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A Team Effort: Real World Strategies for Justifying Vertical Integration, Considering Joint Ventures, and Understanding Organizational Dynamicsby Jay Barney Patricia Gorman Clifford
"What I Didn't Learn in Business School" is a fictional account that follows new consultant Justin Campbell as he joins an elite team hired by a chemical firm to assess the potential of a newly developed technology. At the opening of this chapter, Justin realizes that the work he has been doing alone on the new project overlaps significantly with the work that his colleagues have done. While attempting to crack the strategy case on his own, he has failed to leverage the value of his team. Through Justin's struggles, authors Jay Barney and Trish Gorman Clifford underscore the virtues of teamwork as Justin and his colleagues explore the potential of vertical integration and joint ventures as strategic options for their client. This chapter was originally published as Chapter 9 of "What I Didn't Learn in Business School: How Strategy Works in the Real World."
The guiding principle of democracy is that the purpose of government is to serve its citizens. To a citizenry inundated with news of wrongdoing and scandals, the notion that the public comes first may seem at odds with reality. Since failure to serve citizens weakens the social bonds that make democracy viable, a democratic government stands to learn much from marketing about better communicating the positive contributions it makes to citizens' lives.
The word "team" implies unity of purpose, collaboration, and. to some, a measure of equity. Working as a team offers some advantages, including a unified effort to achieve common goals and a new way for individuals to interact with one another. This chapter examines these advantages, and some disadvantages as well, and provides tools for determining whether a team effort is appropriate.
Addresses the common mistakes made in new product development and launch. Many times customers' and suppliers' perceptions of the degree of product/market innovation do not match. One of them may view the innovations as a "breakthrough," but the other may view it only as an incremental improvement of an existing solution. Such a mismatch will inevitably lead to faculty commercialization. But even if the match is perfect, this note argues that breakthroughs and incremental new products require quite different new product development processes to enable commercial success.
Examines the competitive challenges facing Robert Mondavi as the wine industry begins to consolidate globally. Mondavi faces challenges from foreign competitors entering the U.S. market as well as diversified global alcoholic beverage companies entering the wine business.
Thoughts on choosing teaching methods and the advantages of the case method for achieving the objectives of a survey course in accounting. Criteria for selecting or preparing good cases, developing a course outline, and for evaluating student and teacher performance.
Presents the problem facing a newly appointed high school principal. Raises issues about interpersonal and group behavior including lack of open conflict resolution and the need to intervene in an interpersonal conflict. Also raises the issue of intergroup conflict between headmasters and department chairmen, as well as value questions concerning the need for discipline and innovation. Discusses several structural questions concerning the existing "house system" organization.
Teach For China was founded in 2008 with the mission of expanding educational opportunity across China. By 2013, Andrea Pasinetti's lofty dream had taken flight: over 300 graduates from top American and Chinese universities were participating in its 2-year teaching fellowships in more than 87 rural Chinese schools. The organization had grown from a founding team of three in a shoebox office to an 80-person operation headquartered in Beijing with teams in six other locations across China. Teach For China adapted the model pioneered by Teach For America to meet the needs of the educationally under-resourced of rural China. Led by an American, could Teach For China reshape its international identity and become an enduring Chinese institution? Could Teach For China manage regulatory risks and challenge public and government skepticism of the still-nascent and highly volatile nonprofit sector? Would Teach For China be able to sustainably scale its model to truly end educational inequality in China?
Companies have excelled by treating customers as "markets of one," offering them personalized buying experiences. But in managing their own workers, most firms still use one-size-fits-all HR practices. A better approach, according to talent management experts Susan Cantrell and David Smith, is to treat each employee as a "workforce of one." What exactly does that mean? In this chapter, Cantrell and Smith explain the concept and, using electronics retail giant Best Buy as an example, show how creating a customized experience for your employees not only unleashes their full potential but also enables your organization to outperform the competition and gain real, sustainable advantage in the marketplace. The authors trace the evolution of human resources management, examine traditional HR practices, and describe six trends that are driving the workforce-of-onemovement. The chapter concludes with a summary of the four distinct paths your organization can take to customizing its people practices-segment the workforce, offer modular choices, define broad and simple rules, and foster employee-defined personalization-and provides a diagnostic tool to help you determine how your company can benefit from this game-changing approach to talent management. This chapter was originally published as Chapter 1 of "Workforce of One: Revolutionizing Talent Management Through Customization."
On November 17, 2004, as Teach for America's (TFA) national board meeting adjourned, Chief Operating Officer Jerry Hauser considered the opportunity before the organization. The board had just given the go ahead to move forward with development of a new strategic plan for 2005 through 2010. The aspirations were ambitious, and if they succeeded in reaching the goals set out in the plan, TFA would take its place among the country's most enduring institutions. Hauser knew that the key to converting a plan into success was ensuring that the organization had the right strategy and the capacity to execute effectively. As he looked toward the future, he reflected on the opportunities and challenges that TFA had faced in its first 15 years to identify lessons that might be useful for its next phase of growth.
In today's innovation-based economy, where organic growth and strategic renewal are the new business mantras, either companies learn to build a systematic capability for innovation or they risk becoming obsolete. This chapter profiles innovation leaders to help you begin thinking about boosting your company's innovation performance in a dramatic and enduring way.
Describes an "application software" company that has been through several evolutions--from consulting firm to applications service provider (ASP). The firm has received significant venture funding to pursue the ASP model but this has not worked, at least at the time the case ends. The company faces a choice: continuing with its current ASP business model, increasing its burn rate to convert to a licensed software model, or decreasing its burn rate to offer a more custom version of the ASP product.
A year after Rob Parson's manager decided to postpone Parson's promotion, Parson's new manager Gary Stuart faces the decision of promotion again. Stuart considers whether the efforts Parson had made were sufficient.
Formal flexible work arrangements have been an important step toward increasing work life balance. They provide options other than the traditional workplace expectation that employees will work continuously and full-time and do so consistently in the office. But by focusing on relatively short-term personal situations while ignoring longer-term career implications, FWAs mainly have served as way stations in career paths, sidelining-and even derailing-the careers of FWA program participants. This chapter looks at the reasons why FWAs are not the answer for retaining top performers and developing long-term relationships between employers and employees. This chapter is excerpted from "Mass Career Customization: Aligning the Workplace with Today's Nontraditional Workforce."
A year after Rob Parson's manager decided to postpone Parson's promotion, Parson's new manager Gary Stuart faces the decision of promotion again. Stuart considers whether the efforts Parson had made were sufficient. Teaching purpose: To explore managerial problems associated with performance appraisal and performance management.
Across industries, failure to find and follow the best logic and evidence leads to relying on conventional wisdom that is frequently incorrect or incomplete, and therefore, potentially hazardous to organizational health. This chapter introduces the ideas behind evidence-based management, and shows how managers and their companies can profit by turning this management technique into a way of thinking.
When the $19 billion merger of Silicon Valley legend Hewlett-Packard and Houston-based PC giant Compaq Computer Corp. legally closed on May 3, 2002, both companies had already devoted an immense amount of time preparing for the challenges that lay ahead. Chief among these challenges was avoiding the culture clashes that often accompany large mergers. This issue was particularly relevant given the very different cultures of HP and Compaq. This case provides an inside view of the integration planning process undertaken to create "The New HP," highlighting the work of the integration office, known as "the cleanroom," and the human resources team of HP vicepresident Jackie Kane. Also describes the dilemma facing one division manager, Rich Marcello, who struggled with the implications of a clean room decision.
Rob Parson was a star producer in Morgan Stanley's Capital Markets division. He had been recruited from a competitor the prior year and had generated substantial revenues since joining the firm. Unfortunately, Parson's reviews from the 360-degree performance evaluation process revealed that he was having difficulty adapting to the firm's culture. His manager, Paul Nasr, faces the difficult decision of whether to promote Parson to managing director. Nasr must also complete Parson's performance evaluation summary and conduct Parson's performance review.
The case series illustrates the role of performance measurement and analytics in translating TD-Canada Trust's service model of "comfortable banking" into operational terms. In 2000, in a banking market where consumers and regulators were typically hostile to mergers and acquisitions, Canada's fifth largest commercial bank Toronto-Dominion Bank (TD Bank) undertook a merger with a relatively small trust company, Canada Trust, which was known for exceptional customer service. To assuage the concerns of regulators, consumer groups, and newly acquired customers, TD Bank made several public pronouncements promising to maintain Canada Trust's high customer service standards and to deliver a "comfortable banking" experience. Chris Armstrong, executive vice president and chief marketing officer, was now faced with the task of defining the comfortable banking model and consistently delivering on these promises. Armstrong and his team undertake a systematic analysis of the drivers of customer satisfaction and branch network profitability and, based on the results, must decide how to change TD-Canada Trust's branch compensation and performance reporting systems to consistently, and profitably, deliver a "comfortable banking" experience.
A manufacturer and retailer of specialty doll products must decide which of two projects to fund. The decision requires the student to compute cash flows for the 2 projects, discount values to the present and compare and contrast different project performance measures.
International bestseller Profit from the Core was originally published in 2001 and helped many companies find their way back to profitable growth after the Internet bubble burst. Now, the fully updated edition points the way forward in today's economy with new examples and data that demonstrate how companies have met the challenges and opportunities of turbulent times by returning to their core businesses. Most companies demonstrating sustained profitable growth have very few, highly focused, core businesses. Conversely, diversification is often associated with lower average valuations than are typical of companies with focused cores. This chapter describes how to define and obtain the full potential from a core business. It outlines the key requirements for building a strong core as the foundation for growth strategy, provides tools for doing so, and points out the most common sources of failure in detailed case examples of companies including Dell, Starbucks, and Sony. This chapter was originally published as Chapter 2 of Profit from the Core (Updated Edition): A Return to Growth in Turbulent Times.
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