MANAGING INNOVATION AND ENTREPRENEURSHIP (Take home exam) Essay

MANAGING INNOVATION AND ENTREPRENEURSHIP (Take home exam) - Essay Example If these are not that effective, then entrepreneurs must have stopped using them for years. According to Porter’s five forces model, there are potential entrants that are able to play as relevant industry competitors. These new entrants are also capable of forming innovation and even imitation. China for instance is known for its low-cost products that at some point similar to existing offerings, which makes imitation not that impossible to take place. Thus, it would make sense that in order to prevent others from imitating a product; barriers to potential entrants should be made. According to Porter, barriers to entry includes economies of scale, product differentiation, capital requirements, switching costs, access to distribution channels, cost disadvantages independent of scale and government policy. We have been immersed mostly in the concepts of economies of scale and product differentiation so I would like to focus on these two as important barriers to innovation, as based on Porter’s five forces model. The economies of scale would force the entrant to face two undesirable options: come in at large scale and risk strong reaction from existing firms; choose small scale and accept cost disadvantage. In either of these choices, a new entrant needs to take the risk of losing his chance to successfully penetrate into the market. The other potential barrier to new entrant is product differentiation. Firms that already have brand identification and customer loyalties are hard to beat. Therefore, firms should therefore increase advertising, customer service, product differences and be the first into the industry in order to prevent potential entrants. Product differentiation therefore could at some point be highly associated with economies of learning, production techniques, production design and more, just to be able to create one-of-a-kind product that could bring competitive advantage and

Germany and US Stakeholders Essay Example | Topics and Well Written Essays - 1250 words

Germany and US Stakeholders - Essay Example Through this collaboration, they would be able to achieve two-fold objectives. Firstly, the employees and board representatives would be able to safeguard own interests and pursue their objectives. Secondly, when their objectives are achieved, the larger organizational aims is fulfilled as well (Petrick, 2010). In the stakeholder capitalism model, an employee representative is given a seat on the board of directors. The major responsibility of the employee representative is to communicate to each and every stakeholder about concerns of the employees. The presence of employee representatives within the board also enables the top-level management to establish a robust corporate governance framework for facilitating smooth operation of the organization. By working in collaboration with each other, the employee representative and the management representative can make sure that workflow within the organization is smooth. In addition, they are able to secure achievement of operational efficiency (Fauver&Fuerst, 2006). Achieving operational excellence is one of the most important objectives that organizations aim to attain. Operational efficiency can be facilitated only if the top-level management possesses very good knowledge about the workforce available to the firm. Such knowledge would allow the managers to allocate resources effectively according to the skills and experience of the workforce as well as the operational objective. By allocating resources effectively, managers are able to achieve operational efficiency and therefore maximize value for the shareholders. However, only satisfying the needs of the shareholders do not guarantee a company’s success. The management also has to be concerned about employee needs. They need to identify and understand interests of the employees, as they are perhaps one of the most important stakeholders (Faccio, Lang,& Young, 2001). In order to meet the employee needs,

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The Gettysburg Address In 1863, President Abraham Lincoln was asked to say a few words at the opening of a military cemetery in Gettysburg, Pennsylvania. Gettysburg stood as one of the bloodiest battles in America’s Civil War and the Governor felt that these fallen soldiers needed a better resting place. Lincoln had a problem with the people in his country that happened to be in war fighting against each other for the freedom of blacks, which they currently did not have. When Lincoln came to give his speech he had many people on the edge of their seats listening to him word for word. He takes his time in what he says and chooses his words precisely. Some may not apprehend what Lincoln was actually saying whether they were soldiers or people who were mourning the loss of their family members. He wanted to let the families and armed forces know that he's proud of what they have done; although, he may also be marginally disenchanted since his country is fighting against one another. He reveres the se people no matter what side they are on and hopes for the freedom of slaves whil...

Compensation and Security for Employees

Discussed in this paper will be how employees are categorized and at what level they are categorized at. What the goals and expectations for each level are and how they can be reached. How compensation is dispersed and awarded and how the compensation is given. This paper will also discuss what kind of compensation is given, whether the compensation is monetary or in another form. This paper will also discuss what the incentives will be for reporting abuse of other employees or violation of company policies and procedures. The steps that the company will take to keep all incentives for the different categories and employees fair and equal. What kind of payouts for the different performances in each category. The paper will also include a section on why the compensation is awarded and how they will reward the employee or group (Snell, 2010). How to set the program to handout the incentive and when they will be awarded and how. It will also discuss whether the incentive is given yearly or if it is given quarterly. Also in the paper it will discuss how to motivate employees and how to keep employees motivated. Read this  Chapter 2 – Why Security is Needed Also being discussed will be putting in a compensation plan to attract new employees. Knowing how to manage unfairness and employees who think it is unfair to offer an incentive for a particular performance or for an organization. Putting the steps in categories will also help out the unfairness. Also being discussed is how the compensation will be presented. What steps will be taken to ensure that all employees are eligible for the compensation program. Giving the steps out so the employee knows what is to be expected. Compensation and Security for Employees Some companies have different levels of employees; some include entry level employees to executives. Categorizing employees is a little difficult, especially if there is a lot of turn over. Some employees that have been in the company for more than a year may still be in an entry level position, but deserve to be at a junior level position. The main purpose for this program is to ensure a low employee turnover. These employees should be compensated not for their position but how they perform in that position (Snell, 2010). Other companies may give a bonus or compensation for getting hired into the company. Bonuses are given mainly in monetary fashion; they are given also if the employee is at the company for six months or more. Categorizing employees is a big job, but also can save on money. Categorizing employees from entry level to CEO is difficult especially if there are several levels. The first step is to categorize employees is to know how many employees are in each level. Also included in the first step is a description of what each employee level is. How many employees there are in each level and how they get the incentive in the level. Level 1: entry level- fifty employees, these employees are the ones that have recently been hired, or have been with the company for six months to a year. Frequent turnover accrues with in the first two months of hire (Snell, 2010). That is why an incentive is give after the six month in the position. Level 2: junior level- thirty employees, these are the employees that have been with the company for a year or more a monetary incentive is usually given after the employee has given their commitment to the company for a year and a half. Level 3: lead level- twenty employees, these employees are the leads in their units or departments, they have been promoted from the junior level and have worked for the company for more the 2 years. The first incentive is the promotions; they also get an incentive for job performances in the first six months after becoming a lead. Level 4: supervisor level- fifteen employees, these employees have also been leads that have been promoted (Ederhof, 2011). Supervisors have worked for the company for four years or more. The incentive for this level is after a year of being a supervisor. The supervisory level compensation will be based on job performance, and the supervisors past performances. Level 5: manager level- forty employees, these employees are either hired for the manager level or they have been promoted from the supervisor level. These employees are committed to the company. Their incentive is for job performance, going above and beyond the call of their position. Level 6: Coordinator’s level-seventeen employees, these employees are listed as high as executives. These coordinators are budget coordinators, financial coordinators, company event coordinators. These employees are hired outside the company; they are hired for their skills of coordinating several departments. These employees know how to work through stress and deadlines. This level compensation is based solely on performance; there is still the six month compensation after hire. Compensation shows how they work through the stress and deadlines (Ederhof, 2011). Level 7: director’s level-ten employees, these employees are also hired outside the company; they have the skills and experience to do their job. These employees are responsible for several departments and the employees that work in those departments. The directors are higher than the managers. This is where deciding how the compensation will work for the remaining levels will get a little more difficult. They also are goal oriented and will make goals for the departments they run (Reh, 2013). Level 8: Administration Assistant’s level: five employees, these employees are usually hired outside due to unfairness of the other employees. The employees have four to five years’ experience in the field. Administrative assistants work directly with the CO’s and presidents. Their work is monitored above any employee in the company. Their stakes are higher when it comes to incentives and compensations. This is not an entry level position. Level 9: CO’s level- twelve employees, these employees have specific areas of experience. Some of the CO’s that would be in the company are: Chief executive officer (CEO) chief accounts officer (CAO), chief information officer (CIO), chief financial officer (CFO) to name a few. There is about eight to ten years’ experience in their field. Their goal is to keep things in their department running smoothly. Level 10: presidents level five employees; this level is the most difficult level to do incentives and compensations. They are the highest and most experienced in their areas. This level of employment makes all final decisions in the company. They work closely with directors in each department; knowing what is going on throughout the company is another objective that this level is kin on. Setting goals and expectations for the different levels is not as easy as it seems. The upper levels will have more difficult goals and expectations to achieve than the lower levels. This is the second step in the incentives and compensations plan. Anything that needs to be discussed about each level should be discussed with each level in a conference or a meeting (Super Jobs for You, 2009). Get the employees involved in their goals and expectations. Setting goals and expectations are very important, it keeps employees motivated and looking forward. Level 1: goals setting and expectations for the entry level positions. Sitting down with the level 1 employees the company found out that some of the goals are pretty similar. Having the employees set goals for themselves will help the employees achieve realistic goals and set short and long term goals (Goals and Expectations, 2011). Goals for entry level employees would include: to move up in the company, to have projects done on or before the deadline, being able to type 50 words per minute every day for a month. Bring job performance up to five percent in two weeks. Another goal would be win over customers that have not been in for a while. Achieving this goal would be for each level one employee. The goal would be to get back 3 customers within sixty days. Some personal goals for employees at level one is: being able to speak up in meetings, get along with co-workers better, to talk to their superiors a lot better without being terrified of being rejected. Level 2 employees have the same goals as the level one employee with some differences. Some goals that level two employees have set for themselves are as follows: wanting to move up in the company, get sales up to ten percent before the next quarter. The incentive for reaching the customer goal would be a hundred dollars and free lunch on the company for 3 employees of level one and three employees for level two. Some of the incentives for the level one employee, once they have achieved their goal, would be a promotion with a pay raise. For finishing a project before the deadline would be a fifty dollar bonus on their next check. Level two employees would be the same, a promotion and a pay raise. Once they achieve their goal of getting sales up the company will give incentive for the first three employees who reach the goal. The incentive will be a week vacation with pay. For level 3 employees the goal setting is a bit more complicated. Some goals could be: having their department reaches a team goal within thirty days. A team goal could be to increase communication through the entire department. Also getting employee feedback from the departments to reach the specific goal (Goals and Expectations, 2011). Giving out monthly progress reports to level one and two employees, telling the employees how they are doing and where they are to achieve their own personal and professional goals. Once the communication goal is reached by one department the entire department will get fifty dollars on their next paycheck and will get a free lunch to a great restaurant on the company. For the level three employees the incentives for reaching goals and expectations would be a week’s paid vacation from the company for achieving the progress report goal for the first 4 employees. This goal is also available to the level four employees also. For level 4 employees they will also make up goals for themselves as well. Some of the goals would be figuring out how to relieve the stress from their employees to increase productivity and performance. How to keep employees from going home early or calling in sick from work on Fridays. Some suggestions would be giving the employees free massage on their breaks, giving a longer lunch hour on Fridays. Setting and posting team goals that are simple and are seen everywhere. Level 5 employees personal goals could be to get out on the floor to help out lower level employees about sixty percent of the day for the next sixty days. The department goal could be to develop a plan to keep more employees from quitting and to lower turnover by fifty percent. Whichever level achieves this goal will get a twenty-five percent raise. The levels that will be competing will be levels four, five and seven. Levels 6 employees will have goals and expectations to fulfill. Some goals and expectations could be to stay up-to-date on advertising until the end of the year. Plan a company event three times a year. The big goal is to talk to customers about what they want out of the company, or what they want to see the company change and make it happen within six months. Achieving this goal would get the coordinator responsible a thirty percent raise and 2 weeks paid vacation. For the entire company goals would be an award of their choosing for working in the company for five, ten, fifteen and twenty and so on years. The awards would be for five years a plaque that says for five years of service in the company and would have the employees name on it. The ten year anniversary would be an award of their choosing, like a stereo or two hundred dollars cash. Every year would have an award that is a little more expensive and elaborate. For reporting violations and abuse to co-workers the incentive would be the same hundred dollars for reporting sexual harassment, reporting a violation of the code of conduct would award the employee with a free membership to the gym of their choice or ten free massages for two. For referring new employees the employee would get fifty after the new employee was hired and hundred after the new employee was at the company for six months. Steps that the human resource management will take to ensure that all compensation and incentives are fair and equal to all levels. Step one is to figure out different higher goals for each employee at each level. Keep goals short-term. Let all employees at the lower level know they have the potential to achieve all goals and expectations. Also let them know they lso have the ability to be promoted wit in the company. Also letting all employees know that they are valued in the company. Giving out â€Å"treats† to all employees at the end of a really long work day or work week. Company parties, picnics or celebrations, to let the employees know they are valued in the company. Celebrating the employees birthdays, to let them know that the company remembers them and that they are special. Conclusion In conclusion the paper discussed compensation and incentive for employees at all levels in the company. These employees should be compensated not for their position but how they perform in that position (Snell, 2010). Other companies may give a bonus or compensation for getting hired into the company. Bonuses are given mainly in monetary fashion; they are given also if the employee is at the company for six months or more. The steps that the company will take to keep all incentives for all the different categories and employees fair and equal. What kind of payouts for the different performances in each category. The paper will also include a section on why the compensation is awarded and how they will reward the employee or group (Snell, 2010). How to set the program to handout the incentive and when they will be awarded and how. Categorizing employees is a big job, but also can save on money. Categorizing employees from entry level to CEO is difficult especially if there are several levels. The first step is to categorize employees is to know how many employees are in each level. Also included in the first step is a description of what each employee level is. How many employees there are in each level and how they get the incentive throughout the time they spend in that level. For the entire company goals would be an award of their choosing for working in the company for five, ten, fifteen and twenty and so on years. The awards would be for five years a plaque that says for five years of service in the company and would have the employees name on it. The ten year anniversary would be an award of their choosing, like a stereo or two hundred dollars cash. Every year would have an award that is a little more expensive and elaborate.

Racism Still Alive Today - 1514 Words

Racism: Still Alive Today If one were to drive down any random road in South Carolina today, they might spot a Confederate Flag hanging proudly from a building or a house or even a national monument. The ones who support the display of this flag say that it is more to do with cultural history than racism, however, the history that this flag represents is what motivated Dylann Roof to kill nine innocent people in a South Carolina church in 2015. In this day and age, how did something like the Charleston church shooting massacre occur? This essay will explain how racism, although not as common as it was in the past, still exists today and how this racism is connected to the story of Dylann Roof. Although certain racist laws, such as Jim†¦show more content†¦James Ballinger, Roof had mental illnesses such as Schizoid Personality disorder, social anxiety disorder, Mixed Substance Abuse disorder, and depression. Roof did not know how to interact with people in person so he  "developed violent racist ideologies simply by reading white supremacist websites rather than through real-life interactions†(Post and Courier). Since he did not address his problems, he dealt with his mental illnesses by using white supremacy as a solution. He became infatuated with the thought that African Americans were inferior to whites and he wanted to start a race war with them. He found racist communities online and felt a sense of belonging with people of his skin color. To deal with his own mental illness, he developed a warped sociological imagination that if whites and blacks were pinned against one another, all of the world’s problems would be solved. The Defense council for Dylann Roof stated that Roof was so lonely and depressed that he once â€Å"posted a Craigslist Ad for someone to accompany him to take a historical tour around Charleston†(Post and Courier). A child psychologist testified that he saw the ad and, when he had messaged Roof to get help Roof replied saying â€Å"I am in bed, so depressed I cannot get out of bed. My life is wasted. I have no friends even though I am cool. I am going back to sleep(Post and Courier). However, in court Roof did not let his lawyers defend him because he did not want his lawyers toShow MoreRelatedRacism Is Still Alive Today1238 Words   |  5 Pages2015 Racism in Oklahoma Everyone is different. No matter what you look like, where you came from, or how you grew up. Race does not define a person. Racism issues have appeared throughout many different generations. In Oklahoma, there are factors of events proving that racism is still alive today. Racism is any negative thought or action toward members of a racial minority or any manifestation of racial inequality. 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Although, police brutality has always been a hot topic in the media and politics, today it affects the rising generations directly. The workforce has also always penalized minorities in job opportunities, salaries, as well as putting limits on the options for professionalRead MoreWe Must Stop Racism Essay1214 Words   |  5 Pagesbackground, with unique history and life experiences. Today we have broken-down a lot of racial barriers that existed in the past, and we have learn become more accepting of each other culture and way of life. Even though our society is growing up and becoming more tolerant of each other, they are still many barriers that needs to be broken. Racism still exists today, it is something that we cannot get rid of easily. Some people express racism in var ious degrees. Around the world they are many cases

The Cold War And The Soviet Union - 1039 Words

The Cold War lasted from 1947 to 1991. The Cold War was the wars of multiple threats and possible inflation of earth but ended with invasions and hostility from nations across the world. The Soviet Union and the United States and worked together to defeat their enemies in World War two, which ended with the nuclear bombings of Hiroshima and Nagasaki. The atomic bombing had left the hundreds of thousands dead as well as a new fear of the United States power. Since the United States and the Soviet Union had worked together both now contained the atom bomb blue prints, creating hostility between the two great nations. Thus, the deadly â€Å" arms race† had begun. No only was there fear of nuclear warfare but also fear of the development of†¦show more content†¦The United States fear of loosing their economic and political global power used nationalistic propaganda in order to place fear of the communist threat into the people. From this came several invasions, into North Vietnam, North Korea and Cuba. Also it changed American foreign policy and the sphere of political practice in the United States. One of the biggest foreign policy and organizations created was NATO (North Atlantic Treaty Organization). NATO was set in place to combat and contain the communist threat. The goal behind NATO was a collective defensive measure that consisted of 28 members in 1949. In essence the group promised to work together and put their military forces together if the enemy decided to attack. The power of NATOs strategies where not seen until the Korean War. Also, in retaliation to NATO , the communist formed the Warsaw Pact. The Warsaw Pact was in essence the same as NATO but instead consisted of communist powers such as the USSR. NATO brought the part of the world together under one name as well as opened the door to other foreign policies and ways of management such as containment. Containment was the military practice of used by the United States in order to respect opposing nations/ states. This policy was set in place in ensure communism stayed abroad and did not spread to any further nations or America. Containment was proposed by George Kennan, in hopes of preventing world war three by usually the

The Evolution of Religion - 1318 Words

INTRODUCTION In The Wizard of Oz (1939), Dorothy and her friends journey to the Emerald City in seek of Oz – the great and powerful wizard. Upon finally reaching him, Dorothy’s dog opens a curtain to reveal that the Wizard is merely an ordinary man speaking into a microphone while using various knobs and levers to create a smoke-and-mirrors effect. In many ways this story is similar to the creation and interpretation of religion by individuals within society. In the following pages I will discuss this metaphor, as well as Rudolf Otto and his theories on the creation of religion, Peter L. Berger’s theory of â€Å"the sacred canopy,† and finally the intermingling of these two theories in the evolution of religion. RUDOLF OTTO AND RELIGIOUS†¦show more content†¦This is the first of the three main aspects of Berger’s â€Å"Sacred Canopy.† â€Å"Externalization,† Berger says, â€Å"is the ongoing outpouring of human being into the world, both in the physical and the mental activity of men,† (4). Every time an individual externalizes himself upon the environment, it changes, thus creating a new set of choices to be made. This imposition of our decisions then leads to objectivation – the second aspect of the sacred canopy. According to Berger, â€Å"the humanly produced world becomes something ‘out there.’ It consists of objects, both material and non-material that are capable of resisting the desires of their producer. Once produced, this world cannot simply be wished away,† (9). In other words, objectivation occurs when the products of what we create impose themselves back upon us and take on a life of their own. Gender roles, for example, are objectivations and are different in varying societies. Berger explains that â€Å"society assigns to the individual not only a set of roles but a designated identity. In other words, the individual is not only expected to perform as husband, father or uncle, but to be a husband, a father, or an uncle† (14). The final aspect of Berger’s sacred canopy is internalization. Internalization is the acceptance of these objecti ve realities that society imposes upon us. In this step, our objectivations become part of who we are. This can be seen in variousShow MoreRelatedEssay on The Evolution of Religion880 Words   |  4 PagesThe Evolution of Religion Near the end of his novel, Darwins Dangerous Idea, Daniel Dennett questions religion and contends that it was an evolutionary process to keep humans entertained. He says they [religions] have kept Homo Sapiens civilized enough, for long enough, for us to have learned how to reflect more systematically and accurately on our position of the universe(519). 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His theory claimed that all life currently in place had evolved and adapted from a single organism in the beginning. Over time and by process of natural selection only the dominant species were leftRead MoreEssay about Religion Evolution2362 Words   |  10 Pages(about -270à ¸ C/-454à ¸ F). This relic radiation was detected by radio astronomy in 1965, thereby providing what most astronomers consider to be confirmation of the big bang theory.3 In this statement we have our first of arguments over creationism by evolution. We have the beginnings of a proof that there was a time or rather, I should say, a point in time where there was indeed nothing.Many creationists will argue that the universe is too ordered; the path of the planets (which meant wanderers, or greatRead MoreEvolution Of Religion Studies, Theories, And Criticisms By Tom Sjoblom1284 Words   |  6 PagesInitially, when examining the article, The Evolution of Religion Studies, Theories, Critiques by Tom Sjà ¶blom the author attempts to identify what various actions taken by prehistoric humans mean. Sjà ¶blom begins by explaining that humans are storytelling species and that this storytelling was extremely important to our cognitive evolution as well as the creation of symbolic and cultural behavior. This storytelling ability and cultural behavior he believes arises from, â€Å"a narrative mind which emerged