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Entrepreneur and Intrapreneur
An entrepreneur is someone who,
through his or her skills and passion,
creates a business an...
MEDIUM OF COMMUNICATION
Instant Messaging
Emails
Telephone
Video conferencing
Face to face
A Business Plan
The purpose of ...
Diversify: A business serves
multiple customer segments with different
needs and characteristics.
Multi-Sided Platform / M...
Revenue Streams: The way a
company makes income from each
customer segment. Several ways to
generate a revenue stream:
Ass...
to share their new discoveries. The
Diffusion of Innovation indicates that our
web marketing and advertising campaigns
sho...
c) Solely on the basis of the ratios calculated, state which company has the better
management team and explain your answe...
Describe and discuss the four stages in team development which where identified by
tuckman. How can awareness of these sta...
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Managment for engineers resumo

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Managment for engineers resumo

  1. 1. Entrepreneur and Intrapreneur An entrepreneur is someone who, through his or her skills and passion, creates a business and is willing to take full accountability for its success or failure. An intrapreneur, on the other hand, is someone who utilizes his or her skill, passion and innovation to manage or create something useful for someone else’s business. Marketing and Branding Marketing is the set of processes and tools promoting your business. This includes SEO, social media, PPC, local search, mobile and traditional promotional methods and tools. Branding, on the other hand, is the culture itself, the message that permeates and rules all the process of your business. Marketing mix The marketing mix helps you define the marketing elements for successfully positioning your market offer. One of the best known models is the 4Ps of Marketing, which helps you define your marketing options in terms of product, place, price and promotion. Use the model when you are planning a new venture, or evaluating an existing offer, to optimize the impact with your target market. Types of Learners  Visual learners – images, photos, graphics, charts, diagrams etc.  Auditory learners – powerful stories and words, analogies, metaphors etc.  Kinaesthetic learners – activities to keep them engaged, e.g. writing things down, asking them questions, demonstrations etc. Definition of a non-disclosure non-circumvention agreement Instrument used in early stages of a business transaction arranged by brokers (intermediaries). Its purpose is to ensure that (1) the intermediaries (who brought the buyer and seller together) are not by-passed and (2) the information disclosed during the negotiations is not revealed to any external or unauthorized party. Bases of Difference Entrepreneur Intrapreneur Dependency An entrepreneur is independent in his operations. But, an intrapreneur is dependent on the entrepreneur, i.e., the owner. Raising of Funds An entrepreneur himself raises funds required for the enterprise. Funds are not raised by the intrapreneur. Risk Entrepreneur bears the risk involved in the business. An intrapreneur does not fully bear the risk involved in the enterprise. Operation An entrepreneur operates from out- side. On the contrary, an intrapreneur operates from within the organisation itself.
  2. 2. MEDIUM OF COMMUNICATION Instant Messaging Emails Telephone Video conferencing Face to face A Business Plan The purpose of the business plan is to outline the strategy and actions required to get the business to where it wants to be Once written the plan is a benchmark for the performance of the business. Putting the plan in writing helps you focus and crystallize ideas, and identify priorities Sometimes the plan is aimed at people outside your business. For example when you are: ●Raising bank or equity finance. ●Disposing of a business. ●A rac ng new senior management. ●A rac ng business partners, such as distributors and agents. In this situation, the plan needs to ‘sell’ the business. The Business Model Canvas A single reference model based on the similarities of a wide range of business model conceptualizations. With his business model design template, an enterprise can easily describe their business model. Key Activities: The most important activities in executing a company's value proposition. Key Resources: The resources that are necessary to create value for the customer. They are considered an asset to a company, which are needed in order to sustain and support the business. These resources could be human, financial, physical and intellectual. Partner Network: In order to optimize operations and reduce risks of a business model, organization usually cultivate buyer-supplier relationships so they can focus on their core activity. Complementary business alliances also can be considered through joint ventures, strategic alliances between competitors or non-competitors. Value Propositions: The collection of products and services a business offers to meet the needs of its customers. According to Osterwalder, (2004), a company's value proposition is what distinguishes itself from its competitors. The value proposition provides value through various elements such as newness, performance, customization, "getting the job done", design, brand/status, price, cost reduction, risk reduction, accessibility, and convenience/usability. Customer Segments: To build an effective business model, a company must identify which customers it tries to serve. Various sets of customers can be segmented based on the different needs and attributes to ensure appropriate implementation of corporate strategy meets the characteristics of selected group of clients. The different types of customer segments include: Mass Market: There is no specific segmentation for a company that follows the Mass Market element as the organization displays a wide view of potential clients. e.g. Car Niche Market: Customer segmentation based on specialized needs and characteristics of its clients. e.g. Rolex Segmented: A company applies additional segmentation within existing customer segment. In the segmented situation, the business may further distinguish its clients based on gender, age, and/or income.
  3. 3. Diversify: A business serves multiple customer segments with different needs and characteristics. Multi-Sided Platform / Market: For a smooth day-to-day business operation, some companies will serve mutually dependent customer segment. A credit card company will provide services to credit card holders while simultaneously assisting merchants who accept those credit cards. Channels: A company can deliver its value proposition to its targeted customers through different channels. Effective channels will distribute a company’s value proposition in ways that are fast, efficient and cost effective. An organization can reach its clients either through its own channels (store front), partner channels (major distributors), or a combination of both. Customer Relationships: To ensure the survival and success of any businesses, companies must identify the type of relationship they want to create with their customer segments. Various forms of customer relationships include: Personal Assistance: Assistance in a form of employee-customer interaction. Such assistance is performed either during sales, after sales, and/or both. Dedicated Personal Assistance: The most intimate and hands on personal assistance where a sales representative is assigned to handle all the needs and questions of a special set of clients. Self Service: The type of relationship that translates from the indirect interaction between the company and the clients. Here, an organization provides the tools needed for the customers to serve themselves easily and effectively. Automated Services: A system similar to self-service but more personalized as it has the ability to identify individual customers and his/her preferences. An example of this would be Amazon.com making book suggestion based on the characteristics of the previous book purchased. Communities: Creating a community allows for a direct interaction among different clients and the company. The community platform produces a scenario where knowledge can be shared and problems are solved between different clients. Co-creation: A personal relationship is created through the customer’s direct input in the final outcome of the company’s products/services. Cost Structure: This describes the most important monetary consequences while operating under different business models. A company's DOC. Classes of Business Structures: Cost-Driven - This business model focuses on minimizing all costs and having no frills. e.g. SouthWest Value-Driven - Less concerned with cost, this business model focuses on creating value for their products and services. e.g. Louis Vuitton, Rolex Characteristics of Cost Structures: Fixed Costs - Costs are unchanged across different applications. e.g. salary, rent Variable Costs - These costs vary depending on the amount of production of goods or services. e.g. music festivals Economies of Scale - Costs go down as the amount of good are ordered or produced. Economies of Scope - Costs go down due to incorporating other businesses which have a direct relation to the original product.
  4. 4. Revenue Streams: The way a company makes income from each customer segment. Several ways to generate a revenue stream: Asset Sale - (the most common type) Selling ownership rights to a physical good. e.g. Wal-Mart Usage Fee - Money generated from the use of a particular service e.g. UPS Subscription Fees - Revenue generated by selling a continuous service. e.g. Netflix Lending/Leasing/Renting - Giving exclusive right to an asset for a particular period of time. e.g. Leasing a Car Licensing - Revenue generated from charging for the use of a protected intellectual property. Brokerage Fees - Revenue generated from an intermediate service between 2 parties. e.g. Broker selling a house for commission Advertising - Revenue generated from charging fees for product advertising How does the Diffusion Model Apply to Marketing? When we look at the five types of adopters as explained by the Diffusion of Innovation we can see what types of web marketing strategies are necessary to ensure success. When looking at it as a marketing model we can make the five adopters into five different classes of consumers. How they perceive a product will influence its popularity and how fast it will “diffuse” throughout the population. This can be a direct influence on the success or failure of a new product making it in the marketplace. The five classes of consumers are broken up like this: · Innovators make up about 2.5% of a population. They are the type of people who are running out to try a new product simply because it’s new. They are quick to embrace and create new ideas which force the rest of the population to look at the world in a different light. · Early Adopters are only about 13.5% of a population. This group is not as quick to generate a new idea but they are quick to embrace a product or idea that appears to be valuable to them. Once they feel like a product is useful they will do whatever it takes to obtain it. They are also very quick to offer referrals to others about the products that they like. · Early Majority consumers are approximately 34% of a population. This group is relatively slow to adopt new technologies, products or ideas. They are very practical and are not generally the ones who will try a product first, but may begin to pursue it once they know of others who have already tried it. · Late Majority is also about 34% of a population. This group of consumers is also very practical in how they approach new products or ideas. They are even less eager to adopt new ideas, technologies or products. They will rarely try anything new until it has been tried and tested by many others. · Laggards will make up the other 16% of a population. They are the absolute last to try a new product or service. They will finally begin to pursue a new product or ideas only after their “regular” options are no longer available. This offers us a sort of bell curve of consumers and how new products are likely to be adopted across a population. The further we go towards the right side of the curve the less likely the group of consumers are to try something new. However, to the left side, the early adopters are the most eager to try new products and ideas. Even though they only make up about 13.5% of a population, they are the most likely to be the force that begins to move a product through its life cycle in a community. They are also eager
  5. 5. to share their new discoveries. The Diffusion of Innovation indicates that our web marketing and advertising campaigns should be geared at this group when marketing new products or ideas. f) What is Intersubjectivity? Why is it important in communication? What steps can you take to address it? [3 marks] g) What is an elevator pitch? What are the key points it should include? Why is an elevator pitch useful? [3 marks] l) List and describe FOUR different methods of communication in use in large corporations today, highlighting the purpose/usefulness of each. n) The Myers Briggs personality test (also known as the Jung Typology Test) looks at four aspects of personality. Describe the four aspects, explaining the two extremes in each. a) If you are asked to participate in an interview on a radio chat- show in which a proposed engineering project will be discussed, and you have experience in similar projects in other countries, list FIVE things you would do to prepare in order to effectively communicate your message and briefly explain why each would be useful b) Grice proposed FOUR maxims. Explain clearly what they are for and how they could be useful for you. Name and explain TWO maxims. QUESTION 2 [15 marks] Answer all parts of this question. (a) What is Ratio Analysis and who might use it? [3 marks] (b) Using the information for Spring Fever Limited and Cool Winter Limited provided in Table 2 below, calculate the ratios listed in Table 1. [4 marks]
  6. 6. c) Solely on the basis of the ratios calculated, state which company has the better management team and explain your answer. [8 marks] Current Ratio Total Current Assets ÷ Total Current Liabilities Quick Ratio (Total Current Assets - Closing Stock) ÷ Total Current Liabilities Debt-Equity Ratio Long-term Debt ÷ Shareholders’ Equity Return on Assets Net Profit after tax ÷ Total Assets Gross Margin (Gross Profit ÷ Sales) x 100 Net Margin (Net Profit after tax ÷ Sales) x 100 Spring Fever Limited Cool Winter Limited € € Sales 908,000 780,000 Closing Stock 85,000 25,000 Gross Profit 340,000 425,000 Net Profit after tax 95,000 105,000 Current Assets 280,000 235,000 Liabilities falling due within one year 290,000 145,000 Liabilities falling due after one year 150,000 185,000 Total Assets 760,000 640,000 Shareholders’ Equity 320,000 310,000 QUESTION 3 [15 marks] "E-mail has just erupted like a weed, and instead of considering what to say when they write, people now just let thoughts drool out onto the screen. It has companies at their wits' end." (from What Corporate America Can't Build: A Sentence. New York Times, 7th December 2004) List and discuss the advantages and disadvantages of using email as a means of communication in a business environment. Question 4 [15 marks] You are one of a group of students setting up a company to supply personalised hoodies to student clubs and societies in College. You have been asked to produce a proposal for the branding and marketing to be adopted by the company. You think your ideas are excellent, but you have to persuade the other members of the group to think so too. Write a draft of this document – it should be between two and four hand-written pages in length. Question 5 Engineers work in teams on most engineering projects.
  7. 7. Describe and discuss the four stages in team development which where identified by tuckman. How can awareness of these stages assist in the development of a high- performing team? Question 7 – Question 4 2013 Quastion 8 – Question 3 2014

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