To conclude with, in terms of positioning, the BD brand is perceived as offering a dynamic, unconventional, imagination supporting experience, while the P.F.Chang brand is seen as a symbol for culinary harmony, qualitative services, and concern for the client's nutrition requests or needs.
Another issue which aims to increase brand equity refers to the tools a company uses for gaining customers' loyalty. For example, BD invites clients to join Club Mongo for receiving information on promotions, news, events. As a reward, the clients will receive a gift when signing up and something special on their birthday.
A tip for higher brand equity may also refer to increasing brand awareness. At this chapter, both BD and P.F. Chang make use of the gift cards that you can buy in order to reward someone dear by offering him/her an experience in a BD or P.F. Chang restaurant.
In addition to a company's USP, a major pillar of the brand image is the organization's behavior in the community. With respect to this subject, BD's equity relies significantly on social involvement, an aspect outlined by one of the mission's statements: "operate an environment that is "Friends taking care of friends" (http://www.gomongo.com/).Acting in the spirit of the value above, Billy Down, the president of BD, opened a restaurant in the Mongolian capital of Ulaanbaatar, in order to contribute to the country's economic recovery after the fall of the communist regime, by offering jobs and donating 25,000$ per year to the Mongolian Youth Development Foundation. Moreover, the idea of acting like a good citizen may be outlined by the famous "Guest Grillers," a concept through which BD allows different organizations to raise funds. Such was the case of the Royal Oak Children's Choir who managed to raise 2000$ in three hours thanks to the participation of the city's current mayor and four previous mayors who accepted cooking together with the BD personnel. Another social project is Team Mongo, a team of marathon runners and triathletes, sponsored by BD.
Although less prominent than in BD's case, the concept of social involvement is also found in the P.F. Chang's brand image as a result of both the donations made to the Leukemia & Lymphoma Society and the foundation…… [Read More]
Strategic Brand Management
Event Management Company
Building a brand is an extensive task that requires multiple important elements to be successful. It does not only involve branding the product/service a company provides, but also focuses on enhancing the image of the brand, developing brand by adding value to it and by improving it according to the dynamics of the markets. Brand development has been made crucial for the companies to flourish in the dynamic markets that exist today, considering the effects of globalization on the world market. With continuous advancements in the business industry, companies, in order to survive or thrive have to develop their brands to differentiate their products from others. This vital importance of developing brands gave birth to Brand management. Brand management is the application of marketing techniques on a product, a range of products or a brand (Shivanand and Hungund 2012). The major purpose of brand management is developing or improving the brand's perceived value in the minds of consumers and thus build its brand equity.
Brand is, as many marketers call it, "a distinct name," "a title," "a sign or symbol" or "a color combination" that distinguishes a product in various ways from other similar products satisfying similar needs of customers (Shivanand and Hungund 2012). It is a promise/pact to customers that they will be provided with the same high quality product for their entire lifetime. It symbolizes quality product or service provision to customers and serves as an identity to the product/service being provided to the customers. From the manufacturer's perspective, brand name helps the producer protect/patent their product's unique features with a unique name (Keller, Parameswaran and Jacob 2011, p.g 7).
Our focus of the paper is on the brand which provides an event management service in Hong Kong and is a new entrant in the market. As the company is new, it preferred to build the company's name as the brand name, distinguishing its unique services that it provides as an event management company among the pool of companies providing the same service. The name of the brand/company is PURPLE and the slogan and logo that goes with it is the following:
"FEEDING COLORS TO LIFE DIFFERENTLY"
The organization's logo and name is PURPLE as it simply exemplifies or compliments the slogan FEEDING COLORS TO LIFE DIFFERENTLY. The slogan represents…… [Read More]
Product and Brand Management at Starbucks
Product and Brand Management -- Analysis of Starbucks
Starbucks (NASDAQ: SBUX) has one of the most recognized and perennially most popular bands recognized today. It also has one of the most loyal customer bases of any quick service restaurant (QSR) with the average visit per months of the most loyal customer segments averaging 16 or more (Starbucks Investor Relations, 2013). During a recent visit to a Starbucks near campus, customers in the store were trying coffee samples produced using the new Verismo System. This is a Kuerig-like device that can produce a single serving of many different types of beverages, from cappuccinos and espressos to regular coffee. The intent of this analysis is to evaluate how Starbucks is successfully using its branding strategies to move beyond serving beverages and food to selling accessories and coffee makers.
Starbucks Branding Analysis
The Verismo System was initially seen as a novelty by customers in the store, and is more discussed its advantages of providing superior coffee and hot beverages at home, there was greater recognition of its value. The customers evaluating the system were clearly very Starbucks-loyal customers as they were all holding their own mugs they had brought to the store for their daily coffee. What resonated the most with the customers was the immediacy of having a Starbucks-like coffee experience in their home, complete with the unique coffee blends they preferred. A core component of the Starbucks brand is the experience it provides customers (Nolan, 2007). Clearly Starbucks is aligning their branding strategy for accessories and new devices including the Verismo System with the experiential aspects of their branding strategy. The features of the system include a packet-loading lid that enables just a single cup of coffee to be produced in minutes using the unique high temperature brewing system. It's called a system as it has many different attachments and items that can be used for creating unique, one-of-a-kind drinks. Starbucks is attempting…… [Read More]
Branding in the global marketplace
"Brands should be viewed as markers in a global system of symbolic differences" (Cayla, 2008, p. 106). Julien Cayla and Eric. J. Arnould assert in their Abstract that scholars in the field of international marketing need to "revise some key premises and foundations" and think more along the lines of the being "culturally relative" and "contextually sensitive" when approaching global branding (Cayla, et al., 2008, p. 86). The Nike and Coca-Cola logos are "brand symbols that trigger myriad responses," Cayla explains, and when it comes to protests against globalization demonstrators use the Nike logo, the McDonald's logo (and Coca-Cola too) as "symbols of corporate excess" (p. 86). Obviously, to a demonstrator from Asia, the Nike logo brings to mind America, the culture of the West, and if that demonstrator has built up a hate for the U.S. interference in Iraq, for instance, any culturally identifiable brand logo is a perfect target for his hate and rage.
The point of opening with this thought is that Cayla suggests the approach of global branding should take into account "the consumer culture theory" (p. 86). Brands all over the world are not evolving in the same way and are not becoming "more like Western brands" but rather they are emerging as culturally identifiable brands (p. 87). The article urges international marketing scholars to "go beyond a purely managerial perspective on international branding issues" and start thinking about global branding as a process of taking into account "sociocultural entities" -- in other words, embracing the cultural dimension of branding. The principals of building a strong grand are not the same across cultures, Cayla asserts. A cultural approach to branding involves recognizing that global branding embraces a "constellation of understandings" such as the relationship between individuals and the society they thrive in.
Marketing scholars have not studied branding thoroughly in a global cultural context, Cayla goes on; scholars have tended to zero in on "managerial…… [Read More]
Brand Communication Management on Organic Products
In the class text in Chapter 11 entitled "Designing and Implementing Branding Strategies" that the brand-product matrix and the brand hierarchy help a company to characterize and formulate branding strategies. This is done by defining various relationships that consumers have among brands and products. In the matrix, brand-product relationships are graphically represented to set up a brand-product portfolio. From this portfolio, the elements in the breadth of the product mix and the depth of the product mix can be determined. In this way we can implement the proper brand architecture guidelines (Keller 1997, 503-518).
This is really a "back to the basics" reminder of why a brand was born in the first place. Traditionally, brand positioning can also be defined as how customers perceive a brand or product in relation to similar products offered by your competitors in your market. Marketers usually try to create brand position through advertising and promotions in an attempt to influence customers' perceptions of their brands. However, in today's world of busy schedules and nonstop messages, companies need to find different ways to position their brand. By listening to your customers and making changes internally, you can build your brand position organically (ibid).
Customer perception can make or break a product. For example. If your customers perceive a brand as representing poor customer service or quality, a company must make the necessary internal changes to ensure that the customers get the best-in-class customer service. The customers then need to hear about this service. In other words, it is necessary to make the internal changes to meet customers' needs. This will in turn lead to the brand experience and perception that a company wants to convey (Nirmalya and Steenkamp 2007, 237).
Organic products are different than many in the branding strategy that needs to be pursued in marketing them. Many issues with such products are unique due to small and specialized markets. Research results have suggested that such niche marketing is a highly…… [Read More]
Brand Communication Management on Organic Products
Organic products are a relatively new presence within the market. They strive to serve the need of a healthier life style with benefits for both the population as well as the environment. A major component in the success of the organic products is represented by the strength of the brands.
Brands generate customer trust, demand for the products and ultimately support the company in attaining its overall objectives. And brands are essential to the market triumph of any product, but even more so with organic products, due to the features of particularity revealed by these specific items.
At a more practical level, a marketing plan on the strengthening of a brand for organic products would include the following features:
Customer-based brand equity for organic products
The points of parity and the points of difference for organic products
The selection of the target market
The brand mantra for organic products
The brand elements
The marketing programs.
a) Customer-based brand equity for organic products
The brand is created and promoted in such a manner that it generates customer trust. It would not only promote the features of the organic products, but would promote the benefits they create for customers. The focus on the brand would be on the customer, to communicate them the commitment of the firm, the guarantee of quality and the value of the products and the company (Glynn, 2009).
b) The points of parity and the points of difference for organic products
The points of parity shared by the brand of organic products include the following:
Better health for the consumer
Environmental responsibility and sustainability
High levels of product functionality and quality.
The points of difference would often be difficult to create, but within the current context, they would include:
The expertise of the store staff and their assistance in helping customers choose the products which best serve their specific needs. This also includes medical assistance based on certain conditions which might be encountered by the customers.
c) The selection of the target market
The brand of organic consumers would address the market segment formed from women of ages between 25 and 40, who live in households that make above average incomes. These women -- regardless of…… [Read More]
The consolidation of the banking industry forced higher levels of trusted interbank trading and exchanges (Lin, Hu, Sung, 2005) fueled the rapid growth of multichannel banking, thin client technologies including AJAX, JAVA (J2EE) and XML, and led eventually to mobile devices including PDAs and smart phones being able to manage financial queries and transactions (Ho, Mallick, 2010). All of these technologies had taken on immediate and urgent priority by Wincor-Nixdorf's customer base as many are finding a 67% reduction in costs of service when they transition form branches to self-service machines, and nearly a 99% reduction in costs from branches to Internet banking (Ho, Mallick, 2010). In other words the Wincor-Nixdorf customer base was learning very quickly how to translate the advanced technologies mentioned into massive cost reductions very quickly as they capitalized on their customers' needs for more convenient access to the Internet. Figure 2, Index of Banking Services Costs provides a relative ranking of the costs of delivering banking services. With Branch costs being the index of 100% compared to self-service machines at a 67% reduction in costs and Internet banking at a 99% reduction in costs, it is evident that the technologies are having a significant and rapid effect on banking costs.
Figure 2: Index of Banking Services Costs, 2003-2006
Sources: (Ho, Mallick, 2010) (Lin, Hu, Sung, 2005)
This aggressive level of cost reduction occurring in the banking industry is forcing a higher level of intrabank and interbank integration than has ever been the case in the past. This is putting software and systems integration engineering at the center of customer's priorities and leading to the commoditization of hardware alone (Ho, Mallick, 2010).
Wincor-Nixdorf must transition from a hardware-centric mindset that seeks to find differentiation purely from one product generation to the next and must embrace a more solution-oriented mindset if they are going to survive these fundamental shifts in their customer base and…… [Read More]
Connecting with Core Customers
Disney is a world leader in understanding their target markets and uses advanced systems and innovative technologies to understand their consumer base on a level never before possible. Disney's overall value proposition target involves making experiences more memorable and accessible through innovative technology. Disney's primary strategic objective is to produce high-quality content through their entire product mix which includes a variety of brands that are used to target different market segments. Since Disney's product mix is so diversified and includes many different brands and operating channels, maintaining close relationship with its customers and maintain its level of quality and customer service can be difficult to manage effectively.
To illustrate the complexity in product mix, the media channels alone consist of The Walt Disney Motion Pictures Group which operates as its own brand but also has several extensions including Walt Disney Pictures and Television, Miramax Films, Pixar Animation Studios and Disneynature. The Disney-ABC Television Group operates ABC, ABC News, ABC Family, ESPN, The Disney Channel and several others. Interactive marketing is handled by Disney Interactive Media Group and includes Disney.com, ABC.com, and ESPN.com (Hitt, 2009). Maintaining effective brand images for all of these brands requires talented human resources that also believe in the brand. Employees who are in consensus with an organization's brand are more likely to act consistently in ways supporting how the organization hopes that external constituencies perceive it and its products/services (Aurand, Gorchels, & Bishop, 2005). Furthermore, employees can now connect with consumers on a more intimate level that through many channels, including social media, which is referred to as integrated marketing communications.
Maintaining the Brand Image
For a company such as Disney, maintaining their brand image and creating customer loyalty has never been more of a challenge. Today consumers can share information and reviews about products and services from virtually anywhere on…… [Read More]
What will make them want to purchase what the company is offering and tell others about the merchandise is: unique concepts. This means that the firm must be focused on new product development at all times.
1. Evaluate the appropriateness of Kapferer's Brand identity Prism and Gad's 4-D Branding model in helping organizations develop brands which communicate clear values and meaning to their target audiences. Provide a range of examples to illustrate and support your answer.
The 4D Branding Model is effective because it helps an organization to develop products and communicate how they can address their underlying needs. This is based on four different categories to include: functional, mental, social and spiritual. A good example of this can be seen with I Pod. As, this addresses the functional need through: creating a new way to listen to music. The design and the use of the product created favorable views in the minds of consumers. At which point, there were social perceptions about how it is considered to be superior to others. Once this occurs, it creates fierce amounts of loyalty among consumers, with this being a must have product. (Pride 2009, pg. 105) (Duong 2010, pg. 6)
2. Clearly established and well understood brand associations help define a brands position in the mind's eye of the consumer. Evaluate this statement with reference to examples to support your answer.
This statement is correct. Those products that have established and favorable perceptions help to determine if it is in demand. This is because consumers will perceive them as a superior in quality to other products on the market. A good example of this can be seen with the I Pod. Despite the fact that there are similar products on the market, they are seen as superior because of: how well-known and established they are. This means that they can be able to effectively market new models. At which point, consumers will want to purchase the latest version because of these factors. (Pride 2009, pg. 105)
3. Category Need, Brand Awareness, and Brand Attitude are important communication objectives, but the most important is Brand Purchase Intention; because in the end, if the consumer does not buy the product, our communication has been a waste of time and money. Critically assess the validity of this statement, using a wide range of current examples to support your answer.
This statement is valid,…… [Read More]
This level of the maturity model is a transitory one and is focused more on either small, incremental gains from the first level, which is Reacting. In the Reacting layer of this proposed Branding Maturity Model, the majority of brand departments have a decidedly "every department for itself" approach to process maturity and have information flow that is purely dependent on personal productivity applications only. That is to say specifically that at this low level of performance in the model, branding departments focuses first on tactical wins at the expense of global victories. This mindset in turn creates an isolated approach to branding throughout entire global industries. One of the key attributes of this level of the Branding Maturity Model is the neglecting of the many user-generated from of content including blogs, Wikis and other forms of interactive customer feedback. The short-sighted nature of being a company in the Reacting layer of this model forces branding teams more into firefighting and letting the bloggers who complain the loudest direct their firms with the greatest impact. The focus on results then is in minimizing pain and public embarrassment vs. creating lasting value through the pursuit of being a trusted advisor, defining products as value- and solution sets, and proving the value of branding through ROI work and extensive use of analytics.
In summary, the three critical success factors of becoming a trusted advisor, focusing on value-based differentiation and less on features and functions, and the strong trend towards the quantification of branding's value to organizations including its ROI signal a shift in the priorities of many SMEs in their approach to globally communicating their position and value. Underscoring all this in the research is the acceptance that blogs, Wikis, and user-generated content is here to stay and is aiding in the globalization of branding activities by enterprises. Finally, the correlation of a company's ability to attain trusted advisor status with its customers and retain that status through continual reinforcing has an effect on long-term profitability and sales. This last point is the subject of future research and shows the extent of contribution branding…… [Read More]
The disadvantages of employing brand extension strategy
This work compeers and contrasts the merits and demerits of implementing brand extension a s a growth strategy by various firms. This is done by means of practical examples. In the end of the debate, the paper indicates why it is better to adopt the extension strategy as opposed to shunning it due to its numerous demerits. A discussion of the key points is presented and then a final conclusion to hammer out the reason for the need to implement the strategy
Brand extension, which entails the use of a given brand name which is established in a given product class in entering another product class is noted to be hugely beneficial to several organizations (Tauber,1988).Keller (2003) pointed out that the concept of brand extension is clearly defined whenever a given firm employs an established brand name in the introduction of a totally new product. This strategy is employed in order to leverage as well as increase brand equity (Pitta and Katsanis,1995). The strategy is often regarded as beneficial since it reduces the costs of introduction market research as well as advertisement while increasing the possibilities of success as a consequence of the higher rate of preference that is derived from the already existing brand equity (Chen and Liu,2004). Keller (1993) points out that all studies on the successful extension of a brand are based on the assumption that a given brand is a collection of associations. The parent association can therefore successfully influence the reactions of the consumers to the given brand extension as noted by Bhat & Reddy (2001). The antecedents of a successful brand extension are parent brand effect and parent brand. Despite all the advantages of employing brand extension as strategy, Taylor (2004) indicated that one in two brand extension initiatives often fail. Some critics denounce the concept of brand extension vigorously since they feel that it makes companies to lose focus as well as makes their customers confused. Other experts however maintain that the concept of brand extension is very…… [Read More]
Seventh Brand Attribute: The brand's managers understand what the brand means to consumers.
Again on the initial introduction of the brand, RIM did not understand that the brand was actually a compilation of many factors, with the product being just one small part of that mix. The reliance on using Blackberries for staying in touch constantly also had a very reactive tone to the messaging. While trying to show how people could be responsive they made their brand appear to be addiction to reacting instead. The re-definition of the brand with a strong focus on the personas and identities of top customers however re-cast the brand to show how they understood the most pressing needs of the highest achieving customers it has. The company further tried to communicate in their re-cast branding the value of time and initiating projects, invoking change, and making things happen over merely reacting.
Eighth Brand Attribute: The brand is given proper support, and that support is sustained over the long run.
This is an attribute that is just now becoming evident with the RIM brand, as the previous branding strategies have lacked a synchronized approach to managing all aspects of the marketing and messaging mix. The lack of support for the purely technological and reactive messaging in the first generation of RIMs' branding opened the company up for many criticisms as the brand, in its mystique of speed of response, did not capture the more critical values of work/life balance or the need for taking control of ones' time. Messaging today however is concentrating on these social values and is also supported through a series of other marketing, PR, and Web-based marketing campaigns and programs.
Ninth Brand Attribute: The company monitors sources of brand equity.
In the initial branding efforts, this attribute was terribly managed as the brand became quickly associated with workaholics that could not stop typing even in the middle of their daughters' recitals (Columbus 2005). The lack of control over ones' life but the high importance of the Blackberry as a status symbol of time urgency quickly wore out however, and the Blackberry's brand equity dissipated as a result. With the re-definition of branding to specifically focus on how Blackberry customers are changing their lives for the better with the…… [Read More]
Opponents to the idea that a brand can live forever point out the many popular brands that have died out in the past. True, there have been a lot of brands that have gone the way of the dinosaur. But there are also many brands that are still around, and that have endured. They are the same companies and the same brands, but in most cases they are not the same products. They have stretched their brands and extended them, and that has allowed them to remain competitive within a changing marketplace. Brand stretching and brand extension are both very significant tools for almost any company when it comes to keeping a brand not just alive but thriving (Clifton & Maughan, 2000).
Brands that are allowed to grow and change according to what customers want and need will stick around, provided the products are good quality, reasonably-priced, and well-marketed. Brands that refuse to change because 'that's how we've always done it,' will generally fade away completely. Some of them manage to hang on, but they lose a great deal of their market share to newer companies that are giving customers what they want in today's market. Then these older companies lament the fact that customers do not seem interested in them anymore and they wonder what they can do. They could have avoided all of that.
In short, it is not the brand that decides whether its life will be finite or infinite. It is the way that the brand is presented and treated by the company that has created it. A company that wants to stay on the cutting edge and continue to have high market share will adapt its brand to meet the demands of consumers. A company that is not willing to address this issue may see the brand -- and the entire company -- die out. As unfortunate as it is, this is what has happened throughout time to some good brands and good companies that as simply not around anymore.… [Read More]
The main benefits of extension using the already established successful brand of the parent are: reduced costs, the fact that it may prevent competitors from filling a niche, reduced shelf space available to competitors, and the filling of a gap in the product line that customers want to see filled. However, there are risks such as weakening the parent brand or cannibalisation of the market share of the original product. Extensions may damage consumer faith of the parent; the managerial time and budget will be split and the lack of focus could undermine the brand message; retailers have only limited space, and additional lines demand more space. Retailers may just allocate the extension some space from the brand's existing allowance, maintaining the same total allocation but now split between more products.
Brand stretching is more risky since it involves diversification into an unrelated area of business. Stretching is a leap away from the initial technology (Kapferer 1997). Firms need to be aware of previous failed attempts to try to use the reputation of an existing brand in a new market. Most companies should really avoid brand stretching. However, brand extension -- when studied carefully and done right -- are a very important way to grow a brand. They can cause brand harm if they are not addressed correctly, though, so that means that there has to be a lot of up-front research done before any company moves into extending its brand. Some extensions will work much better than others, as well, so how to extend and in what directions are vital things to know before any company decides to move forward with extending their brand.… [Read More]
brand strategy is a challenging task for many companies but it is a vital step in giving the company an identity of its own. It is this identity that is repeatedly communicated thought the business life. Developing a brand management strategy involves applying marketing techniques to a brand, or a product with the intention of giving it a unique image and to set it apart from the competitors. We will focus on the competitive analysis or model analysis that will briefly introduce our project, the competition or model, as well as describing the strengths and weaknesses of the competition or model.
The group is intending to come up with the shuttle bus service which is to serve the York collage, its student as well as staff. This shuttle bus service will transport valid students and staff from York College to predetermined stops in the area. By doing so, the shuttle service will down size on the foot traffic as well as congestion, comprised of students trying to get to where they need to go, around the campus as well as be an added benefit to those students who have to travel great distances to attend York College. This overwhelming majority of students make up a considerable portion of our target audience who we feel will reap the rewards of this service in the long run.
Our target users include but aren't limited to all students and faculty who attend evening classes at York College. An astounding percentage of students at York do not live close by and must travel immense lengths to attend or teach classes here. A large majority of these people also have outside responsibilities that prevent them from taking or instructing earlier classes. This makes travel to and from the college essential. More importantly, the area in which York College is located isn't the best when it comes to personal safety at night. Understanding the environment the business operates in is a key part of planning and allows the business to discern the threats and opportunities. (Garth, 2000)…… [Read More]
Managing Diversity and Equal Opportunity
With the turn of the 21st century, a dramatic increase is being witnessed in the international flow of labor with repercussion for domestic labor supply and management. The native, racial and emigre mixture of the employees is predominantly important for the workplace. The importance of this domestic cultural multiplicity in the labor force, highlighted by worldwide influences and necessities, has lately encouraged the researchers to focus on the companies' and managers' response to diversity, be it of any form (Watson, Spoonley, & Fitzgerald, 2009).
If the workforce of the present times is compared with the one that was found 20 years ago, it will be easy to observe that there are "more white women, people of color, disabled persons, new and recent immigrants, gays and lesbians, and intergenerational mixes (i.e., baby boomers, Generation Xers, and Generation Nexters)" (Riccucci, 2002) today. This situation has given birth to quite a number of challenges for the management at the workplace. The approach with which employers hold this opportunity of diversity is the determining factor that will unmistakably make a distinction between successful and well-organized organizations from those that are uncreative and not capable to meet the requirements and necessities of the people in the 21st century (Riccucci, 2002).
In the present day, municipal and private sector companies are on the edge for creating creative workforces that can actually represent the global population instead of symbolizing the national populace (Riccucci, 2002). This paper discusses the current status of diversity management and equal opportunities and the ways to manage a diverse workforce.
A diverse workforce can be defined as "a workforce made ... distinct by the presence of many religions, cultures or skin colours, both sexes (in non-stereotypical roles), differing sexual orientations, varying styles of behaviour, differing capabilities, and usually, unlike backgrounds" (as…… [Read More]
The History of Apple Corporation
Strategy Development and Implementation
The History of Apple Corporation
The corporation has an exciting history, as it has transformed to the biggest and most successful technology firms in the world, under the best managers of time. Both the employees of the firm, the management and the product consumers have been linked to the firm's success. The firm was started with the two Steves, who from their early lives had shown considerable interest in electronics. Steve Jobs and Steve Woznlak were former employees at Atari and HP respectively. However, in April 1976, the two conceptualized the Apple computer, which was among the first personal computers at that time. The company has focused on products that are innovative and new in the market ever since it was started. It is Job that started developed the legendary Macintosh, which is known to many as 'Mac'. There have been tremendous changes and product developments in the firm and currently the firm has products that meet the consumer demands, in terms of design and innovation (Schermerhorn, 2011).
SWOT and IE Matrices for Apple
The SWOT Matrix
When a business is undergoing transformation and development, the SWOT matrix is a powerful tool that can be used to decide on the best strategies any organization, so that the strategies focus on the advantages of the organization, which include the strengths and opportunities of the organization. The advantage the organization holds can be used to counter the external threats and overcome the weaknesses of the firm. The SWOT matrix for Apple Corporation is illustrated in figure 1.1.
The IE Matrix
This is the Internal External matrix, which is the other management tool that is used to assist in the strategizing of businesses. Typically, the IE matrix works based on the EFE and IFE matrices, which are plotted on a nine-cell template, with the EFE…… [Read More]
A cheap product will not be able to survive in this rapidly changing business environment. Organization is another extremely important aspect of the necessary managerial skills for any manager desiring guaranteed success at their individual Verizon location. Organization can be as simple as instituting training at work in a pattern that overlooks no single employee. A good manager cannot expect employees to train themselves or improve their work manners without additional help. A strong organized training program is sure to enhance even the most successful company.
A strong leadership team is another necessary important aspect for businesses engaged in the phone industry. Verizon's leadership team must be instituted and adopted without fear at the workplace, because employees who fear their supervisors simply cannot evolve into successful employees interested in the growth of the company. A strong leadership team will effectively manage the business with the overall objective of accomplishing the larger goals of the organization. Leadership is also represented by effective communication with other members of the team, the establishment of high standards, and the promotion of continuing education in the line of business. Maintaining effective control over the business is also a highly regarded area in effective management. Effective control can be exuberated in a number of ways. At Verizon, the system of annual raises or merit systems has also been eliminated, and raises are given based on performance and quality of workmanship.
The role of the four fundamentals of management in the phone and telecommunications industry is very important. Verizon, a successful competitor in this market, owes much of its economic success to its' pricing methodology, sales preservation and enhancement, and ability to compete within the unique structure of the rapidly evolving technological market. Since the market in which Verizon competes is characterized by intense competition with other phone companies offering the same and similar products and service, the ability to effectively plan plays a crucial role. At Verizon, organization is also key, because the market structure can be best described as a monopolistic market structure in which many firms produce similar goods or services but each firm…… [Read More]
He wished to build the happiest place on the planet and this message continues to be handed over to the new recruits who join the organization presently also. Disney exists to give a guarantee to the Americans that are there for real. Disneyland is not just unreal, rather it is hyper-real. As a result it is possible to express of the corporate culture of Disney as being created. ("Reading Organizations from behavior and experience to representation and experience," n. d.)
4) Explain how the four functions of management support the creation and maintenance of a healthy organizational culture
The four functions of management support the creation and maintenance of a healthy organizational culture as it leads to planning, organizing, leading and coordinating of resources and it is these 4 activities which recur across the institution and are extremely unified. Present features relating to management cover claims leading are distinct from dealing and that the characteristics of the manner in which the four functions are undertaken should transform to accommodate a new pattern in management. ("Introduction to Management," 2007)
The Walt Disney Internet Group -- WDIG that has been formed is responsible for every important function inclusive of business development, research and development, sales and marketing and operations. The company has expressed satisfaction on the building of the Disney Mobile group which is headed by George who has a very rich experience in operations along with a longstanding history relating to management at the Walt Disney as also it's 'Internet Group'. The Walt Disney Company receives operational levels of management as well as strategic forms of leadership from 'The Walt Disney Internet Group' -- WDIG. The Internet properties of Walt Disney include category leaders such as ESPN.com, Disney.com as well as ABCNEWS.com. It is through efforts as well as by means of relations with few of the largest wireless carriers of the world, WDIG tend to make the distribution of the content as well as services to the wireless users-based which falls under the Disney brand. This apart, WDIG has spearheaded the path in production of interactive content with regard to TV programming by means of its improved TV service. ("Walt Disney Internet Group Names Management for Newly formed Disney Mobile Business," 2005)
5) Recommend at least two strategies that organizational managers and leaders can use to create and maintain a healthy organizational culture.
Majority of the strategic planning…… [Read More]
Management in MNCs
Management Principles in MNCs
The reliance on management Principles in multinational corporations (MNC) is today more pervasive than ever given the rapid pace of globalization and the need to bring diverse cultures together for attaining common goals. The reliance on the six management principles of vision, people-driven values, robust communication, sense of urgency, execution and extreme customer focus all combine to create a strong platform for future growth of an MNC. Given the pace of innovation that continues to accelerate, these six management principles are essential for the effective growth of any MNC over time (Cveykus, Carter, 2006)
The intent of this analysis is to define the role of each of these six management principles in an MNC, defining which is the most critical to its success.
Assessing Management Principles in MNCs
The six management principles of vision, people, robust communication, sense of urgency, execution and extreme customer focus are the foundation of any effective MNC structure and performance. Of these, vision is critical for unifying the entire organization, across cultural boundaries, to a common and shared series of objectives and goals (Fujimoto, Hartel, 2010). The people aspect of the six management principles is what is the most difficult to manage and lead over time, as resistance to change is often the most common reason that initiatives fail. Communication across the many cultures must take into account large variations in how each region perceives information, what its core values are from a task ownership standpoint vary, and how the perception of time itself is different. All of these factors influence execution of a given series of strategies, so from the perspective of getting things done, the first five management principles are tightly integrated with each other (Underdown, 2010). Finally, all lasting success within an MNC relies on an extreme customer focus, which is the sixth management principle. All of these elements together form a system of continued improvement and alignment to customer needs while taking into account the innate constraints and limitations of any organization over time.
The Catalysts of Cultural Agility in the Six Management Principles
For any MNC to be resilient in the face of significant change globally, the vision must be a galvanizing force that transcends any cultural differences to create a unified mission…… [Read More]