Case: Image is everything- Getty Images


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Case Application Name: Image Is Everything

Question no - 1

Being a web-based business, would principles of scientific management ever be useful to Getty Images? Explain. Would the quantitative approach be useful?

Question no - 2

Does Getty Images fit the description of a learning organization? Why or why not?

Question no- 3

What type of e-business would you call Getty images?

Question no- 4

What characteristics and management practices does this company exhibit that might be important for successful organizations in the twenty-first century?

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Case: Image is everything- Getty Images

  1. 1. Course Code: MGT- 1103Course Title: Principles of Management Assignment On Case Application Submitted to: Fariah Tasnim Lecturer Submitted By: Frenzy Group Department of Marketing Jagannath University
  2. 2. Group in Details Group Name: Frenzy Group Member in Details:Class Serial No. Class Name Roll No. 1. Fatema Tuj Johura 115401 2. Jarin Tasnim 115402 3. Md. Rejannobi 115403 5. Atikur Rahman Riad 115405 6. Shahriar Razin (Group Leader) 115406
  3. 3. Case Application Name: Image Is Everything
  4. 4. Some Getty Images Inc. Photo of Bangladesh…….
  5. 5. Case Summary:A photo can capture historical moments and provide visual links to thepast – to that brief moment in time when the photo was snapped. GettyImages, Inc. is a stock photo agency, based in Seattle, Washington, USA.It is a supplier of stock images for business and consumers with anarchive of 80 million still images and illustrations and more than 50,000hours of stock film footage. It targets three markets—creativeprofessionals (advertising and graphic design), the media (print andonline publishing), and corporate (in-house design, marketing andcommunication departments). It now conducts its business by internet.But there was a time it was not easy to get images like today. In the oldeconomy, it after took days, even weeks for customers to get a photo.They would have to look through pages and pages of expensivelyproduced color catalogues, trying to find that perfect image. But now it isa matter if a click. In 1993, Mark Getty and Chief Executive OfficerJonathan Klein co-founded Getty Investments LLC. Mark Getty is thecompanys chairman. By using internet, customer can easily get theperfect image they want. Getty Images is a blend of acquired businesses,most of which were competitors. It began with two acquisitions; London-based Tony Stone Images and Settle-based Photo Disc. As difficult andafter unpleasant as the merger between two companies was, eventuallycompany executives realized that they had the opportunity to createsomething new, unique and potentially valuable by combining the bothcompanies.Through extensive training, radical restructuring and investments intechnology, Getty Images is positioned as a leader and innovator in thevisual content market. In the conclusion, especially in a web-basebusiness, success today does not guarantee success tomorrow. For Markand other manager, yes, image is everything!
  6. 6. Question no - 1Being a web-based business, would principles of scientific managementever be useful to Getty Images? Explain. Would the quantitative approachbe useful?Answer:I think being a web-based business; the principle of scientificmanagement would be useful to Getty Images. Because internet basedbusiness has a big network or has a big market and to manage such a bigmarket principles of scientific management should be applied here.Because, in the scientific management, there will be an established planor we can say a science will be here to replace the old rule of thumbmethod. There will be scientifically selected and trained workers. And themanager should corporate the worker heartily so as to ensure that allwork is done in accordance with the principles of scientific management.There will be almost equal work and responsibilities between workersand managers. Then all tasks will be done successfully. So, I thinkprinciples of scientific management could be very useful to Getty Images.And quantitative approach can be a little helpful to Getty Images. But itcan support it or it could help it as such the way scientific managementprocess can because it is not more about the quantity; it is about thescience or technology to manage a web base business.So, according to my perception, as a web-based business, to run thebusiness successfully, principles of scientific management could be moreuseful than quantitative approach.
  7. 7. Question no - 2Does Getty Images fit the description of a learning organization? Why orwhy not?Answer:To fit Getty Images with the description of learning organization we haveto know about a learning organization. What is learning organization?Learning organization is an organization that has developed the capacityto continuously learn, adapt and change. By knowing about a learningorganization we can say that Getty Images is a learning organization.Because learning organization every people who worked in theorganization have to learn about the organization activities. In GettyImages every customer can learn about the organization throughaccessing its website by using a key word. In learning organizationeveryone in organization is responsible for innovation. In Getty Images allemployees are responsible for innovation an idea bank committee. In alearning organization, main fear is not learning or not adapting with theenvironment. In Getty Images main fear is not adapting with thecustomers demand. In learning organization if organization does notchange its activity they won’t be working for long. Thus if Getty imagesdon’t change or update its images regularly, they won’t enhance theircompany for long. That is why, Getty images fit with the description of alearning organization.
  8. 8. Question no- 3What type of e-business would you call Getty images?Answer:Before pointing what type of e-business Getty Images refers, we have toknow about the e-business and types of e-business. E-business is acomprehensive term describing the way an organization does its work byusing electronic linkages with its key constituencies in order to efficientlyand effectively achieve its goal. There are three categories of e-businessinvolvement. They are e-business enhanced organization; E-businessenables organization and total e-business organization.An e-business enhanced organization is a traditional organization thatsets up e-business capabilities, usually e-commerce while maintain itstraditional structure.An e-business enabled organization is a type of e-business that uses theinternet to perform its traditional business functions better but not to sellanything. In other word, the internet enables organizational members todo their work more efficiently and effectively.The last category of e-business involvement is total e-business. A total e-business organization is one whose entire work processes are structuredaround the internet.After learning that I think Getty images is a e-business enhancedorganization. Because, e-business enhanced organizations use theinternet to enhance their traditional ways if doing business. Getty Imagesalso use internet to collect images from professional photographers andsell them to the customers to enhance their business. By using internet
  9. 9. Getty Images transforming the old ways and in the process creating acompany poised to profit in an e-business world. Any customer canaccess Getty Images web site anytime, anywhere and download imagesfrom them. To download a final image customers have to enter a creditcard number. We can see that Getty images enhance its business bayusing internet so we can say it is an e-business enhanced organization.
  10. 10. Question no- 4What characteristics and management practices does this companyexhibit that might be important for successful organizations in thetwenty-first century?Answer:Getty Images is positioned as a leader and an innovative in the visualcontent market.  They followed some effective characteristics and management practices for being a successful organization. They give extensive training, reduce, radical, restricting and provide investment in technological side.  The customization option now accounts for over 40 percent of sales revenue. Then there’s the back room operation of Getty Images. Where two shifts of technicians digitally scan an average of 750 photos every 12 hours.  They made group and work to add value to the basic photos. For instance, they tag the photo with digital information that customer can use to control their computer settings to get more accurate color. That’s why Getty Images is now top class organization in the 21st century.
  11. 11. Reference  Management, 7th Edition – Stephen P. Robbins, Mary Coulter    The End