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Fabindia is a for-profit Indian retail company with the stated mission of providing employment to weavers and traditional handicraft artisans in rural India. Established in 1960 as an exporter of home furnishings, Fabindia has grown as a consumer-facing retailer of apparel, home furnishings, organic food, and body care products, and has plans to expand further. Given their mission, their supply chain is fragmented, geographically scattered, and unpredictable. Can they overcome these challenges and still grow profitably while staying committed to their mission?
The theories of market segmentation and brand building in Chapter 3, What Products Will Customers Want to Buy? in The Innovator's Solution by Clayton Christensen and Michael Raynor suggest that when companies segment markets and build brands in ways that match how the customer sees the market--customers hire products to get jobs done--their success rate in innovation increases. Gallardo's is a privately held firm whose products--salsas, sauces, and seasonings for Latin American dishes--were sold primarily in the southwestern United States. When the company had saturated that geographical market, its CEO decided to invade Mexico. Describes how Gallardo's marketers learned what jobs Mexican housewives hired these products to do. Shows how the company used these market insights to segment the market along different lines than its competitors. Gallardo's products and advertisements ended up spurring significant growth in the market, but most of the growth was captured by its primary competitor. What went wrong? Were Gallardo's branding and segmentation strategies consistent with the jobs-to-be-done model? Does the company have the chance to relaunch its products more successfully?
Introduces students to some general tools of economics that will be useful in analyzing macroeconomic performance in a course on business, government, and the international economy. The four sections are: 1) the economy as a circular flow, 2) supply and demand, 3) aggregate supply and aggregate demand, and 4) an introduction to National Income accounting.
Describes the development of the first CT Scanner by EMI, a company new to the medical industry, and EMI's entry into the U.S. market. The company's early success is threatened by the entry of a dozen competitors (some very large and experienced), by government regulation, and by internal organizational problems.
Describes the development of a business model based on "software as a service" (SaaS) for security solution distributed through Internet Service Providers (ISPs). F-Secure disruptively entered a mature business with dominant players by executing an innovative new service model. The case describes the challenges involved in developing and executing the new service model, and offers students opportunities to discuss the evolving challenges the company faces looking forward.
Following an accounting problem at Molex, the firm's auditors request changes in management. The board of directors has to decide whether the auditors' concerns have merit or whether, as management argues, the accounting issue is immaterial.
In early 2014, business development executives at Google were formulating a distribution strategy for Glass, a wearable computer that projected information on a display viewable with an upward glance. Options, which were not mutually exclusive, included 1) continuing to sell Glass directly through online channels; 2) creating an open platform to allow any eyewear manufacturer to create frames compatible with Glass; and 3) negotiating a partnership with a leading eyewear manufacturer to jointly develop and market Glass.
Describes the legal odyssey of two engineers who left their old employer to start a company that was directly competitive. The issues include employment contracts, technology licenses, antitrust, trade secrets, and confidential information. Provides a good opportunity for students to explore the legal and ethical issues which surround the concept of intellectual property.
This chapter introduces the second of the four Cs of organization design-critical performance variables--and examines how accountability and resistance factor in to designing an organization that creates value.
In spite of all the emphasis on strategy at the board and senior executive level, there is little evidence that it really is a source of success. This chapter cautions against focusing too much on the presentation and formulation of strategy rather than the development of adaptive strategy through experimentation and learning from experience.
This chapter seeks to advance our understanding of leadership and to show that it has the potential to be a science as well as an art. The author demonstrates how effective leaders make decisions by solving the classic prisoner's dilemma-a concept borrowed from economics. The prisoner's dilemma, simply put, is the choice between turning state's evidence against your partner in crime, confessing, and getting a lighter punishment (while your partner gets the maximum punishment), or risking the possibility that your partner will confess first, thereby condemning you to the maximum punishment. The ability to recast the prisoner's dilemma from a one-shot game to an indefinitely repeated game provides a key insight into the leader's role. Enabling members of an organization to move from what the author calls an "inferior equilibrium" (the one-shot game) to a "superior equilibrium" (the indefinitely repeated game) requires the leader to focus on six essential tasks: vision, enrollment, commitment, integrity, communication, and authenticity. This chapter was originally published as Chapter 10 of "Handbook of Leadership Theory and Practice: A Harvard Business School Centennial Colloquium."
"The Adventures of an IT Leader" invites readers to "walk in the shoes of Jim Barton", the new CIO of the fictional IVK Corporation, as he spends a difficult year learning effective information technology leadership, sidestepping the pitfalls that make the CIO job the most volatile, high-turnover job in the business. In this chapter, Barton and his team realize that they must formulate a policy regulating the use of Web 2.0 technologies inside the company and devise a strategy for spotting emerging technologies early and analyzing the potential risks and benefits involved in their use. This chapter is excerpted from "The Adventures of an IT Leader."
When you accept a promotion from individual contributor to manager you are making a profound career choice. Becoming a manager not only comes with changes to your job responsibilities; when you accept a managerial role, you are making a commitment to form a new professional and personal identity, oriented toward managing people rather than tasks. Inevitably, big questions emerge: "Will I like management?" "Will I be a good manager?" And after some time in your new role: "Who am I becoming, not only as a manager, but as a person?" Author Linda A. Hill followed nineteen new managers through their first year, gathering data about the managerial transition. This chapter follows these new managers as they chart a path to self-discovery from their initial motivation for becoming managers to the evolution of a new professional identity and managerial character. This chapter was originally published as Chapter 6 of "Becoming a Manager: How New Managers Master the Challenges of Leadership."
An abstract is not available for this product.
The theory of competitive advantage is one of the most widely accepted economic principles among economists. The theory, as well as substantial historical evidence, suggest that free trade raises national income, while government intervention in trade relations generally lowers a nation's wealth. In the last few years, however, new theories have led some commentators to question this conclusion. Based on research into imperfectly competitive industries, some of the new theoretical research suggests that it is possible to increase national wealth with specific types of government intervention in trade relations. The research is referred to as the New International Economics, or Strategic Trade theory. While interesting, these trade theories are often misunderstood and used inappropriately. This note introduces four strategic theories of trade. Also discusses several critiques of these theories. A rewritten version of an earlier note.
Provides a framework for understanding the role of financial reporting and various intermediaries as mechanisms for reducing both adverse selection and moral hazard problems in capital markets. Financial reports reduce adverse selection by providing basic information for investors and their agents before they make initial capital resource allocation decisions. Subsequently, after capital is allocated to particular business ventures, financial reports reduce moral hazard between managers and investors by supplying information used in contracting between investors and managers to reduce conflicts of interests. Various institutional mechanisms and information intermediaries monitor and limit the manipulation of reported information by managers and constrain managers' ability to act in their own self-interest, rather than investors' interests. They also improve information production, reduce incentive conflicts, and enable capital markets to function effectively and efficiently, channeling the economy's savings to the most productive opportunities.
A shared sense of urgency for change my push people into action, but it is the vision that steers them in the right direction. A good vision offers a compelling, motivating picture of the future and serves several important purposes. This chapter lays out the four key phases of developing a compelling vision, providing diagnostic tools and assessments to help you along the way.
By 2013, Google, while not a traditional manufacturer of automobiles, had invested millions of dollars in its self-driving cars which had logged over 500,000 miles of testing. The Google management team faced several questions. Should Google continue to invest in the technology behind self-driving cars? How could Google's core software-based and search business benefit from self-driving car technology? As large auto manufacturers began to invest in automotive technology themselves, could Google compete? Was this investment of time and resources worth it for Google?
Are you ready to start unlocking your potential? Are you interested in seeing what happens when once-countervailing energies are made available for productive purposes? The answer to these questions is most likely "yes," but what is the next step? In this chapter, the authors help you map out your own immunity to change and get to the root of what is preventing the progress you desire. This chapter is excerpted from "Immunity to Change: How to Overcome It and Unlock the Potential In Yourself and Your Organization."
The management of a small manufacturer of circuit boards faces a number of production and operations management problems. The first day on this case is used to analyze the production capacity of various stages in the process and to examine bottlenecks and key production flow decisions. The emphasis is on physical flows. The second day the emphasis is on information flows. We look in detail at the problems faced by the company, discuss the tools and techniques of process analysis that can be used to determine the relative importance of those problems, identify solutions, and discuss implementation issues.
How nations trade and whether they benefit from it are two of the oldest and most important questions in political economy. In the 170 years since David Ricardo formally developed the theory of comparative advantage, it has become one of the principles most widely accepted among professional economists. Despite this wide acceptance in the professional community, the basics of international trade are still poorly understood by many policy makers and casual commentators. This note introduces the theory of comparative advantage. It is divided into four sections. The first presents a short history of the concepts behind comparative advantage. The second develops a simple model with several examples to demonstrate the gains that result from trade between nations. The third briefly covers several extensions of the simple model. Finally, two traditional objections to free trade are reviewed. A rewritten version of an earlier note.
Eyeblaster management has to decide on the best course of action to sustain its momentum from enabling online rich media advertising. Pressure from competitors is forcing the company to re-evaluate its previous marketing strategy that focused primarily on getting advertising agencies to advocate use of Eyeblaster's rich media ad management product. Alternatively, more Eyeblaster sales effort, product improvements, and pricing incentives could be diverted to Web site publishers or even to advertisers. CEO Gal Trifon has to decide whether to give the green light to entering two new markets. Such a move would require the company to position itself somewhat differently in the marketplace and offer different pricing schemes. Includes color exhibits.
Credibility is the key to CMO success at breaking down silo barriers and fostering cooperation and synergy. Without mutual respect, without an atmosphere where silos include or seek out the CMO's team, progress on cross-silo issues will be slow. This chapter introduces five routes to gaining credibility and buy-in for initiatives.
This chapter starts with how to establish the right sequencing of the negotiation-the right order of approach to the parties, and the most productive staging of the negotiation-and moves to how to make the right basic process choices-the right "rules of engagement" and expectations within which each party will negotiate.
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