Domestic consumption (ton) Exports (ton) Apricots 44,665.15 Berries Pulses 112,891.43 Figs Source : Presentation of the 2013 Food Consumption Data ( December 2013, https://www.magrama.gob.es/es/alimentacion/temas/consumo-y-comercializacion-y-distribucion-alimentaria/Informe_MES_A_MES_Diciembre__2013_tcm7-321940.pdf) (b) Imperfect competition and market power Explain the theory Application and Analysis of economics of scale for Spain and Saudi Arabia Data table Table 6 : One selected agricultural product in 2011 Agricultural product name : Apricots Top 4 exporting countries Volume of production (tons) Share of world production (%) France 48,606 Spain 31,655 Turkey 28,489 Uzbekistan 26,629 Source : Food and Agriculture Organization of the United Nations 2011 (https://faostat.fao.org/site/342/default.aspx) Question 7 Conclusion Question 8 References References Bowles, P. (2009). Mercantilism. Princeton: Princeton University Press. Falkner, R. (2011). International political economy. Retrieved 4 24, 2015, from londoninternational: https://www.londoninternational.ac.uk/sites/default/files/programme_resources/lse/lse_pdf/subject_guides/ir3026_ch1-3.pdf Kim, C. (2011). Mercantilism. Retrieved 4 23, 2015, from Naver: https://navercast.naver.com/contents.nhn?rid=104contents_id=5110 Maneschi, A. (2009). Comparative advantage. Princeton: Princeton University Press. Panagariya, A. (2009). Heckscher-Ohlin model. Princeton: Princeton University Press. Van Marrewijk, C. (2009). Absolute advantage. Princeton: Princeton University Press. Lecturer : Dr. Jacob KettoolaPage 1 of 10

Graduation Speech School Mascot - 930 Words

Last Words Nobody could have been more elated. Nobody could have been more hyper. Not one soul. It was the day that every growing, aspiring 6th Grader had waited for. That day was Promotion Day. The morning started off with an arduously long ceremony, filled with farewell speeches, awards, and of course, parent photo addicts. After sitting on a blue, plastic bench for what seemed like countless hours, I finally danced towards my homeroom with my crisp, new, elaborately decorated promotion certificate. I took a long, good look at it. The borders were intricately painted with gold paint, and the large glittering words, saying Certificate of Promotion gleamed under the sun. An aureate sticker with the school mascot was placed on the bottom†¦show more content†¦The board looked pretty similar to those puzzling paintings made by abstract expressionists. When I was munching on a slice of hot, oily pizza, I heard a conversation that I could tell was between Vanessa and someone else. â€Å"Wait, you aren’t going to Horner next year?†, someone asked. â€Å"No, I won’t be at Horner next year. I’m not too sure why.† Vanessa replied. â€Å"Wait, so we won’t see you as much anymore?† â€Å"No. I know it really, sucks but, that’s kind of what happens.† I stopped eating and put down my half-eaten slice of pie. Wait, I have not told her that I kind of liked her yet, I think. But then, it really isn’t much of a big deal, I don’t like her that much to be worrying about this. Think again Quinn, this was probably the last time I would see her, at least for a long while. Just as I was pondering, Will came back with another slice of pizza. This gave me something else to think about rather than making such a personal decision. I decided to let the time pass as I sat with the rest my friends for a farewell lunch. After the students spent their final hours masticating on pizzas, fooling around with the photobooth, and taking as many pictures as possible, my teacher called the class in for a final word. The speech was simple and as expected, You all have been one of my best classes, I will miss you all very much, have a great summer, andShow MoreRelatedThe Rights Of Native Americans2516 Words   |  11 Pageshappening, 42% of Native American women of childbearing age (15-44) were sterilized. The biggest cultural genocide that occurred was boarding schools. In the late 1800’s, â€Å"children as young as 3 were taken from their parents and transferred to schools often hundreds of miles from their house† under the Indian Boarding School Program. The slogan of the schools was â€Å"kill the Indian, save the man,† displaying their attempt to destroy native culture and ‘civilize’ them. Children were beaten if they spokeRead MoreSchool District Adminstration4672 Word s   |  19 PagesCapetown High School [pic] Taking a Bite out of Education!!! Cougar ISD Capetown High School 1979 Shoreside Drive Capetown, Texas 73911 Principal- Scott Thomison Assistant Principal- Guillermo Altamirano Academic Counselor- Travis Cole Athletic Director- Mike Nelson Health Fitness- Matt Tarbutton Counselor- Emilio Luna IT- John Kenna Mascot- Sharks School Colors- Navy Blue and White Motto- Taking a Bite out of Education! Mission Statement: To provide all learners withRead MoreSuccessful and Unsuccessful Entrepreneurs6107 Words   |  25 Pagesprocess. This leads to deeper understanding and longer retention. Moreover, research indicates that student satisfaction is greater when the classroom environment encourages student involvement. Business schools have particularly embraced experiential learning. The new American Assembly of Collegiate Schools of Business (AACSB) curriculum guidelines (1993) stress the importance of providing students with the necessary competencies or skills to be successful businesspeople. As a result, experiential or â€Å"hands-on†Read MoreShi Yuzhu5604 Words   |  23 PagesChen, who has worked alongside Shi for over 16 years. â€Æ' . Part I Venture Story Shi Yuzhu was born on September 12, 1962 in Huaiyuan, a small city in Anhui province. He lived in this small city for 18 years until he graduated from Huaiyuan High School. Shi then continued his study in Zhejiang University which is located in Hangzhou. While studying in Zhejiang University, Shi majored in Mathematics. At first, he aspired to become a mathematician, but after the first semester he noticed that his

Different Types Of Special Needs Essay - 2282 Words

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Jack Welch Essay Example For Students

Jack Welch Essay Leadership Secret 1- Harness the Power of ChangeIt is important in today’s changing economy that business leaders are not afraid to make necessary changes to succeed. When Jack Welch became CEO of General Electric in 1981, it was a lethargic business, satisfied with its output and entangled in bureaucracy. He understood the competition that overseas markets presented and the need for a new global strategic plan. He was able to envision the true potential of his resources and implemented drastic changes such as the Stretch, Work-Out, and Number One, Number Two business concepts (which will be discussed later) to achieve his goals. Leadership Secret 2- Face Reality!This is the most important rule in Jack Welch’s business strategy. Too many business leaders become comfortable with their performance and refuse to see the need for change. A business leader must understand the importance of accurately defining their company’s current position if they are planning on ma king successful changes. And once problem areas are discovered, managers must act immediately to correct them. When Welch took over at GE, he quickly addressed the common practice of sugar coating financial paperwork that only left a false since of security and insisted that every business unit in the GE empire must be the number one or number two competitor in its respective marketplaces or it would be fix, close, or sold. Leadership Secret 3- Managing Less is Managing BetterManagers need to provide the vision for their employees and instill confidence. Too many times, employees are held back by not having the power to make even the simplest of decisions without approval. Managers should empower their employees and trust that they are giving their total effort. This will give managers more time to work on plans to achieve the long-term goals of the company. Leadership Secret 4- Create a Vision, Then Get Out of the Wayâ€Å"People always overestimate how complex business is. This isn’t rocket science. We’ve chosen one of the world’s most simple professions.† In Jack Welch’s words, business is simple. A leader needs to supply his employees with the information, the resources, the vision, and the atmosphere to succeed and reward them when they do. Welch does not concern himself with the details of GE’s many business units; he only needs to make sure he has the right people in place to carry out his overall vision. Leadership Secret 5- Don’t Pursue a Central Idea; Instead Set Only a Few Clear, Central Goals as Business StrategiesThis secret reiterates Leadership secret 4. A leader needs to set up a framework for the company and not a detailed plan for every entity or situation. Business leaders should also establish a set of core values that will always remain constant with the company’s long-term goals. Leadership Secret 6- Nurture the Employees Who Share The Company’s ValuesA company’s values must remain constant. They highlight how a company treats its employees, customers, and competition. And, having employees that professionally live by these values is essential in maintaining a company’s vision. Jack Welch separates managers into three different categories: Category A managers meet their goals and share in the company values. Their future is bright in the company. Category B managers don’t always achieve good numbers but do share in the values.These managers should be encouraged to improve and should be assured security in the company. Category C managers always make the numbers but do not follow the company’s values and beliefs about business. These managers usually run a dictatorship type operation with little respect for their employees’ work and knowledge. Although, they are reaching their goals, they need to be let go before they unravel the continuity and respect that is essential for success. Part II- Igniting a Revolution: Strategies for Dealing with ChangeLeadership Secret 7- Evaluate Your Business with a Fresh Eye and Decide WhatNeeds Fixing, What Needs Nurturing, and What Needs to be Jettisoned!This secret is a prelude of how Jack Welch moved against the traditional grain of the 115 year old GE Empire and made unconventional decisions to carry the company into the 21st century. It expresses the need to have your â€Å"finger on the pulse of the environment inside and outside the company.† Don’t be bound by tradition and control. Leadership Secret 8- Be number One or Number Two and Keep Redefining Your MarketThe Number One, Number Two Concept was Jack Welch’s way of demanding the most out of his managers and businesses. His strategy was every business unit in GE either be number one or number two in their respective markets. His reasoning behind this is that the top two competitors in a market could survive a slow growth economy and that everyone else would experience compounding problems during an economic downturn. Also, the top two companies would generate enough income to advance the technology of products and the production processes, which would result in higher quality and competitive pricing. Leadership Secret 9- Downsize, Before it’s Too LateDownsizing is a nasty word in business and is usually only associated with companies in some type of economic turmoil. When Jack Welch became CEO at General Electric, profits were over one billion dollars a year and there seemed to be no apparent problems. But, he knew that some business units were not going to succeed under his Number One, Number Two strategy and not all the those employees could be reassigned. He also knew that he needed to upgrade equipment to surpass the productivity of GE’s competitors. Jack Welch stressed the need to downsize now, before it presented more complex problems in the future. He knew the move would make him quite unpopular, but today GE, through acquisitions and mergers employs far more people than it did before Jack Welch took over. Three Reasons Against Gun Control EssayLeadership Secret 20- Go Before Your Workers and Answer All their QuestionsNow, with so many people in the company asking questions and presenting problems, it was necessary that everyone received an answer. Leaving questions unanswered would only discourage employees to speak out, and good ideas would go unheard. Questions were broken down into two categories, Rattlers and Pythons. Rattlers were easy problems to solve. They could receive a yes or no answer on the spot. Pythons, on the other hand, were problems that were entangled between different business units and suppliers and required some effort to solve. Nonetheless, everyone received answers to their proposals, no matter how involved the project. Part IV- Next Generation Leadership: Initiatives for Driving- And Sustaining- Double-digit GrowthLeadership Secret 21- Stretch: Exceed Your Goals as Often as You CanThe concept of Stretch was developed to get the most out of General Electric employees. Workers were asked to establish near impossible goals and give 110% to achieve them; and, those employees that reach their goals would be nicely rewarded. But, even if they fell short, they still would exceed their normal standards. As long as managers did not reprimand employees that didn’t reach there goals, Stretch would definitely boost productivity. Leadership Secret 22- Make Quality a Top PriorityNow, that Jack Welch had set his Stretch and Work-Out concepts into motion, productivity was at an all-time high. It was now time to shift the focus of the company to quality in GE products. Only products of the highest quality would provide customer satisfaction and create customer loyalty. Welch’s quality initiative was soon followed by the implementation of the Six Sigma Quality Concept. Leadership Secret 23- Make Quality the Job of every EmployeeThe Six Sigma Quality initiative was a program used to drastically reduce the number of defects in the production process. It was pioneered by Motorola and proved to be very effective. Jack Welch hoped to implement the process in five years, half the time it took Motorola to reach its goals. He figured, with the help of Stretch and the Work-out program, his employees could take the Motorola example and run with it. Six Sigma involved using statistical information to reduce defects in the product and the production process by 10,000 times. At its implementation, GE had 35,000 defects per 1,000,000 items (3.5 sigma). The goal was to reduce that number to 3.5 defects per 1,000,000. Leadership Secret 24- Make Sure Everyone Understands How Six Sigma WorksSix Sigma has to become a way of life for a company. It involves measuring every process, analyzing each of them, and improving upon them. There are four different players in the Six Sigma process, Champions, Master Black Belts, Black Belts, and Green Belts. Champions are top management executives that present the project. There are 7 to 10 Champions in each GE business. Master Black Belts are trained to teach Black Belts the statistical formulas needed to solve a particular problem. They also act as a mentor to help guide Black Belts through projects. Black Belts are directly involved in the project and are in charge of measuring, analyzing, and improving each process. They report back to the Champions. Green Belts assists Black Belts on a part-time basis, to help them gather information and implement new processes. It is important that all employees understand the Six Sigma process, and that they are striving to help produce the highest quality product at all times. After five years of operating under the Six Sigma process, GE has saved more than $2 billion dollars. Leadership Secret 25- Make Sure the Customer Feels QualityIt is important that the customers know how they directly benefit from the Six Sigma process. Whether, it’s from a reduction in delivery time or an improved design that makes a product run faster and more efficiently, make sure the customers feel the effects or Six Sigma is not a success. Leadership Secret 26- Grow Your Service Business- It’s the Wave of the FutureAfter producing high quality products at high productivity rates, companies should direct more attention to the services side of an industry. The growth rates for product services increases more rapidly than that of product productions, so there is great incentive to direct your primary resources to provide service after the sale. Leadership Secret 27, 28, 29- Turn Your Business into an e-CompanyThe Internet is the future of business. Bring your company up-to-date and provide customers, not only with product descriptions and information, but with a way to shop, communicate and interact with your company via the web. The Internet also provides less chance for human error in the ordering process because fewer individuals have to handle information. And, most importantly, the Internet speeds up operations, whether it is use for sending information to employees or receiving custom orders from customers. Jack Welch has definitely revolutionized the business approach. He has proven, over the years, that his techniques and concepts are extremely effective and that business leaders, worldwide, should heed his advice. This book provides a small glance into the methods and methodology of, arguably, one of the greatest managers of our time!Bibliography: