Financial markets free essay sample

For what reason are budgetary markets critical to the soundness of the economy? A monetary market is where individuals and association can exchange money related protections and items at costs as indicated by the flexibly and request. Case of protections are stocks and bonds, and items incorporate properties or significant resources. A market holds intrigued purchasers and dealers, including family units, firms, and government organizations, in one spot. Money related markets helps the raising of capital, the exchange of hazard, assurance of cost, worldwide exchanges with combination of budgetary markets, the exchange of liquidity, and for global exchange purposes. One of the significant impetus for the quickened advancement of an economy is the presence of a powerful money related market. A budgetary market helps the economy in the accompanying way. Right off the bat, preparation of reserve funds of people in general. Assets acquired from the savers, for example, family people, business firms, open and government is utilized for speculation to get benefit that encourages produces to the monetary development. We will compose a custom article test on Money related markets or then again any comparable point explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page Next is for national development. A money related market added to a countries development by guaranteeing stream of surplus assets to shortage units. Stream of assets for gainful purposed is additionally made conceivable. Thirdly is for business enterprise development. this is on the grounds that budgetary market add to the improvement of the enterprising division by making accessible the essential money related assets. Fourth is liquidity. Budgetary markets are significant on the grounds that they permit financial development by offering liquidity, and this liquidity permits markets to get greater in light of the fact that it permits request to be communicated smoothly and without a huge capital increase.

Amnesty International free essay sample

Absolution International is a worldwide development of in excess of 3 million supporters, individuals and activists in more than 150 nations. They work with and for one another to protect human rights. They accept that human rights manhandles anyplace are the worry of individuals all over the place. Amnesty’s individuals are the foundation of these endeavors. They take up human rights issues through letter-composing, on the web and disconnected crusading, shows, vigils and direct campaigning of those with force and influence.UNITED AGAINST INJUSTICE Together we battle to: * shield opportunity of articulation * ensure women’s rights * cancel capital punishment * request equity for wrongdoings against mankind * request corporate responsibility where organizations have mishandled people’s right INDEPENDENT AND DEMOCRATIC Amnesty International is: * free of any legislature, political belief system, monetary intrigue or religion * monetarily self-governing, and are supported for the most part by enrollment and open gifts history Ignition for a development: 8 May 1961, Amnesty International started with one man’s shock and his fearlessness to take care of business. We will compose a custom exposition test on Pardon International or on the other hand any comparable subject explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page In the wake of learning of two Portuguese understudies detained for raising a toast to opportunity, British legal counselor Peter Benenson distributed an article, â€Å"The Forgotten Prisoners† in the Observer newspaper. That article propelled the â€Å"Appeal for Amnesty 1961†, an overall battle that incited an astounding reaction. Reproduced in papers over the world, his source of inspiration reverberated with the qualities and yearnings of individuals all over.

Crocs Company Essay

I have picked crocs organization to make the report that required in my first appraisal. I pick this organization since I am intrigued to make investigation about this organization. As I would see it this organization is one of a kind. In view of (Wikipedia crocs), Crocs, Inc. is a shoe maker established by 3 companions †Scott Seamans, Lyndon â€Å"Duke† Hanson, and George Boedecker, Jr. They deliver and convey a froth stop up configuration obtained from a Quebec organization called Foam Creations. The shoe had initially been created as a spa shoe. The primary model created by Crocs â€Å"The Beach† was revealed in 2002 at the Ft. Lauderdale Boat Show in Florida, and sold out the 200 sets delivered around then. After an extraordinary achievement selling the 200 sets of Crocs â€Å"the Beach† spa shoe, George understand the potential and attempt to go past the 200 sets. Each pair of Crocs Shoes is from a material called Crosliteâ„ ¢. Croslite is a produced using the company’s PCCR (Proprietary Closed-Cell Resin). It isn't plastic nor elastic and it is a shut cell in nature and hostile to microbial (disposes of that foot smell). The uncommon Patented Closed Cell Resin (PCCR) warms and relax with your body warmth and molds to your feet. The Crocs European styling of the orthotic impact point, worked in curve backing, and tarsal bar position your feet for extreme foot solace and wellbeing. Disapprove of Painful Shoes and Hallo crocs Crocs, Inc, a world chief in imaginative easygoing footwear for men, ladies and youngsters, praised its tenth commemoration in 2012. Crocs offer a few particular shoe assortments with in excess of 300 four-season footwear styles. All Crocsâ„ ¢ shoes highlight Crosliteâ„ ¢ material, a restrictive, progressive innovation that gives each pair of shoes the delicate, agreeable, lightweight and smell safe characteristics that Crocs fans know and love. Crocs fans â€Å"Get Crocs Inside† each pair of shoes, from the notable obstruct to new tennis shoes, shoes, boots and heels. Since its commencement in 2002, Crocs has sold in excess of 200 million sets of shoes in excess of 90 nations around the globe. The brand praised coming to $1 billion in yearly deals in 2011. Advertising Concept have 4 components that quickly clarify what the showcasing idea is; Customers Orientation, Competitor Orientation, Inter-practical Coordination and Profit Orientation. In Crocs Inc. Promoting idea is executed to enable the association to recognize and give the client need and need while additionally attempting to accomplish their hierarchical objectives. I will clarify increasingly about the showcasing idea that have been applied by Crocs Company. Client Orientation This Customer Orientation is generally about how the association comprehends their center clients, their objective purchasers and their shoppers in the businesses. This individuals have an extraordinary influence to them in making the perfect item to the ideal esteemed. In light of the Crocs statement of purpose â€Å"Bring significant solace, fun and development to the world’s feet â€Å". Crocs do their exploration what client need and need. They esteem their client toward solace, fun and development footwear. They treat their client so much better that they make their shoes as per what client need in their feet. Crocs have made research and gather different sorts of data that may assist them with satisfying their client needs. That why Crocs have caused different kinds of shoes that to take into account all their customer’s need. The Croslite material that make it conceivable. Crocs characterized Croslite as Ergonomic, lightweight, agreeable and smell safe. Who at any point felt that having a revolting shoe can cause our feet to feel totally unwind? Indeed, Crocs did and it was a triumph. Crocs shoes don't just give supreme solace like different shoes or classy appearance yet it gave more. No more foot smell, not any more hurting feet, not any more substantial shoes and make proper acquaintance with better Healthy Shoes. (crocs, 2013) Crocs have propelled a notice called â€Å"Feel The Love by Crocs†. In the TV ad for Crocs footwear, the entertainer wearing dark high-impact point shoes enters an apartment complex and with tired ascensions a stairway. At the point when she opens the entryway, two little red vivified characters dependent on the Crocs unique stop up model, with thickset arms and legs and blinkingâ ventilation openings speaking to eyes, hurry toward her like pups. The characters stick to her lower legs and afterward, as she sits on the lounge chair to peruse her mail, they take off her shoes, knead her feet, and afterward slip another style of Crocs pads onto her feet. â€Å"Meet Croslite,† says a voice over close to the end and in conclusion says â€Å"the steadfast, adoring, bravo innovation, in each pair of Crocs.† It was an incredible TV ad that shows how Crocs comprehend their center client, purchasers and consumer’s needs and needs. Crocs realizes that the majority of us will have a tiring day and it is a problem to stroll back home with an awkward shoes. The notice needed to convey that Crocs is the perfect footwear to wear whenever anyplace. Other than that, another case of Crocs is Customer direction is building up a shoe called † Crocs Prepair Flip† that emphasis on Athletic like sprinters and cyclists, and so on. The flip-flop upgrade recuperation after athletic movement hence assist lower with muscling efforts can give an improved chance to blood stream and weariness help, making more prominent recuperation potential after a hard energetic exercises. This doesn’t center around the games however to the clients that like to do sports. This shows as opposed to they center around general client need them likewise explicit to certain gathering of client needs. Like in this Crocs Prepair case, they center around the dynamic sprinters, cyclist or different kinds of sports that may causes some of feet harm like weakness or muscle efforts. Crocs have demonstrated that they are Customer Orientation association. (crocs, 2013) Contender direction Contender Orientation implies an association that take a gander at how its rivals can fulfill their purchasers, client or buyers. The association should gather data about their rival technique and in a similar time making their rivals as their benchmark for either present moment or long haul showcasing system. Crocs significant contender is Decker’s, NIKE and Timberland. This significant footwear brands have been around for a long time contrasted with Crocs that is consider as a â€Å"baby† in this Industries. Be that as it may, to contrast the achievement of crocs with them is really same. What makeâ these other contender not the same as Crocs is they have the experience and notable to the world. Crocs have gathered some data of their rival. In light of an article found from the web called The Strategic Move of Crocs, Inc, 2009, Crocs have recognized their rivals and what their rivals are doing in the businesses. Crocs additionally understand that the worldwide easygoing footwear and clothing is a profoundly serious industry. Each contender is rivalry with each other’s. In relating Crocs with its Competitor, I will utilize Nike to make examinations with crocs. (HOOVERS) Notable Brand Name Nike started in the 1971 offered its utilitarian running shoes to the running set, however then immediately extended its contributions to remember all competitors for all intents and purposes each game. The shoes were tweaked to deal with the rigors of the individual game. Nike likewise extended its line to be trendy and cool to wear in any event, when its wearers weren’t perspiring. Analyze Crocs and NIKE, NIKE has been in the worldwide easygoing footwear and attire industry since 1964. It isn't unexpected if Crocs has far to proceed to confront numerous issues before they are comparable to the notable huge organizations around the globe like Nike. However, the potential is awesome as Crocs is show up as classification prevailing shoes. Indeed, even both are distinctive in age yet the two brands are similarly notable to the clients. Who on the planet doesn't know Nike or Crocs? Both have cut a name their image name in the psyche of the clients when they consider shoes. (NIKE,Inc) Between useful coordination Between Functional Coordination implies the individuals in the hierarchical that help in building up an advertising intend to accomplish the authoritative objectives and fulfill the client need and needs. The participation inside the person in the association has an impact in this Marketing idea. In 2007, Crocs obtaining a Designer/maker of shoes for sea shore/activity sports called Ocean Minded. In the procurement, Ocean Minded is presented by Crocsâ and helping Ocean Mind to support up their item. Sea Minded statement of purpose is; To turn into the worldwide pioneer in reasonable way of life footwear, clothing and embellishments while guaranteeing that the four mainstays of the Ocean Minded brand †Quality, Authenticity, Responsibility and Community †reverberate all through our organization, items, partners and activities. This brand encourages Crocs to help up their social obligations toward their representatives, their association, the client, the earth and to the world. Crocs, Inc. what's more, its originators keep on carrying on with the Ocean Minded way of life by effectively driving sea shore clean-ups, and supporting and teaching clients on the significance of leaving the sea and all conduits in preferable condition over when they were found. Accordingly this shows Crocs is Inter-utilitarian coordination as well as a dependable association that needed to help another brand that sole reason to keep the world a superior spot. (crocs, 2013) Benefit direction Benefit direction Benefit Orientation implies a term used to portray a business that works under the essential goal of bringing in cash. Albeit most business endeavors have some type of benefit direction to spur representatives to expand incomes, the best makers likewise consolidate a client direction into their corporate ph

Competition versus Collaboration - Free Essay Example

Competition versus Collaboration Studying so much about collaboration within and outside the organization made me curious about the competition element. So I tired to find out where does the competition lies when we are talking about Collaboration.Christiansen (2000) says that for ?creativity? and ?innovation?, it is important to consider whether ?collaboration? or ?competition? is valuable. Although there are some downsides with collaboration like: collaborative group working independently, resistance dispute, ownership problems, Time pressure in members and their activities, etc.. Despite having such downsides ?competition? is beaten by ?collaboration?. Furthermore, competition among individuals within an organization, in idea generation, forces people to shutdown. Who wins and who looses is based on the rules of the game which includes individuals? competencies and other factors. Whereas in the innovation-process, creativity nourishes with new ideas from a variety of sources. In competition individuals hold back information. Furthermore, the individual might not have a clear picture about the problem in-hand or reduce creative thinking or might not give enough time to think about the solution. Thus, increasing the possibility that the outcome is not a best solution or a best idea. Whereas in collaboration, individuals will be synergistically working together towards their objective. Collaboration is an important part of the innovation stages of selecting the ideas, development and commercializing an idea. In case where competition is outside the organization Nagel (2001) says that Wealth is created by ?competition? and innovation plays a centre role in competition. And ?innovation? is a key which comprises collaboration among competitors. Innovative companies collaborate externally though joint ventures, alliances or less structured forms of networking. Some innovative companies value internal and external competition, not being cut-throat competition with high secrecy or fierce, only to stimulate higher performance in competing projects where the losing teams are happy to support the winning team on their way forward. In such a company, with a positive competitive culture, to lose is not equal to losing face or missing out on the next potential promotion. In companies that believe in collaboration, people cannot help but to collaborate (Mayle 2006).This concept can be seen apprentin the Ripple Effect (IDEO 2009) project model from IDEO where different organizations collaborate to provide inspiration, deign and business support to entrepreneurs in development of new offering. I have attached a video below showing how companies are collaborating to provide clean drinking water for the poor The Ripple Effect in India, by IDEO and Acumen Fund from IDEO on Vimeo. Reference: Christiansen J. A., 2000 Competitive Innovation Management: Techniques to Improve Innovation Performance, Publisher: Palgrave Macmillan IDEO 2009, Ripple Effect: Access to safe drinking water for Acumen fund and The Bill Melinda Gates foundation [Online], Available:https://www.ideo.com/work/item/ripple-effect-access-to-safe-drinking-water/ Mayle D. 2006, Managing innovation and change, Publisher: SAGE Nagel S. 2001, Handbook of Policy Creativity: Creativity at the cutting edge Publisher: Nova Publishers, Social Media and Networks In the last few years, the number of users accessing the internet is expanding and an exponential rate. Users looking for any kind of information are searching the internet. Organizations are shifting or starting businesses online spending a lot of many to get traffic to their site. But with the hype of internet and web 2.0, these companies are using the internet to market and advertise their products and services through social media channels like facebook, twitter, youtube etc. It is the most low cost promotion method available today. Now a day marketers are using social media as their primary advertising platform as it is able to capture mass audiences. Its somewhat similar to TV advertising . In our business plan this social media and networks is playing an important part in advertisement. Companies are more concerned about their social graph ranks about products and services then how Google ranks them. The social media channels are creating content for the SEO (Search Engine Optimization) and SEM (Search Engine Marketing) to work for the companies social media strategy. The content creation strategy should be aligned with the social media strategy to drive users towards taking action ( PR News 2009) There are three kinds of people who doubt the efficiency of social media. * Who are unaware about social media. * Who are interested in it but do not have knowledge to use it * Who doubts the social media strategy could benefit the business or their website(Jue et al. 2009) Social media should be included in the brand strategy because it will help consumers in the adoption process, laid out by Rogers (1962), which are (1) awareness, (2) interest, (3) evaluation, (4) trial, and (5) adoption, by spreading the awareness of the brand and answering the questions about the benefits the brand will provide. Social media will communicate the brand at all emotional levels. Furthermore, feedback will help in improving and evolving the brand. Bauknecht (2005) says people are believing and trusting more on peer recommendations than an advertisement. According to Warner (2008) social media networking might be just waste of time because the amounts of time individuals are spending on it. According to a survey, there is an estimated cost of 6.5 billion per annum for loss in productivity and high bandwidth usage Britains social media fanatics spent like 12 hours per week on social media websites wasting value time. Young generations are also spending so much time on it. It was already hard to get the video game generation to focus on their studies. Lets see how much time it takes to spend on social media I am not a blogger or a social media fan. I did not have a Facebook account. I belonged to the category who doubted that social media could not benefit the business as advertising does. Now for me realizing the potential of social media was a huge eye-opener. I cant imagine how I could be ignoring it even after noticing all the online websites and other friends are on some kind of social media. However, after attending the Presentation of Chris Ramsbottom, former student of LUMS, and listening to his experiences regarding convincing the top managed about the importance of social media made me realize that I am not the only one. Now I have almost all the major social media channels and to expand my knowledge further regarding social media, I just got a book The Social Media Bible: Tactics, Tools, and Strategies for Business Success 2009 by Lon Safko, David Brake and a digital copy of Social Media Marketing for Dummies 2009 by Shiv Singh. Also an iPhone to keep in touch with the social media networks However, it is important to understand how to utilize social media effectively by clarifying what actually is required from the social media either increasing sales or brand awareness of products or services. It will avoid wasting valuable time. Reference: Bauknecht K., Prll B. and Werthner H. 2005, ?E-commerce and web technologies: 6th international conference, EC-Web? Publisher: Springer Science Business Perez S. 2008, ?Real People Dont Have Time for Social Media? [online], Available: https://www.readwriteweb.com/archives/real_people_dont_have_time_for_social_media.php PR News 2009, ?SEO SEM 3.0: Demystifying Social Media Optimization to Bring Consumers to You?, PR News, April 27, https://www.proquest.com.ezproxy.lancs.ac.uk/ (accessed December 13, 2009). Jue A.L. , Marr J.A. and Kassotakis M.E. 2009, ?Social Media at Work: How Networking Tools Propel Organizational Performance? , Publisher: John Wiley and Sons Rogers, Everett M. (1962). Diffusion of Innovations. Glencoe: Free Press. Warner B. 2008, ?Times Online : Is social networking a waste of time[Online], Available: https://technology.timesonline.co.uk/tol/news/tech_and_web/article3536749.ec Mass Production I have been absent from the working log for quite sometime. Was really busy in group meetings, presentations and assignments etc. just finished my toughest assignment for SAP which is due day after tomorrow. Im relaxed now and having a cup of tea and startedwriting my learning log again Mass Production Honestly when I saw the week 6 questions I thought mass production will be boring and just time consuming, there would be nothing interesting about it except the word mass production but after seeing a clip of Charlie Chaplin at the time of lecture actually started my interest. I was fascinated to find out how industrial revolution began and how change actually happened. Most of the people live their lives and dont bother to look at the history like how we, as people, got to current situation. How we, as people progressed. It made me feel proud how we as human beings progressed through passage of time. The Industrial Revolution consisted a period from 18th to the 19th century where changes on manufacturing, transport and agriculture had an enormous effect on social, cultural and economic conditions first starting in UK. UK is the place, in the 18 century, where first manufacturing operations were specifically designed to reduce production costs by specialized labour and the use of machines appeared (britannica.com). Then afterwards spread to Europe, North America, and eventually the world. It was interesting to read about Model T a model of car produced by the Ford Motor Company between 1909-27, first car to be successfully mass-produced on an assembly line. I was a little bit curious what is the significance of the letter T. Just noticed it is 20th letter of the alphabet. So Model T is THE MODEL OF THE 20TH CENTURY. (Babylon dictionary) The main characteristics of MODEL T is the Standardization which lead to economies of scale during production, Division of Task which led to higher productivity. Specialism which lead to easy training of new workers in different departments Payment procedure, more parts produced the more money earned, led to overcoming the problem of high labour turnover Concentration where specialist making the decision instead of Workers Interest to read more about Model T and suggestion from Mary on The limits of Fordism led me to a paper onThe Rise and Decline of Fordism and the Sea-Change in the Technological Advantage of Nations 2004 by Andrew Tylecote and Giovanna Vertova, who states that in the manufacturing industry there are 3 functions 1. Design 2. Manufacture process of turning inputs into outputs 3. co-ordination management The larger the firms became, under Fordism production, the more co-ordination was required; the faster technology and products changed and the pace of change was steadily accelerating, the more design was required. It is to be noted that Fordist production methods was actually derived from the transformation of previous organization of production notably Taylorism. It was actually Taylor in his Bethlehem Steel plant where craftsmen were subordinated directly to engineers who allocated tasks to workers. Fordism production, in Kaplinskys words, had distinct spheres. Photobucket Mass production system of Fordism was marvellously efficient and the model can be valued by the concept of ?transformation mechanisation which has 3 stages referred by Coombs (1983). Stage 1: The dedicated machine tool, lower labour cost and higher production Stage 2: The assembly line of continuous flow mechanical moving of materials between different stages of transformation. What Fordism lacked was the 3rd stage i.e. Control mechanisation which is the substitution of machines for the human brain in the direction and supervision of the productive process.What was needed, for control mechanisation, was machine intelligence and that was the next techno-economic paradigm development of ICT. Later on flexible form of mechanisation was made possible by Computer-aided manufacturing. Computer aided manufacturing which later on joined with computer aided design. The use of ICT in the process of coordination was increasingly recognized which led the development and diffusion of internet. Coming from a family business of clothes manufacturing, for me I understood perfectly about the boredom the workers experience for constant doing the repetitive work in mass production.Even after the policy of wages were based according to the amount of output a worker does i.e. wages paid for each item of work they do, the motivation increases but eventually comes down and the element of boredom re-appears. By looking at the theory of the law of Diminishing Marginal Productivity of labour (sometimes called the law of diminishing returns). It states that the increase in output due to units increase in labour working hours will eventually decline.(Jacques, Ian 2006) Which means if a worker is working 10 hours in a day ,His efficiency in the 1st hour will be higher than the 2nd hour. 2nd hour skill of production is more than the 3rd hour. In his last hour that is in the 10th hour his efficiency will be very very low .It may be zero or negative. Which was apparent in the case of Charlie Chaplin in the MODERN TIMES movie clip, that was seen in the class, when he lost his mind after repetitive working of loooooog hours and his productivity became negative In the book Mathematics for Economics and Business by Jacques, Ian gives an exmple: In the simplest case output, Q, is assumed to be a function of labour, L, and capital, K. Moreover, in the short run the input K can be assumed to be fixed, so Q is then only a function of one input L. (This is not a valid assumption in the long run and in general Q must be regarded as a function of at least two inputs. Methods for handling this situation are considered in the next chapter.) The variable L is usually measured in terms of the number of workers or possibly in terms of the number of worker hours. We define the marginal product of labour,MPL, by dQ = MPL dL Between 0 and L0 the curve bends upwards, becoming progressively steeper, and so the slope function, MPL, increases. Mathematically, this means that the slope of MPL is positive: that is, d(MPL ) 0 dQ Now MPL is itself the derivative of Q with respect to L, so we can use the notation for the second derivative and write this as d2Q - 0 dL2 Similarly, if L exceeds the threshold value of L0, then Figure 4.17 shows that the product curve bends downwards and the slope decreases. In this region, the slope of the slope function is negative, so that d2Q 0 dL2 The law of diminishing returns states that this must happen eventually: that is, d2Q 0 dL2 for sufficiently large L. Conclusion: To increase the productivity of a labourer and to reduce the cost of production. Reducing working hours of a shift is necessary. Reference: Andrew Tylecote and Giovanna Vertova 2004, The Rise and Decline of Fordism and the Sea-Change in the Technological Advantage of Nations www.giovannavertova.it/WP06.pdf britannica.com https://www.britannica.com/EBchecked/topic/368270/mass-production Babylon dictionary https://dictionary.babylon.com Jacques, Ian 2006, Mathematics for Economics and Business, Pearson Education UK, p. 268-271 https://lib.myilibrary.com.ezproxy.lancs.ac.uk/Browse/open.asp?ID=60204loc=Cover Kaplinsky (1984) Fordial Organisation Of Factory Production, p. 24 Perez Coombs. (1983). Structural Change and Assimilation of New Technologies in the Economic and Social Systems, Futures, 15(5): 357-375. disruptive technology It is a term which Christensen described as a new technology in this book the innovators dilemma by categorizing new technology into 2 categories: Sustaining technology incrementing improvements in an existing established technology Disruptive technology new technology, may not be perfect but appealing to a limited audience. Has initially little value and does not create attention among the dominate players in the industry. Disruptive technology usually targets new areas within the current industry with a new approach and could dominate an existing market. I will give 2 examples of disruptive technologies. Firstly, in my technology module, I found cloud computing a very disruptive technology. Its potential value cannot be ignored or denied. There were number of phases involved in the evolution of cloud computing, which include application service provision (ASP) and Software as a Service (SaaS) (Velte et al. 2009). In 2006, Amazon launched a commercial web service called Elastic Compute cloud (EC2) allowing small companies and individuals to renting I.T. infrastructure and computing power to run their own computer applications (LaMonica 2006). Cloud computing service is risk free and Easy to use. One does not have to buy anything or invest hugely into it. The technology is flexible; adjusting to the companys requirements and also easily scalable; fulfilling the needs of the companys growing demands. Just imagine in an industry where customers, had to pay upfront for a technology for which they may get 20-30% use, could use this cloud computing technology model and pay only for what is used and when it is used. It can be seen that the barriers to the entry of customers, around cost and complexity, are going to come down so dramatically that the cloud is going to open up much more usages of IT for small medium businesses. Emerging markets can be seen in countries, where just the cost and complexity have been barriers. Developing countries like Brazil rushing, China, India and beyond are going to end up using the technology in ways they have never been able to use it before and in ways we have never seen before. The second disruptive technology I found was the Google announcement of Google Navigation Map product for FREE, which was one of the innovation searches in our workshops. This product is used by connecting to the internet to Google cloud computing technology providing all the services of a traditional Sat. Nav and much more. By looking at the stock market of Garmin, one of the leading companies of navigation system providers in the GPS industry, we could actually see the market reaction to such a disruptive technology in just a couple of days from announcement, last year, in October 2009. TomTom and other companies are also affected. This product is targeted to price sensitive customers with offering excellent features and capabilities for FREE. With good understanding of the term disruptive innovation and disruptive technology, broadered my view of anticipating whether any new technology, i came accross, will prove disruptive or not. References: * Christensen C.M. 1997, The innovators dilemma: when new technologies cause great firms to fail, Publisher: Harvard Business Press * Gurley B., Google Redefines Disruption: The Less Than Free Business Model [Online],Available: https://abovethecrowd.com/2009/10/29/google-redefines-disruption-the-%E2%80%9Cless-than-free%E2%80%9D-business-model/ [Accessed December 1, 2009 ] * LaMonica M. 2006, Amazon servers, starting at 10 cents an hour [Online], Available: https://news.cnet.com/Amazon-servers,-starting-at-10-cents-an-hour/2100-1038_3-6109202.html [Accessed December 1, 2009 ] * Velte T., Velte A. and Elsenpeter R. 2009, Cloud Computing: A Practical Approach, Publisher: McGraw Hill Professional disruptive innovation The term Disruptive innovation is thought up by Clayton Christensen, who describes the term as a process by which a product or service application starts from the bottom of the market and manoeuvres up in the market displacing established competitors. (christensen, 2009) I read an interesting book The innovators guide to growth: putting disruptive innovation to work by Scott. It describes the disruptive innovation theory: the market consists of customers some of which are at a high end, very demanding, and willing to buy high-performance, expensive products. While others are low end and satisfied with simple and inexpensive products. Customers lives are not changing as fast as most organization or companies are innovating. These fast innovating companies end up producing goods, sustaining innovations, that are too good, too expensive and sometimes too inconvenient for many customers. The disconnect between the capabilities of a product and the customers ability to use them opens up an opportunity for innovators who brings to a market a disruptive innovation that is simple, convenient, accessible and affordable. Thus, changing the game of the market. The disruptive innovations can be broadly classified into two types: new-market and low-end disruptive innovations. The new-market disruptive innovation, which succeeds because they bring previous non-consumers into the market, whereas a lower-end disruptive innovation is aimed at mainstream customers for whom price is more important than quality. Disruptive innovations can be generally be divided into new-market and low-end disruptive innovations. A new-market disruptive innovation is often aimed at non-consumption (i.e., consumers who would not have used the products already on the market), whereas a lower-end disruptive innovation is aimed at mainstream customers for whom price is more important than quality. Low-end disruption has occurred repeatedly in retailing. Disruptive innovation will result in major changes, but they don?t often rely on technological breakthroughs. In fact, many times the technologies are quite trivial. It?s the Business Model the way a company organises and acts that drives disruptions. Taking the example of Wal-Mart, who opened their first discount retailer in 1962, they didnt start to sell goods that are different from their competitors, they created a new way to organize and act that allowed them to make money at low price points. So it?s not often the technology but is the businesses model. I read about many other models that shows the difference between disruption and sustaining innovation like the personal computer, eBay online model etc. the most interesting one is from the video games industries. Contrast the Sony PlayStation 3 product with the Nintendos Wii product. The PS3 is a technological marvel. The best game play you can find, great graphics, the blue ray disks in the player. It is aimed at the heart core gamers, the most demanding consumers in the games industry. Now Nintendo has innovated in a very different way. Instead of introducing games with better graphics Nintendo made it simpler, made it more accessible. The big innovation is the controller. Nintendo is consciously targeting the non-gamer and by doing so it has greatly expanded the market for the video games by reaching people that Sony wouldnt even think about targeting. Not winning it by doing it better but by winning it by doing it differently. (Ali Farhoomand, 2009) In the EBIN 504 innovation module understanding of the concept of disruptive innovation helped me understand more how to look at the market or industry to Spot Disruptive Innovation Opportunities which had helped me in my EBIN 503: Business Planning Module where we had a workshop for idea generation for starting a business. I also in thebook The innovators guide to growth I learned that, firstly we had to look for a market or industry where there is some kind of constraint that inhibits consumption where there is something that makes it difficult for people to solve problems in their life. Sometimes they dont have skills, sometimes they don?t have money, and sometimes they cant access the solution and sometimes its just takes too long. Finding one of those barriers to consumption and see how you can obliterate it. Secondly we had to identify where people have important and unsatisfied jobs to be done. Where are problems that a customer faces that they cant adequately solve today. If we can find that frustrated customer and ease their pain we often times have the ticket to disruptive innovation. Then after we have looked for the constraint innovation and targeted that job to be done, then we think thought about how we can play the innovation game differently. With better understanding of the concept of d isruptive innovation theory, I understood its not about doing it better, its about making it simpler, cheaper, more accessible, more affordable. That is what disruption is all about. (Scott D. Anthony, 2008) References Ali Farhoomand, H. J. (2009) Nintendos Disruptive Strategy: Implications for the Video Game Industry. Feb 10, 2009, Harvard business publishing. https://harvardbusiness.org/product/nintendo-s-disruptive-strategy-implications-for-th/an/HKU814-PDF-ENG Christensen, C. (2009) Disruptive Innovation. https://www.claytonchristensen.com/disruptive_innovation.html John Bessant, J. T. (2007) Innovation and entrepreneurship John Wiley and Sons, p. 229-34, 247 Scott D. Anthony, M. W. J., Joseph V. Sinfield, Elizabeth J. Altman (2008) The innovators guide to growth: putting disruptive innovation to work, Harvard Business Press PLATFORM INNOVATION Platform in simple words means pictures of major subsystems and interfaces between these subsystems. The platform innovation is defined as one that leads to the practical application of fundamental innovations. Such innovations normally are launching pads for a new industry I read a journal Platform-Innovation drive enterprise growth. It was very fascinating to see how Platform thinking for physical products played an important role in the companys transformation of its traditional mainframe business to a Web server business. Also product platforms require accurate operational definition without which its difficult to achieve progress, but many organizations are lacking in applying this definition. New product strategy must be remodeled to capture the degree to which common architectures and subsystems will be leveraged across existing and new market applications, as well as the timing of product introductions. (Marc H Meyer ad el. 2001) In the EBIN-521 e-Technology module I have learned that the Internet has evolved from web 1.0 to and Web 2.0 to become an increasingly important platform not just for economic development, communication, educational purposes, and as an area for entertainment, but also as a place for those who wish to express their opinions and ideas freely and is now considered web as a platform which doesnt have a hard boundary Figure 1 shows a meme map of Web 2.0 that was developed at a brainstorming session during FOO Camp, a conference at OReilly Media. Its very much a work in progress, but shows the many ideas that radiate out from the Web 2.0 core. (Tim OReilly 2005) from the above figureabovewe can have an idea of Web as a platform.Web 2.0 can be conceived as blocks of principles and practices that are interconnected system of sites, where software and web applications are built upon the Web as opposed to upon the desktop. The uniqueness of web 2.0 is customers are building your business for you. (Tim OReilly 2005) Everything is platform in web 2.0 era. I found this comic very interesting. In the EBIN-521 e-Technology module and EBIN-503 Business Planning Finance Planning we are going to plan to have an open API (application programming interface) as part of our e-business. Open API is a platform innovation concept, where other developers uses Open API to come up with a new combination for an innovation, which leads to more innovation. Application Programming Interface (API) is an interface that a software program implements in order to allow other software to interact with it; much in the same way that software might implement a user interface in order to allow humans to interact with it. (Wikipedia cited: on Nov 2009).For example In September 2009 programmableweb.com announced that ithad 16 new Mashups in their Mashup Directory and 28 different APIs were used to build them in different combination (programmableweb.com 2009). At the website link provided below in the reference shows a list of API used in different meshups An an exampleof a web ping.fm (https://ping.fm/)It is a web application for Managing Social Networks. It is linked with 46 social websites like Twitter, Facebook, myspace,blogger, beboetc. You can create an account with ping.fm and link it to any social websitefrom the list of 46. And if you want to post something like any news or update you can just post once on ping.fm and it will posted to you all the LINKED services you added to your ping.fm account. Now pink.fm provides OPEN API. Byusing their opi functionality any web-developer or business organization can build their business In our business plan, we will be having an OPEN DATA API and TRANSACTION API in our eBusiness as a open platform for other developers build or develop their web-application or software , hence building their business using our platform or in other words building our business for us Reference: Make platform innovation drive enterprise growth By Marc H Meyer, Paul C Mugge, Publication title: Research Technology Management. Arlington: Jan/Feb 2001. Vol. 44, Iss. 1; pg. 25, 15 pgs Wikipedia.org https://en.wikipedia.org/wiki/Application_programming_interface#cite_note-0 John Musser 2009 28 APIs Used This Week: Open Government, Wikipedia, New York Times, and Football Nerds https://blog.programmableweb.com/2009/10/04/28-apis-used-this-week-open-government-wikipedia-new-york-times-and-football-nerds/ Realinnovation- 2008 https://www.realinnovation.com/dictionary/Platform_Innovation-312.htm dilbert.com 2007 https://www.dilbert.com/fast/2007-09-09/ Tim OReilly Design Patterns and Business Models for the Next Generation of Software 2005 https://oreilly.com/web2/archive/what-is-web-20.html understanding Dominant Design Dominant Design a product configuration which endures; a particular combination of product features which appears to satisfy the market and survives, without major change, for some time. (Don Bradmore 2004) Often in dominant design route there are many competitors involved each one introducing many products with special features but the firm that are able to imitate the dominant design survive while those that cannot fail. The design typically remains a standard product model for many years during which firms compete on lowering costs through process innovations. In the technology industry number of alternative design are often introduced by firms e.g. Microsoft Windows, Apple Inc. Mac OS and IBM OS2). Updated designs are introduced later incorporating incremental improvements. After sometime the architecture that becomes most accepted as the industry standard may emerge e.g. Microsoft Windows. Dominant designs might not be better than other designs in the market place; however they fulfil the key requirements. Many technologies, currently in use, struggled with similar competing products before gaining the dominant design. According to Markides and Geroski (2005) until the standard is emerging consumers are affected by issues of choice and have to learn what the innovation is for and how they will use it. Consumers needs to understand the innovation and how the new innovation will fit with their consumption patterns and values. In my home country Pakistan in the early 90s it was slightly different because Microsoft as an OS introduced in the country when it became dominant. Before that there was no alternative choice. Microsoft OS was widely used because it wasnt confined to confined to hardware like Mac is with Apple Hardware. There weren?t any wide usage of Mac and OS2. First time I heard about Apple and Mac when I say a bibliography documentary on ?Steve Jobs? co-founder of Apple, in the mid 90s. Linux has become useful Operating System product and are being widely used. But even now the majority general public are aware of only Microsoft Windows OS. I myself was use Microsoft Windows. I was happy with Vista even after so many problems with Vista and wasn?t found of upgrading to Windows 7 but when various features was discussed about Windows 7 in the class I upgraded my OS to windows 7. It?s an going process for maintaining its dominant position by evolving continuously with adjustment and improvements b eing made to the product. This improvement becomes part of the standard of that dominant design with time. In my opinion it is very unlikely that in the near future that any other OS will become dominant. Google is developing an operating system (OS) This is the first time we have had a truly competitive OS on the market in years. This is potentially disruptive and is the first real attempt by anyone to go after Microsoft Google OS, launches its own OS (BBC News 2009). I think Googles key success element would be to completely abandon their current direction, build a hypervisor based OS instead, and provide a product that can virtualizes EVERYTHING. Meaning Google will have taken a revolutionary step forward if Google OS could run all Apps of Apple, Linux, and Windows OS on top of Google based hypervisor. They might capture some good market share but will the product diffuse? Or will it become a dominant design in the future?very unlikely but for an accurate answer we have to wait. On the other hand The emergence process for dominant designs has typically been viewed as a black box process involving a sophisticated interaction of technological and non-technological factors (Lee et al. 1995). A dominant design does not always emerge, even many years after product introduction. Game consoles are an example: Microsoft Xbox, Nintendo Wii, and Playstation 3. References: * Don Bradmore 2004 (c) Copyright Reprint Courtesy of the Dept. of Marketing, Faculty of Business and Economics, Monash University; edited by Mr. Don Bradmore. * Markides, Constantinos C Geroski, Paul A. (2005) Fast Second How Smart Companies Bypass Radical Innovation to enter and Dominate New Markets. * Google to launch operating system By Maggie Shiels Technology reporter, BBC News, Silicon Valley , Wednesday, 8 July 2009 * Lee, Ji-Ren, Donald O?Neal, Mark Pruett, and H. Thomas. 1995. Planning for dominance: a strategic perspective on the emergence of a dominant design. RD Management 25/1: 3-25. understanding diffusion It was very interesting to know that diffusion process of innovation explains how, why and at what rate innovations (4P) spreads. And how an innovation is understood, by individuals, in different societies. Rogers has defined essential characteristics of innovations itself that influence an individual?s decision to adopt or reject an innovation 1. Relative advantage- has the innovation improved from the past? 2. Compatibility- is it consistent with the existing needs and values? 3. Complexity- is it simpler for the individual to adopt? 4. Trialability Can I try it first by avoiding potential risks? 5. Observability- can I see its benefits? The individual goes through Five stages of the adoption process of innovation which correlates with the evaluation of the characteristics of innovation 1. Knowledge- do I have enough knowledge of the innovation? 2. Persuasion I need more information about this innovation! 3. Decision I know the pros and cons of using this innovation. Now should I buy it or reject it? 4. Implementation- now using the innovation can I see is usefulness? And should I further search for information ? 5. Confirmation- this innovation is Great! I will continue using the innovation. Furthermore Rogers also categorized adopters into five different segments: innovators, early adopters, early majority, late majority, and laggards. But the most important element in the continuity of innovation diffusion depends upon the continual Reinvention or Redevelopment of the innovation; how it evolves to meet the needs of more demanding risk-averse individuals in the diffusion process. Looking at what I mentioned so far made me realize how I opted an innovation process to start a business online on eBay. eBay transformed trading from the real world to the virtual world forming a new eMarketplace. Although I come into late majority segment in adopting eBay as a process. I went through all the phases mentioned above by evaluating the characteristics of innovation itself and stages of adoption. Although I was aware of the innovation quite a while ago but the adoption process took a while to reach to the confirmation stages. If I had the present knowledge at the time, when I was aware of the eBay innovation process, the adoption process might have been faster. The reason why I mentioned the above theory of diffusion because it really intrigued me because all rational people goes through this process in one way or the other, but knowing the platform of process will guide me in future to evaluate any arisingopportunity. Further info Lec 3 The theory of innovation diffusion analyses and provides explanation to individuals, from any discipline, a theoretical abstract prototype for understanding the process of diffusion. An innovation is an idea, practice, or object that is perceived as new by an individual or other unit of adoption. The perceived newness of the idea for the individual determines his/her reaction to it (Rogers, 1995). There are numerous variables is involved in the diffusion process. It occurs in an unpredictable manner; identifying adopter-consumers is difficult, measuring influencers in communication social processes is complicated. So having a diffusion process model is difficult (Roberts, Thomas S.1967) 1. Rogers, (1993 p.5) provides a simplified model of diffusion process by which an innovation is communicated through certain channels over time among the members of a social system. Thus, the four main elements of the theory are the innovation, communication channels, time, and the social system whic h offers three valuable insights into the process of social change: 1) What qualities make an innovation spread successfully? 2) The importance of peer-peer conversations and peer networks. 3) Understanding the needs of different user segments. 1) What qualities make an innovation spread successfully? Firstly the theory focuses on evolution or ?reinvention? of products and behaviours which fits the need of individuals and groups. Roger recognizes five qualities that determine why certain innovations spread more quickly than others while others fail. 1. Relative advantage, 2. compatibility, 3. complexity, 4. trialability 5. observability, The continuity of innovation diffusion depends upon the continual ?Reinvention? or ?Redevelopment? of the innovation; how it evolves to meet the needs of more demanding risk-averse individuals. 2) The importance of peer-peer conversations and peer networks. Secondly adoption of innovation is uncertain and involves risk management in its early phases. Interpersonal marketing methods like advertising and media stories may spread information about new innovations, but it is ?peer to peer conversations? that cause them to be adopted. Early Adopters are exceptions in this rule are. They are confident, better up to date about the innovation and being financially secured perceive risk as low. Their Short term preferences might have disproportionate impact on the subsequent development of the innovation resulting abandonment of superior alternatives (Bessant Tidd (2005) p227)3 .Whereas the rest of the population perceive high risk in change and resist change.By trusted peers they can come to know the benefit of adopting innovations. Peer-peer communication leads to ?peer networks?. Peer-networks are becoming very popular and useful method in innovation diffusion by using influencers like opinion leaders and ?viral marketing?. 3) Understanding the needs of different user segments. Population can be divided into five segments according to their tendency to adopt specific innovation. Innovators: venturesome, cosmopolite, risk-taking, information seeking, with a higher financial status. ? Early Adopters: greatest degree of opinion leadership, respected by other members of social group. Strategies with a motivational emphasis may be most effective at getting them involved in the diffusion process. ? Early Majority: deliberate, adopt new ideas just before the average member of a system. ? Late Majority: skeptical, adopt new ideas just after the average member of a system. The pressure of peers is necessary to motivate adoption. Intervention strategies that help them to overcome barriers are needed to get them to take up the innovation. ? Laggards: traditional, last in a social system to adopt an innovation, pays little attention to the opinions of others. it is a systematic balance of the following to find out how much and to what extent, diffusion and adoption of an innovation Characteristics of innovation VS Characteristics of individuals or Organizational adopters VS Characteristics of Environment And Institution (Bessant Tidd 2007 p.342) 5 There are various barriers preventing the diffusion of innovation Economical barriers ? Personal cost vs social benefits, access to information, insufficient incentives Behavioral barriers ? Priories, Motivations, Rationality, Inertia, propensity for change or risks Organizational barriers Goals, Routines, Power and influence, culture and stakeholders Structural barriers ? Infrastructure, sunk cost, governance Financial / Business barrier Is the benefit worth the investment?, Who benefits?, Who pays?, Financial rewards Structural Barriers Structure of the health care system, Relationship between payers and providers, Nature of the marketplace ? multiple vendors, Lack of system and data interoperability, Regulations ?data privacy and confidentiality Cultural Barriers, language, religion, history, requires acceptance in a larger cultural norms and others Technological barriers: not demanding too much in the way of new skills Technical and Professional Barriers Lack of professional work force, Lack of strategic organizational process to develop commitment of all stakeholders TIPPING POINT The most fascinating term I found is the tipping point.. Small events can have a nuclear reaction effect resulting in early-adaptors to the diffusion of innovation. It has become a popular idea in encouraging diffusion once it is understood. Malcolm Gladwell, (2000)6 explains the tipping point as a phenomenon of social change as a result of a certain influential individual whom he called the ?mavens,? ?connectors,? and ?salesmen.? There are some similarities with Roger?s theory, for example, they both need the early adopter to help diffuse. Reference: 1) Robertson, Thomas S., U. California, Los Angeles Title: The Process Of Innovation And The Diffusion Of Innovation. Source: Journal of Marketing, 31(1), 1967. pp. 14-19. 2) Les Robinson Title A summary of Diffusion of Innovations Source: Article A summary of Diffusion of Innovations https://www.enablingchange.com.au/Summary_Diffusion_Theory.pdf 3) Bessant Tidd Source: Book: Managing innovation 3rd Edition 2005 4) Everett M. Rogers, Source: Diffusion of Innovations, Fifth Edition 2003, Free Press, New York, p221 5) Bessant Tidd Source: Book: Innovation and entrepreneurship 2007 6) Gladwell, M, Source: Book: The Tipping Point: How Little Things Can Make a Big Difference, Little Brown and Company, 2000 Lecture 3 It was very interesting to find out that there is actual a method by which a person can have an approximation on, how much and to what extent, diffusion and adoption of an innovation. it is a systematic balance of the following: ( Characteristics of innovation VS Characteristics of individuals or Organizational adopters VS Characteristics of Environment And Institution) in otherwords innovation adoption and diffusion is effected by segmented Individuals perceptions of the characteristics of innovations, i.e.Relative advantage, compatibility, complexity, trialability and observability, in a social and economical environment. Process of commercialization and diffusion also effects adoption of innovation. Talking the innovation search New Camera promises to capture your whole life, using the above methods, we have measured the business potential of this innovation and its diffusion expectation.Making me realizetheimportance of this diffusion process. Hence innovation is a necessarily chaotic and uncertain process in its early phases but short term preferences of early adopters might have disproportionate impact on the subsequent development of the innovation resulting abandonment of superior alternatives today never expected for the class to be so interesting.. there was bombordment of new innovation types going on in the world..there was no wiki search relating to position innovation. i was tired that day but i felt so fresh in the class. Understanding concepts and theories by applying them in real world in real-time was really refreshing. cant wait for the next class group name selection criteria The biscuit treat is a good idea but tutor should?ve mentioned that the group choosing the best group name will get those chocolate biscuits. I?m still thinking on what criteria the tutor decided that Octopus or octoplus or octuplaas is a best name. The tutor still didn?t get the Group name correct I think neither did anyone. The tutor should?ve asked every group the reason for choosing such a name. We choose our group name ?Lollipops? because our group are made up of people coming from different cultures, colors, languages, values and tastes ..just like lollipops comes from different flavours, styles, colors and tastes. And above all we found our group to be very sweet ?.. I really wanted those chocolate biscuits. The biscuit treat is a good idea but tutor should?ve mentioned that the group choosing the best group name will get those chocolate biscuits. I?m still thinking on what criteria the tutor decided that Octopus or octoplus or octuplaas is a best name. The tutor still didn?t get the Group name correct I think neither did anyone. The tutor should?ve asked every group the reason for choosing such a name. We choose our group name ?Lollipops? because our group are made up of people coming from different cultures, colors, languages, values and tastes ..just like lollipops comes from different flavours, styles, colors and tastes. And above all we found our group to be very sweet ?.. I really wanted those chocolate biscuits Lecture at 8th Oct. It was interesting to find out that the term ?innovation? has being going on since the stone ages in fact it made me realize that innovation is a basic human instinct which every human being are born with. I thought innovation is a concept that came into existence after the formation of civilization. Two tutors in one module delivering the lecture at the same time is interesting and this course sounds really valuable and important but the course structure is quite confusing. I am still trying figure out how this course will enhance the innovation knowledge or aspect because we got our 1st assignment to find OURSELVES some news relating to innovation not being more than 1 week old and I still don?t know entirely what innovation REALLY is and how to identify it. All I know so far is taking something already existed and improving it to do better. It must surely be something more than this. I should?ve read a 700 pages book regarding ?basics of innovation? before attending the first lecture

How Social Media is Effecting Social and Communication Skills Among Adolescents - Free Essay Example

Sample details Pages: 2 Words: 595 Downloads: 7 Date added: 2019/04/10 Category Society Essay Level High school Tags: Social Media Essay Did you like this example? Social media has taken over everything especially on real life communication. To begin with, the way people communicate on social is not the same way as before. Internet based life and online correspondence is accepted to effectually affect social abilities and correspondence among youths. Don’t waste time! Our writers will create an original "How Social Media is Effecting Social and Communication Skills Among Adolescents" essay for you Create order In the no so distant past online networking did not exist and social correspondence and cooperation were the main method for imparting. Web-based social networking likewise makes a picture for individuals based off their profiles, posts and pictures. Be that as it may, today individuals can convey and banter through web based life from anyplace on the planet. This is accepted to frustrate societys social aptitudes and correspondence, and even reason emotional wellness issue. A standout among the most detectable impacts of internet based life on society is social correspondence. Social aptitudes and communication are credits individuals need to prevail throughout everyday life. It might be difficult to see, however kids manufacture these aptitudes as they grow up communicating with other kids in up close and personal situations. Online life is extremely restricting associations amongst kids, and above all, amid a pivotal time in their lives. Whenever kids and teenagers are youthful is the time when social aptitudes are being constructed. Albeit internet based life can adversely affect immatures social abilities, it might really be emphatically affecting connections among peers. High school years are regularly intense for some. It is a period of stress, learning, and perplexity. Solid connections among companions are the way most youths adapt to pressure. The utilization of online networking and being able to stay associated with companions may emphatically affect connections among peers. On the off chance that internet based life is utilized effectively as for this situation of saving connections, youths social aptitudes ought not to decrease to such an extent. Having solid associations with companions may simply change issues with social abilities among youths. A negative segment that accompanies online networking is digital tormenting, and it can be a noteworthy reason for the abatement in social abilities among young people. Internet based life considers young people to get in touch with each other at any snapshot of the day. At the point when an understudy who is tormented throughout the day at school, they are soothed to return home to get away from the antagonism and pitilessness. Nonetheless, web based life has made it about difficult to get away from the cruel words and mean remarks of others. Always being tormented will effectually affect a juveniles confidence and certainty. It will make youngsters apprehensive to interface in school, get associated with games, and general abatement their social inclusion. Social and relational abilities among teenagers are critical aptitudes that are encountering both negative and constructive outcomes from web based life. There are conspicuous parts of online networking that are hurting social aptitudes, for example, spending various hours on Instagram, and after that there are unpretentious angles, for example, the like component. There is nothing unexpected that web based life is digging in for the long haul with its accessibility and value in the public arena today. Clearly web based life is a noteworthy segment of ad for organizations and correspondence for individuals around the globe, and this is totally adequate. Be that as it may, the line must be drawn when internet based life is seen devastating youthful social aptitudes, correspondence, and causing hostile to social conduct. In the event that web based life is utilized effectively, for example, keeping up connections among peers, social abilities and correspondence for young people ought t o stay unblemished.

Customer Consultation On Risk Management - 1314 Words

FOCUS ON THE MAJOR ACTIVITIES RATING A. Provide customer consultation on risk management needs Xxx understands the importance of remote risk management consulting and the impact it can have on the retention of the business. She pays close attention to the needs and requests of the clients. Xxx has a strong service behavior that is very much appreciated by the clients she serves. The MRs and DMMs who have experienced working with Xxx have found her to be reliable and thorough. During the review period, Xxx had some challenges with requests coming from Field Risk Consultants, asking her to provide service to their clients. Moving forward, we want Xxx to provide service to anyone who requests her to do the type of work we do. B. Develop and maintain knowledge of Federated’s risk management programs Although Xxx is considered a relatively new Risk Consultant, she has developed a fair amount of knowledge on the programs available from Federated for risk management. Fortunately, in those areas where she either lacks expertise or wants to confirm her responses to a risk management scenario, we have available resources, or the other consultants she can visit with to finalize her approach. The team effort displayed in her territory is very good and provides the necessary consulting and the appropriate responses. Xxx went through a modified training plan upon her return to work that brought her up to speed on changes and new programs. C. 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Innovation & Creative Strategy of Fletcher-Samples for Students

Question: Discuss about the Innovation and Creative working strategic perspective of Fletcher Building. Answer: Introduction This repot consist of various innovation and creative management technique which are used by organizations to achieve its set objective and goals with a view to satisfy their clients. Innovation and creation are the concept and frameworks for the organizational change from the strategic perspective. In this report, study has been prepared on innovation and creative working strategic perspective of Fletcher Building. This organization has been selected due to its wide range of innovative and creative in the business value chain activities. This company has been running its business on international and domestic level and distributor of world leading building constructors. Innovation could be defined as discovering of new ideas and methods which will keep user one step ahead from its earlier plan. Organizational innovation and changes are the most critical aspect which should be adopted by each and every organizations on consistent basis with a view to enhance business functioning. It is described as adoption of an idea or behavior that is new to the organization. Ideally, these changes emerged in the business organization due to the effectiveness of working behavior of employees and how far they make efforts to increase the productivity. However, Innovation and creativity and their contemporary application in value chain activities of organizations would make changes in its existing policies and frameworks by adopting new strategic plans. Contemporary concepts of innovation and organizational change Innovation and creation are the key aspect to make changes in the existing value chain activities and sustainability of organization. The main impact of innovation and organizational change would be seen on the basis of employees resistance and initial investment made by company. In addition to this, it is also further observed those employees and other process managers needs to adopt newly developed innovations and creative activities with a view to encounter existing problems and creating core competency in working channel of organizations. Ideally this innovation and creation are the consistent demanding activities if company wants to keep its business ahead of others in the market (Anderson, Poto?nik, Zhou, 2014). However, the main hurdles which arise with the organizational changes and innovation are related to the rigidness of employees with these changes. These innovation and strategic plans are adopted by the top management with a view to create core competency and keeping bu siness ahead from those of others in the market. However, the impact of innovation and organizational change could be observed by implementing Portals five factors analysis. This will surely help Key managerial person to evaluate buying behavior of buyers, suppliers strength, existing rivalry in the market and substitution of products offered in the market and threat of new entrants after implementation of innovation and organizational change. However, some time with the effectiveness of employee functioning, innovation and creation of working system is developed in companys own value chain activities. For instance, employees working in value chain activities would take less time to complete task as compared to the normal time involved in completion of set activities. However, these would only be made when innovation and creativity plan are properly implemented in organizations (Renko, et al. 015). Role of innovation and organizational changes assessed Ideally, Innovation and organizational changes are used in organizations to overcome the life cycle stage problems of company in market. This is evaluated that if company wants to run its business on sustainable basis then it needs to adopt new innovative strategies and creative ideas in its business process system. This will help organization to create core competency in its business functions and will increase its profitability throughout the time (Sealy, Doldor, Vinnicombe, 2016). Three forms of innovation and organizational changes There are three ascending tiers of creativity and innovation that can be pursued to make effective level of economic changes. These are product innovation, service innovation and process innovation Product innovation This is related to make improvement in existing products and value chain activities of organizations. If company make consistent innovation in its products and services then it will surely mitigate the life cycle stage growth problems. It will not only increase companys sell but also enhance the brand image of company. Service innovation This is related with modification and innovation in its existing services a view to offer customized products to clients. Company could do it by hiring new experts to discharge existing functions and services for the betterment of clients satisfaction. Process innovation In this process of innovation, company would make changes in its existing value chain activities by introducing new ERP system and new technologies to make betterment in its existing value chain activities. Two contemporary Innovation frameworks It is a global, scalable platform created to harness the creative talents of employees while establishment of nexus between corporate strategies and innovation technique (Anderson, Poto?nik, Zhou, 2014). Leading innovation frameworks L E A D Learn Experiment Adjust Distribute In organizational changes, it will be asked from employees various thoughts and ideas to make changes in its existing process with a view to increase productivity of organizations. Each and every employee must be indulged in using scientific method to identify, test and analysis the particular process system. Top management will identify the new finding of employee and will adjust innovation with their own insights, and implement beta test in determined approach. After developing new innovative strategies, Top management of organizations will go to the market and implement its innovative technique and innovation with a view to keep itself ahead of market. Innovation delivery frameworks Review of clients needs Existing services offered by Fletcher Building Gap analysis of process system New innovative strategies Execute strategy Changes in existing structure and value chain activities to make customized products and services. Top management would be more inclined towards providing best services through its enterprises resources planning strategies. Changes in existing system and proposed system. Adoption of new enterprises resources planning technique with a view to reduce the time involved in communication between employees Install an effective cloud based system which would help all the employees. (Hodge Ratten, 2015). Factors that foster innovation and creativity There are various factors which foster creativity and innovation are training and development of program, instructions and leadership skills implemented by leaders, chose of rights methods and means, acceptance of employees with newly adopted innovation strategies (Amabile and Pratt, 2016). In addition to this, if top management has implemented proper level of strategies then newly introduced innovative strategies could be executed in easy and determined approach (Sealy, Doldor, Vinnicombe, 2016). Innovation strategies This could be described as a plan to grow market share or profit through products and services. Innovative strategies could be described as an innovative ideas and developed process system. These strategies will keep the users one step ahead from the past knowledge and will result to make changes in existing innovative strategies and program. New Zealand innovation examples are using of enterprises resources planning by big companies and using high tech technology to accomplish set targets and goals. Ideally, there are three types of innovation strategies are developed such as sustaining innovation, efficiency innovation and market creating innovation. Sustaining innovation focus on reducing the risk involved in business. Efficiency innovation will increase the productivity and creative innovation would result to changes in existing organizational structure (Anderson, Poto?nik, Zhou, 2014). Importance of ethics This reflects how employees are indulged in analyzing existing values and ethics in their working system. Employees while delivering their services should be ethical and consistent with code of codes. Company being a separate entity created by law does not have concern about ethics and values. Employees, directors and other staff memebers are responsible in handling code of conduct, value and ethics while delivering innovative products and services to its clients (Hogan, Coote, 2014). Ethics provides the critical aspect for the proper implication of innovative and creative business. It is observed that if organization is developing creative and innovative business process then it will have to be knowledge and process which is one step ahead from the existing knowledge. Ethics showcase that while developing proper level of innovation in research and development department there should not be any damage to other persons or following of illegal matters for the betterment of organizatio ns and economic environment at large. The value and ethics of innovation and creativity will be to evaluate by using its internal and external factors in the market. Value and ethics should not be compromised with Innovation and creative business process of company. However, it is evaluated that if these values and ethics are followed in proper manner then it will hamper the sustainability of company in long run (McLaughlin, 2016). Therefore, it could be inferred that if company proper level of ethics in the bsuienss then it will increase increase the brand image of company and long run sustainability of the company in business industry. Resistance to change Change is inevitable if company wants to cope up with rivals strategies in market. However, employees feels demotivated whenever a company implements new process system and install new working software. For instance, G.E. Capital installed Cyber computing system in its process system in 2001 with a view to reduce the complexity and manual work. However, with the complexity of new system, many employees and workers left the office and increased the overall employee turnover. This level of impact on the business is considered as resistance to change. Nonetheless, company could overcome these problems by implementing proper training development program accompanied with reward system to motivate employees for new adopted system (Anderson, Poto?nik, Zhou, 2014). Impact on physical and mental behavior of employees from the implemented change It is observed that most of the employees in organization are rigid to the change. However, when changes in value chain activities is introduced by the organization then employee has to go through the tough working channel and has to adapt themselves with new system process. The changes in workplace and working conditions of organization may result to mental disorder, demotivation and negative working capacity. However, if proper level of training and development program is implemented then employees may adapt with the adopted changes in the value chain activities of organization. Explanation for link between innovation and change It is basic to evaluate that change is related to the innovative thinking and its implementation in the organization. It is required to implement proper level of strategies with a view to establish acceptable organizational culture. Key managerial person needs to understand organizational factors and rigidness of employees with the changes. Therefore, top management should identify all the internal and external factors of organization while executing innovation and creation in the business functioning. Therefore, it is observed that top management needs to establish proper nexus between organizational development and employees welfare (Pratt, 2008). Role of leadership Leaders are the person who makes all the strategic decision for the betterment of organization. It is considered that leaders have to evaluate what their followers wants from the organizations. For instance, it is required to understand the basic needs of employees and fulfill them if a leader wants to get the work done by its followers. However, execution of innovative technique and strategies in organizations brings several changes and renders employees in complex situation in their working due to the rigid working conditions. Therefore, it could be inferred that execution of innovative strategies and changes in organizational process system could be done in smooth manner only when employees are given proper level of guidance and training by their leaders. Leaders indulged in conducting new program and training sessions for its employees if new innovative strategies and plans are implemented in process system of organizations (Anderson, Poto?nik, Zhou, 2014). Different leadership styles There are several leadership styles such as autocratic, democratic and other leadership styles which should be followed by leaders. However, it is observed that each and every leadership strategies should be followed by leaders in its particular value chain activities while implementing new strategies (Renko, et al. 2015). Resistance to change is discussed The main impact of innovation and creation would be seen on the productivity and effectiveness of business functioning. It is evaluated that if employees are rigid to change then the true outcome of innovation and creativity would be negative. Kurt Lewins change Model In this model change concept in business process system is introduced which is accompanied by three important factors named unfreezing, changing and refreezing. This model helps top management to determine the actual needs and demand of innovation and change in the business. Therefore, as per the Kurt Lewins change Model if company wants to introduce new change in the existing process system and innovative ideas in its particular working system then it should come up with particular strategies and formulated plans in determined approach (Hogan, Coote, 2014). Conclusion This report has been prepared newly introduced innovative and creative plans. This report has shown how innovation could make effective changes in the existing business functioning of organizations. However, it is further observed that if company fails to plan proper level of management plans for implementing new innovative ideas and strategic plans then this would surely reduce the complexity in the implementing new innovative ideas. These innovative ideas and creative thinking will help organization to create core competency in its business. 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