What Lessons we acquire in Business School?
Each person has different perception throughout their journey to leadership. Students willing to pursue their career in business usually admire authority and title message. People are the pillar of business. Decisions which are taken by the people have the consequences which can impact others positively or negatively. Here, we are going to discuss these above stated few lessons using live examples. Why USA Today embraced modern media?
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Each business has its ups and downs. Same happened with the USA Today. In the late 1990s, they were under one of the successful business. However, their success faced the clouds of uncertainty. Their popularity flaked among youth readers. Management of the USA Today decided to revamp their scope of work and broaden their horizon to cater the needs of every section of the readers. In order to achieve this goal, drastic measures were required. Modern day media should be incorporated in its existing system and its capabilities. Thus, the revamping led to the online introduction of USA Today known as USAToday.com. Management gave the full authority to Lorraine Cichowski, General Manager of USA Today for the operation of online news service. She channelized people from print business, outside USA Today and setting them up separately from the newspaper business. She all together built different organization with its own key research areas and incentives. Parameters for incentives were dependable on time in which delivery is done, team work along with collaboration. Explosion of the use of Internet somewhat paved the path of success for this new venture. But the results were disheartening. Profits were made but in small amount as the growth curve was slow. After many speculations, Management decided under the supervision of USA Today President Tom Curley around 1999, decided to integrate the strategy of network by broadcasting the news using three platforms” Print media i.e., newspaper, Online medium i.e., USAToday.com and lastly, Local television stations (Gannett’s 21). Thus, dream of Curley to be in the news information space became reality. He stated that the deliverables should be in high numbers regardless of the broadcasting medium. What Milestones Cisco crossed to become a Giant-tech?
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Cisco is an American based Multinational technology based company. They deal in development, manufacturing and selling hardware for networking, equipments for telecommunication and other products related to high-tech services. It started with 6500 Ethernet switches and paved its path to success and be called as Networking Giant.CEO of Cisco Chuck Robbins is the current decision maker to turn the tables in last two years regardless of its slow treading in water for the larger part of a decade. Among many head turning decision, the larger part in the current success came from exploring the Wall Street. Two years back, no one has heard of Cisco in Wall Street. It was believed that Cisco like other companies will go away instead of changing their models of business. Currently, turnaround of fortune of Cisco was exceptionally fast. The key to the success which turned the table were the right decisions. Robbin focussed on the needs of people instead of the company’s. Taking as many vendors under its arm as possible for the better growth curve is fastest way to succeed. In last two years, 16 companies were bought. Cisco even embraced the new technology of cloud as it enhances the bandwidth for the upgradation of networks. Involving Artificial intelligence is the step taken to make certain of futuristic profits, as in the near future, those vendors will only be successful who has data in its best qualitative format along with the construable Artificial intelligence algorithms. How Microsoft managed to challenge Google in its own game?
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Microsoft has entered into the partnership with yahoo for the search business. As per the perspective of a analyst, microsoft’s offensive step will make the battle worse. Until now, it was google who was interfering with the core business of microsoft by business of search. Since, Microsoft is the common name in household due to its success in operating systems, internet explorer, web browsers and MS Office softwares; they were expected to thrive in the search market as well. However, search market proved to be tougher nut to be cracked. Microsoft challenged google, who is the king of online by introducing Bing, a new search engine. After its launch, many switch overs were done by common people from google to bing. Thus, affecting the business of the former. However, the battle is still ongoing with the more advanced developments and upgradations. Does Change of Name of Apple affect its business?
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Steve Jobs at a Macworld Expo in 2007, announced the name change of Apple. They were going to let go of “computers” from Apple Computers Incorporated to Apple Inc. Prior to the name change, Apple was in the market with the products other than computers. To avoid further confusion, company changed its name. As the moment the organization expanded its horizon other than computers, the earlier name did not make any sense in the business market. Thus, this change proved to be a strategic one to offer consumers more reliable products under the same trademark. Name change of the organization does not affect its business instead it helped in accomplishing the following points as mentioned: Long term strategy of the company to be in the market with varied products. It also helps the consumer in comparison with the other electronic organization to make the better judgement. How decisions related to ethics varies in abroad?
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\Before knowing the ethics in abroad, we should know that there is separate branch of practices and policies related to business which comes under Business ethics. Business ethics deals in the trustworthy relationship between customers and companies. Organizations vision and values are very important to succeed but other than that ethical and legal issues in the international business should be kept in mind. Proper channel of legal and ethical medium should be established to tackle the problems to the ground to make the expansion a successful venture. An ethical confusion related to its foreign turf is normal. Two approaches can be done based on the situation: by practicing the policies which are developed at the native of the entrepreneur or embracing the norms and regulations of the foreign land to conduct business. Some of the important ethical issues which is faced when the business is expanding internationally are as follows: diversity of workplace, working standards, equality, child labour, integrity, human rights, healthy environment, corruption and political span. When in the foreign turf, then there federal and state regulations related to safety, laws of environment, Civil rights and monetary and fiscal statues reporting are to be considered. Cultural beliefs and there considerations also affects the making of a company. Every nation has its own culture and history and its beliefs. Thus abiding by those beliefs is necessary to maintain the code of ethics. Gender can be the issue in few places where equal rights are not divided to both the sexes. National holidays and cultural activities may prove business to be tough in few days but this is all part of the nation and the consumer which the entrepreneurs are targeting. Acting accordingly with cultural background of the country plays a critical role in growth of the company in a particular market.
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