Behavior Traits of Successful Businesses

Businesses are resource limited and must determine where and in what way to allocate resources to achieve business mission objectives. This translates to why it is so important for business to be creative and actively plan for innovation correctly. Innovation is a change of direction and it alters investment policy so it is essential from the onset for the business planner to be clear about the current state of product â€Å"portfolio†. The planner must recognize how to balance the current products against possible policies for future development and their likely implications in terms of cash flow, market share, return on capital employed and other key components of company objectives. A successful behavior trait taking hold for successful companies is to develop business models to assess a strategy. These models provide change models expanding on issues such as â€Å"what†, that provide a picture of the company now of analysis; and â€Å"which†, that suggest alternative action paths for the company to take. Both of these models provide information to build a more complete picture of events within the business and options for future development. Managers should make use of these models and many don†t. Those that do are more likely to be successful and have the ability to minimize risk of failure. Business managers who do are far more likely to survive. For planners and non-planners there is not a single universal technique that can be applied in all situations. Use of strategic planning models can be a very important behavior trait for successful companies. Companies that do not use strategic planning models usually don†t because the model does not offer what the customer wants. It may be inadequate because of its analysis of the relationship between company resources and markets. These result in advice about overall investment decisions rather than about the specifics of how to manage the alternatives in the market/business relationship can be shortsighted, since there are always alternatives in order to gain the maximum competitive advantage. Since change is so an important aspect of business continuity, many models don†t necessarily provide assiduous suggestions for what type of change should be considered. An example of modeling one such model in use by Boston Consulting Group (BCG) subdivides their profit centers into four main subdivisions. This breakdown does help in planning for strategic investment matters but it does not assist the planner in identifying a single product development proposal to investigate further from a number of alternatives. The matrix system comprises the following: 1) Stars, which are products generally with negative cash flow 2) Question marks, which are products with generally negative cash flows but with low relative market share in growing markets 3) Dogs, which are products unlikely to be generating substantial positive cash flows due to the fact that they are in slowly growing markets with low relative market shares 4) Cash cows, that are products that generating cash which have high relative market shares and are established in slowly growing markets. BCG model like the previous statement in the above paragraph does not define the product enough and does not create opportunities to explore alternatives in which to improve profitability or market share. The growth concept is divided into five separate levels one being dominant, strong, favorable, tenable and weak and relates this to the stages of market development. The stages are embryonic, growing, mature, and aging, which produce a series of strategic guidelines for company development. The market growth concept provides valuable guidance about broad policies, replacing the concept of market attractiveness in the GE matrix with stages of market growth. A PLC (product life cycle) are frameworks for planning. It suggests that specific changes in product policy should be followed after the initial product introduction. A major problem is that few products follow â€Å"typical† PLC curves. This implies that the organization evaluates the likely progress of each facet of the product†s performance over the ensuing time scale to identify particular areas where investment should be concentrated without a clear indication as to whether that product will follow the predicated path of the PLC. There are several other types of commonly used models and analysis (Product viability, Market newness, technology position, opportunity cost risk, and the Ansoff matrix) that can be employed each having strengths and weaknesses and should be applied to achieve a specific outcome. By carefully defining the likely market attractiveness for innovation and the resource environment for innovation, management can identify the types of innovation that are appropriate for a particular business unit. The key components of the market and resource environments are: 1. Market attractiveness is degrees of synergy, market size, barriers to diffusion, the expected product life and the stage of technological development. 2. Resource components are likely to be market position and personnel resource, which combine to yield a definition of the company core competence. By establishing a weighting scheme the analyst can create a three-by-three grid of market attractiveness versus resource environment to provide a measure of the likely ability of the organization to carry out particular types of innovation and the expected profitability of the proposed innovation policy. Personnel are the hearts of a continuing effective innovation policy. But, it is just as important that management and leaders are made aware of their unique roles and how crucial their behavior is upon the organization – ultimately the success of the company. Managers must be able to stimulate conversation and innovation. Leaders must be clear on how paradigm shifts and leadership is interwoven. Managers must be able to demonstrate paradigm pliancy if they are going to expect others to practice it. The more active managers can be in the search for new paradigms, the more likely those managers will be to have people work with them. An example made in the paradigm text indicated that the piston engine was on its way out in the 1970†³s because of the mandates on for a cleaner environment. Once the engine engineers stepped outside the old boundaries, they found that electronics could help to resolve the issue. Managers must facilitate and encourage cross talk. More and more the answer to a particular problem will lie with someone else and if you don†t apply the cross communication, that idea won†t be brought to surface effectively. It†s especially important that managers listen. Even when some ideas sound off the wall, you want people to approach with their ideas in an on-going fashion. On the other hand, the merger of these ideas though on their own may seem a bit far-fetched; when combined they offer leverage for the manager to generate great and unique solutions. In the text, Paradigm, the author Joel Arthur Barker defines a leader, as a person one will follow to place one wouldn†t go by himself or herself. To be successful in the twenty-first century means that leaders will need to be competent on managing within a paradigm and leading between paradigms. One without the other will not work. Successful leaders tend to lead to new paradigms in a variety of ways. Leaders need to be aware of the pattern of choices that occur during paradigm shifts. Typically three opportunities emerge: 1. Keep the paradigm; change your customer 2. Change your paradigm; keep your customer 3. Change your paradigm; change your customer Warren Bennis set forth a list of characteristics of leaders in the May 1990 issue of training magazine. The manager administers; the leader innovates. The manager has a short-range view; the leader has a long-range perspective. The manager asks how and when; the leader asks what and why. The manager has his eye on the bottom line; the leader has his eye on the horizon. The manager accepts the status quo; the leader challenges it. Roger Milliken, CEO of Milliken and Company, a privately held textile company in South Carolina demonstrated true leadership when he began his company drive to world-class status in the early 1980†³s Though most industry experts predicted the demise of the U.S. textile industry, Milliken continued to pursue excellence. In 1990 Roger Milliken won the noted Malcolm Baldridge Award demonstrating excellence. Employees operate at different levels, some are visionaries (don†t have people following them), some are leaders, some are managers, some are leaders and even a smaller percentage have all four roles – remarkable is a company that has an individual having all four characteristics. The most important factor in sector creating innovation is the concentration on academic and theoretical concept development, which demands a specific organizational framework. They contrast with the rapid developmental demands of performance extension, technological reorganization and process innovations and with the need for close contact with the market required by other types of innovation. Therefore, three broad types of organizational patterns can be described as appropriate for components of the innovation matrix and it can be described as follows: 1. Common room – appropriate for the development of sector creating innovations 2. Rugby scrum – approaches are best for the management of performance extension, technological reorganization and process innovations and those innovations that require a close and continuing contact with the marketplace for effective control 3. Coffee shop – reformation, service, branding, design and packaging are most suited in this sector Once a company has formulated an innovation policy it must evaluate whether to acquire the expertise from outside the organization (acquisition), to borrow it (licensing), to develop it with a partner with some specific expertise in this area (joint venture), or to concentrate on developing the knowledge internally. By studying how knowledge has been acquired and the problems associated with each route, it is then possible to come to some general conclusions about the best overall method for developing competitive advantage in the 1990†³s and beyond.

Homework Case Study Example | Topics and Well Written Essays - 750 words

Homework - Case Study Example Determination of the cause of an incident is informed by classification of that incident accordingly. Incident reaction – An actual incident is respondent to, and it is this response(s) that is associated with incident reaction. Once an actual incident has been identified, all the activities directed to that incident constitute a response that is hereby referred to as the reaction. Incident recovery – Recovery is realized after all responsive activities have been executed. It is after containing the incident and successfully regaining systems control that the recovery step begins. This step entails assessing the extent of realized damage, restoring any needed data and/ or services in that line, frequent system examination and monitoring, and getting all stakeholders back in track within the organization. Strategies for containment vary from one organization to another, with the commonly used being disconnection of communication sources, application of filtering rules, and incident monitoring (Socha 203). External attacks are contained through disconnecting communication sources that have been impacted. Doing so safeguards the organization against external networks. Rules used for filtering purposes basically restrain network access based on their respective types. Finally, the incident can be monitored as a specific course of action is being undertaken. These strategies are tailored towards ensuring that the incident is stopped, and that systems control is successfully recovered. The document highlights the process of contingency planning and all the activities involved in ensuring that the panning process is a success. The various types of plans associated with contingency planning for IT systems are presented and their functionality described. It is noted that the planning process is significantly different from the actual plan development. The varying processes and activities that uniquely define the two

The Formation of a Valid Business Contract Essay - 6

The Formation of a Valid Business Contract - Essay Example The essential element of the contract is an offer. It is an important ingredient because it defines the relationship and key issues in the contract. In order for the offer to stand as a legal entity, communication is a vital factor. The parties must communicate and accept the offer in the best terms available. Effective communication is essential in order to facilitate the receiving party with knowledge of whether to agree or reject the offer (Stevens 2004). In the case a person signs a contract without reading the terms of the contract, he is liable to the effects of miscommunication. A valid offer must be supported by certainty and validity on precise terms. The terms are considered definite in a situation where a reasonable person understands the terms. The clarity of the terms is reviewed basing the review on four pillars which are parties to the contract, duration of time for performance, value and subject matter/scope of services (Stevens 2004). A contract is considered enforceable when if the parties to the contract engage in an exchange of valuable price. Consideration is a consideration when there is mutuality. That is to mean that the parties to the contract must have valuable prices in exchange. The price is not only restricted to money but any other valuable consideration (Stevens 2004). There are many types of contracts, and all the types have an impact on the parties. There are those contracts that create an impact on the basis of creation. For example, express contracts. Words spoken or written make the contract. Another example is implied contracts where the contract is dependent on the conduct of a person or rather the circumstances under a particular case (Stevens 2004).  

Canterbury Television ( CTV ) building in Christchurch Assignment

Canterbury Television ( CTV ) building in Christchurch - Assignment Example However, none of these earthquakes has caused havoc and loss of lives as did the earthquake of 6.3 on Richer that hit Christchurch on 22 February 2011. This aftershock reportedly claimed 184 lives in the city. However, CTV building was the most affected, something that raised many questions from structural engineers and the public at large. This is because CTV was the only building that collapsed from the earthquake, claiming 115 lives of the 184 people who perished in the entire Christchurch. The collapse of the building has been blamed on human error associated with poor design and construction. Several key-role players and stakeholders have been associated with the incident and its consequences, which this paper seeks to examine. In addition, the paper will analyze the management and organizational factors that might have been associated with the incident. Table of Contents Table of Contents 3 Introduction 4 The key role-players 4 The key stakeholders 7 Management and organization al factors associated with the incident 9 Conclusion 10 Recommendations 10 References 10 Introduction New Zealand is one of the European countries that are very prone to earthquakes. Seismologist attributes this to its proximity to seismic zone. Associated Press (2012) reveals that very powerful earthquakes have hit the country several times in the recent past. ... This is because CTV was the only building that collapsed from the earthquake, claiming 115 lives of the 184 people who perished in the entire Christchurch, according to Associated Press (2012). The commission formed to investigate the matter found out that the building might have collapsed due to poor design and construction. The commission also identified several key role-players and stakeholders that this paper seeks to examine. In addition, the paper will provide an analysis and evaluation of the key management and organizational factors linked to the incident, prior, during, and after the incident. The key role-players Canterbury Earthquake Recovery Authority (2012) report claimed that showed that the CTV building incident on 22 February 2011 was extraordinary. This is after findings showed that the building collapsed from the earthquake due to human error. As earlier stated, an earthquake of magnitude 6.3 hit Christchurch on this fateful day killing 184 people most of whom peris hed from the collapsed CTV building, where 115 people reportedly perished. According to the royal commission report, CTV building collapsed due to poor design and construction. As a result, David Harding, the architect who designed the building becomes the first key-role player to blame for the collapse. Write and Greenhill (2012) reveals that the building did not meet the 1986 building standards when it was constructed. The investigation revealed several structural weaknesses in the design that caused the building to collapse upon being subjected to tension. Vervaeck and Daniell (2012) noted that the CTV building had poorly designed joints between beams and columns. This made the

Profit Implications of Malware Annotated Bibliography

Profit Implications of Malware - Annotated Bibliography Example A computer worm refers to a self-replicating computer program. It relies on computer network to send copies of itself to other computers on the network in an automatic manner. Worms are known to exploit a zero-day vulnerability that allows them to execute their copies within the same network (Effects of Malware Infections: Avoid the Dangers of Malware Programs ). There are several types of worms these are: The internet Relay Chat worms that exploit the Internet Relay Chat (IRS) unlike the Instant messenger worm that exploit the IM channel. The web or internet worm spreads via user access to a web page, file transfer protocol or by use of other internet sources. We also have the file-sharing (Peer-to-peer) worm that copies itself into a shared folder, it then use its peer-to-peer mechanism to make its existence known with the hope that a user will download it. As for the flash form these refers to the theoretical worms that spread within seconds upon activation to all vulnerable hosts on the internet. A Trojan horse is a non-self-replicating type of malware that tends to perform normal beneficial functions for the user though it facilitates unauthorized access to the user’s computer system. Recently Trojan horse is released as payloads by computer worms that give the attackers full control of the victims’ personal computer (Effects of Malware Infections: Avoid the Dangers of Malware Programs ). There are several factors that make Trojans dangerous, first of all Trojans are not visible in the traditional process viewer. including windows and task managers, this coupled with the fact that most virus and Trojan scanners find it difficult detecting the Trojan code. Also the Trojan code is very difficult to unload hence making it hard cleaning it. The most common type of Trojan is the proxy Trojan that once it attacks the victims computer it turns it into a proxy server (Zombie) which then operates on behalf of the remote attacker. This makes it even more difficult traci ng the attack to the attacker as the trail often leads to the victim in most cases. A rootkit is a software system that is composed of several of one or more computer programs that are designed to hide the fact that a computer system has been compromised. Usually an attacker

Paper narrative Essay Example | Topics and Well Written Essays - 250 words

Paper narrative - Essay Example Removal of $10000 from regular salaries would transfer the lost value to training of stuff however a progressive strategy should be developed to implement this reduction. Training is also an incentive therefore justifiable to remove $5000 from incentive expense and direct to training. Under category employee benefits line item for compensating unemployed is not beneficial to the court removing $10000 reduces that expense. Removing $5000 from group insurance to raise unfunded training is also beneficial. Regrettably under the contemporary economic slump as well as high travel and tuition expenses it is not beneficial for the court for the employees to get out-of- state training. Coupled on the accumulative caseloads and workloads makes it even more demanding. Considering on job training is the best alternative such online courses (Financial administration, 2009). Minimizing cost is the major concept used in my proposed budgetary cuts. Line items that are related to employees are high ranking on priority proposed list for cuts. The cuts are applicable since employees are at the center of the mandated training. A system where the same employees fund the training is a viable approach (Financial administration,

Animal Farm Essay Example for Free

Animal Farm Essay The novel Animal Farm was cleverly written by George Orwell to make fun of the Russian government. Orwell made all of the events in the book relate to an event during the Russian revolution. The rebellion in George Orwell’s Animal Farm represents the Russian revolution during the reign of Joseph Stalin. This novel is an allegory that can be taken as a children’s book or a book with a serious political opinion. George Orwell was born in India in 1903 to the name Eric Arthur Blair. He was a very opinionated man who despised political lying. Orwell strongly believed in a form of government called socialism. He moved to England an attended Eton college. Shortly after, he moved back to India and joined the Indian Imperial Police for five years. After doing a variety of jobs around France he started to write articles until beginning to write his books. In the sources I used the definition of the Russian Revolution is â€Å"Russian Revolution, violent upheaval in Russia in 1917 that overthrew the czars government.† In the novel the rebellion of the animals was a violent upheaval on Manor Farm that overthrew Mr. Jones. Orwell’s point in writing this novel was to show the stupidity and flaws of the Russian government and the stupidity of the events that took place in the time period of the rise of communism. The main events that happen in the novel go word for word to what major events took place during Porter 2 the rise of Joseph Stalin. In the Russian Revolution Joseph Stalin took the words of the beloved Karl Marks and used them to gain power for his own doing. The same thing happened in Animal Farm when Napoleon used the words of Old Major to start his own Revolution. George Orwell’s Animal Farm is a story about rebellion. The farm animals rebel against Mr. Jones, the farm owner, because of neglect. When the animals chase out Mr. and Mrs. Jones, the animals immediately rejoice. The pigs gain control of the farm. They soon forget the real meaning of â€Å"Animalism† and the other animals cannot tell the difference between the humans and the pigs. Orwell’s Animal Farm parallels the characters, events, and socialism of the Russian Revolution. The characters in Animal Farm favor the main personalities of the Russian Revolution. Mr. Jones is a reflection of Czar Nicholas II, who lost control of his reign by rapid industrialization. The rebellion in the novel mirrors the R ussian revolution. The windmill is a symbol for Stalins Five-Year plan. Just a windmill was promised to make the animals life easier. The Five-Year Plan was supposed to improve Soviet industry to the point that the people’s life would be made easier. Stalin also thought that the Five Year Plan would increase production and allow the soviets to shorten the workweek. And just like the windmill, and Stalins plan was an utter failure. After the destruction of the Windmill, the Animals decided to build another one. Just like how Stalin kept churning out new Five-year Plans. Always promising that each new plan would solve all of Russias problems. The same as Porter 3  when Napoleon kept on making up plans that would benefit him in the long run. It all started when the hens refused to give their eggs up to the pigs. Napoleon then decided to starve them until they change their minds. Several of the hen’s die, and the rest simply give up. Soon after, Napoleon calls a general meeting. The dogs drag out several pigs. The pigs confess that they were working with Snowball and Mr. Frederick, and a moment later the dogs tear their throats out. After that, the same thing happens with the surviving hens from the rebellion. At the end, there is a pile of corpses by Napoleons feet. What we have here is a nightmare that mirrors to the Great Purge. The Great Purge took place between 1936 and 1938. Working to eliminate every last trace of the people Stalin had executed or sent to Gulag labor camps. Many of those who died, died because they claimed association with Leon Trotsky. Estimates of how many died in the purges ranges from about 500,000 up to 2 million. Stalin and Napoleon were evil men. Orwell was a very clever man. He had a lot of ideas on how government should be run. He also was a very talented writer. Using those skills he crafted the novel our class read Animal Farm. This novel could be read at an elementary level or at a high school level with a huge political perspective. Orwell cleverly used the story of animals taking over a farm to make fun of the communist government. In doing so he included the events as told in my past paragraphs. The Russian Revolution, Stalin’s Five-Year Plan, and The Great Purge. All events secretly mentioned in the form of a children’s fable. Orwell was truly a clever man.